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NNPC Weekly Review: NNPC mulls rebuilding roads under tax credit scheme



NNPC Weekly Review: NNPC mulls rebuilding roads under tax credit scheme

By Edith Ike-Eboh and Emmanuel Afonne

The Nigerian National Petroleum Corporation (NNPC) began its week by engaging 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 Malam Mele Kyari, while engaging stakeholders, said the move follows the company’s efforts to maintain the smooth supply and distribution of petroleum products nationwide. , especially during the holiday season and beyond.

Recall that following the intervention of the NNPC last weekend, the branch of tanker drivers (PTD) of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) canceled a planned strike.

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 (DPR) and the Federal Ministry of Public Works.

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

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.

“At the end of our fruitful deliberations today, the NNPC is committed to supporting the PTD and the NARTO in the implementation of rapid intervention solutions on certain identified strategic points to allow the unhindered movement of trucks. for transporting petroleum products across the country, ”Kyari said.

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.

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

IPPG President Abdulrasaq Isah, who led its members during the visit, said he was satisfied with the 3% host community development fund enshrined in the Petroleum Industry Law (PIA)).

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

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 industry.

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.

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.

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, NNPC GMD, Kyari said that the foundation for 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, Mr. 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.

“I assure you that we will take advantage of this forum to improve our service delivery to all partners and ensure 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, the Managing Director of PPMC, Mr. Abdullahi Isiyaku, said that the essence of the forum is to establish a flexible communication channel with stakeholders and to familiarize them with the new business strategy of the company in accordance with the current realities in order to deepen the existing cordial relationship.

Some of the stakeholders who spoke on the sidelines of the event expressed satisfaction with the initiative while congratulating 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 meet 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, the group’s executive director, Upstream, Mr. Adokiye Tombomieye, said the exercise was part of management’s efforts to market in different value chains’ in accordance with the Company’s strategic growth initiative.

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 company with a commercial vocation.

Group Managing Director, Supply Chain Management Division, Ms. Sophia Mbakwe, reaffirmed the Company’s commitment to the Transparency, Accountability and Performance Excellence (TAPE) program of the leadership led by Kyari, stressing that the principles of equity and justice would be scrupulously observed in the selection process.

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.

Representatives of various agencies, including the Public Procurement Bureau (BPE) and the Nigeria Extractive Industries and Transparency Initiative (NEITI), were present to observe and verify the transparency of the procurement process.

The 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 Fice.

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.

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

The Director General, who was represented by the Executive Director of Services, Mr. 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 of 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.

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, Mr. Adebayo Dawodu, congratulated NETCO for this initiative, stressing that Nigeria urgently needs support in the field of science and technology for national development.

Victoria Island High School Vice Principal Mr. Adedayo Osinilu said the initiative was good for the advancement and promotion of engineering and science in the country as it would encourage and stimulate the interest of young people in science and engineering, especially the female gender. . (www,)

Source: NAN

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