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Nigeria’s National Petroleum Company Indicted for Poor Record-Keeping of Crude Oil Deliveries



NNPC - Investors King

The Nigerian Senate has indicted the Nigeria National Petroleum Company Limited for poor record-keeping of crude oil deliveries to Warri Refinery and Petrochemical Company and Kaduna Refinery and Petrochemical Company worth $376,655,589 (N102.6bn).

The indictment was based on the 2016 Auditor General report submitted and presented by Senator Mathew Uhroghide, which was upheld during the plenary session.

Apart from the NNPC, 35 other agencies, including the Office of Accountant General of the Federation, National Population Commission, National Agency for the Control of Aids, FCT Area Council Service Commission, Ministry of Defence, Ministry of Justice, National Drug Law Enforcement Agency, among others, were also indicted for violation of financial procedures in the country.

The report revealed that several deliveries were stated to be jointly lifted by or delivered to Warri Refinery and Petrochemical Company and Kaduna Refinery and Petrochemical Company without necessary details or breakdown of what was delivered to respective companies. This makes it difficult to reconcile and account for each lifting.

As a result, the Senate has asked the Group Managing Director of NNPC, Mele Kyari, to ensure specific details of crude delivered to the two refineries for audit. The report of the indictment will also be submitted to the Office of Secretary to the Government of Federation for further action.

In addition, the lawmakers also considered a bill that will enforce the implementation of the outcome of the auditor general report submitted to the National Assembly for consideration.

The poor record-keeping of the NNPC is a major concern for the Nigerian government, as it leads to a lack of transparency and accountability in the oil industry. The NNPC needs to take measures to address this issue and ensure that proper record-keeping is maintained to prevent future indictments. The Nigerian government also needs to enforce strict financial procedures to prevent agencies from violating financial procedures in the country.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq,, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Unveiling Nigeria’s President-Elect: Bola Ahmed Tinubu



Bola Tinubu

Nigeria’s political landscape has always been dynamic and full of intrigue. As the most populous country in Africa, Nigeria plays a pivotal role in shaping the continent’s future.

In this article, we delve into the life, achievements, and political journey of Bola Ahmed Tinubu, who has emerged as the President-Elect of Nigeria. Join us as we explore the story behind this influential figure and what his presidency might mean for the nation.

Early Life and Background

Bola Ahmed Tinubu was born on March 29, 1952, in Lagos State, Nigeria. His humble beginnings in the city’s Mushin neighborhood laid the foundation for his remarkable rise in politics. Tinubu obtained his primary and secondary education in Lagos before traveling to the United States to further his studies. He attended Richard J. Daley College in Chicago, Illinois, and later earned a Bachelor of Science degree in Accounting from Chicago State University.

Political Career

Upon his return to Nigeria, Tinubu plunged into politics, driven by a desire to contribute to his country’s development. In 1992, he was elected to the Nigerian Senate, representing the Lagos West constituency. His commitment to the welfare of the people and his astute political acumen quickly gained him recognition within his party, the Social Democratic Party (SDP).

Tinubu’s political career took a significant turn in 1999 when Nigeria transitioned to democracy. He co-founded the Alliance for Democracy (AD) and successfully campaigned for the position of Governor of Lagos State. Under his leadership, Lagos witnessed significant transformations, including improvements in infrastructure, education, healthcare, and public transportation.

Political Influence and Legacy

Often referred to as the “Jagaban,” a Yoruba term meaning “leader of warriors,” Tinubu is widely recognized for his political influence and strategic maneuvering. His ability to forge alliances and build formidable political structures has made him a force to be reckoned with in Nigerian politics.

Tinubu’s impact extends beyond Lagos State. He played a pivotal role in the formation of the All Progressives Congress (APC), a coalition of opposition parties that brought about the defeat of the incumbent party in the 2015 presidential election. This victory marked a historic shift in Nigerian politics and laid the groundwork for his own presidential aspirations.

President-Elect and Future Prospects

After a closely contested presidential primary within the APC, Bola Ahmed Tinubu emerged as the party’s presidential candidate for the 2023 general elections. Riding on a wave of support from his loyal followers and a reputation for effective governance, Tinubu successfully won the hearts of Nigerians across different regions.

As Nigeria’s President-Elect, Tinubu faces the monumental task of steering the country toward progress and unity. His track record as a visionary leader and his experience in governance position him to tackle the nation’s challenges, including economic development, security, infrastructure, and social welfare.


Bola Ahmed Tinubu’s journey from humble beginnings to becoming Nigeria’s President-Elect is a testament to his resilience, political acumen, and commitment to public service. With his impending presidency, Nigerians have high expectations for the transformational change he can bring to the nation.

