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Tinubu pledges to oil & gas sector will safeguard, enhance investments value

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By David Torough, Abuja

President Bola Tinubu has assured that his administration will continue to provide the needed interventions in the oil and gas industry in line with the provisions of the Petroleum Industry Act (PIA).

The President spoke when he received a delegation from the Chevron Corporation, led by Mr.

Clay Neff, President of Chevron International Exploration and Production on Tuesday in Abuja.

Tinubu said Nigeria would strengthen its long-standing partnership with the multinational company in line with the evolving dynamics in the oil and gas industry.

He welcomed Chevron’s commitment to build on its investments in shallow and deep water operations in Nigeria, noting the company’s ongoing $1.

4 billion drilling project with the Nigerian National Petroleum Company Limited (NNPCL).

He also commended Chevron for its dedication to reducing its carbon footprint in the country.

”You must see the PIA as a legacy law. We assure you of quick interventions and turnaround on any issue you may have in your operations in our country.

”Nigeria is proud of the 60-year partnership with Chevron, and we believe this partnership will be strengthened to add mutually-beneficial value for the benefit of your shareholders as well as the living standards and economic opportunities of our population,” the President said. 

In his remarks, Mr. Neff pledged that the company would continue to operate in full adherence to the highest standards, even as it meets its investment commitments in Nigeria.

He highlighted the company’s contributions to domestic gas supply, noting the delivery of 25% gas through a joint venture with NNPC Limited.

He also said Chevron was scaling up its investments in the country with its recent efforts in a new phase of development to include: “the conversion, under the Petroleum Industry Act, of all the NNPCL/Chevron Nigeria Limited Joint Venture (JV) Oil Mining Leases (OMLs) and Agbami OML 127 to Petroleum Mining Leases and Petroleum Prospecting Licences (PPLs).

Entry into OPL 215 block to boost deep-water development opportunities; signing of 20-year renewal of three deepwater leases; commencement of seismic data acquisition in several deepwater leases; commencement of life extension work on the Agbami project, and, in partnership with NNPCL, securing of $1.4 billion financing to fund the NNPCL/CNL JV infill drilling programme between 2022 to 2026, which includes the drilling of 37 wells in the shallow offshore and onshore Escravos area and associated facilities.”

Mr. Neff further informed the President that Chevron’s average annual tax and royalty remittances over the past three years had reached $3.4 billion.

”The bold steps you have taken since you assumed office are quite impressive. We are encouraged by our partnership of over 60 years, and we look forward, God willing, to continue that partnership for many decades to come.

”We are also looking at other opportunities as well, while operating with the best environmental practices. We will continue to grow our traditional oil and gas business because we know the countries where we operate are in need of those products, and the world needs those products,” he said.

Foreign News

Man Bites Off Part of Another Man’s Ear On Train

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A fight on a German train saw a man bite off a piece of another man’s ear, police said on Monday.

The incident occurred on a Deutsche Bahn train between the south-western cities of Mannheim and Stuttgart.

An argument broke out after an unknown man accused a 43-year-old man of looking at his partner.

The former bit the ear of the 43-year-old, who retaliated by biting the man’s finger.

According to police, the unidentified man and his companion were able to leave the train at the central station in Stuttgart and fled.

Police said that they are searching for the man’s identity.

The 43-year-old was taken to the  hospital, where the piece of his ear was sewn back on.

(dpa/NAN)(www.nannews.ng)

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Foreign News

Israeli strike hits hospital in Iran’s Kermanshah

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A hospital in the western Iranian city of Kermanshah was reportedly struck by an Israeli airstrike, Iranian media said on Monday.

A video published by the newspaper Shargh showed a damaged intensive care unit, with blood-stained hospital beds visible in the footage.

An Israeli army spokesperson stated that the reports are under investigation.

Under international humanitarian law, hospitals are granted special protection as civilian facilities and may only be targeted if there is clear evidence they are being used for military purposes.

Israel says its military campaign inside Iran is now in its fourth day, aimed at thwarting the country’s nuclear and ballistic missile programs.

(dpa/NAN)

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NEWS

Midterm Appraisal of Akpabio-led Tenth Senate

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When Godswill Obot Akpabio, Senator representing Akwa Ibom North-West District, was elected as the President of the 10th Senate on 13th June 2023, there were high expectations from his distinguished colleagues and the Nigerian public. The expectations were based on Akpabio’s glittering political resume and track record at the state and federal levels.

Two years later, the accomplishments of the Upper House under his leadership justified his election and validated the expectations.

Stability in the Senate

An appraisal like this takes into account both tangible and intangible indicators. Watchers of parliament know that the Presiding Officer is just first among equals and serves at the pleasure of members.

Therefore, the role requires great political sagacity and astuteness to perform.

Because the politics in a vibrant Parliament is rather unpredictable, stability becomes a priority in the hallow chamber since nothing can be achieved under chaos.

The 10th Senate has been politically stable and united in the past two years despite the occasional tension and distractions typical of a democratic setting.

The distractions became occasions for Akpabio to demonstrate his tremendous leadership capacity, tolerance, diplomacy and courage.

