News

NNPC Ltd, PSC Contractors Resolve Disputes, Renew PSC Leases

Published

4 years ago

August 13, 2022

Less than a month after the unveiling of NNPC Ltd by Mr. President, NNPC Ltd and its Production Sharing Contract (PSC) Contractors are pleased to announce the execution of fully termed agreements for the renegotiated PSCs.

During an event to mark the landmark achievement held today at the NNPC Towers in Abuja, the parties renewed their agreements in five Oil Mining Leases (OMLs 128,130,132, 133, and 138), a development that would not only unlock further investments in the upstream sector and boost investors’ confidence but would also unlock over $500bn in revenue for the country.

Group CEO, NNPC Ltd, Mallam Mele Kyari, said renegotiations of the assets were in line with the provisions of section 311 of the PIA with other improvements to the PSCs aimed at driving performance in the PSC operations.

President Buhari Unveils New NNPC LTD

Speaking further, Kyari said the negotiations were completed within the timeframe specified by PIA for all re-negotiated PSCs, stressing that “the “meaning of this is that there is now a great deal of clarity between NNPC Ltd and its partners in the deep water space.”

Kyari commended President Muhammadu Buhari for his leadership in providing theNNPC Ltd and its Contractors the opportunity to achieve the milestone through thePIA, thereby offering more opportunities for boosting the nation’s crude oil production and revenue base.

In his remarks, Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor described the execution of OML 133 PSC contract as significant progress towards harnessing the deep-water resources of Nigeria.

Also speaking, the Chairman/Managing Director of Exxon Mobil Companies in Nigeria,Mr. Richard Laing noted that the renewal of the Usan and Erha leases validates his company’s commitment to maintaining a significant deepwater presence in Nigeria,through Esso Exploration and Production Nigeria (Deepwater) Limited.

On his part, Chairman/Managing Director of Chevron Nigeria Limited (CNL), Mr. Rick Kennedy said Chevron is proud of its strong partnership with Nigeria and its various partners and remains also committed to supporting the country to develop its energy resources safely and reliably.

The recent negotiations will put to rest the protracted dispute between the NNPC Ltd and the Contractor Parties in Oil Mining Leases (OMLs) 125, 128, 130, 132 and 133, as well as 138 PSCs). The PSCs and their leases, except OML 130, will run for another 20 years term under pre-PIA laws, while OML130 is to be renewed under PIA terms.

The PIA in Section 31m(2) stipulates that new PSC agreements under new Heads of Terms will be signed between NNPC Ltd as Concessionaire and her Contractor Parties within one year of signing the PIA into law, giving a deadline of 15th August 2022.

This provision paved the way for the resolution of lingering disputes which created investment uncertainty and stifled new investments in the nation’s deep offshore assets.

To achieve this, NNPC Ltd leveraged on the near-end term of the PSCs and the parties’ interest to renew the PSCs as a negotiation currency in bringing the contractors to work towards trading the past for the future.

These renewed PSCs would provide several benefits such as improved long-term relationships with contractors, elimination of contractual ambiguities, especially in relation to gas terms, and enable early contract renewal amongst others.

In a statement by Group General Manger public affairs Division NNPC Limited Garba Deen Muhammad said the signing ceremony was witnessed by the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva; Board Members of NNPC Ltd, led by the Chairman, Senator, Margerie Chuba Okadigbo; Chief Executive of NUPRC, Engr. Gbenga Komolafe; Chief Executive of NMDPRA, Mr. Faruk Ahmed and the Executive Chairman, Federal InlandRevenue Service (FIRS), Mr. Muhammad Namu.

NNPC Ltd, PSC Contractors Resolve Disputes, Renew PSC Leases

This provision paved the way for the resolution of lingering disputes which created investment uncertainty and stifled new investments in the nation’s deep offshore assets.

News

Kano Government Refutes Defection Claims, Says Move Driven by Development Goals

Published

22 minutes ago

April 4, 2026

Nigerian Tracker

The Kano State Government has strongly dismissed claims that Governor Abba Kabir Yusuf defected to the All Progressives Congress (APC) out of fear of losing his chances for a second-term ticket under the New Nigeria Peoples Party (NNPP), describing the allegation as false and misleading.

In a press statement issued on April 3, 2026, the Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, responded to remarks attributed to the immediate past Commissioner for Investment, Commerce and Industry, Shehu Wada Sagagi. Sagagi had reportedly alleged that the governor’s political realignment was motivated by concerns over his political future within the NNPP.

