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FG To Establish Oil And Gas Parks In A’Ibom, Bayelsa

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The Federal Government has approved the establishment of oil and gas parks in Akwa Ibom and Bayelsa States.
Minister of State for Petroleum Resources, Timipre Sylva, disclosed this while briefing State House correspondents after the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the Presidential Villa, last Wednesday.
He said the parks, which would cost over N3 billion, were for the production of oil and gas tools.
“Today, in council, the Ministry of Petroleum Resources presented two memos for the establishment of oil and gas parks.
“ Council approved the oil and gas council, one for Akwa Ibom and the other in Bayelsa.
“The oil and gas parks are to support the development and manufacture of oil and gas tools; as some of you know, in some countries, the service sector of the oil industry is sometimes even bigger than the oil industry itself.
“Unfortunately, in Nigeria, that sector has not grown so much; this administration is really committed to developing the service sector and that is why the oil and gas parks are being built,’’ he said.
Sylva said that the parks would create up to 1000 additional jobs as well as improve the security of the Niger Delta.
On her part, the Minister of State for Transportation, Gbemisola Saraki, said that FEC also approved the purchase and installation of 300 buoys on the River Niger for the inland waterways.
She said that the approval, which was in the tune of N581 million was a repeat procurement because the first one was done in 2017/2018.
Saraki said that the first approval was from Baru to Onitsha while the latest was from Onitsha to Lokoja.
“It is large; this much more; this is 300 bouys; that was 200 bouys; it is to ensure that our waterways are navigable for all the vessels to go through.
“It was important Council appreciated the importance of safety of lives and property.
“It is going to be a six-month contract that will generate approximately between 100 and 120 direct new jobs and various indirect jobs because you know these buoys float.
“They have to actually cast and have concrete base that they sit on top of; so that is the aspect that is going to generate the new direct employment.
“Obviously, it opens up the area; it is part of the programme of the President to have the infrastructure system in Nigeria improved and strengthened because that is how to generate wealth for everybody,’’ she said.

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Tincan Drugs Import: Customs, NSA Set To Unravel  Cabal Behind The Import

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The Comptroller General of the Nigeria Customs Service, Bashir Adewale Adeniyi MFR, has said the Service in collaboration with the Office of the National Security Adviser ONSA, has commenced deep investigation into the illegal importation of large number of arms comprising pump-action guns at the Tin Island Port, Lagos.
The CGC flagged on his immediate right by an official of the National Agency for Food, Drug Administration and Control NAFDAC, and officials of the National Drug Law Enforcement Agency NDLEA, displaying some of the seized cookies laced with cannabis before newsmen.
The guns, concealed in a 20-foot container were brought in as completely knocked down CKD, parts, loaded in cartons. At the time of filing this report, operatives of the Enforcement Unit of the Tin Can Island Command of the Service have successfully assembled a total of 140 pieces of the guns, while several cartons of the CKD parts have not been assembled.
The Comptroller-General, who briefed newsmen in Lagos, Thursday, also disclosed that in a separate operation, operatives of the Command, acting on credible intelligence intercepted two 40-foot containers laden with cannabis-infused products, which include cookies concealed among imported goods.
“Before I left Abuja today to attend this media briefing, I had to meet with the National Security Adviser and I have briefed him accordingly and he has assured that his office will do everything possible in assisting us unravel the motive and other factors that may informed the illegal importation of this amount of arms, especially at a time when the country is planning to go into a major election”, he said.
The CGC, who gave vivid description of how the illegal importations were seized in two separate operations said: “On July 8, 2026, container no. TEMU 184536/9 arrived at Tin Can Island Port aboard MV VELIKA and was flagged through our intelligence-driven risk management system for enhanced monitoring.
 Acting on credible intelligence, officers placed the container under surveillance and subsequently subjected it to a detailed physical examination at the Customs Enforcement Station.
“The examination uncovered concealed crates containing knocked-down components preliminarily identified as JoJeff pump-action rifles, which are currently undergoing detailed technical examination and inventory to determine the exact quantity and configuration.
“As at the time of putting down these reports, 140 pieces of double-barrel Jojef pump-action rifles have been discovered. The counting is still in progress, and as soon as that is completed, we will give the exact figures in items of the total number of guns involved.
“Like I mentioned earlier, working with the Office of the National Security Adviser, we have commenced investigations, which extended beyond the seizure, and on July 31, 2026, one suspect was arrested at Migfo Bonded Terminal while attempting to facilitate the release of the container.
“Documentary evidence, financial records, and telecommunications analyses have established the suspect’s connection with the named consignee, including a ?10,000 payment received from a company account linked to the consignee on the day of his arrest.
Two suspects are currently in custody assisting investigators, while another principal suspect remains at large and is being actively pursued.”
The CGC, who also gave details on the seizure of the cannabis-infused cookies, disclosed that officers intercepted two 40-foot containers conveying the illicit cannabis-infused products concealed alongside two used vehicles, two used pumping generators, rolls of blue polypropylene spunbond fabric, new tubular batteries, and thunder arrester cables.
Details of the seizure show that 109 cartons of Delta-8 cannabis-infused pre-roll cookies containing a total of 8,720 pieces; weighing17.44kg and valued at ?308.8million, 125 cartons of Delta-8 cannabis-infused gummies containing 740 packs weighing 515.2kg with a street value put at ?40.7million and another 73 cartons of cannabis-infused cookies containing 442 packs, weighing 309.4kg valued at ?24.3million, all totaling N373.8million in terms of street value.
While assuring Nigerians that the Service under his watch is leaving no stone unturned in protecting them, noted that the seizures demonstrate the growing sophistication of transnational criminal networks that exploit legitimate trade channels to traffic illicit weapons and dangerous narcotic products.
“However, these operations underscore our unwavering commitment to protecting Nigeria’s borders from prohibited imports that threaten national security and public health; and also reaffirm the effectiveness of the Nigeria Customs Service’s intelligence-driven enforcement strategy, advanced risk profiling systems, and strong inter-agency collaboration.
“The Nigeria Customs Service will stop at nothing to identify, track, arrest, and prosecute every individual connected to these criminal enterprises. Nigeria’s seaports will never be safe havens for the trafficking of illicit weapons, narcotics, or other prohibited goods.
“This is a very delicate period for Nigeria. We are about entering a major election cycle and we know that at this period, men of the underworld will want to use our borders, our seaports, our airports to bring in items like these.
“All hands must be on deck and this is why we invite Nigerians to join us. When you have any information or intelligence that could lead us to these criminal people, do not hesitate to contact us.
“We are going to redouble our efforts to ensure that we do not allow them to succeed in their wicked enterprise. While they make attempts, they will want to find accomplices within the Customs and other security agencies.
“I want to assure Nigerians that Nigeria Customs Service will not have any of these people who will want to serve as accomplices or use their positions to influence the importation of goods that will threaten our peace and security and threaten the credibility and peaceful conduct of the next general election”, he warned.
By: Nkpemenyie Mcdominic, Lagos
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Navy Intercepts 17,000 Litres Of AGO, Recovers 24,000 Litres Of Stolen Crude In Rivers

