NEWS MIRROR

Adelabu  By Favour Ifeoluwa & Akinola Ajibade The Federal Government is planning to  fix the gas problems bedevilling the Nigeria's power sector soon., the Special Adviser, Strategic Communication & Media Relations to Power Minster, Mr Tunji Bolaji has said.  Chief Adebayo Adelabu remains the Nigeria's Minister of Power  Tunji, who spoke on behalf of the Power Minister, said the government is making efforts to ensure payments of outstanding to generation companies, with a view to improve gas supply and increase electricity generation in the country.  This Tunji said, will enable distribution companies(DisCos)  to supply more electricity to Nigerians. The government, he said,  acknowledges that the current situation is unsustainable and its expecting  a turnaround immediately”, the statement added.  According to him, the problem in the sector has adversely affected production leading to blackout in some parts of the country...

By Favour Ifeoluwa & Akinola Ajibade  Oil workers under the auspices of the Petroleum  and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has kicked against the planned sale of Shell’s onshore assets, claiming the group being speculated to buy up the assets is unknown to it. Recall that Shell on January 16th this year, said it would sell its Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), for a consideration of $1.3 billion, with buyers making an additional payment of up to $1.1 billion relating to prior receivables at completion. Subsequently, PENGASSAN issued a statement, describing the purported group, which is planning to buy the onshore investment of Shell in Nigeria as entities without proven track records. According to PENGASSAN's President & Secretary respectively, Comrade Gedtus Osifo and Lumumba Okugbawa respectively, plan to sell SPDC is a ruse. “We reject without equivocation all the terms affecti...

By Favour Ifeoluwa & Akinola Ajibade The Nigerian Extractive Industry Transparency Initiative(NEITI) will start prosecution of offenders in the industry soon, if the plans of the National Assembly is anything to go by. The Chairman, House of Representatives Committee on Petroleum Resources (Downstream), Ikeagwuonu Ugochinyere, gave this indication during a discussion with the  officials of the agency recently.  According to him, the parliament, in accordance with the  directives of the Senate, is working to  t review NEITI Act, with a view to grant the agency  powers to implement the findings of its investigation, and possibly execute the recommendations of their report.  He added that 70 lawmakers have consented to co-sponsor legislative instruments to realize this objective. F He said: “We are considering granting NEITI powers to prosecute those found to be in breach of extant laws.We are also considering strengthening the governance struc...

By Favour Ifeoluwa & Akinola Ajibade The Transmission Company of Nigeria(TCN) says gas constraints is responsible for lower power generation to the national grid. This follows irregular supply of electricity across the country and the inability of the privatised power sector units to address the problems bedevilling the sector.  In a statement issued yesterday( Wednesday)  by TCN’s General Manager, Public Affairs, Ndidi Mbah and made available to the media, Mbah  said that the development has impacted the quantum of bulk power available on the transmission grid for onward transmission to the distribution load centers nationwide. The statement reads, ‘’The Transmission Company of Nigeria TCN hereby announces that there has been a gradual decrease in available generation into the grid due to gas constraints to the thermal generating companies, which has impacted the quantum of bulk power available on the transmission grid for onward transmission to the distr...

Osimhen  By Favour Ifeoluwa & Akinola Ajibade Napoli & Super Eagles forward  Victor Osimhen  says he is going to take a new challenge at the end of next season. Osimhen scored 26 goals to help guide Napoli to their first Serie A title in 33 years during the last campaign. Through this, he has cemented his legacy in Naples.  However, their attempt to defend their top-flight crown has proven to be a disaster. Napoli is down in ninth position in the standings and 21 points adrift of leaders Juventus. That has not stopped Osimhen recently penning a contract extension, keeping him tied to Napoli until 2026, but a release clause is believed to be present in his new deal. While the exact fee is unclear, it is believed to be at least €120 million (£102.67m), ensuring that Napoli remain in a strong position with regards to his future. Nevertheless, that has not stopped speculation regarding the next move of his career coming sooner rather than later. There...

