Business News
NLNG says Train 7 project will surge production capacity to 30 million MPTA
NLNG through Tony Attah, has said the ongoing Train 7 project will increase its production capacity from 22 million MPTA, to around 30 million MPTA.
The Nigeria Liquefied Natural Gas (NLNG) Limited, through its Managing Director (MD), Tony Attah, has said the ongoing Train 7 project would increase its production capacity from 22 million MPTA to around 30 million MPTA. The figure represents a 35% increment.
While speaking during a panel session at the Fourth Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), which was held in Lagos, Attah said the Train 7 project would also create more jobs, which would increase revenue for the government.
“The Train 7 project will ramp up NLNG’s production capacity by 35% from 22 million MTPA to around 30 million MTPA. The project is anticipated to create about 12,000 new jobs and an additional 40,000 indirect jobs. This translates to more gas, more taxes and more revenue,” Attah was quoted as saying.
Attah, who was represented at the panel session by Adeleye Falade, General Manager, Production, NLNG, said the company was targeting to increase its supply of cooking gas, to the domestic market to 350,000MT in 2020.
(READ MORE: NLNG signs supply agreement with Galp Trading SA)
According to him, the desire of the NLNG to deepen LPG penetration in Nigeria was aimed at creating a healthy life for Nigerians by giving them access to a clean source of energy for cooking.
Recall that in December 2019, the shareholders of the NLNG approved for the company to proceed with its Train 7 project.
As earlier reported by Nairametrics, the Train 7 Project, which has been delayed for over 10 years, aims to increase the company’s production capacity from 22 metric tonnes per annum to about 30 MTPA and will form part of the investment of over $10 billion, including the upstream scope of the LNG value chain.
What you should know: The project aims at increasing the capacity of NLNG’s six-train plant from the extant 22 Million Tonnes Per Annum (MTPA) to 30 MTPA.
This is with the award of contracts for the engineering, procurement and construction activities to follow the closure of bank and Export Credit Agency (ECA) financing, and the finalization of some key supporting commercial agreements expected in early 2020.
The actualisation of the Train 7 Project comes as NLNG celebrates 30 years of its incorporation and 20 years of safe and reliable operations since exporting its first LNG cargo in 1999.
Corporate Press Releases
Customers to win salary-4-life, business grants, rent advance and cash rewards in Diamondxtra quarterly draw
The DiamondXtra Reward Scheme is the most rewarding way to save.
Leading retail bank in Nigeria, Access Bank Plc is set to reward more than 1,000 DiamondXtra customers with various grants and cash prizes in the second DiamondXtra quarterly draw of Season 12 scheduled to hold on Wednesday, July 15, 2020.
According to Adaeze Umeh, Head, Consumer Banking, Access Bank Plc, “We are gearing up for the DiamondXtra quarterly draw this month and we will be rewarding more than 1,000 lucky customers with various cash prizes, business grants, family health insurance, rent advance and other exciting rewards. It is the bank’s little way of rewarding its loyal customers and creating more value to meet customer needs during these trying times. We rewarded ten customers last month with N1million each at the monthly draw and we are here again to reward more customers in the quarterly draw.”
To join the winning train, all you need to do is keep saving if you have a DiamondXtra account already. “If you don’t have an existing account, simply dial *901*5# to open a DiamondXtra account with just N5, 000 and save multiples of ₦5,000 to increase your chances of winning,” Adaeze told newsmen in Lagos.
Some of the DiamondXtra rewards for the quarterly draw include:
- Salary4Life (N100,000 every month for 20 Years)
- Rent for a Year for 21 lucky customers
- One Year Family health coverage for 7 lucky customers
- N1Million business grant for 6 lucky customers
- ₦500,000 for 15 lucky customers
- ₦100,000 for 45 lucky customers
- ₦50,000 for 300 lucky customers
- ₦20,000 for 300 lucky customers
- ₦10,000 for 300 lucky customers
The DiamondXtra Reward Scheme is the most rewarding way to save, don’t miss out on this opportunity to become a millionaire or a star prize winner. To participate; simply open a DiamondXtra account, save in multiples of ₦5,000 and you stand the chance to win amazing prizes in the quarterly draw this month.
