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‘ISOAN Can Create Five Million Jobs’

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15 years ago

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The Nigerian National Petroleum Corporation (NNPC) still says there is enough kerosene in circulation.

Dr Levi Ajuonuma, NNPC Group General Manager (Public Affairs Division) told newsmen in Lagos that the scarcity was artificial.

Ajuonuma said that marketers were responsible for the scarcity because NNPC had enough kerosene in stock and wondered what the cause of the scarcity was.

“NNPC has enough kerosene in stock and we are appealing to major and independent marketers to ensure effective distribution to end users.

“We have told them several times to ensure that petroleum products are taken from NNPC depot to the end users to end the scarcity of the kerosene.

“Marketers are the ones causing artificial scarcity to hike the price of the product,” Ajuonuma said. But the independent marketers told journalists on Wednesday that they did not have enough kerosene in stock.

Six marketers, who preferred anonymity, said the allegation that marketers were hoarding the product was false.

They said that marketers would not deliberately hoard kerosene nationwide.

One of them said marketers would not want to join issues with NNPC, adding that the truth was that the cost of kerosene was now high at the international market.

According to him, it is only the NNPC that can import sufficient kerosene to meet nationwide demand.

“Kerosene scarcity will persist in the country for as long as the high prices of crude oil in the international market remained.

“If there is scarcity, it means NNPC is not importing enough. It would have been easier for marketers to import if kerosene business was deregulated.

“Marketers will only dispense what they have and what sense does it make for us to have kerosene in our tanks and not dispense it?” one marketer asked.

Reports have it that the product has become a scarce commodity nationwide.

The price of kerosene has shot up in states like Rivers, Kaduna, Bauchi, Lagos, among others. The price has risen by about 150 per cent.

A survey of some major filling stations showed that a litre of kerosene now sells for between N150 and N180 against the official price of N50.

At the black market, a four-litre jerry can is sold for N1,300 while the 20-litre jerry can goes for N4,800 in Port Harcourt.

Prospective buyers spend several hours on long queues at filling stations before getting the product.

Members of the Indigenous Ship Owners Association of Nigeria (ISOAN) can provide five million jobs if the Federal Government changes its current maritime trade policy, a maritime expert, Chief Chijioke Egwuagu, said on Wednesday.

Egwuagu, the Chairman of a maritime firm, Multi Trade Group of Companies, told newsmen in Port Harcourt that the policy whereby crude oil buyers were allowed to come in and load their consignment with their own vessels was causing the nation colossal economic loss.

“Of all the member countries, which produce oil, Nigeria is the only country that still operates the trade policy of Freight On Board as against Cost Insurance Freight as done by other nations,’’ he claimed.

The maritime expert said the “outdated” policy had resulted in the loss of more than $150 millon monthly in crude oil sales made by Nigeria.

He said the enormous economic loss was regrettable and added that the indigenous ship owners were ready to collaborate with the government to put an end to it.

“The message we have sent to the President is to change Nigeria’s trade policy from FOB to CIF and we will bring in 20 brand new vessels of international standards to lift our crude with Nigerian-flagged vessels,” he noted.

Egwuagu said that, through his effort, the group had already secured a $1.8 billion offshore funding for the acquisition of 20 brand new ocean-going vessels.

A delegation of the association, he said, had also registered its commitment through the Minister of Transport, Alhaji Yusuf Suleiman, to President Goodluck Jonathan.

“As a group, we are ever ready to make bold our position because most crude oil buyers have ripped off the economy of Nigeria through this FOB policy and we are out to stop it,’’ Egwuagu said.

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Two Federal Agencies Enter Pack On Expansion, Sustainable Electricity In Niger Delta

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5 days ago

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February 16, 2026

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The Niger Delta Development Commission (NDDC) has signed a Memorandum of Understanding (MoU) with the Rural Electrification Agency (REA) to expand access to reliable and sustainable electricity across the Niger Delta region.
The agreement, signed at the headquarters of the REA in Abuja, was targeted at strengthening institutional collaboration and accelerating development in underserved communities in the region.
A statement by the Director, Corporate Affairs of the NDDC, Seledi Thompson-Wakama, said the pact underscores renewed efforts by the two federal interventionist agencies to deepen cooperation and fast-track infrastructure delivery.
Speaking at the signing ceremony, the Managing Director of the NDDC, Dr Samuel Ogbuku, described the MoU as a strategic step towards realising the Commission’s vision to “light up the Niger Delta” in line with national priorities on distributed energy expansion.
Ogbuku said the agreement represents a shared institutional responsibility to deliver reliable energy solutions that will enhance livelihoods, stimulate local economies and create broader opportunities across the nine Niger Delta states.
According to him, electricity remains a critical enabler of national development, supporting job creation, healthcare delivery, education and inclusive economic growth.
He noted that the collaboration would help unlock the economic potential of rural communities while advancing broader national development objectives.
The NDDC boss added that the Commission has consistently adopted partnership-driven approaches in executing projects in the region and is prepared to support the implementation of the MoU by leveraging its community presence and infrastructure development capacity.
He reaffirmed the Commission’s commitment to working closely with the REA to ensure the timely and effective execution of the agreement.
The NDDC delegation at the event included the Executive Director, Projects, Dr Victor Antai; Executive Director, Corporate Services, Otunba Ifedayo Abegunde; Director, Legal Services, Mr Victor Arenyeka; Director, Finance and Supply, Mrs Kunemofa Asu; and Director, Liaison Office, Abuja, Mrs Mary Nwaeke.
In his remarks, the Managing Director of the REA, Dr Abba Abubakar Aliyu, described the MoU as a natural collaboration between two agencies with complementary mandates, reflecting a shared commitment to expanding access to sustainable electricity in rural communities.
Aliyu said the Niger Delta remains central to Nigeria’s economic fortunes and must be supported by infrastructure capable of driving productivity, enterprise and improved living standards, adding that the partnership signals readiness to deliver stable power to communities that have long awaited reliable electricity supply.
By: King Onunwor
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Why The AI Boom May Extend The Reign Of Natural Gas 

