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Tag: Abuja

  • Nigeria hits 2.2m barrels per day

    Nigeria hits 2.2m barrels per day

    Nigeria’s crude oil production yesterday hit 2.2million barrels per day, according to the Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru.
    He spoke at the 6th Sustainability in the Extractive Industries (SITEI) conference in Abuja. The theme of the conference was “Building Local for Global.”
    The target, he said, is to build up the country’s oil reserve to about 2.5mb/d and its subsidiary; the Nigerian Petroleum Development Company (NPDC), has already transformed from 15,000mb/d to 210,000mb/d.
    He said the corporation had identified seven critical gas projects in order to enhance power supply and stimulate industrial growth.
    The NNPC’s Chief Operating Officer, Oil and Power, Mr. Mohammed Saidu, who represented him attributed the increase in production to the peace in the Niger Delta.
    He said that the calmness in the Niger Delta and renewed efforts in the North East are indications that the corporation has renewed its strength for building oil reserves.
    Baru said: “Current production is building up, we are doing about 2.2 million barrels per day today, but of course, the intension is to build on that, sustain production and grow it up to about three million barrels per day in the next few years.”
    “We have to grow the reserves. We have had little or zero exploration for the past years, but thank God we are now renewing that. With the calmness in the Niger Delta and some of the efforts in the North-Eastern region, we have now renewed our vigor towards building the reserves.
    “And so in that way we have gone back to the Benue Trough and the Chad Basin. Although the Chad Basin is slightly behind, in the sense that we were about to go back when security challenges erupt, we are just waiting for the final green light for us to go back there.
    “Again all these are towards building the reserves, for is you build up the production to about 2.3 or 2.5 million barrels per day, you need the reserves to sustain that volume. The NPDC has grown production from a mere 15,000 barrels per day to about 210,000 barrels per day as at today.”
    Baru also stated that the corporation had reclaimed the three main pipelines that supply crude oil to the refineries and that the product lines had also been reclaimed.
    He added that “For the first time in the last five years we have been pumping products from Kaduna to Kano and this is in effort to reclaim the inland distribution and storage capacity that the NNPC has built over the years.”
  • NEITI worries over paltry $3.9b oil savings 

    NEITI worries over paltry $3.9b oil savings 

    • Seeks consolidation of oil savings accounts
    The Nigeria Extractive Industries Transparency Initiative (NEITI) was yesterday worried that all that the country could save from its oil proceeds between 1980 and June 2017 is $3.9billion.

    The Executive Secretary, Waziri Adio made this disclosure yesterday in Abuja, during the presentation of its occasional paper titled “the case for a robust oil savings fund for Nigeria.” The report stressed the need for savings and more savings despite the oil bench mark price.

    His words: “Nigeria currently has three oil savings funds. They are the Sovereign Wealth Fund with $1.5billion, the Excess Crude Account $2.3billion, and the Stabilisation Funds with N29.02billion  ($95million).

    “In the last 40 years of oil production, Nigeria has extracted about 31billion barrel of its oil reserves. However, from 1980 to 2015, the country exported crude oil worth about $1.09trillion but has a current balance of $3.9billion as at June 2017 in the three funds.”

    He, however, called on the Federal Government to consolidate all oil trust funds into the Nigeria Sovereign Wealth Fund to yield return on investment.

    He added that with 3.9billion dollars in Nigeria’s oil savings funds which merely accounts for 16% of the 7.44trillion naira of the federal budget shows that the Nigeria economy is highly vulnerable and unprotected.

    According to the NEITI boss, “when people are talking about how we ended in this trouble and how we will get out of it little attention is paid to savings, that we didn’t have enough savings, when the prices were high we thought it would be high forever living in Fools paradise and when the prices fell we didn’t have enough to fall back on.” He added that Nigeria has to move away from its present state of spend it all or even save and spend attitude to real savings culture, otherwise the country will continue to be vulnerable.

