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NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

The Nigerian Content Development and Monitoring Board (NCDMB) has constituted a Joint Working Team (JWT) with the Gas Aggregator Company Nigeria (GACN) Limited on gas utilisation and commercialisation.

According to a statement on its verified handle on micro-blogging website, X, this transpired last Wednesday.

At the inauguration at the Boardโ€™s liaison office in Abuja, the Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe, acknowledged the correlation between the mandates of the Board and GACN, noting that the collaboration would stimulate gas market expansion and sustainable development and monitoring of the midstream and downstream activities as relate to the Nigerian oil and gas sub-sector through commercialisation opportunities.

READ ALSO:ย Minister Hails NCDMB, Nedogas Strategic Partnership

The Executive Secretary, who was represented by the Director, Monitoring and Evaluation, Mr. Abdulmalik Halilu, announced that the aim of setting up the Team is to jointly develop a roadmap and strategise on new modalities for achieving collaboration and coordination among key stakeholders towards the effective commercialisation of Nigeriaโ€™s gas resources, thereby enhancing market penetration, fostering investment, and promoting sustainable growth in the Nigerian gas subsector.

While highlighting the responsibilities to the newly inaugurated Joint Working Team, he further charged members to work harmoniously to revisit, review and execute the Terms of Reference.

In his response, the Managing Director, Gas Aggregator Company Nigeria Limited, Mr. Chijioke Uzoho, stated that the Federal Government declaration of โ€œDecade of Gasโ€ is focused on transforming Nigeria into a gas-powered economy by 2030 through a series of policy reforms, gas supply projects maturation, gas infrastructure expansion, capacity building and robust investment attraction strategies.

He assured of initiating the mobilisation of compressed natural gas (CNG) facilities in the host state that houses the Local Content Board, โ€œto encourage the use of CNG as automobile fuel in Nigeria,โ€ adding, โ€œwe (GACN) need to develop favourable market-based policies and a natural gas transmission and distribution network; increase availability and access to CNG refueling stations and public awareness; begin with bi-fuel/dual-fuel automobiles in the state and country at large.โ€

Mr. Abdulmalik Halilu (NCDMB) and Mr. Chijioke Uzoho (GACN) will serve as co-chairpersons on the steering committee. Other members from the NCDMB include Ms. Tassalla Tersugh, Mr. Adedamola Aderibigbe, Mr. Ibrahim Sule and Mr. Brilliant Okon. Representatives from the GACN are Oche Agbese, Tari Mayor-Bright, Somkene Tassie, Muhammed Abdulhamid, Kufre Medo and Ekene Ebenebe.

The terms of reference of the JWT cover three key activity areas, namely, Market Development Initiatives and Strategies, Collaborative Coordination of Industry Events, and Industrial and Innovative Park Development.

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UNDC Assures on Readiness to Protect Oil, Gas Pipelines

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Pipeline contract

The Niger Delta Youths are primed to assume national responsibilities in critical areas of the economy by protecting vital oil and gas assets in the region.

The United Niger Delta Congress (UNDC) gave the assurance at a media briefing in Abuja, over the weekend, adding that the youths of Niger Delta were ready to work with the federal government in this regard.

The group maintained that youths in the region have shown that such responsibilities, including the security of pipelines, can be entrusted to them.

Speaking at the news conference, Niger Delta Youth activist, Mallam Julius Obi, said the Niger Delta is safer while the nationโ€™s crude is flowing based on the fact that youths in the region are doing the job.

He said that being a youth should not be a disqualification from strategic national assignments but when matched with preparation and character, a national asset.

โ€œWe are calling on the federal government to note that Nigeria is full of young men and women who are prepared, disciplined and ready to carry out national responsibilities.

โ€œWe urge the federal government to keep opening the doors of strategic national service to young Nigerians who have earned trust the only way it can be earned, by delivery,โ€ Obi said.

READ ALSO:ย JUST IN: Ex-Delta Governor Emmanuel Uduaghan Is Dead

The group commended President Bola Tinubu for sustaining the security reforms in the oil and gas industry and the the National Security Adviser (NSA), Mallam Nuhu Ribadu, for coordinating the protection of the nationโ€™s pipelines, and the management of NNPCL for providing the enabling environment.

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Ambakederimo Questions NNPC Over Crude Oil Sales, Upfront Payments

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Joseph Ambakederimo, convener of the South-South Reawakening Group, has questioned the accountability of Nigeriaโ€™s crude oil forward sales, demanding clarification on the volume of crude lifted, outstanding balances and the use of upfront payments.

Speaking during an interview on Arise TV on Sunday, Ambakederimo expressed concern over the monitoring of crude oil transactions, questioning who was responsible for tracking deliveries and providing feedback on the arrangements.

โ€œWe don’t even know who is monitoring and giving us the feedback of the barrels of crude that have been lifted on forward sales basis,โ€ he said.

SEE MORE:ย South-South Group Opposes Coastal Road Alignment With East-West Road

He challenged the Nigerian National Petroleum Company Limited (NNPC) to provide details of the transactions, including the quantity of crude already lifted, the outstanding balance and whether the agreed deliveries had been completed.

โ€œToday, can we get this from NNPC? How much have they lifted? What is the balance remaining? Have they been completed?โ€ he asked.

Ambakederimo also questioned how the money collected upfront under the arrangements had been spent, demanding an explanation of its use.

โ€œThat money that was collected upfront, what was the use of the money? Can you justify it?โ€ he asked.

He argued that Nigeria should make better use of its natural resources to accelerate infrastructure development and improve living conditions.

Citing land reclamation projects in the United Arab Emirates, Ambakederimo said Nigeria could explore similar opportunities to create additional land for residential and other developments.

He recalled seeing a signpost while travelling from Dubai to Abu Dhabi describing a project to reclaim land from the sea, using the example to highlight the development possibilities he believes Nigeria could explore.

The South-South Reawakening Group convener also argued that Nigeria could reclaim land in suitable areas, provided environmental concerns were properly managed.

He called for the country to translate its natural resource wealth into infrastructure and improved living conditions, stressing the need for greater accountability in crude oil transactions.

 

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IEA Puts UAEโ€™s Oil Output at 5.3mbpd for September

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Oil output from the United Arab Emirates (UAE) rose to record levels in September, underscoring its resilience even amidst the Middle East crises and liberation from OPEC+ limits.

The International Energy Agency (IEA) issued the data in its monthly report, adding that Abu Dhabi raised total oil production, including condensates, by 400,000 bpd to 5.3 MMbpd.

According to the IEA, the UAE bolstered crude output to more than 4.4 MMbpd, nearing its maximum capacity, which surpasses the previous highs for total oil in August, and crude oil in June.

READ ALSO:ย Africaโ€™s Energy Security Conversations Pull Industry Executives Together

The UAE has been one of the most successful among regional producers in restoring flows through the Strait of Hormuz, by drawing on a fleet of tankers to discreetly shuttle cargoes through the chokepoint and then transfer them onto other vessels. In addition, the countryโ€™s decision to leave the Organization of the Petroleum Exporting Countries (OPEC) as of May has freed it from the groupโ€™s output caps, a source of frustration for years.

Its gains contributed to a wider recovery in flows from Gulf producers, which reached more than 75% of pre-war levels in September, led by Saudi Arabia, according to the Paris-based IEA.

Still, itโ€™s unclear how far the regional rebound has withstood a new wave of Iranian attacks on tankers transiting Hormuz, and escalating hostilities carried out by the Houthi rebel faction in Yemen.

The UAE depleted its observable above-ground inventories at a record pace of more than 270,000 bpd in September, drawing them to an all-time low, according to the IEA.

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