The Nigerian National Petroleum Company Limited (NNPC LTD.
) has completed the acquisition of OVH Energy Marketing Limited (OVHEM) downstream assets under an Accelerated Network Expansion (ANEX) Initiative.
Unveiling the acquisition on Saturday in Abuja, Sen. Margery Okadigbo, NNPC Ltd Board Chairman, said it would strengthen the downstream business portfolio to enhance profitability and guarantee National Energy Security.
The News Agency of Nigeria reports that downstream assets acquisition which were from OVHEM, operators of Oando filling stations, include reception jetty (ASPM) with 240,000MT monthly capacity and eight LPG Plants.
Others include three Lubes blending plants, three Aviation Depots, and 12 warehouses.
Okadigbo said the acquisition would bring over 380 additional filling stations under NNPC Retail brand in Nigeria and Togo to its journey of attaining 1,500 stations.
“We will be the largest petroleum product retail network in Africa.
We are going to have the Biggest filling station collection in Africa.
“OVH has given us so much to look after the investment we have you on the package to continue to work with us,” Okadigbo said.
Malam Mele Kyari, NNPC Ltd. Group Chief Executive (GCEO), said the merger was achievable through NNPC Ltd robust system and network, being an institution with the capabilities to deliver to shareholders.
Kyari said the acquisition was in line with President Muhammadu Buhari’s zeal for the NNPC to consistently provide energy security for Nigeria which involved access to products and management of the every transition.
“By this merger, we are the largest downstream company with robust network in the country and in Africa.
“This is vehicle to ensure we deliver on the energy transition in the country.
“We will use it to deliver Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (C into the market.
“Poor citizens who rely on biomass to cook.
70 per cent of Nigerians don’t have access to clean cooking fuel downstream company with robust network in the country and in Africa.
This is an opportunity for us to utilise this privilege and expand it.
“Today what we have struggled for years have been attained.
We will deliver value to our stakeholders and guarantee energy to all,” he said.
In a remark, Huub Stokman, OVH CEO, said the company was enthusiastic of the future potential and capabilities of the combine entity and was ready to bring efficiency in leading business.
Stokman said this acquisition from NNPC, which would transform downstream energy sector in West Africa, came at a critical time in the Nigerian energy sector and in the light of the enactment of the Petroleum Industry Act 2021 (PIA).
“As the demand is still increasing, also there should be deliberate effort to increase the supply in consumption of Natural Gas energy transition.
“The combined entity will be well positioned to take advantage of these opportunities in a way the will really positively impact oil and gas downstream sector,” he said.
The Nigerian Heart Foundation (NHF) says 80 per cent of premature deaths from heart diseases can be addressed if tobacco use, unhealthy diet, physical inactivity, harmful use of alcohol and air pollution are controlled.
Addressing a news conference in Lagos on behalf of the NHF, Mrs Dolapo Coker, Member, Nutrition Committee of the foundation, stressed the need to address carbon emissions by the government to reduce cardiovascular diseases.
The News Agency of Nigeria reports that the briefing was to commemorate 2022 World Heart Day. The World Heart Day is marked annually on Sept. 20 to raise awareness about Cardiovascular Diseases (CVD), their management, as well as their toll on the society.
The theme of the 2022 World Heart Day is ‘Use heart for every heart”.
Coker, a former President of the Nigerian Institute of Food Science and Technology, said that heart diseases remained the number one cause of death worldwide, claiming 18.6 million lives per year.
She said that the World Heart Foundation (WHF) was calling for urgent action on climate change and health inequity, saying millions more lives now at risk from cardiovascular disease, “which is still the world’s biggest killer.
” “The year 2022 has seen historic heat waves and, with climate change disproportionately affecting the most vulnerable populations, we can expect a further widening of the gap in global cardiovascular healthcare equity.
“Climate change and related air pollution is already responsible for 25% of all deaths from cardiovascular disease, killing 7 million people annually.
Quoting Prof. Fausto Pinto, President of WHF, Coker said: “Millions of already vulnerable people are doubly exposed to extreme weather events and limited access to healthcare.
“World leaders must step up efforts on the two biggest threats of our time – climate change and global health inequity.
