General
NNPC Assets Restructuring Looms for Efficient Oil Production
By Adedapo Adesanya
Nigeria is considering a restructure of asset ownership in the Nigerian National Petroleum Company (NNPC) Limited to increase dwindling crude oil production.
The Special Adviser to the President on Energy, Mrs Olu Verheijen, said restructuring the national oil company would revitalise Nigeria’s oil and gas sector and ensure energy security and sustainable development.
Speaking at the ongoing Nigerian Association of Petroleum Explorationists (NAPE) Conference in Lagos, she stressed that achieving the three-million-barrel daily oil production goal requires performance-based stewardship even as she questioned NNPC’s capacity to deliver incremental growth.
The development comes amid concerns over low oil production. Crude oil production hovered around 1.3- 1.5 million barrels per day in the last two years, according to data from the Organization of the Petroleum Exporting Countries (OPEC).
Mrs Verheijen noted that restructuring the national oil company will revitalise Nigeria’s oil and gas sector and ensure energy security and sustainable development.
She revealed that the NNPC E&P Limited produces just 220,000 barrels a day, about 10 per cent of the national output.
Mrs Verheijen expressed doubts that the NNPCL can fund and execute the drilling campaigns needed to increase production.
According to her, unlike in the era of international oil companies onshore, the current joint venture partners can no longer carry the NNPC, asking if the state-owned firm can deliver the incremental growth needed on its sole balance sheet.
If not, the special adviser said the country must have the courage to restructure asset ownership and invite those who can deliver credible operators in the technical capacity, the financial depth, and the governance discipline, saying revitalisation requires performance-based stewardship, not sentiment.
“Independence will also matter more than ever, but independent must not mean inert. Our journey to three million barrels depends on companies like Renaissance, Oando, Seplat, Aiteo, and others moving beyond workovers and infill drilling toward bold, large-scale greenfield developments.
“Campaigns of the magnitude of Shell’s Forcados or ExxonMobil’s satellite field and NGL projects that truly move the needle, but at the same time, NEPL (NNPC E&P Limited) is now a critical lever for growth, and they only produce 220,000 barrels a day; that is less than 10 per cent of our national production. But can it fund and execute the drilling campaigns needed to juggle that figure?
“And unlike the IOC era onshore, its JV partners can no longer carry NNPC, so we must ask the hard question: Can an NNPC deliver the incremental growth we need on its own balance sheet? If not, we must have the courage to restructure asset ownership and invite those who can deliver credible operators in the technical capacity, the financial depth, and the governance discipline. Revitalisation requires performance-based stewardship, not sentiment,” she revealed.
Mrs Verheijen outlined a broader framework she calls the ‘four R’s’— reserves, revenues, reliability, and responsibility, as the yardstick for Nigeria’s energy sector.
On reserves, she said, “Rebuilding the opportunity set. Exploration is not a PowerPoint slide. It is a risky business. But risk has a price, and clarity is the discount. Since 2023, under President Tinubu’s leadership, Nigeria has worked to restore that clarity.”
She stressed the need for Nigeria to act fast to attract investment, saying the world is not standing still, and the countries will not wait for one another to catch up.
“For us in Nigeria, we must do more and move faster to attract exploration and production investment. And our investors have never been so spoiled for choice. The decisions they take will depend on clear, hard-headed assessments of where they can most easily deploy capital and achieve the best returns,” she stated.
She added that the Tinubu administration had prioritised reforms that make Nigeria a destination of choice for investments.
She further highlighted revenue generation and domestic value creation. According to her, in just 18 months, the current government had unlocked over $8 billion in final investment decisions through Ubeta, Bonga North, and HI.
“With a clear line of sight to another $20 billion, these aren’t signatures, they’re shovels in the ground. We’re commercialising gas through long-dated GSAs, anchoring LNG pipeline, gas-to-power, industrial uptake, expanding midstream infrastructure that turns stranded molecules into bankable assets.
“But our revenue agenda goes beyond exports. It is about domestic value creation, gas-to-power to stabilise our grid, LPG and CNG to replace fossil fuels, petrochemicals and fertilisers to strengthen agriculture and build our industrial base, and a refining that ends import dependence and positions Nigeria as a reliable supplier not just to Nigeria but to West Africa,” she said.
General
Alleged N5bn Fraud: FG Arraigns Former Aviation Minister Stella Oduah
By Adedapo Adesanya
The Nigerian government on Wednesday arraigned former Minister of Aviation, Mrs Stella Oduah, before the High Court of the Federal Capital Territory (FCT) on a N5 billion corruption charge.
She was put on trial by the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, on five counts relating to advance fee fraud and conspiracy.
The federal government, through the Economic and Financial Crimes Commission (EFCC), is prosecuting her and eight co-defendants on a 25-count charge involving alleged conspiracy and money laundering of public funds.
