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Customs command generates $184m in two months

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Customs command generates $184m in two months

The Nigeria Customs Service, Lilypond Export Command, has said that 2,488 export containers with duty paid value of $184.8m, were handled by the command between April and June 2024.

The command also said that its payment into the Nigeria Export Supervision Scheme for the period under review stood at N1.2bn.

The Customs Area Comptroller in charge of the command, Mr Ajibola Odusanya, made this known in a statement issued on Sunday.

Odusanya said that NESS payments recorded a significant rise in 2024 when compared to N478.7m recorded within the same period of 2023.

According to him, in line with the fiscal policy directive of the Federal Government, N29.6m was generated as a surcharge on the export of previously imported goods and other machinery as approved by the Federal Ministry of Finance in 2024, while N535,000 was generated in 2023.

“As we all know, the year 2024 is facing numerous challenges, and Nigeria is not exempted. Important sectors of the economy were adversely affected due to the unstable exchange rate’s surge in trade activities, among others,” he said.

He said that the command exported diverse commodities, including agricultural produce, manufactured goods, and solid and extractive minerals, among others.

“A total of 2,488 20ft and 40ft export containers were stuffed with agricultural produce, generating earnings amounting to $184.4m. Notably, NESS received a payment of N914m underscoring the robust contribution of agricultural exports to the national economy,” Odunsanya said.

Odunsanya stated that with 267 containers dispatched, manufactured goods contributed significantly to export revenue, totaling $9.5m.

 “The export of solid and extractive minerals witnessed a notable upsurge, with 623 containers of both 20 and 40-foot dispatched, valued at $34m. The NESS payment of N232m highlights the growing potential of Nigeria’s mineral resources on the international stage,” he said.

The Lilypond customs boss reiterated that various goods such as plants and machinery, and personal effects were exported in 162 20ft and 40ft containers, contributing $5.5m to the export revenue.

 Odusanya added that a NESS payment of N24m was made, emphasising the diversified nature of Nigeria’s export portfolio.

 He commended the Comptroller-General of Customs, Adewale Adeniyi, and his management team for harmonising with the Nigerian Ports Authority and for collapsing all the export seats in Zone “A” to Lilypond Export Command.

Odusanya appreciated all the stakeholders and sister agencies for contributing to the increase in exports, adding that they remained committed to ensuring seamless trade facilitation.

Recalibrating the Nigerian economy

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Recalibrating the Nigerian economy

Some government policy announcements this past week indicate that Nigerian economic managers are rethinking the appropriateness of existing policy measures to move the economy in the desired direction for economic prosperity. The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, hinted at bringing down interest rates at the next Monetary Policy Committee meeting. It is not unlikely that the Bank has realised that higher interest rates imply a high cost of borrowing or high cost of production for industrialists, thus fuelling inflation. The nominal interest rates on lending are in the range of 25 to 30 per cent and the argument has been what kind of business that could generate over 20 to 30 per cent profit in a year! Thus, the high interest rate reduced credits to businesses and constrained the expansion of many enterprises and employment generation.

The decision of the Federal Government to join hands with the state governments in promoting agriculture, particularly food production is the right thing to do. Many of the state governments have no plan but to survive with federal allocations and palliative funds. Of course, the Federal Government too has no national economic plan but gets lots of suggestions from which to choose from national and international communities.

The backing or cooperation on agriculture from the Federal Government would assist many of the states to engage in meaningful production. What is important is that each state should specialise in the crops best suited to the land and weather. Fortunately, most food crops can be produced multiple times within a year. They used to call them annual crops, and research outputs from research institutes have shortened the planting to harvesting period for most crops.

Agricultural production in this state of the nation should be modernised and be focused on local consumption rather than the production for exports. Some states like Lagos and Rivers are more suited for processing farm outputs than the production of crops themselves and the Federal Government will also need to assist them. From the beginning, timelines and targets are set in the planning process.

The policy of improving the capital base of banks through bank consolidation processes is capable of promoting portfolio investments from local and international markets, apart from improving the ability of the banks to withstand internal and external shocks. Strengthening the activities in the capital market in this manner is capable of positive multiplier effects on economic development in the macroeconomy because of the medium to long-term funds the market generates. The bank consolidation exercise can make credits cheaper in the money market due to the amount of funds the banks will attract and the eventual credit creation activities by the banks.

Lastly, the government’s decision to release N1.2 trillion for items in the capital expenditure is capable of greater multiplier effects on economic growth than concentrating on recurrent expenditure. Realising that this is the second quarter, it is quite late in the day. However, if the decision is not continuous but a discrete implementation, it may not have the desired positive effects. By the way, which budget is the government implementing – 2023 or 2024?

Two major problems still exist: The issue of mounting debts and debt servicing, as well as the value of the exchange rate. A careful study of the book entitled, “Concession of an Economic Hit Man” by John Pekins (which can be downloaded from the net) explains how advanced economies, particularly the United States, use the Bretton Woods institutions to promote economic subjugation through debt manipulations. The World Bank or IMF would warn developing countries, on the one hand, about the precarious situation of their growing external debts, and on the other hand, offer the countries loans to tidy up their economies.

You cannot use loans to tidy up a debt-dependent economy. Once these countries get hooked, the institutions (World Bank and IMF) start introducing measures that could compound the problems. The debt-sustained economy will be told, for example, to scale down the huge employment in the public sector which results in the first level of unemployment and a fall in government revenue from personal income taxes.

