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Inspector sentenced to death for killing phone dealer

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The Delta State High Court sitting at Asaba on Tuesday sentenced Inspector Ubi Ebri of the Nigeria Police Force to death on a murder charge.

The court presided over by Justice C. D. Diai convicted and sentenced the Inspector to death for killing a phone dealer, Mr Onyeka Ibeh, in Asaba.

Ibeh, a popular phone dealer in Asaba, along with his wife was driving from Ugbolu to Asaba on April 5, 2023, when they were flagged down by the police team for a search.

The deceased was said to have stopped but after waiting for a while to be searched, and they were not being attended to, decided to move away

Infuriated by the action of the deceased, the police inspector immediately opened fire into the vehicle and the bullet hit the late Ibeh on the head and he died on the spot.

The wife of the deceased who sat in the front seat was unhurt.

The killing of the phone dealer led to protests by youths along the streets of Asaba and to police headquarters to demand justice.

However, the prosecution, led by a director in the Ministry of Justice, Mr E.H. Edema, accused the policeman of killing Ibeh.

Edema alleged that the defendant was part of a police patrol team that mounted a stop and search exercise on April 5, 2023, along the Ugbolu Asaba Road in the state capital.

Edema who told Journalists after the judgement said, “Today’s judgement is a landmark judgement because justice has been served in this case to the deceased and society at large.”

Also, the elder brother of the deceased, Mr Ifeanyi Ibeh, who witnessed the judgement, also commended the court for delivering justice to his family.

Govs urge continued participation in electoral process

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As Nigeria marked Democracy Day on Wednesday, the Speaker, House of Representatives, Hon Tajudeen Abbas; governors and civil social organisations have called on Nigerians to continue to participate in the electoral process to deepen democracy in the country.

Nigeria marks Democracy Day on June 12, to mark the 1993 presidential election acclaimed to have been won by Chief MKO Abiola. The election was described as a watershed in the history of the country.

From 1999 until 2018, Nigeria was marking Democracy Day on May 29, but ex-President Muhammadu Buhari, in 2018, officially changed Democracy Day to June 12.

The change was made to recognise the sacrifices of those who fought for democracy, including Abiola, and to commemorate the struggle against military rule that ultimately led to Nigeria’s current democratic governance.

This year, Nigeria is celebrating 25 uninterrupted years of democracy, in a democratic dispensation that started in 1999.

Abbas, in a congratulatory message to Nigerians on the occasion of the 25th anniversary of unbroken democratic governance, assured that more dividends of democracy would come their way soon.

In a statement issued and signed by his Special Adviser, Media and Publicity, Musa Krishi, Abbas noted that Nigeria evolved in the past 25 years, adding that, “The dividends of democracy are bound to reach more Nigerians.”

The statement read in part, “Democracy has come to stay in Nigeria. The country has been navigating through the learning curves successfully; though it is not yet Uhuru, the country has continued to grow in democratic experience and practice.”

The Speaker, who represents Zaria Federal Constituency of Kaduna State, enjoined Nigerians, across tribes and religions, genders, and age groups, to continue to contribute their quota to the growth and development of the country, as he assured that Nigeria would morph into a nation that its citizens would be proud of.

The Plateau State Governor, Caleb Mutfwang, in a statement in Jos to mark Democracy Day, signed by his Director of Press and Public Affairs, Gyang Bere, called for the sustainability of democracy for the development and progress of the country

The governor said democracy remained the best form of governance where the people had the power to decide who governed them, adding, “In that regard, political stakeholders must uphold fairness, equity, justice, and the rule of law in our electoral process.”

Governor Peter Mbah of Enugu State congratulated the people of the state and Nigerians in a message made available to journalists in Enugu, on Wednesday.

He said despite the teething challenges, democracy remained the best form of government.

Describing June 12 as a watershed in the nation’s democratic struggles, Mbah paid tributes to notable Nigerians, including Abiola and President Bola Tinubu, for their contributions to the enthronement of the current democratic dispensation.

