NEWS
BREAKING: NCDMB’s 2023 PNC Forum Pulls Industry Heavyweights Together
It’s poised to be a gathering of ‘who is who’ in Nigeria’s oil and industry as those who matter converge in Yenagoa for the 12th edition of the Nigerian Content Development and Monitoring Board’s (NCDMB), annual Practical Nigerian Content (PNC) Forum 2023.
A statement posted in the early hours of Monday on the X handle of the NCDMB has it that the 2023 event would be headlined by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and his Gas counterpart, H.E. Hon. Ekperikpo Ekpo.
They would be joined by other oil and gas industry eggheads and policy makers as the event kicks off on December 4, at the Swali, Yenagoa headquarters of the NCDMB.
According to the statement, “The Ministers are expected to deliver ministerial addresses and to show the direction of the Federal Government’s thinking concerning Nigerian Content and investment strategies.”
This year’s edition has DMG Events and Bayelsa State Government partnering with the NCDMB, and is slated to open with an invitational golf tourney and welcome dinner – the first of the three gala nights that would be sponsored by Coleman Wires and Cables, the Bayelsa State Government and the Nigeria LNG Ltd.
The event would draw to a close on Thursday, December 7, 2023 with a visit by delegates to the facility of MG VOWGAS in Port Harcourt, River State.
It stated, “Some of the presentations that will be received at the PNC include the opening keynote address by the host of the event and Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote, while the Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, and Chief Executive, Nigerian Midstream and Downstream Petroleum Authority (NMDPA), Engr. Farouk Ahmed, alongside other key industry figures would feature prominently in the 4-day event.
“Also, the Group Chief Executive Officer, Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kolo Kyari is also expected to grace the PNC as he had always done in previous years.”
Biztellers reports that major international oil companies (IOCs), members of the Independent Petroleum Producers Group (IPPG), and service companies, are expected to participate in the four-day conference.
Their respective chief executive officers are already scheduled to take active part in different capacities, including as moderators of panel discussions or panellists or delivering papers on critical subjects relating to local content practice in the oil and gas industry.
For the 2023 edition, key subjects for the panel sessions centre around “Providing an Enabling Environment for Investment in the Energy Sector,” “Opportunities in Decarbonisation and Domestic Gas Utilization,” “Deepening Nigerian Content in the Manufacturing Sector,” and “Financing a Thriving Midstream Sector for Socioeconomic Development,” and Sustainable Framework for Human Capacity Development.” Presentations on R&D Success Stories are also expected.
In addition to the expansive exhibition, the PNC Forum affords prospective investors and clients as well as fund managers an interactive platform with key Federal Government officials overseeing the oil and gas sector, key industry operators and service providers, and chief executives of the regulatory agencies. Among the industry players, a major activity is evaluation of their performances in local content practice, and consideration of appropriate adjustments aimed at better results.
To be showcased are opportunities for collaboration and partnership between the public sector and private business interests and between the private sector and academia; also, emerging opportunities from divestments by IOCs and the decarbonisation drive in the industry.
NEWS
Mambilla: ICC Orders Sunrise Power to Pay Nigeria $11.8m After 9-Year Battle
An International Arbitration Tribunal under the auspices of the International Chamber of Commerce (ICC) in Paris has ruled in favour of Nigeria, rejecting claims brought by Sunrise Power and Transmission Company Limited over the long-delayed Mambilla Hydroelectric Power Project in Taraba State.
The tribunal, in its award issued on Thursday, September 17, 2026, also ordered Sunrise Power and its promoter, Leno Adesanya, to reimburse Nigeria 75 per cent of the legal fees and expenses incurred in the arbitration, amounting to $11.8 million.
The ruling came nearly nine years after Sunrise commenced arbitration proceedings against Nigeria in October 2017.
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According to details of the award, Nigeria’s legal fees and expenses were assessed at $11,819,506.51. Of the amount, $2.5 million is to be released from funds held in escrow by the ICC, while Sunrise Power and Adesanya are required to pay the remaining $9,319,506.51, with interest accruing at an annual rate of 10 per cent, compounded annually, until the outstanding amount is fully paid.
The tribunal also fixed the arbitration costs at $1,656,500, with Sunrise Power and Adesanya responsible for 75 per cent and Nigeria responsible for the remaining 25 per cent.
The dispute is connected to the development of the Mambilla Hydroelectric Power Project, which the Federal Government has identified as a major power project in Taraba State.
The company had made a claim against the Federal Republic of Nigeria, demanding $680 million as a settlement sum and interest in respect of another arbitration in which it was claiming more than $2.7 billion in compensation and interest relating to disputes associated with the development of the project.
In a separate aspect of the dispute, Sunrise Power had sought an order compelling Nigeria to pay $400 million, comprising a $200 million settlement sum and a further $200 million default sum.
The tribunal rejected the claim and dismissed Sunrise Power’s assertion that Nigeria had breached its contractual obligations under the settlement agreement and its addendum.
The panel also declared that Leno Adesanya, the promoter of Sunrise Power, was bound by the arbitration agreement with Nigeria under the settlement agreement and addendum. It further held that it had jurisdiction over Nigeria’s counterclaim against Adesanya and his firm.
The arbitration dates back to a disputed 2003 agreement concerning the construction of a hydroelectric power plant in Taraba State.
President Bola Ahmed Tinubu said the original contract was for a 3,050-megawatt hydroelectric plant under a build-operate-transfer model, but maintained that the Federal Executive Council never authorised the contract.