” Coker said that working hand in hand with the World Health Organisation (WHO), WHF was calling on governments, civil society, and global industry to meet net-zero targets, to tackle global warming and curb air pollution, and to deliver healthcare access for all .
“A new global survey by WHF highlights the global concern surrounding the link between climate change and cardiovascular disease with climate change and air pollution ranked as the third most serious issues in relation to cardiovascular health among the respondents.
“The survey also revealed that awareness of healthcare inequality is growing: in reply to a question about which global issues affected cardiovascular disease the most the second.
“The second most common answer was social inequality and access to healthcare.
“WHF is also urging healthcare providers to help improve cardiovascular health and prevent CVD mortality by issuing regular reminders to at-risk groups about the dangers of extreme weather events, including tips on managing excessive heat events.
” She commended all partner in the fight against heart diseases and promotion of healthy lifestyles in Nigeria.
In his goodwill message, Mr Foluso Ogunwale, the Chief Executive Officer, I Fitness, who described heart as most important organ in the body, decried prevalence of harmful lifestyles and physical inactivity among many Nigerians.
“If the heart is that much important, it means that at one point we need to match the brake and examine how we live over lives so that we can perhaps live a happy and healthier life.
“The issue of physical health, physical exercise and the issue of nutrition and harmful lifestyles that potentially cause heart diseases can be addressed,” Ogunwale said.
Another NHF’s partner, Quest Oil Group, said that the issue of heart health was a concern to the firm, hence the commitment to address carbon emissions to reduce heart risks.
Its Corporate Communications and Branding Manager, Mr Gerald Moore, said: “For us at Quest Oil, we believe that good health is good business and that is why we innovatively changed the energy mix that we provide our customers.
“We now have different systems that can change from fuel to gas.
We have gas as our transition fuel.
We also provide LPG which is cleaner fuel.
“We also started something innovative in our stations, which is to replace the existing fuel generators with the solar power system.
“We believe that will significantly reduce the carbon emissions and give out stakeholders the opportunity for a better health,’ Moore said.
In her remarks, wife of Lagos State Governor, Dr Ibijoke Sanwo-Olu, said it was extremely important that people desist from unhealthy lifestyles to build heathy population which in turn would enhance productivity in the state.
Sanwo-Olu, who was represented by Mrs Patience Ogunnubi, Member, Committee of Wives of Lagos State Officials, said that the increase in the statistics of cardiovascular disease called for comprehensive approach and strategy.
“This is to ensure that people are aware of the serious threat that the disease posed.
” She advised people to embrace deliberate lifestyles and choice that can help to address the trend.
NAN reports that the NHF has outlined a month long activities to mark the 2022 World Heart Day which include bike a Heart Route (cycling rides), medical health talks and check, walks, mini health exhibitions, distribution of fliers and i Fitness exercise.
The Federal Government says Nigeria currently produces about five million tonnes of Liquefied Petroleum Gas (LPG) annually and only eight per cent of the production is being utilised domestically, with the bulk being exported.
It says domestic LPG production stands at about 45 per cent of annual consumption, with Nigerian Liquefied Natural Gas Limited (NL supplying 450,000 metric tonnes per annum while 55 per cent is imported.
Dr Adeyemi Dipeolu, Special Adviser to the President on Economic Matters in the Office of the Vice President made this known on Wednesday at the India-Nigeria Liquefied Petroleum Gas (LPG) Summit Abuja, 2022. The India-Nigeria LPG summit was hosted by Nigerian National Petroleum Company Limited (NNPC Ltd) with the support of the Office of the Vice President and World LPG Association (WLPGA).
The summit is expected to translate into bilateral exchanges to foster mutual collaboration and opportunities for the Nigerian LPG industry to learn from India’s experience, one of the world’s most successful National LPG penetration initiatives.
In a keynote address, Dipeolu said Nigeria had the ninth largest proven natural gas reserves in the world, and also the second largest producer of LPG in Africa after Algeria.
“LPG adoption in the Nigerian market, of course, is still very low with per capita consumption at about 1.8 kg, which is below the West African average.
“The household energy mix in Nigeria is about five per cent LPG, 65 per cent biomass and 30 per cent kerosene.
