News
Nigeria’s 1st Marine Engineering Centre of Excellence Takes off @ RSU
The Centre of Excellence (CoE) in Marine Engineering and Offshore Technology established by the Shell Petroleum Development Company of Nigeria Ltd (SPDC)-operated joint venture at the Rivers State University (RSU) is set to open its doors to the pioneer students who are currently being screened in an elaborate admission process.
More than 100 candidates had applied in response to newspaper advertisements, and the shortlisted ones are being screened and interviewed preparatory to commencement of studies in April.
“We continue to thank NNPC and SPDC for being part of our success story at the university,” RSU Vice Chancellor, Professor Blessing Didia, said at the start of the admission interviews.
“We are very happy that the centre has taken off, and we congratulate NNPC, SPDC and the other joint venture partners for what they have done for the university.”
Also speaking, Professor Edmond Allison-Oguru, Head of University Relations, SPDC, expressed the hope that the Centre of Excellence would bring the much-needed improvement in marine engineering and offshore technology in the Niger Delta.
The CoE in Marine Engineering and Offshore Technology, the first in Nigeria, will run 18-month Master’s and Diploma programmes, covering classroom lectures, practical sessions, term project modules and a six-month internship in the oil and gas industry.
The multi-million-naira facility was inaugurated in June 2017, during which Osagie Okunbor, SPDC Managing Director and Country Chair, Shell Companies in Nigeria, pledged that it would produce industry-ready Master’s degree graduates to further advancements in Nigeria’s offshore technology sector.
The SPDC JV had earlier established a CoE in Petroleum Engineering and Geosciences at the University of Benin, and endowed six professorial chairs in Nigerian universities as part of the support for the academia.
In 2016, a Chair in Light Weight Automobile Engine Development was established at the Federal University of Petroleum Resources in Effurun, Delta State, which is expected to contribute to the growth of local content in Nigeria’s automobile industry.
Also, research at the Shell Professional Chair in Petroleum Engineering at the University of Port Harcourt in 2012 produced the Optiwell well-bore stability software.
Use of the software has significantly reduced drilling time as well as costs associated with mud loss and other drilling challenges.
The support for universities is implemented along with other social investment schemes of the SPDC JV, which include the Shell Eco Marathon, the Sabbatical and Research Interns Scheme, Research and Development Grant for competitive proposals and Data support for academic activities from undergraduate to doctoral levels.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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