Bola Afolabi

As President Bola Tinubu sacks the Group Chief Executive Officer of NNPC Limited, Mele Kyari, attention has been drawn to the newly appointed one, Bayo Ojulari.

A native of Kwara State, Ojulari became very prominent between 2015 and 2021 when hew was the Managing Director of the Shell Petroleum Development Company of Nigeria (SPDC).

He was, however, until his new appointment the Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company

An alumnus of Ahmadu Bello University, Zaria, he graduated with a degree in Mechanical Engineering, he worked for Elf Aquitaine as the first Nigerian process engineer to begin a stellar career in the oil sector. From Elf, he joined Shell Petroleum Development Company of Nigeria Ltd in 1991 as an associate production technologist.

He had also worked in Europe and the Middle East in different capacities as a petroleum process and production engineer, strategic planner, field developer, and asset manager. In 2015, he became the managing director of Shell Nigeria Exploration and Production Company (SNEPCO).

During his career, Ojulari was chairman and member of the board of trustees of the Society of Petroleum Engineers (SPE Nigerian Council) and a fellow of the Nigerian Society of Engineers.

Concerned citizens appeal to Gov Sanwo-Olu, Dangote Foundation, Banks, MTN Foundation, NNPC, others to assist journalist for brain surgery

Some concerned citizens including media and corporate affairs practitioners have appealed to Lagos State Governor, Mr. Babajide Sanwo-Olu, Banks, Dangote Foundation, MTN Foundation and other notable organizations and citizens to help provide  financial assistance for Kolawole Kuforiji, a Nigerian journalist who requires Deep Brain Stimulation surgery that is expected to cost  $35,000 (USD) about N57 million in Turkey.

Specifically, friends of Kola Kuforiji that initiated moves to seek financial support from concerned organisations and citizens  have so far sent SOS For Journalist Kola Kuforiji requesting for financial assistance to Governor Babajide Sanwo-Olu of Lagos, Dangote Foundation, MTN Foundation, All Nigerian Banks through the Association of Corporate Affairs Managers of Banks (ACAMB), NNPC Foundation, Chevron Nigeria Foundation, Guinness Nigeria Foundation, Nigerian Breweries Foundation, Shell Nigeria Foundation, Total E&P Nigeria Foundation and  Babcock University.

Beside the calls for institutional supports to save the life of Kola Kuforiji, the group of friends have opened an bank account with Polaris Bank (Name of Account: SOS FOR JOURNALIST KOLA KUFORIJI/ Account Number: 1790322317) and have started making individual donations.

Donations to the fund from as little as N1,000 donor to N150,000 donors has rising to N842,940.00 from the last count.

The life of Kola, a 54-year-old husband and father of two, who had worked for about two decades with Rhythm FM (Sliverbird Group) reporting business  was turned upside down when he was diagnosed with a drug-resistant, Parkinson’s disease with pronounced difficulty in walking and tremor has been very ill for more than two years and the severity and debilitating nature of his illness has depleted the  finances of his family.

He was initially treated at   Ikorodu General Hospital, Lagos, where a presumptive diagnosis of his medical condition was made.

He was over a year ago referred to LASUTH, but there has been little improvement in his health.

Medical treatment abroad now offers the best option for his recovery with a recommendation from  Atasehir Medicana International Hospital – Atasehir / Istanbul, Turkey confirming that he will need a Deep Brain Stimulation surgery.

Over the years  Kola has explored his media platform as a strong tool to drive financial inclusion and expanding frontier of knowledge of Nigerians on the activities and stride of the energy, banking and finance sectors at large to national development.

Despite his illness, Kola remains hopeful and determined to overcome

The Board of Directors of NNPC Limited has announced a series of strategic leadership appointments.

These changes reflect our continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.

The following key appointments have been made:

1. Mr. Adedapo A. Segun has been appointed as the Chief Financial Officer (CFO). Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.

2. Mr. Isiyaku Abdullahi has been named Executive Vice President (EVP), Downstream.

3. Mr. Udobong Ntia has been appointed Executive Vice President (EVP), Upstream.

These appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organization’s strategic objectives.

The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.

NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritizing the interests of the Nigerian public in the petroleum industry.

The Shell Petroleum Development Company of Nigeria Limited (SPDC JV) – Operator of the NNPC Limited, SPDC, TotalEnergies and Nigerian Agip Oil Company Joint Venture– has, announced the donation of US$1 million to support efforts to provide relief to over half a million people displaced in flood impacted communities of Borno State.

“The donation will go into the procurement and distribution of relief materials and medical supplies for displaced residents who are now in urgent need of critical aid,” said Managing Director, SPDC, and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, adding that a Non-Governmental Organisation (NGO), local to the region with understanding of working with displaced people, will manage the distribution of the materials in collaboration with the Borno State Emergency Management Agency.

According to Okunbor, the SPDC JV intervention was in response to the alert issued in September by the National Emergency Management Agency (NEMA), following the significant rise in water levels caused by the overflowing of the Alau Dam, and the calls for support by Borno State Governor, Babagana Umara Zulum.

“We consider providing this support to be of necessity to demonstrate our commitment to our society and the duty of care to our people. It expresses our deep concern for the victims of the devastating floods in Borno State,” Okunbor said.

He noted that the SPDC Joint Venture’s gesture is a continuation of similar assistance given over the years to the region that is recovering from recent conflicts.

Chief Upstream Operating Officer of the NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, in a statement, added, “The urgency in providing this relief is important given the region’s existing vulnerabilities, with people recently barely recovering from conflict-induced displacement. The flooding has severely disrupted socio-economic activities, with women and children being disproportionately affected and we are glad that the joint venture is able to provide succour at this time.”

Wunti said, “As a responsible corporate organization, NNPC is glad to support the SPDC Joint Venture in this essential activity. Our thoughts are with those affected and with the government agencies working tirelessly to provide relief. We pledge to support ongoing efforts through immediate humanitarian aid and long-term partnerships for sustainable recovery.”

The Nigerian National Petroleum Company Limited has said that it does not sell fuel in bottles and jerrycans.

This is in response to of selling adulterated petroleum products at its retail outlets.

The company made this clarification in a statement issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Thursday.

Soneye’s statement was in response to a video in which a man alleged that a dark liquid in a jerrycan was purchased from an NNPC retail outlet in Keffi.

Soneye described the allegation as false, stressing that the NNPC does not sell fuel in jerrycans.

“The attention of the Nigerian National Petroleum Company Limited has been drawn to the video clip of someone pouring a dark liquid that he claims to be Premium Motor Spirit, which was purportedly bought from an NNPC retail outlet at Keffi Flyover. We wish to state that we have carried out spot checks at all our outlets and found this claim to be false,” Soneye said.

“The product was not, and could not have been, bought from any NNPC retail outlet, as the company does not dispense petroleum products into bottles or jerrycans, as shown in the video.”

He further stated, “NNPC retail does not deal in adulterated products, as it adheres to rigorous standards and quality control measures at every stage in its operations to ensure that only high-quality, safe, and reliable petroleum products are available at its stations nationwide.”

The NNPC spokesperson urged the public to disregard what he termed the “spurious claims” made in the video and to be cautious of selfish and unpatriotic elements who promote such narratives, which he said do not serve the best interests of the country.

“We take pride in maintaining accurate pump integrity through regular inspection and calibration to ensure consistency across our stations nationwide,” he added.

In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects. 

NNPC Ltd’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024 Gas Technology Conference and Exhibition (Gastech), in Houston, United States, on Thursday. 

Brass LNG and OK LNG are two LNG projects with the potential of manifold economic benefits for the country which include job creation, power generation, revenue generation and economic diversification. The multi-billion dollar projects were however stalled due to unfavourable market dynamics and slow decision-making by the political class in the past. 

“In the past, gas prices went down, the economics of the projects meant a high Capital Expenditure (CAPEX) and this was a dis-incentive for investors and partners. Also, there was slow decision-making by the political class,”’ the CFO added. 

According to Olufemi Soneye, Chief Corporate Communications Officer at NNPCL, while describing NNPC Ltd as a commercially driven Company which recognises timely project development and execution, the CFO said there are abundant gas resources in many parts of the world and therefore, the earlier Nigeria makes smart decisions to bring partners to the table, the better. 

