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Nigeria Will Meet OPEC Quota by May 2023 – Sylvia

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Nigeria Will Meet OPEC Quota by May 2023 – Sylvia

…Fails to indicate why Quota can only be met in May***

The Minister of State Petroleum Resources, Chief Timipre Sylvia has assured that Nigeria would meet the Organisation of Petroleum Exporting Countries (OPEC) crude oil production quota of 1.8 million BPD by May 2023. He however did not explain why Nigeria would only meet the quota, in the very last month of this administration.

Sylvia, in a statement on Monday by his Senior Adviser, Media and Communications, Horatius Egua, highlighted this, after OPEC agreed to maintain its production cut among member countries to maintain market stability.

He said the Federal Government would continue to improve security along the tracks of the major crude oil pipelines and block every leakage through which crude oil are stolen by oil thieves and pipeline vandals.

Sylvia said that the inability of Nigeria to meet the current OPEC quota was not due to lack of production capacity on the part of crude oil producers.

He said it was because a lot of producers decided not to inject into the pipelines because they were losing a lot of their production when they inject into the pipelines.

“Once we are able to build enough confidence in the security of the pipelines, they (producers) will then be able to inject into the pipelines once again and once that happens, we will be able to meet up with our OPEC quotas.

“That is where we are going and the early signals are there that we are making very good progress.

“Our pipelines have issues and we put security structure in place involving the communities, the security, oil companies and government and we are beginning to see some early signs of improvement.

“Our production for example has improved from where we were in the past.

“We are producing over a million barrels now and we believe that when we have built confidence enough on the pipelines and all the producers begin to inject into the pipelines that have been secured, we will be able to meet our OPEC quota,” he said.

He said that with the current rehabilitation of the Port Harcourt, Warri refineries as well as the planned fixing of the Kaduna refinery and the coming onstream of the Dangote Refinery, Nigeria was sure of guaranteed crude production to ease the incessant fuel crisis.

According to him, between Port Harcourt, Warri and Kaduna there are over 410,000 barrels and if we have all that refined in-country that will be at least half of our consumption and with Dangote refinery which is expected to come on stream by the first quarter of next year.

He expressed hope that even before the third quarter of 2023 Nigeria should be able to exit the importation of refined products.

Speaking on the discovery of crude oil in Kolmani, a border town between Bauchi and Gombe states, the minister said Nigeria should brace up for more oil adding that only the Niger Delta region had been explored for oil despite potentials in other regions.

“Nigeria is a very prolific territory, so far only the Niger Delta has been proven as an oil-bearing territory but we have a lot of other basins within Nigeria; we have the Benue trough, the Gongola Basin, the Sokoto Basin and the Dahomey Basin.

“We have a lot of Basins that have not been proven. We are targeting to get to see how we can explore oil especially now that the world is transiting.

“We want to see how we can quickly take advantage of what we have on the ground because coal didn’t finish on the ground before the world moved on to oil but we don’t think that the world is going to wait for us,” he said.

Sylva said Nigeria would not be dealing with crude oil as only an income earner but as an economic enabler to avoid the crisis that hallmarked oil discovery in the Niger Delta region. 

Economy

LASG Issues Travel Advisory Ahead Of Students Rave Event

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LASG Issues Travel Advisory Ahead Of Students Rave Event

… Says traffic will be restricted between Police Zonal Headquarters, Zone 2 and Onikan Roundabout from 7:00 am*** 

The Lagos State Government has advised Motorists to plan their movement around Mobolaji Johnson Arena, Old Onikan Stadium, Lagos Island ahead of the Students Rave 2023 event scheduled for Friday, 27th January 2023.

As a result of the above rally, the Commissioner for Transportation, Dr. Frederic Oladeinde disclosed that traffic will be restricted between Police Zonal Headquarters, Zone 2 and Onikan Roundabout from 7:00 am on the aforementioned day. He assured that Officers of the Lagos State Traffic Management Authority, (LASTMA) will be available to manage traffic flow.

Explaining the alternative routes, Oladeinde advises Motorists plying Island Club road by Police Headquarters Zone 2, Onikan to go through Ozumba Mbadiwe road inbound Falomo Bridge (Five Cowries Bridge) to link Alfred Rewane and Osborne road to complete their journeys.

In the same vein, Motorists from Bonny Camp according to the diversion plan can access CMS/Marina Bridge after Independence Bridge (Mekunwen Bridge) and loop it down towards Cathedral Church to connect Lagos Island proper through Odunlami Street for their desired destinations,

The Transport Commissioner also advises Motorists to utilize Force road beside Muson Centre to link J.K Randle Avenue (Race Course) or go through Onikan Roundabout to connect JK Randle Avenue/Water Board area to access CMS Bridge by the State House/Old NITEL Building.

He further explained that Water Board inbound Broad Street to Tinubu Square will be available to Motorists, adding that they can equally access Old Defense road/ Ganiyu Smith from Water Board to link Igbosere/Sandgrouse to Simpson Street and connect Third Mainland Bridge to continue their journeys to other parts of the State.

The Transport Commissioner reiterated that Security and Law Enforcement Agencies will be at all strategic junctions and intersections to ensure the safety and security of all road users and the free flow of traffic within the perimeter of the venue and alternative routes outside the venue.

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Economy

Aregbesola: Immigration Produced More than 1.7m Passports in 2022

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Aregbesola: Immigration Produced More than 1.7m Passports in 2022

…Agrees there are human-induced challenges***

Minister of Interior, Ogbeni Rauf Aregbesola, said in Abuja on Thursday that the Nigeria Immigration Service (NIS) produced more than 1.7 million passports in 2022.

Fielding questions at the 64th edition of the State House briefing organised by the Presidential Communications Team, Aregbesola said the figure was a landmark achievement.

