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Oil block Licencing: NUPRC Extends Deadline for pre-qualification Documents Submission 

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the extension of the deadline for the registration and submission of pre-qualification documents for the 2024 oil block licensing round.

Mr Gbenga Komolafe, Commission Chief Executive (CCE), NUPRC, announced the extension in a statement issued on Wednesday.

Komolafe said the registration and submission of pre-qualification documents which was initially scheduled to close on June 25, 2024 had been extended by 10 days, and would now close on July 5,  2024.

According to him, the data access, data purchase, evaluation, bid preparation and submission initially scheduled to open on July 4 and close on Nov.

29, will now start on July 8 and close on Nov. 29, 2024 as previously scheduled.

He said all other dates in the published 2024 Licencing Round Schedule remained the same unless otherwise communicated.

“In pursuit of the Commission’s commitment to derive value from the country’s abundant oil and gas reserves and increase production, the Commission has been working assiduously with multi-client companies to undertake more exploratory activities.

“This is to acquire more data to foster and encourage further investment in the Nigerian upstream sector,” he said.

Komolafe said that as a result of additional data acquired in respect of deep offshore blocks, the Commission had added 17 deep offshore blocks to the 2024 Licensing Round.

He said that further details on the blocks could be found on the bid portal.

“In accordance with the published guidelines, we had earlier indicated that some of the assets on offer should be applied for as clusters, namely: PPL 300-CS & PPL 301-CS, PPL 2000 and PPL 2001.

“Bidders are hereby advised to bid for those blocks as clusters or as single units; it is optional,” the statement quoted Komolafe as saying.

Recall that some deep offshore blocks and other blocks which cut across onshore, were put on offer for the 2022/2023 Mini Bid Round.

Continental shelf and deep offshore terrains were also put on offer for the Nigeria 2024 Licencing Round.

In order to vacate entry barriers, the Commission had sought and obtained the approval of President Bola Tinubu, in line with his determination to create enabling and attractive investment regimes in the upstream oil and gas sector.

Tinubu who is also the Petroleum Minister had approved attractive fiscal regimes and also minimised entry fees for both licencing rounds by putting a cap on the signature bonus payable for award of the acreages.

“Consequently, it is necessary to ensure that the same bid criteria (in addition to the uniform signature bonus criteria) are applicable for both licencing rounds, to promote transparency and provide a level playing ground for all bidders.

”Since the criteria for the award of the oil blocks are now much more attractive than they initially were during the 2022/2023 Mini Bid Round, it is in the interest of equity and fair play to give all investors the same opportunity to bid for the assets.

”All blocks in the 2022/2023 and 2024 Licencing Rounds are available to all interested investors on br.nuprc.gov.ng and br2024.nuprc.gov.ng respectively.

“And the 2022/2023 Mini Bid Round registration phase is reopened to new applicants.

“The public is therefore invited to take advantage of this development and attractive entry terms and conditions and participate in the exercise,” the statement also quoted Komolafe as saying. (NAN)

NEWS

PCNGI Donates Four buses to FCT

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By Laide Akinboade, Abuja

The Minister of Federal Capital Territory (FCT), Nyesom Wike on Thursday received four (50 seaters) Compressed Natural Gas, (CNG), from Presidential CNG Initiative (PCNGI), in Abuja.

The Mandate Secretary Transport Secretary, Chinedu Elechi, received the buses on behalf of the FCT minister in his office.

He said the buses will be very helpful in transporting 200 people at the same time from one point to the other.

He commended the FCT Minister for his initiative and vision.

According to the Mandate Secretary, “May I, on behalf of the Honorable Minister of the FCT, receive the keys to these buses.

It was just yesterday that we talked about this when the minister asked me to represent him in the National PCNG Programme of Gas.

He continued, “This is why the Honourable Minister has built roads, bridges and is now building bus terminals. We have just commissioned two of the modern bus terminals at Mabushi and Kugbo.

“I am going to just say these buses, as good as they look, will be very helpful. We are going to get more buses, the minister is already working on that and we thank you so very much for this. It looks very nice. I’m sure both those who have private transportation and those who do not, would enjoy the ride.

“So on behalf of the Honorable Minister and the FCTA, we want to thank you and we say that you should extend our gratitude to Mr. President, whose initiative this is, and you too for your hardwork”.

Michael Oluwagbemi, Program Director/Chief Executive, Presidential CNG Initiative in his response said the FCT was chosen as a key beneficiary because of its unwavering support for the programme and its investments in transport infrastructure under Wike’s leadership.

“We identified the FCT as a major beneficiary because it has shown great innovation by investing not just in roads but in terminals. Yesterday, I called the Mandate Secretary and said, ‘Can we have it in the next 24 hours?’ He said it was doable, and here we are today. At PCNGI, our philosophy is to talk and do,” Oluwagbemi stated.

He described the buses as “foundation assets” for the operation of the new terminals and expressed hope that within the next two to three years, Abuja residents including himself would prefer leaving their private cars at home to use public transport, as seen in developed countries.