He enjoined Nigerians to let their commitment to upholding the democratic culture be renewed by the memory of the price paid for democracy.

Governor Lucky Aiyedatiwa of Ondo State, at a Democracy Day celebration held at the International Centre For Culture and Events, Akure, said, “No doubt, with the level of our political development in the last 25 years of stable democracy in this Fourth Republic, we can conveniently state that, the sacrifices of the patriotic heroes and unyielding martyrs of the June 12 struggles who challenged the criminal injustice, defied the tyranny and brutality of power by the then military dictatorship in defence of the invaluable ideals of democracy, have not been in vain, as democracy has become the defining essence of our political engagements and culture.”

The governor also expressed the commitment of his administration to delivering dividends of democracy to the people of the state.

The Edo State Governor, Godwin Obaseki, commended Nigerians for upholding the core tenets of democracy for over 25 years, noting that efforts at democratic consolidation would engender sustainable development in the country.

In a statement, the governor also charged voters in the state to come out en masse to participate in the September 21 governorship election and vote wisely, to sustain the developmental trajectory in the state.

“We have come a long way in this journey. Though we might not be where we wish to be as of today, we are better off as a nation. Democracy remains the most desirable form of government because of its core principles of free will, free enterprise, civil liberties, fairness and justice.

“We have grown as a democratic nation over the years and all credit for the progress we have made goes to Nigerians who continue to respect the tenets of democracy as the best choice to attain sustainable development,” he said.

The Kogi State Governor, Usman Ododo, in his Democracy Day message signed by his Special Adviser on Media, Ismaila Isah, called on Nigerians to remain resolute and steadfast in the collective journey to sustain democratic governance.

The governor noted that the commemoration of Democracy Day must go beyond a day in the calendar but an auspicious opportunity for all Nigerians to reflect on the resilience, strength, and unwavering spirit of heroes who had made sacrifices to establish and sustain democracy in the country.

“As we celebrate Democracy Day and 25 years of uninterrupted civil rule in Nigeria, we salute the courage and determination of those who paved the way for the democratic governance we experience today. We must continue to honour their memory and pledge to uphold the principles for which they stood by ensuring that citizens continue to enjoy the freedom of choices and access to justice and the rule of law as enshrined in democratic principles.

“But beyond that, our people must be empowered to have decent lives by making our resources work in their interest and giving them opportunities to participate in economic activities at all levels,” Ododo said.

The Osun State Governor, Ademola Adeleke, said democratic governance would continue to thrive in the state, with the concern the appointed and elected public officeholders had been showing for the welfare of the masses.

Speaking in Ikirun, at the empowerment programme sponsored by the member representing Ifelodun/Boripe/Odo Otin Federal Constituency in the House Representatives, Mr Olusoji Adetunji, on Wednesday, the governor said with the right people in positions of authority, democracy would continue to thrive.

Adeleke, represented by the Commissioner for Cooperatives and Empowerment, Mr Bayo Ogungbangbe, said, “I have instructed all elected and appointed public officers in the state to return to their various local governments and constituencies and take care of the needs of their people.”

The lawmaker representing Delta Central Senatorial District in the National Assembly, Senator Ede Dafinone, called on Nigerians to embrace unity, love and respect for one another and to deepen their engagement in participatory democracy.

He also urged the citizens to guard against antidemocratic tendencies and ensure that democratic values and culture were firmly entrenched at all levels of society.

In a signed statement made available to journalists in Warri, Delta State, by Dafinone on Wednesday, the lawmaker said, “Nigeria’s 25 years of unbroken democratic rule is a testament to the resilience, dedication and unwavering commitment of the Nigerian people to the principles of democracy and freedom.

“Furthermore, I call on all citizens to deepen their engagement in participatory democracy. It is our collective responsibility to guard against antidemocratic tendencies and ensure that our democratic values and culture are firmly entrenched at all levels of society. Let us hold our leaders accountable, participate actively in the democratic process, and foster an environment where every Nigerian feels valued and heard.”

