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Pinnacle Oil and Gas: The Limits of Propaganda

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By Uche Anichukwu

In teaching the mystery of the little beginning of the gospel, Christ gave the parable of the mustard seed, which someone sowed in the field. Although it is the smallest of all the seeds, it ultimately grew into a tree so that birds of the air made nests on its branches. This is only true about the gospel; it is also true about life, generally. Big things start small. And that includes today’s big accomplishments and trillion dollar businesses.

In the 1950s, many publishers turned down the manuscript of a 28 years old Nigerian. Only Heinemann gave the author and African fiction any chance and published it. But it ultimately became the most widely read book in modern African literature. According to Wylie Agency, it sold over eight million copies in 60 languages, globally. This is the story of the legendary Chinua Achebe and “Things Fall Apart”.

Apple started off in the garage of Steve Jobs’ adopted parents in Cupertino, California where the Reed College dropout later teamed up with another dropout, Steve Wozniak. Today, Apple is worth $2.65 trillion in market capitalisation. The HP brand started off in a 12-by-18-foot garage with just $538 investment in California, but it worth $26.24 billion. Amazon.com began from a garage in Seattle, USA. Its current market capitalisation is $1.42 trillion. Larry Page and Sergey Brin rented Susan Wojcicki’s 1,900-square-foot home in the course of Google’s journey to being corporate giant. Alphabet Inc., Google’s parent company is worth $1.54 trillion. Walt Disney started in 1923 in a garage belonging to Walt’s uncle, Robert Disney. The company’s net worth today is $203.63 billion.

So, today’s big businesses started small yesterday and on the Nigerian scene, that includes Pinnacle Oil and Gas Ltd., which was registered by Dr. Peter Mbah in 2004 (not 2007 as some claim), but started operations in 2008 with a N1 million capital base and two staff in a one-room apartment in Lagos. But by dints of radical innovation and unimpeachable integrity, Pinnacle weathered the odds in already saturated petroleum downstream subsector dominated by the oil majors to become the number one in the industry. And this is something the people of Enugu, Nigerians, and the Nigerian President, Muhammadu Buhari, are proud of.

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One therefore wonders why the malicious propaganda around Pinnacle Oil and Gas Ltd. simply because its Founder and CEO, Dr. Peter Mbah, is running for the governorship of his home state, Enugu. If the inspiring stories of Amazon.com, Apple, and Google etc. are possible, why do some desperate politicians want to sell the falsehood that Pinnacle revolution was powered by funds looted from Enugu’s treasury? It is an unfortunate debasement of Enugu people before the world as low-thinking people, who know nothing about how modern businesses are financed or built.

By the way, how much of Enugu’s money for the short period Mbah spent in government as Chief of Staff and Commissioner could have built just the Pinnacle’s $1 billion offshore, subsea terminal that President Buhari commissioned recently?

Modern businesses thrive on ideas. Once you have a brilliant idea and the credibility, and pass the due diligence check, financiers are likely to bankroll your project. For instance, it is a fact that a consortium of banks, namely, First Bank, Fidelity Bank, Globus Bank and Coronation Bank, who believed in the pioneer project, financed Pinnacle’s $1 billion terminal. This and the fact that reputable international partners are eager to do business with Mbah and Pinnacle is a testament to his integrity, scrupulousness, and good governance of the company. No bank puts a dime into a project without due diligence.

Pinnacle is audited by KPMG, a foremost audit firm in the world. Obviously the propaganda peddlers do not know what it means to be audited by KPMG. That firm cannot possibly audit a company without due diligence check on both the company and its promoters let alone sit on any proceeds of crime as an auditor.

Furthermore, an American is Pinnacle’s Chief Operating Officer (COO) in addition to 12 expatriate staff from US, UK, Netherlands, etc. You can’t attract and retain such without an irreproachable integrity, transparency, and good corporate governance.

Those who think Mbah just went into business after serving in the Government of Enugu State got it all wrong. He has paid his dues in the business world starting from the late 1980s and early 1990s as a young man. By 1992, he had already set up companies and was importing 18 containers of electronics and spare parts from Europe. He built his first house in Lagos in 1992 and set up FOCUS International School that early in life.

By 1993, Mbah had already penetrated the petroleum downstream subsector as a representative of the U.S-based International Oil Company (IOC) courtesy of the late Dr. Lazarus Agbowo, who was the Vice President of the IOC. He was earning commissions on every barrel of crude oil lifted. He achieved these as a young man before heading to the University of East London for his Law degree and returned to the country immediately after to manage his businesses.

His stint in the public sector as Chief of staff and later as Commissioner was by chance because it was offered to him when he came to Enugu for his Law School programme. He was never a subject of any Economic and Financial Crimes Commission investigation and neither he nor Pinnacle was ever charged to court let alone enter into any plea bargain with the EFCC. His name was struck out before any matter concerning Enugu went to court. He has publicly challenged anyone with proof to the contrary to come up with it.

