SUNDAY 27TH JUNE 2021

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NEITI: $584m Oil, Gas Deals Sealed in Asset Ownership Changes in 2019 Emmanuel Addeh in Abuja In monetary terms, changes in marginal fields’ ownership in the oil and gas industry were worth about $584 million in 2019, the latest report on the sector by the Nigeria Extractive Industries

Transparency Initiative (NEITI) has indicated. The report showed that the changes were mainly due to internal reorganisation by asset owners, inability to pay outstanding debts owed to government, and non-development of oil assets, leading to revocation

of licences. In all, eight of the deals yielded the $584 million, the sum generated by three of the changes were not available in the report, while four changes were due to revocation of operating licences of the original owners by the federal

government. The licences cancelled were those belonging to Allied Energy Resources, Cavendish Petroleum, Express Petroleum and Gas, Pan Ocean Corporation Asset, and Summit Oil International Limited, which operated OML

120, 110, 108, 98, and OPL 206, respectively. While 7 Energy transferred 62.5 per cent shares of 51 per cent equity in Stub Creek Universal Energy Resources in a transaction worth $3.682 million, it also moved 100 per cent ownership of its shares

in Uquo marginal field to Savannah Petroleum Plc in a $10.586 million deal. In the same vein, FHN transferred its 100 per cent interest to Cape Energy Limited, Vertex Energy, and Continued on page 10

Confusion in Anambra as PDP Holds Parallel Governorship Primaries… Page 5 Sunday 27 June, 2021 Vol 26. No 9575

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Army Chief Orders Destruction of All Boko Haram, ISWAP Enclaves in North-east Troops decimate scores of bandits in Zamfara Shehu of Borno: 17 of the 27 LGAs occupied by B'Haram terrorists recaptured Kingsley Nwezeh in Abuja The Chief of Army Staff (COAS) Major General

Faruk Yahaya, yesterday ordered troops to destroy all enclaves of terrorist groups in the North-east.

His charge came as troops killed scores of bandits in a fierce encounter in Zamfara State.

The army chief also declared that traditional institutions were critical to bringing the insurgency war to an end.

He made the declaration during a courtesy visit to the Shehu of Borno, His Royal Highness, Alhaji Abubakar

Ibn Umar Garbai El-kanemi. A statement issued by the Continued on page 12

Buhari: Drug Trafficking, Abuse Pose More Threat than Insurgency, Banditry Says drug abuse already stretches across three generations Deji Elumoye in Abuja and Laleye Dipo in Minna President Muhammadu Buhari, yesterday, identified drug trafficking and abuse as more threatening to the stability of the nation than banditry and insurgency that are prevalent in some parts of Nigeria. The president, declared that drug abuse has become so endemic in the country now that it already stretches across three generations of grandparents, parents and their wards. This is just as the the National Drug Law Enforcement Agency (NDLEA), has disclosed that within the last five months, no fewer than 2,180 suspected traffickers including five drug barons had been nabbed across the country. President Buhari, who was represented by the Secretary to the Government of the Continued on page 5

PRESIDENTIAL YOUTH EMPOWERMENT SCHEME... L - R: President Muhammadu Buhari; Chief of Staff, Prof Ibrahim Gambari; President Belemaoil, Tein Jack-Rich; Rep. Alhassan Doguwa; and others during the inauguration of the Presidential Youth Empowerment Scheme (P-YES) Tools organised by Belemaoil and the Senior Special Adviser to the Presidential on Youths and Student Affairs to employ 774,000 youths nationwide held at the Presidential Villa, Abuja ...yesterday

Niger Delta Avengers Announces Return, Threatens to Attack Oil Facilities, Politicians… Page 77


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