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2021: NNPC in Retrospect

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In retrospect, the Nigerian National Petroleum Company (NNPC) Limited recorded some remarkable achievements in 2021 including the signing into law of the Petroleum Industry Act (PIA) by President Muhammadu Buhari.


There are other major achievements in the industry which had placed the country on the part of success since the first discovery of crude oil in 1956 at Oloibiri, in present day Bayelsa.


The oil and gas industry had since grown to become the bane bedrock of Nigerian economic and a major source of national development.


The industry contributes about 30 per cent of the nation’s gross domestic product, GDP, over 70 per cent of government revenue and 90 per cent of foreign exchange earnings.


With this steady beat over the past six decades and the attendant contribution to the national coffers, the Nigerian oil and gas industry has evolved; with Nigeria becoming the largest oil and gas producer in Africa.


According to the defunct Department of Petroleum Resources (DPR), Nigeria has a total of 159 oil fields and 1,481 operating wells.
Nigeria currently has the largest gas reserve in the African continent and the world’s fifth-largest exporter of liquefied natural (LNG).


According to the defunct DPR, Nigeria has a proven gas deposit of 206.53 trillion cubic feet; the gas reserve is projected to increase to 230 trillion cubic feet by 2030.
The new figure represented a major increase of 3.37TCF in proven natural gas reserves; a 1.66 per cent rise from the 203.16TCF recorded on Jan. 1, 2020.


Sarki Auwalu, who was Director of DPR, in a breakdown, said of the 206.53TCF, Associated Gas was 100.73TCF and Non Associated Gas 105.80TCF.
The impact of the unexpected emergence of the COVID-19 pandemic on the global oil and gas industry in 2020 brought huge losses to the industry; consequently, in the last two years, the global oil and gas industry suffered a two-pronged setbacks caused by the imbalance in oil supply/demand and price deflation.


This global issue of course did not happen without a reverberating effect on the Nigerian oil and gas industry and that has not put the nation’s economy in a good stead.


In January, Chief Timipre Sylva, Minister of State for Petroleum Resources, declared 2021 to 2030 as the Decade of Gas Development.
Sylva said the initiative was to transform Nigeria to a gas-powered economy by 2030.
“Our efforts will continue to focus on gas to transmute Nigeria from the conventional dependence on white products to a cleaner, more available, accessible, acceptable, and affordable energy use in gas.
“This will not only cushion the effects of current deregulation but also create enormous job opportunities for Nigerians”.

The NUPRC is in charge of upstream petroleum regulatory activities while the NMDPRA is responsible for oil and gas activities in the midstream and downstream sectors.
NNPC Ltd. was incorporated as a Companies and Allied Matters Act (CAMA) company on September 22 in line with provisions of the PIA.


The NNPC Limited and its subsidiaries would operate under CAMA 2020 without recourse to Government funds, declare dividends to its shareholders and retain 20 per cent of profits to grow its business.
The new company is to be the supplier of last resort for security reasons and all associated costs shall be for the account of the federation.
In October, the NNPC was given approval for the reconstruction of 21 federal roads across the six geopolitical zones of the country.
The approval was given at the FEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

Briefing State House correspondents at the end of the council meeting, the Minister of Works and Housing, Mr Babatunde Fashola said that the construction works on the 1804.6 Kilometers roads is a strategic intervention under the Federal Government Road Infrastructure and Refreshment Tax Credit Scheme.
He explained that the Executive Order 7 allows the private sector to deploy in advance the taxes they would pay for infrastructure development.


OTHER ACTIVITIES
The year 2021 witnessed intensified calls for global transition to cleaner sources of energy and reduction in investment in fossil fuels exploration activities which saw the major International oil companies divesting from crude oil to gas and other renewable resources of energy.
Many of the companies have changed their names from oil companies to energy companies to reflect their current positions as they move to become carbon neutral by 2045.


