Day: August 20, 2024

The Rector of the Kwara Polytechnic, Dr Abdul Jimoh-Muhammed, has called on tertiary institutions in the country to invest in commercial farming on their campuses.

Jimoh-Muhammed, who made the call in Ilorin on Saturday in an interview with the News Agency of Nigeria (NAN), said tertiary institutions should prioritise food production and not restrict themselves to academic research alone.

The News Agency of Nigeria (NAN) reports that the Kwara polytechnic recently harvested 25 tonnes of maize from its farm, which the rector said was part of ensuring food security in the country.

Jimoh-Muhammed said that the farming was part of his resolve to enshrine the culture of ‘growing what you eat and eating what you grow’ for economic benefits of the nation.

He disclosed that the polytechnic has commenced harvesting of maize and other produce on their commercial farm.

He said that the polytechnic have spent almost N13 million on maize and cassava plantation in their first farming season.

‘We spent about N10m for
clearing of the land and another N3m was used in purchase of the seedlings and cassava stems.

‘We have been experiencing encroachment on the polytechnic land and we put our heads together to utilise the vacant land to practice commercial farming.

‘ That is the reason I am urging other institutions to utilise their land and not just leave it for decoration. Farm on it and produce food for the public,’ he said.

The rector assured that the farm produce would be reinvested to the farm as well as to increase Internally Generated Revenue for the polytechnic.

He said part of the produce would be used by the Department of Food Science Technology to bring out other value additions attached to maize, cassava and other produce of the farm.

He said that the polytechnic involved the students to practice on the farm as a way of practical training.

He said students of the Department of Agricultural Technology, Students of Agric Engineering and Bio Environmental Engineering were instrumental to the success of the farmi
ng.

He said the School Management and the Committee on Agricultural Purposes are planning to cultivate another 20 hectares of land next season as they plan to practice soya beans among other crops.

Muhammed also said the institution would practice animal husbandry and poultry farm in the near future.

‘We want to practice irrigation farming system. We need a source of water which is lacking in our area. We want government to support us in this aspect,’ he said.

He also seek for a multi purpose engine power seed planter, fertiliser broadcaster, and weeding machine to ease farming practice on the campus.

On security, the Rector said the security personnel of the Polythecnic collaborated with other security agencies to ensure safety on the farm at all times.

The Director of Institute of Technology, Mrs Ruth Bayeri, identified the relocation of the encroachers on the land as major challenge, which was later resolved with dialogue.

Bayeri, who doubles as Chairman of the farming committee, said the clearing s
tarted in February while the actual planting started in April.

She described the initiative as a profiting one which would be continuous, adding that Soya beans planting would commence after the raining season.

Source: News Agency of Nigeria

The Arewa Concerned Citizens Forum (ACCF), has called for the establishment of the Nigerian Military Endowment Fund.

The forum, in a statement signed by its co-founders, Alhaji Bello Usman and Dr Victor Bobai, in Kaduna on Tuesday, said that the move was to give back to the military personnel for the selfless service to humanity.

According to the forum, the initiative would serve as an appreciation for the sacrifices and contributions of the nation’s military personnel, for their unwavering commitment to safeguarding the country.

The statement pointed out that the Nigerian military has faced numerous challenges in recent times, including insurgency, banditry, and other security threats.

It added that despite these challenges, the military personnel have continued to serve with dedication and bravery.

‘It is our belief that a more comprehensive approach to supporting our military personnel is necessary to ensure their well-being and enhance their effectiveness,’ it said.

The statement said that the endo
wment fund, if established, would serve as a sustainable funding mechanism for the Nigerian military’s social needs and general well-being.

It equally argued that the fund would foster a sense of ownership and responsibility among stakeholders towards the welfare of military personnel.

On the benefits, the forum argued that the fund would enhance the morale of the military personnel, and improve the welfare and well-being of their families.

‘The fund will also demonstrate appreciation for the sacrifices and contributions of our military personnel and contribution to national security and stability.

‘We appeal to Nigerian governors, members of the National Assembly, multinational companies, financial institutions, and the aviation industry to contribute generously to the Nigerian Military Endowment Fund.

‘Your support will significantly enhance the lives of our military personnel and their families.

‘The ACCF believes that the Nigerian Military Endowment Fund will serve as a testament to our nation’s gra
titude for the sacrifices and contributions of our military personnel.

‘We urge all stakeholders to join us in this noble initiative and contribute generously to the endowment fund,’ the statement said.

The statement also urged wealthy entrepreneurs, politicians and public office holders to ensure that the military, who were having sleepless nights to keep Nigerians safe, were adequately supported.

