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PIA To Unlock Investments In Nigeria’s Oil And Gas Sector – Sylva

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The Minister of State Petroleum Resources, Chief Timipre Sylva, has said that the desire to surmount the challenges bedeviling the oil and gas sector led to the enactment of the Petroleum Industry Act (PIA).

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Speaking at the Nigeria International Economic Partnership Forum, in New York, on Wednesday, with the theme: “Nigeria’s Oil and Gas Sector: Reforms, Results and the Road Ahead”, Sylva said the desire of the President Muhammadu Buhari’s government to inject life into the sector hitherto characterized by fiscal and operational challenges led to making proactive reforms in the sector a priority.

The minister said the enactment of the Petroleum Industry Act (PIA) on August 16, 2022 was a “watershed moment for the nation, the industry and all stakeholders alike, signaling the beginning of a more conducive environment for investment, output, industrial and national growth, while also addressing legitimate grievances of resource host-communities most impacted by resource extraction operations”.

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Sylva said the “PIA 2021, at full implementation, will create massive investment opportunities, improve transparency, attract investors, and reposition the Nigerian Oil and Gas industry for sustainable growth,” urging investors “to capitalize on the sustainable incentives provided by the PIA 2021 to invest in the oil and gas industry in Nigeria” with no future regret.

The minister told the gathering that the “PIA 2021 has established a legal, governance, regulatory, and fiscal framework for the petroleum industry, host community development, and associated matters” adding that “it provides fiscal certainty, improves regulations and incentives for investment, including up to ten-year tax vacations, while guaranteeing better take for both government and private investors, thereby balancing rewards with risk”.

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The minister who said the PIA has set the foundation for a sustainable growth in the sector with the establishment of the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reassured the international investors of government’s commitment in the sector.

“This administration remains committed to ensure a full implementation of these carefully conceived reforms to foster efficiency and attract investments and development of supporting infrastructure along the oil and gas value chain as embedded in our policy aspirations for the sector.

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“The government has taken the necessary steps to sustainably implement and operationalize the PIA 2021 within the timelines stipulated in the Act. To this end, the government has inaugurated the steering committee, which I chair, responsible for PIA implementation immediately after the PIA was signed into law,” he further stated.

He noted that the commitment of the Nigerian government to tackle the challenges in the oil and gas sector is a clear move “to reform the industry in order to build a robust, thriving and resilient economic backbone for domestic growth, expansion and consolidation in the era of the global energy transition, and also in a post covid world”.

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Reflecting on the theme of the conference “Nigeria’s Oil and Gas Sector: Reforms, Results and the Road Ahead”, Sylva said the theme resonates the aspirations and commitment of President Buhari’s government to reform the sector in order to make it pivot for industrial diversification, economic growth and sustainable development in Nigeria.

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Fani-Kayode Withdraws Case Against Estranged Wife

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A former Nigerian Aviation Minister, Chief Femi Fani-Kayode, on Thursday, withdrew an attempted murder suit filed against his estranged wife, Ms Precious Chikwendu.

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Prosecution counsel, John Ijagbemi, told Justice Inyang Ekwo of a Federal High Court, Abuja shortly after the matter was called for the defendants to take a plea.

“The matter was slated for re-arraignment of the defendants today. However, we want to plead to your lordship for the withdrawal of the case,” he said.

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Ijagbemi informed the court that the FCT Commissioner of Police was in receipt of a letter from the nominal complainant (Fani-Kayode) about his intention to withdraw the case.

He said the withdrawal of the charge was provided for in Section 108 of the Administration of Criminal Justice Act (ACJA), 2015.

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After the lawyer to Ms Chikwendu, Peter Abang, did not oppose the request, Justice Ekwo dismissed the suit.

In the amended 14-count charge marked: FHC/ABJ/CR/01/2022 dated and filed on April 28, Chikwendu was the 2nd defendant in the matter.

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Other defendants in the trial include Emmanuel Anakan, Prisca Chikwendu and Osakwe Azubuike as 1st, 3rd and 4th defendants respectively, while others are said to be at large.

Speaking to newsmen after the sitting, Abang described the withdrawal of the suit as “a welcomed development.”

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On his part, Ijagbemi said, “the complainant, via the prosecution, has the unfettered power to withdraw a charge before the court.”

He said with the provision of ACJA, 2015, a charge could be withdrawn even until a judgment against any of the defendants or accused persons standing trial before the court.

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The lawyer said the ex-minister, in his withdrawal of the case letter, informed that “the whole family members had a sit-down and amicably resolved the matter without any rancour or recourse to previous occurrences and they are happily standing and living together in love and in harmony.

“And we, being an institution of government saddled with the responsibility of the protection of lives and property, seeking peace and order in the society including individual family. We are glad to apply for the withdrawal of this case against the defendants.

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“You all know that it is the family that is really involved and we are interested in the peace and tranquillity of the family and that is why we have withdrawn it and it is our pleasure.”(NAN)

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SPOTTED: Tinubu Reading 8-Month-Old Newspaper In New Photo Showing He’s Well

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A picture of Asiwaju Bola Tinubu, Presidential Candidate of the All Progressives Congress (APC), has sparked fresh controversy.

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There have been different rumours about the health of Tinubu, who has been away from the country before the kick off of the campaign for the 2023 elections.

On Sunday, the ruling party’s presidential candidate released a proof of life video, where he was seen on a thread mill.

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Despite the footage, critics of the APC insinuated that some things were hidden about the health condition of Tinubu.

However, in an apparent manner to clear doubt on his health condition, Tinubu released some pictures on Thursday morning.

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In one of the pictures, he was seen reading an old copy of The Nation Newspaper, which he has the largest share in.

It is unclear whether the picture was taken in January when the paper was published or in October when the Presidential Candidate has been convincing people about his health condition.

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Below are the front cover of the Paper and the picture that Tinubu put up on social media today:

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Reactions as new photos of Tinubu with grandchildren resurface on social media

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By Francesca Iwambe

Reactions have continued to trickle from Nigerians on social media over photos of presidential candidate of the All Progressive Congress, APC, Asiwaju Bola Tinubu with his grandchildren, which surfaced on Twitter and Instagram on Thursday.

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Tinubu’s son shared photos of the APC flag bearer on his verified Instagram handle with the caption and hashtags, “ Hi Grandpa #FamilyFirst#TinubuFamily #FamilyMan #Grandpa #TakenOnSunday #Noella #BATSenior #BATJunior #Leader.”

Special assistant on digital communications to President Muhammad Buhari, Bashir Ahmad, also shared Tinubu’s photos on Twitter on Thursday.

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Ahmad tweeted, “Good morning from our presidential candidate, Asiwaju Bola Ahmad Tinubu, and his grandchildren. A wonderful family person.”

Recall that Tinubu shared a video of himself cycling on a fitness bike on Sunday.

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The video, which went viral, had since elicited questions about his whereabouts.

But, the spokesperson of the APC presidential campaign council, Festus Keyamo has said cycling is a regular routine for Tinubu, adding that the former Lagos state governor was not trying to prove any point.

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Keyamo, while speaking in an interview with Channels Television’s Politics Today on Wednesday, described Tinubu as an “avid cyclist.”

His words, “People who are close to him know that he is an avid cyclist. He does that all the time. It is his regular routine. So, we are not trying to prove anything to anybody.”

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Meanwhile, Tinubu also posted picture of himself in an office on Instagram on Thursday with a caption that simply reads, “Stay Focused.”

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