The news of the election of the Minister of Petroleum Resources, Mrs Diezani
Alison-Madueke, as President of the global oil cartel, the Organisation of
Petroleum Exporting Countries (OPEC), came unexpectedly, but forcefully, from Vienna,
Austria, on Thursday,
November 27, this year, amid the increasing tension occasioned in some parts of
northern Nigeria
by Boko Haram’s bombing activities.On-line publications and on-line versions of the print media celebrated it
on Thursday night. The electronic media made a feast of it before the
newspapers ran with the story on Friday, November 28, which coincidentally was
the day the Central Mosque in Kano was bombed and scores of Muslim faithful
were killed while many of them sustained varied degrees of injuries.
Indeed, the bombing cast a pall on the general security outlook of the nation and imposed restraints on men of conscience who should have celebrated the refreshing development that rubbed off positively on Nigeria at the 166th meeting of the OPEC meeting in Vienna. Truth is, Mrs Alison-Madueke’s election deserved pomp, especially for being the first female oil minister of a member nation of OPEC to step in the saddle as its president.
Regardless of the situation back home, she will assume office in January 2015 to succeed former Libya’s Vice Prime Minister for Corporations, Abdourhman Atahar Al-Ahirish. Before stepping in the saddle as President, Alison-Madueke started out earlier in year as the alternate president of OPEC. Her election is very significant , coming at a time that her principal and President Goodluck Jonathan is heading for the polls on February 14, next year, to seek the renewal of his mandate by the Nigerian people. The prominent and pre-eminent position into which Alison-Madueke has launched the Federal Government and Nigeria will count a lot in the critical assessment and performance rating of the Jonathan administration.
This, perhaps, explains why the Peoples Democratic Party (PDP) did not fail to seize the moment by quickly appropriating the feat recorded by the Petroleum Minister, describing it as a confirmation of the increasing global confidence in the Federal Government under the leadership of President Goodluck Jonathan. The party, in a statement by its National Publicity Secretary, Olisa Metuh, expressed confidence that “with Mrs Allison-Madueke’s election, Nigeria is now, more than ever before, advantageously positioned to contribute to and influence major decisions in the global oil market.”
Just like the PDP, many watchers of the global oil market and Alison-Madueke’s trajectory are not, at all, surprised at the decision by the OPEC member nations to hand the task of presiding over their affairs to a prominent cabinet member in the Nigerian government, who has defined her commitment as a champion of progressive reforms in the all important oil and gas sector, which is the critical hub around which our national economy revolves.
Back home, Alison-Madueke’s stewardship in the petroleum ministry has produced landmark achievements in the oil and gas sector. The consensus in the industry is that she has demonstrated capacity and exemplary leadership at the domestic front even as she has the capabilities to provide the OPEC with sharply-focused leadership.
Her impressive development agenda in the critical oil and gas sector of the national economy has put the sector on the path of irreversible progress. Consider some of the achievements: the Petroleum industry under her watch, as of March, this year, ensured annual average crude oil production of approximately 2.3 mbopd crude oil and increased gas production from 6.3 to 8.1 bcf/d by year-end 2013, despite incessant pipeline vandalism and crude oil theft.
The administration commissioned the Usan Floating Production, Storage and Offloading (FPSO) vessel with a processing capacity of 180,000bbls/day operated by Mobil. The Usan field, as of March this year, was producing 103,000 barrels a day. It is on record that the participation of indigenous oil and gas companies in the industry has increased, leading to the commissioning of several critical infrastructure projects by Nigerian companies including: the establishment of Ebok terminal by an indigenous company, with current daily crude oil production of 7,000 bpd and a plateau production of 50,000 bpd at full capacity; commissioning of Africa’s largest vessel, christened Akpevweoghene, an Offshore Pipe-laying/Derrick Barge, in May 2013; and commencement of the landmark Egina FPSO vessel platform integration in Nigeria
In line with the transformation programme, in terms of Gas-to-Power, Allison-Madueke’s leadership has continued frontier exploration in the Chad Basin and signed agreements for the aero-magnetic survey of other hinterland basins. It is pursuing the implementation of the Gas Master Plan even as it has completed over 450 km of critical gas backbone pipeline infrastructure, including: Itoki – Olorunshogo, Escravos – Warri – Oben, Imo River – Alaoji, and Oben – Geregegu. According to reports, the Ministry has kicked off 1,860 km of ongoing gas pipeline infrastructure comprising: Oben – Lagos, Obiafo – Obrikom – Oben (Ob3), and Calabar – Ajaokuta – Kano.
The administration has reportedly commenced Front-End Engineering Design (FEED) of the 850mcf/d Gas processing facility, to support Domestic supply of gas to power and the Ogidigben Industrial Park. In line with this, the Ministry of Petroleum had, with the assistance of the Ministry of Finance, raised US$450 million dollars in Eurobonds in support of pipeline extensions for the Calabar – Ajaokuta – Kano Pipelines Project.
