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TETRACORE ENERGY GROUP BOOSTS NIGERIA’S ENERGY SECURITY AND LEADS AFRICA’S ENERGY SECTOR WITH NEW LNG FACILITY

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TETRACORE ENERGY GROUP BOOSTS NIGERIA’S ENERGY SECURITY AND LEADS AFRICA’S ENERGY SECTOR WITH NEW LNG FACILITY

By
Chinedu Nsofor

In a significant development aimed at bolstering Nigeria’s energy security, Tetracore Energy Group has been lauded for its latest investment in a 10 million standard cubic feet per day (MMscfd) LNG facility. The Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, praised Tetracore Energy Group during the commissioning of their 6.1 MMscfd Compressed Natural Gas (CNG) facility and the groundbreaking ceremony for the 10 MMscfd LNG plant at Atakobo, Ogun State.
Ekpo emphasized that these facilities are crucial for promoting cleaner energy and enhancing the country’s energy security. He applauded Tetracore Energy Group for their vision and dedication to advancing Nigeria’s gas infrastructure, stating that the projects align with the national strategy to diversify energy sources.
Mr. Ekpo highlighted the pivotal role of natural gas in the global energy transition, noting its cleaner alternative to traditional fossil fuels and its support for integrating renewable energy sources. The LNG facility, in particular, is expected to expand in-country processing capabilities and provide feedstock to gas-based industries nationwide.
“These developments are critical components of our strategy to diversify energy sources, promote cleaner energy, and ensure energy security for our people,” said Ekpo.
State and Local Government Support
Representatives from various levels of government also expressed gratitude and support for Tetracore Energy Group’s initiatives. Dr. Ola Aikulola, the Permanent Secretary of the Ministry of Industry, Trade, and Investment for Ogun State, highlighted how Tetracore’s efforts in gas penetration and utilization align with Governor Dapo Abiodun’s goals for sustainable energy solutions.
In addition, Mr. Sesan Odukoya, Head of the Oil and Gas Department at the Lagos State Ministry of Energy and Mineral Resources, emphasized the strategic partnership between Lagos and Ogun states in developing CNG and LNG facilities. He congratulated Tetracore Energy Group on their achievement and underscored the positive impact on energy security and clean energy promotion.
Mr. Olalekan Williams, CEO of Tetracore Energy Group, highlighted the company’s capacity to deliver up to 70 million standard cubic feet of gas per day to multiple customers. He described the state-of-the-art CNG satellite complex and thanked both federal and state governments for their support and policies that enabled the realization of these projects.
Williams also emphasized Tetracore’s commitment to ensuring that their operations benefit all stakeholders, from employees to the communities where they operate.
Tetracore Energy Group Affiliates
In addition to the milestone, Tetracore is renowned for its affiliates that have made significant strides across multiple countries through their diverse and innovative subsidiaries. Each branch of Tetracore is dedicated to providing sustainable, reliable, and efficient energy solutions tailored to the unique needs of their respective regions. Here’s a closer look at the various affiliates under the Tetracore umbrella and their key contributions to the energy landscape.
Tetracore Gas Nigeria Limited
Tetracore Gas Nigeria Limited stands at the forefront of natural gas distribution in Nigeria. Established with the mission to become the preferred natural gas distributor, the company offers traditional pipeline solutions alongside innovative virtual pipeline systems such as Compressed Natural Gas (CNG). Tetracore Gas Nigeria is committed to delivering safe, reliable, and convenient gas to homes, businesses, and industries across Nigeria, thereby enhancing energy accessibility and reliability.
Tetracore Energy Gas Ghana Limited
Mirroring the success of its Nigerian counterpart, Tetracore Energy Gas Ghana Limited aims to revolutionize the energy sector in Ghana. By focusing on reliable, sustainable, and cost-effective energy solutions, this subsidiary plays a crucial role in driving economic growth in the West African region. The company’s initiatives are designed to provide substantial benefits to both the urban and rural communities, fostering a more robust energy infrastructure.
Tetracore Energy Ghana Limited
Tetracore Energy Ghana Limited shares the same vision as Tetracore Energy Gas Ghana Limited, emphasizing sustainable energy solutions that propel economic development. With a strategic approach tailored to the unique needs of Ghana, the company is committed to replicating the success achieved in Nigeria, thus bolstering the region’s overall energy efficiency and stability.
Tetracore Energy Limited
Serving as the central hub, Tetracore Energy Limited coordinates the policies, management, and administration of its network of associated businesses. This strategic center enhances efficiency and profitability across the group. Additionally, Tetracore Energy Limited actively invests in other companies and manages those holdings, creating a synergistic effect that maximizes the potential of each affiliate under its umbrella.
Tetracore Power Company Limited
In the realm of electricity, Tetracore Power Company Limited operates extensively across generation, transmission, and distribution sectors. By ensuring sustainable and affordable electricity, Tetracore Power addresses one of the critical needs of the modern energy market. Moreover, the company provides consulting services aimed at further developing the electricity industry, making significant contributions to the sector’s overall growth and innovation.
Tetracore Equatorial Guinea
Tetracore Equatorial Guinea focuses on extending the successful strategies implemented in Nigeria to Equatorial Guinea. The subsidiary is dedicated to providing reliable, sustainable, and cost-effective energy solutions that stimulate economic growth within the Central African frontier. This expansion is a testament to Tetracore’s commitment to transforming the energy landscape across multiple African nations.
Tetracore Energy Project and Servicing Limited
Specializing in oil and gas well operations, Tetracore Energy Project and Servicing Limited offers comprehensive services from exploration and development to production and decommissioning. The company is involved in bidding for contracts related to offshore and onshore drilling, evacuation, and development services. Additionally, it provides essential equipment and personnel for the oil and gas sector through leasing and chartering, ensuring seamless operations at every stage of the project lifecycle.
Tetracore Petroleum Development Company Limited
Operating across the entire oil and gas industry spectrum, Tetracore Petroleum Development Company Limited manages upstream, midstream, and downstream activities. From acquiring licenses and drilling wells to operating refineries and marketing fuels, this subsidiary exemplifies Tetracore’s holistic approach to the energy sector. The company’s integrated operations ensure a streamlined process from resource extraction to the delivery of refined products to consumers.

