Connect with us

Latest News

Federal Government Awards 49 Flare Sites To 42 Investors, Advancing Nigerian Gas Flare Commercialisation Program

Published

on

Federal Government Awards 49 Flare Sites To 42 Investors, Advancing Nigerian Gas Flare Commercialisation Program....KINDLY READ THE FULL STORY HERE▶

The Federal Government, seven years after initiating the Nigerian Gas Flare Commercialisation Programme (NGFCP), has announced the allocation of 49 flare sites to a consortium of 42 investors. The primary objective of this program is to mitigate environmental damage and reduce the adverse effects of routine gas flaring on the Niger Delta region’s inhabitants, while also capitalizing on these valuable resources.

Trump Says Iran’s New Supreme Leader Is Alive But ‘Damaged’.

Despite escalating environmental concerns and revenue losses in Nigeria’s petroleum sector, Nigerian National Petroleum Company Limited (NNPCL), Shell, ExxonMobil, Chevron, Total, and other oil companies have continued to flare approximately $3.9 billion (equivalent to around N3 trillion) worth of gas over the past four years.

Read Also Ex-Campaign Spokesman Lauds President Tinubu For UAE Bilateral Agreement, Hails Minister Keyamo’s Achievement

Although these companies have pledged commitment to environmental sustainability and combating climate change, their operations have left Nigeria with 1.2 trillion standard cubic feet of gas and expected carbon dioxide emissions of 65.9 million tonnes.

No Handouts Needed: Billionaire Zenco Explains Why He Blocked Burial Donations

Frequently falling short of the zero gas flaring target, Nigeria, which possesses a gas reserve of over 209 trillion standard cubic feet, has been consistently criticized on the global stage for its gas flaring practices.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced on Wednesday that the selection of the 42 companies followed a competitive bidding process. Of these, 38 companies received awards for standalone single flare site development, while four were granted nine sites to be developed as clusters.

APC’s Bulabari Wins Khana II Bye-Election In Rivers.

This move aligns with NUPRC’s responsibilities under Section seven (e) and Section 105 (two) of the Petroleum Industry Act (PIA), 2021. In the third quarter of 2022, NUPRC restructured the NGFCP and relaunched the program to conform with PIA provisions and reflect current economic and operational realities.

Senator Natasha Akpoti Petitions AGF Over Alleged Police Bias in Akpabio Case

The Commission attributes the significant success in the NGFCP bid process to sustained engagement with key stakeholders, including domestic and international investors, development agencies, oil and gas producers, technology providers, and financial institutions.

Approximately 300 companies submitted applications for gas flare sites when the Request for Qualification (RFQ) was issued in the fourth quarter of 2022. The program was relaunched following the implementation of the Petroleum Industry Act.

Suspected Kidnapping Boss Arrested With Gun And Ransom Cash In Kwara.

The evaluation of Statements of Qualification (SOQs) led to the selection of 139 applicants. After issuing a Request for Proposal (RFP) to qualified applicants, 88 entities, including individual companies and consortiums, responded and submitted a total of 137 proposals. These proposals included technical, commercial, and financial documentation for one or more of the 49 flare sites designated for standalone or cluster development.

While some companies were designated as Reserve Bidders for corresponding flare sites in case Preferred Bidders fail to meet RFP terms and conditions, the 42 winners will proceed to individually execute Commercial Agreements with relevant parties and make the required award fee payments for the issuance of the Permit to Access Flare Gas by the Commission.

FG Recruits Retired Soldiers for New National Assignment—A Game-Changer?

KPMG, a global network of professional firms, has been approved to collaborate with the Commission in implementing the award process to ensure the successful outcome of the gas flare-out commercialization initiative.

“First Lady’s Attempt To Silence Governor Sparks Legal Backlash”.

Recall that the gas commercialization program was launched by the Ministry of Petroleum Resources on December 13, 2016, after approval by the Federal Executive Council (FEC), but its realization was delayed for seven years. In 2021, the Department of Petroleum Resources (DPR), now NUPRC, identified 45 out of 178 gas flaring sites in the country for allocation to successful bidders, with additional flare sites expected to join the program.

Advertisement

latest

“Adeyanju Tells Nigerian Govt: Terrorists Deserve Death, Not Forgiveness”.

Published

on

Activist lawyer Deji Adeyanju has insisted that terrorists and their collaborators deserve the death penalty, not forgiveness.....KINDLY READ THE FULL STORY HERE▶

Adeyanju made the statement while urging the Federal Government to adopt a stricter approach in tackling terrorism. On his X page, he argued that anyone involved in terrorism—or those supporting them—should face capital punishment rather than leniency.

No Handouts Needed: Billionaire Zenco Explains Why He Blocked Burial Donations

He criticized what he described as the government’s tendency to show mercy toward terrorists, warning that such leniency could undermine national efforts to combat insecurity.

Fresh Violence Rocks Akwa Ibom as Armed Groups Clash—12 Injured, Homes Torched

Adeyanju called on authorities to end policies that appear to pardon or reintegrate terrorists, insisting that a firm and uncompromising stance is essential to deter violent extremism and protect citizens.

“First Lady’s Attempt To Silence Governor Sparks Legal Backlash”.

