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NNPC mulls rebuilding roads under tax credit scheme

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NNPC mulls rebuilding roads under tax credit scheme

The Nigerian National Petroleum Corporation, NNPC, began its week with engagement with critical stakeholders with the aim of finding lasting solutions to the challenges of the road network and other lingering problems.

NNPC Group Managing Director Mele Kyari, while engaging stakeholders, said the move follows the company’s efforts to maintain the current supply and distribution of petroleum products nationwide, in especially during the holiday season and beyond.

Recall that following the intervention of the NNPC last weekend, the tanker drivers, PTD, a branch of the Nigerian union of oil and gas workers, NUPENG, had canceled a planned strike.

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The union accepted the dialogue option offered by the Company, a development that has supported the smooth supply and distribution of petroleum products nationwide.

The meeting brought together stakeholders including the NNPC, tanker drivers, PTD, the National Association of Road Transport Owners, NARTO, the Department of Petroleum Resources, the DPR and the Federal Ministry of Public Works.

Other participants in the meeting are the Federal Inland Revenue Service, FIRS, State Security Service, SSS, Federal Road Safety Corps, FRSC, and the Nigerian Union of Petroleum & Natural Gas Workers, NUPENG.

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During the meeting, the CEO of the NNPC said that the stakeholders agreed on a framework that would allow the intervention of the NNPC in the rehabilitation of critical roads through the tax credit program. from the federal government.

“We are committed to using the federal government’s tax credit program to rebuild some of the affected roads in accordance with Presidential Order 7.

“As a result of our fruitful deliberations today, the NNPC is committed to supporting the PTD and NARTO in the implementation of rapid response solutions on certain identified strategic points to allow unhindered movement. trucks for transporting petroleum products nationwide, ”Kyari said.

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Established under FG Executive Decree 7 of 2019, the Road Trust Fund Policy / Tax Credit Program gives private sector operators the ability to finance critical infrastructure with the government.

Stakeholders agreed to impose the mandatory installation of safety valves in all petroleum product trucks across the country from February 1, 2022.

The meeting also frowned at the abuse of axle load or tonnage limits, with the NNPC agreeing to engage the Nigerian customs service to enforce the prevention of the importation of tanks with a capacity greater than 45,000 liters.

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Also this week, the Independent Petroleum Producers’ Group, IPPG, an association of indigenous exploration and production companies, E&P, in Nigeria paid a courtesy visit to Minister of State for Petroleum Resources, Timipre Sylva.

IPPG President Abdulrasaq Isah, who led its members during the visit, said he was satisfied with the 3% Host Community Development Fund as enshrined in the Petroleum Industry Law, PIA.

Mr Isah said there was a need to collaborate with the steering committee on the implementation of PIA 2021.

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He said that with some of the progressive strategies already put in place by its members, the PIA would be further strengthened to improve indigenous participation in the Nigerian oil and gas industry, adding that IPPG currently contributes 250,000 barrels per day. to the country’s oil production.

The President noted that it was necessary to collaborate with all stakeholders to achieve the goals of the Oil Industry Law while instructing the federal government to take advantage of the abundant gas resources for the further development of the economy. .

In response, Sylva welcomed the group’s desire for collaboration and suggested ways to improve the oil sector.

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He assured the group of its participation in the implementation of the PIA, adding that IPPG was one of the groups that should work with the government to unlock the hidden potentials of the oil industry.

Mr. Sylva noted that the security issue has become a major challenge that should be addressed, and called on all stakeholders to work together to improve the security situation for the benefit of the industry.

Also during the week under review, Pipelines and Products Marketing Company Ltd., PPMC, a downstream subsidiary of NNPC, hosted a stakeholder forum to address issues in the downstream sector of the petroleum industry.

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The forum was part of NNPC’s efforts to maintain the seamless supply and distribution of petroleum products nationwide, especially as the year-end festivities approach.

