IOCs are not leaving Nigeria, says Oil & Gas Free Zone boss

The Chief Executive Officer of the Oil and Gas Free Zones Authority, OGFZA, Mr. Bamanga Jada, has said that contrary to media reports that oil giants are leaving the country, the International Oil Companies, IOCs, are divesting into deeper waters and selling off the offshore operations.

Speaking on a Television programme monitored in Lagos, Jada also said that these oil companies have been working in Nigeria for decades adding that they have been able to develop local capacity that they are now taking over their offshore operations while transferring technology to Nigerians.

Jada explained that rather than move out of Nigeria, the IOCs are investing in cleaner and more sustainable energy by exploring gas in deeper waters of the nation’s oil and gas industry.

The agency boss also said that the IOCs are confident that Nigerians can manage onshore downstream petroleum aspect of whatever the oil and gas they (IOCs) are handing over to them.

He said: “Shell is trying to cut down investment in hydro-carbon because they are very mindful of our environment which is line with the President Ahmed Tinubu to cut down emission releases into the ozone layer and investing into gas which is more environmentally friendly and more sustainable source of energy.

“The ease of doing business in Nigeria is a priority, all bottle necks will be eliminated, and investors understand that President Tinubu is committed to removing all bottlenecks to attract investors and the President has also been marketing Nigeria in this direction.

“Just last month, we had a meeting with the Minister of Finance and Coordinating Minister of the Economy, the Minister of Budget and National Planning and also the Minister of Trade and Investment on how to make the special economic zones of Nigeria more efficient.

‘‘The government is considering an increase in investment within the zones in terms of infrastructure and the government is committed to improve the infrastructure within which is also part of my seven point agenda.

“The multi-nationals are ready to go into gas exploration, which is more environmentally friendly and cleaner source of energy. When you mention Shell and Total, Shell was able to transfer technology to our people, was able to develop capacity and they are now going into offshore.

‘‘The same thing with Total Nigeria Limited, after showing intention to exit the offshore and the downstream aspect of the industry, they pledged to invest over $600million into the system through the production of gas. This is a welcome development. This is also to show that the President’s economic policies are working.”

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State. Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic. Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation. Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate...

BREAKING: 2Baba Shot Dead In Rivers State

A notorious cult leader and the prime suspect in the brutal murder of the late Divisional Police Officer, SP Bako Angbashim, in the state, Gift Okpara, popularly referred to as 2Baba, has been reportedly killed in a police-led major security raid. The police and other security agencies were said to have conducted land and aerial raids at the identical hideout of the Iceland cult leader and his gang at Idu-Ekpeye in Ahoada East local government area of Rivers on Saturday, February 17. According to The Nation , the Iceland cult leader was reportedly feared dead after the operation. Recall that in September 2023, the late DPO was ambushed and captured by the cult group led by 2Baba in the Odiemudie community, Ahoada East LGA. 2Baba and his gang then took the DPO to the forest, where they killed him and dismembered his body. The cultists then filmed him. Another source, Obi, said he saw no less than 15 vehicles and an Armored Personnel Carrier (APC) during th...

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