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Corruption, Injustice, Unfairness have Eaten deep at NNPC -Staff

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NNPCL Fails To Remit $6.9 Billion, Swaps $7.1 Billion Worth Of Crude In One Year

Corruption, Injustice, Unfairness have Eaten deep at NNPC -Staff

By Ifeoma Ikem

 

 

 

Some of the staff of the Nigerian National Petroleum Corporation (NNPC) says corruption, injustice and unfairness have taken deep at NNPC and are clearly exhibited on a daily basis.

 

 

 

 

 

Some of the anonymous staff who spoken to our reporter that an entity that is supposed to be responsible for harnessing Nigeria’s oil and gas reserves for sustainable national development has now banded as Northern Nigeria Petroleum Company.

 

 

 

 

They claimed that out of the eight members of the Senior Management Team, Six are Northerners, while there are only two members from the Southern Nigeria, One from South South and the other from the South West while there are no member from the South East, despite that the Board Chairman Mrs. Okadigbo and One Henry Obi who hailed from the South East are on the Board of the NNPC.

 

 

 

 

It revealed that Strategic Business Units (SBUS) are heavily manned by the Northerners for example TRADING, NAPIMS, NPDC, NRL and most of the assets (OMRS) in NPDC are managed by the Northerners.

 

 

 

 

They said that the corruption, injustice and unfairness are reeking up to high heavens as Nue Oil Energy Ltd a company registered on March 9th, 2022 with a share of One Million bought 100 percent shares in OVH Energy Marketing Ltd and ASPM Ltd from OVH Energy BV, a joint Venture between Vitol and Helios in September 2022.

 

 

 

 

They also added that although very painful, the acquisition cost was not stated in the filing at the Nigeria Stock Exchange (NSE).
The Staff of NNPC Ltd are largely pained that in the same September 2022 NNPC Ltd acquired the assets from Nue Oil a company with two Directors-Dagazau Mumuni, Chief Operating Officer, OVH and Shanono Sharif Zailani, River Brand Energy Ltd as stated in the Corporate Affairs Commission (CAC) document of the company (NUE OIL ENERGY) with reckless impunity.

 

 

 

 

The GECO had directed the management of OVH to take over the management of NNPC Retail Ltd while Dagazau Mumuni, COO, OVH and Director in the NUE OIL ENERGY was appointed as Special Adviser Downstream to the GECO, NNPC LTD when there is EVP, Downstream NNPC Ltd.

 

 

 

 

The GECO in the last one year has carried out illegal recruitment of staff into the NNPC LTD, while the NNPC Retail Ltd Staff have been excluded in the implementation of the PIA as it relates to transfer of staff to NNPC LTD as the GECO ensures that his cronies are appointed to be at the head of affairs at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Midstream Downstream Petroleum Regulations Authority (NMDPRA).

 

 

 

 

The Staff of NNPC Ltd are not pleasant with the appointment of Mr. Huub Stokman, a white man as the Management Director (MD) NNPC Retail Ltd, whereas they are Nigerians with more cognate industry experience, competency and capacity in the Downstream Sector of the Nigerian Oil and Gas Industry.

 

Corruption, Injustice, Unfairness have taken deep at NNPC -Staff

 

 

Available information from the CAC on the NNPC Retail Status shows that Stokman is not a Director in NNPC Retail Ltd since he does not have a valid work permit from the Nigerian Immigration Services (NIS).

 

 

 

 

 

The Staff were disappointed that Stokman and his Management Team OVH in 2021 recorded a huge loss of over four billion naira only, with a 5% market share and expenses of over twenty-five (25) billion naira only for 2021-2022.

 

 

 

They noted however, that while the NNPC Ltd Staff in 2021 NNPC Retail netted a profit of over five billion naira only, a market share of 100 percent made a retained profit of over ten billion naira only and a support expense of less than five billion naira only for 2021-2022.

Meanwhile, the actions of Stokman has caused disaffection, disunity and demotivation of NNPC Retail Staff as a result of the imposition of his OVH Staff as management team on NNPC Retail Staff, despite the uncommon and immense contributions to the unimaginable growth and success of the company even with some NNPC Retail Ltd.

