Connect with us

Business

Electricity Body, MAN Collaborate On Facility Standardisation

Published

on

The Nigerian Electricity Management and Services Agency (NEMSA) and Manufacturers Association of Nigeria (MAN) are to collaborate to ensure use of quality electrical equipment to check industrial hazards.
Mr Peter Ewesor, the Chief Executive Officer, NEMSA gave the indication yesterday after he met with the Director-General of MAN, Mr Remi Ogunmefun,
Ewesor said the motive for the meeting was to ensure harmonious relationship between the two organisations and avert crisis.
According to him, the meeting is essentially to ensure a cordial relationship between us because members of MAN are industrialists and factory owners.
“Our men visit them from time to time to carry out what we call statutory inspection and certification of electrical installations and facilities.
“We want them to know that our men are their friends and are there to carry out services that will benefit them, staff and the public.
“If their installations are not in good shape and in compliance with our standards, there may be crisis,’’ he said.
Ewesor said there was always the need to check the electrical equipment and installations to ensure they met safety standards.
According to him, as an agency of government that has just come on board, it is incumbent on us to sensitise every segment within the sector.
“It is good that we begin the sensitisation with MAN, so that we can evolve rules of engagement’’.
Ewesor said the agency was planning to set up more zonal offices for effective supervision of electrical installations and other functions.
“We had 15 zonal offices across the country at inception; we have established an additional one to bring it to16 zonal offices.
“We will create additional three or four zonal offices to ensure we move closer to the public, so as to police the industry well,’’ he said.
Responding, Ogunmefun said the meeting was to obtain clarification on the activities of NEMSA.
According to him, we met to seek clarification on the scope of work and activities of NEMSA.
“Now, we know that their activities are backed by law, we have to obey the laws.
“Prior to this meeting, we were not satisfied with their activities because they just visit our factories without informing us in advance.
“This has led to disruptions in our production resulting in huge losses,’’ he said.
Ogunmefun said with the current engagement, conflict and disruptions would be avoided.

Rivers State Governor, Chief Nyesom Wike delivering a speech, during the flag-off of reconstruction of Igwuruta/Chokocho Road, yesterday.                                                                       Photo: Egberi Sampson

Rivers State Governor, Chief Nyesom Wike delivering a speech, during the flag-off of reconstruction of Igwuruta/Chokocho Road, yesterday. Photo: Egberi Sampson

Print Friendly, PDF & Email
Continue Reading

Business

CBN Retains Lending Rate At 11.5%

Published

on

Central Bank of Nigeria (CBN) says it has retained the Monetary Policy Rate at 11.5 per cent.
Disclosing this during a briefing after the first Monetary Policy Committee meeting for the year held in Abuja yesterday, the CBN Governor, Godwin Emefiele, also stated parameters left unchanged.
According to the apex bank boss, other parameters left unchanged are the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.
While announcing the committee’s decision, Emefiele said, “after a careful balancing of the benefits and the downside risks of the policy options, the MPC decided to hold all parameters constant”.
He said this is “believing that a whole stance will enable the continuous permeation of current policy measures in supporting the recorded growth recovery and further boost production and productivity, which will ultimately rein in inflation in the short to medium term”.
“The MPC”, he continued, “thus decided by a unanimous vote, the MPC voted as follows, one, retain MPR at 11.5 per cent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 per cent; and retain the Liquidity Ratio at 30 per cent.”

