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Oil Theft, Losses Will Fuel Crisis In Nigeria If Not Checked, Osinbajo, Ndiomu Warn

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Vice President Prof Yemi Osinbajo has said that oil theft and losses pose a serious threat to Nigeria’s economy and impact negatively on the revenue of the nation.

According to the Vice President, if left unchecked, these could fuel a public finance crisis that paralyses the government and makes the nation vulnerable.

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Osinbajo spoke at the stakeholders conference of the Special Investigative Panel on Oil Theft and Losses in Nigeria on Tuesday at Transcorp Hilton Abuja

“Oil Theft and Losses is a threat to our economy and national security. They pose a serious threat to our oil economy and impact negatively on revenue of the nation and business prospects of investors in the oil and gas sector.” Osinbajo said.

READ ALSO: NNPCL Vows To Stop Oil Theft As Production Rises Above 1.6m Barrels Per Day

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“If left unchecked this could fuel a public finance crisis that could paralyse the government and make our nation vulnerable,” he added, saying that Oil contributes about 80% of government foreign exchange and contributes six percent of the country’s Gross Domestic Product, GDP.”

He said that large scale theft of crude has undermined the government’s efforts to maximise these resources.

“So the total value of oil lost between 2019 and 2020 is higher than Nigerian foreign reserves at any point in time and almost ten times Nigerian oil savings in the excess crude account. So it’s not an exaggeration at all to say that our oil and gas sector is facing the most serious threat for over half a century…” the VP said.

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Speaking earlier, Chairman of the Special Investigative Panel on Oil Theft/Losses in Nigeria, Major General. Barry Ndiomu, rtd, said that the panel said there is no gainsaying the enormous impact the menace of oil theft has had on the nation’s crude oil production with Nigeria’s oil output hitting a 13-year low of 800,000barrels/day.

The panel visited several sites across the Niger Delta such as the now infamous Yokiri Flow Station Area in Burutu Delta State where the illicit connection on the export line that fed off the TETL was discovered and saw other connecting points used for illegal refining,” he said.

READ ALSO: PAP: Group Gives Ndiomu Nod On Performance, Anti-oil Theft Panel

He said that there have been engagements with the Attorney General of the Federation and Minister of Justice, the Economic and Financial Crimes Commission EFCC, amongst others. which availed the panel information on the challenges the respective organizations faced in securing the nation’s oil assets and combating oil theft.

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“These efforts provided us new knowledge and elicited honest discussions amongst panel members that led to some obvious conclusions. We surmised that the reported theft and loss of crude oil stemmed from the twin issues of complicity and negligence.

“The emergent picture suggests the existence of a sophisticated network of complicity between elements from the host communities, security agencies, and industry players- both government and private institutions alike- as well as international collaborators.”
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NAFDAC Warns On Recalled U.S. Supplements

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The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians about the recall of certain multivitamins and iron supplements in the U.S.

NAFDAC, via its official Twitter handle, stated that the affected vitamin brand is labelled as CINCINNATI (WKRC).

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The agency noted that the supplements were sold across the U.S., including by major retailers such as Walmart and Amazon.

The recall was prompted by a “risk of serious injury or death” from poisoning, especially among young children, due to improper packaging.

READ ALSO:NAFDAC Warns Against VDM’s Inciting Video

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NAFDAC cited a U.S. Consumer Product Safety Commission report, which revealed that 60,000 units were affected by the recall.

The recalled products include Daily Prenatal Multi, Ultamins Women’s Multivitamin, and Ultamins Women’s 50+ Multivitamin.

It was discovered that the products lacked child-resistant packaging, making them dangerous if accessed by young children.

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Without child-resistant packaging, children are at risk of fatal poisoning if they ingest these supplements.

READ ALSO:NAFDAC Warns Against Use Of Excess Hydroquinone In Cosmetics

Even a few tablets of iron supplements can cause vomiting, stomach pain, low blood pressure, or liver damage in young children,” NAFDAC warned.

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In severe cases, NAFDAC said, symptoms may escalate rapidly and could become life-threatening.

All zonal directors and state coordinators have been directed to monitor and remove the CINCINNATI (WKRC) products from circulation.

Distributors, retailers, healthcare providers, and caregivers are urged to remain vigilant to prevent the use or sale of the recalled items.

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NAFDAC advised that any suspected cases of substandard or falsified medicines be reported to the nearest office or via 0800-162-3322, or sf.alert@nafdac.gov.ng.

 

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FG Launches Phase 7 Of Kainji Mass Trials Of Terrorist Suspects

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The Federal Government of Nigeria on Wednesday officially launched Phase 7 of the Kainji Mass Trials of terrorist suspects.

