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Nigeria’s Targets $2.5bn Investment from Gas Flare Commercialisation Programme says NUPRC
By Joel Oladele, Abuja (With Agency Reports)
The Nigeria Gas Flare Commercialisation Programme (NGFCP) has the potential to unlock 2.5 billion dollars investment in oil and gas sector, The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said yesterdayThe commission is also set to hold its first Nigeria Upstream Oil and Gas Decarbonisation Forum in March, to align its upstream operations with global decarbonisation goals and carbon monetisationChief Executive of NUPRC, Gbenga Komolafe, stated this during the African Upstream Forum at the ongoing 2025 Nigeria International Energy Summit (NIES), on Wednesday in Abuja.
Komolafe, who spoke in a session entitled: “Imperative of Regulatory Efficacy in Optimisation of Upstream Activities,’’ said the NUPRC stood as a powerful catalyst for the growth, sustainability, and global competitiveness of the sector.He said the gas flare commercialisation programme would also generate huge revenue and create significant number of jobs.“As the global focus shifts toward a low- carbon future, NUPRC is embedding sustainability into seven upstream operations, mitigating environmental risks and protecting communities.“Key actions include: Managing methane and GHG emissions; fostering energy efficiency and carbon credits, promoting investments in Carbon Capture Utilisation and Storage (CCUS) and Enforcing Environmental Social and Governance (ESG) goals,’’ he said.He said the industry was contributing 95 per cent of foreign exchange earnings and 70 per cent to government revenue, unlocking employment opportunities, and positioning Nigeria as a formidable leader in the global energy arena.“At the heart of NUPRC’s efforts is the growth of Nigeria’s hydrocarbon reserves and production in a cleaner manner for enhanced revenue generation.“In the short-term, we have set new benchmarks for oil and gas production and significantly strengthening the nation’s energy security,’’ he said.Komolafe said the commission was also committed to enriching domestic gas utilisation and expanding gas infrastructure to meet Nigeria’s growing energy demands.The commission, he said would ensure that every Field Development Plan (FDP) included a firm commitment to fulfilling gas delivery obligations and increasing gas supply to the domestic market to meet rising local demand.“As part of our plan to advance deep-water development, we will promote the creation of deep-water clusters, fostering synergies in facility use to unlock the vast potential of Nigeria’s deep-water resources, while reducing costs and leveraging economies of scale,’’ he said.He said the commission was set to hold the maiden Nigeria Upstream Oil and Gas Decarbonisation Forum in March, 2025, adding that it would present its governance and regulatory framework for decarbonisation in the Nigerian upstream sector at the forum.“This forum will provide a platform for key stakeholders to engage in meaningful discussions on decarbonisation and carbon monetisation, while allowing regulators, agencies, and companies across the globe to share their valuable insights and experiences.“Nigeria’s success in the upstream oil and gas sector is anchored on a predictable and enabling regulatory environment.“Through regulatory excellence, collaboration, and visionary planning, NUPRC is poised to guide Nigeria toward a future defined by energy security, economic growth, and environmental responsibility,’’ he said. OPEC Chief Tasks Africa on Unlocking 120bn Barrels of Oil Reserves At the global oil scene, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais has tasked Africa to unlock its proven oil reserves of over 120 billion barrels. Haitham Al-Ghais, OPEC Secretary-General, made this known while delivering a keynote address titled “Driving Cross-Continental Investments: Scaling Africa’s Energy Frontier”, at the ongoing Nigeria International Energy Summit (NIES) 2025 in Abuja, Nigeria.The eight edition of the energy summit, which opened on Monday and ends on Thursday, has ‘’Bridging continents: Connecting investors with Africa’s Energy Potential’’ as theme.He also said that Africa with around 18 trillion standard cubic metres of natural gas, was a testament to the continent’s crucial role in the global energy landscape.“The world will need more of this oil in the future. Therefore, it is critical that the African oil and gas industry attracts the level of investment necessary to unlock this great potential”, Al-Ghais added.He said that the vast resources at Africa’s disposal should not be disregarded or neglected merely to accommodate the energy transition agenda pushed by Western nations.The secretary-general expressed appreciation to the leadership and people of Nigeria for their hospitality and thanked the summit organisers for their efforts in organising this year’s edition.According to him, OPEC’s market research and forecasting points to the importance of Africa.“Additionally, we know from Nigeria’s countless contributions to OPEC’s successes, how rewarding it is to work in this great nation. We encourage all potential investors to look at Nigeria’s oil and gas industry,”.Al-Ghais highlighted the strong and enduring relationship between OPEC and Africa, noting that half of OPEC’s member countries are from the continent, including Nigeria, the most populous African nation, and Algeria, the largest in geographical size.Other African OPEC members include Congo, Gabon, Equatorial Guinea, and Libya.He also lauded Africa’s youthful and dynamic population, which presents a strong workforce for the oil sector.“It’s crucial to discuss how we can unlock the potential that this great continent holds, and how to create an investment-enabling environment that attracts the capital necessary to fully realize that potential,” he said.“The investment needs of the oil industry are substantial, with cumulative requirements amounting to 17.4 trillion dollars by 2050.