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Nigeria lost 4.5trn oil barrels to theft in 4 years — Minister
Dr Mohammad Abubakar, Minister of Environment, on Monday, disclosed that Nigeria recorded 4,919 oil spills between 2015 to March 2021 and lost 4.5 trillion barrels of oil to theft in four years.
Abubakar disclosed this at a Town Hall meeting in Abuja, organised by the Ministry of Information and Culture, on protecting oil and gas infrastructure.
“According to the National Oil Spill Detection Agency (NOSDRA) data, the total number of oil spills recorded from 2015 to March 2021 is 4,919, the number of oil spills cost by collation is 308.
“The operational maintenance is 106, while sabotage is 3,628 and yet to be determined 70, giving the total number of oil spills on the environment to 235,206 barrels of oil. This is very colossal to the environment.
“Nigeria also lost approximately 4.75 trillion on oil activities in the four years between 2015 and 2018, as estimated by the Nigeria Natural Resources Charter.
“Several statistics have emphasised Nigeria as the most notorious country in the world for oil spills, loosing roughly 400,000 barrels per day.
“The second country is followed by Mexico that has reported only 5,000 to 10,000 barrel only per day, thus a difference of about 3, 900 per cent.
“Now the environmental effect, which is the major concern of the ministry of environment, is in the loss of revenue.
“Attack on oil facilities has become the innovation that replaced agitations in the Niger Delta region against perceived poor governance and neglect of the area.
“The impacts of vandalism of oil facilities have not only caused pollution of the environment, but had consequences on the local people, the national economy and security,’’ he said.
Abubakar added that the activities that come with oil exploration and exploitation had similarly caused alterations to the environment and some of its effects had either been reduced or prevented.
The minister added that adequate mitigation measures had been taken, including enforcement of relevant laws, regulations and guidelines, such as the Environmental Impact Assessment (EIA) Act.
He said the EIA process ensured that measures were put in place to assist in the reduction of the negative effects and enhancement of the positive effects on the ecology, health and social wellbeing of communities in project areas.
“It is in the light of this fact that over 1,300 oil and gas projects in Nigeria have been subjected to EIA process under the supervision of the ministry’’.
Abubakar further added that the ministry held periodic interactive sessions with oil and gas operators, focused on the continued degradation of the environment, fatalities and loss of revenue, attributable to the regular and incessant vandalism of oil facilities, particularly pipelines.
The minister stressed that the effects of the destruction of oil and gas facilities had caused huge economic losses from pipelines to plant shut downs, as well as loss of biodiversity, habitat and ecological damage.
In addition, the destruction had also caused degradation of soil quality, which drastically reduces soil fertility, thereby, affecting crop yields and food security.
“Also, increase in air pollution and the attendant climate change issues, public health impacts on affected communities, social impacts and loss of livelihood, supremacy among militants, casualties, among others,’’ he said.
Oil pipeline vandalism over the years had been one of the major factors contributing significantly to environmental degradation in the Niger Delta region, which accounts for about 70 to 80 per cent of our oil and gas sector that drives the economy, the minister noted.
He added that the country’s oil and gas production accounts for a great deal of upstream and downstream industrial activities and production frontiers were increasingly moving into deep sea operations.
Similarly, the oil sector accounts for over 90 per cent of Nigeria’s total foreign exchange earnings with the bulk of it coming from the numerous producing fields, located on the land, swamp and offshore environment of the Niger Delta region, Abubakar also noted.
He, therefore, recommended increasing awareness creation on the negative consequences of vandalism of oil facilities and other illegal activities.
Such awareness should also be accompanied by increased sustainable community development programmes for host oil communities, to include skills acquisition, provision of infrastructure and basic amenities, among others, by oil companies and relevant government agencies, Abubakar said.
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Nigeria saves $20bn from subsidy removal – Finance Minister Edun
Nigeria saves $20bn from subsidy removal – Finance Minister Edun
Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has declared that the country has saved $20 billion by eliminating the petrol subsidy and adopting market-based foreign exchange pricing.
He made this disclosure at an event in Abuja marking the first 100 days in office of Esther Walso-Jack, Head of the Civil Service of the Federation.
Edun stated, “When there was a subsidy on the PMS and on foreign exchange, they collectively cost five percent of the GDP.
“Assuming GDP was $400 billion on average, five percent of that is $20 billion—funds that could now go into infrastructure, health, social services, and education.”
He explained that the savings were being redirected into developmental projects. He said, “The real change is that no one can wake up and target cheap funding or forex from the central bank to enrich themselves without adding value. “Similarly, profiteering from the inefficient petrol subsidy regime is no longer possible.”
President Bola Tinubu officially ended the petrol subsidy regime on May 29, 2023.
metro
Crude-for-naira deal: NNPC fails to deliver agreed crude oil – Dangote refinery
Crude-for-naira deal: NNPC fails to deliver agreed crude oil – Dangote refinery
The Lagos-based mega Dangote refinery has accused the Nigerian National Petroleum Corporation (NNPC) of failing to meet its crude oil supply obligations under the naira-for-crude agreement.
Edwin Devakumar, the Vice President of the Dangote Group, disclosed this in a statement reported by Reuters.
Devakumar explained that the national oil company had committed to supplying the refinery with a minimum of 385,000 barrels per day (bpd) under the crude-for-naira deal.
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However, he alleged that the NNPC is falling short of this commitment.
According to Reuters, Devakumar characterized the volume of crude currently supplied by NNPC Limited as “peanut,” though he did not specify the exact amount.
“We need 650,000 barrels per day, and NNPC Ltd agreed to supply a minimum of 385,000 bpd, but they are not even delivering that,” Devakumar stated.
Crude-for-naira deal: NNPC fails to deliver agreed crude oil – Dangote refinery
News
Tinubu restructures media team, says no individual presidential spokesman
Tinubu restructures media team, says no individual presidential spokesman
President Bola Tinubu has reorganised his media team, re-designating the positions of his two recently appointed special advisers for media and communications.
This is contained in a statement released on Monday night by his Special Adviser on Media and Strategies, Bayo Onanuga.
He said Sunday Dare, the special adviser on public communication and national orientation, is now the special adviser on media and public communications.
Onanuga added that Daniel Bwala, announced last week as a special adviser on media and public communication, will now function as the special adviser on policy communication.
“These appointments, along with the existing role of special adviser, information and strategy, underscore that there is no single individual spokesperson for the presidency,” the statement read.
There had been some confusion as Onanuga, designated as special adviser on communication and strategy, had been the presidential spokesman since the exit of Ngelale Ajuri, who was special adviser on media and publicity.
However, on Monday, Bwala announced himself as the presidential spokesperson.
“Today, I resumed officially as the Special Adviser, Media and Public Communications/Spokesperson (State House). I am happy to have joined a meeting of the robust and fantastic communication team of Mr. President. I love the existing unity among the team and hope we can leverage on that even for more synergy,” he wrote on his X handle.
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