Energy
NCDMB, STOILIC SHIPPING PARTNER TO SEND 10 CADETS ON SEA-TIME, COC TRAINING
…As Wabote Applauds Stoilic Shipping for Showing Commitment to Developing Indigenous Capacity
…Nigeria Can Generate Huge Revenue By Producing Seafarers- McFoy
The Executive Secretary of Nigeria Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has commended the Management of Stoilic Shipping Limited for its commitment to growing indigenous Capacity for the Nigerian maritime sector adding that the partnership between both bodies would only usher in further progress for the Nigerian maritime industry.
Engr. Wabote who was speaking as NCDMB and Stoilic flagged off a full-scholarship sea-time training for 10 cadets in Lagos today, reassured on the Board’s commitment to growing capacity for the Maritime Industry adding that the agency takes the training very seriously even as he noted that maritime trainings are cost intensive and would only take the commitment of parties involved.
The Executive Secretary who was represented by the Board’s Manager, Human and Capital Development, Mr. Timbiri Augustine, said that the conduct of the trainees has an implication on the country advising them not to be distracted at any point as they may face mild challenges such as turbulent weather, different environments, language barrier amongst others in their period of learning.
In his words, “We are building capacity and capability, but we are not limiting the utilization of this capacity to the Nigerian maritime and oil gas industry. The training is the type that will take you to other countries and different ports and therefore commitment is very critical, because the standard in view is a global factor, not Nigerian factor.”
Speaking further, he commended Stoilic Shipping for their commitment to the programme and re-emphasized the Board’s drive to the sustenance of the partnership.
On her part, the Executive Director of Stoilic Shipping, Mrs. Irene McFoy, charged the cadets to “change the dynamics of shipping companies not wanting Nigerian seafarers by stepping up the standards.
She assured the cadets that the company and its technical partners would take them through many training modules and placed them on ocean-going vessels, where they must start preparing for their CoC.
Mcfoy also urged the trainees to interact, be humble and learn from their teachers, comply with the rules, safety guidelines and all given ethical values of the maritime profession and their particular field.
According to her, the company, as a major private sector leader, “wants Nigeria to be one of the foremost countries supplying seafarers to the international maritime industry just like the Philippines.”
Noting that at least 28 per cent of the Philippines’ revenue comes from seafaring, McFoy, who was in charge of the cadet training at the Nigerian Maritime Administration and Safety Agency (NIMASA) before retiring, insisted that “there is nothing stopping Nigeria from being the best, or even better than the Philippines.”
She commended NCDMB for the partnership and re-emphasized that Nigeria is a littoral state, that has the manpower and the intelligence. She said that all the country needed is to get these students properly harnessed and Nigeria will do very well in the maritime sector.
Also, the Managing Director of Stoilic Shipping, Mr. Lotanna, urged the cadets to write their names in gold and always remember where they are coming from, he charged them not to be discouraged and tired and to always remember that there are many fellow graduates out there who yearn for this opportunity.
Sitting from left, Supervisor, Human Capital Development, (NCDMB), Sallahudeen Muhammad, General Manager, Operations, Stoilic Shipping Limited, Mrs Irene Mcfoy, Manager, Human Capital Development, (NCDMB), Timbiri Augustine, General Manager, Administration, Stoilic Shipping Limited Chinamanda Mcfoy, Managing Director, Stoilic Shipping Limited, Lotanna and Beneficiaries during the opening ceremony of the seatime training certificate of competency (COC) by stoilic shipping limited awarded by NCDMB for seafarers, in Lagos, on Tuesday.
Amid a slight increase in gas production, Nigeria’s oil output experienced a substantial rise in November 2024.
Gas production saw a 2.9% month-on-month (MoM) increase, reaching 2,292,951 million standard cubic feet (MSCF) from 2,292,471 MSCF in October.
However, on a year-on-year (YoY) basis, the growth was minimal, with a mere 0.02% increase in output for the first 11 months of 2024, compared to the same period in 2023.
READ MORE: Tinubu Mourns Ex-U.S. President Jimmy Carter, Celebrates His Legacy
The latest gas report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also revealed a 1.6% increase in domestic gas consumption.
A total of 606,658 MSCF was consumed locally, compared to 596,861 MSCF during the same period in 2023. Gas exports, meanwhile, rose by 6.9%, reaching 829,156 MSCF, up from 775,547 MSCF in the corresponding period of 2023.
This growth in exports continues to play a vital role in bolstering Nigeria’s foreign exchange earnings.
