Yemisi Izuora Environment, Social and Governance (ESG) standards and regulatory frameworks in African countries significantly shape oil and gas investments in the continent, as they influence costs, compliance requirements, and project risk profiles. The Chief Financial Officer, Seplat Energy, Mrs. Eleanor Adaralegbe, said this during a panel session at the Africa Oil Week (AOW) Conference & Exhibitions in Cape Town, South Africa. Eleanor, whilst speaking on the theme ‘ESG Investing: What strategies make African deals attractive in 2024?’, said to ensure compliance and manage ESG-related risks effectively, companies should conduct thorough due diligence, align with international standards, engage with…
Author: Orientalnews Staff
Joseph Bakare The Kwara State Government has restated commitment to drive economic development and growth through the support to small businesses and digital businesses transformation. The State Commissioner for Business, Innovation, and Technology, Damilola Yusuf Adelodun, says the Ministry is instrumental in fostering the economic growth and development of the State. Adelodun made this known during the 2nd quarterly Inter-Ministerial Press Briefing, organized by the Ministry of Communications, at the Ministry of Finance’s conference room. The Commissioner disclosed that the Ministry has been at the forefront of promoting entrepreneurship, innovation, and technology in the state. According to her, the…
Uche Cecil Izuora Nigeria may take the option of throwing its neighbors into darkness following their huge indebtedness to the country’s electro industry. According to the Nigerian Electricity Regulatory Commission (NERC), Nigeria’s electricity industry regulator, international customers have not been able to settle $5.79 million for electricity supplied in the second quarter of 2024. The NERC in its latest quarterly report details this debt, equivalent to N9.41 billion at the official exchange rate of N1626.32/$ as of October 10. The Commission says that the non-payment could lead to a complete disconnection from the electricity grid. Nigeria exports electricity to…
Yemisi Izuora Capacity building of local contractors who play crucial role in providing services to oil and gas industry has remained a key priority of Heritage Energy Operational Services Limited (HEOSL). In sustaining this process o engagement, the HEOSL, Operators of the OML 30 assets on behalf of the Joint Venture between Nigeria National Petroleum Company, E&P Limited (NEPL) and Shoreline Natural Resources Limited (SNRL) has held a capacity building workshop for indigenous contractors in Ughelli, Delta State. Addressing the contractors, Sola Adebawo, HEOSL General Manager, Government, Joint Venture and External Relations explained that the workshop was in recognition…
Yemisi Izuora Unity Bank customer, Mr. Amadi Chinmenem Gift Chike, has emerged as the latest winner of One Million Naira in the ongoing Cash Rewards Promo by Unity Bank Plc and CashToken Rewards Africa. CashToken Rewards Africa is a Cash-Reward-as-a-Service company that rewards customers for their patronage and loyalty. Mr. Amadi, a customer from Unity Bank’s Aba Road Branch, Port Harcourt, Rivers State, won the cash prize after completing qualifying transactions on Unity Bank’s digital banking channels including Unifi, *7799#, and on his Unity Bank-issued Verve card. Through these transactions, he received CashTokens, which entered him into the weekly…
Francesca Odimgbe Lagos State Governor Mr. Babajide Sanwo-Olu has said the State Government will continue to deepen bilateral relations with other regions of the world to enhance development and foster economic growth for the benefit of all residents in the State. Sanwo-Olu spoke on Friday during a courtesy visit by the Prime Minister of Grenada, Hon. Dickon Mitchell, at the Lagos House, Marina. Mitchell was accompanied by the Chairman of Dangote Groups, Alhaji Aliko Dangote. Speaking during the courtesy visit, the Governor, who lauded the Grenada Prime Minister for his leadership skills, called for more African-Carribean…
Francesca Odimgbe Lagos State Government is leading a team of start-up and established technology and innovation companies to GITEX 2024, holding in Dubai, the United Arab Emirates. GITEX, the biggest tech show in the world, connects people with industry leaders from big tech, global governments, innovative startups, expert investors, and corporate buyers. It is a technology expo held annually at the Dubai World Trade Center in the United Arab Emirates. The event underpins the rapid technology-driven transformations, investments, and projects shaping the economies of the Middle East, Africa, and Asia. This year, the Lagos State contingent is characterized by…
Yemisi Izuora There are prospects of Africa taking prominent position in global digital economy as the continents leaders converged in Nigeria for the second annual Moonshot by TechCabal conference. At the conference they called for more strategic partnerships with the private sector to enhance Africa’s role in the global digital economy. The delegates from Nigeria, Ghana, Sierra Leone and Mauritania, made the call at a high-level pan-African Ministerial panel session held on Wednesday, 9th of September – Day 1 of the technology conference organised by TechCabal the leading ecosystem convener in Africa. Speaking at the panel session were Kashifu Inuwa Abdullah,…
Uche Cecil Izuora Among the rest countries in the world, the President, Global Entrepreneurship Network (GEN), Mr Jonathan Ortmans has observed that Nigeria has extra-ordinary potential to grow much faster as a startup nation than other developed countries of the world. Ortmans, made the observation during his recent visit to Nigeria ahead of the 2024 global entrepreneurship week celebration scheduled to hold in November 2024. Ortmans said, “Nigeria has got a lot of assets,’ adding that “It is much harder to build a healthier hyper-performing entrepreneurial ecosystem in a large economy than it is in a smaller economy. This…
Yemisi Izuora Nigeria is fast tracking execution of the Brass Fertilizer and Petrochemical Company Limited (BFPCL) project which has been estimated not only to generate job opportunities but to increase the country’s foreign exchange earnings. The project when operational according to the Permanent Secretary in the Ministry of Petroleum Resources, Amb. Nicholas Ella, would generate more than $1.5 billion annually from exports of fertilisers, petrochemicals and other gas-based products. The SPDC Joint Venture partners had on Friday, October 11, 2024, signed a Gas Sales and Purchase Agreement (GSPA) for the $3.5 billion project. The SPDC JV partners, comprising NNPC…