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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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Breaking : Tinubu Breaks New Ground as First Nigerian President to Receive Proposed UN Budget

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No President Bola Tinubu received in audience the Permanent Representative of Nigeria to UN, Ambassador Jimoh Ibrahim after he presented the proposed $14 billion UN budget for 2027.

President Bola Tinubu has received copies of the proposed 2027 United Nations budget from Nigeria’s Permanent Representative to the UN, Jimoh Ibrahim.

Ibrahim, who chairs the UN committee responsible for budgetary and administrative matters, presented the seven-volume document to the President at the State House, Abuja.

Speaking to journalists after the presentation, Ibrahim described the occasion as historic, saying it was the first time in 66 years that a Nigerian president had received the proposed UN budget through the process.

He said, “This is the presentation of the United Nations proposed budget for 2027 that was presented to me by the General Assembly, by the Secretary-General of the United Nations to the Fifth Committee, and that budget has seven volumes.

“So it has to be presented to my country because my country is a member of the United Nations. I share the budget at the committee, so the appropriate thing to do is to bring the budget home and deliver it to the President.

“This is the first time in 66 years that Nigeria will share budget in the committee. The first time. So I don’t know when we’re going to do that again in history.”

Ibrahim added, “President Bola Tinubu is making history to have been able to receive that budget, being the first President in 66 years that will receive such budget from the United Nations, and it’s not a small issue for a country to receive the whole UN budget.”

He said the proposed budget covered the organisation’s regular activities and peacekeeping operations, with approximately $3.4bn allocated to the regular budget and $8.5bn for peacekeeping.

Ibrahim put the total at about $14bn, although the figures he cited for the two components add up to $11.9bn.

He stressed that the document was still a proposal and had not received final approval from UN member states.

“The budget still has to be approved. This is a proposed budget. It’s at the proposed stage. You submit it to your country, and thereafter the budget is finally discussed. Figures are adjusted, and then finally the final budget is approved and spending commences,” he said.

Asked about the support Nigeria could receive from the UN, Ibrahim said discussions on the proposed budget were ongoing and declined to specify what Nigeria might benefit from it.

He also cited the construction of a $267m UN conference centre in Kenya as an example of the organisation’s investment in facilities in member states.

The proposed budget will undergo further scrutiny and adjustments before member states approve the final figures and spending begins.

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Abuja-Kaduna Train: Opeifa Denies NRC’s Involvement in Ticket Racketeering, Blames Scammers and High Demand

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……..NRC Introduces Double Verification to Curb Racketeering

The Managing Director of the Nigerian Railway Corporation (NRC), Dr Kayode Opeifa, has denied allegations that the corporation deliberately creates artificial scarcity of train tickets on the Abuja-Kaduna Train Service (AKTS) to facilitate their resale at inflated prices through unauthorised agents.

The controversy followed a viral social media video by Instagram blogger Faizah Raji, who operates under the handle @wearegst, alleging that the corporation deliberately withholds tickets from its official electronic ticketing platform and makes them available through agents at exorbitant prices.

In the video, titled “The NRC Is Stealing Its Own Tickets to Resell,” the blogger claimed that she was unable to obtain a ticket through the official booking portal but subsequently purchased one from an agent at twice the official price.

Responding to the allegations, the NRC management described the claims linking the corporation to the alleged racketeering as misleading, insisting that the corporation does not directly buy or sell tickets on the Abuja-Kaduna corridor.

According to the management, electronic ticketing on the standard-gauge rail services operates under a Public-Private Partnership (PPP) arrangement, with private concessionaires responsible for ticket sales.

SecureID/TPS handles ticketing for the Abuja-Kaduna Train Service, while Global Software Digital Solutions (GSDS) manages the Lagos-Ibadan Train Service. Fane Warri-Itakpe Ticketing Solutions Limited is responsible for ticketing on the Warri-Itakpe Train Service.

