A prominent member of the opposition party, the Peoples Democratic Party, who has been critical of President Bola Tinubu, Daniel Bwala, has expressed his willingness to accept an appointment from Tinubu, should it be offered to him.

He said he would accept an appointment if it contributed to the development of Tinubu’s development agenda.

The lawyer and politician, who met with Tinubu at the Presidential Villa last week, made this known on Channels Television’s Sunday Politics programme on Sunday.

“If the President makes an offer of a position that I see that will contribute to the development of his agenda because I say I will support his agenda, I will more than anything else appreciate it.

“But it is not the appointment that I am looking for to support him. Eight years, I supported Buhari, I was a public official. You have to separate between those who do not have value and are cringing and crying for an appointment and those who believe the value and what they will contribute has nothing to do with whether you’re
appointed or you’re not appointed,” he stated.

Last week, there was a strong reaction towards Bwala for his decision to back Tinubu, considering his previous role as the spokesperson of the PDP Presidential Campaign Council for the 2023 elections, where Atiku Abubakar was the presidential candidate.

As a previous member of the APC, Bwala left the party after Tinubu named Kashim Shettima, the former governor of Borno, as his running partner.

He criticised Tinubu’s decision to select a Muslim running mate, despite being a Muslim himself. He then joined the campaign of the PDP and showed his support for Atiku, who chose a Christian as his running mate, former Delta governor Ifeanyi Okowa.

During Sunday’s interview, the PDP chieftain compared his role as the PDP presidential candidate’s spokesman during the previous campaign to that of a salesman. He described his responsibility as promoting their product and highlighting its strengths while also downplaying the competition.

“As a spokesman, that was my duty. I exhibited what I believe to be the quality to the best of my knowledge,” Bwala said.

He noted in the interview that meeting Tinubu at the Presidential Villa was known to Atiku

“I informed Atiku Abubakar I was going to see the President. After I had seen the President, I informed him (Atiku) that I had just seen the President and he replied me that, ‘Thanks Daniel for notifying me’,” he said.

A prominent civil rights advocacy group, the Human Rights Writers Association of Nigeria (HURIWA), has rejected the plan by the new Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to transfer some departments of the apex bank to Lagos.

The group insisted that the decision was political and reeked of petty politics.

HURIWA compared the apex bank move to newly elected and sworn-in governors rapidly moving state universities to their local government areas.

They argued that it makes no logical sense to say that the attempt to decongest the Abuja headquarters of the CBN was a reason for transferring departments to Lagos.

The group shared their objection via a statement by the National Coordinator, Emmanuel Onwubiko.

They noted that the decision by the new CBN chief was tantamount to disrespecting section 298 of the constitution of Nigeria, which states that the FCT shall be the capital of the federation and seat of government of the federation.

HURIWA argued that the enabling Act that set up the CBN prescribed the legal functions to include being the official banker of the government of the federation.

They described the reason given for the plan to move some departments to Lagos as puerile and laughable.

Vinicius Junior struck a first-half hat-trick to fire Real Madrid to Spanish Super Cup glory in a thumping 4-1 win over rivals Barcelona on Sunday in Saudi Arabia.

Robert Lewandowski struck for Barcelona, who had defender Ronald Araujo sent off in the second half on a dismal night for the Spanish champions.

Rodrygo rounded off Real Madrid’s rout as they won the competition for the 13th time, avenging last year’s final defeat by record 14-time winners Barcelona.

“(Vinicius) needed two or three games to get back to his best level, and he’s back to it,” said Real Madrid coach Carlo Ancelotti.

The Italian has now gone level with Zinedine Zidane on 11 trophies won at the helm of Los Blancos, behind only Miguel Munoz on 14.

“It was a tough game for us, I think the result is too favourable, given how Barcelona played,” he added.

Spanish champions Barcelona were hoping a victory could kick-start their season, as it did last year, but were left soundly beaten, after Vinicius netted two early goals.

“We’re raging at the defeat … we have to learn from losses and we have other competitions to play for, I believe in this team,” Sergi Roberto told Movistar.

“Losing against Real Madrid always hurts and I think those two goals in (the first) 10 minutes had a big impact on the game.”

Barca coach Xavi turned to a four-man midfield to try and keep the ball to reduce Madrid’s opportunities to counter attack with flying wingers Vinicius and Rodrygo — it didn’t work.

Spain international Pedri started in place of winger Raphinha, who suffered a hamstring injury in the semi-final win over Osasuna.

