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Senate Pledges Adequate Support for Local Content Development

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By Adedapo Adesanya

The Senate has announced plans to provide adequate legislative support to drive the local content development initiatives of the Nigerian Content Development and Monitoring Board (NCDMB).

The Chairman of the Committee, Mr Joel Onowakpo Thomas, who spoke after an oversight visit on the board facilities and projects sites within Bayelsa State commended the board for how it has implemented its enabling statute, the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.

The Senator said NCDMB has demonstrated the requisite capacity for actualisation of the objectives of the Act, and that the enabling environment for oil and gas industry operations, growth of indigenous businesses, job creation and development of industry-related skills, would be vigorously pursued by the Committee at the National Assembly.

The Chairman reaffirmed President Bola Tinubu’s commitment to growing local capacity in the oil and gas and other sectors as a sure way of creating employment.

In his word, “ let me say that the benefits of local content cannot be over emphasize. It will lead to the creation of jobs for our people, development of critical assets and skills , growth of local businesses, improve balance of payments and reduction of dependence on foreign goods services.

“To achieve these benefits, collaborations between the Senate committee and board of the NCDMB is essential as we would work closely with the NCDMB to ensure that the provisions of the Act are implemented effectively.

“The committee will not only ensure oversight but will also support the board’ in efforts to develop and implement policies that promote local content development, in addition to our collaboration with the board, we will engaged with other stakeholders and create the enabling environment that foster growth for local businesses and promote job creation.” Mr Onowakpo concluded.

Speaking on the Nigerian Content Implementation Framework, the Executive Secretary of the NCDMB, Mr Felix Ogbe, highlighted Guidelines and Regulations, drawing attention to policies and tools, which included Nigerian Oil and Gas Industry Content Joint Qualifications System (NOGIC JQS), Nigerian Content Development Fund (NCDF), industry collaboration, as well as gap analysis, among other things.

Represented by the Director of Corporate Affairs, Mr Abdulmalik Halilu, he disclosed the board’s has recorded success in the Nigerian Content Intervention Fund (NCIF) managed by the Bank of Industry (BOI) with over ninety percent repayment.

Mr Halilu highlighted some recent striking accomplishments of the Board as facilitating of 10,000 metric tonnes (MT) capacity galvanising plant, commissioned at Daewoo Yard, Port Harcourt, which has ramped up local galvanizing capacity to over 180,000MT; NEDO 300 MMscfd Kwale Gas Gathering Plant, Delta State; NCDMB Nigerian Oil and Gas Parks Scheme (NOGaPS) at Emeyal 1, Bayelsa State, and Odukpani, Cross River State, which are at 90 per cent completion level;10 mega watt Power Plant, and EGINA floating production storage and offloading (FPSO) integration facility, the first and largest in Africa.

Speaking on the next phase, Mr Halilu highlighted the board’s ongoing construction of the NCDMB Gas Hub for gas-based industries and the work on its eight industrial parks across the country as well as the human capacity development programme christened Back-to-the-Creeks Initiative.

He asked the legislatures to support the board by excluding of the Nigerian Content Development Fund from revenue deductions in line with Section 104 of the NOGICD Act.

He also added that the board would also want the challenge of infrastructure to be addressed as well as a strengthening of local content laws by ensuring that legislations for the growth of other sectors are properly aligned with local content philosophy.

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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Tinubu Seeks Senate Confirmation of Tegbe as Power Minister

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By Adedapo Adesanya

President Bola Tinubu has written to the Senate seeking confirmation of the nomination of Mr Joseph Tegbe as the Minister of Power in the Federal Republic of Nigeria.

The request, read by the President of the Senate, Mr Godswill Akpabio, during plenary on Tuesday, was conveyed in a letter addressed to the Senate.

President Tinubu, citing Section 147(2) of the 1999 Constitution (as amended), which empowers the President to nominate ministers subject to Senate confirmation, urged lawmakers to give the request prompt consideration.

Last week, Mr Tinubu nominated Mr Tegbe as the Minister of Power, following the resignation of Mr Adebayo Adelabu to pursue a governorship ambition in Oyo State under the All Progressives Congress (APC) in the 2027 polls.

In the same vein, President Tinubu sought confirmation of two other nominees: Ambassador Sola Enikanolaiye as Minister of State, as well as Mr Rabiu Abdullahi Umar as the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

“The nomination has been transmitted to the Senate for screening and confirmation in accordance with the Constitution,” a statement by presidential spokesperson Mr Bayo Onanuga read in part.

Like his predecessor, Mr Tegbe is from Oyo State. He is a fiscal and economic reform expert with over 35 years of experience spanning the public and private sectors.

A former Senior Partner and Head of Advisory Services at KPMG Africa, he led wide-ranging initiatives in fiscal policy reform, institutional transformation, and governance in that firm.

Mr Tegbe has also advised key government institutions and private sector organisations on strategic reforms, regulatory frameworks, and investment structuring.