Print Friendly, PDF & Email
Continue Reading

Business

NARTO Urges FG To Complete Mile 2 Port Access Rd

Published

on

A chieftain of the National Association of Road Transport Owners (NARTO), Alhaji Abdullahi Inuwa Mohammed, has called on the Federal Government to expedite action on the reconstruction of the Mile 2 – Tincan Island Port Road to ease the hardship encountered on the road by commuters and truckers.
Mohammed, who made the call recently, noted that the completion of the reconstruction work on the road was one of the major expectations of the entire maritime stakeholders which was never met in 2021.
“They have to pay attention to the completion of the reconstruction work and make sure that they create enabling environment for the exporters, and also to make sure that the shipping lines do the needful by providing holding bays where trucks can freely go and discharge their empty containers.
“We urge the government to create an enabling environment. If those things are there and the enforcement team is doing what they should do with the Eto, things will get better.
“But we know now that we are having global challenge because about 65% of import has dropped but we know it’s a global challenge. There’s scarcity of containers globally”, he said.
While emphasizing that the Federal Government did a lot last year to encourage export trade, he, however, expressed regret that the system put in place by the Nigerian Ports Authority (NPA), which they thought could have been improved for the exporters, the farmers as well as miners to enjoy was lagging behind.
“If you recall, last year, so many exporters lost their investment because of poor handling and poor facility which resulted to the rejection of some of the items exported by the receiving countries, which is not good for the country.
“So, we do expect that government should pay more attention to see that anything that will disturb the movement of export goods is being taken care of to create an enabling environment for exporters to export their goods”, he stated.
Mohammed, however, called on the Federal Government to de-emphasize tariff increments, adding that it’s not by increasing tariffs, irresponsible revenue drive and creating hardship for the citizens that it would improve the state of the economy, but by fixing charges that would be pocket friendly both to the importers and exporters so as to cushion the hardship on the citizens.

By: Nkpemenyie Mcdominic, Lagos

Print Friendly, PDF & Email
Continue Reading

Business

FG To Convert 200,000 Vehicles To Autogas … Plans 580 Refuelling Centres

Published

on

The Federal Government (FG) says it has perfected plans for the full deployment of autogas in filling stations and the conversion of 200,000 commercial vehicles to run on gas this year.
This was disclosed in a meeting with oil marketers in the downstream sector convened by the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja.
The meeting in which government unveiled the 2022 Framework for the deployment of CNG (Compressed Natural Gas, popularly called autogas) in Nigeria, had in attendance Senior officials of the Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, as well as other key players in the downstream sector.
At the meeting, Sylva told his guests that the government was out to ensure that it made available the alternatives required before the removal of subsidy on Premium Motor Spirit (petrol), stressing that the deployment of autogas was one of such key alternatives.
He also stated that the government would be supporting them with 50 per cent of the conversion kits to fast-track the process, adding that additional support as required would be given, going forward.
“We said we must provide alternative fuel and the alternative that we concluded on was the autogas alternative. To provide it for our people,” the Minister said.
He continued that “Since this agreement between us (government and marketers), a lot of work has been going on and we have come to a certain point where we need to take it further. But we cannot move further without ensuring that you as our partners are fully on board.”
In the framework, the government explained that with abundant gas reserves of about 206.53 trillion cubic feet, a population of about 200 million people, and the enactment of the Petroleum Industry Act, which eliminated the continuous absorption of petrol subsidy, it was now vital to deploy autogas.
The goverent stated that its priority now was the rapid and strategic introduction of Natural Gas Vehicles as an alternative fuel for transportation in Nigeria in line with the approved National Gas Policy.
“This will pave the pathway to full deregulation of the downstream petroleum sector in Nigeria, while reducing the effect of deregulation on transportation costs,” the document read in part.
It added that  “The Ministry of Petroleum Resources was charged with the responsibility to provide autogas (LPG, CNG, LNG) as an alternative and competitive fuel for mass transportation
“CNG was selected as the fuel of choice because it holds a comparative advantage due to its ease of deployment, its comparatively lower capital requirements, commodity’s supply stability, existing in-country volumes, and local market commercial structure which relies predominantly on the naira.
“Hence a single track CNG deployment is proposed in the initial phase and other alternatives can be considered as the market attains maturity.”
Three implementation options were highlighted in the document, as the government stated that in the first option, its target was to convert one million public transport vehicles and install 1,000 refueling centres within 36 months.
For the first 18 months it targets to achieve 500,000 conversions and 580 refueling centres supplied by five Original Equipment Manufacturers, among other targets.
In the plan, the government targets to convert 200,000 commercial vehicles this year, including tricycles, cars, mini-buses and large buses.
The cities captured in Phase 1 of the project include Abuja, Kaduna, Kano, Kogi, Kwara, Lagos, Ondo, Oyo, Edo, Delta, Bayelsa, Niger, and Rivers.
Cities under Phase 2 were listed as Sokoto, Katsina, Jigawa, Borno, Bauchi, Gombe, Yobe, Osun, Ekiti, Enugu, Anambra, Imo, Cross River, Abia, Akwa Ibom and Plateau. For Phase 3 cities, they were listed as Kebbi, Zamfara, Yobe, Gombe, Taraba, Adamawa, Benue and Ebonyi.

Print Friendly, PDF & Email
Continue Reading

Trending