The Nation Newspaper

Author: The Nation

  • NUPRC to auction uncommitted gas fields

    NUPRC to auction uncommitted gas fields

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday unveiled its plan to commence the auction of uncommitted gas fields in the country in a matter of weeks.

    Its Chief Executive Officer (CEO), Engr. Gbenga Komolafe made this known to the Argentinian Ambassador to Nigeria, Alejandaro Herrero, who was on a courtesy visit to the commission in Abuja.

    “The commission will in a matter of weeks commence auction of uncommitted gas fields in Nigeria,” he said.

    This was contained in the NUPRC News posted in the commission’s official Twitter handle.

    According to him, “the petroleum fiscal systems is now opting for production sharing contracts (PSC) as a new model of agreement for the exploration and production of oil and has resources.”

    It said the commission has yet again recorded another feat by attracting more investments into the nation’s Oil and Gas Sector.

     Komolafe, who was unequivocal on Commission’s drive towards strengthening the oil and gas sector told the Argentinian Ambassador that, the commission has come up with robust regulations and policies that pave way for ease of doing business in accordance with global best practices.

     Herrero, however, declared his country’s willingness to key into the exploration and production of gas in Nigeria.

    Read Also: UK govt pledges more investments in Nigeria at N-BA 2023 Presidential Cocktail

    The envoy noted that his country is out to explore every opportunity for partnership and investment within the Nigerian gas fields.

    Recall that Komolafe had on Tuesday revealed that he was surprised that some awardees of the 2022 Nigerian Gas Flare Commercialization Programme (NGFCP) 49 flare sites cried out they may not find the volume of gas they envisaged from their sites.

    He said:  “It is therefore surprising to receive feedback from Awardees on claims by some producers that the forecasted gas volumes may not be available, only few months after.”

    Reading the Riot Act, Komolafe vowed to revoke the licenses of deviant producers/operators.

    He said: “At this juncture, let me categorically state that the Commission, under the provisions of the Petroleum Industry Act (PIA) 2021, and enabling regulations such as the Gas Flaring, Venting and Methane Emissions (Prevention of Waste and Pollution) Regulations 2023, will not hesitate to apply necessary measures to erring/deviant producers/operators to the extent of the ultimate consequence of revocation of licenses or leases.”

  • Firm boosts capacity of Oyo officials

    Firm boosts capacity of Oyo officials

    As part of efforts aimed at boosting the skill sets of the staff of Ministry of Finance and Management Information Centre (MIC) both of Oyo State, Soft Alliance, recently carried out a three-day intensive capacity building training session for them.

    Justifying the need for the training, faculty members of Soft Alliance, a trusted provider of cutting-edge IT solutions, said the primary goal of the comprehensive training was to empower participants with the expertise required to leverage the upgraded version of SoftSUITE effectively in their daily activities.

    The training programme, which brought together key representatives from MIC and the Ministry of Finance, was a dynamic and hands-on experience.

    Participants immersed themselves in the advanced features and capabilities of the upgraded SoftSUITE, designed to address the various challenges faced in the previous version.

    Read Also: FIRS sets deadline for shipping firms on tax compliance

    The Director of Debt Management, representing the Permanent Secretary, Ministry of Finance, Mrs Adenike Fashina expressed deep gratitude and appreciation to Soft Alliance for their unwavering commitment to upgrading SoftSUITE and for conducting the training for these essential stakeholders and noted that the upgraded version has effectively tackled the majority of the challenges that had been encountered in the previous iteration.

    Feedback from participants highlighted their satisfaction with the training’s hands-on approach and the upgraded SoftSUITE’s ability to resolve existing challenges experienced with version 1.

    The positive response underscores the significant impact of this training programme on the daily activities of MIC and the Ministry of Finance.

    This intensive training initiative showcases Soft Alliance’s dedication to continuous improvement and its mission to provide invaluable solutions and support to its esteemed clients.

    The company remains committed to delivering innovative software solutions that enhance efficiency and productivity across various sectors.

  • CNG: Expert calls for Green Energy Bank

    CNG: Expert calls for Green Energy Bank

    As the race for the use of Compressed Natural Gas (CNG) as alternative to premium motor spirit (PMS) gathers momentum, a renewable energy firm, Prostar Global Energy Group Ltd, has urged President Bola Tinubu explore the establishment of a Green Energy Bank (GEB) to address the huge cost that would be associated with engine conversion.

    Recall that the Chief Executive Officer, Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, Engr. Michael Oluwagbemi, had pegged between N300,000 and N600,000 as conversion cost of vehicles to run on CNG.

    Speaking in an interview, the CEO, Prostar Global Energy Group Ltd, Chief Hyman Udemba, commended the bold initiative of Mr. President which he said aligned with global shift from fossil fuels with its attendant impact on the environment to cheap and clean fuel but added that conversion cost might be a disincentive to many Nigerians who might be willing to key into the presidential initiative.

