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  •  From 1 2 September this year Africa s leading energy sector investment platform Energy Capital amp Power ECP https EnergyCapitalPower com will host the MSGBC Oil Gas amp Power 2022 Conference https bit ly 3R3Ygoi under the theme The Future of Natural Gas Growth Through Strategic Investment and Policymaking at the world renowned CICAD headquarters in Dakar Opened by HE Macky hellip
    Top 5 Reasons to Attend MSGBC Oil, Gas & Power 2022
     From 1 2 September this year Africa s leading energy sector investment platform Energy Capital amp Power ECP https EnergyCapitalPower com will host the MSGBC Oil Gas amp Power 2022 Conference https bit ly 3R3Ygoi under the theme The Future of Natural Gas Growth Through Strategic Investment and Policymaking at the world renowned CICAD headquarters in Dakar Opened by HE Macky hellip
    Top 5 Reasons to Attend MSGBC Oil, Gas & Power 2022
    Africa5 days ago

    Top 5 Reasons to Attend MSGBC Oil, Gas & Power 2022

    From 1-2 September this year, Africa's leading energy sector investment platform, Energy Capital & Power (ECP) (https://EnergyCapitalPower.com) will host the MSGBC Oil, Gas & Power 2022 Conference (https ://bit.ly /3R3Ygoi) under the theme 'The Future of Natural Gas: Growth Through Strategic Investment and Policymaking', at the world-renowned CICAD headquarters in Dakar.

    Opened by HE Macky Sall, President of Senegal and President of the African Union (https://bit.ly/3a0YCLF), this unmissable event will unlock important opportunities throughout the MSGBC region. Here are five reasons to attend the conference in Dakar this September.

    Learn about MSGBC's oil, gas and energy opportunities

    MSGBC 2022 offers insights from global industry experts and leading sector players from West Africa. Covering the entire energy sector and its value chain, MSGBC 2022 represents the official platform for first-hand information on emerging trends, new projects and regional developments. Through dedicated forums, updates and information on upcoming licensing rounds will be provided, including Gambia's 7; 5 from Guinea-Bissau; Senegal tracking in a recent block of 12; and the completion of Guinea-Conakry terms for a 22-block round.

    In addition, a featured project forum will explore the latest updates from multi-billion dollar mega-developments across the region, including Woodside's 500-million-barrel deepwater Sangomar project; bp's transnational Greater Tortue Ahmeyim project, valued at $3.8 billion; and Chariot's $3.5 billion 10GW green hydrogen Nour Project in Mauritania. Attendance at MSGBC 2022 places delegates at the center of these developments.

    Connect with global investors

    MSGBC Oil, Gas & Power 2022 opens up access to the global market at a time when the basin's burgeoning energy sector is catalyzing a revitalized rise in globalization and sparking widespread investor interest. The event will attract financiers from across Africa, but also from Europe, Asia, the Americas, Australia and the Middle East, along with delegations from many of the existing large companies working in the region. Held under the auspices of HE Macky Sall, the event firmly positions both the country and the region for international market integration and thus represents the official platform where delegates can meet and connect with global investors. At a time when large-scale projects are taking off in the region and European markets are craving a supply of African gas, the timing and scope of the event are designed to draw delegates into action. Over $2.5 billion worth of deals were signed at ECP events last year, and MSGBC 2022 is now set to return bigger and better than the acclaimed 2021 pilot.

    Network with regional and global stakeholders

    MSGBC 2022 brings networking to a level never seen before in its two days of jam-packed programming, more than two dozen exhibitors showcasing innovative developments on their floor stands, and a number of high-level delegates expected ranging from experts to policymakers, international investors to executives of international oil companies, directors of national oil companies to heads of ministries. Representing the entire region from Mauritania to Guinea, the event places regional cooperation at the forefront and proudly hosts delegations from across the regional, continental and international market space. In 2022, MSGBC offers delegates the opportunity not only to meet, but also to interact with other stakeholders, forging a new era of integration in Africa.

