Ogun State is on the brink of becoming an oil-producing region, with the Nigerian National Petroleum Corporation Limited (NNPCL) set to initiate oil and gas exploration.

On Friday, prominent figures in the oil industry, including the Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri, Managing Director of SHELL Petroleum Development Company Ltd Mr. Osagie Okubor, Chief Executive of the Nigeria Upstream Petroleum Regulatory Commission Engr. Gbenga Komolafe, and Group Chief Executive Officer of NNPC Ltd Mr. Mele Kyari, visited Ogun State to outline the Federal Government’s exploration plans.

Governor Dapo Abiodun and his Deputy, Engr. Noimot Salako-Oyedele, welcomed the delegation.

Speaking at the governor’s office in Oke-Mosan, Abeokuta, Lokpobiri highlighted that Ogun State is part of the Dahomey Basin, which is thought to contain substantial hydrocarbon deposits.

The Minister said: “We decided that we are going to resume exploration in the different Basins; we decided to come to Ogun State to reassure the people that we have very high potential of discoveries here.

“Ogun has always been part of the Dahomey Basin and our presence underscore the seriousness the federal government attaches to the exploration activities that we want to carry out in Ogun State.”

Lokpobiri emphasized that oil and gas are the quickest routes to Nigeria’s economic prosperity and stated that his team’s visit to Ogun State is part of an ongoing campaign for exploration activities.

He added that the visit aims to demonstrate the federal government’s commitment to increasing its revenue through the oil and gas sector.

He added “Today we are here to tell the people of the federal government’s commitment to ensuring that we continue our campaign and exploration activities across the country. We are doing this exploration activities in several places across Nigeria and today we are in Ogun after which we will proceed to Sokoto State.’

Mr. Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), noted that Ogun State is fortunate to be located in the Dahomey Basin, which is expected to have significant oil deposits.

He assured that the corporation will soon return to begin exploration activities in earnest and expressed optimism that oil will be discovered in commercial quantities.

Peter Obi, the 2023 Labour Party (LP) presidential candidate, attended the memorial mass of the late Asagba of Asaba, His Royal Majesty (HRM), Prof. Joseph Chike Edozien on Friday.

The event, held in Asaba, Delta State, also saw the presence of President Bola Ahmed Tinubu, Delta State Governor Sheriff Oborevwori, and other notable dignitaries.

Obi announced his attendance on Saturday via his X account (formerly Twitter), sharing photos from the event.

He wrote “Yesterday, Friday 31st May, I joined the good people of Asaba and other Nigerians in celebrating the life of the revered traditional ruler, the Asagba of Asaba, HRM Joseph Chike Edozien.”

Other notable attendees included former Delta State Governors, Sen. Ifeanyi Okowa and James Ibori.

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Ajayi Kadri, the Director-General of the Manufacturing Association of Nigeria, has confirmed that the organised private sector has agreed to the Federal Government’s proposal for a new minimum wage of N60,000.

He revealed this information during an interview with Channels TV in Abuja on Saturday.

Kadri emphasized that the ongoing negotiations between the government, private sector, and labour are focused on establishing a minimum wage, rather than a living wage, which represents the lowest amount payable to any worker in the country.

Additionally, he highlighted the significant economic challenges faced by both labour and private businesses, making it difficult for them to meet the wage demands put forward by labour unions.

He stated, “To start with, this is a very difficult time for anyone to negotiate minimum wage. From the perspective of government, labour and organized private sector, we operate in an environment where there is general acceptance of the fact that the macroeconomics are not right, even the global economy is experiencing a lot of shakeups and the aftermath of government necessary reforms.

“From the beginning of the negotiations of the minimum wage, it’s evident to the tripartite— that is the government, labour, and organized private sector— that we are going to operate in a difficult terrain.

“Incidentally, the organized private sector and government have offered N60,000 as the minimum wage and I think it is very important for us to understand that what we are talking about is the minimum wage.

“That is what some people have called the walk-in wage. That is the amount we will pay the least workers in the country. It is the minimum wage we are negotiating, not a living wage,”

Ajayi elaborated that both the government and private sector are significantly constrained in meeting the proposed N419,000 living wage demand.

He noted economic challenges and inflation as primary hurdles for the private sector, making it impractical to fulfill such a requirement.

Ajayi also suggested that the present time might not be opportune for organized labor to pursue a new minimum wage negotiation. Instead, he advocated for collaborative efforts with other stakeholders to enhance the economy.

“All of us in the tripartite— the government, the labour, and the private sector — we all knew that we were operating in a very difficult environment.

“The government itself realized that it had limited capacity to pay. The private sector is constrained by microeconomic, infrastructure and security challenges. So, we are also constrained to pay.

“Labour on its part, is under intense pressure from its constituencies to ask for a higher wage because inflation has hit the roof and the operating environment is tough.

“Throughout the negotiation process, we made it known that this is not the best time to negotiate minimum wage. This is the time for us to agree, the crew behind the government, and grow the economy in such that we will bake a bigger cake and then we’ll be able to share,” he added

He, however, made an appeal to the organized labor to reconsider its decision to initiate a nationwide strike.

He emphasized that labor walking out of discussions and declaring a strike would not be beneficial.

Additionally, he expressed regret that labor rejected the N60,000 offer from both the government and the organized private sector, opting instead to declare a nationwide strike.