    The report disclosed that most countries that established one or more oil revenue funds have accumulated huge savings in their stabilisation accounts. On the other hand, Nigeria’s ECA has been dogged by questions about its Constitutionality, which have hindered regular remittances into the accounts. But the ECA also faces governance issues bordering on transparency and failure to adhere to the fiscal rules guiding the operations of the ECA.

    In the end, distrust by subnational governments about the management of the fund coupled with the lack of political will has prevented the government from effectively implementing its savings and stabilisation policy.

    The Chief Executive Officer
    recalled that this is not the first time we are going to be experiencing an economic downturn, adding that when Nigeria faced a similar challenge in 2008/2009, the country had a chance dealing with the situation and without having to borrow as Nigeria had in excess of 60 billion dollars in reserves.

    In his words “We were one of the very few countries that didn’t have to go and borrow, and we didn’t have to go through what we are going through now and this happened 2008/2009 and by the time the prices started rising again and selling above 100 dollars we were just blowing it”

    The report, however, recommends that The federal government seeks speedy resolution on Supreme Court cases related to oil funds, and delink government expenditures from oil revenues to pursue policy initiatives that pursue prudent macro economic policies, better economic and social environment for the next generation.

    In addition to ensuring that there are constant savings whether oil prices are high or low and provide regular payouts from the return on investment of the funds to compensate beneficiaries for their sacrifice.

  • Abuja gets more electricity

    With the commissioning of the Kukuaba Transmission Station, the Abuja Electricity Distribution Company (AEDC) has said that it is now reinforced and better positioned to provide more electricity to its customers.

    Speaking at the ceremony in Abuja, where the Minister of Power, Works and Housing, Babatunde Fashola was represented by the Permanent Secretary, Mr. Louis Edozien, the Managing Director of AEDC Mr. Ernest Mupwaya explained that the company can now distribute power directly to Lugbe and its environs.

    This, according to him, is that the line from which the consumers are now getting their power is nearby.

    He added, saying, “Those who are being served from Katampe in Gwarimpa, Life Camp, Mabuchi, Maitama, Wuse II, Jahi and others will also enjoy improved supply. This is so because it has now been freed of the power it was releasing to Lugbe. In the long time, we will have the capacity to take more electricity.”

    According to him, the firm has reinforced 4,048 sub-stations in its network through maintenance services while surveying the protection system of 68 others.

    Speaking earlier at the opening session of the 17th Power Sector Meeting in Abuja, the said the reinforcement was to boost power supply and enhance health and safety in its operational environment.

    The AEDC boss noted improvement in the power sector, saying, “The usual discussions in the past about power deficit is gradually giving way to discussions about increased power not being utilised. This is further supported by the rate at which incremental generation is being commissioned in the industry.”

    He noted that commissioning the 132/33Kva Kukuaba transmission sub-station by the federal government shortly after the meeting would boost power supply directly in Lugbe area of the Federal Capital Territory (FCT).

    Majority of customers in Abuja city such as Maitama, Wuse II, Gwarinpa and Mpape will also benefit from improved supply because of the freed capacity in the Katampe transmission substation, Mupwaya added.

    Reeling out other achievements of the Distribution Company (DisCo) since it was privatised in 2013, he said, “We have completed Large Power Users (LPU) metering of 3,885 customers by February 2017; flagged off metering of Small Power Users (SPU) in December, 2016 and close to 90,000 are metered so far.”

    AEDC said it has improved the organizational design, corporate governance and compliance, and improved training for its personnel.

    The Permanent Secretary in the Ministry of Power, Engr. Louis Edozien who chaired the meeting said the ministry has rolled out policy directives to address limitation of 33Kv and 11Kv distribution infrastructures across the DisCos to solve the issues of power unutilisation often tagged as load rejection.

    Edozien urged the DisCos not to feel threatened by the recent ‘Eligible Customer’ pronouncement that will allow certain customers to buy power directly from the Generation Companies (GenCos). He said the declaration will strengthen their services and improve revenue base to tackle the liquidity crisis in the sector.

    He also revealed that the Market Operator and the Nigeria Bulk Electricity Trading Plc (NBET) are in the process of restructuring the bulk energy debts owed by DisCos to help them raise financing while improving their services to customers.

