Home Blog Page 2106

CBN: Banks’ Assets Increased By N12trn In One Year

By
James Orji
-
0
Godwin Emefiele

The Central Bank of Nigeria, CBN has revealed that Nigeria’s total banks’ assets grew by over N12 trillion between May 2021 and June this year. The apex bank said the sector has remained resilient in spite of the economic upheavals.

Aisha Ahmad, CBN Deputy Governor Financial System Stability Directorate, disclosed this at the end of the Monetary Policy Committee, MPC meeting in July.

According to her, the banking sector’s total assets grew by 22.07 percent from N53.64 trillion in May 2021, to N65.48 trillion as of June this year.

Ahmad stated that the growth was supported by the total customers deposits which grew by over N42 trillion.

Breaking down the figures, she said the industry’s assets “continued their year-on-year upward trajectory with total assets rising to N65.48 trillion in June 2022 from N53.64 trillion in June 2021, while total deposits rose to N42.03 trillion from N33.85 trillion over the same period.”

“Gross credit has maintained an upward trajectory since 2019, rising by N5.02 trillion between June 2021 and June 2022 with significant growth in credit to manufacturing, general commerce and oil and gas sectors. This notable increase was achieved amidst continued decline in non-performing loans ratio from 5.3 per cent in April 2022 to 5.0 per cent in June 2022. “

She said the CBN must act to stem the tide of rising inflation and intervene in critical areas of the economy that can support growth, apart from tightening monetary policy.

Ahmad said “The monetary authority must act to better anchor elevated inflation expectations of economic agents following months of rising inflation and recent multiple shocks. Interventions and continued funding of the real sector give room for tightening the monetary policy stance to better anchor inflation expectations, mitigate demand driven inflation and ultimately preserve output gains.

“More importantly, the evolution of consumer prices in recent months and the uncertain short-term outlook present credible grounds to raise the policy rate.”

Insecurity: Catholic Bishop Laments Killing Of Priests, Says Buhari Helpless

By
James Orji
-
0
President Buhari

By James Orji

Rev. Peter Chukwu, the Catholic Bishop of Abakaliki Diocese, says President Muhammadu Buhari has become helpless in the face of insecurity pervading the country.

He said the country is gradually being Islamised under the watch of President Buhari.

The catholic bishop spoke on the back of the abduction of 36 persons in Ondo state by suspected terrorists. The abductees were coming from a burial ceremony when they were kidnapped by the criminals who are still at large, on the border between the state and Edo state.

In Zamfara state, suspected bandits are said to have been forcing their victims to work on their farms.

Not a few Nigerians insist that President Buhari as commander in chief is not hard enough on the criminals who currently have a swathe of the country’s land under their control.

Responding to Nigerians’ worry over worsening insecurity two days ago, the Minister of Communication and National Orientation, Lai Mohammed said the government has tackled the problem headlong, saying the administration is in “the last stage’ of ending the problem.

Speaking on Monday after the inauguration of the Catholic Media Practitioners Association, CAMPAN, Ebonyi State branch, the bishop said the president has become helpless.

The clergyman said the situation has become so worrisome in the sense that the bandits now target men of God.

Many Nigerians, he said have lost confidence in the Buhari-led All Progressives Congress to tackle the problem.

The bishop said: “We have lost so many Priests in the North and also in the southeast and it is so worrisome but I am not surprised because Priests and Prophets are always the victims of persecution throughout church history.

“It shows what the Priests represent and stand for, and what we preach is pricking them in their conscience, and instead of repenting, they decided to fight back by killing, kidnapping, torturing, and destroying our churches.

“But I am consoled by the statement of Christ in Matthew 16 vs 35 that no gates of the underworld shall ever prevail against the church. The church comes out strong when you push it to the wall.

“It will be unfair to say that the church as a body has compromised. Many individuals who work for the church and feel that they are very friendly to the government are no longer holding the government accountable but if you listen to what is preached in the different dioceses, you will see that no Priest is comfortable when any government is not doing what it is supposed to do for the masses and we are also vocal about it and we are always critical about it.

