Day: May 30, 2024

The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Thursday announced the signing of a settlement agreement facilitating the divestment of ExxonMobil’s stake in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Plc.

This is coming two years after the divestment plan was announced.

The NNPC Ltd., in a statement said the agreement involved MPNU, Mobil Development Nigeria Inc., and Mobil Exploration Nigeria Inc.

‘Settlement agreement between NNPC Ltd. and MPNU, Mobil Development Nigeria Inc., and Mobil Exploration Nigeria Inc. signed regarding the proposed divestment of a 100 per cent interest in MPNU to Seplat Energy Offshore Limited,’ the NNPC stated.

This development comes after a directive from President Bola Tinubu to the Ministry of State for Petroleum Resources (Oil) and NNPC Ltd. on May 28, to resolve the divestment issue that stalled the Seplat and ExxonMobil deal over two years.

Tinubu had assured the ExxonMobil delegation that the Federal Government was committed to resolving
the divestment issues between NNPC Ltd. and Seplat Energy.

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri said the President had given a clear directive to him and the NNPC Ltd. Group Chief Executive Officer, Malam Mele Kyari to resolve the issue of divestment, which they were doing their best to achieve.

Lokpobiri earlier revealed that Nigeria lost 34 billion dollars in the last two and a half years due to the fall in production from the assets being divested by ExxonMobil to Seplat Energy.

He said the assets declined from 600,000 barrels per day (bpd) to current 120,000bpd, leaving a shortfall of 480,000bpd.

This, he said, amounted to 34 billion dollars loss at a conservative 80 dollars per barrels, in the last two and a half years.

In February 2022, Seplat announced an agreement to acquire ExxonMobil’s 40 per cent stake in MPNU, expecting the transaction to be completed in the second half of the year.

However, on May 19, 2022, the Nigerian Upstream Petroleum Regulatory Commission
(NUPRC) declined to approve Seplat’s proposed acquisition, citing ‘overriding national interest.’

Two months later, Seplat reported that NNPC Ltd. had secured a court injunction preventing ExxonMobil from selling its assets in Nigeria.

This opposition led former President Muhammadu Buhari, to reverse his initial authorisation for the acquisition on August 10, 2022, shortly after granting approval.

Amid the delay in securing approval, Seplat extended the Share Sale and Purchase Agreement (SSPA) with ExxonMobil for the acquisition of its stake in MPNU in May 2023.

On May 17, Seplat indicated progress in acquiring MPNU assets, and a week later, the company extended the SSPA again.

With the recent signing of the settlement agreement, Nigeria could add at least 700,000bpd to its current daily crude oil production volume, to hit about two million bpd before the end of the year.

Source: News Agency of Nigeria

The Secretary to the Government of the Federation (SGF), Sen. George Akume, and the National Chairman of the ruling All Progressives Congress (APC), Abdullahi Ganduje, have lauded President Bola Tinubu for giving Nigeria a purposeful leadership.

They said this at a book launch in commemoration of the president’s one year anniversary in office.

The book which was written by two academics, Bolu Folayan and Ajibolu Balofine, chronicled Tinubu’s political journey, his triumphs and successes.

The book is titled, ‘365 Days of Bola Ahmed Tinubu’s Presidency: Resetting the Strategic Foundation for a New Nigeria.

It examines the President’s ‘stunning political success’ by leveraging on his ‘prowess in strategic communication management’.

Speaking on Tinubu’s sterling leadership qualities in the last one year, Akume who was also a former governor of Benue lauded the federal government in fight against Boko Haram.

The SGF noted that the criminal activities of kidnappers are being tackled by the law enforcement age
nts.

He commended Tinubu for his patriotism by fostering national cohesion across the country.

‘There is no one that is in doubt of Tinubu’s giant strides in the last one year. The Federal Government under president Tinubu’s leadership has defeated Boko Haram terrorists.

‘I praise him for his courage in driving economic policies aimed at bringing long-term prosperity to Nigerians.

‘In just one year, he has built many roads across Nigeria and other critical infrastructure like the Abuja Metro Rail,’ Akume added.

Mr Abdullahi Ganduje, the immediate-past governor of Kano State, said Tinubu has demonstrated remarkable leadership in the face of adversity by resetting Nigeria on the path of growth and development.

