News

See IOCs’ Divestments As Blessing, NUPRC Charges IPPG

Published

3 years ago

July 6, 2022

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has urged stakeholders in the petroleum industry, especially the Independent Petroleum Producers in Nigeria (IPPG) to look at the brighter side of the divestments of International Oil Companies (IOCs) as many opportunities for local players abound.
Komolafe gave the charge at the opening dinner of the ongoing Nigerian oil and gas conference holding in Abuja, yesterday.
According to him, local players now have a golden opportunity to prove their mettle by leveraging the local content window in value addition and optimising the development of the nation’s hydrocarbon resources.
He emphasised the need for indigenous players across the value chain to deploy their ingenuity in promoting vibrancy and capacity utilisation in the industry
“As a regulator, the commission is not oblivious of the threat posed to the development of the Nigerian hydrocarbon industry by the divestment of the IOCs.
“The impetus for divestment by the IOC is mainly attributable to the hostile upstream petroleum environment arising from crude oil theft and energy transition as a global response to the advocacy for reduction in carbon emissions.
“Our view as a commission is that IPPG and other prospective indigenous players should perceive the IOCs’ divestment in some of the upstream assets as an opportunity rather than a threat to the development of the Nigerian upstream petroleum sector,” he said.
Speaking further, Komolafe noted that indigenous companies presently contribute about 30percent of the nation’s crude oil and 20percent of the gas production, as well as 40percent and 32percent of oil and gas reserves, respectively.
He also informed that seven indigenous companies are among the top 20 companies with the highest oil reserves in Nigeria.
He further disclosed that 57 fields were offered for awards in 2020 to indigenous operators, resulting in the issuance of 102 Petroleum Prospecting Licenses (PPLs) by the commission on June 28, 2022.
“It is worthy to note that Nigeria has the largest participation of local independents in the domestic oil and gas industry activities of all petroleum-producing countries in Africa arising from the robust local content policy.
“It is estimated that the energy demand across Africa in 2040 would increase by about 30percent compared to the current level. Consequently, the divestment of the IOC away from our onshore and shallow water terrains presents a massive opportunity for new operators of those assets, which the IPPG is better positioned to take advantage of in order to meet the increasing energy demand.
“The commission expects the IPPG to stay competitive, optimise future energy security and be resilient in our oil and gas extractive industry”, Komolafe stated.

News

Let’s Celebrate Gallantry Of Soldiers More While Alive Than In Death – Fubara

Published

27 mins ago

January 15, 2025

The Tide

Rivers State Governor, Sir Siminalayi Fubara, has said that it is more rewarding to celebrate the military and members of the security agencies for their contributions and sacrifices while they are alive, and not just when they are dead.

Governor Fubara spoke at the Inter-denominational Thanksgiving Service held in commemoration of the 2025 Armed Forces Remembrance Day Celebration at Our Lady of the Holy Rosary Chaplaincy, Catholic Institute of West Africa (CIWA), Rumuibekwe, in Obio/Akpor Local Government Area, last Sunday.

The Governor described as unfair, to only remember fallen heroes, as the yearly Armed Forces Remembrance Day Celebration represents, but to also put in place a more enduring measure of acknowledging and celebrating officers and men in active service for their gallantry.

Governor Fubara, therefore, assured that his administration will do everything possible within its powers to make life better for officers and men involved in various security operations, including legionnaires and survivors of fallen heroes within the State.

He said, “But I want to say that our government will not be a government that will put its energy only in remembering the late soldiers, and those who have died in the course of defending this country.

“I want to change the narrative a bit. We want to also support, strongly, those people that they have left behind, so that they will know what the government and the good people of Rivers State did for them. Let it also be that people will be remembered by the government for taking the right decision for them and helping them develop to be something great in our country.”

Governor Fubara also said: “We want to assure the legionnaires on whose instance this occasion is centred on. We want to assure the Armed Forces that this government will continue to do its best to protect lives of our people, and to take the welfare of our people seriously.

“At the end of the day, it is about the people, and the people should come first. We want to assure you that those things we have promised, which I believe we have met a good number of them; however, if there is any one that we have not done, we will do it to make sure that you are not remembered after your death, but that while you are alive, you also enjoy yourself in the right way.”

Governor Fubara referred to the biblical Moses who requested of the Lord Almighty to make His presence available as a shield and compass to lead on the path designed for the Israelites, and stated that God is in full control of the affairs of State and providing the needed direction on the right path.

Governor Fubara said: “Let me also appeal to all the religious leaders in this State, please, your pulpit should be a place to talk about peace, progress; talk about the unity of the people of Rivers State. It shouldn’t be an opportunity for people to cast aspersions, abuse people, say all sorts of things. And more worrisome is that it is in the house of God. Please, I want to beg you (the churches)… with due respect… you need to stop it… If I start shooting out of order, drag the microphone from me.”

Governor Fubara recalled that the 2024 Armed Forces Remembrance Day was marked when his administration and the entire State were going through a lot of storm, but asserted that it is a lot different in 2025 because everybody looks brighter, fresher, with the outlook of his administration more better, bigger, stronger and comfortable steering the affairs of State.

Governor Fubara stated: “This year is a special year. A special year because God has been with us, God has helped us in several ways. God has also promised us that there will be total peace on every side, and our projection for this year will be as we declared it: ‘Inclusive Growth and Development’, more especially on human capital development.

“We can only achieve this in an environment where there is peace; environment where there is law and order. That is where the security agencies come in. We want to appeal to you, we do not care the means of your appointment; we are not bordered about the ethnic group you are coming from; what we request from you is to consider the interest of this State as more important.