“The preference for the use of other sources is largely due to high switching costs associated with the acquisition of cylinders and LPG stoves, lack of awareness of associated benefits and safe LPG handling across consumer basis.
“There is also the high cost of LPG in comparison with alternative fuels, insufficient and inappropriate cylinders in circulation and inadequate infrastructure, especially trucks, roads, rail pipelines and plants,” he said.
He said the predominant use of biomass for household cooking resulted in deforestation and ambient air pollution, which also could lead to death due to stroke, heart disease, lung cancer and chronic respiratory diseases.
The Presidential Aide underscored the imperative for policies, incentives and investment to grow the Nigerian LPG market.
This, he said, would make cleaner fuel available, accessible and affordable, not only for household cooking, but also in autogas, captive power generation, heating and cooling as well as agriculture and industry.
He expressed optimism that Nigeria would learn from Indian’s experience with the Pradhan Mantri Ujjwala Yojana (PMUY) scheme implemented by the Indian Government in May 2016 such that LPG penetration in that country increased from 62 per cent to 100 per cent currently.
He said the theme of the summit, `Energising the Future: Leveraging the Indian Experience to Achieve Nigerian National LPG Aspiration’ underscored the need for cooperation and collaboration between the two countries.
Dipeolu said the cooperation should dwell on policy structures; health, safety and environmental methods and standards, ICT, infrastructure management techniques, stakeholder engagement and innovative programmes to incentivise Nigerian LPG market growth.
According to him, the recently enacted PIA specifically provides enablers for robust midstream and downstream gas development through promotion of policies, incentives and wavers to stimulate investments.
Others, he said, included removal of VAT on domestic LPG, presidential waiver on duty imported LPG equipment, tax holiday on new investment on gas and approval of eight new LPG terminals and storage facilities to add 150,000 metric tonnes gas capacity.
The Federal Government says it is aggressively pursuing the opening of micro Liquefied Natural Gas (L plants across several communities, to address the rising prices of Liquefied Petroleum Gas (LPG) in the country.
Dr Mohammed Ibrahim, Chairman, Natural Gas Expansion Programme (NGEP) made this known at the 2022 Annual General Meeting of Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) in Port Harcourt on Wednesday.
The theme of the event was “LPG Sustainability and Contemporary Issues.
” Ibrahim said the Federal Government was fully focused on ensuring that LPG was made available to Nigerians and at an affordable rate in no distant future.
“So, we are now building micro LNG plants in every part of this country because we want to demystify LNG.
“In this programme, we can have a 4,000 mmbtu LNG plant right in any village where you have a flare site.
“In the next 12 months, we are going to open a micro LNG plant in Owazza community in Abia – producing LPG right in the village,” he said.
Ibrahim said that Nigeria had no business exporting LNG when the country was yet to address local consumption and transformation of the industry.
According to him, the country has an abundance of LNG in the Dahomy Basin, Niger Delta Basin, Bida Basin, Gondola Basin and Chad Basin, among others.
“Nigeria is a haven of natural gas.
So, now that LNG is the transition fuel it is an opportunity to take advantage of the resource to develop the country.
“We are producing so much natural gas for export when we should be using it for power production, which explains why there is no electricity in the country.
“This means that every single molecule we export out of Nigeria, we are exporting electricity and development, among others; yet we are celebrating Nigeria LNG Train 7,” he added.
He said that massive corruption behind the subsidy scheme on petroleum products had hindered needed growth of the sector and affected the economy.
“So, by this time next year (2023), there will be no subsidy on gasoline in Nigeria.
We will ensure that every single Butane or Propane gas is sold in Nigeria – and not exported.
“Once this happens, the price of LPG will crash while there will be a massive diffusion of gas into every nook and cranny in the country,” he said.
On his part, the National President of NALPGAM, Mr Oladapo Olatunbosun, said the annual general meeting was a yearly event that brought together industry players, to brainstorm on how to improve the LPG business.
He said that NALPGAM members would also look into the LPG distribution value chain and deepening of LPG as the preferred cooking gas.
“We will also look at expansion of the use of LPG into other areas like auto-gas, power, among others, which is a catalyst of industrialisation in-line with the Decade of Gas declaration of the Federal Government “So, this event will provide a pathway for stakeholders to x-ray the landmarks and roadblocks that may aid or hinder the realisation of the policy,” he added.
