News Agency of Nigeria
Nigeria’s economy grew by 2.4% in Q1 – OPEC

Nigeria’s economy grew by 2.4% in Q1 – OPEC

By Emmanuella Anokam

The Organisation of the Petroleum Exporting Countries (OPEC) has said that Nigeria’s economic growth in the first quarter of 2023 (1Q23) stood at 2.4 per cent year-on-year (y-o-y).

OPEC made this known in its Monthly Oil Market Report for August obtained by the News Agency of Nigeria (NAN) on Friday.

OPEC said this was against a growth of 3.6 per cent in fourth quarter of 2022, an indicator of 2023 anticipated slowdown.

According to the report, after Nigeria’s economy grew by 3.3 per cent in 2022, it is forecast to decelerate in 2023.

It said high inflation continued to burden the Nigeria’s economy.

“Inflation data for June shows an ongoing acceleration, with an annual rate of 22.8 per cent y-o-y, following 22.4 per cent y-o-y in May and 22.2 per cent in April and 22 per cent in March.

“Food inflation has been a key factor in this rise, reaching 25.1 per cent year-on-year (y-o-y) in June, after 24.8 per cent y-o-y in May.

“A combination of factors including conflict, the impact of climate change, population pressures, and the below-average output of the agricultural sector, exacerbated the scarcity of food resources over recent years,’’ it said.

To assist, it said the Nigerian government had unveiled a comprehensive financial package amounting to N500 billion.

To lower inflation, the report said the Central Bank of Nigeria (CBN) lifted the key policy rate by 25 basis points to 18.75 per cent in July.

As a consequence of the ongoing challenges, it said in May 2023, Stanbic IBTC Bank Nigeria Purchasing Managers Index retracted to stand at 51.7 in July, after a level of 53.2 in June was reached. (NAN) (www.nannews.ng)

=========
Edited by Chinyere Joel-Nwokeoma

Non-OPEC oil supply to expand by 1.5mb/d in 2023 – OPEC

Non-OPEC oil supply to expand by 1.5mb/d in 2023 – OPEC

By Emmanuella Anokam

The Organisation of the Petroleum Exporting Countries (OPEC) says, its Non-OPEC oil supply is expected to expand by 1.5 million barrels per day (mb/d) in 2023.

This is a slight upward revision from the previous assessment of 1.4mb/d.

OPEC said this in its Monthly Oil Market Report for August obtained by the News Agency of Nigeria (NAN) on Friday.

NAN reports that Non-OPEC oil producers are crude oil producing nations outside of the OPEC group and shale oil producers.

Some of the top oil producing countries are non-OPEC nations and these include U.S. which is the number one producer as well as Canada and China.

The report said the main drivers of oil supply growth for 2023 were expected to be the U.S, Brazil, Norway, Kazakhstan Guyana and China, while the largest decline was expected from Russia.

It said there remained uncertainties associated with U.S shale oil output potential and unplanned maintenance in 2023.

According to the report, for 2024, non-OPEC oil production is projected to grow by 1.4 mb/d, unchanged from the previous assessment.

“For 2024, the main drivers for liquids supply growth are expected to be the U.S, Canada, Guyana, Brazil, Norway and Kazakhstan, mainly due to existing project ramp-ups.

“The largest declines are expected from Mexico and Azerbaijan.

“OPEC NGLs and non-conventional liquids are forecast to grow by 46 thousand barrels per day (tb/d) in 2023 to an average of 5.4 mb/d and by another 65 tb/d to an average of 5.5 mb/d in 2024,” it said.

The report said in July, OPEC-13 crude oil production decreased by 836 tb/d month-on-month (m-o-m) to an average of 27.31 mb/d, according to available secondary sources.

The report further revealed that its World Oil Demand in 2023 was expected to grow by 2.4 million barrels per day (mb/d), unchanged from July’s assessment.

It said upward revisions to the first quarter of 2023, based on actual data received for the Organisation for Economic Cooperation and Development (OECD) America and OECD Europe, was completely offset by downward revisions to 2Q23, mainly in Europe and Other Asia.

“In the OECD region, oil demand in 2023 is anticipated to rise by 74 thousand barrels per day (tb/d), to an average of 46.0 mb/d.

“While in the non-OECD region, total oil demand is anticipated to rise by nearly 2.4 mb/d, to average 56.0 mb/d,” the report said.

