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NIMASA Thumbs Up Blue Economy

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CAPACITY BUILDING: NIMASA RENEWS MoU WITH WORLD MARITIME UNIVERSITY

 

The Nigerian Maritime Administration and Safety Agency (NIMASA) is of the opinion that the vast blue economy habours potentials for growth, which can turn the tide, positively, for the Nigerian economy.

 

This was contained in a statement released under the signature of Director-General, NIMASA, Dr Bashir Jamoh.

 

According to the statement, Jamoh made the assertions while speaking as a guest lecturer at The Bullion Lecture organised by Centre for Financial Journalism held at the Civic Centre, Victoria Island, Lagos.

 

He decried the failure of Nigeria’s successive governments to explore the vast resources in the blue economy.

 

Consequently, Jamoh took the position that the blue economy could be used to knock off Nigeria’s huge debt profile which has been dragging her development efforts, while propagating poverty in the land.

 

He pointed out that the sea business is in vogue globally and that Nigeria’s future lies in blue economy.

 

Nigeria, the DG noted, has over 200 nautical miles available for fishing, yet has not been tapping into the sustainability which the blue economy offers.

 

In his words, “Ocean resources like fishes, shrimps and other sea foods have not been satisfactorily harnessed, just as ship repairs are done in neighbouring countries and in faraway Turkey because the facilities are lacking locally.”

 

He maintained that Nigeria must come up with appropriate policy interventions that focus on exploring and exploiting the huge opportunities of blue economy anchored on good governance.

 

“We need to take stock of what is out there in our waters, we need to take stock of what we have in terms of what will create jobs, build coastal communities, grow careers, enhance transportation of humans and cargo, renew and sustain the environment, reduce poverty and make our nation competitive by maximizing our competitive oceanic advantages.” Jamoh said.

 

Nigeria’s economic structure, in his thoughts, has not provided the window for diversification to thrive because of its inclination to traditional mode of producing goods and services.

 

He said, “The country had focused on a hybrid economic structure that blends oil with agriculture but the former remains consistent as an economic mainstay ahead of the latter over the years. Today, the waters provide low hanging fruits to diversify the economy.

 

“It is increasingly being accepted that the country’s future lies in Blue Economy with a coastline bordering the Atlantic Ocean from Badagry in Lagos to Bakassi in Cross River State”.

 

On efforts by the President Muhammadu Buhari administration to explore the blue economy, Jamoh revealed that it created the Expanded Partnership Committee on Sustainable Blue Economy in Nigeria chaired by Vice-President, Prof Yemi Osinbajo.

 

He pointed out that it has participation cutting across ministries, departments and agencies, while the transportation ministry plays a leading role.

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Adoption of AI Feature as NIPetGE Pays Courtesy Call at NNPC Ltd

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Enhanced adoption of artificial intelligence and other digital technologies to improve operations in Nigeria’s oil and gas industry is taking the centre stage in relevant circles.

The issue came up strongly when the President-elect of the Nigerian Institute of Petroleum and Gas Engineers NIPetGE, Prisca Kanebi, paid a courtesy call at the Nigerian National Petroleum Company Limited (NNPC Ltd), Abuja.

Biztellers reports that the Kanebi led delegation was received by the Group Chief Executive Officer of the NNPC Ltd, Bayo Ojulari, represented by the Executive Vice President, Gas, Power and New Energy, Olalekan Ogunleye.

According to a statement made available on Sunday, discussions at the meeting focused on the future of Nigeria’s hydrocarbon industry amid global energy transition concerns, technological changes and sustainability targets.

ALSO READ: NNPC Ltd, IOCs Raise Crude Supply to Local Refineries by 103% in 4 Months

The statement indicated that the NNPC Ltd acknowledged the role of NIPetGE in policy advocacy, technical development and innovation within the sector.

Speaking during the meeting, Kanebi highlighted recommendations from the institute’s recent conference, including the proposed establishment of a national centre for intelligent energy systems to support the deployment of artificial intelligence, the Internet of Things and robotics across the petroleum value chain.

She also commended the Federal Government’s decarbonisation efforts and reiterated the institute’s support for policies aimed at improving sustainability in the industry.

The institute also recommended the creation of a hydrocarbon-linked emissions trading system to allow Nigeria to take part in global carbon markets.

The institute also proposed fiscal incentives to support local manufacturing and service delivery in the oil and gas sector, as well as the expansion of the Energy Transition Plan to include measurable upstream decarbonisation targets backed by tax credits.

Other proposals included increased public-private partnerships in emission control infrastructure, carbon capture projects and hybrid renewable energy initiatives.

Both organisations also stressed the need for stronger collaboration between industry and academic institutions to improve professional capacity and align petroleum engineering practice in Nigeria with international standards.

The institute further disclosed that its bill seeking chartered status had passed second reading and was progressing towards a third hearing at the National Assembly.

It added that NNPC Ltd pledged support for future collaborations with the institute on initiatives aimed at improving efficiency and innovation in the energy sector.

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FHC Orders NUPRC to Comply with PIA

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Local Firms Lead Revival of Idle Oil Wells – SPE

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Nigeria’s indigenous oil and gas companies are reopening dormant wells and ramping up production from assets acquired from international oil companies (IOCs) to boost crude oil output.

The Society of Petroleum Engineers (SPE), Nigeria Council, made the assertion through its Chairman, Francis Nwaochie, on the sideline of the Offshore Technology Conference (OTC) which ended at the weekend in Houston, Texas.
Nwaochie said indigenous operators were already taking advantage of opportunities created by disruptions in the global energy market to increase production from existing assets.

According to him, local firms that recently acquired onshore and shallow water assets from IOCs were aggressively reviving inactive wells and maximizing available infrastructure to raise output levels.

“What we are seeing now is that indigenous companies are reopening wells from the assets they acquired from the IOCs. Some of them have almost doubled production from those existing assets,”.

He explained that the renewed focus on dormant wells and existing facilities had become critical at a time the global oil market was facing supply shortages triggered by geopolitical tensions in the Middle East.

The SPE Nigeria Council Chairman noted that Africa, particularly Nigeria, was well positioned to benefit from the supply gap because of the continent’s relative stability compared to some other oil-producing regions.

“There is a huge opportunity for Africa right now. The focus is gradually shifting to Africa because of the volatile environment in many other producing regions.”

He stated that indigenous operators were leveraging digital technologies, financing opportunities and local expertise to improve production efficiency and optimise existing fields.

He added that stronger implementation of local content policies was also helping to create a more stable operating environment for oil and gas investments.

“Local content is very critical. Once communities and local companies clearly understand their roles and benefits, then you create peace across the industry. Business only thrives in peaceful environments.”

ALSO READ: Nigerian Navy Recovers Large Cache of Illegal Refined Petroleum Products

Nwaochie also stressed the need for Nigeria to move beyond crude oil production and begin developing indigenous technologies for the energy industry.

According to him, SPE Nigeria Council was actively supporting innovation and technology development among young Nigerian engineers and researchers.

He disclosed that the association was engaging the National Universities Commission(NUC) on reforms to engineering curricula in universities to better prepare graduates for the future of the energy industry.

“One of our major focuses in SPE is technology development. We should not only import machines and equipment, we must begin to develop our own technologies locally.”

Nwaochie revealed that SPE was already supporting local innovators working on technologies such as remotely operated underwater vehicles (ROVs), noting that indigenous technology development will strengthen Nigeria’s economy and deepen local participation in the oil and gas sector.

“We may not get everything right immediately but we must start somewhere. That is how countries that dominate the global energy industry built their capacities.”

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