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Mobil, Other Oil Firms Not Exiting Nigeria -Kachikwu …As FG Gives Condition For Fuel Subsidy Removal
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, says that no International Oil Company (ICO) is planning to exit Nigeria contrary to reports in some section of the media.
Kachikwu made this known while briefing newsmen after facility tour of ExxonMobil Erha Floating Production Storage and Offloading vessels (FPSO) in Lagos yesterday.
“I have confirmed that it is not true, there are going to be here for a long stay, they will be here over the next 50 years, they are looking for more, they are doing all kinds of things, they just begun the exploration campaign first time in four years because of the new cash call policies we put in place.
“That is not a sign of somebody who is exiting. But different from not exiting is to be aggressive. ExxonMobil needs to be more aggressive in terms of development policies,’’ he said
He added that ExxonMobil needs to be more aggressive with business as Bonga Southwest was almost on FID, Egina just kicked off and Agip is struggling to get Zabzaba online.
“So, I need to see a very robust development,’’ he advised
Mr Richard Laing, ExxonMobil Executive Director, Production commended the minister for making out time to visit the facility and reiterated that the company had no plans to exit Nigeria.
“We are happy with Nigeria, We have our differences, and we don’t agree on everything, we are happy and content. We are delighted over the minister’s visit and we are happy that he has come back to his spiritual home.
“As the minister said, the corporation has been here for many years, we intend to stay, we have ambitious growth programmes to build wealth and grow business to make more profit, key into the gas commercialisation project.
“We fully support what the minister said and we look forward to working with him,’’ he said.
Meanwhile, the Federal Government has given conditions for the removal of subsidy on premium motor spirit, also known as petrol.
The conditions include: provision of alternative cushioning measures mutually agreed between stakeholders to protect the economically vulnerable members of the population.
Finance Minister, Zainab Ahmed, stated this at the press briefing marking the end of the 2019 Spring Meetings of the World Bank and the International Monetary Fund, IMF, in Washington DC, USA, yesterday.
She however said the Federal Government is yet to arrive at such measures.
She said there is no immediate plan to remove fuel subsidy, contrary to speculations that have led to the emergence of fuel queues in some parts of the country.
According to her, “At the IMFC meetings, the Managing Director requested for a mandate to pursue some negotiations with Governors for temporary financing options for ensuring that the Fund remains adequately resourced by maintaining the current resource envelope of the Fund through borrowed resources. This arose partly due to the delay in completing the 15th general review of quotas.
“While Governors endorsed this position, we called for an ambitious timetable for the 16th General Review of quota which should result in increased quota shares for dynamic economies in line with their relative positions in the world economy, while protecting the voice and representation of the poorest members.”
She further called for the normalisation of trade relations among the contending parties and called for concerted efforts to support multilaterism and avoid protectionist sentiments.
She added, “There is no imminent plan to remove fuel subsidy. We are here to discuss with the global community on various policy issues.
“One of the issues that always come up in the report, especially by the IMF as a corporate body is how we handle fuel subsidies. IMF is saying fuel subsidies are better removed so that you can use the resources for other important sectors.
“In principle that is a fact. But in Nigeria, we don’t have plans to remove fuel subsidy at this time because we have not yet designed buffers that can enable us remove fuel subsidy and provide cushions for our people. So there is no plan to remove fuel subsidy.
“We will be discussing with various groups . If we have to, what are the alternatives? We have not yet found viable alternatives . So we are not yet at the point of removing fuel subsidy.
“We also met with the World Bank Power Sector team and discussed the way forward on the Proposed USD1 billion Nigeria Performance Based Loan (PBL). We agreed to bring relevant MDAs together to ensure that we advance this in a timely manner.
“We will also discuss the Country Portfolio Performance of Nigeria which currently stands at $9.8 billion with the Nigerian Country team at the World Bank and how we could manage the portfolio for optimum results.”
The Rivers State chapter of the All Progressives Congress Christian Leaders Forum has expressed strong confidence in the capacity of All Progressives Congress (All Progressives Congress) candidates in the state to deliver effective governance if elected into office in the coming elections.
The State Coordinator of the forum, Archbishop Lucky Aroh, made this known during a breakfast and thanksgiving meeting held in Port Harcourt, where leaders gathered to pray for the stability of the party and the safety of its candidates ahead of the 2027 general elections.According to him, the meeting was convened to seek divine intervention for peace, unity, and security among APC candidates across Rivers State.
“Today we are praying for APC stability in Rivers State and the security of our candidates that have been elected to contest the 2027 elections. It is a breakfast meeting,” Aroh said.
He further expressed optimism that the party’s candidates would not disappoint the people if entrusted with leadership responsibilities.
