News
Eunisell Retains Investment Grade Credit Rating
Eunisell Limited, a specialty chemical and engineering solutions firm in Africa, has maintained its national scale long and short-term ratings of BBB(NG) and A3(NG) respectively with a stable outlook for year 2021/2022.
This was revealed in a fresh report by Global Credit Ratings (GCR), an international agency which assigned similar credit status to Eunisell for the year 2021.
The company has sustained its good standing despite the impact of Covid-19, global logistics disruptions and other challenges in the operating business environment during the year.
According to the GCR Report, the ratings indicated slight risk, showing good financial strength, operating performance and business profile when compared to the standards established by the rating agency.
It added that Eunisell rating “balances a strong niche market position, sound revenue trajectory and the substantial liquidity coverage while it reported firmer operating profit in recent years, underpinned by a shift in product mix.”
GCR further stated that the latest rating followed assessment of the companies’ financial performance, capital adequacy, asset quality, liquidity, profitability, risk factors and future outlooks in the medium to long-term period.
“Eunisell maintains well established positions in all its key operating segments. This is underpinned by its long operational track record, ongoing expansion of its chemical blending capacity, and the good brand recognition, which has facilitated long term relationships with industry-leading clientele and global vendors.
“Earnings performance is positive to the ratings, underpinned by the steady revenue progression on the back of continuous product innovation and demand-led volume growth,” it stated.
Speaking on the development, Eunisell Group Managing Director, Chika Ikenga said, “The rating represents a positive milestone for Eunisell and a further confirmation of capacity. Our continued growth and business expansion despite the challenges of a pandemic year is proof of a resilient business model. We will continue to strengthen our operations in order to remain competitive across all key market operating segments whilst delivering value to stakeholders.
“Our good standing has also earned us supports from development financial institution (DFIs) and multi-lateral organisations like BOI and AFREXIM,” he noted.
Eunisell is Nigeria’s foremost specialty chemicals, fluids and energy productions solutions company which has operated for over 25 years in West Africa.
News
COAS Tasks Troops To Dominate Battlespace, Intensify Offensive In N/Central
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has tasked troops of Operation SAVANNAH SHIELD to dominate the battlespace and intensify offensive operations against kidnappers, bandits and other criminal elements in the North Central region.
Shaibu gave the directive yesterday during his maiden operational visit to the Headquarters, Joint Task Force North Central (JTF-NC), at Sobi Barracks, Ilorin.
This is contained in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, in Abuja, yesterday.
Shaibu said the Nigerian Army would remain resolute in its constitutional responsibility of safeguarding lives and property, stressing that troops must sustain pressure to decisively deny criminal elements freedom of action.
He assured personnel of continued deployment of combat enablers and operational resources to enhance clearance operations and dismantle criminal hideouts across Kwara and Niger states.
The COAS reaffirmed his commitment to troop welfare, noting that improved welfare remained critical to sustaining morale, operational effectiveness and combat readiness.
He urged the troops to remain disciplined, professional and loyal to the Constitution and the democratically elected government.
Earlier, the Theatre Commander, JTF-NC Operation SAVANNAH SHIELD, Maj.-Gen. Yakubu Yahaya, commended the COAS for his strategic leadership and support.
Yahaya assured that troops would remain committed and steadfast in restoring peace and stability in the region.
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Obuah’s Victory Excites Former Lawmaker as APC Primaries Conclude in Rivers West
News
Navy Upgrades Training, Infrastructure To Tackle Security Threats
The Nigerian Navy says it is expanding training and infrastructure to address emerging security threats and strengthen operational efficiency across formations and units nationwide.
The Chief of Naval Staff, Vice Adm. Idi Abbas, spoke during the inauguration of projects at the Nigerian Navy Basic Training School (NNBTS) in Onne, Rivers as part of activities marking the Nigerian Navy’s 70th anniversary.
Abbas, represented by the Flag Officer Commanding, Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, said the projects reflected significant progress made by the navy since its establishment in 1956 from the British Royal Navy.
“Training and infrastructure have improved significantly to meet contemporary security challenges and fulfil the navy’s constitutional responsibilities.”
According to him, the anniversary provides the navy an opportunity to reflect on its achievements and contributions over the past seven decades.
Projects inaugurated included a remodelled female trainees’ hostel accommodating more than 500 occupants and an expanded golf course upgraded from one to nine holes.
Others were the NNBTS fuel dump, Chief Boatswain’s Mate House, renovated pharmacy department and a new theatre block at the Naval Medical Centre, Onne.
Abbas described the new theatre as a major milestone for the navy’s medical services.
“Previously, injured personnel requiring surgeries were referred outside the facility.
“With this theatre, surgeries can now be conducted within the base.’’
He added that a 30KVA inverter had also been installed to guarantee uninterrupted electricity supply at the training school.
The naval chief assured officers, ratings and trainees that the navy leadership remained committed to their welfare and wellbeing.
“These infrastructure upgrades show the commitment of the Chief of Naval Staff to addressing operational and welfare challenges promptly,” he said.
In addition, NAVTRAC distributed educational materials to pupils of Community Primary Schools One and Two, Ogale, in Ebubu-Eleme area of Rivers.
Items distributed included exercise books, school bags and other writing materials as part of the navy’s civil-military engagement initiative.
Zipele said the outreach was designed to strengthen relations between the navy and host communities while supporting children’s education.
“Education remains critical to national growth and youth empowerment. Some of these pupils may eventually serve in the Nigerian Navy,” he said.
He noted that the initiative demonstrated the navy’s commitment to educational development, peace, security and sustainable community relations.
Zipele urged the pupils to remain disciplined, focused and committed to their studies while embracing patriotism, integrity and hard work.
He thanked the Ebubu community for its continued support for the naval training command headquarters and the navy.
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