TheNewsGuru

Tag: Oil

  • Cattle valuable than entire oil and gas reserve in Nigeria – Former Presidential Aspirant

    Cattle valuable than entire oil and gas reserve in Nigeria – Former Presidential Aspirant

    Former Presidential Aspirant, Adamu Garba has said cattle have more economic value than the entire oil and gas reserve in Nigeria.

    Garba said this in reaction to the advice given by the Miyetti Allah Cattle Breeders’ Association of Nigeria, Bauchi State chapter, which required its members to vacate the 17 states in Southern Nigeria.

    MACBAN gave the advice following a ban on open grazing issued by governors of the region after a meeting in Asaba, Delta State.

    Reacting, Garba said on Twitter, “I perfectly agree with this proposal. All Fulani present in Southern Nigeria should come back. We shall use the cattle, process the resources, and sell all over the world as finished goods.

    “Cattle have more economic value than the entire oil and gas reserve we have in Nigeria. Our major stakeholders in the North must admit cows as business opportunities not just culture & invest heavily to bring #CowToCurrency to reality. Cows alone can solve all Northern problems.

    “The job opportunities, the manufacturing centres, & the connection to global hubs of demands for the best cattle meats can open more doors and set for the liberation of Northern Nigeria from cheap and somewhat, useless oil assets. We must invest in harvesting the value of cattle.

    “A litter of Cow at N350 is much more than the value of a liter of oil at N145. With over 20 million cows, take 1/3 as milk-producing female on average of 5 liters a day, we’ll have almost N12Bn/day from cow milk. That’s about N700M/state/day. About N21Bn/State/Month.

    “That is much higher than the Monthly Allocation the largest state receives in the North. Again, each cow can generate a minimum of 3 Jobs. Rearing, Slughtring, Processing, marketing, Selling, and management. 5M cows =15M jobs.

    “I marveled at the laziness of Northern Governors. Northern Governors think awarding contracts for building roads, taking their cuts is all they need for themselves. Doing so has subjected the North to condescension and dehumanization from some elements in the South. The time is now for them to wake up to our potentials.

    “It is becoming increasingly clear that the 2023 election is a game between cattle states & non-cattle states. Let’s be blunt about this. If Northern leaders do not wake up to this urgent reality, the target will not just be the cow, but the cow harboring states & their adherents”.

  • Sen. Magnus Abe warns Nigeria on dangers of delay in PIB passage

    Sen. Magnus Abe warns Nigeria on dangers of delay in PIB passage

    A former senator and chieftain of All Progressives Congress, Magnus Abe has warned Nigeria on the dangers of further delay in the passage of Petroleum Industry Bill (PIB) in Nigeria.

    Abe who leaned on the opening remarks ( READ HERE: #TNGPIBConfab: Nigeria cannot waste anymore time in enacting PIB law – Bayagbon ) of TNG’s Publisher/Chief Host Mideno Bayabgon at a one-day colloquium on PIB said Nigeria may suffer without quick enactment of PIB as the world is set to move away from petroleum.

    The Stone Age didn’t end because we ran out of stones; the Age of Steaming did not end because world ran out of coals, it ended because the world moved to something else. Today the world is set to move away from petroleum, whatever we are doing now is of a limited plan.

    He urged the Nigerian government to draft a development plan that will channel the new wealth created from revamping petroleum sector into infrastructural projects that will provide a new future for Nigeria

    If we continue to spend on our recurrent expenditures, both the host communities and Nigeria will continue to wallow in poverty

    His words: “We are happy that after so many years of speculations and wrong turns, the PIB may finally see the light of the day. But like every other law, the PIB is not a silver-bullet that will solve all Nigeria’s problem or that of the country’s oil and gas industry. The will still be challenges down the roads but one major challenge is the integrity of implementing the laws, if those who are to interpret and enforce the law are not sincere at the end of the day we will be back where we started from, no matter how good our laws maybe.

    “I will like us to recall how a foreign company attempted to steal money from Nigeria using Nigerians laws and institutions. The Nigerian government hired a lawyer but the lawyer chose to represent the interest of the foreign company. This lawyer in question started funneling monies from the foreign companies to our national representatives in Nigeria just to distort the narrative in favour of the foreigners, so they could steal our money; PIB could suffer the same thing if we don’t take care of things we call ‘Nigeria factor

    “The second thing I will like to discuss about is the issue of host communities. For me, I will agree with those who say we should concentrate on getting host communities 10% derivation funds from total production, as against operating costs; getting the dues from total production offers the people of Niger Delta more opportunities

    Speaking as a Nigerian, we have been producing oil since it was discovered in Oloibiri in Bayelsa, everybody knows Nigeria has made billions, trillions of dollars in Nigeria but today, we are the capital of poverty in Nigeria. As we discuss the PIB today we are pressing the reset button to give Nigeria a new lease of life in the oil industry, we are running against time, In California and all across Europe they are already passing laws to limit filling stations as a direct measure to curb the dangers of hydrocarbon in their territory. The petroleum days is coming to an end.

    The Stone Age didn’t end because we ran out of stones; the Age of Steaming did not end because world ran out of coals, it ended because the world moved to something else. Today the world is set to move away from petroleum, whatever we are doing now is of a limited plan. We must make use of this second chance to create new opportunities for our country, we need a development plan that will channel the new wealth created from revamping petroleum sector into infrastructural projects that will will provide a new future for Nigeria; but if we continue to spend on our recurrent expenditures, both the host communities and Nigeria will continue to wallow in poverty.

     

     

  • #TNGPIBConfab: Dakuku reveals key factors needed to fully unlock potentials of PIB in Nigeria

    #TNGPIBConfab: Dakuku reveals key factors needed to fully unlock potentials of PIB in Nigeria

    The immediate past director-general of Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside has listed two key factors needed to be accommodated in the Petroleum Industry Bill (PIB) to fully unlock gains of the petroleum sector in Nigeria.

    Dakuku who made the revelations yesterday at a one day colloquium organised by TheNewsGuru (TNG), entitled, ‘PIB: finally getting it right and breaking the 20-year hiatus’ stressed that an efficient regulatory system will make Nigeria’s oil and gas industry competitive, attract investors and create more jobs for our youth as well as open newer opportunities for the country.

    Optimistic that PIB will crush the monopoly of the Nigerian National Petroleum Corporation (NNPC), he however, noted that their are two things that might hinder the functions of deregulatory bodies as captured in the PIB.

    Addressing the problematic areas that needed be resolved in the PIB, Dakuku advised that the excessive powers given to the ministers in the PIB should be reduced and also posited that regulatory bodies created under the new PIB era should be given quasi legislative and quasi judicial roles to ensure they function independently and efficiently.

     

    “A regulatory body apart from the executive roles it plays requires lots of quasi legislative, quasi judicial, they should be given some powers to make decision on their own without coming back to the court or going to the legislative for legislative supports. With the quasi legislative and quasi judicial function, such regulatory body will be independent and efficient but without it, a failure is inevitable”

    Read Dakuku’s rich comments on regulatory bodies that will be set up in pursuant of the passage of the PIB: “I will be speaking on the critical issue of the regulatory bodies that will be set up in pursuant of the passage of the PIB and how it will impact our lives as Nigerians, you will recall that over a long period we have had the Nigerian National Petroleum Corporation (NNPC), have played the role of a regulator and an operator. Historically, the PIB is about to break the monopoly of NNPC; So I am a bit surprised when people don’t expect resistant, there will be resistant when you attempt to break a monopoly anywhere in the world, even in China where you have lots of monopolies and the reason is because people benefit from monopolie

    “What the PIB sets to do is to break down the NNPC monopoly and establish independent regulatory bodies and this is in line with global trends, where the world is migrating towards a private sector or a market driven oil and gas industry, this is the only ay to optimise benefits in te sector. The PIB propose to set up three important regulatory bodies – the Nigerian Upstream Regulatory Commission (the “Commission”) and the Midstream and Downstream Regulatory Authority (the “Authority”) create frame work for tariff and pricing; and establishment of a new intervention Fund to be called the Midstream Gas Infrastructure Fund

    “What will these independent regulatory bodies do? These institutions it will enhance greater compliance to industry regulation boost, promotes transparency and drive competition. Once there is competition in the industry, it increase efficiency and effectiveness of the system, once these are in place they system will attract investment, once investors come, there will be competition and this will crash price of goods and service. This is what the regulatory independent system does, it will make the Nigeria’s oil and gas industry competitive, this will create right environment, attract investors and create more jobs for our youth.

