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NNPC Ltd Clarifies Role In Petroleum Pricing Amid MURIC’s Allegations

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The Nigerian National Petroleum Company Limited (NNPC Ltd) has addressed claims made by the Muslim Rights Concern (MURIC) that it was undermining Dangote Refinery Limited (DRL) by being the sole offtaker of all products from the refinery.

Olufemi Soneye, Chief Corporate Communications Officer of the NNPC Ltd offered  the clarification in a statement on Saturday.

The MURIC had alleged that recent changes to the pump price of Premium Motor Spirit (PMS) would prevent DRL from offering lower prices.

Read Also: Pump Price Needs Market Adjustment, NNPCL Official Declares Amid Fuel Hike

NNPC Ltd categorically denies these claims, stating that the pricing of petroleum products from any refinery, including DRL, is dictated by global market forces.

It stated that the recent adjustments in PMS prices do not restrict DRL or any other domestic refinery from accessing the Nigerian market. Instead, they provide an opportunity for DRL to sell its products at lower prices if current prices are considered high.

The company further emphasized that there is no inherent guarantee of lower prices from domestic refining compared to global pricing frameworks, as confirmed by DRL.

The statement reads, “The attention of the NNPC Ltd has been drawn to a press release by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the Nigerian National Petroleum Company Limited (NNPC Ltd).

“Specifically, MURIC asserts that recent changes to the pump price of Premium Motor Spirit (PMS) will prevent the Dangote Refinery from offering lower prices and that NNPC Ltd. has become the sole offtaker of all products from the refinery.

“To set the records straight, NNPC Ltd. wishes to further state that the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces.

“The recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market. In fact, if current prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market.

“Furthermore, we emphasize that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the DRL. The NNPC Ltd. will only fully offtake PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria.

“The DRL and any other domestic refinery are free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products. NNPC Ltd. has no desire or intention to become the distributor for any entity in a free market environment, and therefore, the notion of becoming a sole offtaker does not arise.

“The NNPC Ltd. cannot undermine a business in which it holds a billion-dollar stake. As an advocacy group for fair and just treatment, MURIC should have verified the facts before making statements that are entirely flawed and has the potential to incite ordinary Nigerians against the NNPC Ltd.” It added

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#EndBadGovernance Protests: Tinubu Orders Release Of Detained Minors

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In a decisive move, President Bola Tinubu has ordered the immediate release of all minors detained by police during the recent #EndBadGovernance protests.

The directive, announced by Minister of Information and National Orientation, Mohammed Idris on Monday, underscores the government’s commitment to protecting children’s rights and ensuring justice.

Related News: EndBadGovernance Protests: Court Sets N10m Bail Each For 67 Minors

Idris confirmed that President Tinubu’s directive prioritizes the welfare of detained minors, instructing the Ministry of Humanitarian Affairs to facilitate their safe reunification with their families.

A committee led by the Ministry of Humanitarian Affairs will be established to oversee the welfare of the released minors and ensure compliance with the president’s orders.

Additionally, President Tinubu has directed a formal investigation into the actions of law enforcement agencies involved in the arrests.

The president emphasized that any misconduct uncovered during the investigation will result in disciplinary action, affirming his administration’s dedication to accountability within law enforcement.

 

 

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Ibadan Man On Why He Used 76 Women For Ritual, Ate Others

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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.

ALSO READ: Edo Deputy Gov, Omobayo Ordered To Court Over Refusal To Vacate Office

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.

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JUST IN: Angry Nigerians Storm NNPC HQ, Demand Mele Kyari’s Resignation

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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.

READ MORE: Music Icon Quincy Jones Passes Away At 91

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………. 

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