“But we want to be constructive in our criticisms; no Priest who has been well trained can feel comfortable in the face of all the terrible things that have been happening around.

“When Buhari was campaigning for the Presidency, he was coming with his credentials as a former military leader who was an anti-corruption crusader who did not tolerate any corruption or nonsense.

“They promised to nip in the bud, all cases of Boko Haram attacks. Unfortunately, when he took power, he failed to prosecute those people using him to Islamize Nigeria and that is why the government is helpless to combat the problems.

“If you look closely, you will see that all the leaders of our security apparatus are from the core Fulani North. It has never been like that in the history of Nigeria.

“There is an imbalance in the appointments of the Leaders of the security architecture. It is so lopsided that they will always execute their agenda without much opposition.

“Come to think of it again, a lot of people have lost their voices because what you say will come after you but despite that, rational people are very uncomfortable with what is going on. It is unfortunate.  We have lost faith in the current government to restore security.

“What we are praying for is a peaceful, free, and fair election that will usher in God’s chosen leaders who will solve the problems of this country, and if that problem is not solved, the continued existence of Nigeria as a corporate entity is under a very serious question mark.”

Charles Ihua-Maduenyi, SAN,  Dies On Way To Airport

By
The Source
-
0
Charles Ihua-Maduenyi

By Gideon Njoku

The Legal profession has lost one of its brilliant minds.

A senior member of the Bar, Charles Ihua-Maduenyi has just passed on.

Ihua-Maduenyi, born on December 9, 1958, died of suspected heart disease on his way to the Nnamdi Azikiwe International Airport to pick his wife.

A source disclosed that he allegedly developed sudden heart palpitations, and died almost immediately.

He was called to the Bar in 1986, and was a Commissioner both in the Governments of Dr Peter Odili and Celestine Omehia.

Until his sudden death, he was based in Porthacourt, Rivers State.

Kuje Prison Invasion: How Terrorists Overpowered 65 Armed Security Men – Minister Aregbesola

By
The Source
-
0

By Gideon Njoku

The helplessness of Nigeria’s Military in its fight against Terrorists was laid bare Monday on the floor of the House of Representatives before the House Committee investigating the Invasion of the Kuje Correctional Centre, Abuja.

Terrorists had, on July, 5, 2022, invaded the Correctional Centre where they wreaked havoc and released a total number of 888 inmates, including suspected 64 terrorists who were in custody.

Laying bare the shameful situation was the Minister for Interior, Rauf Aregbesola.

The Minister appeared before the House Committee on National Security and Interior which is investigating the embarrassing Invasion of the Kuje Correctional Centre.

Embarrassing as the incident was, the Minister’s submission raised it a notch higher, and explained the helpless furious questions asked  by President Muhammadu Buhari when he visited the Centre after the Invasion.

“How could this happen? I need answers. Where were the Security people”, the angry and obviously embarrassed President asked.

Before the House Committee, Minister Aregbesola admitted that Security agents deployed to the Centre failed.

He disclosed that there were 65 of them at the time of the invasion of the Centre, yet, not even one terrorist was killed, injured or arrested. Instead, a Security agent and three others, perhaps, inmates were killed.

Speaking to the shocked members of the Committee, Aregbesola said: “In that Facility on that day of Invasion were 31 Military personnel of the Nigerian Army, five personnel of MOPOL 50, two personnel of Counter Terrorism  Unit of the Nigeria Police Force, two personnel of Kuje Police Division, seven personnel of Nigeria Immigration Service,  three personnel of Nigeria Security and Civil Defence Corps, and 10 personnel of the NCoS armed squad.

“These 65 people were there for the specific responsibility of assisting and preventing any attack, and they were all armed.

The Minister who refused to disclose, publicly, the type of arms they carried,  however, gave an idea how sophisticated the weapons the 65 Security personnel carried.

He said: “Because of the presence of the Press here, I will not tell you the great arsenal in their possession, but they were well-armed.  If we have an exclusive arrangement, I will tell you the specifics of the great equipment of the Military arsenal that was positioned for the defence of the Facility.”

