Tag Archives: Terminates

Buhari Terminates NNPC Crude Swap Deals

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President Muhammadu Buhari yesterday stepped up the ongoing reforms in the oil industry with the cancellation of offshore processing and crude swap deals for refined products between Nigeria and oil merchants.

The decision was disclosed yesterday in Abuja by the President’s spokesman, Mr. Femi Adesina. The deals, initiated in January by Buhari’s predecessor, Dr. Goodluck Jonathan, were designed to supply gasoline for crude as the country depends on imports for the bulk of its domestic consumption.

In an effort to end the endemic shortage of gasoline in Nigerian filling stations, the last administration allocated 210,000 barrels per day of crude to swap for products in 2015.

NNPC said President Buhari cancelled contracts for roughly half of the 445,000 barrels per day of crude earmarked for Nigeria’s refineries, the amount refiners’ use in the products swaps deals.

“Mr. President has approved the cancellation of the oil swap contracts. He has publicly expressed his displeasure over this oil swap deal.

“The government may not have completely dumped the idea of swaps but the aim is to re-evaluate the whole contracts terminated to extract some favourable terms,” he said.

Read More: nigerianpilot

There Will Be No Peace If Buhari Terminates Our Pipeline Contract- Gen. Boyloaf

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Ebikabowei Victor Ben, a.k.a General Boyloaf former Niger Delta militsnt said there’ll be no peace if Muhammadu Buhari terminates the pipeline contract given to ex-militants.

Boyloaf made the comment during an interview session with PREMIUM TIMES when asked if he was afraid Buhari will terminate the pipeline contract.

The former militant leader said, ”Well, to me I am not afraid of anything. I am fully confident and if they terminate it the better for us because we will know that the government doesn’t want peace. So, that’s my own belief. I’m not afraid of anything. We will be ready to work with any person that has the Niger Delta people at heart. If you come with good ideas I think we will also work with you”.

On rumours that Buhari may scrap the Niger Delta amnesty programme he said,

”There is one thing you need to know. Let me tell you something – the production this time around compared to some years back is increasing and the amnesty is something that has come to stay.And if the government wants to scrap the amnesty it means the government doesn’t mean well for the nation. That’s my own belief. Let me tell you something – people were also inciting others that the government wants to scrap the amnesty. I have been in the Niger Delta trying to pacify them and telling them that it is a lie and that the government will work with them. They wanted to start destruction. There is no way that you will come out and say you will scrap the amnesty.How many people can you kill? How many? The Niger Delta terrain is very different and our struggle is very sacrosanct. That is one thing you get. So you cannot kill everybody. Look at Boko Haram – their area is a desert and it is easy for vehicles to move.When you talk about our area it is not a desert. It is not passable by vehicle but strictly on water and by the time you use your chopper in the night and come and finish and go, what will happen in the night? All these are just sycophants that don’t mean well for this nation. With what I have seen in Buhari, he will want peace. That is my belief”.

On whether or not he and his boys will return to the Creeks, Boyloaf said, ”Time shall tell”.

Credit: nigerianbulletin