BUSINESS
NNPC Weekly: 24-hour Operation in Petrol Filling Stations in Abuja
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its week with the introduction of 24-hour operation for over 40 ppl filling stations in Abuja as part of efforts to ensure the disappearance of fuel queues.
The development which ensured round-the-clock operations of these selected filling stations in the Federal Capital Territory (FCT) saw the officials of the NNPC Ltd embark on several unannounced visits.
In one of such unannounced visits in the wee hours, within the week, officials of the company, led by the Group General Manager, Group Public Affairs Division, Malam Garba Muhammad noticed a much-improved situation, with much of the queues vanished.
At the Airport Road branch of the A. A. Rano Filling Station which has over 60 pumps, only two motorists were found filling their car tanks while majority of the fuel attendants in other filling stations were waiting for customers.
A motorist who identified himself as Jika Wakili said the efforts by the NNPC authorities to restore normalcy to the fuel situation were highly commendable.
Wakili urged the management of the company to sustain the tempo and ensure the situation gets even better across other locations in the country.
“The situation is easing now and we are happy with the efforts of the NNPC Management.
“This shows that the leadership of the organisation is working very hard to resolve this issue.
“They should not rest on their oars please,” Wakili added.
Other motorists spoke on the improved fuel situation.
Also in the week, the Minister of State for Petroleum Resources, Chief Timipre Sylva called on the United States (U.S.) Government to provide funding support for Nigeria to develop its natural gas resources to serve as alternative source of energy for Europe.
Speaking at a meeting with the U.S. Secretary of Energy, Jennifer Granholm, on the side-line of the just concluded CERA Week in Houston Texas, Sylva said the collaboration between the U.S. and Nigeria in this area would be of immense benefits to both countries as well as the entire globe.
According to Sylva “It is in the interests of the global community that there is alternative supply of gas to Europe.
“The challenge for us to achieve this feat has been lack of infrastructure and we need funding to develop infrastructure for our gas and we believe that the U.S. can provide that funding”.
He told Granholm that Nigeria had abundance of natural gas resources that can meet European gas demands, noting that the problem has been access to funding.
He said as part of efforts to boost gas supplies across the African continent, the country had embarked on the construction of 600 kilometers of the Ajaokuta- Kaduna- Kano (AKK) gas pipeline designed to take gas to Europe via North Africa.
The minister therefore called on the U.S. to provide the needed funding for infrastructure for the exploitation of the huge natural gas in Nigeria.
Speaking on the burning issue of global energy transition, Sylva said for the energy transition programme to be meaningful, the peculiar problems of Africa must be factored into the entire energy transition arrangement.
In her remarks, Granholm expressed the readiness of the U.S. to cooperate with Nigeria to develop her renewable energy sector noting that her government was not against the development of gas or other sources of energy.
She said the U.S. government would be willing to support Nigeria in developing her renewable energy sources and therefore called for a coordinated strategy to pin down specific areas of focus where funding and other supports would be required.
“Investors are interested in funding renewable energy in Nigeria but they are interested in knowing possible areas of focus. We have to work out a structured way to access the fund,” Granholm said.
Sylva who was in an earlier meeting with the U.S. Assistant Secretary of State, Harry Karman, expressed Nigeria’s willingness to develop the different sources of renewable energy such as wind, solar and hydrogen.
In a related development, the Federal Government said its inability to meet the oil production quota allocated to Nigeria by the Organisation of Petroleum Exporting Countries (OPEC) was due to the lack of investments in the oil and gas sector of the economy.
It said the lack of investments was due to the recent spate of exits by International Oil Companies (IOCs) such as Shell and ExxonMobil from Nigeria’s oil and gas sector.
Speaking at the just concluded CERA Week in Houston, Texas, the Minister of State for Petroleum Resources, Chief Timipre Sylva, said the speed with which IOCs were withdrawing investments in hydrocarbon exploitation had contributed significantly to Nigeria’s inability to meet its OPEC target.
Nigeria’s OPEC quota is pegged at about 1.8 million barrels per day but the country produces between 1.3 and 1.4 million barrels per day.
“Lack of investments in the oil and gas sector contributed to Nigeria’s inability to meet OPEC quota. We are not able to get the needed investments to develop the sector and that affected us.”