Until his nomination, he served as the Director General and Global Liaison for the Nigeria-China Strategic Partnership (NCSP), and was responsible for strengthening bilateral development cooperation between Nigeria and the People’s Republic of China.

Key priority for Mr Tegbe, if confirmed, will be to institute and execute policies that can help fix one of Nigeria’s most crucial sectors.

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Court Orders SERAP to Pay DSS Operatives N100m For Defamation

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By Adedapo Adesanya

Justice Halilu Yusuf of the Federal Capital Territory High Court, Abuja, has awarded N100 million in damages against the Incorporated Trustees of the Socio-Economic Rights and Accountability Project (SERAP).

In his judgment, Justice Yusuf held that two operatives of the Department of State Services (DSS) were right to institute a defamation suit against SERAP.

In the suit, filed in the names of the two DSS officials, Ms Sarah John and Mr Gabriel Ogundele, the claimants accused SERAP of making a false allegation that they invaded its office in Abuja on September 9, 2024.

The court also ordered the organisation to tender a public apology to the two operatives, to be published in two national newspapers and broadcast on two television stations.

In addition, the court awarded N1 million against SERAP as the cost of litigation.

The judgment further stipulated a 10 per cent interest on the damages until the sum is fully paid.

The case follows a dispute that began in September 2024 when SERAP alleged that DSS officers “unlawfully invaded” its Abuja office.

In a post on its X account, the group said, “Officers from Nigeria’s State Security Service are presently unlawfully occupying SERAP’s office in Abuja, asking to see our directors.”

It added, “President Bola Tinubu must immediately direct the SSS to end the harassment, intimidation, and attack on the rights of Nigerians.”

The DSS, however, denied the claims.

It said the visit by its officers was routine and meant to engage the organisation’s new leadership.

The officers later sued, insisting that “no invasion occurred” and that the claims damaged their reputation and led to disciplinary action.

However, SERAP maintained its position.

In a later statement, it said, “We stand by our statements of defence and statements on oath,” insisting that DSS officers “unlawfully invaded our Abuja office.”

During court proceedings, witnesses reportedly said no physical assault took place.

SERAP’s Deputy Director, Mr Kolawole Oluwadare, told the court the claims were based on information from a staff member.

Counsel to the DSS officers, Mr Oluwagbemileke Kehinde, urged the court to grant all reliefs, arguing that the claimants had “substantially proved their case.”

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UK Court Freezes Nigerian Oil Trader’s Global Assets Over $40m Debt

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By Adedapo Adesanya

A court in the United Kingdom has taken sweeping action against a Nigerian oil trader, Mr Abdulrahman Musa Bashar, freezing his assets worldwide in a bid to secure repayment of a long-running debt dispute tied to failed fuel transactions.

The order, issued by the High Court in London, prevents Mr Bashar and his firm, Ultimate Oil and Gas FZCO, from selling, transferring, or otherwise dealing with assets across multiple jurisdictions, including Nigeria, the United Arab Emirates, the United Kingdom, and France. The restriction applies up to the value of the outstanding liability, with disclosed holdings estimated at nearly $170 million.

According to Business Day, the dispute traces back to oil trading agreements between 2022 and 2023, when Dubai-based Petrichor Energy supplied gasoil and Jet-A1 aviation fuel to Ultimate.

Court filings indicate that while deliveries were completed, payments were inconsistent and ultimately fell short, leaving the supplier to pursue legal and arbitration routes to recover its funds.

In an attempt to resolve the matter, Mr Bashar entered a personal repayment agreement in early 2024, backing the company’s obligations with his own guarantee.

He also issued a series of signed cheques as security. However, these measures failed to yield results, as the debt remained unsettled and the cheques were rejected upon presentation.

The court’s decision to impose a global freeze was influenced by what it described as troubling conduct during the dispute. Evidence suggested that assets were being sold without proceeds going toward the debt, alongside concerns that not all holdings had been fully disclosed.

The newspaper reported that testimony also pointed to an alleged warning from Mr Bashar that he might move assets out of reach if negotiations broke down, an assertion the court treated as a credible risk of asset dissipation.

The ruling adds to a growing list of legal challenges facing the businessman. He has previously been sanctioned by English courts for failing to comply with orders in a separate commercial dispute, and was also convicted in Dubai, the UAE, in a different cheque-related case.

With the freezing order now active, Petrichor has expanded its recovery efforts beyond the UK, initiating enforcement actions in both the UAE and Nigeria.

The move aims to block any pathways through which assets could be shielded, while also enabling seizure or control where legally permitted.

In a further escalation, the English court has directed two Nigerian-linked companies associated with Mr Bashar to grant access to a Delta State storage facility, allowing the creditor to recover fuel cargoes tied to the unpaid transactions. Failure to comply could trigger additional legal consequences, including contempt proceedings.

Despite ongoing attempts by Mr Bashar and his company to overturn the freezing order, the court has so far declined to lift the restrictions, leaving the enforcement process firmly in motion.

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