Connect with us

Business

Transcorp To Revive Moribund Gas Fields In N’Delta

Published

9 years ago

on

Rivers State Deputy Governor, Dr. (Mrs) Ipalibo Harry Banigo, flanked by President, Port Harcourt Chamber of Commerce, Industry, Mines & Agriculture(PHCCIMA), Dr. Emi Membere-Otaji, unveiling the Commerce Port Harcourt Magazine at the Obi Wali International Conference Centre, Port Harcourt.

Rivers State Deputy Governor, Dr. (Mrs) Ipalibo Harry Banigo, flanked by President, Port Harcourt Chamber of Commerce, Industry, Mines & Agriculture(PHCCIMA), Dr. Emi Membere-Otaji, unveiling the Commerce Port Harcourt Magazine at the Obi Wali International Conference Centre, Port Harcourt.

The Chairman, Transnational Corporation of Nigeria (Transcorp), Mr. Tony Elumelu  says the company is ready to take over and revive some moribund gas fields in the Niger Delta region.
Elumelu made this known in an interview with newsmen on the sideline of Transcorp’s 10th Annual General Meeting in Calabar, yesterday.
He said that the company had commenced discussion with NNPC in this regard.
According to him, the project aims to realise the company’s objective of improving the country’s economy while also making profit.
“We are not relenting. We are in discussion with NNPC to see whether we can take over and run the idle gas plants. We have the capacity to do this.
“Our thinking is that instead of having these moribund gas fields in the Niger Delta lie idle, let some power generating companies that have the resources such as Transcorp Power, take them over.
“We can revamp them, produce gas and use it to improve our power generation and get the country realise its present target of 10,000 megawatts of electricity,” he said.
Elumelu said that Transcorp Power was poised to improve access to electricity in the country and ensure that small and medium scale industries had the capacity to produce more and boost the economy.
“Power generation and consumption is a problem in Nigeria today and if we can improve electricity generation, that will help to check the shortfall and boost the economy.”
The chairman noted that the poor performance in the power sector had affected Transcorp’s operations.
According to him, the company needs no fewer than 300 megawatts of electricity daily.
On the company’s performance in 2015, Elumelu said that while the company’s earnings declined marginally, it recorded growth in profit and maintained a strong asset base.
“Our total asset is growing at 19 per cent. It grew from N170.8 billion to N202. 9 billion.
“Gross earnings declined marginally by one per cent to N40.8 billion as against N41.3 billion in 2014.
“But the group’s operating profit grew from N13.6 billion in 2014 to N15.03 billion in 2015, a 10 per cent growth,” he said.

Related Topics:
Continue Reading

Business

Kenyan Runners Dominate Berlin Marathons

Published

5 days ago

on

September 22, 2025

By

Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

Continue Reading

Business

NIS Ends Decentralised Passport Production After 62 Years

Published

5 days ago

on

September 22, 2025

By

The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
Continue Reading

Business

FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

Published

5 days ago

on

September 22, 2025

By

The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
Continue Reading

Trending