South-East governors announced on Tuesday that they will interface with the federal government for the release of Mazi Nnamdi Kanu.
This formed part of the communiqué issued after a meeting of the Forum in Enugu.
At the meeting, which also had other stakeholders in attendance, were governors Hope Uzodinma, Dr. Alex Otti, Prof. Chukwuma Soludo, Rt. Hon. Francis Nwifuru of Imo, Abia, Anambra and Ebonyi states, respectively, as well as the host, Governor Peter Mbah of Enugu State.
The move comes after Kanu, who is the leader of the Indigenous People of Biafra, IPOB, expressed willingness to get the Nigerian Government to agree to an out-of-court-settlement.
On June 19, 2024, Kanu who is facing trial charges bordering on terrorism had through his lawyer, Aloy Ejimakor informed the Federal High Court in Abuja of his intentions to seek reconciliation with the Federal Government.
Ejimakor had informed the court that he had discussed the out-of-court settlement with the counsel of the Federal Government, Adegboyega Awomolo.
However, Awomolo, who told the court that he had no instruction of his client to embark on any negotiations with the defendant, said: “I told him to go to the Attorney-General of the Federation, AGF, who has the power. If he is interested in negotiating he should go there, his office is just here.”
But, Just Binta Nyako observed that the court has no problem if the parties want to discuss negotiation, urging Kanu to approach the AGF who is the proper person to negotiate with.
Similarly, about 50 members of the House of Representatives from different parts of Nigeria and political parties known as concerned federal lawmakers for Peace and Security in the South East have appealed to President Bola Tinubu to invoke section 174 of the constitution of Nigeria, 1999 (as amended) and section 107(1) of Administration of Criminal Justice Act, 2015, Kanu’s release.
The lawmakers appealed to President Tinubu to commence a presidential peace initiative to address all issues and challenges bedevilling the southeast region of Nigeria. These were contained in a 3 page letter signed by the lawmakers, dated June 19, 2024 and addressed to Mr President.
Presidential candidate of Labour Party in the 2023 election, Peter Obi has also backed calls for Kanu’s release, noting that it would foster peace.
Giving his views on the continued detention of Kanu, Obi said: “I don’t see any reason for his continued detention, especially as the courts have granted him bail. Government must obey the court.
“Rule of law is an intricate asset that we must cherish and live with. I use this opportunity to plead with the government to ensure that all those who are in similar conditions are released and discussed with. We are in a democracy and we should not be doing things that are arbitrary and not within the law.”
Kanu should sign bond of peace – Lawyer, Idam
On his part, activist lawyer, Madubuachi Idam described the move by the IPOB leader to seek an out-of-court settlement with the Nigerian Government as the right move and not cowardice.
Idam stressed that such a move would avail Kanu the opportunity to voice out his grievances to the Nigerian Government and table his demands at the negotiation table.
Speaking with DAILY POST, the constitutional lawyer said: “Asking for an out-of-court settlement as the one being asked by Nnamdi Kanu is not an act of cowardice neither is it a sign of weakness.
“Kanu is not at war with the Nigerian state, he has no problem with the Nigerian state. Kanu is agitating to be free from Nigeria. It should not be misconstrued that he’s afraid of the Nigerian state.
“Kanu opting for out-of-court settlement is the right thing to do, it’s an opportunity to inform the state and explain his agitation.
“It’s an opportunity to vent his grievance and table his demands before the state if it will be met on a negotiation table without the need for him to continue the agitation.
“For me, it’s the right step he has taken. It’s well thought and prudent for him to have toed that line and I encourage the Nigerian state to accept that application.
“Kanu is a citizen as far as Nigeria has not broken up, and when a citizen who controls a lot of people is making a demand, he must be listened to. His continued detention is not in the interest of anybody.
“Having said that, the current Attorney General of the Federation is a thorough lawyer who understands what it means to hold the state together. He understands that negotiations with the defendant in accordance with the Federal High Court rules are encouraged by law.”
The constitutional lawyer noted that Kanu should be made to sign a bond that part of the settlement would include preaching peace if released.
He stressed that the Biafra agitator should not be seen as an enemy of the state.
Idam added: “Kanu’s continued detention serves no purpose, it’s using a sledgehammer to kill an ant, it’s needless and unwarranted.
“If Kanu was tried by the Nigerian government the first time he was arrested in 2017, this tension would have been averted. The state popularized Kanu’s issue, he’s only asking to be free, let my people go.
“He should not be misconstrued as an enemy of the state. Kanu’s release will douse the criminal activities in the Southeast. What will they be agitating?
“Kanu should be encouraged to sign a bond that he will preach peace if released and I will encourage the state to toll the line. He had said severally that people should stop killings in the Southeast, he had even preached it in the open court that those killing are enemies of the Southeast.
