Admin l Wednesday, July 04, 2018
ABUJA, Nigeria – The cash call exit programme of the Nigerian National Petroleum Corporation (NNPC) has drawn applause from Nigerian Oil and Gas Industry players with the Country Chair of Shell Companies in Nigeria, Mr. Osagie Okunbor, commending it as a pragmatic move that has helped to restore investors’ confidence in the country. The Shell boss gave the commendation today at the ongoing 2018 Nigeria Oil & Gas Conference and Exhibition holding in Abuja.
Speaking at an Industry leaders panel session on the theme: “Unlocking Nigeria’s Investment Potentials”, Mr. Okunbor cited the successful exit of cash call and the clearance of the outstanding arrears by the NNPC as the strong points of the initiative.
Also speaking at the panel session, the Group Managing Director of NNPC, Dr. Maikanti Baru, said investment in the gas sector of the petroleum industry held the key to accelerated development of the nation’s economy.
The NNPC helmsman urged Industry stakeholders and investors to focus more on gas as it was a cleaner and more versatile energy capable of being deployed as raw material for the production of a range of products that impact on the lives of the people more than crude oil.
The governor said the state government was delighted to host Macron, a well respected global leader, adding that it would also signal a new era between both countries, especially for Lagos, where talents in the arts and creative industry abound.
“On behalf of the government and good people of Lagos state, I welcome His Excellency, President Emmanuel Macron, President of France, to the commercial and cultural capital of Nigeria and indeed West Africa. We are delighted and honoured to be hosting a President of one of the world’s Super Powers; a permanent member of the United Nation’s Security Council with veto rights, a prominent member of the G8 and the World Trade Organisation and a champion of Global Climate Change,” he said.
The governor said he was particularly delighted that Macron’s visit to Lagos began on a cultural and entertainment note, adding that the French Cultural Centre and Alliance Française based in the state, had always been an asset to its cultural landscape in the same way that Trace Television had also become an invaluable addition to its music and entertainment sphere.
Governor Ambode said he was very optimistic Macron’s visit and activities would boost the state’s quest to become the culture and entertainment capital of Africa, just as he said that the state government would seek to establish collaborations with France and play an integral part of the Year 2020 African Cultural Season in Paris, as envisioned by President Macron.
“With the exceptional characteristics of our state as the most populous, vibrant and indeed the fifth richest economy on the African continent, Lagos is the undeniable destination for business and pleasure in Africa. The new Lagos experience is being enhanced daily as we continue to create an enduring infrastructural and security architecture for the business of tourism and cultural arts to thrive. This also creates a platform for our local talents to feel a sense of belonging and encouragement.
“Mr. President, this momentous state visit shall signal the dawn of a new era between France and Nigeria, especially for the myriad of talents that have made Lagos their home,” the governor said.
He said Macron’s emergence as the President of France has inspired many youths in Nigeria, who constitute 60 percent of the country’s population, adding that Lagos was providing avenues for youths to explore their creativity and talents.
There were also Art exhibitions, fashion shows, display of Nollywood scenes, presentation of a painting of Fela to Macron by governor Ambode, as well as pencil frame artwork of Macron done by 11 year-old old Kareem Olamilekan, drawn within two hours. Highpoints of the night include sterling performances by dance groups, Footprints of David, music artistes, Yemi Alade, Charlotte Dipanda from Kenya and a scintillating performance by Femi Kuti, to bring the event to a close.
Dr. Baru who was represented by the NNPC Chief Operating Officer (COO), Upstream, Mallam Rabiu Bello, informed that most of the agro-based chemicals such as fertilizers used in the country were imported, arguing that investment in gas could change that scenario and domesticate the production of fertilizers and other agro based chemicals derived from gas.
He said the multiplier effect of investment in gas such as the ongoing Ajaokuta-Kaduna-Kano (AKK) gas pipeline was responsible for the corporation’s commitment to the project, adding that more of such projects would be replicated around the country.
Speaking earlier at another session with theme: “Harnessing Opportunities in Nigeria’s Downstream sector”, NNPC Chief Operating Officer (COO), Refineries, Mr. Anibo Kragha, disclosed that the Federal Government was exploring the possibility of deploying modular refineries as a tool for eliminating illegal refineries that have constituted a menace not only to the economy but also to the environment.
On his part, COO, Downstream, Engr. Ikem Obih, disclosed that as part of the commitment of the GMD to reduce the challenges posed by trucks on the nation’s highways, most of the NNPC pipelines were being revamped and that the Aba-Enugu line would soon be restored.
Engineer Obih said it was difficult to determine the actual daily consumption of petrol in the country because of trans-border smuggling and other factors, adding that the NNPC was working with the Ministry of Finance to arrive at a verifiable national daily consumption figure.
