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Iran to boost oil production by 3.4mbpd

The Islamic republic expects to boost production to 3.4 MMbpd by the end of summer, according to Oil Minister Javad Owji. That would put output near Iran’s capacity limit of 3.8 MMbpd.

According to Bloomberg, Iran has already boosted production by about 50 per cent over the past two years, according to comments Owji made to the Iranian parliament’s energy committee reported by the ministry’s news service, Shana.

Owji’s remarks come amid diplomatic efforts between the U.S. and Iran that have raised speculation about whether aspects of the nuclear deal abandoned by former President Donald Trump in 2018 could be revived. The two nations recently reached agreements that would see captive Americans released and some frozen Islamic republic funds freed for transfer.

Further talks could set the stage for Iran to boost its already surging oil exports. The nation shipped 2.2 MMbpd of crude and condensates during the first 20 days of August, with monthly exports poised to reach the highest this year, according to TankerTrackers.com Inc., which provides data on oil cargo shipments, Bloomberg said.

At the same time, the country’s boom in oil sales, most of which are flowing to China, has complicated efforts by OPEC to support oil prices, with Iranian barrels partially countering recent output cuts agreed by Saudi Arabia and Russia. That’s weighed on oil prices, with global benchmark Brent crude trading below $85 a barrel.

The revival in Iran’s output has coincided with the nation reaching a preliminary accord with regional adversary Saudi Arabia in April, as well as the latest US diplomatic talks. The Persian Gulf state that was once the second-largest producer in the Organization of Petroleum Exporting Countries saw its energy industry starved of investment under successive rounds of sanctions, while its crude exports were throttled under Trump’s policy of maximum pressure.

While Iranian exports are very hard to track — with vessels turning off satellite tracking systems to mask their routes — the data TankerTrackers indicates that Iran is drawing crude out of land-based storage tanks. The country processes roughly 1.8 MMbbl of crude at domestic refineries each day.

08/26/2023
Port Harcourt refinery to resume operations by December -FG

*We’re committed to ending fuel importation, says Minister

The Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity.

According to a statement on hits X handle, Chief Corporate Communications Officer NNPC Ltd. Garba Deen Muhammad, said the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made this known during an inspection tour of the rehabilitation work progress at the Port Harcourt Refining Company (PHRC) Ltd. plant, in Port Harcourt on Friday.

The Minister, who was in the company of his counterpart, the Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo; Permanent Secretary, Federal Ministry of Petroleum Resources, Ambassador Gabriel T. Aduda, and the Group CEO, NNPC Ltd., Mr. Mele Kyari, said considering the level of progress recorded in the PHRC rehabilitation project, the plant will come back on stream by December this year.

“Our objective in coming here today is to ensure that in the next few years, Nigeria stops fuel importation. From what we have seen here today, Port Harcourt Refinery will come on board by the end of the year, Warri will come on stream by the end of the first quarter of next year, and Kaduna will also come on board towards the end of next year. If you add that to the Dangote Refinery, we will be able to stop fuel importation, and Nigerians will enjoy the full benefits of deregulation,” the Minister assured.

The Minister also said he was satisfied with the ongoing rehabilitation work at the Port Harcourt refinery, noting that once all the refineries are back on stream, Nigerians will enjoy a better supply of petroleum products, and foreign exchange will be domesticated, leading to an improved economy.

Earlier in his remarks, the Group CEO, NNPC Ltd., Mr. Mele Kyari, said bringing back the refineries to their optimal levels is a national aspiration, and the Company remains focused on delivering that.

“We are aware of our nation’s challenges in terms of fuel supply. But we are not here to give excuses. We are focused on delivering this rehabilitation project, our two other refineries, and all other investments towards revamping the nation’s refining capacity. We are hopeful that in 2024, this country will be a net exporter of petroleum products,” Kyari stated.

Also speaking, the Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo said: “We are here to go into the field. Yesterday was the era of subsidies. Today, we don’t have subsidies. Today, people are in a desperate situation to heave a sigh of relief; and see how to live. You all know that petrol is very vital to our economy. All hands must be on deck to ensure that the refineries are working,” he stated.