    “However, there are two things that might affect the PIB. Firstly, the act gives a lot of powers to interfere into the affairs of the regulatory bodies, we need to look at how to reduce the powers as apportioned to a minister in the proposal. If you don’t have a minister with good intention, such minister can abuse the power of ‘Minister’s intervention”

    “A regulatory body apart from the executive roles it plays requires lots of quasi legislative, quasi judicial, they should be given some powers to make decision on their own without coming back to the court or going to the legislative for legislative supports. With the quasi legislative and quasi judicial function, such regulatory body will be independent and efficient but without it, a failure is inevitable”

  • FG to reactivate moribund oil, gas support facilities

    FG to reactivate moribund oil, gas support facilities

    Mr Sarki Auwalu, Director, Department of Petroleum Resources (DPR), says the Federal Government is committed to reactivating all moribund oil and gas support facilities across the country.

    Auwalu said this was part of the government’s effort to increase domestic refining capacity and gas utilisation in order to curb unemployment and poverty in Nigeria.

    Auwalu spoke on Monday during an assessment visit to Kaztec Engineering Ltd. Fabrication Yard, Ilase Village, Snake Island, in Amuwo-Odofin Local Government Area of Lagos State.

    He expressed dissatisfaction that the facility which was licensed to provide oil and gas services support by the DPR had not been operational since 2015 due to contractual issues.

    Auwalu noted that some of the critical equipment in the facility were currently owned by the Nigerian National Petroleum Corporation but were not being utilised for the benefit of Nigeria and Nigerians.

    The director said: “The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector.

    “Our visit here is to see an edifice that we licensed and it is dormant, but we are going to make it active because we see it as an opportunity to grow the oil and gas industry.

    “We have seen an opportunity we can use to support our gas utilisation, penetration and expansion programme.

    “We have issued several licenses for modular refineries that needs fabrications. We cannot allow this kind of facility to remain under-utilised.

    Auwalu said some of the fabrication jobs that could be done at the facility were being shipped to China which was not good for Nigeria’s economy.

    He added that plans were also ongoing to double the contribution of the oil and gas sector to the nation’s Gross Domestic Product to about 15 per cent from the current eight per cent.

    Earlier, Mr Mike Simpson, Engineering Director, Kaztec Engineering Ltd., said the facility became dormant in 2015 after its main contractor, Addax Petroleum, declared a force majeure on its operations.

    Simpson said some of the unutilised equipment in the facility included a Dive Support Vessel, Pipe Laying Vessel and an already constructed Jacket which could be used for oil and gas operations.

    He said the facility when it was operational had 2,000 direct employees and 7,000 indirect employees which had direct impact on the host community and its environs.

  • We’ve found oil in Northeast, production starts soon, says Buhari’s petroleum minister

    We’ve found oil in Northeast, production starts soon, says Buhari’s petroleum minister

    The Minister of State for Petroleum Resources, Timipre Sylva, has revealed plans by the Federal Government to begin oil exploration in the northeast.

    Speaking during a recent interview on Channels Television’s on Monday, Sylva said: “I have said it a few times that we have found oil in the northeast and we have started drilling activities in the Lake Chad Basin,” he said.

    “I don’t know how the discovery of oil in the area will impact all the issues there but on our side, we believe that in a very short time, we will start production.”

    The Minister also lamented that the COVID-19 pandemic has changed the world’s narrative, including the oil and gas industry.

    He recalled that the recent meeting held by the Organisation of Petroleum Exporting Countries (OPEC) in which Nigeria is a member was held virtually, noting that such meetings were not envisaged before the COVID-19 era.

    Sylva also reacted to the piracy, oil bunkering and illegal refining in the oil-producing region, saying such activities had reduced when compared to what was obtained in the past.

    “Pipeline vandalisation is less than it used to be. Before now, we had less than 50 per cent production, I can assure you that pipeline vandalisation is less than it used to be. If you compare what happens now with what obtains in the past, I think it is less now.

