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PIA To Unlock Investments In Nigeria’s Oil And Gas Sector – Sylva

The Minister of State Petroleum Resources, Chief Timipre Sylva, has said that the desire to surmount the challenges bedeviling the oil and gas sector led to the enactment of the Petroleum Industry Act (PIA).
Speaking at the Nigeria International Economic Partnership Forum, in New York, on Wednesday, with the theme: “Nigeria’s Oil and Gas Sector: Reforms, Results and the Road Ahead”, Sylva said the desire of the President Muhammadu Buhari’s government to inject life into the sector hitherto characterized by fiscal and operational challenges led to making proactive reforms in the sector a priority.
The minister said the enactment of the Petroleum Industry Act (PIA) on August 16, 2022 was a “watershed moment for the nation, the industry and all stakeholders alike, signaling the beginning of a more conducive environment for investment, output, industrial and national growth, while also addressing legitimate grievances of resource host-communities most impacted by resource extraction operations”.
Sylva said the “PIA 2021, at full implementation, will create massive investment opportunities, improve transparency, attract investors, and reposition the Nigerian Oil and Gas industry for sustainable growth,” urging investors “to capitalize on the sustainable incentives provided by the PIA 2021 to invest in the oil and gas industry in Nigeria” with no future regret.
The minister told the gathering that the “PIA 2021 has established a legal, governance, regulatory, and fiscal framework for the petroleum industry, host community development, and associated matters” adding that “it provides fiscal certainty, improves regulations and incentives for investment, including up to ten-year tax vacations, while guaranteeing better take for both government and private investors, thereby balancing rewards with risk”.
READ ALSO: PIA: FG Considers First Set Of Regulations For Oil Industry
The minister who said the PIA has set the foundation for a sustainable growth in the sector with the establishment of the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reassured the international investors of government’s commitment in the sector.
“This administration remains committed to ensure a full implementation of these carefully conceived reforms to foster efficiency and attract investments and development of supporting infrastructure along the oil and gas value chain as embedded in our policy aspirations for the sector.
“The government has taken the necessary steps to sustainably implement and operationalize the PIA 2021 within the timelines stipulated in the Act. To this end, the government has inaugurated the steering committee, which I chair, responsible for PIA implementation immediately after the PIA was signed into law,” he further stated.
He noted that the commitment of the Nigerian government to tackle the challenges in the oil and gas sector is a clear move “to reform the industry in order to build a robust, thriving and resilient economic backbone for domestic growth, expansion and consolidation in the era of the global energy transition, and also in a post covid world”.
Reflecting on the theme of the conference “Nigeria’s Oil and Gas Sector: Reforms, Results and the Road Ahead”, Sylva said the theme resonates the aspirations and commitment of President Buhari’s government to reform the sector in order to make it pivot for industrial diversification, economic growth and sustainable development in Nigeria.
News
Nigeria Army Alone Cannot Defeat Bandits — Sheikh Gumi

Islamic cleric Sheikh Ahmad Gumi has said the Nigerian military cannot defeat bandit groups through force, arguing that dialogue remains the only path to resolving insecurity in the northwest and other regions.
In an interview with the BBC, Gumi stated that modern armies worldwide struggle against guerrilla fighters, and Nigeria is no exception.
“But even the military says that in dealing with this civil unrest and criminality, only 25% is kinetic action; the rest depends on the government, politics, and local communities. The military cannot do everything,” he said. “Where have you ever seen the military defeat guerrilla fighters? Nowhere.”
His comments come as President Bola Tinubu’s administration introduces sweeping security reforms, including changes in military leadership and a nationwide security emergency aimed at tackling violent groups responsible for kidnappings, extortion and rural attacks.
READ ALSO:Gumi Reacts As Saudi Bars Him From Hajj
Addressing accusations of maintaining ties with bandit leaders, Gumi said he has had no contact with them since 2021, when the federal government formally designated the groups as terrorists. “I never went there alone,” he said.
