Oil and gas
Missing US$15 billion revenue: Coalition calls out SERAP
***backs Mele Kyari over achievements
Coalition of North and Southern Youth Forum (CNSYF) has called out the Socio-Economic Rights and Accountability Project (SERAP) over its role in the alleged lawsuit against President Bola Tinubu on alleged missing fund of US$15 billion oil revenues, and N200 billion budgeted to repair the refineries in Nigeria between 2020 and 2021.
SERAP had urged President Bola Tinubu to set up a presidential panel of enquiry to probe the allegations contained in the recent reports of Nigeria Extractive Industries Transparency Initiative (NEITI) that over US$15 billion and another N200 billion are missing and unaccounted for between 2020 and 2021.
However, the coalition made up of over 520,000 groups from ethnic nationalities including religious, professionals and union groups with notable stakeholders cutting across the six geopolitical zones including Niger Delta Ex-militant leaders unanimously agree to give support to the Group Chief Executive Officer, GCEO, Nigeria National Petroleum Company Limited, NNPCL, Engr Mele Kyari, a game-changer of the oil and gas sector amid orchestrated blackmails.
President /National Coordinator of the coalition Comrade Emmanuel Fiawei Pathfinder described SERAP action as sheer blackmail to vilify the Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited, NNPCL, Engr Mele Kyari.
“This is really a shame for an organization such as SERAP to run to court without concrete evidence to file a so-called lawsuit against Mr President for failure to probe missing fund of US$15 billion oil revenues, and N200 billion budgeted to repair the refineries.
Pathfinder who is also the convenet of the group accused SERAP to have been sponsored by some disgruntled elements who call themselves politicians that are neck-dip inside stealing the nation’s crude oil for self aggrandizement at the detriment of Nigerians.
“SERAP’s stock in trade has been cheap blackmail of government and individuals under the guise of activism.
“They are well known for that and also have allowed itself to become so cheap for these corrupt Nigerians they supposed to fight and expose, therefore, are using them to score cheap political points.
“As far as their allegations and claims are concerned SERAP does not have the evidence to prove their points because they work on hearsays.
“They just want to paint the GCEO of NNPCL, Engr Mele Kyari, in bad light despite his sincere effort to sanitize the oil and gas sector, which had blown off most illicit businesses engaged in by their paymasters.
“We challenge SEPAP to publish their evidences and let the world see them. Definitely, if you fight corruption, corruption will fight back, and that is exactly what SERAP is doing as dirty job for oil thieves.
“It is a pity for SERAP to debase itself by stooping so low because of what they will get at the end of the day.
“It is also important we make it very clear about the 2021 report by the NEITI, SERAP failed to make its background check before running to court.
“With evidence we want the world to know that NEITI made error in publishing the report without due process and verification.
“After NEITI was shown the true figures, they acknowledged their fault and had long apologized over the report SERAP is running with because they are on errand to deliver their tissues of lies to favour their paymasters.
“It is really uncalled for, SERAP has not done well at all to pray the Court to issue a so-called order of mandamus compelling Mr President to do this and that.
“Meanwhile, categorically we state here that the Nigerian National Petroleum Company Limited (NNPCL) had since refuted the report that it failed to remit $15 billion in oil revenues accrued to the Federation’s account.”
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has querried the rational behind the Nigerian National Petroleum Company Limited (NNPCL) projections that make the price of petrol lifted from the Dangote Refinery higher than imported ones.
IPMAN’s National Welfare Officer, John Kekeocha spoke on Channels Television’s, the Morning Brief breakfast programme.
“If NNPC can sell Dangote products higher than the imported products, then it doesn’t make sense.
“What is the celebration we are having all these while then?” he querried.
Recall that the NNPCL started loading the first batch of petrol from the Dangote Refinery on Sunday.
The NNPCL had stated that it got the petrol at N898 per litre from the private refinery.
Meanwhile NNPCL retail outlets in Lagos have been selling petrol for around N855 before lifting petrol from the Dangote Refinery on Sunday.
However, a litre of Dangote petrol now sell for N950 per litre in Lagos and N1,019 in Borno.
The association urged NNPCL to ensure the product is not sold at a higher price than imported fuel.
IPMAN argued that such a disparity would be counterproductive to the nation’s drive for energy self-sufficiency and could negatively impact consumers and marketers alike.
According to IPMAN the pricing strategy for locally refined petrol should reflect the advantages of domestic production, offering Nigerians a more affordable option.
The association emphasized that maintaining competitive pricing is crucial for the success of the Dangote Refinery and for fostering a sustainable fuel market in the country.
The Dangote Refinery has described as misleading, claims by the Nigerian National Petroleum Company Limited (NNPCL) that it sells petrol at N898 per litre.
The refinery spokesman, Anthony Chiejina insisted that the NNPC’s claim is mischievous with the intent to undermind the refinery’s achievement in addressing energy insufficiency.
Chiejina urged Nigerians to disregard the statement and await an official announcement on pricing from the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by President Bola Ahmed Tinubu.
The denial is coming amid speculations of a higher price for petrol from the Dangote refinery, with marketers warning of difficulties in purchasing the commodity without government intervention.
Chejina said, “Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.
“This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.
“We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu
The Nigerian National Petroleum Company Limited (NNPCL) has claimed that it is buying petrol from the Dangote Refinery at N898 per litre, signaling the start of operations at Africa’s largest oil refinery.
The first batch of petrol loading commenced on Sunday, with NNPCL trucks seen at the refinery in Ibeju-Lekki, Lagos.
This move follows a recent announcement by the Presidential Committee on the Sale of Crude Oil and Refined Products, outlining agreements for crude oil supply and refined product distribution in Naira.
The trucks, belonging to the Nigerian National Petroleum Corporation Limited, were seen in videos posted on the X handle of the Dangote Group.
“First set of trucks set for loading of PMS at the Dangote Petroleum Refinery,” the post read.
On Saturday, the NNPCL stated that hundreds of trucks would be deployed to the refinery today (Sunday) for PMS loading.
The NNPC stated, “In preparation for the Dangote Refinery’s scheduled petrol loading on Sunday, 15th September 2024, NNPC Ltd has been mobilising trucks to the refinery’s fuel loading gantry in Ibeju-Lekki. As of Saturday afternoon, NNPC Ltd had deployed over 100 trucks, with hundreds more en route.”
He said, “We successfully loaded PMS at the Dangote Refinery today.
“The claim that we purchased it at N760 per litre is incorrect.
“For this initial loading, the price from the refinery was N898 per litre.”
This comes two days after the Presidential Committee on the Sale of crude oil and Refined Product announced that loading of the first batch of petrol from the Dangote Refinery will commence on September 15.
A member of the committee and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, disclosed this in Abuja on Friday.
Briefing journalists, the FIRS boss said that from October 1, the Nigerian National Petroleum Company Limited (NNPCL) will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira.
“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September,” Adedeji stated.
He explained that Dangote Refinery will in return supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.
Other deliberations reached by the committee include the sale of Diesel in Naira by the Dangote Refinery to any interested off-taker while PMS will only be sold to NNPC.
“From 1 October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira.
“In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.
“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now. All associated regulatory costs will also be paid for in Naira.”
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