The Nigeria National Petroleum Company (NNPC Ltd) is collaborating with the Office of the Vice President on establishment of Gas Funding Company Ltd for injection of 20 million cylinders in the next five years.
The NNPC Ltd said the company’s establishment, which involved collaboration of other relevant stakeholders and being done under the Marketer Cylinder Owned Model, would boost Liquefied Petroleum Gas (LPG) penetration.
Malam Mele Kyari, the Group Chief Executive Officer (GCEO), NNPC, said this on Wednesday at the opening of India-Nigeria Liquefied Petroleum Gas (LPG summit) in Abuja.
The India-Nigeria LPG summit was hosted by the NNPC with the support of the Office of the Vice President and World LPG Association (WLPGA).
The summit is expected to translate into bilateral exchanges to foster mutual collaborations and opportunities for the Nigerian LPG industry to learn from India’s experience, one of the world’s most successful national LPG penetration initiatives.
The summit has its theme as: “Energising the Future: Leveraging the Indian Experience to Achieve Nigerian National LPG Aspiration.
” Kyari, represented by Mr Adeyemi Adetunji, the Group Executive Director, Downstream, NNPC, said the summit would be required to submit a report detailing gaps identified and recommendations on best practices from the Indian experience.
This, he said, would be for adoption in Nigeria by relevant stakeholders to achieve rapid National LPG penetration.
He said the summit would equally discuss the Nigerian experience and Indian example covering safe LPG handling, pricing and financial support.
According to him, this will enhance LPG affordability among the poor, communication strategies, ICT and infrastructure as well as collaboration on Cylinder management and manufacturing.
Kyari said Nigeria had identified its abundant gas resources as fuel for energy transition which informed its net zero commitments by 2060 and the declaration of 2021-2030 as Decade of Gas. “NNPC Ltd is an energy company with new investments in gas, power and renewables.
Key pipeline projects such as ELPS II, OB3 and AKK to deliver a total of 6.2 billion cubic feet of gas per day to demand nodes across the country are at various stages of completion.
“We have strong presence in the LPG value chain contributing about 45 per cent of domestic supply via JVs (Oso Bonny River Terminal) affiliates (Nigeria LNG Ltd and Ashtavinayak Hydocarbon Ltd) and subsidiaries of NPDC.
“The NNPC Ltd. is fully aligned with the Federal Government’s National Gas Expansion Programme (NGEP) and National LPG Expansion Plan initiatives and has a full-fledged LPG business unit established to commercially drive the National LPG penetration.
“Accordingly, NNPC Ltd is commissioned to deploy 740 LPG Micro Distribution Centres (MDCs) 37 Filing Plants and Skids in its 541 stations within the next three years,’’ he said.
Michael Kelly, the Chief Advocacy Officer and Deputy Managing Director, WLPGA, said the both countries had a powerful role to play in geopolitics for the rest of the century.
Kelly said the discussions would be followed up to foster the cooperation during its LPG week in Delhi in November, adding that looking at lessons learnt and grafting them into Nigerian context would be impactful.
He said the focus of the summit was to share India’s experience with the Pradhan Mantri Ujjwala Yojana (PUMY) scheme implemented by the Indian Government in May 2016. This scheme pursued an aggressive LPG penetration drive, providing free cylinders, stoves and valves to end users.
This resulted to growth in LPG consumption in last 10 years, with the Indian National consumption currently at 30 million MT per annum and LPG penetration from 62 per cent in 2016 to 99 per cent in 2019. Mr Shrikant Vadya, Chairman, Indian Oil Corporation Ltd. (IOC) expressed confidence that the summit would liberate the Indians to achieve Nigerian National LPG aspirations and strengthen India-Nigeria bilateral opportunities.
The Major Oil Marketers Association of Nigeria (MOMAN) has reiterated its support to Nigeria’s energy transition and efforts of the Federal Government to actualise net zero carbon emission target by 2060.MOMAN also said it had within the last one year organised several trainings for its members to improve efficiency and safety in the petroleum downstream sector operations.
Mr Olumide Adeosun made these known at a news conference to mark his first year anniversary as the chairman of the association on Friday in Lagos.
