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  •  The National Institute for Policy and Strategic Studies NIPS is collaborating with the Nigerian National Petroleum Company NNPC Ltd to position the Nigerian Oil and Gas industry for growth and development Prof Ayo Omotayo the Director General NIPSS when he led a delegation from the institute on a courtesy visit to the Group Managing Director of NNPC Mr Mele Kyari in Abuja on Friday Omotayo said that the collaboration would birth the enactment of strategic policies to better position the Nigerian oil and gas industry for growth and development He said that NIPSS would also collaborate in the area of infrastructural development and capacity building for NNPC as the transformational process in the oil and gas industry proceed We have a very fruitful discussion with the GMD NNPC is transforming and we believe that NIPSS being the foremost think thank in Nigeria should engage with NNPC to ensure that the transformational process in the oil and gas is valid He said that the NIPSS which is under the direct control of the presidency had looked at the Nigeria oil and gas industry adding that it could only take a man with courage like President Muhammadu Buhari to carry out such reform According to him if you take a look at the Petroleum Industry Acts PIA you will discovered that it s only someone who has a lot of courage like Buhari that can carry out such a big reform And we have discussed with NNPC that we should find ways and means of ensuring that the legacies of Buhari in the oil and gas industry is documented for posterity So we are going to collaborate in the area of infrastructural development and capacity building for NNPC as the transformational process in the oil and gas industry proceed Speaking earlier Gen Lucky Irabor the Chief of Defence Staff and the Chairman Board of Governors NIPS said that the NIPSS would play an important role in term of protecting facilities and impacting knowledge in the sector We are here in partnership with various establishment notably the NNPC because NIPS is the foremost think thank on strategy and policy matters in Nigeria NIPSS remained an institute that build capacity of leaders and building leaders to formulate policies that was central to the country s development as a nation Irabor said that from that context NIPSS would be involved not only by helping in manpower development of corporation such as NNPC but equally in areas where those establishments could be of support also to NIPS So if NIPSS is providing the manpower development and of course it stands to reason that whatever happen between the oil and gas space NIPSS is also contributing in that regards Kyari on his part said that the NNPC was transforming adding that it needed to build capacity for leadership He further said that it had already benefited from the NIPSS through a number of participants that had gone through the institute According to him NNPC has seen the qualities that have been added to their capacities and their abilities and we will continue to leverage on that opportunities He said that more than anything the NNPC would continue to partner with the institute in manners that could increase their capacities intern of infrastructure He added that most importantly the NNPC was pleased to hear that the NIPSS would honour the President adding that honour was most important for NNPC than even NIPSS This according to him is because the President has done great for us for the oil and gas industry by putting in place the PIA He said that the PIA had opened up investments and created capacities in the industry adding that it would please the company to join in honouring the president www ng NewsSourceCredit NAN
    NIPSS, NNPC collaborate to position oil, gas industry for growth
     The National Institute for Policy and Strategic Studies NIPS is collaborating with the Nigerian National Petroleum Company NNPC Ltd to position the Nigerian Oil and Gas industry for growth and development Prof Ayo Omotayo the Director General NIPSS when he led a delegation from the institute on a courtesy visit to the Group Managing Director of NNPC Mr Mele Kyari in Abuja on Friday Omotayo said that the collaboration would birth the enactment of strategic policies to better position the Nigerian oil and gas industry for growth and development He said that NIPSS would also collaborate in the area of infrastructural development and capacity building for NNPC as the transformational process in the oil and gas industry proceed We have a very fruitful discussion with the GMD NNPC is transforming and we believe that NIPSS being the foremost think thank in Nigeria should engage with NNPC to ensure that the transformational process in the oil and gas is valid He said that the NIPSS which is under the direct control of the presidency had looked at the Nigeria oil and gas industry adding that it could only take a man with courage like President Muhammadu Buhari to carry out such reform According to him if you take a look at the Petroleum Industry Acts PIA you will discovered that it s only someone who has a lot of courage like Buhari that can carry out such a big reform And we have discussed with NNPC that we should find ways and means of ensuring that the legacies of Buhari in the oil and gas industry is documented for posterity So we are going to collaborate in the area of infrastructural development and capacity building for NNPC as the transformational process in the oil and gas industry proceed Speaking earlier Gen Lucky Irabor the Chief of Defence Staff and the Chairman Board of Governors NIPS said that the NIPSS would play an important role in term of protecting facilities and impacting knowledge in the sector We are here in partnership with various establishment notably the NNPC because NIPS is the foremost think thank on strategy and policy matters in Nigeria NIPSS remained an institute that build capacity of leaders and building leaders to formulate policies that was central to the country s development as a nation Irabor said that from that context NIPSS would be involved not only by helping in manpower development of corporation such as NNPC but equally in areas where those establishments could be of support also to NIPS So if NIPSS is providing the manpower development and of course it stands to reason that whatever happen between the oil and gas space NIPSS is also contributing in that regards Kyari on his part said that the NNPC was transforming adding that it needed to build capacity for leadership He further said that it had already benefited from the NIPSS through a number of participants that had gone through the institute According to him NNPC has seen the qualities that have been added to their capacities and their abilities and we will continue to leverage on that opportunities He said that more than anything the NNPC would continue to partner with the institute in manners that could increase their capacities intern of infrastructure He added that most importantly the NNPC was pleased to hear that the NIPSS would honour the President adding that honour was most important for NNPC than even NIPSS This according to him is because the President has done great for us for the oil and gas industry by putting in place the PIA He said that the PIA had opened up investments and created capacities in the industry adding that it would please the company to join in honouring the president www ng NewsSourceCredit NAN
    NIPSS, NNPC collaborate to position oil, gas industry for growth
    General news1 week ago

    NIPSS, NNPC collaborate to position oil, gas industry for growth

    The National Institute for Policy and Strategic Studies (NIPS) is collaborating with the Nigerian National Petroleum Company (NNPC) Ltd. to position the Nigerian Oil and Gas industry for growth and development.

    Prof.  Ayo Omotayo, the Director-General, NIPSS, when he led a delegation from the institute on a courtesy visit to the Group Managing Director of NNPC, Mr Mele Kyari, in Abuja on Friday.

    Omotayo said that the collaboration would birth the enactment of strategic policies to better position the Nigerian oil and gas industry for growth and developmentHe said that NIPSS would also collaborate in the area of infrastructural development and capacity building for NNPC as the transformational process in the oil and gas industry proceed.

    “We have a very fruitful discussion with the GMD, NNPC is transforming and we believe that NIPSS being the foremost think-thank in Nigeria should engage with NNPC to ensure that the transformational process in the oil and gas is valid.

    ”He said that the NIPSS which is under the direct control of the presidency had looked at the Nigeria oil and gas industry, adding that it could only take a man with courage like President Muhammadu Buhari to carry out such reform.

    According to him, if you take a look at the Petroleum Industry Acts (PIA),  you will discovered that it’s only someone who has a lot of courage like Buhari that can carry out  such a big reform.

    “And, we have discussed with NNPC that we should find ways and means of ensuring that the legacies of Buhari in the oil and gas industry is documented for posterity.

    “So, we are going to collaborate in the area of infrastructural development and capacity building for NNPC as the transformational process in the oil and gas industry proceed.

    Speaking earlier, Gen. Lucky Irabor, the Chief of Defence Staff and the Chairman Board of Governors NIPS, said that the NIPSS would play an important role in term of protecting facilities and impacting knowledge in the sector.

    “We are here in partnership with various establishment notably the NNPC, because NIPS is the foremost think thank on strategy and policy matters in Nigeria.

    NIPSS remained an institute that build capacity of leaders and building leaders to formulate policies that was central to the country’s development as a nation.

    Irabor said that from that context, NIPSS would be involved not only by helping in manpower development of corporation such as NNPC but equally in areas where those establishments could be of support also to NIPS.

    “So, if NIPSS is providing the manpower development and of course it stands to reason that whatever happen between the oil and gas space NIPSS is also contributing in that regards.

    Kyari on his part said that the NNPC was transforming, adding that it needed to build capacity for leadership.

    He further said that it had already benefited from the NIPSS through a number of participants that had gone through the institute.

    According to him, NNPC has seen the qualities that have been added to their capacities and their abilities and we will continue to leverage on that opportunities.

    He said that, more than anything the NNPC would continue to partner with the institute in manners that could increase their capacities intern of infrastructure.

    He added that most importantly, the NNPC was pleased to hear that the NIPSS would honour the President, adding that honour was most important for NNPC than even NIPSS.

    This, according to him, is because the President has done great for us for the oil and gas industry by putting in place the PIA.

    He said that the PIA had opened up investments and created capacities in the industry, adding that it would please the company to join in honouring the president.

    www.

