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Energy

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, on Thursday assured that the ongoing 614 kilometres Ajaokuta-Kaduna-Kano (AKK) gas pipeline project would be delivered on schedule, create prosperity through massive job opportunities and guarantee peace for the country.

 

A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, disclosed that the GMD stated at Gas Sector Stakeholders’ Forum which held in Kano, Kano State, with theme: “Optimizing the Economic Development Capacity of Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project”.

 

In a paper titled: “The AKK as an Economic Development Game-Changer – NNPC’s Vision, Contributions, & Plan Forward,” Mallam Kyari, stated that the AKK gas project would help revamp about 232 industries creating massive employment opportunities and prosperity for the people.

 

He said it would also serve as gas supply link to other African countries and Europe upon completion.

 

“This project has been on the drawing board for 30 years and the dream was to have gas delivered to Europe across the Trans-Sahara route. What we are seeing today would deliver at least 2billion standard cubic feet of gas to the domestic market at the first instance with the potential to increase it. What this means is that it will debottleneck the gas supply network in the entire country,” Mallam Kyari informed.

 

He said the AKK gas project would also lead to the development of three Independent Power Plants (IPP) in Abuja, Kaduna and Kano, adding that the IPPs would boost electricity supply and promote the growth of small and medium scale enterprises in the Nigeria.

 

“I want to state clearly that this gathering would not have been possible if we don’t have a line of sight to the completion of the AKK gas pipeline project. This is possible because of the clear direction that Mr. President has shown on the need to deepen domestic gas consumption with a view to creating prosperity out of the enormous gas resources we have as a nation. He has given us all the necessary support and incentives to deliver on this project,” he stated.

 

Mallam Kyari said the AKK gas project would also boost the Agricultural, Industrial, Manufacturing and Power Sectors for the overall growth of the nation’s economy.

 

He averred that the AKK gas pipeline project was in sync with the aspiration of the Federal Government to reduce the nation’s carbon footprint in line with the global quest to arrest global warming and climate change and in furtherance of the Decade of Gas programme.

 

According to him, gas is a key driver of prosperity all over the world and it cannot be different in Nigeria, stressing that the extensive industrial layout in the Otta area of Ogun and Lagos States is anchored on the gas supply by the NNPC and its partners which is creating jobs and other opportunities for people.

 

In his keynote address, the Minister of State for Petroleum Resources, Chief Timipre Sylva, said the Gas Sector Stakeholders Forum would ensure collaboration amongst stakeholders geared towards kick-starting the required activities that would guarantee full usage of the gas to be delivered through the AKK pipeline when completed.

 

“Today’s event reinforces our commitment to realizing the inherent potentials of gas usage as a national catalyst for achieving economic diversification from crude oil and as a transition fuel from fossil of today to the renewable energy of tomorrow,” Chief Sylva submitted.  

 

The event had in attendance major stakeholders in the oil and gas value chain and the Governor of Kano, Alhaji Abdullahi Ganduje, while the Governors of Nasarawa, Niger, Kaduna, the Hon Minister of Finance and Alhaji Aliko Dangote joined virtually. The Governor of Kogi State sent a representative.

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Oriental Energy Resources Limited, a leading indigenous oil exploration and production company in Nigeria has appointed Mustafa Indimi as its new Managing Director.

 

According to a statement, Mustafa is taking over from Mr. Ignatius Ifelayo who served the company meritoriously for seven years.

 

Prior to the new appointment, Mustafa was the Executive Director (Technical) and a member of the company’s Board of Directors.

 

“He brings with him an in-depth knowledge of the business and he is well-positioned to drive the company forward,” the statement said.

 

“A master’s degree holder in petroleum production engineering from Robert Gordon University Aberdeen, Mustafa has an impressive track record of leading teams to deliver outstanding performance and results.

 

On his appointment, Mustafa said: “It is an exceptional privilege to be appointed as Managing Director at a time that provides great opportunity to take the company to new heights. I am looking forward to working with the Board, Management and Staff to strengthen and grow the company by building on the solid foundation to generate significant value for all stakeholders.

 

“Underpinning everything is my commitment to the company’s vision to set the standards that all other E&P companies in the Nigerian oil and gas industry will be compared against.’’

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Energy, Government

The Federal Government of Nigeria on Thursday inaugurated the governing board of the Nigeria Extractive Industries Transparency Initiative (NEITI) to enhance the smooth running of its administration.

 

Mr Boss Mustapha, Secretary to the Government of the Federation (SGF), who performed the inauguration in Abuja, congratulated the members, saying their appointment as NEITI board members was based on individual merits and track records.

 

“Your appointment and inauguration, which is taking place here today is another practical demonstration of President Muhammadu Buhari’s commitment to transparency and accountability in the management of our economic resources.

 

 “And especially, given the mandate and objectives of the Nigeria’s NEITI, ” Mustapha said.

 

Mustapha said that the present administration was passionate about the NEITI process because it served two key agenda of the administration.

 

He said that the extractive industry was very strategic to Nigeria’s economy, hence central to the administration’s economic agenda.

 

According to Mustapha, the transparency and accountability in the management of nation’s resources is equally central to the anti-corruption agenda of Nigeria.

 

He said it was therefore, irrevocably committed to the implementation of NEITI in the oil, gas, and mining industries.

 

The SGF, therefore, tasked NEITI board members to ensure that the agency continued to preserve the virtues for the benefit of the present and for future generations of Nigeria.

 

 “In order to achieve this, I must remind you that your assignment is non-partisan because NEITT itself is non-political and has maintained dignified neutrality all through almost two decades of existence.

 

“It is also necessary for me to stress that your appointment is a part-time one. You are therefore advised to conduct yourselves in accordance with this requirement, ” he said.

 

Responding, Mr Olusegun Adekunle, a retired Permanent Secretary, office of the SGF, thanked President Muhammadu Buhari for considering them worthy for the appointment.

 

Adekunle assured that the board would not disappoint the president in the course of carrying out its assigned duties.

 

The retired permanent secretary said his appointment alongside other board members was another opportunity to serve Nigeria in another capacity.

 

“Let me also congratulate my colleagues on the board for this wonderful opportunity to serve our nation in a different capacity.

 

“I must say that the confidence reposed in us is huge but our commitment to this assignment is also strong; we shall therefore, work as a team with focus and with integrity, ” Adekunle said.

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Economy, Energy

Nigeria’s Minister of Science and Technology, Dr Ogbonnaya Onu has said that local production of solar cells will slash the price of solar panels by 60 per cent.

 

This is contained in a statement by Head, Press and Public Relations of the ministry, Ms Josephine Ademu, on Friday in Abuja.

 

Onu, during a virtual meeting with Mr Francesca Camera, Director-General, International Renewable Energy Agency (IRENA), said that the production would also help transform Nigeria’s economy.

 

According to him, the production of indigenous solar cells will have a positive impact on many industries in the country.

 

He sought the assistance of IRENA on institutional capacity building for research in enhancing green hydrogen energy, adding that Nigeria has immense gas reserves.

 

He advised that renewable energy should be fully exploited as solar energy would enable rural communities to have access to sustainable electricity power.

 

The minister further said that activities of Nigeria as a member nation of the agency would help make renewable energy more available.

 

“We want to make our solar cells in Nigeria; more foreign investors should be encouraged to come into Nigeria, which has a huge market of 200 million people,” he said.

 

Onu noted that the country was committed to ensuring the protection and preservation of the planet for future generations.

 

He assured that Nigeria would participate and fulfill its obligations as a member state of IRENA.

 

Earlier, Camera commended the country’s commitment to the agency adding that IRENA would find ways to boost Foreign Direct Investment (FDI) into Nigeria.

 

He said that the agency would collaborate further with Nigeria in developing renewable energy and ways

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Energy

The Bureau of Public Enterprises (BPE) on Monday said that there is no plan to privatise the Transmission Company of Nigeria (TCN).

 

Mr Yunana Malo, Director, Energy Department, said at a media conference in Abuja that, “Government is not thinking of privatising, it is thinking of ways and means that the private capital can be brought into the transmission component without giving out the ownership of Transmission Company.”

 

He said transmission was the weak link in the power reform, as generation which was privatised had since attracted a lot of investments, making it more efficient.

 

He said the generation capacity had improved, adding that 60 per cent of the distribution segment had also been partially privatised and was beginning to pick up through the reforms of the Federal Government.

 

“The seemingly weak link is the transmission component, it is still 100 per cent owned by the FG.

 

“The idea is to think outside the box and bring in solutions that will make the transmission component service the value chain, and make it more efficient.”

 

He explained that the Bureau would concession the transmission segment, “so that we can have somebody building the high tension lines, covering areas that have not been reached or to maintain the existing ones to get maximum value, to move from the radial system we have today into a mesh.

 

“So the idea is not to privatise but to reform and make it efficient, bringing in private sector operational modalities within the transmission company.”

 

On the Federal Government’s 40 per cent stake in the Distribution Companies (DISCOS), Malo said the shares were still intact and protected by BPE.

 

Mr Alex Okoh, BPE Director-General, said over the years, N1 trillion had been generated from 234 concluded transactions of previously government-owned enterprises from various sectors of the economy.

 

He said the Bureau expected to generate N493.40 billion net revenue from various transactions as approved by the National Council on Privatisation (NCP).

 

He said over 30 projects had been categorised under five segments with 22 of them carried over from 2020.

 

He, however, said the plan to privatise the nation’s refineries had been dropped as the Federal Government was considering other approaches to revitalise and improve on them.

 

The director-general said BPE was very close to resolving the issues surrounding the Ajaokuta Steel Company, especially the litigation and that once that was done a decision would be taken on how to proceed with it.

 

Okoh said the rationale for privatisation was to generate revenue for government, reduce operational inefficiencies, revitalise and optimise public sector entities and increase investment level as a catalyst for growth.

 

 “The country’s fiscal space is getting increasingly constrained, as a result government cannot provide the resources required to meet all of its obligations and bridge the huge infrastructure gap.

 

 “The most feasible option is to attract private sector investments. BPE’s current initiative in its 2021 work plan and additional roles in the Public Private Partnership (PPP) space is, therefore, poised to impact on the economy positively.

 

“This is in the areas of infrastructure development, improved health care service delivery, power generation and supply, employment creation, food security and human capital development,” he said.

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