By Emmanuella Anokam

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in compliance with provisions of Section 71 (1) – (10) of the Petroleum Industry Act (PIA) 2021 has granted a Petroleum Exploration Licence (PEL) to TGS-PetroData Offshore Services Limited (TGS-PD).

The PEL is the first under the PIA 2021 and is under the licence agreement which the Commission and TGS-PD executed for a Geophysical Survey Project for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data.

Mr Gbenga Komolafe, the Chief Executive of NUPRC in a statement on Thursday said the development was another milestone in the smooth implementation of the PIA for the attraction of investment in the oil and gas sector.

“Without data, reserves cannot be auctioned for development and revenue attraction.

“Data acquired under the PEL is not proprietary but speculative/multi-client survey data acquired in partnership with the NUPRC.

“The licence therefore authorises TGS-PetroData Offshore to carry out non-exclusive Petroleum Exploration Operations on a multi-client basis within the licensed area and permits the use of the acquired 3D seismic and gravity data by exploration companies.

“Due to the specialised nature of the Geophysical Survey Vessel to be used for the acquisition of the 3D seismic and gravity data, the Nigerian Content Development and Monitoring Board granted no objection to TGS-PD to deploy the facility,” he said.

He said the acquisition of the 3D seismic and gravity data commenced on July 17 and the processed data would be available for use by mid-2024.

He included the scope of the Geophysical Survey Project as Phase one acquisition of about 11,900 sq. km of new 3D seismic and gravity data in water depth ranging from 30m to 4000m offshore Niger Delta.

According to him, acquiring seismic and gravity data at the same time will improve the correlation of identified structures and reservoirs.

“Record length of 14 seconds. This is the first of its kind in Nigeria. This will image deeper reservoirs that have not been imaged offshore Niger Delta before now.

“The acquired seismic and gravity data will be processed using the latest TGS proprietary technology. The acquired data will be licensed to exploration companies,” he said.

The CCE however listed the benefits that Nigeria would derive from the new 3D seismic and gravity data acquisition to include availability of new regional 3D seismic and gravity data in deep waters ranging from 30m to 4000m offshore Niger Delta.

He said the Commission had the sole right and title over the acquired raw and interpreted data to be obtained by the licensee (TGS-PD) under a petroleum exploration licence. Therefore, the 3D seismic and gravity data belongs to the Nigerian Government.

“Based on section 71(7) of the PIA, the Commission and Federal Government of Nigeria shall benefit from the revenue that will be generated from the data use licence that will be granted to interested exploration companies by TGS-PD.

“The new 3D seismic and gravity data being acquired will further provide an opportunity for understanding the regional petroleum system of the ultra-deep waters of Nigeria and unlock the hydrocarbon prospectivity of Nigeria’s frontier basins (Ultra-deep offshore).

“The 3D seismic and gravity data when acquired will be useful in future deep water licencing rounds which will attract Foreign Direct Investments (FDIs) into oil and gas exploration in Nigeria,” he said. (NAN) (www.nannews.ng)

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Edited by Sadiya Hamza

By Emmanuella Anokam

Oilserv Limited, Pipelines and Facilities (EPCIC), the contractor handling the $2.5 billion Ajaokuta-Kaduna-Kano (AKK) Natural Gas Pipeline Project says it will surmount every challenge to ensure it delivers the project in July 2024.

Chairman of the company, Mr Emeka Okwuosa, gave the assurance on Thursday during an inspection of the project sites in Pai community, situated between Gwagwalada and Kwali area councils, Abuja.

The inspection was led by the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo.

The News Agency of Nigeria (NAN) reports that the minister was on an inspection with some top officials of NNPC Ltd. and Oilserv to see the progress of work at the Pai River crossing session in the area.

Oilserv is handling the segment A of the AKK pipeline of about 614km-long natural gas pipeline being developed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to run from Ajaokuta, through Abuja-Kaduna to Kano.

