UTM Offshore and the African Export-Import Bank (Afreximbank) have signed a MoU to raise 2 billion dollars for the development of Nigeria’s first Floating Liquefied Natural Gas (FLNG) project. Dr Yahuza Kassim, Principal Consultant for the development of the facility stated in Lagos on Wednesday that the MoU was signed on Tuesday in Abuja. He added that the MoU was signed by Mr Julius Rone, Group Managing Director, UTM Offshore and Dr Benedict Oramah, President and Chairman of Afreximbank. The MoU paved the way for additional collaboration between UTM Offshore and the Afreximbank to support a future Final Investment Decision…
Author: Newsdesk
The African Union on Tuesday called for an urgent end to travel restrictions imposed on some of its member states, saying the measures effectively penalize governments for timely data sharing in line with international health regulations. The measures act “as a disincentive for information sharing in the future, potentially posing a threat to health security on the continent and globally,” the AU said in a statement. Late last month, European Union states, the United States, and Britain, among other nations such as Israel, imposed travel curbs on seven southern African countries after they reported several cases of the Omicron variant,…
Nigerian vice president Yemi Osinbajo says it is worrying that a growing number of wealthy nations have banned or restricted public investment in fossil fuels, including natural gas. The vice president expressed his concern on Tuesday in his keynote address at the World Liquefied Petroleum Gas Association (WLPGA) week-long forum in Dubai, United Arab Emirates. Osinbajo spokesperson, Laolu Akande in a statement, said the theme of forum being held at the Dubai World Trade Centre, is “Energising Tomorrow.” Osinbajo said that the world should not have to choose between energy poverty and climate change as the challenge could be addressed…
Friends of the Earth said a legal challenge to the British government which seeks to block a $1.15 billion financing for a Liquefied Natural Gas (LNG) project in Mozambique will be heard in the High Court on Tuesday. UK Export Finance (UKEF) has committed to provide up to $1.15 billion of direct loans and guarantees to banks to support the design, build, and operation of the $20 billion LNG project led by French energy company TotalEnergies. Friends of the Earth said in a statement that the project was incorrectly judged to be compatible with the Paris climate agreement, without proper…
The African Export-Import Bank (Afreximbank) has moved a step further to provide “African Medical Centre of Excellence (AMCE), a world class health facility in Nigeria for the benefit of all Africans. President of the Afreximbank, Prof Benedict Oramah spoke on Tuesday at the groundbreaking ceremony for the construction of AMCE in Abuja, Nigeria. He said that no fewer than 3,000 Africans travel to Asia and other parts of the world to seek medical services due to lack of standard facilities in Africa. Oramah, who is also the Board Chairman of Afreximbank, reveled that Africans spend more than $5 billion annually…
… NGF also calls for the intervention of the World Health Organisation (WHO) As the travel ban of African countries by the west over Omicron COVID-19 variant continues to attract condemnation, the Nigeria Governors’ Forum has also condemned Canada and the United Kingdom for banning travels into their countries by, especially Nigerians. A statement by the NGF Chairman and Ekiti state governor on Tuesday, Kayode Fayemi described the action of both countries as discriminatory and called for the intervention of the World Health Organisation (WHO). “The Nigeria Governors’ Forum (NGF) wishes to draw the attention of the World Health Organisation…
The Edo state Police Command says it has arrested some students in connection with an attack on teachers at Idogbo Secondary School in Ikpoba-Okha local government area of the state. The spokesperson, SP Bello Katongs who confirmed the arrest on Tuesday in Benin, said that some of the arrested students had been arraigned in court. Students of the school on Friday went on rampage, destroying cars and other facilities in the school. The students also reportedly set some offices ablaze and attacked police officers that were deployed to the school to maintain law and order. A source blamed the crisis on…
The ongoing trial of Abubakar Peters and his company, Nadabo Energy Limited, for an alleged N1.4 billion fraud before Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja could not continue today, December 7, 2021, owing to the absence of the defence counsel in court. Abubakar and his company, Nababo Energy Limited, arraigned on December 10, 2012, are being prosecuted by the Economic and Financial Crimes Commission, EFCC, for allegedly using forged documents to obtain the sum of N1,464,961,978.24 from the federal government as oil subsidy, after allegedly inflating the quantity of Premium Motor Spirit, PMS, purportedly…
… You aren’t anti-graft-corruption agency The Federal Capital Territory, FCT, Council of the Nigeria Union of Journalists, has called the Department of State Security, DSS, to focus on issues of national security and stop harassing its officials. A statement by the council chairman, Emmanuel Ogbeche made available to newsmen on Tuesday, said its officials including himself, Vice Chairman, Osaretin Osadebamwen, Secretary, Ochiaka Ugwu, and Treasurer, Aisha Kadala, were invited to the FCT Command of the Service on December 3 and Tuesday, December 7, 2021, respectively over a petition by a certain Taiwo Abubakar. Abubakar, who the Union said is unknown…
President Muhammadu Buhari has sacked the management of the Abuja Electricity Distribution Company (AEDC) over the strike by the Nigerian Union of Electricity Employees (NUEE). A statement by the media aide of the minister of state for power, Ofem Uket on Tuesday, said the president approved a new interim governing board to oversee the day-to-day operations of the company. “The presidential directives as conveyed also directed the Bureau of Public Enterprises to set up a new management team of the AEDC. “In a memorandum of understanding MOU, jointly signed by the minister of state power Goddy Jedy Agba, the chairman…