“It was in 2021 when I was trying to see how we could bring them together. But unfortunately, the government at the time, the federal government, was not interested. They declared them terrorists, and since that time we have completely disengaged from all contact with them.”
Despite criticism that his advocacy emboldens armed groups, Gumi maintained that negotiation with non-state actors is a global practice. “When they say we don’t negotiate with terrorists, I don’t know where they got that from,” he said. “It is not in the Bible, it is not in the Quran. America had an office negotiating with the Taliban in Qatar. Everyone negotiates with outlaws if it will stop bloodshed.”
He described the armed groups as largely “Fulani herdsmen” engaged in what he called an “existential war” linked to threats to their traditional livelihoods of cattle rearing. “They want to exist. That is their life.
READ ALSO:Insecurity: What Sheikh Gumi Told Me After Visiting Bandits Hideouts — Obasanjo
They know where to graze and how to care for their cattle,” he said, adding that the crisis has grown from farmer–herder tensions into widespread criminality.
Gumi has long faced public backlash for his engagements with bandits and for remarks such as his earlier claim that kidnapping schoolchildren is a “lesser evil” than killing soldiers.
Meanwhile, Gumi, in the same interview, also restated his view that the abduction of schoolchildren by armed groups constitutes a “lesser evil” than attacks on Nigerian soldiers, while emphasising that both acts are unacceptable.
“I think part of what I said then is correct and part of it wrong,” Gumi said, referring to his controversial 2021 statement.
“Saying kidnapping children is a lesser evil than killing soldiers, definitely it is lesser. But all of them are evil. All evils are not the same.”
News
How France Helped Benin Foil Coup Detat

France helped the authorities in Benin thwart a coup attempt at the weekend, an aide to President Emmanuel Macron said Tuesday, revealing a French role in a regional effort that foiled the latest bid to stage a putsch in West Africa.
Macron led a “coordination effort” by speaking with key regional leaders, the aide, asking not to be named, told reporters, two days after Sunday’s failed coup bid.
France — at the request of the Beninese authorities — provided assistance “in terms of surveillance, observation and logistical support” to the Benin armed forces, the aide added.
Further details on the nature of the assistance were not immediately available.
A group of soldiers on Sunday took over Benin’s national television station and announced that President Patrice Talon had been deposed.
READ ALSO:
But loyalist army forces ultimately defeated the attempted putsch with the help of neighbouring Nigeria, which carried out military strikes on Cotonou and deployed troops.
West Africa has endured a sequence of coups in recent years that have severely eroded French influence and presence in what were French colonies until independence.
Mali saw coups in 2020 and 2021, followed by Burkina Faso in 2022 and then Niger in 2023. French forces that had been deployed in these countries for an anti-jihadist operation were consequently forced to withdraw.
A successful putsch in Benin, also a former French colony, would have been seen as a new blow to the standing of Paris and Macron in the region.
Guinea-Bissau, a former Portuguese colony, was meanwhile rocked by a coup in November after elections which led to military authorities taking over.
– ‘Caused serious concern’ –
READ ALSO:
On Sunday, Macron spoke with Talon as well as the leaders of top regional power Nigeria and Sierra Leone, which holds the presidency of West African regional bloc ECOWAS, the Elysee aide said.
The situation in Benin “caused serious concern for the president (Macron), who unequivocally condemned this attempt at destabilisation, which fortunately failed”, said the aide.
ECOWAS has said troops from Ghana, Ivory Coast, Nigeria and Sierra Leone were being deployed to Benin to help the government “preserve constitutional order”.
“Our community is in a state of emergency,” Omar Alieu Touray, president of the Economic Community of West African States (ECOWAS) said on Tuesday, highlighting the jihadist threat in the region as well as coups.
The bloc had threatened intervention during Niger’s 2023 coup that deposed president Mohamed Bazoum — an ally of Macron — but ultimately did not act.
France also did not carry out any intervention against the Niger coup.
“France has offered its full political support to ECOWAS, which made a very significant effort this weekend,” said the aide.
