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NNPCL Now Free From Institutional Regulations, Buhari Declares …Says Firm To Ensure Energy Security …Assures Of Value In Line With Global Best Practice …Clarifies Stance On Sale Of NOC

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President Muhammadu Buhari, yesterday, officially unveiled the Nigerian National Petroleum Company Limited (NNPCL), and declared that the new entity was henceforth free from institutional regulations.
Buhari, who made this public at the State House Conference Centre, Presidential Villa, Abuja, stated that the oil firm would conduct itself under best international business practices.
He said, “The provisions of PIA (Petroleum Industry Act) 2021, have given the Nigerian petroleum industry a new impetus, with an improved fiscal framework, transparent governance, enhanced regulation, and the creation of a commercially-driven and independent national oil company that will operate without relying on government funding and free from institutional regulations such as the Treasury Single Account (TSA), Bureau of Public Procurement (BPE), and Fiscal Responsibility (FR) Acts.
“It will, of course, conduct itself under the best international business practice in transparency, governance, and commercial viability.”
The president said the government was transforming the petroleum industry to strengthen its capacity and market relevance for current and future global energy priorities.
“By chance of history, I was privileged to lead the creation of the Nigerian National Petroleum Corporation on the July 1, 1977. Forty-Four years later, I was again privileged to sign the Petroleum Industry Act in 2021, heralding the long-awaited reform of our petroleum sector,” he stated.
The president further noted that coincidentally, “I, on July 1, 2022, authorised the transfer of assets from the Nigerian National Petroleum Corporation to its successor company, the Nigerian National Petroleum Company Limited, and steered the implementation leading to the unveiling of Africa’s largest national oil company today.
“I, therefore, thank Almighty God for choosing me to consistently play an important role in shaping the destiny of our national oil company from the good to the great.
“NNPC Limited will operate as a commercial, independent, and viable NOC at par with its peers around the world to sustainably deliver value to its over 200million shareholders and the global energy community while adhering to its fundamental corporate values of integrity, excellence, and sustainability.”
He said NNPC Limited was mandated by law to ensure Nigeria’s national energy security is guaranteed to support sustainable growth across other sectors of the economy as it delivers energy to the world.
“It is, therefore, my singular honour and privilege on this historic day of July 19, 2022, to unveil the NNPC Limited, with a focus on becoming a dynamic global energy company of choice to deliver energy for today for tomorrow, for the day days after tomorrow,” Buhari stated.
Buhari also affirmed that the company was mandated by law to ensure that Nigeria’s national energy security was guaranteed.
Thepresident said Africa’s largest National Oil Company (NOC) would also support sustainable growth across other sectors of the economy as it delivers energy to the world.
At the event, which featured a special rendition of the Theme Song “Energy for today, Energy for tomorrow, Energy for Everyone” by an Ensemble, the president recounted how God had used him to consistently play an important role in shaping the destiny of the country’s NOC in the last 45 years.
He expressed optimism that the NNPC Limited would operate without relying on government funding and be free from institutional regulations such as the Treasury Single Account (TSA).
“This is a landmark event for the Nigerian oil industry,” Buhari said.
“Our country places a high premium on creating the right atmosphere that supports investment and growth to boost our economy and continue to play an important role in sustaining global energy requirements.
“We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities”.
The president, therefore, assured stakeholders in the industry that Africa’s largest NOC will adhere to its fundamental corporate values of Integrity, Excellence and Sustainability, while operating as a commercial, independent, and viable NOC at par with its peers around the world.
He added that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, and for the days after tomorrow.
Buhari thanked the leadership and members of the National Assembly for demonstrating uncommon courage and patriotism in the passage of PIA that culminated in the creation of NNPCL.
The president charged the company to ensure that Nigerians at large get value from its operations in line with global best practices.
He noted that the Petroleum Industry Act 2021 has given an additional impetus for a transparent and profitable energy venture.
The president assured that the NNPC Limited will operate as a commercial, independent and viable NOC at par with its peers around the world, to sustainably deliver value to its over 200 million shareholders and the global energy community, while adhering to its fundamental corporate values of integrity, excellence and sustainability.
With the NNPC transitioned to a fully commercial entity, the Federal Government would, henceforth, halt all forms of funding for projects and sundry purposes as against what was obtained in the last 45 years of the national oil company’s existence.
According to the president, Nigeria places a high premium on creating the right atmosphere that supports investment and growth to boost its economy and continues to play an important role in sustaining global energy requirements.
“We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities,” the president stated.
“It will, of course, conduct itself under the best international business practice in transparency, governance and commercial viability.
In his remarks, Minister of State for Petroleum Resources, Chief Timipre Sylva, said with the signing of the PIA, which assures international and local oil companies of adequate protection for their investments, the nation’s petroleum industry is no longer rudderless.
‘‘From the onset of this administration, Mr President never concealed his desire to create a more conducive environment for the growth of the oil and gas sector, and addressing legitimate grievances of communities most impacted by extractive industries,” he stated.
“While the country was waiting for the PIA, Nigeria’s oil and gas industry lost about $50billion worth of investments. In fact, between 2015 and 2019, KPMG states that ‘only four per cent of the $70billion investment inflows into Africa’s oil and gas industry came to Nigeria even though the country is the continent’s biggest producer and the largest reserves’.
“We are setting all these woes behind us, and a clear path for the survival and growth of our petroleum industry is now before us,” he said.
Sylva described the unveiling of NNPC Ltd as a new dawn in the quest for the growth and development of the Nigerian oil and gas industry, opening new vintages for partnerships.
He thanked the president for his unparalleled leadership, steadfastness, and unalloyed support for ensuring that the country’s oil and gas industry is on a sound footing.
Also speaking, the Group Chief Executive Officer of NNPC Limited, MeleKyari, announced that the company had adopted a strategic initiative to achieve the mandate of energy security for the country by rolling out a comprehensive expansion plan to grow its fuel retail presence from 547 to over 1,500 outlets within the next six months.
He assured stakeholders and the global energy community that the new company was endowed with the “best human resources one can find anywhere in the industry.
“NNPC Limited is positioned to lead Africa’s gradual transition to new energy by deepening natural gas production to create low carbon activities and positively change the story of energy poverty at home and around the world,” he said.
Meanwhile, President MuhammaduBuhari’s Special Assistant on New and Digital Media, ToluOgunlesi, has dismissed claims that the Federal Government has sold the Nigerian National Petroleum Company Limited (NNPCL).
Ogunlesi assured that the Federal Government still owns NNPC.
He explained that NNPC was only transitioning from a government parastatal into a commercial liability company.
In a tweet, Ogunlesi wrote: “NNPC has not been ‘SOLD’, please. It is still wholly owned by government. What has happened is a TRANSITIONING from a government ‘parastatal’, into a commercially-run Limited Liability Company (still wholly owned by Government of Nigeria,on behalf of the people of Nigeria), governed by CAMA.”
The event had the Senate President, Dr Ahmad Lawan; Speaker of the House of Representatives, Hon Femi Gbajabiamila; among other top government dignitaries, in attendance.