It particularly quoted the ACCF National Coordinator, Bobai, as urging Nigerians to encourage and boost troop’s morale by showing appreciation for their sacrifices and service to the nation.

It further stressed the need to provide emotional support, counselling services and mental health resources to help soldiers cope with trauma.

The statement appealed to relevant stakeholders to donate to the military welfare funds, volunteer with military organisations, advocate for improved military welfare and support military operations.

‘Nigerians should also foster community engagement, build relationships between th
e military and local communities to promote trust, cooperation and patriotism.

‘We should also provide essential resources by donating food, water, shelter, and medical supplies to support soldiers in the field.

‘Stay informed and educated by staying up-to-date on military operations and challenges, to better understand how to support them effectively.

‘Remember, every small action counts, and collective support can make a significant difference in boosting the military’s efforts to achieve peace and development in Nigeria,’ it said.

It further said: ‘A nation’s strength is not only measured by its military might, but also by the support and morale of its people.

‘Let us stand together in supporting our brave men and women in uniform, and boost their morale as they work tirelessly to protect and defend our great nation.

‘Join the ACCF in calling for support for our military – together, we can make a difference.’

Source: News Agency of Nigeria

When the construction of the Dangote Petroleum Refinery Limited began in 2016, Nigerians were upbeat that it will crash the high price of Petroleum Motor Spirit (PMS), popularly known as fuel and also stop its importation.

The refinery, in size of nearly 4,000 football fields and located at the Lekki Free Zone, outside of Lagos, was inaugurated in May 2023.

It has the capacity to produce 650,000 barrels of crude oil per day (bpd), making it the largest single-train refinery in the world.

Nigeria is one of Africa’s largest oil producers, with its oil reserve at 37.50 billion barrels; yet lacks capability to refine its oil; forcing it to rely on imported fuel for so long.

Industry watchers were hopeful that the opening of the refinery will trigger the processing of enough oil; not only to make Nigeria self-sufficient, but to supply petrol, diesel and jet fuel to other countries.

However, perceptive observers are worried that the recent faceoff between Alhaji Aliko Dangote, the owner of the refinery, and t
he managers of the country’s oil and gas industry, appears to be dashing the expectations of Nigerians.

They regret that the 19 billion dollars refinery is now operational, but has not refined PMS due to numerous challenges outlined by the owner himself, Dangote.

Worthy of note, Dangote has accused certain `mafias’ of attempting to sabotage his refinery project.

He lamented that the International Oil Companies (IOCs) were hampering the refinery production by either refusing to sell crude oil or charging him up to four dollars extra, above the standard price.

Dangote complained that efforts to hit the ground were being frustrated as the refinery was unable to secure its full crude oil requirement from domestic production for its operation.

He acknowledged that the Nigerian National Petroleum Company Limited (NNPC Ltd.) supplied about 60 per cent of the 50 million barrels it lifted.

Piqued by aforementioned, Anthony Chiejina, Group Chief Branding and Communications Officer, Dangote Refinery, urged the Nig
erian Upstream Petroleum Regulatory Commission (NUPRC) to fully enforce the Domestic Crude Supply Obligation (DCSO) as mandated by the Petroleum Industry Act (PIA).

‘Our concern has always been NUPRC’s reluctance to enforce the DCSO and ensure that we receive our full crude oil requirement from the NNPC and the IOCs producing in Nigeria, which always redirect us to their international trading arms.

‘Consequently, we often purchase the same Nigerian crude oil from international traders at an additional three to four dollars premium per barrel which translates to three to four million, per cargo,” he said.

At the other end, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Dangote were also at loggerheads over indiscriminate issuing of licences to individuals who allegedly imported contaminated fuel.

Dangote’s accusations against some high-placed individuals of the importation of contaminated fuel was, however, refuted by the NMDPRA which was of the opinion that no dirty fue
l was imported into the country.

NMDPRA added that it took seriously its statutory mandate to ensure that only quality petroleum products are supplied and consumed in Nigeria.

NMDPRA said that the Dangote refinery was at its pre-commissioning stage, while its diesel was below international standard, adding that the country would not stop fuel importation to avoid monopoly by the refinery.

Dangote, however, refuted the NMDPRA position on the issue and also declared that NNPC Ltd. no longer owned a 20 per cent stake in its Refinery, after it failed to pay the balance of its shares, which was due in June.

The company maintained that the Nigerian oil company owned only 7.2 per cent of the refinery.

For NNPC Ltd., Dangote’s decision amounted to a breach in their agreement, as the decision to cap its equity participation at the paid-up sum was made and communicated to Dangote refinery several months ago.

