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Nigeria loses ₦2 billion daily to petrol smuggling

Nigeria loses ₦2 billion daily to petrol smuggling

September 9, 2019 2:38 am

The Nigerian National Petroleum Corporation (NNPC) has confirmed that the nation’s economy loses ₦2 billion daily to fuel smuggling.

This comes as the Federal Government said its border closure decision had led to a reduction in the demand for the product, even as prices for rice and frozen foods keep rising due to restricted supplies.

Indeed, the national oil company submitted that it had witnessed a significant drop in Premium Motor Spirit (popularly called petrol) evacuation from the depots since August 22.

There had been concerns about the nation’s daily fuel demand, especially when the amount used to offset subsidy …

How Nigeria loses over ₦1tr to defective building code

How Nigeria loses over ₦1tr to defective building code

September 3, 2019 1:57 am

Nigeria might be losing trillions of naira to the non-review and non-domestication of its national building code. The loss includes the cost of rescue operations and deployment of emergency equipment during building collapse, and the cost of building materials, and treatment of injuries.

Besides, over 309 deaths, preventable by a functional building code, have been reported following structural collapse in the last 10 years.

What is currently regarded as a national building code was bequeathed to the country by colonialists and is no longer applicable for modern-day construction.

A building code, also known as building control or building regulation, is …

Nigeria loses 22mb of crude oil in 6 months – Gov. Obaseki

Nigeria loses 22mb of crude oil in 6 months – Gov. Obaseki

August 30, 2019 8:36 am

Edo Governor,  Godwin Obaseki said the nation lost about 22 million barrels of its crude oil production to oil theft between January and June 2019.

Obaseki disclosed this in a statement issued by Mr Ndu Ughamadu, the Spokesman for the Nigerian National Petroleum corporation( NNPC) in Abuja on Thursday.

He said that if nothing was done to curtail the ugly trend, the figure could double by the end of the year.

The governor, also the Chairman of the Ad-hoc Committee of the National Economic Council on Crude Oil Theft spoke at a stakeholders meeting held at the NNPC towers .…

Nigeria loses ₦1,085 trillion daily to fuel smuggling

Nigeria loses ₦1,085 trillion daily to fuel smuggling

August 18, 2019 3:08 am

Daily, an estimated seven million litres of Premium Motor Spirit (PMS), better known as petrol, valued at N1, 085t is smuggled from Nigeria to neighbouring West African countries.

With daily consumption of about 52 million litres of petrol per day according to the Department of Petroleum Resources (DPR), The Guardian understands that only about 45 million litres are eventually circulated within the country while approximately seven million litres are smuggled to countries where the product is sold for higher turnover.

Neighbouring Chad sells the cheapest petrol at the equivalent of N322, and industry sources told The Guardian that using N300 …

Illicit financial flows

Illicit financial flows: Nigeria loses $17bn yearly -TI

May 15, 2019 11:04 pm
Transparency International (TI) on Wednesday disclosed that Nigeria loses not less than $17 billion annually through illicit financial flows.
The Executive Director of TI and Civil Society Legislative Advocacy Centre (CISLAC), Auwal Musa Rafsanjani, stated this in Abuja during a meeting of his organisation with its West Africa chapters.
While insisting that the political and business elite have deprived Nigerians of their entitlements through corruption in procurement, Rafsanjani said: “Our countries experience enormous challenges with public procurement, political integrity, illicit financial outflows, migration and many others. In Nigeria alone, $17 billion is lost annually to illicit financial outflows.
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2Baba’s wife, Annie Idibia, loses dad to cancer

May 8, 2019 9:32 am

Annie Idibia, wife of Nigerian music legend 2baba on Wednesday announced the death of her father, Macaulay as a result of an unsuccessful battle with cancer.

The 34 year-old Ibadan born actress, model and mother of two from Eket, Akwa Ibom state took to her Instagram handle @annieidibia1 to wish her father farewell.

“RIP Daddy, You fought Hard #cancersucks #thepainsIsGone,’’ she wrote.

