NEWS
How IOCs Connive Against Dangote Refinery, Nigeria’s Economy
The reluctance of International Oil Companies (IOCs) operating in Nigeria to shift from exporting Nigeria’s crude to supplying the newly inaugurated 650,000-barrel-capacity Dangote Refinery has been identified as capable of major economic impact.
The connivance of the IOCs came to the fore when the President of the Dangote Group, Alh Alike Dangote spoke to the CNN recently.
In the interview, Alh Dangote pointed out that the IOCs in Nigeria were demonstrating reluctance to sell crude oil to the Dangote Refinery.
He observed that IOCs might have become accustomed to exporting crude for foreign exchange, an operational standard they were reluctant to tamper with.
Alh Dangote pointed out that the new refinery had been dependent on the Nigerian National Petroleum Company Limited (NNPC Ltd) for it supply of crude, since the IOCs prefer to be exporting.
He said, “The NNPC is doing its best, but some of the IOCs, they are struggling to give us crude, everybody is used to exporting and nobody wants to stop exporting.”
The industrialist decried that Africa was not witnessing the desired economic growth because of exportation of raw materials and importation of the same as finished goods.
“Africa is not going the way it should because we export raw materials and import finished goods. It doesn’t matter what it is, even if it is gold or whatever, raw material is always priced at a ridiculous amount compared to finished goods,” Dangote pointed out.
In his opinion, those benefitting from importation of refined products would not want the refinery to succeed.
Drawing attention to the capacity of the Dangote Refinery, he disclosed that it would take about 21 million barrels of crude oil from Nigeria every month. He explained with Dangote Refinery operating at full capacity, that 21 ships of crude would no longer import or export oil into Africa.
He clarified that, “Almost 21 ships will no longer leave the African continent, either from Nigeria or Angola, we will be able to take those crudes and be able to refine and distribute the product. I feel very proud as an African that we have been able to demonstrate that it can be done, and we’ve done it.
“If we take all the crudes from Nigeria, it means we will take 21 million barrels per month and that will also help in terms of reducing the C02 emissions.
“Rather than ships coming from Europe to bring in products, or the ships going out of Nigeria, 21 ships going out of Nigeria every month, and then you have the product coming into Nigeria. In totality, when you calculate, you are talking about 480 ships of 1 million barrels.”
Recall that in April, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), issued a new policy requiring oil producers to priotitise sale of crude to domestic refineries before attending to foreign demands.
However, The PUNCH reports that “It appears the IOCs are not obeying this directive.”
In what appears to be a confirmation that the IOCs are actually conniving against the Dangote Refinery, the spokesperson for the NUPRC, Olaide Shonola, said the commission was intervening to ensure the local sale of crude to Dangote and other refineries in the country.
According to Shonola “We’ve been intervening and intervening. I am sure you’re aware of a recent meeting that was held with them on domestic crude oil supply. We will keep engaging them, NUPRC has been doing that.
“I can’t say we will force them, but as the regulator, we can mandate. And that’s what we are doing, giving clear directives that this must be done. We will just keep on engaging and you will agree with me that most of these things have to be planned. We will keep on engaging. We will do our regulatory function in that area.”
It is not clear if the regulatory authorities are contemplating sanctions against the erring IOCs.
An ear-tingling tale has emerged from the Oyo State capital, Ibadan, where a yet-to-be-identified male confessed on radio that he sacrificed almost 80 women to his idol over a seven-year period.
He made the confession in Ibadan, while appearing at a Fresh FM radio programme, titled, ‘Opeyemi’ on Saturday.
Famous in the locality, Foko area of Ibadan, where he was born, by his alias, ‘Mistina Orobo’, the now self-acclaimed pastor asserted that the almost 80 women were not part of those he was hired to kill and had eaten.
He was driven to sacrifice the women in the quest to renew his mystical power. He would then indulge in cannibalism after he had taken their blood for sacrifice to his idol.
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In his words, “My idol takes about 73 to 76 women for over seven years. These women are always gotten from the club or other popular places. When I eat people, it is purposely to renew the voodoo in my body. Sometimes, when I’m shot, it won’t penetrate, even when I’m hacked, the machete breaks. The sweetest human parts are tongue, palm, and foot.”
