NEWS MIRROR

Lokpobiri By Favour Ifeoluwa &. Akinola Ajibade The Honourable Minister of Petroleum Resources, Sen Henekein Lokpobiri has said reiterated that he stands by his statement  at the Petroleum Club quarterly event  in  Lagos that over N500milion of the industry fund in equity investment in private establishments and loans are now  non performing.  While reacting to media statement made by Mr Simbi Wabot, former Executive Secretary of Nigerian Content Development  Monitoring Board ( NCDMB), dismissed the claims that he asked for an  increase in budget of N30bilion for the Office of the Minister. In a statement by Nnaemakar Okafor, S.A Media & Communication, for Minster of State for Petroleum Resources( Oil)the Minister noted: Secondly the Minister gas no aide  called Blackson.  All his aides are duly selected in line with extant laws and have documents to that effect.  According to the chairman, the Minister in his capacit...

Hon Lokpobiri By Favour Ifeoluwa & Akinola Ajibade The Minister of State for Petroleum Resources ,Hon Henekein Lokpobiri says he has not wasted over N500billion equity fund  private establishments, as alleged by the former NCDMBs s 'Chairman, Mr Simbi Wabote.  According the Minister, the former NCDMB leader, the allegations that he gave out the funda as unperfoming loans was not true. He spoke during the quarterly and recent  event of Petroleum Club  in Lagos, stressing that his office has not requested for an increase in budget by N30bllion, as alleged by erstwhile NCDMB's Executive Secretary, Mr Wabote.  The Minister noted through a statement made by his Special Adviser, Media & Communication, Nneamakar Okafor said that:"  The position of His Office is that he who made allegations must prove  the same.  So, if Mr Wabote has proof of such conversation, he is challenged to provide it to the public."  Adding tha...

Ekpo  Fed  Govt to Execute Brass Agreement This  May  By Favour Ifeoluwa & Akinola Ajibade The Federal Government will  sign Gas Supply and Purchase Agreement ( GSPA) to support  Brass Methanol Project in May 2024, the Minister of for Petroleum Resources,, Hon. Ekperkipe Ekpo, has said. He said the agreement aimed at supporting the Final Investment Decision (FID) for the Project. According to Louis Ibah, the Minister made the announcement yesterday, after a meeting  with key stakeholders of the project in his office in Abuja.  The meeting aimed at confirming whether there is adequate gas supply to the Brass Methanol Project by the NNPC/Shell/TotalEnergies/NAOC Joint Venture (JV), as well as determine the next steps to conclude and execute the GSPA and mature the phase 2 of gas supply to the project. Present at the meeting were the Head of Joint Venture (JV), Investment Management, NNPC Upstream Investment Management Services, Mr. O...

Ekpo  Fed  Govt to Execute Brass Agreement This  May  By Favour Ifeoluwa & Akinola Ajibade The Federal Government will  sign Gas Supply and Purchase Agreement ( GSPA) to support  Brass Methanol Project in May 2024, the Minister of for Petroleum Resources,, Hon. Ekperkipe Ekpo, has said. He said the agreement aimed at supporting the Final Investment Decision (FID) for the Project. According to Louis Ibah, the Minister made the announcement yesterday, after a meeting  with key stakeholders of the project in his office in Abuja.  The meeting aimed at confirming whether there is adequate gas supply to the Brass Methanol Project by the NNPC/Shell/TotalEnergies/NAOC Joint Venture (JV), as well as determine the next steps to conclude and execute the GSPA and mature the phase 2 of gas supply to the project. Present at the meeting were the Head of Joint Venture (JV), Investment Management, NNPC Upstream Investment Management Services, Mr. O...

Axella' s Director of Business Development, Mr Franklin Imole By Favour  Ifeoluwa & Akinola Ajibade Axella's Gas Processing Plant announces Final Investment Decision ( FID) to develop a 50 MMASCF/D Gas Processing Plant, with h a view to deepen utilisation of gas  in the country. The firm, which is situated  in 0ML 56 in Delta State,  said that its making strategic investment in order to ensure that gas is available for industrial use in Nigeria. Situated in  Delta State, Southern Nigeria and billed to commence operation by the end of 2024, the facility, Axella' said, boasts of 12 MMSCF  Modular Plant with an interconnection pipeline network of about 4kilometres alongside other ancillary infrastructure. The facility, the company added, is expected to commence operation by the end of this year. Speaking on the plant ,  Axella's  Director of Business Development, Franklin Imole said: " As the Federal Government continues to pursue its...

