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NNPC recorded N20.365b trading surplus in July 2020

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THE Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of ¦ 20.36billion in July 2020 compared to the ¦ 2.12billion surplus in June 2020 in its operations.

Its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru,, in a statement explained that details of the figures captured in the July 2020 NNPC Monthly Financial and Operations Report (MFOR) indicated that the 858 per cent overall upswell in performance was largely due to the 178 per cent rise in the surplus posted by the Nigerian Petroleum Development Company (NPDC), NNPC’s flagship upstream entity.

He stated that the NPDC’s impressive result was bolstered by the continuous improvement in global crude oil demand for the third consecutive month.

Similarly, the report said the corporation’s fortune was further enhanced by the 739 per cent increased profit posted by the Integrated Data Services Limited (IDSL) and a 51 per cent growth in performance by Duke Oil Incorporated, both companies of NNPC.

Returns from NNPC Retail Limited and Nigerian Gas Marketing Company (NGMC) during the period under review also grew by 28 per cent and 24 per cent respectively, owing to increased sales and improved debt collection.

In the Gas sector, Gas production in July 2020 increased by 2.19 per cent at 236.34billion cubic feet (BCF) compared to output in June 2020; translating to an average daily production of 7,623.98million standard cubic feet of gas per day (mmscfd). Likewise, the daily average natural gas supply to gas power plants stood at 707mmscfd, equivalent to power generation of 2,421megawatt (Mw).

For the period July 2019 to July 2020, 3,079.64BCF of gas was produced, representing an average daily production of 7,812.11mmscfd during the period.

Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 70.88 per cent, 20.37 per cent and 8.75 per cent respectively to the total national gas production.

In the Downstream Sector, to ensure continuous stability in Premium Motor Spirit (PMS) supply and effective distribution across the country, 1.02billion litres of PMS translating to 32.95mn liters/day were supplied for the month.

The July NNPC MFOR stated that the corporation has continued to diligently monitor the daily stock of PMS to achieve smooth distribution of petroleum products and zero fuel queue across the Nation.

The report noted that during the period under review, 36 pipeline points were vandalized, representing about nine per cent increase from the 33 points recorded in June 2020.

Atlas Cove-Mosimi and Aba-Enugu network accounted for 28 per cent each, while PHC-Aba and the other locations recorded 14 per cent and the remaining 31 per cent respectively. NNPC in collaboration with the local communities and other stakeholders continuously have strived to reduce the menace of pipeline vandalism.

The July NNPC MFOR is the 60th edition in the series meant to sustain effective communication with stakeholders.

The report is published monthly on the corporation’s website, national dailies and online media.

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Politics Should Be About Issues, Not Violence – Let’s Protect Our Democracy, Says Tinubu

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I have followed recent reports of violence accompanying political events in different parts of the country.

Every form of violence stands condemned. Violence should never have a place in our political campaigns as we move toward the 2027 general elections.

Our campaigns should be about issues, a contestation of ideas that promote the welfare of our people and the progress of our country.

As the leader of this country, I commit myself to a peaceful, free, and fair election, and I urge political leaders and supporters across party lines to conduct themselves responsibly.

I have said that being in different political parties or pursuing different ambitions does not make us enemies.

As Nigerians, we are members of the same household living in different rooms. Therefore, our politics must elevate human conditions and focus on national progress and development.

I want to reiterate my previous directive to the security agencies: be strict and firm against anyone who seeks to test our resolve and will to preserve public order.

Our administration is committed to an orderly and peaceful election, and all political parties and candidates should be protected and free to campaign anywhere in the country without molestation or fear for their safety.

We shall not tolerate any irresponsible conduct by politicians and their supporters.

Security agencies are therefore authorised to confront thuggery and other anti-social and anti-democratic activities with full force.

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Update : THE COURAGE TO REFORM” BOOK TO BE UNVEILED DECEMBER 1 ,

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“The Central Planning Committee for the official unveiling of the book, The Courage to Reform: Architecture of President Bola Ahmed Tinubu, GCFR, Beyond 2027 — Statecraft, Vision for National Renewal, has announced Tuesday, December 1, 2026, as the new date for the highly anticipated ceremony.

The unveiling, which was initially scheduled for Thursday, November 5, 2026, at the Bola Ahmed Tinubu International Conference Centre, Abuja, was earlier postponed following adjustments to the official schedule of President Bola Ahmed Tinubu, GCFR, who is the Special Guest of Honour at the occasion.

HON. IMAAN SULAIMAN-IBRAHIM
Honourable Minister of Women Affairs and Social Development
Chairperson, Central Planning Committee

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2027: Tinubu Dares Obi, Atiku to Showcase Their Achievements in Office, Accuses Them of Abandoning Their Responsibilities

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President Bola Tinubu has criticised former Anambra State Governor Peter Obi and former Vice-President Atiku Abubakar over their political affiliations, questioning their leadership credentials ahead of the 2027 general elections.

Tinubu made the remarks on Friday during his visit to Akwa Ibom State, where he inaugurated projects executed by Governor Umo Eno’s administration and addressed supporters at a political gathering.

Although he did not mention either politician by name, he appeared to refer to Obi, the presidential candidate of the Nigeria Democratic Congress, and Atiku, who joined the African Democratic Congress after leaving the Peoples Democratic Party.

Referring to Obi’s tenure as Anambra governor, Tinubu accused him of failing to tackle erosion in the state, contrasting it with his own claim of confronting the Atlantic Ocean during his administration as Lagos governor.

“One, who said he is in one party they call NDC, who is running for president. He ran away from erosion. In Anambra State, he could not confront erosion.

“I, Bola Ahmed Tinubu, I confronted the Atlantic Ocean. I claim it for you. Umo Eno confronted the erosion in Akwa Ibom and is working for, he is stable,” the President said.

Tinubu also questioned the political loyalty of a former PDP member who moved to another party, in an apparent reference to Atiku’s defection to the ADC.

“If a man that was, once upon a time, was a baby of PDP, became a father of PDP. And because of a little inconvenience, he ran away from that party. And formed a dangerous ADC in another party. Is that a leadership trait? Is that a leadership character? And he wants you to vote for him?” he said.

Obi governed Anambra State between 2006 and 2014, while Atiku served as Nigeria’s Vice-President from 1999 to 2007 under the PDP.

Atiku contested the 2023 presidential election on the PDP platform, finishing second behind Tinubu, while Obi, who contested under the Labour Party, came third.

Obi left the Labour Party for the NDC in May 2026, while Atiku joined the ADC as part of opposition efforts ahead of the 2027 election.

Tinubu’s reference to Anambra’s erosion problem recalls his 2023 presidential campaign promise to tackle the menace in the state.

During a campaign rally in Awka in February 2023, the then APC presidential candidate promised to address gully erosion in Anambra, saying he would handle it in the same way he claimed to have tackled the Atlantic Ocean surge in Lagos.

“I have come here to promise you development. We will industrialise Nigeria and Anambra State. You know me, I am the city boy of Lagos; I caged the Atlantic Ocean in Lagos; the way I handled the Atlantic Ocean in Lagos, I will handle the erosion menace in Anambra State,” he said at the time.

 

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