Femitex Uncategorised

FGN ADOPT A $30 OIL BENCHMARK FOR 2020 BUDGET

The Federal Government of Nigeria on Wednesday proposed the reduction of oil benchmark, upon which the 2020 budget was predicated, from $57 to $30 per barrel.

The Minister of Finance, Zainab Ahmed, announced this after a meeting between the executive arm of government and the leadership of the National Assembly in Abuja. The meeting was meant to review the 2020 budget and Medium Term Expenditure Framework, particularly against the background of the impact of the Coronavirus pandemic on the global economy.

The meeting, which lasted almost four hours, according to the President of the Senate, Ahmad Lawan, was summoned to “discuss the proposed review of the 2020 budget and the Medium Term Expenditure Framework.”

The Finance Minister proposed a review of the 2020 budget using a $30 per barrel price benchmark as against $57 initially passed in December by the National Assembly.

She said it was part of the measures to prepare for the worst-case scenario, as well as insulate the Nigerian economy against any form of unexpected crisis. She also told the leadership of the National Assembly that budgeted revenues for the Nigeria Customs Service have been reduced from N1.5 trn to N943bn “due to anticipated reduction in trade volumes”. She also said, “The privatisation proceeds will be cut by 50 per cent, based on the adverse economic outlook on sales of the Independent Power Projects and other assets.”

Similarly, Ahmed disclosed that the Federal Government has undertaken cuts to Revenue-related expenditures for the Nigerian National Petroleum Corporation for several projects included in the 2020 Appropriation Act passed by the National Assembly in December 2019. She said, “The Federal Government is working on Fiscal Stimulus Measures to provide fiscal relief for taxpayers and key economic sectors.

“We will incentivise employers to retain and recruit staff during the economic downturn.

“We will stimulate investment in critical infrastructure; review non-essential tax waivers to optimise revenues, and compliment monetary and trade interventions to respond to the crisis.”

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Femitex Uncategorised

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Femitex Uncategorised

PRIVACY STATEMENT

Introduction

We at Synterra Energy Assets. and our Affiliated Companies are committed to respecting your online privacy and recognize your need for appropriate protection and management of any personally identifiable data ("Personal Data") you share with us.

 “Affiliated Companies” means with respect to any specified person or entity, any other person or entity Controlling, Controlled by or under common Control with such entity, where “Control” with regard to an entity, means the beneficial, equitable or legal ownership, either directly or indirectly, of more than fifty percent (50%) or more of the capital stock (or other ownership interest, if not a corporation) of such entity ordinarily having voting rights, or effective control of the activities of such entity regardless of the percentage of ownership.

 

 Synterra’s Privacy Policy outlines how Synterra collects, uses, shares, and secures your Personal Data. This policy also describes your choices regarding use, access, and correction of Personal Data.

 

 

In furtherance of the Synterra’s commitment to this Policy, Synterra has certified to adhere to the Privacy Principles set forth in the EU-US Privacy Shield and with the General Data Privacy Regulation regarding Personal Data related to customer, partners or employees of the Company resident in the European Economic Area and processed in support of the Company’s. Company adheres to the Privacy Shield principles as respectively agreed to by the U.S. Department of Commerce and the European Commission. With respect to Personal Data received or transferred pursuant to Privacy Shield, Synterra is subject to the regulatory enforcement powers of the U.S. Federal Trade Commission.

For additional details, please refer to the Privacy Shield section of this Policy.

Personal Data

Personal Data is any data relating to an identified or identifiable natural person. Your name, address, phone number and bank account number are examples of Personal Data.

Personal Data that we process and for what purposes

Synterra processes your Personal Data to ensure the efficiency and effectivity of Synterra business relationships, commercial transactions, marketing and employment practices. Processing will always be based on legitimate grounds or your consent.