It stated that for 2024, world oil demand was forecast to grow by a healthy 2.2 mb/d, unchanged from the previous assessment.

According to the report, the OECD is anticipated to expand by about 0.3 mb/d, with OECD Americas contributing the largest increase.

It added that the non-OECD was set to drive growth, increasing by around 2.0 mb/d, with China, the Middle East and Other Asia contributing the largest share, with further support from India, Latin America, and Africa. (NAN) (www.nannews.ng)

===========
Edited by Salif Atojoko

Association urges FG to outline blueprint on solid minerals for efficient mining activities

 

By Vivian Emoni
The Miners Association of Nigeria (MAN) on Tuesday urged the Federal Government to come up with an agenda on mineral resources for efficient mining activities across the country.
The President of MAN, Mr Dele Ayanleke, said this in Abuja, at a news conference on the issue of state government’s interference in mining activities.
Ayanleke said that so many legacy challenging the issue of state governments usurping the functions of constitutionally-recognised mining industry regulators started gaining momentum of recent.
According to him, MAN will like to make a clarion call to the government on the need to come up with the agenda of its administration on solid minerals sector.
“On our part as a body of investors and operators, we shall reach out to the new administration soon with a blueprint of our contributions to a mining regime that will support the economic diversification agenda in pragmatic terms,” he said.
The president said that MAN, as the umbrella body of operators and investors in the sector, has never been in support of illegal mining operations under any guise.
He said that the association was ready to partner with the Federal Ministry of Mines and Steel Development and other relevant stakeholders to ensure a sanitised mining environment.
He expressed concerned that some new governors have started issuing executive orders, either banning mining activities or attempting to regulate the sector.
According to him, some of such states are Ebonyi, Osun, Enugu, Cross River, Taraba among others.
“Taraba state government went as far as setting up a Task Force on illegal mining and deforestation with full authority to arrest, summarily prosecute and sentence anyone found culpable under its own laws.
“We are of the belief and conviction that the issue of illegality in the system must be appraised and confronted in whole.
“A situation where a group of stakeholders is being stigmatised as the perpetrators of illegality by the holders of coercive machinery of state, is totally unacceptable.
“Drawing from the above, Taraba State Government, or any other state and local governments for that matter, does not have the competence to determine the legality of any operator.
“Such competence resides with the ministry or any of its agencies, saddled with the various regulatory functions,” he said.
Ayanleke said that in section 44(3) of the 1999 constitution, as amended and section 1(1) of the mining Act 2007, place the ownership of mineral resources and mining regulations in Exclusive Legislative List.
He said the constitution was made to address the socioeconomic and environmental concerns of the lower tiers of government.
“The Federal Government, through its appropriate agencies, is saddled with the oversight responsibility on any mining and minerals related issues; including, but not limited to mining titles administration.
“It is on this note that we hereby appeal to the Federal Government to call state governments to order by honoring their oath to defend and uphold the constitution of the nation.
“This is to engender an atmosphere of mining best practices so that local investors can contribute their quotas to the economic development of the country and open windows for foreign investments,” he said.
The MAN president said that the importance of the meeting was not to vilify or wage war against any state government.
He said that part of the association’s advocacy was to draw attention to a critical governance impediment militating against the solid minerals sector as a veritable option in the government economic diversification agenda.
“According to him, at a time when the whole world is thinking, talking and going green energy, our huge endowments in minerals needed to be among global actors.
“Nigeria cannot afford to help other nations develop their industries through mass exportation of our unprocessed solid minerals, while our citizens wallow in poverty.
“It is time our government takes a cue from the initiative of our founding fathers.
“Our founding fathers invited technologies that turned our agricultural resources into huge industrial development with attendant wealth creation in the post-independence First Republic. (NAN) (www.nannews.ng)
Edited by Dorcas Jonah/Vincent Obi
NLNG equips 90 journalists with digital skills

NLNG equips 90 journalists with digital skills

By Emmanuella Anokam

The Nigeria Liquefied Natural Gas Ltd. (NLNG) says its ‘NLNGChangeYourStory’ skills workshop has benefited over 90 journalists since 2015.

The NLNG said the skills workshop aimed at reinforcing their digital communication and social media competencies.

