Energy
Re-‘Abduction’ Of 14 Journalists in Oporoza – TOMPOLO
BY HIGH CHIEF GOVERNMENT EKPEMUPOLO
However, it has become necessary to make clarifications in the face of the deliberate distortion of facts by some mischief-makers intent on denigrating my person and questioning my integrity before the larger society. More so, I am persuaded by the fact of my experience as a crusader for equity, fairness and justice the world over including the oppressed people of Gbaramatu Kingdom in Warri South-West Local Government Area, who have always found brotherliness and companionship in members of the Fourth Estate of the Realm.
In the case of the development of the Ijaws of the Niger-Delta which I have championed over the years, journalists have been worthy partners even as their contributions have served as veritable means to ventilate our views, opinions and positions as a people who have had cause to draw global attention to our plight.
However, in the matter of the hyped ‘abduction’ of journalists in Oporoza last week, it is perhaps pertinent to state that they were victims of an orchestrated and well-rehearsed saga by their Itsekiri clients who lured them into a trap. Suffice it to say that unknown to the journalists (some of whom are my friends) and before their arrival in Warri, their Itsekiri hosts had concluded plans to video-capture some Ijaw settlements, especially Ikpokpo community, to show to the world as Itsekiri lands in their desperate attempts to distort historical facts, especially as the hosting/citing of the EPZ project poses some challenges. It should be noted that the Gbaramatu people have been agitating for inclusion in the EPZ project since 2012, as of right that part of the land earmarked for the project starting from Ikpokpo community belongs to them.
It was on the strength of the above that in November 2013, the Gbaramatu people were invited alongside other stakeholders, to the unveiling meeting of the project at Government House Annex Warri by NNPC and the State Government. At the said meeting, the Gbaramatu people, out of curiosity, inquired why they have not been recognized as stakeholders by way of acquisition of land from them. But to their surprise, the Governor shut them out of the project and merely identified them as ‘impacted community’.
From that point on, it was obvious the siting of the EPZ project was beyond the ordinary. We needed no soothsayer to tell us that the Governor was hiding something from the Gbaramatu people. Even though the governor later set up a committee to resolve the issues raised by the Gbaramatu people, our anxiety and suspicion further heightened when the November 14 date for the ground-breaking ceremony was announced even though the committee was yet to come up with acceptable terms for the siting of the EPZ project.
By way of protest, the Gbaramatu people addressed a world press conference at Oporoza on Wednesday, November 12, 2014 to press home, among other things, the need to properly identify host communities for the EPZ project before its commencement. It should at juncture, be noted that as said earlier, journalists are friends and partners in progress. It was this thinking that informed our decision to host them to the world press conference held at Oporoza without molestation of any form. Similarly, the Gbaramatu Ijaws neither attempted to video-capture Itsekiri communities as they (Itsekiri) did in their own case.
It is no longer news that the Federal Government did call off the ground-breaking ceremony pending the resolution of the issues, basically on the strength of our position and submissions canvassed at that world press conference which journalists also effectively relayed to the public. It is therefore out of place for the Itsekiri people to manipulate innocent journalists in this regard to the extent of going through the unfortunate ordeal in which I also sympathize with them.
I must emphasize at this point that the claim by the Itsekiri people that the journalists were on their way to cover the ground-breaking event can only be misleading. This is because the event had been called off four days before the presence of the journalists in Ikpokpo, precisely on Sunday 16th November 2014
Of course the media has been awash with personal insults on the President just as the Ugborodo (Itsekiri) people at this point also threatened to deal with the Gbaramatu people. True to the threats, they (Itsekiri) came to Ikpokpo community in two speed boats on a Sunday morning ostensibly to attack the community. While one of the boats escaped, the community intercepted the other and discovered that journalists were among other occupants. In addition, and to the amazement of the villagers, two guns and the sum of Two Million Naira cash were found in the intercepted boat.
At this point, the community had no option than to report the matter to the security agencies. It should however be noted that upon identification, no journalist was molested as widely claimed by mischief makers. The truth is that the people of Ikpokpo community immediately insisted on taking the intruders using journalists as shield to Oporoza, the traditional headquarters of Gbaramatu Kingdom. This was a sensible move as the continued stay on the river with the intruders could not have been in the interest of either party. To say the least therefore, it can only be out sheer mischief that people with dubious intents could describe such move as an ‘abduction’.
