Business
NNPC: Looking Beneath The Sustained Disinformation Charade
NNPC: Looking Beneath The Sustained Disinformation Charade
Sahara Weekly Reports That There is a steady and sustained dispensation of disinformation about Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited. But, what did Kyari do to upset the apple cart? Is he a victim of his success? What could he have done to offend those attempting to obliterate his catalogue of achievements, and hanging him out to dry as an economic saboteur?
There is a frightening volume, velocity, and variety of campaigns of calumny against Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPC.
In the past couple of weeks especially, a deluge of disingenuous disinformation, dilettante opinion articles and editorials, blog posts, and even tweets has been unleashed, underpinning the consensus that ‘Project Batter, Bruise, Bash, and Boot Out Kyari’ is in motion and has become the sun around which the daily to and fro of the masterminds revolves.
Given his successful turnaround records in the NNPC, it would have been easy to say that the masterminds are on a wild goose chase. However, a lie left unchallenged for too long may be taken as the Holy Grail.
The oil and gas industry is Nigeria’s cash cow and has churned out substantive and emergency billionaires. Before it transitioned into a limited liability company, the legacy corporation, NNPC, was regarded as the cash dispenser (Automated Teller Machine) of successive Nigerian governments.
Oil theft and pipeline vandalism were the order of the day with the resultant effect on production. Over the years, billions of naira went down the drain in the name of reviving the comatose refineries while the corporation was never known to remit revenue to the federation account.
Nigerians have not forgotten how former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, caused nationwide panic when he said that $20 billion in oil revenue had not been accounted for. It was the reign of flagrant impunity, opacity, and corruption.
Then came Mele Kyari, the University of Maiduguri-trained geologist. He superintended the corporation’s transition into a limited liability company and has been steering its ship adroitly since then.
In two years, the NNPC has grown from a loss-making position to a profit-making entity. The days of opacity are over with the introduction of the Transparency, Accountability, and Performance Excellence (TAPE) initiative, which occasioned the publication of the Monthly Financial and Operations Reports (MFOR), underscoring the corporation’s commitment to transparency, accountability, and open dialogue that are fundamental to building public trust.
The TAPE initiative, Kyari said, “places NNPC in a unique position globally as the only national oil company that publishes its financial and operations reports every month. Such transparency not only enhances accountability but also provides valuable insights into NNPC’s activities, performance, and strategic direction.”
Further, Kyari enlisted the NNPC l with the global transparency body, Extractive Industries Transparency Initiative (EITI), a Norway-based organisation that seeks to establish international standards for the good governance of oil, gas, and mineral resources while addressing the key governance issues in the extractive sectors.
In its recent global assessment of the NNPC, the EITI scored the corporation high for enhanced transparency and accountability standards, increased competitiveness, and concerted efforts in combating corruption in the global oil, gas, and mining sectors.
He also instituted a broad range of reforms including collaborating with security agencies and private security contractors while also establishing a control centre known as the Central Coordination, Data Integration, and Activation Control Room to provide surveillance of all the country’s oil and gas assets in the Niger Delta.
The NNPC Data Control Centre uses video visibility to monitor the pipeline networks in the Niger Delta where more than 90 per cent of the country’s crude is explored.
Kyari has vowed to get the Kaduna, Port Harcourt, and Warri refineries working optimally again, promising that Nigeria will become a net exporter of petroleum when they are rejuvenated. He has also led the charge in reducing the impact of the fuel subsidy removal on Nigerians with the implementation of the Presidential Compressed Natural Gas (CNG) initiatives launched by President Tinubu to provide cheaper alternative fuel to motorists, stimulate the economy, and reduce carbon footprints.
Despite this catalogue of achievements, Kyari continues to be blackmailed, vilified, and scapegoated by the oil mafia who want the old days of flagrant impunity and milking of Nigeria’s commonwealth to return.
Nigeria’s economy is slowly rebounding after tailspinning into an abyss due to bad management. But the recovery pace has been further slowed down by the forces that want to hang Kyari out to dry.
He has been accused of sabotaging the Dangote Refinery by not meeting up with its crude oil supplies. But he denied the allegation saying the law is clear on domestic crude oil supply obligations and providing for local refineries.
“(The) Refining business is a straightforward business. You must secure (a source for) your feedstock and you must find a market. This is basic and this determines what happens in any refinery anywhere in the world. That is the business of refining. We have done nothing to sabotage any domestic refinery,” Kyari stated.
