NNPC Says ANOH Gas Projects to Produce 600MSCFD Equivalent of 2.4GW of Electricity

Mele Kyari. MD, NNPC
Mele Kyari. MD, NNPC
As part of concerted efforts to ramp up gas-to-industries and gas-to-power in the country, the Nigerian National Petroleum Corporation (NNPC) has revealed that the Asa North-Ohaji South (ANOH) gas project, one of the largest green field gas condensate development projects ever undertaken in Nigeria, was expected to produce 600million standard cubic feet of gas per day, an equivalent of approximately 2.4gigawatts of electricity for the country.
Group Managing Director of the NNPC, Mallam Mele Kyari, made this known while delivering a goodwill message at the 2020 South East Gas Utilization Forum in Owerri, Imo State.
In a press statement by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, Mallam Kyari was said to have commended the imminent completion of the landmark Obiafu-Obrikom-Oben “OB3” gas pipeline project which would help commercialize over 2billion cubic feet of gas per day and generate billions in revenue as well as create thousands of employment opportunities for Nigerians.
Mallam Kyari, who was represented at the occasion by the Corporation’s Chief Operating Officer, Gas and Power, Engr. Yusuf Usman, said “NNPC as an enabler organization has since realized the obvious economic importance of gas and has consistently made concerted efforts towards delivering the right infrastructure and commercial structures, in a bid to deliver value to customers and all stakeholders,”.
He stated that the laudable initiative of the Gas Aggregation Company of Nigeria (GACN) aimed at facilitating the optimal use of natural gas to drive industrial and economic growth aligns completely with President Muhammadu Buhari’s aspirations of prioritizing gas development for economic growth, power generation and the eventual industrialization of Nigeria.
In his keynote address, the Minister of State for Petroleum Resources, Chief Timipre Sylva, stated that the best way to diversify Nigeria’s economy would be by driving the development and utilization of the nation’s abundant gas resources, describing the South East as a region where an industrial miracle was about to happen.

N 2 billion Fraud: FG Arraigns Promoters Of Dantata Success

DG, SEC, Lamido Yuguda
DG, SEC, Lamido Yuguda
The Federal Government has arraigned Dantata Success and Profitable Company and their promoters before the Federal High Court in Abuja for investment fraud amounting to over N2billion.

Those charged along with the company are Basira Ibrahim Dantata, Lawan Sanni and Gaji Ibrahim Dantata.

The defendants who were arraigned before Justice A. I Chikere of Federal High Court 3, were alleged to have between 2018 and 2019 within the jurisdiction of the court with intent to defraud about 7,250 investing public to subscribe and invest in an unregistered investment scheme amounting to over N2 billion.

According to the charge, they committed an offence contrary to Section 54 of the Investments and Securities Act 2007 and punishable under same section.

When the matter came up in court, one of the defendants Gaji Ibrahim Dantata was not available due to health reasons.

Justice Chikere thereby adjourned the matter to November 5, 2020 for plea and motion filed by the defendants.

Recall that the Securities and Exchange Commission pursuant to its powers under Section 13 (w) of the Investments and Securities Act (ISA), 2007, on 6 February 2019 sealed up the business premises of Dantata Success & Profitable Company (DSPC), a company that had been engaging in illegal activities in the Nigerian capital market. In addition, the Commission obtained court orders to freeze the bank accounts of the company to preserve the funds of investors in line with Section 13 (x) of the ISA 2007.

The company was not registered or authorized by the Commission to engage in any activity in the capital markets, however it targeted and reached Nigerian investors through radio programs in the Kano area of Nigeria and collected large sums of money from investors under the guise of a “structured investment”. The activities of the company contravene the provisions of Section 38(1) and 67(1) of the Investments and Securities Act which respectively, prohibit unregistered and unauthorized entities/persons from operating any investment business or making any invitation to the public to acquire or dispose of any securities of a body corporate or to deposit money with anybody corporate for a fixed period or payable at call.

The Commission also issued a warning to the public that Dantata Success & Profitable Company and any individuals representing them are not registered and therefore not entitled to provide investment advisory or services in Nigeria.

The Commission further warned the public to exercise utmost caution before deciding to subscribe to investment schemes and to always confirm the registration status of any company or individual and the products they are offering before entering into any transaction with them. Information about entities registered by the Commission to provide investment services can be found in the following link http://sec.gov.ng/cmos/.