Okwuosa, who was optimistic of the timely delivery, said the Linear section which would carry the gas, was about 80 per cent completed, while the overall completion of the entire project had reached 55 per cent.

He listed river crossing, rock blasting, drilling, security and construction on right of way, as some of the challenges, noting that it would continue to work closely with the NNPC Ltd. to ensure timely delivery.

“We have given commitment to the minister that the project will be completed by July 2024; we are working very hard irrespective of the challenges; challenges will always exist but Oilserv has repeatedly built gas pipelines for the nation.

“The AKK pipeline will make a lot of difference because gas is energy and energy is wealth, and Nigeria has it in abundance but we have to have delivery systems to get the gas to where it is required for commercialisation.

“That is what we are doing here, and we assure Nigerians that it will be completed as stated,” he said.

The chairman, who described the project as an economic prosperity venture and a priority project of the Group Chief Executive of the NNPC Ltd., said it was a segment of the Nigerian gas master plan meant to distribute gas across Nigeria and provide energy.

“After completion, we would be able to have gas and NNPC would be able to deliver gas to the Northern part of Nigeria and also spur development of gas in the southern part of Nigeria and create a lot of wealth as well in the south.

“With gas available, you have power, Compressed Natural Gas (CNG) for vehicles to run with, and reduce dependency on Premium Motor Spirit (PMS), build urea and fertiliser plants, helping agriculture and so on.

“This project will change the landscape of energy delivery, and the economy of Nigeria will change,” he added.

Okwuosa, while commending the Federal Government and NNPC Ltd for their support, lauded the minister for his commitment towards the project completion, adding that the development of gas as a source of energy in Nigeria was unequalled.

“I can assure you that whatever we are doing will not be possible without the support of NNPC and we are always in sync, and they support and raise the funds to keep the project ongoing.

“Our commitment is more than 100 per cent. Though we have challenges, our job is to deal with the challenges and make sure the project is completed as scheduled,” Okwuosa said.

Mr Chigozie Obi, Group Chief Technical Officer, Oilserv, also briefed the officials on the schematic of the AKK pipeline and station installation.

He explained the progress of the project which comprised three spreads of Alpha, Brovo and Charlie with the level attained.

The minister was accompanied by Mr Farouk Ahmed, Authority Chief Executive, Nigeria Midstream and Downstream Petroleum Regulatory Authority; Mr Olalekan Ogunleye, Executive Vice President, Gas, Power and New Energy, NNPC Ltd and other top officials of Oilserv Limited, among others. (NAN)(www.nannews.ng)

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Edited by Idris Abdulrahman

By Emmanuella Anokam

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has begun consultation with stakeholders prior to finalising seven more petroleum draft regulations, in compliance with the Petroleum Industry Act (PIA 2021).

Mr Gbenga Komolafe, the Commission’s Chief Executive, said this at the 4th Phase of its Consultation Forum with Stakeholders on regulations development, as mandated by Section 216 (4)(g) of the PIA, on Thursday in Abuja.

The News Agency of Nigeria (NAN) reports that the regulations include Draft Upstream Commercial Operations Regulations, Upstream Petroleum Code of Conduct and Compliance Regulations as well as Upstream Petroleum Development Contract Regulations.

Others are: Upstream Revocation of Licences and Lease Regulations, Petroleum Assignment of Interest Regulations, Nigerian Upstream Petroleum (Administrative Harmonisation) Regulations and Amendment to the Nigerian Upstream Petroleum Host Communities Development Regulations 2022.

Komolafe, represented by Dr Kelechi Ofoegbu, Executive Commissioner, Economic Regulation and Strategic Planning, NUPRC, said the regulations were significant in line with recent happenings in the industry and that it formed part of the framework of key regulatory tools for PIA implementation.

“This phase of public hearings on the making of regulations for the upstream is divided into two segments.

“The first segment will run from Oct. 9 to Oct. 13, while the second segment will start from Nov. 8 to Nov. 10,” he said.

