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NNPCL invites Obasanjo to tour PH, Warri Refinerie

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Former President Olusegun Obasanjo received a special invitation yesterday: a tour of the Port Harcourt and Warri refineries to confirm their operational status.

The Nigerian National Petroleum Company Limited (NNPCL) assured Obasanjo the days of inefficiency were gone and that the one-time corporation is now a profit-driven company.

NNPCL was reacting to an interview Obasanjo granted Channels Television, in which he said Shell Petroleum Development Company (SPDC) told him that the NNPCL could not run a refinery.

According to him, SPDC was invited to buy equity in the plant but complained that corruption would never allow it to function.

Obasanjo expressed the view that NNPCL had been very deceptive about the functionality of the refineries.

The Port Harcourt Refinery started working in November, while Warri began operation last month.

NNPCL Chief Corporate Communications Officer, Mr. Olufemi Soneye, extended the company’s invitation to the former president for a tour of the refineries.

He said: “We extend an open invitation to President Obasanjo for a tour of the rehabilitated refineries to witness firsthand the progress made under the new NNPC Limited.

“We invite our esteemed former president to join us in this effort as we continue to deliver energy security for our nation and provide tangible benefits to Nigerians.

“His wisdom and experience are invaluable, and we assure him that his advice will always be welcomed and appreciated.

”According to Soneye, NNPCL did not merely carry out turnaround maintenance but did a complete overhaul of the refineries.

He said: “As part of this transformation, NNPC Limited has gone beyond oil and gas to become an integrated energy company.

“One of our notable achievements is the complete rehabilitation of the Port Harcourt Refining Company (PhRC) and Warri Refinery.

“This process was not merely the Turnaround Maintenance (TAM) of the past but a full-scale overhaul designed to meet world-class standards.

“Similarly, we are currently conducting the same comprehensive rehabilitation of the old Port Harcourt Refinery and Kaduna Refinery.”

The spokesman said NNPCL has also moved on from being a loss-making organisation to profit -driven international energy firm.

The new NNPC Limited, Soneye said, is committed not only to enhancing the refineries but also to maintaining them to global standards.

He said: “The NNPC has undergone a transformative journey, evolving from a government corporation into a private entity—NNPC Limited.

“This transition has marked a significant shift from being a loss-making organisation to a profit-oriented global energy company.

“We deeply respect and hold President Obasanjo in the highest regard as a distinguished statesman who has contributed significantly to the progress of our nation.

“He has every right to share his perspectives on national issues, and we value his insights and counsel.

“We remain grateful for his leadership and enduring commitment to the growth and development of Nigeria.

“Together, we can continue to build a brighter future for our great nation.”

Obasanjo said his successor, the late President Umaru Musa Yar’Adua, rejected a $750 million offer from Aliko Dangote to manage the Port Harcourt and Kaduna refineries in 2007.

Speaking on the television programme, the former president said he sought external help to rehabilitate and manage the facilities but faced resistance.

“When I was president, I wanted to do something about the three refineries: Port Harcourt, Warri, and Kaduna.

“Aliko got a team together after I asked Shell to come and run it for us. And Shell said they wouldn’t.

“Later on, I called them. I called the boss of Shell to come and tell me what the problem was and he gave me four or five reasons.

“He (Shell boss) said, first of all, they make a major profit from upstream, not from downstream. He said they run downstream just to keep their head above water.

“Two, our refineries were too small: 60,000 barrels, 100,000 barrels and I think 120,000 barrels. He said that at that time, the average refinery was going for 250,000 barrels.

“Three, he said our refineries were not well maintained. Four, he said there was too much corruption around the activities of our refinery and they would not want to get involved in that.

“After that, Aliko got a team together and they paid $750million to take part in PPP (Public–Private Partnership) in running the refineries.

“My successor refunded their money and I went to my successor and told him what transpired.

“He said NNPC said they wanted the refineries and they could run it. “I said: ‘But you know they cannot run it.’

”Obasanjo was confident in Dangote’s ability to manage his refinery effectively, unlike those of the NNPCL.

“I was told not too long ago that since that time, more than $2 billion have been squandered on the refineries and they still will not work.

“If a company like Shell tells me what they told me, I will believe them.

“But here we are, over $2 billion squandered, and the refineries still won’t work,” Obasanjo said.

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Dangote refinery gets new CEO

David Bird is the former head of Oman’s Duqm Refinery

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The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird, the former head of Oman’s Duqm Refinery, as its new Chief Executive Officer.

A report by S&P global on Friday said, Bird heads the refinery’s petroleum and petrochemicals division in a strategic move to overcome production challenges and advance its next wave of expansion.

Effective from July 2025, the former Shell head of operations at its Balau Pokom refinery stepped in as CEO of the Dangote Group’s fuels and petrochemicals business, which commissioned the world’s largest single-train refinery last year.

The CEO participated at the just concluded Dangote Leadership Development Program Graduation Ceremony.

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Trump Imposes 15% tariff on Nigerian Imports

Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.

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US President Donald Trump has approved a 15 percent import tariff on Nigeria and dozens of other countries.

The White House announced the implementation of the new reciprocal tariff rates on Thursday.

In April, Trump imposed a 14% tariff on Nigerian imports, citing the need for fairer trade terms.

That move was followed by a 90 – day grace period to allow time for bilateral trade negotiations, pushing the final decision deadline to August 1.

However, the majority of talks failed to result in new trade agreements.

As a result, the new tariff rates are now being implemented, with Nigeria among dozens of countries facing increased duties under the revised plan.

African countries, including Nigeria, were unable to secure individual trade deals with the United States despite urgent efforts from both sides.

During the negotiation window, Trump also reintroduced travel restrictions targeting several African nations. Though Nigeria was initially exempt, it was later added to the list as the policy evolved.

Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.

Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.

10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.

More severe penalties include 25–41% tariffs for countries like India, South Africa, Iraq, and Syria.

Switzerland faces a steep 39% duty, while Laos and Myanmar are hit with 40%.Syria tops the list at 41%.

Meanwhile, negotiations are still ongoing with China, Washington’s main trade rival.

Canada is facing a 35% tariff, while Mexico was hit with a trio of levies, including a 50% duty on metals. Brazil, previously under a 10% tariff, was slapped with an additional 40% charge on Thursday, bringing its total to 50%.

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EU accuses online giant Temu of selling ‘illegal’ products

EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.

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The European Union accused Chinese-founded online shopping giant Temu on Monday of breaking the bloc’s digital rules by not “properly” assessing the risks of illegal products.

AFP reports that TEMU, wildly popular in the European Union despite only having entered the continent’s market in 2023, Temu has 93.7 million average monthly active users in the 27- country bloc.

EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.

Evidence showed that there is a high risk for consumers in the EU to encounter illegal products on the platform,” the European Commission said in its preliminary finding.

It pointed to a mystery shopping exercise that found consumers were “very likely to find non-compliant products among the offer, such as baby toys and small electronics.”

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