The NNPC Limited on Wednesday disclosed that it has signed a Commitment Letter and Term Sheet with AfreximBank for an emergency $3 billion crude oil repayment loan.
The company said the agreement was jointly signed by both parties at the bank’s headquarters in Cairo, Egypt.
NNPC Limited, in a statement made available to Vanguard, explained that the loan “will provide some immediate disbursement that will enable the NNPC Ltd to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”.
Recall that last week, the Federal Government reported a 13.6 percent drop in daily crude oil production in the month of July, leaving the country seriously short of dollar revenues from crude oil export.
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, disclosed that production averaged 1.08 million barrels per day compared to 1.25mbpd recorded in June, latest production data from the, has indicated.
The July production figure was a major setback for the government which has a production target of 1.69 million barrels per day in the 2023 budget. The volume of production was also significantly lower than the 1.7 million barrels per day production quota allocated to the country by the Organisation of Petroleum Exporting Countries, OPEC.
Army Put On Standby As UK Police Hand In Weapons
The United Kingdom’s Ministry of Defence is offering soldiers to support armed police in London after dozens of police officers stood down from firearms duties, BBC reports.
More than 100 officers have turned in permits allowing them to carry weapons, a source told the BBC, in support of a fellow officer who has been charged with murder over the fatal shooting of a young Black man, Chris Kaba.
The officer, named only as NX121, who appeared in court last week, has been charged over the death of Chris Kaba in September 2022.
Kaba died hours after he was struck by a single gunshot fired into the vehicle he was driving in the Streatham area of South London.
It later emerged that the Audi Mr Kaba was driving, which did not belong to him, had been linked by police to a gun incident the day before.
His death prompted a number of protests and renewed allegations of racism within the force.
The Ministry of Defence said it received a request, known as Military Aid to the Civil Authorities, from the Home Office to “provide routine counter-terrorism contingency support to the Metropolitan Police, should it be needed”.
A MACA is offered to the police or the NHS in emergency situations. The military helped medical staff in the Covid pandemic and covered for striking border staff and paramedics last year.
The Met said it was a “contingency option” that would only be used “in specific circumstances and where an appropriate policing response was not available”.
Military staff would not be used “in a routine policing capacity”, it added.
On Saturday, the Met said its own officers still make up the vast majority of armed police in the capital but they were being supported by a limited number of firearms officers from neighbouring forces.
Announcing the review, Home Secretary Suella Braverman said the public “depend on our brave firearms officers to protect us”.
“In the interest of public safety they have to make split-second decisions under extraordinary pressures.”
She said that officers have her “full backing”.
“I will do everything in my power to support them,” she added.
In his letter to the home secretary, the Met Police commissioner, Sir Mark Rowley, said that a system where officers are investigated for “safely pursuing suspects” should not have been allowed to develop.
Sir Mark said he would “make no comment” on any ongoing legal matters, but “the issues raised in this letter go back further”.
He said firearms officers are concerned that they will face years of legal proceedings, “even if they stick to the tactics and training they have been given”.
“Officers need sufficient legal protection to enable them to do their job and keep the public safe, and the confidence that it will be applied consistently and without fear or favour,” he wrote.
But in instances where officers act improperly, Sir Mark said the system “needs to move swiftly” rather than “tying itself in knots pursuing good officers through multiple legal processes”.
Man Charged With Beating His Three Children To Death
Police in Thailand have charged a man with beating to death his two-year-old daughter and his two infant sons, BBC reports.
The police suspect Songsak Songsaeng also killed two other infant sons from a previous marriage.
The charges follow the discovery last week of the body of a two-year-old girl buried beneath a kitchen floor.
Police say Songsak claims to have a history of mental illness, and that he killed his children because he couldn’t tolerate the sound of their crying.
His wife has also been charged over the death of their two-year-old daughter. And his ex-wife has been charged over the deaths of the two boys. All three have been arrested. Songsak has been married four times.
Police were first alerted to a possible case of domestic violence at the Bang Khen district in Bangkok earlier this month.
Songsak’s neighbours reported that his two daughters, aged 12 and four, were being physically abused. Police rescued the two daughters while they were home without their parents.
The 12-year-old told police that their parents had beaten her two-year-old sister, which led to her death. She also helped police trace the body to where it was buried under a kitchen floor in north-west Thailand last week.
Thai police have also charged Songsak with the killing of two other sons he had with his third wife after his DNA matched with that of two infants, whose bodies were unearthed 10 years ago.
His third wife had said he killed their four infant sons and gave police locations where two were buried.
Police believe the two others may have been buried under an area where a petrol station now stands.
JUST IN: Russia Adds ICC President, Hofmanski, To Wanted List
The Russian Government, on Monday, said it had placed the President of the International Criminal Court, which is seeking the arrest of President Vladimir Putin, on its wanted list.
“Hofmanski Piotr Jozef, Polish. Wanted under an article of the Criminal Code of the Russian Federation,” Russian news agencies reported, citing the Interior Ministry.
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