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FG To Save N1.3 Trn From Oil Subsidy Removal – Maku

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The N1.3 trillion savings expected to be realised from the planned removal of oil subsidy will be invested in the development of key infrastructure in the country, the Minister of Information, Mr. Labaran Maku, has said.

Maku, who disclosed this recently in Abuja noted that the policy would yield enormous benefits to Nigerians.

He said government would not just stop at removing the subsidy but would invest the funds in developing key infrastructure in the country.

Maku said that with the removal of subsidy, the few oil importers who have been shortchanging Nigerians would have no such opportunity as corruption would cease in the sector.

“Immediately the subsidy is withdrawn, the idea of spending N1.3 trillion on a few oil importers would end: the corruption that is associated with it would disappear.

“Secondly the money that government is borrowing and wasting on subsidy would now be transferred to deal with issues of infrastructure.

“We want real mass transit in the country: you can’t talk of mass transit without the railways, government has decided to rehabilitate all the existing railway lines in the country to make them functional.

“Already 25 trains have been imported, we want to make sure that this rehabilitation is quickly expeditiously carried out; already the line from Lagos to Kano has been rehabilitated up to Jebba.”

According to Maku, work is also going on the rail line between Zaria and Kano while work has also started on the Standard Gauge between Abuja and Kaduna.

The minister said that the lines between Port Harcourt and Enugu to Otukpo, Markurdi, Lafia, Kafanchan, Jos, Gombe and Maiduguri would also be rehabilitated.

He said that the lines from Gudi in Nasarawa State would also be connected to Abuja, adding that when completed people could travel from Abuja to Port Harcourt by train.

Maku said that some private sector operators have indicated interest in the construction of a speed train line from Lagos to Abuja.

“That is the mass transit we are talking about; it would make our roads safer, it would reduce the level of vehicles on our roads, in addition to that, it will make it cheaper for Nigerians to travel to the rest of the country.

“Even the elite that are going by air now, they would find cheaper ways of travelling: this is what is going to develop Nigeria.

“And then this capital cannot come from government: government money cannot do these things; therefore the rail system would be completely restored and Nigerians will have alternative means of transportation.”

He said that the government would also deliver on all the roads in the country once the fund used in subsidising fuel was withdrawn and invested in the right places.

“We want to deliver on all the roads: the East-West roads, the Ore-Lagos-Benin road up to Port Harcourt: the Abuja-Lokoja-Benin road will be rehabilitated: the Maiduguri-Kano road will be completely built.

“The Oweto bridge which crosses Benue and Niger will be built, all these we are going to deliver.”

Cue-out audio 3 (Maku on infrastructure)

He disclosed that part of the money from the subsidy removal would be directed towards the power plants as part of measures to stabilise electricity supply in the country.

According to the minister, the Mambilla Power Plant, which will be the biggest hydro-electric project in West Africa with a capacity of 2,600 megawatts, will also be built from the money that would be recovered.

Cue-in audio 4 (Maku on infrastructure)

“Plans have been concluded, immediately this subsidy issue has been put behind us, work on that plant will take-off: we are going to make sure that all existing dams in the country will generate electricity.

“So part of this money, 1.3 trillion would go into speeding up the stability of electricity supply in Nigeria.”

Maku said government would deliver on its promises within the next three years so as to guarantee adequate and stable power supply while tackling the problems of unemployment in the country.

On Agriculture, the minister said that the Federal Government was planning a whole scale programme of growing rice to make Nigeria self sufficient in rice production.

He said that about 400 metric tons of rice would be produced in areas with comparative advantage in rice production in the country. (NAN)

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Maritime

Shippers’ Council Registers 160 Port Operators

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The Nigerian Shippers Council (NSC) says it has registered 160 Port stakeholders into its Regulated Port Service Provider and Users platform since the initiative began in 2023.
Executive Secretary, NSC, Mr Pius Akutah, made the disclosure on the sideline of a sensitisation programme by the commission for port operators in Lagos, with the theme, “Regulated Port Service Provider and Users”.
Represented by the Director, Consumer Affairs, Chief Cajetan Agu, Akutah emphasised the significance of the programme for stakeholders.
He said the sensitisation programme was the second edition after its commencement during the last quarter of 2023.
The Secretary said the 160 registered port operators consist of agencies, terminal operators, shipping companies, individual port users as well as service providers.
“We invited the ports stakeholders for enlightening them on the processes for online registration of Regulated Port Service Provider and Users.
“We have demonstrated to them how to register and how to make payment and we were able to present before them the various categories of the registration.
“The rate of payment is also in the registration. The payment of each group depends on the operation. A shipper pays N30,000, terminal operators and shipping companies pay N300,000, truckers also pay N30,000, while some pay N50,000 and N100,000.
“The Council was able to intimate them on the benefits, because port users benefit more as we help to interface on reducing port charges from time to time”,  Akutah said.
He said  that there was a need to continue to work with port operators to stop delays and eliminate high costs to make the port efficient.
Also speaking, the Deputy Director, Stakeholders, Service, NSC, Mr Celestine Akujobi, said “the sensitisation exercise was important for the council to enable us bring all the port stakeholders together”.
According to him, this is to avoid challenges during the implementation of the council’s responsibilities.
“By the time we introduce sanctions on defaulters, no operators will complain that he or she is not aware of the registration.
“I’m happy with the turnout of this sensitisation. This shows that the operators are well informed of the statutory friction of the council as the port regulator.
“The final implementation will commence as soon as we discover that all the operators have keyed into the portal.
“We are engaging other ports across the country and we’re hopeful that before the last quater of 2024, the council will implement sanctions on defaulting operators”, Akujobi said.
Earlier, Vice Chairman, National Association of Government Approved Freight Forwards (NAGAFF), Dr Ifeanyi Emoh, said  port challenges were enormous, adding that they originated from some of the government agencies.

