All Posts in "Day: November 22, 2021"

Lagos:NAMA’s Traffic Controller Dies On Duty 

BREAKING: NAMA's Air Traffic Controller Slumps, Dies On Duty At Lagos Airport – Independent Newspaper Nigeria
An Air Traffic Controller (ATC) of the Nigerian Airspace Management Agency (NAMA) on Monday morning slumped and died on duty post at the Murtala Muhammed International Airport (MMIA), Lagos.
The controller, identified as Inuk Effiong was said to be in his  early 40s as at the time he died on duty on Monday at 4am.
NAMA was yet to make an official statement, however a source close to the agency confirmed the story.
The source said help could not immediately come to the deceased because of vehicular restrictions to the Total Radar Coverage of Nigeria (TRACON) site.
”Before they could get a vehicle and rush him to the hospital he passed on. I wish to appeal to the authorities particularly his immediate constituency NAMA, the magnanimous Minister of Aviation and the Director General of the Nigerian Civil Aviation Authority (NCAA) to please come to the immediate aid of his young family with the hope also that he will be compensated adequately to encourage others.
“While doing all these, may I appeal that the restriction of vehicle to the TRACON site be reviewed immediately while stress test carried out on the surviving ones.”
Online Editor by — November 22, 2021 in News 0
Group Seeks Investigation Of Epe Killings

A non-profitable association, Club Seventies Epe (CSE), has implored the Lagos State Government, Nigerian Police Force, monarchs and the Nigerian Union of Teachers to investigate the killing of student and a teacher in Epe Local Government Area of Lagos.
The President, Ibrahim Sanuth,who conveyed this in a statement condemned the act said  that it has become necessary for government to urgently put a measures in place to curb the menace in the community.
Razak Bakare, a student of Michael Otedola College of Primary Education (MOCPED), Epe was shot dead on campus last Wednesday, while Ahmed Saheed, a teacher in Army Children High School Epe also in Epe area, was killed on Friday.
He  described the incident as an act of wickedness and barbaric, saying the perpetrators must not go unpunished .
He added:“I totally condemn such act and I know the management of the institution will take adequate measure to prevent a repeat of such incident”.
The president urged students to face their studies, be ambassadors of peace and agents of development and not agents of killing and destruction.
He advised  authorities to work closely with traditional rulers and other relevant stakeholders in the fight against cultism, hooliganism, hoodlums and other social vices in the area.
He also counseled the school authority to continue to engage the state, local government and security agencies towards finding a lasting solution to the frequent killings and other criminal activities especially in schools in the region.
He expressed concern that the heinous act would have great implications for the future of education in Epe region and the nation at large.
Commiserating with the families of the murdered teacher, Sanuth called for the immediate and urgent surveillance patrol team within Epe community and bring all perpetrators to book.
He advised the state government to rebuild all collapsed fence in the institution within Epe area which serves  as escape route for criminals.
He urged traditional institution to  support the community and all efforts by security agencies to fish out the killers.
Online Editor by — November 22, 2021 in News 0
We Won’t Stop  Petrol Bridging Programme -NMDPRA 

Mr. Farouk Ahmed - Eterna Plc - Eterna Plc
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA),has hinted that it will continue the implementing the petroleum bridging programme to boost availability of the product nationwide.
The Chief Executive Officer (CEO) of the Authority, Engr Farouk Ahmed,also said  that the  agency  will also offset all the bridging verified claims by all the stakeholders in the distribution of Premium Motor Spirit (PMS) in Nigeria.
Speaking in Abuja,Ahmed  promised  petroleum tanker drivers and other stakeholders of his agency’s  readiness to continue the payment of bridging rate to ensure effective distribution of products nationwide.
According to him,the Nigerian National Petroleum Company (NNPC) Limited has stopped charging in dollars for their shipping services, adding  that both the Nigerian Ports Authority (NPA) and Nigerian Maritime Administration and Safety Agency (NIMASA) are expected to also begin to charge for their services in Naira very soon as the two agencies of government have started engaging the Ministry of Transportation to get necessary approval.
The CEO  implored debtor  marketers who collected bridging levies provided for in the pricing template to remit such deductions to enable the agency pay outstanding claims.
Online Editor by — November 22, 2021 in Oil&Gas 0
 TCN Boosts Power Transmission, Commences   Rehabilitation Of Old Circuit Breakers 