Prince Arthur Eze eulogised Tinubu for standing up to state governors in trying to reform the country’s local government system.

The oil tycoon accused governors of cornering local government funds, thereby depriving the third tier of government of development.

Recently, the federal government sue
d the 36 state governors at the Supreme Court for tampering with funds released from the Federation Account for the benefits of local governments.

The event was attended by many top government officials and political associates of Tinubu.

Source: News Agency of Nigeria

The Federal Government and the International Organisation for Migration (IOM) have facilitated the safe return of 29 out of 120 Nigerians stranded in Sudan.

The Federal Commissioner, National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI), Alhaji Tijani Ahmed, stated this at the reception of the returnees on Thursday in Abuja.

Ahmed explained that the voluntary return of the 29 Nigerian emigrants comprising of 18 females including five minors and five adult males with two minors, became necessary due to the crisis in Sudan.

He also said that about nine voluntary returnees would be airlifted from Sudan in the next one week.

‘We are here at the Nnamdi Azikiwe International Airport to receive the returnees from Sudan. We want to ensure that our people returned safely and in dignity.

‘The National Commission for Refugees Migrants and Internally Displaced Persons in collaboration with the IOM is doing everything possible to ensure that this 120 were returned to the country,’ he sa
id.

Ahmed said the Commission was also making arrangement to ensure the safe return of about 17 Nigerians in Algeria, eight in Tunisia and some other ones in other countries in the next few weeks.

He added that the Commission with IOM had facilitated the return of about 1, 950 Nigerians between January and May.

‘Also in 2003, the Commission and partners returned over 7,000 Nigerians from various countries back to the country,’ Ahmed added. .

He, therefore, appreciated IOM and other partners for their supports, both financially and morally towards ensuring that Nigerians, who live far away in many countries were returned safely and in dignity.

The News Agency of Nigeria (NAN) reports that the returnees were profiled and given some kits including refreshments.

Source: News Agency of Nigeria

Mr Charles Ebuebu, Director General of the National Broadcasting Commission (NBC), has commended the innovation and excellence of SLTV, indigenous Nigerian satellite pay television, in ensuring competitive value delivery.

He made the commendation when Dr Ifeanyi Nwafor, Managing Director, Metro Digital Limited, operator of SLTV, and his management team paid him a courtesy visit on Thursday at NBC Headquarters in Abuja.

The visit was to brief the regulatory body on SLTv’s content offerings and innovations, and as well as efforts in ensuring quality and affordable service delivery to subscribers.

According to Ebuebu, as the nation witnessed the launch of the SLTV earlier in the year, the broadcast industry and subscribers are looking forward to experiencing the values it promises.

He lauded the brands commitment to innovation and excellence, and therefore pledged the commission’s unbiased stance in ensuring that ingenuity and competition thrived in the broadcast industry.

‘As a regulator, one of our mandat
es is to encourage competition in the broadcast sector that brings innovation, allows local players to thrive and to build an economy around the broadcast sector.

‘So we are very excited to have SLTV come in as a player in that space with its innovation and brand.

‘In compliance with the rules of the NBC, we will definitely support them in the effort to bring new innovation as a local player in that space.

‘What the NBC can do and will do is to establish a level playing field for all players; there is not going to be discrimination, where you have a major player with different rules.

‘We are going to put a level playing field so that price will come to play, and whatever features you bring, that will be an edge for competition rather than a dominant position.

‘As we speak, we are reviewing our rules and regulations in that space and we are bringing up policies that will open up the industry, allow innovation, services and features to thrive,’ he said.

The NBC helmsman, who received the visitors in compa
ny of his management team, said the commission would be conducting an inspection visit to SLTV office as part of its regulatory functions.

He said the visit was to obtain first-hand information on the newly launched project, assess its operations, and ensure compliance with the Nigeria Broadcasting Code.

Earlier in his remark, Nwafor expressed appreciation to NBC for opening space for other players to come into the industry, which was fostering competition and innovation.

‘I have to thank the Federal Government and NBC for the effort they made over the last few years to put regulations in place to end the monopolistic practices of the dominant players.

‘It is based on those amendments and those new regulations that we are able to emerge and have a chance to play in this industry.

