A destroyed refinery By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks. Also, the company said 63 illegal pipeline connections were uncovered during the the weeks . The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge. According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation. It further said that two large boats, which involve
By Favour Ifeoluwa & Akinola Ajibade
The Nigerian Content Development and Monitoring Board (NCDMB) Executive Secerary, Engr. Felix Omatsola Ogbe has applauded President Bola Ahmed Tinubu, for announcing three Presidential Executive Orders in order to deepening activities in the nation's energy sector.
The orders would help in encouraging new investments in the sector, reducing contracting costs and timelines, and promoting cost efficiency in local content requirements. The Executive Orders are the Oil and Gas Companies (Tax Incentives, Exemption, Remission, ETC) Order 2024; Presidential Directive on Local Content Compliance Requirements, 2024 (EO 41); and Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024 (EO 42).
Speaking at the Nigerian Content Tower in Yenagoa, Bayelsa State, the Executive Secretary stated that the policy directives had reinforced the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and codified the Service Level Agreements (SLA), which the NCDMB first introduced in May 2017 to fast-track approvals for the Nigeria LNG Limited Train 7 project, before expanding it to the entire industry after signing a Memorandum of Understanding (MoU) with the Nigerian National Petroleum Company Limited (NNPC Ltd) and five international oil-producing companies in September 2023.
Ogbe clarified that the Presidential Executive Orders did not whittle down the powers of the NCDMB or abrogate the schedule of the NOGICD Act. Instead, according to him, the Executive Order 41 mandates the Board to ensure the patronage of local companies with domiciled proven capacities and capabilities to achieve cost competitiveness and project delivery within schedule.
He equally pointed out that Executive Order 42 reemphasized NCDMB’s obligation to fast-track approval processes as required by the SLA and section 23 of the NOGICD Act, which mandates the Board to review projects’ documentation within 10 days and advise the concerned operating company.
He assured that the Board would comply with the terms of the Presidential Executive Orders, insisting that the Board had always been pragmatic with its implementation of the NOGICD Act and mindful of the cost competitiveness of projects and schedules.
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