Uncategorized
Applauding Tinubu’s Upstream Prosperity Through Strategic PIA Implementation
By Aminu Adamu Aminu
The restoration of hope for Nigerians and the effectiveness of the Petroleum Industry Act (PIA) in delivering tangible, evidence-based, and progressive reforms are no longer matters of doubt or mere sloganeering among Nigerians and residents. These are not empty campaign promises but the reality of a new political order—a game-changer reshaping narratives, particularly in the petroleum sector, where the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is championing transformative reforms.
What began two years ago, upon President Bola Ahmed Tinubu’s assumption of office, as an ambitious plan has evolved into a practical force, changing lives and transforming the nation with numerous tangible benefits.
President Tinubu’s administration has made significant strides in restoring hope to Nigeria’s oil and gas sector, fast-tracking the implementation of the PIA, and yielding measurable, positive results.
At the core of NUPRC’s reforms is an unwavering commitment to transparency, which has strengthened the PIA’s legal framework, leading to remarkable improvements in reporting obligations and host community provisions. These reforms, driven by strategic regulatory leadership and robust presidential backing, have significantly boosted oil production, steadily increasing Nigeria’s crude oil output to an all-time high exceeding 1.7 million barrels per day.
This achievement has restored investor confidence, attracting international oil companies (IOCs) back to Nigeria and encouraging direct foreign investment with renewed optimism. Through deliberate and proactive efforts, the NUPRC has fostered an environment of fruitful engagement and collaboration rooted in shared values.
This has enhanced the enforcement of improved metering systems, a decisive clampdown on oil theft, and the promotion of decarbonization. These initiatives reflect a forward-thinking agenda aligned with global standards and best practices, fostering international trade and reinforcing Nigeria’s energy independence.
The multifaceted positive impacts on Nigeria’s economy have stimulated growth, stabilized the exchange rate, and bolstered investor confidence, attracting foreign investment pledges totaling approximately $50.8 billion. An improved balance of trade has resulted in a trade surplus of about N3.42 trillion in the fourth quarter of 2024, alongside consistent GDP growth. This has led to increased revenue allocations to subnational governments and local government councils, enabling them to clear salary arrears and debts, improve citizen welfare, and invest in social services and infrastructure. These developments have further boosted economic growth and consolidated the administration’s gains.
The Renewed Hope agenda also seeks to resolve lingering industrial disputes, creating a more stable and attractive investment environment. This facilitates an energy transition aimed at ensuring the long-term sustainability of Nigeria’s oil and gas sector.
The notable increase in transparency, accountability, and efficiency within the industry has improved regulatory oversight and community engagement, fostering a more favorable and robust business environment. This is evident in the substantial investment pledges, including the aforementioned $50.8 billion in foreign investment commitments.
Beyond stabilizing the exchange rate, reducing inflation, and increasing government revenue, Nigeria’s Eurobond issuance in late 2024 attracted over $9 billion in orders—four times the subscription level—demonstrating strong investor confidence in the nation’s economy.
This success reflects a consistent commitment to policy continuity, inclusivity, stakeholder engagement, and a strong emphasis on maintaining transparency and accountability in the PIA’s implementation.
Given the critical role of these reforms in shaping Nigeria’s trajectory, concerted efforts have ensured a profound impact. The reforms have moved the country far from its pariah days, establishing transparent licensing rounds. Recent bid rounds and concession awards, such as the 57 Petroleum Prospecting License (PPL) awards in 2022, the 2022 Mini-Bid Round, and the 2024 Licensing Round, were executed with unprecedented transparency and competitiveness, drawing exceptional investor participation.
The pragmatic implementation of the PIA has also led to a strategic 28 Field Development Plans Initiative, securing $18.2 billion in investment commitments. This initiative is expected to unlock 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas. Additionally, rig counts have risen significantly, from 8 in 2021 to 43 as of September 2025, signaling a substantial increase in exploration and production activities.
