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FG Targets 11.5m Litres Of Petrol As PH Refinery Rehab Begins

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The Federal Government is targeting about 11.5million litres of petrol from the Port Harcourt Refinery at the completion of the first phase of the rehabilitation exercise.
This was disclosed by the Managing Director of the Port Harcourt Refinery, Ahmed Dikko during the kick-off of the rehabilitation exercise, yesterday.
The Federal Executive Council had in March, 2021, approved $1.5billion for the rehabilitation of the refinery which is expected to be completed in 44 months and three phases.
The managing director of the refinery, who spoke to newsmen, said it will work at a 90% capacity when the first phase of the exercise is completed within 22 months.
Dikko said, “Once we are done, we hope to produce at a minimum capacity of 90% and above. So, basically, we would have a lot of products that we use in Nigeria, today, produced from this facility going forward”.
“At least, close to about 11.5million litres of PMS every day will be churned out from the facility, that is more than enough to satisfy requirements around the environment and beyond”.
Dikko also said the management of the refinery has commenced community engagement to enable them have a peaceful environment to carry out the project.
He explained “we have commenced stakeholders’ engagement with the host community. We don’t just want to provide employment; we want them to be partners in this project. So, yes employment, they will have priority around that but then there are other things that they will require, that we will be ready to do for them as we journey into this project”.
“We will partner together with the contractor and satisfy this community engagement in a way that we will have a peaceful environment to do this project”
Also speaking, the Chief Operating Officer of the Port Harcourt Refinery, Mustapha Yakubu, said the project will create about 3,000 jobs for the local community and the expatriates that will work there.
Similarly, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, has assured Nigerians that the Port Harcourt Refinery Complex (PHRC) will roar back to life on or before April 5, 2023 when repairs would have been completed.
He gave the assurance, yesterday in Eleme, Rivers State, at the technical kick-off of the rehabilitation of the PHRC.
Kyari, who was represented by the Chief Financial Officer of NNPC, Mr Umar Ajiya, said that the management team hopes that Area 5 of the complex would be ready on the aforementioned date so that local petroleum refining can resume in Nigeria after decades of lull.
According to him, the NNPC management remains totally committed to supporting the contractor, Maire Technimont SPA, to ensure schedule optimisation by cooperatively dealing with any snags that may delay project delivery.
He assured of NNPC’s support wherever needed, either internally and externally.
Kyari said, “Nigerians expect their refineries to be up and running even though a giant one is coming. This is paramount to them.
“This is first time we’re carrying out a major rehabilitation. Technimont is an excellent company and we expect the best.
“We thank all stakeholders involved in achieving this milestone.
“We are available to support this project fully and will play our part. We will pay our contractor as and when due according to milestone achieved. We shall commit to any approval needed and visit from time to time to see the plant.
“We are happy we have the contractor onboard. With strong collaboration of all parties involved, we will achieve the desired results. We have both government and private sector financing. We have the finance ministry, NEITI, unions and other stakeholders on board this project. They want to see transparency so they can report same to Nigerians and this is one of the most transparent processes ever”, he stated.
Also speaking, the Chief Operating Officer, Refinery Development, Mr Yinusa Yakubu, said that a rigorous path was trod to select the contractor (Technimont) for the Engineering, Procurement and Construction (EPC) stage of the refinery rehabilitation contract.
He ruled out the possibility of incurring additional costs but thanked the Federal Government for the release of $1.5million for the project.
He said that 3,000 people will work on the project.
“We can’t afford to fail or ask for more. We target at least 90% refining capacity when operational. It must be hitch-free and that is why we are engaging the host communities appropriately. 200 million Nigerians are looking up to us and we can’t afford to fail. We’ve been on this journey since 2019.
In his presentation, the Managing Director of PHRC, Ahmed Dikko, said that the complex has the first and newest government-owned refinery.
He added that Turnaround Maintenance (TAM) was done in 1992, 1994 and 2000.
“Federal Government approved the use of original refinery builders as single bidder for TAM in 2011 but the Presidency approved the change in strategy from ORB to selective bidder in 2020.
“All process plants 1&2 have been made hydrocarbon free ready for plant handover. The cleaning of 10 storage tanks is ongoing, since our waste water treatment has some oil; but they’re being made hydrocarbon-free. The refinery was commissioned in 1965″.
In his contribution, the representative of the contractor, Maire Technimont SPA, Masu Alberto, said that the journey started in 2017 with integrity test of the refinery.
“In 2019, we did work on it and then now.
“We’re deploying a good number of engineers. Due to the pandemic, it’s quite challenging deploying people but we have to trudge on”, he said.
He added that the technical building will be refurbished, just as the fire-fighting and deluge sprinkler systems will be replaced.
He added that 24 offsite tanks will be refurbished.
“The replacement of electrical equipment in substation, primary earthen integration and new lighting system is part of the project.
Other things to be replaced are; 437 pumps, 13 turbines, one expander, two boilers, three, 28 compressor fans and blowers, 29 tanks, 192 vessel and drums, 40 secondary distribution panels, 62 transformers, 1,100 control and shutdown valves, 611 safety relief valves, emergency diesel generators, among others”, he revealed.
The actual cost of the PHRC rehabilitation is $1.299billion.
However, when taxes and charges were added, it rose to $1.5billion.
A multi-prong funding strategy is being adopted by the Federal Government.
The next refinery to be overhauled is Warri and then Kaduna.