    Establish associations

    Meanwhile, thanks to better engagement among stakeholders, delegates gain another significant advantage in the form of prior policy knowledge and public-private partnership (PPP) potential. Across the MSGBC watershed, legislation is moving at record speed to correct stumbling blocks in gender equality, local content, and electrification. Senegal's most recent content reforms came into force last year, and this year, The Gambia updated its Petroleum Exploration, Development and Production License model agreement with a view to improving local content and social benefit. Increasingly, governments and public entities will drive the future of investment, and with the assistance of all the energy ministries of the MSGBC, as well as that of Sierra Leone, representatives of the national oil companies of these nations and dignitaries from Gambia and Senegal, the MSGBC presents an unrivaled experience. platform to build strong APPs.

    Introduction to New Technologies

    Finally, with climate change demanding the transition to cleaner fuel sources, MSGBC's innovative exhibit experience offers delegates a glimpse into new technologies across the oil and gas value chain. Decarbonization solutions, carbon capture and storage, as well as technologies that will improve production and reduce emissions will be on display. Additionally, as COP27 approaches, MSGBC will present not only updates on oil and gas, but also a strong focus on renewable energy and green hydrogen, giving delegates exposure to cutting-edge low-carbon energy technology, as well as solution providers. Despite the potential of renewable energy in Africa, the continent receives only 2% of investment in green energy. With major developments launched, including Mauritania's signing of green hydrogen MoUs representing $43.5 billion, deploying some 40 GW of solar and wind power underway, regional green energy players will be able to have access to the latest developments in smart low-carbon technologies, both through panel discussions and innovative exhibits, as well as regional and global investors and technology providers, paving the way for new partnerships that will accelerate MSGBC's green energy expansion. Visit https://MSGBCOilGasAndPower.com to be there.

  •  Concerned about the growing infrastructure deficit and the need to address the financial challenge of regional infrastructure projects the ECOWAS Commission through the ECOWAS Project Preparation and Development Unit PPDU and the Departments of Transport Telecommunications Energy and Water Resources of the sector has held an awareness meeting on the recently developed ECOWAS Regional Infrastructure hellip
    ECOWAS Sensitises Member States on New Regional Infrastructure Masterplan
     Concerned about the growing infrastructure deficit and the need to address the financial challenge of regional infrastructure projects the ECOWAS Commission through the ECOWAS Project Preparation and Development Unit PPDU and the Departments of Transport Telecommunications Energy and Water Resources of the sector has held an awareness meeting on the recently developed ECOWAS Regional Infrastructure hellip
    ECOWAS Sensitises Member States on New Regional Infrastructure Masterplan
    Africa6 days ago

    ECOWAS Sensitises Member States on New Regional Infrastructure Masterplan

    Concerned about the growing infrastructure deficit and the need to address the financial challenge of regional infrastructure projects, the ECOWAS Commission, through the ECOWAS Project Preparation and Development Unit (PPDU), and the Departments of Transport, Telecommunications, Energy and Water Resources of the sector, has held an awareness meeting on the recently developed ECOWAS Regional Infrastructure Master Plan. The event, which took place from June 23 to 24, 2022 at the Alisa Hotel, Accra, Ghana, was attended by officials from the National Ministries of Planning, Economic Development and Finance of the Member States, representatives of the Infrastructure Committee of the Parliament of ECOWAS, the Community Court of Justice and Partners for Development. The purpose of the meeting was, on the one hand, to present the recently approved Masterplan to the Ministries in charge of National Planning of the Member States and, on the other hand, to the ECOWAS institutions (Parliament, Court of Justice and EBID) and Development Partners,

    The ECOWAS Regional Infrastructure Master Plan was approved by the Authority of Heads of State and Government during the 60th Summit held in December 2021. The 25-year Master Plan, which covers the period 2020-2045, comprises 201 regional projects at an estimated cost of USD 131 billion covering all member countries. States that form the regional bloc. The ECOWAS Infrastructure Master Plan covers four key sectors (Transportation, Energy, Telecommunications and Water Resources) and contains both soft projects (facilitation, improvement of services, efficiency measures, studies, project preparation, institutional and capacity development) and hard projects involving physical investment projects. . It also details the roles of key actors and stakeholders in both its development and implementation.

