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President Buhari Unveils New NNPC LTD

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President Buhari with GMD NNPC Mele Kyari

 

President Muhammadu Buhari has unveiled the new Nigerian National Petroleum Company Limited (NNPC Limited), affirming that the company is mandated by law to ensure that Nigeria’s National Energy Security is guaranteed.

Speaking at the historic occasion at State House Conference Centre, the President said Africa’s largest National Oil Company (NOC) would also support sustainable growth across other sectors of the economy as it delivers energy to the world.

At the event, which featured a Special rendition of the Theme Song ”Energy for today, Energy  for tomorrow, Energy for Everyone’‘ by an Ensemble, the president recounted how God had used him to consistently play an important role in shaping the destiny of the country’s NOC in the last 45 years.

He expressed optimism that the NNPC Limited would sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and free from institutional regulations such as the Treasury Single Account (TSA).

‘‘This is a landmark event for the Nigerian oil industry.

‘‘Our country places high premium in creating the right atmosphere that supports investment and growth to boost our economy and continue to play an important role in sustaining global energy requirements.

‘‘We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities.

NNPC directs private depot owners to sell at government approved price or be blacklisted

‘‘By chance of history, I was privileged to lead the creation of the Nigerian National Petroleum Corporation on July 1, 1977. Forty-Four (44) years later, I was again privileged to sign the Petroleum Industry Act (PIA) in 2021, heralding the long-awaited reform of our petroleum sector,” he said.

According to him, the provisions of PIA 2021, have given the Nigerian petroleum industry a new impetus, with improved fiscal framework, transparent governance, enhanced regulation and the creation of a commercially-driven and independent National Oil Company.

He said this would enable the company to operate without relying on government funding and free from institutional regulations such as the Treasury Single Account, Public Procurement and Fiscal Responsibility Acts.

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‘‘It will, of course, conduct itself under the best international business practice in transparency, governance and commercial viability.

‘‘Coincidentally, I, on the 1st of July 2022 authorized transfer of assets from the Nigerian National Petroleum Corporation to its successor company, the Nigerian National Petroleum Company Limited, and steered the implementation leading to the unveiling of Africa’s largest National Oil Company today.

‘‘I therefore thank Almighty God for choosing me to consistently play an important role in shaping the destiny of our National Oil Company from the good to the great,’’ he added.

The president, therefore, assured stakeholders in the industry that Africa’s largest NOC would adhere to its fundamental corporate values of Integrity, Excellence and Sustainability, while operating as a commercial, independent and viable NOC at par with its peers around the world.

He further stated that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, for the day days after tomorrow.

He thanked the leadership and members of the National Assembly for demonstrating uncommon courage and patriotism in the passage of PIA that culminated in the creation of NNPCL.

Minister of State for Petroleum Resources, Timipre Sylva, said with the signing of the PIA, which assured international and local oil companies of adequate protection for their investments, ”the nation’s petroleum industry is no longer rudderless”.

He said: ‘‘From the onset of this administration, Mr. President never concealed his desire to create a more conducive environment for growth of the oil and gas sector, and addressing legitimate grievances of communities most impacted by extractive industries.

‘‘While the country was waiting for the PIA, Nigeria’s oil and gas industry lost about $50 billion worth of investments.

”In fact, between 2015 and 2019, KPMG states that “only 4 percent of the $70 billion investment inflows into Africa’s oil and gas industry came to Nigeria even though the country is the continent’s biggest producer and the largest reserves.

‘‘We are setting all these woes behind us, and a clear path for the survival and growth of our petroleum industry is now before us.”

Sylva described the unveiling of NNPC Limited as a new dawn in the quest for the growth and development of the Nigerian Oil and Gas Industry, opening new vintages for partnerships.

He thanked the president for his ”unparalleled leadership, steadfastness, and unalloyed support towards ensuring that the country’s oil and gas industry is on a sound footing”.

The Group Chief Executive Officer of NNPC Limited, Mele Kyari, announced that the company had adopted a strategic initiative to achieve the mandate of energy security for the country by rolling out a comprehensive expansion plan to grow its fuel retail presence from 547 to over 1500 outlets within the next six months.

He assured stakeholders and the global energy community that the new company was endowed with the ‘‘best human resources one can find anywhere in the industry.

‘‘NNPC Limited is positioned to lead Africa’s gradual transition to new energy by deepening natural gas production to create low carbon activities and positively change the story of energy poverty at home and around the world.” (NAN)

 

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FRAMAZAZ Foundation, Brigade Zumunci Train 50 Youths in Digital Entrepreneurship

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Fifty youths have been trained in digital entrepreneurship and basic business skills as part of an initiative aimed at equipping young people with practical knowledge to establish and manage small-scale businesses.

The training, organised through a partnership between FARAMAZA Foundation and Brigade Zumunci Association, focused on developing the participants’ understanding of entrepreneurship, digital opportunities and basic business management.

The organisers said the programme was designed to provide participants with practical knowledge that could enable them to become more economically productive and pursue sustainable sources of livelihood.

At the end of the training, all 50 participants were presented with certificates of participation in recognition of their completion of the programme.

Speaking as chairperson of the event, Ambassador Nana Aisha said the partnership between FARAMAZA Foundation and Brigade Zumunci Association was established out of a shared commitment to making a meaningful difference in the lives of individuals and communities.

