Connect with us
iubh
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Business News

Train 7 project: NLNG reacts after NNPC, others delay decision 

NLNG has reacted to the set-back recently experienced during the final investment decision meeting involving shareholders of the company.

Published

on

Train 7 project: NLNG reacts after NNPC, others delay decision

Nigeria Liquified Natural Gas Limited (NLNG) has reacted to the set-back delaying the final investment decision meeting involving shareholders of the company on the Train 7 gas project. The recent failure by Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni to reach an agreement has added to the 10 years delay already recorded.

The Nigeria LNG Manager, Corporate Communication and Public Affairs, Sophia Horsfall, said the company was still committed to the gas project despite the setback, stating that activities to ensure the final investment decision was finalised was underway.

NNPC, Chinese firm conclude plans to commence AKK project 

Mele Kyari, GMD, NNPC

A series of delays: For the past 10 years, the final investment decision on Train 7 project has been delayed. The decision was also expected to be finalised in October, according to Nigeria LNG’s Chief Executive Officer, Tony Attah, but it was never concluded. Also, the Group Managing Director, NNPC, Mele Kyari, disclosed last month that the final decision would be taken this month, yet, the December meeting ended without an agreement.

But reacting to the setback and delay of the project, Horsfall said, “The NLNG remains fully committed to realising the Train 7 project which is expected to increase its production capacity by 35% as well as boost its competitive edge in the global LNG market.

“As part of activities leading to the Final Investment Decision, the NLNG recently signed Gas Supply Agreements with its gas suppliers. Other activities leading to achieving FID are in progress,” Horsfall said in a Punch report.

[READ MORE: NNPC, Shell, others delay final investment on NLNG Train 7)

Why this matters? The Train 7 project is expected to increase Nigeria LNG’s production capacity from 22 metric tonnes per annum to about 30 MTPA and would form part of the investment of over $10 billion including the upstream scope of the LNG value chain.

Sigma Pensions

The Nigeria LNG is a company co-owned by the NNPC (representing the Federal government) which holds a 49% stake, while the other stakeholders, Shell has 25.6%, Total holds 15% and Eni accounts for 10.4%.

Why the delay on investment? According to a report by Punch, there are areas in the agreement that still needs deliberation and until they’ve been addressed, nothing can be signed in a hurry. Already, Saipem, Chiyoda Corporation and Daewoo Engineering & Construction Co. Limited have been named as the successful bidders to build the plant.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sports

How we source funds to develop handball in Nigeria – Handball Federation

The Handball Federation of Nigeria discusses sponsorships, strides and progress made.

Published

on

Handball is one of the lesser-known sports in Nigeria, but that doesn’t mean it’s not making strides. Cosmos Chukwuemeka, the media assistant to the President of the Handball Federation of Nigeria, Samuel Ocheho, spoke to Ademola Kadiri in a revealing interview about several issues.

The excerpts are below:

Could you please introduce yourself?

My name is Cosmos Chukwuemeka and I am the media assistant to the president of the Nigerian Handball Federation. I am also a broadcast journalist with LASU Radio where I head the Sports Unit.

We normally don’t hear a lot about the Handball Federation. What could be responsible for this?

Basically, that has to do with the sporting culture of the country. Football is the king of all sports. Everybody loves football. That has to do with the systemic disparity that keeps football ahead of other sports.

The disparity is like the sun and moon; that’s how far they are from each other. It also has to do with structure, talents and inadequacy of facilities; funding is also a big elephant in the room. Football gets 80% of the chunk while the other federations share the remaining 20%.

It’s not only about publicity. Funding also fuels publicity. All of these are the big issues. Policy defects have affected sports, in general. It is not because other sports are not trying, it is because of the defective policy and the challenges that come with it. It is basically systemic.

Hotflex
Sigma Pensions

How does the Federation source for funds?

When the present president came on board, the sport was almost in comatose. They were not attending competitions and grassroots competitions were not being organized. In the 80s, Nigeria used to be the king of handball, but in the 90s, everything fell like a pack of cards because of a whole lot of issues, mainly maladministration.

But then, Samuel Ocheho came in. He’s someone that played the sport, and as a corporate person, he understood how to drive the sport. The first thing he did was to secure the sponsorship for the league, and that was how Prudent Energy came on board. Prudent Energy and Services Limited is an energy company that sponsors the league for about 4 years now. The first phase of the league will come up in May while the second phase comes up in October.

