All Posts in "Month: December 2024"

Alleged Tax Evasion:FG Drags Niger Dock,7 Directors To Court

 

Mohammed Shosanya

 

 

The Federal Government has filed a charge before the Federal High Court, Lagos, against Nigerdock Nigeria Limited and seven of it’s directors over alleged tax evasion.

 

 

 

 

 

 

Maher Jarmakan;Adewale Akanbi; Michael Akhigbe; Daniel Ayscough; Patrick Van Uden; Adebola Adesoye and Rutger Ten Thij are the seven directors listed in a six count-charge charge marked FHC/L/910c/2024,alongside Nigerdock Nigeria Limited

 

 

 

 

 

In the charge dated November 26,2024 and filed on November 29, 2024,the Federal Government alleged that Nigerdock Nigeria Limited and it’s directors committed the alleged infractions between year 2015 to 2015.

 

 

 

 

 

Counsel to the Federal Government, Moses Idaho,also alleged that Nigerdock Nigeria Limited and its directors, between 2015 2018 years of Assessment, failed to pay Companies Income Tax, Tertiary Education Tax and Withholding tax amounting to N68,695,302.53 million, which are accrued tax liability, accrued interest and penalty.

 

 

 

 

 

The defendants’ offences are contrary to sections 40, 26 and 27 of the Federal Inland Revenue Service Establishment Act 2007 (as amended). And Section 82 of the Companies Income Tax Act (as amended) and punishable under 8. 55 of the Companies Income Tax Act (as amended)

 

 

 

 

 

The offences are also contrary to Section 11 of the Tertiary Education Trust Fund (Establishment) Act 2011 for non-compliance with extant provisions of the law.

 

 

 

 

 

The charges read: “That vou Nigerdock Nigeria Limited, Maher Jarmakani. Adewale Akanbi, Michael Akhigbe, Daniel Ayscough, Patrick Van Uden, Adebola Adesoye, Rutger Ten Thij on or about the 25th of November 2024 and within the jurisdiction of this Honorable Court, whilst carning out taxable services in the course of doing business, within the 2015 2018 years of Assessment, was obligated to pay tax liability and did fail to pay the accrued tax liability, in the sum of N21,273,700.00 with accrued interest in the sum of N45, 294, 232.53 and penalties in the sum of N2,127,370.00 for Companies Income Tax, Tertiary Education Tax and Withholding tax and thereby committed an offence contrary to and punishable under S.40 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).

 

 

 

 

 

“That you Nigerdock Nigeria Limited, Maher Jarmakani. Adewale Akanbi, Michael Akhigbe, Daniel Ayscough, Patrick Van Uden, Adebola Adesoye, Rutger Ten Thijon or about the 25th at November 2024 and, within the jurisdiction of this Honorable Court, whilst carrying out taxable services in the course of doing business, failed to file correct and complete Companies income tax returns in the prescribed form and manner for 2015 to 2018 years of assessment in the sum of N21, 273, 700 with accrued interest in the sum of N45,294,232.53 and penalties in the sum of N2,127,370.00 tor the purpose of paying the relevant tax administration by the Service and in so doing, Committed an offence, Contrary to and punishable under 8. 55 of the Companies Income Tax Act (as amended).

 

 

 

 

 

 

“That you Nigerdock Nigeria Limited, Maher Jarmakani, Adewale Akanbi, Michael Akhigbe, Daniel Ayscough, Patrick Van Uden, Adebola Adesoye, Rutger Ten Thijs on or about the 25th of November 20274 and within the jurisdiction of thas Honorable Court, whilst carrying out taxable services in the course of doing business, did unlawfully and willfully evade the assessment, payment, and remittance of tax due and payable to the Federal Government of Nigeria for the 2015 to 2018 years of assessment in the sum of N21,273,700.00 with accrued interest in the sum of N45,294,232.53 and in addition penalties in the sum of N2,127,370.00 and in so doing Committed an offence, contrary to and punishable under S. 53 of the Company Income Tax Act (as amended).

 

 

 

 

 

 

“That vou Nigerdock Nigeria Limited. Maher Jarmakani. Adewale Akanbi Michael Akhigbe, Daniel Ayscough, Patrick Van Uden, Adebola Adesoye, Rutger Ten Thij on or about the 25th of November 2023 between and within the jurisdiction of this Honorable Court, whilst engaged in the normal course of business of Nigerdock Nigeria Limited, neglected and refused to deduct taxes due to the Federal Government of Nigeria with respect to the 2015 and the 2018 years of Assessment and in so doing committed an offence contran to and punishable under Section 26 & 27 of Federal Inland Revenue Service Establishment Act 2007 (as amended).

