Economy
NARTO: Risk Of Losing N300 Billion If FG Bans 60,000- Litres Capacity Tankers From Roads
NARTO: Risk Of Losing N300 Billion If FG Bans 60,000- Litres Capacity Tankers From Roads
Risk of losing N300 billion if FG bans 60,000- litres capacity tankers from roads. Mr Othman said the cause of the accidents was not 60,000-litres capacity of the tankers but could be the condition of the roads, state of vehicles and the drivers.
The National Association of Road Transport Owners (NARTO), has expressed fear over Federal Government’s plan to ban 60,000 litres capacity tankers from Nigerian riads following the rising cases of accidents involving fuel tankers.
NARTO President, Yusuf Othman during an interview in Abuja on Sunday, said such a move would cause a loss of N300 billion worth of investments by tanker owners.
The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is considering placing a ban on 60,000 litres capacity petroleum tankers, due to incessant accidents/deaths involving them in the country.
The NMDPRA proposed a restriction of petroleum tankers capacity to a maximum of 45,000 litres to reduce accidents, explosion and fatalities.
Apart from determining appropriate truck carrying capacity, the NMDPRA had put in place other safety measures, including installation of anti-spill safety valves in tanker trucks, public sensitisation against scooping at accident scenes and regular stakeholders’ meeting, among others.
The regulator is of the view that the noncompliance with the established safety measures led to the recurrence of these accidents.
Mr Othman, however, said the cause of the accidents was not the usage of 60,000 litres tanker capacity, but attributable to the condition of the roads, state of vehicles and the drivers.
He said that 2,000 trucks with 60,000 litres capacity worth N150m each, amounting to N300 billion investments were involved in the transportation of petroleum products nationwide.
Mr Othman explained that some of theo investments were being financed by commercial banks, while some were personal investments of the tanker owners.
He saud, “Every truck owner is an investor and every investment is done with a view to get a return. We have about 2,000 trucks worth about N150 million each, which is about N300 billion. It will not be fair for them to go down the drain; we are trying to see if there is a win-win situation.
“We all are not happy with the recent development that led to loss of lives and we pray that it will not be repeated. It’s a monumental loss, as well as a monumental loss of investments.
“However, as much as we appreciate the concern of the public and government in this respect, we believe that the 60,000 litres tanker capacity is not the cause of the accidents because the weight is on the back axle. In such an accident, people rush to start scooping and in the process of doing that explosion occurs.”
He appealed to the Federal Government to consider a buy-back policy to help the investors, if it wishes to phase out completely the usage of 60,000 litres tanker capacity in the distribution of petroleum products.
Speaking on safety regulations and measures, he said the association ensured compliance by the members and ensured that only licensed drivers who were physically and mentally okay with good health and vision plied the road.
He further said that the association trained and retrained tanker drivers on regular basis, and also ensure that the trucks were inspected twice a year to be road worthy.
He maintained that the habit of scooping the petroleum products at accident scenes resulted in the monumental loss of lives, hence general public enlightenment became very apt.

NARTO
He stated, “If the capacity is reduced to 45,000, the truck cannot have a balance; reducing from 60,000 to 50,000 litres capacity could be fine, but not 45,000 litres capacity. All the 60,000 litres trucks are new, that is why they are able to carry 60,000 litres of petroleum products. Old trucks cannot carry 60,000 litres of products and are phased out because they don’t make any economic sense.
We support the government and also want the government to support our private investments. We are still talking with the Federal Government, and I believe we will resolve the matter amicably.
Economy
U.S. Lawmaker Urges President Tinubu To Remove Matawalle Over Rising Attacks On Christians in Nigeria, Cites Relationship With Bandits
U.S. Lawmaker Urges President Tinubu To Remove Matawalle Over Rising Attacks On Christians in Nigeria, Cites Relationship With Bandits
Relationship with bandits. She urged the U.S. to apply more diplomatic pressure to hold those accused of aiding terrorism accountable.
Kimberly Daniels, a Florida state representative and chairwoman of the United World Congress of Diplomats (UN-WCD), has charged President Bola Tinubu to sack or redeploy the Minister of State for Defence, Bello Matawalle, over rising attacks in the country.
Ms Daniels posted a statement containing her recommendations on tackling insecurity in Nigeria on her Facebook page on Wednesday.
“To The Government of Nigeria: The Results of the Assessment urge President Tinubu to ‘look inward’ and remove elements that compromise national security,” Ms Daniels said.
Ms Daniels’ recommendations specifically included: “Immediate Leadership Review: The removal or redeployment of Minister Bello Matawalle to restore the integrity of the defense ministry.”
She added: “Conducting a transparent investigation into allegations of high-level complicity with banditry to regain the trust of the Nigerian people and implementing more robust security measures for vulnerable communities in the North-Central and Northwestern belts of the country.”