Adeosun said: “our members are committed to the energy transition and the sustainable decarbonisation of our respective businesses.
“As a collective, we have embarked on several impactful initiatives and projects that signals that commitment to cleaner energy.
”According to him, MOMAN has been engaging with the National Gas Expansion Programme (NGEP) to drive the expansion of the use of gas in Nigeria.
He said the association had recently reviewed the contents of the Federal Government’s Auto Gas policy and have sent in a memorandum with the association’s input to the policy.
“My members are ready to move as long there is regulatory and policy clarity,” he said.
Adeosun, who is also the Chief Executive of Ardova Plc, said as part of these efforts, the company had invested in the construction of a 20,000MT Liquefied Petroleum Gas (LPG) storage facility in Ijora, Lagos.
He said this new capacity which would come on stream in 2023 would enable economies of scale for coastal gas delivery and help deepen the adoption of LPG as the cooking fuel of choice nationwide.
Adeosun also reiterated MOMAN’s position for the petroleum downstream sector going forward, especially with regards to the continued payment of fuel subsidy by the government.
He said: “We have tabled our recommendations to the government on our considered view on subsidy removal approach.
” It can best be summarised as full deregulation in phases.
These huge subsidy payments are simply not sustainable.
“The government should focus on palliatives for Nigerians such as mass transit, improve power supply, agriculture, education etc.
“Government may subsidise sectors that would stimulate sustainable economic growth.
“Overwhelmingly the right course of action is a clear trajectory toward full implementation of the Petroleum Industry Act 2021, as it is a very well thought out legislation that would ultimately cause the petroleum industry in Nigeria to grow.
“Listing some of the achievements of his administration in the past one year, Adeosun said it included engagements with stakeholders such as the Ministry of Petroleum Resources, the National Assembly and the Federal Competition and Consumer Protection Commission.
He said MOMAN had also engaged the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Dangote Refinery and the Nigerian National Petroleum Company Ltd. and the media.
“These engagements have all been in a bid to ensure that downstream positions and our customers’ interests are well articulated and documented.
“The goal has always been to develop good working relationships with the regulator and positively impact the petroleum sector,” Adeosun said.
He said MOMAN member companies, being the heritage of International Oil Companies (IOCs) who have operated in Nigeria in some cases for over 100 years, were the custodians of years of operational experience and evolved industry competencies.
Adeosun said: “It was our opinion that under investment arising from years of operation under the subsidy regime has led to a degradation of equipment, industry knowledge and practices.
“In response, MOMAN established regional collaborations with other industry associations across Africa.
We share best practices and collaborate on various fronts” We have, therefore, pooled our resources and recently published compendiums of best practices for the downstream industry in Nigeria” he concluded.
Representing the cleanest and most widely available fossil fuel in Africa, the continent has more than 620 trillion cubic feet (tcf) of proven gas reserves, with new exploration campaigns scheduled to double this figure: monetization and utilization of gas will enable Africa to make history out of energy poverty by 2030.
In addition to opportunities for power generation, gas represents the ideal resource to power industries and homes, providing heat and clean solutions for cooking.
At a time when more than 900 million people lack access to clean cooking solutions in Africa, it is essential to strengthen the supply and distribution of products such as liquefied petroleum gas (LPG).
In line with this goal, LNG market specialist Avedia Gas has joined African Energy Week (AEW) 2022 as a bronze sponsor, further cementing the company's role in Africa's energy future.
During AEW 2022, Avedia will participate in panel discussions, networking events and meetups, furthering the dialogue on gas in Africa and the role that LPG has and continues to play.
Avedia Gas has played and continues to play an important role in strengthening the supply of LPG in the southern African market, improving access to clean cooking and improving the processing and handling of LPG in South Africa.
Since its establishment, the company has developed bulk handling and import facilities, serving as one of the main LPG suppliers in the country.
The company is focused on further expanding the national and regional LPG market, with AEW 2022 representing the ideal platform to secure new partnerships and agreements that will allow it to achieve its growth goals.
For Africa, strengthening the LPG market in 2022 is key.
Large-scale exploration and production projects are currently underway across the continent offering the opportunity for local people to benefit from both energy and cooking solutions.