Also, the National Assembly caucus of Benue State and the Federal Appointees Forum, on Wednesday, described Tinubu as one of the country’s living heroes of democracy, and an exemplary leader committed to the peace and progress of Nigeria.

The caucus also commended the Secretary to the Government of the Federation, Senator George Akume, for his part in championing good governance across all tiers of government.

In a statement issued to mark Democracy Day, the spokesman of the group, Mr Philip Agbese, lauded Tinubu’s efforts in promoting economic growth, good governance, and social justice.

The group pledged readiness to continue to support and collaborate with the Federal Government to ensure the realisation of the shared vision for a prosperous and united Nigeria.

Lagos bizman loses N21m valuables to robbers

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A businessman, Mohammed Abdullahi, has accused policemen of the Zone 2 Command and Lagos State Police Command of mishandling a case of robbery that made him lose his car, money and valuables worth N21m when armed criminals robbed him and his neighbours at their residence in the Awoyaya community, in the Ibeju Lekki area of the state.

According Metro gathered that Abdullahi, a realtor, in several posts on X.com sometime in May and June 2024, lamented over the loss of his valuables and how the police did nothing meaningful to track down the suspects behind the robbery despite providing overwhelming evidence to them.

In one of the posts, Abdullahi said, “Please Nigerians, help me share this video. these are the guys that robbed me and the police are not ready to do anything about my case.”

Our correspondent, during a recent conversation with the realtor, gathered that he was at home with his friend, Juliet, when three of the five robbers who invaded their building broke down the door of his flat, gained entry into his parlour and room and robbed him and his guest of their valuables at gunpoint.

During the operation around 1 am, the businessman said the armed robbers used a gun to strike his head, adding that after robbing him and other neighbours in the building housing 20 units of flats, the robbers, whose faces were said to be visible during the robbery, locked them up in the toilets and fled.

Abdullahi said, “They were five in number but only three entered my apartment while the remaining were outside monitoring. They were armed with guns and knives. While in my flat, one of them cocked the gun and demanded my car key, which I gave him.

“They also searched my house and saw a bag containing my passport with a valid visa, driving licence, and dollars that I wanted to use to purchase goods for my real estate business as I was to travel to Turkey in January 2023.

“They also stole my clothes, shoes, laptop, token, ATM card, gold, phone and some other documents for my business. They broke the door of my flat and gained entry, proceeded to my room and knocked down the door. The building is a combination of 20-unit flats and the armed robbers robbed nine residents, including me, on that day.”

During the operation, Abdullahi said one of his neighbours informed the landlady, who notified the police in Area J Command, adding that despite their intervention, no meaningful progress had been made to track down the suspects.

He said, “The armed robbers operated from 1 am to 3 am, locked all of us who were robbed inside the toilet or kitchen and left. It was after they left that the police came and opened the toilet and kitchen doors to set us free. We were later invited to the police station where we wrote statements.

“When we got home, we realised that some of the suspects were using some of the stolen phones to access the UBER app on one of the phones to book a ride and snap pictures using the Snapchat handle of one of my neighbours. They had access to the phone because when they stole it, they collected the password to unlock it and we monitored the social media handle using another phone.

“The suspects even wore one of my neighbour’s stolen wristwatches and snapped pictures with it. We recognised them because when they robbed us, they did not wear any masks. We took all that evidence to the policemen at Area J and we also paid N90,000 to track the location of the stolen phones.”

According to Abdullahi, they did the tracking and showed us some locations but we didn’t get anything concrete. One of the policemen even demanded N30,000 from me to give someone at Alausa to help me flag my car and didn’t do anything despite paying him.

He added that he was the one who later went to flag the car and to date, he still receives alerts whenever his vehicle was charged for a traffic offence, among others.

Abdullahi said, “I later visited the command headquarters in Ikeja to lodge another complaint and spoke with one CSP Abdulfatai, gave him all the evidence and pictures of the suspects and he promised to arrest them. He called one of his team leaders, Seun, and told me to meet him to write statements.

