September 16, 2024

NEWS AGENCY OF NIGERIA

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1 Culture: China reaffirms commitment to strengthen ties with Nigeria

2 Nigeria’s road to vaccine self-sufficiency: The challenges, prospects

3 Foundation urges government to address hospital malnutrition

4 Information minister lauds retired PS, commits to mandate

5 Africa at critical junction in search for peace –Ibn Chambas

NNPC Ltd’s Chief Upstream Investment Officer, Mr Bala Wunti (2nd from right) and Managing Director/Chief Executive, TotalEnergies Upstream Companies in Nigeria, Matthieu Bouyer (3rd from right) signing a Final Investment Decision (FID) agreement on the Ubeta Field Development Project at the NNPC Towers in Abuja. Watching keenly are the Honourable Minister of State for Petroleum Resources (Oil) Sen. Heineken Lokpobiri; Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo; GCEO NNPC Ltd, Mr Mele Kyari; Special Adviser on Energy to the President, Olu Verheijen and Senior Vice President for Africa, Mike Sangster
General News

NNPC Ltd.-TotalEnergies JV announces $550m FID on Ubeta field dev’t project

By Emmanuella Anokam

The NNPC Ltd.-TotalEnergies Joint Venture (JV) has announced a 550 million dollars Final Investment Decision (FID) on the Ubeta Field Development Project.

This was announced on Thursday at the signing ceremony held at the Nigerian National Petroleum Company Limited (NNPC Ltd.) Towers, Abuja.

The milestone is in line with President Bola Tinubu’s Presidential Executive Order on Oil and Gas Reforms, aimed at improving the investment climate and positioning Nigeria as the preferred investment destination for the Oil and Gas sector in Africa.

The Ubeta field was discovered in 1964, in the North-West of Port Harcourt in the eastern part of the Niger Delta.

Once on stream, it will produce about 350 million standard cubic feet per day (MMScf/day) of gas and 10,000 BBLS/day of associated liquids.

It will tap into the vast gas reserves and contribute towards securing gas supply to the Nigeria Liquefied Natural Gas (NLNG).

Malam Mele Kyari, Group Chief Executive Officer, NNPC Limited said the milestone was a major step towards boosting Nigeria’s oil and gas production.

Kyari expressed appreciation to the president for providing the appropriate fiscal environment and facilitating a conducive operational environment as a major enabler in achieving this success.

The GCEO, while appreciating the industry stakeholders for their continuous support, lauded the Federal Government’s Presidential Executive Orders for Fostering Growth in Nigeria’s Oil and Gas sector.

“The Presidential Executive Order is instrumental to us getting to this significant milestone and we are now seeing the impact of the policy,” Kyari said.

In his remarks, Mike Sangster, Senior Vice-President Africa, Exploration and Production, TotalEnergies, described Ubeta as the latest in a series of projects developed by the oil giant in Nigeria, most recently Ikike and Akpo West.

“I am pleased that we can unveil this new gas project which has been made possible by the Federal Government’s recent incentives for non-associated gas developments.

“Ubeta fits perfectly with our strategy of developing low-cost and low-emission projects, and will contribute to the Nigerian economy through higher NLNG exports,” he said.

Earlier in his remarks, the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, said Tinubu had significantly rekindled investor’s confidence in the Oil and Gas Industry, assuring Nigerians that more investments were on the way.

Also speaking, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the project was a testament to the effectiveness of government’s policies aimed at creating a conducive environment for investment in the gas sector.

Located in OML58, the Ubeta gas condensate field will be developed with a new 6-well cluster connected to the existing Obite facilities through an 11km buried pipeline.

Production start-up is expected in 2027, with a plateau of 300 million cubic feet per day (about 70,000barrels of oil equivalent per day including condensates).

Gas from Ubeta will be supplied to NLNG, a liquefaction plant located in Bonny Island with an on-going capacity expansion from 22 to 30 Mtpa, in which NNPC Limited holds a 49% interest.

Ubeta is a low-emission and low-cost development, leveraging OML58 existing gas processing facilities.

