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NNPC Cuts Costs, Saves $3.4bn via Contract Restructuring

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By Adedapo Adesanya

The Nigerian National Petroleum Company (NNPC) Limited has saved $3.4 billion through a comprehensive contract restructuring and optimisation programme, according to its chief executive, Mr Bayo Ojulari.

This marks one of the company’s most significant efficiency gains since its transition into a commercially driven entity under the Petroleum Industry Act, PIA.

The state oil company’s head disclosed this while presenting the company’s one-year performance scorecard at the opening of the 25th NOG Energy Week in Abuja, where he outlined improvements in production, revenue generation, operational efficiency and investor confidence.

According to Mr Ojulari, the contract review programme eliminated operational waste, strengthened commercial discipline and lowered costs without disrupting production, demonstrating that efficiency-driven reforms can deliver stronger financial returns while enhancing competitiveness.

He said the company’s operational performance improved significantly over the past year, with crude oil production rising by six per cent to 569.7 million barrels, while gas production increased 8.1 per cent to 2.576 trillion standard cubic feet.

He revealed that government revenue generated by the company also climbed 21.8 per cent to N19.5 trillion during the review period.

Mr Ojulari disclosed that Nigeria’s crude oil production has increased to about 1.71 million barrels per day, the highest level recorded in five years, while NNPC Exploration and Production Limited (NEPL) achieved a record output of 365,000 barrels per day.

He reaffirmed the company’s production targets of two million barrels per day by 2027 and three million barrels per day by 2030, alongside plans to increase gas production from the current 7.62 billion cubic feet per day to 10 billion cubic feet by 2027 and 12 billion cubic feet by 2030.

The NNPC helmsman attributed the stronger production performance to improved operational stability, enhanced security and the restoration of critical oil infrastructure across the Niger Delta.

He revealed that Nigeria’s major crude export terminals achieved an average 98 per cent operational recovery between April 2025 and May 2026, a sharp turnaround from the severe disruptions experienced in 2022.

He added that key evacuation pipelines, including the Trans Niger Pipeline, Trans Escravos Pipeline, Trans Ramos Pipeline, Trans Forcados Pipeline and the Oando-Brass Pipeline, are now operating at full availability, significantly improving crude evacuation and boosting confidence among producers and investors.

Mr Ojulari also announced that NNPC maintained 100 per cent compliance with all Joint Venture (JV) cash-call obligations throughout 2025 and into June 2026, describing the achievement as a critical factor in sustaining investor confidence and preventing project delays.

However, he noted that while NNPC fulfilled all its funding commitments, some JV partners remained in default, increasing the company’s financial burden in several operations.

Beyond production, NNPC recorded major commercial milestones, including the execution of long-term Gas Sale and Purchase Agreements (GSPAs) covering 1.29 billion standard cubic feet per day of LNG feed gas and an additional 750 million standard cubic feet per day for domestic industrial gas supply to DFL FZE and the Dangote Refinery.

The company said the agreements are expected to unlock more than $20 billion in associated investments, with seven additional commercial transactions currently under negotiation.

Mr Ojulari further highlighted governance reforms introduced over the past year, including the resumption of monthly remittances to the Federation Account from July 2025, the restoration of monthly business performance reporting and the company’s first earnings call in November 2025, measures aimed at strengthening transparency and investor confidence.

Addressing industry stakeholders, Ojulari urged African governments, financiers, regulators and energy companies to deepen strategic partnerships to unlock the continent’s vast energy resources.

He observed that despite holding about 17 per cent of global natural gas reserves, Africa continues to attract only a small share of global energy investment, stressing that stronger collaboration across the public and private sectors will be essential to drive industrialisation, improve energy security and maximise long-term value from the continent’s natural resources.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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EMERGE Launches Career Platform to Connect Talents with Skills, Mentors, Employers

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By Adedapo Adesanya

EMERGE, an acceleration platform powered by TheBoardroom Africa, has launched its digital platform to connect young African professionals with the skills, networks, structured support, and employer opportunities they need to build sustainable careers.

Industry stakeholders say Africa’s challenge is no longer a shortage of talent but the lack of systems that enable skilled professionals to advance their careers. Despite having the technical expertise and ambition, many workers struggle to access the mentorship, professional networks, career development programmes, and employer connections needed to sustain long-term career growth.

EMERGE will bring together the elements of career development, including structured learning, professional diagnostics, mentorship, peer support, employer engagement, and access to opportunity.

