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NNPC partners Oando, others to improve Nigeria’s electricity

The NNPC recently partnered some of Nigeria’s major oil exploration companies to work together on the  “Seven Critical Gas Development Projects”.

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Nigerian National Petroleum Corporation, Crude oil, oil production

As part of efforts aimed at improving electricity generation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) recently partnered some of the country’s major oil exploration companies to work together on the  “Seven Critical Gas Development Projects” which will enable Nigeria produce some 15,000 megawatts of electricity in two years’ time.

Some of the oil companies partnering on the project are Oando Plc, Shell Petroleum Development Company, Nigerian Agip Oil Company (NAOC), etc.

The critical gas project, which is worth some $3.7 billion, will guarantee that about 3.4 billion cubic feet of natural gas are delivered per day.

It will also ensure that Nigeria’s abundant gas reserves are put into good use towards the improvement of the country’s struggling electricity sector.

Meanwhile, the Nigerian Agip Oil Company Joint Venture is expected to be responsible for unlocking nearly 50% of the 42 trillion cubic feet of gas which the partnership aims to deliver by 2020. The Chief Operating Officer of Oando Plc, Dr Ainojie Irune, disclosed this while speaking at an event marking the commencement of the partnership.

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Note that Oando Plc is part of the Nigerian Agip Oil Company Joint Venture.

“The company’s focus was to ensure that indigenous companies play an integral role in creating the new Nigeria; a  Nigeria where as a result of our combined efforts we are driving industrialisation, driving the commercial use of gas, and ultimately creating and enhancing value for the nation.  The NAOC Joint Venture (JV) of which Oando is a part of will be responsible for unlocking almost 50% of the 42  trillion cubic feet  that the 7-Critical Gas Development Projects aims to deliver by 2020.” – Irune

Irune acknowledged the crucial role crude currently plays in the economy, noting that majority of the companies in Nigeria depend mainly on diesel for their energy needs. But that notwithstanding, he stated that gas utilisation will ensure reduced costs and ultimately improve the country’s Gross Domestic Product.

The Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Dr Maikanti Baru, had also noted that partnering the oil companies on the gas project will ultimately close the existing gap between demand and supply in the Nigerian gas market.

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He also noted that the domestic demand for gas is growing exponentially, outpacing the supply rate. What this means, therefore, is that more needs to be done to meet the demand.

Meanwhile, the partnership will also, among other things, entail the development of some oil fields, including the 4.3 trillion cubic feet Assa North/Ohaji South Field, the 6.4 Tcf Unitised Gas fields, and the 7Tcf Oil Mining Leases 26, 30 and 42 belonging to the Petroleum Development Corporation.

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs. He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor. Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan. If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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Business

Lagos shuts 3 container terminals, hotel in Amuwo Odofin, seals 17 buildings in Lekki

The government has moved to seal illegal terminals and unapproved structures in the state.

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Lagos issues ultimatum to Tank Farm Operators over planning permit, Lagos seals 27 residential and commercial buildings in Lekki, LASG Seals 19 more Buildings in Banana Island over planning permit

The Lagos State Government has moved to stop activities of the illegal container terminals with the sealing up of 3 illegal locations along Festac Link Bridge, Amuwo Odofin. This also includes the one used for batching sand underneath the bridge, among others.

The state government, in its continued clampdown on illegal structure, sealed off 17 buildings at Oniru Estate, Lekki and several others along Oniru Beach. It also sealed the Festival Hotel and a 9-floor serviced apartment illegally renovated in Amuwo Odofin.

This disclosure was made by the Lagos State Commissioner for Physical Planning and Urban Development, Dr. Idris Salako, while supervising the sealing off of the facilities, in the company of the Special Adviser to the Governor on Urban Development, Ganiyu Adele Ayuba, and Permanent Secretary of the ministry, Arc. Foluso Dipe.

Salako noted that the existence of container terminals and docks must be controlled in order to forestall abuse of the physical environment and ensure environmental sustainability.

He explained that the container terminals, some of which also operated unapproved docks, are located indiscriminately in apparent contravention of the Lagos State Urban and Regional Planning Law 2019 which stipulates that prospective developers must obtain Planning Information and Planning Permit as necessary conditions for locating such facilities.

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While ordering the removal of the container trucks along Festac-Mile 2 link-bridge, the Commissioner said that the State Government would not condone the existence of illegal terminals or similar facilities across the metropolis in view of their impacts on the infrastructure and natural resources of the State.

Salako urged anyone interested in setting up such facilities to approach the Ministry of Physical Planning and Urban Development for Planning Information, which would give informed advice on approvable locations, and also obtain a Planning Permit from the Lagos State Physical Planning Permit Authority (LASPPPA).

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Coronavirus

COVID-19 Update in Nigeria

On the 18th of September 2020, 221 new confirmed cases and 1 death were recorded in Nigeria.

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 56,956 confirmed cases.

On the 18th of September 2020, 221 new confirmed cases and 1 death were recorded in Nigeria, having carried out a total daily test of 2,609 samples across the country.

To date, 56,956 cases have been confirmed, 48,305 cases have been discharged and 1,094 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 482,321  tests have been carried out as of September 18th, 2020 compared to 479,712 tests a day earlier.

COVID-19 Case Updates- 18th September 2020,

  • Total Number of Cases – 56,956
  • Total Number Discharged – 48,305
  • Total Deaths – 1,094
  • Total Tests Carried out – 482,321

According to the NCDC, the 221 new cases were reported from 18 states- Lagos (59), Abia (46), FCT (22), Gombe (20), Plateau (17), Rivers (11), Bauchi (7), Benue (6), Ekiti (6), Imo (6), Kaduna (4), Kwara (4), Ondo (4), Ogun (3), Osun (3), Bayelsa (1), Edo (1), Kano (1)

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 18,827, followed by Abuja (5,526), Oyo (3,226), Plateau (3,192), Edo (2,611), Kaduna (2,326), Rivers (2,220), Delta (1,799), Ogun (1,758), Kano (1,734), Ondo (1,594), Enugu (1,234), Ebonyi (1,035), Kwara (1,013), Abia (881), Katsina (845), Osun (810), Gombe (799), Borno (741), and Bauchi (689).

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Imo State has recorded 557 cases, Benue (473), Nasarawa (447), Bayelsa (394),  Jigawa (322), Ekiti (313), Akwa Ibom (288), Niger (250), Anambra (232), Adamawa (230), Sokoto (161), Taraba (95), Kebbi (93), Cross River (85), Zamfara (78), Yobe (73), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

 

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Business

Fire guts fuel tanker, vehicles at Anthony, Lagos

The tanker conveying PMS lost control while in motion and subsequently fell sideways.

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NNPC reacts to Lagos pipeline explosion

There is a fire outbreak, which has gutted a fuel tanker, at Anthony inward Gbagada, Lagos State.

This was disclosed by the Federal Fire Service via its Twitter handle on Friday evening. The incident, which occurred around 10 pm, has razed at least two vehicles.

The agency urged road users to avoid the area and take alternative routes.

Also, the Director-General of the Lagos State Emergency Agency, Dr Olufemi Oke-Osanyintolu, confirmed the incident.

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He said, “The Agency responded to distress calls and upon arrival at the scene of incident, it was discovered that a tanker with unknown registration number conveying PMS lost control while in motion and subsequently fell sideways.

“This led to an explosion in which two unidentified vehicles were burnt.”

A joint team of responders led by the Federal Fire Service, LASEMA, LASG fire service, LRU fire unit, Nigeria Police and LASTMA are working together to curb the inferno from escalating further.

Details soon …

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