FG Not Increasing Fuel Price From N145 – Kachikwu

FG Not Increasing Fuel Price From N145 – Kachikwu
Ibe Kachikwu

 

The Federal Government has allayed the fear of purported increment in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, from N145 per litre.

Addressing reporters on Friday in Abuja, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, asked Nigerians to ignore such reports with an assurance that fuel pump price remains unchanged.

He also criticised those circulating the speculations saying they were being unfair to Nigerians following the difficulty they had gone through during the yuletide.

READ ALSO: PDP Warns FG, APC Against Purported Fuel Price Hike

“We are not increasing price from N145,” said Kachikwu. “I thought we should make this very clear, this is not a matter for speculation; anybody who does speculation is not being helpful to Nigerians.”

“They’ve gone through a very difficult Christmas period. We are working night and day to try and find solutions,” he added.

The minister further said the fuel crisis should not be politicised but rather, the people should support the government’s effort to ensure the nation overcomes the challenge.

He said: “It is not a political issue, people should step out of that goalpost. We want to provide succour to Nigerians, we want to provide product at N145 – that is the presidential mandate, that is the Federal Executive Council mandate; nobody is having a deliberation on that.”

Working Refineries Solution To Fuel Crisis, Says Kachikwu

Kachikwu also briefed journalists on the issues discussed in the past few days at the stakeholders’ meeting which was convened to find a lasting solution to Nigeria’s fuel challenges.

“The essence of our meeting yesterday (Thursday) and the essence of the committee’s meeting which began a few days ago, is to find mechanisms to ensure that queues do not come back to Nigeria,” he said.

“That there is a wetting of all the stations so there’s product available every time for Nigerians, that private marketers who had pulled out of participation – that we deal with their problems so that they can participate effectively in the supply of refined petroleum products in the country; all within the parameters of the N145 pump price,” he added.

Working Refineries Solution To Fuel Crisis, Says Kachikwu

Kachikwu Says Solution To Fuel Scarcity Is To Make Nigerian Refineries Work
file photo

 

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, believes the major solution to the fuel scarcity challenges in the country is for Nigeria to fix its refineries.

Kachikwu gave the recommendation on Thursday during a public hearing convened by the Senate to investigate the fuel scarcity that hit the nation in the last few weeks.

READ ALSO: Senate Interrupts Recess, Summons Kachikwu, NNPC Boss Over Fuel Crisis

He emphasised that Nigeria cannot run away from the fact that working refineries would go a long way to resolve fuel crisis and prevent further occurrence of the hardship the people faced during Christmas and New Year celebrations.

The minister, however, informed the lawmakers that the Ministry of Petroleum and relevant agencies were looking at an 18-month emergency period when they would need to address the pricing issue of the products which was at the centre of the recent fuel crisis.

According to him, the difference between the 170/171 naira landing cost of Premium Motor Spirit (PMS), also known as petrol, and the 145 naira actual cost needs to be addressed.

Kachikwu opined that the difference made the importers of petroleum products to hands off from the importation of fuel as they felt they were not making profit.

He, however, proposed solutions to address such gaps and further recommended some models to address the pricing issues.

One of the recommendations was working with the Central Bank of Nigeria (CBN) to fix an exchange rate of N204 to a dollar for importers, which will enable them to sell petrol at N145.

The other was the ‘plural pricing system’ which will enable NNPC stations to continue to sell petrol at N145 while private importers sell at a price profitable to them.

Senate President Bukola Saraki had directed the Senate Committee on Petroleum Resources (Downstream) to cut short its recess and urgently convene a meeting with stakeholders in the petroleum industry.

Dr Saraki gave the order in December 2017 in a bid to find a lasting solution to the fuel crisis and the untold hardship it was unleashing on innocent Nigerians.

Those present at the meeting are members of the Senate Committee, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, as well as representatives of trade unions in the oil and gas sector among others.

Senate Interrupts Recess, Summons Kachikwu, NNPC Boss Over Fuel Crisis

Senate Interrupts Recess, Summons Kachikwu, NNPC Boss Over Fuel Crisis
File Photo

 

The Nigerian Senate has directed its Committee on Petroleum Resources (Downstream) to cut short its recess and immediately convene a meeting with stakeholders in the petroleum industry.

Senate President Bukola Saraki gave the directive on Thursday amid the ongoing fuel scarcity across the country, especially that of Premium Motor Spirit (PMS), also known as petrol.

A statement from Saraki’s media office said the order was in a bid to end the crisis and the untold hardship it is unleashing on innocent Nigerians.

