Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Sunday, June 30, 2019

Vietnam, EU Sign Landmark Free Trade Deal

Vietnam, EU Sign Landmark Free Trade Deal

Vietnam, EU sign landmark free trade deal

The European Union signed a landmark free trade deal with Vietnam on Sunday, the first of its kind with a developing country in Asia.

The agreement, paving the way for tariff reductions on 99 per cen of goods between the bloc and the Southeast Asian country, the countries  announced the deal in a statement.

It still needs the approval of the European Parliament, which is not given as some lawmakers are concerned about Vietnam’s human rights record.

The European Union has described the EU Vietnam Free Trade Agreement (EVFTA) as “the most ambitious free trade agreement ever concluded with a developing country”.
































.

Saturday, June 29, 2019

Enugu Government Bans IPMAN’s Activities

Enugu Government Bans IPMAN’s Activities

Enugu State government has placed a ban on the activities of the state chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN).
Enugu Government Bans IPMAN’s Activities

The Permanent Secretary, General Administration, Office of the Secretary to the State Government, Mrs Josephine Onyia disclosed this in a press statement made available to newsmen on Friday in Enugu.

Onyia said that the ban was with immediate effect and would last until the state government gave further notice.

She said that the decision followed the review of the protracted crisis that had engulfed the state chapter.

She said that the crisis had assumed frightening dimensions giving rise to cultism and banditry.

Onyia said that the state government would not stand aloof in the circumstances which had its attendant grave security implications in the state.

She said that a committee comprising the Department of Petroleum Resources (DPR), Nigeria Police, Nigerian Security and Civil Defence Corps would be constituted to take charge of the association.

She said that the committee would be in place pending when normalcy would return to the association.

“Members of the public are further reassured that the state government will as always live up to its responsibility of ensuring the security of lives and property within the state,” Onyia said.

The News Agency of Nigeria (NAN) reports that there has been alleged leadership tussle in the association by various factions of the group.

Thursday, June 27, 2019

Nigeria Needs Deep Ports To Attract Bigger Vessels –NSC Boss

Nigeria Needs Deep Ports To Attract Bigger Vessels –NSC Boss

Nigeria needs deep ports to attract bigger vessels –NSC boss
The Executive Secretary, Nigerian Shipper’s Council (NSC), Mr Hassan Bello, says Nigeria needs deep sea ports to attract bigger vessels and boost the economy.

Bello stated this at a One-day seminar organised by the council for members of Abuja Transport and Aviation Correspondents Association (ATACA) on Thursday in Abuja.

He said the Apapa and Tin Can ports were already over stretched to accommodate the number of cargoes that currently comes into the country.

According to him, the depth of Apapa port is about eight to nine metres which is not deep enough to accommodate large vessels.

He said if Nigeria could develop more deep sea ports, the country would become a hub in the West African sub-region.

“The Vice President has said that Nigeria will develop deep sea ports.

“The advantages are clear, Apapa and Tin Can are water ports, they don’t have the depth that others have.

“Apapa and Tin Can are nine meters deep, while in Togo we have ports with 15 meters because they are natural ports.

“In Apapa and Tin Can, you have to dredge almost all the time, you have to maintain a capital dredging so that you will have depth of about eight meters.

“And this means bigger ships cannot come and then the economic of scale means you will be serviced by less containers.

“But if you have deep sea ports, it’s a natural port, in Lekki we could go up to 15 meters.

“So Nigeria will be the hub, bigger ships will come with more containers to service other places and it can be a hub for other countries if we get our efficiency right,” he said.

Bello also said that Nigeria lost N9 billion dollars annually to foreign shipping lines because of absence of a viable flag carrier and indigenous shipping lines.

He said there was need to have a national carrier to avoid such huge capital flight or revenue loss to foreign shipping companies.

He added that employment creation was another advantage of having a national shipping line.

