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Why IOCs Are Divesting From Nigeria — Tony Elumelu

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Nigerian businessman, Tony Elumelu, has said oil theft largely contributed to the reasons International Oil Companies (IOCs) are divesting their interests from Nigeria to other countries.

Elumelu stated this in an interview published by the Financial Times on Friday.

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According to him, the government and security agents in Nigeria should be able expose those responsible for stealing the country’s crude oil.

His recent outburst follows that of 2022 when he tweeted about how the country lost a huge amount of its crude oil to oil thieves.

“How can we be losing over 95 per cent of oil production to thieves? Look at the Bonny Terminal which should be receiving over 200,000 barrels of crude oil daily. Instead, it receives less than 3,000 barrels, leading the operator Shell to declare force majeure.

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“It is clear that the reason Nigeria is unable to meet its OPEC production quota is not because of low investment but because of theft, pure and simple!

“Meanwhile, oil-producing countries are smiling as their foreign reserves are rising. What is Nigeria’s problem? We need to hold our leaders more accountable!” the founder of Heirs Holdings tweeted in 2022.

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However, speaking with Financial Times, Elumelu said oil thieves still take away 18 per cent of crude from his field.

42,000 barrels of crude are pumped out daily. Theft still takes away about 18 per cent of production,” he stated.

Asked who was behind the theft, he replied, “This is oil theft; we’re not talking about stealing a bottle of Coke you can put in your pocket. The government should know; they should tell us.

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“Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”

He recalled how the previous administration of Muhammadu Buhari, allegedly stopped him from acquiring an oilfield.

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He disclosed that Heirs Holdings had been looking to purchase the oilfield since 2017, having raised $2.5 billion to purchase a different one.

But in a twist, he claimed that former President Buhari and his late Chief of Staff, Abba Kyari, blocked the deal.

In May, the Chief Executive, of Nigeria Upstream Petroleum Regulatory Commission, Gbenga Komolafe, during an industry dialogue on divestments by IOCs in Abuja, said international oil companies including Shell Petroleum Development Company, Nigeria Agip Oil Company, Mobil Producing Nigeria Unlimited, and Equinor were set to divest their investments in 26 oil blocks in Nigeria to indigenous firms.

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He said, “A total of 26 blocks are proposed to be divested. These blocks have an estimated total reserve of 8.211 million barrels of oil, 2,699 million barrels of condensate, 44,110 billion cubic feet of associated gas and 46,604 billion cubic feet of non-associated gas. This is a significant contribution to the nation’s hydrocarbon resources.

“Additionally, these blocks contain P3 reserves estimated at 5,557 million barrels of oil, 1,221 million barrels of condensate, 14,296 billion cubic feet of associated gas and 13,518 billion cubic feet of non-Associated Gas.

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“It is worth noting that a substantial part of the P3 reserves is located in or near producing assets. This means that a competent successor could easily mature them to 2P reserves.”

The NUPRC boss further stated that the current average production from these blocks was 346,290 barrels per day.

Providing a breakdown of this figure, Komolafe stated that the average oil production from NAOC was 28,018 bpd; MPNU, 159,378 bpd; Equinor, 36,155 bpd; and SPDC, 122,739 bpd.

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“But the technical production potential is much higher – standing at 643,054 barrels (NAOC -147,481 bpd, MPNU – 244,268 bpd, Equinor – 39,203 bpd, and SPDC -212,102 bpd).

“These blocks have the potential to significantly boost our national production, which would benefit all stakeholders,” he said.

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Court Restrains EDSIEC, Edo Govt From Conducting LG By-elections

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An Edo State High Court sitting in Benin City has restrained the Edo State Independent Electoral Commission (EDSIEC) and the state government from going ahead with planned local government by-elections across 59 wards in the state.

The Edo State Attorney General and Commissioner for Justice was also a party to the suit.

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Justice Mary E. Itsueli, sitting as a vacation judge, granted the order on Tuesday, September 16, 2025, following an ex-parte motion brought to the court by the Peoples Democratic Party (PDP).

The PDP, through its counsels, Oluwole Osaze Uzzi, Michael Ekwemuka and P. W. Akwuen, in the suit marked: B/247M/2025, had prayed the court for leave to apply for judicial review of EDSIEC’s decision to conduct by-elections to fill councillorship positions in the affected wards.

READ ALSO:Court Orders Arrest Of 2 Lawyers Over Alleged Forgery, Impersonation

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The party argued that the councillors’ tenures remain valid until September 2026, making any attempt to declare their seats vacant unlawful.

Justice Itsueli, who held that the applicants had shown sufficient grounds for the court to intervene, also referred the matter to the Chief Judge of Edo State for reassignment to a regular court, fixing September 30, 2025, for the return date.

In the enrolment order sighted by our correspondent, the PDP sought “an Order granting leave to the Applicant to apply for judicial review of the decision of the 1st Respondent to conduct election across 59 wards purportedly to fill vacancies to their legislative seats/offices of Councillors sponsored by the Applicant, when their respective tenures subsist until September, 2026.”

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The PDP also asked the court to grant “an Order that the Respondents stay further action and be restrained from conducting the election or taking any further steps in connection with the planned Local Government by election across 59 wards in Local Government Areas of Edo State, particularly as it relates to the seats/offices of the duly elected Councillors in their respective Wards, pending the hearing and determination of the Originating Motion on notice for judicial review to be filed pursuant to the grant of leave.”

