Nigeria, others to mobilise $2bn to finance energy projects across Africa

By
update by Vanguard


By Michael Eboh

The Federal Government, yesterday, disclosed that it is working with other oil and gas producers in Africa, under the auspices of African Petroleum Producers Organisation, APPO, to raise between $1 billion and $2 billion to finance energy projects and boost collaboration among African countries.


•Kachikwu: Hosted APC Northern leaders


Speaking at the Nigerian International Petroleum Summit, NIPS, in Abuja, Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, said APPO members were looking at expanding the role of an existing financing body in the continent, which would be renamed African Energy Investment Corporation to undertake the function of energy financing.

He said, “We are presently looking at expanding the role of a particular financing body we are going to be calling the African Energy Investment Corporation. The whole idea is to mobilise between $1 billion and $2 billion of resources to fund all the essentials necessary for us to properly collaborate.

“Today, most African countries are silos, everybody does their own thing; you build your own refineries, plants, gas turbines etc.  If we could just cross the Rubicon and be able to extend hands of infrastructural relationship across Africa; build joint pipeline, plants and refineries; begin to protect the African market, we would have taken a huge step, not only in the development of Africa, but to the stabilisation of independent countries.

“We have finished that meeting and signed on to resolutions that endorsed all the changes that we have suggested. We are now going to move on the implementation stages.”

Also speaking, Executive Secretary of the Nigerian Content Development Monitoring Board, NCDMB, Mr. Simbi Wabote, warned that if local content is not encouraged in the African petroleum industry, Europe and the rest of the world would, in the next 20 years, witness a massive influx of people from Africa with its attendant crisis.

Nigeria’s crude oil production rises 9%

On his part, Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr.  Maikanti Baru, said an example of collaboration can be seen in Nigeria’s collaboration with Morocco to construct a gas pipeline that would traverse at least 15 West African countries and connect the existing Europe gas pipeline.

According to him, the feasibility study had been concluded and the pre-Final Investment Decision, FID, greenfield optimisation study was currently ongoing.

Source:https://samueljackson12.blogspot.com/2019/01/nigeria-others-to-mobilise-2bn-to.html

Comments

Post a Comment

Popular posts from this blog

Prostitution; Nigerian Women At Growing Risk From Human Traffickers In Germany.

By
Image
According to InfoMigrants, Nigerian women are at growing risk from traffickers in Germany who exploit and engage them in prostitution. Read the full report below by InfoMigrants. The new prostitute protection law in Germany was meant to identify victims of human trafficking – most of them migrant women. More than 18 months after the law came into effect, thousands continue to be targeted for exploitation, and the risk for Nigerian women seems to be increasing. There are campervans parked by the roadside. Some have hearts painted on them, one says “girls, girls” in red letters. It’s an easy matter for someone to stop for a quick transaction in one of these Love-Mobiles – sex with one of the “girls” in exchange for the going rate. Prostitution is mainly legal in Germany, as are these mobile brothels. But many of the women in the business – including those working from the Love-Mobiles – are victims of illegal human trafficking. Most of the women are from Eastern Europe or Nige...
Read more

FULL TEXT: A sacrifice for our new political order – Ezekwesili

By
Image
“When the ACPN leadership approached me in a series of visits to appeal that I run for office on their platform, the party appeared to be a good fit. It was founded by some disgruntled PDP members some years ago, but when its prime founder decided to return to the PDP, a core of its membership refused to move back with him. I was told that they stayed back because of their opposition to the ways of the PDP. Considering my vocal disapproval of the PDP and the APC, I admired the ACPN’s decision to stand firm and refusal to be co-opted.” It has been an interesting one week since I made the tough but necessary decision to suspend my campaign for the presidency. I have been truly overwhelmed by the reactions to my announcement from Nigerians. Even in airports outside the country as I travelled last week, Nigerians walked up to me with questions, concerns, encouragement, and motivation. I also saw disappointment by some who had poured their hearts and hopes into actualising our mission ...
Read more

Update On Slay Queen Who Was Stripped Naked And Tortured Over Missing Phone.

By
Image
The League of Patriotic Lawyers has given Edo State Commissioner of Police, Mr. Olusegun Odumosu, 24 hours to unravel those behind the torture and insertion of pepper into a girl’s private part in Benin City over alleged stealing of a mobile phone.  Chairman of the platform and former Student Union President of the University of Benin, Mr. Abubakar Yesufu, who said this in a statement yesterday, also urged the state Director, Department of State Services, DSS, to be involved in the investigation. A video of the incident, seen by Vanguard yesterday, showed the girl being stripped naked by a group of people, who inserted pepper into her private parts for allegedly stealing a phone. The unidentified girl was heard crying and saying she didn’t steal any phone, while she was being humiliated by the crowd. Yesufu said: “The League of Patriotic Lawyers has given the Edo State Commissioner of Police 24 hours to arrest and commence prosecution of all the street urchins behind thi...
Read more