The Transmission Company of Nigeria (TCN) has commenced the rehabilitation and replacement of old circuit Breakers in the nation’s transmission network.
Ndidi Mbah, General Manager,  Public Affairs, who conveyed this in a statement, explained  that the project is geared towards further improving bulk power transmission to distribution load centers nationwide.
The rehabilitation and replacement work  were officially flagged off at the 37 years old 330/132kV Ajaokuta Substation, Kogi State, and marks TCN’s determination to ensure that all circuit breakers in its network are certified healthy and performs optimally,she said.
She noted that decision to start with the circuit breakers in Ajaokuta Substation was due to the strategic role the substation plays in transmitting bulk electricity to distribution load centers of AEDC and BEDC, covering areas such as; Abuja, Lokoja, Ayangba, Okene, Okpila, and Benin among others.
She said TCN’s efforts at rehabilitating the circuit breakers despite routine maintenance undertaken by in-house engineers is to ensure that they continue to perform optimally and eliminate any incident of sudden breakdown due to age.
TCN noted that the exercise will be extended to all substations in the country whose circuit breakers are 20 years and above.
“In line with TCN’s quest to further improve the capacity of its workforce, it assigned its engineers to work directly with the contractors to ensure hands-on training and practical skills transfer.
“Proper retrofitting or replacement of the circuit breakers will ensure that they operate optimally for the next 15 to 20 years.
“Circuit Breakers protect power transformers from any abnormal conditions or fault that may occur within or from outside the network.
“They also provide power supply flexibility in the substations’ switchyard when maintenance work is ongoing, without interrupting bulk power supply to distribution load centers in the grid.
“TCN will not relent in its efforts to maintain, repair, and replace power transmission equipment, as well as install new ones to ensure a more stable and efficient transmission of bulk power to the distribution substations nationwide” reads the statement in parts.
Online Editor by — November 22, 2021 in Power 0
Solar: All On , Salpha Energy Limited Sign $1m Investment Agreement

Shell-funded impact investment company, All On,has signed  a $1m investment in Salpha Energy Nigeria to scale the company’s solar home systems distribution business, focused on bottom-of-the-pyramid customers in rural and peri-urban areas across Nigeria including the Niger Delta.
According to the deal,the investment will be used to increase Salpha’s inventory and product range, expand sales channels and customer service infrastructure, and test more flexible pricing models to sustainably manage rural customers in states across Nigeria including in the Niger Delta.
“We are very excited about this support from All On which is an indication of their growing confidence in our vision,” said Salpha Founder/CEO Sandra Chukwudozie. “This additional support will allow us to deliver on our strategy to provide products for customers across the range of their developing energy needs.”
“We are thrilled about this investment which is the continuation of a journey and would provide Salpha inventory needed to supply its expanding network of distributors and a platform to cement its competitive advantage and respond to growing market demand for Solar Home Systems,” said All On Senior Investment Associate, Goziem Okubor. “It’s also an opportunity to support young indigenous female entrepreneurs in building an exciting and fast-growing solar business.”
The company has an active distributor network of over 350 individuals, cooperatives, and traders nationwide with key partnerships with payment collection enablers such as InfiBranches, Paga, and Interswitch.
All On’s contribution will enhance a highly scalable opportunity by speedily deploying power assets to households in Nigeria and facilitate the adoption of a sustainable power service payment culture within the Niger Delta and beyond.
The deal is in addition to a $50,000 investment provided to Salpha as one of the winners  of the USADF/All On Off Grid Energy Challenge in 2020. The funds were used to pilot Pay-As-You-Go contracts for customers in the Niger Delta.
Online Editor by — November 22, 2021 in Power 0
Seplat Energy Gets Improved Fitch Rating