It is to this end that the world leaders gathered at the United Nations Climate Change Conference (COP 26) in Glasgow, Scotland in November with discussions on energy transition dominating the conference.
President Buhari who addressed the conference demanded for energy justice for Nigeria and other developing countries with hydrocarbon resources.

He said there was need to exploit the available resources as a pathway to attain the net-zero carbon objectives by 2050.
The president noted that even though Africa accounted for only about three per cent of the global carbon emission, the continent still had the responsibility to join the world in combating climate change.
According to him, Nigeria has identified its abundant gas resources as its fuel for energy transition which informed the declaration of the 2021 to 2030 as the “Decade of Gas” by the government.


He also said that the enactment of the PIA would attract investment for the enhancement of gas utilisation. This is in alignment with the various incentives granted to investors.
In November, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, announced that government would remove subsidy on Premium Motor Spirit from 2022.
The minister said that government plans to replace it with a monthly N5,000 transport grant to about 40 million poor Nigerians.


Analysts believe that removal of subsidy would make the price of petroleum products in Nigeria, be at par with its African neighbours which would discourage smuggling.
He said that the 2022 deadline is realistic as the impact of the subsidy removal might be mitigated with the coming on stream of the 650,000bpd Dangote Refinery, Bua Group Refinery, Waltersmith Refinery and other modular refineries.
Nigerians also witnessed an unprecedented hike in the price of Liquefied Petroleum Gas (LPG), also known as cooking gas, in 2021.


The increment forced some low-income families to go back to the use of firewood and stove, which was a setback to the government’s aspirations to deepen gas utilisation in the country.
As at January, the price of cooking gas ranged from N4,500 to N5,000 depending on the location, but in a few days to the end of the year in December, the marketer sold the LPG for between N8,500 and 10,000.


Marketers attribute the hike to global supply challenges, high international prices, limited availability of foreign exchange and high exchange rates.
The GMD/CEO of NNPC, Kyari gave reasons for the increase and assured the nation of NNPC’s commitment to bring down the prices.
On Nov. 5, Well head 1 in Nembe, Bayelsa operated by AITEO Exploration and Production spilled its contents, causing serious damage to the environment.

The company, working with local and international experts, was able to stop the leakage on Dec. 8, while clean up and investigation into the incident was carried out.
Also, NNPC presented a symbolic tax credit cheque to the Minister of Works and Housing Mr Babatunde Fashola, in his office in Abuja.
At the event, the minister dispelled insinuations that the NNPC was taking over road construction from the ministry. (NAN)


BUSINESS

Nigeria Can’t Build $1trn Economy without Women’s Participation – Shettima

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Vice-President Kashim Shettima says Nigeria’s ambition to build a one-trillion-dollar economy cannot be achieved without the full economic participation of women.

Shettima said this on Wednesday in Abuja during the Second National Gender Inclusion Conference, #SheIsIncluded 2026, held at the conference hall of the Presidential Villa.

The vice-president was represented by the Special Adviser to the President on Special Duties, Dr.

Aliyu Modibo.

The conference, organised by the Presidential Committee on Economic Inclusion in the Office of the vice-president, was themed, “Designing for Delivery: From Financial Inclusion to Economic Transformation for the Nigerian Woman”.

Shettima insisted that the one-trillion-dollar economic ambition of President Bola Tinubu’s administration would not be achievable without women’s participation in the nation’s economy.

“We have set our sights on a one-trillion-dollar economy. But what kind of economy can we build if half of our people cannot participate fully in creating it?” he said.

The vice-president outlined measures to move women from financial exclusion to productive economic participation.

He said only 47 per cent of Nigerian women had formal financial accounts, compared with 58 per cent of men.

Shettima described the disparity as millions of women whose businesses lacked access to affordable capital and whose entrepreneurial potential remained largely untapped.

He said evidence showed that Nigeria’s economic output could be significantly higher if women participated equally in the economy.

He insisted that investing in women was a growth strategy, not an act of charity.

“The question is no longer whether we can afford to invest in women; it is whether we can afford not to. Our answer is no!” he declared.

