DPR to leverage SeRAS for new oil, gas investments

February 23, 2021

 4948     3540

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.

 

Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.SeRAS, which is one of the five units of the Department’s National Oil and Gas Excellence Centre (NOGEC) launched by President Muhammadu Buhari early in the year, is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain.

The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.

He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.

In his words: “If it is not safe, it cannot generate revenue and if the revenue has to be constant, it has to be safe. This is why we have to ensure all workers across the value chain whether working offshore and onshore, whether they are working for exploration and production, marketing or refining.“The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be.

“The oil and gas industry is like the engine room for the economic activities in Nigeria as we bring much of the money. If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk our nation and we are rewriting the history of the country.”

The Acting Coordinator, Lagos State Zonal Office, the National Emergency Management Agency (NEMA), Ibrahim Farinloye, said the flag-off was the first in the oil and gas sector, describing the move as a major support in search and rescue.“There have been wide gaps in the oil and gas industry in terms of emergency response. The SeRAS is a step in the right direction to support the de-risking of Nigeria because the concept around the world is to invest in countries with less risk,” he said.

In another development, the Department on an assessment tour visited one of its licensed fabrication yard-lying fallow at Ilase community, snake island, Amuwo Odofin Local government area, Lagos State.

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.

The DPR boss assured Nigerians that the fabrication yard would be put to judicious use as it would save Nigeria millions of dollars used for importing things the country has a competitive advantage of producing.

“The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.



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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS,


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS,


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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In another development, the Department on an assessment tour visited one of its licensed fabrication yard-lying fallow at Ilase community, snake island, Amuwo Odofin Local government area, Lagos State.


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The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments. Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.SeRAS, which is one of the five units of the Department’s National Oil and Gas Excellence Centre (NOGEC) launched by President Muhammadu Buhari early in the year, is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain. The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest. He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments. In his words: “If it is not safe, it cannot generate revenue and if the revenue has to be constant, it has to be safe. This is why we have to ensure all workers across the value chain whether working offshore and onshore, whether they are working for exploration and production, marketing or refining.“The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be. “The oil and gas industry is like the engine room for the economic activities in Nigeria as we bring much of the money. If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk our nation and we are rewriting the history of the country.” The Acting Coordinator, Lagos State Zonal Office, the National Emergency Management Agency (NEMA), Ibrahim Farinloye, said the flag-off was the first in the oil and gas sector, describing the move as a major support in search and rescue.“There have been wide gaps in the oil and gas industry in terms of emergency response. The SeRAS is a step in the right direction to support the de-risking of Nigeria because the concept around the world is to invest in countries with less risk,” he said. In another development, the Department on an assessment tour visited one of its licensed fabrication yard-lying fallow at Ilase community, snake island, Amuwo Odofin Local government area, Lagos State. The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths. The DPR boss assured Nigerians that the fabrication yard would be put to judicious use as it would save Nigeria millions of dollars used for importing things the country has a competitive advantage of producing. “The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday said the revenue gained from the removal of petrol subsidy should be used for free conversion of vehicles to gas and distribution of gas cylinders to Nigerians. Mr Mike Osatuyi, National Operations Controller, IPMAN gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos. Osatuyi said there was an urgent need to switch massively to gas utilisation in Nigeria in order to sustain the deregulation of the downstream sector by the Federal Government.He said with over 200TCF proven reserves of natural gas, Nigerians would be insulated from the rising cost of crude oil at the international market if more focus was placed on domestic gas utilisation. Osatuyi said: “If you look at the electricity sector, the government is financing the National Mass Metering Programme to provide prepaid meters for Nigerians. “We believe a similar thing should be done in the oil and gas downstream sector to mitigate the impact of the removal of subsidy on petrol on the populace. “The government has inaugurated the autogas scheme, but to convert a vehicle from petrol to gas costs about N350,000 which many vehicle owners cannot afford. “Also, government needs to embark on free distribution of cooking gas across the country to deepen market penetration. “What we are saying is that now that subsidy has been removed on petrol, some part of the funds can be used to finance these schemes as a way of cushioning the effect of deregulation. “The vehicle owners and the beneficiaries of the gas distribution scheme will be paying for the services in installments as time goes on.”He said autogas was cheaper than petrol, adding that IPMAN was ready to avail the facilities of its members across the country for gas conversion skids. “It is only IPMAN that has this capacity because we are in the villages and we are ready for the scheme because we know it will even create more jobs for Nigerians,” Osatuyi said. He also urged the government to direct the Nigeria Liquefied Natural Gas (NLNG) to allocate sufficient quantity of gas to the domestic market to drive and sustain the programmes. Osatuyi noted that it was an irony that marketers were importing gas at exorbitant cost when the NLNG had the capacity to cover the country’s consumption capacity and still have millions of metric tonnes to export annually.


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K


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but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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Post by Tersugh Iorfa on 27 February 2021, 09:36 am

Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday said the revenue gained from the removal of petrol subsidy should be used for free conversion of vehicles to gas and distribution of gas cylinders to Nigerians. Mr Mike Osatuyi, National Operations Controller, IPMAN gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos. Osatuyi said there was an urgent need to switch massively to gas utilisation in Nigeria in order to sustain the deregulation of the downstream sector by the Federal Government.He said with over 200TCF proven reserves of natural gas, Nigerians would be insulated from the rising cost of crude oil at the international market if more focus was placed on domestic gas utilisation. Osatuyi said: “If you look at the electricity sector, the government is financing the National Mass Metering Programme to provide prepaid meters for Nigerians. “We believe a similar thing should be done in the oil and gas downstream sector to mitigate the impact of the removal of subsidy on petrol on the populace. “The government has inaugurated the autogas scheme, but to convert a vehicle from petrol to gas costs about N350,000 which many vehicle owners cannot afford. “Also, government needs to embark on free distribution of cooking gas across the country to deepen market penetration. “What we are saying is that now that subsidy has been removed on petrol, some part of the funds can be used to finance these schemes as a way of cushioning the effect of deregulation. “The vehicle owners and the beneficiaries of the gas distribution scheme will be paying for the services in installments as time goes on.”He said autogas was cheaper than petrol, adding that IPMAN was ready to avail the facilities of its members across the country for gas conversion skids. “It is only IPMAN that has this capacity because we are in the villages and we are ready for the scheme because we know it will even create more jobs for Nigerians,” Osatuyi said. He also urged the government to direct the Nigeria Liquefied Natural Gas (NLNG) to allocate sufficient quantity of gas to the domestic market to drive and sustain the programmes. Osatuyi noted that it was an irony that marketers were importing gas at exorbitant cost when the NLNG had the capacity to cover the country’s consumption capacity and still have millions of metric tonnes to export annually.


