NNPC/Renaissance JV Boosts Cancer Fight at National Hospital

…Donates $300,000 for maintenance of cancer treatment machine The NNPC/Renaissance Joint Venture (JV) has donated $300,000 (Three Hundred Thousand US Dollars) to the National Hospital, Abuja, to support the maintenance of its advanced Linear Accelerator (LINAC) Radiotherapy Machine, a key facility for cancer treatment in Nigeria. Sustaining Lifesaving Technology In a statement, NNPCL Chief Corporate Communications Officer, Mr. Andy Odeh disclosed that the LINAC machine was originally donated by the JV in 2019 as part of its Corporate Social Responsibility (CSR). It was stated that the initiative was aimed at strengthening Nigeria’s cancer care ecosystem. The project also included the provision of data and ancillary systems, as well as the training of medical professionals to operate the high-precision equipment. Speaking during a presentation ceremony at the office of the Coordinating Minister of Health and Social Welfare, the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (NUIMS), Engr. Oluwaseyi Omotowa, outlined the impact of the intervention. “Since installation, the LINAC machine has facilitated treatment for over 2,000 patients, reduced treatment costs by 80%, shortened therapy sessions from 12 minutes to 2 minutes, and provided subsidised care for 712 indigent patients,” Omotowa said, represented by Nkechi Anaedobe, Head of Business Services, NNPC-NUIMS. He explained that the latest donation would ensure timely maintenance, minimal downtime, compliance with international standards, and precise calibration — all vital to maintaining the efficiency and safety of radiotherapy treatment. “As we move forward, the JV will continue to forge partnerships that not only address immediate healthcare needs but also build a robust foundation for future medical advancements,” he added. “Together, we are not just treating illnesses; we are fostering a healthier, more resilient nation.” Government Commends Initiative The Coordinating Minister of Health and Social Welfare, Dr. Muhammed Ali Pate, lauded the NNPC/Renaissance JV for its continued support, describing the gesture as “worthy of emulation” by other corporate entities. “This intervention aligns perfectly with broader government efforts to revamp critical infrastructure and improve healthcare quality for Nigerians,” Dr. Pate noted.“Quality healthcare comes at a cost, and with President Bola Ahmed Tinubu’s renewed focus on health sector investment, partnerships like this significantly strengthen the cause.” A Lifeline for Cancer Patients The Chief Medical Director of the National Hospital, Dr. Muhammad Raji Mahmud, described the support as a lifeline of hope for thousands of cancer patients who depend on the hospital’s services each year. “At the National Hospital Cancer Centre, we treat thousands of patients annually, and the impact of NNPC and Renaissance’s backing has been profound. It has strengthened local cancer care, reduced medical tourism, and enhanced our national capacity to treat cancer effectively,” Mahmud said. Strategic Investment in Healthcare Also speaking, the Managing Director/Chief Executive Officer of Renaissance Africa Energy Company, Mr. Tony Attah, reaffirmed the company’s commitment to sustainable healthcare and medical innovation. “This is not charity. It is a strategic investment in the well-being of Nigerians, in the resilience of our health systems, and in the shared future we all strive to build,” Attah emphasized.“When people are healthy, they contribute meaningfully to their families, communities, and the nation.” About the NNPC/Renaissance JV The NNPC/Renaissance Joint Venture is a partnership between the Nigerian National Petroleum Company Limited (NNPC Ltd.) and Renaissance Africa Energy Company, focused on responsible energy development and impactful corporate social investments in key areas such as healthcare, education, and environmental sustainability.

FEC Approves Concession Of ‘Colonial’ Central Workshop In Ijora

The Federal Executive Council has approved the concession of the Central Workshop Ijora to a private sector firm for rehabilitation and optimal operation under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC). According to a statement signed by Head, Media and Publicity, Manji Yarling, it is the First Public Private Partnership (PPP) projects to be approved under the new administration of H.E. President Bola Ahmed Tinubu. The concession which will adopt a Rehabilitate-Operate-Maintain-Transfer PPP model seeks to upgrade the Central Workshop to ensure its functions are realized. With the Federal Ministry of Works as Grantor, the project which is an unsolicited project (Privately Initiated Infrastructure Proposals – PIIP) by, Beta Transport Nigeria Limited is expected to generate NGN 28.1 billion within a 20-year concession period. The Central Workshop, Ijora, Lagos (“CWI”) was an appendage of the defunct Public Works Department (PWD). The PWD was the agency of the Colonial Government responsible for building and maintaining government buildings and property, roads, rail tracks, bridges, harbours and aerodromes. During the colonial era, the Workshop was used for the maintenance of vehicles, sewage treatment plants, and water supply equipment. It also provided technical advice to other departments in the Colony. Presently, the workshop is not operating optimally hence, the need to engage private sector participation. With the approval by FEC, the concessionaire will ensure that productive and professional work will be carried out in the workshop in line with standard guidelines and operating procedures via the provision of modern equipment. The concessionaire will also ensure that the workshop runs at the highest standard of operational excellence and in all restore past reputation of engineering productivity and excellence. The activities of BETA will complement the mandate of the Engineering Services Department of the Federal Ministry of Works for the fabrication of mechanical tools, products, poles, foundry items amongst others. The rehabilitation of this workshop will also provide repair services to most of the run-down trucks and vehicles which would have otherwise been left parked on the roadsides, which will in turn decongest the roads in this area.

