Connect with us

Oil & Energy

FG To Cancel Mining Licences – Sambo

Published

on

Vice President Namadi
Sambo has announced that government would soon cancel all the licences of under performing miners across the country.
Sambo stated this when the leadership of the Dangote Group, led by Alhaji Aliko Dangote, paid him a courtesy call at the State House, Abuja. He said the licences would be cancelled to attract more serious investors in the mining sector.
The vice president expressed government’s readiness to provide incentives to the private sector in the development of coal mining for electricity generation.
He, therefore, challenged the Dangote Group to take advantage of the opportunities in the nation’s mining sector by investing in the sector.
Sambo commended the Dangote Group for its huge investment in sugar plantation in the country, saying such investment would create employment opportunities to millions of Nigerians.
He reassured that government would continue to provide incentives to the private sector for the development of the Nigerian economy and  congratulated the group on its plan to undertake concrete road projects, saying such projects would address the problems associated with routine road maintenance in the country.
Sambo further assured the group of government’s readiness to partner the private sector on a Public Private Partnership (PPP) arrangement in the execution of capital projects, especially in the areas of infrastructural development.
Speaking earlier, the Chairman of the group, Alhaji Aliko Dangote, announced the company’s interest in the development of the Nigerian mining sector.
He said that high profile mines in Nigeria had been licensed to those that do not possess the requisite capacity to develop them and the time frame given to develop them had since expired and added that the firm had entered into a partnership with Andre de Coulters, one of the leading companies responsible for about 44,000 megawatts of electricity, about a third of Brazil’s power generation capacity.
Dangote further said that the group had acquired about 260,000 hectares of land to develop sugar plantations in Adamawa and Taraba.
According to him, plans are under way by the group to acquire more land in Bauchi and Yobe states for sugar plantation  upon the completion of the Kafin Zaki Dam.
He noted that about 56,000 hectares of land had also been acquired in Kebbi and payment for compensation to those affected had commenced.
Dangote further disclosed that 50,000 hectares of land were also acquired in Kogi and Kwara for the sugarcane plantation while plans were underway to acquire more in Jigawa and Sokoto states.
According to Dangote, the plantations are planned to produce about 1.5 million tonnes of sugar, ethanol, bio-compost and animal feeds and that the plantations would generate about 360 megawatts, which he said, was above the firm’s requirements.
He said the firm would require about 240 megawatts while the remaining 120 megawatts would be transferred to the national grid for distribution to the host communities.

Continue Reading

Oil & Energy

NNPCL Assures On OB3 Pipeline Completion

Published

on

The Nigerian National Petroleum Company Limited (NNPC Ltd) has said the Obiafu-Obrikom-Oben (OB3) Gas Pipeline would now be completed next quarter.
This is as the national oil company said it would continue to invest in the development of huge oil and gas infrastructure to make it easy for operators and prospective investors to carry out their business in Nigeria.
The Executive Vice President, Upstream, Oritsemeyiwa Eyesan, disclosed this at the Offshore Technology Conference (OTC), in Houston, Texas, United States of America.
Speaking at one of the panel sessions of a luncheon organised by the Petroleum Technology Association of Nigeria (PETAN), with the theme: “Sustainable Energy Solutions for Africa’s Future (Nigerian Perspective)”, Eyesan stated that NNPC Ltd.’s objective was to ensure that there is a healthy balance of energy sources in the country.
She explained that though the oil and gas sector is not where it ought to be, much progress had been made between last year’s edition of the OTC in terms of opening up the sector for investments and infrastructural development.
While identifying funding as the major challenge impeding the development of the sector, Eyesan listed some of the bright spots in the industry to include the Executive Orders signed by the President to open up the sector, the imminent resolution of the assets divestment by the International Oil Companies (IOCs), and the aggressive execution of gas infrastructure projects such as the OB3 Gas Pipeline, which she said would be completed in the next quarter.

