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2023: Resign, stop embarrassing Nigeria- Ezekwesili tells Emefiele

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Former Minister of Education, Oby Ezekwesili, has called on the Governor of the Central Bank of Nigeria, Godwin Emefiele, to resign and stop embarrassing the country.

Ezekwesili’s reaction followed reports that Emefiele picked the All Progressives Congress N100 million presidential nomination and expression of interest form on Friday in the Federal Capital Territory, Abuja.

“I just read your waffling neither-here-nor-there tweet reacting to news of your payment of N100M for the APC Nomination form for 2023 Presidential election,” Mrs Ezekwesili tweeted.

“Seems you did not read what the APC Spokesperson said to ⁦@Bloomberg⁩ . Resign. Stop embarrassing the country. Stop.”

The former minister also alleged that Emefiele handed over the apex bank’s control to the president since he assumed office.

She added that the “ill-advised monetary policies” of the bank in the last seven years were “political”.

“The wrong monetary policies put in place by Emefiele’s CBN since Buhari assumed office in 2015 were testament that the bank had handed over its independence to the president,” she said

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She tweeted: “If you did not know all along that Nigeria’s serial wrong and ill-advised Monetary Policies of the last 7 years were political because the @cenbank long handed its independence to the Villa @NGRPresident @MBuhari , at least now you know. They’ve outed themselves. Finally.”

The former minister asked the CBN boss to resign his position and pursue his “ill-fated political career.”

“The Governor of Central Bank of Nigeria @cenbank must now immediately tender his resignation to stop further destroying whatever little remains of the country’s monetary policy reputation,” she said.

“Mr Emefele should leave immediately- tonight- to pursue his ill-fated political career.”

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Kaduna refinery to resume 60% production capacity December — NNPCL

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The Management of the Nigerian National Petroleum Company Limited (NNPCL) says the rehabilitation of the Kaduna Refining and Petrochemicals Company (KRPC) will be completed by the end of 2024 after years of being shut down due to lack of maintenance.

The Managing Director of KRPC, Mustafa Sugungun, disclosed this on Monday during an oversight visit to the refinery by members of the Senate Adhoc Committee on Petroleum Downstream led by Senator Ifeanyi Ubah.

 

He explained that the 110,000-barrel-per-day refinery will start producing at 60 percent capacity by the end of the year, while full production will take place subsequently.

The KRPC boss explained that the rehabilitation work, which is presently at 40 percent, is expected to be completed within the stipulated time frame

He said, “Our rehabilitation is going on well and steadily according to the plan we have. We are planning to bring this plant to 60 percent nominal capacity by December 31st, 2024.

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“Currently, we are heading towards 40 percent of rehabilitation. We remain committed to bringing back the plant at least 60 percent of our nominal capacity.

“The overall capacity of Kaduna Refinery is 110, 000 barels per day, but we are starting with only 60 percent of that. And in less than one year, we will attain the 110,000 capacity.

 

“So this initial plant operation is for 60 percent Nigerian crude and 50, 000 barrels of imported crude. Imported crude is mainly for lubricants and other petrochemical aspect of it.”

 

On his part, Senator Ubah said that the oversight visit was part of the collaborative effort of the President Bola Tinubu and the National Assembly to ensure that all the nation’s refineries are brought back to life, and consequently enable the country to end the importation of petroleum products.

 

The Kaduna refinery was established in 1980 to supply petroleum products to Nigeria’s Northern region, with a capacity of producing 110,000 barrels per day of crude oil.

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For many years, the Kaduna refinery, just like it’s counterparts in Portharcourt and Warri, has been out of production, leaving the country to rely heavily on imported petroleum products.

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Petrol scarcity: Queues will end Wednesday, says NNPC

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The Nigerian National Petroleum Company (NNPC) Limited says the ongoing shortfall in supply of petroleum products and queues for the products will be cleared out by May 1.

Femi Soneye, NNPC’s spokesperson, said this on Tuesday in Lagos.

Soneye said the company currently has more than 1.5 billion litres of product available, enough to last for at least 30 days.

However, he said some individuals might be exploiting the situation to maximise profit.

 

“Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved,” he said.

“However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations.

“Some folks are taking advantage of this situation to maximize profits.

 

“Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain.

“The lines will be cleared out between today and tomorrow.”

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Petrol queues resurfaced in filling stations amid a scarcity of the commodity, leading to an increase in transport costs.

On April 25, the NNPC attributed the situation to logistics issues, assuring Nigerians that “they have been resolved”.

However, on April 29, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said it does not have access to petroleum products.

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Good morning! Here Are Some Major News Headlines In The Newspapers Today: FG requires $10bn yearly, to revive power sector – Minister

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1. Minister of Power, Adebayo Adelabu, has said $10 billion is needed yearly for the next ten years to revive the nation’s power sector and nip in the bud the challenges bedeviling it. The minister said this when he appeared before the Senate Committee on Power for investigative hearing over the recent electricity tariff hike by the Nigerian Electricity Regulatory Commission, NERC.

 

2. Former Super Eagles winger, Finidi George, has been named senior men’s national team’s new head coach by the Nigeria Football Federation, NFF. The 52-year-old former Real Betis and Ajax Amsterdam attacker was given the reins after the NFF Board approved the suggestion of its Technical and Development Committee, according to a statement released on Monday, April 29.

 

3. Justice Emeka Nwite of the Federal High Court in Abuja has issued an interim order empowering the Economic and Financial Crimes Commission, EFCC, to freeze about 1,146 bank accounts belonging to individuals and companies. The EFCC claimed it was investigating the affected accounts over allegations of unauthorised dealing in foreign exchange, money laundering and terrorism financing.

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4. The Joint Admissions and Matriculation Board, JAMB, has released the 2024 Unified Tertiary Matriculation Examination, UTME, results. The examination, which began on Friday, April 19, ended today, Monday, April 29.

 

5. Some supporters of the All Progressives Congress, APC, stormed the Secretariat of the ruling party in Abuja on Monday to register their displeasure with those allegedly plotting anarchy in the party. The protesters alleged that some external forces were behind the recent purported suspension of the National Chairman of the party, Abdullahi Ganduje.

 

6. A High Court in Kano State, on Monday, fixed May 16, 2024, for ruling on whether the court will allow service through substituted means to respondents in the case between the Kano State government and former governor, Abdullahi Ganduje and eight others. Ganduje, his wife, Hafsat and son, Umar and five others are defendants in the suit.

7. National Chairman of the ruling All Progressives Congress, APC, Dr Abdullahi Umar Ganduje, has described the New Nigeria Peoples Party, NNPP, as a party of failed politicians. Speaking while addressing a coalition of support groups who were at the APC national secretariat on a solidarity visit, he alleged that NNPP leaders were sponsoring protest as part of efforts to remove him as APC helmsman.

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8. A Competition and Consumer Protection Tribunal, CCPT, sitting in Abuja, on Monday, restrained MultiChoice Nigeria Limited from increasing its tariffs and cost of products and services scheduled to begin on May 1.

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