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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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40 Dead, 119 Injured in Swiss Ski Resort Bar Fire

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40 Dead, 119 Injured in Swiss Ski Resort Bar Fire

 

No fewer than 40 persons have been confirmed dead following a devastating fire outbreak at a bar in the Swiss ski resort town of Crans-Montana on New Year’s Eve, Swiss police have said.

 

Authorities on Sunday confirmed that the bodies of all 40 victims have now been identified.

 

The victims were aged between 14 and 39 years, with 15 of them under the age of 18.

 

The youngest victims were a 14-year-old Swiss girl and a 14-year-old French boy.

 

The deceased were drawn from several nationalities, including Swiss, Italian, Romanian, Turkish, Portuguese, French and Belgian citizens, as well as nationals of the United Kingdom, France and Israel, underscoring the international nature of the tragedy at the popular Alpine resort.

 

In addition to those killed, 119 people sustained varying degrees of injuries, most of them severe burns.

 

Police disclosed that six of the injured are in such critical condition that they have not yet been identified.

 

The fire broke out at Le Constellation bar, a venue known to be popular with young people in Crans-Montana, where the legal drinking age is 16.

 

A preliminary investigation indicated that sparklers attached to bottles and held too close to the ceiling may have ignited the blaze.

 

Swiss prosecutors have since opened a criminal investigation into the French couple who managed the bar.

 

The couple, identified by the media as Jacques and Jessica Moretti, are suspected of manslaughter by negligence, bodily harm by negligence and arson by negligence, according to the Valais regional prosecutor’s office.

 

The lead prosecutor in Valais canton, Ms Beatrice Pilloud, said investigators are examining whether the acoustic foam installed on the bar’s ceiling contributed to the rapid spread of the fire and whether it complied with existing safety regulations.

 

Police said no further personal details of the identified victims would be released out of respect for their families.

 

However, some relatives have begun to speak publicly as the scale of the tragedy sinks in.

 

On Saturday night, the mother of one of the victims, Ms Brodard-Sitre, announced via Facebook that her 16-year-old son, Arthur Brodard, was among those who died.

 

In an emotional video message, she said the family could now begin mourning, “knowing that he is in peace and in the light,” adding that her son had “left to party in paradise.”

 

Earlier, while Arthur was still listed as missing, his mother told local newspaper Le Temps that she had been “living a nightmare,” revealing that some of his friends had suffered burns to nearly half of their bodies.

 

“There are no words – they went through hell,” she said.

 

Italian media also identified 16-year-old junior golfer, Emanuele Galeppini, as one of the victims.

 

The Italian Golf Federation paid tribute to the teenager, describing him as a “young athlete who carried passion and authentic values.”

 

His father reportedly confirmed that the boy was at Le Constellation on the night of the incident, although Italian authorities had initially declined to confirm his death.

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US Denies War With Venezuela as Tensions Rise After Maduro’s Capture

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Trump Revamps US-Africa Relationship

US Denies War With Venezuela as Tensions Rise After Maduro’s Capture

 

The United States has insisted it is not at war with Venezuela, a day after US forces carried out strikes that led to the capture of Venezuelan President Nicolás Maduro and his wife, Cilia Flores, in an operation that has sharply escalated tensions between the two countries.

 

US Secretary of State, Marco Rubio, said on Sunday that Washington’s actions should not be interpreted as a declaration of war, stressing that the operation was “limited and targeted.”

 

His comments came amid international concern over the implications of the US military action and growing uncertainty over Venezuela’s political future.

 

According to a spokesperson, Maduro and Flores are expected to appear in a US court on Monday, following their arrest.

 

The charges they will face were not immediately disclosed, but US officials have previously accused Maduro’s government of corruption, drug trafficking and human rights abuses.

 

Venezuela’s Defence Minister, Vladimir Padrino, confirmed that the US operation resulted in significant casualties, claiming that a large part of Maduro’s security team was killed, alongside what he described as “innocent civilians.”

 

Padrino condemned the strikes as a violation of Venezuela’s sovereignty and accused Washington of using excessive force.

 

In Caracas, the Venezuelan government formally denounced what it called “military aggression” by the United States.

 

In a statement, the Venezuelan armed forces said they remain loyal to interim President Delcy Rodríguez, signaling that Maduro’s allies still retain control of key state institutions despite his capture.

 

Trump, speaking in an interview with The Atlantic, warned that Rodríguez would “pay a big price” if she “does not do what is right,” a remark that has further inflamed tensions and raised fears of additional US pressure or sanctions.

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How US Captured Venezuela’s President Maduro in Daring Overnight Raid

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How US Captured Venezuela’s President Maduro in Daring Overnight Raid

 

United States forces have captured Venezuelan President Nicolas Maduro and his wife, Cilia Flores, following a highly coordinated overnight military operation in Caracas, marking one of the most dramatic US interventions in Latin America in decades.

 

The operation, code-named Operation Absolute Resolve, was launched late Friday after months of surveillance by US intelligence agencies, which closely monitored Maduro’s movements, residences and security arrangements.

 

According to US officials, the mission was finalised in early December after extensive rehearsals, including the construction of a full-scale replica of Maduro’s safe house for training.

 

President Donald Trump authorised the operation at 22:46 EST on Friday (03:46 GMT Saturday), shortly before midnight in Caracas, allowing US forces to operate under the cover of darkness.

 

The mission, lasting just over two hours, involved air, land and sea components and deployed more than 150 aircraft, including fighter jets, bombers and reconnaissance planes.

 

Explosions rocked Caracas around 02:00 local time as US strikes targeted key military installations, including air defence systems, La Carlota air base, Fuerte Tiuna military complex and Port La Guaira.

 

Large sections of the city were plunged into darkness, with Trump later claiming US forces disabled power supplies ahead of the raid.

 

As air strikes continued, elite US Delta Force troops moved into the city and stormed Maduro’s heavily fortified compound.

 

US officials said the troops encountered resistance, with one helicopter reportedly hit, though no US service member was killed.

 

Maduro was apprehended while attempting to reach a secure room inside the compound.

 

By about 04:20 local time, helicopters carrying Maduro and his wife had departed Venezuelan airspace. They are now in the custody of the US Department of Justice and are expected to be transferred to New York to face criminal charges related to drug trafficking and narco-terrorism.

 

The US had previously placed a $50 million reward on information leading to Maduro’s arrest.

 

President Trump announced the capture shortly after, hailing the operation as a major success. “Maduro and his wife will soon face the full might of American justice,” he said.

 

The action has drawn sharp international reactions. Brazil’s President Luiz Inácio Lula da Silva condemned the raid, warning it set a “dangerous precedent” for international relations.

 

In the US, some lawmakers criticised the administration for not seeking congressional authorisation before launching the operation.

 

Despite the controversy, US officials defended the secrecy and timing of the mission, insisting that prior disclosure could have compromised its success.

 

The arrest of Maduro, who has ruled Venezuela since 2013, is expected to have far-reaching political and security implications across the region.

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