    The President of the ECOWAS Commission, HE Jean Claude Kassi-Brou, whose speech was read by the Commissioner for Infrastructure of the ECOWAS Commission, Mr. Pathé GUEYE, reaffirmed the political commitment of the Authority of Heads of State and Government to establish an adequate regional framework to guarantee the efficient provision of infrastructure services in the ECOWAS countries. He cited the potential challenge associated with the implementation of the Master Plan, particularly in terms of mobilizing adequate resources to cover the entire estimated budget. Therefore, he reiterated the need to leverage private financing by taking advantage of the recently adopted PPP Policy and Regional Guidelines. The Honorable Commissioner also highlighted the FODETE initiative "Fund for the Development of Regional Energy and Transportation Projects in ECOWAS" being carried out by ECOWAS, as a key to facilitating the mobilization of local resources in recognition of the enormous investments required to implement the Master plan.

    Speaking on behalf of the Spanish Cooperation for International Development, financial partner of ECOWAS PPDU, the Ambassador of Spain in Ghana His Excellency Javier Nanette, representing the Spanish Cooperation for International Development, thanked the ECOWAS Commission for initiating the meeting to promote the masterplan. He reiterated the support of the Spanish Agency for International Cooperation and Development (AECID) to PPDU, including support for the technical studies of the Dakar – Bamako Railway Project, which is one of the flagship projects of the Masterplan. He wished the participants fruitful discussions.

    The keynote address was delivered by the Director of Public Investments, Mr. David Klotey Collison, on behalf of the Honorable Minister of Finance of Ghana. He welcomed all participants to Ghana and reaffirmed the continued support of His Excellency Nana Addo Dankwa Akuffo –Addo, President of Ghana, towards better regional integration through the provision of high-level infrastructure. He mentioned the deliberate effort to ensure that there is an adequate geographical distribution of the projects retained in the Master Plan, in particular the landlocked and island member states. Mr. Collison highlighted the efforts of the Government of Ghana in regional infrastructure development, citing in particular the country's active participation in the Abidjan - Lagos Corridor Road Development Project and the establishment of a national Infrastructure Investment Fund. , an independent fund established by the Government of Ghana to mobilize, manage, coordinate and provide financial resources for investment in a diversified portfolio of infrastructure projects in Ghana. Mr. Collison urged all participants to examine the issues presented and make outstanding recommendations to facilitate the implementation of the Regional Infrastructure Master Plan.

    After extensive deliberations on the presentation of the master plan by ECOWAS, the participants agreed to create an ad-hoc monitoring and evaluation committee and to intensify awareness campaigns targeting the line ministries of the Member States and development partners. The meeting also recognized the need to undertake the necessary project preparatory activities for individual projects to better engage financiers in investment forums planned in 2023 and beyond, in order to have sufficient elements to showcase the selected projects.

    The closing address was delivered by the President, Mr. David Collison, who thanked all the participants and congratulated them for their contributions and active participation. He urged the participants to properly inform their respective Ministers and incorporate components of the Master Plan into their respective national development plans.

  •  The Director General Infrastructural Concession Regulatory Commission ICRC Mr Michael Ohiani says Nigeria is yet to upscale its infrastructure stock to the level that will drive the economy as expected Ohiani said this while delivering a Keynote Address virtually at the 2022 WorldStage Economic Summit WES with the theme Nigeria s Economy Bridging the Infrastructural Gap on hellip
    Nigeria yet to upscale infrastructure stock- ICRC boss
     The Director General Infrastructural Concession Regulatory Commission ICRC Mr Michael Ohiani says Nigeria is yet to upscale its infrastructure stock to the level that will drive the economy as expected Ohiani said this while delivering a Keynote Address virtually at the 2022 WorldStage Economic Summit WES with the theme Nigeria s Economy Bridging the Infrastructural Gap on hellip
    Nigeria yet to upscale infrastructure stock- ICRC boss
    Economy2 weeks ago