Admitting failure, Aregbesola said: “However, despite everything, our arrangement for protection of Kuje failed and the Facility was breached.”

One of the questions which the Committee will strive to seek answers to is:  why the Security personnel did not deploy the arsenal with them. Another is where they were – asleep or in hiding. If not, what resistance did they put up?

At the time of the attack, according to the Minister, there were 994 inmates. 64 of them were terrorism suspects. Sadly, they were among the 888 inmates who escaped. Out if the 888 inmates, 554 of them were awaiting trial. 71 were convicts, 36 on death row, while 17 of them were serving life sentences. 106 inmates stayed put. They included former Governors of Plateau and Taraba States, Joshua Dariye and Jolly Nyame respectively, and suspended Deputy Commissioner of Police, Abba Kyari. While Dariye and Nyame have now been released based on the pardon granted them by President Buhari, DCP Kyari is being prosecuted for alleged drug offences by the National Drug Law Enforcement Agency, NDLEA.

More than two months after the Invasion, no head has rolled. It is business as usual.

The Directorate of Security Services, DSS had, it has been reported, tipped the relevant authorities  and Agencies off on the planned attack. Nothing was done, and the attack was successfully carried out.

Wike To PDP: “When The Time Comes, We Will Know Who Has The Capacity To Say This Is Where Our State Will Go”

By
Adesina Soyooye
-
0

By Adesina Soyooye

“We have not started campaign. When I came back yesterday (Sunday) where I went to enjoy myself, life is full of enjoyment. I went to enjoy my life, and they said I went for a meeting

The ante of the crisis between the Peoples Democratic Party, PDP, and the Camp of the Rivers State Governor, Nyesom Wike, went a notch higher on Monday, September 5, 2022.

Wike, not for the first time, but this time, more emphatically, said he will direct his State where and how to vote in the oncoming 2023 General elections.

The Governor has been at loggerheads with the PDP Presidential candidate, Atiku  Abubakar, and the leadership of the Party, since he lost out in the Presidential Primary, to Atiku  and the subsequent choice of Delta State Governor, Dr Ifeanyi Okowa, as Atiku’s running mate, thus dashing Wike’s expectations.

He has been openly romancing Presidential candidates of other Parties, especially, those of the All Progressives Congress, APC, Bola Tinubu, and  the Labour Party, LP, Peter Obi.

Wike has not hidden the fact that he and his State may not vote Atiku, insisting that Rivers Votes are not for free.  Meaning that the State would, by his direction, go to the highest bidder, meanig again that it will go to who gives his people a better deal. To Wike, Party loyalty is secondary.

Speaking in Aba, Abia State, on Monday, September 5, 2022, where he went to inaugurate the Osisioma Flyover constructed by the Governor Ikpeazu administration, Wike took a swipe at the PDP.

He said the Party had already shared offices against 2023, in anticipation of its victory, but asked its leaders to wait till the campaign begins.

Boasting, he said Ikpeazu, who Wike claimed his State was excluded from the sharing of offices, has the  capacity of directing Abia people where to direct their votes to thus, indirectly saying that he, Wike, also has the  same capacity.

He said the abuses he receives do not move him because he enjoys them. He, however, taunted, “We will know who is relevant or not at the appropriate time. What is important is when the time comes, we will know those who have the capacity to say this is where our State will go.”

On his Camp’s alleged recent meeting with the APC Presidential candidate, Bola Tinubu a couple of days ago in London, Wike made a joke of it. He said: “I went to enjoy myself. Life is full of enjoyment. I went to enjoy my life and they said I went for a meeting. My business now is to work and enjoy.”

Wike: “Nobody should bother about any abuses on me. I don’t even know whether they are abusing me. If they like let them put everything in social media and abuse me. We will know who is relevant or not at the appropriate time.

“Politics is not to go on pages of newspaper. It is not to go and buy TV spots and talk. Politics is who will deliver at the appropriate time. That is the key. If you like keep abusing me.

