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Business News

LNG: Nigeria, other African countries to attract $103 billion investments

Nigeria, Egypt, Mozambique and one other African country, are expected to attract nearly $103 billion investments from Liquefied Natural Gas (LNG) projects this year (2019).

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LNG Nigeria

Nigeria, Egypt, Mozambique and one other African country are expected to attract nearly $103 billion investments from Liquefied Natural Gas (LNG) projects this year (2019). This is according to a statement released by LNG.

The statement released ahead of the 5th Gas Summit of the Gas Exporting Countries’ Forum in Malabo, Equatorial Guinea, noted that the investments, which will come as a result of the increasing demand for gas, is an evidence that gas liquefaction is viewed as the most profitable strategy for realising Africa’s gas potential. 

“Africa is an exciting frontier in the global natural gas sector. The continent holds 7.1% of proven global gas reserves and is expected to contribute nearly 10 per cent of global production growth through to 2024,” the statement said. 

[READ MORE: Common Mistakes Mutual Fund Investors Make]

According to the statement, Africa’s large, urbanised and industrialised societies of the future would require reliable and sustainable power generation. 

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What you should know: Africa is an exciting frontier in the global natural gas sector. The continent holds 7.1% of proven global gas reserves and is expected to contribute nearly 10% of global production growth through to 2024. 

Nigeria’s record supply side: Nigeria accounts for over 50% of current LNG production capacity on the continent. The final investment decision on the $12 billion expansion of the country’s liquefaction plant at Bonny Island in Rivers State will be made in October 2019. 

The Train 7 expansion project would increase Nigerian LNG’s production capacity by 35%, from 22 million tons per annum to 30 million. Current indications point to a positive verdict. The 20-year-old facility is owned and operated by a consortium which includes NNPC, Shell, Total and Eni. 

Prior to this development, Dr. Maikanti Baru, the former Group Managing Director of the state-owned Nigerian National Petroleum Corporation (NNPC), had disclosed that Nigeria’s oil and gas sector is expected to attract $48.4 billion (about N17.29 trillion) out of the industry’s $194 billion (about N69.84 trillion) capital investment flow into Africa by 2025. 

[READ ALSO: Aviation committee to question contractor responsible for Enugu Airport Closure]

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Hospitality & Travel

KLM demands rapid antigen tests from Lagos passengers, as Netherland bans flights to UK, others

Passengers are to obtain rapid antigen tests at Murtala Mohammed International Airport before departure via Air France KLM Royal Dutch Airlines.

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KLM, Air France to resume flight operations in Nigeria from December 7

Air France KLM Royal Dutch Airlines has asked passengers departing from Lagos to obtain a rapid antigen test at Murtala Mohammed International Airport before departure from January 26, 2021.

This was disclosed by the Commercial Team Nigeria, Air France KLM Royal Dutch Airlines in its newsletter.

The airlines explained that customers, who are traveling to France as their final destination, now need to show a negative COVID-19 test result before boarding the aircraft and that the test result cannot be older than 72 hours and only PCR or LAMP tests are accepted.

Also, to fight against COVID-19, the Dutch government imposed flight ban to the United Kingdom, South Africa and South America.

It stated, “In addition, a second COVID-19 test will be required (rapid test – antigen) for all customers traveling to The Netherlands, including transfer customers.

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“No passengers will be allowed to board the aircraft without both the negative PCR test (72 hours before departure) and antigen test results (4 hours before departure) and will be rebooked accordingly. For now, all flights to/from U.K will be suspended until 27 January 2021.”

Steps to obtain rapid test

  • Antigen testing for passengers flying to The Netherlands including transfer customers need to be done as of 4
    hours prior to flight departure. In order to undergo the test, each passenger must complete a biodata form
  • The payment for the COVID-19 antigen test needs to be made via cash or card. The venue for sample collection is at the airport close to the check-in desks.
  • Rebook policy for mandatory PCR test: Customers that are not able to provide negative test results on time can take advantage of Air France and KLM PCR-test rebook policy.

