In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the NNPC Ltd has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market.
Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart speaks at the official unveiling of the Utapate crude oil blend during the Utapate Crude Roadshow held on the sidelines of the 2024 Argus European Crude Conference in London, United Kingdom, on Wednesday.
It would be recalled that in July, 2024, NNPC Ltd and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd introduced the Utapate crude oil blend, following the lifting of first cargo of 950,000 barrels which headed for Spain. During a ceremony held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market. “Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told a packed audience of European crude oil marketers. He added that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities. Foucart said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf of gas.
“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.
He said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects. Also speaking, the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities. He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted to optimise value for both its producers and counterparties across the globe.
He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries. Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.
The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.
The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.
The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.
The entry of the Utapate crude oil blend into the market is coming barely a year after the NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV). This remarkable achievement signals the commitment of the NNPC Ltd to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets.
How Ex-Kwara Governor Abdulfatah Diverted UBEC Funds, Abandoned 51 Projects
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The trial of the former Governor of Kwara State, Alhaji Abdulfatah Ahmed, and his Commissioner for Finance, Ademola Banu, over the alleged misappropriation of Universal Basic Education Commission (UBEC) funds to the tune of N5.78 billion, continued on Monday, February 17, 2025, before Justice Mahmud Abdulgafar of the Kwara State High Court sitting in Ilorin.
Kwara Ex-Governor, Fatai Ahmed
The former governor and his finance commissioner were accused of conspiring to divert funds meant for the payment of teachers’ salaries under the Kwara State Universal Basic Education Board (SUBEB), the provision of basic infrastructure for primary and junior secondary schools, and security initiatives in the state. They were arraigned by the Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on October 21, 2024. However, both defendants pleaded not guilty to the charges.
During Monday’s hearing, the prosecution’s first witness (PW1), Abubakar Hassan, an Assistant Director of Finance at UBEC, while being led in evidence by counsel to the EFCC, Rotimi Jacobs, SAN, testified that a total of 51 projects approved under the 2013 action plan were abandoned due to a lack of funds. According to Hassan, the UBEC project monitoring committee discovered that, despite the approval for these projects, the state government under the leadership of erstwhile governor mismanaged the funds.
“My Lord, the Projects Monitoring Exercise conducted investigations and found that many projects were either unexecuted or abandoned. We wrote to the then-Kwara State Governor, Alhaji Abdulfatah Ahmed, in May 2018 to address these issues, but we received no response,” Hassan stated.
He further explained that the abandoned projects spanned all 16 Local Government Areas of Kwara State.
Additionally, Hassan revealed that on January 6, 2015, N1 billion was loaned from the 2013 UBEC Matching Grant Account with Skye Bank Plc to pay staff salaries and pensions. Addressing the utilization of the 2014 and 2015 State Counterpart Funds, he stated that the Kwara SUBEB had illegally withdrawn N1,829,054,054.06 from funds lodged on February 18, 2016. These funds had qualified the state to access the Federal Government’s UBEC Matching Grants.
Hassan further testified that UBEC had sent a letter of invitation requesting documentary evidence regarding the Kwara State Government’s use of UBEC funds.
“We submitted documents showing the lodgment of funds to the Kwara SUBEB. The projects were categorized into three: early care education, primary school education, and junior secondary school education,” he explained.
He also reiterated that UBEC had written to the first defendant (Abdulfatah Ahmed) in May 2018, drawing attention to the alleged mismanagement of education funds. However, there was no response from the state government.
“State Matching Grants are not permitted to be borrowed or utilized for any purpose outside the approved action plan. The objectives of UBEC were undermined due to these infractions and the failure to implement the action plan,” Hassan stated.
Justice Abdulgafar adjourned the case until February 18, 2025, for the cross-examination of PW1.
Transcorp Hilton Abuja Sets the Mood for Valentine’s Day with Exclusive Dining and Room Offers
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Transcorp Hilton Abuja is gearing up to make this Valentine’s Day unforgettable with unique dining experiences at its signature restaurants, Zuma Grill and Bukka Restaurant, as well as the Fulani Pool Bar.
The facade of Transcorp Hilton Abuja from the pool
August24news.com gathered that There is also a special room offer for couples. On February 14th, 2025, couples and singles alike can indulge in a romantic dinner at Zuma Grill, complete with a specially crafted multi-course menu, live music, and an enchanting ambiance.