    ng
    NewsSourceCredit: NAN

  •  The European Union the Nigerian National Petroleum Company Ltd NNPC and the Joint Task Force JTF Operation Delta Safe on Friday visited an illegal refining site in Rivers to inspect the impacts on the environment The refinery already destroyed by the JTF is located in Ahoada West Local Government Area of the state The visit is for the EU partners to assess things for themselves and how crude oil thieves set up illegal refineries and the adverse impact on the communities The News Agency of Nigeria reports that the EU delegation comprises Ms Samuela Isopi Ambassador to Nigeria and ECOWAS Ms Cecile Leeman Team Leader Southern partnerships EU Commission Others are Mr Richard Young Head of Division West Africa Mr Thomas Kieler Political Adviser EU delegation to Nigeria Mr Jerome Riviere Programme Manager EU delegation to Nigeria Mr Juan Sell Ambassador of Spain to Nigeria Mr Mele Kyari Group Chief Executive Officer NNPC commended the JTF for their good work in the Niger Delta area in safeguarding the nation s oil and gas assets He said Nigeria would soon curtail the breaches and that they came with the development partners to see how much work was going on and how they could help to bring sanity restore oil production and security for everyone It cannot happen unless we are able to work together with all the reports we are also ready for our partners to see things for themselves and the efforts that are being made to curtail the situation I commend the troops on ground working to ensure that the nation s oil and gas sector is secured We believe by August we will be able to bring down the menace to a minimal level It is not good for the community it has a huge negative impact on the environment Today the livelihood of the people here are impacted people doing the business are not from the community they are actually from other places We are working with the community to take this out so that they can go back to their normal way of life We are happy we are here today to see things for ourselves and our partners he said On his part Rear Adm Aminu Hassan the JTF Commander said within the period of three months the taskforce destroyed more than 2 000 illegal refineries in the area He said In one site here you can get between 50 to 100 composite units where everyone is operating just like a market everybody is doing his illicit business in one market So that is how they operate Within a refining site you can get hundreds of units everyone doing his own within a week or thereabout you can succeed in destroying thousands Mechanically we are destroying their machines which they are very fast in constructing If you really want to supress them you must be faster than them work ahead of them that is why we introduced these equipment you will be on top of the situation to be ahead of them he said He said that the community was of great support to the taskforce So to a great extent we are getting support from the community we are urging them to also avail us with more information he said He urged those indulging in such illegality to desist from such and find legitimate business to better their lives Also Mr Mathew Baldwin Deputy Director General European Union Commission said they were on fact finding mission adding that oil theft and illegal refining remained a big problem He commended the JTF and the NNPC for the great work done to salvage and restore the Nigerian oil and gas sector We are here to find and understand the problem if the production is used for the local market and if most of the production is going into the international market NewsSourceCredit NAN
    Oil theft: EU delegation, NNPC officials, JTF visit illegal refining sites
     The European Union the Nigerian National Petroleum Company Ltd NNPC and the Joint Task Force JTF Operation Delta Safe on Friday visited an illegal refining site in Rivers to inspect the impacts on the environment The refinery already destroyed by the JTF is located in Ahoada West Local Government Area of the state The visit is for the EU partners to assess things for themselves and how crude oil thieves set up illegal refineries and the adverse impact on the communities The News Agency of Nigeria reports that the EU delegation comprises Ms Samuela Isopi Ambassador to Nigeria and ECOWAS Ms Cecile Leeman Team Leader Southern partnerships EU Commission Others are Mr Richard Young Head of Division West Africa Mr Thomas Kieler Political Adviser EU delegation to Nigeria Mr Jerome Riviere Programme Manager EU delegation to Nigeria Mr Juan Sell Ambassador of Spain to Nigeria Mr Mele Kyari Group Chief Executive Officer NNPC commended the JTF for their good work in the Niger Delta area in safeguarding the nation s oil and gas assets He said Nigeria would soon curtail the breaches and that they came with the development partners to see how much work was going on and how they could help to bring sanity restore oil production and security for everyone It cannot happen unless we are able to work together with all the reports we are also ready for our partners to see things for themselves and the efforts that are being made to curtail the situation I commend the troops on ground working to ensure that the nation s oil and gas sector is secured We believe by August we will be able to bring down the menace to a minimal level It is not good for the community it has a huge negative impact on the environment Today the livelihood of the people here are impacted people doing the business are not from the community they are actually from other places We are working with the community to take this out so that they can go back to their normal way of life We are happy we are here today to see things for ourselves and our partners he said On his part Rear Adm Aminu Hassan the JTF Commander said within the period of three months the taskforce destroyed more than 2 000 illegal refineries in the area He said In one site here you can get between 50 to 100 composite units where everyone is operating just like a market everybody is doing his illicit business in one market So that is how they operate Within a refining site you can get hundreds of units everyone doing his own within a week or thereabout you can succeed in destroying thousands Mechanically we are destroying their machines which they are very fast in constructing If you really want to supress them you must be faster than them work ahead of them that is why we introduced these equipment you will be on top of the situation to be ahead of them he said He said that the community was of great support to the taskforce So to a great extent we are getting support from the community we are urging them to also avail us with more information he said He urged those indulging in such illegality to desist from such and find legitimate business to better their lives Also Mr Mathew Baldwin Deputy Director General European Union Commission said they were on fact finding mission adding that oil theft and illegal refining remained a big problem He commended the JTF and the NNPC for the great work done to salvage and restore the Nigerian oil and gas sector We are here to find and understand the problem if the production is used for the local market and if most of the production is going into the international market NewsSourceCredit NAN
    Oil theft: EU delegation, NNPC officials, JTF visit illegal refining sites
    General news2 months ago

    Oil theft: EU delegation, NNPC officials, JTF visit illegal refining sites

    The European Union, the Nigerian National Petroleum Company Ltd (NNPC) and the Joint Task Force (JTF) Operation Delta Safe, on Friday visited an illegal refining site in Rivers, to inspect the impacts on the environment.

    The refinery, already destroyed by the JTF is located in  Ahoada  West Local Government Area of the state.

    The visit is for the EU, partners to assess things for themselves and how crude oil thieves set up illegal refineries and the adverse impact on the communities.

    The News Agency of Nigeria reports that the EU delegation comprises Ms Samuela Isopi, Ambassador to Nigeria and ECOWAS; Ms Cecile Leeman Team Leader, Southern partnerships EU Commission.

    Others are Mr Richard Young, Head of Division West Africa; Mr Thomas Kieler, Political Adviser, EU delegation to Nigeria; Mr Jerome Riviere, Programme Manager EU delegation to Nigeria; Mr Juan Sell, Ambassador of Spain to Nigeria.

    Mr Mele Kyari, Group Chief Executive Officer, NNPC, commended the JTF for their good work in the Niger Delta area, in safeguarding the nation’s oil and gas assets.

    He said Nigeria would soon curtail the breaches, and that they came with the development partners to see how much work was going on and how they could help to bring sanity, restore oil production and security for everyone.

    “It cannot happen unless we are able to work together with all the reports; we are also ready for our partners to see things for themselves and the efforts that are being made to curtail the situation.

    “I commend the troops on ground, working to ensure that the nation’s oil and gas sector is secured.

    “We believe by August we will be able to bring down the menace to a minimal level.

    It is not good for the community, it has a huge negative impact on the environment.

    “Today the livelihood of the people here are impacted, people doing the business are not from the community, they are actually from other places.

    “We are working with the community to take this out so that they can go back to their normal way of life.

    “We are happy we are here today to see things for ourselves and our partners,” he said.

    On his part, Rear Adm.

    Aminu Hassan, the JTF Commander, said within the period of three months, the taskforce destroyed more than 2,000 illegal refineries in the area.

    He said: “In one site here you can get between 50 to 100 composite units where everyone is operating; just like a market, everybody is doing his illicit business in one market.

    So, that is how they operate.

    “Within a refining site, you can get hundreds of units, everyone doing his own, within a week or thereabout you can succeed in destroying thousands.

    “Mechanically we are destroying their machines which they are very fast in constructing.

    “If you really want to supress them, you must be faster than them, work ahead of them, that is why we introduced these equipment, you will be on top of the situation to be ahead of them,” he said.

    He said that the community was of great support to the taskforce.

    “So, to a great extent we are getting support from the community, we are urging them to also avail us with more information,” he said.

    He urged those indulging in such illegality to desist from such and find legitimate business, to better their lives.

    Also, Mr Mathew Baldwin, Deputy Director General, European Union Commission, said they were on fact finding mission, adding that oil theft and illegal refining remained a big problem.

    He commended the JTF and the NNPC, for the great work done to salvage and restore the Nigerian oil and gas sector.

    “We are here to find and understand the problem, if the production is used for the local market and if most of the production is going into the international market.

    NewsSourceCredit: NAN

  •  Vice President Yemi Osinbajo says a Pan African position articulated and promoted by leaders of the continent on global Net zero emissions target by 2050 2060 will further advance quest for a just energy transition Osinbajo s spokesman Laolu Akande in a statement on Thursday in Abuja said the vice president said this when he met with diplomats from the G 7 countries comprising the U S UK Germany Canada France Japan and also the Republic of Egypt Other global agencies like the UN World Bank and the International Monetary Fund IMF were also in attendance at the meeting held at the Presidential Villa Abuja The vice president who spoke after a presentation of Nigeria s Energy Transition Plan and brief comments by the diplomats and country representatives said the plan was geared toward the actualisation of a Pan African initiative Developing a common African narrative is absolutely important because it sets the stage in providing a clear vision and a clear objective to have a Pan African initiative The broad based coalition will ensure that the private sector and government work together in driving the processes and the nuances are adequately taken care of It is important that we factor in all the nuances across the continent There is a great deal of enthusiasm and support for the country s energy transition plan He said the Federal Government had adopted intentional approaches including the setting up of an Energy Transition Office among others to coordinate the processes Earlier the Minister of Environment Alh Mohammad Abubakar emphasised the need to have a Pan African transition plan that would ensure a shared vision on the continent s position at the forthcoming Climate Change Conference He assured development partners and members of the G 7 countries of Nigeria s firm commitments to the net zero emission targets On her part Minister of Finance Budget and National Planning Hajiya Zainab Ahmed said authorities were making efforts to ensure stability in fiscal and monetary policies She said that stakeholders especially in Africa must define their common interest and leverage existing opportunities to build new partnerships In his remarks the UN Resident and Humanitarian Coordinator in Nigeria Mr Matthias Schmale commended the leadership of the vice president in developing and implementing an energy transition plan pledging the UN s support toward its actualisation In the same vein the U S Ambassador to Nigeria Mary Beth Leonard said the U S would support initiatives aimed at creating conducive environment for investments in the sector She acknowledged the emergence of a movement championing common initiative for Africa s energy transition describing Nigeria s plan as a manifestation of country s position on energy transition The UK High Commissioner to Nigeria Catriona Laing said in addition to what her country planned to do in the area of off grid solutions more UK investors had indicated interest in the country s renewable energy sector Also the World Bank Country Director in Nigeria Mr Shubaham Chaudhuri commended ongoing efforts to reform Nigeria s energy sector He called for more investments in off grid solutions while pledging the support of the bank for initiatives adopted by government In separate remarks the representatives of the EU Republics of France Germany Japan Canada and Egypt the IMF and the UN Development Programme UNDP all commended Nigeria s leadership toward the actualisation of an African initiative for energy transition Top Federal Government officials present at the meeting included the Minister of Power Mr Abubakar Aliyu Minister of State for Power Mr Goddy Jedy Agba The Group Managing Director of Nigeria National Petroleum Corporation NNPC Mr Mele Kyari and the Managing Director of the Rural Electrification Agency Mr Ahmad Salihijo Ahmad among others were also at the meeting NewsSourceCredit NAN
    Pan-African coalition ‘ll advance just energy transition — Osinbajo
     Vice President Yemi Osinbajo says a Pan African position articulated and promoted by leaders of the continent on global Net zero emissions target by 2050 2060 will further advance quest for a just energy transition Osinbajo s spokesman Laolu Akande in a statement on Thursday in Abuja said the vice president said this when he met with diplomats from the G 7 countries comprising the U S UK Germany Canada France Japan and also the Republic of Egypt Other global agencies like the UN World Bank and the International Monetary Fund IMF were also in attendance at the meeting held at the Presidential Villa Abuja The vice president who spoke after a presentation of Nigeria s Energy Transition Plan and brief comments by the diplomats and country representatives said the plan was geared toward the actualisation of a Pan African initiative Developing a common African narrative is absolutely important because it sets the stage in providing a clear vision and a clear objective to have a Pan African initiative The broad based coalition will ensure that the private sector and government work together in driving the processes and the nuances are adequately taken care of It is important that we factor in all the nuances across the continent There is a great deal of enthusiasm and support for the country s energy transition plan He said the Federal Government had adopted intentional approaches including the setting up of an Energy Transition Office among others to coordinate the processes Earlier the Minister of Environment Alh Mohammad Abubakar emphasised the need to have a Pan African transition plan that would ensure a shared vision on the continent s position at the forthcoming Climate Change Conference He assured development partners and members of the G 7 countries of Nigeria s firm commitments to the net zero emission targets On her part Minister of Finance Budget and National Planning Hajiya Zainab Ahmed said authorities were making efforts to ensure stability in fiscal and monetary policies She said that stakeholders especially in Africa must define their common interest and leverage existing opportunities to build new partnerships In his remarks the UN Resident and Humanitarian Coordinator in Nigeria Mr Matthias Schmale commended the leadership of the vice president in developing and implementing an energy transition plan pledging the UN s support toward its actualisation In the same vein the U S Ambassador to Nigeria Mary Beth Leonard said the U S would support initiatives aimed at creating conducive environment for investments in the sector She acknowledged the emergence of a movement championing common initiative for Africa s energy transition describing Nigeria s plan as a manifestation of country s position on energy transition The UK High Commissioner to Nigeria Catriona Laing said in addition to what her country planned to do in the area of off grid solutions more UK investors had indicated interest in the country s renewable energy sector Also the World Bank Country Director in Nigeria Mr Shubaham Chaudhuri commended ongoing efforts to reform Nigeria s energy sector He called for more investments in off grid solutions while pledging the support of the bank for initiatives adopted by government In separate remarks the representatives of the EU Republics of France Germany Japan Canada and Egypt the IMF and the UN Development Programme UNDP all commended Nigeria s leadership toward the actualisation of an African initiative for energy transition Top Federal Government officials present at the meeting included the Minister of Power Mr Abubakar Aliyu Minister of State for Power Mr Goddy Jedy Agba The Group Managing Director of Nigeria National Petroleum Corporation NNPC Mr Mele Kyari and the Managing Director of the Rural Electrification Agency Mr Ahmad Salihijo Ahmad among others were also at the meeting NewsSourceCredit NAN
    Pan-African coalition ‘ll advance just energy transition — Osinbajo
    Environment2 months ago

