Other News
Increased Crude Oil production: NCDMB Advocates Annual FID Week
As part of the strategies to increase Nigeria’s crude oil production and enhance revenue accruing to the national treasury, the Nigerian Content Development and Monitoring Board (NCDMB) has advocated for a week in each year to be dedicated to signing final investment decisions (FIDs) on new oil and gas projects.
The Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe made the proposal on Tuesday in his presentation at the 2024 African Energy Week (AEW), at Cape Town, South Africa.
A final investment decision is the final point in an energy project, in which the company or partners owning and operating a project give the final approval for the development, releasing the funding for the commencement.
ALSO READ: AMCON Not In Dispute With Heyden Petroleum
Ogbe stated that the FID Week, if adopted, could be incorporated into the existing annual international oil and gas conferences and would feature international and indigenous operating companies.
He posited that dedicating a week every year for FID signing could compel companies and relevant regulators to fast-track their processes to meet the deadline.
He also indicated that the proposal for the annual FID Week has already been broached to Special Adviser on Energy to President, Mrs. Olu Verheijen and the leadership of the Nigerian National Petroleum Company Limited and international operating companies and was being considered.
Represented at the African Energy Week (AEW) by the Director, Projects Certification and Authorization Division (PCAD) Engr. Abayomi Bamidele, the NCDMB boss said the proposal for an annual FID Week was geared to address the insufficient FIDs signed by the operating companies and the limited number of new projects being developed in the Nigerian oil and gas industry. These worrisome developments contributed to Nigeria’s dwindling crude oil production and the negative impact on revenue, he said.
He suggested that the Nigerian oil and gas industry needed to have at least one or two final investment decisions on major projects to be signed every year, to catalyze activity in the local service sector and the national economy and ultimately increase crude oil and gas production and revenue for the country.
He made reference to the three Presidential Directives (PDs) rolled out by President Bola Ahmed Tinubu in March 2024, for the oil and gas industry, stating that NCDMB had complied fully with the directives as it relates to fast-tracking the contracting cycle and eliminating middlemen with no demonstrable capacity from participating in the oil and gas value chain.
The PDs included Presidential Directive on Local Content Compliance, Presidential Directive on Reduction of Petroleum Sector Contracting Cost and Timelines and Presidential Directive on Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc)
Ogbe announced that NCDMB had applied the Presidential Directives in approving five oil and gas projects which are currently in the funnel.
He hinted that the expected production values of those projects are 1 billion standard cubic feet of gas per day and 350 million barrels of crude oil per day.
Commenting on strategies that would ensure sustainable local content development in African nations, the Executive Secretary stated that local content has to be promoted as a national agenda and supported by all institutions, businesses, decision makers, investors and citizens.
Some other personnel of the NCDMB made presentations at the 2024 edition of the African Energy Week (AEW) on core operations and initiatives of the agency.
The officials included Director of Finance and Personnel Management, Mr. Ifeanyi Ukoha, the Manager, Institutional Strengthening, Engr. Obongo Dokubo and the Supervisor Upstream, Engr. Bashir Ahmed.
Renowned Nollywood actor, Ibrahim Chatta, has sparked conversation by claiming that award-winning singer Davido is richer and more influential than his billionaire father, Dr. Adedeji Adeleke.
Chatta made this statement while addressing the importance of respecting individuals in positions of authority, regardless of their age. He argued that accomplishments, not age, determine who an elder is. Using historical references, Chatta cited Alexander the Great, who achieved incredible feats before his death at 33, as an example of youthful greatness.
“God purposely placed some certain people in some positions, but you guys are looking at their age. It’s not about the age; any younger person that possesses things that belong to elders, is an elder,” Chatta said.
The actor emphasized that Davido’s wealth and influence surpass those of his father, despite Dr. Adeleke’s established status as a billionaire. Chatta highlighted the global recognition and adoration Davido commands, describing the singer as someone who garners immense loyalty and admiration.
“I was just looking at the numbers of people surrounding Davido the day I sat with him, I was just seeing how people were ready to be killed just to get to him. He is an elder. Davido’s father is a billionaire that has been doing big things before the singer’s arrival. His father is rich but not as Davido. If his dad is passing by, you might not recognise him, but if Davido passes here, a stampede will happen.”
Chatta’s remarks have stirred reactions across social media, with many debating whether fame and influence should outweigh wealth in defining success.
Veteran Nollywood actress, Rita Edochie, has expressed her admiration for Donald Trump, claiming that the entire world wishes for a leader like him.
The actress made this statement while celebrating Trump’s inauguration as the 47th President of the United States on January 20, 2025.
In a lengthy Instagram post, Edochie shared her unwavering support for Trump, despite facing criticism for her stance. She revealed that she is often referred to as “Mama Trump” by detractors but remains unfazed by their remarks.
READ MORE: Trump Dismisses Four Biden-Appointed Officials, Signals More Shake-ups
“January 20, 2025, marks a historic milestone as Trump takes oath of office as the 47th President of the United States. As you begin your new term, I wish you immense wisdom to tackle the challenges facing our nation,” Edochie wrote.
Describing Trump as an angel, she added, “After all, the entire universe wishes they had an Angel like Donald Trump to be their president.”
The actress also expressed her desire to see a leader in Nigeria who embodies Trump’s qualities, stating, “I do wish a man in the likeness of Trump be sworn into the Nigerian Executive Offices one day.”
Edochie’s comments have sparked discussions online, with many applauding her loyalty while others remain critical of her views.
Former Labour Party presidential candidate, Peter Obi, has taken to social media to celebrate the birthday of popular media influencer and entertainer, Tunde Ednut.
In a heartfelt post shared on Monday via X (formerly Twitter), Mr. Obi praised Tunde Ednut for his remarkable contributions to the entertainment industry.
The former Anambra State governor described Ednut as a creative and hardworking internet personality who has captivated audiences with his humor and consistency.
READ MORE: N12.3bn Fraud: Ex-First Bank Chair, Otudeko Flees Nigeria Ahead Of Arraignment
“Today, I join the world in celebrating the birthday of a remarkable Nigerian Media Influencer, Tunde Ednut,” Obi wrote.
“Tunde has earned his place as one of Nigeria’s most admired and hardworking internet celebrities, captivating audiences with his creativity, humor, and consistency.”
Acknowledging Ednut’s influence and ability to connect with people across borders, Obi lauded him as a significant force in the digital entertainment space.
He also extended his best wishes for good health, success, and continued contributions to the nation’s development.
“His impact on digital entertainment and his ability to connect with people across borders is truly remarkable, making him a force in the industry. On this special day, I wish Tunde Ednut good health of mind and body, continued success, and many more productive years ahead, as he continues to contribute to the development of our nation. Happy birthday, Tunde Ednut!”
Turkish Model Arrested Over Plan To Sleep With 100 Men In 24 Hours
Davido Is Richer Than His Billionaire Father – Ibrahim Chatta Claims
Train Accident In Maharashtra Claims 11 Lives After Panic Over Fire Alarm
Joy In Enugu As Beatrice Ekweremadu Released From UK Prison
Gov Alia Locks Out Civil Servants In Surprise Visit, Issues Stern Warning
UI Students Stage Peaceful Protest Over Ongoing Power Crisis At UCH
OSSG Raises Alarm Over Murder Plot By APC Chieftain
NCC, SMEDAN, NAICOM, SEC, Others Set for SUPERNEWS SMEs Conf June 13
Sahara’s Tonye Cole resigns from GPHCDA
Niger Delta Avengers: President Buhari Reads riot Act …considers the carrot and stick option
Oando opens ultra-modern petrol station in Lagos
