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Atiku demands NNPCL’s listing on stock market

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The 2023 Peoples Democratic Party presidential candidate, Atiku Abubakar, has called on President Bola Tinubu’s administration to promptly list the Nigerian National Petroleum Corporation Limited on the Nigeria Stock Exchange.

The former Vice President declared that this move aligns with the stipulations set forth by the Petroleum Industry Act.

Atiku’s demand follows the recent decision by NNPCL to transfer the management and operation of the Warri and Kaduna refineries to private operators.

In a statement issued by his media adviser, Paul Ibe, on Sunday, Atiku emphasized that NNPCL should be listed on the stock exchange as required by the Petroleum Industry Act.

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“Currently, the NNPCL claims to be private, but this is only a ruse to fool the feeble-minded because it remains the ATM of the Federal Government. Anything short of listing the NNPCL on the stock exchange is nothing but a cosmetic development,” he added.

He explained that this move would improve profitability, transparency, and corporate governance.

The statement read in part, “The Peoples Democratic Party (PDP) Presidential candidate said previous arrangements and concessions had not worked because of a lack of transparency in the contract award process as well as the failure of the government to attract investors.

“The former Vice President said that for such a deal to succeed at all, the Bureau of Public Enterprise (BPE) and a credible technical partner like Standard and Poor’s must be part of the process.

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“Former President Olusegun Obasanjo revealed recently that even Shell, one of the world’s wealthiest oil companies, rejected the offer to operate Nigeria’s refineries. This is because the NNPCL has, for years, been a cesspool of endemic corruption.

“This is why over $20bn that has been spent on the refineries in the last 20 years has led to nowhere. It is also curious that a government that is still paying petrol subsidies is trying to make its refineries profitable. Which businessman will invest in a refinery that has been programmed to operate at a loss?”

Atiku questioned the viability of the NNPC’s new plan, noting that similar arrangements in the past had not been successful or profitable.

The Waziri Adamawa urged NNPCL to avoid making the contract process opaque as it did with OVH last year, which proved dubious and did not resolve the ongoing fuel scarcity.

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He continued, “The management and operating approach has not always worked. The Manitoba Hydro International, which was handed to the Transmission Company of Nigeria, led to nowhere. Similarly, Global Steel Limited, which was handed to the Ajaokuta Steel Company, was not able to make the facility profitable.

“The contract was questionably revoked by the Umaru Musa Yar’Adua administration, and Nigeria ended up paying Global Steel a compensation of nearly $500m while Ajaokuta remains comatose 17 years later.

“In 2022, Nueoil, an unknown and newly registered company, acquired OVH and Oando filling stations. Barely four months later, NNPCL Retail bought Nueoil and took control of all its assets, including the Oando filling stations.

“Barely eight months later, OVH turned around to take over NNPCL Retail. This convoluted transaction was done in order to hide the corruption involved. If this is the approach that the NNPCL wants to use in handing over its refineries to private hands, then Nigerians should not expect any positive development whatsoever.”

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Rivers lawmaker tells Fubara to remain on his lane over invitation 

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A member of the Rivers State House of Assembly, Lolo Isaiah Opuende, has poopoohed an invitation from Governor Siminialayi Fubara for a crucial meeting at Government House, Port Harcourt.

In a trending video, Opuende stated that it was time for the governor to “dey his dey” (be on his own) while the lawmakers would do the same.

Representing Akuku-Toru Constituency 2, Opuende recalled that when the political crisis began, their principal had warned that a time would come for both sides to go their separate ways. 

He also questioned the mode of invitation transmission, arguing that it was not feasible for lawmakers to honor the governor’s request.

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“How can you write a letter for the House of Assembly and put it on social media and expect us to come. The governor should write us the proper way”, he said.

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We’re fully behind you come rain come sunshine – Kogi youths tell Sen. Natasha

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Youths in Kogi State on Sunday described the suspension of the Senator representing Kogi Central, Chief Natasha Akpoti-Uduaghan as crude and peremptory.

‘’The 10th Senate is heading in the wrong direction’’

They also reminded the Senate President, Senator Godswill Akpabio of the dignity of his office.

In a statement to the press, the youths asked supporters of the Senate President not to drag down the reputation of the country.

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They applauded Akpoti-Uduaghan for refusing to do things which galled her sense of decency, marital status and political height.

The statement issued by the Chairman of Kogi Central Youth Movement, Alhaji Mustapha Jato in Abuja tasked President Bola Tinubu on gender reforms in Nigeria.

It praised Akpoti-Uduaghan for touching and galvanizing the good people of Nigeria, especially Kogi Central.

‘’Senator Natasha Akpoti-Uduaghan is a woman of charm and faith. She is also a hardworking, energetic woman and well respected by the people because of her genuine interest in their progress’’

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The youths spoke well of Akpoti-Uduaghan’s initiative, thoroughness and seriousness of purpose.

They scolded a former aide to Dr Goodluck Jonathan, Mr. Reno Omokri and his co-travelers for deviating from the truth.