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Post by Amebo on 27 February 2021, 09:10 am

The Acting Coordinator, Lagos State Zonal Office, the National Emergency Management Agency (NEMA), Ibrahim Farinloye, said the flag-off was the first in the oil and gas sector, describing the move as a major support in search and rescue.“There have been wide gaps in the oil and gas industry in terms of emergency response. The SeRAS is a step in the right direction to support the de-risking of Nigeria because the concept around the world is to invest in countries with less risk,” he said.


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Post by Excellent2 on 27 February 2021, 08:54 am

The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest


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Post by Nwachukwufrank on 27 February 2021, 08:19 am

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


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The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


Post by Tersugh Iorfa on 25 February 2021, 12:21 pm

Delta State government has signed off the Asaba Airport facility to concessionaires in a deal that will earn the state, at least, N100 million in concession fee yearly. The strategic move to further develop the airport and make it run profitably (the first of such concession in the country), will also earn the state 2.5 per cent yearly revenue earnings over the next 30 years that the concession agreement would run. In a related development, the Osubi Airport in Warri, Delta State, is scheduled to reopen in the next two weeks after months of closure.At the agreement signing ceremony between Delta State government and Asaba Airport Company Limited in Asaba on Tuesday, the State governor, Dr. Ifeanyi Okowa, said the concession was motivated by the desire to have the critical facility developed into a full international air travel destination and profit-oriented asset for the host state. “Considering the cost alone, no state government can run an airport the way it should function to bring the maximum benefit to the people. So, we have decided to follow this route. I want the Delta people to know that this concession and the signing ceremony with the concessionaires today are in the best interest of the Delta people, and I hope that other States with state-owned airports will follow suit,” Okowa said. The previous administration built the facility and opened operations in 2008. It was, however, in 2015 downgraded by the Nigerian Civil Aviation Authority (NCAA) over dilapidated infrastructure and poor maintenance culture. Okowa, on the assumption of office, embarked on the facility upgrade, including the construction of a new runway, Instrument landing system and field lighting to have the airport return to 24-hour operations in 2019. The governor, yesterday, said while the upgrading was in progress, the State had since 2015, begun the transparent processes to bring in the private sector to take up the facility and transform it into a regional hub. He said following a rigorous bidding process, the state settled for a consortium of concessionaire operators/ investors “with the technical and financial capabilities to redevelop, finance, design, operate, maintain and manage the Asaba International Airport for the benefit of Deltans”. Okowa added that following his engagement with aviation agencies at Osubi Airport, the Federal Airports Authority of Nigeria (FAAN) had agreed to reopen the facility to flight operations. Though a private facility, he pledged to support the airport in the area of COVID-19 protocol for early resumption. The master concessionaire and sub-concessionaire model adopted for Asaba Airport produced FIDC-Menzies Consortium as the major shareholder, with technical partners like Air Peace airline as the anchor airline and MRO operator; while Multifreight Cargo and Logistics will manage the cargo aspect Others are Arbico Construction Company to develop the Business Park, Hotel and Convention Centre; Rainoil Limited and Cybernetics Limited to develop tank farm and aviation fuel supply, and Quorum Aviation Limited to develop and manage the private jet and helicopter terminal.The concessionaires have the mandate to invest N28 billion in the mandatory capital project the next three years and run the Asaba International Airport for an initial 30 years period, having paid the State government N1 billion as an upfront fee. Managing Director of Asaba Airport Limited, Adebisi Adebutu, said the goal of the concession was to reposition the airport to be the best in West Africa. Adebutu said the immediate work would be to modernise the airport through the terminal upgrade and laying of optic fibre for internet services. The long-term project would be to build a cargo facility, retail and leisure centres, airport hotel and the creation of an airport city. Director-General of the Nigerian Meteorological Agency (NIMET), Prof. Sani Mashi, commended the initiative, describing it as the best way to make such high-capital ventures run optimally and profitably. Mashi, who spoke on behalf of other aviation agencies, pledged to support the concessionaires as the airport widens operations and increases revenue.


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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Ondo State Governor, Oluwarotimi Akeredolu, has said that his policy drive for the next four years will consolidate on achievements recorded across all sectors during his first term in office despite the global economic crunch of COVID-19. Akeredolu gave the promise in his second term inauguration speech at the International Centre for Culture and Events (The Dome) in Akure, yesterday, after he was sworn in, alongside his deputy, Lucky Aiyedatiwa. The event, which was planned to be low-key, became a mega celebration, as members of the ruling All Progressives Congress (APC), family, friends and supporters of the governor and his deputy thronged the venue. The governor, who christened his speech “On the path to redemption,” recalled that he assumed office four years ago with the resolve to confront all challenges headlong, listing his achievements in education, agriculture, industrialisation and infrastructural development, among others.He, however, lamented that the COVID-19 pandemic, with its negative effect on the global economy, slowed down his pace to achieve all visions for the state. The 1,800 capacity hall was overstretched by guests who were initially pegged at 500 in number as they did everything humanly possible to beat all the security details and surveillance put in place to check crowd surge. It was a colourful celebration as many interest groups, leaders and political affiliates mobilised en-masse to the venue, while the popular Emerald Choir gave a wonderful rendition to regale the audience. The COVID-19 task force officials were stationed at strategic places to ensure strict compliance with the protocols and guidelines.Akeredolu and his deputy were sworn into office by the state’s Chief Judge, Justice Oluwatoyin Akeredolu, at exactly 11:49 a.m. while the duo left the hall for the parade guard salute. Meanwhile, as part of activities planned for the second term inauguration, the Kegites Club International, which the governor is a patron, has planned to hold a world gyration to celebrate the governor at The Dome by 7:00 p.m. today.


