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2021 NAT’L PETROLEUM DAY & Public Presentation Of The Book: Laws On Oil & Gas Exploration, Production In Nig.

*A Text in Honour of Mr Austin Avuru

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On August 27, 2021 Nigeria shall join the rest of the world to mark this year’s annual National Petroleum Day which seeks to draw attention to issues in the industry and appreciate the value and impact of petroleum resources in our lives.

Lovetvnews Nigeria reports that it is a day to appreciate this valuable natural resource and the enormous amount of good it has done for humanity, the prosperity of nations and indeed playing a key part in our 21st century life.

According to the 2020 OPEC Report, Nigeria’s oil and gas sector represents about 65% of the government revenues, 10% of the country’s GDP and more than 83% of the country’s total export earnings. The total revenue flow to the Federal Government of Nigeria and other sub-national Governments in Nigeria majorly consists of revenue from crude oil sales, petroleum profit tax, royalties from crude oil and gas production as well as other incomes associated with petroleum products. The annual cumulative value thereof is presently estimated at USD 34billion. The implication of this is that the Nigerian economy is highly dependent on petroleum. The Report equally has it that Nigeria is the world’s 8th exporter of crude oil.

It is instructive to know that Nigeria even though is a leading oil-producing country has never formally marked the National Petroleum Day that is celebrated annually in other oil-producing countries such as the United States, Russia, Canada, Venezuela, Saudi Arabia, among others.

In a statement signed by Ag. Managing Director Platform Petroleum Limited, Mr. John Anim, made available to Lovetvnews Nigeria gathered that the the maiden edition of he programme is being put together not only to get Nigeria to join the league of other oil-producing nations to mark this important day but to also offer a chance for Nigerians to realize just how big of a part it plays in our lives and celebrate all the things this resource provides.

This event surely presents an opportunity for Platform Petroleum Limited to demonstrate its social responsibility and commitment to the sustainability of the oil and gas sector and further reinforce its frontline position.

This online news medium alos learnt that the auspicious day will also be used to honour one of their own, Mr Austin Avuru, the immediate past Managing Director/Chief Executive Officer of Seplat Energy Plc and to recognize his immense contributions to the development of the petroleum sector.

Similarly, a public presentation of a Book put together in his honour- a collector’s item and a resource publication that is of great interest and benefit to the industry, titled Laws on Oil & Gas Exploration and Production in Nigeria – A Text in Honour of Austin Avuru.

“To formally present this Book to the public is our Board Chairman, Chief (Barr.) Dumo Lulu-Briggs, an astute entrepreneur, a distinguished citizen and a leading political gladiator in Rivers State”.

“Another highlight of the National Petroleum Day will be a discussion on the Petroleum Industry Bill as recently passed by the National Assembly. To lead the Discussion is the Guest Speaker at the Occasion, Professor Konyinsola Ajayi, a leading senior advocate, Professor of Law and a chaplain of Emmanuel Chapel of the Methodist Church of Nigeria. He is also the Managing Partner, Olaniwun Ajayi LP, and has practiced law for about forty years”.

Mr Tunde Folawiyo, the Chairman and managing director of Yinka Folawiyo Group, an indigenous conglomerate with interests in energy, agriculture, shipping, real estate, and engineering, is billed to chair the event.

The Guest of Honour at the event is Professor Fabian Ajogwu, a Senior Advocate of Nigeria and Senior Partner at Kenna Partners. He is also a Lagos Business School Professor of Corporate Governance.

Special Guest of Honour is the House of Representatives’ Speakership aspirant and Member representing Chanchagi Federal Constituency of Niger State, Rt. Hon. Umar Mohammed Bago. He is presently the Chairman, House Committee on Co-operation and Integration in Africa.
Anim is optimistic that such an industry event will attract various stakeholders in a manner that justifiably offers a basis for an expanded conversation on PIB.

The event is scheduled to take place at The Civic centre on Ozumba Mbadiwe Avenue, Victoria Island, Lagos by 11am.

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