 

 

 

 

They also claimed that some of the staff with over 15 years Cognate Downstream Experience, Competency and Capacity before joining the NNPC Retail Ltd, very sadly have not been promoted since they were employed in NNPC Retail Ltd over ten years ago.

 

 

 

 

The staff are asking questions `WHO actually acquired WHAT? Did NNPC Ltd acquire NUE OIL ENERGY (OVH) or vice versa.

 

They, therefore. made a clarion call on the President of the Federal Republic of Nigeria, His Excellency Asiwaju Bola Ahmed Tinubu (GCFR) and his presidency to urgently salvage the National Oil Company from the hands of the heavily corrupt management overseeing the affairs of the NNPC Ltd and her subsidiaries.

 

 

 

They also request the powers that be, that they should be immediate investigations of NNPC Ltd and her subsidiaries in areas of fronter exploration activities, DSD/PPSA/under recovery etc.

 

 

 

 

Other areas are Non-functionality of NNPC refineries (turn around maintenance-tam funding), daily PMS consumption, perianal fuel scarcity from February 2022 to May 2023, white product allocation and distribution by NNPC-PPMC, trading and NRL from 2019-date.

 

 

 

 

Also, in allocation of Ojo Domestic LPC scheme (EXONMEBIL), alleged theft of 80% of crude oil production in Nigeria, Ownership, management and functionality of the OMLS under NNPC ltd, 20% NNPC ltd investment in the Dangote Refinery, NUE oil energy acquisition etc

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TRADEMARK INFRINGEMENT—Federal High Court Abuja Stops Mamuda Beverages from Further Producing its Pop Power Energy Drink in Its Present Bottle Design

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TRADEMARK INFRINGEMENT—Federal High Court Abuja Stops Mamuda Beverages from Further Producing its Pop Power Energy Drink in Its Present Bottle Design

In keeping with a clear understanding of conducting business within the confines of the rules, the  Federal High Court in Abuja has again ordered Mamuda Beverages Nigeria Limited (“Mamuda”) to stop producing its Pop Power Energy Drink, which infringes on the trademark of the popular Fearless Energy Drink brand of Rite Foods Limited.

This rulings on Mamuda’s Notice of Preliminary Objection and Rite Foods’ Motion for interlocutory injunction were delivered by Hon. Justice B.F.M. Nyako, on Friday, 22nd May 2026, in the Suit No. FHC/ABJ/CS/705/2025. At the proceeding of the day, Mamuda’s Notice of Preliminary Objection was refused and dismissed, while Rite Foods’ application for injunctive reliefs prohibiting Mamuda from further trademark infringement was granted.

In the court’s ruling, Hon. Justice Nyako refused Mamuda’s Notice of Preliminary Objection which had challenged the suit on the basis of abuse of court process and held that Rite Foods’ present complaint of infringement of its intellectual property is distinct from an earlier suit between the parties, wherein Rite Foods had complained about a different act of infringement.

The court further held that it appears on its face that Mamuda’s newly introduced bottle design, manufactured, still bears a striking resemblance to Rite Foods’ established Fearless Energy Drink product. Therefore, the court granted an order restraining Mamuda from further production of its Pop Power Energy Drink product, pending the final determination of the suit.

Accordingly, the court ordered Mamuda to cease production of the product forthwith, destroy all existing products, and directed the court Bailiff, in conjunction with the parties, to undertake an inventory of the products slated for destruction and file the same.

The court further ordered that the injunction shall remain in force until the end of the year or pending the determination of the substantive suit.

Consequently, the court adjourned the suit to Wednesday, 23rd September 2026, for the hearing of the substantive suit.

This order follows an earlier suit against Mamuda in January 2025, where Rite Foods sued the company for infringing on the trademark and design of its iconic Fearless Energy Drink through the launch of a lookalike product, Pop Power Energy Drink.