Ancelotti brought in midfielder Toni Kroos, who like in the thrilling semi-final derby win over Atletico Madrid, was jeered by spectators at the Al-Awwal Park stadium in Riyadh, for criticising players moving to the Saudi league from Europe.

One of the first was Cristiano Ronaldo and Vinicius’ celebration brought him to mind after opening the scoring in the seventh minute.

The Brazilian, recently back after injury, was sent through by a perfect pass by Jude Bellingham and he slickly rounded Inaki Pena before slotting home.

Vinicius imitated Ronaldo’s classic jump and spin celebration in homage to Madrid’s all-time top goalscorer.

Three minutes later, Vinicius pounced again, this time set up by Rodrygo who exploited Barcelona’s high line and cut the ball across for his compatriot to slide in.

– No fightback –

Xavi’s side scrambled furiously for a response and Ferran Torres hit the crossbar before Andriy Lunin tipped Lewandowski’s follow up over.

Lunin, selected over Kepa Arrizabalaga who let in three against Atletico, produced another solid stop to deny Torres from a tight angle.

The Ukrainian goalkeeper could do nothing, however, to keep Lewandowski’s vicious volley out in the 33rd minute, hammered in hard and low from the edge of the box.

Araujo swiftly gifted Vinicius a chance to complete his hat-trick from the penalty spot by tugging back the forward in the box.

Vinicius drilled his penalty into the bottom left corner for his first Clasico hat-trick to double his goal tally against Barcelona — he had previously scored only three in 15 games.

Xavi rolled the dice with a triple substitution, sending on attackers Joao Felix, Lamine Yamal and Fermin Lopez, but Madrid soon had their fourth.

Araujo completed a dismal night by earning a red card as he crashed through the back of Vinicius for a second booking.

Rodrygo was in the right place at the right time to convert after Jules Kounde blocked a Vinicius cut-back searching for Bellingham.

Kounde cleared a low effort from England international Bellingham off the line as Madrid sought another to rub salt in their rivals’ wounds late on.

The Nigerian Army has announced the retirement of a total of nine generals from service.

This was made known in a statement on Sunday by the Director of Army Public Relations,  Maj. Gen. Onyema Nwachukwu.

The generals, who are from the finance corps of the service, are  Maj. Gen. A.O. Adetayo, Maj. Gen. J.E. Jakko, Maj. Gen. A. R. Bakare, Maj. Gen. A. B. Adamu, Brig. Gen. N. L. Isama, Brig. Gen. O. F. Ohunyeye, Brig. Gen. O.A. Adenuga, and Brig Gen II Adamu.

According to Nwachukwu, the passing-out parade was held in honour of the senior officers on Friday.

The statement reads: “The Nigerian Army Finance Corps had earlier honoured nine of its senior officers in a Pulling Out Parade organised to honour retired and senior officers of the Corps on Friday, 12 January 2024.

“The Nigerian Army Finance Corps WASA 2023 featured rich cultural performances by different cultural troupes, a tug of war between female soldiers and soldiers’ wives, presentation of awards to outstanding soldiers and prizes to performing cultural troupes.”

The retirement of the nine generals comes less than a month after 113 generals bowed out of the Nigerian Army on December 19, 2023.

[NaijaNews]

Patrice Motsepe, Africa’s first black billionaire and one of South Africa’s richest men, has experienced a notable financial upturn, witnessing a $400 million increase in wealth over the past month.  

According to recent data from Forbes, his net worth was $2.3 billion as of December 10, 2023. However, the latest figures reveal a substantial rise, with Motsepe’s net worth reaching $2.7 billion at the close of Friday’s market trade.  

Breaking down the numbers, the 61-year-old mogul initiated the year with a $2.6 billion net worth, showcasing a $100 million increase in the current assessment.

Motsepe’s wealth is intricately tied to his 40.37% stake in African Rainbow Minerals (ARM), a South African mining company with diversified interests in iron, coal, steel, copper, gold, platinum, and other precious metals.  

The surge in Motsepe’s net worth is attributed in part to the revaluation of private investments, with a significant impact coming from his holdings in TymeBank, South Africa’s leading digital bank.  

TymeBank secured $77.8 million in funding during a pre-series C round in 2023, attracting investments from international entities like Norrsken22 and Blue Earth Capital.  

While Motsepe faces challenges in his mining ventures, particularly with African Rainbow Minerals and African Rainbow Capital Investments, his diversified portfolio showcases resilience and strategic gains in key sectors.

Additionally, his 7.8% stake in the financial services giant Sanlam has risen by 1.56% this year, offsetting losses in other equity holdings on the Johannesburg Stock Exchange (JSE). 

