NEWS MIRROR

NDDC received $142 million from Shell Nigeria, Partners in 2023 Shell Petroleum Development of Nigeria Limited,  (SPDC), Shell Nigeria Exploration and Production Company Limited ( SNEPCo) have paid a total of $142.5 million to thei Niger Delta Development Commission(NDCC). The funds came from  Shell Companies and their partners Shell Nigeria Exploration and  A total of $142.5 million was paid to the Niger Delta Development Commission (NDDC) last year by The Shell Petroleum Development of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Productioln Company Limited (SNEPCo). SPDC paid $112.5 million while SNEPCo remitted $30 million compared to $59.04 million by SPDC and $20.73 by SNEPCo in 2022.     The contributions came from the Shell companies on behalf of themselves and their respective partners –.  Nigerian National Petroleum Company Limited (NNPC); TotalEnergies, EP Nigeria Limited; NAOC; and Esso Exploration and Production Nigeria Limited – as statutory contributions to the i

By Favour Ifeoluwa & Akinola Ajibade The Federal Government has commissioned a 5.2 million standard cubic feet per day (mmscfd) Compressed Natural Gas (CNG) plant in Lagos, the Minister of State for Petroleum Resources (Gas) Rt. Hon. Ekperikpe Ekpo has said.  The government, yesterday ( Thursday) commissioned the plant in Isolo Industrial Area, Ilasamaja in Lagos under the theme" From Gas to Prosperity: CNG for All”, represents a critical turning point in the development of affordable, sustainable, and secure energy sources in the country. The NNPC's Chief Corporate Communications Officer,  Mr Olufemi Soneye, in a statement signed and made available to News Mirror, described 2024 as a historic year for Nigerians stressing that through his courageous decision to eliminate fuel subsidies and promote the acceptability and broader use of LPG, President Bola Tinubu has brought about several fresh beginnings in the lives of Nigerians. “Although the elimination of the

By Favour Ifeoluwa & Akinola Ajibade The Shell Petroleum Development of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) paid at total of $142.5 million was paid to the Niger Delta Development Commission (NDDC)  in 2023 SPDC paid $112.5 million while SNEPCo remitted $30 million compared to $59.04 million by SPDC and $20.73 by SNEPCo in 2022, Shell have said in a statement.  The contributions came from the Shell companies on behalf of themselves and their respective partners –Nigerian National Petroleum Company Limited (NNPC); TotalEnergies, EP Nigeria Limited; NAOC; and Esso Exploration and Production Nigeria Limited – as statutory contributions to the interventionist agency. “Our support for NDDC is part of our aspirations for the development of the Niger Delta which has also seen a wide range of social investments, including health and education,” SPDC Director and Country Head, Corporate Relations Igo Weli said in a statement o

L-R: Group Chairman, Mr. Tony O. Elumelu and Group Managing Director/CEO, Mr. Oliver Alawub, at the 62nd AGM of United Bank for Africa (UBA) held in Abuja. By Favour Ifeoluwa & Akinola Ajibade Shareholders of United Bank for Africa (UBA) Plc, have praised its  board and management on the payment of final dividends of N78.7bilîon for the financial year ending 2023. The shareholders took turns to express their delight during the bank’s 62nd Annual General Meeting which was held at the Congress Hall of Transcorp Hotels in Abuja  last Friday. They  overwhelmingly approved the Board of Director’s proposal to raise additional capital through the issuance of securities comprising ordinary shares, preference shares, convertible and/or non-convertible notes, bonds or any other instruments in the Nigerian and/or international capital market. The Bank's Group Chairman, Mr. Tony Elumelu, appealed to shareholders to participate fully and re-invest their dividends in the bank’s r

Agama  By Favour Ifeoluwa & Akinola Ajibade Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), will deal decisively with the recurring issue of unclaimed dividends in the Nigerian capital market. Its Acting Director-General, Dr. Emomotimi Agama, has said. He spoke last weekend in Abuja, during a meeting with the executives of Institute of Capital Market Registrars (ICMR), where he described unclaimed dividend  in the capital market as a monster. According to him, SEC will soon issue  a framework that will guide the capital market in the proposed recapitalisation exercise by banks.  He said registrars must embrace technology as one of the ways of ensuring that the issue of unclaimed dividends in the capital market becomes a thing of the past.  “Unclaimed dividends is a monster that we must deal with now. Whatever it will take to deal with it, we must do it. We must embrace technology as one of the ways to deal with it. “Let us put our thou

ACU, Oyo  By Favour Ifeoluwa & Akinola Ajibade Ajayi Crowther University, Oyo arrested two members of its vigilance group for allegedly raping a female student of the institution. The management, in a statement signed by its Public Relations Officer, Olufemi Atoyebi, said the university had set up a panel of inquiry to investigate the incident which occurred on May 9, 2024. According to Atoyebi, the suspects were handed over to the police with a vow to ensure a heavy penalty awaits anyone found culpable after a thorough investigation. The statement read in part, “Management of Ajayi Crowther University, Oyo, received with shock a report of alleged rape of one of our female students on Thursday, May 9, 2024, by two members of our vigilance group. The management promptly handed over to the police, the two people alleged to have committed the crime while the university set up its internal panel of inquiry to investigate the allegation. “The management wishes to assure all

