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Unmasking the Maltese Cross of Corruption* By Arnold Owie

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*Unmasking the Maltese Cross of Corruption*

By Arnold Owie

 

A national scandal has unfolded with the revelation of substandard petroleum products being imported into Nigeria, linked to a shadowy oil blending plant in Malta. Leaked documents and interviews expose a complex web of corruption involving NNPC personnel, oil traders, and terminal operators. Matrix Energy, owned by Abdulkabir Adisa Aliu, a member of the Presidential Economic Coordination Council (PECC), is at the center of this scandal. The company has been importing low-grade petroleum products from Russia, blending them in Malta, and selling them in Nigeria.

Aliu’s actions demonstrate a disregard for the Nigerian people’s welfare. Matrix Energy’s logistical infrastructure suggests a deliberate attempt to undermine local refinery efforts, ensuring continued importation of inferior fuel products. The allegations against Aliu are severe, including securing preferential access to crude oil cargoes and trading them through a UAE-based entity.

The Malta saga is a damning indictment of the entire system, with Farouk Ahmed and Mele Kyari facing scrutiny for their alleged complicity. The NNPC’s failure to curb substandard fuel imports is a testament to its incompetence or complicity, betraying public trust and national pride.

The exposé’s severity is heightened by Russia’s expulsion from the SWIFT global banking network, making oil and gas dealings between Nigerian entities and Russian refineries illicit. Shipping data reveals a disturbing trend: 15,000 tons of petroleum products were transloaded onto the ‘Matrix Triumph’ vessel on June 16 and discharged at Matrix Jetty in Warri on June 21 without rectification, implying toxic diesel is being sold to unsuspecting Nigerian consumers.

The House of Representatives’ visit to the Dangote Refinery on July 20, 2024, confirmed Matrix Energy’s importation of subpar diesel. Diesel samples from Matrix filling stations had a sulphur content exceeding 2,653ppm, far surpassing the 50ppm requirement. Aliko Dangote presented findings from an exhaustive analysis of diesel samples, revealing alarming sulphur content levels. The testing, conducted at Dangote Refinery’s state-of-the-art laboratories, employed precise protocols to measure total sulfur content in petroleum products.

Dangote revealed that the diesel samples were purchased in the presence of lawmakers, ensuring transparency and accountability. The test results showed that his refinery’s diesel boasted an exemplary quality, with a sulfur content of 600-650 ppm initially, and a remarkable 87 ppm currently. In stark contrast, the samples from TotalEnergies and Matrix Retail exhibited alarmingly high sulfur concentrations of 1,829ppm and 2,653ppm, respectively.

These findings corroborate the disturbing fact that certain companies have been peddling diesel with sulfur levels exceeding 2,000 parts per million, indicative of off-spec, adulterated products sourced from Russian refineries and purportedly “corrected” at blending plants in Malta and Lome. However, instead of rectifying the subpar fuel, a large-scale adulteration scheme was perpetrated, thereby posing grave dangers to the lives of consumers.

A report by Stakeholder Democracy Network (SDN), a non-governmental not-for-profit organization, said it appears to be easy for sub-standard fuel imports to enter Nigeria. “So it is probable that large volumes of fuel consumed are of poor quality, causing significant damage to public health, engines, and the environment. “This contributes to air quality levels that cut life expectancy by 4.7 years in the Niger Delta, the worst hit area across the African continent,” SDN said in its report.

The diesel produced locally in Nigeria is of a significantly higher quality than the fuel blended in Malta. This fact alone underscores the criminal nature of this operation. By importing inferior fuel, these unscrupulous individuals are not only defrauding the Nigerian government but also endangering the lives of millions of Nigerians. The long-term damage to vehicles and other machinery caused by these substandard products is incalculable.

In contrast to the greed and avarice displayed by those involved in the Malta saga, the figure of Alhaji Aliko Dangote stands tall as a beacon of patriotism and entrepreneurial spirit. Dangote’s strong commitment to building a world-class refinery in Nigeria is a testament to his belief in the potential of his country. Despite facing numerous obstacles and setbacks, he has persevered in his efforts to create jobs and generate wealth for the Nigerian people. Dangote’s refinery represents a tangible solution to the perennial fuel crisis and a catalyst for economic growth.

It is no coincidence that those involved in the Malta saga are vehemently opposed to Dangote’s refinery project. Their business model relies on the continued importation of substandard fuel, a practice that would be rendered obsolete by the existence of a local refinery. The Maltese cross of corruption is a formidable obstacle, but Dangote’s determination, coupled with the support of the Nigerian people, can overcome it.

This despicable scandal necessitates a prompt and resolute response from the government, entailing a comprehensive and unbiased investigation to hold accountable those responsible for these reprehensible actions. A radical overhaul and restructuring of the NNPC is imperative to prevent the recurrence of such abuses of power and ensure transparency. Moreover, the government must foster a conducive environment, conducive to the growth and prosperity of local refineries, thereby safeguarding our economy from the pernicious influence of saboteurs and revitalizing our oil and gas sectors with utmost haste.

