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Petrol Production Begins At Port Harcourt Refinery After Christmas Holiday — FG

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The Federal Government has reassured Nigerians that production of petrol and liquefied natural gas (LNG) at the Port Harcourt Refinery will restart after the Christmas holiday.

The confidence is based on the Nigerian National Petroleum Company Limited’s (NNPCL)’mechanical completion and flare start-up’ of Phase one of the 210,000 barrels per day (bpd) refinery.

The facility’s testing is claimed to be ongoing.Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), Ekperikpe Ekpo, NNPCL Group Chief Executive Officer Mele Kyari, NNPCL Board Chairman Pius Akinyelure, and Port Harcourt Refinery Managing Director Ibrahim Onoja made the announcement during a media tour of the refinery in Eleme, Rivers State.

The tour coincided with the 15th Rehabilitation SteerCo meeting.

Lokpobiri told reporters that with the  Phase One  now ready, efforts would be geared towards the completion of the  Phase Two of the facility in the last quarter of next year.

He said: “The mechanical part is completed and this is the beginning of the completion of not just this Port Harcourt Refinery phase one and two, but the one for Warri, and then the one in Kaduna, so that we would be able to benefit from this massive investment that the country has made.”

Also, Ekpo said with the commencement of petrol production after Christmas, there will be more LPG(cooking gas) supply to the Nigerian market.

He added: “The good news equally to LPG users that as the refinery commences after Christmas, we will have  sufficient supply of LPG which will reduce the import at that level.”

NNPCL boss Kyari explained that the refinery pumps had been rehabilitated to allow the circulation of crude within the facility.

He said: “It is just to thank the team for doing great work and for keeping the promise we made to over 200 million Nigerians, and we know that this is a promise we can keep.

“We have a competent contractor and subcontractors. Our staff members are extremely determined to deliver on this project, and today, it is a promise fulfilled. Phase Two will be completed in the last quarter of 2024..

“We know all the scepticism that is in the public space but today has shown that we can fulfill commitments. NNPC is here to deliver value and we will get things done going forward.

“We have done a great deal of work to get the refinery to work. Our team has been working 24 hours a day and we are happy with the results we have today.”

NNPCL Board Chairman  Akinyelure, who described the completion of Phase One as “historic,” said he promised President Bola Tinubu that the refinery would be ready by the end of this year

He said: “I am here this morning to witness this historic ceremony on the mechanical completion of the Port Harcourt Refinery. We are proud of the staff and entire management of the refinery. We will be at the highest level of production, and if possible export part of our production.

“Doubts had been expressed by several Nigerians about the ability of NNPCL to make this facility available to support the distribution of fuel in the country. But today, I see them happy.”

Onoja also said the mechanical completion of the refinery was historic in that it would help buoy the nation’s economy.

He said:  “Today is a very happy day for me. I was part of the story from the beginning. We had a Presidential directive to get the refinery working. The NNPCL Group CEO asked us to give him an unassailable process that will not fail.

“We set governance in process and got the best team to do the work. We created a transparent project. We have 118 pumps in this first phase, the columns were filled and it will produce 60,000 barrels per day. It will create jobs and earn forex for the country.”

* Tinubu   a promise keeper, says FNM

The Future Nigeria Movement (FNM) welcomed the completion of the Phase One of the facility. It  described President Tinubu as a promise keeper

Its Leader Livingstone Wechie, said the turnaround was hitherto used by some agents of the Federal Government to siphon billions of dollars but that Tinubu ended such practice by ensuring its completion.

The  Port Harcourt refinery comprises two units, with the old plant having a refining capacity of 60,000  bpd and the new plant 150,000 bpd.

It was shut down in March 2019 for the first phase of repair works after the government secured the services of Italy’s Maire Tecnimont to handle the scoping of the complex, with oil major Eni appointed technical adviser.

In 2021, NNPC Ltd. said repairs had started after the Federal Executive Council approved $1.5bn for the project.

