The Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday, in Abuja said the Federal Government still owes the company N2.8tn that it had spent on petrol subsidy.

Malam Kyari said the NNPC has been funding the subsidy from the cash flow of the company which has continued to pose a great challenge.

“Today, we are waiting for them to settle up to N2.8tn of NNPC’s cash flow from the subsidy regime and we can’t continue to build this,” Kyari told State House Correspondents after meeting with President Bola Tinubu at the Presidential Villa, Abuja.

During his inaugural speech on Monday, the President said he was aware that the 2023 appropriation act does not provide for petrol subsidy beyond June; the end of the 18-month extension period approved by the Buhari administration for the discontinuance of petrol subsidy.

Therefore, he confirmed that the subsidy will not be continued.

Affirming the President’s stance, Kyari argued that the subsidy payment is no longer tenable as it makes it difficult for the company to fund its core businesses.

He said “Since the provision of the N6tn in 2022, and N3.7tn in 2023, we have not have not received any payment whatsoever from the Federation.

“That means they (Federal Government) are unable to pay and we’ve continued to support this subsidy from the cash flow of the NNPC. That is, when we net off our fiscal obligations of taxes and royalty, there’s still a balance that we’re funding from our cash flow. And that has become very, very difficult and affecting our other operations.

Kyari who said the NNPCL has footed petrol subsidy from its cash flow said the government is unable to payback the N2.8tn spent so far.

“So today the country don’t have the money to pay for subsidy. There’s incremental value that will come from it. But it is not an issue of whether you can do it or not because today we can’t afford it and they are not able to pay our bill. That comes to how much is the federation owing NNPC now.

“Today, we are waiting for them to settle up to N2.8tn of NNPC’s cashflow from the subsidy regime and we can’t continue to build this,” he explained.

Kyari said the reemerging petrol queues nationwide are understandable as marketers will like to understand the meaning of the president’s pronouncement that “subsidy is gone.”

He said that the uncertainty on the remark also caused consumers to rush for the product, causing queues.

The NNPCL boss assured Nigerians that the government will initiate measures to cushion the effects of the subsidy discontinuance.

Kyari was also joined by the Chief Executive Officer of Nigerian Mainstream and Downstream Regulatory Authority, Faruk Ahmed, who said the FG will not place any price cap on the sale of petroleum products in the country.

Sympathises with family, management of DAAR Communications…

Kogi State Governor, Yahaya Bello has described the death of esteemed media mogul and founder of DAAR Communications Plc, Aleogho Raymond Dokpesi as a colossal loss to the nation.

He made this known via a press statement issued by the Chief Press Secretary to the Governor, Onogwu Muhammed.

While extending his deepest sympathies to the family, management and staff of DAAR communications Plc. He said “I was deeply saddened to hear of the passing of the esteemed media mogul and visionary behind AIT News Network and Raypower FM, Dr Raymond Dokpesi”.

“Dr Dokpesi was a true pioneer and an iconic figure in the realm of media”.

Bello says Dokpesi’s relentless efforts and unwavering dedication played a vital role in deepening the concept of a free press and shaping the landscape of journalism in our country stating that through his media platforms, he fearlessly embraced the responsibility of presenting unbiased news and providing a platform for diverse voices to be heard.

“His relentless efforts and unwavering dedication played a vital role in deepening the concept of a free press and shaping the landscape of journalism in our country. Through his media platforms, he fearlessly embraced the responsibility of presenting unbiased news and providing a platform for diverse voices to be heard”.

Governor Bello says Dr Raymond Dokpesi’s impact of work extended far beyond the realms of journalism that he recognized the potential of the media industry as a catalyst for job creation and economic growth.

“Through his visionary leadership, he not only established reputable media outlets but also created countless employment opportunities for aspiring journalists, reporters, technicians, and other professionals in the media field.

His commitment to fostering talent and nurturing careers will continue to leave a lasting legacy.
“His contributions to the media landscape will forever be remembered and celebrated.

His relentless pursuit of truth and dedication to the principles of free press have not only shaped the media industry but have also played a significant role in strengthening our democracy”.

Yahaya Bello says Dokpesi’s absence will be deeply felt, not just within the media fraternity but by all those who admired and respected his work while praying for the peaceful repose of the departed soul.

He urged the family, management and staff of DAAR Communications to take solace in Dokpesi’s remarkable achievements and the positive impact he had on countless lives.

“During this time of profound loss, please know that you are in my thoughts and prayers. May you find solace and strength in the memories of Dokpesi’s remarkable achievements and the positive impact he had on countless lives.

In a commendable display of collaboration between security forces and local vigilantes, the combined efforts in Kogi/Koto Local Government Area of Kogi State have resulted in the successful rescue of the three remaining victims who were abducted on the Lokoja-Abuja highway last Thursday.