The Nigerian Content Development and Monitoring Board (NCDMB) has conducted an executive tours  of Saipem's offices in Milan, Italy, in preparation for Nigerian Liquefied  has conducted an extensive on-site monitoring exercise of contractors and Equipment manufacturers handling different components of equipment and facilities for the NLNG Train 7 Project, in the out-of-country project activities in Italy. The NCDMB in a statement obtained by EnergyDay at the weekend, stated this when Mr. Akintunde Adelana, NCDMB, Director Monitoring and Evaluation, led the Board’s delegation to the inspection visit. The delegation began an oversight tour of Saipem’s offices in Milan, Italy, on September 25, 2023. By EnergyDay gathered that the Saipem Chiyoda Daewoo Joint Venture (SCDJV), Project Contractor is Engineering, Procurement, and Construction (EPC) contract responsible for the detailed design and construction phase of the seventh train at the Nigeria LNG plant in Bonn...

  NNPCL's  GCEO, Mele Kyari By  Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited ( NNPCL) will demisyify the cost of oil and gas production soon, Its Chairman, Chairman, Mr Wole Ogunsanya has assured.  He gave the assurance, when he led members of his team during a courtesy call to the Group Chief Executive Officer of NNPC, Mr Mele Kolo Kyari at the NNPC Towers in Abuja In a statement signed by PETAN's Executive Secretary, Engr Innocent Akuvee and made available to the News Mirror, he said"  Realising that all hands must be on deck in line with the Presidential Mandate to move the economy through increased production, Ogunsanya pledged all encompassing capacity which its members have garnered for decades on local content journey to ramp up oil and gas production for the country at a reduced cost". " Our cost of production compared to other countries is too high and at PETAN, we feel the responsibility ...

President Tiinubu  By Favour Ifeoluwa & Akinola Ajibade The Federal Government is not leaving any stone unturned to conclude the sale of $1.3 billion ExxonMobil oil assets to Seplat Energy Plc in order to increase investment and Nigeria’s production capacity, the Minister of State for Petroleum Resources, Senator Heineiken Lokpobiri has said.  He said President Bola Tinubu has already directed him to ensure that all issues bordering on investment and production including sale of Exxon Mobil Assets are addressed, as part of efforts to widen the country 's capacity to improve its output.  He spoke on the issue during a dinner organised for industry's stakeholdersi in Abuja. He said: "The President has directed that we resolve all issues hindering investment in the industry. There are many oil well that have been idle for years. I have been engaging stakeholders, including the International Oil Companies, IoCs and indigenous oil companies on how to keep ...

  Dr Sanda  By Favour Ifeoluwa & Akinola Ajibade The  Federal High Court sitting in Abuja, yesterday ( Thursday), ordered the reinstatement of Dr  Tunde Sanda led  management team of Eko Electricity Distribution Company ( EKEDC) pendingt the determination of the suit seeking the interpretation of NERC’s Orders. However, EKEDP Chairman, Dere Otubu remains adamant as our investigation revealed that Dr. Sanda is yet to resume office despite the latest court order. The Chairman, Legal and Regulatory Compliance Board Committee of EKEDP, had via an Originating summons requested the Court to interpret NERC Directives, which the Chairman of EKEDP had based the recall of the Management team on. Recall that the Chairman of Eko Disco  unilateral leleaved the Managing Director (/Chief Executive Officer  alongside some senior staff of their duties in EKEDP and redeploy same to their parent company, WPG Limited, on the NERC Directive. The NERC order ...

Adelabu  By Favour Ifeoluwa & Akinola Ajibade The Minister of Power, Adebayo Adelabu says the new electricity tarif hike would affect only 1.2 million out of 12million consumers in the sector.. This is coming days after the Federal Government announced hike in tarif for consumers ón Band 'A' to N225 per kilowatt, since they are mostly in high income bracket.  The government made the announcement on April 4th, this year. Speaking on Channels Television''s Politics Today recently, Adelabu said that the new tariff imposed on electricity consumers is flexible as it is capable of changing with time. According to him, the statement made by him that consumers should manage consumption of electricity well was not meant to insult the sensibilities of Nigerians in any form, as misinterpreted by a section of the populace, but to ensure proper usage of power and bills.  “The statement was a piece of innocent advice about energy consumption management which we believ...