Matawalle
To the U.S. government, Ms Daniels recommended increased “diplomatic pressure to ensure that those accused of aiding terrorism are held accountable.”
“Based on the referenced report, the attacks against believers in Northern Nigeria are allegedly protected by leadership from the inside,” she said.
She added, “The greatest form of terrorism a person can experience is terror that comes from ‘homegrown familiar enemies.’ When the people you trust to protect you work undercover with others who want to harm you, it must be devastating! My brothers and sisters in Nigeria are martyred because they gather to worship Jesus, while most Americans do not understand how precious our religious liberty is and the protections that come with it.”
Bayo Onanuga and Daniel Bwala, spokespersons for Mr Tinubu, have not responded to requests for comment.
Economy
Nigeria, UAE Set To Advance Energy Cooperation: NNPC Ltd
Nigeria, UAE Set To Advance Energy Cooperation: NNPC Ltd
Nigeria and UAE set to advance energy cooperation. Earlier today in Abuja, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, paid a visit to the United Arab Emirates (UAE) Ambassador to Nigeria, H.E. Salem Saeed Al Shamsi, at the UAE Embassy.
The meeting highlighted the existing strong bilateral energy ties between Nigeria and the UAE, with discussions spanning upstream oil and gas investment opportunities, gas development and monetisation, crude oil trading, and infrastructure financing.
Both parties reaffirmed the sustained relations between the two nations, rooted in mutual respect and a shared commitment to long-term energy cooperation.
In his remarks, Engr. Ojulari said as a commercially driven entity, NNPC Ltd. offers a strong portfolio of bankable projects across the entire energy value chain, adding that the company remains open to value-based partnerships with UAE institutions, such as Abu Dhabi National Oil Company (ADNOC), Abu Dhabi Investment Authority (ADIA), and National Petroleum Construction Company (NPCC).

UAE Set To Advance Energy Cooperation
The visit builds on earlier cooperation commitments made by President Bola Ahmed Tinubu and President Mohammed Bin Zayed, as both countries work to translate that intent into concrete, mutually beneficial project outcomes.
Akwa Ibom
Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites
Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites
Governor Umo Eno has expressed satisfaction with the quality and timely delivery of jobs by contractors at different project sites in the State.
Fielding questions from Government House Correspondents shortly after his inspection of the projects, Governor Eno reaffirmed his administration’s commitment towards ensuring that projects are properly monitored and appropriately funded in line with the contract agreement.
He explained that the routine on-the spot inspection avails him the opportunity to carry out critical assessment of key projects, monitor project timeliness, staff welfare, pace and quality of job execution and funding approvals.
“Mine is to make sure that the work is going on, we get our money’s worth, ensure contractors are on site and that they are doing what they are supposed to do.
“This inspection, for me, is to give me an on-the spot assessment, monitor our time lines. Everywhere I went to, I can tell you that I am satisfied at the pace of work, and the quality of work done,” he stated.
The Governor thanked the contractors for their commitment to their jobs, and urged them to keep to timelines and specifications while prioritizing the safety and welfare of staff.
“I belief that the contractors know that we will demand that they do the work according to our specification.
“I am not just checking the work, I also check the staff, to ensure that everything is going on well. So when I get an IPC on my desk, I know exactly what that payment voucher is addressing. All of these works you see me inspect today, I have payment vouchers waiting for me to sign off.
“So, I have to come to see and be sure that they have reached certain levels before we can make the next set of payments.”

Akwa Ibom Governor Eno
Among projects inspected by the Governor were the Aviation Village, Legislators and Executive quarters at Dakkada Luxury Estate, Equipment Leasing Company, and the CNG Bus Terminal.
In the Governors team were the Secretary to the State Government, Prince Enobong Uwah, Executive Assistant/Chief Delivery Advisor, Mr. Aniefiok Johnson, members of the State Executive Council, and other government functionaries.
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