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Again, NNPCL Postpones Port-Harcourt Refinery Kick-Off For Sixth Time

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The Nigerian National Petroleum Corporation Limited (NNPCL) in Port Harcourt, Rivers State, has again failed to commence operations after about six postponements.

 

The refinery was originally scheduled for completion in 2019.
The refurbishment and upgrade of the Port Harcourt Refinery, located in Nigeria’s oil-rich Niger Delta region, have faced significant setbacks over the years.

Political wrangling, funding challenges and technical difficulties have plagued the project, which is seen as crucial for Nigeria’s energy independence and economic stability.

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The Nigerian National Petroleum Company Limited (NNPCL) had in July reaffirmed its preparedness to commence crude oil refining at the Port Harcourt refinery in early August.

This was revealed by the NNPCL Group Chief Executive Officer, Mele Kyari, while addressing an emergency session at the National Assembly joint committee on finance.

Kyari explained that the Port Harcourt refinery would kick off production by early August this year, while that of Kaduna would commence by December 2024.
Kyari, who had earlier announced two weeks from March 2024 as the kick-off date for production from the Port Harcourt refinery, maintained that “he was not lying” as he reaffirmed the new August date.

However, promises made to Nigerians by the Federal Ministry of Petroleum Resources and NNPC about the refinery have continued to witness multiple failures.

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As August nears midpoint, the refinery has yet to commence operations, creating concerns that this might be another failed promise from NNPC.

The NNPC spokesperson, Olufemi Soneye, on Tuesday told PUNCH that the refinery was on course, even when the early August promise had expired.

“We are on course,” Soneye, said.
According to the report, Soneye did not reply to further questions, asking if he meant the refinery would still operate this month.

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ALERT! Terrorists planning attacks on worship centres, schools, NYSC camps – Police issue alert

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The Nigerian Police Force High Command has placed formations nationwide on red alert over alleged planned terror attacks on worship centres, schools, National Youth Service Corps, NYSC, orientation camps and other public places across the country.

According to Premium Times, the police also revealed that intelligence had shown the movement of armed elements from Katsina through Kaduna towards Plateau State.

The development followed fresh intelligence indicating increased mobilisation of terrorist elements for possible coordinated attacks on places of worship, learning institutions, NYSC orientation camps and other vulnerable targets across the country.

The findings showed that following the intelligence report, the high command has issued an operational order to its formations nationwide on the need to put the criminal elements in check before they will strike.

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Gov. Soludo reveals Obi, Obiano accumulated debts still hanging on Anambra

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The Anambra State Government has said it is still servicing loans inherited from the administrations of former governors Peter Obi and Willie Obiano, even as it maintains that Governor Chukwuma Soludo has not borrowed from any commercial bank since assuming office.

The Commissioner for Finance, Izuchukwu Okafor, said the state’s debt burden had fallen by more than 83 per cent under Soludo, with the administration also clearing several inherited domestic obligations.

Okafor disclosed this during a Ndi Anambra podcast uploaded by Anambra State New Media on Monday while explaining the state’s finances and debt position.

He said repayments on loans secured by previous administrations continued to be deducted from Anambra’s allocation through the Federation Account Allocation Committee, including obligations dating back to the Obi and Obiano administrations.

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“Yes, every month during our FAC meetings, and when you see the schedule of FAC, you will notice there were substantial, significant deductions from our own FAC because of loans previously borrowed by previous administrations,” Okafor said.

“These loans were borrowed, you know, during the time of, even, not the immediate predecessor, even during the time of Peter Obi and Willie Obiano, His Excellency, the past governors,” he said.

According to the commissioner, the Soludo administration had focused on managing the inherited obligations while avoiding new commercial borrowing.

“It’s on record, you know, that this administration has not borrowed a kobo from any commercial bank since the inception of this administration,” he said.

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Okafor said the government had also settled a number of legacy liabilities, including unpaid contracts, gratuity and pension arrears, bringing the state’s domestic debt close to zero.

“But I will give you an example for our domestic debt, the control, the legacy, what we call legacy debts, you know, the contracts that were not paid, not owing, the gratuity arrears, pension arrears, we’ve been able to clear all that,” he said.

He added, “In terms of, so, our domestic debt as of today is near-zero balance.”

The commissioner attributed the reduction in the overall debt burden to repayments made by the administration, saying several inherited loans had already been settled.

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“But I will also say that Mr Governor has not borrowed a penny. We have been able to manage the debt, the state debt, very well, that we have brought it down by more than 83 per cent as of today. I’ve been able to repay back most of these loans,” he said.

External obligations, however, remain part of the state’s financial commitments. Okafor explained that repayments on some foreign-denominated loans are deducted from the state’s federal allocation under the terms attached to the facilities.

“But following as well, external debts, which is foreign loan-denominated debts, when you look at it, because there are some covenants around the period it will take to pay off these loans, particularly deducted as such when we are doing FAC,” he said.

“Before they limit Anambra’s own allocation, they will deduct it as such, because most of them, World Bank loans and other loans, they committed.”

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Okafor also disclosed that the state had recently fully repaid one of its debts.

“There is one debt that we recently paid off, CAGS,” he said.

He said the reduction in inherited liabilities had given the government more room to finance other priorities.

“So, in a nutshell, I’ve been able to, you know, create more fiscal space for Anambra State,” Okafor said.

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He added, “This administration has been able to create more by paying off, you know, backlog of numerous debts inherited from previous governments, starting from the time of Peter Obi.”

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Sad: Nine passengers killed as gunmen open fire on bus in Plateau

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No fewer than nine passengers were killed when gunmen opened fire on a commercial bus at Dungus Junction in Kuru community, Jos South Local Government Area of Plateau State.

Residents told journalists that the incident occurred when the bus driver parked to allow some passengers alight at the junction.

According to Daily Trust the bus which was heading to Jos was stained with blood and riddled with bullets.

Lawan Suleiman, a neighbor and teacher of one of the victims, confirmed the incident, adding that the attack occurred while the bus was stopped at the junction.

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He said, “The driver is Ibrahim and he was my student. Three of them are from our community here in Bukuru. Their bodies have been deposited at the hospital. But relatives are preparing to collect them for burial.”

Spokesman of the Berom Youth Moulders, BYM, Rwang Tengwong, also confirmed the incident saying the victims were passengers travelling to Jos when the attackers opened fire on their vehicle.

“The incident happened around 9.40p.m. The victims were all passengers travelling to Jos when the terrorists opened fire on the vehicle. Among those killed was a member of Operation Rainbow. It is a very sad development and we lament the loss of lives.”

According to him, some of the passengers sustained gunshot wounds and were rushed to hospitals, where some later died.

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Plateau state police command is yet to issue a statement regarding the incident as of press. (Daily Trust)

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