General
Temile, Hyundai LPG Vessel Construction Deal Thrills NCDMB
By Adedapo Adesanya
An indigenous shipping company, Temile Development Company, has signed a contractual agreement with Hyundai Mipo Dockyard (HMD) for the construction of a new 23,000 cubic meters Liquefied Petroleum Gas Carrier (LPG) Vessel.
The Nigerian shipping firm also sealed a separate deal with an integrated maritime services subsidiary of Nigeria LNG Limited, NSML, for the supervision of the project.
The LPG vessel is the second that is being constructed by the Temile Development Company and is a sequel to the first vessel which was constructed in 2018 and is currently chartered to Nigeria LNG Limited for domestic LPG supply.
This development has sweetened the Nigerian Content Development and Monitoring Board (NCDMB), which has expressed its excitement over the involvement of local companies in boosting gas development in the country.
The Executive Secretary of NCDMB, Mr Simbi Kesiye Wabote, saluted Temile Development Company for its bullish initiative in investing in an area that is regarded as off-limits for local players.
In a video message delivered during the signing ceremony held on the sidelines of the 2022 World Gas Conference in Daegu, South Korea, he described the accomplishment as evidence of significant growth in the capacity and confidence of local companies to play in the international arena and in complex areas of the oil and gas industry.
The new 23,000 cubic LPG/NH3/VCM Carrier to be constructed is a high-end specification vessel that has been designed by NSML in accordance with bespoke requirements using HMD’s highly efficient eco-design. The new LPG carrier is expected for delivery on July 26, 2023, at HMD in Ulsan, Korea.
Mr Wabote indicated that the agreement signing event and subsequent construction and supervision of the contract align with the board’s strategic plan of maximizing the potential in the Midstream and Downstream Sectors of the Nigerian oil and gas industry, especially as the oil and gas industry strives to actualize the Decade of Gas policy of the Federal Government.
According to him, “this project clearly supports our LPG penetration initiative in Nigeria and will further close the gap in LPG penetration in Nigeria.”
He stated further that the project will bring invaluable local content opportunities in technology and innovation, human capital development and research and development.
Speaking further, the Executive Secretary commended Hyundai for the work it was doing at the Brass Shipyard and other investment projects in Nigeria that will support the repair of vessels.
He also applauded NLNG for the strategic initiative of deploying 100 per cent LPG to the local market to close the gap in respect of LPG penetration in-country, adding the company has helped in reducing cost as well as creating a cleaner source of energy for our people.
On his part, Mr Temile’s Chief Executive, Mr Alfred Temile said “We are delighted to execute the construction of our new LPG carrier with HMD, bringing onboard NSML to supervise the construction, as an indigenous company this demonstrates our commitment and support to the Nigeria Local Content Act and as well establishes our confidence in local capacity to deliver international acceptable standards.
“Having taken delivery of our first LPG carrier vessel which is currently chartered to Nigeria LNG Limited for domestic LPG supply, we look forward to taking delivery of this new carrier in July 2023 to make an addition to the global gas supply industry.”
He added that “working with HMD again makes us feel in very safe hands as we are confident that this eco-design / cleaner fuel vessel shall be constructed in line with international best practices and industry regulations thereby creating a space for the vessel in the international gas supply value chain.”
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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