What you should know  

Patrice Motsepe, the trailblazing founder and chairman of African Rainbow Minerals, achieved billionaire status in 2008, marking a historic milestone as the first black African on the Forbes list.

His influence extends beyond mining, as evidenced by the launch of African Rainbow Capital in 2016, a private equity firm dedicated to investing across the African continent. 

•  Beyond the boardroom, he holds the prestigious position of president and owner of the Mamelodi Sundowns Football Club, showcasing his involvement in sports. 
• March 2021 saw Motsepe ascend to the presidency of the Confederation of African Football, the governing body for the sport across the continent. This appointment underscores his leadership role in shaping the future of football in Africa.  
• Motsepe’s journey to success began in 1994 when he achieved the distinction of becoming the first black partner at the law firm Bowman Gilfillan in Johannesburg. Subsequently, he ventured into the mining industry by establishing a mining services contracting business. In 1997, he strategically acquired underperforming gold mine shafts, employing his business acumen to turn them into profitable ventures. 

  [Nairametrics]

The Presidency has made a firm declaration that President Bola Tinubu’s administration will maintain a no-tolerance stance towards any form of corruption, especially in the ongoing investigation of the Ministry of Humanitarian Affairs and Poverty Alleviation and its Social Investment Programmes.

This commitment was articulated by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, during his appearance on TVC’s “Politics on Sunday.”

Ngelale emphasized that the Tinubu administration has no ‘sacred cows’ and will not hesitate to take action against anyone found culpable in the investigation.

While suspending the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, on January 7, Tinubu had directed the Chairman of the Economic and Financial Crimes Commission to “conduct a thorough investigation into all aspects of the financial transactions involving the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, as well as one or more agencies thereunder.”

He also tasked a panel headed by the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, to, among other functions, “conduct a comprehensive diagnostic on the financial architecture and framework of the social investment programmes to conclusively reform the relevant institutions and programmes in a determined bid to eliminate all institutional frailties for the exclusive benefit of disadvantaged households and win back lost public confidence in the initiative.”

Providing context to the ongoing probe, Ngelale said, “The President has given full instruction to the EFCC chairman to not only conduct a thorough investigation.

“The way the President would direct such an investigation is to say that nobody, no name, should be left out if they are found wanting in the situation. No sacred cows at all.

“Anywhere this investigation takes the EFCC and other investigating authorities. That is where the investigation must go and the President will take action accordingly.”

Edu caught the attention of Nigerians’ after a leaked memo on December 20 revealed that she directed the Accountant-General of the Federation, Oluwatoyin Madein, to transfer N585m to a private account owned by one Oniyelu Bridget, who the ministry claimed currently serves as the Project Accountant, Grants for Vulnerable Groups.

Protocol,

1. Let me start by thanking God for all what He has done for our state. Moments ago, the Supreme Court gave the final declaration on the appeals by both the PDP and the APC governorship candidates in the 2023 election that happened on the 18th of March, whose result was announced four days after on the 22nd of March 2023.

2. After the declaration, there were a retinue of cases that were filed at different courts in the land. The most prominent for which judgment was given was the one filed at the Kano Federal High Court. That judgment was to the effect that the inauguration should not happen on the 29th of May 2023. Our team of lawyers responded promptly and filed an appeal and got an injunction restraining the people who filed the suit.

3. The swearing in happened on the 29th May 2023 and governance started immediately thereafter. Subsequently, the PDP candidate and his APC counterpart went to the tribunal and lost at the tribunal. They appealed to the Owerri Court of Appeal and a panel was set up on the 2nd of December 2023. Judgment was delivered on that appeal and to the glory of God we won both the PDP and APC candidates.

4. On the basis of our earlier victory at the courts, I had written personal letters to the candidates of the APC and PDP, not because that I feared anything to the contrary would happen today, but I thought that they were spending a lot of money and putting the state in a state of fear and trepidation. So, I had appealed to them not to proceed to the Supreme Court and I had also recommended that the monies that they were going to spend paying lawyers and all the logistics be spent wisely in developing their different communities. Unfortunately, that appeal was heeded to the contrary and they proceeded to the Supreme Court.

5. We want to thank God that moments ago, the Supreme Court gave its judgment and in its well-considered opinion the Supreme Court reaffirmed our victory not just at the polls but at the tribunal and the appeal tribunal.

6. So, we want to start by thanking God for the victory that actually started in 2015 and was affirmed today.

7. We also want to thank the Abia people who have stood solidly behind us since we took the principled stand of contesting for elections to rescue Abia State from decay and dilapidation.

