Headlines
Total Outstanding Petrol Subsidy Debt Hits N1.04tn
With total spending on the controversial petrol subsidy now exceeding oil revenue, the Nigerian National Petroleum Company (NNPCL) outstanding debt on what it terms under-recovery hit N1.044 trillion in July.
Data from the National Oil Company (NOC) released late Thursday indicated that in July, the firm also deducted N448.7 billion for the purpose, a record high since the re-emergence of subsidy payment early last year.
The document detailing the NNPCL’s presentation to the Federation Account Allocation Committee (FAAC) last week, also showed that there was no receipt from export crude oil. There was no explanation for the zero revenue from export crude.
Furthermore, a tie-back to June showed that the overall NNPCL crude oil lifting for the sixth month in terms of export and domestic, was 7.27 million barrels , a decrease of 18.68 per cent relative to 8.94 million barrels lifted in May.
In the whole of July, it also showed that just about N400 billion was the gross domestic crude oil and gas receipts.
This implies that the amount spent on petrol subsidy for the month exceeded the total oil sold for the month by roughly N48 billion.
In addition, Nigeria LNG feedstock gas receipt was $93.88 million, inclusive of $9.39 million arrears, with $2.04 million being miscellaneous receipts, the NNPCL document stated.
“The sum of N400,469,663,160.14 is the gross domestic crude oil and gas revenue for the month of July 2022.
“The value shortfall on the importation of Premium Motor Spirit or petrol recovered from July 2022 proceeds is N448,782,119,154.91, while the outstanding balance carried forward is N1.044,514,420,619.13,” the data showed.
Also, like it has done since this year, the NNPCL did not remit a kobo to the federation account. In fact, the column for that purpose has now been deleted from the document. This may not be unconnected with the company’s recent ‘commercialisation’.
For the whole of the month, no project outlined by the NOC was paid for, aside the one for subsidy, according to a THISDAY analysis of the information.
Some of the regular calendarised payments by the NNPCL include those for national domestic gas development, frontier exploration services and renewable energy development.
Others, according to the document signed by one Nasir Usman on behalf of the Chief Financial Officer NNPCL , include refinery rehabilitation, the Nigeria-Morroco pipeline , among others.
A few weeks ago, THISDAY reported that in the first half of 2022, petrol subsidy claims surpassed oil and gas revenue by a whopping N210 billion, with the NNPCL recording N2.39 trillion as gross revenue from oil and gas receipts, while subsidy claims amounted to N2.6 trillion.
The data further revealed that N1.59 trillion was used to cover part of the subsidy costs in the last six months, leaving an outstanding balance of N1.01 trillion.
Nigeria is currently facing an economic crisis with rising debt servicing costs and fuel subsidy payments, which from all indications could exceed the budgeted N4 trillion this year as well as a massive drawdown on its Excess Crude Account (ECA).
Coupled with that, it has for the first time in recent history been unable to take advantage of rising international oil prices because it cannot meet its Organisation of Petroleum Exporting Countries (OPEC) production quota. Crude oil has sold for above $100 for most of this year.
An analysis of the latest material released by the NNPCL last night indicated that in January, February and March 2022, petrol subsidy payments gulped N210.38 billion, N219.78 billion, and N245.77 billion, respectively while in April, Nigeria spent N271 billion and N327.07 billion in May 2022 to cater for the shortfall of the importation of petrol.
For the month of June, the national oil company deducted N319.18 billion from the federation account as payment for petrol subsidy, even as it hit a record N448.7 billion in the latest version of the document.
READ ALSO: THE FUTURE OF WEST AFRICAN AGRICULTURE
To compound the current subsidy crisis, Nigeria does not know its exact daily consumption of petrol and is believed to be subsidising neighbouring countries due to the arbitrage created by the subsidy in Nigeria.
The problem is expected to even worsen in 2023 with a current projection of as much as N6.72 trillion by the country in its 2023-2035 medium-term expenditure framework & fiscal strategy paper (MTEF&FSP).
Earlier in the year, the federal government deferred the planned petrol subsidy removal for 18 months, saying the impact would be too negative on the poor and the less privileged.
President Muhammadu Buhari also recently slammed calls by the World Bank and the International Monetary Fund (IMF) for subsidy removal, arguing that even in the West, governments were paying all kinds of subsidies on behalf of their people.
Nigeria imports all its petrol because it does not refine a drop of the product in the country. All the refineries have been non-functional for years. The country operates a swap oil-for-petrol regime which is largely seen as opaque.
It has blamed its inability to meet its production allocation due to massive oil theft, deteriorating upstream infrastructure, lack of upstream investment as well as outright sabotage of its assets.
Headlines
NUC upgrades universities medical-related programmes
The National Universities Commission (NUC) says it has upgraded some medical-related programmes in the Nigerian universities from Bachelor’s degree to doctoral status.
This is disclosed in a statement signed by the commission’s Acting Director of Public Affairs, Mrs Franca Chukwuonwo, and made available to newsmen in Abuja on Wednesday.
Chukwuonwo said the decision was driven by the need to incorporate more clinical and practical sessions, improve foundational course coverage, enhance clinical skills, and address all specialty areas comprehensively.
She noted that the upgrade aligned with global best practices for training professionals in these fields.
“This quest to upgrade the status of some medical-related programmes from Bachelor’s Degree to Doctor was borne out of the desire to incorporate more clinical/ practical sessions.
“It is to provide sufficient coverage of foundation courses, improve on clinical skills and cover all specialty areas.
“The trend seeks to also align with global best practices applicable in the training of professionals in these medical related programmes.
