IMO BREAKING NEWS BLOG

The Nigerian National Petroleum Company Limited (NNPCL) has said the fire outbreak that started on a dry crude storage barge at Cawthorne Channel 1 in Rivers State has been successfully contained.

In a statement on Thursday, NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the incident did not affect the operations of the flow station in the area. “Thanks to the swift response of our emergency teams and industry partners, the fire was successfully contained. The incident did not impact flow station operations,” he said.

According to Soneye, no lives were lost in the incident. NNPCL spokesman also assured the public of its commitment to safety, environmental protection, and operational integrity. “Most importantly, there were no casualties, and all personnel are safe. NNPC Ltd. prioritises safety and remains fully committed to environmental protection and operational integrity,” Soneye stated.

The fire, which broke out at around 2:10 p.m. on Wednesday, began on the BESTAF5 barge and spread to other barges in the area. The Cawthorne Channel is a major hub for oil and gas facilities, situated near the boundary between Bonny and Degema Local Government Areas in Rivers State.

However, quick action by emergency teams and industry partners prevented further damage. Authorities are expected to investigate the cause of the fire. 

By Ikenna ONUOHA, Ph.D.

There is an unfolding societal problem that is tactically but gradually destroying futures  and destinies of our youths today. The quest for money is indeed the bane of evil. Sudden billionaires that trended in the last 10 years are no more today, yet our youths are patronizing the evil ways that are capable of shortening their lives! Too bad!!

The quest for money has triggered kidnapping, ritual, armed robbery and killing. This is different from what our forefathers witnessed during their time on earth.

This current trend of "Okeite", the "great pot" can be likened to that dangerous, and notorious "Ara Nwanyi Asaba" saga in the last two decades that almost wiped the youths away from the surface of the earth.

During this period of "Ara Nwanyi Asaba" epistle, interested billionaires were enticed with spreading of clean cash at events by purveyors of the evil debacle. Those attracted to the event of the day were led to Asaba, the capital of Delta State to "suck" the evil breast and thereafter, become wealthy. This actually happened to the interested participants but their lives were snatched by the evil marchants after 2, 3 or 4 years of the transient wealth.

How these purveyors and promoters of the evil money killer do it is what should be unravelled and security agencies are currently on it.

A situation where a child of 16 to 19 years is seen driving different exotic cars, which each of them is not less than 50 million is a style that should be consciously and unconsciously nip in the bud.

This trend of "Okeite" and the defunct "Ara Nwanyi Asaba" ended up killing some of the beneficiaries of the quick wealth after the affluence was enjoyed for just few years. The gift of devil is "give and take", note that the devil does not give without expecting heavily from the beneficiaries.

This practice of get rich quick syndrome is at variance with the custom and tradition of the Igbo race. Why this practice thrive is because some villagers, parents of the beneficiaries and traditional Rulers in various communities including religious leaders give credence, applause, undue recognition and high ovations to these "successful" youths seen cruising in billions with mansions scattered everywhere..

Regretably, on sighting the young idle billionaire, some highly rated monarchs send emissaries to entice the billionaires to accept Chieftaincy Titles. This is to cover up the negative channels through which the ill-gotten wealth was derived.

In the cause of getting rich quick, parents, brothers, sisters, relatives, girl friends, boy friends and the youths have been killed, dismembered and used for rituals. Innocent people are missing on daily basis without trace of their locations simply because someone wants to answer "Agunechemba", Arusi Eji Aka Abuo Apa", "Ahaejiagamba" and so on!

This is vanity upon vanity! It is painful that big names we heard in the last one, two or three decades with raw wealth attach to them are no more today. Reason being that such quick wealth had expiry date, and such expiry date carries grave consequences.

Very pathetic that as a result of the quest to get rich quick through "Okeite or Ara Nwanyi Asaba", some ladies have lost their lives to their supposed suitors, fiancees, boy friends or even husbands, yet those alive, are still fallen to their net. 

Such ladies killed become vulnerable to their suitors, fiancees, boy friends or husbands once the guy begins to pour huge wealth on the ladies. This is because ladies become more glued to guys that spend heavily on them not minding the consequences thereafter.

The immorality today in the society has destroyed the sanctity of morality. There is open confrontation of disrespect to the elders. Little brats no longer accord due recognition to the elders and titled men simply because, the honour and recognition in the transient wealth has decapitated the sense organs of humility.

Badly, this trend of evil is tactically promoted by these elders and titled men still expecting respect and recognition from the little billionaires. A situation where a supposed elder disrespect his fellow elder to recognize the little billionaire is the trigger of the whole social decadence. Things must changed when our Royal fathers, Religious leaders and politicians join hands to restore social sanity.

By so doing, we shall be expecting the society of our collective dreams!