Dangote subsequently alleged that the NNPC Ltd. opened a blending plant somewhere off Malta, where they br
ought in poor quality products with fake certificates.

The NNPC Ltd. swiftly refuted the allegation and urged Dangote to disclose the identity of workers of the company whom he claimed owned a blending plant in Malta or make them known to relevant security agencies for necessary actions.

The Minister of State Petroleum Resources (Oil) Sen. Heineken Lokpobiri, had also convened a high-level meeting with key oil managers which marked a significant step in resolving the challenges and issues surrounding the Dangote Refinery.

The meeting had in attendance Dangote, Mr Farouk Ahmed, Authority Chief Executive, NMDPRA, Mr Gbenga Komolafe, Commission Chief Executive, NUPRC and Malam Mele Kyari, Group Chief Executive Officer, NNPC Ltd.

Weighing in on the imbroglio, President Bola Tinubu recently directed the NNPC Ltd. to commence crude oil sale to the refinery and other local refineries in naira denomination, to promote crude oil trade, using the local currency.

Policy analysts are of the view that the president’s
directive- Naira Crude Sales Initiative- marks a significant milestone in Nigeria’s journey towards economic prosperity and all eyes are on the promising future and development.

Nonetheless, the refinery is yet to buy crude in naira; hence the Minister of Finance and Coordinating Minister of Economy, Mr Wale Edun, is initiating a meeting of relevant stakeholders to ensure the realisation of the policy objective.

Reacting to the current crisis in the industry, former President, Olusegun Obasanjo said that cabals in Nigeria’s oil sector would continue to frustrate the Dangote Refinery because they were benefiting from the refined petrol import.

Obasanjo expressed worry that those profiting from the lucrative fuel importation business will do everything within their powers to sabotage the Dangote Refinery.

Sharing a similar stance, Dr Akinwunmi Adesina, President, African Development Bank (AfDB), warned that the whole issue on Dangote Refinery was shocking and creating bad waves for Nigeria globally.

Accord
ing to Adesina, Nigeria cannot and must not undermine, disparage or kill local industries.

‘It is more than simply delivering the cheapest product to the market; it is about domestic supply security, driving (and yes, protecting) globally competitive industries, maximising forward and backward linkages in the local economy, job creation, reducing forex expenses and shoring up the naira,” he said.

Reflecting on the impasse, an Economic Expert, Dr Chijioke Ekechukwu, said the situation would impede the economic and beneficial projections for 2024 and 2025.

‘There are a myriad of by-products from the refining of crude oil which will also add to the export products of Nigeria through Dangote Refinery.

‘When more of these products are exported, there will be more foreign currency inflows and attendant increase in their liquidity while the exchange rate is expected to drop accordingly.

‘The production of the refinery will obviously reduce the amount of foreign currencies hitherto deployed to import the same;
our foreign reserve can be used as a buffer for other obligations.

‘These are all the beneficial projections which are made for 2024 and 2025 but with the current impasse between the refinery and their regulators therefore, these projections are not likely to materialise,” he said.

More so, an Oil and Gas Consultant, Mr Henry Adigun, described the refinery as one of the best in the world and called for a proper engagement between the Dangote group and the regulators rather than imbibing wild accusations, threats, misinformation and media war.

Adigun advised that issues of crude supply, petrol pricing and subsidy among others in the country should be worked out.

He explained that the call for IOCs to give out crude at less than market prices as expected by Dangote was against the provision of the Petroleum Industry Act (PIA) which dwelled on willing buyer- willing seller, and not because Dangote was involved.

According to Adigun, the PIA, which is the law governing the oil and gas industry, should be obe
yed and respected while the national assets must be protected.

‘Even if Nigeria gives all her crude oil, it will not be enough hence Dangote will still need crude oil from outside the country to blend.

‘We do not have enough crude oil to offer; we are producing 1.6 million barrels per day; if all the refineries start working, that might not even go round,” he argued.

Meanwhile, Speaker, House of Representative, Tajudeen Abbas, has constituted a new seven-member panel that will be part of the joint committee to probe alleged economic sabotage in the petroleum industry.

The development followed the recent dissolution of the ad hoc committee earlier set up by the House to probe alleged infractions in the oil and gas sector.

All in all, it is stakeholders’ opinion that the squabble in Nigeria’s most strategic sector will be counter-productive as the nation drudge through economic recovery.

They urge all parties entangled in the melee to put national interest above private interests and resolve the complica
tions amicably.

Source: News Agency of Nigeria

Chief Ajuri Ngelale, Special Presidential Envoy on Climate Action, says the Federal Government has implemented cost saving measures ahead of the United Nations Climate Change Conference or Conference of the Parties (COP 29) in Azerbaijan in November.