 

 

 

 

“That you Nigerdock Nigeria Limited, Maher Jarmakani, Adewale Akanbi Michael Akhigbe, Daniel Ayscough, Patrick Van Uden, Adebola Adesoye, Rutger Ten Thij on or about the 27 of November 2024 and within the jurisdiction of this Honorable Court, whilst engaged in the normal course of business of Nigerdock Nigeria Limited, Neglected and refused to deduct Tertiary Education taxes for 2015 to 2018 yeats Of assessment due to the Federal Government and ino so dome committed an offence contrary to and punishable under Section 11 of the Tertiary Education Trust Fund (Establishment) Act 2011 for non-compliance with extant provisions of the law”.

 

Online Editor by — December 5, 2024 in Law/Human Rights 0
Katsina:Police Arrest Access Bank Staff,ATM Fraudster For Stealing N20.7m

 

Mohammed Shosanya

 

Access Bank Head of ATM,Daura branch, Katsina state,Adewumi Bolaji Gabriel,has been arrested by the Police for conspiring with a friend to steal N18 million belonging to the bank’s customers.

 

 

 

 

ASP Abubakar Sadiq Aliyu, the state Police Public Relations Officer disclosed this while parading bank staff and other suspects at the Command’s headquarters in Katsina on Wednesday.

 

 

 

 

He said the suspect was arrested following the receipt of a complaint from one Okojie Hubert Erayomon, an Assistant Head of Operation at the Daura Branch of the bank,in a suspected case of fraud.

 

 

 

 

According to him, the suspect criminally conspired with a friend, one David Mesioye, a staff member of the Bank’s Kafur Branch, now at large, to steal the sum of eighteen million one hundred and sixty-four thousand naira from their customers bank account.

 

 

“The suspect, who is the Head of ATM operations, was responsible for managing the bank’s ATM operations at the branch, conspired with his friend using their expertise of the bank’s operations to carry out the theft, which was discovered during an audit conducted”.

 

 

“In the course of the investigation, the suspect confessed to the commission of the offense as the following exhibits which include, the sum of ₦10,180,000.00k from his different bank accounts, a physical cash of ₦366,900.00k and other valuables were recovered”.

 

 

 

 

He maintained that the suspect will be charged in court upon completion of the investigation.

 

 

 

Besides,on November 25th, 2024, at about 1130 hrs, the command succeeded in arresting one Bishir Abdullahi, age 37, of Helele quarters, Sokoto state, a suspected notorious fraudster who specializes in swapping ATM cards of unsuspecting members of the public at ATM points.

 

 

 

According to the police image maker,the suspect was arrested by Inspector Aliyu Muhammad, a police officer on duty at the First Bank branch of Tudun Katsira quarters in the Katsina metropolis.

 

 

 

 

He was arrested after the police officer on duty became suspicious of his activities around the ATM machine. Upon instant search, fourteen suspected stolen ATM cards of different banks were found in his possession.

 

 

 

 

The state PPRO said preliminary investigation revealed that the suspect had been using the stolen ATM cards to withdraw huge sums of money from his victims’ accounts.

 

 

 

Aliyu said the suspect had swapped the ATM cards of six unsuspecting individuals at different banks withdrawing a total sum of over N2.7 million from the victims bank accounts.

 

 

 

He maintained that the suspect will be charged in court upon completion of the investigation.

 

 

 

Online Editor by — December 5, 2024 in Crime/Metro 0
Senate Passes Investments,Securities Bill

       Mohammed Shosanya

 

 

The Senate has passed the Investments and Securities Bill 2024 in order to boost the operations of the Securities and Exchange Commission and the Nigerian capital market.

 

 

 

The Investments and Securities Bill, meant to repeal the Securities and Exchange Commission (SEC) Act, was passed on the floor of the Senate Wednesday.

 

 

 

 

During the consideration of the report on the Bill from the committee on Capital Market, Senate Chief Whip, Tahir Monguno stated that it will protect investors and eliminate fraudulent dealings in the capital market.

 

 

 

 

Leading the debate,Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso said the bill sought to repeal the Investments and Securities Act, of 2007 and enact the Investments and Securities Act, 2024 stating that the ISB is capable of transforming the capital market, encourage the influx of foreign investors as well as boost investors’ confidence, among others.

 

 

 

 

Izunaso said: “The Bill seeks to repeal the existing Investments and Securities Act 2007, and to establish a new market infrastructure and wide-ranging system of regulation of investments and securities businesses in Nigeria especially in the areas of derivatives, systematic risk management, financial market infrastructure and Ponzi scheme and platforms.

