Akachukwu Nwokedi Emerges New Nigerian Gas Association President

Image

By Adedapo Adesanya

The General Counsel and Company Secretary of Nigeria LNG Limited, Mr Akachukwu Nwokedi, has emerged as the President-elect of the Nigerian Gas Association (NGA).

He will take over the position from Mr Ed Ubong, whom he worked under. Following his ascension, he will be tasked with the role of piloting and steering the affairs of the gas industry association for the next two years.

Mr Nwokedi, who is a former Managing Director of NLNG Ship Management Limited, is a long-standing active member of the association and was the first Vice President before emerging as President-elect.

The election was conducted recently as part of the Annual General Meeting (AGM) of the association, which was held in Lagos.

He has also, over the years, occupied several positions in the Association, namely Legal Advisor, Secretary General and Chairman, NGA Conference Committee

The newly elected Executive Council will formally assume office during the Association’s International Conference, which would hold in April 2023.

The council governs the activities of the NGA. It consists of eight elected members and several nominated ex-officials, who all on a voluntary basis for a tenure of two years.

The NGA was set up in 1999 as the umbrella professional body of the gas industry responsible for lead advocacy, promotion and protection of the interest of the gas industry and players in Nigeria.

NGA is the apex organisation representing the varied and numerous stakeholders in the gas sector within the Nigerian oil and gas industry.

The association is a non-political association that was formed to promote the development of gas in Nigeria for the benefit of the nation and the various stakeholders. It is the largest gas-focused volunteer/individual-member organisation, the umbrella association and voice of the gas industry in Nigeria.

Share
Related Stories
Image
30-January-2024

Relocated CBN Staff to Resume in Lagos Office February 2

By Adedapo Adesanya The redeployed staff of the Central Bank of Nigeria (CBN), estimated at 1,533 or 36.22 per cent, are set to resume in the Lagos office on Friday, February 2. According to The Punch, a person privy with the development said the plan was still in motion, and affected staffers would be resuming this weekend. “Yes, the plan is still on and they will resume work by February 2, which is the first week of next month,” the official was quoted as saying. Business Post had reported earlier this year that following a circular dated January 12, 2023,

Image
07-February-2024

Finverity Elevates Alex Fenechiu, Symmie Swil

By Modupe Gbadeyanka The co-founder and former Chief Operating Officer (COO) of Finverity, Mr Alex Fenechiu, has taken over as the Chief Revenue Officer (CRO) of the organisation. A statement from the firm on Wednesday said Ms Symmie Swil is the new COO and would be expected to provide the company with operational excellence with her impressive track record in business banking. It was disclosed that her promotion was in recognition of her invaluable contribution as Head of Operations since joining Finverity in 2023. She has an impressive history of driving significant growth, whilst instilling operational excellence, notably expanding Starling

Image
06-February-2024

Bosun Tijani Appointed to ITU Digital Innovation Board

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has been appointed as a member of the Digital Innovation Board of the Innovation and Entrepreneurship Alliance for Digital Development by the International Telecommunications Union (ITU). ITU is the United Nations specialized agency for information and communication technologies (ICTs). Founded in 1865, the Geneva-headquartered agency facilitates international connectivity in communications networks. According to the ITU, the Digital Innovation Board was established to provide strategic guidance, expertise, and advocacy regarding its mission of building critical local enablers and fostering innovation and entrepreneurship in digital development, to create

More Stories
Image
23-January-2017

Ecobank Establishes Agency Banking Outlet in Ogun

By Dipo Olowookere An agency banking outlet has been launched by Ecobank Nigeria at an Airtel express shop in Mowe Ofada, Ogun State. This, the bank explained, is in line with its determination to convert Airtel franchise locations to Agent banking locations. The Ecobank Agency Banking service, which is the first of its kind to debut in Nigeria, is aimed at offering affordable access to financial services to promote and deepen financial inclusion in the Nigeria economy. According to Head of Consumer Distribution at Ecobank Nigeria, Mr Tunde Kuponiyi, agency banking is a part of the bank’s distribution strategy to

Image
10-July-2017

The MPC Now Walking Tall

By FBNQuest Research When we read the personal statements of members of the monetary policy committee (MPC) following their meeting in late May, we noticed a distinct rise in their confidence. Their mood in the previous 12 months could be described as one of despair. In layman’s language, the prevalent view was that they were not responsible for the contraction in the economy or the surge in inflation and that somebody else (ie the FGN) had to pick up the pieces. The game changer, of course, has been the new fx policy. The new confidence is in danger of developing

