NNPCL’s Continuous Fuel Importation Threatening Economic Future – NICOCSO Warns

The Nigerian Coalition of Civil Society Organisations (NICOCSO) has accused the Nigerian National Petroleum Company Limited (NNPCL) of sabotaging Nigeria’s economy by ordering over 1.6 billion litres of Premium Motor Spirit (PMS) into the country with the sole aim of strangulation local refineries.

Speaking during a press conference in Abuja on Tuesday,  its national spokesperson Segun Adebayo, and the national coordinator of the group, Benjamin James, expressed dissatisfaction with the manner the NNPCL is discouraging local refineries from competing with their contemporaries abroad.

According to them, “Today, we gather to address a decision by the Nigerian National Petroleum Company Limited (NNPCL) that threatens the economic future of our nation.

“The decision to import over 1.6 billion litres of Premium Motor Spirit (PMS) is not just a policy misstep but a deliberate move to undermine Nigeria’s local refining potential, cripple the economy, and deepen the hardship faced by ordinary Nigerians.

“The importation of such an enormous volume of PMS places undue pressure on Nigeria’s foreign exchange reserves. With the Naira already struggling against major currencies, this decision will exacerbate the depreciation of our currency.

“A weaker Naira means higher inflation, making life harder for Nigerians as goods and services become increasingly unaffordable. The added cost of importing fuel undermines our goal of achieving energy independence while draining resources that could have been invested in local refineries”.
They said it is alarming that the imported PMS is reportedly of substandard quality, damaging vehicles and increasing maintenance costs for millions of Nigerians.

“From taxi drivers to small business owners, this poor-quality fuel is wreaking havoc on livelihoods. This is unacceptable in a country with abundant crude oil and refining potential”.

Speaking further they lamented the betrayal of Nigerians’ trust by the oil regulatory body, saying for decades, billions of dollars have been spent repairing refineries, with numerous promises of functionality. Yet, none of Nigeria’s refineries are operational today, and instead of supporting local refining, the NNPCL perpetuates a cycle of dependency on imports—stifling local initiatives and sabotaging job creation.

NICOCSO demanded that the government and the NNPCL must provide a comprehensive account of the $20 billion spent on refinery repairs since 2007. Adding that Nigerians deserve to know why their refineries remain dormant despite these enormous expenditures.

Moreso, that NNPCL must set and announce a clear start date for operations at Nigeria’s three major refineries, queried that the people of Nigeria, as the true owners of these refineries, deserve transparency and a commitment to deadlines.

NICOCSO said while the NNPCL argues against monopoly in the industry, it enjoyed monopoly privileges for decades adding that with policies that could encourage competition and local growth, the NNPCL must step up and support the operationalization of local refineries.

“If these demands are not met, NICOCSO will organize nationwide protests across Abuja and other states. Nigerians must rise to demand accountability, transparency, and policies that prioritize local industries”, they said.

NICOCSO argued that NNPCL’s decision to import PMS on this scale undermines national interest, weakens the economy, and delays the journey toward energy independence.

“NICOCSO remains committed to ensuring that public resources are used in the interest of the people, and we call on all Nigerians to join us in holding the NNPCL and its leadership accountable. Together, we can demand a better future for our nation”, the group said.

China, Peru build model for promoting mutual appreciation among diverse cultures

By Wang Di, Zhang Penghui, Xie Jianing, People’s Daily

China and Peru, both ancient civilizations with long histories and splendid cultures, are shining gems in the history of human civilization.

During a visit to Latin America in 2014, Chinese President Xi Jinping proposed hosting the 2016 China-Latin America Cultural Exchange Year, which received positive responses from the governments and people of Latin American countries.

In 2016, while paying a state visit to Peru, Xi attended the closing ceremony of the China-Latin America Cultural Exchange Year and visited the National Museum of Archaeology, Anthropology and History of Peru, where he visited the exhibition “Long Distance Separates No Bosom Friends – Treasures of China”.

He said we should continue to deepen cultural dialogues between China and Latin America so as to make mutual learning of civilizations become a bridge for enhancing bilateral friendship, a driving force for advancing the progress of human society and a bond of promoting world peace.

