BonjourATous:


Thank you

A lot of high and low moments...at this point, we need to hear it every hour . Happy new month!

isn't it obvious that the retard that responded to you is trolling? The spokesperson for NNPC has responded that they filled the vacant positions for EH internally yet you chose to discard it and believe in a troll that has no affiliation to NNPC management? Wow!. I guess this is the same reasons the Nigerian politicians take us for a ride. Because we can always be gullible and continue believing in what does not make sense rationally. i mean it's been a year and 5 months plus since the GTs were contacted, hell its been over 2 years since the interview was completed. Some individuals in some organizations would already have been promoted within that period.

Best you assume this recruitment exercise is a lost cause. Else you hold on to an illusion.

Peace.

adeakin777:


isn't it obvious that the retard that responded to you is trolling? The spokesperson for NNPC has responded that they filled the vacant positions for EH internally yet you chose to discard it and believe in a troll that has no affiliation to NNPC management? Wow!. I guess this is the same reasons the Nigerian politicians take us for a ride. Because we can always be gullible and continue believing in what does not make sense rationally. i mean it's been a year and 5 months plus since the GTs were contacted, hell its been over 2 years since the interview was completed. Some individuals in some organizations would already have been promoted within that period.

Best you assume this recruitment exercise is a lost cause. Else you hold on to an illusion.

Peace.

Oga "I am not gullible", I never disregarded that some of the EH positions were filled internally. I know it is mainly the Managerial positions. Over 2 years recruitment is not ok/normal but it is not new. It has happened in Nnlg and DPR...and with the covid 19. If you want to say the recruitment is a lost cause, let it b from a reliable source not from your head. What of their official statement on Twitter or the video where the GMD talked abt the recruitment even Mr. Kenny's response to someone's comment...you want us to believe a statement that we are not sure of its source.

If I am not mistaken, before the GT was released, you were not a believer...so it's obvious you have personal issues...his post touched a nerve

BonjourATous:


Oga "I am not gullible", I never disregarded that some of the EH positions were filled internally. I know it is mainly the Managerial positions. Over 2 years recruitment is not ok/normal but it is not new. It has happened in Nnlg and DPR...and with the covid 19. If you want to say the recruitment is a lost cause, let it b from a reliable source not from your head. What of their official statement on Twitter or the video where the GMD talked abt the recruitment even Mr. Kenny's response to someone's comment...you want us to believe a statement that we are not sure of its source.

If I am not mistaken, before the GT was released, you were not a believer...so it's obvious you have personal issues...his post touched a nerve

I normally do not respond that often but let me indulge you this once. Read slowly the statement from the NNPC spokesperson culled from the guardian 'Although spokesman of the corporation, Kennie Obateru, told The Guardian that the company did not see the need to continue with the hiring of experienced hands'. Normally it is a herculean task for government A-list agency to complete a recruitment exercise meritoriously and timely, but, to think that a recruitment that has spanned 2 years where the spokesperson averred that they do not see the need to continue with the exercise and yet you hold on to hope is purely delusional. The NLNG was peculiar because of the drop in oil and there was constant communication. I know of this because i was part of that exercise. The DPR on the other hand was clearly completed, heck it was posted on their website that the exercise had been completed, yet some other delusional applicants still believed there was an imaginary second list, even those without connections were disturbing the Big Man upstairs with meaningless prayers. As it stands now, it has dawned on the delusional ones that the ship of that exercise has long sailed.

Now i'm not saying that there can't be a turn around that this exercise will be completed. But fam, it will be nigh impossible for this to turn around. I admire the courage of those who protested and i really do wish it would have an impact but unfortunately i do not think it will and that is my personal opinion on it.

Bottom line, you best move on. it keeps one focused onto the next one.

