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Ministers, Oil and Gas Industry Captains Converge on Yenagoa for 2023 Practical Nigerian Content Forum

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The 17-story Nigerian Content Tower (NCT), Headquarters of the Nigerian Content Development and Monitoring Board (NCDMB), Swali, Yenagoa, is set to host oil and gas industry eggheads and policy makers as the yearly Practical Nigerian Content (PNC) Forum 2023, 12th edition, kicks off on 4thDecember.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and his Gas counterpart, H.E. Hon. Ekperikpo Ekpo would lead other big wigs of the oil and gas industry heading to Yenagoa for one of the biggest events in the calendar of the oil and gas industry.

The Ministers are expected to deliver ministerial addresses and to show the direction of the Federal Government’s thinking concerning Nigerian Content and investment strategies.

The PNC is hosted by the NCDMB in partnership with DMG Events and Bayelsa State Government and this year’s edition is slated to open with an invitational golf tourney and welcome dinner – the first of the three gala nights that would be sponsored by Coleman Wires and Cables, the Bayelsa State Government and the Nigeria LNG Ltd, to be closed on Thursday, December 7, 2023 with a visit by delegates to the facility of MG VOWGAS in Port Harcourt, River State.

Some of the presentations that will be received at the PNC include the opening keynote address by the host of the event and Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote, while the Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, and Chief Executive, Nigerian Midstream and Downstream Petroleum Authority (NMDPA), Engr. Farouk Ahmed, alongside other key industry figures would feature prominently in the 4-day event. Also, the Group Chief Executive Officer, Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kolo Kyari is also expected to grace the PNC as he had always done in previous years.

SEE ALSO:  Release Nnamdi Kanu, other detainees now, Obi tells Tinubu

Major international oil companies (IOCs), members of the Independent Petroleum Producers Group (IPPG), and service companies, would be actively participating in the four-day conference, with their chief executive officers functioning in one capacity or the other, principally as moderators of panel discussions or panellists or delivering papers on critical subjects relating to local content practice in the oil and gas industry.  

For the 2023 edition, key subjects for the panel sessions centre around “Providing an Enabling Environment for Investment in the Energy Sector,” “Opportunities in Decarbonisation and Domestic Gas Utilization,” “Deepening Nigerian Content in the Manufacturing Sector,” and “Financing a Thriving Midstream Sector for Socioeconomic Development,” and Sustainable Framework for Human Capacity Development.” Presentations on R&D Success Stories are also expected.

In addition to the expansive exhibition, the PNC Forum affords prospective investors and clients as well as fund managers an interactive platform with key Federal Government officials overseeing the oil and gas sector, key industry operators and service providers, and chief executives of the regulatory agencies. Among the industry players, a major activity is evaluation of their performances in local content practice, and consideration of appropriate adjustments aimed at better results.

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To be showcased are opportunities for collaboration and partnership between the public sector and private business interests and between the private sector and academia; also, emerging opportunities from divestments by IOCs and the decarbonisation drive in the industry.

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Peter Obi should be held responsible for anarchy arising from August 1 hunger protest – Presidency

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Bayo Onanuga
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Bayo Onanuga, a senior to President Bola Tinubu, has alleged that supporters Mr Peter Obi, former presidential candidate of the Labour Party, LP, are planning mayhem in Nigeria.

Onanuga claimed that the proposed nationwide protests were being planned by Obi’s supporters, whom he described as failed presidential candidate.

According to him, Obi should be held responsible for whatever crisis that would emanate from the action.

In a post on his X handle on Saturday, Onanuga said the proposed protest planners are also the same people who were instigated by the incarcerated IPOB leader, Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020.

He wrote: “REVEALED: Peter Obi’s supporters are the people planning mayhem in Nigeria: Obi should be held responsible for anarchy

“Don’t be fooled: the malcontents planning to stage nationwide protests are supporters of Peter Obi, the failed presidential candidate of the Labour Party. And he should be held responsible for whatever crisis emanates from the action.