    Nigeria yet to upscale infrastructure stock- ICRC boss

    The Director-General, Infrastructural Concession Regulatory Commission (ICRC), Mr Michael Ohiani says  Nigeria is yet to upscale its infrastructure stock to the level that will drive the economy as expected.Ohiani said this while delivering a Keynote Address virtually at the 2022 WorldStage Economic Summit(WES) with the theme : ‘Nigeria’s Economy: Bridging the Infrastructural Gap” on Wednesday in Lagos.According to him, while the major problem facing the economy is the lack of adequate infrastructure, the government alone cannot afford to provide the funding necessary to achieve the infrastructure up to the level needed.Ohiani said the desired level would stimulate the much needed economic growth.“It is a known fact that infrastructure drives economic growth and development of any nation.“Our nation has over the years, produced several development plans, but unfortunately, we have not yet upscaled our infrastructure stock to the level which will drive the economy as expected,” he said.According to him, the Federal Government is totally committed to the development of infrastructure through Public Private Partnerships (PPP).Ohiani said this is evidenced by President Muhammadu Buhari’s continuous commitment, as provided in the 2021-2025 National Development plan (NDP) which seeks to encourage more private sector participation in National infrastructure development.He said: “The NDP has a projected N348.1 trillion, with the entire government of the federation programmed to provide about N49 trillion.“The remaining amount is programmed to be provided by the private sector.“This has been the trending truth over the years, that the revenue to our government cannot meet the needed infrastructure quantum and speed.”The acting director-general noted that the ICRC Act of 2005 came into existence to enable private sector participation in the development and operation of critical infrastructure, which was hitherto the obligation of the government to provide.Ohiani emphasised that the country needed to have more investments and innovative ideas on infrastructure development using already proven and trusted techniques from around the world.Ohiani also said that there was need for more commitment from the private sector towards the actualisation of those goals.He said that in the past 14 years, ICRC has gotten Federal Executive Council approval for more than 50 projects, amounting to more than N3 trillion in private sector funds and currently providing regulatory guidance on more than 200 projects.“As part of the ICRC mandate, we gazette and publish a list of PPP eligible projects annually, so that prospective investors will know when and what to invest in.“As at May 2022, there are 77 post-contract PPP projects under implementation at the ICRC Projects Disclosure Portal (www.ppp.icrc.gov.ng or www.icrc.gov.ng).“The portal is the first disclosure portal in the world, established in collaboration with the world bank.“As at May 2022, there are 197 pre-contract projects at Development and Procurement phases at the ICRC Website a between 2010 and 2021.“Also, under the regulatory guidance of the ICRC, the Nigerian government has approved PPP projects worth more than 8 billion dollars.“As at May 2022, the ICRC has issued 128 Outline Business Case Compliance Certificates, which show their bankability.“In the same period, the ICRC has issued 50 Full Business Case Compliance Certificates to date,” he said.According to him, the continuing success of PPP’s around the world and even in Africa shows us that government can share in the responsibility of providing infrastructure given the right guidelines, and within the regulatory framework provided by the ICRC establishment Act 2005.The acting director-general noted that government had laid the foundation in the ICRC act, saying, “It is now time for the private sector to take advantage of this huge opportunity to invest and develop critical infrastructure through private finance initiatives”.He said ICRC is opened to investors and could be reached for advice and guidance in the development of PPP projects.Ohiani  commended WorldStage for organising such forum to brainstorm on the challenges causing infrastructural gap in the country and contributing in proferring solutions to it.In his welcome address, Mr Segun Adeleye, Executive Officer (CEO), WorldStage said that the country is currently facing huge infrastructural gap that has hindered the desire to exploit its rich natural and human resources to stimulate development.Adeleye stated that Nigeria was ranked number 116 competitive nation in the world out of 140 countries in the 2019 edition of the Global Competitiveness Report published by the World Economic Forum, largely due to the poor state of its infrastructure.He noted that the money needed to attain the level of infrastructure desired will not come from the Federal budget ; hence, the approval for the creation of the Infrastructure Concession Regulatory Commission (ICRC) in 2021 by President Muhammadu Buhari.The CEO said that the country is  availed with huge potential in the PPP option by ICRC to address infrastructure deficit.A panel discussion led by Mr Dare Mayowa, Publisher, Global Financial Digest resolved that Nigerians must recruit the right leaders that will make various  institutions work effectively and efficiently ; hence fill the infrastructural gap.Other discussants at the panel were Mr Soji Adeleye, CEO Alfecity Institution, Mrs Maureen Chigbo, Publisher, Realnews Managazine, Dr Joy Ogaji, CEO, Association of Power Generation Companies, Nigeria. (