The carbon intensity of the project will be further reduced through a 5 MW solar plant currently under construction at the Obite site and the electrification of the drilling rig.

TotalEnergies is working closely with NNPC Limited to enhance local content, with more than 90 per cent of man-hours which will be worked locally.

The Ubeta FID justifies the effort invested by NNPC Limited, with unyielding Executive support, into tackling the underlying reasons that have plagued the attractiveness of the Nigerian oil and gas industry to foreign investors in recent years.

The Ubeta project has a robust Nigerian Content plan and is poised to stimulate economic activities, create job opportunities, and create significant value for stakeholders.(NAN)(www.nannews.ng)

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Edited by Bashir Rabe Mani

(L-R) Mrs Emmanuella Arukwe, Managing Director, NNPC Foundation Ltd. and Hajiya Jammaylah Yakubu, Principal, Government Day Secondary School Wuse 2, Abuja, planting trees in the school premises, to mark World Environment Day.
Environment , Oil & Gas

Desertification: NNPC Foundation plants 500 trees, targets 1million

By Emmanuella Anokam

The NNPC Foundation Ltd./Gte has planted 500 trees across the country through environmental clubs in public secondary schools, to tackle desertification and environmental degradation.

The Foundation also said that based on criticality and needs assessment, it had also commenced engagements with the Katsina State Government to plant one million trees in the state.

“We will be embarking on the first phase of the one million tree planting in July this year,” said Mrs Emmanuella Arukwe, Managing Director, NNPC Foundation Ltd.

Arukwe made this known on Wednesday at a Ceremonial Tree Planting at the Government Day Secondary School, Wuse 2, Abuja, to mark the 2024 World Environment Day (WED).

The News Agency of Nigeria (NAN) reports that the World Environment Day is celebrated globally every June 5, and the 2024 edition has its theme as “Land Restoration, Desertification and Drought Resilience”.

NAN also reports that the NNPC Foundation Ltd. is the social arm of the Nigerian National Petroleum Company Limited (NNPC Ltd.) and one of the key areas of its Corporate Social Responsibility (CSR) intervention programmes is in the environment.

Its school tree planting campaign to mark the World Environment Day involved over 500 school children in selected parts of the country, who are provided with tree seedlings for planting, which was carried out simultaneously.

Arukwe, while speaking, said one of the menaces of the environment and ecosystem was desertification, hence planting trees and restoration of degraded land were necessary.

“Today is World Environment Day, we are so excited about doing this, which is being done simultaneously across other states including Enugu, Bauchi, Lagos and Edo; we are in the forefront of advocating for this to be done.

“The young people still have a long future ahead, and because of that it is important they get enlightened and educated on the importance of planting trees.

“We are here in this school to plant trees; apart from its beautification and economic impact, it also reduces carbon dioxide and balances the ecosystem.

“We and the environment are symbiotic; whatever we do, affects us ultimately. We need to desist from cutting down trees and usage of biomass for cooking.

“We want to ensure that we are not only encouraging the children to plant, but to set up a mechanism for monitoring the planted trees for maximum impact and sustainability in the long run,” she said.

Arukwe further said that the Foundation would organise a prize giving event for the schools and students, for the best cared or nurtured tree in 2025.

She listed addressing land erosion, desertification and drought, climate regulation, oxygen production, wildlife preservation, air purification, noise reduction, social and economic benefits as some of the benefits of tree planting.

In a presentation, Mrs Lolade Oduwole, Manager, Fund Raising, NNPC Foundation, sensitised the pupils on global warming, adding that the increase in temperature worldwide had become alarming as human activities had affected the ecosystem.

Oduwole called for generation restoration by planting trees to restore desert, prevent global warming, maintain healthy environment, provide shed and climate regulation as well as promote oxygen production, essential for human lives.

In her remarks, the Principal of the school, Hajiya Jammaylah Yakubu, while emphasising the need to take care of the environment, promised to sustain the campaign by nurturing the trees.

Yakubu also commended the NNPC Foundation for setting up a Science, Technology, Engineering and Mathematics (STEM) Mini Science Library in various schools across the country, including the Government Day Secondary School.