‘We believe that the Nigerian market is very big and we believe that our people can do a whole lot and there is a big opportunity for any person that wants to participate in the industry.

‘I want to thank NBC for dealing with s
ome of the issues that have held the industry down for a very long time.

‘I believe this is the dawn of a new age, that going forward, we are going to see a lot of innovation and more players coming into the industry to become more vibrant.

‘In due course, same way our music and movies industries are making waves all over the world, our broadcast industry will also do , not just in Nigeria but all over the world,’ he said.

Nwafor explained that 11 channels out of the 54 channels on SLTV were dedicated to local contents, which satisfies the 20 percent local content requirement by regulation.

Source: News Agency of Nigeria

The training of the inter-agency committee to monitor and evaluate the implementation of the remuneration and conditions of service of the Nigerian Police Force (NPF) commenced on Thursday in Abuja.

The News Agency of Nigeria(NAN) reports that the training programme is being anchored by the National Salaries, Income and Wages Commission (NSIWC).

The Programme tagged ‘Training Programme of Inter-Agency Committee on ‘Monitoring and Evaluation of the Implementation of Approved Allowance and Off-setting of Outstanding Pension Arrears, Death Benefits and Other Related Matters’ of the NPF.

Ekpo Nta, Chairman and Chief Executive Officer, NSIWC, said the programme was to train all the selected inter-agency participants in the monitoring and evaluation of the implementation of the remuneration and conditions of service of the NPF.

Nta said it would be recalled that the Federal Executive Council(FEC) on Dec. 15, 2021, approved the allowances, payment of outstanding death benefits, etc, to the NPF.

‘You will recall
that as a fallout of the #End-SARS protests in October 2020, President Muhammadu Buhari requested the NSIWC to expedite action on the review of the remunerations of NPF.

‘The NSIWC undertook in-depth nationwide studies of the issues relating to the remunerations and conditions of service of the NPF through open and informal interactions with various stakeholders including the top hierarchy rank and file of the NPF.

‘Also, the Ministry of Police Affairs, Federal Ministry of Finance, Budget and National Planning, the Budget Office of the Federation and the Office of the Chief of Staff to the President.

‘The commission during the assignment, obtained detailed information on the NPF budget requests, approved appropriations and actual disbursements for a period spanning ten years. It also looked at conditions of service and other related matters.’

He said all of the commission’s detailed recommendations were approved by the FEC at its meeting on Dec. 25, 2021, with an effective commencement date of Jan. 1, 20
22.

Nta said some highlights of the approvals included an increase of the rent subsidy, a review of shift duty/supervision allowance for all entitled police personnel, a new peculiar allowance, and tax waivers for all junior police personnel as enjoyed by the military,

He said others are payments of outstanding death benefits for the uninsured period of 2013 to Aug. 24, 2021, not covered under the Group Life Assurance.

‘Others are the payment of outstanding benefits to entitled personnel for the uninsured period of 2013 to 2020 not covered under the Group Personal Accident Insurance.

‘ Payment of outstanding burial expenses of personnel for the period from January 2012 to July 2021 and priority payment of future Group Life Assurance premium in future budgets to cover immediate payment of death benefits to beneficiaries

‘Priority payments of annual insurance premiums for Group Personal Accident Insurance to cover immediate payment of benefits to beneficiaries; and Property Insurance to provide cover for t
he repairs/replacement of damaged police infrastructure.

‘Government insisted that the Federal Ministry of Finance, Budget and National Planning engage with the NPF to work out a realistic annual overhead budget that would enable them to pay approved non-regular allowances.’

The chairman said it was also approved for NSIWC to examine and present recommendations in respect of retirement benefits (pension and exit packages) for the NPF and other related agencies.

He added that NSIWC was also to institute a mechanism for the regular monitoring of the payment of salaries and allowances of the NPF through electronic and physical platforms in line with extant regulations and conditions of service.

‘ Today marks the commencement of the exercise to train all the selected inter-agency participants in the monitoring and evaluation of the implementation of the approvals. ‘

Nta said the training programme was approved by FEC for the commission to monitor and evaluate the outcome of all the approvals.

‘We have given
time to implement this approval and the training session we will have from today will be a nationwide monitoring to see the outcome.

