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Buhari commissions Pinnacle’s Petroleum offtake facility, says Energy security cardinal to his govt

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President Muhammadu Buhari on Saturday commissioned the Pinnacle Oil and Gas FZE Terminal in Lekki, Lagos, saying the operations of the facility have eased congestion in the Apapa area, reduced cost and delivery of petroleum product distribution to many parts of our country.

In a video message at the inauguration of the facility, the President congratulated the Chief Executive Officer of Pinnacle Oil and Gas Limited, Peter Mbah, for establishing the massive terminal facility and providing hundreds of jobs to Nigerians.

The President described the investment as a demonstration of the success of his administration’s agenda to transform the nation’s economy, adding that government looks forward to many more investments of this magnitude.

Assuring investors of the continued support of the Federal Government in efforts to elevate the growing prosperity of the country, President Buhari said: ”Provision of energy security is one of the cardinal points of our administration.

The Pinnacle Petroleum Offtake facility unveiled

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”We have recognized that seamless supply and distribution of petroleum products is challenged by infrastructure deficit and complicated by the congestion in the Apapa areas of Lagos since the start of our administration in the year 2015.

”We provided targeted support to the energy industry by providing an enabling environment, including regulatory facilitation, to ensure investment in critical infrastructure.

”I am happy today that Pinnacle Oil and Gas limited leveraged the opportunities and established this massive terminal facility.

”I am happy to also note that further expansion works which are starting will further provide incremental value, especially more employment to our teeming youth population.

Dr. Peter Mbah, Chairman, Pinnacle Oil, Representative of President Muhammadu Buhari and Governor of Lagos State, Babajide Sanwo-Olu during the event

”The success of our agenda to transform our country is clearly demonstrated by this massive investment and the obvious contributions it has made to our overall economic well-being.”

President Buhari also reiterated that the Federal Government would continue to encourage and support investors to take advantage of the ongoing reforms in the oil and gas sector as enshrined in the Petroleum industry Act and replicate the feats achieved by Pinnacle Oil and Gas limited.

In his remarks, the CEO of Pinnacle expressed confidence that the terminal with over one billion litre-capacity will fulfil its promise by positively impacting the downstream oil and gas industry.

Mbah noted that the ultra-modern purpose-built petroleum products intake, off take and storage facility will facilitate the efficient receipt of imported petroleum products, improve general energy security in the country and trigger significant savings in costs of products at the pump.

He revealed that the company is already in advanced conversations with the Dangote group regarding collaborations to complement the operations of the nearby Dangote refinery which is soon to come on stream, with a view to forming the nucleus of what will become Africa’s largest energy logistics hub.

The energy chief thanked President Buhari, Federal and State authorities as well as the host community for their unflinching support in making the project, which commenced in 2011, a reality.

Pinnacle Oil’s Lekki Petroleum Products Terminal, at the Lekki Free Trade Zone

Describing the facility as a world class petroleum terminal with the capacity to handle products in two directions both import and export, Mbah explained that:

‘‘Mother Vessels arriving at the facility will have the opportunity to berth at either of our two offshore berths. Either the Conventional Buoy Mooring (CBM), which is in 17m of water depth and can handle vessels of up to 120 million litres, or our Single Point Mooring (SPM), which is in about 23m of water depth and can handle vessel sizes of up to 200 million litres.

”These moorings are connected to our storage facilities by four networked pipelines of 40km total length.

”These pipe networks are designed to empty the vessels in a maximum of two days, a significant improvement on the previous duration which could take up to 30 days.

”Our shore tank farm is currently able to handle up to 300 million litres of Premium Motor Spirit (PMS) as well as diesel or Automotive Gas Oil (AGO), and the facility is designed to permit rapid discharge into trucks for evacuation at a rate of up to 20 million litres per day.”

Mbah disclosed that the funding for the facility, which is over $1billion, was through a consortium of Nigerian banks.

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Alleged $1bn arms fraud: Funds given to Defence Ministry, not military — Gen. Buratai

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Former Chief of Army Staff, COAS, Lt. Gen Yusuf Buratai, retd., disclosed yesterday that the $1bn approved for defence procurement during his tenure as Army Chief by the federal government was released to the Ministry of Defence and not the services.

Gen Buratai disclosed that the funds, which were approved by the National Economic Council, NEC, did not pass through his hands or the accounts of the Nigerian Army, Navy and Air Force.

He said allegations surrounding the funds turned out to be “political and malicious,” noting that “they first emerged during the 2019 election period when the opposition alleged that the money had been diverted for electoral purposes”

His words:  The $1 billion was approved by the National Economic Council, NEC, for defence procurement. Not a single dollar of that fund passed through my hands or through the accounts of the Nigerian Army, Navy, or Air Force.

“The funds were released to the Ministry of Defence, and the entire procurement process was handled by that ministry. The Army, Navy, and Air Force never had a single dollar from that fund to make procurement directives.

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“I have described these allegations as political and malicious. They first surfaced during the 2019 election period when the opposition alleged the funds had been diverted for electoral purposes, a claim the federal government publicly refuted. Yet the stain remained, attached to the service chiefs, rather than the institution that managed the funds.”

The former COAS said the federal government publicly refuted the allegation at the time but lamented that the controversy continued to affect the reputation of service chiefs.

He faulted the ministry for not publicly explaining how the funds were disbursed or how contracts were awarded.

“The ministry, since then on its own, had not publicly explained how the funds were disbursed or contracts awarded. Accountability must be properly located,”he said.

While calling for greater transparency in military procurement, Buratai recommended the establishment of a defence procurement transparency portal to publish information on contracts awarded, contracting entities and delivery timelines, subject to national security considerations.

“The Ministry of Defence must own procurement record. The $1 billion arms procurement controversy festered because the institution that managed the funds, the Ministry of Defence, remained silent while service chiefs absorbed criticism.

