NEWS
FG Should Plug Corruption Holes in Oil Sector – IATT
By Edozie Obasi-Eze
The umbrella body of anti-corruption agencies under the Presidency, Inter-Agency Task Team (IATT), has decried the annual loss of $4.2 billion worth of crude oil, as a totally unacceptable loss which must be stopped in the interest of the country.
The group would want to see the enforcement of stricter anti-corruption measures in all agencies of the government, particularly the oil sector, to enthrone transparency and accountability.
During a high-level seminar to mark the International Anti-Corruption Day 2021 in Abuja on Thursday, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI) and a member of IATT, Dr Orji Ogbonnaya Orji, said it was his agency’s special report that revealed the annual $4.2 billion crude oil that is either lost or stolen every year.
He maintained that these losses pose serious challenges to the government’s ability to deliver public goods and services to citizens.
His words, “Particularly, secret ownership or exploitation of mineral resources undermines national security and poses an existential threat to the country.
“Nigeria, through NEITI, recognised very early the damage done to the economy by these practices. In December 2019, Nigeria became the first country in Africa to establish a publicly accessible register of beneficial owners, and the first globally to establish a register in the extractive sector.
“This ground-breaking achievement was made possible by the efforts of different stakeholders including some anti-corruption agencies, in a process facilitated by Nigeria’s EITI.
“Within the last one year, we have carried out a self-assessment of the beneficial ownership register, under the oversight of the global EITI.
The EITI’s review of this assessment showed that Nigeria has made ‘meaningful progress’ in our implementation of the beneficial ownership register.
This is the second highest performance rating in the global EITI ranking, and was achieved after barely one year since we commenced implementation of beneficial ownership disclosure in Nigeria.”
NEWS
‘NYSC Has Outlived Its Usefulness, Should Be Scrapped’ — Shehu Muhammad
Rights activist and public affairs analyst, Shehu Mohammed, has called for the scrapping of the National Youth Service Corps (NYSC), saying the scheme has outlived its usefulness amid growing security concerns across the country.
Shehu made the call on Wednesday during an interview on Channels Television’s The Morning Brief, while reacting to the kidnapping of prospective corps members travelling to orientation camps in Akwa Ibom and Anambra states.
He described the incident as “one incident too many,” noting that kidnapping, maiming and the detention of victims in kidnappers’ camps had become frequent in several parts of the country.
SEE ALSO: 2027: North Should Back South-West To Complete 8 Years In Power — Shehu Sani
“I think it is just a case of one incident too many. There are more unreported cases of kidnapping and maiming and detention in kidnappers’ den, almost all over the country, especially in the northern part of the country: the Middle North West, North East, and North Central. It’s a daily, daily happening,” Sani said.
He said the security situation had made him question the continued relevance of the NYSC scheme, which was established to promote national unity.
“When Bukola was saying that she objects to the scrapping of NYSC, I tend to take a different view. My view is that the entire NYSC was meant to unite Nigeria, but if in uniting Nigeria you lose your daughter, you lose your son, you lose your uncle, you lose your sister, you lose your neighbour, then it’s not worth the trouble,” he said.
Shehu argued that corps members should instead be allowed to serve in their respective states, eliminating the need for young Nigerians to travel long distances to orientation camps.
“This NYSC issue should be scrapped, removed from the constitution, allow each and every corps member to serve in his own state, traveling with all the dangers, with all the costs,” he said.
He also highlighted the financial burden placed on families when corps members are posted far from their home states.
“If a child is going from Katsina to Anambra State to report to the camp, minimum that you give him is three hundred thousand naira for transfer cost, three hundred. How many parents have three hundred thousand naira to give their wards?” Sani asked.
He said the financial burden was only one aspect of the problem, with corps members also facing security risks and possible trauma during interstate travel.
“Minus all the dangers, the consequences, the uncertainties, the traumas involved. If your child has to go through a trauma, through uncertainty, through pain, through kidnapping, through raping, eventually through killing, why do you have to go for NYSC?” he said.