‘We will speak to all layers of people involved to ensure if these approvals have not been implemented we want to know why and if we know why we can now provide answers.

He called on the personnel of the NPF who were members of that committee, the Police Service Commission and the Ministry of Police Affairs to be diligent and honest in their evaluation.

‘This is because it affects the lives of human beings that operate the security architecture of our country. We need to be serious about this exercise. ‘

The Inspector- General of Police (I-G), Mr Olukayode Egbetokun, thanked the NSIWC on behalf of NPF for their efforts in ensuring the exercise was achieved.

Egbetokun, represented by Deputy Commissioner of Police, Mr Arotu Pere, said he believed the commission would do even more for the NPF.

Source: News Agency of Nigeria

The Centre for Citizens with Disabilities (CCD) says there is need for journalists to improve their reporting and coverage of disability-inclusive justice issues.

According to it, equitable access to the justice system and a comprehensive review of legal processes to better serve persons with disabilities (PWD) is imperative.

Mr David Anyaele, Founder of CCD and the Special Adviser to the Abia State Governor on Disability Issues, spoke on Tuesday at a capacity building workshop for media practitioners with the theme, ‘Effective Reportage on Disability Inclusive Justice System’.

The training was organised with the support of VOICE.

The workshop is part of the implementation of the group’s project titled ‘Enhancing access to justice, democratic governance and promoting political participation among women, elderly and youths with disabilities in Nigeria ‘.

In his presentation on the topic: ‘Understanding Disability Rights and Advocacy”, Anyaele said journalists need to understand the issues that affect PWD
s to enable sensitive and appropriate reportage of disability-issues.

Anyaele said that journalists need the right knowledge, using the right terminologies to produce quality reports about disability issues and rights.

He urged journalists to use their reports to advocate the rights of PWDs.

Ms Christiana Njoku, the Project Officer of CCD, also highlighted the need to build media capacity on how to report PWD issues using the correct terminology.

‘When issues of PWDs regarding accessing justice is reported rightly, PWDs will be confident enough to come out to speak.

‘So, the media should portray PWDs issues correctly such that media practitioners can make their reportage inclusive for PWDs.

‘Media partitioned should be able to portray, and use the right technologies when it comes to portraying issues of PWD and when issues of PWD are portrayed,it should not be something that comes out once in a while,” Njoku said

She also urged the media to make stories of PWDs more visible in the media space especial
ly issues facing PWDs in the area of justice.

While delivering her presentation on the topic: ‘Media Ethics and Responsibility in Disability-Inclusive Justice Reporting’, Ms Blessing Oladunjoye, Publisher of BONews Service, highlighted the need to mainstream disability-rights issues into topical issues in the newsrooms.

‘It is important to spotlight issues regarding persons with disabilities, and also note that disability can be mainstreamed into topical issues.’

‘If there is limited knowledge of disability issues it will be difficult for journalists to provide quality and indepth reportage of disability issues”.

Oladunjoye urged journalists to be fair, balanced and accurate in their reports, avoiding stereotypes and biases.

‘When reporting on disability-inclusive justice issues, it is important that the right stories get out there, and not sensationalism.

‘We know the numerous challenges that exist when PWDs seek to access justice are cumbersome and could be frustrating, and our responsibility as jour
nalists should be to promote accessibility in the process.’

Mrs Florence Austin, Finance/Admin Manager,CCD, asserted that PWDs have the right to access justice and such should be upheld.

‘We expect media practitioners present at this training to prioritize issues of disability gap reportage as well as mainstreaming disability in their activities and programs to sensitize the general public.

‘It is our mandate and we are interested in pursuing such an interest.

‘CCD will not relent on what we are doing in promoting disability inclusion, the right of persons with disability and we are open to media collaboration, support and partnership.

‘We are promoting right base approach and together we will all be able to build an inclusive society that doesn’t discriminate and doesn’t leave anyone behind but promotes inclusion and participation for all,’ Austin said.

Miss Angela Okon, a participant, said the training had further enlightened her on current trends within the disabilities space.

According to her, she
has learnt some terminologies she can use and those that can be sensitive.

She commended CCd for the initiative in championing issues on disabilities.

Source: News Agency of Nigeria