“If his agitation has nothing to do with killing people and insecurity, so why should anybody be afraid that if he’s released, insecurity will continue?
“Kanu has said it by himself and I can tell you that if Kanu is released today, he will stand by his words and that will be more beneficial than having him in detention.”
Ohanaeze’s stance on out-of-court settlement
The National Public Secretary of Ohanaeze, Alex Ogbonnia, said a political solution is key, stressing that Kanu’s release would quell insecurity in the Southeast.
Ogbonia noted that the Biafra agitation was a fundamental issue and beyond Kanu.
“The issue of Nnamdi Kanu demands a political solution. The kinetic approach in the Southeast that has created unnecessary tension is not the solution to the problem.
“The Nigerian government should look into the cause because Kanu represents what’s happening in the Southeast of Nigeria. For example, the marginalization of the Southeasterners in the 2023 elections where there was so much shenanigan.
“Nnamdi Kanu represents all these agitations in the Southeast, so what he’s saying is that it’s either you treat us equitably in all fairness or you allow us to go; and it’s a simple message.
“Ohanaeze Ndigbo is saying political solution that requires non-kinetic approach, there are some kind of statement from the government that will lead to celebration galore in the Southeast
“Releasing Kanu will surely quell the insecurity in the Southeast and the Monday sit-at-home will stop. The agitation for Biafra is no longer about Kanu, it’s very fundamental; the agitation is a reaction to stimulus,” he told DAILY POST.
Court should be allowed to decide Kanu’s fate – Arewa Youths
Arewa Youth Consultative Forum, AYCF, thinks otherwise.
The group is of the opinion that the court and not the Nigerian Government should be allowed to decide Kanu’s fate based on proven evidence.
National President of AYCF, Yerima Shettima said the IPOB leader should be made to face the “music” of his action if found guilty by the court or released if proven innocent.
Speaking with DAILY POST, Shettima said: “It’s within the government’s confines to look at it, if they want to settle out-of-court or they want the court to continue.
“For me, I would have been comfortable if the court decided his fate at the end of the day based on what is before the court, they should do the needful.
“Kanu should face the music if he’s found wanting or be allowed to go if proven innocent. His punishment should serve as a deterrent to those who think that they can disobey the law and take impunity as a right either deliberately or ignorantly.
“However, if the government decides to settle out-of-court then so be it but at least, we all know now that nobody can do anything and get away with it.”
Nigerian should amend constitution to make room for self-determination
Shettima also urged the Nigerian government to amend the country’s constitution to allow for self-determination.
According to the AYCF National President, people should be allowed to decide if they want to become Biafra or remain as Nigerians.
“The proposed settlement is within the law and it’s for the government to deem it fit, necessary if that is what they want.
“Some of us are products of struggles and I can tell you that you can agitate for whatever you want from religion to tribe but when it becomes critical that somebody has to lose his life, that is no longer an agitation; it’s something else. And this has been our worry and fear.
“The right to self-determination is guaranteed under international law and Nigeria is a signatory to that agreement, unfortunately, we signed a charter but locally our constitution does not reflect it, self-determination is alien to our constitution.
“At the same time, a referendum is not in our constitution. These are areas I feel if the government is sincere we should be able to amend the laws to reflect these two key issues.
“If you sign an agreement that you believe in self-determination by the international standard, locally it should reflect it and that is why today we have an issue where there is no way of exit in the country.
“Somebody can’t wake up and say we should divide corporately, it’s not reflected in our constitution. They should amend the constitution so that you can’t force people to stay with you, there should be an exit through referendum,” he stated.
Kanu, Ekpa have no control over Biafra agitation, criminals have taken over struggle
Shettima also observed that Kanu and the self-acclaimed Biafra Prime Minister, Simon Ekpa have lost control over the agitation.
“They say it’s easier to destroy than to build; when they started this agitation, they never envisaged that they would be consumed.
“Even if you release Kanu and bring Ekpa to beg for pardon, they can’t control this madness anymore because criminals have cashed into it in the name of agitation.
“How does agitation become kidnapping, looting, robbery, killing innocent people? It’s not done anywhere.
“This is a criminal act and they should be dealt with as criminals. Whether you release Kanu or not, he has no control because if he did, with all he has been saying, killing would have subsided.
“Can you say in all honesty that these criminals in the Southeast are listening to what he’s saying? They are not.
“They engage in all sorts of criminality in the name of Biafra struggle, sit-at-home and all sorts.
“I don’t think Kanu will be safe if released today, going by what we are seeing. It has become a criminal activity and all of us must come out to condemn this act,” Shettima cautioned.
The Naira has continued its depreciation streak against the dollar in the foreign exchange market despite the Central Bank of Nigeria’s policy interventions.
FMDQ data showed that the Naira slightly depreciated to N1509.45 against the dollar on Tuesday from N1508.99 traded on Monday.
