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How Corruption And Sabotage Are Suffocating Nigeria’s Petroleum Sector

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How Corruption And Sabotage Are Suffocating Nigeria's Petroleum Sector

Nigeria’s petroleum industry, the lifeblood of the country’s economy, has been shrouded in controversy and corruption for decades. Recent revelations have exposed a complex web of graft, sabotage, and mismanagement, threatening the very foundation of the sector.

Former President Olusegun Obasanjo recently shed light on the industry’s rot, revealing that corruption and mismanagement have been entrenched since the 1970s. “The petroleum industry has been a curse rather than a blessing,” he stated, emphasizing the need for urgent reforms.

The latest controversy surrounds the ongoing row between the Nigerian National Petroleum Corporation (NNPC) and Dangote Refineries. The NNPC has accused Dangote Refineries of attempting to monopolize the industry, while Dangote Refineries claims the NNPC is trying to sabotage its operations.

Nigeria’s refineries, which have not functioned optimally in years, have swallowed billions of dollars in maintenance and turnaround costs. The Port Harcourt refinery, for instance, has gulped over $1.5 billion since 2015, with little to show for it. The Kaduna refinery has also received billions in funding, yet remains idle. In total, Nigeria’s refineries have received over $10 billion in funding since 2015, with no significant improvement in production.

The importation of Premium Motor Spirit (PMS) has also been marred by corruption, with reports of inflated prices, fake subsidies, and round-tripping. In 2020 alone, Nigeria spent over N1 trillion on PMS importation, with allegations of fraud and mismanagement. This figure represents a significant portion of the country’s annual budget, highlighting the massive financial burden of corruption in the industry.

OPEC indirectly hinted at international impediments in Nigeria’s petroleum industry, citing “external factors” affecting production and pricing. This statement underscores the global implications of Nigeria’s petroleum woes. Nigeria’s production quota with OPEC is 1.8 million barrels per day, but the country currently produces around 1.2 million barrels per day, resulting in significant revenue losses.

The Senate has established a committee to investigate reports of sabotage and corruption in the industry. The committee’s mandate is to investigate the non-functional refineries and associated costs, examine the PMS importation process and identify areas of corruption, and uncover international impediments affecting the industry. To address the challenges facing the petroleum industry, Nigeria must adopt a multifaceted approach. Transparency and accountability must be prioritized, with urgent rehabilitation of refineries and diversification of the economy to reduce dependence on oil. International cooperation is also crucial to address global impediments affecting the industry.

By taking these steps, Nigeria can unlock the full potential of its petroleum industry and achieve sustainable progress. The ongoing row between the NNPC and Dangote Refineries must be resolved, and the industry must be opened up to competition and investment.

The Black Gold Curse can only be lifted by confronting the corruption and sabotage head-on. Nigeria cannot afford to continue hemorrhaging billions of dollars in the petroleum sector. The time for action is now.

According to industry experts, Nigeria loses over $15 billion annually due to corruption in the petroleum industry. This staggering figure highlights the urgent need for reforms and accountability in the sector.

In conclusion, the Nigerian petroleum industry is at a crossroads. The choice is clear: continue down the path of corruption and sabotage or embrace transparency and accountability. The future of Nigeria’s economy depends on it.

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Trump, Mamdani Strike Conciliatory Tone After ‘Productive’ White House Meeting

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Trump, Mamdani Strike Conciliatory Tone After ‘Productive’ White House Meeting

 

United States President Donald Trump and New York City Mayor-elect Zohran Mamdani set aside years of political hostility on Friday as both men emerged from a meeting at the White House pledging to work together for the good of America’s largest city.

 

Speaking to reporters after the Oval Office session, Trump commended Mamdani’s “incredible” victory in the New York mayoral election, praising his campaign’s strong focus on tackling the high cost of living.

 

The president, who had previously labelled the progressive lawmaker a “jihadist” and questioned his citizenship, said their conversation marked a positive turning point.

 

“We’ve just had a great, really productive meeting,” Trump said. “We both want this city we love to do very well. He ran an incredible race and won easily.”

 

Mamdani, who will become the first Muslim mayor in New York City’s history, described the meeting as cordial and centred on shared concerns, notably rent, utilities, and rising grocery prices, issues, he said are placing immense pressure on working families.

 

“It was a productive meeting grounded in our mutual admiration for New York City,” he said.

 

“We discussed how to address affordability and support the people who make this city home.”

 

Despite Friday’s conciliatory tone, the two men share deep ideological differences.

 

Mamdani, a democratic socialist, is known for advocating immigrant rights and opposing Trump’s past proposals, including the controversial Muslim travel ban.

 

Yet he insisted that political disagreements would not hinder cooperation.

 

“The president and I are very clear about our differences. But today’s meeting focused on our shared purpose—serving New Yorkers,” Mamdani said.

 

“That’s what matters for the 8.5 million people facing a cost-of-living crisis, with one in four living in poverty.”

 

He referenced a video he posted after the 2024 election, showing him speaking with Trump supporters about affordability and foreign policy.