“Seun demanded N50,000 for the case and I gave him. A month after paying him, I called Seun and he said there was an election and he wouldn’t be able to do anything. After the election, I called CSP Abdulfatai, he said he had retired.

“I called Seun but got nothing meaningful from him. I demanded my money and he returned it. I later went to the Zone 2 Command, met the AIG, wrote a petition and he assigned my case to a team leader. The team leader, after assessing my case, said they didn’t have the server to track the suspects.”

Abdullahi said the team lead introduced him to someone who demanded N500,000 to handle the case, adding that he paid the person N150,000 but he later returned N70,000, showed him some paperwork and said he couldn’t continue the job.

“It weakened me; despite all the evidence submitted, the police kept demanding money without doing any solid investigation. Last month, I still even received an autoreg and traffic offence alert for my stolen vehicle because I had flagged it.

“The police frustrated the case. They didn’t do anything to track down the suspects; they just kept collecting money and only showed paperwork and nothing more. The police treated me badly.

“The valuables I lost during the robbery were worth around N21m. The incident happened on December 25, 2022, and I still have the pictures of some of the suspects. I have made several reports at the police stations and nothing was done,” he added.

The state Police Public Relations Officer, Benjamin Hundeyin, when contacted, said he would get back to our correspondent but had yet to do so as of the time this report was filed.

Corporal dismissed for misusing firearm, faces criminal charges

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The Abia State Police Command has dismissed Police Corporal Obagi Njok from the Nigeria Police Force for discreditable conduct and misuse of firearms.

This followed the incident of misuse of firearm by the cop which reportedly led to the death of an Abia-born businessman identified as Emmanuel Okocha.

This is contained in a statement made available to our correspondent by the command’s Police Public Relations Officer, ASP Maureen Chinaka, on Wednesday.

According Metro gathered that the suspects faced disciplinary action and were found guilty of the misuse of a firearm after a thorough investigation by the police command and would be prosecuted in court for criminal charges.

The statement reads, “Disciplinary actions have been concluded by the Abia State Police Command. Relevant stakeholders including the family of the deceased were carried along at every step of the process.

“Police Corporal Obagi Njok (as he then was) was found guilty of discreditable conduct to with misuse of a firearm and has therefore been dismissed from the Nigeria Police Force. Investigation into the criminal aspects of his conduct has also been concluded and the matter has therefore been handed over to the office of the Attorney General and Commissioner for Justice Abia state on 24/05/2024 for prosecution in court.

“The Abia State Police Command remains steadfast in upholding professionalism and the rule of law. We unequivocally condemn any act of misconduct, unprofessionalism, and indiscipline among our officers.”

According Metro reported that the Abia State Police Command arrested Njok for shooting Okocha dead on Wednesday, April 17, 2024, for allegedly refusing to give him (Njok) money at a checkpoint.

A statement by the Police Public Relations Officer, ASP Maureen Chinaka, on Saturday revealed that Njok was attached to the Abayi Police Division before the incident happened.

While describing the incident as regrettable, the command said the corporal was apprehended, and necessary disciplinary procedures had been initiated.

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Over 250 kids, adults for MGBF Lagos b’ball programme

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At least 250 children and adults with and without disabilities as well as 30 coaches are expected to participate at the forthcoming Mani Giving Back Foundation basketball programme scheduled for Ilupeju, Lagos from July 24 to 28, organisers of the event have told The According.

Organised by Germany-based Michael Ani, Nigeria’s two-time Special Olympics World Games Head Coach, the events include basketball games, skill clinics led by experienced coaches and motivational sessions by top athletes and coaches.

“This event promises to be a major milestone in our journey. It goes beyond promoting sports; it aims to inspire young people by demonstrating that dreams can be achieved regardless of challenges,” Ani told The According.

He added that kids living with disabilities would be a major priority of the clinic, stating that it was part of his efforts in fostering an inclusive Nigerian society.