Mr Andy Odeh, NLNG’s General Manager, External Relations and Sustainable Development, said this at the end of its 2023 #NLNGChangeYourStory workshop in Abuja.

The News Agency of Nigeria (NAN) reports that the three-day annual capacity-building workshop brought together a diverse group of more than 25 journalists from various media organisations in Abuja.

The event, fully sponsored by NLNG, focused on mobile and multimedia journalism, offering participants a comprehensive learning experience.

Odeh, in a statement on Monday, by Mr Yemi Adeyemi, Acting Manager, Corporate Communications and Public Affairs, NLNG, said the workshop aimed at equipping journalists with cutting-edge digital communication and social media skills.

Odeh expressed NLNG’s commitment to empowering journalists with tools and skills needed to effectively convey stories that resonated with the Nigerian populace in today’s rapidly evolving digital age.

He reiterated NLNG’s belief in fostering a symbiotic relationship with its stakeholders, recognising their indispensable role in the company’s current and future success.

“The growth and triumph of NLNG’s stakeholders are inextricably tied to the company’s growth, and thus, capacity building remains a cornerstone of NLNG’s commitment to collective progress.

“NLNG’s dedication to capacity building is not a mere rhetoric but a tangible commitment that bolsters the growth and success of both stakeholders and the nation.

“It is also in line with our vision of being a globally competitive LNG company helping to build a better Nigeria,” he said.

He added that NLNG’s quest for sustainability led to the recognition of digital communication and social media as the future of the media.

He said the workshop was initiated in 2015 when eight journalists participated in the first #NLNGChangeYourStory workshop.

He said the workshop, anchored by seasoned journalist, Mr Dan Mason, in collaboration with ‘The Journalism Clinic,’ led by Mr Taiwo Obe, proved to be a transformative experience for the participating journalists.

“Leveraging their wealth of knowledge and experience, these experts guided participants through the nuances of digital communication and social media, empowering them to take control of their narratives and shape the nation’s stories.

“The workshop is an inspiring testament to the transformative power of state-of-the-art training.

“Journalists emerge equipped with the confidence and skills to embrace digital communication and social media,” he said. (NAN)(www.nannews.ng)

==========
Edited by Salif Atojoko

Gwagwalada gas power plant to add 5GW to national grid – NNPCL

Gwagwalada gas power plant to add 5GW to national grid – NNPCL

By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPCL) says the Gwagwalada Independent Power Plant (GIPP) project is a giant step towards achieving its gas and power mandate to add five gigawatts into the national power generation by 2024.

Malam Mele Kyari, Group CEO, NNPC Ltd., made this known on Friday in Gwagwalada, Abuja at the presidential groundbreaking of the 350 Megawatts (MW) Gwagwalada Independent Power Plant (GIPP) project.

The News Agency of Nigeria (NAN) reports that the groundbreaking was performed by President Bola Tinubu in the company of other top government dignitaries.

The gas plant is a 1,350MW Combined Cycle Power Plant with auxiliaries and Balance of Plant to be situated on 547 hectares of land already acquired at Gwagwalada, Federal Capital Territory (FCT), Abuja.

The GIPP was necessitated by the need for delivering gas toward additional power generation capacity in Nigeria.
The gas supply to the plant shall be through the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline which is currently at its advanced stage of construction.

On completion, the GIPP Project will generate an average of 10.3 million Megawatts hour (MWh) of electricity per year for sale to the Nigerian Bulk Electricity Trading Plc (NBET).

Kyari said the 350MW project was the first phase of the planned capacity of 1,350MW Gwagwalada Independent Power Plant.

According to him, Nigeria is endowed with significant natural gas resources of over 209TCF of proven gas reserves, and potential reserve of over 600TCF.

He said as a commercial enterprise, NNPC took the project as an opportunity to monetise Nigeria’s abundant natural gas resources, by expanding access to energy to support economic growth, industrialisation, and job creation nationwide.

To achieve this national aspiration, he said, the NNPC had invested heavily in domestic gas footprint expansion projects through the delivery of the Trans-Nigeria Pipeline Project.

This, he said, included the Escravos to Lagos Pipeline System (ELPS & ELPS Il), the Obiafu-Obrikom-Oben (0B3) gas pipeline and the Ajaokuta-Kaduna-Kano (AKK) gas pipeline.