“If we do that, we are going to have that nine billion dollars that is coming to Nigeria’s economy, you can imagine the effect that it will have.

“We need to see ships flying Nigerian flag, so it is not rocket science, it is not re-inventing the wheel because this has happened, what we want is private sector participation.

“The private sector should lead the way and what the committee for the fleet implementation is doing, is to create investment climate so that investors can come and make it a worthwhile venture,” he said. (NAN)

Friday, June 21, 2019

Unemployed South Africans Turn To Coding For New Jobs

Unemployed South Africans Turn To Coding For New Jobs

Unemployed South Africans turn to coding for new jobs
Unemployed South Africans are turning to coding as the country is facing a severe shortage of computer skills leaving major sectors such as financial institutions struggling to recruit employees with critical skills.

Two thirds of the populations bulk aged between 15 and 34 are unemployed, creating a national crisis according to President Cyril Ramaphosa. Technology seems like the option to create more jobs as opposed to making it worse as usual-.

“I’d say coding is important because we are evolving in a technological world whereby, you get to build anything. So if you starting a business and you need a website you might pay a lot of money for a website. So if you know how to code, you can build your own website which will be less. It gives you a chance whereby you get jobs easier, you get hired easier because a lot of companies now are involving in technology because of the 4IR (Fourth Industrial Revolution),” said Skinny Shugo Kgwedi, Software programmer and Geekulcha community.


Unemployed South Africans are turning to coding as the country is facing a severe shortage of computer skills.

WeThinkCode_ academy in Johannesburg is training students with no qualifications or background to develop websites, programs and apps. The institution is working with donors most being big financial organizations that sponsor the students and later provide them with internship placements to train and get mentorship.  

It is election day in Mauritania this Saturday [The Morning Call]
“Well we’ve seen that if you’re able to successfully train one skilled developer, that impact that individual has is on 10 to 15 other individuals in that person’s environment because they’re creating employment, they’re bringing more efficiency into the workplace, they’re creating more profitable businesses enabling companies to employ even more people. So the impact that one skilled developer has is on 15 other individuals.

If we’re able to produce an extra 100,000 skilled developers across the country we have 1.5 million people that can be employed in the country,” said Yossi Hasson,Co-Founder, WeThinkCode.

Getting young South Africans to learn coding is hard; high data prices and with only four our of ten public schools have computer labs according to South African Institute of Race Relations.

Thursday, June 20, 2019

Breaking: Buharia Appoints Kyari New MD for NNPC

Breaking: Buharia Appoints Kyari New MD for NNPC

Breaking: Buhari appoints Kyari new GMD for NNPC
President Muhammadu Buhari has appointed Mr Mele Kolo Kyari as the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).

The corporation disclosed this in a statement released by the  NNPC Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu,in Abuja, on Thursday.

He said that the appointment will take effect from July 8, 2019 adding that the president  also appointed alongside Kyari, seven new Chief Operating Officers.


Kyari, a geologist, was Group General Manager, Crude Oil Marketing Division of NNPC and also doubled, since 13th May, 2018, as Nigeria’s National Representative to the Organization of the Petroleum Exporting Countries, OPEC.



The statement noted that President Buhari had directed that the New GMD and the newly appointed Chief Operating Officers work with the current occupiers of the various offices till 7th July, 2019 towards a smooth transition on 8th July 2019 when their appointments would take effect to ensure a smooth transition.

However, the appointment of Mr. Farouk Garba Said (North West), who is replacing a retiring Chief Operating Officer, is effective from 28th June, 2019.

 Other officers appointed by Buahri include  Mr. Roland Onoriode Ewubare (South-South), Chief Operating Officer, Upstream, Engr. Mustapha Yinusa Yakubu (North Central) – Chief Operating Officer Refining and Petrochemicals and  Engr. Yusuf Usman (North East) – Chief Operating Officer, Gas and Power

Also, Ms Lawrencia Nwadiabuwa Ndupu (South East), Chief Operating Officer Ventures, Mr. Umar Isa Ajiya (North West), Chief Financial Officer,  Engr. Adeyemi Adetunji (South West), Chief Operating Officer, Downstream and  Mr. Farouk Garba Said (North West) – Chief Operating Officer, Corporate Services.