He said the Draft Upstream Commercial Operations Regulations 2023 proposed to establish commercial operations framework on the procedure and process for evaluation and approval of Field Development Plans and annual work programme and budget approvals.

“Upstream Petroleum Development Contract Administration Regulations prescribed the framework for the regulatory administration of petroleum development contracts joint development Agreements and Production sharing agreements (Service Agreements) relating to upstream petroleum operations.

“Upstream Revocation of Licences and Lease Regulations propose to set out the framework for implementing the Revocation Provisions of the Act and for dealing with post revocation issues in a systematic manner.

“Draft Petroleum Assignment of Interest Regulations 2023 propose to elevate the provisions of the existing guidelines on divestment of interest to a regulation and by so doing, improving the rules to reflect current realities,” Komolafe explained.

He also listed the relevance of the draft regulations, which the second segment would consider.

Komolafe described the Draft Upstream Petroleum Code of Conduct and Compliance Regulations 2023 as a novel regulation aimed at ensuring commitment by licensees, lessee and permit holders to maintain high ethical standard in the conduct of upstream petroleum operations.

“The Draft Nigerian Upstream Petroleum (Administrative Harmonisation) Regulations 2023 seeks to provide regulatory clarity on the implementation of the dual regulatory regime in the upstream occasioned by the preservation of licences and leases.

“Draft Amendment to the Nigerian Upstream Petroleum Host Communities Development Regulations 2022 seeks to introduce certain amendments to the existing regulation on the implementation of the host community regime.

“This will further ease the administrative process and provide regulatory clarity to the challenges that the implementation of the regime has thrown up in the last one year since the initial regulation was established,” he said.

He reiterated that the process of formulating the above regulations had been a rigorous and strenuous exercise.

He added that they were products of critical thinking and the evaluation and process was incomplete until the stakeholders’ critical inputs were obtained, discussed, and incorporated.

Recall that PIA 2021 empowers the Commission to make regulations which will give meaning and intent to the spirit of the PIA.

Consequently, Komolafe said in fulfillment of this mandate, the commission swung into action with the drafting of regulations of which 12 regulations have been successfully gazetted into law and published to date between June 2022 and July 2023.

According to the CCE, the gazetting of these regulations demonstrated the Commission’s commitment towards providing a business enabling environment in the Nigerian Upstream Oil and Gas industry space.

Earlier, in a remark, Mr Kingston Chikwendu, Head, Compliance and Enforcement, NUPRC, said the PIA had seen accelerated implementation on the side of the upstream sector and part of the process was anchored on developing framework for regulations.

“We have been able to issue 12 regulations out of 26 priority regulations identified by the Presidential Implementation Committee of the PIA.

“We are here to consider more regulations which will be forwarded to the Attorney General of the Federation and Minister of Justice for approval,” he said.

The event was attended by the NUPRC executive commissioners, officials from Oil Producers Trade Section of the Lagos Chambers of Commerce, Independent Petroleum Producers Association and Indigenous Operators among others. (NAN)(www.nannews.ng)

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Edited by Salif Atojoko

By Joan Nwagwu

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called for a salary benchmark for oil and gas workers in the country.

Mr Festus Osifo, National President of the union, made the call at the Second Edition of the PENGASSAN Energy and Labour Submit on Monday in Abuja.

The three-day event is titled: “Petroleum Downstream Deregulation and Gas Utilisation, for a Sustainable Energy Future in Nigeria’’.

Osifo said that the call was imperative due to the recent policy direction by the Federal Government.

He said policies by the government included the PMS subsidy removal and the floating of the naira-dollar exchange rate.

“Part of the decisions of floatation has only benefited the government and the oil and gas companies in Nigeria.

“This has necessitated a call for salary benchmark for oil and gas workers, aligning with the instrument of trade of oil and gas commodity,’’ he said.

He, however, said that in Angola, legislations pegged workers’ salaries in dollars and paid them the legal tender equivalent.

