FG engages local refiners on products pricing, dismisses dirty fuel import report – Newstrends
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FG engages local refiners on products pricing, dismisses dirty fuel import report

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FG engages local refiners on products pricing, dismisses dirty fuel import report

The Federal Government has met with local refiners of crude oil on a number of issues including pricing of their products and exportation to other countries.

The meeting held in Abuja on Tuesday also involving oil market provided an opportunity to clear the air on a report of dirty fuel being imported into the country as claimed by Dangote Refinery.

Oil marketers stated the meeting that though local refineries were producing some refined products, it would not stop them from patronising other sources, in addition to buying from the indigenous producers.

The Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, while reacting to claims of dirty fuel importation to Nigeria, said the refined petroleum products with high-sulphur contents were last imported in February.

This, it said, had since been addressed by the regulator.

Executive Director, Distribution Systems, Storage and Retailing Infrastructure, NMDPRA, Ogbugo Ukoha, said

“The NMDPRA today engaged with select marketers who are involved in the importation of AGO (diesel), ATK (aviation fuel) and PMS (petrol), as well as refiners of these products. The singular objective is to continue to collaborate in a manner that guarantees energy security within the country,” he stated.

He said discussions at the meeting covered issues of pricing and competition, adding that the agency would continue to engage with operators “to see that we land at a place where it is ultimately beneficial to Nigerians.”

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He added, “On May 14, 2024, the authority hosted a meeting with marketers. We also had an engagement with refiners separately. What is different today is that both refiners and marketers are around the table, and the singular objective of today’s meeting was to continue to deliberate on how we will guarantee fuel supply stability within a fairly priced market.

“There are several issues that came with that, such as pricing issues, competition, quality, etc. Some of these issues will be ongoing, but all it requires will be continuous engagements and consultations.”

He also spoke on claims that the government was trying to force marketers to buy products from a refinery in Nigeria.

The NMDPRA official said, “What we have in Nigeria is a deregulated market that remains open.

“The law that governs us, which is the PIA, makes several provisions and the authority continues to work towards operationalising all of them. So that’s the guarantee we give, that in the fullness of time, all aspects of the PIA will be operationalised.”

Asked to state the refined product that was considered by parties at the meeting, Ukoha said, “Currently, the refiners locally are producing substantial volumes of AGO (diesel), ATK (aviation fuel) and we have assurances that shortly PMS will also kick in. There are also other intermediate products being produced.”

“There is no dirty fuel that is being brought into Nigeria,” Ukoha declared when asked to react to the allegations levelled against the NMDPRA by a senior official of the Dangote refinery.

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It was reported on Monday that the Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of granting licences indiscriminately to marketers to import dirty refined products into the country.

Responding to this on Tuesday, the Federal Government’s agency insisted that it had adopted all the stipulated procedures required for the importation of refined petroleum products into Nigeria to halt the inflow of dirty fuels.

It further stated that refineries in Nigeria were also taking steps to see that the refined products that they produce conformed with the standards approved by ECOWAS for the region.

The Group Managing Director, RainOil Ltd, Gabriel Ogbeche, said marketers were free to source products anywhere, but noted that local refiners were being patronised.

“One of the things we’ve agreed is that there’s going to continually be a level playing field between the marketers and refiners. We will continue to collaborate for the best interest of the industry,” he said.

Asked to state the challenges faced by marketers operating in the downstream sector which they would want the government to address, Ogbeche replied, “Up till today we have options and I can assure you that all the major marketers have been patronising the local refineries and we will continue. We also have the option of getting products from other sources and to the best of our knowledge that has not changed, even though conversations around that are ongoing.”

FG engages local refiners on products pricing, dismisses dirty fuel import report

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N25.7 billion fraud: Supreme court upholds Francis Atuche’s conviction

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Francis Atuche

N25.7 billion fraud: Supreme court upholds Francis Atuche’s conviction

In a landmark judgment, the Supreme Court of Nigeria has upheld the conviction of Francis Atuche, former Managing Director of Bank PHB Plc, for his role in a N25.7 billion fraud scheme.

Atuche’s legal battle, which began in 2011, has finally come to an end with the Supreme Court’s unanimous decision to affirm his conviction.

The court found him guilty of conspiracy to commit felony and stealing, and sentenced him to six years in prison.

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The Economic and Financial Crimes Commission (EFCC) had arraigned Atuche, his wife Elizabeth, and Ugo Anyanwu on a 27-count charge in 2011.

While Elizabeth was acquitted due to insufficient evidence, Atuche and Anyanwu were found guilty and sentenced to prison.

The Supreme Court’s decision sets a precedent for the nation’s justice system, emphasizing the importance of credible evidence in criminal cases.

N25.7 billion fraud: Supreme court upholds Francis Atuche’s conviction

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Tenure of FCT council chairmen will expire in 2026 – INEC

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INEC Chairman, Prof. Mahmood Yakubu

Tenure of FCT council chairmen will expire in 2026 – INEC

The Independent National Electoral Commission (INEC) has clarified that the council chairmen and councillors in the Federal Capital Territory would remain in office till 2026.