The next is to ask the country to remove subsidies on consumption and production as these are not good for fiscal management. Finally, they raise issues of low revenue from taxes and ask the government to increase taxes on a number of consumer goods while liberalising trade by reducing or removing tariff on imported goods which are produced in the advanced economies. This policy is capable of withdrawing money from the economy such that money is unable to perform its primary function as a medium of exchange and dampen consumption. Secondly, it promotes production and employment in the countries that produce the imported goods, the advanced economies. Which of these policies have we not implemented or are we not implementing in recent times?

No developing country goes through these processes and repays the loans. It is a well-crafted cul de sac. The country going through these policies will be unable to increase domestic production to meet the demand for goods, resulting in inflation. Its foreign reserves will not grow because it will be using foreign receipts to pay and service debts, pay for imports, and support the international value of its domestic currency through interventions.

When Kemi Adeosun assumed office as the Minister of Finance, she opined that Nigeria would have to borrow its way out of poverty. We warmed against such a proposition but she pursued her dream and by the time she left, her successor, who happened to be her assistant or the Minister of State for Finance, Zainab Ahmed, had imbibed the policy, either for the personal gain that is attached to sourcing foreign loans or out of sheer incompetence. The Nigerian debts mounted to the point that no institution was ready to give us loans and the Muhammadu Buhari administration had to resort to direct borrowing from the CBN. What compounds our debt case is that the borrowed fund is often stolen and returned to the international market by the thieves. That is why research reports have, in recent times, shown that there is a negative relationship between debts and economic growth in Nigeria!

The World Bank and IMF had set a target of a debt-to-GDP ratio of 50 per cent and the Buhari government remained comfortable with their debt statistics since the borrowing was far from that ratio; albeit, it is not the GDP that pays debts but a country’s revenue. So, it is dubious to use the debt-to-GDP ratio rather than the revenue-to-GDP ratio. Whatever the case, the present government continued from where the Buhari government stopped and has now hit the debt-to-GDP ratio of 50 per cent and still counting. That is why the external reserves remain a weak instrument to support the exchange rate and the exchange rate has declined by almost 150 per cent since this government assumed leadership.

The country continues to go in circles of palliatives on borrowed funds. There is a revelation that one dead military chief had $92 billion in his foreign account in the United States. Is it still there or has it been transferred to another officer’s account? This government seems not to show interest even when it’s clear we need such money to shore up our reserves. Is someone waiting for the issue to cool off before acting for personal benefit?

Nigeria is an interesting place. An accountant-general stole about N109 billion and is still walking on the streets, collecting chieftaincy titles as he lives on in bliss. His successor, who was also accused of stealing billions of naira, is asking for time to settle part of the money, which means he has agreed to the fraud. Should they be walking on the streets as if the government and the people are fools?

The government needs to recalibrate the economy to achieve an increase in domestic output, generate employment, achieve low inflation, and improve the external value of the naira. Thus, in addition to the commendable policies highlighted above, the government must retrieve the $92 billion wherever it is and add it to our reserves. Of course, no country would want such a huge money withdrawn from its economy but if it is transferred into our reserves with the World Bank, it remains in America and useful to us. All verifiable stolen monies should be returned to the CBN vault for budget implementation and let us stop borrowing.

Court orders remand of three for alleged diesel theft

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Court orders remand of three for alleged diesel theft

The Chief Magistrate Court in Yaba, Lagos State has ordered the remand of Adeagbo Oluwagbeminiyi, Oluwagbenga Alex, and Obinna Igwe for allegedly stealing 5,000 litres of diesel worth N5,250,000.

They were arraigned on Friday by the Lagos State Police Command before Magistrate O.Y. Adefope on three counts of obtaining goods by false pretence, stealing, and fraudulently obtaining 5,000 litres of diesel.

The charges alleged that on April 24, 2024, at Surulere, Lagos State, the defendants pretended to need 5,000 litres of diesel and stole its worth of N5,250,000 from one Elegamhe Frank.

According Metro gathered that a report was made at the police station by Elegamhe on April 24, 2024, stating that he was defrauded by the defendants, who pretended that they needed 5,000 litres of diesel, and that after the sale, the money would be remitted to his account. However, he claimed that after the diesel was delivered, all efforts to reach them proved abortive.

After the report was made, the defendants were invited to the police station, questioned, and volunteered their statements, confirming that they bought the diesel but had yet to pay the complainant.

Prosecutor Haruna Magaji informed the court that the alleged offences were committed on April 24, 2024, at Surulere, Lagos State, and contravened Section 411, 314(i)(a)(2), and 287(d) of the Criminal Laws of Lagos State of Nigeria, 2015.

He also stated that the statements of the defendants and the complainant serve as evidence against the defendants.

The defendants pleaded not guilty to the charges against them.

Adefope ordered a bail bond of N300,000 to be paid and two sureties each to be provided.

She also stated that the defendants be remanded in police custody until they had perfected their bail conditions.

The case was adjourned until July 31, 2024, for further hearing.

According Metro reported in June that Jeremiah Sefan and Williams David were arraigned for allegedly stealing 400 litres of diesel worth N420,000 from an ice-making company where they worked as security guards and company drivers, respectively.

They were caught on a Closed Circuit Television footage which revealed that they committed the alleged crimes. They were subsequently arrested and charged in court.