Peace

mahn....dat DPR thread was very interesting..i couldn't even understand wether dat xtruz person was trolling or was serious.....fat hr lady, saint shakur, by January, b4 christmas etc...

adeakin777:


I normally do not respond that often but let me indulge you this once. Read slowly the statement from the NNPC spokesperson culled from the guardian 'Although spokesman of the corporation, Kennie Obateru, told The Guardian that the company did not see the need to continue with the hiring of experienced hands'. Normally it is a herculean task for government A-list agency to complete a recruitment exercise meritoriously and timely, but, to think that a recruitment that has spanned 2 years where the spokesperson averred that they do not see the need to continue with the exercise and yet you hold on to hope is purely delusional. The NLNG was peculiar because of the drop in oil and there was constant communication. I know of this because i was part of that exercise. The DPR on the other hand was clearly completed, heck it was posted on their website that the exercise had been completed, yet some other delusional applicants still believed there was an imaginary second list, even those without connections were disturbing the Big Man upstairs with meaningless prayers. As it stands now, it has dawned on the delusional ones that the ship of that exercise has long sailed.

Now i'm not saying that there can't be a turn around that this exercise will be completed. But fam, it will be nigh impossible for this to turn around. I admire the courage of those who protested and i really do wish it would have an impact but unfortunately i do not think it will and that is my personal opinion on it.

Bottom line, you best move on. it keeps one focused onto the next one.

Peace

The so called statement is a statement anyone can claim he made...my point is you choose to believe this and disregard NNPC's official statement on Twitter and even the video at NAPE. DPR commenced in 2016 and was completed in 2018, the previous NNPC recruitment b4 this one started in 2010 and was completed in 2012. This one started in 2019

I'm not saying crazy things don't happen but I have a problem when people say things from their head are facts.

BonjourATous:


The so called statement is a statement anyone can claim he made...my point is you choose to believe this and disregard NNPC's official statement on Twitter and even the video at NAPE. DPR commenced in 2016 and was completed in 2018, the previous NNPC recruitment b4 this one started in 2010 and was completed in 2012. This one started in 2019

I'm not saying crazy things don't happen but I have a problem when people say things from their head are facts.

But nobody is saying things from their head here. The spokesperson for the corporation has said it in clear terms that they had no need to continue with the EH component of the recruitment. He did not say it in parables that should be subject to different interpretations. I think anyone putting so much hopes on this recruitment would be hurting themselves.

OK, it is very clear, the recruitment is over because the spokesman of the corporation, Kennie Obateru, told The Guardian that the company did not see the need to continue with the hiring of experienced hands.

So you can all move on... I think anyone that has moved on or is trying to move on, would be hurting themselves, if they keep following or viewing this thread.
The truth is that there will always be more that one view. We both have to deal with it, in a healthy manner. In as much as it is good to have plan B, I have not see anything that should make me believe that this recruitment is a lost cause...sorry I haven't seen, only that the odds are now high.

BTW, whatever the outcome is, I am fine.

BonjourATous:
OK, it is very clear, the recruitment is over because the spokesman of the corporation, Kennie Obateru, told The Guardian that the company did not see the need to continue with the hiring of experienced hands.

So you can all move on... I think anyone that has moved on or is trying to move on, would be hurting themselves, if they keep following or viewing this thread.
The truth is that there will always be more that one view. We both have to deal with it, in a healthy manner. In as much as it is good to have plan B, I have not see anything that should make me believe that this recruitment is a lost cause...sorry I haven't seen, only that the odds are now high.

BTW, whatever the outcome is, I am fine.

U don get sense finally.

vas2net:

U don get sense finally.

This comment is unnecessary pls! Nobody is really absolutely sure of what the true situation is right now.

I met with on the GTs a few days ago. He confirmed NNPC tried to delay their confirmation claiming they've not been working fully and that it was just last month they got their confirmation letters. Truth is, the pandemic was the main impediment to the EH recruitment.

Therefore, those that want to be hopeful should pls continue to be and express it outwardly as they wish. If you have lost hopes as well, pls move on quietly. No need dragging anybody or calling people names for their thoughts.

Thank You

yungmin:


This comment is unnecessary pls! Nobody is really absolutely sure of what the true situation is right now.

