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NNPC Ltd, PSC Contractors Resolve Disputes, Renew PSC Leases

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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.

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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.

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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

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.

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.

 

 

 

 

 

 

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NDA Announces Date for Nationwide Screening Test

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By Yusuf Danjuma Yunusa

The Nigerian Defence Academy has announced that its Screening Test for the 78 Regular Course will hold on Saturday, 13 June 2026 across all states of the federation and the Federal Capital Territory.

In a statement issued on its X handle on Tuesday and signed by the Academy Registrar, the institution said the exercise is open only to candidates who scored 180 and above in the Unified Tertiary Matriculation Examination conducted by the Joint Admissions and Matriculation Board in April 2026, and who selected the NDA as their first-choice institution.

According to the NDA, eligible candidates will receive an email on 20 May 2026 directing them to select their preferred state for the screening test.

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The academy noted that this step is necessary for the allocation of examination centres nationwide.

The statement added that candidates must complete their selection of preferred test location no later than 24 May 2026.

The NDA advised applicants to choose their state of residence as their examination location, emphasising that the screening exercise will be conducted simultaneously across the country.

It further stated that candidates will later be informed of their assigned centres in the first week of June 2026.

“The selection of location (State) of choice for the test is to be done latest by 24 May 2026,” the statement read.

It also assured candidates of timely communication and further instructions via email, stressing that the Academy remains committed to fairness and equal opportunity for all qualified applicants nationwide.

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EFCC Arrests Fleeing Ex-Power Minister, Saleh Mamman in Kaduna

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The Economic and Financial Crimes Commission, EFCC, has arrested a fleeing former Minister of Power, Saleh Mamman, in Rigasa area of Kaduna State.

Mamman was arrested in the early hours of Tuesday, May 19, 2026 following weeks of intensive surveillance and intelligence gathering by operatives of the Commission.

Addressing journalists on the arrest, Executive Chairman of the EFCC, Ola Olukoyede, disclosed that the former minister went underground after he was convicted by the Federal High Court sitting in Abuja on corruption charges.

“On May 7, 2026, Justice James Omotosho found Mamman guilty on all 12 counts bordering on diversion of funds meant for the Zungeru and Mambilla hydroelectric power projects. The court convicted him in absentia after agreeing with the Commission that the prosecution had proved its case beyond reasonable doubt,” he said.

“For us, getting the convict to serve his jail terms is extremely important in view of the seriousness with which we are tackling corrupt practices. It is this resolve that made us deploy intelligence to tracking and arresting the convict. We will process his transmission to the Correctional Centre accordingly”, he said.

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Justice Omotosho had, in his judgment, held that the EFCC successfully established that Mamman and his associates diverted not less than N22 billion meant for the execution of critical power projects. The court further held that the defence failed to present credible evidence capable of discrediting the prosecution’s case.

The judge condemned the diversion of public funds earmarked for the Zungeru and Mambilla hydroelectric projects, describing the act as a gross abuse of public trust. He also noted that the convict deployed proxy companies and associates to siphon and benefit from funds meant for critical national infrastructure.

Mamman, who served as Minister of Power between 2019 and 2021 under the administration of former President Muhammadu Buhari, supervised Nigeria’s power sector and major hydroelectric projects, including the Mambilla and Zungeru power projects.

Following his conviction, the court ordered that he be arrested and produced before it on May 13, 2026, for sentencing. However, the convict failed to appear in court on the scheduled date, prompting the court to proceed with sentencing in his absence.

Justice Omotosho subsequently sentenced Mamman to seven years imprisonment each on Counts 1, 2, 3, 6, 7, 8, 9, 10, 11 and 12 without an option of fine. He was also sentenced to three years imprisonment on Count 4 with an option of N10 million fine and two years imprisonment on Count 5 without an option of fine.

The court further ordered that the sentences run consecutively, bringing the total jail term to 75 years.

Apart from the conviction, Mamman is also facing another corruption trial before the Federal Capital Territory High Court, Abuja, over alleged N31 billion fraud.

On May 11, 2026, Justice Maryanne Anenih issued a bench warrant for his arrest following his failure to appear for proceedings in the matter involving him and seven others.

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JUST IN: Kwara Gov Endorses Yahaya Seriki as Successor

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By Yusuf Danjuma Yunusa

Kwara State Governor, AbdulRahman AbdulRazaq, has endorsed Yahaya Seriki as his preferred successor ahead of the 2027 governorship election in the state under the platform of the All Progressives Congress.

The governor made the announcement in a Facebook post on Tuesday.

Announcing his preferred successor, the governor said the decision followed what he described as extensive consultations with party stakeholders and leadership structures across the state.

“Following extensive consultations with party structures and leadership, I am pleased to endorse Ambassador Abdulfatai Yahaya Seriki as my preferred successor under the platform of our party, the All Progressives Congress (APC),” the statement read.

The governor described Yahaya Seriki as a youthful and people-oriented politician with strong political mobilisation capacity and widespread grassroots acceptance across the state.

“Young, pro-people, astute, and broad-minded, Amb. Yahaya Seriki has been a great political mobiliser with profound investments in and extensive goodwill among the people of Kwara State.

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“I have no doubt about his capacity and that his choice is appropriate for the people of our state at this time,” AbdulRazaq added.

The governor, however, clarified that his endorsement does not invalidate the aspirations of other governorship hopefuls seeking the APC ticket ahead of the party’s primary election slated for Thursday, May 21, 2026.

“While this does not in any way preclude all other aspirants from contesting in the primaries, I urge members and leaders to affirm the choice of Seriki as our candidate for cohesion, unity, and continuous success of the party as we hold our gubernatorial primaries on Thursday, May 21, 2026,” he said.

AbdulRazaq also stressed that the endorsement should not be interpreted as a rejection of other aspirants jostling for the party’s ticket, noting that all contenders possess commendable leadership qualities.

“The choice of Amb. Yahaya Seriki is neither a disapproval of any of our eminently qualified aspirants nor a whimsical attempt to delegitimise the noble aspirations of our people.

“But in a race involving some 16 great minds for one office, only one person can take the shot at a time,” the governor stated.

He further commended the conduct and maturity displayed by the governorship aspirants within the ruling party, praising their commitment to sustaining the achievements of his administration.

“Finally, I acknowledge and commend the statesmanship of our aspirants, all of whom have shown discipline and impressive capacity to build on the undeniable achievements of our administration over the last seven years for the good of the people of Kwara State,” the statement added.

The endorsement is expected to shape the dynamics of the APC governorship primary in the state, with Yahaya Seriki emerging as a leading contender in the race to succeed AbdulRazaq in 2027.

AbdulRazaq, who is expected to complete his constitutionally mandated two-term tenure by 2027, recently participated in the APC senatorial primary for the Kwara Central Senatorial District ticket.

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