Oil and Gas
Nigeria’s Oil & Gas Future Hinges on Collaboration and Investment, Says Expert
Tinubu’s Energy Reforms Gets Boost As 120 Lawmakers Back NNPC, NMDPRA
Sahara Weekly Reports That The reforms being implemented by President Bola Tinubu in the oil and gas sector have been backed by 120 members of the National Assembly.
The lawmakers in the House of Representatives are encouraging the Nigerian National Petroleum Company Limited (NNPCL) to continue to embark on measures that will boost the fortunes of Nigeria through the energy sector.
The lawmakers said this in a statement issued on Friday titled, ‘NNPCL: A Call For Caution.’
Some of the 120 lawmakers that are backing the reforms are Hon. lbori-Suenu Erhiatake, Hon. Martins Esin, Hon. Leko Jafaru Gambo, Hon. Amobi Godwin Ogah, Hon. Abdullahi M. Gwarzo, Hon. Danladi S. Aguye, Hon. Afuape Afolabi Moruf, and Hon. Aliyu Wakili Boya.
Others are Hon. Olaide L.M, Hon. Offiono Godwin, Hon. Akintunde Rotimi, Hon. Odimayo Okunjimi, Hon. Muhammad Isa Anka, Hon. Clement Jimbo, Hon. Yakubu A. Danmailiki, Hon. Oshun Moshood O, and Hon. Fayinka Oluwatoyin, among others.
The lawmaker under the umbrella body of ‘1 Agenda’ distanced themselves from a recent publication attributable to a member, which calls for the resignation of the Group Chief Executive Officer of the NNPCL, Mele Kyari and the Authority Chief Executive of the Nigerian Midestream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk
They urged NNPC Ltd to continue to implement initiatives that would guarantee the country’s self-sufficiency in oil and gas production.
They recalled a recent publication attributable to a member, which called for the resignation of the GCEO of the NNPCL and the ACE of the NMDPRA and clarified that the statement reflects a personal opinion and not the position of the House of Representatives.
The ‘1 Agenda’ group of lawmakers said that the GCEO is entitled to a fair hearing, and the House has responsibly constituted a committee to investigate the activities of NNPCL.
This, they noted, is not only right but a constitutional entitlement, noting that any call for resignation at this stage is both unnecessary and premature.
The statement reads, “1 AGENDA has noted a recent publication attributable to a member, which calls for the resignation of the GCEO of the Nigerian National Petroleum Company Limited (NNPCL) and the ACE of the Nigerian Midestream and Downstream Petroleum Regulatory Authority (NMDPRA).
“We want to clarify that this statement reflects a personal opinion and not the position of the House of Representatives.
As members of 1 AGENDA, we wish to state the following unequivocally: The GCEO is entitled to a fair hearing, and the House has responsibly constituted a committee to investigate the activities of NNPCL This is not only right but a constitutional entitlement
“Therefore, any call for resignation at this stage is both unnecessary and premature. However, the NNPCL is encouraged to embark on measures that will boost its fortunes and guarantee the country’s self-sufficiency in oil and gas production.
“We urge the general public to disregard the publication in question and to support President Bola Anmed Tinubu’s efforts to reform the oil and gas sector for the benefit of all Nigerians.”
Primate Ayodele’s Prophecy Fulfilled As Mali Junta Postpones Presidential Election
Sahara Weekly Reports That The presidential election planned for February in the military-ruled West African state of Mali has to be postponed “for technical reasons”, the transitional government announced on Monday.
The junta cited the updating of the electoral roll and problems with a census database following a dispute with the operating company as reasons.
This is another fulfillment of Primate Ayodele’s prophecy which he shared last year in a popular newspaper.
According to the prophet, the transition to civilian government will not be realistic in Mali. He made it known that there will be a crisis in the country and that the country will be sanctioned.
These were his words
“Another crisis will upturn the present transition in Mali, 18 months is not realistic and the country will face a major sanction, the leader should watch out for his health.”
(https://theeagleonline.com.ng/primate-ayodele-releases-fresh-prophecies-for-13-african-countries/)
The announcement by the military junta to postpone the election has confirmed the prophecy of Primate Ayodele.
Primate Ayodele has a record of fulfilled prophecies globally and Mali is one of the countries where he has been celebrated for foretelling significant events that has taken place there. It would be recalled that the military coup that ousted the civilian government was foretold by Primate Ayodele long before it happened.
When the junta leader, Colonel Assimi Goïta got into power, Primate Ayodele warned him to be careful of his movement as he foresees an assassination attempt on his life. This came to pass in 2021 when He was stabbed while praying in the mosque.
It would also be recalled that the Junta survived an attempted coup in 2022. This was also foretold by Primate Ayodele beforehand as he warned Colonel Goita to be careful because there will be attempts to destabilize his government.
These were his words
“The new Mali president will be working under serious pressure just for him not to extend his tenure, He will want to do better but let them pray against troubles, turmoil and attack. The president must watch his movement because rebels will want to destabilize his government. The junta of the military will need to call for the support of the international community,’’
There is still more to be heard concerning Mali from the global prophet and whether or not democracy will return to the country, Primate Ayodele will reveal in the coming days.
“What Government Must Do To Make Petrol Price Reduce By N70/ltr”– Marketers Reveal
Sahara Weekly Reports That The Oil marketers have said local refining will save at least N70 per litre off petrol price when it is fully operational.
The National Controller Operations, the Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, said this while speaking on the benefits of the Federal Government investing in functional refineries.
He told The PUNCH on Wednesday, that although the contracts for revamping of refineries had been awarded, it would be a great development for repairs to be completed as soon as possible, to ease the stress and huge finance of importation on the country.
He said, “The contract has been awarded already before the new government came into office. IPMAN doesn’t know the context of the contract, but if the refineries are working, it would cut freight and ship-to-ship transfer costs.
“Not less than N60/N70 per litre will be off if the refineries start working.”
He listed other benefits ofthe operational local refining as the reduction in insurance costs, reduction in product delivery time, and increase in employment.
According to him, “Cost of insurance would reduce, and then if we keep importing, it takes about 30 days for ships to arrive in Nigeria and we would have to pay for hiring the vessel.
“But if we refine in the country, products would arrive within one day. There will also be more jobs for the masses. It’s a lot of benefits.”
A former Chairman of the Major Oil Marketers Association of Nigeria and Chairman/Chief Executive of 11 Plc, Tunji Oyebanji, said marketers did not prefer product importation over local production.
“We want local refineries to work because we don’t enjoy importing,” he said.
Nigeria still relied heavily on petrol importation due to a lack of functional local refineries.
Since the removal of subsidies on May 29, prices of petrol had shot up tremendously, rising from about N198/N200 per litre to N617 per litre.
Local consumption has since dropped by 30 per cent from 66 million litres per day recorded before subsidies removal.
National President, of IPMAN, Chinedu Oknokwo, during the House of Representatives Public Hearing held on Tuesday, said in proffering solutions to the animated social problems of pump price increase of petroleum products, there was a need to quickly adopt the global alternative clean energy concept of Compressed Natural Gas.
According to him, CNG would help in powering homes, public and official and private establishments with very minimal costs when compared with other costs.
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