Business

Poor Electricity Inhibits Steel Industry Growth – Stakeholders

Published

9 years ago

December 5, 2014

L-R: Citizenship and Partners in Learning Manager, Microsoft, Ugochukwu Nwosu, Project Delivery Head, ICT-STP Education Services Ltd, Pradeep Joshi, STP Education Services Ltd, Gautham More, Special Adviser to the Rivers State Governor on ICT; Enger Goodliffe Nmekini, Special Assit. to the Rivers State Governor on Environmental Health Dr. Ogu Emejuru during offical launching of Badiliko Digital HUBS, in Port Harcourt, recently. Photo: Egberi .A.Sampson

Stakeholders have identified poor electricity supply as one of the factors inhibiting the growth of the nation’s steel industry.
Some of the stakeholders told newsmen on Wednesday that frequent power outages were preventing the steel companies from rolling out products to satisfy market demands.
Alhaji Isma’ila Bello, Managing Director, Crittal-Hope Ltd., Lagos, said the company was fabricating steel, aluminum windows and doors, but that poor power supply was the major problem adversely affecting production.
“In the past, the company had up to 2,000 workers who operated on shift basis, but today the employees are less than 200 and they work on single shift. And this is due to poor electricity supply.
“We consume about two drums of diesels daily, which translate to 480 litres per day. If you multiply that by N160 per litre, it means that we spend about N76, 800 per day.
“What is our profit margin if we spend such money on power alone. It is adversely affecting our business,” Bello said.
The National President, Iron and Steel Senior Staff Association of Nigeria (ISSSAN), Mr Otori Maliki, said many privately-owned steel firms in Lagos, including Crittal Hope Nig. Ltd.; NIWIL Nig. Ltd. and Eureka Nig. Ltd., were experiencing power challenges.
Maliki said the companies were producing at 30 per cent installed capacity due to poor power supply, and also lack of raw materials from Aladja and Ajaokuta Steel Rolling mills in Warri, Delta, and Kogi, respectively.
“There should be dedicated power supply lines for these companies to enable them function well.
“Also, the steel companies ought not to import raw materials if our rolling mills were functioning and prices of steel products would have been cheaper,” the union leader said.
Jos Steel Rolling Mill which became Zuma Steel West Africa after it was sold to private owners in 2003, is now dormant due to inadequate power supply.
The Group Executive Chairman of the company, Mr Innocent Zuma, told reporters that he was optimistic that the outfit would come back to life once there was adequate power supply.
“We are trying to get access to steady power supply; once we can get that the mill will come back on-stream,” Zuma said.
To address the problem, Zuma said the company was working toward establishing two power plants which, when completed, would serve not only the Jos Steel Plant but also other subsidiaries.
He said that the mill, when fully operational, would boost economic activities in Plateau, generate revenue, provide employment and empower the youths.
A Kano-based construction engineer, Abubakar Bello, also identified poor electricity as one of the problems bedeviling the steel industry.
“The steel industry requires electricity but the cost of electricity in this country is so high compared to what obtains in other countries.
“So, I appeal to the Federal Government to guarantee stable power supply to enable the industry produce enough steel materials for national development,” Bello said.

Business

Western Marine Command Intensifies Anti-Smuggling Operations … Intercepts N8.75m Worth PMS

