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Government Declares NNPC Lacks Funds to Rebuild Aging Pipelines

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Government Declares NNPC Lacks Funds to Rebuild Aging Pipelines....KINDLY READ THE FULL STORY HERE▶

The Federal Government of Nigeria has officially stated that the Nigerian National Petroleum Company Limited (NNPC) does not possess the necessary funds to reconstruct its outdated pipelines. This declaration was made by the Minister of State for Petroleum Resources, Heineken Lokpobiri, during the recent Energy and Labour Summit 2024 in Abuja, organized by the Petroleum and Natural Gas Senior Staff Association of Nigeria.

While addressing the urgent need to address the divestment of international oil companies and enhance production levels, Lokpobiri highlighted the critical condition of Nigeria’s pipelines. He emphasized that many of these pipelines, built in the 1960s and 1970s, are now old, corroded, and beyond their lifespan.

“Even if we can produce more than 1.7 million barrels of crude oil, the challenge lies in transporting it to the terminals,” Lokpobiri noted. He pointed out that the deteriorating state of these pipelines makes them vulnerable to vandalism, as they are easy targets for theft and damage due to their age and condition. “The pipelines are completely corroded, making it simple for anyone to tap into them,” he explained.

According to Lokpobiri, although more advanced and expensive pipeline technologies exist, the NNPC currently lacks the financial resources to implement these upgrades. “I don’t think NNPC has the money to replace these pipelines,” he stated. To address this issue, he called for public-private partnerships (PPP) to attract private sector investments, which he believes are essential for revitalizing Nigeria’s oil infrastructure.

Building Investor Confidence

Lokpobiri emphasized the importance of restoring investor confidence in Nigeria, which he claims has been lacking for the past 12 years. “When this government came into power, we worked to rebuild that confidence, and investors are beginning to return,” he said.

He further discussed the issue of fuel smuggling, attributing it to the fact that NNPC imports fuel and sells it below the market cost. “Nigeria plays a critical role in the energy security of Africa, which is why our imported products often find their way into neighboring countries,” he stated, noting that the pricing structure is a significant factor in fueling smuggling operations.

Lokpobiri also addressed the challenges of supplying crude oil to local refineries, including Dangote. He expressed concerns that unless production increases, local refineries may face shortages. “Our goal is to ramp up production, as this is crucial for the success of midstream and downstream operations,” he explained.

Support for Local Refineries

The minister reaffirmed the government’s commitment to supporting local refining efforts by ensuring an adequate supply of crude. “Supporting local refining is essential. We will seek investors to explore and extract this crude to meet our domestic needs while also generating revenue through exports,” Lokpobiri said.

He pledged that the Federal Government would foster a competitive environment for both large and small refiners, ensuring fairness in the market. “Healthy competition is vital for the industry’s growth, and we will provide the necessary support for all refiners operating in Nigeria,” he concluded.

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“I Have Jonathan’s Certificate Of Return!” – Agbedi Drops Shocking Political Claim.

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Fredrick Agbedi, a House of Representatives member representing Bayelsa State, has called on Nigerians to applaud the Peoples Democratic Party (PDP) for encouraging former President Goodluck Jonathan to make a political comeback. During an appearance on Arise Television’s morning show this Wednesday, Agbedi maintained that Jonathan holds the full right to seek the presidency in 2027.....KINDLY READ THE FULL STORY HERE▶

Regarding the former president’s potential candidacy, Agbedi remarked:

  • The PDP has repeatedly discussed Jonathan’s potential run, and the internal processes are nearly finished.

  • He is currently in possession of the official Certificate of Return, which is intended for presentation to Jonathan.

  • Given Jonathan’s track record of “credible transformation” during his tenure, Agbedi argued that citizens should support the PDP’s efforts to nominate him as a solution to Nigeria’s current challenges.

  • Emphasizing the spirit of national service, Agbedi questioned the opposition to Jonathan’s potential return, asking where else a dedicated leader should serve if not for the betterment of his own country.

  • He confirmed that should Jonathan choose to run, it would be under the banner of the PDP.

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“Oborevwori Ran To APC Because I Am A Threat”: Omo-Agege Drops Political Bombshell.

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Former Deputy Senate President Ovie Omo-Agege recently alleged that Delta State Governor Sheriff Oborevwori joined the All Progressives Congress (APC) from the Peoples Democratic Party (PDP) due to fears regarding electoral competition. Speaking on Arise Television’s The Morning Show on Wednesday, Omo-Agege claimed the Governor’s decision was motivated by political survival rather than ideological alignment. The former senator specifically asserted, “Oborevwori chickened out from the PDP to the APC because I am a threat” in anticipation of the 2027 elections.....KINDLY READ THE FULL STORY HERE▶

Highlighting the APC’s performance during his leadership in the 2023 elections, Omo-Agege noted that the party secured two of the three senatorial seats in Delta State. He further emphasized his influence by pointing out his victory in Delta Central, where he claimed to have defeated the governor’s candidate by a margin of roughly 15,000 votes. Omo-Agege also attributed the recent wave of defections from the PDP to the APC to his post-election mobilization efforts across the state. Despite the Governor’s shift in party affiliation, Omo-Agege expressed confidence in his political influence and remains certain of his electoral base leading into 2027.

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Owo Church Massacre: Four Sentenced To Death By Hanging In Landmark Terror Verdict.

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Ondo State Governor, Lucky Aiyedatiwa, has expressed his support for the court ruling that sentenced four individuals to death for their participation in the June 5, 2022, attack on St. Francis Catholic Church in Owo. Through his spokesperson, Ebenezer Adeniyan, the Governor affirmed that this verdict proves justice will ultimately prevail against those who harm innocent people.....KINDLY READ THE FULL STORY HERE▶

The ruling was delivered by Justice Emeka Nwite of the Federal High Court in Abuja, following a terrorism case initiated by the Department of State Services (DSS). Governor Aiyedatiwa characterized the decision as a triumph for the rule of law and a moment of relief for the families impacted by the tragedy. He further praised the judicial and investigative teams for their dedication to bringing the perpetrators to account.

Highlighting the state’s stance against violence, the Governor stated, “This judgment sends a strong message that those who take innocent lives will face the full weight of the law, regardless of how long it takes to secure justice”. He also lauded the Owo community and the Catholic Church for maintaining peace throughout the difficult aftermath.

While acknowledging that the court’s decision cannot replace the lives lost, Aiyedatiwa noted that it provides some closure to the grieving families and bolsters faith in the justice system. Finally, he pledged his administration’s continued partnership with security agencies to enhance public safety and prevent future occurrences, while offering prayers for the victims and their families.

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