The Nigerian National Petroleum Corporation Ltd. (NNPC), has commended Mohammad Barkindo, Secretary-General, Organisation of Petroleum Exporting Countries (OPEC) on the role he played in the formation of Declaration of Cooperation (DoC) between OPEC member countries and non-OPEC oil-producing countries.
The NNPC gave the commendation on Thursday when OPEC Secretary-General, hosted a working lunch for a delegation from NNPC headed by Dr Billy Okoye, Group Executive Director of Ventures and Business Development, in Vienna, Austria.
DoC was established in 2016 to accelerate the return of oil market stability following an oil market downturn.
“Secretary-General, you stood up to unprecedented challenges and you will continue to do so,” Okoye said.
Okoye also commended Barkindo for his achievements as OPEC’s Secretary-General for two successful terms.
He noted that Barkindo had been an ambassador of the corporation and Nigeria.
Responding, Barkindo highlighted Nigeria’s key role in the global oil industry, emphasising that given the country’s stature, it should continue to lead by example.
He also praised the Petroleum Industry Act (PIA), noting that the legal framework adopted in 2021 would help Nigeria to further develop the petroleum industry.
On oil market developments, Barkindo praised the efforts undertaken by the DoC countries in the interest of oil market stability.
He noted that the DoC was established in 2016 to accelerate the return of oil market stability following an oil market downturn.
He added that the framework continued to prove effective with the emergence of the COVID-19 pandemic since 2020.
“These countries did not need to reinvent the wheel. They stepped up to the challenge and adopted the largest-in-volume and longest-induration production adjustments,” he said.
Referencing OPEC’s world oil outlook 2021, Barkindo noted that oil and gas would be accountable for more than 50 per cent of the future energy mix, highlighting that oil undoubtedly would be needed to address energy demand in the future.
The meeting also addressed a number of important issues relevant to energy, including sustainable development, climate change and the importance of investment in securing future supplies to meet energy demand.
The Nigerian National Petroleum Corporation (NNPC) Limited has said it is positioned to lead Africa in energy transition.
Chief Executive Officer and Group Managing Director of NNPC, Malam Mele Kolo Kyari made the disclosure on Monday.
Kyari made the disclosure at the 30th Convocation Ceremony of the Federal University of Technology, Minna, Nigeria State.
According to him, the Corporation has set the necessary machinaries in motion to lead Africa in transition to low-carbon energy and renewables.
He noted that the corporation is deepening natural gas utilization under the National Gas Expansion Programme (NGEP).
Kyari said NNPC is currently extending natural gas infrastructure backbone from Ajoakuta in Kogi state to Kano through Abuja and Kaduna under the AKK Gas Pipeline Project.
Besides, he said this mega pipeline will be fed by both Escravos-Lagos Pipeline System (ELPS) and and Obiafu-Obrikom-Oben (OB3) gas pipelines through Oben node in Edo State and deliver 2bscf of natural gas to power plants and industrial off-takers along Abuja, Kaduna and Kano.
Continuing, he said as a National Oil Company and a global player, NNPC is ready to shift to renewable energy.
The GMD dropped the hint that “We are taking firm position in this transition by institutionizing the necessary enablers for success.
“NNPC has established a Renewable Energy Division and has completely transformed the NNPC R&D Division to NNPC Research, Technology and Innovation as Energy Company of Global Excellence.”
He said NNPC welcomes beneficial relationship with academia and industry experts who demonstrate capacity for productive research and innovation in the energy sector.
According to him, oil will remain very much relevant in the global energy mix of today and the future .
Kyari however noted that as transition to cheaper energy gains momentum, especially across the developed countries, oil companies must continuously improve operational efficiency and reduce their costs to remain on the playground.
Earlier in the presentation, he said Africa is especially endowed with abundant sunshine that can support massive development of renewable energy enough to put Africa on the map of energy sufficient regions of the world.
Kyari said attaining this vision will require substantial finance which may have to come from diverse sources globally.
He added that it will also require speedy execution of power infrastructrure and related projects faster than the peak oil window.
Considering the financial stretch required to transit at the same pace with the rest of the world, Kyari said “what Africa needs is energy transition that addresses energy poverty across the continent and supports the use of comparative and cheaper available energy resources in Africa.”