Meanwhile, some Nigerian celebrities took to the comment section of her Instagram to express their condolences.

Talented singer @officialwaje wrote, “RIP it is well love.

Singer, producer and actor, Olubankole Wellington @bankywellington said, “ Condolence dear.’’ @realmercyaigbe wrote, …

Nigeria loses $29.3b annually to erratic power supply

April 29, 2019 3:17 am

The Electricity Generation Companies (GenCos) at the weekend said the country loses $29.3billion yearly to low   supply resulting from load shedding and inadequate facilities.

The Executive Secretary, Association of Power Generation Companies (APGC), Joy Ogaji, in an emailed response to questions,  urged the Transmission Company of Nigeria (TCN) to upgrade its network to absorb the 8,000megawatts (Mw) capacity of the GenCos.

She said: “In urban areas where electricity access has been provided, the availability of electricity supply is drastically low, due either to load shedding or inadequate power supply facilities.  It is estimated that the Nigerian economy is losing $29.3 …

Architect loses ₦3.5m contract for supporting ‘Buhari’

April 16, 2019 6:53 pm

A young Architect in Lagos, known as Architect Bolu has just lost a ₦3.5 million architectural project due to his fanatical support to Jubril Al-Sudani, Late President Muhammadu Buhari’s impostor from Sudan.

The young expert made this known on Tuesday via his Facebook account:

The APC administration led by Jubril Al-Sudani, being paraded as Buhari has been very notorious to the Nigerian masses as a result of the impersonation saga, untold hardship, and violation of the rule of law, the government is charasterised with. Because of that, many Nigerians at every given opportunity vent their anger and dismay on the …

Fayose loses polling unit, ward to APC

March 9, 2019 2:09 pm

Former Governor Ayo Fayose of Ekiti state on Saturday failed to deliver his polling unit and ward in his hometown Afao Ekiti in Irepodun Ifelodun local government area of the state to the Peoples Democratic Party.

The All Progressives Congress (APC) swept the ward in the House of Assembly election.

At Fayose’s unit at St David’s Primary School , the APC candidate in Irepodun/Ifelodun constituency (2), Alhaji Hakeem Jamiu, polled 168 votes to defeat the Peoples Democratic Party’s candidate, Sunday Omosilade, who got 26 votes.

The News Agency of Nigeria, (NAN) reports that Omosilade, who was Fayose’s personal assistant, had …

BREAKING: Oyo: Ajimobi loses polling unit to PDP

March 9, 2019 11:19 am

Governor Abiola Ajimobi of Oyo State has lost his polling unit to the Peoples Democratic Party (PDP) in Saturday’s gubernatorial election.

Mr Ajimobi, who lost the National Assembly election to return to the Senate two weeks ago, cast his vote at about 1.10 pm at Oluyole Community Grammar School, Oluyole, Ibadan.

APC polled 112 while PDP polled 149 in the governorship election.

Source…

BREAKING: Agbaje’s running mate loses booth to Sanwo-Olu

March 9, 2019 8:49 am

The Deputy Governorship Candidate of the People’s Democratic Party (PDP), Oluyemisi Haleemat Busari, has lost her polling unit to his All Progressives Congress (APC) candidate, Babajide Sanwo-Olu.

Busari polled 15 votes against Sanwo-Olu’s 40 at the 021 polling unit of Ward A, Unit 021 in Adekunle Anglican Primary School, Makoko, Lagos a few metres from her residence at Denny Estate.

In the House of Assembly, APC polled 41 against PDP’S 13.

She and her husband voted at the unit several hours earlier, some minutes after 11.am.

Source…

Jubril loses Villa to Atiku, Osinbajo, also loses to PDP

February 24, 2019 1:27 am

Jubril Al-Sudani, (Muhmadu Buhari’s Impostor) of the All Progressives Congress (APC) has lost to his main opponent, Alhaji Abubakar Atiku of the Peoples Democratic Party (PDP), in the overall results of the polling units inside the presidential villa. Jubril got a total of 1,013 votes against Atiku’s 1,030 votes.

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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