“They will not fail when elected into office. We are here as fathers of the land to let them know, and I must tell you the truth that these are the authentic people that will do well in Rivers State,” he added.
Speaking earlier, the National Chairman of the forum, Professor Olanrewaju Abraham, commended the Rivers State chapter for organizing the programme, noting that the national body of the forum believes strongly in the power of prayer.
He stated that political leadership provides an opportunity to influence society positively, including advancing moral and spiritual values, while expressing confidence that APC candidates at all levels would emerge victorious in the upcoming elections.
Also speaking, the Rivers State Women Leader of the APC, Hon. Darling Amadi, praised the forum for its commitment to prayers for peace, stability, and the protection of party candidates.
Represented by the Deputy Women Leader of the party in the state, she described the initiative as commendable and urged other political and support groups within the party to emulate the gesture in promoting unity and stability.
By: John Bibor, Menebe Emmanuel & Fortune Paibi
Prominent businessman and philanthropist, Elder Anthony Osagwe-Ogo, was celebrated in grand style as he marked his 70th birthday anniversary, with distinguished Nigerians, business leaders, and golf enthusiasts gathering to honour his remarkable contributions to society.
The colourful celebration took place at the Port Harcourt Golf Club, where friends, associates, and well-wishers converged to pay tribute to the revered elder statesman.
Chairman of the occasion, High Chief (Dr.) Ikenna Okafor, described the celebrant as a detribalised Nigerian whose generosity, humility, and commitment to humanity have earned him admiration across different communities and backgrounds.
According to Dr. Okafor, Pa Osagwe-Ogo’s impact on society and the development of his community remains unparalleled. He noted that members of the golfing community are proud to be associated with a father figure who consistently promotes the welfare and well-being of those around him.
He further stated that the history and growth of the Port Harcourt Golf Club cannot be told without acknowledging the significant role played by the celebrant, whose wisdom, encouragement, and leadership have helped sustain the club over the years.
“We are here to celebrate a man who has impacted humanity positively, a peace-loving individual and an epitome of hope for the younger generation. We pray to emulate his virtues. Today, we celebrate a bridge-builder, a trailblazer, and an iconic leader whose life continues to inspire many,” Dr. Okafor said.
He expressed delight at the large turnout of guests from various walks of life, describing it as a testament to the respect and affection Pa Osagwe-Ogo commands within and beyond Rivers State.
In his response, the celebrant, Pa Anthony Osagwe-Ogo, expressed profound gratitude to God for preserving his life and granting him the privilege of attaining the milestone age of 70.
He also thanked members of the Port Harcourt Golf Club, family members, friends, and associates for identifying with him during the celebration and for their unwavering support over the years.
The event featured the cutting of the birthday cake, presentation of awards to deserving members of the club, goodwill messages, and moments of celebration among guests.
The ceremony was attended by notable personalities from the business community, the golfing fraternity, and other sectors, all of whom joined in celebrating the life and legacy of the respected elder statesman.
Rivers State Governor, Sir Siminalayi Fubara, and the Permanent Secretary of the Rivers State Ministry of Information and Communications, Dr. Honour Kuru Sirawoo, have been honoured with awards of recognition in connection with the 2026 Democracy Day celebrations held in Port Harcourt.
The awards, which formed part of activities marking Nigeria’s Democracy Day on June 12, were formally presented on Tuesday at the Ministry of Information and Communications in Port Harcourt.
Presenting the awards was Hon. Abdul Hameed Oladipupo Alli, popularly known as “Mr. Nigeria,” Publisher of Asiwaju Trumpet Magazine and Achievers World International Magazine.
Governor Fubara was recognised for his efforts in sustaining peace, stability, and a conducive political atmospherJohn Bibor / Menebe Emmanuel / Fortune Paibie in Rivers State. The organisers noted that his administration has fostered harmony and strengthened civic participation across the state.
Dr. Sirawoo, on the other hand, was honoured for his exemplary administrative leadership and significant contributions to effective information management within the Ministry of Information and Communications.
Representing Dr. Sirawoo at the presentation ceremony, Dr. Christian Davies received the award on his behalf and expressed gratitude for the recognition. He described the honour as a reflection of Dr. Sirawoo’s unwavering commitment to professionalism, excellence, and dedicated public service.
Dr. Davies assured the organisers that the award would be formally conveyed to the Permanent Secretary.
The event also featured the presentation of commemorative publications highlighting major governance and civic milestones in Rivers State, including Easter celebrations, Workers’ Day activities, the Governor’s third anniversary in office, and Democracy Day programmes.
Organisers of the awards commended the Rivers State administration for what they described as sustained peace, political stability, and improved civic engagement, noting that these achievements have contributed significantly to the state’s continued development.
By: Jessica Sambol