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Growth In Oil Sector GDP Contribution Shows NNPC Strategies Working 

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CSOs say oil crooks behind fresh blackmail, smear campaign against Kyari

Growth In Oil Sector GDP Contribution Shows NNPC Strategies Working

 

 

 

Ukpe Philip

 

 

 

 

Sahara Weekly Reports That The strategies adopted by Nigeria’s wealthiest and most profitable company, the Nigerian National Petroleum Company Ltd (NNPCL) to ramp up crude oil production has again proven to be effective after a surprise 3.19 per cent growth in Nigeria’s Gross Domestic Product (GDP) which defied expert projections.

 

 

Growth In Oil Sector GDP Contribution Shows NNPC Strategies Working 

 

 

 

The GDP figures released by the National Bureau of Statistics (NBS) showed that the Crude Petroleum and Natural Gas (oil sector) was the fifth largest contributor to the GDP in the second quarter of 2024, accounting for 5.70 per cent of total GDP which was measured at 3.19 per cent.

 

 

The oil sector is a crucial part of the Nigerian economy and it is evident that the economy driven by growth in the oil sector and service industry is returning to the good old days when Nigeria’s GDP grew sustainably.

 

 

Since 2020, when Nigeria’s economy has slipped into recession, the oil sector has been struggling with negative growths of -8.89 per cent in 2020, -8.30 per cent in 2021 and -19.22 per cent in 2022.

 

 

But the rate of decline decelerated drastically in 2023 to -2.22 per cent in 2023 full year which signalled great relief for the economy and the country is expected to experience a full year growth in the oil sector for the first time since 2019 when the sector recorded 4.59 per cent growth.

 

 

Growth in the oil sector has a huge implication for the Nigerian GDP because the economy is an oil economy. A clear instance is that in 2020, when the sector fell -8.89 per cent, GDP also fell -1.79 per cent.

 

 

The game has changed in 2024 as efforts by the NNPC led by the Group Chief Executive Officer, Mele Kyari, to increase oil production is translating to growth in the sector and, by extension an improved GDP performance.

 

 

In the second quarter of this year, NBS measured average oil production at 1.4 million barrels per day compared to 1.22mbpd production in the corresponding period of 2023.

 

 

According to the NBS, the real growth of the oil sector in Q2 2024 was 10.15 per cent annualised, indicating an increase of 23.58 per cent points relative to the rate recorded in the corresponding quarter of 2023 where negative growth of -13.43 per cent was recorded.

 

 

This drove the sector to contribute 5.70 per cent to the total real GDP in the second quarter of 2024 which is a rise from the figure recorded in the corresponding period of 2023 when the sector accounted for 5.34 per cent of GDP.

 

 

The NBS emphatically said, “The nation in the second quarter of 2024 recorded an average daily oil production of 1.41 million barrels per day higher than the daily average production of 1.22 mbpd recorded in the same quarter of 2023 by 0.19 mbpd.”

 

 

The Petroleum Industry Act (PIA) of 2021 empowers the NNPC to ensure energy security for Nigeria through increased crude oil output among others, and this has huge implications for the economy.

 

 

Nigeria’s journey towards energy security faced great obstacles when crude oil output plummeted to 900,000 barrels per day in late 2022 due to theft, pipeline vandalism, and inadequate metering.

 

 

Consequently, the oil sector equally witnessed -19.22 percent negative growth in 2022 while the GDP growth fell to 3.10 percent compared to 3.40 percent in 2021. This showed a direct correlation between the performance of the oil sector and the GDP.

 

 

To rescue the economy which is largely dependent on oil, Kyari-led NNPC embarked on a massive campaign that united the security agencies, the NNPCL, Nigerian Upstream Petroleum Regulatory Commission and host communities to fight oil theft in the oil-rich Niger Delta.

 

 

The NNPC Ltd also awarded a pipeline surveillance contract to Tantita Security Services, which has led to the arrest of several vessels stealing Nigerian crude.

 

 

In July 2023, Tantita Security Services working in collaboration with NNPC discovered over 60 illegal connections to the trans-Escravos, trans-Forcados, and other major trunk lines by oil bunkDeltaBayelsa states.

 

 

In January 2024, the fight led to the interception of MT Kali, an illegal crude oil vessel loaded with thousands of metric tonnes of crude oil. About 20 crew members, including community collaborators, were arrested.

 

 

Another success was achieved in June 2024 as the NNPC uncovered an additional 165 illegal refineries in various locations across the Niger Delta, while 65 illegal connections were discovered and disconnected in Bayelsa and Rivers States.

 

 

In May, NNPC uncovered 122 illegal refineries at Tomble II, III, IV, Umuajuloke, Rivers State as well as Oporomor III, Eduwini, and Ajatiton in Bayelsa State, all in the Niger Delta region.