The Nigeria Customs Service (NCS) has confiscated a substantial quantity of smuggled petroleum in the first month of 2025. During a series of operations across border towns in Kwara State, customs officials seized 800 jerry cans of 25 litres each, along with a truck carrying 33,000 litres of petrol. The total estimated value of the seized fuel stands at N53 million.

Comptroller General of Customs, Bashir Adeniyi, revealed this during a familiarization tour of the Kwara State command in Ilorin on February 17, 2025. He stated that the interceptions, which took place between mid-January and February 15, occurred in various locations, including Baruten, Kaiama forest, Ilesha-Baruba, and Gure border towns.

“This operation is part of our intensified efforts to combat smuggling nationwide,” Adeniyi stated. “The Kwara border with Benin Republic remains a key focus area, and we are deploying senior officers to enhance surveillance and enforcement.”

Adeniyi also highlighted the achievements of Operation Whirlwind, an ongoing anti-smuggling initiative. Key outcomes include the closure of 12 illegal fuel retail outlets, the seizure of 460,000 litres of Premium Motor Spirit (PMS) intended for smuggling, and the confiscation of 23 smuggling vehicles and over 8,000 kegs of PMS. Additionally, seven suspects have been arrested, and three marketers are currently facing prosecution for regulatory violations.

Addressing the growing sophistication of fuel smuggling networks, Adeniyi pointed out that despite the removal of fuel subsidies, price differences between Nigeria and its neighboring countries continue to drive illegal fuel trade. “While petrol prices in Nigeria hover around N1,000 per litre, the cost in Benin Republic and Cameroon is much higher—approximately N1,700 and N2,000, respectively. This price gap fuels cross-border smuggling,” he explained.

The Customs chief urged stronger collaboration in tackling smuggling and warned those involved to desist or face strict legal consequences. 

A potential crisis is brewing in Ogoni, Rivers State, following the alleged exclusion of the Movement for the Survival of the Ogoni People (MOSOP) from ongoing consultations regarding oil exploration.

MOSOP President, Fegalo Nsuke, warned that neglecting the group’s input could spark unrest reminiscent of the 1990s crisis in the oil-rich region. While urging Ogoni people to maintain peace, he assured them that the issues surrounding oil resumption would be resolved for the benefit of both the people and the Federal Government.

Speaking at a meeting with MOSOP kingdom coordinators in Bori, Nsuke criticized the Federal Government’s approach, stating it contradicts President Bola Ahmed Tinubu’s directive for an inclusive process. He accused certain individuals of prioritizing personal gain over the interests of the Ogoni people and misleading the president.

“The president directed consultations with all stakeholders, but instead, some are manipulating the process for selfish reasons. We seek development, not conflict, and we trust that a democrat like Tinubu will not allow another era of Ogoni killings,” Nsuke stated.

He emphasized that MOSOP, which played a key role in the fight against Shell’s operations in Ogoni, must not be sidelined in discussions about oil resumption. He called on President Tinubu to intervene and ensure an inclusive and transparent process that restores trust among the people. 

The Nigerian Exchange Limited (NGX) has announced the listing of a N368.31 billion Federal Government of Nigeria (FGN) bond.

The 10-year bond, carrying a 22.60% coupon rate, was officially listed on Tuesday, February 18, 2025. Designated as 22.60% FGN JAN 2035, it has been assigned the symbol FG212035S1 and ISIN NGFG21203518. The bond matures on January 29, 2035, with semi-annual coupon payments scheduled for January 29 and July 29.

In addition to the new listing, NGX has also announced supplementary listings for two existing FGN bonds. The 19.30% FGN APR 2029 bond saw an increase of 78.86 million units, raising the total outstanding units to 463.16 million. Similarly, the 18.50% FGN FEB 2031 bond was increased by 153.87 million units, bringing the total to 2.11 billion outstanding units.

NGX stated that these listings aim to strengthen Nigeria’s capital market by expanding investment opportunities and boosting trading activity. The Exchange emphasized that the listing of the new FGN bond aligns with its commitment to supporting government financing initiatives while offering investors diverse options in the bond market. 

The Abia State government has announced plans to launch a major crackdown on the production and distribution of fake drugs and beverages in the state.

This follows last week’s operation by the National Agency for Food and Drug Administration and Control (NAFDAC), which sealed off buildings in Osisioma LGA used for repackaging expired drugs.

Speaking after this week’s executive council meeting chaired by Governor Alex Otti, the Commissioner for Information, Okey Kanu, issued a stern warning to those involved in the illegal trade, urging them to desist from such harmful activities, which he said were tarnishing the state’s reputation.

He emphasized that the government, with the help of security agencies, would intensify enforcement efforts to eradicate the sale of counterfeit products.

Additionally, Kanu announced that illegal traders in Umuahia would be relocated to the Okwulaga Afara relief market, where construction has already begun after compensation was paid to landowners.