“Terrorists and their sympathizers deserve death, not forgiveness. The Nigerian government must stop forgiving and romancing terrorism,” he wrote.

The comments come as Minister of Defence Christopher Musa assured Nigerians that terrorists and bandits are sustaining heavy losses in ongoing military operations. Speaking after a security briefing with President Bola Ahmed Tinubu at the Presidential Villa, Abuja, Musa said the Armed Forces had updated the President on the latest security situation and clarified what he described as “misleading interpretations” circulating in the media.

APC’s Bulabari Wins Khana II Bye-Election In Rivers.

Continue Reading

latest

“Lagos Residents Hit the Streets Over Constant Power Outages”.

Published

on

Residents of Lagos took to the streets on Friday to voice their frustration over persistent electricity outages, describing the state’s power supply as “epileptic” and unsustainable for both daily life and business operations.....KINDLY READ THE FULL STORY HERE▶

FG Recruits Retired Soldiers for New National Assignment—A Game-Changer?

A video shared widely on social media showed dozens of protesters, mostly youths, marching through the Fadeyi area, holding placards and chanting for consistent electricity.

Dele Momodu Warns FG To Take Trump’s War Threat Seriously.

The demonstrators criticized what they called the collapse of the nation’s power sector, insisting that erratic electricity is disrupting livelihoods and making life increasingly difficult across Lagos.

APC’s Bulabari Wins Khana II Bye-Election In Rivers.

Placards carried by the protesters included messages such as:

  • “No More Estimated Billing”

  • “No More Epileptic Power Supply”

  • “No Light, No Life, No Nation”

  • “You’re Destroying Businesses; Give Us Regular Light”

No Handouts Needed: Billionaire Zenco Explains Why He Blocked Burial Donations

One protester shouted, “We are not asking for too much. Give us light!” as the march continued.

Local business owners highlighted the heavy toll of inconsistent electricity on their operations, noting that reliance on fuel-powered generators has driven up costs. A shop owner said, “We cannot continue like this. Every day we spend money on fuel because there is no electricity. Many small businesses are closing because they cannot cope.”

Gunmen Still Rule Our Villages – Benue Displaced Persons Reject Return to Hostile Homeland

The protest reflects growing public dissatisfaction with power supply in Lagos, with residents calling on authorities and electricity providers to ensure a stable and reliable service.

“First Lady’s Attempt To Silence Governor Sparks Legal Backlash”.

Continue Reading

latest

“Ikeja Court Seizes Responsible Leaders Hotel Over Alleged Forex Fraud”.

Published

on

The Federal High Court in Lagos has ordered the temporary seizure of a multi-billion naira hotel linked to Edward Olutoke, Managing Director of the Ikeja Chamber of Commerce, Industry, and Agriculture, following allegations that the property was purchased with funds obtained through a fraudulent forex and investment scheme.....KINDLY READ THE FULL STORY HERE▶

Trump Says Iran’s New Supreme Leader Is Alive But ‘Damaged’.

According to a statement by the Economic and Financial Crimes Commission (EFCC), Justice A.O. Owoeye, sitting at the Federal High Court in Ikoyi, Lagos, on Wednesday, March 12, 2026, ruled that the Responsible Leaders Hotel, located at 1 Ostra Close, Jobi Fele Way, Alausa, Ikeja, be temporarily handed over to the government. The property is valued at approximately ₦1.3 billion.

Senator Natasha Akpoti Petitions AGF Over Alleged Police Bias in Akpabio Case

The order followed an urgent application by the EFCC, presented by its lawyer, C.C. Okezie, who provided evidence suggesting the hotel was acquired through illicit means. The application was supported by an affidavit sworn by Obed Tanko, an EFCC investigator.

FG Recruits Retired Soldiers for New National Assignment—A Game-Changer?

According to the EFCC, Olutoke allegedly convinced numerous Nigerians to invest billions of naira in a capital-guaranteed forex trading and investment scheme, promising secure funds and high returns.

Fresh Violence Rocks Akwa Ibom as Armed Groups Clash—12 Injured, Homes Torched

“The suspect allegedly obtained billions of naira from unsuspecting investors under the guise of operating a capital-guaranteed forex trading and investment scheme,” the commission said.

“First Lady’s Attempt To Silence Governor Sparks Legal Backlash”.

Investigations revealed that neither Olutoke nor his company had the required legal permits to operate an investment business. Instead of trading the funds as promised, the EFCC claims the money was used to acquire expensive properties, including the Ikeja hotel.

Gunmen Still Rule Our Villages – Benue Displaced Persons Reject Return to Hostile Homeland

During the hearing, Okezie argued that the hotel should be seized as it was reasonably suspected to have been purchased with proceeds from unlawful activities. After reviewing the evidence, Justice Owoeye agreed, ruling that the asset should be temporarily taken over while the case proceeds.

Suspected Kidnapping Boss Arrested With Gun And Ransom Cash In Kwara.

The judge also ordered the EFCC to publish the decision in a national newspaper, allowing anyone with a legal claim to the hotel to come forward and explain why the property should not ultimately be forfeited to the Federal Government of Nigeria.

Continue Reading

Trending

Copyright © 2023 NIVONEWS