During the visit, the two Ministers also participated in the Refineries’ Rehabilitation Steering Committee meeting and held a meeting with the refinery’s Engineering, Procurement & Construction (EPC) Contractors.

08/26/2023
Mrs. Tinubu extends scholarship grants to 43 students

In a significant stride towards educational empowerment, Senator Oluremi Tinubu, the First Lady, granted scholarships to 43 higher education students during a ceremony held in Abuja.

The scholarships were bestowed through the National Scholarship Programme (NASP) under the Renewed Hope Initiative (RHI).

During the inaugural event of the initiative, Senator Tinubu announced that each recipient would receive N4 million per annum for four academic sessions along with a brand-new laptop.

She expressed her belief that the Renewed Hope Initiative’s scholarship would be a transformative force, reshaping the destinies of youth across the nation.

Highlighting the value of quality education as a fundamental right for every child, Senator Tinubu emphasized the collective responsibility of the populace to ensure that access to education is not hindered by financial constraints.

She lamented that many young individuals are unable to pursue tertiary education due to financial limitations and reiterated the importance of providing opportunities for every child to reach their fullest potential.

The First Lady underscored the scholarship program’s alignment with President Bola Tinubu’s administration’s commitment to accessible tertiary education, especially with the introduction of the student’s loan scheme.

She outlined the RHI scholarship initiative as a promise to stand by the youth, acknowledging their dreams and aspirations as significant.

Senator Tinubu emphasized that the scholarship program aimed not only to offer financial support but also to foster an environment where talents are nurtured and potentials recognized. She envisioned a country where quality education is accessible to all children, regardless of their background.

The initiative garnered support from various stakeholders, with the Nigerian Communication Commission (NCC) contributing 50 laptops to aid the cause. Senator Tinubu praised the cooperation of coordinators, governors’ wives, service chiefs’ spouses, and other organizations that played a role in realizing the program.

Beneficiaries from all corners of the nation expressed their joy and gratitude for the opportunity. Awardees like Adijat Ayodele, Daniel Sunmonu, Eze Ijeoma, and Usman Sanni shared their happiness regarding the grants.

The selection process ensured representation from every state and the FCT, with nominees being chosen by their respective state governors. Criteria included having proof of admission to a Nigerian tertiary institution, good academic standing, and maintaining a GPA of 3.0 and above.

Senator Oluremi Tinubu’s scholarship program through the Renewed Hope Initiative marks a vital stride towards nurturing talents and breaking down barriers to quality education, ultimately fostering a brighter future for Nigeria’s youth.

08/26/2023
Police seize 820 cartons of counterfeit, expired drugs in Kano

The Kano Police Command reported on Saturday that it successfully confiscated a total of 820 cartons of suspected counterfeit and expired drugs from Malam Kato Market in Fage Local Government Area of the state.

According to a statement released by SP Abdullahi Kiyawa, the Command’s Public Relations Officer, the drugs were discovered in two warehouses situated within the market premises.

The confiscated drugs encompassed a variety of items, with 514 cartons of emistxmin/emstifer syrup, 219 cartons of 5mg Lisinopril tablets, 7 cartons of 5mg amlodipine tablets, 87 cartons of 50mg atenol, 40 cartons, and 3 cartons of Frusemide injection among the seized products.

Acting on the directive of the state Commissioner of Police, Usaini Gumel, a team of detectives was dispatched to the scene to oversee the evacuation and recovery of the drugs.

Subsequently, the recovered drugs were handed over to the National Agency for Food and Drug Administration and Control (NAFDAC) for further investigation and appropriate action.

SP Abdullahi Kiyawa emphasized the importance of community involvement in maintaining public safety.

He urged residents to promptly report any suspicious individuals or items to the police, ensuring that necessary actions can be taken to safeguard public health and well-being.