I met with on the GTs a few days ago. He confirmed NNPC tried to delay their confirmation claiming they've not been working fully and that it was just last month they got their confirmation letters. Truth is, the pandemic was the main impediment to the EH recruitment.

Therefore, those that want to be hopeful should pls continue to be and express it outwardly as they wish. If you have lost hopes as well, pls move on quietly. No need dragging anybody or calling people names for their thoughts.

Thank You

Your own sense is still on the way. It will get to you soon.

vas2net:

Your own sense is still on the way. It will get to you soon.

You're just a fool! You shouldn't be among the EH. You sound like a kid!

Primera Food Nigeria Limited, a Food Plant factory in Agbara, Ogun State, Nigeria is recruiting suitably qualified candidates to fill the position below:

Job Role: Production Supervisor (Male/Female)
Job Category: Permanent
Age: 25 –35 years
Job Location: Agbara, Ogun State


JOB DESCRIPTION:
• Supervise the operations of an assigned production area to ensure that volume, cost and quality standards are achieved.
• Ensure physical and workforce resources are adequate to meet the shifts production schedule.
• Manage the activities of assigned production personnel including workflow, assembly methods, and work force utilization.
• Ensuring that materials, labor and equipment are used efficiently to meet production targets.
• Directly supervise day to day activities of assigned personnel or functions.
• Adherence to current good manufacturing practice (cGMP)
• Motivate and support team members to meet set targets.
• Coach employees to maximize efficiency and effectiveness in daily operations.
• Ensures minimal waste reduction.
• Execute a mentorship approach in developing shift leads and high potential personnel.

COMPETENCIES REQUIRED:
• Strong leadership qualities
• Strong Communication Skills
• Must be able to multitask
• Good interpersonal relation and interact positively with others
• Excellent analytical thinking skills
• Good team player
• Must have ability to pay attention to details.

QUALIFICATION AND EXPERIENCE:
• Bachelor’s degree/HND in Food Technology, Management and other science related discipline.
• At least, 4 years related experience out of which he must have worked either as a Supervisor or Team Leader in a regular manufacturing environment.

HOW TO APPLY
Interested and qualified candidates should send their CV to: hr.recruitment@primerafood-nigeria.com with the position as the subject of the mail. Only qualified candidates will be contacted.

Application Deadline :10th August, 2021
(Modify) (Quote) (Report) (Share)

yungmin:


You're just a fool! You shouldn't be among the EH. You sound like a kid!

I feel your pain bro. Do accept my heart felt sympathy

Can someone please close this thread?

Primera Food Nigeria Limited, a Food Plant factory in Agbara, Ogun State, Nigeria is recruiting suitably qualified candidates to fill the position below:

Job Role: Production Manager (Male/Female)
Job Location: Agbara, Ogun State

RESPONSIBILITIES

• Plan, implement and control the production schedule based on target and objectives in accordance with the developed factory policy and key production activities.
• Implement new or improved supply chain processes
• Implement cost control programs or procedures
• Oversee, monitor and direct coordination and maintenance of production equipment
• Coordinate with other concerned departments for materials resources planning/implementation
• Maintain a cost and time effective production process with minimal waste and according to pre-set target.
• Achieve high rate of capacity utilization
• Implement applicable cost saving practices.
• Timely and accurate budgeting.
• Set up daily, monthly and yearly production plan based on sales actual plan.
• Develop and monitor the Factory Production in accordance with the key performance indicators.
• Effectively manage human and other resources to achieve production targets & continuously motivate the workforce.
• Work on new formulations for developing and improving the product line.
• Monitor plant and machinery problems, breakdowns and liase with maintenance department to resolve all issues.

COMPETENCIES REQUIRED:
• With thorough knowledge in mechanical and technical troubleshooting.
• Cost inclined while target oriented.
• Attentiveness to details.
• Problem solving, collaboration, effective communication and capacity building skills
• High level of integrity.
• High degree of leadership and management skills.
• Strong Communication Skills.
• Good interpersonal relation and interact positively with others.

