Cloned Nigerian Anchor

Author: Chike Ozohili

  • Iran to boost oil production by 3.4mbpd

    Iran to boost oil production by 3.4mbpd

    The Islamic republic expects to boost production to 3.4 MMbpd by the end of summer, according to Oil Minister Javad Owji. That would put output near Iran’s capacity limit of 3.8 MMbpd. 

    According to Bloomberg, Iran has already boosted production by about 50 per cent over the past two years, according to comments Owji made to the Iranian parliament’s energy committee reported by the ministry’s news service, Shana.

    Owji’s remarks come amid diplomatic efforts between the U.S. and Iran that have raised speculation about whether aspects of the nuclear deal abandoned by former President Donald Trump in 2018 could be revived. The two nations recently reached agreements that would see captive Americans released and some frozen Islamic republic funds freed for transfer.

    Further talks could set the stage for Iran to boost its already surging oil exports. The nation shipped 2.2 MMbpd of crude and condensates during the first 20 days of August, with monthly exports poised to reach the highest this year, according to TankerTrackers.com Inc., which provides data on oil cargo shipments, Bloomberg said. 

    At the same time, the country’s boom in oil sales, most of which are flowing to China, has complicated efforts by OPEC to support oil prices, with Iranian barrels partially countering recent output cuts agreed by Saudi Arabia and Russia. That’s weighed on oil prices, with global benchmark Brent crude trading below $85 a barrel.

    The revival in Iran’s output has coincided with the nation reaching a preliminary accord with regional adversary Saudi Arabia in April, as well as the latest US diplomatic talks. The Persian Gulf state that was once the second-largest producer in the Organization of Petroleum Exporting Countries saw its energy industry starved of investment under successive rounds of sanctions, while its crude exports were throttled under Trump’s policy of maximum pressure.

    While Iranian exports are very hard to track — with vessels turning off satellite tracking systems to mask their routes — the data TankerTrackers indicates that Iran is drawing crude out of land-based storage tanks. The country processes roughly 1.8 MMbbl of crude at domestic refineries each day.

  • Port Harcourt refinery to resume operations by December -FG

    Port Harcourt refinery to resume operations by December -FG

    *We’re committed to ending fuel importation, says Minister

    The Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity.

    According to a statement on hits X handle, Chief Corporate Communications Officer NNPC Ltd. Garba Deen Muhammad, said the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made this known during an inspection tour of the rehabilitation work progress at the Port Harcourt Refining Company (PHRC) Ltd. plant, in Port Harcourt on Friday.

    The Minister, who was in the company of his counterpart, the Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo; Permanent Secretary, Federal Ministry of Petroleum Resources, Ambassador Gabriel T. Aduda, and the Group CEO, NNPC Ltd., Mr. Mele Kyari, said considering the level of progress recorded in the PHRC rehabilitation project, the plant will come back on stream by December this year.

    “Our objective in coming here today is to ensure that in the next few years, Nigeria stops fuel importation. From what we have seen here today, Port Harcourt Refinery will come on board by the end of the year, Warri will come on stream by the end of the first quarter of next year, and Kaduna will also come on board towards the end of next year. If you add that to the Dangote Refinery, we will be able to stop fuel importation, and Nigerians will enjoy the full benefits of deregulation,” the Minister assured.

    The Minister also said he was satisfied with the ongoing rehabilitation work at the Port Harcourt refinery, noting that once all the refineries are back on stream, Nigerians will enjoy a better supply of petroleum products, and foreign exchange will be domesticated, leading to an improved economy.

    Earlier in his remarks, the Group CEO, NNPC Ltd., Mr. Mele Kyari, said bringing back the refineries to their optimal levels is a national aspiration, and the Company remains focused on delivering that.

    “We are aware of our nation’s challenges in terms of fuel supply. But we are not here to give excuses. We are focused on delivering this rehabilitation project, our two other refineries, and all other investments towards revamping the nation’s refining capacity. We are hopeful that in 2024, this country will be a net exporter of petroleum products,” Kyari stated.

    Also speaking, the Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo said: “We are here to go into the field. Yesterday was the era of subsidies. Today, we don’t have subsidies. Today, people are in a desperate situation to heave a sigh of relief; and see how to live. You all know that petrol is very vital to our economy. All hands must be on deck to ensure that the refineries are working,” he stated.

    During the visit, the two Ministers also participated in the Refineries’ Rehabilitation Steering Committee meeting and held a meeting with the refinery’s Engineering, Procurement & Construction (EPC) Contractors.

  • Police seize 820 cartons of counterfeit, expired drugs in Kano

    Police seize 820 cartons of counterfeit, expired drugs in Kano

    The Kano Police Command reported on Saturday that it successfully confiscated a total of 820 cartons of suspected counterfeit and expired drugs from Malam Kato Market in Fage Local Government Area of the state.

