All Posts in "Dan Poster"

Nigeria At 65: Chevron Sees Brighter Future In Oil And Gas Sector

Chevron Nigeria has said it is expanding deepwater production in Nigeria in a sustained effort to expand new growth opportunities.

The Company said it is committed to further exploration and development of oil and gas resources by converting its joint venture and deepwater leases under the Petroleum Industry Act (PIA).

The Chairman and Managing Director, Chevron Companies in Nigeria, Mr. Jim Swartz, while speaking on Nigeria’s 65th independence anniversary, said the Company is proud of its partnership and contribution to the social and economic development of the country.

In over six decades of operation in Nigeria, Chevron Nigeria has continued to make significant investments in the country that have helped generate socio-economic development in several communities across Nigeria, Swartz said.

To further boost its business development, the Chairman said Chevron is executing infill drilling programs as part of its efforts to improve the current production base upon which the future can be sustained, and has also signed a 20-year renewal of four deepwater leases, in addition to planned infill drilling to mitigate production decline in its Agbami hub, non-operated Usan hub, and support for continued maturation of the Owowo development

He said entry into Oil Prospecting License 215 aims to boost deepwater development opportunities, while completion of seismic data acquisition across several of its deepwater leases aims to position itself for future exploration and demonstrate Chevron’s commitment to future growth in Nigeria.

The Chairman also mentioned the near-field discovery with the successful drilling of the Meji NW-1 appraisal well.

Swartz, while offering explanation on the business perspective of Chevron Nigeria said, “At Chevron Nigeria, we strive to build lasting relationships to help enable human progress now and into the future. Chevron has a long commitment to Nigeria. We have been making significant investments in Nigeria for over 60 years, contributing to the growth and development of the country.”

According to him, “Chevron Nigeria produces oil and natural gas from various fields, supplying domestic and international markets, while utilizing natural gas to produce diesel and naphtha. The joint venture between Chevron Nigeria Limited (CNL) and the Nigerian National Petroleum Company Limited (NNPCL/CNL JV) is one of the major natural gas suppliers to Nigeria’s domestic market and remains ahead in maximizing the supply of on-spec gas in the domestic and regional markets.”

He added that Chevron Nigeria has been successful in leading and investing in major initiatives which include the development of the Deep Water Agbami project which has produced over 1 billion barrels of oil; the development of the Escravos Gas Plant facility to enable the reduction of gas flares, processing of gas and the development of the Escravos Gas-to-Liquids (EGTL) facility.

The EGTL facility has helped to significantly reduce gas flaring and produce high quality products, including refined diesel.

Also, in partnership with other private and state entities from the Economic Community of West African States, Chevron led the development of the ~700km West African Gas Pipeline project through which Nigeria supplies gas to Benin, Togo, and Ghana, helping to boost economic development in the region.

“We prioritize local content and human capacity building as over 90% of our workforce in the country are Nigerians. We also provide contract opportunities to Nigerian companies in all our projects. Chevron supports the PIA, and we commend the efforts of the Federal Government of Nigeria to reposition the oil and gas industry for growth through several industry regulations,” Jim further stated.

 

Olusoga Oduselu, Chevron Nigeria’s General Manager, Corporate Affairs, highlighted the company’s focus on helping to engender the development of communities in the Niger Delta through the legacy Global Memorandum of Understanding, the current Host Community Development Trusts and the Foundation for Partnership Initiatives in the Niger Delta.

According to Olusoga, “Chevron Nigeria’s social investment footprint extends beyond its areas of operation. Among other health initiatives, Chevron Nigeria built and donated a DNA Molecular laboratory to the University of Lagos Teaching Hospital, and the facility is very significant to medical research in Nigeria.

At the height of the coronavirus (“COVID-19”) pandemic, Chevron Nigeria donated a Polymerase Chain Reaction laboratory to Warri Central Hospital to support the Delta State government in the fight against the COVID-19 pandemic, in addition to other industry-collaborations. Chevron Nigeria has also implemented health initiatives such as the Roll Back Malaria, Prevention of Mother to-Child transmission of HIV/AIDS and awareness programmes on River blindness.”

