News & Updates

DEMS Volunteers’ Welcomes ongoing Digitisation, Reforms in Oil & Gas Sector by Minister

DEMS Volunteers - cfamedia

The leadership of Digital Economy Media Support Volunteers’, (DEMS Volunteers’), an NGO tracking all development activities, in the nation’s public and private sector on digital economy, has assessed activities of the Minister of State for Petroleum Resources, Chief Timipre Sylva, since his appointment and gave him a pass mark.

A report released weekend in Lagos, on the reforms adopted, so far, by the ministry, in the last couple of months, have shown marked departure, from the way and manner the operations of the nation’s oil and gas sector had been.

The Director-General of the NGO, Prince Stan Okenwa, noted that, “starting from the downstream sector, 2019 December, can be rated as a yuletide season, in Nigeria that never experienced, any form of fuel scarcity, due to new ideas and digital tracking systems, put in place, by the Ministry.”

The DG, in a statement, signed by the Director of Communications, Mr Peter Oluka, said, “there had been steady supplies and uniform price of petroleum products, especially, petrol, across the federation and this has continued, both off and on the yuletide season.

“The relentless efforts, of the Minister, in coordinating the planning, of Nigerian Liquefied Natural Gas, (NLNG), Train 7 Final Investment Decision, (FID), earlier this month, remains a game changer, in Nigeria’s drive, to lead the continent, in gas revolution.

“Further investigations made by DEMS Volunteers’ revealed that, various transformation processes, are currently, ongoing in NNPC, which include, but not limited, to digital installations, growing from Business Unit Focus Areas, (12 BUFAs), Transparency, Accountability and Performance Excellence (TAPE).

We are aware that, the Ministry is considering the Incorporation of NNPC and its existing Joint Venture Companies, as government is currently working on the modalities.

“Still on the downstream, DEMS Volunteers’ is, aware of a special consideration, by the ministry, to introduce two new regulators; one for the Upstream, (the Commission) and another for the Midstream & Downstream, (the Authority), to open enormous opportunities, to local investors and consequently, create massive job opportunities in the country.

“To us, as an NGO, the move will deepen investments, in pipeline engineering design, procurement & construction, terminal operations, pipe mills, fabrication of pressure vessels, storage facilities, pipe transportation and laying equipment, Refineries, Central Processing Facilities and also, investment in Gas-based industries, (Fertilizer, Methanol, Petrochemicals, LPG and CNG), etc. Besides, open access for oil and gas transportation, will be, fully, enhanced.

“On the upstream sub-sector, DEMS Volunteers is convinced that, the ministry is coming up, with more robust fiscal provision, acreage management, drilling-or-drop programme and will not, only retain investors, but more players, will join the league of high-value operators.

“We are further thrilled, by the planned use of technology, for pro-active leak detection, in the Niger Delta, to end instances of oil pollution.

“We are, also, convinced on the way the Ministry, under Chief Timipre Sylva, is driving the Nigeria Gas Flare Commercialization Program, (NGFCP).

DEMS Volunteers’ is, also, pleased with the tenacity, with which the Technical Adviser to the Minister on Gas Business, who doubles as the Program Manager of NGFCP, Mr. Justice Derefaka is driving the scheme, designed as the strategy to implement policy objective, of the government, for the elimination of gas flares, with potentially, enormous multiplier and development outcomes, for Nigeria, in terms of job creation and ending gas flaring.

“We are aware that, the key objective of the NGFCP is, to eliminate gas flaring, through technically and commercially sustainable gas utilisation projects, developed by competent third-party investors, who will be invited, to participate in a competitive and transparent bid process.

DEMS Volunteers’, however, encourage the Minister, to hasten the ongoing harmonization of existing versions, of PIBs, so that, a more reliable document, would be transmitted, to the waiting National Assembly, for legislative surgery, in the interest of the nation.

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