Energy
Minister asks Nigerians to safeguard electricity installations in their areas
Nigerians have been tasked to protect public utilities as the best guarantee of ensuring steady and uninterrupted electricity supply.
Nigerians have been tasked to assume ownership of all electricity installations within their communities, and safeguard them against vandals.
This was disclosed by the Minister of Power, Sale Mamman, on Tuesday.
According to him, everyone should take responsibility for protecting the public utilities, as it is the best guarantee of ensuring steady and uninterrupted electricity supply to their areas.
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He said, “Nigerians should protect the equipment in their respective communities, to guard against sabotage, vandalisation and natural disasters like erosion and bush burning.
The people should raise alarm and report to security officials whenever they see people tampering with power equipment.”
Engr. Sale Mamman stated that it was the desire of the Federal Government under President Muhammadu Buhari to supply electricity to every community in Nigeria, but the efforts were being constrained by the sabotage and wilful damage of electricity installations across the country.
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The Minister said he was greatly saddened by the recent destruction of the power tower supplying electricity to Maiduguri, which had only just been restored by the Transmission Company of Nigeria.
He added, “This act of desperate and wicked damage of public utilities should not be a justifiable means for any agitation.”
Describing power as critical to national development, Mamman stated that the Ministry of Power would continue to work hard to improve and sustain the current success recorded in the power sector under President Buhari.
I AM DEEPLY SADDENED BY THE CONTINUED VANDALIZATION OF POWER INSTALLATIONS IN THE NORTH-EAST; MINISTER OF POWER.
Cc: @NigeriaGov
The Minister of Power, @EngrSMamman has called on Nigerians to assume ownership of the various electricity installations pic.twitter.com/ioy3m21zaK
— Office of the Minister of Power (@PowerMinNigeria) March 30, 2021
Business
President Buhari restores ownership of OML 123, 124, 126 and 137 to NNPC
The President has ordered the restoration of ownership of OML 123, others to NNPC.
President Muhammadu Buhari has approved the restoration of the leases on OMLs 123, 124, 126 and 137 to the Nigeria National Petroleum Corporation (NNPC) which is in a production sharing contract with the Chinese government-0wned, Addax Petroleum.
This is in line with the current administration’s rule of law, fairness and enabling a stable business environment for businesses.
This disclosure is contained in a statement issued by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, through a series of tweet posts on his official Twitter handle on Friday, April 23, 2021.
The President directed the Department of Petroleum Resources (DPR) to retract the letter of revocation of the leases, while also directing NNPC to utilize contractual provisions to resolve issues in line with extant provisions of the Production Sharing Contract arrangement between NNPC and Addax.
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What the Presidential Media Aide is saying in the statement
The statement from Garba Shehu partly reads, ‘’In line with the current administration’s commitment to the rule of law, fairness and enabling a stable business climate for investment, President Muhammadu Buhari has approved the restoration of the leases on OMLs 123, 124, 126 and 137 to NNPC Group which is in production sharing contract with Addax Petroleum, a company wholly owned by Government of the People’s Republic of China on the blocks. The leases belonging to the Federation were revoked on March 30, 2021.
‘’This development reaffirms the commitment of President Buhari to the rule of law and sanctity of contracts. While directing the Department of Petroleum Resources, DPR to retract the letter pf revocation of the leases, the President also directed NNPC to utilize contractual provisions to resolve issues in line with the extant provisions of the Production Sharing Contract arrangement between NNPC and Addax.’’
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Shehu in his statement also said that the restoration of the blocks to NNPC will boost the organisation’s portfolio, thereby making the corporation to, in the long run, boost its crude oil production and in turn increase the revenue it generates to the Federation Account.
In case you missed it
It can be recalled that the Department of Petroleum Resources (DPR), had on March 31, 2021, revoked the 4 assets of Addax Petroleum Exploration Nigeria Limited, namely OMLs 123, 124, 126 and 137 due to the non-development of the assets by the company.
The DPR had earlier said that it has inaugurated a team of experts to evaluate the revoked assets of Addax Petroleum, which was in preparation for the formal handing over to the new operators- Kaztech/Slavic Consortium.
The oil sector regulator also pointed out that the move was in fulfilment of the Federal Government’s commitment to reactivating all moribund oil and gas support facilities across the country.
In line with the current administration’s commitment to the rule of law, fairness & enabling a stable business climate for investment, President @MBuhari has approved the restoration of the leases on OMLs 123, 124, 126 & 137 to @NNPCgroup,…
— Garba Shehu (@GarShehu) April 23, 2021
Business News
NNPC, SEEPCO sign gas development agreement for domestic market
The execution of the deal is to help reduce gas flaring in the country and a show of NNPC’s commitment to facilitating the country’s transformation into a gas-powered economy.