 

Those conversations, he said, affirmed the possibility of bipartisan consensus on issues such as ending long-term military engagements and lowering household costs.

 

With polls showing widespread economic anxiety across the United States, Trump has in recent weeks applauded Mamdani’s affordability agenda, an issue analysts say could shape both men’s political trajectories in the coming months.

 

Mamdani is expected to assume office with a mandate to tackle New York’s escalating living costs, while the president’s outreach to the incoming mayor signals an attempt to calm tensions as both leaders prepare for a challenging year ahead.

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Kwara Church Attack: Police, DSS Arrest Suspected Bandits’ Armourer, Logistics Suppliers

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Kwara Church Attack: Police, DSS Arrest Suspected Bandits’ Armourer, Logistics Suppliers

 

Kwara State has stepped up its security operations following Tuesday’s assault on the Christ Apostolic Church (CAC), Oke-Isegun, Eruku, in Ekiti Local Government Area, where two people were killed and several worshippers, including the pastor, were abducted.

 

In a statement issued by Ibraheem Abdullateef, Senior Special Assistant on Communications to Governor AbdulRahman AbdulRazaq, security agencies have recorded major breakthroughs in the ongoing crackdown on criminal networks across the state.

 

According to the statement, operatives of the Nigeria Police Force and the Department of State Services (DSS) have arrested a number of suspects accused of aiding bandit activities.

 

Among those in custody is a man from Makurdi, Benue State, who allegedly confessed to repairing weapons for criminal gangs operating within Kwara’s forest areas.

 

Security operatives also apprehended several individuals said to be supplying food, fuel, drugs and other essential materials to the bandits in their hideouts, activities authorities say have enabled the criminals to sustain their operations.

 

At Friday’s Security Council meeting, Governor AbdulRazaq and heads of security agencies reviewed updates on the Eruku church attack.

 

The session observed a minute of silence in honour of the victims as the governor reiterated his administration’s commitment to public safety.

 

The council thereafter approved joint security patrols across the state, a move aimed at strengthening surveillance and forestalling further attacks ahead of the festive season.

 

The Eruku incident has again drawn attention to rising insecurity in Nigeria’s north-central region.

 

Earlier this month, US President Donald Trump made claims of targeted attacks on Christians in Nigeria, prompting the Federal Government to dismiss the allegations as inaccurate.

 

President Bola Ahmed Tinubu subsequently dispatched a delegation led by National Security Adviser Nuhu Ribadu to the United States to engage lawmakers and clarify Nigeria’s security efforts.

 

Meanwhile, in a separate development, suspected bandits have abducted four rice farmers in Bokungi village, Edu Local Government Area.

 

Witnesses said the gunmen ambushed the farmers during harvest and whisked them away into the bush.

 

State authorities say intensified operations are ongoing to track the perpetrators and rescue the abducted victims.

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Hurricane Melissa: CARICOM Reaffirms Support for Jamaica, Haiti

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Hurricane Melissa: CARICOM Reaffirms Support for Jamaica, Haiti

 

CARICOM Secretary-General, Dr Carla Barnett, has restated the Community’s solidarity with Jamaica and Haiti following the devastation caused by Hurricane Melissa, saying the disaster reinforces the urgent need to strengthen regional resilience against climate change.

 

Dr Barnett made the remarks at the opening of the 61st Regular Meeting of the Council for Trade and Economic Development (COTED), where she also highlighted the importance of the CARICOM Single Market and Economy (CSME) in supporting sustainable growth amid recurring climate shocks.

 

She expressed sympathy to the Governments and people of Jamaica and Haiti over the loss of lives and widespread damage caused by the storm.

 

She commended the response of regional bodies, including the Caribbean Disaster Emergency Management Agency (CDEMA), the Caribbean Public Health Agency (CARPHA), private sector groups and other regional partners.

 

The Secretary-General also referenced the recent visit of four CARICOM Heads of Government to Jamaica as a strong demonstration of regional unity and a signal of continued support.

 

“The experience leaves us in no doubt about the urgency of addressing the existential threats posed by climate change and the need to redouble our efforts to build resilience and foster sustainable development across our Region,” she said.

 

“Strengthening our trade and economic performance is a critical part of this, and COTED must continue to play its important role in this regard.”

 

Chairing the meeting, Belize’s Minister of State for Foreign Trade, Hon. Marconi Leal, noted that the Region was dealing with complex global and domestic challenges that continue to test the resilience of individual Member States.

 

He said Hurricane Melissa further exposed the Caribbean’s vulnerability to climate threats, stressing the need for deeper cooperation and coordinated recovery efforts.

 

Minister Leal said COTED would deliberate on critical issues, including advancing the free movement of CARICOM nationals, implementing the Community’s Industrial Policy and Strategy 2035, and support measures under Article 164 of the Revised Treaty of Chaguaramas.

 

The 61st Regular Meeting of COTED reaffirmed CARICOM’s commitment to strengthening regional trade, deepening economic integration and advancing sustainable development across the Community.

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