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Dubai Eases Travel Restrictions Ahead Of Africa Oil Week

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East Africa’s Energy Future Shines Bright As Investors Watch

Dubai is now among only a small proportion of locations in the world for which there are no current travel restrictions. Following a decision by the UAE
Government and Dubai Tourism, travellers from all countries are now welcome to enter Dubai.

All they need to hold is a negative COVID-19 PCR test certificate, which has become standard travelling procedure in the COVID-19 era.

This is good news for the many delegates planning to attend the Africa Oil Week (AOW) in Dubai in November 2021.

Travellers from most countries will need to show the results of a negative test taken no more than 72 hours before departure. Travellers arriving from Bangladesh, India, Indonesia, Nigeria, Pakistan, South Africa, Sri Lanka, Uganda, Vietnam and Zambia must follow a slightly different procedure.

These travellers must hold a valid negative COVID-19 PCR test certificate with a QR code issued within 48 hours of the time the sample was collected from an approved health facility. And they must have a rapid PCR test report with a QR code for a test conducted at the departure airport within six hours of departure.

READ ALSO: East Africa’s Energy Future Shines Bright As Investors Watch

Travellers from selected countries will also be required to take a final test on arrival at Dubai.

“We welcome the easing of restrictions,” says Chris Hall, AOW’s Group Event Director. “They indicate that Dubai is once again open for business and reassure us of our decision to temporarily relocate AOW to Dubai.

“While we look forward to returning to Cape Town in 2022, we believe that this move is in the best interests of our delegates and will help us to run the only safe, in-person energy event for Africa this year.”

AOW is gearing up to welcome some 45 ministers and government leaders representing 66% of African governments, including Ghana, Uganda, Senegal, Côte d’Ivoire, Kenya and the Republic of the Congo.

The executive teams of the continent’s major oil and gas players, such as TotalEnergies, Eni, Equinor, Tullow Oil, Perenco, Panoro and Seplat, will also be attending. The potential for meaningful engagement, after a pandemic-induced hiatus, has been welcomed by all.

The easing of travel restrictions, of course, doesn’t mean that either Dubai or AOW will be relaxing their interventions to keep delegates safe.

“Since the start of the pandemic, a robust strategy was implemented with the key priority being to safeguard the health and well-being of our residents and guests,” says Issam Kazim, the CEO of Dubai Corporation for Tourism and Commerce Marketing.

“We continue to implement the highest standards of hygiene and COVID-19 precautionary measures across the city, with inspectors carrying out venue checks at those establishments awarded the ‘Dubai Assured’ stamp, every two weeks, to ensure ongoing compliance.

READ ALSO: North African Oil, Gas Producers Mull Fresh Strategies On Energy, Sign Up For Africa Oil Week

“These efforts, along with the progress being made with the rollout of the country-wide vaccine programme, are key to managing the virus and providing peace of mind for residents and visitors..”

“For those travelling from the UK, Dubai remains an easier option than South Africa at this stage, as the latter is still on the UK’s red list,” AOW’s Hall adds.

“The UAE is on the UK’s amber list, which means that fully vaccinated travellers will not need to quarantine when they arrive home.”

Together with its official partners, including Emirates (airline), AOW looks forward to its next event being the start of the return of safe in-person meetings, the world over.

 

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Obasanjo Lashes Out At Buhari Over Borrowing

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Obasanjo Lashes Out At Buhari Over Borrowing

Erstwhile President Olusegun Obasanjo has condemned the Federal Government’s plan to take fresh loans amid criticism by Nigerians over incessant borrowing by the current administration.

While speaking to Channels Television in South Africa, Obasanjo described as criminal, the alleged move to accumulate debts for the next generation to pay.

Obasanjo expressed worries that if the existing debts remain unserviced or unpaid by the President Muhammadu Buhari’s administration, it might become a huge problem for successive governments.

The president, a few days ago, requested the approval of the National Assembly to borrow the fresh sums of $4,054,476,863 and €710 million.

READ ALSO: Buhari Orders Incorporation Of NNPC Limited, Names Board Members

Reacting, the former president who believes that borrowing is not a problem, however, stated that the challenge would be the utilization of the borrowed fund and the plan or capacity to pay back.

He said: “But if you are borrowing and accumulating debts for the next generation and the next generation after them, it is criminal. What are you borrowing for?

“If we are borrowing for recurrent expenditure, it is the height of folly. If we are borrowing for development that can pay for itself, that is understandable. Then the payment, how long will it take to pay itself?”

 

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Buhari Orders Incorporation Of NNPC Limited, Names Board Members

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Buhari Orders Incorporation Of NNPC Limited, Names Board Members

President Muhammadu Buhari has ordered the incorporation of the Nigerian National Petroleum Company Limited.

In a statement on Sunday by the Special Adviser to the President (Media and Publicity), Femi Adesina, he said that the president gave the order in his capacity as the Minister of Petroleum.

“This is in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of commencement of the Act in consultation with the Minister of Finance on the nominal shares of the Company,” the statement said.

The statement said the Group Managing Director of the NNPC, Mr Mele Kolo Kyari, had been directed to take necessary steps to ensure that the incorporation of the NNPC Limited is consistent with the provisions of the PIA 2021.

READ ALSO: How Bureaux De Change Finance Terrorism – CBN

President Buhari has also approved the appointment of the Board and Management of the NNPC Limited, with effect from the date of incorporation of the company.

The President named Senator Ifeanyi Ararume aa Chairman of the Board while Mele Kolo Kyari and Umar I. Ajiya were appointed as Chief Executive Officer, and Chief Financial Officer, respectively.

Other Board Members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure (South West).

 

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How Bureaux De Change Finance Terrorism – CBN

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How Bureaux De Change Finance Terrorism - CBN

The Central Bank of Nigeria ( CBN) has moved to shut down the operations of Aboki FX, a website providing currency exchange information, which the bank described as an illegal and criminal platform.

CBN Governor Godwin Emefiele who disclosed this while fielding questions after the Monetary Policy Committee’s two-day meeting in Abuja on Friday, noted that the bank also plans to prosecute the owner of the platform, Olusegun Oniwinde.

He said: “I have given instructions to our experts to go after his website and let it be clear that we will go after him because we can’t allow this to continue.”

According to Emefiele, the CBN doesn’t recognize any forex market window besides the Investors and Exporters window.

Naira-dollar exchange rate has soared on the platform in the last couple of days. The platform currently recommends that bureau de change operators buy dollar at N560 and sell at N570.

On ban of forex sales to bureau de change operators, Emefiele said that the bank would not go back on its previous stance.

READ ALSO: CBN Bans Sale Of Dollars To Bureau De Change Operators

According to him, these BDC operators sell foreign exchange to criminals who import weapons to harm Nigerians and promote different forms of terrorism.

The CBN governor said: “It truly beats my imagination that Nigerians continued with this type of practice (selling dollars to BDC) that tended to promote illegal activities who are involved in graft and corrupt practices.

“We won’t support the corrupt tendencies of those who illegally buy dollars from our forex market, carry them in aircraft, buy arms and ammunition and bring them back into the country and conduct crimes. Whether it is Boko Haram, banditry and other nefarious activities.”

“Why will CBN give people our forex to go and buy arms? And that is what people want us to continue to do. We cannot do that. What we are saying is that if you have any legitimate need for forex, take it to the bank and they will sell you FOREX.”

 

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