Consequently, Male Kyari must be forthwith stripped of his position, while Adisa Aliu must be subjected to a meticulous and thorough investigation regarding his involvement in these sham dealings. The Nigerian populace deserves a government firmly committed to their welfare, and a petroleum sector distinguished by transparency, efficiency, and accountability.

The laxity in regulating fuel quality poses a grave and formidable health risk to the citizens of Nigeria, underscoring the imperative for a government that prioritizes their well-being. The Malta saga serves as a stark reminder of the formidable challenges confronting Nigeria, yet simultaneously presents an opportunity for transformative change. By unmasking the entrenched corruption and collusion that has long plagued the oil and gas sector, this scandal can catalyze a paradigm shift, heralding a new era of reform and accountability.

The Maltese saga Is a dark chapter in Nigeria’s history, but it can also be a turning point. By exposing the corruption and greed that have plagued the oil and gas sector, this scandal offers an opportunity to build a better future. A future where the nation’s resources are used for the benefit of its people, not the enrichment of a few.

Only by taking these steps can Nigeria hope to break free from the stranglehold of corruption and build a brighter future for its citizens.

Owie is an oil and gas expert writing from the United Kingdom.

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Unity Bank Projects N27B in Q4 Earnings, Targets N4B Profit

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Unity Bank Records N38.2 Billion Gross Earnings in Q3’23

Unity Bank Projects N27B in Q4 Earnings, Targets N4B Profit

 

Lagos.09.09.2024. Unity Bank Plc has projected gross earnings of N27 billion and a Profit After Tax of N4 billion in Q4, 2024, in its latest earnings forecast released to the Nigerian Exchange Group.

Although the projected gross earnings represent a marginal increase from the N26 billion projected for Q3 2024, the lender continues to maintain a profitable outlook, with pre-tax profit expected at N4.2 billion.

An analysis of the earnings forecast shows that the lender also expects interest income to rise from N23 billion to N24.5 billion, with net revenue expected to rise marginally by 1.0% to N7.2 billion within the quarter compared to N6.5 billion in Q3, 2024.

Net operating income is projected at N12 billion, while cash flow from financing activities is projected to rise to N481.4 billion from N353.6 billion, a 1.3% projected increase on a quarter-on-quarter basis. This projected growth in cash flow from financing activities continues to reflect the lender’s growing liquidity position which is essential for sustained business operations.

The lender said it expects to cover the milestones with a consistent optimistic outlook in its projection, barring any significant changes in the operating environment, under which the assumptions were made. The lender noted that it will continue to deliver top-notch customer-centric products and services, especially in the digital lending space following the roll-out of enhanced platforms and channels for superlative customer experiences.

Analysts are of the view that the Q4 forecast reflects a steady growth trajectory on the back of key performance indicators and strategic repositioning to hedge the challenging market conditions.

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DNA: Medical errors, inaccuracies in genetic testing, and baby exchange, among others responsible For Paternity Errors

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DNA: Medical errors, inaccuracies in genetic testing, and baby exchange, among others responsoble For Paternity Errors

DNA: Medical errors, inaccuracies in genetic testing, and baby exchange, among others responsible For Paternity Errors

 

 

Following recent DNA reports about paternity discrepancies, psychologists have linked  paternity fraud, where children do not belong to their supposed fathers to medical errors, inaccuracies in genetic testing, and baby exchange, among others

The mental health experts noted that several variables could lead to a situation where a child’s paternity was questioned, beyond the common blame on infidelity.

According to them, factors such as negligence, ignorance, and genetic testing errors could also contribute to this phenomenon.

They spoke exclusively with PUNCH Healthwise amid growing concern about paternity fraud, with increasing reports revealing that many children have been falsely attributed to men who are not their biological fathers.

 

 

In recent years, Nigeria has witnessed a disturbing trend of paternity fraud, where children are discovered not to belong to their supposed fathers.

This phenomenon has left many families in shock, with some marriages ending in divorce due to the discovery.

While infidelity is often linked to the primary cause of paternity fraud, psychologists, however, said there could be other factors at play.

 

Speaking with our correspondent, the experts said there was a need for couples to explore all options available before jumping to conclusions that the women cheated in the relationship.

While identifying the lack of pre-marital genetic testing as one of the factors that could be responsible, the mental health experts noted that prospective parents overlook the importance of comprehensive genetic screening, which could reveal potential issues before marriage.

 

They stressed that ignorance or negligence in this area might contribute to unexpected outcomes later in life.

 

A clinical psychologist at Lagos University Teaching Hospital, Dr Juliet Ottoh stressed the importance of exploring multiple factors before jumping to conclusions about infidelity.

Ottoh noted that while infidelity is often presumed to be the primary cause of paternal discrepancies, other significant factors could play a role.

She said these include the negligence of medical staff, inaccuracies in genetic testing, and even hospital errors such as baby exchanges.