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Tinubu Orders Security Chiefs To Restore Peace In Plateau, Benue, Borno

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President Bola Tinubu has ordered a security outreach to the hotbeds of recent killings in Plateau, Benue and Borno States, to restore peace to areas wracked by mass killings and bomb attacks.
National Security Adviser, Nuhu Ribadu, disclosed this to State House correspondents after a four-hour security briefing with the President at the Aso Rock Villa, Abuja on Wednesday.
“We listened and we took instructions from him. We got new directives…to go meet with the political authorities there,” Ribadu told reporters, adding that Tinubu directed them to engage state-level authorities in the worst-hit regions.
Director-General, National Intelligence Agency, Mohammed Mohammed; Chief Defence Intelligence of the Nigerian Army, Gen. Emmanuel Undianeye; Director-General, Department of State Services, Oluwatosin Ajayi and Chief of Staff to the President, Femi Gbajabiamila, appeared for the briefing.
The Tide’s source reports that in Plateau State, inter-communal violence between predominantly Christian farmers and nomadic herders spiralled into gory slaughter when gunmen stormed Zikke village in Bassa Local Government early on April 14, killing at least 51 people and razing homes in a single night.
In Benue, at least 56 people were killed in Logo and Gbagir after twin assaults blamed on armed herders.
Meanwhile, in Borno State, eight passengers perished and scores were injured when an improvised explosive device ripped through a bus on the Damboa–Maiduguri highway on April 12.
Ribadu explained that after an extensive briefing, intelligence chiefs received fresh instructions to restore peace, security and stability across Nigeria.
“In particular, Tinubu had ordered immediate outreach to the political authorities in Plateau, Benue and Borno States, and the defence team had gone round those States to carry out his directives and report back.
“We gave him an update on what has been the case and what is going on, and even when he was out there, before coming back, he was constantly in touch. He was giving directives. He was following developments, and we, in charge of the security, got the opportunity today to come and brief him properly for hours. And it was exhaustive.
“We listened and we took instructions from him. We got new directives. The fact is, Mr. President is insisting and working so hard to ensure that we have peace, security and stability in our country. We gave him an update on what is going on, and we also assured him that work is ongoing and continues.
“We also carried out his instructions. We went round, the chiefs were all out where we had these incidents of insecurity in Plateau State, Benue State, even Borno, these particular three states, and we gave him feedback, because he directed us to go meet with the political authorities there,” the NSA explained.
Ribadu described Tinubu as “worried and concerned,” and said he directed that all security arms be deployed around the clock.
The government, he added, believes these steps have already produced measurable improvements, even if the situation is not yet 100 per cent safe and secure.
“He’s so worried and concerned, he insisted that enough is enough, and we are working and to ensure that we restore peace and security and all of us are there. The armed forces are there, the Civil Police, intelligence communities, they are there.
“They are working there 24 hours, and we feel that we have done enough to believe that we are on the right course, and we’ll be able to be on top of things,” Ribadu stated.
The NSA emphasised that combating insecurity was not solely a Federal Government responsibility.
He stated, “The issue of insecurity often is not just for the government. It involves the subunits. They are the ones who are directly with the people, especially if some of the challenges are more or less bordering on community problems.
“Not entirely everything is that, but of course it also plays a significant role. You need to work with the communities, the local governments, and the governors, especially the governors.
“The President will continue to direct that. We should be doing that, and that’s what we are able to. We are very happy and very satisfied with the instructions and directives given by Mr. President this evening.”
In Borno State, the NSA noted that while violence had surged in recent months, the insurgents refused to accept defeat.
He warned that most recent casualties there resulted from improvised explosive devices—”cowardly” IED attacks targeting civilians—and from opportunistic raids that follow any lull in fighting.
“We are getting the cooperation of the leadership at the state level, and everybody. It’s not 100 per cent…but we are going there.
“When you are having peace and you are beginning to get used to it, if one bad incident happens, you forget the periods that you enjoyed peacefully,” he added.
He paid tribute to the “many who do not sleep, who walk throughout, who do not go for any break or holiday”—the soldiers, police and intelligence officers whose sacrifices have created the fragile calm Nigerians now experience.
“They will continue to be there,” he said, adding, “Things have changed in this country…we are on the right track and we will not relent. We will not sit down; we will not stop until we are able to achieve results.”