8. We also want to thank Nigerians who have embraced our governance model and have at different fora said positive things about what is happening in Abia State today.

9. We want to thank the judiciary for being firm and not letting itself be derailed by smart arguments from lawyers. Today, the judiciary has affirmed that understanding that it is the last hope of the common man.

10. We want to also thank the President of the Federal Republic of Nigeria, Senator Bola Ahmed Tinubu, for remaining firm to the resolve that the judiciary should be independent. If he had not done that, perhaps some of the verdicts that we're getting today may have been different. I want to encourage him to continue in that light.

11. I believe that his non intervention in the judiciary has produced positive results for the country today. A few places people were getting ready to burn down places today have sheathed their swords because the rule of law prevailed.

12. We want to as well thank our party, the Labour Party, and its leadership for remaining steadfast and prayerful. Today, that effort has been rewarded with success, given the verdict from the Supreme Court.

13. We will not forget our lawyers, led by the learned silk, Abiodun Owonikoko SAN, for the good job he did from the tribunal through the Court of Appeal and this time the Supreme Court. There is Prof Fatoke SAN; there is Onyechi Ikpeazu SAN, representing the party; there is Ken Ahia SAN; Sonny Ajala SAN; Echezona Etiaba SAN; and many other Senior Advocates, who have stood behind us, some of them had rendered their services gratis and we want to just say thank you to all of these people.

14. We will not forget INEC, which in Abia State ensured that the right thing was done. That is why we have this victory. We should not forget that in 2015, we also had the same victory but unfortunately those at the helm of affairs at that time succumbed to pressure and declared the wrong result. But today INEC insisted and declared the result as recorded in the different collation centres.

15. I want to use this opportunity to thank all the governorship candidates of the various parties, particularly those ones that did not go to court and I would like to start by congratulating and thanking Engr Enyinnaya Nwafor, who actually came third in that election and he didn't go to court.

16. I want to also thank Prof Gregory Ibe of APGA, who came fifth in that election. There were other candidates like Bishop Sunday Onuoha of the ADC and Iro Ukpai of the NNPP. These candidates not only congratulated us but have been supporting us.

17. I also use this opportunity to thank our anointed men and women of God, who had supported us and continually lifted us up in prayers.

18. Members of the National Assembly, who have supported us wholeheartedly, some of them are here present, my prayer is that God will visit you.

19. I will not forget my family, my wife, Lady Priscilla Chidinma Otti, my three wonderful children, the extended families; I want to say thank you to all of you, a lot of friends, a lot of relations, I want to say, thank you. Wherever you are, we are not forgetting you.

20. Now, we have refused to get distracted by some of this litigation all over the place. Our promise is that we will never get distracted. This is the time to give ultimate good governance to our people; to redeem our people; to take our people from the back waters and we must do it because that is why we were elected.

21. We want to restore the dignity of the Abia man. We want any time Abia is mentioned that people will say good things about us. That is the reason why we are here. Any time we're building roads, any time we're retrofitting schools and hospitals, we want our state to reckon positively in the comity of states in Nigeria.

22. I have a word for our brothers and sisters from Obingwa. If you followed the adoptions two days ago, our lead counsel, Abiodun Owonikoko SAN, said that he had followed elections in Abia, and actually he had been our lawyer since 2015. Obingwa had lent itself as a place where elections are rigged and where results are manipulated. It is instructive to say that it is not the whole Obingwa. It is a few people in the former ruling party, who had constituted themselves into instruments of manipulation, not because of the benefits that Obingwa would receive but for self interest. I'm happy to announce that a new crop of leaders have emerged from Obingwa and we're going to support them.

23. Some of them attend churches and what the Bible tells us is that righteousness exalts a nation, so if you did not win an election, it is sin for you to pretend that you won an election.

24. Obingwa is very important place to me because it is part of the places that I grew up in Abia State and at that time when my father was alive, we lived in Obingwa for a few years and I actually finished my primary school in Obingwa, and I know that Obingwa people are not fraudulent.

25. We now send clear message to them that all the so-called stakeholders and evil manipulators, who have put Obingwa in the wrong side of the land, they should now retire because we have a new crop of young people, who want the right thing to be done; who do not want to be known as an empire where manipulations and fraud and scam come from. We are people with dignity and we should maintain and respect that dignity.

