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NNPC Increases scholarship Award as FCT emerges 2015

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ABUJA-The Federal Capital Territory representing the North Central Zone has won the 2015 NNPC Annual National Quiz Competition.
 
The competition was won by three students from different secondary schools in the FCT and they will enjoy university scholarships to be sponsored by the Nigerian National Petroleum Corporation (NNPC) in any Nigerian Ivory Tower.
 
NNPC Towers, Abuja

NNPC Towers, Abuja

Speaking during the grand finale of the event at the NNPC Towers, Abuja, the Group Managing Director of the Corporation, Dr. Joseph T. Dawha felicitated with the winners and assured of the readiness of the NNPC to sustain the programme in order to mentor the leaders of tomorrow to succeed in their academic pursuits.

 
Dr. Dawha said the competition which is the 14thedition has lived up to the objectives for which it was instituted, adding that most of the winners of the competition in the past have graduated with flying colours from various universities across the country.
 
According to him, since the National Quiz Competition had its debut 14 years ago, it has helped in developing the interest of young Nigerians in studying science and technology courses in tertiary institutions across the country and beyond.
 
He said the scholarship scheme has not only helped the development of science and technology in the country but has also gone a long way in assisting the nation’s future leaders to prepare towards contributing their quota to national development.
 
He assured that NNPC would not relent in supporting this National Quiz Competition and other community-based efforts aimed at building national human capacities and capabilities stressing that the NNPC would continue to execute many more strategic community development projects, particularly those that would rapidly improve the lives of Nigerians.
 
Dr. Dawha announced the increase of the bursary from N100, 000 to N250, 000 annually for all NNPC scholars throughout their first degree programmes.
 
On his part, the Permanent Secretary Ministry of Petroleum Resources, Mr. Taiye Hassan Haruna represented by the Director Reform and Coordination Mrs. Edna Eneh commended the NNPC for giving the young ones the opportunity to compete at the national stage stressing that hard work is the only way out of hard life.
 
Delivering a key note address, the Permanent Secretary Ministry of Education Dr. MacJohn Nwaobiala represented by Mrs. Justina Ibe, Director Support Services in the Ministry applauded the NNPC for encouraging science based education saying it would go a long way to sustain the development strides of the Federal Government.
 
Presenting a goodwill message, a pioneer winner of the NNPC quiz competition Modungwo Andrew Nwabu expressed gratitude to the NNPC for the award of scholarship that saw him through his University education and called on the winners to do the Corporation proud.
 
In his remarks, the Group General Manager, Group Public Affairs Division, OHI ALEGBE, said the NNPC as a responsible and responsive corporate citizen, would continue to contribute its quota to adding value to the educational sector through its annual quiz competition.
 
The list of finalists for the 2015 NNPC Annual National Quiz Competition were made up of the champions of the six geo-political zones as follows: Akwa Ibom for the South- South, Anambra for the South-East, FCT for the North-Central, Lagos for South West, Katsina for North-West and Gombe for North-East, and they competed in English Language, Mathematics, Chemistry, Physics, Biology and General Knowledge.
 
 

Oil

NNPC Targets 60% Methane Emission Reduction By 2031

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The Nigerian National Petroleum Company Limited (NNPC) has unveiled a bold strategy to reduce methane emissions in the oil and gas sector by 60% by 2031, with an ultimate goal of achieving net-zero emissions by 2060.

This announcement reinforces Nigeria’s leadership role under the Global Methane Pledge initiative and its commitment to tackling climate change.

The Group Chief Executive Officer of NNPC, Mele Kyari, disclosed these plans during a meeting on Thursday with Robert Leahman, the U.S. State Department’s Global Methane Program Manager, and a delegation from Deloitte.

READ MORE: Atiku Gloats Over AUN’s Achievements Ahead Of 20th Anniversary

The discussions, held at the NNPC Towers in Abuja, focused on collaborative efforts to reduce methane emissions through innovative and sustainable practices.

“Reducing methane emissions is not just an environmental necessity but also a strategic imperative for Nigeria’s energy transition. We are leveraging partnerships to adopt global best practices and innovative solutions,” Kyari stated.

Key among these efforts is a pilot project in the Niger Delta, aimed at establishing emissions baselines, mitigating methane leaks, and promoting sustainable operations across Nigeria’s energy sector.

The project, a partnership between NNPC, Deloitte, and the U.S. Bureau of Energy Resources, will utilize data-driven methodologies to pinpoint and address methane hotspots.

Robert Leahman commended Nigeria’s proactive stance, describing it as a benchmark for other nations on the continent.

“Nigeria’s leadership under the Global Methane Pledge sets a standard for the continent. These initiatives will not only help reduce emissions but also drive sustainable development in the energy sector,” he said.

Kyari highlighted the broader benefits of addressing methane emissions, noting its significance for both environmental protection and economic efficiency.

“This collaboration is a game-changer. By addressing methane leaks, we’re reducing waste, saving costs, and protecting the environment. It’s a win-win for our economy and the planet,” he added.

 

 

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Oil

FG Introduces New Incentives To Revitalize Nigeria’s Oil & Gas Industry

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In a strategic move to revitalize Nigeria’s oil and gas sector, the Federal Government has unveiled two key fiscal incentives aimed at attracting investment and enhancing energy security.

The announcement was made by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy on Wednesday.

The first initiative, the Value Added Tax (VAT) Modification Order 2024, introduces critical exemptions for essential energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment.

Read Also: Atiku Calls For Rotational Presidency Across Nigeria’s Geopolitical Zones

These exemptions are designed to reduce living costs for Nigerians, promote energy security, and accelerate the transition to cleaner energy alternatives.

The second initiative, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production, offers new tax relief options for deep offshore exploration projects.

This measure aims to position Nigeria’s deep offshore basin as a premier destination for international oil and gas investments, boosting the country’s appeal to foreign investors.

These reforms are part of a broader set of policy initiatives, known as Policy Directives 40-42, endorsed by President Bola Ahmed Tinubu.

The directives reflect the administration’s commitment to fostering sustainable development in the energy sector and enhancing Nigeria’s competitive edge in the global oil and gas market.

 

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Tinubu set to approve ExxonMobil-Seplat oil deal, expands CNG bus initiative

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By Yemie Adeoye

NIGERIA’s President Bola Tinubu has announced that the protracted ExxonMobil-Seplat upstream oil divestment will be formally approved by the Minister of petroleum within a matter of days, just as he announced his government’s intention to expand the Compress natural Gas, CNG buses initiative.

The President who stated this during his Independence day nationwide broadcast stated that the move is in line with his administration’s commitment to free enterprise, free entry and free exit in investments which is the hallmark of his administration investment policy.

“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”

The President also seized the opportunity to plead with Nigerians to be patient with his administration’s reform policies. “As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel”.

“Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.

Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace”. he enthused.

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