By Emmanuella Anokam

The Federal Government has tasked investors in the country to utilise the Nigerian Content Development and Monitoring Board (NCDMB) intervention funds for the purpose they were meant for.

Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), made this known on Thursday during a facility tour of Amal Tech Limited, located at Idu Industrial Layout, Abuja.

The News Agency of Nigeria (NAN) reports that the minister who was on the tour with some officials of the ministry was conducted round the company’s facility by its Chief Executive Officer, Mr Shehu Abdullahi.

Lokpobiri, who was proud of the company’s proficiency, expressed commitment towards strengthening its partnership with the NCDMB because of the value it had added to the Nigerian economy.

“I use this opportunity to tell other people who are in partnership with NCDMB to use the funds that they have been able to get at single digit for the purpose the investments were made.

“It is surprising to hear that between the investments and the loans, the NCDMB in the last few years has spent over half a billion dollars,’’ he said.

The minister, who was amazed that Amal Tech Ltd. got the least amount in terms of what NCDMB invested, promised to grant the company any support it needed for showing capacity in managing funds and creating value.

He thanked the Amal CEO for choosing to domesticate his knowledge/expertise in different sectors of the economy to create employment, contrary to some Nigerians who chose to take their expertise outside.

“As rightly said, this company started with a small idea of a smoke and leak detector production, and now you have expanded to manufacturing meters, Point of Sale (POS) machines and pipeline cellulose.

“I believe that in the next few years, you will do amazing things. The least we can do is to strengthen our support for you, so that you can do more, not just for the Nigerian economy but for the entire world,’’ he said.

The minister also promised to work with the company to spur more engagements, particularly by deploying its technology on the pipeline surveillance to assist in curbing oil theft.

Lokpobiri said that its facility and services would be strategic to achieve the objective of reducing the infractions on the pipelines which was affecting the country’s overall production.

“We have the capacity to produce 2 million barrels per day (bpd) or more and it is our ambition to ensure that we do 2mbpd or more by the end of 2024.”

The minister expressed delight that as a serving senator in 2010, he was among those who basically conceived and passed the bill for the NCDMB to be created to support local industries.

He promised to assist the company to market its products and services in the West African sub region and in other locations where Nigeria’s affiliations reached such as the African Petroleum Producers Organisation (APPO).

Abdullahi, while responding, thanked the minister for the financial support his company had received.

He said that the gesture demonstrated the government’s willingness to drive local content for the good of the economy.

Abdullahi said that he was looking forward to more partnership as promised by the minister.

He said the company which was commissioned in 2023 rely solely on local resources for its production to enhance local content, give value to the Nigerian market and save money for the Nigerian economy to thrive.

Among its technologies include a wireless alarm transmission, a technology driven approach to pipeline monitoring and GIS-Based Pipeline Monitoring which allows for the visualisation of pipeline routes and potential issues on a map with clear overview.

Others are Operator Training Simulation, Drone Monitoring and Surveillance for aerial views of the pipelines especially in remote areas, Control and Command System and Distribution, Acoustic Sensing and Seismic Technology and Sensor Integration.

The products also include pipeline monitoring components, three-in-one devices with Wi-Fi, gas leak and smoke detector, smart metres, water heater, fire alarm panel and POS machines that accept payment offline with other functionalities, among others. (NAN)(www.nannews.ng)

Edited by Emmanuel Afonne

By Emmanuella Anokam

The Federal Government has reiterated commitment to meet the September deadline set out for the commencement of the African Energy Bank (AEB).

Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), gave the assurance on Wednesday in Abuja when Dr Omar Ibrahim, Secretary-General, African Petroleum Producers’ Organisation (APPO) visited him.

The News Agency of Nigeria (NAN) reports that Nigeria, on July 4, was granted the hosting right for the Africa Energy Bank after beating Ghana, Benin Republic, Algeria, South Africa and Cote D’Ivoire in a keenly contested bidding.

