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NNPC Launches Televised Bidding For Oil Contracts

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The Nigerian National Petroleum Corporation (NNPC), yesterday, commenced the auctioning of annual crude term contracts on live television, and vowed to cut the number of contract holders by a third in a drive to boost transparency at an institution dogged by corruption.
The contracts cover the bulk of Nigeria’s nearly 2 million barrels per day (bpd) of crude oil exports, which are a key contributor to the country’s economy.
President Muhammadu Buhari, who was elected on March 28, and inaugurated on May 29, 2015, on a campaign to “fix” Africa’s biggest economy, has vowed to end graft at NNPC where billions of dollars were alleged not to have been remitted to state coffers in the past.
As in previous years, the tender was published in newspapers, inviting bidders to take part.
But the bidding process itself and the tender awards, which used to take place behind closed doors, were now live on television.
“This is not business as usual. This is going to be different,” an NNPC official said during the televised round.
NNPC Group Managing Director, and Chairman of the Tenders’ Board, Dr Emmanuel Ibe Kachikwu, said the new bidding process would help the sprawling firm to become more efficient.
“The essence of this really is … that you can go to this process and sign off your long-term contracts…,” Kachikwu told bidders assembled at the NNPC headquarters in Abuja.
The company plans to cut the current number of 43 contract holders to just 16, which NNPC officials said, would ensure companies get oil when they need it.
In the past, NNPC has allocated more oil to companies than it in fact produced, meaning some contract holders did not get everything they were promised.
A total of 278 companies submitted bids before the deadline last week. After roughly an hour and a half of proceedings, 75 bids had been opened.
Oil traders said the pressure would also be on NNPC to award contracts only to companies with the ability to sell or process it themselves in order to maximise Nigeria’s income.
“Some contracts used to go to companies that didn’t have the background to trade 950,000 barrels of crude,” one oil trader said, adding that they would just sell it to international trading houses, by adding a fee to the cost.
In the current oil price environment, the trader added, NNPC could no longer justify such arrangements.

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NIGERIA AT 65: FUBARA HARPS ON UNITY, PEACE

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The Governor of Rivers State, Sir Siminalayi Fubara, has begun the celebration of Nigeria’s 65th Independence anniversary with a Juma’at service where prayers were offered for the progress of the state and Nigeria.

Governor Fubara, who advocated for peace and unity of Nigeria during the prayers on Friday at the Rivers State Central Mosque, Port Harcourt, indicated that without peace, the accelerated development of Nigeria will remain in a limbo.

Governor Fubara, who was represented by Alhaji Abdurrazaq Diepriye, therefore urged citizens to remain patriotic.

According to him, “Allah has brought us this far. Without peace, we can not have progress and economic development. I call on all citizens irrespective of creed or tribe to remain patriotic.”

He thanked President Bola Tinubu for restoring peace in Rivers State while also using the forum to appreciate security agencies for their relentless effort in upholding the peace and unity of Rivers State and Nigeria.

 

The Chief Imam of Rivers State Central Mosque, Imam Ibrahim Yaloo, admonished Moslem faithful to always speak the truth, adding that those who obey Allah will be directed to good deeds and their sins forgiven.

 

Prayers were offered for Rivers State and Nigeria.

 

Other activities to mark the 65th Independence anniversary in the state include an Inter-denominational Church Thanksgiving Service on Sunday, 28th September and Parade Ceremony on Wednesday, 1st October.

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Shettima departs New York for Germany after UNGA engagement

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Vice-President Kashim Shettima departed New York on Sunday after representing President Bola Tinubu at the 80th session of the United Nations General Assembly.

In a statement released on Sunday by the VP media aide, Stanley Nkwocha, the Vice President is now headed to Germany, where he will hold strategic meetings with officials of Deutsche Bank.

The statement read, “Vice President Kashim Shettima has departed New York, United States, after successfully representing President Bola Ahmed Tinubu, GCFR, at the 80th Session of the United Nations General Assembly.

“During his participation at UNGA 80, VP Shettima secured UN Secretary-General António Guterres’ commendation for Nigeria’s bid for a permanent UN Security Council seat.

“He also showcased Nigeria’s $200 billion energy transition opportunity to global investors and strengthened strategic partnerships with the UK on trade, defence, and migration issues.”

Nkwocha added that the VP delivered Tinubu’s national statement, calling for UN reforms and a permanent seat for Nigeria at the UN Security Council, and “demanded Africa’s control over its $700 billion mineral wealth, and digital inclusion initiatives.”

“He also engaged with the Gates Foundation on healthcare and education expansion, positioning Nigeria as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.

“VP Shettima was seen off at John F. Kennedy International Airport, New York, by cabinet Ministers who were part of the UNGA 80 delegation and Nigerian Mission officials.”

The aide noted that Shettima will return to Nigeria immediately after his engagements in Germany.

The Tide source recalls that the VP departed Abuja, yesterday.

He led other Nigerian officials at the Assembly.

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FG holds special thanksgiving service ahead of 65th Independence Day

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As part of Nigeria’s 65th Independence anniversary celebration, the Federal Government held a special thanksgiving service on Sunday at the National Ecumenical Centre in Abuja to offer prayers and give thanks for the nation.

The event drew top government officials and security chiefs, including Senate President Godswill Akpabio and Secretary to the Government of the Federation, George Akume, as well as their spouses.

Other notable guests included Finance Minister and Coordinating Minister of the Economy Wale Edun, former Plateau State Governor, Senator Simon Lalong, and the Chief of Defence Staff, General Christopher Musa, who led the service chiefs in attendance.

Service chiefs present included the Chief of Naval Staff, Vice-Admiral Emmanuel Ogala, Inspector-General of Police Kayode Egbetokun, Comptroller-General of the Nigerian Immigration Service, Mrs Kemi Nandap and Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, among others.00

The service came days after the government unveiled the official theme and some of the activities slated for the 2025 Independence celebrations.

This year’s anniversary is tagged “Nigeria @ 65: All Hands on Deck for a Greater Nation,” as announced by the Director of Information and Public Relations at the Office of the Secretary to the Government of the Federation, Segun Imohiosen, in a statement on Wednesday.

“As part of activities to mark the 65th Independence Anniversary, the Juma’at Prayer and the Inter-Denominational Church Service will be held on Friday, 26th September at 1 pm and Sunday, 28th September at 10 am respectively, as well as the World Press Conference on Monday, 29th September at 10 am,” he said.

The Tide source had earlier reported that President Bola Tinubu, alongside former Heads of State, Yakubu Gowon, Olusegun Obasanjo and Goodluck Jonathan, is expected as a special guest at a national discourse convened by the Island Club, Lagos, to mark Nigeria’s 65th Independence Anniversary.

 

 

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