In the words of Engr. Gbenga Komolafe, Chief Executive of NUPRC, “With the Petroleum Industry Act as our foundation, reinforced by bold Presidential Executive Orders and transformative regulatory initiatives, we are not just opening our doors to investment; we are building a world-class upstream oil and gas environment that rewards ambition, innovation, and responsibility.”
Given this resolute determination, as demonstrated by the effective implementation of the PIA through the NUPRC, President Bola Ahmed Tinubu is undeniably steering Nigeria’s upstream petroleum sector in the right direction.
Aminu writes from Kaduna
Uncategorized
Mobile Operators Plan $1bn Investment In Network Infrastructure – NCC
Nigerian Communications Commission (NCC) has revealed that Nigeria’s telecommunications operators plan to increase capital expenditure on network infrastructure in 2026, with investments expected to exceed the more than $1billion (about N1.4 trillion) spent across the sector in 2025.
The planned increase follows infrastructure expansion in 2025, when operators deployed over 2,850 new network sites nationwide. The rollout extended coverage across urban areas, rural communities and major transport routes, while supporting the expansion of fifth-generation (5G) services.
Aminu Maida, executive vice chairman of the NCC, said improvements recorded in the regulator’s latest network performance report were driven by industry investment in 2025.
He said the report reflects the impact of sustained capital spending on network capacity and coverage.
“Industry investment of over $1bn in 2025 supported the deployment of more than 2,850 new sites to expand coverage and capacity nationwide,” Maida said. “The commission has received commitments from operators to exceed these investment levels in 2026.”
Nigeria faces increasing pressure on telecommunications infrastructure due to rising data consumption, higher operating costs and the need to extend reliable connectivity beyond major cities, a challenge common across emerging markets.
The increase in investment follows a period of financial strain in the sector, during which operators sought tariff adjustments. A 50 per cent increase in service charges, approved by the NCC and the Ministry of Communications and Digital Economy, helped improve cash flow and restore operators’ capacity to invest in network expansion.
The NCC’s fourth-quarter 2025 report showed improvements in key performance indicators, including higher median download speeds in both urban and rural areas. The report also indicated a reduction in differences in video streaming quality between locations and continued strengthening of the 4G network.
Maida said the commission uses independently verified performance data to guide regulatory decisions on spectrum management, infrastructure upgrades, service quality enforcement and rural connectivity expansion.
Despite these improvements, the NCC said challenges remain. The report identified gaps in 5G availability, disparities in upload speeds and areas with limited mobile coverage.
The commission said increased infrastructure spending in 2026 would be important to addressing these gaps and supporting growing demand for data services. It added that the publication of network performance reports is part of its effort to promote data-driven regulation, supported by analysis from network intelligence firm Ookla.
With operators expected to invest beyond $1bn in 2026, the NCC said it anticipates further improvements in network reliability, speed and coverage.
The commission said it will continue to work with industry stakeholders to ensure that higher investment leads to measurable improvements in service quality for subscribers.
News
Federal fire service decorates 130 officers in Kano
The Kano State Command of the Federal Fire Service (FFS) has decorated 130 officers recently promoted to various ranks in a ceremony held in Kano.
The Command’s Controller in the state, Kazeem Sholadoye disclosed this in a statement issued by the service’s Public Relations Officer, Al-Hassan Kantin on Wednesday in Kano.
Congratulating the officers, the state controller described their promotion as well deserved and a call to greater responsibility and professionalism.
Sholadoye charged the officers to see their new ranks as an opportunity to demonstrate increased commitment to protection of lives and property.
He reminded them that promotion comes with higher expectations in service delivery.
Speaking on behalf of the promoted officers, Deputy Superintendent of Fire in the command, DSF Abdullahi Muhammad expressed appreciation to the management for organising what he described as a befitting ceremony.
He reiterated the readiness of the officers to rededicate themselves to duty and uphold core values of the Federal Fire Service.
Cover
Call for sugar tax detrimental to manufacturing sector- CPPE
The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern over renewed calls in some quarters for the imposition of additional taxes on sugar-sweetened non-alcoholic beverages in Nigeria.