A statement by the strategic communications department of the office of the National Security Adviser ONSA, said “it is part of its continued commitment to combating terrorism, violent extremism, and strengthening the nation’s criminal justice system in line with international best practices”,

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Speaking at the flag-off ceremony on Wednesday, the National Coordinator of the National Counter Terrorism Centre, Office of the National Security Adviser (ONSA), Major General Adamu Garba Laka, emphasised that the trials represent Nigeria’s unwavering pursuit of justice and a reaffirmation of its resolve to confront terrorism through lawful and transparent means.

He said, “It is truly encouraging to see the convergence of the Judiciary, law enforcement, legal practitioners, and partners, once again united in purpose and duty.

READ ALSO:FG Launches Passport Front Office For Senior Public Officials

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These trials are a cornerstone of our national commitment to upholding the rule of law while addressing terrorism and violent extremism.”

General Laka noted that Nigeria has recorded significant successes in strengthening its criminal justice capacity to handle terrorism-related offences.

He further highlighted that recent progress in the prosecution of such cases has played a critical role in addressing concerns raised by the Financial Action Task Force (FATF).

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Indeed, the advancements made through these trials have greatly contributed to Nigeria’s efforts toward exiting the FATF Grey List,” he added.

READ ALSO:Tension As FG Strips FAAN, NCAA, NAMA Of Revenue Collection Powers

On behalf of the National Security Adviser, Mallam Nuhu Ribadu, General Laka extended appreciation to the Federal Government, the Office of the Attorney General of the Federation and Minister of Justice, and the Justices of the Federal High Court for their professionalism and dedication to justice.

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He also acknowledged the valuable support of international partners, investigators, legal teams, and support staff.

Representing the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), the Director of Public Prosecution of the Federation, Mohammed Babadoko Abubakar, commended the collaborative efforts of the ONSA and various local and international stakeholders for their ongoing support and contributions to the trials.

He reiterated the Federal Government’s determination to ensure justice is served to both victims and accused persons within a framework that respects the rule of law and human rights.

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Lagos LG Poll: Police Restrict Movement Saturday

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The Lagos State Commissioner of Police, Mr Olohundare Jimoh, has announced a 12-hour restriction on movement on Saturday across the state for the local government election.

He also ordered a massive deployment of personnel across the state.

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Jimoh disclosed this in a statement signed by the command’s spokesperson, CSP Benjamin Hundeyin, in Lagos on Wednesday.

He said the deployment was to ensure a hitch-free exercise.

READ ALSO:Three-storey Building Collapses On Lagos Island, Many Injured

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Consultative Committee on Elections Security in Lagos State and other critical stakeholders in the election, putting into cognisance foremost public interest to enable adequate security, peaceful conduct and safety before, during and after the election, and also to effectively implement the robust security arrangements to protect and safeguard the election, the electorates, LASEIC officials and adhoc staff and electoral processes and other members of public not participating in the election, hereby wishes to announce and inform the general public in Lagos State of total restriction of vehicular movement throughout Lagos State from 3 am on Saturday 12th July, 2025 till 3 pm of same Saturday 12th July, 2025,” the statement read.

He added that elaborate security arrangements and comprehensive security measures have been put in place to ensure security, safety, and peaceful and orderly conduct of the LG elections.

The command with other security and safety agencies is working together under the Inter-Agency Consultative Committee on Election Security.

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“The restriction of vehicular movements will apply to all roads and waterways within the state jurisdiction,” he said.

READ ALSO:Lagos Opens Teacher Recruitment Portal For Two Weeks

He added that police escorts and armed security aides were strictly prohibited from accompanying their principals to polling units or collation centres.

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The measure was to prevent any undue influence or intimidation during the election.

Police escorts, covered number plates, and the use of sirens at or in the vicinity of polling units and collation centres are prohibited,” he said.

Jimoh said that only vehicles designated for essential services, such as ambulances, fire trucks, and patrol vehicles operated by security agencies in the ICCES, would be permitted to operate during the restriction period.

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The commissioner added, “All other vehicles, including those belonging to any quasi-security outfit and state security agencies, are barred from movement, as no state-owned security agency is authorised to participate in the election security operations, in line with the electoral act.

READ ALSO:FBI Cracks Down On Lagos Fraudster For Stealing ₦460m In Crypto Meant For Trump’s Inauguration

The movement restriction will not apply to essential services such as those on medical emergencies and other emergency responders and their workers, the duly accredited officials of the LASIEC and accredited election observers and media practitioners on election coverage accredited by LASIEC.

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“These categories of groups and individuals are permitted to carry out their lawful duties during the election period, provided they adhere to all the relevant guidelines and regulations in the Electoral Act.”

He said that all the security agencies personnel and other stakeholders, including the media and election observers accredited by LASEIC for the election, would have and wear their identification tags certified by LASEIC throughout the period of the election.

“No one without the identification tag will be allowed to take part in the election. Anyone arrested without an identification tag will be investigated and prosecuted in line with the Electoral Act,” he said.

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