In recent years, cultural exchanges between China and Peru have become increasingly close. By jointly implementing the Global Civilizations Initiative, the two sides have elevated mutual cultural exchanges to new heights.

In valley of AndesMountainsin southeastern Peru, at an altitude of 3,400 meters, lies the ancient city of Cusco, the cradle of Inca civilization. Recently, an exhibition of “Light of the Sun: A Dialogue Between Ancient Shu and Inca Civilizations” was held at the Inca Museum in the city. It featured 16 representative replicas from the Sanxingdui Museum in Guanghan and the Jinsha Site Museum in Chengdu, southwest China’s Sichuan province, along with 3D printed artworks, as well as seven exquisite artifacts from the Inca Museum’s collection.

At the exhibition hall, a bronze vertical-eyed bronze mask unearthed at the site of Sanxingdui resonated with a large Inca Urpu vessel. There were also precious artifacts of the ancient Shu civilization such as gold items, bronze statues, jade artifacts, and wooden objects, as well as valuable relics from the Inca civilization. Visitors could closely experience the charm of the harmonious yet distinct ancient Shu and Inca civilizations, and the beauty of human civilization in unity.

Mohenir Julinho Zapata, director of the museum, expressed the hope that the exhibition will serve as a window into China’s cultural heritage for the people of Cusco, and deepen exchanges and mutual understanding between the two countries.

Since 2023, 80 artifacts from the Inca Museum have been showcased in Chinese cities like Xi’an and Chengdu, inviting Chinese audiences to engage with them.

In January this year, at the “Inca: Andean Civilization of Peru” special exhibition held in China, a golden mask from Peru’s Sicán culture was displayed alongside a golden mask unearthed from the Jinsha Site in Chengdu, each radiating its unique charm.

“The lively dialogue between the ancient Shu civilization and the Inca civilization serves as a model for promoting mutual appreciation among diverse cultures, fostering closer ties between the peoples of Peru and China,” said Zapata.

“We are committed to ensuring that this connection endures, so as to allow the light of civilization to shine brightly through exchange,” he added.

Technology makes soccer games intelligent

By Bai Guangdi, People’s Daily

In a recent international soccer match, the referee awarded a penalty kick for a handball in the penalty area. However, spectators noticed no change in the ball’s trajectory, and even high-speed camera replays failed to show anyfoul play by the defensive player. So what was the basis for the referee’s decision?

The ruling hinged on the application of a “connected smart soccer” technology. Technical analysis showed that sensors embedded within the ball detected vibrational waves, confirming hand contact from the defensive player.

The technology serves as a valuable tool for the Video Assistant Referee (VAR) system. When there are disputed calls, the smart sensors inside the ball can instantly relay what actually happened on the field, making referee decisions more reliable and easier to verify.

It is reported that many international soccer tournaments use high-tech ball bladders manufactured by Dingqi Sports Goods (Huai’an) Co., Ltd. in east China’s Jiangsu province. As a processing and trading enterprise specializing in the production of soccer, volleyball, basketball, and rugby ball bladders, the company pioneered the use of embedded chips in 2022.

“We’ve built a stable suspension system at the center of the ball with an embedded sensor containing a microchip. The sensor must be extremely secure to accurately capture data even during high-speed movements,” said Zhou Hongda, chairman of the company.

While installing a chip in a soccer ball might sound simple, the implementation poses significant challenges. The chip must be suspended exactly at the ball’s center without shifting its physical center of gravity; the total weight of the ball after sensor installation must not exceed FIFA’s official standards; and the chip must continue functioning normally after violent impacts. Zhou revealed that it took the company three years to overcome these technical hurdles.

Today, the “connected smart soccer” technology is being adopted in an increasing number of international soccer tournaments. “With events like the UEFA European Championship taking place, ball product exports have surged. In the first nine months of this year, we’ve exported over 6 million match and training balls,” Zhou said.

These increasingly intelligent soccer balls are making competitions more exciting than ever. “The smart soccer technology acts as a data collection terminal which, when combined with athletes’ wearable devices, can gather rich performance data,” said Pu Zhiqiang, a researcher at the Institute of Automation of the Chinese Academy of Sciences.