    Pan-African coalition ‘ll advance just energy transition — Osinbajo

    Vice President Yemi Osinbajo says a Pan-African position articulated and promoted by leaders of the continent on global Net-zero emissions target by 2050-2060, will further advance quest for a just energy transition. Osinbajo’s spokesman, Laolu Akande,  in a statement on Thursday in Abuja, said the vice president said this when he met with diplomats from the G-7 countries comprising the U.S, UK, Germany, Canada, France, Japan, and also the Republic of Egypt.Other global agencies like the UN, World Bank and the International Monetary Fund (IMF), were also in attendance at the meeting held at the Presidential Villa, Abuja.The vice president, who spoke after a presentation of Nigeria’s Energy Transition Plan, and brief comments by the diplomats and country representatives, said the plan was geared toward the actualisation of a Pan African initiative. “Developing a common African narrative is absolutely important because it sets the stage in providing a clear vision and a clear objective to have a Pan African initiative.“The broad-based coalition will ensure that the private sector and government work together in driving the processes and the nuances are adequately taken care of.“It is important that we factor in all the nuances across the continent.“There is a great deal of enthusiasm and support for the country’s energy transition plan.”He said the Federal Government had adopted intentional approaches including the setting up of an Energy Transition Office, among others to coordinate the processes.Earlier, the Minister of Environment, Alh. Mohammad  Abubakar, emphasised the need to have a Pan-African transition plan that would ensure a shared vision on the continent’s position at the forthcoming Climate Change Conference.He assured development partners and members of the G-7 countries of Nigeria’s firm commitments to the net-zero emission targets. On her part,  Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, said  authorities were making  efforts to ensure stability in fiscal and monetary policies.She said that  stakeholders especially in Africa must define their  common interest and leverage existing opportunities to build new partnerships.In his remarks, the UN Resident and Humanitarian Coordinator in Nigeria, Mr Matthias Schmale, commended the leadership of the vice president in developing and implementing an energy transition plan, pledging the UN’s support toward its actualisation. In the same vein, the U.S. Ambassador to Nigeria, Mary Beth Leonard, said the U.S. would support initiatives aimed at creating conducive environment for investments in the sector. She acknowledged the emergence of a movement championing common initiative for Africa’s energy transition, describing Nigeria’s plan as a manifestation of country’s position on energy transition. The UK High Commissioner to Nigeria, Catriona Laing, said in addition to what her country planned to do in the area of off-grid solutions, more UK investors had indicated interest in the country’s renewable energy sector. Also, the World Bank Country Director in Nigeria, Mr Shubaham Chaudhuri, commended ongoing efforts to reform Nigeria’s energy sector.He called for more investments in off-grid solutions while pledging the support of the bank for initiatives adopted by government. In separate remarks, the representatives of the EU, Republics of France, Germany, Japan, Canada, and Egypt, the IMF and the UN Development Programme (UNDP), all commended Nigeria’s leadership toward the actualisation of an African initiative for energy transition.Top Federal Government officials present at the meeting included the Minister of Power, Mr Abubakar Aliyu, Minister of State for Power Mr Goddy Jedy-Agba. The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Mr Mele Kyari and the Managing Director of the Rural Electrification Agency, Mr Ahmad Salihijo Ahmad, among others were also at the meeting.

    NewsSourceCredit: NAN

  •  The Nigerian petroleum industry on Wednesday in Abuja held a night of tributes for the departed Dr Mohammed Barkindo the Secretary General of the Organisation of the Petroleum Exporting Countries OPEC The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63 He was buried on Wednesday in Yola Adamawa State in accordance with Islamic rites Speaking at the ceremony which coincided with the 2022 Nigeria Oil and Gas NOG Award Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company Ltd said Barkindo s demise was a shock to the industry Represented by Mr Adetunji Adeyemi the Group Executive Director Downstream NNPC Kyari prayed God to grant the family the fortitude to bear the loss Mr Mike Sangster the Managing Director TotalEnergies EP Nigeria Ltd said the loss was for the family the country Nigeria the oil and gas industry and the world at large Sangster who was represented by Mr Charles Ebereonwu the Country Communications Manager TotalEnergies Nigeria described Barkindo as a humble and hardworking man who made enormous contributions to the oil and gas industry All we can do is to pray for the family for the fortitude to bear the loss and the Almighty God to grant his soul eternal rest he said Also Mr Rick Kennedy the Chairman Oil Producers Trade Section OPTS described Barkindo as a true giant of the industry Kennedy said the contributions of the departed global energy leader could not be overemphasised adding that his death was a huge loss to the sector On his part Mr Osagie Okunbor the Country Chair Shell Companies in Nigeria said Barkindo was an iconic figure in the oil and gas industry whose death came as a very rude shock to stakeholders Okunbor said OPEC was able to overcome multiple crisis due to his outstanding leadership adding that he made Nigeria and Nigerians proud on the global stage In his tribute Mr Simbi Wabote the Executive Secretary Nigerian Content Development and Monitoring Board said Barkindo was a role model and someone worthy to be admired He was the icon of our time His death is a great loss to Nigeria God knows best When our time is up there is nothing we can do He has played his part and we can only continue from where he stopped Wabote said NewsSourceCredit NAN
    Nigerian petroleum industry holds night of tributes for Barkindo
     The Nigerian petroleum industry on Wednesday in Abuja held a night of tributes for the departed Dr Mohammed Barkindo the Secretary General of the Organisation of the Petroleum Exporting Countries OPEC The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63 He was buried on Wednesday in Yola Adamawa State in accordance with Islamic rites Speaking at the ceremony which coincided with the 2022 Nigeria Oil and Gas NOG Award Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company Ltd said Barkindo s demise was a shock to the industry Represented by Mr Adetunji Adeyemi the Group Executive Director Downstream NNPC Kyari prayed God to grant the family the fortitude to bear the loss Mr Mike Sangster the Managing Director TotalEnergies EP Nigeria Ltd said the loss was for the family the country Nigeria the oil and gas industry and the world at large Sangster who was represented by Mr Charles Ebereonwu the Country Communications Manager TotalEnergies Nigeria described Barkindo as a humble and hardworking man who made enormous contributions to the oil and gas industry All we can do is to pray for the family for the fortitude to bear the loss and the Almighty God to grant his soul eternal rest he said Also Mr Rick Kennedy the Chairman Oil Producers Trade Section OPTS described Barkindo as a true giant of the industry Kennedy said the contributions of the departed global energy leader could not be overemphasised adding that his death was a huge loss to the sector On his part Mr Osagie Okunbor the Country Chair Shell Companies in Nigeria said Barkindo was an iconic figure in the oil and gas industry whose death came as a very rude shock to stakeholders Okunbor said OPEC was able to overcome multiple crisis due to his outstanding leadership adding that he made Nigeria and Nigerians proud on the global stage In his tribute Mr Simbi Wabote the Executive Secretary Nigerian Content Development and Monitoring Board said Barkindo was a role model and someone worthy to be admired He was the icon of our time His death is a great loss to Nigeria God knows best When our time is up there is nothing we can do He has played his part and we can only continue from where he stopped Wabote said NewsSourceCredit NAN
    Nigerian petroleum industry holds night of tributes for Barkindo
    General news3 months ago

    Nigerian petroleum industry holds night of tributes for Barkindo

    The Nigerian petroleum industry on Wednesday in Abuja held a night of tributes for the departed Dr Mohammed Barkindo, the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC).

    The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63.

    He was buried on Wednesday in Yola, Adamawa State, in accordance with Islamic rites.

    Speaking at the ceremony which coincided with the 2022 Nigeria Oil and Gas (NOG) Award, Mr Mele Kyari, the Group Managing Director, Nigerian National Petroleum Company Ltd., said Barkindo’s demise was a shock to the industry.

