Economy
President Tinubu Establishes Petroleum Reform, Value Optimisation Task Force
President Tinubu Establishes Petroleum Reform, Value Optimisation Task Force
President Tinubu establishes petroleum reform, value optimisation task force. President Bola Tinubu has approved the creation of a Presidential Petroleum Reform and Value Optimisation Task Force to design the next phase of reforms in Nigeria’s petroleum sector.
This is contained in a statement issued by presidential spokesperson, Bayo Onanuga, on Friday in Abuja.
Mr Tinubu appointed Fola Adeola, co-founder of Guaranty Trust Bank and founder of Fate Foundation, as chairman of the task force.
Mr Adeola will coordinate the group’s activities and ensure the timely delivery of its mandate.
Other members include Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella.
Mofoluwasho Fadayomi will serve as secretary of the task force.
According to Mr Onanuga, the group is a time-bound executive working body mandated to produce execution-ready reform blueprints for Nigeria’s petroleum industry.
“The task force will consolidate ongoing reforms, unlock capital within the sector and strengthen Nigeria’s position as a global energy investment destination,” he said.
He added that the initiative reflected the president’s commitment to building a competitive, transparent and value-driven petroleum industry.
“The task force will function as a technical reform body rather than a representative committee,” Mr Onanuga said.
He said the group would engage industry operators, regulators, investors and civil society organisations.
“The focus will remain on actionable policy design and implementation strategies,” he said.
Mr Onanuga said the task force would report directly to the president and submit monthly progress memoranda.
He added that an interim report would be delivered after three months, while the final report is expected within six months of inauguration.
Mr Tinubu expects the task force to produce three major reform blueprints.
One deliverable is an implementation toolkit for immediate structural fixes, including draft legislative amendments, executive instruments and institutional restructuring proposals.
Another is a Capital and Liquidity Acceleration Blueprint designed to unlock between five and ten billion dollars in sectoral liquidity.
The blueprint is also expected to safeguard Nigeria’s sovereign interests while attracting investment into the industry.
The third deliverable is a National Energy Transformation Strategy.
The strategy will provide a ten-year roadmap with measurable targets for production, foreign exchange earnings, GDP contribution and cost competitiveness.
Mr Tinubu directed all ministries, departments and agencies in the sector to provide full technical support to the task force.
President Tinubu
He also instructed them to submit inventories of ongoing initiatives to ensure alignment with the emerging reform framework.
The president further directed existing committees and reform teams in the petroleum sector to align their activities with the new task force.
The move, according to Mr Onanuga, will prevent duplication of mandates and ensure institutional coordination.
“All relevant documentation and ongoing workstreams must be made available to support the task force’s work,” he said.
The task force will automatically dissolve after submitting and securing acceptance of its final report.
Pensioners Threaten Nationwide Protest, Demand Governors Urgently Review Payment
The National Association of Retirees of State Governments has threatened a nationwide protest unless state governors urgently review pension payments in line with existing labour laws.
Simon Anchaver, president of the union, made the call in Yenagoa at the inauguration of the Bayelsa interim executive of the newly registered union.
The union demanded that the 36 state governors prioritise pension payments.
They equally called on President Bola Tinubu to establish a ministry for pension affairs to guarantee annual budgetary allocations for pensioners’ welfare.
Eereporter.com
The union bemoaned the arbitrary payment of pensions by some governors, and commended the Nasarawa state governor for releasing N7 billion to clear pension arrears and gratuity.
Its national secretary, Bipre Ndiomu, said the union was newly registered and currently inaugurating state executives. He urged state governors to put in place the modalities to guarantee the welfare of pensioners across the country.
Protest Demolition
Bayelsa’s head of service, Wisdom Sawyer, urged the executive to serve as a bridge between retirees and the government, adding that the state government was open to engagement on outstanding issues.
The newly inaugurated state chairman, Bazigha Tanwei, accepted the mandate and promised an open-door policy, regular consultations with members, and sustained advocacy with the state government to clear arrears.
Financial Literacy: NNPC Foundation Trains Batch A Stream 2 Corps Members
In continuation of its Corporate Social Responsibility (CSR) initiatives on financial literacy, the NNPC Foundation Ltd./Gte has conducted its second 2026 National Youth Service Corps (NYSC) skills empowerment training for Batch A, Stream 2 corps members at the FCT NYSC Orientation Camp, Kubwa, Abuja, over the weekend.
Delivered in partnership with the NYSC Skills Acquisition and Entrepreneurship Development (SAED) scheme, the programme covers financial literacy, entrepreneurship, and business development. Its training structure also includes a financial literacy test, a “Kick Start My Business” course, and business proposal pitching.
Eereporter.com
Managing Director of NNPC Foundation, Emmanuella Arukwe, who was represented by the Head, Programme Management, Rose Okonkwo, noted that over one million corps members have been trained nationwide through the programme.
Acting Director of SAED, Usman Yahaya, commended the NNPC Foundation for its consistent support, urging the corps members to acquire multiple skills during their service year in order to position themselves as job creators and not job seekers.
NNPC, NYSC
It would be recalled that last year, 531 youths received Starter Packs and financial support to help them launch their businesses, with most beneficiaries recording measurable progress across their various enterprises.
The NNPC Foundation Ltd./Gte has, through the financial literacy programme, sustained its commitment to preparing young Nigerians towards sustainable careers and self-reliance, contributing to national economic growth and development.
Economy
NNPC: Commissioning, Handover Of Rehabilitated Hospital Wards At National Orthopaedic Hospital, Igbobi
NNPC: Commissioning, Handover Of Rehabilitated Hospital Wards At National Orthopaedic Hospital, Igbobi
This intervention forms part of the NNPC Foundation Ltd./Gte’s ongoing commitment to improving healthcare infrastructure across Nigeria, ensuring that more patients receive care in decent, functional facilities.
Tomorrow, Wednesday, 29th April 2026, the NNPC Foundation Ltd./Gte., the Corporate Social Responsibility arm of NNPC Limited, will commission and hand over three fully rehabilitated hospital wards with a 100-bed capacity at the National Orthopaedic Hospital, Igbobi, Lagos State.
Eereporter.com
The event is scheduled to begin at 11:00 am prompt.
NNPC
This intervention forms part of the NNPC Foundation Ltd./Gte’s ongoing commitment to improving healthcare infrastructure across Nigeria, ensuring that more patients receive care in decent, functional facilities.
Watch the commissioning LIVE on the NNPC Limited YouTube Channel: https://www.youtube.com/@nnpclimited/streams
-
Crime12 months agoKogi Assembly Considers Law To Regulate Rent, Establish Control Board: Tenancy Law
-
News1 year agoAtiku Reveals Why He Failed To Pick Wike As Running Mate In 2023
-
Akwa Ibom1 year agoThe Apostolic Church Gets New Territorial Chairman, Exco
-
Crime1 year agoFederal High Court Jails 2 For Vandalizing Transformer, Telecom Mast In Kogi
-
News1 year agoThe Apostolic Church Gets New National President, Executive
-
Akwa Ibom1 year agoUmo Eno Commences Payment Of 80,000 Naira Minimum Wage With Arrears
-
News1 year agoSenator Natasha Returns To Senate With Husband Amid Seat Dispute
-
Economy12 months agoKiyosaki: Is Tinubu’s Government Afraid Of Ibrahim Traore?