According to Pu, the institute has developed an intelligent soccer match analysis system that can be applied to various scenarios, including pass probability prediction and off-ball movement analysis.

Tournaments such as the Zhejiang youth soccer championship have adopted intelligent match analysis systems, using quantifiable and more science-based methods to help improve player performance and assist coaches with tactical planning.

Federal Government Urges Governors to Ramp Up Efforts to Eradicate Open Defecation in Five Years

The Federal Government has called on state governors to intensify efforts toward eliminating open defecation nationwide within the next five years. Vice President Kashim Shettima, represented by Deputy Chief of Staff Senator Ibrahim Hassan Hadejia, made this appeal during the 5th anniversary of the Clean Nigeria: Use the Toilet campaign in Abuja.

Shettima emphasized that ending open defecation would enhance public health, productivity, and dignity, particularly for vulnerable groups such as women and children. He highlighted the potential economic benefits of improved sanitation, including job creation, alternative energy sources, and the production of organic fertilizers.

“The new Strategic Plan for the Clean Nigeria Campaign provides a comprehensive framework to achieve universal toilet access by 2030,” he stated, urging governors to mobilize political and community support at state and local levels to meet the goal of an Open Defecation Free (ODF) Nigeria by 2025.

The Vice President warned of the public health risks posed by open defecation, including water contamination and the spread of diseases, stressing the administration’s commitment to Sustainable Development Goal 6.2, which focuses on adequate sanitation for all.

Minister of Water Resources and Sanitation, Prof. Joseph Terlumun Utsev, noted that Nigeria still has over 48 million people practicing open defecation despite progress made under the campaign. Since its launch in 2019, 135 Local Government Areas (LGAs) have been declared ODF, and over 30,000 communities have received certifications.

However, Prof. Utsev acknowledged that the progress remains insufficient to meet the campaign’s 2025 target. He reiterated the importance of nationwide advocacy and stakeholder collaboration to accelerate efforts.

Senator Eze Kenneth Emeka, Chair of the Senate Committee on Water Resources, praised the initiative, urging all stakeholders to stay focused on achieving the set goals.

The Clean Nigeria: Use the Toilet campaign continues to gain momentum as a transformative movement to end open defecation and improve sanitation across the country.

Kogi State Moves to Hold Landlords Accountable for Renting to Internet Fraudsters

The Kogi State Government has announced plans to address the issue of property owners renting to individuals involved in internet fraud, popularly known as Yahoo Boys.

Hon. Abanika Taiye, the Commissioner for Housing and Urban Development, disclosed this initiative during a press briefing in Lokoja on Tuesday. This comes ahead of a two-day stakeholders’ symposium on housing and urban development aimed at tackling challenges in the sector.

Expressing concern, Taiye accused some landlords of enabling criminal activities by renting properties to individuals with suspicious financial sources. To combat this, the government is drafting a new policy, now under review in the State House of Assembly, to regulate property rentals and hold landlords accountable.

“The government is working with stakeholders in the building sector to develop a comprehensive blueprint to guide housing provisions and enforce compliance,” Taiye said. The proposed law will set standards for property ownership and rental agreements to curb exploitation and enhance urban safety.

The ministry has also implemented measures to monitor property owners and ensure adherence to the law, aiming for a more secure and organized living environment for residents.

Abuja Residents Block Streets After Security Raid, One Feared Dead

Residents of Abuja’s Wuse Zone 5 have taken to the streets in protest following a security raid that targeted suspected drug dealers in the area. The demonstrations, which occurred on Mobassa Street, involved the burning of tyres and the blocking of major roads.

According to a local resident, the raid resulted in a gunshot, leaving one person seriously injured and possibly dead. The area, known for drug-related activities, has long attracted a significant number of visitors. The resident described it as a “notorious place for all kinds of drugs.”

In reaction to the incident, protesters ignited bonfires, using tyres to barricade the streets and express their dissatisfaction with the security operation. The situation remains tense as the community demands answers over the conduct and outcome of the raid.

Black Market Dollar to Naira Exchange Rate and Economic Concerns in Nigeria: November 20, 2024

1. Black Market Dollar to Naira Exchange Rate Today

As of Tuesday, November 19, 2024, the exchange rate in Lagos’ black market saw the U.S. Dollar trading for ₦1,738 for buying and ₦1,740 for selling. These figures come from sources within Bureau De Change (BDC) circles.