The newly appointed Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Felix Omatsola Ogbe will deliver a keynote address at the opening of PETAN’s SAIPEC 2024 conference in Lagos.  Also, delegates at SAIPEC’s opening ceremony will also hear from Nicolas  Odinuwe, Chairman, Petroleum Technology Association of Nigeria, PETAN, Gbenga Komolafe, Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission, while Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers’ Organization, APPO, will set out plans from an APPO perspective. The eight edition of Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) is a world-class energy event offering direct access to Africa’s stakeholders and key energy players across the continent. Its full and varied programme, guided by an esteemed steering committee will stretch across three days with both informative strategic and technical streams,...

By Favour Ifeoluwa & Akinola Ajibade  The Canadian Government, yesterday (Monday) announced a two-year cap on Nigerians and other international students who wish to  obtain new study permit.  The country's Immigration Minister Marc Miller said for 2024, the cap is expected to result in approximately 364,000 approved study permits, a decrease of 35% from 2023. In addition to the cap, the Canadian government will also require international students applying for a permit to provide an attestation letter from a province or territory. Miller also announced changes to the post-graduation work permit program, starting that from September, international students who begin a program that is part of a curriculum licensing arrangement — where a private college has been licensed to deliver the curriculum of an associated public college — will no longer be eligible for a post-graduation work permit. Graduates of master’s and other “short graduate-level programs” will “...

By Favour Ifeoluwa & Akinola Ajibade Nigeria's Super Eagles is likely going to face a tough team in the Round of  16  at the ongoing 2023  Africa Cup of Nations finals following their second place finish in Group A of the tournament. The  country, which is managed by Jose Peseiro  stand the chance of battling the defending champions, Senegal, Guinea or their eternal rivals, Cameroon. Prior the final group games today (Tuesday), Senegal was leading the group with six points, while Guinea and Cameroon have four and one points respectively. Recall that Nigeria booked their place in the knockout stages of the Africa Cup of Nations as they picked up a 1-0 win over Guinea-Bissau. The Super Eagles went into their final group-stage match knowing a point would secure their progression through to the last-16, though defeat might still have left them qualifying as one of the best third-placed teams. It was a relatively sluggish start from Nigeria, but they ...

NNPCL's Group Chief Executive Officer, Mallam Mele Kolo Kyari  The Nigerian National Petroleum Company Limited(NNPCL) says it would repay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank in 2022.  The national oil company, said this in a document titled: Frequently Asked Questions – Project Gazelle’, released by its Chief Corporate Communications Officer, Olufemi Soneye on  August 17, 2023. Recall that NNPCL in a report published by PUNCH Newspaper, announced that it had secured a $3.3bn emergency crude oil repayment loan from the African Export-Import Bank. The company further said that the loan would be used  to help the Federal Government stabilise  Nigeria’s exchange rate.  Speaking further on the deal as contained in the document, the firm said: “Everything you need to know about the NNPC Limited’s $3.3bn loan, also known as Project Gazelle. There has been a lot of in...

By Favour Ifeoluwa & Akinola Ajibade  Only 23 out of 345 companies with a turn over revenue of $1 billion in Africa (N1 trillion using official exchange rates), are in Nigeria,the Presidential Enabling Business Environment Council (PEBEC),has said . PEBEC disclosed this in its recently released 2024 Outlook document which also details the Secretariat’s work plan for 2024 along with expected outcomes. Explaining the outlook, the Special Adviser to the President on Ease of Doing, Business, Dr. Jumoke Oduwole, said the federal government will roll out interventions this year to make businesses more viable. “Out of the 345 USD1 billion companies in revenue in Africa, only 23 are in Nigeria. She noted that the decision to change models stems from the observation that larger businesses exhibit an ‘osmosis’ effect, leading to the clustering of stakeholders. She added: “It was determined that we will need to have this new approach to move faster and to grow the economy fast...