26. Distinguished ladies and gentlemen, let me thank you for listening to me but before then, I must invite everyone including my opponents, the ones that were in the courts with me, to say, now that the battle is over, you should sheath your swords. I invite you to come with every idea you have let us sit down and discuss because the most important thing is Abia State and anybody that has anything to contribute to the positive development of Abia State is welcome irrespective of your political leaning, irrespective of your ethnic leaning, irrespective of your religious leaning. We are one and the same people and from now on, division will not be allowed in Abia State. So, we are now in one boat and this boat is large enough to accommodate us.

27. On the basis of this, distinguished ladies and gentlemen let me thank you for listening and I know that together, we shall move Abia State to an enviable level. Thank you and God bless you.

28. Before I go, finally, I would like to congratulate my colleagues, who had won today and even before now. My friend and brother Pastor Eno Umoh of Akwa Ibom, congratulations. Earlier today, my friend and brother Governor Babajide Sanwo-Olu of Lagos State was affirmed and I say, congratulations. There were also Governor Mutwang of Plateau State; Zamfara State Governor, Dauda Lawal; Abba Kabir Yusuf of Kano State; Bala Muhammed of Bauchi; Barr Nwaifuru of Ebonyi State, I congratulate all the winners.

29. The same message I have for my opponents in Abia is what I have for all the other opponents in the different states. You should now don't look for another court to go to. Sheath your swords and work together as brothers and sisters for the development of your respective states.

- DR. ALEX C. OTTI, OFR

A chieftain of the New Nigeria People’s Party (NNPP), Buba Galadima, says the country could have been on fire had the Supreme Court sacked Governor Abba Yusuf of Kano State during its epochal judgements last Friday.

Galadima also congratulated President Bola Tinubu of the All Progressives Congress (APC) for not interfering with the independence of the judiciary though his partyman, Nasir Gawuna, was involved in the matter.

“I am congratulating Mr President for not interfering with the judiciary because Nigeria could have been on fire by now if what happened on Friday did not happen,” the NNPP chieftain said on Channels Television’s Sunday Politics.

“I congratulate him (Tinubu) for having the strength of character and you can see that peace has pervaded the whole of Nigeria and our rating in the eyes of the world has come out.”

Last Friday, the apex court delivered judgements in eight governorship disputes, upturning the verdicts of lower courts in three of the cases, setting a precedent rare as hen’s teeth in the nation’s judiciary.

Of the eight cases, those of Kano, Zamfara and Plateau eerily stood out as the Supreme Court overruled the earlier decisions of the tribunal and the appellate court to reinstate the governors in the three states, a development that has been most applauded by opposition NNPP and the Peoples Democratic Party (PDP) who now control Kano; as well as Plateau and Zamfara, respectively.

Before Friday’s judgement on Kano governorship dispute, tension was high and anxiety palpable in the North-West state which has been a battleground between APC gladiators like ex-Kano governor and current national chairman of the ruling party, Abdullahi Ganduje; as well as opposition heavyweights like 2023 NNPP presidential candidate, Rabiu Kwankwaso.

Though NNPP’s Yusuf and Kwankwaso’s ally was declared as winner of the March 2023 poll by the electoral umpire, both the tribunal and the appellate court subsequently sacked Yusuf and declared APC’s Gawuna as the winner of the election, sparking pockets of violence-tainted demonstrations in the ancient city of Kano.

Yusuf approached the apex court to seek redress and the justices reversed his sack and declared him as the duly elected governor last Friday, eliciting wild spread jubilation from NNPP supporters and red-capped Kwankwasiyya members in Kano.

Speaking on Channels Television’s Sunday Politics, Galadima said there was a plan to wrest power from the NNPP in Kano as the party kicked out the APC from the seat of power in the last poll.

“There was a plan to take Kano by force from every level,” he alleged, even as he congratulated the Supreme Court for “restoring the honour, dignity of the judiciary”.

“If they had ruled otherwise, they could have been stoned on the street of Nigeria and nobody could be able to ride a car with the inscription of Supreme Court of Nigeria, and there would have been a total of confidence in the judiciary and I don’t think anybody would ever dream of going to the Supreme Court to seek redress,” the NNPP chieftain said.

The seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery for the lifting and distribution of refined petroleum products produced by the $20bn plant.

Dealers under the aegis of the Major Oil Marketers Association of Nigeria confirmed on Sunday that with the registration, they would commence the distribution of fuel produced from the facility once the commercial terms are sorted.

This came as the Independent Petroleum Marketers Association of Nigeria also revealed that they would meet with the management of the Dangote refinery this week to discuss terms of product loading.