Oluwagbemi also praised Abuja as “Nigeria’s most important physical achievement since independence,” noting its rapid transformation over the past four decades and expressing confidence that the same determination would make CNG-powered transportation a national reality.

“We just left the FRSC, and they informed us that they will launch new plate number formats for both CNG and electric vehicles in September. The FRSC received one bus, but you are getting four because you are one of our biggest supporters. This is a presidential initiative Mr. President wants to see Nigerians move around cheaper, safer, and more reliably,” he said.

The hybrid buses can operate on both Compressed Natural Gas (CNG) and diesel (AGO), ensuring uninterrupted service even when CNG supply is unavailable.

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Ewhrudjakpo Felicitates Bayelsa First Lady on Birthday Anniversary

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From Mike Tayese, Yenagoa

The Deputy Governor of Bayelsa State, Senator Lawrence Ewhrudjakpo, has felicitated the Wife of the Governor, Dr. Gloria Diri, on the occasion of her birthday over the weekend.

Ewhrudjakpo, in a statement signed on his behalf by his Senior Special Assistant on Media, Mr Doubara Atasi, said Dr Gloria Diri’s birthday ceremony offers a rare opportunity to make appraisal of her very impactful social programmes and projects which have positively touched the lives of people, especially the vulnerable demographics such as women, youths and the elderly.

The Deputy Governor noted that the First Lady had used her privileged position as one of the pillars of the Prosperity ASSURED Agenda in Bayelsa State to change the narrative of many Bayelsans through skills acquisition programmes, medical outreaches and stipends to the elderly.

He also acknowledged her efforts in the area of providing entrepreneurial trainings and startups for Bayelsans in the business community, as well as being a voice for the promotion of women rights in the country.

Senator Ewhrudjakpo who used the opportunity to thank Bayelsa women for their support to the Prosperity Administration, urged them not to relent in supporting the people-oriented programmes and initiatives of the First Lady to better their lives and others in society.

The Deputy Governor prayed to God to grant Dr. Gloria Diri sound health, more wisdom and divine direction to enable her to contribute more meaningfully to the development of Bayelsa State.

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FG Making Taxation Fairer, More Beneficial to Ordinary Nigerians – Nweze

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From Godwin Okeh, Abakiliki

The senior special assistant to President Bola Tinubu on community engagement, South-East region, Chioma Nweze has said the present administration is reducing the burden on small businesses and low-income earners, and strengthening Nigeria’s revenue system.

Nweze made this known during the South-East stakeholders’ town Hall meeting/one-day sensitization of market women and traders, held at the International Conference Centre, Enugu.

She said the sweeping tax reform package of the federal government to the people of the region is aimed at simplifying compliance.

Nweze told participants that President Bola Ahmed Tinubu’s administration is determined to make taxation fairer and more beneficial to ordinary Nigerians.

According to her: “Our women, especially market women, must understand why the government collects tax, what the government does with it, and how they should pay without exploitation.

“The president has removed fuel subsidy, unified the exchange rate, and increased allocations to states. These reforms will ensure more projects are delivered to benefit citizens,” she said.

Nweze emphasized that sensitizing women was deliberate, recalling that historical revolts such as the Aba Women’s Riot of 1929 were caused by unfair taxation.

“When women are informed, they carry the message to their families and communities. We don’t want exploitative practices to return; instead, women should be empowered to benefit from government initiatives,” she said.

Responding, the Chairman of the Tax Appeal Tribunal, Southeast Zone, Chukwumeka Eze explained that four new tax acts signed into law on June 26, 2025, now consolidate more than 20 scattered tax laws.

He noted that businesses with an annual turnover below N50 million are exempted from Companies Income Tax and Value Added Tax, while minimum wage earners will no longer pay personal income tax.

“This is progressive taxation. The rich will now pay more within their means, while the poor will be protected. The days when wealthy individuals paid little tax are gone,” Eze stressed.

He added that the reforms also introduced a Tax Dispute Resolution Mechanism that allows citizens to lodge complaints free of charge, with resolutions provided within 7–14 days.

Tax professional and Chartered Accountant, Mr. Innocent Chinyere Ohagwa, said the reforms were necessary to strengthen Nigeria’s fiscal base, describing SMEs as the “lifeblood” of the economy.

“SMEs account for more than 90% of businesses and nearly 60% of jobs in Nigeria. By removing multiple taxation and unfair levies, the government is giving them space to grow, create wealth, and support economic diversification,” he said.

Zino Ugboma, representing the Nigerian Education Loan Fund (NELFUND), highlighted how tax revenues are being used to expand access to education.

He explained that undergraduates in universities, polytechnics, and colleges of education can now access tuition and living-cost loans, repayable only after gaining employment, two years post-NYSC.

“This is a direct way of showing that taxation is not just about collection, but also about giving back to the people,” Ugboma said.

DAILY ASSET reports that the forum drew officials of the Federal Inland Revenue Service (FIRS), women leaders, professionals, and community stakeholders, and ended with a call for stronger collaboration to ensure the success of the reforms.

One of the participants, Nnenna Otuonye, applauded President Tinubu for pushing a fairer system and urged Southeast residents to embrace compliance for economic growth.

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