Business
Petrol Monitoring: Marketers Foresee Committee’s Failure
Following the inauguration of a Committee by the Rivers State Government to monitor the activities of Petroleum marketers, especially those who have refused to revert to the approved pump price of N97.00 per litre, The Tide undertook a survey of some filling stations in and around Port Harcourt to ascertain the level of compliance.
Some of the filling stations visited within the week have revealed that the Marketers are not moved by the existence of the Monitoring Committee given the present circumstances.
Along the Aba Road axis, some of the filling stations were not dispensing or selling the product probably due to non-availability of the product.
One of the Oando Stations visited near the Leventis Bus Stop, though was not selling at the time of visit, but it was gathered that they did not have the product.
One of the pump attendants whom The Tide interviewed said they are out of stock, but could not tell the reason why they don’t have product when asked.
Another filling station owned by Conoil on Aba Road was equally not selling the product, as one of the workers told The Tide that they are carrying out some repairs works in their station, and as such have not placed order for the product.
Meanwhile in one of the filling stations owned by an Independent Marketer on Aba Road close to the Local Government Pension Board, some black marketers where seen clustering within the premises, as one of them told The Tide that they sell 10 litres of petrol for N1,800 or N2,000.
It was also gathered that the product sells at the filling station at the rate of N110 per litre.
At SOBAZ Station near Rumuokuta, the product goes for N115 per litre, while at Shiz filling station in Rumuosi, it is sold for the same N115 per litre, as well as in AP station at Alakahia in Akpor which also sells for N115 per litre.
However, a visit to one of the Conoil stations near the Abali Motor Park in Port Harcourt revealed that the reason for the non reverting to the approved price of N97 was due to the scarcity of the product and the difficulty faced by petroleum Marketers at the moment on purchasing it.
The Manager of the said Conoil station, who did not further disclose his identify told The Tide that the stock NNPC has is not enough for dealers, adding that the Conoil is the only Tank farm that has product.
According to him, it is the scarcity situation that has given room for the sale of product above pump price, pointing that marketers buy the product at the rate of N101 at the depot.
Corlins Walter
Business
NOSDRA Targets Improvement On Oil Sector Environmental Regulations
The National Oil Spill Detection and Response Agency has vowed to improve environmental regulations in the petroleum sector by accelerating memoranda of understanding with industry operators, ensuring they align with international standards.
NOSDRA’s Director-General and Chief Executive Officer, Engr. Chukwuemeka Woke, disclosed this in Abuja while playing host to members of the Clean Nigeria Associates Board of Directors, according to a statement from the agency recently.
According to the statement, the visit underscored the agency’s collaboration with industry stakeholders to bolster environmental safety in oil spill detection and response.
Woke expressed gratitude for the CNA’s congratulatory message following his appointment and acknowledged the association’s recognition of NOSDRA’s regulatory role.
He assured CNA that the agency will prioritise their requests and expedite the MOU process to ensure that petroleum companies operate in compliance with global environmental standards.
CNA’s Chairman, Dr. Adeshina Sadiq, who also serves as the General Manager of Health, Safety, and Environment at Seplat Energy, conveyed the association’s congratulations to Woke.
He stated the CNA’s desire to deepen collaboration with NOSDRA and move the MOU beyond paperwork to practical implementation.
Sadiq also proposed that NOSDRA expand CNA’s role in the biennial Global Initiative for West, Central, and Southern Africa summit, advocating for broader regional participation in oil spill response efforts, including in the Gulf of Guinea.
He called for the inclusion of a CNA board member and an executive in future summits to enhance their engagement.
While expressing the association’s quest for regional positioning by collaborating in oil spill response beyond the shores of Nigeria, including the Gulf of Guinea, Sadiq, according to the statement, urged “NOSDRA to expand the representation of CNA’s participation in the biennial GI-WACAF summit to include a board member of the association and another from its executive”.
Business
Customs, Rep Collaborate On Economic Growth, Security
The Nigeria Customs Service (NCS), through its Industrial Area Command, is set to collaborate with stakeholders to strengthen security, foster economic growth and build a brighter future for the Amuwo Odofin Federal Constituency, Lagos State.
When the member representing the constituency at the House of Representatives, Hon.George Olawande, paid her a courtesy visit, the customs area controller, Odeworitse Rebecca, said the command will collaborate with the constituency in accordance with the comptroller-general of customs, Bashir Adeniyi’s policy thrust.
According to Odeworitse, the command is working diligently to facilitate trade, generate revenue, and identify new factories for excise control.
“The command is responsible for supervising, collecting, and accounting for excise duty from factories producing excisable goods. We work diligently to facilitate trade, generate revenue, and identify new factories for excise control. Therefore, all corporate social responsibilities (CSR) regarding community development are forwarded to the headquarters for approval of the CGC.
“The Lagos Industrial Area Command’s doors are opened and fully prepared to collaborate with our stakeholders to strengthen security, foster economic growth and build a brighter future for the constituency in accordance with the CGC’s policy thrust.