He rated the Ministry of Interior and its agencies as having scored above 80 percent in terms of performance.

“By Dec. 31, 2022, we produced more than 1.7 million passports.

“In the annals of Nigeria that has not happened before; as I am talking to you, we have more than 200,000 booklets in our store.

“We are not denying the fact that there are human-induced challenges if you look at the number of applications, vis-a-vis the number of passports produced.

“We are above 80 percent in performance; in any way, take it as given that we produced more than 1.7 passports in 2022,’’ Aregbesola said.

The minister said that a presidential directive had been issued with regard to the domestication of passport production.

He said the Ministry of Interior, in collaboration with the NIS, had impanelled a “project steering committee’ with a mandate to actualise the goal.

Aregbesola also said there was a major reformation and digitisation of passport issuance and administration as a temporary electronic passport had been introduced.

“We are digitising the process; my plan was to fully digitise the Ikoyi Registry in Lagos by Dec. 2022 but I could not fully achieve that.

“What does that mean? When this process is concluded, an applicant does not need to bring anything anymore; you complete your process online and by that time, you don’t need an agent.

“There can’t be racketeering. I am on it and I want to guarantee that we will do it before we leave.

“We have also concluded arrangements on the temporary passport issue; we have the passport, but we have some issues with our sister ministry – the Ministry of Foreign Affairs and we are solving it,’’ he said.

According to the minister, the temporary passport will facilitate a return to Nigeria for Nigerians living abroad if they need to get back in emergencies and did not have current passports.

Such Nigerians would return home, carrying their expired passports also, the minister said.

“Much as that won’t be a problem for us to take at our reception desk, some airlines could be difficult.

“I can even tell you that we are discussing with South Africa now; South Africa does not allow the use of expired passports as a nation contrary to International Civil Aviation Orgnanisation (ICAO) regulation.

“ICAO says that every citizen of a nation dead or alive cannot be denied entry to his home; which is logical anyway.

“The last time I treated a file from South Africa through the Ministry of Foreign Affairs, they were insisting that if one’s passport is not current, one cannot be taken in or out of South Africa’s space.

“It is their policy; you cannot deny a nation its national policies and programmes.

“To avoid that, we introduced what is called temporary electronic passport; it is a one-way passport to return home,’’ Aregbesola explained.

He said that under the temporary passport regime, citizens who had the data pages of their expired passports could take them to Nigeria’s embassies to get the temporary electronic passport after paying the appropriate fees.

“The temporary electronic passports are almost exactly the same as their expired passports.

“It does not have more than one page to take you home; when you hold the electronic passport, you cannot go anywhere but home.

“We are still in negotiation with the Ministry of Foreign Affairs,’’ Aregbesola said.

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Economy

Court Again adjourns, for report of settlement in suit against Dana Air MD

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Court Again adjourns, for report of settlement in suit against Dana Air MD

…Ranesh still shuns Court*** 

 A Federal High Court, Abuja has fixed May 31 for report of settlement in a suit filed by the office of Attorney-General of Federation (AGF) against Managing Director (MD), Dana Air, Hathiramani Ranesh.

Justice Obiora Egwuatu fixed the date on Wednesday following an oral application for adjournment by counsel to the AGF, M. Okeya.

Though the prosecution counsel was in court when the matter was called, neither Mr Ranesh nor his lawyer was in court.

The suit, marked FHC/ABJ/CR/101/21 which was number 10 on the day’s cause list, was for the arraignment of Ranesh and two others.

Upon resuming the hearing in the case, Okeya told Justice Egwuatu that the parties in the suit were exploring settlement options.

The lawyer, who informed that a sister case was also before a Lagos court, said the matter would be coming up later in the year.

She, however, sought a longer date for a report on the outcome of settlement and the judge consequently adjourned the case until May 31 for a report.

Egwuatu had, on Oct. 13, 2022, adjourned the matter until Jan. 25 for arraignment of the defendants following the absence of Mr Ranesh and the prosecution lawyer in court.

However, Ranesh’s counsel, Ade Adedeji, SAN, was in court and he hinted that the prosecution and the defence were exploring reconciliation.

It is incisive that since the commencement of the matter, Dana Air MD had not been present in court.

On June 30, 2021, when the matter came up, while other defendants were in court, Ranesh was absent.

Adedeji had told the court that the absence of his client in court was to the knowledge of the prosecution.

When the matter was called, Adedeji, said he was in court to represent Ranesh after they were served with the notice of arraignment.

The lawyer had told the court that his client was not in the country.

“The charge before this honourable court is a serious matter.

“We came in from Lagos just to come and explain to your lordship the circumstances that informed our acceptance of service without knowing that the date is coming so soon.

“We didn’t know before we accepted it. We have an option not to accept this but as officers in the temple of justice, we felt we are under obligation to accept on his (Ranesh’s) behalf.

“But to the knowledge of counsel to the prosecution, the principal defendant is not in the country which was made known to the prosecution.

“It is on the basis of these circumstances that we shall be appealing to your lordship for an adjournment my lord to enable the defendant appear before this honourable court,” he had said.

Counsel to the AGF, Wilson Michelangelo, did not oppose the request for an adjournment, and the judge fixed Oct. 13, 2021, for arraignment of the suspects.

On Oct. 13, 2021, when the matter came up, Justice Egwuatu was said to be on an official engagement in Lagos State and the matter could not proceed.

Although the counsel who appeared for the AGF, Moshood A., and lawyer to the defendant, Adedeji, SAN, were in court, Mr Ranesh was not.

Consequently, the court then fixed Feb. 15, 2022, for the arraignment of Mr Ranesh and two other defendants in the matter and on the adjourned date, the case was also fixed for May 26, 2022, for arraignment.

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