He said this will guarantee affordable and reliable energy for rapid industrialization and improvement in the economic well-being of the people.
The GMD said in view of the situation, oil is needed to continue to guarantee energy flow to industrialized regions and revenue and taxes to oil producing countries like Nigeria as renewable energy technology evolves.
The Nigerian National Petroleum Corporation Ltd. (NNPC) has assured the public that the Company has sufficient stock of Premium Motor Spirit (PMS), otherwise known as petrol, to meet the needs of Nigerians.
Mr Garba Muhammad, Group General Manager, Group Public Affairs Division of NNPC, gave the assurance in a statement on Wednesday.
Muhammad, therefore, advised the public not to engage in panic buying of petrol and to ignore all rumours that may suggest otherwise.
“In line with the existing laws of the land, NNPC Ltd. is deeply committed to ensuring energy security for the country,” the group general manager said.
As the Federal Government commenced full implementation of the Petroleum Industry Act (PIA) in earnest, the new legislation has been tipped to provide business opportunities that will enable the Nigerian National Petroleum Company Limited (NNPC) earn more revenue for the country.
Chief Executive Officer (CEO) of the company, Mallam Mele Kyari disclosed this while addressing staff of the organisation in a townhall meeting held at the NNPC Towers, at the weekend, with staff outside the Corporate Headquarters (CHQ) participating virtually.
Highlighting the significance of the PIA to the NNPC and by extension the Nigerian economy, Mallam Kyari said the new legislation has raised shareholders’ expectations on the company, even as it has given it a wide room to make progress.
According to the CEO, the PIA had put “all money-making options on the table; it is up to us to take advantage of it”.
He said as a result of the new legislation, NNPC Ltd would not only shed some of its toxic liabilities but will be the largest and most capitalised company in the whole of Africa and, potentially, the most profitable on the entire continent.
The CEO charged employees of the organisation to ensure the company becomes a commercially viable entity and a multi-billion-dollar company that will continuously deliver value to its shareholders–the over two hundred million Nigerians.
President Muhammadu Buhari has appointed the Board and Management of the Nigerian National Petroleum Company, NNPC, Limited with wife of the late Senate President, Chuba Okadigho, Margery from Southeast zone, as chairman.
Okadigbo replaced the initial chairman-nominee, Senator Ifeanyi Araraume, in the aftermath of a highwire Imo local politics that caused a presidential review of the initial appointment.
Unconfirmed reports had it that Imo State Governor, Hope Uzodinma deployed all contacts, using his office to throw spanner in the works for Araraume.
Uzodinma had reportedly been ill at ease with Araraume’s appointment as chairman of NNPC Board, believing that with the office, Araraume’s influence would be further enhanced and would pose a real threat to his (Uzondinma’s) re-election bid.
To run the affairs of the Board with Margery Okadigbo as chair are Mele Kolo Kyari, Chief Executive Officer, and Umar I. Ajiya, Chief Financial Officer.
Other Board Members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Engr. Henry Obih (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure(South West).
The appointments take effect from the date of the incorporation of the NNPC Limited.
Also appointed are Executive Commissioners of the Nigerian Upstream Petroleum Regulatory Commission. They are: Dr Nuhu Habib (Kano), Executive Commissioner, Development and Production, Dr Kelechi Onyekachi Ofoegbu (Imo), Executive Commissioner, Economic Regulations and Strategic Planning, Capt. Tonlagha Roland John (Delta), Executive Commissioner, Health, Safety, Environment and Community, and Jide Adeola (Kogi), Executive Commissioner, Corporate Services and Administration.
Earlier appointed are the Board Chairman, CEO, Executive Commissioner, Exploration and Acreage Management, and Executive Commissioner, Finance and Accounts.
New appointees at the Nigerian Midstream and Downstream Petroleum Regulatory Authority are Francis Alabo Ogaree (Rivers), Executive Director, Hydrocarbon Processing, Mustapha Lamorde (Adamawa), Executive Director, Health, Safety, Environment and Community, Mansur Kuliya (Kano), Executive Director, Midstream and Downstream Gas Infrastructure Fund, Bashir Sadiq (Sokoto), Executive Director, Corporate Services and Administration, and Dr Zainab Gobir (Kwara), Executive Director, Economic Regulations and Strategic Planning.