     

  • FG to deploy drones in aviation industry 

    FG to deploy drones in aviation industry 

    The Minister of State for Aviation, Hadi Sirika on Monday said that the Federal Government will explore the good uses of drones in the Nigeria aviation industry.

    He made the remark at the end of closed door meeting with Acting President Yemi Osinbajo at the Presidential Villa, Abuja.

    President of International Civil Aviation Organisation (ICAO), Olumuyiwa Benard Aliyu, was part of the delegation that met the Acting President on Nigeria’s hosting of symposium on remotely piloted aircraft system.

    Sirika said “Nigeria is going to benefit immensely through this symposium. They have created awareness and we will use the outcome of the symposium to regulate more efficiently the use of unmanned air vehicles.

    “We are not going to over regulate but for sure we will regulate so that we will remain safe and secure and then make the industry much more efficient.

    “We will tap from the good uses of drones. We have seen during the symposium on how we can use drones to send blood samples, to rescue someone with heart attack or to deliver pizza or to take aerial photograph and so on.These are some of the benefits of unmanned vehicles

    “We hope that by regulating we will eliminate the dangers. For example if one unmanned vehicle is capable of carrying loads, you could think of them carrying a kilogram or two of bomb, with GPS and remotely piloted from a bedroom it can go and be dropped somewhere.

    “At this symposium we will share ideas and come up with solutions on the good uses of the drones and of course over the bad uses,” he said.

    On the Acting President’s response, he said “He has one himself and has flying drones himself, he is very much conscious and aware and he gave us the support and guidance that we need. He even warned that we should not over regulate so that we will not send people away.”

    Aliyu thanked the Acting President at Nigeria is hosting the symposium.

    He said that he was also in the Villa to express appreciation tothe government for the investment and support that is givento aviation development in Nigeria, which is supporting development of aviation in Africa and globally.

    He said “For Nigeria being a very responsible member of ICAO, I am also here to express the support that I still intend to continue to provide in this aviation development and to urge government to put aviation as the corner stone of the national development.”

     

  • Quit notice: OMPALAN urges dialogue

    Following the insistence on the October 1 quit notice that the Coalition of Northern Youths has given to the Igbo in northern Nigeria, the Oil and Solid Minerals Producing Area Landlords Association of Nigeria (OMPALAN) on Monday urged the Federal Government to call all the aggrieved parties to a negotiation table.
    OMPALAN’s National Facilitator, Barrister Sam Oduh Ezediaro, who made this call in a statement, said the quit notice which has also got the blessing of some of the elders in the north is worrisome.
    He, however, noted that although there could be excuses to balkanize the country, a united sovereign Nigeria, where there is rule of law, will still fare better than a divided one.
    He said that: “The various crisis rocking the nation should be seen as a clarion call to good governance by the political leadership. While there may be glaring reasons for break up we, as a nation will fare much better under a united sovereign nation that is driven by the rule of law.
    “The Federal Government should provide an enabling environment for dialogue in order to bring aggrieved individuals and organisations to a negotiating table where burning issues can be properly addressed.
    ” I, therefore, wish to appeal to those campaigning for self determination to sheath the sword and accept dialogue as the most effective tool to resolve conflicts.”
    He noted that the quit notice is worrisome because the country has been battling to recover from the havoc of the civil war which claimed three million lives and retarded the economy.
    OMPALAN  admitted that that governance challenges have made the ordinary Nigerian miserable.
    Continuing, the statement added that : “The nation’s economy which is driven largely by oil is manifestly in deep recession due to global shock in oil price coupled with our dwindling foreign reserve that is regularly tampered with to make up for budget deficit. “Our Country, Nigeria is really in a mess bringing to fore the issue of political leadership which is actually fueling the ongoing agitations for self-determination across Nigeria’s vast ethnic nationalities.
    “The perception of injustice and inequities are spreading like wild fire beyond the frontiers of political and ideological divides. With tempers running high there is the tendency to shift the blame to government and not just government but, to those holding the levers of power. This is understandable especially in view of the biting austerity that does not seem to abase.
    “However, Nigerians are extraordinary people who are known all over the world to overcome trying periods in the nation’s history. Nigeria survived a traumatising civil war that led to the death of over 3 million people.
    “Nigeria survived the shock of the 2000 shariah-induced crisis that resulted in the avoidable death of thousands of innocent Christians in the north and reprisal killings of Moslems in the South. Nigeria survived the rage of crippling armed campaigns by militants in the Niger Delta region.
    “Nigerians should not loose sight of the war ravaging the north east of our Country by the dreaded Boko Haram terrorists with attendant heavy toll on life and property. The Boko Haram war in the north east of Nigeria has claimed several thousands of lives including our brave soldiers that fell to the savage bullet of anarchy.
    “These innocent, patriotic and gallant citizens sacrificed their lives while fighting to restore constitutional peace and order in war-torn north east Nigeria.
    “Worse still, is the devastating effect and nightmarish experience of fellow Nigerians who were displaced in their thousands from their once-peaceful war-torn areas and are now forced to live in sub-standard make-shift camps.
    “Finally, I commend the effort of OMPALAN and other peace-loving organizations across the Country for making bold effort to sue for peace. Our Country, Nigeria will fare better when we resolve to live together under a sovereign and united nation founded on peace, justice and equity.
    “The greatest threat to sovereign Nigeria is insecurity especially the spirited effort of religious bigots to take over the reins of government and force their evil agenda on the Country. This is an area President Buhari has done very well and must be commended by all Nigerians.
    “If Boko Haram had succeeded nobody would be talking of the rule of law or injustice or inequity. Nigerians of all climes must therefore come to terms with the stark reality on ground and pray fervently for the quick recovery of President Buhari to enable him finish the war successful against terrorism in the north east and by extension the entire Country.”
  • PDP holds expanded National Caucus, BOT, NEC meetings July 17

