Man United edge past Bodo/Glimt to give Amorim first win

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November 28, 2024

…As Customs moves to curb cross-border petrol smuggling

By Charles Ebi

Nigeria’s top crude grades have been in high demand this week due to the country’s strong refining capacity and January’s export schedules, which indicate increased demand for Nigeria’s Bonny Light crude.

Nigerian crude moved closer to $74 per barrel on Wednesday as tensions in the Middle East subsided.

Nigeria’s Brass River, Bonny Light, and Qua Iboe are considerably more expensive than the current Brent contract, which is just over $73.7 per barrel.

Nigerian crude is generating a lot of buzz due to the new January loading schedules, especially Bonny Light.

Qua Iboe, Bonny Light, Bonga, and Forcados are among the major Nigerian grades expected to increase their exports from 770,000 barrels per day to 841,000 barrels per day later this year.

The resurgence of Nigerian refineries and increased exports signal a dramatic shift in the world’s approach to oil supply.

Brent crude futures hit $72 a barrel, down 20 basis points by 6:30 a.m. Nigerian time. Additionally, West Texas Intermediate crude futures fell 0.2% to settle at $68.58 per barrel.

The once-dormant Port Harcourt Refinery is now operational and will start loading products for marketers every day, according to a Tuesday morning announcement from the Nigerian National Petroleum Company Limited.

Trucks began loading petroleum products on Tuesday, including household kerosene, automotive gas oil, and premium motor spirit. Other oil products were also planned for shipment.

The refinery has two wings: the new plant, which produces 150,000 barrels of oil per day, and the old refinery, which was constructed and put into service in 1965 with a refining capacity of 60,000 barrels per day. Together, these two wings add up to 210,000 barrels per day.

The Dangote Refinery, Africa’s largest oil plant, is now fully operational. The refinery began distributing its first Premium Motor Spirit (petrol) from its 650,000-barrels-per-day facility on September 3.

The Nigerian Upstream Petroleum Regulatory Commission’s ,NUPRC, most recent monthly oil production status report stated that Nigeria’s crude oil production fell from 1.54 million barrels per day (bpd) to 1.53 million bpd in October 2024.

Africa’s largest oil producer has pumped an average of 1.5 million barrels per day so far this year, according to the most recent estimates from S&P Global Commodity Insights.

Oil theft, underinvestment, and technical problems at aging fields have caused crude output to drop below its estimated capacity of 2.2 million barrels per day.

However, NNPC Chief Mele Kyari told reporters that Nigeria and its international partners had “revved up crude oil and gas production to 1.8 million b/d and 7.4 Bcf/d”, due to efforts by the government, security agencies, and joint venture oil partners to combat sabotage and theft.

“Every part of the production chain was affected by the interventions that resulted in the recovery of production, with security agencies keeping a close eye on the pipelines”, Kyari stated.

Nigerian legislators estimated that the daily theft of crude was about 400,000 barrels per day earlier this year.

President Tinubu, who ran his political campaign on reforming the nation’s oil industry, declared a state of emergency in June and ordered security forces to target criminals and vandals in the Niger Delta.

“These measures have directly improved the uptime of the Trans Niger Pipeline in the eastern Niger Delta, and today, all operating companies along the TNP can produce into this major trunkline”, Presidential Adviser on Energy Olu Verheijen stated.

She added that the oil sector reforms included an enhanced fiscal framework for producers, including those in deepwater, and were expected to draw in new investments that would unlock approximately 11.3 billion barrels of oil equivalent in gas and oil fields.

Oil prices this year have been significantly impacted by slowing fuel demand growth in major consumers, such as the United States and China. However, the losses have been minimized by supply curtailments from OPEC+, the Organization of the Petroleum Exporting Countries, which includes Russia and other allies.

The oil cartel will meet on Sunday. OPEC members have allegedly been debating postponing the planned increase in oil output that was supposed to begin in January.

There should be little trading due to the Thanksgiving holiday beginning today in the world’s largest economy.

Israel’s agreement to a ceasefire deal with Lebanon’s Hezbollah group has caused Brent and WTI to drop more than 3% each so far this week.

