Nigeria Needs To Spend $410bn Above Normal To Deliver Transition Plan – FG

File photo of the Minister of State for Petroleum, Timipre Sylva.

 

Federal government has said that the country requires $410 billion with $10 billion per annum to address the nation’s energy constraint and policy flexibility as well as achieve Nigeria’s transition plan by 2060. 

Minister of state for Petroleum Resources, Timipre Sylva made the disclosure on Thursday at the 7th Meeting of the National Council on Hydrocarbons, themed: “Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria”.

At the meeting which held in Minna the Niger State Capital, Mr Sylva said the gathering which brings together experts and policy makers in the energy sector, was designed to discuss and review energy related issues, identify opportunities and proffers solutions to inherent problems in line with global best practices.


READ ALSO: Participate Fully In Political Activities, Obasanjo Challenges Youths


Represented by the ministry’s permanent secretary, Gebriel Tanimu Aduda, the minister noted that Nigeria is committed to achieving carbon neutrality, end energy poverty by lifting 100 million people out of poverty and drive economic growth.

He further stated that Nigeria will be one of the 50 countries to have launched its guidelines for the management of fugitive methane and greenhouse gases emissions in the upstream oil and gas sector latest this year.

According to him, the country through the Solid Minerals Development Fund is on the verge of unveiling it cutting edge technology in gold mining to eliminate harmful reagents, use of cyanide for a human and environmentally friendly practices.

Mr Sylva revealed that 34 memorandums have been received, 7 were merged while 11 were stepped down. He added that the memos were presented to the council for consideration with the knowledge that Niger State has large quantity of solid mineral resources and hydrocarbons deposit in commercial quantity.

In his remark, the Niger State Governor, Abubaekar Bello reaffirmed that the state has commercial deposits of hydrocarbons in Bida Basin, noting that this is further verified by the progressive reports and findings of the consultants from IBBU Lapai and FUT Minna.

The governor who was represented by the Secretary to the State Government, Ahmed Matane, urged the government to show more political will, he also  appealed to the relevant agencies to expedite actions on the exploration in the Bida Basin for optimal benefits.

He explained that the Niger State will provide lands for infrastructural investments, ease of doing business and adequate security in the LPG industry, adding that state tax holidays and other fiscal incentives will be provided for private sector participation, as well as developing a comprehensive Niger State energy policy among other things.

OPEC+ Cuts Nigeria’s Oil Production, FG Gives Reasons

File photo of the Minister of State for Petroleum, Timipre Sylva.

 

The Federal Government says the decision of the Organisation of Petroleum Exporting Countries (OPEC+) to cut Nigeria’s crude oil production downward by two million barrels per day was unanimous.

Minister of State Petroleum Resources, Timipre Sylva, in a statement on Tuesday, said the decision was taken by OPEC+ and its partners at their last meeting at the beginning of October.

He explained that the decision was taken for “the exclusive purpose of ensuring the long-term stability of the oil market” and to balance supply and demand.

“The decision taken by the OPEC+ during our meeting on 5th October, 2022 to voluntarily adjust crude oil production downward by two million barrels per day was unanimous. It was taken for the exclusive purpose of ensuring the long-term stability of the oil market.

“It was purely to balance supply and demand, and forestall a degeneration of the current volatile oil market to a situation where larger production cuts will be required to balance it.

READ ALSO: OPEC+ Oil Cut ‘Nothing Political’, UAE Insists

“This proactive decision was based on a thorough assessment of market conditions as OPEC plus has always been guided.”

Crude oil theft and pipeline vandals have so far impinged Nigeria’s ability to meet its oil production quota of 1.8 million barrels per day.

Sylva Commissions Solar-Powered ICT Centre In Daura, Katsina, Bags Title

The minister says the project will help deepen Nigeria’s ICT drive.

 

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has commissioned a solar-powered ICT centre at the Kalgo-Gari Government Secondary School in the Daura Local Government Area of Katsina State.

The centre, built, equipped, and donated by the Nigerian Content Development and Monitoring Board (NCDMB) is part of measures to prepare the young generation for the future as the world is going digital.

The Minister while commissioning the center on Thursday noted that the Nigerian Content Development and Monitoring Board was set up to develop local capacity and this time around focus attention on developing ICT capacity.

He explained that the facility is also equipped with learning modules through which students can learn online and internationally.

“We have done this in various places and we will continue to do it. We want to start from when people are young, to catch them young and that is why this facility is put in the middle of the school so that at this level they can grow in the knowledge of computer.