The state government, however, rejected the claim outright, stating that it was “baseless” and a deliberate attempt to misinform the public.

According to the statement, Governor Yusuf’s decision to realign politically was made in the broader interest of peace, unity, and sustainable development in Kano State. The government described the move as strategic and well thought out, aimed at strengthening collaboration and ensuring that the benefits of governance are extended to all residents without discrimination.

“The insinuation that the Governor acted out of fear is not only misleading but disregards his strong political standing and wide acceptance among the people,” the statement said.

The government further emphasized that Governor Yusuf remains committed to his “Kano First” agenda, which focuses on improving infrastructure, boosting economic growth, and enhancing social stability across the state.

Waiya urged the public to disregard Sagagi’s claims, insisting they do not reflect the true situation. He reiterated the administration’s commitment to transparency, accountability, and continued progress.

Despite the controversy, the Kano State Government maintained that it would not be distracted by what it described as unfounded allegations, but would remain focused on delivering its mandate to the people.

News

WADA Marshals Trained on Dangers of Drug Abuse in Schools

Published

36 minutes ago

April 4, 2026

Nigerian Tracker

The Non-Formal Development for Health and Education Initiative has launched a training program for War Against Drug Abuse (WADA) marshals, focusing on the dangers of drug abuse among students in secondary and tertiary institutions.

Dr. Auwalu Halilu, the technical adviser of the NGO, explained during the workshop that the initiative is designed to equip WADA marshals with the knowledge and tools to educate young people about the risks of drug abuse. “We are here to tell the children of the ills of drug abuse. It is better to catch them young, using storytelling and experience sharing to help them understand the dangers,” he said.

The workshop emphasized the importance of early intervention, highlighting how drug abuse can derail students’ education and future prospects. Participants were trained to use interactive methods to showcase the dangers of drug trafficking and substance misuse.

State Commandant of the National Drug Law Enforcement Agency (NDLEA), Dahiru Lawan Yahaya, praised the initiative, noting that WADA War Against Drug Abuse was established to mobilize communities against the growing menace. “We are elated by this workshop because it strengthens our collective fight against drug abuse,” he remarked.

Executive Chairman of the Kano State Universal Basic Education Board, Yusuf Kabir Yusuf, also commended the program, stressing its relevance to primary and junior secondary education. “We are protecting the integrity and dignity of our students. If children are thrown into drug abuse, they cannot study, they cannot progress. That is why we are involving parents and village heads in this fight,” he said.

The training is a collaborative approach, bringing together educators, law enforcement, and community leaders to safeguard students from the destructive impact of drugs. Organizers emphasized that awareness and prevention remain the most effective strategies in curbing drug abuse among young people.

News

Atiku Vows to Support Anyone Who Wins ADC Presidential Ticket for 2027

Published

2 hours ago

April 4, 2026

Nigerian Tracker

By Yusuf Danjuma Yunusa

Former Vice-President Atiku Abubakar has declared that he will back whoever emerges as the presidential candidate of the African Democratic Congress (ADC) in the 2027 election, even as he dismissed concerns that the Independent National Electoral Commission (INEC) could derail the party’s plans.

Speaking in an interview with DW Hausa, Atiku alleged that vested interests were targeting the ADC because of its growing popularity across the country. He also rejected INEC’s recent decision to cease communication with the party’s leadership and not monitor its April 14 national convention, a move the ADC has criticised as a misinterpretation of a court ruling.

“We will support and endorse whoever emerges as the flag bearer,” Atiku said, noting that the ADC’s presidential aspirants are only three or four, compared to more than ten in his former party, the PDP.

The former vice-president described the ADC as youth-friendly, saying young people already dominate its tickets for councillor, state assembly, and national assembly positions. “Our role is to create the opportunity and hand it over to them,” he said.

Asked whether he could support a young presidential candidate, Atiku replied: “Yes, why not?” He added: “Allah has done everything for me. I have brought my sons and grandchildren home. What will be their future and that of their children?”

Atiku expressed confidence that Nigerians are ready for political change, citing worsening economic and security conditions. “They are being pushed to the wall and are prepared to do even more than they did in the previous elections,” he said.

He linked rising insecurity, particularly in northern Nigeria, to youth unemployment and poor access to education. “When you go round the region, you see that education is not receiving the attention it deserves. It has been relegated,” he said, adding that even graduates find no jobs or business opportunities. “I have never witnessed a period like this in Nigeria.”

The former vice-president also accused the government of tolerating corruption. “There is embezzlement on the part of government, and corruption is rampant. The government has turned a blind eye because it is involved,” he said.