Oil & Energy

Nigerian Firm Wins Maiden Shell Global Innovation Outstanding Performance Prize

Published

7 years ago

September 10, 2018

A Nigerian plastic-recycling company has won the maiden Shell Outstanding Achievement Prize in the 2018 Shell LiveWIRE Top Ten Innovators Awards.
The Bayelsa State-based De-Rabacon Plastics came tops in a competition that also saw another Nigerian firm, Alternate Energy Limited, emerge as the second runner-up in the Energy Solutions category to win $10,000 prize money.
The two Nigerian companies are among the Top Ten Innovators named, last week from among 21 entries in a contest which attracted over 11,000 voters from 102 countries.
Speaking at the event in Port Harcourt, General Manager External Relations of Shell Nigeria, Igo Weli said, “This is part of the streak of successes with the Shell Nigeria Live-WIRE programme, coming a year after two of our Nigerian entrepreneurs won in the merit category at the finals in Sierra Leone in 2017.
“Being named as one of Shell LiveWIRE’s Top Ten Innovators showcases the innovative entrepreneurial talent that Nigeria is nurturing on the world stage,” Igo added.
De-Rabacon Plastics is a social enterprise that recycles end-consumer plastics into viable commercial products while Alternate Energy provides solar and wind powered community solutions, including water treatment and off-grid solar farms.
Reacting to news of De-Rabacon’s emergence as a winner, Managing Director of the company, Yolo Bakumor Smith described the LiveWIRE opportunity as life-changing and providing employment and livelihood to over 58 direct and indirect employees and their scores of dependents.
“This is a booster to my dreams and I give credit to The Shell Petroleum Development Company of Nigeria, SPDC, for the opportunity provided to Nigerians to be successful, globally recognised business owners,” Smith said.
In his response, Managing Director of Alternate Energy Limited, Henry Chikogu, described the award as a motivator not only to him and his company but also to other Shell Nigeria LiveWIRE beneficiaries and to prospective participants in the annual programme.
Both Smith and Chikogu will be joining other winners in Kuching, Malaysia in November for the final awards ceremonies.
Emobella Engineering Nigeria Limited and De-rahbs Energy Services, both Nigerian companies based in the Niger Delta were among the Top Ten winners in 2017.
Emobella provides engineering services with a USP of 24-hour availability and high-quality customer service, and De-rahbs Energy installs, services and repairs solar energy equipment, and provides a low-cost solar energy payment plan and training to future engineers and energy entrepreneurs.
Operating in 17 countries, Shell LiveWIRE strengthens local economies across the globe by promoting entrepreneurship and developing entrepreneurs.
Every year the programme supports thousands of individuals to access the knowledge, skills, networks and resources to turn their innovative business ideas into successful enterprises.
Launched in Nigeria in 2003, the programme helps young people explore the option of starting their own business as a real and viable career option, and provides them with training, finance, and business mentorship.
Shell Nigeria LiveWIRE has produced over 6,500 Niger Delta entrepreneurs most of whom are now employers of labour.
Some of the beneficiaries are also given the opportunity to play in SPDC’s supply chain as vendors and are provided with access to growth capital.
In 2014, a special Shell Nigeria LiveWIRE programme for Ogoni youths was launched, the same year another special edition was launched for Niger Delta Youths with disabilities.
The Ogoni Special LiveWIRE is geared towards providing alternative livelihood for the youths of the area and has since produced over 165 entrepreneurs.

Oil & Energy

NERC, OYSERC Partner To Strengthen Regulation

Published

16 hours ago

February 23, 2026

The Tide

THE Nigerian Electricity Regulatory Commission (NERC) has stressed the need for strict adherence to due process in operationalizing state electricity regulatory bodies.

It, however, pledged institutional and technical support to the Oyo State Electricity Regulatory Commission (OYSERC).

The Chairman, NERC, Dr Musiliu Oseni, who made the position known while receiving the OYSERC delegation, emphasised that the establishment and take-off of state commissions must align fully with the law setting them up.

Oseni said that the NERC remains committed to partnering with State Electricity Regulatory Commissions (SERC) to guarantee their institutional stability, operational effectiveness and long-term success.

He insisted that regulatory coordination between federal and state institutions is critical in the evolving electricity market framework, noting that collaboration would help to build strong institutions capable of delivering sustainable outcomes for the sector.

Also speaking, the Acting Chairman, OYSERC and leader of the delegation, Prof. Dahud Kehinde Shangodoyin, said that the visit was aimed at formally introducing the commission’s acting leadership to the NERC and laying the groundwork for a productive working relationship.

Shangodoyin said , the acting members were appointed to provide direction and lay a solid foundation for the commission during its transitional period, pending the appointment of substantive members.