“Our problem as a country is to try to see how we can develop the young men of the country.

“And to make it sustainable, it’s powered by solar energy along with a standby generator to address the issue of power outage.

“In addition, there’s water supply, there are other educational projects going on to complement the effort of the State Government. Our future is in the hands of young men,” he stated.

READ ALSO: Police Discover Cannabis Farm In Abuja, Arrest Suspected Owner

‘A Friend, Brother’ 

The minister says the project will help deepen Nigeria’s ICT drive.

 

Meanwhile, the Minister paid a courtesy visit to the Emir of Daura, HRH Umar Faruk Umar, where the emir reserved a traditional title of “Sarkin Kudun Hausa” meaning “Emir of Southern Hausa”.

This was in recognition of his outstanding performance and contributions to Nigeria’s unity and progress. The Minister in appreciation thanked the Emir for the honour on behalf of himself and his people.

He assured to discharge his duty creditably, pledging to work together with the Hausa community in the south in the interest of Nigeria.

“Your commitment to Daura citizens, Nigeria is well known.

“There’s a growing Hausa community in the south and of course, it’s important that they know and realize that they have a friend, brother, and the leader in the south,” the minister added.

FG Has Nothing To Do With Increase In Price Of Petrol – Sylva

FILE: The Minister of State for Petroleum, Timipre Sylva speaks during an interview on Channels Television’s Newsnight on January 24, 2022.

 

The Minister of State for Petroleum Resources, Timipre Sylva, says the Federal Government is not responsible for the increase in the price of petrol across the country.

According to Sylva, the government is still subsidising petrol.

Speaking at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stakeholders’ consultation forum on regulations, Sylva said the marketers are most likely to blame.

READ ALSO: Fuel Subsidy Is Estimated At N6.72tn For 2023 – Finance Minister

“I can tell you authoritatively that we have not deregulated,” he said.

“The government is still subsidising. If there are increases in price, it is not from the government. It is probably from the marketers.

“But I will talk to the authorities to actually regulate the price. But this is not from the government. We have not deregulated.”

While the official pump price of the product is pegged at N165 per litre, many filling stations have been selling for as high as N180.

Meanwhile, petrol subsidy claims continue to skyrocket.

According to the Nigerian National Petroleum Corporation (NNPC) Limited, petrol subsidy claims reached N2.6 trillion in the first half of 2022, surpassing revenue generated from the sale of crude oil.

Sylva Blames Abuja Fuel Queues On Marketers, Absolves FG

File photo of the Minister of State for Petroleum, Timipre Sylva.

 

The Minister of State for Petroleum, Timipre Sylva, on Wednesday, absolved the Federal Government of any blame for the fuel queues in the nation’s capital, saying that marketers are responsible.

Sylva, who addressed State House correspondents after the weekly Federal Executive Council meeting, said the NNPC is in very good supply of the product.

READ ALSO: Reps Summon Sylva, Kyari, Others Over Fuel Consumption Probe

 

“Frankly, it is not a supply issue, as you can also confirm. So it’s not from us. But you know When you have an arbitrage opportunity, people will tend to take advantage of it. These are some of the fallouts of the subsidy regime,” Sylva said.

“If you look at it, there are no queues when you leave Abuja, in most places, only in the Abuja, metropolis, you continue to have these queues. So is it that there is less applied to Abuja, than to the rest of the country? It is not so. It is because if you go out of Abuja, they can afford to probably sell at higher prices.

“And I’m sure a lot of you must be buying at higher prices, but within Abuja, because of the watchful eye of the federal government, they cannot sell at those prices. So it’s not a very attractive market for them. I think these are all things that we might have to be dealing with for a while until we’re able to fully deregulate.

“But that actually is a problem it’s not a supply problem, the country is well supplied as it is. NNPC has a very good supply. So it is not a problem for us, but it is the marketers. But we are engaging the marketers and will continue to engage them. In fact, before now NATO said, Oh, because diesel prices were now going up. And of course, you know that diesel  is deregulated already.”

Although he promised continued talks with them, the minister does not guarantee that the fuel queues will dissipate any time soon.

Reps Summon Sylva, Kyari, Others Over Fuel Consumption Probe

A photo combination of NNPC GMD, Mele Kyari and the Minister of State for Petroleum, Timipre Sylva.

