Connect with us

Business

17 New Oil Blocks Up For Grabs Via Bidding

Published

on

PIA: IOCs push for contract sanctity, security of oil pipelines

There would be additional 17 deep offshore oil blocks to the 2024 Licensing Round for oil fields in Nigeria.

Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed this at the pre-bid conference for the 2024 licencing round in Lagos, on Tuesday.

Providing updates on the 2022/2023 and 2024 licencing rounds, Komolafe, had in a statement he signed and issued in Abuja same day, revealed that 17 deep offshore blocks have been added to the 2024 Licensing Round.

He said, “In pursuit of the commission’s commitment to derive value from the country’s abundant oil and gas reserves and increase production, the commission has been working assiduously with multi-client companies to undertake more exploratory activities to acquire more data to foster and encourage further investment in the Nigerian upstream sector.

“As a result of additional data acquired in respect of deep offshore blocks, the commission has added 17 deep offshore blocks to the 2024 Licensing Round. Further details on the blocks can be found on the bid portal.”

Offering graphic details, Komolafe stated thus, “by the published guidelines, we had earlier indicated that some of the assets on offer should be applied for as clusters, namely: PPL 300-CS & PPL 301-CS, PPL 2000 and PPL 2001. Bidders are hereby advised that they may, at their option, bid for those blocks as clusters or as single units.”

For clarification, he said bidders should refer to the Frequently Asked Questions Sections of the 2022/23 and 2024 Licensing Round portals, or contact the upstream regulatory agency.

The NUPRC boss also disclosed that to allow interested investors to take advantage of the expanded opportunities, the 2024 Licencing Round schedule had been amended.

“Registration/submission of pre-qualification documents which was initially scheduled to close on June 25, 2024, has been extended by 10 days and will now close on July 5, 2024.

“Data access/data purchase/evaluation/bid preparation and submission which was initially scheduled to open on July 4, 2024, and close on 29/11/24 will now start on July 8, 2024, and close on 29/11/24 as previously scheduled.

“All other dates in the published 2024 licencing round schedule remain the same unless otherwise communicated,” he added.

He stated that to vacate entry barriers, the commission had sought and obtained the approval of President Bola Ahmed Tinubu, who, in his capacity as petroleum minister, approved attractive fiscal regimes and also minimised entry fees for both licencing rounds by putting a cap on the signature bonus payable for the award of the acreages.

According to him, “Consequently, it is necessary to ensure that the same bid criteria (in addition to the uniform signature bonus criteria) are applicable for both licencing rounds, to promote transparency and provide a level playing ground for all bidders.

“Since the criteria for the award of the oil blocks are now much more attractive than they initially were during the 2022/23 Mini Bid Round, it is in the interest of equity and fair play to give all investors the same opportunity to bid for the assets,” Komolafe stated.

Based on this, he declared that all blocks in the 2022/23 and 2024 Licencing Rounds were now available to all interested investors the websites developed for the exercise by the NUPRC, adding that the 2022/23 Mini Bid Round registration phase had been reopened to new applicants.

“The public is therefore invited to take advantage of this development and attractive entry terms and conditions and participate in the exercise.

“However, all the pre-qualified applicants published on the 2022/23 Mini Bid Round portal will not be required to go through a new pre-qualification process, as their technical submissions remain valid and eligible even for the 2024 Licencing Round.

“They may, however, wish to re-submit new commercial bids to take advantage of the more attractive criteria applicable to both licencing rounds and revise their bid bonds to adapt to the new bid criteria. They are also free to bid for blocks on offer in the 2024 Licencing Round,” Komolafe stated.

Recall that some deep offshore blocks had been put on offer for the 2022/23 mini-bid round, among other blocks cutting across onshore.

Continental shelf and deep offshore terrains were also put on offer for the Nigeria 2024 Licencing Round.

Precisely on May 8, the Nigerian Government invited investors to bid for 12 oil blocks and seven deep offshore assets in the 2024 marginal fields bid round.

In addition, on June 12, 2024, it was reported that the Federal government had increased the number of oil blocks on offer in the 2024 marginal bid round.

Business

Dangote Cement Unveils Sustainability Milestones

Published

on

The Dangote Cement Plc has unveiled a robust sustainability scorecard that underscores its commitment to responsible growth, as the company positions environmental, social and governance (ESG) principles as being the heart of its drive towards becoming Africa’s most sustainable and globally competitive cement manufacturer

The company reaffirmed to shareholders and other stakeholders its commitment to sustainable industrialization, while outlining sustainability strategies that align with the broader Dangote Industries Limited (DIL) Vision 2030.

Presenting the company’s 2025 Sustainability scorecard at its 17th Annual General Meeting in Lagos, Chairman of Dangote Cement Plc, Mr. Emmanuel Ikazoboh highlighted how sustainability has evolved in the Company from a compliance requirement into a core business strategy that supports growth, resilience and long-term value creation across Africa.