“Know that if anything goes wrong in this State, it affects Nigeria. That is the truth! So, work as a professional, support us to make sure that those things that we ought to do and do rightly are done for the interest of the good people of Rivers State and Nigeria at large.”

In his homily, the Chaplain of Our Lady of the Holy Rosary Chaplaincy, Catholic Institute of West Africa (CIWA), Very Reverend Monsignor Pius Kii, spoke on the theme, “Remembrance”, and emphasised the importance of rendering worthy services, to God, society and humanity, because they do not go unnoticed by God who recompense justly.

Very Rev Kii, therefore, admonished that on an auspicious day as the Armed Forces Remembrance Day Celebration, proper remuneration should be instituted for men and women of the Armed Forces who have continued to fight against external aggressions, terrorism, and curbed internal insurgencies, with some of them paying the supreme price to ensure a peaceful society for the citizenry.

News

Work on Eleme Road delaying fuel distribution from PH Refinery – PETROAN

Published

5 days ago

January 10, 2025

The Tide

The Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) has expressed concern over the slow pace of work by Reynolds Construction Company (RCC) on the Eleme East-West Road project, Port Harcourt axis.

The National President of PETROAN, Dr Billy Harry, in a statement yesterday, said that the delay was happening in spite of the N33 billion said to have been released by the Federal Ministry of Works, for the project.

Harry decried the challenges the deplorable road posed, saying that it was sabotaging President Bola Tinubu’s efforts to ensure the smooth distribution of petroleum products from the renovated Port Harcourt Refinery.

“Thousands of petroleum trucks will be using the road to convey products from the renovated Port Harcourt refinery, so, further delay is detrimental.

“The Eleme East-West Road is a critical route for the transportation of petroleum products, and its safety is paramount.

“The road’s deplorable condition poses a significant risk to trucks carrying petroleum products, which could lead to catastrophic accidents and environmental disasters.

“PETROAN is calling on the President to evaluate the ongoing contract by RCC in line with the contract timeline.

“This move will consolidate his renewed hope agenda by ensuring the timely completion of the Eleme East-West Road project.”

Harry said that about 60 retail outlets were negatively impacted by the road construction, and requested adequate compensation for owners of the fuel stations.

He recalled that the Minister of Works, David Umahi, in a press conference, had also complained about the slow approach of RCC, leading to the issuance of a seven-day ultimatum by the Minister.

“Furthermore, PETROAN is calling on the Minister of Works, David Umahi, to fast-track the contract evaluation process and take decisive action to address the slow pace of work by RCC.

News

Old Students’ Association Marks Anniversary

Published

5 days ago

January 10, 2025

The Tide

The Rivers Secondary Schools Old Boys and Girls 1983 Set Association marked its one year anniversary in Port Harcourt on 22nd December 2024.

The association is a body of old boys and girls of 1983 graduating set of secondary schools in Rivers State, Nigeria conceptualised to provide opportunities for reconnection and reminiscing over old times, networking, creating avenues for personal and professional growth, fostering friendships and celebrating milestones.

The one year anniversary gathering which took place at Galaxy PHD Event Centre, in GRA Phase 2, Port Harcourt, brought together different professionals and was heralded with classic photo shoot session, free speeches and talks on how to move the association to greater heights. It was rounded off with a dinner.

Speaking at the event, the Chairman of the Board of Trustees of the association, Chief Hope Kuku, congratulated members for the one year anniversary.

He encouraged members to reach out to more classmates in order to grow the association as the advantages are enormous in terms of business growth and social interactions.

He said he was already looking forward to a steady growth of the Association to mark the 10th anniversary.

Also speaking, the President of the association, Barrister Tubokumba Harry, described the last one year of the association as “exciting and really fulfilling” promising to “get more of our set mates on board”.

He stated that the coming together as classmates of the same set would inculcate a bond built on shared experiences which can enhance communication skills, promote teamwork and collaboration with lasting memories that members would cherish in the future.

In her own remarks, the Secretary General of the association, Dr (Mrs) Ibinabo Ogolo said one year down the memory lane of the association has been wonderful as members have not only shared experiences but made significant strides towards achieving the aim and objectives of the association.

“We successfully organised programmes like celebrating the Day of the African Child with students of Government Technical College, Trans Amadi, Port Harcourt.

Also, a Road Walk and Health Awareness campaign through Port Harcourt streets to create awareness and sensitize the people of Rivers State on the health importance of walking.

The association also organised a “Hang-Out” session for members on 1st October, 2024 to foster relationships and networking and also joined other groups to relieve stress and depression at the Enjoyment Mega Sit Out at Port Harcourt Club in Port Harcourt.

These activities brought our members and community together”. She said.

On his part, the Chairman of the anniversary planning committee, Mr Tammy Owunaka noted that the association in just one year had grown to enviable height providing a platform for former classmates to reconnect, network and give back to the society.

Furthermore, he stated that the association created opportunities for professional mentorship, developments, and collaboration, thereby helping members to advance in their aspects of endeavour and personal lives.

He said that through the association, members have demonstrated that power of collective action and social responsibility can propel an organisation and commended the sense of belonging and camaraderie among members.

Also speaking, the legal adviser of the association, Barrister Ngozi Ajayi noted that though the association is only one year old, it was already walking on a purposeful path and urged members to remain committed to and focused to make the association one of the best in the state.

In his remarks, Barrister Sylvester Adaka, who is a former Chairman of Nigeria Bar Association, Port Harcourt Branch and a memeber of the association stated that so far the association is on the right path but will progress better with more classmates on board.

He commended the classic photo shoot session as a great way to portray the individual personalities of members, adding that he was looking forward to more events.