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The Nigerian Navy has intensified its crackdown on crude oil theft and illegal bunkering under Operation DELTA SENTINEL, disrupting an emerging illegal oil operation and intercepting a speedboat conveying about 17,000 litres of suspected illegally refined Automotive Gas Oil (AGO) in Rivers State.

The Navy also recovered approximately 24,000 litres of product suspected to be stolen crude oil and dismantled facilities believed to have been established for crude oil theft in separate operations in the state.

A statement signed by the Director, Naval Information, Navy Captain Abiodun Folorunsho, personnel of the Forward Operating Base (FOB), Bonny, acted on credible intelligence about attempts by suspected criminals to establish illegal connections to oil infrastructure in the Bethel Community axis of Bonny Local government area.

Folorunsho said the operation led to the discovery of an illegal refining site, two pits containing approximately 24,000 litres of suspected stolen crude oil and extensive hoses believed to have been installed to facilitate crude oil theft.

He said the intervention disrupted the emerging criminal operation before it became fully operational, denying the suspected economic saboteurs the infrastructure required to sustain their activities and inflict further losses on the nation.

In a separate operation, personnel of Nigerian Navy Ship (NNS) PATHFINDER intercepted a speedboat conveying approximately 17,000 litres of suspected illegally refined AGO along the Onne-Okrika waterways.

According to the statement, the recovered speedboat and suspected illegally refined petroleum product were handled in accordance with established anti-crude oil theft procedures, while efforts were ongoing to identify and apprehend those connected with the illegal activity.

Folorunsho said the operations demonstrated the Navy’s sustained commitment to disrupting the illicit petroleum supply chain, denying economic saboteurs freedom of action and protecting Nigeria’s critical oil and gas infrastructure from criminal exploitation.

He added that the Navy would continue to conduct intelligence-driven operations under Operation DELTA SENTINEL to dismantle illegal refining infrastructure, combat crude oil theft and illegal bunkering, protect the maritime environment and safeguard Nigeria’s economic interests.

