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Buhari advises MTN to offer quality service

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President Muhammadu Buhari Friday at State House Abuja urged the MTN Group to make available top of the range service to its Nigerian subscribers, Presidential spokesman Femi Adesina disclosed in a statement.

Speaking when he received in audience members of the board of MTN Group led by its president and Chief Executive Officer, Ralph Mupita, President Buhari said: “I congratulate you on your appointment as the Group President of MTN.  I wish you all the best. Nigeria is your most lucrative market in Africa, Asia and the Middle East, as well as the source of a third of the income of the entire MTN Group.  As such, we urge you to offer top-of-the-range and affordable service to Nigerians.

“As we seek to make broadband widely available and affordable, we urge MTN to continue to support our efforts by expanding high quality connectivity to Nigerians in unserved and underserved areas.”

The President also called on the group to support the implementation of the National Policy for the Promotion of Indigenous Content in the Nigerian Telecommunications Sector.

“I recently unveiled and launched the National Policy for the Promotion of Indigenous Content in the Nigerian Telecommunications Sector.  I call on MTN to support the implementation of this Policy and train and engage more Nigerians in your company.

“In particular, we would like you to continue to support our efforts by improving the Quality of Service and enabling a downward price review of the cost of data and other services, in view of your large market in Nigeria. We also urge you to step up your Corporate Social Responsibility programs and support Research and Development that will enhance your services in Nigeria.”

He assured his visitors that his administration was doing everything possible to make Nigeria investor-friendly by addressing identified challenges:

“We are implementing a number of policies and programmes to ensure that institutions like MTN have a conducive environment for doing business in Nigeria.  Our massive jump in the Global Ease of Doing Business Ranking is proof that our efforts are yielding positive results.

“We have identified and addressed the key challenges that affected the growth of the digital economy sector.  One of such challenges was the high Right of Way costs and another was the vandalisation of critical national infrastructure. 

“I am happy to note that the Right of Way charges have now been pegged at a maximum of N145/linear metre and I have given directives for the protection of Critical National Infrastructure and this has addressed the issue of vandalisation of such infrastructure. Service providers should always appreciate the effort of government and not undermine it.”

President Buhari expressed his delight that the Information and Communications Technology sector was doing very well despite the global economic downturn.

According to him, “the Information and Communications Technology sector was the fastest growing sector in both the fourth quarter of 2020 and the entire year 2020, based on the Report by the National Bureau of Statistics. The sector’s 14.70% double digit growth rate played a principal role in supporting our country to exit the recession triggered by the COVID-19 pandemic. 

“The growth rate of the sector exceeded four times the next fastest growing sector of Q4 2020, which had a growth rate of 3.42%.  This is truly commendable.”


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Economy /Business

NNPC records crude oil, gas sales of $219.75m in May

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Posts ₦295.72bn from Sale of Petroleum Products
The Nigerian National Petroleum Corporation (NNPC) says it recorded a total crude oil and gas export sales of $219.75m in May 2021, representing 180.29% increase on sales from the previous month of April 2021, Garba Deen Muhammad, Group General Manager, Group Public Affairs Division revealed in a statement.


This is contained in the May 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Mr. Garba Deen Muhammad.
According to the report, crude oil export sales contributed $181.19m (82.45%) of the dollar transactions compared with $4.22 million contribution in the previous month, while the export gas sales component stood at $38.56million in May 2021.


The report also showed that between May 2020 and May 2021, the Corporation exported crude oil and gas worth $1.64billion.
In the gas sector, the report showed that natural gas production in the month under review increased by 6.19% at 222.23billion cubic feet (bcf) compared with output in the previous month, translating to an average production of 7,177.53million standard cubic feet (mmscf) of gas per day.


For the period May 2020 to May 2021, a total of 2,898.34bcf of gas was produced representing an average daily production of 7,322.94mmscf during the period.
Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 60.94%, 20.04% and 18.99% respectively.


Out of the 216.29bcf of gas produced in May 2021, a total of 133.56bcf was commercialized, consisting of 44.02bcf and 89.54bcf for the domestic and export markets respectively.
This translates to a total supply of 1,419.83mmscfd of gas to the domestic market and 2,893.66mmscfd to the export market for the month.


This implies that 61.75% of the average daily gas produced was commercialized while the balance of 38.25% was either re-injected, used as upstream fuel or flared.
In the Downstream sector, the report indicates that the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, posted a total sum of ₦295.72bn from the sales of petroleum products in the month of May 2021 compared with ₦220.13billion sales in April 2021.


Furthermore, total revenues generated from the sales of petroleum products for the period of May 2020 to May 2021 stood at ₦2.345trillion where Premium Motor Spirit (PMS) contributed about 99.61% of the total sales with a value of ₦2.336trillion.
In terms of volume, the figure translates to a total of 2.241billion litres of white products sold and distributed by PPMC in the month of May 2021 compared with 1.673billion litres in the month of April 2021.
Total sales of petroleum products for the period May 2020 to May 2021 stood at 18.651billion litres and PMS accounted for 99.69% of total volume.


In May 2021, 64 pipeline points were vandalized representing 39.13% increase from the 46 points recorded in April 2021. The Port Harcourt area accounted for 65% and Mosimi and Kaduna Areas accounted for 30% and 5% respectively of the vandalized points.
NNPC in collaboration with the local communities and other stakeholders continuously strive to reduce and eventually eliminate this menace.
The 70th edition of the NNPC MFOR highlights the Corporation’s activities for the period of May 2020 to May 2021.



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Federal government to incorporate NNPC board in six months

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President Muhammadu Buhari
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President Muhammadu Buhari said on Sunday he had appointed a board for the NNPC and directed that it should be incorporated within six months, a move that could allow it to sell shares in the future.

The President signed the petroleum bill into law last month which has been in the works for nearly two decades, aiming to overhaul the sector and turn the state-owned oil company into a private firm.

The new oil law requires NNPC to be incorporated within six months, Buhari said in a statement, appointing Ifeanyi Ararume as NNPC chairman and its current Chief Executive Mele Kyari to lead the firm.

Kyari has said NNPC could consider an initial public offering (IPO) within three years. The incorporation could pave the way for NNPC to sell shares.

Buhari said last month that NNPC made its first profit in 44 years in 2020.

Source:(Global World News)


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Nigerian President approves incorporation Of NNPC, appoints board members

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By Goodluck Ikiebe

President Muhammadu Buhari has directed that the Nigerian National Petroleum Company Limited be incorporated.

He also approved the appointment of the Board and Management of the NNPC Limited with Senator Ifeanyi Ararume as Chairman.

A statement by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, in Abuja on Sunday, says, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, was appointed Chief Executive Officer.

The statement said that the president acted in accordance with the Petroleum Industry Act 2021.

The statement read, “President Muhammadu Buhari, in his capacity as Minister of Petroleum Resources, has directed the incorporation of the Nigerian National Petroleum Company Limited.

“This is in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of commencement of the Act in consultation with the Minister of Finance on the nominal shares of the Company.

“The Group Managing Director of the NNPC, Mr Mele Kolo Kyari, has, therefore, been directed to take necessary steps to ensure that the incorporation of the NNPC Limited is consistent with the provisions of the PIA 2021.

“Also, by the power vested in him under Section 59(2) of the PIA 2021, President Buhari has approved the appointment of the Board and Management of the NNPC Limited, with effect from the date of incorporation of the Company.

“Chairman of the Board is Senator Ifeanyi Ararume, while Mele Kolo Kyari and Umar I. Ajiya are Chief Executive Officer, and Chief Financial Officer, respectively.

“Other Board Members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure (South West).


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