All Posts in "Dan Poster"

OPEC Agrees On 137,000 Barrels A day Crude Output Hike For November

Key producer members of the Organization of Petroleum Exporting Countries (OPEC) have agreed to raise their collective output ceiling by another 137,000 b/d in November.

“In view of a steady global economic outlook, and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137,000 b/d from the 1.65mn b/d additional voluntary adjustments,” the OPEC secretariat said.

The decision comes as the group — Saudi Arabia, Iraq, Kuwait, Russia, the UAE, Algeria, Oman and Kazakhstan — began to unwind 1.65mn b/d of voluntary cuts this month, starting with an initial 137,000 b/d hike in their collective production target.

The 1.65mn b/d voluntary cut was agreed in April 2023 and originally included a small contribution from Gabon, which is not part of the latest plan to restore output.

The move reflects a continuation of the cautious approach that the group has chosen to take going into the fourth quarter of this year — a time when the world typically enters a seasonal lull in oil demand. The IEA has projected sizeable surpluses not just in the fourth quarter of this year, but also in 2026.

The group, accordingly, maintained deliberate ambiguity on production guidance beyond the coming month, just as it did at its previous meeting in September.

Delegate sources told Argus media that during the meeting, Saudi energy minister Prince Abdulaziz bin Salman openly asked Russia’s deputy prime minister Alexander Novak whether there had been any discussions or consultations on policy beyond November, and specifically whether any talks had been had around volumes other than the 137,000 b/d discussed and agreed today. Novak confirmed to the others in the group that no such consultations had taken place.

With concerns around oversupply lingering, some delegate sources questioned prior to the meeting whether additional barrels were required, arguing that the market is already “well supplied.” But delegate sources told Argus that today’s decision was nevertheless taken swiftly with no formal opposition.

“Let us continue returning those remaining barrels and see how markets react,” one delegate told Argus. “We can act accordingly as we retain considerable flexibility now,” the delegate added.

The group of eight has turned its attention to the 1.65mn b/d cut after completing last month the unwind of a separate 2.2mn b/d cut that was agreed in November 2023.

Ice Brent crude futures closed at $64.53/bl on 3 October, down by just $1/bl since the group last met in early September.

But as has been the case since the group began unwinding these cuts in April, the actual production increase in November is likely to fall short of the headline 137,000 b/d agreed today, both because of ongoing compensation obligations by past over-producers, and upstream and midstream bottlenecks in some member countries such as Russia.

Between April and August, Argus estimates that the group restored only 1.35mn b/d of production, far short of the notional 1.92mn b/d that the collective quotas rose by over this period. Since January, Opec+ production rose by 1.8mn b/d.

The eight producers are scheduled to meet again on 2 November to determine their policy move for December.

Dan Poster by — October 6, 2025 in Business 0
2027: APC will apply votes, not federal force to take over Abia – Deputy Speaker, Kalu

Deputy Speaker, House of Representatives, Benjamin Kalu has said that his party, the All Progressives Congress, APC, will not apply federal government force to win elections in Abia State in 2027.

He said the party would dislodge the ruling Labour Party with people’s votes.

He made the declaration in Umuahia on Sunday while addressing the members of Renewed Hope Partners and other APC members.

Kalu, who told Abia people, especially the members of the APC, to obtain their voter’s cards in the ongoing continuous voters’ registration, said the cards would be used to sack the ruling Abia government in Abia by 2027.

“We are not going to take over this State by force. Some people when we talk, they say we want to use Federal government power, no!

“We are going to use the votes of the masses”, said Kalu.

He accused the the Labour Party, LP-led administration in Abia State of underperformance, saying that two former governors, Theodore Orji and Okezie Ikpeazu achieved better results with about 3 and 4 billion Naira they received as monthly FAAC allocations, when compared to the bigger allocations the State is receiving presently.

He said that Abia people are prepared to re-elect President Bola Tinubu in 2027 based on his various achievements and for money he is making available to Abia and other State governors.

The Deputy Speaker disclosed that some persons in Abia are hauling insults at him for recently telling the truth to the Abia State government, but vowed to sustain his role as “the leader of the opposition in the State.”

Dan Poster by — October 6, 2025 in Politics 0
Strongest opposition ticket against Tinubu is Atiku, Obi – Olarewaju

Former Vice President Atiku Abubakar and the 2023 Labour Party (LP) presidential candidate, Peter Obi could form the strongest opposition ticket against President Bola Tinubu in the 2027 elections, according to Demola Olarewaju, Special Assistant on Digital Media Strategy to Atiku Abubakar.

