Economy

1.2m Nigerians face acute famine, South Sudan, Yemen also affected.

Sola Adefioye

United Nations agencies have predicted a grim picture of possible starvation of over 1.2 millions Nigerians in the Northern part of the country by August, 2021.

According to the global agencies of World Food Programme (WFP) and Food and Agriculture Organization (FAO), in conflict-affected areas of Northern Nigeria, the number of people facing an emergency situation will likely double year on year to over 1.2 million by August 2021.

“Overall, in the next six months, Northern Nigeria is expected to face a marked deterioration of food security and nutrition, due to conflict and economic factors, aggravated by the secondary effects of COVID-19″ it said.

Two United Nations agencies also warned that millions of people in South Sudan and Yemen, also stood the risk of famine in the coming months.

“Urgent and targeted humanitarian action is needed to prevent hunger or death” in these areas, the agencies said in a joint report.

The three countries were among 20 “hunger hotspots” identified by the World Food Programme (WFP) and Food and Agriculture Organization (FAO) where existing acute food insecurity risks deteriorating further by July.

A specific sub-group — Afghanistan, Burkina Faso, the Central African Republic, DR Congo, Ethiopia, Haiti, Honduras, Nigeria, Sudan, South Sudan, Syria, Yemen and Zimbabwe, are particularly at risk.

Parts of their populations are already experiencing “extreme depletion of livelihoods, insufficient food consumption and high acute malnutrition”, the joint report warned.

“In such fragile contexts, any further shocks could push a significant number of people over the brink and into destitution and even starvation”, it said.

In parts of Jonglei state in South Sudan, the UN agencies said famine was already occurring, and “urgent, at-scale action is now needed to stop likely widespread starvation and death”.

Overall in South Sudan, some 7.2 million people are expected to be in food crisis — with high malnutrition or just marginally meeting minimal food needs — from April to July.

Some 2.4 million people are classified as in an “emergency” situation, with 108,000 people in the agencies’ “catastrophe/famine” grouping.

Urgent action is also required to prevent further destitution in parts of Yemen, the report said, with the number of people in or nearly in famine estimated to triple from 16,000 last October-December to more than 47,000 this June.

Those facing acute food insecurity in Yemen will rise by three million, it said, to 16.2 million people, with five million in an emergency situation.

There was some improvement, last November, the UN agencies classed Burkina Faso as a fourth country at risk of famine alongside South Sudan, Yemen and northern Nigeria.

But the alert in Burkina Faso had slightly lowered for the coming months, after a good harvest and improved delivery of food assistance to remote and inaccessible areas.

Continued conflict in the zone, however, means the situation “remains very concerning.”

Economy

EFCC under fire over failure to disclose identity of ex- government official owner of forfeited Abuja estate

Funso OLOJO

Enraged Nigerians have taken a swipe at the Economic and Financial Crimes Commission (EFCC) for keeping silent on the identity of a “former government official” who owns 753 units of duplexes on a 150, 500 square metres in Abuja which the commission said was from proceeds of corruption and forfeited to the Federal Government.

However, in a statement on Monday December 2nd, 2024, the anti- graft agency announced with glee the final forfeiture of the estate to the federal government.

According to the EFCC, the forfeiture order was made by Justice Jude Onwuegbuzie, on Monday, December 2, 2024 when he gave a ruling on the EFCC application that the gigantic estate be forfeited to government.

The estate is in Abuja measuring 150,500 square metres and containing 753 Units of duplexes and other apartments.

“This is the single largest asset recovery by the EFCC, since its inception in 2003.

” The Estate rests on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja” the statement declared.

The commission said the forfeiture of the property to the federal government by the owner who was simply described as “a former top brass of the government” was pursuant to EFCC’s mandate and policy directive of ensuring that the corrupt and fraudulent do not enjoy the proceeds of their unlawful activities.

In this instance, the Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of the Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.

Ruling on the Commission’s application for the final forfeiture of the property, Justice Onwuegbuzie held that the respondent have not shown cause as to why he should not lose the property, “which has been reasonably suspected to have been acquired with proceeds of unlawful activities, the property is hereby finally forfeited to the federal government.”

The road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024.

The government official which fraudulently built the estate is being investigated by the EFCC.

The forfeiture of the asset is an important modality of depriving the suspect of the proceeds of the crime.

The justification for the forfeiture is derived from Part 2, Section 7 of the EFCC Establishment Act, which stipulates that the EFCC “has power to cause investigations to be conducted as to whether any person, corporate body or organization has committed any offence under this Act or other law relating to economic and financial crimes and cause investigations to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”

However, the action of the anti graft agency has attracted scathing remarks from members of the public who were enraged by the failure of the commission to name and shame the owner of the forfeited property.

