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‘Why fuel scarcity, long queues persist in Nigeria’

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Lack of adequate investment in the downstream sector has been fingered as the cause of the perennial fuel scarcity and its attendant long queues in filling stations across the country.

The Chief Executive Officer, CEO of Pinnacle Oil and Gas Limited, Peter Mbah stated this, weekend, while speaking to State House correspondents shortly after the company paid a thank-you visit to President Muhammadu Buhari at the Presidential Villa, Abuja.

Chief Mbah, who is the Peoples Democratic Party, PDP, governorship candidate in Enugu State in the forthcoming election, said in order to bridge the gap, Pinnacle Oil and Gas has invested about a billion dollars to address the stagnation of investment in the downstream sector.

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Asked whether the country will ever get over the intermittent scarcity it witnesses every time, the Industrialist said that with the intervention of his company and investments from other Nigerians in the downstream sector, the problem will be a thing of the past.

He said, “There has been a deficit in the set of investments Pinnacle has done in the last decades. But what we’re doing right now, is to address that stagnation of investment in the downstream oil and gas industry.

“This is an investment size of about a billion dollars. So we are expecting to see more of such investments because what the Pinnacle has done is create some efficiency in the supply and distribution value chain of the downstream sector.

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“So we are indeed expecting that more investment in the downstream sub-sector would completely eliminate the sort of scarcity we are witnessing today.”

Asked what he came to do at the nation’s seat of power, Chief Mbah said he alongside his team came to show appreciation to Mr President for accepting to inaugurate the company’s storage terminal adjudged to be the largest storage terminal in West Africa.

He said the offshore intake of the storage terminal is also adjudged to be the deepest intake facility in entire Africa.

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According to him, “We, Pinnacle Oil and Gas limited, have come here to express our profound gratitude and our heartfelt appreciation to Mr. President.

“You will recall that on the 22nd day of October 2022, Mr. President inaugurated our storage terminal adjudged to be the largest storage terminal in West Africa, with offshore intake facilities also adjudged to be the deepest intake facility in the entire Africa, sitting at a water depth of 23 meters.

“So we do have SPM (Single Point Mooring), and CBM

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(Conventional Buoy Mooring).

Those are the offshore facilities we have. Those facilities have the capability to take the largest vessels, you can imagine and discharge over 100 million liters of clean petroleum products within 24 hours.

“This is typically what takes the industry 32 days to discharge. So we have largely come here to express our gratitude to Mr. President, for the honor he gave us in inaugrating this largest facility, which has actually changed the face of the industry, because it has eased as you know, this facility is located at the Lekki free zone, just by the Dangote refinery.

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“So what it has done, it has eased the congestion and the gridlock we have at the Apapa area in Lagos. It has also reduced the cost of supply and delivery of petroleum products in different parts of the country. It has also provided jobs for teeming unemployed Nigerians. So this is why we thought it necessary to come and say thank you to Mr. President.”

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Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

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Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.

The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.

One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”

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Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.

Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.

A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”

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Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.

The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.

The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.

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NEPZA, FCT agree to create world-class FTZ environment

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NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.

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Benue IDPs block highway, demand return to ancestral homes

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Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.

The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.

The protest caused disruption, leaving hundreds of motorists and passengers stranded.

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Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.

“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.

Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.

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Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.

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