Business

Why We Adopted Global MOU Model – NLNG

Published

4 years ago

August 12, 2022

The Nigeria Liquefied Natural Gas has explained that it adopted the Global Memorandum of Understanding model for easy empowerment of its host communities.

The company said the model was also adopted to allow host communities to take ownership of and drive their own development.

The General Manager, External Relations and Sustainable Development, Andy Odeh disclosed this during the NLNG launch of G-MoU phase two, involving six new clusters (Abua, Egi, Ekpeye, Kalabari, Ogba and Okrika communities).

Odeh said the G-MoU was a model for sustainable community development in which communities were grouped into clusters.

He said the company’s previous G-MOU with three communities, (Ubeta, Rumuji and Ogbumnuabali), who were hosts to the company’s Gas Transmission System (GTS) facilities and the Corporate Head Office respectively, had been yielding excellent results in those communities.

He said, “The decision to take up this model of relationship is based on the yearnings and observed developmental deficits in our GTS communities.

“The need to bridge the infrastructural gaps, to alleviate poverty and unemployment whilst building community capacity to drive their affairs necessitated this novel approach for CSR activities.

“The G-MOU framework has already been adopted by IOCs such as SPDC, Chevron and Total E&P, for managing relations with their respective host communities and it has proven fruitful over the years.

“While it may seem NLNG is late to the game, we believe our G-MOU model will benefit from learning from the experiences of these IOCs, and therefore, it is assured of successful outcomes.

“This GMOU will enable us to achieve the twin objectives of human and infrastructural capacity development in our host communities.

“This is because each community cluster will take a leadership role to drive its own development, by selecting, reviewing and executing its projects based on its identified needs.

“Of course, this will be in line with identified CSR pillars of NLNG which are Education, Health, Empowerment and Infrastructures.

“Communities will not be left to navigate this new terrain alone. Support will be provided by NLNG and other key stakeholders, including the Government and technical partners like our mentoring NGOs and the GMOU’s Technical Adviser who are all present with us today.”

PUNCH

Business

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

19 hours ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

3 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

6 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.