The NNPC Group Managing Director, Dr. Maikanti Baru, in the statement  had congratulated the new appointees.

 Kyari is a quintessential crude oil marketer with prerequisite certification and outfield pedigree in Petroleum Economics and crude oil and gas trading.

In the last 27 years he had traversed the entire value chain of the Petroleum Industry, with exceptional records of performance.

Under his watch, the Crude Oil Marketing Division has recorded noticeable transformation in the management and sales of the various Nigeria’s crude oil grades via an infusion of transparency and automation of the processes, the release by the NNPC spokesperson, stated.

Kyari would be the 19th Group Managing Director of the National Oil Company.
(NAN)

Monday, June 17, 2019

11 Ships With Petrol, Other Products Arrive Lagos Ports – Npa

11 Ships With Petrol, Other Products Arrive Lagos Ports – Npa


11 Ships With Petrol, Other Products Arrive Lagos Ports – Npa


Eleven ships conveying petrol and other commodities have berthed at the Apapa and Tin-Can Island Ports in Lagos, the Nigerian Ports Authority (NPA) announced on Monday.

The authority said in its daily publication, Shipping Position, that the vessels were waiting to berth with their consignments at the ports.

Eight of the 11 vessels are waiting to berth with petrol while three others will berth with diesel, container and frozen fish.

NPA said that no fewer than 23 ships were expected to berth in Lagos ports between June 17 and June 29.

It said that the 23 expected ships would sail in with general cargo, bulk salt, semi-trailers, bulk sugar, bulk fertiliser, steel products, buckwheat, petrol and container.

It said that eight ships were discharging gypsum, container, general cargo, buckwheat and frozen fish. (NAN)

Sunday, June 16, 2019

 IMF Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

IMF Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

According to the Fiscal Monitor report released on Wednesday and seen by TheCable, Qatar was the only country worse than Nigeria on the index.

Imf Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

The Bretton Wood institution said the index was compiled using the corporate governance and transparency scores of the sovereign wealth funds and the size of assets as a percentage of 2016 GDP of the countries considered.

The fund said it used data compiled by the Natural Resource Governance Institute and Worldwide Governance Indicators.

Imf Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

“It is critical to develop a strong institutional framework to manage these resources—including good management of the financial assets kept in sovereign wealth funds—and to ensure that proceeds are appropriately spent,” the report read.

“This remains a significant challenge in many resource-rich countries that, on average, have weaker institutions and higher corruption

“The governance challenges of commodity-rich countries— that is, the management of public assets— call for ensuring a high degree of transparency and accountability in the exploration of such resources.

“Countries should develop frameworks that limit discretion, given the high risk of abuse, and allow for heavy scrutiny.”

Explaining that sovereign wealth funds have to be transparent, the IMF advised that countries should ensure that the natural resources of countries should be channelled properly to the people that need them.

Of the 10 African countries considered, Ghana was ranked the highest.
(TheCable)

Thursday, June 13, 2019

OPEC Cuts Oil Demand Outlook

OPEC Cuts Oil Demand Outlook

OPEC Cuts Oil Demand Outlook

The Organisation of Petroleum Exporting Countries (OPEC) says it has cut its forecast for global oil demand growth and warned of potential further cuts as international trade disputes continue to fester.

OPEC said in its monthly report published on Thursday that world oil demand would rise by 1.14 million barrels per day (bpd) this year, 70,000 bpd less than previously expected.

Throughout the first half of this year, ongoing global trade tensions have escalated,” OPEC said in the report.

It added that the potential for these disputes to affect global demand poses “significant downside risks”.

OPEC and its allies will meet in the coming weeks to decide whether to maintain supply curbs, with some having become alarmed by a steep slide in prices.