Ottoh emphasised the necessity of thorough investigation, including verifying the results of genetic tests through reputable labs before making any assumptions about paternal identity.

 

“It is not always entirely the couple’s fault. Sometimes, it might just be a result of test errors, ignorance, or negligence. We’ve heard stories of babies being exchanged in hospitals due to negligence, leading to paternity issues,” she stated.

She further said, “There are a lot of factors that may be responsible for this. And that is why you must explore extensively to look at out for what are some of these factors.

“Sometimes, it is not entirely the couple’s fault, it might just be as a result of test, ignorance. In recent times, how many people still go to do genetic tests before marriage? Also, some of these genetic tests are queried.

“So, it is not entirely to say that one person is responsible for all these. Sometimes it is negligence. We have heard stories of where a lot of babies were born in the same hospitals and out of negligence, some of the babies were exchanged and they became a problem for their parents.

“We cannot entirely say it is infidelity that is the cause of all these paternal fraud cases. Before you label a situation, you must take a lot of detailed history to understand where the problem is coming from.

“For me, I will say you just ensure you go to the right lab. As it is, you can even try to get a second opinion from another good lab to ascertain your genotype before you venture into marriage.  If you have all of those sorted, then we can begin to query the other options. The most important thing you just get tested and confirm your genotype from a reputable lab.

“There are a lot of implications in marriages when these things come out. Partners need to be patient and understand what the problems truly are. If they understand that, they would be able to amend amicably.”

The psychologist stressed that genetic testing was crucial in such situations but advised couples to seek second opinions from reputable labs to confirm their genotypes before marriage.

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WHY IS PETROLEUM A PROBLEM IN NIGERIA

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NNPC cautions motorists, others against panic buying

WHY IS PETROLEUM A PROBLEM IN NIGERIA

By Dickson Omobola

 

The jigsaw puzzle surrounding the quantity of petrol, otherwise called Premium Motor Spirit (PMS), Nigeria consumes daily just got more puzzling as Sunday Vanguard understands that the figure went down to about 30 million liters per day after President Bola Tinubu’s ”subsidy is gone” statement of May 29, 2023 only to dramatically return to more than 60 million liters.

Multiple sources attributed the ‘magical’ rise to renewed smuggling of the product into neighboring countries where the price of the product is significantly higher than it is in Nigeria.

Until Tinubu ‘removed’ petrol subsidy via the 2023 Inauguration Day speech, the product sold for N254 but rose subsequently to N617 in Abuja and thereabouts in some parts of the country.

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In Lagos where it was cheapest, it sold for about N568 while it sold higher in other South-West states like Ogun, Oyo, Ondo, Osun and Ekiti.

In the North, South-South and South-East, it was a different ballgame as the price of petrol skyrocketed above N615 while independent marketers sold above N800.

The quantity of petrol consumed daily in Nigeria has for a long time been a controversial issue with many stakeholders saying it was shrouded in secrecy especially since the quantity determined the amount to be paid as subsidy which many people including government officials benefited from.

According to the Nigerian National Petroleum Corporation Limited (NNPCL), in the first three months of 2022, Nigeria recorded an average daily consumption of 64.14 million liters, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed in September 2022 that Nigeria’s average daily petrol consumption was 66.8 million liters.

However, at the beginning of 2023, the Group Chief Executive Officer of the NNPC Limited, Mele Kyari, said there was no credible data to ascertain the daily consumption of petrol in Nigeria while also stating that there was credible data on the actual volume of petrol evacuated from the depots.

Analysts believe the figures quoted are often that high because the bulk of the petrol earmarked for the local market is usually taken by smugglers across the borders, especially to neighboring countries, where the price of the product is very high because they don’t produce oil.

The smuggling of the product across the borders guarantees huge profits for those involved while subsidy also guarantees huge returns for marketers and government officials among others in the system.
But following the Inauguration Day pronouncement of Tinubu (subsidy is gone), daily consumption of petrol in Nigeria, according to sector regulator fell significantly.

Analysis of daily truck-out data published by the NMDPRA revealed that petrol consumption had reduced by more than 24 million liters per day on average.

The average daily consumption in May 2023 was 69.54 million liters which fell to 49.48 million liters in June, representing a 28.3% drop.

In July, this margin increased further to 34.61%, the equivalent of 24.06 million liters, and average daily consumption for the month fell further to 45.74 million liters.

The price of petrol in neighboring Benin Republic and Cameroon immediately soared, confirming the claim that both countries, among others, were befitting from the Nigerian subsidy regime.

Outside beneficiaries
Part of the reason adduced by the Nigerian government to cancel the subsidy regime is the fact that apart from the cabal using the regime to rip off government, nationals of neighboring were also beneficiaries.

But critics say the fact that government cannot police its borders in such a way that smuggling of petrol across the borders is stopped does not justify ending the subsidy regime that helps poor Nigerians to modulate the prices of other items that they need petrol to carry out.

Nigeria’s land borders are huge, covering an

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