 

In its deep offshore operations, Chevron Nigeria has continued to implement projects and programmes in the areas of health, education, and socio-economic development across Nigeria. For instance, Star Deep Water Petroleum Company Limited (a Chevron company) and its parties in the Agbami field have been investing in fighting Tuberculosis (TB) with the construction and equipment of chest clinics in Nigeria to support the treatment and care of tuberculosis patients in Nigeria. Currently, twenty-eight such chest clinics, fully equipped with standard X-Ray machines, male and female wards, treatment rooms, laboratories and Gene Xpert Machines have been completed across the country to support Nigerian health system. The Agbami parties have also donated nine (9) mother-and-child health care centers and one medical diagnostics laboratory in some States in Nigeria. Some of the donated chest clinics and mother and childcare centers became useful for COVID-19 response in some states during the heat of the pandemic.

Chevron Nigeria continues to support development of education in the Niger Delta region and across the country through development of education infrastructure, capacity building and scholarships.

The scholarships include: the NNPC/CNL JV’s national university scholarship and the community scholarship program which caters for students in both secondary and tertiary institutions from communities in Chevron Nigeria’s areas of operations. Additionally, Chevron Nigeria awards scholarships to visually impaired students to enhance their access to quality education. Over 23,000 people have benefitted from the company’s scholarship programs which include scholarship for community postgraduates’ scholars in Nigeria and foreign universities.

Since inception of the Agbami Medical and Engineering Professional Scholarship programme in 2009, over 16,500 students from all the states of Nigeria have benefitted from the scholarship, out of which 715 students have graduated with first class degrees. Chevron Nigeria and its Deepwater parties have continued to invest in education infrastructure.

The parties have executed 39 Science laboratory complexes and 25 conventional and hybrid libraries across the country. Also, Chevron and its partners take a wide-ranging activity to encourage students to develop interest in key subjects of Science, Technology, Engineering, and Mathematics and, ultimately, pursue STEM courses and career.

Chevron Corporation has also sponsored certain global health and environmental-related initiatives that have an impact in Nigeria.

These efforts include the contribution to Global Fund against HIV/AIDS, malaria, and TB which has benefitted Nigeria in the areas of providing access to lifesaving antiretroviral therapy for people living with HIV, provision of long-lasting insecticide-treated mosquito nets and detection of tuberculosis cases. Also, as part of its efforts in environmental conservation, Chevron Nigeria with the support of Chevron Corporation, built and donated the Lekki Conservation Centre to the Nigerian Conservation Foundation in 1992.

The 78-hectare facility has become a center of excellence in environmental research and education, reserved as a sanctuary for the rich flora and fauna of the Lekki Peninsula, Lagos.

The CNL also sponsors the Junior Tennis tournament, the National Arts competition, and other activities by various organizations.

 

Chevron Nigeria is optimistic about the future of the oil and gas business in Nigeria. As the Chairman/Managing Director emphasized: “Chevron remains committed to our partnership in ensuring safe, reliable, and efficient operations in Nigeria and delivering a reliable, ever cleaner, and efficient energy supply for Nigeria, the West African region, and the world.”

Dan Poster by — October 1, 2025 in Business 0
World Bank Extends $500 Million Loan To Facilitate Nigeria’s BRIDGE Digital Project

The World Bank has approved a $500 million financing package for Nigeria under the BRIDGE project (Building Resilient Digital Infrastructure for Growth). Led by the Ministry of Communications, Innovation and Digital Economy, the program aims to address structural gaps that limit broadband access in underserved areas.

With a total cost of $1.6 billion, the project will be largely supported by $1.1 billion in private investment, with additional backing from the African Development Bank, the European Investment Bank, and the Islamic Development Bank.

It includes the rollout of about 90,000 km of climate-resilient fiber optic cable, powered where necessary by renewable energy solutions. The implementation plan features seven national rings, 37 metropolitan loops, 77 regional networks, and several edge data centers.