U.S. President Donald Trump has pressed for action to lower prices. Observers see the cut as building a case for prolonged supply restraint over the rest of 2019.

OPEC, Russia and other producers have, since Jan. 1, implemented a deal to cut output by 1.2 million bpd. They will meet over June 25 and June 26 or in early July to decide whether to extend the pact.

Despite the supply cut, oil has tumbled to $61 a barrel from April’s 2019 peak above $75, pressured by fears over the U.S.-China trade dispute and an economic slowdown.

Vienna-based OPEC also said its output fell in May as U.S. sanctions on Iran boosted the impact of the supply pact.

Production by all 14 OPEC members dropped by 236,000 bpd to 29.88 million bpd,” OPEC said.

In addition to lowering its demand forecast, OPEC said that oil inventories in developed economies rose in April, suggesting a trend that could raise concern over the possible build up of an oil glut.
[NAN]

Wednesday, June 12, 2019

Securing Marine Environment: Maritime Administration and Safety Agency Engages Technology & Partnership

Securing Marine Environment: Maritime Administration and Safety Agency Engages Technology & Partnership

Nimasa Deploying Technology, Partnership To Protect Marine Environment
The current management of the Nigerian Maritime Administration and Safety Agency, NIMASA, has since its inception prioritised the blending of technology and proactive partnership into the strategy for actualising the Agency’s mandate of regulating the maritime industry. And it has succeeded on that score, what with the various laudable cooperation agreements and technological initiatives the Agency has introduced. The marine environment management aspect of NIMASA’s mandate is one area this strategy has been quite evident.

 The director-general, Dr Dakuku Peterside, has on many occasions emphasised NIMASA’s commitment to the sustainability of the marine environment. Protecting the marine environment The Marine Environment Management, MEM, department of NIMASA, headed by Dr Felicia Mogo, is responsible for enforcing laws to protect the marine environment against pollution, while ensuring that all laws related to conventions adopted by the International Maritime Organisation, IMO, are complied with. Through the department, NIMASA enforces strategies aimed at preventing pollution of the seas and oceans and controlling the actions of ships operating within Nigeria’s maritime jurisdiction.

 In the first and early second quarter of 2019 alone, NIMASA signed two memorandums of understanding relating to marine environment management. The first was with the Maritime Technology Cooperation Centre, MTCC, on March 15  in Mombasa, Kenya, and the other with National Oil Spill Detection and Response Agency, NOSDRA, on April 24 in Abuja. These are both laudable moves by the Agency to ensure that the Nigerian maritime industry is protected from the vagaries of climate change through the reduction of carbon emission and damages to marine life and the environment caused by oil spills and the maritime.

 Coordinated by NIMASA, Nigeria is the MTCC focal point for West Africa, with Dr Oma Ofodile of MEM, NIMASA, as the focal point person overseeing Nigeria and other West African countries, including Ghana, Sierra Leone, and Liberia. Nigeria, being a developing country, stands to gain a lot from strategic partnerships in marine environment protection and marine pollution prevention. This is especially in relation to the challenge posed by the IMO mandate regarding vessels having bunker fuel oil of 0.5 per cent sulphur content by 2020.

NIMASA was recently chosen to lead a programme initiated by MTCC to track fuel consumption and reduce Greenhouse Gas, GHG, emission by ships in an effort to reduce the rate of climate change and its effects on the marine environment.

Track and record emission 
The Agency has expressed its determination to achieve the best results for not only Nigeria but also the other countries under its leadership, being the West African focal point. MTCC is funded by the European Union and implemented by the IMO. It was set up to assist developing countries in five geographical regions of the world, namely, Latin America, the Pacific, Asia, the Caribbean, and Africa.

