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Gabon Pip Into Future With New Hydrocarbons Code

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An African country, Gabon, has pipped into the future of oil and gas with a new hydrocarbons code.

The onset of the COVID-19 pandemic dampened global demand for oil and natural gas, disrupted the flow of capital, and slashed expansion plans across the hydrocarbons industry.

As a result, licensing rounds in many African countries have suffered from a lack of investor interest.

Despite these challenges, Gabon has emerged as a preferred destination for energy investors and majors due to investor-friendly reforms epitomized by the new Hydrocarbons Code introduced in 2019.

Hailed as a new dawn for investors, the new code quickly attracted private sector interest as an unprecedented 12 new oil production-sharing deals were signed in the weeks following the rollout of the new regulations. Malaysia’s state-owned Petronas was among the first energy majors to step up, acquiring exploration rights to two offshore blocks that authorities had previously failed to auction in 2014. Backed by US-based private equity firm Carlyle Group, Assala Gabon also bagged licenses for three exploration blocks. Meanwhile, China National Offshore Oil Corporation (CNOOC) raised its stake in two offshore blocks from 25% to 100% as it bought out Shell’s share in the venture. CNOOC has also announced plans to invest a further $30 million in exploration activities in the country.

The heightened interest in Gabon is largely attributable to the deregulation of its hydrocarbons sector, which is a core aim of its recently enacted reforms. The maximum limit for state participation in production sharing contracts (PSCs) has been reduced from 20% to 10%. Similarly, the state’s share of the profit from natural gas exploration activities has also been limited to 10%.

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Besides providing a quicker path to profitability for prospective investors in both offshore and onshore ventures, the reform also reduces their financial burden and allows them greater control over operations through a range of fiscal incentives. The prevalent corporation tax in the country is 35% but has been cut to zero in the case of the hydrocarbon industry. State royalties for the sector have also seen sizable reductions from around 15% to as low as 2% for offshore exploration and drilling activities. Certain axes on onshore mining activities have also been lowered.

Due to these and other reforms, cost recovery has improved significantly, including from 75% to 90% for offshore fields. In the case of shallow water oil and gas fields, this ratio has increased from 65% to as high as 80% with the introduction of the new code. Coupled with the reduction in state royalties, experts believe these measures have lifted the valuation of Gabonese oil and gas reserves by around 40% for current and prospective investors because international oil companies are now able to retain a larger proportion of profits and earn a higher return on investments.

Concurrently, authorities are also expediting the collection of seismic and well data to arm potential operators with the information they need to make their investment decisions.

The economy has remained heavily reliant on the oil industry for government revenues and exports, of which oil represents up to 80% of the total. But its output has been waning for years and some industry giants have exited the country. With its attractive new fiscal incentives and a liberalized market, Gabon is hoping to reverse this decline while also propelling the natural gas sector, which is a centerpiece of the country’s economic strategy.

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Shocking Video: Bandits Conduct Eid Prayers In Kaduna Forest

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In a startling turn of events, a video has surfaced online showing a group of armed bandits conducting Eid prayers deep within the forests of Kaduna State, Nigeria.

The footage, which has sparked widespread alarm, was shared by counter-insurgency expert Zagazola Makama on his account on Tuesday, April 1, 2025.

According to reports, the armed groups gathered in at least two distinct locations Maidaro, Sabon Birni, and East Kaduna, within the Dogon Dawa Forest.

The bandits armed with a variety of sophisticated weapons. In addition to carrying automatic rifles, the bandits were seen equipped with drones and mobile phones, suggesting an alarming level of coordination and access to technology.

Security analysts, including Makama, have expressed deep concern over the implications of this gathering. Tagging both the Nigerian Army and the Defence Headquarters (DHQ) in his post, Makama emphasised the urgent need for strategic countermeasures against these criminal elements.