 

 

 

 

He said, “It was meant to establish the Securities and Exchange Commission as the apex regulatory authority for the Nigerian Capital Market. It will be a regulation of the Market to ensure capital formation, the protection of investors, maintenance of fair, efficient and transparent markets,and reduction of systemic risk.”

 

 

 

 

Izunaso further said the main objective of the bill was to enact legislation that aligned with global dynamics as they relate to the regulation of the capital market through the provision of an innovative regulatory framework.

 

 

 

 

He added:”It will protect the integrity of the security market against all forms of market abuse and insider dealing.It will prevent unauthorised, illegal,unlawful, fraudulent and unfair trade practices,relating to securities and investments.”

 

 

 

He said that the overriding purpose of the proposed legislation was to strengthen the capacity of the Commission for the effective performance of its statutory mandate as well as reposition that vital sector of the economy for national economic transformation.

 

 

 

 

Announcing the passage of the Bill, President of the Senate, Godswill Akpabio said a lot of people would be happy to infuse funds into the capital market when they know a lot of the risk has been minimised.

 

 

He declared the bill passed.

 

 

Speaking recently, Director General of the SEC Dr. Emomotimi Agama said the Bill is pushing for harsher penalties on Ponzi scheme operators through the proposed Investments and Securities Bill (ISB) 2024, which mandates a minimum fine of N20 million or up to 10 years in prison, or both.

 

 

 

Agama explained that the bill explicitly prohibits Ponzi and pyramid schemes, fortifying protections for investors against illegal fund managers adding that it aims to shield Nigerian investors from fraudulent schemes and enhance the capital market’s global competitiveness.

 

 

 

A notable amendment in the Bill would allow the Investor Protection Fund (IPF), established by securities exchanges, to cover investor losses linked to the deregistration of brokerage firms, extending beyond the current coverage of bankruptcy or negligence cases.

 

 

 

Agama also noted the need for updates to the existing ISB 2007 to reduce ambiguities and align Nigeria’s capital market regulations with international standards.

 

 

 

“This bill’s passage would be pivotal in setting Nigeria on the path to a world-class capital market,” he stated, underscoring the role of a robust capital market in economic diversification.

 

 

 

 

 

Recently,government and private entities are increasingly emphasizing the importance of digital transformation and technological advancements to drive efficiency in the oil and gas sector even as NNPCL recently announced plans to increase national oil production to 2mbpd by the end of 2024.

 

 

 

 

 

 

 

 

However,these advancements are largely hampered by slow infrastructure development, high cost of implementation, environmental challenges and in some cases, lack of local and or regional collaboration.

 

 

 

 

 

 

A further look at some of the challenges reveal that though there has been growth in the number of Datacentres in Nigeria, there is a gap in the availability of advanced datacentres to host HPC systems.

 

 

 

 

 

 

Online Editor by — December 5, 2024 in News 0
High Performance Computing Infrastructure-Technology Enabler To Unlock Nigeria’s Oil And Gas Potential 

 

The oil and gas industry has witnessed significant growth over the decades with many countries around the world possessing substantial and proven oil reserves. Nigeria is the sixteenth largest oil producer worldwide with several major and indigenous oil corporations operating in the industry with an average production between 1.2 to1.5mbpd in 2024 (S&P Global).

 

 

 

The first discovery oil field discovery was in 1956 by Shell-BP in the Niger Delta, and more discoveries have since been made, the most recent being the shallow offshore discovery in Western Niger Delta by Chevron Nigeria and NNPC Limited in October 2024 (NNPCL).

 

 

 

Historically,technology has consistently played a pivotal role in advancing the
exploration and production of oil and gas.

 

 

In the early days of hydrocarbon exploration,the main technique Geologists used to find deposits was by manually searching for surface evidence of subsurface formations. The industry has since developed with more advanced Geophysical techniques often used for discovering oil and gas deposits under the earth’s surface.

 

 

 

 

One of such techniques is subsurface seismic imaging and interpretation which involves transmitting acoustic waves deep into the earth’s crust,then recording and analysing the signals that reflect back. The interaction of the seismicsignals with a reservoir of oil and gas helps to accurately identify the reservoir’s locationin the earth’s crust.

 

 

 

 

After the reservoir is identified, the reservoir modelling and simulation process is applied to estimate the size of the reservoir to establish if it has hydrocarbon deposits in commercial quantities and to enable informed decisionmaking regarding field development.

 

 

 

 

With continuous advancements in the discovery and exploration of more oil fields,technology remains a key enabler of the geophysical techniques used in hydrocarbon extraction and production, driving efficiency, and contributing to reduction in the unit cost of production.

 

 

 

 

Whilst reservoir simulations in itself are not new, the development of modern digital computers have enabled engineers to perform advanced computing required for the analysis of complex mathematical models in seismic processing.

