NEWS MIRROR

Emmanuel Magani  By Favour Ifeoluwa & Akinola Ajibade Sahara Group,has advised Nigerian Electricity Regulatory Commission ( NERC) and its counterparts in other African Countries to adopt a market-based regimes, in order to provide sustainable gas development in the continent.  According to the company, appropriate pricing of the commodity remains the only way to enhance investment, increase production and consumption growth in countries across Africa.  Also, the group called for the inclusion of investors in gas policy development frameworks as part of the process of enhancing capacity and competitiveness of the sector in Africa. Speaking during the panel session on the subject, “The Game Changer: Enhancing African Gas Development Strategies and Investment Opportunities,” at the recent African Energy Week, AEW 2023, in Cape Town, South Africa, Managing Director, Sahara Group Limited, Emmanuel Magani, said: “It is also important to have the private sector drive a lot of

Seplat's Chief Executive Officer, Roger Thompson Brown  By Favour Ifeoluwa & Akinola Ajibade  Seplat Energy Plc,has recorded a rise in revenue N258.7billion to N478.1 billion in nine months ended 30th September, 2023. The firm, with dual listing in Nigerian and London Stock Exchanges, also declared a dividend of US3 cents per share in third quarter,  in line with higher core annual dividend of US 12 cents. It also  grew its 2023 nine months gross profit to N245.6bn from N118.5bn year-on-year whilst 9M 2023 production averaged 48,152 boepd, up 11 per cent on 9M 2022, with liquids production up 17 per cent. Seplat in its unaudited reports for nine months benefited from improved uptime at Forcados Oil Terminal and availability of the Amukpe-Escravos pipeline, supporting strong revenue, modestly offset by higher costs. Robust cash generation further strengthened the balance sheet,a statement said. This copuled with the fact that the company achieved more than 6.4 millio

Olugbodi By Favour Ifeoluwa & Akinola Ajibade The Society for Professional Background Screeners (SPBS), has accredited five major companies in order to enable them provide screening, security and risk based advisory services effectively in Nigeria.  The firms include Halogen Group, Risk Control Services Limited, Background Check International, Primex Background Check Limited and Proton Security Services Limited. This happens, as the body invites more firms to assist in championing the cause of background screening in Nigeria.  SPBS, in a statement signed by its Chairman, Mr Kola Olugbodi and made available to the  News Mirror, said the development was borne out of the needs to uphold the highest standards in the nation's screening industry.   "Our (SPBS) purpose is very clear. Right from the onset, our objectives are to minimize risks, uphold a reasonable level of integrity and establishing the highest and most valuable standard required for background screenin

Soneye  By Favour & Akinola Ajibade The National Petroleum Company Limited (NNPCL)  has announced the appointment of Mr Olufemi Oladapo Soneye as its Chief Corporate Communications Officer. The group, in  a statement made available to the media and signed by its management, said Soneye's appointment will bring about the much needed value its operations.  Soneye replaces Garba Deen Muhammed,  who was affected by the shake-up, which paved for the involuntary resignation of ninety top management staff of the corporation in September this year, less than fifteen (15) months to their statutory retirement in September 2023. According to a statement issued by NNPC and made available to the media, Soneye had a full-time and freelancing experience in the media, as evident in  his contributions to some of the highly respected publications in Nigeria, Australia, and the United States of America. The statement further said that Soneye is expected to lead NNPC’s Corporate Commun

House of Representatives Sitting in Abuja recently By Favour & Akinola Ajibade The House of Representatives( yesterday) Tuesday, ordered the Public Accounts Committee  to investigate N183.9billion disbursed to Ministries, Departments and Agencies of the Federal Government from 2020 to 2022.  The money, was part of the intervention funds, given to governments and their agencies, in order to curtail the impacts of COVID 19 on economies globally. In a motion moved on the floor of the House recently, Hon. Nyampa Dauda Zakari, noted that the sum of N83.9 billion was appropriated for the COVID-19 response in the 2020 appropriation Act as well as another sum of over N100 billion as intervention funds through supplementary budget and international donor agencies. According to him,the Auditor-General’s report and other sources reveal that significant funds for COVID-19 palliatives and international donations were diverted and unaccounted for by various Ministries, Departments an

