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IPMAN Backs Appointment of Cordier by NNPC

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IPMAN 2.5 million Members

By Adedapo Adesanya

Following a spate of backlash faced by the Nigerian National Petroleum Company (NNPC) Limited over the appointment of a French-Swiss national, Mr Jean-Marc Cordier, as the head of the company’s oil trading subsidiary, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has shown solidarity with the state oil company.

NNPC recently announced Mr Cordier to head NNPC Trading Limited, making him the second after another expatriate, Mr Hubb Stockman, who heads NNPCL Retail Limited.

The announcement of the employment of foreigners to head NNPC Ltd subsidiaries has triggered mixed reactions among Nigerians, especially since the Nigerian Content Development and Monitoring Board is targeting 70 per cent Nigerian content in the oil and gas sector by 2027.

IPMAN, reacting to this, said the decision of NNPC Limited to engage foreigners was the best innovation for Nigeria’s oil and gas sector, as it shows that NNPCL was committed to operational effectiveness and efficiency of the downstream sector of the industry.

IPMAN Chairman in Rivers State, Mr Joseph Obele, said before now, marketers had to bribe and lobby to get product allocation from NNPC.

This, he claims, will end, as he charged the new bosses to ensure the necessary things are done.

He also tasked Mr Stockman to end the suffering of marketers by introducing the seamless application, approval, and allocation of products to marketers.

Mr Obele urged the management of NNPC Limited not to be distracted by the protesters, who he described as friends of the corrupt regime and enemies of reformations and also tasked them to engage more foreigners to handle key offices.

“The decision to engage foreigners is the best innovation for the downstream sector of Nigeria’s oil & gas industry, and we found nothing wrong with the development as it will usher in a corrupt free system. It will eradicate ethnic dominance, survival of the fittest, jumping the queue, bribery, and religious connections.

“Evidence and observations show that engagement of a foreigner in the person of Mr Hubb Stockman as the Managing Director of NNPCL Retail Ltd. has brought a series of reformations in the downstream sector as it concerns retail outlets.

“It takes less than one hour to apply for a product on the portal and get approval electronically. You don’t need to make any phone calls, beg or neither bribe anyone to get your allocation as a licensed Petroleum Marketer with NNPC Retail Ltd.

“Before now, you will have a make several phone calls, bribe some officers, travel to Abuja for lobbying or contact someone who knows someone for you to get your allocation.

“Mr Hubb Stockman is less than five months in office as the Managing Director of NNPC Retail Ltd, and the achievements are obvious for all to see.

“The process of applying for allocation is now automated courtesy of Mr Hubb Stockman’s team. Petroleum Marketers now apply for Products from the comfort of their homes and get approval automatically without any stress.

“The automated system is configured in such a way that each Marketer gets one truck within seven days. This is a great achievement for us in the industry, as it has eradicated the dichotomy between super marketers and lesser Marketers. Each marketer gets one truck of PMS per retail outlet in seven days irrespective of the status of the Marketer.”

The IPMAN chairman also revealed that it was easier to access the expatriates than it was difficult to access other Nigerian managers, drawing on a recent experience.

“Recently, we visited Mr Hubb Stockman in his office in Abuja, it didn’t take five minutes to see him, and you don’t need to pass through any Personal Assistant or junior manager to see him. Family members and friends of previous Managing Directors of PPMC will make things difficult for anyone to see the MD in the office. The case is different with foreigners in the office as we speak, you can reach him on the phone anytime, and you can see him in the office as a marketer without connections.

“With the recent reforms in the sector, you don’t even need to see or visit the MD for any reason. Nigerians should be watchful to ascertain the intent of those that are aggrieved with the engagement of foreigners to head key subsidiaries of NNPC Ltd.

“We had earlier alerted that the beneficiaries of the bottleneck administration will not be comfortable with the reformations. The expatriation process involves many technical and professional aspects.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Tinubu Leaves Nigeria Monday for Türkiye on State Visit

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Tinubu Türkiye

By Aduragbemi Omiyale

On Monday, January 26, 2026, President Bola Tinubu will leave Abuja for Türkiye for a state visit aimed at “strengthening the existing cordial relations between the two countries and exploring further areas of cooperation in security, education, social development, innovation, and aviation.”

This is according to a statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.

The president’s spokesman disclosed that the visit is to reciprocate an official two-day visit of Turkish President, Mr Recep Tayyip Erdogan, to Nigeria on October 19, 2021.

Mr Tinubu, according to the statement, will be going to European nation along with other senior government officials, including the Minister of Foreign Affairs, Mr Yusuf Tuggar; the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN); the Minister of Defence, Mr Christopher Musa; and the chairman of the House Committee on Defence, Mr Jimi Benson.

Others on the entourage of the president are the Minister of Women Affairs and Social Development, Ms Imaan Suleiman-Ibrahim; the Minister of Interior, Mr Olubunmi Tunji-Ojo; the Minister of Culture and Creative Economy, Ms Hannatu Musawa; the National Security Adviser (NSA), Mr Nuhu Ribadu; and the Director-General of the National Intelligence Agency (NIA), Mr Mohammed Mohammed.

