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Petrol Smuggling: FG To Track Trucks, Smugglers

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The Federal Government says it has facilitated the use of a tracking device to track every truck loading petroleum product from any of its depots as part of efforts to nip smuggling in the bud and arrest culprits.
Minister of State for Petroleum Resources, Chief Timipre Sylva, said this at a forum organised by the News Agency of Nigeria (NAN) to gauge the achievements recorded in the oil and gas sector in the last two years.
Sylva noted that a lot had been achieved in the industry but that the activities of smugglers had continued to overshadow the successes especially as it concerned fuel subsidy and the quantity of petroleum products consumed in the country.
“This is one big question that we try to answer ourselves because when we look at the number of load-outs from our depots every day, we know that we don’t have that level of consumption of petroleum products in Nigeria,” he said.
According to Sylva, time has come for the government to track products that go out from its depots to ensure they deliver straight to designated filling stations in the country.
He said the era of smuggling products across the country’s borders was over as it negatively contributed to the high number of litres of petroleum products said to be consumed in the country on a daily basis.
“We have been able to put a tracking system to track the trucks that load from the depots, so that we are sure that when they load products from the depots, they take it straight to the filling stations.
“When you say that Nigerians are consuming 60 million litres, and you look at the number of cars on the Nigerian roads, you will know that those 60 million litres cannot be possibly consumed in Nigeria.
“But we have a situation where our price for products here are cheaper than the price across the border; sometimes the price across the border is double or even more than double our own price here.
“So, it’s an opportunity for profit, and some people will want to take our product and sell it across the border to make extra money.
“That is what has been happening and it’s really distorting our own system here because if you say you are going to be subsidising the product, the subsidy is meant to be subsidising for Nigerians not those outside Nigeria.
“But the way it is now, we seem to be subsidising the whole of Africa, and how can we sustain such a move; that is why the subsidy amount is going up every day,” Sylva said.

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Oil & Energy

Ex-Lawmaker Volunteers For Petroleum Sector Deregulation 

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An ex-lawmaker, Sen. Ben Murray Bruce, has announced that he is willing to serve as a volunteer in deregulating the country’s petroleum sector.
This follows the ex-lawmaker’s faulting of Nigeria losing over N5trilion annually as a result of fuel subsidy.
Bruce, who represented Bayelsa East Senatorial District in the 8th Senate, on his verified Twitter handle, decried what he described as ignorance and ineptitude of government agencies responsible for fuel subsidy.
“We cannot keep losing five trillion naira annually. I am able and willing, and I volunteer myself to lead the team to deregulate our petroleum sector.
“I will execute this flawlessly such that no Nigerian will be on the street protesting.
“The ineptitude and ignorance of the government agencies responsible for this are mind-boggling,” Bruce tweeted.

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Oil & Energy

Stakeholders Urge FG To Shift From Fossil Fuel

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Stakeholders in the extractive industry have said that as a fossil fuel dependent country, Nigeria must develop its own strategy to engage in shifting global focus away from oil.
This was the conversation at a recent one day capacity building workshop for media and Civil Society Organisations in Nigeria, organised by the Centre for Journalism Innovation and Development, through its Natural Resource and Extractive Programme, in partnership with Natural Resource Governance Institute.
The hybrid workshop, themed, “Oil Dependency in Nigeria: Imagining a Future Beyond Oil”, had over 50 participants, including journalists from the extractive sector, CSOs, and social media influencers in attendance.
The workshop, according to the organisers, was geared towards improving the understanding of oil dependency and the nexus with energy transition to better communicate the impact on Nigeria and the Nigerian economy.
Senior Officer, NRGI, Ms. Tengi George-Ikoli, explained that Nigeria was at a critical point in its development, hence as a fossil fuel-dependent country, it is important that Nigeria develops its own strategy to engage the shifting global focus away from oil.
“Nigeria must develop its own medium to long term strategy to mitigate the likely export and government revenue losses from a shrinking market base as these countries look to reducing oil reliance beyond 2030.
“Nigeria must make strategic decisions in the way it spends its limited revenues, take economic diversification more seriously, leveraging regional and global opportunities beyond oil, and including new frontier possibilities available in the green economy”, she said.
Also, Deputy Director, Development Practice, CJID, Mr. Akintunde Babatunde, said as energy transition persists globally, Nigeria as a monolithic fossil fuel dependent economy has to prepare for what the shift to cleaner energy sources means for its economy.
“Data is pointing us to the fact that Nigeria will likely lose a majority of its foreign exchange earnings and revenues for both the federal and subnational government.
“In fact, it is already happening, because Nigeria is at a critical point in its development process, it is important for professionals to discuss the way forward on how the decisions we make as a country are more important now than ever”, he said.
Earlier, the Acting Executive Director at CJID, Tobi Oluwatola, harped on the need for capacity building for the media and CSOs, noting that they are in the best position to enlighten the public from an informed perspective.
“It is time for Civil Society Organisations, journalists, and policy experts to have this discussion, most especially as Nigeria plans to achieve net zero by 2060. There is a need for CSOs to be empowered with the right skills to be able to do the right advocacy and accountability work in Nigeria”, he stated.

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Oil & Energy

Nigeria To Construct Gas Pipeline To Europe Through Morocco

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Nigeria has given the state-run Nigerian National Petroleum Corporation Limited (NNPC) the greenlight to implement a deal on construction of a gas pipeline to Europe through Morocco.
This follows reports of surging demand for African energy supplies from the EU that is seeking to wean itself of dependence on Russian oil and gas.
“This gas pipeline is to take gas to 15 West African countries and to Europe and through Morocco to Spain and others,” said the Minister of State for Petroleum Resources, Timipre Sylva.
“It is only after the engineering design of the pipeline has been made that we will know exactly (what) the cost of the pipeline will be. When that time comes, we will be talking about funding,” he added.
Nigeria is a member of the Opec group of major oil producers and has huge gas reserves – the largest proven reserves in Africa and the seventh largest globally.
On May 30, Tanzania transported 60,000 tonnes of coal to the Netherlands.
Last month, Botswana’s President, Mokgweetsi Masisi, said European nations had “flooded” his country with requests to supply coal.

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