He revealed this while speaking on the “Mic On Podcast.”

He suggested that a partnership between Atiku and Obi could create a “co-presidency” scenario, allowing Nigerians to benefit from both leaders’ ideas.

“I think the best bet would be to have the two of them on that ticket and give Nigerians this sort of sense of co-presidency,” he explained.

Olarewaju described Atiku as a resilient politician who consistently supports fellow candidates after losing primaries.

“He lost the primaries to Goodluck Jonathan in 2011 and worked for him, delivering Adamawa State in that election. That’s who Atiku Abubakar is,” Olarewaju said.

He also emphasized the importance of youth participation in politics, noting that the African Democratic Congress (ADC) plans to reserve 35 to 50 percent of its positions for young people and women.

“Nigerians deserve a party that recognizes the strength of young people, Gen Z, Gen Alpha, even, and harnesses their potential,” he said.

On the possibility of a younger candidate taking the lead, Olarewaju added that Atiku has expressed willingness to step down for a younger candidate if defeated in the primaries, but he remains the strongest opposition candidate.

“The strongest ticket that the opposition can present is the marriage of Atiku and Obi,” he said, stressing that their similar political ideologies make such a partnership feasible and strategically strong.

Dan Poster by — October 6, 2025 in Politics 0
N’Assembly warns workers against disrupting plenary over welfare demands

National AssemblyThe management of the National Assembly has cautioned aggrieved parliamentary workers against carrying out their planned protest and picketing of the complex as lawmakers resume plenary on Tuesday.

The warning followed threats by some members of the Parliamentary Staff Association of Nigeria to embark on industrial action over alleged unresolved welfare and constitutional issues affecting staff.

In a circular issued on Sunday by the Secretary, Human Resources and Staff Development, Essien Eyo Essien, on behalf of the Clerk to the National Assembly, Kamoru Ogunlana, the management warned that any attempt to disrupt legislative activities would attract severe disciplinary measures.

Essien stated, “It must be emphasised that membership of PASAN or any union is entirely voluntary. Any staff member, whether an executive or regular member, who is dissatisfied with the conduct of union affairs may freely withdraw their membership in accordance with established rules.”

He explained that within seven months of assuming office, the current management had embarked on several administrative reforms aimed at improving efficiency and boosting staff morale.

Essien further warned, “In light of recent developments, the Management hereby instructs all Staff to ignore any calls for industrial action, including ‘work-to-rule’ or ‘unlawful picketing’. Your safety and security within the National Assembly Complex are assured, and we urge you to proceed with your official duties without any fear or intimidation.”

He directed the self-styled “Concerned PASAN Members” to desist from their planned protest, saying any defiance would lead to “severe disciplinary action.”

The circular added, “Finally, the management remains committed to transparency, accountability, and the overall well-being of staff.”

The warning came on the heels of a letter by some “Concerned PASAN Members” dated October 3, 2025, and addressed to the Clerk of the National Assembly, accusing management of harassment and intimidation of union members demanding transparency and adherence to the PASAN Constitution (2015).

The petition, jointly signed by M.C. Odo, Yusuf Mohammed Abiola, and Chinenye Peace Nda, alleged that workers were being queried and threatened with suspension for insisting on the presentation of audited accounts to the congress as required by the union’s constitution.

They cited constitutional provisions mandating union executives to prepare annual budgets, circulate audited accounts and balance sheets, and ensure compliance with statutory financial obligations—arguing that management’s interference undermines internal democracy and accountability.

The group also criticised the recognition of executive officers earlier removed by Congress, describing the move as “a violation of due process and the union’s internal democracy.”

Beyond union matters, the concerned workers accused management of neglecting long-standing welfare issues, including correction of salary shortfalls, remittance of statutory deductions (tax, pension, and housing fund), full implementation of the Consolidated Legislative Salary Structure, and payment of allowances covering rent subsidy, leave, hazard, and medicals.

They also demanded the implementation of the 40% consolidated peculiar allowance approved in 2023 for federal workers, provision of official vehicles for directorate staff, staff buses for junior cadres, and training templates for capacity development.

Other demands include the implementation of the National Assembly Service Pension Board (Establishment) Act, 2023, and the immediate application of the new minimum wage and its consequential adjustments.

As tension mounts ahead of Tuesday’s plenary resumption, observers have posted that how the management handles the workers’ grievances could determine whether normal legislative business proceeds smoothly or faces disruption at the heart of Nigeria’s lawmaking complex.

Dan Poster by — October 6, 2025 in General News 0
SERAP demands details of N14tn fuel subsidy savings spending

Socio-Economic Rights and Accountability Project

The Socio-Economic Rights and Accountability Project has called on the 36 state governors and the Minister of the Federal Capital Territory, Mr Nyesom Wike, to urgently disclose the spending details of the estimated N14tn fuel subsidy savings collected from FAAC allocations.

The organisation wants information on the locations of projects executed with the funds, their implementation status, and any completion reports, if available.

SERAP also urged the governors and the FCT minister to provide details of plans for future fuel subsidy savings expected from FAAC allocations and any projects earmarked for such funds.

“There is a legitimate public interest for governors and the FCT minister to urgently explain how they have spent the money they have so far collected from the subsidy savings,” SERAP Deputy Director, Kolawole Oluwadare, stated in a Freedom of Information request dated October 4, 2025.

SERAP called for the Independent Corrupt Practices and Other Related Offences Commission and the Economic and Financial Crimes Commission to monitor the spending to ensure that the funds are not diverted into private pockets.

“The savings from the removal of fuel subsidy ought to be spent solely for the benefit of the poor and vulnerable Nigerians who are bearing the brunt of the removal. Transparency in the spending of the money would help avoid a morally repugnant result of double jeopardy on these Nigerians,” the organisation said.

SERAP highlighted that, despite the large allocations collected since mid-2023, increased FAAC disbursements have not translated into improved access to basic public services, such as healthcare and education, for the poor and vulnerable.

“There is a significant risk of mismanagement or diversion of funds linked to the increased FAAC allocations collected by the states and FCT,” SERAP said.

“The spending details of the money collected by several states and the FCT from fuel subsidy savings have been mostly shrouded in secrecy. Millions of poor and vulnerable Nigerians have not benefited from the trillions of naira collected by the governors and FCT minister as a result of the subsidy savings. Nigerians continue to face a worsening poverty crisis.”

The organisation also pointed to lavish spending by some states, including funding unnecessary travels, buying exotic and bulletproof vehicles, and supporting politicians’ luxurious lifestyles.

“Opacity in the spending of fuel subsidy savings collected by you would continue to have negative impacts on the fundamental interests of citizens and the public interest. Transparency would ensure that public funds are not diverted into private pockets,” SERAP said.

SERAP requested that the information be disclosed within seven days of receiving or publishing the request, warning that legal action would be considered if the states or FCT failed to comply.

“Disclosing the details of the spending of the money collected by your state as fuel savings would allow Nigerians to scrutinise them and hold you to account on the spending of public funds. Nigerians have the right to know how their states and FCT are spending the savings from the removal of fuel subsidy as part of their human right to information,” Oluwadare said.

According to SERAP, FAAC distributed N28.78tn from petrol subsidy removal to the three tiers of government in 2024, representing a 79 per cent increase from the previous year.

State governments’ allocations increased by 45.5 per cent to N5.22tn, with monthly distributions in 2025 reportedly exceeding N1.6tn.

“Despite these increased allocations, millions of poor and socially vulnerable Nigerians have not benefited. Many states reportedly owe civil servants’ salaries and pensions, and continue to borrow to pay salaries. Millions of Nigerians continue to be denied access to basic public services,” SERAP said.

The organisation emphasised that years of allegations of corruption and mismanagement have undermined public trust in governments at all levels.

“Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power. Section 16(2) further provides that the material resources of the nation are harnessed and distributed as best as possible to serve the common good. Section 13 imposes clear responsibility on public institutions to conform to, observe and apply the provisions of Chapter 2 of the Constitution,” SERAP noted.

Dan Poster by — October 6, 2025 in General News 0
Constitution review: Reps panel meets political parties today

House of RepresentativesThe House of Representatives Committee on Constitution Review will today (Monday) meet with the leadership of registered political parties in the ongoing move to amend the 1999 Constitution.

Chaired by the Deputy Speaker of the House, Benjamin Kalu, the committee has identified key areas of possible amendments to the nation’s extant laws, including state police, power revolution, local government autonomy and special seats for women, among others.

The committee, a few weeks ago, toured the six geopolitical zones, collating stakeholders’ input on the constitution review process and is expected to submit a final draft to the National Assembly in December 2025 for adoption.

In a statement issued on Sunday by the House spokesperson, Akin Rotimi, the Green Chamber said the session “will feature deliberations on priority areas, such as special seats for women, judicial and electoral reforms, independent candidacy, local government reforms, state policing, human rights, and justice.

