Connect with us

News

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

Published

on

 

 

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.

Advert

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.

News

RFI Tasks Media on Reporting Women, Children, and Minors

Published

on

 

Radio France Internationale (RFI) has urged journalists to broaden their coverage to include issues affecting women, children, and minors, as part of its Hausa Service programme Rayuwata. The head of RFI Hausa Service, Joe Penny, made this call while addressing journalists in Kano during preparations for the upcoming Rayuwata event. Penny emphasized that the programme this year will spotlight personal stories shared by women and children, underscoring the importance of amplifying their voices.

According to Penny, RFI, headquartered in France with 17 language services, operates its Hausa Service from Lagos. He noted that the station has successfully reached millions of people through social media, particularly Facebook, where it boasts 2.3 million followers. He explained that the decision to host the event in Kano was deliberate, given the city’s role as a cultural and economic hub in northern Nigeria.

Penny further stated that RFI’s outlets have traditionally focused on politics and security-related attacks, but the organisation is now expanding coverage to other aspects of life. “Last year, we partnered on sports and signed a memorandum of understanding with Kano pillars football club . This year, we are focusing on women and children,” he said. He added that the programme will feature videos designed to spark conversations and highlight pressing social issues.

Advert

The Hausa Service head also revealed that the event will celebrate achievements in Kannywood, the Hausa-language film industry. “We have a series on Kannywood where we interview actors. It provides a service beyond us and a larger one. This is the first time we are doing this event in Kano, and there are new ways of engaging our audience,” Penny explained.

He stressed that public feedback would be crucial in shaping the festival, which he described as being in the public interest.

Highlighting the programme’s history, Penny noted that Rayuwata has been running for five years, consistently focusing on children and minors. He reiterated that the initiative seeks to celebrate, encourage, and educate, while also drawing government attention to the needs of vulnerable groups.

On his part, veteran broadcaster and co-anchor of Rayuwata, Muhammad Musa Muhammad Inya, emphasized RFI’s global reach and its commitment to ensuring Kano is not left behind.

He disclosed that RFI will collaborate with five local radio stations this year to strengthen community engagement. “We are helping those that are not privileged, especially fatherless children. We come to educate the government on the importance of children and the less privileged,” Inya said.

The upcoming Rayuwata festival in Kano is expected to serve as a platform for dialogue, cultural celebration, and advocacy, reinforcing RFI’s mission to expand media coverage beyond politics and security to include the everyday realities of women, children, and minors.

Continue Reading

News

Ex-IG Alkali Withdraws from Yobe APC Governorship Race

Published

on

 

By Yusuf Danjuma Yunusa

Former Inspector-General of Police, Usman Alkali Baba (retd.), has withdrawn from the 2027 Yobe State governorship race on the platform of the All Progressives Congress.

Baba announced his withdrawal in a statement made available to Newsmen on Wednesday, saying the decision followed extensive consultations with political stakeholders and associates across the state and beyond.

The former police chief said the move was taken in the interest of party unity, stability and progress ahead of the APC governorship primaries.

Advert

‎He stated, “After due consultations and exhaustive meetings with the Vice-President, Federal Republic of Nigeria Senator Kashim Shettima, the Executive Governors of Yobe and Borno states, elders and political associates, as well as some very critical stakeholders across the seventeen Local Government Areas, I have decided to withdraw my aspiration for the governorship ticket ahead of the 2027 general elections.”

Baba described the decision as a difficult but necessary sacrifice for the unity of the ruling party in Yobe State.

‎“The decision was not arrived at easily; it is voluntary but an obvious sacrifice we must make in the interest of party unity, stability and progress of our dear state,” he said.

He urged his supporters to remain calm and continue supporting the APC and whoever emerges as the party’s governorship candidate.

‎“Having made this decision, we urge our teeming supporters to remain calm, law-abiding and continue to support our great party, the APC, as well as the eventual gubernatorial candidate,” Baba added.

‎The retired IGP also reaffirmed his commitment to the development of Yobe State despite stepping down from the race.

His withdrawal comes less than 24 hours after another APC governorship aspirant, Alhaji Lawan Kolo Geidam, also exited the contest.

The remaining aspirants include Senator Ibrahim Muhammed Bomai, Mustapha Yunusa Maihaja, Bashir Sheriff Machina and Kashim Musa Tumsah.

Continue Reading

News

Wike Throws Jab at Makinde, Says Alliance with APM Unknown to INEC

Published

on

 

By Yusuf Danjuma Yunusa

Minister of Federal Capital Territory, Nyesom Wike, has described the alliance between Oyo State Governor, Seyi Makinde-backed Peoples Democratic Party (PDP) and the Allied Peoples Movement (APM) as fraudulent.

“When I say people are fraudulent, they thought I was joking. And that’s the 419 we are talking about,” said Mr Wike during an inspection of ongoing road projects in Abuja on Thursday.

Mr Makinde earlier declared his interest to contest the 2027 presidency after signing a Memorandum of Understanding with the APM to be its standard bearer.

“I, Oluseyi Abiodun Makinde, Excellency, announce my candidacy for the position of the President of the Federal Republic of Nigeria,” the governor stated.

Advert

According to the agreement, candidates of the Turaki-led PDP faction in Oyo State loyal to Mr Makinde who are contesting governorship, Senate, House of Representatives and state assembly seats are expected to run on the platform of the APM rather than the PDP in the 2027 elections.

However, Mr Wike said the alliance was unknown to the Independent National Electoral Commission and his faction of the PDP.

He added, “There’s no alliance between PDP and Allied Peoples Movement (APM) or any other political party, as the case may be. INEC also knows that there’s nothing called PDP-APM alliance.”

Noting that the ongoing political activities within the PDP, including the screening of aspirants, clearly showed that the party remained independent and had not entered into any coalition arrangement, the minister accused Mr Makinde of pursuing his personal presidential ambition through the APM platform.

“PDP has presented a presidential candidate and watch out who will be submitted to INEC and see whether there’s anything called PDP-APM.

“What you have is Seyi Makinde joining APM to be able to actualise his presidential ambition, which is already dead on arrival,” Mr Wike said.

The PDP has been embroiled in leadership crisis stirring yet to be resolved court cases.

Continue Reading

Trending