 Seplat Energy Plc, has been upgraded to ‘B’ from ‘B-‘ by Fitch Ratings on its Long-Term Issuer Default Rating (IDR).
Fitch also confirms Seplat Energy’s outlook to be stable’ and upgraded the company’s senior unsecured rating for USD650 million senior notes due 2026 to ‘B’ from ‘B-‘, with a Recovery Rating of ‘RR4.
The rating agency said the upgrade reflects improved financial flexibility and a strong liquidity profile following debt refinancing in 2021, which will help Seplat Energy survive for more than two years of force majeure without access to the Trans Forcados Pipeline (TFP). Amukpe-Escravos Pipeline (AEP), an alternative oil export route, has been completed and is undergoing commissioning.
The rating incorporates the small scale of Seplat Energy’s cash flows, concentration of the company’s asset base in Nigeria (B/Stable) and a historically unstable operating environment in the troubled Niger Delta, including recurring issues with the oil transportation system. The rating also reflects moderate leverage, conservative financial policies, competitive unit profitability, end-2020 2P reserve life of 27 years, and a growing domestic gas business.
 Fitch upgraded Seplat Energy’s $650m bonds to B from B-.
The upgrade reflects improved financial flexibility and a strong liquidity profile following debt refinancing in 2021.
“Because of Seplat Energy’s prudent approach to financial management, Fitch believes the company has built a very strong balance sheet. Even if the Trans Forcados Pipeline was in force majeure for an unprecedented two years, Seplat Energy has sufficient strength to survive and service its debt interest
“Fitch view is underpinned by its view of Seplat Energy’s prudent debt management, flexibility on dividends and flexibility to deploy capex. Fitch sees Seplat Energy’s gas business as having potential to enhance cash flows, particularly after ANOH comes onstream; ANOH itself is already fully funded”
Fitch commended  Seplat Energy’s ESG efforts and notes deeper communication and cooperation between local communities, the government and Seplat have significantly reduced the number of attacks on oil infrastructure.
Online Editor by — November 22, 2021 in Oil&Gas 0
Corporate Governance:Chevron’s Chief Harps  On Transparency,Accountability

Chevron Leadership — Chevron.com
Chevron Nigeria Limited has emphasized  the relevance  of transparency and accountability as part of the corporate governance for community development.
Esimaje Brikinn, General Manager, Policy, Government and Public Affairs (PGPA), said this in his address at the 2021 Annual General Meeting of the Amona Ilaje Ugbo Coastal Communities Development (AMAICOMMA),a community-based organisation established under the Offshore Memorandum of Understanding (OMoU), between the Ilaje and Ugbo Coastal Communities, the Ondo State Government and the NNPC/Chevron Nigeria Limited (CNL) Joint Venture.
He was  represented at the event The oil and gas chief, who was represented by Kayode Adeboye, communications coordinator,
“It is heartwarming to note that in keeping with the principles of transparency and accountability, the leadership of AMAICOMMA is able to hold its AGM today,” he said at the event, which took place on Friday, November 19, 2021, at Oba Osangagan Hall, Ode-Ugbo, Ilaje Local Government Area, Ondo State.
He  congratulated AMAICOMMA for achieving most of its cardinal objectives, including, community empowerment, sustainable development for the people and creation of a peaceful environment conducive for business. “We are also happy that AMAICOMMA has fostered peace and helped resolved conflicts in its communities”, Brikinn added.
In his remarks, Taiwo Pius Orisabinone, Chairman, AMAICOMMA, represented by AMAICOMMA Secretary, Hon. Leke Akingboyethanked CNL for its continued funding of the OmoU. He also thanked everyone for honoring the invitation. He went on to highlight some of the achievements of the association which included: free medical health services, for the aged, pregnant women and children, skills acquisition programme for women, on-going construction of a mother and child health center in collaboration with the Ilaje Regional Development Committee (ILRDC) plus the constructionof an ultra-modern office secretariat at Ode-Ugbo, which is at an advance stage, among others.
The Olugbo of Ugboland, Oba (Dr) Frederick Enitiolorunda Akinruntan, CON, FNIM, Okoro Ajiga 1, who was represented by Chief Omotehinse Sunday Mogohen, Baale ofAgbede community commended CNL and AMAICOMMA for their contributions to the development in his domain.
Besides, Professor Femi Ajibola, Chairman New Nigeria Foundation, an NGO, lauded CNL for its continued support of initiatives that support development in the Niger Delta, especially, the GmoU.
A highlight of the event was the presentation of the audited financial  report by Michael Adebayo of Olorunfunmi Ologun & Co. the firm responsible for auditing AMAICOMMA. The firm re-affirmed that the financial statement gave a true and fair view of the financial position of AMAICIOMMA for the years ended 31st December 2019, 31st December2020, and June 30, 2021respectively and this was supported by several community members at the venue.
The festive event featured traditional Ilaje musical interlude as well as entertainment for all present. It also attracted the presence of key stakeholders from the constituent communities as well as Government influencers. These included:  Hon. Obele Dickson, Vice Chairman, Ilaje Local Government, Mr. Mafolabunmi Wale, Director, Community Affairs, OSOPADEC, who represented the Perm Sec. OSOPADEC, Femi Abode of Chevron and other high chiefs.
Online Editor by — November 22, 2021 in Oil&Gas 0
Don’t Politicize Ownership Of Universities,Afe Babalola Warns Governors