“Close collaboration between stakeholders and security agencies is essential for sustainable development”.
However, the CAC said in accordance with the World Customs Organization (WCO) theme for 2024 International Customs Day (ICD) celebration ‘Customs Engaging Traditional and New Partners with Purpose’, further stated that, the Lagos Industrial Area Command shares in the constituency’s belief and dedication to the community.
She further called for closer collaboration and continued partnership in ensuring the effective and efficient operations of the Service in Festac Town.
Speaking earlier, Hon.Olawande said he was on a collaboration tour to security agencies within the constituency towards community development of the constituency.
Business
FG, Russian Consortium Sign Agreement On Ajaokuta Steel Plant Rehabilitation
The Federal Government has signed an agreement with a Russian Consortium Company for the rehabilitation, completion and operation of the Ajaokuta Steel Plant and National Iron Ore Mining Company in Kogi State.
The Head, Press and Public Relations Department, Ministry of Steel Development, Salamatu Jibaniya, disclosed this in a statement recently.
According to the statement, the agreement was signed by the Minister of Steel Development, Shuaibu Audu, when he led a Nigerian delegation to Moscow, Russia, on a working visit.
According to the statement, “The Federal Government of Nigeria through the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, who led a Nigerian delegation to Moscow, Russia from 14th – 21st September 2024, on a working visit, has signed a Memorandum of Understanding (MoU) with the original builders of Ajaokuta Steel Plant Messrs, Tyazhpromexport (TPE) and members of their consortium namely; Novostal M and Proforce Manufacturing Limited for the Rehabilitation, Completion and Operation of Ajaokuta Steel Plant (ASP) and National Iron Ore Mining Company (NIOMCO) in Kogi State, Nigeria”.
It explained that the call was accepted by the Russian Federation when a consortium led by Messrs TPE visited the steel plant in Ajaokuta and the iron ore mining site at Itakpe in August 2024 for preliminary inspections leading to the invitation for the signing of the Memorandum of Understanding.
Audu said this is a bold step towards creating a sustainable base for the industrialisation of the Nigerian economy, noting that the revival of the steel sector will also reduce the importation of steel products into Nigeria, which is estimated at over $4 billion annually and will help save scarce foreign exchange.
The statement further said during the visit, the Nigerian delegation met with the Deputy Minister of Industry and Trade of the Russian Federation, Alexey Gruzdev, and the consortium, led by TPE, assured the Nigerian delegation of the readiness of the consortium to meet the expectations of the MoU with the Nigerian government.
In his remark, the Permanent Secretary, Ministry of Steel Development, Chris Isokpunwu, affirmed the commitment of the Nigerian government to revamp the Ajaokuta steel project and national iron ore mining company.
The President of Metallurgical Holding, “Novostal – M”, Demchenko Ivan Ivanovich, assured the delegation of their readiness to submit a detailed proposal for the project after the comprehensive audit of the plant.
The General Director of Messrs TPE, Egorov Sergei Anatolevich, and the Group Managing Director of Proforce Manufacturing Limited, Adetokunbo Ogundeyin, assured the Nigerian delegation of their commitment to the project because of its critical role in the overall economic development of Nigeria and requested the provision of an enabling environment by the Nigerian government.
“The parties expressed their optimism that the full implementation of the MoU will facilitate the revival of both Ajaokuta Steel Company Limited and National Iron Ore Mining Company and could create over 500,000 direct and indirect jobs for Nigerians and increase the size of the economy by billions of dollars thus contributing immensely to President Tinubu’s desire to grow the economy to over $1trillion by 2030″, the statement continued.
The steel company, located in Kogi State, was built between 1979 and functioned up till the mid-1990s, but it has become moribund.
In September 2022, the Nigerian government agreed to pay $496 million to settle an Indian firm’s claim over the facility.
The dispute followed the Federal Government’s revocation in 2008 of an agreement that handed control of the steelworks and the National Iron Ore Mining Company to the Indian firm.
In cancelling the deal, the Umar Yar’adua administration said the terms of the concession at the time were not favourable to the country.
-
News4 days ago
Lagos Arrests 25 Miscreants, Seizes Hard Drugs
-
Politics4 days ago
Mutfwang Promises Non-interference In Plateau LG Polls
-
Agriculture4 days ago
FG, Ogun Distribute Inputs To 2,400 Farmers
-
Rivers4 days ago
Revive Nigeria’s Economy, Cleric Urges Tinubu, Leaders
-
News4 days ago
EU Earmarks $11bn For Flood-Hit Nations
-
Politics4 days ago
Nigeria’s Progress Dependent On Leaders Of Character – Utomi
-
Women4 days ago
Women Can Curb Indecent Dressing
-
Featured4 days ago
Nigeria @64: We’ll Not Surrender To Barefaced Blackmail – Fubara …Lauds President Tinubu’s Robust Economic Reforms …•Promises To Always Put Rivers People First