Conclusion
Tetracore Energy Group Limited, through its dynamic and specialized subsidiaries, is shaping the energy future of Africa by leveraging innovative technologies and sustainable practices. The inauguration of its CNG and LNG facilities in Nigeria marks a significant milestone towards energy security and sustainability, driving economic growth, job creation, and improved quality of life while aligning with global climate goals. Tetracore’s commitment to advancing gas infrastructure and enhancing energy access solidifies its role as a leader in the global energy market.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

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Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

 

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

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Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

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Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.
The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.
“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.
The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.
Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.
The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.
This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.
Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

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Polaris Bank Clinches SERAS Award for Excellence in Sustainability and CSR

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Polaris Bank Clinches SERAS Award for Excellence in Sustainability and CSR

Polaris Bank Clinches SERAS Award for Excellence in Sustainability and CSR

Polaris Bank has once again cemented its position as a leader in corporate social responsibility (CSR) by winning the prestigious Sustainability, Enterprise, and Responsibility Awards (SERAS), Africa’s foremost recognition for impactful community and sustainability initiatives.

The bank was honored at the 18th edition of the SERAS Awards, held at the Oriental Hotel in Lagos, for its unwavering dedication to sustainable development and critical community interventions across Nigeria. The organizers commended Polaris Bank for its consistent efforts to improve lives and foster growth in underserved areas.

Polaris Bank Clinches SERAS Award for Excellence in Sustainability and CSR

 

The SERAS Awards, often regarded as the gold standard in sustainability and CSR, celebrate organizations that drive innovation and create lasting societal and environmental benefits. Polaris Bank stood out this year for its extensive portfolio of impactful projects, earning the “Best in Rural Population Integration” award.

Some of the bank’s notable initiatives include:

Sponsoring the planting of 2,000 economic trees in communities like Ajingi, Kano State.
Renovating the Ibeju-Lekki Skill Acquisition Centre and donating essential equipment.
Installing boreholes in underserved rural areas to provide clean water access.
Supporting over 15,000 indigent students in public schools with educational resources, including uniforms, sandals, and books.
Providing free breast cancer screenings to 20,000 women over a decade and supporting survivors through retreats.
Establishing hospitals and rehabilitation centers for victims of sexual violence and vocational centers for women.
Donating ICT labs to skill acquisition centers and promoting financial literacy among students.
Organizing medical outreach programs and aiding Internally Displaced Persons (IDPs).
These initiatives have not only improved living conditions but also reduced rural-to-urban migration by making communities more self-reliant and livable.

Rebuilding Community Resilience
Polaris Bank recently demonstrated its commitment to resilience by rebuilding its Sagamu branch, which was destroyed during the cash crunch riots following the Naira redesign policy. The bank fully reconstructed and re-equipped the branch, restoring critical banking services and supporting economic recovery in the community.

Commitment to Sustainability
Speaking on the award, Polaris Bank’s Managing Director, Kayode Lawal, emphasized the institution’s dedication to sustainability. “This recognition underscores our deliberate efforts to drive impactful socio-economic interventions and address the effects of climate change on our environment, economy, and people,” he said.

Lawal reiterated that for Polaris Bank, sustainability is not just a destination but a continuous journey of creating positive change.

Celebrating Africa’s Sustainability Leaders
The SERAS Awards brought together policymakers, business leaders, and global sustainability experts to celebrate organizations shaping Africa’s future through innovative solutions. Attendees used the event to connect with like-minded professionals and reaffirm a shared vision of lasting positive change across the continent.

As a trailblazer in sustainability and CSR, Polaris Bank remains steadfast in its mission to uplift communities, foster economic growth, and champion solutions to pressing societal challenges.

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