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Battle For The Soul Of NNPC

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Nigeria’s fattest cow, the Nigerian National Petroleum Corporation (NNPC) is bleeding.
This time around, not as a result of bursting of its pipeline facilities by vandals or illegal bunkering activities, but due to clash of vested interest over its administrative and financial running procedures.
The life of this critical government parastatal is on the line and like a ravaged and utterly exposed woman, the corporation now lies helplessly in an intensive care unit, with the  hope of its survival hanging in the air.
The shadowy operations and internal squabbles in the corporation caught public attention when the Minister of State for Petroleum, Ibe Kachikwu burst the bubbles against the management of NNPC through a protest letter to Nigeria’s President, Muhammadu Buhari.
Kachikwu in the protest letter to his principal, ripped cans of worms open when he disclosed that the operations of NNPC, under the watch of Dr. Maikanti Baru as Group Managing Director (GMD), was shrouded in secrecy.
Kachikwu, a former GMD of NNPC in his now controversial memo picked holes in the modus operandi of the NNPC (GMD), Maikanti Baru.
The memo revealed that contract worth over $25bn were unilaterally awarded without recourse to due process, while appointments are made without consultation of key stakeholders especially with NNPC Board of Directors.
The memo sought among other things to promote application for fair and competitive standard and ethical practices in the corporation.
Kachikwu was said to have raised the memo out of apparent frustration after his several overture to discuss with his principal, President Buhari, were turned down by the president’s top cronies in Aso Rock, who are linked with the NNPC scam.
The development has since created a lingering disagreement between Kachikwu and Baru.
Buhari’s Chief of Staff, and NNPC Board member, Abba Kyari, was also fingered to have worked in connivance with the NNPC’s GMD to frustrate Kachikwu’s moves within the presidency.
The Minister of State for Petroleum was therefore left with no option than to rouse the seeming insensitivity of the President to his perceived persecution by the Aso Rock henchment through public alarm.
The NNPC GMD, Maikanti Baru however dismissed Kachikwu’s claims as false. In a swift response, Baru faulted Kachikwu especially on his accusations of irregularities in the award of contracts but was apparently silent on the issue of making appointments in the corporation without due consultations.
Baru explained that no money was involved in the contracts and that the NNPC Tenders Board has no business reporting to Kachikwu and the corporation’s Board.
Irked by Baru’s response, Kachikwu’s loyaltists have equally given a counter response insisting that Baru’s silence on the controversial appointment in the corporation was an indictment on his part.
They dismissed Baru’s response as “self serving” and urged the NNPC GMD not to hide behind illegality to justify wrong actions and called for proper investigation of the matter, “especially as it relates to policies on public procurement as enshrined in relevant laws and regulations governing procurement in Nigeria”.
On Baru’s submission that Kachikwu has no business in the internal administrative policies of NNPC, Kachikwu’s loyalists pointed out that constitutional provisions are clear on the president’s statutory rights to delegate power to his minister or any government functionary.
They insisted that Kachikwu as a former GMD of NNPC was not a novice in the corporation’s politics, as he was reputed to have instituted a culture of transparency at all levels under his watch, by publishing reports of operations in the corporation and briefing stakeholders periodically.
However, as the clash of interest rages on between Kachikwu and Baru’s camps, Nigerians are of the view that the controversies surrounding the operations of NNPC should not be swept under the carpet.
A Port Harcourt-based legal practitioner, Barrister Barivure Kpobe, described the NNPC scam as a tactical reflection of the rot in all critical sectors of the economy.
Commenting on the shocking revelations from the parties involved in the NNPC crisis, the Port Harcourt-based lawyer said proper investigations should be carried out to ascertain the true position of things in the corporation, while the law should take its full course.
