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FG Invests N32bn In FTZ

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12 years ago

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Permanent Secretary, Ministry of Power, Amb. Godknows Igali (middle), briefing newsmen after a preparatory meeting to strategise on the scheduled handover of PHCN Successor Companies at the Presidential Villa in Abuja, recently. With him are Director-General, Budget Office, Mr Bright Okongwu (left) and Director-General, BPE, Mr Benjamin Dikki.

Permanent Secretary, Ministry of Power, Amb. Godknows Igali (middle), briefing newsmen after a preparatory meeting to strategise on the scheduled handover of PHCN Successor Companies at the Presidential Villa in Abuja, recently. With him are Director-General, Budget Office, Mr Bright Okongwu (left) and Director-General, BPE, Mr Benjamin Dikki.

The Minister of Industry,
Trade and Investment, Dr Olusegun Aganga, says 200 million dollars (N32 billion) has been invested in Onne Oil and Gas Free Trade Zones (FTZ).
Aganga, who stated this at an oil and gas trade and investment forum in Onne, Port-Harcourt on Thursday said that the above investment figure was for the last 10 months.
He said that if the figure was added to the four billion dollars capital investment reported in 2012, the latest figure would amount to 4.2 billion dollars (N672 billion).
The forum was organised by Orlean Invest West Africa Ltd. in partnership with the Federal Government.
The theme of the forum was “Investment Opportunities in the Upstream and Downstream Sectors of the Oil and Gas Industry”.
Aganga described the total investment portfolio as a remarkable progress when considered from the standpoint of weak global economy and the huge competition among advanced economies.
He said that the success of the policy on FTZ had increased the demand at the sub-national level of government for a replication of free zones in other parts of the country.
“The Onne Oil and Gas Zone remains a pacesetter, with additional investment of 200 million dollars in 2013, in addition to the four billion dollars capital investments reported in 2012.
“This is indeed a remarkable progress when considered in the light of a weak global economy and the cut-throat competition, even among emerging and advanced economies for inflow foreign direct investment.
“The success of our FTZ policy has invariably increased the demand at the sub-national level of government for replication of free zones in other parts of the country.
“Also an avalanche of applications for setting up business enterprises in the various FTZs keep pouring in from prospective investors,” Aganga said.
The minister said that the genuineness and sincerity of purpose of government to enthrone the private sector as the main driver of growth and development of the nation’s economy was not in doubt.
He said that the theme of the forum, which was the second edition, would not only consolidate the gains achieved in the first edition but would also help to deepen investments in the sector.
“To all intent, the Oil and Gas Industry remains the prime mover of Nigeria’s economy.
“The oil and gas free zone concept continues to be strategic in the facilitation of private sector investments in the sector in line with the nation’s industrial policy,’’ he added.
Given the role of the private sector in driving the national economy toward sustainable development, the minister urged investors to explore the available incentive packages offered by the free trade zones.
He said that the Onne Oil and Gas FTZs would continue to be a catalyst for diversification of the economy into services and downstream sector.
The minister said that Nigeria’s oil and gas zone was the single largest and fastest growing oil and gas free zone in the world.
“Indeed, our national aspiration is to be the petrochemical hub in Africa,’’ he said.
The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, said that the sector offered a global scale of opportunities for both local and foreign investors.
Alison-Madueke said that the Federal Government would continue to provide enabling environment for investments to thrive.

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NPA Assures On Staff Welfare 

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1 week ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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1 week ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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1 week ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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