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Pipeline Repairs Cost NNPC ₦41 . 98 Billion In Six Months

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images 13 2 Pipeline Repairs Cost NNPC ₦41 . 98 Billion In Six Months

The Nigerian National Petroleum Corporation has said it spent a total of N41.98bn on pipeline repairs and management cost in the first half of this year.
The NNPC disclosed this in its latest monthly oil report, saying, “Products theft and vandalism have continued to destroy value and put NNPC at disadvantaged competitive position.”
A total of 1,067 vandalised points were recorded between June 2019 and June 2020, according to the corporation.
It said a total of 33 pipeline points were vandalised in June 2020, representing about 11 per cent decrease from the 37 points recorded in May.
The NNPC said, “Mosimi-Ibadan accounted for 33 per cent while ATC-Mosimi and Warri-River Niger recorded 27 per cent of the breaks each; other locations make up for the remaining 13 per cent.
“NNPC in collaboration with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace.”
In August, the NNPC called on investors to bid for the repairs of pipelines and depots across the country, adding that the rehabilitation of the facilities would be done through a build, operate and transfer model.
Poor maintenance and vandalism have left many of the depots and pipelines idle for years, with the number of fuel tankers on the roads increasing and wreaking havoc.
The corporation spent N5.48bn on pipeline repairs and management cost in January; N6.74bn in February; N7.69bn in March; N7.84bn in April; N7.99bn in May and N6.24bn in June.
The corporation noted that over the years, the pipeline network had suffered incessant unauthorised interference, adding that this was one of the strongest drivers for the introduction of horizontal directional drilling to the scope of the project.
It said the new pipelines would have intrusion detection and cathode protection systems to complement the deep burial.
“In addition, these facilities have aged over the years giving rise to frequent failures and consequent operational downtimes, high maintenance cost and revenue losses,” the NNPC added.
Between 1976 and 1989, the government, through the NNPC, built three refineries in Port Harcourt, Warri and Kaduna, in addition to an existing one in Port Harcourt, which was built by Shell and BP in 1965 (later bought over by the NNPC).
The NNPC installed a network of pipelines across the country, totalling over 5,000 kilometres in length, to facilitate crude supply to the refineries and products evacuation from them.
The network consists of 4,315 km of multi-product pipelines and 701km of crude oil pipelines, inter-connecting 22 fuel depots, the four refineries, and the jetties at Atlas Cove and Warri.

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FinCEN Files : US Places Atiku, Wives , Under International Banking Surveillance

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images 35 3 FinCEN Files : US Places Atiku, Wives , Under International Banking Surveillance

Secret U.S. government documents reveal that JPMorgan Chase, HSBC and other big banks have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world.
The records show that five global banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon — kept profiting from powerful and dangerous players even after U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money.
U.S. agencies responsible for enforcing money laundering laws rarely prosecute megabanks that break the law, and the actions authorities do take barely ripple the flood of plundered money that washes through the international financial system.
In some cases the banks kept moving illicit funds even after U.S. officials warned them they’d face criminal prosecutions if they didn’t stop doing business with mobsters, fraudsters or corrupt regimes.
JPMorgan, the largest bank based in the United States, moved money for people and companies tied to the massive looting of public funds in Malaysia, Venezuela and Ukraine, the leaked documents reveal.

Rukaiyatu Abubakar is one of four current wives of Atiku Abubakar, vice president of Nigeria from 1999 to 2007. In 2006, Nigerian anti-corruption investigators accused Atiku Abubakar of fraudulently diverting $125 million of state revenue to private interests. U.S. prosecutors also alleged that a Louisiana congressman tried to bribe Atiku Abubakar to help a Nigerian technology company. Atiku Abubakar has never been tried in court and denies wrongdoing. Rukaiyatu Abubakar has not been accused of wrongdoing.
On March 5, 2012, Rukaiyatu Abubakar’s Guernsey Trust Company Nigeria sent more than $1 million to a company in the United Arab Emirates, Tanjay Real Estate Brokers. (GTCN exists to “manage a blind trust” for Atiku Abubkar’s benefit, according to documents received by the U.S. Senate.) Habib Bank Limited in New York filed a suspicious activity report, citing Atiku Abubakar’s history of alleged corruption, after its Dubai office received the payment. The bank’s Dubai branch explained to the office in New York that the payment was to buy an apartment and that the Dubai branch was “unaware of any existing relationship or affiliation between Tanjay and the Abubakar family.”
Habib Bank reported the transactions because they “crossed multiple high-risk jurisdictions” and because “public sources revealed that there have been numerous investigations of Mr. Abubakar … linking him to corruption allegations.”
SARs reflect the concerns of compliance officers and are not necessarily indicative of criminal conduct or other wrongdoing. The Abubakars didn’t respond to an ICIJ request for comment sent to Atiku Abubakar’s spokesman.

