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Senate Summons NNPC Boss Over Contract

Fresh troubles appear to be looming for the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, as the Senate has begun a probe into alleged revocation of OML 13 and re-award to Nigerian Petroleum Development Company, a subsidiary of NNPC, through executive fiat.
The Senate is also summoning Managing Director of Shell Petroleum Development Company of Nigeria Limited (SPDC), Osagie Okunbor over its involvement in the revocation of the OML 13 and its re-award without going the statutory licensing bid rounds.
According to the Senate, it has become imperative to carry out a holistic investigation into the revocation as Nigeria cannot afford another Malabu OPL 245 scandal as the country struggles to navigate away from recession.
Speaking, yesterday, in Abuja during a sitting by the Senate Committee on Ethics, Privileges and Public Petitions on a petition by National Coordinator, Global Peace and Sustainability Network, Chief Longers Anyanwu, Chairman of the Committee, Senator Samuel Anyanwu (PDP, Imo East), warned that the Senate would issue a warrant of arrest on the managing director of SPDC, if he failed to appear.
He said the warrant of arrest would come against the backdrop of the SPDC chief executive’s failure to honour three previous summons, warning that the Senate would do everything possible to block all the conduit pipes being used to siphon the nation’s resources.
Anyanwu said though there was nothing wrong in inviting foreign investors; the action must not kill or swallow indigenous companies.
Earlier in his presentation, National Coordinator of Global Peace and Sustainability Network, Chief Longers Anyanwu, had explained that OML 13 was an onshore oil block on the Eastern Niger Delta and had an acreage of 1,923Sq.m.
He also said OML 13 played hosts to Utapate South and Ibibio fields as well as a string of producing marginal fields, including Frontier oil- operated Uquo, a gas accumulation and the 2,000BOPD Qua Iboe.
According to him, the OML 13 has a total number of 39 oil wells, with a production capacity of about 33,500 barrels of oil equivalent per day, adding that it was made up of Oil Prospecting Licence (OPL) 2001, 2002 abs 2003.
He said: “The said OML 13 was sometime between February and March, 2016, revoked and awardee to NPDC, a subsidiary abs the production arm of the NNPC, through executive fiat and without going through the statutory Licensing Bids Rounds.”
Curiously, this OML 13 which was awarded to the NPDC through an executive fiat has been re-awarded to Sterling Oil Exploration and Energy Production Company (SEEPCO), without this offer going through an open tender abs the advertisement of a Licensing Bids Round by the relevant authorities.
“It is evident that this transaction is shrouded in mystery and under the table circumstances. Hence, it is the intention of this Petition to compel the Senate to use its position to cause a full scale inquiry into this ambiguous transaction.
“From our investigation, we are able to establish that NPDC and SEEPCO could not produce evidence of fair play, either in the award of OML 13 or, in the unlikely circumstance.
‘’In the award of a contract of Farm Out Farm In by the NPDC to SEEPCO as stipulated by the extant Nigerian laws regulating operations in the oil and gas industry and the Public Procurement Act which regulates the activities of agencies defined in the Act as procuring agents.”
Anyanwu, who called for outright cancellation and a reversal of the entire process, said further: “It was shrouded in fraudulent and corrupt processes and never complied with the laid-down procedure contained in the extant Laws, Regulations and Guidelines established for operations in the oil and gas industry.
“Global Peace and Sustainability Network, an organization that is committed to transparency and accountability in all spheres of national life is not comfortable with the circumstances surrounding the divestment and reallocation/Farm Out of OML 13 to SEEPCO in the interest of national progress and economic development, and to foster a sense of accountability in the psyche of Nigerians as a people.
‘’We, therefore, make the following demands: ‘’Thorough investigation of the OML 13 transaction from the point when SPDC was divested of its interest in the Lease to the present, particularly, the period following the award of the Lease to NPDC and its subsequent assignment or Farm Out (whichever is applicable) to SEEPCO.
“That all the participants in this shoddy deal be identified, investigated, prosecuted and severely punished according to the law as their conduct, actions and inactions amount to economic sabotage on the government and people of Nigeria.
“Nigerians demand to see that compliance with due advertisement is made for the Farm Out of OML 13. Particularly, Nigerians would want to see transparent evidence of the process which shall include submission of application by interested companies; payment of the required application, processing and other fees into the stipulated accounts of the Federal Government of Nigeria; pre qualification of interested companies; detailed evidence of announcement of the pre-qualified companies and evidence of detailed technical and commercial bids by pre-qualified companies; evaluation and announcements of winning bids.”
News
Tinubu Orders Security Chiefs To Restore Peace In Plateau, Benue, Borno

President Bola Tinubu has ordered a security outreach to the hotbeds of recent killings in Plateau, Benue and Borno States, to restore peace to areas wracked by mass killings and bomb attacks.
