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Obasanjo Sounds Alarm Over Massive Crude Oil Theft In Nigeria

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Former President Olusegun Obasanjo sounded the alarm on Nigeria’s economic challenges, fingering widespread oil theft as a major contributor.

Obasanjo highlighted that over 80 percent of Nigeria’s crude oil was being stolen, exceeding the allocated quota and severely impacting the nation’s financial stability.

This is as Prof. Ango Abdullahi, former Chairman of the Northern Elders Forum, delivered a scathing critique of Nigeria’s leadership, declaring it a failure and emphasizing the urgent need for intervention to address the leadership deficit.

This was disclosed during a gathering in Abuja, coinciding with the launch of ‘Court and Politics,’ a book by Dr. Umar Ardo, a former associate of ex-Vice President Atiku Abubakar.

Obasanjo, represented by ex-governor Babangida Aliyu, expressed concern about Nigeria’s economy, questioning how it could thrive when over 80 percent of its crude oil was stolen.

The former president highlighted that despite the crude oil quota standing at approximately two million barrels per day, a staggering over 1.7 million barrels were being stolen.

Despite advocating for the presidential system, Obasanjo noted that adherence to rules is lacking among Nigerians.

Abdullahi, presiding over the occasion, called for a collective acknowledgment of failures and a return to the drawing board to tackle the country’s myriad challenges.

He said, “Enough of our failures. Something else must give way to our failures. We have failed this country. This must stop. Time has come for us to go back to the drawing boards to rescue this country.”

He drew attention to Nigeria’s struggle to generate a mere 4,000 megawatts of power for a population exceeding 200 million, stressing the need for urgent, comprehensive solutions.

Sharing an encounter with elder statesman Aminu Dantata, Abdullahi revealed Dantata’s frustration with northerners, blaming them for the failures in the North.

Abdullahi emphasized a collective acknowledgment of these failures, stating, “Enough is enough; we must agree that we failed enough.

“I visited Dantata and he was very angry with me, saying the people of the North have failed the North and Nigeria. Until the North accepts that they have failed the North and sit together to discuss the way forward, there won’t be progress.

“We gathered in 1978 when we wanted to return to civilian rule. We were to discuss why the system of 1961 failed but we were shocked when they said the parliamentary system of government was not going to be discussed and that we should go for the federal system of government.

“And they gave us two options: that of the French and America. And now we have practised the presidential system for 24 years and it has failed and I will score it F9.

“Time has come for us to go back to the drawing board so that we can save this country.”

Former PDP National Chairman Prince Secondus advocated for judicial reforms, aiming to ensure that elections are decided by the people rather than being subjected to judicial interventions.

However, former Attorney General Kanu Agabi defended the judiciary, emphasizing its crucial role in preventing the disintegration of Nigeria.

Further contributing to the discussion, former PDP National Chairman Dr. Okwesilieze Nwodo claimed he was ousted from office for championing internal democracy within the party.

He argued that promoting internal democracy would reduce the courts’ involvement in political party affairs.

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Fuel Pricing: PETROAN Accuses Dangote Refinery Of Monopoly

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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over alleged monopolistic practices by Dangote Refinery, following a public dispute about fuel pricing in the downstream petroleum sector.

Recall that the refinery, Africa’s largest, recently disclosed its petrol pricing at N990 per litre in trucks and N960 per litre into ships, a move it justifies as being in line with international rates.

READ MORE: Nigeria’s Debt Service Ratio Falls To 65% As Tinubu Tackles Economic Woes

PETROAN, however, sees this as an attempt to suppress competitors and dominate the Nigerian market.

The rift began when Dangote Refinery claimed that complaints from marketers regarding its pricing were fueled by intentions to import cheaper, potentially substandard products.

In response, PETROAN strongly rejected these allegations, suggesting that Dangote’s claims are tactics designed to maintain a monopoly in the sector.

