South Korean Investors to Build Four Refineries in Nigeria – FG

The Federal Government of Nigeria announced that a consortium of South Korean investors is planning to construct four refineries in various locations across the country. The refineries will each have a capacity of 100,000 barrels per day. This was disclosed by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, during the maiden summit of the Crude Oil Refineries Owners Association of Nigeria in Lagos.

Lokpobiri stated that the government is actively encouraging private sector investment in refining capacity through public-private partnerships, aiming to foster growth in both the midstream and downstream sectors of the oil and gas industry. The minister explained that the government had recently granted approval to invite the South Korean consortium to Nigeria as part of efforts to boost the country’s refining capabilities.

The minister further emphasized that the government’s goal is to ensure energy security by supporting modular refineries and new mega refineries. Lokpobiri noted that the Nigerian Upstream Petroleum Regulatory Commission has developed guidelines to ensure transparency in the industry and to guarantee local refineries have access to domestic crude oil supplies.

Additionally, the government is offering tax exemptions and import concessions on refinery equipment to stimulate investment, aiming to make Nigeria a petroleum refining hub for Africa. Lokpobiri also highlighted the importance of addressing crude oil theft and illegal refining through the establishment of an international emergency committee focused on refining solutions within the country.

This development is part of Nigeria’s broader strategy to achieve self-sufficiency in petroleum refining and reduce reliance on imports.

Dangote Urges FG to End Crude Oil Mortgaging Practices

Aliko Dangote, President of Dangote Group, has called on the Federal Government to cease crude oil-for-loan agreements, stressing the importance of preserving Nigeria’s future wealth. Speaking at the Crude Oil Refinery Owners Association of Nigeria Summit in Lagos, represented by Executive Director Engr Mansur Ahmed, Dangote emphasized that the country must stop mortgaging its oil resources in exchange for loans.

He pointed to the example of countries like Norway, which invest oil revenues into national wealth funds for future generations, urging Nigeria to follow a similar approach rather than spending future proceeds today.

This statement follows the African Export-Import Bank’s disbursement of $3.175 billion to the Nigerian government as part of a crude-for-loan agreement through the Nigerian National Petroleum Company Limited (NNPCL) in June 2024.

Dangote Refinery Built Without Government Funds

During the same summit, Dangote also highlighted that his 650,000 barrels-per-day capacity refinery was constructed without financial support from the Nigerian government. The $20 billion facility, which began operations in January 2024, now meets the country’s demand for diesel and jet fuel. By the end of September 2024, the refinery’s production capacity increased from 300,000 to 400,000 barrels per day.

Since mid-September, the Nigerian National Petroleum Company Limited has been the sole distributor of the refinery’s petrol output, further reducing the country’s dependence on imported refined petroleum products despite being Africa’s largest crude oil producer.

Covenant University Tops THE 2024 Rankings for Nigerian Universities

Covenant University (CU) has emerged as Nigeria’s leading university in the 2024 Times Higher Education (THE) Rankings. This annual evaluation assesses global institutions across various criteria, with CU claiming the top spot nationally. The ranking includes 1,907 institutions from 108 countries, based on teaching quality, research environment, industry collaboration, and international outlook.

In the 2024 edition, CU and the University of Ibadan (UI) were ranked within the global 800-1000 range. Other notable Nigerian universities include the Federal University of Technology Akure, the University of Lagos, and Bayero University.

Top 10 Nigerian Universities (THE 2024 Rankings)

  1. Covenant University
  2. University of Ibadan
  3. Federal University of Technology Akure
  4. University of Lagos
  5. Bayero University
  6. University of Ilorin
  7. University of Nigeria, Nsukka
  8. Afe Babalola University
  9. University of Benin
  10. Federal University of Agriculture, Abeokuta

Internationally, the University of Oxford maintained its first-place position for the ninth consecutive year. Stanford University climbed to second, while Harvard University dropped to fourth place.

The THE Rankings offer insights into university performance globally, helping prospective students and policymakers compare institutions based on comprehensive data, including research quality and academic reputation.

Bandits Kill Kebbi District Head, Police Rescue Eight Others

In a distressing incident, bandits have killed the District Head of Kanya, Alhaji Isah Daya, who was abducted in Kebbi State along with eight others on October 6. The Kebbi State Police Public Relations Officer, SP Nafi’u Abubakar, confirmed the district head’s death in a statement issued on Tuesday in Birnin Kebbi.

Despite the tragic loss, law enforcement, military, and vigilante groups successfully rescued the other eight abductees during an armed confrontation with the kidnappers in Sakaba forest. SP Abubakar noted that the rescue operation took place at around 10:00 a.m. on Tuesday, with all eight victims found unhurt. They have since been reunited with their families after receiving medical check-ups at General Hospital, Sakaba.