The ceasefire, which went into effect on Wednesday, alleviated concerns that the fighting might disrupt oil supplies from the Middle East, the world’s largest oil-producing region. Given the uncertain geopolitical environment surrounding oil, market players are unsure of how long the truce will last.

Market fundamentals indicate that as the likelihood of a Middle East supply disruption diminishes, it is nearly impossible to see oil prices reach $85 per barrel before the end of the year.

Gasoline inventories increased by 3.3 million barrels during the week ending November 22. The Energy Information Administration (EIA) reported on Wednesday, defying forecasts that fuel stocks would slightly decline in advance of record holiday travel.

Meanwhile, the Nigeria Customs Service ,NCS, has vowed to permanently shut down all illegal cross-border routes used for smuggling petroleum products, particularly Premium Motor Spirit ,PMS, known as petrol, out of Nigeria.

This is as it plans to complement efforts by other security agencies including the Nigerian Army, Navy, and the Nigeria Security and Civil Defence Corps in curbing the illicit trade of energy products.

This was disclosed by the National Coordinator of Operation Whirlwind ,NCS, Comptroller Hussein Ejibunu, who made the announcement revealed that in a recent operation, Customs officials seized 849 kegs of PMS, each containing 25 liters, along with two Mazda 626 vehicles used for cross-border transportation.

Mr Ejibunu, during a press briefing at the Customs Training College in Ikeja, Lagos, said the total value of the seized items, based on the Nigerian National Petroleum Corporation ,NNPC Limited retail price, was estimated at N30.225 million.

According to him, this marked the seventh successful operation in the southwest region under the ongoing crackdown by Operation Whirlwind.

“About five weeks ago, similar PMS products were displayed here at the college parade ground. Our operation has tightened the grip on smugglers, leaving no room for their illegal activities across the country.

“We will ensure all illegal PMS smuggling routes leading to neighbouring countries are permanently blocked”, Mr Ejibunu pledged.

He also expressed gratitude to the National Security Adviser and the Comptroller-General of Customs for their continued support.

He pledged the commitment of the NCS in continuing with the efforts, with the aim of stabilizing fuel prices and preventing artificial shortages caused by illegal smuggling.

“We are grateful to the National Security Adviser and the Comptroller-General of Customs for their continued support”, he added.

FG Intensify Effort Toward High-Quality Maternal And Child Health Services For Nigerians

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November 28, 2024

Joel Ajayi

Federal government has revealed present government is working tirelessly to expand access to high-quality maternal and child health services for all Nigerians.

Speaking in Thursday in Abuja, at the fifth anniversary of the Nairobi Summit on International Conference on Population and Development (ICPD). Chairman, National Population Commission (NPC), Hon. Nasir Kwarra,

Kwarra said government has made considerable progress has been achieved in addressing Gender-Based Violence (GBV) in Nigeria.

The 2024 commemoration of the summit with the theme: “The March Continues: Sexual and Reproductive Health and Rights for All,” as theme.

According to him, strategic investments have been made to expand access to high-quality maternal and child health services, grounded in the belief that women’s health is critical to national prosperity.

“This ensures that women can make informed choices about their reproductive health, free from coercion or discrimination, thereby upholding their rights.

“Comprehensive national policies and stronger legislation have been implemented to prevent GBV, providing support and justice to survivors.

“The establishment of safe spaces, community outreach programs, and support services, developed in collaboration with civil society organisations foster a safer and more inclusive environment for women and girls.”

He, however, said that while the nation has made considerable progress, the journey is not yet complete as much work remains to be done.

However, Kwarra said that GBV was a global issue that remains a priority and that the Federal Government has made significant strides in aligning national policies with the goals of the ICPD and the commitments renewed in Nairobi

Kwarra identified a major setback to be the delay in conducting a population and housing census.

“The delay in conducting the census, particularly in the face of logistical and financial constraints, has hindered efforts to assess the full scope of population needs and allocate resources effectively, especially in rural and underserved areas.”

In his addressed the Deputy Country Representative of the United Nations Population Fund (UNFPA), Mr Koessan Kuawu, said that the theme was a reminder that “The March Continues”.

He said that over the past 30 years, the ICPD principles have guided global and national efforts, and commended Nigeria for its achievements over the years.

