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Petroleum Producers Call For Quick Conclusion Of Pending IOCs Divestment Transactions

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The Independent Petroleum Producers Group (IPPG) has called for a quick conclusion of all the pending International Oil Companies (IOCs) divestment transactions in the country.
Mr Abdulrazaq Isa, IPPG Chairman, made the call at the ongoing 2024 Nigerian Oil and Gas (NOG) Energy Week in Abuja, yesterday.
The 2024 NOG conference, scheduled to hold from June 30 to July 4, has the theme: “Showcasing Opportunities, Driving Investment, Meeting Energy Demand.”
Isa said the IPPG believed the timely approval of these IOCs divestment transactions would be a clear signal capable of restoring global investor confidence in Nigeria.
“IPPG strongly advocates that our member companies – Seplat, the Renaissance Consortium and Oando – have the proven track record to successfully take over and manage these onshore and shallow water assets.
“The assets will realise incremental production in the region of 100,000 – 200,000 barrels of oil and over 1.5 billion cubic feet (bcf) of gas per day within 24 months and well over 500,000 barrels of oil per day in the long term.
“IPPG believes the timely approval of these IOCs divestment transactions will restoring global investor confidence in Nigeria in an era of competing global investment destinations in Africa and very limited access to capital,” he said.
He also underscored the need to address deepwater development and production.
According to him, untangling issues around deepwater development, particularly in terms of competitive fiscal regime being negotiated with Shell, Total Energies, ExxonMobil and Chevron, will unlock incremental production of 700,000bpd in the short to medium term.
He said that enabling deepwater development would attract significant economic benefits as Nigeria has one of the world’s largest untapped deepwater resource base.
The IPPG boss also called for the adoption of a national value-retention strategy, adding that Nigeria’s domestic crude oil refining and petrochemical capacity must be sustained primarily from our domestic crude production.
This, he said, would transform the country into a net exporter of refined petroleum and petrochemical products that would lay a strong foundation for the rapid industrialisation of the Nigerian economy.
“It is, therefore, imperative to grow our daily production to 2.5 million barrels of oil and 10 bcf of gas in the near to long term.
“This will ensure that we are able to meet our domestic refinery, petrochemical demands and export commitments to generate the much needed foreign exchange earnings for macro-economic stability.
“Nigeria’s vast gas resources must be exploited with immediate focus placed on restoring production to existing installed Liquefied Natural Gas (LNG) capacity and expanding production (FLNG).
“In addition, we must expand domestic gas utilisation (Gas-to-Power; Gas-Based Industries) by investing heavily to address the gas infrastructure deficit facing us today.
The IOCs will lead the charge on export gas while IPPG members will drive the domestic gas agenda led by the Nigerian National Petroleum Company Limited (NNPC Ltd.),” he said.
He said these priority areas would provide the most realistic and sustainable pathway towards meeting the national long term production aspiration of four million bpd and 13 bcf of gas per day.
“Consequently, as a matter of national importance, Nigeria must act fast and hasten the pace of recovery across the entire industry, even if it means Mr President declaring a state of emergency in the sector!,” he said.

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RSG Cancels ?134BN Secretariat Contract, Orders Refund Of ?20BN Mobilisation … Revalidates Four Projects

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The Rivers State Executive Council has revoked the ?134bn contract awarded to the China Civil Engineering Construction Corporation (CCECC) for the renovation, retrofitting, and furnishing of the Rivers State Secretariat Complex by the State of Emergency Administration.

 

The council directed the immediate refund of the ?20bn mobilization fee already paid to the contractor.

 

Relatedly, the Council also approved the revalidation of the bidding processes for four contracts, consisting of the renovation of the State Secretariat Complex, construction of reinforced concrete shoreline protection and reclamation works in several riverine communities of Opobo/Nkoro, and Ogba/Egbema/Ndoni Local Government Areas. The projects earlier advertised for which bid documents were cancelled by the Emergency Administration and fees returned to the companies that had earlier purchased them.

 

The decisions were reached during the State Executive Council meeting held on Thursday at the Government House, Port Harcourt, and presided over by Governor Siminalayi Fubara.

 

Briefing newsmen, the Permanent Secretary, Ministry of Works, Dr. Austin Ezekiel-Hart explained that the contracts had been awarded in a hasty manner without following due process. He said the council, therefore, approved the revalidation of the bidding process for all four contracts that were earlier advertised in national dailies on February 19, 2025.

 

With the revalidation process now on, Dr. Ezekiel-Hart stated that a fresh bidding will be advertised in newspapers for competent and experienced contractors to prequalify and submit both technical and commercial bids.

 

He listed the projects to include, “The construction of 4.8km reinforced concrete shoreline protection and reclamation of Queenstown, Epellema, Oloma, and Minima communities in Opobo/Nkoro Local Government Area in Rivers State. The construction of 2.5km shoreline protection and reclamation in Ndoni-Onukwu, Isikwu, and Aziazagi communities in Ogba-Egbema-Ndoni Local Government Area.

 

“The construction of 2.5km shoreline protection and reclamation in Utuechi, Obiofu, Isala, Ani-Eze, and Odugri communities in Ogba-Egbema-Ndoni Local Government Area. The renovation, retrofitting and furnishing of the Rivers State Secretariat Complex,” he added.

