Energy
You’ll answer questions over $16bn power projects, Buhari to OBJ
President Muhammadu Buhari on Tuesday threw a jibe at former President Olusegun Obasanjo for spending $16bn on power projects during his tenure as the President without corresponding power supply to Nigerians.
Although he did not mention any name, Buhari said a former Nigerian leader was bragging at a time that his administration spent the amount on power sector, yet there was nothing to show for the expenditure.
Buhari spoke at the Presidential Villa, Abuja while receiving members of the Buhari Support Organisation led by the Comptroller-General of the Nigeria Customs Service, Col. Hameed Ali (retd).
The House of Representatives had in 2008 described the $16bn spent on power projects by the Obasanjo administration as a colossal waste.
The Socio-Economic Rights and Accountability Project had also in 2016 called for an investigation into the expenditure.
On Tuesday, Buhari insisted that past administrations failed to invest in infrastructure in the country.
He gave an indication that no roads were repaired in the country after his days at the Petroleum Trust Fund.
The President said, “You know more than I do on the condition of our roads. Some of them were not repaired since the PTF days.
“No matter what opinion you have about (late Gen. Sani) Abacha, I agreed to work with him and the PTF. We constructed road from here (Abuja) to Port Harcourt, to Onitsha, to Benin and so on.
“This was in addition to other things in education, medical care and so on. You know the rail was killed and one of the former Heads of State between that time was bragging that he spent $16bn, not naira, on power. Where is the power? Where is the power? And now we have to pay the debts. “This year and last year’s budgets that I took to the National Assembly were the highest in capital projects: more than $1.3 tn.
“Let anybody come and confront me publicly in the National Assembly. What have they been doing? Some of them have been there for 10 years. What have they been doing?”
Buhari said anybody who claimed to be fighting for the country should not be misappropriating or misapplying the nation’s resources the way some people did.
He reiterated his position that past Nigerian leaders did not save during the oil boom era.
He said, “I have to repeat what I want the public to know here.
“I said and I challenge anybody to check from Europe, Asia and America; between 1999 and 2014, Nigeria was getting 2.1 million barrels per day and was selling at an average cost of $100 per barrel.
“It went up to $143. So, Nigeria was earning 2.1 million times 100 times 16 years seven days a week.
“When we came, it collapsed to between $37 and $38 and it was oscillating between $40 and $54 sometimes.
“I went to the Governor of Central Bank, thank goodness I did not sack him, and he is still there. I went with my cap in my hand and say oya (give me money). He said there were no savings, only debt.”
Buhari’s allegation based on ignorance –Obasanjo
But responding, Obasanjo said the President’s allegation that $16bn was wasted on power project, was rooted in ignorance.
In a statement issued on his behalf by Kehinde Akinyemi, his spokesman, Obasanjo said, “The answer is simple: the power is in the seven National Integrated Power Projects and eighteen gas turbines…”
The ex-President referred Buhari to his autobiography, My Watch, saying he had cleared allegations about the power project in the book.
The statement read, “It has come to the attention of Chief Olusegun Obasanjo that a statement credited to President Muhammadu Buhari, apparently without correct information and based on ignorance, suggested that $16bn was wasted on power projects by “a former President.” We believe that the President was re-echoing the unsubstantiated allegation against Chief Obasanjo by his own predecessor but one.
“While it is doubtful that a President with proper understanding of the issue would utter such, it should be pointed out that records from the National Assembly have exculpated President Obasanjo of any wrongdoing concerning the power sector and have proved the allegations as false.
“For the records, Chief Obasanjo has addressed the issues of the power sector and the allegations against him on many occasions and platforms, including in his widely publicised book, My Watch, in which he exhaustively stated the facts and reproduced various reports by both the Economic and Financial Crimes Commission, which conducted a clinical investigation into the allegations against Chief Obasanjo, and the Ad Hoc Committee on the Review of the Recommendations in the Report of the Committee on Power on the investigation into how the huge sum of money was spent on Power Generation, Transmission And Distribution between June 1999 and May 2007 without commensurate result.
“We recommend that the President and his co-travellers should read Chapters 41, 42, 43 and 47 of My Watch for Chief Obasanjo’s insights and perspectives on the power sector and indeed what transpired when the allegation of $16bn on power projects was previously made. If he cannot read the three-volume book, he should detail his aides to do so and summarise the chapters in a language that he will easily understand.
“In the same statement credited to the President, it was alleged that there was some bragging by Chief Obasanjo over $16bn spent on power. To inform the uninformed, the so-called $16bn power expenditure was an allegation against Chief Obasanjo’s administration and not his claim. The President also queried where the power generated is. The answer is simple: The power is in the seven National Integrated Power Projects and eighteen gas turbines that Chief Obasanjo’s successor who originally made the allegation of $16bn did not clear from the ports for over a year and the civil works done on the sites.