He said the federal government was moving from policy declarations to an “architecture of delivery” through initiatives designed to connect women and young people to skills, capital and markets.

Shettima cited the National Income Activation Initiative and the Women in Energy Partnership with the World Bank, among the initiatives.

According to him, it is positioning women to participate as entrepreneurs, engineers, investors and leaders in the energy transition.

Shettima, however, cautioned against measuring progress through national averages alone, saying aggregate figures could conceal the continued exclusion of women in rural communities.

He challenged policymakers and programme implementers to identify who was being reached, who remained excluded, what interventions were working and who should be held accountable when programmes failed.

“That is the difference between announcing inclusion and governing for it,” Shettima said.

He urged financial institutions, fintech companies, investors and development partners to treat gender-intentional finance as a viable market rather than concessionary charity.

“Women’s enterprises are demand; their savings are capital; their ideas are innovation,” he added.

He challenged state governments to measure success not merely by the number of women enrolled in programmes but by businesses expanded, jobs created and households whose resilience improved.

“Inclusion must be measured by changed lives, not attendance registers,” he said.

The vice president also demanded stronger accountability, insisting that every commitment from the conference should have an owner, a measurable target and a deadline.

He said successful interventions should be tracked, reviewed and scaled through mechanisms including the proposed National Gender and Financial Inclusion Awards.

Earlier, the Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, affirmed that one-trillion-dollar ambition would remain incomplete unless women were fully integrated into the economic transformation agenda.

Sulaiman-Ibrahim identified poor last-mile delivery, unsuitable lending models, inadequate gender-disaggregated data, insecurity and unpaid care work as major barriers to women’s economic participation.

The minister disclosed that the Nigeria for Women Programme Scale-Up had expanded its women’s affinity-group model to 4.5 million women organised into 300,000 groups nationwide.

She said under the first phase, more than 560,000 women were mobilised into over 26,000 groups, saving more than N4.9 billion of their own resources and accessing about N15.6 billion in livelihood grants.

For his part, Technical Adviser to the President on Economic and Financial Inclusion, Dr Nurudeen Zauro, provided a clear outline of the government’s new delivery strategy.

Zauro announced four platforms aimed at transforming financial inclusion into measurable economic participation.

He identified the platforms as digital trust infrastructure, data for accountability, blended finance and the National Income Activation Initiative.

Citing Economic and financial inclusion data, Zauro said Nigeria’s overall financial inclusion rate stood at 74 per cent of adults, but a nine-percentage-point gender gap persisted.

According to him, the disparity in formal access stood at 11 percentage points.

He said the challenge was no longer simply getting women to open bank accounts, but ensuring that access translated into affordable credit, productive finance, enterprise growth and increased income.

“A woman may hold an account and still lack affordable credit; receive a loan and lack a market; own a business and lack the records or collateral to scale it.

“Access is the beginning of inclusion; it is not its destination,” he said.

The high point of the open-day session was the unveiling of the National Income Activation Initiative, delivered in partnership with the Federal Ministry of Women Affairs.

It is an initiative aimed at converting inclusion into income through skills acquisition, markets, digital tools, finance and business support.

Also, Dr Zauro led the Vice President and other dignitaries to the exhibition centres showcasing the innovations of the ShesIncluded initiative. (NAN)

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NNPC Urges PENGASSAN to Strengthen Regulatory Discipline in Oil Sector

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The Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company (NNPC) Ltd., Bashir Ojulari, has urged PENGASSAN to strengthen regulatory discipline to promote stability and growth in Nigeria’s oil and gas sector.

Ojulari made the call on Wednesday in Abuja at the opening of 2026 Petroleum and Natural Gas Senior Staff Association (PENGASSAN) Energy and Labour Summit (PEALS 2026).

The summit, organised by PENGASSAN, is themed, “Strengthening Regulatory Frameworks as a Catalyst for Stability and Growth in Nigeria’s Oil and Gas Industry.

Ojulari said effective regulation depended on professionalism, governance and accountability.

“A regulatory framework, however well written, is only as strong as the people who apply it every day.

“So, before we speak of frameworks and policy, we must speak of the people who give them life.

“Our people remain our most important asset, and the professionals represented by PENGASSAN contribute daily to our operations, our safety record, our governance and our national energy security,” Ojulari said.

He said PENGASSAN members contributed significantly to industry operations, safety, governance and national energy security, stressing that NNPC Limited remained committed to building a people-centred organisation where employees could thrive.

Ojulari said the company’s values, including enterprise-first mindset, execution excellence, profitable growth and partnership, depended on how employees were treated, motivated and engaged.

He urged industry stakeholders to base decisions on facts, sound governance and established rules, while protecting the long-term interests of their organisations, the sector and nation.

“Are we challenging waste, indiscipline and recklessness wherever they threaten the stability and growth of our sector?” he asked.

He, therefore, stressed that regulatory discipline should become a shared standard nationwide.

The GCEO said sectoral stability required effective regulation and enforcement, as well as a valued and fairly treated workforce, adding that NNPC Limited was improving its employee value proposition.

He urged PENGASSAN leaders and members to engage government and industry stakeholders constructively, while keeping workers’ welfare and dignity central to engagements and policy discussions affecting the sector.

He said Nigeria’s oil and gas industry would thrive when strong regulatory frameworks were matched by disciplined execution, responsible conduct and trusted partnerships across all levels of operations.

Ojulari reaffirmed the organisation’s commitment to working with PENGASSAN and other stakeholders to promote stability, growth and sustainable development across Nigeria’s oil and gas industry.

Also speaking, the Minister of Labour and Employment, Dr. Muhammad Dingyadi, called for robust regulatory frameworks to promote stability, investor confidence and growth in Nigeria’s oil and gas industry.

Dingyadi said strong regulations were essential for responsible resource management, workers’ protection and improved competitiveness, stressing that stable labour relations remained critical to stability in the sector.

“Strong regulatory frameworks are the bedrock upon which stability, investor confidence and equitable growth are built,” Dingyadi said.

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Dangote Marks Youth Day, Strengthens Skills, Social Footprint at Obajana

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Dangote Cement Plc, Obajana, has marked International Youth Day with a renewed commitment to advancing youth development through its array of empowerment programmes, while strengthening its positive social impact.

A statement issued by the company’s Corporate Communications Department said the event attracted more than 100 participants, comprising Sustainability Champions, graduate trainees, management trainees, NYSC Corps members and other invited guests.

 The statement said the event served as a platform for young people to showcase innovative ideas, exchange knowledge, and explore practical solutions to sustainability and workplace challenges.

Presentations focused on topics ranging from recycling and environmental sustainability to technology-driven solutions such as the use of drones to enhance safety in mining operations.

The Head of Human Assets Management (HAM) & Administration, Adeniyi Azeez, commended the participants for their creativity and enthusiasm.

He encouraged the youths to continue developing their skills, embrace innovation, and take advantage of opportunities that support their growth and career development.

Also addressing participants, the Head of Social Performance, Ademola Adeyemi, emphasized the importance of youth involvement in shaping a sustainable future.

He urged young people to remain passionate about sustainability, community development, and responsible leadership, noting that today’s ideas can become tomorrow’s impactful solutions.

The programme featured innovation pitches, sustainability-focused presentations, poetry, music performances, games, and interactive sessions that kept participants engaged throughout the event.

A documentary highlighting previous International Youth Day activities also inspired participants and reinforced the value of youth participation in driving positive change.

Participants described the event as inspiring and impactful, citing improvements in their confidence, public speaking abilities, and commitment to advancing sustainability initiatives within their communities.

The statement said the successful celebration of International Youth Day 2026 shows Dangote Cement Plc commitment to youth empowerment, innovation, and sustainable development.

It added that the event demonstrated that when young people are provided with the right platform and encouragement, they can develop practical solutions and become active contributors to a more sustainable future.

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