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Eni’s Onshore Assets Sale To Oando Attracts Controversy

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3 years ago

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There have been controversies over the sale of Eni’s subsidiary, Nigerian Agip Oil Company Limited (NAOC) oil assets to Oando Oil Limited (OOL).
The assets comprise Oil Mining Lease, OMLs 60, 61, 62, and 63.
According to The Tide’s source, the controversy is based on the fact that ExxonMobil was previously stopped from selling its entire share capital of Mobil Producing Nigeria Unlimited, (MPNU) to Seplat Energy Plc.
Meanwhile, industry leaders, who bared their minds on the issue in different interviews, said they expected similar trend as the government had agreed that such assets should be utilised to enable the Nigerian Petroleum Development Company (NPDC), a fully-owned subsidiary of NNPC Limited, build its capacity to becoming a major exploration and producing company.
They said they were shocked to note the smooth sailing of the Eni/Oando deal, thus provoking Seplat Energy and other parties.
Speaking on the issue, the National President of Oil and Gas Service Providers Association of Nigeria, Mazi Colman Obasi, said, “I cannot understand why the two cases are treated differently. I expect the government to be fair and transparent to all investors”.
In the same vein, Lead Promoter, EnergyHub Nigeria, Prof. Felix Amieyeofori, said, “This is a new government that is making efforts to attract private investors and needs to send the right signals to the global community.
“It should also be known that Oando had successfully acquired Eni’s assets before for development. There seems to be trust that informs the current transaction by Eni”.
Already, the NNPC Limited has clarified that it is not against the sale of shares by NAOC to Oando Oil Limited.
NNPC’s Chief Corporate Communications Officer, GarbaDeen Muhammad, in a statement obtained by the source, said, “It has come to our notice that a routine communication in the form of a letter written by NNPC E&P Limited (NEPL) to its JV Partner, Nigerian Agip Oil Company Limited is being interpreted to suggest that NNPC Ltd is opposed to the sale of NAOC shares to Oando PLC. This is not correct.
“NNPC Limited wishes to state that the letter was sent by NEPL, an NNPC Ltd. subsidiary. However, nowhere was opposition or objection to the transaction in the letter.
“NEPL is only drawing attention to certain important clauses in the Joint Operating Agreement between it, NAOC and OOL; which might have been overlooked in error. Adherence to those clauses will protect the transaction, now and in the future”.
In a letter to the Managing Director of NOAC and the Chief Operating Officer of Oando Oil Limited, NNPC Limited, had said, “Our attention has been drawn to various reports circulating on different media platforms concerning an alleged divestment of NAOC participating in the OML mentioned above to Oando Oil Limited.
“A duly signed press statement allegedly emanating from OOL dated 4th September 2023 affirms that NAOC has assigned its entire 20 per cent participating interest in the said OMLs to OOL.
“While we are yet to confirm the authenticity of the purported divestment, we would like you to note that the purported divestment, if true, would have the following far-reaching contractual/legal implications in relation to the Joint Operating Agreement (JOA) dated July 1991 governing the operations of NAOC/NEPL/OOL joint venture:
“It is imperative for you to know that failure for you to obtain NEPL’s prior written consent and approval with regards to the alleged transfer of your interest in the joint asset constitutes a grave breach of the terms of the JOA and NEPL’s reserves its right in relation to the said breach- including NEPL’s entitlement to invalidate the purported assignment to OOL.
“Please note that as holders of 60 per cent participating interest in the NEPL/NAOC/ OOL JV, we are indeed concerned that the entire purported assignment was executed without due compliance with the terms of JOA. We expect that all parties to the JOA will comply and observe the terms of the JOA”.
Meanwhile, the management of Eni’s subsidiary, NAOC, has concluded plans to engage labour over the sale of the assets this week.
The Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN) had ordered the withdrawal of its members from all offices and field locations of Eni, over the sale deal.
However, the source’s checks indicated that the two parties have resolved to meet this week in order to allay the fears of workers, who are sceptical that the sale of the assets would culminate in retrenchment.
There are indications that the workers are scarred that the deal would lead to their retrenchment because they were not sufficiently carried along, hence the management has decided to engage them in order to restore harmony and enhance operations.
Chairman of PENGASSAN, Agip Group, Eyong Survival, had said, “The Managing Director of Eni Nigeria, Mr. Fabrizio Bolondi, invited the workforce to a meeting on September 4, 2023, and callously informed us that Eni has sold its 20 percent equity share in NAOC JV, comprising OML 60, 61, 62 and 63, covering parts of Rivers, Delta, Bayelsa, and Imo States to Oando Nigeria Limited, transferring all its assets and liabilities to Oando without recourse to outstanding financial obligations to the workers, vis-a-vis their employee savings plan, pension, and gratuity”.
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RIVERS NUJ BACKS BONNY TOURISM, TASKS MEDIA ON DEVELOPMENT REPORTING