In Africa, projects such as the 15 tcf development of Greater Tortue Ahmeyim in Senegal and Mauritania, the first phase of which is scheduled to come online in 2023; Equatorial Guinea's 3.7 million tonne per year (mtpa) Punta Europa liquefied natural gas (LNG) terminal, which aims to enhance intra-African gas trade; and the 171mfd Sankofa Gas Project in Ghana is set to bring new supplies online.
Meanwhile, in southern Africa specifically, more than 100 tcf of reserves in Mozambique; 11 tcf in Angola; and possibly 20 tcf in Zimbabwe are set to transform the market, with the regional LPG sector set to witness a boom of its own.
Meanwhile, new gas infrastructure developments aim to significantly improve intra-African gas trade, allowing domestic markets across the continent to benefit from improved natural gas supply.
Taking advantage of the African Continental Free Trade Agreement, several projects have been launched, including pipelines and trade infrastructure.
“By 2022, more than 900 million people will lack access to clean cooking solutions.
This is a crisis, which directly affects the African population and will continue to cause health and socio-economic problems unless new fuel solutions are introduced to the African market.
Gas is the solution to this crisis.
Abundant supplies from the continent and accelerating project development promise a new era of distribution and utilization, and with companies like Avedia Gas, who are committed to improving the supply and distribution of gas-related products like LPG, the future of continent is brilliant”, says NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), adding that, “During AEW 2022, discussions on the role of gas and LPG in Africa’s energy and economic future will be furthered.” .
Africa emits less than 1% of global carbon—Osinbajo Africa emits less than 1% of global carbon—Osinbajo Carbon By Chijioke Okoronkwo Abuja, Sept. 22, 22 Vice President Yemi Osinbajo says African countries account for less than one per cent of cumulative global carbon emissions.
Osinbajo disclosed this in his keynote address at the 60th Anniversary Dinner of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI) on Thursday in Lagos.
The OPTS is a sub group of LCCI, which is the umbrella association of oil and gas companies who have come together to promote their common interests.
Osinbajo, who spoke on the topic: `Nigeria Transitioning to Green Energy,’ said that most hostile impacts of climate change on the continent were triggered by activities of wealthier nations.
The vice president said that most countries including Nigeria agreed that there was need to reduce global emissions to zero in Nigeria’s case by 2060. “ We are major victims of the effects of climate change, but there are a few important issues that we have flagged to our wealthier brother-countries in the global north.
“The first is that we, in the developing world are faced with two, not one crisis; one is climate change and the other is extreme poverty, the cause and consequence of which is energy poverty.
“Or the fact that lack of access to electricity for millions is a cause of deepening poverty.
“The second is that African countries are the least emitters of carbon today – less than one per cent of cumulative CO2 emissions and even if we triple electricity consumption in African countries (aside from South Africa) solely through the use of natural gas this would add just 0.6 per cent to global emissions.
“So, a lot of the flooding and adverse weather events that we are experiencing here are from emissions caused by the wealthier countries.
’’ The vice president said thirdly, the defunding of gas projects to force gas rich countries like Nigeria to stop using gas and use renewables instead was faulty.
According to him, the proposals to ban the funding of fossil fuel projects make no distinction between upstream oil and coal exploration and gas power plants for grid balancing.
He said that no economy in the world had been known to use renewables solely to industrialise as solar power simply did not have the base load capacity yet for industry.
“Fourthly, stopping the use of gas means that we cannot use Liquefied Petroleum Gas(LPG) for clean cooking stoves to replace the use of kerosene, firewood and charcoal which are dirtier fuels that are widely used for cooking and other domestic purposes, particularly in the rural areas.
“ The use of firewood means cutting down trees and of course desertification and then the loss of our carbon sinks.
`The fifth is the double standards that wealthier countries have adopted on this issue.
“Today in the wake of the energy crisis, many European nations have made recent announcements to increase or extend their use of coal fired power generation through 2023, and potentially beyond.
“ This is in violation of their climate commitments, and analysis suggests that this will raise power sector emissions of the EU by 4 per cent — a significant amount given the high base denominator of EU emissions.
’’ Osinbajo said that the sixth and perhaps most crucial point was that Nigeria must take quick and informed actions in its national interest.
