Private Sector - NEWS AGENCY OF NIGERIA

Ivory Coast President seeks stronger intra-African trade, local processing of raw materials

Philip Daniel Yatai
May, Sat, 2025

Foreign

Ivory Coast President seeks stronger intra-African trade, local processing of raw materials

239 total views today

President of Ivory Coast Alassane Ouattara has called for stronger intra-African trade and continued efforts to process raw materials locally.

Ouattara made the call at the 12th edition of the Africa CEO Forum 2025 in Abidjan.

“We must now work to strengthen intra‑African trade by continuing our efforts to process our raw materials and by accelerating the implementation of the AfCFTA,” he said.

He underscored the country’s strong macroeconomic performance driven by private-sector investment.

Speaking during the forum, Senegalese President Bassirou Diomaye Faye said his country was seeking 1.7 billion dollars in investments to build digital infrastructure and create youth employment.

According to him, the funding will support projects including constructing data centres and deploying high-speed internet, with a target of achieving 5G coverage across the West African nation by 2030.

Forum organisers stressed that improving public policy and economic governance is essential to unlocking Africa’s full potential.

The forum brought together more than 2,800 leaders from the public and private sectors across more than 90 countries.

DNE Africa, a partner of TV BRICS, reported that the 12th edition of the forum, focused on forging a new partnership between African governments and businesses to fast-track the continent’s economic transformation.

The central theme of the forum – “Can a New Deal Between State and Private Sector Deliver the Continent a Winning Hand?” – framed discussions around economic governance, industrial strategy, and the acceleration of the African Continental Free Trade Area. (TV BRICS/NAN)

Edited by Emmanuel Yashim

FG affirms commitment to creating sustainable environment for private sector

Philip Daniel Yatai
Feb, Mon, 2025

Economy/Business

FG affirms commitment to creating sustainable environment for private sector

291 total views today

By Vivian Emoni

The Federal Ministry of Industry, Trade and Investment has expressed commitment to creating a sustainable environment for the private sector and other stakeholders to compete favourably and drive economic growth and productivity.

Dr Jumoke Oduwole, the Minister of Industry. Trade and Investment, made the commitment at a retreat for presentation of the 2025 roadmap in Abuja on Monday.

Oduwole said that the goal of the ministry was to facilitate the creation of wealth, productive jobs and share prosperity for all Nigerians.

“As a ministry, we prioritise creating a dynamic, resilient and sustainable economy by positioning the private sector for productivity and competitiveness.

“We have repositioned ourselves to deliver empirically verifiable policies and reforms based on transparently laid down goals which improved the ministry’s performance in 2024,” she said.

The minister said that everything the agencies under the ministry presented at the retreat was already in the budget, adding that it was not coming as a surprise.

She urged all the Ministries, Department and Agencies (MDAs) to work together as such effort would help to achieve the ministry`s goals.

On his part, the ministry’s Minister of State, Sen. John Enoh, said that the gathering was to discuss problems and also to look at solutions to the problems.

Enoh said that the retreat would help to discuss how much the industry and trade can expand and improve to be able to promote investments.

“It is about performance. The work cannot be strong and efficient without effective commitment, I think we all need to be ready for that.

“We need to put more effort to ensure that the mandates and objectives of the ministry are achieved,’’ he said.

The Director-General, Presidential Enabling Business Environment Council, Princess Audu, said that the council was committed to reaching out to all relevant stakeholders to intensify in the business activities.

“We will be working hand in hand with the ministry to determine what levels of improved efficiency can be achieved in the quickest possible time.

“We want to identify areas where we can make a significant impact and work together to implement changes that will benefit the business community and Nigerians at large.

“I am also pleased to announce that our new Reform Impact Assessment (RIA) framework has been launched,’’ she said.

Audu said that the RIA framework was designed to ensure a level of consistency and predictability, as such would help the business grow appropriately.

She said that the framework enabled businesses to plan and forecast with the assurance of a stable business environment as it relates to policies and reforms.

The Director-General and Chief Trade Negotiator of the Nigerian Office for Trade Negotiations (NOTN), Amb.Yonov Agah, said that the office was expanding market access and eliminating barriers to Nigeria’s trade.

Agah said that trade negotiations had inherent risks, adding that they also have opportunities in various areas.

“It is important for Nigeria not to negotiate in a vacuum. Anything you are negotiating needs national frameworks.

“We need a national trade policy framework. We need the institutions, the regulatory environment to implement those agreements,’’ he said. (NAN)

Edited by Kadiri Abdulrahman

P-CNGi to establish CNG kits manufacturing park in Kogi

Philip Daniel Yatai
Jan, Fri, 2025

Oil & Gas

P-CNGi to establish CNG kits manufacturing park in Kogi

535 total views today

By Emmanuella Anokam

The Presidential Compressed Natural Gas Initiative (P-CNGI) says it will collaborate with a private sector partner in Ajaokuta, Kogi State, to establish a CNG Park to boost local content.

Mr Michael Oluwagbemi, Programme Director, P-CNGi, made this known on Thursday at the flag off of the Five Mini Liquefied Natural Gas (LNG) Plants in Ajaokuta, Kogi State.

“We are excited at the Presidential Compressed Natural Gas Initiative to witness Kogi State’s transformation into a major gas hub,” he said.

Oluwagbemi said the CNG park would be established for local manufacturing of conversion kits, job creation, building skills and reduction on imports dependence.

The News Agency of Nigeria (NAN) reports that the Nigerian National Petroleum Company Limited (NNPC Ltd.) and its partners flagged off the 97 million standard cubic feet of gas per day (mmscf/d) plants to deepen domestic gas utilisation.

The domestic gas utilisation is in line with the Federal Government’s Gas Revolution Agenda (GRA).

The groundbreaking ceremony signalled the commencement of construction works on the plants namely – NNPC Prime LNG, NGML/Gasnexus LNG, BUA LNG, Highland LNG and LNG Arete.

The event, themed ‘From Gas to Prosperity: Catalysing Nigeria’s Economic Growth’, marks a significant milestone in Nigeria’s journey to harness its natural gas resources for economic growth.

“Strategically located at the heart of Nigeria and bordering 10 states, Kogi is perfectly positioned to facilitate efficient and cost-effective gas distribution across the country.

“This groundbreaking LNG hub by the NNPC Limited and partners will undoubtedly catalyse this potential,” Oluwagbemi said.

He said that the P-CNGI had championed the transition to CNG as a cheaper, efficient and environmentally friendly alternative to petrol, since its establishment in 2023.

According to him, the goal is to convert one million commercial vehicles to CNG by 2027, with significant progress already made.

He said that over 190 conversion centres have been established, with 56 retail outlets dispensing CNG.

Oluwagbemi said that the conversion centres and the CNG dispensing outlets were established with combined public and private investments of over 470 million dollars.

“We aim to grow these numbers to 500 conversion centres and over 150 CNG retail outlets by year-end.”

Recognising the challenges of gas access in the North East and North West, he said Mini-LNG plants would play a critical role in bridging the gap, while awaiting the completion of the Ajaokuta–Kaduna–Kano (AKK) pipeline.

“I commend the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo and the Group Chief Executive Officer of NNPC Ltd., Malam Kyari, for driving this revolution.

“Your leadership is laying the groundwork for a sustainable energy future and solidifying Nigeria’s role as a leader in CNG and LNG adoption,” Oluwagbemi said.

The project, which is a multifaceted pipeline development, in line with the ‘Decade of Gas’ agenda will produce and deliver Condensate, LNG, Liquefied Petroleum Gas (LPG), CNG and increasing gas availability. (NAN

Edited by Emmanuel Afonne