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PENGASSAN Laments Effect of Recent Policies on Nigerian Oil, Gas Operations

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By Adedapo Adesanya

The Petroleum and Natural Gas Senior Association of Nigeria (PENGASSAN) has expressed worry over the impact of the recent policy directions of the Bola Tinubu-led government on Nigeria’s oil and gas operations.

The President of the association, Mr Festus Osifo, stated this on Wednesday in Abuja at the 2024 PENGASSAN Energy and Labour Summit (PEALS 2024) themed The Future of Nigeria’s Oil and Gas Industry: Energy Mix, Energy Security, Artificial Intelligence, Divestment, and Crude Oil Theft.

“Recent policy directions by the government have placed untold hardship on Nigerians.

“Chief among them is the flotation cum devaluation of the Naira, which saw our currency slide from N450 officially in May 2023 to the current exchange rate of about 1600 Naira.

“This is the reason why the landing price of PMS today is over N1,000 (reintroduction of subsidy), the reason why AGO is selling for over N1,300 and the reason why all Imported commodities are over the roof today.

“The overarching impact of these on Nigerians can only be imagined rather than experienced,’’ he said.

Mr Osifo said the floating of the Naira in the official market had exacerbated the challenges faced by their members.

He also said PENGASSAN is committed not to relent until victory is achieved in the fight against crude oil theft.

“The scourge of crude oil theft poses a significant threat to our industry, economy, and national integrity.

“As an Association, we have mounted the rostrum over time, both on the streets and in the boardroom, to champion this cause, and we will not relent until victory is certain.

“We are steadfast in our resolve to continuously partner with other stakeholders in the industry to combat this menace through enhanced security measures, technological innovations, community engagement, and collaboration with law enforcement agencies,’’ he said.

Mr Osifo warned that Nigeria stood at a crossroads, especially in the oil and gas sector, and the actions and decisions of the association must be geared toward rescuing the country.

He said the summit would design a framework for a policy trust for the government towards shaping the economic outlook of the country.

“It is incumbent upon us to drive positive change, foster economic growth, and ensure our people’s prosperity.

He, therefore, called on industry players to explore innovative solutions to forestall financial losses to workers prevent undue gains to companies and ensure a fair and equitable environment for all.

Mr Osifo said PENGASSAN would do all it could to push for just and equitable distribution across its branches.

The labour leader appreciated President Tinubu for the recent signing of an Executive Order that granted incentives to investments in the oil and gas industry.

He said the move translated to the recent $550 million Final Investment Decision announced by NNPC Limited and TotalEnergies on the Ubeta project.

Mr Osifo said PENGASSAN equally recognised the efforts of NNPC Limited Management in furthering partnership initiatives in the upstream and downstream sectors of the Industry.

“The recent MOU signed by NNPC Limited with Total Energies and separately with Shell are indications of fostering good relationships with critical partners.

“The expansion of CNG and LPG infrastructures by NNPC Limited across the nook and crannies of the country is a right step in the right direction and this must be encouraged and deepened,’’ he said.

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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UK Strengthens Ties With Kano, Jigawa on Sustainable Development

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By Adedapo Adesanya

The United Kingdom has reaffirmed its development partnership with Kano and Jigawa States, as part of its long-term commitment to development and reform in northern Nigeria.

The Head of Development Cooperation at the British High Commission Abuja, Ms Cynthia Rowe, recently completed high-level engagements with governors of both states as well as senior government officials and civil society leaders.

The discussions underscored the UK’s modern approach to development as a genuine partnership with Nigeria, which prioritises state-led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.

According to a statement, the Foreign Commonwealth and Development Office, via the British High Commission, said Nigeria remains one of the UK’s most significant development partners, adding that the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.

In Kano, Ms Rowe met with Deputy Governor Alhaji Murtala Sule Garo and senior officials, including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.

In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK technical assistance.

Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.

Speaking on this, Ms Rowe said, “For more than 25 years, we have worked side by side with state governments, including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.

These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”

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CBN Partners NiMet to Integrate Climate Data Into Economic Planning

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By Adedapo Adesanya

The Nigerian Meteorological Agency (NiMet) has signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) on data sharing to enhance economic productivity.

This was done at a meeting at CBN Head Office in Abuja, where the weather body led by its Director General, Mr Charles Anosike, on Wednesday, highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation.

He noted that extreme weather events can reduce agricultural productivity and threaten food security.

He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.

Mr Anosike cited a 2026 World Bank report that showed that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.

He also referenced the latest Berkeley Earth Report, which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.

In his remarks, Mr Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support.

He emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.

According to him, the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet, saying that such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.

He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.

At the close of the event, Mr Anosike and Mr Sani Abdullahi signed the MoU on behalf of their respective institutions.

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POS Operators Barred Within 200 Metres of Police Stations

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By Adedapo Adesanya

The Inspector-General of Police (IGP), Mr Tunji Disu, has ordered an immediate nationwide ban prohibiting Point-of-Sale (POS) operators from running their businesses within a 200-metre radius of any police station, divisional headquarters, or police formation across Nigeria.

This directive, released via an internal police wireless message, addresses critical systemic challenges regarding extortion and corrupt financial practices within law enforcement facilities.

The order is to be strictly enforced nationwide, with senior officers overseeing various formations to be held accountable for any breach of the directive.

The Nigeria Police Force stated that the measure is intended to strengthen transparency, accountability, and public confidence in the policing system.

The decision comes after an alarming proliferation of POS businesses near police facilities, with investigations and public complaints revealing that some operators were actively complicit in facilitating extortion, bribery, and illegal cash transfers forced upon civilians or suspects during police encounters.

Under the directive, Assistant Inspectors-General of Police (AIGs), State Commissioners of Police (CPs), and heads of formations will be held vicariously liable for any breach within their jurisdictions.

The IGP’s order states: “Any officer or POS merchant found flouting the 200-metre operational boundary or colluding in illicit transactions will face immediate disciplinary and criminal actions under extant laws.

“If you are a POS agent or looking into regulatory compliance for financial services in Nigeria, let me know. I can provide details on current Central Bank of Nigeria (CBN) radius registration guidelines or share methods to report officer misconduct directly to the Force Headquarters.”

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