The refinery had over the years performed below optimal levels which resulted in the importation of petroleum products for domestic use for many years to cover for the gap in the refinery’s output.

*Dangote refinery receives another  one million barrels of crude

Dangote Refinery has made a further move towards the commencement of production of refined petroleum products with the receipt of an additional one million barrels of bonny light crude from the NNPCL.

About a week ago, the refinery received one million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO).

Managing Director of Dangote Ports Operations, Mr Akin Omole told reporters at the Dangote Quay, Ibeju-Lekki, Lagos that the facility was expecting more supplies before the end of this year.

Designed for 100 percent Nigerian crude, the 650,000 bpd refinery can process most African crude grades as well as Middle Eastern Arab Light and even US Light tight oil.

BIG STORY

Lawmaker’s Bid To Revoke Airstrip Licences Is Lack Of Aviation Knowledge — Aviation Minister Keyamo

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The Minister of Aviation and Aerospace Development, Festus Keyamo, has referred to the attempt by a member of the House of Representatives to revoke the licences of certain airstrips in the country as “a lack of understanding of the aviation industry.”

Addressing the concerns raised by the lawmaker on his X handle on Saturday, Keyamo explained that the House of Representatives as a whole had not requested the revocation of any private airstrip licences.

This clarification followed calls by some lawmakers, particularly in the House of Representatives, for the revocation of airstrip licences belonging to certain individuals and private organisations, citing security reasons.

A member of the House of Representatives, Sulaiman Abubakar, argued that the frequent approval of airstrips for private individuals could exacerbate the country’s security challenges.

However, responding to the lawmakers’ move, Keyamo then educated the public on the operations of the aviation sector regarding licence approvals.

“I think this is not correct. The House of Reps. as a body did not call on the Minister to revoke the licence of any private airstrip. I think what happened is that someone moved a motion in that regard and it was unanimously referred to the Aviation Committee to look into it.

“Whilst the intention of the Hon. Member who moved it is very patriotic, it was based on a complete lack of knowledge of the aviation sector. By the time we explain to them how private air strips work and the processes they undergo by our agencies before the final approval, they will be satisfied.

“The responsibility of the owners of private air strips is just to build the runway and terminal building. But after they build the control tower in particular, it is completely handed over to the Federal Government through NAMA (Nigerian Airspace Management Agency) which is in complete control of the entire airspace in Nigeria.

“An MOU is usually signed with NAMA in this regard before the airstrip is approved for operations. It is NAMA that provides the Air Traffic Controllers and Engineers in ALL AIRPORTS and AIRSTRIPS IN NIGERIA. And the private airstrip owners pay the Federal Government handsomely for these services.

“No object flies into Nigeria without the prior clearance by NAMA and without filing a clear flight plan, eg, where it is taking off from and where it intends to land. And I have recently directed that all aircraft coming into the country MUST first land at our international airports where they would be properly processed and checked before they make their local flights into whatever airport or airstrip they intend to go.

“So, it is COMPLETELY AND TOTALLY impossible for any private airstrip owner to just jump on an aircraft and fly in and out of the country through that facility. The Federal Government does not permit that.

“You will not be cleared for take off or landing without prior request and authorisation. I thank the Member for his patriotism, but I wish he contacted us first to explain to him before rushing to move such a motion. I attach herewith for public consumption the NAMA Act that gives exclusive control of the Nigerian airspace to the Federal Government through NAMA,” he said.

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Nigeria SMEs Get A Boost As Afreximbank, Woodhall Sign $25 Million Facility To Support Export Businesses

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Woodhall Capital, a financial Services firm, has signed a $25 million loan facility with the African Export–Import Bank (Afreximbank) to provide a support vehicle for Nigerian SMEs entering export markets.

The signing ceremony took place during the inaugural Afreximbank SME Development Workshop and Stakeholder Engagement Programme, themed “Nurturing African SMEs: Bridging the Barriers to Export”, currently ongoing at the prestigious Zinnia Hall, Eko Hotels & Suites in Lagos.