Similarly, the Petroleum Products Retail Outlets Owners Association of Nigeria stated that PETROAN had been engaging the management of the multi-billion dollar refinery for the supply of products from the facility.

As IPMAN and PETROAN engage the refinery, major marketers who are members of MOMAN have already registered with the plant and are set to start buying products.

The seven major marketers include 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc and NNPC Retail.

On Friday, the Dangote Petroleum Refinery announced the commencement of production of Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel. 

The President of the Dangote Group, Aliko Dangote, had in a statement issued by the firm, thanked President Bola Tinubu for his support, encouragement, and thoughtful advice towards the actualisation of the project.

He also thanked the Nigerian National Petroleum Company Limited, Nigerian Upstream Petroleum Regulatory Commission, Nigerian Midstream and Downstream Petroleum Regulatory Authority, and Nigerians for their support and belief in the historic project.

“We have started the production of diesel and aviation fuel, and the products will be in the market within this month once we receive regulatory approvals. This is a big day for Nigeria. We are delighted to have reached this significant milestone.

“This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects. This is a game changer for our country, and I am very fulfilled with the actualisation of this project,” Dangote stated.

The refinery, located in Lagos, has so far received six million barrels of crude oil at its two SPMs located 25km from the shore. The first crude delivery was done on December 12, 2023, and the 6th cargo was delivered on January 8, 2024.

The refinery can load 2,900 trucks a day at its truck-loading gantries. The products from the refinery will conform to Euro V specifications, according to the firm.

“The refinery design complies with the World Bank, US EPA, European emission norms, and Department of Petroleum Resources emission/effluent norms, employing state-of-the-art technology,” the company stated.

The Dangote Petroleum Refinery and Petrochemical Project, a subsidiary of Dangote Industries Limited, is a 650,000 barrels per day crude oil refinery, located in Dangote Industries Free Zone, Ibeju-Lekki, Lagos, Nigeria.

The Dangote Petroleum Refinery is an industrial plant that transforms crude oil into various usable petroleum products such as diesel, gasoline, jet fuel, and kerosene.

Dangote Petroleum Refinery with a capacity to refine 650,000 barrels of crude oil per day covers an area of approximately 2,635 hectares in the Lekki Free Trade Zone in Lagos.

MOMAN ready

When contacted and asked whether major oil marketers would be involved in the lifting of refined products from the Dangote refinery, or whether the facility would distribute the fuel itself, the Executive Secretary/Chief Executive Officer, MOMAN, Clement Isong, replied, “I confirm that we (major marketers) have met with him (Dangote).

According to Isong,   all MOMAN members have registered with Dangote Petroleum Refinery to become marketers of its products. He told The PUNCH that MOMAN members would have the product in their stations the moment it was available for sale.

“We have all registered with Dangote so that we call buy and sell. All my members are registered with Dangote. Whenever the product is ready and starts coming out, you will see it in our filling stations,” he said. 

I confirm that my members have registered with them. We were waiting for the production to start and now it has started and they will start discussing the commercial terms. So yes, major marketers and other players will buy for the market. The important thing was the registration.

“So now the commercial terms will be agreed with each marketer and then they will buy from them. There are several ways you can buy from them. They have loading ranks, over 90, so you can take your truck to go and pick. You can also use vessels to pick. Those are the two ways you pick products.”

Asked to state how soon marketers would start picking products from the plant, Isong said, “I don’t know, but I know we started registration last year. So as soon as they say they are ready we will pick the products. Also as soon as the commercial terms are set, my members will pick.”

Former President Muhammadu Buhari inaugurated the Dangote refinery in May 2022. The facility missed its crude oil refining target a number of times due to the non-supply of crude to the plant by oil producers.

It, however, started receiving crude oil batches of one million barrels each in December 2023 and got the 6th batch of one million barrels of crude this month. Officials at the plant had explained that the refinery required six million barrels of crude to commence production.

Meanwhile, the MOMAN CEO expressed excitement about the coming onstream of the refinery but stated that he could not tell what the pricing policy of the refinery would be.

“It should be the market price because you need to recover your cost, and capital, and repay your loans. I don’t know what the market price will be, but I know that with my international experience in the economics of petroleum, nobody does this business to make a loss,” he stated.

The prices of diesel and aviation fuel are fully deregulated commodities, unlike that of Premium Motor Spirit, popularly called petrol, which has been a subject of debate on whether it is being subsidised or not.

Meanwhile, the major marketers CEO further explained that the cost of crude oil would play a major role in determining the cost of fuel from Dangote refinery.

