News

Senate Chides IOCs For Neglecting Petrochemicals

Published

2 years ago

February 9, 2024

The Nigerian Senate has criticised international oil companies for not investing in the petrochemical industry.

The Chairman, Senate Committee on Local Content, Natasha Akpoti-Uduaghan, said the committee would invite the international oil companies on the need to invest in petrochemicals.

Petrochemicals refer to a wide range of other products made from petroleum, including plastics, fabrics, fertilisers, paints, and medicines.

The global petrochemicals market size was valued at $619bn in 2023 and is expected to grow at a compound annual growth rate of 7.3 percent from 2024 to 2030, a report by Grand View Research has revealed.

According to a statement on Friday by the Nigerian Content Development and Monitoring Board, Akpoti-Uduaghan spoke at a meeting with the NCDMB in Abuja.

“The committee chair criticised the international oil companies in Nigeria for not investing in the petrochemical sub-sector and other associated manufacturing activities, whereas IOCs in other oil-producing jurisdictions make such investments and contribute significantly to those economies.

“She announced that the committee would invite the IOCs and other relevant agencies of government, with a view to compel the companies to create tangible value in the Nigerian economy beyond the extraction and sale of crude oil,” the statement read partly.

Akpoti-Uduaghan was quoted as saying, “We need to get them round the table and tell them what we want as a country as against watching them export crude oil only.”

She assured all that the committee would not antagonise the board and other entities under its supervision but would collaborate towards effective implementation of the board’s mandate for the benefit of Nigerians.

She had expressed concern “over the parlous state of the economy, particularly the alarming level of unemployment which has fuelled an increase in criminality”.

The Senator emphasised the need to deepen the implementation of the Nigerian Oil and Gas Industry Content Development Act, to create employment opportunities from the activities in the oil industry and catalyse other sectors of the economy.

The Kogi Central lawmaker had requested the board to submit performance reports on the implementation of the NOGICD Act, specifically on the Board’s third-party investments, capacity-building programmes, expatriate quota management and research and development, while seeking recommendations on the sections of the NOGICD Act that needs to be amended by the National Assembly.

In his comment, the Executive Secretary NCDMB, Felix Ogbe, explained that most oil conglomerates have different arms, which include the downstream companies which make such investments in the petrochemicals and linkage sub-sectors.

He, however, noted that most operating companies in Nigeria do not have such subsidiaries in the country, hinting that the board is willing to support indigenous firms that are interested in such ventures.

Ogbe said, “The board lacked the mandate to compel the IOCs to change their business model in Nigeria, but was collaborating with some oil companies to develop the Nigerian Oil and Gas Parks Scheme which is designed to manufacture oil and gas equipment and components as well as other manufacturing and research and technology programmes”.

News

Trump’s Airstrikes: Halt Military Cooperation With US Immediately – Sheikh Gumi Tells Tinubu Govt

Published

7 hours ago

December 26, 2025

Editor

Islamic cleric, Sheikh Ahmad Gumi has called on the Federal Government to immediately halt all military cooperation with the United States following reported US airstrikes.

Gumi warned that American involvement could worsen Nigeria’s security challenges and undermine national sovereignty.

Gumi made the call in a statement posted on his Facebook page on Friday.

He said while Islam permits the fight against terrorism, such actions should only be carried out by what he described as “clean hands,” arguing that the United States lacks the moral authority to lead such efforts because of its global military record.

According to the cleric, Nigeria made a mistake by allowing foreign powers to play a role in its counterterrorism operations, insisting that “terrorists do not truly fight terrorists” and that such interventions often result in civilian casualties and hidden political motives.

Gumi warned that allowing Nigeria to become a theatre of war would attract anti-US forces into the country, further destabilising it.

He also cautioned that US involvement, particularly under claims of protecting Christians, could polarise the country along religious lines.

The cleric further argued that airstrikes alone cannot defeat terrorism, stressing that effective counterterrorism requires strong ground operations, which he said Nigeria has enough personnel to carry out if properly organised.

“This is the mistake Nigeria has made. Terrorists don’t fight terrorists in truth; they may only kill innocent people and have ulterior motives behind the drama of fighting ‘terror’.

“As a principle, no nation should allow its land to be a theater of war. And no nation should allow its neighbors to be their enemies.

“If Nigeria wants military assistance, China, Turkey, and Pakistan can do the job effectively,” part of his statement reads.

News

Shehu Sani Reacts To Trump’s Military Strikes In Nigeria

Published

7 hours ago

December 26, 2025

Editor

Former lawmaker, senator Shehu Sani, has reacted to reports of United States military strikes on terrorist targets in Nigeria’s North-West, saying foreign powers cannot permanently handle the country’s security challenges.

Sani made the remarks on Friday via his X handle while responding to a post by the United States Africa Command, AFRICOM, which indicated that the strikes were carried out in coordination with Nigerian authorities.

According to him, if the reported strikes were indeed a joint operation with Nigerian security agencies, then such action was justifiable, given the threat posed by terrorist groups in the region.

He described terrorists operating in parts of northern Nigeria as “cancerous cells,” stressing that they survive through violence and should be confronted decisively.

Sani also dismissed narratives suggesting that terrorist attacks target only one religious group, describing such claims as false and misleading.

He said: “If actually, the military strikes against the terrorists targets in the North Western part of Nigeria were a joint operation with the ‘Nigerian Authorities’ as posted by the US AFRICOM on their verified X handle, then it’s a conscionable action.

“Terrorists have become cancerous cells in our part of the country.They live by the sword.The narrative that the evil terrorists only targets one faith, remains absolutely false and misleading.

“Again, the ultimate security and peace in our country lies with ourselves and not with the US or any foreign power. They can complimentarily or unilaterally strike, but they can’t eternally fight our battles.”