They join the Board Chairman, Executive Director, Downstream Systems, Storage and Retailing Infrastructure, the CEO, and Executive Director, Finance and Accounts, who had earlier been appointed.
For Midstream and Downstream Infrastructure Fund, new Council Members are; Mr Effiong Abia (Akwa Ibom), Bobboi Ahmed (Adamawa), and Engr. Abdullahi Bukar (Katsina).
TheNewsGuru.com, (TNG) recalls that President Buhari had last September written the Senate on the administrative structure amendments to the Petroleum Industry Act, which included appointment of Non-Executive Board Members, removal of the Ministries of Petroleum and Finance from the Board of the two new institutions, and appointment of Executive Directors.
A fire outbreak occurred at the Port Harcourt Refining Company (PHRC), affecting a section of the refinery and disrupting activities.
TheNewsGuru.com (TNG) reports the fire incident happened on New Year’s day, but was contained by the safety structure at the refinery and with support from the Federal Fire service.
According to a statement, following the incident, released by Garba Deen Muhammad, Group General Manager, Group Public Affairs Division, NNPC, the incident affected only the discharging truck and the pump bay.
The statement reads: “This morning, 01/01/2022, a minor fire incidence occurred at the Port Harcourt Refining Company (PHRC) .
“The incident, which was contained in less than two hours was caused by a spark while a 33,000 litre truck was discharging naphtha into a tank at the PHRC.
“The management of the refinery led by the Managing Director, who was at the scene supervising the operation, immediately mobilized the safety structure at the PHRC and with support from the Federal Fire service, successfully brought the fire under control.
“The management of the PHRC wishes to reassure Nigerians resident in the neighbourhood of the facility that they have no cause to worry about the incident; and to also affirm that the safety of life and of property is at the top of its priority list.
“The incident affected only the discharging truck and the pump bay. No other property was damaged.
“The management and staff of the PHRC hereby extends its profound appreciations to all those that contributed in bringing a speedy end to the incidence; while wishing all Nigerians a very happy and fulfilling New Year 2022”.
The Nigerian National Petroleum Company (NNPC) Limited has ended the year on a bright note after it won an award as the overall best company in oil and gas reforms at the Open Government Partnership (OGP) global awards which was held in Seoul, South Korea.
Nigeria picked the award at the expense of other countries in Africa and the Middle East that were implementing the OGP at the summit of member countries, for setting up a Beneficial Ownership (BO) registry to end anonymous companies in the country.
The Deputy Director/Head Communications & Advocacy of the Nigeria Extractive Industries Transparency Initiative (NEITI), Obiageli Onuorah, said in a statement that a lot of factors were considered before Nigeria was picked for the award.
Onuorah said the summit considered the government’s overall commitment to reforms in the oil, gas and mining sectors and its support to NEITI to establish a beneficial ownership register of companies in business in Nigeria’s extractive sector.
Also considered were the broader reforms in beneficial ownership disclosure by the CAC through the amendment of the Companies and Allied Matters Act (CAMA) and the recent Petroleum Industry Act (PIA).
Commenting on the feat, Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, expressed delight that the international community was beginning to assess Nigeria’s efforts at fighting corruption and deepening its democracy.
He described the award as impressive and encouraging, considering the political will and enormous resources the government had deployed to reposition the extractive industry to benefit all Nigerians.
The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, congratulated Nigeria on the award and noted that establishing a beneficial ownership register had helped Nigeria “track, reduce and arrest corrupt practices that are undertaken either by companies or beneficial owners of companies.”
The Open Government Partnership (OGP) is a partnership of 78 countries and 76 local governments – together representing more than 2 billion people – along with thousands of civil society organisations.
NNPC at OGP Global Summit
They work together to make governments more transparent, less corrupt, participatory and responsive to its citizens.
Over 8,000 members of the OGP community voted in the Impact Awards, which had Tunisia and Ghana coming second and third respectively.
Still in the week under review, the Image Merchants Promotion (IMPR) recognised the Nigerian National Petroleum Company Limited (NNPC) as the best organisation in Community Relations activities.
This followed records of its impactful community relations projects across the country.
Speaking at the Award Ceremony in Abuja, the Chief Executive Officer of the IMPR, Mr Yushau Shuaib, said the recognition of the national oil company as the overall best in Community Relations category was purely based on visible multi-billion-Naira projects executed at its different operational locations and beyond.
