Connect with us

News

Tinubu establishes Task Force on Presidential Petroleum Reform & Value Optimisation

Published

on

Tinubu scraps Ministries of Niger Delta, Sports
Spread the love

Bayo Onanuga, Special Adviser to the President on Information & Strategy in a statement stated that Mr Fola Adeola, co-founder of Guaranty Trust Bank and founder and chairman of the Fate Foundation, is the Task Force’s chairman.

As chairman, he will coordinate the group’s work and ensure the timely delivery of its mandate.

Other members of the Taskforce are: Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella, while Mofoluwasho Fadayomi will serve as secretary.

As constituted, the Taskforce is a time-bound, high-level executive working group tasked with producing execution-ready reform blueprints that will consolidate ongoing reforms, unlock capital within the petroleum sector, and strengthen Nigeria’s position as a leading global energy investment destination.

The initiative reflects the President’s commitment to transforming Nigeria’s petroleum industry into a more competitive, transparent, and value-maximising sector capable of driving long-term economic growth, macroeconomic resilience, and industrial development.

It will operate as a technical reform body rather than a representative committee, engaging industry operators, regulators, investors, and civil society as consultees while focusing on actionable policy design and implementation strategies.

Maduka College Advert

The Taskforce will report directly to the President and provide monthly progress memoranda.

An interim report will be submitted after three months, while the final outputs are expected within six months of inauguration.

President Tinubu expects the Task Force to deliver three major reform blueprints.

One of the deliverables is the Implementation Toolkit for Immediate Structural Fixes – including draft legislative amendments, executive instruments, and institutional restructuring proposals.

The second deliverable is the Capital & Liquidity Acceleration Blueprint, aimed at unlocking $5–10 billion in sectoral liquidity while safeguarding Nigeria’s sovereign interests.

The third blueprint will focus on the National Energy Transformation Strategy – a ten-year roadmap with measurable targets for production, foreign exchange earnings, GDP contribution, and cost competitiveness.

President Tinubu has directed all Ministries, Departments, Agencies, regulators, and relevant institutions to provide full technical support to the Taskforce and to submit inventories of ongoing initiatives to ensure alignment with the emerging reform framework.

In furtherance of this directive, President Tinubu has also directed all existing committees, teams, and working groups established under various reform initiatives

within the sector to align their activities, reporting structures, and work programmes with the new Task Force.

The streamlining will ensure coordination, avoid duplication of mandates, and provide institutional clarity, thereby ensuring coherence in the petroleum sector reform architecture.

The President has also directed that all relevant documentation, institutional knowledge, and ongoing work streams should be made available to the Taskforce to support the development and implementation of its comprehensive reform framework.

The creation of the Taskforce represents a strategic presidential instrument to accelerate petroleum sector reforms, strengthen governance architecture, optimize

national energy assets, and position Nigeria’s petroleum resources as a foundation for sustainable economic transformation.

The Taskforce will automatically dissolve upon submission and acceptance of its final report.

News

Enugu targets 660MW Coal-Fired Power Plant, sets July groundbreaking date

Published

on

Spread the love

…Rolls out plans for AI Institute, Incubation Centre, others

… As Organised Private Sector endorses Mbah for a 2nd term, lists achievements

Enugu State Government has unveiled plans to build a 660MW coal-fired power plant in the state, starting from July this year, as part of Governor zPeter Mbah’s administration’s strategy to actualise its vision to grow the state’s economy from $4.4bn to $30bn.

This was even as the Organised Private Sector Nigeria (OPSN), an umbrella body for Nigeria Employers’ Consultative Association (NECA); Manufacturers Association of Nigeria (MAN); Nigerian Association of Small-Scale Industrialists (NASSI); Nigerian Association of Small and Medium Enterprises (NASME), and the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) endorsed the governor for a second term in office.

They said he had made them proud as a private sector player himself by his outstanding leadership that had “strengthened confidence in Enugu as an emerging destination for investment, commerce, enterprise development, and living.”

Governor Mbah spoke during a solidarity visit by OPSN, Enugu State, to him at Government House, Enugu, on Wednesday.

Mbah recalled that Enugu State, under his leadership, was the first subnational to set up an electricity market following the Constitution and Electricity Act amendments that effectively transferred power from the Exclusive List to the Concurrent List, thus paving the way for states to participate in all the power value chain, namely generation, transmission, and distribution.

Maduka College Advert

“But we have gone beyond just setting up the electricity market to now being interested in producing the electricity here. I am pleased to inform you that in July we are going to be breaking ground for a 660MW coal-fired power plant.

“The outlay in terms of time for building the plant is 24 months. So, our target is to commission that power plant 24 months after the groundbreaking in July.

“What that simply means is that post-2027, you will not have your power go off in Enugu, whether for businesses or for residential. You are also going to have affordable electricity because it is going to be by far the cheapest in the country.”

The governor allayed concerns normally associated with coal, citing the low sulfur content and high calorific value of Enugu coal, standing at about 7,000 kilocalories per kilogramme.

“The interesting thing about our coal is that we have the best quality of coal in the world. Our sulfur content is less than 0.5 per cent. With 1 per cent you are happy, but this one is 0.5 per cent. The only country that comes close is Japan.

“So, instead of just exporting our coal, we are going to be benefiting from it by adding value, generating electricity with it,” he said.

