The Foundation for Partnership Initiatives in the Niger Delta (PIND) and the Market Development Project in the Niger Delta (MADE), recetly partnered with the Nigerian Economic Summit’s Sustainability Policy Commission to sponsor a breakout session at the Transcorp Hilton in Abuja themed “Low Carbon Investment Opportunities for Economic Recovery and Growth Plan (ERGP) in Niger Delta Communities”.
This year’s edition of the annual Nigerian Economic Summit themed “Opportunities, Productivity, and Employment: Actualizing the Economic Recovery and Growth Plan”, was a direct response to the Nigerian government’s plan to strengthen and diversify the Nigerian economy. The expectation was that the ten policy breakout sessions will generate short, medium and long-term plans that address the challenges on economic inclusion, access to capital, legislation, skills building, and local production.
Competent Professionals Should Manage Nigeria’s Petroleum Industry
– Professor Iledare
At the 7th Emmanuel Egbogah Legacy lecture series held recently, the Director of Emerald Energy Institute (EEI), University of Port Harcourt, Professor Wumi Iledare pointed out clearly that the oil industry in Nigeria is moving away from status quo to value added creation. Professor Iledare responded to questions from Energy Correspondents at the legacy lecture that university is a place where ideas are generated. He was of the view that Nigeria should innovate in order to equate with current realities while the government should restrained itself from discretionary award of licences to people who are not technically inclined. He advocated for the petroleum ministry, just like its counterparts in finance and justice that are managed by professionals, it should also be handled by seasoned minds. He appraised the extent to which local content has improved in the country.
Aiteo Set to Lift Force Majeure on Nembe Trunk Line
Aiteo, owner of the Nembe Creek Trunk Line, NCTL, says it will lift the force majeure on the facility, before the end of October. According to a source privy to current activities towards the return of the crude oil pipeline, this will follow completion of repairs and maintenance work, which commenced in the middle of September. The closure of the pipeline is costing Nigeria 150,000 barrels per day, bpd, of crude oil. “Repairs and maintenance have been rounded up on the Nembe Creek Trunk Line and it will be re-opened for activities any time from now, latest October ending”, the source hinted.
Nigeria Needs Independent Enforcer to Regulate the Oil Industry
– Dr. Layi Fatona
Dr.. Layi Fatona is one of the pioneers of marginal field development and leading light in Nigeria’s oil industry with vast experience as a practitioner. Recently, at the Emerald Energy Institute (EEI) in the University of Port Harcourt, Fatona spoke with energy correspondents on some cogent issues about the oil industry. Fatona noted that Nigeria is so endowed with energy resources but it is the largest oil refining product importing country in Africa. He said that the average energy use by Nigerians per day is 14 wax which is not good for a country endowed with oil. The Managing Director of Niger Delta Petroleum Resources (NDPR) made it known that some multinational companies pay less tax. He explained that the newly passed Petroleum Industry Governance Bill (PIGB) will go a long to repair damages in the petroleum industry but there has to be independent enforcer to regulate the petroleum industry while defaulters should be punished without fear of favour.
Fashola Urges Nigerians to Invest in Solar Energy
The Minister of Power, Works and Housing, Babatunde Fashola, has urged Nigerians to invest in solar energy to reduce pressure on national grid. Fashola gave the advice in Lagos at a book launch titled, “Solar Electricity Generation for off-grid communities in Nigeria”. The book was authored by Oladele Amoda, Managing Director, Eko Electricity Distribution Company (EKEDC). The minister, however, allayed the fears of the Electricity Distribution Companies (Discos) over the promotion of the deployment of more solar power through mini-grids and other Federal Government initiatives aimed at improving service in the power sector. According to him, Nigerians should invest in solar energy to relieve the pressure on national grid because solar energy remains energy for the future.