Nigerians, who took to their X handle, lambasted the EFCC, describing the non disclosure of the owner of the estate as inimical to the fight against corruption.

They disclosed that naming and shaming the owner would have sent a strong signal to all corrupt individuals, both in government and out of government of the genuine intentions of the EFCC to fight corruption.

The enraged respondents inquired that if the EFCC could quickly name and display the pictures of Internet fraudsters otherwise known as “Yahoo boys” publicly, they saw no justification for covering the identity of this ” ex government official”

Nevertheless,the Commission’s Executive Chairman, Mr. Ola Olukoyede, has repeatedly described asset recovery as pivotal in the fight against corruption, economic and financial crimes and a major disincentive against the corrupt and the fraudulent.

Addressing members of the House of Representatives Committee on Anti-corruption recently, he said, “If you understand the intricacies involved in financial crimes investigation and prosecution you will discover that to recover one billion naira is war.

“So, I told my people that the moment we start investigation we must also start asset tracing because asset recovery is pivotal in the anti-corruption fight; and one of the potent instruments that you can deploy as an anti-corruption agency for an effective fight is asset tracing and recovery.

“If you allow the corrupt or those that you are investigating to have access to the proceeds of their crime, they will fight you with it.

” So one of the ways to weaken them is to deprive them of the proceeds of their crime. So, our modus operandi has changed simultaneously.

“The moment we begin investigation, we begin asset tracing. That was what helped us to make our recoveries.”

Economy

NNPCL signs 10- year deal to supply gas to Dangote Refinery

Funso OLOJO

The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, has successfully executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE.

The agreement, signed by the Managing Director, NGML, Barr. Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote on Tuesday at the Corporate Head Office of Dangote in Falomo, Lagos State, outlines the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.

This major milestone is in line with President Bola Ahmed Tinubu’s policy of utilizing Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.

This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company (LDC) in the country.

Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day (MMSCF/D), 50MMSCF/D being firm supply and the rest 50MMSCF/D, interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.

This collaboration is a significant step toward ensuring the operational success of the Dangote Refinery and enhancing Nigeria’s domestic gas utilization.

NNPC Ltd., through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.

The agreement represents a milestone for both NNPC Ltd. and Dangote Refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.

It is also a further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd.’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country.

Economy

NNPC to unveil 12 CNG stations nationwide

Funso OLOJO

The Group Managing Director of Nigeria National Petroleum Corporation Limited (NNPCL) , Mele Kyari, has reiterated the company’s commitment to resolving Nigeria’s energy trilemma, by ensuring energy security, sustainable growth and energy affordability.

Kyari disclosed this at the opening ceremony of the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition themed: “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth and Affordability” in Lagos, on Monday.

The GCEO, who was the Special Guest of Honour at the occasion, also said the company has perfected plans to deliver 12 Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants soon, as part of efforts to boost the existing 1.6 billion standard cubic feet (bscf) of gas supply for the domestic market.

“The energy trilemma is a profound responsibility we shoulder as stewards of Nigeria’s energy future.

” NNPC Ltd. is working tirelessly to improve our supply chain, develop new refining capacities and expand our retail network,” Kyari stated.

According to him, NNPC Ltd. is set to collaborate with private refineries to ensure affordable and sustainable petroleum products supply; Naira-for-crude transactions in order to stabilise the local currency and regulate forex markets.

This, he added, will bring about expansion of gas infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) Gas Pipelines projects and the development of cleaner energy options, such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG).

“Currently, NNPC Ltd. supplies over 1.6 bscf of gas per day to the domestic market through infrastructure we either own outrightly or operate with partners.

” This distribution network is entirely managed on NNPC Ltd.’s balance sheet,” Kyari added.

Explaining that the Company is expanding its efforts to enhance domestic energy access, the NNPC Ltd. helmsman said the next 3-6 months will see significant project launches, including CNG mother stations, mini-LNG plants, and additional CNG daughter stations.

Kyari, who commended President Tinubu’s efforts to relieve forex pressures by reducing fuel imports and strengthening Nigeria’s local refining capacity, emphasised the need for collaboration, innovation, and technology in achieving Nigeria’s energy goals.

“Resolving the energy trilemma requires bold ideas, shared knowledge, and collective determination.

“Together, let us build a Nigeria where energy is secure, sustainable, and affordable for all.”

On NNPC Ltd.’s mandate to guarantee energy security as stipulated by the Petroleum Industry Act, 2021, Kyari said the Company has fostered partnerships and investments aimed at enhancing local production and generating revenue for economic diversification.

Reacting to claims that NNPC Ltd. is sabotaging the efforts of domestic refineries, Kyari said the NNPC Ltd. is part-owners of the Dangote Refinery, stressed further that such an investment is a strategic move aimed at strengthening domestic fuel supply.