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Economic downturn: We’ll not abandon Nigeria, Says ExxonMobil

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By Kayode Sanni-Arewa

The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.

Harris, who disclosed this at a meeting with the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, in Abuja, stated that ExxonMobil is currently carrying out new investments in the oil and gas sector in Nigeria.

The Special Assistant on Media and Communications to the petroleum minister, Nneamaka Okafor, disclosed this in a statement issued in Abuja on Monday.

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“During the meeting, Mr Harris hinted at significant new investments that ExxonMobil is injecting into Nigeria’s energy sector.

“He expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government, assuring the government that the oil giant is not planning to leave Nigeria,” the statement read.

It further quoted the ExxonMobil boss as saying, “We are excited about the prospects these new investments bring. Our partnership with the Nigerian government is crucial for sustainable growth, and we look forward to continuing our collaboration as we have no plan to leave.

On his part, Lokpobiri reaffirmed the Federal Government’s commitment to enhancing production and fostering a conducive environment for investors in the energy sector.

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He highlighted the ministry’s focus on creating collaborations and sharing innovative ideas with international oil companies, stating that “we are dedicated to ramping up production and ensuring a supportive environment for all investors by doing everything possible to maintain investor confidence in our country.”

Lokpobiri commended the ExxonMobil team for their commitment in the Nigerian oil and gas sector, noting that it aligned perfectly with the nation’s objectives.

“ExxonMobil’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” the minister stated.

The statement added that the discussions by both parties also touched on the ministry’s support for international and independent oil operators.

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Lokpobiri assured Harris of the government’s support, emphasising the importance of creating a thriving environment for all stakeholders.

We fully support ExxonMobil and other lOCs, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector,” he stated.

On May 31, 2024, The reported that Nigeria might add 480,000 barrels to its daily crude oil output as the Nigerian National Petroleum Company Limited and ExxonMobil took a step towards resolving the disagreement surrounding the sale of the latter’s asset to Seplat Energy.

The report stated that NNPC confirmed it had signed a settlement agreement with ExxonMobil companies in Nigeria over the proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.

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This was after President Bola Tinubu announced his intervention in the debacle between NNPC and ExxonMobil hindering the sale of the assets to Seplat.

Lokpobiri said recently that Nigeria had lost about $30bn in the past two and a half years as a result of the unsuccessful divestment.

The minister expressed concerns that Nigeria was losing about 480,000 barrels of crude oil per day due to the Seplat/ExxonMobil crisis.

He said the asset was producing about 600,000bpd until the crisis began in 2022, saying the nation was losing millions of dollars daily.

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The reported earlier that ExxonMobil and Seplat Energy had in 2022 announced a $1.6bn sales agreement deal that would see Seplat purchase ExxonMobil’s complete shares in the NNPC.

However, just when all hopes were high for the completion of the deal, a letter dated May 16, 2022, by the Nigerian Upstream Petroleum Regulatory Commission to ExxonMobil, stated that the deal could no longer hold because NNPC had exercised its right of pre-emption first refusal on the assets.

Right of pre-emption is a legal right to parties in a joint venture to be the first to be considered for any planned sale or takeover of assets in the JVs if either party chooses to trade them off.

According to reports, NNPC objected to the sale of ExxonMobil’s equity to Seplat and insisted on exercising its first refusal right after which the company reportedly made an offer above $1.6bn to ExxonMobil

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But after about two years of litigation, there seems to be an end in sight to the crisis.

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SAD! Woman reportedly d!3s in Osun building c0llapse

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By Kayode Sanni-Arewa

A resident of Ifetedo in Osun State, simply identified as Idowu, had reportedly died in an incident of collapse building that occurred in the town.

The collapsed structure was said to be a dilapidated building that suddenly caved in and killed the woman.

A resident of Ifetedo, simply identified as Ogunyemi, while speaking to The PUNCH on Thursday, said operatives of the Nigeria Security and Civil Defence Corps, responding to a distress call, were at the scene of the incident.

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Some NSCDC operatives rushed to the scene after they were informed of the incident. They were joined by some other people in the community.

Idowu was the only person in the building when the incident happened. She was brought out dead from the rubble.

“The incident caused panic in Omiloode Area, where the building is located. The building that collapsed is a dilapidated structure,” Ogunyemi said.

Osun NSCDC Public Relations Officer, Kehind Adeleke, when contacted confirmed the incident, adding that the scene was immediately cordoned off by security men.

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“An abandoned dilapidated building located along Omiloode Street, Ifetedo collapsed and killed one Mrs Idowu, who was said to be around the structure when the incident happened.

“The tragic incident occurred at about 17:30 hours on Tuesday.

“Officers and men of NSCDC Ife South Division, upon getting information rushed to the scene of the incident for rescue operation. But unfortunately, the woman had passed on. She was brought out of the rubble dead. The site was immediately cordoned off,” Adeleke said.

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Yahaya Bello: CNPP Hammers EFCC Over Poor Handling of His Alleged Money Laundering Case

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By Kayode Sanni-Arewa

The Conference of Nigeria Political Parties (CNPP) has hammered the Economic and Financial Crimes Commission’s (EFCC) handling of allegations against ex-Kogi Governor, Yahaya Adoza Bello, accusing the agency of embarrassing the nation and compromising the anti-corruption campaign.

“The EFCC’s actions have not only brought embarrassment to our nation but have also fueled the perception that the anti-corruption campaign has been compromised and politicized,” stated Comrade James Ezema, CNPP’s Deputy National Publicity Secretary.

The CNPP criticized the EFCC’s methods, particularly the “gestapo-style raid” on the Kogi State Governor’s lodge in Abuja, after Bello voluntarily surrendered. This approach has led many Nigerians to question the EFCC’s true intentions

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Bello faces 19 counts of money laundering, totaling N80.2 billion, alongside three other suspects. The EFCC had previously attempted to arrest him on April 17, 2024, ahead of his scheduled arraignment on April 18, 2024.

The CNPP demanded that the EFCC cease its “wanton dramatization” and redirect efforts towards genuine anti-corruption initiatives, providing clear explanations for its contradictory actions. The CNPP stands in solidarity with Nigerians advocating for transparency and fairness in EFCC operations.

“We stand in solidarity with Nigerians who seek transparency and fairness in EFCC’s operations,” the CNPP stated, highlighting Bello’s willingness to cooperate, demonstrated by his voluntary surrender and ongoing legal representation.

The CNPP urges the EFCC to adhere to the rule of law, rather than political expediency or personal vendettas, and restore its integrity by focusing on the genuine fight against corruption.

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“The actions of the EFCC must be guided by the rule of law, rather than political expediency or personal vendettas,” the CNPP emphasized.

As the situation unfolds, the CNPP stated they will continue to monitor developments closely and demand accountability from the EFCC.

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Idinye Slams Intimidation Of PDP Leaders As Edo Prepares For Guber Poll

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A two time gubernatorial apsirant in Edo state and chieftain of the Peoples Democratic Party (PDP) High Chief Jacob Idinye has strongly condemned the clampdown on the leaders of his party (PDP) as the state prepares for guber election on Saturday, September 21, 2024 which is less than 48 hours.

High Chief Idinye on Tuesday, September 19, 2024 made the remark at the Benin airport in a chat with some journalists, urging the security agencies to halt the indiscriminate arrest and allow peace to reign and make the election to be free, fair, transparent and credible.

He noted that no amount of intimidation, arrest, victimization and harassment would make the APC win the governorship election, stressing that the candidate of the PDP, Asue Ighodalo is the best man for the Edo State top job.

The PDP chieftain added that the unlawful arrest was the handiwork of the All Progressives Congress even as he called on the heads of the Military, NSCDC, Police and DSS to be neutral, unbiased and act within the ambit of the law.

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He said, “Many PDP leaders, including the Chairman of Esan West Local Government Area, Collins Aigbogun, were being kept in dungeons on the orders of the APC. Similarly on Thursday, in Etsako East Local Government Secretariat of our State, men of the DSS invaded the facility and made arrest of high profile members of our party. As I speak to you youths from the Etsako East are on rampage over the intimidation and harramennt meted on Engr D Dee ilugbekhai and many others.

“We also have on record from the PDP situation room that APC Branch of the Nigerian Police have arrested another popular politician simply known as O3 in Okpella.

“I also heard from good authority that angry protesters besieged the Palace of the Okumagbe of Uwanno Kingdom in Estako Local Government Area of Edo State, demanding the immediate release of PDP leaders who were arrested across the council area. The Chairman of Etsako local Government Area, Princess Benedicta Attoh, who also reacted to the incident, called on the Inspector-General of Police, the Chief of Defence Staff and other security agencies to abide by their promises of remaining neutral in the Edo Governorship election. She expressed worry over the arrest of PDP leaders across the council area. This is a serious matter and we expect APC to protect our democracy not tearing it apart”

He continued, “Let the APC explain to us where our members and leaders are being taken to. They should also explain to the world why they not been charged in court since their arrest? Instead, the APC has been boasting of their plans to attack, intimidate, and harass PDP members and supporters.” Idinye demanded.

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Idinye however called on the President of Nigeria to nip the ugly development in the bud to allow peace to triumph:

“It is our expectation that President Bola Tinubu will immediately order DSS personnel out of the Council headquarters to avoid the destruction of life and property in Etsako East Local Government, we dont want a situation where people will be forced to resort to self-defence by defending their fundamental human rights to vote in the Edo State Governorship election. We are known to be law abiding, therefore the government of the day must create an enabling environment to sustain that excellent virtues that our people are known for.

“Members of the APC are obviously intimated by the 8 years of excellent works of Governor Godwin Obaseki. We can all see the progress he made in infrastructure, human capital development, security, education of our children and his hands can also be felt in his technology-driven operations within the state’s civil service. Edo State public and civil service is number one in Nigeria. Obaseki has done well and I urge voters to make the right decision in the Saturday election to maintain this momentum and vote PDP.

“Electing leaders who lack experience and ideas could be disastrous for Edo state. Our candidate, Asue Ighodalo is a capable leader, who would continue Obaseki’s work, I appeal to voters to defend their votes to ensure Edo’s continued development. Asue Ighodalo is the best man for the job and by God’s grace he will record a landslide victory to the shame of opposition especially APC and LP.”

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