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.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that 172 Host Communities Development Trusts (HCDTs) have so far been incorporated by oil and gas companies operating across the country.
The chief executive, NUPRC, Oritsemeyiwa Eyesan, disclosed this while addressing the leadership of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in Abuja.
Under the Petroleum Industry Act (PIA), oil and gas companies, referred to as settlors, are required to contribute three percent of their Operating Expenditure from the preceding financial year into a Host Communities Trust Fund for the benefit of communities where they operate.
Eyesan said the NUPRC had been enforcing the provisions of the Act, particularly those relating to host communities and the obligations of operating companies, and had put in place regulations and procedures to streamline the process.
“We have laid out procedures for doing things and we have put regulations in place to streamline the process. So far, we have registered 172 HCDTs and we have been able to manage contributions by settlors,” she said.
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She said the trusts had funded the construction of schools, hospitals and other infrastructure, and had contributed significantly to peace and stability in previously volatile communities, which in turn had led to an increase in oil production.
Eyesan, however, admitted that some of the HCDTs had become subjects of litigation over disagreements on the constitution of their Boards of Trustees. She said the Commission had been working to ensure the trusts run smoothly, and that its Alternative Dispute Resolution Centre had played a key role in addressing some of the grievances.
She said that while the RMAFC’s interest in host communities was appreciated, oversight of how the funds are managed remained the exclusive preserve of the NUPRC.
The NUPRC boss also promised to investigate the lingering disagreement between Sterling Oil Exploration and Energy Production Company (SEEPCO) and its host community in Anambra State.
Responding, the chairman of the RMAFC, Dr Mohammed Bello Shehu, commended the NUPRC for overseeing reforms in the oil and gas sector that had contributed to growth in production.
Shehu said the RMAFC regards the upstream oil and gas sector as important, given that it accounts for a large share of revenue accruing to the Federation Account.
He thanked the NUPRC leadership for honouring the RMAFC’s invitation and called for stronger collaboration between the two institutions in the interest of the country.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that crude oil imports by domestic refineries rose by 151.5 percent to 5.13 million barrels in July 2026, from 2.04 million barrels in June.
In a related development, domestic crude supply to refineries fell sharply during the month.
According to the NMDPRA’s July 2026 Midstream and Downstream Statistics, local refineries received a total of 17.88 million barrels of crude in July, comprising 12.75 million barrels supplied domestically and 5.13 million barrels imported.
Imported crude therefore accounted for 28.7 percent of total crude receipts by domestic refineries in July, while domestic supplies contributed the remaining 71.3 percent.
The 5.13 million barrels imported in July represented a significant rebound from the 2.04 million barrels recorded in June. It was also higher than the 2.08 million barrels imported in May and 0.41 million barrels in April.
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However, July’s import volume remained below the 9.43 million barrels recorded in March, the highest monthly volume so far in 2026.
The data showed that crude imports stood at 0.71 million barrels in January before rising to 4.25 million barrels in February and peaking at 9.43 million barrels in March.
Imports subsequently plunged to 0.41 million barrels in April, before recovering to 2.08 million barrels in May, 2.04 million barrels in June and 5.13 million barrels in July.
The report also disclosed that domestic crude supply to refineries declined by 25.4 percent month-on-month, falling from 17.08 million barrels in June to 12.75 million barrels in July.
In January, domestic refineries received 8.83 million barrels of domestic crude and 0.71 million barrels of imported crude, bringing total receipts to 9.54 million barrels.
The figure rose to 13.13 million barrels in February, comprising 8.88 million barrels of domestic crude and 4.25 million barrels of imports.
March recorded the highest total crude receipts at 20.92 million barrels, with domestic supply contributing 11.49 million barrels and imports 9.43 million barrels.
Total receipts stood at 18.37 million barrels in April, made up of 17.96 million barrels of domestic crude and 0.41 million barrels of imports.
In May, refineries received 17.92 million barrels, comprising 15.84 million barrels of domestic crude and 2.08 million barrels of imports, while June recorded 19.12 million barrels, made up of 17.08 million barrels of domestic crude and 2.04 million barrels of imports.
Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.
In an official communication to customers issued on Tuesday, the refinery’s Group Commercial Operations announced revised depot prices for gantry and coastal deliveries.
The email, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, asked customers to take note of the revised DPRP PMS gantry and coastal price, which is effective 26th August 2026.
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According to the table contained in the notice, the coastal price rose from N1,562,265 per metric tonne to N1,582,380, while the gantry price increased from N1,185 to N1,200 per litre.
The refinery further directed customers to return all Authorisation to Collect documents for repricing, adding that a new volume contract would be issued for immediate loading resumption.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.
The latest adjustment represents a N15 per litre increase in the gantry price and comes barely days after the refinery raised the price from N1,165 to N1,185 per litre. The previous increase took effect from midnight on August 21, 2026, according to industry trackers.
However, the latest hike comes against a backdrop of falling international crude oil prices. Data from oilprice.com on Tuesday showed West Texas Intermediate crude trading at $82.13 per barrel, down $2.88 or 3.39 per cent, while Brent crude stood at $88.37 per barrel, declining by $3.80 or 4.12 per cent. Murban crude also fell to $92.71 per barrel, shedding $8.73 or 8.61 per cent.
Our correspondent gathered that marketers and depot operators who received the circular might have begun returning existing ATCs for repricing in line with the refinery’s directive.
The N15 increase could result in higher pump prices as oil marketers factor in transportation, landing and other downstream costs. Petrol is expected to return to an average of N1,250 per litre.
The Dangote Group has yet to respond to messages from our correspondent.
The price increase comes at a time of renewed volatility in the international oil market amid the ongoing US-Iran conflict. Reuters reported that oil prices fell as investors viewed the latest US sanctions against Iran as less threatening to global oil supplies than a military escalation. However, analysts warned that the decline could be an overreaction, noting that prices could rise sharply if Iran retaliates militarily.
Reuters also reported that supply disruption risks remained, with only two commodity vessels transiting the Strait of Hormuz on Monday, the lowest daily tally since early May. The waterway handled about one-fifth of global oil consumption before the conflict began, leaving the market vulnerable to further disruptions.
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