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest. He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest. He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.


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As much attention is given to oil and gas revenue,security and safety as well as health status of those who work in the sector should also be taken into


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am As much attention is given to oil and gas revenue,security and safety as well as health status of those who work in the sector should also be taken into


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As much attention is given to oil and gas revenue,security and safety as well as health status of those who work in the sector should also be taken into cognizance


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The oil and gas industry is like the engine room for the economic activities in Nigeria as we bring much of the money. If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk our nation and we are rewriting the history of the country.”


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Insecurity in oil producting Ares have remained a concern for producers,costing industry operators about seven percent of yearly spending


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Oil and gas industry


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Oil and gas could have gotten us more face at the inter economic table


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There will be more oil


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Post by BOSSMAN2311 on 24 February 2021, 22:06 pm

which is one of the five units of the Department’s National Oil and Gas Excellence Centre (NOGEC) launched by President Muhammadu Buhari early in the year, is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain.


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The oil is like engine room for all Nigeria


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Nigeria


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.....


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Post by Tersugh Iorfa on 24 February 2021, 18:56 pm

[1/29, 9:25 AM] Fresh Guy: *OH MY WIFE* EPISODE 5 He was missing his wife so badly. He didn't know where to find her. Each time he tried calling, it would go through with no response. His kids had just a day to return and he didn't know what he was going to say to them. He woke up very early the next day to go for his ward rounds and then try searching for his wife; hoping his search would yield some positive result. Maphiwe, you? How come? How come I couldn't make you out? This is my wife. This is the woman I've been searching for," he said turning to the midwives who were with him. "Baby why did you do this? Is it because of me, tell me dear", he pleaded as he took off his lab coat and stethoscope. He gave them to the midwives and asked them to excuse him. "Sweetheart, I'm sorry. All you needed was a listening ear. My work is stressful and very demanding. What you saw on my shirt was from one of these ladies who lost the husband. I consoled her, not in my office but in the presence of everyone. I love you and will forever do. There's been no single day that I've never thought of you. All we need is COMMUNICATION as an essential tool in our marriage. About the ring, look at this (he said taking new ones from his pocket). Mine was getting too tight around my finger so I decided on get new ones for us but unfortunately it sparked a never quenching flame of mistrust in our home. I love you and you know I do. His wife couldn't but shed uncontrollable tears. I'm sorry. I should have given you a listening ear. I was too harsh on you. I knew my words were driving you away, but pride wouldn't let me be. I'm sorry for all those words I used on you. Please darling forgive me. It was too much for me that I thought you were cheating so I aborted the pregnancy when I found out I was pregnant. I know how much you wanted us to have our third and last child soon but please forgive me. Baby, don't worry. We can still make the babies anytime all you need to do is humble yourself before God and apologize for this abortion. Get well first for me okay? There was a knock on the door. That was a staff. Hi fresh ome on+233544142683 to get more exciting stories from storyline, unlimited story platform,fresh stories kingdom, house of stories room, Novela and story room, sweet and nice story room. "Doctor, please some people....". Before he could end *the statement, Abigail and Lukundo rushed into the room. "Daddy, good morning. We came with grandma and grandpa* ," they said without even noticing that was their mum. "We went home but the doors were locked so we decided to pass by. Where is mum?", they asked. Don't worry, go and bring them in and I would tell you where she is. Pascal our *son, what happened to you? You have wasted so much. We would go home for you to attend to your patients..and why are you sitting* on the bed? Is it allowed? Mama, easy now. It's no one else aside your own daughter in law. It took them all aback. What is wrong with her? What happened? Is she okay? All came from different mouth at the same time. She smiled and said, "I'm fine. I know you all came because, these two stubborn kids might have told you something. Don't worry, we have solved it. I even wish we could go back to the altar again to exchange our vows. It's not a problem my dear. All I can say is I re-do". "Yes, we have solved it. We are going to work on our communication tools to avoid any future issues. I also re-do,"he added. This surprised them all as they stared at one another. Finally peace and Love was successfully restored in the house after a reciprocal of apologies and confessions. THE END [1/29, 9:25 AM] Fresh Guy: *OH MY WIFE* EPISODE 4 ...It didn't take her too long to return home. Abigail told her about what their grandparents were asking. She sat quietly and said, "brother, we need to tell them because we are too young to solve this." My son has killed me. He never bothered to mention it to me. Not even Maphiwe. Anyway we've heard you. We can't solve such issues on phone. I shall go there myself first thing tomorrow morning... My husband, would you rather go so that I take care of the children? I think since they have a week more to spend with us, it's better we all go with them and advise them as elderly people. They both can't leave in the same house and see each other as rivals. Wherever the issue is coming from must be ironed. Meanwhile back in the city, Maphiwe had temporarily moved out of her matrimonial home to a rented single room apartment. It was clear the marriage was at the verge of collapse. This took the best part of Pascal *Paul. He was no more the lively doctor. He tried hard to put up a smiling face, but it was obvious* there was a problem. Something was hunting him and it needed to be solved. He picked his phone from his *pocket to call his pastor. Another call came through when he was about making the call. That* was a physician assistant friend of his from another private hospital. He had *referred a case to him for him to attend to so he was calling to inform him. Hi ish on+233544142683 to be added to story headquarters room for more stories. He told Pascal about the condition which needed immediate* attention. He quickly told the midwives to *set up their minor theatre for a procedure. They brought in the patient who was almost unconscious* and cloaked *in blood. She had committed an abortion and was having complications. She needed* an immediate evacuation of uterus (EOU). He attended to her and left to his house, forgetting about the phone call he had planned to make. He was missing his wife so badly. He didn't know where to find her. Each time he tried calling, it would go through with no response. His kids had just a day to return and he didn't know what he was going to say to them. He woke up very early the next day to go for his ward rounds and then try searching for his wife; hoping his search would yield some positive result. TBC


