By Adedapo Adesanya

Temile Development Company Limited (TDC) has secured a landmark contract with Hyundai Heavy Industries (HHI) for the construction of an 88,000 cubic meter Very Large Gas Carrier (VLGC) as part of efforts to reinforce indigenous participation in the gas value chain.

The $250 million contract, signed in London this week, alongside a construction supervision agreement with NLNG Shipping & Marine Limited, NSML, raises TDC’s cumulative investments in the gas sector to over $450 million in the past four years.

According to the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, described the deal as a significant milestone toward achieving the federal government’s “Decade of Gas” agenda and praised the indigenous firm for its bold financial commitment.

“This project will bring Temile’s total investment to date in the gas value chain to over $450 million in the last four years. This is a significant and strategic financial commitment, reinforcing local participation in a sector critical to our national economic diversification agenda,” Mr Ekpo stated.

The Minister noted that the investment aligns with the objectives of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic development, poverty eradication, and wealth creation.

“We celebrate not just an investment in infrastructure, but a bold expression of belief in Nigeria’s gas potential and in the capability of indigenous companies to lead transformational change in our energy landscape,” Mr Ekpo added.

He also reaffirmed the government’s commitment to providing incentives that support sector growth and called on other oil and gas operators to recommit to collaboration, innovation, and local content development.

Speaking at the event, TDC boss, Mr Alfred Temile, expressed gratitude to the federal government and stakeholders, affirming the company’s strategic role in expanding Nigeria’s gas infrastructure.

“This deal reaffirms our role as a strategic stakeholder in Nigeria’s gas value chain development. TDC remains highly committed to driving critical investments in partnership with key sector players in support of Nigeria’s Decade of Gas initiative.”

With the new gas carrier set to enhance Nigeria’s export and transportation capacity, stakeholders believe the project will further strengthen Nigeria’s position in the global energy transition, while building domestic capacity and creating employment opportunities.

In a significant move aimed at accelerating Nigeria’s digital economy, Egbin Power, Nigeria’s leading power generation company, has been identified as the ideal location to host the nation’s first National Data Park and Compute Infrastructure.

The Minister for Communications, Innovation and Digital Economy, Dr Bosun Tijani, made this announcement during his visit to the power Plant, where he was received by Group Managing Director, Sahara Power Group, Dr Kola Adesina and the CEO of Egbin Power, Mokhtar Bounour, among others.

The groundbreaking initiative, spearheaded by the Federal Government, aims to harness the power of reliable energy and cutting-edge technology to drive Nigeria’s digital economy forward. The collaboration between Egbin Power and the FG underscores a shared vision to enhance the nation’s technological capabilities and foster innovation in the digital sector.

Dr Tijani was given an overview of the plant and later accompanied by the management team on a tour of the facility. During the discussion, the Minister expressed confidence that Egbin Power has the right environment to host the Data Park, enabling the GenCo to play a crucial role in powering the digital economy.

He stated, “Without a digital economy, the growth we seek cannot be realized. Everything we need to truly power the digital economy exists here in Egbin Power—not only in terms of energy and water, but also in the excellence of the team that runs this facility. That is what is required to fuel the digital economy.”

The Minister highlighted the global advancement in artificial intelligence, emphasizing the need for Africa to catch up with this momentum. He stressed the importance of finding innovative ways to participate in this digital phenomenon. He further noted that Nigeria’s digital economy significantly contributes to the nation’s Gross Domestic Product (GDP), emphasizing that an efficient data centre is vital for harnessing the capabilities of AI and data processing.

Commenting on the strategic collaboration, Dr Adesina said, “There is a nexus between the digital economy and power. Reliable power enhances the functionality of the digital economy, whether in terms of the Internet of Things (IoT), Artificial Intelligence (AI), data utilization, and more.”

He expressed commitment to supporting the establishment of a National Data Park and Compute Centre and other IT infrastructure required for the digital economy. He highlighted Egbin Power’s reliable energy, available land for expansion, and a conducive environment for such digital infrastructure.

“We are here to support the idea of building the Data Park or other IT infrastructure required within the digital economy. We have reliable power, the land and the right environment needed,” he said. Adesina also noted that, since the takeover, significant investments and technological innovations have been done to revitalise the plant, while expansion plans are in the pipeline to double its capacity.

Egbin Power’s CEO, Mokhtar Bounour, reiterated the plant’s dedication to consistent power generation for the national grid in spite of the challenges inherent in the power sector. “We are open to collaborations that will drive Nigeria’s growth and success. We will continue to push boundaries to deliver reliable power to the nation, facilitating socio-economic progress and ensuring our communities and stakeholders thrive,” Bounour stated.

The Minister also toured the Bright Gyimah Innovation Centre, located within Powerfields Schools, owned by Egbin Power. The Innovation Centre serves as a facility for students to acquire skills in Information Technology (IT), Artificial Intelligence (AI), and to explore their creativity in arts, music, and culinary/hospitality fields.

By Adedapo Adesanya

More reactions continue trail the recent tariffs introduced by the administration of President Donald Trump of the United States, and the latest to add his input is the presidential candidate of the Labour Party in the 2023 general election, Mr Peter Obi, who called on African nations to urgently invest in their human capital and scale up productivity.

He made this while speaking at the plenary session of the Commonwealth Enterprise and Investment Council (CWEIC) Trade and Investment Summit 2025 in London on Tuesday.

Mr Obi emphasised that Africa’s pathway to relevance and resilience in the evolving global economy lies in harnessing its youthful population and vast resources.

The former Governor of Anambra State noted that interventions by President Trump had already disrupted long-standing assumptions of global trade, with many nations adopting protective measures to safeguard their economies, lamenting that African countries have largely failed to respond proactively.

“Despite its vast opportunities, Africa’s share of global trade remains at a paltry 2-3 per cent, with its GDP share at about 3 per cent,” Mr Obi stated, adding that Africa’s GDP per capita stands at just $1,900, compared to about $9,000 in Asia per World Trade Organisation (WTO) data.

He warned that this persists even though Africa has the second-largest and most populous continent of about 1.5 billion people and the world’s largest concentration of working-age population

Mr Obi pointed out that the continent boasts abundant natural resources, including nearly a billion hectares of uncultivated arable land and over 30 per cent of the world’s mineral reserves but these remain underutilised.

“Africa holds over 60 per cent of the world’s arable land. Our food and agriculture market, currently valued at $280 billion annually, is projected to exceed $1 trillion by 2030,” he explained, adding that, “With agriculture at the core of our economic transformation, Africa can emerge as a global agricultural powerhouse and a net exporter of food.”

He lamented that leadership remains the lacking element and called for a transformative shift in governance across the continent, advocating one that embraces innovative education, healthcare investment, and poverty reduction.

“What is missing is leadership that can reorder priorities and scale up productivity so that African countries can move into higher levels of value creation,” he argued.

“We have seen promising signs in better-governed African countries. The challenge remains scaling up and sustaining this across the region,” he added.

Mr Obi urged African leaders to learn from Asia’s developmental state model, which prioritised human capital and productivity over mere institutional imports from Western economies, and called for bold, visionary leadership to steer Africa toward economic self-reliance and global competitiveness.

“Africa must rebuild its economies through leadership that focuses on rapid upgrades in productive capacities, especially in education and healthcare, to lift millions out of poverty and seize the opportunities of the new global economy,” he said.