Recall when an allegation arose that the 2024 budget had been padded with N3.7 trillion, representing more than 10 percent of the entire budget of N28.78 trillion. Akpabio ensured that the allegation was addressed transparently in the full glare of live television. After an exhaustive debate during which the allegation could not be substantiated, the Senate decided to suspend the author of the allegation, Senator Abdul Ningi (PDP-Bauchi) for three months for “violations of legislative rules, allegations of misconduct and unethical behaviour for the interview he granted on BBC media on the 2024 Appropriation Act.”

Another case is that of Senator Natasha Akpoti-Oduaghan(PDP-Kogi), who was suspended for six months for “total violation of the Senate Standing Rules and for bringing the Presiding Officer and entire Nigerian Senate to public opprobrium.”

Despite those incidents, Akpabio has retained the trust of his colleague-Senators and sustained the cohesion of the multi-party Assembly. It is noteworthy that the 10th Senate, on three occasions, passed a Vote of Confidence in Akpabio’s leadership. This showed that those distractions were properly managed.

There have been changes in the composition of the Body of Principal Officers, but the changes were not on account of internal crises in the Red Chamber. Barely four months after the inauguration of the 10th Senate, Senator Oyelola Ashiru (APC-Kwara) was elevated from his post of Deputy Chief Whip to replace Senator David Umahi (APC-Ebonyi) as Deputy Leader of the Senate. Senator Umahi exited the Senate to take up an appointment as Minister of Works.

Senator Onyekachi Nwebonyi(APC-Ebonyi) was consequently made the Deputy Chief Whip. That was in October 2023. By the following month, November, Senator Abba Moro ( PDP-Benue) replaced Senator Simon Nwadkwon (PDP-Plateau) as Minority Leader, while Senator Osita Ngwu (PDP-Enugu) replaced Senator Darlington Nwokocha (Labour Party-Abia) as Minority Whip. Both Nwadkwon and Nwokocha were sacked from the Senate by the Court of Appeal.

In July 2024, the Senate removed Senator Ali Ndume (APC-Borno) as Senate Chief Whip, acting on the directive of his party, the All Progressives Congress (APC). He was replaced by Senator Mohammed Tahir Monguno (APC-Borno).

Akpabio’s leadership has ensured the red chamber is stable and conducts proceedings to produce optimal results from its statutory functions.

Legislature/Executive Relationship

The 10th Senate and the 10th National Assembly, under the Chairmanship of Godswill Akpabio, have maintained an excellent relationship with the other arms of government, particularly the Executive. The collaboration with the Executive has been seized by the usual critics to mock the 10th Assembly as a “rubber stamp” of the Executive. But Akpabio’s leadership team has remained focused on the ultimate goal of providing good governance through productive synergy with the Executive.

Legacy Achievements

The stability within the parliament and cordial relationship with the Executive through collaboration have yielded good fruits through the passage of legislation and motions that impact the lives of Nigerians.

Nigerians across the political divide lauded the Local Government Financial Autonomy Act, which grants local governments greater control of their resources, laws establishing Regional Development Commissions to drive development initiatives concerning economic, social and infrastructural development in each of the six geopolitical regions in the country and the National Minimum Wage ( Amendment) Act, 2024 which raises the minimum wage from 30,000 naira to 70,000 naira.

There is also the Students Loans (Access to Higher Education) (Repeal and Re-enactment)Act, 2024, which establishes the Nigerian Education Loan Fund (NELFUND) to grant students zero-interest loans for higher education and the Nigerian tax reform legislation, which comprises the Nigeria Tax Bill, Nigeria Tax Administration Bill, Joint Revenue Board (Establishment) Bill, and the Nigeria Revenue Service (Establishment) Bill.

The overall objectives of the Tax Reform bills are to stimulate economic growth, improve tax compliance and foster a more equitable tax system.

The 10th Senate has considered and passed many establishment bills for universities and other tertiary and agricultural Institutions across the country.

These are just a few. In all, the 10th Senate, within two years, introduced 844 bills, out of which 107 are now at the committee stage while 206 are awaiting first reading. A total of 409 bills are at the second reading stage, while the Upper House has passed 96 bills, out of which 56 have been signed into law by the President.

The Senate has already indicated that, in the second half of 2025, it will prioritise the review of the 1999 Constitution for which a 47-member Constitution review/amendment panel headed by the Deputy Senate President, Barau Jibrin, has been set up. Nigerians can look forward to fundamental constitutional reforms that will touch on the creation of a State Police, greater women’s inclusion in governance through the provision of special seats in parliament and comprehensive electoral reforms.

Oversight/Security

The 10th Senate takes very seriously its oversight function. Its various committees have been reaching out to government Ministries, Departments and Agencies(MDAs) under their respective jurisdiction.

To further underscore its concerns about the state of security in the country, besides the several interactions with the Security Chiefs and increased budgetary allocation, the Senate in May, took a step further by setting up a special panel headed by the Senate Leader, Opeyemi Bamidele, to convoke a National Summit on security aimed at finding a way out of the rampant killings in the country.

Akpabio’s Senate Presidency is delivering on governance and with the continued support of his distinguished colleagues, more legacy achievements abound to the credit of the 10th Senate and the 10th National Assembly in general.

***Awoniyi, media aide to Senate President, writes from Abuja

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