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NNPC Maps Out Gas-Driven Transformation For Nigeria’s Industries
Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Ltd., announced plans to leverage Nigeria’s extensive gas resources to transform the country’s power and industrial domains.
This revelation took place at the NNPC Towers in Abuja during the signing of a Shareholders Agreement (SHA) between NNPC Ltd., UTM Offshore (a local company), and the Delta State GovernmentGovernment on Tuesday.
The agreement focuses on establishing Nigeria’s inaugural Floating Liquefied Natural Gas (FLNG) facility.
Kyari said “In the next 2-3 years, we will use gas to bring about a revolution in our country. The outcomes will be clear on the table; there will be prosperity, and value will be created. Not just creating gas for export but progressing on all our initiatives of bringing gas into the domestic market.
“Our backbone infrastructures are almost ready to ensure we achieve that. Once that happens, we will see the immediate impact on the power sector, gas-based industries and several other collateral value that this will create.”
Kyari emphasized the urgency of the FLNG project, highlighting Nigeria’s substantial but underused gas resources.
He underscored the nation’s shift toward monetizing these resources for both national and global benefit.
Kyari further noted the alignment of the FLNG Project with the Federal Government’s Decade of Gas Initiative and the President’s objective to establish a gas hub, aiming for enhanced value and Nigeria’s rightful prosperity.
Expressing NNPC Ltd.’s dedication to the initiative, Kyari highlighted the unique position of the FLNG project, being the first of its kind where the company is actively involved with a vested equity interest.
He said “More than this, there are several Floating LNGs that we are promoting, including fixed LNG projects. We are happy to collaborate with the Delta State Government. We will take practical steps to get it done. We are committed to delivering this project in time, on schedule and in the best possible cost,”
Earlier, Mr. Julius Rone, the Group Managing Director of UTM Offshore Limited, hailed the execution of the SHA as a significant stride in realizing Nigeria’s inaugural indigenous FLNG project.
He expressed gratitude to President Bola Tinubu for his dedication to developing the nation’s gas resources, notably showcased during the COP28 Conference in Dubai.
At the conference, President Tinubu pledged to eliminate gas flaring entirely and utilize Nigeria’s gas as a transition fuel, aligning with global efforts for cleaner energy and reducing methane emissions in oil and gas operations.
Rone also praised the GCEO of NNPC Ltd for his leadership and commitment in ensuring the development of Nigeria’s gas resources in accordance with the provisions outlined in the Petroleum Industry Act (PIA) of 2021.
Governor Sheriff Oborevwori of Delta State highlighted the state’s significant stake in Nigeria’s gas reserves, amounting to 40%.
He explained that the decision to hold an 8% equity in the FLNG project stemmed from their firm belief in its pivotal role in the national economy.
In addition to generating over 300,000 metric tonnes of LPG (cooking gas) specifically for the domestic market, the Governor emphasized the project’s wider benefits.
He noted that the FLNG initiative would aid in curbing environmental risks in the Niger Delta by reducing gas flaring.
Moreover, it is expected to create numerous job opportunities and facilitate the transition from kerosene and firewood to cleaner energy sources. This shift, in turn, would enhance the health and overall well-being of the populace.
The Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, stressed that the FLNG initiative would play a pivotal role in monetizing Nigeria’s gas resources, thereby bolstering the economy and achieving energy security.
Additionally, Mr. Olalekan Ogunleye, the Executive Vice President, Gas, Power & New Energy, commended the Federal Government’s commitment to leveraging gas as a catalyst for rapid economic growth.
He highlighted this commitment through initiatives like the Decade of Gas aimed at fostering a robust gas economy.
As for the FLNG facility, it is anticipated to yield between 1.81 to 2.72 metric tonnes per annum (mtpa) of gas.
The project’s equity structure involves NNPC Ltd., UTM Offshore, and the Delta State Government, holding stakes of 20%, 72%, and 8% respectively.
On Friday, November 22, 2024, the late Senator Ifeanyi Ubah was laid to rest in his hometown of Nnewi, Anambra State.
The funeral, held at his residence in Umuanuka, Otolo Nnewi, was attended by a multitude of mourners, including political figures, business associates, and community members, all paying their final respects to the esteemed businessman and politician.
The burial proceedings commenced with a funeral mass at 10:00 a.m., followed by condolence visits and other funeral activities. The ceremonies are scheduled to continue through the weekend, culminating in a Thanksgiving Mass and Outing Service on Sunday, November 24, at St. Peter Claver Catholic Church in Otolo Nnewi.
READ MORE: JUST IN: Anambra Senator, Ubah, Dies In London
In light of security concerns, Anambra State Governor, Prof. Chukwuma Soludo, ordered the closure of schools in Nnewi for a week. This decision followed threats from separatist elements who vowed to attack those attending the burial. A circular from the state Ministry of Education directed school principals to inform parents and ensure students remained at home during this period.
