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Lokpobiri, Ahmed, Others to Speak on Nigerian Oil Reforms, Fiscal Incentives at AEW 2024
By Adedapo Adesanya
Nigeria policymakers will discuss the country’s latest policy directives and investment opportunities across exploration, gas monetization, and refining at the upcoming African Energy Week: Invest in African Energy conference set to be held in November.
Nigeria, Africa’s largest oil producer, is targeting $10 billion in oil and gas investments in the next 12-18 months but still faces challenges including oil theft, underinvestment, and a fresh wave of divestments.
Nigeria has implemented a slate of reforms aimed at creating a more favourable investment climate and improved governance within the sector.
According to a statement, the conference will have an Invest in Nigeria Energies roundtable which will outline the ample opportunities for investors and project developers to grow the energy value chain of Africa’s largest crude oil producer, highlighting the latest policy directives, consolidated fiscal incentives and gas utilization investment allowances.
The session places Nigerian policymakers in conversation with industry regulators and associations, exploring the latest policies, regulations and investment opportunities currently shaping the market.
The discussion will be led by Mr Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil); Mr Abdulrazaq Isa, Chairman of the Independent Petroleum Producers Group of Nigeria; and Mr Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The discussion will also feature representatives from IOCS including ExxonMobil and Chevron.
President Bola Tinubu introduced several policies earlier this year – in addition to the ongoing implementation of the Petroleum Industry Act – to reinvigorate the country’s energy sector and retain its position as a regional powerhouse.
According to him, these new measures aim to deliver a competitive Internal Rate of Return for oil and gas projects and attract over $10 billion in new investments within the next 12-18 months.
For new exploration, this includes streamlining contracting procedures by raising approval thresholds for PSCs and JOAs to not less than $10 million, simplifying processes and extending the duration of third-party contracts from three to five years.
This serves to reduce project contracting cycles, leading to faster oil and gas production and supporting Nigeria’s long-term oil production target of 4 million barrels per day.
Nigeria is also targeting new investments in gas monetization, refining and infrastructure expansion, with a view to boosting gas supplies, raising power access and supporting industrialization.
Business Post reports that gas-focused reforms, including tax credits for non-associated gas projects and a 25 per cent tax dedication for qualifying plant and equipment used in gas utilization projects, have also been disclosed to trigger new investments.
In June 2024, TotalEnergies and the Nigerian National Petroleum Company (NNPC) reached a $550 million FID for the development of the Ubeta gas field. Gas from the field will be supplied to the Nigeria LNG liquefaction plant, with first production anticipated for 2027, and support the country’s transition toward low-cost and low-emission projects.
In the downstream industry, Nigeria has been in the process of deregulating the sector, improving fuel availability and affordability, eliminating government subsidies and improving efficiencies, the statement noted.
Also, the long-awaited Dangote Refinery began operations in late 2023 and hopes to transform Nigeria into a net exporter of refined petroleum products to Europe, Asia and Africa. With a capacity of 650,000 barrels per day, the refinery is Africa’s largest and its operational success is crucial for stabilizing domestic fuel prices, reducing import dependency and increasing foreign exchange earnings.
General
NLC, TUC Suspend Planned Protest, Ask FCTA Workers to Resume
By Adedapo Adesanya
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended their planned protest in the Federal Capital Territory and instructed workers under the Federal Capital Territory Administration (FCTA) to return to their duties with immediate effect.
The directive followed an overnight engagement involving labour leaders, the Minister of the FCT, Mr Nyesom Wike, and members of the Senate Committee on the FCT.
The meeting, which began late on Monday, stretched into the early hours of Tuesday, culminating in an agreement that led to the unions’ decision to halt the protest action and restore normal activities across FCTA offices.
This comes after Justice Emmanuel Subilim of the National Industrial Court issued an interim order restraining the NLC, TUC, and three others from embarking on any form of industrial action or protest.
Ruling on an ex-parte application filed by the Minister of the FCT and the FCT Administration, Justice Subilim granted an interim order restraining the 1st to 5th respondents and their privies or agents from embarking on strike pending the hearing of the motion on notice, also ordering the 5th-9th defendants who are security agencies to ensure no break down of law and order.
The ex-parte motion, which was filed by the counsel to Mr Wike and the FCTA, Ogwu Onoja, submitted that the Chairman of the FCT council had sent a message of mobilization to members and affiliated unions for a mass protest scheduled for February 3.