    PDP holds expanded National Caucus, BOT, NEC meetings July 17

    The People’s Democratic Party (PDP) has fixed its expanded National Caucus, Board of Trustees (BoT), and National Executive Committee (NEC) meetings for Monday. July 17.
    The notice of the meeting was jointly issued in Abuja on Saturday by Sen. Ben Obi, the National Secretary of PDP National Caretaker Committee, and Amb. Aminu Wali, the National Secretary of BOT for BOT Chairman.
    It stated that the meeting of the expanded National Caucus would hold at 8 a.m, at PDP National Secretariat (Wadata Plaza), Abuja.
    Those invited to attend the meeting were former presidents and vice presidents, PDP governors, NEC members, BoT members, National Assembly members, former PDP governors, former PDP ministers and all former national officers of the party.
    It added that the BOT and NEC would also be holding separate meetings on Tuesday, July 18, at the same venue.(NAN)

  • IAEA rates Nigerian nuclear infrastructure high

    IAEA rates Nigerian nuclear infrastructure high

    • Seeks independence for NNRA

    The International Atomic Energy Agency (IAEA) on Wednesday gave the Nigerian Nuclear Regulatory Authority (NNRA) a clean bill of health, describing it as a committed regulatory body that works for the continuous improvement of nuclear and radiation safety.

    An interim report that the IAEC Integrated Regulatory Review Service (IRRS) mission’s chairman, Lamberto Mattoecci presented on the 10-day mission, however, observed that the NNRA was still enmeshed in challenges related to its independence in implementing regulatory decisions and activities.

    Presenting the report in Abuja, the IAEA recommended that the “government should ensure that the NNRA is effectively independent and it is functionally separated from entities having responsibilities or interests that could influence its decision-making.”

    It also recommended that the government should establish a national policy on safety and ensure that the corresponding legal framework is in line with IAEA safety standards.

    It recommended that the NNRA should carry out an analysis of all competencies needed to cover its responsibilities, develop and implement a human resources and training plan.

    IAEA urged the regulatory body should ensure that all facilities and activities have a valid authorization, and establish and implement an enforcement policy to respond to non-compliance,
    The NNRA, according to Mattoecci, should consider formalising cooperation with other authorities having responsibilities related to safety.

