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TERL’s Board Of Directors Challenged

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15 years ago

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The Board of Treasure Energy Resources Limited (TERL) has been challenged to ensure that the objective for which the company was set up is vigorously pursued and realised.

Speaking while handing over the company’s registration and other vital documents to the board recently in Port Harcourt, a member of Rivers State Economic Advisory Council, Chief Emmanuel Chike observed that in the past, business ventures set up by government had not faired well.

Chief Chike, however, noted that with the caliber of men and women on the Board of TERL, he was confident that the company would grow in leaps and bounds and achieve its objectives.

Earlier in his remarks, the chairman of the Rivers State Economic Advisory Council (RSEAC), Prof. Nimi Briggs recalled that following the recommendation of the RSEAC and approval of the state governor, the ESEAC successfully midwived TERL. This process culminated in the registration of the company as well as the appointment and inauguration of the Board of Directors by government.

Receiving the documents, the Chairman, Board of Directors of TERL, Chief Chamberlain Oyibo described the occasion as historic and the conception of the company as well thought out.

Chief Oyibo stated that TERL would seriously develop human capacity in the petroleum sector, adding that the board would do its best to justify the vision of government and ensure that the people of Rivers State benefit maximally.

He thanked the Rivers State Economic Advisory Council for midwiving the company and solicited for their continued support.

Treasure Energy Resources Limited (TERL) owned by the Rivers State Government was registered on May 15, 2009 as a Limited Public Company. It is expected to be a leading indigenous petroleum company that will actively participate in the petroleum industry for the maximum benefit of the people and government of Rivers State.

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Rivers

Expert Demands Full Implementation Of PIA In N’Delta Oil Communities 

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1 week ago

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May 12, 2025

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An expert in Natural Resource Governance, Dr. Mike Uzoigwe, has called for the full implementation of the Petroleum Industry Act (PIA) for the development of oil communities in the Niger Delta region of Nigeria.
Uzoigwe made the appeal during a training for community representatives under the Host Community Development Trust (HCDT), held in Port Harcourt on Wednesday.
He noted that five years after the PIA was enacted, funding under the HCDT framework for member communities had yet to be fully implemented.
He attributed the slow pace of implementation to oil companies’ failure to remit funds, ongoing litigations, internal community disputes, and regulatory challenges, among other factors.
According to him, these challenges have made it difficult to properly assess the effectiveness of HCDT implementation in host communities.
Uzoigwe also expressed concern that several communities were yet to establish HCDTs, which are essential for accessing funds designated for local development.
“Fortunately, there are communities that have successfully leveraged the HCDT to advance development in their localities.
“However, we want every host community to access these funds to accelerate development in their respective areas and contribute to the broader transformation of the Niger Delta”, he stated.
Uzoigwe urged host communities to familiarise themselves with the provisions and regulations of the PIA to enable them to fully benefit from the Act.
Also speaking, the Executive Director of Kebetkache Development and Resource Centre, Dr. Emem Okon, explained that the training was organised for HCDT communities in Akwa Ibom, Bayelsa, Delta, Imo, and Rivers States.
According to her, the objective of the training was to equip participants with the knowledge and skills necessary to understand the PIA’s provisions, conduct needs assessments and undertake community development planning.
“We examined how the HCDT can be made effective and efficient in utilising the three per cent operational cost allocation for community development projects, as stipulated in the PIA.
“This allocation is structured as follows: 75 per cent for project execution, 20 per cent for savings, and five per cent for administrative costs.
“HCDT members are responsible for identifying and prioritising community needs through a transparent, sincere, and people-centred decision-making process in managing these funds”, Okon explained.
She encouraged host communities to engage actively with various stakeholders, including women, youth, farmers, and community leaders, to identify development projects that reflect the genuine needs of their communities.
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Opobo/Nkoro SOLAD Pledges To Prioritise Workers’ Welfare 

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1 week ago

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May 12, 2025

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The Sole Administrator of Opobo/Nkoro Local Government Area of Rivers State, Mr. Frederick Apiafi, says he will run an all-inclusive government for the betterment of the local government.
He stated that his priority is workers’ welfare in all ramifications and the good people of the area.
Apiafi stated this recently while addressing workers at the council’s headquarters in Opobo, saying that his direct mandate is to ensure that the existing peace is sustained.
According to him,  he is a technocrat, hence he will carry out his functions accordingly.
“Thank you all for welcoming me as your administrator. My mandate here is to ensure that you, workers, are well treated, with your salaries paid promptly, and give you what you deserve.
“You all are my brothers, sisters and friends. I know that together we can take this local government to  an enviable height. What I need from you is cooperation.
“I solicit for your support to enable us all succeed because I alone cannot achieve the desired development”, he urged.
The administrator used the forum to thank the Sole Administrator of the State, Vice – Admiral Ibok-Ete Ibas (rtd.)  for giving him the opportunity to serve his people and pledged that he will not disappoint him in any aspect, while promising to discharge his duties in strict  compliance to the charge of the  Sole Administrator.
Also speaking, the Chairman of Nigeria Union of Local Government Employees (NULGE) in the LGA, Comrade Diri Dandison, commended the administrator for placing workers’ welfare top on his list.
According to him, what workers want in the LGA is someone who can give them listening ears, and also give them what they deserve.
“I am happy that Mr. Fredrick Apiafi has placed welfare of workers first, but we pray he fullfills his promises. What we want is  for people  at the grassroots to also enjoy  dividends of  governance”, he said.
By: Theresa Frederick, Charity Amiso
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Navy Saves 99 Persons From Drowning In Rivers

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1 week ago

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May 12, 2025

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The Nigerian Navy Rescue Team from Nigerian Navy Ship PATHFINDER have saved 99 persons from drowning in Rivers State during an operation.
A statement by the Director of Naval Information, Commodore Aiwuyor Adams-Aliu, in Port Harcourt, said the incident occurred when a barge, ADAM (Damen Buba) was involved in a head-on collision with a market boat en route Akuku Toru Local Government Area in Rivers State, resulting in significant structural damage to the market boat.
He said the Nigerian Navy Ship PATHFINDER personnel deployed to Naval Security Station 035 in collaboration with four other Navy Gunboats launched a coordinated and effective search and rescue operation, saving all 99 passengers onboard.
According to him, most of the passengers’ goods were also salvaged successfully.
“The timely intervention and prompt response of Nigerian Navy personnel ensured that no lives were lost and most of the valuable properties were preserved.
“The Nigerian Navy hereby restates that under the leadership of the Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, the service will continue to ensure the security and safety of all legitimate sea farers within Nigeria’s maritime domain”, Adams Aliu said.
By: Theresa Frederick, Charity Amiso
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