By Favour Ifeoluwa & Akinola Ajibade Eterna Oil Plc has been appointed as the domestic sales distributor of  Dangote Petroleum Refinery Products in Nigeria, its Managing Director, Mr Benjamin Nwaezeigwe has said.  The company is a key in the nation's energy sector with presence in Lagos and other parts of the country  Based on this, the firm's pivotal role as a major distributor of Dangote’s domestic products has not only  been solidified, but also underlined its commitment to enhance  product supply.  Expressing enthuasim about the collaboration with Dangote Petrochemical Refinery Plant, Eterna Oil Plc, Nwaezeigwe said the partnership is a good one, capable of stgregtheniing the operations of both companies and Nigeria in particular. He added: “We are proud to be appointed as an official distributor of Dangote refinery domestic sale in Nigeria. This partnership with Dangote refinery is a demonstration of our commitment to providing Nigerian...

Sanusi during the intertive session By Favour Ifeoluwa & Akinola Ajibade No fewer than N1.6 trillion will be spend on subsidizing electricity for end users by the Federal Government in 2024, the Executive Secretary,  Nigeria Electricity Regulatory Commission ( BERC) , Garba Sanusi has said.  He said this yesterday( Wednesday) during an interactive session with journalists  in Abuja  According to him, the amount was not sustainable, going by the bad economy in Nigeria. Recall that NERC last night( Wednesday) posted the review tarriff for the operating electricity distribution companies with provision of subsidy. The NERC boss, who spoke passionately about the new tarrif review said: “I want to correct the impression that for one year we haven’t had any review. The reality is that the reviews have been done but what happened is what you pay as a customer is a blend of regulation and and policy. “If we have determined that you should be paying N150 and t...

NNPCL' s CGMD, Kyari at the event. By Favour Ifeoluwa & Akinola Ajibade  The  Nigerian National Petroleum Company Limited (NNPC Ltd.) is seeking collaboration between between the academia and the Oil & Gas Industry in the order to enhance socio-economic growth in the country, its  Chief Group Managing  Director, Mr Mele Kolo Kyari made this known yesterday ( Wednesday).  He said the development would help addressing the challenges of energy sufficiency and sustainability. He said this  during the 2024 Faculty Lecture titled, “Energy Security, Sustainability and Profitability in Nigeria: Advances, Challenges and Opportunities,” organized by the Faculty of Science of the Obafemi Awolowo University (OAU), Ile-Ife, Osun State.  According to him, the partnership between the academia and the Oil&Gas sector would assist in safeguarding national energy security through research and collaboration with the industry. The NNPC's helsman poi...

By Favour Ifeoluwa & Akinola Ajibade Ibadan, Oyo State Capital was yesterday throwned into confusion, following a fire outbreak in the ancient city.  Reliable sources said that the fire was caused by an explosion, yesterday ( Tuesday) evening. ( A loud bang was heard and vibration was felt across several locations in Ibadan at about 7:45 p.m.one of the sources said. Unconfirmed reports say the explosion emanated The source further said that  a gas plant around the Universit of Ibadan/ axis of the city was mostly affected by the incident.. Some affected persons shared pictures and videos of broken window glasses from their apartments. However, casualties in the incident are unknown as at press time. Unconfirmed reports say the explosion emanated from a gas plant around the UI-Bodija axis of the city. Some affected persons shared pictures and videos of broken window glasses from their apartments. 

Group Managing Director, Mallam Mele Kolo Kyari  By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited ( NNPCL) is seeking  plans to engage reputable and credible operators for effective magement of Harcourt Refinery.   Through this means, the refinery which has been stately managed alongside others since its establishment in 1965, will be handed over to private operators for seamless operation.  The aim is to ensure that the refinery resume effective production of crude oil and further help in boosting consumption of locally refined petroleum products. Recall that Nigeria for decades has battled insufficiency in the area of crude production, a development, which resulted in importation of refined petroleum products amid other problems.  The National Oil Company, in a statement, said the move is to' snsure reliability and sustainability  towards meeting the nation’s fuel supply and energy security obligati...

