News
‘IOCs To Divest $11.5bn Oil Blocks In 2014’
International Oil Companies (IOCs) operating in Nigeria may divest more than $11.5 billion (about N1.9 trillion) worth of oil blocs by the end of this year, Petroleum Minister, Diezani Alison-Madueke has said.
Some of the IOCs have either sold off or are in the process of selling up to 28 oil blocks since 2010.
The oil blocks account for about 2.2 billion barrels of crude worth about $5 billion or N840 billion.
The minister, who made the disclosure at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, however, allayed fears that the situation could lead to crisis in Nigeria.
Alison-Madueke, represented by the Group Managing Director of the NNPC, Mr Andrew Yakubu, said: ”The divestment in the upstream sector of the oil industry by IOCs such as Shell, Total, Agip, Chevron and ConocoPhilips have continued to create an opportunity for participation in the industry by the Nigerian private sector.
“The divestment campaign was highly competitive and attracted interest from a number of indigenous and foreign companies.
“At the end of this, the total number of blocks that are likely to be divested is estimated to exceed 20 with not less than 4 billion barrels of oil equivalent and a monetary value of about $11.5 billion.”
She, however, said that Nigeria’s oil production had remained steady at about two million barrels per day, representing approximately 2.4 per cent of global production.
According to her, gas production has also increased from 2.4 billion cubic feet per day (bcfpd) in 2009 to about 8.0 bcfpd at present, representing about 1.1 per cent of global gas production.
Giving reasons for the divestment, the minister said “the fact is that a number of the IOCs are moving into more challenging frontiers in the deep offshore and are leaving the onshore blocks, which they consider less profitable.
“In addition, some of them have been sitting on oil blocks and have allowed the acreage to go fallow for years without significant development,” she said.
Divestment in Nigeria, according to her, signifies a shift in IOC’s strategy toward the offshore which now accounts for at least 60 per cent of Nigeria’s total production.
The minister, however, assured that the IOC’s “remain very much present in Nigeria as Shell still retains ownership in 34 onshore blocks while Total, ExxonMobil and Chevron are still committing large amounts of capital to assets offshore Nigeria’’.
Allaying fears of possible crisis in the sector, Alison-Madueke said the divestment was changing the onshore corporate landscape and creating material brown field opportunities for upstream players, looking to enter the Nigerian upstream space.
According to her, indigenous production now accounts for about 10 per cent of production in Nigeria, a level which is expected to rise to about 300,000 bpd by 2015.
She said that marginal field operators were expected to produce about 50,000bpd based on current work programmes.
The OTC now in its third day, has up to 2,500 Nigerians participating with some 41 Nigerian companies exhibiting their products and services.
News
NDLEA Alerts Parents After Uncovering Drugs In Cookies, Gummies
The National Drug Law Enforcement Agency (NDLEA) has cautioned parents to closely monitor their children’s craving for cookies and gummies, warning that some of the products may contain illicit substances being smuggled into the country.
In a statement posted yesterday, NDLEA’s Director of Media and Advocacy, Femi Babafemi, said recent seizures by the agency’s officers had revealed attempts by criminal elements to introduce prohibited substances under the guise of everyday snacks.
“As parents, if your kids and young ones always crave for cookies and gummies, you may have to pay a little more attention. There may be more to it than ordinary cookies and gummies,” Babafemi wrote, sharing images of seized packages.
The photos showed colourful pouches of “Cookies Delta 8 Gummies” in flavours such as Hawaiian Rain Pineapple Guava and Thai Mango, labelled as vegan and hemp-derived, alongside the actual gummy products.
The warning comes amid a major interception by the Nigeria Customs Service at the Tin Can Island Port in Lagos.
Officers seized two 40-foot containers containing large quantities of cannabis-infused products concealed among legitimate imports such as used vehicles, generators, batteries and fabrics.
The consignment included thousands of Delta-8 cannabis pre-roll cookies, packs of cannabis-infused gummies and other cannabis-infused cookies, with a combined estimated street value of about ?373.8m.
The items were subsequently handed over to the NDLEA.
NDLEA officials described the products, which originated from the United States and were packaged to resemble ordinary vegan snacks with appealing flavours, as an emerging public health threat.
They noted that the attractive packaging could appeal especially to children, students and young people, raising the risk of accidental consumption of concentrated cannabis.
News
RIWAMA, PCRC Join Forces To Curb Illegal Waste Dumping In Rivers
The Rivers State Waste Management Agency (RIWAMA) has announced plans to partner with the Police Community Relations Committee (PCRC) to strengthen efforts at combating illegal waste dumping and improving environmental sanitation across the state.