Image
25-June-2020

Sharp Rise in Nigeria’s Debt to Revenue Ratio Worries Fitch

By Dipo Olowookere United States-based rating agency, Fitch Ratings, has expressed worry about the sharp increase in the debt to revenue ratio of Nigeria. A director at Fitch, Mr Mahmoud Harb, informed Reuters in a chat that this and another factor could force his organisation to further downgrade the rating of Africa’s largest economy. Mr Harb listed the other factor that could trigger a rating lowering as a rising decline in the foreign exchange inflows into the country, which is mainly derived from crude oil sales. According to Fitch, Nigeria will need not less than $23 billion to meet its

Image
06-September-2021

Window Opens for Retail Investors to Buy September FGN Savings Bond

By Sodeinde Temidayo David Retail investors who missed out on the FGN savings bond last month now have the opportunity to purchase the debt instrument targeted at them. The Debt Management Office (DMO), which sells the securities on behalf of the Federal Government of Nigeria, issued a circular to announce the exercise for September. According to the disclosure obtained by Business Post, subscriptions for the bond sale will last five days as it commenced on Monday, September 6 and will end on Friday, September 10. The FGN savings bond is mainly for low-income earners so as to encourage them to

Image
04-September-2022

Nigeria Partners Binance to Build Virtual Free Trade Zones

By Adedapo Adesanya The Nigerian government, through the Nigeria Export Processing Zones Authority (NEPZA), has announced plans to establish virtual free trade zones with a top cryptocurrency exchange, Binance. The partnership aims to build a digital hub “similar to the Dubai virtual free zone,” according to a statement by the authority seen by Business Post. Virtual free trade zones use cutting-edge technology like artificial intelligence, data integration, and automated processes to support local businesses and cut red tape on import and export procedures. This is as Nigeria is targeting digital technology as a means to help diversify the economy away

Image
23-November-2019

Investors Offer N115bn for N50bn 30-Year FGN Bonds

By Dipo Olowookere The Debt Management Office (DMO) this Wednesday was at the local bond market to auction Federal Government of Nigeria (FGN) bonds worth N150 billion to investors. During the exercise, participants showed increased appetite for the long-dated debt instrument as evident in the value of subscriptions received for the 30-year bond put up for sale. The debt office had gone to the market to sell N50 billion worth of the paper, but results from the auction showed that subscribers staked N115.09 billion on the note, indicating a subscription of 230.18 percent. A statement released by the DMO said

Image
11-April-2017

We’re Aware Malabu Would Get Oil-Deal Cash—Shell

By Dipo Olowookere More revelations are emerging in the controversial Malabu Oil saga as Royal Dutch Shell Plc said on Tuesday in a statement that it knew a firm linked with former Minister of Petroleum in Nigeria, Mr Dan Etete, Malabu Oil and Gas Ltd, would get a share of the $1.1 billion paid to the Nigerian government in 2011 for an exploration license. Shell said in the statement that it “knew that the Federal Government of Nigeria would compensate Malabu to settle its claim on the block,” saying further that, “Over time, it became clear to us that Etete

Image
04-February-2023

Naira Shortage: President Buhari Calls for Calm

By Modupe Gbadeyanka President Muhammadu Buhari has urged Nigerians to remain calm as they express their anger over the shortage of Naira in the financial system. Since last week, many citizens of the country have been unable to access their funds in the banks because of a shortage in the supply of the redesigned Naira notes. This has resulted in a huge crowd at banking premises across the nation, with several persons queuing at Automated Teller Machine (ATM) terminals waiting to withdraw their money with success. The Central Bank of Nigeria (CBN) redesigned the N200, N500, and N1,000 denominations last

Ad
Ad
Recent Stories
Image
02-March-2024

JUST IN: Nollywood Star Mr Ibu Dies

By Modupe Gbadeyanka Information just reaching Business Post indicates that popular Nigerian actor, Mr John Okafor, otherwise known as Mr Ibu, is dead. It was gathered that the Nollywood star breathed his last on Saturday in a hospital in Lagos. His demise comes a day after the Nigeria film industry lost an actor, Mr Tolani Quadri Oyebamiji, well-known as Sisi Quadri. Mr Ibu underwent a surgery, which led to the amputation of one of his legs. He was later discharged from the hospital, but was reportedly taken back. Until his death, he acted in several movies. He was well known

