The African Export-Import Bank (Afreximbank) has reiterated that the African Continental Free Trade Agreement (AfCTA) will boost intra-African trade. The Bank also said the agreement would lead to specialisation among African countries in areas they have comparative advantage. The Director and Global Head Communications and Event Management, Afreximbank, Mr. Obi Emekekwue, who said this at a…
In June 2018, Bouake, the second largest city of Cote d’Ivoire, suffered its first-ever shutdown of domestic water supply The Mashaba project in southern Zimbabwe has a 99 KW mini-grid to power 2 irrigation schemes, 2 business centres, 1 school and 1 clinic. (Image source: Activ Solar/Flickr) The country’s dammed lake, which supplies 70 per…
The Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), Dr. Chidi Izuwah, has reiterated the federal government’s commitment towards driving Public Private Partnership (PPP) in its quest to address the infrastructural deficit facing the country. Izuwah stated this in Lagos at the Association for Consulting Engineering in Nigeria (ACEN) Annual General Meeting (AGM) and its 40th…
Paktim Consulting Nigeria Limited is offering free smart meters to Distribution Companies (Discos) in the country, in order to meet the needs of electricity consumers in the country. Speaking at a media briefing in Lagos, the Managing Director of Paktim Consulting Nigeria Limited, Larry Adesida, said before the Nigerian Electricity Regulatory Commission (NERC) launched the Meter Asset Provider (MAP)…
Out of 61 transactions valued at $40.4bn tabled for discussions in boardroom sessions at the just concluded African Investment Forum in Sandton, South Africa, 45 deals worth over $32bn were secured, the African Development Bank has said. In a statement made available to our correspondent in Abuja on Sunday, the AfDB said that the final…
No fewer than 500 employees are about to be dropped from the payroll of the Nigerian National Petroleum Corporation (NNPC) for reportedly failing to scale through a mandatory personnel assessment and promotion examinations the corporation recently conducted, THISDAY has gathered. Very reliable sources within the state oil company said the issue was already causing disquiet…
The Department of Petroleum Resources, (DPR), has said its commitment to optimising value creation and addition to the Nigerian economy is unwavering. The agency said it would continue to stimulate industry competitiveness and investments influx through analysis and valuation of producing and non producing oil assets for viability and net worth purposes. This comes after…
In line with the country’s local content agenda, over 98 per cent of Nestoil Group’s workforce, manning its operations nationwide, are Nigerians. This covers the Group’s engineers, fabricators, welders, architects and administrative staff members, among others. The Managing Director, IMPac Oil & Gas Engineering Limited, a subsidiary of the Group, Chuka Eze, disclosed this during…
The Nigerian Content Development and Monitoring Board (NCDMB) and the Indigenous Petroleum Producers Group (IPPG) have restated their commitment to ending unnecessary delays in contract cycles. In a bid to driving this, the entities signed a Service Level Agreement (SLA), which would boost local content implementation and simplify the procurement and tendering processes for oil…
Stakeholders in the country’s oil and gas sector have accused oil companies of deliberately hiding information about the various deals they undertake, with the intention to dodge relevant tax payments. They alleged that some oil firms go abroad to sign deals on oil assets domiciled in Nigeria, and thus deny Nigeria the full details of…
