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NUPRC Beats 2024 Revenue Target by 49% 

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NUPRC

By Adedapo Adesanya

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has exceeded its revenue target by 49 per cent.

According to the regulator, the revenue growth is attributed to its strategic overhaul of Nigeria’s upstream petroleum sector.

Through regulatory reforms, the commission has plugged financial leakages and attracted substantial investments, despite the divestment of some oil and gas assets.

Speaking on the milestone, the Chief Executive Officer of the commission, Mr Gbenga Komolafe, highlighted that the commission is dedicated to achieving more through several ongoing initiatives.

The commission, established under the Petroleum Industry Act (PIA) of 2021, replaced the defunct Department of Petroleum Resources (DPR) and oversees the technical and commercial operations in Nigeria’s upstream petroleum sector.

According to Mr Komolafe, the NUPRC has been able to set certain milestones including the Project One Million Barrels Per Day initiative, bid rounds, and the Drill or Drop mandate, all aimed at revitalising the sector.

In October 2024, NUPRC launched the One Million Barrels Per Day production initiative, aiming to boost Nigeria’s daily crude production to over 2.7 million barrels.

Earlier, in May 2024, the Komolafe spearheaded a bid round for oil blocks at the Offshore Technology Conference in Houston, Texas, attracting major investors like TotalEnergies.

The Drill or Drop initiative, which he tagged as another game-changer, requires oil producers to drill within a specified timeframe or forfeit their license areas.

According to Mr Komolafe, this has significantly enhanced revenue collection and ensured optimal use of oil assets.

He also noted that the commission has also emphasised its commitment to transparency and accountability.

According to Mr Komolafe, the commission operates within the framework of the Federation Accounts, ensuring increased revenue flows into government coffers over the past three years.

Mr Komolafe further stated NUPRC’s role in recovering government revenue through royalties, emphasizing the importance of checks and balances in fulfilling its statutory mandate.

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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ANLCA Onne Seaport Chairmanship: Ikenga Vows to Carry Colleagues Along

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ANLCA Chinedu Ikenga

By Bon Peters

As the Association of Nigerian Licensed Customs Agents (ANLCA) braces up for the February 2025 election, a chieftain and incumbent General Secretary of the group at the Onne Seaport chapter, Mr Chinedu Ikenga, has promised to be the voice of members.

Mr Ikenga is contesting for the chairmanship position of the chapter and while unveiling his 7-Point Agenda in Port Harcourt, the Rivers State capital, he said, “I firmly believe that every member of ANLCA in general and Onne chapter, in particular, deserves a voice, and I am committed to be that voice for each and every one of you.”

The association’s scribe, who described ANLCA as a place of learning, growth and development, promised to continue on that part, noting that such values should be the touchstone for anybody who aspires to lead the chapter.

Relying on his accessibility, humility, honesty, integrity, inclusiveness, commitment, dedication and uprightness, industry watchers and critical stakeholders believe that Mr Ikenga is the man for the top job, all things being equal.

The GS, who is the chief executive of Prestige Associates Limited, said he would prioritise members’ needs and concerns when elected.

He also pledged to create a safe and inclusive environment where everyone feels welcome and valued, promote a friendly and conducive environment for business to thrive, ensure ANLCA becomes a better place for members, and create opportunities that would guarantee members’ welfare.

He also promised to sustain and improve on the foundation led by previous administrations for the benefit of the group.

After launching his manifesto, Mr Ikenga visited some of the government agencies at the ports, including the Nigeria Customs Service (NCS), the Nigerian Ports Authority (NPA), the West African Container Terminal (WACT), and the Onne Multipurpose Terminal (OMT), among others.

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How We Rescued Ex-Lagos CP’s Wife from Kidnappers, Recovered N10m Ransom, Others—Police

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hakeem odumosu

By Modupe Gbadeyanka

The wife of a former Commissioner of Police (CP) in Lagos, Mr Hakeem Odumosu, Mrs Folashade Odumosu, has been rescued from the kidnappers’ den.

Mrs Odumosu, whose husband retired as an Assistant Inspector General of Police (AIG), regained freedom in the earlier hours of Thursday, January 23, 2025, after some police detective launched an attack on her abductors.

She was forcefully picked up by the suspects on Thursday, January 16, 2025, at about 9:45 pm from her car outside her residence in the Arepo area of Ogun State allegedly by four masked gunmen.

Immediately after the incident, police operatives attached to the Ogun State Command began surveillance for her rescue, which finally happened a week later.

In a statement issued by the police spokesman, Mr Olumuyiwa Adejobi, narrated that the Ogun State police operatives engaged in extensive surveillance of the creeks surrounding Arepo, gathering crucial information to track down the assailants.

It was stated that their efforts culminated in a raid today after an intelligence-led operation took the police to a creek in the swampy area of Ikorodu where the kidnappers were reportedly planning their next attack.

Upon arrival, the operatives encountered the kidnappers, who opened fire. In the ensuing confrontation, two of the gunmen were neutralized, while four others fled the scene, abandoning their operational weapons.

The victim, Mrs Odumosu was rescued within the swampy creeks during the operation, unharmed. She is currently undergoing medical evaluation as a precautionary measure and has since been reunited with her family.

The police also recovered four AK-47 rifles, three locally made single barrel rifles, ammunition of various calibres, and the sum of N10 million ransom previously demanded by the kidnappers, further ensuring that justice is served.

The Inspector-General of Police (IGP), Mr Kayode Egbetokun, commended the Ogun State Commissioner of Police, Mr Lanre Ogunlowo, and his operatives for the successful operation, saying it exemplifies the dedication and resilience of police officers.

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Telco Tariffs Hike: FCCPC Promises to Ensure Compliance

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FCCPC

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has said it would ensure compliance with the new telecommunications tariff adjustment.

Earlier this week, the Nigerian Communications Commission (NCC) allowed for a 50 per cent hike in tariffs for the first time since 2013.

Although stakeholders have expressed dissatisfaction with the level, the law establishing the policy will have to be followed.

While the telcos have silently expressed that the 50 per cent level was too low for the sustainability of the industry; consumers want a lower threshold with an association protecting customers saying it will approach the courts.

Speaking on how it will ensure compliance, the Director of Corporate Affairs of FCCPC, Mr Ondaje Ijagwu, said the commission was working with the NCC to ensure consumers are not infringed upon during the transition period and beyond.

He urged telecom operators to prioritise visible and measurable improvements in network reliability, speed, accessibility, and customer service as part of any tariff adjustment, saying that consumers’ interest is paramount.

According to him, it is crucial that tariff adjustments directly translate into demonstrable and tangible service enhancements for consumers, commending the NCC for adopting a deliberate and measured approach by rationalising the tariff adjustment and linking it to commensurate improvements in service quality.

”Operators are now required to disclose all key details upfront, including the cost, validity period, and the specific inclusions of a plan.

“Consumers can also expect a mandatory disclosure table from their service providers, enabling them to make informed decisions without worrying about unexpected charges or surprises,” he said.

Mr Ijagwu said the Memorandum of Understanding (MoU) signed between the FCCPC and NCC would provide a unified framework to oversee the implementation of the tariff adjustment in a manner that met the needs of consumers, encouraging consumers to report any unfair practices or concerns through the agency’s official channels to ensure effective resolution.

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