Business News
NNPC will export natural gas to Europe, as European refinery closures favour Nigeria
The GMD of Nigerian National Petroleum Corporation (@NNPCgroup), @DrMKBaru, has revealed that the NNPC intends to export natural gas to European countries through the proposed Nigeria-Morocco gas pipeline.
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has revealed that the NNPC intends to export natural gas to European countries through the proposed Nigeria-Morocco Gas Pipeline.
He said the plan is aimed at linking the pipeline to the existing Maghreb-Europe Gas Pipeline in Northern Morocco to supply gas from Nigeria to Europe.
Baru made this known while speaking to employees of the Kaduna Refining and Petrochemical Company during a retreat that was organised by the management of the refinery.
“The feasibility study has been concluded and the pre-FEED (Front End Engineering Design) optimisation study is currently ongoing.
“While this pipeline will help in electrification and industrialisation of these countries, it will also meet the needs of European consumers for heating.”
Nigeria to benefit from refinery closures in Europe: During the retreat, Baru said the closure of refineries in some European Union countries will favour Nigeria in the long run. This is because refining operations will move to countries with high demands for petroleum products when these advanced economies eventually close their refineries, Baru assured.
This projection is driven by the current dynamics of the global oil and gas industry.
Other factors that will aid Nigeria’s refining operation: Baru also disclosed other factors that could strengthen the Nigerian oil and gas industry. In his assertion, the completion of the Dangote Refinery would create competition in the refining sector.
He also spoke of the benefit of the International Maritime Organisation regulation which reduces the cap on the sulphur content of bunker fuel from 3.5 percent to 0.5 percent as from January 1, 2020.
Baru, however, said the state of Nigeria’s refinery is worrisome, stating that it could deny Nigeria of opportunities in global oil.
Aside from the KRPC, Nigeria’s other refineries are the Port Harcourt Refining Company and the Warri Refining and Petrochemical Company.
Coronavirus
COVID-19 Update in Nigeria
On the 5th of March 2021, 371 new confirmed cases and 3 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 158,042 confirmed cases.
On the 5th of March 2021, 371 new confirmed cases and 3 deaths were recorded in Nigeria.
To date, 158,042 cases have been confirmed, 137,025 cases have been discharged and 1,954 deaths have been recorded in 36 states and the Federal Capital Territory.
A total of 1.54 million tests have been carried out as of March 5th, 2021 compared to 1.49 million tests a day earlier.
COVID-19 Case Updates- 5th March 2021,
- Total Number of Cases – 158,042
- Total Number Discharged – 137,025
- Total Deaths – 1,954
- Total Tests Carried out – 1,544,008
According to the NCDC, the 371 new cases are reported from 20 states- Lagos (101), Rivers (54), Anambra (31), Ebonyi (23), Imo (23), Kwara (22), Kano (20), Taraba (17), Akwa Ibom (16), FCT (15), Abia (13), Kaduna (13), Osun (5), Edo (4), Oyo (4), Kebbi (3), Ogun (3), Ekiti (2), Nasarawa (1), and Zamfara (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 56,374, followed by Abuja (19,328), Plateau (8,939), Kaduna (8,623), Oyo (6,761), Rivers (6,651), Edo (4,645), Ogun (4,419), Kano (3,830), Ondo (3,066), Kwara (2,953), Delta (2,582), Osun (2,449), Nasarawa (2,248), Enugu (2,078), Katsina (2,060), Gombe (2,010), Ebonyi (1,951), Anambra (1,811), Akwa Ibom (1,588), and Abia (1,568).
Imo State has recorded 1,551 cases, Borno (1,297), Bauchi (1,232), Benue (1,188), Adamawa (942), Niger (917), Taraba (863), Ekiti (825), Bayelsa (779), Sokoto (769), Jigawa (496), Kebbi (401), Cross River (334), Yobe (288), Zamfara (221), while Kogi state has recorded 5 cases only.
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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.
Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.
Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.
On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.
On 28th February 2021, the federal government confirmed that the first tranche of Covid-19 vaccines will arrive in Nigeria on Tuesday, March 2nd, 2021.
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Hospitality & Travel
MMA2 imports new x-ray machines from US
MMA2, Lagos took delivery of new x-ray machines ordered by Bi-Courtney Aviation Services Limited (BASL) to upgrade its facilities.
