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Why Tinubu Signed Executive Orders On Gas, Energy – Aide

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The Special Adviser to the President on Energy, Mrs. Olu Verheijen, has given reasons why President Bola Ahmed Tinubu signed Executive Orders to transform the gas and energy sectors of the economy, submitting that gas remains the best option for Nigeria’s attainment of energy stability.

The presidential aide, who addressed the media in Abuja on Friday, pointed out that the steps taken by the president was to make gas readily available to Nigerians at affordable rates for all purposes and reduce dependence on petrol and diesel.

Mrs. Verheijen said: “Our ambitions to accelerate our economic growth and diversify the economy for the benefit of all Nigerians require timely, credible, clear and consistent policy. We are faced with a revenue crisis which is impacting all Nigerians.

To urgently address this, President Bola Tinubu is actively seeking ways to grow revenue and forex to stabilize our economy and currency. The oil and gas sector is critical to our ability to do so. However, our current oil and gas production and investment levels falls significantly short of our potential.

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“Since 2016, Nigeria has only accounted for only four percent four percent of Africa’s total oil and gas investments, despite possessing 38 percent of the continent’s hydrocarbon reserves. A society is not rich because of its resources but because of what it does with those resources.

President Bola Ahmed Tinubu is determined to reverse this trend and take decisive steps to ensure to a conducive business climate and reposition Nigeria as a preferred investment destination for oil and gas sector,” she explained.

The energy adviser said that it was in a bid to reverse the negative tendencies in the sector that the president issued a directive to streamline and clarify the scope of two regulators in the petroleum sectors and to provide certainty and create a conducive business environment for the players.

She pointed out that consequent upon the directive, the TNP pipeline, which had been repeatedly vandalized, is now enjoying improved uptime and doubled its availability, resulting in increased liquids of over 200,000 barrels/day being transported over the last six months and increasing the availability of NLNG Trains 1-6 from 57 percent in 2023 to 70 percent in Q1 2024.

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The adviser said the president had also introduced fiscal incentives to deepen Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) penetration all aimed at easing the impact of fuel subsidies on transportation cost, enabling the displacement of PMS/Diesel and contributing to stabilising the price of cooking gas in the market and support the transition to clean cooking.

The presidential aide explained that the Fiscal Incentives for Non-Associated Gas (NAG), Midstream and Deepwater Oil and Gas Developments is aimed at facilitating the monetization of Nigeria’s extensive oil and gas resources.

She said: “For Gas, 76 percent of our gas reserves, remain undeveloped. This explains why, despite possessing one of the largest gas reserves globally, we lack sufficient gas to meet our domestic needs for industry, for power and for cooking. The fiscal incentives introduced will attract the much-needed investments to enhance energy security, catalyze economic activity, attract essential foreign exchange, and promote job creation.

“The President has issued directives to reduce contracting timelines and project delivery. Benchmarking and analysis revealed that the contracting cycle takes up to 36 months. This Directive should have the effect of compressing this cycle to less than 6 months in line with global averages. This will expedite the delivery of oil and gas products to the market and enhance overall value for the country.

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“Local Content Practice Reform: This Directive seeks to ensure that local content requirements are implemented in a manner that does not impede investments or the cost competitiveness of oil and gas projects. This Directive aims to reduce the cost premium of operating in Nigeria, presently averaging at 40 percent. We anticipate significant benefits from this reform, including the development of local companies’ capacity, thereby generating additional business opportunities, job creation and boosting economic growth.

On how the new policies would be implemented for effective results, the presidential aide, explained that the assignments had been shared among different levels of government agencies to be followed up by her office.

Under the arrangement, she said, the Minister of Finance/Co-coordinating Minister of the Economy will develop and propose amendments to introduce fiscal incentives for deep-water developments into legislation while the Federal Inland Revenue Service (FIRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will issue guidelines on the implementation of the fiscal incentives.

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Simon Ekpa: FG’s attempt to extradite self acclimated freedom fighter may hit brickwall

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The Federal Government’s attempt to extradite pro-Biafra agitator Simon Ekpa, from Finland to face terrorism charges in Nigeria may hit brickwall.

According to The Africa Report, this is due to Finnish legal restrictions.

The self-declared prime minister of the Biafra Government In Exile (BRIGE) was arrested alongside four others by Finland’s National Bureau of Investigation (NBI) over terrorism related activities.

The Finnish police said they suspect that Mr Ekpa “has contributed to violence and crimes against civilians in South-eastern Nigeria.”

