Oil & Energy
‘Oil Sector’s Bleak Days’ll Be Over’
The management of an
indigenous oil firm Nedal Oil and Gas Nigeria Limited has expressed hope that the present bleak days and challenges facing the sector would soon be over and the economy of the nation would bounce back to life.
Managing Director of the firm, Princess Delma Ogba told The Tide in Port Harcourt over the weekend that the present economic challenges would draw the attention of Nigerians and government to other non-oil potentials that had been neglected.
Ogba regretted that agriculture which remained one of the highest and oldest revenue earners was taken for granted in Nigeria but that the present harsh economy would draw the nation to do the right thing by developing the nation’s agricultural potentials and other dormant potentials that would be enhanced.
According to her, good governance, laws in the oil sector would equally restore the people’s confidence especially those from the oil producing communities so that peace and development would rule in the sector.
She challenged the National Assembly to have a critical look at the laws governing the oil sector and carry out necessary amendment, stressing that there was need for the petroleum Industry Bill (PIB) to be concluded and passed into law.
According to her, “with good laws and environment, investors will be attracted to invest and refineries will begin to boom. At this point, employment and more wealth would be created”, she stated.
Ogba advised Federal Government to make investment in agriculture attractive so that youths who have the physical capacity to go into farming would embrace it.
“A way of doing that is by making soft loans accessible to them and helping grassroot women with soft loans to go into small and middle scale business, she said.
She regretted that government in the past has said so much about agriculture and SMEs while actually doing little, remarking that such vital initiatives should not be politicised so as to achieve set goals.
Chris Oluoh
Oil & Energy
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By Felicity Bradstock for Oilprice.com 16
Oil & Energy
Delta Targets 120MW Power Boost, Moves To Cut Reliance On National Grid
The State Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, disclosed this at a press conference in Asaba, weekend, noting that the initiative was part of wider reforms aimed at opening up the power sector to private investors.
Aniagwu, who was accompanied by the Executive Assistant to the Governor on New Media, Felix Ofou, said the state was exploring alternative sources of electricity to support businesses, households and communities while reducing pressure on the national grid.
He said the government was particularly interested in exploiting Delta’s abundant natural gas resources for power generation, pointing to the Kwale Free Trade Zone, which is part of the state’s special economic zone, as a major opportunity for investors.
According to him, prospective investors were taken to the zone during the state’s recent economic summit to enable them to assess the availability of gas as a key raw material for electricity generation. ComparePower Rates
The commissioner explained that generating more electricity locally would not only increase supply in Delta but also free up power on the national grid for use by other consumers.
Aniagwu cited the 8.5MW Independent Power Plant located behind the state secretariat in Asaba as an example of what could be achieved through alternative power sources.
He said the facility had enabled the secretariat complex to operate independently of the national grid, thereby making the electricity that would otherwise have been consumed there available to other users.
He added that the planned 120MW partnership with Supply Power would further strengthen the state’s electricity supply capacity and provide a more reliable power base for small and medium-sized enterprises.
Aniagwu said the state government was also intervening in areas traditionally regarded as the responsibility of electricity distribution companies because inadequate power supply could no longer be allowed to constrain economic development. LearnQuantum Physics
He identified the extension of the electricity grid from Abraka towards the Ndokwa axis as one of the interventions being undertaken to connect more communities to electricity.
The commissioner, however, raised concerns over the burden placed on communities that are often required to provide transformers and other electricity infrastructure, only for distribution companies to take over the facilities and subsequently collect electricity bills without adequately accounting for the investments made by the communities.
He said the state would continue to support efforts aimed at energising communities, noting that improved electricity supply would stimulate businesses, create jobs and help tackle social problems associated with unemployment and idleness.
On regulation, Aniagwu said the government was working with the Ministry of Energy and a committee set up to develop an appropriate regulatory framework for the state’s emerging power sector. SwitchEnergy Plans
He said the proposed energy commission would be responsible for regulating new electricity producers, determining appropriate tariffs and overseeing distribution networks.
The commissioner stressed that liberalising the sector required effective regulation to protect consumers and investors, adding that decisions on power distribution infrastructure, including the use of overhead or underground lines, must take into account the peculiarities and safety requirements of each location.
He warned that power expansion without adequate regulation could expose residents to electrocution and other hazards, stressing the need to protect electricity infrastructure while ensuring consumers were not subjected to unfair pricing.
Aniagwu said the state government’s broader objective was to build an efficient and sustainable electricity market driven by private investment and capable of powering businesses, households and communities across Delta State.
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