“Chief Obasanjo challenges, and in fact encourages, anybody to set up another enquiry if in doubt and unsatisfied with the EFCC report and that of the Hon. Aminu Tambuwal-led ad hoc committee.”
OBJ’s govt didn’t spend $16bn on power projects – CNM
In his response, however, the spokesman for the Obasanjo-led Coalition for Nigeria Movement, Mr. Akin Osuntokun, described the allegation as a rumour.
Osuntokun alleged the rumour was concocted by those in the late President Umaru Yar’Adua’s government and then spread by a former lawmaker.
He said several investigations and reports had shown that only $6bn was spent on the power sector during Obasanjo’s eight-year tenure.
He said Buhari was playing cheap politics with statistics.
The CNM spokesman said the late Senior Special Assistant to Obasanjo on Power Sector Reform and Coordinator, Seke Somolu, had provided all evidence as regards the matter.
He said that as far as Somolu was concerned, only $6.3bn was spent on the power projects during Obasanjo’s regime.
Osuntokun stated, “Seke sought to educate us saying $16bn was voted but warrant was issued for no more than $6.3bn spent largely on orders for turbines which could only be manufactured to specifications since they could not be picked from departmental stores’ shelves. Part of the disbursements also went into drawings, building of bridges on which the turbines would be ferried and compensation for communities from whom pieces of land was acquired. And much more.
“This once again demonstrates what I have cited as the pathological incompetence of this President. Is it not beneath the dignity of the exalted office he holds to join the chorus of beer parlour gossips? How can a president who has all the information at his beck and call degenerate to this level?
“Is it on account of a famed short attention span which precludes him from grappling with any serious reading beyond his self-confessed affinity for newspaper cartoons? Is it with this kind of levity that he attends to federal executive council memos?
“We are now beginning to see the reason why Nigeria is fast disappearing into the abyss of primitive Stone Age leadership. It is not too late for him to heed the well-considered advice of his doctor to go home, eat more and sleep more.”
…OML 13 Asset Eyes 80,000 bpd by End of 2025
In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the NNPC Ltd has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market.
It would be recalled that in July, 2024, NNPC Ltd and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd introduced the Utapate crude oil blend, following the lifting of first cargo of 950,000 barrels which headed for Spain.
During a ceremony held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market.
“Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told a packed audience of European crude oil marketers.
He added that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities.
Foucart said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf of gas.
“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.
He said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects.
Also speaking, the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities.
He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted to optimise value for both its producers and counterparties across the globe.
He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries.
Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.
The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.
The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.
The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.
The entry of the Utapate crude oil blend into the market is coming barely a year after the NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).
This remarkable achievement signals the commitment of the NNPC Ltd to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets.
Energy
NNPC Ltd Set to Supply 100mmscf/d Gas to Dangote Refinery
…10-year Deal to Boost Local Production, Revamp Industrial Growth, reports Ikenna Oluka
The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, has successfully executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE.
The agreement, signed by the Managing Director, NGML, Barr. Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote on Tuesday at the Corporate Head Office of Dangote in Falomo, Lagos State, outlines the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.
This major milestone is in line with President Bola Ahmed Tinubu’s policy of utilizing Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.
This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company (LDC) in the country.
Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day (MMSCF/D), 50MMSCF/D being firm supply and the rest 50MMSCF/D interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.
This collaboration is a significant step toward ensuring the operational success of the Dangote Refinery and enhancing Nigeria’s domestic gas utilization.
NNPC Ltd, through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.
The agreement represents a milestone for both NNPC Ltd and Dangote Refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.
It is also a further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country.
Energy
AVEVA Unveils Key Learnings from its 2023 Sustainability Progress Report and first AVEVA Industrial Intelligence Index
AVEVA, a global leader in industrial software, launches AVEVA’s 2023 Sustainability Progress Report and the first edition of the AVEVA Industrial Intelligence Index at London Tech Week 2024 where the company advocates for an ethical and impact-driven AI aimed at increasing creativity and efficiency for a more sustainable world.
AVEVA 2023 Sustainability Progress Report: key learnings
In 2023, AVEVA continued to make progress on its core ESG framework objectives, including enabling the sustainable transformation of industry through its software, modelling environmental stewardship and ethical best practice, and fostering an inclusive workplace culture where every employee feels engaged and empowered to learn and grow.
This fourth edition of the report is AVEVA’s first publication of ESG data and workstream advancements aligned to a calendar year reporting period. It details progress made in 2023 to AVEVA’s three key pillars: Technology handprint, Operational footprint, and Inclusive culture.
Technology handprint
“Beyond our efforts to reduce our own carbon footprint, we recognize that our biggest opportunity to make a positive impact and accelerate our journey towards NetZero is through our core products, digital solutions that can help industries improve efficiency, circularity, traceability and resilience” declared Lisa Wee, Global Head of Sustainability, AVEVA.
