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American Investors To Revamp Nigercem

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A team of American investors last Monday toured the Nigerian Cement (NIGERCEM) Company, Nkalagu in Ebonyi State to assess the condition of the moribund firm in a bid to revamp it.
The Tide source reports that governor of Enugu State, David Umahi and Chief Executive Officer (CEO), Chief Cletus Ibeto, Ibeto Cement Company who is also the firm’s core investor, conducted the team round the company.
Umahi welcomed the investors to the state, saying that the government and its people were elated by the efforts of the Ibeto cement company to revamp NIGERCEM.
According to him, “Ibeto Cement Company is establishing a new 6,000-tonne per day dry process cement plant and 45 megawatts capacity power plant as the project’s first phase.
“The brand, Ibeto is renowned in Nigeria and beyond, epitomising quality which has been tested and trusted.
“We have no doubt that his plans to build a new cement plant in Nkalagu will also be successful.”
Umahi assured the delegation that Ibeto would deliver on his promise.
Our source recalls that the government had on July 20, 2018, received the visiting contractors of the new cement plant — SINOMAS Company of China and assured them of its unalloyed support to the project.”
The governor urged the investors to use their global reach through the investing world stockholders, particularly in the U.S., to invite others to invest in Ebonyi, saying,” Ebonyi is rich in ore, salt, lead, coal and other minerals and agricultural endowment and we have provided the enabling environment to nurture such investments.”
He assured the investors and Ibeto cement company that the ‘Investors Protection Act’ was promulgated to protects investors and their investments.
“This law ensures an Irrevocable Standing Payment Order (ISPO) with special agreement which insulates the investor from government interference and any change of government.
“In practical terms, it means that such investor with any interference by government, will recover his investments from all funds accruing to the state government,” Umahi stressed.
In his remarks, Chief Cletus Ibeto, thanked the government and people of Ebonyi for receiving the investors, noting that all stakeholders would cooperate in revamping NIGERCEM.
“I had visited the state with the Chinese contractors that would execute the project and these visiting investors could be called the project’s realisation team.
“They came to assess the situation on ground and to see that what I am telling them about the project is true,” he said.
The Leader of the Investing Team, Mrs Amanda Wester, noted that the delegation was satisfied with what it saw and urged all stakeholders to ensure the success of the project.
“We are happy with the infrastructural strides of the state government and it would assist in providing the enabling environment for us to succeed,” she said.

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

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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

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Illegal PMS Trading Booms In Lagos

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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

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Customs Board Appoints Five DCGs, Eight ACGs

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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

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