All Posts in "Day: November 13, 2024"

NNPC Ltd Strengthens Operations,Makes Fresh Leadership Appointments

 

          Mohammed Shosanya

 

 

The Nigerian National Petroleum Company Ltd,Wednesday announced key leadership appointments in a bold move at strengthening its operational efficiency and boost its competitive edge in the global oil and gas industry,

 

 

 

 

The company explained that the  move is in line with the provisions of the Petroleum Industry Act and the NNPC Ltd’s commitment to strengthening corporate governance and operational efficiency within national oil company.

 

 

 

Besides,it’s in line with the NNPC Ltd management’s commitment to ensure that the company continued to succeed in driving Nigeria’s energy sector.

 

 

 

The NNPC Ltd announced the appointment of Mr. Adedapo Segun as its new Chief Financial Officer (CFO),it said in a statement on Wednesday.

 

 

 

Segun was,until his appointment, the company’s Executive Vice President, Downstream.He is to take over the position of CFO from Mr Umar Ajiya.

 

 

 

 

The NNPC Ltd also announced two other key leadership appointments.They are the appointment of Mr. Isiyaku Abdullahi as the Executive Vice President (EVP), Downstream and the appointment of Mr. Udobong Ntia as the Executive Vice President (EVP), Upstream.

 

 

These appointments reflect NNPC’s commitment to building a strong and cohesive leadership team to drive operational excellence and strategic growth,the statement signed by Femi Soneye,the company’s image-maker said.

 

 

 

The NNPC Ltd. board and management, also extended their heartfelt appreciation to Mr. Umar Ajiya and Oritsemeyiwa Eyesan for their service to the company.

 

 

NNPC Ltd said it remains committed to operational excellence, financial sustainability, and global competitiveness as it continues to play a vital role in advancing Nigeria’s energy industry.

 

 

Mr. Adedapo Segun (Chief Financial Officer)

 

 

He joined NNPC Limited as Treasurer in April 2016 and enthusiastically drove a series of optimization initiatives culminating in ISO 9001:2015 certification of Group Treasury Quality Management Systems, the very first in the Finance & Accounts function.

 

 

 

 

In October 2022, following the transition to NNPC Limited, Segun became the pioneer Chief Finance and Investor Relations Officer where he was charged with the responsibility of raising medium and long-term financing for NNPC Limited and its wholly owned subsidiaries, as well as overseeing Investor Relations activities, including the Company’s journey towards its Initial Public Offer.

 

 

 

 

He led the negotiation and closing of financing initiatives to raise billions of US Dollars and has laid a solid foundation for the emergence of impending NNPC Limited as a Public Limited Liability Company.

 

 

 

 

 

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), having passed the qualifying examination of the prestigious body in 1990. Segun has an impressive record of successfully leveraging high decision quality in driving optimization and efficiency initiatives in both the private and public sectors.

 

 

 

 

With over 30 years of accounting and management experience, 25 of which were in a top ten fortune 500 company. Dapo’s oil and gas industry exposure covers both upstream and downstream, in Nigeria as well as in the United States of America.

 

 

 

 

Beyond the finance and accounting function, he has had experience broadening assignments in Facilities Engineering and Security Services.

 

 

Mr. Isiyaku Abdullahi (Executive Vice President, Downstream)

 

 

 

Isiyaku Abdullahi is a seasoned executive with over 30 years of experience in the oil and gas industry, known for his commitment to transparency, accountability, and performance excellence.

 

 

 

He has held various leadership positions, including Group Treasurer of NNPC Ltd, Managing Director of PPMC, and Group General Manager of Accounts/Financial Controller at the NNPC HQ and General Manager, Finance at the NNPC Pension Ltd., demonstrating his versatility and dedication to driving growth and prosperity in the industry.

 

 

 

 

As a seasoned leader, he has leveraged his technical, commercial, social, and political insights to drive growth and prosperity in the Nigerian Oil and Gas Industry and the Nigerian economy.

 

 

 

He has achieved numerous exceptional accomplishments, including turning PPMC’s fortunes from N3bn to N19bn profit, publishing NNPC’s first audited financial statements in 44 years, and facilitating cost savings of millions of dollars for the federation.

 

 

 

 

He is poised to lead NNPC Ltd to international prominence, increasing production capacity, rehabilitating refineries, and building new ones to augment energy security.

 

 

 

 

He has expertise in financial analysis for oil and gas,financial planning and management in the oil and gas industry as well as building financial models and forecasts for energy operations.