 

 

Aside from investments in oil, the NNPC has also shown commitment by investing in critical midstream gas infrastructure such as the Obiafu-Obrikom-Oben (OB3) and the Ajaokuta-Kaduna-Kano gas pipelines to boost domestic gas production and supply for power generation, industrial development and economic prosperity of the country.

 

 

Without a doubt, NNPC’s effort is helping the Nigerian government shake up the economic pressure on the government and different sectors of the economy.

 

 

As of May 2024, crude oil production rose to 1.7mbpd, according to Kyari who linked the rise in oil output to the firm’s fight against crude oil theft and vandalism as well as massive investment in the sector.

 

 

Financial analysts at United Capital Research said that due to improved crude production, net exports are expected to be the primary growth drivers, with rising oil export volumes due to improved security in the Niger Delta.

 

 

“We align with the International Monetary Fund’s (IMF) projection that Nigeria’s real GDP will increase modestly to 3.1 percent in 2024. In the oil sector, the Nigerian economy is set to benefit from favorable developments, offering positive momentum in 2024,” the firm said in a recent report.

Ukpe writes from Abuja

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NEW BPP DG COMMITS TO EFFICIENCY AND STAFF WELFARE FOR IMPACTFUL SERVICE DELIVERY

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NEW BPP DG COMMITS TO EFFICIENCY AND STAFF WELFARE FOR IMPACTFUL SERVICE DELIVERY*

*_…begins review of bureau processes to enhance government procurement systems_*

The Director General of the Bureau of Public Procurement (BPP), Dr Adebowale Adedokun, has outlined his vision to drive efficiency, enhance staff welfare, and reinforce the Bureau’s regulatory mandate in alignment with President Bola Ahmed Tinubu’s renewed hope mandate and his commitment to improving Nigeria’s economy. This was made known during an interactive session with staff of the Bureau at the State House Banquet Hall on November 20, 2024. Dr Adedokun emphasised the urgency of delivering results as well as improving trust in the government procurement system to support President Bola Tinubu’s Renewed Hope Agenda, declaring, “Let us work together to get value for money for Nigeria’s developmental processes and achieve President Tinubu’s mandate of making Nigeria’s economy better.”

Furthermore, in a bid to strengthen operational efficiency, the DG also announced key reforms, including introducing Service Level Agreements for the bureau’s processes ensuring that letters are treated within 3 (three) days, and ensuring reports are completed within 14 (fourteen) days. He also highlighted plans to secure a sustainable budget that would improve the working environment and provide better welfare for staff.

Dr Adedokun firmly stated the Bureau’s resolve to uphold its regulatory integrity under his watch. He warned that officers are prohibited from visiting Ministries, Departments, and Agencies (MDAs) unless on official assignments stressing the need for officers of the Bureau to stay above board. He further declared that contractors are no longer allowed within the Bureau’s premises to ensure that officers can perform their duties without undue interference and influence.

Calling for a collaborative approach, the DG urged staff to embody the Bureau’s regulatory values by adhering to procurement guidelines, avoiding delays, and striving for excellence. “As a regulator, you must be seen to be guided by the procurement process,” he stated. He assured the team of an open-door policy, encouraging innovative ideas that could propel the Bureau to greater heights.

The session also featured a visit from former DG, Engr. Emeka Ezeh, OFR, FNSE, who led the Bureau from 2009 to 2016. Engr. Ezeh commended President Tinubu for appointing Dr Adedokun and urged staff to provide their full support to the new leadership. He encouraged staff to focus on leaving a legacy of excellence, saying, “Work in a way that you will be celebrated wherever you go in life.”

Senior Directors, including Engr. Nasir Bello and Engr. Isaiah Yesufu reiterated the importance of supporting the DG’s vision while emphasizing adherence to the Bureau’s operational guidelines. Staff also welcomed the session, sharing their perspectives on improving the Bureau’s operations and pledging their support for the new leadership.

In a related development, Dr Adedokun sought collaboration with the Presidential Office of Digital Engagement and Strategy (PODES) led by its Head, Mr O’tega Ogra, who is also the Senior Special Assistant to the President on Digital/New Media, during a courtesy visit to his office on November 21, 2024. The DG emphasized the need to enhance the Bureau’s public engagement and visibility in line with the all-of-government communications approach being espoused by the PODES.

Mr Ogra congratulated Dr Adedokun on his appointment and highlighted the key role BPP plays in advancing Nigeria’s development agenda. O’tega further expressed his commitment to collaborating with the Bureau in amplifying its communication efforts and ensuring Nigerians understand and appreciate its critical role in national governance.

Dr Adedokun’s leadership marks a new chapter for the Bureau of Public Procurement, focused on accountability, efficiency, and impactful service delivery. His vision aligns seamlessly with the Federal Government’s goals of economic transformation and sustainable development as well as President Bola Tinubu’s renewed hope agenda.