Fuel Scarcity: NNPC Uncovers Five Illegal Filling Stations In Two Days

NNPC, DAPPMA Trade Words Over Fuel Scarcity
File photo

 

Chairman of the Senate Committee, Senator Kabiru Marafa, also briefed reporters on the steps taken following the directive in Abuja, the Federal Capital Territory.

Senator Marafa said the committee has summoned the Minister of State for Petroleum, Dr Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru.

According to him, the minister and the NNPC boss, as well as other relevant stakeholders in the petroleum sector are to attend a crucial meeting on Thursday, January 4, 2018.

The lawmaker further noted that the meeting would take place inside the Senate Hearing Room 221 where its proceedings would be broadcasted live.

He informed reporters that the discussion would address the lingering fuel scarcity bedevilling the nation in the last few weeks with a view to putting a complete stop to the unsavoury situation.

The Senate is presently on Christmas and New Year break.

The Upper House is billed to resume committee work for budget defence on Tuesday, January 9, 2018, and commence plenary on January 16, a week later.

Meanwhile, the NNPC has assured Nigerians that the fuel scarcity would be over before the weekend as it was already winning the war.

Baru, who addressed reporters on Thursday during an unscheduled visit to errant filling stations in the nation’s capital, said they have uncovered five illegal stations in two days.

He said illegal stations operating were also responsible for fuel crisis, as they rely on diverted products for supply.

“What I want the public to know is that in two days, we are able to identify five illegal stations that have products that obviously have been diverted; because we will not be giving products (to them) under a normal approved procedure of the NNPC.

“They must have gotten this product as diverted and if you divert any truck, you are actually diverting from legal stations,” the NNPC boss said.

Fuel Scarcity: Osinbajo, Kachikwu’s Visit To Oil Depots In Photos

Photo: Twitter// @IbeKachikwu

 

Vice President Yemi Osinbajo and the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, have met with some major petroleum marketers.

The meeting, which held on Christmas day in Lagos amid the fuel scarcity witnessed across the country, followed a visit to some oil depots in the nation’s commercial capital.

READ ALSO: Osinbajo, Kachikwu Meet With Oil Marketers Over Fuel Scarcity

See photos below;

Fuel Scarcity: Osinbajo, Kachikwu Meet With Oil Marketers

Fuel Scarcity: Osinbajo, Kaichkwu Meet With Oil Marketers
Photo: Twitter// @IbeKachikwu — Kachikwu and Osinbajo (from second left)

 

Nigeria’s Vice President, Professor Yemi Osinbajo, and the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, have met with some major petroleum marketers over the issue of fuel scarcity in the country.

Dr Kachikwu said in a tweet that Monday’s meeting, which was ‘productive and collaborative’, was convened as part of efforts by the Federal Government to frontally provide the much-needed solutions to the lingering fuel availability challenges across the country.

Osinbajo, Kachikwu’s Visit To Oil Depots In Photos

The minister said that the government was very much aware of the difficulty Nigerians go through to get the scarce product but that it would soon be a thing of the past.

He informed the people that the government has mandated the Nigerian National Petroleum Corporation and other relevant agencies to ensure the states are flooded with the product.

“Whilst empathising with Nigerians for the needless pain and suffering that the current situation has sprung up, we expect that the fuel availability challenges evidenced by long queues will be completely eliminated, soonest.

“We are leaving no stone unturned as we continue to monitor the current fuel situation and collaboratively work with the NNPC and the Department of Petroleum Resources (DPR) to assiduously execute already communicated ministerial directives to maximally flood the market with products,” Kachikwu said.

He further thanked Nigerians for their understanding and support for the administration of President Muhammadu Buhari, adding that measures are being put in place to prevent a reoccurrence of such incident.

He said: “The bigger picture is to ensure that a repeat of the current challenge is never again experienced; I thank every Nigerian for the support even in the face of challenges. God bless you and I respectfully wish you a splendid holiday and celebration.”

FG To Revive Refineries By 2019 – Kachikwu

FG To Revive Refineries By 2019 – Kachikwu
File photo

 

The Federal Government has revealed plans to resuscitate refineries in the country and return them to a fully functional condition by 2019.

Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said this on Wednesday in Abuja shortly after the Federal Executive Meeting.

READ ALSO: Osinbajo Presides Over FEC Meeting As Buhari Attends One Planet Summit

He said that apart from giving the kiss of life to the plants, the government also targets three refineries for starters to produce at least 450 barrels per day.