Part of AKK Gas Pipeline By Favour & Akinola Ajibade Nigerian will enjoy energy security in the next few months, in the event that contractors handling the contractors handling the 614 kilometer Ajaokuta, Kaduna, Kano( AKK) gas pipelines were able to meet its completion deadline of July/ August 2024, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, gave this indication during a tour of the project recently. He said the country's economic prosperity is tied to the gas facility, urging contractors handling it to try and meet its 2024 deadline.  According to him, the AKK gas project was designed to supply gas to homes, automobiles, industries, with a view to strengthening the production of energy in the country. The Minister stated that power stations and industrial users within Abuja, Kaduna, Kano and adjourning states of the federation are going to benefit majorly from the initiative. Ekpo, who was accompanied on the tour of the facility by the top of

Umoh  By Favour & Akinola Ajibade The House of Representatives has commenced investigation into the death of Dr Michael Umoh, a medical personnel at the Lagos University Teaching Hospital (LUTH). The House through its Health Committee, said the probe would help in finding out the circumstances surrounding the death and further assist  medical personnel in Nigeria to have a less strenuous working plans. Similarly, the House Committee on Labour and Employment was mandated to assist in the assignment. Both committes are expected to report back within six weeks for further legislative action. The decision to investigate the matter followed the adoption of a motion titled, “Need to Investigate the Untimely Death of Medical Personnel on Duty” brought by Hon. Adedayo Samuel Adesola, (APC, Lagos). Moving the motion,Hon. Adesola noted the importance of medical personnel as the fulcrum of the healthcare delivery system. “The House also noted that on September 17, 2023, a medical

By Favour & Akinola Ajibade The Federal Government's decision to remove fuel subsidy has saved the Nigerian  National Petroleum Company, NNPC Limited from bankruptcy, the Chief Executive officer, NNPC Limited,Mallam Mele Kyari has said. The government had on May 29th 2023, announced the removal of subsidy, after several failed attempts. Kyari said this during the opening ceremony of the PENGASSSN Energy and Labour Summit, tagged PEARLS 2023 in Abuja. According to him,the law providing for subsidy effectively ended in 2022, adding that the extra budgetary provisions made to support subsidy till June this year was an initiative of the National Assembly. NNPC,  Kyari said, single handedly shoulder the burden of paying subsidy  to extent that it was fast heading towards bankruptcy before President Tinubu intervened. He added:”The law was very clear, that starting from the 17 of February, 2022 there can be no possibility of having subsidy on PMS. And that the market shou

Nigeria's economy requires domestic and foreign investments in order to compete favourably with others in the African continent, the Director of Research, Nigerian Economic Summit Group, Dr Olusegun Omisakin has said. He said areas such as infrastructure, education and health care require growth.  According to him, the group which is a think-tank for economic acceleration, will hold its summit between October 23 -24, will use growth as a sub theme for the event, adding that Nigeria would not have problem on how to shore up its domestic and global competitiveness, once it has embraced innovation and also enhanced skill acquisition programmes.  He said the idea would help in bringing diverse investments into the country for growth. The development, Omisakin said, will stimulate economic expansion, by providing employment opportunities for the country. He further said that strategic trade expansion in non-oil sectors with a focus on exports will diversify external revenue

Building To Last: Nurturing Excellence And Crafting Future African Leaders At United Bank For Africa Tony Elumelu Some moments resonate as profoundly remarkable in life, where dreams are born from humble beginnings and transformed into extraordinary realities. As I stood before 700 UBA graduate trainees, drawn from across Africa, I thought of the long journey that brought me to where I am today. A journey that began with the same vigour, dedication, and hope that I saw in these young Lions and Lionesses. I had the privilege of having my one-on-one induction session with UBA’s new graduate trainees on Tuesday. I love these sessions, as I eagerly anticipate interacting with the brilliant minds, that become part of our UBA-Tribe. I, too, started my career as a trainee many years ago, equipped with little more than ambition, a thirst for knowledge, and an unwavering commitment to excellence. I walked that same path as these bright minds, who have now become part of Africa’s Glo

