OIL AND GAS
The Buhari Administration has declared this decade the “Decade of Gas.”
– Ground-breaking on 614km Ajaokuta-Kaduna-Kano Gas Project.
– Successful completion of Nigeria’s first Marginal Field Bid Round in almost 20 years, expected to raise in excess of half a billion dollars, and open up a new vista of investment in oil and gas.
– Launch of National LPG Expansion Programme (including Removal of VAT from the domestic pricing of LPG)
– Financial close and signing of contract for NLNG Train 7, which will grow Nigeria’s production capacity by about 35%
– Nigeria and Morocco have in 2021 signed an agreement to develop a US$1.4 billion multipurpose industrial platform (Ammonia and Di-Ammonium Phosphate production plants) that will utilize Nigerian gas and Moroccan phosphate to produce 750,000 tons of ammonia and 1 million tons of phosphate fertilizers annually by 2025. It will be located in Ikot-Abasi, Akwa-Ibom State.
– Commissioning, in December 2020, of the new NPDC Integrated Gas Handling Facility in Edo State, the largest onshore LPG plant in the country, with a processing capacity of 100 million standard cubic feet of gas daily, producing 330 tonnes of LPG, 345 tonnes of propane and 2,600 barrels of condensate, daily.
– Establishment of a $350m Nigerian Content Intervention Fund, to finance manufacturing, contracts and assets in the oil and gas industry
– Financial Close on the following NNPC-involved projects:
= A 10,000 tonnes per day methanol plant and a 500 million standard cubic feet per day gas processing plant, in Odeama, Brass, Bayelsa State.
= The ANOH gas processing plant, with a processing capacity of 300 million standard cubic feet of gas, in Imo State. It is a Joint Venture between Seplat Petroleum Development Company and the Nigerian Gas Company, a wholly owned subsidiary of Nigerian National Petroleum Corporation (NNPC). It also has the potential to deliver 1,200MW of power when completed.
= Comprehensive Rehabilitation of the Port Harcourt Refinery (PHRC). Sign-off Ceremony of Engineering, Procurement & Construction (EPC) Contract held in April 2021, marking the commencement of site handover and full mobilization to site.
– Policy, Regulatory and Funding Support for the establishment of Modular Refineries across the Niger Delta. When the Administration took office in 2015 Nigeria had only one functioning Modular Refinery. Today there are at least six ongoing brownfield and greenfield Modular Refinery Projects across the Niger Delta. In 2020 President Buhari commissioned the first phase of the Waltersmith Modular Refinery, in Imo State.
– Launch of the Nigerian Upstream Cost Optimization Programme (NUCOP), to reduce operating expenses through process enhancement and industry collaboration.
– Anchor Borrowers Program (ABP): The Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria, launched by President Muhammadu Buhari on November 17, 2015, has made more than 300 billion Naira to more than 3.1 million smallholder farmers of 21 different commodities (including Rice, Wheat, Maize, Cotton, Cassava, Poultry, Soy Beans, Groundnut, Fish), cultivating over 3.8 million hectares of farmland.
– Presidential Fertilizer Initiative: Launched as a government-to-government partnership between the Nigerian and Moroccan Governments, in December 2016, the Presidential Fertilizer Initiative (PFI) produced ~12million 50kg bags of NPK 20:10:10 equivalent in 2020, bringing total production since inception to over 30 million 50kg bags equivalent; and number of participating blending plants increased to 44 from three at inception.
– Special-Agro Industrial Processing Zones (SAPZ) Programme: A partnership between FGN, AfDB Group, and other stakeholders including IFAD and BOI. Under the SAPZ programme, agro-processing centres will be established across the country. The agro-processing centres will be provided with basic infrastructure such as water, electricity and roads as well as facilities for skills training. Seven (7) States and the FCT selected for the pilot phase, due to commence 2021: Ogun, Oyo, Imo, Cross River, Kano, Kaduna, Kwara.
– The Green Imperative – a Nigeria-Brazil Agricultural Mechanisation Programme aimed at boosting agricultural production in Nigeria. The National Assembly has approved a loan for the financing of the program, which will involve the development of 632 privately-operated primary production (mechanisation) Service Centers and 142 Agro processing (value addition) service Centres across the 774 LGAs, and the reactivation of 6 privately owned partially-operational or moribund tractor assembly plants nationwide. It will also train 100,000 new extension workers.
SOCIAL INVESTMENT AND POVERTY ALLEVIATION
– In 2016, President Buhari launched the National Social Investment Programme, currently the largest such programme in Africa and one of the largest in the world. Currently, the National Social Register of poor and vulnerable Nigerians (NSR) has 32.6 million persons from more than 7 million poor and vulnerable households, identified across 708 local government areas, 8,723 wards and 86,610 communities across the 36 States of the country and the FCT.
– From this number, 1.6 million poor and vulnerable households (comprising more than 8 million individuals, in 45,744 communities from 5,483 Wards of 557 LGAs in 35 states and the FCT are currently benefiting from the Conditional Cash Transfer (CCT) program, which pays a bimonthly stipend of N10,000 per household.
– In January 2019, President Buhari launched Nigeria’s Micro-Pension Scheme – which allows self-employed persons and persons working in organisations with less than 3 employees to save for the provision of pension at retirement or incapacitation.
– Establishment of Survival Fund, National Youth Investment Fund, and National Special Public Works Program (774,000 beneficiaries across 774 LGAs nationwide), and the Central Bank’s Covid-19 300 billion Naira Targeted Credit Facility (TCF) – more than 150 billion Naira disbursed so far – to support millions of small businesses, households and young people, with federal grants, loans and stipends.
– The Buhari Administration’s Survival Fund has provided its grants (Payroll Support, Artisan and Transport Sector grants, and General MSME grants) to more than 800,000 beneficiaries, since the last quarter of 2020. It has also provided free business registration to more than 200,000 MSMEs across the country.
– Presidential approval for the establishment of the Nigeria Investment and Growth Fund (NIG-Fund), in 2021.
– As at the end of 2020, Development Bank of Nigeria (which commenced operations in 2017) had disbursed 324 billion Naira in loans to more than 136,000 MSMEs, through 40 Participating Financial Institutions (PFIs). (57% of the beneficiaries are women-owned MSMEs while 27% are youth-owned).
– Bank of Industry has disbursed more than 900 billion Naira in loans to over 3 million large, medium, small and micro enterprises, since 2015.
– In January 2019, President Buhari launched Nigeria’s Micro Pension Scheme – which allows self-employed persons and persons working in organisations with less than 3 employees to save for the provision of pension at retirement or incapacitation.