Business
NNPCL Hails PETAN’s Support For Energy Transition
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, has commended PETAN for outstandingly leading the Local Content Agenda in the country and within the continent, urging the body to support the newly transformed private energy company in its energy transition process.
Kyari spoke while receiving PETAN’s top executives led by its Chairman, Nicolas Odinuwe, who paid him a courtesy visit at the NNPC Towers, Abuja, to seek deeper collaboration in business as well as seek support of the NNPCL for her annual flagship programmes, the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC).
The seventh edition of the conference comes up next week in Lagos, while the Nigerian Pavilion at the Offshore Technology Conference (OTC) comes up in May 2023 in Houston.
The NNPCL boss thanked PETAN for the excellent way they have been organising and hosting both events and promised to continue to support the association and its programmes as they have always done.
On the energy transition, he said that it requires all stakeholders to be alive to the responsibility of collaborating to ensure a swift and successful one for the benefit of Nigerians.
“As a newly transformed private energy company”, he said, “our focus is now on the development of gas as a transition fuel, along with its infrastructure, and facilities are being put in place to facilitate production, domestic utilization and supply, both locally and internationally.
“With so much going on, there is tremendous opportunities for business which we, as a company now engage professionals for on the basis of competence and transparency”, he stated.
Kyari added that all challenges currently being faced in the oil and gas industry in the country are being worked on assiduously with the aim of getting them speedily resolved, adding that efforts are already paying off with the returning of investors and acquisition of projects.
Pledging NNPCL’s continued support for the SAIPEC and OTC, Mr. Kyari said that NNPCL “will be at SAIPEC in the most conspicuous stand as a show of support, and as for OTC, we recall assigning PETAN with the organising and hosting rights, and we are happy with what you’ve been doing for NNPCL at the OTC, which is a marked event for attendance for us every year”.
Earlier in his remarks, Chairman of PETAN, Mr. Nicolas Odinuwe, congratulated the NNPCL on its new status as a private sector company and commended its efforts in curbing oil theft and pipeline vandalism and which has seen production and revenue rise, air pollution greatly reduced in impacted host communities.
He also congratulated the NNPCL over recent acquisitions, adding that it would bring about business opportunities for industry stakeholders, especially local service providers, to thrive.
He said, “As a strategic partner, we are here to intimate you officially of our flagship programs; SAIPEC (13-16 February in Lagos) and the OTC (1-4 May 2023 in Houston). Both organised and hosted by PETAN annually and in strategic partnership with NNPC Ltd and the Nigerian Content Development and Monitoring Board (NCDMB).
“Thank you for accepting to attend SAIPEC. These happens to be our funding sources in addition to PETAN membership dues, donations, and sponsorships.
“As part of PETAN’s commitment to ensuring Nigeria’s leading role of championing positive developments in the oil and gas industry across the continent, especially with gas as our transition fuel, the deepening of local content in the energy ecosystem, next week, we look forward to your usual support and participation along with regional leaders from over 20 countries plus 4000 participants and exhibitors at SAIPEC, which we can proudly say, has become the largest oil and gas event in Sub Saharan Africa.
Business
Nigeria’s Gold, Other Solid Minerals Being Stolen – NEC
The National Economic Council has expanded the mandate of its Ad-hoc Committee on Crude Oil Theft Prevention and Control to cover illegal mining.
This is just as the council raised the alarm that the nation’s solid minerals, including gold, are being mined and stolen.
Imo State Governor, Hope Uzodimma, who chairs the committee, disclosed this while briefing State House correspondents after the 153rd NEC meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja, yesterday.
Uzodimma said the expanded mandate is part of the government’s efforts to curb resource theft and increase revenue from Nigeria’s solid minerals sector.
“The National Economic Council Ad-hoc Committee on Crude Oil Theft Prevention and Control, which I chair, presented an interim report today to the Council.
“NEC received our report with satisfaction and expanded our Terms of Reference to now also take interest in solid minerals, because our solid minerals are being mined and stolen and not adding to national revenue,” said Uzodma.
He noted that the expanded role would enable the committee to coordinate with the Ministry of Solid Minerals Development and other federal and subnational institutions to combat widespread illegal gold mining and other forms of mineral smuggling that have deprived the country of much-needed foreign exchange.
“Going forward, our committee, working with other government agencies, will look at how to ensure that the revenue of the country arising from solid minerals like gold and other forms of solid minerals are not allowed to be stolen,” the governor added.
NEC’s Ad-hoc Committee on Crude Oil Theft Prevention and Control was first established under former President Muhammadu Buhari in August 2022.
It was reconstituted under President Bola Tinubu in December 2023 with Uzodinma as chairman.
The committee was initially mandated to address the challenge of crude oil theft and pipeline vandalism.
Its creation followed rising oil theft that had crippled national production and forced international oil companies to shut down key pipelines.
At the time, oil production had crashed to around 700,000–800,000 barrels per day, far below Nigeria’s OPEC quota, costing the government billions of dollars in lost export revenue.
Uzodimma explained that through what he called a “collaborative approach” involving regulators, operators, and the security forces, the committee had helped raise daily crude oil production to over 1.7 million barrels per day in the past 22 months.
The governor stated, “Before May 29, 2023, when President Bola Tinubu was sworn in, our crude oil production was around 700,000 to 800,000 barrels a day.
“Working with stakeholders, the regulators, operators in the industry, and the Navy, we were able to involve all the governors of crude oil-producing states and raise different security organisations.
“You would agree with me that as I speak, daily production is now in excess of 1.7 million barrels a day, and cases of pipeline vandalism and vandalisation of oil assets have also been on the decline.”
The council, he said, was satisfied with the progress and decided to deploy the same model of intergovernmental coordination, private-sector partnership, and multi-agency surveillance to the mining sector, plagued by resource theft.
“We are determined to ensure that crude oil production and gas are properly preserved for the benefit of our citizens.
“Now, with this new directive, we will also protect our gold and solid mineral assets,” Uzodinma added.
Nigeria’s illegal mining economy, particularly in gold, lithium, and other high-value minerals, has grown into a multibillion-naira shadow industry.
According to data from the Nigeria Extractive Industries Transparency Initiative, the country loses an estimated $9bn annually to illegal mineral extraction and smuggling.
The Federal Government has linked several unlicensed mining operations to armed groups in the North-West and North-Central regions, where gold has become a source of illicit financing for bandits.
A 2023 NEITI audit also showed that over 80 per cent of mining activities in Nigeria were conducted informally, without licenses or environmental oversight.
In September 2024, the Ministry of Solid Minerals Development revoked over 900 dormant licences and announced plans for a national gold reserve policy. But enforcement remains difficult, with weak surveillance, limited manpower, and overlapping regulatory mandates.
According to Uzodimma, the expanded mandate aims to integrate the fight against illegal mining into the broader national resource protection framework previously used in the oil sector.
“We have done well,” he claimed, adding, “Among other things, we recommended that NNPC, working with security agencies and their consultants, should strengthen security in all the creeks and extend coverage to offshore regions. That will help in curtailing and supervising illegal entries and exits of vessels into our export terminals. This same spirit will now guide our solid minerals sector.”
The committee is expected to submit its first progress report on the expanded mandate at the next NEC meeting in November.
Business
NIMASA Marks 2025 Customer Week, Pledges Service Excellence
Business
SEME Customs Foils Smuggling Attempt Of Expired Flour, Seizes N2bn Contraband
-
Opinion2 days ago
Fuel Subsidy Removal and the Economic Implications for Nigerians
-
Featured2 days agoFubara Pledges Cleaner Gateway To PH City …Visits New Dumpsite At Igwuruta
-
News2 days agoWAEC Conducts Trial Computer-based Essay Test Ahead Of 2026 Exams
-
News2 days agoFubara Vows Full Support For Independent, Effective Judiciary
-
Niger Delta2 days agoRSG Tasks NIS On Expatriate Attachee Policy
-
Politics2 days agoTinubu Swears In New INEC Chairman
-
News2 days ago
Germany Promises Continued Support For Nigeria’s Anti-terrorism Fight
-
News2 days agoEFCC Arrests 792 Suspects In Investment, Crypto Fraud Crackdown