 

 

 

His ability to analyze data and solve problems related to financial performance is unique and he has been developing and implementing strategic financial plans and projects for the NNPC.

 

 

Udobong Ntia (Executive Vice President Upstream)

 

 

Until his appointment as the Executive Vice President, Upstream at the MNPC Ltd, Ntia was a past Executive Director at ExxonMobil

 

 

 

He is an experienced Project Executive with a demonstrated history of working in the oil & energy industry.

 

 

 

 

He is also skilled in petroleum and gas, and he is a strong business development professional with an MBA focused in Business Administration and Management, from the University of Houston.

 

 

 

He was also a one-time General Manager, External Relations & Business Development at ExxonMobil, where he was responsible for Venture Relations, Public & Government Affairs, and Commercial/Gas & Power Marketing.

 

 

 

 

Between 2009 and 2010, he was Area Operations Manager responsible for overall asset management and safe operations of four large offshore production facilities with related pipeline gathering network to onshore facility.

 

 

 

 

He was also accountable for efficient depletion of 2.5GBO Proved Reserves; prudent management of $200m per year in operating costs, and safe production into sales of 150,000 barrers per day crude oil with gas injection/gaslifting facilities in a challenging fiscal and regulatory environment.

 

 

Online Editor by — November 13, 2024 in Oil&Gas 0
Disconnection:IBEDC Insists UCH Must Settle N400m Outstanding Debt

     Mohammed Shosanya

 

 

Ibadan Electricity Distribution Company (IBEDC) has implored the University of Ibadan Teaching Hospital,UCH to settle its  outstanding debt to enable it to enjoy uninterrupted power supply.

 

 

 

 

The power company had disconnected the teaching hospital on account of its N400million unpaid electricity debt.

 

 

 

 

 

The power company said in a statement on Wednesday that it’s expected to meet 100% of its market obligations, and the outstanding debt from major customers like UCH directly contributes to the liquidity crisis within Nigeria’s power sector.

 

 

 

Expressing sympathy for the hospital’s situation but confirmed that the disconnection was due to UCH’s significant outstanding debt,the company said it was compelled to take this course of action as it faced  increasing pressure to meet our financial obligations to the market.

 

 

 

 

It reiterated its commitment to working with UCH and remains open to discussions on a flexible payment arrangement that could be mutually agreed upon by both parties.

 

 

 

It added:”IBEDC continues to advocate for timely payments from all customers, stressing that a stable and reliable power supply is dependent on the financial health of the sector. The company called on UCH and all other customers to settle their arrears to help resolve the ongoing challenges facing Nigeria’s electricity distribution system”.

 

 

 

Online Editor by — November 13, 2024 in Power 0
NNPC,Dangote Refinery Ink 10-Year Gas Supply Deal 

 

       Mohammed Shosanya

 

 

 

The Nigerian National Petroleum Company (NNPC) Gas Marketing Limited (NGML),has signed a groundbreaking Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals.

 

 

 

 

 

This strategic partnership will supply the Dangote Refinery with 100 million standard cubic feet per day (MMSCF/D) of natural gas for power and production over the next decade, setting the stage for industrial revitalization in Nigeria, a statement said on Wednesday.

 

 

 

 

The agreement, signed at Dangote’s Corporate Headquarters in Lagos by NGML Managing Director Barr. Justin Ezeala and Dangote Group President Aliko Dangote, provides for a secure daily supply of 50 MMSCF/D with an additional 50 MMSCF/D as an interruptible reserve,the statement quoted.

 

 

 

According to the statement,this collaboration will enable the refinery in Ibeju-Lekki, Lagos, to leverage natural gas for power generation and as essential feedstock, boosting its operational efficiency and supporting national energy goals.

 

 

 

 

The statement added that the  initiative is part of President Bola Ahmed Tinubu’s policy to tap into Nigeria’s extensive gas resources to drive industrialization and economic growth.

 

 

 

 

 

The deal marks NGML’s first major agreement without capital expenditure (CAPEX) commitments, a feat considered unprecedented in Nigeria’s gas distribution sector.

 

 

 

 

With this collaboration, NNPC Ltd reinforces its role in fostering local production and enhancing domestic gas usage to support industries and boost the economy.

 

 

 

 

The agreement underscores NGML’s commitment to sustainable energy solutions, paving the way for greater stability, economic growth, and energy security for Nigeria,the statement said.