The partnership was unveiled during a meeting between officials of RIWAMA and the leadership of the Rivers State chapter of the PCRC in Port Harcourt, recently, where both organisations pledged to work together to restore the Garden City status of the state capital.
In his speech, the Supervisor of Market and Community Sanitation in RIWAMA, Mr. Omereji Ukoha, said the collaboration was in line with the vision of the agency’s Managing Director, Dr. Ibimina Wokoma, and the Board Chairman, Dr. Samuel Nwanosike, to promote a cleaner and healthier environment.
Ukoha described the PCRC as a strategic grassroots partner capable of mobilising communities and driving behavioural change through sustained public enlightenment on proper waste disposal.
He expressed concern over the increasing rate of indiscriminate refuse dumping in parts of Port Harcourt, particularly in New GRA, where blocked drainage channels and illegal shanties have continued to contribute to flooding and environmental degradation.
According to him, the agency is determined to intensify enforcement against environmental offenders, warning that unregistered cart pushers and residents who patronise them would be prosecuted in accordance with the provisions of the RIWAMA Act, 2014.
The RIWAMA official urged residents to embrace proper waste disposal practices and patronise only government-approved waste operators in order to safeguard public health and protect the environment.
Responding, the Chairman of the Police Community Relations Committee in Rivers State, Dr. Voke Emore, commended RIWAMA for seeking collaboration with the committee in addressing environmental challenges confronting the state.
Emore said the PCRC would deploy its community-based structures across the state to support public sensitisation and encourage residents to comply with environmental sanitation regulations.
He also called on local government councils to play more active roles in waste management, noting that they collect sanitation levies and should complement the efforts of the state government in maintaining a clean environment.
The PCRC chairman described indiscriminate refuse disposal as a serious environmental and public health concern, stressing that sustained collaboration among government agencies, community leaders and residents remained critical to achieving lasting sanitation goals.
Both organisations expressed optimism that the partnership would promote cleaner communities, reduce environmental hazards and strengthen public participation in efforts to ensure a healthier and more sustainable environment for the people of Rivers State.
King Onunwor
News
Police Nab Kidnap Syndicate, Arrest Five In Rivers
The Rivers State Police Command has arrested five suspected members of a kidnapping syndicate allegedly terrorising communities in Oyigbo Local Government Area of the State.
The State Police Command disclosed this in a statement by its Public Relations Officer, ASP Blessing Agabe, in Port Harcourt, recently.
The suspects were arrested during a coordinated operation at Oyigbo, following directives by the Commissioner of Police, Rivers State Command, CP Olugbenga Adewole Adepoju.
Those arrested were Ezekiel Emmanuel, 44, from Benue State; Chukwuma Mbanefor, 51, from Anambra State; Nicholas Diala, 65, from Imo State; Ndubuisi Uwakwe, 49, from Abia State; and Ifeanyi Nwakwo, 51, from Imo State.
The Command said the arrest represented another significant operational success in its ongoing efforts to dismantle criminal networks operating in the State.
According to the Police, preliminary investigation indicated that the suspects were allegedly involved in kidnapping operations within Rivers State.
The suspects, during interrogation, allegedly confessed to their involvement in kidnapping and further admitted participating in several operations carried out in Kom-Kom, Railway, Obeama and Afam communities.
The Command said investigation was ongoing, with efforts intensified to identify and apprehend other members of the suspected syndicate who may be connected with the criminal activities.
The Police boss said the operation reflected the implementation of operational directives and the intelligence-driven policing strategy of the Inspector-General of Police, IGP Olatunji Rilwan Disu, psc, NPM.
Adepoju reaffirmed the Command’s determination to sustain aggressive intelligence-led operations against kidnapping, cultism, armed robbery and other violent crimes across Rivers State.
He warned kidnappers and other criminal elements operating in the State that there would be no safe haven for them, stressing that the Command would relentlessly pursue, arrest and ensure that those found culpable were brought to justice.
The Commissioner further assured residents of the Command’s commitment to protecting lives and property, urging members of the public to remain vigilant and cooperate with security agencies in the fight against crime.
He appealed to residents to provide the Police with credible and timely information capable of assisting security operatives in preventing criminal activities and apprehending suspected criminals.
The Command urged members of the public who may have useful information on the activities of the suspected kidnapping syndicate or other criminal elements to contact the Police through its emergency lines, assuring that such information would assist ongoing investigations.
King Onunwor
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