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Buhari unveils new NNPC Ltd, assures Nigerians of energy security
Buhari unveils new NNPC Ltd, assures Nigerians of energy security
President Muhammadu Buhari has unveiled the new Nigerian National Petroleum Company Limited (NNPC Limited), affirming that the company is mandated by law to ensure that Nigeria’s National Energy Security is guaranteed.
Speaking at the historic occasion at State House Conference Centre, the President said Africa’s largest National Oil Company (NOC) would also support sustainable growth across other sectors of the economy as it delivers energy to the world.
At the event, which featured a Special rendition of the Theme Song ”Energy for today, Energy for tomorrow, Energy for Everyone’‘ by an Ensemble, the president recounted how God had used him to consistently play an important role in shaping the destiny of the country’s NOC in the last 45 years.
He expressed optimism that the NNPC Limited would sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and free from institutional regulations such as the Treasury Single Account (TSA).
‘‘This is a landmark event for the Nigerian oil industry.
‘‘Our country places high premium in creating the right atmosphere that supports investment and growth to boost our economy and continue to play an important role in sustaining global energy requirements.
‘‘We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities.
‘‘By chance of history, I was privileged to lead the creation of the Nigerian National Petroleum Corporation on July 1, 1977. Forty-Four (44) years later, I was again privileged to sign the Petroleum Industry Act (PIA) in 2021, heralding the long-awaited reform of our petroleum sector,” he said.
According to him, the provisions of PIA 2021, have given the Nigerian petroleum industry a new impetus, with improved fiscal framework, transparent governance, enhanced regulation and the creation of a commercially-driven and independent National Oil Company.
He said this would enable the company to operate without relying on government funding and free from institutional regulations such as the Treasury Single Account, Public Procurement and Fiscal Responsibility Acts.
‘‘It will, of course, conduct itself under the best international business practice in transparency, governance and commercial viability.
‘‘Coincidentally, I, on the 1st of July 2022 authorized transfer of assets from the Nigerian National Petroleum Corporation to its successor company, the Nigerian National Petroleum Company Limited, and steered the implementation leading to the unveiling of Africa’s largest National Oil Company today.
‘‘I therefore thank Almighty God for choosing me to consistently play an important role in shaping the destiny of our National Oil Company from the good to the great,’’ he added.
The president, therefore, assured stakeholders in the industry that Africa’s largest NOC would adhere to its fundamental corporate values of Integrity, Excellence and Sustainability, while operating as a commercial, independent and viable NOC at par with its peers around the world.
He further stated that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, for the day days after tomorrow.
He thanked the leadership and members of the National Assembly for demonstrating uncommon courage and patriotism in the passage of PIA that culminated in the creation of NNPCL.
Minister of State for Petroleum Resources, Timipre Sylva, said with the signing of the PIA, which assured international and local oil companies of adequate protection for their investments, ”the nation’s petroleum industry is no longer rudderless”.
He said: ‘‘From the onset of this administration, Mr. President never concealed his desire to create a more conducive environment for growth of the oil and gas sector, and addressing legitimate grievances of communities most impacted by extractive industries.
‘‘While the country was waiting for the PIA, Nigeria’s oil and gas industry lost about $50 billion worth of investments.
”In fact, between 2015 and 2019, KPMG states that “only 4 percent of the $70 billion investment inflows into Africa’s oil and gas industry came to Nigeria even though the country is the continent’s biggest producer and the largest reserves.
‘‘We are setting all these woes behind us, and a clear path for the survival and growth of our petroleum industry is now before us.”
Sylva described the unveiling of NNPC Limited as a new dawn in the quest for the growth and development of the Nigerian Oil and Gas Industry, opening new vintages for partnerships.
He thanked the president for his ”unparalleled leadership, steadfastness, and unalloyed support towards ensuring that the country’s oil and gas industry is on a sound footing”.
The Group Chief Executive Officer of NNPC Limited, Mele Kyari, announced that the company had adopted a strategic initiative to achieve the mandate of energy security for the country by rolling out a comprehensive expansion plan to grow its fuel retail presence from 547 to over 1500 outlets within the next six months.
He assured stakeholders and the global energy community that the new company was endowed with the ‘‘best human resources one can find anywhere in the industry.
‘‘NNPC Limited is positioned to lead Africa’s gradual transition to new energy by deepening natural gas production to create low carbon activities and positively change the story of energy poverty at home and around the world.”
Dr. Abigail Adesina Olagbaye, CEO Desigo Tourism Development and Facility Management Company Ltd and founder, Sayari Dunia Sustainable Tourism Foundation, a seasoned tourism practitioner with 23 years of experience (out of which 21 years have been in Tourism), has announced her candidacy for President of the Association of Tourism Practitioners of Nigeria (ATPN), the oldest and premier tourism trade Association in Nigeria.
