News

Oil Production: We Can Reach 3m Barrels Per Day – NNPCL’s Bold Claim

Published

3 months ago

September 28, 2024

By Gloria Ikibah

The Nigerian National Petroleum Company Limited (NNPCL) has said that Nigeria could potentially raise its daily crude oil production from the current 1.7 million barrels to 3 million barrels.

The Chief Corporate Communications Officer (CCCO) of NNPCL, Olufemi Soneye, disclosed this at a Stakeholders Engagement Session with journalists covering the National Assembly in Abuja on Saturday.

According to Soneye, with the right cooperation from all involved parties, the goal of producing 3 million barrels daily is achievable.

“This includes collaboration between security agencies, both government and private, oil companies, and host communities,” he emphasized.

Soneye noted that there is already political support to meet this target, citing President Bola Tinubu’s clear instructions to security agencies to tackle oil theft and pipeline vandalism, issues that have plagued the industry, and with these efforts, production has increased from 1.4 million barrels to 1.7 million barrels per day.

He stressed the importance of security in achieving this ambitious goal, highlighting that oil theft and pipeline vandalism have long hampered Nigeria’s oil production capacity.

“With expected synergy from all the relevant stakeholders on the war against oil theft and pipeline vandalism, an enabling environment would be created to reach optimal production levels of 2.5 to 3 million barrels per day,” Soneye added.

The CCCO reflected on a past period when oil production dropped to as low as 900,000 barrels per day due to widespread oil theft and vandalism, a situation he described as “troubling.” However, improved security measures, including the involvement of private security firms and increased military efforts, have helped address these issues. “The intensity of the war against oil theft has eased our fears,” Soneye said.

But despite this progress, oil theft remains a significant problem as the Deputy Manager of NNPC’s Command and Control Centre, Murtala Muhammad, presented data showing that in the last six months, over 8,000 illegal refineries and 5,800 illegal pipeline connections have been detected and destroyed. These illegal activities have drained Nigeria’s economy of essential revenue.

Muhammad identified Bayelsa, Rivers, Imo, and Abia as states where oil theft is most rampant, he explained that criminal groups have taken advantage of Nigeria’s oil infrastructure, but efforts to dismantle illegal refineries and stop pipeline vandalism are ongoing.

The session also included a presentation by Professor Taiye Obateru, who urged journalists to balance reporting with nation-building.

In his paper, titled “Balancing Reporting and Nation Building: The Role of National Assembly Press Corps,” he stressed the need for fairness and a focus on national interests when reporting on sensitive issues like oil production and security.

The forum’s speakers agreed that while achieving the 3 million barrels per day target is challenging, it is possible. With strong political backing, stakeholder cooperation, and ongoing efforts to combat oil theft, Nigeria can significantly boost its oil production. The recent rise in daily output from 1.4 million to 1.7 million barrels shows progress, but more work is needed.

As Soneye and others noted, the fight against oil theft remains a top priority, while the destruction of illegal refineries and pipelines is a step forward, constant vigilance is essential to prevent future losses.

With the right security measures and commitment from all involved, Nigeria’s oil industry has the potential to thrive and bring significant economic benefits to the country and its citizens.

News

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

Published

22 minutes ago

December 20, 2024

Kayode Sanni-Arewa

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.

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.

“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.”

News

Reps approve extension of 2024 budget implementation to June next year

Published

27 minutes ago

December 20, 2024

Kayode Sanni-Arewa

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.

News

ALGON condemns suspension of Edo LG chairmen, councillors

Published

29 minutes ago

December 20, 2024

Kayode Sanni-Arewa

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.

“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.

“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.