This represents a marginally N0.46 loss compared to the N1508.99 per dollar it traded on Monday.
Meanwhile, at the parallel market, the Naira traded flat against the dollar at N1515 on Tuesday.
This is as the foreign exchange transactions turnover at the official FX market stood at $213.31 million on Tuesday.
The development comes after the Central Bank of Nigeria in a circular signed by its acting Director of Currency Operations Department, Solaja Olayemi warned banks and licensed Bureau De Change operators against the rejection of lower or old denomination of Dollar notes.
Minister of Power, Adebayo Adelabu has revealed that in 2023, Nigerians spent a combined sum of N16.5 trillion on purchasing diesel, petrol, and generators for power generation.
Recall that the power sector, comprising electricity generation, transmission, and distribution companies, reported a total revenue of N1 trillion last year.
This is despite power consumers in the informal sector spending over N16 trillion, according to the Power Minister.
Adelabu made the claim during the 2024 Nigeria Oil and Gas conference in Abuja, adding that customers in Band A category of electricity consumption can expect a continuous supply of electricity for up to 24 hours.
“If you know how much our people spend buying diesel, petrol, generators, and servicing them in a year; the last study we had in 2023, a total of N16.5tn was spent on this (power) generation.
“Even a number of the industries are off the grid. They now have their captive power between their environments with gas-powered generators.
“So spendings in this sector out of the grid is close to N20tn. And let me blow your mind, the revenue for the entire industry, the grid, I mean the formal power sector was just N1tn for 2023 that goes to the generation companies, transmission companies and the distribution companies. Just N1tn formal revenue. But the informal spendings on generators, diesel, petrol, was close to N20tn.
“Even if it is just a quarter of that is put in the official power sector, we are talking about incremental revenue of N5tn that will bring the sector’s revenue to N6tn, sincerely we are going to have something close to uninterrupted 24/7 power supply in Nigeria.
“That is what we are working on to ensure that that trust is back, that that confidence is back. And all the manufacturing companies that are doing self-generation can cut it off and reconnect to the national grid because it is the cheapest source.
“As at the last study, Band A customers are enjoying uninterrupted supply and pay N206. For the companies that have their captive power using gas, they pay about N290/kwh.
“For those that are using petrol generators, it is about N450 per kilowatt-hour. And for those using diesel to power their generators, it is upward of N900. So it is still the cheapest, most efficient and the least cost for our productive activities.”
The Nigerian National Petroleum Company Limited, NNPCL, has declared a state of emergency on crude oil production.
Group Chief Executive Officer of NNPCL, Mele Kyari, made this known on Tuesday in a keynote address at the opening ceremony of the 23rd edition of the Nigeria Oil and Gas Conference and Exhibition (NOG Energy Week) in Abuja.
According to him: “We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation.”
Kyari further stated that a detailed asset analysis revealed Nigeria can produce two million barrels of crude oil per day without deploying new rigs, adding that the primary obstacle is the inability of industry players to act promptly.
The NNPCL boss said the war will make the company and its partners immediately remove all identified barriers to efficient production, including delays in procurement processes, which have become a challenge in the industry.
Speaking on the medium- to long-term measures to boost and sustain production, Kyari said NNPC will replace all the old crude oil pipelines built over four decades ago.
He said the company will also introduce a rig-sharing programme with its partners to ensure that production rigs stay in the country for between four and five years, which is the standard practice in most countries.
The NNPC boss urged all players in the industry to synergize towards reducing the cost of production and enhancing production to target levels.
He reiterated the company’s commitment to investing in critical midstream gas infrastructure such as the Obiafu-Obrikom-Oben (OB3) and the Ajaokuta-Kaduna-Kano gas pipelines to boost domestic gas production and supply for power generation, industrial development and the economic prosperity of the country.
He said NNPCL has since keyed into the presidential compressed natural gas (CNG) drive, and, in collaboration with partners like NIPCO Gas, has constructed several CNG stations.
Civil society groups under the auspices, Empowerment for Unemployed Youth Initiative (EUYI) has alleged that the rot in the Tertiary Education Trust Fund (TETFUND) is affecting the efforts to revamp the tertiary education subsector.
Convener Danesi Momoh in a statement yesterday urged President Bola Tinubu not to allow the alleged rot in TETFUND dent his efforts to revamp the education sector.
The group said: “Without doubt, President Tinubu is paying far more than a passing attention on the education sector and educational matters.
“Though he inherited an education sector that is deficit in many aspects, his commitment to turning things around is visible.
“He has always maintained that without quality education, the vision of the Renewed Hope Agenda cannot be met. Consequently, he has been hammering on policies that will expand both access and facilities in the education sector.