By Favour Ifeoluwa & Akinola Ajibade The Federal Government is investigating the moribound Ajaokuta Steel Company Limited accrued electricity debt of  N33 billion, just as the Transmission Company of Nigeria disconnected  the company from the national grid, the Minister of Steel Development, Shuaibu Audu has said.  He spoke to State House Correspondents on Thursday after meeting President Bola Tinubu at to the Aso Rock Villa.  Recall that TCN on Wednesday disconnected ASCL from the national grid as the moribund company failed to clear a debt of N33bn owed to the NBET and service providers. The N33bn comprises N30.85bn for energy and capacity delivered by NBET and N2.22bn owed to service providers. The minister, however vowed to deal with the matter. The Minister was shocked  at the huge electricity debt accumulated on energy consumption, even as it was operating below capacity. “I mean these are some of the things that need to be clearly looked i...

By Favour Ifeoluwa & Akinola Ajibade The Federal Government is investigating how the moribound Ajaokuta Steel Company Limited accrued N33 billion electricity debt, a development, which prompted the Transmission Company of Nigeria to disconnect the company from the national grid, the Minister of Steel Development, Shuaibu Audu has said.  He spoke to State House Correspondents on Thursday after meeting President Bola Tinubu at to rthe Aso Rock Villa.  Recall that TCN on Wednesday disconnected ASCL from the national grid as the moribund company failed to clear a debt of N33bn owed to the NBET and service providers. The N33bn comprises N30.85bn for energy and capacity delivered by NBET and N2.22bn owed to service providers. The minister, however vowed to deal with the matter. He was surprised  at how the company accumulated such debt in electricity consumption when it had not been in operating in full capacity. “I mean these are some of the things that need to...

.         President Tiinubu  By Favour Ifeoluwa & Akinola Ajibade President Bola Ahmed Tinubu has suspended all the programmes administered by the National Social Investment Programme Agency (NSIPA). The Director Information, Office of the Secretary to the Government of the Federation,Mr Segun Imohiosen, who revealed this recently, said that the suspension was to allow  ongoing investigation of alleged malfeasance in the management of the agency and its programmes. According to him, the The Presidency said that all the four (4) Programmes administered by NSIPA, viz; N- Power Programme, Conditional Cash Transfer Programme, Government Enterprise and Empowerment Programme and Home Grown School Feeding Programme (the “Programs”) have been suspended for a period of six (6) weeks in the first instance. Imohiosen also confirmed that President Tinubu has raised significant concerns regarding operational lapses and improprieties surrounding paym...

Pix: Ogbe and  Komolafe during a visit in  Abuja  By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive of the Nigerian Upstream Petroleum the Regulatory Commission (NUPRC), Engr. Gbenga Komolafe,has said that the Nigerian upstream sector is facing severe pressures because of the low crude oil production and lack of investment in recent years, the Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission ( NUPRC), Engr Gbenga Komolafe has said.  He said this when the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe visited him recently,  According to him, the energy map of the world had changed considerably with the emergence of several new oil-producing countries. He said that the development has induced a high level of competitiveness for investment capital, stressing that strategic actions must be taken to make the Nigerian environment investor-friendly. H...

Swartz   By Favour Ifeoluwa & Akinola Ajibade  Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Company Limited (NNPCL) and CNL, has appointed Jim Swartz as the Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit. The firm, in a statement made available to the media, said the  appointment takes effect on April 1, 2024,according to a statement on Wednesday. Until his appointment, Swartz was Vice President, Capital Projects based in Houston, USA. CNL’s General Manager, Policy, Government and Public Affairs, Esimaje Brikinn, in a statement  on Wednesday, January 10, said Swartz brings a wealth of experience in the upstream business and a proven ability to build effective partnerships with stakeholders. A graduate of the University of Nebraska-Lincoln where he received a Bachelor of Science in Geology, Swartz also obtained a Master of Science in Geology from the University of ...

