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Why Tinubu Signed Executive Orders On Gas, Energy – Aide

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The Special Adviser to the President on Energy, Mrs. Olu Verheijen, has given reasons why President Bola Ahmed Tinubu signed Executive Orders to transform the gas and energy sectors of the economy, submitting that gas remains the best option for Nigeria’s attainment of energy stability.

The presidential aide, who addressed the media in Abuja on Friday, pointed out that the steps taken by the president was to make gas readily available to Nigerians at affordable rates for all purposes and reduce dependence on petrol and diesel.

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Mrs. Verheijen said: “Our ambitions to accelerate our economic growth and diversify the economy for the benefit of all Nigerians require timely, credible, clear and consistent policy. We are faced with a revenue crisis which is impacting all Nigerians. To urgently address this, President Bola Tinubu is actively seeking ways to grow revenue and forex to stabilize our economy and currency. The oil and gas sector is critical to our ability to do so. However, our current oil and gas production and investment levels falls significantly short of our potential.

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“Since 2016, Nigeria has only accounted for only four percent four percent of Africa’s total oil and gas investments, despite possessing 38 percent of the continent’s hydrocarbon reserves. A society is not rich because of its resources but because of what it does with those resources. President Bola Ahmed Tinubu is determined to reverse this trend and take decisive steps to ensure to a conducive business climate and reposition Nigeria as a preferred investment destination for oil and gas sector,” she explained.

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The energy adviser said that it was in a bid to reverse the negative tendencies in the sector that the president issued a directive to streamline and clarify the scope of two regulators in the petroleum sectors and to provide certainty and create a conducive business environment for the players.

She pointed out that consequent upon the directive, the TNP pipeline, which had been repeatedly vandalized, is now enjoying improved uptime and doubled its availability, resulting in increased liquids of over 200,000 barrels/day being transported over the last six months and increasing the availability of NLNG Trains 1-6 from 57 percent in 2023 to 70 percent in Q1 2024.

The adviser said the president had also introduced fiscal incentives to deepen Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) penetration all aimed at easing the impact of fuel subsidies on transportation cost, enabling the displacement of PMS/Diesel and contributing to stabilising the price of cooking gas in the market and support the transition to clean cooking.

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The presidential aide explained that the Fiscal Incentives for Non-Associated Gas (NAG), Midstream and Deepwater Oil and Gas Developments is aimed at facilitating the monetization of Nigeria’s extensive oil and gas resources.

She said: “For Gas, 76 percent of our gas reserves, remain undeveloped. This explains why, despite possessing one of the largest gas reserves globally, we lack sufficient gas to meet our domestic needs for industry, for power and for cooking. The fiscal incentives introduced will attract the much-needed investments to enhance energy security, catalyze economic activity, attract essential foreign exchange, and promote job creation.

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“The President has issued directives to reduce contracting timelines and project delivery. Benchmarking and analysis revealed that the contracting cycle takes up to 36 months. This Directive should have the effect of compressing this cycle to less than 6 months in line with global averages. This will expedite the delivery of oil and gas products to the market and enhance overall value for the country.

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“Local Content Practice Reform: This Directive seeks to ensure that local content requirements are implemented in a manner that does not impede investments or the cost competitiveness of oil and gas projects. This Directive aims to reduce the cost premium of operating in Nigeria, presently averaging at 40 percent. We anticipate significant benefits from this reform, including the development of local companies’ capacity, thereby generating additional business opportunities, job creation and boosting economic growth.

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On how the new policies would be implemented for effective results, the presidential aide, explained that the assignments had been shared among different levels of government agencies to be followed up by her office.

Under the arrangement, she said, the Minister of Finance/Co-coordinating Minister of the Economy will develop and propose amendments to introduce fiscal incentives for deep-water developments into legislation while the Federal Inland Revenue Service (FIRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will issue guidelines on the implementation of the fiscal incentives.

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PHOTOS: Peace Restored In Delta Community As Council Boss, Takeme, Wades In

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Tuomo, a riverine community in Delta State’s Burutu Local Government Area, is experiencing renewed calm following decisive intervention by local authorities to settle a heated leadership crisis.

On Monday, Burutu LGA Chairman, Dr. Julius Takeme, led a peace delegation to the area, spearheading reconciliation discussions and reinforcing the government’s commitment to long-term stability.

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Dr. Takeme highlighted his administration’s resolve to implement Governor Sheriff Oborevwori’s broader peace and security strategy for Burutu LGA.

Dr. Julius Takeme, Chairman, Burutu LG during the meeting on Monday, 30 June, 2025

Addressing the main source of discord—the controversial selection process for a new Amananawei (traditional ruler)—he emphasized the need for transparent and lawful resolution to avoid further division within the community.