He said, “We expect the price of products to be what is called market price. Remember he has built the refinery at $19bn. He has to refund his loan. He has to pay his contractors. He has to pay the owners of capital.

“I believe he will sell the product at a price that will enable him to recover his costs, both capital and operational costs, and then make a profit. I don’t expect the price to be much different from the market price today.

“You know that crude oil is also priced in dollars, so what’s the difference? The price of crude oil is the same internationally, even if you buy locally. Why will you buy below the cost, unless you want to go back to subsidising. Crude oil is very expensive to produce. A lot of that oil is offshore.

“I’ve heard some people say there will be savings in freight, that might be true. But that is a very small part of the cost. The major part of the cost is the raw material, which is the crude oil; even the refining cost is quite small. I don’t expect a significant drop in price, definitely not N400, that’s very unlikely, in my opinion.”

The President of IPMAN, Abubakar Maigandi, told one of our correspondents that the association would meet the management of Dangote refinery this week to discuss modalities around the loading of products. 

He also stated that independent marketers would not be able to state the project cost of refined petroleum products now, until the commencement of loading.

“It is when we start loading that he can give us the price and then we will know how much to sell,” Maigandi stated.

Asked to state when IPMAN members would start loading, he replied, “We are going to hold a meeting with him this week. No date has been fixed yet for the appointment, but the meeting is to be held this week.”

When questioned further to tell the amount of reprieve Nigerians should expect in firms of the cost of refined products, the IPMAN president said, “We can’t say that yet and wouldn’t want to estimate. So it is after our meeting that we can now tell the direction, especially when we start loading products. However, there will be changes.

“Immediately he starts releasing products, we are assured of the availability of products and there will be no more scarcity, provided that he is producing. Also, it will create employment opportunities.”

Price reduction imminent

On his part, the President of PETROAN, Billy Gillis-Harry, said the cost of refined products would drop marginally, but noted that it would be tough to give a specific amount now. 

On how much reduction in the cost of diesel and aviation fuel should Nigerians expect once the products start hitting the market, he said, “It is difficult to give an exact figure because so many variables are at play.

“However, the fact that the crude oil that is being used is the one for domestic consumption, takes away the cost of freight and insurance from the total cost. So if that has been removed, there is a likelihood that prices will be impacted positively to the benefit of Nigerians.

 “But what exactly will be the price is to be awaited and worked out because, for instance, we don’t know how much he received the crude oil, whether it is in naira or dollar, and those are business information that sometimes is difficult to release.

“However, regardless of whatever the situation is, we should still expect a reprieve, some advantages should come to us. So that is my thinking.”

The PETROAN president faulted the pricing templates that were being released some years back for petroleum products, stressing that the computations were not realistic.

“We kept writing and talking against it. So, of course, when it stopped we were not surprised, because you cannot just do arm-chair projections on these things. There must be empirical values and these values vary day to day, hour to hour, and minute to minute.

“So you can’t just wake up and say this is the price unless you are speculating. And if you are speculating, then you cannot give us a price band. Therefore that information is actually business secrets if a company wishes to post it,” he stated. 

Gillis-Harry also stated that PETROAN had been meeting with the management of the Dangote refinery concerning the supply and distribution of products from the plant.

PETROAN meeting Dangote

“PETROAN has been interfacing with the Dangote refinery for a long time. So we hope that with the production coming in, PETROAN will also speed up and advance discussion on how our members can benefit and how Nigerians can be served better and efficiently.

“We’ve been having discussions with them, because, at the end of the day, Dangote cannot be the one producing and also selling at the retail outlets. We know that in previous times such tendencies were not too far-fetched, but we hope that in this dispensation everybody will do their part,” he stated.

Gillis-Harry noted that the coming onstream of the Dangote refinery means that “the sleeping giant is gradually waking up, and Dangote has fired the opening shot that refining can happen in-country. So it is a thing for us to be glad about. Next is the Port Harcourt refinery

“Nigeria stopped refining crude since the regime of former President Olusegun Obasanjo when we were refining at a minimal capacity. And before he finished his tenure as President, the refining of crude in Nigeria had ground to a halt. So it is a big plus for us that Dangote refinery has started production.”

Also speaking on the coming onstream of the facility, a former President, Association of National Accountants of Nigeria, Dr Sam Nzekwe, expressed excitement about the development and said the cost of refined products should drop. 

“The commencement of production at Dangote refinery is a good development but we await to see what is going to be the prices of products from the facility. We believe that with Dangote refinery, fuel will be cheaper because the cost of logistics in importing fuel will be removed.