Janet McDickson
Director, Information & Public Relations/Head, Media-BPP

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Abducted Rivers bizman rescued, suspected robber arrested

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Abducted Rivers bizman rescued, suspected robber arrested

 

The Rivers State Police Command said its men rescued a businessman identified as Julius Madabuchi, who was kidnapped by a four-man gang at a filling station in the Oyigbo Local Government Area of the state.

The police said the man was abducted when the miscreants who were driving in a Black Toyota car stormed the area and started shooting discriminately before executing their plan.

The rescue of the man, the police said, followed a distress call sent to the command control room about the activities of the hoodlums on November 17 and immediately mobilised operatives to the scene, saying the abductors engaged the police in a shootout.

The spokesperson for the state police command, Grace Iringe-Koko, disclosed this in a statement issued in Port Harcourt, Rivers State capital, on Wednesday.

 

The statement reads, “On the 17th of November, 2014, at about 2023hrs, operatives of the command received a distress call from the Room indicating that a gang of armed men numbering about four operating in a Black colour Toyota Corolla car shot sporadically and kidnapped one Madabuchi Julius at Sabbath Filling Station, Oyigbo.

“Operatives were swiftly mobilised to the scene and the hoodlums on sighting the police operatives drove off, but they were given a hot chase by the operatives and subsequently intercepted along Egbu Street, Oyigbo and a gun duel ensued between the operatives and the hoodlums.

“The hoodlums could not withstand the police’s superior firepower and eventually abandoned the victim and their operational vehicle with registration number RIVERS PHC 938 AH and escaped. The victim was rescued unhurt and the vehicle recovered. He has since reunited with his family.”

 

The state police image maker however said an investigation is ongoing while concerted efforts are being intensified to apprehend other fleeing members of the gang and recover their operational weapons.

In a related development, Iringe-Koko said the following day, precisely on Monday, operatives of the command acted on credible information, coordinated a covert operation at the St Lorinta Street, Oyigbo and arrested one Gabriel Morris, aged 25, at Mercy Ground in Kom-Kom, Oyigbo LGA of the State.

The state police spokesperson stated, “During interrogation, the suspect confessed to being a member of a syndicate that had been terrorising Oyigbo and its environs in recent times.

 

Iringe-Koko, a Superintendent of Police, listed items recovered from the suspect including one locally made pistol and a quantity of weeds suspected to be Indian hemp.

She added, “Investigation is ongoing, while concerted efforts are intensified to apprehend other fleeing members of the syndicate.

“This successful operation further demonstrates the effectiveness of the Rivers State Police Command in combating kidnapping and all other forms of crime in the state.”

 

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Celebrate Your Wins, No Matter How Small-Prudent Ludidi

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Those who wronged you may never say "I'm sorry" - Prudent Ludidi

Celebrate Your Wins, No Matter How Small-Prudent Ludidi

 

Today, I want to talk about something incredibly important, yet often overlooked: celebrating our wins. Yes, you heard that right – celebrating our wins, no matter how small.

We live in a world that constantly pushes us to achieve more, be more, and do more. We’re always striving for the next goal, the next milestone, the next achievement. And while ambition is great, it’s equally important to acknowledge and celebrate the small victories along the way.

Think about it. How often do you achieve something amazing, only to dismiss it as “not a big deal” or “just part of your job”? How often do you downplay your successes or attribute them to luck rather than your hard work and dedication?

Here’s the thing: every win, no matter how small, is worth celebrating. Every achievement, no matter how insignificant it may seem, is a testament to your strength, resilience, and determination.

Celebrating your wins does several things. Firstly, it boosts your confidence and self-esteem. When you acknowledge your achievements, you remind yourself of your capabilities and potential.

Secondly, celebrating your wins helps you stay motivated and focused. By recognizing your progress, you’re more likely to stay committed to your goals and keep pushing forward.

Thirdly, celebrating your wins fosters a positive mindset. When you focus on what you’ve achieved, rather than dwelling on what’s still to be done, you cultivate gratitude, happiness, and contentment.

So, how can you start celebrating your wins?

Start small. Write down three things you’ve accomplished each day before bed. Share your achievements with a friend or family member. Treat yourself to something special.

Celebrate the tiny victories: finishing a difficult project, trying a new recipe, or simply making it through a tough day.

Celebrate the milestones: landing a new job, running a marathon, or graduating from college.

And celebrate the moments in between: learning a new skill, making a new connection, or taking a much-needed break.

Remember, celebrating your wins isn’t about being arrogant or boastful. It’s about acknowledging your hard work and dedication. It’s about recognizing your worth and value.

Don’t wait until you’ve achieved something “big” to celebrate. Celebrate every win, no matter how small. Celebrate every achievement, no matter how insignificant it may seem.

You are worthy of recognition. You are worthy of celebration. And you are worthy of acknowledging your own strength and resilience!

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