Continue Reading

Oil & Energy

TotalEnergies Targets 100 Startups In 2024

Published

on

As part of its support to businesses in Nigeria and Africa,  TotalEnergies Nigeria has launched the 2024 edition of its Startuppers challenge.
By this, the multinational aims at empowering 100 businesses across 32 African countries with N8 million cash prize, personalised coaching, and media representation.
The year’s edition of the challenge, launched virtually at an event attended by the Managing Director of TotalEnergies Nigeria Plc, Dr. Samba Seye, and other executives of the energy company, Last Thursday, would be used to commemorate the 100th anniversary of the multinational.
Presenting the form of this year’s competition, the General Manager, Total Country Service, TotalEnergies, Mrs Adesua Adewole, said registration for the challenge would open on May 13th and close on June 18th, 2024.
Adewole explained that 100 startups would be selected at first before 5 finalists would be selected, adding that the shortlisted businesses would pitch to a jury made of experts who would select winners across three categories.
“In December, we will have 100 businesses to celebrate in Africa. In past edition, we had  only six winners who were invited to Paris but this year, we will have 100 winners who will be going to selected location where they will be celebrated”, she said.
Adewole stated that Africa was special to TotalEnergies, hence the focus.
In her words, “Africa is special to us. When you look at Africa, our youths make up 60%.  They are the ones who will develop he continent, so we streamlined this to them to help them develop their businesses or ideas, scale up and become the business leaders of tomorrow.
“The aim of this 4th edition is to support and encourage young African entrepreneurs to innovate and bring their projects to reality in their country of application”.
Explaining further, the Country Communications Manager, TotalEnergies Nigeria, Dr Charles Ebereonwu, said “we have not attained 100 years before.
“Apart from celebrating 100 years, we have introduced new dimensions like your empowerment of women and equality. All entries will be subjected to whether they take into consideration these dimensions”.
Targeted by the challenge are startups less than three years old or pioneering a business idea with a positive impact on their communities and/or the planet.
“The aim of this 4th edition is to support and encourage young African entrepreneurs to innovate and bring their projects to reality in their country of application”, a statement from the firm said.

Continue Reading

Oil & Energy

TCN Targets Power Restoration To North-East, May 27

Published

on

The Transmission Company of Nigeria (TCN) has said electricity supply will be fully restored to the North-East by May 27.
TCN’s spokesperson, Ndidi Mbah, who disclosed this in a statement made available to newsmen, weekend, said the commission’s contractors were working to erect four new transmission towers along the Jos-Gombe axis, to enable the restoration of power supply to States in the North-East region of the country.
Recall that TCN had on April 23, said four of its towers along the Jos–Gombe 330 kilo volt (kV) transmission line were vandalised, affecting electricity supply to Gombe, Damaturu, Maiduguri, Yola, Bauchi, and Jalingo.
“The tower collapse affected Gombe, Damaturu, Maiduguri, Yola, Bauchi and Jalingo. Immediately after the incident, however, TCN engineers worked first to redistribute available bulk supply on the Jos, Bauchi, Gombe 132kV line between Jos and Yola Discos, while work commenced immediately at reconstructing the four vandalised towers”, the commission said.
It continued that “Presently, we are rebuilding the four towers simultaneously. Progress is evident, with one tower nearing 80% completion, another at 60%, a third at 30%, and dismantling work finished on the fourth tower”.
Additionally, she said, “tower members” are being fabricated and assembled on-site to expedite work, adding that TCN is dedicated to the quick restoration of bulk power on the line route.
“Construction work on the Jos – Gombe transmission line, taking supply up to Damaturu and environs will be completed and energized by the 20th of May, 2024, while the Damaturu – Maiduguri axis will be completed on the 27th of May, 2024.
“Expectedly, bulk power transmission would be fully restored on the affected 330kV transmission line by the 27th of May. Yola and Jos DisCos would also be able to offtake and distribute optimally from TCN substations.
“For now, only 38MW is wheeled to both Jos and Yola Distribution companies, with each receiving 19MW each. Efforts to take some of the available power to Jalingo was hampered by very high voltage on the line, which could cause a system disturbance”.
According to the spokesperson, TCN is aware of the inconveniences caused by the current insufficient power supply through Yola and Jos DisCos to electricity customers in the affected states.
Mbah further said the company pledged to earnestly expedite work on the towers to guarantee that the towers are completed within the specified time frame.

Continue Reading

Trending