NNPCL launches production monitoring centre

The Nigerian National Petroleum Company Limited (NNPCL) has unveiled the Production Monitoring Command Centre, an initiative designed to revolutionise hydrocarbon operations and drive increased production.

The initiative, led by NNPC Upstream Investment Management Services, aims to improve monitoring, operational efficiency, and production, building on the success of the Command and Control Centre.

Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., stated that the PMCC aligns with President Bola Tinubu’s policy to increase efficiency and boost production in the industry.

A text and video statement were also published on the company’s website on Wednesday.

“The PMCC serves as a unified platform for monitoring hydrocarbon molecules from production to export terminals, covering Joint Ventures (JVs) and Production Sharing Contracts (PSCs).

“By consolidating real-time data from various operators, the PMCC provides a comprehensive overview of production activities. This ensures timely identification of anomalies, minimises unplanned disruptions, and supports seamless operational continuity.

“With advanced analytics and integrated data, the PMCC empowers stakeholders with actionable insights for proactive decision-making.

“This capability enhances planning, resource allocation, and risk management, enabling operators to meet production targets efficiently and maintain high operational standards.

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“A standout feature of the PMCC is its support for predictive and preventive maintenance. By monitoring equipment performance and coordinating maintenance activities, the system ensures the reliability and longevity of assets,” Soneye explained.

He went on to say that the PMCC encourages stakeholder engagement by offering a safe platform for data sharing and communication, enabling effective problem-solving and continual development throughout the sector.

Soneye stated that the PMCC’s involvement in reducing downtime and optimising maintenance directly correlates with higher production and income.

“Under Mele Kyari’s leadership, NNPC Ltd. has achieved a production increase to 1.8 million barrels per day (bpd) and is working towards a target of two million bpd.

“The PMCC is integral to achieving this goal by driving efficiency and enhancing production capabilities.

“The PMCC operates 24/7, staffed by trained professionals, and utilises cloud-based solutions to ensure seamless data exchange with internal and external stakeholders.

“With direct communication links to the Industry-Wide Security Command and Control Centre, the PMCC also enhances the security of production operations,” he added.

As NNPC Ltd. continues its modernisation journey, the PMCC shows its dedication to innovation and excellence in the oil and gas sector.

This program not only matches with national aims but also strengthens Nigeria’s position in the global energy market, assuring long-term growth and profitability for stakeholders.

NNPCL launches production monitoring centre

Naira slides to N1,650/$ in parallel market

The Naira yesterday depreciated to N1,650 per dollar in the parallel market from N1,648 per dollar on Monday.

Some crypto applicants may be disqualified – Nigeria’s SEC

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emotimi Agama, has hinted that some crypto companies, that have applied to be registered by the Commission may not meet the requirements to get its approval.

Agama stated this at a meeting with applicants under its Regulatory Incubation (RI) and Accelerated Regulatory Incubation Programme (ARIP) its two regulatory windows for crypto players in Nigeria.

Nairametrics recalls that two crypto exchanges, Quidax and Busha were recently granted an approval-in-principle by the SEC to operate as legally recognised exchanges in Nigeria under its ARIP program.

At the time, the Commission also noted that there were several other applications under consideration.

While admitting that it would be difficult to assure that all the applicants would be registered, Agama at the meeting said:

“Certainly, not all of them will meet the requirements. The commission will keep providing clarity to some knotty areas to assist in the process.” 

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SEC committed to transparency 

Agama at the meeting assured stakeholders in the crypto space of the SEC’s commitment to ensure transparency and integrity in crypto regulation, adding that the commission had provided a level playing field to all applicants.

• Agama noted that SEC understood the anxiety and the need to be regulated, but being careful, even in its desire to be inclusive.
• He said that the process of registration was very technical because registration was the hallmark of regulation.

“Registration goes beyond onboarding and registering, it requires monitoring, education, and surveillance, and all of these are continuous,” he said.

Agama stressed the importance of stakeholders’ input, adding that rules would be amended to include all valid points to make it an all-inclusive document.

Nigeria’s role in the crypto space 

Emphasizing that the country is ready to lead crypto regulation, the SEC DG said:

“We are trying to ensure that at the end of the day, as a country we will stand out in the regulation of this space. 

“Beyond any doubt, this space is the future and for us as Nigerians, we have embraced it.” 

The SEC DG noted that the commission was not slow in its processes, but must be sure everything was in order to enable fairness in any pronouncements made.

“In the coming year, we will move faster in delivery and announcements, having learnt from this process. A new law has been passed and it is in the process of obtaining Presidential assent,” he said.

According to him, the law is replete with all of the ingredients legally required to properly regulate this space and give guidance to operators.

“All of these are efforts by the SEC to be as friendly as possible, protect the interest of the ecosystem and the interest of investors,” he said.

Some crypto applicants may be disqualified – Nigeria’s SEC