    Represented by Mr Adetunji Adeyemi, the Group Executive Director, Downstream, NNPC, Kyari prayed God to grant the family the fortitude to bear the loss.

    Mr Mike Sangster, the Managing Director, TotalEnergies EP Nigeria Ltd., said the loss was for the family, the country Nigeria, the oil and gas industry and the world at large.

    Sangster who was represented by Mr Charles Ebereonwu, the Country Communications Manager, TotalEnergies Nigeria, described Barkindo as a humble and hardworking man who made enormous contributions to the oil and gas industry.

    “All we can do is to pray for the family for the fortitude to bear the loss and the Almighty God to grant his soul eternal rest,” he said.

    Also, Mr Rick Kennedy, the Chairman, Oil Producers Trade Section (OPTS), described Barkindo as a true giant of the industry.

    Kennedy said the contributions of the departed global energy leader could not be overemphasised, adding that his death was a huge loss to the sector.

    On his part, Mr Osagie Okunbor, the Country Chair, Shell Companies in Nigeria, said Barkindo was an iconic figure in the oil and gas industry whose death came as a very rude shock to stakeholders.

    Okunbor said OPEC was able to overcome multiple crisis due to his outstanding leadership, adding that he made Nigeria and Nigerians proud on the global stage.

    In his tribute, Mr Simbi Wabote, the Executive Secretary, Nigerian Content Development and Monitoring Board, said Barkindo was a role model and someone worthy to be admired.

    “He was the icon of our time. His death is a great loss to Nigeria. God knows best. When our time is up, there is nothing we can do.

    “He has played his part and we can only continue from where he stopped,” Wabote said.

    NewsSourceCredit: NAN

  •  The Organisation of the Petroleum Exporting Countries OPEC and the Minister of State for Petroleum Resources Chief Timipre Sylva on Wednesday mourned the demise of the outgoing OPEC Secretary General Dr Mohammed Barkindo The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63 OPEC Secretary General Mohammed Barkindo passed away yesterday in his home country Nigeria He was the much loved leader of the OPEC Secretariat and his passing is a profound loss to the entire OPEC Family the oil industry and the international community OPEC said in a statement issued on its official Twitter page Also Sylva said Nigeria has been thrown into mourning over the passing of Barkindo This is a great loss to Nigeria to OPEC to the energy sector and most compassionately to his family which we have in our prayers and thoughts he said Also Mr Mele Kyari Group Managing Director Nigerian National Petroleum Company NNPC said the OPEC boss who was in Nigeria to participate at the ongoing Nigerian Oil and Gas Conference in Abuja died at about 11 00p m Certainly a great loss to his immediate family the NNPC our country Nigeria the OPEC and the global energy community Burial arrangements will be announced shortly Kyari said Mr Chinedu Okoronkwo President Independent Petroleum Marketers Association of Nigeria IPMAN said Barkindo distinguished himself as a global energy leader On behalf of IPMAN I want to commiserate with OPEC the Nigerian government and the oil and gas industry on the demise of the beloved OPEC secretary general I pray that God will grant his immediate family and the entire industry the fortitude to bear this great loss Okoronkwo said NewsSourceCredit NAN
    OPEC, Sylva, industry stakeholders mourn Barkindo
     The Organisation of the Petroleum Exporting Countries OPEC and the Minister of State for Petroleum Resources Chief Timipre Sylva on Wednesday mourned the demise of the outgoing OPEC Secretary General Dr Mohammed Barkindo The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63 OPEC Secretary General Mohammed Barkindo passed away yesterday in his home country Nigeria He was the much loved leader of the OPEC Secretariat and his passing is a profound loss to the entire OPEC Family the oil industry and the international community OPEC said in a statement issued on its official Twitter page Also Sylva said Nigeria has been thrown into mourning over the passing of Barkindo This is a great loss to Nigeria to OPEC to the energy sector and most compassionately to his family which we have in our prayers and thoughts he said Also Mr Mele Kyari Group Managing Director Nigerian National Petroleum Company NNPC said the OPEC boss who was in Nigeria to participate at the ongoing Nigerian Oil and Gas Conference in Abuja died at about 11 00p m Certainly a great loss to his immediate family the NNPC our country Nigeria the OPEC and the global energy community Burial arrangements will be announced shortly Kyari said Mr Chinedu Okoronkwo President Independent Petroleum Marketers Association of Nigeria IPMAN said Barkindo distinguished himself as a global energy leader On behalf of IPMAN I want to commiserate with OPEC the Nigerian government and the oil and gas industry on the demise of the beloved OPEC secretary general I pray that God will grant his immediate family and the entire industry the fortitude to bear this great loss Okoronkwo said NewsSourceCredit NAN
    OPEC, Sylva, industry stakeholders mourn Barkindo
    General news3 months ago

    OPEC, Sylva, industry stakeholders mourn Barkindo

    The Organisation of the Petroleum Exporting Countries (OPEC) and the Minister of State for Petroleum Resources, Chief Timipre Sylva on Wednesday mourned the demise of the outgoing OPEC Secretary General, Dr Mohammed Barkindo.The News Agency of Nigeria reports that Barkindo passed on in Abuja on Tuesday at the age of 63.“OPEC Secretary General,  Mohammed Barkindo, passed away yesterday in his home country Nigeria.“He was the much-loved leader of the OPEC Secretariat and his passing is a profound loss to the entire OPEC Family, the oil industry and the international community,” OPEC said in a statement issued on its official Twitter page.Also, Sylva said Nigeria has been thrown into mourning over the passing of Barkindo.“This is a great loss to Nigeria, to OPEC, to the energy sector and most compassionately to his family which we have in our prayers and thoughts,” he said.Also, Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Company (NNPC) said the OPEC boss who was in Nigeria to participate at the ongoing Nigerian Oil and Gas Conference in Abuja died at about 11.00p.m.“Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community.“Burial arrangements  will be announced shortly,” Kyari said.Mr Chinedu Okoronkwo, President, Independent Petroleum Marketers Association of Nigeria (IPMAN), said Barkindo distinguished himself as a global energy leader.“On behalf of IPMAN, I want to commiserate with OPEC, the Nigerian government and the oil and gas industry on the demise of the beloved OPEC secretary general.“I pray that God will grant his immediate family and the entire industry the fortitude to bear this great loss, “Okoronkwo said.

    NewsSourceCredit: NAN

  •  Dr Mohammed Barkindo the Secretary General Organisation of the Petroleum Exporting Countries OPEC is dead Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company NNPC confirmed the development in a statement posted on his official Twitter page on Wednesday We lost our esteemed Dr Mohammed S Barkindo He died at about 11 00 p m on Tuesday Certainly a great loss to his immediate family the NNPC our country Nigeria the OPEC and the global energy community Burial arrangements will be announced shortly Kyari said The News Agency of Nigeria reports that Barkindo who is the outgoing OPEC secretary general was in Nigeria where he delivered the Chairman keynote address at the ongoing Nigerian Oil and Gas Conference NOG in Abuja on Tuesday At his last official outing at the NOG Barkindo was given a standing ovation by industry stakeholders for his outstanding contributions to the Nigerian and global oil and gas industry He had earlier in the day visited President Muhammadu Buhari in the Presidential Villa where he was hailed by the president for being a worthy ambassador to Nigeria Born on April 20 1959 in Yola Adamawa Barkindo served as the Secretary General of OPEC since Aug 1 2016 and would have bowed out on July 31 2022 following the completion of his tenure He completed his Bachelor s Degree in Political Science from Ahmadu Bello University Zaria in 1981 and Masters of Business Administration degree from Washington University in 1991 Prior to MBA in 1988 he earned a PostGraduate Diploma in Petroleum Economics from Oxford University Also he was awarded an honorary doctorate from the Federal University of Technology Yola Barkindo previously served as the acting Secretary General in 2006 and represented Nigeria on OPEC s Economic Commission Board from 1993 to 2008 He also led the Nigerian National Petroleum Corporation during 2009 to 2010 and headed Nigeria s technical delegation to UN climate negotiations since 1991 Barkindo will be replaced by Mr Haitham Al Ghais a veteran of the Kuwait Petroleum Corporation KPC as the organisation s Secretary General following his demise In a tribute to Barkindo on his contributions to the global energy industry OPEC said he was instrumental in expanding the organisation s historical efforts to support sustainable oil market stability This was through enhanced dialogue and cooperation with many energy stakeholders including the landmark Declaration of Cooperation DoC since its inception in December 2016 These efforts are widely cr NewsSourceCredit NAN
    OPEC Secretary-General, Barkindo dies at 63
     Dr Mohammed Barkindo the Secretary General Organisation of the Petroleum Exporting Countries OPEC is dead Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company NNPC confirmed the development in a statement posted on his official Twitter page on Wednesday We lost our esteemed Dr Mohammed S Barkindo He died at about 11 00 p m on Tuesday Certainly a great loss to his immediate family the NNPC our country Nigeria the OPEC and the global energy community Burial arrangements will be announced shortly Kyari said The News Agency of Nigeria reports that Barkindo who is the outgoing OPEC secretary general was in Nigeria where he delivered the Chairman keynote address at the ongoing Nigerian Oil and Gas Conference NOG in Abuja on Tuesday At his last official outing at the NOG Barkindo was given a standing ovation by industry stakeholders for his outstanding contributions to the Nigerian and global oil and gas industry He had earlier in the day visited President Muhammadu Buhari in the Presidential Villa where he was hailed by the president for being a worthy ambassador to Nigeria Born on April 20 1959 in Yola Adamawa Barkindo served as the Secretary General of OPEC since Aug 1 2016 and would have bowed out on July 31 2022 following the completion of his tenure He completed his Bachelor s Degree in Political Science from Ahmadu Bello University Zaria in 1981 and Masters of Business Administration degree from Washington University in 1991 Prior to MBA in 1988 he earned a PostGraduate Diploma in Petroleum Economics from Oxford University Also he was awarded an honorary doctorate from the Federal University of Technology Yola Barkindo previously served as the acting Secretary General in 2006 and represented Nigeria on OPEC s Economic Commission Board from 1993 to 2008 He also led the Nigerian National Petroleum Corporation during 2009 to 2010 and headed Nigeria s technical delegation to UN climate negotiations since 1991 Barkindo will be replaced by Mr Haitham Al Ghais a veteran of the Kuwait Petroleum Corporation KPC as the organisation s Secretary General following his demise In a tribute to Barkindo on his contributions to the global energy industry OPEC said he was instrumental in expanding the organisation s historical efforts to support sustainable oil market stability This was through enhanced dialogue and cooperation with many energy stakeholders including the landmark Declaration of Cooperation DoC since its inception in December 2016 These efforts are widely cr NewsSourceCredit NAN
    OPEC Secretary-General, Barkindo dies at 63
    General news3 months ago

    OPEC Secretary-General, Barkindo dies at 63

    Dr Mohammed Barkindo, the Secretary-General, Organisation of the Petroleum Exporting Countries (OPEC), is dead.