Sadly, while the search and rescue operations were ongoing, Alhaji Isah Daya’s body was discovered in the forest.

The Commissioner of Police, Alhaji Bello Sani, extended his condolences to the family, the Zuru Emirate, and the Kebbi State Government. He prayed for Allah to forgive the district head’s shortcomings and grant him eternal peace in Jannatul Firdaus.

Authorities have urged the public to provide any information that may help bring the perpetrators of this heinous crime to justice.

Matawalle Returns To Sokoto, Vows To Flush Out Bandits, Terrorists

Bello Matawalle, the Minister of State for Defence, has reaffirmed the government’s commitment to eliminating bandits, terrorists, and other criminal elements in the Northwest region of Nigeria. Speaking to reporters in Sokoto State on Wednesday, Matawalle outlined his plans to coordinate security efforts as directed by President Bola Tinubu.

Matawalle stated, “I am back in Sokoto state to coordinate this assignment of flushing all bandits and other criminals.” He reported some progress, noting that security forces had successfully eliminated notorious gang leaders and their members, leading to a relative peace in Sokoto, Zamfara, and Katsina states.

He expressed optimism about the ongoing operation, dubbed Fansan Yamma, which aims to combat criminal activities in the Northwest. “Our gallant troops will sustain the strides and continue to record success,” he added.

Assuring the residents of the Northwest that they would not be abandoned, Matawalle praised the efforts of security forces in combating the threat of banditry. “We will never leave you alone, and be assured that we will win this war against bandits and those supporting them,” he said.

The minister emphasized the federal government’s commitment to boosting the morale of military and security personnel, commending their sacrifices in the fight against insecurity. He highlighted the importance of collaboration among all stakeholders to achieve total success, stating, “We must collaborate together to bring these bandits down through the use of kinetic and non-kinetic methods to crush them entirely.”

Matawalle also reassured the public that the government would remain resolute in its efforts, stating, “We will never be intimidated, rest, or give the criminals breathing space. We must stop them from moving freely, no matter how they blackmail or spread propaganda against our operations.”

This renewed focus on tackling insecurity follows Matawalle’s visit to Sokoto in September, along with the Chief of Defence Staff, General Christopher Musa, as part of the federal government’s strategy to confront the persistent threat of banditry in the region.

Rivers People Have Decided To Move On With Fubara’ – PDP Lashes Out At Wike

The Rivers State chapter of the Peoples Democratic Party (PDP) has condemned the Minister of the Federal Capital Territory, Nyesom Wike, for his recent criticisms regarding the local government elections in the state. Wike, during an interview on Channels TV, accused Governor Siminialayi Fubara of being the cause of the ongoing political turmoil in Rivers State, particularly criticizing Fubara’s decision to proceed with the elections despite a court ruling against it. He expressed concern that ignoring court verdicts could lead to anarchy.

In response, Sydney Gbara, the PDP publicity secretary in Rivers State, expressed disappointment at Wike’s change of stance, stating that those who once advocated for the election are now opposing it. Gbara asserted that Fubara did nothing wrong by conducting the elections and encouraged those unhappy with the results to seek legal recourse.

Gbara emphasized that no court ruling can halt an electoral process and pointed out that the decision to conduct the local government elections aligns with President Bola Tinubu’s 2023 peace proclamation, which included conducting elections in various states. He recalled that Wike and his supporters had previously urged the state assembly to ensure elections were held, even threatening impeachment if Fubara failed to comply.

He stated, “This is where the conversation should start from and not whether there was a court judgment or not.” Gbara argued that Governor Fubara’s actions are in line with the Supreme Court’s directive to ensure that every state has elected local government chairmen, adding that Fubara is upholding democracy in Rivers State.

He also condemned the violence that had occurred during the electoral process, highlighting that some individuals resorted to extreme measures to disrupt it. “The truth is that they came late because Rivers people have decided to move on with Fubara,” he concluded, reinforcing Fubara’s position as a champion of democracy in the state.

‘We Cannot Buy Oil From Dangote Refinery’ – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asserted that its members are still unable to purchase oil directly from the Dangote Refinery. In a recent interview, IPMAN Chairman Abubakar Maigandi clarified that they continue to rely on the Nigerian National Petroleum Company Limited (NNPCL) for their oil supplies.

Maigandi stated that despite earlier reports suggesting the termination of NNPCL’s exclusive offtake agreement with the Dangote Refinery, the situation remains unchanged. He emphasized that the NNPCL still holds the exclusive right to purchase oil products from Dangote, while IPMAN members operate primarily in a retail capacity.