The government’s target is to expand the national backbone from its current 35,000 km to more than 125,000 km, covering 70 per cent of the population in the near term. “Over the past two years, we have worked tirelessly on what is arguably the most ambitious and fundamental digital infrastructure project in Nigeria’s history,” said Minister of Communications, Innovation and Digital Economy Bosun Tijani in August, during the technical design presentation of BRIDGE.

The move comes as Nigeria faces a slowdown in broadband growth. According to the Nigerian Communications Commission (NCC), combined fixed and mobile internet penetration fell to 48.01 per cent in July 2025, down from 48.81 per cent in May. Total connections also declined, from 105.7 million in June to about 104 million in July, highlighting the urgency of expanding the country’s digital infrastructure.

By strengthening Nigeria’s digital backbone, the BRIDGE project is expected to support more inclusive economic growth, enhance delivery of digital public services in health, education, and governance, and boost the fintech and startup ecosystem.

Dan Poster by — October 1, 2025 in Business 0
Dangote Refinery Accuses Unions Of Chasing Check-Off Dues, Not Workers’ Welfare

Dangote Petroleum Refinery has accused the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Trade Union Congress (TUC) of prioritising union dues and personal interests over workers’ welfare, following fresh calls by the unions for industrial action.

 

In a strongly worded statement issued on Monday, the refinery described the TUC as “zombie-like” for declaring “full solidarity” with PENGASSAN and threatening nationwide strike action against its management, without making any effort to verify the claims on which the action was based.

 

The refinery noted, “We are told that he who hears only from one side and passes judgment without hearing the other side is a fool. Unfortunately, the Trade Union Congress has placed itself in that position. Without hearing from Dangote Refinery, the Congress has passed a guilty verdict on the Refinery’s management and now parrots the PENGASSAN line, zombie-like, calling ‘for a national industrial action if Dangote management fails to comply with’ its demands.”

 

Dangote Refinery accused the unions of being driven solely by the desire to secure check-off dues. The company cited comments by PENGASSAN President Festus Osifo, who, in a recent interview with Channels Television, stated that the union had written to Dangote Refinery to begin remitting dues the day after workers allegedly unionised.

 

In its statement, the company dismissed both unions as self-serving and controlled by “oligarchs”, insisting that their real agenda is not the protection of workers but the preservation of their financial interests.

 

“PENGASSAN and TUC are two peas in a pod. They are twins from the same womb. Their interests do not extend beyond themselves and the oligarchs that run their affairs. The monthly check-off dues and other subscriptions and scams that feed their lifestyles are the primary concern and interests of these oligarchs. At least, one of them, Festus Osifo, President of PENGASSAN admitted that much on national television very recently.”

 

The statement added, “During his interview with Seun Okunbaloye on Channels TV, Mr. Osifo purported that “the workers” in Dangote Refinery “unionized . . . on Monday and we sent a letter to them at Dangote Refineries informing them of the decision and asking the organization to remit their dues from source, on Tuesday”. If we must believe Mr. Osifo’s account – and Dangote Refinery is not thereby admitting the accuracy of his account – the PENGASSAN oligarchs could not even wait for 24 hours after the purported unionization before demanding for their monthly check-off dues. And on account of these monthly check-off dues, PENGASSAN and its collaborators and co-conspirators – one of whom revealed itself as Trade Union Congress – are ready to plunge Nigeria and Nigerians into utter darkness and anarchy.”

 

It further alleged that neither PENGASSAN, TUC, nor allied unions such as NUPENG have offered accountability for the funds collected from workers. Instead, it accused them of funding “lavish and opulent lifestyles”.

 

“Meanwhile, none of these Unions – PENGASSAN, TUC, NUPENG and its other unnamed co-travellers – bothers to give an account to their members and the Nigerian public of these monthly check-off dues. We only see the proof of these check-off dues’ payments in their lavish and opulent lifestyles. It is time Nigerians stood up against these enemies of progress,” the company said.

 

The refinery called on the Federal Government to resist what it described as attempts by union leaders to return Nigeria to “the dark ages” of energy insecurity and industrial sabotage.