Usifo said the Angola template was a testament to the possibilities of safeguarding the interests of workers amidst currency fluctuations.

He added that the floating of the naira in the official market had exacerbated the challenges faced by our workers.

“We must explore innovative solutions to restore financial losses to workers by preventing undue gains to oil companies and ensuring a fair and equitable environment for all.

“PENGASSAN will do all it can to push for this just and equitable distribution across its branches’’.

Osifo, while speaking on the theme, said it was carefully chosen due to the multifaceted challenges and opportunities inherent in the energy sector.

“Over the next three days, we will engage in enlightening discussions, share insights, and formulate strategies to address critical issues such as divestment, PMS subsidy removal and the place/role of the ever ready Nigeria workers in the oil and gas industry and it commitment value chain

“We are witnessing a significant shift in our landscape of the energy in the country, marked by the divestment action of companies such as Mobile Producing Nigeria, Nigeria Agip Company, SPDC, and others,’’ he said.

On his part,  Mr Mele Kyari, Group Managing Director of the NNPC Ltd, said that Nigeria was witnessing some positive outcome of the subsidy removal in spite of challenges.

Kyari said that most construction companies had started moving back to sites as more resources became available to execute projects.

According to him, by 2024, Nigeria will become a net exporter of refined petroleum products based on ongoing policy interventions by the present administration.

“The meaning of this is that we will have sufficient volumes in-country, when we refine locally, we do have advantages.

“That is by creating wealth, creating taxes, and all forms of value chain, creating employment, and so on and so forth,’’ Kyati said.

He added that what Nigeria needed was to adjust its realities as it imported 100 per cent of its production.

“No resource-dependent country does this and that is why we must deliver on our mandate,” he said. (NAN)(www.nannews.ng)

Edited by Chijioke Okoronkwo

By Emmanuella Anokam

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has held a meeting with oil marketers to resolve the challenges faced with importation and distribution of petroleum products in the country.

The meeting was hosted by NMDPRA’s Chief Executive, Mr Farouk Ahmed, on Monday in Abuja.

It featured representatives of the Major Oil Marketers Association of Nigeria (MOMAN), the Nigerian National Petroleum Company (NNPC) Ltd. and Independent Petroleum Marketers Association of Nigeria (IPMAN).

The Depot and Petroleum Marketers Association of Nigeria (DAPPMAN) and the Nigerian Association of Road Transport Owners, among other stakeholders were also represented at the meeting.

The meeting was necessitated by challenges faced by oil marketers, ranging from foreign exchange scarcity for importation of petroleum products, deplorable roads nationwide, non-functional refineries and refusal of banks to provide loans.

Ahmed, while speaking to the newsmen shortly after the meeting, said the meeting tackled issues surrounding the seamless distribution of petroleum products and the way forward.

He said based on the discussion, the oil marketers solicited the authority’s support to ensure the federal government guarantees availability of petroleum products at affordable prices.

“We had very robust discussions and the oil marketers expressed their concerns and also areas where we can support both the marketers and transporters to ensure that there is flow of petrol products across the country.

“NNPC Limited has assured of supply and also the marketers have expressed their concerns about the availability of foreign exchange in order to also import and sell.

“As regulators, we can continue to say the market is open for everybody and all those who have applied for license, over 90 marketing companies have gotten.

“We have given them access to all the required support that they needed in order to ensure there is a constant supply of products in the country,” he said.

On the foreign exchange challenges faced by marketers, Ahmed explained that engagement had been ongoing with the Central Bank of Nigeria (CBN) in that direction to make the dollar available.

“We are all working towards stabilising of the naira,” he said.

Mr Dapo Segun, Executive Vice President, Upstream, NNPC Ltd., assured of the commitment of the national oil company to make petroleum products available to Nigerians.

Segun said the company would continue to shop for supply. “We are looking at ways to resolve these issues. We at NNPC will continue to make sure that supply is there and we will also support the industry.”