Shuaib stated that the NNPC had ensured adequate utilisation of Public Relations strategies in the execution of community relations services, noting that the people-oriented initiatives were professionally driven.
“The award of N6bn worth of contracts to six oil and gas communities in Niger Delta and the revival of 5.4 hectares of land for the construction of a 200-bed capacity hospital and a diagnostic centre in Gombe State among others received wider publicity and commendations from beneficiaries,” he said.
Receiving the award on behalf of the NNPC Limited, the Group General Manager, Group Public Affairs Division and former President of the Nigerian Guild of Editors, Mr Garba Deen Muhammad, said as a socially responsible entity, the company would continue to embark on CSR interventions that would add value to the society.
He pointed out that NNPC was one of the few establishments that had a policy document on Corporate Social Responsibility (CSR), saying that in spite of the current reality of Petroleum Industry Act that stresses profitability, the company would remain committed to its payoff – touching lives in many positive ways.
Some of the organisations in attendance were, Defence Headquarters (DHQ), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Department of State Security Service (DSS), the Nigeria Customs Service (NCS), National Information Technology Development Agency (NITDA), among others.
In another development, the Works and Housing Minister Mr Babatunde Fashola dispelled insinuations that the NNPC was taking over the job of the ministry, stressing that the arrangement was coming under Executive Order 7, which existed during the last administration, but was never deployed.
The Minister made the disclosure during the symbolic presentation of cheque for the 21 critical roads funded by NNPC through the Tax Credit Scheme at the Ministry’s headquarters in Abuja.
Shedding light on the scheme, the Minister said, “NNPC is not taking over roads, NNPC is not constructing roads, NNPC is just putting forward its tax liabilities to the authority who is supposed to collect, which is the Federal Inland Revenue Service, (FIRS).
Fashola further made it clear that this is a tax credit intervention and essentially, the private sector company is putting forward what should have been its tax compensation for liabilities to government.
Minister of Works and Housing, Babatunde Fashola
He explained that the scheme was not for one company alone as any company that was interested in it can apply to Federal Government.
Fashola said the Buhari administration amended the Executive Order 007 to give room for the roads to be impacted to be diverse and also allow smaller companies to come together as a group to use their tax liabilities for smaller roads that would aid their businesses.
He expressed happiness that the amendments attracted the interest of conglomerates like Dangote group, the oil industry which was stepping in with 600 billion Naira to address 21 roads covering over 1, 800 kilometres.
Speaking further on the amendment made by President Buhari, Fashola revealed that a governing process had been put in place that required the Ministry of Works and Housing to look into the certification, send them to FIRS for verification within five days, after which NNPC was expected to pay within 30 days.
He also said that an agreement had been reached with the contractors that nobody would ask for price variations even though some of the contracts were over 10 years old.
Also speaking, Group Managing Director and Chief Executive Officer of the NNPC Limited, Malam Mele Kyari, described the initiative as remarkable because of the difference the funding would make in the country’s roads.
NNPC GMD/CEO, Malam Mele Kyari
Represented by the Chief Financial Officer, Mr Umar Ajiya, the GMD noted that due to the incessant vandalism of the NNPC’s pipelines, the national oil company had resorted to hauling products by road.
“This is a very remarkable event simply because the condition of the road network in the country is affecting our business in our quest to participate in the energy security of Nigeria.
“These roads have also suffered some failure over the years and sometimes we find it difficult to pass the road.
“It is on that note, that we found it necessary and very important to step in to support the federal ministry of works in funding these numbers of roads,” he explained.
The Chairman, FIRS, Muhammed Nami, explained that the scheme would encourage taxpayers to use company income tax payable by them to fix Nigeria’s critical infrastructure in exchange for tax credit.
“This tax credit is issued after a confirmation process has taken place using our audit procedures that verifies that monies that ordinarily should be invested in these roads are actually invested in the roads.
“Once that is done, we then issue a tax credit to the taxpayer.
“This is also to support the fact that there is a social contract between the taxpayers and the government.
“What government is using the Executive Order 007 to do is to give value to taxpayers’ money.
“This is unprecedented and very necessary for us to fix the roads in Nigeria because the annual budgetary allocations for these roads are not only minimal but absolutely insufficient.”
