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NNPCL, Others Give Nigeria Economy Clean Bill of Health, Say PH, Kaduna Refineries Begin Production August, December

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The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has declared that the Port Harcourt refinery will begin to deliver refined petroleum products in August while that of Kaduna and Warri will commence by December, just as he insisted that they were not lying to the nation.

Kyari, who spoke on Monday, in Abuja when he appeared before Senator Sani Musa, APC, Niger East led National Assembly joint Senate and House of Representatives Committee on Finance during an emergency session on the state of the economy, assured that by the end of the year, Nigeria will be a net exporter of petroleum products.

Recall that Mele Kyari had said in March this year shortly after meeting with the Senate Ad-hoc Committee on Turnaround Maintenance of the country’s four refineries that the Port Harcourt refinery will begin to deliver refined petroleum products in two weeks. He had disclosed then that the rehabilitation of the refinery had been completed, having passed its “completion mechanical” procedure.

The NNPCL Chief Executive Officer opened up yesterday when the Senator said, “Thank you, Group CEO. We have not reached the questions and answers session. For the benefit of the press that is here, I know that they are very keen to know if we will start our domestic production from our refineries that have been refurbished. So if you can just give a word on that, then we now excuse the press so that we can go on to the closed session.”

Kyari said, “Yes, I’m aware that there are several comments in the public space around refining business and domestic production, including production that will come from the commissioned Dangote refinery. Yes, this country, as we have said, will be a net exporter of petroleum products by the end of this year.

“We are very optimistic that by December this country will be a net exporter. That means a combination of production coming from us, and also from the Dangote refinery and other smaller producing companies that we know are in line to do this.

“So I can confirm to you, Mr. Chairman, that by the end of the year, this country will be a net exporter of petroleum products.

“And specific to the NNPC refinery. As you recall, and we have spoken to a number of your committees, it is impossible to have the Kaduna refinery come into operation before December, it will get to December. Both Warri and Kaduna.

“Let me explain this very clearly. We did have mechanical completion of the Porth Harcourt refinery, which means that every technical work that is required to get the refinery to work has been completed. This is what we announced December last year, if you recall.

“Once you are mechanically completed for an existing refinery, even for new ones, there are several technical steps that you have to take when you are introducing hydrocarbon into this plant. It is only then that you will see the real challenges of even a new refinery. And I can confirm to you today that we have gone through this.

“We are already introducing hydrocarbon under a hot situation, that’s what we call it. And I’m very sure that latest by early August, the Port harcourt refinery will start producing products.

“And of course, the new one will get to December. And Warri will also be in production. I’m very optimistic. I don’t have any confirmation at this moment, so that nobody quotes me and says, oh, you keep lying. No, we’re not lying to you, Mr. President. This is a technical process.

“We do our best of intention. You can put debts on a refinery start-up, but it is when you get to start-up that you see the real challenges, even for a new refinery. As you can see, even a new, porthacouurtģ refinery, it really has to take steps and processes to get it to full operationality.

“This is very normal in a refinery operation. So we don’t put hard debts on it because there are things that you are never in control. Otherwise, I can confirm to you that we are taking every step to make sure that it works.”

In their remarks, the Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso who was represented by his Deputy, Economic Policy Directorate, Muhammad Sani Abdullahi, the Minister of Budget and Economic Planning, Senator Atiku Bagudu all agreed that with the ailing economy situation, Nigeria is emerging stronger.

The CBN particularly said that Nigeria was emerging stronger from her economic malaise.

In his remarks, Chairman of the Committee, Senator Musa, who urged Nigerians to persevere, said that the indicators are showing that the economy was doing well.

Senator Musa said, “at least we heard from the Honorable Ministers that are here. We also heard from the group CEO and the representative of the government of the central bank. And all that we have all heard, we are all on the same path.

“It is about economic growth. It’s about how we can get our policies to work. How we will support Nigerians.

“The National Assembly is very concerned because we are the representatives of the people. And we are obliged to ask what is happening. And this is the reason (why) such a meeting is very important.

“And we have heard from them. At least they have given us a preamble of the activities going on. On how our economy can get back on track.

“You are all aware of the obstructions our economy has had in the previous years. And it’s not going to be easy that overnight, in 365 days or in one year of the coming administration, things will change. It will be gradual.

“And I believe that Nigerians will persevere. This is the only time we can all come together as Nigerians to give His Excellency the President all the needed support. To get us out of all the trouble we have been.

“And you can see the indicators are showing that the economy is doing well. The only thing is that things are a bit difficult because it’s not easy for inflation that has gone up to go down like that. It takes time.

“There are some indices, there are some indicators that have to work together. It’s not like having positive and negative cables. When you put the two together, you will achieve what you want to achieve.

“But when you say, okay, everything should go negative, it will not work. So we have had negativities in the economy. And now we are trying to bring the positivities to work.”

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2027: Only Credible Poll Can Prevent Conflict in Nigeria, David Mark Warns

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The National Chairman of African Democratic Congress (ADC), Senator David Mark, has warned that only a transparent and credible election in 2027 can prevent conflict in Nigeria.

Mark stated this on Thursday in Abuja when he received a delegation from the Economic Community of West African States (ECOWAS) on a pre-election fact-finding mission ahead of the 2027 general elections.

