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NNPC Denies Conniving With Swiss Oil Firms To Defraud Nigeria

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FROM LEFT:NNPC, GROUP MANAGING DIRECTOR, MR ANDREW YAKUBU (R), WITH MEMBERS OF THE HOUSE JOINT COMMITTEE ON PETROLEUM RESOURCES DOWNSTREAM, UPSTREAM AND JUSTICE, INVESTIGATING THE ALLEGED CONNIVANCE OF NNPC WITH SWISS OIL DEALERS TO ROB NIGERIA IN ABUJA ON TUESDAY (25/2/14).

FROM LEFT:NNPC, GROUP MANAGING DIRECTOR, MR ANDREW YAKUBU (R), WITH MEMBERS OF THE HOUSE JOINT COMMITTEE ON PETROLEUM RESOURCES DOWNSTREAM, UPSTREAM AND JUSTICE, INVESTIGATING THE ALLEGED CONNIVANCE OF NNPC WITH SWISS OIL DEALERS TO ROB NIGERIA IN ABUJA ON TUESDAY (25/2/14).

The Nigerian National Petroleum Corporation (NNPC) on Tuesday debunked claims that the corporation connived with Swiss oil companies to defraud Nigeria.

Mr Andrew Yakubu, Group Managing Director of the corporation, made the denial at the investigative hearing on the alleged connivance of NNPC and Swiss oil companies to defraud Nigeria of billions of dollars.

The News Agency of Nigeria (NAN) reports that the allegation was made by Berne Declaration, a Switzerland-based non-governmental advocacy group.

The group alleges that Nigeria loses billions of dollars every year from large volumes of crude oil exported from Nigeria below the international market price.

It specifically mentioned Vitol and Transfigura Commodity Trading Firms of Switzerland in the shady deal with the NNPC.

Testifying before the House of Representatives Committee on Petroleum Resources (Upstream), Yakubu, however, said that the corporation’s pricing strategy was in line with international best practice in the oil industry.

“Our prices are based on a reference to the benchmark crude Brent which prices are published by Platts for the international community”, he said.

The NNPC boss said that the claim by Berne Declaration that Vitol and Trafigura oil companies accounted for over 36 per cent of total volume of crude oil disposed by the NNPC was false.

He said that contrary to the claim, Vitol and Trafigura accounted for only 30.7 million barrels out of the 341.07 million barrels disposed by the corporation in 2013.

“The lifting of Trafigura and Vitol in 2013 therefore represents nine per cent of the total lifting as against 36 per cent reported by Bernes Declaration”, Yakubu said.

He said that Nigerian traders collectively accounted for 98.2 million barrels during the period under review.

Yakubu told the committee that international traders, including Swiss trading companies, accounted for 61.2 million barrels, while off-shore and the Nigerian refineries took 36.2 and 38.3 million barrels, respectively.

He said that the selection of buyers of Nigerian crude was done transparently and competitively based on financial and technical capabilities.

Yakubu said that there had been significant increase in the number of Nigerian traders participating in the disposal of Nigerian crude.

He explained that the swap arrangement alleged by the Berne Declaration was a known practice in the oil industry

Yakubu said that the corporation delivered the international market value of crude to the federation on the basis of the general sales agreement and conditions.

He said that the NNPC Act mandated the corporation to supply petroleum products to the federation as supplier of last resort.

“In order to meet this obligation, 445, 000 barrels of crude is assigned to the corporation at international price for domestic refining”, he said.

The Chairman of the committee, Rep. Muraina Ajibola (PDP-Oyo), said that the committee would ensure that appropriate recommendations were submitted to the House. (NAN)

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“Oke Wasn’t Killed By Stray Bullet, He Was Stabbed By Thugs” – Brother Claims

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“Oke Wasn’t Killed By Stray Bullet, He Was Stabbed By Thugs” - Brother Claims
Oke

Oke

Information Nigeria recalls a graphics designer identified as Oke, was killed hours after tweeting “Nigeria will not kill me” on Wednesday.

It was reported that the young man had passed away after he was hit by a stray bullet.

The deceased’s younger brother, Daniel has come out to clear the air regarding the circumstances leading to his death.

Daniel revealed his brother was stabbed on the neck by thugs who infiltrated and ransacked their home.