    He said though the conversion from petrol to CNG engines as a Federal Government-led program should have started about 15 years ago, it nonetheless worth doing now that it has been introduced.

    “The Federal Government may therefore set up a Green Energy Bank with sole aim of incentivizing vehicle owners to go green. It will then be the bank’s duty to conduct surveys that could yield expected result in that regard.

    “And since the estimated cost of conversion is within obligor limit of almost all Micro Finance Banks (MfBs), the Green Energy Bank or its equivalent may collaborate with select MfBs for ease of access to funds,” Udemba said.

    He said CNG, as an efficient combustion process that leads to clean and greener environment, involves a lot of processes which include procurement and installation of CNG kits which involves a lot of technicalities and tests that vary from one automobile type and age to another, stressing that training of the installers was also key.

    Read Also: UK govt pledges more investments in Nigeria at N-BA 2023 Presidential Cocktail

    “The kits take up larger boot space which might affect the acceptance of the project as Nigerians are used to carrying high volume of luggage in their boots,” he said.

    According to Prime Solar Power Ltd CEO, it took many years for oil marketers to build petrol station across the country, adding that more petrol stations are still being built.

    “Evidently, the establishment of CNG refill stations may take a long while to spread meaning that aside the installation technicalities, making the gas available for the consumers at convenient locations may pose another challenge. This is where the establishment GEB becomes necessary to take care of the funding challenges that might come with the initiative,” he said.

    He said the program is doable as it has been done in other parts of the world, arguing that for the conversion cost not to serve as a disincentive for many, GEB would help come out with repayment plan which will not be felt deeply by the people.

    “Agreed that the high cost of petrol might be a reason for one to wish to switch to gas, the initial cost for the conversion remain a disincentive which the GEB would address. This will no doubt enhance the success of the initiative,” Udemba who is COREN certified; member of Nigeria Society of Engineers (NSE) technical partner, National Agency for Science and Engineering Infrastructure (NASENI), said.

  • ‘No to event centres in Ikeja GRA’

    ‘No to event centres in Ikeja GRA’

    The Revised Ikeja Model City Plan is clear on the land use zoning of Ikeja GRA as strictly residential. It is important to clarify that the law, as reflected by the Lagos State Physical Planning Permit Authority (LASPPPA) is obligated to allow only residential developments in the area.

    In a statement LASPPPA, General Manager, Kehinde Osinaike said the clarification becomes important in view of the baseless claim by a developer that LASPPPA sealed his site, where he was constructing an event centre at Ikeja GRA for personal reasons.

    The Lagos State Urban and Regional Planning and Development Law,  2019 as amended and LASPPPA Regulations 2019 are clear on the mandate of the LASPPPA to issue permits to qualified applicants and ensure the sanctity of the Master/ Model City Plans of Lagos State, which the government invested heavily on to ensure seamless development of the State for the benefit of all.

    Read Also: FIRS sets deadline for shipping firms on tax compliance

    It is noteworthy that, in line with the livable,  organised and orderly built environment vision of Lagos State, the State does not joke with the application of its planning laws, no matter whose horse is gored. It is only people who have refused to pay heed to warnings that usually fall victim to sealing, demolition, and other severe punishments.

    I strongly believe that our nation will know true development when the elites begin to seek common good and weigh individual interest against public interest. It profits the society for us to obey the law, build rights, and not resort to needless blame game or blackmail.

    To forbid the basterdisation of the Revised Ikeja Model City Plans, I strongly advise developers who are interested in event centres  and other forms of commercial developments in Ikeja GRA to look for other sites elsewhere,  where such will be permissible.

    Property owners and developers are hereby enjoined to respect the Lagos State Government’s zero tolerance for illegal developments by taking advantage of the State Ministry of Physical Planning and Urban  Development free Planning Information service to guide in proper site selection.

  • RedCloud, Paystack partner to expand digital payment options

    RedCloud, Paystack partner to expand digital payment options

    RedCloud Technologies has announced a strategic partnership with Paystack, a digital payment provider in Nigeria.

    The partnership with Paystack will ensure that all B2B transactions initiated on RedCloud’s Intelligent open commerce platform (Red101 app) are processed in line with the Central Bank of Nigeria’s regulatory policies and guidelines for digital payments, ensuring due diligence and compliance with all relevant requirements, according to a statement.

    “Customers on RedCloud’s Intelligent open commerce platform, Red101, will now enjoy convenient payment options using payment tokens from Paystack,” the statement said.

    It said digital payment channels will enable businesses to accept and make payments via instant bank transfers, debit and credit cards, USSD, and QR codes, enhancing the payment experience for both distributors and merchants on the platform.

