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S’Korean investors to build four refineries in Nigerian – FG

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A consortium of investors from South Korea has concluded plans to build four 100,000-barrel capacity refineries in various locations in Nigeria, the Federal Government announced on Tuesday.

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, stated this at the maiden edition of a summit organised by the Crude Oil Refineries Owners Association of Nigeria in Lagos.

According to him, the Federal Government is encouraging investors to build refineries by providing an open environment for all.

 

Lokpobiri noted that approval was recently granted to invite the consortium, the name of which he did not mention.

 

“We encourage investors to build limited refineries by providing an open environment. A recent approval was granted to invite to Nigeria a consortium of investors from South Korea, which intends to establish four 100,000 barrels-model refineries in four different locations in Nigeria.

 

“We have adopted the public-private partnership model to unlock investment in the midstream and downstream segments of the oil and gas sector, which will lead to the establishment of more modular and mega refineries,” he narrated.

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The oil minister said this will yield results because the Federal Government is open to equity investment in modular refineries and other upcoming refineries as a step to ensure energy security.

 

“The Nigerian Upstream Petroleum Regulatory Commission has developed and published the domestic crude supply obligation guidelines to ensure transparency in the oil industry and ensure access to feedstock by our local refineries.

“In addition, we prioritise and work with stakeholders to ensure effective implementation of the recommendations of the Modular Refinery Committee to give special concession to local refineries’ owners, thereby guaranteeing feedstock to their refineries,” he explained.

 

He spoke further, “We will ensure the deregulation of the downstream sector is 100 per cent and put in place a necessary framework that will ease the impact on the poor masses.

 

“The ministry has facilitated easier access to existing tax and other exemptions on refinery equipment importation, which is part of our plan to make Nigeria self-sufficient for petroleum producers and become Africa’s petroleum refining hub.”

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Lokpobiri said though the PIA created the petroleum ministry and National Gas Infrastructure Fund, which sources its funds from the sales of petroleum products in-country, the thought of the ministry was that a portion of the fund is used to support infrastructural development for refineries, like in the gas value chain.

 

“In effect, we will initiate the review of the PIA to enable this. Meanwhile, CORAN as a body should take up the campaign. Through the Petroleum Technology Development Fund and the Nigerian Content Development and Monitoring Board, we are prioritising partnerships with international institutions in knowledge transfer for manpower in refinery operations, and investment in research and development, to support technological advancements and innovation in the refining sector.

 

“In no distant time, we intend to create the apprenticeship programme in collaboration with existing refineries to develop expertise in our refinery operations,” he disclosed.

 

In an effort to discourage crude oil theft and illegal refining, he said the ministry had set up an international emergency committee on home-grown solutions to in-country refining.

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Good morning! Here Are Some Major News Headlines In The Newspapers Today: Five found dead in Edo as police begin probe into suspected food poisoning

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1. The Police in Edo State have confirmed the death of five and the arrest of one person in connection with food poisoning at Afashio-Uzairue in Etsako West Local Government Area. Edo Police Public Relations Officer (PPRO), Moses Yamu, a Superintendent of Police (SP), said the food poisoning occurred on October 26, causing panic among residents.

 

2. Oyo State Police Command has confirmed 10 persons dead and eight others injured when a building collapsed in Jegede, Ibadan, the Oyo state capital. Oyo Police spokesman, Adewale Osifeso made this known in a statement.

 

3. The National Economic Council (NEC) has recommended the withdrawal of the Tax Reforms Bill from the National Assembly to President Bola Tinubu to allow for wider consultations. Disclosing this to journalists at the end of the 145th NEC meeting at the State House, Abuja, Oyo State Governor, Seyi Makinde, said this formed part of resolutions reached at the meeting.

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4. Minister of Works, David Umahi, has said he will take the responsibility for any poorly constructed roads in the country under the current administration. Umahi explained that the federal government had no excuse not to finish the road projects embarked upon, noting that the ministry was not afraid to wield the ‘big stick’ by terminating the contracts of any erring companies.

 

5. The National Economic Council (NEC), on Thursday, disclosed that about 34 states, 217 local government areas were affected by the recent flooding in the country, adding that 321 persons also lost their lives. The Council also said 1,374,557 persons were affected, 740,743 displaced nationwide while 2,854 persons were injured and 281,000 houses, 258,000 cultivated farmlands were also destroyed by the ravaging flood.

 

6. The Economic and Financial Crimes Commission (EFCC) says a former minister of humanitarian affairs and poverty alleviation, Betta Edu, is still under the investigation of the anti-graft agency despite permanently exiting the cabinet of President Bola Tinubu.

