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Nigeria Might Start Importing Crude – Engr. Wabote

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The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has observed that Nigeria might resort to importing crude oil for its upcoming and existing refineries if concerted efforts were not made to improve on the current low production numbers.

His observation was contained in his goodwill message at the 41st Annual Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) on Monday in Lagos.

Engr. Wabote bemoaned Nigeria’s low production of crude oil and gas despite the abundant reserves and challenged members of the NAPE and other industry stakeholders to initiate efforts to reverse the situation.

He maintained that the Nigeria’s 37 billion barrels of oil reserves needed close attention bearing in mind the various efforts at revamping the refineries and commissioning of greenfield refineries.

According to him, “it will be a sad outcome if we stop the importation of refined petroleum products only to replace it with the importation of crude oil for use in our local refineries.”

He praised the important role of petroleum explorationists in the energy mix, especially in discovering, evaluating, and establishing the reliability and sustainability of the size of oil and gas reserves.

Dwelling on gas, the ES hinted that Nigeria had about 208 trillion cubic feet (TCF) of proven gas reserves and about 600TCF unproven reserves.

He subsequently charged petroleum explorationists to apply their skills and technology toward confirming the recoverable volumes from these unproven reserves and developing the proven reserves.

Engr. Wabote hinted that the focus on gas was important because gas was no longer Nigeria’s transition fuel but the destination fuel.

He assured that NCDMB is committed to providing all the necessary support to realize the gas business agenda of President Bola Tinubu.

On the conference’s theme, “Repositioning the oil and gas industry for future energy dynamics,” the NCDMB boss noted that the world stands at a key point where adequate consideration must be made to address the Energy Trilemma, which is, achieving an appropriate balance between energy security, sustainability, and affordability.

He added that the oil and gas industry had been a key pillar of global energy as it has powered and continues to power industrial and economic developments across the world.

Engr. Wabote pointed out that repositioning the Nigerian oil and gas industry for national development required collaboration and partnerships with key players and agencies across the upstream, midstream and downstream sectors and its entire value chain.

The Nigerian Oil and Gas Content Development Act (2010), he noted, provided the compass to enable the development and growth of local capacities and capabilities in the Nigerian oil and gas industry.

Engr. Waboted commended the Federal Government’s determination to sustain the gains realized in the oil and gas industry and the eagerness to consolidate them rather than reverse the gains of Nigerian Content.

He conveyed the Board’s readiness to support various oil and gas initiatives that would ensure patronage of local investments, boost investors’ confidence, and create jobs to sustain the relative peace in the oil and gas sector.

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JUST IN: Tension Mounts As Police Secure Rivers Assembly Amid Crisis

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The standoff between Governor Siminalayi Fubara of Rivers State and Minister of the Federal Capital Territory (FCT), Nyesom Wike, intensified on Friday as police presence swelled at the House of Assembly quarters along Aba Road, Port Harcourt.

With approximately 30 officers securing both the primary and secondary entrances and an additional 25 patrol vans blocking other access points, the situation grew increasingly tense.

This development followed accusations by House Speaker Martins Amaewhule, who alleged Governor Fubara’s involvement in plans to demolish the legislative quarters.

Governor Siminalayi Fubara  had made a surprise visit to the facility on Thursday afternoon, stating that he wanted to assess the premises following the appointment of a new Speaker.

He said, “Is the Assembly quarters not part of my property? Is there anything wrong in going to check how things are going on there?

“You are aware of the developments. We have a new Speaker, and I went there to see for myself how things are. There might be a few things I might want to do there for the good of our people.”

According to reports, after Amaewhule’s alarm, anti-Fubara lawmakers and certain All Progressives Congress (APC) chieftains maintained a vigil around the estate until Friday.

Earlier, a Rivers court had restrained the Pro-Wike lawmakers from identifying themselves as legislators, declaring their seats vacant. Meanwhile, the ‘Sim Media Volunteers’ group, during a news briefing in Port Harcourt on Friday, urged the Inspector-General of Police to oversee police activities in the state and ensure adherence to rules of engagement.

Frank Kilsi, the Convener, expressed concern over the arrest and intimidation of the governor’s supporters by the police, warning that such actions could lead to anarchy.

Kilsi stated, “We call on the Inspector-General of Police to rein in his men and exercise restraint by stopping the unnecessary attack or wanton arrest on any of the governor’s supporters, as further harassment could lead to anarchy and breakdown of law and order that may not do our state any good.

“We, the youths of the state, under the aegis of SIM Media Volunteers do hereby emphasize the need for peace, justice and development in Rivers State.

“We implore all relevant stakeholders such as the citizens, political leaders, traditional institutions and law enforcement agencies, to ensure that the rights and freedom of the people are upheld and protected at all times.

“To this end, we would like to acknowledge and applaud the great youths of Rivers State for being peaceful and law-abiding even in the face of provocation”.

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Tinubu Confers GCON On Awujale

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In a momentous ceremony marking the 90th birthday of Oba Sikiru Adetona, the esteemed Awujale and paramount ruler of Ijebuland, President Bola Tinubu bestowed upon him the prestigious Grand Commander of Order of Nigeria (GCON).

Held at the Oba Sikiru Adetona School of Governance, Olabisi Onabanjo University, Ago-Iwoye, Ogun State on Friday, the event witnessed Vice President Kashim Shettima representing President Tinubu.

Additionally, the President directed the transfer of management of the revered school to the National Institute of Policy and Strategic Studies, Kuru, Jos, in honor of Oba Sikiru Adetona’s enduring legacy.

President Tinubu hailed Awujale as an exceptional royal figure and a stalwart of Nigerian democracy, revered nationwide for his unwavering commitment to national progress and resilience in confronting challenges.

 

 

Details later……. . 

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JUST IN: Yahaya Bello To Present Himself For Arraignment

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Former Kogi State Governor, Alhaji Yahaya Bello, has agreed to appear before the Federal High Court in Abuja for his arraignment on corruption charges filed against him by the Economic and Financial Crimes Commission (EFCC).

Bello’s lead counsel, Abdulwahab Mohammed, assured Justice Emeka Nwite of his client’s willingness to face the court on June 13, following the rejection of a request to suspend the trial.

Mohammed emphasized that Bello is not apprehensive about the arraignment itself but rather concerned for his safety in the custody of the EFCC in Abuja.

He cited consistent threats to Bello’s life in the capital city as the reason for his client’s decision to prioritize personal safety by going underground.

The decision to comply with the court trial was influenced by Justice Nwite’s remarks, affirming the EFCC’s commitment to legal protocols.

The Judge assured that the EFCC operates within legal boundaries, noting Bello’s situation isn’t unprecedented.

Emphasizing the presumption of innocence, Justice Nwite highlighted the unproven nature of the allegations.

He advised Bello’s lawyer to urge his client to respect the court’s authority.

In response, Bello’s counsel thanked the Judge and pledged Bello’s cooperation, relying on the EFCC’s assurance of adherence to due process.

He said “All my client needs is just an assurance for the safety of his life which has been under threat for sometimes in Abuja.”

The lawyer requested a four-week grace period to present his client before the court, stating that Bello would appear in court rather than at the EFCC to enter his plea on the charges.

With no objection from the EFCC counsel, Rotimi Oyedepo SAN, Justice Nwite scheduled June 13 for Bello’s appearance in court to have his plea recorded.

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