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6 days ago

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August 17, 2026

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The Nigeria Union of Journalists (NUJ), Rivers State Council, has thrown its weight behind efforts to reposition Bonny Island as a major tourism destination, urging journalists to move beyond crisis reporting and deliberately promote the state’s investment, tourism and development potentials.
The Chairman of the NUJ Rivers State Council, Comrade Paul Bazia, said this at a press briefing held at the Ernest Ikoli Press Centre in Port Harcourt, recently.
Bazia said Rivers State was endowed with enormous natural and economic resources, stressing  the media must gradually shift its attention from conflict-oriented reporting to development communication capable of attracting investors, tourists and other economic opportunities to the state.
He said the tourism potential of Bonny Local Government Area was enormous and could compete favourably with attractions found in Caribbean countries, urging journalists to tell the story of Bonny in a way that would attract global attention.
“If we don’t blow our own trumpet, people won’t know that we have our trumpets. Most of the people that travel to the Caribbean, Bonny is more than that. Bonny is more than just the hydrocarbon headquarters. Bonny is beautiful. Bonny environment is therapeutic,” he stated.
The NUJ chairman stressed that tourism could provide a sustainable source of income without the environmental consequences associated with some extractive economic activities, adding that the media must help to market the tourism products available in Rivers State.
“Our role is to ensure that our stories market the product that we have,” Bazia said, urging journalists across the state to consciously promote its tourism and investment opportunities.
He warned that failure to develop and promote tourism destinations such as Bonny could contribute to economic stagnation and insecurity, stressing that businesses and communities would ultimately suffer where legitimate economic opportunities were neglected.
“It is better for us now to get into it and sell the product that we have so that it will be a win-win for everybody,” he added.
Also speaking, the President of the Bonny Chamber of Commerce and Executive Director of the Discover Bonny Initiative, Mrs. Constance Nwokejiobi, Ph.D., said the initiative was a three-year strategic programme designed to transform Bonny Island into a premier tourism destination.
Nwokejiobi disclosed that Bonny Island Tourism & Investment Summit 2026, scheduled for August 18 to 20, would feature a Tourism Concierge Platform, multi-tier partnership arrangements ranging from Platinum to Community Tourism levels, as well as a privately driven Tour
She stressed that sustainable tourism could not depend solely on government, but required entrepreneurship, private investment and strategic partnerships, noting that Bonny already contributes an estimated four per cent of Nigeria’s national GDP, largely through oil and gas, while efforts were underway to develop a second and more sustainable economy based on tourism, heritage and hospitality.
Nwokejiobi said the initiative enjoyed strong support from His Majesty King Edward Asimini William Dappa Pepple III, Perekule XI, Amanyanabo of Grand Bonny Kingdom, who, she noted, had consistently promoted the island’s rich heritage and hospitality potential alongside its energy and industrial strengths.
She called on Nigerians to embrace domestic tourism by visiting Bonny and also invited international visitors and investors to discover the island as an authentic West African destination.
By: King Onunwor
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Jonathan, Diri, Others Laud Firm’s Milestone in Bayelsa     …Says Project Will Drive Industrialisation, Create Jobs