REQUIREMENT

• A good degree in Food Science and Technology, Microbiology, Biochemistry, Engineering or related discipline.
• At least 5-7years of experience which must be in food industry.
• Relevant and adequate professional qualification in the manufacturing/food industry would be an added advantage.
• Have a persuasive evidence of successful management track record in the manufacturing industry.
• Working knowledge of GMP, QMS and ISO systems would be an added advantage.
• Excellent production and related IT skills.

METHOD OF APPLICATION
Interested and qualified candidates should send their Curriculum Vitae to: hr.recruitment@primerafood-nigeria.com using the job title as the subject of the mail.


Application Deadline 10th August, 2021.

yungmin:


This comment is unnecessary pls! Nobody is really absolutely sure of what the true situation is right now.

I met with on the GTs a few days ago. He confirmed NNPC tried to delay their confirmation claiming they've not been working fully and that it was just last month they got their confirmation letters. Truth is, the pandemic was the main impediment to the EH recruitment.

Therefore, those that want to be hopeful should pls continue to be and express it outwardly as they wish. If you have lost hopes as well, pls move on quietly. No need dragging anybody or calling people names for their thoughts.

Thank You

.

simplex247:
Primera Food Nigeria Limited, a Food Plant factory in Agbara, Ogun State, Nigeria is recruiting suitably qualified candidates to fill the position below:

Job Role: Production Manager (Male/Female)
Job Location: Agbara, Ogun State

RESPONSIBILITIES

• Plan, implement and control the production schedule based on target and objectives in accordance with the developed factory policy and key production activities.
• Implement new or improved supply chain processes
• Implement cost control programs or procedures
• Oversee, monitor and direct coordination and maintenance of production equipment
• Coordinate with other concerned departments for materials resources planning/implementation
• Maintain a cost and time effective production process with minimal waste and according to pre-set target.
• Achieve high rate of capacity utilization
• Implement applicable cost saving practices.
• Timely and accurate budgeting.
• Set up daily, monthly and yearly production plan based on sales actual plan.
• Develop and monitor the Factory Production in accordance with the key performance indicators.
• Effectively manage human and other resources to achieve production targets & continuously motivate the workforce.
• Work on new formulations for developing and improving the product line.
• Monitor plant and machinery problems, breakdowns and liase with maintenance department to resolve all issues.

COMPETENCIES REQUIRED:
• With thorough knowledge in mechanical and technical troubleshooting.
• Cost inclined while target oriented.
• Attentiveness to details.
• Problem solving, collaboration, effective communication and capacity building skills
• High level of integrity.
• High degree of leadership and management skills.
• Strong Communication Skills.
• Good interpersonal relation and interact positively with others.

REQUIREMENT

• A good degree in Food Science and Technology, Microbiology, Biochemistry, Engineering or related discipline.
• At least 5-7years of experience which must be in food industry.
• Relevant and adequate professional qualification in the manufacturing/food industry would be an added advantage.
• Have a persuasive evidence of successful management track record in the manufacturing industry.
• Working knowledge of GMP, QMS and ISO systems would be an added advantage.
• Excellent production and related IT skills.

METHOD OF APPLICATION
Interested and qualified candidates should send their Curriculum Vitae to: hr.recruitment@primerafood-nigeria.com using the job title as the subject of the mail.


Application Deadline 10th August, 2021.

I apologise Sir for mentioning you. I am just asking if there's any Job openings for casual workers like me. I have always been at the gate there but no hope of entry. Someone told me I have to have somebody to secure a place for me. I actually have none but I have been faithful to be there at the gate. I hope you can honour my request. You will always see me at the gate. Thanks for your assistance.

NNPC Set to Fill 19 Top Management Vacancies, May Reshuffle Existing Positions
editorAugust 9, 2021 5:20 Am
Emmanuel Addeh

The Nigerian National Petroleum Corporation (NNPC) may any time from now carry out a major exercise to fill about 19 existing vacant positions in the company, which may also see the redeployment of several top officials, following the planned shake-up.


