The approval of $8.5 million by President Muhammadu Buhari to facilitate the immediate evacuation of at least 5,000 Nigerians fleeing from the Russia-Ukraine war to Poland, Romania, Hungary and Slovakia dominates the headlines of Nigerian newspapers on Thursday.
The Guardian reports that President Muhammadu Buhari has approved the sum of $8.5 million to facilitate the immediate evacuation of at least 5,000 Nigerians fleeing from the Russia-Ukraine war to Poland, Romania, Hungary and Slovakia.
The Minister of State for Foreign Affairs of Nigeria, Zubairu Dada, who briefed newsmen alongside the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouk, said the approval came following a joint memo presented by both ministries at the Federal Executive Council (FEC) meeting presided over by Vice President Yemi Osinbajo.
Dada disclosed that Air Peace and Max Air airlines have been contracted to provide three aircraft and run as many shifts as possible to facilitate the evacuation of the fleeing nationals.
Dada named those to be evacuated from the crisis area to include 940 from Romania, 150 from Slovakia and 350 from Poland who have registered for evacuation.
Speaking on the amount approved, Dada said: “The ministry of humanitarian affairs wrote a memo to the president seeking funding to enable us to conduct this exercise. The memo was to the tune of $8.5 million, which Mr. President has graciously approved. That provision entails an arrangement to evacuate no less than 5,000 Nigerians.
The newspaper says that the Nigerian Government has started the extradition process of top policeman Abba Kyari accused by the United States of colluding with known fraudster Abbas Olorunwa, also known as Hushpuppi, to carry out fraudulent activities.
Kyari is a well-decorated Deputy Commissioner in the Nigeria Police Force.
He is also facing separate drug charges in Nigeria after being accused by the National Drug Law Enforcement Agency (NDLEA) of being a member of an international drug cartel.
The Nation reported that Nigeria’s attorney-general Abubakar Malami filed before the Chief Judge of the Federal High Court in Abuja for Kyari’s extradition.
Malami said the extradition request from the United States authorities was just and not meant to persecute Kyari.
“If surrendered, will not be prejudiced at his trial and will not be punished, detained or restricted in his personal liberty, by reason of his race, nationality or political opinions,” Malami said.
Kyari is wanted in the US for Conspiracy to commit wire fraud, in violation of Title 18, United States Code, Section 1349, carrying a maximum term of imprisonment of 20 years; conspiracy to commit money laundering, in violation of Title 18, United States Code Section 1956(h), carrying a maximum term of imprisonment of 20 years and aggravated identity theft, and aiding and abetting that offence, in violation of Title 18, United States Code, Sections 1028A(a)(1) and 2(a), carrying a maximum term of imprisonment of two years.
United States authorities on July 29, 2021, said Kyari, allegedly worked with Hushpuppi to punish the latter’s partner with whom he defrauded a Qatari to the tune of $1.1 million.
The allegation came after Hushpuppi reportedly pleaded guilty to charges of fraud in an American court last July.
But Kyari had denied any wrongdoing, saying Hushpuppi’s partner was arrested after his office was called about a potential case of threat to life.
The Punch reports that the Federal Government on Wednesday announced that the country’s total domestic gas demand was currently 4.482 billion standard cubic feet per day.
It announced this in a statement issued in Abuja by the Nigerian Midstream and Downstream Petroleum Regulatory Authority on the new domestic gas demand requirement for Nigeria.
The Chief Executive, NMDPRA, Farouk Ahmed, said the requirements were jointly determined by all relevant stakeholders.
He said the requirement, which was transmitted to the Nigerian Upstream Petroleum Regulatory Commission, showed that the power sector was pegged at 2.324 billion standard cubic feet per day; while gas-based industries was 1.125 billion standard cubic feet per day.
Others include the commercial sector, which was set at 1.034 billion standard cubic feet per day, while the total domestic gas demand requirement was 4.482 billion standard cubic feet per day.
The newspaper says that the Nigerian National Petroleum Company Limited on Wednesday explained that one of the key reasons modular refineries in Nigeria were not producing Premium Motor Spirit, popularly called petrol, was because of the regulated pump price of PMS by government.
A modular refinery is a simplified refinery requiring significantly less capital investment than traditional full-scale refineries. They are crude oil processing facilities with capacities of up to 30,000 barrels per day.
Nigeria has a number of modular refineries in Edo, Delta, Imo and other states, while plans are on to increase the number through private sector investments.
OPEC raises Nigeria’s oil production quota as Brent hits $111/barrel. This came as data released on Wednesday by the Organisation of Petroleum Exporting Countries indicated that OPEC had raised Nigeria’s oil production quota from the 1.718 million barrels per day target in March to 1.735 million bpd in April 2022.
Also, it was observed that the cost of Brent, the crude against which Nigeria’s oil is priced, appreciated on Wednesday, rising to $111.03/barrel as at 6.54pm Nigerian time, amidst the increase in OPEC oil production quota for Nigeria.
The Sun reports that the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC), Mr Mele Kyari, has assured Nigerians that a private sector-oriented company (NNPC Limited), with service and profit mindset, will be unveiled in July this year.
Kyari made the disclosure at the ongoing Nigerian International Energy Summit (NIES) in Abuja, stressing that NNPC was slowly and steadily transiting into a globally competitive entity and most capitalised company in Africa.
He added that the new NNPC was warming up to hit the capital market for an Initial Public Offer (IPO) in three years’ time, to enable Nigerians own a piece of the company.
Kyari said the NNPC aims to be among five top gas producers in the world, as all requirements needed for its new format will be met to ensure its vision and mission are not thwarted.
He said: “The PIA states that the NNPC cannot operate at a loss and should guarantee energy security. So, NNPC is partnering all and sundry. We’ve worked hard to get to this point. People lost faith in the fiscal system but we must keep working hard to deliver on our mandate. We’re ready for IPO in three years so third parties can come in.
The Leadership newspaper reports that the International Monetary Fund (IMF) has said that Nigeria’s fiscal position is not very strong at the moment despite the volatility in the local and international markets, a reason it said the federal government should consolidate the fiscal position to avoid damaging risks.
“We need to be on record saying this: that you need to consolidate on your fiscal position. And the consolidation needs to be through mobilizing more tax revenues because spending is very, very low, particularly on social and infrastructure. You need to spend more in our view. So, for that, mobilising tax revenue is of the excess,” IMF country representative to Nigeria Ari Aisen said yesterday at a hybrid event on the opportunities and imperatives for business.
The event was organized by the American Business Council in partnership with KPMG Nigeria. The event focused on the opportunities in 2022, plans by the Federal Government for the private sector, and reforms that will drive developments via investments beyond 2022. The IMF said Nigeria needs more financing to be able to actually meet those expending targets that do not have access to finance.
GIK/APA