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Rivers DPOs Receive Awards For Outstanding Performance In Crime Prevention …As Students, Media Group Honour CSP Worgu, CSP Yusuf

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Two Divisional Police Officers (DPOs) in Rivers State have been honoured by separate groups for their contributions to security, crime prevention and improved community-police relations in their respective areas of responsibility.

The beneficiaries are the DPO of Afam Police Division, CSP  Endurance Worgu and his counterpart at Oyigbo Police Division, CSP Bello Yusuf.

CSP Worgu was honoured by a group of students under the aegis of Rivers State Graduate Students Associations for what they described as his commitment and outstanding performance in the discharge of his duties.

The students, led by  Chidi John Enyie, Esq. said CSP Worgu was selected based on his track record and status as one of the longest-serving young DPOs of Rivers State origin.

According to the group, CSP Worgu has made significant contributions to the protection of lives and property in the area since assuming office following the #EndSARS period.

The students said they were particularly impressed by the improvement in community-police relations under his leadership, noting that professionalism had remained a key feature of his service.

Enyie represented by Comrade Briggs Soku, said the students community was pleased to identify with a Rivers indigene who had distinguished himself in the police force.

He said the students considered it necessary to encourage and celebrate CSP Worgu because of his achievements as a young Rivers man excelling in a profession that many people from the state were often reluctant to join.

Receiving the award at his office in Afam, CSP Worgu expressed gratitude to God and the students for finding him worthy of the honour.

The DPO said the recognition had boosted his morale and encouraged him to sustain his efforts towards maintaining peace and security in the area.

He said he least expected the honour, particularly because it came from the students, adding that the recognition would further motivate him to serve the people better.

CSP Worgu assured residents of Afam that the police would sustain the existing peace in the area.

He appealed to members of the public to support the police by providing credible and timely information, stressing that useful information from residents would make the job of security personnel easier.

Meanwhile, the Ikwerre/Etche Media Association has also honoured the DPO of Oyigbo Police Division, CSP Bello Yusuf, for his efforts in tackling criminal activities in the area.

The media group presented the award following the swift tracking and arrest of five suspected kidnappers who had allegedly terrorised residents of the Kom-Kom axis and other parts of Oyigbo.

The group commended CSP Bello for what it described as his determined efforts to restore confidence and security in the affected communities, particularly Kom-Kom and Obeama.

According to the group, the arrest of the suspects demonstrated the DPO’s commitment to tackling criminality and safeguarding residents.

The media association said residents had received the development with relief, noting that the police action had sent a strong message to criminal elements operating in the area.

Responding, CSP Yusuf appreciated the group for the recognition and reaffirmed that there would be no room for criminality in Oyigbo.

He also commended the media for its role in disseminating credible information to the public, saying the media had remained supportive of the police in the fight against crime.

CSP Yusuf warned criminal elements operating in Oyigbo to leave the area or be prepared to face the full weight of the law.

He assured residents that the police would continue to pursue criminals and work to dismantle their hideouts, regardless of where they might be operating.

