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Seplat records $177m pre-tax profit in 2021

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For the year ended December 2021, Seplat Energy Plc made a pre-tax profit of 177 million dollars.

The figure is 321 percent greater than the company’s previous high of 80 million dollars in 2020, when it was listed on the Nigerian Exchange and the London Stock Exchange.

Mr Roger Brown, Seplat Energy Plc’s Chief Executive Officer, made the announcement to reporters after the company’s 9th Annual General Meeting on Wednesday in Lagos.

Brown stated that Seplat’s revenue climbed by 38% to $733 million in 2021, compared to $531 million in the previous fiscal year.

In 2021, he claimed, the corporation made 618.4 million dollars from oil sales and 114.8 million dollars from gas sales.

According to him, as a result of the COVID-19 epidemic, oil revenues increased to 70.54 dollars per barrel in 2021, compared to 39.95 dollars per barrel in 2020.

The board also agreed to pay 10 cents per share in dividends to its stockholders, which will be paid quarterly, according to Brown.

Brown also stated that the continuing war between Russia and Ukraine has offered Nigeria with a once-in-a-lifetime opportunity to enter the European market with its gas.

He did say, though, that Seplat remained dedicated to satisfying the country’s domestic gas needs in order to minimize the country’s lack of energy access, which he said was vital to development.

Dr. ABC Orjiako, Seplat Energy Plc’s outgoing Board Chairman, also stated that the company would continue to make significant expenditures to increase its oil and gas production and reserves.

Orjiako said that Seplat had paid the federal government about $2 billion in taxes and royalties, as well as roughly $12 billion to its production partners, including the Nigerian National Petroleum Company (NNPC) Ltd.

(NAN)

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North Hails Tinubu’s Marching Order to End Banditry by 2025

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President Bola Ahmed Tinubu

Stakeholders in northern Nigeria have applauded President Bola Tinubu’s directive to the military to end banditry and insecurity by the end of 2025, describing it as a necessary step toward restoring peace and stability.

The Minister of Defence, Abubakar Badaru, who announced the directive recently, assured that the military would sustain its aggressive operations against criminal elements.

“The bandits are now on the run, but the military will not rest until we end this thing. The president has given us marching orders to end insecurity in every part of our country by the end of this year.

“The Chief of Defence Staff and the National Security Adviser are working day and night to actualize that target. As you have seen, we are putting pressure on all the theatre operations,” Badaru said.

Citizens across the North-East and North-West welcomed the development, stating that insecurity remains a major obstacle to progress, particularly in food security and economic activities.

A Borno-based farmer, Abubakar Ibrahim, said the presidential order gave hope for a return to normalcy. He stressed the need for a massive military push to clear insurgents from the Lake Chad region, which is crucial for all-year-round farming.

“We are happy a deadline of December is given. There’s always a need for a timetable to get things done. Rehabilitation, reconstruction, and resettlement programmes are ongoing in Borno, but we still face challenges from remnants of terrorists that need to be cleared,” Ibrahim said.

In Adamawa, former Commissioner for Information and Strategy, Ahmad Sajoh, also commended the presidential order, emphasizing its potential to restore economic activities.

“It is indeed very comforting to hear the Commander-in-Chief issue a direct order to the troops. Flushing out bandits has multiple benefits, including the restoration of productive activities such as farming and trading. That is the real import of the President’s directives.

“While expressing total support for this bold decision, it is also necessary to advise that the President should equally give another directive for the non-kinetic component of the fight against banditry and insurgency. A robust public enlightenment campaign should accompany this renewed onslaught,” Sajoh said.

In Zamfara, residents of Shinkafi Local Government, including Salisu Tunga and Aminu Bello, praised recent military gains but urged for intensified operations.

“Bandits are still harassing some communities in Shinkafi, raising the need for more intense military operations to complete the job. Up to now, travellers need military escort in areas like Dansadau, Magami, Dangulbi, Zurmi, Kauran Namoda, Shinkafi, Moriki, Maradun, and Maru,” Tunga said.

He further lamented that some communities in Tsafe, Zurmi, and Bukkuyum LGAs were still being forced to pay levies to bandits, stressing the need for decisive action.

In Kebbi, the Deputy Governor, Sen. Umar Tafida, confirmed that bandits were infiltrating from neighbouring states and Niger Republic but assured that security measures were in place to counter the threats.