Ladoja  By Favour Ifeoluwa & Akinola Ajibade The Otun Olubadan of Ibadanland, High Chief Rashidi Ladoja, has diagreed with the positions  of  ome Ibadan High Chiefs over the health status of the Olubadan-designate, Oba Owolabi Olakulehin. Ladoja said that the comments were mere  opinions since the chiefs were not medical personnel. He said this on Wednesday,  while addressing newsmen after Eid-el-Fitri prayer at his residence in Ibadan. Recall that Otun Balogun Olubadan of Ibadanland, Oba Abimbola Ajibola recently quoted by media as saying the Olubadan designate is sick and needs time to get well before his coronation. “Has anyone seen him since last Friday? Those who attempted to visit him after Friday were unsuccessful. They are coercing him. We should allow him to recuperate”, he said. However, Ladoja said thats such views were speculative and not based on medical facts. “His comments and others on the health status of Olubadan designate are m...

The Actors Guild of Nigeria (AGN) has officially confirmed the passing of Nollywood actor John Paul Odonwodo, popularly known as Junior Pope. Recall that the actor along with three others, tragically passed away after their boat capsized in the Anam River in Anambra State at a film location. In a Facebook post on Thursday morning, the Actors Guild of Nigeria (AGN), Emeka Rollas, mentioned that while he initially announced Junior Pope’s survival in excitement upon noticing the tingling of his fingers, he eventually passed away after attempts to resuscitate him were unsuccessful. He added, “Two notable hospitals tried their best to revive him, but to no avail. God knows the best. We finally lost him. “Mr Friday corpse has been identified but three other corpses are yet to be found.”

Representative of the GCEO NNPC Ltd and Head of the Company’s Relationship and Stakeholder Management, Mrs. Oluwakemi Olumuyiwa exchange pleasantries with Engr. Charles Osezua, author of  “The Rise of Gas: From Gaslink to the Decade of Gas”  during the public presentation of the book in Lagos, yesterday. By Favour Ifeoluwa & Akinola Ajibade The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.) Mr. Mele Kyari, has  re-emphasised rthe crucial role of natural gas in the development of Nigeria.  Kyari, who was spoke at the public presentation of the book “The Rise of Gas: From Gaslink to the Decade of Gas” authored by Engr. Charles A. Osezua, said gas is a crucial energy source, whichs in sustaining economic growth and drives industrial activities. Represented by NNPC Ltd’s Head of Relationship and Stakeholder Management, Mrs. Oluwakemi Olumuyiwa, the GCEO said the role  emphasized the roles played by gas in the ...

By Favour Ifeoluwa & Akinola Ajibade The Federal Government has declared Tuesday and Wednesday, April 9 and 10, 2024, as public holidays to mark the Eid-el-Fitr celebration. The Minister of Interior, Olubunmi Tunji-Ojo, disclosed this in a statement yesterday ( Sunday) by the ministry’s permanent secretary, Aishetu Ndayako. The minister congratulated all Muslims for the successful completion of the fasting in the holy month of Ramadan. She urged muslims to  imbibe and practise the virtues that entail kindness, love, tolerance, peace, good neighbourliness, and compassion, as exemplified by the Holy Prophet Muhammad (Peace be upon Him). The statement read, “The Federal Government of Nigeria has declared Tuesday, 9th and Wednesday, 10th April, 2024 as public holidays to mark Eid-el-Fitr celebration. “The Minister of Interior, Dr. Olubunmi Tunji-Ojo, congratulates all Muslim Ummah for the successful completion of the fasting in the holy month of Ramadan. “She  call...

