Connect with us

General

Vessel Carrying Stolen Crude Intercepted in Delta

Published

on

stolen crude oil

By Adedapo Adesanya

Tanita Security Services, a Nigerian government-approved outfit, has intercepted a vessel allegedly carrying crude oil suspected to have been stolen in the Koko area of Delta State.

The interception happened on Wednesday while the 1117 tons vessel carrying about 8,100 barrels of crude was being escorted by some naval officers.

Tanita Security outfit is a private security company owned by Mr Government Ekpemupolo, popularly called Tompolo, an ex-Niger Delta agitator who recently got a contract from the federal government to protect oil pipelines.

Operatives of the Tanita Security say the vessel, tagged MT Praisel, was flying a Togolese flag and was being escorted by a Navy boat led by a senior naval commander.

The Tanita operatives said they were met with resistance from the navy boat escorting the vessel and that the naval commander threatened to deal decisively with them.

However, the private operatives said it stood its ground and refused to back down.

But they eventually contacted the National Security Adviser, Mr Nuhu Ribadu and the Chief of Naval Staff, Rear Admiral Emmanuel Ogalla, who authorised them to inspect the vessel.

Upon entrance into the ship, the security company says they noticed that the vessel was authorised to carry products by the navy but did not have any approvals from Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the authority responsible for the regulation of the midstream and downstream petroleum operations in Nigeria, for this said voyage.

The incident comes on the heels of the outcry by the federal government that the illegal trade of stolen crude oil inflicts significant economic losses on Nigeria to the tune of N2.3 trillion in 12 months.

It is a loss experts say could impact up to 25 per cent of the nation’s crude oil production. The recent removal of the petrol subsidy has caused nationwide demonstrations by workers’ unions.

Nigeria’s crude production had hit less than 1 million barrels per day earlier this year from challenges ranging from insecurity, low investment, and de-prioritisation of funding of hydrocarbon development arising from the energy transition.

Currently, Nigeria has the technical allowable capacity to produce about 2.5 million barrels of oil per day, but these challenges put the country’s output at around 1.5 million barrels of oil and condensate per day.

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.

1 Comment

1 Comment

  1. Pingback: Vessel Carrying Stolen Crude Intercepted in Delta - Bank of Africa

Leave a Reply

General

Tinubu in UAE for 2025 Abu Dhabi Sustainability Week

Published

on

Bola Tinubu 2027 presidential election

By Modupe Gbadeyanka

President Bola Tinubu on Saturday, January 11, 2025, left the shores of Nigeria for the United Arab Emirates to take part in the 2025 Abu Dhabi Sustainability Week (ADSW 2025).

He was accompanied by the Minister of Foreign Affairs, Mr Yusuf Tuggar, and other senior government officials.

A statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that Mr Tinubu was invited for the event by his UAE counterpart, Mr Mohamed bin Zayed Al Nahyan.

He will attend the programme starting from today, Sunday, January 12 to Saturday, January 18, 2025.

However, President Tinubu is expected to return to Nigeria before the end of the summit on Thursday, January 16, 2025.

The event, themed The Nexus of Next; Supercharging Sustainable Progress, is expected to bring together global leaders to accelerate sustainable development and advance socioeconomic progress.

In addition, it will enable policymakers, business, and civil society leaders to explore pathways to fast-track the transformation to a sustainable economy and evolve a new era of prosperity for all.

ADSW, a testament to the power of collaboration, has been held annually for over 15 years. It provides a global platform to foster multi-stakeholder cooperation in addressing global challenges and accelerating growth.

It has birthed high-value agreements and strategic partnerships between governments, industry leaders, and clean energy pioneers worldwide, driving impactful alliances and advancing the sustainability agenda worldwide.

At the event, President Tinubu will stress his administration’s reforms, including those related to energy sufficiency, transportation, public health, and economic development.

The Nigerian leader and his entourage will also meet with the emirate’s leadership to discuss issues of interest affecting the two nations.

