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Stop crude for loan deals, Reps tell NNPC

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Group Managing Director of NNPC, Mele Kyari

Stop crude for loan deals, Reps tell NNPC

The House of Representatives Special Joint Committee investigating factors working against the petroleum sector has directed the Nigerian National Petroleum Company Limited to halt what it called the mortgage of Nigeria’s future crude oil until it concludes its assignment.

Recall that the committee chaired by the lawmaker representing Ideato South/Ideato North Federal Constituency, Imo State, Ikenga Ugochinyere, commenced its probe of shady deals in the sector last week.

The committee’s directive followed reports that NNPC is planning to borrow an additional $2bn in crude oil-backed loans from international creditors to boost its financial inflow.

The Group Chief Executive Officer of NNPC, Mele Kyari, according to the panel, reportedly stated that the national oil company was in discussions with international creditors to raise an oil-backed credit facility.

This was a sequel to recent findings that the national oil company was struggling to pay international oil traders a backlog of $6bn amid subsidy removal.

In a statement issued by Ugochinyere on Wednesday, the lawmaker urged NNPC not to undermine the forensic investigation by the House of Representatives with another fresh loan.

It warned that the move if allowed, would further worsen the situation of of things, starve the refineries of feed-stock, weaken revenue generation and create room for waste of future revenue.

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The statement reads, “The citizens were excited on the recent news of President Bola Tinubu’s intervention for crude supply to local refineries in naira and the committee has received intel of plans to mortgage future crude revenue and oil for another loan at a time the nation is struggling.

“This is preemptive of the committee’s work and we want to announce the halt of this fresh move and for the state oil company to brief the parliament.

“The revenue being mortgaged is a sovereign wealth of the people and the parliament has a duty as the watchdog of the commonwealth to step in. The NNPC today is owned by the Federal Government and Nigerians, hence, its actions must not hurt their shareholders who we lawmakers represent.

“We gathered you here today on a shocking development and alleged move by the leadership of NNPC to mortgage once again our future crude oil assets and revenues for alleged mere administrative purposes.

“As the Chairmen of the Joint Investigative Committees on Petroleum Resources Midstream and Downstream, we have to act in the best interest of the citizens and ensure that the downstream and midstream sectors are protected.”

He noted that the committee in its ongoing investigation is probing allegations of non-remittance to the federation account and non-availability of crude to domestic refineries.

The panel warned the oil company not to work against the recent directive of the Federal Government on the need to protect local refineries.

The statement further read, “We are calling on NNPCL to halt further plans to borrow more loan with crude oil, as the move will sabotage the President’s deal for domestic crude supply.

“In August 2023, following the removal of fuel subsidy and the unification of the forex market which significantly weakened the naira, the Federal Government through the NNPC secured a $3.3bn loan from Afreximbank to shore up liquidity in the market.

“Mele Kyari had explained then that the loan would be used to shore up the foreign exchange reserve and provide a more urgent solution to the country’s forex challenges.

“The loan is said to be paid with crude oil set a $65 per barrel and had earmarked around 90,000 barrels of crude oil for the process. We are urging the NNPC not to undermine the forensic investigation by the House of Representatives into crude oil supply with another fresh loan, as the move is a threat to local refinery.”

Stop crude for loan deals, Reps tell NNPC

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Tinubu Commissions Gateway Airport, Pledges to Crush Banditry in Nigeria

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President Bola Ahmed Tinubu
President Bola Ahmed Tinubu

Tinubu Commissions Gateway Airport, Pledges to Crush Banditry in Nigeria

President Bola Tinubu has pledged to defeat banditry, terrorism, and insecurity across Nigeria, promising continued investment in the country’s security architecture. He made the declaration while commissioning the Gateway International Airport and several other federal projects in Ogun State on Saturday.

Speaking at a reception following the inauguration, Tinubu said his administration will intensify efforts to protect lives and property across the nation. “We will win over banditry and defeat insecurity. We will continue to invest more to strengthen the security architecture of Nigeria,” he stated, emphasizing the government’s commitment to national safety.

The president described the Gateway International Airport as the economic nerve center of Nigeria’s corridor, highlighting its role in boosting the aviation sector, trade, and socioeconomic development in Ogun State and the wider region. The airport is integrated with independent gas and energy infrastructure, ensuring sustainability and operational efficiency.

Tinubu also lauded Governor Dapo Abiodun for using improved federal allocations to develop infrastructure capable of driving Ogun State to greater economic heights. He praised the state government’s focus on mobility, security, agriculture, and industrial development, noting that projects like the airport and new Gateway Airlines will enhance trade, logistics, and employment opportunities.

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Governor Abiodun, in his remarks, emphasized the transformative impact of the airport and related infrastructure on Ogun State’s economy. He noted that the state’s internally generated revenue has grown from ₦40 billion to over ₦250 billion annually, while its GDP increased from ₦4 trillion to ₦17 trillion over the past seven years. He added that the airport features a four-kilometre runway, modern control tower, advanced aviation systems, and cargo facilities, making it a centerpiece of the state’s emerging aerotropolis.