The occasion also witnessed the signing of an MoU, among the stakeholders, including the ministry, FIRS, NNPC Limited and the contractors.
Also in the week, a professor of capital market at the Nasarawa State University, Prof. Uche Uwaleke, called for the removal of fuel subsidy in line with the provisions of the Petroleum Industry Act, PIA.
Uwaleke who bared his mind on the development said that for the country to maximise the benefits of the PIA and attract investors to the oil and gas industry, especially the downstream, fuel subsidy had to stop.
Prof. Uche Uwaleke
He said contrary to popular belief, according to the World Bank, it was the rich, not the poor who disproportionally benefits from Nigeria’s fuel subsidy.
Nigeria’s poor rely primarily on public transportation as such their per capita fuel consumption were significantly less than the country’s rich, who generally use private vehicles.
He therefore suggested that compensation schemes must be put in place to mitigate the impact of the removal.
On the topical issue of energy transition which had attracted global attention, he noted that fossil fuel would remain relevant and important for a long time to come, adding that Nigeria needed the revenue from the petroleum industry to develop the other sectors of the economy.
Also in the week, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) called for a paradigm shift in the relationship between the labour union and management with a view to promoting organisational profitability.
The outgoing Group Chairman of PENGASSAN, NNPC Group Executive Council (GEC), Comrade Victor Odor, stated this on Wednesday at the 6th Triennial Delegates’ Conference of the Council which held in Abuja.
Odor said given the new reality occasioned by the PIA, there was need to review Union-Management engagement strategies to focus more on collaboration, synergy and support for policies that would improve the company’s revenue base and sustainability prospects.
He commended the GMD for the numerous initiatives geared towards the progress of the company.
Also speaking at the event, NNPC CEO, Kyari, said that the new NNPC would be driven by performance and profitability.
He noted that the PIA had provided the enabling structures to support the NNPC’s viability and growth.
The GMD who was represented by the Chief Financial Officer (CFO), Mr Umar Ajiya, stated that management would continue to leverage on industry-wide coverage to build a stronger national oil company that would support the growth of the nation’s economy.
“Our vision is to create an NNPC Limited that is driven by performance and profitability, and I am counting on the unwavering support of our in-house unions and all NNPC employees to achieve this.
“The PIA has certainly created a major restructuring and at the same time more opportunities for growth across the industry,” he said.
Kyari urged the union and staff to demonstrate practical commitment in the affairs of the organisation, assuring of job security for staff in compliance with the provisions of the PIA which guarantees that employees of NNPC as a Corporation were deemed to be employees of NNPC Limited on terms and conditions not less favorably enjoyed prior to their transfer of service.
Also, the Group General Manager, Group Public Affairs Division of the NNPC, Mr Garba Deen Mohammad and the Vice President of PENGASSAN, Comrade Matthew Duru, commended the Odor-led executive for providing quality leadership for the union in the last two years.
Group General Manager, Group Public Affairs Division, NNPC, Mr Garba Deen Mohammad
In another development, the Nigerian Pipelines and Storage Company Limited (NPSC) had been urged to evolve new ways to boost its revenue generation and ensure cost optimisation.
NNPC’s Group Executive Director, Downstream, Engr. Adeyemi Adetunji gave the charge at a retreat organised by the NPSC.
He reiterated the need for the company to align itself with the post PIA NNPC
Speaking earlier, the Company’s Managing Director, Engr. Mansur Sambo said the aim of the retreat was to identify key challenges, best possible solutions, and strategies to make NPSC viable and sustainable in a PIA-driven era.
He explained that the essence of bringing together all Managers across NPSC was to identify the necessary steps that would reactivate and revitalise the revenue drivers as well as optimise the company’s operational cost.
He charged the Managers to be bold in making necessary business decisions, while assuring them of Management’s commitment and support towards the delivery of the Company’s mandates to grow and sustain its business.
The Leadership of the in-house union, Comrade Nurudeen Adetoro, Chairman, PENGASSAN and Comrade Baba Kaumi, Chairman, NUPENG, pledged their support to the new Management.
The Union urged the new Management Team to always work in collaboration with the members of Staff and Union.
On a final note, the Research and Innovation (RTI) Division of NNPC inaugurated NNPC Innovation Interface Community Hub (NIICH).