Continue Reading

General

Lagos Speaker Mudashiru Obasa Faces Renewed Scrutiny Over Financial Mismanagement

Published

on

mudashiru obasa

By Dipo Olowookere

The Speaker of the Lagos State House of ​Assembly, Mr Mudashiru Obasa, remains at the centre of a storm of corruption allegations that have plagued his tenure.

Critics, anti-corruption groups, and opposition leaders have accused him of financial mismanagement, extravagant spending, and abuse of office, yet no substantive action has been taken against him.

Recent reports by People’s Gazette revealed that the 40-member Lagos State House of Assembly, under Mr Obasa’s leadership, spent over N43 billion on “back-up vehicles for honourable members” between January 2023 and the third quarter of 2024.

This expenditure, part of a larger N90.5 billion disbursed for questionable projects, has raised concerns among Lagos residents about the state’s priorities amid widespread economic hardship.

Budget documents showed the Assembly spent about N30.1 billion on vehicles in 2023 and about N13.3 billion in the first three quarters of 2024. Critics argued that these sums, which equate to roughly N1.1 billion per lawmaker, were frivolous.

Mr Obasa has faced allegations of corruptions since early in his tenure, including reports of owning over 60 bank accounts used to misappropriate public funds. In 2019, People’s Gazette reported that the lawmaker conducted suspicious foreign exchange transactions totaling $2.4 million (N1.1 billion). These funds were allegedly funneled through personal accounts and mutual fund investments.

In October 2020, the Economic and Financial Crimes Commission (EFCC) invited the Speaker for questioning over allegations of fraud. Despite evidence of financial impropriety, including allegations of inflated contracts and misappropriated Assembly funds, the EFCC has yet to take decisive action. Protests led by civil society groups like the Civil Society Network Against Corruption (CISNAC) demanding accountability have yielded little progress.

Mr Obasa has consistently denied these allegations. Speaking at a recent plenary, he dismissed claims of spending N17 billion on constructing a gate as “spurious and funny.”

He also refuted allegations of spending N200 million on a nonexistent thanksgiving service, attributing the accusations to political fear-mongering ahead of the 2027 elections.

However, critics have dismissed these defenses as self-serving. A 2020 House panel, composed of Mr Obasa’s allies, cleared him of wrongdoing—a decision labeled a “kangaroo judgment” by anti-corruption advocates.

Prominent anti-corruption campaigner, Mr Olanrewaju Suraju, has urged the EFCC to act on the mounting evidence against Mr Obasa, warning that his actions undermine legislative independence and public trust.

“These revelations justify the urgent need for mechanisms to enforce probity and accountability in public office,” Mr Suraju said.

Despite the scandals, Mr Obasa appears unperturbed and untouchable, with analysts attributing his survival to political connections and an entrenched culture of impunity.

As Lagos State prepares for the 2027 elections, the Speaker’s continued tenure symbolizes a broader challenge of corruption and governance in Nigeria’s political landscape.

Observers now await further developments as pressure mounts on anti-graft agencies to act decisively.

For Lagos residents, however, the scandals highlight a troubling disconnect between political leadership and the needs of the people.

Continue Reading

General

Nigeria Suffers First National Grid Collapse of 2025

Published

on

national grid

By Modupe Gbadeyanka

Residents of Nigeria experienced a power outage on Saturday, January 11, 2025, after the national grid collapsed.

It was the first that occurred this year and it happened at about 3 pm today, according to information gathered by Business Post.

Last year, the nation recorded about 12 grid collapse that almost embarrassed the government, which later set up a team to look into the causes of the frequent collapse of the grid.

It was later that today’s incident occurred after power generation went down from 2,111.01 megawatts at 2:00 pm to about 390.20 megawatts by 4:55 pm.

This development caused a cut in power supply in most parts of the country, but the situation has been brought under control, with electricity restored in most affected areas.

Continue Reading

Trending