Fidelity bank banner NewsExpress advert
NANS, P-PESPI demand end to legal battle over Oil Prospecting License (OPL) 245

By News Express on 06/03/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 736

•AGF Abubakar Malami
•AGF Abubakar Malami

The flurry of litigations concerning the Oil Prospecting License (OPL 245) are unnecessary and have become an embarrassment to the Presidency and stakeholders.

This is the verdict of the National Association of Nigerian Students (NANS) and Partners for Petroleum and Energy Sector Prosperity Initiative (P-PESPI), a new advocacy group for Petroleum and Energy sectors, which suggested that the litigations should stop.

NANS in conjunction with Partners for Petroleum/Energy Sector Prosperity Initiative (P-PESPI), a new advocacy group for Petroleum and Energy in a joint Press Release issued in Abuja.

While calling for an end to the litigations on OPL 245, NANS and P-PESPI said they “totally throw our support for the recommendations of Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), to President Muhammadu Buhari.”

A joint statement issued on Tuesday by the President of NANS, Chinonso Obasi, and Chairman of P-PESPI, Lord Charles Ibiang, observed that the OPL 245 with a reserve of 9 billion barrels of crude oil worth over $500 billion, has been in legal tango for over 20 years.

The statement reads: “The litigation is embarrassing to the Presidency and stakeholders that should stop. A way forward or road map should be designed to enable Nigeria benefit from such her prolific assets. Nigeria needs huge foreign Investment that can generate employment, OPL 245 is an investment haven.

“We are calling on the Federal Government to take advantage of the terms of April 2011 three separate agreements to acquired a major stake in the OPL 245 by converting it to a Production Sharing Contract (PSC) between FGN/NNPC, Shell and ENI/AGIP through Nigerian PSC Mechanism. We wish to say that AGF Abubakar Malami’s advice to Buhari is in good faith and patriotic.

“It is wrong for the core support base of the President to see every business and economic activities as corruption. The Oil and Gas sector is a highly technical and special. It’s a huge risk and money-spinning area and not a place for sentiments or sensenalism.”

The groups said they have conducted a research on the lucrative block, advising the Federal Government to allow Agip-ENI continue development of some parts of the field in OPL 245, particularly the ETAN and Zabazaba fields.

“We observed that total investment from AGIP involved in both the Zabazaba and Etan fields which includes A Power Plant, and a new Refinery is in excess of $15 billion and can generate thousands of Jobs.

“However, we call on AGIP for immediate halt to the purported billion dollar contract award to Saipem until certain insider issues are resolved by all parties concerned in the bidding processes. We call on the FG to see this as a major shift in terms of our search for investment.

“NANS and P-PESP shall be embarking on more fact finding visits to all stakeholders mentioned, Shell, AGIP, Saipem, Minister of State Petroleum, AGF and Minister of Justice, Abubukar Malami SAN for further clarification on some touchy issues of serious concerns. Let’s help develop our country,” the statement said.

 

Source News Express

Posted 06/03/2018 8:11:51 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
I never begged IBB, says Governor Aliyu

FIFA to decide on World Cup reform in...

2019 and the Ibadan Conversation

UK votes in historic referendum on EU membership...

DANGOTE CEMENT HITS $20 BILLION market cap, TARGETS...

Revealed: HOW NIGERIAN PRESIDENTS LOOT OIL REVENUE THROUGH...

2 Rivers Senators and Ohuabunwa lose seats, Akpabio,...

KADUNA clash: DEATH TOLL HITS 100 •Over 10,000...

Micro Finance a tool for poverty alleviation and...

UTME: JAMB, Army strike deal on security; troops...

Closure of institutions in southern Kaduna punitive, vindictive...

Fulani herdsmen kill 4 policemen in Benue

 

Latest News Man crushed to death after mother’s coffin falls on him during funeral Woman yelling 'Allahu akbar' slashes two with blade in France 2019: PDP disowns guidelines for presidential primaries Confusion trails ownership of sacked 300 street sweepers in Lagos Fayemi’s debt responsible for salary arrears - PDP Kukah to Christians: Unite against security threats FG loses N100bn on aviation charges—Expert Okada Ban: Obiano insists on July 1 deadline 2019: Makarfi to vie for PDP’s presidential ticket Suspect dead, 20 hurt in shooting at US arts festival NiMet predicts cloudy, thunderstorms, rains on Monday – NiMet World Cup: Mexico stun champions Germany 1-0

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (351,470 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (350,500 views) Shameless Genevieve Nnaji exposes breasts in public (279,481 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,485 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,663 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,065 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,274 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,369 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,466 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,063 views) Lagos plane crash: Journalist releases victims’ names (143,469 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,345 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,240) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (503) Features (606) Global Business Monitor (280) International (2,031) Interview (153) Live Commentary (28) Love Matters (123) News (36,273) Opinion (1,000) Pidgin (10) Politics (5,268) Religion (770) Sports (1,549) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Royal Wedding 2018 of Prince Harry and Meghan Markel

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement