14082018 - Saraki: Showdown on hold as NASS fails to reconvene

Vanguard, TUESDAY, AUGUST 14, 2018 — 23
Vanguard’s
Electricity watch
Egina FPSO
RECERTIFICATION:
From Left:
Managing Director,
AOS Orwell Mr.
Femi Omotayo,
receiving Emerson's
ICSS recertification
from SanjinBisevac,
(Lifecycle Sales
and Operations
Director, Middle
East & Africa,
Emerson) in Lagos.
$16bn Egina: We'v
e've e laid foundation for economic
growth- Osinbajo
By Ediri Ejoh
THE
Acting
President of
Nigeria, Prof. Yemi
Osinbajo, has expressed
satisfaction over the $16
billion Egina Floating
Production Storage
Offloading (FPSO)
project, adding that the
economy was ready for
more investment.
He made this known at
a visit to Total's Egina
FPSO in LADOL Free
Zone, Lagos. He
explained that the
present administration
has laid the foundation
for the nation's
economy explaining,
"We strongly believe
that the Nigerian
economy must be private
sector lead. This project,
for example, is a $16
billion project in naira
terms, that is about N5
trillion.
"The entire Nigerian
budget is about N9
By Udeme Akpan
THE Nigerian Association
of Liquefied Petroleum
Gas Marketers, NALPGAM
has urged the Federal
Government to remove
Value Added Tax, VAT on
liquefied petroleum gas,
popularly known as cooking
gas in Nigeria.
The association that disclosed
this at its recent annual
general meeting, AGM, also
distributed about 500
cylinders to some residents
of Lagos, stressing that
commercial quantity of the
product will be given out in
other parts of the nation in
order to propagate the use of
cooking gas.
Mr Nosa Ogieva-Okunbo,
president of the association,
explained that cooking gas is
cleaner and cheaper than
other cooking fuels.
He commended the
government for setting up a
committee to look at the issue
of VAT on locally produced
LPG.
Ogieva-Okunbor said the
removal of VAT on the LPG
supplied to marketers by the
Nigerian Liquefied Natural
Gas would attract more
investors and reduce
importation of gas into the
country, which is VAT-free.
...as Total pledges more investment in Nigeria
trillion and our spending
on infrastructure, which
is the largest in the
history of Nigeria is N1.5
trillion. So it tells you
that this project alone is
several times more than
the federal government
spending
on
infrastructure. This is the
story of developed
economies that are
private sector driven, as
there is no way that
government's revenue
can possibly satisfy the
demand."
Also speaking,
Managing Director, Total
Upstream, Nigeria, Mr.
Nicolas Terraz, stated that
the company would
continue to invest in
Nigeria's economy as it
had invested over $10
billion in the last five years.
Represented by Deputy
Managing Director,
Deepwater, Mr. Ahmadu-
Kida Musa, Terraz
explained that Egina,
remained the largest
He said the cost of
purchasing the cylinders
had discouraged many
Nigerians from switching
to cooking gas.
Ogieva-Okunbo stated:
"The association decided
that the best way to
encourage more
Nigerians to convert to
the usage of the LPG is to
give out free start-up
investment currently
ongoing in the oil and
industry, adding, "The
project is expected to be
completed in the quarter of
2018 within the initial
budget of $16 billion.
"The Egina FPSO is a
newly built spread moored
FPSO, and will be
connected through subsea
production systems to 44
wells consisting of 21 oil
producers and 23 water
injector wells via
umbilicals, flowlines and
risers."
"On plans to partner with
the government on zero
gas flaring, the project is
designed such that there
will be no routine gas
flaring during normal
operation as all the treated
gas will be transported
through the existing Akpo-
Amenam pipeline to the
Bonny NLNG plant."
He noted that the project
will add 200,000 barrels of
oil per day to the
production of the country,
NALPGAM AM urges FG to remove e VAT, , gives free cylinders
package. It is significant
to the economy by the
time we hit our target of
about five million people
using the LPG in the
country; it would have a
ripple effect on the
economy and the
environment.
"Today, we started with
about 500 cylinders;
within the next one
representing about 10
percent of Nigeria's
current total capacity.
While lauding the
support received from its
partners, Chairman of
LADOL, Mr. Ladi
Jadesimi, stated that the
achievement of the project
was a pointer to the growth
of local content and
capacity of indigenous
operators.
He said: "LADOL has
demonstrated that there
are talents in Nigeria and
ease of doing business is
very
much
accommodating as well as
encouraging. We have
grown from how we
started in 2001 and have
made Nigeria a hub and
opportunity for
prospective businesses to
come in. We will continue
to grow our capacity and
ensure that more projects
are done in Nigeria order
than encouraging capital
flight."
month, we will go to Epe
because our dream is to
take it to the rural areas.
We are going to the rural
areas so that people in
those areas would start
using the LPG. Between
now and December, we
would do it in four places
in Lagos and every
month, and extend it to
other states."
We need new tec
echnologies to address power
er,
metering challenges - Buhari
By Michael Eboh
PRESIDENT Muhammadu Buhari has stated that Nigeria was in dire need of new
engineering technologies to address its power supply and metering challenges.
Speaking at the 27th Engineering Assembly of the Council for the Regulation of Engineering
in Nigeria, COREN, Buhari, who was represented by the Minister of Water Resources, Mr.
Suleiman Adamu, also emphasized the need for an upgrade in engineering practice in Nigeria.
He said, “Our country is in dire need of new engineering technologies to improve our
infrastructure development. We need to upgrade the quality of engineering practice and
concentrate on the application of modern engineering technology in road construction,
power, manufacturing and housing among others.
“New engineering technologies are also needed to improve services in agriculture,
transportation and power sectors, particularly to revamp our power generation, transmission
and distribution, as well as our metering system.”
He noted that the absence of the requisite infrastructure in most engineering faculties up to
our universities, that complement theoretical teaching with practical knowledge, had created
a wide deficit in the quality of Nigeria’s engineering products.
According to him, of similar concern was the fact that Nigerians are victims of poor quality of
service delivery by poorly trained and unqualified engineers, adding that wherever there
was a collapse of infrastructure anywhere in Nigeria, everyone is left to count the losses.
He said: “Similarly, the absence of up to date engineering curriculum to reflect the current
global trends in engineering, has drastically reduced the competitiveness of our engineers.
There is a deserving gap between engineers trained in Nigeria and those trained abroad.
There is the need for our universities to turn out quality and world grade professionals.”
The president further declared that no society could develop without engineering, noting
that it is his desire to see the development of engineering training and practice in Nigeria and
through it, a better living for all Nigerians.
Source: NCC Daily Operational Report
NNPC GMD, Total DMD, others
set for NAEC Conference
THE Group Managing Di
rector, Nigerian National Petroleum Corporation (NNPC)
,Dr. Maikanti Kachalla Baru , Deputy Managing Director, Total
E&P Nigeria, Ahmadu-Kida Musa, President, Petroleum Club,
Dr. Godswill Ihetu and other industry stakeholders will lead
discussions around emerging issues in the oil, gas and power
sectors at the Association of Energy Correspondents of Nigeria's
(NAEC) Annual Conference 2018.
In a statement signed by the General Secretary NAEC, the
conference will hold at the Eko Hotel and Suites, Lagos, on Thursday
16th August 2018 by 9am. With the theme "PIGB: Emerging
Issues and Concerns".
This year's conference has two panel sessions. The first session
is titled: "Regulatory issues in oil and gas industry." While the
second panel session is titled: "Impact of good governance in
achieving power sector efficiency."
Captains of industry, organised private sector, legislators, as
well as other stakeholders in the energy power sector will be in
attendance. The Keynote address and the Lead paper will be
delivered by the GMD NNPC , Dr. Baru while the Chairman of the
Conference is DMD Total E&P Nigeria ,Ahmadu-Kida Musa.
International Oil Companies (IOCs), independent producers,
managers of the privatized power assets and other stakeholders,
would also be at the conference to proffer solutions to issues to be
discussed.
The conference is expected to provide a veritable platform for
the government and industry operators to rub minds on the
ways to address the energy challenges confronting the country.
Confirmed speakers include: Dr.Godswill Ihetu, President Petroleum
Club, Sen. Omotayo Alasoadura, Chiedu Ugbo, Managing
Director, Niger Power Holding Company of Nigeria, (ND-
PHC), Odien Ajumogobia, Chairman Nigeria Natural Resources
Charter (NNRC), Osten Olorunsola, Chairman, Energy institute
Nigeria and former Director of DPR , Kola Adesina, Group Managing
Director, Sahara Power Group and Femi Olawore, former
Executive Secretary, Major Oil Marketers Association of Nigeria,
MOMAN.
Others include: Prof. James Momoh, Chairman, Nigerian Electricity
Regulatory Commission (NERC); Adeoye Fadebiyi, Managing
Director, Eko Electricity Distribution Company, Dr. Anthony
Youdeowei, Managing Director, Ikeja Electric Plc., Reginald
Odia, Chairman of Economic policy, Manufacturers Association
of Nigeria (MAN), Comrade Francis Johnson, President
of PENGASSAN, Marilyn Amobi, Managing Director, Nigeria
Bulk Electricity Trading Plc and Usman Gur Mohammed, Managing,
Transmission Company of Nigeria.
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