THURSDAY 19TH MAY 2022

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Returning Ministers: Buhari to Determine Sylva, Ngige, Tallen's Fate, Says Mohammed Declares FG has no plan to ban Facebook FEC okays N169.7bn private sector investments in road Infrastructure Deji Elumoye in Abuja President Muhammadu Buhari has

the final say on the fate of members of the Federal Executive Council (FEC) who decided to renounce

their political ambitions and remain in the cabinet, so says Minister of Information and Culture, Alhaji Lai

Mohammed. Mohammed also disclosed that the federal government had no plan to

ban the social networking website, Facebook, in Nigeria over alleged biased reportage of happenings in

some parts of the country. Continued on page 48

As Nigeria Struggles with Growing Commodity Prices, UK’s Inflation Hits 40-year High… Page 5 Thursday 19 May, 2022 Vol 27. No 9900. Price: N250

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FG Declines Consent to Seplat, Mobil Oil Producing Assets Acquisition Deal Obinna Chima The federal government declined its consent to the proposed acquisition of oil and gas assets belonging to Mobil Oil Producing Nigeria Unlimited (MPNU) by Seplat Energy. The government among others, cited overriding national interest as one of the reasons for rejecting

the deal. The Chief Executive, Nigerian Upstream Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, stated these in two separate letters addressed to the Chairman/ Managing Director, Mobil Producing Nigeria Unlimited, Mr. Richard Laing as well as the immediate past Chairman of Seplat Energy, Dr.

ABC Orjiako. Both letters obtained by THISDAY yesterday, were dated May 13, 2022. Seplat Energy had in February this year, announced its acquisition of oil and gas assets belonging to MPNU. But the deal was subject to Ministerial Consent and other required regulatory approvals. However, few weeks after, it was reported that the Nigerian

National Petroleum Company (NNPC) Limited had opted to exercise its Right of First Refusal (RFR) on the sale of the assets, which then put a hold on the transaction. But Komolafe in the letter stressed that regardless of the mode of the transaction, Mobil Oil still remains to all intents and purposes, the assignor of the asset

under the Nigerian law. “We also note that MPNU failed to follow the procedure for assignments laid down in the Guidelines by not providing the requisite notices to the Commission at all relevant stages of the transaction. Even if the transaction has been between Seplat Energy Offshore Limited and the MPNU shareholders,

responsibility to ensure compliance with Nigerian laws, rules and regulations always remain that of MPNU, the entity that was awarded the assets. “We regret to inform you that His Excellency, the Minister of Petroleum Resources has declined his consent to the transaction. Continued on page 51

The 23 APC Members Seeking to Replace Buhari Story on page 48

Yemi Osinbajo

Ahmad Lawan

Bola Ahmed Tinubu

Ibikunle Amosun

Ogbonnaya Onu

Dave Umahi

Chukwuemeka Nwajuiba

Yahaya Bello

Godswill Akpabio

Tunde Bakare

Kayode Fayemi

Rotimi Amaechi

Ken Nnamani

Abubakar Badaru

Sani Yerima

Ben Ayade

2023: APC Implosion Imminent over Move to Keep Presidency in North, Party Chieftain Warns...Page 8


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