News

Nigeria Lost N2.3tn Revenue To Oil Theft in 12 Months — IOC

Published

2 years ago

April 25, 2023

Nigeria has lost an opportunity to produce and sell about 65,700,000 barrels of oil in the last one year due to issues bothering on pipeline vandalism and the resultant oil theft.

This translates to about N2.3tn loss in oil revenue if the prevailing exchange rate and average oil price are used.

The Chairman of Shell Companies in Nigeria, Dr Osagie Okubor, said at the just concluded Nigerian International Energy Summit held in Abuja, said the 180, 000 barrels per day Trans Niger Pipeline had remained shut for more than one year- March 2022 to March 2023.

The loss from March last year to March this year brings total shut in/loss to about 65, 700, 000 barrels. Brent crude price averaged about $83 per barrel from March 2022 to March 2023, meaning the country could have lost as much as N2.3tr to the menace.

The TNP, a Joint Venture operated by SPDC is a major pipeline capable of transporting about 180,000 barrels of crude per day to the Bonny export terminal.

Speaking at the NIES, Okunbor said the TNP remained shut for one year due to the massive crude oil theft on the pipeline.

The pipeline, according to Shell, is part of the gas liquids evacuation infrastructure, critical for continued domestic power generation and liquefied gas exports.

He said, “What keeps me awake today as regards my onshore business in Shell is the fact that we cannot operate a pipeline, and that’s what is responsible for the 60 percent capacity. I think today that is almost just how much gas we can supply,” he said.

“And this is because one of our key gas infrastructures — the TNP — was shut down for one year; we removed 460 illegal connections on that line. We just reopened that line. Today we are struggling to catch up with our first programme.”

Okunbor said the loss was often viewed as affecting Nigeria’s oil production quota to the Organisation of Petroleum Exporting Countries.

He stressed that the situation was also having devastating implications on the supply of gas to the Nigeria Liquefied Natural Gas.

“So, if you ask me what the number one issue has to be for the incoming administration, it has to be the security of oil and gas infrastructure. If you don’t fix it, then we have a huge problem on our hands,” Okunbor said.

Okunbor advised the incoming administration to prioritised the security of oil infrastructure.

There were reports that the Federal Government was planning to reopen the pipeline last October.

However, talks with the Bodo community in the Gokana Local Government Area of Rivers State appear to have collapsed.

Okunbor however said Nigeria was not short of frameworks and written documents on how to tackle the various challenges in the oil sector.

He noted that the decade of gas document, for example, included steps to deepen gas use, but implementation remained a challenge.

On his part, Managing Director of Nigerian Liquefied Natural Gas Limited, Philip Mshelbila, pointed out that 40 per cent of globally renowned gas firms’ capacity had been lying fallow due to theft.

He added that the lack of power to execute the recommendations and policies in the various documents and laws of the oil sector remained a challenge to the industry.

Last year, the Nigerian National Petroleum Company said it detected an illegal connection on the Trans Escravos pipeline looped to the four-kilometre Afremo test line.
PUNCH

News

Uproar As Senate Okays Non-indigene As Rivers Electoral Commission Chairman

Published

6 hours ago

June 25, 2025

Editor

There was an uproar in the Senate on Wednesday following the approval of a non- indigene, Dr. Michael Odey as the Chairman, Rivers State Independent Electoral Commission, RSIEC.

The confirmation of Odey, who hails from Cross River State, alongside other members of the Commission followed the consideration of the report of the Ad- Hoc Committee on Oversight of Emergency Rule in Rivers State presented by its chairman, Senator Opeyemi Bamidele (APC Ekiti Central).

The development sparked as a few senators objected the appointment of a non-indigene to head a sensitive position as that of a state electoral commission.

Those confirmed as members of the RSIEC are Mr. Lezaasi Lenee Torbira, Prof. Author Nwafor, Prof. Godfrey Woke Mbgudiogha, Prof. Joyce Akaninwor, Dr. Olive A. Bruce and Prof. Chidi Halliday.

Objecting to Odey’s confirmation, Senator Abdul Ningi (PDP Bauchi Central) said bad precedent should not be set by allowing a non-indigene to head the electoral commission of a state.

He said: “I objected as observed because if it is allowed and becomes the norm, it will not be well for the country.

“I do not see the necessity of having someone from another state to chair an electoral body.”

Also kicking against the approval, former Senate Leader, Senator Ali Ndume, (APC Borno South), said it is wrong to scout for a non-indigene for such sensitive position when there are over one thousand indigenes who are qualified.

Referring to a comment by the Deputy Senate President, Jibrin Barau, the Minority Leader, Senator Abba Moro (PDP, Benue South), said politics was infused into the matter.

“It is here that politics is brought into this matter. Nobody is objecting to the personality but to a question of morality this appointment has raised.

“I am not a lawyer and not talking law, we are talking about ethics. This is unethical. We should not intrude politics into what we do here,” Moro said.

But the Chief Whip of the Senate, Senator Tahir Monguno (APC, Borno North), argued that Odey’s appointment is constitutional and that there is nothing wrong im the confirmation by the Red Chamber.

