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Port Harcourt refinery’ll crash fuel price, create jobs—IPMAN, PETRAON

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Stakeholders in the oil and gas industry have said the commencement of production at the Port Harcourt Refining Company will engender competition, crash the pump price of petroleum products and create jobs for Nigerians.

Recall that the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari had on Tuesday inaugurated a 60,000 barrel per day capacity plant at the old Port Harcourt Refinery Deport.

During the event, Kyari said the other sections of the refinery will be completed in due course.

The stakeholders, including the Independent Petroleum Marketers Association of Nigeria, said this while speaking with newsmen at the sideline of resumption of production at the Port Harcourt Refinery and loading of trucks at the facility located in Eleme, Rivers State on Tuesday.

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The IPMAN Chairman in Rivers State, Tekena Ikpaki, said the coming on stream of the Port Harcourt Refinery while confirming the loading of products into trucks while describing it as a remarkable achievement.

Ikpaki stated, “This will remain memorable in our lives and in our hearts because it has been long expected.

“Now it is no longer expected, it is real, it can be seen and felt. Trucks have been coming in and loading out and we have been witnessing the process.”

Asked what the operation of the Port Harcourt Refinery and the Dangote Refinery together mean for the downstream sector, he said it will engender competition and reduce the cost of petroleum products.

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Tekena stated, “You know in God’s time He makes all things beautiful and this is just the best thing that will happen to Nigerians. I mean there is super competition now in the system which is in favour of the entire Nigerians.

“When Dangote and the NNPCL are at loggerheads and they are competing, who enjoys the dividends? Of course you and I. So I believe that since the refinery has come on stream, Dangote is there too, it will further push down the price of products.

“Over the weekend, Dangote had announced price reduction both on the marine and trucking, coming from perhaps the resumed operation of the Port Harcourt Refinery. So I think price reduction will be experienced and it will be in our favour and the favour of Nigerians.”

While expressing the optimism that more trucks are expected to come into the facility to load products in the coming days, saying the event of Tuesday was a test run.

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“Yes because it is still a test run. You know the place (Refinery) has been moribund for some time. For now, it is still hypothetical but in no distant time everything will be in its proper place and the inflow of trucks will be seen again the way it used to be, ” the Rivers State IPMAN Chairman said.

On its part, the Petroleum Product Retail Outlet Owners Association of Nigeria said the commencement of production after five years will create job opportunities, boost the nation’s economy and bring about competition in the downstream sector.

The National Public Relations Officer of PETROAN, Joseph Obelle said this also corroborated the opinion of IPMAN that it will lead to a reduction in the price of Premium Motor Spirit also known as Petrol.

Obellei further said the association will continue to work with the management of the NNPCL, retail management and other stakeholders to ensure that products lifted at the Port Harcourt Refinery depot are well distributed to all nooks and crannies of the nation.

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He commended President Bola Tinubu and the management of the NNPCL for their commitment to reviving the refinery.

He added, “PETRAON expresses optimism for the commencement of production at the Port Harcourt Refinery.

“We are so sure that it will offer job opportunities, boost the economy of the country and trigger competition in the downstream sector which we reflect significantly to price reduction.

“We want to commend the leadership of the NNPC led by the Group CEO, Mele Kyari for demonstrating leadership with his team towards seeing the Port Harcourt Refinery becoming a reality.”

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Obelle added, “Funding would have been an issue if not for the determination of Mr President. So we also commend President Bola Tinubu for releasing funds for the Port Harcourt Refinery rehabilitation”

He lauded the host communities for providing a peaceful atmosphere for the rehabilitation of the refinery and called on the company handling the reconstruction of the Eleme section of the East-West Road to ensure speedy completion of the road for smooth movement of trucks carrying petroleum products from the refinery to other parts of the country.

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Just in: Sack newly appointed Super Eagles coach now, NANS tell NFF

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Members of the National Association of Nigerian Students (NANS) on Thursday protested the appointment of Eric Sekou Chelle as the substantive coach of the Super Eagles.

NANS held a protest on Thursday at the Moshood Abiola International Stadium in Abeokuta to register their displeasure, calling on the Nigeria Football Federation (NFF) to reverse the appointment with immediate effect.

Led by the clerk of the Senate, Abdul Yekini Odunayo, NANS condemned the appointment and said it fell short of the expectations of Nigerians and football enthusiasts.

The students also threatened to embark on a nationwide protest to drive home their demand and called for the appointment of a better coach who tactical and can harness the abundant talents abound in the country.

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“We are gathered here today to address an issue that has not only baffled us but has also drawn widespread disapproval from Nigerian students and sports enthusiasts alike,” Odunayo said.

“On behalf of the National Association of Nigerian Students, I, Abdul-Yekinn Odunayo, Clerk of the Senate of NANS National Headquarters, wish to categorically express our displeasure over the appointment of Eric Sekou Chelle as the new head coach of the Super Eagles.

“This appointment, as announced by the Nigeria Football Federation (NFF), is not only unacceptable but also a slap in the face of our nation’s abundant pool of local coaching talent. Consequently, NANS, as the voice of the Nigerian students, is compelled to organise a national protest to demand a reversal of this decision.”

