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SEPLAT Group partners NNPC to build multi-billion naira gas plant in Imo State

SEPLAT Group has partnered with the NNPC to site a multi-billion naira gas plant in Imo state.

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SEPLAT Group has partnered with the Nigerian National Petroleum Corporation (NNPC) to site a multi-billion naira gas plant at Asaa, Ohaji-Egbema Local Government Area of Imo state.

This is according to a disclosure by the Executive Governor of Imo State, Senator Hope Uzodinma, during the commissioning of the project.

READ: Ekeh, Zinox boss, intervenes in Imo State with N1 billion

Governor Uzodinma assured the residents that the recent development in their community will lead to massive employment of both unskilled and skilled workers, ensuring a win-win situation for all.

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He further allayed fears of government neglect and possible collusion with oil companies to the detriment of the community

READ:  What banks might do to avoid getting crushed by Oil & Gas Loans

What you should know

According to the Managing Director of Seplat Group, Dr. A.B.C Ojiako, the joint project is a signature gas project executed 50% by SEPLAT Group and 50% by Nigerian National Petroleum Corporation (NNPC) at Asaa, Ohaji/Egbema, Imo State.

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What they are saying 

Commenting on the recent development, the Governor said, “I was at the multi-billion Naira Gas Project sited at Asaa, Ohaji/Egbema, alongside the Seplat chairman, Dr. A.B.C Ojiako and his management team.

READ: Seplat commences $700 million gas plant construction

“I assured the people of Asaa community that my administration will stand as a referee to make sure that dev. is brought to the people by the Seplat Group. Gone are the days when Oil Companies collude with a few community leaders to exploit the rest of the host communities.

“The Imo State Government will not encourage a situation where oil companies doll out monies to the leaders of their host communities, but will ensure that developmental projects such as hospitals, good roads and schools are provided as part of the company’s community relations services.

READ: NNPC releases audited financial statements, refineries record losses of N154 billion

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“I informed the people that I have the assurances of the company to ensure that they employ both skilled and non-skilled workers in their company, however, urged the community to be a good host to the company in order to ensure a win-win situation for both parties.

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“Furthermore, I commend the Managing Director, Seplat Group, Dr. A.B.C Ojiako, for his humanitarian efforts in bringing developments to the host community, the State, and the Country at large.”

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Energy

Transmission company of Nigeria gives reason for nationwide blackout

Following the current nationwide blackout, TCN has stated that it has started the process of restoration to the national grid.

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The Transmission Company of Nigeria (TCN) has on Sunday announced that the current power blackout in the country was due to multiple trippings.

According to a report by Vanguard, General Manager, Public Affairs, TCN, Ndidi Mbah, who made the announcement through a statement said the company had started the process of restoration to the national grid.

Mbah pointed out that the places that power is yet to be restored were Calabar, Makurdi, Jos, Gombe, Yola, Ugwuaji and Maiduguri axis.

She stated, “The Transmission Company of Nigeria (TCN) regrets to inform electricity consumers nationwide that at 11:25 am today, the nation’s electricity grid experienced multiple trippings, which led to the collapse of the system.’’

“TCN has since commenced grid restoration; power has been successfully restored to every part of the country, except Calabar, Ugwuaji, Markurdi, Jos, Gombe, Yola, and Maiduguri axes. The effort is however ongoing to ensure full restoration nationwide.”

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“We regret the inconvenience this has caused electricity consumers. Investigations would be conducted to establish the immediate and remote cause(s) of the multiple trippings as soon as the grid is fully restored, considering that the grid had been relatively stable in the last couple of months.”

What  you should know

At around 11:25 pm on Sunday, November 29, electricity supply to most parts of the country was disrupted as the national electricity grid experienced multiple trippings.

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Energy

FG to start the installation of 5 million solar power across the country next week

FG will next week commence the process of installation of 5 million solar-home systems in under-served and off-grid communities across the country.

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Solar, FG to slash import duties on tractors, buses, others in 2020 Finance Bill, Nigeria will not issue Eurobonds, says Vice President Yemi Osinbajo, FG guarantees mortgage loan to low income buyers at low interest rate, FG inaugurates gold refinery project in a landmark event

The Federal Government has announced that it will commence the process of the installation of 5 million solar-home systems in under-served and off-grid communities across the country from next week.

This move is in continuation of coordinated implementation of the Economic Sustainability Plan (ESP) which is being coordinated by a committee headed by Vice President Yemi Osinbajo, across the country.