This operation underscores the commitment of law enforcement agencies to combat the distribution and sale of counterfeit and expired drugs that pose significant risks to the population.

08/26/2023
Customs confiscates contraband worth N164.8m in Kebbi

The Nigeria Customs Service (NCS), Kebbi Area Command has seized contraband worth N164.8 million in the state.

Dr Ben Oramalugo, the Area Controller of NCS in the state, said this at a press conference on the achievements of the command on Saturday in Birnin Kebbi.

He said, “We directed our officers to intensify surveillance in all the nooks and crannies of the state, having had credible intelligence on the impending activities of smugglers.

“The following items were, therefore, seized during the period; 371 parcels of cannabis sativa, otherwise called Indian hemp, intercepted at Kawara water side, in Suru Local Government Area.

“We also seized 98 packs of diazepam,10 sacks of snuff, 1,080 pieces of donkey skin, 37 bags of foreign parboiled rice, 300 litres of PMS, 16 bales of secondhand clothing and used Toyota Corolla as means of conveyance, among others.”

The area comptroller pegged the duty paid value of the seized items at N164.8 million.

On illegal drugs, he said the command had handed over cannabis sativa and hard drugs worth N94.8 million to the National Drug Law Enforcement Agency (NDLEA).

“The seizure of such drugs is in line with the vow we made and our determination to rid the state of drug inflow and all items capable of causing harm to Nigerians,” he said.

Alhaji Sulaiman Usman, the NDLEA Commander who received the drugs, thanked the NCS for its efforts in curtailing the menace of illegal importation of drugs and anti-smuggling activities in the state.

“This is in line with the untiring effort and drive of our Chief Executive Officer/Chairman of NDLEA, Buba Marwa, in combatting the menace of drug abuse and smuggling in the country,” he said.

He also condoled the command over the killing of two of its personnel on Aug. 24, by suspected bandits.

Also, Alhaji Abdul-Razak Bashir, the state Commandant of Nigerian Agricultural Quarantine Service, who received the seized donkey skin, lauded the customs for their sustained fight against smuggling of endangered species.

08/26/2023
Navy deploys Deep Blue assets to secure Nigerian waters

The Nigerian Navy says assets acquired by NIMASA under the Integrated National Security and Waterways Protection Infrastructure, otherwise known as the Deep Blue project, have been fully deployed.

This is contained in a statement by the Acting Fleet Commander, Western Naval Command and Commander Deep Blue Project, Commodore Victor Choji, in Lagos at the weekend.

He said the deployment was across the South West, Central and Eastern Zonal operations to enhance patrol of the Nigerian maritime domain.

Choji made the declaration during a working visit by the Flag Officer Commanding (FOC), Western Naval Command, Rear Admiral Mohammed Abdullahi to the Management of Nigerian Maritime Administration and Safety Agency (NIMASA).

He added that the Nigerian Navy under the leadership of the Chief of Naval Staff, Rear Admiral Emmanuel Ogalla was fully committed to the success of the Deep Blue Project.

“The assets have already been well deployed; as we speak five armored vehicles are deployed in Port Harcourt and three in Bonny.

“The project team deployed 10 more vehicles there, in addition to a drone unit in Bonny and some personnel,” the commander added.

According to him, the mere presence of the deep blue assets in those locations during the last General election provided the needed inference required.

Choji also said that in the Central Zone Command, the Navy had deployed three units of special mission elements in Brass and two of the interceptor boats, and a special intervention force to the central command.

“In Lagos, just last week, we got a directive that there is a requirement and we are about to deploy two interceptor boats to support the operations that are ongoing in Lagos Inland waters.

“I can state categorically that we have the full backing of the Nigerian Navy for the success of the Deep Blue Project,” Choji said.

On his part, the Director General of NIMASA, Dr Bashir Jamoh, said that the assets acquired by the agency under the Deep Blue Project were being managed by a project team headed by a Commodore of the Nigerian Navy.

He restated the Agency’s commitment to a robust relationship with the Nigerian Navy towards the economic development of the country.