Operators at the conference By Favour & Akinola Ajibade Oil marketers have kicked  against the decision of the Federal Government to reintroduce  oil subsidy regime in Nigeria, saying that the idea will further affect the economy.  They are drawn from groups such as Major Oil Marketers Association of Nigeria (MOMAN), Independent Marketers Association of Nigeria (IPMAN) among others. They spoke  during the recent Nigeria Association of Energy Correspondents( NAEC)  International Strategic Conference 2023, held in Lagos. Speaking against the backdrop of hitches in the distribution of Petroleum Motoring Spirit ( PMS) in the country, the Managing Director of 11 Plc, Mr  Tunji Oyebanji urged the sub-sector to  address the issue of    limitations in the importation of fuel must first come to an end, if meaningful growth would be achieve in that sector. “First and foremost, we need to get ourselves out of the bottleneck we have created for ourselves, in which NNPC is the sole

. NNPC's Headquarters By Favour & Akinola Ajibade The Nigerian National Petroleum Company Limited ( NNPCL) yesterday, sent over 70 management staffs on voluntary retirement. Also affected by the recent changes in NNPCL was its Chief Corporate Communication Officer, Garba Dean Muhammed on voluntary retirement, who was asked to hand over to its immediate subordinate in the organisation. NewsMirror findings revealed that the management staff starts from the rank of Deputy Manager among others senior officials, are affected in the recent changes in the company.. According to NNPCL, this retirement is different from what happened about two years ago when retirement was voluntary. The firm further said that the retirement is compulsory once the affected workers have less than 15 months to go.  The affected staff, NNPCL said are unfortunately not pensionable, adding that only those have spent 10 years and above are  qualified for pension. Prior to this period, NNPCL has sent packing s

. NNPC's Headquarters By Favour & Akinola Ajibade The Nigerian National Petroleum Company Limited ( NNPCL) yesterday, sent over 70 management staff, including its Chief Corporate Communication Officer, Garba Dean Muhammed on voluntary retirement.The nation's oil company simultaneously ask Muhammed's immediate subordinate to take over from him.  NewsMirror findings revealed that  management staff starts from the rank of Deputy Manager among others senior officials are affected in the recent shakes-up in the bank. According to the apex bank, this retirement is different from what happened about two years ago when retirement was voluntary. The bank further said that the retirement is compulsory once the affected workers have less than 15 months to go.  The affected staff, CBN said are unfortunately not pensionable, adding that only those have spent 10 years and above are  qualified for pension. Prior to this period, NNPCL has sent packing some of it

Ilu's corpse after the incident By Favour & Akinola Ajibade Tragedy strucked, recently in Jigawa State, as a 35-Year Old man committed suicide over hardship in the country.  Identified as Samaila Ilu, the victim was believed to have hanged himself days after ruminating over the harsh economy biting an average Nigerian citizens.  The victim, a native of Dungun Tantama Village, according to spokesman of the Police Command, DSP Lawan Shiisu Adam, said the incident happened on Thursday, August 17, 2023. According to him, the deceased left his house peacefully to the spot where he committed suicide, adding the residents of the local government discovered hours after seeing the body of Ismailia hanging. He said a team of police officers later took his corpse to the hospital for autopsy.   

NLC's protest  By Favour & Akinola Ajibade Nigeria's economy may worsened further, in the event that the Nigeria Labour Congress (NLC) embark on indefinite strike action.  Reason being that the development could lead to an unprecedented economic consequences for the country, especially  its over 200 million people. who are struggling to survive.  Recently, the meeting  between the Federal Government and NLC on the issue of improving welfares of the workers ended in a deadlock, a development, which implies that  labour union can make real its threat to embark on indefinite strike actioetween  Of note was inability of the government and NLC to reach agreement on how to avert the strike, before it starts.  Recall the the  Minister of Labour and Employment, Simon Lalong; and Minister of State for Labour and Employment, Nkeiruka Onyejeocha, met with the NLC President, Joe Ajaero, and other leaders in Abuja in an effort to stop organised labour from embarking on anoth