 

It declared, “Dangote Refinery is a national asset that requires our collective protection and prayers. To paraphrase the TUC Press Release, TUC and its cohorts, ‘regardless of size or wealth’ must not ‘be allowed to trample on the dignity and rights of’ 230 million Nigerians.”

 

The refinery challenged the unions to publish their financial records, “Finally, we demand that TUC join its co-travellers, PENGASSAN and NUPENG in publishing its 10-year audited accounts. Surely, the workers in whose name they all purport to be working, deserve to know what the Unions have been doing with their monthly check-off dues.”

Dan Poster by — October 1, 2025 in Business 0
CBN Governor Champions Next-Gen Leadership with New National Lecture Series

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, will deliver a landmark lecture at Lagos Business School on Friday, October 3, 2025. The lecture, titled “Next Generation Leadership in Monetary Policy & Nation Building,” marks the launch of the CBN Governor’s Lecture Series, the first in a series of thought-leadership discourses to be held in collaboration with leading tertiary institutions across the country over the next three years.
This inaugural edition also commemorates the second anniversary of Team Cardoso’s leadership at the Central Bank of Nigeria, a period defined by renewed focus on price stability, institutional transparency, and anchoring monetary policy to the everyday realities of Nigerians.
The Governor’s Lecture Series, part of Mr. Cardoso’s broader Knowledge Acceleration and Thought Leadership Initiative, is central to the CBN’s strategy of deepening public understanding and strengthening the transmission of monetary policy. It aims to foster dialogue, promote innovation, and advance an inclusive financial system that works for all Nigerians, while positioning the country as a leader on both the African and have global stages.
Since assuming office in September 2023, Mr. Cardoso has consistently emphasized linking central banking to the daily realities of citizens. He has stressed that the Bank’s core mandate, safeguarding price stability, is essential to driving sustainable economic growth and protecting livelihoods.
“Nigeria is at a pivotal moment, where technology, global financial realignments, and the energy of its youthful population are reshaping its economic future. Innovation must be harnessed intentionally and confidently, particularly by institutions like the CBN,” Cardoso noted in an earlier engagement.
The lecture is expected to attract senior policymakers, industry leaders, academics, and students, underscoring the crucial role of monetary policy in fostering stability, growth, and national development.
Dan Poster by — October 1, 2025 in Business 0
Nigeria at 65: Anambra election must be fair, credible – IPAC charges INEC, politicians

The Inter Party Advisory Council, IPAC, has called for a free, fair, credible and inclusive governorship election in Anambra State slated for 8th November, 2025.

IPAC also urged the Independent National Electoral Commission, INEC, to provide a level playing field for all the political parties and the candidates participating in the election.

It made the call in a congratulatory message to Nigerians on the occasion of the country’s 65th Independence Anniversary.

The body of political parties hailed Nigerians for a milestone in the nation’s democratic governance and saluted the courage and patriotism of the founding fathers and compatriots who fought for the independence from the British colonial masters.

“We call for a free, fair, credible and inclusive governorship election in Anambra State slated for 8th November 2025. We urge INEC to provide a level playing field for all the political parties and their candidates participating in the election,” the statement signed by Dr Yusuf Mamman Dantalle, the National Chairman of IPAC said.

“Politicians should also imbibe issue-based campaigns and eschew politics of bitterness that impedes the nation’s electoral process.

“We should respect the sanctity of the ballot box and ensure that every vote is counted and counts in the overall result. Election is the beauty of democracy, let us rebuild trust in the democratic system ahead of the 2027 general election.”

It added, “Nigerians are a resourceful and resilient people determined to build a better nation in spite of our political, socio-economic and security challenges.”

It urged citizens to use the 65th Independence anniversary as an opportunity for sober reflection and rededicate themselves to the service of the nation bearing in mind that this is the only country they have.

“It is time for action. It is time for patriotism. It is time to deepen the nation’s democracy and look forward to the future with renewed confidence and faith.

“This is our chance to steer the ship of the nation to the path of rectitude, progress, development and advancement, and bequeath to our children, indeed, future generations a peaceful, stable, just and prosperous society.

