Nation
NNPC To Generate $600m From Marginal Fields -Minister
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says his ministry is expected to generate $600million from its new Marginal Fields.
The minister made the disclosure at the fifth edition of the Special Ministerial Briefings coordinated by the Presidential Communication Team, held at the Presidential Villa, Abuja, yesterday.
Sylva stated that the process for the acquisition of the marginal fields had been completed and there were 161 winning bids and they had been notified.
“We have started to receive signature bonuses paid by the winners.
“At least from the last account report I got from DPR, almost 50 per cent of the winners have paid. What we are expecting from the whole process is about $600million.
“And of course, we have also given allowance for people to pay in Naira so you have to pick which currency to pay in – in Naira or dollars.
“So, at this point we cannot give any figure in any currency but just to tell you that payments have been encouraging and they have up to April 20, 2021.
“So, there is some time although the jury is still out but we believe that by April we would have got a lot of them to pay,’’ the minister said.
On why the government is investing $1.5billion on rehabilitation of Port Harcourt Refinery when at the same time it is talking about privatization and commercialization of the oil and gas industry, the minister said.
“I have always said that our refinery cannot survive with the regime of subsidy; because you cannot be refining at a cost and selling at a subsidized rate.
“Now that constraints will be taken away by deregulation – that is the more reason why we must fix our refineries so that our refineries can now function optimally.’’
The minister maintained that it would be better for government to privatize a functional refinery as it would fetch more revenue for the treasury.
“A functional refinery will definitely fetch more for the government than a non-functional refinery.
“That’s why we feel that we gave to rehabilitate this refinery and then the government will later decide on whether to privatize, whether to commercialize.
“But at this point we want to give Nigerians a functional refinery,’’ he said.
According to him, the government resolved to rehabilitate the refinery based on the recommendations of experts.
Nation
Rivers Deputy Governor Hails PH City One Love For Humanitarian Gesture
Rivers state Deputy Governor Professor Ngozi Nma Odu has commended “The Port Harcourt City One Love,”a Port Harcourt based humanitarian orgnisation For it’s commitment towards alleviating the sufferings of the poor and vulnerable in the society.
Professor Ngozi Nma Odu said this while speaking at this year’s edition of “operation feed the needy” a yearly outreach program of “The Port Harcourt City One Love ” in Port Harcourt.
The Deputy Governor said by feeding more than sixty thousands hungry people within the past six years, the Port Harcourt City One Love Movement has distinguished itself as a club that cares for the less privilege in the society.
She commended the , organization for listing eleven thousand persons to be fed in the current exercise.
Meanwhile The Port Harcourt City One Love has planned a permanent solution to the problem of feeding the poor in the state.
The leader of the group Mr Idaere Gogo Ogan who said this in an interview with newsmen during the distribution of food items to the poor and vulnerables in Port Harcourt said the organization is planning a permanent food kitchen where poor and vulnerable persons can work in anytime and get fed.
Idaere Gogo Ogan said more than sixty thousands poor and vulnerable persons across Port Harcourt City and environs have been fed since the inception of “The operation feed the needy” program six years ago,adding that so far sixty thousands poor and vulnerable persons have beneffited.
He described the group as a platform to promote friendship, brotherhood, community development empathy and feeding the less privilege and hungry people
“That’s what we are doing today here,so we started the exercise six years ago”.he said.
Ogan said the effort was a private sector driven initiative but added “it also involves people in Government because the platform does not recognize any division,we bring everybody together in unity , friendship and brotherhood”he said.
He said the effort will go along way in alleviating hunger especially following the prevailing hunger in the country.
According to him “you know the country is very tough, people are hungry people are starving, there is a whole lot of economic hardship,so for us, this is just our own way of reaching out, our own social contribution to what is very difficult”he said.
Over eleven thousand persons were fed in the just concluded exercise.
Areas of coverage include, Isaac Boro park, Port Harcourt prison/Macoba, Borokiri/Enugu waterside Bundu areas Waterlines and others.
Some of the beneficiaries including an 80 years old widow commended the movement for the annual programm and urged other organizations to emulate them
John Bibor,/Esuuk Oyet/Suotor Memoye /Jeremiah Hannah
Nation
We’ll Partner Private Sector to Industrialize Rivers State – Fubara …Hints Revitalization of Ahoada, Trans Amadi Industrial layout
Nation
SheVentures Open Zero-interest Loan Applications for Women Entrepreneurs
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively. Women-led enterprises are critical to economic activity, yet they face structural barriers.
“This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs”, Edun said.
Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB), Nnenna Jacob-Ogogo said access to affordable finance remains a major constraint for women entrepreneurs.
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