The Legal Practitioners Privileges Committee (LPPC), has shortlisted 98 senior lawyers and professors of law for elevation to the rank of Senior Advocate of Nigeria (SAN).
Among the names shortlisted are former Nigerian Bar Association (NBA), National Officers, Monday Onyekachi Ubani, Kunle Edun, Dr. Rapulu Nduka and Stanley Imo.
Also Shortlisted is the Chairman of NBA Bwari Branch, Paul Daudu and notable Abuja based Senior Lawyer, Okey Ajunwa. This was contained in a statement issued in Abuja by the Secretary of LPPC Harjo Sarki Bello.
The statement reads: “The Legal Practitioners’ Privileges Committee (LPPC) by this Notice announces the shortlisting of applicants for the conferment of the rank of Senior Advocate of Nigeria for the year 2024.
“The shortlisted applicants in the two categories of Advocacy and Academia. Among shorlisted are Lateef Olaseinde Karim, Godwin Tagbo Ike, Johnson Odionu, Nnodim Marcellinus Duru, Innocent Adams Ovbagbedia, Esq., Soronnadi Anthony Njoku, Adamu Abubakar, Esq and Charles Oyaole Musa.
Others are Udochi Nunny Iheanacho, Esq., David Dare Onietan, Elele Chinatu Casmir, Josiah Rapuluchuks Nduka, Esq., Godwin Ikechukwu Obeta, Habeeb Orisavia Ilavbare, Moses Kolade Obafemi, and Mathew Echezonam Esonanjor, Baba Fika Dalah. Among those in the academia are Prof. Osy Ezechukwunyere Nwebo, Prof. Nlerum Sunday Okogbule, Prof. Nnamdi Onyeka Obiaraeri, Prof. Nathaniel Ahagbue Inegbedion, Prof. Collins Chijioke Obioma and Prof. Violet Aigbokhaevbo.
Also in the list are Prof. Augustine Robert Agom, Prof. Ibrahim Abdulqadir Abikan, Prof. Chima Josephat Ubanyionwu and Prof. Ganiyu Adeyemi Oke.
The LPPC however called on the general public i to comment on the integrity, reputation, and competence of the applicants.
The statement reads: “Every complaint(s) must be accompanied by a verifying affidavit deposed to by the author before a Superior Court of Record in Nigeria or before a Notary Public and be in 20 copies.
The House of Representatives Special Ad Hoc Committee on Restructuring of Government Agencies and Commission has commenced the process of reviewing the recommendations of the Steve Oronsanye Report.
The report, aimed at reducing the cost of governance through merging, scrapping and relocation of some departments and agencies of government, was submitted to the Federal Government in 2012.
The report on public sector reforms revealed 541 statutory and non-statutory – Federal Government parastatals, commissions and agencies.
On February 26, 2024, the Federal Executive Council meeting presided over by President Bola Tinubu approved the implementation of the report to reduce the cost of governance, according to the Minister of Information and National Orientation, Mohammed Idris.
According to the recommendation, 29 government agencies would be merged even as eight parastatals would be subsumed into eight other agencies. More so, four agencies have been relocated to four various ministries, while one was earmarked for scrapping.
The FEC mandated a committee headed by the Secretary to the Government of the Federation, George Akume, to review the report and submit recommendations.
Addressing journalists on Tuesday at the National Assembly Complex, Abuja, the committee chairman, Isiaka Ayokunle, justified the need to review the report.
He said, “We must revisit the recommendations of the Oronsaye Report and other pertinent white papers to ensure that we are aligning our government structures with current realities, best practices, and the changing needs of our society.”
He added, “The world is evolving rapidly, and our government agencies and commissions must be structured in a way that enables them to deliver on their mandates effectively and efficiently.”
Ayokunle who represents the Ifo/Ewekoro Federal Constituency of Ogun State, noted that through the review, the committee hoped to identify redundancies, duplications, inefficiencies, and areas of improvement within the Federal Government agencies and commissions.
“Our goal is to apply the legislative approach in streamlining operations, eliminate duplication of functions, enhance service delivery, and optimise resource allocation.
“This review will be comprehensive and thorough, taking into cognisance the diverse perspectives and expertise available to us,” he said.
Ayokunle said, “We acknowledge the importance of stakeholder engagement in this process, and we will require input from various stakeholders, including government officials, experts, civil society organisations, and the general public.”
The committee, according to him, would hold a one-day public hearing on the matter on July 10 in Abuja.
The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, said on Tuesday, that whenever he checks case files and sees the amount stolen, he wonders how the country still exists.
In a statement by EFCC Head of Media and Publicity, Dele Oyewale, the chairman stated this while receiving the management team of the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, led by its chairman, Mohammed Shehu.
“When I look at some case files and see the humongous amount of money stolen, I wonder how we are still surviving. If you see some case files, you will weep. The way they move unspent budget allocation to private accounts in commercial banks before midnight at the end of a budget circle, you will wonder what kind of spirit drives us as Nigerians,” Olukoyede said.
