The Federal Government is working towards the re-establishment of a National Shipping Line through a strategic Public Private Partnership arrangement, the Minister of Marine and Blue Economy, Gboyega Oyetola has said.
The minister also noted that the government has created a roadmap towards a sustainable blue economy.
Speaking in Lagos on Tuesday at a stakeholders’ roundtable engagement on advancing sustainable development in Nigeria’s marine and blue economy, Oyetola explained that the roadmap will advance the industry’s potential, promote sustainable blue economy investments, and ensure global competitiveness within the sector.… Read the rest
Stakeholders in the maritime industry have lauded the creation of the Ministry of Marine and Blue Economy and called for the involvement of more experts in its management to meet its targets.
They stated this at the 14th Annual General Meeting and Lecture of the Nigerian Maritime Law Association (NMLA), which also elected a new leadership for the association.
Delivering the keynote address in Benin City, capital of Edo State, titled “Urgent Regulatory Reform in the Maritime Industry: Setting the Agenda for the New Administration,” the Chairman of NMLA, Mr.… Read the rest
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday warned players in the oil and gas industry against frustrating the Nigerian Gas Flare Commercialisation Programme (NGFCP) which aims to achieve zero routine burning of gas in the country.
The Chief Executive of NUPRC, Mr Gbenga Komolafe, during a meeting with chief executives of producers operating assets under the NGFCP in Abuja, stated that the programme must not be allowed to fail, given the local and international attention it has attracted.… Read the rest
Eni has temporarily paused arbitration proceedings over an oilfield dispute with the Nigerian authorities, reported Reuters, citing sources.
The oilfield, called oil prospecting licence (OPL) 245, is at the centre of the issue and is believed to be possibly the largest oil block in Nigeria.
The Italian oil and gas company has confirmed the suspension of the arbitration at the World Bank’s dispute settlement agency.… Read the rest
The former president of Poland, Bronisław Komorowski, will in December visit Nigeria for the African Industrial and Development Conference 2023.
The summit with the theme, ‘Energy and Sustainable Development in Africa,’ is organised by Dotmount Communications in collaboration with Yahoo Finance.
In a statement signed and made available to BusinessDay by the President of Dotmount Communications, Adedotun Olaoluwa said the conference will profile renewable energy opportunities available in Nigeria and Africa to producers of renewable power as their next investment destination.… Read the rest
Zach Adedeji, the Federal Inland Revenue Service (FIRS) chairman, has charged non-domestic companies shipping crude oil from Nigeria to ensure strict compliance with the country’s tax laws in their operations.
Adedeji gave the charge in Lagos at a workshop on taxation of non-resident shipping companies organised by FIRS in conjunction with the Oil Producers Trade Section (OPTS) on Monday.
He said the compliance exercise commenced by FIRS on the activities of foreign shipping companies lifting hydrocarbons from Nigeria was part of measures aimed at widening the tax net to grow revenue for the government.… Read the rest