The cannibal then used the mystical powers for nefarious activities including supporting others, including politicians, business people, and high flying career people, like bank managers, in the quest to accomplish ulterior motives.
“I also work for bank managers, politicians, and some other rich men. I’m very popular among them. When I first worked with a bank manager, it was one wealthy man that we killed and the info was supplied in the bank.
“The only person who was left to sign refused to sign, we visited him, made him sign, and killed him aftermath. I charge up to N50 to N80 million to get people killed and we always work as a team. I taught some people to work, some as highway or armed robbers and I usually get my fair share,” he added.
He formally sought anonymity until the right time, and gave graphic details of what he and his boys did to influence outcome of elections in Oyo State.
On his early days, the mysterious man confessed that he has been eating sacrifices since the age of nine as the son of an herbalist, from which he added hired assassin and highway robbery to his trade.
“As a child of an herbalist, I always eat sacrifices in seven different junctions, this was what fortified me before I grew up to become a dreaded hired assassin and sometimes, highway robber,” he confessed.
On how he turned a new leaf, the man said he met Jesus in his dream after he attempted to avenge people who earlier fought with him.
According to him, “I had been killed before but I woke up because of the idol I had at home. The day I went to retaliate those people who fought and killed me. When we got to the first person, I had a change of mind. When we got to the house of the other one, he was drunk, and my boy was about to unleash on him when I begged that he should be spared, since then, I have been sympathetic and have left the wayward life. Now, God has taken over my life.
“I am now in a seminary. I spent four years learning to be a prophet. I am not ready to establish a church. I just want people to know my terrible story. I had sold all three houses and cars I bought while engaging in these acts. I met Jesus in my dream.”
He also stressed that a former lawmaker in the House of Representatives, Temitope Olatoye (a.k.a. Sugar) died because he was in Ghana at that time if not it would have been averted, adding that he had always informed Sugar of the dangers looming.
Recall that Sugar died on March 9, 2019, in the Intensive Care Unit of the University College Hospital, after suffering bullet wounds in the head from shots of suspected political thugs in the Lalupon area of Ibadan.
The public is still wondering at the speed with which the news of his attack spread, the tales in the locality being that Sugar died on the spot.
Tensions flared outside the Nigerian National Petroleum Corporation (NNPC) headquarters in Abuja on Monday as a large group of Nigerians gathered to demand the resignation of NNPC Group Managing Director Mele Kyari.
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The protesters, driven by frustration over reported mismanagement and high spending, specifically pointed to $4 billion spent on the refurbishment of the Port Harcourt, Warri, and Kaduna refineries—projects that many feel have yielded little return.
More to follow……….
President Bola Ahmed Tinubu has officially sworn in seven newly-appointed ministers at the Council Chambers of the Presidential Villa in Abuja.
The ceremony, held on Monday, brought together the ministers-designate, their families, and dignitaries, marking a significant step in the ongoing reshaping of Tinubu’s cabinet.
This swearing-in follows a week of important political activity, including the Senate’s screening of the nominees, which occurred shortly after President Tinubu announced their appointments.
Presidential spokesman Bayo Onanuga had confirmed that the new ministers would be screened on Monday, setting the stage for today’s event.
To accommodate the swearing-in ceremony, the Federal Executive Council (FEC) meeting, typically scheduled for Mondays, has been rescheduled to Wednesday.
This cabinet reshuffle reflects President Tinubu’s response to increasing public demands for change amid Nigeria’s ongoing economic challenges.
In a bid to enhance governmental effectiveness, Tinubu dismissed five ministers and reassigned ten others, aiming to tackle pressing national issues more effectively.
The seven ministers include:
Dr. Nentawe Yilwatda: Minister of Humanitarian Affairs and Poverty Reduction
Muhammadu Maigari Dingyadi: Minister of Labour and Employment
Bianca Odinaka Odumegwu-Ojukwu: Minister of State for Foreign Affairs
Dr. Jumoke Oduwole: Minister of Industry, Trade and Investment
Idi Mukhtar Maiha: Minister of Livestock Development
Yusuf Abdullahi Ata: Minister of State for Housing and Urban Development
Dr. Suwaiba Said Ahmad: Minister of State for Education
As they assume their roles, attention will be on how these ministers navigate the complexities of Nigeria’s economic landscape and work towards policies that improve the lives of citizens.
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