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NNPC Obtains $1.16m USTDA Grant for 1,300MW Gas Power Plant

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By Mathew Dadiya, Abuja

As part of efforts to guarantee energy security for the country in keeping with its mandate, the Nigerian National Petroleum Corporation (NNPC) has secured a grant from the United States Trade and Development Agency (USTDA) to facilitate the establishment of a 1,350Megawatts (MW) Independent Power Plant in Abuja.

Speaking at the signing ceremony of the grant which held on the sidelines of the ongoing Nigeria International Petroleum Summit (N.

I.P.S) in Abuja on Tuesday, Group Managing Director of the NNPC, Mallam Mele Kyari, said the $1.16million USTDA grant would be deployed for the provision of technical, economic and financial analyses necessary for the development of the combined cycle, natural gas-fired power plant to be sited in Gwagwalada, a satellite town of Abuja.

Mallam Kyari stated that the power plant, when completed, would deliver power to the national grid for onward transmission to Nigerians to facilitate industrial growth and reduce poverty in the country.

“We all know that there must be a framework. We all know that there are so many delayed projects in this Industry that have to do with delivering gas to the domestic market for so many reasons. One of them is inability to secure financing and other fiscal issues that we are all familiar with and they have to be resolved. What we have to do is to create infrastructure that will deliver gas to the domestic market and we are already doing that,” the GMD assured.

He informed that NNPC under his watch was committed to providing the necessary infrastructure that would reduce the power deficit and also reduce to the barest minimum gas flaring which impacts the environment negatively.

The NNPC helmsman stated that the corporation had already delivered the Oben-Obrikun and Obiafu (OB3) gas pipelines, expanded the Escravos-Lagos Pipeline System 2 (ELPS 2) with her partners and about constructing the Ajaokuta-Kaduna-Kano (AKK) pipeline which would deliver gas from the OB3 line to Kano.

He added that along that corridor, the plan is for the NNPC to build three independent power plants in Abuja, Kaduna and Kano, stressing that the strategy would enable the debottlenecking of power into the grid to ensure stable power supply.

Mallam Kyari said the construction of the AKK pipeline would lead to the establishment of industries along the route of the pipeline all the way to Kano, noting that the spin-off effect would be prosperity for the people.   

“We know that gas is the cleanest form of energy. We also know that we are flaring some of the gas which we are putting up strategies to stop. By stopping gas flaring, we create wealth, we create prosperity and we have to deliver power to the country. We also know that the focus of the Federal Government is to deliver power to the people as quickly as possible and also deliver gas to our domestic market,” Mallam Kyari submitted.

Earlier, the United States Ambassador to Nigeria, Mary Beth Leonard, said the grant was part of America’s intervention to reduce the power deficit, create jobs and support the expansion of gas infrastructure in Nigeria.

On his part, the Director of USTDA, Tom Hardy, stated that the grant of $1.16million to the NNPC was an American power solution geared towards boosting the nation’s economy.

Managing Director of General Electric (GE) Gas Power System in Nigeria, Mohammed Mijindadi, expressed the readiness of GE to deliver on her mandate.

Highpoint of the event was the signing of the grant documents by the Managing Director of NNPC Gas and Power Investment Company (GPIC), Engr. Husaini El-Yakubu, for NNPC and Tom Hardy for USTDA.

In a related development, the Group Managing Director of NNPC, Mallam Mele Kyari, has restated the commitment of the corporation to deliver sufficient energy for the economic and industrial growth of the nation.

In a presentation at the ongoing Nigeria International Petroleum Summit   (N.I.P.S.), the GMD disclosed that the corporation was doing a lot to ensure national energy security. 

He said NNPC was opening up its operations to allow for transparency and stability that would attract the right kind of investments that would enable it meet the needs and aspirations of its over 200 million shareholders.

Speaking on the much touted global energy transition from fossil fuels to renewable energy, Mallam Kyari said the reality on ground indicates that fossil fuel would remain the main source of energy for a long while, noting that the focus should be on the cleanliness of the fossil fuel rather than the elimination entirely as wrongly projected.

He disclosed that informed perspective and forecast provided by various researchers and Industry analysts indicate that by 2050 the global consumption of crude oil would remain about 100 million barrels per day.

