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Tell Us Who’s Stealing Nigeria’s Crude with Vessels, Elumelu Challenges FG

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The Founder and Chairman Heirs Energies, an upstream oil and gas company, Mr. Tony Elumelu, has said that the government and security agents in Nigeria should be able to disclose to Nigerians those who steal the country’s crude oil.

Elumelu spoke in an interview published by the Financial Times (FT) before the weekend.

Elumelu said oil theft contributed to the divestment of international oil companies in Nigeria.

“Who is behind the theft, I ask. It’s a question that has confounded many Nigerians,” he said.

“This is oil theft, we’re not talking about stealing a bottle of Coke you can put in your pocket.

“The government should know, they should tell us. Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”

In 2010, Elumelu formed Heirs Holdings, an investment company.

In 2021, the business tycoon decided to buy a 45 percent stake in oil mining lease (OML) 17.

Speaking to FT on buying an oil asset in an age of energy transition, Elumelu said the company wanted to become a Fortune 500 company and “we estimated what we needed”.

“It’s not naira, it’s huge dollars. Energy security is crucial for a country that doesn’t produce enough electricity for its roughly 200mn citizens,” he said.

Elumelu said Heirs Holdings had been looking to purchase an oilfield since 2017, adding that $2.5 billion was raised for it.

However, he said former President Muhmmadu Buhari and his chief of staff, Abba Kyari, “blocked the deal”.

Elumelu said he was told Nigeria could not allow something of such strategic importance to fall into the hands of a private operator.

This, the businessman said, defied logic, since he would have been purchasing it from a foreign company.

Elumelu said he soon discovered first-hand why international oil companies (IOCs) were partly divesting from onshore assets –after criminal gangs began stealing crude from his pipelines.

In 2022, when things got to a point where his company had to shut down production, Elumelu vented his frustration on social media, tweeting: “How can we be losing over 95% of oil production to thieves?”

On July 2, the Nigerian National Petroleum Company (NNPC) Limited declared a state of emergency on crude oil production.

Making the announcement, Mele Kyari, group chief executive officer (GCEO) of NNPC, said war has been declared on the challenges affecting Nigeria’s crude oil production.

Kyari said the national oil firm has the right tools, “knows what to fight” and what it needs “to do at the level of assets”.

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Tunde Bakare Celebrates Legacy Year, Thanks God @70, Launches New Book

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By Temidayo Adewole

November 11, 2023, marked a significant milestone in the life of Pastor Tunde Bakare, the Serving Overseer of The Citadel Global Community Church, as he celebrated his 70th birthday. The day was filled with gratitude, praise, and festivity, reflecting the pastor’s life of service, leadership, and dedication to God’s kingdom.

The celebration began with a heartfelt thanksgiving service at The Citadel Global Community Church. The sanctuary was packed with members of the congregation, dignitaries, family, and friends, all gathered to honor Pastor Bakare’s life and legacy.

As the service commenced, Lady Evangelist Yinka Alaseyori led the congregation in soul-stirring worship, setting the tone for a spirit-filled celebration.

Afterwards, the Bible reading was taken by Fisayo Bakare, one of the daughters of the Pastor Bakare.

The likes of  Former Governor of Awka Ibom Victor Ata, Former Governor of Ekiti State, Kayode Fayemi, Former governor of Ogun State, Olusegun Osoba, Mr Jimi Agbaje, Professor Ibe kachuwku and many others paid glowing tributes to the birthday boy.

A short documentary of the life of Pastor Tunde Bakare was broadcast for the guests just as relatives, close friends and more special guests Pastor including Governor of Lagos State, Mr. Babajide Sanwo-Olu, Wife of the President, Senator Oluremi Tinubu, Bishop Wale Oke, and Pastor Paul Adefarasin. They separately highlighted Pastor Bakare’s contributions to nation-building, leadership, and community development, acknowledging his unwavering commitment to serving God and humanity.

There was also prayers for the Celebrant by Pastor Oladele, Bishop Wale Oke and Rev. Dr Babajide.

There was afterwards the unveiling and launching of the Celebrant book titled “The Last But Definitely Not the Least” led by the Governor of Lagos State, Mr. Babajide Sanwo-Olu and the Governor of Ogun State,  Prince Dapo Abiodun, assisted by other dignitaries.

The vote of thanks was given by the Celebrant, Pastor Bakare, who reflected on God’s faithfulness throughout his life, sharing personal testimonies and experiences that highlighted his journey.

In his words (My father has 22 children and I am the 22nd and I’m the only one alive with 22 grandchildren).