“Maternal mortality has decreased slightly, access to family planning has expanded, and public awareness of SRHR has grown.

“UNFPA is proud to have partnered with the government of Nigeria, civil society, development partners, and other stakeholders in driving these achievements.”

He, however, said that in spite of the gains, significant challenges persist as everyday, women and girls especially the marginalised populations across Nigeria still struggle to access essential health services.

“Too many lives are still lost to preventable maternal deaths. Too many adolescents and young people are denied the information and services they need to make informed decisions about their bodies and futures.

“GBV continues to undermine the dignity and potential of women and girls, and harmful practices such as child marriage and female genital mutilation persist.”

According to him, achieving universal access to SRHR, and fulfilling the ICPD promise requires a renewed commitment to action.

He added that in Nigeria, achieving the said goals would demand sustained investments in health systems and infrastructure and robust policy implementation that address root causes of inequality.

Indomie Adds Flavour To Nigeria’s Rich Cultural Heritage Sponsored Abuja Carnival

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November 28, 2024

Indomie Noodles, Nigeria’s leading instant noodles brand has shown its support for Nigeria’s vibrant cultural richness and diversity with its headline sponsorship of the 2024 Abuja Carnival, a festivity that promotes culture, boosts tourism, and serve as a prime platform for businesses to engage with an energetic and diverse audience. The carnival which held November 23 – 25, 2024 made a comeback after an eight-year hiatus, kicked off with energy, colour, and a celebration of Nigeria’s cultural diversity.

The opening ceremony set the tone for what was to be a riveting four-day experience as the Vice President, Senator Kashim Shettima, officially flagged off the carnival with a call for unity and cultural celebration.

The festivities that followed began with participating states assembling at the iconic Area 1 Bridge, creating an elegant combination of traditional attire and vibrant floats. Indomie excited the carnival goers by creating magical, memorable brand experiences for them across the various touch points as its brand canvassers mixed and mingled with the exciting crowd. Its uniquely decorated experiential booth featured exciting games where it served delicious bowls of noodles to attendees. Children were not left out of the excitement, as they joyfully engaged with the activities while celebrating Nigeria’s heritage in grand style.

Speaking on the headline sponsorship, Oluwaponmile Alabi, Marketing Manager for Indomie, said, “Indomie is a family brand, we are more than just a meal, our participation in the carnival is a part of our way of bringing people together, resonating with what matters most to Nigerians. Being part of this historic celebration reaffirms our commitment to fostering unity and celebrating our rich and diverse heritage. Every bowl of Indomie served at the Abuja Carnival is a symbol of our shared identity and culture”.

Alabi further stated that, “At Indomie, we believe that a brand that doesn’t evolve is destined to fade. That’s why we constantly seek innovative ways to connect with our consumers. For us, culture is the heartbeat of every Nigerian’s way of life, and it’s the perfect bridge to deepen this connection. While we’ve long been associated with mothers and children, we’re stepping into next year with a renewed focus—aligning our flavors and identity with the vibrant culture that defines Nigeria”.

The Abuja Carnival was a beehive of events, including

captivating street parades, traditional cooking competitions, children’s carnivals, cultural nights, and a grand masquer heade fiesta. Indomie’s participation cut across all the activities as it came to show some love as its presence added a delicious layer to the festivities, creating the perfect spirit for entertainment and celebrations.

This sponsorship reflects Indomie’s dedication to creating engaging and memorable consumer experiences, forming a strong emotional connection between the brand and its customers.

NPFL U- 17 Youth League Outstanding Players intensify Preps Beats Legacy FC 1-0 in Abuja

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November 28, 2024

Joel Ajayi

In it’s unrelenting effort to ensure best outing at the forthcoming Under 17 European tour in Spain and Portugal, the Nigeria Premier Football League NPFL U- 17 Youth League Outstanding Players beats Legacy FC 1-0 in Abuja as part of preparation for the tour.

The game played inside the FIFA Goal Project of Moshood Abiola Stadium saw NPFL Under 17 team score the only at first half as the second half witnessed a lot moves but thanks to resilient and defending prowel from the opponent team.

The final score was 1-0 showing their dominance and skill on the field.

The victory was not the only impressive aspect of the game, as the Abuja-based academy also put their best but their best was not enough as match end 1-0.