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“The council has zero tolerance for lawlessness or abuse of power,” Dr. Takeme declared, warning against intimidation, violence, or any form of extrajudicial detention.

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A cross section of community people during the peace/reconciliation meeting on Monday, 30 June,2025.

In direct remarks to Tuomo Community Chairman, Mr. Edonyaibo Morentei Warebi and the newly confirmed Amananawei, Chief Arebebe Ebiyemi, he stressed the responsibility of leadership to uphold legality and promote inclusiveness.

“Leadership should be anchored on the rule of law, not on threats or coercion,” he told them, urging both leaders to unite the community and fulfill their electoral commitments. He further warned against any mishandling of the reconciliation process, assuring residents that the administration remained fully invested in protecting lives and fostering peace.

The chairman was accompanied by a high-level delegation that included the Nigeria Police Area Commander for Burutu, ACP Redengha Timpa, whose on-the-ground presence was vital in maintaining order and preventing renewed conflict. Senior officials from the local government also joined the mission, demonstrating a coordinated approach to crisis management.

A cross section of community women during the peace/reconciliation meeting on Monday, 30 June,2025.

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During his address, Dr. Takeme commended the police for their professionalism and praised ACP Timpa’s continuous engagement as a key factor in defusing tensions and restoring a sense of security among residents.

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In response, Chief Arebebe Ebiyemi delivered a vote of thanks, acknowledging the chairman’s consistent intervention and pledging to work tirelessly for peace and unity. Community Chairman Mr. Warebi promised a leadership style grounded in inclusiveness and dialogue, describing this period as an opportunity to rebuild community trust and heal divisions.

Chief Ebiyemi further assured the council of his readiness to collaborate with all stakeholders in promoting a more harmonious and united Tuomo.

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JUST IN: Dangote Refinery Slashes Petrol Price

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The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, popularly known as petrol, from N880 to N840 per litre.

Spokesman for the Dangote Group, Anthony Chiejina, confirmed the price adjustment to The PUNCH on Monday night, saying the new rate took effect on June 30.

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PMS price has been reduced from N880 to N840 per litre effective 30th June,” Chiejina said.

 

READ ALSO: BREAKING: Again, Dangote Refinery Cuts Petrol Price

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Recall that the Dangote refinery hiked the price of petrol to N880 as tension escalated during the 12-day crisis between Israel and Iran, raising the price of crude oil to almost $80 per barrel.

The PUNCH earlier reported that marketers anticipated that there would be a new price regime from Monday.

Dangote’s partners like MRS, Heyden and AP are expected to adjust their pump prices soon.

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Ondo Confirms Petitions Seeking Coroner’s Inquest Into Akeredolu’s Death

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Ondo State Attorney General and Commissioner for Justice, Dr. Olukayode Ajulo, on Monday confirmed receipt of petitions demanding a formal coroner’s inquest into the death of former Governor Oluwarotimi Akeredolu.

In a statement shared with The PUNCH, Ajulo declared that the public has every right under the Coroners Law of Ondo State to demand clarity in cases where foul play is suspected or questions linger.

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It is not out of place for citizens to demand its invocation when there are legitimate concerns.

“The Attorney General is duty-bound to act in accordance with the law once such concerns are raised by members of the public,” he stated.

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According to Ajulo, the Ministry of Justice has received multiple petitions, including from professional bodies and residents of the late governor’s hometown, urging his office to investigate what they described as troubling inconsistencies surrounding Akeredolu’s death.

Ajulo disclosed, “We have received petitions from groups both within and outside the state.

“Let me be clear: due process will be followed. The law is there to serve the people and ensure that truth and justice prevail.”

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He noted that while emotions are running high, no individual will be presumed guilty, and neither will the process be derailed by sentiment or political interference.

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If invitations or arrests need to be made, the process will not deviate from doing the needful,” he declared.

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Ajulo clarified that decisions such as inspecting the governor’s remains or summoning individuals fall squarely under the discretion of the Coroner Judge.

The law will be allowed to take its course,” he emphasized.

Calling for calm and restraint, the Attorney General urged all stakeholders to approach the matter with a “deep sense of responsibility” to the legacy of the late governor and the peace of the state.

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We must approach this issue with civility, dignity, and a deep sense of responsibility to the legacy of the late Governor and the peace of the state,” he said.

Reaffirming the stance of the state’s leadership under Governor Lucky Aiyedatiwa, Ajulo wrote, “No one is above the law, and no one is beneath its protection. “Where the law provides a remedy, the government of Governor Aiyedatiwa will not be found wanting.”

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Until his death, Akeredolu was a two-term Governor of Ondo State and former President of the Nigerian Bar Association.

Reports from the state government stated that he died on December 27, 2023, at 67, after a prolonged battle with prostate cancer.

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