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APC Youth Group Counters Jaji’s Claims Against Matawalle

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The National Youth Vanguard of Nigeria’s ruling All Progressives Congress (APC) has rejected allegations made by Honourable Aminu Sani Jaji, who accused the Minister of State for Defence, Bello Muhammed Matawalle, of orchestrating claims of anti-party activities against him.

In a statement issued on Saturday, the group’s National Publicity Secretary, Dr Adeniyi Wale, described Jaji’s accusations as “baseless” and an attempt to distract from his own political manoeuvres.

“Jaji has long positioned himself as a loyal APC member and a unifying force within the party, but his actions suggest otherwise. His political moves appear more self-serving than focused on party unity,” Wale said.

The APC Vanguard emphasised that Nigerians deserve transparent and accountable leaders rather than those who, it said, manipulate public trust for personal gain. The group also questioned Jaji’s credibility, citing what it described as a pattern of inconsistency in his political engagements.

“The remarks made by Jaji not only lack substantiation but also raise concerns about his reliability and judgment,” the statement read. “Leadership is not merely about holding a position of power; it is about demonstrating qualities that inspire trust and confidence among the people.”

The group commended Minister Matawalle for his efforts in strengthening national security and promoting peace. It said his leadership had contributed significantly to fostering unity and improving community relations across the country.

“Minister Matawalle exemplifies the qualities of effective leadership. Under his stewardship, significant progress has been made in enhancing national security and community relations,” the statement said.

The APC Vanguard further criticised Jaji’s leadership approach, accusing him of lacking the foresight and responsibility required for credible governance.

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“This pattern of inconsistency not only weakens the integrity of his decisions but also erodes the confidence of party members and stakeholders who seek dependable representation,” Wale added.

The group reaffirmed its support for Matawalle and urged APC members to remain focused on unity and national progress while rejecting divisive rhetoric that could undermine the party’s strength.

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Two brothers Launch Sardaunan Ikulu Fans Foundation, Sponsor WAEC Registration For 50 vulnerable Students

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By Israel Bulus, Kaduna

In a significant effort to promote education, two brothers have launched the Sardaunan Ikulu Fans Foundation, sponsoring the West African Examinations Council (WAEC) registration for 50 vulnerable students in Kamaru Ikulu Ward, Zango-Kataf Local Government Area of Kaduna State.

Speaking at the launch on Tuesday, Yusuf Ismail Ashafa, popularly known as Sardaunan Ikulu, urged the beneficiaries to remain dedicated to their studies and strive for academic excellence. He assured them that the foundation would continue to support outstanding students by facilitating their admission into higher institutions.

Ashafa also called on parents to play an active role in motivating their children to focus on education, emphasizing that their success would contribute to a brighter future for the community.

Meanwhile, Ashafa, who played a crucial role in the emergence of Engr. Bege Gaiya Joseph as the Executive Chairman of Zango-Kataf Local Government Area, expressed deep appreciation for Joseph and his brother, Reuben Richman Bissla, for sponsoring the students’ WAEC registration in his honor.

He pledged to build on these efforts, ensuring continued support for students’ education as a means of fostering societal development.

In his remarks, the co-sponsor, Engr. Joseph Bege Gaiya, popularly known as Lordbeckson, disclosed that the initiative was aimed at improving the education of the most vulnerable students for the betterment of society.

“I am one of the beneficiaries of the goodwill of Sardaunan Ikulu. If he had wanted to become the Council Chairman, he would have been, but he decided to push me forward, and today I am the Council Chairman through his mentorship,” he stated.

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He urged the beneficiaries to consider themselves fortunate and to take full advantage of the opportunity by studying hard to achieve excellent results.

“With the establishment of the Federal University of Applied Sciences in Kachia, we must ensure that our students pursue science courses. We cannot afford to have a Federal University in our region and yet have our children unable to gain admission to study science-related fields,” he added.

The initiative has been widely commended as a timely intervention, helping underprivileged students overcome financial barriers to education.

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