The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has rejected President Muhammadu Buhari’s assent to the acquisition of ExxonMobil’s assets by Seplat Energy....

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has rejected President Muhammadu Buhari’s assent to the acquisition of ExxonMobil’s assets by Seplat Energy.

A statement from the presidency on Monday noted that the Minister of Petroleum, President Buhari had granted assent to the deal in which Seplat will acquire a 40 per cent stake of ExxonMobil oil assets around Akwa Ibom.

The statement cited the Petroleum Industry Act (PIA) 2021, as an incentive to drive Foreign Direct Investment and raise oil production from the assets.

However, in a response to media enquiries on the latest development about the transaction, the Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe, in a statement, Monday night, clarified that the Commission in line with the provisions of the PIA 2021 is the sole regulator in dealing with such matters in [b]the Nigerian upstream sector.

“As it were, the issue at stake is purely a regulatory matter and the Commission had earlier communicated the decline of Ministerial assent to ExxonMobil in this regard.

“As such the Commission further affirms that the status quo remains. The Commission is committed to ensuring predictable and conducive regulatory environment at all times in the Nigerian upstream sector,” the NUPRC noted.[/b]

Daily Trust learnt that NNPC now NNPC Ltd had been in a tussle with ExxonMobil over the transaction insisting that it has the first right of refusal, being in a joint venture with Mobil.

The Akwa Ibom government had also scolded the international oil company for proceeding on the assets lay off without recourse to the state hosting them.

https://dailytrust.com/regulatory-commission-dares-buhari-rejects-sale-of-exxonmobils-assets

They will just be accused of being unknown gunmen sponsors and that's all.

Cool deed!

Wow

Ok

Nigeria is used to selling our assets in their own interest

No be by force to sale na.

Ok

Naijiriya

Please, he shouldn't forget to sale Aso rock before leaving.

Whoknowsme:
I tell you.
That man just want to sell everything in Nigeria and Japa to his hometown.

That's if he won't sale Katsina because papa is busy developing Niger, maybe heading there for retirement

Lawless Buhari as usual.

Peter Obi to the rescue

Cash out period for politicians.

Okay.

Omo this man want to kill us patapata... Massive unemployment loading and many more UBER and BOLT drivers loading..... We are finished

Buhari's mal_administration has finally killed Mobil...they're are now jostling for the company's asset...Akwa ibom government even want in on the asset sharing.

With daily oil production of less than 2million barrel the future looks bleak for Nigeria.

President and Minister of Petroleum. Is Satan not wonderful?

Lol! To them, how can a company owned by an igbo man be given first priority ahead of the rest. They are imagining seplat controlling all that exon mobile asset lmao.

I'll like to see how it ends cos i know they will fight dirty.

The number of regulatory bodies in the federal government is too much. Imagine the number of duplicitous roles being played by almost 6 regulatory bodies.

A Yoruba man should not be in charge of that commission. How can he know what is good for the South South people? How can he keep the interest of the South South people at heart? Where are the South South men? What is happening? This South South men are just too dull for my liking.

Maybe be had pegged his people down for it. This man and his party are worse than the story of omo oninakuna

gaetano:
Lol! To them, how can a company owned by an igbo man be given first priority ahead of the rest. They are imagining seplat controlling all that exon mobile asset lmao.

I'll like to see how it ends cos i know they will fight dirty.

That is not the issue. Get more education on the subject before typing.

The JV contract between Mobil and NNPC stated that whenever Mobil is to divest, NNPC has a right of first refusal to the assets. That is a condition precedent to the sale.
The condition precedent to the sale has not been activated and so, the sale will always have k-leg?
Besides, NNPC is bow a Limited Liability Company and the FG has pumped funds in it. So the NNPC is looking for how to make profit too. They will definitely outbid Seplat.
If this case goes to Court, Seplat will lose big.

Lolz

Lol

Islie:
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has rejected President Muhammadu Buhari’s assent to the acquisition of ExxonMobil’s assets by Seplat Energy....





https://dailytrust.com/regulatory-commission-dares-buhari-rejects-sale-of-exxonmobils-assets

Nobody dey obey bubu, he dey toothless.

Damn!

The PR guy go dey run kitikata right now. President signature wen e dey take shakara nor deliver the job. So e need press more buttons.

I hope this would mean well for the staffs and Nigerians...

BabaCommander:
Lawless Buhari as usual.

Peter Obi to the rescue

The best way to solve security is to vote Tinubu 2023.
Nigerians must not do mistake of voting Obi, his victory is a win for Ipob. They will extend their madness to every part of Nigeria. U don't need to be told their is no part of Nigeria that there no Igbo man. It will be so easy for them to kill millions of Nigerian. Esp the SS n SW becox u can't even identify them unlike how we easily identify a Fulani.

Most Ipob can speak local diet of where they base, they can dress and disguise without being recognized.

Use NE as a case study, during Jonathan time. They were killing in their region but couldn't reach out to other region the president is not their kinsmen. Immediately Buhari enter we all bleed for it.

Now ipob is more deadlier than Fulani, they are educated, more strategic, more financing knows cronies n creeks. And they hate Nigerians more.

Now u want to add federal power to everything they had. I am very sure port Harcourt, Benin n Lagos will be their most hit destination.

The only answer is to vote Tinubu, he is a detribalise man. As governor he employed so much igbos and hausa into Lagos employment scheme. Go to Alausa and verify, they are now in level 14 n 15. There is no area of Lagos employment you won't find every Nigerian ably represented n he is not secretly financing any terror group. Don't dare vote Atiku, he is the number one financier of Boko Haram, he is their patron.