While the black market exchange rate reflects current street trading, the Central Bank of Nigeria (CBN) maintains an official rate of ₦1,674 for buying and ₦1,675 for selling. It’s important to note that the CBN does not officially recognize the black market, advising individuals to use licensed financial institutions for foreign exchange transactions.

2. Economic Impact of Current Monetary Policies: Calls for Change

During the 6th Quadrennial and 13th National Delegates Conference of the National Union of Shop and Distributive Employees (NUSDE) in Ibadan, organized labor leaders urged President Bola Ahmed Tinubu to reconsider the country’s floating currency policy and recent increases in energy prices.

Aminu Megbontowon, President of NUSDE, expressed deep concerns over the adverse impact of rising energy costs and fluctuating currency values on Nigerian workers and businesses. He criticized the current price of petroleum, which has surged to over ₦1,000 per liter, alongside electricity tariffs that have escalated from ₦68 to ₦227.

These changes, according to Megbontowon, are untenable for an oil-rich nation where purchasing power is severely constrained. He warned that these policies are driving more Nigerians into poverty, leading to widespread job losses and business closures.

Stay updated for more insights on Nigeria’s economic situation and currency exchange movements.

Nigerian Daily Update: Key News Headlines for Wednesday, November 20, 2024

Good morning, Nigeria. Here’s a summary of the top news stories making waves across the country today, Wednesday, November 20, 2024.

1. President Tinubu Requests ₦1.767 Trillion Loan to Address Budget Deficit

President Bola Tinubu has reached out to the National Assembly, seeking approval for an external loan of ₦1.767 trillion to cover part of the ₦9.7 trillion deficit in the 2024 budget. In addition, he submitted the Medium-Term Expenditure Framework (MTEF) for 2025-2027, outlining future economic plans.

2. Opposition to Tinubu’s Tax Reforms Rooted in Misunderstanding, Says Agbese

Philip Agbese, Deputy Spokesperson of the House of Representatives, criticized those opposing President Tinubu’s tax reform proposals, suggesting they have not studied the bill thoroughly. He emphasized the reform’s benefits for the country, advocating for fairness and equity.

3. Federal Government Expands NYSC Posting Options to Include Private Sector

The Federal Government has removed restrictions on National Youth Service Corps (NYSC) deployments, allowing members to work in private companies, including banks and oil firms. The policy shift is aimed at tackling youth unemployment and preparing graduates for the job market.

4. Sultan of Sokoto Rejects Claims of Intimidation by State Governors

Sultan Sa’ad Mohammad Abubakar II has refuted suggestions that traditional rulers fear state governors. He stressed that the respect for governors shouldn’t be seen as intimidation, underscoring the enduring significance of traditional institutions in Nigeria’s history and governance.

5. Tinubu Seeks to Enhance Social Welfare with New Amendment Bill

President Tinubu has sent the National Social Investment Programme Amendment Bill to the National Assembly. The amendment aims to make the National Social Register the main tool for targeting vulnerable groups, ensuring efficient delivery of welfare services.

6. Terrorists Deploying IEDs to Destabilize Communities, Warns General Laka

Maj.-Gen. Adamu Laka, head of the National Counter Terrorism Centre, highlighted the growing use of Improvised Explosive Devices (IEDs) by terrorists to cause chaos. He emphasized ongoing training efforts to improve counter-terrorism readiness.

7. Delta SSG Defends Former Governor Okowa Amid EFCC Scrutiny

Kingsley Emu, Secretary to the Delta State Government, defended former Governor Ifeanyi Okowa against allegations of financial misconduct. He claimed the accusations were politically motivated, aiming to tarnish Okowa’s image before the 2027 elections.

8. PDP’s Ladi Adebutu Dismisses DSS Accusations as ‘Baseless’

Ladi Adebutu, the PDP’s 2023 Ogun State governorship candidate, has described his recent detention by the Department of State Services (DSS) as politically driven. He reiterated his stance on local government autonomy, calling it crucial for development.