The broader Mambilla project has subsequently been associated with a planned capacity of 3,960MW.
Reacting to the ICC award, President Tinubu said the decision affirmed Nigeria’s determination to resist what he described as “predatory and exploitative claims by corrupt local and international entities and their enablers and funders.”
Tinubu also commended the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and the entire team at the Federal Ministry of Justice for their efforts in defending Nigeria’s position.
He also praised Nigeria’s defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for what he described as their professional and excellent defence of the country.
The President further commended the patriotism and support of former President Olusegun Obasanjo and late former President Muhammadu Buhari, who testified in the case.
He noted that the dispute dated back to the controversial 2003 contract for the proposed hydroelectric plant in Taraba State.
Tinubu also thanked former ministers Babatunde Raji Fashola, SAN, and Suleiman Adamu, as well as the experts and other witnesses who participated in the proceedings and helped defend Nigeria’s interests.
The President acknowledged the support of the National Security Adviser and commended the Economic and Financial Crimes Commission (EFCC) for its investigation into the case.
Tinubu described the ICC decision as a major development for the Mambilla project, saying the ruling had cleared the “single biggest legal hurdle” that had paralysed the hydropower project for years.
The President assured that Nigeria remained committed to partnering with genuine investors and honouring its legal obligations.
However, he said the country would continue to defend what he described as opportunistic claims against the nation’s commonwealth.
The ICC ruling therefore brings a major chapter of the long-running legal dispute surrounding Sunrise Power and the Mambilla project to a close, while removing the immediate arbitration claim that had exposed Nigeria to billions of dollars in potential liability.
NEWS
Terror Threats: Osun Establishes Joint Security Task Force
In response to the recent security alerts, the Osun State Government has approved the establishment of a Joint Security Taskforce to strengthen security response and alert to threats to lives and properties in the state.
According to a government house statement on Thursday, to ensure smooth take off of the JTF, the state government declared its readiness to provide all necessary logistics that will strengthen the protection of lives and property of the people throughout Osun State .
The decision was adopted at the State Security Council (SSC) meeting convened yesterday by Governor Ademola Adeleke and presided over by the Deputy Governor, Prince Kola Adewusi with the new Commissioner of Police personally in attendance alongside other security top brass.
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The Deputy Governor while opening the meeting conveyed the best wishes of the state Governor to the service commanders and lauded their steadfastness during recent security challenges and tasked them not to relent in the face of fresh security threats.
Accompanied by the Attorney General of the state, Hon Wole Jimi-Bada; the Head of Service, Elder Ayanleye Aina; and the Governor’s Special Adviser on Security, Mr Samuel Ojo, the Deputy Governor told the commanders that the governor is committed to further empowering the security agencies to secure the state while calling on the traditional rulers to sustain their local security oversight.
The Council during its deliberations also used the opportunity of the meeting which lasted several hours to further allay the fears of the residents on their security and protection, noting that Osun state remains safe and secured.
The Council further tasks residents to be extra vigilant particularly in churches, mosques and schools, tasking stakeholders to put extra security measures around their premises.
While assuring the public of their safety, the Council further requested timely intelligence sharing to security agencies by members of the public to forestall attacks by suspected terrorists and bandits.
The Nigeria Police in conjunction with other security agencies were also directed to be on a 24 hour red alert to curtail the threats of the said bandits and terrorists.
At the meeting, an agreement was also reached between the Ministry of Justice, the Nigeria Police, and the DSS, to collaborate with a view to ensuring that all the suspects are properly investigated and prosecuted accordingly without delay.
The meeting ended with a commendation of the new Commissioner of Police, Mr Ibrahim Zungura for instituting policing reforms since his assumption of office and for attending the security meeting in person.
NEWS
Shettima Arrives Yola to Condole With Bamanga Tukur’s Family
Vice President Kashim Shettima has arrived in Yola, Adamawa State, to lead a Federal Government delegation on a condolence visit to the family of the late elder statesman, Alhaji Bamanga Muhammad Tukur.
Shettima’s visit is at the instance of President Bola Ahmed Tinubu, following the death of the former Governor of the old Gongola State and former National Chairman of the Peoples Democratic Party (PDP).
The Vice President was received in Yola by Adamawa State Governor, Ahmadu Umaru Fintiri, alongside members of the state executive council.
Tukur, who died on September 12, 2026, was a prominent businessman, politician and elder statesman whose career in public service and business spanned several decades.
SEE MORE: 2027: PDP Drops Fresh Revelation on Wike’s Support for Tinubu
He served as Governor of the defunct Gongola State and later became National Chairman of the PDP. He was also recognised for his contributions to Nigeria’s political development and Africa’s business community.
The presidential delegation accompanying Shettima includes the APC Deputy National Chairman (North), Hon. Ali Bukar Dalori; former Minister of Transportation, Senator Sa’idu Ahmed Alkali; Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hassan Hadejia; and Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Abdullahi Abubakar Gumel.
Others on the delegation are Hon. Abdulrazaq Sa’ad Namdas; Sarkin Gabas Adamawa, Dr Mahmood Halilu Ahmed (Modi); and APC National Vice Chairman (North-East), Comrade Mustapha Salihu, among others.
The condolence visit comes as political leaders, government officials and other Nigerians continue to mourn the death of the former governor and PDP national chairman.





