NNPC's Forward Oil Sales Hit $21.5bn in Six Years, Hobble Domestic Crude Obligations New project Gazelle II to gulp $7.5bn, ‘strike price’ below market price As local refiners complain of unmet supply requirements
Emmanuel Addeh in Abuja Forward crude sales by the Nigerian National Petroleum Company Limited
(NNPC), have hit $21.565 billion since 2019, a document obtained by THISDAY showed yesterday, further buttressing why it's almost impossible
for the national oil company to meet its Domestic Crude Supply Obligation (DCSO) to local refiners. The document obtained from
impeccable sources indicated that since the controversial ‘Project Gazelle’ in 2023, the NNPC has gone into at least two other agreements, tagged
‘Project Leopard’ and ‘Project Gazelle II’, which will cost the company $2 billion and $7.5 billion respectively. It's unclear the quantity of crude
oil that has been mortgaged, but the information available to THISDAY Continued on page 5
Elumelu Unveils $15m Support for 3,000 Young African Entrepreneurs... Page 9 Monday, January March 24, 6, 2025 Vol 30. 29. No 10942. 10865. Price: N400
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Pope Francis Returns to Vatican after Five Weeks in Hospital Emmanuel Addeh in Abuja
L-R: Media and Communications Advisor at the U.S. Embassy, Temitayo O. Famutimi; Public Affairs Chief and Spokesperson for the U.S. Department of State, Julie McKay; and Chairman/Editor-in-Chief of THISDAY/ARISE News Channel, Nduka Obaigbena, during a courtesy visit to the media group in Lagos…recently
Pope Francis returned to the Vatican yesterday after surviving a five-week battle in hospital against double pneumonia that became the most serious health crisis of his 12-year papacy, a Reuters report said. The 88-year-old pope, who also made his first public appearance since February 14 before being discharged from Rome's Gemelli hospital, left the facility shortly Continued on page 5
Wabara: Declaration of State of Emergency in Rivers is Assault on Nation’s Democracy NBA condemns ratification via voice votes, says it's placing something on nothing
Chuks Okocha in Abuja, Wale Igbintade in Lagos, Sylvester Idowu in Warri, Blessing Ibunge in Port Harcourt and Emmanuel UgwuNwogo in Umuahia
Chairman, Board of Trustees (BoT) of the Peoples Democratic Party(PDP) and former Senate President, Senator Adolphus Wabara, has condemned the declaration of a State of Emergency in Rivers State, describing it as an assault on democracy. The BoT position toes same line as the party's governors and the National Working Committee (NWC). This was as the Nigerian Bar
Association (NBA), last night, condemned the National Assembly’s ratification of the state of emergency rule through voice votes, saying it did not also legitimise President Bola Tinubu’s action. According to the NBA, who said the approval was akin to "placing something on nothing", the situation in Rivers State did not warrant the declaration of emergency rule. This was as the Conference of Professionals in the PDP (CP-PDP),has urged the leadership of the PDP to sanitize the party by immediately expelling the Minister of the Federal Continued on page 5
UNVEILING OF 3,000 BENEFICIARIES OF YOUNG ENTREPRENEURS...
R-L: Founder, Tony Elumelu Foundation, Mr. Tony O. Elumelu, CFR, and Co-Founder, Dr. Awele V. Elumelu, OFR, at the unveiling of 3,000 beneficiaries of young entrepreneurs for the 2025 cohorts of the Tony Elumelu Foundation (TEF) Entrepreneurship Programme in Abuja on Saturday