NNPC Report: PPMC Recorded N102 Billion Loss in 2017 Chineme Okafor in Abuja An analysis of the December 2017 edition of the monthly operations and financial reports of the Nigerian National Petroleum Corporation
(NNPC) has revealed that Products and Pipelines Marketing Company (PPMC) exceeded the projected loss in its year-to-date (YTD) operations by about 240.1 per cent. THISDAY analysis of the latest NNPC report
showed that while PPMC, the downstream petroleum subsidiary of the corporation, only expected to make a loss of N30.144 billion in 2017, it eventually made a loss of N102.527 billion, thus translating to about 240.1 per cent increase between
the budgeted and actual loss expectations of the downstream company. According to a section of the report, which showed the group financial performances of all NNPC subsidiaries, even the Nigerian Petroleum Development
Company (NPDC), the upstream subsidiaries of the corporation, and Nigerian Gas Company (NGC) could not keep to their budgeted expenditure marks, as they both spent more money than they planned to in their YTD operations.
For instance, the report noted that the NPDC, which appeared to have increased its revenue as a result of the restoration of production after the Forcados pipeline outages in 2016 and first Cosntinued on page 8
See Report and Images from THISDAY Health Summit on Pages 70-74 Sunday 11 March, 2018 Vol 23. No 8361
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Ahead of Buhari's Visit, Obasanjo Makes Whistle-stop in Benue Lays wreath at mass burial site, commends Ortom’s grazing law Tobi Soniyi in Lagos, Olawale Ajimotokan in Abuja and George Okoh in Makurdi Former President Olusegun Obasanjo, yesterday, made a
brief stop in Makurdi, Benue State, where he visited the burial site of the 73 victims of the New Year attacks by herdsmen and also laid a wreath in honour of the dead.
Obasanjo’s visit to Benue came two days before the scheduled arrival of President Muhammadu Buhari in the North Central state which has been a theater of killings by
President to arrive Makurdi on Monday
herdsmen. President Buhari is billed to visit Benue Monday as part of his scheduled visits to troubled states of Benue, Yobe, Zamfara and Rivers. The former president’s visit to the
grave site of the victims of herdsmen attack, who were given mass burial, is seen as symbolic, because Abuja had opposed the conduct of a mass burial for the victims
of the attack. On his arrival at the state capital yesterday, Obasanjo, was received by Governor Samuel Ortom at the Makurdi Cosntinued on page 8
APC, PDP Renew Tirade of Accusations over Dapchi, Chibok Accuse each other of using kidnapped schoolgirls as pawns in game of power
DHQ: Multinational taskforce involved in search for girls
Senator Iroegbu and Paul Obi in Abuja The ruling All Progressives Congress and the main opposition Peoples Democratic Party yesterday exchanged angry criticisms over the 2014 kidnapping of schoolgirls in Chibok by Boko Haram terrorists and the similar incident that took place in Dapchi last month. Each accused the other of using the captured girls as campaign tool, a pawn in the game of politics. PDP accused the ruling party of unwillingness to acknowledge the security lapses that resulted in the recent abductions and playing politics with the fate of the girls. But it drew a swift rebuttal from APC that equally blamed PDP, which was in power in 2014, for dillydallying with politics while the terrorists consolidated their hold on the Chibok schoolgirls. APC had claimed that the President Muhammadu Buhari administration responded rapidly to the Cosntinued on page 8
MARITAL BLISS ... L-R: Bride's father, Kano State Governor Umaru Ganduje; groom's mother, Chief Florence Ajimobi; bride, Fateemah; groom, Idris; wife of the President, Mrs. Aisha Buhari; bride's mother, Hajia Hafsat Ganduje; and groom's father, Oyo State Governor Abiola Ajimobi, at the wedding reception of Ajimobi’s son and Ganduje’s daughter in Ibadan...yesterday