To ensure the bank’s operationalisation, APPO Secretary-General called on African oil-producing member countries to contribute their subscription fees of 83 million dollars, aiming for the bank’s inauguration in September 2024.

Lokpobiri said it was working assiduously to resolve the issues bordering on the host country agreement, the headquarters building and the balance of the subscription.

“We are working very seriously to fulfill all the things we have signed up to do before the end of September, so that the bank can actually start off.

“We want to emphatically state that Nigeria is committed to meeting her obligations as a host country. We are working day and night to ensure that we meet the September deadline,” he said.

He said the Permanent Secretary of the ministry, Amb. Nicholas Ella, and him, had been meeting daily, while the permanent secretary had been spearheading the technical team to ensure that everything was done within the time frame.

He commended Ibrahim for the excellent job he had done for APPO, adding that since his assumption as the Secretary-General, APPO had been rebranded and grown exponentially to its current level.

“And we Nigerian are very proud of you, not just as our ambassador, but as an ambassador of Africa.

“Anytime you speak, the rest of the world listens because of your depth of knowledge and the way you have been rated globally as far as the energy community is concerned,” he said.

The minister, while urging him to join in building the bank to a strong level before exiting as the Secretary-General, said he supported all the countries, though criteria was clearly spelt out but Nigeria won squarely.

Earlier, the Secretary-General, who was on his first visit to Nigeria after it won the AEB hosting right, commended the ministry for its efforts toward the establishment of the Bank, an initiative of the APPO and Afreximbank.

“There are issues. One is the host country agreement, second is the headquarters preparing it and the third is to make up the difference between what Nigeria pledged and what Nigeria has paid so far.

“Everybody is looking up to Nigeria. Ministers of other countries are asking me, when are you moving? When are we starting,” he said.

He then appealed to the Federal Government to conform with its promise to APPO which informed the decision to give Nigeria the hosting right.

“As a Nigerian, I am very happy, pleased and very proud of what you have done. I want to make it very clear, Nigeria won and won fair and square.

“And I want to say that really Nigeria should be proud of its team in APPO, the minister, the permanent secretary and consultants.

“You have earned the respect of your colleagues. And I want this to be sustained,” he said. (NAN)(www.nannews.ng)

Edited by Vivian Ihechu

By Emmanuella Anokam

The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), has advised the Dangote Refinery and Petrochemicals and other modular refineries in the country to sell refined products to oil marketers in Naira.

The association said that “this is imperative as the refiners will also be getting the crude in Naira”.

Its National President Benneth Korie made this appeal while briefing newsmen on Wednesday in Abuja.

The News Agency of Nigeria (NAN) recalls that President Bola Tinubu recently directed the Nigerian National Petroleum Company Ltd. (NNPCL) to sell crude oil to Dangote and other modular refineries in the country’s currency.

“I also want to express our support for the president’s directive to sell crude oil in naira.

“We hope that our refineries will reciprocate by selling refined products in naira, thus stabilising the market”, he said.

Korie said that to ensure a balanced distribution, the Dangote’s refined products should be made available to a broader range of stakeholders.

He listed the stakeholders as the NNPC Trading, NNPC Retail, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Major Oil Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN).

He included others as the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) and NOGASA.
This inclusivity, according to him, would facilitate sustainable and widespread distribution across the country.

He urged the Federal Government to expedite the commencement of the Port Harcourt Refinery slated for September to alleviate the current shortages and ensure that the products were distributed among the same stakeholders.

He called for the reduction in the price of Automotive Gas Oil — diesel — to lower transportation costs and reduce the price of petroleum products.

“With Dangote’s refinery production and crude oil transactions in naira, we expect a reduction in diesel price.

“NNPC Ltd. should leverage its shares in Dangote’s refinery to drive down these costs, which will lower transportation expenses and reduce market prices”, he said.

