Oil & Energy
SPDC Empowers 45 PLWAs With N6.7m Micro-Credit
In furtherance of efforts to empower Niger Delta youths through business support initiatives, capacity building and employment generation, the Shell Petroleum Development Company of Nigeria (SPDC) has handed over cheques worth N6.7million to 45 persons living with HIV/AIDS in Owaza, Abia State, in a pilot scheme aimed at enhancing the economic potentials of the most vulnerable in the region.
The 45 victims of the dreaded disease, who belong to four cooperative societies under the aegis of the more than 70-strong member God’s Intervention Support Group (GISG), were presented their cheques by SPDC representatives at a colourful launch of the small enterprise development programme for special groups in Port Harcourt, last Thursday.
Speaking at the event, SPDC’s General Manager, Social Performance and Community Relations, Tony Attah, restated the fact that the company has over the years developed and supported several small and medium-sized enterprises, with a view to boosting their economic contributions to societal development while maximizing profit to sustain their livelihoods.
Attah emphasized that hitherto, SPDC had offered healthcare support, treatment and counseling to people living with HIV/AIDS in host communities in the region, saying that the launch of this novel programme was to raise the bar by providing capital to establish new businesses or expand existing ones owned by PLWAs.
The general manager noted that this was a strategic departure from the past when corporate organizations and governments focused on providing healthcare such as anti-viral drugs than economic empowerment, stressing that SPDC was doing this because it “recognizes that there are millions of people willing and capable of living productive lives with the disease.
According to him, “the small enterprise development pilot programme is part of SPDC’s corporate social responsibility contribution to improving small businesses and creating wealth and sustainable employment for groups with special needs”, by identifying business needs of beneficiaries, building their capacity to establish and manage small businesses, providing revolving fund to enable kick-start their own businesses, while also providing mentoring and monitoring services to ensure sustainability.
He implored the beneficiaries of the scheme to make good use of the fund in order to enable them take better care of themselves and their families, usually stigmatized by society, and also contribute positively to community, state and national development, assuring that the SPDC JV, government and other stakeholders were interested in their health and economic prosperity.
Also speaking, Regional Community Health Manager, Dr Babatunde Fakunle, pointed out that in every 100 Nigerians; about 3.8 are estimated to be HIV-positive, adding that the disease was no longer regarded as a medical problem but rather a major social and economic challenge to society.
Fakunle noted that apart from stigmatization and denial of access to family resources, the economic burden of HIV/AIDS include reduction of household incomes by up to 80 per cent, food consumption by 15-30 per cent, and primary school enrolment by 20-40 per cent, saying that i9t was in recognition of this challenge that the economic empowerment initiative was launched for people with special needs in furtherance of the goals of the Niger Delta AIDS Response programme.
He stated that the programme, which began in 2007 under a partnership framework with Family Health International, with the provision of community-based treatment, care and support to persons living with HIV and AIDS in five pilot communities in the Niger Delta covered by five SPDC-supported health centres, has now graduated to economic empowerment of PLWA and thanked the beneficiaries for making this possible.
Nelson Chukwudi
Oil & Energy
NNPC, UTM Seal Deal On First Indigenous Floating LNG Project
Nigerian National Petroleum Corporation (NNPC) and UTM Offshore have signed a Heads of Terms (HoT) agreement for the construction of the nation’s first indigenous floating LNG project.
The agreement, described as a major step towards bolstering Nigeria’s energy security and promoting the utilisation of its abundant gas resources, was signed on July 20, in Abuja.
It covers the 1.5 million tonnes per annum (mtpa) floating LNG project which is seen as a “must-do” initiative for Nigeria.
Signing the agreement, NNPC’s Group Chief Executive Officer (GCEO), Mele Kyari, expressed the company’s readiness to secure gas feedstock towards the project.
Group Managing Director UTM Offshore Ltd., Julius Rone, who described the deal as a milestone achievement, said it showcased the capability of indigenous companies to collaborate with world-class energy conglomerates to drive growth in Nigeria’s energy sector.