What you should know

In December 2020, Nairametrics reported that KLM Royal Dutch Airlines and Air France resumed flight operations to Abuja and Lagos.

The airlines in a statement disclosed that international passengers can now fly Air France and KLM from Nigeria (Abuja and Lagos) to Paris and Amsterdam, with the possibility of further transfers to other European and North Atlantic destinations.

In a piece of travel advice, the airline asked customers to ensure they are well prepared for their trip and check the entry and travel requirements for their destination and transit countries in line with travel restrictions and governmental authorizations before making any travel plans. This is as the entry requirements may change with short notice.

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Tech News

Twitter acquires newsletter service, Revue

Twitter has acquired Revue, an email service that lets writers publish newsletters.

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Twitter Acquires Revue, A Newsletter Company

Twitter has acquired Revue, a Dutch startup that makes it free and easy for anyone to start and publish editorial newsletters. This is coming after a failed attempt to acquire Revue’s competition Substack.

Twitter has made massive moves over the past two months to acquire start-ups as it tries to expand beyond its core timeline product.

What they are saying

  • According to a blog post by Twitter VP of Publisher Products, Mike Park and Product Lead, Kayvon Beykpour, “Many established writers and publishers have built their brand on Twitter, amassing an audience that’s hungry for the next article or perspective they Tweet. Our goal is to make it easy for them to connect with their subscribers, while also helping readers better discover writers and their content. We’re imagining a lot of ways to do this, from allowing people to sign up for newsletters from their favorite follows on Twitter, to new settings for writers to host conversations with their subscribers. It will all work seamlessly within Twitter.

They added that Twitter will continue to operate Revue as a standalone product, with its team remaining “focused on improving the ways writers create their newsletters, build their audience and get paid for their work.”

  • “Revue will accelerate our work to help people stay informed about their interests while giving all types of writers a way to monetize their audience – whether it’s through the one they built at a publication, their website, on Twitter, or elsewhere,” the Twitter executives said.

They also said that bringing Revue to Twitter will supercharge this offering, helping writers grow their paid subscribers while also incentivizing them to produce engaging and relevant content that drives conversations on Twitter.

Twitter will make Revue’s Pro features free for all accounts and lower the paid newsletter fee to 5%, a competitive rate that lets writers keep more of the revenue generated from subscriptions.

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What you should know:

  • In December, Twitter bought Squad, a multi-participant video chat app, and this month it acquired the social broadcasting service, Breaker to create audio conversations for Twitter users. And now, they have added Revue to the collection of startups.
  • Revue was originally founded in 2015 in the Netherlands.
  • Twitter’s acquisition of Revue also places it in direct competition with Substack, a rival email newsletter service that has been growing in popularity recently.

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Coronavirus

Benue State Governor, Ortom tests positive for COVID-19

Benue State Governor has commenced treatment after testing positive for COVID-19.

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Governor Samuel Ortom of Benue State has tested positive for COVID-19.

This was disclosed by his Chief Press Secretary, Terver Akase, in a statement issued on Wednesday.

He stated, “This follows the test results of most of the Governor’s close aides who also returned positive in the last few weeks.

“Though the Governor has not shown any symptoms of the disease, he has already commenced treatment as prescribed by medical personnel.”

According to him, the governor has advised those who have come in contact with him in the last couple of days to go for a test.

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“The Governor says it is equally important that those who came in contact with other persons who have tested positive for the virus should go for a test to ascertain their COVID-19 status.

“Governor Ortom urged Benue people to continue to observe the protocols for the prevention of the virus such as wearing of face masks, use of sanitisers, regular hand washing and physical distancing,” he added.

What you should know

Some of the governor’s aides which included his personal physician, aide de camp, orderly, permanent secretaries among others had recently tested positive for the virus.

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