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Tinubu secures $600 million investment for Nigerian seaport infrastructure

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President Bola Tinubu has secured an investment of $600 million from Danish shipping and logistics company, A.P Moller-Maersk, to expand existing port infrastructure to accommodate more container shipping services in Nigerian ports.

Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the decision during a meeting with President Tinubu on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on Sunday.

President Tinubu noted that this investment will complement the administration’s ongoing $1 billion investment in seaport reconstruction across the eastern and western seaports of Nigeria.

The President added that it would further support the country’s port modernization efforts and port process automation through his administration’s implementation of the national single window project, which is aimed at enhancing trade facilitation, easing import/export flow, reducing corruption at the ports, while improving the efficiency and transparency of port processes in Nigeria.

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“We appreciate your business and the contribution you have made and continue to make to our country’s economy over time. We do not take our partners for granted. A bet on Nigeria is a winning bet. It is also a bet that rewards beyond what is obtainable elsewhere.

“More investment opportunities are available, and my government has worked on various reforms to encourage investments. We need to encourage more opportunities for revenue expansion and minimize trans-shipments from larger ships to smaller ships,” he said.

The President assured Maersk of his administration’s commitment to collaborating and creating an enabling environment for businesses to thrive in the country.

He cited Maersk’s previous partnership in the development of the Ogun State container terminal as a testament to fruitful partnerships with the reputable logistics company.

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Highlighting Maersk’s longstanding engagement in Africa’s most populous nation and his belief in the future of Nigeria, Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla said his company had made significant investments of over $2 billion in Nigerian ports and other activities.

He emphasized the potential for Nigerian ports to accommodate larger container ships and stressed the need for expanding port infrastructure to meet this demand while reducing the cost of logistics.

”We have seen a significant opportunity for Nigeria to cater for larger container ships. Historically, most of the West African coasts are already served by smaller ships. Currently, we see an opportunity to deploy larger ships to Nigeria. To achieve this, we need to expand the port infrastructure, especially in Lagos, where we need a bigger hub for logistics services. The growth potential is hard to quantify.

”We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships.

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”In my humble view, given that Nigeria is the most populous country in Africa, Nigeria should have the best and biggest port and we are very eager to invest, and we will continue that dialogue with the relevant Nigerian authorities to explore further investment opportunities,” the Maersk Chairman said.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

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April 28, 2024

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PHOTOS: Again, Senator Manu on the move, installs solar energy in Emir of Gembu’s palace

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…..as monarch hails him for going the extra mile for constituents

By Kayode Sanni-Arewa

Barely one week after, Senator Manu Haruna has installed solar energy in another Emir’s palace.

This is coming after he installed alternative power in Emir of Gashaka’s palace.

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This time around, Senator Manu installed alternative power to Emir of Gembu’s palace.

The Emir of Gembu,His Royal Highness, Dr. Shehu Audu Baju
apparently happy with the development hailed t Senator Manu Haruna who represents Taraba Central in National Assemby for installing solar energy in his palace and environs.

The Emir who was full gratitude for the installation of alternative power to his palace and thanked Senator Manu for the laudable move and for bringing succour to his constituents.

The team of engineers installed the solar system at the Emir’s Palace on Saturday.

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Most filling stations yet to get Dangote petrol – IPMAN

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One week after the Nigerian National Petroleum Company Limited commenced loading Premium Motor Spirit, popularly called petrol, at the Dangote Petroleum Refinery, most filling stations across the country have yet to get the product.

Independent petroleum marketers who operate over 70 per cent of filling nationwide, told Sunday PUNCH on Saturday that petrol from Dangote refinery had yet to be dispensed to them by NNPC.

When contacted and asked if most dealers have started receiving the product from the $20bn Lekki-based plant, the National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, replied, “We are waiting to start.”

NNPC officially commenced the loading of petrol from the 650,000 barrels per day capacity Dangote Petroleum Refinery last Sunday.

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NNPC said at the time that it was to load 16.8 million litres of petrol from the plant, in contrast to the 25 million litres that the refinery had announced earlier as what it would release to the national oil company daily.

The spokesperson of NNPC, Olufemi Soneye, confirmed that over 70 trucks of PMS departed the Dangote refinery last Sunday, which was the first day for the release of petrol from the plant to the domestic market.

Since then, the company has been taking products from the plant, as it also directed major marketers to lift petrol based on agreements with them, but on Saturday it was confirmed that independent marketers were yet to get Dangote petrol.

