Group Condemns Fake News Campaign Targeting NNPCL Chief, Warns of Plot to Disrupt Energy Sector

The Situation Room on Positive Reforms has raised an alarm over a malicious fake campaign targeting the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Bashir Ojulari.

The group alleges that detractors are spreading false claims about Ojulari’s resignation in a deliberate attempt to destabilize Nigeria’s energy sector and undermine the administration of President Bola Ahmed Tinubu.

In a statement signed by Dr Collins Atawodi, the group condemned the fabricated reports, which falsely claimed that the Presidency forced Ojulari to resign.

The Situation Room on Positive Reforms described the fake news as a calculated plot to disrupt Nigeria’s energy supply, potentially triggering fuel shortages, reintroducing fuel queues, and inciting widespread unrest.

The group pointed to Ojulari’s recent achievements, including his efforts to reform the nation’s refineries and recover revenue previously tied up by questionable deals with international oil companies (IOCs).

These successes, the group suggests, may have provoked the wave of false accusations aimed at discrediting him.

“This malicious lie is the work of enemies of President Tinubu, who are desperate to discredit his administration and halt the progress of recent reforms,” said Dr. Collins Atawodi.

“Mr. Ojulari’s refusal to engage in corrupt practices and his commitment to transparency in managing oil revenue have made him a target of those who profited from the mismanagement of NNPCL in the past.”

The group praised Ojulari’s leadership, noting his dedication to increasing national revenue and implementing reforms at NNPCL.

They urged the Presidency to stand by Ojulari and protect him from those seeking to derail his efforts. “Allowing his opponents to succeed would set Nigeria back and reduce NNPCL to a drain on resources,” the statement warned.

The Situation Room also called on media organizations to strengthen their gatekeeping to prevent the spread of fake news, which they argue risks discrediting the media and fueling public unrest.

“Those opposing Mr. Ojulari’s reforms will do everything to protect their illicit financial flows, but they have no right to halt Nigeria’s progress,” Atawodi added.

The group concluded by demanding that those behind the smear campaign cease their efforts and allow Ojulari to continue his work for the benefit of the nation. “Enough is enough,” the statement declared.

Energy Group Knocks PETROAN, Accuses Marketers of Sabotaging Petroleum Sector Reforms

The Centre for Oil Sector Accountability and Reform (COSAR) has dismissed claims by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) that Dangote Refinery’s business model poses a threat to competition and employment in the downstream petroleum sector.

In a detailed statement issued on Monday by Dr Raymond Osaremen Okojie, president of COSAR, the group said PETROAN’s criticisms of the refinery’s adoption of a forward integration strategy and its planned use of a private sector equalization system reflect a fundamental misunderstanding of free-market economics.

“The recent statement credited to PETROAN on the impact of the introduction of a private equalization fund betrays the very ethos of running a free market,” Dr Okojie said.

“What Dangote is offering is a private sector equivalent of the petroleum equalization fund that was established in 1975 by General Yakubu Gowon, amended in 1989 by General IBB, and modified into bridging allowances in 2021.”

He explained that the refinery’s pricing model will foster uniformity in fuel pricing across the country, enabling better inflation tracking and more accurate determination of fuel consumption.

“This equalization fund will not only create a uniform pricing regime for PMS across Nigeria, which will help the NBS model the CPI basket for inflation for the share contributed by the energy basket, it will help the government find a forward curve for the actual daily consumption numbers that the government has struggled with discovering for over 40 years,” he said.

Okojie dismissed claims that Dangote Refinery would drive modular refineries out of business, insisting that no competition currently exists between them in the production of Premium Motor Spirit (PMS).

“The Dangote Refinery is not in competition with modular refineries because modular refineries do not produce PMS. As we speak, none of the modular refineries are able to produce PMS because they lack a catalytic converter or a catalytic reforming unit to process higher distillates like PMS,” he said.

On the question of job displacement, the group countered PETROAN’s assertions, arguing that the refinery will create more employment opportunities than it threatens.

