General News
Uber Lobbies African Govts to Ready EV Policies
E-hailing firm Uber is engaging governments across Africa, urging the creation of a favourable regulatory environment to help accelerate the rollout of electric vehicles (EVs) on the continent.
This was shared by Frans Hiemstra, GM for Uber in the Middle East and Africa region, speaking at an Uber event held in Cairo, Egypt, at the Grand Egyptian Museum, which is expected to open its doors to the public at the end of 2023.
According to Hiemstra, the world’s largest e-hailing company is working to draw governments’ attention to the importance of developing a clear policy framework that will help better prepare the continent for the electrification of transport.
This, as global countries race to establish zero-emission vehicle policies and incentives to increase rollout, generate interest and make EVs more affordable for the general public.
In 2020, Uber announced a global commitment to become a zero-emission mobility platform by 2040, through its Green Future programme. This initiative provides access to resources valued at $800 million, to help thousands of drivers transition to battery EVs by 2025 in Canada, Europe and the US.
The company also established a collaboration with Go Green Africa, a network of organisations committed to accelerating Africa’s transition to a green economy in a just and inclusive way.
“Government lays the foundation of the country moving in a more sustainable environment, but government cannot do that alone,” commented Hiemstra.
“They need companies like Uber to be able to execute on their sustainable vision. The challenge with electric vehicles today is [mainly] affordability – total cost of ownership. Private companies and governments have the opportunity to influence this by trying to influence policy-makers to introduce the right incentives, and trying to influence OEMs to provide more affordable vehicle components.”
Uber is already engaging SA’s government regarding the matter, as the country sees slow but steady growth of EV adoption compared to the rest of the globe. SA had 4 764 new energy vehicles on local roads by the end of 2022, according to the National Association of Automobile Manufacturers of South Africa.
According to the 2022 AutoTrader Mid-Year Industry Report, although there is demand for EVs from South African customers, the high prices and range anxiety due to the lack of charging infrastructure are among the biggest hurdles to increased adoption.
Local vehicle industry players have for years brought to light the numerous challenges hindering the country from progressing in the EV market.
These include the lack of supportive regulatory frameworks and additional incentives to safeguard EV sales from the high costs resulting from the economic downturn, and insufficient public charging stations across the country.
In 2021, the Department of Trade, Industry and Competition released the Draft Auto Green Paper as a step towards establishing a clear policy foundation that will enable the country to coordinate a long-term strategy that will position it at the forefront of advanced vehicle and vehicle component manufacturing.
“We have to use the partnerships that private companies have with governments to be able to influence and push countries forward to a more sustainable future,” said Hiemstra.
“A sustainable future is not necessarily just about EVs; it can include a broader range of multi-modal transport. And we have taken a few steps to launch these types of vehicles across various markets through Uber Green.”
Uber Green − a low-emission ride option that connects riders with hybrid and electric vehicles − has already been rolled out in the United Arab Emirates (UAE), Middle East and North Africa, and in certain parts of Canada, Europe and the US, he added.
“In the UAE, we have made a specific commitment – to have one in four trips done in an electric vehicle by the year 2030. We are making really good strides towards this and we are pretty much at 10% already. I look forward to us beating this commitment before 2030.”
Nigeria Customs Service (NCS) is set to introduce an electronic declaration system to streamline and enhance compliance for travelers carrying cash into or out of Nigeria.
Speaking in an interview with the News Agency of Nigeria (NAN) in Abuja, Abdullahi Maiwada, NCS spokesperson, emphasized that the initiative aligns with efforts to strengthen Nigeria’s anti-money laundering framework and reinforce financial regulations.
“The Nigeria Customs Service (NCS) has announced the deployment of an Electronic-Currency (E-Currency) declaration form as part of its anti-money laundering measures for travelers carrying cash into and out of Nigeria,” NAN reported. The system will require travelers carrying amounts exceeding the legal threshold to declare them before arrival or departure.
Maiwada further explained the process, stating, “We have developed a system where, even before leaving your point of origin, you can scan a QR code, access the form, fill it out, and we will be able to see it from here.”
He noted that the initiative, set for rollout soon, will enhance monitoring and facilitate information sharing with relevant authorities.
Under the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the NCS Act 2023, travelers carrying over $10,000 (about N15.4 million) or its equivalent in negotiable instruments must declare the funds to Customs authorities.
To boost awareness, the NCS is working with airline operators to inform travelers through onboard announcements and plans to reinstate signage at airports and border points in English and French.