By Favour Ifeoluwa & Akinola Ajibade  The Central Bank of Nigeria (CBN) dissolved boards and managements of Union Bank, Polaris Bank, Keystone Bank and Titan Trust Bank, due to their non-compliance to certain provisions of industry laws, the apex bank said this in a statement on its official X microblogging account. Prior to this period, speculations are rife earlier in Abuja that CBN would wield the hammer against the banks. According to the CBN, the action was taken due to the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h), of Banks and Other Financial Institutions Act, 2020. The Banks’ infractions vary from regulatory non-compliance, corporate governance failure, disregarding the conditions under which their licenses were granted, and involvement in activities that pose a threat to financial stability, among others. The statement reads, “The Central Bank of Nigeria (CBN) has dissolved the boards and t...

By Favour Ifeoluwa & Akinola Ajibade The Nigerian Content Development Monitoring Board( NCDMB) Executive Secretary, Mr Felix Ogbe is seeking collaborations with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC); and National Insurance banks Commission ( NAICOM) for national growth. Ogbe said this during his visit yesterday ( Tuesday) to the offices of both institutions in Abuja. At the respective secretariats of both government and industry agencies namely NAICOM and NUPRC in Abuja,  Ogbe met the Commissioner for Insurance, Mr Sunday Olorundare  and NUPRC's Boss and Mr Gbenga Komolafe on the issue. The meeting by the new NCDMB boss aimed at familiarizing himself with chief executives of institutions that are represented on the NCDMB’s Governing Council as well as exploring areas of collaboration. In his remarks, Ogbe conveyed the willingness of the NCDMB to deepen its partnership with key agencies of the Federal Government to achieve the economic as...

By Favour Ifeoluwa & Akinola Ajibade Bayelsa Police Command has commenced investigations into the death of a mother of three whose body was dumped in a gutter along Akali Street in Yenagoa, the state capital, the Command's  Assitant Supretendent of Police, SP Musa Mohammed, has said.  The ASP, who is also the spokesman of the  command,said this yesterday( Monday). According to Mohammed, a police team had evacuated the corpse and commenced investigation to unravel the circumstances behind her death. He said no suspect has been arrested but investigation was on to track those responsible for her death. He said the corpse of the woman was discovered on Sunday morning following an offensive odour from the drainage where she was dumped. Eyewitnesses said the body showed signs that she was strangled before she was dumped into the gutter. Residents of Akali street identified the deceased as Ese, who hailed from Egbo community in Delta State. She traded in cow ski...

By Favour Ifeoluwa & Akinola Ajibade  The Federal High Court, yesterday ( Monday) ordered that Prof. Cyril Ndifon, the suspended Dean of Faculty of Law, University of Calabar (UNICAL), be remanded in Kuje prison.   He  was charged for sexual harassment of female students in the University.  Ndifon, who is being prosecuted by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) before Justice James Omotosho, however pleaded not guilty to the four-count charge. The News Agency of Nigeria (NAN) reports that the ICPC, though its counsel, Ebenezer Shogunle, had filed the charge marked: FHC/ABJ/CR/511/23 on Oct. 30, 2023 against Ndifon. The defendant, in count one, was alleged to have, between June and September 2023, used his office and position to gratify himself by soliciting for nude photographs and videos from a year 2 diploma female student of the university through WhatsApp chats on his telephone number: ...