He also ensured that there is level playing ground for individuals that want to put in their money to develop handball. Since 2018, since he became president, there have been many national and international competitions. Apart from the fact that he puts in his own money, which shows his passion, he and the Board have been able to bring a lot of attraction to the sport, so much that handball can now compete with basketball for relevance.

Do the sponsors get value for money to expand the scope of their sponsorship?

Stanbic 728 x 90

Prudent Energy has expanded the scope of its sponsorship twice in 4 years. They are getting the dividends of their investment in the league. When they started in 2018, they got bigger and bigger. Like most energy companies, people might not know about them. They came in and a lot of people started knowing about them and started understanding what they really do.

They came into the league, and it was a big gain for handball to be able to get Prudent Energy, and the dividends for them has been massive. They have leveraged it and everyone now knows that the National Premier Handball League is sponsored by them.

At the point of the lockdown last season caused by Covid-19, they gave out palliatives to all the teams in the league, the players, and even the referees. If they were not getting Return on Investment, they wouldn’t do that at all.

What will you recommend for improving the perception of handball in Nigeria?

It’s a world of technology, and we are trying our best in that regard. We are on YouTube, Facebook, Instagram, and Twitter. We churn out content every other time, giving updates about the league, and other competitions we participate in. We stream matches live, so we are trying our best to improve the perception and publicity. We also have some media partners that have been with us from day 1.

They help in propagating the good work that the Handball Federation of Nigeria is doing for the growth and development of the sport in the country. Interviews like this also help, but ultimately, what we seek is for handball to go back to the grassroots, which is the fastest possible way to grow the sport.

Coronation ads

Continue Reading

Business

Lagos eases restrictions on social, event centres, sets new occupancy limit

The state government has pegged the occupancy limit for event centres in Lagos to 500 people while social events can now have 200 people at a time.

Published

on

The Lagos state government has further eased restrictions on social and event centres in the state. This follows due consultations and deliberations between the Lagos State Governor, Babajide Sanow-Olu, and relevant stakeholders and MDAs.

The state government has pegged the occupancy limit for event centres in Lagos to 500 people while social events can now have 200 people at a time.

This disclosure is contained in a statement by the Lagos State Commissioner for Tourism, Arts and Culture, Uzamat Yusuff, and the Director-General of the Lagos State Safety Commission, Mr Lanre Mojola, on Friday, April 9, 2021.

The statement noted that safety marshals will be deployed to any social event with over 200 people and event centre exceeding the 500 limits.

The statement partly reads, “All event centres must hold a valid license of The Lagos State Ministry of Tourism, Arts and Culture prior to operating as an event centre in the State.

“All event centres must be duly registered and verified on The Lagos State Safety Commission website www.lasgsafetyreg.com prior to holding any event.

An Event Safety Clearance must be obtained from the Lagos State Safety Commission through the website www.lasgsafetyreg.com for any proposed event or exhibition.

Safety Marshals shall be deployed by an accredited event safety consultant from Lagos State Safety Commission for every social event with attendance exceeding over 200 people.

Sigma Pensions

Occupancy limit at any event must not exceed 50% of the maximum design capacity of the hall, wherein Occupancy Limit stickers provided by the Lagos State Safety Commission must be boldly posted at the entrance of the event hall.

Maximum allowable capacity for event centres irrespective of the occupancy limit is 500 people. Deep cleaning must be carried out before and after every event. Physical distancing shall be maintained between seated guests and a maximum number of seated guests should be 6 (six) people on a table of 10 persons.

Event duration should not exceed a maximum period of 6-hours. All guests and service providers at the facility must wear a nose mask and make use of hand sanitisers All guests and service providers must endeavour to wash their hands before entering the venue or in the alternative use hand sanitisers. Temperature checks must be taken at all entry points into a facility.

Guests and service providers with temperature (above 37.5) are to be politely turned back and referred to paramedics or the emergency response team on the ground. Hand sanitizers must be positioned at the entry points and different spots within the hall.

All event centres must endeavour to display standard COVID-19 safety signs. The signs must be bold and installed at conspicuous locations. Event centre owners/ planners/vendors would be responsible for any breach of protocols by their staff.

Stanbic 728 x 90

In case you missed it

  • It can be recalled that in July 2020, the Lagos State Government had issued fresh guidelines on the reopening of event and social centres following their shutdown as part of measures to contain the spread of the coronavirus pandemic.
  • The state government insisted that the owners of such facilities must register with the government pending further directives.

 

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.