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September 9, 2024 NNPCL Denies Wanting to Monopolize Dangote Refinery Products
IFMUYONEWS

NNPCL Denies Wanting to Monopolize Dangote Refinery Products

The Nigerian National Petroleum Company Limited (NNPC Ltd) has said it has no intention to be the sole off-taker of petrol produced by the Dangote Refinery Limited, DRL.

NNPC Ltd said this while reacting to claim by the Muslim Rights Concern, MURIC that the Dangote Refinery Limited (DRL) is being undermined by actions of the NNPC Ltd.

MURIC had in a statement issued on Friday claimed that recent changes to the pump price of petrol will prevent the Dangote Refinery from selling the product at lower prices to Nigerians.

The group also claimed NNPC Ltd. has become the sole off-taker of all products from the refinery to the detriment of Nigerians.

However, OLUFEMI SONEYE, Chief Corporate Communications Officer, NNPC Ltd in a statement on Saturday dismissed the claims of MURIC.

While puncturing the claims of the group, NNPC LTD in the statement, noted that the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces.

September 9, 2024 SERAP Urges Federal Government to Beam It’s Searchlight on NNPCL
IFMUYONEWS

SERAP Urges Federal Government to Beam It’s Searchlight on NNPCL

the Socio-Economic Rights and Accountability Project (SERAP) has urged President BOLA TINUBU to direct the Nigerian National Petroleum Company Limited (NNPCL), to immediately reverse what it described as the illegal and unconstitutional increase in the pump price of premium motor spirit also known as petrol across its retail outlets.

In a statement by SERAP’s Deputy Director, KOLAWOLE OLUWADARE, it also urged President TINUBU to direct the Attorney General of the Federation and Minister of Justice, LATEEF FAGBEMI, SAN, as well as appropriate anti-corruption agencies, to probe the allegations of corruption and mismanagement in the NNPCL.

SERAP maintained that NNPCL should be probed on the spending of the reported 300 million dollars ‘bailout funds’ collected from the Federal Government in August 2024, and the 6 billion dollars debt it owes suppliers.

According to the statement, suspected perpetrators of alleged corruption and mismanagement in the NNPC should face prosecution as appropriate, and that any sufficient admissible evidence as well as proceeds of corruption should be fully recovered.

September 9, 2024 Oil Producing States in Nigeria Tasked to Look Inwards for Revenue Sources
IFMUYONEWS

Oil Producing States in Nigeria Tasked to Look Inwards for Revenue Sources

Oil producing states that are top receivers from the Federal Account Allocation Committee – FAAC, have been asked to look inward and improve on their Internally Generated Revenue for economic sustenance.

It might interest you to know that 90% of Akwa Ibom’s revenue comes from the FAAC, with less than 10% revenue, internally generated by the state.

The statistics were presented to stakeholders by BudgIT Foundation; A civic organization that encourages citizens’ engagement, during the week, at a focus Group discussion, which centered on Akwa Ibom’s readiness for Energy Transition.

With the increasing conversation on Energy Transition and how ready oil dependent societies are for a renewable energy dependent society, the stakeholders noted that it has become necessary for Akwa Ibom state, to be more intentional about economic diversification.

Speaking with Inspiration FM News, Head of Research and Advisory Unit at BudgiT, INIOBONG USEN specified the urgency at which the sub nationals must work, to mitigate the impact of Energy Transition in their states.

INIOBONG USEN also highlighted areas for diversification and income generation which the state needs to prioritize, to raise the percentage of its internally generated revenue from 9%.

The BUDGIT focused group discussion was held in collaboration with Policy Alert and Natural Resource Governance Institute ( NGIR). It featured stakeholders from the business sector, the civic space, and the media.

September 9, 2024 Governor Umo Eno Praise Work Rate at ARISE Park
IFMUYONEWS

Governor Umo Eno Praise Work Rate at ARISE Park

The Akwa Ibom State Governor, Pastor UMO ENO, has expressed delight at the progress of the ARISE Park project, describing it as an excellent interpretation of his dream to turn the previously dreaded ravine to a valuable asset for the State’s tourism industry.

Speaking during an unscheduled inspection of the project site on his return from the African Food Systems Conference, in Rwanda, Governor ENO expressed delight at the pace and quality of work at the site.

The Governor who commended the contractor for ensuring due diligence on the project expressed joy over the successful ravine reclamation, adding that the project would bring an end to loss of lives and homes of residents around the area.

Also, the Chairman of the ruling Peoples Democratic Party (PDP), in Akwa Ibom State, Elder ANIEKAN AKPAN, who accompanied the Governor on the inspection, lauded the ingenuity and foresight of Governor UMO ENO, describing him as a pride of the party.

Conveying the assurances of the contracting company, the Managing Director of Bulletin Construction Company, Mr. FAYSAL HARB, commended the political will and commitment of Governor UMO ENO to the execution of the project, stating that they will work hard to deliver the project in accordance with the Governor’s expectation come December 2024.

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