It will be recalled that the maiden edition of the youth league took place in February in Benin City, the Edo State capital where about 35 outstanding players were selected and later prunned. to 18

However, 18 outstanding players from the youth League who serve as reservoir for NFF to select a squad for international competitions are currently camping in Abuja.

While speaking on Thursday, the coach who led Rivers United to win the NPFL U-17 championship after beating Legacy Academy 1-0 at FIFA goal Project of Moshood Abiola Stadium Abuja, said that the team is ready to make Nigerian proud.

We are working to get the best from the best. Though still learning but they are all good players and that is where we work is, getting the best of them to represent the Nigerian League

He expressed that the team would be ready for the tour adding that all the little errors will be adequately attent to before the travelling.

“The objectives of the friendly was achieved, it is part of our preparation, it is to put the boys in good shape and I can tell you that their confidence is back”.

“We played for games for far and we won all, football is all about winning, we will not relent, we will keep on pushing until we achieve our of aim of having best outing in Spain and Portugal respectively. ” He said.

As for Captain of the team Oscar James expressed readiness and say that the team will play a very good football in the tour.

“We are going to give nothing but the best we have different talents from different zone and different NPFL clubs, we know each other, that is why you see unity and cohesion on the field of play. All we know is that we are going to make Nigerian proud.

“We will play a very good football and showcase our talent in Spain and Portugal respectively.” He said

Use NPFL European tour to Showcase your talent, Elegbeleye Charges U-17 All Stars players

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November 28, 2024

Joel Ajayi

The Chairman of Nigeria Premier Football League NPFL Gbenga Elegbeleye has charged NPFL U-17 Youth All Stars players to use the Spain and Portugal tour to showcase their talents.

While advising the players when he visited the team at Training in Abuja, Elegbeleye advised the Outstanding Players on the need to give good account of themselves and to be good ambassadors of Nigeria when they travel for the tour

“I want to congratulate all of you that will be taking part in the tour because you are the first set and I want to appeal to you to use this great opportunity to help your football career”.

“The final list will be out anytime from Friday and we will start Visa processing immediately the list is out. As you can see we are trying our best to see if you can also travel to Portugal to play some matches in addition to the matches in Sevilla Spain where we have partnership to bring our best players to come and showcase their talents”.

Also speaking, coach of the NPFL U-17 team Ken Chukwu believes the team would be ready for the tour.

About 24 players are training morning and evening at the FIFA Goal Project for the NPFL U-17 Tour of Spain.

Ogunbote to face NPFL Disciplinary Charges

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November 28, 2024

Technical Manager of Shooting Stars Sports Club (3SC), Gbenga Ogunbote has been invited by the Nigeria Premier Football League (NPFL) for an investigative hearing into interview he may have granted to the media.

Ogunbote spoke to the media at the end of their Matchday 12 fixture in Lagos against Ikorodu City and the league body have considered some of the positions he expressed as a breach of the code of conduct for the NPFL Coaches.

“We have taken note of certain unguarded public statements attributed to you following the MatchDay 12 fixture between Ikorodu City FC vs. Shooting Stars Sports Club (3SC), held on 17th November 2024.

“Your remarks, as reported, appear to contravene the League’s Code of Conduct for Coaches and Officials by casting aspersions on the integrity of the match officials and the League’s governance structure. These actions are considered detrimental to the reputation of the NPFL and its stakeholders”, read the invitation letter to the Coach.

It continued by inviting the 3SC Manager to appear before the NPFL Disciplinary Committee for an inquest on Tuesday, 3 December 2024 at 10am.

The venue is the NPFL Secretariat in Jabi district of the Federal Capital Territory, Abuja.

In concluding, the invitation declared that, “your appearance is mandatory, and you may come with any relevant evidence or representation to support your position. Kindly confirm your attendance on or before Friday, 29 November 2024”.

The NPFL assured stakeholders that it remains committed to maintaining the highest standards of professionalism and integrity and expects all stakeholders to adhere strictly to these principles.

The invitation was signed by Davidson Owumi, the Chief Operating Officer.