A youth activist and public affairs analyst, Comrade Legborsi Yaamabana, called on all the parties involved to submit themselves to proper investigation and advised the presidency not to shelve anybody from appropriate investigation.
He decried a situation where some government officials will hibernate under the cover of the presidency to commit countless economic atrocities against the people.
“The government does not belong to any single individual or group of privileged persons. It is a thing of shame that some people abuse opportunities of being in power to swindle the people. The antics of some of the people involved in the NNPC scandal, shows that they are not remorseful even in the face of glaring revelations. The President should ensure that justice is done in this matter by ensuring that all those involved in the scandal face the wrath of the law,” he posited.
In his view, a university teacher, Dr. Steve Wodu, expressed disappointment over the shocking revelations of unethical practices in the NNPC.
Dr. Wodu, an environmental sociologist and senior lecturer in the University of Port Harcourt, said the president should be cautious against those running a parallel regime while disguising as his confidants but bent on imposing their self-serving motives on the people.
He said: “the NNPC’s scandal was a manifestation of the gold digging experiments of some self-appropriating public officials who hide under political cover-ups to milk the nation dry.”
Dr. Wodu, who described the NNPC as a major source of Nigeria’s economic prosperity, called for the review of the corporation’s act to serve its specific objectives and not to be a conduit pipe for self appropriation of tax payers money.
Popular radical lawyer and social crusader, Femi Falana in his own reaction to the NNPC scandal has called on the President to relieve himself of the ministerial position as head of the petroleum ministry, which is already subsumed in his presidential role.
In Falana’s postulation, the President’s role as Minister of Petroleum does not entirely detach him from the festering web of corruption in the NNPC.
He averred that giving up his position as Petroleum Minister will allow room for proper surveillance and Xray of activities in the Nigeria petroleum sector.
Pundits had earlier faulted the nomination of President Buhari’s Chief of Staff, Abba Kyari as a member of the NNPC Board on the ground that Kyari’s appointment was a duplication of duty, as some part of the country especially the South East do not have a representative on the NNPC Board.
Former National Chairman of the Nigeria Bar Assocation, Olisah Agbakoba, has already instituted a suit against the Federal Government for deliberately slighting the South East in the appointment of Board members for the NNPC.
Agbakoba’s argument is that appointments into sensitive positions in Nigeria should be based on the imperatives of justice and not skewed to favour a particular section of the country.
Others view Kyari’s appointment as a common place practice of availing indepth cronies of government unfettered access to juicy positions, on a note of compromise and pacification.
The NNPC ordeal to them is just a tip of the iceberg on the sordid realities in different sectors of the economy, where opportunists count on political patronages and undue concessions to cash in on the economy.
For the Minister of State, Petroleum, Ibe Kachikwu, his ordeal in the NNPC appears to be a reverberative consequence on his earlier deviant posture on the unilateral increase in the pump price of PMS.
His then decision was offensive to the sensibilities of Nigerians but he was undettered and revelled in the impositional act.
It could be recalled that President Buhari’s long standing profile of altruism and zero tolerance for corruption were his greatest political capital, especially during the 2015 general election.
However, his seeming lacklustre attribute to tame the excesses of his acolytes appear to be turning the table against him and his government.
Nigerians believe that the NNPC saga is another test for the president to exonerate himself, by yielding to sober reasoning and save not only the NNPC but the Nigerian state from imminent collapse. Nigerians still await the illusive change that is the hallmark of Buhari’s administration of change mantra.

