President Muhammadu Buhari Monday met with six different groups of investors at the sidelines of the Annual Investment Meeting in Dubai, United Arab Emirates. He had a message for them all: Come to Nigeria and prosper. Come and have handsome returns on your investments, within the shortest possible time.
Sheikh Ahmed Al Maktoum is a member of the Dubai ruling family. He is also a private investor and member of several boards of companies, both state owned and private. He is interested in establishing a power plant in Lagos, and studies have already been completed.
Lulu Group operates a chain of supermarkets in the Middle East and Asia. Mr Yusuff Alli, Chairman of the group, told President Buhari that the outfit, with headquarters in Abu Dhabi, has over 164 supermarkets and shopping malls. It employs over 50,000 people.
The interest is to work with Nigerian farmers, using local produce to ensure food security. Quality, affordability and hygiene are the watchwords of the company.
Also in bilateral meeting with President Buhari was Sheikh Hussain Al Nowais, Chairman of Amea Power. The company develops, owns, and operates thermal and renewable energy projects in Africa, the Middle East and Asia. Its wide range of power solutions include conventional – gas, coal, oil, and renewable – solar, wind and hydro.
Apart from power, the company, which owns Rotana Hotel chain, is also interested in the hospitality sector in Nigeria.
Also on cue was Sheikh Ali Rashid Lootah, Chairman, Nakheel Properties and Limitless Group.
One of the world’s leading developers and a major contributor to Dubai’s real estate transformation, the company’s current and future retail project portfolio covers nearly 17 million square feet of leasable space. They are keen to expand their investments in Nigeria.
Sheikh Khalid Bin Kalban is the CEO of Dubai Investments. His meeting with the Nigerian president centred around real estate, processing industries, mergers and acquisitions, health care, education, and financial investments.
Abu Dhabi Fund for Development (ADFD) has supported over 66 projects in 29 African countries. They include rural solar power and water projects, and that was the focus of the discussion, as Sheikh Mohammed Saif Al Suwaidi, the CEO, met with President Buhari.
The bilateral sessions were not concluded, till the Nigerian president had met with Mr Jitender Sachdeva, CEO Skipperseil Group. An integrated energy company with operations in the manufacturing of substation equipment, discussions were on engineering processing, construction of transmission lines and substations for utilities, institutions and industries.
The company’s CEO expressed delight at meeting with President Buhari, and looked forward to doing good business in Nigeria.
Special Adviser to the President
(Media and Publicity)
April 8, 2019
Eliminating Gas Flare Remains Priority – NNPC
Eliminating gas flare with a view to bequeathing a pollution-free environment to future generations of Nigerians remains a priority of the Nigerian National Petroleum Corporation (NNPC).
The corporation made this commitment at an event held today at the NNPC Towers to mark the World Environment Day.
A statement by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, quoted the Group Managing Director, Dr. Maikanti Baru, as urging members of staff to maintain the NNPC business culture of “working not to harm the people or the environment”.
Addressing the management and staff on the theme of this year’s World Environment Day, “Air Pollution”, the GMD who was represented by the Chief Operating Officer (COO), Ventures, Dr. Babatunde Adeniran, said NNPC had put in place a lot of measures to mitigate the impact of oil and gas exploration activities on the environment.
“As a corporate organization, NNPC is determined to reducing harmful emissions that can impact air quality and the well-being of God’s creatures in all aspects of our operations.
“We are committed to finding ways to fully commercialize our natural gas resources to eliminate gas flare in all existing future gas projects”, he said.
Dr Baru noted that air pollution was a major issue in today’s industrial world that needed all hands to be on deck to tackle.
Also speaking at the event, the Guest Speaker, Mr. Goni Ahmed, former Director General, National Agency for the Great Green Wall, commended the NNPC for championing gas-flare reduction initiatives that had helped Nigeria move from 2nd to 7th position in the global gas flare rating.
He expressed satisfaction with the measures the corporation had deployed to tackle environmental issues in the Oil and Gas Industry and lauded the GMD for ensuring availability of petroleum products across the country.
Earlier in his welcome address, the General Manager, Group Health, Safety, Environment & Quality (GHSEQ) Department, Mr. Hussaini Ali, said the programme offerred everyone the opportunity to contribute to the quality of the air we breathe, noting that the task of ensuring safer environment was a collective responsibility.
In the same vein, Manager, Operations, NNPC Health Manager Organisation (HMO), Dr. Getrude Bassey, advocated for strong individual participation in environmental management to avoid the negative effects of environmental pollution such as cancer, respiratory diseases, among others.
NBC / AIT Faceoff Resolved.
Following the suspension of the Broadcast License of DAAR Communications Plc., owners of Africa Independent Television (AIT) and Ray Power FM by the National Broadcasting Commission ( NBC ), the President of the Nigerian Press Organisation ( NPO ) comprising of the Newspapers Proprietors Association of Nigeria (NPAN), Broadcasting Organisations of Nigeria ( BON ), The Nigerian Guild of Editors ( NGE) and The Nigerian Union of Journalists ( NUJ), convened a meeting of all parties to resolve the issues in the national interest.
