Connect with us

Business & Economy

Senate sets up Ad-hoc C’ttee to investigate importation of adulterated diesel into Nigeria

Published

on

By George Mgbeleke (Abuja)

Senate has  set up an Ad-hoc committee to investigate importation of adulterated diesel and fuel into the country to undermine the economic prosperity of the country.

Senate President Godswill Akpabio who announced the 15-man committee appointed the Senate Leader, Opeyemi Bamidele (Ekiti Central) as the chairman.

Senate decision to set up the Ad-hoc committee was sequel to adoption of a motion on “Need to investigate the continued importation of Hazardous Petroleum Products and dumping of substandard Diesel into Nigeria” sponsored by Senator Asuquo Ekpeyong (Cross River South).

Senator Ekpeyong noted with deep concern the continued importation of hazardous petroleum product and dumping of substandard diesel into the Nigeria;

He observed that on 16th June, 2024, it was reported that 12 diesel cargoes, conveying a total of 660kt of diesel was exported by refineries to offshore Lome, Togo for further distribution to West African markets, mainly Nigeria;

“Also notes that the quality of the said diesel is below the Nigerian standard in terms of flash and Sulphur levels. However, in spite of the substandard nature of the diesel, it still finds its way into the Nigerian markets, as a track on Mt “Kallos” which arrived Lome on the 16th of June, which immediately did ship-to-ship (STS) transfer to DV MT (Matric Triumph” and then proceeded to discharge into Matric Jetty in Warri on 21st June, 2024. Thereafter, another STS was made to DV MT “Matric Pride”, which then proceeded to discharge into Obat Oil terminal on 22nd June, 2024;

He noted that the “diesel is priced below fair market value, which constitutes dumping on the World Trade Organisation (WTO) rules, which stipulates that countries are permitted to take measures to protect their local industries in the event of dumping. The WTO also recognises the impact of dumping on domestic industries, and therefore stipulates tariff regimes, such as anti-dumping duties and import restriction measures to ensure that domestic producers are not unfairly disadvantaged;

“Aware that even though the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has recently revised the standards of diesel importation into Nigeria in line with the Petroleum Industry Act, 2021, it is apparent that they are incapable of enforcing compliance with the standards;

“Also aware that NMDPRA has persistently continue to issue import licenses for diesel and jet, despite sufficient local production capacity. Therefore, the best also option for protecting Nigerians and our local refineries against dumping is to place a total ban on the importation of diesel in so far as our local refineries can meet the Nigerian demands;

“Further aware that the said ban on importation of diesel will be beneficial to the Nigerian petroleum Industry and indeed the entire nation, and as such, the NMDPRA should cease to issue import licenses in order to address all concerns. However, if the situation is allowed to continue, local production will have no option than to stop the commissioning of gasoline units and shutdown refineries until regulatory environment improves. This is against the backdrop that local production has been able to sell on 20kt of jet fuel in the last 3 months, relative to local demand of 180kt over the same period”.

Contributing to the motion, Senator Solomon Olamilekan (Ogun West), chairman Senate Committee on Appropriation expressed disappointment with the operation of if the Petroleum Industry Act (PIA) by some government officials in the petroleum and gas sector, adding that “heads must roll” as the upper chamber hopes to carry out a major reform.

According to the Ogun West senator, “there are some information we can’t share here”.

The Senate Chief Whip, Ali Ndume in his contribution, said Dangote has complained loudly that if he had known the problems that he was going to encounter, he wouldn’t have started the Dangote Refinery as he is being frustrated locally in addition to that of the international oil companies (OIC).

He said the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issues licences to import adulterated foreign diesel deliberately to put Dangote out of business, adding that the Ad-hoc committee should find out why Dangote Refinery is forced to sell its diesel outside the country while toxic diesel is imported into Nigeria at the same time.

The Senate after thorough debate on the motion on urgent national importance, accordingly resolves to set up an Ad-Hoc Committee to “Examine the pre-shipment and pre-discharge standard test parameters, adopted by the Nigerian Midstream and Downstream Regulatory Authority, with a view to uncovering loopholes, if any, exploited to get toxic cargoes into the country”.