CPPE Founder, Dr Muda Yusuf, made this known on Wednesday in Lagos via a statement.
Accorsing to Yusuf, while public health challenges such as diabetes and cardiovascular diseases warrant urgent attention, the proposition of a sugar-specific tax is misplaced and economically risky.
He said that the call was not adequately contextualised within Nigeria’s prevailing structural, social, and macroeconomic realities.
“Advocacy for sugar taxation in Nigeria is largely driven by externally derived policy templates, particularly those associated with global health institutions.
“However, global best practice does not support sugar taxation as a sustainable or standalone solution to non-communicable diseases, especially in economies characterised by high inflation, weak purchasing power, fragile industrial recovery, and widespread poverty, such as Nigeria,” he said.
Yusuf noted that the country’s food and beverage industry remained the largest and most dynamic segment of the manufacturing sector, with the non-alcoholic beverages sub-sector playing a particularly significant role.
He said data from the National Bureau of Statistics indicated that the food and beverage industry contributed approximately 40 per cent of total manufacturing output, making it a critical driver of industrial growth, employment and value creation.
He added that beyond factory-level operations, the sector sustained an extensive value chain that spans farmers, agro-input suppliers, processors, packaging companies, logistics providers, wholesalers, retailers, and the hospitality industry.
“Collectively, these activities support millions of livelihoods nationwide.
“Any policy that undermines this sector therefore carries wide-ranging economic consequences, including job losses, declining household incomes, reduced investment and setbacks to poverty-reduction efforts,” he said.
The CPPE boss added that manufacturers of non-alcoholic beverages were among the most heavily taxed and cost-pressured businesses in the Nigerian economy.
He listed existing fiscal obligations to include 30 per cent Company Income Tax, 7.5 per cent Value-Added Tax (VAT), N10 per litre excise duty, four per cent National Development Levy on assessable profits.
Others, he said, were four per cent Free on Board levy on imported inputs, import duties of five per cent to 15 per cent on intermediate raw materials, 0.5 per cent ECOWAS levy, property taxes at sub-national levels and multiple state and local government levies.
“These fiscal pressures are further compounded by Nigeria’s challenging operating environment, including high energy costs, prohibitive logistics expenses, exchange-rate volatility, and elevated interest rates.
“The cumulative effect has been rising production costs, shrinking margins, subdued investment appetite, and higher consumer prices,” he said.
Yusuf said available evidence suggested that sugar taxes delivered limited public health benefits unless embedded within broader, long-term lifestyle, behavioural, and structural interventions.
He added that in Nigeria, the rising incidence of diabetes and related non-communicable diseases was driven primarily by poor overall diet quality, particularly carbohydrate-heavy meals, physical inactivity and sedentary lifestyles.
Other causes, he observed, included urban design that discouraged walking and cycling, genetic and hereditary factors.
Yusuf said that while taxation may marginally influence consumption patterns, it does not address these root causes.
“Conversely, the economic costs of additional taxation, higher consumer prices, reduced demand, job losses, and weakened industrial investment are immediate, tangible, and potentially severe,” he said.
Yusuf said a more sustainable path to public health outcomes would be for policymakers to prioritise evidence-based, inclusive and development-friendly alternatives.
They include lifestyle and nutrition education, community-based health awareness programmes, promotion of physical activity and exercise, encouragement of fruit and vegetable consumption.
Others, he said, were healthy food subsidies rather than punitive taxation and urban planning that supports walking, cycling and active transportation.
“These measures directly address the underlying drivers of diabetes and cardiovascular diseases, deliver broader social benefits, and avoid undermining a critical pillar of Nigeria’s manufacturing and employment base.
“Nigeria’s economy remains in a delicate recovery phase.
“Introducing additional sugar-specific taxes at this time risks reversing recent industrial gains, weakening employment outcomes, and undermining the objectives of ongoing manufacturing-friendly fiscal reforms,” he said.
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