News
Oil investment: Shell squeezing Nigeria, wants us to set aside our laws – NCDMB boss
Shell has, reportedly, withdrawn from the Memorandum of Understanding (MoU) Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian National Petroleum Company Limited (NNPC) signed with the international oil companies (IOCs), introducing a hiccup in Nigeria to reduce upstream projects’ contracting cycle and enable quick development of major oil and gas assets have hit a brick wall.
THISDAY reports that Shell might have pulled out of the deal to force the Nigerian government to suspend the country’s laws and grant it more waivers, after some waivers were granted it as an incentive to quicken development of some of its offshore projects that had been lying fallow for decades.
Simbi Wabote, Executive Secretary of NCDMB, who hinted at Shell’s withdrawal from the September 2023 tripartite pact, during his intervention at the just-ended 41st Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), held in Lagos, said the IOCs, especially Shell, were no longer interested in investing in Nigeria.
The assertion came as NNPC lamented the return of portfolio managers into the Nigerian oil and gas industry due to the advent of the Nigerian Local Content Act.
As part of the steps to address the waning investment in the upstream oil sector, continued production decline, and infrastructure deficit, NNPC and NCDMB had in September signed the landmark MoU with the IOCs to reduce the contracting cycle by 81.6 per cent.
The move was expected to cut down the current contracting cycle to an optimal level of not more than 180 working days from the current 327 days.
NNPC, in a statement at the time, said the deal was expected to improve the ease of doing business, reduce cost and drive efficiency, which would eventually translate to production growth, increased revenues, and, ultimately, improved profitability.
The statement said: “The MoU is also expected to contribute significantly to the double-digit economic growth rate agenda of the federal government and generate tremendous value for all the stakeholders, which include investors, companies, host communities and the nation at large.
“Key benefits of the framework in the MoU include a reduction of the contracting cycle for open competitive tender, selective tender, and single sourcing tender to 180, 178, and 128 working days, respectively, compared with the current best effort performance of 327, 333, and 185 working days, respectively.”
But contributing during a panel session at the NAPE conference, Wabote stated that the reliance on the IOCs would not help Nigeria make progress in the development of its assets, stressing that Shell no longer wants to invest in the country.
Referring to Shell’s attitude in the September MoU between the IOCs, and NNPC and NCDMB, Wabote argued that the company had continued to demand more waivers after some had been granted it, adding the company wanted Nigeria to set aside every of its laws and allow it to develop the prolonged prolific Bonga Southwest project and some of its shallow offshore projects on its terms.
Wabote stated: “I don’t think Shell wants to invest in this country again. I’m sorry to say it, because I give you an example. Bonga Southwest started before I was even recruited in Shell and that is 26 years before I left Shell.
“Today, Shell wants Nigeria to set aside every law and do Bonga Southwest on their terms. Same thing with some of the shallow offshore projects. They want you to set all your laws aside and they want to create an emergency situation to tell you it is now very critical.
“But we started HI development almost 20 years ago, now it is very critical for Shell. HA development is now becoming critical for Shell. That’s how they leave their projects, such that it becomes critical, they write all the justifications, set aside your PIA, set aside your Local Content Act for them to do those projects. I personally don’t think they want to invest in those projects, they will prove me wrong, but time will tell.
“We in local content sat down with all the IOCs (myself and Mele Kyari) and we said, what are the issues to enable us increase production. They listed those issues. We agreed on waivers that we would give. Later, I wrote a letter and submitted back to Shell to say, three months ago, we agreed to all the waivers you requested, where is the progress? The next response was that they were looking for further waivers.”
The NCDMB boss encouraged the local exploration and production companies that are now taking over assets divested by the IOCs to apply strict corporate governance so that they could create a joint venture that would help the country to develop its assets. He said Nigeria needed to be deliberate and realise that some of the multinationals were not prepared to help the country move forward, adding, “Let’s take our destiny in our hands and progress accordingly.”
In her intervention at the panel, Executive Vice President (Upstream), NNPC, Oritsemeyiwa Eyesan, who listed the challenges confronting the country’s oil and gas industry, revealed that despite its gains, the Nigerian Content Act had encouraged the return of portfolio managers in the industry.
Eyesan said, “I must at this point just also introduce the challenges we have with local content. When the Local Content Act was passed, we were all excited and looking forward to the growth of local capacity.
“Indeed, there had been some gains in the past in this regard. But you will also agree with me that it has brought with it a lot of challenges, to the extent that we have more or less encouraged portfolio managers rather than build competences and capabilities that the local content law was supposed to achieve.”
Eyesan explained that the return of portfolio managers made projects’ financing more difficult, “because when you have middlemen, sometimes, you have several layers in these middlemen that it becomes almost impossible to complete projects profitably”.
She said another challenge facing the oil and gas industry in Nigeria, which was causing the exit of the IOCs and discouraging new entrants into the sector, was the difficult and lengthy contracting process. She described it as an operational challenge, which NNPC Limited was not insulated from.
Eyesan lamented as dismal a situation where a contracting process would linger for 24 months, instead of two to three months obtainable in other climes.
Citing political and regulatory risks as one other challenge in the industry, Eyesan said the Petroleum Industry Act (PIA) was supposed to be an enabler for investment, explaining that if well implemented, it would enable and attract investment into the industry.
She said financial risk was another major encumbrance in the sector, explaining that currency and exchange rates instability make it difficult to structure financing deals that would deliver on the expected return. She added that investors were leaving the shores of Nigeria partly because of the financial risk.
The NNPC EVP further said, “First of all, we all agreed that virtually all the IOCs are leaving onshore, not to say they are leaving Nigeria completely, and we’ve articulated some of the reasons why they are leaving. Security is a major one, because if I’m not assured that I would get my money at the end of the day, then there is no reason why I would continue.
“The other risk that confronts participants in the sector is operational risk. We talk about insecurity in the Niger Delta and in the entire country as a whole. Again, I want to invest, I’m not assured my investment will be realised. That definitely will not make it possible for me to come.
“Technology deployment as well: when we are not able to deploy cutting-edge technology because we cannot afford it, it becomes even more difficult for us.
“There are other in-country reasons: stability in our regulations, stability in the fiscal environment. Until you solve those problems, it will be difficult for you to start saying you want to attract foreign investment.”
News
Why Prominent Individuals Pay Premium for Online Credibility in the Digital Age – Ayobami Eruobami
As the global economy becomes increasingly digital, Eruobami Ayobami, Chairman of Erumedia Group & Charity Trust who also doubled as the founder of Pressford , has shared a bold perspective on the rising demand for online credibility and why individuals are now investing significantly to build it.
In a world dominated by platforms such as Instagram, LinkedIn, and TikTok, first impressions are no longer made in rooms but on screens.
“Credibility today is no longer something people wait to discover about you. It is something they search for instantly,” Ayobami stated. “If your digital presence does not validate your value, you are already at a disadvantage.”
This shift has transformed credibility into a high value digital asset one that professionals, founders, and public figures are now actively building through media exposure, strategic storytelling, and search visibility.
Erumedia Group: Building the Narrative Behind Credibility
As a Public Relations, communications and media company, www.erumediagroup.com focuses on shaping the foundation of credibility helping individuals and organizations define, structure, and communicate their stories with clarity and authority.
“Before visibility comes narrative. Many people struggle not because they lack value, but because they lack structured positioning,” Ayobami explained. “At Erumedia Group, we help clients refine their voice, their message, and the way they are perceived before they ever go public.”
Through brand development, storytelling strategy, and reputation positioning, the company ensures that credibility is not just visible but meaningful and consistent.
Pressford: Distributing Credibility at Scale
While narrative builds the core, Pressford plays a different role amplification.
As a press release distribution and digital PR platform, Pressford enables individuals and organizations to translate their credibility into verifiable public presence across media channels.
“Pressford exists because credibility must not only be built it must be seen, indexed, and validated publicly,” Ayobami said. “It gives individuals the infrastructure to show up in search results, in news mentions, and in conversations that matter.”
By making media visibility more accessible, Pressford addresses one of the biggest gaps in the digital credibility cycle: discoverability.
The Business of Being Seen
Ayobami notes that the increasing willingness to pay for credibility is not driven by vanity, but by necessity.
“Opportunities today are often given to those who appear prepared, visible, and validated. The market responds to perception before it investigates performance,” he stated.
However, he also warns against mistaking visibility for substance.
“If credibility is only built on aesthetics without real value behind it, it will fail. The goal is not to look credible it is to be credible and ensure that credibility is visible.”
A Shift That Cannot Be Ignored
As digital ecosystems continue to shape human interaction and business decisions, Ayobami believes the importance of intentional credibility building will only grow stronger.
“The future belongs to individuals who understand that credibility is not accidental. It is designed, positioned, and distributed,” he concluded.
Eruobami Ayobami is a Professional Public Relations Executive, Media Entrepreneur, Personal Brandinf Expert and communications strategist.
He Chairs Erumedia Group and Charity Trust and Founded Pressford. His work focuses on helping individuals and organizations build, structure, and amplify their digital credibility.
From Goodluck Jonathan, Nigeria’s former President, came a mild rebuke to Atiku Abubakar, former Vice President, who in assessing the quality of his six-year tenure as Nigerian leader, all but dismissed him as “inexperienced.”
