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Innoson to construct armoured vehicles for Police

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The Nigeria Police Force has expressed readiness to partner with Innoson Vehicle Manufacturing Co. Ltd. for the production of Armoured Personnel Carriers (APC) to assist in crime fighting.

The Inspector-General of Police, Mr Ibrahim Idris, expressed the readiness on Friday at the inauguration of IVM Granite vehicle, 2019 edition manufactured by the indigenous company in Nnewi, Anambra.

Idris commended Innoson for providing camouflaged vehicles for the Nigerian Army to tackle insecurity.

Idris, who was represented by the Deputy Inspector-General in charge of Logistics and Supply, Mr Agboola Oshodi-Glover, also called on other organisations to support the locally made vehicles.

“Innoson is making history. This type is rare. I congratulate you and want to assure you that police will give you all the necessary supports you need.

“But you need to commence production of Armoured Personnel Carriers to enable the police tackle insurgents and other security challenges in the country,” he added.

Also, Gov. Willie Obiano of Anambra praised the ingenuity of the company amidst apparent challenges in the industry.

“I am happy this is happening in our state. It’s only here that we’re manufacturing vehicles. Others travel to other countries and gather parts to assemble in Nigeria,” he said.

Obiano, however, expressed regret that the epileptic power supply in the state had hampered some production capacity of the company.

The governor urged the Federal Government, as a matter of urgency, to provide adequate power supply and enabling environment for maximum productivity.

He also appealed to state and Federal Governments to commence placing orders on the vehicles produced by IVM.

“With what Innoson is doing, he is contributing immensely to the nation’s GDP and should be encouraged to do more,” Obiano, who was represented by his deputy, Dr Nkem Okeke, added.

Earlier, the Chairman of Innoson Vehicle Manufacturing Company, Chief Innocent Chukwuma, said the company’s major strength depended on its ability to produce according to clients’ specifications.

“The fact that the Nigerian Police vehicle operate in diverse and dangerous terrains as a result of its functions, Innoson vehicles can produce specific operational vehicles that will meet the operational requirements of the Nigerian Police.

“This pick up is built for our roads and it’s in line with the latest generation of international brands of high end pick up,” he said. (NAN)

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Finance

“I And My Team Are Not Responsible For The Woes That We Have Today ” – Current CBN Governor

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Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has said that he’s not responsible for the economic challenges facing the country.

Cardoso said this at the first Monetary Policy Committee (MPC) meeting under his leadership on Tuesday, February 27. He also said that the CBN is taking necessary steps to get the country’s fiscal and monetary health back to normal.

He said;

”I laugh at that question but it’s not a laughing matter and I think it is very important for Nigerians to understand that the Central Bank Governor; I and my team, are not responsible for the woes that we have today; we are part of the solution.

“We are determined to ensure that we work hard to get out of the mess that Nigeria is in. We assumed responsibility in a time of crisis of confidence; there was a crisis of confidence and you may all want to go to bed and wish that crisis of confidence was not there but it was, and we can’t turn back the clock.

“All we can do is do the difficult things to make a bad situation better and I do believe that the efforts that we are making are beginning to bring back confidence because to be frank, without confidence in your business, you are not going to get far.”

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Energy

Climate Change: NNPC Ltd/Total Energies JV Achieves Zero Gas Flare

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In pursuit of meeting the targets of 20% (unconditional) and 47% (conditional) greenhouse gas emission reduction as contained in the Nationally Determined Contribution under the Paris Accord signed by the President Bola Ahmed Tinubu administration, the NNPC Ltd/TotalEnergies Joint Venture has achieved zero routine gas flare in all its assets.

According to a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., this feat was announced on Thursday during an inspection tour of OML 100 in South-eastern Niger Delta, off Port Harcourt, by a joint NNPC Ltd and TotalEnergies Team to ascertain the success of the OML Flare Reduction Project launched in December 2023.  

The NNPC Ltd/TotalEnergies Joint Venture, which is the concession holder of four leases, had hitherto achieved zero routine flaring across OML 99 (2006), OML 102 (2014), and OML 58 (2016), leaving OML 100 as the only lease with routine flaring going on.

The significance of this achievement is that the last routine flare volume of about 12MMscf/d (twelve million standard cubic feet per day) of gas has now been eliminated giving rise to a greenhouse gas emissions reduction of about 341KtCO₂e/yr.

The achievement is an outcome of a programme introduced by the NNPC Ltd to galvanize action towards achieving the zero routine flare by 2030 across its portfolio of assets.

It is also a testament to NNPC Ltd’s prioritization of sustainability anchored on the ‘first R’ of its 5R Strategy (Reduce, Replace, Renew, Re-plant, Repurpose), as it strives to reduce its carbon footprint.

Work is ongoing across all other assets within NNPC Ltd’s Upstream Directorate to ensure that all assets achieve zero routine flaring by 2030 or earlier.

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Energy

NNPC Celebrates 14,000bpd Production from Akpo West Field

By SANDRA ANI

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In line with President Bola Ahmed Tinubu’s directive to the Nigerian National Petroleum Company Limited (NNPC Ltd) to optimise production from the nation’s oil and gas assets, the Company has announced the successful commencement of oil production from the Akpo West Field.

The milestone, which is the result of meticulous planning, strategic collaboration, and unwavering dedication from all stakeholders involved in the project, will add 14,000 barrels per day condensate to the nation’s production. This will be followed up by the production of about 4million cubic meters of gas per day by 2028.

The development of Akpo West which is on Petroleum Mining Lease (PML) 2 (formerly OML 130) leverages the existing Akpo Floating Production Storage and Offloading (FPSO) facility via a subsea tie-back to keep costs low and minimize greenhouse gas emissions.

The milestone was enabled by the strategic leadership of the Group Chief Executive Officer (GCEO), Mr. Mele Kyari, and the Upstream Directorate of the NNPC Ltd whose support played no small role in propelling the operators to actualise the short- and mid-term hydrocarbon production goal of the President Tinubu administration.

Located 135 kilometres offshore, Akpo West is one of the discoveries on PML 2 with proximity to the Akpo main which started up in 2009 and produced 124,000 barrels of oil equivalent per day in 2023.

PML 2 is operated by TotalEnergies with a 24% interest, in partnership with CNOOC (45%), Sapetro (15%), Prime 130 (16%), and the Nigerian National Petroleum Company Ltd as the concessionaire of the Production Sharing Contract (PSC).

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