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments


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He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments


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He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments


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The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


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The DPR boss assured Nigerians that the fabrication yard would be put to judicious use as it would save Nigeria millions of dollars used for importing things the country has a competitive advantage of producing.


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In another development, the Department on an assessment tour visited one of its licensed fabrication yard-lying fallow at Ilase community, snake island, Amuwo Odofin Local government area, Lagos State


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The DPR boss assured Nigerians that the fabrication yard would be put to judicious use


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The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


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The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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“I am not in Anambra State to spoil the rotational arrangement, which has not done the state any good, rather it has helped to bring us incompetent leaders. “The youth of this state have made it clear to me that they are tired of the way the state has been run in the past, and want somebody like me to contest. Politics of today is not about where one comes from, but about whom the cap fits,” he stated. The estate developer admitted not being a moneybag to square up with the army of billionaires jostling to contest the race, but said that God who created him deposited immense resources in him, that would enable him stand his ground any day. On his part, Ameke said the party would follow its constitution in addressing all issues concerning party primaries and aspiration of hopefuls.


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The Federal Government has disregarded the Central Bank of Nigeria Act (2007) as it moves to restructure its estimated $25.6 billion (an equivalent of N9.7 trillion) overdrafts with the monetary authority into a 30-year debt. The amount, which sources said is unverifiable and could have been discounted following the high level of secrecy around the processes leading to the loans, consists of the existing short-term advances granted by the apex bank. Government may have, by the facility restructuring, heeded the warning by International Monetary Fund (IMF) and Fitch that the mounting overdrafts were responsible for the accelerating inflation, which hit 16.47 per cent in January. Like its procurement process, the planned loan liquidation faces major legal hurdles, among which is the CBN Act 2007 that spells out how advances extended to government should be treated as well as repayment processes. Section 38 of the Act stipulates that the apex bank “may grant temporary advances to the Federal Government in respect of temporary deficiency of budget revenue.” It, however, restricts the amount to five per cent of the previous “year’s actual revenue of the Federal Government.”The CBN-enabling law also mandates government to offset any advance before the end of the financial year it is granted. Failure to repay, according to the law, the government should be deprived of accessing the window to plug its funding gap. Godwin Owoh, a professor of applied economics who worked with a former CBN governor, Prof. Charles Soludo, as an advisor and was actively involved in the drafting of the Act, said the section was included in the statute as a safeguard against macroeconomic distortion by Ways and Means (W&M) financing, which is equivalent to printing unearned money to spend. But he lamented that the Federal Government had, in the past few years, disregarded the legal caution, inflicting pains on millions, as inflation ballooned on the wings of blatant abuse of W&M facilities. The government, it was learnt, has chosen to settle for a long-term debt, as the current fragile fiscal stance does not support an immediate repayment. But experts have warned that converting unearned short-term facility into a long-term debt is suicidal as “the asset is worthless.” As government defers its responsibility indefinitely — as many do not believe it would be able to pay up even within 30 years — economists have also warned that the securitisation plan, as disclosed by the Debt Management Office (DMO), would put enormous pressure on future generations who are ill-prepared for the demand. Owoh said, “the arrangement portends moral hazards for DMO” to seek an extension of the repayment of the overdrafts to 30 years. It is worse, the economist said, that Nigerians are subjected to unbearable taxation. “Yes, Nigeria’s explicit taxes are among the lowest in the world as argued by the government. But the covert tax burden inherent in the culture of self-sourced infrastructures such as power and water is almost unbearable.” In a tax engagement recently, the President of the African Development Bank (AfDB), Akinwumi Adesina, said both direct and indirect taxes have dire consequences for payers and that implicit taxes are a huge challenge to Nigerians.That the taxes are not judiciously used, experts have complained, leaves the people with so many unbearable pains and consistently pushing the future generations to the brink. The converted CBN’s advances will expand the existing public debt liability by a staggering 30 per cent. Added to the existing debt, which stood at N32.2 trillion as of last June, the total public debt estimate would be N42 trillion. The Guardian reported last week that the Federal Government had agreed to the conversion of its stock of overdrafts with the Central Bank into long-term debt to create semblance of transparency around its dependence on Ways & Means funding. The debt will be exchanged for 30-year notes issued to the central bank, Patience Oniha of the Debt Management Office reportedly said. The converted debt would be amortized over 30 years starting with a two-year moratorium, Oniha reportedly told Bloomberg. The government’s dependence on CBN’s borrowing became habitual recently as public revenues nosedived. The financing helped plug spending shortfalls as non-oil revenues failed to cover the gap created by lower earnings. The increasing reliance on the Central Bank of Nigeria overdrafts has come with untoward macroeconomic instability, the IMF and Fitch said via separate reports issued recently. With the GPD slipping from N71.38 trillion in 2019 to 70.01 trillion last year, the debt-to-GDP ratio would have ballooned to 60 per cent when the Federal Government and the CBN eventually finalise the loan restructure the deal. But experts are also worried that the bigger devil is even several contingent liabilities of the Federal Government. For instance, the government is indebted to teachers, university lecturers and other public servants to the tune of several billions of naira. During last year’s teacher’s day, President Muhammadu Buhari approved a special salary scale for teachers across the country. The implementation, like many other commitments in form of special allowances and wage increments, is yet to be implemented. These, Owoh said, constitute some form of debts but are often undocumented.The professor said the new plan is “an indication the government has gone bankrupt, a state worse than insolvency,” showing the country is on the brink of failure. He continued: “It shows that the CBN is captured, hence, made to extend credit to the government over and above the stipulations of a normal monetary policy and its enabling law. Its independence is consequently surrendered willingly to political authorities. The 30-year instrument is being created without a current year cash flow reflow implications. This is a further violation of the Fiscal Responsibility Act (2007) and a sad day for the economy. I cannot relate this trend to any known trend in economic history.” On the way forward, he said, “an economic indemnity should be required of the government, the CBN and DMO that all desirable professional and ethical standards are in place and that all aspects of the transaction pass the utmost good faith test.” An energy economist and public commentator, Bala Zakka, also described the planned conversion of the short-term funds to long-term facility as the height of irresponsibility. “While nations like Norway, Saudi Arabia and Qatar are planting seeds of growth and development for their future generations, Nigerian leaders are busy planting the seeds of debts, and slavery for citizens,” Zakka said.Still, Sheriffdeen Tella, a professor of Economics at the Olabisi Onabanjo University, suspected the government was desperately seeking to clear the way for fresh loan hiding under the cloak of restructuring of existing ‘bad loans.’ “It is high time the government stopped borrowing its way out of financial problems. It should look for new ways of generating revenue or income as Lagos State did when the FG blocked its fund under President Olusegun Obasanjo’s administration. The government should seek a way out of this from its economic team,” Tella suggested. An ex-Director-General of the West African Institute for Financial and Economic Management (WAIFEM), Prof. Akpan Ekpo, said the government ostensibly embraced the long-term payment option because its current cash flow cannot support the short-term payment intended by an overdraft. But he expressed concern that the government would be leaving “so much” liabilities for which the future generations are least prepared for the tough responsibility. He said the decision amounts to “postponing the evil day” and that the burden could only be lighter if the process is transparent and subsequent loans are invested in infrastructure to boost future production. There is also the fear that the envisaged asset could turn to a dark long-term pseudo-instrument and the possibility of discounting the real amount, except an independent party joins the tripartite team – FG, CBN and DMO – to serve as the public eye.


