Marine and Blue Economy Ministry Aims to Boost Eastern Port Traffic with Infrastructure Upgrades The Ministry of Marine and Blue Economy has announced plans to ramp up vessel traffic to the Eastern ports through strategic infrastructure investments and policy initiatives. This move is part of the ministry's efforts to achieve key performance indicators (KPIs) outlined in the Presidential Performance Bond. During the commissioning ceremony of a newly constructed 4.8km road and marine craft at Onne port, Rivers State, Mr. Adegboyega Oyetola, Minister of Marine and Blue Economy, emphasized the importance of optimizing efficiencies and maximizing the capacity utilization of Eastern ports, including those in Onne, Rivers Warri, and Calabar. Mr. Oyetola highlighted three crucial policy directives aimed at achieving these objectives. Firstly, the introduction of fiscal incentives for non-associated gas, midstream, and deepwater developments is expected to attract significant investments, enhance security measures, and increase domestic gas utilization. Secondly, streamlining the contracting process to a six-month cycle will reduce bureaucratic bottlenecks and improve operational efficiency. Lastly, applying local content requirements without hindering investments or competitiveness aims to foster sustainable development and empower local stakeholders. The minister praised the ISO certification achieved by Onne and Calabar Port Complexes, underscoring the commitment to safety and international standards. He reiterated the ministry's top priority of creating an enabling environment to attract investors to Eastern ports, aligning with President Bola Ahmed Tinubu's directives. Mr. Oyetola commended the Nigerian Ports Authority (NPA) for its efforts in infrastructure development, including the ongoing $1 billion investment in port reconstruction and rehabilitation. He pledged prompt approvals for initiatives enhancing port performance. In response, Mr. Mohammed Bello-Koko, Managing Director of NPA, highlighted the positive impact of the new infrastructure on cargo dwell time and revenue generation. The completion of the 4.8km road, particularly linking to new berths and leased port development areas, signifies readiness for growth and competitiveness. Mr. Bello-Koko emphasized the need for additional support, including concrete fencing for security, to safeguard investments and ensure uninterrupted port operations. The concerted efforts by the Ministry of Marine and Blue Economy and NPA reflect a commitment to bolstering Eastern port capacities, driving economic growth, and enhancing Nigeria's maritime sector's global competitiveness.
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Marine and Blue Economy Ministry Aims to Boost Eastern Port Traffic with Infrastructure Upgrades.

Bymajorwavesen

Marine and Blue Economy Ministry Aims to Boost Eastern Port Traffic with Infrastructure Upgrades. The Ministry of Marine and Blue Economy has announced plans to ramp up vessel traffic to the Eastern ports through strategic infrastructure investments and policy initiatives. This move is part of the ministry’s efforts to achieve key performance indicators (KPIs) outlined…

Savannah Signs Share Purchase Agreements to Acquire a 49% Participating Interest in Stubb Creek Field, Nigeria

Savannah Signs Share Purchase Agreements to Acquire a 49% Participating Interest in Stubb Creek Field, Nigeria

Bymajorwavesen

Savannah Signs Share Purchase Agreements to Acquire a 49% Participating Interest in Stubb Creek Field, Nigeria.  Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, announces that it has signed separate Share Purchase Agreements (“SPAs”) with Sinopec International Petroleum Exploration and Production Corporation (“SIPC”) and Jagal Ventures Limited…

NGA Applauds Nigeria's Gas Investment Policies for Promoting Sustainable Energy Future.

NGA Applauds Nigeria’s Gas Investment Policies for Promoting Sustainable Energy Future.

Bymajorwavesen

NGA Applauds Nigeria’s Gas Investment Policies for Promoting Sustainable Energy Future. The Nigerian Gas Association (NGA) has expressed its deep appreciation to the Federal Government for recently gazetting three crucial policy directives aimed at unlocking investments in the oil and gas sector. These directives, which cover fiscal incentives for non-associated gas, midstream, and deepwater developments,…

Global Oil Demand Expected to Rise by 6% by 2028, Reaching 105.7 Million Barrels per Day

Global Oil Demand Expected to Rise by 6% by 2028, Reaching 105.7 Million Barrels per Day

Bymajorwavesen

Global Oil Demand Expected to Rise by 6% by 2028, Reaching 105.7 Million Barrels per Day. The International Energy Agency (IEA) forecasts a significant increase in global oil demand, projecting a 6% rise by 2028 to reach 105.7 million barrels per day (mb/d). This surge is attributed to robust demand from sectors such as petrochemicals…

Saudi Aramco CEO Dismisses Global Push for Renewable Energy Transition as Unrealistic.

Saudi Aramco CEO Dismisses Global Push for Renewable Energy Transition as Unrealistic.

Bymajorwavesen

Saudi Aramco CEO Dismisses Global Push for Renewable Energy Transition as Unrealistic. The aspiration of the global community to shift from fossil fuels to cleaner energy sources has been labeled as unrealistic by the Chief Executive Officer of Saudi Aramco, Amin Nasser. Nasser made these remarks on Monday during the 2024 edition of CERAWeek by…

EKEDC Enhances Power Supply with Nigeria’s First 2×20 MVA Substations in Surulere
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EKEDC Enhances Power Supply with Nigeria’s First 2×20 MVA Substations in Surulere

Bymajorwavesen

EKEDC Enhances Power Supply with Nigeria’s First 2×20 MVA Substations in Surulere.  In a groundbreaking development for Nigeria’s power sector, the Lagos State Governor, Mr. Babajide Sanwo-Olu, has inaugurated two 20 MVA injection substations at Randle Mechanic Village, Surulere, Lagos, operated under the Eko Electricity Distribution Company (EKEDC) franchise. These projects mark a significant stride…

MicCom Cables Leads Nigerian Industry with Triple ISO Certification
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MicCom Cables Leads Nigerian Industry with Triple ISO Certification

Bymajorwavesen

MicCom Cables Leads Nigerian Industry with Triple ISO Certification Breaking News: Lagos, Nigeria, March 19, 2024 — MicCom Cables has made history in the Nigerian manufacturing sector by achieving a remarkable triple certification under the esteemed ISO standards. The company’s recent accreditation includes ISO 9001:2015 for Quality Management System (QMS), ISO 14001:2015 for Environmental Management…