The Chairman of DAPPMAN, Mrs Winifred Akpani, also assured of adequate supply of the products and said Nigerians should not panic.

“The government has promised to resolve some of the issues for us, bearing in mind that we just transited from regulated market to deregulated market.

“We expect some of these issues to come but the most important thing is the willingness of all of us as stakeholders to resolve the problem,” she said. (NAN) (www.nannews.ng)

Edited by Salif Atojoko

By Ismail Abdulaziz

The Federal Government is no longer paying subsidy on Petroleum Motor Spirit (PMS), popularly known as petrol, the News Agency of Nigeria (NAN) reports.

The Group Managing Director of Nigerian National Petroleum Corporation Limited (NNPCL), Malam Mele Kyari, disclosed this to State House Correspondents on Monday in Abuja.

He said that contrary to insinuations on social media, the federal government was no longer paying subsidy to any person or group for bringing petroleum products into the country.

“No subsidy whatsoever. We are recovering our full cost from the products that we import. We sell to the market.

“We understand why marketers are unable to import. We hope that they begin to do so very quickly and these are some of the interventions government is making. There is no subsidy,’’ he said.

Kyari further stated that the pockets of low queues witnessed across some states recently were due to bad roads that had made transporters to divert the product to other routes.

“We have seen in very few states pockets of very low queues. This is not unconnected with the road situation and that’s why we’re seeing some blockades on our roads.

“Moving the products from the southern depots into the northern part of the country takes them much longer time now than it used to be.

“They have to re-route their trucks around many locations for them to be able to reach their destinations and that created delays and some supply gaps. But, that has been filled and we do not see any of such problems again.

“Secondly, because of the full deregulation that we have in this sector, marketers are now competing amongst themselves,” he said.

The NNPCL group managing director also said that some of the queues were caused by the preference of customers to patronise filling stations that offered low prices.

“You must have noticed that some fuel stations will reduce their prices by N2 or N3. So customers will naturally run to the places where you have that reduction in prices and probably create panic.

“This is because those who don’t know why they are doing it will think that there’s something happening or that there’s an ominous sign of scarcity,’’ he said.

According to him, there are over 1.4 billion litres of petrol available for local consumption, both on the seas and on land, adding that there is no cause for alarm.

Kyari explained that market forces were now playing out and that marketers were competing for the product and how to satisfy their customers as well.

‘’There are few issues we’re engaging them to resolve, alongside other agencies of government, particularly critical issues around access to foreign exchange.

“And as you all know, government is doing so much to ensure supply of forex into the market.

“We know that this FX markets will stabilise the current I&E window is around 770.

“And we know that those inputs from government will crystalise and they will come to an equilibrium position in the FX market and this is the dream of this country,’’ he said.

Kyari assured marketers of a stable forex and a situation where the prices of the product would align with the prices of other commodities. (NAN) (www.nannews.ng)

Edited by ‘Wale Sadeeq

By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that the contracts for pipeline rehabilitation were awarded based on evaluation criteria and in accordance with industry standards.

The management of the NNPC Limited made this known in a statement on Sunday while reacting to reports in some sections of the media alleging underhand dealings in the contract award.

It said the contracts, which were advertised, were awarded based on rigorous evaluation criteria and in line with industry norms.

“The attention of the NNPC Ltd has been drawn to reports in an isolated sections of the media alleging underhand dealings in the award of contracts for the rehabilitation of pipelines across the country.

“It is crucial to provide accurate information to address any misconceptions and ensure transparency in our operations.

“We would like to state categorically that these reports are fallacious and designed to bring the good name of the Company into disrepute.

“NNPC Limited is deeply committed to adhering to the highest standards of transparency and global best practices in all our activities, and this includes our contracting process,” it said.

The NNPC Limited, while re-emphasising its commitment to transparency, said it subjected the selection process to a competitive tender guided by Bureau of Public Procurement standards, Infrastructure Concession Regulatory Commission expertise, and the active involvement of a Transaction Advisor.