Police hunt abductors of three in Anambra

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Police hunt abductors of three in Anambra

The Anambra State Police Command said it had begun a search for the kidnappers who abducted no fewer than three persons at different locations in the state and also to rescue the victims.

According Metro gathered that no fewer than three persons were feared kidnapped at different locations in the state on Saturday.

According to some videos circulating on social media, which our correspondent watched, one of the abductions occurred at the Ifite-Amansea-Awka Road in the Awka North LGA on Saturday afternoon while the other occurred along the Agulu-Oraukwu Road in the Anaocha LGA on Saturday evening.

In the video, two yet-to-be-identified occupants of a Sports Utility Vehicle were kidnapped by gunmen on Saturday afternoon at the Ifite-Amansea-Awka, close to the Nnamdi Azikiwe University’s second gate.

While one yet-to-be-identified person was taken away by another set of gunmen along the Agulu-Oraukwu Road.

The voices in the videos narrated that the assailants double-crossed the victims with their vehicle, dragged them out into their waiting vehicle and zoomed off while abandoning the victims’ vehicles.

The videos show masked gunmen ordering the victims out of their vehicles and into their waiting vehicles.

It was gathered from sources in the areas that the gunmen shot into the air as they made away with the victims, while one of them also took the victims’ car.

One of the sources and a resident living around the Ifite-Amansea-Awka Road where two victims were taken away said, “It was a scary scene to behold. The hooded gunmen double-crossed the occupants of an SUV vehicle, shot into the air and ordered them out and into their waiting vehicle, after which they immediately zoomed off. They left the SUV.

“Shortly after the incident, the assailants returned to the same area and abducted a man from his car, a Lexus 350 salon. The men picked their victim without a challenge and unlike the first incident where they shot in the air to instil fear among the people of the area, this time, they leisurely drove away after picking the victim.”

Our correspondent further gathered that at the Agulu-Oraukwu Road, two other incidents happened.

The source said, “In Oraukwu, the victim was trailed and abducted, and his Lexus 350 SUV abandoned on the road. The victim, a petrol station owner was driving home with one of his petrol attendants when they were accosted by gunmen.

“The petrol attendant, a young man was shot dead and his master, who is the owner of the petrol station, was abducted and taken to an unknown location.”

Reacting to the development after inquiries in a statement on Sunday, the Anambra State police spokesman, SP Tochukwu Ikenga, said after studying the videos, the police responding team recovered the victims’ vehicles and placed joint security measures/operational positioning to forestall such or related incident in the state.

Ikenga said manhunt and rescue operations were ongoing to rescue the victims and arrest the assailants as directed by the Commissioner of Police, Nnaghe Obono Itam.

He said, “Efforts are ongoing to arrest the assailants and rescue the victims of the abduction incidents on Saturday captured in a video along Ifite-Amansea Road, Awka.

“Meanwhile, the police responding team recovered the abandoned victim’s vehicle, and joint security measures/personnel positioning are already in place to forestall such and related incidents in the state.

“To this end, the CP charges the command’s tactical teams deployed to complement the joint security team to redouble their efforts to deprive the hoodlums of any space they desire to perpetrate their evil acts and vows that the police command shall leave no stone unturned in hunting down the assailants

“Further development on other locations shall be communicated, please.”

Police probe officer accused of raping Lagos teenager

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Police probe officer accused of raping Lagos teenager

The Lagos State Police Command said it had begun a full-scale investigation into the alleged rape accusation against one of its officers by a 17-year-old girl.

The command’s Public Relations Officer, Benjamin Hundeyin, in a statement on Sunday, also disclosed that the officer whose identity was yet to be disclosed had been taken into custody.

According City Round had reported on Saturday that the victim alleged that she was raped inside the Ogudu Police Station in the Ojota area of the state.

Our correspondent gathered that the officer had promised to help the teenager retrieve her phone, which had been taken by ‘one chance’ robbers on June 16 while she, her grandmother, and her siblings were returning from Ikeja.

The suspect reportedly overheard the teenager recounting her ordeal to her mother at her shop and offered to help track her missing phone and take her statement.

The victim also noted that she was invited into the suspect’s office in the guise of getting her phone but the suspect carried out the alleged act.

The mother of the victim, Aramide Olupona, had disclosed that her daughter began bleeding a day after the assault and was taken to the Mirabel Centre, adding that the incident was also reported to the authorities.

Olupona, however, accused the police of trying to bury the case, saying, “The suspect’s wife and the rest of his family have come to my shop to plead with me saying he would soon retire, but what about my daughter who was raped? Is it because I am a poor woman?”

Reacting, Hundeyin added that the alleged act contravened the code of conduct of the police and therefore assured the victim’s family and the general public that there was no attempt to cover up the incident.

He said, “The Lagos State Police Command has placed under arrest one of its personnel accused of defiling a 17-year-old girl. The Commissioner of Police, Lagos State Command, CP Adegoke Fayoade, has directed a full-scale and thorough investigation into the allegation.

“The command assures the public that there is no attempt at a cover-up as such hideous acts are at variance with the code of conduct and professional ethics of the Nigeria Police Force.

“To this end, CP Fayoade once again assures Nigerians that the officer will be dealt with under police regulations and the law if found culpable.”