In his opening remarks, Mr. Kyari said that maintaining a stable distribution of petroleum products over the years has been achieved through the shared commitment of all stakeholders including unions, NARTO, PTD, TUC , NUPENG / PENGASSAN.

Kyari, who was represented by the group’s Executive Director, Gas and Electricity, Mohammed Ahmed, informed that the forum would further consolidate recent achievements in the downstream sector and strengthen the existing cordial relations between NNPC and its traders.

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“I assure you that we will take advantage of this forum to improve our service delivery to all partners and sustainable energy security for our country,” Kyari said.

In his remarks, Group Executive Director, Downstream, Adeyemi Adetunji, reaffirmed NNPC’s commitment to customer satisfaction and quality service delivery through consistent product availability, affordability and good quality.

In addition, PPMC Managing Director Abdullahi Isiyaku said that the essence of the forum is to establish a flexible channel of communication with stakeholders and familiarize them with the new business strategy of the company in accordance with current realities. with a view to deepening the existing cordial relationship.

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Some of the stakeholders who spoke on the sidelines of the event expressed satisfaction with the initiative while congratulating Mr. Kyari for blazing a new path for the industry.

The NNPC launched during the week the process of selecting financial and technical partners for the integrated development of its oil exploration licenses, OPL, 809 and 810 with the aim of increasing crude oil production to achieve the target. of 4 million barrels per day.

Speaking at a virtual event held to publicly open offers from companies interested in partnering with NNPC for asset development, upstream group executive director Adokiye Tombomieye said the exercise was part of management’s efforts to “bring huge discovered oil fields to market across different value chains” in line with the Company’s strategic growth initiative.

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Mr. Tombomieye appreciated all the companies that submitted bids and other stakeholders for their understanding and interest in partnering with the Company in its quest to embed transparency in its business processes as it strives to remain a world-class, commercially oriented company.

Group Managing Director, Supply Chain Management Division, Sophia Mbakwe, reaffirmed the company’s commitment to transparency, accountability and performance excellence, TAPE, led leadership program by Kyari, stressing that the principles of fairness and equity would be scrupulously observed in the selection. to treat.

She said a proper evaluation of the bids would be done before moving on to the technical and commercial stages of the process, adding that the list of successful companies would soon be available on the NNPC website.

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On hand to observe and verify the transparency of the procurement process were representatives of various agencies, including the Public Procurement Office, BPE, and Nigeria’s Extractive Industries and Transparency Initiative, NEITI.

Others were the Nigerian Petroleum and Natural Gas Executives Association, PENGASSAN, the Nigerian Petroleum and Natural Gas Workers Union, NUPENG, and the Federal Ministry of Finance.

In pursuit of its corporate social responsibility program, the national engineering and technology company NETCO has launched a program of educational initiatives for schools in its host community, Iru land, Victoria Island, Lagos.

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Speaking at the launch of the Code program named ‘NETCO Goes to School’ in Lagos, the company’s Managing Director, Johnson Awoyomi, revealed that the program was designed to encourage the study of science, technology, science and technology. engineering and mathematics, STEM, among high school students.

The director general, who was represented by the executive director of services, Kigo Ahmad, said that two schools in the Iru community, Kuramo Senior College and Victoria Island Senior High School were chosen as the pilot program for the initiative.

He said scholarships would be awarded to top science students from both schools while another set would be given an internship program during the long vacations.

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Chief Bashir Afolami, Secretary of the Council of Chiefs of Oniru and representative of Iru Lands, praised the cordial relationship between NETCO and the community over the years and urged students and youth in the community to take advantage of the program. to develop and secure their future. .

For his part, the director of Kuramo College, Adebayo Dawodu, congratulated NETCO for this initiative, stressing that Nigeria is in urgent need of support in the field of science and technology for national development.

Victoria Island High School vice principal Addayo Osinilu said the initiative was good for the advancement and promotion of engineering and science in the country as it would encourage and stimulate interest young people for science and engineering, especially women.

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