He also said (I was trained by 3 Generals In the ministry, Pastor Kumuyi Taught me Holiness, Pastor Adeboye taught me about Faith) He emphasized the importance of gratitude, humility, and service, encouraging the congregation to remain steadfast in their faith.

After the thanksgiving service, guests proceeded to the church’s event center for a grand reception. The atmosphere was filled with joy, laughter, and warmth as friends, family, and well-wishers gathered to celebrate Pastor Bakare’s life.

The reception featured a cake cutting ceremony, gift presentations, musical performances by renowned highlife artist King Sunny Ade. and photo exhibitions showcasing Pastor Bakare’s life and ministry. Dignitaries, including politicians, business leaders, and clergy, took turns to felicitate with Pastor Bakare, praising his selfless service and leadership.

Pastor Bakare’s family members, including his children and grandchildren, presented a heartfelt tribute, expressing their gratitude for his love, guidance, and example.

In his response, Pastor Bakare thanked God, his family, and the church for their unwavering support. He reiterated his commitment to serving God’s kingdom, emphasizing that his life’s work was far from over.

As the reception drew to a close, Pastor Bakare was surrounded by loved ones, basking in the joy and appreciation of a life well-lived.

The 70th birthday celebration of Pastor Tunde Bakare will be remembered as a testament to his enduring legacy, a life marked by faith, service, and dedication to God’s kingdom.

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Quality Service Delivery: Bowen’s VC Commends Globacom’s Strides

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Globacom has received commendation from the Vice Chancellor of BOWEN University, Iwo, Osun State, Professor Jonathan Oyebamiji Babalola, for consistently delivering digital services to the university over the years.

This acclamation was made by Professor Babalola during a business meeting in his office at the University of Iwo in Osun State, when he hosted a team from Globacom’s Enterprise Business Group.

The VC conveyed how much he enjoyed working with Globacom and encouraged the company to keep up its uninterrupted services to the academic community.

In order to help the university fulfill its mission of creating better products and advance the frontiers of academic development, he also asked Globacom to support BOWEN University through a number of CSR initiatives.

Speaking at the meeting, Adeniyi Odejobi, the Enterprise Business Lead, Globacom, said that the company has been a major telecommunications service provider in Nigeria, providing telephony and digital solution services for millions of people across the country as well as enterprises, small and medium-sized businesses, large corporations, public sector organizations, and universities. It is also a digital solutions company.

According to Adeniyi, Glo has been at the forefront of revolutionary changes in Nigeria’s telecommunications sector for more than 20 years and is largely to be commended for democratizing the use of telephones and telephony services across the country over the years. “Because of Globacom, every Nigerian today can afford a telephone line”, he noted.

According to Adeniyi, Globacom also evolved a good number of innovations that have aided revolutionary developments in the Nigerian telecom sector, such as Globacom’s fully owned international submarine cable, Glo 1.

In order to advance the university, Adeniyi urged it to deepen its collaboration with Glo in order to offer digital services such as Glo LMS, Toll-Free Data, and Mobility services.

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Henrietta Ugboh Becomes Independent Non- Executive Director As Owanari Duke Retires from UBA Board

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced the appointment of Henrietta Ugboh as an Independent Non-Executive Director.

The appointment has been approved by the relevant regulatory bodies, including the Central Bank of Nigeria.

UBA’s Group Chairman, Tony Elumelu, CFR commenting on the appointment, said, “Henrietta Ugboh brings a track record of professional success, integrity and leadership, which will further strengthen the UBA Group Board, underlining once again the Group’s commitment to robust corporate governance.”

Ugboh holds a degree in Economics and Statistics from the University of Benin, an MBA from ESUT Business School, and is an alumnus of the Harvard Business School’s Executive Management Program. She has over 30 years experience in banking with Citibank and is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria and a Fellow of the Institute of Credit Administration (FICA).

Elumelu added that with her considerable experience and expertise, which includes commercial banking, credit, and risk management, the UBA Board is delighted to welcome Mrs Ugboh to the Group Board, “We look forward to her invaluable contribution to the Group, as we continue to execute our unique growth strategy across Africa and globally.”

The Board also announced the retirement of Mrs. Owanari Duke, an Independent Non-Executive Director, who joined the UBA Group Board in October 2012.

During her tenure, Mrs. Duke provided distinguished leadership, serving on Committees of the Bank including the Board Governance Committee, Board Audit, Governance, Nomination & Remuneration Committee, Board Credit Committee, Finance & General Purpose Committee and Statutory Audit Committee.

On behalf of the board, Mr. Elumelu expressed UBA’s deep appreciation to Mrs. Duke for her dedication and significant contributions to the Group, wishing her the best in her future endeavour.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than forty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and related banking services.

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