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Future of Nigeria’s Energy Industry Rests on Strong ESG Practices—Ojulari

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By Modupe Gbadeyanka

For Nigeria to remain competitive in the oil and gas industry and attract more investors, efforts must be made to adopt strong Environmental, Social, and Governance (ESG) practices.

This was the submission of the chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bayo Ojulari, at the 2025 Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS 2025) in Abuja, on Wednesday.

While delivering a keynote address themed Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investors and Incremental Production, Mr Ojulari noted that global investors and communities alike now judge energy companies not only by what they produce but how responsibly they produce it.

“Today, oil and gas companies are judged not only by what they produce, but how they produce it. Environmental stewardship, social responsibility, and sound governance are now critical metrics for accessing capital, winning community support, and sustaining growth.

“NNPC has initiated an Energy Transition Roadmap—reducing our carbon footprint, investing in gas as a transition fuel, and improving transparency.” he revealed at the event.

He also reaffirmed the company’s strategic direction towards value creation, competitiveness and efficiency as the foundation of its new business model, noting the renewed focus on operational excellence and investor confidence, driven by the provisions of the Petroleum Industry Act (PIA) and global market dynamics.

“With the Petroleum Industry Act (PIA), we now have a framework to transform our investment climate. NNPC is now operating under a new business model, focused on value creation, competitiveness, and efficiency. This includes restructuring joint ventures, monetizing assets, and investing in critical infrastructure across the value chain,” Mr Ojulari reiterated, stressing the need for stakeholder alignment to unlock stranded assets and boost incremental production through smarter, coordinated actions across the value chain.

He called for collaboration between PENGASSAN, labour unions, investors, government and industry stakeholders towards assuring stability, de-risking the environment and creating conditions for sustainable growth. Every additional barrel and gas molecule contributes directly to national prosperity and energy security, he added.

While commending PENGASSAN for its pivotal role in strengthening Nigeria’s energy workforce, the NNPC chief reaffirmed the organisation’s commitment to innovation, collaboration, and national development urging all stakeholders to embrace resilience as a deliberate choice for the future.

Earlier, the president of PENGASSAN, Mr Festus Osifo, said the long-term sustainability of Nigeria’s oil and gas industry hinges on a collective commitment to environmental stewardship, embedded in upholding robust corporate governance.

Mr Osifo commended President Tinubu for laying a strong foundation for achieving incremental production and attracting investment, citing the recent signing of executive orders aimed at shortening the contracting cycle, supporting non-associated gas development, extending the duration of third-party contracts and introducing performance-based tax incentives.

The PEALS Summit brought together senior government officials, industry captains, labour leaders, and stakeholders to deliberate on strategies to strengthen Nigeria’s oil and gas sector amid global energy transition pressures.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Lagos Free Zone, CEVA to Enhance Integrated Logistics in West Africa

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By Modupe Gbadeyanka

A strategic joint venture agreement has been signed between the Lagos Free Zone (LFZ) and CEVA Logistics. The deal will advance integrated logistics solutions in Nigeria and West Africa.

Under the agreement, a warehouse will be put in place within Lagos Free Zone, home to Nigeria’s Lekki Deep Sea Port. This facility positions importers to seamlessly access West African markets, particularly multinational manufacturers serving the region.

Importers leveraging the free zone warehouse facilities at Lekki Port will benefit from duty-free exports to the Economic Community of West African States (ECOWAS) markets, creating a streamlined and cost-effective logistics solution.

Because the logistics journey to this region requires a deep understanding of trade lanes, local port operations, and customs procedures, CEVA Logistics stands the chance to use its experience to deliver quality service to customers.

The JV will enable businesses to focus on their core operations while ensuring a seamless journey for goods from global origins to West African destinations.

According to the Vice President of Air and Ocean Product at CEVA IMEA, Jean-Baptiste Rambaud, the partnership will mark a new phase of enhanced logistics solutions, leading to a seamless journey for global trade in West Africa, a region with its dynamic and youthful population that represents a key growth market for global manufacturers, especially in the FMCG sector.

“Our targeted investments in Nigeria reflect our commitment to providing uninterrupted logistics services to our global clients exporting to West Africa, including ECOWAS.