    “There is still a lot of piracy I understand, but the law enforcement agencies are dealing with it. We are looking at other ways of dealing with it and believe that in a very short time, we will be able to get the full handle on it,” he added.

    Speaking on the gas conversion, the Minister explained that the policy was necessitated by the Federal Government issuing an alternative to Nigeria following the deregulation of oil that will lead to the rise in oil prices.

    While noting that gas is a cleaner and more efficient fuel, the Minister regretted previous administrations had not developed the nation’s gas, stressing that Nigeria’s gas penetration is the lowest in Africa.

  • NNPC posts N28 billion trading surplus

    NNPC posts N28 billion trading surplus

    The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020, posting a trading surplus of ₦28.38 billion.

    This is contained in a statement signed and released on Sunday by Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division of the NNPC Towers.

    According to the statement, the $120.49 million crude oil and gas export receipt is a 16.28 per cent improvement on the $100.88 million posted in August 2020.

    The figure is contained in the September 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), Obateru stated.

    The report showed that out of the figure, proceeds from crude oil amounted to $85.40 million while gas and miscellaneous receipts stood at $25.31 million and $9.78 million respectively.

    The September 2020 MFOR also indicated a trading surplus of ₦28.38 billion slightly lower than the ₦29.60 billion surplus in August 2020.

    The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian Petroleum Development Company (NPDC), which recorded zero crude oil lifting from the Okono Okpoho facility during the month due to ongoing repairs.

    “However, other NNPC subsidiaries namely the Integrated Data Services Limited (IDSL), National Engineering and Technical Company Limited (NETCO), Nigerian Gas Marketing Company (NGMC), Petroleum Products Marketing Company (PPMC) and NNPC Retail posted impressive trading results recording 268%, 234%, 21%, 422% and 41% trading surpluses respectively over their previous month’s performance.

    “In the gas sector, a total of 223.82billion cubic feet (bcf) of natural gas was produced in the month under review translating to an average daily production of 7,460.80million standard cubic feet per day (mmscfd).

    “For the period September 2019 to September 2020, a total of 3,039.05bcf of gas was produced representing an average daily production of 7,730.35mmscfd during the period. Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.10%, 20.29% and 10.61% respectively to the total national gas production.

    “Out of the 221.91bcf of gas supplied in September 2020, a total of 140.45bcf was commercialized, consisting of 36.37bcf and 104.08bcf for the domestic and export markets respectively.

    “This translates to a total supply of 1,212.17mmscfd of gas to the domestic market and 3,469.45mmscfd of gas supplied to the export market for the month.

    “This implies that 63.29% of the average daily gas produced was commercialized while the balance of 36.71% was re-injected, used as upstream fuel gas or flared. Gas flare rate was 6.66% for the month under review (i.e. 492.93mmscfd compared with average gas flare rate of 5.84% i.e. 439.90 mmscfd for the period of September 2019 to September 2020).

    “To ensure effective supply and distribution of Premium Motor Spirit (PMS) across the country, a total of 0.59bn litres of PMS translating to 19.59mn liters/day was supplied for the month in the downstream sector.

    “During the period under review, 21 pipeline points were vandalized representing about 43% decrease from the 37 points recorded in August 2020.

    “Of this figure, Mosimi Area accounted for 90% of the vandalized points, while Port Harcourt Area accounted for the remaining 10%. NNPC, in collaboration with the local communities and other stakeholders, continuously strive to reduce and eventually eliminate this menace.

    “The 62nd edition of the MFOR highlights NNPC’s activities for the period of September 2019 to September 2020.

    “In line with the Corporation’s commitment of becoming more accountable, transparent and driven by performance excellence, the Corporation has continued to sustain effective communication with stakeholders through the MFOR and other reports published on its website and in national dailies,” the statement reads.

  • Oil prices hit nine-month high

    Oil prices hit nine-month high

    Oil prices hit a nine-month high early on Thursday after U.S. government data showed that crude stockpiles fell last week and on optimism over a coronavirus relief package in the United States.

    Brent crude futures rose by 28 cents, or 0.6%, to $51.36 a barrel at 0116 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose by 27 cents, or 0.6%, to $48.09 a barrel. Both benchmarks hit their highest since early March.