The pupils, who were also allowed to plant trees by themselves, were full of excitement for participating in the environmental preservation.

They vowed to intensify the campaign against environmental degradation.

The Foundation also planted trees in some schools in Gwagwalada and Kuje Area Councils of the FCT and other states. (NAN) (www.nannews.ng)

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Edited by Emmanuel Afonne

Officials and some students during the tree planting by NNPC Foundation Ltd at the Junior Secondary School, Hajj Camp, Gwagwalada on Wednesday.
Environment , Oil & Gas

NNPC foundation reiterates commitment to restoring Nigeria’s landscape, greener future

By Lucy Ogalue

The Nigerian National Petroleum Company (NNPC) Foundation Ltd., has reiterated its commitment to restore Nigeria’s landscape and build a greener future for all citizens.

The Foundation’s Managing Director, Mrs Emmanuella Arukwe, said this at the planting of trees at the Junior Secondary School, Hajj Camp, Gwagwalada.

Arukwe, represented by Dr Bala David, the Executive Director, Programme Development, NNPC Foundation, said the importance of tree planting could not be overemphasised.

“We are here to mark World Environment Day, which is celebrated every June 5, and we have come to celebrate it with the pupils of Junior Secondary School, Hajj Camp, Gwagwalada.

“We had a session with the students on the Foundation and what we do. We are mandated to operate in the environment, health and education areas.

“So, being the world’s environmental day, we came here to be able to plant trees that will eventually restore the environment,” she said.

The principal of the school, Hajia Hauwa Aliyu, said collective climate action was needed to protect our environment.

“This day aims at encouraging communities to take action towards protecting their environment.

“As our climate changes and its impact continues to affect us, we must continue to find sustainable ways to protect it for future generations,” she said.

The principal, while commending the group for their efforts in restoring the school’s environment, said she was surprised by the team’s presence.

“I feel great that the NNPC Foundation remembered my school and is here to celebrate this remarkable day with us.

“When I was called yesterday, I did not believe it was real until I saw you here. I am very happy, and the students are equally very happy.

“Your presence today has taught me and the whole school a lot of things that we did not know about the environment and the need for it to be restored,” she said.

The principal then expressed the school’s commitment to ensure that the trees planted were cared for for the benefit of the students and Nigerians.

“I have a team of agricultural science teachers on ground, and I have given them the mandate to ensure the sustainability of this project.

“And I assure you that they will do their best to take care of the trees being planted today,” she said.

Meanwhile, Mr Abe Ajayi, the Vice-President, Association of Flower and Nursery Practitioners Abuja, said tree planting was important because it sustained life.

“Some of these trees have economic and health benefits. So it is key that we plant trees.”

He advised against cutting down trees, saying it was better to trim them instead of cutting them and distorting nature.

A student, Etuka Smile, expressed pleasure at the idea of planting trees in her school.

“I feel great about what is happening here because I want the environment to be clean. “I want to advise those cutting down trees to stop, as it is affecting our climate and living standard.

Another student, Sanusi Alamin, said, ”I am very happy that we got to celebrate World Environmental Day in our school today.”

“There are some areas I know without a single tree where one can have shade, and I wish this kind of exercise would reach such places.

“So that the people will understand the advantages of planting trees, what it signifies and be inspired to plant trees for the good of our environment.” (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

Mrs Emmanuella Arukwe, the Managing Director, NNPC Foundation Ltd., said this at the 2024 World Environment Day (WED) in partnership with the Ministry of Environment on Wednesday in Abuja
Environment , Oil & Gas

World Environment Day: NNPC Foundation seeks to mitigate desertification, degradation

By Emmanuella Anokam

The NNPC Foundation Ltd. says it is focused on mitigating land erosion, desertification and drought by re-vegetating the environment through aggressive tree planting campaigns.

Mrs Emmanuella Arukwe, the Managing Director, NNPC Foundation Ltd., said this at the 2024 World Environment Day (WED) in partnership with the Ministry of Environment on Wednesday in Abuja.

The News Agency of Nigeria (NAN) reports that the WED is celebrated globally every June 5.