ALSO READ: NCDMB, Lobosway Train 50 in Data Analytics, Business Intelligence

As part of its decarbonization agenda, the company in 2024 approved plans to further reduce net carbon dioxide (CO₂) emissions intensity by 20 per cent, while accelerating the transition to cleaner transportation. “By 2027, all fleet trucks operating in Nigeria—except at the Gboko plant—will run on Compressed Natural Gas (CNG), with electric trucks scheduled for introduction in 2026” he stated.

The Cement giant also announced plans to strengthen its position as Africa’s leading cement exporter through expanded port infrastructure at Apapa, Onne and Lekki, while pursuing capacity expansion programmes that will increase installed production capacity to 80 million tonnes per annum (MTPA) by 2030, including new footprints in Botswana and Zimbabwe. These initiatives support Dangote Group’s Vision 2030 ambition of building a globally competitive industrial powerhouse rooted in sustainability and innovation.

On its people-centred growth sustainability drive, Dangote Cement reported significant progress in human capital development and social impact, creating 625 direct green jobs across its operations while increasing social investment spending by 56 percent. Graduate trainee recruitment also rose by 74 percent, underscoring the company’s commitment to nurturing the next generation of African industrial talent.

Supporting this commitment, the company invested ₦2.1 billion in employee training and development, reinforcing its ambition to become the employer of choice across its operating countries by fostering a high-performance and inclusive workplace culture.

On Climate action, the company reported measurable progress in reducing its environmental footprint, achieving a 6.5 percent reduction in CO₂ emissions intensity from its 2021 baseline. Energy efficiency also improved, with energy intensity reduced by 1.7 percent and overall energy consumption declining by 4 per cent. Water consumption fell by 8 per cent during the period under review.

These environmental achievements build on Dangote Cement’s decarbonisation strategies such as the use of alternative fuels, energy efficiency and reduction in clinker factor which integrates climate objectives into long-term capital investment decisions and positions the company among Africa’s leading industrial players in the transition towards a low-carbon economy.

In the governance space, Dangote Cement enhanced its ESG risk management framework through the onboarding of an Artificial Intelligence Risk Management Policy, Biodiversity, Disability Inclusion policy and the integration of 297 local vendors into its ESG-focused supply chain programme.

Amid excitement from the shareholders, the company boss noted that sustainability governance has matured significantly over the past decade, with executive accountability mechanisms, climate risk oversight and ESG performance management now firmly embedded within operational and strategic decision-making processes.

He also spoke on circular economy and biodiversity during which he highlighted major achievements in resource stewardship and environmental conservation. According to him, Dangote Cement has intensified the expansion of its DangCircular initiative, which promotes waste reduction, recycling and circular economy practices across its operations. “The company co-processed more than 437,000 tonnes of waste as alternative fuel, reducing dependence on conventional fossil fuels while improving resource efficiency.”

In a major biodiversity initiative, during the 2025 financial year the Company launched the Dangote Tree-to-Forest Programme across all operational locations. The programme aims to afforest 200 hectares of land in each country of operation over five years through the planting of 700 trees per hectare, reinforcing efforts to restore ecosystems and strengthen climate resilience through carbon sequestration.

Reflecting on the company’s sustainability evolution, Dangote Cement traced its journey to 2017 when it established the Dangote Seven Sustainability Pillars and began reporting in line with Global Reporting Initiative (GRI) standards.

Since then, the company has introduced sustainability champions programmes, executive ESG accountability systems, climate disclosure frameworks, alternative fuel projects, biodiversity restoration initiatives and enterprise-wide sustainability policies that have progressively integrated ESG considerations into every aspect of the business.

The company’s climate governance efforts have also resulted in improved ESG ratings with internationally recognised disclosure bodies such as the Carbon Disclosure Project (CDP). Currently the company has scored a B in climate and water security disclosures. The company has also committed to voluntary adoption of the IFRS Sustainability Standards before it becomes mandatory.

Dangote Cement management declared sustainability as the Engine of Vision 2030 pointing out that its sustainability roadmap is a critical enabler of Dangote Industries Limited’s Vision 2030 and serves as the mechanism through which industrial expansion is aligned with environmental stewardship, social progress and corporate resilience.

According to the company, sustainability creates strategic value by ensuring workforce development keeps pace with industrial growth, climate objectives guide investment decisions, governance strengthens enterprise resilience, and natural capital protection supports long-term business continuity.

“Growth with embedded sustainability creates enduring industrial leadership,” the company noted, stressing that its roadmap operationalizes Vision 2030 by translating ambition into practical priorities across people, climate, systems and nature.

Africa’s leading Cement manufacturer said it remains committed to leading positive change by combining industrial expansion with responsible business practices, reinforcing its position as a key driver of Africa’s infrastructure development, economic transformation and environmental stewardship.

As Dangote Cement accelerates its transition toward a low-carbon, technology-driven and export-led business model, the company said it remains well-positioned to deliver sustainable long-term value for shareholders.