Despite these positive figures, sources close to the Ministry of Petroleum Resources (Gas) noted that oil remains the dominant force in Nigeria’s energy sector, with gas taking a secondary role.
On the other hand, the NUPRC’s oil production report revealed a remarkable surge.
Nigeria’s oil output, including condensates, rose by 13.3% year-on-year in November 2024, reaching 1.7 million barrels per day (bpd), up from 1.5 million bpd in November 2023. Month-on-month, oil production also increased by 10%, from 1.5 million bpd in October 2024.
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprises (CPPE), discussed the broader structural dynamics within Nigeria’s economy, highlighting the dominance of the non-oil sector.
In his 2025 Outlook, Dr. Yusuf noted that the non-oil sector contributed 94.43% to Nigeria’s GDP in Q3 2024, while the oil sector accounted for just 5.57%.
“However, the economy is characterized by a paradox of the oil sector contributing an estimated 90% of foreign exchange earnings, while the non-oil sector accounts for about 10%,” Dr. Yusuf said.
“This is a structural shortcoming in our economy which needs to be addressed, as sectors that contribute hugely to GDP have no corresponding contribution to foreign exchange earnings.”
He further emphasized the need to address the challenges faced by the non-oil sector, which include issues related to productivity, infrastructure, funding, and regulatory constraints.
“The policy implication is that more should be done to fix the challenges of productivity and competitiveness of the non-oil sector of the economy,” Dr. Yusuf added
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that the 125,000-barrel-per-day Warri Refining & Petrochemicals Company (WRPC) in Warri, Delta State, has become operational.
This is coming about a month after the commencement of operations at the 60,000-barrel-per-day-old Port Harcourt Refinery.
The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, made the disclosure during a tour of the facility on Monday.
ALSO READ: SERAP Urges Tinubu To Direct CCB To Publish President’s, VP’s, Others Assets
A video posted by Channels TV on Monday showed Kyari addressing a tour team, which included the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed.
Before the tour commenced, Kyari explained that the inspection aimed to show Nigerians the level of work completed so far.
According to him, although the repairs on the facility are not yet 100 per cent complete, operations have commenced.
He said, “We are taking you through our plant. This plant is running. Although it is not 100 per cent complete, we are still in the process. Many people think these things are not real. They think real things are not possible in this country. We want you to see that this is real.”
Located in Ekpan, Uwvie, and Ubeji, Warri, the petrochemical plant produces 13,000 metric tonnes per annum (MTA) of polypropylene and 18,000 MTA of carbon black.
Commissioned in 1978 and managed by NNPC Ltd, the WRPC was built to supply markets in the southern and southwestern regions of Nigeria.
The mechanical completion of the facility was initially scheduled for the first quarter of 2024, according to the Spokesperson of the NNPC Ltd, Olufemi Soneye.
“Warri should be done by Q1 (first quarter) 2024,” Soneye stated.
The WRPC is one of Nigeria’s four refineries. Others include the old and new Port Harcourt Refining Company in Rivers State and the Kaduna Refining and Petrochemical Company in Kaduna State.
MRS Oil Nigeria Plc, a prominent player in the Nigerian downstream oil industry, has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.
The company has also called on Nigerians to monitor and report any outlets that fail to adhere to the new price structure.
Biztellers reports that this is consequent upon an announcement by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.
ALSO READ: Dangote Slashes PMS Price To N899.50k
It was gathered that MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance.
In a statement on Monday night, the company declared, “Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOWING@NG.KPMG.COM”
Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”
In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol, with many expressing their gratitude to the Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indigenous refinery rather than import off-spec products into the country.
A commuter at the MRS station at Alapere on the Lagos Ibadan Express way, Ibukun Phillips, could not hide her joy as her husband filled up their car.
“I am very happy today. This is a victory for Nigeria,” she said. “The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”
A commercial bus driver, Adio Ajibade described the price reduction as a great relief, especially during the festive season.
“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.
A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represents a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.
According to Dr. Akanni, “this move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”
Kano Police Warn Residents Of Imminent Terror Attack Threats
TCN Completes Relocation Of 8 Towers, Ends Power Rationing In Abuja
Ifon-Ilobu-Erin Osun Land Disputes: Osun Constitutes A 100-Member Boundary Resolution Committee
Savannah Energy Provides Unaudited FY 2024 Trading Updates
Okpebholo Moves To End Indiscriminate Parking, Gridlock In Edo State
Leadership Newspaper Backs Adeleke For Second Tenure, Names Him ‘Gov Of The Year’
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