Quoting top government sources yesterday, an online medium, The Whistler, said that some of the 19 management positions that are yet to be occupied are due to statutory retirements by some employees of the company, starting from December last year.

It stated that for instance, the position of Chief Operating Officer ( Downstream) has been vacant since December 2020 when Mrs. Lawrencia Ndupu statutorily retired from that position. Ndupu, who represented the South-east region at the top management level of the NNPC had yet to be replaced since her retirement.


The implication of this, according to the sources is that there is currently no representation from the South-east at that level of management at the NNPC, adding that the Chief Operating Officer (COO) Ventures and Business Development has been seen several times in public events acting in that position lately.

It was also gathered that replacements would be announced to fill the vacant positions left due to the retirement of the managing director of the Nigerian Gas Marketing Company(NGC) as well as the managing director of the Port Harcourt Refinery.


Similarly, the Managing Director, Petroleum Products Marketing Company (PPMC), Mr. Musa Lawal and Group General Manager, Group Public Affairs Dr. Kennie Obateru, are said to be due for retirement in September this year.

“There is going to be a massive shake-up at the NNPC following the 19 vacant positions that we now have in the corporation. You will recall that the COO Downstream, Mrs Lauretta retired since December 2020 and she is representing South-east in the NNPC management level.


“No one has replaced her yet and by implication, there is no representation from the South-east. Instead, Engineer Adeyemi Adetunji who is COO Ventures and Business Development has been seen severally in public events acting as COO Downstream.

“The MD PPMC, Musa Lawal and GGM Group Public Affairs Dr Kennie Obateru are also due for retirement sometime in September this year. Don’t forget that the MD of Nigerian Gas Marketing Company, and MD of PH Refineries have all retired without replacement.


“It is expected that someone from the SE will be promoted to COO to replace Mrs Ndupu. Some persons have been working in those positions in acting capacity,” the online medium quoted the NNPC source as saying

#BREAKING:

PRESS RELEASE

NNPC Promotes, Redeploys Senior Management

In a bid to strengthen and reposition the Nigerian National Petroleum Corporation (NNPC) towards attaining global excellence and profitability, the Management of the Corporation has announced the promotion and redeployment of some staff to fill key vacant positions.

In a statement released by the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru on Monday, Mr. Billy Okoye has been appointed the new Group Executive Director, Ventures & Business Development while Mrs. Aisha Ahmadu-Katagum has been promoted to the position of Group Executive Director, Corporate Services.

Until their new appointments, Mr. Okoye and Mrs. Ahmadu-Katagum were Group General Managers, Crude Oil Marketing Division (COMD) and Supply Chain Management Division in the Corporation, respectively.

Engr. Adeyemi Adetunji, formerly Chief Operating Officer, Business & Ventures Development, becomes the Group Executive Director, Downstream, while Mr. Mohammed Abdulkabir Ahmed, formerly Chief Operating Officer, Corporate Services, becomes the Group Executive Director, Gas & Power.

Other Chief Operating Officer positions in the Corporation have now been redesignated as Group Executive Directors (GEDs), in alignment with the rules of Company & Allied Matters Act (CAMA), preparatory to the new status of the Corporation as a Limited Liability Company, post-Petroleum Industry Bill (PIB).

The repositioning also saw the disengagement of Engr. Yusuf Usman, formerly Chief Operating Officer, Gas & Power.

The new appointments include that of Mr. Garba Deen Muhammad, who will take over from Dr. Kennie Obateru as the Group General Manager, Group Public Affairs Division of the Corporation.

Speaking on the Development, Group Managing Director of the Corporation, Mallam Mele Kyari, said the new appointments would enable the Corporation live up to the expectations of Nigerians and achieve its vision of becoming a world-class energy company of choice.