Emoh urged the council to look into regulating other government agencies, so that there could be a window through which they can collect port charges collectively instead of indiscriminately.

By: Chinedu Wosu

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Business

Chivita, Hollandia Reward Outstanding Trade Partners At Annual Conference

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Chivita| Hollandia (CHI Limited) leading fruit juice and value-added dairy manufacturer in Nigeria has rewarded its long standing distributors at the recently held 2024 Distributor Conference. The event with the theme, “Break Boundaries Exceed Expectations” served as a platform to recognise and reward the exceptional contribution of the distributors and wholesalers who play a critical role in Chivita|Hollandia (CHI Limited) success and business goals for the year.
The Distributor Conference was held in two sessions. While the morning session featured keynote addresses, industry insights and brand immersion experience, the evening session was a cultural display of elegance and funfair that culminated in the award presentation and recognition of the contribution the trade partners made to the company in the 2023 year under review.
A key highlight of the event was the award ceremony which acknowledged outstanding trade partners in various regions across the country. The awards recognized commitment, dedication, and outstanding performance in areas of sales growth, brand promotion, and market expansion.
Eelco Weber, Managing Director, Chivita|Hollandia (CHI Limited), stated that the company’s success story is incomplete without the strong partnerships it has built with trade partners. “Today, we celebrate not only the achievements, but the collaborative spirit that has made our growth possible” he said.
Bola Arotiowa, Chief Commercial Officer, Chivita|Hollandia (CHI Limited), in his statement revealed that, the event which was first of its kind will continue to be an annual meeting to enable the company work more closely with its distributors, share insights and action points, help the trade partners familiarize themselves with the company’s goals and objectives for each year, and serve as a driver for mutual success.
“Our distributors are the backbone of Chivita|Hollandia (CHI Limited). Their relentless efforts in distributing our products, promoting our brands, and expanding our reach across the nation is truly commendable. As the bridge between us and our valued consumers, it is very important to reward their hard work and dedication for being an essential part of the Chivita|Hollandia (CHI Limited) family. Together, we will continue to deliver great products to our conusmers which in turn will deliver value to them”, Mr. Arotiowa added.
Speaking at the conference, HajiyaBilikisuSaida, Chief Executive Officer of Smabirm Nigeria Limited, who won the Outstanding Distributor of the Year in North 1 region, and got a reward of two million Naira worth of Chivita|Hollandia (CHI Limited) products expressed delight at the company’s recognition, and stated that the awards served as a way to inspire distributors to do more and put in more effort, which in turn would help both the distributors and the company to grow.
Other outstanding performance distributors of the year rewarded with a two million Naira worth of Chivita|Hollandia (CHI Limited) stock include, Sunny Chuks Limited for East 1 region, MRS FA & Sons Limited for East 2 region, Hussakas Ventures for North 2 region, Rookee 1388 Ventures for Lagos 1 region, Pik N Pil Ventures for Lagos 2 region, FaithJoe Event Management Limited for West 1 region, and Progress Family Nigeria Enterprise for West 2 region.
The annual Distributors Conference aims to strengthen the bond between Chivita|Hollandia (CHI Limited) and its trade partners. This collaborative approach fosters mutual growth and ensures the continued success of the brands in the Nigerian market.
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Business

AXA Mansard Backs Female-Owned MSMEs With N1.4m Grant

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A global leader in insurance and asset management, AXA Mansard, has supported three female-owned MSMEs with business grants totaling 1.4 million to boost their operations.
This, the company said, is part of its commitment to women and the Medium, Small, and Medium-scale Enterprise (MSME) sector in the country.
The three businesses were successful at the International Women’s Day Pitch Competition, organised in partnership with SME 100 Africa in Lagos.
According to the Head of Marketing, AXA Mansard, Olusesan Ogunyooye, the competition, which is aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria”.
The business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition.
Ogunyooye said “the programme provided a unique opportunity for women from various works and socio-economic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community”.
He stressed the importance of investing in women, saying it is not just the right thing to do, but also aligns with AXA’s purpose of acting for human progress.
He explained that AXA believes the future of women should not be at risk, hence investing in their economic empowerment is a crucial part

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