National
FG To Implement Policy Compelling IOCs To Drill Or Drop Inactive Oil Wells
Heineken Lokpobiri, minister of state for petroleum resources, says the federal government plans to commence implementing the drill-or-drop provisions of the Petroleum Industry Act (PIA).
Section 94 of the PIA gives operators a period of three years to begin oil production or relinquish the assets to the federal government.
Speaking during the Cross Industry Group (CIG) meeting held on Tuesday in Florence, Italy, Lokpobiri said it is in the best interest of the country that all inactive wells go to work.
He said the federal government, under the leadership of President Bola Tinubu, has provided every necessary incentive to ensure international oil companies (IOCs) in Nigeria run smoothly and profitably.
“Now, it is imperative for these industry players to match the government’s efforts with increased investment by announcing final investment decisions (FIDs),” he said.
Furthermore, Lokpobiri discussed “the challenges, expectations, and measures to enhance the sector’s contributions towards domestic energy needs and regional expansion across Sub-Saharan Africa”.
He emphasised that while IOCs have highlighted engineering, procurement, and construction (EPC) contractors as a challenge, “EPCs will not come unless they see strong commitments from industry players”.
“The government has done its part to provide the requisite and investment-friendly fiscals, the ball is now in the court of the IOCs and other operators to make strategic investment decisions that will drive increased production and sustainability in the sector,” he said.
“We must also recognise that domestic crude supply is essential to national energy security. The best solution to this challenge lies in increasing production, which will ensure a balance between domestic supply obligations and external commitments.”
The minister further urged industry players to explore collaborative measures, such as shared resources for contiguous assets and the release of underutilised assets to operators ready to invest in production.
Police authorities have called on the organisers of a nationwide protest billed for April 7, 2025, to shelve the plan.
The Take-It-Back (TIB) movement had scheduled a nationwide protest for Monday, April 7, 2025, citing several national issues.
However, in a statement on Sunday, the spokesman of the Nigeria Police Force (NPF), Muyiwa Adejobi, described the protest as ill-timed, especially as it coincided with the National Police Day celebration.
“In line with best global practices adopted by nations in celebrating the achievements of its Police institution, the Nigerian Government has taken the bull by the horn by declaring every April 7 as National Police Day,” the police statement read.
“The rationale behind staging a nationwide protest on the same day is however questionable and perceived to be a deliberate attempt and unpatriotic act that is capable of rubbishing and maligning the image of the Nigeria Police and the nation as a whole. The Nigeria Police Force hereby advises the organizers to shelve this planned protest as it is ill-timed and mischievous.”
According to the Nigeria Police Force, the organisers should instead give room for dialogue with the government.
“The Nigeria Police Force under the leadership of the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D., NPM, while reaffirming the commitment of the NPF to adequately carrying out its mandate in accordance with the Law and respect for rights of citizens hereby urges all the organizers of the planned protest as well as individuals who intend to join the protest to pursue dialogue by engaging the proper institution of government to press home their demands,” the police said.
A longlist of notable politicians including former Vice President Atiku Abubakar and ex-presidential candidate of the Labour Party (LP) Peter Obi are in talks to join the Social Democratic Party (SDP).
This is according to the SDP presidential candidate in the 2023 election Adewole Adebayo.
Adebayo said Atiku and Obi’s men are in talks for their principals to team up with the SDP, which recently welcomed a former Kaduna State governor and chieftain of the ruling All Progressives Congress (SDP) into its fold.
“People are joining my party, and we are welcoming them. You can see how active I am in welcoming them. The only little issue we have with some of them is to change the culture where if you have not been in an environment where rules are taken seriously,” the SDP chieftain said on Channels Television’s Sunday Politics.
“Some of them are doing some Boy Scouts, black market operations, we are dealing with that. But we welcome them into the party. All these people you have mentioned, El-Rufai, Atiku Abubakar, even former Governor Peter Obi are coming. A lot of people are coming, and we will welcome them.”
When he was asked to clarify if Obi, a former Anambra State governor, is joining the SDP, Adebayo said, “Supposedly, until somebody joins, we don’t know. But people have told me, and the Financial Secretary (SDP) has also informed me, that they are talking. So we will welcome everybody.
“Surely, when we come in, and we don’t become a tower of Babel; if we come in, follow the rules and allow one person to emerge transparently, clearly, without cheating, without criminality the way we did our convention in 2022, people applauded us transparently, no court case, no crisis, no allegations.
“If they can stick to our culture and follow the way we do in the SDP and produce a good alternative to Nigerians, we are going to manifestly defeat the APC and retire President Tinubu to Lagos or wherever he chooses in Nigeria.”
Obi, who enjoys the backing of millions of Nigerian youths, came third in the last presidential election after polling about six million votes.
Atiku was second in the poll won by the APC’s Bola Tinubu.
Despite suggestions to the contrary, Obi has repeatedly said he remains in LP, the party that powered his 2023 presidential ambition.
The National Drug Law Enforcement Agency (NDLEA) says its operatives have intercepted cocaine hidden inside the walls of several suitcases.
NDLEA’s Director of Media and Advocacy, Femi Babafemi, disclosed this in a post on Sunday, attaching the videos of the seized contraband on X.
He decried a situation whereby the smugglers went to extreme lengths, factory-fitting the hard drugs within the luggage with surgical precision.
“Narco-trend update: Strewing the walls of suitcases, in factory fitting precision, with cocaine, must have taken lot of efforts and resources but at the end #ndlea_nigeria officers still uncovered all as revealed in these videos that captured the latest seizure by #ndlea,” the statement read.
According to the video released by the agency, officers were slicing through suitcase linings to remove the hidden cocaine.