Joseph Obele, PETROAN’s spokesperson, stated that the association remains committed to importing high-quality products at more competitive rates to ensure affordability for Nigerian consumers.

According to PETROAN, competition in the market is essential for achieving fair pricing, and any attempt to stifle it would be detrimental to consumers.

They argue that Dangote Refinery’s pricing should reflect production costs and fair margins rather than international benchmarks, especially given concessions granted by the government for the refinery’s establishment.

PETROAN also announced its plans to partner with foreign refineries and financial backers to import premium-quality petroleum products at prices below current rates.

The association aims to enter the market by December 2024, pending necessary regulatory approvals.

“The allegations that PETROAN will import substandard products are unfounded and aimed at creating an unfair playing field,” the statement read.

PETROAN warned that similar claims in the past had led to significant price hikes when competitors were pushed out, emphasizing that the entry of new players into the market would lead to more competitive pricing and ultimately benefit Nigerian consumers.

PETROAN expressed appreciation for President Bola Tinubu’s commitment to revitalizing Nigeria’s state-owned refineries and urged the government to consider privatizing the Port Harcourt and Warri refineries once rehabilitation is complete.

The association believes a transparent privatization process will help strengthen Nigeria’s downstream sector and counter monopolistic tendencies.

To address the ongoing pricing challenges in the sector, PETROAN called on the government to convene a comprehensive meeting of industry stakeholders, including major associations like IPMAN, DAPPMAN, MEMAN, NUPENG, and PENGASSAN.

PETROAN believes that collaboration among these groups will be instrumental in establishing a sustainable and competitive pricing framework for petroleum products in Nigeria.

 

 

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Hardship: Let Us Intensify Prayers For Our Leaders – Sultan Of Sokoto Tells Nigerians

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Sultan of Sokoto, Sa’ad Mohammad Abubakar II, has called on Nigerians to avoid publicly criticizing their leaders, instead urging citizens to place their trust in God to address leadership concerns as He deems fit.

Speaking at the Regional Conference on Climate Change-Induced Conflicts in Northern Nigeria, organized by the Kaduna State Bureau of Interfaith in collaboration with International Alert, the Sultan emphasized faith and patience in navigating the country’s challenges.

READ ALSO: Gunmen Attack Police Facility In Owerrinta, Female Detainee Killed

Acknowledging Nigeria’s current economic and social hardships, the Sultan encouraged continuous prayer, not only for the nation but for its leaders as well.

“Even though many feel times are particularly hard, we believe relief will come. Let’s increase our prayers for our leaders, trusting God to address them in His way,” he said, expressing hope that divine intervention could bring stability and prosperity.

The Sultan reminded political leaders of their ultimate accountability to God, cautioning that they will stand alone on the Day of Resurrection, with only their deeds to support them.

“On that day, every leader will stand alone. Governors, advisers—none will have support except their own deeds. Let us act with a deep sense of responsibility and fear of God,” he stated.

Addressing religious leaders, he warned against misleading their followers for personal gain, underscoring the trust many place in their religious guidance.

“Only God can save any human being,” he said, encouraging Nigerians to remain faithful and discerning in their spiritual beliefs. “Focus on worshiping Allah and leave the rest to Him. Don’t follow those who might lead you astray.”

With leaders from various religious communities, including the President of the Christian Association of Nigeria (CAN), in attendance, the Sultan called for unity, resilience, and communal effort to tackle pressing issues such as climate change, poverty, and insecurity in the northern region.

He praised the North’s history of unity and resilience, warning against divisive narratives that threaten communal harmony. “When we are united, we can face any challenge and build a prosperous community,” he asserted.

The Sultan’s remarks come amid ongoing social and environmental issues in the region, including a recent surge in climate-related challenges that have exacerbated poverty and security threats.

In light of these issues, he called on both Muslims and Christians to intensify their prayers, saying, “Our country faces many challenges, and we must turn to God in prayer. Let us intensify prayers in our mosques and churches.”

 

 

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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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