It is noteworthy that Dr Mbah rejected a bribe of $20 million by a syndicate that wanted to defraud the IOC in the 1990s.

In any case, the malicious propaganda speaks about the character of those behind it. It takes someone, who has never built anything in his or her life, except shady enterprises and living off government patronage as appointees and contractors to think that one just needed a huge sum of money to build Pinnacle into a unicorn as Mbah has done. With all the money in the world, a late entrant like Pinnacle could still not have taken 23 per cent of the market share and topple the major distributors to emerge the number one in the downstream petroleum subsector without dints of sweeping innovation, integrity and industry.

Dr. Mbah has presented a manifesto that has impressed the people of Enugu as comprehensive and ambitious. He is also marketing it in town hall meetings across the 68 development centres. He has promised to replicate the Pinnacle success story by, among others, growing Enugu’s economy from the present $4.4 billion to a $30 billion economy in eight years. Anyone who thinks he can do better should put his manifesto and pedigree on the table for the electorate to decide because Enugu people are not interested in propaganda.

• Anichukwu is Deputy Director, Mainstream Media, Enugu PDP Campaign Orgnaisation

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2027: ‘Peter Obi must not die’ — Igbo Group warns of catastrophic consequences

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Peter Obi, Presidential candidate of NDC
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Njiko Igbo Forum, an affiliate of Ohanaeze Ndigbo, has issued a stern warning ahead of the 2027 general elections, cautioning that it will be catastrophic should anything happen to Mr Peter Obi.

It could be recalled that Obi, on Wednesday, raised the alarm that his life was under threat.

The presidential candidate of the Nigeria Democratic Congress, NDC, raised fears that he may not be alive in 2027 to be part of the election.

However, in a statement issued on Thursday, Rev Dr Okechukwu Christopher Obioha, Leader, Njiko Igbo Forum Nigeria, he warned that should anything happen to Obi or he was not in the ballot, the reaction and result would be very catastrophic.

Obioha said the caution was part of the decision taken during an emergency meeting held today, Thursday, in Enugu.

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The Forum said, “That we have seen the viral video made by His Excellency, Mr Peter Gregory Obi, speaking on a number of issues, he expressed serious concern that his life is in danger.

“For him to have gone to the extent of saying he might not be alive before the 16th of January 2027, speaks volumes both in our polity and in the country at large.

“We have seen him in the past, spoke about the federal government trying to frustrate and targeting him not to be in the ballot.

“We have also observed over a period of time that the presidency or the federal government led by President Tinubu does not want Peter Obi to be in the ballot.”

While drawing the attention of the Presidency, Nigeria and the world to those allegations, Njiko Igbo Forum declared that “if anything happens to Mr Peter Gregory Obi or finally his name is not in the ballot for the 16th January, 2026 presidential election, the reaction and result will be very catastrophic and may adversely affect the continued unity in diversity of this country Nigeria.”

It further stated that the Igbo had been very quiet, pushed to the wall, segregated against, marked out everywhere, chased about and even tried to take their possessions.

Njiko Igbo Forum cautioned that keeping quiet does not mean the Igbo are cowards.

It said the ruling government should not forget that for any democracy to thrive, there must be a viral opposition in the polity.

“There is no reason, for what we have seen in the process or polity in trailing Peter Obi and going to an extent of chasing him through all the political parties and now wanting to kill him.

“This outcry by Mr Peter Gregory Obi, must not be taken lightly and request as a matter of urgent National importance, that an urgent investigation panel be constituted to verify Mr Peter Obi’s allegations.

“We are strongly stating again that, nothing should happen to Mr Peter Gregory Obi.

“Yes, Chief Awolowo said, before Nigeria he was of the Yoruba Nation. The same way we are saying before Peter Obi is of Nigeria, he is of the Igbo.

“Mr Peter Gregory Obi will live and become the President of the Federal Republic of Nigeria in 2027,” it declared.

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I might not be alive to contest in 2027 – Peter Obi raises alarm over threats to his life

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Peter Obi not arrested by DSS – Aide
Peter Obi, NDC Presidential candidate
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Presidential candidate of the Nigeria Democratic Congress, NDC, Mr Peter Obi, has cried out over alleged threat to his life.

Obi, who is a major contender ahead of the 2027 presidential election said he might not be alive to participate in the election.

According to him, there is obvious attack on everything that had to do with him, including his life.

The former Anambra state governor made the allegation during a podcast with Chude Jideonwo.

“The way they are going now I might not be alive,  I’m telling you every single thing I do for a living this government is frustrating it deliberately so.