    Read Also: UK govt pledges more investments in Nigeria at N-BA 2023 Presidential Cocktail

    “Retailers and merchants can join the platform by downloading the Red101 app on the Google play store.”

    General Manager at RedCloud Nigeria, Ebere Ogwumoyi, said the collaboration is a significant milestone in the company’s ongoing efforts to provide secure, transparent, and efficient digital payment solutions to our 100,000 customers (brands, distributors and retailers).

    “It further enhances the transaction experience on our AI-powered intelligent open commerce platform, ensuring businesses operate in a secure and regulatory-compliant environment,” he added.

    Head of Product Africa at RedCloud, Adeyemi Ogunyemi, said the singular partnership will grant customers access to digital services and other Value-Added Services on their Red101 marketplace.

    “The automation of the customer journey is imperative in achieving financial inclusion, improving the user experience, and providing secure transactions at all times on the AI-driven RedCloud open commerce platform,” he said.

  • Nigeria, Mexico seal trade deal

    Nigeria, Mexico seal trade deal

    Nigeria and Mexico have signed a trade deal that would boost trade between the two countries.

    Presently, Nigerian export to Mexico is $1,780million while importation from Mexico is $124,145,000. On export to Mexico fertilizer export tops the list followed by other agricultural products.

    The Executive Director CEO Nigerian Export Promotion Council (NEPC), Nonye Ayeni disclosed this during the signing of MoU between Nigeria and the Mexican Business Council for Foreign Trade Investment and Technology (COMCE) in Abuja.

    Ayeni said: “Among the non-oil products exported to Mexico are agricultural products, such as Cocoa, hibiscus and solid minerals-like tin and limestone. The 2022, published reports by the international trade centre Geneva showed that import from Mexico by Nigeria totaled $124,145,000, while Nigeria’s export to Mexico was worth $91,780,000.

    “In 2022, Nigeria exported $79.3Mmillion worth of fertilizer to Mexico while Mexico imported $3.5billion from other sources. Nigerian export of Sesame seed to Mexico was $3.1 million while Mexico imported $13.3million worth of Sesame seed from other markets. Mexico also imported soyabean worth $2.6billion from other sources in 2022.

    Read Also: FIRS sets deadline for shipping firms on tax compliance

    “Fertilizer, Urea, Sesame, Soyabeans and groundnuts are low hanging fruits for Nigeria to optimize her productive capabilities and to expand export to Mexico within the shortest possible time. The government expects Mexico to forge technical relationship with Nigerian exporters, to also develop sectors where Mexico has excelled particularly in the areas of cosmetics, garments, textile, pharmaceutical, electronics, entertainment and services.”

    The Mexican Ambassador to Nigeria,  Amb. Alfredo Miranda said Mexico has played an important role in the world economy, adding that trading with Nigeria is quite complex because of the nature of trade and exchange. “We have seen changes by trading with Nigeria,” he said.

  • Ceasefire in Gaza Strip will last for 10 days 

    Ceasefire in Gaza Strip will last for 10 days 

    The planned Israel-Hamas ceasefire would last no more than 10 days, during which up to 300 Palestinian inmates will be exchanged for up to 100 live Israeli captives,

    This is contained in a story in the Times of Israel yesterday, quoting the Israeli Cabinet.

    Israel has placed Gaza under siege and relentless bombardment since a Hamas attack on Oct. 7, which killed 1,200 people, mostly civilians, according to Israeli tallies.

    Since then, more than 13,000 Gazans have been killed, about 40 percent of them children, according to medical officials in the Hamas-ruled territory, figures deemed reliable by the United Nations.

    Qatar has confirmed that it successfully mediated a ceasefire deal between Israel and the Islamist movement Hamas in the Gaza war.

    Qatar confirmed that Hamas is to release 50 hostages and in return, with yet to be undetermined number of Palestinians to be released from Israeli prisons.

    “The number of those released will be increased in later stages of implementing the agreement,’’ the post said.

    Qatar added that the humanitarian pause would also allow the entry of a larger number of humanitarian convoys and relief aid, including fuel designated for humanitarian needs.

    “The State of Qatar affirms its commitment to ongoing diplomatic efforts to de-escalate tensions, stop the bloodshed, and protect civilians.

    “In this regard, the State of Qatar appreciates the efforts of the Arab Republic of Egypt and the U.S. of America in reaching this agreement,’’ the post said.

    The Israeli news website Ynet also reported that Israel intends to pass on the names of the hostages to Hamas.

    Read Also: Nigeria loses $500 yearly to cybercrimes, says Senate

    Part of the agreement is also said to be that kidnapped mothers and children will not be separated upon release.

    According to the Times of Israel report, the hostages must be Israeli citizens or residents of the country.

    Exactly who falls under this definition was not disclosed.

    In the first phase, Israel plans to release 150 Palestinian prisoners as soon as 50 hostages have been released.

