Business
Stakeholders Commend NCDMB’s Investment in Base Oil Plant
Key stakeholders of the oil and gas industry have commended the Nigerian Content Development and Monitoring Board(NCDMB) for catalyzing the development of critical oil and gas facilities, including Bunorr Integrated Energy Limited which would produce lube oil and other lubricants in-country.
The stakeholders gave their commendations when they toured the base oil manufacturing plant located near Omagwa, Rivers State. The project is one of the Board’s flagship projects and is expected to be commissioned later in the year the visit was in continuation of stakeholders’ tour of the Board’s projects, partnerships, and initiatives in the Niger Delta region.
Welcoming participants to the facility, the General Manager, Corporate Communication and Zonal Coordination, NCDMB, Dr. Ginah O. Ginah explained that the tour of the Board’s projects was conceived to enable critical stakeholders of the oil and gas industry to see the Board’s projects for themselves so they can fully appreciate the achievements and the huge impact on the nation’s economy.
He noted that the Board had continually promoted its projects and programmes using various media platforms and created necessary awareness over the years, however, there were huge benefits in bringing stakeholders to see the projects in real life and understand their benefits on the local economy as well as the role of communities and other stakeholders to the sustainable operations of the assets.
He hinted that the Board’s focused implementation of the Nigerian Content Act had ensured the increase of Nigerian Content performance from 5 percent in 2010 to its current level of 42 percent.
He also indicated that the Board had introduced a Community Content Guideline (CCG) and one of the objectives of the policy is to establish critical infrastructure in communities to attract development. According to him, Bunorr Integrated Energy Limited fits perfectly into that objective of the CCG, as the facility has had positive effects on Omagwa and neighbouring communities by providing employment, entrepreneurial skills and jobs for the locals and creating a friendly environment for more oil and gas industry activities to thrive while engendering sustainable peace in the region.
In his remarks, the founder and chairman of the base oil plant, Dr Mason Oghenejobo indicated that the oil and gas green energy company will be fully operational by the second quarter of the year, with a plan to blend waste oil to get other derivatives of other lubricants. While fielding questions from stakeholders, he stated that NCDMB owns 45 percent equity in the plant while its original founders have a 55 percent stake. He said the Board was attracted to invest in the project because of the immense benefits of converting used oil to lubricants, which saves enormous capital flight, creates employment and contributes to societal development.
He lauded the Board for modelling a structure, governance process and control that has improved the company and set it up on a growth path. He also praised the Omagwa community for their peaceful disposition which has culminated in the benefits the community has derived from the firm, including employment, procurement and several other contracts. He envisioned the company’s growth from 200,000 litres per day plant into an integrated plant of other derivatives of base oil for expansion into the African market for energy self-sufficiency.
In his comments, the Rivers State Commissioner of Information and Communications, Pastor Paulinus Nsirim who spoke through his Permanent Secretary, Barr. (Mrs.) Ibiware Clapton-Ogolo expressed satisfaction with the Board’s commitment to supervise and monitor the project to completion. He stated that “everyone witnessing this project will be impressed that some government officials do their jobs creditably, contrary to the widespread belief that government agencies are lethargic to their duties. This is a clear demonstration that there are people in government who are responsible and accountable.”
Also speaking, the President of the Port Harcourt Club – 1928, Mr. Soe Dikibo expressed his amazement at the facility and its partnership with NCDMB. He noted that the Board’s plan to fabricate most of the plant’s equipment in-country is commendable.
A journalist and President of the Rotary Club of Port Harcourt – Garden City, Mr. Precious Ahiakwo-Ovie also lauded the Board for its numerous development strides and for affording stakeholders first-hand opportunity to be enlightened on the Board’s programmes. He extolled the increase of Nigerian Content from the initial 5 percent at the passage of the NOGICD Act in 2010 to the current level of 42 percent and the projection to hit 70 percent by 2027.
Corporate Communications
March 10, 2022
Nigerian comedian and popular skit maker, Chibuike Josh Alfred, known by his stage name Josh2Funny, has shed light on the profitability of the content-creating industry.
In a recent interview with Echo Room, Josh2Funny highlighted the impressive financial potential that content creators can achieve, noting that it is possible for them to comfortably afford multiple luxury cars, including up to four Lamborghini vehicles.
Speaking candidly, Josh2Funny emphasised that content creation has become an extremely lucrative field due to the constant demand for fresh and engaging material. “If you want to buy four Lamborghini from content creation, you can buy it,” he said.
His remarks underscore the significant revenue opportunities available in the digital content landscape.
Josh2Funny explained that the continuous consumption of online content is what drives its profitability. “What do you think we are doing in the content-creating industry? Are we joking? You all are with your phones, when you’re in the bathroom, when you’re [using the restroom], you’re consuming our stuff. It’s like pure water,” he stated.
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The comedian further elaborated that businesses or industries that deliver products consumed on a daily basis often see the most substantial financial returns. Content creation, with its high rate of daily consumption by audiences worldwide, aligns perfectly with this model.
“People are out there, consuming our content every time,” he said, reinforcing the idea that the reach and influence of content creators have never been more extensive.
Josh2Funny’s insights reveal why the content-creating industry has become a lucrative career path for many in Nigeria and around the world. With the continuous growth of social media platforms and the public’s insatiable appetite for entertainment and relatable content, creators are finding new and innovative ways to monetize their craft.
This shift not only highlights the potential for significant financial gain but also showcases the evolving landscape of digital media, where influencers, comedians, and skit makers can turn creativity into a sustainable and highly rewarding business.
