Business
PH, Warri Refineries Get New MDs
The management of the Nigerian National Petroleum Corporation (NNPC) on Monday approved the appointment of new managing directors for the Port Harcourt Refining Company (PHRC) and Warri Refining and Petrochemical Company (WRPC).
The new managing directors are Mr Ian Udoh for PHRC and Mr Paul Obelley for WRPC.
This is contained in a statement by the acting Group General Manager, Public Affairs Division of the NNPC, Mr Fidel Pepple.
He said that a number of other management staff members were also promoted while others were re-deployed.
He named those promoted to include Mr Farouk Ahmed, formerly Executive Director, Commercial, PPMC, now Managing Director NIDAS; Mr Samuel Babatunde, formerly Executive Director Operations of the Warri Refinery, now Project Director Olokola Liquefied Natural Gas Project;
Also promoted are Mr Abdullahi Dandume, formerly Executive Director Operations, Nigerian Engineering and Technical Company (NETCO), now Managing Director NETCO and Aliyu Sambo, who was General Manager, M&P, now Group General Manager, Accounts.
Aholu Beks was also promoted as Group General Manager Information Technology Division from his previous position as head of Information Services Department.
Dr Edwin Bako, Medical; Mr Sylvester Idemudia, Greenfield Refineries and Okhes Jonathan, Power, were also promoted as Group General Managers.
Others are Benjamin Obaigbena, Research and Development and Dan Efebo, Human Resources.
Those re-deployed include Gabidon Meheux, former Senior Technical Assistant to the Minister of Petroleum Resources, now Managing Director, NNPC Services and Chris Osarrunwese, former Group General Manager, Human Resources, now Group General Manager, Downstream Business Development.
Mr Bayo Ibirogba, former Group General Manager, Greenfield Refineries, now takes charge of engineering in the same capacity.
The NNPC spokesman said all the appointments took immediate effect.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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