Business

Niger Delta: EU Sungas Project To Cost N460m

Published

17 years ago

December 28, 2009

The European Union (EU) has launched a sustainable utilisation of gas and renewable energy resources in the Nigeria Delta Region of Nigeria. The Project, estimated to cost N460 million and tagged EU Sungas is to be funded by the European Union and would be implemented by the United Kingdom based International Institute for Energy Development (IIED).

The Tide gathered that the project seeks to improve access to energy by Nigeria’s citizens from renewable and non renewable sources.

The overall objectives of the project is to contribute to the reduction of poverty and conflict and achievement of the millennium development Goals and the Nigerian government’s goal of National Vision 20/20 by enhancing the potential for Nigeria to resolve its energy crisis using its own energy resources in a sustainable manner.

This project is also in line with the seven-point agenda of the current administration of the federal republic of Nigeria and will contribute to the reduction of the impact of climate change in the Niger Delta region.

The project our source further social would be managed by a group of three national Non Gpvernmental Organisation namely Social Development Integrated Centre, Niger Delta Wetlands Centre and the Living Earth Nigeria Foundation, and International NGO, under the leadership of the UK based IIED.

At the end of the project, it is expected that a reformed policy framework to promote sustainable utilisation of gas flaring for community based electricity provision and energy will be developed. In addition, a community based demonstration project for utilization of flared gas to generate electricity for household and enterprise consumption, support to public services in the target communities and five community based renewable energy facilities. The product would work on scaling up the replicating lessons and successes of the pilot initiatives in order to satisfy the energy service requirements of communities in the Niger Delta.

Business

AMMON Blocks Importation Of 1.5m Meters –Report

Published

49 seconds ago

June 29, 2026

The Tide

The Association of Meter Manufacturers of Nigeria has secured a court injunction halting the procurement of 1.55 million smart meters.

This development is a direct threat to the implementation of the World Bank’s $500m Nigeria Distribution Sector Recovery Programme.

In its latest Implementation Status and Results Report obtained from its website olat the weekend, the World Bank disclosed that the legal action had become the programme’s biggest implementation risk and could force the cancellation of the procurement if the dispute is not resolved soon.

According to the report, the injunction has stalled the opening of bids under the second phase of the International Competitive Bidding process for the procurement of additional smart meters.

“The most significant implementation risk at present is the court injunction obtained by the Association of Meter Manufacturers of Nigeria on April 30, 2026, which has halted the opening of bids for the procurement of 1.55 million additional smart meters (ICB2),” the World Bank noted.

The bank explained that AMMON, representing local meter manufacturers and assemblers, argued that the international procurement framework excluded Nigerian manufacturers and undermined domestic industry development.

It noted that the Transmission Company of Nigeria Project Management Unit had extended the bid submission deadline three times since the injunction, with the latest deadline fixed for June 25, 2026.The report warned that failure to resolve the dispute promptly could have wider consequences for the programme.

It stated, “The team is engaging with government counterparts to find a resolution. If the matter cannot be resolved in the near term, cancellation of the ICB2 procurement may need to be considered to avoid market uncertainty, cost escalation, and further programmatic delay.”

The Nigeria Distribution Sector Recovery Programme, approved by the World Bank in February 2021, is designed to improve the financial and technical performance of electricity distribution companies through reforms, metering and network investments.

Despite the legal setback, the World Bank said implementation under the programme continued to improve, maintaining its “Moderately Satisfactory” ratings for both overall implementation progress and progress towards achieving its development objective.

The report noted that the programme had been upgraded from “Moderately Unsatisfactory” six months earlier, reflecting sustained improvements in implementation.

It added that deployment of smart meters under the first phase of the international procurement had accelerated significantly.

According to the report, as of June 15, 2026, about 1.23 million smart meters had been manufactured, 1.03 million had arrived in Nigeria, while 482,000 had been installed, up from 365,000 recorded during the programme’s mid-term review in April.

“Under the Investment Project Financing component, meter installation under ICB1 has continued to accelerate. As of June 15, 2026, 1.23 million smart meters have been manufactured, of which 1.03 million have reached Nigeria, of which 482,000 have been installed,” the report stated.

The bank added that the programme had so far provided direct electricity access to about 530,000 people under its contribution to the Mission 300 initiative, with the figure expected to rise as installations continue.

It also expressed optimism that the Nigerian Electricity Regulatory Commission’s January 2026 directives on DISREP implementation would further accelerate meter deployment by electricity distribution companies.

The report further revealed that contracts for another 217,000 meters to be procured locally through the National Competitive Bidding process had reached an advanced stage following comments from the Attorney General of the Federation.

It noted however, that the Bureau of Public Enterprises(BPE) had tied the signing of those contracts to the lifting of the AMMON court injunction.

“The NCB contracts for 217,000 domestically procured meters are in an advanced stage of finalisation following receipt of comments from the Attorney General of the Federation. However, BPE has linked NCB contract signature to the vacation of the AMMON court injunction,” it stated.

The World Bank also disclosed that contracts for the Meter Data Management System, delayed since mid-2025, were in the final drafting stage and expected to be executed before the end of June.

Business

Association Woos Govt, Coys On Boat Operators Employments

Published

2 weeks ago

June 12, 2026

The Tide

The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.

The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills

Safety Officer of the Association, Comrade Kingdom Kingsley made this known in a telephone interview with The Tide.

He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island

He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant

“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with sustainable jobs to take care of their immediate needs”

He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.

The Safety Officer called on the state government to made funds available to unemployed youths in the state to start up business than roam the streets.

He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life

“The youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”

“The youths need empowerment, jobs, recreational facilities and better things of life as citizens of this Nation”, Kingsley said.

CHINEDU WOSU

Business

FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

Published

2 weeks ago

June 12, 2026

The Tide

The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.

The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.

The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.

According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.

The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”

She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.

“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.

She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.

Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.

The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.

According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.

In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.

Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.

She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.

Nkpemenyie Mcdominic, Lagos