 NIMASA is deploying technology to facilitate the achievement of its mandate. The Agency recently installed the Thorium X tablet, a Fuel Consumption Data Collection gadget, aboard a flag state vessel in a pilot project to track and record emission from vessels during the voyage. A sensitisation breakfast meeting was held in Lagos to bring together stakeholders and inform them of the technology partnerships and the gains for Nigeria, especially in relation to the adoption of technologies and building capacity to mitigate climate change. In the MoU between NIMASA and NOSDRA, both parties agreed to work together, recognising that their roles and mandates cannot be mutually exclusive on matters of oil spill pollution management in the marine environment as set out in the International Convention for Oil Pollution Preparedness Response and Cooperation, OPRC’90.

The MoU was in a bid to curb pollution from the movement of empty maritime oil tankers operated by International Oil Companies, IOCs, and spills that involve stationery oil tankers on the high seas.
NIMASA and NOSDRA have reached an agreement with due consideration for the statutory mandate of both agencies.

Pollution from ships
The world over, coastal waters and oceans are deteriorating at an alarming rate due to increasing coastal development, pollution from ships, oil spills, as well as land-based sources of pollution, habitat destruction, and other threats.

NIMASA is implementing technological initiatives and entering partnerships to ensure that the Nigerian marine environment is well protected. This is to avoid potential damage from pollution and abuse of the waters and the concomitant catastrophic effect on the country’s economy.

The Agency is also engaged in efforts to sensitise the public, communities, and stakeholders to the dangers of environmental pollution and the benefits of a pollution-free environment. It has tried to discourage the reckless disposal of plastics in the environment, especially in the rivers. Plastic pollution poses significant risks and economic costs. Not only is the cost of cleaning up plastic debris from seas expensive, but excessive pollution can also negatively impact tourism and, thus, the entire economy.  Plastic pollution spread across countries, creating a regional problem with high costs for economically important sectors, such as tourism and fishing.

While the plastic pollution crisis cannot be resolved overnight, it can be controlled if necessary measures are adopted. These include recycling of used plastic containers, rather than their careless disposal into the environment since they are not biodegradable.
NIMASA is applying multifarious approaches to realise a clean marine environment for shipping and other activities.
[Vanguardngr]

Thursday, June 6, 2019

Nigeria Is Ready For 5G Technology, Says NCC

Nigeria Is Ready For 5G Technology, Says NCC

Nigeria Is Ready For 5G technology, Says NCC
The Nigerian Communications Commission (NCC) has said the country is ready for the 5G bandwidth network for faster and efficient internet services.

This is as the commission said it will soon audit the Mobile Network Operators (MNOs) to determine their level of compliance with the regulation on the registration of Subscriber Identity Module (SIM) cards.

The commission’s Executive Commissioner for Stakeholder Management, Mr. Sunday Dare, said this in Abuja at an interactive session with newsmen. He said the NCC had been preparing the country for it by bringing together critical stakeholders to examine the legal, regulatory and technology issues, apart from developing a roadmap.

“We have opened up consultations on spectrum for drones, etc. We are proactively leading discussions on the development of new technologies. This does not mean that we are going to discard the 2G, 3G or 4G.
Each one of these levels of technologies has its benefits and the fact remains that you have to move from one level to the other,” Dare said.

On the audit of the MNOs, Dare said it was during a similar exercise in August 2015 that the regulatory body found that 5.2 million SIM cards were not properly registered by MTN Nigeria Communications Limited. This, according to him, led to the imposition of N1.04tn fine on the mobile operator, before it was eventually reduced to N330bn. MTN completed the payment of the fine on May 24.

 According to him, the exercise was not to make money for the government but to ensure that prescribed processes were complied with. Speaking on broadband penetration, the NCC official said Nigeria has met the 30 percent milestone and has publicly released the data for everyone to interrogate.

“Those who say we have not are citing old reports from the ITU. They forget that NCC provides the data that ITU uses. We are the custodians of data, and we have specialised methods of measuring. Based on empirical data, we have met and surpassed the target,"he noted.