    U.S. crude inventories fell by 3.1 million barrels in the week to Dec. 11, the Energy Information Administration said. This was more than analysts’ expectations of a 1.9-million-barrel drop, after stockpiles surged in last week’s data.

    “U.S. production also fell… the first time since late October,” ANZ analysts said in a note on Thursday.

    Refinery crude runs fell by 253,000 barrels per day in the past week, EIA said. Refinery utilisation rates fell by 0.8 percentage point in the week.

    Also boosting oil prices, the Fed said on Wednesday it would stick with its policy of low interest rates while legislators moved closer to agreeing on an additional $900 billion of COVID-19 aid, including $600 to $700 stimulus checks and extended unemployment benefits.

    The United States on Thursday also expanded its campaign to deliver COVID-19 vaccine shots into the arms of doctors and nurses on the frontlines of a pandemic that has killed more than 2,500 Americans a day, which also supported oil prices.

  • Ugborodo requests for N12.31b accruals from oil servicing firm

    Ugborodo requests for N12.31b accruals from oil servicing firm

    Ugborodo community in Warri Southwest council area of Delta State has urged the Economic and Financial Crimes Commission (EFCC) to help it in retrieving N12.31 billion from JAD Group, an oil service provider company.

    The community, in a petition signed by three representatives, under the aegis of Ugborodo Community Leaders/Stakeholders, alleged that the services provider company, through alleged underhand tactics and connivance from some community elements, denied the community its legitimate proceeds of contracts meant for it (the community).

    The petition, signed by Pastor Benson Babine, Mr. James Debbi Kaka, and Prince D.O. Omunu, the community claimed that it appointed one of JAD Group’s company, JAD Catering Services Limited to represent it in contract execution in respect of projects given to it by one of its tenant major oil company, Chevron Nigeria Limited (CNL).

    The companies, owned by a Lebanese businessman, Jaffal Mohammed Rydah, were said to have been introduced and nominated for business in Chevron operations in Escravos by Ugborodo community for catering services contract during the Escravos Gas Project construction, where it was feeding more than 13,000 people and later in the Chevron Escravos Tank Farm.

    The petition demanded that labour and equipment supply contracts were later, over the years, added to the representative portfolio of the company by the managers of the community on the basis of which all equipment contracts in pick up vans, forklifts, trailers, barges, house boats, cranes, and other forms of equipment, that Ugborodo indigenous contractors could not handle were given to JAD Companies to supply.

    However, the petition claimed that the company had been evading in remitting to the community its share of the profits from the contracts, which according to the petition, was agreed to be 30% to the community purse, 10% to those who promoted the company to becoming sole contractor on behalf of the community and 60% to the company.

    According to the petition, in defaulting to remit to the community with regards to proceeds from an equipment supply contract, which started since July 2016, JAD group had been owing as much as N12,309,230,000, an amount it claimed would go a long way in salvaging some of the environmental misfortunes its people had lived with over the years.

    “After the execution of this MoU and the contract was going on and appropriate payments were not coming to Ugborodo community, Pa Sandys Omadeli-Uvwoh (of blessed memory), one of the ‘promoters’ of the negotiations, who became aware of this inglorious and fraudulent activities of the JAD Group, issued a letter dated 21st January to the Managing Director of JAD Construction Ltd…

    “JAD Group, again, through intrigues, scheming and collaboration, sponsored protests in which some Ugborodo people unfortunately lost lives, but was able to whip up sentiments to become Ugborodo community sole nominated contractor.

    “The leadership of Ugborodo Community Trust keyed into this sentiment and thus recommended and nominated JAD Group and sole contractors for equipment supplies.

    “From our modest calculations, what JAD Group is owing and should pay Ugborodo in naira for Jack-up barges (SEWOPS) contract with CNL, using N305 to the dollar and naira, for other equipment in Chevron Terminal and EGTL operations amount to more than N12,309,230,000.00 (twelve billion, three hundred and nine million, two hundred and thirty thousand naira).

    “This huge sum of money would drive the developmental needs of Ugborodo community, particularly in the areas of erosion, flood control and shore protection, that are critical challenges seriously confronting the community.

