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Oil Sector Attracts $16.6 Billion Investments Under Tinubu’s Administration – Minister” May 23, 2024
Oil Sector Attracts $16.6 Billion Investments Under Tinubu’s Administration – Minister” May 23, 2024....KINDLY READ THE FULL STORY HERE▶
Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), revealed on Monday that Nigeria’s oil and gas sector had attracted approximately $16.6 billion in investments over the past year since President Bola Tinubu assumed office on May 29, 2023……..CONTINUE READING
Speaking in Abuja while providing updates on achievements in the oil sector under Tinubu’s administration, Lokpobiri highlighted the efforts made to create an environment conducive to investment. He noted that previous challenges such as the non-passage of the Petroleum Industry Act and inconsistent policies had deterred investments, but recent initiatives had revitalized investor confidence.
Lokpobiri cited examples of significant investments, including $5 billion and $10 billion in deepwater offshore assets, as well as a $1.6 billion commitment in oil and gas asset acquisition. He attributed the increased interest in Nigeria’s oil sector to successful roadshow activities in the United States and Europe.
The minister also reported a notable increase in crude oil production since Tinubu’s administration took office. Production had risen from approximately 1.1 million barrels per day to 1.7 million barrels per day, inclusive of condensate. Lokpobiri credited this achievement to streamlined operations and conflict resolution efforts among stakeholders.
To further boost crude oil production, Lokpobiri outlined various steps taken, including revamping redundant oil assets, resolving industry disputes, and enhancing security measures to combat oil theft. He highlighted the successful commencement of production in OMLs 13 and 85, with expected daily outputs of 20,000 and 40,000 barrels respectively.
Lokpobiri concluded by reaffirming the administration’s commitment to optimizing production from Nigeria’s oil and gas assets. This announcement came as part of Tinubu’s directive for ministers to present their performance reports to the public in commemoration of his first anniversary in office.
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UNGA SHOWDOWN: Furious Obidients Demand Immediate Answers For Tinubu’s Three-Year Global Snub!
The Obidient Movement has criticized President Bola Tinubu for his continuous absence from the United States and the United Nations General Assembly (UNGA), demanding that the government account for his failure to attend the global summit for three consecutive years.....KINDLY READ THE FULL STORY HERE▶
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Global Snub Criticism: In a statement issued by its Media and Communications Directorate, the group questioned why President Tinubu chose to holiday in France and attend a private dinner with French President Emmanuel Macron instead of representing Nigeria at the UN summit.
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Implications for Nigeria’s Image: The movement argued that Tinubu’s repeated absence projects a lack of seriousness regarding international diplomacy, noting that UNGA provides a crucial platform to advance national interests, engage global leaders, and address matters affecting Nigeria and Africa.
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Demand for Transparency: Contrasting Tinubu’s European trip with French President Emmanuel Macron—who traveled to New York for UNGA—the group insisted that the administration must clarify its official engagements and provide clear facts regarding the decisions keeping the President away from the international assembly.
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THE GREAT DEFECTION: Former Buhari Ally Babachir Lawal Breaks Silence, Shatters Opposition Lines With Surprise NDC Move!
A former Secretary to the Government of the Federation (SGF), Babachir David Lawal, has officially defected to the Nigeria Democratic Congress (NDC).....KINDLY READ THE FULL STORY HERE▶
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The Reception: Lawal was welcomed into the party by NDC National Leader, Senator Seriake Dickson, and members of the National Working Committee (NWC) on behalf of the party’s presidential candidate, Peter Obi, and his running mate, Rabiu Kwankwaso.
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Past Departure: Earlier in the year, Lawal parted ways with the African Democratic Congress (ADC) following leadership disputes and allegations that their presidential primary was manipulated in favor of Atiku Abubakar.
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Endorsing the Ticket: Explaining his move, Lawal urged patriotic Nigerians troubled by the country’s economic hardship, hunger, and insecurity to support the Obi-Kwankwaso ticket, looking forward to a successful celebration on May 29, 2027.
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Party Leadership Praise: Senator Dickson lauded Lawal as an experienced politician and grassroots mobilizer, assigning him a leadership role to oversee NDC activities and campaigns across the North-Eastern zone.
Lawal expressed confidence that the NDC represents the genuine path forward for Nigeria, calling on citizens to partner with the movement to rescue the nation.
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PRISON WARZONE: Fake Army General Brutally Ambushed And Attacked Behind Bars In Maximum Security Ikoyi Prison!
Bolarinwa Abiodun, a convicted fake Nigerian Army general, was reportedly hospitalized following an alleged physical assault by correctional officers at the Ikoyi Correctional Centre in Lagos.....KINDLY READ THE FULL STORY HERE▶
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According to an insider source, prison warders entered Bolarinwa’s cell while he was asleep, woke him up suddenly, and pushed him to the ground, causing him to fall.
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Following the alleged altercation, he was rushed to the Military Hospital on Awolowo Road, Ikoyi, for medical attention and theatre evaluation.
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A family source corroborated that relatives were later informed of the incident, claiming that Bolarinwa reported being severely beaten and subjected to physical abuse during a search for a mobile phone.
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The family source also expressed deep safety concerns, alleging that this incident follows several previous attempts on his life.
Background on Conviction
Bolarinwa has been serving a prison sentence following his initial remand in April 2022 by the Economic and Financial Crimes Commission (EFCC).
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He was arraigned before Justice Oluwatoyin Taiwo of the Special Offences Court in Ikeja on a 13-count charge encompassing forgery, possession of false documents, and obtaining money by false pretences amounting to ₦266.5 million.
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The EFCC stated that Bolarinwa deceived Kodef Clearing Resources Limited by posing as a military general and claiming that former President Muhammadu Buhari had shortlisted him for appointment as Chief of Army Staff, extracting large sums to “facilitate” the role.
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Investigators also recovered forged appointment letters, military identification cards, recommendations bearing former President Olusegun Obasanjo’s name, and several firearms from his Alagbado residence.
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Although he initially pleaded not guilty, Bolarinwa changed his plea to “guilty” during court proceedings on July 7, 2022.
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Justice Taiwo convicted him on all 13 counts, sentencing him to seven years’ imprisonment without the option of a fine, ordering asset forfeitures, and directing him to pay ₦20 million in restitution.
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