Taneh Beemene

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Renewable Energy Investment Forum Begins Nov. 25

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Nigeria’s growing solar market will take centre stage as the Renewable Energy Forum Africa (REFA) 2026 holds in Lagos on November 25-26 with the backing of the Rural Electrification Agency (REA).

Organised by the Africa Solar Industry Association (AFSIA) and supported by SolarPower Europe, the forum would bring together investors, developers, regulators, utilities and policymakers at the Radisson Blu Anchorage Hotel, Victoria Island.

The agency said the forum would strengthen partnerships, attract investment and support Nigeria’s clean energy and local manufacturing ambitions.

REA Managing Director, Abba Abubakar Aliyu, is billed to deliver the keynote address at the opening plenary.

The forum would also examine local manufacturing following the launch of Nigeria’s first privately owned 100MW solar module assembly plant in Ibeju-Lekki, Lagos.
The event would also feature B2B meetings, an exhibition and the AFSIA Awards on November 25.
It would be noted that Nigeria is West Africa’s leading solar market, with about 618MWp operational capacity, ranking first in the region and eighth in Africa, according to AFSIA.

The country also leads the continent in mini-grid capacity with 132MWp, while its commercial and industrial (C&I) solar capacity stands at 385MWp.

The market is receiving fresh support through the $750m World Bank-backed Distributed Access through Renewable Energy Scale-up (DARES) programme, targeting 1,350 mini-grids and electricity access for 17.5 million Nigerians.

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CBN Appoints Eight New Pre-shipment Agents For Crude Oil And Gas Exports

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The Central Bank of Nigeria (CBN) has appointed eight pre-shipment inspection agents to monitor crude oil and gas exports, alongside two monitoring and evaluation agents to oversee their activities.
The appointments, announced in a notice signed by Aderinola Shonekan, Director of the CBN’s Trade and Exchange Department, took effect on October 2, 2026, under the Nigerian Export Supervision Scheme.
The notice directs authorised dealer banks, the Nigeria Customs Service, petroleum regulators, terminal operators and oil and gas companies to comply with the revised arrangements.
The CBN assigned the eight inspection agents to specific crude oil and gas export terminals as part of the revised framework.
The allocations are as follows:
Dakee Engineering and Construction Ltd.: LNG, Escravos (Gas), Bonny River Terminal (BRT) and EGTL.
Trexem Energy Services Limited: Egina, Qua-Iboe and Tulja. Geoscape Limited: Escravos, ERHA, Odudu and FSO Cawthorne.
617 Limited: Bonga, Brass, Usan and Eagle.Robinson International Energy Ltd.: Ugo-Cha, Penington, Aje, Ima, Oyo and Nembe. Trobell International Nigeria Limited: Forcados, Bonny and Okwori.
Integrated Shipping Services Nigeria Ltd.: Akpo, Antan, Okoro, Anyala-Madu and Ebok.
Kephren Business Ltd.: Ukpokiti, Utapate, Yoho, Abo, Agbami, Ajapa, Okono, Okwok and additional marginal streams designated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The CBN also appointed two monitoring and evaluation agents, the Q&Q Control Services Limited and the Arlington Securitas Nigeria Limited to oversee the inspection companies.
The Q&Q Control Services Ltd. would monitor 617 Limited, Trexem Energy Services Limited, Geoscape Limited and Kephren Business Ltd while the Arlington Securitas Nigeria Limited would monitor Dakee Engineering and Construction Ltd., Trobell International Nigeria Limited, Robinson International Energy Ltd. and Integrated Shipping Services Nigeria Ltd.
The latest appointments follow previous changes to the CBN’s monitoring arrangements for crude oil and gas exports.
The latest changes update the companies responsible for inspecting export cargoes and the terminals assigned to them. The notice requires the relevant institutions and operators to comply with the new allocations from October 2, 2026.
The appointments also come amid growth in Nigeria’s gas export earnings.
According to the CBN, Nigeria’s gas export earnings rose to $2.53 billion in the first quarter of 2026, reflecting stronger earnings from the country’s natural gas sector and contributing to its external trade position.
The revised inspection arrangements place designated agents in charge of specified export terminals, while the monitoring and evaluation companies oversee the inspection agents’ activities under the scheme.
Recall that in May 2024, the apex bank appointed 11 pre-shipment inspection and monitoring agents under the export supervision scheme.
The government subsequently reviewed the allocation of oil export terminals in March 2025, assigning additional terminals to nine inspection agents appointed under the scheme.
In July 2026, the CBN also appointed Candid Oil Services Limited as the pre-shipment inspection agent for the Taurus Oil and Gas Depot.
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What’s Next for Global Natural Gas Demand?

