NUPRC Releases Regulatory Divestment Framework for Exiting International Oil Companies Emmanuel Addeh in Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has made public conditions, including
a due diligence request list that exiting International Oil Companies (IOCs) must fulfil for such deals to be approved by the commission. It listed them as: Technical
capacity, financial capability, fulfilment of legal requirements, decommissioning and abandonment, host community trust, industrial relations and data repatriation.
The Chief Executive of the commission, Mr Gbenga Komolafe, had a day earlier argued that the NUPRC was not interested in blocking companies interested in divestment, but
would always insist on due process. On technical capacity, it stated that the successor entity must demonstrate proven and verifiable capacity to operate
the asset vigorously and in a business-like manner. The entity, it said, must showcase competencies and Continued on page 5
Oronsaye Report Has Become Obsolete, Requires Review, House, Sani Advise Tinubu... Page 39 Friday, March 1, 2024 Vol 29. No 10551. Price: N400
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Atiku Seeks Opening Up of Power Generation, Transmission for Private Investments... Page 6
In Place of Restructuring, Soyinka Seeks Nigeria’s Reconfiguration, Decentralisation Says national conferences mere distractions Advises leaders to stop taking nation for a ride Knocks Obasanjo on failed third term agenda Wale Igbintade Nobel laureate, Professor Wole
Soyinka, has called for the reconfiguration and decentralisation of the country, saying they are
necessary steps towards national progress. Speaking yesterday at the 50th
anniversary lecture of the Punch newspaper, with the theme, “Recovering the narrative," Soyinka
said it was time the country stopped organising national conferences, which had proved to be mere
distractions. Continued on page 5
Tinubu: Labour’s Four Strikes in Nine Months of My Government Unacceptable Flays union’s disruptive tendencies, says it’s not Nigeria’s only voice Inaugurates Lagos redline, states democracy measured by people-oriented outcomes Story on page 5 We’re connecting the dots of Lagos, Sanwo-Olu boasts
INAUGURATION OF LMRT RED LINE PROJECT... L-R: Governor of Kogi State, Mr. Ahmed Ododo; Governor of Imo State and Chairman, Progressives Governors Forum, Sen. Hope Uzodinma; his Kwara State counterpart and Chairman, Nigeria Governors Forum, Alhaji AbdulLateef AbdulRazaq; President Bola Tinubu; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his counterparts, Prince Dapo Abiodun (Ogun); Prof. Babagana Zulum (Borno); Mr. Abiodun Oyebanji (Ekiti); former Governor of Lagos State, Mr. Akinwunmi Ambode, in front row: wife of Lagos State Deputy Governor, Mrs. Oluremi Hamzat; wife of the Governor, Dr. Ibijoke Sanwo-Olu during the inauguration of the LMRT Red Line project at the Ikeja Train Station, Kudirat Abiola Way, Lagos ... yesterday