News
Construction: Wike moves to help reduce cost in FCT
By Kayode Sanni-Arewa
The Federal Capital Territory(FCT), Minister of the Federal Capital Territory Administration (FCTA), Barr Nyesom Wike has moved to ensure that the cost of construction is reduced in the Territory.
He took this position during an inspection tour to Zeberced Limited Quarry Saturday in Abuja which is the largest in the whole of West Africa.
Wike, who was amazed at the scale of operations, described it as a game-changer for the construction industry in the region.
He said: “It’s a factory right here in the FCT, and the Managing Director has always invited me to see the facility, which is the biggest quarry in West Africa. I had never been here before, but today, I’ve taken the opportunity to assess the environment and see firsthand the incredible work being done,” Wike remarked during his tour of the factory.
The minister’s visit comes amidst rising construction costs in the capital city.
Wike stressed that the abundant availability of raw materials within the FCT should, in fact, lower construction expenses, particularly when it comes to aggregates used in building roads and infrastructure
He stated, “That shows that ordinarily, the cost of construction ought not to be very expensive, particularly in the FCT. Apart from the equipment that is imported, the raw material is available here. I wonder why contractors should be talking about the high cost of aggregates as if these materials are imported they’re made right here.”
With over 800 workers directly employed at the quarry, Wike commended the company’s contribution to job creation and local economic growth.
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He further revealed that the same company is spearheading the development of an industrial park at Idu, a project the FCT Administration is fully supporting.
“I sent out a letter to the Ministry of Finance just yesterday to facilitate some tax credits, which will enable them to carry out the expansion of a single-carriage road to a double-carriage way, a project currently being handled by Salini Construction Company. We’re giving them all the necessary support to make this a reality,” Wike added.
The minister, visibly impressed by the quarry’s operations, expressed some concerns about the environmental impact but was reassured that all assessments were up to standard. “My only concern was the environmental impact assessments, but I’ve been assured that everything is in compliance. I’m very impressed with what I’ve seen here.”
Wike’s visit underscores the FCT Administration’s focus on driving industrial growth while encouraging local manufacturing to support infrastructure development.
With local resources available, he emphasized the need for contractors to re-evaluate pricing structures, particularly in the FCT, to reflect the advantages of sourcing materials locally.
Wike’s endorsement of the quarry and the upcoming industrial park at Idu marks a step towards a more sustainable and cost-efficient approach to construction in the capital, aligning with President Bola Tinubu’s administration’s vision for economic growth and infrastructural development.
By Kayode Sanni-Arewa
President Bola Tinubu will on Sunday host the Indian Prime Minister, Narendra Modi, for a State Visit at the Presidential Villa in Abuja.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement on Saturday.
His visit to Nigeria will be the first by an Indian prime minister since Dr Manmohan Singh’s state visit in 2007 when the two nations established a strategic partnership.
The presidential spokesman said both leaders would have further talks on strengthening Nigeria and India’s ties.
“Both leaders will exchange signed Memoranda of Understanding to enhance collaboration in critical sectors,” Onanuga said.
See the full statement below:
President Tinubu To Host Indian PM In Abuja
President Bola Tinubu will welcome Indian Prime Minister Narendra Modi for a State Visit at the Presidential Villa in Abuja on Sunday.
Prime Minister Modi is scheduled to arrive on Saturday.
His visit to Nigeria will be the first by an Indian prime minister since Dr Manmohan Singh’s state visit in 2007, when the two nations established a strategic partnership.
President Tinubu and Prime Minister Modi will seek to strengthen Nigeria’s and India’s ties further during their bilateral discussions.
Both leaders will exchange signed Memoranda of Understanding (MOUs) to enhance collaboration in critical sectors.
Bayo Onanuga
Special Adviser to the President,
Information & Strategy
November 16, 2024
News
At last, Marketers Agree to Crash Petrol Prices as Dangote Sells Fuel at Reduced Cost after Deal
By Kayode Sanni-Arewa
The Independent Petroleum Marketers Association of Nigeria (IPMAN) said about 30,000 of its members will start lifting petrol from the Dangote Refinery The association’s president, Abubakar Maigandi, said that the refinery agreed to sell the product at N940 and N960, respectively He said the development means that petrol prices will crash at the pumps in the coming weeks following the new deal
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says over 30,000 of its members are ready to buy petrol in bulk from the Dangote Refinery. The association revealed that the petrol price from the mega refinery was about N940 per litre via ships and N990 via trucks.
IPMAN president Abubakar Maigandi disclosed in a television interview on Tuesday, November 12, 2024, that the petrol pump prices at its outlets will drop following the deal with the refinery. The association reached a deal with the $20 billion refinery on Monday, November 11, 2024, to purchase petrol, diesel, and other petroleum products directly. The agreement comes after months of negotiations following the exit of the Nigerian National Petroleum Company Limited (NNPC) as the sole off-taker of the refinery.
Petrol prices to crash by over N50 Maigandi explained that the Lekki-based facility had been obliged to let marketers buy petrol, diesel, and Kerosene to supply to their depots and retail outlets. The IPMAN boss updated Nigerians on the pricing, saying the refinery gave marketers two rates based on preferences. He said marketers can load at the gantry at N990 per litre or vial vessel transport at N940. Punch reports that the new price is lower than the N960 and N990 per litre on ships and trucks offered by the refinery last week.
The IPMAN helmsman disclosed that the partnership aims to ensure a consistent and affordable supply of petrol and other products nationwide. He stated further that petrol prices may crash by N50 or more, depending on the location.
PETROAN set up a meeting with Dangote Refinery According to Maigandi, the direct purchase of petrol from the refinery will end payments to intermediaries such as the NNPC and depot owners, saying that the cost will reflect on petrol prices in the coming weeks. The IPMAN president said the new arrangement will also end fuel scarcity as products will be available nationwide in all seasons.
Additionally, the management of the Dangote Refinery is set to meet with Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) officials to discuss petrol lifting. The group’s publicity secretary, Joseph Obele, said the refinery, through its president, Billy Harry, mailed seeking a business meeting.
Obele said Harry has inaugurated a team of seven persons to represent the association at the meeting. NNPC to now sell only Dangote petrol Legit.ng earlier reported that NNPC had announced that it stopped importing refined petroleum products. Mele Kyari, NNPC’s Group Chief Executive Officer, disclosed this while speaking at the Lagos’s Nigerian Association of Petroleum Explorationists’ (NAPE) conference and said that the company now sources its fuel needs from the Dangote Petroleum Refinery.
Kyari confirmed that NNPC has shifted away from importation and will source from local refiners, especially Dangote, according to BusinessDay reports.
Source: Legit
By Kayode Sanni-Arewa
Operatives of the Edo State Police Command have successfully rescued a 14-month-old baby, Grace Osamagbe, who was abducted by her nanny, Rejoice Chukwu, in April.
Commissioner of Police Umoru Ozigi told newsmen on Saturday in Benin, that the Anti-Kidnapping and Cyber Crime Unit arrested Chukwu, 24, and her boyfriend, Destiny Uchechukwu, 28, in Uyo, Akwa-Ibom
According to Ozigi, the suspects abducted the child in Benin and collected a ransom of N160,000.
I lost my hands, girlfriend, dad’s landed properties survived depression; but I’m alive’0:00 / 0:00
“In spite of receiving the ransom, the suspects allegedly sold the baby for N500,000 to Doris Chiwendu in Owerri, Imo State.
“Following intense interrogation, police tracked down Chiwendu and another suspect, Jane Amaigbo, in Ubomiri, Imo State, and rescued the baby on November 9.”
The police commissioner explained that the suspects would soon be charged in court.
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