A safety alert notification by the National Agency for Food and Drug Administration and Control (NAFDAC) in Nigeria issued on October 31, 2024, regarding NIVEA BLACK & WHITE Invisible Roll-on deodorant (50 ml) batch number 93529610, in relation to the general European Union (EU) Rapid Alert System for Dangerous Non-Food Products (RAPEX), has come to our attention.
The batch is said to contain 2-(4-tert-Butylbenzyl propionaldehyde (BMHCA).
In a statement on Saturday, in Lagos, Beiersdorf, the owner of NIVEA brand, assured that the “the Batch No. 93529610 in question has not been marketed in Nigeria and thus never recalled”.
According to the statement, Beiersdorf was well informed that “Based on current European legislation, the use of ingredient 2-(4-tert-Butylbenzyl propionaldehyde (LilialTM) in cosmetic products has been banned from the European markets as of March 1, 2022.”
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It acknowledged that “The batch in question, in fact, expired in January 2022 and was hence at the time fully compliant with the then valid European cosmetic regulation.
“As a responsible corporate citizen, Beiersdorf is working collaboratively with NAFDAC to safeguard the interest of the Nigerian consumers by ensuring that our locally manufactured product meets the global quality standards.”
It maintained that “The safety of our consumers remains our highest priority, consistent with our ethical philosophy as a business.”
In pursuit of this commitment, Beiersdorf’s entire NIVEA product portfolio formulations have been reformulated to be Lilial-free formulas in full compliance with the EU Regulation on cosmetic products well ahead of its Lilial ban coming into effect as far back as March 1, 2022. For instance, the formulation of NIVEA BLACK & WHITE Invisible Roll-on deodorant has been Lilial-free since at least 2020 across the globe, including Nigeria.
“Our trade partners were informed ahead of time and reminded of their responsibility to remove the outdated Lilial-containing products within the legal timeframe to fulfill their obligations with the European Cosmetic Product Regulation,” it added.
The Shell companies in Nigeria teamed up with the Nigerian National Petroleum Company Limited (NNPC Ltd) and other stakeholders to build Information Communication Technology (ICT) centres and a digital library in Nigerian universities in 2024.
Biztellers reports that it initiative is part of their continuing support for education.
Some of the corporate bodies that executed the projects include the Shell Nigeria Exploration Production Company Limited (SNEPCo) and NNPC Ltd, and the Nigerian Content Monitoring and Development Board (NCDMB).
The benefiting institutions were, the Niger Delta University, Amassoma, Bayelsa State, which got a digital library in April, the Sa’adu Zungur University (formerly Bauchi State University), Gadau in Bauchi State, where an ICT Centre was commissioned in July, by The Shell Petroleum Development Company of Nigeria Ltd (SPDC) as part of the Joint Venture with NNPC, TotalEnergies and NAOC.
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In what would sound like singing-off on the educational intervention initiative for 2024, the Federal University of Technology, Owerri (FUTO), overflew with joy at the unveil of a world-class engineering design studios and ICT hub, courtesy of the SPDC, NNPC Ltd and other Joint Venture partners collaborated with NCDMB.
Reflecting on the three facilities, Country Chair, Shell Companies in Nigeria, and Managing Director, SPDC, Osagie Okunbor, said, “This is Shell working to power lives in Nigeria. The projects have changed the academic and physical landscapes in the three universities and linked the students and lecturers to the global learning arena.”
The facilities at FUTO include two state-of-the-art engineering design studios and a fully furnished 100-seater ICT lecture hall, equipped with computers and smartboards with dedicated power and water supplies. FUTO was selected for the project as part of the “institutional strengthening” in the catchment area of SPDC’s Assa North Ohaji South Gas Development Project. They were launched at a colourful ceremony attended by representatives of the Imo State Government and principal officers of the university.
Imo State Governor, Hope Uzodinma, represented by the Commissioner for Digital Economy and E-Government, Dr. Chimezie Amadi, said, “We deeply appreciate the efforts of our partners in NNPC, SPDC, Total Energies, and NAOC JV, who have invested in the future of Imo State by supporting this critical project. Your commitment to human capacity building aligns perfectly with our goals, and together, we will continue to drive innovation, skills development, and sustainable economic growth for our people.”
Okunbor’s address at the commissioning was read by General Manager, External Relations, Igo Weli, in which he expressed happiness “that the collaboration of SPDC, Joint venture partners, NCDMB, and FUTO has resulted in this successful social investment project that demonstrates our commitment to improving access to quality education for every Nigerian.”
On his part, the Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe, called on Nigerian institutions to domesticate the advancements in AI and other technologies.
“Our AI must understand Igbo, Hausa, Efik, Yoruba, and other local languages,” he said, speaking through Dr. Ama Ikuru, the Director in charge of Capacity Building.
“We must leapfrog the innovations of other nations and become a net exporter of advanced technology to achieve the lofty ideals of Nigerian content development,” he added.
The Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Bala Wunti, said in his address which was read by the Senior Advisor Stakeholders Relations, Halimat Wilson, “Innovation thrives in an environment where ideas can be freely exchanged and developed. The Engineering Studio and ICT Hub is designed to be such a place where students, researchers, and faculty can collaborate on projects, share knowledge, and push the boundaries of what is possible.
Welcoming guests earlier, FUTO Vice Chancellor, Prof Nnenna Oti, thanked the sponsors of the project “for a landmark donation” to the university.
The Shell Companies in Nigeria have been education since the 1950s through scholarships and other initiatives. These efforts have resulted in the award of thousands of secondary, undergraduate and postgraduate scholarship awards, provision of educational infrastructure and establishment of sabbatical and internship programmes as well as centres of excellence in several universities.
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