    According to a statement released by SP Abdullahi Kiyawa, the Command’s Public Relations Officer, the drugs were discovered in two warehouses situated within the market premises.

    The confiscated drugs encompassed a variety of items, with 514 cartons of emistxmin/emstifer syrup, 219 cartons of 5mg Lisinopril tablets, 7 cartons of 5mg amlodipine tablets, 87 cartons of 50mg atenol, 40 cartons, and 3 cartons of Frusemide injection among the seized products.

    Acting on the directive of the state Commissioner of Police, Usaini Gumel, a team of detectives was dispatched to the scene to oversee the evacuation and recovery of the drugs.

    Subsequently, the recovered drugs were handed over to the National Agency for Food and Drug Administration and Control (NAFDAC) for further investigation and appropriate action.

    SP Abdullahi Kiyawa emphasized the importance of community involvement in maintaining public safety.

    He urged residents to promptly report any suspicious individuals or items to the police, ensuring that necessary actions can be taken to safeguard public health and well-being.

    This operation underscores the commitment of law enforcement agencies to combat the distribution and sale of counterfeit and expired drugs that pose significant risks to the population.

  • Fossil fuel subsidies surge to record $7trn

    Fossil fuel subsidies surge to record $7trn

    The International Monetary Fund (IMF) has said that subsidies on fossil fuel surged to a record $7 trillion in 2022.

    The Fund in its chart of the week, which focused on climate change, said the impact of the Russia-Ukraine war as governments globally supported consumers and businesses as energy prices spiked.

    As the world struggles to restrict global warming to 1.5 degrees Celsius and parts of Asia, Europe and the United States swelter in extreme heat, subsidies for oil, coal and natural gas are costing the equivalent of 7.1 percent of global gross domestic product.

    The World Meteorological Organization says July was the hottest month on record.

    Data shows that fossil-fuel subsidies rose by $2 trillion over the past two years as explicit subsidies (undercharging for supply costs) more than doubled to $1.3 trillion.

    Consuming fossil fuels imposes enormous environmental costs—mostly from local air pollution and damage from global warming. The vast majority of subsidies are implicit, as environmental costs are often not reflected in prices for fossil fuels, especially for coal and diesel.

    “If governments removed explicit subsidies and imposed corrective taxes, fuel prices would increase. This would lead firms and households to consider environmental costs when making consumption and investment decisions. The result would be cutting global carbon-dioxide emissions significantly, cleaner air, less lung and heart disease, and more fiscal space for governments.

    “We estimate that scrapping explicit and implicit fossil-fuel subsidies would prevent 1.6 million premature deaths annually, raise government revenues by $4.4 trillion, and put emissions on track toward reaching global warming targets. It would also redistribute income as fuel subsidies benefit rich households more than poor ones.

    “Yet removing fuel subsidies can be tricky. Governments must design, communicate, and implement reforms clearly and carefully as part of a comprehensive policy package that underscores the benefits. A portion of the increased revenues should be used to compensate vulnerable households for higher energy prices. The remainder could be used to cut taxes on work and investment and fund public goods such as education, healthcare, and clean energy,” the global lender said.

  • Transcorp’s generating capacity to hit 1200MW by December

    Transcorp’s generating capacity to hit 1200MW by December

    Transcorp Group has said it hopes to raise Nigeria’s power capacity by 300MW by the end of 2023. 

    Speaking on AriseTV, Group Chief Executive Officer of Transcorp Group, Owen Omogiafo, said that resounding the gas challenge will enable the company to achieve its milestone. 

    According to the Transcorp GCEO, despite the gas and transmission challenges, the company still witnessed an impressive improvement in its power business in the first six months of this year (2023). 
    “Transcorp has an installed generation capacity of nearly 2000MW, and in the first half of the year, we focused greatly on improving our mechanical available capacity and we took our capacity to about 900MW. 

    “There were still some challenges with gas and transmission, but notwithstanding that, we saw a great improvement in our power business. Going by the strategy we are working with now, by year end, we will have about 1,200MW of available capacity.”

    On the Abuja Electricity Distribution Company (AEDC) acquisition, Omogiafo explained that Transcorp as part of a consortium that acquired a 60 per cent stake in AEDC was driven by the need to drive Nigeria’s economic recovery as no industry or sector can operate without power. 

    Experts have opined that lack of a stable power supply continues to be a drawback to the country’s development. 

    Manufacturers Association of Nigeria (MAN) has said that its members spent the sum of N144.5 billion on alternative power sources in 2022. 

    She noted that the power sector is critical if the country’s real sector is economic growth. 