He said: “The constitution is the ground norm and inasmuch as there is no provision in the constitution that is against appointing a non-indigene, the confirmation is then in order.

“Any Nigerian is free to take up appointment in any state. I can be a governor in Benue State. We are talking about constitution, not morality.”

The Senate Leader, Senator Opeyemi Bamidele while appreciating concerns raised, however, appealed that it is a matter that should not be politicized, saying “The matter does not call for grandstanding.”

He argued that Odey is both eligible and qualified as a PhD holder.

Bamidele disclosed that the committee had also raised similar concern during the screening exercise where he called on Odey to provide constitutional evidence of his eligibility.

He said the Odey is eligible and qualified, adding that having the six other members from Rivers State, picking a non-indigene as chairman would create room for transparency and neutrality.

In his remarks, the Deputy Senate President, Barau, who presided over the session, insisted that anybody can work anywhere in Nigeria.

Barau cited an example of an indigene of Edo State who is the Head of Service in Abia State.

He said the objection “is purely politics because it is coming from APC”.

In the same development, the Senate also confirmed the appointment of members of the Rivers State Civil Service Commission and Local Government Service Commission nominated by President Bola Tinubu.

The Civil Service Commission consists of five members, including its Chairman, Dr Livinus Bariki, and Ambassador Lot Peter Egopija, Mrs Maeve Ere Bestman, Mrs Joy Obiaju and Mrs Charity Lloyd Harry as members.

Also confirmed are the chairman of the Local Government Service Commission, Mr Isreal N Amadi and Mr Linus Nwandem, Lady Christabel Ego, George Didia, Dr Tonye Willie D Pepple, Barrister Richard Ewoh, Rear Admiral Emmanuel Ofik (rtd) and Dr Sammy Apiafi, as members.
(DAILY POST)

News

Nigerian Senate Passes 2025 Budget For Rivers State

Published

6 hours ago

June 25, 2025

Editor

The Nigerian senate on Wednesday, passed the 2025 budget of Rivers State, to the tune of N1.485 trillion.

The passage came after the third reading of the appropriation bill on the Senate floor.

This came after the upper chamber considered the report of the Ad-Hoc Committee on Rivers State during the Committee of Supply session.

DAILY POST reports that the bill seeks to authorize the issuance of N1,485,662,592,442 from the Consolidated Revenue Fund of Rivers State for the fiscal year ending December 31, 2025.

According to the approved budget breakdown, N120.8 billion is for debt servicing, N287.38 billion is for recurrent (non-debt) expenditure, and N1.077 trillion is for capital expenditure.

Senator Abdul Ningi (Bauchi Central), while supporting the passage of the bill, however, raised a concern regarding the additional 50 billion naira earmarked for the payment of outstanding pensions and gratuities.

The lawmaker charged the Senate Ad-Hoc Committee to carry out more rigorous oversight to ensure that the funds reach the rightful pension beneficiaries without delay.

DAILY POST reports that with the passage, the Rivers State 2025 budget will now proceed for assent and implementation.

It will be recalled that President Bola Tinubu in May submitted the 2025 Appropriation Bill for Rivers State to the National Assembly for consideration, after the suspension of the state’s House of Assembly.

In a letter addressed to the Senate President, Goodwill Akpabio, the proposed budget totals N1.481 trillion, with major allocations aimed at revitalizing key sectors.

The president also wrote to the House of Representatives for the Rivers State budget approval, reminding the House that the Supreme Court had nullified the 2025 budget presented by suspended Governor Siminalayi Fubara.

News

Kebbi Govt Mulls Death Penalty For Bandit Informants

Published

6 hours ago

June 25, 2025

Editor

Kebbi State Government has said it would review existing laws to impose death penalty or life imprisonment on convicted informants aiding the criminals in the state.

This is coming in the wake of renewed attacks by armed bandits in parts of the state.

The State Governor, Nasiru Idris made this disclosure on Tuesday, when he paid condolence visits to Tadurga village in Zuru and Kyebu in Danko/Wasagu Local Government Areas, both recently targeted by bandits in attacks that claimed 30 lives.

The governor, while describing informants as deadly to society, reiterated his administration’s zero-tolerance stance on insecurity and promised to treat the issue with utmost seriousness.

He expressed sorrow over the tragic loss of lives, praying for the victims and asking Allah to grant the deceased Aljannah Firdausi and a quick recovery to those injured.

“We are here to see things for ourselves, commiserate with you and reassure you of the urgent steps we have taken to improve security,” he said.

The Governor called on the public to refrain from politicizing security issues or spread unverified information on social media, warning that such actions could jeopardise ongoing efforts to restore peace.

Responding, the Chief of Danko, Ibrahim Al’aji, and the Chief of Dabai, Suleiman Sami, appreciated the governor for his swift intervention and called for enhanced security measures, especially along routes used by bandits entering from neighboring states.

The Emir of Zuru, Rtd. Major General Sani Sami also expressed appreciation for the governor’s visit and ongoing commitment to security in the emirate.