On issue of smuggling, he said, there was the need to redesign distribution channels to prevent illegal exportation of petroleum products.

Korie, while explaining that “road constitutes 45 per cent of the delay in the delivery of the petroleum products”, urged the government to improve transportation network.

He advised the government to expand and revamp railways for bulk cargo to enhance logistics.

He also urged the federal, states and local governments to discourage the multiple taxation on the nation’s highways.

On inflation, he urged the government at all levels to prioritise agriculture by making farming more attractive, profitable.

According to him, this can be done by subsidising agricultural inputs and equipment to address public apprehension over rising costs.

“Extension workers should also be deployed to educate farmers on modern techniques such as irrigation and fumigation,” he said.(NAN)(www.nannews.ng)

Edited by Kayode Olaitan

By Emmanuella Anokam

The Nigeria Extractive Industries Transparency Initiative (NEITI), has sought for technical assistance from Australia, Belgium and Canada to deepen Nigeria’s extractive industry reforms.

The reform programme is designed to deal with challenges of corruption, oil theft, illegal mining, stealing of minerals, pipeline vandalisation and associated governance challenges.

Dr Orji Ogbonnaya Orji, Executive Secretary of the NEITI, made the call during a courtesy visit by the Belgian Ambassador and High Commissioners of Australia and Canada to NEITI House, on Wednesday in Abuja.

The News Agency of Nigeria (NAN) reports that the visiting diplomats include the Australian High Commissioner to Nigeria, Ms Leilani Bin-Juda, Belgian Ambassador to Nigeria, Pieter Leenknegt and Canadian High Commissioner to Nigeria, Jamie Christoff.

The visit focuses on engendering partnership and exploring ways to deepen engagement.

Orji therefore called for collaboration on anti-corruption and natural resource governance, capacity building, diplomatic support and engagement, information, data and knowledge sharing.

“As supporting member countries to the global Extractive Industries Transparency Initiative (EITI), your visit is an opportunity to seek and domesticate technical support of your respective countries to the EITI.

“This will connect directly with Nigerian citizens who earnestly desire that the abundant natural resources in this country works for the benefit of all, not just a few,” he said.

According to Orji, NEITI’s legitimate interest is to save Nigeria from continuing loss of revenues and investment opportunities in the sector.

He said that NEITI’s industry reports and recommendations over the years supported local and global partnerships as well as collaboration to address the challenges.

Orji said that such partnership between NEITI and the countries would provide the opportunity and linkage given its in-depth exposure to the issues and challenges at the grassroots.

He described the visit as a huge encouragement to NEITI, and an endorsement of its strong international affiliation and partnership with 57 other resource-rich countries under the global EITI.

He said the fully automated NEITI Data Centre was completed, and awaiting unveiling, adding that the centre has been adjudged as the first of its kind among the 57 EITI-implementing countries.

“It is a one-stop shop for information and data on Nigeria’s extractive sector (consisting of oil, gas and solid minerals)”.

Amb. Sunday Adoli, Member, NEITI, National Stakeholders Working Group (NSWG), North Central Representative, lauded the bilateral relationship between Nigeria and partners that encouraged more cooperation to boost activities in extractive industries.

In his remarks,  Leenknegt pledged more support to the global EITI and NEITI in fostering transparency, accountability and good governance.

Also, Christoff expressed satisfaction with the NEITI’s activities, lauded its data centre, and emphasised the need for data to achieve transparency, public enlightenment and good governance between all tiers of governments.

On partnership, Christoff said the Canadian government had an existing partnership with Nigeria on anti corruption, adding that it would be sustained.

While Bin-Juda commended NEITI over the production of policy reports for information and contextual balance, thereby endorsing partnership on information and knowledge sharing.

Highlights of the visit are a facility tour of the new NIETI Data Centre and the presentation of plagues to the dignitaries by the NEITI boss.