Dangote lists refinery shares March, supplies petrol August

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Dangote lists refinery shares March, supplies petrol August

•Dangote eyes fertiliser supply to African countries in two weeks, plans 70% of group’s revenue in forex

The President and Chief Executive Officer of Dangote Industries Limited, Alhaji Aliko Dangote, has disclosed that the Dangote Petroleum Refinery will be listed on the Nigerian Exchange before the end of March, 2025.

This came as the refinery again delayed the date for the supply of Premium Motor Spirit, popularly known as petrol, till August, another shift from July.

Dangote disclosed that the refinery was set to roll out its petrol in August 2024, having resolved its crude oil supply issues through the help of the Nigerian National Petroleum Company Limited and the Federal Government.

He stated these when he took senior journalists on a tour of the refinery and Dangote Fertilizer plants in Ibeji-Lekki, Lagos on Sunday.

“We plan to list the refinery and petrochemical before the end of the first quarter of next year, ” he stated.

He noted that the issue the refinery was having with international oil companies regarding the supply of crude was resolved last week.

“The issue of crude has been settled last week. But we hope that the IOCs will respect it, ” he added.

Dangote also revealed that the Federal Government owned only a 7.2 per cent stake in the Dangote Refinery against the 20 per cent that was publicised.

“The Federal Government have only 7.2 per cent because it failed to pay for the balance for the 20 per cent stake

Recently, the Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, had last week accused international oil companies in the country of plotting to frustrate the survival of the new Dangote refinery.

Edwin said the IOCs were deliberately and willfully frustrating the refinery’s efforts to buy local crude by hiking the cost above the market price by $6, thereby forcing the refinery to import crude from countries as far as the US, with its attendant high costs.

Edwin stated, “The IOCs are deliberately and willfully frustrating our efforts to buy the local crude.

“It seems that the IOCs’ objective is to ensure that our petroleum refinery fails. It is either they are deliberately asking for a ridiculous and humongous premium or they simply state that crude is not available.

“At some point, we paid $6 over and above the market price. This has forced us to reduce our output as well as import crude from countries as far as the US, increasing our cost of production.

“It appears that the objective of the IOCs is to ensure that Nigeria remains a country, which exports crude oil and imports refined petroleum products. They are keen on exporting the raw materials to their home countries, creating employment and wealth for their countries, adding to their Gross Domestic Product (GDP), and dumping the expensive refined products into Nigeria, thus making us dependent on imported products.”

‘Crude crisis resolved’

However, Dangote’s confirmation of the resolution of the crude crisis might be a soothing balm to Nigerians who feared the lack of feedstock might jerk up the price of the refinery’s PMS.

Our correspondents report that this will be about the third time the refinery will postpone its PMS delivery date since it commenced the supply of diesel and aviation fuel into the Nigerian market.

According to Dangote, the refinery commenced full operations in 2024. starting with the refining of intermediate products such as polypropylene, naphtha, RCO, gasoline, diesel, and jet fuel.

He noted that the refinery steady state production phase commenced in March 2024 while also expecting the ramping up production to reach 500,000 barrels per day with 15 crude cargoes a month by next August, 550,000bpd by the end of the year, and 650,000bpd by the first quarter of 2025.

According to a presentation by Dangote during the tour, the refinery project is said to be fully online, with over $26bn being expected annually.

“Successful completion of trial run in January 2024. Refined and intermediate products include polypropylene, naphtha, RCO, gasoline, diesel, and jet fuel. Steady state production phase commenced in March 2024.

“Ramping up production to reach 500kbpd (15 crude cargoes a month) by next August, 550kbpd by the end of the year, and 650kbpd by the first quarter of 2025. Gasoline production is to commence in July with sales from August. Annual revenue is projected to exceed $26bn,” Dangote stated.

He added that the refinery had dedicated loading gantries with 86 loading bays; dedicated marine facilities for offtake of crude and loading of petroleum products; 900-kilo tonnes per annum polypropylene plant, 36ktpa sulphur, and 585ktpa carbon black production.

The total storage capacity of the refinery is put at 4.5 billion litres, which can cover 20 days of crude requirement product storage for 15 days of Nigeria’s petrol consumption.

He averred that the refinery would produce 53 million litres of petrol per day and 1.1 million tonnes per day.

“The Dangote Refinery can meet Nigeria’s requirements and have a surplus for exports,” he boasted.

On oil and gas, he added further, “We have built over 200km of gas pipelines in partnership with NGIC on a BOT basis. We also have other projects in the pipeline including a 3 billion cubic feet East-West Gas Gathering System offshore pipeline (design and engineering completed, awaiting commercial framework); 600 million standard cubic feet onshore gas pipeline(construction stage); and 300mscf gas processing facility (design stage).

These projects, he said, would help deliver gas for further investment and also help stabilise gas pressure in the Escravos–Lagos Pipeline System

The According recalls that during the Africa CEO Summit in Rwanda, Dangote promised that the refinery would put an end to the monthly importation of an average of 1 billion litres of premium motor spirit in Nigeria the moment the refinery started selling the product in June.

According to him, following the laid-down plans of the Dangote refinery, Nigeria will no longer need to import petrol starting in June.

Dangote also stated that his refinery can meet West Africa’s petrol and diesel needs, as well as the continent’s aviation fuel demand.

He said, “Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” he declared.

He added, “We have enough gasoline to give to at least the entire West Africa, diesel to give to West Africa and Central Africa. We have enough aviation fuel to give to the entire continent and also export some to Brazil and Mexico.