Nigeria Advocates Protection Of The Planet As It Celebrates World Standards Day 2020

SON DG, Farouk Salim
SON DG, Farouk Salim
Experts in international standardization around the world have advocated substantial reduction in human impact and protection of the planet, seeking political will, concrete action and the right tools among which are international standards.

This advocacy is predicated on the human and large scale industrial activities which modern civilization have added to earth’s natural greenhouse gases which negatively impact our climate and with it, all forms of life. 

According to a statement from the office of the Director General, Standards Organisation of Nigeria (SON), Mallam Farouk Salim, the focus of the 2020 celebration of the World Standards Day being coordinated by the International Electrotechnical Commission (IEC), International Organization for Standardization (ISO) and the International Telecommunications Union (ITU) is “Protecting the Planet with Standards”.
Salim posited that rapid population growth and broad urbanization call for the responsible use of limited resources.

International Standards prepared by IEC, ISO and ITU take into account tried and true solutions to technical challenges as well as help share expertise and expert know-how broadly, within developed and developing countries alike, he said.

He stated that Standards cover all aspects of energy savings, water and air quality, while laying down standardized protocols and methods of measurement. Their broad use helps reduce the environmental impact of industrial production and processes, facilitates the reuse of limited resources and improves energy efficiency. Salim saod.

The SON helmsman affirmed that his Organisation as a representative of the international standardization bodies in Nigeria would continue to propagate the global standards through adoption and modification for local use, manpower training through seminars, workshops, consumer enlightenment activities and certification of products, processes and systems using international standards.

Salim called on all Nigerians to join the quality vanguard and continue to support SON in its quest to improve the lives of Nigerians through standards and quality assurance activities as well as protecting the environment for sustainability.

These according to him can be achieved through reduction in throwaway, reuse and recycle, and landfill of spaces as well as spreading information on the importance and value of our natural resources.

Other conservation ideas proposed by the SON Chief Executive include volunteering for clean ups in communities, more efficient use of water to avoid waste, use of energy efficient appliances, planting of trees to provide food and oxygen as well as use of non-toxic chemicals at homes and in offices.

FG to Distribute Six Million Prepaid  Meters

Festus Keyamo
Festus Keyamo
The Federal Government has agreed to provide tariff relief of N10.20 per kilowatt-hour for Nigerians and distribute six million meters in the next three months.

A total of six million metres are to be distributed to Nigerians in the next three months by the federal government

This decision formed part of the agreement reached with organized labour on Sunday evening following the negotiations arising from the two-week suspension by labour of the nationwide strike in protest against the recent removal of petroleum subsidy and electricity price increase.

Minister of State for Labour and Employment, Festus Keyamo, in a communiqué issued St the end of the meeting, said the participants agreed to resolve issues affecting the sector in the medium term, and provide immediate succour to customers.

The immediate palliatives the statement noted would not exceed December 31,2020 adding that “Following extensive analysis, it was realised that VAT proceeds from the Nigeria Electricity Supply Industry (NESI) could be used to secure varying levels of relief in customer tariffs across bands A, B and C, ensuring that all customers receive some forms of relief during this difficult time.

Cumulatively, the per kWh relief that will be provided to customers in bands A, B and C is N10.20 per kilowatt-hour (kWh), which will be distributed across the bands. The relief will be in place for the two to three months period required for the Technical Committee to conclude its extended scope of work. It should be noted that bands D and E tariffs were not changed, and this freeze will remain in place.”

It was also disclosed that the National Mass Metering Programme (NMMP) would be accelerated

He said: “This programme will distribute six million meters to Nigerians free of charge. Having secured Central Bank of Nigeria (CBN) funding for this programme, the meters will be immediately distributed to consumers using stockpiles in-country and local assemblers. The cost of meters shall be recovered from the DisCos.

“The six million meters to be procured for the NMMP will only be through local manufacturers and assemblers. This will create jobs, and a new meter manufacturing sub-sector in the country.”

The meeting equally resolved that there woulbe proper pay security for electricity workers.

MAN Wants Uniform Electricity Tariff Across All States Of The Federation

    

Manufacturer-Association-Nigeria-MAN
Manufacturer-Association-Nigeria-MAN
The widening gap in the prices of products across the country can be mitigated by the imposition of uniform Electricity Tariff across all states of the federation.

This is the position of the Manufacturers Association of Nigeria, MAN, in a recent press statement

Expressing great concern over this situation, the Association said discriminatory electricity tariff imposed across different states in Nigeria, by the Electricity Distribution Companies (DISCOS), does not make for competitiveness.