Hospitality & Travel
FG bars aides of VIPs from airport terminals, to grant loans to airlines, others at 5%
The minister insisted that face masks must be worn at all times inside the airport and airplane.
The Federal Government has barred all non-travelling aides of public office holders and very important personalities (VIPs) from gaining access into the Airport terminal.
This is part of the measure and aviation protocol designed to contain the spread of the coronavirus disease and ensure safety of the passengers and workers in the aviation sector.
This was disclosed by the Minister of Aviation, Hadi Sirika, during Monday’s briefing of the Presidential Task Force (PTF) on COVID-19.
Sirika said that this measure applies especially to Governors, Ministers, National Assembly Members, Judicial officers and Military officers as the practice of having their Personal Assistants and Special Assistants, who they insist on seeing them off up to the aircraft though not travelling with them, would be stopped.
The Aviation Minister in his statement said, ‘’Henceforth, all VIPs will no longer be permitted to bring non-travelling aides into the Airport Terminals. This especially applies to Governors, Ministers, NASS members, Judiciary and Military officers.’’
While speaking on the new procedures during this COVID-19 era, the minister said that mandatory temperature and symptoms checks will be carried out at the airport terminals and frequent washing of hands should be done at the airports. He also said that face masks must be worn at all times inside the airport and airplane and anyone who does not do that will not be allowed inside the airport terminals.
He pointed out that physical distancing will be maintained at all times just as unruly passengers will not be allowed to board the aircrafts or fly as no pilot will be allowed to fly a plane carrying an unruly passenger.
He revealed that the processes of compression, heating, cooling and filtration that aircraft cabin air is subjected to, takes out 99.9% of all organisms including viruses etc. that’s why cabin air is safer than most other environments.
The aviation minister also stated that operators in the aviation sector including airlines, ground handling firms and others, will be given loan at 5% interest rate with effect from 2021. He, however, noted that the modalities for the loan is being worked out with the Central Bank of Nigeria and the Federal Ministry of Finance, Budget and National Planning
It can be recalled that Sirika stated this in an interactive session with the senate committee on Aviation where he said that any VIP coming into the airport this time around as a personality, minister or even members of the national assembly will not be carrying their aides into the airports anymore.
Appointments
Vodacom Nigeria gets new MD
Vodacom Business is a leading pan-African telecommunications provider wholly-owned by the Vodacom Group.
Vodacom Business (Nigeria) Limited has appointed Mr Valentine Chime as the Managing Director of its operations. According to a statement from the company on Monday, the appointment is at the instance of the board of directors.
He will now drive the company’s vision of becoming Africa’s leading cloud and digital service provider, the statement read.
Prior to this appointment, Valentine Chime was with Aruwa Capital, a private equity company investing across West Africa. He also worked at Kaizen Venture Partners, a private equity company focused on distressed assets. He has held various C-suite positions in a number of portfolio companies in different sectors.
READ ALSO: Africa seeking extra $44 billion to deal with COVID-19 pandemic
Chime expressed his enthusiasm to take up the position and challenge of building the Vodacom brand in the country. He said:
“Vodacom Business Africa (Nigeria) Limited is well-known and very respected in the industry, and I look forward to taking up this mission.
“Covid-19 has accelerated digital transformation, and we are perfectly positioned to deliver intelligent connectivity through seamless delivery of cloud and digital services and technologies to our clients.”
Download the Nairametrics News App
Vodacom Business is a wholly-owned subsidiary of the Vodacom Group, and a leading pan-African telecommunications provider that came into Africa since 1992.
Customers to win salary-4-life, business grants, rent advance and cash rewards in Diamondxtra quarterly draw
Gold price rises further due to influx of new COVID-19 cases
Naira remains stable as traders and speculators remain in state of flux
FG bars aides of VIPs from airport terminals, to grant loans to airlines, others at 5%
XRP losing steam as BTC & ETH gain investors’ funds
COVID-19 Update in Nigeria
FRC orders the Big Four to separate auditing from consulting services
FG to shut Third Mainland Bridge for 6 months
Within 72 hours USDC Treasury transfers over 50,000,000 USDC to wallets
Cornerstone Insurance’s board will meet July 22nd to consider 2 important issues
