Nation
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.
Nation
MOSIEND Calls For RSG, NDDC, Stakeholders’ Intervention In Obolo Nation
The Movement for the Survival of the Izon Ethnic Nationality in the Niger Delta (MOSIEND) has decried the neglect of communities in Obolo Nation and others in the Niger Delta Region
MOSIEND also called on the stakeholders to empower the youths in skill acquisition and other meaningful ventures to better their lives
This call was on Rhythm 93.7 FM Port Harcourt, Radio program, Talk of the Town, by MOSIEND Eastern Zonal Coordinator of MOSIEND Half Hour Comrade Tammy Bruce Longjohn, alongside Asarama Clan Chairman, Comrade Amos Zebedee Udu, and Unyeada Clan Chairman Comrade Owen Wilson Ngere monitored by our correspondent
The spokepersons underscores the urgent need for government agencies and development partners to respond decisively to the dire state of basic amenities in the area.
MOSIEND leaders in Obolo Nation lamented the absence of potable water, electricity, access roads, and other functional public infrastructures in the clans
“What is troubling is that these complaints continue to echo without corresponding action from the Rivers State Government, the Niger Delta Development Commission, and the oil companies operating in and around the area”.
According to the MOSIEND leaders, the situation has reached a point where community members, particularly youths and women, require deliberate intervention to rebuild livelihoods and restore hope.
They also emphasised the need for empowerment programmes, vocational training, and investments in local economies that depend heavily on fishing and trade.
The Clan leaders call for provision of small engine boats for fishermen and the construction of proper market spaces for the communities
Asarama Clan Chairman, Comrade Udu noted that the community participates fully in electoral processes yet continues to live without clean water or electricity.
He insisted that the clan is not benefiting as they ought to from any MoU with oil companies nor from NDDC projects, raises concerns about the fairness and inclusiveness of development planning in the state.
Equally troubling is the account from Unyeada Clan Chairman, Comrade Owen Wilson Ngere, who highlighted the alarming state of Unyeada Primary School, where children are forced to learn on bare floors without desks, chairs, or basic sanitation facilities.
” For a region that hosts oil and gas activities, such conditions are unacceptable and should concern all stakeholders”.
The Unyeada Clan Commended NDDC for the installation of solar lights in the communities, noting that the project is not enough for the entire community as they
appeal for more of the solar project in the area
While the leaders expressed appreciation to Governor Siminalayi Fubara for the ongoing construction of roads in the area, and to the local council Chairman for the provision of potable water in some communities, .
“Obolo Nation has shown remarkable restraint and continues to maintain peace, as noted by the MOSIEND Coordinator”.
“The issues highlighted are not demands for luxury,but are basic necessities that every community in the Niger Delta deserves.
“The time for promises has passed; what Obolo communities need now is visible, sustained, and inclusive development.
Chinedu Wosu
Nation
Film Festival: Don, Others Urge Govt To Partner RIFF
Prominent academics and industry players have called on government at all levels to partner with the Rivers State International Film Festival (RIFF) to unlock the hidden potentials of the film industry and market the State to the international community.
The appeal was made at the opening ceremony of the 3rd edition of the festival, held recently at Ezewali Event Centre in Port Harcourt.
The festival, which featured film screenings, workshops, and discussions, aimed to promote Nigerian culture and provide a platform for filmmakers to showcase their work.
A lecturer at the University of Port Harcourt, Prof Femi Shaka; Mr Tobechukwu Daniel: and the Chief Executive Officer of Down Town Cinema, Mrs Nneka Clareth commended the Chief Executive Officer of RIFF, Kate Ezeigbo for her efforts in promoting the culture of the Niger Delta and Nigeria through film.
According to Prof Shaka, “They are telling our stories the way nobody else will tell it. It gives them the opportunity to show the world what we have.”
He urged the Rivers State Government, under the leadership of Sir Siminalayi Fubara, and other Governors from the Niger Delta States to support RIFF, describing it as a marketplace where upcoming stars can showcase their talents.
Mr Tobechukwu Daniel, one of the founding fathers of RIFF, expressed satisfaction with the four-day programme, which was jam-packed with activities that had a direct impact on the participants and the industry.
He emphasised the need for government partnership, stating that funding from governments, multinationals, and captains of industries is crucial for the growth of the film industry.
“The international participation in RIFF programmes will boost our economy, as they will watch our cinema, buy our films, and give our youths opportunities to showcase their talent,” Daniel said, advising actors and actresses to focus on professionalism rather than godfatherism.
Mrs Nneka Clareth, who has been in the business for 12 years, noted that lack of funding is a setback to the nation.
“I want the government to support Nollywood in totality, because Nollywood covers visibility, sustainability, culture, tourism, storytelling, and a whole lot,” she said.
The festival, which featured free medical treatment, film production, scriptwriting, and discussions on various topics by professionals, drew participants from different parts of the world.
The organisers commended Kate Ezeigbo and her team for putting together a wonderful event, urging participants to make proper use of the opportunity.
Nation
Hausa Community Lauds Council Boss Over Free Medical Outreach
The Chairman of Hausa Butchers Association in Ahoada East Local Government Area of Rivers State, Alhaji Hamisu Jika, has commended the Chairman of the local government council, Hon Solomon Abuba Ochoma for organising a successful free medical outreach programme that benefited thousands of people in the area.
The outreach, which was organised by the local government council provided free medical services to thousands of people, including the elderly, women, and children, healing many with different ailments.
Alhaji Jika described Hon Abuba as a visionary leader, who has the welfare of his people at heart, noting that he is a de-tribalised Nigerian citizen who is determined to run an all-inclusive government.
He pledged the total support of the Hausa community to the administration of the council chairman in all its programmes and policies.
According to Alhaji Jika, the Hausa community in Ahoada East is law-abiding and will continue to maintain the existing peace in the area.
“Honestly, I want to tell you that we are peace-loving people and we are solidly behind the administration of the Executive Chairman of Ahoada East in all his programmes and policies in the local government,” he said.
The chairman revealed that the Hausas and their hosts, the Ahoada people, have been enjoying a cordial relationship since they started settling in the area, stressing that the council chairman has been a good leader who does not condone evil.
He expressed optimism that Hon Abuba will improve the comfort and wellbeing of the people and transform the council area, noting that the chairman has his people at heart.
He, therefore, called on both indigenes and non-indigenes of the local government to rally round the chairman, as he needs their support to take the local government to another level.
He appealed to the chairman to look into the welfare of Hausa people and help them with soft loans to boost their businesses, noting that some of the Hausas were born and brought up in Ahoada and have married there, and there is understanding and cordiality amongst them in the area.
Alhaji Jika also called on the youths to be law-abiding and stay away from trouble, stressing that where there is no peace, there will not be any meaningful development.
It was gathered that the Chairman of Ahoada East Local Government Council, Hon Solomon Abuba Ochoma has indeed started well and is working hard to fulfill his electioneering promises, making him a charismatic leader and the man of the people.
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