Ani stated, “In 2008, I embarked on a journey of volunteering, coaching children, and adults with disabilities in Nigeria. Back then, there were virtually no organised sports or events for these individuals. Witnessing the societal stigma and lack of opportunities, I felt a deep calling to bridge this gap. “Partnering with the Special Olympics Nigeria, we established the first basketball team for people with disabilities.

“I scouted and trained over 50 players with diverse abilities, preparing them for the World Games. Despite relocating to Germany to pursue my professional basketball career, my commitment to our mission hasn’t wavered. Since 2010, I’ve returned annually to conduct basketball and coaching training sessions in Nigeria.

“We introduced the Unified Games, fostering inclusion and teamwork by having athletes with and without disabilities play together. Our dedication culminated in representing Nigeria at the World Games in Los Angeles in 2015 and Abu Dhabi (2019).

“The journey has been both challenging and rewarding, and we continue to champion inclusivity and opportunities for people with disabilities in sports.”

The clinic gives back to the society through teaching, donating kits and scholarships among other basic amenities to Nigerians.

NCF takes cricket to Borno IDP camps

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The Nigeria Cricket Federation has completed a three-day special intervention programme at different Internally Displaced Persons camps in Maiduguri, Borno State, where they introduced the game to children and adults in the camps.

This comes after NCF president, Uyi Akpata, promised during the 2022 NCF Annual General Meeting in Abuja, to donate his allowances to the development of the game in the North East.

Food items and relief materials were donated to the various IDP camps visited by the members of the cricket family in the region.

Secretary-general of the federation, Sani Mohammed, who represented Akpata on the occasion, stated, “This is a fulfillment of the promise made by the president as part of the federation’s plans to spread the game of cricket across the nooks and crannies of the country.

“This is a special case of interest for the NCF, where cricket has been used as a tool to bring social change while restoring the hopes of those who have been grievously affected by the insurgency in the North East of Nigeria.”

Children in the camps received the donations and also learned how to play cricket.

Also present during the event was the Chairman, Borno State Cricket Association, Usman Danjuma; board member representing the North East in the NCF, Musa Jamai; NCF National Development Manager (Northern Region), Joseph Onoja, and development officers.

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Indian tennis sensation Thakkar relishes Nigerian food, Lagos traffic

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When Manav Thakkar competed at the 2023 edition of the WTT Contender Lagos, he never envisaged what would happen and despite his round of 16 exit, the tournament marked the beginning of his rise in the world ratings.

Already listed for the 2024 edition of the first WTT Series in Sub-Saharan Africa, the 24-year-old is eagerly looking for another fortune to smile on him in the commercial nerve centre of Nigeria, when the tournament serves off on June 19 to 23 at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium.

“As of today, I’m ranked 59 in the world but last year I was 140 before the 2023 WTT Contender Lagos and Lagos was the first event where I reached the last 16 after winning against higher-ranked players. Apart from my ranking, my level improved, so, this year I’m also very hopeful that I will do well,” he said.

The former U-21 World No. 1 described his maiden experience in Lagos as one of the best moments of his career, particularly the massive support from the Lagos fans. “The experience compared to other tournaments was very good for me. I enjoyed the food in Lagos. There were many varieties and I also got a lot of support from the people when I was playing the matches. These were the major things that helped me to do well in the event last year.

The unique thing about the event in Lagos is the food and the people. There is a bit of traffic in Lagos and there is also traffic in India as well, so I am used to it. People cheered every player during the matches and the players enjoyed playing it compared to other events and the food in terms of breakfast, lunch, and dinner. I could remember that the hotel used to give us one special Indian dish every day and the people were very friendly and helpful in Lagos,” Thakkar added.

For this year, Thakkar is optimistic about exceeding his 2023 round of 16 feat. “My expectation this year is to win a medal in singles and doubles, as well as in mixed doubles. I am really excited and looking forward to playing at the event in Lagos,” the right-handed shakehand grip star said.

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MEMAN advocates ethanol as alternate fuel, plans $7bn yearly savings

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The Major Energies Marketers Association of Nigeria has stated that ethanol could be adopted as a biofuel to help Nigeria in reducing energy poverty and emissions.

