All Posts in "Month: October 2024"

FG Inks $3.3bn Gas Agreement For Nigerian Methanol Plant

 

 

The Federal Government,through the Nigerian National Petroleum Company Limited, has signed an agreement to begin sales of gas to the methanol-manufacturing project of the $3.3bn Brass Fertilizer & Petrochemical Company Limited.

 

 

 

The gas sales-and-purchase agreement was signed with Shell, TotalEnergies and Agip on Friday in Abuja, nine years after the project was first announced, a report by The Punch said. 

 

 

 

At the signing ceremony,the Minister of State for Petroleum Resources, Ekperikpe Ekpo said the signing represented “a significant milestone in ongoing efforts to monetise Nigeria’s vast gas reserves.”

 

 

 

 

 

 

According to him,the agreement indicates a significant milestone in efforts to utilise the abundant natural gas resources for rapid industrialisation and economic growth.

 

 

 

 

He stated:“This signing ceremony is a significant milestone in the development of the US$3.3 billion Brass Methanol Project, it is one more step in the journey to making the project a reality, and I urge all parties to continue in the same steadfastness that has enabled us to surmount all previous hurdles”.

 

 

 

 

 

He added that the project is also expected “to bring in much-needed Foreign Direct Investment and create thousands of jobs for our teeming population while changing the face and fortunes of the host state and community for good.”

 

 

 

 

 

He also implored all the parties to sustain the steadfastness with which they overcame the hurdles of making the signing for the project a reality by achieving a financial close and commencing the actual construction of the project within the shortest possible.

 

 

 

 

 

He added:“The project is expected to generate more than $1.5bn annually from exports of fertilisers, petrochemicals, and other gas-based products on completion.

 

 

 

 

 

“​In addition to boosting exports, the project will reduce fertiliser imports by 30 per cent, saving Nigeria approximately $200m in foreign exchange annually,” as well as creating thousands of jobs.”

 

 

 

The deal will enable Brass and its partners to proceed with the construction of the $3.3 billion project, while NNPCL and its partners are expected to deliver an estimated 270 million standard cubic feet of gas daily to the project, located on Brass Island in southern Bayelsa state.

 

 

 

Also speaking at the event,the Ministry of Petroleum Resources Permanent Secretary, Ambassador Nicholas Ella, said the Brass Fertilizer and Petrochemical Project, valued at $3.5bn,will generate more than $1.5bn annually from exports of fertilizers, petrochemicals, and other gas-based products.

 

 

 

 He explained that the agreement,is a key achievement within the Decade of Gas initiative, launched by President Bola Tinubu’s administration, which aims to position gas as the cornerstone of Nigeria’s industrialisation and energy security.

 

 

 

He added:“It is projected to contribute around $600m annually to Nigeria’s GDP, with a broader economic impact of up to $2bn per year, thanks to the growth it will spur in related industries.

 

 

 

“The project will also create over 5,000 direct jobs and 35,000 indirect jobs, significantly improving the livelihoods of many Nigerians, particularly in the Niger Delta region.”

 

 

 

He said the initiative aligns with Nigeria’s commitment to achieving zero routine flaring by 2030 and advancing the goals of the National Gas Policy by fully utilising its gas resources for sustainable development.

 

 

 

 

 

Online Editor by — October 11, 2024 in Oil&Gas 0
Court Stops PDP From Removing Damagum As Acting National Chairman

 

Mohammed Shosanya

 

 

Justice Peter Lifu of the Federal High Court sitting in Abuja, has restrained the National Executive Committee (NEC) and Board of Trustees (BoT) of the Peoples Democratic Party (PDP) from removing Ambassador Umar Ilya Damagum as the Acting National Chairman of the party.

 

 

 

The court on Friday, ordered that no other person must be recognized as PDP national chairman other than Damagum until the national convention of the party scheduled for December next year.

 

 

 

The plaintiff,who claimed to be Chairman of PDP in Yobe State had filed the legal action against the PDP and eight others, claiming that some stakeholders of the party have been holding secret meetings to forcefully remove Damagum from office in gross violation of the party’s Constitution.