    He submitted that the final mission report will be provided to Nigeria in about three months. Mattoecci revealed that “Authorities in Nigeria have told IAEA that they plan to make the report public.”

    The 12-member IRRS team comprised of senior experts from France, Germany, Greece, India, Italy, Latvia, Morocco, Pakistan, Slovenia, Turkey, and Zimbabwe, as well as IAEA staff members.

    The Nigerian government, according to him, “will work with the IAEA to develop a work-plan for the implementation of the mission’s recommendations and suggestions,”

    On the findings, the mission said that “The IRRS team recognises the strong commitment of Nigeria to improving nuclear and radiation safety. The team was extended full cooperation by all parties in this review,” said Lamberto Mattoecci, Technical Coordinator for Nuclear Safety and Radiation Protection at the Italian Institute for Environmental Protection and Research (ISPRA).

    He added that “We believe the outcome of this mission will be of great help to the country in order to enhance its national regulatory framework.”

    Speaking at the press briefing, NNRA Director General, Prof. Lawrence Dim noted that the action- plan is the basis for the work, stressing that many of the recommendations will be addressed.

    The NNRA boss said: “Someone also asked what is the expectation before the team will come back in three years time. We have not decided when they will come back. But after we decide we will come again to look at what we are doing. It is a continuous process.”

  • My suspension intended to gag me – Ndume

    My suspension intended to gag me – Ndume

    …Urges court to void Senate recommendation on him

    Senator Mohammed Ali Ndume (All Progressives Congress, Borno South Senatorial District) has said his suspension was intended by the leadership of the Senate to silence him and prevent him from commenting on what he perceived to be wrong.

    Ndume accused the Senate President, Bukola Saraki and the Senate leadership of ignoring intervention from traditional rulers from his part of the country, who have intervened to have him recalled.

    The Senator, who faulted his suspension for 90 days, said the Senate was without powers to suspend him from his seat and deny his constituency its deserved representation.
    Ndume said these in a suit filed by his lawyer, Marcel Oru, before the Federal High Court, Abuja.

    The suit marked: FHC/ABJ/CS/551/2017 has the Senate President, the Senate of the Federal Republic of Nigeria and Senator Samuel Anyanwu (Chairman, Senate Committee on Ethics, Privileges and Public Petitions) as defendants.

    Ndume argued that his suspension was intended by the Senate leadership to get back at him for merely raising questions about issues relating to the conduct of privileged individuals in the Senate.

    The Senator was suspended when he drew the Senate leadership’s attention to media publications to the effect the Senate harassment of the Comptroller General of Customs (CGC), Hameed Ali was in respect of the seizure of a vehicle imported for Saraki, using forged papers. And the controversy over Dino Melaye’s educational qualifications.

    He noted that fellow legislators, who made similar observations in the past were neither suspended not penalised as was done to him under the Saraki-led Senate.

    Ndume said: “Senators of the Senate of the Federal Republic of Nigeria or members of the House of Representatives and indeed, all legislators have the privilege to express themselves on the floor of the Senate or House of Reps and all previous matters as the present one have not attracted suspension or punitive action.

    “In the scandal on variation in the name of Evan Enwerem, the Senator, who raised the matter was not suspended. In the certificate scandal involving Alhaji Aminu Bello Masari, the member, who raised the issue was not punished after clearance of Masari.

    “In the certificate scandal involving Hon. Dimeji Bankole, the member, who raised the issue was not punished after the clearance of Bankole. In the certificate scandal involving Hon. Patricia Etteh, the member, who raised the issue was not punished after the investigation and clearance of Etteh.

    Ndume said, in a supporting affidavit to his originating summons, that his purported suspension was “a calculated attempt to gag, intimidate and indeed, over awe me and any outspoken Senator of my ilk and fore close me the right to represent the people of Borno South Senatorial District.

    He said: “The committee was to investigate the veracity or otherwise of the aforesaid allegations contained therein and not to impose any punishment on me as I was not the author of the publications and the issue of punishment came to me as a rude shock as I was not given any fair hearing on the issue of my suspension for allegations that I never published.