While declaring the workshop—attended by over 400 stakeholders—open, the Executive Vice President of Intra-African Trade & Export Development (IAED) at Afreximbank, Kanayo Awani, noted that the event is a call for Nigerian SMEs to be champions of trade that accelerate development in Africa.

“This event, held in collaboration with Woodhall Capital, aims to develop the capacity of SMEs, the backbone of Africa’s economy. It’s not just about nurturing SMEs; we’re also looking to identify financial institutions that can better serve SMEs,” she said.

In Africa, SMEs account for 90% of business activity, and studies indicate that they also represent an average of 60% of total formal employment in developed and developing countries.

Stressing the importance of the collaboration with the financial advisory firm, Awani disclosed that around 60% of SMEs struggle with access to finance.

“SMEs in Africa still face significant obstacles to growth and prosperity, as only a small fraction venture into the export market, and even fewer have sustained long-term success. Bridging these barriers can empower SMEs to thrive on a continental and global scale. Access to affordable, appropriate finance is consistently cited as a major obstacle for SMEs.

“Over the past year, Afreximbank has provided capacity-building and market access support to around three thousand SMEs across 34 countries.”

According to Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite, represented by the Executive Director of MSMEs at the Bank of Industry, Alhaji Shekarau Umar, out of the 58 African countries, 39 do not have populations exceeding 39 million.

“So if, in Nigeria, we have SMEs alone totalling 39 million, it means that selecting Nigeria to launch the inaugural workshop is both deliberate and significant. We believe that Afreximbank’s interventions will enable African SMEs to overcome barriers to cross-border trade.

“I urge you all to go beyond the traditional issues SMEs face, like access to funds, and start discussing access to markets and capacity. We must understand that the funds provided to SMEs, if not accompanied by capacity-building, will be wasted,” Dr. Uzoka-Anite said.

Other notable speakers addressing stakeholders at the workshop included the Managing Director of Export Development at Afreximbank, Oluranti Doherty; the Governor of Nigeria’s apex bank, Dr. Olayemi Cardoso, represented by Director of Risk Management at the Central Bank of Nigeria, Dr. Blaise Ijebor; and the Head of SME Development at Afreximbank, Ody Akhanoba.

The US Consul General, Will Stevens, represented by the Managing Director of Trade at Prosper Africa, Daniele Jean-Pierre, and the founder of Oriki Group, Fola Olowu, also participated, discussing the African Growth and Opportunity Act (AGOA).

In addition to various presentations equipping over 400 Nigerian SMEs with tools for scaling up and succeeding in export, panel discussions addressed creating an enabling environment for sustainable growth and facilitating access to finance for African SMEs, with input from industry leaders across sectors.

Discussing the role of Woodhall Capital in enabling financial institutions, governments, and SMEs to access funding, the founder of the financial advisory firm, Mojisola Hunponu-Wusu, shared how the firm grew from a small-scale operation to a global institution with Afreximbank’s support.

“Afreximbank has been integral in taking this small company and giving us the audacity to believe an African indigenous company can go global. They have supported us with various products and the backing of our esteemed advisory board members. Woodhall Capital is living proof that a small firm, with proper training and guidance, can achieve global scale with the support of African institutions.

“This workshop demonstrates that any SME here, no matter how small, with the right mindset, can achieve success. We are here to discuss what African SMEs need to gain the right support,” she stated.

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JUST IN: Onigbongbo LCDA Chairman “Tant’olorun” Dies At 54

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Oladotun Olakanle, the Chairman of Onigbongbo Local Council Development Area (LCDA), popularly known as “Tant’olorun”, has passed away after a brief illness.

The news of his death has sent shockwaves through the community.

Olakanle, who recently celebrated his 54th birthday, was a prominent figure in the council.

His sudden demise has left residents and politicians deeply saddened.

 

More to come…

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