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6 days ago

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August 17, 2026

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Nigeria’s ex-First lady, Dame Patience Jonathan, Governor of Bayelsa State, Senator Douye Diri, and the Managing Director of the Niger Delta Development Commission(NDDC), Chief Samuel Ogbuku, have commended a Bayelsa-based firm, Azikel Group for its commitment towards industrialising the state and the Niger Delta region.
They spoke while inspecting the Crude Distillation Unit (CDU) and other facilities recently at the Azikel Refinery in Obunagha Community of Yenagoa Local Government Area of the state.
They pledged continued support for the successful completion of the multi-billion naira refinery project.
In his remarks, Governor Diri represented by his deputy, Dr Peter Akpe, expressed satisfaction with the progress made so far by the company, describing the refinery project as a major step towards industrialising the state, creating employment and opening new economic opportunities for the people.
He congratulated the President of the Azikel Group, Dr Azibapu Eruani and his team on the successful procurement of the CDU, which is the most critical component of a refinery, describing the feat as a significant milestone towards completing the project.
He said industrialisation remains an integral part of his Prosperity Administration’s agenda, noting that government’s responsibility was to create an enabling environment for businesses and investments to thrive.
According to him, the state government’s ongoing road projects were designed to improve connectivity and provide easier access to industrial investments, including the refinery.
The governor urged Bayelsans to take advantage of the opportunities that would emerge from the project, particularly employment and skills development, and warned the people against commercialising  opportunities meant for them.
“The Prosperity Government, which is the agenda that we propagate, has industry and industrialisation as one of the major things. As a government, our business is to provide or enhance ease of doing business.
“Our universities have got graduates that can fit into most of the levels that will be available”, he said.
The State Chief Executive urged the people of the local communities to develop the capacity to participate meaningfully in the investment.
Also speaking, former First Lady, Dame Patience Jonathan, applauded the Bayelsa State Government for supporting the project, particularly through infrastructure development and improved road access to the refinery.
She said the investment was significant because Bayelsa had traditionally depended heavily on government, stressing that sustainable development depended more on investments that create wealth than totally relying on monthly salaries and allocations.
Dame Jonathan described the refinery as an investment that should receive the collective support of government, communities and other stakeholders, saying its benefits would extend beyond the company to the wider economy.
According to her, “It is not the amount of money you get at the moment, but the investment you put on ground that matters.
What we are doing is not for you alone; it is for all of us.”
In his remarks, the Managing Director of the Niger Delta Development Commission, Dr. Samuel Ogbuku, stressed that the refinery would have a multiplier effect on Bayelsa’s economy, particularly through job creation and increased business activities.
Dr. Ogbuku maintained  the project could also  boost traffic at the Bayelsa International Airport by attracting investors, contractors and other business interests into the state.
The NDDC helmsman stressed  the need for Bayelsans, particularly young people not to be spectators to the investment but rather prepare and position themselves to benefit from the opportunities it would create.
He also lauded the state government for improving road access to the refinery, saying the infrastructure had helped to make the investment more accessible and demonstrated that the state was preparing for the economic opportunities associated with the project.
On his part, the President of Azikel Group, Dr. Azibapu Eruani, described the project as a major industrial milestone for Bayelsa and Nigeria, saying the refinery had reached a critical stage with the arrival of the CDU.
He disclosed that the refinery, with a capacity of 25,000 barrels per day and an investment value of about one billion dollars, would produce petrol, diesel, aviation fuel, kerosene, LPG, naphtha and heavy fuel oil.
Dr. Eruani said the arrival of the CDU represented the culmination of eight years of work and marked a significant step towards actualising the refinery project.
He explained that the CDU took more than three years to build in South Korea before being transported to Nigeria on a specially chartered vessel.
Chairman of the Bayelsa State Traditional Rulers Council, King Bubaraye Dakolo, former Chief Operating Officer, Refinery and Petrochemical of the NNPC, Mr. Mustapha Yakubu, among other dignitaries also delivered goodwill messages at the event.
By: Ariwera Ibibo-Howells, Yenagoa
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AKG To Purchase More Aircraft —-Targets 10 Fleets this Year

