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 ...