The specific amount in the main charge is approximately N5 billion, though some reports have mentioned N7.9 billion or N10 billion in total across all charges.
Mrs Oduah and the other defendants were first formally arraigned on July 21, 2023, after multiple delays, and they all pleaded not guilty to the charges.
In July and November 2023, the Federal High Court in Abuja, presided over by Justice Inyang Ekwo, ordered that the Office of the Attorney General of the Federation (AGF) take over the prosecution from the EFCC to ensure diligent handling of the case amidst procedural controversies.
Those charged alongside Mrs Oduah include her former aide Mrs Gloria Odita, other individuals, and several firms, including China Civil Engineering Construction Corporation (CCECC) Nigeria Limited.
Mrs Oduah also faces a separate eight-count charge filed in June 2023 for alleged document falsification, specifically for falsely claiming the loss of her National Youth Service Corps (NYSC) certificate.
General
Ansar-Ud-Deen Foundation’s Board of Trustees for Inauguration December 13
By Adedapo Adesanya
The Ansar-Ud-Deen Society of Nigeria will on Saturday, December 13, 2025, inaugurate the Board of Trustees of its newly created Ansar-Ud-Deen Foundation. The event will take place at La Scala Restaurant, MUSON Centre, Onikan, Lagos.
The Society described the inauguration as an important step in strengthening its long history of faith-based service, education, and community development. For more than 100 years, Ansar-Ud-Deen has promoted Islamic knowledge, moral values and social support across many communities. The new Foundation is expected to help organise and expand these efforts in a more structured and sustainable way.
According to the President of the Society, Mr Mosediq Adeniji Kazeem (SAN), the foundation will focus on major areas such as education, healthcare, youth empowerment, and community development. He said it will operate based on Qur’anic principles of charity, fairness and compassion.
Mr Kazeem explained that, “the Board of Trustees will be made up of respected men and women who have shown integrity, vision and dedication to service. He said the Foundation will act as a permanent endowment to support key projects of the Society.”
One of its main responsibilities will be the renovation and maintenance of Ansar-Ud-Deen mosques nationwide. “Our mosques must be accommodating and welcoming. We must be proud of any Ansar-Ud-Deen mosque we visit,” he said.
Other areas of focus include improving the infrastructure of Ansar-Ud-Deen schools, supporting Summit University, Offa, and funding social welfare and empowerment programmes for Muslims and the larger community.
The Foundation will also handle investments and donations on behalf of the Society, ensuring that resources are well managed, transparently reported, and invested in halal and ethical ventures that provide long-term benefits.
Reflecting on the broader vision, Mr Kazeem noted: “This Foundation gives structure to our shared aspiration that the good works of Ansar-Ud-Deen will not fade but will continue to flourish across generations.”
He called on members across Nigeria and in the diaspora to continue supporting the mission of building a community based on piety, fairness and progress.
General
Nigeria Customs Destroys N181m PMS Smuggling Network in Adamawa
By Adedapo Adesanya
The Nigeria Customs Service has uncovered a major petroleum smuggling network in Adamawa State, cutting off fuel supply lines that have been draining national revenue and strengthening criminal economies along Nigeria’s northern borders.
National Coordinator of Operation Whirlwind, ACG Kolapo Oladeji, disclosed that officers recorded 55 seizures in eight weeks, blocking the illegal movement of more than 184,000 litres of PMS, a development he described as a significant economic breakthrough for the country.
“This operation is about protecting Nigeria’s strategic resources,” Mr Oladeji told journalists on Thursday at the Customs House in Yola. “Our mandate is clear: to shut down all illegal supply chains that empower criminal elements.”
The seizures, valued at N181.6 million in duty-paid terms, were intercepted across notorious smuggling corridors including Mubi–Sahuda, Farang–Belel, Gurin–Fufore, Maiha, Wuro-Bokki, Ribado waterways, Muninga and Bakin Kogi.
According to Mr Oladeji, items recovered include 2,642 jerrycans of 25-litre PMS, several 220-litre drums, and two large wooden boats used to ferry petroleum products across the border.
He stressed that the illegal PMS diversion is not just an economic crime but a direct threat to national stability.
“The smuggling network is a grave threat to Nigeria’s economy and internal security,” he said. “The illegal diversion of PMS weakens our revenue base and directly fuels non-state actors and cross-border criminal syndicates.”
Mr Oladeji added that intensified surveillance under Operation Whirlwind has “made it extremely difficult for saboteurs to move PMS out of the country,” in line with the directives of Comptroller-General Adewale Adeniyi.
Commending residents of border communities for supporting the operation with credible intelligence, the Customs chief urged them to remain vigilant.
“Your timely information has been invaluable,” he said. “Security is a collective responsibility, when you see something, say something.”
He also acknowledged the media’s role in raising awareness about the economic and security implications of petroleum smuggling, describing public enlightenment as crucial in sustaining recent gains.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn











