News

NNPC Targets 1bn Barrels Crude Oil Reserves

Published

8 years ago

July 4, 2018

Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, says the corporation would increase the country’s crude oil reserves by one billion barrels yearly to attain 40 billion barrels by 2020.
Baru gave the assurance during his keynote address titled: “Driving Nigeria’s Oil and Gas Industry Towards Sustained Economic Development and Growth,” at the ongoing 17th Nigerian Oil and Gas Conference in Abuja, yesterday.
He said the corporation was also working towards increasing daily oil production to three million barrels per day (bpd).
The NNPC boss said the corporation would also ensure that the Nigerian Petroleum Development Company (NPDC) grew its production to 500,000bpd of oil and 1.5Bscfd of gas by 2020.
He commended the innovative and bold strides of the organisers of the conference in providing a platform for the interaction and cross fertilisation of oil and gas industry ideas in Nigeria.
Baru said the event had become a household name and hoped that the gains would be sustained.
“The journey has been quite challenging and exciting as well. We have journeyed through hills and valleys, through bumps and stumps; nonetheless, our resilience has ensured that NNPC continues to stand shoulder-high.
“According to him, the corporation’s outlook for 2018 and beyond is to be in the capital market to raise more finance for new oil and gas projects,” said Baru.
He said funds raised would be used to finance projects such as the NNPC/NAOC JV Idu-redevelopment, South Gas Project, North Gas Project and Central Gas Project.
The others are: NNPC/TEPNG JV’s Ikike Project, NNPC/SPDC JV Southern Swamp and Associated Gas Solution Step 2 Project amongst other new projects.
“We intend to sanction the multibillion dollars Bonga South West/Aparo (BSWA) project as soon as we conclude an agreement on the Heads of Terms with SNEPCO on the various pending PSC Arbitration disputes.
“This will jump-start the resolution of all the other Production Sharing Contract (PSC Arbitration Disputes),” he said.
Baru said in terms of gas production, the domestic demand for gas in Nigeria was unprecedented, with a current daily realistic gas demand of 4,000mmscfd.
He added that the figure was expected to grow to about to about 7,500mmscfd in the next five years.
“However, within the next three years, with our Joint Venture partners, we are committed to increasing natural gas availability from the current 1.5bscf/d to about five billion standard cubic feet per day in 2020,” said Baru.
According to him, the government would supply enough gas to generate up to 15GW of electricity to the power sector by 2020 and stimulate gas-based industrialisation.
“We would continue to progress with our seven Critical Gas Development Projects (7CGDP) which has also been established to deliver about 3.5bscfd of gas to the domestic market by 2020.
“Recently we approved $2.8 billion, 614Km Ajaokuta-Kaduna-Kano (AKK) pipeline project as a demonstration of our commitment which anchors on developing structured gas architecture across the length and breadth of Nigeria.
“This trajectory will continue to be our priority in the medium to long-term,” he said.
The NNPC boss said the continued implementation of the gas master plan remained a core focus of the corporation.
He explained that gas pricing had been adjusted to export parity, and legacy debts owed by the various sectors to suppliers were being paid through an intervention fund arranged by the Central Bank of Nigeria.
He said gas supply agreements would continue to be made effective with terms that assured bankability to provide the relevant comfort to the producers.
“The World Bank Partial Risk Guarantee (PRG) would be sustained to provide securitisation of gas revenues. These interventions are boosting confidence in the gas sector.
“On the gas export market, part of our strategic aspiration for gas is to strengthen our footprint in high value gas export through LNG and aim to secure about 10 per cent of global market share of traded LNG.
“On the expansion of our existing 22MTPA NLNG plant, we are at the verge of taking Final Investment Decision (FID) this year for additional 8MTPA NLNG Train 7 Plant,” said Baru.
The Vice- President, Production of CWC Group, Wemimo Oyelane, lauded the contribution of the founder of Nigerian Oil and Gas Conference, late Dr Alirio Parra, towards bringing stakeholders together to discuss issues to move the industry forward.
Oyelana urged stakeholders to continue to contribute to the development of Nigerian oil and gas sector.

