News
Controversy As Nigerian Petrol Company, NNPCL 2022 Audited Report Shows It Paid 20% Shares In Dangote Refinery
The Nigerian National Petroleum Corporation Limited (NNPCL) Audited Report for 2022 has shown it paid for 20% shares in the Dangote Refinery.
The revelation came despite Dangote’s denial that the what the corporation paid was only 7.2%.
A report by Afrisagacity shared on X handle analysed that under President Muhammadu Buhari’s regime, the NNPC committed to invest $2.7bn and buy 20% shares in the Dangote Refinery.
According to the report, in January, the NNPC, after intense pressure, released its Audited Financial Report for 2022. In the report, they stated that they purchased 20% shares in the Dangote Refinery for $2.7billion.
They claimed to have obtained $1.036 billion (as part of the funding) from Lekki Refinery Funding Limited. $1 billion was paid to Dangote Refinery – which is about 37% of $2.7 billion they claimed to have invested.
Of course, the remaining amount of $36 million was for just transaction costs.
Tinubu took over from Buhari and, in December, he set up a new NNPC Board, where he made his longtime friend and ally, Pius Akinyelure the NNPC Board Chairman and reappointed Malam Mele Kyari as NNPC Group CEO.
In a sudden turn, the NNPC that had committed to buy 20% shares, backed down. Dangote had given them an extension period (till June) to complete the $2.7 billion for the shares. But they couldn’t.
Meanwhile, the public still believed that they had a 20% shares in the Dangote Refinery – not until Sunday, when Dangote himself, revealed that the NNPC had invested only 7.2%.
Shortly after Dangote broke the news, the NNPC rushed to react. In its defence, it said “NNPC Limited periodically assesses its investment portfolio to ensure alignment with the company’s strategic goals.”
“One, what exactly are the NNPC “strategic goals?” They say it’s “to ensure access to affordable, reliable, sustainable and modern energy for all”.
“How and when did the NNPC 20% equity investment in the Dangote Refinery go against its “strategic goals” as highlighted above?
“Two, in its statement, the NNPC validated what Dangote said that they invested only 7% of the $2.7 billion they initially committed to pay.
“This sharply contrasts and invalidates their claim of paying $1 billion to Dangote Refinery (for the shares) in 2022 – which is about 37%.
“So, if the NNPC confirmed that they had paid $1 billion to Dangote Refinery – which is about 37% – how did they come about the 7%?
“Also, where is the balance? Did Dangote Refinery refund it?
“Three, why exactly did the NNPC back down on their initial commitment of investing 20% on the Dangote Refinery shares?
“Is it truly true that they realigned their “investment portfolio, according to their strategic goals” or is it a grand plan that’s wrapped in a scam deal?” the report queried.
News
President Tinubu Leaves Brazil After G20 Summit
President Bola Tinubu has departed Galeao Air force Basa (SBGL) Airport, Rio de Janeiro, Brazil, on Saturday, for Abuja after attending the 19th G20 Leaders Summit in Rio de Janeiro, Brazil.
The President is due to arrive at the Presidential Wing of Nnamdi Azikiwe International Airport, Abuja, at 10.00 p.m. (Nigerian time).
President Tinubu had attended the G20 Leaders summit where he endorsed the global alliance against hunger and poverty, which he said was pivotal.
The President also held bilateral talks with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), who commended his administration’s economic reforms and their positive indicators.
He also presided over the signing of a 2.5 billion dollar Letter of Intent between the Nigerian government and the JBS S.A., a Brazilian company and one of the top three largest meat processing companies in the World.
The president was accompanied in the trip by senior government officials including the minister of foreign affairs yusuf Tuggar, the national security adviser, Nuhu RIBADU and many others.
News
HoR to lead historic march, other Key initiatives against gender-based violence
In commemoration of this year’s International Day for the Elimination of Violence Against Women, the House of Representatives will lead a landmark march on Monday, November 25, 2024, along with other strategic activities as part of its unwavering commitment to eradicating gender-based violence (GBV) in Nigeria.
This was contained in a statement issued by the HoR spokesperson, Rotimi Akin, Jr on Saturday.
