News
Our Decision Was Deliberate, NNPCL To Dangote Over Equity Stake
By Kayode Sanni-Arewa
The Nigerian National Petroleum Company Limited (NNPCL) has replied Aliko Dangote, over his statement that the NNPC’s equity in the Dangote over $20bn refinery is now 7.5 per cent as against 20 per cent being widely believed.
A statement by the company’s Chief Corporate Communications Officer, Femi Soneye, on Sunday, said its decision to reduce its investment in the refinery was well thought out.
It said, “Several months ago, we made a commercial decision to cap our investment at the amount already paid. This decision was taken by NNPC Ltd and has no impact on our business.”
“NNPC Limited periodically assesses its investment portfolio to ensure alignment with the company’s strategic goals,” said a spokesman for the company.
“The decision to cap its equity participation at the paid-up sum was made and communicated to Dangote Refinery several months ago,
Dangote had on Sunday, said NNPCL no longer owns a 20 per cent stake in the Dangote Petroleum Refinery.
Speaking during a press briefing at the refinery on Sunday, Dangote said NNPCL now owns 7.2 per cent of the refinery over failure to pay the balance of their share, which was due in June.
According to Aliko Dangote, NNPC’s stake dropped to 7.2 per cent over the company’s failure to pay the balance of its share, which was due in June. The 20 per cent interest in the $20bn Dangote refinery is valued at $2.76 billion.
“NNPC no longer owns a 20 per cent stake in the Dangote refinery. They were met to pay their balance in June, but have yet to fulfil the obligations. Now, they only own a 7.2% stake in the refinery,” Dangote said
Last December, Dangote commenced operations at his $20bn facility in Lagos with 350,000 barrels a day. The refinery hopes to achieve its full capacity of 650,000 barrels per day by the end of the year. The refinery has begun the supply of diesel and aviation fuel to marketers in the country while petrol supply is expected to commence in August.
The controversy comes as Nigerians have hoped the start of Premium Motor Spirit or petrol refining at the facility, would help Nigeria cut down on petrol importation, thereby reducing the local price of the product.
However, Dangote had expressed frustration about getting Nigerian crude for his facility. A Bloomberg report said the Lagos-based refinery bought about 24 million barrels of crude from the United States.
While responding to the importation of crude oil by Dangote, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, had in May, said the decision by the Lagos-based refinery to import US crude could be based on its business model.
However, Dangote disclosed on Sunday, that his refinery would roll out petrol from August 2024, having resolved its crude oil supply issues with the NNPCL and the Federal Government.
News
Igbos to boycott Arise TV over Abati’s uncouth statement
The Indigenous People of Biafra lawyer, Ifeanyi Ejiofor, has called on Ndigbo to boycott Arise TV until its anchor, Reuben Abati, tenders an unreserved apology.
The former Special Adviser on Media and Publicity to former President Goodluck Jonathan, Reuben Abati, recounted during a morning programme how a former minister could not buy land for his wife in Igbo land.
Abati’s statement that Ndigbo does not sell land to non-indigenes generated condemnation from the people of the South East region.
Most X users of Igbo extraction accused Abati of committing ethnic bigotry against the group.
In reaction on Friday, on his X handle, Ejiofor alleged that he had previously taken on the former presidential spokesman for his alleged anti-Igbo statement.
“When I confronted Abati frontally on a live television interview (TheMorningShow) a few years back about his deep-rooted hatred for Igbos and our struggle for freedom from enslavement within Nigeria’s political arrangement, I was fully seized of the disturbing facts of his ethnic bigotry. It is inborn in him; thank God he could not hide it any longer,” he narrated.
The IPOB lawyer demanded Arise TV’s owner, Nduka Obaigbena, mandate Abati to apologize to Ndigbo. He called on South East indigenes to boycott the station if Abati failed to tender a public apology.
“Reuben Abati must tender an unreserved public apology to Ndi Igbo, but if Nduka Obaigbena condones his anti-Igbo sentiment (Igbophobia), then, this should be a convenient point for Igbos to boycott, in its totality, the promoting of all programmes on Arise TV platforms,” Ejiofor stated.
News
Minimum Wage: Our deadline remains December 1 -NLC insists
The national leadership of the Nigeria Labour Congress (NLC) has insisted its December 1, 2024, deadline for state governors to implement the new minimum wage remains unshakeable.
The Labour Union who disclosed this in a statement issued by NLC’s Head of Protocol and Public Relations, Benson Upah warned that non-compliance with the directive will not be tolerated.
Ubah emphasized that the ultimatum remains unchanged, urging state governments to finalize agreements with labour unions before the deadline, noting that states like Sokoto, Zamfara, Taraba, and Plateau have taken significant steps to comply.
Explaining further, he stated that Sokoto has initiated wage adjustment proposals, while Taraba and Plateau recently approved an N70,000 minimum wage.
Similarly, Zamfara state has put in plans for implementation after verifying its workforce.
However, states such as Cross River, Osun, and Imo remain in negotiation or unresponsive.
This has raised concerns about meeting the deadline set by NLC.
The NLC and the Trade Union Congress (TUC) continue to monitor compliance across the nation, advocating for fair wages amidst rising inflation.
News
Indian man wakes up on funeral pyre
An Indian man awoke on a funeral pyre moments before it was to be set on fire after a doctor skipped a postmortem, medical officials said Saturday.
Rohitash Kumar, 25, who had speaking and hearing difficulties, had fallen sick and was taken to a hospital in Jhunjhunu in the western state of Rajasthan on Thursday.
Indian media reported he had had an epileptic seizure, and a doctor declared him dead on arrival at the hospital.
But instead of the required postmortem to ascertain the cause of death, doctors sent him to the mortuary, and then to be burned according to Hindu rites.
Singh, chief medical officer of the hospital, told AFP that a doctor had “prepared the postmortem report without actually doing the postmortem, and the body was then sent for cremation”.
Singh said that “shortly before the pyre was to be lit, Rohitash’s body started movements”, adding that “he was alive and was breathing”.
Kumar was rushed to hospital for a second time, but was confirmed dead on Friday during treatment.
Authorities have suspended the services of three doctors and the police have launched an investigation.
AFP
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