General
Gas Flaring Drops 13.6% to 260.3b SCF Valued at N362.9bn in 2022
By Adedapo Adesanya
The volume of gas flared by oil and gas companies operating in Nigeria in 2022 dipped by 13.6 per cent to 224.9 billion standard cubic feet (SCF) compared with 260.3 billion SCF of gas flared in the 12-month period of 2021, according to statistics released by the National Oil Spill Detection and Response Agency (NOSDRA).
NOSDRA, in its latest gas flare statistics, disclosed that this translated to a loss of $787.2 million, an equivalent of N362.931 billion, in the 12-month period of 2022 compared with $911.0 million (N420.007 billion) recorded in 2021.
The environmental protection agency further stated that the offending oil firms were also expected to pay penalties of $449.8 million, about N207.376 billion, to the coffers of the federal government in 2022 compared with penalties of $520.6 million (N240.017 billion) expected to be paid in 2021.
NOSDRA also stated that the volume of gas flared in 2022 was equivalent to carbon dioxide emissions of 11.9 million tonnes, in contrast to 13.8 million tonnes in 2021, while the gas flared in 2022 was capable of generating 22,500 gigawatts hour of electricity (GWh) versus 26,000 GWh in 2021.
Giving a breakdown of the total gas flared in the year 2022, the agency reported that companies, whose operating areas are onshore, flared 113.2 billion SCF of gas, valued at $396.3 million, about N182.71 billion.
It added that the onshore gas flare volume translated to carbon dioxide (CO2) emissions of 6.0 million tonnes and was capable of generating 11,300 GWh of electricity, while the companies were expected to pay penalties of $226.5 million (N104.425 billion).
Specifically, the oil spill agency stated that in January, February, March, April, May and June 2022, 19.143 billion SCF, 14.044 billion SCF, 10.488 billion SCF, 6.633 billion SCF, 8.715 billion SCF and 4.875 billion SCF of gas were flared respectively; while 5.676 billion SCF, 5.381 billion SCF, 3.342 billion SCF, 6.847 billion SCF and 13.039 billion SCF of gas were flared in July, August, September, October, November and December.
Conversely, the report stated that companies operating in oil fields offshore Nigeria cost the country a loss of $390.9 million (N180.22 billion), as they flared 111.7 billion SCF of gas; an equivalent of 5.9 million tonnes of CO2; with electricity generating potential of 11,200 GWh; and were liable for penalties of $223.4 million, an equivalent of N102.996 billion.
Particularly, 10.844 billion SCF, 13.088 billion SCF, 6.003 billion SCF, 14.85 billion SCF, 12.582 billion SCF and 4.812 billion SCF of gas were flared in January, February, March, April, May and June 2022, while in July, August, September, October, November and December, 3.729 billion SCF, 6.295 billion SCF, 7.29 billion SCF, 7.587 billion SCF, 10.323 billion SCF and 14.279 billion SCF of gas were flared respectively.
Furthermore, NOSDRA disclosed that in the onshore oil space alone, Shell Nigeria flared 58.5 billion SCF of gas, valued at $204.8 million (N94.42 billion), and was liable to penalties payment of $117 million (N53.94 billion).
The flares were recorded from Shell Nigeria’s Oil Mining Leases (OML) 05, 11, 13, 14, 17, 18, 20, 22, 23, 28, 29, 30, 35, 39, 40, 43 and 46, among others; while offshore, Shell flared 5.8 billion SCF of gas from OML 79 and Oil Prospecting License 212.
In addition, gas flares were recorded at Chevron Nigeria’s OML 49, 90 and 95; Mobil Producing Nigeria’s OML 67, 70, and 104, Addax’s OPL 98, 118 and 225; Nigerian Agip Oil’s OPL 316 and OML 61; Elf Petroleum Nigeria’s OML 56; and Esso E&P’s OPL 209, among others.
General
Lolu Akinwunmi, Iquo Ukoh to Co-chair 2026 CMO Circle
By Modupe Gbadeyanka
The duo of Lolu Akinwunmi and Iquo Ukoh will co-chair the 2026 Chief Marketing Officers Circle (CMO Circle), slated for June 5, 2026, with the theme The C-Suite Mandate: Talent Density and Marketing Leadership.
The invitation-only forum for CMOs and senior marketing leaders will bring together the most influential voices in marketing to shape strategy at the highest levels of business and public policy.
As Co-Chairs, Akinwunmi and Ukoh will curate and lead high-level discussions focused on innovation, talent density, enterprise growth, and the expanding mandate of the CMO within the C-suite. Their stewardship reinforces the Circle’s role as a convening authority—one that not only reflects industry thinking but actively defines it.
Akinwunmi, Group CEO of Prima Garnet (Ogilvy Nigeria), brings decades of experience advising leading national and multinational brands, alongside a distinguished record of industry leadership.
