NEWS
Nigeria Might Start Importing Crude – Engr. Wabote
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has observed that Nigeria might resort to importing crude oil for its upcoming and existing refineries if concerted efforts were not made to improve on the current low production numbers.
His observation was contained in his goodwill message at the 41st Annual Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) on Monday in Lagos.
Engr. Wabote bemoaned Nigeria’s low production of crude oil and gas despite the abundant reserves and challenged members of the NAPE and other industry stakeholders to initiate efforts to reverse the situation.
He maintained that the Nigeria’s 37 billion barrels of oil reserves needed close attention bearing in mind the various efforts at revamping the refineries and commissioning of greenfield refineries.
According to him, “it will be a sad outcome if we stop the importation of refined petroleum products only to replace it with the importation of crude oil for use in our local refineries.”
He praised the important role of petroleum explorationists in the energy mix, especially in discovering, evaluating, and establishing the reliability and sustainability of the size of oil and gas reserves.
Dwelling on gas, the ES hinted that Nigeria had about 208 trillion cubic feet (TCF) of proven gas reserves and about 600TCF unproven reserves.
He subsequently charged petroleum explorationists to apply their skills and technology toward confirming the recoverable volumes from these unproven reserves and developing the proven reserves.
Engr. Wabote hinted that the focus on gas was important because gas was no longer Nigeria’s transition fuel but the destination fuel.
He assured that NCDMB is committed to providing all the necessary support to realize the gas business agenda of President Bola Tinubu.
On the conference’s theme, “Repositioning the oil and gas industry for future energy dynamics,” the NCDMB boss noted that the world stands at a key point where adequate consideration must be made to address the Energy Trilemma, which is, achieving an appropriate balance between energy security, sustainability, and affordability.
He added that the oil and gas industry had been a key pillar of global energy as it has powered and continues to power industrial and economic developments across the world.
Engr. Wabote pointed out that repositioning the Nigerian oil and gas industry for national development required collaboration and partnerships with key players and agencies across the upstream, midstream and downstream sectors and its entire value chain.
The Nigerian Oil and Gas Content Development Act (2010), he noted, provided the compass to enable the development and growth of local capacities and capabilities in the Nigerian oil and gas industry.
Engr. Waboted commended the Federal Government’s determination to sustain the gains realized in the oil and gas industry and the eagerness to consolidate them rather than reverse the gains of Nigerian Content.
He conveyed the Board’s readiness to support various oil and gas initiatives that would ensure patronage of local investments, boost investors’ confidence, and create jobs to sustain the relative peace in the oil and gas sector.
Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.
The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.
READ ALSO: Finnish Police Arrest Simon Ekpa Over Terror-Related Allegations
Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.
He urged the committee to carry out its assignment thoroughly and within the bounds of the law.
In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.
“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.
“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”
The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.
“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”
He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.
“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.
The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.
To address Nigeria’s ₦9.7 trillion budget deficit for the 2024 fiscal year, the Senate has approved President Bola Ahmed Tinubu’s request to secure a ₦1.77 trillion ($2.2 billion) loan.
The decision was made during Thursday’s plenary session, where a voice vote confirmed the approval following the presentation of a report by the Senate Committee on Local and Foreign Debts.
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Chaired by Senator Wammako Magatarkada (APC, Sokoto North), the committee endorsed the loan request as a vital step in managing the country’s fiscal challenges.
Recall that President Tinubu had submitted the proposal earlier in the week, outlining the loan as a crucial component of his administration’s external borrowing strategy.
Details shortly…………..
Simon Ekpa, a Finnish citizen of Nigerian descent, has been arrested by Finnish authorities on allegations of inciting terrorist activities.
The Päijät-Häme District Court ordered his detention following an incident that reportedly occurred in Lahti on August 23, 2021.
READ ALSO: Policeman Feared Dead As Gunmen Attack Checkpoint In Abia
The Finnish National Bureau of Investigation (NBI) is also seeking the arrest of four other individuals in connection with the case. Officials say the charges involve public incitement to commit crimes with terrorist intent.
“The detention demands are related to a preliminary investigation in which a Finnish citizen of Nigerian descent, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent,” the police said in a statement.
Details regarding the additional suspects or the specifics of the alleged crimes remain unclear as the investigation continues. Authorities have emphasized the sensitive nature of the case, stating that further information will be disclosed as the inquiry progresses.
This development marks a significant step in Finland’s efforts to combat terrorism and ensure public safety.
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