Although occupier Russia is threatened by sanctions, there is speculation as to how much Africa needs to become an oil and gas supplier. The continent is already positioning itself. Somalia is considered a dangerous place and a failed state: it has been shaped by tribal wars, drought and the terrorism of al-Shabaab, an Islamic militant group. Nevertheless, an unstable government is trying to return to normalcy and want to lure companies to the horn of Africa – recently re-creating fossil resources. Oil Minister Abdirashid Mohammad Ahmed says there are high oil and gas reserves in the Okadan Basin and…
Author: Orientalnews Staff
Richard Ginika Izuora Impact investment platform Charm Impact is entering into a partnership deal with Netherlands Enterprise Agency (RVO) to expand into the clean cooking sector across sub-Saharan Africa. It is estimated that about 3 billion people are still cooking with highly polluting solid fuels around the world. This causes an estimated 4 million premature deaths annually. The partnership will provide operational capital to allow Charm Impact to expand its investment portfolio into a sector that is struggling to scale up. The activity is financed by the European Union and The Netherlands as an associated project under the Energising Development…
Joseph Bakare The Federal Government has disclosed plans to finish up work at the Brass Liquefied Natural Gas, BLNG. Investors in the project include the Nigeria National Petroleum Company Limited (NNPC), Eni and Total. Minister of State Petroleum Resources, Mr Timipre Sylva, who dropped this hint said Government is presently looking for investors to complete the abandoned BLNG which it started about 17 years ago. Speaking during an inspection of the project site, in Twon Brass, Bayelsa State, at the weekend, with management of Greenville NLG, an interested investor in the BLNG, Sylva said the government was desirous of…
Impact investment platform Charm Impact will partner with Netherlands Enterprise Agency (RVO) to expand into the clean cooking sector across sub-Saharan Africa. The partnership will provide operational capital to allow Charm Impact to expand its investment portfolio into a sector that is struggling to scale up. The activity is financed by the European Union and The Netherlands as an associated project under the Energising Development partnership. This new partnership will serve as an 18 months pilot. Positive results could lead to a scaled up programme over the next five years. Marnix van Holland, programme manager for RVO’s Clean Cooking Finance…
Yemisi Izuora Fresh funds which is calculated to be around $410Bn would need to be sought for by the Federal Government to strengthen the nations transmission and distribution infrastructure says Vice Presiden Yemi Osinbajo. This he said at a virtual event on climate finance themed, Climate Finance and a Just, Equitable Energy Transition for Africa. Nigeria needs to upgrade its power infrastructure, especially for transmission and distribution, using a strategic mix of grid and minigrid systems. The nation needs an additional $410 billion above business-as-usual investment to meet these goals. According to him the federal government’s immediate priority is to…
Yemisi Izuora Italian energy group Eni said on Friday it had lifted a force majeure on gas exports from Nigeria’s Okaka in Bayelsa state after repairing a vandalised pipeline. Eni declared force majeure on April 6 after the Ogboinbiri to Obiafu/Obrikom gas line operated by local unit Nigerian Agip Oil Company was damaged by a hacksaw cut, resulting in the loss of 5 million standard cubic metres per day. A spokesman for Eni said in a statement that operations had been fully restored this week. Disruptions to oil and gas production are common in the oil-rich Niger Delta region, where…
Yemisi Izuora The Federal Government has commence “Operation Free The Ports Corridor” to ensure easy movement in and out of the seaports in the country. Permanent Secretary, Ministry of Transportation, Mrs. Magdalene Ajani, while officially flagging of the initiative by the Nigerian Shippers’ Council (NSC), in Lagos, said the efforts of stakeholders on the Apapa roads are gradually yeilding positive results. She said the aim of the initiative is to achieve Ease of Doing Business in Nigerian ports, urging the members of the team to follow the standard operating procedures (SOP) “The greatest thing that can happen to Nigeria and…
Yemisi Izuora African Financial Technology Company, Kudi, has changed its name to Nomba as it transitions into an omni-channel payment platform providing tools to enable businesses grow. The company has expanded its range of services to provide easy-to-use business tools for all kinds of businesses to accept, process and manage payments online and offline. These tools will offer more businesses of all sizes across Africa, a distinct gateway into the digital economy, while enabling them optimise their operations. This solution could not have come at a more opportune time. From neighborhood kiosks to high-brow restaurants and fashion stores, the small…
Yemisi Izuora FMDQ has approved the quotation of the Prima Corporation Limited ₦7.02 billion Series 2 Commercial Paper (CP) under its ₦30.00 billion CP Programme on its platform. Prima Corporation Limited is a leading manufacturer of preforms and caps in West Africa, supplying a host of international and local brands. The timely admission of this CP, and in general, all securities on FMDQ Exchange, are reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market. This CP which is sponsored by United Capital PLC…
Yemisi Izuora AIICO Insurance has demonstrated resilient in its operations despite harsh operating environment. The firm considers a variety of metrics when assessing the quality of its services, for a lot of its customers, especially retirees, paying claims and benefits when they are due is often the key determinant of the quality of their experience. Timely claims settlement hallmarks AIICO’s obsession with customer satisfaction and a key driver for its customer retention. The company currently serves a variety of customer groups, from individuals and small-scale entrepreneurs to the largest businesses in the country, with each segment having its own peculiar…