Dr. Kennie Obateru
Group General Manager
Group Public Affairs Division
Nigerian National Petroleum Corporation
NNPC Towers, Abuja.
9th August 2021

If this Promotion and Redeployment doesn't fast track the closure of EH recruitment.... Mk all of dem just getat.

Who Promotion Epp?

Bigdadson:
#BREAKING:

PRESS RELEASE

NNPC Promotes, Redeploys Senior Management

In a bid to strengthen and reposition the Nigerian National Petroleum Corporation (NNPC) towards attaining global excellence and profitability, the Management of the Corporation has announced the promotion and redeployment of some staff to fill key vacant positions.

In a statement released by the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru on Monday, Mr. Billy Okoye has been appointed the new Group Executive Director, Ventures & Business Development while Mrs. Aisha Ahmadu-Katagum has been promoted to the position of Group Executive Director, Corporate Services.

Until their new appointments, Mr. Okoye and Mrs. Ahmadu-Katagum were Group General Managers, Crude Oil Marketing Division (COMD) and Supply Chain Management Division in the Corporation, respectively.

Engr. Adeyemi Adetunji, formerly Chief Operating Officer, Business & Ventures Development, becomes the Group Executive Director, Downstream, while Mr. Mohammed Abdulkabir Ahmed, formerly Chief Operating Officer, Corporate Services, becomes the Group Executive Director, Gas & Power.

Other Chief Operating Officer positions in the Corporation have now been redesignated as Group Executive Directors (GEDs), in alignment with the rules of Company & Allied Matters Act (CAMA), preparatory to the new status of the Corporation as a Limited Liability Company, post-Petroleum Industry Bill (PIB).

The repositioning also saw the disengagement of Engr. Yusuf Usman, formerly Chief Operating Officer, Gas & Power.

The new appointments include that of Mr. Garba Deen Muhammad, who will take over from Dr. Kennie Obateru as the Group General Manager, Group Public Affairs Division of the Corporation.

Speaking on the Development, Group Managing Director of the Corporation, Mallam Mele Kyari, said the new appointments would enable the Corporation live up to the expectations of Nigerians and achieve its vision of becoming a world-class energy company of choice.

Dr. Kennie Obateru
Group General Manager
Group Public Affairs Division
Nigerian National Petroleum Corporation
NNPC Towers, Abuja.
9th August 2021

Meeeehn!! So na so 2 years plus of hoping and waiting for a ‘life changing’ job opportunity be for Naija? Hmmm. So, now that the President has signed the PIB into law, what does this mean for this recruitment exercise and the current NNPC workforce structure?

Make I even go warn all my younger ones not to ever dream of applying or working with NNPC.

May Nigeria prosper.

What You Need To Know About New Petroleum Act

With the President signing of the Petroleum Industry Bill, PIB, into law and now to be known as Petroleum Industry Act, PIA, the entire framework for doing business in the oil sector changes fundamentally. Emmanuel Addeh brings out the highlights of the new Act that will now govern operations in the sector going forward


• FG to Conclude Commercialisation of NNPC by February 2022

• Act retains 3% for host communities, 30% for frontier basins

• New law creates two regulatory agencies for oil industry

• Commission to collect rents, royalties, production share

• Downstream authority to collect gas flare from midstream

• PIA imposes 1% levy on wholesale price of petroleum products


• Corporation to retain 10% of profit oil, gas as management fee

• Oil companies to be sanctioned for understating profits, overstating losses

• New legislation repeals 10 existing laws

• BoT, executive members of host communities’ board may not be indigenes

• Oil areas to distribute funds for capital projects (75%), reserve (20%), administrative (5%)


• Bill divided into fiscal, administrative, governance and institutions as well as host communities

• Host communities’ fund to be set up within 12 months from yesterday

• All employees of NNPC deemed new staff of NNPC limited

• When incorporated, board appointments to be made by shareholders, not the president alone

• Host communities to forfeit entitlement to extent of damage in cases of vandalism


T

he new Petroleum Industry Act mandates that the Nigerian National Petroleum Corporation (NNPC) will be commercialised within the next six months, effectively transforming the national oil company into a limited liability company.