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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Post by Tsunami007 on 24 February 2021, 00:41 am

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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“The oil and gas industry is like the engine room for the economic activities in Nigeria


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L


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and gas industry,” he said.


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The oil and gas industry is like the engine room for the economic activities in Nigeria as we bring much of the money


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It's business


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I thank God


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I believe Nigeria oil and gas refinery will be standard one day.


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Thanks


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Always reaffirming commitment in this country


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Sound very nice


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investors’ confidence and make Nigeria a destination for oil and gas investments. Which brings more to nigeria as a developing county


Post by Pasito on 23 February 2021, 22:41 pm

The industry needs leverage for investment


Post by Sperry T on 23 February 2021, 22:41 pm

Nigeria has more than oil. There's need for diversification


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okay


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Okay


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Hi everyone


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Interesting


Post by AHS96 on 23 February 2021, 22:31 pm

Thnaks for this


Post by Onomor Dafe on 23 February 2021, 22:29 pm

Insecurity in oil-producing areas have remained a concern for producers


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Nice one


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This is a nice development


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Hmmmmmm


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Thanks for the info


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Thanks for the update


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Insecurity in oil-producing areas have remained a concern for producers


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Thanks for the update


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Thanks for the update


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The industry needs leverage for investment


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Noted


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Okay


Post by Timmy23 on 23 February 2021, 22:23 pm

Oil which is still the national cake in this country


Post by Waskid112 on 23 February 2021, 22:23 pm

He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.


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O


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Thank you for the update


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Oil is definitely getting ahead of the game again.


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Thanks for the update


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Hopefully, it's safe and generates enough revenue. Make e no be like say all na cruise as usual like the old times.


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Thanks


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Thanks for the update


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Very informative


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Post by olaj7473 on 23 February 2021, 22:01 pm

investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active


Post by Martins 12 on 23 February 2021, 22:01 pm

Thanks


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Good


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wow


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Post by Siqnocase on 23 February 2021, 21:58 pm

activities in Nigeria as we bring much of the money.


Post by Olamilekan011 on 23 February 2021, 21:58 pm

Hopefully, it's safe and generates enough revenue. Make e no be like say all na cruise as usual


Post by Oluseyi on 23 February 2021, 21:57 pm

Thanks for the update


Post by tersoo on 23 February 2021, 21:57 pm

“The oil and gas industry is like the engine room for the economic activities in Nigeria as we bring much of the money.


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Thanks for the update


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Post by Isrealdaeasy on 23 February 2021, 21:55 pm

Wow, this is a great opportunity for the Nigerian youths


Post by Daviss on 23 February 2021, 21:54 pm

Nice update guys keep it up


Post by NezAustin on 23 February 2021, 21:53 pm

Hopefully, it's safe and generates enough revenue. Make e no be like say all na cruise as usual


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Thanks for the update


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Okay


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Thanks for the update


Post by Fuseini on 23 February 2021, 21:52 pm

This would renew investors’ confidence and make Nigeria a destination for oil and gas investments.