On Tuesday, NFF confirmed the appointment of Éric Sékou Chelle as Head Coach of Nigeria’s Super Eagles.

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His appointment is with immediate effect, and he has the responsibility of guiding the Super Eagles to earn a ticket to the 2026 FIFA World Cup finals, with the next round of matches (Matchdays 5 & 6) taking place in March.

Chelle, who won five caps for the Aiglons of Mali and coached clubs such as GS Consolat, FC Martigues, Boulogne and MC Oran, has been Head Coach of the Aiglons since 2022.

Chelle was appointed manager of Mali and was dismissed on 13 June 2024.

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Nigeria-China Relations: A New Era of Cooperation in Peace, Trade, and Investment+PHOTOS

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By Gloria Ikibah

Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, on Thursday, played host to the Chinese Foreign Minister, Wang Yi, to discuss ways to deepen diplomatic ties and strengthen cooperation between the two nations.

Naijablitznews.com reports that the meeting focused on advancing peace, trade, investment, and mutual prosperity.

Ambassador Tuggar highlighted the long-standing relationship between Nigeria and China, which according to him, has been built on mutual respect, trust, and shared goals.

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He commended China’s advancements in economic development, technological innovation, and global leadership,.and reiterated Nigeria’s is commitment to supporting the One-China Principle and strengthening collaboration on the international stage.

“Our cooperation has yielded fruitful results in various fields, including trade, investment, infrastructure development, and cultural exchange.

“Nigeria, too, is undergoing significant transformations, driven by our vision to become a more prosperous, peaceful, and democratic nation.

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“Consequently, during our discussions, I look forward to exploring avenues to deepen our bilateral engagement, particularly in areas such as trade facilitation, capacity building, and people-to-people exchanges,” Tuggar stated.

He recalled the recent state visit by President Bola Ahmed Tinubu to China in September 2024, during which four Memorandums of Understanding (MoUs) were signed.

“Nigeria reaffirms its commitment to the terms of the MoUs, which are currently at various stages of implementation,” he affirmed.

 

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Ambassador Tuggar further expressed confidence that ongoing discussions with China would yield meaningful outcomes, elevating relations between the two nations to new heights.

In his remarks, Chinese Foreign Minister Wang emphasized the importance of Nigeria-China relations, describing Nigeria as “a major African country with global influence” and “an important member of the global South.”

Yi who stated that his visit aimed to strengthen bilateral relations and foster cooperation in key areas such as trade, investment, and infrastructure development, lauded Nigeria’s contributions to Africa’s peace and development and acknowledged the country’s role in promoting stability across the region.

“China has always viewed and developed relations with Nigeria from a strategic height and a long-term perspective,” Yi said.

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He also reiterated China’s commitment to solidarity with Nigeria, particularly in areas of development and economic revitalization.

The visit aligns with China’s broader objectives under the Forum on China-Africa Cooperation (FOCAC) and follows up on the commitments made during the FOCAC Beijing Summit.

 

Yi noted the success of the recent Intergovernmental Committee meeting in Beijing and acknowledged President Tinubu’s contributions to the summit.

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“During his stay, Wang Yi is scheduled to hold high-level talks with government officials, discussing pressing global issues, regional security, and economic development,” the report added.

Wang Yi was received upon arrival by Ambassador Dunoma Umar Ahmed, Permanent Secretary of the Ministry of Foreign Affairs, alongside other top Nigerian officials and the Chinese Ambassador to Nigeria, H.E. Yu Dunhai.

 

 

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Reps Raises Alarm Over Poor Capital Budget Implementation

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By Gloria Ikibah

The House of Representatives has expressed concern over the low implementation rate of the capital component of the 2024 budget.

Thr Chairman Public Accounts Committee (PAC),  Rep. Bamidele Salam, during an interactive session with the Accountant General of the Federation, Dr. Shakirat Madein, on Wednesday,  revealed that only 25 percent of the capital budget has been implemented.

The chairman who stated that the underperformance hinders economic growth and development, urged the AGF to expedite the submission of the 2022 Consolidated Financial Statement to the Auditor General in line with constitutional provisions.

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Rep. Salam lamented Nigeria’s lag in timely audit report submissions compared to Kenya, Ghana, and Rwanda, attributing this to delays in financial statement submissions by the Accountant General’s office.

Addressing revenue leakages, the committee called for stricter measures, including process automation and regular audits of Government-Owned Enterprises. It also instructed the Accountant General, the Ministry of Foreign Affairs, and the Ministry of Interior to resolve issues delaying the automation of revenue collections from foreign missions to enhance transparency.

Rep. Salam disclosed that the 2021 Auditor General’s Report, recently submitted to the National Assembly, would be prioritized once the 2024 Appropriation Bill is passed.

In her remarks, Dr. Madein attributed delays in the consolidated financial statement to inadequate data from the Central Bank of Nigeria (CBN) but assured that efforts to resolve this are near completion. She pledged to conclude the process within two months.

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The Accountant General also highlighted ongoing initiatives to enhance public expenditure management, including a review of the Financial Regulations 2009, which is awaiting Federal Executive Council approval.

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