“We have started producing jet fuel, we are producing diesel, and by next month, we’ll be producing gasoline. What that will do is that, it will be able to take most African crudes.”

In June, Dangote informed Nigerians his plan to release premium motor spirit into the market in the sixth month of the year would no longer be possible, sparking reactions from Nigerians.

The President of Dangote Group, Aliko Dangote told newsmen during a tour of the facility with Governor Babajide Sanwo-olu of Lagos State and other dignitaries that the petrol from the 650,000 barrels capacity refinery would be out in July.

Dangote said this was due to some minor challenges, stating that the product would be out by July 10 to 15.

“We had a bit of delay, but PMS will start coming out by 10 to 15 of July. But then we want to keep it in the tank to make sure that it settles. So by the third week of July, we’ll be able to come out to take it into the market,” Dangote had said.

Contrary to popular belief, Dangote announced that the NNPC has a 7.2 per cent stake and not 20 per cent as being speculated.

He stated that while the NNPC had promised to provide the funds, it had been unable to meet its obligations, thus reducing its stake in the $19bn refinery to 7.2 per cent.

He said, “The NNPC no longer owns a 20 per cent stake in the Dangote refinery. They were meant to pay their balance in June but have yet to fulfil the obligations. Now, they only own a 7.2 per cent stake in the refinery.”

In a statement on Sunday, the NNPC confirmed that it decided not to add to its earlier investment in the refinery.

According to the NNPC Chief Corporate Communications Officer, Olufemi Soneye, the energy company had several months ago decided to cap its investment at the amount already paid. Soneye hinted that the decision not to invest any further in the Dangote refinery did not impact NNPC’s business.

“Several months ago, we made a commercial decision to cap our investment at the amount already paid. This decision was taken by NNPC Ltd and has no impact on our business,” he said tersely.

Listing in Q1

Dangote announced plans to list his refinery and fertilizer plants on the Nigerian Exchange Group by the first quarter of 2025.

The decision to list the two subsidiaries comes as the group seeks to expand its investor base and unlock further value for shareholders.

Dangote disclosed that the company’s construction of rice mills with a 1-million-tonne capacity is ongoing, saying the Jigawa plant is expected to be commissioned in a few months.

Dangote disclosed that the delay in securing a site for the Dangote Petrochemical Facility in Ogun State resulted in a $500m loss.

He attributed the financial setback to the protracted process of acquiring land at the Olokola Free Trade Zone refinery cost him $500m on the $2.5bn initial drawdown on bank loans.

He expressed displeasure over the bureaucratic hurdles encountered, which he said negatively impacted the project timeline and overall costs.

“The three years and eight months delay by Ogun State govt over Olokola land for petrochemicals facility cost us $500m,” Dangote said.

Fertiliser production resumes

It was gathered that the company’s fertiliser plant would resume production in two weeks to give farmers a more productive harvest.

He said there was a massive request for Dangote fertiliser from Nigerians and the rest of Africa.

He noted that the fertiliser plant has 3Mta of granulated urea (2 lines of 1.5Mta each), saying it was largely export-driven business with 12 per cent sold domestically and 88 per cent exported to Sub-Saharan Africa, South America, the United States and Europe.

He revealed that the production of fertiliser has increased by 48 per cent to 1.2 million tonnes in 2023, creating 1,500 direct jobs and about 5,000 indirect jobs.

The richest man in Africa has projected that the company’s revenue would grow to about $30bn in the next few years, increasing six times.

It was mentioned that 75 per cent of the group’s revenue currently comes from the cement business; 80 per cent of of Earnings Before Interest, Taxes, Depreciation and Amortization comes from Nigeria, with 90 per cent of revenue in various local currencies.

In future, the Dangote Group projected that 15 per cent of revenue would come from the cement business; 50 per cent of EBITDA from outside Nigeria (including exports) and 70 per cent of revenue in hard currency.

During the presentation, Dangote noted that the company’s cement is the leading cement player in Africa with a total capacity of 52 million tonnes per annum across 10 countries. He said, “Plans are underway to add a total of 9m tons of capacity in Nigeria and Cote d’Ivoire”.

The According reported recently that the Federal Government and crude oil producers in Nigeria have committed to working towards a sustainable supply of crude oil to Dangote and other local refineries under a market-determined pricing system.

Both parties said the aim of the commitment was to ensure that while the operators (crude oil producers) do business optimally, the refineries are not starved of feedstock.

Accordingly, the industry regulator, the Nigeria Upstream Petroleum Regulatory Commission has directed oil refiners in the country to provide monthly price quotes on crude supply.

This came as the $20bn Dangote Petroleum Refinery is reportedly ramping up the importation of crude from the United States, Bloomberg reported on Thursday.

Oil producers

In a statement issued in Abuja on Thursday, the NUPRC stated that oil producers under the umbrella of the Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry, at a meeting called by NUPRC, agreed to concede to a framework that would be mutually beneficial with the aim of ensuring that local refineries are not strangulated due to off-the-curve prices.

“The focus of the meeting held at the instance of the Commission Chief Executive, Gbenga Komolafe, was on the status review of the Framework for Seamless Operationalisation of Domestic Crude Oil Supply Obligation Template.

“It was part of efforts to effectively implement key sections of the Petroleum Industry Act (PIA) 2021, especially the issue of pricing and crude supply to the domestic refineries,” the commission stated.

