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We Can Produce Three Million Meters Yearly – Armese

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  • We Can Produce Three Million Meters Yearly – Armese

An indigenous meter manufacturer, Armese Power Solutions, has said it has the capacity to help meter asset providers engaged by power distribution companies meet the local content requirements for meter rollout in line with the Federal Government’s Meter Asset Provider regulation.

The regulation requires MAPs to source a minimum of 30 per cent of their contracted metering volumes from local meter manufacturing companies in Nigeria.

The Chief Executive Officer, Armese Consulting Limited and Armese Power Solutions, Mr Imran Khokhar, who was in Lagos recently to sign a Metering Service Agreement with Eko Electricity Distribution Company, said his firm was equal to the task of helping MAPs plug the metering gap in the power sector.

He added that the firm would leverage the expertise of its meter manufacturing facility, located in Akwa Ibom State.

He was quoted in a statement as saying, “Our manufacturing subsidiary, operating as Metering Solutions Manufacturing Services Limited, has the installed capacity to produce three million meters yearly on a multi-shift pattern. It is staffed by a team of seasoned professionals, on a ratio of 99 per cent local to one per cent foreign, who bring a pedigree of unequalled competence to the table in the manufacture of world-class meter assets.

“Our product line includes single-phase and three-phase prepaid meters in various configurations and mountings as well as tamper-proof polycarbonate meter box enclosures.”

Khokhar disclosed that the 20,580sqm manufacturing facility, inaugurated by Vice- President Yemi Osinbajo in September 2017, had so far supplied over 200,000 meters to Discos and was set to produce a minimum of 175,000 meters catering to domestic and international requirements in the short run.

He said, “Most recently, Armese also leveraged the quality of products manufactured by our subsidiary, MSMSL, to supply high-volume meter assets to the Liberia Electricity Company for an ambitious electrification project funded by the United States of America through the Millennium Challenge Corporation.”

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.

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MTN Nigeria, Gameloft Partner to Increase Access to Variety of Exciting Games

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MTN Nigeria announced it has partnered with Gameloft, a leader in the development and publishing of games, to increase access to a variety of fun and exciting games online.

The telecommunications giant in collaboration with its new partner, Gameloft announced the launch of MTN Gameworld, a new gaming platform for its subscribers.

According to MTN, the new platform will allow the Nigerian growing gaming community access to a lot of unique games online through an extensive premium catalogue from Gameloft and other renowned publishers.

Commenting on the partnership, Srinivas Rao, the Chief Digital Officer, MTN Nigeria, said, “We are constantly seeking to deliver innovative products that support the aspirations of our customers, whilst delivering superior user experience. This partnership allows us to provide our customers with access to a variety of exhilarating games from Gameloft and other leading publishers at an affordable rate.”

MTN Gameworld will allow subscribed customers access to a variety of games, which they can play at subsidised data rates through the MTN Gameworld app. Android, iOS and Windows phone users can subscribe via SMS, app, web, USSD menu (*447#), 131 USSD menu and any other MTN customer channel.

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President Buhari Commissions 5,000bpd Modular Refinery Built in Imo State

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President Buhari

President Muhammadu Buhari on Tuesday commissioned the 5,000 barrels per day modular refinery built by Waltersmith Group in Imo State.

President Buhari, who commissioned the new modular refinery virtually, said the refinery will enable Nigeria to export petroleum products to neighbouring countries and other markets.

The 5,000 barrels per day Waltersmith Modular Refinery is the first phase of 50,000 barrels per day combined capacity plant planned for Imo State, according to the Group.

Buhari commended Waltersmith Group, an indigenous oil firm, and the Nigerian Content Development and Monitoring Board for the collaboration that led to the actualisation of the modular refinery.

President Buhari, therefore, directed the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation, the Department of Petroleum Resources and all other relevant government agencies to provide Waltersmith all the necessary support in terms of access to crude oil and condensate feedstock.

Buhari said, “We rolled out our refining roadmap in 2018, to address challenges in the downstream sector. After many years of government giving out modular refining licences without any coming on-stream, we are today seeing a commissioning within two years.

“The plan to commence the expansion of this refinery to 50,000bpd capacity, to refine crude oil and condensate, is a demonstration of the economic reform Nigeria is undergoing.

“The realisation of the refinery roadmap will ultimately lead us to becoming a net exporter of petroleum products, not only to our neighbouring countries but to other wide markets,” he said.

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Elon Musk Net Worth Jumps by $100 Billion this Year to Topple Bill Gates, Mark Zuckerberg, Others 

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Elon Musk, the Chief Executive Officer and founder of Tesla, is now the world’s second-richest person following another surge in the price of Tesla share.

Musk total net worth jumped by $7.6 billion to $110 billion between November 16 and 17 to dethrone Facebook founder, Mark Zuckerberg, from the third position.

Since then, Tesla stock has been on a bullish run and in the last 24 hours added $7.24 billion to Elon Musk’s total net worth, according to Bloomberg Billionaire Index. Bringing the billionaire’s total net worth to $128 billion.

Elon Musk’s net worth rose from just $28 billion in January 2020 to $128 billion on November 24, 2020, representing an increase of $100 billion, the highest by any billionaire.

Musk has finally toppled Bill Gates as the second richest person and for the first time, Bill Gates is the third richest man in the world. This is the first time in almost 40 years that Gates will be in the third position.

Billionaires listed on Bloomberg Index have collectively gained $1.3 trillion this year.

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