DR Lanre Babalola has always been a proponent of reforms in power sector; sometimes he goes it alone. The way the man sees it: no reforms, no industry. It is that fundamental.  He believes that the reforms that would   increase electricity generation and bring efficiency into the system, is non negotiable. 

The apparent success of the federal government amnesty programme seems to have brought a new sense of relief, not only to the inhabitants of the Niger Delta region but also to the nation’s oil industry, reports UCHENNA KALU.

ODIEN Ajumogobia, minister of state for petroleum resources have said that trade unions in the oil industry had all along been part of the deliberations on the deregulation policy that government says was to take off by November 1. Meanwhile, no new date has been fixed for the take-off of the policy.

OANDO Exploration and Production Limited (OEPL) announced that it has received approval from the ministry of petroleum resources for Exile Resources’ farm out deal, previously announced on January 5th, whereby OEPL can acquire a 75 per cent interest in Exile’s 40 per cent in the Akepo field (OML 90) in return for funding Exile’s previous costs, and financing the future development of the project.

DR.Abdallah El-Badri, secretary general of the Organisation of Petroleum Exporting Countries (OPEC), has described the deregulation policy of the federal government as a welcome development, assuring that the Organisation will support the government for it to succeed.

AFREN Nigeria, and its partner, Oriental Energy Resources, has announced the commencement of drilling at the Ebok-Five well, offshore South -east Nigeria.  Following this, the two parties had signed a rig contract with Transocean for the Adriatic IX jack-up drilling rig.

CHIEF Ernest Shonekan, former head of interim national government and chairman of the Infrastructure Concession and Regulatory Commission (ICRC) has advocated the need for government to continue to play a central role in the power sector.

This is September. The year is on the home stretch. As individuals, organisations and nations struggle to meet the targets they set for the year, Nigerians everywhere wonder at the feasibility of the country’s 6000 mega watts power generation target set by the federal government.