The move comes as part of broader efforts to tighten financial controls following a recent case at the Murtala Muhammed International Airport (MMIA), where Customs officials seized $578,000 from a passenger attempting to evade currency declaration regulations.
General News
Aquaterra Energy Secures Multi-million-dollar well Intervention Contract with Intrepid Energy in Nigeria
Aquaterra Energy, a leader in offshore engineering solutions, has secured a multi-million-dollar, multi-year contract with Intrepid Energy Limited (IEL) to deliver a bespoke subsea well intervention equipment package for a project in Nigeria.
Aquaterra Energy’s turnkey well access package will enable IEL to conduct intervention operations across multiple mature oil wells in the region, supporting enhanced reservoir production.
The contract includes the supply of a complete seabed-to-surface intervention system and package, spanning from the subsea tree to surface intervention equipment.
Key components include Aquaterra Energy’s TRT tieback tooling, which provides production bore and annular access, a lightweight well pressure control system, and an ISO 13628-7 qualified open water intervention riser with an integrated tensioning system. In addition to equipment provision, Aquaterra Energy will also deliver ongoing offshore engineering support throughout the project.
The 7- 3/8” lightweight well access solution, has been specifically engineered for deployment from jack-ups and lift boats. This innovative approach offers a cost-effective and operationally efficient alternative to floating vessels, reducing intervention costs while maintaining high safety and performance standards.
Andrew McDowell, Delivery Director at Aquaterra Energy comments: “Our expertise in offshore engineering allows us to develop tailored intervention solutions that address the operational challenges of subsea well access.
This system has been engineered for efficiency, ease of deployment, and safety, helping IEL optimise intervention activities across Nigeria while reducing costs. By delivering a complete, integrated package, we are simplifying complex operations and enabling operators to maximise production potential.”
Engr Seun Alonge, CEO at Intrepid Energy Limited adds: “Working with Aquaterra Energy marks a significant step forward for our intervention operations in Nigeria. Their specialised technology enhances our ability to execute intervention programmes efficiently, maximising performance across our assets.
By combining Aquaterra’s technical expertise with our deep understanding of the local operating environment, we’re confident this collaboration will enhance production outcomes and create lasting value for our operations in the region.”
The project is set to support intervention operations over multiple years, with Aquaterra Energy providing ongoing technical expertise, with a dedicated team of engineers providing ongoing service support throughout the project.
George Morrison, CEO at Aquaterra Energy: “Delivering reliable and efficient well access solutions for shallow water subsea operations is central to how we support offshore operators.
This collaboration with IEL reinforces our commitment to providing cutting-edge engineering solutions that enhance efficiency and reduce operational costs. With West Africa playing an important role in the global energy sector, we’re proud to continue supporting its offshore industry with our expertise and innovative technologies.”
Federal government has temporarily suspended the controversial annual dues imposed on public interest enterprises by the Financial Reporting Council (FRC) after fierce opposition from businesses.
Jumoke Oduwole, minister, Industry, Trade, and Investment, announced the decision during a Ministerial Consultative Meeting in Abuja on Wednesday.
The move follows mounting pressure from private sector groups, including the Nigeria Employers’ Consultative Association (NECA) and the Manufacturers Association of Nigeria (MAN), who slammed the Financial Reporting Council (Amendment) Act 2023 for burdening companies with excessive fees.
The Act mandates cumulative annual charges for non-listed entities and imposes a harsh 10% monthly penalty on unpaid dues, compounding until full payment, a provision that sparked widespread backlash.
At the meeting, major industry players like NECA, MAN, the Nigerian Association of Chambers of Commerce (NACCIMA), oil producers, and telecom operators warned that the fees would cripple businesses already struggling in a tough economy.
Oduwole clarified the suspension, stating, “The government has decided to direct the Financial Reporting Council to pause in the implementation of the new annual dues. You know that I am a lawyer, and a suspension request by the organised private sector would be in contravention of legislation duly passed by the National Assembly. A pause is an administrative process simply to review, in line with what we discussed today.”
She assured stakeholders that the halt would last no longer than 60 days, with a technical working group—including FRC officials and private sector representatives—set up to reassess the policy.
“We are a listening administration. The private sector has requested a range from three months to an indefinite suspension. We are not going to do that. So, at the most, 60 days is in my estimate. We are going to set up a technical working group comprised of the FRC and the organised private sector who have formally written in, and this will be reviewed,” Oduwole emphasized.
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