Babalola: I have Trained over 1,000 Lawyers, Produced 23 SANsTHISDAYLIVE
Legal icon and Senior Advocate of Nigeria(SAN) Aare Afe Babalola has  cautioned  Nigerian governors  against establishing universities in their states for political reasons.
He also said many of the universities are found to be unsustainable after the governors relinquish power.
He emphasized  the  need for stringent punishment for operators of illegal universities across the country.
The founder Afe Babalola University, Ado-Ekiti(ABUAD),who spoke during 9th convocation ceremony of the private institution where 1,415 graduated,also  urged the NUC to be strict and thorough in its regulations for the establishment of Ivory towers in Nigeria, to stop the recurrent cases of creation of mushroom institutions that are destroying the system.
Some distinguished  Nigeria were bestowed honorary doctorate degrees ,among them were , the Governor of Borno State, Prof. Babagana Zulum, the Ooni of Ife, Oba Enitan Adeyeye Ogunwusi, the Ewi of Ado Ekiti, Oba Rufus Adeyemo Adejugbe and the Emir of Ilorin, Alhaji Sulu Gambari.
He urged the Economic and Financial Crime Commission(EFCC) and other regulatory bodies to swing into action  in this regard to safeguard the system”
Babalola said ” to safeguard the country’s tertiary education from imminent  collapse, the founder, Afe Babalola University, Ado Ekiti(ABUAD), Chief Afe Babalola(SAN), has advised the  Economic and Financial Crimes Commission (EFCC) and the National Universities Commission(NUC) to start prosecuting and confiscating property belonging to operators of illegal universities in the country.
“Most disappointedly, the National Assembly for sometime  now approved the establishment of one-subject university in their constituency.
“One remembers the fate of state universities established by some governors in their localities, which were not sustainable after left power. I call these universities political universities. I call on NUC who in law is authorized to approve establishment of universities to ensure that the conditions laid down in law are strictly followed.
“The NUC on its website had been publishing names of illegal universities annually. This means no action had been taken against those which were discovered the previous years.
“The damage done to education by these illegal universities is irreparable. I call on the federal government, Ministry of education, NUC, EFCC to identify these universities , their operators and teachers and take appropriate sanctions which include forfeiture of the property and inprosinment of collaborators”.
Babalola said the university has expended a sum of N620 million in the last 10 years on reward mechanism for students , academic and non academic staff, who demonstrated exemplary qualities in character, scholarship, entrepreneurship and leadership.
Online Editor by — November 22, 2021 in Education 0
TotalEnergies Investment In Oil,Gas Sector Excites NCDMB

The Nigerian Content Development and Monitoring Board (NCDMB), has expressed delight  with TotalEnergies’ commitment to sustained investment in the gas sector, with due considerations for renewable energy.
Executive Secretary of the Board, Engr. Simbi Kesiye Wabote gave the commendation at the load-out ceremony of the topsides of the Ikike Development Project at the Saipem Yard in Port Harcourt recently.
He said:“It is no surprise that within the last six months, President Muhammadu Buhari has twice given audience to the global chief executive of the company, Mr. Patrick Pouyanne, and Nigeria is keen to have strategic partners like TotalEnergies to enable us realize our targets especially in consideration of the enactment of the Petroleum Industry Act (PIA”, he added.
He described TotalEnergies as the only international operating company in Nigeria that has been taking key financial investment decisions (FIDs) on major projects in the last ten years and kept faith with Nigeria’s oil and gas industry.
He reiterated the Board’s confidence in Total to keep its project funnel active through a robust portfolio of projects required to sustain utilization of established capacities and grow Nigerian Content as well as working collaboratively to earmark high local content commitments and targets. “As this Topsides sail to location for further work scope completions, you can be assured that NCDMB has also set out local content targets that must be met to sustain the job creation drive of the Federal Government”, he stated.
The Executive Secretary confirmed that the signed Nigerian Content Compliance Certificate provided that the hook-up engineering and tie-in services, inspections and integrity works, pre-commissioning and commissioning, and marine services would be executed with over 95 percent Nigerian personnel with locally owned equipment and assets.
He commended Saipem Contracting Nigeria Limited (SCNL) and its sub-contractors for delivering the scope on schedule regardless of challenges brought about by the COVID-19 pandemic.
 He also commended the technical and non-technical staff that worked on the project and ensured its delivery within a fabrication yard in-country.
He added: “Our mandate is to ensure that this is the case across all the various projects including NLNG Train-7”, the Nigerian Content chieftain mentioned. He reassured industry stakeholders that the Board shall continue to remain its foremost partner in the development and industrialization of Nigeria.
Speaking, the Managing Director and Chief Executive Officer of TotalEnergies Nigeria, Mr. Mike Sangster declared that the Ikike Field Development Project is a further commitment of TotalEnergies to Nigeria and the growth of the oil and gas sector, after the Egina Project.
According to him,apart from meeting the incremental 32,000 barrels per day, the project also aims to capitalize on lessons learnt from previous projects such as the OFON2, OML 58 Upgrade to assure a development with strategic fit for context, maximize local content at sustainable cost, simplified design, economic, and consistent progress towards first oil.
He maintained  that Ikike is a testament of cooperation and teamwork of all parties, and regulators namely Nigerian Upstream Petroleum Regulatory Commission, National Petroleum Investment Services and NCDMB. He added that the project has contributed immensely to the Nigerian Content development initiatives of the company through the construction of jacket modules, topsides, and risers in Nigerian yards, offshore campaign with vessels domiciled in Nigeria, and drilling with Nigerian companies which boosted local employment with about 3,000 direct and indirect jobs hence increasing local capacity and technical skills acquisition.
In his remarks,the Managing Director of SCNL, Mr. Walter Peviani, thanked TotalEnergies for entrusting the project in their capacity to deliver on time without Lost Time Injury (LTI) or incident amidst industry challenges and uncertainties including COVID-19.
He said that the topsides fabricated by Sapiem in collaboration with local companies and other sub-contractors was an in-country platform designed to be fully unmanned and remotely operated, heralding the extension of innovation and technology towards the new normal in the Nigerian oil and gas industry, having remarkable opportunities in technology transfer.
Online Editor by — November 22, 2021 in Oil&Gas 0
Productivity In Nigeria’s Non-Oil Sector Still Low-Muda Yussuf

