NEWS
Port Harcourt Refinery Operations ‘A Mere Show,’ Says Stakeholder
Timothy Mgbere, Secretary of the Alessa Community Stakeholders, has criticized the Nigerian National Petroleum Company Limited’s (NNPCL) claims of operational success at the Port Harcourt Refinery, describing them as “a mere show.”
Speaking on Arise TV on Wednesday, Mgbere described the refinery’s purported operational revival as “a mere show,” accusing NNPCL of misleading Nigerians about the facility’s actual performance.
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He said, “The Port Harcourt refinery, and by extension, the depot, has been the mainstay of the Alesa economy. The economic activities from this depot mean a lot to us as a community. But what we see in the media is far from the reality on the ground.”
He revealed that while some units of the old refinery, known as “Area 5,” have been reactivated, the operations remain partial and slow.
“It is not true that the refinery is producing 1.4 million barrels per day as claimed. That is a very big lie,” Mgbere said. “They have started something, and I give them credit for that, but it’s misleading to suggest the facility is fully operational.”
Mgbere alleged that the event held at the Port Harcourt depot on Tuesday, which was broadcast nationwide, was staged to give a false impression of significant progress.
He explained,“The party they had on Tuesday was held at the new loading gantry connected to the new refinery, not the old one. The old refinery’s tank farm contains stock that has been there for over three years. They released this old stock, loaded six trucks, and presented it as current production. That is not true.”
The community leader further claimed that NNPCL officials, including the Group Managing Director and other top executives, worked tirelessly in the days leading up to the event to create a positive public image.
“The GMD, the MD of the Port Harcourt Refinery, and other key figures were in Port Harcourt from Monday. They didn’t sleep Monday night, all to make sure this event appeared successful,” Mgbere said.
He also emphasized the disconnect between the facilities of the old and new refineries. “The old refinery has its own utilities, separate from the new refinery. The event was staged at the new gantry, which doesn’t service the old refinery. This raises questions about the validity of the production claims,” he added.
A sophisticated cyberattack has resulted in the theft of 62 billion Ugandan shillings (about $16.8 million) from the Bank of Uganda, according to a report by the state-owned New Vision newspaper.
The cyberattack, which occurred earlier this month, was carried out by a hacking group identifying themselves as “Waste,” reportedly from Southeast Asia.
The hackers managed to infiltrate the bank’s IT systems and illicitly transfer a significant sum, part of which was traced to Japan, according to sources within the bank cited by New Vision.
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Despite the magnitude of the breach, the central bank has successfully recovered more than half of the stolen funds.
The Bank of Uganda and the Ugandan police have yet to provide official comments on the incident.
However, President Yoweri Museveni has ordered a thorough investigation into the matter, as revealed by New Vision.
In a separate report, Uganda’s largest independent newspaper, Daily Monitor, suggested that the theft might have involved collusion by insiders, raising further concerns about the bank’s internal security protocols.
Cyberattacks on financial institutions in Uganda are not uncommon, with previous incidents targeting banks and telecom firms.
However, many financial institutions are reluctant to publicly disclose such breaches, fearing potential damage to their reputations and loss of customer trust.
Vice President Kashim Shettima has returned to Nigeria after attending the inaugural International Exhibition of Extractive and Energy Resources (SIREXE Expo) in Abidjan, Côte d’Ivoire.
While no official statement was released regarding his return, sources confirm that Shettima arrived in Abuja on Wednesday night via the Nnamdi Azikiwe International Airport.
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During the event, which gathered leaders and industry experts from across Africa, Shettima emphasized the need for stronger governance and enhanced transparency in the extractive and energy sectors.
He also called for increased collaboration among leaders and industry players to better harness Africa’s resource wealth for sustainable development.
“The Nigerian government is committed to building an inclusive extractive industry anchored on the principles of transparency, regional partnerships, and local capacity development,” Shettima said during his address.
The summit, themed “Policies and Strategies for the Sustainable Development of the Extractive and Energy Industries,” served as a platform for discussions on innovative solutions for energy security and resource management across the continent.
The House of Representatives is currently holding a closed-door session to discuss the Tax Reform Bills submitted by President Bola Tinubu.
On September 3, 2024, the President forwarded four tax reform bills to the National Assembly, based on recommendations from the Taiwo Oyedele-led Tax Reforms Committee.
The proposed bills include the Nigeria Tax Bill 2024, aimed at providing a comprehensive fiscal framework for taxation, and the Tax Administration Bill, designed to establish a clear legal framework for all taxes and minimize disputes.
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Additionally, the Nigeria Revenue Service Establishment Bill seeks to replace the Federal Inland Revenue Service Act by establishing the Nigeria Revenue Service, while the Joint Revenue Board Establishment Bill proposes the creation of a tax tribunal and a tax ombudsman.
A lawmaker of the All Progressives Congress told our correspondent on condition of anonymity that the meeting is expected to douse tension ahead of the debate.
“Not everyone is convinced yet about the bills but there is a feeling that the intent of the Federal Government is the well-being of the economy. This meeting is to drum support for the bills,” he stated.
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