Business

56 UK, Nigerian Firms Explore Investment Opporunities

Published

11 years ago

August 3, 2015

L-R: Head of Nigerian Content Development, Shell Nigeria Exploration and Production Company of Nigeria (SNEPCo), Austin Uzoka, Director, United Kingdom Trade & Industry, Chris Maskell, British Deputy High Commissioner, Ray Kyles, General Manager, Nigerian Content Development, Shell Nigeria, Chiedu Oba, UKTI Specialist, Sue Whitebread, Director ,Monitoring and Evaluation (NCDMB),Tunde Adelana, at the just concluded Nigeria – UK Suppliers Engagement Programme sponsored by SNEPCo and its Co-venturers.

A total of 100 delegates representing 56 companies from Nigeria and the United Kingdom have said they were collaborating to explore business opportunities for investments that would help boost economic development of both countries.
They said this at the annual Nigeria-UK Supplier Engagement programme organised by Shell Nigeria Exploration Company Ltd (SNEPCo) in conjunction with the United Kingdom Trade and Investment (UKTI).
The event, which held in Lagos on July 30, brought together companies engaged in a wide variety of activities in the oil and gas industry, including engineering, maintenance, fabrication and subsea support services.
Speaking at the summit, Chairman, Shell Companies in Nigeria and Managing Director of the Shell Petroleum Development Company of Nigeria Limited (SPDC.), Osagie Okunbor, observed that: “The striking feature of this year’s business summit is the presence of Nigerians in the Diaspora in the UK delegation. It shows that our engagements with Nigerians to take up opportunities back home in the oil and gas industry is being well received, and this is good news for everybody.”
Earlier in a welcome address, General Manager, Nigerian Content Development, Shell Nigeria, Chiedu Oba, said “Shell has a long-term and continuing commitment to Nigeria, its people and the economy.
“One of the most significant ways we have delivered on that commitment is by increasing the participation of Nigerian companies and individuals in our supply chain and operations – to ensure that as many Nigerians as possible benefit from our activities and business,” he added.
The General Manager, Production PSC, in the National Petroleum Investment and Management Services (NAPIMS), enjoined the participating companies to work towards taking advantage of upcoming opportunities in the Nigerian oil and gas industry.
He reiterated the importance of local content in the growth of the Nigerian oil and gas industry.
UKTI Director, Chris Maskell, thanked Shell for the continued support on the Nigeria-UK Supplier Engagement programme.
The UK delegation, which included Nigerian experts in the Diaspora, who SNEPCo had reached in previous business summits in Aberdeen and London, first met with Shell Companies in Nigeria on areas of need and technical gaps.
The UK delegation also held networking meetings with their Nigerian counterparts, which included several members of the Petroleum Technology Association of Nigeria (PETAN).
Also speaking at a reception organised by UKTI for the suppliers, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Denzil Kentebe, lauded the Shell initiative for fostering partnerships that will help local vendors strengthen their technical capability.
SNEPCo had initiated the Nigeria-UK Supplier Engagement programme in 2009, which had led to some 27 partnerships between Nigerian and UK companies, with another 43 partnership discussions progressing well.
Shell Companies in Nigeria are major contributors to the national economy, not only through the energy they produce and the revenues generated, but also via achievements in supply chain management, and boosting local content and social investment in the country.

Business

Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs

Published

4 days ago

April 10, 2026

The Tide

The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled the plans to host a major economic and investment summit aimed at attracting five billion dollars, ( N7 trillion) investments in addition to creating about 500,000 jobs over the next five years.

The Chairman of NDCCITMA Board, Ambassador Idaere Ogan, disclosed this in Port Harcourt, recently.

Ogan stated that the initiative is designed to reposition the Niger Delta as a viable destination for sustainable economic growth and development.

He explained the summit would bring together investors, policymakers, manufacturers and business leaders from within and outside Nigeria to explore opportunities across key sectors of the regional economy.

According to him, the event is expected to attract high-profile participation, with President Bola Tinubu billed as Special Guest of Honour, while the Prime Minister of Barbados, Mia Amor Mottley, is expected to deliver the keynote address.

Ogan said the summit would focus on critical sectors including agriculture, manufacturing, logistics and the blue economy, which he described as areas with significant untapped potential.

He called on state governments, development partners and private sector stakeholders to support the initiative, stressing that collective efforts are required to unlock the region’s economic prospects.

NDCCITMA chairman further stated that improving security conditions and increasing economic confidence in the Niger Delta have made the region more attractive to both local and foreign investors.

He emphasised that ongoing economic reforms at the national level have also contributed to creating a more favourable investment climate.

