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Increased Crude Oil production: NCDMB Advocates Annual FID Week

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NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

 

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.

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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.

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Shettima Charges New CAF Secretary to Protect Nigeria’s Interests

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Vice President Kashim Shettima has charged newly appointed Confederation of African Football (CAF) General Secretary, Samson Adamu, to protect and promote Nigeria’s interests while advancing the development of African football.

Shettima gave the charge on Tuesday at the Presidential Villa, Abuja, when he received Adamu, who was accompanied by a delegation led by the Chairman of the National Sports Commission, Shehu Dikko.

SEE ALSO: Sanwo-Olu Pledges Full Support as Lagos Prepares to Host 2026 CAF Awards

The Vice President congratulated Adamu on his appointment, describing his emergence as the first Nigerian to occupy the position in CAF’s 70-year history as a significant achievement for the country.

Conveying President Bola Tinubu’s goodwill, Shettima urged Adamu to approach his new responsibilities with integrity, diligence and a strong sense of national pride.

“The President is proud of you, Samson Adamu. Go and do a yo-man’s job. Go and promote, protect and project and preserve the interest of the Nigerian nation,” he said.

Shettima described football as an important instrument of national unity, noting that the sport brings Nigerians together irrespective of their differences.

“Anytime Nigeria plays, it tends to subsume all other identities. Football and sports generally is a source of unity for our country. What binds us together superseded whatever divides us,” he stated.

He attributed Nigeria’s achievements in sports to the quality of its people and the contributions of administrators, coaches, talent scouts and institutions responsible for identifying and developing sporting talents.

The Vice President also recalled the achievements of Nigerian football legends, including Rashidi Yekini, Austin ‘Jay-Jay’ Okocha and Finidi George, noting that their successes were supported by individuals and institutions that nurtured their abilities.

Earlier, Dikko thanked President Tinubu and the Federal Government for supporting sports development, saying the administration’s commitment had strengthened Nigeria’s international sporting profile and created opportunities for investment through sports.

He described Adamu’s appointment as a major milestone for Nigerian sports administration and disclosed that the Federal Government had approved Nigeria’s hosting of the CAF General Assembly in November and the CAF Awards in December 2026.

In his remarks, Adamu expressed appreciation to the Federal Government for its support, describing his appointment as a source of national pride.

He pledged to use his experience as CAF’s former Director of Competitions to strengthen the continental body’s administration and advance African football.

Adamu also promised to support Nigeria’s efforts to harness its football talents and maximise its potential in continental and global sports.

He was appointed CAF General Secretary on Sunday, November 1, 2026, following a recruitment exercise by the continental football governing body. He is expected to oversee CAF’s day-to-day administration.

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Corruption Trials: EFCC, NJI Push Specialised Judges, Digital Evidence Reforms

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Economic and Financial Crimes Commission, EFCC,

The Economic and Financial Crimes Commission (EFCC) and the National Judicial Institute (NJI) have called for specialised judges, improved digital evidence management and legal reforms to accelerate the prosecution of corruption and other financial crime cases in Nigeria.

The recommendations were contained in a communiqué issued at the end of the 8th Capacity Building Workshop for Justices and Judges, held in Abuja from October 13 to 15, 2026.

The workshop, organised by the EFCC in collaboration with the NJI, was themed “Investigation and Prosecution of Economic and Financial Crimes in a Digital Age.”

SEE MORE: EFCC Arrests Enugu Estate MD Over Alleged N128m Land Scam

According to a statement signed by the EFCC’s Head of Media and Publicity, Dele Oyewale, the workshop brought together justices and judges from across the country, alongside EFCC investigators and prosecutors, for three days of lectures and deliberations.

Participants resolved that designating specialised judges and court staff to handle corruption cases, alongside targeted training, would help address delays in the administration of justice.

According to the communiqué, delays in resolving corruption cases “will be greatly reduced by designating specialised judges and court staff to handle such cases as well as equipping such judges and courts with necessary skills through training to ensure efficient, certain and consistent application of existing laws in the administration of justice.”

The participants also called for a balance between protecting the rights of defendants and ensuring the speedy administration of justice.

They said the criminal justice system “must strike the proper balance between fairness, efficiency and legal certainty in the protection of individual rights on one hand and the speedy administration of justice, on the other hand.”

