Business
Group Raises Alarm Over Alleged N3 Trillion Fuel Importation Fraud by NNPCL, Business Partners

***calls on CBN to investigate payment claims
The Coalition for Economic Liberation and Transformation (CELT) has raised alarm over alleged N3 Trillion fuel importation fraud traced to the Nigerian National Petroleum Company Limited’s (NNPCL) and some of its business partners in the last 42 days.
This revelation came to light during a press conference held in Abuja on November 15, 2024.
According to CELT, Nigeria imported 1.5 million metric tonnes of premium motor spirit, 414,018 metric tonnes of diesel, and 13,500 metric tonnes of aviation fuel between October 1 and November 11.
Henry Owolabi, the Executive Director of the coalition criticized NNPCL’s Group Chief Executive Officer, Mele Kolo Kyari, for prioritizing fuel importation over domestic refining, despite the availability of local refineries.
The Dangote Refinery, with a capacity to process 650,000 barrels of oil daily, is one such refinery that could significantly reduce Nigeria’s reliance on foreign fuel.
CELT questioned Kyari’s decision-making process, citing the detrimental impact on Nigeria’s economy and currency.
The coalition accused Kyari of sabotaging domestic refineries and undermining the Central Bank of Nigeria’s policies aimed at strengthening the naira.
CELT demanded Kyari’s immediate sack and urged the Central Bank to halt further payments for fuel importation.
Furthermore, CELT called on regulatory agencies to verify the quality of imported fuel and investigate financial claims.
The coalition emphasized the need to prioritize domestic refining, highlighting benefits such as significant cost savings, energy security, economic growth, and environmental sustainability.
Owolabi added: “Kyari and his fake fuel-importing associates have successfully rubbished the Central Bank of Nigeria (CBN)’s policies targeted at strengthening the Naira. They mopped up the limited dollars that would have gone into procuring manufacturing-related imports.
“The irresponsible importation, which is compromising the naira, borders on criminal when one recalls that President Bola Tinubu, personally, intervened to broker the naira sale of crude oil to Indigenous refineries to reduce the pressure on Nigeria’s currency and make refined products more affordable. Kyari and his lackeys insult our president by persisting in this criminal trade.
“Kyari’s leadership role in the fuel importation racket perhaps explains why he has deliberately sabotaged the nation’s investments in the three major government-owned refineries in the last two years. Why would a man who has not allowed our refineries to work be allowed to continue to lead the NNPCL?
“Additionally, this importation has severe economic consequences. The money used for importing fuel could be effectively utilised in areas, like healthcare, education and infrastructure.
“The government and other appropriate bodies must promptly tackle these concerns. They must emphasise the importance of boosting manufacturing and supporting our refineries to function at their potential.
“Consequently, the Coalition for Economic Liberation and Transformation urges the CBN to stop further payments to Kyari’s cronies in the name of fuel importation. Those who persist in importing what is readily available locally should bear the brunt of sourcing the foreign exchange to pay for their indulgence.
“Furthermore, our Coalition demands that Kyari be sacked without hesitation to restore the industry’s transparency and accountability and to prevent the NNPCL CEO and his associate from spreading contagion to other sectors of the economy.
“Finally, we demand that the necessary regulatory and anti-graft agencies step in to arrest the anomaly around fuel importation.“
Business
Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down

By: Fabian Apechihin
The Dangote Petroleum Refinery has ramped up fuel exports to international markets amid widespread refinery shutdowns in the Middle East, industry sources confirmed.
A senior official at the $20bn Lagos-based plant told The PUNCH that the facility exported significant volumes of petrol (PMS), diesel (AGO), and aviation fuel (Jet A1) to foreign buyers in August, following earlier shipments in June and July.
The surge comes as Saudi Aramco and other regional producers face heavy maintenance schedules, tightening fuel supply. Aramco has already shut down two plants and plans further closures, including its 460,000 b/d Satorp refinery in Jubail for a 60-day turnaround in November–December. Kuwait and India are also scaling back capacity for maintenance and seasonal demand.
According to Argus Media, these shutdowns are pushing Gulf nations to import record volumes of gasoline, with Saudi Arabia and the UAE sharply increasing purchases from Europe and other markets in recent months.
While some reports pointed to operational constraints at Dangote’s 650,000 b/d facility, the company dismissed such claims, insisting production is on track to reach 700,000 b/d by December. Earlier this year, Aliko Dangote announced the refinery had sold two cargoes of jet fuel to Saudi Aramco and recently achieved exports of about 1 million tonnes of petrol between June and July.
“With Gulf refiners offline, Nigeria has now emerged as a net exporter of refined products,” Dangote said.
Analysts suggest the extended refinery outages in the Middle East will further strengthen demand for Dangote’s output, positioning the Nigerian plant as a key supplier in regional fuel markets.
Would you like me to tighten this further into a 5–6 paragraph wire-style news brief, or keep it as a detailed feature-style report with more context on Gulf refinery shutdowns?
Business
US Oil Exports to Nigeria, Others Fall to 3.3m bpd as Local Output Rises