He also said public corruption ranks as the biggest cause of corruption in Nigeria, adding that if public corruption was taken out of the polity, the country would fare better than many countries of the world.
“A situation where somebody would hold a public office or position of trust for years and you call him to account and he says, no, he would not account, is not acceptable,” he said.
He stressed that transparency and accountability should be embedded in both the public and private sectors for optimal development of the country.
According to him, corruption poses a huge challenge to the country, even as he expressed optimism that the prevention mechanisms of his leadership would ensure that the commission stays ahead of the devices of the corrupt to ensure that Nigerians have good governance experiences.
“The preventive framework for tackling corruption offers more prospects for results and impact. To this end, the EFCC now has a Department of Fraud Risk and Assessment and Control.
“Let’s look at our system of revenue generation. It is a system that allows leakages in mobilisation and appropriation of funds. If we don’t look at the system, we will continue to chase shadows. In this direction, we are not just going to investigate and recover; what we have decided to do in the EFCC is policy review. If we can block some of these leakages and have 50 per cent of capital project execution in Nigeria, the country would be fine,” he said.
The RMAFC chairman lauded the longstanding collaboration between his organisation and EFCC and stated that the visit was motivated by the need to explore more areas of collaboration between the two agencies of government, especially in the direction of recovering unremitted or lost government revenues.
“It is important to bring to the fore that the collaboration between RMAFC and EFCC is crucial in addressing the challenges of unremitted revenue to the Federation Account. On this note, we are calling on EFCC for more collaboration, not only in the area of enforcement but also intelligence gathering and data sharing as regards government revenue from any source,” he stated.
Shehu also called on EFCC to further assist RMAFC in the area of capacity building for its staff on revenue monitoring.
The Enugu State chapter of the Labour Party has denounced what it termed the politically-motivated detention of its candidate for Enugu South Urban State Constituency, Bright Ngene, saying he was tried on trumped-up charges.
Ngene was sentenced to seven years in prison by the Enugu South Magisterial District on June 28, 2024.
The party condemned the judgment in a statement issued and signed by the State Chairman, Casimir Agbo, and the Publicity Secretary, Onuora Odo, in Enugu, on Tuesday.
It asked the National Judicial Commission to intervene and prevent further disgrace to the legal profession by officials compromised by political pressures.
It alleged that the magistrate, E. D. Onwu, acted under external influences to expedite the long-pending case.
The party also accused him of disregarding community protests and a pending petition to the NJC regarding his visible bias.
“We, the undersigned, strongly condemn the unjust and politically motivated detention of Hon. Bright Ngene, the Labour Party’s candidate for Enugu South Urban State Constituency, during the March 18, 2023 election, which he won and was sworn in as a member of Enugu House of Assembly.
“You would recall that Honourable Bright Ngene defeated his closest rival, Sam Ngene, during the elections. However, the PDP candidate went to the tribunal praying it to declare that the election was inconclusive.
“Consequently, the tribunal ordered a rerun in eight polling units. Unfortunately, the said rerun didn’t hold on two occasions as the PDP candidate was unprepared for the elections but was only plotting with the Independent National Electoral Commission to rig the election.
“The PDP-led government is in cahoots with the INEC to manipulate the election in favour of Sam Ngene,” the statement read.
The party said on two occasions that the rerun could not be held because the masses came out to reject any form of manipulation and imposition.
“It’s on the strength of the stiff resistance being mounted by the Labour Party candidate that the PDP-led government strategised and came up with arm-twisting tactics geared towards stopping Bright at all costs
“In total execution of their grand scheme, the PDP-led government went and resurrected a land-related matter involving Bright and two others, pending before the court since 2017.
“In a scenario that looked more dramatic than court proceedings, the presiding magistrate, Onwu, apparently acting under instructions, hurriedly and haphazardly heard the case on June 28, 2024, without adoption of addresses by parties, and sent Hon. Bright to prison for seven years without the option of fine on a trumped-up charge,” the party added.
The party condemned the detention of its candidate and described it as an attempt to silence and prevent him from participating in the upcoming rerun.
“We consider this detention a grave violation of human rights and fundamental freedoms, particularly given the pending petition before the National Judicial Council on the matter. The presiding magistrate’s decision was tainted by manifest bias, amounting to political intimidation.
“We urge the NJC, human rights organisations, and the international community to condemn this injustice and advocate for Hon Bright’s freedom,” the party said.
As concerns mount over the lack of domestic crude oil to the Dangote Petroleum Refinery and other indigenous refiners, the Independent Petroleum Producers Group has called on President Bola Tinubu to consider declaring a state of emergency on crude oil production in Nigeria following the lingering crisis associated with this.
