Oil
Petroleum minister’s probe Malicious – Oshomah
ABUJA – Liborous Oshomah, a Nigerian Lawyer described the call for the probe of Diezani Alison Madueke, the Minister of petroleum Resources over the waste of resource on the arbitrary charter and maintenance of a challenger 850 Aircraft for non official use as malicious.
He further said that the probe was aimed at undermining the second term ambition of the President of the Federal republic of Nigeria, President Goodluck Jonathan.
A member of the Nigerian House of Representatives, Babatunde Adejare, had raised a motion seeking the probe of the minister.
Mr Oshomah said that the way the motion was presented at the floor of the House showed that there was a motive behind the call for the probe.
He explained that, giving the nature of the Oil and Gas industry, which is not confined in an environment, the minister could make use of a charter plane to be able to meet the demands of the industry.
“Most politicians fly charted jet. The local wing of the Abuja airport has been reserved for private jets; about 45 of them. If you want to discuss the issue of private jet, the House should also focus on every individual using private jet in Nigeria and not just a ministry or agency.
“The way the issue is going, gradually, it will go the same way as other motions,” he said, referring to motions centred on corruption that have been raised in the House of Representatives before now.
Lawmaker says the Minister of Petroleum Resources, Diezani Allison-Madueke, is spending ministry’s resources on a jet used for private affairs.
The management of the Nigerian National Petroleum Corporation (NNPC) had reacted to the purported charter of aircraft by the corporation for the personal use of the Minister, saying it did not chartered any aircraft for the exclusive use of the Minister of Petroleum Resources or any particular official of the Corporation.
The NNPC also noted that in consonance with the legal instrument which establishes the Corporation as a commercial entity to engage in the oil and gas sector, the NNPC in course of discharging its statutory and commercial functions engages third parties for the provision of services outside of its core business.
But the lawyer stressed that the NNPC comments showed there could be more questions for the corporation to answer, insisting that both the House of representatives and the NNPC should go beyond window dressing.
“NNPC is like ATM for government and that is why the government will not allow NNPC to run like other organisations,” Mr Oshomah said.
Suggesting what should be done to check the excesses of the corporation, he suggested that the government should make appropriate budget for the NNPC’s expenses to ensure that their expenses are checked.
He also suggested that the government should consider having a national carrier, pointing out that “if that was in place there would be no need for ministers to go chartering jets to take them to where they want to go to”.
He insisted that the minister was being witch-hunted and that the lawmakers should focus on the practice in the industries and not the minister.
“The allegations were just towards 2015 and anything that one can do to win the people’s support,” the lawyer stated.
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.
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.
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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