The Director in charge of Security at the Kebbi Cabinet Office, Alhaji AbdulRahman Usman, highlighted significant progress in securing the state.

“They used to attack Argungu, Augie, and Arewa Local Government Areas but have been chased away and dealt with,” Usman said.

In Sokoto, Special Adviser on Security Matters to Governor Ahmad Aliyu, Col. Ahmad Usman (Rtd), described the presidential order as timely, noting that military operations were yielding results.

“Many terrorist enclaves were identified and destroyed, with several bandits neutralized. Hundreds of kidnapped victims are also being rescued in the ongoing operations,” he said.

With the military intensifying its offensive, residents remain hopeful that the December deadline will bring an end to the scourge of banditry and pave the way for lasting peace.

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Oyebanji Warns Ekiti Pilgrims Against Tarnishing Nigeria’s Image in Israel

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Oyebanji

Ekiti State Governor, Biodun Oyebanji, has urged 17 Christian pilgrims traveling to Israel to uphold Nigeria’s reputation and avoid any actions that could bring embarrassment to the country.

Speaking during a prayer service held in Ado-Ekiti ahead of their departure, Oyebanji, represented by Deputy Governor Monisade Afuye, emphasized the importance of spiritual rebirth in shaping a nation’s development through attitudinal change and character rebranding.

He encouraged the pilgrims to remain dedicated to the spiritual exercise, ensuring that the benefits reflect in their personal lives and society at large.

“We desire a society that is corruption-free, where people can imbibe the fear of God in their operations and daily lives,” Oyebanji stated.

“I therefore charge you to pray not only for yourselves, but for our dear state, nation, and the world at large. We live in times that require our collective prayer and unity more than ever.

“I plead that you do not engage in any act that can jeopardize the intentions of this pilgrimage and put our nation into unwarranted international embarrassment,” he added.

The governor reminded the pilgrims that the journey was not just physical but spiritual, urging them to make the necessary sacrifices and embrace piety to maximize the benefits of their participation.

In his exhortation, the Government House Chaplain, Segun Awolumate, described spiritual voyages as a source of blessings, emphasizing that true transformation would only come through holiness.

“I expect you to be holier and believe more in God after this journey. You have to be fully revived. Your prayers too must bring revival to Ekiti and Nigeria.

“The land you are visiting is not ordinary; it is filled with the spirit and covenant of God. Make good use of this opportunity,” Awolumate said.

Also present at the service were the Secretary of the Ekiti State Christians’ Pilgrimage Welfare Board, Sunkanmi Adu, as well as the Chairman of the Christian Association of Nigeria (CAN) and Chairman of the Christian Pilgrims Welfare Board, Rev. Emmanuel Aribasoye, among others.

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Akwa Ibom Set to Host Maiden Niger Delta Sports Festival – Gov. Eno

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Governor Umo Eno

Akwa Ibom State Governor, Umo Eno, has assured of the state’s readiness to host the maiden edition of the Niger Delta Sports Festival, pledging a top-notch event that will strengthen regional unity and showcase local talents.

Speaking on Friday in Uyo during a courtesy visit by a delegation from the Niger Delta Development Commission (NDDC) led by its Managing Director and Chief Executive Officer, Dr. Samuel Ogbuku, Governor Eno expressed gratitude for the choice of Akwa Ibom as the festival’s venue.

“Sports remain a veritable source of strengthening the existing bonds among the Niger Delta states and its people,” Eno said, emphasizing the festival’s role in fostering collaboration and boosting the local economy. He assured the NDDC team that the state government would set up a working committee to ensure the event’s success.

Dr. Ogbuku highlighted the NDDC’s vision behind the festival, stating that beyond infrastructure development, the commission is committed to uniting the region and promoting its abundant sporting talents.

“The unanimous adoption of Uyo as the venue for this event was occasioned by the serenity of the state and the availability of requisite infrastructure,” he said.

According to Ogbuku, the festival, scheduled for April 1-8, marks the NDDC’s 25th anniversary and will feature 20 sporting events at the Goodwill Akpabio International Stadium.

“It is not only because Akwa Ibom is the Promise Land, but Akwa Ibom has also been able to provide the right facilities to accommodate the 20 sporting events that we are putting together for the Niger Delta Sports Festival,” he added.

Athletes, sports enthusiasts, and stakeholders from the nine states of the Niger Delta are expected to converge in Uyo for the one-week sporting extravaganza.

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