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Nigeria’s defence chief, General Christopher Musa while reacting to the arrest, said the country will proceed to push for Ekpa’s extradition to Nigeria.

While Finland has confirmed Ekpa’s arrest, the country made it clear that, according to Finnish law, the country will not extradite its nationals outside the European Union or Nordic countries.

This further complicates Nigeria’s request since there is no extradition treaty between the two countries.

Even though Finland and Nigeria are in contact, the legal framework prohibits the transfer of citizens for trial in non-EU countries.

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According to reports, everything has to be done according to Finnish legislation, which has very strong protections for freedom of speech

“The issue of an extradition treaty is very fundamental. If there is no extradition treaty between the two countries, there can be no legal basis or justification for extraditing Ekpa,” a Lagos-based lawyer Festus Ogun said.

Vince Onyekwelu, former British Police Officer and National Security Risk Strategist said the chances of Ekpa’s extradition to Nigeria are also slim.

Onyekwelu said while appearing on Arise TV:

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“Professionally speaking, the Finnish Authorities have done their due diligence and have every right to arrest Simon Ekpa. It is left for the court to look into the request by the Chief of Defence Staff to extradite Ekpa to Nigeria. However, with the absence of an extradition treaty between Nigeria and Finland, Ekpa’s extradition will seem unlikely.”

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Minimum wage: Yobe Gov approves N70k for workers

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Yobe State Governor, Hon. Mai Mala Buni has approved the payment of N70,000 minimum wage to civil servants in the state effective December 2024.

This is contained in a memo signed by the governor, following recommendations by the committee on Minimum wage constituted by the state government.

The committee had recommended for a reconciliation of local government finances to ensure a hitch free transition process of the local government councils from the existing salary structure to the new minimum wage.

The reconciliation process which is nearing completion is expected to be concluded soon for approval, and quick enrolment of the local government employees into the new minimum wage salary structure.

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The committee had recommended for a reconciliation of local government finances to ensure a hitch free transition process of the local government councils from the existing salary structure to the new minimum wage.

The reconciliation process which is nearing completion is expected to be concluded soon for approval, and quick enrolment of the local government employees into the new minimum wage salary structure.

According to a statement signed by the spokesman to the governor, Mamman Mohammed, the Government expects civil servants in the state to reciprocate the gesture by putting in their best to ensure effective and efficient service delivery

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Retired 85-year-old Col bags P.hd

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A retired Colonel of the Nigerian Army, Bolaji Titilola Onafowokan, aged 85, is among the first set of doctoral degree students produced by the Tai Solarin University of Education, TASUED, Ijagun, Ijebu Ode, Ogun State.

The Vice Chancellor, Prof. Oluwole Banjo, disclosed this at the weekend, while briefing the press on activities to mark the 16th convocation ceremony of the university.

He said the first set of PhD holders to be produced by the institution totalled 67.

“I am happy to inform you that the university will, at this 16th convocation ceremony, graduate its first set of doctoral degree holders.

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“They are 67 in number and the list included a retired Army Colonel, Bolaji Titilola Onafowokan, who is 85 years old. And he is getting his PhD in Educational Technology.

“I salute his courage and doggedness to pursue this dream of his. Even younger ones shy away from this kind of task.

27 First Class
“Also, out of the 4,140 graduating students, 27 have first class. We are also graduating 4 M.Phil, 275 Master’s degree and our best graduating student is Adedeji A. Adedamola with CGPA of 4.91.

“We are also giving honorary degrees to four distinguished Nigerians namely: Dr Taiwo Olayinka Afolabi, Prince Oluyemisi Adedoyin Shyllon, Otunba Jaiyeola Wasiu and Engineer Jubril Dotun Sanusi,” he stated.

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Prof. Banjo, who is winding down his tenure as the VC of the first university of education in Nigeria, added that some projects would be inaugurated by the Visitor, Governor Dapo Abiodun.
“We are happy to say that within the last one year, we have done some projects to add to what we have on ground. We have expanded the Medical Centre and the fund used was from our internally generated revenue.

“We are also weaning ourselves of epileptic power supply as we have our own Independent Power Project. It is 800 kva which can be scaled up.

“Even as it is, it is enough for our needs. It is less expensive than what we pay monthly as electricity bills to the power firm serving this area,” he said.

The VC also disclosed that the Minister of Communication, Innovation and Digital Economy, Dr Bosun Tijani, would deliver the convocation lecture titled, “From classroom to cloud: Leveraging digital literacy for national development.”

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