    “From the commencement of oil exploration and exploitation by Gulf Oil Coy Nig. Ltd, now Chevron Nig Ltd and the other oil companies in the last fifty (50) years, Ugborodo community has lost more than 200 metres of the land on its shoreline

    “The community is facing extinction to which governments are not paying much attention, but with our funds in the possession of the JAD Group through the opportunity created by NAPIMS (NNPC), the community is willing and ready to carry out the all important shore protection project by itself”, the petition read in part.”

     

  • FG stops South South Governors from meeting over Zamfara gold, Niger Delta oil

    FG stops South South Governors from meeting over Zamfara gold, Niger Delta oil

    Leaders of the South South geopolitical zone have demanded public apology from the Federal Government over botched stakeholders meeting in Port Harcourt on Tuesday.

    Governors of the South South led by its Chairman and Governor of Delta, Senator Ifeanyi Okowa, who were in Port Harcourt for the meeting, had informed the stakeholders comprising traditional rulers, religious leaders, opinion leaders, youths and women from the zone that the Presidential delegation which convened the meeting, had cancelled it.

    Okowa, who spoke for the governors, informed the people that the Presidency gave an emergency security meeting called by President Muhammadu Buhari as reason for cancelling the PortHarcourt meeting.

    Irked by the information, the stakeholders expressed displeasure with the development, describing it as disrespect to the people of the region and called for an immediate public apology from the Presidency.

    They said that the action of the Federal Government amounted to treating the South-South and its people with disdain, and warned on the consequences of undermining the zone.

    But in a solemn appeal to douse tension, Governor Okowa implored the people to remain calm in the face of the disrespect and embarrassment caused by the cancellation of the meeting.

    He said that the governors were as pained as the other stakeholders over the disappointment, and assured that the governors would definitely convey the feeling of the people of the region to the Presidency.

    “We understand the anger in you, and on our own part as governors, we are also angry because the South-South zone is a very important part of this nation.

    “There is no doubt that we the governors also feel insulted and we feel very sad and touched at what has happened.

    “We felt it was necessary to consult with you as critical stakeholders because if we had acted on the information without consulting you, that would have added to the insult already meted to us.

    “Together we call for a public apology because the meeting was not called at our instance; it was called at the instance of the Presidency.

    “Some of us didn’t sleep trying to put things in order to make this meeting a reality.

    “We will convey this message to the Chief of Staff to the President that as a region we deserve public apology, particularly to our traditional rulers and opinion leaders and also to the Governors that you voted into office.

    “This is the least we expect before this meeting can be reconvened,” Okowa stated.

  • Isoko group queries Zamfara gold deal with CBN

    Isoko group queries Zamfara gold deal with CBN

    A flagship socio-political organization of the Isoko nation known as the Isoko Advancement Network (IAN) has warned that the inequalities in the handling of the exploitation of natural resources in Nigeria can trigger youth restiveness in the Niger Delta.

    The group expressed disappointment with the leadership of the National Assembly for blowing a muted trumpet when the matter regarding the sale of gold worth N5 billion by Zamfara State to the Central Bank of Nigeria was raised on the floor of the Senate by the Deputy Senate President, Senator Ovie Omo-Agege.

    In a statement signed by the Chairman of IAN, Chief Paul John Odhomor, the group noted that the deafening silence of the Senators by deliberately refusing to debate the issue on the floor of the Senate sends dangerous signals to the people of the Niger Delta region that contributes so much to the national GDP.

    The statement reads: “The IAN is aware that solid mineral is one of the items in the Exclusive Legislative List of the 1999 Constitution (as amended) like oil and gas. It is incredible that the man from Gusau can sell gold directly to the apex bank and an Isoko man from the Niger Delta cannot sell crude oil and gas directly to the NNPC.

    “The IAN frowns at this negative development and warned that this kind of inequalities in the handling of the exploitation of natural resources in Nigeria can trigger youth restiveness in the Delta. The IAN noted that the youths of the Niger Delta region are already agitated as there was no justification for the criminalization of their activities with oil and gas facilities in the region while their Zamfara counterparts approaches the vault of the CBN as off takers of their gold.

    “The Isoko Advancement Network called on the Federal Government to implement relevant policies towards solid mineral exploration and exploitation with a view to improving the balance sheet of the Country”.