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The Iran war and the lack of LNG supply from the Middle East have upended forecasts of near-term natural gas demand and import costs.
So far this year, economies in Europe and Asia have relied more on renewables and coal for power generation to offset reduced gas supplies procured at very high prices.
This year’s crisis has prompted governments to rethink energy policies with energy security the top priority, again, after the 2022-2023 energy crisis.
After the decline in global gas demand this year, due to prices at four-year highs, the obvious question for gas market participants is where demand is going after the current crisis ends. Has the second gas crisis in four years permanently undermined expectations of long-term gas demand growth?
Gas cannot be replaced in many industrial processes, yet. Electricity-generating systems in major economies that have relied on gas for power cannot have a reliable electricity supply without gas.
Still, this year and over the past four years, key gas markets in Europe and Asia have seen the share of gas in their electricity mix decline.
The UK, the Netherlands, and Turkey, and major Asian economies China, Japan, and South Korea, have all seen the share of gas-fired electricity drop, according to data from think tank Ember cited by Reuters columnist Gavin Maguire.
The spike in natural gas prices has accelerated Europe’s renewables rollout, which took off in earnest earlier this decade when Russia invaded Ukraine in 2022 and cut off pipeline gas supply to most of Europe. The share of renewables has surged in the EU and the UK in recent years, gradually sidelining gas as the reliable backup fuel rather than the one meeting growing electricity demand.
Globally, “Gas is losing its share in the global power mix as renewables increasingly meet rising electricity demand,” Ember said in a report earlier this year. The analysis found that the share of gas in the global power mix declined for the fifth consecutive year in 2025, despite a small rise in absolute gas generation. Strong growth in clean power, led by solar and wind, met around 68% of global electricity demand growth over the five years to 2025, reducing the need for a significant rise in gas power generation
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According to Ember, 61 out of 124 economies generating electricity from gas had passed their gas generation peak.
However, these countries accounted for around one-fifth of global gas-fired electricity generation in 2025. So the large gas-generating economies, albeit a smaller group, haven’t seen their peak in gas power generation.
The biggest emerging economies, China, India, and Brazil, have actually met their surging electricity demand without turning to gas, Ember noted.
China’s gas share remained close to 3% of the electricity mix in 2025 despite rapid demand growth, while gas power generation in India and Brazil plays a more limited balancing role, the think tank said.
“The economics and energy security case for electricity are increasingly moving in the same direction,” said Malgorzata Wiatros-Motyka, ?Senior Electricity Analyst at Ember.
“As renewables lower costs and reduce exposure to fuel price shocks and geopolitical disruptions, gas is steadily losing the advantages that once made it the default fuel for power system growth.”
The writing may have been on the wall for natural gas producers and exporters if natural gas was only used in power generation.
But natural gas key uses include as feedstock in industrial manufacturing, including cement and steel, as a chemical feedstock for fertilizer, or as the start of the supply chain of manufacturing plastics, paints, synthetic fabrics, and medicine, to name a few.
And then comes the biggest twist in energy and electricity demand forecasts in recent years—the AI boom. Data centers will drive a large part of the rise in global electricity demand, which has returned to growth even in the U.S. and Europe after a decade or so of flatlining. Renewable energy alone will not meet the surge in power demand, and gas will play a key role in America and in most of Asia, where many countries are positioning to become AI and data center hubs.
The biggest LNG producers, exporters, and traders see long-term gas demand growth intact despite this year’s supply shock that is reducing consumption amid spiking prices.
For example, Shell, the world’s biggest LNG trader, said in its annual LNG Outlook 2026 this summer that surging gas demand in South and Southeast Asia would push global LNG demand up by 65% by 2050 from 2025 levels, although growth this year has been stalled by the Strait of Hormuz crisis.
Shell sees global LNG demand increasing to nearly 700 million tons annually by 2050, up by around 65% from the 2025 levels of 422 million tons.
“The conflict created a system-wide shock with disruption cascading across all segments of the economy, but the LNG industry has proved resilient and able to adapt to changing market conditions,” Cederic Cremers, President of Integrated Gas at Shell, commented in the outlook.
“While more investment in both supply and demand infrastructure is needed, the long-term outlook remains strong and LNG will continue to be a stabilising force in the global energy system.”
The International Gas Union (IGU) said in its 2026 World LNG Report in July that “while LNG industry is not immune from the challenges of operating in an era of heightened geopolitical uncertainty, its unique ability to re-distribute large quantities of clean-burning energy from a broadening supply base only enhance LNG’s role as a ‘shock absorber’ to the global economy.”
By; Tsvetana Paraskova
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