IPPG is an association of Nigerian indigenous upstream exploration production companies that engages the government and other industry stakeholders on issues affecting the sector. It has 28 members including Oando Plc, Aiteo, Seplat, Energia, Eroton, First E&P, Frontier Oil, Green Energy, among others.
The oil producers also expressed fears that the 2024 budget might be implemented partially due to the low production of crude in Nigeria lately.
This came as the Nigerian National Petroleum Company Limited announced that it had declared war on the challenges confronting oil production across the country, adding that it was currently engaging its partners including International Oil Companies.
However, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, charged the oil producers to increase their investments in the upstream arm of the business, as this would also help to grow oil output.
They all spoke at the ongoing Nigeria Oil and Gas conference in Abuja on Tuesday.
Nigeria’s oil production has been dropping since this year, falling from over 1.4 million barrels per day (excluding condensates) in January to about 1.2mbpd in April.
Oil producers believe that Nigeria should be producing about 2mbpd in order to meet the demand of local refineries as well as export.
Dangote refinery as well as operators of modular refineries have continued to raise concern over the poor crude oil supply from IOCs and NNPC. However, industry experts say most of the crude volumes by the IOCs and NNPC have been contracted out to dealers already, amid the low production in-country.
Presenting the industry keynote address at the conference, the Chairman, IPPG, Abdulrazaq Isa, pointed out that the industry was in dire need of extraordinary focus to mitigate the genuine concerns on its long-term sustainability.
He stressed that “as a matter of national importance, Nigeria must act fast and hasten the pace of recovery across the entire industry, even if it means Mr President declaring a state of emergency in the oil and gas sector! We must be seen to do everything possible to unleash the industry.
“Unlocking this incremental production is achievable only through collaboration and commitment between the industry regulators (NUPRC and NMDPRA) and industry operators (NNPC, OPTS and IPPG) and this must be done for the sake of our country.”
Isa said despite Nigeria’s world class hydrocarbon resource base, with over 37 billion barrels of proven crude oil reserves and 207 tcf (trillion cubic feet) and 600 tcf of proven and contingent gas reserves respectively, the country finds itself in a situation where its daily production has significantly dropped and lies at about 1.3 million barrels of oil and 8.5 bcf (billion cubic feet) of gas today.
“This is way below our capacity as a nation and by all globally acceptable standards, this reserves to production ratio is extremely low and a clear indicator that the industry is in a dire situation. In addition, we now run the risk of partial implementation of our national budget considering an estimated deficit of 400,000bpd from the forecasted 1.78 million bpd.
“This trend in production portends another frightening dimension when we consider that in the not-too-distant future our overall installed domestic refining capacity, currently closing in on about 1.2 million barrels per day, may soon outstrip our current crude oil production level with the risk of Nigeria finding itself in a position where it is unable to meet its domestic refinery crude demand or even become a net importer of crude oil, God forbid!,” he stated.
The oil producers chairman noted that it was against this scary backdrop that the IPPG was calling for urgent measures to be undertaken by all relevant stakeholders to immediately arrest this dwindling production level and under-investment by focusing on some priority areas.
Outlining the priority areas, he said, “The immediate conclusion of all pending IOC divestment transactions: IPPG strongly advocates that our member companies – Seplat, the Renaissance Consortium and Oando – have the proven track record to successfully take over and manage these onshore and shallow water assets to realise incremental production in the region of 100,000 – 200,000 barrels of oil and over 1.5bcf of gas per day within 24 months and well over 500,000 barrels of oil per day in the long term.
“IPPG believes the timely approval of these IOC divestment transactions will also be a clear signal capable of restoring global investor confidence in Nigeria in an era of competing global investment destinations in Africa and very limited access to capital.
“The urgent need to address deepwater developmental and production: Untangling issues around deepwater development, particularly in terms of competitive fiscal regime being negotiated with Shell, Total Energies, ExxonMobil and Chevron, has the potential to unlock incremental production of 700,000 barrels per day from this terrain in the short to medium term.”
Isa also stated that enabling deepwater development would attract significant economic benefits as Nigeria has one of the world’s largest untapped deepwater resource base.
“The adoption of a national value-retention strategy: Nigeria’s domestic crude oil refining and petrochemical capacity must be sustained primarily from our domestic crude oil and gas production in order to transform our country into a net exporter of refined petroleum and petrochemical products that will lay a strong foundation for the rapid industrialisation of the Nigerian economy.
“It is therefore imperative to grow our daily production to 2.5 million barrels of oil and 10 bcf of gas in the near to long term to ensure we are able to meet our domestic refinery and petrochemical demands and export commitments to generate the much needed foreign exchange earnings for macro-economic stability.