“I recommend a Defence Procurement Transparency Portal that publishes, within national security limits, broad categories of contracts awarded, contracting entities, and delivery timelines.

“When the media asks where the money went, the answer should come from the ministry that spent it, not from military officers who never touched it,” he said.

Furthermore, Buratai proposed quarterly accountability bulletins summarising court martial outcomes relating to human rights violations and operational conduct, provided the publications did not compromise the rights of accused personnel or ongoing military operations.

Speaking on alleged human rights violations by members of the Nigerian security forces, Buratai said credible claims should be investigated and, where substantiated, prosecuted.

“I have always maintained that where credible allegations exist, they must be investigated and, where substantiated, prosecuted. The military is not above the law,” he said.

He acknowledged the need for the military to demonstrate that its disciplinary processes were credible, transparent and capable of addressing allegations at all levels.

He said that improved communication by the military and the Ministry of Defence would help address public concerns and ensure that media reports reflected the full context of security operations.

In his remarks, Former Senate President and Chairman Senate Committee on Defence Senator Ahmed Lawan, called  for a dedicated percentage of Nigeria’s revenue to funding of the Armed Forces of Nigeria and other security agencies to procure more platforms.

He noted that the National Assembly had been supporting the Armed forces and other security agencies by way of budgetary approvals.

He said:  “For us in the National Assembly, it is our duty to support the arm of government, to ensure that whatever resources are available and are required, are requested by the arm of government, we support that and we even give more.

‘’As at today, I am over 27 years as a member of the National Assembly, I have not seen any request sent by the executive for the armed forces and other security agencies that has not been approved. In fact, in most cases, they were always approved because we believe that security is first.’’

The Minister of Defence, General Christopher Musa, in his remarks, said:  ‘Today’s security threats are increasingly complex, adaptive and interconnected. Terrorist groups, criminal networks and other adversaries exploit information, technology, financial systems and gaps in coordination to pursue their objectives.

Represented by Air Commodore Steven Ogunmodede, retd., Senior Special Assistant on Foreign Relations, the minister said:  “Consequently, our response must combine effective combat operations with timely intelligence, technological capability, sound planning and cooperation among relevant security institutions.

“This is the essence of intelligence-led operations. The ability to identify a threat early, understand its networks, anticipate its intentions and act with precision can make the difference between preventing an attack and responding after lives have been lost.

“Technology can strengthen our surveillance, reconnaissance, communications and analytical capabilities, but it must be supported by trained personnel, reliable systems, effective doctrine and sound operational judgement.

“Technology is a force multiplier, it does not replace the human judgement, discipline and professional competence upon which military effectiveness ultimately depends.

“At the Ministry of Defence and across the Armed Forces of Nigeria, we recognise the importance of these capabilities and continue to pursue approaches that improve situational awareness, intelligence coordination and operational effectiveness.

“We must remain willing to learn, adapt and innovate, while ensuring that investments in technology translate into practical improvements in our ability to protect lives, defend our territorial integrity and respond to emerging threats.

“Equally important is the need to strengthen cooperation across our security architecture, because no single institution possesses all the information or capabilities required to address today’s security challenges.’’

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Rochas Okorocha arrested, released after one-hour Interrogation — Police

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Rochas Okorocha
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Former Imo State Governor, Senator Rochas Okorocha, was arrested by the Nigeria Police Force (NPF) on Monday night.

The Nigeria Police Force Public Relations Officer, CSP Aniete Iniedu, confirmed the development to Channels Television.

Okorocha, who was arrested at REIZ Continental Hotel in central Abuja, was, however, released on bail by the NPF following an hour of interrogation over allegations of criminal conspiracy, forgery and impersonation.

CSP Iniedu, who confirmed the arrest and subsequent release on bail to our correspondent, noted that the former governor was asked to return to the Force Headquarters on Tuesday for further interrogation as investigations into the allegations continue.

The arrest reportedly followed Okorocha’s failure to honour previous police invitations in connection with the ongoing investigation.

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He was initially invited to the Force Headquarters on September 2, but the appointment was rescheduled to September 8 at the request of his lawyers, a date he reportedly failed to honour.

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BREAKING: Soludo, Wike, Adeleke, others appointed member of APC Presidential Campaign Council

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Anambra Gov, Prof Chukwuma Soludo
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Anambra State Governor, Prof. Chukwuma Soludo, has been appointed a member of the All Progressives Congress (APC) 2027 Presidential Campaign Council list released last night.

This is despite the fact that he is the National Leader of the opposition All Progressives Grand Alliance (APGA).

Similarly, Federal Capital Territory (FCT) Minister Nyesom Wike, the National Leader of the opposition Peoples Democratic Party (PDP) and Osun State Governor, Senator Ademola Adeleke of the opposition Accord Party (AP), are on the expanded and all-inclusive team headed by President Bola Ahmed Tinubu.

Other members include Presidential Adviser on Policy and Coordination, Hadiza Bala Usman, former Ogun State Governor Ibikunle Amosun, former Lagos State Governor Akinwunmi Ambode, Aviation Minister Festus Keyamo, and former House of Representatives member Patrick Obahiagbon.

Also named as members are former Osun APC governorship candidate Bola Oyebamiji, former National Legal Advisers Dr. Muiz Banire and Babatunde Ogala, Chief Ayiri Emami, Victor Giadom, Magnus Abe, and former Ogun State Governor Gbenga Daniel.

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The list, according to a report by The Nation, reflects inter-party cooperation and harmony based on the shared vision of propelling the country to the horizon of progress.

The report quoted a statement by APC National Secretary, Senator Ajibola Basiru, as saying that the campaign council will be inaugurated tomorrow in Abuja.

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