    Mr Mele Kyari, the Group Managing Director, Nigerian National Petroleum Company (NNPC), confirmed the development in a statement posted on his official Twitter page on Wednesday.

    “We lost our esteemed Dr Mohammed S Barkindo. He died at about 11.00 p.m. on Tuesday.

    “Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community.

    “Burial arrangements will be announced shortly,” Kyari said.

    The News Agency of Nigeria reports that Barkindo, who is the outgoing OPEC secretary general, was in Nigeria where he delivered the Chairman keynote address at the ongoing Nigerian Oil and Gas Conference (NOG) in Abuja on Tuesday.

    At his last official outing at the NOG, Barkindo was given a standing ovation by industry stakeholders for his outstanding contributions to the Nigerian and global oil and gas industry.

    He had earlier in the day visited President Muhammadu Buhari in the Presidential Villa where he was hailed by the president for being a “worthy ambassador to Nigeria.”

    Born on April 20,1959 in Yola, Adamawa, Barkindo served as the Secretary General of OPEC since Aug. 1, 2016 and would have bowed out on July 31, 2022 following the completion of his tenure.

    He completed his Bachelor’s Degree in Political Science from Ahmadu Bello University Zaria, in 1981 and Masters of Business Administration degree from Washington University in 1991.

    Prior to MBA, in 1988 he earned a PostGraduate Diploma in Petroleum Economics from Oxford University.

    Also, he was awarded an honorary doctorate from the Federal University of Technology Yola.

    Barkindo previously served as the acting Secretary-General in 2006 and represented Nigeria on OPEC’s Economic Commission Board from 1993 to 2008.

    He also led the Nigerian National Petroleum Corporation during 2009 to 2010 and headed Nigeria’s technical delegation to UN climate negotiations since 1991.

    Barkindo will be replaced by Mr Haitham Al-Ghais, a veteran of the Kuwait Petroleum Corporation (KPC), as the organisation’s Secretary-General following his demise.

    In a tribute to Barkindo on his contributions to the global energy industry, OPEC said he was instrumental in expanding the organisation’s historical efforts to support sustainable oil market stability.

    “This was through enhanced dialogue and cooperation with many energy stakeholders, including the landmark Declaration of Cooperation (DoC) since its inception in December 2016.

    “These efforts are widely cr

    NewsSourceCredit: NAN

  •  The House of Representatives on Monday mandated the NNPC and the CBN to nip the planned strike by airline operators in the bud It enjoined the two government agencies to provide the required assistance and declared that airline operators should name fuel marketer of their choice to supply them aviation fuel over the next three months The House enjoined marketers to begin the process of application for licences to import aviation fuel without intervention by middlemen It ruled that the six million litres of aviation fuel available should be sold at N480 per litre to the operators Speaker of the House Rep Femi Gbajabiamila had earlier lamented that certain resolutions of the House in the past had not been implemented leading to the impasse being witnessed in the aviation sector He added that although the strike had been called off the nation did not need to wait for threats of strikes to nip them in the bud Gbajabiamila lamented that since the last meeting between the airline operators and the House there had not been an effective communication as to the resolution of the issue In his reaction Mr Allen Onyeama Chairman Air Peace who represented the airline operators said the sale of aviation fuel at N500 per litre was still on the high side He added that aviation fuel cost should not take more than 40 per cent of airline operators total operating cost Alhaji Abdulmunaf Sarina Chairman Airline Operators Association of Nigeria who is also the Chairman Azman Airline noted that 75 per cent of aviation fuel was imported by the NNPC through Duke Oil He added that as a palliative the NNPC should supply the 25 000 tonnes of aviation fuel promised to the operators which was approved by President Muhammadu Buhari He observed that earlier resolution on aviation fuel price reached with the operators was not implemented Group Managing Director of NNPC Ltd Mr Mele Kyari however countered that the agreed price of aviation fuel was not implemented because of price volatility Kyari added that going by market forces the price of aviation fuel could be as high as N700 per lire adding that the way out was for government to subsidise the price He noted also that accessibility to Foreign Exchange was another constraint face by airline operators CBN Governor Godwin Emefiele on his part said oil theft in the Niger Delta was exacerbating the unavailability of Foreign Exchange He said that the CBN had no Foreign Exchange to aviation operators and that since the landing cost of aviation fuel was N460 per litre the price would come to N550 per litre at the pump Emefiele said that the CBN would not grant any concession because it would amount to giving subsidy to aviation operators He said that there was need to look at the pricing structure that the operators were talking about adding that the situation was getting attention from the Presidency I compelled some fuel marketers to take the loss and to sell aviation fuel at N480 per litre after getting a call from the Chief of Staff to the President that the operators were planning a strike and I promised to intervene Emefiele said NAN
    Reps resolve airlines’ dispute, mandate NNPC, CBN to stop operators’ proposed strike 
     The House of Representatives on Monday mandated the NNPC and the CBN to nip the planned strike by airline operators in the bud It enjoined the two government agencies to provide the required assistance and declared that airline operators should name fuel marketer of their choice to supply them aviation fuel over the next three months The House enjoined marketers to begin the process of application for licences to import aviation fuel without intervention by middlemen It ruled that the six million litres of aviation fuel available should be sold at N480 per litre to the operators Speaker of the House Rep Femi Gbajabiamila had earlier lamented that certain resolutions of the House in the past had not been implemented leading to the impasse being witnessed in the aviation sector He added that although the strike had been called off the nation did not need to wait for threats of strikes to nip them in the bud Gbajabiamila lamented that since the last meeting between the airline operators and the House there had not been an effective communication as to the resolution of the issue In his reaction Mr Allen Onyeama Chairman Air Peace who represented the airline operators said the sale of aviation fuel at N500 per litre was still on the high side He added that aviation fuel cost should not take more than 40 per cent of airline operators total operating cost Alhaji Abdulmunaf Sarina Chairman Airline Operators Association of Nigeria who is also the Chairman Azman Airline noted that 75 per cent of aviation fuel was imported by the NNPC through Duke Oil He added that as a palliative the NNPC should supply the 25 000 tonnes of aviation fuel promised to the operators which was approved by President Muhammadu Buhari He observed that earlier resolution on aviation fuel price reached with the operators was not implemented Group Managing Director of NNPC Ltd Mr Mele Kyari however countered that the agreed price of aviation fuel was not implemented because of price volatility Kyari added that going by market forces the price of aviation fuel could be as high as N700 per lire adding that the way out was for government to subsidise the price He noted also that accessibility to Foreign Exchange was another constraint face by airline operators CBN Governor Godwin Emefiele on his part said oil theft in the Niger Delta was exacerbating the unavailability of Foreign Exchange He said that the CBN had no Foreign Exchange to aviation operators and that since the landing cost of aviation fuel was N460 per litre the price would come to N550 per litre at the pump Emefiele said that the CBN would not grant any concession because it would amount to giving subsidy to aviation operators He said that there was need to look at the pricing structure that the operators were talking about adding that the situation was getting attention from the Presidency I compelled some fuel marketers to take the loss and to sell aviation fuel at N480 per litre after getting a call from the Chief of Staff to the President that the operators were planning a strike and I promised to intervene Emefiele said NAN
    Reps resolve airlines’ dispute, mandate NNPC, CBN to stop operators’ proposed strike 
    General news5 months ago

    Reps resolve airlines’ dispute, mandate NNPC, CBN to stop operators’ proposed strike 

    The House of Representatives on Monday mandated the NNPC and the CBN to nip the planned strike by airline operators in the bud.

    It enjoined the two government agencies to provide the required assistance and declared that airline operators should name fuel marketer of their choice to supply them aviation fuel over the next three months.

    The House enjoined marketers to begin the process of application for licences to import aviation fuel without intervention by middlemen.

    It ruled that the six million litres of aviation fuel available should be sold at N480 per litre to the operators.

    Speaker of the House, Rep Femi Gbajabiamila, had earlier lamented that certain resolutions of the House in the past had not been implemented leading to the impasse being witnessed in the aviation sector.

    He added that although the strike had been called off, the nation did not need to wait for threats of strikes to nip them in the bud.

    Gbajabiamila lamented that since the last meeting between the airline operators and the House, there had not been an effective communication as to the resolution of the issue.

    In his reaction, Mr Allen Onyeama, Chairman, Air Peace, who represented the airline operators, said the sale of aviation fuel at N500 per litre was still on the high side.

    He added that aviation fuel cost should not take more than 40 per cent of airline operators total operating cost.

    Alhaji Abdulmunaf Sarina, Chairman, Airline Operators Association of Nigeria who is also the Chairman, Azman Airline, noted that 75 per cent of aviation fuel was imported by the NNPC through Duke Oil.

    He added that as a palliative, the NNPC should supply the 25,000 tonnes of aviation fuel promised to the operators which was approved by President Muhammadu Buhari.

    He observed that earlier resolution on aviation fuel price reached with the operators was not implemented.

    Group Managing Director of NNPC Ltd., Mr Mele Kyari, however, countered that the agreed price of aviation fuel was not implemented because of price volatility.

    Kyari added that going by market forces, the price of aviation fuel could be as high as N700 per lire, adding that the way out was for government to subsidise the price.

    He noted also that accessibility to Foreign Exchange was another constraint face by airline operators.

    CBN Governor, Godwin Emefiele on his part said oil theft in the Niger Delta was exacerbating the unavailability of Foreign Exchange.

    He said that the CBN had no Foreign Exchange to aviation operators and that since the landing cost of aviation fuel was N460 per litre, the price would come to N550 per litre at the pump.

    Emefiele said that the CBN would not grant any concession because it would amount to giving subsidy to aviation operators.

    He said that there was need to look at the pricing structure that the operators were talking about, adding that the situation was getting attention from the Presidency.

    “I compelled some fuel marketers to take the loss and to sell aviation fuel at N480 per litre after getting a call from the Chief of Staff to the President that the operators were planning a strike and I promised to intervene,’’ Emefiele said.

    (NAN)

  •  Alhaji Muhammad Saleh Hassan an oil and gas shareholder and chairman of Skymark Energy and Power Ltd says Nigeria will become Africa s hub for refined oil products within the next two years Saleh Hassan made this claim in an interview with the Nigerian News Agency and select journalists in Abuja on Friday According to him the feat will be achieved thanks to the efforts made by the Administration of President Muhammadu Buhari He said the energy sector will soon change for the better particularly with ongoing efforts such as the renovation and reconstruction of the country s oil refineries by the Federal Government According to him President Buhari being the Minister of Petroleum Resources and Mr Mele Kyari the Group Managing Director of the Nigerian National Petroleum Corporation NNPC are already about to change the oil and gas sector for optimal benefits for Nigerians The refineries will surely soon begin to operate at full capacity and meet the wishes of the population By 2023 2024 Nigeria is expected to become the African hub for refined petroleum products This is the direction of NNPC Limited and it is focused on this feat which is achievable Whatever pains Nigerians are going through now it is a matter of time As it stands now it s a no pain no gain situation Nigerians must be assured that the perennial crisis in the oil sector will soon be over This is a sequel to the Federal Government s ongoing efforts to rebuild refineries and transform Nigeria into Africa s hub for refined petroleum products and an exporting nation he said Saleh Hassan explained that under Buhari and Kyari the oil sector is witnessing massive change thanks to their meticulous and proactive efforts that transformed the NNPC into a limited for profit company He noted that the corporation s new business status had seen it declare profits which also culminated in ensuring its stability and contributed greatly to the nation s economic growth The head of Skymark Energy expressed his dismay that trillions of naira had been wasted in the past on refurbishing refineries under different administrations but they failed to function at full capacity For the first time the country s three refineries in Port Harcourt Warri and Kaduna have witnessed some measures of stability compared to previous administrations when they were in a coma with the ensuing perennial crisis in the nation s oil sector But currently all refineries have been running steadily due to some degree of maintenance inspired by the Buhari led administration as well as Kyari s leadership as helmsman of the NNPC he said According to him NNPC Limited has completely changed thanks to the strong synergy between them In other words suggestions in the public domain that the renovation of Nigeria s refineries is a waste of public funds due to past failures do not hold water What NNPC Limited and the Federal Government are doing is not only the restoration but also the reconstruction of the refineries Obviously the current leadership is implementing the technological experience of the 21st century to achieve the purpose Therefore Nigerians should put past concerns behind them and look forward to new developments inspired by the concern and sincerity of the current government Saleh Hassan said Saleh Hassan also explained that the difference in leadership and experience meant that what hadn t worked over the years could now start working because there was a new sheriff in town The oil industry expert explained that refineries currently seem to be operating at a low level due to the country s increasing population compared to the 1970s and 1980s when they were built He added that the population boom has also led to an increased number of vehicles and other oil consuming facilities along with the fact that some African countries also depend on Nigeria for refined oil products putting pressure on refineries The energy industry player said the Dangote Refinery which will soon come online will go a long way in boosting domestic oil refining and increasing its domestic supply He said There are indications that NNPC Limited has a stake of around 20 per cent in the Dangote refineries being built in Lekki Lagos It is the crude oil from Nigeria that will be channeled there for refining By the time the three Nigerian refineries and the Dangote refinery establish synergies Nigeria will no longer export crude oil to foreign countries for refinement and return to us at exorbitant prices Refining will be done locally here to inspire an affordable and stable oil price The importation of refined oil will be a thing of the past This is a legacy that Buhari s management and Kyari s leadership at NNPC Limited would be remembered for Therefore I encourage Nigerians to be patient as better days are ahead for us in the oil sector It s also interesting that huge jobs will be created for Nigerians when all the refineries are fully installed Saleh Hassan also justified the money the Federal Government spends on fuel subsidies emphasizing that removing oil subsidies would shake the nation s economy and negatively impact the masses He explained that retaining the subsidy was synonymous with the federal government paying people s bills According to him while the world is currently groaning due to the increase in oil prices due to the war between Russia and Ukraine Nigerians do not feel the pain so much due to the constant subsidy in force adding that the federal government is the only one carrying the load A gallon of PMS costs around N3 000 dollars per liter in Europe but a liter is still N165 00 in Nigeria It is the subsidy that guarantees this great relief for Nigerians For me Buhari and Kyari deserve applause for this gesture They are geniuses to guarantee the subsidy in the interest of the masses If the refineries start operating after they are rebuilt and the subsidy is removed then there would be no need for the subsidy Then taxes on other products and services could be removed and prices would come down and the living conditions of Nigerians would improve significantly Saleh Hassan added NAN
    Nigeria, Africa’s emerging refined petroleum products hub —Energy stakeholder
     Alhaji Muhammad Saleh Hassan an oil and gas shareholder and chairman of Skymark Energy and Power Ltd says Nigeria will become Africa s hub for refined oil products within the next two years Saleh Hassan made this claim in an interview with the Nigerian News Agency and select journalists in Abuja on Friday According to him the feat will be achieved thanks to the efforts made by the Administration of President Muhammadu Buhari He said the energy sector will soon change for the better particularly with ongoing efforts such as the renovation and reconstruction of the country s oil refineries by the Federal Government According to him President Buhari being the Minister of Petroleum Resources and Mr Mele Kyari the Group Managing Director of the Nigerian National Petroleum Corporation NNPC are already about to change the oil and gas sector for optimal benefits for Nigerians The refineries will surely soon begin to operate at full capacity and meet the wishes of the population By 2023 2024 Nigeria is expected to become the African hub for refined petroleum products This is the direction of NNPC Limited and it is focused on this feat which is achievable Whatever pains Nigerians are going through now it is a matter of time As it stands now it s a no pain no gain situation Nigerians must be assured that the perennial crisis in the oil sector will soon be over This is a sequel to the Federal Government s ongoing efforts to rebuild refineries and transform Nigeria into Africa s hub for refined petroleum products and an exporting nation he said Saleh Hassan explained that under Buhari and Kyari the oil sector is witnessing massive change thanks to their meticulous and proactive efforts that transformed the NNPC into a limited for profit company He noted that the corporation s new business status had seen it declare profits which also culminated in ensuring its stability and contributed greatly to the nation s economic growth The head of Skymark Energy expressed his dismay that trillions of naira had been wasted in the past on refurbishing refineries under different administrations but they failed to function at full capacity For the first time the country s three refineries in Port Harcourt Warri and Kaduna have witnessed some measures of stability compared to previous administrations when they were in a coma with the ensuing perennial crisis in the nation s oil sector But currently all refineries have been running steadily due to some degree of maintenance inspired by the Buhari led administration as well as Kyari s leadership as helmsman of the NNPC he said According to him NNPC Limited has completely changed thanks to the strong synergy between them In other words suggestions in the public domain that the renovation of Nigeria s refineries is a waste of public funds due to past failures do not hold water What NNPC Limited and the Federal Government are doing is not only the restoration but also the reconstruction of the refineries Obviously the current leadership is implementing the technological experience of the 21st century to achieve the purpose Therefore Nigerians should put past concerns behind them and look forward to new developments inspired by the concern and sincerity of the current government Saleh Hassan said Saleh Hassan also explained that the difference in leadership and experience meant that what hadn t worked over the years could now start working because there was a new sheriff in town The oil industry expert explained that refineries currently seem to be operating at a low level due to the country s increasing population compared to the 1970s and 1980s when they were built He added that the population boom has also led to an increased number of vehicles and other oil consuming facilities along with the fact that some African countries also depend on Nigeria for refined oil products putting pressure on refineries The energy industry player said the Dangote Refinery which will soon come online will go a long way in boosting domestic oil refining and increasing its domestic supply He said There are indications that NNPC Limited has a stake of around 20 per cent in the Dangote refineries being built in Lekki Lagos It is the crude oil from Nigeria that will be channeled there for refining By the time the three Nigerian refineries and the Dangote refinery establish synergies Nigeria will no longer export crude oil to foreign countries for refinement and return to us at exorbitant prices Refining will be done locally here to inspire an affordable and stable oil price The importation of refined oil will be a thing of the past This is a legacy that Buhari s management and Kyari s leadership at NNPC Limited would be remembered for Therefore I encourage Nigerians to be patient as better days are ahead for us in the oil sector It s also interesting that huge jobs will be created for Nigerians when all the refineries are fully installed Saleh Hassan also justified the money the Federal Government spends on fuel subsidies emphasizing that removing oil subsidies would shake the nation s economy and negatively impact the masses He explained that retaining the subsidy was synonymous with the federal government paying people s bills According to him while the world is currently groaning due to the increase in oil prices due to the war between Russia and Ukraine Nigerians do not feel the pain so much due to the constant subsidy in force adding that the federal government is the only one carrying the load A gallon of PMS costs around N3 000 dollars per liter in Europe but a liter is still N165 00 in Nigeria It is the subsidy that guarantees this great relief for Nigerians For me Buhari and Kyari deserve applause for this gesture They are geniuses to guarantee the subsidy in the interest of the masses If the refineries start operating after they are rebuilt and the subsidy is removed then there would be no need for the subsidy Then taxes on other products and services could be removed and prices would come down and the living conditions of Nigerians would improve significantly Saleh Hassan added NAN
    Nigeria, Africa’s emerging refined petroleum products hub —Energy stakeholder
    General news5 months ago

    Nigeria, Africa’s emerging refined petroleum products hub —Energy stakeholder

    Alhaji Muhammad Saleh-Hassan, an oil and gas shareholder and chairman of Skymark Energy and Power Ltd, says Nigeria will become Africa's hub for refined oil products within the next two years.

    Saleh-Hassan made this claim in an interview with the Nigerian News Agency and select journalists in Abuja on Friday.

    According to him, the feat will be achieved thanks to the efforts made by the Administration of President Muhammadu Buhari.

    He said the energy sector will soon change for the better, particularly with ongoing efforts such as the renovation and reconstruction of the country's oil refineries by the Federal Government.

    According to him, President Buhari, being the Minister of Petroleum Resources, and Mr. Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) are already about to change the oil and gas sector. for optimal benefits for Nigerians.

    “The refineries will surely soon begin to operate at full capacity and meet the wishes of the population. By 2023-2024, Nigeria is expected to become the African hub for refined petroleum products.

