Yemisi Izuora Global and local oil and gas industry analysts and stakeholders have expressed confidence on the crop of professionals appointed to the board of the Nigerian National Petroleum Company Limited (NNPCL), highlighting also key areas of focus to improve industry efficiency. They held that with their wealth of experience of the industry efforts should be made especially to improve oil production through matured fields as well rejuvenate idle assets to unlock Nigeria’s economic potential and drive sustainable growth. According to them, optimising these assets will create value for all Nigerians and foster development across key economic sectors. The…
Author: Orientalnews Staff
Ken Okeke Nigeria is dangling Section 94 of the Petroleum Industry Act (PIA) which offers a three-year period to operators to commence oil production or face the risk of having their assets relinquished to the federal government. The Minister of State for Petroleum Resources Heineken Lokpobiri, has out it to those delaying field optimization that the Federal Government is now ready to commence enforcing the drill-or-drop provisions of the PIA. Under Section 94 of the PIA, oil operators are given a three-year period to commence oil production or face the risk of having their assets relinquished to the federal government.…
Uche Cecil Izuora The Society of Energy Editors, SEE, has commended the appointment of Engr. Bayo Ojulari as the new Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL. The Group also pledged to support the NNPC CEO as required in the achievement of his plans and programmes. In a congratulatory message to the NNPCL, signed by its Chairman, Mr. Yakubu Lawal, the Society said it received news of the appointment with renewed hope for the future of the Nigerian oil and gas industry as his expertise and leadership weigh well for a national institution continuing its transition…
Uche Cecil Izuora A sustainable investment in renewable energy with emphasis on smart grids, solar-powered street lighting, and energy-efficient transportation networks would significantly improve connectivity and reduce energy costs, according to Energy Commission of Nigeria (ECN). The Commission has taken further steps to provide more knowledge in the benefits of renewable energy investments, pointing to the country’s potential to harness decentralised solar energy solutions to power rural communities and reduce dependence on the national grid. The Agency’s Director-General (DG) Engr. Mustapha Abdullahi, in a report titled Building a Sustainable Future: A Strategic Pathway to Innovation and Development through Sustainable…
Yemisi Izuora President Bola Ahmed Tinubu has reconstituted the NNPCL Board removing all other board members appointed with Akinyelure and Kyari in November 2023. The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman. Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November, has been appointed to the new Board. Six Board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas(…
Artificial Intelligence (AI) is redefining the financial technology landscape, driving multi-dimensional transformation through efficiency, innovation, and enhanced fraud management. As AI-powered solutions revolutionise operations, decision-making, and customer engagement, Nigeria’s fintech industry must move beyond just observing to structured adoption. Embracing AI strategically will not only enhance operational effectiveness, but also expand access to financial services, ensuring a more inclusive and resilient digital economy. Nigeria’s AI market is projected to reach USD $434.4 million by 2026, growing at a staggering 44.2% compound annual growth rate (CAGR), organisations must therefore position themselves to harness its transformative potential. For Nigerian fintechs with a…
Tunde Bakare The House of Representatives have strongly condemned the brutal mob action leading to the death of 16 travellers from the Northern part of the country in Uromi, Esan North East Local Government Area of Edo State. The Lawmakers described the horrific act as a grave violation of human rights and the rule of law. “We acknowledge the directives of H.E. Bola Ahmed Tinubu, GCFR, President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, and H.E. Governor Monday Okpebholo of Edo State, instructing security agencies to conduct an urgent investigation. The House urges law enforcement to ensure…
Joseph Bakare The Speaker of the House of Representatives Rt. Hon. Abbas Tajudeen, has felicitated the President/Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, His Excellency, Senator Bola Ahmed Tinubu, GCFR, as he marks his 73rd birthday on Saturday, March 29. The Speaker, who noted that President Tinubu deserves being celebrated on the occasion of his birthday, paid glowing tributes to the Nigerian leader. Nigeria, the Speaker said, is lucky to have a democrat and patriot in the person of President Tinubu as its leader at this critical point in the country’s democratic journey. He described President Tinubu…
Roland Iwuchukwu In a remarkable act of compassion, eight inmates at the Ikoyi Correctional Center, Lagos, regained their freedom after author, banker, and pastor, Bayo Adeyinka paid their fines as part of a prison outreach to commemorate his 50th birthday. At a brief event held at the correctional center’s, catholic chapel on Saturday, 29 March 2024, Adeyinka, popularly known as “Greater Bayo” online, told a crowd of inmates, Nigerian Correctional Services (NCS) officials, friends and family, that the outreach was borne out of the need to facilitate freedom of inmates in line with biblical injunctions. “According to the bible,…
Vincent Ezenagu The Chief of the Air Staff (CAS), Air Marshal Hasan Bala Abubakar, has reaffirmed the Nigerian Air Force’s (NAF) commitment to the welfare and operational effectiveness of its personnel. He gave this assurance on 31 March 2025 while hosting the 2025 Sallah Luncheon with troops of the Air Component, Operation FANSAN YAMMA, in Katsina State. During the event, the CAS commended the troops for their resilience, dedication, and professionalism in safeguarding the nation, assuring them that their sacrifices would not go unrecognised. Air Marshal Abubakar, represented by the Air Officer, Commanding Special Operations Command, Air Vice Marshal…