The Nigerian Liquefied
Natural Gas (NLNG) on Thursday initiated a finance scheme which would enable contractors and vendors to access 1 billion U.S.-dollar credit from five banks.
The Managing Director of NLNG, Mr Babs Omotowo, made this known in Port Harcourt when he signed a Memorandum of Understanding (MoU) on the scheme with representatives of the banks.
The banks are Access Bank, First Bank, Standard Chartered Bank, United Bank of Africa and Zenith Bank.
Omotowo said that the credit would enable NLNG registered contractors and vendors to speed up delivery of goods and services to the nation’s oil and gas industry.
He said that the scheme was part of the Nigerian Oil and Gas Industry Content Development Act of 2010, which encouraged the full participation of local companies alongside foreign companies.
“Banks in Nigeria often find it challenging acceding to loan applications from local contractors with little or doubtful assurances of repayment.
“Local enterprises which have little track record, credit history or illiquid collateral are often refused finance because banks perceive them to be risky.
“Today, NLNG is taking a major step in bringing both potential lenders and borrowers together to bridge the financing gap that exists locally.
“This scheme will alleviate funding challenges of vendors, reduce operating costs, improve project delivery timeline and drive the growth of Nigerian vendors.
“The success of any local contractor will also benefit larger and smaller businesses around it and this will contribute to the nation’s economic growth,” he said.
Omotowo said that the Federal Government’s Gas Master Plan, NLNG Train ‘7’, and Brass LNG, on completion, would create thousands of jobs for Nigerians.
He noted that the Train ‘7’ project would particularly create economic opportunities for local companies, while addressing the nation’s capital and infrastructural challenges.
Omotowo called on the beneficiaries and banks to strictly transact business in line with the laid-down rules so as to guaranty the success and sustainability of the scheme.
MOSIEND Threatens ExxonMobil Operations Over N82bn Court Judgement
The Movement for the Survival of Izon Ethnic Nationality in the Niger Delta, MOSIEND has issued the American oil firm, ExxonMobil, 14-days ultimatum to pay the N82 billion awarded against them by the Federal High Court, for damaging the environment of her host communities in Ibeno, Akwa Ibom State or have her operations disrupted.
Vice-Chairman, MOSIEND, Akwa Ibom chapter, Mr. Patrick Afaiko, who gave the ultimatum said it will not fold it hands to watch the company carry-out its clandestine and habitual manner of damaging the environment without adequate compensation.
Afaiko noted instead of paying the N82bn compensation to Ibeno communities that were affected by oil spillage, ExxonMobil has gone ahead to appeal against the High Court judgement.
He observed that rather than assuaging the damage done to the people and the environment, ExxonMobil has choosen to spend huge sums of money going from one court to the other in order to subvert justice.
“ExxonMobil has appealed against the judgment of the High Court which directed that it should pay N82bn to communities in Ibeno LGA and environs that were affected by its oil spillage some years ago.
“It is more saddening to note that ExxonMobil rather than paying for the great damage it had done to our aquatic life, choose to spend all that sum going from one court to another.
“It is glaring the insidiousness of ExxonMobil for its inapproachable disposition depicted in the wanton sack of workers who are now indigents and the keeping of all major contracts and sharing same amongst its executives is insensitive, ruthless, oppressive and treacherous, as can be seen in all its policies and activities towards the host communities and catchment areas over the years.
“It is based on these and more that MOSIEND in its decisive resolution agreed never to fold its hands and watch ExxonMobil proceed with its habitual and clandestine manner of damaging our land and aquatic life without quantum compensation”.
MOSIEND warned that after the expiration of the ultimatum on the 8th of August, 2021, it will mobilise its units, clans, chapters, national and sister ethnic organisations including militants to shut down ExxonMobil operations at Eket Terminal.
“ExxonMobil should, as a matter of concern, abide by this order to avert the unforeseen consequences of actions that will follow. MOSIEND will not tolerate this callousness anymore. We want to use this platform to urge all local and foreign workers to vacate the terminal for their own safety. He who is down, fears no fall. We can no longer stomach their devilish treatment.
“We are also calling on Governor Udom Emmanuel, Minister of State for Petroleum Resources, Chief Timipre Slyva; past ministers for Petroleum Resources, Dr Ibe Kachikwu and Mr Odein Ajumogobia, who have strong ties with ExxonMobil to prevail on the company to as a matter of urgency, engage the Local Government, the King and good people of Ibeno for discussions and prompt payment of compensations, rather than hiding under the cover of judiciary to avert justice and fairness which is a sinequanon for peace.