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NCDMB, BOI Unveil $100m Nigerian Content Equity Fund  …Set To Invest $5m In Oil Firms

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The Nigerian Content Development and Monitoring Board (NCDMB), and the Bank of Industry (BOI), Friday in Lagos inaugurated the Investment Committee of the Nigerian Content Equity Fund (NCEF).
The NCEF according to the Directorate of Corporate Communications of the Board is a groundbreaking $100 million financing product designed to avail long-term financing to service companies and provide access to funds in exchange for equity rather than the traditional debt instruments.
In his remarks at the inauguration ceremony of the Committee, Executive Secretary of the NCDMB, Engr. Felix Omatsola-Ogbe tasked the investment committee to carry out rigorous due diligence on every company seeking support and ensure that the objectives for which the Fund was established are fully achieved.
He said the Equity Fund must never be mistaken for a grant, stressing that beneficiaries are expected to deploy the capital judiciously and repay in accordance with the terms of the investment.
He urged the committee to ensure that only credible people with viable businesses benefit from the scheme.
“Our top priority should be identifying people who will use the Fund properly and, most importantly, return our funds back to us so that we can continue the programme for other deserving beneficiaries,” he said.
A statement from the Board’s Corporate Communications Division said the NCEF was inaugurated as a new financing solution to the Nigerian oil and gas service sector, and is also expected to accelerate local content growth.
According to the Boards Division of Corporate Communications, the underlying goal of the NCEF is to reduce per-unit cost of oil and gas products and services locally, create an additional source of income for the Board and play a catalytic role in attracting other investors and lenders to financially viable organizations.
“By providing access to equity financing, the NCEF will enable service companies to expand and increase their market share, which will contribute to the growth of the Nigerian oil and gas industry.
 “The Fund size is $100million, while the obligor limit is $5million. The Fund is provided by the NCDMB, while the Bank of Industry serves as the Fund Manager.
“The target beneficiaries are oil field service companies, manufacturers connected to the oil and gas sector, fabrication yards, and connected sectors, with the primary goal being to promote economic growth, job creation, and wealth creation in Nigeria”, the NCDMB said.
The Board added that the impact of the Fund on oil and gas projects could potentially create an estimated 12,500 direct jobs and 7,000 indirect jobs, stating that the inauguration of the investment committee marks another milestone in the evolution of the Nicetizn Content Investment (NCI) Fund which is a flagship intervention established under section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act to bridge financing gaps confronting indigenous oil industry firms.
A Statement from the NCDMB’S Division of Corporate Communications further said that while the five NCI Fund products managed by the BOI and two products managed by the Nigerian Export-Import Bank (NEXIM) have provided debt financing to qualified service companies over the past decade, with loans lasting five years and interest rates of 8%, the Equity Fund has carved a new niche.
Meanwhile, Managing Director of the Bank of Industry, Dr. Olasupo Olusi has described the inauguration as a major milestone in the consummation of the NCI Equity Fund, noting that the initiative represents the next phase in the long-standing collaboration between BOI and the NCDMB.
According to him, the partnership, which has lasted for nearly a decade, began with the administration of the US$350 million Nigeria Content Intervention Fund, through which hundreds of indigenous oil and gas companies have accessed financing to expand their operations.
He noted that the introduction of an equity financing window addresses an important gap in the industry’s financing architecture.
“The next step, which I am very impressed with and very thankful to the NCDMB for thinking through with BOI, is the need to fill the finance gap with equity,” he said.
According to him, equity financing offers an entirely different class of financial instrument capable of supporting businesses that may not yet qualify for conventional debt facilities, expressing confidence that the initiative would attract additional investment into Nigeria’s oil and gas sector while strengthening indigenous participation.
Giving further insight into the fund, the Group Head, Equity Investments at the Bank of Industry, Mr. Chike Chukwuelu, explained that the Equity Fund addresses what industry experts describe as the “missing middle.”
According to him, many indigenous businesses struggle to secure senior debt because they lack the level of collateral demanded by commercial lenders, despite possessing viable businesses with strong growth prospects.
Chukwuelu said the equity structure would also enable the fund managers to maintain closer oversight of beneficiary companies, helping them strengthen governance, improve operations and evolve into sustainable businesses.
In his remarks, Senior Technical Adviser to the Executive Secretary, Engr. Austin Uzoka, observed that the Equity Fund represents an opportunity to accomplish what previous financing interventions could not fully achieve.
“The striking thing is that the fund is about doing things the other funds have not been able to accomplish.” He said
 The Tide gathered that the committee’s responsibilities are to provide strategic oversight for the Equity Fund, ensure prudent investment decisions and build a portfolio of companies capable of growing into major industry players.
Ariwera Ibibo-Howells, Yenagoa
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