 

 

 

Collection and Use of Personal Data

Synterra may collect Personal Data (which covers any data that may be used to identify an individual) from you when you visit Synterra website. The type of Personal Data collected and their Purpose of Use include (but are not limited to) the items outlined in the table below as follows: 

Personal Data Type Collected

 Purpose of Use

Personal Identification:

- Name

- Home or physical address

 

- Email address, phone number, and other contact data

 

- National Identification Number

 

- DOB

 

Performance of a Contract:

 

Commercial Activity:

 

Synterra collect partial or all data for the fulfillment of goods or services

 

Employment:

 

Synterra collect this data to comply with employment regulations, for fulfilllment of employment obligations.

 

Contact Data:

 

- Address

 

- Phone (landline or mobile)

 

- Email

 

- Emergency Contact(s)

 

- Business Contact Data

 

Marketing or Legal Obligation:

 

Commercial Activity:

 

Synterra may collect partial or all data for marketing or service updates

 

Employment:

 

Synterra collect this data to comply with employment regulations and for the employment contract

 

Benefits Data:

 

- Elections & Deduction Amounts

 

- Beneficiaries/Dependents

 

- Claims Data

 

Performance of a Contract:

 

Employment:

 

Synterra will collect this data to process payroll per the employee contract

 

 

Financial Data:

 

- Banking Details

 

- Compensation

 

- Tax Data

 

- Wage Garnishments

 

- Credit Card Data

 

Performance of a Contract:

 

Commercial Activity:

 

Synterra may collect partial or all data for the payment of our goods or services

 

Employment:

 

Synterra will collect this data to process payroll per the employee contract

 

Employee Data:

 

-Employee Agreements & Consent

 

- Employment Contracts & Terms and Conditions

 

- Performance & Training Documents

 

- Disciplinary Documents

 

- Family & Health Information

 

Employment:

 

Synterra collects this data to ensure compliance with applicable labor laws, fulfillwork obligations, check compliance with company policies, administer benefits, manage careers and perform general HR operations.

 

Candidate Data:

 

- Name

 

- Home or physical address

 

- Email address, phone number

 

- CV or Resumes

 

- Background check Data

 

Employment:

 

Synterra collect this data for the evaluation of employment opportunities

 

Synterra does not as a practice collect Personal Data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, trade-union membership, and the processing of genetic data, biometric data in order to uniquely identify a person or data concerning health or sex life and sexual orientation.

 

If Synterra intends to use and transfer of Personal Data for purposes beyond outside of the Synterra’s commercial or employment obligations for purposes such as marketing or commercial communications, or if Synterra discloses Personal data to a third party or use of the Personal Data for other purposes other than the purpose than for which it was originally collected or subsequently authorized by you, Synterra will offer you the opportunity to affirmatively opt in whether you allow your Personal Data to  be disclosed to a third party or to be used for any purposes other than the purpose for which it was originally collected or subsequently authorized by you.

 

In addition, Synterra may need to transfer Personal Data within Synterra or to Synterra's third-party service providers, across borders, outside of your country or jurisdiction around the world pursuant to our processes.

 

Choice

The choice of whether to provide Personal Data to Synterra is up to you. The notice Synterra provides when it collects Personal Data which will assist in how you prefer to allow us to use your Personal Data. When you do not want to provide your Personal Data, you can still visit most of Synterra's websites; however, please note that you may be unable to access certain options, offers, and services that involve our interaction with you. If you chose to have a relationship with Synterra, such as a contractual or other business relationship or partnership, Synterra will naturally continue to contact you in connection with that business relationship.

 

You may sign-up and consent to receive email or newsletter communications from Synterra. If you would like to discontinue receiving these communications, you may update your preferences by using the “Unsubscribe” link found in emails or by contacting Synterra using the information in the “Contact Data” section of this Policy.

 

Cookies and Other Tracking Technologies

This site uses cookies to store information on your computer. Some are essential to make Synterra site work; others help Synterra improve the user experience. A "cookie" is a small text file that may be used, for example, to collect data about website activity. Some cookies and other technologies may serve to recall Personal Data previously indicated by a web user. For greater details, please refer to Synterra Cookie Policy to learn more.