 

 

 

 

Justice Lifu made the order against the PDP hierarchy while delivering judgment in a suit filed against them by Senator Umar El-Gash Maina.

 

 

 

In the suit marked: FHC/ABJ/ CS/579/2024, the court held that PDP members are bound by the Constitution of the party and as such must always act in line with the provisions and obedience to the party’s law.

 

 

 

Besides,Justice Lifu reasoned that in line with Articles 42, 47 and 67 of PDP, it is only at the National Convention of the party that national officers can be elected.

 

 

 

He stated that after going through the PDP’s Constitution and exhibits, he agreed with the plaintiff that Damagum can only be replaced at the national convention of PDP or through an order of a court.

 

 

The court held that any attempt to truncate an un-exhausted four-year tenure of the northern region without the national convention of the party will amount to an affront to the Constitution of the PDP.

 

 

 

The Judge had earlier in his judgment, dismissed the objection of the defendants to the suit on the grounds that the plaintiff had no locus standi to bring out the case and that the court lacked jurisdiction.

 

 

Justice Lifu said  that the plaintiff based his suit on the protection of PDP Constitution from being breached and the northern region where he hails from, being short changed from the four year tenure.

 

 

 

The court stated that the plaintiff having displayed his PDP membership card before the court and having raised the fundamental issue of protecting PDP’s Constitution, had sufficient interest and justiciable cause to institute the case.

 

 

According to the court, Damagum having been appointed from the northern region where the former national chairman Senator Iyorcha Ayu hails from is entitled to serve out the remaining tenure of the national chairman.

 

 

 

In an affidavit filed before the court, the plaintiff averred that a former Deputy Governor of Kogi State, Dr Phillip Omeiza Salawu was being pushed forward as replacement for Damagun by the stakeholders.

 

 

 

Maina claimed that upon becoming aware of the plan, two separate letters complaining against the clandestine meetings were delivered to the national secretary of the party, Senator Samuel Anyanwu and that despite the acknowledgment of the two letters, the National Secretary and BoT members have never deemed it fit to act on the letters and their claims.

 

 

 

In the suit instituted on his behalf by Joshua Musa, SAN, the plaintiff therefore prayed the court to invoke article 45, 47 and 67 of PDP Constitution to stop the move to replace Damagum as the Acting National Chairman.

 

 

 

The plaintiff specifically asked the court to declare that the national chairmanship of PDP is rotated between the north and south region and not through any other procedure not enshrined in the PDP’s constitution.

Online Editor by — October 11, 2024 in News 0
Mohammed Emerges As PDP New Acting National Chairman

       Mohammed Shosanya
A faction of the  Peoples Democratic Party (PDP),has replaced  Amb. Umar Damagum with Alhaji Yayari Ahmed Mohammed as the Acting National Chairman.
The party has been battling with leadership crisis since Damagum came on board as the party Acting National Chairman.
The crisis gained weight on Friday when faction aligned with Damagum suspended Ologunagba and the party National Legal Adviser Kamaldeen Adeyemi Ajibade and in a swift development, faction aligned with Ologunagba suspended Damagum and the National Secretary, Samuel Anyanwu.
The party’s spokesman,Debo Ologunagba,in a statement on Friday announced the appointment of Mohammed as the Acting National Chairman of PDP.
The statement reads: “Following the suspension of His Excellency, Amb. Illiya Damagum as the Acting National Chairman of our great Party, the Peoples Democratic Party (PDP), the National Working Committee (NWC) has approved the appointment of Alhaji Yayari Ahmed Mohammed as the Acting National Chairman.
“The appointment which takes immediate effect is pursuant to the provisions of the Constitution of the PDP (as amended in 2017).
“The NWC calls on all organs, leaders, critical stakeholder and members of our great Party to remain focused at this critical time especially as the NWC commences arrangements towards the holding of the Party’s National Executive Committee (NEC) meeting already scheduled for Thursday, 24th October, 2024.”
Online Editor by — October 11, 2024 in Politics 0
Disloyalty:PDP NWC Faction Suspends National Chairman,Secretary

 

 

A faction of the National Working Committee of the Peoples Democratic Party, has suspended the acting National Chairman, Umar Damagum, and National Secretary, Samuel Anyanwu,for alleged disloyalty to the party.

 

 

A faction of the NWC had earlier aligned with Damagum announced the suspension of the National Legal Adviser, Kamaldeen Ajibade, and the National Publicity Secretary, Debo Ologunagba, for alleged disloyalty to the party.

 

 

 

But Ologunagba,in a statement on Friday, also announced the suspension of Damagum and Anyanwu.

 

 

 

The statement said:“The National Working Committee (NWC) of the PDP has extensively considered the series of complaints raised against the Acting National Chairman, Amb. Illiya Damagum and National Secretary, Sen. Samuel Anyanwu particularly with regard to the letter addressed by them to the Court of Appeal in Appeal No:CA/PH/307/2024 against the party’s position in the case involving the 27 former members of the Rivers State House of Assembly who vacated their seats upon decamping from the PDP to the All Progressives Congress (APC).

 

 

 

“The NWC condemned this anti-party activity of the Acting National Chairman and the National Secretary which is in gross violation of the provisions of the PDP Constitution (as amended in 2017) and their Oath of Office.

 

 

 

“Consequently, the NWC, pursuant to Sections 57, 58 and 59 of the PDP Constitution, has suspended Amb. Illiya Damagum and Sen. Samuel Anyanwu as Acting National Chairman and National Secretary of the Party respectively and referred them to the National Disciplinary Committee for further action.

 

 

 

“In the meantime, the two officials are suspended from all meetings, activities and programs of the NWC pending the conclusion of an investigation by the National Disciplinary Committee.”

 

 

 

Online Editor by — October 11, 2024 in Politics 0
Increased Investment In Science,Technology Panacea To Nigeria’s Economic Growth-Attah

   Mohammed Shosanya
Mohammed Bougei Attah,the Executive Director of NGO Network, has said that science, technology and innovation are the key elements to transform the economy from dependency to independence.
He said this during the opening ceremony at the two zones of the Presidential Executive Order 5 grass root campaign initiative which held in Lagos and Kano .
Attah,who facilitated the event in collaboration with Ayolex Investment Limited informed the participants that the Presidential Executive Order 5 is indeed the renewed hope agenda for the government.
The Strategy Implementation Task Office of the  Presidential Executive Order 5 took the advocacy to the grassroots across the nation, as part of the Federal Government’s effort to reinvigorate the Nigeria’s economy and move from Consumption to Production economy. 
It was hosted at several zones across the country,and targeted civil society organizations,CSOs and other stakeholders in the country.
The National Coordinator of the Order 5, Engr. Dr. Ibiam Oguejiofo,who presented the lead paper on the Policy Roadmap, Implementation and Complaint procedure,briefed the participants about the efforts of his office to bring about new ideas, technology and innovation that are targeted at reviving the Nigeria economy.
The seminar,he said,is part of the ongoing sensitization process to get the buy-in and investment of the grassroots using the CSOs as the channel.
Tagged Presidential Executive Order 5 (SITOPEO-5), Mr. Agoro Olayiwola, a director in the agency delivered the paper on STI Policy Roadmap and Implementation.
 He emphasized the import of the Order and the need to understand the content and intention of the crafter of the law.
He implored every citizens to be interested in the policy and take advantage of the key elements of the program.
Dr. Kabiru Hamisu Kura, the Executive Direction of Community Development Initiative, CDI,  Kano, Otunba Dele Ajayi-Smith, the President African Citizen Development Foundation, ACDF, Barr. Ayo Adebusoye of Procurement Observation and Advocacy Initiative, PRADIN and several other CSOs gave goodwill messages and expressed full support to the program.
Online Editor by — October 11, 2024 in News 0
Prof.Gambari To Deliver Realnews 12th Anniversary Lecture

 

 

Mohammed Shosanya

 

 

The management of Realnews Magazine and Publications Limited, publishers of Realnews Magazine Online,has announced that Prof. Ibrahim Agboola Gambari, former Chief of Staff to President Muhammadu Buhari, and former Nigeria’s Permanent Representative to the United Nations, will deliver the Realnews 12th Anniversary Lecture.