According to Komolafe, President Bola Tinubu is fully committed to providing a level playing ground for producers and refiners to do business in the industry.

He said there is a need to have a rule of engagement “to ensure that the pricing model from the oil producers is not seen to be strangulating the domestic refineries”.

He directed producers and refiners to henceforth provide the regulator with cargo price quotes on crude supply and delivery to monitor and regulate transactions among parties effectively.

“We need to have the price quotes on a monthly basis,” he directed.

Komolafe emphasised that the Domestic Crude Oil Supply Obligation has a convergence with the nation’s energy security.

The NURPC boss said his administration is re-engineering its regulatory processes.

“We allow all our processes to be transparent. While the Federal Government targets implementation of the regulation, all parties must concede to the rules of engagement as a guide for operation,” he said.

The regulator said it is committed to driving the issue of willing buyer/willing seller.

“We need to discuss pricing especially as parties have committed to respecting their domestic crude oil obligation. For us as the regulator, we don’t want the upstream sector to be operated sub-optimally through cost under-recovery. So, the regulator is very alive to that. In crude pricing, we will never allow price strangulation to disincentivise our domestic refining capacity optimisation.

“The regulator does not support cost under-recovery in the upstream sector, and we will continue to work to ensure that crude supply profiteering as a negative factor that can strangulate our domestic refining capacity optimisation is disallowed,” he stressed.

The CCE further stated that the NUPRC is truly committed to the attraction of needed investments to boost upstream development and optimisation of our hydrocarbon resources just as we want sustainability of domestic energy supply in the midstream and downstream sector.”

Rope skipping GWR holders seek N20m for London event

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Rope skipping GWR holders seek N20m for London event

The Nigeria Rope Skipping Federation says they need the sum of N20m to sponsor their three Guinness World Record holders Gbenga Ezekiel (18), Dusin Dubem (17) and Philip Solomon (17) as well as their technical director Chibuisi Ukandu to London in September to attempt more records during the launch of the 2025 GWR book, According Sports Extra reports.

The three boys who are based in Akure, Ondo State, have six records between them and are going to be featured in the 2025 book which will be launched during the event at the Guinness World Record headquarters in London on September 12.

Solomon has the most records among the boys with the most skips on one leg in 30 seconds (153), the most crisscross skips on one leg in 30 seconds while being blindfolded (62) and the most crisscross skips on one leg in 30 seconds (69).

Ezekiel was the first to attempt a GWR in 2020 among the boys and he currently has two titles; the most skips on one leg in one minute (278) and the most double-under skips on one leg in one minute (144).

Dubem also recorded the most double-under crossover skips in 30 seconds (78).

“When officials of the GWR visited Akure in June to record the boys, they were indeed impressed by how the boys had made something out of nothing. They were expecting to see some gigantic facilities and all of that,” Ukandu, who doubles as the boys’ coach, told According Sports Extra.

“So, they want the children to be in London and possibly break new records.

“We have been trying to source funds believing that we will get government support as well, seeing that they are making the state and the country proud.”

NRSF president, Dayo Oyewo also noted that the body is unable to seek funds from the Ministry of Sports Development because they haven’t been granted full status by the ministry.

“At the federal level, we are incapacitated because the federation has not been granted full status. We don’t have any financial involvement with the Federal Ministry of Sports Development yet,” Oyewo said.

“However, we are making efforts on our own and we are hoping that the government and other private individuals will come to our aid with the amount we need for flight and accommodation for the three boys and one official.”

Dele-Bashiru bags brace, assist in 23-0 pre-season win

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Dele-Bashiru bags brace, assist in 23-0 pre-season win

New Lazio signing Fisayo Dele-Bashiru got his first taste of action for the club on Sunday, scoring a brace as well as an assist during their 23-0 crushing of ninth-tier side CS Auronzo in a pre-season friendly.

Dele-Bashiru as well as other new signings came on during the second half of the game and impressed in 45 minutes.

He played in an advanced midfield role behind striker Tijjani Noslin with Loum Tchaouna and Sana Fernandes on his sides in a 4-2-3-1 formation.

Lazio tested out the set up with Noslin and Tchaouna scoring a hat-trick each.

The Aquile are working in their traditional Auronzo di Cadore training camp in the mountains to get away from the stifling heat of the Italian summer.

It’s the second time Lazio will beat the ninth-tier side in the space of five days. The first one ended in a 21-0 defeat four days ago but the Nigerian didn’t feature.

The Super Eagles midfielder joined Lazio from Hatayspor on a season-long loan, with an obligation to buy if he impresses.

The 23-year-old shone in the Turkish Super Lig last season, scoring nine goals and providing six assists.

He recently made his debut for the Super Eagles, scoring against South Africa in a World Cup qualifier, further enhancing his reputation.

Reports suggest that Lazio secured the talented midfielder for an initial loan fee of around €2m, with a further €4m to be paid to make the deal permanent if certain conditions are met.

The total deal, including potential add-ons, could rise to €7m, showcasing Lazio’s commitment to integrating young talent into their squad.

Dele-Bashiru joins a notable list of Nigerian players who have donned the Lazio jersey. Ogenyi Onazi, Stephen Makinwa, Seyi Adeleke, and Daniel Ola have all had spells with the Italian club, with Onazi being the most prominent, making 110 appearances and scoring seven goals between 2012 and 2016.

