Connect with us

Business

Verdant Zeal acquires majority stake in Ghana, Gambian firms

Published

on

LAGOS – In a deal valued at about N100 million sealed Monday in Lagos, a leading Nigeria marketing communications company, Verdant Zeal Marketing Communications Limited, has extended its operations within the West African market.

Verdant Zeal acquired 60 percent stake in Brands and Products, Ghana and 70 percent stake in Mofix, Gambia – which makes the company majority stakeholder in these two marketing communication firms in Ghana and Gambia.

Following this landmark acquisition done among others through share purchase and transfer agreements, Verdant Zeal is now the first Nigeria indigenous marketing communications company to buy over and own majority stake in other foreign advertising agencies across the African continent.

With the acquisition, the former Brands and Products, and Mofix will now be known as Verdant Zeal Marketing Communications, Ghana and Verdant Zeal Marketing Communications, Gambia.

Tunji Olugbodi, group managing director (GMD), Verdant Zeal Limited, noted on Monday at the official signing ceremony that the process of this acquisition which has now been fully consummated has been on for about a year now.

Olugbodi said that next phase of expansion will focus on East Africa, specifically, Kenya, Uganda and Rwanda, adding that “with the thrust, Verdant Zeal is able to consolidate its growing influence and clientele across the West Coast as well as nurture emerging opportunities in the markets.”

“The Nigerian marketing communications industry has evolved as a dynamic and vibrant one over the years and we need to break new grounds. The industry needs to embrace new thinking and break new grounds to remain dynamic and forward looking. The time has come for the industry to embrace innovation more than ever before and remain vibrant and creative in addressing the needs of clients across the globe”, he added.

– BUSINESS DAY

2 Comments
0 0 votes
Article Rating
Subscribe
Notify of
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Go X app
7 months ago

917 220094Hi there, i just thought i would publish and now let you know your web sites style is genuinely smudged within the K-Melon browser. Anyhow sustain in the very great work. 251576

investigate this site
4 months ago

70119 52305Some times its a pain in the ass to read what blog owners wrote but this web site is very user friendly ! . 630717

Business

Adoption of AI Feature as NIPetGE Pays Courtesy Call at NNPC Ltd

Published

on

Enhanced adoption of artificial intelligence and other digital technologies to improve operations in Nigeria’s oil and gas industry is taking the centre stage in relevant circles.

The issue came up strongly when the President-elect of the Nigerian Institute of Petroleum and Gas Engineers NIPetGE, Prisca Kanebi, paid a courtesy call at the Nigerian National Petroleum Company Limited (NNPC Ltd), Abuja.

Biztellers reports that the Kanebi led delegation was received by the Group Chief Executive Officer of the NNPC Ltd, Bayo Ojulari, represented by the Executive Vice President, Gas, Power and New Energy, Olalekan Ogunleye.

According to a statement made available on Sunday, discussions at the meeting focused on the future of Nigeria’s hydrocarbon industry amid global energy transition concerns, technological changes and sustainability targets.

ALSO READ: NNPC Ltd, IOCs Raise Crude Supply to Local Refineries by 103% in 4 Months

The statement indicated that the NNPC Ltd acknowledged the role of NIPetGE in policy advocacy, technical development and innovation within the sector.

Speaking during the meeting, Kanebi highlighted recommendations from the institute’s recent conference, including the proposed establishment of a national centre for intelligent energy systems to support the deployment of artificial intelligence, the Internet of Things and robotics across the petroleum value chain.

She also commended the Federal Government’s decarbonisation efforts and reiterated the institute’s support for policies aimed at improving sustainability in the industry.

The institute also recommended the creation of a hydrocarbon-linked emissions trading system to allow Nigeria to take part in global carbon markets.

The institute also proposed fiscal incentives to support local manufacturing and service delivery in the oil and gas sector, as well as the expansion of the Energy Transition Plan to include measurable upstream decarbonisation targets backed by tax credits.

Other proposals included increased public-private partnerships in emission control infrastructure, carbon capture projects and hybrid renewable energy initiatives.

Both organisations also stressed the need for stronger collaboration between industry and academic institutions to improve professional capacity and align petroleum engineering practice in Nigeria with international standards.

The institute further disclosed that its bill seeking chartered status had passed second reading and was progressing towards a third hearing at the National Assembly.

It added that NNPC Ltd pledged support for future collaborations with the institute on initiatives aimed at improving efficiency and innovation in the energy sector.

Continue Reading

Business

FHC Orders NUPRC to Comply with PIA

Published

on

Continue Reading

Business

Local Firms Lead Revival of Idle Oil Wells – SPE

Published

on

Nigeria’s indigenous oil and gas companies are reopening dormant wells and ramping up production from assets acquired from international oil companies (IOCs) to boost crude oil output.

The Society of Petroleum Engineers (SPE), Nigeria Council, made the assertion through its Chairman, Francis Nwaochie, on the sideline of the Offshore Technology Conference (OTC) which ended at the weekend in Houston, Texas.
Nwaochie said indigenous operators were already taking advantage of opportunities created by disruptions in the global energy market to increase production from existing assets.

According to him, local firms that recently acquired onshore and shallow water assets from IOCs were aggressively reviving inactive wells and maximizing available infrastructure to raise output levels.

“What we are seeing now is that indigenous companies are reopening wells from the assets they acquired from the IOCs. Some of them have almost doubled production from those existing assets,”.

He explained that the renewed focus on dormant wells and existing facilities had become critical at a time the global oil market was facing supply shortages triggered by geopolitical tensions in the Middle East.

The SPE Nigeria Council Chairman noted that Africa, particularly Nigeria, was well positioned to benefit from the supply gap because of the continent’s relative stability compared to some other oil-producing regions.

“There is a huge opportunity for Africa right now. The focus is gradually shifting to Africa because of the volatile environment in many other producing regions.”

He stated that indigenous operators were leveraging digital technologies, financing opportunities and local expertise to improve production efficiency and optimise existing fields.

He added that stronger implementation of local content policies was also helping to create a more stable operating environment for oil and gas investments.

“Local content is very critical. Once communities and local companies clearly understand their roles and benefits, then you create peace across the industry. Business only thrives in peaceful environments.”

ALSO READ: Nigerian Navy Recovers Large Cache of Illegal Refined Petroleum Products

Nwaochie also stressed the need for Nigeria to move beyond crude oil production and begin developing indigenous technologies for the energy industry.

According to him, SPE Nigeria Council was actively supporting innovation and technology development among young Nigerian engineers and researchers.

He disclosed that the association was engaging the National Universities Commission(NUC) on reforms to engineering curricula in universities to better prepare graduates for the future of the energy industry.

“One of our major focuses in SPE is technology development. We should not only import machines and equipment, we must begin to develop our own technologies locally.”

Nwaochie revealed that SPE was already supporting local innovators working on technologies such as remotely operated underwater vehicles (ROVs), noting that indigenous technology development will strengthen Nigeria’s economy and deepen local participation in the oil and gas sector.

“We may not get everything right immediately but we must start somewhere. That is how countries that dominate the global energy industry built their capacities.”

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

2
0
Would love your thoughts, please comment.x
()
x