Added to that is the establishment of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which shall be responsible for the technical and commercial regulation of upstream petroleum operations.

According to the new law, the commission will ensure compliance with all applicable laws and regulations governing upstream petroleum operations in a manner to minimise waste and achieve optimal government revenue as well as promote healthy, safe, efficient and effective conduct of upstream petroleum operations.


But despite the hue and cry from some groups in the Niger Delta on the need to increase the host communities’ fund, the new Act retained three per cent of total expenditure by the oil companies for the previous year for oil-producing areas and 30 per cent of NNPC Limited’s profit oil and gas in product sharing, profit sharing and risk service contract for frontier basins exploration.

Also established is the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which shall be responsible for the technical and commercial regulation of midstream and downstream petroleum operations in the petroleum industry.

Furthermore, the NMDPR, which effectively means the extinction of the Department of Petroleum Resources (DPR) will ensure efficient, safe, effective and sustainable infrastructural development of midstream and downstream petroleum operation as well as promote healthy, safe, efficient and effective conduct of midstream and downstream petroleum.

Among others, the new body will promote a competitive market for midstream and downstream petroleum operations; promote the supply and distribution of natural gas and petroleum products and ensure the security of natural gas supply for the domestic gas market as well as ensure crude oil supply for domestic refineries.

Also to be floated is the Midstream and Downstream Gas Infrastructure Fund (MDGIF) which shall be funded from 0.5 per cent of the wholesale price of petroleum products and natural gas sold in Nigeria, which shall be collected from wholesale customers.

Other sources of funding for the new body are grants accruing from multilateral agencies, bilateral institutions and related sources dedicated partly or wholly for the development of infrastructure for midstream and downstream gas operations in Nigeria and interest payable in respect of money in the fund.

Also, monies received from gas flaring penalties by the commission for the purpose of environmental remediation and relief of the host communities of the settlor on which the penalties are levied and any other sum freely donated shall be paid into the fund.

On the commercialisation of the NNPC, it states: “The minister shall within six months from the commencement of this Act, cause to be incorporated under the Companies and Allied Matters Act, a limited liability company, which shall be called the Nigerian National Petroleum Company Limited (NNPC Limited).


“The Minister shall at the incorporation of NNPC Limited, consult with the minister of finance to determine the number and nominal value of the shares to be allotted, which shall form the initial paid-up share capital of NNPC Limited and the government shall subscribe and pay cash for the shares.

“Ownership of all shares in NNPC Limited shall be vested in the government at incorporation and held by the ministry of finance incorporated and the ministry of petroleum incorporated in equal portions on behalf of the federation and the ministry.”


The document further states that assets, interests and liabilities of NNPC not transferred to NNPC Limited or its subsidiary under subsection (1), shall remain the assets, interests and liabilities of NNPC until they become extinguished or transferred to the government in six months following the determination while the minister of finance and the attorney general of the federation shall develop a framework for the payment of the liabilities.

According to the new law: “NNPC shall cease to exist after its remaining assets, interests and liabilities other than its assets, interests and liabilities transferred to NNPC Limited or its subsidiaries under subsection (1) shall have been extinguished or transferred to the government.”


To allay the fears expressed by beneficiaries of host community funds that oil companies may continue to under-declare expenses or profits and overstate losses, the law also set out appropriate punishments for any person who makes incorrect accounts by omitting or understating any profits or overstating any losses of which he is required under the act to make accounts.

It added: “A person who prepares or causes to be prepared any incorrect schedule or statement required to be prepared under section 277 of this Act by overstating any expenditure or overstating any royalties or other sums or by omitting or understating any amounts repaid, refunded, waived or released, or gives or causes to be given any false;


“Or misleading information in relation to any matter or thing affecting his liability to hydrocarbon tax is liable to an administrative penalty of the sum of N15,000,000 or 1 per cent of the amount of tax which has been undercharged in consequence of such incorrect account.”