“It will also provide political parties with an opportunity to make inputs, share perspectives, and contribute meaningfully to discussions on key national issues.”

Speaking ahead of the engagement, Kalu described the meeting as a strategic platform for political parties to bring their experience and institutional insight to bear.

“Political parties remain the engine room of our democracy, and their active participation in this consultation is vital to achieving constitutional amendments that are inclusive, credible, and reflective of the collective aspirations of Nigerians,” he said.

The statement added that a summarised compendium of the bills currently under consideration by the committee “has been prepared to guide discussions during the engagement

Dan Poster by — October 6, 2025 in General News 0
Cooking gas prices stay high despite PENGASSAN strike suspension

PENGASSANThe price of cooking gas remains high despite the suspension of the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria last week, leaving residents of Lagos, Ogun and other states in the South-West in utter despair.

Meanwhile, the National Association of Liquefied Petroleum Gas Marketers has assured Nigerians that the ongoing scarcity of cooking gas, which led to price hikes across major cities, would ease within days as supply gradually resumes.

Nigerians, especially women in the South West, lamented that they started buying gas at prices between N1,300 and N1,600 per kg since last week when PENGASSAN shut down major gas facilities to protest the sack of 800 workers by the Dangote refinery.

“I bought gas at N1,600, and it is still like that until this weekend,” Oluwakemi Mobolaji, a resident of Ota, Ogun State, told one of our correspondents.

A native of Ibadan, Oyo State, Abefe Taiwo, said she refilled cooking gas at N1,300 at a major gas station in Challenge, Ibadan.

“I don’t know when the price of gas will go down. The PENGASSAN strike has been suspended. Why is gas still expensive?” Adeola, a Lagosian, said on Sunday.

It was observed that a number of gas stations have run out of supply since last week.

There were queues in the few gas stations selling LPG as of Sunday.

Speaking with The PUNCH on Sunday, the National President of the National Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, explained that the shortage was largely limited to the South-West and was caused by recent maintenance works at the Dangote facility, compounded by a strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria.

“The scarcity is not nationwide. Gas is available in the South-South and East, but the South-West experienced shortages due to recent disruptions. Maintenance was carried out at Dangote, and immediately after that, PENGASSAN embarked on strike, which delayed vessels carrying gas from NLNG. Now that terminals have resumed trucking, the backlog will take two to three days to clear,” Oladapo said.

He disclosed that Dangote had started issuing pro forma invoices to off-takers and resumed trucking out products, a move expected to stabilise supply in the coming days.

However, an oil and gas expert, Olajire Jeremiah, said the vacuum created during the three-week pause in Dangote’s sales triggered panic buying and opened the door for sharp price hikes.

“Dangote only resumed selling on Wednesday, after being out of the market for about three weeks. Importers also stayed away, claiming it was difficult to compete with Dangote’s lower pricing. This created a supply vacuum. Scarcity always comes with a price hike, and retailers took advantage,” the Chief Executive Officer of Petroleumprice.ng

As of Wednesday, Dangote was selling LPG at N810 per kilogram, while other depots, including Ardova and Nipco, priced the product at N910–N920 per kg, a margin of N100 per kg.

In Abuja, retail outlets sold cooking gas for as high as N1,400 per kg. A retailer in Kuje confirmed switching suppliers after long delays at their primary source. “Gas is now both expensive and scarce. We’ve had to buy from new suppliers since our usual depot could not meet demand,” the retailer lamented.

Marketers maintain that the resumption of sales by Dangote and continued trucking from depots would normalise supply across the country in the next one to two weeks, urging consumers to remain patient.

Dan Poster by — October 6, 2025 in Business 0
Petrol remains N865/litre amid Dangote’s free delivery

Despite receiving petrol at N820 per litre with no logistics costs, partners of the Dangote Refinery have yet to reduce pump prices at their filling stations.

Findings by The PUNCH on Sunday revealed that Heyden, AP, MRS and other major partners continued to sell petrol at N865 per litre.

Apart from a few MRS outlets in Lagos that adjusted their prices to N841 per litre, most stations maintained the previous rates. The MRS station at Alapere experienced long queues as motorists rushed to buy petrol at N841, while others along the same axis sold for N865 per litre.

However, at the MRS station in Olowotedo, along the Mowe–Ibafo axis of Ogun State, petrol sold for as high as N875 per litre. Heyden offered N863, while Ardova and others retained prices between N865 and N870 per litre.

