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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.

‘‘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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Enugu State Journalists Mourn the Loss of AIT Reporter, Jimmy Edeabasi Abaekong

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Late Jimmy Edeabasi

Enugu State Chapter of the Nigeria Union of Journalists, NUJ, has announced the death of the State reporter of the African Independent Television, AIT, Jimmy Edeabasi Abaekong.

Before his death, Jimmy who moved from Ebonyi State to Enugu was attached to the Enugu Government House.

A message posted on the Enugu NUJ platform reads:

It is with heavy heart the NUJ Enugu State Council announce the sudden demise of our member, Jimmy Edeabasi Abaekong of AIT whose sad event occurred on the 29th of September 2023 during a brief illness.

Jimmy was of the Private Broadcast Chapel and hailed from Uyo, Akwa Ibom State.

“The peaceful government house reporter would be greatly missed by all.

“Good night Jimmy! “

Journalist 001

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Independence :Plateau State Governor Pardons 4 Inmates

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Governor Caleb Muftwang of Plateau State

 

By Asile Abel, Jos

Governor Caleb Mutfwang of Plateau State has granted the prerogative of mercy to four inmates who were previously condemned to death, while others have been granted pardons to serve life sentences.

The statement was included in a statewide broadcast by the governor on Sunday, as part of the activities to mark Nigeria’s 63rd Independence Day.

“On this remarkable day, it is my pleasure to exercise my Prerogative of Mercy as enshrined in the Constitution of the Federal Republic of Nigeria. Having reviewed the recommendations of the Council on the Prerogative of Mercy, I hereby approve the following.”

The beneficiaries among the prisoners include Danladi Musa, who was sentenced to life imprisonment for culpable homicide and has served 17 years; he is granted an absolute pardon.

Tali Zingtim, who was also sentenced to death by hanging for criminal conspiracy and armed robbery, will now serve 21 years of imprisonment.

Similarly, one Ponzing Nanshep, who was sentenced to life imprisonment for criminal conspiracy and culpable homicide, will serve 21 years of imprisonment.

Also, Dauda Joshua, who was sentenced to death by hanging for culpable homicide, will serve a life sentence.

Governor Mutfwang used the opportunity to express his appreciation to the citizens of Plateau for their support of his administration so far.

“I wish to thank every citizen for the immense support we have enjoyed since assuming office. I encourage you to maintain faith in us and remain positive that we will fulfill our promises.”

The Governor of Plateau State congratulated Nigerians on 63 years of being an independent country.

“I wish you a happy and hope-inspiring Independence celebration and rest assured that we are committed to the peace and prosperity of our land.

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Dala Inland Dry Port Appoints Barrister Hassan Bello as Non-Executive Director

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Barrister Hassan Bello

 

The governing Board of Dala Inland Dry Port Zawaciki Kano has appointed Barrister Hassan Bello (OON) as its non executive Director.

Announcing the development shortly after its meeting held on Tuesday 26th September 2023 at Abuja, the Board’s chairman Alh Abubakar Sahabo Bawuro said the appointment of Barrister Hassan Bello, an experienced legal practitioner and astute administrative guru in the shipping industry in Nigeria, is with immediate effect.

HASSAN Bello was a graduate of the prestigious ABU Zaria and was called to the Nigerian Bar in 1982.

He later held various positions as state counsel – ministry of justice, Sokoto, Legal Adviser/Company Secretary Secretary – Sokoto Investments company Ltd..

Hassan Bello was also the Head of Legal Dept, Nigerian shippers’ Council and later on as Executive Secretary/ CEO of the council..

Barrister Hassan Bello has been accredited with formulation, executing, interfacing and implementation of strategies that transformed the shippers’Council as the economic regulator of the Nigerian Ports industry.

In a statement signed by Head ,corporate communications Ahmad Rufai Bello said until his emergence as Director to the Board, Bello Esq had been a consultant to the Board.

Barrister Hassan Bello was conferred with the prestigious National Honour Award of the OFFICER of the ORDER of the NIGER (OON) by the former president of Nigeria Muhammadu Buhari in May this year.

 

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