Ajibola Abayomi

Lagos — The replacement insurance on Nigeria Communication Satellite 1 (NIGCOMSAT 1) has been valued at $46 billion.

satelliteThis was disclosed in an interview with Daily Independent in Lagos by the managing director of Nigeria NIGCOMSAT), Timasaniyu Ahmed-Rufai.

Speaking on criticism against government over the non-functioning of satellite installed during the regime of ex-president Oluseguun Obasanjo, Ahmed-Rufai argued that the failure of SAT 1 was not peculiar to Nigeria or the fault of the Chinese firm that put the satellite in orbit, but was due to an international crisis.

The NigComSat-1 was launched on May 13, 2007 and was sub-Saharan Africa’s first communications satellite.

NigComSat-1 provided a backbone for both upstream and downstream telecommunication services.

He said the SAT 1 replacement would be commissioned in September 2011 saying work on the satellite was almost complete.

Reiterating his optimism that the SAT 1 would function effectively when commissioned, he disclosed that the space engineers “contacted to manage the satellite for the country had signed a replacement insurance valued at $46 billion should anything go wrong this time around.”

“These are space engineer experts from America, Britain and Russia, the risk analysis has been done, for Nigeria to invest N256 billion is no joke” he said.

Source: independentngonline.com/ Image: spacetoday.com

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jpgOperators say the Nigerian Liquefied Natural Gas (NLNG) Limited has the capacity to supply 150,000 metric tonnes per annum of LPG to the Nigerian market. For this modest aspiration, the country would require 225 trucks, 180 bottling plants, 5.8million cylinder requirements, and 96,000-bottles/day cylinder bottling capacity. Due to the impact of deforestation, an indigenous oil and gas company is gradually making forays to meet the nation’s requirements in the sector. GODWIN HARUNA writes…

As the world begins another series of talks on the climate change conundrum in Cancun, Mexico, people around the globe are looking for solutions that would mitigate its impact. Deforestation is one of the major challenges confronting Nigeria in the effort to maintain a sustainable environment. Domestic cooking gas has come as a veritable alternative to curb deforestation in order to have a sustainable environment in the country.

The statistics look scary, but it is not insurmountable. Operators of the Liquefied Petroleum Gas (LPG), popularly known as cooking gas, maintain that out of the 225 trucks so required, to distribute the product in the country, only 131 trucks are available. Of the 5,800,000 cylinders required only 80,000 are available. There are just 50 working plants in the country, out of the needed 180 plants, and of the 96,000 MT daily bottling capacity plants, only 18,000MT daily bottling capacity is accessible. These figures are reflective of the difficulties in making LPG available in every home in Nigeria in spite it’s obvious advantages over firewood for the cooking needs of the citizenry.

Source: thisdayonline.com/   Image: businessdailyafrica.com

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Booming business out of aquaculture is happening elsewhere in the world, compared to Africa where the sector is still at its infancy. But there is a wind of change blowing on the continent as African governments implement policies that are opening lucrative investment opportunities in the sector.

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