READ: FG says 174,574 successfully register for N75 billion MSME survival fund in 48 hours

This disclosure is contained in a series of tweet posts by the Presidency on Sunday, November 28, 2020, through their official Twitter handle.

It stated that the programme will include the assembly and manufacturing of components of off-grid solutions to facilitate the growth of the local manufacturing industry, while there will be incentives for use of local content. The first set of installation will be done nationwide in December 2020.

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READ: FG disburses MSMEs Survival Fund in Lagos, Kano, FCT and 9 other states

The tweet post from the Presidency stated, ‘’In continuation of a coordinated implementation of the Economic Sustainability Plan (ESP) across the country, the Buhari administration will next week commence the process of installation of 5 million solar-home systems in under-served and off-grid communities across the country.’’

According to the statement, the Central Bank of Nigeria will make available funds to the private companies in the solar power sector involved in the manufacture, assembling installation, servicing of the solar systems, at rates ranging between 5 to 10%.

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READ: FG guarantees mortgage loan to low income buyers at low interest rate

It also states that apart from providing access to affordable energy, the objective of the plan is to improve social, economic and environmental welfare of 25 million Nigerians while generating jobs, increasing revenues and import substitution.

READ: FG goes after AMCON’s N5trillion debtors, sets up task force on funds recovery

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What you should know

The NESP, which was approved by the Federal Executive Council on June 24, 2020 and developed by the Economic Sustainability Committee, chaired by Vice President Yemi Osibanjo, is to develop a plan that responds robustly and appropriately to the challenges posed by the Covid-19 pandemic amongst other terms of reference.

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A major part of the plan is the installation of solar home systems that targets 5 million households, serving about 25 million individual Nigerians who are currently not connected to the National Grid. The solar manufacturers will be required to set up production facilities in Nigeria and provide the materials required.

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READ: Covid-19: Nigerian government explains how it will fund proposed N2.3 trillion stimulus

 

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Energy

AutoGas: President Buhari to launch scheme on December 1

President Buhari will launch a National AutoGas Scheme on the 1st of December.

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AutoGas, #EndSARS: Presidency to ensure that a repeat of protests does not happen, How Federal Government plans to increase VAT to 7.2% affects you

President Muhammadu Buhari will launch a National AutoGas Scheme on the 1st of December, as Nigeria makes alternative moves to maximize its rich natural gas reserves as a means of fuel consumption.

This was disclosed by Dr Mohammed Ibrahim,  Chairman, National Gas Expansion Programme (NGEP), in a statement after a meeting with stakeholders on Saturday in Lagos.

READ: FG approves new board for NLNG, BGT

Dr. Ibrahim told stakeholders on Saturday that the autogas scheme and deepening domestic utilisation of Liquefied Petroleum Gas (LPG) would create about 12.5 million direct and indirect jobs for Nigerians.

He also added that the Presidential fleet has already converted some of it fuel engines to run on  Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG), adding that the adoption of AutoGas was necessitated by the deregulation of petrol by the government, which had led to increment in the pump prices in recent times.

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READ: PIB; Will the jinx be broken this time around?

”We need about 500, 000 conversion engineers in the next 90 days to ensure that the retrofitting of the vehicles go as planned.

“Fifty conversion centres are currently upgrading for mass conversion and trainings and over 30,000 vehicles are already running on dual fuels in Nigeria.”

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READ: Nigeria to import petroleum products from Niger Republic, sign MoU on transportation, storage

“The 90 days training is being undertaken by the Nigerian Content Development Monitoring Board and the Petroleum Trust and Development Fund.

” These entrepreneurs will get their own foundries for manufacturing and will thereafter train others as time goes on,” he said.

READ: Largest private investment in Africa begins $15 billion financing

What you should know 

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Nairametrics reported in September that the Minister of State for Petroleum Resources, Timipre Sylva revealed that Nigerians can now convert cars using petrol to gas, which is cheaper, with effect from October 2020.

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The Department of Petroleum Resources also ordered 9,000 filling stations nationwide to begin the installation of facilities for gas products.

In October, the Federal Government estimated that the Compressed Natural Gas (CNG) will cost N97 per litre, as it had promised to provide alternatives to the Premium Motor Spirit (PMS), otherwise known as petrol, for poor Nigerians.

READ: DPR shuts down 85 gas plants in Lagos for illegal operations

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