 

 

 

The lecture on “Africa in World Shifting Geopolitics,Matters Arising on Democracy,Technology, Artificial Intelligence, Natural Resources”,will be held at the Sheraton Hotel, Lagos, on Tuesday, November 19, 2024.

 

 

 

 

Ambassador Gambari’s acceptance to deliver the lecture was communicated to Realnews in an email dated April 27, 2024 that he sent, stating:“I am delighted to re-confirm my acceptance in principle of the invitation to deliver the lecture.”

 

 

 

Gambari,a Nigerian academic and diplomat, served as chief of staff to the President of Nigeria from 2020 to 2023. Before this, Gambari was the longest-serving permanent representative of Nigeria to the United Nations from 1990 to 1999, under five Heads of State and Presidents, and minister of external affairs from 1984 to 1985.

 

 

 

 

At the UN, Gambari was the President of UNICEF in 1999; and became Under-Secretary-General and the first Special Adviser on Africa to  Secretary-General Kofi Annan from 1999 to 2005. He was the Under-Secretary-General of the United Nations for Political Affairs from 2005 to 2007 under Secretary-Generals Kofi Annan and Ban Ki-moon. 

 

 

His last appointment in the UN was from January 2010 to July 2012, when he was appointed by Ban Ki-moon and the Chairperson of the African Union Commission as the Joint African Union-United Nations Special Representative for Darfur.

 

 

 

Born on 24 November, 1944, in Ilorin, Kwara State, Gambari attended King’s College, Lagos, and subsequently went to the London School of Economics where he bagged a B. Sc. (Economics) degree (1968) specialising in International Relations. 

 

 

 

Later he got his M.A. (1970) and Ph.D. (1974) degrees from Columbia University, New York, United States in Political Science and International Relations.

 

 

 

He taught at the City University of New York before working at the University of Albany and subsequently at Ahmadu Bello University, in Zaria, Kaduna State. From 1986 to 1989, he was a Visiting Professor at three universities in Washington, D.C.: Johns Hopkins School of Advanced International Studies, Georgetown University, and Howard University.

 

 

 

He has also been a research fellow at the Brookings Institution in Washington D.C. and a resident scholar at the Bellagio Study and Conference Center, the Rockefeller Foundation-run center in Italy. 

 

 

 

He has authored many books and published articles in reputable journals in foreign policy and international relations, including the ‘Theory and Reality in Foreign Policy: Nigeria after Second Republic’.

 

 

 

The diplomat also served as the Minister for External Affairs between 1984 and 1985 under General Muhammadu Buhari’s military regime, after he was the director general of The Nigerian Institute of International Affairs (NIIA).  

 

 

The lecture will be chaired by Ms. Beatrice Eyong, UN Women’s Country Representative in Nigeria,who will also moderate the panel session,Maureen Chigbo,the Magazine’s Publisher/Editor,said in a statement on Thursday. 

 

 

 

Realnews,she said,is a general interest magazine, is an online publication that thrives on investigative journalism. 

 

 

 

She added:”We have expertise in reporting the oil and gas sector with its attendant environmental challenges. We aim to unearth exclusive stories about real people and the challenges they face in their day-to-day activities. We do this bearing in mind that government can only act to influence the lives of people positively if they are aware of their true situation.

 

 

 

“Hence,our objective is to use our investigative skills to ferret out information in the sectors we focus on and produce an unbiased report that will influence the government and decision-makers to take actions that will make society better”.

 

 

 

 

Realnews is populated by seasoned journalists who believe strongly in the tenets and ethics of the profession.

