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Tell Us Who’s Stealing Nigeria’s Crude with Vessels, Elumelu Challenges FG

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The Founder and Chairman Heirs Energies, an upstream oil and gas company, Mr. Tony Elumelu, has said that the government and security agents in Nigeria should be able to disclose to Nigerians those who steal the country’s crude oil.

Elumelu spoke in an interview published by the Financial Times (FT) before the weekend.

Elumelu said oil theft contributed to the divestment of international oil companies in Nigeria.

“Who is behind the theft, I ask. It’s a question that has confounded many Nigerians,” he said.

“This is oil theft, we’re not talking about stealing a bottle of Coke you can put in your pocket.

“The government should know, they should tell us. Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”

In 2010, Elumelu formed Heirs Holdings, an investment company.

In 2021, the business tycoon decided to buy a 45 percent stake in oil mining lease (OML) 17.

Speaking to FT on buying an oil asset in an age of energy transition, Elumelu said the company wanted to become a Fortune 500 company and “we estimated what we needed”.

“It’s not naira, it’s huge dollars. Energy security is crucial for a country that doesn’t produce enough electricity for its roughly 200mn citizens,” he said.

Elumelu said Heirs Holdings had been looking to purchase an oilfield since 2017, adding that $2.5 billion was raised for it.

However, he said former President Muhmmadu Buhari and his chief of staff, Abba Kyari, “blocked the deal”.

Elumelu said he was told Nigeria could not allow something of such strategic importance to fall into the hands of a private operator.

This, the businessman said, defied logic, since he would have been purchasing it from a foreign company.

Elumelu said he soon discovered first-hand why international oil companies (IOCs) were partly divesting from onshore assets –after criminal gangs began stealing crude from his pipelines.

In 2022, when things got to a point where his company had to shut down production, Elumelu vented his frustration on social media, tweeting: “How can we be losing over 95% of oil production to thieves?”

On July 2, the Nigerian National Petroleum Company (NNPC) Limited declared a state of emergency on crude oil production.

Making the announcement, Mele Kyari, group chief executive officer (GCEO) of NNPC, said war has been declared on the challenges affecting Nigeria’s crude oil production.

Kyari said the national oil firm has the right tools, “knows what to fight” and what it needs “to do at the level of assets”.

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Endure a Little Bit More, FG Tells Nigerians Amid Hardship

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The Federal government, on Thursday, said it appreciates the endurance of Nigerians on side effects of economic reforms, which it says have started yielding results.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during an interactive session with the Senate Committee on Finance.

According to him, teething problems from the reforms are over for Nigerians as positive indicators for better days are already emerging.

“The two critical reforms on market-based price of Premium Motor Spirit (PMS) and foreign exchange, are now at the stage of results delivery and by extension, viability of the Nation’s economy through restoration of fiscal viability,” he stated.

“These two pillars of the economic reforms that have taken positive shape now portends additional revenue for government, recovery of the finances of NNPCL and strong  basis for growing the economy, in terms of attracting investment and creating of jobs.

“I think we need to commend Nigerians for staying the cause to  this stage of getting  benefits.”

On his part, the Chairman of the Committee, Senator Sani Musa, said the session was a fact finding one on workability or otherwise of the various reforms.

“Today we gather to deliberate on the pressing matters related to the sales of crude oil to domestic refineries in Nigeria, in Naira and its implication on the approved medium-term expenditure framework and fiscal strategy paper for 2024-2026 and what we should expect for 2025-2027.

“Additionally, we will examine shortfalls in NMPCL revenue remittances, focusing on key areas such as foreign and domestic excess crude accounts, the signature bonus accounts, NMPCL cash call account and any outstanding or remitted revenue linked to under-recoveries.

“This meeting underscores our commitment to transparency, accountability and the responsible management of our national resources.