Image
02-March-2024

African Bishops Seek Overhaul of Financial System as Debt Burden Worsens

African Catholic Bishops called for an overhaul of the financial system to address health, climate, food and other challenges the region faces. Ahead of a gathering of African Finance Ministers in Victoria Falls, Zimbabwe, the Justice, Peace and Development Commission of the Catholic Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) outlined reforms for debt relief, development resources and governance. “In Sub-Saharan Africa the number of people facing food insecurity stress or crisis has more than doubled since 2019, reaching 420 million people last year,” noted the bishops in a statement. A delegation representing the African Bishops and religious

Image
02-March-2024

MTF Class of 2023 to Premiere Her Dark Past, Grown

By Modupe Gbadeyanka Two feature films will be premiered this weekend exclusively on the Africa Magic Showcase channel 151 and Africa Magic Urban channel 153 by the students of the MultiChoice Talent Factory (MTF). The two pieces of art titled Grown and Her Dark Past are the final projects of the MTF Class of 2023 students, a statement from the organisation said. The MTF is a leading film school in West Africa for young, talented and passionate filmmakers. It was established by the media platform to grow the region’s creative industry. Grown premieres on Africa Magic Showcase at 8.30 pm

Image
02-March-2024

Mandela’s Heirs Lose Power in South Africa

By Alexander Braterskiy South African authorities warn that if the opposition wins the parliamentary elections, the country may change course and leave the informal BRICS economic bloc, which includes Russia. The position of the African National Congress party, which has been in power since the collapse of apartheid, is indeed not the best, as shown by the municipal elections held earlier in the country. The opposition accuses the president of corruption and abuse of power, as well as an inability to cope with the country’s energy crisis. The ANC crisis occurred on the 30th anniversary of the first free elections

Image
02-March-2024

CAA Reaffirms Commitment to Climate Innovation for Sustainable Future

By Modupe Gbadeyanka A leading social enterprise focused on environmental sustainability, Climate Action Africa (CAA), has reaffirmed its commitment to being at the forefront of driving climate innovation for a sustainable future. The organization, which is a key participant at the four-day Omniverse Summit 2024 in Lagos, emphasised the need to integrate environmental sustainability models, technology, and community-driven innovation to address climate change challenges. It promised to foster an inclusive climate action ecosystem through innovation, which it said can be used to identify and scale solutions to address the imminent climate crisis in Nigeria and Africa as a whole, The

Image
02-March-2024

Endosurvivors Foundation Set For Another Endometriosis Awareness

By Adedapo Adesanya EndoSurvivors International Foundation (ESIF), an NGO championing endometriosis awareness in Nigeria, has announced its upcoming events in commemoration of the Global Endometriosis Advocacy Month in March, fondly tagged March4Endo by advocates all over the world.  Endometriosis is a chronic and inflammatory condition that affects approximately 1 in 10 girls and women in Nigeria and on a global scale. This sums up to about 190 million affected girls/women around the world, about the population of Nigeria in 2018.  The World Health Organisation (WHO) recognizes that endometriosis has significant social, public health, and economic implications leading to a decrease

Image
02-March-2024

CSCS, FrieslandCampina Lift NASD OTC Bourse by 0.31%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive territory after it gained 0.31 per cent on Friday, March 1, thanks to the duo of Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc. CSCS Plc added 81 Kobo to its value to sell for N19.46 per unit compared with the preceding day’s N18.65 per unit, and FrieslandCampina improved by N1.15 to settle at N71.4o per share, in contrast to Thursday’s closing price of N70.25 per share. However, Aradel Holdings Plc continued its price depreciation yesterday as it shed N6.75 to sell at N2,395.00

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
02-March-2024

Crude Oil Jumps 2% as Traders Sight Possible OPEC+ Cuts

By Adedapo Adesanya Crude oil appreciated by about 2 per cent on Friday as traders awaited a decision from the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on supply agreements for the second quarter. Yesterday, the price of Brent futures went up by $1.64 or 2 per cent to $83.55 per barrel and the US West Texas Intermediate (WTI) futures rose by $1.71 or 2.19 per cent to $79.97 a barrel. For the week, Brent added around 2.4 per cent while WTI gained more than 4.5 per cent. Analysts noted that the expectation that OPEC+ is going to

Image
02-March-2024

NGX Indices Nosedive by 1.23% as Traders Resume Profit-Taking

By Dipo Olowookere The bears made a quick return to the Nigerian Exchange (NGX) Limited after leaving the stage for the bulls for a day as investors reassessed the impact of the hike in the benchmark interest rate by the Central Bank of Nigeria (CBN) on Tuesday on their investments. On Friday, the key performance indicators of the bourse closed lower by 1.23 per cent as a result of renewed selling pressure, especially in the energy and industrial goods sectors. Business Post reports that at the close of transactions on the first trading session of March 2024, the industrial goods