Also speaking, the Chairman of the Summit Organising Committee, Dr. Solomon Edebiri, said the event would prioritise the growth of small and medium-scale enterprises (SMEs) across the region.

He noted the summit would provide a strategic platform for networking, business partnership and policy dialogue aimed at strengthening the private sector.

Edebiri disclosed that findings from a recent business roundtable revealed significant untapped investment opportunities, which the summit seeks to harness through targeted collaborations.

He revealed that the event would feature exhibitions of viable projects, facilitate business-to-business and business-to-government engagements, and also promote innovations across multiple sectors.

According to him, the expected outcomes of the summit include job creation, increased industrial activity and improved livelihoods for people in the Niger Delta.

To build momentum ahead of the event, NDCCITMA said the body would embark on awareness roadshows across states in the Niger Delta, as well as in Lagos and Abuja, to attract broad participation.

King Onunwor

Business

NPA Targets N1.489tn Revenue In 2026

Published

4 days ago

April 10, 2026

The Tide

The Management of Nigerian Ports Authority (NPA) has set N1.489 trillion as its Internally Generated Revenue (IGR) target for the 2026 fiscal year.

NPA says the figure represents an increase of N21 billion over the N1.468 trillion target for 2025, which the agency exceeded with an actual revenue of N1.97 trillion.

The Managing Director NPA, Dr Abubakar Dantsoho, stated this during the agency’s 2026 budget defence before the Senate Committee on Marine Transport.

Dantsoho said the authority was set to begin groundbreaking projects for the modernisation of Apapa and Tin Can Island ports to enhance global competitiveness.

According to him, of the projected revenue: N945 billion is allocated for capital projects, N447.5 billion for operating expenses, and

N90.6 billion for remittance into the Consolidated Revenue Fund (CRF).

The MD explained that the budget was anchored on the mantra, “Consolidation, Renewed Resilience and Shared Prosperity.”

Dantsoho said that the modernisation of Apapa and Tin Can Island ports were flagship projects aimed at boosting revenue.

“Apapa and Tin Can Island ports are old and no longer adequate for modern global port operations.

“Apapa Port is about 100 years old, while Tin Can Island Port is over 50 years old, with limited capacity for handling modern vessels and cargo volumes.

“Groundbreaking for their modernisation will commence within the next two to three weeks,” he added.

On the Treasury Single Account (TSA), Dantsoho said all revenues generated by the NPA are paid directly into the account managed by the Central Bank of Nigeria (CBN).

“We do not retain any funds. The Central Bank is the signatory and we must apply for funds whenever needed,” he explained.

Earlier in his remarks,Chairman of the Senate Committee on Ports, Sen. Wasiu Eshinlokun (Lagos Central), said the committee’s oversight function was collaborative rather than adversarial.

“Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest,” he said.

Chinedu Wosu

Business

NPF Disburses ?21.68m To Fallen Heros’ Families …Reinforce Welfare Commitment

Published

4 days ago

April 10, 2026

The Tide

Nigeria Police Force has disbursed a total of ?21,678,120 to the deceased police officers families in Rivers State as part of ongoing welfare interventions by the force.

The gesture formed a major highlight of the activities marking the 2026 National Police Day celebration in the state, underscoring renewed institutional focus on personnel welfare and post-service support systems.

The Commissioner of Police, Olugbenga Adepoju, who presided over the cheque presentation ceremony, said the initiative reflects the Force’s commitment to honouring officers who paid the ultimate price in their line of duty.

He explained that the financial support is designed to cushion the economic burden faced by bereaved families, while also reinforcing confidence among serving personnel about the Force’s long-term welfare structure.

Adepoju conveyed the sympathy of the leadership of the Nigeria Police Force to the beneficiaries, noting that the sacrifices of fallen officers remain invaluable to national security and public safety.

The police boss further stressed that sustained welfare interventions are critical to boosting morale, enhancing productivity, and strengthening institutional loyalty within the Force.

He reiterated that the welfare scheme aligns with broader reforms aimed at repositioning the Nigeria Police Force as a responsive and people-oriented institution.

Beneficiaries of the cheques commended the Inspector-General of Police, Olatunji Rilwan Disu, for prioritising the welfare of officers and their families through consistent and impactful interventions.

They described the initiative as timely and compassionate, noting that it would go a long way in alleviating financial pressures arising from the loss of their loved ones.

The families also acknowledged ongoing reforms under the current police leadership, which they said have strengthened trust, improved service delivery, and enhanced the overall image of the Force.

The Rivers State Police Command reaffirmed its commitment to sustaining similar initiatives as part of efforts to uphold the dignity, sacrifice, and legacy of officers who served the nation with distinction.

King Onunwor