Recall that marketers, including Conoil, Eterna, Golden Super, Nepal Energies, Kifayat Global Energy, and Riquest and Gas, had partnered with the Dangote Refinery under its logistics-free fuel distribution scheme.

The refinery had earlier announced that from Monday, September 15, petrol prices were expected to drop following the rollout of more than 1,000 compressed natural gas-powered trucks to enable direct fuel distribution across the country. According to Dangote, the initiative was designed to cut logistics costs and reduce the ex-depot price to N820 per litre, translating into lower pump prices nationwide.

Under the new pricing framework, motorists in Lagos and other South-Western states were expected to pay N841 per litre, while those in Abuja, Rivers, Delta, Edo and Kwara states were projected to buy at N851 per litre.

The adjustment was meant to take immediate effect in selected states, with a nationwide rollout to follow as more CNG trucks were deployed. However, nearly three weeks later, the anticipated relief has not materialised, as most filling stations continue to sell at old rates.

Our correspondent observed several Dangote CNG trucks along the Lagos–Ibadan Expressway, confirming the commencement of the direct, logistics-free fuel distribution scheme.

Some marketers claimed that they had not reduced prices because they still held old stock purchased at higher costs, saying adjustments would be made once the new supplies reached their tanks.

However, a source at the Dangote Refinery told The PUNCH that many of the marketers had already received new supplies and had no justification for maintaining prices above N841 or N851 per litre, depending on their location.

“It’s unfair to keep selling at old rates. They are receiving the product at N820 per litre with free logistics, yet they’re still selling higher, that’s not right,” the source, who requested anonymity, said.

The source further explained that the refinery could not enforce pump prices.

“We can’t compel them as before. It’s purely on recommendation, since marketers insist the law does not permit us to fix pump prices, and NMDPRA seems to agree,” the official noted.

“Those who submitted their station lists are already getting supplies. We would have covered more ground if not for the PENGASSAN issue, but by this new week, we expect wider coverage. Still, marketers should understand that Nigerians are watching and expecting new prices; that’s why you see queues at the MRS station in Alapere,” the source added.

Meanwhile, not all stakeholders have welcomed Dangote’s frequent price adjustments. The Depot and Petroleum Products Marketers Association of Nigeria recently criticised the refinery’s pricing strategy, saying the timing of its cuts often disrupts market stability.

DAPPMAN Executive Secretary, Olufemi Adewole, argued that portraying the price reductions as patriotic gestures ignored their broader implications.

“Claims that repeated fuel price reductions by the Dangote Refinery are patriotic overlook their timing and market impact. These cuts are often introduced when other importers have active cargoes at sea or in tanks, creating price shocks that distort competition and impose financial strain on market participants — including the refinery’s own domestic customers,” Adewole said.

For over a year since commencing petrol production, the Dangote Refinery has effectively taken over as the market’s price trendsetter, displacing the Nigerian National Petroleum Company Limited from its traditional role.

NNPC spokesperson Andy Odeh confirmed that the company had not adjusted its rates.

“Our current pump price in Lagos remains N865. We have not made any changes,” he said.

Independent marketers had previously pledged to review pump prices once they began receiving supplies from Dangote, but as of Sunday, no adjustments had been made.

Dan Poster by — October 6, 2025 in Business 0
SON To Hold 2025 World Standard Day to support Sustainable Development Goals

The Standards Organisation of Nigeria, SON, would join the rest of the world to celebrate the 2025 World Standards day with a focus on the Sustainable Development Goals,SDG.

Announcing SON’s participation in a statement, the organisation’s Director, Corporate Affairs –Mrs Talatu Ethan –stated that the event would be commemorated as usual with a “Walk For Standards” on Saturday, 11th October.

The day is celebrated globally to commemorate the collaborative efforts of thousands of experts worldwide who developed voluntary technical agreements known as international standards.

Last year’s edition was a huge success with the day used to draw necessary attention to Artificial Intelligence.

The Worlds Standards Day has therefore become a veritable platform which stakeholders in different sectors of the economy look forward to for enlightenment, not only on updates on standardization issues, but also on key global issues that are impacting businesses and living.

Giving details of the event, Ethan stated; “The Theme of the 2025 Worlds Standards Day is: Shared Vision For a Better World: Spotlight on SDG 17: Partnership For the Goals. The great occasion will be marked with a “Walk For Standards” to raise awareness on the critical role of Standards in everyday life and in achieving the Sustainable Development Goals.