By Favour Ifeoluwa & Akinola Ajibade The University of Ilorin has recorded a great feat, by promoting a dynamic duo of twin-brothers as Professors on the same day. They are Ahmed Oloduowo Ameen and Mubarak Oloduowo Ameen.  Newsmirror reports that the two men are known as Academic Powerhouse Siblings in the University.  The University in its social media page added that Professor Ahmed is shaping minds in the Department of Computer Science, while Professor Mubarak enriches the Department of Chemistry. The statement read; “Introducing Ahmed Oloduowo Ameen and Mubarak Oloduowo Ameen, a dynamic duo of brothers who achieved the remarkable feat of being promoted to the rank of Professor on the same day at Unilorin. Professor Ahmed is shaping minds in the Department of Computer Science, while Professor Mubarak enriches the Department of Chemistry. “Cheers to academic excellence and sibling goals" The University said.

By Favour Ifeoluwa & Akinola Ajibade The University of Lagos says five of the professors purportedly discovered by  the National Universities Commission, are not  from the university. The University's  Head of the Communication Unit, Adejoke Alaga-Ibrahee said in statement issued to newsmen on Saturday night, while reacting to information in some sections of the media that the NUC had uncovered about 100 professors spread across some Nigerian universities, including the University of Lagos. Alaga-Ibraheem described the report as unsubstantiated and urged the public to disregard it. She said: “The attention of the University of Lagos (UNILAG) Management has been drawn to an unsubstantiated report on social media, claiming that the NUC has  uncovered fake professors in some Nigerian universities, including ours. “For the avoidance of doubt, the university management hereby explicitly refutes the five names listed as ‘fake’ professors of the university. ...

By Favour Ifeoluwa & Akinola Ajibade  The Central Bank of Nigeria (CBN) will launch the Nigerian naira (cNGN) stablecoin on February 27, 2024. The cNGN is powered by the Africa Stablecoin Consortium (ASC), a consortium of Nigerian financial institutions, fintechs, and blockchain experts. Stablecoins are cryptocurrencies uniquely designed to maintain a constant value, as they are often pegged or tied to another currency, commodity, or financial instrument. In a statement on its website,the ASC said the cNGN stablecoin has met the regulatory standards and requirements as created by the CBN, the Nigerian Securities and Exchange Commission (SEC), and the Nigerian Financial Intelligence Unit (NFIU). The ASC said it is committed to enhancing secure and compliant financial interactions, transforming the manner people transact and engage with their money securely and effortlessly. “This ushers in a new era of financial fluidity, bridging the Nigerian Naira with the global m...

By Favour Ifeoluwa & Akinola Ajibade  A 75-year old woman, daughter and grand daughter were last week, burnt to death by suspected arsonists at Oketekwe in Idah Local Government Area of Kogi State. Named Mallama Opeoluwa Sabi,the woman  was set ablaze alongside her daughter identified as Hajara and  granddaughter. The incident occurred in the early hours of last Thursday. Sources said that the assailants invaded the residence of Sani, who was bestowed with the title of Akwuma Attah Igala in 2023 by Attah Igala, with petrol, with which they sprayed the house, and then set it ablaze.  While Sani and Hajara were reported to have died on the spot on Thursday, her daughter, who made it alive to the hospital, gave up on Friday, police spokesman in Kogi Police Command, William Aya has said.  According to Aya, a Superintendent of Police, : “Someone came to the station and reported that there was a fire outbreak in one of the rooms in the house in their f...

 To improve the sector in the year, our recommendations are listed as follows: expend cost saving from fuel subsidy to deploy a bouquet of production focused policies, backed with more structural measures to combat the peculiar inflationary pressures from insecurity, energy and transport cost, overhaul the power sector and incentive investment in renewables to boost electricity generation and promote energy-cost efficiency, government should lead by example and give priority to patronage of made-in-Nigeria product in all its purchases and for all government contracts and projects. Government should mandatorily upscale patronage of made in Nigeria products by deliberately reducing the excessive reliance of the country on imported products. The three tiers of Government should enforce the implementation of the Executive Order 003 in same for their ministries, departments and agencies and government should encourage local sourcing of raw materials through comprehensive and...