According to MEMAN during a recent quarterly press webinar and engagement, about $7.4bn could be saved annually by taking advantage of Nigeria’s ethanol resources as a biofuel to support petrol.

Ethanol is a biofuel that is commonly used as a substitute or additive to petrol in vehicles. It is typically produced through the fermentation of plant materials like cassava, corn, sugarcane, and others.

MEMAN noted that ethanol blended into biofuel as a transformative energy source has the potential to change Nigeria’s energy landscape and pave the way for a sustainable economy.

Experts, who spoke at the webinar, revealed that Nigeria had what it takes to exploit its ethanol to biofuel potential.

Presenting a paper titled ‘Ethanol as a Biofuel’, a Senior Consultant with Africa Practice, Agwu Ojowu, pointed out that developing the ethanol industry could save the nation about $7.4bn ba year.

“Nigeria’s cassava production, standing at 63 million metric tonnes annually, represents 26 per cent of the global total. However, with 40 per cent of this yield lost each year, there is a significant economic loss estimated at $7.4bn. Developing the ethanol industry could mitigate these losses, enhance economic stability, and capitalise on the depreciating currency to reduce costs,” Ojowu stated.

He emphasised that ethanol’s higher octane rating improves fuel quality and helps meet environmental standards by reducing sulfur content and greenhouse gas emissions.

Those attributes, he said, make ethanol a cost-effective and environmentally friendly alternative to petrol, aligning with Nigeria’s climate commitments.

Going down memory lane, Ojowu recalled that Nigeria’s foray into ethanol began with the 2007 biofuels policy, which mandated a 10 per cent ethanol blend in fuel.

 “Despite initial challenges, including the suspension of the policy in 2008, because of blending inconsistencies, the potential of ethanol remains significant. Ethanol’s cost-effectiveness compared to petrol has historically led to economic arbitrage, suggesting that a well-regulated biofuel market could be economically advantageous,” he said.

Ojowu added that ethanol presents numerous benefits, including economic, environmental, and agricultural advantages, without necessitating vehicle modifications.

The Executive Secretary of MEMAN, Clement Isong, also emphasised the role of renewable energy in addressing Nigeria’s energy poverty.

He highlighted the importance of diverse energy sources, including biofuels, solar, hydroelectricity, and wind energy, to create a balanced and sustainable energy mix.

“MEMAN is committed to engaging with industry stakeholders to advocate for energy solutions that meet Nigeria’s needs,” Isong said.

He expressed optimism about the future of renewable energy in Nigeria and the continued efforts to enhance press engagement and industry collaboration.

Post-subsidy PMS import costs rise by 31% –Report

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Nigeria’s cost of petrol importation has continued to rise despite an almost 50 per cent drop in the nation’s consumption rate, reports by the Nigeria Bureau of Statistics have shown.

The According reports that N2.63tn was spent on the importation of Premium Motor Spirit in the first quarter of 2024, which was 31.4 per cent higher than the cost incurred for the same purpose in the last quarter of 2023.

In the last three months of 2023, our correspondent estimated that N1.81tn was expended in importing petrol.

The country imported 6,372,422,896 litres of petrol at the rate of N1.49tn in the first quarter of 2023, according to reports from the NBS, putting a litre of petrol at N234 during the subsidy regime.

N1.51tn was spent in the first quarter of 2022 to bring in 5,782,767,749 litres of PMS, putting a litre around N260.

With the payment of fuel subsidies at that time, the pump price of petrol ranged between N165 and N200 per litre.

On May 29, 2023, when he was sworn in, President Bola Tinubu, announced an end to the fuel subsidy era, saying, “The fuel subsidy is gone.”

After the pronouncement, the price of petrol skyrocketed to around N550 per litre.

The price was later impacted by the government’s decision to float the naira.

The pump price of petrol is currently between N600 and N700, depending on the marketer and the location.

After the removal of fuel subsidies, the Federal Government said the nation’s oil consumption had reduced by 50 per cent.