Indeed, President Jonathan called on and reiterated some of the achievements in his 2015 presidential election declaration speech at the Eagle Square on November 11, this year, wherein he said that “in our determination to encourage much greater participation of Nigerians in the oil and gas industry, one of the first action I took, was the enactment of the Nigerian Oil and Gas Industry Content Development Act. As a result of this law, indigenous Nigerian participation levels in upstream and downstream activities of the oil and gas industry have increased by over 45 percent, thereby increasing employment opportunities for our youth.”
Jonathan said that the Federal Government also succeeded in eliminating the long queues that previously characterized fuel stations in the country through regular and sustained product supply, which ties with the report by the Ministry of Petroleum that it has been able to maintain unprecedented stability in the supply and distribution of petroleum products across the country.
It is also significant to note that under the watch of Alison-Madueke, the Petroleum Ministry, through the NNPC has been able to aggressively pursue the plan to emplace gas infrastructure to ensure adequate gas-to-power and gas-to-industry, with over 450km of gas pipelines already installed over the last three years and another 2000km being planned for installation over the next four years.
In her first task of bringing knowledge to bear on the developments in the sector, Alison-Madueke said in Vienna, Austria, shortly after her election, against the backdrop of the current fall in global oil price, that Nigeria was now left with no choice other than to embark on an aggressive development and domestic utilization of its gas. President Jonathan also spoke about this at the Eagle Square declaration: “in terms of gas supply, we have grown from less than 500 million cubic feet per day, four years ago, to about 1.5 billion cubic feet per day currently. Our goal is to attain 4 billion cubic feet per day over the next four years.”
These are enviable records of performance. Having now been given the onerous responsibilities to preside over the affairs of the oil cartel and define its development agenda, she is expected to, in her characteristic manner, break the glass ceiling. And speaking with journalist at the end of the Federal Excutive Council (FEC) meeting in Abuja, Alison-Madueke said as OPEC President, she would ensure that before anything else, necessary steps are taken to stabilize global oil prices.
Going by her dispositions, Nigerians should also be rest assured that their country would not bear the brunt of the fall in oil prices. Nigeria, according to her, has to be much more competitive at this time and going into the future, pointing out that “we cannot continue to do business as usual; we must ensure that we have the right enabling parameters and indices in this country to attract the right end-user markets, to attract the right end-user demand for our products because there are so many other countries that would be competing for those end-user markers and to get that end-user demand. So we will have to sit down and reformulate our entire approach over the next month or so, in fact, immediately to ensure that we are at the cutting edge of competitiveness; we have to make ourselves competitive in the market and we have to ensure we are able to garner and take those end-user markets.”
Therefore, if the poser by those who are still in doubt about her capacity is: how will Alison-Madueke fare in her new office? The answer, even though embedded in the womb of time, is certainly positive: she will excel once more.
Indeed, the bombing cast a pall on the general security outlook of the nation and imposed restraints on men of conscience who should have celebrated the refreshing development that rubbed off positively on Nigeria at the 166th meeting of the OPEC meeting in Vienna. Truth is, Mrs Alison-Madueke’s election deserved pomp, especially for being the first female oil minister of a member nation of OPEC to step in the saddle as its president.
Regardless of the situation back home, she will assume office in January 2015 to succeed former Libya’s Vice Prime Minister for Corporations, Abdourhman Atahar Al-Ahirish. Before stepping in the saddle as President, Alison-Madueke started out earlier in year as the alternate president of OPEC. Her election is very significant , coming at a time that her principal and President Goodluck Jonathan is heading for the polls on February 14, next year, to seek the renewal of his mandate by the Nigerian people. The prominent and pre-eminent position into which Alison-Madueke has launched the Federal Government and Nigeria will count a lot in the critical assessment and performance rating of the Jonathan administration.
This, perhaps, explains why the Peoples Democratic Party (PDP) did not fail to seize the moment by quickly appropriating the feat recorded by the Petroleum Minister, describing it as a confirmation of the increasing global confidence in the Federal Government under the leadership of President Goodluck Jonathan. The party, in a statement by its National Publicity Secretary, Olisa Metuh, expressed confidence that “with Mrs Allison-Madueke’s election, Nigeria is now, more than ever before, advantageously positioned to contribute to and influence major decisions in the global oil market.”
Just like the PDP, many watchers of the global oil market and Alison-Madueke’s trajectory are not, at all, surprised at the decision by the OPEC member nations to hand the task of presiding over their affairs to a prominent cabinet member in the Nigerian government, who has defined her commitment as a champion of progressive reforms in the all important oil and gas sector, which is the critical hub around which our national economy revolves.
Back home, Alison-Madueke’s stewardship in the petroleum ministry has produced landmark achievements in the oil and gas sector. The consensus in the industry is that she has demonstrated capacity and exemplary leadership at the domestic front even as she has the capabilities to provide the OPEC with sharply-focused leadership.
Her impressive development agenda in the critical oil and gas sector of the national economy has put the sector on the path of irreversible progress. Consider some of the achievements: the Petroleum industry under her watch, as of March, this year, ensured annual average crude oil production of approximately 2.3 mbopd crude oil and increased gas production from 6.3 to 8.1 bcf/d by year-end 2013, despite incessant pipeline vandalism and crude oil theft.
The administration commissioned the Usan Floating Production, Storage and Offloading (FPSO) vessel with a processing capacity of 180,000bbls/day operated by Mobil. The Usan field, as of March this year, was producing 103,000 barrels a day. It is on record that the participation of indigenous oil and gas companies in the industry has increased, leading to the commissioning of several critical infrastructure projects by Nigerian companies including: the establishment of Ebok terminal by an indigenous company, with current daily crude oil production of 7,000 bpd and a plateau production of 50,000 bpd at full capacity; commissioning of Africa’s largest vessel, christened Akpevweoghene, an Offshore Pipe-laying/Derrick Barge, in May 2013; and commencement of the landmark Egina FPSO vessel platform integration in Nigeria
In line with the transformation programme, in terms of Gas-to-Power, Allison-Madueke’s leadership has continued frontier exploration in the Chad Basin and signed agreements for the aero-magnetic survey of other hinterland basins. It is pursuing the implementation of the Gas Master Plan even as it has completed over 450 km of critical gas backbone pipeline infrastructure, including: Itoki – Olorunshogo, Escravos – Warri – Oben, Imo River – Alaoji, and Oben – Geregegu. According to reports, the Ministry has kicked off 1,860 km of ongoing gas pipeline infrastructure comprising: Oben – Lagos, Obiafo – Obrikom – Oben (Ob3), and Calabar – Ajaokuta – Kano.
The administration has reportedly commenced Front-End Engineering Design (FEED) of the 850mcf/d Gas processing facility, to support Domestic supply of gas to power and the Ogidigben Industrial Park. In line with this, the Ministry of Petroleum had, with the assistance of the Ministry of Finance, raised US$450 million dollars in Eurobonds in support of pipeline extensions for the Calabar – Ajaokuta – Kano Pipelines Project.
Indeed, President Jonathan called on and reiterated some of the achievements in his 2015 presidential election declaration speech at the Eagle Square on November 11, this year, wherein he said that “in our determination to encourage much greater participation of Nigerians in the oil and gas industry, one of the first action I took, was the enactment of the Nigerian Oil and Gas Industry Content Development Act. As a result of this law, indigenous Nigerian participation levels in upstream and downstream activities of the oil and gas industry have increased by over 45 percent, thereby increasing employment opportunities for our youth.”
Jonathan said that the Federal Government also succeeded in eliminating the long queues that previously characterized fuel stations in the country through regular and sustained product supply, which ties with the report by the Ministry of Petroleum that it has been able to maintain unprecedented stability in the supply and distribution of petroleum products across the country.
It is also significant to note that under the watch of Alison-Madueke, the Petroleum Ministry, through the NNPC has been able to aggressively pursue the plan to emplace gas infrastructure to ensure adequate gas-to-power and gas-to-industry, with over 450km of gas pipelines already installed over the last three years and another 2000km being planned for installation over the next four years.
In her first task of bringing knowledge to bear on the developments in the sector, Alison-Madueke said in Vienna, Austria, shortly after her election, against the backdrop of the current fall in global oil price, that Nigeria was now left with no choice other than to embark on an aggressive development and domestic utilization of its gas. President Jonathan also spoke about this at the Eagle Square declaration: “in terms of gas supply, we have grown from less than 500 million cubic feet per day, four years ago, to about 1.5 billion cubic feet per day currently. Our goal is to attain 4 billion cubic feet per day over the next four years.”
These are enviable records of performance. Having now been given the onerous responsibilities to preside over the affairs of the oil cartel and define its development agenda, she is expected to, in her characteristic manner, break the glass ceiling. And speaking with journalist at the end of the Federal Excutive Council (FEC) meeting in Abuja, Alison-Madueke said as OPEC President, she would ensure that before anything else, necessary steps are taken to stabilize global oil prices.
Going by her dispositions, Nigerians should also be rest assured that their country would not bear the brunt of the fall in oil prices. Nigeria, according to her, has to be much more competitive at this time and going into the future, pointing out that “we cannot continue to do business as usual; we must ensure that we have the right enabling parameters and indices in this country to attract the right end-user markets, to attract the right end-user demand for our products because there are so many other countries that would be competing for those end-user markers and to get that end-user demand. So we will have to sit down and reformulate our entire approach over the next month or so, in fact, immediately to ensure that we are at the cutting edge of competitiveness; we have to make ourselves competitive in the market and we have to ensure we are able to garner and take those end-user markets.”
Therefore, if the poser by those who are still in doubt about her capacity is: how will Alison-Madueke fare in her new office? The answer, even though embedded in the womb of time, is certainly positive: she will excel once more.