“I believe that the agency and the Nigerian Navy have a lot in common to ensure safety and security in the nation’s waters.

“While the Nigerian Navy takes care of the kinetic operations, NIMASA concentrates on non-kinetic operations, and the two will have to go hand in hand if we must succeed.

“If you look at the Armed Forces Act, the Nigerian Navy has a role to play in ensuring the implementation and enforcement of the NIMASA and Customs and Excise Acts,” he said.

Jamoh expressed the desire of NIMASA to earn full value for funds invested and invest more in the operations of the Deep Blue Project.

He said that the agency was in constant liaison with the National Assembly to update of the nation’s maritime laws with particular reference to the Merchant Shipping Act.

This, he said, was to guarantee adequate punitive measures to deter criminalities on Nigerian waters.

While commending the Nigerian Navy for their efforts in tracking erring vessels which switched off their Automatic Identification System, AIS, Jamoh called for improved synergy among all organs of government in the maritime sector.

“Particularly, the Nigerian Navy and the marine arm of the Nigerian Police to quickly tackle head on, pockets of recent criminalities in the Lagos anchorage and inland waters,” he said.

08/26/2023
Tinubu appoints NELMCO boss, Dekalu-Thomas

President Bola Tinubu has approved the appointment of Mrs Mojoyinoluwa Dekalu-Thomas as the new Managing Director and Chief Executive Officer of the Nigeria Electricity Liability Management Company (NELMCO).

A statement by Mr Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, at the weekend in Abuja, said the appointment was for a term of four years.

Dekalu-Thomas has served as the acting MD/CEO of NELMCO since the tenure of pioneer NELMCO MD/CEO, Mr Adebayo Fagbemi, ended on May 8.

Ngelale said that her new appointment has created a vacancy at her previous position of Executive Director, Liability Management.

He said that the President has, therefore, approved the appointment of Mr Dimla Nchinney to serve in NELMCO as the substantive Executive Director, Liability Management.

The presidential spokesman said that the appointments took immediate effect.

08/26/2023
No immediate floods threat in Nigeria – FG

Prof. Joseph Utsev, the Minister of Water Resources and Sanitation, has said there is no immediate threat of flooding, whilst calling on the government at all levels to put measures in place to prevent flood emergencies.

Utsev told newsmen in Abuja that the Nigeria Hydrological Services Agency (NIHSA) had observed an increase in the volume of flow along the River Benue system, registering a flow level of 8.97 meters today.

This, he said, was insignificant, as compared to a flow level of 8.80 meters on the same date in 2022.

According to him, reports from inland dams including Kainji, Jebba, and Shiroro also showed a consistent flow regime.

“In Lokoja, the heightened flow volume along the River Benue system, the flow situation at the confluence of the Niger and Benue rivers in Lokoja, Kogi State, remains within normal parameters.

“The flow level at the monitoring station downstream of the confluence records 7.80 meters today, compared to 8.24 meters on the same date in 2022.

“As at today, there is no threat to lives and properties, especially those states that are contiguous to Rivers Niger and Benue.”

The minister called on all tiers of government to ensure preparedness and deploy appropriate measures to minimise the potential impact of flooding during the peak of the rainy season.

He called on states to increase sensitisation on the need for people living along the river banks to relocate to higher grounds during the peak period of rainfall.

“States and Local Governments should intensify efforts in clearing blocked drainages and also construct new ones where they do not exist.

“Removal of illegal structures constructed within the floodplains, the general public, especially road users, should desist from walking or driving through any pool of water or flood”.

The minister said it was important to acknowledge the period of heavy rainfall, flooding, and flood-related disasters that typically occured during July, August, September, and October.

According to him, Dam water releases are integral to safeguarding dam integrity and mitigating flooding in adjacent communities.

The 2023 Annual Flood Outlook showed that 178 LGAs in 32 states of the Federation, and the FCT, fall within the Highly Probable Flood Risk Areas.