“ExxonMobil ought not to be operating and making profit while the affected indigenes suffer untold hardship due largely to the reckless and unprofessional conduct of their staff, causing misfortune, hence, leaving the casualties redundant and jobless for years, not even some sort of palliative to cushion shock and agony of the victims.
“ExxonMobil will be held responsible for any consequences that will arise from the actions. We will apply all conventional and unconventional strategies to drive home our demand. The Niger Delta people have been taken for granted for too long, this multinational has been taking our patience, tolerance and cooperation for granted”, MOSIEND.
Shell Unveils First Female Managing Director For Deep-Water Nigeria
World energy giant, Shell, has named Elohor Aiboni as the Managing Director of its Nigeria deep-water business, Shell Nigeria Exploration and Production Company Limited (SNEPCo) with effect from 1st August 2021.
Elohor is the first female to lead a Shell exploration company in the over 60 years of Shell’s operations in Nigeria. She succeeds Bayo Ojulari who retired on 31st July 2021 after five years as SNEPCo’s MD and over 30 years of service in the Shell group.
Until this appointment, Elohor was the Bonga Asset Manager responsible for overseeing end-to-end production delivery for Nigeria’s pioneer deep-water Floating Production, Storage and Offloading (FPSO) vessel, Bonga, an offshore asset that has produced over 900 million barrels of oil since it began operations in 2005.
“Elohor’s appointment is a product of diligence, competence and commitment to the Shell ideals and core values amidst our strong focus on diversity and inclusion,” Shell’s Senior Vice President for Nigeria, Marno de Jong, said, adding: “We take pride in our intention of being one of the most diverse and inclusive organisations in the world, and focus on further improving inclusion and representation in critical areas including gender.”
Elohor joins over 300 women in senior leadership positions in the Shell Group representing more than 31 percent of executive positions in the leading global energy company.
Her 19-year career in Shell has seen her move from a field engineer to several roles in production operations; project and asset management; operations readiness and assurance. She was at a time the Business Adviser to the Executive Vice President for Shell Sub-Saharan Africa, and had also managed third-party interface across several Shell assets in Nigeria and Kazakhstan.
Prior to her role as Bonga Asset Manager, Elohor led production delivery for shallow offshore as Asset Manager for Sea Eagle FPSO in Nigeria’s Niger Delta.
Elohor holds a master’s degree in Integrated Environmental Management from the University of Bath, UK and a bachelor’s degree in Chemical Engineering from University of Benin, Nigeria.
IPMAN Makes Case For East-West Road Completion
Following the recent blockade of the Eleme-Akpajo axis of the East-West Road by youths in Rivers State, the Independent Petroleum Markers Association of Nigeria, (IPMAN), has enjoined the Federal Government to accede to the demands of the protesting youths on account of the deplorable state of the said road.
The youths stated that the importance of the Eleme-Akpajo section of the East-West Road cannot be over-emphasised as it plays host to several multimillion dollars investments such as the Oil and Gas Free Zone, Onne, Nigeria Ports Authority (NPA), Port Harcourt Refining Corporation(NNPC), Indorama Petrochemicals Limited, Eleme among others.
Chairman of IPMAN in Rivers State, Dr. Joseph Obele, in a chat with newsmen, lamented that petrol tankers have not been able to load products at the Port Harcourt refinery since the protest began, last Monday.
According to him, “Yes the road is very bad, we are calling on all the relevant authorities to mobilise contractors to commence construction work on the road, because the youths have said they won’t leave the road until they see construction equipment on site. The protest is affecting us in the petroleum sector. Since Monday we have not been able to load”.
Meanwhile, leader of the protest and President of Ogoni Youth Federation, Lergbosi Yamaabana, has vowed that the protest will continue until tractors and caterpillars were seen on site, noting that the aim of the protest was to cripple economic activities, especially multi-million dollars investments in the area, until their demands were met, adding that government reacts only to forceful agitations.
He said, “we are still here like we promised, we are not leaving here until Federal Government will mobilise contractors handling the road to site in view of reconstructing the entire stretch of the road together with all the four bridges that have been demanded for, that is our resolve.
“I want to address the government at this point that the more they keep quiet, the more we are strong. If they know what is good for them they should mobilised contractors to site.”
Recall that youths in Rivers State since last Monday, blocked the Eleme-Akpajo axis of the East-West Road with petrol trucks and other articulated vehicles demanding the immediate reconstruction of the deplorable sections of the road by the Federal Government.
By: Tonye Nria-Dappa
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