This move, he noted, was in violation of the orders of court, adding that after the ruling of the court on January 27, the order of the court was served on the defendants, same day the NLC and TUC issued a statement to all affiliated unions to intensify and sustain the strike.
The statement jointly signed by both unions directed that the striking workers should resume the strike as the unions’ counsel, Mr Femi Falana, has filed an appeal against the interlocutory ruling.
He further pointed out that With the statement, JUAC issued a circular directing all employees to continue the strike.
This position they say is aimed at causing break down of law and order in the Nations capital.
The court subsequently adjourned the case until February 10 for hearing.
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Church Confirms Release Of 151 Abducted Members in Kaduna
By Adedapo Adesanya
The Cherubim and Seraphim Movement Church Worldwide, Ayo Ni O, has confirmed the release and safe return of 151 of its members abducted from Iburu community in Kajuru Local Government Area of Kaduna State.
The abduction, which affected about 177 people, occurred on January 18, 2026. It was initially denied by the Nigeria Police Force and other government agencies, but was later confirmed.
In a statement issued by the Conference Secretary General of the church, Mr Anthony Olusesan Samaiye, it was disclosed that the release of the abducted persons was confirmed through reports from its liaison officers in Kaduna.
According to the statement, Mr Emmanuel Abiodun Adewale Alogbo (JP), described the release as a victory for faith, prayer and dialogue, noting that the breakthrough followed an emergency visit to Kaduna by its leadership and a series of high-level engagements aimed at securing the freedom of the abducted worshippers.
The Cherubim and Seraphim Church expressed gratitude to the Kaduna State government, particularly Governor Uba Sani, for what it described as his commitment to dialogue and the coordination of state resources that contributed to the successful outcome.
Special appreciation was also extended to the Governor’s Chief of Staff, Mr Sani Liman Kila, and the Senior Special Assistant on Religious Affairs (Christian Matters), Mr Ishaya Jangado, for facilitating engagement between the church and the state government.
The church noted that the incident demonstrated the importance of cooperation between religious leaders and government authorities in addressing security challenges and protecting citizens.
It also acknowledged prayers and support from the Christian Association of Nigeria (CAN), the Organisation of African Instituted Churches (OAIC), the international community and Christians worldwide.
While celebrating the release, the church said it was mindful of the trauma experienced by the victims and disclosed that its welfare and medical teams had been mobilised to provide psychosocial support and care to the affected members and their families.
The church called for sustained peace in Kaduna State and across Nigeria, urging authorities to continue efforts to ensure the safety of all citizens, regardless of religious affiliation.
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2027 Elections: I Won’t be Vice Presidential Candidate—Peter Obi Insists
By Adedapo Adesanya
As activities for the 2027 general elections begin to take shape, the former presidential candidate of the Labour Party in the 2023 presidential poll, Mr Peter Obi, has again ruled out the possibility of contesting as a vice presidential candidate next year, saying he is contesting to be on the ballot.
Speaking ahead of the Abuja Municipal Area Council (AMAC) election in the Federal Capital Territory, he said, “You see this coming election, support us in AMAC; it will help me. Your support in AMAC is critical to our journey. I am involved and contesting the coming election as number one. When I come back, you will see. I assure you.”
Mr Obi vied for the 2023 presidency on the LP platform, emerging third overall behind Mr Atiku Abubakar and President Bola Tinubu.
In December 2025, he defected to the African Democratic Congress (ADC), where his teeming supporters popularly known as Obidients have urged him to only pursue the presidential ticket.
Mr Abubakar, who chose Mr Obi as his vice presidential candidate in the 2019 polls, is also a member of the ADC. The men finished in second and third places, respectively in the last presidential election, which President Tinubu won with 37 per cent of the votes.
Speaking at the campaign venue, Mr Obi emphasised to his supporters the importance of backing the ADC candidate in the AMAC election, noting that their support at the grassroots would go a long way in bolstering his national political journey.
The ADC coalition includes many former allies of Mr Tinubu, including Mr Nasir El Rufai, the former governor of Kaduna State; Mr David Mark, a former Senate President who is serving as the National Chairman of the party, and Mr Rauf Aregbesola, a former Osun Governor and currently the National Secretary of ADC.
The party will be hoping to emulate the success of the ruling All Progressives Congress (APC), which was formed by an alliance of opposition politicians (including Mr Abubakar) in 2013 and caused the ouster of former President Goodluck Jonathan, the first-ever defeat of an incumbent Nigerian president in 2015.
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