“What is important is when the time comes, we will know. When the jungle matures, we will know those who can stand crisis. We will know those who have the capacity to say this is where our state will go.

“Ikpeazu is one of those Governors with the capacity to decide what the people of Abia will do. So don’t bother yourselves.

“When I wake up in the morning and nothing had been said against me I am worried because it makes me happy when they talk about Wike. I appeal to them don’t stop keep talking about Wike.

“We have not started campaign. When I came back yesterday where I went to enjoy myself, life is full of enjoyment,  I went to enjoy my life.  And they said I went for a meeting. My business now is to work and enjoy”.

Wike To Abians: PDP Has Shared All Positions  Against 2023 And Left Abia State Out

By
Adesina Soyooye
-
0
Nyesom Wike

By Adesina Soyooye

Rivers State Governor, Nyesom Wike, has given a window into why he and the Governors in his Camp are fighting the leadership of the Peoples Democratic Party, PDP.

Until now, the belief was that the fight stemmed from the fact that Wike lost out in securing neither the Presidential nor the Vice Presidential ticket of the Party.

Former Vice President, Atiku Abubakar, took the Presidential ticket and picked Delta State Governor, Dr Ifeanyi Okowa as his running mate as against Wike’s expectations. Since then, Wike’s anger has risen to high heavens.

But it seems there is more.

According to Wike, Abia State Governor, Dr Okezie Ikpeazu, a member of Wike’s Camp, is fighting because the PDP, in anticipation of its victory in 2023, has shared out all the high profile positions in the country, and gave none to Abia State.

Wike did not, however, say if it was the same case with his State, Rivers, and other States which Governors are in his Camp –  Samuel Ortom’s Benue, Seyi Makinde’s Oyo,  and Ifeanyi Ugwuanyi’s Enugu.

Speaking in Aba, Abia State, where he went to commission the Osisioma Flyover constructed by the Ikpeazu administration, Wike said that the PDP has already shared out all positions, including the Senate President,  the Secretary to Federal Government and other high profile offices without any ceded to Abia State.

He revealed that the positions were shared to Atiku, Okowa and former Senate President, Dr Bukola Saraki and none was given to Governor Ikpeazu’s Abia State.

Wike told the people that Ikpeazu is fighting because of them. He lamented that the National Chairman of the PDP, Dr Iyorchia Ayu, called them small boys because they were asking for justice and equity and the fulfillment of agreements earlier reached.

Wike: “All those they are fighting are those who are projecting their party. They said that Abia State Governor is a boy. Wike is a boy. Seyi is a boy. Ortom is a boy and Enugu ( Ifeanyi Ugwuanyi) is a boy.

“See what the boys are doing. They that are the men should show us what they are doing.

“Why is Ikpeazu a boy? It is because Ikpeazu said agreement is agreement. You told me you will do this, now time has come for you to do it,  you don’t want to do it. Is it good?

“Ikpeazu said look, you have shared to this one, you shared to Atiku, you shared to Okowa and you shared to Saraki, which one did you share to Ikpeazu?

“When you are sharing Senate President to so so person, you shared Secretary to Government to so so person, which one have you given to the people of Abia.”

Ondo: Abductors Of Burial Guests Demand N90m Ransom; Count Us Out Of Deal – Govt

By
The Source
-
0
Bamidele Ademola- Olateju

By Ayodele Oni

Ondo State Government on Monday announced that abductors of some burial guests in Ondo State have demanded a ransom of N90m to release them.

State Commissioner for Information, Mrs Bamidele Ademola- Olateju, who disclosed this in Akure said the kidnappers are demanding between N3m and N10m to release each of the victims.

The victims were ambushed somewhere between Ondo and Edo states boundary at the weekend while returning from a burial ceremony in Ewatto, Edo State when they were attacked.

Mrs Ademola-Olateju, pointed out that the State Government was not involved in the ransom negotiation saying that payment of ransom empowers kidnappers to do more harm.

