Oil
NNPC Seeks Greater Collaboration with Army, Police on Asset Security
ABUJA-The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC Dr. Joseph Thlama Dawha has expressed the desire of the Corporation to enhance existing cordial relationship between the NNPC and the Nigerian Army as well as the Nigeria Police Force towards the achievement of efficient protection of vital oil and gas assets.
Speaking during courtesy visits to the Chief of Army Staff Lt. General Kenneth Minimah at the Army Headquarters and the Acting Inspector General of Police, Suleiman Abba at the Force Headquarters, , Dr. Dawha expressed gratitude to the Security Chiefs for their role in providing the much needed cover for the smooth operations of the NNPC despite mounting security challenges.
At the Army Headquarters, Dr. Dawha said his visit was meant to renew the existing cordial relationship between the two organisations, stressing that NNPC would continue to collaborate with the Nigerian Army which he said has been providing security support for the Corporation’s assets in the Upstream, Midstream and Downstream Sectors.
The GMD lauded the role of the Nigerian Army in the security Joint Task Force (JTF), extolling the performance of the outfit in protecting NNPC assets in Port Harcourt, Benin and Auchi and also in the Chad Basin where one of the corporation’s Strategic Business Units, Integrated Data Services Limited, is currently engaged in Seismic data acquisition activities.
The GMD also noted the role of the Nigerian Army Engineering Corps in clearing and providing security for NNPC Right of Way across the Country.
Dr. Dawha enjoined the Nigerian Army to continue to provide security support in the fight against crude oil theft which he said has had a negative impact on the nation’s resources in recent times.
Welcoming the GMD to the Army Headquarters in Abuja, the Chief of Army Staff, Lt. General Kenneth Minimah expressed satisfaction in the collaborative bond between NNPC and the Nigerian Army saying the two organisations would continue to have common grounds of cooperation for the economic development of Nigeria.
Lt. General Minimah said providing security to national assets including those of NNPC was one of the first lines of duty of the Army assuring the GMD and his team of sustained support.
Lt. General Minimah appreciated the recent interventions from the various tiers of Government in providing appropriate platforms to enhance the Army’s effectiveness in providing security for NNPC assets, adding that the Army would strive to improve on its performance for the development of the country.
Before the visit to the Army Headquarters, the GMD was at the Louis Edet House where he paid tribute to the officers and men of the Nigeria Police Force for their untiring support in providing security to NNPC’s assets and facilities across all sub-sectors.
“We need to deepen and strengthen the close ties between NNPC and the Nigerian Police Force for the socio-economic growth and stability of the country,’’ the GMD said.
Responding the IGP said the Nigerian Police would continue to accord high priority to the protection of oil and gas facilities across the country.
“I have a new team in place and I assure you we will do whatever we need to do to give you better services in terms in terms of pipeline protection, ‘’ the IGP said.
The NNPC team on the courtesy visits included the Group Executive Director, Business Development Directorate, Dr. Attahiru Yusuf, GED Corporate Services, Dr. Dan Efebo and the General Manager, Security, Fred Owotorufa .
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.
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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.
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.
As part of the administration’s push to improve Ease of Doing Business (EoDB), Nigeria’s Vice President Kashim Shettima has expressed support for ExxonMobil’s plan to invest $10 billion in the country’s deep-water oil sector.
Speaking on Wednesday, September 25, 2024, during a meeting with ExxonMobil executives at the 79th United Nations General Assembly (UNGA) in New York, Shettima called the investment “a clear testament to the administration’s economic reforms and investor-friendly policies.”
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This announcement follows news that international maritime company DP World intends to develop a multibillion-dollar port project in Nigeria.
Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, shared the development in a statement on Wednesday. He quoted Shettima as saying: “ExxonMobil’s potential investment aligns with the vision of President Bola Ahmed Tinubu’s administration for a more investment-friendly Nigeria.
We are committed to fostering an environment that supports such transformative projects.”Shettima also discussed the administration’s broader efforts to improve the ease of doing business, highlighting the “Renewed Hope Agenda,” which aims to simplify bureaucratic processes, enhance transparency, and offer fiscal incentives to attract global investors.
“Our administration has taken bold steps to unify the exchange rate, remove fuel subsidies, and implement tax reforms. These measures, though challenging in the short term, are intended to create a stable and predictable business environment in the long term,” he added.
On the oil and gas sector, Shettima mentioned that the government is revising the fiscal framework for deep-water operations to attract investment while ensuring fair returns for the Nigerian people.
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