NNPC E&P Targets $20bn Investment to Grow Oil, Gas Output in 5 Years Raises oil production by 30% in 12 months
Emmanuel Addeh in Abuja NNPC Exploration and Production Limited (NEPL), a subsidiary of
the Nigerian National Petroleum Company Limited (NNPC), has said it requires about $4 billion investment annually to boost Nigeria's crude
Seplat reiterates plan to unlock 400 additional oil wells
oil and gas production in the next five years. A quick computation of the figure announced by the NEPL showed
that by 2030, the company will need a funding of circa $20 billion in capital and operating expenditures to effectively carry out its activities.
The company also stated that aside from its over 370,000 bpd drilling target for 2025, it intends to raise this figure to 550,000 bpd by the end of
2027, a period of about three years. Speaking on a panel in Abuja at Continued on page 9
Alake: Cultural, Political Sensitivities Hindering FG's Control of Gold Mining... Page 27 Tuesday 4 March, 2025 Vol 30. No 10922. Price: N400
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Fubara to Rivers People: Brace Up, What’s Ahead is More Than What Has Just Passed
Vows to defend state’s interest even at the risk of his office Assembly gives governor 48hrs to re-present 2025 appropriation bill
Blessing Ibunge in Port Harcourt
Rivers State Governor, Siminalayi
Fubara, yesterday, told the people of the state to brace up and take their destiny in their own hands,
because what laid ahead was more than what they had been through in the recent past.
Fubara promised never to deviate from putting the interest of Rivers State and the people first in the
face of forces desperate to pull him down, even at the risk of his office. That was as the Rivers State
Assembly, which had been at Continued on page 9
Peace Returns to Lagos, Obasa in Dramatic Return to Speakership Meranda resigns, back in office as Deputy Speaker Lawmakers emotional, cry as they accept ex-female leader’s resignation How Tinubu stood his ground against Obasa's removal President’s choice thanks party leaders who intervened in his favour Segun James Peace returned to the Lagos House of Assembly yesterday, as Mr. Mudashiru Obasa resumed as Speaker in a dramatic turn of events, allegedly, directed by President Bola Tinubu, who is also national leader of All Progressives Congress (APC), bringing the Assembly crisis to an unexpected end. The lawmakers, who had
orchestrated Obasa’s removal on January 13, reluctantly, amid tears, accepted the resignation of their preferred speaker, Hon. Mojisola Meranda, who was also returned to her former position as Deputy Speaker. Hon. Sanni Okanlawon equally resigned as Deputy Chief Whip, while Hon. Setonji David resigned Continued on page 9
WELCOME TO THE VILLA...
President Bola Ahmed Tinubu (right), welcoming the visiting President of Sierra Leone, Julius Maada Wonie Bio, to the Presidential Villa Abuja, yesterday