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Buhari rescinds decision on Seplat Energy takeover of Exxon Mobile shares

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Buhari rescinds decision on Seplat Energy takeover of Exxon Mobile shares

President Muhammadu Buhari has reversed his earlier decision authorising  Seplat Energy Limited to take over the  shares in oil block in Nigeria previously owned by  Exxon Mobil  of United States of America.

The reversal of the President’s decision was confirmed yesterday by the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu.

According to Shehu , the President Buhari had decided to back the Petroleum regulator, the Nigerian Upstream Petroleum Regulatory Commission ,NUPRC, which had on Tuesday insisted on its refusal to assent to the ExxonMobil/Seplat Energy share acquisition worth $1.3 billion.

He also said the earlier confusion in the President’s decision was as a result  of the various agencies involved in the decision had not coordinated well among themselves. He added that  President Buhari now wanted NUPRC position to be supported.

Mallam Garba Shehu said : ,“It has become clear that the various agencies involved in decision had not coordinated well among themselves and having looked at all of the facts with all of the ramifications, the president decided the position of the regulator is to be supported.”

Recall President Muhammadu Buhari had on Monday afternoon approved the acquisition of the entire share capital of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited.

This was revealed in an official tweet by the Presidency  titled ‘President Buhari consents to the acquisition of Exxon Mobil shares by Seplat Energy Offshore Ltd.’

The Presidency had said in the tweet that  Buhari authorized the acquisition in his capacity as Minister of Petroleum and it is aimed at attracting foreign direct investment to the country. The tweet also said that the President  also directed that Exxon Mobil and Seplat mitigate all environmental and abandonment liabilities.

The tweet read :  “In his capacity as Minister of Petroleum Resources, and in consonance with the country’s drive for Foreign Direct Investment in the energy sector, President @MBuhari has consented to the acquisition of the entire share capital of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited.

READ ALSO: Buhari Presidency Swings Again on Seplat Energy, Mobil Producing Oil Deal

“Exxon Mobil had entered into a landmark Sale & Purchase Agreement with Seplat Energy to acquire the entire share capital of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation, Mobil Development Nigeria Inc, & Mobil Exploration Nigeria Inc, registered in Delaware, USA.”

“Considering the extensive benefits of the transaction to the Nigerian Energy sector and the larger economy, President @MBuhari has given Ministerial Consent to the deal.”

“The President, in commitment to investment drive in light of the Petroleum Industry Act, granted consent to the Share Sales Agreement, as requested by the parties to the transaction, and directed that the approval be conveyed to all the parties involved.”

“Consequently, Exxon Mobil/Seplat are expected to carry out operatorship of all the oil mining licenses in the related shallow water assets towards production optimization to support Nigeria’s OPEC quota in the short term as well as ensure accelerated development and monetisation of the gas resources in the assets for the Nigerian economy.”

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Kano Police Warn Residents Of Imminent Terror Attack Threats

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The Kano State Police Command has warned residents of a potential terror attack, targeting public gatherings in strategic locations across the state.

In a statement issued on Friday, the command’s Public Relations Officer, SP Abdullahi Haruna, disclosed that intelligence reports indicated suspected terrorists were planning to carry out attacks.

“The Kano State Police Command, in liaison with other security agencies, has received intelligence reports of suspected terrorists planning to launch attacks on public gatherings in strategic locations within Kano State.

READ MORE: Savannah Energy Provides Unaudited FY 2024 Trading Updates 

“In response, we hereby urge residents to exercise caution and avoid crowded places and environments until further notice as a preventive measure to enable security operatives to identify and dislodge possible attackers,” the statement read.

To address the threat, the police command has enhanced security arrangements across the state. SP Haruna revealed that specialized units, including the Explosive Ordinance Disposal (EOD) and the Chemical, Biological, Radiological, and Nuclear (CBRN) teams, have been deployed to strategic locations and are on high alert.

“A team of experts from the command’s Explosive Ordinance Disposal, Chemical, Biological, Radiological, and Nuclear units have been deployed to strategic locations and are on high alert.

“The unit can be contacted through: 08169884988 or 07067157218 for report of suspicious persons or item(s),” Haruna stated.

Residents have been urged to remain vigilant and report any suspicious activities to the nearest police station or contact the command through the designated hotlines.

“The command remains committed to protecting lives and properties as well as maintaining law and order in Kano State.

“We appreciate the support and cooperation of the good people of Kano State and urge everyone to remain vigilant. Your vigilance and cooperation are crucial in ensuring public safety,” the statement concluded.

 

 

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Ifon-Ilobu-Erin Osun Land Disputes: Osun Constitutes A 100-Member Boundary Resolution Committee

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Four gang-killed two in Osun, destroy N8M properties

 

In the bid to resolve the incessant land disputes between the communities of Ifon, Ilobu and Erin Osun, the Governor of Osun State, Senator Ademola Adeleke has constituted an enlarged 100-member high powered land crisis resolution committee in which each of the affected communities has 25 representatives, and the state government represented by 25 members.

The Osun State Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi made the disclosure in a statement in Osogbo, on Friday.