“The situation where someone will come to Nigeria to get crude oil, take it abroad, refine it, and bring it back to us as fuel will be gone. So the cost of logistics will be factored into the cost of these refined products. But with the Dangote refinery, I know that that cost will be removed and fuel prices will be reduced.

“This may not be significant, but at least we should see a marginal reduction from the price we pay for fuel now. This will also encourage the NNPC to deliver its refineries and the government should license more players to refine crude. How can you be exporting crude and importing fuel? It is not sensible,” Nzekwe stated.

A national ex-officio of IPMAN, Surajudeen Bada, also expressed joy over the commencement of production at the Dangote refinery and said he was hopeful that the expectations of Nigerians would be met.

 “We hope it will be able to meet the expectations of Nigerians because a lot of Nigerians have expected so much from Dangote in the last year. Now that it is coming up, we hope that it will reduce the current hardship,” he stated.

 When told that Nigerians were expecting a reduction in the price of fuel, Bada said, “I know people are concerned about the price, but if the product is available everywhere and accessible to marketers, competition will set in.

“When we compete among ourselves, we will have to reduce our (profit) margin. Already we have a fixed margin that we should benefit as marketers. But we will be ready to forgo N1, N2 from our margin, and anything we forgo is for the benefit of the masses.” 

On his part, Prof. Ndubuisi Ekekwe, said, “Congratulations to team Dangote refinery. Everything is easy until one is asked to do it. From industry to industry, Dangote has continued to serve his nation and his continent.

“In five years, someone here will say ‘the refinery sector was given to Dangote’, forgetting how it was before Aliko decided to pay attention. And as they continue to talk, who knows, you could pick the power sector, and they will forget how Nigeria has been generating darkness for ages.

“Aliko Dangote we salute because nations rise when great entrepreneurs emerge, not when ‘siddon-look’ analysts bark. Congrats that the refinery is up and running. We want more wins!”

Efforts to speak with the Dangote Group have been unsuccessful since Saturday. The Group Director of Corporate Communication, Anthony Chiejina, had earlier promised to get back to one of our correspondents on Saturday, but he did not do so.

Calls and messages to him on Sunday were not answered nor replied to.

Daniel Bwala, then spokesman for Atiku Abubakar, the candidate of the Peoples Democratic Party (PDP) in the February 2023 presidential poll, says he informed his ex-principal of his meeting with President Bola Tinubu.

“I informed Atiku Abubakar I was going to see the President,” Bwala said on Channels Television’s Sunday Politics programme.

“After I had seen the President, I informed him (Atiku) that I had just seen the President and he replied me that, ‘Thanks Daniel for notifying me’.”

Bwala, a rabid critic of Tinubu, the then presidential candidate of the All Progressives Congress (APC), also said his decision to now support the ex-governor of Lagos State, who won the February 2023 presidential poll, does not mean he betrayed Atiku.

“It’s absolute nonsense for somebody to say because I said I will support President Bola Tinubu therefore I betrayed Atiku,” the lawyer said matter-of-factly on the programme.

He described as absurd, criticisms trailing his sudden-found support for Tinubu whom he flayed during the 2023 politicking process.

In July 2022, Bwala, then an APC member, dumped the ruling party when Tinubu announced his running mate as ex-Borno governor, Kashim Shettima. The lawyer and politician faulted Tinubu for his choice of a Muslim as himself as a running mate and quickly joined the campaign train of Atiku, a Muslim and ex-Vice President, who chose a Christian as running mate in the person of ex-Delta governor, Ifeanyi Okowa.

Bwala was one of the very vocal and unsparing spokespersons of Atiku during the campaign that culminated into the last poll.

However, the lawyer shocked Nigerians last Wednesday when he met with the President at the Aso Villa in Abuja, Nigeria’s political capital, and declared his unalloyed support for him.

Bwala has since attracted a scathing string of criticisms with many questioning his political ideology but the lawyer said “even ideology, you have the right to change ideology”.

The lawyer said his job as Atiku’s spokesman during the last campaign was that of a salesman with the sole responsibility of selling a product and demarketing competitors. Bwala, who made a sharp U-turn, said he never said Tinubu wasn’t fit to be Nigeria’s President, adding that now that Atiku did not win, Tinubu is okay for the job.

Bwala was taciturn in his response when asked whether he was still a PDP member or he has now returned to the APC.

He also said the President did not promise him any appointment in his cabinet during Wednesday visit but he would be willing to work with the President in any capacity offered him in the interest of the Nigerian people.