Manufacturers Under Pressure As Naira Falls To N570/$
The Chief Executive Officer(CEO) of Centre for The Promotion of Private Enterprise (CPPE),Dr.Muda Yussuf,has lamented low productivity of the nation’s non-oil sector.
Yussuf,in a statement,said the dwindling productivity in the non-oil sector reflects in the fact that the oil sector still accounts for over 50% of revenue and over 90% of the nation’s foreign exchange earnings.
His position is at variance with Vice President’s Yemi Osibanjo’s view,who said recently that the non-oil sector was adding value to the nation’s Gross Domestic Product.
Yussuf emphasized the need to scale up
productivity in the non-oil sector of the economy in order to enhance its contributions both to revenue and foreign exchange earnings.
He explained that the measure would  make the economy more sustainable and stable.
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He also  advocated the necessity  to de-risk investment in the real sector of the economy to reduce the dominance of the service sector in the economy.
He added:”We cannot afford an economy that is very weak in production and the associated competitiveness challenges.This is the sustainable pathway to promote the self-reliance and backward integration agenda.
“There should be deliberate policy to plug into the global value chain rather than be consumed in building a wall around the domestic economy. There is need for periodic impact analysis of policy measures and intervention programmes to ensure the delivery of desired outcomes”
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He added that  there should be regular engagement with stakeholders across sectors to get feedback from investors and stakeholders in order to gather empirical evidence to enhance the quality of fiscal and monetary policies.
He said  service sector continues to dominate the contribution to GDP with a 49.65% contribution in the third quarter of the year.
 This,he said,  is an indication that productivity is much higher in the service sector compared to other sectors like manufacturing and agriculture as well as flexibility therein.
· Challenges of infrastructure, especially roads, railway and power are much less in the services sector. Infrastructure demands are not as high as what you have in the real sector,he said.
  According to him,investment risk in the service sector is for most part lower than in the real sector and gestation period for investment is shorter in the service sector than in the real sector.
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He said the oil refining sector recorded the biggest sectoral contraction in the third quarter of 2021by 47.83% on account of public sector ownership of refineries and the associated burden of bureaucracy, political interference, poor management and transparency issues.
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He said  Petroleum subsidy regime which practically blocked private investment in the sector,causing investment growth was stunted.
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He also said the crude,petroleum and gas  sector contracted by 10.73% in the third quarter due to disruption in the production arising from insecurity in the Niger-Delta,crude oil theft and vandalization of oil production facilities,policy uncertainty and policy transitioning which affected the confidence of investors,difficult regulatory environment which are not investment friendly and weak investment sentiment on the back of the global decarbonisation programmes and energy transition initiative.
He added:” Attracting investment into the sector is becoming more challenging as a result of the global groundswell of decarbonization and energy transition programmes.OPEC quota which has been low for most part of the year”
Online Editor by — November 22, 2021 in News 0