To achieve this, they recommended reviewing relevant provisions of the Administration of Criminal Justice Act where necessary.

EFCC, NJI Seek Better Digital Evidence Management

The participants called for stronger investigation standards, including improved digital management protocols, to ensure that prosecutions rely on credible and admissible evidence.

They also recommended a more coordinated approach to obtaining confessional statements, stressing that institutionalising video recording and other necessary safeguards would protect suspects’ rights and preserve the integrity of investigations.

On asset recovery, the communiqué described Non-Conviction Based Asset Forfeiture proceedings as “an effective tool for recovery of stolen assets.”

However, participants stressed that its use “must follow extant legal protocols, adherence to human rights standards and strong institutional oversight.”

They also called for procedural reforms to allow extensions of time for freezing suspected proceeds of financial crimes.

Participants Recommend AI Guidelines for Judiciary

The communiqué further called on Ministries, Departments and Agencies in the anti-corruption sector to work with the National Assembly and the Judiciary to develop governance protocols and policy guidelines for adopting and deploying artificial intelligence in the administration of justice.

Participants also urged stakeholders to familiarise themselves with existing laws and regulations governing the investigation, prosecution and adjudication of financial crime cases involving virtual assets.

These include the Investment and Securities Act (2025), the Executive Order on Virtual Assets Coordination (2026), the Rules on Digital and Virtual Assets Operations (2026) and the Proceeds of Crime Act (2022).

The workshop also highlighted the need for increased investment in digital forensic laboratories, technology infrastructure and specialised training for investigators, prosecutors and judicial officers.

Participants called for continuous training to equip judicial officers and anti-corruption agencies with the skills required to address evolving economic and financial crimes in line with global best practices.

On the use of open-source intelligence, they said investigators, prosecutors and judicial officers should treat it primarily as a source of investigative leads and corroboration, while ensuring that evidence relied upon in court complies with applicable evidential rules.

NJI, NJC Urged to Develop Certification Courses

The communiqué recommended that the NJI, working with the National Judicial Council (NJC), develop accredited certificate and diploma courses to equip judges and other relevant stakeholders with the skills required to improve justice delivery, subject to any necessary legislative review.

Participants also called for sustained coordination among stakeholders in the administration of criminal justice, particularly in sharing information on emerging trends in the investigation and prosecution of economic and financial crimes in the digital age.

They urged heads of courts to use insights from the workshop to develop policies clarifying judicial practice on the technical issues discussed.

The workshop featured nine interactive sessions covering the admissibility of confessional statements, garnishee proceedings, abuse of court processes, asset forfeiture, artificial intelligence in investigations and prosecutions, virtual asset recovery and digital forensics.

Attendees included justices of the Supreme Court and Court of Appeal, judges of the Federal High Court, State High Courts and the High Court of the Federal Capital Territory, alongside other stakeholders in the judiciary and anti-corruption sector.

Participants expressed appreciation to President Bola Ahmed Tinubu, who was represented at the workshop by Vice-President Kashim Shettima, as well as other stakeholders and organisers who contributed to its success.

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LASTMA Alerts Motorists to Traffic Delays on Ogunnusi Road

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The Lagos State Traffic Management Authority (LASTMA) has alerted motorists to traffic delays along Ogunnusi Road towards Ojodu-Berger due to ongoing rehabilitation work.

LASTMA disclosed this in a post on its official X account on Sunday, stating that the road rehabilitation was being carried out by the Lagos State Public Works Corporation (LSPWC).

According to the agency, “The ongoing work is affecting traffic flow, with vehicles moving at a slower pace in both directions.”

ALSO READ: Chaos On Lagos-Ibadan Expressway As LASTMA Shuts Otedola Bridge

To ease the situation, LASTMA said a contraflow arrangement had been introduced for motorists travelling from Omole Junction towards Vis Junction.

“A contraflow arrangement is in place for vehicles coming from Omole Junction towards Vis Junction to facilitate the movement of traffic,” the agency stated.

LASTMA added that its personnel had been deployed to manage traffic and ensure the continuous movement of vehicles around the affected area.

“Our personnel are on ground managing the traffic situation and ensuring the continuous flow of vehicular movement,” the agency said.

The traffic management authority advised motorists to remain patient and exercise caution while the rehabilitation work continues.

“Motorists are advised to exercise patience and drive with caution while the rehabilitation work continues,” LASTMA stated.

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