“Politicians should also imbibe issue-based campaigns and eschew politics of bitterness that impedes the nation’s electoral process.

“We should respect the sanctity of the ballot box and ensure that every vote is counted and counts in the overall result.

“Election is the beauty of democracy, let us rebuild trust in the democratic system ahead of the 2027 general election,” it said.

As the umbrella body of all registered political parties in Nigeria, IPAC said it is unwavering in its commitment to sustainable democracy and development in the country.

“Together, we will build an enduring democracy. We are all in it together.,” the statement added.

Dan Poster by — September 30, 2025 in Politics 0
2027: Yobe APC chieftain Mohammed Bello quits party

A prominent leader of the All Progressives Congress (APC) in Yobe State, Hon. Mohammed Bello, has resigned from the party, describing his decision as a move to “come out from bondage.”

Bello, a former senatorial aspirant for Yobe Zone A, announced his exit along with many of his supporters.

In a resignation letter addressed to the APC Ward Chairman in Gwange, Damaturu, and made available on Monday, Bello said his decision takes effect immediately.

“I am writing to formally notify you of my decision to resign my membership from the All Progressives Congress (APC) immediately,” the letter read in part.

.“This decision has not come lightly; it follows considerable reflection on my personal values and the direction of the party. After much deliberation, I have concluded that it is in my best interest and that of my community to step away from the party at this time.”

Bello thanked the APC for the opportunities he had while in the party, saying the relationships and experiences he gained would remain valuable. He also submitted his membership card along with the letter.

Dan Poster by — September 30, 2025 in Politics 0
Dangote vs PENGASSAN: ‘Act like dictator’ – Ndume tells Tinubu how to end crisis

Borno South Senator, Ali Ndume, has called on President Bola Tinubu to sign an executive order towards resolving the crisis between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN.

Ndume said he won’t mind if Tinubu acts like a dictator in ensuring that the crisis is resolved.

On Saturday, PENGASSAN ordered its members to down tools over the sack of 800 workers by Dangote Refinery.

Reacting, Ndume appealed to the president to take firm action and dissolve the union.

Featuring on Arise Television’s Prime Time on Monday, Ndume said: “The best thing is for the president to sign an executive order calling them off.

“He has the right to dissolve them. In this case, I don’t mind if he acts like a dictator because some situations require very drastic measures.”

He accused PENGASSAN of serving private interest rather than that of the public.

Ndume said he has long opposed “so-called unionism” that prioritises the benefits of a few individuals at the expense of the country.

Dan Poster by — September 30, 2025 in General News 0
‘Regrettable’ – FG reacts to death of Arise TV’s Somtochukwu Maduagwu

Minister of Information and National Orientation, Mohammed Idris, has described the death of Arise News anchor, Ms. Somtochukwu Christelle Maduagwu as regrettable and a grievous loss not only to her immediate family and the Arise News team, but to the Nigerian media fraternity and indeed, the nation.

In a letter of condolence he signed and addressed to the Chairman of the Arise News channel, Chief Nduka Obaigbena, Idris, stated, “I write to convey our deepest condolences to you and the entire ARISE News family on the shocking and untimely death of your esteemed anchor, Ms. Somtochukwu Christelle Maduagwu, who by every account was a vibrant and a dedicated news anchor, consummate lawyer, and a model of professionalism whose work resonated with audiences across Nigeria and beyond.”

Idris said he was saddened by the “heinous incident that cut down a promising young journalist in her prime,” adding that “Ms Somtochukwu’s tragic death is a grievous loss not only to the ARISE News family but to the Nigerian media fraternity, and indeed the nation.”

He gave assurances for a swift investigation to unravel the circumstances leading to the death of the late news anchor.

The Minister extended his “heartfelt sympathy to the parents, siblings, colleagues, and all who knew and loved the late news anchor,” and prayed that God grant them the fortitude to bear the loss.”

Dan Poster by — September 30, 2025 in General News 0
Makinde beats predecessors’ IGR record, targets N100bn – Oyo

Oyo State Governor, Seyi MakindeThe Oyo State Government has said that the state’s Internally Generated Revenue  has grown more than fourfold under Governor Seyi Makinde, positioning it as a leading financial hub in Nigeria.