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5 days ago

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February 16, 2026

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Artificial intelligence is often viewed as a catalyst for electrification and subsequently decarbonization. Yet one of its most immediate effects may be the opposite of what many assume. The rapid buildout of AI infrastructure is increasing demand for reliable power, and that reality could strengthen the role of natural gas and other dispatchable energy sources for many years.
Investors focused on semiconductors and software valuations may be overlooking a key constraint. AI runs on electricity, and those electricity systems operate within physical and economic limits.
The energy sector has spent much of the past decade grappling with slow load growth. That is now changing, in a way that is reminiscent of the sharp rise in oil demand—and subsequently price—in the early 2000s.
Training large language models and operating advanced AI systems requires enormous computing resources. Hyperscale data centers are expanding rapidly, with developers requesting gigawatt-scale interconnections from utilities. In several regions, electricity demand forecasts have been revised upward after years of flat expectations.
This shift is significant because AI workloads create continuous, high-density demand rather than intermittent usage. Data centers cannot simply power down when the electricity supply becomes constrained. Reliability becomes paramount.
Wind and solar capacity continues to expand, but intermittent generation alone cannot meet the firm capacity needs of AI infrastructure without significant storage or backup generation.
Battery storage is improving, yet long-duration storage remains costly at scale. Nuclear projects face long development timelines and complex permitting hurdles. Transmission expansion also lags demand growth in many regions.
These constraints make dispatchable power sources critical. Natural gas plants can ramp quickly, operate continuously, and be deployed faster than many alternatives. As a result, gas-fired generation is increasingly viewed as a practical solution for supporting AI-driven load growth.
This does not undermine the role of renewables. In many markets, new renewable capacity is paired with gas generation to maintain grid stability. The key point is that AI-driven electrification is likely to increase fossil fuel usage in the near term.
Construction timelines favor gas-fired generation when demand rises quickly. Existing pipeline infrastructure reduces barriers to expansion. And for operators of data centers, reliability often outweighs ideological preferences. Downtime is simply too expensive.
Utilities are also revisiting resource plans as load forecasts rise. That shift may drive increased investment in transmission, grid modernization, and flexible generation assets.
The Decarbonization Story Is Complex
A common narrative holds that AI accelerates the transition away from fossil fuels because it increases electrification. The reality is more nuanced.
If electricity demand outpaces the buildout of low-carbon capacity, fossil generation may still increase in absolute terms even as renewables gain market share. Total emissions could rise, but the carbon intensity of the energy system may trend lower as cleaner sources make up a larger share of supply.
Ultimately, energy systems evolve based on engineering and economics, not just policy goals or market narratives.
Rising power demand could benefit utilities investing in transmission and generation capacity. Natural gas producers and midstream companies may see structural demand support from increased power-sector consumption. Equipment suppliers tied to grid reliability and gas turbines could also gain from the shift.
Longer term, advances in nuclear, storage, or efficiency may change the trajectory. For now, the immediate response to surging electricity demand is likely to rely on technologies that can be deployed quickly and reliably.
Artificial intelligence may reshape the economy in profound ways. One of the least appreciated consequences is that it may extend the relevance of natural gas as the world builds the energy backbone required to power the next generation of computing.
By: Robert Rapier
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Ogun To Join Oil-Producing States  ……..As NNPCL Kicks Off Commercial Oil Production At Eba

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5 days ago

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February 16, 2026

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Ogun State is set to join the comity of oil producing states in the country following the discovery and subsequent approval of commercial oil exploration activities in the Eba oil well, in Ogun Waterside Local Government Area of the state.
A technical team from the Nigerian National Petroleum Company Limited (NNPCL) has visited the area as preparations are in advanced stage for commencement of commercial drilling operations in the state.
The inspection followed President Bola Ahmed Tinubu’s approval for commercial exploration, forming part of the federal government’s efforts to deploy the required technical capacity and infrastructure for production.
Officials of NNPCL carried out the exercise alongside representatives of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and national security agencies to evaluate the site and confirm its readiness for drilling activities.
The delegation was led by Project Coordinator for Enserv, Hussein Aliyu, who headed the NNPCL Enserv technical team.
Other members included Wasiu Adeniyi, Onwugba Kelechi, Engr. Rabiu M. Audu, Ojonoka Braimah, Ahmad Usman, Akinbosola Oluwaseyi, Salisu Nuhu, James Amezhinim, Yusuf Abdul-Azeez, Amararu Isukul and Livinus J. Kigbu.
Speaking, Governor Dapo Abiodun, described the development as a landmark achievement for Ogun State, saying “the commencement of drilling at Eba would stimulate economic growth, create employment opportunities and attract increased federal presence to the state’s coastal communities.
Abiodun also expressed appreciation to President Tinubu for his support toward the development of frontier oil basins and the equitable spread of the nation’s energy resources.
Recall that geological reports had earlier confirmed the presence of hydrocarbons within the Ogun Waterside axis, leading to preliminary surveys and technical engagements by NNPCL.
The Ogun State Government also carried out an independent verification of the oil well’s coordinates, affirming the discovery is located within the state’s boundaries.
To secure the project, naval security personnel have been deployed to the site for over 18 months, with the support of the Ogun State Government, to protect the facility and its environs.
The Eba oil well is regarded as part of Nigeria’s strategic move to expand oil production beyond the Niger Delta region.
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