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Presidential Compressed Natural Gas Initiative, PCNGI, and the Niger Delta Development Commission, NDDC, have signed a Memorandum of Understanding, MoU, to facilitate the implementation of the CNG policy in the Niger Delta region.

The NDDC Managing Director, Dr Samuel Ogbuku, who spoke during a courtesy visit by a delegation from the PCNGI, led by the Programme Director, Engr. Michael Oluwagbemi, at the NDDC headquarters in Port Harcourt, stated that the CNG initiative was critical for the country.

Ogbuku observed that the Presidential CNG Initiative was a component of President Bola Ahmed Tinubu’s administration’s intervention, which was directed at providing succour to Nigerians following the harsh effects of the fuel subsidy removal policy.

The NDDC Chief Executive Officer noted that implementing the CNG policy would create jobs and local technology transfers for youths and women by supporting auto manufacturing, retrofitting, conversions, and developing critical gas distribution, processing, and production infrastructure and facilities.
At the opening of a CNG conversion and training centre at Rumuokwuta community in Port Harcourt, Ogbuku said that the NDDC considered the CNG initiative a Presidential directive that deserved utmost attention.
He stated: “This groundbreaking event, the first of its kind in the Niger Delta region, is part of the efforts to set up training centres in all parts of the country.

“The more we train our youths in energy conversion facilities, the more youths we train to make them gainfully employed and financially independent. We want to make the Niger Delta the hub of CNG technicians in the country.”

The NDDC boss said that the Commission was making efforts to set up training facilities to train youths on the conversion to CNG in the Niger Delta region, noting that with the energy transition in the country, Niger Deltans would be allowed to take advantage of the transition to gas.

Speaking at the facility operated by Lapomik Energies, the PCNGI Programme Director, Engr. Michael Oluwagbemi, highlighted the gains from embracing CNG, noting that the initiative would stimulate investments in Nigeria’s abundant gas market and develop sustainable gas markets locally while growing the economy and expanding the government’s revenue base.

He stressed the need for collaboration with relevant stakeholders to train technicians and enhance local capabilities in CNG conversion.
Oluwagbemi said the Presidential Initiative on CNG fully manifested President Bola Ahmed Tinubu’s vision of leveraging Nigeria’s gas resources. He stated that Rivers State was the home of natural gas.

He observed: “The key objective is to drive down and manage transportation costs for Nigerians by utilizing the cheaper gas alternative that is abundant but currently underutilised in Nigeria.

“Our pilot phase started with training 1,000 auto technicians, engineers, and support staff. By the end of 2024, we aim to have trained 2,500 individuals, and by 2027, our goal is to reach 10,000 trained professionals.

The Traditional ruler of Rumuokuta, Eze Michael Chinda, thanked the firm operating the conversion and training centre in his domain for bringing development to his community. He observed that his community was friendly and peace-loving.

The monarch appealed to the NDDC to assist the community in completing their civic centre and thanked the Commission for providing solar street lights in the area.

Seledi Thompson-Wakama
Director, Corporate Affairs
December 10, 2024.

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CBN Affirms Alpha Morgan Bank’s Capitalisation

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CBN Affirms Alpha Morgan Bank’s Capitalisation

CBN Affirms Alpha Morgan Bank’s Capitalisation

 

The Central Bank of Nigeria (CBN) has affirmed the capitalization of Alpha Morgan Bank, marking an important milestone in the Bank’s growth journey and reinforcing its commitment to building a strong, resilient, and future-ready financial institution.

 

This affirmation reflects the Bank’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and improved service delivery to customers.

 

With this milestone, Alpha Morgan Bank is well positioned to continue expanding its footprint with its 14 approved branches across different states, while deepening inclusivity and enhancing the range of banking solutions available to individuals, businesses, and institutional clients nationwide.

 

Commenting on the development, The Managing Director, Mr. Ade Buraimo expressed the readiness of the bank in ensuring compliance with regulatory requirement, good governance framework while delivering satisfying banking along the long-term vision of the bank to become the best bank to work and strong financial institution to reckon with.

 

‘Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future. The affirmation of Alpha Morgan Bank capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect,’’ he said.

 

Alpha Morgan Bank remains committed to maintaining strong corporate governance standards, sound risk management practices, and prudent financial management as it continues to support economic development and create long-term value for stakeholders.

 

As Alpha Morgan Bank enters the next phase of its journey, the institution will continue to scale its operation, invest in technology, expand its branch network and digital banking presence, whilst delivering reliable and satisfying banking experiences to its growing customer base.

 

About Alpha Morgan Bank

 

Alpha Morgan Bank is a Nigerian commercial bank, committed to delivering satisfying banking through innovative solutions, strong corporate governance, and customer-focused services that support economic growth and financial inclusion.

Learn more about Alpha Morgan Bank at www.alphamorganbank.com

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Last-Gasp Valverde Goal Hands Real Madrid Crucial Win

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Valverde Goal Hands Real Madrid Crucial Win

Last-Gasp Valverde Goal Hands Real Madrid Crucial Win—-Uruguayan scores in stoppage time as Madrid edge 2–1 victory to move within a point of LaLiga leaders Barcelona.

Celta arrived in excellent form with four consecutive wins in all competitions and looked determined to extend that run early on. Just five minutes in, Borja Iglesias fired a low effort from 20 yards that forced Thibaut Courtois into a sharp save.

However, Real Madrid quickly found their rhythm. Vinicius Junior came close when he broke through and hit the post, and moments later Los Blancos made their pressure count. After Aurelien Tchouameni saw a shot deflected out for a corner, Madrid cleverly worked the set-piece back to the French midfielder, who swept home his first league goal of the season in the 11th minute.

Real had won all 18 LaLiga matches in which they had opened the scoring this season, but Iglesias looked determined to end that record. He first raced onto a through ball only to be denied by Courtois once again.

The striker eventually found his reward in the 25th minute. Williot Swedberg shrugged off Trent Alexander-Arnold on the left flank before squaring the ball for Iglesias to calmly slot home the equaliser.

Chances became scarce as the first half progressed, though Swedberg tested Courtois again just before the break with a powerful side-footed strike that the Belgian goalkeeper did well to keep out.

The second half struggled to produce clear opportunities, with Ferran Jutgla’s near-post effort from a corner in the 60th minute comfortably gathered by Courtois.

Real Madrid began to show more attacking intent as the game wore on. Youngsters Thiago Pitarch and Cesar Palacios both saw their efforts blocked by Carl Starfelt, while Madrid were also left frustrated when a potential handball by Jutgla in the box was overturned after a lengthy VAR check.

Despite dominating possession late on, Los Blancos nearly paid the price for their lack of cutting edge. With three minutes remaining, Iago Aspas struck the post from inside the area, coming agonisingly close to putting Celta ahead.

But just when the hosts looked set to extend their unbeaten run to six matches, disaster struck. A poor clearance fell kindly to Valverde on the edge of the box, and the Uruguayan unleashed a 25-yard strike that took a huge deflection on its way past Ionut Radu to seal victory in the 94th minute.

The dramatic win keeps Real Madrid unbeaten in Vigo since 2014 and firmly in the LaLiga title race.

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