Officials of NNPCL & Schlumberger (SLB) in Abuja By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Corporation NNPC's Energy Services Limited ( EnServ) and Schlumberger (SLB), a renowned global technology company, yesterday  signed a technical partnership agreement towards bolstering upstream operations. The agreement was signed at the NNPC Limited’s Corporate Headquarters in Abuja on Thursday, with senior management teams from both companies in attendance. Speaking  after the signing the agreement the , Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari described the ongoing reforms within the industry as a trigger for potential release of investments in the short term. “Quite a number of reforms are unfolding, and at the back of it is a potential release of investment that we are seeing in a very short term. Our physical environment is excellent today; contracting processes have been reviewed by virtue of the clear reforms Mr. Pre

NGA Recognises Okunbor and Shell Nigeria for Outstanding Contributions to Nigeria’s Gas Industry From Left to Right: President, Nigerian Gas Association (NGA), Akachukwu Nwokedi; Managing Director, Shell Petroleum Development Company (SPDC), Osagie Okunbor; Shell Principal Adviser, Governance, and Information Management, Ifeoma Okonkwo; Manager, Corporate Planning & Strategy, NLNG, Akitunde Adetunji and Financial Secretary, NGA, Engr. Chukwuemeka Iheme, during the Association’s courtesy visit to SPDC Office in Lagos recently. By Favour Ifeoluwa & Akinola Ajibade The Nigerian Gas Association (‘NGA’) has recognized and expressed deep appreciation for the outstanding contributions of Mr. Osagie Okunbor, Managing Director of The Shell Petroleum Development Company of Nigeria Limited (‘SPDC’) and Country Chair of Shell Companies in Nigeria, towards the advancement of Nigeria’s gas sector. This recognition came during a recent courtesy visit by the NGA’s Executive Council

By Favour Ifeoluwa & Akinola Ajibade  Seplat Energy Plc has emerged winner of Sustainability Reporting Award at the maiden edition,  organised by the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Ltd (NGX RegCo). The company, with listing in the Nigerian and London Stock Exchanges ( NSE & LSE)  won the award during a  ceremony in Lagos. The event aimed at recognising the top 30 most capitalised companies listed on the Nigerian Exchange Ltd (NGX) for the 2022 financial reporting year.. Speaking at the event,  ICAN's President,  Dr. Innocent Okwuosa, lauded NGX RegCo for ensuring better disclosures and reporting among listed companies. Okwuosa noted that corporate reporting over time had evolved, as there was a shift from a primary focus on financial reporting to the increasing request to incorporate social and environmental disclosures.  He said  that the organisation had evolved and had been differently propagated, including but not lim

By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Corporation Limited (NNPCL), yesterday ( Friday) said that the depot gutted by fire in Lagos belonged to Honeywell and not its subsidiary. This is contrary to reports in the media the facility  located at Kayode Street, Marine Beach, Apapa area of the state belonged to the NNPCL. NNPC Limited, in a statement by its Chief Corporate Communications Officer, Olufemi O. Soneye, said that the incident took place at a depot belonging to HOGL Energy Ltd (Honeywell Depot), and not an NNPC Retail Ltd.’s facility as circulated by early responders.  “The fire, which has since been extinguished, was as a result of petroleum products spillage within the perimeter of the tank farm,” the statement said. Meanwhile, NNPC Ltd and other depots in the area have resumed loading activities. NNPC assures that the incident will, in no way, affect petroleum products supply and distribution across the country. According to an ey

PLATINUM BIRTHDAY ANNIVERSARY OF ELDER ADE ADEDAMOLA OGIDAN, A FOREMOST JOURNALIST & EDITOR By Favour Ifeoluwa & Akinola Ajibade Like a new born child, beaming with smiles for coming out of his mother's womb in order to live a fulfiled life, the celebrator,Ade Ogidan fits perfectly well into this category. Simply known as AAO, a shorten form of Ade Adedamola Ogidan, the thorough based journalist is without doubt, a  well grounded newsman.. With Bachelor of Science ( BSC) Degree in   Sociology and Anthropology( 1976 ) from University of Nigeria, Nsukka,  Ogidan has cut his teeth well in Journalism. Prior to this, he  taught in Osogbo Grammar School and worked at the Nigerian Communication respectively  after his youth service, a development, which no doubt prepared  him well for journalism profession and other future engagements. Pragmatic, resilient and outspoken, where it matters, Ogidan ensured  that his tenure as the first Chairman of Pineapple Estate, Ikorod

By Ifeoluwa Favour & Akinola Ajibade The Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo says Nigeria will lay emphasis on licences for distribution gas  to end users iacross  the country.  This is coming on the heels of recent gas explosion at Ita Oshin in Abeokuta, Ogun State,where a truck conveying Compressed Natural Gas(CNG) had brake failure, crashed into the road barricade and went up in flames.  The accident resulted in loss of lives and properties.  The Minister, who was on visit to the site of the event recently,  said that a shift from  trucking to gas to the end users  to issuance of distribution licences would help  guarantee  safety of the product.  Ekpo said going forward, rather than trucking to the end users, the regulators will emphasize issuance of distribution licences that will ensure that licensed distributors invest in the installation of pipelines to deliver gas directly to end users. He said the shift from trucking to pipeline tra