“The victims went for a burial at Ewatto town. They were returning in a 32 seater Coastal bus hired from Rufus Guwa Polytechnic when they were attacked by suspected kidnappers. The kidnappers shot into the air and took 18 of the passengers.

“Those remaining called the Amotekun Corps who got to the scene within 15 minutes. Seven of the victims were found while others were whisked away.

“Amotekun is working with the police, the DSS and the Nigerian Army to secure release of the remaining mine victims.

“They are demanding ransom of between N3m and N10m.

“We commend the gallant of Amotekun Corps in getting to the scene.

“Ondo State will not be a safe haven for criminals. They find this spot convenient because it borders Edo State. They will strike and run back into Edo State.”

Wike To Ikpeazu:  Don’t Ask Me To Leave My PDP Enemies To God; God Is Busy;  I Will Flog, Pepper And Crush Them

By
Adesina Soyooye
-
0
Wike and Ikepeazu

By Adesina Soyooye

Rivers State Governor, Nyesom Wike has sworn not to leave those he identified as his Political enemies in his Party, the Peoples Democratic Party, PDP, to God.

He said God is too busy and should not be disturbed. He said God has given him, Wike, the wherewithal and power to deal with his enemies. He said he would flog and pepper them and would never leave them in the hands of God as the ultimate Judge.

The Governor made his stand public on Monday while inaugurating the Osisioma Flyover, Aba, Abia State, build by Governor Okezie Ikpeazu.

Wike has been at loggerheads with the PDP Presidential candidate, Atiku  Abubakar, since Atiku beat him to a second place in the PDP Presidential Primary, and refused to pick him as his running mate in favour of his Delta State counterpart, Dr Ifeanyi Okowa. There us also a long list of those he is fighting in tye PDP over Atiku, including the National Chairman, Dr Iyorchia Ayu, and a number of Party Chieftains in, almost all the States, including Rivers State.

All appeals to him to let go and allow peace to him have been in vain. Almost on everyday basis, he taunts and threatens the PDP, Ayu, Atiku and other Party chieftains. He is also openly romancing the Presidential candidates of other Parties, especially, Peter Obi of the Labour Party and Bola Tinubu of the All Progressives Congress, APC.

On Monday, Wike told his listeners how Ikpeazu, one of the Governors in his camp, asked him to let go and let God fight the battle.

He told his response to Ikpeazu. He said he told Ikpeazu that God was occupied with so many other things and that there was no point disturbing God when God has equipped him to pepper, flog and crush his political enemies in the PDP.

Why disturb God, he said, when God already gave him the capacity to crush such people.

Wike: “I was on a plane with him (Ikpeazu) and we were discussing, and he said why won’t I leave this thing for God and I said what do you mean by that?

“Why are you overcrowding God? God has given me what it takes for me to crush these people, for me to crush my enemies and you are telling me I should leave it for God.

“No. God has given me what it takes. God has so many things to do. There are the ones I should do and there are the ones I should call God.

“Now that I know I have the capacity to flog these small boys and you want me to go and leave it for God. I am going to flog them pepper. Anybody who doesn’t understand that let him know that I am not going to wait at all.

“All those ones who are talking in my state calm down, when we start campaigning, we will know who is who.”

He also dismissed, as a waste of time, efforts to lobby and break the ranks of, especially, Governors in his Camp.

Wike: “I don’t associate myself with those who cannot show anything. I associate myself with people I know have something to offer. Ikpeazu I want to say it without fear or favour and without any contradiction, you are a man that knows what to do for his people.

“I and Ikpeazu have come a long way. People do not understand relationship. They think relationship can be bought with money. No relationship can be bought with me.

“That is why when I read on pages of newspapers, they said some people were making attempts to break my rank and I say they don’t understand the modus operandi of what we are doing.

“If they understand the modus operandi, they won’t waste their time. If you like go and meet Ikpeazu, Seyi, Ortom, Ugwuanyi, you don’t even understand the modus operandi.

“These are not the people doing what you are seeing. We are using ourselves as if we are the people. We are not the people so you are making mistakes”.