According to him the march, which starts at 8:00 AM, will bring together over 1,000 participants – including Representatives and members of the public – on a symbolic walk from the National Assembly to the Headquarters of the Nigeria Police Force.
This demonstration of solidarity will culminate in the submission of a petition to the Inspector General of Police, demanding decisive action to safeguard vulnerable populations and ensure accountability for perpetrators of GBV.
“This march and the associated activities are not just symbolic gestures, they reflect our resolve and call to action against gender-based violence head-on,” said Hon. Abbas Tajudeen,, Speaker of the House of Representatives.
“We stand united in the fight to protect the rights and dignity of all Nigerians, especially the most vulnerable. Together, through collective action and legislative reforms, we can build a society where safety, justice, and equality prevail.”
Beyond the march, the 10th House of Representatives in alignment with its Legislative Agenda (2023 – 2027) has outlined *key activities to sustain awareness and action throughout the 16 Days of Activism:*
1. *Sash Demonstration Ceremony* – Tuesday, November 26, 2024
Members of the House will don orange sashes, symbolising solidarity with the fight against GBV, during plenary sessions throughout the campaign period.
2. *Convergence of State Assembly Speakers* – Monday, December 9, 2024
A strategic meeting at the Transcorp Hilton, Abuja, will bring together Speakers of State Houses of Assembly to discuss legislative strategies for combating GBV nationwide.
3. *National Citizens’ Summit and GBV Conference 2024 -* Tuesday, December 10, 2024
This summit will conclude the 16 Days of Activism with discussions on constitutional reforms and securing endorsements for gender equality initiatives championed by the House.
The House of Representatives invites all Nigerians to *participate in this historic march on Monday, November 25, 2024.* Participants will receive orange T-shirts—the official colour of the United Nations campaign to end violence against women—symbolising hope for a future free of violence.
*Details of the March:*
• *Date:* Monday, November 25, 2024
• *Time:* 8:00 AM
• *Starting Point:* Speaker’s Car Park, National Assembly
• *End Point:* Nigeria Police Force (NPF) Headquarters
Gender-based violence continues to devastate families and communities across Nigeria. The 10th House of Representatives however, remains steadfast in driving systemic reforms, fostering collaboration, and championing accountability to address this pervasive issue.
Together, let us take a decisive stand for justice, equality, and the protection of human rights, paving the way for a safer, more equitable Nigeria.
News
Police rescue abducted Emirates Airlines Airport Services Manager
The Ghana Police Service has announced that Sylvia Patience Baah, the Airport Services Manager of Emirate Airlines in Accra, who was kidnapped has been rescued.
The Police said the victim is currently reunited with her family.
“The Ghana Police Service would like to state that the victim of the alleged kidnapping, Sylvia Patience Baah, the Airport Services Manager of Emirate, Airlines in Accra, has been rescued and reunited with her family.” The Police said in a statement.
According to the Police, a team of Police medical officers and clinical psychologists have been assigned to assist the family to ensure that everything is in a perfect condition and assured the family and the general public that the suspect will be arrested and face the law
“Meanwhile, the Inspector-General of Police (IGP) Dr. George Akuffo Dampare, has spoken to the victim and her family and they are in good spirits. A team of Police medical officers and clinical psychologists have been assigned to assist the family during this critical time.” Part of the statement read.
Transparent, Rewarding!
The victim was allegedly kidnapped by an unknown men on Thursday ,November 21, 2024 night.
Below is the full statement:
KIDNAPPED VICTIM, SYLVIA PATIENCE BAAH RESCUED
The Ghana Police Service would like to state that the victim of the alleged kidnapping, Sylvia Patience Baah, the Airport Services Manager of Emirate Airlines in Accra, has been rescued and reunited with her family.
The Police are currently continuing the search for the suspects behind this incident and we want to assure the public that we will surely bring them to face justice.
We would like to take the opportunity to thank all those who gave us pieces of information in the course of our rescue operations in particular and the public in general for their support and cooperation.
Meanwhile, the Inspector-General of Police (IGP) Dr. George Akuffo Dampare, has spoken to the victim and her family and they are in good spirits. A team of Police medical officers and clinical psychologists have been assigned to assist the family during this critical time.
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