    “The authors of the aforesaid publications were, at no time, invited by the committee in its investigation nor were they heard or sanctioned by the committee. The committee, in recommending punishment/sanction of suspension of 181 legislative days (one year) for me went or acted outside their powers.

    “I am a member of the Presidential Committee on North East Initiative (PCNI) charged with the responsibility of the reconstruction, resettlement and rehabilitation, using the Buhari plan and my suspension will deprive me and my constituents of meaningful contributions thereto.

    “All attempts by the Governor of Borno State, traditional rulers from Borno State, distinguished and eminent personalities from the North East region of Nigeria to resolve my suspension with the 1st and 3nd defendant has proved abortive to resolve and recall me,” Ndume said.

    He wants the court to declare his suspension unlawful and to set aside the purported suspension contained in a letter by the Senate dated March 30, 2017.

    Ndume, who seeks N500m compensation for his unlawful suspension, urged the court to order Saraki amd the Senate to pay him all his outstanding salaries and allowances forthwith.

    On July 6, Justice Babatunde Quadri directed the service of processes on the defendants, which the plaintiff effected last Monday.

    Hearing in the case has been fixed for September 1.

  • Cleaner bags one month imprisonment for criminal trespass

    Cleaner bags one month imprisonment for criminal trespass

    A Karmo Grade 1 Area Court, Abuja, on Tuesday sentenced one Halidu Adamu, 27, to one month imprisonment for criminal trespass and theft.

    The judge, Alhaji Abubakar Sadiq, however gave him N6,000 option of fine and warned him to desist from committing crimes.

    Adamu, who resides at Jabi in Abuja, was convicted on a two-count charge of criminal trespass and theft.

    The convict prayed the court to temper justice with mercy.

    Earlier, the prosecutor, Zannah Dalhatu, told the court that a team of policemen attached to Utako Police Station, Abuja, arrested the convict on July 6.
    Dalhatu said that the convict was arrested with a block molding machine valued at N20, 000.

    During police investigation, he confessed to the crime, that he stole it from a construction site along Jabi-Wuye Road.

    The prosecutor said that the offences contravened the provisions of Sections 342 and 288 of the Penal Code.

  • BPE seeks to 20% of deferred entities via public listing

    BPE seeks to 20% of deferred entities via public listing

    The Bureau of Public Enterprises (BPE), according to its Director General, Alex Okoh, is working with core investors in some privatised enterprises sold by deferred public offering to ensure they sell at least 20 percent of such entities to the market through public listing.

    He said that “BPE is working with core investors in certain privatised  enterprises sold by deferred public offering to ensure that they sell at least 20% of such entities to the market via public listing.”

    The Head of Public Communication, Mr. Chukwuma Nwokoh, who made this known in a statement yesterday, said that Okoh spoke via a paper titled Creating An Enabling Environment For Public Listings Of The Economy’s Commanding Heights: The Case For Telecommunications & Energy Sectors.

    The statement added that the paper that was presented at the 2017 annual national workshop of the Chartered Institute of Stockbrokers in Abuja.

    Okoh said that Public listings remain a strategic objective of the reform and privatisation programme of the Federal Government.

    He added that the privatisation agency would  develop policies to attract additional private sector capital into the privatised companies “which will eventually give confidence to the business and encourage listing”.

    To achieve that, Okoh explained that the Bureau would henceforth ensure that the right core investors with the financial, technical and managerial competences are selected to ensure that they are capable of moving privatised entities to the desired level in order to make them attractive for public listings.

    Okoh called for the establishment of an institutional framework to reach targets in both public and private sectors and to identify quick wins, medium term goals, long term achievements.

     The DG said that the Bureau was also undertaking a quick assessment of privatized enterprises, especially in the petro-chemical sector with a view to divesting the Federal Government shares through the capital market.

     Also speaking at the event, a former Director-General of the BPE, Mr. Benjamin Ezra Dikki, called on the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to set up a committee to induce the telecommunications companies in the country to go to the capital market.