However, Mamuda, in an apparent admittance of guilt, sought a settlement, and terms of settlement were agreed and filed, and the court entered same as its consent judgment. Some of the terms of settlement included that Mamuda would desist from further violation of Fearless Energy Drink trademark and identity pass-off. It also agreed to destroy all infringing products and pledged to change its design and avoid any form of identity imitation.

In an unexpected turn, Mamuda subsequently reintroduced Pop Power into the market, with only cosmetic adjustments to its appearance. Rite Foods maintains that these changes are minor and do little to address the original issues of consumer confusion. Reports from the market indicate that the new Pop Power continues to be informally referred to as “small Fearless,” reinforcing concerns that the revised product may not only breach the spirit of the earlier agreement but could also undermine consumer clarity and brand differentiation.

While reaffirming its position, Rite Foods stressed its continued commitment to protecting its brand and the principles of innovation and fair competition in Nigeria’s marketplace.

The company emphasized that genuine business growth must be anchored on originality and respect for intellectual property, rather than imitation and fraudulent business practices.

 

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S&P: Dangote Refinery Driving Nigeria’s Economic Resurgence

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NLC Commends Dangote Refinery, Urges FG to Sell Adequate Crude in Naira to Reduce Fuel Prices

S&P: Dangote Refinery Driving Nigeria’s Economic Resurgence

 

The Dangote Petroleum Refinery & Petrochemicals is emerging as a major driver of Nigeria’s improving economic outlook, following the country’s sovereign credit rating upgrade by S&P Global Ratings.

 

In its latest assessment, S&P upgraded Nigeria’s long term foreign and local currency sovereign credit ratings to “B” from “B-”, citing stronger economic growth, improved external balances, rising oil production, and expanded domestic refining capacity as key factors supporting the country’s recovery.

 

The global ratings agency specifically identified the operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals as a major contributor to Nigeria’s improving balance of payments position and broader economic resilience.

 

According to S&P, the refinery’s full capacity operations are helping to strengthen Nigeria’s current account surplus, reduce dependence on imported refined petroleum products, and improve foreign exchange liquidity.

 

“Significant refining capacity is now also online; Dangote Industries Ltd.’s large scale refinery and petrochemical complex has ramped up to near its maximum capacity of 650,000 barrels per day,” the report stated.

 

S&P projected that Nigeria’s current account surplus would improve to 5.8 per cent of GDP in 2026 from 4.8 per cent in 2025, supported partly by increased domestic refining and hydrocarbon exports.

 

The report noted that the refinery is helping to ensure the availability of refined fuel, gas, and fertiliser for the domestic market, while also providing a buffer against global supply disruptions triggered by ongoing geopolitical tensions in the Middle East.

 

The agency further stated that Nigeria’s improving external position has been supported by reduced fuel import dependence, the removal of fuel subsidies, exchange rate liberalisation, and higher oil production.

 

Foreign exchange reserves, according to S&P, have risen significantly from about $33 billion in 2023 to nearly $50 billion by early 2026, aided partly by lower import demand for refined petroleum products following the commencement of operations at the Dangote Refinery.

 

The report also highlighted the refinery’s broader role in supporting Africa’s industrialisation ambitions, noting that Nigeria is transitioning from being primarily a crude oil exporter to an emerging producer and exporter of refined petroleum products.

 

S&P disclosed that Dangote Industries has already unveiled plans to undertake feasibility studies aimed at expanding refining capacity to about 1.4 million barrels per day from the current 650,000 barrels per day.

 

The agency said the planned expansion, alongside the rehabilitation of other local refineries, could further strengthen Nigeria’s economy and deliver additional gains to the country’s balance of payments position over the next few years.

 

While acknowledging that global crude oil prices and market driven pricing continue to influence domestic fuel costs, S&P maintained that the increased local refining capacity provides Nigeria with greater energy security and reduced exposure to external supply shocks.

 

The report also linked Nigeria’s improving macroeconomic outlook to reforms undertaken since 2023, including exchange rate liberalisation, fiscal reforms, higher petroleum revenue remittances, and efforts to improve oil production through enhanced security in the Niger Delta.