  • Update your prepaid meters to avoid recharging issues, NERC warns

    Update your prepaid meters to avoid recharging issues, NERC warns

    The Nigerian Electricity Regulatory Commission (NERC) has raised the alarm, saying unless customers update their pr-paid meters, they will not be able to recharge with their cards from next

    The Nigerian Electricity Regulatory Commission (NERC) that advised Electricity Distribution Companies (DisCos) to assist customers updates their meters.

    In a message on its Twitter/X handle the Commission explained the process of updating would be free of charge with customers expected to approach the power Distribution Companies (Discos) on how to go about it.

    “If you have a prepaid meter, it may be time for an update. From November, 2024, you may not be able to recharge your meter. However, updating is easy and free.

    “Discos shall commence issuance of two free Key Change Tokens (KCTs) which will update your meter,” NERC stated in the message.

    In addition, it stated that the process will not in any way impact the units in the meters , urging consumers not to be apprehensive.

    “The update will not affect the units in your meter nor will it make your meter run faster than usual. Contact your Disco for more information,” it said.

    The NERC further added that the update will not affect meter units, nor will it result in any acceleration of its usual operational pace.

    “The update will not affect the unit in your meter, nor will it make your meter run faster than usual, contact your disco for more information,” NERC said.

    The NERC warned that failure by electricity customers to update their metering devices would make them face challenges with recharging by next year.

  • NIMASA registers 8,014 seafarers in 30 months

    NIMASA registers 8,014 seafarers in 30 months

    The Nigerian Maritime Administration and Safety Agency (NIMASA) has revealed that a total of 8,014 seafarers were registered in 2021, 2022, and the first six months of 2023.

    A statement by NIMASA Assistant Director, Public Relations, Osagie Edward, stated that 24 MLC, 2006 certificates were issued in the year 2021, 49 MLC, 2006 certificates issued in the year 2022 and 63 MLC, 2006 certificates have been issued in the year 2023 (January-July). 

    “Thus, a total of 8,014 seafarers have been registered from 2021 to 2023 (Jan-July) and 136 MLC, 2006 certificates issued after inspections within the same years. 

    “Moreover 65 stevedoring companies, 26 terminal/jetty operators and 1,395 dockworkers have been registered from 2021 to 2023 (January-July). 

    “NIMASA under the current administration led by Dr Bashir Jamoh, have placed 3,705 seafarers on board Cabotage vessels in the year 2021, 7,238 seafarers placed in 2022 and 1013 placed in 2023 (Jan – July). Overall, a total of 11,956 Nigerian seafarers have been placed onboard Cabotage vessels from January-2021 to July- 2023. 

    “Resultantly, 539 Nigerian seafarers have been recommended for replacement in the first quarter of 2023,” NIMASA said.

    According to the Agency, in December 2022, it sent forth 235 Nigerians to India and Greece as Batch B of the 435 young Nigerians are expected to be trained as Licensed Deck and Engine Officers including Naval Architects under the Agency’s Nigerian Seafarers Development Programme (NSDP) with an additional 200 having been previously sponsored for overseas training under Batch A.

    The NSDP was initiated in 2008 with the sole mandate of training Nigerian youths to become seafarers and Naval Architects in fulfilling one of its cores in the area of Maritime Capacity Building. The programme was designed to train Nigerian youths up to Degree level in Marine Engineering, Nautical Sciences and Naval Architecture in some of the best Maritime Training Institutions (MTIs) abroad and to position them to compete effectively in the global Maritime Industry as a means of developing the Nigerian maritime space.

    Speaking at the time, the NIMASA Director General Dr Bashir Jamoh, had noted that the Agency was working with countries who are committed to an understanding for mutual recognition of Certificate of Competency, CoC, and that had underpinned the selection of the chosen Institutes to train the beneficiaries. 

    “It is also noteworthy that the Agency has succeeded in providing sea time for all beneficiaries of the NSDP. This implies that the bedrock for young Nigerians to earn foreign currencies and improve remittances to the country has been set by the Agency,” he said.

    The NIMASA spokesman further said that “One of the cardinal principles of the Cabotage regime is the localization of manning vessels operating in Nigerian waters. To a considerable extent, NIMASA has ensured the placement of Nigerian seafarers on board Cabotage vessels in line with its placement function and the provisions of the Cabotage Act, 2003.

    “Improving on this, Cabotage manning applications are now processed on the condition that all foreign crew especially Ratings on board vessels are to be replaced with Nigerian seafarers/cadets within two-three weeks of operations.”

  • 58 deceased policemen’s families get N22.5m in Kaduna 

    58 deceased policemen’s families get N22.5m in Kaduna 

    In a gesture of recognition and support, the Commissioner of Police for Kaduna State Command, Mr. Musa Garba, presented a total of N22.5 million in cheques to the families of 58 police officers who lost their lives while serving on duty within the state.