The meeting hosted at 8PM, on Sunday 9th of June, 2019, by elders and patrons of NPO, Mallam Ismaila Isa Funtua and Uncle Sam Amuka, had the following in attendance:
1. Ishaq Modibbo -Kawu – Director General & CEO, NBC;
2. High Chief Raymond Dokpesi, Founder and Chairman Emeritus, DAAR Communications Plc;
3. Raymond Dokpesi, jnr, Chairman of the Board, DAAR Communications PLC;
4. Mr Tony Akiotu, GMD, DAAR Communications Plc;
5. Mrs Tosin Dokpesi , MD, AIT;
6. Barrister Donatus Anopuo – Company Secretary DAAR Communications PLC;
7. Uncle Sam Amuka, Publisher, VANGUARD Group;
8. Mallam Ismaila Isa, Patron NPAN and
9. Nduka Obaigbena, President NPAN and President NPO.
At the meeting the National Broadcasting Commission (NBC) restated their commitments to freedom of expression and the constitutionally guaranteed role of the media under sections 22 and 39 to hold governments accountable, which states amongst others that the press, radio, television and other agencies of mass media are to uphold the fundamental objectives contained in the 1999 constitution and ensure the responsibility and accountability of the Government to the people.
The NBC also raised concerns about the non-adherence of the DAAR Communications group (AIT/Ray Power) to the Nigeria Broadcasting Code, despite repeated interactions on same; the NBC then cited lack of editorial balance by DAAR Communications as well as the lingering issue of non-payment of national network license fees by DAAR Communications.
DAAR Communications Plc. defended its position saying it gives its team freedom to make editorial commentary on issues of the day relying on Section 39 of the Nigerian Constitution guaranteeing freedom of Expression, freedom to hold opinions and to receive and impart ideas without interference.
DAAR stated it had made some payments on account to the NBC but acknowledged that there were some defaults in the payment plan they submitted to the NBC, and explained that the defaults were due to decisions jointly reached at BON meetings by all broadcasters to engage and renegotiate the cost of license fees with NBC, in view of the current difficult economic realities affecting the industry. But the NBC insists that license fees are statutory and thus non-negotiable.
After an exhaustive dialogue, all parties RESOLVED as follows:
1. DAAR Communications Plc. will work out a new realistic payment plan with the National Broadcasting Commission (NBC) and ensure prompt payments in accordance with the new plan;
2. DAAR Communications Plc. will appoint an Ombudsman to ensure balance in its news coverage especially political commentary; it will also take full editorial responsibility for the use of content sourced from social media outlets;
3. Following this NPO statement, The NBC will immediately lift the suspension of the broadcast license of DAAR Communications Plc;
4. DAAR Communications Plc. will withdraw its case in court, against the National Broadcasting Commission (NBC) and;
5. All parties will take necessary steps to work together to build confidence in the public interest.
Very Many Thanks!
Chairman & Editor-in-Chief, THISDAY / ARISE Group,
President , NPO.
NNPC Subsidiary , NGMC , Makes 12bn Profit
The Nigerian Gas Marketing Company (NGMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has announced a profit after tax of ₦12,476,685,000.00 (twelve billion, four hundred and seventy-six million, six hundred and eighty-five thousand naira) for the year ended 31 December, 2018.
This was disclosed at the company’s Annual General Meeting today in Abuja.
A press release by the Group General Manager, Group Public Affairs Division of NNPC, Mr. Ndu Ughamadu, quoted the corporation’s Group Managing Director, Dr. Maikanti Baru, who is also the Chairman of the NGMC Board of Directors, as saying that the company’s performance was impressive considering the challenges it faced in its operations, notably pipeline vandalism.
The GMD who was represented by the Chief Operating Officer (COO), Gas and Power, Engr. Seidu Mohammed, said the company would do everything to sustain the impressive performance, adding that: “We have to expand our portfolio, we are going into the West African market to position ourselves as the best marketer of gas in the sub region”.
He stated that NGMC had already signed contracts with some companies in the Republic of Benin.
On his part, Managing Director of NGMC, Engr. Mohammad Barau, attributed the company’s impressive performance to the support given to it by the NNPC Management which helped to resolve some of its challenges and motivated the company to embark on an aggressive drive for customers, resulting in increased earnings.
The company’s total revenue for the year 2018 was ₦243.630billion compared to ₦275.162billion for 2017.
The decline in revenue was attributed to the move by the electric power generating companies to purchase gas directly from gas producers since June 2018.
The NGMC is mainly engaged in sourcing, marketing and distribution of natural gas to major industrial users and utility companies in Nigeria and the West Africa sub-region.
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