The development was inspired by the need to provide a forum for creative minds within the company to convert their ideas into valuable products and solutions.
The hub was designed to provide a platform to create and recreate new ideas as well as re-invent for the purpose of relevance, and resilience in the eco system where the industry operates.
Speaking at the launch, Engr. Betty Ugonna, Chief Innovation Officer of the NNPC, said the focus was to leverage on the interface community through the Hub inspire an innovative culture, and provision of services through viable solutions.
In his presentation, Group Executive Director, Ventures and Business Development, Dr Billy Okoye, stated that the directorate would do everything within its mandate to sustain the Hub.
The highpoint of the event was the formal launch of the hub by GMD/CEO of NNPC; Malam Mele Kyari through a virtual speech.
Subsequently, a virtual demo session of the hub was made by Engr. Ibrahim Ajiboye, the RTI’s Innovation Engineer for Digital Transformation.
The NIICH would provide for NNPC a forum for interactions, training sessions, webinars, periodic, evaluation and development of prototype ideas and innovations within the industry as well as with business partners.
A total sum of ₦203.73billion was made on the sale of white products in the month of July 2021 by the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the Nigerian National Petroleum Company (NNPC) Ltd.
This was contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), the 72nd edition of the Report.
The report also revealed that total revenues generated from the sales of white products for the period July 2020 to July 2021 stood at over ₦2.563 trillion where PMS contributed about 99.67% of the total sales.
Similarly, a total of 1.544billion litres of petroleum products were sold and distributed by the PPMC, in the month of July 2021 with PMS accounting for 99% of total volume.
Total sale of petroleum products for the period July 2020 to July 2021 stood at 19.535billion litres and Premium Motor Spirit (PMS) accounted for 99.73% of total volume, the report stated.
The report also indicated a 5.23 percentage increase in the average daily gas supply to power plants in the month of July 2021 which stood at 759million standard cubic feet of gas per day (MMSCFD), equivalent to power generation of 3,250MW against the June 2021 figure of 721mmscfd to generate 3,181MW.
According to the report, national gas production in July 2021 increased by 3.99% at 232.69Billion Cubic Feet (BCF) compared to output in the previous month, translating to an average daily production of 7,502.28mmscfd.
For the period July 2020 to July 2021, a total of 2,891.53BCF of gas was produced representing an average daily production of 7,305.43mmscfd.
Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 58.67%, 20.45% and 20.89% respectively to the total national gas production.
In the Downstream sector, to ensure sustained increase and effective distribution of petroleum products, especially Premium Motor Spirit (PMS), across the country, the NNPC has continued to diligently monitor the daily stock of petrol to achieve success in this regard.
In July 2021, the MFOR noted that 42 pipeline points were vandalized representing 10.64% decrease from the 47 points recorded in June 2021.
This month, Port Harcourt area accounted for 40% and Mosimi Area accounted for 60% of the vandalized points.
In the Upstream, NNPC recorded total export receipt of $191.26million in July 2021 as against $188.00million in June 2021.
Receipts from crude oil amounted to $12.95million while gas and miscellaneous receipts stood at $78.69million and $99.61million respectively.
Total crude oil and gas export receipt for the period July 2020 to July 2021 stood at $1.73billion.
The Federal Government and the Nigeria National Petroleum Corporation (NNPC) Ltd on Tuesday signed a Memorandum of Understanding of N621 billion to fund the construction of critical road infrastructure across the country.
The Tax Credit MoU, which was signed in Abuja by the Minister of Works and Housing, Mr Babatunde Fashola, on behalf of the Federal Government; the Chief Fiance Officer of NNPC, represented by the General Manager International Energy Relations, Mr Garba Hadejia; and the Executive Secretary, Federal Inland Revenue Service (FIRS), Mr Muhammed Manni, was to actualise the Executive Order 007.
Speaking at the occasion, Fashola said the executive order 007 was a strategic partnership with the private sector, according to him it was used to address the Obajano-Kabba road and the very difficult Apapa – Oworoshoki express way.
”Of course, when the order expired, we looked at the limitations of the existing order and recommendations were made to the president, some of which were to make the roads more diverse in their selection and another was that smaller companies could merge in groups to handle smaller roads.
‘’All of these were then factored in to the order that president Buhari signed as executive order 007 in 2019, the governance structure around it and how applications are made and so on and so forth.
