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NNPC targets 1bn crude oil reserves yearly – Baru

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Baru

Baru

Dr Maikanti Baru, the Group Managing Director of Nigerian National Petroleum Corporation (NNPC) said the corporation would increase the country’s crude oil reserves by one billion barrels yearly to attain 40 billion barrel by 2020.

Baru gave the assurance during his keynote address titled: “Driving Nigeria’s oil and gas Industry towards Sustained Economic Development and Growth,” at the ongoing 17th Nigerian Oil and Gas conference in Abuja on Tuesday.

He said the corporation was also working towards increasing daily oil production to three million barrels per day (bpd).

The NNPC boss said the corporation would also ensure that the Nigerian Petroleum Development Company (NPDC) grew its production to 500,000bpd of oil and 1.5Bscfd of gas by 2020.

He commended the innovative and bold strides of the organisers of the conference in providing a platform for the interaction and cross fertilisation of oil and gas industry ideas in Nigeria.

He said the event had become a household name and hoped that the gains would be sustained.

“The journey has been quite challenging and exciting as well. We have journeyed through hills and valleys, through bumps and stumps; nonetheless, our resilience has ensured that NNPC continues to stand shoulder high.

“According to him, the corporation’s outlook for 2018 and beyond is to be in the capital market to raise more finance for new oil and gas projects,” said Baru.

He said funds raised would be used to finance projects such as the NNPC/NAOC JV Idu-redevelopment, South Gas Project, North Gas Project and Central Gas Project.

The others are: NNPC/TEPNG JV’s Ikike Project, NNPC/SPDC JV Southern Swamp and Associated Gas Solution Step 2 Project amongst other new projects.

“We intend to sanction the multibillion dollars Bonga South West/Aparo (BSWA) project as soon as we conclude an agreement on the Heads of Terms with SNEPCO on the various pending PSC Arbitration disputes.

“This will jump-start the resolution of all the other Production Sharing Contract (PSC Arbitration Disputes),” he said.

Baru said in terms of gas production, the domestic demand for gas in Nigeria was unprecedented, with a current daily realistic gas demand of 4,000mmscfd.

He added that the figure was expected to grow to about to about 7,500mmscfd in the next five years.

“However, within the next three years, with our Joint Venture partners, we are committed to increasing natural gas availability from the current 1.5bscf/d to about five billion standard cubic feet per day in 2020,” said Baru.

According to him, the government would supply enough gas to generate up to 15GW of electricity to the power sector by 2020 and stimulate gas-based industrialisation.

“We would continue to progress with our seven Critical Gas Development Projects (7CGDP) which has also been established to deliver about 3.5bscfd of gas to the domestic market by 2020.

“Recently we approved 2.8 billion dollars, 614Km Ajaokuta-Kaduna-Kano (AKK) pipeline project as a demonstration of our commitment which anchors on developing structured gas architecture across the length and breadth of Nigeria.

“This trajectory will continue to be our priority in the medium to long term,” he said.

The NNPC boss said the continued implementation of the gas master plan remained a core focus of the corporation.

He explained that gas pricing had been adjusted to export parity, and legacy debts owed by the various sectors to suppliers were being paid through an intervention fund arranged by the Central Bank of Nigeria.

He said gas supply agreements would continue to be made effective with terms that assured bankability to provide the relevant comfort to the producers.

“The World Bank Partial Risk Guarantee (PRG) would be sustained to provide securitisation of gas revenues. These interventions are boosting confidence in the gas sector.

“On the gas export market, part of our strategic aspiration for gas is to strengthen our footprint in high value gas export through LNG and aim to secure about 10 per cent of global market share of traded LNG.

“On the expansion of our existing 22MTPA NLNG plant, we are at the verge of taking Final Investment Decision (FID) this year for additional 8MTPA NLNG Train 7 Plant,” said Baru.

Wemimo Oyelane, the Vice- President, Production of CWC Group, lauded the contribution of late Dr Alirio Parra, the founder of Nigerian Oil and Gas Conference towards bringing stakeholders together to discuss issues to move the industry forward.