News

Cleric Predicts Breakthrough, Warns of Political and Security Challenges in 2026

Published

1 day ago

January 12, 2026

The Tide

The Founder and Senior Pastor of Liberty Hour Ministry, Port Harcourt, Apostle Chikadibia John Wodo, has expressed optimism that 2026 will usher in uncommon breakthroughs and good fortune for Nigeria, particularly in the areas of political, economic, and spiritual development, with Rivers State playing a key role.

Apostle Wodo made this declaration in his special New Year message, where he stated that individuals and forces standing as obstacles to the manifestation of God’s will in the new year would face bitter consequences. He cautioned that corrupt political leaders risk backlash from the very people they govern if they fail to change their ways.

The cleric warned against the escalation of political tension in Rivers State and called on residents and religious leaders to intensify prayers for lasting peace. He also urged Governor Siminalayi Fubara to remain resolute in leadership, reminding him to uphold his vows to God by continually seeking divine guidance in decision-making and governance amid evolving challenges.

Assessing the broader national situation, Apostle Wodo called on Nigerian leaders to repent and govern with a heightened sense of responsibility, noting that the cries and supplications of the masses have drawn divine attention. He further warned of alleged plots to disrupt a smooth democratic transition in 2027 and appealed for prayers to avert such an agenda.

According to him, Nigerians are yearning for genuine socio-economic transformation and freedom from political oppression. He challenged the Independent National Electoral Commission (INEC) to redeem its credibility by ensuring free, fair, and credible elections devoid of undue political interference.

The cleric also predicted that insecurity could worsen in the coming year and warned of the possible emergence of a strange ailment, stressing that Nigeria’s political challenges can only be resolved through equity, fairness, and justice, especially in the treatment of minorities, the vulnerable, and the disadvantaged.

Apostle Wodo further claimed that some clerics and General Overseers have compromised their faith and incurred divine displeasure, calling for sincere repentance to restore their relationship with God. He also advised early preparedness to mitigate natural disasters such as fire outbreaks and flooding, particularly in rural communities.

He concluded by urging Nigerians to remain prayerful, vigilant, and united as the nation navigates the opportunities and challenges of 2026.

News

Ado Royal Family Disowns Alleged Installation of Amanyanabo of Okrika

Published

1 day ago

January 12, 2026

The Tide

The Ado Royal Family of Okrika has firmly disassociated itself from the alleged self-enthronement of Hon. Godknows Tam George as the Amanyanabo of Okrika and Clan Head, describing the action as unlawful, illegitimate, and a threat to the peace of the ancient kingdom.

The family, which described itself as the sole legitimate custodian of the history, traditions, and stool of the Amanyanabo of Okrika, stated that it has not installed any king and has not commenced the formal process for such installation.

This position was contained in a statement jointly signed by Prof. Sotonye Fyneface-Ogan (Ogan Ado Royal House), Alabo Engr. Henry Semenitari Abam (Abam Ado Royal House), and Alabo Prince Oriyeorikabo Fibika (Fibika Ado Royal House). The statement was presented to journalists on Friday at the Nigeria Union of Journalists (NUJ) Press Centre, Moscow Road, Port Harcourt.

According to the statement, the purported action by Hon. Tam George amounts to “a blatant assault on the collective integrity of the Okrika people” and constitutes “a criminal act of impersonation with the potential to destabilize the peace and socio-political fabric of our ancient kingdom.”

The family stressed that Hon. Tam George was never presented as a candidate by the Ado Royal Family and did not undergo any of the mandatory rites, consultations, or confirmations required by Okrika customs.

“The Ado Royal Family has never presented him as a candidate, nor has he undergone any of the prerequisite rites, consultations, or confirmations. His actions are those of a lone interloper, operating in a vacuum of legitimacy,” the statement read.