He revealed that the Ataoja of Osogbo land, Oba Jimoh Adetunji Olanipekun Larooye is the Chairman of the Committee, while a retired judge of Osun State Judiciary and Chairman, Osun State Boundary Commission, Justice Moshood Adekunle Adeigbe, would serve as the Co-Chairman.

According to Alimi, Gov Adeleke put in place the Committee with a view to bringing a lasting end to the incessant land disputes among the three affected communities.

ALSO READ: Leadership Newspaper Backs Adeleke For Second Tenure, Names Him ‘Gov Of The Year’

It was gleaned from the statement that there were four other traditional rulers on the panel, including His Royal Majesty; Oba Abioye Oyebode, the Olokuku of Okuku, His Royal Majesty; Oba Adams Iyiola Bamidele Yusuf, the Oloba of Oba Oke, His Royal Majesty; Oba Adekeye Oyedare, the Oloyan of Oyan and His Royal Majesty, Oba Akeem Ogungbamgbe,The Owaloko of Iloko-Ijesha.

Other members are Umar Abba Mohammed, Osun State Commissioner of Police, Ayoola Kehinde, Osun State Director, Department of State Services( DSS) Brigadier General, Aliu Mohammed, Commander E.C.C, Ede, Sotiyobo Igbalawola, Osun State Commander, Nigeria Security and Civil Defence Corps( NSCDC), Anthony Chikezie, Commander, Immigration Service, Osun State, Adekunle Omoyele, Osun State Commander, Amotekun Corps, and Special Adviser to Osun State Governor on Security, Barrister Dare Ojo.

Also on the enlarged Committee, where members are enjoined by Gov Adeleke to bring in their wealth of experience to bear on the highly critical assignment, are the Chairman, NBA Osogbo branch, Yemi Abiona, Esq; the Chairman, NBA, Ikirun, Niyi Akinsola, Esq; the Chairman, NBA, Ile Ife, Tope Olajoko, Esq; the Chairman, NBA, Ilesha, Raymond Oki, Esq; Others appointed to serve on the Ifon- Ilobu- Erin Osun Peace Resolution Committee are; Soladoye Abioye, the Surveyor General of Osun State – Dr Sodiq Olohunde, Office of Chief of Staff to the Governor, Marufat Adekemi Bello, Permanent Secretary , Ministry of Justice – Femi Ogundun,- Permanent Secretary, Ministry of Local Govt and Chiertincy Affairs, Dr Fritz Mobolaji Olaoye, Permanent Secretary, Ministry of Lands and Physical Planning.

Completing the list of the Committee members are Comrade Wasiu Ajadosu, Osun NUJ Council Chairman, Comrade Waheed Lawal, Osun Civil Society Coalition and Comrade Saka Mao, a Public Affairs Analyst

The statement has it that Gov Adeleke, will on Tuesday, the 28th of January, 2025 perform the swearing in ceremony of the 100-member enlarged Ifon, Ilobu, Erin Osun Land Crisis Resolution Committee, at the Multi purpose hall of Local Government Service Commission, State Government Secretariat, Abere Osogbo by 11:00am.

 

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Okpebholo Moves To End Indiscriminate Parking, Gridlock In Edo State

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Edo State Governor, Senator Monday Okpebholo, has charged the Managing Director of the Edo State Traffic Control Management Agency (EDSTMA), Engr. Stainless Ijeghede on indiscriminate parking and traffic gridlock, especially in market areas.

According to a statement in Benin City on Friday, by Chief Press Secretary to Edo State Governor, Fred Itua, his principal gave the charge while decorating Ijeghede with his new rank as the head of EDSTMA.

He noted that while addressing the new Managing Director and his personnel at the Exco Chambers in Government House, Gov Okpebholo pointed out that the agency should do its job well by ensuring free flow of traffic across the state.

He called on Ijeghede and men of the agency to ensure they checked indiscriminate parking of vehicles and buses, especially in market areas.

“Edo State belongs to all of us and whatever we are doing, we should do it with care not to harm anybody. I appeal to EDSTMA to ensure that the city is well kept because whenever I drive round town, I see vehicles everywhere as the city is not well kept.

“This is your primary assignment. You should ensure the city is well kept as vehicles park indiscriminately and they are causing obstruction. Traffic is not flowing as it should and it is causing serious gridlock. Is it that you are not doing your job well?

ALSO READ: Leadership Newspaper Backs Adeleke For Second Tenure, Names Him ‘Gov Of The Year’

“Is it that you are not doing your job well or because you have a new leader that is why traffic is not flowing, or because you don’t know your job?

“You people should wake up and keep the state clean. Make sure that vehicles are parked well especially in the market areas. Monitor markets very well as these areas are looking really unkempt with vehicles and buses parked indiscriminately, causing traffic gridlock. Edo people are worst hit. They suffer from this. Ensure free flow of traffic so that the people will be happy,” Governor Okpebholo emphasized.

The EDSTMA boss, thanked Gov Okpebholo for the opportunity to serve the people of Edo State and assured him of the loyalty of the agency.

He added that his men will do their job professionally and ensure that the is free flow of traffic across the state.

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