“This will be on Saturday, 11th October, 2025, at 8.00am and participants would converge at SON’s Ogba office, from where we will be walking through Adeniyi Jones to Aromire street and then to Allen Avenue Junction, and from there to Ikeja bridge by Awolowo House Roundabout, to the popular Computer village, to Oba Akran avenue, back to SON’s Ogba office.”

The Director said the Director General of SON –Dr Ifeanyi Chukwunonso Okeke – would be delighted to have as many Nigerians as possible, plus foreigners living in the country, to participate in the programme.

“Indeed, everyone is invited. Participation is free and we will be pleased to have people trooping in for the walk as a demonstration of their commitment to Standards and Sustainability, just as the event can be maximized for exercise, networking and possible business opportunities”, Ethan also stated.

Dan Poster by — October 6, 2025 in General News 0
Seplat Energy Ties Africa’s Prosperity To Domestic Gas Development

Seplat Energy Plc, leading Nigerian independent energy company, says that domestic gas remains the engine of prosperity for Nigeria and Africa in general – from powering homes, to fuelling industry and providing a cleaner alternative for cooking and transportation. This informed the company’s heavy investment in gas processing capacity devoted to the domestic market, including the ANOH gas plant which is expected to come on stream before the end of the year.

 

The Director, New Energy at Seplat, Mr. Okechukwu Mba, said this at the 2025 Africa Energy Week (AEW) held in Cape Town, South Africa. Mba, who spoke during a panel discussion titled “Beyond Exports: Developing Commercially Viable Domestic Gas Markets”, said stakeholders need to ensure that the challenges in the gas to power value chain from molecules at the wellhead to electrons in homes are addressed for Nigeria to realize the goal of increased power supply to Nigerians. He also emphasized the importance of a commercially viable power sector which is critical to achieving growth in the domestic gas market. 

 

He said: “Bankable anchor customers are needed to underpin the development of new gas projects whilst identifying infrastructural challenges in power transmission and distribution as well as the liquidity crises in the power sector as two areas that require urgent attention in order to unlock new gas projects.   Mba highlighted that Seplat Energy currently supplies gas to five (5) power stations in Nigeria which underscores its commitment to the power sector, noting that gas is well positioned to provide reliable and affordable base load energy to drive to economic growth.

 

According to Mba, Seplat Energy adopts a comprehensive approach to growing the domestic gas market.  “Beside investments in pipeline gas projects, Seplat is also investing in Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) facilities,” he added.

 

In addition to the significant volumes of butane now supplied to the domestic market from its NGL plant in Bonny River Terminal, Seplat Energy also intends to commence delivery of LPG from its Sapele and ANOH gas plants before the end of the year. This, Mba said, will make Seplat Energy one of the leading suppliers of LPG, displacing biomass and providing a cleaner cooking fuel that will improve the health and living conditions of Nigerians.   He added that Seplat Energy’s investment into CNG was to make gas available to customers not currently connected to the domestic gas pipeline network.

 

The New Energy boss at Seplat stated that the company plans to take its operated gas production to over 1 Bcf/d by 2030, while noting that the recent incentives granted by government to the gas sector will aid the achievement of this goal. 

 

In a related development, the Director External Affairs & Social Performance, Seplat Energy, Chioma Afe, who featured in a panel discussed dubbed “Bureaucracy or Bridge? Tailoring Global ESG Approaches for African Realities”, said in all the company’s moves in driving to drive access to reliable and affordable energy for Nigerians, ESG fundamentals are strongly upheld and practicalised.  

 

According to her, the peculiarities of the Nigerian people and Africa at large remain very germane in implementing Seplat Energy’s ESG framework and affirming its commitments.

 

She said: “For a truly successful and impactful ESG implementation, it is highly imperative to move from a “one size fits all” mindset, to a co-created framework and implementation that is focused on value creation and empowers African nations to define their own sustainable growth plan. One that ensures ESG principles become a bridge across industries and countries driving growth and not a bureaucratic exercise.” 

 

“Adapting ESG to local needs is key. Therefore, we should explore customizing global ESG frameworks to address the unique socio-economic conditions, developmental challenges, including infrastructure, education and healthcare, as well as vulnerabilities to climate change and economic empowerment, across the continent.”

 

Speaking to the company’s model, she noted that: “At Seplat Energy, our approach has been a regular and systematic process of identifying and analyzing the development ‘gaps’ in our areas of operation and partnering with our communities to define project goals, prioritize resources and develop effective strategies to achieve them.”

Dan Poster by — October 6, 2025 in Business 0