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Subsidy Removal, FX Reforms Driving Fresh Oil Sector Investment – Shettima

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Vice President Kashim Shettima has attributed renewed investment and stronger performance in Nigeria’s oil and gas sector to the economic reforms of President Bola Ahmed Tinubu’s administration, particularly the removal of petroleum subsidy and reforms in the foreign exchange market.

Shettima spoke on Friday in Lagos while commissioning the ultra-modern corporate headquarters of Northwest Petroleum & Gas Company Limited in Victoria Island.

The Vice President said the reforms had confronted distortions that previously discouraged productive investment, while improved market stability was helping businesses make longer-term investment decisions.

SEE ALSO: Shettima Arrives Lagos for Northwest Petroleum & Gas Headquarters Commissioning

According to him, greater exchange-rate predictability strengthens procurement, improves investment decisions and supports production.

“The stabilisation of the market is restoring the confidence businesses need to commit capital beyond the next quarter. A business must be able to plan before it can expand.

“Greater exchange rate predictability strengthens procurement, improves investment decisions and supports production,” Shettima said.

He assured investors that the Federal Government would continue to create conditions that reward enterprise, encourage technological advancement and sustain economic growth.

“We recognise the sacrifices reform has demanded, and our obligation is to translate economic progress into better lives,” he added.

Speaking on the newly commissioned Northwest Petroleum facility, Shettima described the headquarters as a significant expansion for the indigenous company and said it demonstrated the capacity of Nigerian businesses to compete, innovate and deliver at international standards.

He said the facility sends a message to investors, customers and Nigerians that Northwest Petroleum is preparing for decades of service in a changing global energy economy.

“We take particular pride in seeing an indigenous enterprise expand with such conviction. Nigerian ownership must mean Nigerian capacity to compete, invent and deliver,” the Vice President said.

Shettima also stressed the importance of private enterprises in creating employment and economic opportunities, noting that government alone cannot manufacture prosperity.

He commended Northwest Petroleum for building a strong Nigerian presence across the oil and gas value chain since 1998, saying its continued expansion could create opportunities for young Nigerians, professionals, suppliers, transport operators, maintenance providers and other businesses.

The Vice President urged the company to use its new corporate hub to improve efficiency, coordination and productivity across its expanding operations.

He also expressed confidence that the facility would nurture creativity, reward innovation, generate profitability and contribute to Nigeria’s economic development.

Earlier, Lagos State Governor Babajide Sanwo-Olu commended private-sector investors for contributing to the growth of the state.

Sanwo-Olu described the private sector as the “oil of growth” and reaffirmed the Lagos State Government’s commitment to creating an enabling environment for businesses to thrive.

He also thanked investors in the oil and gas, financial services and construction sectors for their contributions to the development of Lagos.

The Chief Executive Officer and Founder of Northwest Petroleum & Gas Company Limited, Winifred Akpani, said the new facility represented the company’s growth, confidence in Nigeria’s future and determination to build a modern Nigerian company capable of operating to high standards.

Akpani said the smart building was designed to promote collaboration, strengthen operational efficiency, encourage innovation and empower the company’s workforce.

She added that the future of the energy industry would increasingly depend on innovation, technology, responsible investment, strong partnerships and the development of Nigerian talent.

Also present at the commissioning were former Lagos State Governor Akinwunmi Ambode; Fatima Aliko-Dangote, Group Executive Director, Commercial Operations, Oil and Gas, WAEP, and Fertilizer, Dangote Industries Limited; former Delta State Governor James Ibori; and other business and industry leaders.

 

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Why Ebola Outbreaks Keep Returning to Africa, Dr Jean Kaseya Explains

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The Director-General of the Africa Centres for Disease Control and Prevention (Africa CDC), Dr Jean Kaseya, has explained why Ebola outbreaks continue to occur in Africa, citing the need for stronger health systems and surveillance mechanisms to prevent and control the spread of infectious diseases.

Kaseya spoke during an interview on Channels Television on Thursday, October 22, while discussing recurring Ebola outbreaks on the continent and the challenges facing public health authorities.

SEE ALSO: JUST IN: Over 3,000 Dead as Ebola Outbreak Ravages DR Congo

He explained that some outbreaks originate from animals and spread to humans through contact with the environment, stressing that effective surveillance and stronger healthcare systems were necessary to address the threat.

“We are in Africa in a specific environment. And as you are saying, this outbreak is coming also from animals to humans. It means we are in contact with our environment,” he said.

“But we can avoid that if we have a strong health system in place, if we have strong surveillance mechanisms in place. And this is what we are working to address.”

The Africa CDC chief also announced plans to convene African health ministers on October 28 to discuss the Ebola Bundibugyo outbreak, which he described as the most geographically widespread outbreak of its kind.

According to Kaseya, three African regions—West, Central and East Africa—have been affected, making coordinated action among countries increasingly important.