Yuguda Tasks Private Sector On Infrastructure Funding

Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda has tasked the private sector to rise up to the challenge of sourcing long term financing from the capital market that would fund the provision of infrastructure in the West African Sub region. Yuguda stated this at a pre-event press briefing on the forthcoming West Africa Capital Market Conference scheduled to hold in Lagos October 25-26 with the theme ‘Infrastructural deficit and sustainable financing in an integrated West Africa Capital Market’. According to Yuguda, “Infrastructure deficit refers to a situation where there is insufficient infrastructure relative to the needs of the population. Availability of infrastructure, such as power, telecommunications, roads, rail, schools, hospitals, shopping malls, hotels etc. is crucial to raising the living standards of the people”. He disclosed that in many countries, the responsibility for the provision of infrastructure has been steadily moving away from government to the private sector owing to increasing demand and reduced ability of the government to fund infrastructure alone, adding that the need to tackle the infrastructure deficit in the sub-region as well as embrace principles of sustainable finance to promote economic development are some of the issues to be discussed as the conference. The conference is being jointly organised by the  West Africa Securities Regulators Association (WASRA) comprising  the Securities and Exchange Commission (SEC) Nigeria, the Securities and Exchange Commission (SEC) Ghana, and Autorite de Marche’s Financiers or AMF-UMOA, in collaboration with Economic Community of West African States (ECOWAS), the West Africa Capital Market Integration Council (WACMIC), and the West African Monetary Institute (WAMI) are jointly organizing the 3rd biennial West Africa Capital Market Conference (WACMaC) 2023. The SEC boss said, “This deficit also poses a significant challenge to the region’s sustainable development. To address this gap, there is a growing need to adopt innovative financing mechanisms, and sustainable financing options to mobilize the desired funds to meet the region’s critical infrastructure needs, foster economic growth, and achieve sustainable development goals.  “The Conference will bring together a distinguished array of experts, regulators, policymakers, and industry leaders who will share their insights, experiences, and strategies to proffer solutions to the region’s massive infrastructure deficit. The WACMaC 2023 provides a unique platform to engage in meaningful discussions, share insights, and forge partnerships that will help shape the future of our capital markets. The DG added that this year’s conference is particularly significant, as over 300 stakeholders will converge at the Eko Hotels and Suites, Lagos from October 25-26, 2023 to hold discussions around the general theme with a view to contributing significantly to infrastructural development in Nigeria.

FG proposes creation of national shipping carrier to revitalise maritime sector

The Federal Government is committed to revitalizing the maritime sector in alignment with President Bola Tinubu’s Renewed Hope Agenda, aiming to enhance the welfare of Nigerians. During a recent facility tour of the Nigerian Maritime Administration and Safety Agency’s (NIMASA) Headquarters and various centres in Lagos, the Minister of Marine and Blue Economy, Adegboyega Oyetola, outlined his vision for the sector. Oyetola emphasized the need for transformative measures in the maritime industry to position Nigeria as a major player. One of his key recommendations is the establishment of a national carrier through a Public Private Partnership (PPP) arrangement to facilitate freight transport within the country. Notably, Nigeria stands as the only member of the Organization of the Petroleum Exporting Countries (OPEC) without a national shipping line flying its flag. The Minister highlighted that creating a national carrier would help eliminate the burden of the 30% freight charge associated with chartering vessels. However, he clarified that his call for a national line should not be confused with advocating for the revival of the defunct Nigerian National Shipping Line (NNSL). Furthermore, Oyetola expressed interest in NIMASA’s Modular Floating Dock, recognizing its potential to generate employment opportunities and curb capital flight. He urged the agency to engage stakeholders to support this initiative. Addressing the potential of the Blue Economy, the Minister underscored that Nigeria, with one of the world’s largest wetlands, is well-suited for coastal tourism development. He also committed to exploring opportunities in fishing and other sectors to stimulate economic growth. Bashir Jamoh, the Director General of NIMASA, expressed gratitude to President Bola Tinubu for establishing a dedicated Ministry for the Maritime sector. This move has long been advocated by stakeholders and Nigerians. With the creation of the Marine and Blue Economy Ministry, Nigeria joins seven other countries worldwide with standalone Blue Economy Ministries. Jamoh assured that this development positions NIMASA to elevate Nigeria’s global maritime presence.