Business

FG Moves To Revive Brass, Olokola LNG Projects

Published

7 years ago

August 6, 2018

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, last weekend, disclosed that the Federal Government would be engaging with management of the Nigerian Liquefied Natural Gas Company, NLNG, on the feasibility of the company acquiring stakes and driving the revival of Brass LNG and Olokola LNG.
This was even as the NLNG disclosed that as part of its 30-year initiative, it is targeting an investment of N3 billion annually in Bonny Kingdom to drive development in the community and transform it into a notable tourist and relaxation destination.
Speaking during a visit to the NLNG plant complex in Bonny Island, Kachikwu allayed concerns that the forthcoming elections would derail the Train 7 project of the NLNG, explaining that the Federal Government would provide the much-needed support to ensure the company, which had always remained insulated from politics, achieve its goal.
He advised the NLNG to avoid complacency, get out of its comfort zone and make investments, or mobilize resources and investors for the successful take-off of the Brass LNG and OKLNG projects.
Brass LNG was initiated in 2003, but had remained in planning stages several years, while the foreign investors in the proposed investment had all pulled out. OKLNG on the other hand, was initiated in 2005, but is on the verge of death, as all the investors had pulled out and the government is considering scrapping the project.
He noted that revival of the two LNG projects would help create about 5,000 jobs in peak periods and almost 3,000 jobs in normal periods.
He said: “The NLNG have been fantastic in terms of its comfort zone. You probably can give them a 100 per cent in terms of their own performance. But I am saying that the world is bigger than this island. We have opportunities that are stranded everywhere, Brass LNG, in terms of shareholding, financing; OKLNG, in terms of getting off the ground.
“I would like to see NLNG get out of its comfort zone over the next 30 years. Different from Train 8 and nimble investments in smaller fields, how about Brass LNG and OK LNG? Why must you not be the parents of those types of investments? Even if it is just to harness the potential investors because of the clout and respect you have in the international financial community.
“I like to see you hand-hold some of those projects, even if it is little investments you have as a collective. You need to go from the whole, to a smaller collective and to drive the process,” he said.
Kachikwu further stated that the Federal Government would be reaching out to the NLNG, not seeking to compel it, but enter into a collaboration with it to see what could be done and how government can learn from what they have done well to drive the process of revival and completion of the two LNG projects.
He said: “I am saying as the grandfather of this business, the NLNG have built six trains, looking at seven; hopefully, potentially more, let us begin to look at where through minimal investments, through structures and designs, reconfigurations and expert advice, you can actually hand-hold some of those trains that are beginning to lag behind, so that the whole founding fathers’ concept of taking this all over the place happens.”
The minister added that the Federal Government is going to set up an inter-ministerial task team to engage with the NLNG on ways to increase consumption and drag down the price of Liquefied Petroleum Gas, LPG, also known as cooking gas, ensuring that locally-produced LPG is cheaper than its imported counterpart.
Also speaking, Managing Director/Chief Executive Officer of the NLNG, Mr. Tony Attah, expressed optimism that with the support and full backing of the Federal Government, the company is poised to ensuring that Train 7 becomes a reality. In his presentation to the Minister’s team, comprising the Permanent Secretary of the Ministry of Petroleum Resources, Mr. Folashade Yemi-Esan; Executive Secretary of the Nigerian Content Development Management Board, NCDMB, Mr. Simbi Wabote, among others, General Manager, Production of the NLNG, Mr. Tayo Ogini said the planned Train 7 holds immense potentials for Nigeria. According to him, Train 7 would bring about a 35 per cent growth in Nigeria’s LNG output, create 8,000 jobs, build capacity for small scale LNGs and increase domestic LPG supply to about 0.5 million tonnes per annum.

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

2 days ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

2 days ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

5 days ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi