FG Launches Locally Made Barite To Enhance Oil & Gas Drilling
The Federal Government of Nigeria, as part of efforts to boost the nation’s economic growth, has launched made-in-Nigeria Barite, as a way to enhancing oil and gas drilling in the country, last Thursday.
Performing the launching in Port Harcourt, the Minister of Mines and Steel, Mr. Olamilekan Adegbite, said barite was one of the seven strategic minerals designated for top priority development by the ministry, adding that the initiative is poised to save the country millions of dollars spent importing barite.
Adegbite said the ministry would commission an open market place portal that will connect all stakeholders along the Barite value chain to a hub that allows for easy coordination, stocking, effective costing and seamless sale of Barite.
The minister also said President Muhammadu Buhari has been unwavering in the support to the development of solid minerals sector.
“We have facilitated the development of an industrial mineral roadmap to optimize Nigeria’s industrial minerals to meet the standards of the manufacturing, industrial and construction industry so as to reduce import dependency. The desire to facilitate local production of these minerals was geared towards conserving foreign exchange and creating jobs and wealth for the citizenry. Some of these minerals include calcium carbonate, kaolin, barite, gypsum, mica etc.
“With improved funding, spurred by the visionary leadership of Mr. President, we have recorded remarkable results and progress with the roadmap objectives, which is evident in the launch of the Nigerian barite today.
“A major component of this initiative is the promotion of local content in the production, quality assurance and sale of Barite. I am aware that the bags of barite we are presenting today meets the American Petroleum Institute standard, which is the global bench mark accepted by the oil industry.”
Also speaking, the Governor, Central Bank of Nigeria, Godwin Emefiele, commended the Ministry for putting the country among barite producing nations.
Emefiele, represented by his Special Adviser, Anthony Ifechukwu, affirmed that the era of sourcing for foreign exchange for importation of barite was over, while pledging the support of CBN to the development of solid mineral sector.
“I am particularly excited by the fact that the product we are launching today is called the “Nigerian Barite”, a brand I am optimistic will soon develop to be a dominant force in the barite space in Africa and even beyond. The benefits of this exercise cannot be overemphasized as Nigeria will now be a barite-producing country thereby bolstering our capacity to meet the needs of oil and gas fims in the supply chain.
“This activity will not only create jobs but will alleviate poverty, create new specialized skills and ultimately grow our economy’s GDP. The multiplier effect on incomes and indirect jobs also makes this programme a game changer for the economy especially as we enter the post covid-19 era.
“My presence here today is an affirmation ot our support for the development of the solid strategic mineral sector. This historic launch is not only important to us at the CBN but quite timely because we have on our part been engaging with stakeholders in the mining industry,” he said
Obi, Abure Masterminded Apapa’s Attack At Tribunal – Arabambi
The embattled National Chairman of the Labour Party, Lamidi Apapa has alleged that the presidential candidate of the party, Peter Obi and the party’s suspended National Chairman, Julius Abure, on Wednesday, sponsored thugs against him (Apapa) at the Court of Appeal in Abuja, venue of the Presidential Election Petition Court, PEPC.
Apapa was reportedly mobbed by some angry youths who were at the court to witness proceedings in the petition that Obi filed to challenge the outcome of the presidential election that held on February 25.
Speaking on the development, in an exclusive interview with The Tide source on Wednesday, the factional National Publicity Secretary of the party, Abayomi Arabambi, said he was surprised that this was how Obi, Abure and their supporters intended to come at them.
He said, “They attacked some police. They were fighting with press men. It was the security operatives that saved us. They came there to kill today (Wednesday) and we will definitely petition the police.”
When asked to provide evidence, Arabambi said, “We have the video now, the man that removed the cap of Apapa, we know him. We know them. We know all of them.
“We were together in the court when they started attacking us. Are they not Obidients, are they not shouting Obidients, shouting: Thief Thief on us!”
“It shows the character of who that man is. He can not even govern a local government,” he added.
The spokesperson of the Labour Party, has, however, insisted that they will petition the Inspector General of Police over the incident.
Buhari Returns To Abuja From UK Trip
After an additional week in the United Kingdom, where he had gone to attend the coronation of King Charles III, President Muhammadu Buhari has returned to Nigeria.
The President’s aircraft touched down at 4:45 pm yesterday, at the Nnamdi Azikiwe International Airport in Abuja from where he was flown to the Presidential Villa in a chopper.
President Buhari left Nigeria on May 3 for the UK to participate in the coronation ceremony of King Charles III and his Queen Consort, Camilla, of the United Kingdom.
He was initially billed to return to Abuja within the week but had to extend his stay for an additional week to enable him to honour an appointment with his dentist.
Femi Adesina, the Special Adviser to the President on Media and Publicity, announced Buhari’s decision to stay another week in London in a statement.
“President Muhammadu Buhari will be in London, United Kingdom, for an additional week, at the behest of his dentist, who has started attending to him.
“The specialist requires to see the President in another five days for a procedure already commenced.
“President Buhari had joined other world leaders to attend the coronation of King Charles lll on May 6, 2023,” the statement said.
Buhari is expected to hand over the reins of power to his successor and political ally, Bola Ahmed Tinubu on May 29th.
Already the Presidential Villa is taking a new shape as the maintenance officers are effecting necessary repairs of the seat of power.
Hyde Energy Set To Relaunch Luminor Lubricants
Hyde Energy Limited, a global petroleum-trading company with a downstream network in Nigeria, has revealed plans to relaunch Luminor, one of the company’s automotive lubricants.
The Chief Executive and founder of Hyde Energy, Olademeji Edwards, disclosed this recently at a media parley held in Lagos.
Hyde Energy operates across the value chain of the energy industry, and deals with the importation of petroleum products, including Premium Motor Spirit (PMS), Gasoil, Dual Purpose Kerosene (DPK), Jet Fuel, Liquified Petroleum Gas (LPG), automotive lubricants, and Naphtha.
Speaking with the press, Mr. Olademeji said in the next six months, Hyde Energy would be performing a relaunch of its Luminor brand and other products.
“The Hyde Luminor brand is a fantastic brand and has infiltrated the hearts of a few Nigerians.
“We launched that particular lubricant in 2017, and in our first year we sold five thousand litres in a quarter; today we are doing almost three thousand litres in a month, which is not a lot compared to other companies.
“But in the next six months, we are performing a relaunch of our products. We are going launching new labels, new bottles, and a new winning strategy coming into Lagos.
“We have not really been popular in Lagos; we have mostly been operating in the Southeast, Abuja, East and Calabar, which is where we get most of our volumes.
“But you will be hearing more and more of the Hyde Luminor brand going forward in weeks and months ahead, and we will enter into partnership with key people that would help us penetrate the market, and work with stockiest, so they can enjoy and know about us”, he said.
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