While appearing before an ad hoc senate committee on August 7, Kyari declared that the attacks were deliberate and calculated to create the impression that the NNPC and its leadership are creating economic sabotage in the country, saying, “And all of us see what is happening in the media – targeted personal attack on my person, on the institution, and we all know how this works.”
On the alleged importation of sub-standard products into the country, Kyari said the NNPC Limited has nothing to do with that as the relevant regulatory agencies will, by law, not allow any sub-standard product into the country.
The most recent attack came from the regional newspaper, Daily Trust, which jumped on the obnoxious bandwagon with the editorial, last Monday, “NNPC Must Go,” asking rather astonishingly, “Is the NNPC a state-owned enterprise, a public service provider like a university or yet, a private company like Innoson Motors? Or is the NNPC all three at once?” Even a kindergarten pupil knows that after about 45 years of operating as a fully-owned government company, the NNPC was transformed into a limited liability company in July 2022 as the only entity licensed to operate in the country’s petroleum industry. And, it has been operating as such for the past two years, and profitably and transparently too.
It is one of three things – either Kyari is a victim of his success, a soft target for the prevailing economic hardship, or he is merely a personification of the aphorism; uneasy lies the head that wears the crown. Whatever it is, the damaging disinformation needs to stop immediately in the interest of Nigeria.
SOURCE: pmexpressng.com
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.
But that narrative is quietly changing. Thanks to FirstBank.
The N1 Trillion Intervention Reshaping Access
In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.
Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
9.75% Interest Rate in a 30% Lending Environment
MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
Built for Salary Earners, Entrepreneurs and the Diaspora
The MREIF mortgage facility has been structured to be inclusive. It is available to salary account holders, business owners and diaspora customers. Whether you are a young professional aiming to exit the rent cycle, an entrepreneur building generational stability, or you’re a Nigerian abroad looking to secure assets locally, the product opens a pathway that has historically been out of reach for many.
Taking the First Step
For those who have been waiting for the right time, this is definitely it. The question is no longer whether homeownership is possible. The real question is: will you act before the window narrows?
Visit https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ and in no time you could be the latest homeowner in town.
Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Nigeria insulated from international fuel shocks as Dangote Petroleum commits to uninterrupted local delivery.”
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to prioritising the domestic market, pledging to shield Nigerians from the ripple effects of ongoing global energy disruptions. The assurance, delivered in Lagos on 5 March 2026, comes as international refinery operations experience shutdowns or reduced output due to escalating Middle East geopolitical tensions, which have sent crude oil and petroleum product prices soaring worldwide.
“Our mandate remains clear: Nigeria’s local market takes precedence. In times of global supply shocks, we will continue to ensure that domestic availability of petrol, diesel, and kerosene is uninterrupted,” said Mr. Folorunsho Alakija, spokesperson for Dangote Petroleum Refinery.
The refinery’s declaration arrives amid mounting concerns over fuel scarcity, triggered by export restrictions imposed by major international producers, including China, and shipping delays that have further tightened global petroleum supply chains. Industry analysts have hailed the domestic focus as a critical buffer against volatility that could otherwise push Nigeria into deeper energy insecurity.
Domestic Shield Against Global Disruption
Dangote Refinery, Africa’s largest oil processing facility, has leveraged its multi-million-barrel refining capacity to mitigate Nigeria’s historical dependence on imported petroleum products. The company emphasised that prioritising local supply provides a strategic advantage in insulating the nation from international market shocks.
“Our refinery’s scale allows Nigeria to withstand short-term external disruptions. We have the infrastructure and capacity to meet local demand even when global supply chains falter,” explained Mr. Chijioke Okonkwo, Operations Director at Dangote Refinery.
The proactive approach is particularly significant as several international refineries have either reduced throughput or temporarily halted operations, causing a global scarcity of refined products. Experts warn that without domestic cushioning, fuel prices in Nigeria could have surged sharply, exacerbating inflationary pressures in a fragile economy.
Managing Costs While Prioritising Supply
In response to rising procurement costs for crude oil amid the international crisis, Dangote Refinery introduced a modest ₦100 per litre increase in the ex-depot price of Premium Motor Spirit (PMS), absorbing roughly 20 percent of the cost escalation to lessen the impact on consumers.
“We are balancing operational sustainability with affordability. While global prices have risen sharply, we have chosen to absorb a significant portion to protect Nigerian households and businesses,” noted Mr. Emmanuel Adeyemi, Chief Finance Officer.
This pricing strategy underscores the refinery’s dual focus: ensuring uninterrupted supply while cushioning the public from abrupt spikes that could destabilize economic activity. Industry observers have lauded the approach as pragmatic, considering the volatility in international oil markets.