During the visit, both countries will engage in strategic political and diplomatic discussions on shared values in finance, communication, trade and investment.

The agenda will include meetings between high-ranking officials of both nations and the signing of memoranda of understanding (MoUs) in scientific research, energy, technical cooperation, media and communications, military cooperation and protocol, among others.

A business forum will bring together investors from both countries to explore areas of interest during the visit, with Mr Tinubu expected to return to Nigeria afterwards.

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Lagos, NGX Group, HEI Expand Project BLOOM to Alimosho

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NGX group Project Bloom alimosho

By Aduragbemi Omiyale

Over 120 malnourished children in Alimosho Local Government Area of Lagos State have been given nutritional support, medical screening, and caregiver education.

This was made possible through an initiative known as the Project BLOOM (Bringing Life to Our Overlooked Minors) put together by the Nigerian Exchange (NGX) Group Plc in partnership with the Lagos State government and the Health Emergency Initiative (HEI).

NGX Group staff volunteers worked alongside Lagos State health workers and HEI facilitators during the outreach, assisting with screenings and data recording. Structured follow-up visits are scheduled after four weeks to monitor recovery and provide extended care where necessary.

The Alimosho programme was the third under the initiative. The beneficiaries were hosted at the Lagos State Health District I.

Earlier, the initiative benefitted residents of Yaba and Ajegunle. Over 320 children and 300 caregivers were reached, with monitoring data showing that more than 50 per cent of beneficiaries in the first two phases entered recovery.

The chief executive of NGX Group, Mr Temi Popoola, linked the initiative to broader economic resilience, saying, “Sustainable capital markets are built on strong social foundations. The recovery rates we see with Project BLOOM prove that targeted, collaborative action between the public sector, civil society, and the private sector can deliver tangible impact.”

Also, the Executive Director of HEI, Achunine Pascal, said child malnutrition remains a major contributor to under-five mortality in Nigeria, adding that Project BLOOM is designed to go beyond immediate food support through structured follow-up and continued care.

On his part, the chairman of Alimosho Local Government Area, Mr Akinpelu Ibrahim Johnson, said the initiative supports the council’s long-term strategy for improving child nutrition through early detection, prevention, and effective management of malnutrition.

Representing the Permanent Secretary, Lagos State Health District I, Dr. Solomon Adeyanju commended NGX Group for its commitment to child health, describing Project BLOOM as a valuable complement to the state’s primary healthcare efforts.

With additional outreaches planned, the partners reaffirmed their commitment to reducing preventable child mortality while strengthening the social foundations required for sustainable economic growth.

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SERAP Sues Adelabu, NBET Over Alleged Missing N128bn

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Adebayo Adelabu

By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Minister of Power, Mr Adebayo Adelabu, and the Nigerian Bulk Electricity Trading (NBET) Plc before a Federal High Court in Abuja over their failure to account for an alleged missing N128 billion public funds.

The group in a statement on Sunday by its Deputy Director, Mr Kolawole Oluwadare, said the suit, marked FHC/ABJ/CS/143/2026, was filed last Friday following allegations contained in the Auditor-General of the Federation’s report published on September 9, 2025.

In the lawsuit, SERAP is seeking an order of mandamus compelling Mr Adelabu and NBET to account for what it described as “the missing or diverted N128bn from the Ministry of Power and NBET.”

The organisation is also asking the court to direct the defendants to disclose “details of how the missing or diverted N128bn was spent, including the dates of disbursement and the purported beneficiaries or contractors who received the money.”

SERAP further urged the court to compel the disclosure of “the full names, official designations and offices of all public officers who authorised, approved or otherwise participated in the release of the missing or diverted N128bn.”

According to the group, Nigerians have continued to suffer the consequences of corruption in the electricity sector, particularly amid recurring grid collapses and erratic power supply.

“Nigerians continue to pay the price for the widespread and grand corruption in the power sector,” the group said, adding that “there is a legitimate public interest in ensuring justice and accountability for these grave allegations,” arguing that granting the reliefs sought would help tackle systemic failures in the sector.

“Granting the reliefs sought would contribute to tackling corruption in the power sector and addressing the persistent breakdown of transmission lines in the country, as well as improving access of Nigerians to regular and uninterrupted electricity supply,” it stated.

The group further warned that corruption has deepened hardship for electricity consumers, noting that “ordinary Nigerians continue to pay the price for corruption in the electricity sector—staying in darkness, but still made to pay crazy electricity bills.”

The suit, filed by SERAP’s lawyers, Mr Kolawole Oluwadare, Ms Kehinde Oyewumi and Mr Andrew Nwankwo, relied heavily on findings from the Auditor-General’s 2022 audited report, which detailed multiple alleged financial irregularities involving the Ministry of Power and NBET.

The organisation stressed that public institutions are legally bound to ensure transparency, accountability, and the abolition of corrupt practices.

No date has been fixed for the hearing of the suit.

Business Post had reported earlier that Mr Adelabu claimed that the missing money happened prior to his appointment as the minister of power.

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