The Commissioner for Information,  Dotun Oyelade, stated this on Monday while reacting to a report by the State Performance Index, which ranked Oyo as the best place to live in Nigeria based on quality of life, functional infrastructure, service delivery and security.

He said the Makinde administration had raised the state’s IGR from the N15bn mark under previous governments to N65bn in 2024. As of July 2025, collections had already hit N58bn — just N7bn short of the 2024 total.

“The implication of these figures is that the state will surpass its own record by the end of this year, with a target close to N100bn, making Oyo sit comfortably as a leading financial hub in the country,” Oyelade said.

According to him, the surge in revenue has not increased the burden on investors. Instead, the state has expanded its economy through agribusiness, infrastructure and tourism, while the consistent payment of salaries has further boosted economic activity.

“This expansion of the economy, coupled with the ripple effect of consistent payment of N11.9bn to over 130,000 workers monthly, has had a salutary effect on the increasing IGR of the state,” Oyelade noted.

He added that N15.4bn was paid as salaries in September alone, higher than the usual N11.9bn.

On healthcare, the commissioner said the administration had upgraded 264 primary healthcare centres and recruited more than 3,900 professionals, significantly restoring the state’s healthcare system.

He recalled that during a recent courtesy visit to the Governor’s Office, UNICEF Country Representative, Celine Lafocriere, commended Oyo’s achievements, noting that UNICEF had engaged more with Oyo than with any other state in Nigeria in the past two years.

On education, Oyelade highlighted sweeping reforms, including a doubling of staff strength in primary schools from 13,730 in 2019 to 26,436 in 2025. He said over 10,500 teaching and non-teaching staff had been employed to boost academic performance and improve the standard of living for young people.

He added that the government had built 60 model schools, constructed 289 new classroom blocks, renovated 229 others, and reintegrated more than 60,000 out-of-school children.

Additionally, four new educational zones had been created with administrative structures, while 2,000 teachers were absorbed into the Teaching Service Commission  to further strengthen efficiency.

Dan Poster by — September 30, 2025 in General News 0
NELFUND closes loan application for 2024/25 academic session

Chief Executive Officer of NELFUND, Akintunde Sawyerr

The Nigerian Education Loan Fund  has announced the closure of its application portal for the 2024/2025 academic session, effective from today (Tuesday).

According to the Fund, the move signals the completion of its second full cycle and will allow it to finalise the processing of pending applications and upkeep payments.

In a statement signed on Monday by its Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND also released timelines for the next round of applications.

The portal will reopen in the second week of October 2025 for the 2025/2026 academic session and remain accessible until January 2026.

The Fund urged institutions to promptly update their students’ records on the Student Verification System to enable eligible applicants to participate in the new cycle. Institutions yet to commence a new academic session within the stated window were asked to notify NELFUND for possible concessions.

“All applications for the 2024/2025 academic session that remain unverified by institutions after October 8, 2025, will be automatically cancelled.

Students in this category are strongly encouraged to prompt their school management to complete the verification process before the deadline. Affected students will have to submit fresh applications for the 2025/2026 academic year,” the statement read.

NELFUND further disclosed that some students’ applications remained unapproved or unpaid due to institutions’ failure to complete the mandatory verification process.

“NELFUND is actively engaging with such institutions to resolve the delays. However, institutions that fail to comply by the stipulated deadline should note that the Fund will publish the names of all non-compliant institutions for transparency,” it added.

On upkeep allowances, NELFUND clarified that disbursements for the 2024/2025 session would continue until November 2025, but students must reapply for the 2025/2026 session to maintain eligibility.

So far, more than 510,000 students have benefited from the Federal Government’s Student Loan Initiative, with a total of N99.5bn disbursed since the scheme’s launch on May 24, 2024.

According to the Student Loan Disbursement Daily Status Report released on September 27, 2025, NELFUND has received 835,360 applications since inception, out of which 510,378 students have successfully accessed the interest-free facility.

Dan Poster by — September 30, 2025 in General News 0