Oil
Patience Jonathan linked to Belema Oil as MOSOP kicks over immediate oil exploration in Ogoni
PORTHARCOURT-NIGERIA’s first Lady, Mrs Patience Jonathan has been alleged to have links to the newly registered Belema Oil Producing Ltd which is positioned to take over oil production in Ogoni land after 20 years of suspense.
Nigeria’s First Lady, Mrs Patience Jonathan
This is coming just as the Movement for the Survival of the Ogoni People, MOSOP,dissociated itself from the purported approval of the commencement of oil exploration and production in Ogoniland.
MOSOP said in a statement on Wednesday that contrary to the report, the people of Ogoni had not taken any position that supported the immediate commencement of oil production in the area.
It will be recalled that 20 years after the termination of oil exploration in Ogoniland, the people of the area had agreed that an indigenous firm, Belemaoil Producing Limited, should take over oil operations in Ogoni.
Shell Petroleum Development Company had left Ogoni after the people of the area insisted that the oil giant should stop operation in the area.
A senior official of the Department of Petroleum Resources, DPR, who spoke under condition of anonymity however stated that the new oil exploration company is being fronted for the first lady Mrs. Patience Jonathan. according to him the way and manner the company was registered makes it very easy to know that someone high up in Government is behind it. A thorough check would however reveal the true ownership, and Mrs. Jonathan holds a major stake in the company.
The people of Ogoni had taken the action in response to the death of their leader and renowned environmentalist, Ken Saro-Wiwa and eight others in 1995 after a military tribunal sentenced them to death for their alleged complicity in the killing of four chiefs.
But a communique signed by The Chairman, Supreme Council of Ogoni Traditional Rulers, His Royal Highness, King Godwin Giniwa and other traditional rulers in oil bearing communities of Ogoniland indicated that the people of Ogoni were in support of allowing an indigenous oil firm to begin oil exploration in the land.
The communique’, which was read by the paramount ruler of Ogale community in Eleme Local Government Area of Rivers State, , His Royal Highness, Godwin Bebe-Okpabi, called on Shell, the Federal Government, United Nations, European Union, the United Nations and human rights groups should give their support for the commencement of a successful oil exploration in the area.
“We hereby accept, present, endorse and declare Belemaoil Producing Limited to all Ogoni People, Shell Africa, Shell Investor Group, the Federal Government of Nigeria, World Investors Finance Groups, Finance Group, United Nations, all human rights support groups, European Union.
“Ogoni oil is now open for exploration and production for Belemaoil Producing Limited. Shell, the Federal Government and all groups should kindly give all necessary support to making this historic event successful,” the communique read.
But a statement signed by the Media/Public Affairs Advisor to the MOSOP President, Mr. Bari-ara Kpalap, indicated that though the movement was not against oil exploration and production in Ogoniland, due process must be followed to foster genuine participation and collective decision.
MOSOP noted that the haste with which the process of commencing oil exploration in the land lacked transparency.
“MOSOP would unequivocally wish to state that the Ogoni people have not taken such position. MOSOP is disappointed at the demonstrable desperation of the chiefs, Belema Oil and their collaborators, hence MOSOP dissociates itself from the purported declaration of the chiefs.
“Our position remains that whilst we are not opposed to prospective companies indicating interest in the Ogoni oil concession, and recognizing the sensitivity and peculiar circumstance of our people in relation to oil matters, due process has to be followed to foster genuine participation and collective decision.
“We regret to say that the haste with which the so-called process has been handled remains suspect as it lacks transparency. We therefore call on the good people of Ogoni and the general public not only to discountenance the baseless claims but also resist any attempt to fraudulently sell Ogoni oil through the back door,” the statement read.
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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