READ ALSO:
At least a dozen plotters had been arrested and all hostages, including high-ranking officers, had been released by Monday, according to loyalist military sources.
Talon made his own television appearance late Sunday, assuring the country that the situation was “completely under control”.
Talon, 67, is due to hand over the reins of power in April after the maximum-allowed two terms leading Benin, which in recent years has been hit by jihadist violence in the north.
On Tuesday, former Beninese president Thomas Boni Yayi, whose opposition Democrats party has been excluded from next year’s presidential elections, condemned the failed coup.
“I condemn most vigorously and strongly condemn this bloody and shameful attack on our country,” said Boni Yayi, a former chairman of the African Union who served as Benin’s president from 2006 to 2016.
The transfer of state power “responds to a single cardinal and unconditional principle: that of the ballot box, that of the people, that of free and transparent elections”, Boni Yayi added in a video posted on Facebook.
(AFP)
News
Reps Panel Grills TCN Officials Over Poor Grid Stability

The House of Representatives Ad-Hoc Committee investigating multi-billion-naira power sector reforms on Tuesday interrogated officials of the Transmission Company of Nigeria (TCN), exposing fresh gaps between Nigeria’s installed power capacity and the electricity actually delivered to homes and industries.
Appearing before the committee chaired by Hon. Ibrahim Aliyu, TCN Managing Director, Dr. Sule Ahmad Abdulaziz, dismissed widely circulated claims that Nigeria currently generates 13,000 megawatts of electricity. He stressed that the figure reflects installed capacity—not what the national grid has ever produced.
“The highest ever generated this year was 5,801MW,” Abdulaziz said. “Nigeria has never produced 13,000MW on the national grid. That number is installed capacity, not generated capacity.”
He explained that until April 2024, the National Control Centre responsible for daily generation and dispatch records was under TCN’s direct supervision, giving the company access to “accurate and verifiable” data.
READ ALSO:Collapsed National Grid Restored – TCN
Responding to scrutiny from committee member Hon. Abubakar Fulata, who questioned why only about 6,000MW is typically wheeled despite supposedly higher available generation, Abdulaziz insisted TCN had never failed in transmission.
“Our transmission capacity today is 8,600MW,” he stated. “At no time has power been generated that TCN could not evacuate. Anyone claiming otherwise should produce the data.”
On the company’s financial health, TCN’s Executive Director of Finance told lawmakers the company is weighed down by massive debts owed by electricity distribution companies (DisCos), revealing: N217 billion in electricity subsidy debt (Jan 2015–Dec 2020) taken over by the Federal Government
N450 billion owed by DisCos from Jan 2021 to date.
Clarifying controversies around grid instability, a senior TCN system operations official said the company recorded 11 grid collapses, contrary to the 22–23 often quoted.
Giving a breakdown of causes, he explained that six collapses were caused by generation issues, including gas shortages, four linked to vandalism of transmission towers, leading to sudden loss of load, one triggered by distribution network failures, often due to rainfall-induced feeder trips.
READ ALSO:Blackout Looms As Vandals, Again, Attack Transmission Line – TCN
He emphasised that all three segments generation, transmission and distribution can trigger system collapse, adding that the Nigerian Electricity Regulatory Commission (NERC), with Central Bank support, had implemented Service Level Agreement (SLA) interventions to address systemic bottlenecks.
TCN officials further disclosed the company has over 100 ongoing transmission projects, many of which are 65%–90% complete but stalled for lack of funding.
“Power infrastructure cannot be energised at 99%. It must be 100% complete,” an official noted.
“If outstanding debts are paid, we can finish priority projects and strengthen the grid.”
He added that TCN aims to expand wheeling capacity to 10,000MW by March next year through network upgrades and simulation-based grid optimisation.
Committee chairman Hon. Ibrahim Aliyu said the presentations had clarified earlier misconceptions about TCN’s role in the sector’s failures but expressed concern over the slow expansion of critical infrastructure, pledging the parliament intervention to address the anomaly in due course.
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