Business
Okonjo Kidnap: $1 billion Ransom Demand Dismissed by Law Enforcement
According to Mr Ikechukwu Aduba, the Commissioner of Police, these demands were not to the knowledge of the police.
Foreign news agency, reported that someone, possibly one of the kidnappers, had made the demand in a phone call on Monday. However, there was no way of confirming the genuineness of the phone call.
“We have to identify the source of the call. Anybody can make spurious calls and demands,” said Delta State Police spokesman, Sergie Ezegam, without giving details of who was contacted or what was demanded.
“We still don’t know the reason for her abduction. What we know is that this is a crime, the woman’s life is in danger and we are making frantic efforts to rescue her.”
The mother of the Finance Minister was kidnapped on Sunday afternoon from her home in Ogwashi-Uku by eight men who invaded her husband’s palace.
Not long after their arrest, the police disclosed that they had already obtained valuable information about the kidnappers and were hot on their heels.
“We have been able to rescue about 40 victims before,” Aduba said.
Also, the Chief Superintendent Frank Mba, the Deputy Force Public Relations Officer, said that detectives were working on certain clues and was secure in the knowledge that there will soon be a breakthrough in the investigation.
He also said that the Inspector-General of Police, Mohammed Abubakar, had directed Aduba to do everything possible to make sure that the wife of the traditional ruler of Ogwashi-Uku was released soon.
The police spokesperson also appealed to the people of Ogwashi-Uku to provide information to the police to assist them in the investigation, while assuring them that their queen would soon be released.
Meanwhile, there was anxiety at the Ministry of Finance over the abduction with mixed feelings observed among the workers. While lower cadre staff discussed the abduction in gatherings in hushed tones, the senior workers went around their normal activities.
The development did not also stop normal work from being carried out in the seven-storey complex of the ministry, which also houses the Budget Office of the Federation, as people with business transactions completed them in good time.
The Minister of Finance was said to have reported briefly to work early in the morning. However, she was in a pensive mood.
Her spokesperson, Paul Nwabiakwu, could not give any comments as calls placed to his phone went unanswered.
Also, the Delta State Governor, Emmanuel Uduaghan, has enjoined the people of Ogwashi-Uku and the Okonjo royal family not to take the law into their hands.
He stated this on Monday when he visited the family, saying that law enforcement agencies were already gathering information which will enable them track down the criminals and ensure her safe return.
He charged the community leaders, vigilance groups to remain calm and not to take any action that may prompt the kidnappers to act in rash manner.
“Please do not get involved in rumours mongering and trading stories that will not help law-enforcement agents. Only information that will help in her rescue is needed now,” he stated.
Meanwhile, a stakeholders group in the state, The People’s Movement, has condemned the kidnap, calling it barbaric and unreasonable.
The leaders in a statement signed by the Director of Communications of the People’s Movement, Mrs. Ibifuro Tatua, said they were disgusted at the “Gestapo” like manner in which the kidnappers we
Business
Adoption of AI Feature as NIPetGE Pays Courtesy Call at NNPC Ltd
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.
Business
FHC Orders NUPRC to Comply with PIA
Business
Local Firms Lead Revival of Idle Oil Wells – SPE
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.”