National Security Adviser, Nuhu Ribadu, disclosed this to State House correspondents after a four-hour security briefing with the President at the Aso Rock Villa, Abuja on Wednesday.
“We listened and we took instructions from him. We got new directives…to go meet with the political authorities there,” Ribadu told reporters, adding that Tinubu directed them to engage state-level authorities in the worst-hit regions.
Director-General, National Intelligence Agency, Mohammed Mohammed; Chief Defence Intelligence of the Nigerian Army, Gen. Emmanuel Undianeye; Director-General, Department of State Services, Oluwatosin Ajayi and Chief of Staff to the President, Femi Gbajabiamila, appeared for the briefing.
The Tide’s source reports that in Plateau State, inter-communal violence between predominantly Christian farmers and nomadic herders spiralled into gory slaughter when gunmen stormed Zikke village in Bassa Local Government early on April 14, killing at least 51 people and razing homes in a single night.
In Benue, at least 56 people were killed in Logo and Gbagir after twin assaults blamed on armed herders.
Meanwhile, in Borno State, eight passengers perished and scores were injured when an improvised explosive device ripped through a bus on the Damboa–Maiduguri highway on April 12.
Ribadu explained that after an extensive briefing, intelligence chiefs received fresh instructions to restore peace, security and stability across Nigeria.
“In particular, Tinubu had ordered immediate outreach to the political authorities in Plateau, Benue and Borno States, and the defence team had gone round those States to carry out his directives and report back.
“We gave him an update on what has been the case and what is going on, and even when he was out there, before coming back, he was constantly in touch. He was giving directives. He was following developments, and we, in charge of the security, got the opportunity today to come and brief him properly for hours. And it was exhaustive.
“We listened and we took instructions from him. We got new directives. The fact is, Mr. President is insisting and working so hard to ensure that we have peace, security and stability in our country. We gave him an update on what is going on, and we also assured him that work is ongoing and continues.
“We also carried out his instructions. We went round, the chiefs were all out where we had these incidents of insecurity in Plateau State, Benue State, even Borno, these particular three states, and we gave him feedback, because he directed us to go meet with the political authorities there,” the NSA explained.
Ribadu described Tinubu as “worried and concerned,” and said he directed that all security arms be deployed around the clock.
The government, he added, believes these steps have already produced measurable improvements, even if the situation is not yet 100 per cent safe and secure.
“He’s so worried and concerned, he insisted that enough is enough, and we are working and to ensure that we restore peace and security and all of us are there. The armed forces are there, the Civil Police, intelligence communities, they are there.
“They are working there 24 hours, and we feel that we have done enough to believe that we are on the right course, and we’ll be able to be on top of things,” Ribadu stated.
The NSA emphasised that combating insecurity was not solely a Federal Government responsibility.
He stated, “The issue of insecurity often is not just for the government. It involves the subunits. They are the ones who are directly with the people, especially if some of the challenges are more or less bordering on community problems.
“Not entirely everything is that, but of course it also plays a significant role. You need to work with the communities, the local governments, and the governors, especially the governors.
“The President will continue to direct that. We should be doing that, and that’s what we are able to. We are very happy and very satisfied with the instructions and directives given by Mr. President this evening.”
In Borno State, the NSA noted that while violence had surged in recent months, the insurgents refused to accept defeat.
He warned that most recent casualties there resulted from improvised explosive devices—”cowardly” IED attacks targeting civilians—and from opportunistic raids that follow any lull in fighting.
“We are getting the cooperation of the leadership at the state level, and everybody. It’s not 100 per cent…but we are going there.
“When you are having peace and you are beginning to get used to it, if one bad incident happens, you forget the periods that you enjoyed peacefully,” he added.
He paid tribute to the “many who do not sleep, who walk throughout, who do not go for any break or holiday”—the soldiers, police and intelligence officers whose sacrifices have created the fragile calm Nigerians now experience.
“They will continue to be there,” he said, adding, “Things have changed in this country…we are on the right track and we will not relent. We will not sit down; we will not stop until we are able to achieve results.”
News
FG Laments Low Patronage Of Made-In-Nigeria Products

A Federal Government agency – the National Agency for Science and Engineering Infrastructure, has decried the low patronage of Nigerian-made products by Nigerians.
The agency identified some challenges leading to the low patronage of the local products as affordability and public perception, among others.
Speaking during a stakeholders meeting organised by the agency in Akure, Ondo State capital, yesterday, the Deputy Director of Engineering at NASENI, Mr Joseph Alasoluyi, said Nigerians preferred buying foreign goods compared to local goods.