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College Of Bishops Endorses Tinubu, APC Candidates  For 2027 Polls

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The 5000 Achievers Christian Forum and Colleges of Bishops, Archbishops and Apostles, a Christian interdenominational organisation, has endorsed President Bola Ahmed Tinubu and all candidates of the All Progressives Congress (APC) in Rivers State for the 2027 general elections.

International President of the forum, Archbishop Lucky Aroh, disclosed this during the ordination and consecration of three new Bishops, as well as an award ceremony held in Port Harcourt.

Aroh said the performance of the APC-led Federal Government had endeared the party to the organisation, prompting the forum to declare its support for President Tinubu and other APC candidates in Rivers State.

He said the forum would support all APC candidates in the state during the 2027 elections and urged Nigerians to vote for the party.

Aroh, who is also the General Overseer of Caring Peoples Church, Port Harcourt, charged the newly consecrated Bishops to see their new positions as a great responsibility and dedicate themselves to the advancement of the kingdom of God.

He cautioned them against conduct capable of bringing their offices into disrepute, stressing that their activities would be closely watched by members of the public.

“As Bishops, the eyes of the public are on your activities. You must therefore conduct yourselves in a manner worthy of your calling,” he said.

Also speaking, the International Coordinator of the forum, Bishop Saint Robinson, urged the newly consecrated Bishops to work diligently towards winning souls for the kingdom of God.

Robinson, who was the guest speaker at the event, stressed that the activities of Bishops must at all times be guided by godly principles.

He also called on members of the church to support and cooperate with the newly consecrated Bishops in the discharge of their responsibilities.

The Secretary of the College, Apostle Elizabeth Ayadi Abaye, said the organisation was established to advance the kingdom of God and promote spiritual development.

According to her, the forum has organised several crusades, conferences, prayer meetings, ordinations, consecrations, enthronements, empowerment programmes and other spiritual development activities across the country as part of efforts to win souls for Christ.

Abaye said the organisation has members across the world and disclosed that more programmes had been scheduled to promote the spiritual development and wellbeing of humanity.

The three Bishops consecrated at the ceremony were Prince Alban Chike, Testimony Omenihu Shedrach and Prince Ifemena.

Among those honoured at the event were the Chairman of the Community Development Committee (CDC), Abali Community, Port Harcourt City Local Government Area, Manuchimso Prince Lemmy Wopara, and Clifford Oko Jaja, Coordinator of the 5,000 House-to-House for President Tinubu.

By: John Bibor

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Police Arrest Fake Soldier, Others For Armed Robbery, Kidnapping

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The Rivers State Police Command has arrested a 49-year-old suspected fake soldier, Andrew Atausi, and several other suspects in connection with various criminal activities, including kidnapping, armed robbery, cultism, one-chance robbery and the alleged murder of police officers.

The State Commissioner of Police, CP Olugbenga Adepoju, disclosed this in Port Harcourt, recently during a press briefing at the Command Headquarters, where he said the arrests formed part of the operational achievements recorded by the Command between June and August 2026.

Adepoju said Atausi was arrested on August 10 by police operatives along Ada George, Port Harcourt, while dressed in military uniform and driving a Toyota Hilux painted in Army colours.

The Commissioner said investigation revealed that Atausi was not a member of the Armed Forces, adding that he was suspected to be a serial car snatcher, with three suspected stolen vehicles recovered from him.

He said the recovered vehicles included three Toyota Hilux vehicles without registration numbers and a Toyota Corona Premio with registration number BNY 380 ES, noting that the chassis and engine numbers of the vehicles had allegedly been tampered with.

Adepoju added that an axe and military accoutrements were also recovered from Atausi, as investigation continued into the circumstances surrounding the vehicles and other items recovered from him.

On the June 29 attack on police officers at Aluu Division, the Commissioner said three members of the gang allegedly responsible for the incident had been arrested by operatives of the Violent Crime Response Unit, VCRU-AKU.

The suspects, identified as Maduabuchi Emeka, 34, alleged gang leader; Doctor Chinedu Owhor, 42, and Kamachi Joe, 28, alleged armourer, reportedly led operatives to their hideout at Omagwa where two AK-47 rifles stolen during the attack were recovered.

Adepoju recalled that two police officers were killed during the Aluu attack, while others were wounded and one officer had his leg amputated, stressing that efforts were ongoing to apprehend the fourth suspect.

On kidnapping, the Commissioner said five members of a suspected kidnapping syndicate were arrested in Oyigbo Local Government Area, adding that they allegedly confessed to operations in Kom-Kom, Railway, Obeama and Afam communities.

He said two other suspects from the same network, Anele Ogbogu, 35, alleged to be the gang’s armourer, and Kenneth Eke, 38, were arrested on July 27, with one AK-47 rifle and one SMG rifle recovered.

The Commissioner further disclosed the arrest of suspects in connection with alleged firearm offences, armed robbery, cultism and one-chance robbery, with firearms, ammunition and other exhibits recovered during the operations.

Adepoju assured residents that the Command would sustain intelligence-led, proactive and community-oriented policing in collaboration with other security agencies, while urging members of the public to continue providing credible information that would assist the police in combating crime across Rivers State.

By; King Onunwor

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