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“Everything, so there’s even a possibility if they have opportunity I will not be alive. I get frustrations every day because you do things that may think it may be normal it is not normal they won’t come directly and say oh we are doing this but you could see their hand in eventually everything.

“The government is attacking everybody, I am being attacked personally even to provide me with things I am entitled to, not at all,” he said.

He recalled how his vehicle was clamped down at the airport while he was right there, whereas other vehicles lined up on the same spot were untouched.

Obi further that stated that even close associates were beginning to avoid him over fear of government clampdown.

He disclosed that friends now send him invitations for occasions but tell him not to bother attending.

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Voters reward performance as APC sweeps Ekiti, dominates Bye-Elections nationwide — Yilwatda

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Professor Nentawe Yilwatda
Professor Nentawe Yilwatda
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The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has described the resounding victory of Governor Biodun Oyebanji in the Ekiti State Governorship Election and the party’s impressive performance in the recent bye-elections across the country as a clear vote of confidence in the APC, the administration of President Bola Ahmed Tinubu, and the ongoing reforms being implemented to reposition Nigeria for sustainable growth and prosperity.

Prof. Yilwatda stated that the outcome of the elections demonstrates that Nigerians are able to distinguish between temporary economic challenges associated with reforms and the long-term benefits of responsible governance, economic restructuring, infrastructure development and institutional renewal being championed by the APC at both federal and state levels.

According to the National Chairman:

“The overwhelming victory recorded by our great party in Ekiti State and our remarkable success in the bye-elections across the country represent a powerful endorsement of the APC’s governance philosophy. These results affirm that Nigerians appreciate leadership that prioritises development, accountability, stability and the welfare of the people.”

“The people of Ekiti State have once again demonstrated that performance remains the most potent campaign message in democratic politics. Governor Biodun Oyebanji’s resounding re-election is a reward for visionary leadership, inclusive governance, prudent management of resources and visible developmental achievements across the state.”

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Governor Oyebanji of the APC was declared winner of the Ekiti Governorship Election after securing a commanding victory across the state, reaffirming the confidence of the electorate in his administration and the APC’s developmental agenda. The party also recorded significant victories in five of the six bye-elections conducted across various states of the federation.

Prof. Yilwatda, in a statement signed by his Special Adviser on Media and Information Strategy, Abimbola Tooki, noted that the Ekiti result has further strengthened the APC’s narrative that performance-based governance remains electorally rewarding, even amid difficult economic transitions.

“The Ekiti election has become a national reference point. It confirms that when governments deliver tangible results in infrastructure, education, healthcare, agriculture, youth empowerment, security and social development, citizens respond with renewed trust and overwhelming electoral support.”

“This victory sends a clear message that governance, not propaganda, remains the most effective route to political legitimacy. The people of Ekiti have spoken loudly and clearly in support of continuity, stability and progress.”

The APC National Chairman described Ekiti State under Governor Oyebanji as one of the most compelling governance success stories in contemporary Nigeria, citing sustained investments in road infrastructure, rural development, human capital advancement, healthcare delivery, agricultural productivity, workers’ welfare and ease of doing business.

He said the administration has successfully built broad-based political consensus while maintaining a strong focus on development outcomes, thereby creating an environment of stability and accelerated progress.

“Ekiti today stands as a shining example of how APC governments are translating public trust into measurable development outcomes. The state’s progress under Governor Oyebanji provides a practical demonstration of our party’s commitment to people-centred governance.”

Prof. Yilwatda further stated that the election outcomes should be viewed within the broader national context of President Bola Ahmed Tinubu’s reform agenda, which is gradually laying the foundation for a more resilient, productive and globally competitive Nigerian economy.

“Despite inheriting deep structural challenges, President Bola Ahmed Tinubu has demonstrated courage and vision in implementing reforms that are necessary for Nigeria’s long-term prosperity. The confidence reposed in our party by voters across the country indicates growing public understanding and appreciation of these reforms and their future benefits.”
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“These victories are therefore not only electoral successes; they are validations of a governing philosophy anchored on bold leadership, responsible decision-making and sustainable development.”

The National Chairman congratulated President Tinubu, Governor Biodun Oyebanji, APC leaders and members in Ekiti State and across the federation, as well as all candidates who emerged victorious in the bye-elections.

He also commended the Independent National Electoral Commission (INEC), security agencies and the people of Ekiti State for the peaceful conduct of the election.

Prof. Yilwatda assured Nigerians that the APC would remain focused on delivering good governance at all levels and deepening democratic dividends for citizens across the country.

“Our message to Nigerians is simple: we have heard your voices, we appreciate your confidence and we shall continue to justify the trust you have placed in our party through impactful governance, economic renewal and inclusive national development.”

“The APC remains committed to building a stronger, more prosperous and more united Nigeria. The victories recorded in Ekiti and the bye-elections reinforce our resolve to work even harder in service to the Nigerian people.”

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