After 29 Years, NNPC Renews Production Contracts with Partners, May Unlock $500bn Revenue, $4bn FDI for Nigeria Emmanuel Addeh in Abuja The Nigerian National Petroleum Company Limited (NNPCL) and its partners yesterday signed renewed Production Sharing
Contracts (PSCs), in a deal that could potentially boost Nigeria’s oil production substantially. Aside from the PSCs, other subcontracts at the event, which took place at the NNPCL
headquarters in Abuja, included Dispute Settlement Agreements (DSAs), Settlement Repayment Agreement (SRAs), as well as Escrow Agreements. Parties to the contracts, which
saw the Group Chief Executive Officer, Mallam Mele Kyari, sign on behalf of the NNPCL, were: Total Energy, Chevron, Shell Nigeria Exploration and Production Company (SNEPCO),
Esso Exploration and Production Nigeria Limited, China’s Sinopec, Equinor, Sapetro, among others. The hitherto disputed five Oil Mining Leases (OMLs) which had lingered for almost 30 years,
included 128, 130, 132, 133, and 138. But with the resolution of all pending issues, the assets are expected to unlock over Continued on page 5
Presidency: FG Freed Wife, Children of Train Terror Leaders without Result... Page 5 Saturday 13 August, 2022 Vol 27. No 9986
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Security Agencies, Nation's Resources Overstretched By Terrorism, Laments Buhari Deji Elumoye in Abuja President Muhammadu Buhari has declared that Nigeria's current security challenges have overstretched the deployment of security agencies and the nation's resources. The President, who spoke
yesterday at the State House, Abuja during the launch of the National Crisis Management Doctrine (NCMD), also noted that the evolving state of insecurity, with the emergence of the Boko Haram terror group and other forms of criminal activities, had worsened fears among Nigerians.
He said: “The emergence of the Boko Haram terrorist group, as well as bandits and kidnappers in Nigeria considerably changed the country’s security situation, leaving panic in the minds of the populace. “These and other security challenges confronting the nation
tend to stretch the deployment of our security agencies, resources and national security apparatus." He was, however, of the view that the newly launched NCMD would strengthen the nation's security by bridging the gap created by extensive deployment of security services
through fostering collaboration amongst Ministries, Departments and Agencies (MDAs). According to him, the NCMD, which was developed by the Office of the National Security Adviser (ONSA), in coordination with relevant MDAs, would ensure greater successes in tackling
national crises. The President lauded the efforts of the National Security Adviser, Major-General Babagana Monguno (rtd), his staff and members of the working group from various responder MDAs Continued on page 5
Okowa: Nigeria Now Badly Fractured, Too Polarised to Have an Untried President in 2023 ‘There are loads of problems and if we do not elect the right person, we'll find ourselves with somebody who is going to get to the seat and become confused because the problems will overwhelm him; he will not even know how to start’
Kuni Tyessi in Abuja Delta State Governor and the vice-presidential candidate of the Peoples Democratic Party, (PDP) Dr. Ifeanyi Okowa says Nigeria is currently too fractured and too polarised for an inexperienced person to succeed President Muhammadu Buhari in 2023. Speaking yesterday in Abuja at an event organised by Green Assembly Initiative (GAI) to mark International Youths Day 2022, where about 60 Nigerian youth groups declared support for the actualisation of Atiku Abubakar's presidency in 2023, Okowa said if an inexperienced person is elected president, “he will become confused on that seat, because the problems will overwhelm him; he will not even know how to start.” He then declared that only Continued on page 5
DEALING WITH NATIONAL CRISIS… L-R: Chief of Air Staff, Air Marshal Oladayo Amao; Chief of Defence Staff, General Lucky Irabor; President Muhammadu Buhari; National Security Adviser (NSA), retired Major General Babagana Monguno; Chief of Army Staff, Lieutenant General Farouk Yahaya and the Chief of Naval Staff, Rear Admiral Awaal Gambo, during the unveiling of the “National Crisis Management Doctrine” at the Presidential Villa, Abuja…yesterday. GODWIN OMOIGUI
Lalong Begs Catholic Bishops for Pope Mention while Defending Choice as Tinubu’s Campaign DG... Page 5