 

 

 

 

Engineers now aggregate computing resources using supercomputers and compute clusters to solve advanced computation problems and simulate complex scenarios.This practice is known as high performance computing (HPC).

 

 

 

 

Current reservoir management practices in the oil and gas industry are often hampered by the slow speed of reservoir simulation and therefore the widespread adoption of HPC into workflows has the potential to significantly improve reservoir simulations and seismic interpretations.

 

 

 

 

Several international oil companies have in the past announced major breakthroughs using proprietary software combined with high performance compute to improve exploration and production output across their global operations.

 

 

 

 

Some of the benefits HPC offers the Energy industry include:

 

 

▪ Acceleration of the processing and simulation of vast seismic datasets, enabling faster identification of potential reserves. The more detailed the seismic data,as well as its processing and interpretation, the more likely the project is to succeed.

 

 

 

▪ Complex reservoir models which are often quite difficult to understand due to complex mathematical expressions, can be run more accurately to predict fluid
flow, optimize production, and estimate reserves.

 

 

▪ Multiple scenario modelling and ability to run advanced algorithms for imaging
subsurface structures to improve drilling accuracy and reduce risks thereby reducing the likelihood of dry wells. A single offshore well can cost over 100 million dollars and therefore a major investment that must avoid costly errors.

 

▪ Real time analysis monitoring and analysis of field operations which provide actionable insights to improve production performance.

 

 

There is no doubt that HPC,with its capacity to perform complex simulations at increasingly remarkable speeds is at the forefront of technological innovation, however its large-scale implementation in Nigeria faces several challenges.

 

 

 

In 2007, South Africa established The Centre for High Performance Computing (CHPC), and in 2016 unveiled the fastest computer on the continent at the time.

 

 

 

 

 

Morocco followed suit in 202,launching Africa’s most powerful supercomputer centre, with the aim of supporting Moroccan and African academic and industry research and helping to create the next generation of computational scientists and digital entrepreneurs (hpc wire).

 

 

 

 

A few other countries in Africa have followed suit but with low uptake of the technology. Currently in Nigeria, only a few oil companies utilize HPC on a small to medium scale which could be primarily due to the maturity of the technology market in the region.

 

 

 

In recent times,government and private entities are increasingly emphasizing the importance of digital transformation and technological advancements to drive efficiency in the oil and gas sector even as NNPCL recently announced plans to increase national oil production to 2mbpd by the end of 2024.

 

 

 

 

 

 

However,these advancements are largely hampered by slow infrastructure development, high cost of implementation, environmental challenges and in some cases, lack of local and or regional collaboration.

 

 

 

 

 

A further look at some of the challenges reveal that though there has been growth in the number of Datacentres in Nigeria, there is a gap in the availability of advanced datacentres to host HPC systems.

 

 

 

 

Traditionally,HPC infrastructure has been hosted onpremises in local data centers due to the significant demand it places on compute resources coupled with the substantial energy and cooling requirements necessary to maintain optimal performance which drive up the cost of building the necessary infrastructure.

 

 

 

 

However,the global HPC market is rapidly evolving, with cloud based emerging as a competitive alternative.Additionally,there is little or no policy framework to support the research and development of HPC coupled with inadequate government  investment which may be due to low awareness on the part of stakeholders, including policy makers and industries on the potential benefits.

 

 

 

 

 

Another challenge lies in the fragmentation of efforts across local and regional stakeholders leading to duplication of efforts, low scale implementations and missed opportunities for collaboration.

 

 

 

 

While major players like Amazon Web Services (AWS) and Microsoft Azure can offer scalable and reliable hosting services, their presence is challenged by high network latency due to a lack of local datacentres and regulations that prioritize data sovereignty.

 

 

 

 

On the other hand,the local cloud hosting landscape is developing but faces limitations in meeting the resource-intensive needs of highperformance computing.

 

 

 

 

The impact of some of these challenges can be addressed by scaling up investments to develop robust datacentres that utilize more renewable energy sources and innovative cooling solutions to reduce energy demands and improve sustainability of the HPC infrastructure. This can be achieved through policy development and funding mechanisms that support HPC development and attract local and international funding.

 

 

 

 

 

 

 

In addition,strengthening public-private sector partnerships through  collaboration between government, industry and academia which will enable a combination of resources and expertise to overcome infrastructure limitations. We see this evidenced by South Africa and Morocco who successful launched product offerings through such collaborations and partnerships.

 

 

 

 

 

Collaboration between local and international stakeholders can facilitate a hybrid approach that combines both onpremise hosting in local datacentres and cloud hosting to minimize latency and offer scalability, allowing for more efficient resource management.