Rome further explained that apart from significantly cutting down on gas flaring and supporting the country’s commitment to reducing carbon emissions, the project would also create over 7,000 job opportunities, contributing to the nation’s economic growth and development.
For this project, UTM Offshore awarded the contract for the conceptual design service to JGC Corporation back in 2021.
It would be recalled that in late 2022, the consortium of JGC and Technip Energies secured the front-end engineering and design (FEED) contract.
The project was also supported by $5 billion from the African Export-Import Bank (Afreximbank).
Earlier this year, however, NNPC signed a Memorandum of Understanding (MoU) with Norwegian Golar LNG, an owner and operator of marine LNG infrastructure, to build a floating LNG plant in Nigeria.
Oil & Energy
‘NNPC Spent N15b To Reconstruct Lagos-Badagry Expressway’
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disbursed N15 billion for the reconstruction of the Lagos Badagry Expressway under the Federal Government Road Infrastructure Tax Credit (RITC) Scheme.
The N15 billion represents a 100 per cent payment of the funding of the Lagos-Badagry Road rehabilitation under the tax credit funding of the NNPC Ltd.
Group Chief Executive, NNPC, Mr Mele Kyari, made this known when he led NNPC’s management team with some top government officials to inspect the ongoing rehabilitation and expansion of Lagos-Badagry Expressway (Agbara Junction-Nigeria/Benin Border).
The road under rehabilitation is being funded by the NNPC Ltd. under the Federal Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.
The execution of the scheme is being carried out in collaboration with the Federal Ministry of Works and Housing as the supervisor and Federal Inland Revenue Service (FIRS) for NNPC’s tax obligations deductions.
This is in response to address the plight faced by petroleum products marketers in transportation which affects nationwide distribution.
Kyari said the fund disbursed was part of the N621.24 billion earmarked for the reconstruction of 21 roads nationwide under the scheme.
He expressed satisfaction over the stage of the road development.
“We are covering 1,804.6mkm across the country and taking another set of over a trillion naira investment on infrastructure in Nigeria, believing that with the tax credit system which Mr President has put in place, very soon there will be massive change.
“NNPC as the enabler will consider from its cash flow and fund whatever FIRS and Ministry of works approve for the company”, he said.
The Minister of Works and Housing, Mr Babatunde Fashola, represented by the Director, Highways, Roads and Rehabilitation of the Ministry, Mr Folorunsho Esan, said the intervention of the NNPC sped up the reconstruction of the expressway.
Esan said the project was 40 per cent completed.
“In the next 12 months we should be able to deliver this project because the drainages are in place, just for earth works and pavement works, it cannot take us more than 12 months,” he said.
Speaking on the gridlock being caused by the Lagos-Ibadan Expressway project, he said the contractor would clear all impediments and move out of site by December 15 to make the highway free for Yuletide.
Oil & Energy
Oil Marketers Urge Buhari To Crash Diesel Price

Petroleum marketers under the platform of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) rose from their 2nd National Executive Council (NEC) meeting last week, within a plea to President Muhammadu Buhari to direct the Central Bank of Nigeria (CBN) to make dollars available at official rate to oil marketers.
This, they said, will enable them import diesel, end petrol scarcity, and ultimately save the Nigerian economy from sinking, saying that dollar support should be available till Dangote Refinery comes on stream later in the year.
The association, among others, urged the National Assembly to immediately enact a Bill for the establishment of Energy Bank for easy transaction in petroleum products in the sector.
National President of the Association, Mr Benneth Korie, who briefed the media after the NEC meeting in Abuja, noted that the bulk of the operational challenge peppering marketers and depot owners spring from expensive diesel which hovers around N850/litre.
While thanking President Muhammadu Buhari for approving a higher bridging cost payment to transporters, Korie said the operators’ challenges were far from over as oil marketers and depot owners spend about N20 million weekly on diesel to power their operations, thus eroding their profits.
The association urges the National Assembly to review the policy of taxation as it affects petroleum products supply and distribution chain.
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