4m bpd Target: KPMG Reviews FG’s Incentives, Thumbs-Up Moves to Cut Production Cost Welcomes reintroduction of tax credits in oil sector Advocates constant monitoring of reform results
Emmanuel Addeh in Abuja
Global audit, tax, and advisory firm, KPMG has backed the attempt by the federal government to incentivise
operators in Nigeria’s oil and gas industry to, among others, cut the unit technical cost of oil production in the country. In a commentary on the recent
executive orders notice to industry by President Bola Tinubu to drive growth in the sector, KPMG, however noted that it was essential to ensure that the benchmark price, put at $20
per barrel, remains competitive for operators in the sector, especially considering some unique challenges in Nigeria. For close to half a decade, Nigeria
has struggled to raise crude oil as well as gas production, two natural resources the country has abundance of, without much success. The country blames unprecedented oil theft, waning
investment, aging infrastructure, among others, for the current challenges. In May 2023, the Oil and Gas Continued on page 5
Minimum Wage: NLC Directs Workers in Non-compliant States to Begin Strike December 1...
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NACCIMA: Prevailing High Interest Rates Regime Reflect CBN System’s Disconnect from Businesses... Page 6
IG Forbids Quasi-security Outfits During Ondo Guber Election, Pledges Peaceful Poll PDP, CUPP caution electorate against vote selling as parties share fertilisers, rice, maize to voters
Chuks Okocha and Linus Aleke in Abuja Inspector General of Police, Kayode
Egbetokun, yesterday, ordered that no quasi-security organisation, including state-backed groups, like Vigilante Corps or Amotekun,
would be permitted to participate in the Saturday election. Reaffirming the established guidelines governing election
security management, Egbetokun also issued stern warning to political thugs and individuals or groups that might contemplate acts of violence
or disruption before, during, or after and Coalition of United Political the election, saying they would Parties (CUPP) also appealed to face the full force of the law. Continued on page 5 Peoples Democratic Party (PDP)
Presidency: Atiku is Undermining Tinubu’s Government Out of Envy Stresses ex-vice president not in tune with nation's current economic realities Insists his criticisms are hare-brained propositions without realistic alternatives
Deji Elumoye in Abuja The presidency, last night, lashed out at former Vice President Atiku Abubakar over his unceasing criticism of the President Bola Tinubu administration, saying he should end his delusions and imaginations because he is already undermining the president. In a statement by presidential spokesperson, Bayo Onanuga, the presidency said Atiku was also envious of Tinubu's position, which he had failed to get after a record six attempts. Stressing that Atiku appeared not to be in tune with current economic realities in the country, the presidency made it clear that the former number two citizen’s criticisms of the Tinubu government were hare-brained propositions devoid of realistic alternatives. Continued on page 5
ADEDUNTAN RETIRES FROM FIRSTBANK... L-R: Nnamdi Okonkwo (GMD FBN Holdings); Ebenezer Olufowose, Chairman FirstBank, Governor Babajide Sanwoolu of Lagos State, Adesola Adeduntan, and wife (retired GCEO FirstBank Group); Governor Dapo Abiodun of Ogun State, Emir of Kano, Mohammad Sanusi II, CFR (who is a former GCEO of FirstBank); and current GCEO of FirstBank, Segun Alebiosu at the Special SendForth organised by FirstBank for its retired GCEO, Dr Adesola Kazeem Adeduntan, FCIB in Lagos...recently