 

 

 

 

She quoted in the statement that the  online publication believes that journalism as the fourth Estate of the Realm can contribute its quota towards building a fair and just society where fundamental human rights are respected and citizens have the freedom to pursue their interests anywhere in the world without hindrance.

 

 

 

 

Its editors have a combined experience of several decades in active journalism practice and are highly dedicated to serving humanity. Hence its motto: “For God and Humanity.”

 

 

 

 

She said:”Realnews Anniversary Lecture Series was established to commemorate the best minds in our society and to tap from them to enrich the discourse in our national development”.

 

 

 

 

According to her,the 11th Anniversary Lecture in 2023 on The Threats of Illicit Funds Flow to the African Economy was delivered by Dr. Edwin W. Harris Jr., Director-General, ECOWAS Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).

 

 

 

The 10th Anniversary lecture in 2022 on “Drug Abuse among Youths in Africa: Implication for Nigerian Economy and 2023 Elections” was delivered by Brig General Buba Marwa, Chairman, and Chief Executive Officer of the National Drug Law Enforcement Agency, NDLEA; she said,while the  9th Anniversary Lecture of Realnews in 2021 was delivered by Engr. Simbi Kesiye Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board on “Nigeria in the Unfolding Integration of the African Market: The Oil and Gas Perspective”.

 

 

 

She disclosed in the statement that the 2020 Eighth Anniversary Lecture of Realnews was delivered by Boss Mustapha, Secretary to the Government of the Federation and Chairman of the Presidential Taskforce on COVID-19 on Managing COVID-19 Pandemic in Africa: The Nigeria Experience.

 

 

 

Former President John Dramani Mahama of Ghana gave the 2019 Lecture on Beyond Politics: An Economic Narrative for West Africa while Prof. Mahmood Yakubu spoke on Political Transitions and Africa’s Economic Development: Preparations for Nigeria’s 2019 General Elections at the 2018 Lecture,she said. 

 

 

 

The 2017 Fifth Anniversary Lecture on African Leadership in a Turbulent Era was delivered by Dr. Oby Ezekwesili, former minister of Education and former World Bank Vice President. 

 

 

 

She added:”The 2016 Fourth Anniversary Lecture on Security and National Development in Plural Democratic Society was delivered by Dr. Mohamed Ibn Chambas, former United Nations Secretary General’s Special Representative to West Africa and Sahel; the 2015 Realnews Third Anniversary Lecture was delivered by Professor Chukwuma Charles Soludo, former Governor of the Central Bank of Nigeria (CBN) on November 19, 2015, under the theme: It’s The Nigerian Economy, Stupid?”

 

 

 

The Second Realnews Anniversary Lecture on Nigerian Democracy: Getting it Right in 2014 was delivered by Professor Maurice Iwu, former Chairman of the Independent National Electoral Commission (INEC).

 

 

 

 

 

Online Editor by — October 11, 2024 in News 0
Access Holdings Steps Up Sickle Cell Awareness 

  Mohammed Shosanya

Employees of Access Holdings Plc,have donated 159 pints of blood as part of an initiative to commemorate Sickle Cell Awareness Month.

The donation drive,which saw over 200 employees participate, was executed in partnership with the Lagos State Blood Transfusion Service and the Boat Foundation/Life Bank.

This contribution will directly support sickle cell champions, who often require urgent blood transfusions due to life-threatening complications from the disease,a statement said.

Amaechi Okobi, Chief Communications Officer at Access Holdings PLC, spoke on the significance of the initiative, stating, “Every pint of blood donated represents hope and survival for someone living with sickle cells. We are incredibly proud of our staff who volunteered and our partners who made this possible. Access Holdings is committed to championing causes that change lives and create lasting impact.”

Besides,Access Bank, the flagship subsidiary of Access Holdings, hosted a webinar, featuring a distinguished panel of speakers, including Prof. Ebele Uche, Professor of Haematology at the Lagos State University College of Medicine; Dr. Bodunrin Osikomaiya, Executive Secretary of the Lagos State Blood Transfusion Service; Dr. Sola Adebekun, Executive Secretary of the Temitayo Awosika Help Foundation, and Ms. Judith Ojonugwa Mathew, a sickle cell champion.