The centre will also serve as a reservoir for all information and data published in the various NEITI Annual Industry Reports since the first edition in 2004 till date. (NAN)

Edited by Rabiu Sani-Ali

By Emmanuella Anokam

The Nigerian Midstream and Downstream Petroleum Regulations Authority (NDMPRA), says its proposed Midstream and Downstream Petroleum Fees Regulations will consolidate fees prescribed for midstream and downstream activities into a single document.

Mr Ogbugo  Ukoha, Executive Director, Distribution Systems, Storage and Retailing Infrastructure, NMDPRA made this known on Monday in Abuja at the opening of its stakeholders’ consultation forum on midstream and downstream petroleum fees regulations 2024.

”The consultation forum is being held in furtherance of Section 216 of the Petroleum Industry Act 2021 (PIA) which mandates consultation with stakeholders prior to the finalisation of regulations made under the Act.

”Section 33 (v) of the PIA is to the effect that the Authority may make regulations establishing fees payable to the Authority subject to section 3 (1) (j) of the PIA,’’ Ukoha said.

This process, he said, had enabled the Authority to review its licence and service fees with a view to reducing the cost entry barrier into the midstream and downstream petroleum industry for prospective operators.

Ukoha said it would encourage investments in the midstream and downstream petroleum industry and lower the operating cost of midstream and downstream petroleum facilities.

“The process will ensure consistency of fees and services across the regulatory space; and promote a competitive market for midstream and downstream petroleum operations.

“These proposed Fees Regulations are to be read in conjunction with other Regulations of the Authority which provide for the technical, commercial and operational regulation of the midstream and downstream petroleum industry.

“The proposed Regulations are also in consonance with President Bola Tinubu GCFR’s commitment to easing the cost of doing business in Nigeria,’’ he said.

Ukoha, while thanking the stakeholders for their submissions and participation, expressed hope for a successful engagement.

He assured them of the authority’s cognisance of the feedback with a view to incorporating the same, where applicable, into the proposed Fees Regulations.

The midstream and downstream stakeholder’s representatives in attendance called for gas distribution licence and transaction to be paid in Naira denomination to enable ease of doing business within the sector.

Speaking, the General Counsel, Greenville LNG, Ngozi Efobi, said imposing a petroleum products distribution licence in addition to the taxes, licensing fees and others already being paid could impede business.

Efobi recommended that the authority should exercise discretion to allow for payment to be made in Naira to enable ease of doing business and promote efficient compliance and strengthen the Naira.

“Nigerian laws/regulations should not contain fee prescriptions in foreign currency of another country.

“We are a domestic downstream company selling in Naira, we should also pay in Naira,’’ she said. (NAN)(www.nannews.ng)

Edited by Gregg Mmaduakolam/Bashir Rabe Mani

By Emmanuella Anokam

Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), has convened a high-level meeting with key stakeholders in the oil and gas sector to resolve issues surrounding the Dangote Refinery.

This is contained in a statement by Nneamaka Okafor, the Special Adviser to the minister on Media and Communications.

The Meeting which held on Monday in Abuja had in attendance Alhaji Aliko Dangote, Chairman/CEO, Dangote Group and Mr Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Others are Mr Gbenga Komolafe, Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Malam Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd).

It will be recalled that recent face-off in the industry saw the leadership of the Dangote Group, NMDPRA and NNPC Ltd, in a disagreement over some pertinent issues.

Dangote had declared that the NNPC Ltd no longer owned a 20 per cent stake in its refinery, stressing that the Nigerian oil company now owns only 7.2 per cent of the refinery due to its failure to pay the balance of their shares, which was due in June.

The NNPC Ltd, however, said the decision to cap its equity participation at the paid-up sum was made and communicated to Dangote Refinery several months ago.

Dangote Refinery

The NMDPRA was also at loggerheads with Dangote over issues bordering on licenses, which the Authority said the Dangote refinery was at its pre-commissioning stage while its diesel below international standards.