As part of the implementation process, the law mandated the minister to within 24 months of the effective date cause an inter agency transfer of any staff of the institutions to the commission, the authority or NNPC Limited based on skills and competence requirements of the new institutions.


It stated that every settlor shall transfer any existing host communities development project or scheme under its corporate social responsibility or memorandum of understanding or any other agreement to a host communities development trust established under the act.

“Every applicable settlor shall notify the commission or authority, as the case may be, upon completion of any transfer under subsection (1) to any one or more host communities development trusts of any of its existing host communities development projects or schemes.


“Any financial contribution made by a settlor from the effective date until the date falling 12 months after the effective date to any ongoing host communities development project or scheme in accordance with their terms, shall be deemed to constitute a contribution made by such holder or holder nominee under section 240 (2) of this act,” it stated.

It stressed that rules, orders, notices or other subsidiary legislation made under the Petroleum Act, the Petroleum Profits Tax Act and the Deep Offshore and Inland Basin Production Sharing Contract Act shall continue to have effect as if made under the corresponding provisions of the Act.


The new act further mandated each settlor through its operator to make the 3 per cent available for the host communities, with each of the trusts allowed to receive donations, gifts, grants or honoraria that are provided to such host communities development trust for the attainment of its objectives.

“Each settlor, where applicable through the operator, shall make an annual contribution to the applicable host communities development trust fund of an amount equal to 3 per cent of its actual annual operating expenditure of the preceding financial year in the upstream petroleum operations affecting the host communities for which the applicable host communities development trust fund was established, ” it said.


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EDITORIAL

CBN AND THE FALLING NAIRA VALUE
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BACKPAGE
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Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world. It is Nigeria's most authoritative news media available on all platforms for the political, business, professional and diplomatic elite and broader middle classes while serving as the meeting point of new ideas, culture and technology for the aspirationals and millennials. The newspaper is a public trust dedicated to the pursuit of truth and reason covering a range of issues from breaking news to politics, business, the markets, the arts, sports and community to the crossroads of people and society.


1'
Breaking: Inflation Falls to 17.38%
editorAugust 17, 2021 2:17 Pm
By James Emejo

The Consumer Price Index, (CPI) which measures inflation dropped to 17.38 per cent (year-on-year) in July, compared to 17.75 per cent in the preceding month, according to the National Bureau of Statistics (NBS).

The NBS however, explained that the 0.37 per cent reduction in the headline index implied that prices continued to rise in July but at a slower rate than it did in June.

It noted that prices moderated in all parameters that determined inflation during the review period.

According to the CPI report for July which was released Tuesday by the NBS, food inflation slowed to 21.03 per cent in the review period compared to 21.83 per cent in June, meaning that food prices continued to rise in July but at a slower speed than it did in June.

Core inflation, which excludes the prices of volatile agricultural produce, however increased to 13.72 per cent, up by 0.63 per cent when compared with 13.09 per cent recorded in June.

Details later…


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Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world. It is Nigeria's most authoritative news media available on all platforms for the political, business, professional and diplomatic elite and broader middle classes while serving as the meeting point of new ideas, culture and technology for the aspirationals and millennials. The newspaper is a public trust dedicated to the pursuit of truth and reason covering a range of issues from breaking news to politics, business, the markets, the arts, sports and community to the crossroads of people and society.

NNPC will cease to exist within six months.

BonjourATous:
NNPC will cease to exist within six months.

Just changing of name( NNPC LTD). The Towers will remain as it is.

Kingjobs007, pls how far...is everything still on track?

BonjourATous:
Kingjobs007, pls how far...is everything still on track?

No.

Originakalokalo:


No.

From your source?

BonjourATous:
Kingjobs007, pls how far...is everything still on track?

Yes Chief

Kingjobs007:


Yes Chief

Yes chief, we are only on course in race course TBS lagos! This thing don turn to comedy abeg

Kingjobs007:


Yes Chief

Lol. Joker