Ngelale said this while briefing State House correspondents on Tuesday in Abuja.

He said on the directive of President Bola Tinubu, his office and Dr Nkiruka Madukwe, Director General, CEO, National Council on Climate Change, had introduced a Climate Accountability and Transparency Portal for COP 29.

‘Many Nigerians will recall that there was an outcry over the size of the Federal Government delegation to COP 28 in Dubai, United Arab Emirates.

‘There was deliberate misinformation, but we also found out that there were government officials who had no business at that meeting.

‘President Bola Tinubu, therefore, approved an audit of that exercise to fully understand and ascertain what happened, and what must be done to ensure that what happened never repeats i
tself in this country,’ said Ngelale.

He said the audit, which had been concluded, detailed the expenditure profile of COP 28 with a view to ensuring that expenditure ahead of COP 29 would lead to the economic empowerment of Nigerians and the economic development of the nation.

Ngelale said the Climate Accountability and Transparency Portal, would among other things, ensure that all members of the delegation across ministries, departments, agencies and legislators would be captured on the portal.

‘This will mean that Nigerians will have full and real time access to the number of those attending and those who government is sponsoring COP 29.

‘This will also ensure that anyone who is attending this conference has an economic imperative to be at that conference, engaging with companies, multilateral partners and stakeholders who will attract finance and opportunity into the country for the benefit of our people.

‘Anyone who is not engaging in activities that are directly linked to the attraction of business
opportunity, or finance into the country will not be part of the federal government’s delegation this time around,’ said Ngelale.

He said in addition to the portal, the audit of COP 28 in Dubai indicated significant expenditure on provision of platforms that proved to be wasteful.

‘So, ahead of COP 29 we have resolved that there will be no showcase pavilion as part of the Federal Government’s cost reduction efforts.

‘We recognise that what can be achieved through a showcase pavilion can be achieved in a far more economically efficient mode by effectively utilising the delegation office that is on site within the conference complex.

‘By taking that option, the nearly 500,000 dollar showcase pavilion that was purchased for last year’s COP 28 will no longer be an expenditure item in COP 29,’ said the envoy.

He also said that the delegates office would be used to conduct bilateral meetings instead of the showcase pavilion, which would cost less than 10 per cent of the cost of the showcase pavilion.

Ngelale
added that wasteful expenditure on consultancies and subcontracts for lighting and technological provisions would be provided directly from the Secretariat of the National Council on climate change.

‘We have put ourselves in a position to save this country over N10 billion on this 11-day event, COP 29, in November.

‘So, the president will continue to ensure that Nigerians have confidence in all of our activities moving forward.

‘We have conducted a comprehensive audit of where we have gone wrong in the past, with a view to resolving them through COP 29, and this is just the beginning,’ said Ngelale.

Source: News Agency of Nigeria

The Nigerian National Petroleum Company Limited (NNPC Ltd.), says it has not paid fuel subsidy to anybody in the last nine years.

Chief Financial Officer of the company, Alhaji Umar Ajiya made the clarifications on Monday in Abuja.

Ajiya said the NNPC Ltd. was only taking care of Premium Motor Spirit (PMS) importation shortfalls between the company and the federation.

‘In the last eight to nine years the NNPC Ltd., has not paid anybody a dime as subsidy, no one has been paid kobo by the NNPC Ltd. in the name of subsidy.

‘No marketer has received any money from us by way of subsidy.

‘What has been happening is that we have been importing PMS, which has been landing at a certain cost price and government tells us to sell it at half price.

‘So the difference between the landing price and that half price is what we call shortfall.

‘And the deal is between the Federation and NNPC Ltd., to reconcile, sometimes they give us money, so there is no money exchanging hands with any marketer in the name of subsidy
,’ he said.

According to him, credit lines are prevalent in the downstream business based on the world wide commercial system, adding that the company was in an open credit agreement with PMS suppliers in the past, with term lines agreement for payment.

Also, Dapi Segun, the Executive Vice President, Downstream, NNPC Ltd., said that establishing an open credit agreement with suppliers spoke volume of the credibility which the national oil company had built over a period of time.

‘Concerning the outstanding to the suppliers, it is not in that magnitude that has been put out, it is actually lower than the N6.8 billion.

‘What matters really is the relationship between us and our suppliers to ensure that we keep faith in making these payments to our suppliers which we have done overtime.

‘You would understand that it is not a static figure and I wouldn’t want to be quoting any figure, when we make payments it goes down, when they supply products it goes up.

‘It is a dynamic way, but the most important thing
is to ensure that we continue to make PMS available across the country,’ he said.

Source: News Agency of Nigeria