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Amnesty: Nigeria’s Oil Earnings Hit N18bn Daily

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Troops will remain in the Niger Delta to safeguard oil installations, the Joint Military Task Force (JTF) has declared,  days after the end of amnesty.

And Petroleum Minister, Rilwanu Lukman, disclosed at the weekend that Nigeria now produces between 1.6 million and 1.7 million barrels per day (bpd) and is sticking to its quota allocated by the Organisation of Petroleum Exporting Countries (OPEC).

That translates into earning N18 billion a day.

Lukman said oil output reached 1.7 million barrels when the amnesty lasted from August 5 to October 4.

A decision by OPEC on production quotas on December 22 will depend on market conditions, such as demand, he stressed.

“OPEC will only increase output if the market requires it,” Lukman explained in an interview in Abuja.

A spokesman from Chevron confirmed that the company’s Agbami platform offshore produced 250,000 bpd in August, four months ahead of schedule.

The Agbami oil and gas field, which began production in July last year, is a $7 billion project containing an estimated 900 million barrels of oil equivalent of recoverable hydrocarbons, the largest deepwater discovery to date in Nigeria.

Agbami stretches across 45,000 acres and is located some 70 miles (113 kilometres) offshore the Niger Delta.

Situated on Nigerian blocks OML 127 and 128, its water depth is 4,500 feet (1,372 metres).

The crude oil found in Agbami is light and sweet, with a 45-degree API gravity and no contaminants.

Through its major capital projects worldwide, Chevron, the second-largest American oil company, is poised to ramp up production faster than its rivals, according to Dow Jones.

Moreover, it has 40 projects for which it is investing $1 billion each, 15 of them located in Africa and Latin America.

Other operators in Agbami are Petrobras, Nigerian National Petroleum Corporation (NNPC), Famfa Oil, and StatoilHydro ASA.

Lukman’s estimate of current production is 100,000 bpd higher than a range provided by Petroleum Minister of State, Odein Ajumogobia.

Lukman, the more senior oil official, said output flows fluctuate from day to day.

The figures he and Ajumogobia released both exclude condensate production, the addition of which brings Nigeria’s output to more than two million bpd, they said.

Under the amnesty programme, thousands of militants and their commanders renounced violence and surrendered weapons. With relative peace in the Deep South, oil production is likely to increase in the coming months, Ajumogobia enthused.

However, Abuja officials have given differing production figures in recent months.

Lukman had said on August 26 that output had risen to 1.7 million bpd from 1.2 million, following an improvement in security.

Central Bank of Nigeria (CBN) Governor, Lamido Sanusi, who said on August 4 that output had declined to one million bpd, told reporters in Istanbul last week that it has risen back to about two million bpd.

What is known for a fact is that oil production, which averaged 2.5 million bpd in 2005, according to the Petroleum Ministry, has suffered in the last three years from armed attacks on oil workers and installations by militants in the Niger Delta, the country’s oil basin.

The Movement for the Emancipation of the Niger Delta (MEND), the main armed group in the region, has threatened to resume attacks on the oil industry as its current ceasefire ended on October 15,  its Spokesman Jomo Gbomo, reiterated in a statement at the weekend.

The group has rejected the amnesty, saying it fails to address its demands for redistribution of oil wealth to Niger Deltans who are among the poorest in the country.

JTF Commander, Brigadier General Sarkin Bello, noted at the weekend that soldiers have been stationed in the Niger Delta since 2003, but they need to stay longer to protect vulnerable points and oil facilities.

“We take directives from Defence Headquarters and so far we have not received any (counter directive) since the amnesty ended,” he said.

“We are also aware a big achievement has been recorded by the government regarding the restoration of law and order in the Niger Delta. I am sure government, in its wisdom, will direct the JTF on the next line of action.

Chairman, Rivers State Council of Traditional Rulers , Eze Chukwumela Nnam Obi II, Oba of Ogbaland,(right) listens to Ambassador Umejuru, during a stakeholders meeting at Government House, Port Harcourt, recently.

Chairman, Rivers State Council of Traditional Rulers , Eze Chukwumela Nnam Obi II, Oba of Ogbaland,(right) listens to Ambassador Umejuru, during a stakeholders meeting at Government House, Port Harcourt, recently.

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Again, RSG Begins Unveiling, Flag-Off Of Nine Key Projects, ’Morrow

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The Rivers State Government has rolled out the drums to herald another phase of official commissioning of key projects embarked upon by the Governor Nyesom Wike-led administration in the state.
A statement by the state government said that the process is in continuation of the commissioning and flag-off of projects by Governor Nyesom Wike.
It indicated that Rumuola flyover would be commissioned tomorrow, while the GRA flyover would be commissioned on Saturday.
The also stated that the government would commission the Ezimgbu Road on Monday, December 13, 2021; with another commissioning of Tombia Road Extension scheduled for Tuesday, December 14, 2021.
The statement said that the governor would commission the Safe Home, Borikiri, Port Harcourt on Wednesday, December 15; while on Thursday, December 16, 2021, the governor would commission the Odokwu internal roads.
Also, the governor would continue the flag-off of key infrastructure projects with Chokocho-Igbodo Road slated for Monday, December 20, 2021; Oyigbo-Okoloma Road on Wednesday, December 22, 2021; and Magistrates’ Court Complex, Port Harcourt on Thursday, December 23, 2021.

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Wike Justifies N7bn Libel Suit Against THISDAY

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Rivers State Governor, Chief Nyesom Wike, yesterday, appeared before the state High Court in Port Harcourt, to testify as a witness in an N7billion libel suit against THISDAY Newspaper.
Wike said he was in court to seek justice and clear his name as a person from the malicious publication by THISDAY Newspaper, which portrayed him as deceitful, untrustworthy person, who exerts subterranean influences on judicial matters and over court sittings in Port Harcourt.
It would be recalled that Wike had in August, 2020, slammed a N7billion suit being damages for libel written and published in THISDAY’s Tuesday, June 23, 2020 edition captioned, “With Wike, Obaseki Meets His PDP’s Waterloo; Almost.”
The defendants in the suit are THISDAY Newspapers Limited, Leaders and Company Limited, Davidson Iriekpan, Chuks Okocha and Adibe Emenyonu.
Wike, while testifying as witness in suit No. PHC/1505/CS/2020 before the court presided over by Justice A. Enebeli, asserted that the defendants maliciously and falsely portrayed him as an unreliable friend/person.
“When you say somebody cannot be trusted; that cannot be a fair comment. When you say somebody is influencing the Judiciary, that cannot be a fair comment”, the governor said.
In his written statement on oath, Wike had stated that the defendants had accused him of influencing the decision of the court sitting in Port Harcourt that granted an injunction restraining Godwin Obaseki from participating in the primaries of Peoples Democratic Party (PDP) in Edo State in 2020.
He stated that the defendants maliciously accused him of undemocratically exerting influence on the primaries process of PDP in Edo State in aid of his ally, Omoregie Ogbeide-Ihama, who was the beneficiary of the court order restraining Obaseki from participating in the PDP primaries.
The governor, who told the court that he was not even aware of the aforementioned suit by Ogbeide-Ihama against Obaseki, said the publication was reckless, false and without regards for the truth.
According to him, contrary to well-known journalistic tradition and practices, the defendants did not investigate properly to ensure the information they relied on was accurate.
“They did not seek to verify the facts from me or in any manner oblige me with the opportunity to state my own side of the story before proceeding to make the false publication” the governor argued.
Wike stated that the defendants further denigrated him before the entire world as a fake democrat, who engages in meddling in the internal affairs of All Progressives Congress (APC) in order to get at his political foe, Chibuike Amaechi.
The governor explained that he was not a member of the APC and has had no hand in the internal crisis which has bedevilled the party both in Rivers State and all over Nigeria.
“By the letter of Messrs E.C. Ukala and Co., Solicitors, under the hand of Emmanuel C. Ukala, SAN, dated 23rd June, 2020, the defendants were given opportunity to retract, and recant the publication as well as to offer apology for the false publication but the defendants spurned the opportunity and ignored the letter completely.”
The governor, while responding to claim by lawyer to the defendants, Turudu Ede, SAN, that the essence of the lawsuit was to intimidate and harass his clients, said the whole essence of the suit was to get justice and clear his name as a man of substantial character, honour and repute.
“The essence of the suit is to get justice since they (defendants) refused to retract the publication or apologise. So, I sued them to clear my name.”
Speaking to journalists outside the court, one of the lawyers to Wike, Mr. Mark Agwu said his client was in court to seek legal redress.
“To challenge him as a person, it means you have made him untrustworthy, a deceit, a cheat, an influencer of the court, because the publication they made was that he had a role to play in influencing the outcome of that Federal High Court case. Nobody will take that lightly, and especially for a man who believes in the rule of law”, Agwu added.
The court adjourned the matter for further hearing to 12th, 13th and 14th of January, 2022.