To this end,, MAN is asking the Federal Government to weigh in on the situation and make the DISCOS apply uniform tariff to facilitate manufacturing activities across the country.

President of MAN, Mansur Ahmed, said disparity in electricity tariff has been observed to favour some regions of the country over others.

He said “Most worrisome is the fact that manufacturers who are made to pay higher tariffs, which in some instances the difference are as high as 25%, making it impossible to ensure fair competition amongst manufacturers who sell their products in the same market and cannot afford effects of wider gap in the prices of products.”

According to the statement, “The resultant effect of this tariff differential is that manufacturers under the DISCOS with higher tariff rate sell at a loss in order to sustain the market share and if action is not taken urgently, the affected manufacturers may be forced to close down with looming adverse effect on employment and the economy.”

The manufacturers are demanding uniformity in tariff or Government intervention with the establishment of an equalization fund as provided in the petroleum sector to support the DISCOS in a situation where the disparity has to be maintained due to low commercial activities.

“The inadequacy of electricity supply has been one of the major challenges hindering the competitiveness of manufacturing sector in the country as manufacturers spent over 40% of the production overhead on electricity leading to increase in cost of operation and prices of made in Nigeria goods when compared with prices of similar products from other countries.” The statement read.

Ahmed applauded the federal government for policies aimed at sustaining economic growth and the development of the manufacturing sector in Nigeria particularly the on-going efforts at improving the quality of reliable and sustainable electricity supply in the country.

“It is therefore worthy to note that improvement in electricity supply in terms of quantity, quality, efficiency in service delivery and pricing is critical to the competitiveness, growth and development of the sector, this we believe is a recipe for sustaining the employment of over 65 million direct and indirect workers in the manufacturing sector.” Ahmed x

Apapa Gridlock: MWUN Warns It Would Down Tools In 21-Days.

Comrade-Adewale-Adeyanju President MWUN
Comrade-Adewale-Adeyanju, President, MWUN
The Maritime Workers Union of Nigeria has blamed the current gridlock on the Ports access roads, especially the Oshodi-Apapa Expressway on the activities of  four shipping companies.

The Union which insisted that four shopping companies are majorly responsible for the gridlock said the action of the companies had severally led to negative economic consequences at the Tin-Can and Apapa Ports.

The MWUN specifically accused the companies of deliberately keeping their trucks and their containers as means of attracting demurrage payment daily from their already overburdened members, truck owners and their drivers.

According to a statement issued Sunday, by the President-General of MWUN, Adewale Adeyanju, a 21-day ultimatum has been issued to the Federal and Lagos State governments within which to call these companies to order.

According to him, the government should compel them to stop using their private businesses to cause public nuisance.

The union threatened to embark on industrial action to protect its members, should the government fail to address their demands.

Adeyanju said, “These shipping companies deliberately keep the trucks and their laden containers as means of attracting demurrage payment daily from our already overburdened members, truck owners and their drivers.”

Union Bank Secures $40m IFC Facility To Boost Trade

Union-Bank
Union-Bank
The International Finance Corporation, IFC, has advanced a $40 million Finance Guarantee Facility to Union Bank Plc to to boost access to finance for local businesses.

The Bank in a statement on Friday disclosed that the facility was approved under the IFC’s global trade finance program (GTFP) and would ensure increased international trade for Nigeria and help protect the country’s economy from the impact of the COVID-19 pandemic.

According to the Lender the facility will assist in establishing working partnerships with nearly 300 major international banks within the GTFP network, thereby broadening access to finance and reducing cash collateral requirements for Nigerian businesses.

The Financial institution also explained that the facility will enable the continued flow of trade credit into the Nigerian market at a time when imports are critical, and the country’s exports can generate the much needed foreign exchange.

The Chief Executive Officer, Union Bank, Emeka Emuwa said; “Union Bank is pleased to join the IFC’s global trade finance program (GTFP). This is a significant achievement as we continue to expand our trade financing offerings to our corporate customers”.

“Even in these peculiar times, we remain focused on contributing to economic growth by developing tailored solutions that help our customers to harness the teeming opportunities that still exist in the Nigerian market.”

IFC’s Country Manager for Nigeria,  Eme Essien Lore said; “Keeping trade moving is essential to growth and job creation, especially during the challenging economic times we are living through today.