By: Fabian Apechihin
The United States’ crude oil exports to Nigeria and other African countries fell for the fifth consecutive month in July 2025, averaging 3.3 million barrels per day (bpd), the lowest level since March 2022.
The Organisation of Petroleum Exporting Countries (OPEC) disclosed this in its August 2025 Monthly Oil Market Report (MOMR), attributing the decline to weaker flows to Europe and Africa, particularly Nigeria, but without giving further details.
Industry analysts link the slowdown to the ramp-up of local refining capacity, especially the 650,000 bpd Dangote Refinery, which has reduced Nigeria’s reliance on imported crude, including from the US. Vanguard checks also show that crude importation has slowed further in recent months due to improved domestic production.
According to OPEC data, Nigeria’s crude oil output—excluding condensates—rose by 11 per cent year-on-year to 1.559 million bpd in July 2025, up from 1.386 million bpd in the same period of 2024. This marks the country’s highest monthly production level so far this year.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) corroborated the figures, stating that overall output, including condensates, exceeded 1.8 million bpd in July.
Gbenga Komolafe, Chief Executive of the NUPRC, said the milestone was achieved through the agency’s “Project 1 MMBOPD Incremental” initiative, supported by a multi-stakeholder collaborative framework.
“We are glad to report that we crossed the 1.8 million bpd mark on peak production last month, with average production hovering at 1.78 million bpd,” Komolafe stated.
He added that the Commission is working to sustain production growth by optimising the Maximum Efficient Rate (MER) framework, improving produced water management, and aligning operational shutdowns and maintenance schedules to minimise disruptions.
“With these measures and continued collaboration, the presidential mandate on production increase is well within reach,” he said.
Do you want me to make this rewrite more concise for a newspaper front-page brief or keep it detailed like a full energy market report?
Business
NDYPC Hails Otuaro’s Reforms in Presidential Amnesty Programme

• Lauds transparency, fairness in beneficiary selection and grassroots empowerment
• Says reforms align with Tinubu’s Renewed Hope Agenda, restore trust in Niger Delta
The Niger Delta Youths for Positive Change (NDYPC) has commended the Administrator of the Presidential Amnesty Programme (PAP), Dr. Dennis Otuaro, for what it described as bold, people-focused reforms that are restoring trust and delivering tangible benefits to the Niger Delta.
In a statement signed and issued by Comrade Elliott Yibakeni, after the conclusion of leadership training sessions with ex-agitator leaders in Abuja, the group said the PAP, once in urgent need of renewal, is now undergoing a transformation that reflects transparency, fairness, and accountability.
“At a time when public trust in institutions was waning, Dr. Otuaro has emerged as a symbol of credibility and transformation,” the statement read. “His visionary leadership is restoring integrity, empowering communities, and driving a sustainable development agenda that resonates with the aspirations of the Niger Delta.”
According to NDYPC, under Otuaro’s leadership, beneficiary selection has become fair and merit-based, ending years of favoritism and political interference. The group added that access to education, skills training, and empowerment opportunities, both locally and abroad, is now guided by equity and open competition.
The group highlighted several internal reforms, including improved staff welfare, strengthened professional capacity, and strict adherence to best practices in public procurement. These, it said, have made the PAP more efficient, responsive, and transparent.
NDYPC also praised Otuaro’s inclusive governance style, noting his sustained engagement with traditional rulers, women leaders, civil society organizations, and local communities. This approach, the group said, has strengthened peace-building efforts and deepened trust between the PAP and the people it serves.
In line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the PAP has maintained consistent payment of stipends to ex-agitators and extended direct support to vulnerable populations. NDYPC also applauded new healthcare interventions for ex-agitators facing health challenges.
The statement further commended the programme’s investments in scholarships, vocational training, and economic empowerment initiatives aimed at preparing Niger Delta youths for leadership, innovation, and sustainable livelihoods.
“Every decision reflects a deep commitment to public trust, responsible stewardship, and long-term development,” NDYPC stated. “Under Dr. Otuaro’s watch, the Niger Delta is rising stronger, united, and filled with renewed hope.”
-
Uncategorized5 years ago
FG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines10 years ago
Breaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News11 years ago
Nigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
News9 years ago
How 21-year-old Girl fled community over accusation of lesbianism
-
News10 years ago
Yobe Gov Moves Against Deputy
-
Opinion6 years ago
7 signs she has friend zoned you
-
Technology4 years ago
Online job placement company headhunts women
-
Headlines9 years ago
Borno Dep Gov Abducts Another Church Leader