The NRC said the concessionaires were approved by the Infrastructure Concession Regulatory Commission (ICRC) and the Federal Executive Council (FEC) before 2023.

Explaining the persistent difficulty passengers face in securing tickets, the corporation attributed the situation largely to a significant imbalance between passenger demand and the number of seats available.

According to the NRC, demand for train services on the Abuja-Kaduna corridor has exceeded available capacity by more than tenfold, putting considerable pressure on the ticketing system.

The management maintained that the reported experience of purchasing a ticket through an agent did not, in itself, establish that the corporation was responsible for creating artificial scarcity or facilitating the alleged resale.

It also warned passengers against patronising unofficial ticket agents, stressing that those who purchase tickets outside approved channels do so at their own risk.

The corporation explained that the Federal Government introduced the National Identification Number (NIN) requirement for train ticket purchases following the 2022 Abuja-Kaduna train attack, as part of measures to improve passenger identification and curb ticket racketeering.

However, it said suspected fraudsters had devised ways of obtaining multiple NINs to purchase tickets for resale to unsuspecting travellers.

To address the challenge, the NRC introduced a double-verification process in 2025, requiring passengers to undergo NIN verification and present personal identification before boarding.

The corporation said its ticketing and verification system is integrated with the database of the National Identity Management Commission (NIMC), enabling officials at Idu and Kubwa in Abuja, as well as Rigasa in Kaduna, to verify the identity and photograph associated with the NIN used to purchase a ticket.

The management, however, acknowledged that the Rigasa station in Kaduna lacks an adequate access-control system, a shortcoming it said could occasionally allow agents linked to ticket scams to overwhelm security personnel.

The introduction of a second verification process, modelled on the system used at Terminal 2 of the Murtala Muhammed International Airport in Lagos, is intended to strengthen checks and prevent passengers from travelling with tickets purchased using another person’s identity.

As part of efforts to address complaints about ticket availability, the NRC said the electronic ticketing concessionaires had been directed to improve access to their online platforms and ensure compliance with established ticketing procedures.

The corporation also reiterated that purchasing tickets from third parties using another person’s NIN or name was unacceptable, describing the practice as economic sabotage.

It stressed that passengers should book through approved portals and avoid sharing their NIN details and other personal information with agents or third parties who could exploit such information for fraudulent transactions.

The NRC management declared zero tolerance for ticket racketeering, warning that any staff member found participating in or colluding with individuals involved in the practice would face disciplinary action.

The corporation said it remained committed to protecting the integrity of its operations, improving customer service and ensuring that passengers have access to safe, affordable, reliable and convenient rail transportation.

While the allegations have renewed public debate over ticket availability and the effectiveness of the electronic ticketing system, the NRC maintained that the immediate challenges include rising passenger demand, limited seating capacity and the activities of individuals exploiting the system.

The corporation urged passengers to use only approved ticketing platforms and cooperate with verification procedures to help curb fraud and protect the railway system.

The NRC said it would continue working with relevant stakeholders to strengthen its ticketing processes and improve the passenger experience across its rail corridors.

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Ondo Sports Council Chairman Declares 2026 ADU Unity Cup Open as Ijapo Ages FC Edges Odigbo LG FC

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The Chairman of the Ondo State Sports Council, Hon. (Coach) Abimbola Oladimeji, has officially declared the 2026 ADU Unity Cup open, marking the commencement of another edition of the football competition aimed at promoting unity, sportsmanship and grassroots football development.

The opening ceremony attracted football enthusiasts and supporters who gathered to witness the start of the tournament and celebrate the spirit of competition among participating teams.

In the opening match, Ijapo Ages FC secured a narrow 1–0 victory over Odigbo LG FC in an entertaining encounter, giving the team a winning start to its campaign in the competition.

The ADU Unity Cup continues to provide a platform for players to showcase their talents, foster unity among communities and contribute to the development of football at the grassroots level.

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