Oyelana urged stakeholders to continue to contribute to the development of Nigerian oil and gas sector. (NAN)

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FG Commissions First Mobile Radio Frequency Monitoring Equipments

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Dr. Adebayo Shittu

Dr. Adebayo Shittu

BY SARAUNIYA G USMAN,ABUJA

The Federal Government, through the ministry of communication has commissioned the first-ever Mobile Radio Frequency Monitory Equipment, National Spectrum Management System, Denial of Service (DOS) Equipment and a National Control Centre.

During the commissioning of the devices today at the Shehu Musa Yar’dua’s Centre,the Minister of Communications, Dr. Adebayo Shittu,
described the development as historic and necessary, looking at the fact that the Ministry is the Secretariat of the National Frequency Management Council (NFMC).

Dr. Shittu who expressed joy on the successful delivery of the equipment and explained that it is a pioneer project of the current administration and being first of its kind after several attempts and efforts by past administrations to get funding for the project proved abortive.

“With these facilities in place, the Ministry now has the capacity to detect, identify and locate the sources of transmissions and is, therefore, able to determine if a frequency user is duly licensed or not”.

“In addition, the use of the state-of-the-art equipment would enable the Ministry to ensure that duly licensed users of radio frequency spectrum operate in compliance with technical specifications,” the Minister maintained.

He disclosed that Ministry of Communications had in March 2017 secured the federal executive council’s (FEC) approval to award a contract for the project to Messrs.’ TCI International Inc., USA at the cost of Nine Million, Eighty-Five Thousand, Forty-Three US Dollars, Ninety-Three Cents ($ 9, 085, 043. 93) for the supply, installation, and commissioning of the sophisticated world class monitoring devices.

The devices include five state-of-the-art Mobile Radio Monitoring Equipment, a National Spectrum Management System, two Denial of Service (DoS) equipment and the establishment of a National Control Centre.

In his words,, “Radio Frequency Spectrum is a very important and scarce resource that supports and drives the Multi-billion dollar wireless telecommunications and ICT industry globally, hence, must be managed well for its efficient, judicious and equitable use by various radio communication services to drive the socio-economic development of our country”, He stated.

The Minister said that each of the five monitoring vehicles would now be deployed to each of the Monitoring Centers in Gusau, Zamfara state to cover the North Western States, Ipaja, Lagos to cover the South Western States and Ogoja, Cross River State to cover States in the South-South while each of the two Denial of Service equipment would be deployed to Abuja and Lagos to serve the North Central and Southern States respectively.

He urged all Ministries, Departments and Agencies, Private individuals and organisations that use the frequency spectrum to first obtain authorisation from the Ministry of communications before procuring and operating any radio communications equipment.

Dr. Shittu warned that all operators of unauthorised frequency spectrum should formalise their operational status to avert appropriate sanctions. He added that the ministry has incorporated other components which are aimed to guarantee the durability of the equipment having trained 29 engineers, technologists, and other professionals to effectively Mann the facilities.

The manufacturers, according to him, have given six (6) year warrantee for the equipment to serve without any defect with the company taking care of maintenance and management of the facilities without demanding a dime from the Federal Government.

In her address at the event, the Permanent Secretary of the Ministry, Mrs Nkechi Ejele said, the project was born out of a dire need of the Ministry of Communications to show exemplary leadership in the promotion and development of the telecommunications and ICT industry in Nigeria.

Nkechi added that the devices would proffer requisite infrastructure, skills, technical competence and capacity to aid the Ministry in policy formulation for effective management of the natural but scarce frequency spectrum resource, to curb its irregular and illegal usage.

Earlier, the Chief of Defence staff, General Abayomi Olonishakin, who was represented by Maj. Gen. JA Orokpo, described the project as a noble idea, noting that the project has the capacity to play a great role for the Nigerian armed forces in dealing with the terror activities of Boko Haram in the North Eastern Nigeria.

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PT’s candidate to grow economy to $4trn

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PT’s presidential candidate

PT’s presidential candidate


Mr Gbenga Olawepo-Hashim, Presidential Candidate for People’s Trust Party, has pledged to grow Nigeria’s economy from $510 billion (its highest in 2013) to $4 trillion in 10 years, if elected.