“This is why I’m calling even a meeting on the 28th of October of all African ministers, because we see now this outbreak — this Ebola Bundibugyo outbreak — is the most geographically extended outbreak, with three regions in Africa already affected: West, Central and Eastern African regions,” he said.

He also expressed confidence in Africa’s preparedness to respond to public health emergencies, while emphasising the importance of strengthening existing systems to contain outbreaks.

Africa CDC Seeks Cooperation Over Nigeria’s Reported Ebola Case

Kaseya further called for cooperation among Nigeria, Uganda and the Democratic Republic of the Congo (DRC) to clarify the travel history of a woman linked to Nigeria’s reported Ebola case.

He said he had been communicating with health authorities in the three countries to establish the woman’s movements before she returned to Abuja on October 3.

According to him, the woman was born in Uganda and had spent some time there before returning to Nigeria. However, further information was needed to establish whether she had travelled through the DRC or had contact with anyone arriving from the country.

“We are talking to all authorities—with Nigerian authorities, with Ugandan authorities, even to DRC authorities,” Kaseya said.

He urged the woman to provide the relevant information to health officials, noting that it would help authorities determine the circumstances surrounding the case and support the countries involved.

“What we want is collaboration from this person, the lady. She has to tell us, to disclose to the authorities. I need this information, as Nigeria needs this information, because we need also to support Uganda,” he said.

Kaseya added that establishing the woman’s travel history and possible contacts would help prevent misunderstandings between the African countries.

“I think these are the pieces of information we are looking for, and it will help all of us, and it will avoid crisis between African countries,” he added.

 

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Grains-Laden Truck Falls on BRT Lane in Lagos

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A truck carrying grains fell on its side after crashing into a road median at Itowolo, along the Ikorodu axis of Lagos State, early Thursday, occupying the entire Bus Rapid Transit (BRT) lane.

The incident occurred at about 5 a.m. along the route inward Agric and towards Ogolonto, according to the Lagos State Traffic Management Authority (LASTMA), which disclosed the development on Thursday.

SEE ALSO: Lagos: LASTMA Announces Traffic Restrictions Along Route to Toll Gate

The agency identified the vehicle as a white 10-tyre mini truck and confirmed that no casualties were recorded in the accident.

LASTMA said its officers were at the scene managing the situation, while recovery of the fallen vehicle was expected to commence shortly.

Despite the truck occupying the entire BRT lane, the agency said the incident was not affecting traffic flow at the time of its update.

The authority shared the information to alert motorists to the incident and its ongoing response at the scene.

 

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Ogun Police Chief Urges POWA to Turn Skills Centre into Industrial Hub

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Dead Bodies Not Safe Anymore, Ogun Residents Cry Out As 40 Skulls Exhumed From Graves

The Commissioner of Police in Ogun State, Bode Ojajuni, has urged the Police Officers’ Wives Association (POWA) to transform its skills acquisition centre in Abeokuta into an industrial hub to promote job creation, entrepreneurship and women’s empowerment.

According to a statement signed by the Police Public Relations Officer, DSP Oluseyi B. Babas eyi, on Thursday, Ojajuni made the call on Monday when he led members of the Ogun State Police Command’s Management Team on an inspection visit to the POWA Skills Acquisition Centre at the Command Headquarters, Eleweran, Abeokuta.

SEE ALSO: Wife Dies in Ogun House Fire as Police Take 56-Year-Old Husband Into Custody

During the visit, the POWA Acting Chairperson, Bolanle Adeoye, and members of the association’s executive received the commissioner and conducted him around the facility, including its photography and make-up studios.

The centre is designed to equip POWA members and members of the public with practical vocational skills, promote entrepreneurship and create sustainable livelihood opportunities, particularly for women and young people.

Ojajuni charged POWA to leverage partnerships with government agencies, private sector organisations, manufacturers, vocational institutions and development partners to transform the facility into a thriving industrial hub.

He emphasised that the centre’s vision should go beyond skills acquisition to include enterprise development, productive ventures and employment generation.

According to the statement, the commissioner stressed the need for the initiative to create opportunities for beneficiaries to become self-reliant and contribute meaningfully to economic growth.

Ojajuni also highlighted the relationship between economic empowerment and crime prevention, noting that sustainable livelihoods could help address socio-economic factors associated with criminal activity.

He stressed that the centre could contribute to public safety through crime-prevention awareness, constructive community engagement and opportunities that encourage women and young people to pursue legitimate and productive ventures.

Commending Adeoye and the POWA Ogun State executive for their commitment to human capital development, the commissioner pledged the command’s support for the centre.

He reaffirmed the command’s readiness to encourage strategic collaboration and partnerships that would advance the facility’s development, expand its reach and strengthen its contribution to empowerment and community safety.

The Ogun State Police Command reiterated its commitment to supporting initiatives that promote productive engagement, strengthen community resilience and advance public safety across the state.

 

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