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Why IOCs Are Divesting From Nigeria — Tony Elumelu

Published

12 months ago

August 11, 2024

Editor

Nigerian businessman, Tony Elumelu, has said oil theft largely contributed to the reasons International Oil Companies (IOCs) are divesting their interests from Nigeria to other countries.

Elumelu stated this in an interview published by the Financial Times on Friday.

According to him, the government and security agents in Nigeria should be able expose those responsible for stealing the country’s crude oil.

His recent outburst follows that of 2022 when he tweeted about how the country lost a huge amount of its crude oil to oil thieves.

“How can we be losing over 95 per cent of oil production to thieves? Look at the Bonny Terminal which should be receiving over 200,000 barrels of crude oil daily. Instead, it receives less than 3,000 barrels, leading the operator Shell to declare force majeure.

“It is clear that the reason Nigeria is unable to meet its OPEC production quota is not because of low investment but because of theft, pure and simple!

“Meanwhile, oil-producing countries are smiling as their foreign reserves are rising. What is Nigeria’s problem? We need to hold our leaders more accountable!” the founder of Heirs Holdings tweeted in 2022.

However, speaking with Financial Times, Elumelu said oil thieves still take away 18 per cent of crude from his field.

“42,000 barrels of crude are pumped out daily. Theft still takes away about 18 per cent of production,” he stated.

Asked who was behind the theft, he replied, “This is oil theft; we’re not talking about stealing a bottle of Coke you can put in your pocket. The government should know; they should tell us.

“Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”

He recalled how the previous administration of Muhammadu Buhari, allegedly stopped him from acquiring an oilfield.

He disclosed that Heirs Holdings had been looking to purchase the oilfield since 2017, having raised $2.5 billion to purchase a different one.

But in a twist, he claimed that former President Buhari and his late Chief of Staff, Abba Kyari, blocked the deal.

In May, the Chief Executive, of Nigeria Upstream Petroleum Regulatory Commission, Gbenga Komolafe, during an industry dialogue on divestments by IOCs in Abuja, said international oil companies including Shell Petroleum Development Company, Nigeria Agip Oil Company, Mobil Producing Nigeria Unlimited, and Equinor were set to divest their investments in 26 oil blocks in Nigeria to indigenous firms.

He said, “A total of 26 blocks are proposed to be divested. These blocks have an estimated total reserve of 8.211 million barrels of oil, 2,699 million barrels of condensate, 44,110 billion cubic feet of associated gas and 46,604 billion cubic feet of non-associated gas. This is a significant contribution to the nation’s hydrocarbon resources.

“Additionally, these blocks contain P3 reserves estimated at 5,557 million barrels of oil, 1,221 million barrels of condensate, 14,296 billion cubic feet of associated gas and 13,518 billion cubic feet of non-Associated Gas.

“It is worth noting that a substantial part of the P3 reserves is located in or near producing assets. This means that a competent successor could easily mature them to 2P reserves.”

The NUPRC boss further stated that the current average production from these blocks was 346,290 barrels per day.

Providing a breakdown of this figure, Komolafe stated that the average oil production from NAOC was 28,018 bpd; MPNU, 159,378 bpd; Equinor, 36,155 bpd; and SPDC, 122,739 bpd.

“But the technical production potential is much higher – standing at 643,054 barrels (NAOC -147,481 bpd, MPNU – 244,268 bpd, Equinor – 39,203 bpd, and SPDC -212,102 bpd).

“These blocks have the potential to significantly boost our national production, which would benefit all stakeholders,” he said.

News

UNICEF Advocates Six Months Maternity Leave From Working Mothers In Bauchi

Published

4 hours ago

August 4, 2025

Editor

The United Nations Children’s Fund (UNICEF) has called on the Bauchi state government to initiate a six months paid maternity leave to working mothers in the state.

Dr Nuzhat Rafique, UNICEF’s Bauchi Chief of Field Office, stated this in a news conference in Bauchi on Tuesday to market the 2025 breastfeeding week.