By Favour Ifeoluwa & Akinola Ajibade The Petroleum Association Technology of Nigeria ( PETAN) is ready to support President Bola Ahmed Tinubu led government m the country, its Chairman, Mr Wole Ogunsanya has said. He gave this assurance in Lagos, when the newly elected representatives of National Association of Energy Correspondents ( NAEC) paid him acottesgy visit. Currently, Nigeria the country produces far below 40 per cent of the of the oil and gas value chain, a development, which is lesser than. what Nigeria nees fo be ranked among the 20  top economies. in the world.  However, Ogunsanya said that if Nigeria can retain between 60 to 70 percent oil and gas valve chain, she stands a better chance of emerging  one of top 20 best economies. According to PETAN, Nigeria is producing below 500, 000 barrels of crude oil per day, adding that the figure is a huge loss to the country. The losses, Ogunwole said, would not have been the case,  if there was f...

By Favour Ifeoluwa & Akinola Ajibade The Chief Executive Officer, De-Haryor Global Services Limited, Engr. Ashade Olatunbosun says  increased metering of households, businesses and other customers would enhance investment and growth in Nigeria’s power sector. He, also said that the Federal Government has through many interventions in the electricity sector has  encouraged supply and installation of prepaid meters nationwide. In a statement issued in Lagos and made available to the media,  Olatunbosum, said increased metering will continue to enhance quality service delivery, and revenue collection while encouraging investors to invest more resources toward growing the sector from one level to another. According to him, his company, which was established in 2009, has not only remained an active player since 2016,but has been  providing quality products and services to customers, adding that its smart meters cannot be tampered with or altered in any way...

MAN's Chairman, Otunba Francis Meshioye  By Favour Ifeoluwa & Akinola Ajibade The Manufacturers Association of Nigeria (MAN) says the recent decisions made by the Monetary Policy Committee (MPC) will negatively impact its  activities in the country. In a statement issued by MAN’s Director General, Segun Ajayi-Kadir and made available to News Mirror, the association urged the MPC to carefully consider the consequences of its actions on the manufacturing sector. MAN emphasized the importance of collaboration between the MPC and fiscal authorities to support the industry, which plays a crucial role in creating jobs, boosting productivity, generating foreign exchange earnings, and driving economic growth. While acknowledging the MPC’s efforts to address economic challenges such as inflation and exchange rate instability, MAN pointed out that the continuous increase in the prime lending rate over the past two years has not yielded the desired results for the manufac...

L-R:CEO, Egbin Power, Mokhtar Bounour; Hon. Minister of Power, Adelabu Adebayo and Group Managing Director, Sahara Power Group, Mr. Kola Adesina during the visit of the Minister of Power to the Plant in Lagos. By Favour Ifeoluwa & Akinola Ajibade The Federal Government will as from this April,  start off setting debts owed the Nigeria’s largest power generation company, Egbin Power and also tackle the problems posed shortage of gas and foreign exchange in the nation's power sector, the Minister of Power, Chief Adebayo Adelabu has said. He spoke during his visit to the power Plant as part of his strategic measures to strengthen understanding among stakeholders, offer robust support to players, and address the challenges in the sector, with the overall aim of boosting power supply in Nigeria. While affirming the government's commitment on the issue, the Minister said: “The Federal Government is prioritising paying down on the outstanding debt and I have assured th...

By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Corporation ( NNPC Limited has debunked the claims that it has adjusted the price of  Premium Motor Spirit  (PMS) and Automotive Gas Oil( Diesel) at its retail stations nationwide. NNPC in a statement issued to clarify rumours, said that the reports are false and urges Nigerians to disregard them entirely. " NNPC Ltd reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country.

Staff of the Hospital By Favour Ifeoluwa & Akinola Ajibade Workers of the University College Hospital (UCH) Ibadan, in Oyo state have protested over epileptic power supply in the institution,saying they cannot continue to work in darkness. They spoke yesterday ( Wednesday) during a congress organised by Joint Action Committee (JAC),which is the umbrella body of all the unions in the hospital. According to JAC Chairman, Comrade Oludayo Olabampe, the power supply to the hospital has been cut off by Ibadan Electricity Distribution Company (IBEDC) since Tuesday, 19th March, 2024 due to N495m debt. Olabampe,who spoke on behalf of other staff of the hospital appealed to the Federal Government, the St ate Governor, Seyi Makinde and other stakeholders to come to the aid of the hospital. He added that staff of the hospital have been working in a terrible conditions since the power supply was cut off. He said that the workers will not be able to perform their duties as expected ...