    All those affected would be released in stages over four days, with at least 10 hostages released each day.

    In a second phase, up to 150 further Palestinian prisoners are to be released from Israeli prisons – if, in return, up to 50 hostages are brought back to Israel.

    Again, at least 10 abductees would have to be released in each phase.

    According to the report, there would then be an additional 24-hour ceasefire for every 10 hostages released.

  • Biden welcomes temporary ceasefire agreement

    Biden welcomes temporary ceasefire agreement

    U.S. President Joe Biden has welcomed the temporary ceasefire agreement between the Palestinian militant group Hamas and Israel that will see the release of some hostages currently held in the Gaza Strip.

    “I am extraordinarily gratified that some of these brave souls have endured weeks of captivity and an unspeakable ordeal.

    Read Also: How Tinubu is fighting insecurity, by Gbajabiamila

    “It will be reunited with their families once this deal is fully implemented,’’ Biden said in a statement.

    Biden thanked Qatar and Egypt for their “critical leadership and partnership’’ in negotiating the deal.

  • Kano: NNPP asks Supreme Court to reverse Appeal Court’s judgment

    Kano: NNPP asks Supreme Court to reverse Appeal Court’s judgment

    The New Nigeria Peoples Party (NNPP) has asked the Supreme Court to reverse the November 17 judgment of the Court of Appeal, affirming the sack of its candidate, Kabir Yusuf as the Governor of Kano State.

    In a 10-ground notice of appeal filed yesterday, the NNPP also wants the apex court to “make an order upholding the portion of the judgment of the Court of Appeal, setting aside the judgment of the trial tribunal in petition No: EPT/RV/GOV/11/20235 and making order as to cost in favour of the appellant (NNPP).”

    The NNPP is contending,  in its first ground of appeal, that the Justices of the Court of Appeal erred to have, after noting that it’s candidate score the majority of votes cast, proceeded to hold at page 60 of its judgment that “when section 134(1)(a) of the Electoral Act , 2022 is juxtaposed and read in conjunction with section 177(c) of the Constitution of the Federal Republic of Nigeria 1999 ( as amended ), it is clear that a door, or at least a window, of jurisdiction has been opened to a court or tribunal to entertain and determine a claim or an assertion in an election petition that the person, whose election has been challenged, was not qualified to contest the election because he was not a member of a political party.”

    Read Also: Alake tours agencies under Solid Minerals ministry

    The NNPP also faulted the Appeal Court for allegedly delving into “alternative hypothetical scenario that party register could sustain ground of disqualification of 1st respondent (Yusuf) if the objection to the ground had not been upheld and thus disqualified appellants’ (NNPP) candidate by holding, at page 63 of the judgment to overrule the trial court.”

    It also stated that  Court of Appeal erred when it held that “if, as rightly found by the tribunal, that the appellant, Yusuf Abbe Kabir was not a member of the 1” respondent (NNPP) as at the time he was purportedly sponsored for the governorship election held on the 18th day of March 2023, then be was not qualified to contest the election by virtue of Section 177 (c) of the Constitution.

  • Protest rocks Kano over Appeal Court verdict

    Protest rocks Kano over Appeal Court verdict

    A detachment of the police battled yesterday to disperse protesters on the streets of Kano city, capital of Kano State.

    The protesters seized the Dan Agundi area of the metropolis to the fate that befell Governor Abba Yusuf last Friday at the Appeal Court.

    The fresh protests followed the Certified True Copy (CTC) of the judgement which appeared in public domain and seemed contrary to the verdict of the appellate court.

    Some of the protesters demanded justice.

    The State Command of the Police had vowed to clamp down on any group protesting in the state following the sacking of the governor.

    Yusuf, of the New Nigeria Peoples Party (NNPP), was in March declared winner by the Independent National Electoral Commission (INEC) as the winner of the governorship poll.

    But the state governorship election petitions tribunal sacked him in September, a decision that was last Friday upheld by the Court of Appeal, which said that Yusuf was not in the NNPP’s register, making him unqualified to contest the election.

    Read Also: Abandoned N500b CCTV project: Senate seeks probe over rising insecurity

    The court declared the All Progressives Congress (APC)’s Nasiru Gawuna as the winner of the poll in a move that has caused tensions in the Northwest state.

    In Zamfara, the appellate court sacked Governor Dauda Lawal of the Peoples Democratic Party (PDP) when it declared the poll inconclusive, eight clear months after the poll.

     The court ordered INEC to conduct a fresh election in three local government areas of the state.

    PDP’s Lawal and APC’s Bello Matawalle are the major contenders in the race.

    On Sunday, the appellate court sacked PDP’s Caleb Mutfwang in Plateau State and ordered INEC to issue Certificate of Return to APC’s Nentawe Goshwe.

    The court held that the party violated the court order that a valid congress be conducted in the 17 local government areas of that state.