By Adedapo Adesanya

Nigeria has no plans to stop fossil fuels anytime soon, despite increasing calls for energy transition because the country intends to harness its oil reserves and increase oil output to fill the gap in Africa.

This submission was made by the Minister of State for Petroleum (Oil), Mr Heineken Lokpobiri, at the 13th Practical Nigerian Content Forum organized by the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa, this week.

Mr Lokpobiri explained that no country in the world will stop the production of fossil fuels when there are still markets for it, noting that Nigeria has a lot of reserves and has not utilised enough to consider stopping the use of fossil fuels, despite several calls from many quarters.

Speaking on the theme Deepening the Next Frontier for Nigerian Content Implementation, the Minister observed that even Western countries like the United Kingdom were still giving licenses for exploration.

“All these clamour about energy transition that says we should stop production of fossil fuel, we will never stop the production of fossil fuel in Nigeria, no country in the world will stop it.

“In 2023, UK which contributed 4.8 per cent of global emissions, higher than the entire OPEC countries put together, entire African continent put together and still gave over 100 licenses to new companies for new exploration.

”America is the highest producer of fossil fuel, so why should we stop, those who are telling us to stop are themselves not stopping, so we should know that is about politics.

“Let me also use the opportunity to tell the industry players that with the emergence of Donald Trump as U.S. President, the price of oil maybe battered.

”What I want us to do is to increase our own production, Africa already has enough market. We can produce enough fuel to supply the West African region and the entire Africa, but our biggest challenge is funding,” he said.

Also speaking, the Minister of State for Petroleum (Gas), Mr Ekperikpe Ekpo, urged local businesses in the country to invest in Compressed Natural Gas (GNG) as gas will be a mainstay of the economy after the energy transition.

“Gas will be the mainstay of Nigeria’s energy shift, and we’re giving local businesses a chance to engage in gas distribution, processing and power generation.

”The probable replacement for PMS has been determined to be natural gas in the form of CNG.

“Let me reiterate this administration’s unwavering commitment to advancing local content as a cornerstone of our energy strategy, together, we have the opportunity to build an energy industry that empowers Nigerians, strengthens our economy and contributes to the sustainable future,” he said.

On his part, the Executive Secretary of the NCDMB, Mr Felix Ogbe said the board has achieved 56 per cent in Nigerian Content level in 2024 compare to 26 per cent in 2016.

He stated that some of the achievements of the board include; Commissioning of Amal Technologies in Idu, Abuja; and the Kwale Gas Gathering facility in Delta, approval of 312 Nigerian Content Plans, and issuance of 402 Nigerian Content Compliance Certificates (NCCCs) bythe board amongst others.

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.

By Modupe Gbadeyanka

A popular human rights activist, Mr Dele Farotimi, has been remanded in prison custody in Ekiti State after he was arraigned on Wednesday by the police.

He was accused of defaming a legal luminary, Mr Afe Babalola, in a book titled Nigeria and its Criminal Justice System.

The book was published by Mr Farotimi and he claimed that Mr Babalola, a Senior Advocate of Nigeria (SAN), used his position to influence the judiciary.

The suspect, who is also a lawyer, was allegedly abducted this week in his Lagos chamber by officers of the Ekiti State Command of the Nigeria Police Force (NPF) and taken to Ekiti State by road.

Today, he was arraigned before Magistrate Abayomi Adeosun of the Ado-Ekiti Magistrate Court on a 16-count charge, which he pleaded not guilty to.

The police said it acted on a petition of defamation written by the founder of Afe Babalola University, Ekiti State.

The nonagenarian lawyer claimed the 56-year-old professional colleague exposed him to hatred, contempt, ridicule and damage his hard-earned career in the book.

At the court today, the police prosecutor, Mr Samson Osun, begged the court to keep the accused person in prison custody pending further investigation.

However, this was opposed by the counsel to the defendant, Mr Dayo Akeredolu, who argued that the alleged offence was bailable and that Mr Farotimi is a public figure who respects the rule of law.

This plea was not answered as Mr Adeosun remanded the suspect in prison custody and adjourned the hearing till December 10.