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PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets - Politics - Nairaland

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PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by yashau(m): 11:33am On Jun 11, 2023
Tinubu’s plans to double Nigeria’s Crude Production, raise $17.4 bn through sell down Nigeria’s newly inaugurated President, Bola Tinubu ‘s administration announced ambitious programmes and targets for Nigeria’s energy industry, citing a target of 4 million barrels per day production capacity by 2030 and also 12bcf/d Gas Production Capacity from 3.5bcf/d of Gas production capacity today.

They said this can be done by Mandating the NNPCL and NUPRC/NMDPRA to close out outstanding divestments, Strip NNPCL of policy-making roles and sell down NNPCL’s joint ventures to a minority position and develop an operating model that eliminates cash calls with targeted raise of $17.4 billion.

This was disclosed in the report by the Energy & Natural Resources subcommittees of the Bola Tinubu’s Advisory Council, proposing changes to enable growth in Nigeria’s Energy & Natural Resources Sectors viewed by Nairametrics.

Energy Vision 2030

According to the report, Nigeria is currently producing 3.5bcd/d of Gas production capacity and 1.4 Mbps of oil production capacity,2,500kta Petrochemicals Capacity.

The forecasted target for 2030 includes milestones of 12bcf/d Gas Production Capacity, 4mmbpd Oil Production Capacity and 7,500kta Petrochemicals Capacity
Present Challenges

The report noted that to hit those targets, Nigeria’s oil and gas sector must address its current challenges, restore, grow, and sustain production to deliver economic growth

They listed Highlights of present economic and sector challenges, which are:

“$70 billion worth of investments lost in the petroleum industry since 2011 also due to the absence of the PIA.”

“ Insecurity is a major sector challenge. $46.16 billion was lost to crude oil theft between 2009 and 2020

“$10.70 billion lost annually to PMS subsidy and inefficiencies associated with the purchase, distribution, and sale of PMS.”


“Governance and regulatory concerns have eroded investor confidence, diverting private capital needed for the development of critical oil and gas infrastructure.

“Cumulatively, these have reduced the energy sector’s contribution to economic growth and deprived citizens of the necessary infrastructure and social amenities required for improving living standards.


NNPC Reforms and Plan Outline

The Committee recommends that Nigeria’s energy must restore, grow, and sustain production through three horizons, which would include Head-hunting competent, tested, reform-focused leaders in NNPCL ensuring its function as a commercial entity per PIA; paying taxes and profit to the Federation Account, also Strip NNPCL of policy-making roles, sell down assets and keep NCDMB within its Act mandate.

Article Summary

Ambitious Targets: Nigeria’s President Tinubu aims to reach 4 million barrels per day of oil and 12 billion cubic feet per day of gas production capacity by 2030.
Challenges: The energy sector faces lost investments, insecurity, fuel subsidy inefficiencies, governance concerns, and infrastructure limitations.

Reforms and Plan: The proposed plan includes reforms, divestments, policy changes, regulatory improvements, and the development of greenfield projects to achieve the targets.


https://nairametrics.com/2023/06/10/tinubus-plans-to-double-nigerias-crude-production-raise-17-4-bn-through-sell-down-of-nnpcs-assets/

57 Likes 12 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by yashau(m): 11:33am On Jun 11, 2023
:Obidient must love Tinubu force 🙄 Power is transient in the hands of mortal men, absolute power belong to God.

76 Likes 6 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by MarketDispatch: 11:51am On Jun 11, 2023
yashau:
Nigeria’s newly inaugurated
https://nairametrics.com/2023/06/10/tinubus-plans-to-double-nigerias-crude-production-raise-17-4-bn-through-sell-down-of-nnpcs-assets/

Sell downs should not be a first priority without cleansing the industry.
Raise 17.4 bn to do what? If 17.4 bn is raised without purpose or plan, it will all be stolen again through another means .

40 Likes 6 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by BloomingDale(f): 12:21pm On Jun 11, 2023
I don’t understand half of the write up but it sounds very intelligent. 😀😀

188 Likes 20 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by loosecanon50(m): 12:29pm On Jun 11, 2023
To be honest, I no read this thing

41 Likes 6 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by Ayruku: 12:44pm On Jun 11, 2023
loosecanon50:
To be honest, I no read this thing
🤣🤣🤣🤣

18 Likes 4 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by princejohnard(m): 1:04pm On Jun 11, 2023
I bet you didn't comprehend what the repost is all about. From the repost, the committee recommended the so called housing cleansing first; removing bottleneck of government bureaucratic roles like playing the role of a player and referee in the same game.

The committee report estimated about $3-5 billions would be realized in 18 months if the recommendations in the report are IMPLEMENTED!

Let's be positive about the progress of our country. When the country prospers, corruption will be reduced to the barest minimum


MarketDispatch:


Sell downs should not be a first priority without cleansing the industry.
Raise 17.4 bn to do what? If 17.4 bn is raised without purpose or plan, it will all be stolen again through another means .

105 Likes 12 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by GeneralPula: 1:41pm On Jun 11, 2023
MarketDispatch:


Sell downs should not be a first priority without cleansing the industry.
Read it again, slowly..

153 Likes 16 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by GeneralPula: 1:43pm On Jun 11, 2023
BloomingDale:
I don’t understand half of the write up but it sounds very intelligent. 😀😀
It is..

What this means
The Tinubu administration inheriting major budget deficits and a 39% Debt GDP ratio means FG will need to source funding from all areas possible to boost economic development.

Under this plan, they plan to raise the sum of $17.4 billion through NNPCL sell downs, through Selling down interests in JVs to a minority position and developing an operating model that eliminates cash calls and also Divest interests in the refineries and building NLNG operating model.

177 Likes 10 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by BloomingDale(f): 2:20pm On Jun 11, 2023
GeneralPula:

It is..

What this means
The Tinubu administration inheriting major budget deficits and a 39% Debt GDP ratio means FG will need to source funding from all areas possible to boost economic development.

Under this plan, they plan to raise the sum of $17.4 billion through NNPCL sell downs, through Selling down interests in JVs to a minority position and developing an operating model that eliminates cash calls and also Divest interests in the refineries and building NLNG operating model.

Thanks for the explanation. I’m going to have to do a research on what sell downs, JVs and cash calls mean. 😀😀

58 Likes 3 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by owbabs: 2:56pm On Jun 11, 2023
Front page material

2 Likes

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by sylve11: 2:57pm On Jun 11, 2023
His approach to things is top notch; I mean President Bola Ahmed Tinubu.

I wish him well. cool

75 Likes 9 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by Exceed15: 2:58pm On Jun 11, 2023
To double, we will , we shall.. like Buhari.

2 Likes

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by SangoOlukosoOba(m): 2:58pm On Jun 11, 2023
PBAT is a brainbox

153 Likes 12 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by NotKnown: 2:59pm On Jun 11, 2023
Lol. One of the main aims why they gunned for the presidency. Nigeria about to be Lagos 2.0

23 Likes 7 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by goodness4ever(m): 3:01pm On Jun 11, 2023
Nice one. Nigeria will be great again in Jesus name.

54 Likes 4 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by Fuadeiza(m): 3:01pm On Jun 11, 2023
BloomingDale:


Thanks for the explanation. I’m going to have to research what sell downs, selling down interests, JVs, minority positions and cash calls means. 😀😀

My guyyyy, we gather dey

23 Likes 1 Share

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by seanfer(m): 3:01pm On Jun 11, 2023
MarketDispatch:


Sell downs should not be a first priority without cleansing the industry.
Raise 17.4 bn to do what? If 17.4 bn is raised without purpose or plan, it will all be stolen again through another means .

And according to you l, Someone coming with such ideas won’t know what to do to achieve his aim?

37 Likes 4 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by Shigishege2: 3:01pm On Jun 11, 2023
Good

115 Likes 4 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by Toosure70: 3:03pm On Jun 11, 2023
Why can't we leave presidency for this particular tribe to move this country forward , they are too much

90 Likes 17 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by BloomingDale(f): 3:03pm On Jun 11, 2023
Fuadeiza:


My guyyyy, we gather dey

2 Likes 2 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by grandstar(m): 3:03pm On Jun 11, 2023
This is visionary

These reforms that should have taken place decades ago are now being placed on the table especially the sale of the NNPC stake in the joint ventures.

Expect a transformation of Nigeria from just being a crude oil exporter but to the no.1 oil industry hub in Africa.

If this can include reforms in the forex market, this might lead to the Naira strengthening in the black market. It could touch 630 or even stronger.

34 Likes 3 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by Dogalmighty17: 3:04pm On Jun 11, 2023
For 11 years, a country with a functional Navy lost over 46 billion dollars to crude oil theft. And no chief of naval staff has ever been called to answer, no suspect has ever been apprehended. Exactly how Tinubu plans to stop this, I do not know. But if it is the only thing he achieves together with stable electricity, then he is a god send.

48 Likes 3 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by mrvitalis(m): 3:04pm On Jun 11, 2023
This people think all Nigerians are oil APC supporters of hat buy into any analysis that favo them just add grammar and big numbers
Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by nairalanda1(m): 3:04pm On Jun 11, 2023
BloomingDale:


Thanks for the explanation. I’m going to have to do a research on what sell downs, selling down interests, JVs, minority positions and cash calls mean. 😀😀

That's why sometimes it is good to be a visitor to this site...new stuff to learn.

120 Likes 2 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by obyno82: 3:05pm On Jun 11, 2023
sylve11:
His approach to things is top notch; I mean President Bola Ahmed Tinubu.

I wish him well. cool

Bros just be quiet abeg. This was the same thing Atiku said and you goons crucified him.

12 Likes 1 Share

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by Shigishege2: 3:05pm On Jun 11, 2023
MarketDispatch:


Sell downs should not be a first priority without cleansing the industry.
Raise 17.4 bn to do what? If 17.4 bn is raised without purpose or plan, it will all be stolen again through another means .
them swear for wna to always cry and complain about everything? I'm sure you can't even interpret what the article is all about. Yet you are complaining about what you don't understand

143 Likes 11 Shares

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by obyno82: 3:05pm On Jun 11, 2023
Toosure70:
Why can't we leave presidency for this particular tribe to move this country forward , they are too much

Oga please this is damn too childish from you.

5 Likes

Re: PBAT To Double Nigeria’s Crude Oil, Raise $17.4 Bn By Sell Down NNPPC Assets by sotall(m): 3:06pm On Jun 11, 2023
undecided

This looks like someone is already stealing Atiku's ideas about selling NNPC.

Let him go ahead but give credit to Atiku who emphasized it.

7 Likes

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