High Chief Ekpemupolo
Escalating tensions in the Middle East might push global oil prices to as high as $200 per barrel.
Biztellers reports that this is hinged on Iran’s declaration of intent not to allow a single litre of oil to pass through the Strait of Hormuz for the benefit of the United States, Israel, or their allies, as long as the hostilities between the trio persist.
On Wednesday, Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command headquarters, issued the warning amid rising hostilities between Tehran and Washington.
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“And let us firmly reiterate that we will never allow even a single litre of oil to pass through the Strait of Hormuz for the benefit of the US, the Zionists, and their partners,” he said, according to a report by Iran International.
“Any vessel or oil shipment intended for America, the Zionist regime, or their hostile allies will be a legitimate target for us.
“Your strategy of hiding behind Iran’s neighbouring countries and the Muslims of the West Asia region, and even the world, has expired,” Zolfaqari added.
He also warned that the United States and Israel would be unable to artificially suppress global oil and energy prices if the conflict widens.
“With the expansion of war in the region, we have announced that you should prepare for $200 per barrel because the price of oil depends on security in the region, and you are the source of insecurity,” he said.
The threat comes a day after the US president, Donald Trump, warned that “death, fire, and fury will reign upon them (Iran)” if Tehran attempted to disrupt the flow of oil through the strategic waterway.
For more than a week, the international crude oil market has been experiencing what traders describe as a “brutal wave of volatility” triggered by the escalating Middle East conflict.
Crude oil prices surged past $100 per barrel on Monday, the highest level since July 2022, before easing to about $87 on Tuesday.
On March 2, major container shipping lines suspended sailings through the Strait of Hormuz and the Suez Canal due to growing security risks linked to the crisis.
The Strait of Hormuz is a narrow maritime corridor linking the Persian Gulf with the Gulf of Oman and the Arabian Sea.
It serves as the only sea route connecting the Gulf’s oil and gas producers to global markets, making it one of the world’s most strategically important energy transit chokepoints.
The Nigerian National Petroleum Company Limited NNPC (NNPC Ltd) has announced that it had secured presidential approval for a targeted fiscal incentive package aimed at unlocking the long-delayed Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project.
This was detailed in a statement in Abuja by NNPC Ltd’s spokesman, Andy Odeh, who stressed that the development is expected to attract about $20 billion in Foreign Direct Investment (FDI) and revive large-scale offshore oil investments in the country.
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The approval, granted by President Bola Tinubu, it said, is designed to resolve long-standing fiscal and commercial bottlenecks that stalled the project for nearly two decades and pave the way for a major expansion of Nigeria’s deepwater oil production.
The Bonga Southwest Aparo development, operated by Shell through its Nigerian deepwater subsidiary, is expected to deliver about 150,000 barrels of crude oil per day and 140 million standard cubic feet (Scf) of gas daily once fully operational.
According to the statement, the presidential approval followed months of technical and commercial engagements involving the national oil company, the Nigeria Revenue Service (NRS), the Special Adviser to the President on Energy, Olu Verheijen, and the global leadership of Shell.
“His Excellency, President Bola Ahmed Tinubu, has approved a targeted fiscal incentive designed to unlock the long awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project, marking a milestone in Nigeria’s ongoing drive to attract strategic investments and accelerate sustainable economic growth. The project is estimated to attract about $20 billion in Foreign Direct Investment and position Nigeria for a new era of deepwater production.
“The approval followed months of intensive technical and commercial negotiations involving NNPC Limited as the concessionaire, the Nigeria Revenue Service (NRS), the Special Adviser to the President on Energy, Olu Verheijen, and the Shell CEO Mr. Wael Sawan,” it stated.
According to the statement, it represents the culmination of the President’s directive, issued during a courtesy visit by Shell CEO, Sawan, to fast-track the enablers required to move this strategic national asset to FID. Besides, the national oil company said it signals renewed confidence in Nigeria’s policy direction and its resolve to translate reform momentum into tangible investment outcomes.
The NNPC said the approval represented a significant milestone in Nigeria’s effort to reposition itself as a competitive destination for global energy investment, particularly in the capital-intensive deepwater segment.
Group Chief Executive Officer of NNPC, Bayo Ojulari, described the development as a major breakthrough for the country’s oil and gas sector.
He noted that the project had remained stalled for almost two decades due to fiscal and commercial uncertainties but said the latest approval reflected the government’s commitment to unlocking strategic investments.
Ojulari added that the milestone underscored the company’s commitment to leveraging partnerships with international oil companies to unlock Nigeria’s vast hydrocarbon potential.
“This approval is a testament to the President’s leadership, NNPC’s disciplined execution and our ability to structure complex, bankable transactions that deliver value for Nigeria. For nearly two decades, the Bonga Southwest project remained stalled. Today, under President Tinubu’s reform-driven leadership and through NNPC’s sustained advocacy, we have broken that logjam. This is what partnership, persistence, and policy clarity can achieve.
“This milestone further affirms NNPC’s commitment, under the President’s leadership, to unlocking Nigeria’s vast energy potential through partnerships, disciplined innovation and execution excellence,” the NNPC GCEO stressed.
The Bonga Southwest Aparo project will become the first deepwater final investment decision on a Production Sharing Contract (PSC) asset in Nigeria since 2008, signalling renewed confidence among international investors in the country’s policy environment.
Central to the breakthrough is the fiscal package approved by the President, which includes an enhanced Production Tax Credit as well as the resolution of issues arising from the 2021 dispute settlement agreement between the government and contractors.
The NNPC said the revised fiscal framework was designed to strike a balance between protecting Nigeria’s long-term revenue interests and ensuring the project remains commercially viable for investors.
As concessionaire, the national oil company said it worked closely with Shell Nigeria Exploration and Production Company (SNEPCo) and other contractor parties to design alternative fiscal structures capable of addressing structural challenges that had hindered progress on the project.
The proposal subsequently underwent evaluation by the NRS before recommendations were forwarded to the presidency for final approval. NNPC noted that the breakthrough aligns with its broader strategy of pursuing partnership-driven growth, particularly in high-capital offshore developments that require collaboration between the national oil company and global energy majors.
The company added that aligning policy reforms with investor expectations is essential to unlocking large-scale investments capable of generating jobs, boosting government revenues and strengthening Nigeria’s long-term energy security.
Once the final investment decision is taken by the project partners, the multi-billion-dollar development is expected to transform Nigeria’s deepwater production profile while creating significant economic benefits.
The NNPC estimates that the project will generate over 5,000 direct and indirect jobs during construction and operations. It could also signal the beginning of a new cycle of offshore investments in Nigeria, especially as global oil companies increasingly seek stable fiscal environments before committing capital to large deepwater projects.
With presidential approval now secured, NNPC and its partners are expected to move toward the formal FID, which would trigger the full-scale capital deployment required to develop the offshore field.
The global impact of the hostilities involving Iran, the United States of America and Israel continues to impact Nigeria’s domestic energy sector as the Dangote Petroleum Refinery and Petrochemicals on Tuesday announced reductions in its petrol and diesel gantry and coastal prices.
This follows Monday’s oil price slump to $90 per barrel from previous $115.
According to a new pricing template released by the refinery on Tuesday, the gantry price of petrol has been reduced by N100, dropping from N1,175 to N1,075 per litre.
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The Dangote Refinery also stressed that the price of petrol for coastal supply would now be N1,050 per litre, saying the difference in price reflects additional costs linked to maritime distribution.
Similarly, the price of Automotive Gas Oil (diesel) has been reduced to N1,430 per litre at the gantry, down from the previous N1,620 per litre. This represents a decrease of N190 per litre.
The refinery noted that these gantry prices do not include regulatory charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The Dangote Refinery had raised its gantry PMS price to N1,175 per litre — the third upward adjustment in seven days.
The refinery communicated the new ex-depot price to marketers and depot operators, up N180 from the N995 per litre announced last week Friday, an 18.1 per cent increase in three days.
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