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  • Writer's pictureAgwe Global

Gulf of Guinea Focus: Week 8


Nigeria’s Crude Production Drops To 1.419mbpd, OPEC Reveals
Nigeria’s Crude Production Drops To 1.419mbpd, OPEC Reveals

Nigeria’s crude oil production marginally dropped to 1.42 million barrels a day in January 2024, according to Organisation of Petroleum Exporting Countries, OPEC. OPEC’s Monthly Oil Report for February 2024 released showed that the country’s oil output dipped by 3,000bpd or 0.21 per cent from 1.422mbpd it produced in December, according to secondary sources. The Federal Government projected 1.78 million barrels per day in the 2024 budget. However, the report said that the nation’s oil production rose from 1.33mbpd to 1.42mbpd, based on data obtained through direct communication. In the 2024 budget, President Bola Tinubu had in the budget proposed that the nation would strive to produce above what it currently produces as crude oil. The N28.7tn budget depends heavily on crude oil proceeds, which is the major revenue of the Nigerian government.


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FG Reiterates Commitment to Tackle Oil Theft in Niger Delta
FG Reiterates Commitment to Tackle Oil Theft in Niger Delta

The Minister of State for Petroleum Resources, Heineken Lokpobiri, has expressed the government’s determination to tackle oil facility vandalism and crude oil theft in the Niger Delta region. Speaking in Abuja, Mr Lokpobiri was there when Major General Barry Ndiomu, the acting administrator of the Presidential Amnesty Program, took his team to the ministry. The minister pledged support for the ongoing efforts to bring peace back to the region by working with the Presidential Amnesty Programme. Mr Lokpobiri expressed his appreciation for Mr Ndiomu and his group’s commitment to advancing the federal government’s efforts to attract investment and foster economic growth in the country.He emphasized how crucial it is to keep working toward policies that will bring about economic development.The head of amnesty stated in his speech that he will keep working harder to keep the Niger Delta peaceful.


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Military Recovered N2.6bn Stolen Crude Oil – DHQ
Military Recovered N2.6bn Stolen Crude Oil – DHQ

The Defence Headquarters said troops in the South-South region recovered stolen crude oil and other related products valued at N2.6 billion. According to the DHQ, a total of 3,282,250 litres of stolen crude oil, 224,050 litres of illegally refined AGO, and 5,925 litres of DPK were recovered between January 27 and February 16. In addition, 131 dug-out pits, 67 illegal refining sites, and 125 storage tanks were discovered and destroyed, while a total of 104 suspected oil thieves were apprehended. This was contained in a statement by the Director, Defence Media Operations, Maj. Gen. Edward Buba. The statement reads: “In the SS, troops denied the oil theft of the estimated sum of N2.6bn. Troops also arrested 104 perpetrators of oil theft.


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NPA’s new Executive Director, Marine and Operations visits Apapa port
NPA’s new Executive Director, Marine and Operations visits Apapa port

The newly appointed Executive Director, Marine and Operations of Nigerian Ports Authority (NPA), Olalekan Badmus, visited the Lagos Port Complex (LPC) Apapa to familiarize himself with operations at the port. Badmus was appointed into the position on January 4 along with other Executive Directors in NPA and the Nigerian Maritime Administration and Safety Agency (NIMASA). Accompanied by NPA’s General Manager, Marine & Operations, Captain Jerome Angyunwe; General Manager, Security, Khalil Mohammed and Assistant General Manager, Operations Stella Oladiran; the new Executive Director was received by the LPC management staff led by the Port Manager, Charles Okaga. In his briefing, Okaga said LPC is Nigeria’s premiere seaport with a quay length of 4.3km. He also said that the port is open and operates 24 hours daily.


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Navy Will Make Maritime Environment Uncomfortable For Criminals – FOC
Navy Will Make Maritime Environment Uncomfortable For Criminals – FOC

The Eastern Naval Command (ENC), Nigerian Navy, has vowed to make the nation’s maritime corridor uncomfortable for criminal elements. This was disclosed by the new Flag Officer Commanding (FOC) the command, Rear Admiral Saheed Akinwande, during his assumption of duty in Calabar. He said that all resources would be deployed to create the desired environment for socio economic activities to thrive in the nation’s maritime environment. According to him, the maritime environment is the nation’s economic center and we must remain committed in ensuring that all forms of threat within it is tackled to realise prosperity for Nigerians. “I remain committed to do the needful to make sure the environment is uncomfortable for criminals and for them to have a rethink.


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Customs Forges Collaboration with Nigerian Navy to Combat Smuggling
Customs Forges Collaboration with Nigerian Navy to Combat Smuggling

The Comptroller General of Customs, Bashir Adewale Adeniyi, has paid a courtesy visit to the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, to strengthen collaboration between the Nigeria Customs Service (NCS) and the Nigerian Navy (NN). During the visit, at the Nigerian Navy Headquarters Abuja, the Customs boss reassured his commitment to enhancing the relationship between the two agencies for effective anti-smuggling strategies across Nigerian waterways. He stated, “it is important for us to participate in joint operations to combat smuggling activities. We also need to tap on the experience of the Nigerian Navy to enhance the capacity of personnel serving within the Customs Marine Units.” The CGC further highlighted the NCS’s possession of ocean-going and creek-going vessels in its fleets while stating the plan underway to transport the two ocean-going vessels to the Nigerian Navy Dockyard for maintenance.


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