“I am confident that with the collaboration of the Ministry of Finance under the able leadership of the coordinating Minister of the Economy, the Office of the Accountant General of the Federation, the Central Bank of Nigeria and Revenue Mobilization and Physical Commission and other critical stakeholders present here, we will identify solutions and ensure that due process are upheld for the benefit of our economy and the Nigerian people.”

Aside the Finance Minister, the Group Executive Officer (GCEO) of Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, the Director General of Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, representatives of Governor of the Central Bank also attended the session which was later joined by the Senate President, Godswill Akpabio while in closed door.

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Equatorial Guinea’s Randy Official Denies Sex Tapes, Claims They’re AI Generated

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Baltasar Ebang Engonga, a top government official in Equatorial Guinea, has finally spoken regarding the sex scandal involving hundreds of private recordings with high-profile individuals in the country.

The country’s Director General, National Financial Investigation Agency in Equatorial Guinea, Baltasar Engonga, was arrested for allegedly recording over 400 sex tapes of the wives of notable people in the country.

The scandal emerged in the course of a fraud investigation against the 54-year-old Economist, which resulted in the search of his house and office on impromptu notice by ANIF officials who came across several CDs that later revealed his sexcapades with different married women.

The leaked recordings said to have been consensually filmed, have sparked widespread public outrage and intense scrutiny of the government’s top anti-corruption official.

However, responding to the allegations, Engonga via the microblogging platform, X on Tuesday, denied the authenticity of the videos, attributing the scandal to what he described as the work of “enemies” intent on tarnishing his reputation.

The 54-year-old official also refuted reports connecting one of the supposed victims to a recent suicide, labeling them as untrue.

The scandal has shaken Equatorial Guinea’s political landscape and raised questions about privacy and misconduct among top officials.

Engonga, who was taken into custody following the revelation, continues to deny any involvement as authorities proceed with their investigation.

I want to tell the People of Equatorial Guinea that those videos are AI edited. My enemies are trying so hard to bring me down

“Ignore the rumours about someone’s death linked to the leaked videos. They’re unfounded,” he said.

Engonga said he has only one wife and six children, adding that she is his hero.

I only have one wife and my 6 children. They keep me going. We are a happy family. They are my everything.

If anything ever happens, you are strong enough to guide our children through anything. I trust you completely. You are not just my wife, but my hero,” he added.

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More Millionaires Emerge in Glo Jolly Win Promo 

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The latest winners of the thrilling monthly Glo Jolly Win promotion, have received cheques of N1 million each from Globacom and its partners. This is in addition to the data and airtime bonuses that other Glo users who take part in the promotion receive every day.

At the monthly presentation ceremony in Lagos, five winners were credited with their winnings immediately after the symbolic presentation of their cheques.

Olieh Somtochukwu, a realtor based in Anambra State, became the first person to win N1 million in the promotion in September.

The promotion is being done by Globacom in partnership with Tetragrammaton, the value-added service provider for these services, and Nitroswitch, an aggregator firm licensed by the NCC.

If not that she doubted the veracity of the promo, Mrs. Adebayo Idowu, one of the winners, would have received her check during the first presentation in September. She was reluctant to accept that she had won a million naira, even after multiple conversations, including video calls.

After later becoming convinced, Mrs. Adebayo, a recently retired school teacher, was there with the new batch of winners to receive her prize at last.

Abiodun Oluwasanmi Temitayo, a mechanical engineer; Ashimiu Aminat Idowu, a teacher; Abdul Mumuni Oseni, a corporate driver; and Sanni Ganiu Bayo, a printing and publishing agent from Lagos, are among the other winners.

Speaking about the rewarding promo, Mojeed Aluko of Globacom’s Value Added Services department, said that “the Glo Jolly Win is a lottery service in which subscribers can answer trivia questions or spin a wheel to win loads of airtime, data and cash prizes for as low as N100/day, with no need for downloads or any storage usage on their phones. Subscribers can select their preferred services from the options of Jolly Trivia, Wheel, Win & Life to join in the fun and excitement of the lottery with the potential to become millionaires.”

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