Connect with us

Society

Revealed:Jite Okoloko Battles Sahara Energy, NNPC over Oilfield

Published

on

A storm is brewing in the oil and gas industry. It involves top dogs like Onajite Okoloko, the chairman of Eroton Exploration & Production Company Limited, Sahara Energy, and the Nigerian National Petroleum Corporation (NNPC) Limited. Okoloko, a co-founder of OandO Plc and formidable oil and gas player, started Eroton Exploration & Production Company (Eroton) in August 2013 as an independent and indigenous oil and gas company. The company commenced operations in 2015 and has become a key player in the upstream sector with a critical interest in the Niger Delta petroleum sector.

The Okoloko-led Eroton acquired 45 percent of the contentious oil mining lease (OML) 18, which covers a total area of 1,035 SQKM in an onshore swamp terrain in the Eastern Niger Delta, in a competitive bid conducted by the Department of Petroleum Resources. A consortium comprising Shell Petroleum Development Company, Total Exploration & Production Nigeria Limited, and Nigeria Agip Oil Company owned the OML 18 previously. Sahara and NNPC also own stakes in OML 18 as a joint venture. The JV was going on swimmingly until Eroton ran into troubled waters recently.

About a month ago, the NNPC sacked Eroton as operator of the oil mining lease (OML) 18 on the premise that the oilfield had not been producing for the past two years. A statement signed by Garba Mohammed, the NNPC spokesperson, declared, “In order to protect the joint venture (JV) investment in OML 18, the non-operating partners, NNPC Limited (55 percent interest) and OML 18 Energy Limited (“OML 18 Energy” – 16.20 percent interest), jointly owning 71.20 percent equity, removed Eroton as operator of the JV in line with the provisions of the joint operating agreement (JOA). NNPC Limited and OML 18 Energy further appointed NNPC Eighteen Operating Limited as operator of the JV.”
Among other reasons, the NNPC stated that production has declined from thirty thousand barrels per day (30,000 bpd) to zero and that Eroton defaulted in paying outstanding taxes, which forced the Federal Inland Revenue Service (FIRS) to close its head office.

Therefore, the NNPC, “as the majority shareholder with a unique stewardship responsibility to the federation, is committed to assuring the energy and financial security of the country is uppermost in its business decisions.” It further announced that Eroton and the Nigerian Upstream Regulatory Commission (NUPRC) have both been notified of the change in operatorship.

Curiously, the NNPC handed over the oilfield to one of its subsidiaries, the NNPC Eighteen Operating Limited. Eroton claimed then that it was not to blame for production failing, citing the unavailability of the Nembe Creek Trunk Line as the primary problem. The company further contended that unknown armed men allegedly acting on behalf of Sahara gained access to its property and displaced some of its staff.

Consequently, Eroton has filed a suit in the relevant court to ensure due process is followed in the takeover of operatorship and defend its legal right. The Managing Director of Eroton, Emeka Onyeka, said the NNPC and Sahara have been taking illegal actions contrary to the contract of the Joint Operating Agreement (JOA).

“In complete breach of the terms of the Joint Operating Agreement governing OML-18, and with total disregard for due process, the non-operators of OML-18, NNPC Limited and Sahara Field Production Limited (Sahara) (now known as OML 18 Energy Resource Limited) appointed a company, NNPC Eighteen Operating Limited as operator of OML-18. Eroton has issued a Notice of Arbitration to NNPC and Sahara in accordance with the terms contained in the JOA.

“On the basis of the lack of grounds for the purported takeover of operatorship in accordance with the terms of the JOA governing the block, lack of due process and flagrant breach of the rule of law,” Onyeka said. He implored the public to disregard the report that the company has been removed as operator of OML 18, stating that Eroton remains the operator and assured that the court will rule in the firm’s favour.

Society

Tunde Olaogun Celebrates Birthday With The Down Trodden. (Photos)

Published

on

By

Continue Reading

Society

He Kept the Governor Waiting For Several Hours…. Multiple Sins Of Impeached Ex Speaker, Obasa!

Published

on

By

 

Arise TV host, Reuben Abati has highlighted some reasons that might have led to the impeachment of the Speaker of the state House of Assembly, Mudashiru Obasa.

 

 

Speaking on the Arise Morning show on Tuesday, January 14, 2025, Abati in his submission indicated that Obasahas breached several protocols in the house and had at some point been disrespectful to Lagos State Governor, Babajide Sanwo-Olu.

 

“And then there are reports that the governor will want something, he will not listen to the governor. He will arrive late at events that the governor will have arrived earlier than him which is a breach of protocol. So there’s that flaw of character. The argument is that he had become so disrespectful of the governor and the power establishment in Lagos State that they felt they needed to do something about him, Abati said in his submission.

 

 

All the House of Assembly members who wanted him removed said he wanted change, and that they were tired of him. That must have been a failure on his own part. And they didn’t even do it in his presence. He was far away in Atlanta, Georgia. They left him stranded, removed his pictures, impeached him, and they said even the president tried to talk to him. The president was not impressed. So he had it coming.”

 

Multiple sources confirmed that the lawmakers removed Obasa during a sitting on Monday after 90 per cent of the House backed the motion.

 

The Deputy Speaker, Mojisola Meranda, was subsequently sworn in as the new and first female Speaker of the Assembly.

 

 

In a viral video, a lawmaker, flanked by other members of the Assembly, said, “It is only death that is constant, so change is inevitable. Members of the parliament today have decided to change the leadership of the House. The Constitution makes it clear that the House has the power to regulate its proceedings.

 

Meanwhile, The Lagos State Governor, Babajide Sanwo-Olu, on Monday, distanced himself from the impeachment of the Speaker of the state House of Assembly, Mudashiru Obasa.

 

 

Sanwo-Olu’s Special Adviser on Media & Publicity, Gboyega Akosile, in an interview with The PUNCH, described Obasa’s impeachment as a strict legislative affair devoid of politics or the state government’s influence or interference.

 

 

 

Continue Reading

Society

Alaafin: Owoade gears up for traditional rites, royal families tackle Makinde

Published

on

By

In a race to conclude all processes before the four-week coronation date set by Governor Seyi Makinde, the new Alaafin of Oyo, Oba Akeem Owoade, has begun preparation for the mandatory traditional rites.

Makinde had on Monday presented a certificate of appointment and staff of office to Owoade, at the Governor’s office, Ibadan, affirming his appointment as the 46th Alaafin.

Speaking  on Tuesday, the Head of Oyo princes, Chief Mukaila Afonja, said the princes and those concerned with overseeing the Alaafin’s traditional rites were itching for Owoade to begin the processes.

As part of the processes, he said the Alaafin would visit a number of houses to offer sacrifices, make appeasements, and even sleep over at some of the houses to carry out some night rites.

After performing the traditional rites at some traditional homes in Oyo town, the new Alaafin will then enter Ipebi (seclusion) for the conclusion of the traditional rites within a secluded part of the Alaafin palace.

The ancestral rituals to be done during Ipebi would be the crescendo of rituals before Owoade is crowned Alaafin.

Affirming the traditional processes set to unfold, Afonja said, “Kabiyesi has not started the traditional rites but will start soon. He has gone to prepare ahead.

“He will do some sacrifices, and appeasement at various places before Ipebi at a secluded place in the palace. The governor has given four weeks to do the coronation, so all the traditional rites will be concluded before then.”

Afonja, who is Baba Iyaji of Oyo, appealed to those aggrieved at the emergence of Owoade to embrace the fact that Oyo now has a king.

Afonja’s appeal came as nine royal families from Oyo, otherwise known as the Atiba 9, declared their rejection of the appointment of Owoade as Alaafin.

The Atiba 9 hinged their rejection on that the appointment of Owoade runs contrary to the custom, culture and tradition of Oyo, and is against the rule of law.

Their stance was contained in a statement issued by Prince Sina Afolabi of the Adeitan Royal Family.

The other eight princes from the Atiba Royal Families included Prince Remi Azeez (Tella Okitipapa); Prince Lamola Olanite (Olanite); Prince Agboin Adelabu (Adelabu); Prince Raji Adeniran (Adeniran); Prince Nureni Taiwo (Tella Agbojulogun); Prince Muftau Adejare Adesokan (Adesokan Baba Idode): Prince Adesiyan (Adesiyan) and Prince Bello Rasheed (Abidekun).

They noted that they were not against the persons of Prince Akeem Owoade and Prince Ridwan Gbadegesin, another contestant, as they had the legitimacy to aspire for the throne, but that the process that produced Owoade ran contrary to the tradition of the ancient Oyo Town.

They maintained that they were in court to challenge the processes that sprung up in both Owoade and Gbadegesin.

“What the governor did was totally against the highly revered Alaafin stool. His action has reduced the throne to an object of ridicule.

“It was expected of Governor Makinde, an apostle of due process, to have followed a just line of action and avoid reducing the Alaafin stool or the Alaafin to an Oba Gbandu or Oba Yebuyebu (an ordinary oba without honour).

“When the Ooni of Ife, Oba Enitan Ogunwusi, was to be made the oba, he entered Ipebi and everything was done by the custom and tradition of Ife before he was proclaimed as the Oonirisa.

“We don’t want our revered stool or the Alaafin to become an object of ridicule and mockery in the future. We don’t want him to be referred to as an Oba that was anointed in Ibadan, precisely at the Office of the Governor. We don’t want people to refer to him as an Alaafin who did not enter Ipebi.

“The Alaafin of Oyo is a prominent and first-class traditional ruler in the entire Yorubaland. We, the Atiba 9, are against the process embarked upon by the state government to make Omooba Owoade the Alaafin.

“It should be stopped and the right thing must be done in appointing a new Alaafin.

“We don’t have anything personal against Omooba Owoade who was appointed as the Alaafin on Monday. He too made efforts to become the Oba. We don’t have any personal issues with Omooba Ridwan Gbadegesin either.

“However, our grouse is against the process through which Owoade and Gbadegesin emerged as candidates to the Alaafin Stool. And what Governor Makinde had done by making Omooba Owoade the Alaafin is an attempt to ridicule the throne. We, the Atiba 9, don’t want it!

“We respect Professor Wande Abimbola who consulted Ifa, but if he wants to be fair to all, he should come and consult Ifa at Ojude Ogun here in Oyo,” the statement read.

The Atiba 9 also charged the Oyo Mesi, under the leadership of Basorun, to amicably resolve whatever disagreement they have among themselves, noting that they are the only ones who can initiate the process of selecting a new Alaafin.

“Whatever is the grouse or disagreement between the Basorun and other members of the Oyo Mesi should be resolved.

“They should call themselves together and settle their crisis amicably before any process of installing a new Alaafin can be embarked upon,” the statement further read.

 

Continue Reading

Trending