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‎9000 cases of oil spills recorded in Nigeria annually

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…..As oil companies shuns oil spill conference
By Kunle KALEJAYE
LAGOS-NIGERIA’s oil rich region, The Niger Delta environment is said to be characterised by the prevalence of both old and new oil spills, about 10,000 incidents annually, the highest rate of spill globally.
Oil Spill

Oil Spill

These incidents according to environmentalist would lead to Nigeria losing nine ‎states that makes up the oil rich region including their arable lands and water resources in the future if drastic measures are not taken to stop the menace of spills in that region.

Environmentalist who converged at Oil Spill Conference Nigeria 2015  organised by Kaku Professional Engineers ‎in Lagos urged the Federal Government to declare a state of emergency in oil spill regions.
They also urged government to commence immediate clean up of spills stressing that it is a silent killer of Nigeria future‎.
Professor Sylvester Egwu, founder of Kaku Professional Engineers said most oil spills are traceable to aging pipelines which can no longer sustain current challenges due to weakness.
“Oil and Gas installations are critical infrastructures of high priority and value. Damage to a pipeline could cause huge loss of revenue, harm to the environment as oil leakage would become a potential danger to the local population,” Professor Egwu said.
He explained that it is not true that 70 percent of pipeline spills are caused by vandalism and sabotage noting that “these pipelines lack maintained integrity.
“Other causes ‎of spills include blowout, equipment failure, operational discharges, poor application of technology, and human error.
“No matter the cause, a spill is a spill and should be speedily contained, cleaned up and the site remediated for the safety and health of the people living with oil.”
‎An Environmentalist, Dr. Desmond Majekodunmi said it is not too late to recover lands that have been affected by oil adding that the spills contains Benzene which is 900 times higher the safe level.
“This is inexcusable! This type of wickedness must stop now and we, (environmentalist) are calling for a state of emergency on oil spills region and we are saying that the oil spills must be cleaned up now. How can we kill the gooes that lays the golden egg,” Dr. Majekodunmi said passionately.
Dr. Majekodunmi continue: “The body language of the president is very good body language. It is not only saying that we should start the process of the clean up now but his body language suggest that he will take no nonsense unlike in the past where there was little accountability and we want to see accountability in the process of remediation that is going on because it is no longer business as usual‎.
“Remember when this jobs are not done, children are dying. So for the president, I am sure people will hold him accountable for this and that is what we want to see, accountability.
This is because the regulations are there; the money to do it has been there but not nearly enough and now that the money is going to be put in there, we want to see accountability. Everybody is going to be held accountable and like they say, we are going to be shining our eyes.”
‎The Executive Director, Eco Restoration Foundation of Nigeria, Mr. David Omaghomi stressed that oil spill act should criminalised and government should shack up policies for oil spill.
“Oil spill should be criminalise, oil companies as well as communities found wanting in their waste management practise should be be given the ‘big stick’
“It is quit a shame that oil companies in Nigeria have repeatedly shun oil spills conferences like this and it goes along a way to talk about ‎their accountability as well as their responsible production practices.
“We believe that this current administration will have people account for their deed and that’s why we urge the federal government to declare an oil spill emergency in this country‎ because oil spill is a silent destroyer of Nigeria’s future.
The Niger Delta is one of the world’s largest wet-land eco-system (the third largest) it is a critical environment, it serves as a barrier reef to protect Nigeria shorelines, it provide biodiversity ‎services that help the poor like fishing farming and tourism.

Oil

FG Introduces New Incentives To Revitalize Nigeria’s Oil & Gas Industry

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In a strategic move to revitalize Nigeria’s oil and gas sector, the Federal Government has unveiled two key fiscal incentives aimed at attracting investment and enhancing energy security.

The announcement was made by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy on Wednesday.

The first initiative, the Value Added Tax (VAT) Modification Order 2024, introduces critical exemptions for essential energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.

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These exemptions are designed to reduce living costs for Nigerians, promote energy security, and accelerate the transition to cleaner energy alternatives.

The second initiative, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production, offers new tax relief options for deep offshore exploration projects.

This measure aims to position Nigeria’s deep offshore basin as a premier destination for international oil and gas investments, boosting the country’s appeal to foreign investors.

These reforms are part of a broader set of policy initiatives, known as Policy Directives 40-42, endorsed by President Bola Ahmed Tinubu.

The directives reflect the administration’s commitment to fostering sustainable development in the energy sector and enhancing Nigeria’s competitive edge in the global oil and gas market.

 

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Tinubu set to approve ExxonMobil-Seplat oil deal, expands CNG bus initiative

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By Yemie Adeoye

NIGERIA’s President Bola Tinubu has announced that the protracted ExxonMobil-Seplat upstream oil divestment will be formally approved by the Minister of petroleum within a matter of days, just as he announced his government’s intention to expand the Compress natural Gas, CNG buses initiative.

The President who stated this during his Independence day nationwide broadcast stated that the move is in line with his administration’s commitment to free enterprise, free entry and free exit in investments which is the hallmark of his administration investment policy.

“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”

The President also seized the opportunity to plead with Nigerians to be patient with his administration’s reform policies. “As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel”.

“Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.

Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace”. he enthused.

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ExxonMobil To Invest $10bn In Nigeria’s Deep-Water Oil Operations

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As part of the administration’s push to improve Ease of Doing Business (EoDB), Nigeria’s Vice President Kashim Shettima has expressed support for ExxonMobil’s plan to invest $10 billion in the country’s deep-water oil sector.

Speaking on Wednesday, September 25, 2024, during a meeting with ExxonMobil executives at the 79th United Nations General Assembly (UNGA) in New York, Shettima called the investment “a clear testament to the administration’s economic reforms and investor-friendly policies.”

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This announcement follows news that international maritime company DP World intends to develop a multibillion-dollar port project in Nigeria.

Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, shared the development in a statement on Wednesday. He quoted Shettima as saying: “ExxonMobil’s potential investment aligns with the vision of President Bola Ahmed Tinubu’s administration for a more investment-friendly Nigeria.

We are committed to fostering an environment that supports such transformative projects.”Shettima also discussed the administration’s broader efforts to improve the ease of doing business, highlighting the “Renewed Hope Agenda,” which aims to simplify bureaucratic processes, enhance transparency, and offer fiscal incentives to attract global investors.

“Our administration has taken bold steps to unify the exchange rate, remove fuel subsidies, and implement tax reforms. These measures, though challenging in the short term, are intended to create a stable and predictable business environment in the long term,” he added.

On the oil and gas sector, Shettima mentioned that the government is revising the fiscal framework for deep-water operations to attract investment while ensuring fair returns for the Nigerian people.

 

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