Alasoluyi, however disclosed that the agency had trained over 50 participants in the production of hand-made products, in a bid to ensure Nigeria-made products are patronised.
He explained that NASENI was set up to promote science, technology, and engineering as a foundation for Nigeria’s development and currently operates 12 institutes nationwide to achieve its objectives.
According to him, the aim of President Bola Tinubu, who is also the overall chairman of NASENI, was to ensure high production and patronage of “our local products thereby creating employment opportunities for many.”
He said, “The idea of this programme is to interface to ensure we produce products using our indigenous technology. This is what NASENI is out for, to ensure that homegrown technologies are encouraged.
“We are out there to ensure we integrate efforts to ensure that local technology is used to develop products within the resources we have.
“ The NASENI’s ‘3 Cs’ – Creation, Collaboration, and Commercialisation – that define NASENI’s strategic mandate: Creating innovations through research, Collaborating with partners to develop and refine products, and Commercialising these solutions to benefit the economy.
“Our achievements include the development of solar irrigation systems, CNG conversion centres, building machines capable of producing up to 1,000 blocks per hour, 10-inch tablets, locally made laptops, and electric tricycles (Keke Napep) set for market launch.”
In his remarks, the Deputy Vice Chancellor of the Federal University of Technology, Akure, Prof. Samuel Oluyamo, blamed the Federal Government for not properly funding research in the varsities, also noting that many research outputs were left halfway due to lack of funding and weak linkages between research institutions and industry.
Oluyamo also queried the Federal Government’s commitment to funding research and development, saying many academic innovations remained on the shelve due to a lack of support for commercialisation and poor infrastructure.
“Until we upscale research into mass production, technological growth will remain elusive. The government is not funding research in the universities enough. Thank God for TETfund that is trying in this regime. The major interest in beefing up research in universities and research institutions is really not there,” he said.
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Nigeria Seeks Return To JP Morgan Bond Index
The Director-General of the Debt Management Office, Patience Oniha, has said that Nigeria is in advanced discussions with JP Morgan to re-enter the Government Bond Index and renew investors’ confidence.
Oniha disclosed this on Wednesday at a Nigerian Investors’ Forum on the sidelines of the World Bank and International Monetary Fund Spring Meetings in Washington, D.C.
The DMO boss explained that Nigeria has enjoyed favourable credit assessment among rating agencies in recent times on the back of the sweeping reforms initiated by the Central Bank of Nigeria.
Fitch Ratings recently upgraded the Long-Term Issuer Default Ratings of seven Nigerian banks and two bank holding companies to ‘B’ from ‘B-‘, noting that the outlooks are Stable.
The affected issuers are Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Bank Limited, Guaranty Trust Holding Company Plc, First HoldCo Plc, First Bank of Nigeria Ltd, Fidelity Bank Plc and Bank of Industry Limited.
The upgrades of the Long-Term IDRs of the banks followed the recent sovereign upgrade and reflect Fitch’s view that Nigeria’s sovereign credit profile has become less of a constraint on the issuers’ standalone creditworthiness, the rating agency said.
Fitch also upgraded Nigeria’s Long-Term IDRs to ‘B’ from ‘B-‘ on 11 April, a decision that reflected increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including exchange rate liberalisation, monetary policy tightening and steps to end deficit monetisation and remove fuel subsidies.
“These have improved policy coherence and credibility and reduced economic distortions and near-term risks to macroeconomic stability, enhancing resilience in the context of persistent domestic challenges and heightened external risks,” Fitch said.
Nigeria was removed from the JP Morgan index in 2015 ostensibly due to its deviation from orthodox monetary policies and influence of capital control in its management of foreign exchange.
Principally due to reduction in oil revenues at the time, Nigeria introduced currency restrictions to defend the naira after it failed to halt a dangerous slide with burning of dollar reserves. The bank had earlier warned Nigeria to restore liquidity to its currency market in a way that allowed foreign investors tracking the index to conduct transactions with minimal hurdles.
“Foreign investors who track the GBI-EM series continue to face challenges and uncertainty while transacting in the naira due to the lack of a fully functional two-way FX market and limited transparency,” the bank said in a 2015 note.
Nigeria was listed in JP Morgan’s emerging government bond index in October 2012, after the Central Bank removed a requirement that foreign investors hold government bonds for a minimum of one year before exiting.
The JP Morgan Government Bond Index reflects investor confidence and opens doors to billions of investment flows, making Nigeria’s proposed re-entry a positive signal to the market and investors.
Oniha explained that talks with JP Morgan were ongoing and had gained momentum in recent times due to the stability created by the FX market reforms.
“With all the reforms that have taken place, particularly around FX, we have started engaging JP Morgan again to get back into the index. We think we are eligible now,” the DMO DG said.
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