NNPC Fixes Base Oil Price for 2022 at $57, $61 for 2023 Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
The Nigerian National Petroleum Corporation (NNPC) yesterday projected a medium term base crude oil price scenario of $57 to a barrel for 2022; $61 for 2023 and $62 for 2024.
The Group Managing Director of the corporation, Mallam Mele Kyari, made the disclosure in his presentation to the House of Representatives, according to a statement released by the corporation’s spokesman, Mr. Garba Muhammad. Kyari explained that the assumptions were arrived at
after a careful appraisal of the three-year historical dated Brent oil price average of $59.07 per barrel premised on Platts spot prices. “Price growth is to be moderated by the lingering concerns over COVID-19, increased energy efficiency, switching due to increased utilisation of gas
and alternatives for electricity generation. These are reflected in the medium term revenue framework,’’ Kyari informed. On the perennial issue of smuggling of petroleum products, Kyari implored the National Assembly to come to the aid of the corporation in battling the menace.
He noted that the NNPC, based on the directive of the president had mobilised some customs officers, the Economic and Financial Crimes Commission (EFCC), the police as well as the Nigeria Security and Civil Defence Corps (NSCDC) to find workable solutions to the menace.
Also speaking on the propriety of establishing NNPC retail stations in neighbouring countries to curb the challenge of illegal haulage of petroleum products across the border, Kyari said though the NNPC once considered the option, it had to Continued on page 10
Uzodinma Breaks from Southern Governors on Anti-open Grazing... Page 8 Thursday 26 August, 2021 Vol 26. No 9635. Price: N250
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Presidency to Ortom: You’re Ethnic Jingoist Fanning Embers of Disunity Says he's a political failure that has changed party five times
Deji Elumoye in Abuja
The presidency has reacted to some recent utterances by Governor Samuel Ortom of
Benue State, where he accused President Muhammadu Buhari of making grazing routes a condition for peace. The presidency described the
governor as an ethnic jingoist out to cause disunity among Nigerians. It also accused Ortom of being an ethnic irredentist, who had failed
politically, having moved from one party to another for a record five times. In a release issued Wednesday by the Senior Special
Assistant to the President on Media and Publicity, Garba Shehu, the presidency said it was unfortunate that a fair-weather governor, who
played up ethnicity and sectarianism to achieve his goals, governed Benue State. Continued on page 10
Buhari: NDA Attack Will Accelerate Total Uprooting of Evil in Polity
Says invasion won't deter military's resolve to end criminality Commiserates with victims’ families DHQ orders probe, denies staff slept on duty FG needs political will to deal with terrorists, says Okowa
Deji Elumoye, Kingsley Nwezeh, Michael Olugbode, Adedayo Akinwale, Udora Orizu in Abuja, Ugo Aliogo in Lagos and Benjamin Nworie in Abakaliki President Muhammadu Buhari, yesterday, said Tuesday's attack on the Nigerian Defence Academy (NDA), Kaduna, had provided grounds for more urgent measures to rid the country of “vermin” and emancipate the polity. Buhari stated this in a release by his Special Adviser on Media and Publicity, Mr. Femi Adesina. The president declared Continued on page 10
Why Peace Brokered by PDP A DIAMOND ANNIVERSARY IN STYLE... Elders, Governors L-R: Senior Pastor, Latter Rain Assembly, Pastor Tunde Bakare; Lagos State Governor, Mr. Babajide Sanwo-Olu; the celebrant and former Emir of Kano, Khalifa Muhammad Sanusi II; Ekiti State Governor, Dr. Kayode Fayemi; Kaduna State Governor, Mallam Nasir el-Rufai and Ondo State Governor, Rotimi Akeredolu, SAN, during the special book presentation titled: “For Failed... Page 6 The Good of The Nation” and launch of SDG Challenge Fund in commemoration of Sanusi’s 60th birthday, at the Eko Hotels and Suites, Victoria Island, Lagos...on Tuesday