“We welcome Union Bank to IFC’s global trade finance program and value a partnership that will make a positive impact on Nigeria’s economy”.

IFC noted that the partnership reflects its growing commitment to Nigeria, with investments focused on sectors including healthcare, agribusiness, manufacturing, technology, and small and medium enterprises (SME) financing.

DPR Sets New Rules For Gas-Dispensing Companies

DPR
DPR
The Department of Petroleum Resources (DPR) has declared that any company that wants to set up gas-dispensing facilities will henceforth get three approvals and licenses, and scale other regulatory hurdles before obtaining the go-ahead to begin operations.

According to DPR, “Companies intending to establish these facilities must satisfy all necessary requirements stipulated by DPR and obtain the underlisted applicable approvals: Site suitability approval; Approval to Construct (ATC)/Approval to Install; and Licence to Operate.

A statement by the DPR head, Sarki Awalu notes that “Necessary amenities and equipment’s like functional automated/manual leak tester, functional fire alarm system, and mounted gas detectors, adequate fire water storage and sprinklers, perimeter fence with fire wall amongst others must be provided in the facilities.”

The policy shift is coming days after a gas explosion at Baruwa, Ipaja, Lagos resultedin the death of a number of locals and spurred collateral damages that affected over 20 buildings.

While taking stock of the accident, the DPR observed the facility was unlicensed and had been running illegitimately, Mr Auwalu said, citing this as the ground for the inferno.

The new operational framework entails preconditions and terms for running Liquefied Petroleum Gas refilling plants and retail outlets, and for setting up autogas refuelling stations, add-on gas facilities as well as gas storage and utilisation.

The DPR head disclosed that the policies aim at deepening gas penetration and utilisation as well ad firming up operational safety and the ease of doing business in the energy industry.

UBA Innovates, Upgrades And Optimizes Technology For Better Customer Satisfaction

UBA
UBA
Pan African financial institution, United Bank for Africa (UBA) Plc, has said that its recent efforts at transformation of its processes is geared towards ensuring that customers’ expectations are not just met but surpassed while enjoying seamless and world-class banking services. 

To this end, the bank has embarked on several initiatives that include streamlining and automating its processes, upgrading technology, training, and rewarding staff excellence all towards ensuring that customers enjoy the very best of services.

UBA’s Head of Operations, Alex Alozie, who explained this during a virtual media parley recently to mark the 2020 Customer Service Week, said the bank has intensified its focus on putting the customer first whilst still reaffirming its leadership position.

Alozie maintained that in line with this year’s theme, the ‘Dream Team’, which embodies UBA’s core goals, the bank has recorded considerable milestones in its journey.   

He said, “In the last one year we have embarked on an intensive drive to transform our services across all service touch-points including but not limited to banking halls, channels – internet, mobile, USSD, etc in Nigeria, Africa, and territories where we operate. We have ensured that our customers enjoy self-service, where they can carry out their transactions seamlessly on their devices, without visiting the banking hall. This has further boosted customers’ confidence as the services provide ease and convenience, especially during the Covid-19 pandemic.

“Honestly,  I will say that the pandemic brought out the best of us. With newly improved products like UBA Connect – where our customers can carry out transactions from anywhere in the world – and our recently improved Mobile App, our uptime has improved significantly, and our branch operations have also recorded considerable improvement. All these are the outcome of the transformation journey which we embarked upon,” Alozie noted.

He added that there have been cases of failed transactions, and the bank has taken relevant corrective and preventive actions for service improvement. 

UBA’s Group Head, Marketing and Customer Experience, Michelle Nwoga, pointed out that the bank is focused on being more intentional in the quality of service delivery to customers.

She added that strategic initiatives have been implemented to deliver a differentiated experience to customers across all service touchpoints. 

According to her, UBA is keen on meeting the demands of today’s diversified customer base by focusing on innovation, process re-engineering, experience optimization, and technology upgrade, etc. This is all in our effort to improve our service delivery, improve our customers’ satisfaction, and deepen our market share.  

“Apart from this, we have also embarked on thoroughly equipping our people to deliver exceptional service, while also leveraging on data for insight to guide business decision making. We are no longer a one-size-fits-all organization, as we now personalize services based on individual specific demands; this is largely because we know that the customer is the only one that matters, and we tailor all our activities in line with their expectations,” Nwoga noted.

The Customer Service Week is celebrated annually all over the world and recognizes the importance of customer service and seeks to show appreciation to the staff who serve and support customers with the highest degree of care and professionalism.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch-points, in 20 African countries. 

