tolu ogunlesi Profile picture
Aug 30 12 tweets 7 min read
#StateHouseBriefing has kicked off.

Two 1967 laws governed the Nigerian Petroleum Industry, for decades, until PMB assented to the PIA in August 2021. No substantial change in those laws since 1967, says @MKKyari

Watch live:
“I believe that by the middle of next year, @nnpclimited will be IPO-ready.” — @MKKyari

“Our vision is to be the dynamic global energy company of choice.”

#StateHouseBriefing
.@MKKyari: We are restoring the refineries, to at least 90% of installed capacity. We will have an O&M contract, we will not run the refineries ourselves. We will hand over the restored refineries to O&M contractors to run. This is what we failed to do in the last 43 years.
As part of Nigeria’s National Energy Security Strategy, @nnpclimited has taken 20% equity in Dangote Refinery.

#StateHouseBriefing
.@nnpclimited is a participant in #ExecOrder7. More than N600B to be invested. CEO says the Company considers it a responsibility, as its heavy trucks contribute to road damage across the country.
#StateHouseBriefing
@MKKyari speaks on collaboration with Nigerian Military & other security agencies, to tackle crude oil theft.
Since April 2022, the following arrested/destroyed: 11 vessels, 30 speed boats, 179 wooden boats, 37 trucks and cars, 959 metal tanks, 737 ovens, 452 dugout pits, etc
@MKKyari: I must commend the Nigerian Navy @NigerianNavy for doing a very good job, and together we’re severely curtailing oil theft and vandalism. #StateHouseBriefing

We have also launched a Reporting Portal, stopcrudetheft.com
Group CEO, @nnpclimited, @MKKyari: We have put up a control centre, it started in April 2022; it’s not yet on the level of the Saudi Aramco control center that’s circulating in a viral video, but we are on our way there.

#StateHouseBriefing
GCEO @nnpclimited: Even if all our 4 refineries (in 3 locations) are operating at 90% capacity, they will only be able to produce 18m liters of PMS (daily). Which means there will still be a net deficit of PMS, and we will still need to import PMS.

#StateHouseBriefing
@MKKyari: We have the first right of refusal to supply crude oil to the Dangote Refinery. We also have access to 20% of the refinery’s production, as part of our equity.

#StateHouseBriefing
.@MKKyari: We will establish a National Reserves Company that will manage our network of pipelines and depots and maintain Nigeria’s strategic national petroleum reserves.

#StateHouseBriefing
@MKKyari: We’re engaging Private contractors to help secure oil infra in the communities. We’re not dealing with Tompolo, we’re dealing with corporate entities that were selected through the requisite tender process. Of course Tompolo may have an interest within the entities.

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More from @toluogunlesi

Aug 29
Monday #poetry

A thief in the light
By Tolu Ogunlesi

Early morning pilgrims (caught in the eternity between bed and reclining chair)
Nudge one another towards an assembly line of questions,
As dawn creeps up on the building; sans passport.

#Thread
In a million tongues, yellow cards black-market themselves.
But it is another voice that stands out, in a public-address accent:
The flight, Sir, has been re-timed… We have been sending out messages…
The task at hand, of disguising survival chances as seat numbers, continues.
Outside, planes bask in the rousing light; place bets on take-off times.
And – that haunting look on the faces of those which descend! What will be
will be, unless fate, wingless and wanton, whips out a cold and contrary command.
Read 6 tweets
Aug 27
The amount of Gas investment - ongoing and planned - by Govt and private sector under PMB is astounding (list follows). PMB has declared this the “Decade of Gas”, heralding Nigeria’s pivot from oil to gas. We are clear that Gas is our ‘transition fuel’ into a clean energy future.
NLNG Train 7 - first new train in a more than a decade

AKK Gas Pipeline, ELPS-2, OB3

ANOH gas processing plant (300 million scf) in Imo State; JV btw Seplat & NNPC(NGC)

Feasibility studies ongoing on Nigeria-Morocco Gas Pipeline (NMGP).

National LPG Expansion Prog

Etc.
You also have private sector interventions like these:
Read 4 tweets
Aug 26
Will share highlights from this new presentation, delivered yesterday in Kano, by @tundefashola, at the 28th Meeting of the National Council on Works.

(As far as memorable phrases go, he's a champ. "Incremental Power", and now "Season of Completion")
One of the biggest changes PMB has brought to road #infrastructure in Nigeria is in the area of financing. A lot more financing available for roads, highways, bridges under PMB than prev govts (even when oil prices were $100-avg for years). #PIDFund #Sukuk #ExecOrder7
In 2015, outgoing govt budget 18 billion for all the Federal roads in Nigeria - less than even Lagos' roads budget for the year

In 2016, with an even lower avg oil price, new Govt budgeted 260B, & released 198B = 76%

2020, inside Covid, 227B budgeted for roads, 100% released!
Read 8 tweets
Aug 25
"I spend a lot of time thinking about the fact that I am 65, with projected loan repayments for the next 21 years of my life – meaning I will be 86 when I pay them off. When you are burdened by student debt, there is no quality of personal or work life." theguardian.com/commentisfree/…
This student debt debate - you can't but think about the economics of tertiary education in Nigeria; the fact that all of us who went to public Unis did so paying lowest possible fees. Can we continue like this?
Also, no LASTING resolution to ASUU issues without addressing this.
Look at what Section 18(3) of our Constitution says:

(Yes there's a caveat, "as and when practicable", but still. Should "free university education" ever be an option?) Image
Read 4 tweets
Aug 25
Madam @abikedabiri is briefing now at #StateHouseBriefing, about the work and achievements of @nidcom_gov
#AsoVillaToday
We speak of “Japa” as a one-way phenomenon, but we also have Nigerians constantly returning home. @abikedabiri is citing examples of Nigerians returning home, occasionally or permanently, to do interesting things, in Agriculture, Healthcare, etc. #StateHouseBriefing
.@abikedabiri: The hospital where the VP was recently treated was set up by Diaspora doctors. I’m not saying Nigeria’s not a challenging environment, but we must also acknowledge those who are coming back home to do impactful things.
#StateHouseBriefing
Read 12 tweets
Aug 12
In 2018, @oduainvestments, historically owned by Ogun/Oyo/Ondo/Osun/Ekiti States, took the decision to admit Lagos as a shareholder. Today, Group Chairman of the conglomerate, Otunba Bimbo Ashiru, formally handed over @followlasg’s Certificate of Shareholding to Gov @jidesanwoolu
All the 6 States of South West Nigeria are now (equal) shareholders in @oduainvestments.
What happened is that this year (2022), Lagos completed payment for its portion of the Share Capital allotted to it. With the completion of payment, the Certificate of Shareholding has been issued to the State Government. Hence today’s ceremony.
Read 5 tweets

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