 

 

 

 

Furthermore,the skilled workforce shortage must be addressed through concerted efforts to encourage and fund STEM education at all levels, equipping future professional with the necessary skills to drive technological advancements.

 

 

 

 

 

HPC drives innovation and operational excellence in the energy industry and leveraging its capabilities necessitates urgent improvements in the scale and flexibility of our highperformance computing infrastructure.By optimizing the use of advanced technologies such HPC,the oil and gas industry in Nigeria can unlock the full potential of its energy sector and remain competitive long-term in a rapidly evolving energy landscape.

 

 

 

Aderonke Hunponu-Wusu is a seasoned Informational Technology professional,specializing in deployment of cutting edge technologies infrastructure in the oil and gas industry

 

 

Online Editor by — December 5, 2024 in Opinion 0
We’ll Develop Niger Delta-NDDC

      Mohammed Shosanya

 

The Managing Director of the Niger Delta Development Commission, NDDC, Dr Samuel Ogbuku, has reaffirmed the commitment of the Commission to executing impactful projects and fast-tracking development for the benefit of all the ethnic nationalities in the Niger Delta region.

 

 

 

 

He gave the assurance when he hosted a delegation led by the President General of Ogbakor Ikwerre Cultural Organisation Worldwide, Eze (Dr) Godspower Onuekwa, at the NDDC headquarters in Port Harcourt.

 

 

 

 

SelediThompson-Wakama,Director,Corporate Affairs,conveyed Ogbuku’s assurance in a statement on Thursday.

 

 

 

 

He stated that the Commission was open to all ethnic nationalities in the Niger Delta region, noting that its mandate was to serve the people and ensure sustainable development of all communities in the region.

 

 

 

 

Ogbuku said the NDDC was executing life-changing projects in the Niger Delta region to give meaning to President Bola Ahmed Tinubu’s administration’s Renewed Hope Agenda.

 

 

 

 

He explained that the Commission was giving opportunities to Niger Delta youths through an innovative programme called Holistic Opportunity Projects of Engagement, Project HOPE.

 

 

 

 

He noted that Project HOPE had helped the Commission to develop a comprehensive digital repository comprising important information about the youths of the Niger Delta region, including their qualifications, skills, interests, needs, and current employment status.

 

 

 

 

The NDDC boss charged the Ogbakor Ikwerre delegation to always promote peace, as development could only occur in a peaceful and safe environment.“I urge you to support the policies of President Tinubu’s administration. Let us ensure peace in our communities,” he advised.

 

 

 

Ogbuku assured the Ikwerre group that the NDDC was committed to accelerating the development of the Niger Delta region, stating: “We are going to undertake more legacy and regional projects. Currently, we have embarked on an elaborate project to light up the Niger Delta with solar-powered street lights as part of the measures to reduce criminality in our communities.”

 

 

 

 

 

 

Earlier,the President General of Ogbakor Ikwerre Cultural Organisation Worldwide, Eze Godspower Onuekwa, appealed to the NDDC to extend more development projects to Ikwerre land to enhance the people’s living conditions.

 

 

 

 

He applauded the NDDC boss, noting:“We have observed you as the Managing Director of NDDC with inspiration that your achievements and milestones are well entrenched all over the Niger Delta States. For that reason, we say Congratulations on a well-deserved appointment.”

 

 

 

 

 

He regretted that the goodwill and the intentions of NDDC were being thwarted by unscrupulous contractors who abandoned the contracts awarded to them. He advised the NDDC to incorporate the Ogbakor Ikwerre Cultural Organization in monitoring projects for effectiveness and efficiency.

 

 

 

Online Editor by — December 5, 2024 in Niger Delta 0
Kyari:PH Refinery In Order,Critics Free To Visit Facility For Confirmation

              Mohammed Shosanya
The Nigerian National Petroleum Company Limited (NNPC Ltd) has insisted that the Old Port Harcourt Refinery is up and running, with loading operations in full shape.
The Group Chief Executive Officer, Mr Mele Kyari, gave the confirmation at the commissioning of the NUPENG Towers in Lagos on Wednesday,a statement said
In a goodwill message at the event, Kyari invited human rights activist and lawyer, Mr Femi Falana, and all those in doubt, to join the NNPC Ltd on a tour of the refineries in Port Harcourt, Warri, and Kaduna to verify their status.
Olufemi O. Soneye,Chief Corporate Communications Officer,NNPC Ltd,quoted Kyari to have also shed light on the controversy around products blending, stating that blending was not a crime as it is an integral part of the refining process.
“If you don’t blend, you will bring out off-spec products which will destroy your vehicles. Every refinery blends because what is on specification in the United States of America will be off-spec in Nigeria and elsewhere. Blending is necessary to bring products to the specification of different countries or regions,” he explained.
Kyari also congratulated NUPENG on the successful completion of the NUPENG Towers and urged the union to continue to prioritize dialogue and co-operation in its relationship with NNPC Ltd and the Federal Government.
He disclosed that the President’s interventions in the oil and gas industry through  Executive Orders were yielding positive results, with more investments coming in and prospects of more jobs in the industry.
Online Editor by — December 4, 2024 in Oil&Gas 0
Police Bust Child Trafficking Syndicate In Rivers 

 

Mohammed Shosanya

 

 

The Rivers State Police Command has uncovered a child trafficking syndicate, arresting the prime, a female identified as Esther Anthony and rescuing four children from their hideout.

 

 

 

 

 

 

The rescued children were lodged at Alaeze Guest House in Rumukwachi, Port Harcourt, from where they would have been handed over to a nurse named Loveth, who runs a maternity home.

 

 

 

 

According to a statement signed by the Police Public Relations Officer for Rivers Police Command, SP Grace Iringe-Koko, the Guest House Manager out of suspicion refused  to let the prime suspect check out with the children, demanding that the parents be produced.

 

 

 

 

Iringe-Koko stated that the suspect in her frantic efftort to escape with the children, rushed to o the Police claiming that the guest house manager had threatened her with a gun.

 

 

 

 

SP Iringe-Koko said:”Esther Anthony left and returned with police officers, falsely claiming that the Guest House Manager had abducted the children and threatened her with a gun.

 

 

 

 

“However, the Managing Director contacted the Choba Area Command, and officers arrived to arrest Anthony.Preliminary investigations revealed that Anthony had conspired with someone named Favour to traffick the children from the Swali Community in Bayelsa State.”

 

 

 

 

Iringe-Koko stated that another suspect, Purity Silas, was also arrested in connection with the case.

 

 

 

She added the prime suspect was however identified by another family as the same person who had stolen three of their children in the Rumuodara area of Port Harcourt and sold them to Loveth.

 

 

 

 

“All suspects have confessed to the crime,” SP Iringe-Koko said. “The case has been transferred to State CID, Port-Harcourt, and suspects are currently in police custody. They will be charged to court upon completion of the investigation.”

 

 

 

 

The state police spokesperson noted that the case highlights the ongoing efforts of the Rivers State Police Command to combat child trafficking and ensure justice for victims and their families, emphasising that the children have been reunited with their family members.

 

 

 

“The Rivers State Police Command remains committed to protecting the vulnerable and bringing perpetrators of child trafficking to justice.

 

 

 

 

“The Command is urging members of the public to report any suspicious activities related to child trafficking to the nearest police station or through the Command’s hotline.”

 

 

Online Editor by — December 4, 2024 in Crime/Metro 0
Shell Awarded $1.98bn Contracts To Local Companies In 2023

        Mohammed Shosanya

 

 

 

Shell Companies in Nigeria awarded contracts worth $1.98 billion to indigenous businesses in 2023 in continuing effort to develop Nigerian content in the oil and gas industry.

 

 

 

 

 

 

The contracts, awarded by the Shell Petroleum Development Company of Nigeria Limited (SPDC), Shell Nigeria Exploration and Production Company Limited (SNEPCo), and Shell Nigeria Gas (SNG) present a three percent increase from the 2022 performance of $1.92 billion,Business Opportunity Manager for SNEPCo’s Bonga South-West Aparo Project Olaposi Fadahunsi,disclosed these in Yenagoa,Balyesa State.

 

 

 

 

 

 

He spoke at the 13th edition of the Practical Nigerian Content forum with the theme “Deepening the Next Frontier for Nigerian Content Implementation”.

 

 

 

 

 

Fadahunsi,who represented SNEPCo’s Managing Director, Ron Adams, told participants at the opening of the forum that several benefitting companies had taken advantage of the patronage to expand their operations and improve their expertise and financial strength.

 

 

 

 

“Shell companies execute a large proportion of their activities through contracts with third parties, and Nigeria-registered companies have been key beneficiaries of this policy aimed at powering Nigeria’s progress,” Fadahunsi said.

 

 

 

 

He commended the Nigeria Content Development and Monitoring Board (NCDMB) for ensuring compliance with the Nigerian Content Act.

 

 

 

 

In addition to contract awards,Shell companies have implemented projects under the Human Capital Development Fund, including the Niger Delta University learning centre and digital library project and the Federal University of Technology Information Technology Hub. Both projects were inaugurated this year, in collaboration with SPDC Joint Venture partners – Nigeria National Petroleum Company Limited (NNPC), TotalEnergies and Nigeria Agip Oil Company Limited (NAOC).

 

 

 

 

Other projects include the University of Lagos Geosciences Centre of Excellence, Nigeria Diving School and funding of ongoing research at the University of Ibadan to develop a synthetic-based drilling fluid.

 

 

 

 

Shell Companies in Nigeria also continue to develop indigenous manpower through scholarship programmes with over 3,772 undergraduate and 109 Niger Delta post graduate scholarships since 2016.

 

 

 

 

 

Fadahunsi added: “As we speak, beneficiaries of the 13th edition of the Niger Delta Post Graduate Scholarship awards are pursuing their studies in the United Kingdom. The employability rate of the scheme is high with over 98% of the graduates who won the awards securing employment in the oil and gas industry, academia and Information Technology, among other sectors, within one year of completing their studies. Nigerian content will continue to be an important part of Shell operations.”

 

 

Online Editor by — December 4, 2024 in Oil&Gas 0
Nigerian Content Level Grows To 56%

 

  Mohammed Shosanya

 

 

 

The Nigerian Content performance level in the oil and gas industry has hit 56 percent in 2024, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe announced.

 

 

 

 

He disclosed this at the 13th Practical Nigerian Content (PNC) Conference and Exhibition holding at the NCDMB Conference Centre, Yenagoa, Bayelsa State.

 

 

 

 

 

The Nigerian Content level stood at 54 percent as at December 2022 and 2023, increasing significantly from 26 percent in 2016 before the introduction of the Nigerian Content 10-year strategic roadmap.

 

 

 

 

 

The current increase marks a significant milestone in the Board’s march toward 70 percent Nigerian Content by 2027 as set out in its 10-Year Strategic Road Map (2017-2027),he said.

 

 

 

 

 

He also revealed that 312 Nigerian Content Plans have thus far been approved by the Board and that 402 Nigerian Content Compliance Certificates (NCCCs) were issued.

 

 

 

 

 

Besides,the new Project Certification and Authorisation Directorate (PCAD) guidelines have reduced the Board’s touchpoints from nine to five, and the contracting cycle cut to six months, he confirmed.

 

 

 

 

 

 

At the forum,Engr. Ogbe and a representative of the Bank of Industry (BoI)also signed an agreement on the Revised Nigerian Content Community Contractors Financing Scheme.

 

 

 

 

 

The Fund addresses a critical challenge faced by local contractors in accessing funds for contracts awarded by oil and gas companies.

 

 

 

 

 

Under the new product paper for the fund, N15 billion has been earmarked for the fund and “the single obligor limit has been increased from N20 million to N100 million,” Ogbe hinted.

 

 

 

 

 

 

On the Nigerian Content Academy recently established by the Board for training to prepare Nigerians through a range of courses that cover every aspect of the oil and gas industry, from upstream exploration to downstream processing, he said new career paths and economic opportunities are being opened for local communities.

 

 

 

 

 

 

The Academy was unveiled by the Ministers as part of activities marking the Forum.

 

 

 

 

He gave insight into the Back-to-the-Creeks Initiative which focuses on taking Nigerian Content benefits to local communities, especially developing basic educational facilities in communities and equipping youths in host communities with the skills needed to meet industry demands, and thus directly supporting the local content drive.

 

 

 

 

Speaking,the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, commended NCDMB for systematically aligning its local content policy initiatives with the Federal Government’s gas development agenda.

 

 

 

 

 

He listed the NCDMB’s support for compressed natural gas (CNG) projects, modular gas processing plants, manufacturing plants for liquefied petroleum gas (LPG) cylinders, LPG depots, LPG terminals, LPG storage and bottling plants, gas gathering facilities, smart gas and detector alarm services, as critically important areas where the Board’s strategic intervention has made huge gains for the country.

 

 

 

 

 

He disclosed that “in the last 12 months, two critical gas projects were completed,” namely, SEPLAT Assa North and Shell Petroleum Development Company (SPDC) Ohaji South, with a combined capacity of 600 million standard cubic feet/day. Also, the 300 MMscfd Kwale Gas Gathering (KGG) Hub and Injection Facility, jointly executed by Xenergy Limited and the NCDMB, were commissioned within the same period.

 

 

 

 

Reiterating that “gas will be the mainstay of Nigeria’s energy shift” as the world transits to renewables, he stated that Government is “giving local businesses a chance to engage in gas distribution, processing, and power generation.”

 

 

 

 

With specific reference to the PNC Forum, he said the theme “Defining the Next Frontier for Nigerian Content Implementation” is “a call to action and a reaffirmation of Nigeria’s commitment to leveraging our local capabilities to drive energy security, economic growth, and environment sustainability.”