It said it also had representations from NEITI and the Ministry of Justice in the project development team and the evaluation exercise.

It listed the composition of Consortium members per lot spread across Nigeria.

“LOT 1: Oilserve Ltd, Chu Kong Steel Pipe Group Company Ltd, Saudi Crown Oilserve.

“LOT 2: MacReady Oil and Gas Services, COBRA Instalicios S.A, Control Y Montajes Industriales and International De Pipelines, Iron Products Industries Ltd, Batelitwin Global Services Ltd, Bauen Empresa Constructora SAU, Sanderton Energy Ltd, The Spanish National Association of Manufacturers.

“LOT 3: A A Rano, Zakhem Construction Nigeria, Bablinks Resources Ltd, VAE Controls S.R.O and LOT 4: MRS Oil and Gas, CPPE Nigeria Ltd

“It is imperative to emphasise that these contracts are Build, Operate and Transfer agreements, and selected partners are to finance the rehabilitation and do not entail the transfer of control of these assets to any particular company,” it said.

It said its objective was to enhance the integrity and functionality of the pipelines to facilitate the efficient transportation of crude oil to refineries and the distribution of its products across the country.

According to the NNPC management, the ownership of these strategic national assets remains with NNPC Limited, and are fully committed to ensuring their continued operation in the interest of over 200 million Nigerians.

It would be recalled that some sections of the media recently alleged that NNPC Ltd had awarded juicy rehabilitation contracts of the nation’s pipelines to four oil companies, including two downstream retailers. (NAN)(www.nannews.ng)

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Edited by Vincent Obi

By Emmanuella Anokam

The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has appealed to the federal government to provide palliatives for oil marketers to import fuel at N600 per dollar for three months.

NOGASA said the measures became necessary due to growing challenges of petroleum products procurement and distribution, especially with the attendant hardships resulting from increases in pump prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) nationwide.

The association made the call on Thursday in Abuja, in a communique at the end of its National Executive Council (NEC) meeting, presented by its National President, Mr Benneth Korie.

“We wish to sincerely reiterate that the only realistic option out of this dire situation for now is for government to urgently expedite the provision of ‘Emergency Palliative Measures’ for Marketers.

“Such that fuels can be imported at the rate of at least N600 per dollar for the next three months, while waiting for the promised reactivation of our refineries.

“The NEC of NOGASA, an umbrella representative body for all marketing and distribution bodies in the country has been speaking expressly and expediently through its National President, with strong insight and alerts to government on the scary trend that is evolving thus far.

“NOGASA is worried that between now and December 2023, in the absence of intervention, there are increasing losses of lives, businesses, jobs, shut down of filling stations and packing up of petroleum tankers due to high cost of importation, transportation and distribution of products,” he said.

Korie said a major newspaper just confirmed the price of diesel to have hit N1,000 per liter, which he described just as “a flash in the pan,” adding that suppliers were at the receiving end of this development.

He recalled that while NOGASA applauded the removal of fuel subsidy, it warned and advised that the right steps be taken to cushion its effects for the survival of citizens and businesses.

Similarly, he said depot owners had been negatively affected by the increasing cost of crude and exchange rate, hence many depots were deserted as their owners were unable to secure bank loans to fund their businesses due to high interest rates.

“Banks are unwilling to guarantee funds release to stakeholders as a result of the difficulty, instability and galloping rates of foreign exchange and high cost of dollar.

“Many depots are presently dried up or out of stock, and this is no gainsaying as it is evidently verifiable.

“Worst hit are filling stations whose owners find it difficult to secure funds to procure products for their retail outlets, and both the independent and major marketers are negatively affected such that filling stations are shutting down in great numbers.

“Dealers are going out of business with many more on the verge of bankruptcy because of their inability to secure funds to facilitate orders for their stations,” the president said.