“Currently NNPC and partners are delivering about 800MW to the national grid from Afam VI and Okpai Phase One thermal power plants with combined installed capacity of 1,100MW.

“We have also completed Okpai Phase Two project that will add up to 320MW of power to the national grid and progressing with other power plant projects across the country including those along the AKK pipeline route.

“The Gwagwalada IPP is among the NNPC flagship power projects along the AKK corridor. This is part of the 3,600MW cumulative power capacity which includes Kaduna IPP (900MW) and Kano IPP (1,350MW),” he said.

He said the project would be delivered in collaboration with General Electric as the Original Equipment Manufacturer and China Machinery and Engineering Corporation as the Engineering, Procurement and Construction (EPC) Contractor.

He said just as NNPC had recently inaugurated the 50MW Maiduguri Emergency Power plant, it would continue to replicate similar viable business opportunities across the Nation to ensure energy affordability.

He, however, aknowledged the support of stakeholders including the Ministry of Power, Nigerian Electricity Regulatory Commission, Nigerian Bulk Electricity Trading Plc , Transmission Company of Nigeria, Abuja Electricity Distribution Company and Gwagwalada host community.

He assured that expanding access to energy would change the game, create a better investment climate and promote balanced economic growth, a win-win situation for the nation and for NNPC as a commercial energy company.

Kyari also acknowledged the progressive policy direction of Tinubu’s led administration to renew hope and reposition the Nigerian economy.

“The esteemed presence of Your Excellency at this event is a demonstration of your commitment and support to improve the nation’s power generation capacity to spur economic growth for our country, and for this, we are indeed grateful,” he said. (NAN)(www.nannews.ng)

=========
Edited by Chinyere Joel-Nwokeoma

Alternative Fuel: NNPC Ltd partners NIPCO on developing 56 CNG stations

Alternative Fuel: NNPC Ltd partners NIPCO on developing 56 CNG stations

By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd), has entered into strategic partnership with NIPCO Gas Limited to develop 56 Compressed Natural Gas (CNG) stations across the country.

The NNPC Ltd said the partnership was part of its commitment to reducing carbon footprint and providing cheaper alternative fuel to motorists.

Briefing journalists in Abuja on Thursday, Malam Mele Kyari, Group Chief Executive Officer, NNPC Ltd., said the initiative was in addition to the phased deployment of 56 CNG stations planned by NNPC Retail across the country.

Kyari said the collaboration would expand the country’s CNG infrastructure, improve access to CNG, and accelerate the adoption of cheaper and cleaner alternative fuel to be used by buses, cars and tricycle, popularly called Keke NAPEP.

Speaking on its price when operational, Kyari said CNG price per kg would be determined by market forces, adding that the price would be very affordable because gas was more stable than petroleum.

He said the project would bring multiple benefits to Nigerians, including access to cheaper fuel, reduced cost of transportation, reduced carbon emission, create new business value chains and streams of job opportunities.

“Under the NNPC-NIPCO strategic partnership, 35 state-of-the-art CNG stations will be constructed nationwide, including three Mother stations.

“Once fully operational, the stations can service over 200,000 vehicles daily, thereby significantly reducing carbon emissions and associated impact on climate.

“The project will be rolled out in phases. The first phase, comprising 21 CNG stations, will support intra-city transportation and be ready by the first quarter of 2024.

“The second phase, comprising 35 CNG stations, will support inter-city transformation and will be ready by the first quarter of 2025,” he said.

To deepen and sustain this initiative, the GCEO said the NNPC Ltd. had floated NNPC Prime LNG Limited for domestic LNG production and supply.

He said the deployment phases would be in Short, medium and long term.

He explained that the short term would cover immediate deployment in major cities, utilising existing NNPC Retail and NIPCOS stations to co-locate the CNG refueling stations and also provide workshop for vehicle conversion/retrofit.

“The Medium Term will cover deployment across the country to deepen the utilisation across the country to provide more vehicle conversion workshops and partner with Original Equipment Manufacturers (OEMS) for supply of re-fuelling stations, conversion kits LNG/CNG trucks, among others.

“The long term will cover In-Country Production to capture and penetrate regional markets with design and production of key refueling equipment, conversion kits among others,” he said.