“This free zone warehouse is the final piece in creating a seamless logistics journey for goods and products from around the world to West Africa,” Rambaud stated.

Also commenting, the chief executive of LFZ, Ms Adesuwa Ladoja, said, “By integrating Lekki Port, reliable industrial infrastructure, and efficient logistics solutions, we are building a logistics hub for West Africa. Collaborating with CEVA, a global leader in logistics, strengthens our ability to deliver on this vision.”

It was learned that the JV has been approved by the Federal Competition and Consumer Protection Commission (FCCPC) of Nigeria, with CEVA Logistics to hold a majority stake in the newly established entity.

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Court Affirms FCCPC Authority to Investigate Consumer Complaints

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By Adedapo Adesanya

The Federal High Court in Abuja has affirmed the powers of the Federal Competition and Consumer Protection Commission (FCCPC) to receive complaints, assess matters brought before it, and take appropriate lawful steps, including investigation where necessary.

In a judgment delivered on Monday by Justice James Omotosho, he dismissed the suit filed by Air Peace Limited challenging the commission’s authority to investigate consumer complaints and issue summons in the exercise of its statutory mandate.

Justice Omotosho affirmed the organisation’s powers under the Federal Competition and Consumer Protection Act, 2018 (FCCPA) to receive complaints, assess matters brought before it, and take appropriate lawful steps, including investigation where necessary.

Welcoming the decision, the chief executive of the FCCPC, Mr Tunji Bello, said the judgment provided useful clarity on the importance of regulatory oversight in protecting consumers and promoting fair market practices.

He noted that the matter arose from complaints relating to unrefunded ticket fares, cancelled flights, and other service concerns affecting passengers.

Mr Bello reiterated that consumers, who pay for services, were entitled to fair treatment, transparency, and redress in accordance with applicable law.

He further described investigation as an administrative process intended to establish facts and determine whether further action is warranted. It does not amount to a finding of liability or wrongdoing.

According to him, the commission is committed to engaging all market participants in a fair, professional, and transparent manner, while ensuring due process at every stage of its proceedings.

He encouraged businesses operating in Nigeria to cooperate with lawful regulatory processes and to maintain effective complaint resolution systems that address consumer issues promptly and fairly.

The FCCPC will continue to act within its statutory mandate to protect consumers, promote competitive markets, and strengthen confidence in essential service sectors, including aviation.

The Federal Competition and Consumer Protection Commission is Nigeria’s primary competition and consumer protection authority established under the Federal Competition and Consumer Protection Act, 2018.

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2025 Coup Scare: FG Files Charges Against Suspects

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By Adedapo Adesanya

The federal government has filed a 13-count charge before the Federal High Court, Abuja, against alleged plotters of a coup against President Bola Tinubu.

Among the suspects are a retired major general, a retired naval captain, a serving police inspector, and three others.

Recall that in January, the Nigerian armed forces confirmed that some of its personnel actually attempted to overthrow the government of President Tinubu in October 2025.

This followed speculations that the October 1 parade last year was abruptly cancelled due to an alleged attempt to remove Mr Tinubu from office by some members of the Armed Forces of Nigeria (AFN), with 16 persons arrested over the issue.

At the time, the Defence Headquarters said investigations had “identified a number of officers with allegations of plotting to overthrow the government” and would be “formally arraigned before an appropriate military judicial panel to face trial.”

“The comprehensive investigation process, conducted in accordance with established military procedures, has carefully examined all circumstances surrounding the conduct of the affected personnel. The findings have identified a number of officers with allegations of plotting to overthrow the government, which is inconsistent with the ethics, values and professional standards required of members of the AFN.

“Accordingly, those with cases to answer will be formally arraigned before an appropriate military judicial panel to face trial in accordance with the Armed Forces Act and other applicable service regulations. This ensures accountability while upholding the principles of fairness and due process.

“The AFN reiterates that measures being taken are purely disciplinary and part of ongoing institutional mechanisms to preserve order, discipline and operational effectiveness within the ranks. The Armed Forces remain resolute in maintaining the highest standards of professionalism, loyalty and respect for constitutional authority,” the statement read in parts.

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