Fidelity bank banner UBA banner
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: 994

•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

 

You may also like...
Dangote opens new cement plant in Senegal

Judges fight back, say DSS crackdown a threat...

Press vital for Nigeria’s survival: Okowa

Buhari’s Health: Stop using phone calls to deceive...

Aba Mega Mall opens for business

Osun: Pay workers, retirees 10-12 months outstanding salaries,...

Breaking News: SHAKE-UP IN THE ARMY •Burutai redeploys...

At least 47 dead as two buses collide...

Military replies Boko Haram over rocket-making factory

INEC threatens perpetrators of electoral illegalities with jail...

Social media indispensable in fight against insecurity: Ex-Defence...

We are winning the war against terror, says...

 

Latest News Censors Board Executive Director dragged to court over generator theft 2019: Youths ready to occupy 50 pct elective offices — Coalition Reps threaten to shun Buhari’s budget presentation Lawyer queries Annual Report of ICC Chief Prosecutor on atrocities of killer herdsmen in Nigeria 3,250 APC, PDP members defect to APGA in Nasarawa Police foil suicide bomb attack in Maiduguri SDP senatorial candidate escapes assassination •Petitions IGP Saraki to attend launch of Trump’s Africa Strategy in Washington 40 inmates regain freedom in Ogun Fake news, biggest threat to 2019 polls: Lai Mohammed Reps want Nigeria returned to Parliamentary system Why Buhari refused to sign Electoral Act Amendment Bill: Presidency

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (430,020 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (394,916 views) Shameless Genevieve Nnaji exposes breasts in public (327,799 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (281,213 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (247,898 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,308 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,169 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,354 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,672 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,509 views) Lagos plane crash: Journalist releases victims’ names (167,272 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,740 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,875) Business Verdict (54) Columnists (973) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (313) International (2,820) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (69) News (41,399) Opinion (1,152) Pidgin (13) Politics (8,158) Religion (915) Sports (1,818) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera