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.”
General
Court Rules FCCPC Can Sanction MTN, Airtel, Other Telcos

By Adedapo Adesanya
A Federal High Court in Lagos has ruled that the Federal Competition and Consumer Protection Commission (FCCPC) has the legal authority to regulate competition and consumer protection in all sectors, including telecommunications.
The ruling of the court on Friday, February 7, 2025, affirmed the agency’s statutory authority to regulate competition and consumer protection across all sectors, including telecommunications despite the Nigerian Communications Commission’s (NCC) role in the industry as contained in the FCCP Act of 2018.
The protection body in December threatened to sanction the telcos amid an investigation due to the poor service offerings to customers.
The court dismissed a lawsuit by an MTN shareholder, Mr Emeka Nnubia, who sought to block the FCCPC’s investigation, ruling that the agency acted within its powers in summoning MTN and requesting information, which did not violate data protection laws.
Mr Nnubia argued that the FCCPC’s inquiry could violate data protection laws and that regulatory authority over MTN resided with the NCC rather than the FCCPC.
The ruling clarifies that while the NCC regulates telecom operations, it does not have exclusive authority over competition issues, reinforcing the need for cooperation between regulators while affirming FCCPC’s primary role in competition and consumer protection enforcement.
The ruling also confirms that FCCPC acted within its statutory powers in issuing a summons to MTN Nigeria as part of its ongoing inquiry into potential anti-competitive practices.
On the issue of cost, the court acknowledged that the case raised important questions regarding the evolving landscape of competition and consumer protection law in Nigeria.
While the court recognised that costs ordinarily follow events, it declined to award costs due to the public interest significance of the case.
The court also held that entering into a Memorandum of Understanding (MoU) with sector regulators is not a condition precedent for FCCPC’s enforcement of its statutory functions. Instead, it is the obligation of sector regulators to engage with organisation to define working arrangements, not the other way round.
The development was welcomed by the FCCPC in a statement on Sunday, noting that it floored MTN at the court.
“The ruling reaffirms that FCCPC’s jurisdiction remains paramount in competition and consumer protection matters, while also recognising the role of the NCC in regulating telecommunications operations,” the statement said.
General
FG Pledges to Revive Atlantic Refinery Project

By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has expressed dismay over the abandonment of the Atlantic Refinery project in Brass Local Government Area of Bayelsa State, promising to rejuvenate it.
Mr Lokpobiri made this commitment during an inspection visit to Ewa-ama Road, which leads to the Brass Petroleum Products Terminal (BPPT), where he engaged with key community stakeholders.
He assured stakeholders that the federal government would review the project to ensure its eventual completion.
“The federal government remains committed to completing critical infrastructure projects that drive economic growth and improve livelihoods. This project will be thoroughly reviewed to ensure its eventual completion,” he pledged.
The Minister commended the people of Brass for their peaceful disposition despite the challenges posed by the refinery’s abandonment, urging them to sustain the peace.
“Stability is crucial for attracting further investments and development to the region,” he emphasised.
Reaffirming President Bola Tinubu’s commitment to delivering on key development projects, Mr Lokpobiri reiterated that the government remains dedicated to advancing initiatives that will benefit the Niger Delta.
The Minister was accompanied on the visit by Mr Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as part of efforts to assess and fast-track key projects in the region.
General
Obi Urges Transparency, Accountability as 2025 Budget Swells 9%

By Adedapo Adesanya
The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has called for transparency and accountability as a result of the recent increase in the 2025 budget by 9.1 per cent to N54.2 trillion.
Mr Obi, in a message on X, the social media platform formerly known as Twitter, said while the sources of revenue were detailed, there was no corresponding breakdown of expenditures to justify the budget increase.
President Bola Tinubu on Wednesday raised the proposed budget by 9 per cent from N49.7 trillion to N54.2 trillion, citing additional revenues generated by key government agencies such as the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS), and other government-owned agencies.
Mr Obi, in his message, stressed the need for Nigerians to be informed on how public funds are allocated and spent.
“For transparency and accountability sake, Nigerians need to know how the resources generated from them are being allocated to ensure that they are judiciously spent on the country’s development and the well-being of the people,” Mr Obi said.
He added that budgetary expenditures should be directed toward critical areas of development, including education, healthcare, security, and poverty alleviation, to ensure meaningful impact on citizens’ lives.
“Yesterday, I read about the increase in the Budget of Restoration to ₦54 trillion due to increased revenue.
“While the sources of this revenue were detailed, there is no corresponding breakdown of expenditures to justify the increase. For transparency and accountability sake,” part of the statement read.
He said Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023, calling on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget.
He also called on lawmakers and government officials to prioritise openness and accountability to safeguard public trust as preparations begin for the 2025 Budget of Restoration.
“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress.
“As we work towards passing the Budget of Restoration for 2025, let us uphold openness, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our great nation,” he stated.
-
Feature/OPED5 years ago
Davos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy2 years ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN