Nation
PIA To Open Investment Opportunities In Nigeria-Kyari
Chief Executive Officer, Nigerian National Petroleum Company (NNPC), Mallam Mele Kyari, says the newly passed Petroleum Industry Act (PIA) will attract more business Investments in Nigeria.
Kyari gave this assurance at the ongoing World Petroleum Congress on Wednesday, in Houston, Texas.
Kyari spoke on the theme tagged “ Building Partnership”, which he described as a key aspect of the oil industry’s operating model.
The NNPC boss said: “Our industry has been struggling with the fiscal environment in Nigeria, such as issues surrounding investors investing money and getting it back with returns they deserve and without fiscal stability and sanctity of contracts.
“This is what our new law has done to bring all these in focus to ensure that fiscal environment is very competitive with world class practices that you can find in stability and security.
“ We have a robust partnership today working for us; we are also looking forward to more partnership.
“ Partnerships are now required for energy transition in a way and manner that will secure energy security,” he added.
Kyari said that Nigeria and indeed NNPC had a long history of contributing to global energy security and sustainable partnerships, which is premised on commitments and trust that have been built together with partners for well over 50 years.
He added that Nigeria had renewed its commitment to attracting investments in the oil and gas Industry by the recent passage of the Petroleum Industry Act 2021.
He said that the Act provides the needed improvements in fiscal and governance frameworks, emphasizes transparency and accountability as well as provides a level playing field for all players.
“This is indeed a new dawn for investors as well as our National Oil Company (NNPC), that is transiting to a commercially oriented limited liability company,” he noted.
On challenges, Kyari said today, our industry is faced with a multitude of challenges, one of which is the requirement for a careful balancing of the aspirations of energy transition and energy security.
He said that lack of investment capital for oil and gas is already creating energy crises around the world.
“Who would have ever thought that the price of natural gas could sell as high as 60 dollars per million British Thermal Unit (MMBtu),” he asked.
On energy and economic security, NNPC boss said it was important to pinpoint the fact that the energy and economic security of many resource- rich countries where dependent on the development of their hydrocarbon resources.
He said this was an important source of generating revenue, providing employment and alleviating energy poverty in these countries, while ensuring that the world never lacked the energy it required to function effectively.
According him, compounding result of all these factors is the stifling of supply sources, thereby creating a shortage of sustainable energy supply to the world.
“We have seen how building sustainable partnerships is working in the Industry with one of the recent example being the alliance of Canada’s oil sands producers to achieve the net-zero emissions, forced by the pressure to meet energy transition goals.
“There is a need to ensure sustainable partnerships between the oil and gas industry, host governments, host communities towards ensuring compliance with Environmental, Social, and Governance (ESG) principles.
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Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship
The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.
The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.
Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.
George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.
“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.
“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.
The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.
It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.
Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.
Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.
“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.
The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.
Tonye Orabere
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