Dangote, however, refuted the NMDPRA stand on the issue.

Dangote also accused the International Oil Companies (IOCs) of frustrating its refinery operations by selling crude oil to it through their foreign trading arms offering cargoes at two to four dollars per barrel, above NUPRC official price.

To address the impass, the minister convened the meeting to find a lasting solution to the current issues affecting the Dangote refinery, with all parties demonstrating commitment to collaborative and proactive problem-solving.

Lokpobiri emphasised the importance of cooperation and synergy among all stakeholders.

This, he said would ensure the success and optimal performance of the oil and gas sector, which he described as pivotal for Nigeria’s economic growth and energy security.

The stakeholders expressed their gratitude to the minister for his exemplary leadership and timely intervention in facilitating the dialogue.

The meeting marked a significant step towards resolving the challenges and underscores the minister’s dedication to foster a conducive environment for Nigeria’s oil and gas sector.

The coming on stream of the $20 billion Dangote refinery with a refining capacity of 650,000 barrels per day (bpd) in 2023, gave impetus to the country’s oil and gas sector as it would ensure that Nigeria was not reliant on fuel from overseas. (NAN)(www.nannews.ng)

Edited by Rabiu Sani-Ali

L-R : Executive secretary NEITI Dr Orji Ogbonnaya Orji, Chairman ECOWAS Federation of Chambers of Miners, Alhaji Shehu Sani and National President , Miners Association of Nigeria , Mr Dele Ayanleke at the Multi-stakeholders Roundtable on Enhancing Inclusiveness and Addressing Inequalities in Nigeria Mining Sector

By Emmanuella Anokam

Stakeholders in the Extractive Industries have urged inclusiveness of all stakeholders and host communities to address inequalities in the mining sector.

They made the call on Wednesday, at the 2024 Multi-stakeholder Roundtable on ‘Enhancing Inclusiveness in Promoting Transparency and Addressing Inequalities in Nigeria’s Mining Sector”.

The News Agency of Nigeria (NAN) reports that the event was organised by Global Rights, in collaboration with the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Ministry of Solid Minerals Development.

It seeks to address issues bothering on extractive Industries to avoid recurring mistakes observed in oil industries.

Dr Orji Ogbonnaya Orji, the Executive Secretary of NEITI, in his remarks said ‘‘the forum was imperative, aiming at discussing issues that NEITI had considered to prioritise in its new strategic renewed attention and focus towards the solid minerals sector,’’.

Orji reaffirmed NEITI’s commitment to the partnership between the Global Rights Ministry of Solid Minerals Development and the Ford Foundation in enhancing inclusiveness in the mining sector.

“At the heart of our discussions at this roundtable are two major issues of common concern- fiscal justice and inclusion to put on the agenda as commitments and considered major components of the on-going reforms of the sector.

“For us in NEITI, we also need our partner, Global Rights to consider specifically and pay greater attention to the issues of gender equity and inclusion, specifically, women inclusion.

“Women’s participation in the mining and steel sector has become an issue of debate and advocacy globally.

“This is in view of the negative implications a male-dominated extractive industry characterised by limited access for women in areas of employment opportunities, training, skills acquisition, investments and exposure to issues on managing natural resources endowments,” he said.

The NEITI boss said the roundtable was also important to interrogate some manmade obstacles frustrating women participation in extractive sector activities.

He said gender inclusion in decision making was one of the areas of policy reform.

He listed public disclosure of data that identified specific social, economic, cultural, environmental challenges, women and children faced in oil, gas and mining host communities as some of the policy reforms.

Ms Abiodun Baiyewu, the Executive Director, Global Rights, said the end of oil was approaching, hence the need for Nigeria to enhance the extractive industries to boost the nation’s economy.

Baiyewu also decried the effect of unregulated mining activities affecting the host communities in Nigeria, adding that the extractive sectors had only contributed less than one per cent of our national Gross Domestic Product (GDP) .