Man arrested for luring minor with N2,000 before defilement

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Man arrested for luring minor with N2,000 before defilement

A man whose identity is yet to be ascertained has been taken into custody by police operatives for allegedly luring a 10-year-old girl with N2,000 and defiling her in the Opako area of Adigbe, Abeokuta, Ogun State capital.

According Metro gathered from a source who pleaded anonymity on Sunday that the incident happened on Saturday when the suspect allegedly booked a room in the hotel and informed the receptionist he was expecting his child.

The receptionist however became suspicious after discovering a used condom in the hotel room after the suspect and the victim had left the hotel prompting the receptionist to raise the alarm about the incident.

The source said, “Just this evening, a man came to one hotel at Adigbe, Abeokuta, booked a short-term room, and pretended he’d be expecting a child soon. Long story short, he had sex with a 10-year-old girl and gave her N2,000.

“Some residents claimed he’d been doing similar things in the past. Those within the compound of the hotel didn’t even hear noise, but the hotel receptionist raised the alarm after she saw a used condom in the toilet.

“There are reports that he had been doing it with the girl before now. Information has it that the man had been picked up by the police and the young girl has narrated what happened.”

The source added further that police officers, on Sunday, locked the hotel.

Confirming the incident, a senior police officer in the area noted that when the officer from the division closest to the hotel visited the scene, they gathered that the suspect had been taken into custody by some officers whom the mother of the victim had reported to.

The officer added that the division had commenced an investigation on the matter.

“We have visited the scene and we gathered that it happened. The mother of the victim was said to have reported to some security operatives who were the ones that arrested the suspect,” the senior officer said.

Meanwhile, when our correspondent contacted the command’s Public Relations Officer, Omolola Odutola, on Sunday, she said she had yet to be informed of the matter.

“I have not heard it. I am not aware,” she said in a terse message.

According Metro reported on March 21 that a Lagos State High Court sitting in Ikeja convicted and sentenced a man, Dennis Okubiat, to 20 years imprisonment for raping a 12-year-old girl for three months, which caused urinary incontinence.

Justice Ismail Ijelu held that the victim had testified that she went for evangelism and, in the process, went to check on the convict, who had not been coming to church after the pastor of her church said they should visit members who had not been seen in church for some time.

Nigerians draw up new expectation lists as S’Court breaks govs’ stranglehold

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Nigerians draw up new expectation lists as S’Court breaks govs’ stranglehold

In this report, ADELANI ADEPEGBA highlights the Supreme Court’s attempts to bridge the gap between the theory and practice of Nigeria’s federalism amid the clamour for the restructuring of the country

For years, local governments in Nigeria have struggled under the heavy hand of state governors, who, wielding significant control over local councils, have often undermined their autonomy. This control manifested in various ways, including the dissolution of elected councils, the appointment of caretaker committees, and the manipulation of local government funds through the State Joint Local Government Account.

These practices have stifled local governance, inhibited development, and disenfranchised citizens at the grassroots level. The over-centralisation of power perpetuated inefficiencies and corruption.

In a decisive move, the Supreme Court last Thursday set the councils free from the yokes of the governors, granting them financial autonomy. The court declared the governors’ retention of local government funds as a violation of the 1999 constitution. The ruling upholds the constitutional guarantee of a system of local government by democratically elected councils, as enshrined in section 7 of the 1999 Constitution.

The judgment mandates that local governments should receive their funds directly from the Federation Account, bypassing state governments.

Justice Emmanuel Agim, who read the lead judgment, declared, “I hold that the state’s retention of the local government funds is unconstitutional.

“Demands of justice require a progressive interpretation of the law. It is the position of this court that the federation can pay LGA allocations to the LGAs directly or pay them through the states.

 “In this case, since paying them through states has not worked, justice of this case demands that LGA allocations from the federation account should henceforth be paid directly to the LGAs.”

This decision curtails the financial stranglehold that state governments have exercised and aims to prevent the mismanagement and diversion of funds meant for local development.

The direct allocation of funds to local governments marks a significant shift towards financial independence. With control over their finances, local councils can better plan and execute development projects, ensuring that resources are utilized effectively for the benefit of their communities. This financial autonomy is expected to reduce bureaucratic delays and enhance service delivery.

The court reinforced that elected local government councils cannot be dissolved arbitrarily by state governors. This protection ensures that local councils remain accountable to their electorates and operate independently of state political manipulations.

By safeguarding the tenure of elected local councils, the Supreme Court’s ruling strengthens democratic governance at the grassroots level. Local governments are now expected to function with greater independence, free from the constant threat of dissolution and interference. This autonomy is crucial for fostering a more accountable and responsive local administration.

Freed from the constraints of state control, the councils are better positioned to address the specific needs and priorities of their communities. This localized approach to governance is likely to result in more targeted and efficient development initiatives, improving the overall quality of life for residents.

The Supreme Court’s ruling reinforces the principles of federalism by ensuring a more equitable distribution of power among the different tiers of government. This balance is essential for maintaining the integrity of Nigeria’s federal structure and promoting national unity.

President Bola Tinubu welcomed the verdict, saying, “It affirmed the spirit, intent, and purpose of (Nigeria’s) Constitution on the statutory rights of local governments.”

 According to him, a fundamental challenge to the nation’s advancement over the years has been ineffective local government administration, as governance at the critical cellular level of socio-political configuration is nearly absent.

