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Nigeria, Equatorial Guinea Target Joint Operations in Oil and Gas

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Sankofa oil and gas project

By Adedapo Adesanya

Nigeria and Equatorial Guinea, two member nations of the Organisation of the Petroleum Exporting Countries (OPEC), have opened discussions regarding new partnerships, such as establishing a joint logistics base, deploying indigenous capacities across the countries, and lowering the costs of major oil and gas operations.

These were the points of discussion when the Minister of Planning and Economic Diversification of the Republic of Equatorial Guinea, Mr Gabriel Mbega Obiang Lima, led a delegation to engage the Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Kesiye Wabote, at the Board’s liaison office in Abuja recently.

Mr Lima called on Nigerian oil and gas service companies to establish their operational bases in Equatorial Guinea, whereby the companies would use the country’s ports to launch their activities in neighbouring countries such as Gabon, Cameroon, and Angola.

The Minister promised to send a formal request for the partnership to the NCDMB, adding that the support of government institutions would be needed before such business opportunities could be explored successfully.

The Minister complained about the exorbitant cost of key oil and gas operations in the Gulf of Guinea.

He further suggested that operators in Nigeria and Equatorial Guinea could significantly lower their costs by collaborating in the scheduling of their respective work programmes, such as mobilising and demobilising drilling rigs and other assets.

He hinted that the proposed business relationship and pooling of demand profiles were necessary to attract key investments. He said this was because big companies like General Electric would only invest in a jurisdiction if they were assured of markets from neighbouring countries.

Speaking on the debate around energy transition and plans to displace fossil fuels with renewable energy solutions progressively, the Minister and the Executive Secretary re-echoed their positions that fossil fuels would remain the world’s dominant energy source for several decades and that Nigeria and Equatorial Guinea would not hurriedly abandon their natural resources to embrace renewable energy where they lacked competitive advantage.

Rather both nations would continue to exploit their oil and gas resources to the fullest and use the proceeds to develop their national economies, including renewable opportunities, they stated.

On his part, NCDMB Executive Secretary, Mr Wabote welcomed the Minister and his entourage, noting that both nations have collaborated closely in the energy sector in recent years and representatives of the Portuguese-speaking nation have participated in several Nigerian oil and gas conferences and visited some oil and gas facilities as well.

He confirmed that the Board and Nigerian oil and gas services companies were keen to participate in the proposed collaboration. He said such arrangements were identified in the Nigerian Content 10-Year Strategic Roadmap under the pillar of Sectorial and Regional Market Linkages.

He further explained that Nigerian services companies had developed surplus capacities in several key areas. Hence, it is imperative to explore opportunities across the Gulf of Guinea, where their expertise and collaboration with players from other nations are needed.

He assured that NCDMB “will galvanise Nigerian services producers under the Petroleum Technology Association of Nigeria (PETAN) and make sure they come with us to your conference, and we will synergise.”

He added that “there is no need going to US or Singapore. We can work out areas where we can partner. It might be in the marine sector, logistics base. There are huge opportunities.”

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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Adelabu’s Sister, Twin Nephews Regain Freedom as Police Kill Kidnappers

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Mrs. Olaide Busayo Adegoke John-Paul

By Dipo Olowookere

The younger sister of the former Minister of Power, Mr Adebayo Adelabu, Mrs Olaide Busayo Adegoke John-Paul, has been rescued by officials of the Nigeria Police Force (NPF).

The woman was freed from her kidnappers along with her twin sons, Peter and Paul, on Saturday evening.

They were abducted on Wednesday morning while the former employee of the Central Bank of Nigeria (CBN) was taking her children to school in Ibadan, Oyo State.

The unfortunate incident reportedly occurred at about 7:30 am on June 3, 2026, throwing residents of the area into panic. The 43-year-old mother was taken from her vehicle by the gunmen and driven away with her 12-year-old twin sons.

This evening, in an operation by security operatives, the victims were rescued, while two of the suspected kidnappers were fatally shot in a gun duel, and two firearms were recovered from the gang.

The police are now combing the area where the rescue operation took place to apprehend some of the fleeing kidnappers, who are believed to have escaped with gunshot wounds.

The news of the rescue of the kidnapped victims has thrown the family of the former Minister into a frenzy.

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FG, Honeywell Explore Sustainable Development Opportunities

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honeywell group

By Modupe Gbadeyanka

The federal government and the Honeywell Group are strengthening a partnership aimed at achieving sustainable development in Nigeria.

The company on Thursday held a meeting with the Minister of Interior, Mr Olubunmi Tunji-Ojo, in Abuja. Both parties explored ways to promote economic development, reaffirming the importance of public-private sector cooperation in advancing Nigeria’s development agenda and improving service delivery for citizens.

The Senior Adviser to the Honeywell Group, Mrs Oduwaye Nsidi-Sakiri, reaffirmed the organisation’s commitment to supporting national development through constructive engagement and collaboration.

“We commend the remarkable progress that has been made. These achievements are a reflection not only of leadership but also of the dedication and hard work of the entire team within the Ministry,” she said.

She explained that the visit reflected Honeywell Group’s longstanding tradition of maintaining proactive and constructive relationships with government institutions, regulatory agencies, and other key public-sector stakeholders. She further expressed the group’s willingness to explore opportunities for collaboration in support of government initiatives and national development objectives.

Also speaking, Honeywell Group Chief Operating Officer, Mrs Tomi Ayo-Tugbo, commended the Ministry for reforms that are delivering tangible improvements in the lives of Nigerians, reiterating the firm’s commitment to supporting the country’s growth and prosperity.

On his part, Mr Tunji-Ojo praised the company for its longstanding contributions to Nigeria’s economy and acknowledged the critical role of the private sector in driving economic growth, creating jobs, and supporting national development.

He further assured the delegation of the Ministry’s readiness to engage with stakeholders and collaborate with responsible corporate organisations in advancing initiatives that promote economic development, innovation, and improved service delivery.

The Minister emphasised that the reforms being implemented across the Ministry and its agencies are designed not only to improve operational efficiency but also to strengthen national security and enhance public confidence in government institutions.

“Our goal is to build institutions that work efficiently for the people. We are committed to creating systems that are transparent, technology-driven, and capable of delivering services in a manner that reflects the aspirations of a modern Nigeria,” he stated.

“The government cannot achieve sustainable development alone. Strong partnerships between the public and private sectors are essential to building a prosperous nation. We value organisations such as Honeywell Group that have consistently invested in Nigeria and contributed to the country’s growth over several decades,” Mr Tunji-Ojo added.

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FG Orders MDAs to Secure Funding Before Awarding Contracts

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project funding

By Adedapo Adesanya

The federal government has directed that no new public contracts should be awarded without first getting the funds, as part of efforts to improve project delivery across the country.

Director-General of the Bureau of Public Procurement (BPP), Mr Adebowale Adedokun, disclosed this on the sidelines of the Inaugural Hosting of The Procurement Evolution in Abuja on Thursday.

Mr Adedokun said President Bola Tinubu had approved measures to raise resources needed to settle outstanding obligations to contractors, describing timely payment as critical to an efficient procurement system.

“Mr President has given a directive on when funds should be raised to address the concerns of contractors who are yet to be paid. With this, procurement processes will be much better because payment is now tied to procurement.

“Meaning that no award will be further issued without resources or funding available. So these are the things that the President has asked us to do.”

The BPP boss said the government was also implementing 23 procurement reforms aimed at improving transparency, efficiency and value for money in public spending.

According to him, committees to drive the reforms will soon be inaugurated by the Secretary to the Government of the Federation (SGF).

He said the reforms were designed to ensure that Nigerians benefit directly through improved infrastructure, healthcare, education and better living conditions.

“The president wants Nigerians to feel the effects of this transformation by having good roads, good hospitals, good educational institutions, and a good living wage for all workers.”

The Secretary to the Government of the Federation (SGF), Mr George Akume, said public procurement remained central to the Tinubu administration’s Renewed Hope Agenda.

Mr Akume noted that ongoing reforms, including proposed amendments to the Public Procurement Act 2007, the Nigeria First Policy, Nigeria e-Marketplace initiative, community-based procurement and affirmative procurement programmes, were intended to strengthen local industries and promote economic inclusion.

The SGF, represented by Mr Abubakar Kana, Permanent Secretary, General Services Office, Office of the SGF, added that the reforms would enhance transparency, simplify procurement processes and leverage technology to improve service delivery and national development.

“As we move forward, our collective responsibility is very clear.

“We must ensure that procurement processes are simplified. without compromising accountability, that technology is fully leveraged to eliminate inefficiencies and that all stakeholders work collaboratively to achieve shared national goals.

“The federal government remains fully committed to supporting the Bureau of Public Procurement in driving these reforms and ensuring that public procurement becomes a catalyst for economic growth, infrastructure development and improved quality of life for all our citizens.”

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