Business

NNPC Intensifies Oil Search In Gongola, Other Inland Basins

Published

10 years ago

October 17, 2016

The Nigerian National Petroleum Corporation (NNPC) has embarked on a more rigorous exploration for oil in the Gongola and other inland basin using the latest seismic data gathering technology .
A statement by NNPC’s Group General Manager,Group Public Affairs Division, Garba Deen Muhammad, made this known in Abuja on Saturday
The NNPC Group Managing Director, Dr Maikanti Baru, the statement said, made the disclosure when he paid separate visits to the governors of Bauchi and Gombe States.
Baru said that the latest technology was similar to the ones used by neighbouring countries to discover oil in their countries..
He said the exploration was in strict compliance to President MuhammaduBuhari’s mandate.
NNPC, he said, had therefore commenced activities in the Gongola Basin by awarding the contract for seismic data acquisition of over 500KM2 3D seismic data in the first instance.
“NNPC is deploying state of the art technology in the present data acquisition and we are confident that these efforts will lead to clearer definition of the prospectively of the basin.”
He said that the contractors awarded the contract for the seismic data acquisition in the Gongola Basin, was Integrated Data Service Limited (IDSL).
Baru said the contractor was a subsidiary of the NNPC and Bureau for Geophysical Prospecting, a subsidiary of Chinese National Petroleum Corporation (BGP/CNPC) were mobilising to commence the project.
The GMD said that the seismic data acquisition activities and exploration well drillings would provide employment opportunities for the youths.
Baru said the multiplier effect of the envisaged employment would contribute to the economic empowerment of the surrounding communities and the nation at large.
He said that NNPC was in the process of awarding the Environmental Baseline Studies (EBS) and Environmental Impact Assessment (EIA) to Abubakar Tafawa Balewa University, Bauchi and Modibbo Adama University of Technology, Yola.
In their separate remarks, the governors of Bauchi an Gombe, Mohammad Abubakar and Ibrahim Dankwambo applauded the president for the pragmatic move to rigorously commence exploratory activities in the area.
They both stressed that the move would further grow the nation’s oil and gas reserves.
“I want to assure you of the unflinching support of Bauchi State and its good people towards this project.
“We are ready to provide offices and accommodation for all NNPC staff that will work on this project,” Abubakar said.
“Already, we have assigned two ministries that will work with your team on this laudable project.
“ I will work with my colleague Governors in the North- East to galvanize support from our people towards this project,” Dankwambo said.
Dankwambo also called on the media to support this renewed oil search in the area.
Giving their royal endorsements, the Emirs of Bauchi and Gombe reassured the Federal Government of their readiness to support the project, mobilise their subjects against interrupting the smooth operation of the exploratory activities in their domains.

Business

FG Approves 4 New Channel Management Firms For Seaports

Published

2 days ago

October 26, 2026

The Tide

The Federal Executive Council (FEC) has approved four new channel management companies for seaports across the country in a move aimed at improving vessel navigation and port operations.

Speaking at the recently concluded Annual General Meeting of the Nigerian Association of Master Mariners (NAMM), former General Manager, Marine and Operations, Capt. Ebubeogu Ihenacho, disclosed that there would be changes in the ownership of the Lagos Channel Management Company Limited and the Bonny Channel Management Company.

According to Ihenacho, the four channels serving Nigeria’s major port clusters will have different channel management companies as approved by the FEC.

He said a new company had been approved to manage the Lagos port channel, with a change of name, while the Calabar Channel would be managed by the Calabar Channel Management Company.

He added that Bonny Channel Management Company had also undergone a change of ownership.

On the Warri Channel, Ihenacho said the Federal Government had approved China Harbour Engineering Company (CHEC) and two other companies to form a consortium to manage the Escravos Channel.

He said: “For Warri, it was approved for China Harbour Engineering Company, CHEC, and two other companies, who would now form a consortium.

That consortium will now form a Special Purpose Vehicle (SPV) with the Nigerian Ports Authority to manage the Escravos Channel.”

Recall that the management of the NPA had declined to renew the concessions of the Lagos Channel Management Company Limited and the Bonny Channel Management Company, opting instead for six-month extensions of the existing arrangements.

By; Enoch Epelle

Business

RIRS Warns Against Unauthorised Tax Collection

Published

2 days ago

October 26, 2026

The Tide

The Rivers State Internal Revenue Service (RIRS) has warned motorists, transport operators and business owners against paying taxes, levies or charges to Unauthorised persons and organisations, insisting that only the Service and its duly appointed agents are legally empowered to collect taxes on behalf of the state government.

The Service gave the warning in a public notice dated October 21, 2026, signed by its Executive Chairman, Sir Israel O. Egbunefu, FCTI, in which it clarified that the Rivers State Ministry of Transport was not authorised by the state government to collect road tax or any other tax, levy or charge from motorists and transport operators.

RIRS also specifically disowned Explore Strategic Alliance Ltd, located at No. 7 Rumuodaolu Market Road, Port Harcourt, declaring the company had not been appointed or authorised by either the state government or the Service to collect Motor Vehicle Transport (MOT) tickets or any other tax on its behalf.

The revenue agency consequently cautioned members of the public against making payments to the company or any of its staff, stressing that anyone who ignored the warning would do so at their own risk.

It reaffirmed that only the legally authorised agency responsible for tax collection in Rivers State and the appointed agents that would carry out such duties in accordance with the law.

The Service urged taxpayers to demand official identification from anyone claiming to be its tax agent and verify the person’s credentials directly with RIRS before making payments.

It further warned that individuals or groups found impersonating tax consultants, agents or their representatives to collect Unauthorised taxes would be arrested and prosecuted in accordance with the law.

RIRS also called on members of the public to report suspicious persons and activities relating to Unauthorised tax collection to the Service for appropriate action.

The agency advised taxpayers seeking clarification or assistance to visit any of its offices or contact it through its official email address, info@riversbirs.gov.ng.

The Service reiterated its commitment to protecting taxpayers, promoting voluntary compliance and safeguarding the integrity of tax administration in Rivers State.

By: King Onunwor

Business

Bayelsa consumers Groan Over Inflation As Traders Remain Helpless Over Low Patronage

Published

2 days ago

October 26, 2026

The Tide

Consumers and traders at the Swali ultramodern market in Yenagoa, capital of Bayelsa State have continued to groan over high prices of commodities and poor Patronage due to cost-push inflation.

The Tide reports that in the past weeks prices of goods and services in Yenagoa metropolis has experienced increase.

Notable services like transportation have also increased lately due to increase in the pump price of fuel that has recently further exacerbated inflation in the prices of staple foods like rice, beans, garri and others.

Speaking with The Tide on a market survey, a trader, Mrs Tovie Barakabo said a bag of bean which sold between N120,000-N130, 000 now goes for N140,000-N145,000.

Mrs Barakabo also hinted that the only commodities whose price has not gone up was price of millet which sells N60,000, while big bag of garri now sells for N30,000.

The Tide further gathered from other inside Source that 25 litres of Kings cooking oil currently sells N75,000 as against the former price of N57,000.

Other commodities such as delicious vegetable oil now goes for N68,000, Pure vegetable oil currently goes for N66, 000, while spaghetti is now N18,800 per bag.

The market survey also discovered that Sonnia tomato mix sells N75,609, while a big and small basket of fresh tomatoes are sold for N30,000 and N6,500 respectively.

A disappointed custom, Mrs Juliet Domo who fielded questions from The Tide expressed her worries over the inflation, calling on government to take decisive stands against inflation.

By: Ariwera Ibibo-Howells, Yenagoa