The theme for 2024: “Land Restoration, Desertification and Drought Resilience.”

Arukwe who described the environment as being intricate noted that it must be preserved by creating a balance in the ecosystem.

Arukwe, represented by Mr Aminu Muazu, Executive Director, Programme Management, NNPC Foundation, said environmental degradation could be mitigated through partnership with relevant government agencies.

According to the United Nations Convention to Combat Desertification, about 40 per cent of the world’s land is degraded, directly affecting half of the global population, threatening economies and means of livelihood.

The convention also said that drought increased by 29 per cent since the year 2000 and if persistent, may effect over three quarters of the global population by 2050.

Nigeria, according to the United Nations, has the highest deforestation rate in the world, with an estimated 3.7 per cent of its forest lost every year.

She said that 15 out of the 35 states, predominantly in the northern part of the country, are affected by desertification.
Arukwe added that 63.3s per cent of the country’s entire land mass suffer desert encroachment.

She said land mass vegetation, farmlands agro-economies and other means of livelihood in the country were fast being overtaken by the twin challenge of desertification and drought.

Based on this, she said part of its efforts at the NNPC Foundation, was to mitigate land erosion, desertification and drought by re-vegetating the environment, through aggressive tree planting campaigns.

“I extend to you compliments from the NNPC Ltd. management and its Group Chief Executive Officer, Malam Mele Kyari, who is passionate about executing positive and impactful Corporate Social Responsibility (CSR) programmes in the country.

“As a recently transited privately company, NNPC Ltd. is positioned to align with global best practice in the energy industry and is committed to the Sustainable Development Goals.

“The NNPC Foundation was established as the social arm of NNPC Ltd. to be the connect between the stakeholders who are the over 200 million Nigerians and the company, through execution of impactful and sustainable CSR initiatives/projects.

“One of the key focus areas of NNPC Foundation is to undertake impactful initiatives on environment and in commemoration of the 2024 World Environment Day; we have lined up strategic programmes.

“These include tree planting campaigns in schools, sponsorship of quizzes/competitions to celebrate the day, presentations to school children and other events all targeted to sensitising the citizenry on environmental preservation,” she said.

She said our existence with that of our environment was interwoven and we were mutually bound to our environment and must be careful not to hurt it through our activities.

She listed such activities as tree cutting, indiscriminate timber logging business, bush burning and others, adding that by so doing, we tend to hurt our own very existence.

Arukwe called for collective affirmative action of responsibility for the survival of our immediate environment and in essence, bring about positive spiral effects of our action to the global habitat.

“It is most pertinent that we intentionally work toward sustaining the balance in our ecosystem, by keeping our planet replenished with its natural forms and maintain its equilibrium,” she said.

NAN reports that the highlights of the event were environmental preservation sensitisation, enlightenment programmes and ceremonial tree planting at some schools in the Federal Capital Territory. (NAN)(www.nannews.ng)

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Edited by Chinyere Joel-Nwokeoma

NNPC Limited logo
Oil & Gas

ISPS Certification: NNPC Ltd. sustains move towards regulatory excellence

By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd.), has reiterated its commitment to sustain its move towards process improvement, regulatory compliance and performance excellence.

This is coming as the NNPC Ltd. bagged the Nigerian Maritime Administration and Safety Agency’s (NIMASA) Compliance Certification on Ship, Port Security.

Mr Inuwa Danladi, the Executive Vice President, Business Services, NNPC Ltd. said this while speaking on the recent certification of the International Ship and Port Facility Security (ISPS) Code Compliance obtained by the Company, from NIMASA.

The ISPS certification, issued in April 2024 and covering all NNPC Ltd. jetties nationwide, is crucial for the Company’s business continuity as it prevents potential operational disruptions and financial losses.

Danladi on Sunday in a statement issued by Olufemi Soneye, the Chief Corporate Communications Officer, NNPC Ltd. said the certification also granted the Company entry into the Global Integrated Shipping Information System (GISIS).

This, he said would enhance its reputation as a safe and reliable business destination and potentially reducing the company’s insurance premiums.