Post by Joseph11 on 23 February 2021, 21:52 pm

Good


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Thanks for update


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Thanks for the update


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Hopefully, it's safe and generates enough revenue. Make e no be like say all na cruise as usual


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Thanks for the update flowextra


Post by Pena on 23 February 2021, 21:49 pm

I hope SeRAS fulfills its obligations


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Make sense. It would fetch us some cash


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That's good news


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Thanks for the update


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Awesome


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Thanks for the update


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Okay


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Thanks for the update


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Continue doing well


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Thanks for the


Post by Mrfarouk01 on 23 February 2021, 21:31 pm

thank you for your updates


Post by Godiva12 on 23 February 2021, 21:29 pm

If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk


Post by Hafsat03 on 23 February 2021, 21:29 pm

Thanks


Post by Omilousy on 23 February 2021, 21:28 pm

GREAT


Post by maryjac on 23 February 2021, 21:27 pm

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


Post by Meleri on 23 February 2021, 21:27 pm

If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk


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Thanks for the update and support


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Thanks for the update opportunity


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Okay good thanks for the update


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Nice one


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Thanks for the update flowextra


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That's nice


Post by Nerytec on 23 February 2021, 21:20 pm

Gud


Post by Firstbroom1 on 23 February 2021, 21:20 pm

If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk


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Thanks for the update


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A very good welcomed development. Let's start from somewhere


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Good


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The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be.


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Wow god bless our nation


Post by Emmability on 23 February 2021, 20:51 pm

DPR to leverage SeRAS for new oil, gas investments


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Flowextra thanks for the update


Post by Udeze on 23 February 2021, 20:49 pm

Good news.God bless this Nigerian and the world at lsrge


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Thanks for the update


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Thanks for the update


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Oh Allah bless Nigeria


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Thanks for the update


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Post by Ayozed1 on 23 February 2021, 20:29 pm

All we hear is commissioning of new project sooner or later it dies down after the revenue have been shared among themselves in proper proportion


Post by Blissfulamy on 23 February 2021, 20:28 pm

Tnks for the update


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Thanks for the update


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Thanks for the information sir thanks


Post by Surprise1234 on 23 February 2021, 20:26 pm

God will see them through because I hope this works as planned


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I hope this works as planned


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Thanks for the update


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Thanks fr d update


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God will see us through


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Post by Boy_yemmy on 23 February 2021, 20:17 pm

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


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Despite


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God help


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The oil and gas sector should made active


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Post by Sethslime on 23 February 2021, 19:56 pm

Let fighting of insecurity be the priority in the sector


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Thanks for the information flowextra


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Thanks a lot for the update flowextra


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Okay


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Nice update


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Thanks for the information flow extra


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They're showing support for the team


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Thanks for the update flowextra


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Thanks for the nice update


Post by NobleKhay on 23 February 2021, 19:41 pm

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


Post by BramHub on 23 February 2021, 19:40 pm

Thanks for the information


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Okau


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They're showing support for the country


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Post by Cherrydee on 23 February 2021, 19:36 pm

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


Post by Emmanuel242000 on 23 February 2021, 19:35 pm

Such a great initiative that would renew the confidence of investors.


Post by Josephamos on 23 February 2021, 19:34 pm

The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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Post by Wassymoore on 23 February 2021, 19:30 pm

The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


Post by Chiamaka19 on 23 February 2021, 19:29 pm

Thanks flowextra nice update


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Thanks for the update


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Nice and timely update from Flowextra.


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Thanks for the update


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Thank innovation


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Fascinating


Post by Daviskiig on 23 February 2021, 19:18 pm

Wow


Post by Uniquenikky on 23 February 2021, 19:17 pm

“The oil and gas industry is like the engine room for the economic activities in Nigeria as we bring much of the money. If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk our nation and we are rewriting the history of the country.” The Acting


Post by Kinggs on 23 February 2021, 19:17 pm

Thank you very much for the update flowextra


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Flowextra thanks for the update


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Thanks for the information shared . you are doing a great job


Post by Chamy on 23 February 2021, 19:13 pm

The department of petroleum resources should be accountable for their actions


Post by Jesus Son on 23 February 2021, 19:12 pm

Thank you flowextra for the update


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Good update


Post by Adebayo12 on 23 February 2021, 19:10 pm

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Post by abayomi001 on 23 February 2021, 19:09 pm

The industry depends on facilities like this to actualise their investment.


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thanks for the update


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Thanks for the news


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Thanks for the update


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Thanks for the update guys keep it up and running again and always


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Thank you for the update


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thanks for the informative updates on the current news in Nigeria


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All the best


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Ok


Post by Sparrow on 23 February 2021, 19:02 pm

Thanks for the info flowextra


Post by yettie on 23 February 2021, 19:02 pm

Great work DPR


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Thanks for the update


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Thanks for the information shared . you are doing a great job


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Nice uodae


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Thanks for the update


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Thanks for the update


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Thanks for the update flowextra


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Thanks for the update


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Thanks for the update flowextra


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Thanks for the update


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Thanks for the update


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Good news from Flowextra


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Thanks for the update flow extra


Post by Sterling on 23 February 2021, 18:47 pm

What is really going on in this country


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Interesting


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Post by Topkidd on 23 February 2021, 18:45 pm

Good


Post by Fesojaye on 23 February 2021, 18:45 pm

thanks for the update flowextra


Post by LAT on 23 February 2021, 18:44 pm

Nice upda


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Nice


Post by Anita001 on 23 February 2021, 18:44 pm

Okay


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Thanks for that


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Thanks for the update


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Thanks for the update


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Thanks for the update flowextra


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Awesome


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good update thanks for the good news


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Nice update flowexrta


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This is very good


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Alright


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Oh nice


Post by Hardeniyi8 on 23 February 2021, 18:34 pm

The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be.


Post by Dominion303 on 23 February 2021, 18:34 pm

Thanks for the update


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What is really going on in this country


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Thanks for the update flowextra


Post by Humpheryokey on 23 February 2021, 18:33 pm

Thanks for the update


Post by Adah on 23 February 2021, 18:33 pm

The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be.