“So, I think it’s important to make that clear application, because every so often when policies are made, it is misunderstood or requires further clarification, so this is not an order for one person it’s an order for all Nigerian businesses.
‘’ We’re now seeing the oil industry sector step in very sure footedly with over 600 billion naira to address over 21 roads that cover 1800 kilometre, that’s truly massive, it is a show of confidence by NNPC.
“We are also seeing interests in the Telecom sector, and we hope that this will carry on as a strategic expansion for private sector interest contributing to the development of Nigeria’s infrastructure.
‘’We’re also seeing interests in the Telecom sector, and we hope that this will carry on as a strategic expansion for private sector interest contributing to the development of Nigeria’s infrastructures,” Fashola said.
He added that a governance structure had been put in place to ensure that no contractor would ask for an increase in price and that FIRS has five days to certify all contractor certificates and NNPC had 30 days to pay up.
Fashola said this had given more confidence to contractors of the assurance to get paid and urged them to mobilise their staff, equipment, supplies back to site.
He was optimistic that the impact of the funding would be noticed before the commencement of the rainy season.
‘’Finally let me say that as we enter the peek of the yuletide season, there will be a lot of movement of goods, vehicles and persons on our highways as the number increases, we are also seeing an increase in speeding and increase in accidents.
‘’And, as such I appeal to the media to carry this message over that the maximum speed limit on all federal highways is 100km/h and shouldn’t be a kilometre higher.
‘’More importantly there’s an increasing tendency to use the phone while driving and this is an absolute no, as it puts the driver and other road users in danger, and we hope that if these two basic ideas are heeded to, we can really reduce the number of accidents on our roads,’’ Fashola said.
On his part, Mr Muhammed Manni, Executive Secretary, Federal Inland Revenue Service, said the investment in roads was a call on using tax payers’ income tax in fixing critical road infrastructure.
‘’This is also to support the fact that there is a social contract between the tax payers and the government and that is what the Federal Government is doing using order 007 to give value to the tax payers money.
‘’So, this is actually necessary for us to fix some of these critical roads because the annual budgetary allocation for these roads are not only minimal but absolutely insufficient so government has to come out with this in making sure that some of the roads were constructed.
‘’Some of these roads were in the 70s and 80s and are currently bad and need to be fixed in order for us to move goods, persons and farm products from one location to another without any obstruction.
‘’Secondly and most importantly to bridge the critical infrastructure gap that we face as a country,’’ Manni said.
Manni, therefore, commended the corporation for finding it necessary to invest in road infrastructure.
The Chief Finance Officer of the organization, Mr Umar Ajiya, said the condition of the road networks in the country was affecting their business.
‘’We are charged with the responsibility of providing the country with petroleum products, in the cause of doing that most of our pipelines have been vandalised which has resulted in haulage of this products through trucks.
‘’Which pass through many of these national road network and these road networks have suffered the same fate over the years and it is difficult for our tanker drivers to pass safely and easily to convey these products to the books and crannies of Nigeria.
‘’So it is on that note that we find this tax credit scheme a very important way by which we can step in to support the Federal Ministry of Works in funding these road networks, we are willing and ready to fund with 621billion,” he said.
He appreciated the government for the privilege to contribute to the sector with the scheme.
The Nigerian National Petroleum Company Limited (NNPC) on Tuesday debunked fake information that it was organising an ‘anniversary contest’ or recruiting staff.
The reaction was contained in a statement signed by its spokesperson, Garba Deen Muhammad.
“In the purported contest, unsuspecting participants are encouraged to carry out a survey by filling out a questionnaire on their knowledge of the Company, with the eventual winner standing the chance of winning some cash reward of up to $8,000 (Eight thousand dollars),” the statement said.
“The NNPC has nothing to do with the purported anniversary event contest and is advising members of the public to decline any participation in the survey as it is a SCAM.
“In the same vein, NNPC would also like to once again inform the public that the information circulating in the Social Media that NNPC is conducting a recruitment exercise IS NOT TRUE and the public should disregard it in its entirety.
“The NNPC hereby reiterates that whenever it decides to conduct a recruitment exercise or send out information to the public, it will do so through authentic public communication channels, particularly the NNPC’s website (www.nnpcgroup.com).”