Amateur photo: [L-R] Uguru Usani, Ibe Kachikwu, Chibuike Amaechi, and Garba Shehu

The minister also told State House correspondents that the Federal Government has no plans to reduce the price of Premium Motor Spirit (PMS), also known as petrol.

Kachikwu briefed reporters alongside the Minister of Niger Delta Affairs, Uguru Usani; Minister of Transportation, Chibuike Amaechi; and the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.

Vice President Yemi Osinbajo presided over the FEC meeting, which held inside the Council Chamber of the Presidential Villa, in the absence of President Muhammadu Buhari who is attending a summit in France.

Nigeria Requires International Support To Tackle Climate Change Effects – Buhari

FG Directs Kachikwu To End Fuel Scarcity Before Weekend

FG Directs Kachikwu To End Fuel Scarcity Before Weekend
file photo

The Federal Government has directed the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, to end the fuel queues in the country by the end of this week.

The directive was issued on Wednesday during the Federal Executive Council which held inside the Council Chamber of the Presidential Villa in Abuja, Nigeria’s capital.

Minister of Information, Mr Lai Mohammed, briefed State House correspondents after the meeting presided over by Vice President Yemi Osinbajo, in the absence of President Muhammadu Buhari who was on a working visit to Kano State.

He said Dr Kachikwu who was meant to give a brief on the outcomes of the meeting was attending another crucial meeting to end the long fuel queues witnessed across the country

The minister said that government was never planning to increase the pump price of petrol at any time and would never support any such move.

“The government has no intention at all to increase the pump price of Premium Motor Spirit (PMS),” Mr Mohammed said.

“He (Kachikwu) has assured us and I think the Council gave him a marching order, that this thing should not last beyond this weekend and they are going to work very hard to ensure that it is contained,” he added.

Meanwhile, the Minister of Education, Adamu Adamu, informed reporters that the Council has approved six new private universities in some parts of the country.

He said: “The Ministry of Education presented a memorandum to the Federal Executive Council on the establishment of six new private universities, and it has been approved.

“The issue of quality assurance, issue of standard, and the issue of accreditation will be looked into very seriously.”

The newly-approved universities include Admiralty University, Ibusa, Delta State; Spiritan University, Nneochi, Abia State; and Precious Cornerstone University, Ibadan, Oyo State.

Others are Pamo University of Medical Sciences, Port Harcourt, Rivers State; Atiba University, Oyo State; and Eko University of Medical and Health Sciences, Lagos.

NNPC Scandal: Ezekwesili Faults Baru’s Claims, Says Procurement Procedure Breached

A former Director General of the Bureau of Public Procurement, Obiageli Ezekwesili has faulted the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Maikanti Baru for not following due process as recommended by the Public Procurement Act in the award of contracts by the NNPC.

Ezekwesili who is a lead discussant at a roundtable to analyse the issues surrounding the October faceoff between the GMD of the NNPC and the Minister of State for Petroleum, Ibeh Kachikwu argues strongly that the NNPC breached the nation’s public procurement procedures.

READ ALSO: NNPC Scandal: Osinbajo Clarifies Process Of Contract Approval

“The approving authority of the process is not determined by the board. That is where the confusion is coming from. There is the process and then there is the completion of the process and then, the submission of the process to an approving authority,” she said.

Ezekwesili revealed that the NNPC management and the GMD’s claims that there is no power residing on the board to approve contracts is false.

“What the NNPC management and the GMD are saying is that there is no power residing in the board to approve anything that they have done all they need to do is do there process and take it to the president. They are wrong,” she said.

Ezekwesili stressed that there is no provision in the procurement law that says the President or any individual can approve such contracts.

Osinbajo Meets With Kachikwu And Baru

Ijaw Youths Urge Osinbajo To Fulfil His Promise
File photo

Vice President Yemi Osinbajo has met with the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru.

The meeting comes amid the reported scandal at the NNPC after a letter Kachikwu wrote to President Muhammadu Buhari in which he levelled several allegations against Baru was leaked to the public and went viral.

READ ALSO: Kachikwu, Baru Put Differences Aside At Economic Summit

On Tuesday last week, both men, however, set differences aside at the 23rd Nigerian Economic Summit in Abuja where they warmly exchanged pleasantries and posed for photos.

File photo

Vice President Osinbajo later met with the minister and the NNPC boss today (Wednesday) at the Presidential Villa where they discussed operations in Nigeria’s upstream sector.