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Post by Zeeebaba on 23 February 2021, 18:30 pm

All investments would be lost to either government or vandalism


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Thanks for the information flowextra


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Thanks for the update flowextra


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Thanks for the information


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Nice


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Thanks


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Thanks for the y


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Wow political


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All investments would be lost to either government or vandalism


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Good


Post by OrNoir007 on 23 February 2021, 18:16 pm

He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.


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That nice


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Nice one


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Thanks


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Nice


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Thanks for the info flowextra


Post by Luckyb on 23 February 2021, 17:56 pm

I hope the government are ready this time around


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Cool update


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The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be.


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Good


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Nice


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Nice update


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Thanks for the update FLOWEXTRA, much thanks.


Post by Hamedino on 23 February 2021, 17:44 pm

Amazing


Post by Adelanke on 23 February 2021, 17:42 pm

This will be the better choice


Post by Joshua4tcom on 23 February 2021, 17:42 pm

This is one of hilarious and giant step to bring turn around to oil sector....


Post by MAJORJOHNSON on 23 February 2021, 17:42 pm

Good


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Al


Post by Aleeyak on 23 February 2021, 17:42 pm

Thanks for the update


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Thanks for the update


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We sincerely hope this turns out to be a great rescue


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Thanks for the update 😊


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Thanks so much for the wonderful update


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This is really interesting to hear. Cannot lie


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Thank you for the update.


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Thanks for the update to


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Thanks for the update


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thanks for the update flowextra


Post by Jetfreddy1 on 23 February 2021, 17:33 pm

Update and news head line na Wan just kill this country, every day new things on going and out coming


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Thanks for the update flowextra


Post by BALDY on 23 February 2021, 17:32 pm

Nice update


Post by Sweetlily on 23 February 2021, 17:32 pm

Information is power. Thanks for bringing us up to speed.


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Thanks for your update flowextra


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wonderful update


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Thanks for your update flowextra


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Thank you for the timely update Flowextra


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Great one


Post by Adekunle2040 on 23 February 2021, 17:29 pm

Thanks for the update flowextra


Post by Klean money on 23 February 2021, 17:28 pm

With this we are hopeful that the gas sector will grow again


Post by Buikem on 23 February 2021, 17:28 pm

Thanks for the info flowextra


Post by Decent-boy on 23 February 2021, 17:27 pm

Thank you flowextra for the update... U are the best 🙌🙌


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Thanks for the update flowextra 🥰


Post by Elect on 23 February 2021, 17:27 pm

Thanks


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Post by Harghagz on 23 February 2021, 17:25 pm

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.


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Post by cugaE on 23 February 2021, 17:03 pm

I pray SeRAS accomplish the goal they have set out to acheive


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I pray SeRAS accomplish the goal they have set out to acheive


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Is already a time we take care of our oil


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Post by Oluwasheyieze on 23 February 2021, 16:55 pm

The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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Post by Abayomi61 on 23 February 2021, 16:03 pm

The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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There have been wide gaps in the oil and gas industry in terms of emergency response. The SeRAS is a step in the right direction to support the de-risking of Nigeria because the concept around the world is to invest in countries with less risk


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Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.SeRAS, which is one of the five units of the Department’s National Oil and Gas Excellence Centre (NOGEC) launched by President Muhammadu Buhari early in the year, is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain.


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The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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Post by Olayemi19 on 23 February 2021, 14:40 pm

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments. Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.SeRAS, which is one of the five units of the Department’s National Oil and Gas Excellence Centre (NOGEC) launched by President Muhammadu Buhari early in the year, is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain. The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest. He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments. In his words: “If it is not safe, it cannot generate revenue and if the revenue has to be constant, it has to be safe. This is why we have to ensure all workers across the value chain whether working offshore and onshore, whether they are working for exploration and production, marketing or refining.“The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be.


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Post by Tersugh Iorfa on 23 February 2021, 14:27 pm

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments. Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.SeRAS, which is one of the five units of the Department’s National Oil and Gas Excellence Centre (NOGEC) launched by President Muhammadu Buhari early in the year, is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain. The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest. He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments. In his words: “If it is not safe, it cannot generate revenue and if the revenue has to be constant, it has to be safe. This is why we have to ensure all workers across the value chain whether working offshore and onshore, whether they are working for exploration and production, marketing or refining.“The essence of this programme is to guarantee the safety of lives while guaranteeing any emergency and the same time provides medical services to a victim that will be. “The oil and gas industry is like the engine room for the economic activities in Nigeria as we bring much of the money. If it is not safe, the common man will not have the required energy to move. We are also trying to de-risk our nation and we are rewriting the history of the country.” The Acting Coordinator, Lagos State Zonal Office, the National Emergency Management Agency (NEMA), Ibrahim Farinloye, said the flag-off was the first in the oil and gas sector, describing the move as a major support in search and rescue.“There have been wide gaps in the oil and gas industry in terms of emergency response. The SeRAS is a step in the right direction to support the de-risking of Nigeria because the concept around the world is to invest in countries with less risk,” he said. In another development, the Department on an assessment tour visited one of its licensed fabrication yard-lying fallow at Ilase community, snake island, Amuwo Odofin Local government area, Lagos State. The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths. The DPR boss assured Nigerians that the fabrication yard would be put to judicious use as it would save Nigeria millions of dollars used for importing things the country has a competitive advantage of producing. “The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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Post by Kofoshi1 on 23 February 2021, 14:16 pm

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


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deaths caused by damaged portions of the roads became a daily feature of our lives. At the notorious Oke Oka and Oke Alabojuto roads in


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If it is not safe, it cannot generate revenue and if the revenue has to be constant, it has to be safe


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Thanks for the update


Post by selimadisa01 on 23 February 2021, 13:58 pm

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


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Post by Iya uche on 23 February 2021, 13:32 pm

The DPR expressed displeasure at the fallow asset despite its ability to create wealth and job employment for the nation’s teeming unemployed youths.


