News
PWA Throws Weight Behind NNPCL IPO, Applauds Ojulari’s Leadership
Joel Ajayi
A leading human rights and advocacy group, Peoples Wellbeing Association (PWA) has declared support for Engr Bashir Bayo Ojulari’s-led NNPC Ltd Nigerian National Petroleum Company Limited’s (NNPC Ltd), groundwork for an initial potential offering (IPO) listing on major global exchanges, including New York and London, aimed at engendering transformation to attract international investors.
The group’s Head of Communication Unit, Comrade Abba Abubakar gave the commendation in a statement on Friday in Abuja.
Abubakar saluted Bashir Bayo Ojulari’s leadership ingenuity and vision for outlining plans to deploy Nigeria’s vast gas reserve to attract investors aimed at increasing revenue for expansion.
“The $20 billion Bonga Southwest deepwater development highlights growing investor confidence.
Reforms, including leadership restructuring, operational integration, and gas expansion, aim to make NNPC globally competitive.
“Ojulari is repositioning NNPCL by focusing on transparency, financial sustainability, and workforce development to attract international investors,” he said.
The PWA Communication Unit Head commended Bayo Ojulari for prioritising internal reforms, hailing him for a pivotal but deliberate approach towards an eventual Initial Public Offering.
According to Abubakar, Ojulari’s strategy is not just about listing, but about building the right fundamentals, transparency, cost efficiency, and world-class project delivery.
He described the proposed IPO reforms as a central pillar of NNPCL’s effort to reposition itself as a globally competitive energy firm, following years of structural inefficiencies and opaque governance.
Abubakar who reaffirmed PWA’s support for NNPCL’,s IPO, said it is key to a sweeping reform agenda that includes leaders
hip restructuring and the integration of talent from international oil companies.
He commended Ojulari for initiating moves that are already strengthening operational capacity of Nigerian National Petroleum Company Ltd (NNPC Ltd), through an improved investor-friendly policy.
The PWA Communication Unit Head hailed Ojulari’s project proposals like Nigeria’s deepwater assets,describing it as a turning point after nearly two decades of stalled investments.
Abubakar however gave kudos to Ojulari for restoring investor-confidence which was lost in the past occasioned by regulatory uncertainty and disputes with international partners.
News
PWA demands forensic audit of pipeline surveillance contract , says current contract monopolistic, violation of PIA
Cyril Ogar
A leading advocacy group in Nigeria under the aegis of People’s Wellbeing Association (PWA) has said that the current pipeline surveillance contract is a gross violation of the Petroleum Industrial Act (PIA), calling for a forensic audit of the contract from inception.
It should be recalled that the Nigerian National Petroleum Company Limited (NNPCL) awarded the pipeline surveillance contract to Tantita Security Services Nigeria Limited, led by Government Ekpemupolo (Tompolo), in August/September 2022.
The contract, valued at approximately ₦48 billion annually, aimed to curb oil theft in the Niger Delta.
The PWA’s Head of Communication Unit, Comrade Abba Abubakar said this in a statement in Abuja on Wednesday.
Abubakar who called for equitable distribution of the contract to host communities, said the present structure of the pipeline surveillance contract remained skewed, benefitting a few other than the major stakeholders.
“The current pipeline surveillance contract is a violation of the Petroleum Industry Act (PIA) with regards to the effective participation of host communities in protecting oil facilities located in their domain.
“The present arrangement where the pipeline security was entrusted in the hands of a few companies violates section 257 of the Petroleum Industry Act (PIA), which states that host communities must be directly involved in protecting oil facilities located in their ancestral lands,” he said.
Abubakar who reiterated calls for forensic audit of the contract, said Pipeline protection should involve indigenous stakeholders from the ethnic nations and communities where these facilities are located.
According to him, the present structure reflects an unhealthy concentration of opportunity and influence, leaving many oil-producing ethnic nations with little or no meaningful participation.
He said that the monopolistic arrangement of the pipeline security framework has instead created rancour, resentment thereby undermining unity in the Niger Delta region.
Abubakar vehemently condemned the contract of exclusion, saying that any system that excludes many of the host communities from pipeline protection undermines fairness and regional stability.
The PWA Communication Unit Head regretted that the federal government made a huge financial commitment in the area of pipeline surveillance over the years, yet the nation’s crude output is minimal compared to what it used to be.
Abubakar however called for a forensic audit of the ₦4 billion monthly pipeline surveillance contract, due to brazen instances of economic exclusion and calls for better regional distribution.
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