“Furthermore, the certificates obtained from the Nigerian University System (NUS) can be at par with those obtained in similar programmes from other climes” she said.
She added that it would also ensure the requisite harmonisation, mutuality and global competitiveness of Nigerian graduates in terms of certificates evaluation, employability and further studies in the relevant disciplines.
She listed the programmes upgraded as: Doctor of Pharmacy (Pharm D), Doctor of Physiotherapy (DPT), and Doctor of Optometry.
She added that the duration of the programmes was increased from five to six years to accommodate the additional courses and clinical incorporated into the curriculum.
“The general public and all stakeholders are hereby informed that the Doctor of Medical Laboratory Science (DMLS) programme does not exist in the NUC’s BMAS or CCMAS.
“And thus has not been captured as an upgraded programmes. Consequently, DMLS programme is not approved in any university in the country,” she said.
Headlines
NCDC urges collaborative action on health emergencies
Nigeria Centre for Disease Control and Prevention (NCDC) has reaffirmed the critical role of risk communication and community engagement in addressing public health challenges.
Dr Tochi Okwor, the Head of Disease Prevention and Control at NCDC, made this known during the reopening meeting of the National Risk Communication Technical Working Group (NRCTWG) in Abuja on Wednesday.
Okwor stressed the urgency of proactive measures to safeguard Nigeria against current and emerging health threats.
She acknowledged the foundational work of the first Risk Communication Lead at NCDC, whose leadership facilitated the establishment of the NRCTWG in June 2018.
She said “this multispectral platform has since played a pivotal role in coordinating responses to public health emergencies across ministries, departments, agencies and partners.”
She highlighted the multiple health challenges the country continues to face, including annual outbreaks of Lassa fever, cholera, cerebrospinal meningitis and the growing threat of antimicrobial resistance, which she referred to as “the silent pandemic.”
She also raised concerns about looming threats such as the re-emergence of Ebola, the Marburg virus, and the ongoing response to human metapneumovirus.
“Our preparedness and response efforts hinge on effective risk communication and community engagement.
“This is not just about sharing information but ensuring the right information reaches the right people at the right time, inspiring trust and action,” she said.
She stressed the devastating consequences of misinformation, citing the saltwater bath rumours during the Ebola outbreak and the conflicting narratives during the COVID-19 pandemic.
“These instances highlight the critical need for harmonised, evidence-based communication to manage health emergencies effectively,” she added.
Nma Ogbonna, Head of Health Promotion at the Federal Ministry of Health, commended efforts in risk communication, particularly in public health emergency surveillance at airports.
Ogbonna revealed the ministry’s active involvement, including an information committee focused on risk communication.
However, she acknowledged gaps in formal reporting and expressed the need for better documentation and collaboration with international partners to strengthen Nigeria’s public health response.
Dr Olufemi Ayoola, Director of Health and Social Care at the National Orientation Agency (NOA), expressed gratitude for past collaborations that have nurtured growth.
Ayoola highlighted professional advancements within the team and reaffirmed the commitment of the Agency under new management to strengthen partnerships, including with NCDC, for continued public health progress.
Mrs Maureen Kojo, Chief of Animal Health at the Federal Ministry of Livestock Development (FMLD), announced that the Ministry has notified all 36 states and the FCT to be on alert and take preventive measures to avoid the spread of anthrax.
Kojo said that a surveillance team has been deployed to the states and RCCE activities have begun to educate and raise awareness about the disease.
Mr Yunus Amadou, State Facilitator,
UNICEF, emphasised using the meeting as a platform to reflect on past achievements, identify areas for improvement, and strategize for greater impact in the future.
Amadou acknowledged the hard work, collaboration, and commitment of stakeholders in protecting Nigerians’ health and well-being, urging continued collective efforts to make a difference.
Ms Racheal Abujah, Senior Health Correspondent at the News Agency of Nigeria (NAN), underscored the importance of transparent communication and accurate reporting in public health efforts.
Abujah stated that collaborative efforts, such as those between NCDC, NOA, and international partners, are crucial in building trust and ensuring effective risk communication, particularly during health emergencies.
Additionally, she highlighted the role of the media in disseminating clear, reliable information to the public, reducing misinformation, and driving community engagement to improve health outcomes in Nigeria.
Headlines
Tanker explosion kills driver, injures 1 in Ibadan
A tanker loaded with Premium Motor Spirit (PMS) has exploded, killing its driver and injuring one other person in Ibadan.
Mr Yemi Akinyinka, General Manager (GM), Oyo State Fire Service Agency, confirmed the incident in a statement made available to newsmen on Wednesday in Ibadan.
He explained that the tanker lost control, rammed into two other trucks, and somersaulted into a nearby pit before bursting into fire.
The GM said the incident resulted in the death of the tanker driver and injured the motor boy.
“The incident happened around Fijabi House, Agbowo, Ojoo/Iwo Road Expressway.
“The agency received a distress call about the fire incident at exactly 2.45 a.m. through a telephone call.
“The service swiftly deployed personnel to the scene and curtailed the fire from spreading to the nearby residential area.
“On arrival, we met three trucks of 20-metre distance from one another involved in the fire incident,
“The driver was burnt to death while the motor boy was rescued alive and taken to the University College Hospital (UCH), Ibadan, for treatment,” he said.
Akinyinka stressed that the tanker was utterly destroyed by the fire while the other two trucks were rescued by the agency’s personnel.
“The agency’s Director of Operations, Mr Ismail Adeleke with team members, the police, and some other security agencies were at the scene to prevent a breakdown of law and order,” he said.
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