    The poignant ceremony, reflecting the appreciation for the sacrifices made by these officers, was conveyed on behalf of the Acting Inspector General of Police, Dr. Kayode Egbetokun.

    The Deputy Public Relations Officer of the command, ASP Mansir Hassan, disclosed in a statement on Thursday that the symbolic presentation aimed to offer financial assistance to the bereaved families in the wake of their profound loss.

    Commissioner Garba underscored that the emotional weight of the officers’ sacrifices goes beyond the monetary value of the cheques handed out, reiterating that it was a tangible expression of the Acting IGP’s compassion and support.

    Garba emphasized that the intention behind the financial aid was to alleviate the challenges faced by the families due to their loved ones’ untimely demise. He urged the recipients to utilize the funds judiciously, recognizing the profound impact it could have on their lives during this challenging time.

    “The pains associated with the loss of our fallen heroes are incomparable to the value of the cheques issued to the families.

    “It is the Acting IGP’s way of showing support and concern to those families,” Garba said.

    He added that it was meant ameliorate the hardships being experienced by the families, and urged them to use the money wisely.

    Mr Pius Luka who spoke on behalf of the beneficiaries, thanked the police management for the gesture, saying it will help reduce some of the hardships they face since the demise of their loved ones. 

    One of the beneficiaries, Mr. Pius Luka, conveyed gratitude on behalf of the families for this thoughtful gesture extended by the police management. He acknowledged that the financial support would significantly alleviate the hardships that the families had encountered since losing their beloved officers.

    This poignant initiative, marked by the presentation of N22.5 million in cheques, demonstrates the commitment of law enforcement to honor the dedication and sacrifices of officers who have fallen in the line of duty. Beyond the monetary value, the gesture holds a deeply empathetic message of support and solidarity with the families left behind, recognizing the challenges they face and aiming to provide some measure of relief.

  • Park Ownership Dispute: Unknown gunmen trigger pandemonium in Anambra

    Park Ownership Dispute: Unknown gunmen trigger pandemonium in Anambra

    An unsettling situation unfolded on Wednesday in Nkpor, situated within the Idemili North Local Government Area of Anambra State.

    The cause of the upheaval was the contentious matter of park ownership, which escalated to the point of armed masked individuals purportedly assuming control of the parks.

    In the midst of this dispute, chaos ensued, leading to the reported injury of at least five individuals due to the commotion caused by gunshots fired by the armed intruders.

    Emmanuel Idemili, the Chairman of the Amafor Nkpor community, addressed the media regarding the unfolding situation.

    According to him, his team was duly authorized by the state government to manage and generate revenue from the parks.

    He revealed that he was away on official business in Awka when he received a distressing call from his staff at the parks.

    They reported that a group of masked and armed individuals had forcefully entered the scene under the fly-over bridge, immediately resorting to gunfire and driving his team away.

    Idemili expressed his concern for the wellbeing of his staff, mentioning that he was uncertain whether any of his members were among the injured. The intensity of the shooting triggered a stampede, causing traders at the Nkpor New Auto Spare Parks and Nkpor Relief Markets to hastily close their shops and seek safety.

    In an attempt to verify the unfolding events, the State Police Public Relations Officer (PPRO), DSP Tochukwu Ikenga, was contacted. However, he stated that he had no knowledge of the incident, leaving the situation shrouded in uncertainty.

    This alarming incident in Nkpor, Anambra, underscores the potentially volatile nature of disputes over public spaces and their management.

    The clash over park ownership not only led to injuries but also disrupted the local commercial activities, highlighting the need for swift and effective resolution to maintain order and safety in the community.

  • Katsina govt confirms receipt of N2bn palliative from FG

    Katsina govt confirms receipt of N2bn palliative from FG

    The Katsina State Government has confirmed the receipt of N2 billion out of the N5 billion palliative approved to the states by the Federal Government.

    Dr Bala Salisu-Zango, the state’s Commissioner for Information, Culture and Home Affairs made the clarification while reacting to insinuation that the federal government released N5 billion to the state.

    He said that: “The attention of the state government has been drawn to news going round in the media that N5 billion has been released to states by the Federal Government for palliative.

    “I wish to state that, Katsina State Government received only N2 billion for procurement of grain to be distributed to the citizens of the state”.

    Salisu-Zango said the state government had so far utilised N2 billion to procure 40,000 bags of rice for distribution to vulnerable persons in all the polling units across the state.

    He said the government would also utilise the next tranche of the fund from the federal government to purchase maize for distribution to deserving households.

    He warned that the state government would punish anyone found wanting in the palliative distribution exercise.