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Oil Production To Hit 1.8mpd In Dec, Kyari Assures

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, has assured Nigerians that the current low crude oil production level will soon be jacked up as output is expected to rise to 1.8million barrels per day (bpd) by the end of 2021.
Nigeria’s crude oil production slumped last month to 1.35million barrels per day about 1.40million bpd in September as Nigeria struggles to reopen some oil fields forcefully shut down by COVID-19.
As a result of that, Libya displaced Nigeria as Africa’s top oil producer.
Kyari, in an interview with Bloomberg TV, monitored in Port Harcourt, yesterday, said oil output would peak at 1.8million barrels a day by December and ultimately 2million barrels when condensate, a light form of oil, is added to the sum.
He said: “It is very obvious that by the close of the year we would get back to the 1.7-1.8million barrels per day from crude only. As you may be aware, when we mention these figures, I am talking about crude oil only.
“We do produce condensate and when we combine this, we can easily hit the 2.0million at the end of the year.
“The fact is very clear, during the COVID-19, we shut down some of these wells and they naturally don’t get back when you want them to and how you want them.
“That is what we are trying to do because we do have some challenges around the facilities and these are being taken care of. There is enormous work and intervention going on that will get us back before the end of the year.”
Kyari, however, said that OPEC+, consisting of the Organisation of the Petroleum Exporting Countries and its allies, would face challenges to quickly pump more oil if a decision was taken to do so.
He added; “may not be very, very realisable” as the finance needed to boost oil production was lacking.
“I’m not sure it’ll be possible to fill the gap” quickly, partly due to a lack of financing for investment in oil fields.
“Even if we were to move, it probably could be a bit difficult to do that.”
Recently, OPEC+ decided to stick to plans to increase the global oil supply by 400,000bpd by December.
But Nigeria has continued to perform below the OPEC quota due to reasons explained by Kyari.
Member countries of OPEC+ led by Saudi Arabia and Russia have also resisted calls by the U.S government to ramp up oil output.
This has led the United States Government to consider a release from the nation’s strategic petroleum reserve (SPR) to tackle soaring gasoline prices.
According to Kyari, such a release by the U.S would likely have a marginal and short-term effect.
“Obviously there has to be significant releases from the SPR for it to make any meaningful change,” the NNPC GMD said.
Kyari said that crude’s likely to stay above $80 a barrel for “a while to come” and $100 is “within sight”.
There are indications that oil price may hit $100/barrel as energy demand increases.

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We’ll Drive Tinubu’s Vision in Rivers With Vigour – Fubara  …Inaugurates Dualized Ahoada/Omoku Road ….Debunks Rift With RSHA

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Rivers State Governor, Sir Siminalayi Fubara, has stated that he will lead Rivers people to galvanize support for President Bola Tinubu to drive the vision and objectives of the Renewed Hope Agenda in the State with vigour.

The governor, who joined the ruling All Progressives Congress (APC), on Tuesday, explained that his decision to join the APC was not for personal interest but for the overall benefit of Rivers State.

Fubara disclosed these while inaugurating the extension of the dualized Ahoada/ Omoku Express road in Ahoada East and Ogba Egbema Ndoni Local Government Areas of Rivers State.

He commended the contracting firm, Julius Berger, for timely delivery of the project, saying the project is a campaign promise fulfilled which will bring economic benefits to the people and tackle issues of insecurity associated with the route.

He said his administration has remained focused in delivering democratic dividends in the state despite facing glaring challenges.

The governor thanked the people of Ahoada East and Ogba Egbema Ndoni Local Government Areas for their continuous support, and urged his supporters to remain steadfast and also support President Tinubu who he said, has demonstrated love to Rivers State as a father.

Fubara denied having rift with the Rivers State House of Assembly, stating that his meeting with the lawmakers was stalled as a result of delay in the agreed meeting to be convened by former Governor Nyesom Wike and other stakeholders for him to meet with the state lawmakers.

“I have made every effort to meet with the Assembly members, but it is not within my leadership to initiate the meeting process.

“The arrangement was for my leader, Wike, and the elders led by Anabraba to call for a meeting with the the lawmakers.

“I’m a gentleman and principled. I can’t go behind to call them when we’ve already agreed. Whoever that tell them that I don’t want to meet with them, or I rejected proposal meant for them isn’t saying the truth,” Fubara said.