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We need more investment to grow our economy


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Post by Ujulieth on 23 February 2021, 13:16 pm

Insecurity in oil-producing areas have remained a concern for producers


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Is that so


Post by Oluwaibk123 on 23 February 2021, 13:13 pm

Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.


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Post by Adeyemikorede39 on 23 February 2021, 13:11 pm

He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.


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producing extreme conditions of floods, excessive heat, drought and pest infestation — has grossly affected food production, especially in developing


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Post by Chimike1401 on 23 February 2021, 12:06 pm

The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector


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Nice update from flowextra


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Thanks so much for the Update flowextra


Post by Favyoteta on 23 February 2021, 12:06 pm

The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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This is a very welcome development


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Very helpful, honestly, the oil and gas is a good way of improving the countries economy


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Post by ochuko on 23 February 2021, 11:56 am

Security is first after good health as long the bandits wouldn't leave oil and gas, everything we here is vandalization,then govt should go as fast as possible possible and cover for the workers to ensure safety.


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Very helpful, honestly, the oil and gas is a good way of improving the countries economy


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Can they just look elsewhere for investment?


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Great news


Post by Habeeb22 on 23 February 2021, 11:42 am

It is like a support system for the oil and gas sector. But the question is will it reduce the rate of unemployment


Post by Fisayo on 23 February 2021, 11:41 am

The oil and gas industry is like the engine room for the economic activities in Nigeria No lies in sight


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It is a good idea


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Post by Clintonosas on 23 February 2021, 11:39 am

Wonderful news


Post by Risingsun on 23 February 2021, 11:38 am

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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It is like a support system for the oil and gas sector. But the question is will it reduce the rate of unemployment


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Post by Shubys02 on 23 February 2021, 11:08 am

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS)


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If this plan is to be successful and active, what would the citizens of the nation benefit from it actually?


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Post by Adesope12 on 23 February 2021, 11:00 am

The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest.


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Post by Prechy83 on 23 February 2021, 10:49 am

They will be preaching Agriculture and diverting peoples mind off the real deal. Oil!


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Thanks


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They will be preaching Agriculture and diverting peoples mind off the real deal. Oil!


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This is a very good initiative I pray that God will use it for the good of we Nigerians


Post by aji_josh on 23 February 2021, 10:40 am

They will be preaching Agriculture and diverting peoples mind off the real deal. Oil!


Post by Emmyranking on 23 February 2021, 10:39 am

This will be bring more economy growth to the country


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Why is Nigeria based on oil and gas only??


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This will be bring more economy growth to the country


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More grace to our country


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Post by Timothy111 on 23 February 2021, 10:31 am

Insecurity in oil-producing areas have remained a concern for producers, costing industry operators about seven per cent of yearly spending.SeRAS, which is one of the five units of the Department’s National Oil and Gas Excellence Centre (NOGEC) launched by President Muhammadu Buhari early in the year, is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain. The Director, DPR, Sarki Auwalu, at the flag-off of SeRAS, said with the initiative there is no negotiation for safety. He pointed out that the entire business is safety and revenue interest


Post by Kingkammy on 23 February 2021, 10:31 am

Thanks for the updates


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Opportunity to grow and increase is what we need in this country


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Good idea but insecurity is the major downfall of Nigeria not only in the oil and gas but for every sector


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Post by a081deronkem on 23 February 2021, 10:27 am

The Department of Petroleum Resources (DPR) has commenced the implementation of its Search Rescue and Surveillance Programme (SeRAS) initiative in a bid to renew investors’ confidence and make Nigeria a destination for oil and gas investments.


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SeRAS is expected to increase the level of safety; achieve cost efficiency while bringing about value addition across the oil and gas industry value chain.


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Hmmm this investment hope they are not planning to increase the price of it


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How did we get to this point??? How did the black gold become a curse to us, yet a blessing to other climes!!! We need to scrap all boards and begin anew...


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Thank you for the update


Post by Ibrahimjima on 23 February 2021, 10:21 am

He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.


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He reaffirmed the Department’s commitment to achieving a safer environment for both local and foreign investments.


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I hope the investment goes well


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The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector.


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Wow.. may it go well


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The industry depends on facilities like this to actualise their investment because it is like a support system for the oil and gas sector. Our visit here is that we see an edifice that we licensed and it is dormant, but we are going to make it active because we see an opportunity to grow the oil and gas industry,” he said.


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Juz pray it willake sis country a better one


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Nice update


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A very good one, i hope its gonna make Nigeria better.


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Ok


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investors’ confidence and make Nigeria a destination for oil and gas investments.


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Post by Biola01 on 23 February 2021, 09:21 am

Nice update


Post by Nkomdaniel5 on 23 February 2021, 09:21 am

Thank you for the update


Post by Kenskid on 23 February 2021, 09:20 am

Thank You FlowExtra for the information


Post by mosesuwa13 on 23 February 2021, 09:20 am

thats a good plan keep it up


Post by Supreme Concept on 23 February 2021, 09:20 am

Thanks for the update flowextra


Post by Youngog on 23 February 2021, 09:20 am

Thanks for update flowextra


Post by Dahfnwa on 23 February 2021, 09:20 am

Thanks for the update


Post by Bassil on 23 February 2021, 09:20 am

Sound pretty good


Post by Kelemasimiyu87 on 23 February 2021, 09:19 am

Thanks for the information


Post by Emmah on 23 February 2021, 09:19 am

Thanks for the update


Post by Emmah on 23 February 2021, 09:19 am

Thanks for the update


Post by Pascalguy on 23 February 2021, 09:19 am

Thanks for update flowextra


Post by Preebsweedie on 23 February 2021, 09:19 am

Thanks for the unending information flowextra


Post by Ezekiel42 on 23 February 2021, 09:19 am

Wow that's so cool



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