    “This is the direction of NNPC Limited and it is focused on this feat, which is achievable. Whatever pains Nigerians are going through now, it is a matter of time. As it stands now, it's a no pain, no gain situation.

    “Nigerians must be assured that the perennial crisis in the oil sector will soon be over.

    "This is a sequel to the Federal Government's ongoing efforts to rebuild refineries and transform Nigeria into Africa's hub for refined petroleum products and an exporting nation," he said.

    Saleh-Hassan explained that under Buhari and Kyari, the oil sector is witnessing massive change thanks to their meticulous and proactive efforts that transformed the NNPC into a limited, for-profit company.

    He noted that the corporation's new business status had seen it declare profits, which also culminated in ensuring its stability and contributed greatly to the nation's economic growth.

    The head of Skymark Energy expressed his dismay that trillions of naira had been wasted in the past on refurbishing refineries under different administrations, but they failed to function at full capacity.

    “For the first time, the country's three refineries in Port Harcourt, Warri and Kaduna have witnessed some measures of stability, compared to previous administrations when they were in a coma with the ensuing perennial crisis in the nation's oil sector.

    “But currently, all refineries have been running steadily due to some degree of maintenance, inspired by the Buhari-led administration as well as Kyari's leadership as helmsman of the NNPC,” he said.

    According to him, NNPC Limited has completely changed thanks to the strong synergy between them.

    “In other words, suggestions in the public domain that the renovation of Nigeria's refineries is a waste of public funds due to past failures do not hold water.

    “What NNPC Limited and the Federal Government are doing is not only the restoration, but also the reconstruction of the refineries. Obviously, the current leadership is implementing the technological experience of the 21st century to achieve the purpose.

    "Therefore, Nigerians should put past concerns behind them and look forward to new developments inspired by the concern and sincerity of the current government," Saleh-Hassan said.

    Saleh-Hassan also explained that the difference in leadership and experience meant that what hadn't worked over the years could now start working because there was a new sheriff in town.

    The oil industry expert explained that refineries currently seem to be operating at a low level due to the country's increasing population, compared to the 1970s and 1980s when they were built.

    He added that the population boom has also led to an increased number of vehicles and other oil-consuming facilities, along with the fact that some African countries also depend on Nigeria for refined oil products, putting pressure on refineries.

    The energy industry player said the Dangote Refinery, which will soon come online, will go a long way in boosting domestic oil refining and increasing its domestic supply.

    He said: “There are indications that NNPC Limited has a stake of around 20 per cent in the Dangote refineries being built in Lekki, Lagos. It is the crude oil from Nigeria that will be channeled there for refining.

    “By the time the three Nigerian refineries and the Dangote refinery establish synergies, Nigeria will no longer export crude oil to foreign countries for refinement and return to us at exorbitant prices.

    “Refining will be done locally here to inspire an affordable and stable oil price. The importation of refined oil will be a thing of the past.

    “This is a legacy that Buhari's management and Kyari's leadership at NNPC Limited would be remembered for. Therefore, I encourage Nigerians to be patient as better days are ahead for us in the oil sector.

    "It's also interesting that huge jobs will be created for Nigerians when all the refineries are fully installed."

    Saleh-Hassan also justified the money the Federal Government spends on fuel subsidies, emphasizing that removing oil subsidies would shake the nation's economy and negatively impact the masses.

    He explained that retaining the subsidy was synonymous with the federal government paying people's bills.

    According to him, while the world is currently groaning due to the increase in oil prices, due to the war between Russia and Ukraine, Nigerians do not feel the pain so much due to the constant subsidy in force, adding that the federal government is the only one. carrying the load.

    “A gallon of PMS costs around N3,000 dollars per liter in Europe, but a liter is still N165.00 in Nigeria. It is the subsidy that guarantees this great relief for Nigerians.

    “For me, Buhari and Kyari deserve applause for this gesture. They are geniuses to guarantee the subsidy in the interest of the masses.

    “If the refineries start operating after they are rebuilt and the subsidy is removed, then there would be no need for the subsidy.

    “Then taxes on other products and services could be removed and prices would come down and the living conditions of Nigerians would improve significantly,” Saleh-Hassan added.

    (NAN)

  •   The National Engineering and Technical Company NETCO a subsidiary of the Nigerian National Petroleum Company NNPC Ltd has declared a pre tax profit of N4 31 billion for the year ended December 31 2021 The Nigerian News Agency reports that Mr Adeyemi Adetunji Chairman of the Board of Directors of NETCO made the disclosure on Thursday at the company s 32nd Annual General Meeting in Lagos Adetunji said that NETCO overcame significant hurdles it faced as a direct result of the COVID 19 pandemic and the global energy shift that reduced investment in the sector He said NETCO has delivered a strong result posting a total pre tax profit of N4 31 billion which is an increase of 36 per cent from N3 17 billion in 2020 The company posted a total revenue of N18 49 billion in the year under review which represents a marginal increase of three per cent from N18 03 billion in 2020 This is the result of the liquidation of old projects and the income of new projects that are yet to come NETCO s operating profit stood at N1 40 billion an increase of 178 per cent on operating loss of N1 76 billion in the previous year It is noteworthy that NETCO s gross profit increased from N5 74 billion in the previous year to N9 24 billion in the year under review which represents an increase of 61 per cent Total comprehensive income stood at N4 45 billion compared to N0 841 billion recorded in the year 2020 which represents an increase of 430 per cent Mr Kanayochukwu Odoe Acting General Manager NETCOAccording to him it is remarkable that the company s involvement in NNPC s Refinery Rehabilitation project has established NETCO as a responsible service provider in refinery rehabilitation He said that in response to the challenges in the industry and the opportunities created by the Petroleum Industry Act PIA NETCO had embarked on aggressive marketing of its services Adetunji said he had also adopted cost optimization strategies to reposition NETCO for growth and profitability in times of PIA He commended NNPC Group CEO Mr Mele Kyari NETCO management and staff as well as other stakeholders for their efforts to achieve the company s mandate In addition Mr Kanayochukwu Odoe Acting Managing Director of NETCO said that management had stepped up efforts to build NETCO into a full Engineering Procurement and Construction EPC company with aggressive bids for major EPC projects Odoe said NETCO has further diversified its business portfolio to include cost benchmarking value for money audits and cost estimating services He said that in 2021 NETCO completed four projects and was currently executing 16 key contracts in the industry and had continued to contribute to the development of engineering and technical capacity in the country Odoe added that NETCO facilitated a training program for 13 young people from Ireland who were given entrepreneurial skills in fish farming computer applications web design catering leatherworking beading and event management He said management had set a revenue target of N36 58 billion for 2022 Odoe noted that the company s board had approved a gross dividend of N500 million which translated to 50k per share for its shareholders Odoe said NETCO would continue to enhance the Transparency Accountability and Performance Excellence TAPE initiatives promoted by GMD to remain commercially viable Source Credit NAN
    NETCO posts N4.31bn profit for 2021
      The National Engineering and Technical Company NETCO a subsidiary of the Nigerian National Petroleum Company NNPC Ltd has declared a pre tax profit of N4 31 billion for the year ended December 31 2021 The Nigerian News Agency reports that Mr Adeyemi Adetunji Chairman of the Board of Directors of NETCO made the disclosure on Thursday at the company s 32nd Annual General Meeting in Lagos Adetunji said that NETCO overcame significant hurdles it faced as a direct result of the COVID 19 pandemic and the global energy shift that reduced investment in the sector He said NETCO has delivered a strong result posting a total pre tax profit of N4 31 billion which is an increase of 36 per cent from N3 17 billion in 2020 The company posted a total revenue of N18 49 billion in the year under review which represents a marginal increase of three per cent from N18 03 billion in 2020 This is the result of the liquidation of old projects and the income of new projects that are yet to come NETCO s operating profit stood at N1 40 billion an increase of 178 per cent on operating loss of N1 76 billion in the previous year It is noteworthy that NETCO s gross profit increased from N5 74 billion in the previous year to N9 24 billion in the year under review which represents an increase of 61 per cent Total comprehensive income stood at N4 45 billion compared to N0 841 billion recorded in the year 2020 which represents an increase of 430 per cent Mr Kanayochukwu Odoe Acting General Manager NETCOAccording to him it is remarkable that the company s involvement in NNPC s Refinery Rehabilitation project has established NETCO as a responsible service provider in refinery rehabilitation He said that in response to the challenges in the industry and the opportunities created by the Petroleum Industry Act PIA NETCO had embarked on aggressive marketing of its services Adetunji said he had also adopted cost optimization strategies to reposition NETCO for growth and profitability in times of PIA He commended NNPC Group CEO Mr Mele Kyari NETCO management and staff as well as other stakeholders for their efforts to achieve the company s mandate In addition Mr Kanayochukwu Odoe Acting Managing Director of NETCO said that management had stepped up efforts to build NETCO into a full Engineering Procurement and Construction EPC company with aggressive bids for major EPC projects Odoe said NETCO has further diversified its business portfolio to include cost benchmarking value for money audits and cost estimating services He said that in 2021 NETCO completed four projects and was currently executing 16 key contracts in the industry and had continued to contribute to the development of engineering and technical capacity in the country Odoe added that NETCO facilitated a training program for 13 young people from Ireland who were given entrepreneurial skills in fish farming computer applications web design catering leatherworking beading and event management He said management had set a revenue target of N36 58 billion for 2022 Odoe noted that the company s board had approved a gross dividend of N500 million which translated to 50k per share for its shareholders Odoe said NETCO would continue to enhance the Transparency Accountability and Performance Excellence TAPE initiatives promoted by GMD to remain commercially viable Source Credit NAN
    NETCO posts N4.31bn profit for 2021
    Business5 months ago

    NETCO posts N4.31bn profit for 2021

    The National Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Company (NNPC) Ltd., has declared a pre-tax profit of N4.31 billion for the year ended December 31, 2021.

    The Nigerian News Agency reports that Mr. Adeyemi Adetunji, Chairman of the Board of Directors of NETCO, made the disclosure on Thursday at the company's 32nd Annual General Meeting in Lagos.

    Adetunji said that NETCO overcame significant hurdles it faced as a direct result of the COVID-19 pandemic and the global energy shift that reduced investment in the sector.

    He said: “NETCO has delivered a strong result, posting a total pre-tax profit of N4.31 billion, which is an increase of 36 per cent from N3.17 billion in 2020.