In his words;

Good day, My name is Obi-Enadhuze Daniel younger brother of the now deceased Okechukwu Obi-Enadhuze @O_Okee . I, my brother and mother lived at makinde police barracks, mafoluku, Oshodi, Lagos State.

Today at about 11 o’clock in the morning the police station at makinde was attacked by thugs who wanted to destroy the station, I my mom and brother were holed up in our house.

 The attack went on for hours before the thugs eventually breached the police and proceeded to set the station on fire, after accomplishing this they set their sights to the barracks and began the assault, they proceeded to destroy every car in the barracks, my mom’s 2 cars where destroyed and set on fire and then they infiltrated our house by breaking the door they then proceeded to ransack the house and carted away with everything we own. 

 my brother on trying to get them to take everything but spare us was pushed to my mom’s room and stabbed on the neck, the attacker then proceeded to attack me but missed my neck but got my chin instead, after this my mom and I carried my brothers body to the entrance of the station soliciting for help from the thugs still ravaging the barracks, we were finally able to put him in a wheelbarrow and took him to a hospital where he was rejected because “he was already dead” unfazed we moved him to another hospital where he met the same treatment this was where he bled his last drops of blood and died, his body has now been moved to a morgue

we have lost every single thing we own, as our house was completely ransacked and set on fire the only thing left is my brothers phone and at about 8 o’clock this evening the barracks was still on fire but Okechukwu has paid with the ultimate price

I and my mother are homeless with nothing now but we’re safe for now, we thank everyone that has been able to reach out to us, and were able to share consoling words with us in these trying times, God bless you

While we were holed up in the house the three of us said these words together and we say it again ” THREE OF US ARE HERE, THREE OF US ARE TOGETHER, THREE OF US ARE SAFE”

Let it be known that my brother @O_Okee  was NOT killed by a police bullet but died a hero protecting my mother and I.

If you see this please retweet, let the world know how Okechukwu died. He was NOT killed by a police bullet but thugs in his home!”

Read Also: RIP Oke: Barely 3hours After Tweeting “Nigeria Will Not End Me” #EndSARS Protester Dies From Gunshot

See his post below:

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Youths Burn Down Sanwo-Olu’s Mother’s House In Lagos (VIDEO)

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Youths Burn Down Gov Sanwo-Olu’s Mother’s House In Lagos (VIDEO)

Youths Burn Down Gov Sanwo-Olu’s Mother’s House In Lagos (VIDEO)Lagos youths have set the family house of Governor Babajide Sanwo-Olu on fire.

This was after the Governor said that no nobody was killed during the shooting by soldiers at Lekki Toll Gate on Tuesday night.

Sanwo-Olu had debunked claims that the soldiers opened fire and killed some peaceful protesters.

Recall that men of the Nigerian Army reportedly opened fire on protesters following the declaration of 24 hours curfew by the Lagos State Governor, Babajide Sanwolu.

Bullets fired by security operatives hit some persons and at least two persons have been confirmed killed by the police and many injured

Voices in viral footage blamed the shootings on soldiers.

However, the angry youth attacked several important places such as Nigeria Port Authority, TVC News, and the family house of the Governor where his mother resides.

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#LekkiMassacre: Hoodlums Storm TVC Station In Lagos; Set Properties On Fire (Video)

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#LekkiMassacre: Hoodlums Storm TVC Station In Lagos; Set Properties On Fire (Video)
Properties in the conpound on fire

Properties in the compound on fire

Hoodlums have reportedly invaded the headquarters of popular news station, TVC, believed to be owned by National Leader of APC, Bola Tinubu.

According to reports, the staff of the news station are being trapped in the building located in Lagos.

Videos circulating online shows that properties in the compound have also been set ablaze.

The news station is currently off air and this comes hours after Nigerians accused the Lagos politician of having a hand in the #LekkiMassacre.

Information Nigeria recalls security agents had opened fire at peaceful #EndSARS protesters at Lekki Tollgate on Tuesday.

In a video circulating online, the anchors of one of the shows, ‘Your View’ were heard saying that there were hoodlums at their gate trying to break into the premises.

Read Also: #EndSARS: Nigerian Army Denies Shooting At Protesters In Lekki

Watch the video clips below:

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