9. Tompolo Accuses Powerful Figures of Hindering Oil Theft Crackdown

Tantita Security Services’ Chairman, Government Ekpemupolo (Tompolo), has expressed frustration over obstacles in combating oil theft. He accused some Navy personnel of collusion and urged support for President Tinubu’s economic reforms.

10. Senator Ibrahim Backs Tinubu’s Borrowing Plans, Suggests Larger Loans

Senator Jimoh Ibrahim has endorsed President Tinubu’s borrowing strategy, advocating for an even larger loan above $50 billion to fund infrastructure projects. He referenced Dubai’s development as a successful model for strategic borrowing.

Stay tuned for more Nigerian news updates tomorrow on Nigeria Times News.

Confusion Over Tinubu’s Spokesperson Role as Bwala and Onanuga Make Conflicting Claims

Dispute Over Presidential Communication Team Roles

The Nigerian presidency has been caught in a wave of confusion following recent announcements regarding the official spokesperson for President Bola Ahmed Tinubu. On Monday, Daniel Bwala, the Special Adviser on Policy Communications, declared himself as the presidential spokesman—a role previously held by Ajuri Ngelale.

Bwala’s Announcement

During a briefing with State House correspondents, Bwala mentioned that he had assumed the position formerly occupied by Ngelale, asserting his new status as the primary voice for the President’s communications. He emphasized that his main objective was to promote Tinubu’s agenda, downplaying any potential rivalry or ambiguity regarding roles within the administration.

Bwala stated, “There is no confusion regarding responsibilities; each person knows their specific duty. My focus is to support the President’s mandate without overshadowing anyone.”

Onanuga’s Response

However, the announcement sparked a reaction from Bayo Onanuga, the Special Adviser on Information and Strategy, who countered Bwala’s claim later that evening. Onanuga clarified that President Tinubu does not have a single spokesperson, highlighting a shift from previous practices.

In his statement, Onanuga revealed that the President had reorganized his communication team to include three spokespersons instead of just one, enhancing the efficiency and clarity of government messaging. He further explained that Bwala’s role had been redefined as Special Adviser on Policy Communications, not Media and Public Communications, which had initially been assigned to him.

Changes in Media Roles

Onanuga outlined the revised positions within Tinubu’s media team:

  1. Sunday Dare – Now Special Adviser on Media and Public Communications, previously focused on Public Communication and National Orientation.
  2. Daniel Bwala – Reassigned to Special Adviser on Policy Communications.

Onanuga emphasized that this new structure ensures that all three Special Advisers—Dare, Bwala, and himself—will function collectively as spokespeople for the presidency. The objective is to maintain a unified and effective communication strategy for conveying government policies and decisions.

Largest Media Team in Nigerian History

Naija News reports that President Tinubu has assembled an extensive media team, regarded as the largest in Nigeria’s history. The team includes over a dozen political appointees, excluding the civil servants who traditionally handle communication duties.

Stay updated with Nigeria Times News for further developments on Nigeria’s political landscape and communication dynamics within the presidency.

Senate Launches Probe into ₦105.7 Billion Financial Irregularities by Federal Agencies

Senate’s Investigation into Financial Misconduct

The Nigerian Senate has initiated a thorough investigation into financial discrepancies involving federal government agencies, amounting to ₦105.66 billion. This probe follows concerns raised by the Auditor General of the Federation regarding improper financial practices.

Details of the Allegations

In his recent annual report on the financial operations of public institutions, the Auditor General highlighted significant irregularities within federal ministries, departments, and agencies (MDAs). The report, currently under review by both the Senate and the House of Representatives, indicates that these entities violated financial guidelines, leading to the unauthorized expenditure of ₦105.66 billion.

Senate’s Response

The Senate has vowed to conduct a strict and comprehensive inquiry into these infractions, emphasizing the need for accountability and adherence to established financial rules. Lawmakers have expressed concern over the frequency of financial mismanagement in government institutions, insisting that corrective measures must be implemented to prevent future violations.

As the investigation unfolds, the Senate has pledged to hold all responsible parties accountable and ensure that corrective actions are taken to strengthen the oversight of public funds.

Stay with Naija News for updates on the Senate’s investigation into financial misconduct within Nigeria’s federal agencies.