“This is why stability in the oil market is essential for investors to plan effectively,” he added.He highlighted OPEC’s views on some important topics relevant to both the global industry and Africa, including future of global oil demand, energy investment and finance, as well as the ever-evolving issue of climate change and energy transitions.PETROAN Rules out Strike in Demand for N100bn Bridging ClaimsMeanwhile, the Petroleum Retailers Outlet Owners Association of Nigeria (PETROAN) has urged members not to shut down operations.This is following the association’s conflict with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over bridging claim issues.Dr Joseph Obele, National Public Relations Officer (PRO), PETROAN made the call after an emergency national executive meeting on Tuesday in Abuja.Obele said that PETROAN would dialogue with NMDPRA over the outstanding payments of the bridging claims rather than shutting down operations.“While acknowledging the frustration and concerns of members regarding the unpaid bridging claims totalling N100 billion, PETROAN firmly believes that a shutdown will have devastating consequences.“These consequences include fuel scarcity, economic disruption andhardship for the Nigerian people,” he said.He said that PETROAN reaffirmed its commitment to dialogue rather than industrial action.“The association urges all parties to engage in constructive engagement and good-faith negotiations to resolve the issue,” he said.According to Obele, a lot will be achieved through dialogue, especially when parties identify mutually beneficial solutions, build trust and strengthen relationships.“A lot will also be achieved if we avoid costly and damaging shutdowns and ensure the continued stability and growth of the downstream petroleum sector.“PETROAN also commends President Bola Tinubu’s efforts to reform the petroleum sector, promoting transparency, accountability and economic growth.“The association encourages all stakeholders to support and encourage these reforms, rather than sabotaging them ” he said.Obele urged the authorities responsible to facilitate the prompt payment of outstanding bridging claims to do so.He said that this would help to alleviate the financial burden on members and ensure the continued smooth operation of the downstream petroleum sector.He commended the National President, Dr Billy Gillis-Harry, for promoting the stability and growth of the downstream petroleum sector through dialogue, cooperation and innovative solutions. (NAN)
By Laide Akinboade, Abuja
As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.
A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.
“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.
In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.
“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.
Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.
“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.
He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.
Torough, the new Editor has had a steady rise in the Newspaper in the last five years.
A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor. He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment.
Torough has attended several journalistic workshops and trainings to properly equip himself for the task ahead.
The statement also said the Management named Eze Okechukwu as Deputy Editor.
Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and DAILY ASSET Newspaper correspondent covering the Senate, having joined the organization in 2021.
Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.
Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.
Aside from his journalistic excellence, he has a great deal of passion for sports.
From Ngutor Dekera, Kaduna and Aliyu Askira, Kano
Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna.
The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils. The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.
By David Torough, Abuja
The Economic and Financial Crimes Commission (EFCC) said former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami, will face a team of interrogators at its office daily throughout December.A credible source in the EFCC said on Monday that the daily appearance was part of an ongoing investigation into the whereabouts of an alleged 490 million dollars Abacha loot secured through a Mutual Legal Assistance (MLAT) request.
The source said that Malami, who was summoned for interrogation by the EFCC on Saturday, was barred from leaving Nigeria for the next one month.According to the source, one of the conditions for his release on Saturday was that he should report daily to the EFCC Headquarters in Abuja for further interrogation.The source said Malami would have to appear daily at the anti-graft office due to the volume of the investigation and the seriousness of the charges against him.”We seized his passport, it is the normal routine during investigation, but he has to report at the EFCC headquarters in Abuja every day for the next month.”He will be reporting for further investigation throughout December.”He will be reporting every day, starting from Dec. 1st to Dec. 31st.He will appear before the team of investigators for the entire month of December.”He will be reporting to EFCC for investigation for the period because of the volume of the investigation and the seriousness of the charges against him,” the source added.According to the source, a fact sheet on the former minister revealed that Malami had several issues to clarify with the EFCC within the coming weeks.“We have asked him to explain the whereabouts of the $490 million Abacha loot secured through MLAT.“We didn’t say he stole money, but he should account for the loot. This is one of the issues he will clarify to our investigators.”The commission cited the large volume of documents he must review and the need for extensive interviews as reasons for seizing his passport.The source said EFCC would not engage in a war of words but would release its findings after a thorough investigation.Malami, in a statement by his media aide, Mohammed Doka, on Monday in Abuja, however, described the EFCC investigation as a political witch‑hunt.He confirmed he honored an EFCC invitation on Nov. 28, describing the engagement as fruitful and expressing confidence that the probe would vindicate him.Malami described the EFCC’s allegations as baseless, illogical and devoid of substance, insisting they collapse under factual scrutiny.
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