Following the initial rescue of ten victims on Friday, as reported by Retired Commodore Jerry Omodara, the Security Adviser (SA) to Gov. Yahaya Bello, the recent development marks a significant breakthrough in the ongoing efforts to combat criminal activities in the region.

Dauda Aliyu, the Chairman of Kogi/Koto local government area, confirmed the liberation of the three victims, attributing their release to the unwavering dedication of the security operatives. Despite their previous successful rescue mission on Friday, the security forces continued their relentless pursuit of the criminals responsible for these heinous acts.

Aliyu emphasized that the administration of Governor Bello remains committed to ensuring the safety and well-being of all citizens. No victim will be left to suffer at the hands of criminal elements. The security operatives are determined to root out criminals from every corner of the state.

Furthermore, Aliyu expressed confidence in Governor Bello’s formidable security architecture, highlighting the government’s resolve to maintain this robust approach until the end of his tenure. The focus remains on sustaining the security achievements for the benefit and security of the people of Kogi State.

While we celebrate the release of the victims, it is with a heavy heart that we report that one of the abducted victims, who happened to be pregnant, suffered a miscarriage during the rescue operation. She was taken to a nearby hospital in Gegu where she was treated and discharged.

The three rescued victims are Chioma anaghara, Imo state, Age: 31yrs Esiongwu Lilian chidimma, imo state, Age 36 yrs and Ibe ugochi, imo state, Age 40

The Chief Executive Officer of Social Plus Africa Communications Ltd, has extended his warm wishes to President Bola Ahmed Tinubu on his inauguration as President of the Federal Republic of Nigeria.

Tinubu took the oath of office on Monday 29th May 2023 as the new President of Nigeria marking the beginning of a renewed hope for many Nigerians.

In a statement issued by the Head, Corperate Affairs Unit, Hajia Maryam Abdullahi, Amb. James Momoh, recognized the significance of this moment, expressing his heartfelt congratulations to President Bola Ahmed Tinubu.

According to the statement, Amb. Momoh commended President Tinubu for his remarkable journey to the highest office in the land.

He highlighted the President’s vast experience and unwavering commitment to the betterment of Nigeria, expressing confidence in his ability to lead the nation towards progress and prosperity.

Amb. Momoh also emphasized the importance of collaboration between government and the private sector, expressing the organization’s willingness to work alongside the new administration to drive innovation and economic growth.

In the same Vein, he also congratulated the newly sworn in Governor of Lagos state, Governor Baba Jide Sanwo-Olu as he takes second term Oath of office.

Furthermore, Amb. Momoh acknowledged the exceptional leadership and qualities of Governor Baba Jide Sanwo-Olu.

He praised the Governor’s track record of effective governance during his previous term and lauded his dedication to the welfare of Lagos State residents.

Momoh expressed his belief that under Sanwo-Olu’s leadership, Lagos State would continue to thrive and evolve as a center of excellence, attracting investments and creating opportunities for its citizens.

Social Plus Africa is a leading news and media organization delivering news and information to Africans across the continent through television, radio, online and print media.

The company’s contributions in various sectors have garnered recognition both domestically and internationally.

With the support and cooperation of well meaning Nigerians, Governments and the private sector, President Bola Ahmed Tinubu and Governor Baba Jide Sanwo-Olu are poised to lead Nigeria and Lagos State towards a future of progress, inclusivety, and prosperity.

Hajia Maryam Abdullahi
Head, Corporate Affairs Unit, Social Plus Africa Communications.

In a show of admiration and support, the entire management of Social Plus Africa Communications Ltd ( SPACOM), have extended their heartfelt congratulations to the Executive Governor of Kogi State, His Excellency Alh.Dr. Yahaya Adoza Bello, on his recent conferment as Commander of the Order of the Niger (CON).

The prestigious Order of the Niger Award is one of the highest National honors bestowed upon distinguished individuals who have made significant contributions to the development and progress of Nigeria.

According to a statement issued by the Organization Head, Corporate Affairs Unit, Hajia Maryam Abdullahi, “Governor Bello has been recognized for his exemplary leadership and unwavering commitment to the development and welfare of the people of Kogi state”.

The organization acknowledged the Governor’s numerous achievements, including his transformative initiatives in healthcare, infrastructure development, education, and empowerment programs for the youth.

“We are delighted to extend our warmest congratulations to Governor Yahaya Bello on his conferment as CON”.

“This prestigious recognition is a testament to his exceptional leadership and tireless efforts in advancing the cause of development and progress in Kogi State”.

SPACOM Limited which is known for its dedication to promoting sustainable development and fostering positive change across the African continent, applauded Governor Yahaya Bello’s remarkable achievements as the executive governor of Kogi State.

Social Plus Africa Communications (SPACOM), is a leading media and communications company, which has been actively involved in promoting positive change and celebrating the achievements of individuals and organizations across Africa.