The Head of Mission and former Vice-President of Sierra Leone, Victor Bockarie Foe, said the mission was intended to assess the level of preparedness for the elections and the political atmosphere ahead of the polls.

While briefing the delegation, the ADC leadership expressed concerns over the Independent National Electoral Commission’s (INEC) level of preparedness and commitment to delivering free and fair elections.

The party also alleged that the government has “captured” State institutions, including the judiciary and INEC, and raised concerns about threats of violence.

In his remarks, Mark said elections in Nigeria are critical to the stability of the West African region and would attract global attention.

“This is why we must all work together to ensure we get it right. You have made us understand that your mission is pursuant to the ECOWAS Conflict Prevention Framework. We are quite happy with this. But the best way to prevent conflict, especially in relation to elections, is to ensure that they are free, fair and transparent,” he said.

He said the ADC is committed to the peaceful conduct of elections before, during and after the polls but needs ECOWAS to insist on credible elections.

“We want the same thing—a peaceful and stable Nigeria and West Africa. This is why you must tell the Federal Government and INEC that they must not do anything that could plunge Nigeria into a needless crisis. This must form part of your early warning signals,” he said.

The Head of Mission, Bockarie Foe, promised to report the party’s concerns, as well as those of other stakeholders, to the regional body, while emphasising the importance of peace and stability in Nigeria to the entire region.

Other members of the ECOWAS mission included Francess Piage Alghali, Commissioner for Political Affairs, Peace and Security; Julius Fofanah Sandy, representing the ECOWAS Permanent Representatives’ Committee; and Segrine Mamadou, Head of the Electoral Assistance Division.

The statement was signed by the ADC National Publicity Secretary, Bolaji Abdullahi.

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Tinubu Leaves Abuja Thursday for Lesser Hajj in Saudi Arabia

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President Bola Tinubu is scheduled to depart Abuja on Thursday for Makkah, Saudi Arabia, to perform Umrah and pray for Nigeria’s peace, unity, stability and progress.

According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, the visit will provide Tinubu an opportunity for spiritual reflection, devotion and prayers for the country.

While in Makkah, the President will perform the religious rites associated with Umrah, an Islamic spiritual exercise involving a pilgrimage to the holy city, and seek Allah’s guidance and blessings for Nigeria and its people.

Before departing Abuja, Tinubu will commission equipment acquired by the Nigerian Air Force for its operations at the Presidential Wing of the Nnamdi Azikiwe International Airport.

The President is expected to return to Nigeria next week after completing the spiritual exercise.

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Atiku Vindicated As Tinubu Seeks Another $20.52bn, €1.045bn Loan

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Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has said President Bola Tinubu’s request for approval to borrow $20.52 billion and €1.045 billion vindicates his October 12 warning about a loan plan of up to $20 billion.

Atiku said the President’s failure to identify the specific projects the loans would fund raises serious concerns that borrowed public money could be channelled through the Lagos–Calabar Coastal Highway, now rerouted inland, to political campaigners and favoured contractors.

In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku said:

“On October 12, I warned Nigerians that President Tinubu was reportedly preparing to borrow up to $20 billion in connection with the Lagos–Calabar Coastal Highway. I asked him to confirm or deny the plan and publish the accounts. He did neither. Today, he has asked the Senate to approve $20.52 billion and €1.045 billion in external loans. My warning has been vindicated.

“The President has listed broad sectors but has not provided a project by project account of what this enormous borrowing will fund. Nigerians have not been given clear project details, costs, locations or contractors to scrutinise.

“That silence is especially troubling given the highway’s inland rerouting. Nigerians have every right to ask whether it is becoming a pipeline for borrowed money to reach Tinubu’s campaigners and favoured contractors. Barely 12 weeks before an election, how can the President ask lawmakers to saddle Nigerians with more than $20 billion and €1 billion in debt without identifying the projects and their costs? Is this a development plan for Nigerians or a campaign financing scheme dressed up as infrastructure?

“You cannot continue taking frivolous loans on the eve of your departure from office. Let it be on record that one of the first responsibilities I will undertake as President is to scrutinise and investigate every kobo borrowed, especially loans taken in the final year of your tenure. Nigerians will ask questions, and we will find the answers by every lawful means.

“I put local and international lenders on notice: any loan granted to this winding down administration must meet all constitutional, statutory and due process requirements. Upon assumption of office, I will scrutinise every such loan. Any borrowing found to have been obtained without proper authorisation or process will be challenged and will not be allowed to stand.

“The National Assembly must not approve a single dollar until the President publishes every project, contract, cost, contractor, loan term and repayment obligation. No public money should be borrowed in the dark, and no lawmaker should sign a blank cheque against Nigeria’s future.”

Atiku said the burden was on Tinubu to prove that the borrowing would serve the country, not his political interests. He urged lawmakers to publish the proposal and supporting documents and subject them to rigorous scrutiny before any decision.

He added that families already struggling with a cost of living crisis should not be made to carry debts they did not approve. The woman fighting to keep her business alive and the worker spending their income just to feed deserve to know where the money is going, who will benefit and who will pay. At the ballot box, Nigerians will have the chance to reject a government that borrows against their future while taking their sacrifices for granted.

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