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FG Laments Low Patronage Of Made-In-Nigeria Products

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A Federal Government agency – the National Agency for Science and Engineering Infrastructure, has decried the low patronage of Nigerian-made products by Nigerians.
The agency identified some challenges leading to the low patronage of the local products as affordability and public perception, among others.
Speaking during a stakeholders meeting organised by the agency in Akure, Ondo State capital, yesterday, the Deputy Director of Engineering at NASENI, Mr Joseph Alasoluyi, said Nigerians preferred buying foreign goods compared to local goods.
Alasoluyi, however disclosed that the agency had trained over 50 participants in the production of hand-made products, in a bid to ensure Nigeria-made products are patronised.
He explained that NASENI was set up to promote science, technology, and engineering as a foundation for Nigeria’s development and currently operates 12 institutes nationwide to achieve its objectives.
According to him, the aim of President Bola Tinubu, who is also the overall chairman of NASENI, was to ensure high production and patronage of “our local products thereby creating employment opportunities for many.”
He said, “The idea of this programme is to interface to ensure we produce products using our indigenous technology. This is what NASENI is out for, to ensure that homegrown technologies are encouraged.
“We are out there to ensure we integrate efforts to ensure that local technology is used to develop products within the resources we have.
“ The NASENI’s ‘3 Cs’ – Creation, Collaboration, and Commercialisation – that define NASENI’s strategic mandate: Creating innovations through research, Collaborating with partners to develop and refine products, and Commercialising these solutions to benefit the economy.
“Our achievements include the development of solar irrigation systems, CNG conversion centres, building machines capable of producing up to 1,000 blocks per hour, 10-inch tablets, locally made laptops, and electric tricycles (Keke Napep) set for market launch.”
In his remarks, the Deputy Vice Chancellor of the Federal University of Technology, Akure, Prof. Samuel Oluyamo, blamed the Federal Government for not properly funding research in the varsities, also noting that many research outputs were left halfway due to lack of funding and weak linkages between research institutions and industry.
Oluyamo also queried the Federal Government’s commitment to funding research and development, saying many academic innovations remained on the shelve due to a lack of support for commercialisation and poor infrastructure.
“Until we upscale research into mass production, technological growth will remain elusive. The government is not funding research in the universities enough. Thank God for TETfund that is trying in this regime. The major interest in beefing up research in universities and research institutions is really not there,” he said.

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Nigeria Seeks Return To JP Morgan Bond Index

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The Director-General of the Debt Management Office, Patience Oniha, has said that Nigeria is in advanced discussions with JP Morgan to re-enter the Government Bond Index and renew investors’ confidence.
Oniha disclosed this on Wednesday at a Nigerian Investors’ Forum on the sidelines of the World Bank and International Monetary Fund Spring Meetings in Washington, D.C.
The DMO boss explained that Nigeria has enjoyed favourable credit assessment among rating agencies in recent times on the back of the sweeping reforms initiated by the Central Bank of Nigeria.
Fitch Ratings recently upgraded the Long-Term Issuer Default Ratings of seven Nigerian banks and two bank holding companies to ‘B’ from ‘B-‘, noting that the outlooks are Stable.
The affected issuers are Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Bank Limited, Guaranty Trust Holding Company Plc, First HoldCo Plc, First Bank of Nigeria Ltd, Fidelity Bank Plc and Bank of Industry Limited.
The upgrades of the Long-Term IDRs of the banks followed the recent sovereign upgrade and reflect Fitch’s view that Nigeria’s sovereign credit profile has become less of a constraint on the issuers’ standalone creditworthiness, the rating agency said.
Fitch also upgraded Nigeria’s Long-Term IDRs to ‘B’ from ‘B-‘ on 11 April, a decision that reflected increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including exchange rate liberalisation, monetary policy tightening and steps to end deficit monetisation and remove fuel subsidies.
“These have improved policy coherence and credibility and reduced economic distortions and near-term risks to macroeconomic stability, enhancing resilience in the context of persistent domestic challenges and heightened external risks,” Fitch said.
Nigeria was removed from the JP Morgan index in 2015 ostensibly due to its deviation from orthodox monetary policies and influence of capital control in its management of foreign exchange.
Principally due to reduction in oil revenues at the time, Nigeria introduced currency restrictions to defend the naira after it failed to halt a dangerous slide with burning of dollar reserves. The bank had earlier warned Nigeria to restore liquidity to its currency market in a way that allowed foreign investors tracking the index to conduct transactions with minimal hurdles.
“Foreign investors who track the GBI-EM series continue to face challenges and uncertainty while transacting in the naira due to the lack of a fully functional two-way FX market and limited transparency,” the bank said in a 2015 note.
Nigeria was listed in JP Morgan’s emerging government bond index in October 2012, after the Central Bank removed a requirement that foreign investors hold government bonds for a minimum of one year before exiting.
The JP Morgan Government Bond Index reflects investor confidence and opens doors to billions of investment flows, making Nigeria’s proposed re-entry a positive signal to the market and investors.
Oniha explained that talks with JP Morgan were ongoing and had gained momentum in recent times due to the stability created by the FX market reforms.
“With all the reforms that have taken place, particularly around FX, we have started engaging JP Morgan again to get back into the index. We think we are eligible now,” the DMO DG said.

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