 

 

 

 

Online Editor by — November 13, 2024 in Oil&Gas 0
PH Helicopter Crash:FG Recovers Wreckage,Flight Recorder

 

Mohammed Shosanya

 

 

The Minister of Aviation and Aerospace Development, Festus Keyamo on Wednesday announced the recovery of the wreakage and flight recorder of the crashed S76C helicopter with registration marks 5N-BQG operated by Eastwind Aviation which occurred on October 24, 2024 in Port-Harcourt, Rivers State.

 

 

 

 

The helicopter with eight persons on board, six passengers and two crew member had departed Por-Harcourt Airport heading to FPSO Nium Antan when it crashed.

 

 

 

 

Keyamo also disclosed that the two crew members and one passenger are still missing while  the government of Cameron has been contacted to join in the continued search since one body was actually recovered from Cameronian water.

 

 

 

 

He said:”On day 1 of the accident, three (3) bodies of some debris suspected to be from the crashed helicopter were spotted floating and were picked up. So far, five (5) bodies identified to be of the deceased passengers were recovered, while one (1) passenger and two (2) crew members are yet to be found.

 

 

 

“At midnight on 31 October 2024, the wreckage of the helicopter was finally located at a depth of 42m,Latitude 04° 13.634’N and Longitude 008 19.442’E. Although scattered in pieces, major parts and components of the helicopter, except for the flight recorder (Black Box), were recovered, including the fuselage, two (2) engines, main gearbox, landing gears, main and tail rotor, tail rotor shaft, etc.

 

 

 

 

“The search and recovery efforts continued until the flight recorder was found on Friday, 8 November 2024. The search and recovery operations took over 14 days.

 

 

 

“On Saturday, 9 November, the wreckage departed the collection site on a ferry. It arrived at Onne Port on the evening of Sunday, 10 November. After completing the formalities at the port, the wreckage was loaded on the low bed truck on Monday, 11 November and is on its way to Abuja.

 

 

 

“Our specialists picked the flight recorder and brought it Abuja last night (Tuesday 12 November 2024). The process intricate process of readout of the recordings will begin immediately.

 

 

 

“Our objective is to conduct a thorough investigation using available techniques to find a safety issue and recommend a safety change to prevent a tragedy like this from happening again.

 

 

 

“We will examine the roles of man, machine, and the environment that might have directly or indirectly contributed to this accident. In the process, we will review the certified maintenance documents of the crashed helicopter and the crew’s training and medical records.

 

 

 

 

“We have received full cooperation from
the operator, NCAA, NAMA, and NiMet. The helicopter engines and related components will be thoroughly examined at our wreckage hangar in
Abuja after being subjected to a teardown exercise.”

 

 

 

 

 

He said the United States of America, as the State of Design and Manufacture of the helicopter, has appointed an NTSB investigator as the Accredited Representative, assisted by a Technical Adviser nominated by Sikorsky Aircraff while, France, as the State of Design and Manufacture of the engines, has appointed an Accredited Representative, assisted by a Technical Adviser from SAFRAN, the engine manufacturer to join in the investigation and possible recommendations.

 

 

 

 

He added:”All things being equal, we will publish the Preliminary Report on the NSIB website within 30 days.Usually, it takes up to a year or more to develop the Final Report and possible safety recommendations”.

 

 

 

He said NSIB whose mandate it is to conduct independent investigations of transportation occurrences with the sole objective of accident and serious incident prevention in all modes of transportation by making safety improvement recommendations is instituting a family support programme to assist the bereaved families.

 

 

 

He added:”Additionally, the NSIB’s family assistance department, in collaboration with the NTSB and the NTSB, will be working with the bereaved family members to bring them some comfort at this difficult time”.

 

 

Online Editor by — November 13, 2024 in Aviation 0
Makinde Presents N678bn Budget Proposal,Gives Priority To Infrastructure

     Mohammed Shosanya

 

The governor of Oyo state, Seyi Makinde, has presented a total sum of ₦678.06 billion (N678, 068 767 332.18) to the Oyo state House of Assembly for legislative consideration and approval for 2025 budget.

 

 

 

While capital expenditure takes 51 percent of the total budget, recurrent expenditure stands at 49 percent.

 

 

 

The governor tagged the 2025 budget, “Budget of Economic Stabilization”.

 

 

According to the budget estimate, N343 billion was appropriated for capital expenditure, which represents 50.59 percent of the total budget,while N335 billion naira budgeted for recurrent expenditure represents 49.4 percent of the total budget.