He said it was also collaborating with Miju Auto Gas, a leading CNG kit OEM, based in India, to set up training and conversion centres to facilitate in-country conversion of vehicles from petrol to CNG.

According to him, NIPCO Gas Limited is currently operating 14 CNG stations across Nigeria and has converted over 7,000 vehicles to run on CNG.

He further explained that NIPCO’s technical competence and field experience will bolster the initiative’s success and amplify its positive impact on the nation’s economy.

Speaking, the Managing Director, NIPCO, Mr Nagendra verma, said working with NNPC Ltd would deepen gas utilisation.

Verma, while stating that it has 12 years experience in the distribution of auto CNG, added that NIPCO would continuously work with NNPC Ltd towards gas market expansion.

He assured that it would meet the expectations of Nigerians in providing economic fuel. (NAN)(www.nannews.ng)

=========
Edited by Vincent Obi

NUPRC dismisses allegations by in-house union

NUPRC dismisses allegations by in-house union

By Emmanuella Anokam

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday dismissed allegations of misappropriation of funds levelled against the leadership of the commission by its union members.

NUPRC management made this known in a statement issued in Abuja while reacting to the protest and allegations by the local branch of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

The union, while protesting what they termed among others, the escalating critical concerns affecting staff welfare in the commission, made several allegations against Mr Gbenga Komolafe, the Commission Chief Officer (CCE).

Responding, the NUPRC management said that the allegations were deliberately aimed at seeking cheap attention and disparaging the integrity of the commission’s chief executive for purely sinister motives.

On the matter of purported illegal recruitment, it stated that the exercise carried out by the board was done in compliance with all procedures, and compliance certificate issued by the relevant organ.

It described the accusation of ‘appalling’ workers welfare as baseless, adding that staff were granted all entitlements and were adequately paid in line with the terms and conditions of service which had been greatly enhanced over the period.

NUPRC said the issue of sundry claims and travel expenses raised during the protest were paid from time to time depending on the availability of funds.

It stated that the imputation that the management misappropriated N10 billion virement and donated billions to political parties was libellous and entirely unsubstantiated.

“The purveyors of the falsehood are challenged to publish details of the account of the commission from where the donations originated and the accounts of the political parties involved where the N4 billion and N10 billion were deposited.

“Equally, the financial source documents (invoices) utilised to make the donations ought to be published.

“There is no way N14 billion can leave the coffers of the commission without trace, especially given how funds are allocated to the commission,” it said.

It stated that there was no truth in the accusation of inflation of contracts at the NUPRC, adding that the commission approved a sustainable template for the engagement and payment of external solicitors engaged by the commission.

According to the NUPRC management, the legal fees paid by the commission comply with the limit set by the Attorney General of the Federation who has the constitutional powers to issue such fiat.

“The framework has ensured that the very best lawyers are engaged by the commission and the legal fees expended are a reflection of the complexity and high financial exposure of the cases involved.”

The NUPRC management further stated that the allegation that it wasted N900 million on “dubious” sensitisation workshops, was without basis.

It added that adequate sensitisation of key provisions of the Petroleum Industry Act (PIA) 2021 were necessary to ensure effective implementation.

“Specifically, justification for sensitisation on the provisions of Host Communities Development Trust (HCDT) across the Niger Delta region is apparent due to the high level of crude oil theft and vandalism of petroleum infrastructure with its devastating impact on Federation revenue.

“The sensitisation workshops were approved by the appropriate authority in line with due process and duly executed by the Health, Safety, Environment and Community (HSEC) department in line with the scope of duties and responsibilities.

“It is important to note that 13 slots of sensitisation campaigns were earmarked upon in 13 strategic locations within the oil producing zones and the campaigns are still ongoing.

“All documentary evidence including publications and video footage of the campaigns can be sought and obtained from the executive commissioner HSEC,” it said.

On the claim that it allegedly spent N500 million on renovations, it said it inherited offices used by the defunct Department of Petroleum Resources (DPR), which was only a subsidiary of the defunct Nigerian National Petroleum Corporation (NNPC).

“The appointment of executive commissioners and recruitment of 140 extra staff given the new and added responsibilities of the NUPRC necessitated reorganisation and renovation of the commission’s offices across the country to accommodate its operations.

“Therefore, some of the offices, including those in the zones and fields, had to be restructured, refurbished and furnished to accommodate additional personnel and replace old and damaged furniture and equipment inherited at inception.”

