General
Wale Tinubu to Discuss Importance of Local Content in Oando’s Operations
By Adedapo Adesanya
The chief executive of Oando Plc, Mr Wale Tinubu, has been scheduled to speak to some energy stakeholders in Africa on how the company has been able to record milestones with local experts..
He will also discuss expectations after the firm’s acquisition of Italian multinational Eni’s onshore assets in Nigeria at the December MSGBC Oil, Gas & Power 2024 conference in Dakar, Senegal.
Earlier this month, Oando completed its acquisition of Eni subsidiary Nigerian Agip Oil Company – which holds interests in onshore OMLs 60, 61, 62 and 63, as well as the Brass LNG terminal – transforming the company into one of Nigeria’s largest oil producers and doubling its reserves to 996 million barrels of oil equivalent.
Before the acquisition, the company’s upstream subsidiary Oando Energy Resources held assets on- and offshore in Nigeria and the Exclusive Economic Zone of São Tomé and Príncipe, with a portfolio encompassing 14 licenses in exploration, development and production of oil and gas concessions.
Amid global energy transition pressures, Oando has advocated the sustainable extraction of Nigeria’s 37 billion barrels of crude oil and more than 200 trillion cubic feet of natural gas to drive socioeconomic development and industrialization.
According to a statement, at MSGBC Oil, Gas & Power 2024, Mr Tinubu is expected to discuss Oando’s latest acquisition and investment strategy, focusing on integrating just transition principles and technologies and ensuring local value creation.
This perspective is particularly relevant for Senegal and Mauritania, which anticipate first gas production from the Grande Tortue Ahmeyim offshore field later this year and seek to balance resource development with sustainable growth.
Additionally, Mr Tinubu will emphasize the importance of local content in Oando’s operations, showcasing the company’s commitment to building local expertise, creating jobs and ensuring that economic benefits are retained within the region.
With a diverse asset portfolio, Oando exemplifies local capacity building and has evolved into one of the leading indigenous operators on the continent, leveraging the recent wave of IOC divestitures to play a more dominant role in Nigeria’s upstream sector.
The Event & Project Director at Energy Capital & Power, Ms Sandra Jeque, while speaking ahead of the programme, said, “MSGBC Oil, Gas & Power 2024 provides Oando with the platform to showcase its investment strategy – including its historic acquisition of Eni’s onshore Nigerian portfolio – as a leading African indigenous explorer.
“We welcome Adewale Tinubu in opening up dialogue and promoting a collaborative, cross-border approach to harnessing extractive resources, sharing best practices and achieving long-term energy security within the region.”
General
NIMASA Launches Zero Tolerance Campaign for Nigeria’s Maritime Sector
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced special operational enforcement code named Operation Zero Tolerance for Non-Compliance in the Nigerian maritime domain.
The directive was issued through a Marine Notice, pursuant to the agency’s statutory mandate under the NIMASA Act 2007, the Coastal and Inland Shipping (Cabotage) Act 2003, the Merchant Shipping Act 2007, and other applicable regulations.
Under this operation, all Ship/Vessel Owners, Operators, Managers, International and National Oil Companies, Masters and Officers of Merchant Ships, Shipping Companies, Shipping Agents, Charterers, Offshore Installations and Platforms Operators, Vessel Operators at the Free Trade Zones (FTZ), and Maritime Stakeholders operating or intending to operate within Nigerian waters are required to ensure full compliance with statutory requirements contained in existing maritime laws and regulations.
These include proper vessel registration, valid certifications, updated ownership documentation, adherence to Cabotage provisions relating to vessel ownership, registration, manning, and build.
The notice also emphasised the importance of timely payment and remittance of all statutory levies and fees as prescribed by law.
As part of the enforcement process, NIMASA will conduct random and targeted vessel inspections, verify documentation against its databases, and carry out physical and documentary compliance assessments at ports, terminals, and offshore locations. Operators will also be required to present proof of payment of all applicable levies and fees upon request.
To allow stakeholders the opportunity to regularize their operations, NIMASA has granted a thirty (30) day window from January 5, 2026 for a self-audit and voluntary compliance.
The agency warned that failure to comply after the expiration of the grace period will attract enforcement actions, including vessel detention, monetary penalties, withdrawal of waivers or operational licences, and denial of port clearance until full compliance is achieved.