The Chairman of the Commission, Prof. Mahmood Yakubu, made the clarification at a meeting with the Inter Party Advisory Council (IPAC) on Friday in Abuja, following the agitation for the conduct of fresh elections in the FCT.

According to the INEC Chairman, the tenure of office of the elected officers begins on the date of taking the oath of office, not the date of conduct of the election.

He explained that the National Assembly has since repealed and re-enacted the Electoral Act 2010 (as amended) which provided for a three-year tenure for Chairmen and Councillors, as the Electoral Act 2022.

“In particular, in the exercise of its powers as the law-making body for the FCT, the National Assembly extended the tenure of the Area Councils from three to four years, thereby aligning it with executive and legislative elections nationwide.

“This is one of the important provisions of the Electoral Act 2022. The Act came into force on Friday 25th February 2022, two weeks after the last Area Council elections in the FCT.

“By the time the elected Chairmen and Councillors were sworn in four months later on 14th June 2022, they took their oath of allegiance and oath of office on the basis of the new electoral Act (i.e. the Electoral Act 2022) which provides for a four-year tenure. Consequently, their tenure therefore expires in June 2026,” Yakubu said.

He further explained that in the case of the FCT, Section 108(1) of the Electoral Act 2022 under which the current Chairmen and Councillors were sworn-in on 14th June 2022, is clear and therefore unambiguous.

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“(1) An Area Council shall stand dissolved at the expiration of 4 years commencing from the date – (a) when the Chairman took the oath of office; or (b) when the legislative arm of the Council was inaugurated whichever is earlier”.

Yakubu noted that there are several judicial authorities, including the judgement of the Supreme Court, that tenure begins from the date of oath of office and not the date of election.

“You may also wish to note that when the Electoral Act 2022 was signed into law two weeks after the Commission conducted the last Area Council elections in the FCT, the incumbent holders (Chairmen and Councillors) challenged us that we conducted the election too early, claiming that the new Electoral Act extended their tenure from three to four years.

“We reminded them that they took their oath of office under the old law before the coming into force of the new Electoral Act. Therefore, their tenure will expire in June 2022.”

“I wish to reassure you that we are aware of our responsibilities under the law. Section 28(1) of the Electoral Act 2022 requires the Commission to release the Timetable and Schedule of Activities 360 days (i.e. One year) before the date fixed for the election. It cannot be released two years ahead of the elections.

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“As you are all aware, the Area Council election in the FCT conducted by INEC remains a model for Local Government elections in the country. There is stability of tenure for Chairmen and Councillors.

“There has never been a caretaker committee in any Area Council in the FCT. Democratic elections are conducted on a regular basis. There is plurality of electoral outcomes as no single political party has ever won elections in all the 68 Constituencies (six Area Council Chairmen and 62 Councillors).

“We will continue to uphold the sanctity of tenure and improve the credibility of these elections.”

The INEC Chairman appealed to all persons with the ambition to contest for the positions of Chairmen and Councillors in the FCT to be guided by the provisions of the law and judicial pronouncements on the issue of tenure.

He also appealed to political parties to enlighten their members accordingly, adding that at the appropriate time, the Commission will release the Timetable and Schedule of Activities for the election.

Tenure of FCT council chairmen will expire in 2026 – INEC

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Some private jets used for money laundering, drug trafficking – Keyamo

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Some private jets used for money laundering, drug trafficking – Keyamo

Minister of Aviation and Aerospace Development, Festus Keyamo, has accused some private jet owners of using their aircraft for money laundering and drug trafficking.

Keyamo said this on Thursday during the inauguration of a ministerial task force committee on illegal private chartered operations and related matters in Abuja.

The minister said he had set a five-point agenda that would guide him and his team in discharging the mandate of President Bola Ahmed Tinubu when he assumed office.

He said the five-point agenda encapsulates safety, infrastructure, support for local operators, human capacity development and revenue generation.

Accordingly, he said the ministry has identified issues within the aviation industry “that we must tackle headlong”.

“It has come to my attention, through a series of disturbing reports, that the practice of illegal charter operations is thriving within the aviation industry, thereby undermining the efforts of the Nigerian Civil Aviation Authority and other regulatory bodies,” he said.

“These illicit activities have not only resulted in significant financial losses to the Federal Government but have also raised security and safety concerns as the operations of private aircraft owners have remained largely unchecked and unregulated.”

This, Keyamo said, has also resulted in using private aircraft for other illegal activities.

“Last week, the National Security Adviser wrote to us, alerting us to the spike in money laundering, drug trafficking and other illegal activities through the use of private aircraft in the country,” the minister said.

“It appears that Private Non-Commercial Flight (PNCF) operators have become increasingly emboldened, continuing their illegal operations with the assistance of Air Operator Certificate (AOC) holders who collect tolls and list these illegal charters under their AOCs.

“We have received alarming reports that some crew members have not attended mandatory simulator trainings for nearly three years and are flying with fraudulently-obtained renewed licences.

“Many of these individuals are operating planes registered under PNCF but are conducting illegal charter operations with impunity.”

To combat the illegal operators, the minister announced the immediate composition of a ministerial task force on illegal private charter operations and related matters.

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