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It’s Impossible to Recover $62b From IOCs – Sylva

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By Mathew Dadiya, Abuja

The Minister of State Petroleum Resources, Chief Timiprey Sylva has said that it would not be possible for the Federal Government to recover a whopping $62billon from International Oil Companies (IOCs) being revenue lost to oil exploration since 2003.

He, however, said that negotiation with the oil majors could arrive at an amount that would be paid but not the total sum.

The minister declared this when he spoke to State House Correspondents after the Federal Executive Council (FEC) meeting presided by President Muhammadu Buhari at the presidential villa, Abuja.

The Federal Government had through the office of the Attorney-General of the Federation, written to the oil companies on the basis of an October 17, 2018 judgment of the Supreme Court demanding various sums of money.

The apex court had in the said judgment ordered the Federal Government to immediately take steps to recover all revenues lost to oil-exploring and exploiting companies due to wrong profit-sharing formula since August 2003.

About five suits are currently before the Abuja and Lagos divisions of the Federal High Court stalling the Federal Government’s move to recover about $62bn from international oil companies.

Sylva said although, the government has started discussions on the matter, it remains a lost opportunity.

”Well, we have started discussions. Let us consider that as a lost opportunity, the money was not in a cupboard, they have taken it. Nobody can bring out that kind of money- I mean, we can’t get $62billion.

”We can maybe get something from them but not $62billion. It’s an opportunity we have lost. We have already started discussions with them but that is what is clear that it is a lost opportunity really, ” the minister noted.

The minister explained that the existing Deep Offshore Act in the country which is very old is part of the problem and needs to the repealed if the government can get it right in terms of Production Sharing Contracts with the oil majors.

He said ”Most of these laws are old already and they need to be amended. The amendment of these bills really portends a lot for us. There are a lot of missed opportunities already. The previous law provided that when oil prices went beyond twenty dollars, we are supposed to negotiate and get some additional revenues.

”We didn’t take advantage of that and of course, when we approached the oil companies, the oil companies said look, this is a lost opportunity, its not lost money because this money is not just there, it is not being kept in some cupboard.

”So, of course, it is a lost opportunity, we have to do something quickly to ensure that we don’t lose this opportunity in the future. That is why we have to ensure that this bill is passed. With this bill now, there will be some adjustments in the fiscal regime and we believe that the government will get a lot from the oil companies, especially their deep shore exploration activities.

”You know that the PSCs means that they invest the money, they recover their cost before the government begins to get some revenues from it. Unfortunately, the recovery, each time they keep investing and they keep recovering. So, if you don’t take time, you never really get to the point where you benefit at all, because, the oil companies are perpetually recovering cost. So, with the Deep Offshore Act Amendment, all those things are taken care of, ” Sylva added.

Asked if such laws will take a retroactive measure, the minister explained that: ”The amendment of the bill cannot be retroactive. Laws cannot be retroactive, we have to look forward.”

Oil & Gas

NNPC Ltd. Disclaims Fake Financial Scheme

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disowned a fake AI-generated video circulating on social media featuring a cloned voice of the Group CEO, Mr Bayo Ojulari, promoting a fictitious poverty alleviation scheme.

The Chief Corporate Communications Officer, NNPC Ltd.

, Olufemi Soneye in a statement on Thursday clarified that the company had no such investment initiative.

Soneye urged the public to disregard the video, originally shared by an account named Mensageiro de Cristo on Facebook.

“NNPC Ltd. has warned the perpetrators to cease their fraudulent actions or face legal consequences,” he said. (NAN)

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NGEP Urges Gas Reticulation In Buildings

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By Olasunkanmi Onifade

Abuja, April 29, 2025 The National Gas Expansion Programme (NGEP) has called on stakeholders to promote the integration of gas reticulation systems in estates, districts, and industrial areas, following best practices seen in developed countries.

Chairman of NGEP, Prof.

Mohammed Ibrahim, made the call on Tuesday during the Builders’ Conference and Annual General Meeting of the Nigerian Institute of Building (NIOB), FCT Chapter, in Abuja.