The Director General of NIMASA, Mr Dayo Mobereola has assured all stakeholders of the Agency’s commitment to promoting indigenous shipping development, enhancing maritime safety and security, protecting the marine environment, and ensuring strict compliance with Nigeria’s maritime laws.
“We therefore urge all stakeholders to do their part so that together, we can build on the gains of previous regulatory achievements, which is enhanced safety, a secure maritime environment and sustainable utilisation of our marine resources,” the DG added.
General
US Drone Firm, Tompolo’s Tantita to Curb Oil Theft in Nigeria
By Adedapo Adesanya
Nigeria’s private security firm, Tantita Security Services Limited (TSSL), has entered into an agreement with a United States–based Textron Systems for the supply of unmanned aerial vehicles (drones) in a move aimed at curbing crude oil theft in the country.
Textron Systems said the drones would support security operations around Nigeria’s oil and gas infrastructure, which has continued to face threats from crude oil theft, vandalism and sabotage.
The deal also includes provisions for training and the possible acquisition of additional aircraft as Tantita expands its operations, building on a previous US Foreign Military Sales delivery of Aerosonde drone systems to Nigeria.
The Aerosonde Mk. 4.7 is designed to operate without a runway, using a hybrid quadrotor system for vertical takeoff and landing before transitioning to fixed-wing flight. The system can carry multiple payloads and conduct extended surveillance missions.
Speaking on the development, Executive Director, Operations and Technical, Mr Waredi Enisour, said Tantita officials were in the United States to inspect the drone operations and understudy the associated technical processes.
Mr Enisour added that with the latest technological acquisitions by Tantita, incidents of crude oil theft are expected to decline significantly, as the drones will provide extensive surveillance coverage across the Niger Delta region.
He disclosed that Tanttia is the first private security firm in Nigeria to acquire the Aerosonde UAV which hosts ISR capabilities.
Tantita is a company owned by a former militant leader, Mr Government Ekpemupolo, commonly known as Tompolo. Over the years, the federal government has collaborated with the former militant leader for the protection of critical oil and gas infrastructure and securing permanent peace in the oil-rich Niger Delta Region.
Oil and gas remains Nigeria’s economic mainstay, contributing nearly 90 per cent of forex earnings and 70 per cent of national revenue. However, constant oil theft over the years has made it impossible for the country to hit its peak production of 2.5 million barrels recorded in 2005, although improvement has occurred in recent years, there have been more hands-on approach.
General
Adelabu Says Missing N128bn Happened Before Appointment as Power Minister
By Adedapo Adesanya
The Minister of Power, Mr Adebayo Adelabu, has dismissed allegations of N128 billion in misappropriated public funds linked to his ministry and the Nigerian Bulk Electricity Trading Plc (NBET), insisting the irregularities occurred before his administration.
In a statement issued by his Special Adviser on Strategic Communications and Media Relations, Mr Bolaji Tunji, the minister, who is rumoured to be gunning for the Oyo State Governor position, clarified that he assumed office in August 2023, while the audit report under scrutiny pertains to the 2022 financial year.
The Socio-Economic Rights and Accountability Project (SERAP) in a statement issued on Sunday tasked President Bola Tinubu to investigate allegations that more than N128 billion could not be accounted for by the ministry and NBET Plc.
The group urged Mr Tinubu to give directive to the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN), and the appropriate anti-corruption agencies to look into the allegations of the missing N128 billion.
It declared that anyone suspected to be responsible should face prosecution as appropriate, especially if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury.
In his response, the Minister said he has no objection to calls for investigation, but noted that it was important to clearly state that he was appointed in August 2023, whereas the audit report in question relates to the 2022 financial year.
“The issues raised in the referenced audit report pertain entirely to a period before the minister’s tenure. The call for investigation, therefore, has no bearing on the operations or financial activities of the ministry under the current administration.
“The Office of the Minister reaffirms its commitment to transparency and accountability and will co-operate fully with any legitimate process aimed at addressing legacy issues in the power sector, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians,” the statement declared.
The statement also highlighted Mr Adelabu’s reputation for transparency and due process, noting that he is “widely regarded for his strict adherence to due process, probity, transparency, and accountability, as demonstrated in his previous roles in both the public and private sectors, and remains resolute in safeguarding this reputation.”
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