Business

TotalEnergies Targets Oil, Gas Industry Growth In 2024 … As NAOC Pledges Support

Published

12 months ago

January 17, 2024

TotalEnergies E&P Nigeria Limited has stated its resolve to revitalise the Nigerian oil and gas industry and grow local content.
The company’s Managing Director and Country Chair, Mr. Matthieu Bouyer, disclosed this, last Thursday, when he led a delegation of the company to visit the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Eng. Felix Omatsola Ogbe, at the Abuja liaison office of the Board.
A statement from the Corporate Communications and Zonal Coordination Directorate of the NCDMB said Mr Bouyer reconfirmed that the company would take the final investment decision (FID) on the Ubeta gas project in 2024, while some other big projects would follow shortly.
The statement reads in part: “The purpose of the visit was to congratulate the Executive Secretary on his appointment and reassure him of Total Energies’ commitment to continue developing oil and gas projects that would deliver value for the country, deepen Nigerian Content, and yield returns to the company’s shareholders.
“Mr. Bouyer affirmed that the company has an outstanding track record in Nigeria and has developed key oil and gas projects in the last 10 years”.
Some of the projects, he explained, were in deepwater, as well as in shallow water, and they created Nigerian Content records, such as the fabrication of six modules of the Egina’s Floating Production Storage and Offloading (FPSO) vessel in Nigeria.
“The MD also confirmed that the company was determined to unlock new projects in Nigeria and solicited the continued cooperation of the NCDMB for accelerated Nigerian Content reviews and approvals.
“He noted that the Ubeta project, which is located at Oil Mining Lease (OML) 58, is an onshore project and is designed to contribute gas to the Nigeria Liquefied Natural Gas (NLNG) plant and meet other domestic gas supply needs”, it stated.
According to the Corporate Communications and Zonal Coordination Directorate of the NCDMB, Mr Bouyer also noted that other projects on the horizon includes the Preowei deepwater project, which lies in OML 130, north of Egina Field, with water depth of around 5,904 feet.
The statement also added: “The Managing Director and Country Chair, Total energies E&P ltd. assured that the company would engage closely with the NCDMB to achieve speedy development of the project, increased crude oil production for the country and revenue”.
In his remarks, the Executive Secretary, NCDMB, Eng. Ogbe assured the TotalEnergies E&P team that the Board would fast-track the approvals needed by the company to deliver speedily on its oil and gas projects.
Referring to the Service Level Agreement (SLA) instituted by the Board with industry’s key stakeholders for shortening the contracting cycle, the NCDMB boss promised that the Board would strive to improve the turnaround time for its approvals on projects.
He further conveyed the commitment of the NCDMB to creating an enabling environment that would attract investments and new projects into the sector, thereby also creating employment opportunities for youths, and addressing insecurity in the polity in line with President Bola Tinubu administration’s “Renewed Hope Agenda”.

By: Ariwera Ibibo-Howells, Yenagoa

Business

USAID Re-emphasizes Agricultural Collaboration With Nigeria

Published

4 days ago

January 10, 2025

The Tide

The United States Agency for International Development (UNAID) has said its programmes operate transparently and align with the Nigeria’s laws.

A statement issued by the US Mission in Nigeria highlighted the significant achievements of its agricultural collaboration with Nigeria, within the week, saying it has supported over five million Nigerian farmers since 2019.

The agency stated that it has boosted food production and strengthened rural economies across the country through its efforts.

“Recent media coverage has presented an inaccurate picture of US agricultural initiatives in Nigeria, such as assisting local agencies’ efforts in strengthening regulatory processes for agricultural biotechnology”, the statement noted.

The US Mission stressed that its agricultural programmes are developed and implemented with Nigerian experts, farmers, and government officials.

USAID explained its initiative’s focus on practical support for farmers, including market access, agricultural training, and research collaboration.

The agency reaffirmed its commitment to ensuring all research findings and programme details remain publicly accessible through official channels.

“Our agricultural partnership represents a shared commitment to addressing Nigeria’s food security challenges through locally-driven solutions”, it stated.

The US Mission also underscored its ongoing consultations with Nigerian stakeholders, maintaining regular dialogue with farmers, experts, and government agencies.

It reiterated its respect for Nigeria’s agricultural sovereignty and traditions.

“We are proud of our record of supporting Nigerian farmers while respecting local agricultural traditions and practices”, it added.

Business

Nigeria’ll Lead In Agricultural Export This Year – Tinubu

Published

4 days ago

January 10, 2025

The Tide

President Bola Tinubu has expressed his administration’s ambition to position Nigeria as a global leader in agricultural exports as a cornerstone of his Renewed Hope Agenda.