    NewsSourceCredit: NAN

  •  Dr Oluseye Ajuwon a lecturer of Economics at the University of Lagos has charged the Federal Government to maintain good governance that ensures public infrastructures are well protected managed and maintained Ajuwon gave the advice at the 2022 WorldStage Economic Summit WES with the theme Nigeria s Economy Bridging The Infrastructural Gap on Wednesday in Lagos hellip
    Experts proffers solution to bridge infrastructural gap
     Dr Oluseye Ajuwon a lecturer of Economics at the University of Lagos has charged the Federal Government to maintain good governance that ensures public infrastructures are well protected managed and maintained Ajuwon gave the advice at the 2022 WorldStage Economic Summit WES with the theme Nigeria s Economy Bridging The Infrastructural Gap on Wednesday in Lagos hellip
    Experts proffers solution to bridge infrastructural gap
    Economy2 weeks ago

    Experts proffers solution to bridge infrastructural gap

    Dr Oluseye Ajuwon, a lecturer of Economics at the University of Lagos, has charged the Federal Government to maintain good governance that ensures public infrastructures are well protected, managed, and maintained.Ajuwon gave the advice at the 2022 WorldStage Economic Summit (WES) with the theme: “Nigeria’s Economy: Bridging The Infrastructural Gap” on Wednesday in Lagos.According to him, true patriotic leadership is most needed in ensuring sustainable infrastructure development.Ajuwon said that infrastructure which include buildings, roads, power, transportation, communication, healthcare, education, water supply, sanitation, among others remain the basic physical and organisational structures and facilities.These, he explained were needed for the operation of a society or enterprise.Ajuwon, also a researcher, said that infrastructure remains the underlying foundation or basic framework upon which the economy of a country is built.According to him, infrastructure is key to economic development, particularly as it relates to the construction, management, and regulation of infrastructure projects.The lecturer said that the underdevelopment of physical infrastructures had been the major constraints confronting the Nigeria economic and social development over the years.Ajuwon said those critical infrastructure gradually decayed over time due to neglect.“The poor performance and inefficiency in the operation of the nation’s infrastructure has been described as major constraints to industrial performance and productivity growth.“As a result, the average growth rate of the national economy has stagnated and stunted around five per cent for many years because the state of our infrastructure does not encourage investment, ” he said.According to him, government, investors, lenders, and all stakeholders in project development must commit to providing pragmatic and sustainable infrastructure that meet international best standards.Ajuwon advised that on-going and future developments in the country should be closely monitored while ensuring that the projects are awarded on merits, and practical timelines are given to contractors  and strictly followed for completion.The researcher urged the government to continue its fight against corruption, address excessive spending in governance and direct saved resources to providing infrastructures for the overall growth of the economy.He maintained that government facilities should be appropriately managed and put into effective and efficient use while abandoned projects should be resuscitated, and less impactful projects, where necessary, should be curtailed.“It is expected that Public Private Partnership (PPP) could be a viable avenue for securing the private partnership in the management of these projects.“Credit facilities for infrastructural projects should be made easily accessible with minimum interest rates, as this will serve as a boost to investment and PPP in infrastructural projects. “The government could also consider giving tax incentives, developing residential housing estates around the project locations, amongst other things.“This will drive human traffic to those project areas and make the project more viable, practicable, feasible, and appealing to the private sectors,” he said.In his welcome address, Mr Segun Adeleye, Executive Officer (CEO), WorldStage, said that the country is currently facing huge infrastructural gap that had hindered the desire to exploit its rich natural and human resources to stimulate development.Adeleye said that Nigeria was ranked number 116 competitive nation in the world out of 140 countries in the 2019 Edition of the Global Competitiveness Report published by the World Economic Forum, largely due to the poor state of its infrastructure.He noted that the money needed to attain the level of infrastructure desired would not come from the Federal budget; hence the approval for the creation of the Infrastructure Concession Regulatory Commission (ICRC) in 2021 by President Muhammadu Buhari.According to Adeleye, the country is being availed with huge potential in the PPP option by ICRC to address infrastructure deficit.“Unlike government funding, private financing sources portend an uncapped and near-limitless pool of funding for investments in infrastructure through banks, bonds, among others.“The focus of the WES 2022 is to examine the infrastructural gap challenges and proffer solutions that would significantly help at improving prospects of achieving the nation’s economic potential,” he said.A panel discussion led by Mr Dare Mayowa, Publisher, Global Financial Digest, resolved that Nigerians must recruit the right leaders that would make various  institutions work effectively and efficiently.This, he noted would fill the infrastructural gap in the country.Other discussants at the panel were; Mr Soji Adeleye, CEO Alfecity Institution, Mrs Maureen Chigbo, Publisher, Realnews Managazine, Dr Joy Ogaji, CEO, Association of Power Generation Companies, Nigeria.

