Economy
NCDMB to Complete Second Bayelsa Oil and Gas Park July
The Nigerian Content Development and Monitoring Board (NCDMB) has commenced the construction of phase two of the Nigerian Oil and Gas Parks Scheme (NOGAPS) situated in Emeyal-1, Ogbialand, Bayelsa State.
At a townhall meeting last week, Executive Secretary of NCDMB, Mr Simbi Kesiye Wabote, said the 25 megawatts independent power plant (IPP) being constructed in partnership with the Nigerian Agip Oil Company (NAOC) will supply electricity to the park and other dedicated facilities when completed in July 2019.
He explained that the contract for new phase of Bayelsa NOGAPS was approved by the Federal Executive Council, which underlines President Mohammed Buhari’s commitment to ensure comprehensive development of the Niger Delta region, spur the incubation of manufacturing of oil equipment in-country to generate employment for young people.
He stated that the main purpose of the townhall meeting was “to formally inform stakeholders that we have secured Federal Government’s approval to award the contract for the construction of roads and drainage system in furtherance of the development plan of the industrial park.“ The new phase of the project would include the construction of pavements, walkways, parking lots, concrete-lined drainages, service ducts amongst others, he said.
Mr Wabote thanked the community stakeholders for the success so far recorded in the first phase of the project, adding that “it is due to the support so far received on the sand-filling and fencing works that gives us the confidence to continue to the next phase of the project development.”
He underscored the need for continued support of the stakeholders as the project is meant to bring progress and jobs to their area.
He added that “I expect utmost cooperation from all as you play your roles and be part of history that will place your community on the map of oil and gas manufacturing activities. Such roles include checkmating any individual or group that wants to derail this wonderful opportunity from coming to fruition in your community.”
The Executive Secretary confirmed that O.K. Isokariari & Sons won the bid for the 2nd phase of the NOGAPS project and canvassed for maximum support for the contractor to enhance timely completion of the project.
He stated that the contract made provision for hiring of a minimum of 80 percent of all ‘unskilled labour’ from the host and immediate communities for the project execution, a minimum of 50 percent of the semi-skilled and 20 percent of the skilled labour requirements, except where there is no response from the communities to such advertised positions.
The NCDMB boss also indicated that community suppliers would participate in the supply of sand, granite, water, fuel, and other construction supplies to be determined by the contractor and they would be subject to the quality required and fair market price.
He charged the contractor to ensure safety and security at the site and promote cordial and harmonious relationship with the communities. The firm is also expected to deliver on time, within budget and to the specified quality. “We have there two cardinal objectives in this project. The first is to maximize the participation and employment of persons from the communities in the project. The second is to ensure that the project is successfully completed on schedule.”
Further scopes lined up for the development of the 25 hectares industrial park include the provision of electrical and water utilities, warehouses, manufacturing shop floors, factories, capacity building centre, hostels, administrative block, mini estate, security posts, fire station, and other facilities.
Providing insight on the NOGAPS concept, the Executive Secretary stated that the oil and gas park “fits perfectly into our mantra to domicile and domesticate oil and gas activities in-country. A key benefit to highlight is that about 2,000 jobs are projected to be created when this park is in full operation in addition to serving as capacity development center and on-the-job training hub for our youths. There is no doubt that this project will positively impact Bayelsa State in general and the Ogbialand/ Emeyal-1 community in particular.”
The Obanobhan 111 of Ogbia Kingdom, King Dumaro Charles-Owaba suggested the setting up of a monitoring committee to be composed of representatives NCDMB and the community stakeholders, which would liaise with the Board and the contractor as well as provide members of the communities updates on the project.
Other stakeholders who spoke at the meeting promised a conducive environment for the project while imploring the contractor to avail them ample opportunities to participate in the execution.
By Aduragbemi Omiyale
President Bola Tinubu has called on investors to collaborate with his administration on the issuance of the third Sovereign Green Bond later this year.
Speaking on Wednesday in the United Arab Emirates (UAE), Mr Tinubu said his government was ready to work with other nations to build a resilient, equitable, and sustainable world for all.
“Our energy transition plans, like many nations, are aimed at diversifying energy sources and reducing dependency on fossil fuels, prioritising the transition to cleaner energy sources as a cornerstone of our national development strategy,” the President said on the second day of the 2025 Abu Dhabi Sustainability Week themed From Climate Imperatives into Economic Prosperity: Bridging Africa with the Global Energy Future.
He called on partner countries to collaborate in mobilising resources to tackle these challenges and embrace innovation and technology.
“To promote a Green Economy in Africa, we must focus on integrating sustainable practices in all sectors of our economy.
“These investments are capital intensive and require international support from partner countries, including multinational organisations, development partners and individuals who share our vision of a sustainable, prosperous and equitable future,” he stated.
President Tinubu said, “Nigeria became the first country in Africa to initiate funding of green projects through Sovereign Green Bond proceeds, the third issuance of which is in progress.
“We urge investors to partner with us in this regard. Our administration remains committed to providing an enabling environment for businesses to thrive in Nigeria.
“By partnering with global leaders and harnessing the power of technology, we are finding new and innovative ways to address our environmental challenges. We have arable agricultural lands for advanced technological farming, including a bright future for Artificial Intelligence.”
He declared that no single nation can walk the road to sustainability alone, stressing that global interconnectedness demands collective action, knowledge sharing, and mutual support.
“The fight against climate change is not merely an environmental necessity but a global economic opportunity to reshape the trajectory of our continent and the global energy landscape.
“As leaders, stakeholders and citizens of our planet, we stand at a critical juncture in human history. To succeed, we must innovate, collaborate and act decisively as one global community,” the Nigerian leader disclosed.
