Business
Oando Partners Navy On Fuel Supply
Oando Nigeria Plc has
boosted operations of the Nigerian Navy by providing it with a one-million-litre fuel storage capacity tank.
The Group Managing Director of the firm, Wale Tinubu disclosed this Monday at the commissioning ceremony of the facility stressing that the step would guarantee uninterrupted supply of fuel for operations of the naval ships.
Tinubu who was represented at the event by the Chief Executive Officer, Oando Marketing Company, Yoni Awobokun, noted that the project was in line with Navy’s Transformation Agenda of Providng effective monitoring services of the nation’s water ways.
According to him, efforts are on to also build the facility in all naval stations across the nation as part of effort to make the institution more formidable in Africa.
“We have articulated our plans, and we are working with the Navy’s top brass to replicate the structure in Navy-owned facilities. The Navy conceived the idea of having a fuel gas storage facility in its formation, and we have keyed into it,” he said expressing happiness that Navy approached the company on the issue.
“Oando is working with the Navy on how to provide and implement new initiatives and make its roles unparallel in the continent soon. We have since positioned ourselves as a partner with the Navy in order to help, strengthening the force,” he stated.
Tinubu disclosed that the company has tanks of fuel buried in Navy facilities at Victoria Island and Apapa in Lagos to help the Navy access the product for operations.
The Chief of Naval staff, Vice Admiral U.O. Jubrin said the Navy and Oando have evolved partnership arrangement in the last 18 months for growth.
Represented at the event by the Chief of Logistics, Naval Headquarters, Rear Admiral Ikot Iboa, he said the facility would change the process of delivering fuel to the Navy.
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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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