According to a statement, the organisers said – for professionals, EMERGE provides greater clarity, confidence, skills, visibility, and support to progress with intention. For employers, it creates access to a stronger, better-prepared, and more visible talent pipeline. For the wider economy, it helps more of Africa’s young professionals move into roles where they can contribute, lead, and grow, strengthening organisations and labour markets across the continent.

Developed with support from the Mastercard Foundation, EMERGE is already home to a growing community of more than 1,700 young African professionals, creating a powerful network of emerging talent across the continent. Around six in ten EMERGE members are women, reflecting a deliberate commitment to widening access for talented professionals who are too often overlooked by traditional career pathways. Open to professionals across the continent, EMERGE is building a more inclusive and representative pipeline for Africa’s next generation of leaders.

Speaking at the launch, the chief executive of TheBoardroom Africa, Mrs Marcia Ashong-Sam, said, “The issue has never been a lack of capable talent in Africa. The real challenge is that access to opportunity remains uneven, and career progression is too rarely supported in a structured, intentional way. EMERGE was created to change that. We are building the career infrastructure that too many young professionals have had to navigate without: a platform that helps them translate ambition and ability into sustainable, meaningful careers, while connecting employers to a stronger and better-prepared pipeline of African talent.”

The platform gives members access to a dynamic mix of live masterclasses led by industry practitioners, career-focused programming designed to build resilience and progression, self-paced courses through its Learning Hub, and thoughtfully selected career opportunities with some of Africa’s most innovative employers.

The EMERGE journey begins with the Leadership Compass, the platform’s proprietary baseline assessment, which gives each member a clearer view of where they are in their professional journey and where focused development could unlock the greatest growth. Insights from the assessment help shape a more personalised pathway through the EMERGE experience.

For employers, EMERGE offers a seamless way to invest in professional development at scale. Organisations can enrol staff cohorts on the platform, giving their teams continuous access to high-quality career development tools, masterclasses, learning pathways, and progression-focused support through the programmatic rhythm of the EMERGE experience.

Employers also benefit from aggregate cohort insights, enabling them to track progress, understand development priorities, and make more informed decisions about talent growth, retention, and internal mobility. In this way, EMERGE becomes more than a learning platform; it becomes a practical development pathway for building stronger, more prepared leadership pipelines from within.

Mrs Ashong-Sam added, “The needs of employers and professionals are closely connected. Employers want people who can grow with the business, contribute to strategy, and take on greater responsibility over time. Professionals want work that gives them progress, purpose, and financial stability. EMERGE brings both sides into the same conversation, with a focus on readiness, development, and opportunity.”

The platform reflects TheBoardroom Africa’s wider work to strengthen leadership ecosystems across the continent. Over the past decade, the firm has worked with senior executives, board leaders, and institutions across African markets and globally, giving it direct insight into the gaps that begin much earlier in people’s careers. EMERGE applies that experience at an earlier stage, supporting professionals before they reach senior roles and building a stronger pipeline of talent prepared for greater responsibility and decision-making.

EMERGE is open to professionals across Africa and will continue to expand its membership while engaging employers looking to strengthen their talent pipelines.

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Gbajabiamila Leads Presidential Working Group on State Police

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By Adedapo Adesanya

President Bola Tinubu on Tuesday inaugurated the Presidential Working Group on the National Policing Bill to prepare the legal framework for the implementation of state police across the country.

President Tinubu, represented by his Chief of Staff, Mr Femi Gbajabiamila, inaugurated the panel at the Presidential Villa, Abuja.

The inauguration followed the National Assembly’s passage of the Constitution Alteration (State Police) Bill, 2026, in which the President proposes a dual policing structure comprising the Federal Police Service and 36 State Police Services.

The President said that while the constitutional amendment creates the framework for state police, the National Policing Bill would provide the legal structure for its implementation.

“The Constitution Amendment Bill establishes the framework for dual policing, but it does not operationalise it. That work is left to the National Policing Bill.”

He said the proposed legislation would address issues necessary for a smooth operationalisation of the State Police system.

“The proposed National Policing Bill will include provisions on minimum policing standards, state readiness certification, federal-state coordination, accountability, human rights safeguards and fiscal conditions.”

The President said that the committee will produce an implementation-ready draft bill immediately after the constitutional amendment process.

“The Working Group has been constituted to produce a technically robust, implementation-ready draft National Policing Bill for transmission to the National Assembly,” President Tinubu said.