He said that the country must take the threat of no investments in fossil fuels including gas seriously.
“For an example, many European and other global North countries are setting aggressive targets for use of electric vehicles and the banning of combustion engine vehicles.
“ Soon there may be only a few countries using combustion engines; it is also evident that while the Russia- Ukrainian war has shown the hypocrisy in not allowing public funding for fossil fuel projects, the wealthier nations are still of the view that this is the correct policy and that even if public funding is to be allowed financing should not go beyond 2035. “So far our response has been the Energy Transition Plan–a comprehensive, data-driven and evidence-based plan, designed to deal with the twin crises of climate change and energy poverty.
“ We anchored the plan on key objectives, including lifting 100 million people out of poverty in a decade, driving economic growth, bringing modern energy services to the full population and managing the expected long-term job loss in the oil sector due to global decarbonisation,’’ he said.
He said that the plan recognised the role natural gas must play in the short term to facilitate the establishment of base load energy capacity and address the nation’s clean cooking deficit in the form of LPG.
The vice president urged the private sector to step up its participation in the transition to green energy journey.
Earlier in his opening remarks, Dr Micheal-Olawale-Cole, the President, LCCI, said The OPTS was one of the outstanding members of the LCCI.
Represented by LCCI’s Vice President, Mr Gabriel Idohosa, Olawale-Cole said that OPTS had grown into an elite in the industry.
He said that LCCI was happy to lead OPTS’s for the passage of the Petroleum Industry Bill and then for the implementation of the Petroleum Industry Act. The LCCI boss also submitted that fuel subsidy should be removed as it was not sustainable.
The highlight of the event was the handing over of plaques to former chairmen of OPTS by the vice president.
The Federal Government says the promise by Alhaji Atiku Abubakar to ‘break the jinx’ in infrastructure financing, if elected president in 2023, is worn.
According to the Federal Government, President Muhammadu Buhari has long done so.
The Minister of Information and Culture, Alhaji Lai Mohammed said this at a media briefing on Thursday in Abuja.
The News Agency of Nigeria reports that the minister was reacting to the recent Economic Blueprint unveiled by Atiku, the opposition Peoples Democratic Party (PDP)’s presidential candidate in the 2023 elections.
“We state unequivocally, that the worst jinx in infrastructure financing was the PDP administration from 1999 to 2015. “Indeed, the Buhari administration has long broken that jinx, leveraging on such innovative schemes as the Presidential Infrastructure Development Fund (PIDF), Sukuk and the Road Infrastructure Tax Credit Scheme (RITCS),” he said According to the minister, the PIDF is being used to finance the Lagos-Ibadan Expressway, 2nd Niger Bridge and the Abuja-Kaduna-Zaria-Kano road, while Sukuk has delivered a total of 1,881 kilometres of roads between 2017 and 2020. He said the RITCS was used for the construction and rehabilitation of Lokoja-Obajana-Kabba-Ilorin road, reconstruction of Apapa Wharf road, construction of Apapa-Oworonsoki-Ojota road and the Bonny-Bodo road with bridge).
Mohammed said that the NNPC-funded part of the RITCS was also delivering nine roads in North-Central, three in North-East, two in North-West, two in South-East, three in South-South and two in South-West for a total of 1,804 kilometres of roads.
He said the Buhari administration’s “warm handshake’’ with the private sector had delivered and was delivering an unprecedented number of projects.
The projects according to the minister, included, the 650,000bpd Dangote Refinery, Dangote Fertilizer plant, Lekki Deep Sea Port, BUA Cement, the 5,000bpd Waltersmith Modular Refinery in Imo State and the 2,500bpd Duport Modular Park in Edo. They also included the 2,000bpd Atlantic Modular Refinery in Bayelsa State; the 12,000bpd Azikel Modular Refinery also in Bayelsa; the five LPG Bottling plants and six LPG depots in 10 northern states and Abuja.
Others are the 48,000 base oil production plant in Rivers and the 10,000 Metric Tonnes Per Day methanol production plant in Bayelsa, just to mention a few.
The minister said the refineries and other projects were the result of a ”warm handshake” between the Nigerian Content Development and Monitoring Board and private sector actors.