    “The company posted a total revenue of N18.49 billion in the year under review, which represents a marginal increase of three per cent from N18.03 billion in 2020.

    “This is the result of the liquidation of old projects and the income of new projects that are yet to come.

    “NETCO's operating profit stood at N1.40 billion, an increase of 178 per cent, on operating loss of N1.76 billion in the previous year.

    “It is noteworthy that NETCO's gross profit increased from N5.74 billion in the previous year to N9.24 billion in the year under review, which represents an increase of 61 per cent.

    "Total comprehensive income stood at N4.45 billion compared to N0.841 billion recorded in the year 2020, which represents an increase of 430 per cent."

    Mr. Kanayochukwu Odoe, Acting General Manager, NETCO

    According to him, it is remarkable that the company's involvement in NNPC's Refinery Rehabilitation project has established NETCO as a responsible service provider in refinery rehabilitation.

    He said that in response to the challenges in the industry and the opportunities created by the Petroleum Industry Act (PIA), NETCO had embarked on aggressive marketing of its services.

    Adetunji said he had also adopted cost optimization strategies to reposition NETCO for growth and profitability in times of PIA.

    He commended NNPC Group CEO, Mr. Mele Kyari, NETCO management and staff, as well as other stakeholders for their efforts to achieve the company's mandate.

    In addition, Mr. Kanayochukwu Odoe, Acting Managing Director of NETCO, said that management had stepped up efforts to build NETCO into a full Engineering, Procurement and Construction (EPC) company with aggressive bids for major EPC projects.

    Odoe said NETCO has further diversified its business portfolio to include cost benchmarking, value-for-money audits and cost estimating services.

    He said that in 2021, NETCO completed four projects and was currently executing 16 key contracts in the industry and had continued to contribute to the development of engineering and technical capacity in the country.

    Odoe added that NETCO facilitated a training program for 13 young people from Ireland who were given entrepreneurial skills in fish farming, computer applications/web design, catering, leatherworking, beading and event management.

    He said management had set a revenue target of N36.58 billion for 2022.

    Odoe noted that the company's board had approved a gross dividend of N500 million, which translated to 50k per share for its shareholders.

    Odoe said NETCO would continue to enhance the Transparency, Accountability and Performance Excellence (TAPE) initiatives promoted by GMD to remain commercially viable.

    Source Credit: NAN

  •   President Muhammadu Buhari has endorsed a plan to conclusively end fuel shortages in the country a presidential official said The official who revealed this on Sunday in Abuja said the plan would ensure that the incidence of fuel shortages does not happen again He said that in a matter of days virtually every state in the country would have returned to either a very low queue situation at gas stations or a full return to normalcy The source said that the plan which was presented to the Federal Executive Council FEC last week had been previously signed before it left the country last Sunday The plan according to the source had clear objectives that included a conclusive determination of the initial cause of the shortage with the consequent consequences imposed The plan is designed to do whatever it takes to end the shortage quickly and hold those responsible accountable in the first place to prevent a recurrence he said The Nigerian News Agency reports that what used to be a recurring decimal of fuel shortages had been reduced to minimal administration until the recent case of adulterated gasoline The plan outlined however had won the endorsement of the president and the praise of Vice President Yemi Osinbajo especially for the 24 hour operations informs that 24 hour sales in the country s main supply centers and 24 hour continuous loading in all warehouses coordinated personally by the Managing Director of the NNPC Group Mr Mele Kyari with the active participation of the General Director of the DSS Alhaji Yusuf Bichi are ongoing Operations also has an enforcement element with monitoring equipment to prevent any acts of sabotage and ensure smooth operations The 24 hour operations also included direct participation and support from members of the Nigerian Major Petroleum Traders Association the Nigerian Independent Petroleum Traders Association and private tank owners As of the previous week the source said the country had more than a billion liters of gasoline stocks equivalent to about a month s sufficiency based on evacuating 60 million liters per day He said that the loading areas of Lagos and Warri Oghara have the largest land stocks of gasoline with more than 200 million liters and more than 100 million liters respectively with the rest of the stocks being held as marine stocks According to the source the endorsed plan also maintains the high rate of evacuation which is the total amount of stock supplied until the distribution situation is normalized reports that the previous week a National Gas Station Row Map presented to the presidency and at FEC indicated that fuel supply had returned to normal in the four states of Bayelsa Akwa Ibom Cross River and FCT In six other states Oyo Osun Lagos Imo Abia and Ebonyi there were very small queues mostly about 10 cars at a time It also indicated that in 13 states there were medium queues of a maximum of 50 vehicles Those states were Delta Rivers Anambra Edo Ekiti Kogi Nasarawa Bauchi Kano Ogun Ondo Sokoto and Zamfara In the rest of the 14 states there were still tall lines of more than 50 cars at a time at gas stations as of the middle of last week The most important thing for the presidency is that this shortage be ended quickly and a recurrence in the future firmly prevented This now certainly seems possible the official said
    Buhari endorses plan to end fuel scarcity
      President Muhammadu Buhari has endorsed a plan to conclusively end fuel shortages in the country a presidential official said The official who revealed this on Sunday in Abuja said the plan would ensure that the incidence of fuel shortages does not happen again He said that in a matter of days virtually every state in the country would have returned to either a very low queue situation at gas stations or a full return to normalcy The source said that the plan which was presented to the Federal Executive Council FEC last week had been previously signed before it left the country last Sunday The plan according to the source had clear objectives that included a conclusive determination of the initial cause of the shortage with the consequent consequences imposed The plan is designed to do whatever it takes to end the shortage quickly and hold those responsible accountable in the first place to prevent a recurrence he said The Nigerian News Agency reports that what used to be a recurring decimal of fuel shortages had been reduced to minimal administration until the recent case of adulterated gasoline The plan outlined however had won the endorsement of the president and the praise of Vice President Yemi Osinbajo especially for the 24 hour operations informs that 24 hour sales in the country s main supply centers and 24 hour continuous loading in all warehouses coordinated personally by the Managing Director of the NNPC Group Mr Mele Kyari with the active participation of the General Director of the DSS Alhaji Yusuf Bichi are ongoing Operations also has an enforcement element with monitoring equipment to prevent any acts of sabotage and ensure smooth operations The 24 hour operations also included direct participation and support from members of the Nigerian Major Petroleum Traders Association the Nigerian Independent Petroleum Traders Association and private tank owners As of the previous week the source said the country had more than a billion liters of gasoline stocks equivalent to about a month s sufficiency based on evacuating 60 million liters per day He said that the loading areas of Lagos and Warri Oghara have the largest land stocks of gasoline with more than 200 million liters and more than 100 million liters respectively with the rest of the stocks being held as marine stocks According to the source the endorsed plan also maintains the high rate of evacuation which is the total amount of stock supplied until the distribution situation is normalized reports that the previous week a National Gas Station Row Map presented to the presidency and at FEC indicated that fuel supply had returned to normal in the four states of Bayelsa Akwa Ibom Cross River and FCT In six other states Oyo Osun Lagos Imo Abia and Ebonyi there were very small queues mostly about 10 cars at a time It also indicated that in 13 states there were medium queues of a maximum of 50 vehicles Those states were Delta Rivers Anambra Edo Ekiti Kogi Nasarawa Bauchi Kano Ogun Ondo Sokoto and Zamfara In the rest of the 14 states there were still tall lines of more than 50 cars at a time at gas stations as of the middle of last week The most important thing for the presidency is that this shortage be ended quickly and a recurrence in the future firmly prevented This now certainly seems possible the official said
    Buhari endorses plan to end fuel scarcity
    General news7 months ago

    Buhari endorses plan to end fuel scarcity

    President Muhammadu Buhari has endorsed a plan to conclusively end fuel shortages in the country, a presidential official said.

    The official, who revealed this on Sunday in Abuja, said the plan would ensure that the incidence of fuel shortages does not happen again.

    He said that in a matter of days, virtually every state in the country would have returned to either a very low queue situation at gas stations or a full return to normalcy.

    The source said that the plan, which was presented to the Federal Executive Council (FEC) last week, had been previously signed before it left the country last Sunday.

    The plan, according to the source, had clear objectives that included a conclusive determination of the initial cause of the shortage with the consequent consequences imposed.

    "The plan is designed to do whatever it takes to end the shortage quickly and hold those responsible accountable in the first place to prevent a recurrence," he said.

    The Nigerian News Agency reports that what used to be a recurring decimal of fuel shortages had been reduced to minimal administration until the recent case of adulterated gasoline.

    The plan outlined, however, had won the endorsement of the president and the praise of Vice President Yemi Osinbajo, especially for the 24-hour operations.

    informs that 24-hour sales in the country's main supply centers and 24-hour continuous loading in all warehouses coordinated personally by the Managing Director of the NNPC Group, Mr. Mele Kyari, with the active participation of the General Director of the DSS, Alhaji Yusuf Bichi, are ongoing.

    Operations also has an enforcement element with monitoring equipment "to prevent any acts of sabotage and ensure smooth operations."

    The 24-hour operations also included direct participation and support from members of the Nigerian Major Petroleum Traders Association, the Nigerian Independent Petroleum Traders Association and private tank owners.

    As of the previous week, the source said the country had more than a billion liters of gasoline stocks equivalent to about a month's sufficiency based on evacuating 60 million liters per day.

    He said that the loading areas of Lagos and Warri/Oghara have the largest land stocks of gasoline with more than 200 million liters and more than 100 million liters respectively, with the rest of the stocks being held as marine stocks.

    According to the source, the endorsed plan also maintains the high rate of evacuation, which is the total amount of stock supplied until the distribution situation is normalized.

    reports that the previous week, a National Gas Station Row Map presented to the presidency and at FEC indicated that fuel supply had returned to normal in the four states of Bayelsa, Akwa Ibom, Cross River and FCT.

    In six other states - Oyo, Osun, Lagos, Imo, Abia and Ebonyi - there were very small queues, mostly about 10 cars at a time.

    It also indicated that in 13 states there were medium queues of a maximum of 50 vehicles.

    Those states were Delta, Rivers, Anambra, Edo, Ekiti, Kogi, Nasarawa, Bauchi, Kano, Ogun, Ondo, Sokoto, and Zamfara.

    In the rest of the 14 states, there were still tall lines of more than 50 cars at a time at gas stations as of the middle of last week.

    “The most important thing for the presidency is that this shortage be ended quickly and a recurrence in the future firmly prevented.

    "This now certainly seems possible," the official said.