Firm Outlines Progress On Investment, Growth strategy
The Chief Executive Officer of 11 Plc, Mr Tunji Oyebanji, says the company is poised to make progress on its long-term growth plans by investing through the commodity price cycle to capture high-value opportunities, grow earnings and cash flow potential.
Oyebanji gave the assurance while addressing newsmen after a tour to the company’s upgraded facility in Lagos on Sunday.
He said the management of company had invested huge amount, in local and foreign currencies, to upgrade the facility, increase domestic demands and operational efficiency.
According to him, 11Plc is assiduously executing its growth strategy that will lead to sustained improvement in shareholder value.
He noted that the strength of the company’s investment was in its main lines of business which remained a key element of its growth trajectory.
This, he said, include lubricants, Liquefied Petroleum Gas (LPG), Aviation Fuel (ATK) and Petroleum Motor Spirit (PMS).
“The strength of our portfolio and our financial capacity enable us to continuously evaluate our priorities and the pace of investments.
“Barely six years after acquiring the majority stake of ExxonMobil in Mobil Oil Nigeria Plc, 11Plc has invested massively in the facilities and human capital to improve productivity and meet market demands.
“The company has invested heavily in both human and material resources, a feat that has brought tremendous improvement in all areas of its business.
“The new owner is very bullish about Nigeria, we have therefore invested significantly in raising the profile of the company.
“So, we expect it to continue to perform very strongly in years to come.
“With the investments, we are well poised for whatever developments that may come along with the incoming government.
“Of course, you know, there may be policy changes, but we believe that with the investments that we have made, we are well positioned to take advantage of whatever changes that may come with the new government or changes in the economic environment,” he added.
The 11 Plc helmsman said the company had the biggest storage tanks for aviation fuel (ATK) with over 21 million liters capacity and had replaced some loading gantry that were operational before the acquisition.
According to him, the gantry has the capacity to load 70 trucks per day, with four loading arms at full capacity, but currently can load about 35 trucks, per day
He added that the company parades huge four storage tanks for white products.
“Three of the tanks are for petrol with 45 million liters capacity, while one is for aviation fuel with 21 million liters capacity.
On lubricants manufacturing plant, Oyebanji said that the company had done a massive turnaround and currently with a market share of about 20 per cent in the country
On expansion, in terms of LPG, he said the company had increased its investment as part of the efforts to deepen the use of the product, popularly called cooking gas.
He said the company had embarked on expanding its LPG filling plants across the country, while it had already expanded its storage to 8,000 metric tonnes capacity.
He also said the company had already started exploring Compressed Natural Gas (CNG) market with the construction of facilities in Ibadan and Lagos.
“We continue to see improvements and all the investment that has been made in the last few years has contributed meaningfully to the rising profile of 11Plc in the hydrocarbon industry”, Oyebanji said.
The source reports that on April 1, 2017, ExxonMobil sold its 60 per cent majority stake in former Mobil Oil Nigeria Plc to NIPCO Plc, following which the company’s name was changed to 11 Plc.
NSCDC Commissions New Commands In Kebbi, Sokoto
Nigeria Security and Civil Defence Corps (NSCDC) has set up new command posts in Kebbi and Sokoto States to boost staff performance, security and better protect critical national infrastructure in the states.
Minister of Interior, Rauf Aregbesola, who commissioned the two commands, said Federal Government would not relent in ensuring the protection of citizens at all times by providing the necessary supports, and logistics needed to maintain the current tempo of development to ensure effective discharge of the Corps core mandates
Represented by the Permanent Secretary of the ministry, Dr Shuaib Belgore, Aregbesola stated that the Federal Government was dedicated to continuously support the Corps to enhance performance and boost national security.
According to a statement signed by the agency’s Public Relations Officer (PRO), Olusola Odumosu, the minister also tasked personnel in the two states to live up to the mandate of the agency and exhibit the highest level of discipline in their conduct.
He further charged the personnel to “abstain from rancor and unnecessary rivalry and ensure effective synergy with military and all other law enforcement agencies”.
Aregbesola commended the leadership of the Corps for the tremendous transformation witnessed within the last two years as he further attributed it to the doggedness, determination, pragmatic approach and readiness of personnel to impact positively on the nation’s security.
Present at the event were governors of the two states; Atiku Bagudu of and Aminu Tambuwal who were both represented.
NAWOJ Partners FH1360 To Boost Maternal, Infant Nutrition
The Nigerian Association of Women Journalists (NAWOJ), Lagos State Chapter, in collaboration with FH1360/Alive and Thrive Project hosted an interactive media round table aimed at promoting maternal, infant and young child nutrition, with an intervention of reducing the total number of anemia and all deficiencies related to mother and child.
Chairperson, NAWOJ, Lagos State, Adeola Ekine, said the initiative was focused on improved reporting of maternal nutrition coverage in journalism.
She added that the annual event provides insight on illnesses affecting children and mothers and their possible solutions
The Lagos State team Lead, Alive and Thrive, Olawunmi Ajayi, who spoke extensively on Maternal, Infant and young child nutrition (MIYCN), noted that Nigeria loses about 2313 children daily translating to 844,321, children death annually, half of which are due to malnutrition.
“You don’t have to spend a lot on trying to impress people about your feeding habit you just have to make sure you are providing and feeding a well-balanced diet.
Association Seeks Humanitarian Affairs Minister Portfolio
The Nigeria Association of Social Workers (NASoW) has advised President Bola Tinubu to appoint a qualified social worker as Minister of Humanitarian Affairs, Disaster Management and Social Development.
This is contained in a congratulatory message signed by its Publicity Secretary, Musliudeen Adebayo, and made available to newsmen in Ibadan yesterday.
The Tide source reports that NASoW, the umbrella body of social workers in the country was founded in 1975.
The President of NASow, Alhaji Mashood Mustapha, congratulated Tinubu on his swearing-in ceremony as the 16th President of Nigeria.
Mustapha said that the appointment of a social worker who had the requisite knowledge and skills to paddle the affairs of the ministry would promote the humanitarian agenda.
He said that appointing a NASoW member as Minister of Humanitarian Affairs, Disaster Management and Social Development was in the interest of the nation.
Mustapha said that the ministry had core mandate to promote social work and quality social services delivery in the country.
He said that the association was ready and fully prepared to work with the new administration to achieve its aim in all areas of human development.
He said that the call for the appointment was as a result of the ministry’s strategic importance to the welfare of citizens, which is the main goal of this administration.
The NASoW president said that one of the association’s achievements during the administration of former President Muhammadu Buhari was the signing of the Nigerian Council for Social Work (NCSW) Establishment Act 2022.
Mustapha encouraged Tinubu to set another record by appointing a qualified social worker as minister for humanitarian affairs, disaster management and social development.
He said that the association was anxiously waiting for the time when NCSW would be constituted.
“We are using this medium to congratulate our new President Bola Tinubu on his emergence as the President of Federal Republic of Nigeria.
“We appeal to him to appoint a social worker as the minster for humanitarian affairs, disaster management and social development. This is our ministry; it is the main ministry for social workers
“We advise the president to put a round peg in a round hole for the betterment of the country,” he said.
Mustapha enjoined the president to appoint a minister, who had the required knowledge of social work as they expected the minister to constitute the NCWS board as soon as possible.
“The Nigerian Council for Social Work (Establishment) Act 2022 has been gazetted. Our law has become an Act of Parliament.
“This implies that a lot of good things are coming for the good people of Nigeria. The council is yet to be constituted.
“When this is done, it will help to give more recognition to social work practice in Nigeria,” he said.
He said that the establishment of NCSW would create job opportunities and enabling environment for social workers to provide the much desired quality social services to the people.
Mustapha said that it would also reduce migration of social workers to other countries in quest for prosperity.
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