Kachikwu told State House correspondents after the meeting that despite ongoing litigations, the Federal Government would continue with the development of the $13.5billion Zabazaba Deepwater Oil Field.

The project, situated in Oil Prospecting Lease (OPL) 245, was said to have been acquired by Shell and Agip from Malabu Oil and Gas in 2012 for $1.3 billion dollars.

The acquisition has, however, been the subject of a corruption probe and prosecutions in Italy and Nigeria.

Kachikwu also hinted that the meeting discussed some escrow accounts.

PHOTOS: Kachikwu, Baru Put Differences Aside At Economic Summit

Kachikwu, Baru Put Differences Aside At Economic Summit

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, and the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr Mikanti Baru, put aside their differences at the 23rd Nigerian Economic Summit.

Both men have been at the centre of a scandal after a letter the minister wrote to President Muhammadu Buhari in which he levelled several allegations against the NNPC GMD was leaked to the public and went viral.

Baru, however, broke the silence on Monday describing Kachikwu’s allegations as baseless.

With reactions trailing the feud, both men attended the economic summit on Tuesday in Abuja.

Kachikwu and Baru set differences aside to put guests at ease by warmly exchanging pleasantries and posing for photos.

See photos below;

Don’t Treat NNPC Scandal With Levity, NUPENG Tells Buhari

Minister of State for Petroleum Resources, Dr Ibe Kachikwu, and NNPC Group Managing Director, Dr Maikanti Baru

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called on President Muhamadu Buhari to wade into the allegations of corruption and insubordination raised against NNPC GMD, Maikanti Baru by the Minister of State for Petroleum, Ibeh Kachikwu and not treat the issue with levity.

The group in a statement on Tuesday said the whole world is watching and President Muhammadu Buhari needs to wade into the issue swiftly not treating it with levity.

“The Union advises Mr President not to treat the allegations with levity but with good faith because the world is watching and waiting. It is therefore important that the issue should not be swept under the carpet in view of the Buhari’s administrations fight against corruption and following due process,” the statement read in part.

The statement which was jointly by the President of the group, Igwe Achese and it Secretary, Joseph Ogbebor said the case, if not checked, will adversely affect the progress and development so far made in the Oil and Gas sector.

The Union in the statement also said that the international image of the NNPC is at stake.

“The Union is worried about the bad image internationally the alleged actions have given us. Due process must be followed in the discharge of contractual agreements and those involving JVC’s agreements.

“NUPENG recalled that the challenges facing the NNPC are replete with the bad history of mismanagement with that of Mrs Diezani Alison Madueke still fresh in our minds.”

“We, therefore, call on President Muhammed Buhari to resolve the issues by moving in swiftly to address whatever is causing the ill-affection that has made them to work at cross-purposes in order not to jeopardize the reforms in the Oil and Gas industry.”

NNPC Scandal: Baru Speaks Again, Says Kachikwu’s Claims Are Unfounded

NNPC, GMD, DSS
NNPC GMD, Dr Maikanti Baru

The Nigerian National Petroleum Corporation GMD, Maikanti Baru, has again reacted to allegations of corruption and insubordination raised against him by the Minister of State for Petroleum, Ibeh Kachikwu, describing the allegations as unfounded and unfortunate.

Speaking on Monday when unions in the oil and gas sector, PENGASSAN and NUPENG, paid him a visit, Baru said he did no wrong and repeated his argument that the NNPC board chaired by Kachikwu had no powers to regulate or approve contracts awarded by the state oil company.

READ ALSO: NNPC Scandal Exposes Inconsistency In Our Laws – Lawyer

“I know for those of you who are following what we are doing here, you know that there’s no money lost and no process has been breached. Our contracting process is perfect and we will continue to follow the process.

“The NNPC Board has no role, I repeat, has no role as far as the contracting process is concerned.”

Baru also accused Kachikwu of making up “humongous” contract figures to incite the public, describing the allegations of the award of contracts without regard to due process as “unfounded and unfortunate.”

On the crude term contract and the DSDP agreements, the NNPC GMD said, “These are not contracts as such, they are essentially pre-qualification of off-takers of crude oil and in the case of DSDP, of those that will take crude and give us products in return. So there is no value to them.

“But humongous figures have been put forward mainly to incite the public, it is most unfortunate,” the NNPC GMD said.

On the allegation of lop-sided promotions, the GMD asked the union leaders if their members felt disenchanted to which the unionists chorused a resounding “no”.

He urged the union leaders to enlighten their members on the facts and encourage them to go about their duties without distraction.