 

Also speaking, the Permanent Secretary, Ministry of Education, Dr. Azibaolanari Uzoma-Nwogu, announced that the council approved the constitution of a committee to develop a proposal for the creation of Computer-Based Test (CBT) Centres and ICT Laboratories across the three senatorial districts of the state.

 

She explained that the initiative is in line with the Federal Government’s directive that beginning in 2026, all examinations conducted by the West African Examinations Council (WAEC) and the National Examinations Council (NECO) will be computer-based.

 

The committee, chaired by the Deputy Governor, has the Secretary to the State Government, Permanent Secretaries from the Ministries of Education, Works, Information and Communications and Commissioner for Energy as members. Dr. Uzoma-Nwogu said the move will prepare Rivers youths for a digital future and improve the quality of education across the state.

 

On issues of employment, the Commissioner for Employment Generation and Economic Empowerment, Dr. Chisom Gbali, said the council reviewed ongoing efforts to create jobs for Rivers youths. He disclosed that his ministry has been directed to develop a framework for job creation and economic empowerment, noting that the government is determined to open up more opportunities for the young population.

 

“We want to assure Rivers youths that there will be a rising tide of employment and steady waves of economic empowerment,” Dr. Gbali said. “We know our Governor, when he makes a promise, he ensures it is fulfilled.”

 

On his part, the Permanent Secretary, Ministry of Information and Communications, Dr. Honour Sirawoo, said council also deliberated extensively on the recent flash floods experienced in some parts of the state. He said the council directed immediate remedial intervention to address the situation, and cautioned residents against the indiscriminate disposal of waste into drainage channels and building on waterways, which worsens flooding.

 

Dr. Sirawoo further noted that Governor Fubara remains deeply committed to the development of Rivers State and determined to accelerate the pace of governance despite time lost. He added that the administration’s renewed focus and energy will soon place Rivers State firmly back on the path of sustainable growth and progress.

 

 

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Fubara Reassures Rivers People Of Completion Of PH Ring Road Project

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Rivers State Governor, Sir Siminalayi Fubara, has reaffirmed his administration’s commitment to the completion of the 62.650km Port Harcourt Ring Road project, despite the setbacks that have slowed its progress.

 

The Governor gave the assurance during an on-site inspection tour of the project on Monday, where he emphasised that the state government remains resolute in its determination to deliver the massive infrastructure for public use.

 

Addressing journalists at the Eneka Flyover axis of the project, Governor Fubara stated that his visit was to verify the level of compliance and commitment shown by the construction firm, Julius Berger Nigeria Plc.

 

Governor Fubara noted that discussions with the contractor had been ongoing to ensure that work resumes at full capacity after a period of financial challenges that affected the project’s continuity.

 

“You are aware that this project was, I won’t say abandoned, but somehow, for lack of funds, the contractor withdrew from the site. We have been discussing with them, and they gave me their word that although we have not finished all the discussions, they have already moved back to site, and I’m here to confirm that.”

 

The Governor described the Port Harcourt Ring Road project, which traverses six local government areas, as one of the most significant infrastructure undertakings in the state’s history, noting that its completion would not only ease traffic congestion in the capital city but also stimulate economic activities across multiple local government areas.

 

Governor Fubara reiterated his administration’s resolve to continue prioritising infrastructure development as a foundation for economic growth and social progress.

 

“I want to make this promise to our good people of Rivers State,” the Governor declared. “This project that we started, by the special grace of God, we are going to complete it. We owe our people a responsibility to deliver on our commitments, and this project will not be an exception,” he added.

 

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Use Service Year To Build Capacity, Fubara Urges Corp Members

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The Governor of Rivers State, Sir Siminalayi Fubara, has charged the 2025 Batch B, Stream II National Youth Service Corps (NYSC) members deployed to the State, to  use the NYSC skill acquisition training programme to build capacity.

 

Governor Fubara gave the charge on Tuesday when he declared closed, the 2025 Batch B Stream II orientation exercise in the State.

 

Represented by the newly sworn-in Secretary to the State Government and Chairman NYSC State Governing Board, Hon. Benibo Anabraba, Governor Fubara enjoined the Corps members to embrace skill acquisition wholeheartedly in order to elevate themselves as wealth creators and employers of labour.

 

“Take Rivers State as your home. Be assured of the warmth, hospitality, and accommodating disposition of the good of our people at all times.

 

“Take the skill acquisition and entrepreneurship development post camp training very seriously and equip yourselves with the capacity to compete favourably in the nation’s huge economic space,” he stressed.

 

The Governor called on the Corps members to see their mobilization into the NYSC Scheme as a fundamental way to provide humanitarian services.

 

“Remember that you owe it to yourself, family, and the nation, the responsibility to serve selflessly and honourably,” he admonished.

 

In his farewell address, the State Coordinator of NYSC, Mr. Moses Oleghe appealed to the Corps members to use the opportunity of the service year to discover their true purpose.

 

He further encouraged them to embody selfless service and empathy in serving the people.

 

The colourful ceremony witnessed a vibrant parade.

 

 

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