Published

3 days ago

May 17, 2024

The Tide

For officers and men of the Western Marine Command of the Nigeria Customs Service (NCS), the battle is not over until smuggling is over.
In the wake of Wednesday May, 8, 2024, the ever vigilant officers, acting on a tip-off, intercepted 177 sacks and 61 kegs of 25 litres containing petroleum products, valued at about N8.750,000million.
The items were intercepted along Isalu Creek, Badagry Waterway en-route Benin Republic.
While briefing newsmen, the Command’s Customs Area Controller, Comptroller Paul Bamisaiye, said: “This seizure is most economically significant to the Command at this period of scarcity of Petroleum Products, especially Premium Motor Spirit (PMS) in our cities, and shows the anticipatory posture in our response to economic saboteurs.
“At about 2:330hrs on Wednesday 8th May 2024, while on joint patrol by teams in the Command, credible intelligence was received of the movement of 2 boats laden with what was suspected to be petroleum products concealed in sacks. Upon receipt of the information, the team moved into Isalu creeks, Badagry waterway.
“On sighting the approach of the Officers, the smugglers took to their heels through the shore of the Creek. The loaded boats were then towed to the station at Badagry where preliminary examination was conducted and transferred to Western Marine Command Headquarters, Ibafon, Apapa, Lagos.
“Careful examination at the Command Headquarters revealed that the arrest was found to contain One Hundred and Seventy Seven (177) Sacks and Sixty One (61) Kegs of 25 Litres Premium Motor Spirit (PMS) containing Twelve Thousand Five Hundred (12,500) Liters with a total Duty Paid Value standing at Eight Million Seven Hundred and Fifty Thousand Naira (N8,750,000) only”.
Bamisaiye noted that the action of the smugglers is a contravention of Section 245 & 254 of the Nigeria Customs Service Act 2023 which the service, through Western Marine Command, is responsible for enforcing.
“The Command, under the leadership of Compt. PK Bamisaiye, is poised more than ever to rid the waterways of all acts of smuggling and economy sabotage for the benefit of the growth of economy of Nigeria”, he said
Bamisaiye said so far, no suspect was arrested in the Command’s anti-smuggling operations.

Nkpemenyie Mcdominic, Lagos

Business

Illegal PMS Trading Booms In Lagos

Published

3 days ago

May 17, 2024

The Tide

Petroleum products being sought by motorists have disappeared from virtually all filling stations within Lagos and its environs, but are now booming in business in retail outlets.
Investigations by our correspondent revealed that while the product could not be got at some of the petrol service stations, activities are in top gear in the local retail outlets where the price has gone beyond the reach of users.
It was also gathered that in some filling stations supplied with the products, preference are often given to retail outlet operators by petrol attendants against the consuming public.
A source, directly involved in the business, said some petrol dealers are cashing on the irregular supply to divert the products to retail outlets where they could easily make their gains.
It was also gathered that some sales representatives in the service of major oil marketing firms indulged in the diversion exercise because of their personal interest.
At the retail outlets a liter goes for N950,00 against the normal N760,to N800 at some stations.

Nkpemenyie Mcdominic, Lagos

Business

Customs Board Appoints Five DCGs, Eight ACGs

Published

3 days ago

May 17, 2024

The Tide

The Nigeria Customs Service Board (NCSB) has confirmed the appointment of five Deputy Comptroller-Generals (DCGs) and eight Assistant Comptrollers-General (ACGs) of Customs during its 59th regular meeting.
The meeting, chaired by the Honorable Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, was held at the Nigeria Customs Service Headquarters in Abuja last Tuesday.
National Public Relations Officer of the Service, Chief Superintendent of Customs, Abdullahi Maiwada, who disclosed this in a statement yesterday, gave details of the confirmed appointments as: O.O. Peters (DCG /Commander, Training and Doctrine Command (rtd); B.M. Jibo (DCG Enforcement Inspection & Investigation); and B.U. Nwanfor (DCG Excise, Free Trade Zone & Industrial Incentives).
Others are: S.A. Bomia (DCG, Commander Training and Doctrine Command); and C.K. Niagwan (DCG, Tariff & Trade).
The Assistant Comptrollers General (ACGs) are: B. Imam (ACG Board); A.A.S. Oloyede (ACG, Trade & Tariff); S.K. Dangaldima (ACG/Zonal Coordinator, Zone ‘B’); A. Abdul Azeez (ACG/Zonal Coordinator, Zone ‘D’); S.A. Yusuf (ACG, Human Resource Development); N.P. Umoh (ACG, Training and Doctrine Command); C.O. Obih (ACG/Zonal Coordinator, Zone ‘C’); and S. Chiroma (ACG, Strategic Research and Policy).
The new appointments, according to the statement, were made to fill the vacancies created by some senior officers who recently retired from the Service, noting that the principles of federal character, seniority and merit guided the appointments approved by the board.
“These appointments are a testament to the officers’ exemplary services and dedication to the Nigeria Customs Service. The NCSB remains committed to providing strategic leadership to ensure effective and efficient service delivery for optimum performance”, he said.
While thanking the retired members of the management for their meritorious services, the Comptroller General of Customs, Bashir Adewale Adeniyi, congratulated the newly confirmed officers and charged them to redouble their efforts to ensure the service attains greater heights in its mandates of revenue generation, suppression of smuggling, and trade facilitation amongst others.

Nkpemenyie Mcdominic, Lagos