The evening promises to be a night to remember, with prices starting at N180,000 for singles and N320,000 for couples. The dinner will commence at 7 pm at Zuma Grill, located on the Ground Floor of Transcorp Hilton Abuja.
For those seeking a more laid-back celebration, Bukka Restaurant is offering a delectable Valentine’s Day buffet. Priced at N68,000, the buffet promises to be a delightful experience, filled with laughter and cherished moments with loved ones. The buffet will begin at 6:30 pm.
Guests who want an enchanting experience by the poolside can enjoy the Fulani Pool Bar where delicious bites, refreshing cocktails and light appetizers will be served in a serene, open-air atmosphere. The beautiful poolside setting, combined with the night sky, provides a perfect backdrop for couples seeking a quiet and intimate celebration.
To make the celebration even more special, Transcorp Hilton Abuja is offering a Valentine’s Day room package, complete with a romantic dinner, champagne, and a relaxing stay in one of its luxurious rooms. Couples can book the package and enjoy a memorable getaway.
Reservations for Zuma Grill can be made by calling 08039013000 or sending a direct message on Instagram @zuma_grill. For Bukka Restaurant, please call 08039013333 for further enquiries or follow @thebukkarestaurant on Instagram. To book the Valentine’s Day room package, please contact the hotel directly.
Transcorp Hilton Abuja invites you to celebrate the spirit of love and togetherness this Valentine’s Day with an unforgettable dining and stay experience.
In its continued commitment towards the implementation of the present administration’s Renewed Hope Agenda, particularly in the area of improving governance for effective service delivery, the National Information Technology Development Agency (NITDA), is intensifying efforts to create a one-stop-shop portal for all government services.
The initiative aligns with the President’s directive to digitise 75% of government services by 2027, a target that is now actively being pursued by various stakeholders.
This was made known when the DG NITDA, Kashifu Inuwa CCIE and his team played host to a delegation from the Ukrainian Embassy in Nigeria led by its ambassador, Mr Ivan Kholostenko to the Corporate Headquarters of the Agency in Abuja to discuss possible areas of collaboration between the two countries on ways of enhancing productivity, transparency and trust in government processes.
Despite efforts made for several years at establishing a centralised e-government portal such as the OneGove.net, the NITDA DG noted that the Agency has been playing a pivotal role in shaping the design, standard guidelines, and implementation strategies towards its establishment.
He however stated that renewed commitment and extensive research into global best practices have reignited the drive for pursuing the agenda.
While stating that the Agency has been doing research on how other countries have been able to implement the unified digital government services platform, the DG said, “We have been doing research on how UK, Kenya and other countries have achieved this, so I believe we can learn from you as well to see how we can build our own.”
“While such models are not entirely transferable between nations, we can learn from their experiences to develop a framework that works for Nigeria,” he added.
Proposing an introduction of legal frameworks to back up the initiative, Inuwa disclosed that NITDA has identified multiple models from other nations that allows government agencies to provide services through an Application Programming Interface (API) while other countries provide services exclusively through designated portals backed by law.
“If we want to achieve this, we need to have these laws in place and kickstart the process of enacting the laws in other to facilitate a smooth and effective digital transformation,” he averred.
Inuwa also disclosed that the agency is engaging with the International Telecommunication Union (ITU) to ensure alignment with global digital governance standards and the engagement is expected to provide valuable expertise and insights into structuring Nigeria’s digital transformation roadmap.
“This initiative is seen as a critical step towards enhancing efficiency, reducing corruption, and promoting transparency in government operations. By leveraging global best practices in alignment with national policies and digital transformation goals, Nigeria will have a smart, seamless and citizen-friendly government service experience, “he concluded.
In his remark, Mr Kholostenko said that Ukraine runs a digital platform known as the Diia application which is an ecosystem that encompasses all of the state registers, databases and can perform all the state and government services for citizens in one place.
He disclosed that it is the intention of his country through its Ministry of Digital Transformation to expand the reach of this initiative and provide full support for other countries to create such kind of system.
“I want to note that we are interested to expand and help other countries to make a digital state, reduce bureaucracy, reduce time for getting state services and of course, to reduce corruption risks, because human-to-human interaction is minimal,” he said.