Business
Rivers Host First Modular LPG Plants … As FG Commissions Project
The Green Energy and Lekoil Joint Venture (JV) have built a 12-million cubic feet gas extraction plant and 20-megawatts gas power plant at the Otakikpo field in Andoni Local Government Area of Rivers State.
The two key gas and power infrastructure projects, originally developed by Green Energy and Lekoil Joint Venture (JV), marks a significant milestone in Nigeria’s gas sector.
The projects are envisioned to actualize Nigeria’s vision for adopting gas as the transition fuel of choice, and lolespecially as the global discussion of energy sustainability gathers momentum.
Giving highlights of the project, Chairman of Green Energy International Limited, Operator of Otakikpo field, Prof Anthony Adegbulugbe, explained that the inauguration of the twin projects was the realiszation of the firm’s commitment to the federal government to implement a pilot project of the World Bank Gas Flares Reduction Programme (GFRP), based on Small Scale Gas Utilization Programme (SSGUP).
Adegbulugbe explained that the idea was to provide a unique model that ensures oil exploration from the field that not only eliminates gas flares, but ensures that associated gas is monetized through utilisation for domestic gas, power generation and other products in the value chain for the economic advancement of the host communities and the nation generally.
Adegbulugbe, who explained that the field was awarded to Green Energy International Ltd. in 2014 by the Federal Government, however, expressed regret that the project suffered over 20 months of setback with the COVID-19 pandemic which shut down the entire world.
“But by the grace of God, the Joint Venture undaunted by the unexpected set back at a huge cost overrun, rebounded, and by January last year, we started a test run. At completion, the two projects cost the JV over $60million”, he explained.
He added that the installation and operations of the plant was implemented 100 per cent by Nigerian young men and women who cut across a wide spectrum of professional backgrounds with significant number from the Niger Delta and Host communities.
“The workforce are managed by a set of world-class professionals at the board and management levels”, the Green Energy International boss declared.
Adegbulugbe lauded the cooperation of the technical partner, Lekoil Oil and Gas Company, led by the Chief Executive Officer, Olalekan Akinyanmi, saying, “Upon entering into a partnership with us, the company aligned with our vision, and we have jointly achieved this successful outcome”.
Also speaking, the Lekoil boss, said the event marked a significant milestone, not just for Lekoil and Green Energy International, but for Nigeria’s energy future.
He said, “The commissioning of the Otakikpo LPG Extraction Plant and the 20MW Gas-to-Power Project is a testament to the power of collaboration, vision, and unwavering commitment to sustainable energy solutions.
“From the very beginning, our partnership has been anchored on a shared mission to unlock the full potential of the Otakikpo Field, harness our nation’s vast gas resources, and drive economic transformation through reliable power generation.
“What we see here today is a direct result of that synergy. Together, we have demonstrated that when companies align their strengths, expertise, and ambition, we can deliver innovative solutions that benefit not just our stakeholders, but the communities and industries that rely on us”.
He also expressed gratitude to Green Energy International, their partners, the government, and all those who contributed to making the project a reality.
Earlier, the Minister of State for Petroleum (Gas), Ekperikpe Ekpo, while commissioning the projects, said coming on stream of the projects is pivotal for actualising Nigeria’s vision for adopting gas as the transition fuel of choice, especially as the global discussion of energy sustainability gathers momentum.
Ekpo, who commended the joint venture on the initiative, said the mandate of President Bola Tinubu to him was to drive the development of the gas sector in the country, with a dedicated and strategic focus on development of Nigeria’s natural resources (gas), noting that Nigeria ranks eight in the whole world and largest in Africa with 33 percent of Africa gas reserve.
The Minister said, “The creation of the Ministry of Petroleum Resources (Gas) by Mr. President reflects the foresight and wisdom of Mr. President in ensuring a dedicated and strategic focus on development of our natural resources (gas).
“It is gratifying to observe that the joint venture has made significant strides in complying with the provisions of the Petroleum Industry Act (PIA), 2021 particularly your establishment of the distinct midstream entity First Otakikpo Midstream Limited (FOML), to manage the gas business.”
Ekpo assured that the Tinubu-led administration would remain committed to supporting the JV’s aspirations as they continue to expand their investment blueprint within Nigerian gas sector, saying; “Another remarkable and commendable milestone worthy of recognition is the development of the 20 megawatts gas to power generation plant which I understand is being deployed to support your rapidly expanding field operations”.
According to him, the excess power generated from the power plant would be made available to local industries through the establishment of an industrial park targeting agro-allied ventures, small and medium scale enterprises and the surrounding communities.
Lady Godknows Ogbulu
Business
TTP Trains Customs Agents, Freight Forwarders On Eto App
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Business
NECA Holds MSME Fair To Drive Growth
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
Business
Over 2m Passengers Board Blue Rail Train – Commissioner
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos
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