He listed some of the rigorous processes followed in obtaining the certification to include the upgrading of relevant security facilities at the nation’s ports and jetties and the establishment of the ISPS Code Command Centre.

He also included the engagement of NIMASA Recognised Security Officer (RSO), who played a crucial role in managing key regulatory processes.

“The development of Port Facility Security Assessment (PFSA); Port Facility Security Plan (PFSP), coupled with the meticulous Verification Inspection Exercise (VIE) from NIMASA.

“It also underscores NNPC’s commitment to ensuring adherence to the highest standards of maritime security in the Company’s operations.

“This achievement is a testament to our consistent dedication, and we pledge to continue striving towards attaining regulatory excellence in all our operations,’’ Danladi said. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

ExxonMobil and Seplat Energy logo
Oil & Gas

NNPC Ltd., ExxonMobil sign agreement on $1.28bn asset divestment deal

By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Thursday announced the signing of a settlement agreement facilitating the divestment of ExxonMobil’s stake in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Plc.

This is coming two years after the divestment plan was announced.

The NNPC Ltd., in a statement said the agreement involved MPNU, Mobil Development Nigeria Inc., and Mobil Exploration Nigeria Inc.

“Settlement agreement between NNPC Ltd. and MPNU, Mobil Development Nigeria Inc., and Mobil Exploration Nigeria Inc. signed regarding the proposed divestment of a 100 per cent interest in MPNU to Seplat Energy Offshore Limited,” the NNPC stated.

This development comes after a directive from President Bola Tinubu to the Ministry of State for Petroleum Resources (Oil) and NNPC Ltd. on May 28, to resolve the divestment issue that stalled the Seplat and ExxonMobil deal over two years.

Tinubu had assured the ExxonMobil delegation that the Federal Government was committed to resolving the divestment issues between NNPC Ltd. and Seplat Energy.

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri said the President had given a clear directive to him and the NNPC Ltd. Group Chief Executive Officer, Malam Mele Kyari to resolve the issue of divestment, which they were doing their best to achieve.

Lokpobiri earlier revealed that Nigeria lost 34 billion dollars in the last two and a half years due to the fall in production from the assets being divested by ExxonMobil to Seplat Energy.

He said the assets declined from 600,000 barrels per day (bpd) to current 120,000bpd, leaving a shortfall of 480,000bpd.

This, he said, amounted to 34 billion dollars loss at a conservative 80 dollars per barrels, in the last two and a half years.

In February 2022, Seplat announced an agreement to acquire ExxonMobil’s 40 per cent stake in MPNU, expecting the transaction to be completed in the second half of the year.

However, on May 19, 2022, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) declined to approve Seplat’s proposed acquisition, citing “overriding national interest.”

Two months later, Seplat reported that NNPC Ltd. had secured a court injunction preventing ExxonMobil from selling its assets in Nigeria.

This opposition led former President Muhammadu Buhari, to reverse his initial authorisation for the acquisition on August 10, 2022, shortly after granting approval.

Amid the delay in securing approval, Seplat extended the Share Sale and Purchase Agreement (SSPA) with ExxonMobil for the acquisition of its stake in MPNU in May 2023.

On May 17, Seplat indicated progress in acquiring MPNU assets, and a week later, the company extended the SSPA again.

With the recent signing of the settlement agreement, Nigeria could add at least 700,000bpd to its current daily crude oil production volume, to hit about two million bpd before the end of the year. (NAN)(www.nannews.ng)

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Edited by Rabiu Sani-Ali

L-R: Mr Ifedayo Abegunde, Executive Director, Corporate Services, Niger Delta Development Commission (NDDC); Deputy Governor of Bayelsa, Sen. Lawrence Ewhrudjakpo; Minister of Niger Delta, Mr Abubakar Momoh and MD/CEO NDDC, Dr Samuel Ogbuku, during the inauguration of the 25.7km Ogbia-Nembe Road in Bayelsa
Niger Delta , Oil & Gas

NNPC Ltd, partners, NDDC inaugurate N24.5bn Ogbia-Nembe road

By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture (JV) partners, in collaboration with the Niger Delta Development Commission (NDDC), have inaugurated the 25.7km Ogbia-Nembe road in Bayelsa State.