The webinar focused on raising awareness about the challenges faced by individuals living with sickle cell and emphasised the importance of regular blood donations in managing the disorder.

The panellists shared insights on healthcare gaps, the need for increased blood supply, and the impact of public-private partnerships in supporting sickle cell patients. 

The event also included personal stories from sickle cell champions, highlighting their daily struggles and the importance of timely interventions like blood transfusions.

Access Holdings’ involvement in this campaign underscores its dedication to advancing healthcare initiatives that benefit vulnerable communities. 

Online Editor by — October 10, 2024 in Health 0
Why Tinubu Should Be Blamed For Fuel Price Hike-TUC

          Mohammed Shosanya
The Trade Union Congress of Nigeria,TUC,has insisted that the presidency is responsible for persistent hikes in the price of fuel in the country.
Its President,Comrade Festus Osifo,accused the presidency of being too much in a haste to exit subsidy without understudying the dynamics in the Nigerian economy.
At a press conference in Abuja on Thursday, suggested that the only panacea to address price violatility in the energy sector was to create a special forex pool, where Dangote refinery can easily access to ensure the availability of the product to Nigerians.
He hinged the prevailing crisis in the sector and the economic hardships in the country on the removal of subsidy on petrol and the devaluation of the naira which has made it one of the weakest currency in the world.
He said though fuel subsidy has been eliminated as declared by President Bola Tinubu  after his swearing-in on May 29, 2023,the high exchange rate brought it back.
According to him,three things which are key requirements for energy security in the country are accessibility, availability and affordability
He said: “So for the very first one, accessibility, as Dangote refinery is today. We want government through the regulator of the industry, NMDPRA to give licenses to all marketers to source for product from Dangote refinery, if he has the volume to give to us in Nigeria today, the 35 million liters minimum per day that we consume so that let all marketers be able to access this product, bring this product to their respective stations that cut across the nook and cranny of Nigeria. That is number one regarding accessibility,
“Then the second one, that touches on availability. First,we need to know what is the production capacity of Dangote refinery today. We understand that the refinery capacity is 650,000 barrels per day. We understand that our full production that could give us maybe something in excess of 50 million liters.
“So even if today, Dangote refinery is producing 35 million liters, do we have the capacity to be able to evacuate 35 million liters per day from that refinery? So that is the question we call on the regulator to provide us with that answer. We must know. Do we have the quantity in the country that will be able to resolve the issues of availability?
“We want government and through the regulator to be able to speed up all the necessary support and approvals to Dangote refinery, to be able to get to that level where we could have excess of 40 million liters per day.
“It is key, because if for example, the production today, from Dangote refinery,  let’s assume is 50 million liters, it is not sufficient. So why efforts are being made to ramp up production from Dangote refinery, what we are demanding is that we should look for every other means as we are ramping up production, the difference, we should source for that difference and bring it in for a while, until Dangote is able to get to that level where the production will be sufficient to go across the nook and crannies of Nigeria. So for us, that is key, because that will sufficiently address the issues that borders on availability.
“Then,the last one is the issue bothering on affordability, what we have demanded before and it is still the same thing that we are demanding today. If government today makes a special intervention in that sector by giving FX  to Dangote refinery at 1200 Naira to a $1 PMS price today is going to crash much more below 700 Naira per liter of PMS.
“So the demand is that government should create a special foreign exchange scheme for that purpose. There is no government in the world that doesn’t intervene in its critical sector. And the critical sector in this case is the energy sector.
“We shouldn’t leave it to the vibration and the gyrations that we are having regarding our naira. So when that special intervention is done, the PMs price will even go below. It is going to go below where it was moved from. It was moved from about 800 Naira, plus about when that intervention is done, it’s going to go about 700 naira.
“That is our demand to government three things. One, affordability. So that we must be able to buy this product. We want the price of the product to go even below where it was before, not just reverse, even where it was before, but it will go below, if we attend clearly to the issues that are bothering on foreign exchange.
“Some of you may ask why foreign again.Government said they are selling crude to Dangote refinery with our local currency now, but crude is an international product, so it’s actually priced in USD, but all you now do is that you have to convert the value from the USD to local currency.
“If government today makes a special intervention in that sector by giving Fx to Dangote Refinery at 1,200 Naira to a dollar, PMS price is going to crash much more below 700 Naira per litre of PMS.
“So the demand is that government should create a special Fx scheme for that purpose. There is no government in the world that doesn’t intervene in its critical sector, and the critical sector in this case is the energy sector.
“Government can intervene in that sector by what we have opined earlier, that will even help Dangote Refinery to even employ more Nigerians and make its operations much more efficient and that will crash the PMS price to where it was as of June last year”.