He disclosed this recently at the Road to South-South National Convergence for the Renewed Hope Agenda at the Presidential Villa.

Represented by the Minister of Regional Development, Abubakar Momoh, he also unveiled the Earn from the Soil Initiative, which aims to transform subsistence farming into a robust, export-driven sector.

“This initiative is a powerful declaration that we are committed to turning our non-oil resources into collective prosperity. Nigeria will be a leading agricultural export nation”, he said.

The Earn from the Soil project was designed to revolutionise Nigeria’s agricultural landscape, creating export opportunities and ensuring national food security.

According to the President, the initiative will empower citizens to become agents of economic prosperity, transforming local farming practices into global economic drivers.

He also highlighted the untapped potential of the South-South region, known for its rich natural resources and talent, and called for more significant investment in non-oil sectors.

“The South-South is open for business just as the whole of Nigeria is ready for business. We are creating an ecosystem of opportunity, innovation, and sustainable growth”, he said.

Tinubu’s administration seeks strategic support from local and international partners to build a resilient economic ecosystem, moving away from reliance on traditional aid.

Tinubu also emphasised the crucial role of young people and women in driving the initiative’s success.

The President assured Nigerians that his administration remains committed to fulfilling its promise of restoring hope and confidence, with the Earn from the Soil initiative marking a significant step in achieving that vision.

On her part, the Senior Special Assistant to the President on Community Engagement (South-South), Hon Gift Johnbull, has spotlighted the South-South region as a critical hub of untapped economic potential, calling for strategic partnerships to unlock its vast resources and foster national growth.

She underscored the region’s significant contributions to Nigeria’s economy, particularly in oil and gas, while emphasising its underutilised agriculture, innovation, and entrepreneurship opportunities.

She also called on investors, policymakers, and stakeholders to see the South-South as a gateway to new opportunities, citing initiatives such as the Pitching Den, launched at the event, as a platform to attract bold entrepreneurs and visionary investors.

“This is your moment to recognise the South-South as a hub of untapped potential”, she said.

The event also featured the unveiling of the Impact Report, highlighting milestones achieved under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

The report showcased how targeted initiatives have empowered communities and driven progress in the South-South.

Business

NDLEA, NIMASA Strengthen Cooperation Against Drug Trafficking

Published

4 days ago

January 10, 2025

The Tide

The Nigerian Maritime Administration and Safety Agency (NIMASA) has recommited to supporting the National Drug Law Enforcement Agency (NDLEA) in the fight against drug abuse and trafficking within Nigeria’s maritime sector.

Chairman of the NDLEA, Brig. Gen. Mohammed Buba Marwa (rtd), emphasized this during a courtesy visit by the NDLEA to the NIMASA Towers in Lagos.

Speaking during the visit, the Director General of NIMASA, Dr. Dayo Mobereola, commended the NDLEA for its remarkable achievements in combating drug-related crimes across Nigeria.

He pledged NIMASA’s commitment to collaborating with the NDLEA to secure Nigeria’s maritime domain against illicit shipment of drugs.

“We are glad to welcome the NDLEA team, led by Brig. Gen. Marwa, whose exemplary leadership has brought significant progress in the fight against illicit drugs.

“NIMASA is firmly committed to partnering with the NDLEA to tackle the menace of drug trafficking, particularly through our nation’s ports and terminals.

“Together, we can ensure that the Nigerian maritime domain is not exploited for criminal activities”, Mobereola stated.

Responding, Marwa expressed gratitude for the warm reception and emphasized the need for collaboration to address the rising threat of drug trafficking through maritime channels.

“As the agency responsible for controlling drug abuse and trafficking in Nigeria, we recognize that this task requires collaboration with critical stakeholders like NIMASA.

“The global maritime space has increasingly become a conduit for the illegal movement of drugs, and we are keen to work with NIMASA to address this challenge”, he said.

He continued that “Recent seizures of illicit drugs transported through Lagos ports underscore the need for joint efforts to secure our ports. Within the NDLEA, we have established a Marine Command to focus on this emerging threat.

“We propose close collaboration between this unit and NIMASA, particularly through the Deep Blue Project, to enhance the protection of Nigeria’s maritime space”.

The NDLEA Chairman also pledged the agency’s support in sensitizing NIMASA staff and cadets under the National Seafarers Development Program (NSDP) on the dangers of drug abuse.

Mobereola assured Marwa that NIMASA would explore avenues to integrate NDLEA personnel into the existing maritime security architecture, particularly the Deep Blue Project.