He added that most forecasts indicate that by 2040 renewables would only account for about 20 per cent of global energy needs which means that fossil fuel would continue to deliver at least 70 per cent of global energy needs within the period under forecast.

Mallam Kyari said the NNPC was committed to using the nations vast hydrocarbon resources to add value and create wealth and prosperity for the government and people of Nigeria.

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After Five Months Bello, EFCC Standoff Turns Theatric

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Kogi- tate Governor-Yahaya Bello
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From Joseph Amedu, Lokoja

Former Governor of Kogi State Yahaya Bello yesterday honoured the invitation of the Economic and Financial Crimes Commission (EFCC).

A statement from Bello’s Media Office signed by Michael Ohiare said that the decision was made after due consultations with his family, legal team and political allies.

The statement read, “The former governor, who has great respect for the rule of law and constituted authority, had all the while only sought the enforcement of his fundamental rights in order to ensure due process.

“The case has been before a competent court and Alhaji Yahaya Bello had been duly represented by his legal team at every hearing.

“It is important for the former governor to now honour the invitation of the EFCC to clear his name as he has nothing to hide and nothing to fear.

“The former governor believes firmly in the efforts of the administration of President Bola Tinubu to place Nigeria on the path of sustainable economic development and support the fight against corruption in the country.

“It is on record that he was the first Governor of Kogi State to put in place an anti-corruption mechanism to check graft and ensure that the resources of the state work for the people of the state.

“He was accompanied to the EFCC Headquarters by high profile Nigerians.

“It is our hope that the commission will be as professional as necessary and respect his fundamental rights as a citizen of the Federal Republic of Nigeria.

“Details of his engagement with the operatives of the anti-graft agency will be disclosed later.”

However, EFCC denied that the former governor was in its custody.

The commission, in a statement by its spokesperson, Dele Oyewale said that Bello remained wanted with a subsisting warrant of arrest.

He said, “Media reports today that a former Governor of Kogi State, Mr. Yahaya Bello is in the holding facility of the Economic and Financial Crimes Commission, EFCC is incorrect.

“The commission wishes to state that Bello is not in its custody.

“Bello, already declared wanted by the commission for alleged N80.2 billion money laundering charges, remains wanted with a subsisting warrant for his arrest.”

Bello was declared wanted after the incumbent governor of Kogi State, Usman Ododo helped the embattled former governor to escape arrest in April.

Ododo’s arrival with heavy security at the residence of the ex-governor in Wuse, Abuja prevented the EFCC men from effecting his arrest.

Ododo’s entourage drove out with Bello in the governor’s car.

Since then, it was said have holed up in the Kogi State Government House, Lokoja.

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Alia Hands over Seized Palliatives Truck to EFCC, ICPC in Makurdi

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From Attah Ede, Makurdi

Governor Hyacinth Alia of Benue State yesterday handed over a truck of palliatives he recently confiscated in Makurdi to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) with a charge on them to conduct a thorough investigations bordering on alleged diversion.

The National Emergency Management Agency (NEMA), had on Sept.

11 through the office of the representative of House of Representatives for Kwande/Ushongo Federal Constituency, Terséer Ugbor deployed two trucks of palliatives to his constituency for onward distribution to IDPs and vulnerable households.

However, one of the trucks containing several materials worth millions of naira was confiscated by the state governor.

Our correspondent had earlier reported that the seized truck was conveying assorted relief materials meant for IDPs in the Kwande/Ushongo federal constituency was caught offloading its contents at a private residence around Kilometre 2 in Makurdi.

Further checks revealed that the palliatives, which were loaded from a NEMA warehouse in Jos found their way to a private residence under the directives of Ugbor.

The governor explained that he gave a standing order that the truck be impounded and moved to Government House Makurdi so as to know why goods released from NEMA for distribution to IDPs in Kwande and Ushongo could be offloaded at a private residence in Makurdi.

Alia who spoke at NEMA headquarters upon his return from the United Kingdom expressed displeasure over the discovery of some hidden facts regarding the matter.

He explained that preliminary investigations revealed that the goods were coming from NEMA and were meant to be sponsored by the state government and lifted by the State Emergency Management Agency (SEMA).