“The development of Nigeria’s gas resources to catalyse economic growth and complement decarbonisation drive: Nigeria’s vast gas resources must be exploited with immediate focus placed on restoring production to existing installed LNG capacity and expanding production (FLNG),” he stated.
In addition, the IPPG chairman said “we must expand domestic gas utilisation (gas-to-power; gas-based industries) by investing heavily to address the gas infrastructure deficit facing us today. The International Oil Companies will lead the charge on export gas while IPPG members will drive the domestic gas agenda led by NNPC
“These priority areas provide the most realistic and sustainable pathway towards meeting our national long term production aspiration of four million barrels of oil per day and 13 billion cubic feet of gas per day.”
NNPC reacts
Also speaking at the conference, the Group Chief Executive Officer NNPC, Mele Kyari, said in order ro increase Nigeria’s crude oil production and grow its reserves, NNPC has declared a state of emergency on production in Nigeria’s oil and gas industry.
“We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation,” he declared.
According to him, a detailed analysis of assets revealed that Nigeria can conveniently produce two million barrels of crude oil per day without deploying new rigs, but the major impediment to achieving that remains the inability of players to act in a timely manner.
He said the “war” would help NNPC and its partners to speedily clear all identified obstacles to effective and efficient production such as delays in procurement processes, which have become a challenge in the industry.
Oil sector principalities
Kyari described some players in the sector as principalities, but stated that the President had made orders to tackle such individuals.
“There are delays in procurement and this is because all of us the producing companies have converted procurement to business. It is not just NNPC, everyone of us. And I’ve said this to all our partners that within your companies you have principalities who will not let you complete your procurement, who will add cost to your costs.
“And now what Mr President has done is to take out all the principalities and if you do, it is your choice. But for us as a company we are moving to another level. We are going to cap the cost of production. You can call your wife to do the contract, no problem, provided you produce the oil at $20/barrel or so.
“We’re getting there so that we can take out those procurement people who have stopped us from developing as an industry and a country. This is what Mr President’s executive order has done, to take out those principalities so that we can move.”
On medium to long-term measures aimed at boosting and sustaining production, Kyari said NNPC would replace all the old crude oil pipelines built over four decades ago and also introduce a rig sharing programme with its partners to ensure that production rigs stay in the country for between four and five years which is the standard practice in most climes.
He called on all players in the industry to collaborate towards reducing the cost of production and boosting production to target levels.
He expressed the company’s commitment to investing in critical midstream gas infrastructure such as the Obiafu-Obrikom-Oben, known as OB3, and the Ajaokuta-Kaduna-Kano gas pipelines to boost domestic gas production and supply for power generation, industrial development and economic prosperity of the country.
On Compressed Natural Gas, Kyari observed that NNPC has since keyed into the Presidential CNG drive, adding that in conjunction with partners such as NIPCO Gas, NNPC has built a number of CNG stations, 12 of which will be inaugurated on Thursday in Lagos and Abuja.
Meanwhile, the oil minister, Lokpobiri, charged the IPPG to increase its investments in the oil sector by ramping up its production of crude, stressing that if the 28 members of the association could produce at least 5,000 barrels daily, this would go a long way in raising Nigeria’s oil output.
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Abdulsamad Dasuki, a member of the House of Representatives, has called on President Bola Tinubu to sack all his appointees in the security sector, saying they have failed to meet the expectations of Nigerians.
The lawmaker made the call on Tuesday while speaking at a debate on a motion condemning the recent suicide bombing in Borno State.
New Telegraph had earlier reported that Ahmed Jaha sponsored the motion during Tuesday’s plenary.
In his remarks, Dasuki said the President appointed several northerners into the security sector so that they can take care of insecurity in the North, however, they have not been able to do that.
According to him, the country needs a scapegoat, adding that the House should urge the President to sack all his political appointees in the security sector.
“In the last year that we have been inaugurated, no one has been sacked. It is high time we hold people responsible. It is high time we find a scapegoat, which is justifiable.
“These guys have not lived up to expectations. The president has said that he gave these positions to northerners to defend their people. That is what he said practically.
“Every day, we have two or three security-related issues. We can call on the president to sack all security political appointees. All of them have been in the position for ten months. Political appointees-security wise can go,” he said.
Some of the northern political appointees include the Minister of Defence, Mohammed Badaru, the Minister of State for Defence, Bello Matawalle, the Minister of Police, Ibrahim Gaidam, the National Security Adviser, Nuhu Ribadu and others.
Also speaking on the motion, the Chairman of the House Committee on Navy, Yusuf Gagdi, opposed the argument that the security sector was handed to northerners, stating that the Inspector General of Police, Kayode Egbetokun and the Chief of Army Staff, Taoreed Lagbaja, were southerners.
Following the debate, the House resolved to condemn the bombing and asked the Committee on National Security and Intelligence to investigate the development
The European Union, EU has confirmed that the Nigerian Federal Government has cleared an outstanding debt amounting to $850 million owed European airlines.