Ukoh, Chief Executive Officer of Entod Marketing and former Director of Marketing Services at Nestlé Nigeria, is widely regarded for her leadership in brand strategy, consumer engagement, and cultural storytelling.
Convened by MarkHack in partnership with StatiSense and Brand Communicator, the CMO Circle operates at the intersection of enterprise leadership and national development. Beyond dialogue, the Circle institutionalises its influence through the quarterly CMO Index. This flagship publication aggregates executive sentiment, market intelligence, and forward-looking insights to inform policy conversations and economic decision-making. In doing so, the Circle positions marketing leadership as a critical voice in shaping Nigeria’s business environment and policy direction.
“The CMO Circle is intentionally designed as a premium, outcomes-driven platform—one that moves marketing leadership beyond the boardroom into the sphere of policy influence.
“With Iquo Ukoh and Lolu Akinwunmi as Co-Chairs, we are setting a clear tone of authority, depth, and relevance. Through the CMO Index and our quarterly convenings, the Circle will play a defining role in shaping both industry direction and policy dialogue,” the convener of CMO Circle, Mr Victor ’Gbenga Afolabi, stated.
General
Court Grants El-Rufai N100m Bail in DSS Case
By Adedapo Adesanya
Justice Joyce Abdulmalik of the Federal High Court in Abuja has granted bail to former Kaduna State Governor, Mr Nasir El-Rufai, in the sum of N100 million with one surety in like sum.
Delivering the ruling, Justice Abdulmalik imposed a series of stringent conditions that the defendant must meet before perfecting the bail.
The court held that the proposed surety must reside in either the Maitama or Asokoro districts of Abuja and must deposit the original Certificate of Occupancy (C-of-O) of a landed property at the court registry.
The surety is also required to be a federal civil servant not below Grade Level 17 and must provide evidence of salary payments for at least three months, authenticated by a letter from the manager of a bank within the jurisdiction of the court.
The court further ordered the surety to depose to an affidavit of means, enter into a bail bond, and submit a recent passport photograph to the court registry.
As part of the bail conditions, Mr El-Rufai is to deposit all valid international passports with the court registry.
The court also directed that a verification letter from the surety’s immediate department be submitted, alongside a tax clearance certificate covering the last six months.
Justice Abdulmalik further ordered the defendant to report to the headquarters of the Department of State Services every last Friday of the month by 10 a.m. to sign an attendance register pending the determination of the case.
The judge warned that failure to comply with the conditions would lead to an automatic revocation of the bail.
The court additionally directed the defendant to submit a letter of attestation from the Chairman of the Kaduna Traditional Council.
This comes a month after a Kaduna Court granted bail to the former Minister in a corruption case filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over charges related to alleged corruption and abuse of office during his tenure in the North-Western state from 2015 to 2023.
He was alleged to have abused his office and to have intended to commit fraud and confer undue advantage, which were alleged against the opposition politician.
General
PenCom Proposes Full Salary Pension for Retired Police Officers
By Adedapo Adesanya
The National Pension Commission (PenCom) has proposed a sweeping reform of retirement benefits for officers of the Nigeria Police Force under the Contributory Pension Scheme (CPS), including lifetime monthly pensions equivalent to 100 per cent of their final salary and a gratuity of 200 per cent of their annual emoluments upon retirement.
According to the Leadership newspaper, the measure is part of federal government efforts to address persistent agitation from retired police personnel who say CPS payouts are inadequate.
The reform will see retired police officers receive a monthly pension equivalent to 100 per cent of their final salary for life and gratuity payments amounting to 200 per cent of annual emoluments, benefits that many officers have been clamouring for years.
According to the newspaper, retirees under the scheme have raised concerns over poor pension payouts, with some saying they receive as little as N30,000 to N80,000 monthly, while also lamenting the inadequacy of their lump-sum retirement benefits.
Some other recommendations include increasing active officers’ monthly pension contribution for serving police officers from the current 10 to 20 per cent, while employee contributions will remain at 8 per cent.
The new arrangement, which includes a monthly pension equivalent to an officer’s last salary and increased gratuity benefits, is expected to strengthen financial security for retired personnel and boost the morale of officers still in active service.
The measure is expected to significantly improve Retirement Savings Account (RSA) balances, enhance pension payouts, and strengthen the long-term sustainability of the pension structure.
If approved by President Bola Tinubu, the augmentation plan for police personnel will reflect the government’s recognition of the police’s critical role in maintaining national security and public order, as well as the need to ensure officers’ dignity and stability after retirement.
Police pensioners who have been protesting against the CPS insisted that the scheme, which requires both employers and employees to contribute monthly into Retirement Savings Accounts (RSAs) managed by Pension Fund Administrators (PFAs), has worsened their welfare.
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