Business

FG Halts Refineries’ Privatisation, Says Ajaokuta Steel’s Problem, Complex

Published

4 years ago

July 14, 2021

The Federal Government has halted its plan to privatise Nigeria’s refineries following demands by the Nigerian National Petroleum Corporation NNPC to allow the corporation revamp the dormant facilities.
Also, the Federal Government said on Monday that the problem with the Ajaokuta Steel Company was very complex, although efforts were ongoing to resolve the issues.
Director-General, Bureau of Public Enterprises, Alex Okoh, who spoke to newsmen in Abuja while presenting updates on the bureau’s 2021 work plan, said all the refineries under the NNPC management were in various stages of non-production.
He said, “We have four refineries with refining capacity of 445,000 barrels per day and they are all at various stages of non-production. I don’t have the figures correctly, but I think that Warri would be around five per cent, Port Harcourt around 19 (or) 20 per cent and Kaduna is zero.
“Dangote (Refinery) is looking at about 650,000 barrels per day, so the combined refining capacity for all of our four refineries is not even up to that. This means you are going into a space where competition will almost kill you.”
Okoh added, “So we thought we should privatise, but NNPC believes that the plants can be rehabilitated and they have got the government approval to go ahead and rehabilitate the refineries.
“So we have dropped the privatisation from our 2021 plan. But I’m sure we will follow with keen interest how the rehabilitation programme of the NNPC will go from here.”
The Federal Government had earlier in the year stated that it would sell or give out in concession some of its assets in order to raise funds to finance the 2021 budget.
In January 2021, the Minister of Finance, Budget and National, Zainab Ahmed, told lawmakers that the Federal Government would sell selected properties to fund this year’s budget.
On Ajaokuta steel, the BPE boss described the problem with the plant as being very complex.
Okoh said, “For Ajaokuta, it’s a very complex issue. Currently there are negotiations with GINL, who are the original concessionaires of Ajaokuta and it’s a very complex problem to untangle.
“But I can, without divulging too many details, state that we are close to being able to resolve the issue, especially the litigation around Ajaokuta and once that is done we can then go ahead and take a decision on what to do with Ajaokuta.”

Business

NPA Assures On Staff Welfare

Published

5 days ago

June 27, 2025

The Tide

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

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

5 days ago

June 27, 2025

The Tide

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

Business

NSC, Police Boost Partnership On Port Enforcement

Published

5 days ago

June 27, 2025

The Tide

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