“The protest planners are also the same people who were instigated by IPOB leader Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020. ENDSARS began as a genuine protest by youths against the Police Special Anti-Robbery Squad, notorious for its high-handedness. IPOB members planning to extricate the South East region from Nigeria infiltrated the protest and hijacked it for their own agenda. Lagos still bears the scar of the malicious destruction by IPOB elements until today.

“Two years after ENDSARS, the IPOB and the gullible innocents joined the Labour Party in 2022 to support Peter Obi, a sympathiser of their cause.

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They are the people spreading the hashtags ‘EndBadGovernance’, ‘Tinubu Must Go,’ and ‘Revolution2024’. They are not democrats but anarchists. They are attempting to call out our people via propaganda because their Messiah, Peter Obi, failed to win the Presidency in the 2023 election. As bad losers, they don’t have the patience to wait for another election in 2027; they would rather destabilise Nigeria by staging a civilian coup against President Bola Ahmed Tinubu.

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SEE ALSO:  Court orders Anambra cleric Daddy Hezekiah to pay bank manager N10m for human rights abuse
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Two brothers drown in FCT River

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Two brothers drown in FCT River
•The river behind the village
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Two brothers, Joshua and Samson, have drowned in a river in Robukya community in Kwali Ward in Kuje Area Council of the FCT.

A relation of the deceased, Musa Abednego, who confirmed the incident to our reporter on Thursday, said it happened on Tuesday around 9am while they were crossing the river.

He said the brothers, Joshua and Samson, were between the ages of nine and 12 and that they were on their way to the farm when the incident happened.

He explained that the victims got drowned following a heavy rainfall which made the river to overflow.

He said, “Their father asked them to hold on after the rain subsided. Unfortunately, they left home to the farm without him knowing.”

Abednego said their corpses were recovered on Wednesday around 4pm through the help of some fishermen, adding they had been buried.

The spokeswoman of the FCT Police Command, SP Josephine Adeh, was yet to speak on the incident.                                              Daily Trust

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CBN intervenes in foreign exchange market

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CBN intervenes in foreign exchange market
Central Bank of Nigeria
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The Central Bank of Nigeria (CBN) has started selling foreign exchange on a regular basis through Authorised Dealer Banks and licensed Bureaux De Change (BDCs) as a response to the current fluctuations in the foreign exchange market.

These fluctuations are primarily caused by the demand pressure coming from corporate entities and the seasonal increase typical during the summer period.

By implementing regular sales of foreign exchange, the CBN aims to stabilise the market and ensure smoother transactions for both businesses and individuals involved in foreign exchange activities.

Director, Financial Markets Department of the CBN Dr Omolara Omotunde Duke in a statement on Friday night assured the public of the bank’s commitment to address the demand pressure and stabilize the foreign exchange market.

Highlighting recent transactions, the CBN disclosed that it sold a total sum of US$106,500,000.00 to 29 authorized dealer banks on Thursday, July 18 and Friday, July 19, 2024.

These transactions took place within an exchange rate range of N1,498.00/US$1 to N1,530.00/US$1. Additionally, the CBN purchased US$9,500,000 (Nine Million and Five Hundred Thousand Dollars) from four authorized dealer banks at rates between N1,510.00/US$1 and N1,550.00/US$1. All these transactions are marked for settlement on July 19, 2024.

The Central Bank also stated its commitment to closely monitor compliance with existing trading rules and regulations by authorized dealer banks. This is seen as an effort to promote ethical conduct and ensure stability in the foreign exchange market.

The general public was also advised to direct their foreign exchange demands to their respective banks and BDC operators, adhering to prevailing market regulations.

SEE ALSO:  Why I rejected N150m bribe from Lagos businessman – Police Officer

With the regular sale of foreign exchange and ongoing monitoring of trading practices, the CBN aims to meet demand pressure, foster stability, and sustain a well-functioning foreign exchange market.

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