Several international bidders are reportedly lining up to acquire Haifa’s port in a massive deal that is expected to close by the end of the year.

Investment groups from Israel, Europe, India and the United Arab Emirates are contending for the deal, which is estimated to be worth as much as $600 million. Haifa’s port is the busiest shipping hub in Israel.

The firms are expected to place formal bids in October, the report said, citing “sources with knowledge of the matter.” Authorities will likely announce a winner before the year ends, and transfer ownership at the beginning of next year.

The Israeli government voted last year to move forward with privatizing Haifa’s port in an attempt to spur competition and decrease costs.

Among the bidders are Israel’s Shipyards Industries, which has partnered in the initiative with Dubai’s DP World.

Israel normalized ties with the UAE last year, opening up trade between Israel and the Gulf that will likely further boost business at Haifa and in the region.

Shipyard Industries and DP World have also discussed exploring a direct shipping route from Dubai’s massive Jebel Ali port to Eilat.

Also in the running is the UK’s DAO Shipping, which paired up with Israel’s Generation Capital and the London-based Lomar.

The Nigerian government has provided more details of its plan to concession four major international airports in the country.

The Murtala Muhammed International Airport in Lagos, which accounts for over 60 per cent of international flights in Nigeria; Mallam Aminu Kano International Airport; Port Harcourt International Airport and the Nnamdi Azikiwe International Airport, Abuja, are all to be concessioned to private managers, an official said.

Aviation minister Hadi Sirika also allayed the fears of workers of the Federal Airports Authority of Nigeria (FAAN) of any layoffs during or after the concessions.

He gave the assurance at a virtual meeting with aviation stakeholders in Lagos, on Wednesday.

Sirika said instead, more hands would be engaged as most of the airports were understaffed.

The minister informed the stakeholders that there would not be any need to sell the country’s assets, but to concession them in a manner that would modernise the airports and have them operated to create more jobs as well as generate more revenue for the country.

The minister further explained that the airport terminal buildings to be concessioned would generate their revenues from non-aeronautical resources, while all other facilities at the airports and existing concessions, outside the airport terminals, would still be managed by FAAN.

He added that the concessionaire would sign service level agreements for runway, taxiway, security and air traffic Management with FAAN and NAMA to ensure that the airport operated efficiently.

Nigeria’s Federal Executive Council (FEC) has approved the Federal Roads and Bridges Tolling Policy and Regulations aimed at reintroducing tollgates on Nigerian roads.

The Minister of Works and Housing, Babatunde Fashola, made this known to journalists after the weekly meeting on Wednesday in Abuja.

According to Fashola, the policy and regulations were developed after extensive consultations with various stakeholders within and outside the government.

The minister, in 2019, announced that the government had concluded designs for the return of toll plazas on federal roads.

He said at the time that though the government dismantled toll plazas in the past, there was no law abolishing tolls.

The Minister of Works and Housing, Babatunde Fashola, made this known to journalists after the weekly meeting on Wednesday in Abuja.

He stated that the policy and regulations were developed after extensive consultations with various stakeholders within and outside the government.

According to the minister, a Willingness-To-Pay Survey was carried out to arrive at the recommended pricing framework and existing tolled roads were taken into consideration to arrive at the prices.

He said the tolls will not start until the roads are motorable and this will affect only federal dual carriage roads and that the proceeds from the tolls would be used to maintain and construct road.

The Department of Petroleum Resources (DPR) has stated that the Nigerian Gas Transportation Network Code (NGTNC) introduced last year to guide open access transportation of natural gas, has already attracted investment proposals of over $USD500 million.

Director, DPR, Sarki Auwalu, said so far, the Department has received investment proposals for power generation, ammonia for fertilizer, domestic LNG, methanol, virtual gas pipeline systems, new gas hubs and the establishment of Nigeria gas trading exchange.

Through its Nigerian Gas Flare Commercialisation Programme (NGFCP), the DPR noted that plans are ongoing to reduce gas flaring from the current single digits of eight per cent to five per cent in the country.

Auwalu stated this at an interactive session on the first year of operationalising the network code in Nigeria.

In his words, “Investors across the various gas value chains are telling us that they need DPR support, they need us to create that enabling environment for opportunities. We are looking at an additional $500 million in just one year since we introduced the code.

“The request is over 500 mmscf per day and this is just for one year; you can imagine how much investment we would attract if we continue with this.”

He noted that with the gas code, investors’ confidence have been boosted as investors are coming to DPR to create more networks for distribution of gas in the country.

He noted that the code ensures non-discriminatory access to pipeline systems, guarantees secure, available, reliable and safe gas transmission systems and ensures cost reflective tariffs for pipeline services.

He also added that the code supports the development of matured gas markets and provides a mechanism for effective handling of contractual disputes.

An oil giant, Shell Petroleum Development Company, has finally agreed to pay a court-ordered N45.9billion compensation to an Ogoni community in Rivers State.

Represented by Isaac Agbara and nine others, the Ejama-Ebubu community in Tai Eleme Local Government Area of Rivers State, commenced their suit about 32 years ago seeking damages against Shell for an oil spillage incident.

They obtained the judgment of the Federal High Court in Port Harcourt awarding damages in their favour on June 14, 2010, but case went on appeal up to Supreme Court.

On January 11, 2019, the Supreme Court affirmed the judgement in favour of the community.

But since then, the multinational had been resisting the Supreme Court verdict.

It filed an application for a review of the verdict, but the Supreme Court dismissed the request on November 27, 2020.

The firm subsequently brought the case back to the Federal High Court in Abuja in continuation of its pushback against the verdict.