As Tinubu assumes office, the eyes of the nation and the international community will be on him. Nigeria, with its vast resources and diverse population, is at a crucial crossroads. The hope is that under Tinubu’s leadership, the nation will experience inclusive growth, strengthened institutions, and a brighter future for all Nigerians.

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Ukraine’s Zelenskiy Takes Center Stage at G7 Summit to Confront Russian Invasion



President Volodymyr Zelenskiy of Ukraine has stepped into the spotlight at the Group of Seven (G7) summit in a determined effort to address the ongoing Russian invasion of his country. With the world’s most powerful democracies gathered here, Zelenskiy aims to rally international support and devise strategies to counter Russia’s aggression.

The choice of Hiroshima as the summit’s location carries profound symbolism, reminding the attendees of the devastating consequences of nuclear conflict. Against this backdrop, Western governments are increasingly alarmed by the nuclear threat posed by Russia. Zelenskiy’s presence at the summit, representing a nation that is facing a perilous situation, emphasizes the urgent need for action.

Upon his arrival, Zelenskiy, wearing his characteristic olive green fatigues, wasted no time and swiftly disembarked a French government aircraft. Japanese broadcasters captured the moment as he swiftly made his way to a waiting car, illustrating the sense of purpose with which he has approached this gathering.

Using social media, Zelenskiy expressed the significance of the meetings in Japan, tweeting, “Japan. G7. Important meetings with partners and friends of Ukraine.” His message underlines the importance of forging alliances and securing support from G7 leaders, as well as other influential countries.

French and European officials have stressed the importance of Zelenskiy’s personal presence at both the Arab League and G7 summits, particularly given the attendance of Global South members. They believe that Zelenskiy’s firsthand account of Ukraine’s victimhood in the face of Russian aggression will provide critical insights for shaping a peaceful future settlement.

“We have to use all means to bind non-aligned states to the cause of defending Ukraine’s sovereignty and territorial integrity,” stated a French presidential official during a press briefing, emphasizing the urgency of garnering broad international support.

During the G7 summit, Zelenskiy is scheduled to hold bilateral meetings with leaders from the G7 countries. Significantly, he will also meet with the leaders of India and Brazil, two nations that have not distanced themselves from Moscow. These meetings hold immense importance in mobilizing global solidarity and building a united front against Russian aggression.

Tomorrow, Zelenskiy is set to participate in a dedicated session with the G7 leaders, followed by a broader session with Global South attendees. These discussions will shape the collective response to Russia’s invasion and strengthen alliances in addressing global security concerns.

The G7 summit in Hiroshima serves as a crucial platform for Zelenskiy to amplify Ukraine’s plight and rally support against Russian aggression. The international community’s response to this crisis will not only determine the future of Ukraine but also have broader implications for global peace and stability. As Zelenskiy takes center stage, all eyes are on the outcomes of the summit and the actions that will follow.

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Sanusi Lamido Sanusi Claims Nigeria Is Worse Off Without Vice President Osinbajo As President



Former Emir of Kano, Sanusi Lamido Sanusi, has stated that Nigeria has missed out by not electing Vice President Yemi Osinbajo as its President.

Speaking at the book launch titled “Osinbajo Strides: Defining Moments of an Innovative Leader” on Monday, Sanusi lamented that Nigeria is worse off because of the failure of the political system to make Osinbajo the President.

Sanusi, who is also a former governor of the Central Bank of Nigeria, praised Osinbajo’s willingness to debate any matter and yield superior argument.

He noted that Osinbajo’s leadership qualities were essential for Nigeria’s progress and development.

He said, “I dare say, we all agree that Nigeria is worse off for not having someone like him (Osinbajo) as President, but I do hope that he will be available to serve and to advise and to put in his best for the country and continue to do.”

Sanusi expressed confidence that Osinbajo will still play a critical leadership role in Nigeria’s future. He added, “Maybe we’ll still be lucky to have him lead us at some point or take some leadership role as a statesman.”

Recall that Osinbajo contested for the All Progressives Congress (APC) presidential primaries in 2022 against the President-elect, Asiwaju Bola Tinubu, and former Minister of Transportation, Rotimi Amaechi.

However, he lost the primaries to Tinubu, who emerged as the party’s flagbearer and won the presidential election held on February 25th.

Despite losing out to Tinubu, Osinbajo remains a prominent figure in Nigerian politics, with many people lauding his leadership qualities and innovative ideas.

Sanusi’s endorsement of Osinbajo as a critical player in Nigeria’s future leadership will further cement the Vice President’s place as a potential future leader of the country.

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