He said the committee was necessary to avoid delays after the State Police bill passed.

“We must not wait until the constitutional process is concluded before beginning this important assignment,” he said.

Mr Gbajabiamila will serve as the committee’s chairman. Members include the Attorney-General of the Federation, the President of the Nigerian Bar Association (NBA), the Chairman of the Nigeria Governors’ Forum (NGF), the National Security Adviser, the Inspector-General of Police, the Chairman of the NGF Committee on State Police. A Secretariat will offer some administrative assistance to the committee.

Governor Dapo Abiodun of Ogun State, on behalf of the NGF, pledged governors’ support for the speedy implementation of the reform.

He said the plan is for the 36 state governors to accelerate work on the bill once it reaches their respective Houses of Assembly and is passed unanimously.

Mr Abiodun described the proposed state police as a response to Nigerians’ long-standing demand for community-based policing.

“This bill has answered the cries of Nigerians about cascading policing and removing it from the Exclusive Legislative List.”

He said the initiative validated the success of regional security outfits such as Amotekun in the South-West.

Mr Abiodun said the state police would significantly increase the number of security personnel nationwide.

“If each state deploys about 6,000 personnel, we will add nearly 200,000 officers to complement the existing federal police.”

The Governor commended President Tinubu for initiating implementation plans before the constitutional amendment process was completed.

“This inauguration demonstrates the proactiveness of the Executive in preparing for effective implementation,” Mr Abiodun said.

The Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, described the initiative as timely in view of Nigeria’s security challenges.

“There is no denying the fact that we are in a critical moment security-wise, and all hands must be on deck,” he said.

Mr Fagbemi urged governors to ensure speedy ratification of the constitutional amendment by their respective state assemblies.

“I appeal to the governors to do their utmost to ensure the early passage of the constitutional amendment because this is a shared responsibility,” he said.

President of the Nigerian Bar Association, Mr Afam Osigwe, reaffirmed the association’s support for the state police initiative.

“Nigeria can hardly be effectively policed by one national police. We fully support the constitutional amendment providing for state police,” he said.

Mr Osigwe, however, stressed the need for adequate legal safeguards to prevent abuse of state police.

“We must ensure we do not create a monster. The right legal framework must guarantee accountability and prevent oppression,” he said.

He pledged the NBA’s commitment to supporting the committee in producing legislation that will strengthen security while protecting citizens’ rights.

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NMDPRA Begins Stakeholder Talks on Cost-Reflective Petrol Pricing

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By Adedapo Adesanya

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has commenced consultations with industry stakeholders on the implementation of a cost-reflective pricing framework for Premium Motor Spirit (PMS), also known as petrol.

The move is aimed at promoting stability, transparency and long-term sustainability in Nigeria’s downstream petroleum sector.

The high-level stakeholder engagement brought together marketers, operators and other industry participants to deliberate on a pricing regime that reflects prevailing market conditions while balancing the interests of consumers, investors and petroleum operators.

According to the authority, the initiative follows a similar consultative approach recently adopted to address price distortions in Nigeria’s domestic liquefied petroleum gas (LPG) market.

Speaking on this, the regulator’s chief executive, Mr Rabiu Umar, said the engagement was designed to encourage transparent and solution-driven dialogue on emerging challenges in the downstream sector.

“The engagement was designed to foster transparent, inclusive, and solution-oriented dialogue with stakeholders to address emerging industry challenges, strengthen market surveillance, and enhance Nigeria’s energy security through a more efficient and resilient downstream market,” Mr Umar said.

The meeting was led by the Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, who received recommendations from stakeholders and reaffirmed the federal government’s commitment to building a competitive downstream petroleum industry.

Mr Lokpobiri said the government would continue to work closely with industry players to implement policies that promote investor confidence while safeguarding consumers.

“The federal government will continue to collaborate with all stakeholders to implement policies that inspire investor confidence, protect consumers, ensure fair market practices, and support Nigeria’s long-term economic growth and energy security,” the minister said.

He added that the stakeholder engagement would continue until an acceptable pricing framework is achieved.

He also assured everyone that this strategic engagement would be an ongoing drive until a satisfactory outcome is achieved in the near term.

The NMDPRA said the consultations form part of ongoing efforts to deepen market efficiency, strengthen energy security and establish a transparent pricing framework capable of supporting sustainable investment across Nigeria’s downstream petroleum industry.

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