Other prayers of the motion, which now forms the terms of reference for the Ad-hoc committee are as follow:

“Determine the level of compliance of the NNPCL’s Direct Sale and Direct Purchase (DSDP) arrangements in line with the provisions of the Petroleum Industry Act, including the extent of transparency and accountability in the scheme;

“Beam legislative searchlight on the activities of the Petroleum Equalisation Fund, including payments made to transporters in the last 10 years;

“Enquire from the NNPCL the state/status of the 22 Depots built by the NNPC to eliminate road distribution of petroleum products;

“Engage with stakeholders within the oil and gas industry with a view to identifying possible gaps in regulating and strengthening the surveillance and monitoring structures in place to enable Nigeria detect violations of best practice standards in the importation of products before they enter into domestic supply chains;

“Also engage with the NNPCL with a view to understanding the extent of its determination and timelines for the start-up of Government funded oil refineries; and

“Investigate how institutions across the importation and distribution chain failed to conduct quality sampling, shipped in products without auditing, port validations by the Nigerian Customs Service; Department of Petroleum Resources (DPR); National Maritime Authority (NMA); and Standard Organisation of Nigeria (SON)”.

Members of the committee include Senators Asuquo Ekpeyong (Cross River South), Abdullahi Yahaya (Kebbi ), Tahir Monguno (Borno North), Solomon Olamilekan (Ogun West), Diket Plang (Plateau South), Ipalibo Banigo (Rivers West), Saliu Mustapha (Kwara Central), Adams Oshiomhole (Edo North), Adetekumbo Abiru (Lagos East), Osita Izunaso (Imo West), Sahabi Ya’u (Zamfara North), Abdul Ningi (Bauchi Central).

The committee has three weeks to submit its report before the Senate proceeds on its annual recess at the end of July, 2024.

Business & Economy

Senate Confirms Mukhtar, Gamawa RMAFC

Published

on

By

Abdullahi Mukhtar(right)and Amina Gamawa (left)

By George Mgbeleke

To ensure effective service delivery in the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), the Senate has confirmed Abdullahi Mukhtar and Amina Gamawa as Commissioners representing Kaduna and Bauchi states respectively in the Commission.

The Senate made the confirmation following
Senate’s consideration of the report of its Committee on National Planning and Economic Matters during plenary at the National Assembly Complex, Abuja.

Senator Augustine Akobundu, who represents Abia Central Senatorial District, stood in for the Chairman of the Committee, Senator Musa Mustapha, and moved the motion for consideration and approval of the nominations.

Presenting the Committee’s report, Akobundu, who represents Abia Central Senatorial District, told the Chamber that the nominees are competent and qualified for the job for which they were nominated by President Bola Tinubu.

During the screening of Mukhtar on Tuesday by the Committee on National Planning and Economic Matters, members of the Panel observed that he had made several appearances to the Senate for confirmation in his previous appointments.

For instance, when Abdullahi Mukhtar, who is a former Chairman of the National Hajj Commission of Nigeria (NAHCON) was appointed under the administration of the late President Muhammadu Buhari, he was screened and confirmed by the Senate.

Therefore, the Committee argued that since he was found worthy by the Senate to serve Nigeria in that capacity and other capacities, there was no need to subject him to rigorous interrogation.

A member of the Committee, Senator Osita Izunaso, therefore, moved a motion that he should be granted the honour to take a “bow and go”, a request that was overwhelmingly adopted by members and he took a bow and left.

“Mr Chairman and Distinguished colleagues, in line with our tradition, the nominee before us for the position of Commissioner, Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), is well known to us, having screened him in the past for some other very important positions like Chairman, National Hajj Commission of Nigeria (NAHCON).

Following Senate procedure, Senate President Godswill Akpabio referred the confirmation process to the Committee of the Whole. The appointments were put to a voice vote and approved by Senators.

After the confirmation, Akpabio advised the new appointees on the importance of their offices, stressing the need for them to live up to expectations and discharge their duties with diligence.

President Bola Tinubu had written the Senate seeking the confirmation of the two nominees to serve as Commissioners in the Revenue Mobilization Allocation and Fiscal Commission in accordance with Section 154(1) of the 1999 Constitution (as amended).

This request was referred to the Senate Committee on National Planning and Economic Affairs, with a mandate to report back to the Red Chamber within one week.

President Tinubu in his letter, emphasized that these appointments are critical for the continued transparency and efficiency of federal agencies.

Continue Reading

Business & Economy

Niger State Moves to Sanitize Mining Sector, Tackles Illegal Activities

Published

on

By

Muhammad Qasim Danjuma

BY UTHMAN BABA-NASEER,MINNA

The Niger State Government has reaffirmed its commitment to reforming and regulating the mining sector to boost economic growth and protect local communities.

The Commissioner for Mineral Resources, Muhammad Qasim Danjuma stated this during an interview with journalists, where he highlighted ongoing efforts to address illegal mining and attract genuine investors into the state.