The NUPRC said it didn’t spend N1.5 billion on luxury transportation, including flying private jets and first class, insisting that there was no time that the commission chartered private jets for the commission’s chief executive.

“The purveyors are challenged to publish the account details and invoices supporting the transactions in their nefarious claims.

“The terms and conditions of service as approved by the governing board in accordance with the provisions of the PIA clearly stipulate the classes of tickets for the purpose of international travel for all categories of staff including the commission chief executive.

“It is worth indicating here that the CCE is not a sole administrator, but operates under the guidance of supervisory structures emplaced by the PIA 2021 and the federal government.”

They union had on Tuesday and Wednesday held protests and barricaded the office entrance, alleging poor welfare, non-payment of outsourced personnel and 2023 staff medicals as well as outstanding upfront allowances.

Others according to them include non-remittance of pension deductions from staff salaries, poor working environment, insufficient working tools and outstanding salaries payment, among others. (NAN)(www.nannews.ng)

=========
Edited by Emmanuel Afonne

Group tasks Tinubu on modular, local refineries

Group tasks Tinubu on modular, local refineries

By Deji Abdulwahab

The Niger Delta Youth Council (NDYC), has urged President Bola Tinubu to revive the Port Harcourt and Warri refineries to ensure local refining of petrol.

Mr Jator Abido, the National Coordinator of the council, said this in a statement in Abuja on Thursday.

Abido said that granting more modular refineries’ licenses would also ensure self-sufficiency in the energy sector as well as empower Nigerians.

He added that with the hardship caused by the removal of subsidy on petrol and the soaring prices of refined products, the revival of Port Harcourt and Warri refineries were critical priorities.

“With the potential to stimulate economic growth and create job opportunities, the region stands to gain greatly from the resumption of operations in these refineries.

“It is also our hope that Modular Refining licenses, if granted, will drive local content within the oil and gas sector, promoting self-sufficiency in the energy sector and empowering Nigerians.

“For a very long time, seaports and inland waterways from the region have been abandoned in favour of the Apapa and Tin Can Island Ports in Lagos.

‘’This has slowed down development of the country and the region in particular especially as port operations create direct and indirect jobs as well as other spillover effects on the economy,’’ he said.

Abido added: “The commencement of operations in Port Harcourt, Onne, Calabar, Warri, Koko and other seports in the region will unlock economic potentials of Nigeria and contribute extensively to the region’s growth.” (NAN) (www.nannews.ng)

Edited by Deborah Coker/Ali Baba-Inuwa

We don’t owe staff salaries, claims already processed – NUPRC boss

We don’t owe staff salaries, claims already processed – NUPRC boss

By Emmanuella Anokam

The management of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it does not owe staff salaries and that all unpaid claims of the protesting staff have been processed.

Mr Gbenga Komolafe, Commission Chief Executive (CCE), NUPRC, disclosed this in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja.

Komolafe spoke sequel to the two-day protest by some staff of the commission who are aggrieved with the management over non-payment of allowances and seven months outstanding salary.

The protesting staff demanded the sack or resignation of Komolafe.

They also alleged poor welfare, non-payment of outsourced personnel and 2023 staff medicals, outstanding upfront allowances, non-remittance of pension deductions from staff salaries, poor working environment, insufficient working tools and outstanding salaries payment, among others.

The protesters made up of staff of the local branch of the Petroleum and Natural Gas Senior Staff Association of Nigeria, had on Tuesday and Wednesday barricaded the entrance of the head office of the NUPRC in Abuja.

Komolafe, however, told NAN that outstanding entitlement (claims) and all issues the protesting staff raised and itemised in their letter dated July 31 had been settled because the payments had already been processed.

He said obligations relating to claims made by the union had been fulfilled and efforts were already in place to achieve closure on the pending items.

Komolafe said the management found the protest strange because it had earlier invited the staff to meet with the commissioner to ensure that their demands were met and also ascertain what had been paid and if there were still outstanding.

“Engagement is ongoing, while the true financial status of the commission has already been made known to the staff by the management,” he said.

He said the claims fell under recurrent expenditure that no organisation could have the money at once to settle but rather could prioritise according to the availability of fund.