It further emphasized that the stool of the Amanyanabo of Okrika and Clan Head is a sacred institution rooted in centuries-old traditions and spiritual heritage, not something to be claimed through academic qualifications, political ambition, or personal interest.

Speaking during the briefing, Prof. Sotonye Fyneface-Ogan reiterated that the process of crowning an Amanyanabo is clearly defined and has not yet begun.

“To crown a king, there is a process, and those processes have not taken place,” he said. “We are the chiefs; we are the ones that will be part of the selection. Honestly, we have not started the selection process; we have only begun discussions.”

He explained that during the proper selection process, chiefs supervise nominations from each constituent house, with each house expected to nominate two or three candidates—steps which, he noted, have not been carried out.

“I want to assure the public that none of the Ado family chiefs has given Hon. Tam George any sign of approval,” Prof. Fyneface-Ogan added.

Efforts to obtain the reaction of Hon. Godknows Tam George proved unsuccessful. Repeated attempts through phone calls, text messages, and WhatsApp messages were unsuccessful, as he did not respond as of the time of filing this report.

By: Tonye Orabere

News

PH Traders Laud RSG’s Fire Safety Sensitisation Campaign

Published

1 day ago

January 12, 2026

The Tide

Traders in Port Harcourt, Rivers State, have commended the Rivers State Government (RSG) for its ongoing fire emergency and safety sensitisation campaign across major markets in the state.

Speaking on behalf of traders at Nowa Market, Borikiri Old Port Harcourt Township, the market chairman, Mr. Innocent Chukwuma, praised Governor Sir Siminalayi Fubara for initiating the awareness programme in designated markets and public places.

Chukwuma described the exercise as timely and impactful, noting that it was the first time the Rivers State Government had carried out such a campaign in Nowa Market. According to him, the sensitisation would educate traders on fire emergencies and the necessary precautions to prevent outbreaks.

He urged traders to strictly apply the safety measures taught during the campaign, both during business hours and after closing their shops.

“I want to thank the Rivers State Governor, Sir Siminalayi Fubara, and the Ministry of Special Duties for coming to our aid, especially during this dry season,” Chukwuma said.

“This is the first time we are seeing government presence in our market in this manner. We lack words to thank our God-sent governor, particularly for providing us with fire extinguishers and other firefighting equipment.

“We will do exactly what we have been taught today to ensure there is no fire incident in our market. We will always switch off all electrical appliances before closing for the day,” he added.

Similarly, the Chairman of Mile 3 USTRE Modern Market, Mr. Gift Nkesi Benjamin, applauded the state government for the distribution of fire extinguishers and other fire safety equipment.

“We will adhere strictly to the safety guidelines and instructions given to us today to ensure there is no fire outbreak in our market,” Benjamin stated.

“On behalf of Mile 3 USTRE Modern Market, I sincerely thank the Rivers State Government and the Ministry of Special Duties for bringing this important campaign to our market.”

At Rumuwoji Market (popularly known as Mile 1 Market), the Chairman, Chief Hon. Godpower O. Wobo, also expressed gratitude to the state government for the sensitisation exercise. He assured that traders would comply fully with government directives to prevent future fire incidents.

Responding on behalf of Governor Siminalayi Fubara, the Permanent Secretary of the Ministry of Special Duties, Mr. Sokari D. P. George, thanked the traders for their cooperation and warm reception.

He emphasised that safety remains paramount, especially during the dry season, and urged traders to be cautious in their daily activities.

Mr. George disclosed that the theme of the 2025 fire safety campaign is “Controlled Fire Is a Friend, Uncontrolled Fire Is an Enemy.”

He cautioned against refuse and bush burning around buildings and warned traders not to store fuel in unauthorized places such as homes, offices, markets, or public buildings.

“Follow all fire safety guidelines and instructions,” he urged.

The permanent secretary also noted that Governor Fubara prefers a zero-fireworks approach during festive periods to ensure public safety, stressing that the government has invested heavily in markets and expects traders to take responsibility for protecting them.

By: Kiadum Edookor