CEO NLNG, Mshelbila, Nigeria, Ghana, South Africa, Egypt, Libya, Kenya, Tanzania and other fourth seven( 47)  countries in African continent will significantly found natural gas useful as their populations are expanding, the Managing Director and Chief Executive Officer, Nigeria Liquefied Natural Gas Limited( NLNGL), Dr Philip Mshelbila has said.  He said the usefulness of gas lies in the fact it would a source of  energy mix in Africa, adding that the product would help in meeting the demands arising from rapid population growth and economic expansion. While making the remarks during a strategic session at the recently concluded 2023 Gastech Exhibition and Conference in Singapore, where he discussed Africa’s role in increasing supply resilience in the energy transition context, Msheibilia stated that African gas would enhance global energy security by increasing gas production, ensuring a steady supply source despite rising domestic consumption, and the growth of floating

One of state- owned airports in Nigeria By Favour & Akinola Ajibade   The General Manager, Nigeria Civil Aviation Authority (NCAA), Captain Musa Nuhu has passed a vote of no confidence on state-owned airports, describing them as wastes to their owners, mainly state governments. However, the former Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf said that four out of 32  airports in the country are economically sustainable. They include Murtala Muhammed Airport in  Lagos (which generates about 50% of the entire revenue), Nnamdi Azikiwe Airport in Abuja, Mallam Aminu Kano International Airport (MAKIA), and Port-Harcourt International Airport. Both remarks were made this Tuesday, during a virtual media conference in Lagos. The conference, which is second annual National Transport Technology Engagement and Exhibition,  had the theme, ‘The Viability of State-Owned Airports: Issues, Challenges and the Way Forward.   Many state-owned airpo

NCDMB's Executive Secretary, Wabote  By Favour & Akinola Ajibade Barring any unforeseen circumstances, the proposed Centre for Skills Development and Training (CSDT) will be ready for commission by  December end.  Initiated by the Petroleum Technology Development Fund( PTDF) to promote acquisition of skills relevant to the operation of oil and gas industry, the construction of the project which started in 2011, was heavily  boosted by the Nigerian Content and Development Monitoring Board(NCDMB). Located at Omagwa in Ikpere Local Government Area of Rivers State, the project, according to the State's  MINISTER for Petroleum Resources (Oil), Senator Heineken Lokpobiri is 85 per cent completion. Speaking during a visit to the project' site this Wednesday,  the minister ( Lokpobiri) said the  project will be completed in the next six weeks,  a statement, which implies that the project will be ready by December this year. He further said that  the centre has recei

Power Infrastructure By Favour & Akinola Ajibade The Minister of Power,Bayo Adelabu says fire outbreak was responsible for the grid collapse  experienced today across the country  In a statement on his X (Twitter)handle, Adelabu said the incident, which came with an explosion sound was was observed on Kainji/Jebba 330kV line 2 (Cct K2J) blue phase CVT & Blue phase line Isolator of Kainji/Jebba 330kV line1 was observed burning.  This led to sharp drops in frequency from 50.29Hz to 49.67 Hz at 0:35:06Hrs with Jebba generation loss of 356.63MW. Kainji Power station followed suit as it dropped load from 451.45 MW at 00:35:07Hrs to zero.  “At 00:41Hrs frequency dropped further from 49.37 Hz to 48.41Hz then resulted in system collapse of the grid.” The Transmission Company of Nigeria (TCN) underscored the Minister’s statement in a press release made available to the media that" “ The Transmission Company of Nigeria, TCN, hereby notes that grid restoration nationwide

Ugbo  By Favour & Akinola Ajibade The Managing Director, Niger Delta Power Holding Company ( NDPHC) Limited, Mr Chiedu Ugbo, said the sector regulator is working to resolve  payment of remaining N180 billion debts owed the company. He said this yesterday (Thursday) in Abuja, while outligining measures, which are being undertaken by the company to remove problems plaguing the distribution of electricity to consumers in the country. Recall that power distribution companies (DisCos)  have defaulted on the payment to Nigerian Bulk Electricity Trading (NBET) which guaranteed the power sold to them for onward distribution to customers. Ugbo however explained that, “It is a systemic issue in terms of collections from the distribution companies to the Nigeria Bulk Electricity Trading NBET (N-BET) and N-BET pays us. It is a systemic issue   and because of that, we owe some gas companies as well. " NPPHC Ugbo is  working to r esolve the payment of outstandings ow