“Dangote is going to employ 4,000 truck drivers and mechanics, and deploy mother stations for compressed natural gas under the government’s gas-to-transport initiative for engines with displacement of more than 2,000 CC,” Okojie said.

“Those 4,000 jobs and all the supporting redundancies will not only create employment, it will also reduce the carbon footprints that are emitted from carbon monoxide gases when fossil fuel trucks are fired for transportation.”

He added that the model presents unique advantages for filling station operators.

“This is to the benefit of station owners, because not only do they get lifted of the burden of assuming haulage risks and costs from Dangote delivering to them Cost, Insurance and Freight (CIF), they also have a financing window from the refiner. There’s nowhere in the world where a refiner offers downstream station owners credit facility to take products,” he declared.

Okojie accused elements in the current supply chain of resisting change in order to protect vested interests that have long exploited inefficiencies in the downstream petroleum sector.

“The lobby complaining are people not interested in serving the needs of Nigerians, but layering systems cost from landing to distribution,” he said.

“For decades, we have seen cartels emerge from offshore blending plants, to shipping tanker owners, to depot owners, to truck drivers, that have fixed the price of white transportation fuels, delivered sub-par standard products for Nigerians, violated the provisions of the PIA, falsified landing numbers to justify the lifting of the crude oil feedstock used for swaps, and falsified the daily consumption numbers.”

He maintained that the emergence of a well-capitalised local refiner signals the end of an era of arbitrage, unaccountable supply practices, and fuel subsidies built on opaque numbers.

“The marketers have a choice to either fall in line with the evolution of the markets or form a consortium and contribute their offshore savings towards building their own refinery to compete. The era of swaps, arbitrage, layering of systems costs is gone — welcome to capitalism.”

Dangote Refinery, Africa’s largest, has a refining capacity of 650,000 barrels per day and is expected to supply Nigeria’s domestic fuel needs while exporting excess products.

Its direct delivery model and investment in gas-powered logistics infrastructure mark a shift toward vertically integrated fuel supply chains.

Divorce Showdown: Yul and May Edochie’s Legal Battle Intensifies as Court Orders Further Talks

The divorce saga between Nollywood star Yul Edochie and his estranged wife, May Edochie, has taken a new turn as their lawyer, Emeka Ugwuonye, shares fresh updates on the high-profile case.

In a dramatic legal development, the court held a compulsory conference as mandated by Nigerian family law. This legal process requires both parties to engage in discussions, along with their lawyers, in an attempt to resolve at least some of the contested issues before the court.

Ugwuonye, in a Facebook post, provided a detailed breakdown of the proceedings:

DPA UPDATE ON THE DIVORCE CASE OF MARY YUL-EDOCHIE V. YUL EDOCHIE AND UCHECHUKWU JUDITH MUOGHALU (JUDY AUSTIN)

“The court held a hearing on the case today. The issue before the court was the report of the compulsory conference previously ordered by the judge.

A compulsory or mandatory conference is a requirement in family law proceedings under Nigerian law. It provides an opportunity for the divorcing parties to discuss and attempt to reach agreements on certain aspects of their separation, such as property division and other contested matters. Any agreements reached are then conveyed to the court through a formal report.

However, in the last court session, it was revealed that no conclusive agreement had been reached between Yul and May Edochie. As a result, the court extended the timeframe for further discussions, granting them more time to hold another virtual conference.

The court expects to receive an updated report during the next hearing scheduled for March. If the parties continue to disagree, the court will then decide the direction of the trial.

This latest update comes as May Edochie continues to push for legal resolution regarding her marriage, while Judy Austin’s involvement in the case remains a key point of contention. She stands accused of committing adultery with Yul Edochie and falsely claiming to be married to him despite his legal ineligibility for a second marriage.

With tensions running high, all eyes are now on the next court date to see whether the estranged couple will reach any form of settlement or if the case will escalate into a full-blown courtroom battle.

Stay tuned for more updates on this unfolding legal drama.