 

The House of Representatives has summoned the Minister of State for Petroleum, Timipre Sylva, and the Group Managing Director of the Nigerian National Petroleum Company Ltd, Mele Kyari.

Channels Television gathered that the House Committee on Fuel Consumption is summoning the officials for being absent at the public hearing of the committee.

READ ALSO: Why Nigeria Can’t Remove Fuel Subsidies Now – Lai Mohammed

Also to appear before the lawmakers are the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, the Managing Director of the Pipelines Products Marketing Company (PPMC), Mallam Isiyaku Abdullahi as well as the Permanent Secretary in the Ministry of Petroleum Resources.

The Deputy Majority Leader of the House, Peter Akpatason, represented the Speaker, Femi Gbajabiamila, at the hearing.

He said the committee members were disappointed that such critical stakeholders would choose to be absent, considering how important it is to ascertain the daily consumption to see if it corresponds with the subsidy payments.

The Speaker also expressed his worry that their absence could be seen as an attempt to frustrate the investigation.

Meanwhile, the Federal Government has explained why it cannot remove subsidies on the Premium Motor Spirit (PMS), popularly called petrol, at this time.

Minister of Communication and Culture, Lai Mohammed, who spoke during an exclusive interview with Reuters in London, said many other nations were introducing measures to help citizens cope with high oil energy prices, hence Africa’s most populous country could not be an exception.

Nigeria is Africa’s largest oil exporter but still has to import almost all its fuel needs due to a lack of refining capacity. The Federal Government shelved plans to abolish fuel subsidies earlier this year, a move that raised concerns with the International Monetary Fund (IMF).

2023: Groups Present APC Presidential Forms To Ayade, Sylva

A photo combination of Cross Rivers State Governor, Ben Ayade and Minister of State for Petroleum Resources, Timipre Sylva.
A photo combination of Cross Rivers State Governor, Ben Ayade and Minister of State for Petroleum Resources, Timipre Sylva.

 

Groups of supporters have presented the All Progressives Congress’ nomination and expression of interest forms to Cross River State Governor, Ben Ayade and Minister of State for Petroleum Resources, Timipre Sylva.

The duo become the latest APC members who have had the N100m forms purchased on their behalf by supporters.

Governor Ayade had in late April declared to run for President, saying he has received approval from President Muhammadu Buhari.

READ ALSO: Group Purchases APC Presidential Forms For Senate President Lawan

Cross River State Governor Ben Ayade speaks in Abuja on May 9, 2022, after accepting APC nomination and expression of interest forms.
Cross River State Governor Ben Ayade speaks in Abuja on May 9, 2022, after accepting APC nomination and expression of interest forms.

 

Speaking in Abuja on Monday while accepting the forms, Ayade said he has governed Cross Rivers well and can do the same for the entire country.

Minister Sylva, on the other hand, is yet to publicly signal his intention to run for President.

Cost of forms

The N100m cost of the APC presidential forms has attracted scrutiny from many Nigerians.

However, the relatively high cost has not slowed sales as the trend of supporters picking up the forms for their preferred candidates continue.

Vice President Yemi Osinbajo is one of the high-profile candidates in the race who have purchased the forms.

Others include APC Chieftain, Bola Ahmed Tinubu, Minister of Transportation, Rotimi Amaechi, and Governor of the Central Bank of Nigeria, Godwin Emeliefe.

National Chairman of the APC, Abdullahi Adamu, has said the revenues garnered from the sale of forms will help the party campaign effectively after it eventually settles for a candidate.

Adulterated Fuel: ‘There Will Be A Major Investigation,’ Says Petroleum Minister

The Minister of State for Petroleum Resources, Timipre Sylva addressed reporters in Abuja on August 17, 2021. Sodiq Adelakun/Channels Television
A file photo of the Minister of State for Petroleum Resources, Timipre Sylva addressing reporters in Abuja on August 17, 2021. Sodiq Adelakun/Channels Television.

 

The Minister of State for Petroleum, Timipre Sylva, says there will be a major investigation to unravel the cause of the unsafe quantity of methanol in petrol imported into the country.

He disclosed this on Wednesday during a media briefing after the Federal Executive Council (FEC) meeting held at the State House.

Although the minister refused to disclose the identities of the companies involved, he said they will be made known after the investigations are concluded.

“There will be a major investigation to unravel everything. We need to get to the bottom of it before we can come back to tell you what will happen to the culprits,” the minister said.

