Business News
Mele Kyari officially takes over as NNPC GMD
After exactly one month that President Muhammadu Buhari appointed [@MKKyari] as the new Group Managing Director of the Nigerian National Petroleum Corporation [@NNPCgroup], the new NNPC boss is formally taking over from the outgoing GMD of NNPC Makanti Baru.
After exactly one month that President Muhammadu Buhari appointed Mr. Mele Kolo Kyari as the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), alongside 7 new Chief Operating Officers, the new NNPC boss has formally taken over the helm of affairs from the former GMD, Makanti Baru.
The Valedictory Service of the outgone NNPC GMD held today at the Amphitheatre of the NNPC Tower in Abuja.
Recall that Kyari’s appointment came as a result of the mandatory retirement of the Makanti Baru, who clocked the retirement age of 60 years on 7th July 2019.
In attendance: Former GMDs L-R: Dr. M.T. John, Chief Odoliyi Lolomari, Chief Festus Marinho (1st @NNPCgroup GMD), Engr. Abubakar Yar'adua, Chief Chambaerlain Oyibo, Engr. Funsho Kupolokun & Dr. Joseph Dawha. 4th & 5th from left is outgoing GMD @DrMKBaru and incoming GMD @MKKyari pic.twitter.com/umzlZs3WKR
— NNPC Group (@NNPCgroup) July 8, 2019
Some of the dignitaries who attended the Valedictory session are the current Governor of Ekiti State, Doctor Kayode Fayemi, the Chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu; the Executive Secretary of Nigerian Extractive Industries Transparency Initiative (NEITI), Dr. Waziri Adio, and others.
Baru speaks on NNPC: While delivering his valedictory speech, Baru stated that NNPC had been restored on the growth path in the three years of his administration.
He said, “My dear colleagues, it is three years since I took over as the 18th GMD of NNPC. Over these eventful 1,099 days, I’ve done my very best to put the Corporation on the path of recovery, then to sustainable growth.
As always, there is a time when it is proper to leave the scene for fresh blood to continue the journey of leading the Corporation. For me, this time is NOW!
When you are young, speed and adrenaline seem to be great. But as you get older and wiser, comfort and peace of mind are not to be despised either. This is called S.O.S.: Slower, Older and Smarter!
I look back with so much pride of what we have achieved together as a family towards moving this great Corporation forward with the Twelve Business Focus Areas (12 BUFA).”
Highlighting some of his achievements, the former NNPC boss emphasized some of the feats he achieved. He said that some of the achievements recorded with his team of officers, include securing the $5 billion areas the Joint Venture through incremental production.
He also stated that NNPC had fully exited the payment of cash-call to ExxonMobil and that the corporation had paid about N198billion as pension arrears.
[ALSO READ: NNPC considering JV funding through the capital market]
The other achievements noted by Baru include:
- three folds increase and stabilized gas supply to the domestic market for power generation and other use;
- the rise of domestic gas supply to 1.7 bscf per day;
- increased and sustained crude oil/gas production to above 2million bopd and gas production of 8,000 MMcfd; and
- securing third-Party financing for the rehabilitation of the four refineries.
Focus on a global standard: While delivering his address after being introduced, the new NNPC boss restates his commitment to putting the corporation among global peers. Meanwhile, Kyari admitted his administration will give zero tolerance to corruption.
“There will be no corruption without discretion. We will work with all stakeholders within the NNPC group to ensure there is no discretion in the system.”
“We will build this company to enable it to compete with its global peers. We are not saying we will not make mistakes along the way, but we will not make deliberate mistakes.”
“We will deliver all our four refineries within the life of President Buhari’s administration. We shall seek strategic partnerships to ensure Nigeria becomes a net exporter of petroleum products.”
Brief Profile of NNPC’s new boss: Mele Kolo Kyari was born in Maiduguri, Borno State on the 8th of January, 1965. He obtained his Secondary School Certificate from Government Community Secondary School, Biu in Borno State between 1977 and 1982. In 1987, he graduated with a Bachelor’s degree in Geology from the University of Maiduguri.
New NNPC Boss, Kolo Kyari, during the hand over session on Monday in Abuja
Achievements: In 2007, Kyari won the GMD Prize for the Overall Best Performance for NNPC Management Development Programme, having transverse the entire value chain of the petroleum industry, with resounding records and performance in all his assignments. He was also awarded the Group Executive Director (GED) award for the best performance in Leadership.
Positions held: Prior to his appointment as the GMD of NNPC, Kyari was Nigeria’s National Representative at the Organisation of the Petroleum Exporting Countries (OPEC). He also doubled as the Group General Manager, Crude Oil Marketing Division of the NNPC. A position he held since 13th May, 2018.
[ALSO READ: 132 companies jostle for NNPC’s Direct Sale and Purchase Term Contract]
Coronavirus
COVID-19 Update in Nigeria
On the 3rd of December 2020, 343 new confirmed cases and 2 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 68,303 confirmed cases.
On the 3rd of December 2020, 343 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 7,101 samples across the country.
To date, 68,303 cases have been confirmed, 64,291 cases have been discharged and 1,179 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 779,708 tests have been carried out as of December 3rd, 2020 compared to 756,237 tests a day earlier.