“There is no official confirmation that the NNPCL has ceased its role as a middleman in purchasing oil from the refinery,” Maigandi told BBC Hausa. He added that the NNPCL had recently requested IPMAN to send their tankers to the refinery for oil lifting, which they complied with by submitting the necessary waybills.

Maigandi highlighted ongoing discussions with Dangote Refinery leadership to facilitate future lifting operations. He reiterated that, at present, IPMAN members cannot directly buy oil from Dangote and must continue to source their products through the NNPCL.

Bandit Leader Bello Turji Calls for Negotiated Surrender Amid Intensified Government Offensive

In a surprising development, notorious bandit leader Bello Turji has requested negotiations for surrender. The move comes after a series of successful operations by Nigerian security forces, which have decimated his ranks. These operations, led by the Department of State Services (DSS) and the National Intelligence Agency (NIA), have eliminated at least 76 bandit commanders and key allies of Turji.

The intensified offensive against banditry follows the restructuring of Nigeria’s intelligence agencies under President Bola Tinubu, with the appointment of Mr. Adeola Oluwatosin Ajayi and Mr. Mohammed Mohammed as the new heads of the DSS and NIA. Their leadership has led to significant disruptions in the communication and operational networks of bandits in the North West and North Central regions.

Among the notable operations, several high-profile bandits, including Kachalla Lawali Dodo, Kachalla All Dan Oga, Kachalla Black, and Kachalla Sani Kwalba, have been neutralized. Security forces have also intercepted large arms caches and dismantled critical terrorist camps in states such as Kaduna, Kogi, and Niger.

The DSS’s new intelligence-driven strategies have weakened Turji’s influence, pushing him to seek negotiations as his operational capabilities dwindle. While the government has not yet confirmed whether they will engage in talks with Turji, the ongoing offensive indicates that Nigerian security forces are making considerable inroads into bandit-held territories.

With intensified pressure from the government, bandits and other criminal elements appear increasingly cornered, raising hopes for a reduction in violence in the region.

Major Marketers to Begin Direct Purchase of Petrol from Dangote Refinery as NNPC Withdraws as Sole Off-taker

Major oil marketers in Nigeria are set to begin purchasing petrol directly from the Dangote Petroleum Refinery as the Nigerian National Petroleum Company Limited (NNPCL) pulls out as the exclusive off-taker of the product. This development, expected to take effect between Thursday and next week, marks a significant shift in the country’s fuel distribution.

Sources from both NNPCL and the Major Energy Marketers Association of Nigeria (MEMAN) confirmed that the decision allows other players in the downstream sector to directly access products from the $20 billion Dangote Refinery. Previously, NNPCL was the sole buyer of petrol from the refinery, shouldering subsidies estimated at N3.3 billion daily.

This shift likely signals the complete removal of petrol subsidies by the Federal Government, which had been under pressure to reduce its financial burden. On Tuesday, oil marketers received formal notification to stop buying through NNPCL and approach the Dangote Refinery directly.

While the directive has been issued, major marketers have yet to begin loading petrol from the refinery. As of now, no official prices have been released by the Dangote Refinery, though price hikes are anticipated. Industry insiders expect the price of petrol to increase significantly, with estimates suggesting a possible rise to over N1,000 per litre in some locations.

The move away from subsidized petrol means that prices will now be determined by market forces, leading to potential cost increases nationwide. This change could take full effect as early as next week, with marketers still awaiting official pricing information from Dangote.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Ukadike Chinedu, has advised Nigerians to brace for a rise in fuel prices, though there is hope that the sale of crude in naira may bring some relief to consumers.

Sporadic Shooting Erupts as Ikwerre LG Chairman Reclaims Burned Secretariat Amid Tensions

Newly elected Ikwerre Local Government Chairman, Israel Abosi, has successfully reclaimed the council secretariat in Isiokpo just hours after it was set on fire by unknown arsonists. Accompanied by his deputy, councillors, and a large group of supporters, Abosi made a bold entrance into the secretariat, backed by vigilante members who fired shots into the air as a show of strength.

The group chanted messages of solidarity, signaling their determination to overcome acts of violence and intimidation. “We will not be intimidated by acts of violence,” Abosi declared, emphasizing his commitment to serving the people of Ikwerre and advancing the local government.

The attack on the newly constructed council secretariat came after the withdrawal of police officers who had been securing Rivers State’s 23 council secretariats, leaving them vulnerable. The Emohua Local Government Council secretariat was also set ablaze in a related incident, with youths protesting and blocking access, chanting in support of FCT Minister Nyesom Wike, and opposing the new chairman David Omereji from assuming office.

Tensions remain high in the area as local authorities work to restore order.