The Anambra State Police Command addressed an incident that occurred on Wednesday night, clarifying that it was not related to the burial. According to the Command’s Public Relations Officer, SP Tochukwu Ikenga, the incident involved security operatives mistakenly engaging police personnel, leading to an exchange of gunfire. The situation has since been brought under control.
Senator Ifeanyi Ubah, who represented Anambra South Senatorial District, passed away in London in July 2024 at the age of 52. His death was met with an outpouring of grief from across the nation, with many acknowledging his significant contributions to the development of Anambra State and Nigeria.
As the community of Nnewi and the nation at large bid farewell to Senator Ubah, his legacy as a philanthropist, businessman, and public servant continues to resonate, leaving an indelible mark on those he served and inspired.
The Enugu State Government has commended the Republic of Finland for the arrest of Simon Ekpa, a Finland-based leader of the proscribed separatist group, Autopilots.
Ekpa has been accused of orchestrating violence and chaos in Nigeria’s South East region.
In a statement issued on Friday by the Secretary to the State Government, Prof. Chidiebere Onyia, the government described Ekpa as a “common criminal, con man, and terrorist” who has exploited the Igbo people while claiming to represent their interests.
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“The Enugu State Government welcomes the arrest of the Finland-based terrorist, Simon Ekpa,” the statement read.
“His arrest and trial will no doubt go a long way in strengthening peace, security, and stability in all parts of the South East.”
The state government accused Ekpa of sponsoring violent activities that have resulted in the loss of lives, destruction of property, and disruption of the region’s economic activities.
It stated that Ekpa’s actions were driven by personal greed and not genuine concern for the Igbo people.
Onyia said, “Ekpa is a murderer and fraudster who delights in killing his people and living large off their misery.
“He thrives on manipulating, exploiting, and extorting the people on the pretext of fighting for their interest and for the restoration of Biafra.”
The government emphasized its readiness to provide evidence of Ekpa’s alleged crimes to support his prosecution, whether in Finland or Nigeria.
“This arrest is in line with the demand of the Governor Peter Mbah Administration, which has repeatedly made it known that Ekpa is a megalomaniac, common criminal, murderer, and fraudster who takes joy in feeding fat on the manipulated emotions of Ndigbo and inflicting misery on the South East region,” the statement added.
The government further criticized Ekpa for fostering a climate of fear and insecurity that has harmed the entrepreneurial spirit and economic growth of the Igbo people.
“Ekpa has for long, and unfortunately from Finland, made a living by creating a siege climate and mentality in the South East, destroying lives, property, and the Igbo trademark of entrepreneurship and hard work,” Onyia said.
The Enugu State Government expressed optimism that Ekpa’s arrest would mark a turning point in the quest for peace and stability in the South East, urging residents to remain vigilant and supportive of ongoing efforts to restore normalcy in the region.
The COP29 presidency has unveiled an ambitious climate finance plan, calling on developed nations to provide $250 billion annually to developing countries by 2035.
The proposal, part of a broader initiative to mobilize $1.3 trillion from public and private sources each year, seeks to address the mounting challenges posed by climate change.
The five-page draft text, released on Friday, emphasizes the need for developed nations to lead the charge in financing climate action.
RELATED NEWS: COP29: Climate Summit Faces Deadlock Over Vague Funding Proposals For Vulnerable Nations
According to the document, this financial commitment is seen as a critical step toward combating the climate crisis and fostering sustainable development globally.
“In this context, it is decided to set a goal in extension of the goal referred to in paragraph 53 of decision 1/CP.21, with developed country Parties taking the lead, to USD 250 billion per year by 2035 for developing country Parties for climate action,” the draft states.
The announcement follows the release of an earlier 10-page draft on Thursday, which drew significant criticism from Global South delegations.
Many expressed frustration that the document lacked clear financial commitments from wealthier nations, falling short of expectations to support adaptation and mitigation efforts.
“There is a clear need to address the principle of common but differentiated responsibilities, especially given the diverse circumstances shaping national priorities,” a negotiator from a developing country delegation remarked.
The updated proposal aims to address some of these concerns by outlining more specific targets. However, skepticism remains among some negotiators, who feel the revisions still fail to adequately address their demands.
Meanwhile, developed countries have raised their own reservations about the proposed plan.
A European negotiator, speaking to Reuters, described the $250 billion annual target as unrealistic and criticized the lack of measures to expand the pool of contributing countries.
“No one is comfortable with the number because it’s high, and there’s almost nothing on broadening the contributor base,” the negotiator said.
The mixed reactions underscore the persistent divide between developed and developing nations in climate negotiations.
While the draft text aims to reconcile these differences, the gap between expectations and commitments remains a significant hurdle.
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