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Eko Hotel, Ibom Hotel Win Big at Nigeria Travel Awards

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  • Eko Hotel, Ibom Hotel Win Big at Nigeria Travel Awards

The Lagos State Commissioner for Tourism, Arts, and Culture, Mr Steve Ayorinde through the Director, Lagos State Council of Arts and Culture, Mrs Saidat Olaitan Otulana has stated that the tourism growth plan of Governor Ambode led administration has turned Lagos to a safe and welcoming tourist destination.

Otulana stated this while delivering on behalf of the Commissioner the keynote address at the 3rd edition of the recently held Nigeria Travel Awards, organised by Jumia Travel, Nigeria’s leading online travel agency. The event, which held at Four Points by Sheraton, recognised individuals and organisations within the country’s travel and tourism industry.

“For us at the Lagos State Ministry of Tourism Arts and Culture, all we have done in almost four years is to commit to the governor’s growth agenda on the creative economy through what he called “Project T.H.E.S.E” which stands for Tourism, Hospitality, Entertainment and Sports for Excellence. It is a known fact that the agenda, which informed the deliberate investment in human capital and infrastructure with remarkable impact on the creative industry, has lived up to its promise in the last three and half years.”

“Tourism has become one of the major players in ‎international commerce and represents one of the main ‎sources of income for many developing countries. And this precisely is why the Lagos State Government under Governor Akinwunmi Ambode has accorded the sector huge attention and committed huge resources into developing it in order to make it a model sector that will perform the tripartite role of rebranding the state as a safe and welcoming destination for visitors; of creating opportunities for different levels of stakeholders and to further develop the sector as a thriving and profitable venture for both investors and stakeholders on one hand, and government as regulators and enablers on the other hand,” Otulana said.

The Wells Carlton Hotels & Apartments, Abuja won the “Hotel of the Year”, while Eko Hotel & Suites won the “Best Business Hotel” and “Jumia Travel Booking” awards. Ibom Hotel & Golf Resort won the “Best Leisure Hotel” while Air Peace won the “Best Local Airline” for two consecutive years. Emirates Airline won the “Best International Airline,” while Tour2Nigeria won the “Best Travel Blogger/Vacation Planner”. Chuks Nwanne of The Guardian newspapers won the “Travel Reporter of the Year.”

In her opening remark for the awards presentation, the Managing Director of Jumia Travel Nigeria, Miss Omolara Adagunodo said that the Awards is organised to raise the service delivery bar in the Nigeria Travel/Hospitality Industry, and encourage all hotels and airlines in the country to offer the highest quality of service to their customers.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Crude Oil

South Africa’s iGas, PetroSA and Strategic Fuel Fund Merge to Create South African National Petroleum Company

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markets energies crude oil

The South African Department of Mineral Resources and Energy (DMRE) has announced the merger of Central Energy Fund (CEF) subsidiaries iGas, PetroSA and the Strategic Fuel Fund (SFF).

The merger will be effective from 1 April 2021 and the new company will be called the South African National Petroleum Company.

The merger, driven by the pursuit of implementing a new company that has a streamlined operating model via the development of a shared services system and a common information platform, comes a few months after cabinet approval and the confirmation that PetroSA had incurred losses of R20 billion since 2014.

Additional factors which prompted the move included the determination to strengthen PetroSA which had not had a permanent CEO in five years prior to the appointment of CEO Ishmael Poolo last and, had become majorly ungainful since its failure to secure gas for the gas-to-liquids refinery project in Mossel Bay.

While the merger deadline has been set, the portfolio committee expressed reservations to the department’s likelihood of meeting the deadline, considering the existing legislative regime, pending issues raised in the SFF and PetroSA forensic reports, as well as PetroSA’s current insolvency and liquidity challenges, the official press statement on the briefing revealed.

“South Africa’s energy sector is entering a new dawn,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “With gas discoveries off the coast and the announcement of the REIPPP programme bid window 5 and 6 on the horizon, now is the most opportune time for the merger of the CEF subsidiaries. Of course, it is not an easy task and delays may be anticipated but, this move signals a real change towards a meaningful strategy that will not only be beneficial to the DMRE but to potential investors and local development as well.”

The African Energy Chamber welcomes this move and acknowledges that this is yet another step supporting the country’s determination to restarting the engines of sustainable growth and the transformation of energy policy and infrastructure.

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Crude Oil

Crude Oil Hits $71.34 After Saudi Largest Oil Facilities Were Attacked

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Brent Crude Oil Rises to $71.34 Following Missile Attack on Saudi Largest Oil Facilities

Brent crude, against which Nigerian oil is priced, jumped to $71.34 a barrel on Monday during the Asian trading session following a report that Saudi Arabia’s largest oil facilities were attacked by missiles and drones fired on Sunday by Houthi military in Yemen.

On Monday, the Saudi energy ministry said one of the world’s largest offshore oil loading facilities at Ras Tanura was attacked and a ballistic missile targeted Saudi Aramco facilities.

One of the petroleum tank areas at the Ras Tanura Port in the Eastern Region, one of the largest oil ports in the world, was attacked this morning by a drone, coming from the sea,” the ministry said in a statement released by the official Saudi Press Agency.

It also stated that shrapnel from a ballistic missile dropped near Aramco’s residential compound in Eastern Dhahran.

Such acts of sabotage do not only target the Kingdom of Saudi Arabia, but also the security and stability of energy supplies to the world, and therefore, the global economy,” a ministry spokesman said in a statement on state media.

Oil price surged because the market interpreted the occurrence as supply sabotage given Saudi is the largest OPEC producer. A decline in supply is positive for the oil industry.

However, Brent crude oil pulled back to $69.49 per barrel at 12:34 pm Nigerian time because of the $1.9 trillion stimulus packed passed in the U.S.

Market experts are projecting that the stimulus will boost the United States economy and support U.S crude oil producers in the near-term, this they expect to boost crude oil production from share and disrupt OPEC strategy.

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Crude Oil

A Loud Blast Heard in Dhahran, Saudi Arabia’s Largest Crude Oil Production Site

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Loud Blast Heard in Dhahran, Saudi Arabia’s Largest Crude Oil Production Site

Two residents from the eastern city of Dhahran, Saudi Arabia, on Sunday said they heard a loud blast, but they are yet to know the cause, according to a Reuters report.

Saudi’s Eastern province is home to the kingdom’s largest crude oil production and export facilities of Saudi Aramco.

A blast in any of the facilities in that region could hurt global oil supplies and bolster oil prices above $70 per barrel in the first half of the year.

One of the residents said the explosion took place around 8:30 pm Saudi time while the other resident claimed the time was around 8:00 pm.

However, Saudi authorities are yet to confirm or respond to the story.

 

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