NNPC, which is currently the sole off-taker of PMS from the Lagos-based refinery, did not immediately respond to enquiries on why IPMAN members have not been allowed to access the product from the Dangote refinery.

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The National Publicity Secretary of IPMAN, Chief Ukadike Chinede, also confirmed that members of the association were still awaiting NNPC as regards petrol supply from the Dangote refinery.

Asked if most filling stations particularly those operated by IPMAN members have started getting Dangote petrol, he replied, “No, we have not started getting Dangote fuel from NNPC. As of this time, we haven’t.

“The current situation is that NNPC is still serving us with their imported products. That’s what we are loading for now and they haven’t communicated to us about the issue of Dangote.

“I think what they (NNPC) did was to take Dangote fuel to their own (NNPC) retail outlets because there was no design for NNPC to give IPMAN products via trucks.”

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Ukadike said independent marketers were willing buyers and called for the release of products to IPMAN, as he noted that the national oil company had been supplying Dangote petrol to major oil marketers.

“What we do is self-picking. We use our trucks to pick products. So if we were factored into picking up petrol from Dangote, our trucks would have been at its terminals.

“But this time, it is only for NNPC mobilised trucks. We are still waiting for further directives and like I said in other interviews, we are willing buyers and what we are looking for is a willing seller.”

On why the cost of Dangote petrol is high, the IPMAN official said, “I heard that NNPC is selling at N776/litre to major marketers but they haven’t started selling to independent marketers.

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“When you add logistics costs and other necessary things, you would understand why it still sells at the current price. However, when there is an adequate supply of petrol, the price will reduce. Also, the price of diesel is still high. Once the price of diesel goes down, the price of trucking will go down.”

Senior officials of some major oil marketing firms told one of our correspondents that they had commenced the lifting of petrol from the Dangote refinery based on specific arrangements with NNPC.

They also confirmed that the cost which they bought the product from NNPC was N766/litre, but could not tell the price at which the product was sole to NNPC by Dangote.

“As I told you last week, the cost which NNPC sold to us is N766/litre. We paid NNPC, not Dangote and we lifted products based on the arrangement with NNPC. Dangote and NNPC know the price which they both agreed on, so they are in the best position to state that,” a major marketer who spoke in confidence due to lack of authorisation to speak on the matter, stated.

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Last week, NNPC’s spokesperson said the company bought petrol from Dangote at N898/litre, but this was countered by the refinery, without stating the price that it sold the product to NNPC.

“The report stating that we (NNPC) purchased it at N1,300/litre is false. For this initial loading, the price was N898/litre,” Soneye had stated.

But Dangote refinery denied the price with Anthony Chiejina, Dangote Group’s Chief Branding and Communications Officer, labelling the claim as “misleading and mischievous,” stating that it undermined the company’s recent milestone in addressing Nigeria’s long-standing energy crisis.

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#EdoDecides2024: Obaseki forced out of INEC office

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Governor Godwin Obaseki of Edo State has been forced out of the premises of the Independent National Electoral Commission in Benin by the DIG Frank Mba.

Obaseki was on the premises early on Sunday morning at some minutes past 2am and was there until he was escorted outside by the police.

PUNCH Online earlier reported that members of the All Progressives Congress, led by Monday Okpebholo’s running mate, Dennis Idahosa, led protesters to demand the exit of Obaseki from the premises of the Independent National Electoral Commission at about 3.30am on Sunday.

As he was being escorted out of the premises, mobile policemen deployed to the INEC office shouted at the governor, “Leave, leave.”

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Minutes before Obaseki was led outside by Mba flanked by a contingent of policemen, All Progressives Congress National Secretary, Surajudeen Basiru, addressed journalists that the governor had no reason to be on the premises.

Basiru said, “He is not a candidate. He has no reason to be here”, describing the governor’s action as abuse of office.

The governor was said to have gained entrance into the premises of INEC on Aduwawa Road, Benin City, under the cover of the night and headed straight upstairs, sitting close to the Edo REC’s office where the results were being collated before they would be announced.

The protesters at intervals tried to gain entrance into the premises of INEC, but they were prevented from entering even when they repeatedly banged on the gate.

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At some point during the drama, the DIG in charge of the election, Frank Mba, came into the premises with his team and headed straight to where Obaseki was sitting.

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