News
Shell Refutes Exit Rumors from Nigeria
Shell, British oil conglomerate recently refuted claims that it plans to leave Nigeria.
The oil multinational noted that it would still maintain its presence in Africa’s largest market, despite selling its onshore business in the Niger Delta.
The company also noted that the job of its staff are safe.
Despite selling onshore business in Niger Delta, Shell plans to maintain operations in key areas aligned with its strategy.
The company assures no loss of employment for SPDC staff as it transitions to new ownership following the onshore division sale.
The oil company’s statement follows speculations that Shell had chosen to exit Nigeria. Some members of Nigeria’s general public mistook Shell’s sale of its onshore operation as the firm selling all of its Nigerian shares.
A report by the Nigerian newspaper, Punch, clarified this misunderstanding via an interview it was granted by the oil company.
The Shell Nigeria media team had contacted the Nigerian publication on Wednesday to elaborate on the divestment of SPDC and future plans.
The company explained that its plan is to “exit onshore oil production in the Niger Delta and to focus future investment in Nigeria on our Deepwater and Integrated Gas positions.”
Shell told the Punch that it had no plans of exiting the country, contrary to the rumors that seemed to be making rounds. It noted that it intends to “remain a long-term partner of Nigeria, supporting the country’s growing energy needs and export ambitions in areas that are aligned with our strategy.”
Shell mentioned its other businesses in Nigeria, which it intends to keep running.
These are; Shell Nigeria Exploration and Production Company Limited, responsible for producing oil and gas in the deep-water Gulf of Guinea.
Shell Nigeria Gas Limited, which is in charge of supplying gas to domestic industrial and commercial customers; and Daystar Power Group, which offers integrated solar power to commercial and industrial businesses throughout West Africa.
“Shell holds a 25.6 percent interest in NLNG, which produces and exports LNG to global markets. Shell’s interest in NLNG is also outside the scope of this transaction,” the company stated.
As for what next for its employees, Shell stated, “We do not expect a loss of employment. SPDC’s staff will continue to be employed by the company as it transitions to new ownership.”
Shell Plc had announced the sale of its Nigerian onshore oil and gas division to the Renaissance consortium, which includes five companies, for up to $2.4 billion, the British corporation stated on Tuesday, 16th of January.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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