He said the project was not a knee-jerk decision, as his administration had taken about two years to undertake the necessary studies and also secure coal assets to guarantee unhindered supplies to the plant.

Mbah equally listed investment in security, establishment of a one-stop shop for prospective investors, the ongoing construction of a technology incubation centre, and partnership with the Nigerian Communications Commission to build an Artificial Intelligence Institute as part of his administration’s strategy to further improve the Enugu business environment and prepare for the future.

“In four years from now, AI will contribute $20trn to the global economy. We just do not want Enugu State to miss out on such huge funds. We want to be at the epicentre, not just as consumers, but as producers,” he stated.

OPSN had earlier endorsed Mbah and called for improved power supply, expressing the need for the sustained implementation of harmonised taxes and levies, continuous improvement in access to land, affordable financing, and technical support for SMEs, among others.

Speaking, the Convener, OPSN, Enugu, and Chairman, NECA South East Zone, Dr. Ugochukwu Chime, expressed the group’s satisfaction with the Mbah administration, citing security, improved infrastructure, transportation, hospitality, social services, and other enablers of business and investment.

“We particularly commend your administration’s significant investments in security, because we all know that business only goes to secure and peaceful destinations, urban renewal, and city expansion developments.

“The construction and rehabilitation of strategic road networks have improved mobility, enhanced access to commercial centres, and stimulated economic activities across the state,” Chime stated.

Chime said Mbah, by his exploits, had made it imperative for more private sector players to join politics.

“Organised Private Sector is particularly proud that you are one of its distinguished products. Your private sector background, where practical and common-sense decisions prevail, has enabled you to appreciate the critical role of businesses in economic growth, job creation, and improved welfare of the people,” he said.

Other speakers, including Dr. Ifeanyi Okoye of NECA; founder of Peace Group of Companies, Dr. Maduka Onyishi; ECCIMA President, Engr. Nnanyelugo Onyemelukwe; ECCIMA Vice President, Princess Egbo; and Chairman of Wilson Group, Chief William Agbo, lauded Mbah for turning the state’s fortunes around as a centre for business and investment.

Some of the members used the opportunity to present several made in Enugu products to the governor.

Continue Reading

News

Many feared killed as gunmen attack mourners at mass burial in Plateau

Published

on

Gunmen kill Governor’s aide, wife during night raid
Spread the love

Many persons are feared killed, with several others wounded, after gunmen attacked mourners during a mass burial in Nding Fan District of Barkin Ladi Local Government Area of Plateau State.

The victims were said to have been attending the burial of seven persons killed in an earlier attack on the community.

The Incident, according to sources, occurred on Wednesday afternoon as villagers gathered to conduct the burial rites.

It was gathered that the assailants, who had been observing the ceremony from surrounding hills, suddenly descended on the community and opened fire on mourners as they were digging graves.

An eyewitness, a journalist, Masara Kim, told our correspondent via telephone that about five communities were experiencing simultaneous attacks by the gunmen.

He said the mourners had barely dug a shallow grave when the attackers struck, forcing them to hurriedly bury the bodies and flee for safety.

Maduka College Advert

According to him, “There is an ongoing, massive attack on communities south of Jos. More than five communities are under simultaneous assault. While we were at the burial site, the attackers emerged from the hills and began shooting.”

He added that a man was shot dead in his presence, noting that local defenders, armed with hunting rifles and locally made weapons, were overwhelmed by the attackers.

Kim said he narrowly escaped, adding that many residents fled the community as the gunmen advanced, while the exact casualty figure could not be ascertained due to the chaotic situation.

When contacted, the publicity secretary of the Berom Youth Moulders Association, Rwang Tengwong, described the situation as “terrible”, adding that efforts were underway to rescue persons trapped in the area.

Continue Reading

News

Wife cuts off husband’s penis after he insisted his previous wife moved in with them

Published

on

Spread the love

A man’s penis has been permanently compromised after his wife allegedly chopped it off with a kitchen knife because he demanded that his other wife move into their family home.

The couple, of Bangladeshi heritage, had recently relocated to the town of Angri in Campania, Italy, where the husband had found a house spacious enough to accommodate both his wives.

Both bigamy and polygamy are illegal in Italy, but the practice persists within certain communities.

The 35-year-old second wife was against the idea of cohabiting with the first wife, triggering the disagreement. She then allegedly castrated him when he was taking a nap after lunch.

The husband awoke screaming in agony as blood poured from the injury. He stumbled onto a first-floor balcony and cried out for assistance.

Two women passing by heard his screams, entered the property, and managed to stem the bleeding until paramedics arrived.

Maduka College Advert

They reportedly put the detached penis on ice in the hope it could be reattached.

However, surgeons stated reattachment was impossible as the organ was “permanently compromised.”

Upon arrival, police discovered the wife wandering around in a state of shock, allegedly still holding the knife. She was arrested and charged with attempted murder.

The police are also probing whether the husband was drugged before the assault.

A team of Carabinieri police, led by Commander Gianfranco Albanese and local prosecutor Gianluca Caputo, are still investigating the alleged knife attack.

Angelo Pisani, a lawyer and founder of an organisation that campaigns against domestic abuse, commented on the case and said: “This is a case of unprecedented violence.”

The domestic abuse lawyer added: “This kind of violence must always be condemned, regardless of who committed it.”

Continue Reading

Trending

Maduka College Advert