>> >> L-R(31) >> Society >> of Petroleum Engineers(SPE) Nigeria Council Chairman, >> Chikezie Nwosu warmly received by the Newcross Petroleum >> Limited Ag. Managing Director, Mr. Victor Sodje during the >> leadership of SPE Nigeria Council courtesy visit to Newcross >> Petroleumn Ltd headquarters in Lagos >> recently. >> >> L-R(29)Society >> of Petroleum (SPE) Nigeria Council BOT Member, Kofi >> Sagoe; Drilling Engineers at Newcross Petroleum, >> Tinuade Oladipo; Chairman, SPE Nigeria Council Chikezie >> Nwosu; Ag. Managing Director,Newcross Petroleum Ltd Victor >> Sodje; SPE Nigeria BOT Member,Seyi Afolabi; and SPE E& P >> Director,Olatunji Akinwunmi during the …
Author: Orientalnews Staff
Yemisi Izuora The Nigerian National Petroleum Corporation (NNPC) has so far completed, commissioned and delivered 500km of gas pipelines between 2010 to date as part of an aggressive expansion of gas pipeline infrastructure across the country. Group Managing Director of the NNPC, Dr. Maikanti Baru, stated this in Abuja at the 2017 Conference and Annual General Meeting of the Nigerian Society of Engineers. In the paper entitled, “Revival and Development of Local Manufacturing Industries: Chemical and Petrochemical Industries”, Dr. Baru, who is a Fellow of the NSE, said the accelerated expansion of the gas pipeline system was sequel to the directive…
…Identifies Infrastructure Deficit As A Challenge Yemisi Izuora The President African Development Bank (AfDB) Dr. Akinwumi Adesina has observed that the aviation industry in Africa is structurally lopsided and as such prospects of growth is dim. Adesina who spoke at the International Civil Aviation Organization, ICAO, third International World Aviation Forum, IWAF3, in Abuja noted that aside the structure imbalances, finance is critical to the sectors survival. According to him, African aviation needs financing of about $150 billion value in aircraft acquisition alone. The AfDB president also said the way the present Africa’s aviation architecture is constructed, its difficult for…
Background The Monetary Policy Committee met on the 20th and 21st of November, 2017 against the backdrop of a relatively optimistic global economic outlook. The Committee reviewed key developments in the global and domestic economies during the first ten months of 2017 and assessed the risks to price and financial stability in the short- to-medium term as well as outlook for the first half of 2018. Nine (9) members of the MPC were present at the meeting. External Developments Global output is projected to improve to 3.6 per cent in 2017 from 3.2 per cent in 2016. The revised growth forecast reflects…
Yemisi Izuora The Pension Transitional Arrangement Directorate (PTAD), has paid pensioners under the Defined Benefit Scheme (DBS) another instalment of the 33 percent Pension arrears owed to its pensioners. The categories of pensioners affected include the Nigerian police pensioners; Civil Service Pensioners and parastatals pensioners. The agency said, “All pensioners under the Customs, Immigration and Prisons Pensions Department had already beenpaid the 33 per cent arrears in full since August 2016. The latest payment was made from the Service Wide Vote released last week by the Federal Ministry of Finance (FMF). The PTAD further assured that it will settle the outstanding arrears of the 33 per cent increment…
Yemisi Izuora The Pension Transitional Arrangement Directorate PTAD commenced the verification of pensioners of Delta Steel Company and Federal Housing Authority under Its defined benefits scheme in three centers across the country. The exercise is taking place in Lagos, Delta and Abuja. About 8,000 of them are are expected to be verified many after many years they left service and almost lost hopes of enjoying their pension benefits. At its commencement in Abuja, one of those who came for verification was Mr Onofiok Ekong who retired as a General Manager of the steel company in 1995. He said he did…
Yemisi Izuora The Incumbent Governor of Anambra state Willie Obiano has been declared winner of the Saturday governorship election by the Independent National Electoral Commission, INEC with a total vote of 234,071. According to the results Tony Nwoye of APC came second with 98,752 votes, Oseloka Obaze took third with 70,593 votes, Godwin Ezeemo of PPA came fourth with 29,787 votes and Osita Chidoka of UPP bagged fifth with 7,903 votes. However, Chief Willie Obiano of APGA expressed gratitude and thanked electorates for their support. His Reactions Time to Build a New World Being the text of the Acceptance Speech by the Governor…
Yemisi Izuora Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day. The agreement, which was signed in London at the weekend, is also expected to achieve an incremental peak production of about 283mmscfd of gas. Group Managing Director of the NNPC, Dr. Maikanti Baru, who signed on behalf of his Corporation, said the increment to be achieved by the agreement would spread “over the remaining life of the asset (until 2045).” According…
,, …To Sign Service Agreement With NCDMB Yemisi Izuora Members of the Indigenous Petroleum Producers Group (IPPG) have pledged to henceforth support and comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. To cement their commitment, the local operating companies will sign a Service Level Agreement (SLA) with the Nigerian Content Development and Monitoring Board (NCDMB) and this will guide the submission and management of statutory reports between both parties. The new SLA, akin to the type signed between the Board and the Nigerian Liquefied Natural Gas Company (NLNG) in May 2017, will commit members of the IPPG to compliance with the Nigerian Content Act while the Board will keep to a definite response time for reviews and approvals of contracting documentations. The SLA will take into consideration the capacity of the indigenous producing companies and provide necessary concessions as may be necessary. These resolutions were reached at…
Yemisi Izuora The Aviation Round Table (ART) has charged government to better manage funds raised from the nation’s Air Services Agreements and invest them in critical safety infrastructure. This is just as the group, as part of efforts to create capacity and reduce the cost of capital-intensive maintenance cost for domestic carriers in the country, also canvassed for airlines to pull resources together and establish a local maintenance hangar as a way of minimizing their aircraft maintenance cost. The ART made this known in its communique made at the end of its November 9, 2017 Conference tagged: Nigerian Aviation…