 

 

 

In his presentation on Wednesday,Makinde said N152 billion has been appropriated for the infrastructural development of the state, which he noted took the largest percentage of the budget with 22.4 percent.

 

 

 

Besides,education received N145 billion, which represents 21 percent of the total budget. Health got N59 billion, which represents 9 percent while agriculture  got N18 billion, representing 3 percent of the budget.

 

 

 

He added that the 2025 budget proposal represents a 35 percent increase compared to the 2024.

 

 

 

 

Online Editor by — November 13, 2024 in News 0
Okpebholo Suspends Revenue Collection,Orders Arrest Of Defaulters

          Mohammed Shosanya
Edo State Governor, Monday Okpebholo, has ordered the immediate and indefinite suspension of collection of all revenues in Edo, especially in motor parks and other business outlets, until further notice
He also ordered the State Commissioner of Police to arrest anyone who flouts the order, just as the Governor promised to review the issues surrounding the collections, as well as to decide on the way forward in due cause.
He conveyed this in a statement on Wednesday.
According to the statement, “The collection of revenues in the State has been suspended indefinitely. Anyone seen collecting revenues on behalf of the state government will be arrested.
“The Commissioner of Police is hereby ordered to arrest anyone who flouts the order to collects any kind of revenues on behalf of the state government.
“The Governor will soon  address the issues and concerns raised. He will issue new directives soon. Until then, no one is authorised to collect revenues on behalf of the state government.”

 

Online Editor by — November 13, 2024 in News 0
Trans Atlantic Centre Hosts Funfair 8th Edition,Promises More Value Addition

 

       Mohammed Shosanya

 

 

The Trans Atlantic Centre,a research, recreation and community development Initiative, will host eight edition of the annual ritual on January 1st next year.

 

 

 

Tagged,”Annual Family Funfair and Friends Connect Day”,the event will enliven and expose the tourism potential of Okene, a busy town in Kogi Central Nigeria

 

 

 

The Centre and event bring together annually over 200 sons and daughters of the city, from far and near to connect, rejoice and celebrate the new year in a special way,a statement said on Wednesday.

 

 

 

 

It features merry-making,cultural and modern dances, competitions, and games among others.

 

 

 

The Trans Atlantic Centre,TAC is renowned for its indoor and outdoor activities, ranging from capacity building gazebo, open event garden, children amusement park and many more.

 

 

 

Prior the January 01 funfair,the Centre hosts annually picnics of popular Ebira Gentlemen Club, otherwise known as Old School Picnic,the Ebira Carnival Festival Picnic, Annual De-Friends Family Reunion and Eid Fest among other seasonal and daily events.

 

 

 

 

It said:”From October to January every year, it is all fun as the Centre is packed full of fun, merriment and sharing. The traditional herbal tea, cultural foods, such as Apapa as and special suya are delicacies to behold”.

 

 

 

 

The Chief Executive Officer of the Centre, Mohammed Bougei Attah, MBA promises series of rewards ranging from prizes and gift items for competitions, recognitions and special awards at the eight edition of the event

 

 

 

 

He added:”One of the Initiatives for the Centre include making the environment eco-friendly with improvement on the green grass, animal Colony and the open event space”.

 

 

Online Editor by — November 13, 2024 in Travel & Tourism 0
Gov Okpebholo Sacks Permanent Secretaries,Other Appointees In Edo

     Mohammed Shosanya
Edo State Governor, Monday Okpebholo,has dissolved all boards of government agencies and parastatals in the state.
He also sacked all Permanent Secretaries appointed from outside the State Public/Civil Service and all other political appointees.
The Chief Press Secretary to the Governor, Fred Itua, disclosed this  in a statement made available to newsmen in Benin on Wednesday .
Okpebholo said the dissolution of the affected officers was with immediate effect.
He advised the affected persons to hand over all government properties in their possession to the most senior public officer in their respective ministries, departments and agencies.
The statement reads in part: “It is hereby announced for the information of the general public that the Governor of Edo State, His Excellency, Monday Okpebholo, has approved the dissolution of executives of all boards, agencies, and parastatals in Edo State Public Service with immediate effect.
“In addition, all Permanent Secretaries appointed from outside the State Public/Civil Service and all other political appointees are hereby relieved of their appointments.
“Accordingly,all affected appointees are to hand over all government properties in their possession to the most senior public officer in their respective ministries, departments, and agencies,” he said.

 

Online Editor by — November 13, 2024 in News 0