ATIKU APOLOGIZES TO NIGERIAN TEACHERS, CITING 'FAILED LEADERSHIP' AMID ECONOMIC HARDSHIP. (PHOTO).

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 Atiku Apologizes to Nigerian Teachers, Citing 'Failed Leadership' Amid Economic Hardship Abuja, Nigeria - Former Vice President and Presidential Candidate of the African Democratic Congress, Atiku Abubakar, has issued a heartfelt apology to Nigerian teachers, attributing their current economic plight to what he described as the 'failed leadership' of the nation. In a statement released on Monday by his spokesperson, Abubakar expressed deep concern over the escalating cost of living, which he stated is severely hindering teachers' ability to provide for their families and effectively carry out their crucial educational duties. Abubakar, a staunch advocate for education, took a moment to laud the immense sacrifices made by Nigerian educators. Reflecting on his own formative years, he shared a personal connection to the teaching profession. "Of course, I appreciate Nigerian teachers. I am a product of their work and the education I received in their classrooms,...
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MULTI-BILLION NAIRA MODULAR REFINERIES CAN'T REFINE FUEL DUE TO PRICE REGULATION-NNPC.(PHOTO).

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Multi-billion Naira Modular Refineries Can’t Refine Fuel Due To Price Regulation – NNPC

The Nigerian National Petroleum Company Limited on Wednesday explained that one of the key reasons modular refineries in Nigeria were not producing Premium Motor Spirit, popularly called petrol, was because of the regulated pump price of PMS by government.

A modular refinery is a simplified refinery requiring significantly less capital investment than traditional full-scale refineries. They are crude oil processing facilities with capacities of up to 30,000 barrels per day.

Nigeria has a number of modular refineries in Edo, Delta, Imo and other states, while plans are on to increase the number through private sector investments.

Speaking on the reasons why modular refineries were not producing petrol, during a plenary session at the ongoing Nigeria International Energy Summit 2022 in Abuja, the Group Executive Director, Refining, NNPC, Mustapha Yakubu, said it was due to fuel pump price regulation.

He said, “Some modular refineries should take up to 50,000 barrels per day, but because of financing you can start with 10,000 barrels and then scale up gradually to 50,000 barrels.

“What do you need to do to produce PMS? It is to put additional investment that will put in the cracker required to produce the PMS. But in this period why they (modular refineries) cannot produce PMS is because we are under full regulation.

“So to me, if they produce PMS today, at what cost are they going to produce it and at what cost are they going to sell under this regulated environment?”


 

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