₦airaland Forum

Praxis758:
I would have preferred Wale Edun to be the minister of Finance.

Pls, is Ribadu’s role as special adviser on security same thing as National Security Adviser?

franchasofficia:
To be honest, Tinubu is making some bold steps in the right direction.


He ought to suspend NNPC GMD Kyari too.


Well done Tinubu, I support you on this and other moves like the Electricity Bill

Tinubu’s plans to double Nigeria’s Crude Production, raise $17.4 bn through sell down Nigeria’s newly inaugurated President, Bola Tinubu ‘s administration announced ambitious programmes and targets for Nigeria’s energy industry, citing a target of 4 million barrels per day production capacity by 2030 and also 12bcf/d Gas Production Capacity from 3.5bcf/d of Gas production capacity today.

They said this can be done by Mandating the NNPCL and NUPRC/NMDPRA to close out outstanding divestments, Strip NNPCL of policy-making roles and sell down NNPCL’s joint ventures to a minority position and develop an operating model that eliminates cash calls with targeted raise of $17.4 billion.

This was disclosed in the report by the Energy & Natural Resources subcommittees of the Bola Tinubu’s Advisory Council, proposing changes to enable growth in Nigeria’s Energy & Natural Resources Sectors viewed by Nairametrics.

Energy Vision 2030

According to the report, Nigeria is currently producing 3.5bcd/d of Gas production capacity and 1.4 Mbps of oil production capacity,2,500kta Petrochemicals Capacity.

The forecasted target for 2030 includes milestones of 12bcf/d Gas Production Capacity, 4mmbpd Oil Production Capacity and 7,500kta Petrochemicals Capacity
Present Challenges

The report noted that to hit those targets, Nigeria’s oil and gas sector must address its current challenges, restore, grow, and sustain production to deliver economic growth

They listed Highlights of present economic and sector challenges, which are:

“$70 billion worth of investments lost in the petroleum industry since 2011 also due to the absence of the PIA.”

“ Insecurity is a major sector challenge. $46.16 billion was lost to crude oil theft between 2009 and 2020

“$10.70 billion lost annually to PMS subsidy and inefficiencies associated with the purchase, distribution, and sale of PMS.”

“Governance and regulatory concerns have eroded investor confidence, diverting private capital needed for the development of critical oil and gas infrastructure.

“Cumulatively, these have reduced the energy sector’s contribution to economic growth and deprived citizens of the necessary infrastructure and social amenities required for improving living standards.

NNPC Reforms and Plan Outline

The Committee recommends that Nigeria’s energy must restore, grow, and sustain production through three horizons, which would include Head-hunting competent, tested, reform-focused leaders in NNPCL ensuring its function as a commercial entity per PIA; paying taxes and profit to the Federation Account, also Strip NNPCL of policy-making roles, sell down assets and keep NCDMB within its Act mandate.

Article Summary

Ambitious Targets: Nigeria’s President Tinubu aims to reach 4 million barrels per day of oil and 12 billion cubic feet per day of gas production capacity by 2030.
Challenges: The energy sector faces lost investments, insecurity, fuel subsidy inefficiencies, governance concerns, and infrastructure limitations.

Reforms and Plan: The proposed plan includes reforms, divestments, policy changes, regulatory improvements, and the development of greenfield projects to achieve the targets.

kcnwaigbo:
Of course it can stop swearing in or ultimately kick him out of office if he is illegally sworn in

07kjb:
Apart from Lagos State which other state in the south west is more developed than Abia state
Federal GOVERNMENT build LAGOS

jchioma:


The "in-going" president 's'elect and his 1st Lady.

Enjoy your vacation and come back to face the tribunal case with ya full chest. Nothing to fear. Good thing Nigerians are willing to abide by a just and lawful decision of the courts. We move.


Wahala for who carry Nigerian politicians' matter for head.

BrotherShade:
😎

Now I know the reason why North and South West don't want Igbos to go. South South and South East are the two Regions feeding Nigeria 😎

post=122239906:
No state in your region can be compare to Anambra State that is 100% developing by Igbos, State that was raised down to zero now 4th largest economy in Nigeria

Justiceleague1:
He said nnamdi kanu asked protesters to attack barracks!!!!!

This proves these people are old agbayas and noise makers.

I'm not Igbo but one day,these coneheaded structures will get the attention they need so badly from the Igbos..

misano:
So how is Lagos balling nah? Edo and Lagos are practically same in terms of development. Seriously, Edo has a better Government hospital than Lagos currently. Hope U know?

Ogbuefi2020:
No SW state government has constructed a befitting airport