READ ALSO: Adulterated Petrol Has Been Removed From The Market – Petroleum Marketers

When asked if companies found culpable will be blacklisted, Sylva responded that the government is not in a rush to mete out any measures until the actual cause has been decoded.

Speaking concerning Nigerians whose cars were damaged after buying the fuel, the former governor said their situation will be put into consideration.

“We know that some people’s vehicles must have been damaged; that is also going to the taken into consideration in dealing with the situation,” Sylvia explained.

His comments come hours after the Federal said it has identified and subsequently dealt with what may have caused panic buying of petrol in some parts of Lagos and Abuja.

Responding to the resurgence of fuel queues in Lagos and Abuja, the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Agency, Mr. Farouk Ahmed said methanol quantity above Nigeria’s specification was discovered in a supply chain, which has since been isolated.

He explained that, while the quality control agencies of the government have swung into the action, NNPC Limited and oil marketers have been directed to ensure a robust supply of petroleum products.

Buhari Not In Support Of Fuel Subsidy Removal – Petroleum Minister

The Minister of State for Petroleum, Timipre Sylva speaks during an interview on Channels Television’s Newsnight on January 24, 2022.

 

The Minister of State for Petroleum, Timipre Sylva, says President Muhammadu Buhari is not in support of the removal of subsidy on the Premium Motor Spirit (PMS), popularly known as petrol.

Rather, he explained that the Federal Government planned to complete consultations before coming out with a clear policy direction on the matter.

“I will tell you categorically that at this moment, the complete removal of subsidy is not on our plate at all,” said Sylva during this week’s edition of Channels Television’s Newsnight.

“The President of the Federal Republic of Nigeria is not in support of removing subsidy at this time,” he said.

READ ALSO: FG To Make Transport Subsidy Payment Digitally For At Least Six Months

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, had in November last year hinted that Nigeria would effect the complete removal of fuel subsidy in June 2022 and replace them with a N5000-a-month transportation grant to the poorest Nigerians.

Amid mixed reactions over the issue, the Senate President, Ahmad Lawan, last Tuesday said President Buhari never directed the removal of fuel subsidy.


NOTE: Watch Newsnight on Channels TV at 9pm on Monday.


Sylva, on his part, explained that the President’s position in opposing fuel subsidy was predicated on its effect on citizens at the bottom of the pyramid.

He also identified some of the options the authorities were considering regarding the issue.

“We are working out the processes,” said the minister. “Of course, we all know that it is a desirable policy direction. Of course, we know that it will have some impacts on the people and that is why we are trying to work out some of those things.

“Until those details are worked out properly with (the organised) labour, and with all the stakeholders in the sector, we will not remove the subsidy. At this moment, it is not on our plate, I can tell you that.

“This is something that needs to be worked out between the Federal Government and the states because this is a federation issue. We are working with the governors to see how we can continue with this policy direction of subsidising fuel for the foreseeable future.”

Fuel Subsidy: FG Considering Autogas As Alternative Petrol, Says Sylva

President Muhammadu Buhari unveiled the National Gas Expansion Programme and National Autogas Roll-out Initiative on December 2, 2020.

 

The Federal Government is considering autogas as an alternative to the Premium Motor Spirit, popularly called petrol.

This is according to the Minister of State for Petroleum, Timipre Sylva, who stated this during an interview on Channels Television’s Newsnight amid plans by the government to remove subsidy on petrol.

He explained that Vice President Yemi Osinbajo, in his capacity as the Chairman of the National Economic Council, is also leading an effort in collaboration with state governors to discuss the government’s plans to unveil palliatives to the people.

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“So we have to sit back together to now thinking about the process that can have the least effect on the people. That is why we are thinking of a lot of options like giving them an alternative fuel which will be cheaper and that is why we are looking at autogas,” the Minister said.

“We believe that will give an alternative so that if they find PMS too expensive, then they can have an alternative. Of course, we are looking at the impact it would have on their personal income and expenditure.

“The Vice President is also leading an effort, discussing palliatives to the people. All those are the things we are discussing. We need to bring everything together before we can now come out and say look this is the package we have and this is the policy direction towards subsidy removal.”

The Federal Government had in December 2022 rolled out an autogas programme called the National Gas Expansion Programme.

The programme involves the conversion of fuel-powered cars, generators from petrol to gas. It is aimed at deepening domestic usage of natural gas in its various forms.

After the launch, the government said that vehicle owners in the country will pay N250,000 to convert their cars to autogas.