 

S&P said Nigeria’s economic growth is expected to remain firm despite inflationary pressures, with reforms continuing to support investor confidence and non-oil sector expansion.

 

The stable outlook, according to the agency, reflects a balance between Nigeria’s improving external position and continuing structural challenges such as a narrow tax base, high inflation, and low formal employment levels.

 

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First HoldCo Group Companies’ Boards and Management teams visit Dangote Refinery

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First HoldCo Group Companies’ Boards and Management teams visit Dangote Refinery

…All Nigerians will have access to the Refinery’s IPO and be part-owners-Dangote

 

 

Chairman of FirstHoldCo, Femi Otedola, has appealed to the President of Dangote Group, Aliko Dangote, to allocate $100 million worth of shares to him in the proposed listing of Dangote Petroleum Refinery & Petrochemicals. He disclosed that he divested his stake in Geregu Power Plc specifically to position himself for investment in the refinery’s initial public offering (IPO), which he described as a transformative industrial platform helping to free Africa from decades of reliance on imported petroleum products.

Otedola made these remarks during a visit by the FirstHoldCo leadership team to the 650,000 barrels-per-day refinery and Dangote Fertiliser Limited in Ibeju Lekki, Lagos, where he commended Dangote for building the world’s largest single-train refinery and accelerating Africa’s industrial transformation.

“He is a genius and one of the greatest men to emerge from Africa. What he has achieved is helping to liberate the continent from economic dependency and import reliance,” Otedola said. “I have visited this refinery more than 25 times, and I have consistently appealed for $100 million worth of shares during the private placement. That informed my decision to sell my stake in Geregu so I can reinvest in the Dangote Petroleum Refinery.”

Otedola also expressed strong confidence in the Group’s planned expansion of refining capacity to 1.4 million barrels per day, noting that Africa’s growing demand for refined petroleum products clearly supports further investment in domestic refining infrastructure.

In his remarks, President of Dangote Group, Aliko Dangote, assured that the refinery’s IPO would be broadly inclusive, enabling ordinary Nigerians to become part-owners and benefit from its value creation. He emphasised that the Group is committed to democratising access to investment opportunities by opening participation to retail investors across Nigeria and the African continent.

“We want ordinary Africans to participate in the value being created,” Dangote said. “What companies like Amazon and Apple achieved globally in terms of wealth creation is what we seek to replicate in Africa. We want people to invest, grow with us, and share in the prosperity.”

Dangote further disclosed plans for a proposed East Africa refinery with a projected capacity of 700,000 barrels per day, alongside polypropylene and base oil production facilities. According to him, the project could commence within the next three to four years once construction begins. He noted that the initiative was not originally captured in the Group’s Vision 2030 strategy, underscoring the company’s trajectory toward exceeding its long-term growth targets.

Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, described the refinery as a symbol of vision, courage, and industrial ambition capable of inspiring similar investments across Africa.

“If you see this refinery and realise that an individual conceived and delivered a project of this magnitude, already helping to stabilise energy supply across Africa, you cannot help but be inspired,” Alebiosu said. “We have delegates here from the United Kingdom and several African countries who will return home with renewed commitment to building industries that can transform their economies. It is about building Africa together.”

Dangote also highlighted the Group’s sustained leadership across its core businesses over the past five years, including cement operations in 11 African countries, alongside significant investments in refining, petrochemicals, and fertiliser production. He noted that cement capacity has expanded to 55 million tonnes per annum, supported by the development of clinker export terminals to strengthen regional trade.

“We have built businesses that address Africa’s critical needs and create long-term value for the continent,” Dangote said. “Africa must stop exporting raw materials and importing finished goods. That amounts to exporting jobs and importing poverty.”

He added that investor appetite for the refinery’s listing on the Nigerian Exchange has remained exceptionally strong, with demand for the private placement already exceeding $2 billion.

“There is significant interest in both the IPO and the private placement,” he said. “While we are not able to meet all requests, the strong demand reflects investors’ confidence in the refinery and in Africa’s industrial future.”

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