With a proven track record of driving innovation and sustainable growth, Dr. Olagbaye is poised to transform Nigeria’s tourism landscape.
” Her vision is to re-position ATPN as the leading voice for Nigeria’s tourism development,” Dr. Olagbaye stated. “I’m committed to empowering our members with the training, resources, and networking opportunities they need to excel in their careers and elevate industry standards.”
Dr. Olagbaye’s campaign focuses on five key objectives:
– Strengthening Industry Partnerships: Fostering collaborations and alliances that drive growth and development.
– Capacity Building: Providing training, resources and opportunities to enhance professionalism.
– Advocacy: Amplifying the voice of tourism practitioners in Nigeria and beyond.
– Tourism Promotion: Showcasing Nigeria’s hidden gems both domestically and internationally.
– Improved Member Benefits: Enhancing the overall experience for ATPN members.
Additional initiatives to consider include:
– Faith-based International Conference Tourism: Tapping into the MICE potential of faith-based tourism.
– Medical Tourism: Promoting Nigeria as a hub for medical excellence.
– Sports Tourism: Leveraging sports to drive tourism growth.
– Language Training: Enhancing language skills to improve tourist experiences.
– Youth Tourism: creating opportunities for youths to be actively engaged in Tourism leveraging their potentials, talents and energies and enabling them to benefit from the socio-economic opportunities that tourism offers.
– Agro Tourism: Develop agro-tourism as a sub-sector of Tourism through partnerships and collaboration with the ministry of agriculture to ensure regulatory support, international organisations for cross pollination of ideas and knowledge transfer and capacity building, encourage our members to organise more farm stays, rural tours, food tourism events for more authentic experiences. Advocate for infrastructural development for rural roads and other amenities. Collaborate with locals for sustainability and inclusion.
To further enhance Nigeria’s tourism industry, Dr. Olagbaye plans to create robust social media platforms for the association. This will enable people at home and abroad to access tourism companies in Nigeria with international standard websites and social media focusing on major sites.Social media being an essential tool for promoting tourism.
As the pioneer of initiatives like Africa Tourism Climate Action Forum ATCAF and Africa Tourism Day, a nouveaux initiative in Africa which she started in 2020 in collaboration with the African Tourism Board, now in its 5th edition, Dr. Olagbaye has demonstrated her passion for sustainable tourism practices and her ability to drive meaningful change. “I invite fellow tourism practitioners to join me in transforming Nigeria’s tourism landscape,” she concluded.
Get in touch with Dr. Abigail Olagbaye:
Email: [email protected]
Phone: +2349122525250
Social Media: @abbieolagbaye
@abigailolagbaye
@Dr. Abigail Olagbaye
(Twitter, Instagram, Facebook, LinkedIn)
*Campaign Slogan:* “Transforming Tourism, Empowering Practitioners”.
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The Next Chapter of Amen City: Sade Balogun talks about TIARA Estates & Amen Phase 3 in Lagos, Nigeria
In a move that underscores her commitment to excellence, Sade Balogun, the mastermind behind Redbrick Homes International Limited and Amen City Ltd, has introduced TIARA Estates and Amen Estate Phase 3, expanding the renowned Amen City in a big way!
Situated in the picturesque Ibeju-Lekki area, Amen City has become synonymous with luxury and elegance. The launch of TIARA and TIARA 2.0 by Amen City Ltd soon after Amen Estate Phase 3 is set to elevate this community to new heights.
With its refined homes and superior amenities, the TIARA series embodies royalty and opulence. Amen Phase 3 enhances the living experience with modern architecture and top-tier facilities.
A nearby hospital at Amen Estate Phase 2 offers swift healthcare access, contributing to residents’ peace of mind. This proximity to medical facilities is especially important in emergencies, ensuring that help is always close by.
A large supermarket within the estate provides convenience for everyday shopping, eliminating the need for long trips to distant markets. The presence of excellent schools nearby ensures quality education for children, making it an ideal location for families. The coastal road that reduces travel time to Victoria Island to under 40 minutes makes Amen City a practical choice for professionals who need to commute to the city.
The estate 24-hour light supply from a dedicated turbine engine ensures uninterrupted power, which is a significant benefit for those seeking reliable energy solutions.
Sade Balogun’s innovative vision has transformed Amen City into a model of luxury living and community development. This expansion marks another milestone in her illustrious career, reinforcing Amen City’s status as a premier investment destination. With her ability to foresee market trends and deliver projects that exceed expectations, Sade Balogun continues to set new standards in Nigerian real estate.
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