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Nigeria Breaks New Ground! FG Approves First-Ever Floating LNG Plant License

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Nigeria Breaks New Ground! FG Approves First-Ever Floating LNG Plant License....KINDLY READ THE FULL STORY HERE▶

UTM Offshore Limited, a Nigerian company, has received the first-ever license to construct the country’s pioneering floating liquefied natural gas (LNG) plant.

According to Naija News, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued the license, marking a significant step towards the completion of the LNG facility, which is expected to produce 2.8 million metric tons annually.

Farouk Ahmed, Chief Executive of NMDPRA, hailed the development as a key milestone aligned with the government’s gas expansion initiatives. This project is also a strategic move towards capitalizing on Nigeria’s vast gas reserves, estimated at 206 trillion cubic feet, much of which is currently flared or re-injected into wells.

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Initially, in 2019, UTM was granted a license for a facility with a capacity of 1.2 million tons per annum. However, due to increased global demand for LNG, this capacity was upgraded to 2.8 million tons.

The facility will be located offshore in Akwa Ibom State, within the resource-rich Niger Delta. The plant is scheduled for completion in 2028, with gas production starting a year later. It will produce LNG, petroleum gas, and condensate.

UTM’s CEO, Julius Rone, revealed that in 2021, the company secured a memorandum of understanding with the African Export-Import Bank to raise up to $2 billion for the project. The bank has already received preliminary approval to contribute $350 million.

Rone also confirmed that contracts for the project design have been awarded to Japan’s JGC Corp. and Houston-based KBR Inc., with Vitol Group securing an off-take agreement for the LNG output.

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Furthermore, UTM signed a deal last year with the Nigerian National Petroleum Co. Ltd. (NNPC), granting them a 20% stake in the project. UTM intends to source gas for the facility from an offshore oil field operated by ExxonMobil in partnership with NNPC. However, this asset is currently being sold to Seplat, a company looking to develop its extensive gas reserves.

Rone commented, “The stranded gas can only be monetized through floating LNG technology, adding value to Seplat’s balance sheet with a ready-made buyer for undeveloped gas.”

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Tension In UK As Nigerians Push For INEC Chairman’s Removal Ahead Of 2027.

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A group of Nigerians has staged a protest at the United Kingdom Parliament, calling for the removal of the Chairman of the Independent National Electoral Commission (INEC) ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

The demonstrators reportedly gathered outside the parliamentary complex, expressing dissatisfaction with the leadership of the electoral body in Nigeria and demanding immediate action.

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They insisted that the INEC chairman should be removed, alleging concerns over credibility and trust in the electoral process as the country prepares for the next election cycle.

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The protest drew attention from passersby and security personnel, as the group maintained their position that electoral reforms and leadership changes were necessary to restore public confidence.

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“My Nightclubs Are The Least Of What I Do” — Sir Uyi Fires Back At Critics.

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Sir Uyi has responded strongly to critics of his involvement in nightclub businesses, insisting that such ventures represent only a small part of his wider activities.....KINDLY READ THE FULL STORY HERE▶

In a firm reaction to recent criticism linked to Vaniti, he stated that people are focusing too much on his nightlife businesses while ignoring other aspects of his work and achievements.

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He stressed that his nightclub operations do not define his entire identity or professional portfolio, adding that he is involved in several other ventures beyond entertainment and hospitality.

According to him, the criticism reflects a narrow perception of what he does, and he believes his broader contributions are being overlooked.

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Sir Uyi maintained that he remains focused on his various commitments despite public scrutiny surrounding his nightlife business interests.

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Shock In Benue As Police Nab Seven Over Abduction Of JAMB Candidates.

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The Benue State Police Command has confirmed the arrest of seven suspected militia herdsmen in connection with the abduction of passengers travelling in an 18-seater Benue Links bus along the Makurdi–Otukpo road last Wednesday.....KINDLY READ THE FULL STORY HERE▶

The victims, which included candidates of the Joint Admissions and Matriculation Board (JAMB) heading to Otukpo for their examinations, have all been successfully rescued.

Speaking while briefing Governor Hyacinth Alia in Makurdi during the presentation of the freed victims, the Commissioner of Police, Ifeanyi Emenari, said the rescue operation was achieved through coordinated efforts of multiple security agencies.

He explained that five of the abducted passengers were first released, while the remaining 13 were rescued on Sunday morning without injuries.

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According to him, the combined pressure from security forces, supported by the state government and the Inspector-General of Police, led to the successful outcome of the operation.

Emenari further disclosed that eight suspects are currently in custody, adding that seven of them are strongly linked to the kidnapping incident, with some victims already identifying them.

He also noted that clearance operations have begun across forest areas in the state to flush out criminal groups, in line with directives from security authorities.

Governor Hyacinth Alia, while receiving the rescued passengers, expressed concern over rising cases of kidnapping in the state but welcomed the safe return of all 18 victims.

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He confirmed that among those rescued were eight candidates on their way to write examinations, and called on the Joint Admissions and Matriculation Board (JAMB) to reschedule the affected exams for them.

The governor assured that the state government remains committed to supporting the victims and strengthening security across Benue State, while also urging residents to provide credible information to security agencies.

He further directed the state health authorities to conduct medical evaluations for all rescued persons and promised government support for those affected.

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