African energy conference, September inflation… 7 business stories to track this week

October 17, 2022 8:10 am

Here are the seven top business news you need to track this week — October 17 to October 21

AFRICAN ENERGY WEEK (AEW) 2022 CONFERENCE AND EXHIBITION

The African energy week (AEW) 2022 conference and exhibition, Africa’s premier event for the oil and gas sector, will take place from October 18 to October 21, 2022 in Cape Town, South Africa.

The AEW is the African Energy Chamber’s annual event, uniting African energy leaders, global investors, and executives from across the public and private sector for four days of intense dialogue on the future of the African energy industry.

NBS TO RELEASE INFLATION FIGURES, FUEL PRICE WATCH FOR SEPTEMBER

The National Bureau of Statistics (NBS) will release a report on the consumer price index (CPI) for September and the Federation Account Allocation Committee (FAAC) for September 2022 disbursement.

The bureau will also release a report on liquefied petroleum gas (cooking gas) and the national household kerosene price watch for the month in view.

It also intends to release the pension asset and membership data for second quarter (Q2) for 2022.

Other reports to be released are selected food prices, and transport fare watch.

EMEFIELE, ALAWUBA, TO SPEAK AT UBA INTERNATIONAL BANKING CONFERENCE

The United Bank of Africa (UBA) is set to hold its 2022 edition of the UBA Group International Banking Conference.

The four-day conference which will be held between October 17 and 21 2022 on the New York Hudson River in the United States of America and, will be hosted by UBA America – the US branch of Africa’s Global Bank.

The event anticipates the attendance of Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), Oliver Alawuba, group managing director/chief executive officer, United Bank for Africa (UBA) Plc, and other experts from the international markets to lead discussions on economic trends across the world.

PENCOM TO BEGIN ONLINE VERIFICATION FOR 2023 RETIREES OCT 17

The National Pension Commission (PenCom) says it will begin the 2023 online verification and enrollment exercise for retirees/prospective retirees of the federal government treasury-funded ministries, departments, and agencies (MDAs).

Those eligible for the 2023 verification and enrollment exercise are employees of the federal government treasury-funded MDAs scheduled to retire in 2023 and employees of the federal government treasury-funded MDAs who missed the enrollment exercises in previous years.

According to PenCom, the prerequisite for the exercise is, “prior to enrolment, all retirees/prospective retirees are required to visit their PFAs and undergo the data recapture exercise”.

NIGERIA, SAUDI ARABIA TO ESTABLISH DIPLOMAT EXCHANGE SCHEME, BUSINESS COUNCIL

Nigeria and the kingdom of Saudi Arabia have agreed to set up a joint business council and a diplomatic corps exchange program to boost cooperation and deepen relations.

The aim is to facilitate the creation of new business and diplomacy initiatives.

AT 937,766, NIGERIA NOW FOURTH CRUDE OIL PRODUCER IN AFRICA

Nigeria’s crude oil production has remained below par, decreasing to an average of 937,766 barrels per day (bpd) in September.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said this in its latest crude oil and condensate production data for September 2022.

The production figure is 3.56 percent or 34,628 bpd lower compared to the August 2022 output at 972,394 bpd.

Checks by TheCable show that the latest figure represents the third consecutive decline in production.

Angola, Libya and Algeria now produce more crude oil than Nigeria.

FG MOVES TO FIGHT AGAINST CRUDE OIL THEFT

The federal government has inaugurated a committee to investigate crude oil theft in the country.

Meanwhile, the Petroleum Training Institute intends to collaborate with the Nigerian National Petroleum Company (NNPC) Limited to install anti-theft integrated monitoring systems on pipelines to protect the facility against oil theft.

According to the institute, it had developed an oil anti-theft integrated monitoring system for oil facilities.