Korie urged government to save the industry from collapse, which may result in a devastating blow to the economy because the country’s success depended on the survival of the oil industry, whose critical stakeholders were negatively affected.

He said the emergency intervention would go a long way in cushioning the harsh effect of the high cost of importation and equally bring about reasonable reliefs to the business and cost of living generally.

He decried the poor state of the roads, and called for infrastructural provision and maintenance, because petroleum products distribution was hampered by unmotorable roads.

“This development is already a waiting threat to the laudable Compressed Natural Gas (CNG) driven transportation innovation of President Bola Tinubu.

“Practical solutions are suggested to engage the local workforce to speedily refurbish or resuscitate bad roads across the country,” he advised.

He further advised government to tackle challenges in the areas of importation as well as clearing in Nigerian Maritime Administration and Safety Agency, Nigeria Ports Authority, Nigerian Upstream Petroleum Regulatory Commission and other agencies involved with dollar transactions for marketers.

“The bottlenecks are simply killing us. Our businesses are dying and the system is not helping us at all. An urgent action is required to save our industry from total collapse,” he said.

Earlier, Mr John Okekeocha, National Secretary, Independent Petroleum Marketers Association of Nigeria (IPMAN) decried ineffective governance and removal of fuel subsidy without putting adequate measures like refineries in place.

“All downstream players must ensure they are on the same page and think outside the box to make impact and also be part of government decision making,” he said.

Also speaking, Mr Billy Harry, President, Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), said removal of oil subsidy should have been a stakeholders issues, involving all to sort out measures to cushion it.

According to him, 350,000 dollars is required to establish a CNG station. (NAN)(www.nannews.ng)

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Edited by Salif Atojoko

By Emmanuella Anokam

The Nigeria Extractive Industries Transparency Initiative (NEITI) says it is not a revenue generating agency and has no powers under the law to either collect, keep custody or manage government revenues.

NEITI says rather it supports government to mobilise revenue for its development activities by beaming searchlight on leakages, wastages and other areas through which government can optimise its revenue take from the country’s natural resources.

NEITI made this known in a statement on Wednesday by Mrs Obiageli Onuorah, Deputy Director/Head Communication and Stakeholders’ Management, NEITI.

Onuorah said this clarification on NEITI’s position became necessary due to a story in a section of the media credited to a member of the Senate titled “Lawmaker demands NEITI’s probe over missing $15 billion, N200 billion”.

She said NEITI viewed the report as misleading, a mix-up of issues and misrepresentation of facts contained in its latest oil and gas industry report released at a public event held on the Sept. 18, 2021 in Abuja.

She said the sum of 8.26 billion dollars (and not 15 bllion dollars as attributed to the lawmaker by the newspaper report) was the public disclosure by NEITI.

She said it was a disclosure as potential collectible revenues due to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS) as outstanding liabilities.

She said in the same direction the sum of N200 billion Naira was another revelation by NEITI in the same report as funds expended on the repair of the nation’s refineries between 2020 and 2021 which it queried in the same report since the refineries were not working.

“The funds in questions and other crucial facts, information and data are contained in the recently released NEITI Report.

“For avoidance of doubt, the core responsibility of NEITI is to release this information and data to the public while it is within the mandates of the legislator, the civil society and the citizens to use the disclosed information for advocacy and civic engagements.

“NEITI is fully aware that the relevant Committees of the National Assembly are currently working closely with NEITI to address the findings and recommendations thrown up by the report.

“It is therefore a misconception and misrepresentation of the position of the law maker calling for the investigation of NEITI over a missing $15 Billion revenue,” she said.

The deputy director further said the clarification became necessary in other to re-focus attention on the basis for the conduct of the reports released by NEITI.

This, she said was to highlight findings in the reports, ensure better implementation of NEITI’s report recommendations, address the lingering issues in the extractive sector, and improve optimisation of Nigeria’s extractive endowments for the benefit of all Nigerians. (NAN)(www.nannews.ng)

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Edited by Isaac Aregbesola