Olawepo-Hashim told the News Agency of Nigeria (NAN) in Abuja the economy would be grown to be at par with that of Malaysia, Thailand and other middle income economies.

“We are not setting standards like we want to become the United States of America; we just want to be where we were in 10 years, where we were in 1960.

“A $510 billion GDP as at 2013 when we celebrated being the biggest economy in Africa is of course too small for 200 million people as our projected population is now.

“Nigeria needs a $4 trillion economy to become a middle income economy; that’s our target and it’s doable and we have set up a strategy to achieve this,’’ he said.

He also proposed to effect a minimum wage of N50,000 for workers, noting that the standard of living for Nigerian workers was quite low.

“I am going to have a N50,000 minimum wage and that is lower than the minimum wage that Nigerian workers were awarded in 1983 which was N125; at that time you needed 55 kobo for a dollar.

“So basically, N125 minimum wage was more than N60,000 of today’s Nigeria; so by the grace of God when elected, the minimum wage by the first anniversary of our government will be N50,000 in Nigeria.

“That is what I believe is decent for an average worker; you can’t deal with corruption when you underpay people,’’ he said.

He said his government would prioritise tourism, restructure the education system and expand income through infrastructure funds, solid minerals, foreign investments, and intellectual capital protection.

He promised to promote knowledge-based economy through effective copy right laws to ensure that innovators get due reward for their work and protect Nigeria’s intellectual property.

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FG, KOICA to Launch Phase2 ICT Project

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Adebayo Shittu

Adebayo Shittu

BY SARAUNIYA G USMAN, ABUJA

The Federal Government and Korea International Cooperation Agency (KOICA) are collaborating to launch second phase of partnership in ICT that would develop experts and highly skilled labor in information and Communication Technology (ICT) in Nigeria.

This was disclosed yesterday when a high powered delegation from the KOICA office, led by its Country Director, Sook Hyun Park paid a courtesy visit to the Ministry of Communications, Abuja.

The country Director said that, South Korean government through KOICA has enjoyed a strong partnership with Federal Ministry of Communications in its e-government capacity building project for the past 7 years.

“Our first e-government project which has existed for the past 7 years with a strong partnership with Federal Ministry of Communications would be concluded next year.

We shall keep our effort and support to Nigeria. E-government in the 2nd project which we plan to embark upon, we are interested in developing human skilled labor in ICT areas hence, the need for the Minister to share his expertise and ideas that would be of good direction to the Federal Government ”, the Director stated.

Sook Hyun stated that KOICA’s visit to the Ministry of Communications was aimed at introducing the agency’s upcoming project (phase 2) being worked towards year 2020 and beyond, following the conclusion of the introductory (first phase) which would be concluded by 2019.

In his contribution, Headquarter Coordinator, An Kwangsoo, said KOICA as an agency was set to move from the introductory part of its partnership project which was focused on e-government capacity building, scholarship for masters and PHD Degrees in Korean Universities for Nigerians to a bigger phase in order to assist Nigeria in achieving the implementation of her e-government master plan.

In his remarks, the Minister of Communications, Dr. Adebayo Shittu thanked KOICA on behalf of the Federal Government, for generously investing so much towards the development of Nigeria, particularly in areas of e-government and capacity building.

The Minister said that, Federal Government cannot take KOICA’s selfless cooperation for granted and urged them to sustain the smooth relationship that is being enjoyed by both parties in service to humanity.

He urged the Agency to meet with the Ministry’s e-government department to work together for a very beneficial launch of the 2nd phase of broader partnership between the federal government and the Republic of Korea via KOICA.

In the new phase, Shittu urged the Agency to make conscientious efforts to ensure at least 100,000 civil servants are trained annually, to improve Nigeria’s system of operations to be more effective and efficient.

He also appealed to them to collaborate with the Nigerian Universities by sending technology gurus from the Korean universities to impart technological ideas and knowledge to students in Nigeria who shall in turn train others.

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