Justice Derefaka, Technical Adviser on Gas Business and Policy Implementation to Minister of State for Petroleum, Timipre Sylva, had explained that vehicle owners will have different payment plans to covert their cars to autogas.

“The cost varies,” Derefaka said during an interview on Channels Television’s Sunrise Daily. “So, in terms of cost implication, it depends on the cylinder of the vehicle and of course, for a typical SUV cylinder, it is a bit higher but on the average, it is around N200,000 to N250,000 and this is for a four-cylinder vehicle but it becomes a little bit higher for a six-cylinder SUV vehicle.”

Buhari Promises To Take Action On Cooking Gas Price Hike

Timipre Sylva

 

The Minister of State for Petroleum, Timipre Sylva, has said that President Muhammadu Buhari is aware and concerned about the hike in the price of gas and is promising action to ameliorate the situation.

He said this while addressing State House correspondents after a meeting with the President in his office where he presented CEOs of two new agencies: the Nigerian Upstream Regulatory Commission (NURC) and the Nigerian Downstream and Midstream Petroleum Regulatory Authority (NMDPRA) at the statehouse.

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The minister explained that the government has no control of the prices and rather, it is the international market that primarily determines the price of the commodity.

Sylva, however, assured Nigerians that some elements of the pricing will be adjusted internally to enable a reduction, particularly in view of the Yuletide season.

Sylva Inaugurates Committee To Implement Petroleum Industry Act

Minister of State for Petroleum Resources, Timipre Sylva, speaks at the inauguration of the Steering Committee for the Implementation of the Petroleum Industry Act (PIA) in Abuja on August 19, 2021.

 

Minister of State for Petroleum Resources, Timipre Sylva, has inaugurated the Steering Committee for the Implementation of the Petroleum Industry Act.

The inauguration ceremony held on Thursday in Abuja, a day after President Muhammadu Buhari approved the constitution of the committee with a directive to immediately commence the implementation of the PIA.

“To get us started on this all-important assignment, I hereby inaugurate the Steering Committee, as well as the Implementation Working Group/Coordinating Secretariat, and wish us all success in our collective quest to change the face of the Nigerian petroleum industry, to position it as a proactive catalyst for spurring sustainable economic growth of our beloved country,” the minister told members of the committee.

READ ALSO: NNPC Limited To Kick Off In Six Months – Sylva

“Given the timeline set by Mr President and the urgency of the implementation requirement, there is no gainsaying in the fact that total commitment to this assignment is a critical success factor.

“Undoubtedly, members of the steering committee possess the capacity to contribute to the transformation of the petroleum industry, and unlock the potentials that are replete in the entire value chain.”

Sylva urged the committee members to live up to their responsibility, saying a lot was expected of them from Nigerians and foreign stakeholders.

He stressed the need to do all that it takes to deliver on the assignment, in a manner that best achieves the collective vision for bringing the anticipated gains to the country.

According to the minister, the implementation working group/coordinating secretariat has the onerous task of developing the briefs that will be presented to the committee for consideration and approval.

He explained that the briefs would cover all the relevant subject matters contemplated by the law, including the design of the institutions, personnel movements, development of procedures and processes for the institutions, model contracts and regulations, and generally providing legal advice on implementation matters.

Sylva went on to reveal that the implementation working group/coordinating secretariat has been organised into four workstreams, to position the committee to get quality briefs.

He listed the workstreams to include legal, coordination and planning, communications and stakeholder management, as well as administration and finance.

“Each of these workstreams has distinct mandates and expected outcomes which will be presented to the steering committee for consideration and possible approval,” the minister said.

While approving the constitution of the committee, President Buhari had also directed that it has 12 months for the assignment.

He had decried that the lack of political will has hampered the growth of the industry, saying this has led to a loss of about $50 billion for the country in the last 10 years.

A lawyer, Olufemi Lijadu, is the External Legal Adviser, while the Executive Secretary of Petroleum Technology Development Fund (PTDF) will serve as Head of the Coordinating Secretariat and the Implementation Working Group.

Other members include Permanent Secretary of the Ministry of Petroleum Resources, Dr Sani Gwarzo; and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari.

Others are Executive Chairman of Federal Inland Revenue Service (FIRS), Muhammad Nami; President Buhari’s Senior Special Assistant on Natural Resources, Dr Nuhu Habib; as well as representatives of the Ministry of Justice, and the Ministry of Finance, Budget, and National Planning.