 

If you wish to opt out of interest-based advertising, click here or if located in the European Union, click here. Please note you will continue to receive generic ads.

 

 

 

Log Files

Log files may record data such as Internet domain and host names; Internet protocol (IP) addresses; browser software and operating system types; internet service provider, clickstream patterns; the files viewed on Synterra website (e.g., HTML pages, graphics, etc.), referring and exit pages and dates and times that Synterra site is accessed to analyze trends in the aggregate and administer the site.

 

Security

Wherever your Personal Data may be held within Synterra or on its behalf, Synterra intends to take commercially reasonable and appropriate steps to protect the Personal Data that you share with Synterra from unauthorized access or disclosure.

 

If you have any questions about the security of your Personal Data, you can contact Synterra at This email address is being protected from spambots. You need JavaScript enabled to view it..

Legal

Synterra may be required to disclose Personal Data in connection with a lawful request from law enforcement, public authorities, or other national security request.

Synterra may also disclose your Personal Data as required by law, such as to comply with a subpoena or other legal process, when Synterra believes in good faith that disclosure is necessary to protect Synterra’s rights, protect your safety or the safety of others, investigate fraud, or respond to a government request.

 

Data Retention

Synterra will not store your data longer than necessary for the purpose for which we have processed your data. How long we retain your data depends on the type of data and the purpose for which we process your data.

Data Subject Rights

To exercise any of the following rights, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Right to Request Access

You may request details of Personal Data which Synterra holds about you. Upon request, Synterra will provide a copy of such Personal Data within a reasonable timeframe. If you would like a copy of your Personal Data Synterra maintains, please write to us at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

 

 

Right to Rectification

If you believe that any Personal Data Synterra is holding about you is incorrect or incomplete, please contact Synterra as soon as possible, at the address below. Synterra will promptly correct any Personal Data found to be incorrect.

 

Right to Object

You may choose to object to the collection or use of your Personal Data:

whenever data is processed for the legitimate interest of Synterra

whenever data is processed for a task carried out in the public interest or in the exercise of official authority vested in Synterra

Please note that your objection may be overridden by the legitimate interests of Synterra to process and collect your Personal Data.

 

Right to Erasure

To the extent legally permissible, you may be entitled to have certain Personal Data erased in the following circumstances:

 

The Personal Data is no longer necessary in relation to the purposes for which it was collected or processed

You object to the collection or use of your Personal Data and there are no overriding legitimate grounds for the processing thereof

The Personal Data has been unlawfully processed

The Personal Data has reached the maximum defined retention period to be erased or for compliance with a legal obligation to which Synterra is subject

 Right to Restriction of Processing

You may have the right to restrict further processing of your Personal Data in the following situations:

You contest the accuracy of the Personal Data

The processing of the data is unlawful

The Personal Data Synterra has reached the defined retention period no longer needs the Personal Data for the purposes of the processing, but you require the Personal Data to establish, exercise, or defend legal claims.

You object to the processing and the processing of your Personal Data may be restricted pending the verification of the legitimacy of Synterra’s grounds to override your rights as a data subject.

 

Right to Portability

You have the right to receive your Personal Data in a structured, commonly used and machine-readable format.  Synterra will assist in the transmission of such data to another entity, upon request, to the extent technically feasible.

 

Sharing with Service Providers

We may share your Personal Data as described, and for the purposes identified, under the “Collection and Use of Personal Data” section above with third-party service providers who provide us services that assist Synterra in its business activities which may include marketing, advertising our product/service offerings,  customer support, recruiting and management of employee data, payroll support, maintaining and improving our service offerings, and cloud services infrastructure, among other things. 