 

Online Editor by — October 10, 2024 in Oil&Gas 0
NNPC Reaffirms Commitment To Economic Growth In Niger Delta

      Mohammed Shosanya

The Nigerian National Petroleum Company Limited,has reiterated its dedication to fostering lasting peace and economic growth in the Niger Delta by working closely with the region’s host communities.

Its Group CEO,Mallam Mele Kyari, emphasized this during a dialogue session with Niger Delta communities, organized in collaboration with the Office of the Senior Special Assistant to the President on Community Engagement (South-South), Hon. Gift Johnbull, at the Igurubia Square Ultra-Modern Town Hall in Yenagoa, Bayelsa State, on Thursday.

The session was part of the citizen assembly engagements, held as a precursor to the upcoming Conference of Parties (COP) 29, scheduled to take place in Baku, Azerbaijan, in November. Representing Kyari at the event was Mr. Sani Kabo, Head of Business Services at NNPC Upstream Investment Management Services (NUIMS),the company’s spokesman,Femi Soneye said in a statement.

 He noted that this dialogue represents a significant step towards strengthening unity and advancing development in the region through the Third Phase Amnesty Program.

He expressed NNPC Ltd’s commitment to ongoing discussions with traditional leaders,ex-agitators, and youth representatives, aimed at addressing local concerns and rebuilding trust across the nine states in the Niger Delta.

He said the introduction of the Petroleum Industry Act (PIA), has provided for the allocation of 3% of NNPC Ltd’s operational expenditures (OPEX) for community development. 

He explained that the initiative will ensure that projects align with the priorities of the communities, while also promoting skills acquisition, community empowerment, and sustainable livelihood programs for their long-term benefit.

He added:“Our goal is clear.We are committed to fostering lasting peace, creating economic opportunities, and transforming the Niger Delta into a model of unity and progress. NNPC Ltd stands with the Niger Delta in building a prosperous future founded on mutual respect and collaboration”.

Online Editor by — October 10, 2024 in Oil&Gas 0
DisCos’ Meter Installations Drop In Q2-NERC

 

 

Mohammed Shosanya

 

 

The Nigerian Electricity Regulatory Commission (NERC) has said that 49,188 meters were installed in the second quarter of 2024.

 

 

 

Disclosing this in its second quarter 2024 report on Thursday,the commission said the installations represent a drop of 60.86 per cent compared to the 125,664 meters installed in the first quarter.

 

 

 

During the period in view,35,985 meters representing 73.16 per cent of the total installations, were installed under the Meter Asset Providers (MAP) framework and that 264 meters representing 0.54 per cent were installed under the National Mass Metering Programme (NMMP) framework,NERC.

 

 

 

It added:“The Vendor Financed framework accounted for 12,843 meter representing 26.11 per cent of the installations, while 96 meter installations were recorded under the DisCo Financed framework representing 0.20 per cent of the installations, ‘’ it said.

 

 

 

According to the commission,it expected the Electricity Distribution Companies (DisCos), to utilise a combination of the five meter financing frameworks that have been provided in the 2021 Meter Asset Provider and National Mass Metering Programme.

Online Editor by — October 10, 2024 in Power 0