With a presence in the United States of America, the United Kingdom, and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance, and ancillary banking services.

NIMASA: Korea, Belgium Pledge More Support Towards Improving Maritime Security And Trade

L-R: Director, Embassy of Belgium, Stef Commers; DG, NIMASA, Dr. Bashir Jamoh; Ambassador Designate of Belgium, His Excellency, Daniel Bertrand; and ED, Operations, NIMASA, Shehu Ahmed, during a courtesy call  by the Ambassador at the Agency’s headquarters in Lagos, recently
L-R: Director, Embassy of Belgium, Stef Commers; DG, NIMASA, Dr. Bashir Jamoh; Ambassador Designate of Belgium, His Excellency, Daniel Bertrand; and ED, Operations, NIMASA, Shehu Ahmed, during a courtesy call by the Ambassador at the Agency’s headquarters in Lagos, recently
The Nigerian Maritime Administration and Safety Agency , NIMASA is getting more support in its drive to enhance trade and security in the Nigerian maritime domain.  

The latest being from South Korea and Belgium whose Consul-General and Ambassador Designate paid courtesy calls on the NIMASA top Management in Lagos.

The new Consul-General of the Korean Embassy, His Excellency, Kang Haenggu, and Ambassador Designate of Belgium, His Excellency, Daniel Bertrand, made the promise when they visited the Director-General of NIMASA, Dr. Bashir Jamoh, at the Agency’s headquarters in Lagos.

Dr. Jamoh expressed NIMASA’s determination to curb criminal attacks in Nigerian waters and the Gulf of Guinea.

The envoys acknowledged the security challenge in the Gulf of Guinea and promised to support Nigeria’s efforts to improve security in its waters.

Addressing the South Korean and Belgian delegations at separate meetings, Dr. Jamoh said the Nigerian government placed high premium on safety and security of shipping in its waters and the Gulf of Guinea, and had invested heavily in maritime security infrastructure.

To confront the menace of maritime criminality head-on, Dr. Jamoh said, “Nigeria has made huge investments in the establishment of a comprehensive maritime security infrastructure. The Integrated National Security and Waterways Protection Infrastructure, also called the Deep Blue Project, is designed to secure our waters, up to the Gulf of Guinea.

“The project is nearing completion, with more than 80 per cent of the assets, comprising Special Mission Vessels, Fast Intervention Boats, Unmanned Aerial Vehicles, and Armoured Vehicles, already in the country.  

“The information and intelligence hub of the Deep Blue Project, the Command, Control, Communication, Computer, and Intelligence Centre (C4i), was commissioned in August last year.  The Centre is up and running with round-the-clock production of needed maritime domain awareness. The C4i has helped to identify and monitor activities in the black spots, leading to arrests of many suspects in recent times.”

Dr. Jamoh, a graduate of the Korea Maritime and Ocean University, said the training of personnel for the Deep Blue Project had commenced and would be concluded this month, ahead of the deployment of the assets by December.    

The Director-General also said investigation had revealed that Somali pirates were now active in Nigerian waters and the Gulf of Guinea. He said the pirates often navigated through Nigeria’s maritime boundaries, and sometimes came through the land borders. He stated that the Maritime Intelligence Unit, recently established by NIMASA to help nip maritime crimes in the bud through identification of early warning signs, had revealed a relationship between crimes in the Nigerian maritime domain and the Somali pirates.

“We discovered a correlation between crimes in our waters and the activities of the Somali pirates,” he stated, adding, “They have a means of navigating from the coast of Somalia to Nigeria, through the waters of our West African neighbours. In some cases, they enter through the land borders and commission boats to carry out their activities.” 

He said Nigeria had developed an action plan to monitor the progress of its National Maritime Security Strategy, saying, “Our goal is to achieve a sustainable end to criminal attacks in our territorial waters.”

Jamoh called for South Korean and Belgian investments in the Nigerian maritime industry, particularly in the areas of wreck removal and shipbuilding, as well as assistance in the training and certification of Nigerian seafarers.

Haenggu and Bertrand, in their separate submissions, pledged their determination to improve ties between their respective countries and Nigeria in shipping development and maritime security. Haenggu hailed the “strong working relationship” between the Korean Embassy and NIMASA, saying he looks forward to continuing it. And Bertrand said his priority was to promote commerce between his country and Nigeria.