“We are here to formally introduce the acting leadership of OYSERC and to establish a working relationship with NERC as we commence our regulatory responsibilities,” he said.

He acknowledged NERC’s readiness to provide technical and regulatory support, particularly in the area of capacity development, describing the backing as essential for strengthening the commission’s operations at this formative stage.

“We appreciate NERC’s willingness to support us technically and regulatorily, especially in building our capacity during this transition,” he added.

Oil & Energy

NLC Faults FG’s 3trn Dept Payment To GenCos

Published

16 hours ago

February 23, 2026

The Tide

The Nigeria Labour Congress and the Association of Power Generation Companies have engaged in a showdown over federal government legacy debt.

NLC president Joe Ajaero has faulted the federal government’s move to give GenCos N3 trillion from the Federation account as repayment for a power sector legacy debt, which amounts to N6.5 trillion.

In a statement on Thursday, Ajaero said the Federal Government proposed the N3 trillion payment and the N6 trillion debt as a heist and grand deception to shortchange the Nigerian people.

“Nigerians cannot and should not continue to pay for darkness,” Ajaero stated.

Meanwhile, the Chief Executive Officer of the Association of Power Generation Companies, APGC, Dr. Joy Ogaji, said Ajaero may be ignorant of the true state of things, insisting that the federal government is indebted to GenCos to the tune of N6.5 trillion.

She feared the longstanding conflict could result in the eventual collapse of the country’s power.

According to her, the federal government’s N501 billion issuance of power sector bonds is inadequate to address its accumulated debt.

Oil & Energy

PENGASSAN Rejects Presidential EO On Oil, Gas Revenue Remittance ……… Seeks PIA Review

Published

16 hours ago

February 23, 2026

The Tide

The Natural Gas Senior Staff Association of Nigeria(PENGASSAN) Festus Osifo, has faulted the public explanation surrounding the Federal Government’s recent oil revenue Executive Order(EO).

President of the association, Festus Osifo, argued that claims about a 30 per cent deduction from petroleum sharing contract revenue are misleading.

Recall that President Bola Ahmed Tinubu, last Wednesday, February 18, signed the executive order directing that royalty oil, tax oil, profit oil, profit gas, and other revenues due to the Federation under production sharing, profit sharing, and risk service contracts be paid directly into the Federation Account.

The order also scrapped the 30 per cent Frontier Exploration Fund under the PIA and stopped the 30 per cent management fee on profit oil and profit gas retained by the Nigerian National Petroleum Company Limited.

In his reaction, Osifo, while addressing journalists, in Lagos, Thursday, said the figure being referenced does not represent gross revenue accruing to the Nigerian National Petroleum Company Limited.

He explained that revenues from production sharing contracts are subject to several deductions before arriving at what is classified as profit oil or profit gas.

Osifo also urged President Bola Tinubu to withdraw his recently signed Presidential Executive Order to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity, 2026.

He warned that the directive undermines the Petroleum Industry Act and could create uncertainty in the oil and gas industry, insisting that any amendment to the existing legal framework must pass through the National Assembly.

Osifo argued that an executive order cannot override a law enacted by the National Assembly, describing the move as setting a troubling precedent.

“Yes, that is what should be done from the beginning. You can review the laws of a land. There is no law that is perfect,” he said.

He added that the President should constitute a team to review the PIA, identify its strengths and weaknesses, and forward proposed amendments to lawmakers.

“When you get revenue from PSC, you have to make some deductibles. You deduct royalties. You deduct tax. You also deduct the cost of cost recovery. Once you have done that, you will now have what we call profit oil or profit gas. Then that is where you now deduct the 30 per cent,” he stated..

According to him, when the deductions are properly accounted for, the 30 per cent being referenced translates to about two per cent of total revenue from the production sharing contracts.

“In effect, that deduction is about two per cent of the revenue of the PLCs,” he added, maintaining that the explanation presented in the public domain did not accurately reflect the structure of the deductions.

Osifo warned that removing the affected portion of the revenue could have operational implications for NNPC Ltd, noting that the funds are used to meet salary obligations and other internal expenses.

“That two per cent is what NNPC uses to pay salaries and meet some of its obligations.The one you are also removing from the midstream and downstream, it is part of what they use in meeting their internal obligations. So as you are removing this, how are they going to pay salaries?” he queried.

Beyond the immediate impact on the company’s workforce, he cautioned that regulatory uncertainty could affect investor confidence in the sector.

“If the international community and investors lose confidence in Nigeria, it has a way of affecting investment. That should be the direction. You don’t put a cow before the horse,” he added.

According to him, stakeholders, including labour unions and industry operators, should be given the opportunity to make inputs at the National Assembly as part of the amendment process saying “That is how laws are refined,”