The ceremony also saw the launch of Gateway Airlines, operating Bombardier CRJ900 aircraft, alongside cargo services designed to expand trade and logistics capacity. Beyond aviation, Ogun State has invested heavily in roads, healthcare, and housing, including over 1,600 km of rehabilitated roads, more than 7,000 affordable homes, and 140 primary healthcare centers, according to Governor Abiodun.

The event was attended by prominent dignitaries including Senate President Godswill Akpabio, former President Olusegun Obasanjo, state governors, lawmakers, captains of industry, and traditional leaders. Both praised the collaboration between federal and state governments in delivering critical infrastructure, with Tinubu’s leadership highlighted as key to Nigeria’s development and security progress.

Tinubu emphasized that the federal government’s reforms and infrastructure investments are people-centered, aimed at improving daily life, fostering prosperity, and ensuring national security. He added that these efforts are designed to overcome violence and terrorism while positioning Nigeria for sustained economic growth.

Tinubu Commissions Gateway Airport, Pledges to Crush Banditry in Nigeria

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Mother, Six Children Kidnapped in Fresh Kaduna Bandit Attack

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Commissioner of Police in Kaduna State is CP Muhammad Rabiu
Commissioner of Police, Kaduna State, CP Muhammad Rabiu

Mother, Six Children Kidnapped in Fresh Kaduna Bandit Attack

In a fresh wave of banditry in Kaduna State, a mother and six children were abducted from their home in Kurmin‑Uwa near Janjala community in Kagarko Local Government Area on Friday night. The attack comes less than 24 hours after suspected bandits kidnapped ten residents, including seven members of a single family, in Unguwar Sabon‑Titi, Katari.

According to residents, the raid occurred around 10:23 p.m., with the assailants going directly to the targeted house before whisking away the victims, identified as Ladi Malachy, Patience Malachy, Promise Malachy, Inama Malachy, Peter Malachy, and Aboyi Malachy. Witnesses said the attackers fled into surrounding forests, leaving the community in fear.

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A local resident, Ibrahim Shehu, confirmed the abduction, while a community leader, speaking on condition of anonymity, revealed he alerted security operatives immediately after learning about the raid. However, it remains unclear whether authorities responded promptly. Kurmin‑Uwa is located about two kilometres from Kagarko town, an area that has seen repeated bandit attacks on households.

Security sources indicate that search and rescue operations have been launched, as authorities work to locate the kidnappers and secure the release of the abducted family. Meanwhile, the Kaduna State Police Command has yet to issue an official statement regarding the incident.

The back‑to‑back kidnappings have heightened tension in rural Kaduna communities, with residents calling for intensified patrols, improved security presence, and faster emergency response to prevent further abductions. Analysts warn that without swift action, such violent raids may continue to terrorise villages across the state.

 

Mother, Six Children Kidnapped in Fresh Kaduna Bandit Attack

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INEC Warns ADC Against Holding Convention Without Supervision

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Chairman of the Independent National Electoral Commission (INEC), Joash Amupitan
Chairman of the Independent National Electoral Commission (INEC), Joash Amupitan

INEC Warns ADC Against Holding Convention Without Supervision

The Independent National Electoral Commission (INEC) has cautioned the African Democratic Congress (ADC) against proceeding with its planned congresses and national convention without proper supervision and in defiance of an existing court order.

Chairman Joash Amupitan issued the warning during an interview on Arise TV on Friday, after the ADC insisted on going ahead with its convention despite INEC’s derecognition of the leadership faction linked to David Mark and Rauf Aregbesola.

Amupitan stressed that INEC’s actions were guided by legal considerations, particularly a subsisting court order restraining the ADC from taking steps that could undermine ongoing legal proceedings. “Don’t do anything. Don’t take any step that will render any proceeding before the court nugatory,” he said.

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He explained that the ADC’s plan to conduct congresses and a national convention is already part of a pending legal process, with motions related to the activities yet to be determined by the court. Ignoring the court’s directive, he warned, could result in invalidated elections or nullified internal party decisions, citing precedents in Zamfara and Plateau states where failure to comply with court orders affected electoral outcomes.

Amupitan highlighted the risks of repeating past mistakes, stressing that while the ADC is free to act as it chooses, INEC would not risk supervising illegal or unauthorized party activities. He reinforced the importance of adhering to the Electoral Act and judicial directives to ensure that party events are legally recognised and free from future challenges.

The INEC Chairman’s warning comes amid heightened tension within the ADC, with the faction led by David Mark facing derecognition and ongoing litigation over the party’s legitimate leadership. Analysts note that the statement underscores INEC’s commitment to rule of law, legal compliance, and internal party democracy, especially as Nigeria approaches the 2027 general elections.

INEC Warns ADC Against Holding Convention Without Supervision

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