Ikazoboh said “As we build Africa’s largest and most sustainable cement business, we are creating a platform for long-term growth, resilience and shareholder value. Our sustainability strategy is not separate from our business strategy—it is the foundation upon which we will achieve Vision 2030. We invite investors to join us as we expand our footprint, deepen our export leadership, and shape the future of sustainable industrialisation across Africa.”

Continue Reading

Business

NCDMB, Lobosway Train 50 in Data Analytics, Business Intelligence

Published

on

NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

The Nigerian Content Development and Monitoring Board (NCDMB), in collaboration with Lobosway Global Resources, has concluded a five-day training programme on Data Analytics and Business Intelligence for 50 beneficiaries in Abuja.

The training, held from June 29 to July 3, 2026, was designed to equip participants with practical skills in data collection, analysis, data visualisation and the use of business intelligence tools to support informed decision-making in the digital economy.

At the closing ceremony, certificates of participation were presented to the 50 beneficiaries by the Executive Secretary of Lobosway Global Resources, Nzewi Lynda Chisom.

ALSO READ: OPEC+ Raises Quotas Again as Middle East Calms

According to the organisers, the programme was aimed at preparing participants for employment opportunities while enhancing their capacity to help organisations leverage data for business growth, innovation and improved decision-making.

They added that the initiative aligns with ongoing efforts to build digital skills and strengthen the capacity of Nigeria’s workforce in data-driven industries.

Continue Reading

Business

Dangote Cement Shareholders Earn N3.3 Trillion Dividend in 15 Years

Published

on

Shareholders of Dangote Cement Plc are set to receive a record dividend of N45 per share for the 2025 financial year, which represents a 50 percent increase over the previous year’s payout.

Biztellers reports that it also reinforces the company’s position as one of the most rewarding investments on the Nigerian capital market, as it has now distributed over N3.3 trillion in dividends to shareholders over the last 15 years, underscoring its unwavering commitment to creating sustainable value for investors.

The latest dividend announcement reflects the strength of Dangote Cement’s business model, its resilient financial performance, and its disciplined approach to balancing expansion with superior returns to shareholders. Over the years, investors have benefited not only from robust dividend payments but also from significant capital appreciation in the company’s stock.

Speaking on the company’s commitment to value creation, Chairman of Dangote Cement, Emmanuel Ikazoboh, reaffirmed the company’s determination to deliver consistent returns while maintaining the highest standards of corporate governance and operational excellence.

“Our commitment remains to create sustainable value for all stakeholders. We are proud of the confidence reposed in us by our shareholders over the years, and we will continue to pursue strategies that enhance profitability, strengthen corporate governance, and deliver superior returns on investment,” he said.

The company’s dividend history has become one of the most impressive on the Nigerian Exchange. Dangote Cement previously increased its dividend by 50 per cent from N20 per share to N30 per share, demonstrating a consistent track record of rewarding shareholders even in challenging economic conditions.

On his part, Dangote Cement’s Group Managing Director/Chief Executive Officer, Arvind Pathak, noted that the company’s growth strategy remains firmly anchored on expanding production capacity, improving operational efficiency, and strengthening its pan-African footprint.

ALSO READ: Nigeria’s IEA Membership Tickles Minister

Commenting on the Board’s decision to increase the dividend payout to N45 per share, Pathak said: “The decision to increase our dividend by 50 percent to N45 per share demonstrates the strength of Dangote Cement’s earnings capacity and cash generation capability. As we continue to execute our pan-African growth strategy, we remain committed to creating lasting value for our shareholders, investing in the future of the business, and supporting Africa’s industrial development. Our shareholders have stood by us throughout our journey, and we are delighted to reward that trust with another significant increase in returns.”

According to him, Dangote Cement aims to expand installed capacity to 80 million tonnes per annum by 2030, supported by strategic investments across Africa. “In 2025, we marked a milestone with the successful commissioning of a 3Mta grinding plant in Cote d’Ivoire, strengthening our presence in West Africa. With this addition, Dangote Cement now operates fully commissioned assets in 11 African countries, with total installed capacity of 55Mta-comprising 33.5Mta in Nigeria and 19.7Mta across our pan-African operations”

Pathak emphasized that the company remains focused on its vision of making Africa self-sufficient in cement and clinker production while maintaining strong returns for shareholders.

The company’s remarkable dividend record highlights the success of its long-term growth strategy, which has seen it evolve into Africa’s largest cement producer with operations spanning ten African countries. Through continuous investments in capacity expansion, logistics, energy efficiency, and innovation, Dangote Cement has consistently strengthened its earnings profile and market leadership.

Market analysts say the increase in dividend payout to N45 per share sends a strong signal of confidence in the company’s future earnings prospects and underscores management’s commitment to shareholder wealth creation. The milestone dividend distribution further cements Dangote Cement’s reputation as a premier blue-chip stock and a benchmark for value creation on the Nigerian Exchange.

As the company continues to execute its expansion strategy across Africa, shareholders are expected to remain key beneficiaries of its sustained growth, operational excellence, and long-term commitment to delivering superior returns.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

0
Would love your thoughts, please comment.x
()
x