 

 

 

 

He charged the organisers of the Forum, namely, NCDMB and DMG Events Limited, to ensure that the event functions as “a spur for practical ideas that move our country closer to a promising and sustainable energy future.”

 

 

 

 

Also speaking at the event, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, commended the NCDMB for organising the Forum and for significant milestones recorded thus far since its establishment in 2010.

 

 

 

He disclosed that wherever he has been across Africa for oil and gas-related events, other countries want to come to Nigeria to learn from its local content success story.

 

 

 

 

On divestments by international oil and gas companies (IOCs) in the country, he said there is no reason to be alarmed as indigenous operating companies have adequately filled the gaps and thus significantly increased the country’s stake in the industry.

 

 

 

 

He said the affected IOCs have not left the country but simply moved their investments and operations from onshore to deep offshore.

 

 

 

 

He urged industry players to be strategic in their thinking, noting that “quality, standards and capacity developed have to be sustained” if the country is to be able to sustain the gains made so far.

 

 

 

 

Regarding strategies to deal with the decline in funding of oil and gas projects in Africa, in the wake of the global de-emphasis of fossil fuels, the Secretary General of the African Petroleum Producers Organisation (APPO),Dr. Umar Farouk Ibrahim, said the Africa Energy Bank (AEB) would be taking off in the second quarter of 2025, with the signing and ratification of the Establishment Agreement by the required number of countries. Its headquarters is to be located in Abuja.

 

 

 

 

 

In his remarks, the Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, commended the NCDMB and industry stakeholders for putting together the event, and for the collaboration that has yielded remarkable developments in the petroleum industry.

 

 

 

 

He,however,reminded the industry captains that Bayelsa State accounts for about 60 per cent of the gas feedstock for the Nigeria Liquefied Natural Gas (NLNG) Project, Bonny, which has now progressed to Train 7, and thus deserves to have a train built within its territory.

Online Editor by — December 4, 2024 in Oil&Gas 0
South Africa Eyes Nigeria’s Lithium To Drive Green Energy Transition

      Mohammed Shosanya

 

 

President Ramaphosa has expressed South Africa’s interest in collaborating with Nigeria to harness critical minerals, particularly lithium, to drive the green energy transition and support the development of electric vehicles (EV) batteries.

 

 

 

 

He disclosed this on Tuesday in Cape Town, South Africa, at the Nigeria -South Africa Business Roundtable,Bayo Onanuga Special Adviser to the President (Information & Strategy)said in a statement.

 

 

 

 

He proposed leveraging Nigeria’s vast lithium reserves as a cornerstone for industrialisation efforts in the EV sector.

 

 

 

 

He implored the private sector and development finance institutions to collaborate in building infrastructure and scaling up manufacturing capabilities in this sector.

 

 

 

 

“There is also much opportunity for cooperation on pharmaceuticals. Our two countries are strategically positioned to benefit from the rapid growth of clean energy manufacturing industries.

 

 

 

 

“South Africa has developed a Just Transition Framework and an Investment Plan that anticipates massive investments in renewable energy and the green economy over the next few years.

 

 

 

“As part of the broader global transition to a low-carbon economy, we must leverage the abundant natural resources that exist in our countries to promote green industrialisation.

 

 

 

 

“We should leverage each other’s capabilities in minerals processing. We must work together to ensure critical minerals are beneficiated at source. We call on businesses to support and involve themselves in these initiatives,” President Ramaphosa added.

 

 

 

 

He also disclosed that South Africa will  support the bid of Nigeria,to become a member of the G20 club of the world’s major economies.

 

 

 

 

 

He gave the promise at the official launch of South Africa’s presidency of the G20 in Cape Town, few minutes before he received President Tinubu at Tuynhuys to co-chair the 11th Bi-National Commission between Nigeria and South Africa.

 

 

 

 

 

President Ramaphosa reiterated this stance during his tete-a-tete with President Tinubu and the expanded meeting with officials of both countries at the BNC.

 

 

 

 

South Africa and the African Union are the continent’s only representatives in the G20.

 

 

 

 

Ramaphosa said other key African countries should also be admitted to the club “so that we can raise the voice from Africa, the neglected continent for the longest time.”

 

 

 

 

 

He noted that South Africa had been the lone voice for Africa in the G20 before the admission of the African Union last year after his country had lobbied for it to become a member.

 

 

 

“We have a voice, we have a presence, and we will be the biggest growth story in years to come.

 

 

 

 

“Our population is going to grow by leaps and bounds, and therefore, as a continent, we are going to be a big noise, and we want that big noise to be recognised in the form of countries that will be part of the G20 right now,” he said at the official launch of the G20 presidency.

 

 

Online Editor by — December 4, 2024 in Energy 0