Headline

‘Why Fuel Scarcity, Long Queues Persist In Nigeria’

Published

3 years ago

January 8, 2023

Lack of adequate investment in the downstream sector has been fingered as the cause of the perennial fuel scarcity and its attendant long queues in filling stations across the country.

The Chief Executive Officer, CEO of Pinnacle Oil and Gas Limited, Peter Mbah stated this, weekend, while speaking to State House correspondents shortly after the company paid a thank-you visit to President Muhammadu Buhari at the Presidential Villa, Abuja.

Chief Mbah, who is the Peoples Democratic Party, PDP, governorship candidate in Enugu State in the forthcoming election, said in order to bridge the gap, Pinnacle Oil and Gas has invested about a billion dollars to address the stagnation of investment in the downstream sector.

Asked whether the country will ever get over the intermittent scarcity it witnesses every time, the Industrialist said that with the intervention of his company and investments from other Nigerians in the downstream sector, the problem will be a thing of the past.

He said, “There has been a deficit in the set of investments Pinnacle has done in the last decades. But what we’re doing right now, is to address that stagnation of investment in the downstream oil and gas industry.

“This is an investment size of about a billion dollars. So we are expecting to see more of such investments because what the Pinnacle has done is create some efficiency in the supply and distribution value chain of the downstream sector.

“So we are indeed expecting that more investment in the downstream sub-sector would completely eliminate the sort of scarcity we are witnessing today.”

Asked what he came to do at the nation’s seat of power, Chief Mbah said he alongside his team came to show appreciation to Mr President for accepting to inaugurate the company’s storage terminal adjudged to be the largest storage terminal in West Africa.

He said the offshore intake of the storage terminal is also adjudged to be the deepest intake facility in entire Africa.

According to him, “We, Pinnacle Oil and Gas limited, have come here to express our profound gratitude and our heartfelt appreciation to Mr. President.

“You will recall that on the 22nd day of October 2022, Mr. President inaugurated our storage terminal adjudged to be the largest storage terminal in West Africa, with offshore intake facilities also adjudged to be the deepest intake facility in the entire Africa, sitting at a water depth of 23 meters.

“So we do have SPM (Single Point Mooring), and CBM.”

VANGUARD

Headline

Indian Court Denies Bail To Nigerian Man Over Drug Charges

Published

31 minutes ago

May 28, 2026

Editor

A court in India has denied bail to a 44-year-old Nigerian national, Cristian Soporuchukwu, who is currently facing drug trafficking charges in the country.

Cristian Soporuchukwu initially entered India on a business visa but was later arrested over allegations of involvement in the sale of hard drugs.

Reports indicated that after arriving in India, Soporuchukwu travelled through Goa, Delhi, and Mumbai, where he allegedly established links with suspected drug traffickers.

He was accused of purchasing MDMA crystals and distributing them to college students and information technology workers.

According to reports, operatives of the Beguru Police arrested Cristian Soporuchukwu in April 2025 for allegedly selling MDMA crystals around Begur Lake and the AECS Layout Road area.

The New Indian Express reported that the High Court of Karnataka subsequently dismissed the Nigerian’s bail application.

“The anti-narcotics wing seized about 1 kg of MDMA crystals, a pocket weighing machine, 10 zip-lock covers, a mobile phone and a scooter from him,” the report stated.

Justice V. Srishananda, while ruling on the bail application, reportedly held that errors relating to the grounds of arrest could not automatically justify bail in serious narcotics-related offences under the Narcotic Drugs and Psychotropic Substances, NDPS, Act.

The court further noted that Cristian Soporuchukwu had allegedly overstayed his visa in India, according to the report.

Headline

Strait Of Hormuz: US Announces Sanctions Against Iran

Published

1 hour ago

May 28, 2026

Editor

The United States Treasury has announced sanctions against Iran’s Persian Gulf Strait Authority.

Treasury Secretary, Scott Bessent, said this in a statement on Wednesday.

The statement extended the threat of sanctions to anyone paying the fees, saying they may be providing support to and receiving services from Iran’s Revolutionary Guards, and therefore may be exposed to sanctions risk.

“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash.

“Treasury has deprived the Iranian regime of revenue for their weapons programs, terrorist proxies, and nuclear ambitions,” Bessent said.

Bessent added that the US has succeeded in disrupting tens of billions of dollars’ worth of revenue from being accessible to Tehran.

Headline

US Launches New Airstrikes On Iran

Published

1 hour ago

May 28, 2026

Editor

The United States has launched new airstrikes in southern Iran.

The strike shot down four one-way attack drones that posed a threat around the Strait of Hormuz and then a ground control site.

A US official revealed that American forces struck an Iranian ground control station in Bandar Abbas that was about to launch a fifth drone.

The official described the strikes as purely defensive, saying the US intended to maintain the ceasefire.

Report says this is the second time in three days that the US has carried out self-defense strikes against Iranian military targets in southern Iran.

Recall that on Monday the US carried out airstrikes against Iranian missile locations and boats that US Central Command said were preparing to launch mines in the Strait of Hormuz.