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Just in: Tinubu Signs Executive Order On Oil And Gas Reforms
President Bola Ahmed Tinubu has executed Policy Directives to improve the investment climate and position Nigeria as the preferred investment destination for the oil and gas sector in Africa.
This was made known in a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale.
He stated this was done by Tinubu in keeping with his dedicated efforts to remove obstacles to investments in Nigeria, harness the nation’s resources and diversify the economy for the benefit of all Nigerians.
The statement adds: “Following extensive engagements, analyses, and benchmarking with other jurisdictions, the President has initiated the amendment of primary legislation to introduce fiscal incentives for oil & gas projects, reduce contracting costs and timelines, and promote cost efficiency in local content requirements.
“Recognizing the urgency to accelerate investments, the President has directed as follows:
(1) Introduction of fiscal incentives for non-associated gas, midstream and deepwater developments.
(2) Streamlining of contracting process to compress the contracting cycle to six months.
(3) The application of the local content requirements without hindering investments or the cost competitiveness.
“The details of these Policy Directives will be gazetted and communicated by the Federal Ministry of Information and National Orientation.
“These incentives were developed in collaboration with the Federal Ministry of Justice, Federal Ministry of Finance, Federal Ministry of Petroleum, Federal Ministry of Budget and Economic Planning, Federal Inland Revenue Service, the Nigerian National Petroleum Company Limited, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Midstream and Downstream Petroleum Regulatory Commission, and the Nigerian Content Development and Monitoring Board.”
Ngelale disclosed that the Special Adviser to the President on Energy has been directed to continue coordinating the aforementioned stakeholders to ensure the implementation of these directives within a stipulated timeframe.
News
BLACKOUT as TCN Announces Power Outage In Abuja
The Transmission Company of Nigeria (TCN) has announced planned power outages in certain areas this weekend to allow for maintenance work on its transmission equipment.
According to a statement by the General Manager of Public Affairs, Mrs. Ndidi Mbah, the exercise is aimed at ensuring better service delivery.
On Saturday, December 28, 2024, from 9:00 a.m. to 1:00 p.m., Gwagwalada and nearby communities will experience a temporary power outage. This is to allow engineers to perform maintenance on a 60MVA transformer and related switchgear at the Gwagwalada Transmission Substation.
Similarly, on Sunday, December 29, 2024, power will be interrupted in several areas, including Wuye, EFCC, Federal Medical Centre, Coca-Cola, Idu Railway Station, Citec, and Life Camp. The outage will occur from 9:00 a.m. to 1:00 p.m. as engineers carry out work on another 60MVA transformer at the Kukwaba Transmission Substation.
In the statement, TCN apologized for the inconvenience caused by the outages and sought the understanding of affected customers. It emphasized the importance of the maintenance work to ensure the power equipment functions optimally. “TCN apologizes for the inconvenience this may cause, especially during the end-of-year season. However, it is important that maintenance is carried out as scheduled for optimal performance of power equipment,” the statement read.
News
BREAKING! Confusion trails free train ride, hundreds of passengers stranded(PHOTOS)
* As train is delayed, NRC officials demand tickets
By Emmanuel Agaji
The much publicised tree train ride for passengers travelling to different destinations along the Itakpe/ Warri route may be a hoax as officials of the Nigeria Railway Corporation (NRC) at Itakpe, Kogi State, demand e-tickets and other evidence of payment for the trip.
Naojablitznews observed that upon arrival at the train station, travellers are accosted by the train operators to show their tickets to confirm their booking for the ride.
When a passenger shows his ticket, he is allowed to move into the Departure Lounge while those who had arrived on the assumption that the train ride was free are shoved aside , told to write down their names on a sheet of paper and stay under a canopy until those who paid for the trip have been allocated seats on the train.
The Federal Government had, a few days ago announced that Nigerians will enjoy free train rides during the Christmas and New Year celebrations.
The government also announced that transportation by road would be subsidised up to fifty per cent. However, these promises appear to have been mere propaganda.
The situation has left many travellers confused and stranded especially as
the train which ought to take off from Itakpe at t 2 pm on Saturday has not shown up at the station as at 3.16 pm.
Hundreds of passengers are currently stranded and waiting under the scorching heat of the sun as officials continue their discriminatory admission of passengers into the Departure Lounge.
There are fears that the train may not hit the station until about 4 pm and many passengers may not have space on it because of the perceived underhand dealings by the train officials.
While the officials of the Itakpe Train Station continue to plead for understanding over the delay of the train, their emphasis has been on how to cater for those who booked online for the trip and very little or no emphasis is made to reassure those who came for the free ride announced by the Federal Government that they were at the right place.
More details later
News
IGP mourns retired senior officers, Jitoboh, Longe
The Inspector-General of Police, Kayode Adeolu Egbetokun, has expressed profound shock and sadness over the recent passing of two retired senior officers of the Nigeria Police Force [NPF].
Egbetokun’s message was contained in a statement by the Force Public Relations Officer, ACP Muyiwa Adejobi, announcing that the retired Deputy Inspector-General Moses Ambakina Jitoboh and retired Assistant Inspector-General Pastor Bola Longe, have both passed away.
Adejobi stated that Jitoboh, who previously served as the Deputy Inspector-General of Police in the Department of Information & Communications Technology (ICT) at Force Headquarters, died in a brief illness early on Friday, December 27, 2024.
He added that Pastor Bola Longe, formerly the Assistant Inspector-General of Police, Federal Operations at Force Headquarters Abuja, and previously the Commissioner of Police in Nasarawa State, passed on Sunday, December 22, 2024.
“Their contributions to the Nigeria Police Force, dedication to service, and integrity will never be forgotten,” Egbetokun stated.
“The passing of these officers is a great loss, not only to their families but to the entire Nigeria Police Force.”
Extending his condolences on behalf of all officers of the Nigeria Police Force, IGP Egbetokun offered prayers and solace to the families, friends, and colleagues of the late officers, wishing them strength during this difficult time.
“May their souls rest in peace,” he stated.
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