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NNPC Signs Gas Supply Deal For $3.3bn Methanol Plant In Bayelsa

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By Kayode Sanni-Arewa

The Nigerian National Petroleum Company (NNPC) Limited signed a partnership with Shell, TotalEnergies, and Agip, to complete a historic agreement to supply gas to a $3.3 billion methanol plant being developed by Brass Fertilizer & Petrochemical Company Limited in Bayelsa State.

Ekperikpe Ekpo, the minister of state for petroleum (Gas) disclosed this in a statement on Friday after signing the sales-and-purchase agreement.

According to Ekpo, the agreement is a significant effort towards harnessing the review of Nigeria’s vast gas reserves.

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A significant milestone in ongoing efforts to monetize Nigeria’s vast gas reserves.

“The accord will enable Brass and its partners to proceed with the construction of the $3.3 billion project,” he said.

Accordingly, the state-owned oil company and its partners are expected to supply approximately 270 million standard cubic feet of gas per day to the project, situated on Brass Island in Bayelsa state, southern Nigeria.

The Minister stressed that the Nigerian government anticipates the project will generate over $1.5 billion annually from exports of fertilizers, petrochemicals, and other gas-derived products.

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The development comes as the Nigerian government through its Presidential Committee on Compressed Natural Gas Initiative has commenced the expansion of CNG conversion across the country to reduce dependence on Premium Motor Spirit (petrol).

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Let oracles decide Owa-Obokun stool, contestant tells Osun govt, kingmakers

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Prince Kayode Adewale, a contestant for the vacant Owa-Obokun of Ijesa land throne, has urged the Osun state government and traditional kingmakers to rely on oracles and deities in selecting the next monarch of the ancient town.

Prince Adewale of the Owa Bilaro Oluodo Royal Family, made the call during a press conference in Ilesa, Osun State, on Thursday.

He noted that the Ifa oracle, along with the Obokun and Ogun deities, should be the determining factors in the selection process.

The stool became vacant following the passing of Oba Gabriel Aromolaran, who joined his ancestors on September 11, 2024, after a 42-year reign.

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As the contest intensifies, an Osun State High Court, presided over by Justice Adeyinka Aderibigbe, has restrained Governor Ademola Adeleke and others from appointing a new Owa-Obokun from the Haastrup family or any other candidate.

Amid the ongoing legal battles, Prince Adewale reaffirmed his interest in the throne, advocating for adherence to traditional processes to ensure fairness and legitimacy.

He said: “The Owa Obokun stool is not for sale. In Ijesaland when it’s comes to selection of a new King the Ifa, Obokun and Ogun deities will be consulted and the person that has the highest vote from them will emerge as the king.”

Declaring his intention, Adewale said he is committed to standardizing mining practices and implementing robust land reclamation policies.

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“Ijeshaland is blessed with abundant natural resources, particularly in gold mining. However, our gold resources must be harnessed responsibly and sustainably. Under my leadership, I will work towards the standardization of gold mining practices, ensuring that this wealth benefits the people of Ijeshaland while preserving our environment for future generations.”

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Reps approve extension of 2024 budget implementation to June next year

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The House of Representatives on Thursday approved the extension of the implementation of the capital component of the 2024 budget from 31 December 2024 to 30 June 2025.

Leader of the House, Hon Julius Ihonvbere, laid the report of the report of the bill seeking the extension as the House dissolved into the Committee of Supply to consider it.

It is titled, “A Bill for an Act to Amend the Appropriation Act, 2024 to extend the implementation of the Capital Component of the Appropriation Act, 2024 from 31 December, 2024 to 30 June, 2025 and for Related Matters (HB.2023)”

Deputy Speaker, Benjamin Kalu, who announced the adjournment of plenary to January 14, 2025, urged members to work hard in their various to ensure that the prompt passage of the 2025 budget upon resumption.

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ALGON condemns suspension of Edo LG chairmen, councillors

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The Association of Local Governments of Nigeria (ALGON) on Thursday condemned in strong terms the suspension of 18 local government chairmen and councillors in Edo state by the House of Assembly.

Governor Monday Okpebholo had accused the suspended chairmen of disobeying his instructions by allegedly refusing to submit their financial records to the state government.

However, the ALGON’s National Executive Council (NEC) and its Board of Trustees (BoT) on Thursday jointly condemned the decision saying the governor and lawmakers did not give the council chairmen fair hearing to defend themselves.

The association at an emergency meeting in Katsina state, appealed to President Bola Tinubu to intervene, emphasising the need to respect the autonomy and independence of local governments as guaranteed by the nation’s constitution and recent ruling by the Supreme Court.

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“ALGON views this suspension as a setback for democracy and abuse of power, particularly since the chairmen were not given a chance to defend themselves.

“This suspension is invalid. It contradicts the Supreme Court’s judgment granting local governments autonomy,” the ALGON National Publicity Secretary, Hamisu Anani, in a statement said.

Anani stated that if the Edo State House of Assembly’s decision was right, it would not have generated criticisms across the length and breadth of the country.

“This suspension is unconstitutional; it is null and void.

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“ALGON is hereby urging the Edo State House of Assembly to reverse the decision and respect the rule of law to strengthen democratic governance.

“ALGON also appeals to President Bola Tinubu to intervene and halt this abuse of power,” the statement said.

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