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Ambassador Nana Aisha said the initiative was intended not only to provide participants with training but also to expose them to opportunities through which they could translate knowledge into practical economic activities.

She urged the beneficiaries to put the knowledge and skills acquired during the training into practice by establishing productive ventures capable of improving their livelihoods.

According to her, empowering young people with entrepreneurial and digital skills could also contribute to wider socioeconomic development by creating opportunities for self-employment and business growth.

The chairman of Brigade Zumunci Association, Professor Muhammed Atiku, pledged the association’s continued support for the younger generation, saying it would continue to explore initiatives aimed at helping youths achieve their aspirations.

Professor Atiku said the association recognised the importance of investing in young people through programmes that could provide them with relevant skills and opportunities to become productive members of society.

He added that the training represented the association’s first initiative of its kind and expressed the organisation’s commitment to building on the experience gained from the programme.

The participants, in their separate remarks, expressed appreciation to FARAMAZA Foundation and Brigade Zumunci Association for providing them with the opportunity to acquire entrepreneurial skills.

They said the knowledge gained from the training would help them pursue their entrepreneurial goals and explore opportunities in the digital economy.

The organisers also pledged to provide start-up packages to beneficiaries in subsequent editions of the programme as part of efforts to help participants move from training to actual business activities.

The organisers said the provision of start-up support would complement the skills acquired during the training and give future beneficiaries a better opportunity to apply their knowledge in establishing small-scale businesses.

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UNGA81: Shettima Leads Nigeria’s Delegation to New York

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By Yusuf Danjuma Yunusa

President Bola Tinubu has directed Vice President Kashim Shettima to lead Nigeria’s delegation to the 81st Session of the United Nations General Assembly, UNGA, in New York, United States.

Stanley Nkwocha, senior special assistant to the president on media and communications, made this known in a statement on Sunday in Abuja.

The 81st UNGA general debate will be held from September 22 to 28.

The theme of the UNGA is “Restoring trust, managing transformation: A United Nations that delivers for all.”

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Mr Nkwocha said Mr Shettima would deliver Nigeria’s national statement at the general debate.

He said the statement would outline Nigeria’s position and priorities on major global issues with implications for national development, peace and security, economic growth and international cooperation.

The presidential aide also said that Shettima would participate in high-level meetings during the UNGA week.

Mr Nkwocha added that VP Shettima’s engagements would focus on the right to development, climate action, and other issues of strategic importance to Nigeria and the African continent.

Similarly, he said Mr Shettima is also expected to join other world leaders at the traditional reception for Heads of Delegation and participate in a series of bilateral meetings with leaders of other countries and international organisations, as well as development partners on the sidelines of the General Assembly.

“The engagements will provide Nigeria an opportunity to advance President Tinubu’s economic diplomacy, deepen strategic partnerships and strengthen the country’s voice on reform of the global financial architecture, sustainable development, climate finance and multilateral cooperation,” he said.

Mr Nkwocha said VP Shettima will return to Nigeria after concluding his engagements in New York.

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Former Kogi Governor Ibrahim Idris Dies In UK At 77

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By Yusuf Danjuma Yunusa

Former Kogi State Governor, Alhaji Ibrahim Idris, has reportedly died in the United Kingdom at the age of 77.

Reliable sources broke the shocking news of Idris’s death on Sunday; further details of his reported death were still being awaited as of press time.

Idris served as governor of Kogi State from 2003 to 2008 and again from 2008 to 2012 on the platform of the Peoples Democratic Party (PDP). He was succeeded by his brother-in-law, Captain Idris Wada, in January 2012.

Born in 1949 in Idah, Kogi State, Idris began his education in Onitsha, Anambra State, before moving to Kano, where he completed his primary education.

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He later attended King’s Commercial College in Buguma, Rivers State, and obtained a bachelor’s degree from the University of Abuja.

Before venturing into politics, Idris was a businessman. He established Ibro Trading Company, with interests including construction, furniture manufacturing and hospitality.

He later established a furniture factory in Sokoto and the Ibro Hotel, described in available biographical records as the first three-star hotel in the old Sokoto State.

Idris emerged as the PDP governorship candidate for Kogi State ahead of the 2003 election and defeated the incumbent governor, Prince Abubakar Audu.

He was sworn in as governor on May 29, 2003.

Idris was re-elected in 2007, but the election was later nullified following a legal challenge over the exclusion of the All Nigeria Peoples Party (ANPP) candidate, Abubakar Audu, from the poll.

The Court of Appeal upheld the decision in February 2008 and ordered a fresh election.

Idris subsequently contested the March 2008 re-run and was returned as governor. His victory was challenged by Audu, who alleged electoral irregularities.

Idris eventually completed his tenure in January 2012 and was succeeded by Wada.

The former governor also attracted national attention in 2006 when three of his daughters survived the ADC Airlines Flight 53 crash, which claimed numerous lives.

Following the incident, Idris described the survival of his daughters as a “superlative show of mercy” from God and called for thanksgiving.

In April 2024, Idris suffered the loss of his son, Mohammed Ibrahim Idris, a former member of the House of Representatives representing Ankpa, Olamaboro and Omala Federal Constituency of Kogi State. Mohammed died in Abuja shortly after observing Eid-el-Fitr prayers.

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