In a letter from NEMA headquarters addressed to the representative of the Kwande/Ushongo constituency, Ugbor, who lobbied for the materials, the agency specified that the state government should pay for the expenses of lifting the materials in Jos and that the materials be taken to the state by NEMA and handed over to SEMA.

Alia who discovered that some of the trucks conveying other materials such as mattresses were still missing, directed anti-graft agencies to liaise with a three-man committee from the state and conduct a thorough investigations to uncover more facts.

“It was also discovered that the materials were to be distributed directly to the affected persons by officials from the agency’s North Central Zonal Office in collaboration with the Benue State Emergency Management Agency team.

“I have directed that the Acting Executive Secretary of SEMA, James Iorpuu, officers of the EFCC, and a few others should monitor the situation and ensure that due process was followed and that the materials were distributed to the rightful people.

“I thank President Bola Tinubu for having Benue people at heart. I therefore use this opportunity to call on the National Assembly members to consider the conditions of vulnerable people in their states and ensure that they provide for their constituents whatever the federal government gives,” Alia stated.

The Chief Press Secretary (CPS) to the governor, Tersoo Kula in a statement in Makurdi, said the Director General of NEMA through a phone call, thanked the governor for being vigilant and also promised to continue to collaborate with the state government to ensure the fair distribution of materials coming from the Federal Government.

Similarly, last month, the governor uncovered the diversion of relief materials for an IDPs camp in Makurdi by SEMA officials.

The diverted food items include: 55 bags of rice, 24 bags of garri, Indomie noodles, beans among others.

The Executive Secretary of SEMA was perplexed, wondering how the governor got wind of the development.

Three staff of the agency were arrested in connection with the incident.The IDPs said diversion of relief materials by staff of SEMA was a common happening.

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CBN Appoints New Board for Keystone Bank

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) has reconstituted the board of directors of Keystone Bank.

In a statement by the bank on Wednesday, the move is part of the apex bank’s strategy to ensure sustained growth for the financial institution.

According to the statement, Ada Chukwudozie is the new board chairman alongside five other non-Executive Directors.

They are Abdul-Rahman Esene, Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Senator Farouk Bello.

In addition, the CBN named two new Executive Directors, Ladi Oluwole and Abubakar Usman Bello.

Chukwudozie, a prominent figure in Nigeria’s corporate sector, brings nearly three decades of experience in business strategy, management, and administration.

Her expertise cuts across multiple industries, including De-Endy Industrial Company Limited, Dozzy Group, the Manufacturers Association of Nigeria, and Vogue Afrique Magazine.

Esene, with over 43 years of experience in banking, investment management, and corporate finance, has held leadership roles in major institutions including Fidelity Bank, Afrinvest, and Global Arbitrage International Inc.

Akande boasts over 25 years of experience in legal, compliance, and risk management, having worked with global brands like Cadbury, Stanbic Chartered Bank, and Shell.

Olusoji has a distinguished 30-year career in accounting, finance, and business development, having served at institutions such as Sterling Bank, Access Bank, and Intercontinental Bank.

Samuel with more than 35 years of experience in banking and treasury operations has left a significant mark on Nigeria’s financial sector, previously working with Zenith Bank and Fidelity Bank.

Senator Bello, a seasoned banker with over 20 years of experience, has led initiatives across both the public and private sectors, including the National Assembly and Guaranty Trust Bank.

The two new Executive Directors bring their vast expertise to the table. Oluwole, the new Executive Director of Risk Management comes with over two decades of experience in credit and enterprise risk management, including previous roles at Bank of America.

 Bello, Executive Director for the Northern Directorate has extensive experience managing corporate, retail, and public sector clients.

Speaking on the appointments, Keystone Bank’s Managing Director and CEO, Hassan Imam expressed confidence in the new board members, adding that their wealth of experience would play a crucial role in the bank’s continued repositioning and growth.

“We are pleased to welcome the new chairman, non-executive directors, and executive directors to the board of Keystone Bank.

“We are confident that their extensive experience will be invaluable as we continue to reposition the bank to seize emerging economic opportunities while maintaining strong corporate governance and providing our customers with a secure and reliable banking experience,” Imam said.

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