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    Macro-economic and business environment scoresheet- Lagos Chamber of Commerce

    The Lagos Chamber of Commerce and Industry recognizes the fact that the current economic situation is challenging. The global economic reality, fall in global oil prices, economic policy shortcomings and insurgency all play a very critical role in the weak economic performance of the country. In realization of these challenges, government efforts at stabilizing the economy are commendable. We commend government’s efforts in fighting corruption which has become endemic in our system.

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    Tunji Gomes

    Effective, efficient supply chain management boosts GDP of developing countries

    Goods rely heavily on several transport modes for movement from one location to another. The third quarter of 2015 Nigerian GDP report by the National Bureau of Statistics provided an insight into the contribution of each of the transport modes, to the share of the transportation and storage sector in the GDP. Over the first three quarters of 2015, rail, the most suitable for movement of heavy goods contributed 0%, road, the most commonly used mode contributed an average of 85%, water contributed an average of 0.66% and air an average of 7% (transport services, post & courier services made up the difference). This heavily skewed distribution already paints a picture of the kinds of challenges faced by logistics managers operating within these shores.

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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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