Business Briefs
By Sebastine Obasi & Dike Onwuamaeze
Monday, May 12, 2008
Gas Scarcity to End Soon
By Sebastine Obasi
Scarcity of gas in the domestic market will soon be a thing of the past. Oil companies operating in the country have been directed to work out a programme to deliver more gas for domestic use. The directive which came from the Department of Petroleum Resources, DPR, was also meant to end gas flaring.
Under the new directive, failure to supply gas to the domestic market, now attracts $3.5 per 1000 cubic standard feet, which is the equivalent of the gas flared on a barrel of oil produced.
Tony Chukwueke, director of DPR, said the directive would end gas flaring. For him, the measure will be more effective than official deadlines. "Companies will now react to the penalty, instead of giving a deadline which has not been adhered to in the past. So it is better for them to deliver the gas to the domestic market and get 50 cents for it than flaring and paying $3.5 fine," he said.
Before now, supply of gas for domestic use has been eratic. This has led to high cost of gas in the market. For example, 20 kilogramme of gas sells for N5000, while the 50 kilogramme type goes for N20,000. The liquefied natural gas project at Bonny, Rivers State, is mostly meant for export, without adequate provision for domestic supply. Again, deadlines and penalties imposed in the past for companies that flare gas, never worked, because they were not stringent enough to deter them.
New Appointments at Neimeth
Dike Onwuamaeze
Neimeth International Pharmaceuticals PLC has approved the appointment of three new directors. They are Chris Udalauku Mmeji, executive director, finance, and Elijah Ndajiya Sokomba and Godwin Eyanubere Omere who are non-executive directors.
The appointees are expected to enhance the ability of Neimeth to introduce new quality products and contribute to the organisation's overall strategy to maintain its foremost position in Nigeria's health care sector.
Mmeji who has over 30 years of experience in accounting, banking and the hospitality industry is expected to ensure adequate management of Neimeth's corporate finance and cash flow to sustain its current and future growth projections.
In the same manner, Sokomba will be bringing in his over 35 years experience as a university lecturer in pharmacology into the affairs of Neimeth, while Omene, a former deputy managing director of Shell Petroleum Development Company of Nigeria and pioneer managing director of Niger Delta Development Commission, will bring his wealth of experience in engineering set ups and systems to bear on the affairs of Neimeth.
Globacom Sponsors Abuja Fair
By Anthony Akaeze
For the second time, Globacome has sponsored the Abuja Chamber of Commerce, Industries, Mines and Agriculture, ABJCCIMA, international trade fair. Like it did last year, the company is partnering with ABJCCIMA to host the trade fair holding for the third time. The trade fair kicked off Friday, May 2.
Fidel Ndubuisi, managing director of Medalion Marketing, consultants to the chamber, said that Globacom had sealed the deal with the chamber due to the success of its participation and sponsorship of the 2007 edition.
Ken Hall, Globacom's sale director, reiterated the commitment of the company "to promote commercial activities in the country as this gives true expression to the company's commitment to empower Nigerians and enable them to rule their world."
E-shop Launched in Nigeria
By Rachel Ogbu
Nigerians yearning to acquire the good things of life in their original form can now do so in style. An outfit known as "e-Shop" has opened an internet-based market where Nigerians can order goods ranging from electronics to wedding gowns from the leading manufacturers around the world at affordable prices.
E.M. Ajanaku, chief executive officer, CEO, of E-Shop is partnering with Tonye Tasie, CEO of Index Express, to ensure that Nigerians get a wide range of best quality products which include cars, electronics, computers and household equipment.
Adeyemi John Gilbert, one of the company's associates, who is also the E-shop manager said the company sells these products at rock-bottom prices. "It is often heartbreaking when you want the good things of this life and you just can't afford them because they are expensive. What you eventually get and sometimes settle for is often substandard in terms of quality," Gilbert said. According to him: "We are working in partnership with a registered and recognised American outfit, known as Shopfromamerica. We are their representatives here in Nigeria. Why America, you might ask? It is because American specifications of any product is one of the best you can buy anywhere."
|
