Oil & Energy
Oil Theft: Bayelsa To Set Up Maritime Securty
Worried by the high level of oil theft and pipeline vandalisation especially in the riverine areas of the state, Governor Seriake Dickson, has indicated the intention of his administration to introduce an equivalent of Operation Doo Akpoo, the state security outfit to man oil installations and security of lives and security along the waterway.
Governor Dickson who stated this in Government House, Yenagoa, when the Managing Director of the Nigeria Agip Oil Company (NAOC), Mr Gro Pagano, paid him a courtesy visit decried the alarming increase in oil theft in the Niger Delta region, saying that, the situation was becoming worrisome, as it was having effects on the economy of not only Bayelsa State, but the nation as a whole.
The governor, who condemned acts of pipeline vandalism and oil theft across the country, however, identified insider abuse and inappropriate operational modalities of oil companies as some of the factors responsible for perpetration of the unpatriotic acts.
Reiterating his administration’s zero tolerance for crime and criminality, he disclosed that government will set up the maritime equivalent of Operation Doo Akpoo to man oil installations across the state as well as ensure security of lives and property on the waterways.
“We are going to deploy the maritime equivalent of Operation Doo Akpo in the riverine areas. That means we are going to do what we have done in the upland by building check-points across the creeks with communication gadgets, gunboats and other facilities including more manpower, their training and allowances.
“That is why all of us who are joint stakeholders in the preservation of security, particularly in the areas where you operate, have to come together and work more closely. We are not interested in collecting money from our partners. What we are interested in is a collaborative framework,” Governor Dickson stated.
Lamenting the absence of functional offices of multi-national companies operating in the state, he called for the establishment of such offices, adding that aside boosting the IGR of the state, it would generate employment opportunities for the teeming youths of the state.
According to him, the present administration’s ambitions development plan requires a lot of funds to drive it and stressed that the establishment of befitting offices will equally enhance the aesthetic beauty of the state.
He said,” I’ve always said that we see you people as our development partners particularly Agip, because as you know the bulk of your operations are in Bayelsa. But again, there are contradictions that come with that, and I will not fail to point out the contradiction in terms of the absence of an operational office that befits our contributions to your corporate business.
“If you are here, you will support us in terms of taxes and revenues which your company has been depriving us of, all these years by not having an appropriate corporate presence here. Meanwhile, we need those funds to support our ambitions development drive. If we have money and we are able to meet our responsibilities, we can then work better to create a safer operating environment.’
Governor Dickson also urged the state development partners to collaborate more effectively with government in leveraging the mechanisms that have already been provided by the security trust fund.
Earlier in his remarks, the leader of the delegation, NAOC’s Managing Director, Mr Ciro Autonio Pagano described the current trend and occurrences of oil theft as alarming.
Mr Pagano explained that the team was in the state to hold discussion with government on how best to solve the nagging problem.
Oil & Energy
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Oil & Energy
Power Supply Boost: FG Begins Payment Of N185bn Gas Debt
In the bid to revitalise the gas industry and stabilise power generation, President Bola Ahmed Tinubu has authorised the settlement of N185 billion in long-standing debts owed to natural gas producers.
The payment, to be executed through a royalty-offset arrangement, is expected to restore confidence among domestic and international gas suppliers who have long expressed concern about persistent indebtedness in the sector.
According to him, settling the debts is crucial to rebuilding trust between the government and gas producers, many of whom have withheld or slowed new investments due to uncertainty over payments.
Ekpo explained that improved financial stability would help revive upstream activity by accelerating exploration and production, ultimately boosting Nigeria’s gas output adding that Increased gas supply would also boost power generation and ease the long-standing electricity shortages that continue to hinder businesses across the country.
The minister noted that these gains were expected to stimulate broader economic growth, as reliable energy underpins industrialisation, job creation and competitiveness.
In his intervention, Coordinating Director of the Decade of Gas Secretariat, Ed Ubong, said the approved plan to clear gas-to-power debts sends a powerful signal of commitment from the President to address structural weaknesses across the value chain.
“This decision underlines the federal government’s determination to clear legacy liabilities and give gas producers the confidence that supplies to power generation will be honoured. It could unlock stalled projects, revive investor interest and rebuild momentum behind Nigeria’s transition to a gas-driven economy,” Ubong said.
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