On power, the minister said Atiku’s promise to propose legislation to, among others give states the power to generate, transmit and distribute electricity, was also not new.
“It is amazing that His Excellency the former vice president has not heard or read that the Senate has passed the electricity bill 2022 that will allow states to generate and distribute power as well as solve the sector’s challenges,’’ he said.
Mohammed said contrary to Atiku’s position, the Federal Government’s investments in additional generation capacity were not futile and had consideration for the complementary transmission and distribution infrastructure.
He said the Nigeria-Siemens partnership consummated in 2019 to improve “the seemingly-intractable power sector on which the PDP frittered more than 16 billion dollars to procure nothing but darkness would be a game changer.
“The three-phase project will deliver 7,000MW in the first phase, 11,000MW in the second phase and 25,000MW in the third phase.
“This will positively impact job creation, boost investor confidence, accelerate economic growth and reduce cost of doing business.
“For those who may be in doubt, let me say that this project is a game changer.
As you may have read, electricity equipment ordered under the project have started arriving in the country.
“When they are installed, there will be a major improvement in the supply of electricity across the country,’’ he said.
The minister also faulted Atiku on his promise that poverty reduction would be the ‘centerpiece of our economic development agenda’.
He said the Buhari administration’s National Social Investment Programme (NSIP) is unprecedented in impacting the lives of poor Nigerians directly and indirectly and creating jobs, especially for the youths, women and the elderly.
Kpler, a leading data and analytics company providing real-time transparency into global commodity markets, will attend and participate in the African Energy Week (AEW) conference and exhibition (www.AECWeek.com), the event largest in Africa for energy.
sector that will take place from 18 to 21 October 2022 in Cape Town, as a bronze sponsor.
As one of the world's leading providers of energy market intelligence aimed at facilitating transparent and efficient trade to meet the changing needs of various regions, Kpler's presence and participation at AEW 2022 will be crucial in shaping the dialogue on trends, the challenges and challenges of the African energy market.
solutions, as well as how developments in the global marketplace are altering the African landscape.
While geopolitical factors, such as conflict and policies related to the energy transition, have had a negative impact on energy security, as well as on Africa's ability to develop its vast oil and gas resources to address growing energy poverty , organizations like Kpler have been and continue to be key in helping the African oil industry.
and gas-producing countries and companies understand and react to market trends.
Since its inception in 2014, the France-based company has been instrumental in maximizing oil and gas production and trading across the continent by supplying state-of-the-art market data collection, analysis and visualization tools to some of the major hydrocarbon companies in the world and in Africa.
such as TotalEnergies, Shell, ExxonMobil and Eni. Recently CITAC, a consulting company specializing in the African energy market, selected Kpler to provide data-driven transparency on the flow of gasoline, diesel, liquefied petroleum gas (LPG) and fuel oil in the African market.
As a result, the movement of raw materials, including crude oil, liquefied natural gas, and refined petroleum products to, from, and through Africa, has been optimal, helping Africa address its energy demand and improve monetization for income generation.
Now, with Africa seeking to boost the development and exploitation of its estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas to lift more than 600 million people out of energy poverty while accelerating growth In economic terms, the intelligence of organizations like Kpler are vital to maximizing activities throughout the continent's oil and gas value chain.
As a Bronze Sponsor, Kpler's participation in high-level panel discussions and meetings at AEW 2022 will be crucial in providing continental and international energy market stakeholders with the latest market trends, while also highlighting and driving new trends.
opportunities in the upstream, midstream and downstream segments of Africa.
“The Chamber is honored to welcome Kpler to AEW 2022 as a bronze sponsor, where the company will shape conversations on critical topics such as energy transition, energy price, energy demand, supply chain interruptions.
supply and economic growth.
As Africa enters a new era of industry growth thanks to recent large-scale discoveries and accelerated adoption of new technologies, Kpler insights will be key to ensuring efficiency, sustainability and productivity,” says NJ Ayuk, CEO of the African Energy Chamber (AEC).
Under the theme "Exploring and Investing in Africa's Energy Future While Driving an Enabling Environment", AEW 2022 will provide Kpler with access to exclusive networking forums to connect with an array of industry stakeholders.