“As far as I’m concerned, the NYSC project has outlived its usefulness. It should be scrapped.”
Shehu also warned that kidnapping in Nigeria was taking a new dimension, with criminal groups increasingly targeting vulnerable groups.
“Corps members are vulnerable groups. Travelers for commercial purposes all over the country are vulnerable groups. Therefore they are now going for soft targets,” he said.
According to him, kidnappers also use abductions to blackmail victims’ families and government authorities into paying ransom.
“The next one is blackmailing either the parents or blackmailing government to collect money,” he said.
Sani alleged that ransom payments were subsequently used to finance criminal activities.
“So they can finance their arm purchase. They can finance their purchase of hard drugs to enable them operate without pity and compassion, and to send permanent fear into the community,” he said.
He added that the kidnappers were using their activities to create fear within communities, despite being relatively few in number.
NEWS
NCDMB, Zeconia Global Train 50 on Digital Oilfield Operations
The Nigerian Content Development and Monitoring Board (NCDMB), in collaboration with Zeconia Global Investment CO. Ltd, has successfully completed the Training on Digital Oilfield Operation & Data Analytics for 50 participants in Lagos State.
The 5-day intensive capacity-building program, which was held from September 28 to October 2, 2026 in Lagos, came to a successful close with participants equipped with cutting-edge digital skills for the oil and gas industry.
The training was designed to bridge the digital gap in the sector, exposing beneficiaries to practical knowledge on digital oilfield architecture, production optimization, real-time data monitoring, IoT applications, predictive analytics, and data-driven decision making in upstream operations.
READ ALSO: 40 Oil Blocks up for Grabs as NUPRC Opens 2026 Bid Round
At the closing ceremony, the Managing Director of Zeconia Global Investment Co. Ltd, Olawore Oladipupo, conducted the official handover to participants, applauding their commitment, active participation and eagerness to learn throughout the duration of the training.
He charged them to leverage the knowledge gained to add value to the industry and position themselves for emerging opportunities in the digital energy space.
Participants expressed profound appreciation to NCDMB and Zeconia Global for the life-changing opportunity, describing the training as impactful, practical and timely for the evolving global oil and gas landscape.
The programme once again demonstrates NCDMB’s unwavering commitment to human capital development, local content growth and strategic partnerships aimed at empowering Nigerians with relevant skills for the future of work.
NEWS
40 Oil Blocks up for Grabs as NUPRC Opens 2026 Bid Round
As the Nigerian government intensifies efforts to lure fresh investment into the upstream sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has unveiled 40 oil blocks for the 2026 licensing round.
The blocks, located across land, shallow water and deepwater terrains, will be open to investors with the technical competence, financial capacity and commitment to develop Nigeria’s petroleum resources.
The NUPRC Chief Executive, Oritsemeyiwa Eyesan, announced the licensing round during her closing remarks at the commission’s fifth anniversary celebration in Abuja on Tuesday.
READ ALSO: Middle East Push, G7’s Strategic Reserve Release Arrest Oil Prices
She disclosed that the exercise has the blessings of both President Bola Tinubu and the Minister of Petroleum Resources.
“Ladies and gentlemen, the wait is over. It is with great joy that I announce that pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Resources, the Nigerian 2026 Licensing Round is hereby announced,” Eyesan said.
She said the round would offer 40 blocks across land, shallow water and deepwater terrains to investors with the requisite technical and financial capacity.
Eyesan said the 2026 bid round would introduce enhanced transparency measures, including mandatory disclosure of the beneficial owners of every bidder.
She added that the commission would provide greater disclosure of the evaluation methodology and results, stressing that transparency and predictability were essential to attracting upstream investment.
According to her, competition for upstream capital had become increasingly intense as investors now had multiple jurisdictions from which to choose.
“We will not rest on our oars. Competition for upstream capital is fierce, and it grows fiercer by the day. Investors have choices. They go where the rules are clear, where the process is predictable and where data can be trusted,” she said.





