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NNPC Ltd/Chevron JV Concludes Conversion of Assets into PIA Terms

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In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have concluded the conversion of five of its JV assets into the PIA terms.

Under the new PIA regime, all existing Oil Prospecting Licenses (OPLs) and Oil Mining Leases (OMLs) would be automatically converted to Petroleum Prospecting Licenses (PPLs) and Petroleum Mining Leases (PMLs) upon their expiration.

Nonetheless, an option of voluntary conversion is provided for holders of OPLs and OMLs (Operator, Licensees or Lessees) under the erstwhile Petroleum Profit Tax (PPT) regime. The PIA terms are generally perceived as more investor-friendly, compared to the erstwhile PPTA terms.

During a brief ceremony held at the NNPC Towers on Monday, the two partners signed documents on the conversion of five (5) OMLs into four (4) PPLs and twenty-six (26) PMLs, in line with the new PIA terms, marking a significant step towards increasing domestic gas supply and expanding global market presence.

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Speaking at the occasion, Group CEO NNPC Ltd, Mr. Mele Kyari, described CNL as one of the most reliable partners for the NNPC Ltd. “Over the years, Chevron has been a partner of choice that has not contemplated completely divesting/exiting (oil production in) the shallow water and we are proud of them,” he added.

Kyari assured CNL that NNPC Ltd would sustain its partnership with the JV partner so as to create more value for both parties and expand Nigeria’s footprints in the domestic and export gas markets.

He commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its exemplary role in midwifing the conversion.

The Director, Deepwater and Production Sharing Contract (PSC) of CNL, Mrs. Michelle Pflueger who stressed the significance of the conversion for both companies, affirmed CNL’s long-standing commitment to the assets.

Also speaking, NNPC Ltd’s Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, highlighted the advantages of the PIA terms over the previous PPT terms, noting that the conversion was a strategic move towards the successful implementation of the PIA.

In his remarks, NNPC Ltd’s Chief Upstream Investment Officer, Mr. Bala Wunti, noted that the assets conversion is expected to significantly boost crude oil production, with the two partners focusing on attaining the 165,000 barrels of oil per day (bopd) production target by year-end 2024.

In a statement by Olufemi Soneye Chief Corporate communications manager of NNPCL emphasized the continued importance of CNL’s operational philosophy in maintaining network stability and facilitating gas supply especially to the domestic market.

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ADC Reports Surge in Membership Following Kwankwaso’s Defection, Calls Him ‘Game Changer’

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By Yusuf Danjuma Yunusa

The African Democratic Congress (ADC) has officially welcomed former Kano State Governor and 2023 presidential candidate Senator Rabiu Musa Kwankwaso into its fold, touting his defection as a pivotal move that strengthens a growing coalition for political realignment in Nigeria.

In a statement released for immediate effect, the party described Kwankwaso as a “game-changer,” announcing that he has directed his network of supporters nationwide to join the ADC. According to the party, this call has already triggered a significant uptick in registrations on its online platform over the past 24 hours.

The ADC’s National Publicity Secretary, Mallam Bolaji Abdullahi, framed the defection as part of a broader recognition among Nigerians of the need for a credible political alternative. The statement emphasized Kwankwaso’s experience in governance, grassroots influence, and capacity to unify as assets to the party’s ambition to “rebuild Nigeria.”

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Notably, the ADC highlighted the presence of several high-profile leaders at the defection event, including the party’s National Chairman, Senator David Mark; National Secretary, Ogbeni Rauf Aregbesola; and leading presidential aspirants such as former Vice President Atiku Abubakar, Mr. Peter Obi, and Rt. Hon. Rotimi Amaechi. Their attendance, the party stated, reflects a united front and growing momentum.

The party characterized the surge in online registrations as evidence that Nigerians are aligning with what it called a “different path forward.” In its appeal to Kwankwaso’s supporters and the broader public, the ADC positioned itself as a vehicle for restoring dignity, opportunity, and public trust in governance.

“Change does not happen by chance,” the statement concluded. “It happens when people come together with purpose.”

The development marks a significant realignment in Nigeria’s opposition political landscape, with the ADC seeking to position itself as a converging point for influential politicians and their followings ahead of future elections.

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Foreign Affairs Minister Resigns to Pursue Bauchi Governorship Election

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By Yusuf Danjuma Yunusa

The Minister of Foreign Affairs, Yusuf Maitama Tuggar, has resigned from his position in the administration of President Bola Ahmed Tinubu to pursue the governorship of Bauchi State in the 2027 election.

Tuggar submitted his resignation on Monday, in compliance with a presidential directive requiring all political appointees with electoral ambitions to vacate their posts by the March 31, 2026, deadline.

The directive, issued through the office of the Secretary to the Government of the Federation, George Akume, aligns with Section 88(1) of the Electoral Act, 2026, and the timetable released by the Independent National Electoral Commission (INEC). It affects ministers, advisers, and heads of federal agencies intending to contest in the 2027 general elections.

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Reports have it that his resignation positions him to seek the ticket of the All Progressives Congress (APC) for the Bauchi State gubernatorial race.

Tuggar’s entry is expected to significantly reshape the state’s political landscape, intensifying an already competitive contest for the APC nomination. His background as a career diplomat and serving minister is seen by political observers as a potential advantage, offering national visibility and extensive political networks.

With less than 24 hours remaining before the deadline, additional resignations from the Federal Executive Council are anticipated as other appointees move to formalize their electoral ambitions.

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Kwankwaso Officially Joins ADC

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By Yusuf Danjuma Yunusa

Former presidential candidate of the New Nigeria Peoples Party and ex-Governor of Kano State, Senator Rabiu Kwankwaso, has officially joined the African Democratic Congress.

The former Minister of Defence also registered with the party and received his membership card on Monday at Gidan Kwankwasiyya, Miller Road, Bompai, Kano.

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Present at the event include ADC National Chairman and former Senate President, David Mark; former Sokoto State Governor, Senator Aminu Tambuwal; former Minister of Transportation, Rotimi Amaechi; former Labour Party presidential candidate, Peter Obi; Senator Dino Melaye; and former National Chairman of the All Progressives Congress, John Odigie-Oyegun, among others.

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