Oil
60 Ogoni youths graduate from Shell-sponsored training for farmers
By Yemie ADEOYE
LAGOS – A total of 60 youths from Ogoniland on Tuesday graduated from a training programme on agricultural entrepreneurial programme organised by The Shell Petroleum Development Company of Nigeria Ltd operated Joint Venture in an effort to introduce youths in the area to viable means of livelihood.
The youths from the four local government areas in Ogoniland – Tai, Khana, Gokana and Eleme – received the four-week training at the Songhai Farm at Bunu-Tai, where they learnt vital skills in fishery, cassava production and poultry farming.
“The training is key first step towards making Ogoni youths self-reliant and eventually become employers of labour,” said SPDC’s Ogoni Restoration Project Manager, Vincent Nwabueze, at the graduation ceremony. “We urge the new entrepreneurs to work hard and be steadfast in their various enterprises irrespective of any initial challenges that may confront them.”
King Godwin Giniwa, the Gbene Mene Tai and President, Supreme Council of Ogoni Traditional Rulers said: “I want to thank Shell for what they are doing. They should continue to do more, especially to touch the lives of the people, because we are partners.”
Cross section of beneficiaries of the 2015 Ogoni Youths Agricultural Entrepreneurial Scheme sponsored by the Shell Petroleum Development Company Joint Venture, at the graduation ceremony held on Tuesday at Bunu-Tai, Rivers State.
The Director of Youth Enterprise Development and Promotion in the Rivers State Ministry of Youth Development, Mr. Festus Ugwuzuo, said that the agricultural training initiative of the SPDC JV under the Ogoni Youth Entrepreneurial Scheme has come at a time when there is growing need to diversify Nigeria’s economy. Brian Udoh, the training officer of Songhai Farm Rivers State said that the 60 trainees recorded 85 per cent success in the programme, which has equipped them to maximise the full value chain of each of their areas of specialization.
Representatives of the trainees, Jane Jiala, Nkiken Nwafor and Hanson Nwidobie, thanked SPDC and their trainers for the opportunity given them to make a difference in their lives.
The trainees were given funds for land preparation, business take-off and implements relevant to their trades. Another payment will be made to them when their businesses have taken off. Using the findings of a baseline survey, SPDC JV designed the agricultural programme to include links to market and credit facilities as well as mentoring and monitoring services for the beneficiaries.
As a result, SPDC JV has retained the services of consultants to mentor the young farmers for one year during which the first harvest and sale of crop and livestock would have taken place. At the end of the first year, the scheme beneficiaries will then be managed as part of the public agricultural extension services delivery.
Early this year, another set of 105 Ogoni youths graduated from Shell’s flagship entrepreneurship programme, LiveWIRE, which was extended to Ogoniland in 2014, with the objective of raising living standards and reducing crude oil theft through the promotion of alternative livelihoods.
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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