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‘Projected Crude Oil Production Short By 283m Barrels’
Nigeria’s crude oil production when put side-by-side its expected output of 1.88million barrels per day in 2022, was short by a whopping 283million barrels, amounting to roughly $24.55billion.
This figure was arrived at when an estimated conservative price of $85 per barrel for which the commodity sold in the year under review, is multiplied by the 283million barrels deficit recorded during the period.
A further review indicated that while the 2022 budget projected a 1.88million bpd, that is about 58.28million barrels every month or an estimated 700million barrels for the entire year, only 417million barrels were drilled for the entire year.
This represented about 59.57 per cent output for the year.
But on the upside, although the National Assembly pegged the price benchmark at $57 per barrel, oil sold far more than that in 2022, even exceeding $100/barrel at some point.
The figures were released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) from January to December, last year.
With its inability to drill up to 60per cent of its expected volume in 2022, the country lost roughly 40per cent of its output to oil theft and sabotage as a result of incessant shut-in of planned output for the period.
A review of the NUPRC data covering the whole of last year revealed that Nigeria only managed to drill 43.3million barrels in January, turning out to be the highest output for the year; 35.2million barrels in February; 38.3million barrels in March and 36.5million barrels in April.
It deteriorated to 31.7million barrels in May; rose marginally to 34.7million barrels in June, before falling to 33.6million barrels in July last year.
In August, Nigeria produced 30.1million barrels, against the 58.2million barrels projection; followed by September in which Nigeria’s output fell to a multi-decade low of 28.1million barrels while in October and November, the country drilled 31.4million barrels and 35.5million barrels, respectively.
Furthermore, when recovery began to set in in December last year, the country managed to drill 38.2million barrels of oil, cumulating to around 417million barrels instead of the forecast of 700million barrels for the year by the Federal Government.
However, the crude oil production figures exclude condensates which are not included in the Organisation of Petroleum Exporting Countries (OPEC) calculation. In 2022, OPEC’s daily production allocation averaged 1.8million bpd.
Last year witnessed one of the worst in the history of the country as it consistently failed to meet its OPEC quota.
However, with the recent concerted effort to end oil theft in the country, there has been some recovery as underscored by the December output data.
Earlier this month, the Minister of State, Petroleum Resources, Chief Timipre Sylva, said Nigeria was working towards meeting its OPEC crude oil production quota of 1.8million bpd by the end of May 2023.
He explained that the Federal Government would continue to improve security along the tracks of the major crude oil pipelines and block every leakage through which crude oil is stolen by oil thieves and pipeline vandals.
But after months of stalling, Nigeria appears to be steadily on its way to meeting its OPEC production quota, hitting 1.235million barrels per day in December.
However, the figure differed markedly from the production of 1.59million bpd announced for the month by the Nigerian National Petroleum Company Limited (NNPC) earlier and the 1.35million bpd by a Bloomberg survey.
In January 2022, out of the expected 1.88million bpd production figure, 1.39million bpd was drilled.
In February, March, April, and May 2022, respectively, oil production fell steadily to 1.25million bpd, 1.24million bpd, 1.22million bpd, and 1.02million bpd, while in June it rose marginally to 1.15million bpd, before falling to 1.08million bpd in July.
In August, the oil sector hit a deadly blow on the Nigerian economy, slumping to 972,394bpd, and further falling to 937,766bpd in September, before rising to 1.014million bpd in October.
The Nigerian government has recently taken a rash of decisions to tackle the embarrassing oil theft situation in the Niger Delta, hiring local security groups as pipelines surveillance contractors.
Among those handed the security contracts was a firm belonging to a former Niger Delta warlord, Mr Government Ekpemupolo, also known as Tompolo.
In addition, the NNPC has announced that it can now monitor Nigeria’s oil infrastructure in real time with its new automated platform and has inaugurated a whistle-blowers scheme which rewards persons who report the activities of suspected oil thieves to the national oil company.
The Rivers State Chief judge, Justice Simeon Chibuzor Amadi has granted pardon to six inmates standing awaiting trial at the Port Harcourt maximum correctional center.
The six lucky inmates granted pardon on Tuesday by the state Chief Judge included Nwekeala Chizoba, Samuel Emmanuel, Aniete Kelvin, Ebube Fubara and Goddey Okpara who were on awaiting trial as murder suspects and have all spent between 10 years to seven years in the custody without a proper information filed against them in the court.
Justice Amadi during a special gaol delivery exercise last Tuesday at the Port Harcourt Maximum Correctional Centre opined that the special gaol delivery was part of activities lined up to commomerate the 2024/2025 legal year in the State and restated the commitment of the state judiciary in decongesting the correctional centre and ensuring that those inmates who are not supposed to be there are removed from the custody.
The state chief judge stressed the need for all stakeholders to work together to build a society that supports rehabilitation and gives a second chance to anyone or group of people who have fallen short of the expectation of the law and have been punished accordingly.
He stressed that the National Judicial Council(NJC) encourages judges to pay more attention to criminal matters to enable them to decongests the correctional facilities, noting that since his assumption into office, his administration has been able to reduce the number of inmates in Nigerian Correctional Centres and the Port Harcourt Correctional Centre in particular, to less than 2,000 as against the over 4,000 inmates previously in the faculty.
According to him, “as they release the deserving inmates, they affirm their commitment to justice, compassion and rule of law but that they must not forget the fundamental principles of justice delivery system which is truth and fairness, integrity and equality before the law.”
I encourage you all the released inmates to return to your families and become better citizens. You must not engage in action that will return you all back to prison. Let me say that while the judges show empathy to you all, it does not absolved individuals from being held accountable for actions against individuals, corporate organisations and state which the law frowns at, ”he stated
The Chief Judge thereafter stood down the exercise to enable the DPP to intervene to case files following the fact that majority of the persons listed to benefit from the exercise are facing murder charges and adjourned to a date that will come before December.
Earlier in his goodwill message, the outgoing state Comptroller of Nigerian Correctional Centre, Port Harcourt, Felix Lawrence, who was recently promoted to the rank of Assistant Controller General, commended the state judiciary led by Chief Judge, Justice Simeon Chibuzor Amadi for their continuous effort aimed at ensuring justice and decongesting the facilities.
Other activities lined up for the event included special church service at St Paul’s Cathedral , Anglican Communion, Rebisi Port Harcourt, inspection of guard of honour by the state Chief Judge mounted by officers of the Nigerian police and a special court session held at the ceremonial court hall.
By: AkujobiAmadi
The Director General of Rivers State Bureau on Public Procurement (RBoPP), Dr. Ine Briggs, has explained that the Sir Siminalayi Fubara administration plans to enforce transparency in governance through public procurement.
Speaking at a one-day Public Procurement Enlightenment workshop organised in collaboration with the State Local Government Service Commission for newly elected chairmen, vice chairmen, secretaries and leaders of legislative assemblies, Dr. Briggs said it is key for grassroot development.
She stated that the Sir. Fubara administration plans to reduce wastage and at same time infuse efficiency in public expenditure.
The RSoPP DG said the local government political office holders remain key drivers in the new vision hence the workshop is to arm them with knowledge on how to execute projects in tandem with needs of the people.
“ Your role in the prudent management of public resources is, therefore, not just administrative it’s the cornerstone of delivering the dividends of democracy. Every procurement decision you make must reflect a commitment to fairness, transparency and accountability” Dr. Briggs submitted.
One of the key goals of the administration she further reminded the participants was to use their offices to foster economic growth through public procurement.
She warned that the law establishing the agency empowers it to penalise defaulters, but that what is more important is voluntary compliance to the laws.
In addition to that, she said urged the local government council leaders that champion the practice and implementation of public procurement law.
On his part, Acting Chairman of Local Government Service Commission, Pastor GoodLife Ben Iduoku averred that the aim of the workshop is to arm key stakeholders in the local government system to generate new ideas, innovation and strategies in tandem with government policies and programmes.
The workshop dealt on various topics on procurement planning, methods, Understanding Bid Process, including types of Construction Contracts and law.
Some participants were awarded excellence and meritorious awards as part of the programme.
By: Kevin Nengia
The 19th anniversary of the National Association of Proprietors of Private Schools (NAPPS), Rivers State Chapter, recently ended in Port Harcourt in grand style, with participants from various schools including proprietors, the academia, civil society groups and top government functionaries charting the way forward for educational improvement.
The 19th NAPPS anniversary christened, ‘Innovation and Adaptation: Transforming Challenges Into Opportunities’ was held at Casoni Hotels, Port Harcourt.
In his remarks, the Chairman of the Rivers State Chapter of the association, Dr. Jaja Adafe Sunday expressed gratitude to the members and executives for their untiring efforts towards the achievements of the body.
He sought the intervention of government on the lingering crisis on the economy as it is affecting the running of schools.
He decried high cost of things including fuel and raw materials which has adversely affected the running of schools and payment of teachers.
Dr. Sunday hinted that the current economic situation in the nation is biting hard on the operations of schools, saying inflation, removal of fuel subsidy, fuel scarcity, poor electricity supply, tariffs and lack of government grants are some of the challenges faced by schools, and urged the members to brace up to the challenges, as it is the panacea to building a brighter future.
Guest speakers from the health sector and the academia thrilled the gathering on the essence of basic education which they said is the key to national development.
Former Dean of the Ignatius Ajuru University of Education, Professor Azuru and the Chief Medical Director of Meridian Hospitals, Dr. Odo Iyke were some notable guest speakers who delivered lectures at the occasion.
Some distinguished proprietors also got special recognitions and awards.
The 19th anniversary cake was cut by the Rivers State NAPPS Chairman with representatives of the state government assisting.