The JV partners are Shell Petroleum Development Company (SPDC), TotalEnergies and Nigeria Agip Oil Company (NAOC).

The Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, said on Tuesday in a statement that the milestone was part of activities to mark the one year anniversary of the President Bola Tinubu administration.

The project, valued at N24.5billion, traverses mangrove forests with seven bridges and five culverts, connecting 14 communities.

Speaking at the inauguration in Nembe, Bayelsa, the President, represented by the Minister of the Niger Delta, Mr Abubakar Momoh, said the project aligned with the administration’s “Renewed Hope Agenda” for sustainable development in the region.

Tinubu, who described the project as an evidence of what good partnerships could bring to communities, urged other oil companies to collaborate with the NNPC Ltd. and the NDDC to deliver transformative projects.

Earlier in his remarks, Mr Bala Wunti, Chief Upstream Investment Officer, NNPC Ltd., represented by Mr Obinna Aralu, expressed satisfaction with the completion of the road, describing it as a testament to the power of collaboration and shared vision.

He said the road was more than just infrastructure as it symbolised progress, connectivity and opportunities for the Nembe people through seamless transportation, increase in economic activities and general improvement in the quality of life.

Wunti also thanked all the partners and stakeholders for their contributions to the successful delivery of the project.

The Managing Director of SPDC and Country Chairman of Shell Companies in Nigeria, Mr Osagie Okunbor, highlighted the transformative impact of the project, stressing that it would connect communities to the city centre, boost economic activities and reduce the risks associated with river transport.

Okunbor reiterated Shell’s commitment to partnering with government agencies to deliver projects that are beneficial to the people of the Niger Delta region and Nigeria in general.

Also speaking, the Managing Director of NDDC, Dr Samuel Ogbuku, said the commission was dedicated to completing projects across the Niger Delta region that serve the urgent needs in the communities.

The Bayelsa State Governor, Sen. Douye Diri, represented by his Deputy, Sen. Lawrence Ewhrudjakpo, commended the NDDC, NNPC Ltd and its partners for the project.

The epoch-making event was highly attended by top government officials and traditional rulers from Bayelsa, including the Senate Committee Chairman on Niger Delta, Sen. Asuquo Ekpeyong.

Others are the Chairman, House of Representatives Committee on the Niger Delta, Mr Erhiatake Ibori-Senu; Chairman of NDDC Governing Board, Mr Chiedu Ebie; the Amayanabo of Nembe Kingdom, King Edmund Mingi XII and the Obanobhan of Ogbia Kingdom, King Dumaro Charles Owaba III.

The completion and commissioning of the Ogbia-Nembe road marks a significant milestone in the ongoing efforts by the NNPC Limited and its partners to enhance infrastructure and promote sustainable development in the Niger Delta region. (NAN)(www.nannews.ng)

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Edited by Emmanuel Afonne

Inaugurated board of trustee members of NNPC E&P Limited (NEPL), a subsidiary of NNPC Limited
Oil & Gas

NEPL inaugurates board of trustee for host communities in Edo

By Nefishetu Yakubu

The NNPC E&P Limited (NEPL), a subsidiary of NNPC Limited on Friday inaugurated a board of trustee each to manage the 14 host communities in its area operations as contained in the Petroleum Industry Act (PIA).

The benefiting communities are Umuedeokwara Odagwa, Uherevie, Warnog, Utrew, Benin River, Agura, Kanodi, Okoea, Egboajudieba, Isoiteija, Abuowaska, Moamog, Asa Pinnacle and Odikan

The News Agency of Nigeria (NAN) reports that NEPL is required to make an annual contribution of 3 per cent of its operating expenditure in the Upstream Petroleum to the communities.

Inaugurating the Boards in Benin, Oritsemeyiwa Eyesan, Executive Vice President, Upstream, NNPC Limited, commended the Federal Government for implementing the PIA.

Eyesan said that the essence of the boards was to ensure that the host communities were positively impacted from the resources that was coming from the exploration of oil and gas.

