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NCDMB, BOI sign amendment of MoU on $50m NOGaPS manufacturing fund

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The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BoI) have signed an amendment to the  Memorandum of Understanding (MoU) on the $50million NOGaPS Manufacturing Fund.

The Fund was created by the NCDMB and domiciled with BoI to attract oil and gas equipment manufacturers to the Nigerian Oil and Gas Parks Scheme (NOGaPS) facilities established by the NCDMB, and increase access to affordable finance by the manufacturing entities.

The signing of the amended MoU took place in Lagos on Friday at the 2023 second quarter Review Meeting of the Nigerian Content Intervention Fund (NCIFund).

In his remarks, the Executive Secretary, NCDMB, Engr Simbi Kesiye Wabote underlined the tremendous success of the NCIFund in catalysing capacity development and investments in the Nigerian oil and gas industry.

He hinted that the Fund serves as a model for local content practice across the African continent and inspired the creation of the African Energy Bank by the African Petroleum Producers Organization (APPO), in partnership with the African Export Bank (Afreximbank).

He added that countries like Angola and Namibia are currently engaging the Board, with a view to understand the workings of the NCI Fund, so as to replicate same in their jurisdictions.

In Wabote’s  words: “Today, Angola is thinking of establishing a similar credit line for their oil and gas companies. I think the parliament recently approved some sum of money for them to manage in that respect. Namibia is planning to do the same with the potential enactment of a Local Content Act.”

Wabote further commended the Bank of Industry for the successes being recording in the management of the NCI Fund, assuring that the Board will continue to look for other opportunities to increase its partnership with BoI.

He said, “Considering the effectiveness and success recorded by BoI, NCDMB may consider inviting BoI to send a nominee that will act as independent Director to the Board of Directors of some of the companies that we have invested equity in. This will help them overcome some of the prevailing issues around governance, liquidity and technical optimisation.”

On his part, the Managing Director of the Bank of Industry, Mr Olukayode Pitan expressed confidence in the future performance  of the Board’s funds  domiciled in the bank while noting that these quarterly review meetings will impact on sustaining the effective disbursements and recovery of these funds.

According to him, the NCI Fund is performing excellently with 194 applications equalling US$1 billion /¦ 80.6 billion with 69 disbursements totalling US$324 million /¦ 38.4 billion as at the day of reporting.

The Board established the NCI Fund in 2018 with the purpose of financing Oil and Gas companies to increase capacity and grow Nigerian Content in the Industry Presently, the NCI Fund has five product lines which are being managed by the Bank of Industry. They include – Manufacturing Finance -$10m; Asset Acquisition Finance -$10m; Contract Finance -$5m; Loan Refinance -$10m and Community Contractor Finance – ¦ 20 million.

The US$50 million NOGaPS Fund was launched as a separate product in March 2023 to incentivise companies that will be domiciled and manufacture oil and gas equipment components within the NCDMB oil and gas parks being established at different locations across the country, with the sites in Bayelsa and Cross River State open for occupation.

The Board also has a US$30 million Working Capital Fund for oil and gas service companies and US$20m Fund for Women in Oil and Gas Intervention Fund. The last two facilities are administered by the Nexim Nigerian Export-Import Bank and the agreements were signed in mid-2021.

Energy

TCN overhauls equipment for improved electricity supply to Nigerians

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The Transmission Company of Nigeria (TCN), Shiroro region, says it is overhauling all its equipment for improved power supply across the region.

The General Manager of TCN Shiroro Region, Malam Maiwada Sarkin-Bello, disclosed this while addressing newsmen during a tour of TCN facilities at Shiroro power plant.

He said the company was constructing new control rooms in Shiroro and Kainji transmissions and replacing all obsolete equipment with new modern ones.

Sarkin-Bello added that the company had purchased additional 132/33KV 100MVA transformer for Minna Sub-station at the cost of N1 billion to address power outage within the metropolis.

He said the company constructed new 132KV from Zungeru power station switch yard to Tegina and construction of new control rooms at Shiroro.

Others were replacement of old equipment by World Bank, in-house replacement of old equipment at Jebba, upgrading of Minna Sub-station with additional 132/33KV 100 MVA.

He added that six new 330KV current transformers on bus coupler at Jeba transmission station were purchased and new 330KV circuit breakers on Jebba-Kainji line 2 circuit were installed.

Also new 330KV circuit on Jebba-Gamo line was installed while vandalised tower members on T69, T70 and T71 on 132 Minna-Suleja circuit and two faulty 132KV CVT on Minna-Suleja line one and two yellow phases were replaced

He said the company constructed new open air stores for out-door equipment at Faku, obsolete protection relay with modern numerical relays on 330KV was replaced in addition to maintenance of power transformers on annual schedule.

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Energy

TCN begins expansion, upgrade of facilities in Benin region

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The Transmission Company of Nigeria (TCN), Benin region, says it has embarked on a series of projects aimed at grid expansion and upgrade in the sub region.

Mr Isaac Okpe, General Manager, TCN, Benin region, stated this in Benin on Friday, while briefing newsmen after a tour of the region, sub region and Ihovbor work centre.

He said that the project was part of measures to intensify electricity transmission in Edo, Delta and parts of Ondo and Ekiti states.

Okpe said the Benin sub region was one of the most important regions, a hub of the national grid,

The TCN boss said that the company started the expansion and upgrade at Ihovbor work centre in Edo, Sapele work centre, Delta, and Omotosho sub region, Ondo.

“The Transmission Company of Nigeria has embarked on a series of projects aimed at grid expansion and some of the ongoing expansion projects are as follows.

Benin Sub Region – Project expansion and upgrading project of 2x150MVA to 2×300 MVA 330/132kV power transformer.

Benin Sub-Region – Restoration of T2 40 MVA transformer at Okada 132/33kV line following the installation of 300KVA grounding transformer.

Omotosho Sub Region – Project expansion at Ondo TS, upgrading of 2x 30MVA to 2x 60MVA commissioning of new 2x40MVA power transformer at 132/33KV line at Erinje Sub-Station currently undergoing testing by NPDH.

The general manager further said that other areas of expansion included; Delta Sub Region, Ongoing upgrade and expansion of 1x185MVA power transformer at Ughelli 132/33kVA line.

“And an upgrade of 1x60MVA to 100MVA power transformer and commissioned 150MVA 330/132kV inter bus transformer at Ughelli last year,” he said.

Okpe, however, lamented that encroachments on TCN lines and acts of vandalism in the region had been the major challenges facing the company and hindering quality service delivery

“The major challenge we are having is encroachment on our lines. So many people are building churches, shops and houses under the lines.

“And this is a major threat and a major risk on their part. Even in areas people have been compensated for their lands acquired, they come back and built there, claiming that they were not compensated.

“This is a threat to the lives of those who stay in such places. People should not build under transmission lines.

“Vandalism is another challenge. People deliberately go to the lines and cut them expecting them to collapse,” he added

Okpe said that about eight people had been caught in the act of vandalism and are currently being  prosecuted in different law courts across the region.

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REA, NASEIN sign $150m battery manufacturing agreement

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The Rural Electrification Agency (REA)  and the National Agency for Science and Engineering Infrastructure (NASENI)  has signed a 150 million dollars battery manufacturing agreement with Chinese investors.

Malam Mutari Ibrahim, the Director Promotion and Outreach (PIO), REA said this in a statement issued in Abuja on Friday.

Ibrahim said that the agreement was signed with SHENZEN LEMI Technology Development Company.

He said that the agreement was signed  under the leadership of the Ministry of Power and the China Ministry of Ecology and Environment as part of the takeaway by Nigeria from the COP 28 in Dubai

According to him, the partnership will facilitate the establishment of a Lithium-Ion Battery manufacturing and processing factory in Nigeria.

”The initiative which is backed by a 150 million  dollars investment from LEMI is  scheduled to commence in phases, starting from the 2nd quarter of 2024.

”The China Ministry of Ecology and Environment, in collaboration with the Ministry of Power expressed enthusiasm for being part of this transformative agreement.

‘The signing of the cooperation agreement is anticipated to serve as a pioneer initiative for the Light and Belt Initiative in Africa, aligning with global efforts to drive climate technology development and transfer,” he said.

Ibrahim said that the collaboration would strengthen NASENI’s mandate under the agency’s new leadership to manage the research and development of capital goods, production and reverse engineering to enhance local mass production of standard parts.

He said that the agreement would also enhance services for the nation’s technological advancement with a special focus on the  electricity sector.

”Furthermore, the collaboration underscores REA’s commitment to bridging the climate technology gap and combating the adverse effects of climate change.

“It also aligns with the country’s ambitious goals of achieving universal electricity access by 2030 and netzero emissions by 2060,” he said.

Ibrahim said that the partnership was  aimed at fostering the development and transfer of climate technology,
promote indigenous industrialisation and facilitate commercialisation.
”Enhance public private cooperation and contribute to job creation, economic growth, and the extractive industry in the country.
”Recognising the crucial role of energy storage in the transition to renewable energy sources, the investment in Lithium-Ion energy storage manufacturing signifies a significant step towards achieving a low-carbon economy.
”Research indicates that Lithium-Ion
energy storage has the potential to reduce CO2 emissions by more than 20 per cent per Kilo Watts per hour (KWh) capacity compared to traditional lead-acid technology,” he said.
According to him,  REA and NASENI remain steadfast in their commitment to cultivating partnerships that
accelerate clean, innovative, and sustainable energy interventions.
”it is also committed to Contributing to the global pursuit of a greener and more sustainable future,”
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