According to her, the six months maternity leave would help the mothers to initiate the six months exclusive breastfeeding for their children and help in improving their health status in general.

“We really need the state government, the health system to play their roles to support the mothers.

“If the state government has a policy for six months paid maternity leave, that would play a huge role in the better nutritional status of children and initiation of exclusive six months breastfeeding for the mothers.

“Staying with the child automatically ensures better care and hygiene of the child, making them free from diarrhea which is one of the major causes of malnutrition,” she said.

Rafique added that unless women were fully supported, it would be difficult for them to do the right things like initiate breastfeeding on time, continue exclusive breastfeeding for six months, and initiate complementary breastfeeding till 24 months.

She, however, called on the state government to also come up with breastfeeding corners for working mothers to feed their children after resumption from the six months maternity leave.

Rafique said that if mothers didn’t have a good private place to feed their children, it would be difficult for them to continue feeding by working, performing and contributing towards the state’s progress and the country at large.

“These are the foundation for having a healthy, intelligent, productive next generation.

“There is a formula we need to promote which is one, six and 24.

“One means that the first hour of the baby must be initiated with breastfeeding, six means that a child must be exclusively breastfed for a good six months and then the initiation of complementary feeding along with the continuation of breastfeeding till 24 months,” she explained.

Earlier speaking, Mrs Philomena Irene, UNICEF’s Nutrition Specialist in Bauchi, revealed that over 15 states have extended paid maternity leave to working mothers across the country like Kebbi, Borno, Kaduna, Plateau among others.

“We want the media to help us amplify the benefits of breast milk, the benefits of breastfeeding both to the mother, the child and even the society at large,” she said.

On his part, Mr Abubakar Sale, the Bauchi state Nutrition Officer, appreciated UNICEF for supporting the state in terms of improving the healthy living of pregnant women and children, not only on nutrition but other aspects of health.

“The government is trying its best to see to the improvement in especially exclusive breastfeeding and other nutrition indicators in the state.

“We are doing our part together with other partners and media practitioners are very important to amplify or inform the members of the society the importance of exclusive breastfeeding so that in our next survey, we will be able to improve,” he said.

News

Tinubu Gives D’Tigress $100,000 Each, Flats, National Honour

Published

5 hours ago

August 4, 2025

Editor

President Bola Tinubu has honoured Nigeria’s national women’s basketball team, D’Tigress, with a reward package that includes $100,000 for each player, $50,000 for every member of the 11-man coaching and technical crew.

Tinubu also rewarded all team members and staff with a three-bedroom flat at the Renewed Hope Estate.

In addition, the President conferred on the players and their technical crew the prestigious national honour of Officer of the Order of the Niger.

This was announced by Vice President Kashim Shettima at the presidential reception in their honour at the State House Banquet hall, Abuja.

The triumphant D’Tigress alongside their officials, were warmly welcomed by First Lady Oluremi Tinubu, supported by the wife of the Vice President, Nana Shettima, at the New Banquet Hall in the Presidential Villa at 5:05 pm.

On behalf of President Bola Tinubu, Shettima received the team in recognition of their outstanding achievement.

Also in attendance at the reception were Chief of Staff to the President, Femi Gbajabiamila; Chairman of the Senate Committee on Youths and Sports Development, Garba Maidoki; and Chairman of the House Committee on Sports, Kabiru Amadou.

The D’Tigress arrived after clinching their historic fifth consecutive AfroBasket title, outplaying Mali 78–64 in the final held at the Palais des Sports de Treichville in Abidjan, Côte d’Ivoire.

This win marks their seventh overall championship, reinforcing their supremacy in African women’s basketball.

The ceremony at the Presidential Villa mirrors a similar reception President Tinubu hosted a week earlier for the national female football team, the Super Falcons, who recently secured their tenth WAFCON title in Rabat, Morocco.

Tinubu’s remarks, delivered by Shettima at the reception noted, “Beyond being ambassadors of our nation and symbols of excellence, you have reminded us all of the power of sports to unite a diverse nation. Your victory is a testament to what we can achieve when we work together. You have brought home not just a trophy, but valuable lessons for all Nigerians.

“It is a great honour, on behalf of President Bola Ahmed Tinubu GCFR, to welcome our formidable D’Tigress to the State House. Once again, you are continental champions and now the top African team to qualify for the 2026 FIBA Women’s World Cup pre-qualifying tournament. You conquered Africa with a score of 78 to 64—showcasing not just tactical skill, but remarkable determination and resilience. The entire nation stands behind you with pride and support.

“My dear daughters, you faced challenges bravely, especially in the final quarter, responding not with panic but with poise. When you wore the green and white, it was more than just a uniform—you wore it with purpose, and now you wear the crown of African basketball for the fifth consecutive time.”

The President hailed Rena Wakama’s strength and inspiring young girls in the country.

“Coach Rena Wakama, you embody the evolution of leadership in Nigerian sports. Your quiet strength and remarkable achievements have shattered ceilings and inspired countless young girls across Nigeria. You truly deserve your accolades as the best coach in Africa and beyond.

“To Amy Okonkwo, the tournament’s Most Valuable Player, and Ezinne Kalu, the top scorer in the final, your brilliance lifted the whole team, but most importantly, you played for Nigeria and made us all proud.

“Let us reflect on one profound truth: Nigerian women have never failed the nation in sports. From the Super Falcons on the world stage, to record-breakers on the track, and now a basketball dynasty, our women have consistently been a source of pride and have proven that where preparation meets opportunity, Nigerian excellence prevails.”

Tinubu said the administration is prioritizing sports as a crucial driver of national development and economic growth, viewing it as more than entertainment but also infrastructure, education, diplomacy, and a tool for youth employment and transformation.

He also recognised the National Sports Commission, led by Mallam Alabi, for its efforts in athlete welfare, institutional reform, grassroots support, and performance-driven development, with visible positive results.

“Special appreciation goes to the National Sports Commission, under Mallam Alabi, for renewed focus on athlete welfare, institutional reform, grassroots support, and performance-based development. The results are evident, and we are proud of you. The Nigerian Basketball Federation, led by Malam Ahmadu Musa Kida, also deserves recognition for consistent team development and dedication to Nigeria’s sporting glory.

“Our government will ensure that D’Tigress, their technical team, and sports leadership in Nigeria are appropriately recognized and rewarded. You have made us proud, and we will stand by you as you prepare for the global stage.

“To all Nigerian youth, let the story of D’Tigress inspire you. Greatness stems from hard work, discipline, and belief. Nigeria belongs to those who dare to dream and are willing to give their all to realize those dreams.

“D’Tigress: you are champions, role models, pathfinders, and true daughters of this land. It is my honor and privilege, on behalf of President Tinubu, to announce national honors for the team, coach, and technical staff; $100,000 for each player; $50,000 for the coach and technical team; and more rewards to come.

“This is true leadership—recognizing and rewarding those who have excelled for our nation. May God bless you all, may God bless Nigerian sports, and may God bless the Federal Republic of Nigeria,” he concluded.

News

Step-by-step Guide For Checking 2025 WASSCE Results

Published

5 hours ago

August 4, 2025

Editor

Following the release of the 2025 West African Senior School Certificate Examination results on Monday, the West African Examinations Council has provided a step-by-step guide to help candidates access their results online.

To check your results, candidates are required to visit the official result portal at http://waecdirect.org and follow the instructions carefully.

Here is the step-by-step guide for checking 2025 WASSCE results.

Enter your 10-digit WAEC Examination Number.
(This is your 7-Digit centre number followed by your 3-digit candidate number eg. 4123456789).
For examination year < 1999, enter your 8-digit WAEC Examination Number.
(This is your 5-Digit centre number followed by your 3-digit candidate number eg. 19865001)
Enter the 4 digits of your Examination Year eg. 2002
Select the Type of Examination
Enter the e-PIN Voucher Number
Enter the Personal Identification Number (PIN) on your e-PIN
Click Submit and wait for the results window to come up