224 LGAs in 35 States of the Federation, including the FCT fall within the Moderately Probable Flood Risk Areas.

08/26/2023
Troops neutralise 23 terrorists, apprehend 137 suspects, rescue 41 hostages

The Defence Headquarters says the troops of the armed forces have within nine weeks, neutralised 23 terrorists, arrested 109 criminals, and five kidnappers.

It also said that one informant and 22 suspected oil thieves were arrested within the period across the country.

The Director, Defence Media Operations, Maj.-Gen. Edward Buba, in a statement at the weekend, added that the troops also rescued 41 kidnapped hostages.

Buba said that 231 terrorists and their families comprising 25 adult males, 63 adult females and 143 children surrendered to troops in the North East.

He added that the troops recovered 41 weapons and 300 assorted weapons comprising 14 AK47 rifles, one AK49 rifle, two AK47 rifles loaded with 7.62mm special ammo and one PKT gun.

Others according to him, included one LMG, two pump action guns, two locally fabricated pistols, three locally fabricated rifles, two dane guns, one pistol, and two locally made long barrel guns.

“Additionally, troops recovered one AK47 rifle loaded with 30 rounds of 7.62mm special, 1 AK47 magazine, one magazine loaded with 30 rounds of 7.62mm special, 239 rounds of 7.62mm special ammo, five rounds of 7.62 NATO, 44 rounds of PKT, 5 rounds of 9mm ammo and 6 cartridges.

“Furthermore, troops recovered 13 motorcycle, 22 mobile phones, one bicycle, 10 machete, a pair of camouflage.”

He added that the operations in South-South geopolitical zone resulted in the arrest of 682,400 litres of stolen crude oil, 70,950 litres of illegally refined AGO, and 23,250 litres of DPK.

“All amounting to an estimated sum of N414.3 million denied to the oil thieves,” the defence spokesman said.

Buba said the military would continue to relentlessly pursue the violent groups instigating insecurity and instability in the country.

He assured that troops would continue to make improvements towards ensuring safety of citizens and restoring security nationwide.

08/26/2023
Meet Sunday Ekedayen: Delta State’s visionary Commissioner for Economic Planning

Delta State Governor, Rt. Hon. Sheriff Oborevwori (left) in a handshake with Mr. Sunday Ekedayen

Mr. Sunday A. Ekedayen, a Chartered Accountant renowned for his astute administrative skills, currently serves as the Delta State Commissioner for Economic Planning.

Holding an impressive academic background, Ekedayen is an alumnus of the University of Lagos, a versatile manager of both human and material resources, and a figure seamlessly integrated into various sectors.

His journey began in the early 1990s when he entered the finance industry, swiftly ascending the ranks within one of the national Development Finance Institutions (DFIs).

Fondly known as Sonny, his professional prowess and kindhearted nature endeared him to colleagues and management alike. His willingness to support others made him a cornerstone of the organizations he has served.

A significant milestone in Ekedayen’s career came with the transformation of the Bank of Industry, arising from the amalgamation of Nigeria Industrial Development Bank (NIDB), Nigeria Bank for Commerce and Industry (NCI), and National Economic Reconstruction Fund (NERFUND).

In this transformative phase, Sonny played a pivotal role in crafting operational protocols for the reimagined enterprise, now recognized as the Bank of Industry.

Much like a versatile utility player, Sonny showcased his adaptability by maneuvering through various units of the newly formed bank, culminating in his leadership of the Internal Control and Audit (IC&A) Department.

His departure from each role was met with a sense of loss, and his arrival at new posts was always celebrated, a testament to his impact.

Now in his role as the Delta State Commissioner for Economic Planning, the stage is set for Ekedayen to exhibit his trademark proactive approach. His congenial nature and reputation for quick thinking position him as a dependable ally, primed to hit the ground running.

Ekedayen’s ability to seamlessly transition between sectors and functions underscores his capacity as a well-rounded individual.

As he continues to serve in his new role, Delta State can anticipate a future guided by his strategic economic insights and steadfast commitment to progress.

08/26/2023