Ajiya commended President Bola Ahmed Tinubu for his support in driving new projects in the Industry through the Presidential Executive Orders on Oil & Gas Reforms.

 “We are also happy to have the Petroleum Industry Act (PIA) has provided fiscal incentives for investors and is creating the enabling environment that has rekindled hope in the energy sector.”  

Ajiya described Gastech as an avenue for NNPC Ltd to learn new technologies which will help the Company decarbonise its operations and promote its abundant LNG resources to the global market. 

Gastech is the world’s leading forum dedicated to delivering a more sustainable energy future by bringing together experts who brainstorm to create pathways towards global energy security for lasting climate impact.

The Federal Government has announced that the Dangote Refinery will start the distribution of petrol to Nigeria on Sunday, September 15.

It said ithe company would deliver 25 million litres of the product and that would be the daily routine for now.

This is as the FG said only Nigerian National Petroleum Company Limited would be the sole buyer of Premium Motors Spirit from Dangote Refinery.

It also noted that interested marketers would have to buy the product from the national oil firm through its trading company.

As ‘The Punch’ reports, this was part of the agreement reached with the management of Dangote Refinery on the commercial terms for the supply of crude oil to the refinery and the off-taking and distribution of petrol and diesel from the facility.

The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, disclosed this at a press briefing on Friday in Abuja.

The latest development, however, contradicts NNPC’s claim in a statement early this month that it does not intend to be the sole distributor of petrol produced by the Dangote refinery.

The directive also implies that the government can still control the pricing of the product as it would be based on the agreement between the government and the refinery.

The minister, represented by the Executive Chairman of the Federal Inland Revenue Service, Dr Zacceus Adedeji, also announced that Dangote refinery would commence the distribution of petrol to marketers on Sunday with an initial 25 million litres per day.

He said, “I am glad to announce that all agreements have been put in place, and the loading of the first batch of PMS, as already announced by NNPC, will commence on Sunday, September 15, 2024. And from October 1, NNPC will commence the supply of crude oil to Dangote Refinery to be paid for in naira. In return, Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in naira.”

“But for now, PMS will only be sold to NNPC. NNPC will then sell to various marketers.”

The minister also said all associated regulatory costs pertaining to the Nigeria Ports Authority, Nigerian Maritime Administration and Safety Agency and others would also be paid for in naira.

“Diesel will be sold in naira by Dangote Refinery to any interested off-taker. All associated regulatory costs -NPA, NIMASA, Federal Inland Revenue and all other Regulatory fees that are associated with this transaction will be paid in naira.

“The technical committee that worked to flesh out this initiative, I mean this committee will transition to an implementation, Execution and Monitoring Committee that will be working out of the Lagos for the next three to six months,” he added.

The Nigerian National Petroleum Company Limited (NNPCL) has  reacted to an accusation that it is preventing Dangote Refinery from selling petrol at lower prices.

This is as it said it was not monopolising the supply of petrol by the mega refinery.

Its Chief Corporate Communications Officer, Mr Olufemi Soneye made this known in a  rejoinder at the weekend.

He said the attention of the NNPC Ltd has been drawn to a statement by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the Nigerian National Petroleum Company Limited (NNPC Ltd).

He said specifically, MURIC asserts that recent changes to the pump price of Premium Motor Spirit (PMS) will prevent the Dangote Refinery from offering lower prices and that NNPC Ltd has become the sole offtaker of all products from the refinery.

Setting the  records straight, the rejoinder said:  “The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd (DRL), is determined by global market forces. The recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market.

” In fact, if current prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market.”

The rejoinder reads in part:  “Furthermore, we emphasize that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the DRL.

“The NNPC Ltd will only fully offtake PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria. The DRL and any other domestic refinery are free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products.

“The NNPC Ltd cannot undermine a business in which it holds a billion-dollar stake.

” As an advocacy group for fair and just treatment, MURIC should have verified the facts before making statements that are entirely flawed and has the potential to incite ordinary Nigerians against the NNPC Ltd.”