“With more than 40 minerals in commercial quantities found across the country, our extractive sectors contribute less than one per cent of the national GDP.

“More than 80 per cent of the sector, artisanal mining in particular is unregulated and the revenue accounted for, ” she said.

Mr Habibu Wushishi, the National Co-Chair, Federation of Nigeria Host Communities, expressed dismay over irregular mining activities that claimed lives among the communities.

Wushishi called on the government to adopt best global practices in the extractive sectors to address such issues across the nation.

The event had in attendance stakeholders from the host communities, royal highnesses, CEOs from various Civil Society Organisations (CSOs) and captains of industries among others. (NAN) (www.nannews.ng)

Edited by Gregg Mmaduakolam/Ese E. Eniola Williams

The Permanent Secretary of the Ministry of Petroleum Resources, Amb. Nicholas Ella.

By Emmanuella Anokam

The African Petroleum Producers’ Organisation (APPO) has urged member countries to fulfill their financial obligations towards establishing the Africa Energy Bank.

To ensure the bank’s operationalisation, the APPO Secretary-General, Dr Umar Ibrahim, urged African oil-producing member countries to contribute their subscription fees of 83 million dollars.

According to him, the bank will be inaugurated in September.

The News Agency of Nigeria (NAN) recalls that Nigeria had on July 4, secured the hosting rights for the Africa Energy Bank, which will be located in Abuja.

Ibrahim spoke at the 18th ordinary meeting of the APPO executive board in Brazzaville, Republic of Congo, where APPO’s headquarters is situated.

The Nigerian delegation was led by the Permanent Secretary of the Ministry of Petroleum Resources, Amb. Nicholas Ella.

In a statement issued by Ella on Wednesday, Ibrahim reaffirmed APPO council of ministers’ resolution to confer the hosting rights of the Africa Energy Bank on Nigeria.

“We are aligned with the resolutions of APPO council of ministers from last week. We will double our efforts to ensure we gather the necessary funds to initiate the Africa Energy Bank,” Ibrahim said.

According to him, the oil producing member countries have formally written to the Nigerian government to discuss expedited steps to establish the bank.

“On July 5, we formally wrote to the Federal Republic of Nigeria. We will discuss how quickly the bank building will be ready and the host country agreement prepared for signature.

“We already have one member country that has signed the establishment agreement; we need one more signature to proceed,’’ Ibrahim said.

The permanent secretary while reiterating Nigeria’s commitment to the continental bloc’s ideals to enhance energy security, expressed President Bola Tinubu’s gratitude to the member states’ unwavering support and confidence in Nigeria’s bid to host the Bank.

“The gathering of the 18-member countries of APPO in Brazzaville demonstrates our collective dedication to fostering unity, cooperation, and sustainable development within the African energy sector,’’ Ella said.

He pledged Nigeria’s determination to collaborate with other members to address the financial needs of Africa’s energy sector through funding oil and gas projects.

Ella urged member countries to harness the collective strength of our nations to build a brighter, more prosperous future for Africa.

“Together, we will create an institution that addresses the financial needs of our energy projects and champion sustainable development, environmental stewardship, and economic inclusivity across Africa.’’

Dr Ibe Kachikwu, a former Nigerian Minister of State for Petroleum Resources, suggested a ten-year plan for the energy industry to encourage an “open era” for investment and advised APPO to grow the bank’s capital base before investing.

During a brainstorming session on the continent’s energy future, Algerian executive board member Remini Amine said that local content, manpower, and infrastructure development are key to unlocking Africa’s energy opportunities.

APPO member state representatives agreed that the Africa Energy Bank would bridge funding gaps in the sector.