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$130m Fraud: Rivers Sues Saipem SPA, Saipem Contracting Firm, Others

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The Rivers State Government has charged two construction firms, Saipem SPA and Saipem Contracting Nigeria Ltd, to court over an alleged conspiracy to cheat and with intent to defraud the state of the sum of $130million, being advanced payment for the construction of the OCGT power plant in Port Harcourt.
In a 16-count criminal charge filed by the Director of Public Prosecution, C.F. Amadi for the Rivers State Attorney General, the state alleged that after collecting the said sum as advanced payment between 2011 and 2018, the defendants have not kept their obligation under the contract.
Others charged alongside the companies were Walter Peviana; Kelechi Sinteh Chinakwe; Giandomenico Zingali; Vitto Testaguzza and Davide Anelli, who are directors and officers of the companies.
The defendants are charged with various offences ranging from conspiracy, cheating and obtaining credit by false pretence, contrary to Section 518 (6) and (7) and punishable under Section 518 of the Criminal Code, Cap 37 Vol. 2 Laws of Rivers State of Nigeria, 1999, section 419A and punishable under Section 419 (A) (1) (b) of the Criminal Code, Cap 37 Vol. 2 Laws of Rivers State, amongst others.
Already, the Rivers State Government has issued a fiat to the law firm of Godwin Obla (SAN) to prosecute the matter before the state High court.
The defendants are equally charged for the offence of false Statements by Officials of Companies contrary to and punishable under Section 436 (b).
The prosecution specifically accused the defendants of obtaining credit of $130million by false pretences or other fraud contrary to Section 419A and punishable under Section 419 (A) (1) (b); obtaining credit of $20,467,942.00 by false pretences or other fraud contrary to Section 419A and punishable under Section 419 (A) (1) (b), obtaining credit of N7,000,000,000.00 only by false pretences or other fraud contrary to Section 419A and punishable under Section 419 (A) (1) (b).
They are charged for obtaining credit of N318,640,173.54, by false pretences or other fraud contrary to Section 419A and punishable under Section 419 (A) (1) (b); attempt to cheat $97million contrary to Section 508 and punishable under Section 509; attempt to cheat $15million contrary to Section 508 and punishable under Section 509; conspiracy to receive a credit of $97million by false pretences contrary to Section 518 (6) and punishable under Section 518; cheating $11million contrary to Section 421 and punishable under Section 421; cheating contrary to Section 421 and punishable under Section 421; cheating N110, 097, 416.51 contrary to Section 421 and punishable under Section 421; cheating by collecting sums attributable to shared facilities already paid for in AFAM Phase I in AFAM Phase II contrary to Section 421 and punishable under Section 421.
Obtaining N20, 467, 942 contrary to Section 421 and punishable under Section 421; obtaining credit of $60,168,936.00 by false pretences or other fraud, contrary to Section 419A and punishable under Section 419 (A) (1) (b); obtaining credit of $1,512,034.00 by false pretences or other fraud contrary to Section 419A and punishable under Section 419 (A) (1) (b) all of the Criminal Code Law of Rivers State, Cap 37 Vol. 2 Laws of Rivers State of Nigeria 1999.
According to the Proof of Evidence attached to the charge and the statement made by the Head, Power Generation/Mechanical of the Rivers State Ministry of Power, one Mr Temple Azunda M., the facts constituting the case in hand are as follows:
Saipem SPA and Saipem Contracting Nigeria Limited and other officers of the duo, herein the Defendants, are Italian companies which services have been retained by the Rivers State Government, herein RSG, in several projects, prominent amongst which is the AFAM Phase II Power Plant Project.
By an initial tripartite agreement made on the January 20, 2010, the RSG under the auspices of the Rivers State Ministry of Power entered a contract with Saipem Contracting Nigeria Limited, Saipem SPA for the construction of the OGCT power plant in Port Harcourt at a total cost of $119million consequent upon which the Rivers State Government made advance payments, in instalments, to Saipem Contracting Nigeria Ltd and Saipem SPA amounting in total to a sum of $130million in all which the Defendants have acknowledged receipt of.
The Defendants were to be given an initial mobilization of 20per cent of the total contract sum which the RSG paid.
It was part of the initial agreement – and indeed a condition sine qua non – that, to access the 2nd tranche of payment of 25per cent from the Rivers State Government, the Defendants would mandatorily have installed the Gas Turbine into the foundations as referenced in ATTACHMENT 1 to VO 007 which states that:
CONTRACTOR shall be entitled to a payment corresponding to 20per cent of the VO No. 007 LS PRICE upon mobilisation to site and commencement of bush clearing activities at SITE.
Upon commencement of bush clearing activities at the site, the contractor shall issue the invoice relevant to the above payment and the owner shall pay such invoice within 14 days from its issuance.
The parties agree that no deduction for recovery of advance payment shall apply on the payment due to the contractor for invoices issued by the contractor in accordance with this paragraph.

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