2023: Peter Obi Group Demands Explanation From INEC Over Destruction Of PVCs In Rivers, Lagos

By
Akinwale Kasali
-
0
Peter Obi

By Akinwale Kasali

Electoral Umpire, the Independent National Electoral Commission, INEC, has been put on the spot to give an explanation over the mass dumping of Permanent Voter Cards in major cities of Lagos and Port Harcourt, Rivers State.

The Group is under the aegis of Peter Obi Support Network, a Group supporting and championing the Presidential Aspiration of Labour Party, LP, Presidential Candidate, Peter Obi.

In a letter submitted to the electoral body and dated August 30, 2022, the Group said the PVCs being exhumed from dump sites and gutters exposed confidential information of owners of the mutilated cards.

In the statement made available to the Media on Monday, the Group expressed fears and worries over the PVCs of eligible Nigerians exhumed from gutters and refuse dumps of major cities.

It reads, “In the last few weeks, various disturbing viral videos on social media platforms, notably Facebook and Twitter, showed thousands of PVCs of eligible Nigerians being exhumed from gutters and refuse dumps in major cities like Lagos and Port Harcourt, Rivers State on a daily basis, showing the names, pictures and other confidential information of owners of the mutilated cards.

“We find such disturbing viral videos extremely worrying and politically demotivating, taking into cognisance the arduous rigorous process the average Nigerian faces in an attempt to comply with the registration demands prescribed by your agency, only to be flushed away, mutilated and destroyed in such a wicked, callous and dehumanizing manner by supposed staff working under your office for whatever selfish motives that may have actuated their horrible actions.”

It also demanded that INEC relocate the polling unit almost inside the residence of one of the major contenders for the 2023 presidential election in Bourdillon, Lagos State.

It said, “We have received credible reports from our members resident near Bourdillion in Ikoyi, Lagos, a particular polling unit is sited disturbingly close to the personal residence of one of the major contestants in the forthcoming presidential elections slated for February 25, 2023, making them highly apprehensive of their ability to vote freely on any election day.

“Their fears are not without foundation, judging from events of the past elections where political thugs and social miscreants loyal to the cause of the presidential candidate had sought to undermine the peaceful voting process via violent intimidation in a bid to stop voters from voting for candidates of their choice, even when the suspected candidate was not a direct contestant in previous elections.”

The group further requested that all INEC officials who have manifestly connived and colluded with anti-democratic elements in the country should face prosecution to deter others.

POSN demanded the creation of “practical and verifiable platforms where registered voters denied their rights to ownership/possessions of PVCs could ventilate their complaints and have same expeditiously remedied via the issuance of PVCs to them without delay.”

CNPP To Buhari: Replace NNPC Boss And Management Team, With Private Sector Players To Save Nigeria’s Economy

By
The Source
-
0
Buhari Unveils New NNPC

Worried that while oil producing countries globally are experiencing a boost in their revenue generation as a result of the increasing international prices of crude oil, Nigeria has continued to suffer decline in earnings, the Conference Of Nigeria Political Parties (CNPP) has again called for the sack of the management team of the newly registered Nigerian National Petroleum Company Limited (NNPC Limited) urging President Muhammadu Buhari to replace them with prudent private sector players to save the country’s economy.

The CNPP in a statement signed by its Secretary General, Chief Willy Ezugwu, noted that “it will be impossible for Nigeria to continue with the ongoing corrupt fuel subsidy regime that mainly serves the economic interest of the individual members of the NNPC management team and our mono-economy will survive in coming months.”

The umbrella body of all registered political parties and political associations in the country was reacting to the claims by NNPC Limited that Premium Motor Spirit (PMS) will cost consumers N462 per litre without the federal governments subsidy.

The CNPP said that “it is worrisome that despite the huge assets available to NNPC, both as a public corporation and now so-called commercial company, Nigeria has never at any time felt positive impact of the company due to endemic corruption in the oil industry, especially the high level looting of the treasury through scams like fuel subsidy payments and consistent ineffective turn around maintenance of outdated Nigerian refineries.