Sylva also cited security challenges as another major factor that contributed to the lack of significant growth of the sector, adding that the drive towards renewable energy by climate enthusiasts had discouraged funding for the industry.
The minister, however, called for a change of attitude stressing that in decades to come hydrocarbon would continue to play a central role in meeting the energy needs of the world.
He told delegates at the event that though Nigeria was in full support of energy transition, the country and the African continent should be allowed to develop at its own pace.
This, he said would enable African countries meet the energy needs of the over 600 million people who had no access to any form of power in Africa.
In keeping with its philosophy of touching the lives of citizens in positive ways, the Nigerian National Petroleum Company Limited (NNPC Ltd) has donated state-of-the-art building complexes to the Ahmadu Bello University (ABU) and Bayero University Kano (BUK) to serve as Centre for Inland Basin Studies and Civil Engineering Department respectively at both institutions.
The projects which were inaugurated and handed over to the management of both schools recently are part of the Company’s Corporate Social Responsibility programme.
The Centre for Inland Basin Studies is a storey building equipped with modern lecture halls, library and seminar rooms, and an equipment section and laboratories, including a dedicated section for automation. It is domiciled at the Geology Department of the ABU and will serve as the hub for research on hydrocarbon resources in the inland basin.
Speaking at the event, the Group Executive Director, Corporate Services, Hajiya Aisha Katagum, who represented the Group Managing Director/Chief Executive Officer of NNPC Ltd, said such support to institutions of higher learning were critical to the sustained growth of the Nigerian petroleum industry.
“As a technology driven energy company, NNPC believes that real progress can only be possible, when corporate organisations support and strengthen educational institutions, with new knowledge and better ways of delivering services to humanity.
“As global energy transition continues to gain traction, NNPC as National Oil Company, the economic backbone, will continue to collaborate with Nigerian universities to support meaningful research, technology development and innovation across different fields of our operations especially as NNPC transit to a fully commercial energy company of global excellence.”
The Chancellor of ABU, Alhaji Kabiru Bala, who commended NNPC for the timely intervention, spoke on the significance of the project.
Some students of the two beneficiary institutions also expressed delight at the intervention and how the projects would enhance their learning.
The Group Executive Director, Corporate Services, was accompanied by the Group General Manager, Engineering and Technology Division, General Manager, Chad Basin Operations, Coordinator, NNPC Intervention Projects and Manager, Corporate Social Responsibility, among others.
Also present at the event were the Deputy Vice Chancellor, Administration, Professor Ahmed Ibrahim, the Registrar, Bursar, Deans of Faculties, Heads of Departments, and the Chairman of Zaria Local Government Area.
Meanwhile, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) assured stakeholders in the aviation sector that there was no scarcity of Aviation Turbine Kerosene (ATK), also known as aviation fuel.
The Authority gave the assurance at an investigative hearing of the House of Representatives’ Adhoc Committee on High Cost of Aviation Fuel at the National Assembly Complex on Thursday, in Abuja.
NMDPRA Executive Director, Distribution Systems, Storage and Retailing Infrastructure, Mr Ogbugo Ukoha, who spoke at the hearing, dispelled insinuations that the rise in the price of the product was a result of short supply.
Ukoha stressed that there was robust supply of ATK with enough stock to last for 34 days.
Putting the issue of ATK price hike and its effect on the safety of airline operations in perspective,
Also speaking, the Director General of the Nigerian Civil Aviation Authority, Capt. Musa Nuhu, stated that the steep rise in the price of ATK from N190 per litre barely a year ago to N670 per litre was a worrisome trend.
Nuhu said the development could sooner or later begin to affect the safety of operations.
He noted that under normal circumstances, fuel was supposed to be responsible for about 30 per cent of an airline’s cost of operation but was currently taking up about 50 per cent.
“For me, as the regulator of the industry, this is of significant concern for me, God forbid, I don’t want to come before this committee to explain why A or B happened”
The Chairman of Air Peace and Vice Chairman of the Airline Operators of Nigeria (AON), Mr Allen Onyema, said he was surprised at the report from the NMDPRA that there was 34-day sufficiency because airlines have had to cancel flights over the past few weeks owing to non-availability of ATK.
“We are subsidising what each and every one of you is using in flying. But we cannot continue, we cannot last for the next 72 hours doing that as we are indebted.
“We don’t want AMCON to come after us. I am surprised he said they have enough volumes of ATK to last for 34 days”
In his intervention, Group Managing Director/Chief Executive Officer of NNPC Ltd., Malam Mele Kyari, pledged to collaborate with the operators, regulators, marketers and other stakeholders in the aviation sector to ensure effective distribution of ATK.
The NNPC boss assured that it was the statutory responsibility of the national oil company to eliminate any gap in the supply chain of petroleum products and guarantee nation’s energy security.
Kyari corroborated the position of the NMDPRA that there was enough stock of ATK in the country.
He also advised operators of commercial airlines to develop proper commercial arrangements with ATK suppliers in order to hedge themselves from price fluctuations arising from market volatility.
On his part, the Deputy Speaker of the House of Representative and Chairman of the Adhoc Committee, Rep. Idris Wase, commended the GMD for his exceptional leadership qualities and appealed to all stakeholders to make the Petroleum Industry Act (PIA) work.
He said that the committee would get to the bottom of the issue as mandated by the House of Representatives.
“All we want is to make the PIA work and make Nigerians not to regret. More investigations will be done as to the reality of what is on ground.
“As a parliament we will carry out our investigation and ensure that Nigerians benefit from whatever resources God has made available to them”.
Still in the week under review, NNPC Ltd joined the rest of the world to mark the International Women’s Day (IWD) by reflecting on the importance of breaking the bias, which was the theme of the celebration.
IWD is a global day celebrating the social, economic, cultural and political achievements of women. The day also marks a call to action from both men and women for accelerating gender parity.
The celebration was led by the Company’s Group Executive Director, Corporate Services, Mrs Aisha Farida Katagun.
Also present were the Group General Manager, Human Resources, Mr Yahaya Yunusa and other top management staff of the company to lend their support.(NAN)
By Tambaya Julius, Abuja
The Nigeria Customs Service (NCS), Kebbi Area Command, has commenced fresh efforts to revive legitimate cross-border trade along the Kamba–Tungan Gyado corridor through stronger cooperation with the Nigerien Customs administration.
The initiative followed a meeting between the Kebbi Area Command and a delegation from Nigerien Customs on Thursday, where both sides examined emerging challenges affecting trade and explored measures to improve commercial activities along the border.
The engagement focused on strengthening bilateral customs cooperation, enhancing revenue generation and easing the economic difficulties confronting communities on both sides of the Nigeria-Niger border.
The Customs Public Relations Officer of the Kebbi Area Command, Mustapha Mubarak, disclosed this in a statement.
He said the meeting was attended by the Customs Area Controller (CAC), Kebbi Area Command, Mahmoud Ibrahim; Comptroller, Douanes du Dosso, Niger Republic, Abdoulaye Vincent; and other key stakeholders.
During the engagement, Vincent commended the Kebbi Area Command for hosting the Nigerien delegation and called for stronger collaboration between the customs administrations of Nigeria and Niger.
He particularly stressed the need to promote legitimate trade through the Kamba corridor, which he described as increasingly important amid disruptions along traditional regional trade routes.
According to him, insecurity along routes through Burkina Faso and Togo, combined with the prevailing diplomatic situation involving the Benin Republic, has significantly affected cross-border commerce and economic activities across the region.
He said the circumstances had increased the importance of the Kamba corridor as an alternative route for legitimate trade between Nigeria and Niger.
Vincent appealed for greater support for legitimate exports through Kamba, noting that increased commercial activities would not only boost government revenue but also help cushion the economic difficulties being experienced by border communities.
Responding, the Kebbi Area Controller, Mahmoud Ibrahim, welcomed the initiative and reaffirmed the command’s commitment to deepening its relationship with the Nigerien Customs administration.
Ibrahim said the command would continue to facilitate legitimate cross-border trade while ensuring that traders and other stakeholders understood and complied with established customs procedures.
He pledged to intensify sensitisation programmes for traders and relevant stakeholders, particularly on customs requirements, while encouraging greater use of the Kamba corridor for legitimate commercial activities.
The CAC noted that increased trade through the corridor would have wider economic benefits, including improved revenue generation, employment creation and enhanced livelihoods for residents of border communities.
He said the command would continue working with relevant stakeholders to create an enabling environment where legitimate businesses could thrive.
As part of efforts to strengthen bilateral cooperation, Ibrahim announced plans to visit the Nigerien Customs Command in Dosso, Niger Republic.
He said the proposed visit would provide an opportunity for both customs administrations to hold further discussions on practical measures for facilitating legitimate trade and addressing challenges confronting businesses operating along the border corridor.
The planned engagement is expected to further strengthen coordination between the two customs administrations and improve the movement of legitimate goods between Nigeria and Niger.
The initiative also received support from traditional and trade stakeholders in Kamba.
The Sarkin Shikon Kamba, Mamuda Zarumai, expressed appreciation to the Customs Area Controller for creating a conducive environment for legitimate business activities in the community.
Zarumai commended Ibrahim for demonstrating concern for the welfare and economic prosperity of residents of Kamba and prayed for the success of the partnership between the Nigerian and Nigerien Customs administrations.
Other stakeholders at the engagement included the Chairman, Dendi Ganda; Sarkin Shikon Kamba, Mamuda Zarumai; and Secretary-General, SNAT Gaya, Abubakar Inusa, among others.
The National Insurance Commission (NAICOM) has unveiled the Insurance Sector Strengthening Programme (ISSP), to advance insurance penetration, financial inclusion and innovation within Nigeria’s insurance ecosystem.
The Commissioner for Insurance, Olusegun Omosehin, during the unveiling on Thursday in Abuja, said the programme offered a framework for advancing the growth and stability of the Nigerian insurance sector.
Omosehin said the programme also focused on capacity building, gender inclusion, youth engagement, and Micro, Small, and Medium Enterprises (MSME) and value-chain development.
He said the ISSP placed significant emphasis on awareness and education, adding that the insurance market was directly linked to public understanding and trust.
He said no insurance market could flourish where consumers do not appreciate insurance as a practical tool for financial protection and risk management.
According to him, the programme’s emphasis on capacity building and the future competitiveness of the country’s industry depends on the quality of its human capital.
He said as technology evolved and customer expectations changed, insurance professionals must continue to develop the skills and competencies required for excellent service delivery.
“The proposed training and professional development initiatives will strengthen technical expertise, improve professionalism, and enhance performance across the insurance value chain.
“No sector can achieve sustainable growth when large segments of society remain sidelined or underrepresented.
“Women are a significant economic force in Nigeria, while young people represent the future of our nation and our industry.
“Bringing these two groups into the mainstream of insurance through tailored products and innovative engagement will enhance the sector’s relevance.
“The programme further acknowledges the central role of micro, small and medium enterprises in national economic development,” he said.
He called for stronger collaboration among government, regulators, insurers and development partners to deepen insurance penetration in Nigeria.
The Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, Sen. Mukhail Abiru, said the programme was critical in Nigeria’s economic transformation.
Abiru who was represented by the Senior Legislative Aide, Victor Inedu, said a strong and resilient insurance industry was essential to protecting lives and assets, supporting businesses and encouraging investment.
He said that Nigeria’s insurance market remained significantly underdeveloped with millions of individuals and businesses still uninsured or underinsured.
The senator commended NAICOM’s recapitalisation exercise and other reforms aimed at creating stronger, better-capitalised and globally competitive insurance institutions.
He said legislation alone would not transform the sector, adding that effective implementation, stronger governance, consumer protection, innovation and public trust were equally necessary.
He urged stakeholders to move insurance “from the margins to the mainstream” of Nigeria’s economic development.
Ebelechukwu Nwachukwu, Chairman, Nigerian Insurance Association (NIA), represented by Director-General, NIA, Bola Odukale, said ISSP aimed to increase insurance penetration from about five per cent to 10 per cent of GDP by 2030.
She described the target as ambitious but achievable through sustained collaboration, innovation and institutional commitment.
She said increasing insurance penetration should not be viewed merely as an effort to grow premium income but as a means of expanding financial protection.
The D-G pledged to mobilise NIA members and provide data, expertise and support for initiatives aimed at improving innovation, consumer confidence and access to affordable insurance products.
In his keynote, Dr. Kola Adesina, Group Managing Director, Sahara Power Group, said the industry would continue to underperform if it relied heavily on compulsory insurance and legislation to drive growth.
Adeshina said Nigeria’s youthful population represented a huge market opportunity for insurers, but warned that products that did not reflect the aspirations and realities of young Nigerians would struggle to gain acceptance.