Atiku, a guest of Prime Time, a public affairs programme on ARISE NEWS Television, last week, told his host that Jonathan was inexperienced, saying his tenure was marked by notable missteps.
“I know Goodluck Jonathan very well. He is a decent young man, but also inexperienced, and I believe that contributed to his inability to manage the affairs of the country, particularly when he was faced with challenges,” Atiku, currently chasing the number one job the former President exited in 2015 for the seventh time, said.
But in a measured riposte at the 2025 Association of Retired Career Ambassadors of Nigeria awards ceremony in Abuja on Monday, Jonathan, while acknowledging that he must have made some mistakes, argued that errors were inevitably with human beings as only God could be perfect,
Reacting to Atiku’s remarks, he told his audience: “So not too long ago, a very senior politician said, ‘Oh, Jonathan was too young and probably that’s why he made mistakes.’
“If I made mistakes, yes, nobody who becomes a governor or a president will say you did not make mistakes. Even when you promote yourself to the level of a god, you become a deity.
“All human beings must make mistakes. I became president in 2010 at the age of 53. I left in 2015 at the age of 58, and they say I was too young. Must it have been 100 years before I ran the affairs of the state?
“I’m talking to diplomats, so I can say that during my period, I knew what I did for us to appear in the UN Security Council two times… If I were so naive, I don’t think I would have been able to navigate through that process.”
Jonathan also spoke on regional affairs, warning that political instability remains a major obstacle to economic growth across West Africa. He stressed that without stable governance systems, meaningful development in the sub-region would remain elusive.
“We cannot progress economically if we are very unstable societies politically,” he said.
Jonathan noted that while the founders of ECOWAS envisioned strong economic cooperation, persistent political crises have hindered progress, particularly in enforcing democratic standards among member states.
“That means that ECOWAS must interfere with the internal affairs of the states, and the issue of sovereignty becomes a problem,” he said.
Jonathan urged leaders in the region to work collectively towards stability, saying, “The heads of states of ECOWAS must continue to work together and agree on concrete terms and make sure that the sub-region is politically stable.”
He added that economic integration efforts would falter without solid democratic institutions and called on Nigerian diplomats to properly document foreign policy experiences for future leaders.
Paying tribute to ECOWAS founders, including former Head of State Yakubu Gowon, Jonathan described the creation of the bloc in 1975 as a bold and necessary step toward regional unity and economic integration.
Gowon, who was also honoured at the event, recounted the origins of ECOWAS, linking its formation to post-war diplomatic engagements across West Africa.
According to him, “It was as a result of the various efforts of all Nigerians when we went through a very difficult period, and I had to go to the various countries to say thank you.”
He said discussions with regional leaders at the time led to a shared vision for broader cooperation.
“Why don’t we also think about having something that we can at least have in agreement for all of us when we are working together?” he said.
Gowon emphasised that ECOWAS was the product of collective effort rather than individual ambition, crediting government institutions and civil servants for its success.
“This would not have been possible without the support of all the staff of the Ministry of External Affairs and the Ministry of Economic Development,” he stated.
He added that the recognition bestowed on him should be shared widely.
“The honour that is being done to me today should really go back to all the staff that worked so hard to make sure that this became a reality,” he said.
Also speaking, the President of the Association of Retired Career Ambassadors of Nigeria, Joe Keshi, highlighted the importance of honouring excellence in diplomacy, noting that the awards celebrate dedication and service to Nigeria and the continent.
“Diplomacy is one profession where success is often invisible, reflected not by news coverage, but by maintained stability, prevented conflicts, cultivated partnerships,” he said.
Keshi noted that the event coincides with the 50th anniversary of ECOWAS, describing the organisation as “a bold experiment in regionalism,” and urged diplomats to adapt to evolving global challenges.
The Chief of Army Staff, Lt Gen Waheed Shaibu, also praised Gowon, describing him as a symbol of national unity and visionary leadership.
He said the recognition offers a chance to reflect on a legacy “defined by visionary leadership, courage, and unwavering commitment to the unity, stability, peace, and progress” of Nigeria.
Shaibu added that Gowon’s leadership reflected “patriotism, resilience, and a profound sense of duty,” while commending ARCAN for its continued contribution to diplomatic discourse and Nigeria’s global engagement.
After months of official hiatus, the Federal Government, on Tuesday finally got on the way with the trial of those fingered in the alleged plot to oust President Bola Ahmed Tinubu through a coup, including Timipre Sylva, former Minister of State for Petroleum.
The move, which apart from the former Governor of Bayelsa State, came with the filing of a 13-count charge before the Federal High Court, Abuja, against the alleged plotters including Mohammed Ibrahim Gana, a retired General in the Nigerian Army, Erasmus Ochegobia Victor, a retired Naval Captain, Ahmed Ibrahim, a serving police inspector, Zekeri Umoru, Bukar Goni, and Abdulkadir Sani.
Sylva, whose name surfaced as one of the plotters when the news first broke and believed to be the major financier of what would have led to another military government in Nigeria after the last ended in 1999, was listed as being at large – on the run.
The charge, filed on Monday by the Office of the Attorney-General of the Federation and signed by the Director of Public Prosecutions, Rotimi Oyedepo (SAN), accuses the defendants of offences ranging from alleged treason and terrorism to failure to disclose security intelligence and money laundering linked to terrorism financing.
The prosecution alleged that the defendants conspired in 2025 “to levy war against the state to overpower the President of the Federal Republic of Nigeria”, an offence punishable under Section 37(2) of the Criminal Code.
The Federal Government further alleged that the defendants had prior knowledge of a planned treasonable act involving one Colonel Mohammed Alhassan Ma’aji and others, but failed to alert authorities.
Furthermore, the defendants were also accused, according to the charge, of, while “knowing that a treasonable act was intended to be committed, did not give information thereof with all reasonable despatch to either the President… or a peace officer.”
They were also accused of failing to take preventive steps and “did not use any reasonable endeavours to prevent the commission of the offence”.
Beyond treason, the defendants are facing terrorism-related charges of conspiracy under the Terrorism (Prevention and Prohibition) Act, 2022, as they “conspired with one another to commit an act of terrorism in the Federal Republic of Nigeria”.
Inspector Ahmed Ibrahim and Zekeri Umoru were specifically accused of attending meetings linked to the alleged plot “in a bid to further a political ideology which may seriously destabilise the constitutional structure of the Federal Republic of Nigeria.”
The charge also accused the defendants of providing support for terrorism, alleging that they “knowingly and indirectly rendered support” to facilitate acts of terror.
The prosecution alleged deliberate suppression of intelligence, stating that the defendants “had information which would be of material assistance in preventing the commission of the act of terrorism but failed to disclose the information to the relevant agency as soon as practicable”.
Financially, several defendants were accused of handling funds linked to terrorism financing, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
Bukar Kashim Goni allegedly “indirectly retained the aggregate sum of N50,000,000, which forms part of the proceeds of an unlawful act, to wit: terrorism financing”, while Abdulkadir Sani allegedly retained N2m from a similar source.
According to the charge, Zekeri Umoru “without going through a financial institution accepted a cash payment of the sum of N10,000,000″ and also retained an additional N8.8m suspected to be proceeds of terrorism financing.
Inspector Ahmed Ibrahim was also accused of taking possession of “the sum of N1,000,000, being part of proceeds of terrorism financing”.
Alleged Coup Plot, Protests
After the Federal Government cancelled the parade to mark Nigeria’s 65th independence anniversary on October 1, 2025, reports had claimed that the move was linked to an alleged coup attempt.
The Defence Headquarters (DHQ) dismissed the claims, however, saying the parade cancellation had nothing to do with the alleged coup attempt.
In January 2026, the DHQ confirmed that there was an attempt to overthrow President Tinubu.
The DHQ Director of Defence Information, Samaila Uba, said investigations showed some military personnel were involved in the alleged coup plot.
According to Uba, the officers have been detained and would be arraigned before military judicial panels.
Last month, families of the military officers detained over the alleged coup plot appealed to Tinubu to allow the suspects to be tried in an open court.
Human rights activist Omoyele Sowore protested alongside the detained officers’ families. They also asked for access to the alleged coup plotters.
Why Prominent Individuals Pay Premium for Online Credibility in the Digital Age – Ayobami Eruobami
Jonathan to Atiku: I don’t play God *I still achieved, though imperfect
BREAKING: FG opts for open court trial of coup plotters against Tinubu
-
News4 weeks agoGovernor weeps, as terrorists kill soldiers, police in night ambush
-
Columns3 weeks agoSeun Okinbaloye saga: How does Tinubu survive if Wike resigns?
-
Columns1 week agoAbike Dabiri: Did Obi raise a monster or you’re drunk on Tinubu’s poisoned chalice?
-
News2 weeks agoStop using Latin phrases, make clear, unambiguous orders – NBA tells courts
-
News2 weeks agoNafiu Gombe: Yes, I have sponsors! *I can’t fight ADC big men alone!
-
Columns5 days agoBe the hero that saved Nigeria! Open letter to Alhaji Atiku Abubakar
-
Columns2 weeks agoCentus Nweze (JSC): Death of legal purist, irony of Nigerian judiciary
-
News3 days agoJandor: Tinubu didn’t endorses Hamzat *I’ve briefed President on my ambition