The conference, themed “Gas Reticulation in Building: Design, Safety, Environmental Compliance and Prospects for Builders,” focused on enhancing energy infrastructure in Nigeria’s built environment.

Ibrahim noted that with Nigeria’s vast natural gas reserves, gas reticulation offered a sustainable solution to improve energy accessibility, affordability, and reliability in homes and businesses.

“Gas reticulation in buildings presents a compelling pathway to a more sustainable, efficient, and resilient built environment.

“By prioritising sound design principles and ensuring strict adherence to safety and environmental standards, we can unlock the full potential of natural gas to drive progress,” he said.

He highlighted the key benefits of gas reticulation, including energy efficiency, cost effectiveness, versatility, and reliability.

Also speaking, the Chairman of the Council of Registered Builders of Nigeria, Samson Opaluwah, stressed the importance of capacity building for safe and efficient gas distribution.

He said this involved training engineers, technicians, and other professionals in system design, installation, and maintenance, while also strengthening regulatory frameworks and encouraging local innovation and manufacturing.

The Chairman of NIOB, FCT Chapter, Usman Okehi, emphasised the growing need to incorporate gas systems in residential, commercial, and industrial developments across Nigeria due to rising energy demands and gas availability.

According to him, with this advancement comes the need for strict adherence to design standards, rigorous safety protocols, and full environmental compliance.

“It is our responsibility as professionals and regulators to ensure these systems are functional, safe, and environmentally sound,” Okehi said.

He described the conference as a platform where stakeholders could explore the evolving landscape of gas infrastructure in building projects, share best practices, examine safety and environmental considerations, and assess future opportunities for builders in the sector.

The News Agency of Nigeria (NAN) reports that the Nigerian Institute of Building is the professional body for builders in Nigeria. It traces its origins to the Builders’ Society, established in London in 1834.

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Oil & Gas

FG Inaugurates Committee to Enhance Gas Distribution in Urban Buildings

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The Ministry of Petroleum Resources has inaugurated a Technical Working Group to enhance gas reticulation practices in Nigeria’s building industry.

The ministry’s Permanent Secretary, Amb. Nicholas Ella inaugurated the Technical Working Group (TWG) between the National Gas Expansion Programme (NGEP) and the Council of Registered Builders of Nigeria (CORBON) on Wednesday.

Reports= says that reticulation refers to the process of creating a network of pipes or tubes to distribute gas or other utilities to buildings or industrial sites.

The permanent secretary restated the importance of creating energy smart cities, saying that modern urban development relies on efficient gas and utility distribution systems,

“Most modern cities in developed countries have evolved to energy smart cities where energy, specifically gas and other utilities are piped to districts and estates.

“However, one of the key tools in creating energy smart city is the National Building
Code which, in essence, sets the guidelines on Building Pre-design, designs, construction and post-construction stages,” he said.

The permanent secretary reiterated the benefits of reticulated gas systems for households and businesses alike, adding that it ensured metered supply akin to water and electricity,

According to him, it eliminates the need for cumbersome refills, and also enhances safety by burying pipes and incorporating advanced safety equipments.

“The TWG is tasked with designing a comprehensive policy to implement best practices for gas reticulation using LPG, PNG, and Bio-Gas across Nigeria’s building sector.

“Key responsibilities include reviewing the current National Building Code, examining global gas distribution systems, and proposing quality standards for materials used in gas installations,” he said.

The permanent secretary emphasised the need for rigorous safety protocols and guidelines to ensure the efficient and safe use of gas in construction.

He urged the group to prioritise environmental sustainability in its recommendations, adding that the group is expected to submit its report by Nov. 15.

Earlier, Mr Samson Opaliwah, the Chairman of CORBON. expressed the council’s commitment to collaborate with the group to ensure safe uptake of gas for use in houses and housing estates in Nigeria.

“I assure you of the williness of CORBON to leverage the expertise and resources at her disposal to ensure that steps are put in place for gas infrastructure in buildings and estates.

“The gas infrastructure will be safe, sustainable and world-class.

” Our collective efforts will yield clear, standardised guidelines for safe and effective gas systems in buildings, matched with a skilled workforce to meet growing demands in Nigeria,” he said. (NAN)

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