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Nigeria’s Refineries Lose 218 Workers, Post N69bn Loss

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Nigeria’s three refineries lost a total of 218 of their workers to layoff within a year, while the facilities posted a cumulative comprehensive loss of N69.03bn during the review period, according to data from their financial statements released by the Nigerian National Petroleum Company (NNPC) Limited.
The three refineries are: the Kaduna Refining and Petrochemical Company (KRPC), Warri Refining and Petrochemical Company (WRPC), and Port Harcourt Refining Company (PHRC).
The financial statements of the three refineries indicated that while KRPC reduced its workforce by 105 workers, WRPC cut down its staff by 113. PHRC, on the other hand, did not lay off any staff in the stated period.
In the same vein, the comprehensive loss at KRPC during the period under review was put at N22.89bn, WRPC was N19.63bn, while PHRC posted a loss of N26.51bn.
In the annual report/financial statement of Kaduna Refining and Petrochemical Company for the year ended December 31, 2021, the firm stated that one major area of challenge had been the low operational funding for the company.
On personnel, it stated that the staff strength of Kaduna Refinery reduced from 630 in the first quarter of 2021 to 525 in the fourth quarter, representing a reduction by 105 workers.
The report showed that KRPC’s staff strength at the end of Q1, Q2, Q3 and Q4 2021 were 630, 580, 551 and 525 respectively.
On the operational performance, the firm stated that in the year 2021, no crude oil was received or processed in KRPC due to preparations for the upcoming rehabilitation of the refinery.
For KRPC’s financial performance, the report stated that “the company posted an operational loss before tax of N36.66bn, which represents an increase of 29.83 per cent from N28.23bn in 2020.
“This was largely due to a surge in depreciation charges as more fixed assets were transferred from CHQ (Corporation’s Headquarters) during the period under review.
“However, adjusting for other comprehensive income, the company posted a total comprehensive loss of N22.89bn as against N55.77bn in 2020, representing a decrease of 58.96 per cent in its loss performance”.
The report added, “It is important to state that the decrease in loss after tax is due to the reduction in general and administrative expenses.”
It stated that the asset base of Kaduna refinery increased by 952 per cent, from N20.5bn in 2020 to N195.3bn as at December 31, 2021.
For the Warri Refining and Petrochemical Company Limited, its financial statement for the year ended December 31, 2021, showed that its total comprehensive loss for last year was N19.63bn, down from the N44.13bn recorded in 2020.
The financial statement also showed that the workforce at WRPC was reduced from 444 in 2020 to 331 in 2021, indicating a reduction by 113 workers.
The financial statement for the Port Harcourt Refining Company Limited for the year ended December 31, 2021, stated that the loss by PHRC, which was transferred to what it described as reserves in 2021, was N26.51bn.

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Maritime

Shippers’ Council Registers 160 Port Operators

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The Nigerian Shippers Council (NSC) says it has registered 160 Port stakeholders into its Regulated Port Service Provider and Users platform since the initiative began in 2023.
Executive Secretary, NSC, Mr Pius Akutah, made the disclosure on the sideline of a sensitisation programme by the commission for port operators in Lagos, with the theme, “Regulated Port Service Provider and Users”.
Represented by the Director, Consumer Affairs, Chief Cajetan Agu, Akutah emphasised the significance of the programme for stakeholders.
He said the sensitisation programme was the second edition after its commencement during the last quarter of 2023.
The Secretary said the 160 registered port operators consist of agencies, terminal operators, shipping companies, individual port users as well as service providers.
“We invited the ports stakeholders for enlightening them on the processes for online registration of Regulated Port Service Provider and Users.
“We have demonstrated to them how to register and how to make payment and we were able to present before them the various categories of the registration.
“The rate of payment is also in the registration. The payment of each group depends on the operation. A shipper pays N30,000, terminal operators and shipping companies pay N300,000, truckers also pay N30,000, while some pay N50,000 and N100,000.
“The Council was able to intimate them on the benefits, because port users benefit more as we help to interface on reducing port charges from time to time”,  Akutah said.
He said  that there was a need to continue to work with port operators to stop delays and eliminate high costs to make the port efficient.
Also speaking, the Deputy Director, Stakeholders, Service, NSC, Mr Celestine Akujobi, said “the sensitisation exercise was important for the council to enable us bring all the port stakeholders together”.
According to him, this is to avoid challenges during the implementation of the council’s responsibilities.
“By the time we introduce sanctions on defaulters, no operators will complain that he or she is not aware of the registration.
“I’m happy with the turnout of this sensitisation. This shows that the operators are well informed of the statutory friction of the council as the port regulator.
“The final implementation will commence as soon as we discover that all the operators have keyed into the portal.
“We are engaging other ports across the country and we’re hopeful that before the last quater of 2024, the council will implement sanctions on defaulting operators”, Akujobi said.
Earlier, Vice Chairman, National Association of Government Approved Freight Forwards (NAGAFF), Dr Ifeanyi Emoh, said  port challenges were enormous, adding that they originated from some of the government agencies.