The confirmation was given on Tuesday.
Samuela Isopi, the EU Ambassador to Nigeria and the ECOWAS, disclosed this at the 9th edition of the Nigeria-EU Business Forum in Abuja.
Isopi noted that a key condition for any foreign investor is the ability to repatriate profits.
“A year ago, these funds amounted to $850m, with a big chunk being owned to European airlines. Today more than 98 percent of arrears have been cleared. This is a major achievement,” Isopi said.
The ambassador also commended the decision of the Federal Government to remove foreign exchange restrictions for the import of 43 items.
According to him, “Investor confidence takes time to build up, but resolving these issues was a top priority.”
The ambassador described the business forum as a platform for dialogue and engagement between the public and the private sectors and highlighted the importance of the role of the government in supporting business, the private sector and private investments, as a driver for a truly inclusive and sustainable economic development.
Recall that the governor of the Central Bank of Nigeria had, in January 2024, said the bank had concluded the payment of the foreign exchange backlog to foreign airlines.
The Central Bank of Nigeria has warned against the continued rejection of old series and lower denominations of the United States of American dollars by its regulated entities in Nigeria.
The bank threatened to sanction lenders that rejected the currencies.
This was contained in a circular dated June 27, signed by the acting director of the currency operations department, Solaja Olayemi, which was recently released on the website of the apex bank.
The circular directed at Deposit Money Banks, Bureau De Change operators and the general public cautioned against the continued rejection of the old series and lower denomination of the American greenback.
CBN said the fresh circular followed the outcome of its consumer market intelligence, which revealed the continued rejection of old/lower denominations of dollar bills by banks and other authorised forex dealers.
“Kindly be reminded that the Central Bank of Nigeria circular referenced COD/DIR/INT/CIR/001/002 and dated 9th April 2021, which explicitly frowned at this selective acceptance of deposit, is still in force and must be adhered to and complied with by all relevant parties.
“For the avoidance of doubt and further guidance on the circular, the content is hereby reissued as follows for strict compliance: All DMBs /authorized forex dealers should henceforth accept both old series and lower denominations of United States Dollars that are legal tender for deposit from their customers. The CBN will not hesitate to sanction any DMB or authorised forex dealers who refuse to accept old series/lower denominations of US Dollar bills from their customers,” the circular partly read.
The circular also warned authorised forex dealers against defacing/stamping US Dollar banknotes as such notes always fail authentication tests during processing/sorting.
CBN first issued the warning in a circular signed by then director of the currency operations department, Ahmed Umar, on April 9, 2021.
I turned down N250 million bribe for Obasanjo’s third term agenda — Ex-Senate President, Wabara
AFOLABI
Former Senate President Adolphus Wabara has revealed that he rejected the sum of N250 million to support the third-term agenda during former President Olusegun Obasanjo’s administration.
In an excerpt from the YouTube interview series “Untold Stories with Adesuwa,” released on Monday, when asked about the truthfulness of this assertion, he said, “That’s very correct.”
The third-term agenda marked a pivotal moment in Nigeria’s 25-year uninterrupted democratic history, involving a constitutional amendment bill aimed at allowing then-President Olusegun Obasanjo to run for a third term in office.
Speaking further, Wabara revealed that while he didn’t believe the stories that some senators received N50 million at the time, he received N250 million bribe, which was brought to him in a G-Wagon at 1:20 a.m.
Wabara also stated that his educational background played a huge role in rejecting the third-term agenda.
“I turned down a N250 million bribe to support the third term agenda. The money came to me by 1:30 a.m., before my third-term speech. It came in a sparkling black G-Wagon. I can still remember that it was in a black G-Wagon and a rickety 504 station wagon. The money was discharged, and my wife was there.”
Highlighting the significance of the decision, Wabara stated that if the third-term agenda had stood, other presidents wouldn’t have emerged.
“Without people like us, there wouldn’t be democracy now. Yes, if we had supported the third term, you know, I mean we would have had dictatorship, tyranny, and people like Buhari wouldn’t have emerged. Even the present Tinubu would not have emerged because Obasanjo would have still been there,” he said.
Speaking on the current state of affairs in the country, Wabara lamented that those in power had unfortunately weaponized poverty.
His words: “Hunger misdirects, and my people say that when you are having leaves or whatever the goat eats, you are the person they will continue to follow. That is what is happening in our democracy today because of hunger. The elders and the politicians—those in government—are not creating the enabling environments to eschew hunger.
“It is a deliberate act to continue to make the electorate hungry so that they will continue to follow sheepishly. So, there will be stomach infrastructure before they start thinking whether we are being led aright.”
He also clarified that he was not removed from office by Obasanjo but resigned while reiterating that there was no pressure.