“Funds availability dictates that you have to prioritise and that happens everywhere. No nation, no company has all the funds at the same time, it is a reality, so you manage your cash flow.

“They are my staff and the commission believes that workers are essential resources and most important human capital, so we have robust industrial relations.

“The protest is very outrageous, I have not done anything personal, neither have I committed any offence nor violated anything. All they put on ground is that they have outstanding claims which are purely financial.

“How will that amount to calling for my sack, if there are no ulterior motives?,” he asked.

Komolafe explained that asides for the claims which were delayed by availability of funds, salary and allowance were paid constantly and before the 30th of every month.

“Obligations are always higher than the resource you get, the money you get is always lower than your needs. When it comes to that you will now be rationing and prioritising.

“If Microsoft subscription is expiring, would you want to pay claims and leave the subscription that can shut the whole system down?,” he queried.

Komolafe described the chief executive officer of any organisation as the chief accounting officer that had to prioritise payments accordingly.

He further said that while he was away on an official trip, the commission’s Finance Executive Commissioner informed him of available fronts, because the management always took decisions based on incoming fronts.

According to him, within 10 minutes that the commissioner informed him, he immediately approved that all the pending claims should be settled.

“That fact is there,” he added.

Komolafe said that on his return, he requested to know whether those claims were being paid and the commissioner confirmed that the payments were ongoing but the remitter platform which was outside the purview of the commission was having technical issues.

However, he said the commissioner confirmed that all the payments had been processed based on availability of funds. (NAN)(www.nannews.ng)

=========
Edited by Chinyere Joel-Nwokeoma

OGFZA targets .97bn by 2025

OGFZA targets $15.97bn by 2025

By Bukola Adewumi

The Managing Director, Oil and Gas Free Zones Authority, Nigeria (OGFZA), Sen. Tijjani Kaura, says the free zones would attract a total of 15.97 billion dollars investment to Nigeria’s Gross Domestic Product (GDP) by 2025.

Kaura made this known at a maiden media parley on Wednesday in Abuja, where he rolled out the achievements of the agency as he marked one year in office in Abuja.

He said ”the OGFZA regulates eight free zones, six of them are fully operational while the remaining two are at various stages of completions.”

According to him, these zones are evolving well and are making impactful contribution to the nations economy.

“The zones includes Onne Oil and Gas Free Zone, Warri Oil and Gas Free Zone and Eko Support Oil and Gas Free Zone.

“Others includes Brass Oil and Gas Free Zone, Notore Oil and Gas Free Zone, Liberty Oil and Gas Free Zone, Bestaf Maritime and Industrial OGFZ and OGFZ-SBA Free Zone a newly declared zone with licence in progress.”

OGFZA boss said the authority had recorded achievements in quantitative terms, which has contributed significantly on the nation’s GDP in the last two decades.

He noted that it attracted foreign direct investment of 21.6 billion dollars.

According to him, it has technical skills to 35,330 Nigerians and generated direct employment for 41,085 persons and indirect employments for 164,000 persons at the same period.

“OGFZA has generated billions of revenue for government from 2018 to 2021, this includes the customs duty N119 billions for goods exported from free zones to customs territory.

“It also includes withholding tax of N10.4 billion for transaction carried out between free zone enterprises and non – free zone licensees and Value Added Tax(Vat) of N9. 5 billion for transaction carried out.”

He, therefore, appealed to the Federal Government to look into some of the issues affecting the agency that could stall the growth of business for investors in the country.

He said one of the major challenges bedeviling the free zone activities was the deplorable state of roads in Port Harcourt, and Akwa Ibom.

According to Kaura , the problem of regulatory interference due to lack of understanding of the nature of operation of free trade zones, he however said there was need to update the law setting up the authority to meet present day realities.

He also appealed to President Bola Tinubu to create an enabling business environment to attract more investors into the country.

The News Agency of Nigeria (NAN) reports that OGFZA was established in 1996 as the first government agency in the world dedicated for the regulation of Special Economic Zone(SEZ) in the energy industry.

OGFZA is the premier agency of government responsible for promoting, securing and sustaining investments in the oil and gas free zones in the country. (NAN)(www.nannews.ng)

========
Edited by Isaac Aregbesola

X
Welcome to NAN
Need help? Choose an option below and let me be your assistant.
Email SubscriptionSite SearchSend Us Email