“We are here to inaugurate 14 host communities development trust fund as stipulated in Chapter Three of the PIA.

“So, inauguration of the boards is a major milestone for us because it brings the communities and the Settlor together to chat a positive path for community development.

“In the past, we had Global Memorandum of Understanding (GMOU) that enabled the development of communities but the trust fund is more effective.

“It ensures that the communities are empowered economically, socially and are sustainably represented in our operations.

“So, it is a great milestone for us because it is not an easy feat to get communities to agree to come together,” she said.

Eyesan said that with the establishment of these trust funds and their boards, the company was confident that it would have less negative impact on its pipelines and infrastructure.

She encouraged the trustee members to work with the company and the communities to ensure that NNPC facilities were protected to enhance production.

The Managing Director, NEPL, Nicolas Foucart, said the board members had received a one-day intensive training that would guide them through their assignment.

Foucart noted that the boards were saddled with the responsibility of ensuring that the trust funds were judiciously used to develop the various communities.

He said the NEPL was committed to ensuing transparency and accountability in oil exploration in its host communities.

“We believe that your participation is crucial in shaping the future of our host communities and the company,” he said.

He disclosed that NEPL had embraced several engagement models for its host communities which had grown from just 13 communities in 1989 to over 600.

According to him, it may interest you to know that NEPL was established as NPDC in 1989 with a production target of 1,000 barrel of oil per day from one onshore mining lease.

“Today, NEPL has grown and recording production target of 300,000 barrel of oil per day,’’ he said.

In her goodwill message, Mrs Lara Coker, General Counsel, Shoreline Natural Resources Ltd, urged the trustees to work and ensure they exceeded the expectations of NEPL.

According to her, I want to encourage you all to be up and doing so that by next year, we will have loads of projects to commission.

Mr Ben Igbakpa, one of the boards’trustee members, thanked NEPL for the opportunity to serve adding that the inauguration was better late than never.

Igbakpa assured that each of the board of trustees would work together to attract development and better the lives of the host communities. (NAN)(www.nannews.ng)

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Edited by Ifeyinwa Okonkwo/Joe Idika

Amb. Nicholas Ella, Permanent Secretary, Ministry of Petroleum Resources
Oil & Gas

Technical team validates Nigeria’s bid to host $5bn AEB Headquarters

By Emmanuella Anokam

A Joint Technical Inspection Team has validated Nigeria’s readiness to host the headquarters of the five billion dollars African Energy Bank (AEB) in the country.

The AEB is set to be established in Nigeria in July 2024.

The technical inspection team is from the African Petroleum Producers Organisation (APPO) and Afrexim Bank- the joint promoters for the Establishment of the African Energy Bank.

This is contained in a statement by Amb. Nicholas Ella, Permanent Secretary, Ministry of Petroleum Resources, on Friday in Abuja.

Sequel to the first bidding round in early 2024, Nigeria, Ghana, Benin and Algeria pre-qualified to proceed to the final round of the exercise.

These countries will compete for the right to host the Supranational Multilateral five billion dollars bank, to stimulate financing of the Africa’s hydrocarbon deposits of oil, gas and condensates, support energy transition and net zero 2060 commitments.

Ella said in its preparation for the bid, the Ministry of Petroleum Resources sought and obtained expert opinions from the Federal Ministry of Justice and consultants in January 2024.

“They reviewed and approved the Bank’s proposed Charter Establishment Agreement, the Treaty and Headquarters Host Agreement. This approval provided the impetus to proceed, and the Federal Executive Council and National Assembly are currently finalising the ratification process.

“This will ensure that the AEB receives the necessary privileges and immunities to operate in line with its global vision.

“To demonstrate the country’s commitment, Nigeria has identified a prestigious building in Abuja for the temporary headquarters and opened a secured data room for the technical team’s review.

“The application form for land for the permanent headquarters in the Central Business District of Abuja has been submitted for approval,” Ellz said.

He said that President Bola Tinubu had approved 100 million dollars investment from four Agencies of the Ministry of Petroleum Resources, exceeding the minimum equity requirement of 83.33 million dollars for class A shares.