COVID-19 Case Updates- 3rd December 2020,
- Total Number of Cases – 68,303
- Total Number Discharged – 64,291
- Total Deaths – 1,179
- Total Tests Carried out – 779,708
According to the NCDC, the 343 new cases were reported from 14 states- FCT (123) Lagos (106) Kaduna (72) Nasarawa (14) Rivers(5), Bauchi (4), Imo (4), Ogun (4), Ekiti (3) Edo (2), Oyo (2), Plateau (2) Akwa Ibom (1) and Kano (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 23,545, followed by Abuja (6,991), Plateau (3,904), Oyo (3,730), Kaduna (3,245), Rivers (3,001), Edo (2,705), Ogun (2,237), Delta (1,824), Kano (1,799), Ondo (1,728), Enugu (1,332), Kwara (1,110), Ebonyi (1,055), Katsina (1,030), Osun (947), Gombe (938). Abia (926), Bauchi (778), and Borno (745).
Imo State has recorded 681 cases, Benue (496), Nasarawa (493), Bayelsa (456), Ekiti (377), Akwa Ibom (340), Jigawa (331), Niger (298), Anambra (285), Adamawa (261), Sokoto (166), Taraba (163), Yobe (100), Kebbi (93), Cross River (90), Zamfara (79), while Kogi state has recorded 5 cases only.
READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous
Energy
Engineer Sanusi Garba assumes office as Chairman of NERC
The new NERC boss has assumed office today in an investiture event witnessed by other Commissioners of the Commission.
Engineer Sanusi Garba, today, December 3, 2020, formally assumed office as the Chairman of the Nigerian Electricity Regulatory Commission (NERC).
This is according to the statement issued by the media team of the NERC via the official Twitter handle of the Commission.
Professor Momoh hands over to Engineer Sanusi Garba
Professor James Adeche Momoh has handed over to Engineer Sanusi Garba in a ceremony witnessed by Commissioners of the Nigerian Electricity Regulatory Commission. Engineer Sanusi thanked Professor Momoh @NERCNG
— NERC Nigeria (@NERCNG) December 3, 2020
Engineer Garba whose appointment was confirmed by the Nigerian Senate on Tuesday will be replacing Professor James Momoh, the outgoing chairman of the Commission.
Speaking at the handover ceremony today, the New Chairman of the Commission recognized the efforts and the hard work of Prof. Momoh and thanked the outgoing chairman for his contributions to the development of the Commission and the sector in general.
However, Professor Momoh on his part pledged his continuous support to the Commission and thanked President Muhammadu Buhari for the opportunity to serve the country.
What you should know
- The new Chairman of Nigerian Electricity Regulatory Commission (NERC), Engineer Sanusi Garba is a seasoned professional in the Nigerian Energy Supply Industry (NESI), and also a top officer in the Commission.
- Prior to his nomination as the Chairman of NERC, Garba served as the Vice Chairman of NERC, under the leadership of Prof. Momoh. He also served as the Chief Executive of Katsina Steel Rolling Co. Ltd and the Director (Power) in the Federal Ministry of Power with responsibility for the Generation, Transmission and Distribution aspects of the electricity industry.
- He also served as Executive Director (Generation) at the Niger Delta Power Holding Co. Ltd during which he provided technical and commercial leadership for the efficient operation of seven (7) NIPP thermal power plants.
- Engr Garba, who is a seasoned professional has served on many Federal Government Committees including the Presidential Committee on Power Sector Reform (2007/8) and the Presidential Task Force on Power (2009/10).
ENDSARS
#EndSARS: Sanwo-Olu gifts families of slain police officers N10 million each
Governor Sanwo-Olu has compensated the families of slain police officers with the sum of N10 million each.
The Executive Governor of Lagos State, Babajide Sanwo-Olu has brought respite to the families of police officers killed during the violence witnessed in the aftermath of the #EndSARS protests.
According to the disclosure on the Twitter page of the Lagos State Government, the families were handed a cheque of N10 million each and the children of the slain officers awarded scholarships by the government.
Governor @jidesanwoolu handing over a cheque of 10 million naira each to the families of police officers who lost their lives during the unrest that followed the EndSARS protest and awarding scholarship to their children. @followlsstf @ceolsstf @LagosPoliceng#LASG #SecureLagos pic.twitter.com/XdjPPRsRf7
— The Lagos State Govt (@followlasg) December 3, 2020
What they are saying: Commenting on the recent development, a tweet by the Lagos State Government read thus: “Governor @jidesanwoolu handing over a cheque of 10 million naira each to the families of police officers who lost their lives during the unrest that followed the EndSARS protest and awarding scholarship to their children.’’
Why this matters: The recent effort by the Governor is in fulfillment of the promise he had earlier made to compensate affected victims of the post-EndSARS protest which led to the loss of lives and valuable properties both in the state and the country at large.
The compensation will be viewed by serving officers as a motivation, aimed at promoting patriotism, loyalty, commitment and dedication to national service.
What you should know
COVID-19 Update in Nigeria
Mutual Benefits Assurance Plc to raise N4.8 billion through private placement
Engineer Sanusi Garba assumes office as Chairman of NERC
CBN latest policy on diaspora remittance kicks off tomorrow
Glo subscribers to enjoy 10% bonus airtime
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦470/$1
Camey & Rock executes N4.3 billion worth of share purchase agreement with Resort Savings and Loans
Nigeria owes foreign airlines $53 million as proceeds from ticket sales – IATA
$1.3 billion Malabu oil field sale was perfect – Dan Etete