Reiterating his administration’s commitment to reducing carbon emissions, President Tinubu assured the audience that the Nigerian government had developed actionable programmes in line with global expectations, bearing in mind Nigeria’s economic and political expectations.
“We have embraced a vision of sustainability that aligns with global aspirations while addressing local realities. Our efforts are anchored on three pillars: Energy Transition, Climate Resilience, and Sustainable Development.
“My administration recognises the importance of reducing carbon emissions and a just transition to clean and renewable energy, promoting environmental sustainability and economic growth,” he noted.
Mr Tinubu added that Nigeria is developing infrastructure for the widespread use of Compressed Natural Gas and electric vehicles and harnessing the potential in solid minerals to support the green energy transition.
He stressed that his country is also implementing climate-smart agricultural practices to enhance food security and lessen its destructive environmental impact.
These include the introduction of the National Clean Cooking Policy, which aims to promote clean energy, environmental and health benefits, and socio-economic development in the African region.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.04 per cent appreciation on Tuesday, January 14 after the share prices of six stocks on the platform recorded movements.
Business Post reports that the bourse ended with four price gainers and two price losers during the session trading session of the week.
FrieslandCampina Wamco Nigeria Plc lost N2.50 yesterday to finish at N39.50 per share versus the previous day’s N42.00 per share and Central Securities Clearing System (CSCS) Plc dropped N1.15 to wrap up the day at N22.05 per unit compared to Monday’s N23.20 per unit.
On the flip side, 11 Plc gained N25.53 to close at N280.84 per share versus N255.31 per share, UBN Property Plc increased by 20 Kobo to N2.20 per unit from N2.00 per unit, Industrial and General Insurance (IGI) Plc added 10 Kobo to close at N16.20 per share compared with the previous day’s N16.30 per share, and Geo-Fluids Plc gained 10 Kobo to settle at N4.66 per unit versus N4.56 per unit.
When trading activities ended for the day, the market capitalisation went up by N410 million to remain relatively unchanged at N1.061 trillion as the NASD Unlisted Security Index (NSI) inflated by 1.19 points to 3,096.19 points from 3,095.00 points.
The volume of securities traded in the session was up by 28.4 per cent during the session to 3.97 million units from 3.1 million units, the value of shares jumped by 161.8 per cent to N8.3 million from N3.2 million, and the number of deals declined by 16.7 per cent to 25 deals from 30 deals.
FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 3.4 million units worth N134.9 million, Geo-Fluids Plc occupied the second spot with 8.9 million units valued at N43.0 million, and the third position claimed by Afriland Properties Plc with 690,825 units sold for N11.1 million.
IGI Plc ended the session as the most active stock by volume (year-to-date) with a turnover of 23.5 million units valued at N5.3 million, followed by Geo-Fluids Plc with 8.9 million units sold for N43.0 million, and FrieslandCampina Wamco Nigeria Plc with 3.4 million units worth N134.9 million.
By Aduragbemi Omiyale
A pioneering agricultural solutions provider based in Kaduna, Nigeria, NaFarm Foods, has been named as the winner of the food category of the 2025 Zayed Sustainability Prize for its Hybrid Solar Food Dryer.
The company clinched the accolade for its groundbreaking innovation in reducing post-harvest losses, improving food security, and promoting sustainable agricultural practices across Nigeria.
Hybrid Solar Food Dryer was designed by NaFarm Foods to address the critical issue of food spoilage by combining solar heat and electricity generated from solar panels for efficient, all-weather drying of food, even during rainy or cloudy days.
With a capacity of 500kg per unit and the ability to retain the nutritional quality of food while minimising energy costs, the technology has already benefited over 80 communities across six Nigerian states.
By reducing post-harvest losses for over 65,000 farmers, the dryers contribute significantly to food security and rural economic empowerment.
The Hybrid Solar Food Dryer is transforming food preservation by reducing spoilage rates, decreasing greenhouse gas emissions from decomposing food, and lowering reliance on fossil fuels.
With a whole-of-life cost of less than 1 cent per 100 litres, the dryers are accessible and economically viable for smallholder farmers and food processors.
By 2030, NaFarm Foods aims to empower two million farmers and reduce carbon emissions by 50,000 metric tonnes annually.
Business Post reports that NaFarms Foods has won $1 million from Zayed to scale its operations by manufacturing and distributing 100,000 dryers across Nigeria and West Africa.
“We are deeply honoured to be recognised as a winner of the Zayed Sustainability Prize. It signifies global recognition of our efforts to tackle food insecurity and promote equitable and sustainable agriculture in Nigeria and beyond.
“This opportunity inspires us to continue pushing boundaries, knowing that our work is not only transforming lives locally but also contributing to a more sustainable and equitable world. For us, this is more than an achievement; it’s a call to action to drive greater impact,” the chief executive of NaFarms Foods, Ms Fatima Jimoh, said.
The Director of the Zayed Sustainability Prize, Dr Lamya Fawwaz, said, “NaFarm Foods’ innovative approach to sustainable food preservation not only improves food security but also empowers rural communities, particularly women and youth, by creating income-generating opportunities. This aligns with the Prize’s mission to drive progress and improve livelihoods.”
NaFarm Foods plans to expand training programmes to empower an additional 25,000 women and youth, fostering entrepreneurship and sustainable economic growth.
Additionally, it intends to establish distribution hubs and implement advanced cluster mapping systems to ensure technology accessibility and improved marketability of produce.
Each year, the Zayed Sustainability Prize rewards organisations and high schools for their groundbreaking solutions, fostering innovation on global challenges. Over the past 17 years, through its 128 winners, the prize has positively impacted 407 million lives worldwide.
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