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7. Governors of the 36 states of the federation have expressed dismay over the lingering crisis in the petroleum industry, saying it is shameful that despite being a member of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria still imports petrol. Chairman of the Progressive Governors Forum and Imo State governor, Hope Uzodinma, made the expression while briefing newsmen in Abuja.

 

8. The Nigerian Safety Investigation Bureau found the wreckage of the helicopter that crashed last Thursday into the Atlantic Ocean while conveying workers of the Nigerian National Petroleum Limited from Port Harcourt. This was contained in a statement issued by the Director of Public Affairs and Family Assistance, Mrs Bimbo Oladeji, on Thursday.

 

9. The Commissioner of Police in Abia State, CP Danladi Isa, on Thursday, confirmed the death of an employee of a new generation bank identified as Mr. Victor Udensi and two others in Umuahia, assuring that the perpetrators would soon be brought to book.

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10. No fewer than 15 people were reportedly killed in a renewed attack by gunmen suspected to be armed herders at Anyiin in Logo Local Government Area of Benue State. The attackers were reported to have invaded the town on Wednesday around 6:32 pm killing people.

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  Police detain VeryDarkMan after honouring invitation

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Deji Adeyanju, the Nigerian lawyer, says the police have detained VeryDarkMan, the social media critic.

 

In a Twitter post on Thursday evening, the lawyer said the activist, born Martins Otse, was detained after honouring the police invitation.

 

Adeyanju lamented that his client was taken into custody despite cooperating with the police authorities.

 

“Our client, VDM has been detained after honouring police invitation just like yesterday. VDM who has been consistent in saying the Nigerian Police are our friends even when we all know they are not,” the tweet reads.

 

The development comes after VeryDarkMan shared a video of himself in a matching suit. In the footage, he said he was heading to the police station in Abuja to respond to the invitation.

 

Trouble began when VeryDarkMan wore a police uniform and introduced himself as the “chief superintendent of police (CSP) of the online division”.

 

The police said it would launch an investigation to determine the source of the police gear used and the authority under which the activist acted.

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VeryDarkMan would later apologise to the police while emphasizing that he didn’t intend to impersonate the law enforcement agency.

 

The fitness expert had also revealed that he returned from the police station where he was interrogated based on the controversial footage.

 

The police have yet to confirm VeryDarkMan’s detention or provide further details.

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We secured over 3,000 convictions, recovered N248bn, $105m in one year – EFCC

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The Economic and Financial Crimes Commission (EFCC) says it recovered over N248 billion, $105 million, and secured 3455 convictions in one year.

Ola Olukoyede, chairman of EFCC, spoke in Abuja on Thursday during a press conference to mark his one year in office.

 

Represented by Wilson Uwujaren, EFCC’s director of public affairs, Olukoyede said the achievements were recorded between October 18, 2023, and October 18, 2024, when he assumed office.

 

“The commission within the year recovered N248, 750,049,365.52; $105,423,190.39; £53,133.64; €172,547.10; T1,300.00 Indian rupees and CAD $3,400.00 Canadian dollars,” he said.

 

“It also recovered ¥74,859:00 Chinese Yuan; AUS $ 740:00 Australian Dollars; 170:00 UAE Dirham; 73,000:00 Korean Won; CFA 7,821,375:00 and R 50:00 South Africa Rands.

 

“On asset recovery and return, the EFCC on Sept. 6 handed over to the Royal Canadian Mounted Police (RCMP) the sum of $180,300 and 53 vehicles, being assets recovered for Canadian victims of Nigerian fraudsters.”

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The EFCC chairman said $164,000 of the recovered cash assets was from one Elena Bogomas, while $16,300 belonged to another victim, known as Sandra Butler.

 

He added that about 53 vehicles recovered “were stolen over a period of time in Canada, freighted to Nigeria, and distributed to multiple locations in Nigeria by the criminal elements”.

 

He said the commission charged four former governors to court over corruption allegations in the past year.

 

The former governors are Yahaya Bello, Abdulfatah Ahmed, Willie Obiano, and Darius Ishaku.

 

Olukoyede said the commission also arrested two former ministers of power, Saleh Mamman and Olu Agunloye, who are currently facing prosecution.

 

“Also, a former minister of aviation, Hadi Sirika, is currently standing trial before two different courts: Justice S.B. Belgore of the FCT high court, Garki, and Justice Sylvanus Oriji of the FCT high court, Maitama,” he said.

 

He said Sirika is being prosecuted alongside his brother, Ahmad Sirika, and two companies, Enginos Nigeria Limited and Samahah Integrated Investment Limited, on 10 counts bordering on alleged N5.8 billion fraud.

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He added that the former minister is also standing trial for six counts alongside Fatima Sirika, Jalal Hamma, and Al Buraq Global Investment Limited over alleged N2.8 billion fraud.

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