‘’Senator Natasha Akpoti-Uduaghan is an upright woman’’

The youths said those behind the campaign of calumny against Senator Natasha Akpoti-Uduaghan were lily-livered politicians out to cause disaffection in the country.

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They lauded decent Nigerians for supporting Akpoti-Uduaghan and speaking out against an absurd action.

The youths urged political office holders in the country to maintain certain standards of behavior, character and morality.

They advised hired hoodlums, sly and shifty individuals not to mislead Akpabio about the troubling feud with Akpoti-Uduaghan.

The statement emphasized truth, justice, poise and endurance.

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It also denounced philandering, trivialization of allegations, back-biting and breaking of ranks.

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Tinubu’s policies gravitating millions into abject poverty- Catholic Bishops raise alarm

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The Catholic Bishops Conference of Nigeria (CBCN) has expressed worry over the persisting hardship and insecurity across the country, saying the future of the nation remained bleak despite some recorded progress.

Worried by the state of affairs of the nation, CBCN cautioned against abuse of human rights, perpetration of injustice and corruption, stressing that leaders who loot public coffers should be mindful of the dangers of provoking the populace to effect change through violent uprising.

Speaking at the opening plenary of the first meeting of the CBCN in 2025, President of the Conference and Archbishop of the Owerri Archdiocese, Most Rev. Lucius Iwejuru Ugorji, expressed worry that the country has continued to face various challenges.

According to him, these include harsh socio-economic situations, heightening insecurity, rising youth unemployment and the deplorable state of federal correctional centres.

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He said: “While the economic reforms introduced by President Bola Tinubu’s administration aims at stabilising the economy in the long term, they have significantly triggered sky-rocketing inflation, drastically reduced the purchasing power of Nigerians, and plunged millions into poverty.

“The World Bank projects that 129 million Nigerians now live below the poverty line. The 2024 Global Report on Food Crisis lists Nigeria as the second globally in terms of acute food insecurity, with 24 million people categorised as food insecure”.

On insecurity, he said that more and more communities are being terrorised, traumatised, displaced, impoverished and their ancestral homes taken over by their conquerors.

Ugorji said the bishops are concerned that the government has not fully deployed technology to complement the efforts of security agents in tackling crime in the country.

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Ugorji who led the audience to observe a minute silence in honour of priests and other Nigerians who lost their lives in the hands of terrorists and kidnappers said: ” Gruesome tales are told of the kidnapping and cruel slaughtering of Nigerians for harvesting human parts for sale or rituals undertaken by criminal gangs.

“Enough of this senseless brutality! Enough of this barbarism! This carnage must stop! While we appreciate the efforts of the security operatives, who put their lives on the line to fight the criminals and put an end to their savagery, we wonder why the government has not deployed high technology to complement the efforts of security operatives”.

Ugorji also spoke of rising youth unemployment, adding that where youths constitute 70 per cent of the population, youth unemployment in the country has remained a major concern.

As the country grapples with multifaceted challenges, the president of the Bishops Conference urged Nigerians not to give up the struggle for good governance based on free, fair and transparent elections.

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He lamented the level of injustice and inhumane treatment being meted out to persons under extended custody without court hearing, saying that such actions amounted to violation of fundamental rights of the affected individuals.

Ugorji drew attention to the situation in Nigeria’s federal correctional centres which he described as deplorable.
Apart from the inhumane condition of the correctional facilities, the Bishop said that the manner in which suspects are thrown into the detention centres without trial, undermine the judicial process and perpetuate injustice.

“To reverse this sad trend, there is a need to uphold fundamental rights. We should tirelessly insist on good governance that is rooted in free, fair and credible general elections. We should continue to empower our people through civic education and the church’s social teaching.

“Furthermore, we should continue to appeal to corrupt leaders, who loot public coffers to be mindful of the dangers of provoking the populace to effect change through violent uprising. They should learn from the history of revolutions,” he said.

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In acknowledging that some measure of progress had been recorded by the present administration, the CBCN president said there have been rehabilitation of some dilapidated roads and the construction of new ones across the nation.

He also highlighted the introduction of the student loan scheme, the new minimum wage, and the reduction in revenue to debt servicing from 97 per cent to 68 per cent.

“We have also learnt of some of the positive effects of the economic and fiscal reforms embarked upon by the government.  Despite all these, the state of the nation remains bleak, as dark clouds of uncertainty and despondency continue to gather,” he said.

Earlier in his homily at the opening mass celebrated at the St. Gabriel’s Paris, Catholic Secretariat of Nigeria in Abuja, the Host-Catholic Archbishop of Abuja, Most Rev. Ignatius Kaigama said that no matter how difficult the country’s present circumstances may be, God’s saving power can lead Nigeria to a future filled with hope and abundance.

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In a goodwill message, President of the Christian Association of Nigeria (CAN) Archbishop, Daniel Okoh expressed hope that with the interventions of good spirited persons and bodies like the Catholic Church, Nigeria will rediscover itself and chart a new course for society.

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