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UAE May Reverse Visa Restriction On Nigerians Today Amid Airline ’s Ban

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images 33 3 UAE May Reverse Visa Restriction On Nigerians Today Amid Airline ’s Ban

Barring any last-minute hitches, the United Arab Emirates (UAE), will today, review the visa restriction placed on Nigerian travellers, following the ban of Emirates Airlines from the most populous black nation.
Sources at the company’s office in Lagos confirmed that the issue was being reviewed, and the “right” diplomatic approach taken.
This came as aviation stakeholders commended the Federal Government for going “tough and playing tit-for-tat with countries that would not accept Nigerian travellers into their domains.”
The Federal Government, following pressure from some quarters, banned Emirates Airlines from Lagos and Abuja airports, effective today, over refusal to grant fresh visa applications submitted by Nigerians.
The government earlier banned European carriers, with the exception of British Airways, over travel restrictions.
Emirates officials said: “We have met with the Nigerian government on this issue, and we assured them that we will resolve it. We are presently working on it.”
“I hope this issue will be resolved before Monday. One thing I will assure you is that the issue will be resolved earlier than expected,” a manager said.
The Chief Executive Officer of Finchglow Travels, Bankole Bernard, said assurances had been given on the matter.
He noted that Nigeria was third-biggest market to Emirates, adding that the UAE would do everything to sustain their operations.
“UAE should have resolved this matter long ago. The ban means that they will lose the market, and they know the implication. A market lost is never easily regained. Right now, we are certain that the ban will only affect Monday flights, and hoping that things will be normal by Tuesday,” he added.
The Minister of Aviation, Hadi Sirika, at the weekend, via his twitter handle, announced the suspension of Emirates Airlines from Nigeria, saying the ban would take effect from today.
“Emirates Airlines’ situation was reviewed, and they are consequently included in the list of those not approved, with effect from Monday, September 21, 2020,” he said.
The President Muhammadu Buhari administration had in August warned that Nigeria would activate the principle of reciprocity in granting permission to airlines to resume operations in the country as it reopens its airspace.
It said the decision was informed by the embargoing on flights from Nigeria by some nations.
Air France, KLM, Lufthansa, Etihad Airways, Angolan TAG, Air Namibia and Royal Air Maroc were not approved to operate flights into the country.
Aviation stakeholder, Julius Akintunde, said the measures were in the best interest of the economy.
Also speaking, Secretary-General of the Aviation Safety Round Table Initiative (ASRTI), Group Capt. John Ojikutu (rtd), urged that the reciprocity should be done with caution in order for the Nigerian market not to be undermined by neighbours.

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Aisha Buhari Sends Relief Materials To Flood Victims In Kebbi State

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images 21 3 Aisha Buhari Sends Relief Materials To Flood Victims In Kebbi State

In continuation of the distribution of palliatives to communities affected by the recent flood disaster across the country, First Lady, Federal Republic of Nigeria, Dr. Mrs. Aisha Muhammadu Buhari dispatched a team consisting of her Aides and officials of ‘Future Assured’ to Kebbi State to deliver the relief materials and commiserate with the victims.
Kebbi state is known to have many flood prone communities because of the presence of three major rivers; the recent flooding, however, affected communities in all the 21 Local Government Areas. Some of the communities visited by the team included Kalgo, Bagudo, Zagga, Jega, Makera (Birnin Kudu), and Argungu.
Speaking on behalf of the First Lady at Jega town in Jega local government area, Aliyu Abdullahi, Special Assistant to the President on Media and Publicity (Office of the First lady) conveyed Mrs. Buhari’s message of sympathy over the losses they incurred during the disaster which deprived the affected communities their shelters, farmlands and properties. The First Lady prayed to God to compensate for the losses they incurred. “As a mother, I am particularly concerned with the plight of women and children during such disasters”, said Mrs. Buhari.
Mr. Abdullahi assured all the affected communities that they are on the mind of the First Lady at this trying time.
Mrs. Buhari under her Future Assured Program sent large quantities of relief materials that were distributed amongst the affected communities in order to assuage the impact of the losses the communities incurred. This includes food items such as Rice, Vegetable Oil and other edibles, clothing materials, toiletries and blankets.
Chairman of Jega Local Government, who witnessed the distribution along with traditional rulers, Alhaji Adamu Isyaku Kimba spoke at the occasion, expressing the appreciation of the people of Jega over the kind gesture of the First Lady, saying she has lived up to her title as the mother of the nation. He said the people of Jega would remain grateful for her kind gesture.
In the same vein, His Excellency, Senator Abubakar Atiku Bagudu, the Executive Governor of Kebbi State also extended his gratitude and appreciation to Mrs. Buhari and her Future Assured Program for always being there for the people of Kebbi State.

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