Emoh urged the council to look into regulating other government agencies, so that there could be a window through which they can collect port charges collectively instead of indiscriminately.

By: Chinedu Wosu

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Business

Chivita, Hollandia Reward Outstanding Trade Partners At Annual Conference

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Chivita| Hollandia (CHI Limited) leading fruit juice and value-added dairy manufacturer in Nigeria has rewarded its long standing distributors at the recently held 2024 Distributor Conference. The event with the theme, “Break Boundaries Exceed Expectations” served as a platform to recognise and reward the exceptional contribution of the distributors and wholesalers who play a critical role in Chivita|Hollandia (CHI Limited) success and business goals for the year.
The Distributor Conference was held in two sessions. While the morning session featured keynote addresses, industry insights and brand immersion experience, the evening session was a cultural display of elegance and funfair that culminated in the award presentation and recognition of the contribution the trade partners made to the company in the 2023 year under review.
A key highlight of the event was the award ceremony which acknowledged outstanding trade partners in various regions across the country. The awards recognized commitment, dedication, and outstanding performance in areas of sales growth, brand promotion, and market expansion.
Eelco Weber, Managing Director, Chivita|Hollandia (CHI Limited), stated that the company’s success story is incomplete without the strong partnerships it has built with trade partners. “Today, we celebrate not only the achievements, but the collaborative spirit that has made our growth possible” he said.
Bola Arotiowa, Chief Commercial Officer, Chivita|Hollandia (CHI Limited), in his statement revealed that, the event which was first of its kind will continue to be an annual meeting to enable the company work more closely with its distributors, share insights and action points, help the trade partners familiarize themselves with the company’s goals and objectives for each year, and serve as a driver for mutual success.
“Our distributors are the backbone of Chivita|Hollandia (CHI Limited). Their relentless efforts in distributing our products, promoting our brands, and expanding our reach across the nation is truly commendable. As the bridge between us and our valued consumers, it is very important to reward their hard work and dedication for being an essential part of the Chivita|Hollandia (CHI Limited) family. Together, we will continue to deliver great products to our conusmers which in turn will deliver value to them”, Mr. Arotiowa added.
Speaking at the conference, HajiyaBilikisuSaida, Chief Executive Officer of Smabirm Nigeria Limited, who won the Outstanding Distributor of the Year in North 1 region, and got a reward of two million Naira worth of Chivita|Hollandia (CHI Limited) products expressed delight at the company’s recognition, and stated that the awards served as a way to inspire distributors to do more and put in more effort, which in turn would help both the distributors and the company to grow.
Other outstanding performance distributors of the year rewarded with a two million Naira worth of Chivita|Hollandia (CHI Limited) stock include, Sunny Chuks Limited for East 1 region, MRS FA & Sons Limited for East 2 region, Hussakas Ventures for North 2 region, Rookee 1388 Ventures for Lagos 1 region, Pik N Pil Ventures for Lagos 2 region, FaithJoe Event Management Limited for West 1 region, and Progress Family Nigeria Enterprise for West 2 region.
The annual Distributors Conference aims to strengthen the bond between Chivita|Hollandia (CHI Limited) and its trade partners. This collaborative approach fosters mutual growth and ensures the continued success of the brands in the Nigerian market.
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Business

AXA Mansard Backs Female-Owned MSMEs With N1.4m Grant

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A global leader in insurance and asset management, AXA Mansard, has supported three female-owned MSMEs with business grants totaling 1.4 million to boost their operations.
This, the company said, is part of its commitment to women and the Medium, Small, and Medium-scale Enterprise (MSME) sector in the country.
The three businesses were successful at the International Women’s Day Pitch Competition, organised in partnership with SME 100 Africa in Lagos.
According to the Head of Marketing, AXA Mansard, Olusesan Ogunyooye, the competition, which is aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria”.
The business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition.
Ogunyooye said “the programme provided a unique opportunity for women from various works and socio-economic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community”.
He stressed the importance of investing in women, saying it is not just the right thing to do, but also aligns with AXA’s purpose of acting for human progress.
He explained that AXA believes the future of women should not be at risk, hence investing in their economic empowerment is a crucial part

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