This decision, he said positioned Nigeria favourably to win the bid, potentially reshaping the country’s oil and gas ecosystem.

According to Ella, Nigeria is working diligently through the Nigerian National Petroleum Company Limited (NNPC Ltd.), and the Nigerian Content Development Monitoring Board (NCDMB), to meet all eligibility criteria.

He said the five billion dollars bank, when headquartered in Nigeria, shall be the largest single Foreign Direct Investment (FDI) inflow into Nigeria in over two decades with its numerous benefits.

“The Africa Energy Bank ecosystem shall rank as the third largest bank in Africa and shall be the most prominent bank in Nigeria in terms of shareholders’ funds.

“It will significantly boost Nigeria’s Gross Domestic Product, Employment, Financial Architecture and Inclusion, and propel our economic diversification while supporting foreign exchange management strategies.

“It will pivot exploration and investment initiatives by our Independent Petroleum Producers, commercial service providers, legal and local content drivers, and technology and skills development that will leverage the bank’s proximity to the market and scale up production.

“The five billion dollars AEB is expected to grow its assets to over 120 billion dollars in seven years, thus becoming a source of sustainable FDI for Nigeria that supports our vision 2030 ambitions,” he said.

The bank upon take-off is expected to attract an additional two billion dollars equity in classes B and C from African Sovereign wealth funds, national oil companies, and other institutional investors whose investment objectives are aligned with the vision and mission of the bank.

Afrexim-Bank board has committed to invest 1.250 billion dollars, as a major investor in class A shares alongside the APPO members club. (NAN)(www.nannews.ng)

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Edited by Rabiu Sani Ali

L-R: Secretary General, African Petroleum Producers Organization (APPO), Dr. Omar Farouk Ibrahim; Executive Vice President, Business Services NNPC Ltd (Representative of the GCEO NNPC), Mr. Inuwa Danladi; new Chairperson, Forum of the Directors of Oil & Gas Training & Vocational Education Institutes of APPO and Director NNPC Academy, Mrs. Folashade Adekeye and Managing Director, Algerian Petroleum Institute (API), Mr. Abdelkader Guenone, during the second meeting of the Forum, in Abuja, at the weekend.
Oil & Gas

Nigeria’s Adekeye emerges chairperson, oil and gas training institute’s Directors

By Emmanuella Anokam

Nigeria’s Folashade Adekeye has emerged Chairperson, Forum of the Directors of Oil and Gas Training and Vocational Education Institutes of the African Petroleum Producers Organisation (APPO).

Adekeye, who is the Director, NNPC Academy, took over from the former chairperson, Mr Abdelkader Guenone, the Managing Director of the Algerian Petroleum Institute (API), during the second meeting of the Forum in Abuja.

This was made known in a statement issued by Olufemi Soneye, the Chief Corporate Communications Officer, NNPC Ltd. on Sunday.

Adekeye, who heads the NNPC’s oil and gas training arm, brings to bear more than 30 years of experience and is expected to work with her colleagues from APPO Member countries.

According to Soneye, this is in order to foster more collaboration towards addressing the challenges of competences, skills gaps, infrastructure and poor funding in the organisation’s training institutions.

In his keynote address at the opening of the meeting, the Group Chief Executive Officer of NNPC Ltd., Mele Kyari, emphasised the importance of a standardised educational and training approach.

Kyari, represented by Inuwa Danladi, the Executive Vice President (Business Services), said standardised education would help to meet the changing demands of the oil and gas industry.

Also in his keynote address, APPO’s Secretary-General, Dr Omar Farouk Ibrahim, charged the Member Countries to work towards enhancing further collaborative efforts to establish Oil and Gas Centres of Excellence across the African continent.

Ibrahim, also from Nigeria, said having good knowledge of the Forum’s challenges would enable APPO Member Countries to make recommendations.

He said it would also enable them to provide solutions in areas such as Oil and Gas project funding, technology adoption, and the formation of Africa Energy Bank.

He said that such collaboration by all member countries would guarantee Africa’s energy accessibility, affordability and sustainability, which overall, would strengthen her economies and bring prosperity to its citizens. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

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