“For instance, turn around maintenance of the four refineries in Nigeria has remained a perpetual conduit pipe deployed by virtually every management team of the NNPP under successive administrations to siphon the country’s commonwealth.


“Till date, despite several billions of dollars invested in the turn around maintenance of the Nigerian refineries, none of them has ever worked optimally.


“Rather than pursue the construction of new refineries,  the NNPC management will conveniently opt for endless renovation of the old refineries for personal economic gains.

“The current management of NNPP Limited has continued on the same path of pursuing another turn around maintenance projects at Nigeria’s moribund refineries rather than building new ones with modern refining technology.


“The only visible reason for the insistence on revamping the old refineries is because it affords successive NNPC management team an unfettered access to the country’s national treasury for personal corrupt enrichment.


“The CNPP will continue to insist that if the newly registered NNPC Limited will meet its full targets and become a truly commercially viable company, the current leadership of the company must be replaced by industry players from the private sector.


“Nigeria cannot afford to continue in this journey to nowhere called turn around maintenance of the country’s refineries and the endless looting by NNPC officials in the name of fuel subsidy.

“Unfortunately, Nigeria is unarguably the only oil producing country today that is not benefiting from the current high prices of crude oil in the international market such that Nigeria’s NNPC has been operating at a loss due to increasing subsidy claims and oil-theft under the watch of the Kyari-led NNPC management team.


“Recently, the Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (retd.), brought this national calamity to the fore when he categorically ascerted that NNPC Limited cannot justify the volume of Premium Motor Spirit (petrol) being consumed in the country daily to warrant the over N6.34tn subsidy payment on the commodity annually.


“He unequivocally said that the NNPC cannot scientifically prove 98 million litres per day consumption it is claiming.

“The customs boss was clear that the nation’s oil company was supplying an excess of 38 million litres of PMS daily by the NNPC’s own claims.

“The customs boss’ argument is in tandem with the CNPP’s age-long position that NNPC is run by successive corrupt management team and now the subsidy fraud has been elevated to a new level by the current management team led by Mallam Mele Kyari.


“No sane person does a thing in the same way and expect a different result.


“To underscore the level of looting in NNPC under the President Muhammadu Buhari administration in the guise of fuel subsidy as supervised by Mallam Kyari, inflating the daily domestic consumption of patrol has remained a norm in the NNPC.

“In the words of the Customs boss, Col. Ali, “If we are consuming 60 million litres of PMS per day, by their own (NNPC’s) computation, why would you allow the release of 98 million litres per day? If you know this is our consumption, why would you allow that release? Scientifically, you cannot tell me that if I fill my tank today, tomorrow, I will fill the same tank with the same quantity of fuel. If I am operating a fuel station today and I go to Minna depot, lift petrol and take it to Kaduna, I may get to Kaduna in the evening and offload that fuel. There is no way I would have sold off that petrol immediately to warrant another load. So, how did you get to 60 million litre per day?” as Col. Ali queried.

“This has remained the question CNPP is asking.


“Recall that the current NNPC boss, Mallam Mele Kyari has been part of the old system in the NNPC and he has not proved that anything can be done differently since he  assumed office because he has been part of the corrupt NNPC system since 1998.

“It is imperative to note that Mallam Kyari started his career with the Department of Geological Survey of Nigeria as Field Geologist before working as an Exploration Geophysicist with the National Petroleum Investment Management Services (NAPIMS) in 1998.

“By 2007, Kyari headed the Production Sharing Contracts Management in Crude Oil Marketing Division (COMD) and by 2014, he became the General Manager, Crude Oil Stock Management while in 2015 he was promoted to the post of Group General Manager of the Crude Oil Marketing Division of the NNPC.

“Nigerians can see why NNPC under Mallam Kyari’s leadership, whether as a government owned corporation or government owned commercial company, will remain a big minus in the oil sector so long he remains at the helm of affairs alongside his inefficient management team”, the CNPP stated.

1...2,1052,1062,107...3,141Page 2,106 of 3,141