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Having duly considered the application and submission of the Counsels to the PDP, the Court ordered that “the applicants are granted leave to apply for Judicial review of the decision of the 1st Respondent to conduct by elections across 59 Wards, purportedly to fill vacancies in the legislative seats/offices of Councillors sponsored by the Applicant, when their respective tenures subsist until September, 2026.”

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The Court also ordered that the “respondents are to stay further actions and are restrained from conducting the election or taking any further steps in connection with the planned Local Government by-election across 59 wards in the Local Government Area of Edo State, particularly as it relates to the seats/offices of the duly elected Councillors in their respective wards, pending the hearing and determination of the originating motion on notice for Judicial review to be filed pursuant to the grant of leave.”

This case is referred to the Honourable Chief Judge for assignment to a regular court. Return date is 30th September 2025,” Justice Mary Itsueli noted.

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JUST IN: Kenya Airways Pays NCAA Sanction Fee For Passenger’s Rights Violations

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Kenya Airways has paid the sanction fee imposed by the Nigerian Civil Aviation Authority over passenger rights violations, including the case involving Nigerian traveller Gloria Omisore.

According to a post by the Director, Public Affairs and Consumer Protection, Michael Achimugu, on his official X account on Thursday, the airline settled the penalty on Wednesday, September 17, 2025, following a series of meetings that included the Kenyan High Commissioner to Nigeria, airline representatives, and officials from Jomo Kenyatta International Airport.

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Kenya Airways has, on Wednesday 17/09/2025, paid the sanction fee as a penalty for the Gloria Omisore and other consumer protection-related infractions,” Achimugu confirmed.

READ ALSO:NCAA Slams Penalty On Kenya Airways Over Gloria Omisore, Others

He stressed that NCAA sanctions are not designed to punish operators but to strengthen compliance with safety and passenger-handling standards.

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As always, NCAA sanctions are not to punish operators, but to help improve their flight operations, especially with regard to safety and passenger handling protocols,” he said.

While commending Kenya Airways for complying, Achimugu noted that payment of fines does not conclude the matter, as the timeframe for resolving the cases has already elapsed. “The payment of sanction fines does not conclude the issues. The NCAA will follow through and is assuring both passengers and airlines of its commitment to protecting their rights and responsibilities,” he added.

Achimugu also emphasised the airline’s long-standing partnership with Nigeria, noting that the penalty was case-specific and does not diminish the positive aspects of its operations.

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The NCAA said it would continue to enforce regulations to safeguard passenger rights and ensure airlines adhere to international aviation standards.

READ ALSO:NCAA Petitions IGP Over KWAM 1’s Unruly Conduct In Abuja Airport

In February, Nigerian passenger Gloria Omisore accused Kenya Airways of mishandling her during a disrupted trip that left her stranded at Nairobi’s Jomo Kenyatta International Airport. Omisore, who had been denied boarding on her connecting flight to Paris due to a missing Schengen transit visa, claimed the airline had earlier assured her she was eligible to travel. The visa issue resulted in a 17-hour layover, followed by an additional 10-hour delay for an alternative London route offered by the airline.

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During the long wait, Omisore requested accommodation and care, citing exhaustion and health concerns, but Kenya Airways declined, arguing that such provisions do not apply in visa-related denied boardings. The situation escalated into a confrontation, captured on video, where Omisore allegedly threw used sanitary pads at staff.

In response, the NCAA launched an investigation, finding Kenya Airways guilty of breaching consumer protection regulations and misleading the public in its initial statements.

On May 7, 2025, the NCAA sanctioned the airline, ordering compensation of 1,000 Special Drawing Rights for each of the three affected passengers, including Omisore, and demanding a public apology.

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Flood: Residents Chide Edo Govt Over Failure To Show Concern

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Residents of Ekpoma in Esan West Local Government Area of Edo State have lambasted the Governor Monday Okpehbolo-led state government over failure to show concern on the tragic incident where a cocoa merchant, Frank Omoruyi, was swept away by flood.

Recall that it was reported on Tuesday that flood swept away a man earlier identified as motorcyclist.

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The residents, while expressing displeasure over the state government’s failure to send any rescue team to help recover the corpse, said they paid what they termed ‘good money’ to divers from Benue State to recover Omoruyi’s corpse from a burrow pit at Uwenbo area after two days of intense search.

READ ALSO:Okpebholo Warns Companies Against Fuelling Edo–Delta Boundary Dispute

The residents who lamented that no state government or local government official joined in the rescue operation, threatened to protest and stop further construction work of the Benin-Auchi highway.

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A resident, Samuel Osarenkhoe said: “Two Benue boys were hired to get the body out. We paid them handsomely. He was a cocoa merchant. He was our member and a good friend.

Another resident, Luis Ebabulu, said: “They were saddened that no government official visited the community two days after the incident occurred.

READ ALSO:Edo PDP Knocks Okpebholo Over ₦2.5b Donation To UBTH

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No government official has been here since the incident occurred. We have been contributing money to pay people to search for the body. We are coming out tomorrow to protest to stop the project. They cannot be doing roads and be killing us.

“Flooding and erosion problems have been worsened by the construction of the Benin-Auchi highway. The contractor channeled flood water to the borrowed pit.”

Edo State Commissioner for Information and Orientation, Hon. Paul Ohonbamu, said Governor l has desilted drainages across the state.

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