Danjuma described Niger State as one of the most blessed in Nigeria in terms of mineral deposits, noting that proper management of these resources could significantly improve the state’s economy and infrastructure.

According to him, “Niger State has witnessed several administrations since its creation in 1976, but the current era is bringing remarkable transformation across all the 25 local government areas, especially in infrastructure development.”

The Commissioner commended the leadership of Governor Mohammed Umar Bago, describing his emergence as a “divine opportunity” for the people of the state. He said the administration has demonstrated strong commitment, dedication, and visible development projects, unlike previous governments that made promises without delivering.

Speaking in the mining sector, Danjuma explained that the Ministry of Mineral Resources was created in 2017 after being separated from the Ministry of Environment. Since then, efforts have been made to reposition the sector for better performance.

He, however, identified illegal mining as a major challenge affecting the sector. According to him, many individuals and groups operate without proper licenses or community consent, thereby causing environmental damage and security concerns.

“Illegal miners and some cartels are exploiting the state’s resources for personal gain. This is a serious problem we are working hard to address,” he said.

The Commissioner explained that for anyone to operate legally, they must obtain a valid license from the Federal Ministry of Solid Minerals Development and also secure consent from host communities and clearance from the state government.

He further noted that the state has introduced new procedures requiring mining companies to engage host communities, ensure environmental protection, and contribute to local development through Community Development Agreements (CDAs).

Qasim Danjani added that the government is also encouraging artisanal miners to form cooperatives, which will enable them to operate legally and benefit from government support.

“We are working to formalize their activities, provide guidance, and ensure they contribute positively to the economy,” he said.

On enforcement, the Commissioner disclosed that several illegal miners have been arrested, while operations are ongoing to identify and remove others across the state.

He also emphasized the importance of collaboration with security agencies and federal authorities to curb illegal activities and prevent insecurity linked to unregulated mining.

The Commissioner assured that the government is creating a conducive environment for both local and foreign investors, stating that registered companies operating legally in the state are given full support and protection.

“If properly managed, the mining sector can generate revenue for the government and fund critical projects such as roads, hospitals, and other infrastructure,” he added.

Danjuma reiterated that the ultimate goal of the government is to ensure that mining activities benefit the people of Niger State while safeguarding the environment and maintaining peace in mining communities.

Continue Reading

Business & Economy

Tinubu seeks NASS approval for Fresh US$516,333,007 loan for construction of Sokoto-Badagry Superhighway Project

Published

on

By

Senate in session in the chamber

By George Mgbeleke

President Bola Ahmed Tinubu on Thursday requested the National Assembly to formally prove a foreign loan to the tune US$5168,333,007 for the construction of Sokoto-Badagry Superhighway Project.

In a letter addressed to the President of the Senate, Senator Godswill Akpabio and read to Senators at the Thursday plenary, President Tinubu urged the lawmakers to prove the proposed foreign loan for financing arrangement of a syndicated loan facility of US$516,333,007 for construction of the Sokoto and Badagry Superhighway Project.

The official communication reads:

“The purpose of this communication is to formally request the resolution of the National Assembly, pursuant to the provisions of Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to approve a proposed foreign financing arrangement of a syndicated loan facility of US$516,333,007 for the construction of the Sokoto–Badagry Superhighway Project.

“Specifically, approval is sought for:

A. The syndicated financing facility from Deutsche Bank in the total sum of US$516,333,007 for the execution of Sections 1, 1A, and 1B of the Sokoto–Badagry Superhighway Project.

B. The inclusion of the said financing in the Federal Government’s borrowing plan, as earlier approved by the National Assembly.
The Senate is invited to note that the Sokoto–Badagry Superhighway is a flagship infrastructure initiative under the Renewed Hope Agenda.

“The project is designed to open up Nigeria’s northwest–southwest economic corridor through the construction of an approximately 1,000-kilometre high-capacity carriageway, linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos States, stretching from Illela to Badagry.

“The project is expected to:
Enhance north–south connectivity and road safety

“Improve network performance along the corridor

“Reduce logistics costs and travel time

“Facilitate trade and strengthen food security.”

Continuing the statement added, “Promote national integration by linking production zones to markets and ports
Provide long-term intermodal flexibility through provision for future rail integration and utility corridors

“The proposed financing arrangement comprises a syndicated loan to be secured through Deutsche Bank AG, supported by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank.

“The Federal Government will provide counterpart funding in the sum of ₦265,542,689,569, covering land acquisition, compensation, and ancillary infrastructure.

“The loan has a tenure of nine years, including a grace period of up to three years, with an interest rate not exceeding the Chicago Mercantile Exchange (CME) SOFR plus 5.3 percent per annum.