 In a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, the President emphasised that the onus is now on local council leaders to ensure that the broad spectrum of Nigerians living at that level are satisfied that they are benefitting from people-oriented service delivery.

 He said, “The Renewed Hope Agenda is about the people of this country, at all levels, irrespective of faith, tribe, gender, political affiliation, or any other artificial line they say exists between us. This country belongs to all of us.

 “By virtue of this judgment, our people – especially the poor – will be able to hold their local leaders to account for their actions and inactions. What is sent to local government accounts will be known, and services must now be provided without excuses.”

Predictably, the development has attracted reactions across the political divide. Former Vice President Atiku Abubakar described the ruling as “A win for the people of Nigeria” and a step in the right direction.

In a statement released on Thursday via X, Atiku criticised the earlier arrangement, stating that it was borne out of “Politics of hasty compromise.”

The Labour Party in a statement by its Secretary, Obiorah Ifoh, said, “We, at the Labour Party welcomed the Supreme Court decision granting financial autonomy to local government councils in the 36 States of the federation including the Federal Capital Territory. This decision was long in coming but as the saying goes, it is better late than never.’’

The Nigeria Labour Congress and the National Union of Local Government Employees also lauded the judgment.

However, the advocates of restructuring are not satisfied with the apex court ruling which they argued was an erosion of true federalism. For them, it is restructuring or nothing and no token attempts at a political shift would satisfy them.

The pan-Yoruba socio-political association, Afenifere, which has been advocating a total overhaul of the nation’s political and administrative structure dismissed the apex court verdict. In a statement on Saturday, its leader and the National Public Secretary, Chief Ayo Adebanjo, and Prince Justice Faloye, described the apex court judgement as a mere judicial conspiracy.

According to the group, the judgment was against the principle of true federalism. It added that the Supreme Court played to the gallery in delivering such a judgment. It maintained that the only way forward for the country was to practice true federalism.

“Afenifere insists that the way forward for Nigeria is not the confusing rudderless tinkering but a holistic restructuring of the polity to re-enact the fundamental principles of true federalism as agreed by the founding fathers.

‘’This includes the fact that the local government system is an exclusive preserve of the states, either by direct constitutional provisions or residual powers in a federation,” the group noted.

While the Supreme Court’s decision is a significant victory for local government autonomy, several challenges remain. Ensuring the effective implementation of this ruling will require vigilance and commitment from all stakeholders.

Beyond the judicial victory, local governments must enhance their administrative and financial management capacities to effectively utilise their newfound autonomy. Training and capacity-building initiatives would be crucial in this regard.  Mechanisms should therefore be established to monitor the use of funds and ensure transparency and accountability at the local level.

Experts said the National Assembly and State Houses of Assembly should enact supportive legislation to further entrench local government autonomy and prevent any future attempts to undermine it.

In this regard, the Nigeria Union of Local Government Employees and the Association of Local Governments of Nigeria have urged the Nigerian Financial Intelligence Unit to track council funds and prevent their diversion to state governors by council chairmen.

The President of NULGE, Akeem Ambali, who cautioned against disobedience of the judgment, called for strict adherence to NFIU guidelines, adding that it would help prevent the diversion of funds.

Ambali noted that only those who had misappropriated council funds and those opposed to democratic principles would be dissatisfied with the verdict, stating that Nigerians are happy with the landmark judgment of the Supreme Court.

He said, “The whole country is happy with the judgment of the Supreme Court. It is only looters of local government funds and unpatriotic people that will not be happy.

“What we have seen is constitutional democracy at play. Funds were appropriated and allocated to local governments. Why must it be hijacked along the line? That is why we have a high rate of poverty, frustration, insecurity, and joblessness across the country.

“We (NULGE) believe that once local government is free, council chairmen will be able to touch the lives of average workers and the masses and change things for good. That’s our impression about it.”

He observed that the verdict would help transform governance at the grassroots.

‘’Ordinarily, the allocation for local governments has been cornered, diverted, and misapplied over time. What I believe is that once they have access to the allocation, they will be able to provide the infrastructure for the people. They will be able to provide responsive governance to their communities and pay the minimum wage conveniently.

“We are aware that since the removal of fuel subsidy, local government allocation has been increased by over 100 per cent by the state and federal governments. So, there is no fear about that,” the NULGE president further noted.

ALGON vowed to use the opportunity of its financial autonomy to address insecurity and lack of good roads at the grassroots, while also ensuring people in rural areas enjoy more dividends of democracy.

The National President of ALGON, Aminu Muazu-Maifata, said the association appreciates the verdict of the Supreme Court.

He said, “’ALGON will meet next week to deliberate on the positive development, assuring that the council chairmen would utilise the landmark verdict of the Supreme Court to transform governance at the grassroots.

He said, “I assure Nigerians that we won’t disappoint them. We will meet their expectations. By next week, we will call a NEC meeting, which will be held between the 18th and 19th of this month. All the 36 state ALGON chairmen and the FCT chairman will be at the meeting.

‘’We will state our positions and expectations on this verdict. Before then, we might have gotten the full details of the judgment. That will give us a good opportunity to explain the verdict and come out with good positions.

“We know the mood of the masses and that of the majority of Nigerians on this issue. We will know how to persuade our principals about it. We are not going to face any challenge from the governors because of the way we are going to approach the whole issue and the way we are going to relate with them.”

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