General
NCDMB Gets $1m Return on Investment From Nedogas
By Adedapo Adesanya
The Nigerian Content Development and Monitoring Board (NCDMB) has received a return on investment (ROI) valued at $1 million from Nedogas Development Company Limited (NDCL) following one of the board’s strategic investments in the oil and gas sector.
The cheque was presented to the Executive Secretary of the agency, Mr Felix Omatsola Ogbe, by the Nedogas Chairman, Mr Emeka Ene, when he visited the Nigerian Content Tower in Yenagoa, Bayelsa State.
The partnership with Nedogas, one of NCDMB’s 15 strategic investments is geared towards actualizing the federal government’s aspirations in key areas of the oil and gas industry. Most of the projects were targeted at actualising the Decade of Gas programme.
Nedogas Development Company Limited (NDCL) is a joint venture between Xenergi Limited and NCDMB Capacity Development Intervention Company. As part of the project, Nedogas Development Company Limited (NDCL) constructed and commissioned a 300 MMscfd Capacity Kwale Gas Gathering (KGG) and injection facility located in the Umusam Community, near Kwale in Delta State, Niger Delta, Nigeria.
The KGG Facility was designed to handle stranded gas resources in Nigeria’s OML56 oil province by providing the opportunity for independent operators in the area to monetize natural gas from their fields through the gas gathering, compression, injection and metering infrastructure of the KGG for quick market access.
Nedogas is one of the several strategic and successful investments of the NCDMB funded from the Nigerian Content Development Fund (NCDF), in line with the Board’s mandate to build capacity and catalyze local projects in the Nigerian oil and gas industry as enshrined under the Nigeran Oil and Gas Industry Content Development (NOGICD) Act.
Speaking at the presentation, Mr Ogbe stated that the success story of NEDOGAS at Kwale, Delta State could be replicated in other oil- and gas-producing communities to minimise gas flaring. He declared the Board’s readiness to continue collaborating with the company.
“Their model should be extended to other parts of the country where gas flaring is continuing. They have shown that with the modular system, we can quickly remove flaring from our operations in Nigeria.”
He confirmed that NCDMB had continued to receive briefings from its investment partners, adding that “we are still waiting for them to come back with success stories. Some of them are near completion and have not started operations yet.”
Chairman of NEDOGAS, Mr. Emeka Ene conveyed the company’s excitement in returning part of the credit and profit, adding that this “proves that NCDMB’s investment was a success and they are getting back that investment.”
He added that “we look forward to further collaboration with the NCDMB to expand the scope,” adding that “NCDMB is now doing effectively and practically and tangibly what it was set up to, which is to impact the economy by direct interventions. That is the way the economy can grow, improve the gas infrastructure in such a way that is sustainable despite the tight economic conditions.”
The value propositions of the Nedogas project include the total eradication of flared gas and conversation of environmental pollutants into products of value and the creation of a strategic gas gathering hub and injection node for quick access to the market for gas owners to monetize gas. Other benefits include the provision of alternative gas supply to the western flank of the OB3 line to add to the volumes of economic sustainability and increase Nigeria’s Gross Domestic Product (GDP), among other reasons.
Some of NCDMB’s notable third-party investments include Waltermith’s 5000 barrels per day modular refinery in Imo State, Azikel Group’s 12,000 barrels per day hydro-skimming modular refinery in Gbarain, Bayelsa State and Duport Midstream’s 2,500 barrels per day modular refinery in Edo State.
Other investments include Better Gas Energy for LPG terminal and gas distribution, a partnership with Rungas Prime Industries Limited to establish a cooking gas cylinders manufacturing plant in Polaku, Bayelsa State and Alaro City in Lagos and a partnership with Butane Energy to deepen LPG utilization in the North.
There was also the partnership with BUNORR Integrated Energy Limited in Port Harcourt, Rivers State to produce 48,000 litres of base oil per day and a partnership with the Nigerian National Petroleum Corporation (NNPC) Limited, Brass Fertilizer and Petrochemical Company Limited and DSV Engineering to establish a 10,000 Ton Methanol Production Plant, Odioama, Brass, Bayelsa State.
By Dipo Olowookere
A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.
WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.
By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.
As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.
The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.
This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.
The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.
Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.
“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.
“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.
“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.
“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.
“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied issuing a directive that gas supply to power generating companies (GenCos) be halted.
In a statement on Wednesday, the authority also denied instructing wholesale gas suppliers to stop further supply of gas to companies due to failure in payment obligations.
The NMDPRA described reports stating that it has directed the stoppage of gas supply to GenCos over N2 trillion debt as “false and completely unfounded”.
“It has absolutely no bearing on the information shared at a recent stakeholders’ engagement held in Lagos between the Authority, the OPTS, IPPG and other stakeholders in the oil and gas industry,” the NMDPRA said.
“The purpose of the engagement was to sensitise stakeholders on the requirements, opportunities and benefits associated with the implementation of the wholesale supply license as provided by sections 142 and 197 of the Petroleum Industry Act (PIA) 2021.
“It was a follow-up to an earlier stakeholder engagement held at the NMDPRA corporate headquarters in Abuja on November 27, 2024.
“The Authority wishes to reassure all our stakeholders and indeed the general public that at no time was the false statement made at that event and anywhere else, and are advised to completely disregard the publication as every effort is being made to ensure that the supply and distribution of natural gas and petroleum products to end users is seamless and unabated as we head into the festive season and indeed all through the coming year 2025.”
Recall that Nigeria’s national grid experienced another collapse on Wednesday, the 11th time in 2024 as Gencos couldn’t generate enough power, compounding issues facing the Nigerian power sector.
This was the first time in over a month as the last time the nation witnessed a nationwide shutdown in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
By Aduragbemi Omiyale
Nigeria is currently experience a cut in power supply after the national grid collapsed for the 11th time in 2024.
This is the first time in over a month as the last time the nation witnessed a nationwide shut down in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
However, just when Nigerians were thinking they will not witnessed another national grid collapse in the year, it issue reared its ugly head again.
On Wednesday afternoon, most of the energy distribution companies suffered power outage, prompting them to inform their customers of the situation.
One of the DisCos, Ikeja Electric Plc, in a message to electricity consumers under its franchise area, said, “Please be informed that we experienced a system outage today, December 11, 2024, at about 13:32 hours affecting supply within our network.
“Restoration of supply is ongoing in collaboration with our critical stakeholders. Kindly bear with us.”
Recall that on Tuesday, in a report, Google listed national grid as one of the top trending searches by Nigerians this year.
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