He urged insurers to follow the money by understanding where Nigerians spend their resources and by developing products that give consumers a compelling reason to spend their money on insurance.
Funmike Sojinuga, Trade Commissioner for Global Affairs Canada in Nigeria, expressed interest in deepening cooperation with Nigeria’s insurance sector.
She said a strong insurance industry was critical to investment, economic stability and development.
According to her, investors do not only follow opportunities but also should have confidence in regulation, governance and the ability to manage risks effectively.
She said a stronger insurance sector could support infrastructure development, renewable energy projects, businesses and livelihoods while helping Nigeria mobilise long-term capital.
Sojinuja noted that the growing Nigeria-Canada relationship provided opportunities for greater cooperation in insurance, regulatory development and innovation.
The Canadian representative said discussions were already underway with stakeholders in Canada’s insurance sector to provide a platform for collaboration and knowledge sharing.
She said the ultimate impact of a stronger insurance sector would extend beyond increased premiums, adding that it help attract investment, strengthen industries and promote shared prosperity. (NAN)
From Mike Tayese, Yenagoa
Bayelsa State Governor, Senator Douye Diri, on Monday commissioned a second branch of Premium Trust Bank in the Etegwe/Edepie roundabout axis of Yenagoa, describing the bank’s expansion as a significant boost and practical demonstration of investor confidence in the state’s economy.
Diri said the state was entering a new phase of economic possibilities with the coming on stream of its 60-megawatt independent power plant, which he noted would provide a major boost to businesses and industries.
According to the Bayelsa governor, reliable power will stimulate enterprise, attract investments, create jobs and improve the quality of life of the people.
“It will also increase the need for credible and innovative financial partners,” he said.
Diri also stated that the improved economic environment would require strong financial institutions capable of providing innovative banking solutions and easier access to capital for businesses and individuals.
He urged the bank to expand its presence beyond the state capital to local government headquarters and other commercial and university communities across the state, including Amassoma and Otuoke.
The state’s helmsman noted that traders, farmers, fishermen, artisans, civil servants, women, entrepreneurs and young business owners needed accessible modern financial services to grow their businesses and contribute to the state’s economy, adding that the expansion of banking services across the state would deepen financial inclusion, facilitate commerce and support the administration’s prosperity agenda.
“When banking grows closer to the people, commerce becomes easier, enterprise expands and prosperity spreads.”
He urged citizens and business owners to take advantage of the peaceful and secure environment created by his administration to build sustainable enterprises while commending Premium Trust Bank for its professionalism, innovation and commitment to customer service.
The bank’s Managing Director and Chief Executive Officer, Dr. Emmanuel Emefienim, said the opening of the new branch reaffirmed the bank’s long-term commitment to Bayelsa State and its people.
He said the bank would continue to combine physical branches with digital banking solutions to make financial services more accessible to residents, businesses and institutions across the state.
Dr. Emefienim commended the Diri administration for promoting investment, security and an enabling business environment, assuring that the bank would continue to support businesses, empower individuals and contribute to the state’s economic development.
Also, on Monday, Senator Douye Diri inaugurated the state Advisory Council.
He explained that on assumption of office in 2020, he inherited party-based local government caucuses but decided to review it and changed it to an all-inclusive advisory council cutting across various political parties.
He said as governor, he does not know it all, stressing that he needed the advice and support of experienced Bayelsans to move the state forward.
Diri also noted that the peace and development enjoyed in the state was as a result of collective efforts.
His words: “When I came in as governor, we had local government caucuses but we reviewed it and decided to change the name to advisory council.
“What we are doing here is not only for politics as membership cuts across political parties. They are people that have what it takes to advise the government. We need the advice of experienced citizens.
“There are no limitations as they can advise on everything. I believe that when we put our heads together it is always better than one head.
“You are being inaugurated to advise the governor and government so that governance will be streamlined across all levels.”
He announced that all members of the national and state assembly from the state, all state executive council members, party working committee members, council chairmen and others will be statutory members of the council.
Responding on behalf of the Advisory Council, a former Deputy Governor, Hon. Peremobowei Ebebi, appreciated the governor for finding them worthy to serve.
He described Governor Diri as humble for recognizing the need for an advisory council, saying they are ready to serve to the best of their ability.
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