Business

A total of N14.86 billion has been invested by the Shell Petroleum Development Company of Nigeria Ltd (SPDC) operated Joint venture on Global Memorandum of Understanding (GMoU) clusters in Rivers State, giving communities a highly-valued opportunity to decide and implement projects and programmes that have a lasting impact on people’s lives. The funding, since the GMoU concept took off in ...

The Shell Petroleum Development Company (SPDC) has urged youths in the oil producing Niger Delta region to embrace peace and end vandalisation of oil installations in the area. Mr Igo Weli, General Manager, External Relations, SPDC, made the appeal on Thursday, May 17, 2018 in Port Harcourt, Rivers State, during the “Youths Summit for Land East Hub Host Communities’’ programme ...

Shell Nigeria Gas (SNG) Limited has increased its domestic gas distribution capacity by 150% over the last six months. The increase in capacity will enable the company to distribute more than 100 million standard cubic feet of gas per day (MMscf/d) to businesses in its western operations. The new capacity is equivalent to some 400 Megawatts (MW) of gas to ...

Shell Nigeria Exploration and Production Company (SNEPCo) delivered a total of 763 million barrels of oil from the Bonga field between first production in 2005 and 2017, while at the same expanding the field with further drilling of wells in Bonga Phases 2 and 3 and through a subsea tie-back that unlocked the nearby Bonga North West field in August ...

The potential for the African Continental Free Trade Area (AfCFTA) to become a powerful tool for driving industrialisation, economic diversification and development has been highlighted at the start of the UN Economic Commission for Africa’s (ECA) Conference of Ministers in Addis Ababa (Ethiopia). The four-day event, holding from May 11 to 15, aims to advance the ambitious initiative to form ...

Some 290 Nigerian contractors have received loans worth more than N472 billion under the Shell Contractor Support Fund, which was set up by Shell companies in Nigeria to help vendors and suppliers in the oil and gas industry secure funds at reduced interest rates, relaxed collateral requirements and quicker processing time. Also, Shell Companies in Nigeria awarded contracts worth over ...

To help unlock economic growth, the African Development Bank (afDB) is coordinating the implementation of an integrated development strategy for Portuguese-speaking countries in Africa. In preparation for the rollout of this initiative, the bank and the Government of Portugal have signed an agreement to provide language training to African Development Bank staff interested in learning Portuguese, as well as professional ...

The Realnews Magazine and Publications Limited, a Nigerian-based news publication outfit, has created an Android and Windows 10 Mobile Apps for Realnews magazine, its online publication. The Apps can be downloaded via links below for national, regional and international news and breaking stories. The Android link is: https://play.google.com/store/apps/details?id=com.realnews.magazine&hl=en The Windows link is: https://www.microsoft.com/en-us/store/p/realnews-magazine/9p9sgk05vx35 Through the Apps, Realnews will be disseminating well investigated stories on national and international issues ...

Donors to the Fund for African Private Sector Assistance (FAPA) – consisting of the African Development Bank (AfDB), the Government of Japan and the Government of Austria – have approved three catalytic projects totalling some $2,480,000 to stimulate the growth of Africa’s small and medium enterprises (SMEs). These grants will help strengthen the participation of Africa’s SMEs in financial markets and the ...

To compete at the accelerated pace of technological innovations and the 4th Industrial Revolution, Africa has to put in more money into training its people and equipping them with the skills they need for the jobs of the future, Akinwumi Adesina, the President of the African Development Bank (AfDB), has said. He also called on African countries to rethink the ...