“Petrol importation has been reduced by 50 per cent since the withdrawal of the fuel subsidy,” the Minister of Information and National Orientation, Mohammed Idris, said during a ministerial press briefing in February.

On February 18, 2023, about three months before Tinubu ended the PMS subsidy regime, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, revealed that Nigeria was consuming about 66 million litres of PMS daily.

 At that time, Kyari put the landing cost of petrol at around N315/litre.

 “Our customers are here; we are transferring to each of them at N113/litre. That means there is a difference of close to N202 for every litre of PMS we import into this country. In computation, N202 multiplied by 66.5 million litres, multiplied by 30 will give you over N400bn of subsidy every month,” Kyari said.

Going by the position of the information minister that petrol importation had dropped by 50 per cent, it implies that the volume of imports into Nigeria had reduced by about 33 million litres daily, based on NNPCL’s figures in February, implying that PMS importation had dropped by about 990 million litres in one month.

 Also, a report by the NBS showed that there was a reduction in the amount of fuel imported into the country months after the removal of the subsidy, indicating that the country consumed an average of 1 billion litres per month.

However, despite this 50 per cent reduction claim, the cost of PMS imports was reported to be on the increase.

Experts have attributed the increase to the depreciation of the naira against the dollar.

In the first quarter of 2024, when the country spent N2.63tn on fuel imports, the government was said to have imported a litre of PMS at the rate of N878 if the monthly import volume is pegged at 1 billion litres and three billion litres for the quarter.

This has been the reason many stakeholders have been accusing the Federal Government and the NNPCL of secretly paying the subsidy; an allegation the government has denied repeatedly.

Recently, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said, “Let me say categorically that the President had rightly said, on the day he was sworn in; he said subsidy is gone. The last government did not make any provision for subsidy in the 2023 budget.

“And I can confirm to you that subsidy is gone. But there could be strategic interventions from time to time. But officially, the subsidy is gone. If you look at the Petroleum Industry Act, the NNPC, as a national oil company, also has a legal obligation to intervene from time to time.”

Meanwhile, the International Monetary Fund had earlier warned that with pump prices and tariffs below cost-recovery, “implicit subsidy costs could increase to 3 per cent of GDP in 2024 from 1 per cent in 2023”.

It noted that those subsidies were costly and poorly targeted, with higher-income groups benefiting more than the vulnerable.

The IMF reechoed, “The implicit fuel subsidy could gulp as high as N8.4tn in 2024 from N1.85tn in 2023; N4.4tn in 2022; N1.86tn in 2021 and N89bn in 2020.”

NNPC, Golar LNG sign offshore gas deal

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As part of efforts to monetise Nigeria’s vast natural gas resources, the Nigerian National Petroleum Company Limited has executed a project development agreement with Golar LNG for the deployment of floating liquefied natural gas offshore in the Niger Delta.

The signing ceremony, which took place on Monday, was attended from the NNPC Limited side by the Chief Financial Officer, Umar Ajiya; Executive Vice President, Gas Power & New Energy, Olalekan Ogunleye and Executive Vice President,  Upstream, Mrs Oritsemeyiwa Eyesan; while the Golar LNG team was led by Karl Fredrik Staubo (CEO).

A statement by the NNPC spokesman, Olufemi Ogunseye, said the agreement was another major milestone achievement towards ensuring gas commercialisation through the deployment of an FLNG Facility in Nigeria, in line with President Bola Tinubu’s resolve to rapidly commercialise Nigeria’s gas assets for the economic prosperity of the nation.

”The agreement aims to monetise vast proven gas reserves from shallow water resources offshore Nigeria. The PDA also outlines the monetisation plan that will utilise approximately 400–500 million standard cubic feet of gas per day and produce LNG, LPG and condensate. The partners, NNPC Limited and Golar LNG, have both expressed their commitment to achieving a final investment decision before the end of Q4, 2024 and the first gas by 2027.

“Golar LNG Limited is a renowned independent owner and operator of LNG infrastructure, including carriers, floating storage and regasification units, and floating liquefaction vessels,” Soneye noted.

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