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6 days ago

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August 17, 2026

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The Akwa Ibom State Government has announced plans to expand the fleet of its state-owned airline, Ibom Air, with the acquisition of an Airbus A220-300 aircraft.
The Commissioner for Information, Dr Aniekan Umanah, disclosed this to newsmen recently in Uyo, saying the state government would travel to Montreal, Canada, to finalise documentation for the purchase.
Umanah said the aircraft is expected to arrive at the Victor Attah International Airport on August 30, 2026, bringing Ibom Air’s fleet to 10 aircraft.
He described the planned acquisition as a milestone for the state’s aviation sector, adding that it supports the government’s ambition of positioning Akwa Ibom as a major aviation hub for business, tourism and investment under its ARISE Agenda.
The commissioner also identified tourism as a major driver of the state’s economy outside crude oil revenues, saying the government remained committed to developing the sector.
He said the expansion of Ibom Air would improve connectivity and create opportunities for young people seeking careers in aviation, while strengthening links for businesses and families.
According to him, the arrival of the Airbus A220-300 would further demonstrate the state government’s commitment to improving connectivity and supporting economic growth.
Apapa Customs Command Regs N323 Bn Revenue In July
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Nkpemenyie Mcdominic, Lagos
The Nigeria Customs Service (NCS), Apapa Area Command, has posted an unprecedented revenue collection of ?323 billion in July 2026, the highest monthly figure ever recorded by the Command.
The landmark performance further underscores the strong results achieved under the leadership of Comptroller Emmanuel Oshoba, who earlier guided the Command to another record haul of ?304 billion in October 2025.
Comptroller Oshoba  disclosed this  during the monthly meeting with Deputy Comptrollers of Terminals and Unit Heads held on Tuesday, 11 August 2026.
He attributed the record collection to the combined impact of policy support, operational reforms and improved compliance across the Command.
In a press statement issued by the Public Relations Officer of the Command, Chief Superintendent of Customs (CSC) Isah Sulaiman, the Customs Area Controller specially commended the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR PhD and the Service management team for their commitment to the ongoing modernisation of the Nigeria Customs Service.
“We recognise and acknowledge the CGC’s devotion and dedication to the modernisation project of the Nigerian Customs Service.
“The management team has introduced several innovations that have streamlined our activities and given us clear direction,” he said.
Comptroller Oshoba noted that the reforms are already delivering measurable results. He highlighted the improved performance of the B’Odogwu system, which had earlier faced challenges but has since been enhanced and is now producing strong outcomes.
He also commended the One-Stop Shop (OSS) initiative for accelerating cargo delivery time and creating a more predictable business environment that encourages legitimate importation.
“Another important development is the Authorised Economic Operator (AEO) framework, which currently has more than 200 beneficiaries. This has positively impacted the revenue profile of the Command,” he added.
Intelligence-driven enforcement operations, he said, have further strengthened compliance where officers and men of the Command have intensified interventions that detect false declarations and ensuring compliance with the Service valuation principles to protect national revenue.
The CAC also specifically credited the enabling business environment created by President Bola Ahmed Tinubu, GCFR, particularly the relative stability in the foreign exchange mmarket.
He explained that a more predictable forex regime has allowed business operators to plan better, make informed decisions and conduct trade with greater confidence while challenging officers to examine their individual contributions beyond routine revenue generation.
“In your Area of Responsibility, you must ask yourself, apart from the normal revenue generated by your Unit, what is your own contribution in terms of intervention? What have I added?” he asked.
The CAC stressed the continued importance of trade facilitation and ease of doing business describing the current operating environment as more predictable and conducive to growth.
He directed that disputes should be resolved promptly where consignments require further scrutiny, officers must follow proper documentation and the Post Clearance Audit (PCA) process.
On stakeholder relations, Oshoba issued a clear directive, “When you interact with stakeholders, let them leave your office with hope rather than despair. As a leader, do not allow anyone who comes to you to depart feeling hopeless or depressed. Give people hope.”
He acknowledged the valuable cooperation of stakeholders and sister agencies, noting that their support has improved compliance and restored greater sanity to the business environment. Officers, he said, must continue to build trust through professionalism, respect and collaboration.
Comptroller Oshoba further urged personnel to uphold transparency and discipline, work smart, remain up to date with evolving digital processes and consult more experienced colleagues when necessary.
He described effective leadership as a collective responsibility, calling on Staff Officers to support Deputy Controllers in reinforcing discipline and fostering a healthy work environment rooted in compassion, empathy, teamwork and genuine concern for the welfare of subordinates.
The CAC called for heightened security consciousness, proper supervision, continuous in-house training and full compliance with approved procedures.
He charged all Units to sustain the current momentum, deepen professional development and remain focused on productivity and service delivery.
By: Enoch Epelle
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