Oil Prices Increase As US Stock Dips Ahead Of OPEC+ Meeting

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November 28, 2024

Oil prices increased in the global commodities market yesterday after data showed that U.S inventories fell sharply. The market expect demand to increase in US as weak dollar reduce energy costs amid success recorded at Middle East peace talk.

Brent crude rose to $72.49 per barrel while the US benchmark West Texas Intermediate also increased to $68.83 per barrel in the market yesterday. Data from the American Petroleum Institute ,API, showed a larger-than-expected drop in US crude oil stocks which supported the upward movement in prices.

API reported a decrease of 5.93 million barrels in US commercial crude inventories last week, contrary to market expectations of a 250,000 barrel increase, fostering optimism regarding rising demand in the US.

The US Energy Information Administration is set to release its official inventory report during the day. Also, the weakening of the US dollar against other currencies aided the rise in oil prices.

The US dollar index, which measures the US dollar’s value against other currencies, fell 0.15% to 106.809. The weak dollar is expected to enhance demand by making oil cheaper for those who use foreign currencies.

Brent has been trading flat after a sharp fall on Monday as the market assesses the Middle East’s new dynamics, ING says. Israel and Hezbollah have announced a 60-day ceasefire agreement, effective immediately. This time window could be used to discuss a longer-lasting peace agreement.

The focus now shifts to the implementation of the current agreement and how it affects ongoing fighting in the Gaza Strip or the Israel-Iran conflict. OPEC+ is scheduled to meet this weekend and expectations are that the group could further delay its plans to increase production by 180k bbls/d in January.

In the last meeting, the group had postponed its supply increment plans from December to January. Crude oil prices continue to face stiff resistance around US$75/bbl due to demand concerns. Any premature production hike from the group could push the market into deeper oversupply

Court Reserves Ruling In Kano LG Allocation Case

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November 28, 2024

Kano State High Court yesterday reserved ruling in a suit filed by the National Union of Local Government Employees, NULGE, against the Central Bank of Nigeria, CBN, and others from withholding Kano local government allocations.

The applicant’s are chairman of NULGE, Ibrahim Muhd, Ibrahim Uba Shehu, Ibrahim Shehu Abubakar, Usman Isa, Sarki Alhaji Kurawa and Malam Usman Imam.

The applicants, through their counsel, Mr Bashir Yusuf-Muhammad, filed a motion ex-parte dated November 1, asking the court to restrain the respondents from withholding or delaying allocations essential for local governance in the state.

The respondents are the Accountant-General of the Federation, Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, 44 Kano local governments, UBA, Access and six other commercial banks.

When the case came up for hearing, Yusuf-Muhammad filed a reply to the notice of preliminary objection dated November 20.

“The application is attached with a four-paragraph affidavit and a written address dated November 3.

“We filed 11 paragraphs of better and further affidavit dated November 20 and one exhibit.”

Yusuf-Muhammad urged the court to discountenance the respondents counter affidavit and grant the applicants reliefs.

Counsel to the 44 local governments, Mr Eyitayo Fatogun (SAN) did not oppose the plaintiff’s application, but noted that the disbursement of allocations should not be truncated.

Responding, counsel to CBN, Mr Ganiyu Ajape filed a notice of preliminary objection dated November 14, pursuant to Order 8, Rules (1)(2) of the fundamental rights.

“We filed our reaction and a six-paragraph counter-affidavit dated and filed on November 14,” Ajape said.

He urged the court to strike out the name of the CBN from the suit for lacking jurisdiction to entertain the matter and not to grant the applicants relief.

Counsel to Guarantee Trust Bank (49th respondent), Mr Faruk Asekome filed their counter-affidavit dated November 18 on the applicant’s originating motion attached with a written address.

Asekome urged the court to strike out his client’s name with a substantial cost.

“My lord, there is no reasonable cause of action disclosed against GT Bank. We don’t have any say in the disbursement of local government allocations.”

Justice Ibrahim Musa-Muhammad, adjourned for ruling in the notice of preliminary objection and the substantive matter to a date that would be communicated to parties.

The court had on November 6 restrained the CBN, AGF and others from withholding allocations to Kano State 44 local governments. (NAN)

Tinubu Orders Prompt Reactivation Of Warri, Kaduna Refineries

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November 28, 2024