 

Service providers provide certain services available on www.Synterraglobal.com on Synterra's behalf. Synterra may provide data, including Personal Data, which Synterra collects on the web, through third-party service providers to help it deliver programs, products, data, and services. Service providers are also an important means by which Synterra maintains its website and mailing lists. These service providers are authorized to use your Personal Data only as necessary to provide these services to us.

 

Children's Privacy

Synterra’s website is a general audience website. Accordingly, Synterra does not intend to collect Personal Data from anyone Synterra know to be under 13 years of age.

Commitment

Synterra is committed to privacy. Protecting your privacy online is an evolving area, and this website is constantly evolving to meet these demands.

 

If you have any comments or questions regarding Synterra’s Privacy Policy, please contact Synterra at This email address is being protected from spambots. You need JavaScript enabled to view it..  While Synterra cannot guarantee privacy perfection, Synterra will address any issue to the best of its abilities as soon as possible.

 

If you have an unresolved privacy or data use concern that we have not addressed satisfactorily, please contact our U.S.-based third-party dispute resolution provider (free of charge) at https://feedback-form.truste.com/watchdog/request.

 

Synterra is responsible for the processing of Personal Data it receives, under the Privacy Shield Framework, and subsequently transfers to a third party acting as an agent on its behalf.  We comply with the Privacy Shield Principles for all onward transfers of Personal Data from the EU, including the onward transfer liability provisions.

 

With respect to Personal Data received or transferred pursuant to the Privacy Shield Framework, Synterra is subject to the regulatory enforcement powers of the U.S. Federal Trade Commission. Anent the discussion under the Legal heading above, in certain situations, we may be required to disclose Personal Data in response to lawful requests by public authorities, including to meet national security or law enforcement requirements.

 

If you have an unresolved privacy or data use concern that we have not addressed satisfactorily, please contact our U.S.-based third-party dispute resolution provider (free of charge) at https://feedback-form.truste.com/watchdog/request.

 

Under certain conditions, more fully described on the Privacy Shield website, https://www.privacyshield.gov/article?id=How-to-Submit-a-Complaint, you may be entitled to invoke binding arbitration when other dispute resolution procedures have been exhausted. 

 

Contact Data

Synterra Data Privacy Office

 

Attention. Chief Data Privacy Officer

 

Synterra Energy Assets.,

 

72 Newman Street

London W1T 3EH

 

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Changes to This Privacy Policy

You should review this Privacy Policy on a routine basis as Synterra reserves the right change this Privacy Policy, or any portion thereof, an updated version of our Privacy Policy will be posted to our website.

 

 

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Uncategorised

WHO WE ARE

We are a  company duly incorporated and registered in Nigeria  set up by seasoned specialists in the  oil and gas  sector, power generation, shipping, trading and international finance. We operate as  a Nigerian based Consultancy and project development company with a focus on the energy and industrial sectors in Nigeria and other African countries.Our strength is in creation of tailor-made solutions that add value to the whole trading value chain. We identify projects in our areas of focus, that directly address both existing and emerging opportunities for delivery of strategic solutions through bespoke structures designed to generate attractive return on investment at minimal risk.

 

We exploit the natural synergies between the Energy and the manufacturing sectors in a deliberate effort to create opportunities for viable investment.

We  also identify and collaborate with credible local and foreign partners to deliver our projects under structures that offer maximum value addition to all stakeholders.

 

Synterra are  a small but strategic team of seasoned professionals with excellent track records, clear vision and strong focus.The senior management of Synterra have decades of experience in achieving success in global markets and are excellently position to provide valuable advice to investors.

We have  a growing pipeline of projects covering power generation (thermal and renewable), natural gas monetization (Gas to Liquids, Gas to Power, Upstream Oil and Gas projects  and  Agro processing and trading.

 

We currently provide a range of services to foreign investors structured to manage Nigeria country risk and increase investment returns. In essence we mitigate the ease of doing business challenges in Nigeria for new or potential market entrants.

 

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Synterra Energy Assets
72 Newman Street, London W1T 3EH
+44 788 084 2065
tex@synterra.co

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