    NewsSourceCredit: NAN

  •  The Infrastructure Concession Regulatory Commission ICRC says Nigeria will begin local production of uniforms for its military and paramilitary personnel from January 2023 The commission said in a statement signed by its Acting Head Media and Publicity Manji Yarling on Monday in Abuja that the production of the uniforms would be a joint venture project hellip
    Nigeria to begin production of military, paramilitary uniforms by January 2023 – ICRC
     The Infrastructure Concession Regulatory Commission ICRC says Nigeria will begin local production of uniforms for its military and paramilitary personnel from January 2023 The commission said in a statement signed by its Acting Head Media and Publicity Manji Yarling on Monday in Abuja that the production of the uniforms would be a joint venture project hellip
    Nigeria to begin production of military, paramilitary uniforms by January 2023 – ICRC
    Economy3 weeks ago

    Nigeria to begin production of military, paramilitary uniforms by January 2023 – ICRC

    The Infrastructure Concession Regulatory Commission (ICRC) says Nigeria will begin local production of uniforms for its military and paramilitary personnel from January 2023.The commission said in a statement signed by its Acting Head, Media and Publicity, Manji Yarling, on Monday in Abuja, that the production of the uniforms would be a joint venture project.The commission said that the Public Private Partnership (PPP) between Defence Industries Corporation of Nigeria (DICON) and Sur Corporate Wear, would lead to the creation of Sur Corporate Wear Nig. Ltd.“The DICON Sur collaboration which will span a concession period of 20 years, will be responsible for producing uniforms for the Army, Navy, Air force, Police, Civil Defence and other military and paramilitary organisations,” it said.The Acting Director-General of ICRC, Micheal Ohiani, in a meeting, charged all stakeholders in the project to resolve all issues  hindering the completion of the factory and report to the commission in one week.Also, Dr Jobson Ewalefoh, Director, Contract Compliance Department, ICRC, during the rescheduled meeting, urged all stakeholders to ensure that the project was completed within the stipulated time frame.Ewalefoh said that the project was important to the nation as it would curb capital flight and create no fewer than 920 jobs.He said that the project would also be a thing of pride for the nation to produce its uniforms.The director said that as the project progressed, the DICON Sur joint venture woud be expected to begin to source all its raw materials from within Nigeria.“The fact that we produce our military and paramilitary uniforms locally is a pride to all of us. It is a pride that we all must uphold.“Sudan is producing their own military kits and I know DICON can do it if they have the right support,” he said.Ewalefoh assured all stakeholders that ICRC would liaise with all the relevant government agencies to fast-track the ongoing process of securing approval for off-takers when production would begin in January.He said that going forward, ICRC through its Contract Compliance Department, would make the DICON Sur project a priority and monitor its progress until completed.The director pledged that the commission would continue to intervene to make PPP projects operate smoothly.The Managing Director, Sur Corporate Wear Nig. Ltd., Burhan Karabulut commended the management of ICRC for intervening and ensuring that the project was hitch-free.Karabulut also commended the investors for agreeing to release funds for the completion of the project, following the intervention of ICRC and the meeting of stakeholders that ensued.He said that the company had so far taken the project to 68 per cent completion, adding that the remaining funds for the project would be released soon to meet the completion goal.“If the work resumes in July, it is assumed that we can start commissioning as of January 2023; but this January, the commissioning will not be 100 per cent production,” he said.Karabulut, however, said that the designs for the uniforms had yet to be approved, adding that the company could not source its raw materials for production.He said that without the approval, the production could not begin.(NAN)