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Jonathan Explains Improved Power Supply

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President Goodluck Jonathan says the Federal Government embarked on improving power supply in the country to boost industrialisation and create jobs for the teeming youths of the country.

At his Presidential Campaign rally in Abia State held Thursday at the Enyimba Stadium in Aba, the commercial hub of the state, Jonathan who is the Presidential candidate of the Peoples Democratic Party (PDP), also promised to tackle the problem of insecurity nation-wide and erosion menace in the South East.

He told the crowd that the biggest power plant of 1,074 mega watts under the National Integrated Power Project (NIPP) was sited in Aba to boost the people’s entrepreneurial skill in particular and industrialisation in the country in general.

He said Abia State was vital to the realisation of Nigeria’s 20:20:20 vision because Aba as an industrial centre would play a leading roll  in realizing that vision, adding that provision of constant power would equally enhance the people’s creativity.

The President expressed hope that when the NIPP comes on stream, Nigeria would witness economic and industrial growth. “Abia has many entrepreneurs who need government to create the enabling environment for them to fly,” Jonathan said, adding “I will be happy to see that the first  Nigerian aircraft is manufactured here.” He said his administration was poised to realize Nigeria’s industrial and technological growth if he wins the April polls.

He also promised that the federal government would tackle the issue of insecurity frontally to enable Nigerians to move freely while the erosion menace ravaging the South East would also be addressed.

The President commended Abia political leaders for moving Abia into the mainstream of Nigeria;s politics and assured them that they would reap bountifully from that action.

Vice President Namadi Sambo called on the people of Abia and Nigerians to vote for the President in the April polls, stressing that Jonathan was poised to transform the country. He added that the power project was aimed at maximizing the enterprising spirit and industrial potentials of Abia people and enjoined Abians to vote for them.

Acting National Chairman of PDP, Dr. Bello Mohammed, observed that President Jonathan was already implementing what he was promising Nigerians in the course of his campaigns. He said the President would do more if returned to office.

He challenged Presidential candidates of other parties to also embark on nation-wide campaigns to tell Nigerians what they have to offer. He said they should not fold their arms now only to rush to the courts after PDP would have emerged victorious at the polls in April after working hard for it.

Mohammed said though he was optimistic of PDP victory, their supporters should troop out and cast their votes.

Governor Theodore Orji, expressed gratitude to Jonathan for taking security measures that greatly assisted in flushing kidnappers out of the state and creating a new Army Brigade at Ohafia, amongst other s and assured him of the support of the people.

Chairman of Abia PDP, Senator Emma Nwaka, and other Abia political leaders including Chief Onyema Ugochukwu, Former Senate President, Chief Adolph Wabara, Senators Uchechukwumerije, Enyinnaya Abaribe, Nkechi Nwaogu and General Ike Nawachukwu, in their separate speeches, assured Jonathan of the massive support of Abians.

The rally was not without it bad side as a part of the crowd, mostly those who were at the gallery by the right hand side of the entrance to the stadium, heckled the governor when he was delivering his speech as well as any time his name was mentioned.

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Oil & Energy

Buhari Thumbs Up For NLNG As NNPC Reviews Activities

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The Nigerian National Petroleum Corporation (NNPC) held its head high as it commenced activities for the week following commendation from President Muhammadu Buhari for rallying shareholders to make Nigeria Liquefied Natural Gas Limited (NLNG) a company to reckon with.
Buhari who is also the Minister of Petroleum Resources gave the commendation at the ground breaking of the NLNG Train 7, recently.
He said that the NLNG had always been associated with success and had become a global company.
“The NLNG Train 7 represents another historic milestone in the history of NLNG. NLNG story has been associated with success,” he said.
The president also said that the NLNG had contributed 114billion dollars in taxes to Nigeria, and tthat with NLNG Train 7, there would be more jobs that would touch the lives of everyone particularly the host community.
He expressed joy how the NLNG had transformed from just a project to a very successful company in about 30 years.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, urged all shareholders to work hard to ensure the successful completion of the project which he said would boost government’s efforts to make Nigeria a fully industrialised nation.
Sylva also said the project would help the nation’s gas development aspiration.
NNPC’s Group Managing Director, Mallam Mele Kyari, that there was consensus among shareholders and board members to take the next step towards providing additional capacity which should be greater than what was on ground.
The NNPC GMD thanked President Muhammadu Buhari for his quick intervention which ensured the eradication of all pre-existing stumbling blocks on the path of NLNG Train 7 project
Also in the week under review, Minister of State for Petroleum, Sylva commended President Buhari at a ceremony to mark the execution of Shareholders Agreement between the NNPC, the Nigerian Content Development & Monitoring Board (NCDMB) and Zed Energy.

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Oil & Energy

Total Nigeria Advocates Petroleum Subsidy Removal

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Managing Director Total Nigeria, Plc, Mr Imrane Barry, says removal of petrol subsidy will help government to redirect its earnings to support infrastructure development for economic growth and development.
Barry made this known when he featured on a roundtable on Downstream and midstream at the Nigeria International Petroleum Summit (NIPS) in Abuja.
He spoke on the topic “The down/midstreams: Paths to the future through holistic and integrated solution”.
He said that signing of the Petroleum Industry Bill would help to unbundle the oil and gas industry and encourage development, private investment and create jobs.
“The petrol subsidy regime costs the country approximately 2.6 billion dollars (N1 trillion) per year and the country can no longer afford it.
“The removal of the subsidy will allow government direct more of its earnings towards infrastructure and social development,” he said.
He said that since government had declared decade of gas, there was need for Investment in Natural Gas.
He added that government needed to continue to push policies that would favour private participation and investment in the gas value chain, production, storage and distribution.
“Also, government needs to give incentives for investors in the sector, tax rebates etc to encourage long term participation.
“In the B2C sector, the government should put in  place incentives for customers to switch from white fuels to gas powered machines for road transportation.
“They should continue investment in the nation’s critical infrastructure that aids trade and commerce,’’ he added.
He further called for the fixing of Apapa ports and other ports in Nigeria, development of interstate road network, fixing of rail lines for human and cargo transportation
Commenting on impact of COVID-19 pandemic to global oil market, he said that it made the market volume shrank by 30% while margins became weak(Losses) with aviation sector mostly affected for the following reasons.
He added that the global economy was badly affected generally due to airport closure, drop in international prices of jet fuel platts which , led to a huge loss in aviation business due to contractual agreement with international airlines coupled with large amount of “old stock” in tank.
“PMS is a regulated product, with the price fixed by the government; resulting in fixed margins.
“The devaluation of the Naira from N360 to N380 during the pandemic, coupled with rising inflation in the country further eroded this “fixed margin” for the players in the downstream sector,” he said
He urged government to ensure speedy passage of the PIB to help the sector play its part effectively.

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Oil & Energy

Partners Execute Shareholder Agreement For Brass Products Terminal

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The Nigerian National Petroleum Corporation, (NNPC), along with their partner, the Nigerian Content Development & Monitoring Board, NCDMB, and Zed Energy have executed a shareholders’ agreement for the establishment of a 50 million litre Petroleum Products Terminal in Brass, Bayelsa State.
The N10.5 billion Brass Petroleum Products Terminal project is expected to deliver an automated 50 million litre depot with two-way product jetty, automated loading bay, and 6 automated tanks for storage of 30 million litres of Premium Motor Spirit (PMS)and 20 million litres of Automotive Gas Oil (AGO) and Dual Purpose Kerosene (DPK).
While speaking at the signing ceremony, the Minister of State for Petroleum Resources, Chief Timipre Sylva commended President Muhammadu Buhari for his giant strides in the Niger Delta which is making a huge impact on the people of the area.
“I make bold to say today without any fear of contradiction that no President has impacted the people of the Niger Delta like President Muhammadu Buhari. Aside from what we are witnessing today, remember there is also the Brass Fertilizer & Petrochemical Company, the Oloibiri Oil and Gas Museum and the Oil & Gas Park in Ogbia, all under Mr. President,” the Minister stated.
Sylva added that the establishment of the Terminal further demonstrates Mr. President’s commitment to the enhancement of the livelihood of the Niger Delta people particularly, the riverine communities in Bayelsa State where people purchase products at exorbitant prices due to logistics challenges associated with transporting products to that area.
Speaking shortly after signing the agreement, the Group Managing Director of the NNPC, Mallam Mele Kyari said the Corporation was proud to be part of the project which aside ensuring products availability in all nooks and crannies of the Niger Delta, will also guarantee the nation’s energy security and generate employment.
“This Terminal will create 1,000 direct jobs during the construction phase, and over 5,000 indirect jobs during its operation. Considering the potential for employment when completed, this will definitely reduce youth restiveness in the Niger Delta area and will also address the problem of illegal refining in the area,” Kyari stated.
In his remarks, the Executive Secretary of NCDMB, Simbi Wabote stated that this milestone was as a result of strong interagency collaboration and public-private sector partnership.
“The NCDMB will continue to drive such partnerships across the industry to bring development in Nigeria,” he noted.
Earlier, the Coordinator of the Project and Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr. Bala Wunti stated that the project would enhance the economics of marine petroleum products distribution.

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