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    Japaul plans to raise fresh funds as foreign investors indicate interest

    THERE are plans by Japaul Oil & Maritime Plc to raise fresh funds to boost its business, even as it cleans its balance sheet for the year 2015.

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    *A major power grid

    Nigerians groan under worsening power situation

    The increase in the spate of pipeline vandalism, particularly of gas pipelines in Nigeria’s oil-rich Niger Delta, has compounded the nation’s power supply situation. Generation capacity recently dropped to a new low of about 600 megawatts, MW, thus throwing many areas into darkness, as residents national complain of barely receiving up to three hours electricity supply daily Residents in some localities visited by Vanguard including; Satellite Town, Ijegun, Waterside at Oriade, Tipper Garage, Okokomaiko, Ojo, Ebuta Metta, Idimu, Surulere, Festac, Akoka, Palm groove, Oke arin at Lagos Island, Orile, Amukoko, Ajegunle, Oko-Afo, and Ile-Ipo, both along the Badagry Road, all complained of worsening electricity supply situation.

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    Local content: Indigenous, foreign companies battle over implementation

    A WHOLLY indigenous oil services company, Ofserv Nigeria Limited, said that the non-implementation of the local content law could deprive indigenous companies the benefits for which the law was passed. Ofserv made the observation following what it called the non-compliance with memoranda of understanding, MOUs, by some foreign companies operating in Nigeria.

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    PTDF partners Brazil on oil, gas R&D

    The Petroleum Technology Development Fund, PTDF, said it is going into partnership with some institutions in Brazil, for sponsorship arrangement on scholars’ tuition and research in various oil and gas disciplines. This is in a bid to address the challenges confronting the petroleum industry and further proffer solutions by improving learned capacity to enforce such development.

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    Unfunded JVs: Nigeria faces loss of 750,000 bpd

    Nigeria may lose up to 750,000 barrels of oil daily over the next nine years due to inadequate funding of joint venture, JV operations and the federal government’s policy, industry expert said. Speaking to journalists on the production outlook for the oil industry in Nigeria, an executive of one of the international oil companies, IOCs , who preferred anonymity, painted a bleak future for the nation’s oil and gas sector.

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    Okwuosa seeks multi-dimensional approach to curb pipeline vandalism

    Given the complexity of attacks, an industry expert, Mr. Emeka Okwuosa has called for the adoption of a multi-dimensional approach to effectively curb the resurgence of pipeline vandalism. Recent attacks on oil and gas pipelines have cost Nigeria almost half of its daily crude oil production, in addition to denying power generating plants the needed gas supply, thereby depressing the nation’s electricity output to a new low of about 600 megaawatts in the past week.

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    FG set to unveil Nigerian housing model- Fashola

    The Federal Government is set to unveil a Nigerian housing model that will be suitable and acceptable to all Nigerians. Minister of Power, Works and Housing, Mr Babatunde Fashola, who disclosed this at a forum in Abuja, said government is already working on the design in furtherance of the its housing policy. “A lot of work is going on and very soon you will see the result of that work. Let me be very clear; we are in a result business but I have learnt that it is results that are sustainable that become enduring.

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    FueledUp boss

    How we’ll sell fuel in Lagos using mobile app – FueledUp boss

    We have strong partnership agreements, which we can not disclose now, with the very best in the downstream oil and gas sector. This is to ensure reliability of products at the best market price as well as the authenticity of products sold. Also, we have the required man power and trucks available to carry out operations to meet consumers’ demand upon launch. We are approaching this with modern practices especially on delivery routines to ensure safety, security and reduce delays as a result of the heavy traffic flow in Lagos.

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    How to start a business with little or no funding

    So you tried everything and asked everyone, but nobody offered you a loan? Well, do not despair; others have started businesses in similar circumstances. Starting a business without outside funding is known as bootstrapping. In bootstrapping, the entrepreneur uses his or her personal savings, overdraft, or bond on their home. Most well- known successful business entrepreneurs like Bill Gates (Microsoft), Michael Dell (Dell computers), and Richard Branson adopted a combination of personal bootstrapping plans to start- off their businesses. To obtain maximum result, you need to use a combination of bootstrapping options to leverage every opportunity instead of focusing on one option.

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    MPC: Experts predict further hike in Monetary Policy Rate

    Economic experts have predicted that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will further raise the Monetary Policy Rate (MPR), in order to address rising inflation in the country. Some of them however opined that the Committee should adjust the foreign exchange policy to allow for efficiency in the foreign exchange market.

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    •Nicolaas Vervelde

    Why we’re investing in commercial production of sorghum, cassava – MD, NB Plc

    We maintained our contribution to the development of the agriculture value chain in Nigeria as parts of our focus on sustainable sourcing of raw materials. For instance, in 2015, 47.4 per cent of our raw materials were sourced locally. Hopefully by 2018 we should be able to achieve a benchmark of 60 per cent and Heineken, our parent company has a commitment that by 2020 we should be able to attain 99 per cent local sourcing of raw materials.

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