The Africa Energy Bank is an initiative of the African Petroleum Producers Organisation and Afreximbank. (NAN) (www.nannews.ng)

Edited by Ese E, Eniola Williams

Some of the 12 CNG stations commissioned simultaneously by Mr Ekperikpe Ekpo, Minister of State Petroleum Resources (Gas) in Abuja and Lagos on Thursday

By Emmanuella Anokam
The Nigerian National Petroleum Company (NNPC Ltd.) says the drive to bring Compressed Natural Gas (CNG) closer to Nigerians has commenced and it is irreversible.
Malam Mele Kyari, the Group Chief Executive Officer, NNPC Ltd, said in addition to the massive deployment of CNG stations nationwide, the company and its partners would also build three Liquefied Natural Gas (LNG) stations in Ajaokuta.
Kyari said this during the simultaneous launch of 12 CNG stations in Abuja and Lagos by Mr Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas).
“There is simply no way to turn back on delivering CNG for all Nigerians. It is the right thing to do. Is it late? Yes, but we will make progress.
“We will cover the gap to ensure that the volatility we see with Premium Motor Spirit (petrol) does not apply to gas,” Kyari said.
He commended President Bola Tinubu for providing the needed support to drive domestic gas utilisation, aimed at delivering cleaner and cheaper source of energy to Nigerians.
In his remarks, the Managing Director, NNPC Retail Limited, Mr Huub Stokman, said the NNPC Retail planned to set up over 100 CNG sites, including 16 NNPC Gas Marketing and NIPCO Gas JV sites in the next one year.
“CNG provides Nigeria with affordable alternatives to existing available fuel products. It will be about 40 per cent cheaper than petrol in Nigeria and with continued investments, it will become a significant part of our energy mix,” Stokman added.
The Chairman of the NNPC Board of Directors, Chief Pius Akinyelure, said increased CNG adoption would foster economic benefits by reducing fuel costs for consumers and businesses alike.
The NNPC Ltd. has taken the lead in the deployment of Auto-CNG Stations across Nigeria sequel to the removal of fuel subsidy and the declaration of the Presidential Compressed Natural Gas (CNG) initiatives.
Already, NNPC Gas Marketing Limited, a subsidiary of NNPC Limited, in partnership with NIPCO Gas Limited has developed an Auto-CNG rollout plan for construction of 35 CNG stations across the country. (NAN)(www.nannews.ng)
Edited by Rabiu Sani-Ali

By Emmanuella Anokam

The TotalEnergies Nigeria says the deep water segment of oil and gas industry in Nigeria has been stuck for 10 years since the Egina Final Investment Decision (FID).

Mr Matthieu Bouyer, the Country Chairman/Managing Director of TotalEnergies Nigeria, made this known at the 23rd Nigeria Oil and Gas (NOG) conference, on Wednesday in Abuja.

The theme of the conference is: “Showcasing Opportunities, Driving Investment, Meeting Energy Demand’’.

The News Agency of Nigeria (NAN), reports that the Egina oilfield is one of the TotalEnergies most ambitious ultradeep offshore project, located at about 130km offshore Nigeria at water depth of more than 1,500m.

Bouyer, in a session entitled: “Defining The Outlook For Deep-Water Exploration and Production in Nigeria”, blamed the gap on high operating costs and lack of contractors and competition in Nigeria.

He listed increased levies, changes in fiscal terms, lack of contractors, competition in regional markets and comparatively high operating cost as some of the reasoned behind the development.

According to him, many contractors had left the country and that has increased the lack of competition in the sector.

To move the deep water sector forward and increase competition in the sector, Bouyer stressed the need for the Federal Government to understand why they left and effect measures to bring them back.

“Even with the fiscal incentives, if the costs are too high, investment will not be possible, therefore, there is need for competition to drive the costs down.

“As Capex are capped, arbitration are made. So it’s important to be competitive and agile to accommodate requirements,’’ he said.

He underscored the need for proactive measures to encourage investments in the deep water space. (NAN) (www.nannew.ng)

Edited by Abiemwense Moru