Business

Oil Projects Data Ready In Two Weeks – Board

Published

9 years ago

April 5, 2017

The Nigerian Content Development and Monitoring Board (NCDMB) on Monday said the outlook of upcoming activities across the upstream, midstream, and downstream sectors of the Nigerian oil and gas industry would be out in two weeks
According to a statement by Obinna Ezeobi, the Media Relations Supervisor, NCDMB, in Lagos, the compilation is the key outcome of the Nigerian Oil and Gas Opportunity Fair (NOGOF) concluded on March 31, in Uyo.
It stated that the theme was “Advancing Indigenous Participation in the Nigerian Oil and Gas Industry for National Development”.
“The compendium of opportunities will guide international and local service companies in making strategic investment plans, with a view to maximize the domestication of activities and enhance in-country value retention.
“It will also assist the NCDMB to identify high impact activities with potential for employment generation, training, in-country value addition and revenue retention for support and inclusion in its five-year roadmap.
“This will further cement the sustainability of Nigerian Content Development and implementation,” it stated.
The Executive Secretary of NCDMB, Mr Simbi Wabote, said that the board and industry had made giant strides, especially with respect to developing capacity in-country, upgrade of existing facilities and establishment of new facilities.
Wabote, however, said there had not been an alignment of the capacity being established with the demand and opportunities available.
According to him, instead, companies and investors often acquire assets and facilities to pursue short term opportunities based on trends they see in the industry.
“The regret had resulted in over capacity in some areas where in-country facilities scrambled for available work while there was lack of capacity in some other areas, resulting in exporting of work scopes abroad with the attendant loss of revenue and jobs.”
The objectives of NOGOF include showcasing opportunities in the upstream, midstream, and downstream sectors of the oil and gas industry.
“Present available and planned capacity in-country provide multi-nationals the opportunities to link up and utilise in-country.
“It enables Nigerian companies to tailor their business strategies towards exploiting available opportunities” he said in the statement.
He said that the board had adopted a 100-day target for completing its aspects of the contracting processes in line with the six months contracting cycle time set out by the Minister of State for Petroleum Resources.
Wabote said that recent assessment visits to oil and gas facilities and assets around the country had provided the board’s management with updated knowledge about the scale and size of capacities and capabilities available in-country as well as plans of some service providers to scale up their capacities.
“Similarly, all in-country capacity must be exhausted before approval will be given for procurement of Line-Pipes outside the country.”
The statement said that the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, highlighted the importance of the fair, adding that the outcome would enable service companies in the industry to choose areas of specialisation and prevent overcrowding in certain fields.
According to him, “The greatest problem of the Nigerian space is overcrowding.
Kachikwu also underscored the importance of security to the development of local content and reported effort made to mobilise support around the country for peace initiatives in the Niger Delta, which had started yielding positive results.
Gov. Udom Emmanuel of Akwa Ibom stressed the need for deliberate efforts by government and oil companies to boost local capacity in the industry and enhance security.
According to him, “We have paid lip service to the issue of capacity building over the years.
“We need to transfer technology by building skills development centres in the region.”
The^Chairman, House of Representatives Committee on Local Content, Mr Emmanuel Ekon, commended the board for organising the fair.
He said it was the first time operating companies would inform service companies of projects to expect.
Ekon advised service companies to make good use of the opportunities, stressing that Nigerian Content was for companies that had built capacity and ready to deliver value.

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

1 day 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

1 day 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

4 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