With this regard, the company has developed a green new logo program that has supported in the first six months the deployment of clean tech activities for 25 customers. In addition, with 13 new case studies quantifying the reduction of emissions AVEVA software enables for customers, the company demonstrates how it walks the talk through tangible achievements contributing to sustainability. Last but not least, hackathons run in 2023 generated 80 sustainability-led technology ideas for future innovations.
2023 also saw the launch of AVEVA’s Sustainability Accelerator program the purpose of which is to advance sustainability use cases and capabilities across the company’s portfolio and partner ecosystem, including via AVEVA’s industrial intelligence platform, CONNECT.
“AVEVA’s Sustainability Accelerator program aims to enable faster uptake of existing sustainability solutions across the industrial landscape, while we continue to invest in product capabilities and partnerships that will push out the frontiers of sustainability innovation for industry” said Joana Mainguy, Director of Sustainability in charge of the program.
Finally, AVEVA has pioneered a new standard for green software: since the end of 2023, 31% of its portfolio has built-in power consumption measurement technology.
Operational footprint
In 2023, AVEVA met 4 out of the 15 2025 ESG targets including 93% reduction in scope 1 and scope 2 emissions through a combination of measures: the company procured 100% of renewable electricity in all global markets as per RE100 criteria, reduced its overall fleet of 21% over the year, and counted hybrid or electric vehicles for 25% of the remaining fleet. Notable achievements related to upstream emissions include a 36% decrease in purchased goods and services and a 49% decrease in business travel emissions. The latter goes beyond our 2025 ESG goal of a 20% reduction.
Regarding the scope 3, AVEVA has integrated e-waste data in the inventory under the waste category to report another significant achievement: “Our initial target of diverting 5 tons of e-waste from landfill in 2025 was surpassed by 22.75 tons in 2023. 100% of e-waste sent to our disposal partner is now diverted from landfill,” explained Lisa Wee.
Inclusive culture
AVEVA’s commitment to developing a workplace environment where all employees feel included and are treated with dignity and respect is also highlighted in the report.
“Globally, with 39.9% of new hires, 29% of managers and 26,5% of leaders being women, AVEVA has significantly increased gender representation in 2023 and will continue in this direction to raise these numbers to 50% of new hires, 40% of managers and 30% of leaders by 2030. Besides, we have reached our goal of less than 1% pay equity, and it currently stands at 0.5%”,commented Lisa Wee with enthusiasm. In addition, AVEVA demonstrated its commitment to society donating £ 310,000 to causes supported by AVEVA employees’ communities around the world.
AVEVA also achieved key milestones in regions: In the US, the company has developed a partnership with two Historically Black Colleges and Universities (HBCUs) for an ‘AVEVA Scholars Program. Spanning three years, the program includes scholarships and immersive onsite experiences, ultimately paving the way for talented Black scholars in Engineering and Computer Science to join the AVEVA team upon graduation. The pilot will kick-off mid-June 2024 and count 12 students.
AVEVA INDUSTRIAL INTELLIGENCE INDEX REPORT: A 2-in-1 publication to report on industrial needs and to give guidance on existing solutions through inspiring examples of successful and sustainable digital transformation:
At London Tech Week 2024, AVEVA launched its first annual AVEVA Industrial Intelligence Index:
“AVEVA has been supporting the industrial world for more than half a century. Listening to our customers’ needs and understanding their challenges is how we innovate and develop tailored solutions that will help them cope with current and future challenges. With more than 25 000 customers across all industries, we have built a unique expertise. Today I’m delighted to introduce our first AVEVA Industrial Intelligence Index Report. Our ambition is to issue this report every year to help C-suite executives, business unit leaders, and strategic decision-makers leverage industrial intelligence and succeed in the digital age, with inspiring insights about how industries transform towards a more sustainable future” declared Caspar Herzberg, AVEVA CEO.
Drawing on research conducted with 500 global industry executives across Europe, North America and Asia Pacific, this first edition gives valuable and actionable insights into the power, manufacturing, infrastructure, and chemicals industries. Including comments from AVEVA’s experts and leaders, the report unveils macro trends and describes the forces that drive change and innovation. It also presents case studies showcasing successful digitalization initiatives, and strategies for driving innovation and efficiency to chart a course towards a more sustainable and profitable future.
Samsung Expands Accessibility with Local Language Integration on Galaxy S25, A56, A36, and A26 Devices
Breaking: ‘Welcome home,’ Gov Mbah Receives Edeoga Back to PDP
NUJ at 70: Private Broadcast Members Congratulate Union
LASG Acquires New Outboard Engines For Optimum Boat Performance
Elon Musk builds Hotel in Mars, Sets to launch soon at $5million per night – Photos