“The Federal Executive Council has approved the financing arrangement and its terms.

“In light of the foregoing, approval is hereby requested from the National Assembly for:
The syndicated loan facility of US$516,333,007

“The inclusion of the facility in the borrowing plan

“The execution of Sections 1, 1A, and 1B of the project, covering approximately 120 kilometres

“A draft resolution is attached for ease of reference.”

He expressed optimism that he looks forward to the expeditious consideration and approval of this request by the Senate.”

Meanwhile,Following the presentation of the President’s request, the letter was referred to the Senate Committee on Local and Foreign Debts, with a directive to report back within one week.

Contributing to the debate, Senator Adamu Aliero commended the President for initiating what he described as a landmark project that had remained on the drawing board for over five decades.

He noted that the project is already taking shape, citing firsthand inspection of completed and ongoing sections.

According to him, the superhighway—constructed using reinforced concrete and equipped with solar-powered street lighting—meets modern infrastructure standards.

The senator stated that significant portions of the road pass through multiple states, adding that the project would drastically reduce travel time between Sokoto and Lagos from approximately 13 hours to about six hours.

He described the initiative as transformative, with the potential to positively impact the northwest, north-central, and southwest regions of the country.

Senator Aliero urged his colleagues to support the project by approving the report of the Senate Committee on Local and Foreign Debts once it is presented.

In his remarks, the President of Se Godswill Akpabio, who presided over the plenary, aligned with the position, describing the project as a major economic game changer capable of saving lives and boosting national productivity.

He emphasized that borrowing for critical infrastructure is justified, particularly where such investments yield long-term economic benefits and can facilitate repayment through generated value.

The Senate leadership subsequently urged the committee to expedite its review to enable timely consideration and approval.

Continue Reading

Latest

General News6 hours ago

Fubara Inspects New Commissioners Quarters Sets Completion date for November 2026

By George Mgbeleke Governor of Rivers State, Sir Siminalayi Fubara, has stated that the new residential accommodation being built by...

Law & Crime6 hours ago

S/Court verdict on PDP: A Dangerous precedent,A Judicial Miscarriage Serving Political Interests

By George Mgbeleke The Human Rights Writers Association of Nigeria (HURIWA) has expresses grave concern and unequivocal outrage over the...

Oil & Gas7 hours ago

Fuel Price Hike: A Brutal Economic Assault on Nigerians- HURIWA demands immediate Presidential Action

By George Mgbeleke The Human Rights Writers Association of Nigeria (HURIWA) issues this hard-hitting and unequivocal condemnation of the latest...

Uncategorized8 hours ago

Osun 2026: Traditional security outfits, ethnic groups endorse Governor Adeleke for Re-election*

By David Owei The re-election bid of Governor Ademola Adeleke received a huge boost on Tuesday as traditional security outfits...

Entertainment8 hours ago

Gbajabiamila’s charge to Hon. Leke Abejide,an endorsement of a robust, multi-party democracy–Sunny-Goli

By David Owei Former Member of the Federal House of Representative, RT.Hon. Israel Sunny-Goli has described as ” opposition failed...

Uncategorized9 hours ago

Araba Aiyenigba Felicitates Amb Sola Enikanolaiye on his Appointment as Minister by President Tinubu ….Says he is a pride of Okun Nation, the personification of the cherished Omoluabi ethos

By Ignatius Okorocha The Acting National Secretary of Okun Development Association (ODA) has expressed gratitude to President Bola Ahmed Tinubu...

Business & Economy10 hours ago

Senate Confirms Mukhtar, Gamawa RMAFC

By George Mgbeleke To ensure effective service delivery in the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), the Senate has...

patriotism.10 hours ago

Araba Aiyenigba Felicitates Sola Enikanolaiye on his Appointment as Minister by President Tinubu ….Says he is a pride of Okun Nation, the personification of the cherished Omoluabi ethos

By Ignatius Okorocha The Acting National Secretary of Okun Development Association (ODA) has expressed gratitude to President Bola Ahmed Tinubu...

Politics19 hours ago

Unaccounted N210trillion : Kyari , Ajia , Wunti reach out to Senate Panel ….Threatens Ojulari again with Warrant of Arrest

By George Mgbeleke Having failed severally to appear before Senate Committee on Public Accounts for explanations on yet to be...

patriotism.20 hours ago

A Tribute @ 73: Three things that stand Dr. Mike Adenuga out as an exceptional Nigerian

By Liliian Chinasa Orlando When Nigerians were in tight rope and were paying through their nose to access some foreign-dominated...

Trending