Strategic Distribution Initiatives
Beyond refining, Dangote Petroleum has initiated Compressed Natural Gas (CNG) powered trucks to enhance nationwide distribution efficiency. The initiative seeks to reduce logistics costs and carbon emissions while ensuring a more reliable delivery network to petrol stations across urban and rural areas.
“Logistics is a critical part of the energy supply chain. By deploying CNG-powered trucks, we reduce dependency on expensive diesel, lower delivery costs, and improve supply reliability across the country,” explained Ms. Funke Adedoyin, Head of Logistics Operations.
This strategic move reflects a broader commitment to modernising Nigeria’s petroleum distribution infrastructure, reducing bottlenecks that have historically contributed to scarcity at retail outlets.
Implications for National Energy Security
Nigeria has historically struggled with fuel imports to meet domestic demand, making the country vulnerable to international market fluctuations. Dangote Refinery’s prioritisation of local supply mitigates this vulnerability by leveraging home-grown refining capacity, which allows for timely access to petroleum products and less reliance on foreign shipments.
“With Dangote Refinery leading local prioritisation, Nigeria is less exposed to global fuel shocks. The country is moving towards self-reliance in petroleum product supply,” commented Dr. Halima Suleiman, energy sector analyst.
Experts note that sustained operations at the refinery not only enhance energy security but also preserve foreign exchange, reduce import bills, and stabilise domestic market prices.
Corporate Social Responsibility and Market Stability
The refinery’s commitment is part of a broader corporate responsibility framework. Dangote Petroleum continues to engage with government agencies and regulatory bodies, ensuring that domestic supply is coordinated with Nigeria’s Petroleum Product Pricing and Regulatory Agency (PPPRA) to prevent panic buying and market distortions.
“We are in constant consultation with the government to ensure that our supply strategies align with national economic priorities,” said Mr. Alakija.
Such collaboration helps avert artificial shortages, stabilises pump prices, and maintains confidence in the domestic fuel market. Analysts argue that this approach exemplifies how private sector capabilities can complement governmental policies to enhance national resilience.
Navigating Global Uncertainties
The refinery operates in a complex global environment, where geopolitical crises, shipping constraints, and crude oil volatility can trigger disruptions. Dangote Petroleum’s domestic-first approach positions Nigeria to weather such crises more effectively.
“Global uncertainties are unavoidable, but our infrastructure and strategy ensure that Nigerians remain insulated from immediate shocks,” said Mr. Okonkwo.
This emphasis on resilience aligns with global best practices, where national refining capacity is leveraged to protect local markets from international supply disruptions.
Stakeholder Reactions
The government, civil society, and industry stakeholders have welcomed Dangote Petroleum’s strategy. Officials from the Federal Ministry of Petroleum Resources noted that prioritising local supply aligns with Nigeria’s energy security policies and reduces the burden of foreign exchange expenditures on crude imports.
“Dangote Refinery is demonstrating leadership. Its domestic prioritisation ensures that the Nigerian economy remains insulated during turbulent global markets,” said Dr. Tunji Olumide, Special Adviser on Energy.
Consumers have also expressed cautious optimism. Retail operators and commuters reported steadier fuel availability in Lagos and other cities, though concerns remain about sustained pricing and distribution efficiency.
The Road Ahead
While Dangote Refinery’s strategy provides immediate relief, experts argue that long-term stability requires further investments in alternative energy, diversified refining infrastructure, and strategic reserves. This ensures that Nigeria can withstand global shocks without relying excessively on imports or temporary supply adjustments.
“Short-term measures like prioritising local supply are critical, but long-term energy security demands diversification, renewables adoption, and consistent policy implementation,” said Dr. Suleiman.
The refinery is exploring additional initiatives, including expanding storage capacity, upgrading pipeline networks, and adopting technology-driven monitoring systems to ensure supply continuity across the country.
Final Take
By prioritising domestic fuel supply amid global market turbulence, Dangote Petroleum Refinery and Petrochemicals has demonstrated its role as a stabilising force in Nigeria’s energy sector. Through strategic logistics, modest pricing adjustments, and engagement with government regulators, the refinery is insulating the nation from international shocks while maintaining operational sustainability.
“Our responsibility extends beyond profitability; it’s about ensuring Nigerians have reliable access to essential fuel. We take that mandate seriously,” concluded Mr. Adeyemi.
The refinery’s actions offer a blueprint for how large-scale domestic capacity can protect national economies in times of global energy instability, underscoring the critical intersection of private sector resilience, public policy, and national energy security.
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