The Permanent Secretary of the Rivers State Ministry Works, Mr  Austin Ezekiel-Hart, who gave the project description, said the delivery of the project was a fulfillment of long time dream by the people of Ahoada East and Ogba Egbema Ndoni Local Government Areas.

He said the road was previously a single lane and has now been dualised to 14.6 meters wide, complete with solar-powered streetlights with drainages.

He said the road significantly would reduce travel time between Ahoada and Omoku while improving economic activity in the region.

In his welcome address, Chairman of Ogba-Egbema-Ndoni Local Government Area, Hon. Chuku Shedrack Ogbogu, described the road as a symbol of unity, oneness, and development, thanking the governor for fulfilling his campaign promises.

On his part, the Managing Director of Julius Berger, Engr. Peer Lusbash, said the project was awarded to his company in 2023 with a completion period of 18 months which was achieved in best quality.

He added that Julius Berger enjoyed a good support from the Fubara administration, and assured to complete all ongoing projects being handled by Julius Berger on specification, especially the Ring Road project which is a legacy project.

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Fubara Expresses Commitment To Healthcare …As UNICEF Lauds RSG On Health Programmes

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Rivers State, Sir Siminialayi Fubara, has reaffirmed his commitment to ensuring good healthcare for the people of Rivers State.

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?Governor Fubara stated  this when he played host to the Country Director of UNICEF, Wafaa Saeed Abdelatef and her management team in Port Harcourt, last Tuesday.

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?The governor who was represented by the Secretary to the State Government, Dr. Benibo Anabraba, said he would continue to provide the necessary facilities in order to ensure accessible and good health care for all Rivers people.

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?”We are constructing new zonal hospitals across the State. The Ahoada Zonal hospital will be commissioned in December and others are near completion.

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?”We are grateful to UNICEF for all they have done and believe we can always work together to care for the vulnerable in the society. We appreciate your physical presence, and believe that your staff working remotely, can also do more virtually. We have a capable Commissioner of Health, Dr. Adaeze Oreh, to help foster our relationship, communication and greater collaboration,” he said.

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?The Country Director for UNICEF Nigeria, Ms. Wafaa Saeed Abdelatef, assured Governor Fubara of UNICEF’s support to the programmes of the State Government. She appealed that health facilities such as the Oxygen Plant at Eleme Local Government Ares and the New Born Care Units be solarized.

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?”Be assured that UNICEF will continue to work and support the programmes here in Rivers State. We have seen the Oxygen  Plant at Eleme LGA which has been effective because of the Public Private Partnership. We appeal that the plant be solarized.

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?”I commend your leadership of the State and  assure that we are here to support your effort and assure you that you can count on our support and partnership. Rivers State is one of the states we can showcase how things are working so others can learn,” she added.

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Dangote Unveils N100bn Education Fund For Nigerian Students

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Chairman of the Dangote Group, Alhaji Aliko Dangote, has announced a N100 billion annual education support programme aimed at keeping financially vulnerable Nigerian students in school.

Speaking at the launch of the national scholarship scheme in Lagos, yesterday, Dangote said too many brilliant young people were being forced out of classrooms because of poverty.

He described education as the “strongest engine of social mobility” and a critical foundation for national development.

The initiative, funded by the Aliko Dangote Foundation, will run for ten years beginning in 2026, costing over N1 trillion in total.

Dangote said the scheme would support 45,000 scholars each year at inception, expanding to 155,000 beneficiaries annually by its fourth year, and maintaining that level for the rest of the decade.

By 2036, he said, the programme is expected to have reached at least 1,325,000 students.

“We cannot allow financial hardship to silence the dreams of our young people, not when the future of our nation depends on their skills, resilience and leadership,” he added.

A major component of the fund is the Aliko Dangote STEM Scholars programme, which will provide annual scholarships for 30,000 undergraduate students pursuing science, technology, engineering and mathematics in public universities and polytechnics.

Each beneficiary will receive tuition support aligned with the fees of their institution and course of study. Dangote said the goal is to expand access to higher education, empower innovation, and give young Nigerians the tools to compete globally.

“STEM drives development. If Nigeria must compete globally, our young minds must have the tools to learn, imagine and innovate,” he said.

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