Business
Ogun beckons on Indonesia to develop seaport, airport, housing
The Ogun State government is seeking to collaborate with Indonesia to develop the state’s seaport, airport, housing, and other sectors of its economy.
The government has also announced its plans to set up an economic team to liaise with Indonesian investors to explore areas of interests that will be mutually beneficial to both the state and the Pacific nation.
Ogun State Governor Dapo Abiodun made this known when he hosted the Indonesian Ambassador to Nigeria, Usra Hendra Harahap, in his office at Oke-Mosan, Abeokuta.
Abiodun noted that Indonesia has made tremendous progress in the areas of technology, infrastructure, housing, transportation and medicine, expressing the state’s interest to tap in.
“Ogun has more than enough land to accommodate a lot of industries. We are desirous of building a seaport because the deepest part of water in the country is in our state,” the governor said.
“We will be willing to collaborate with Indonesia to develop seaport, airport, housing, and other sectors. We look forward to seeing how the state and Indonesia can work together to actualise all these,” he said.
According to the governor, Ogun State has more than 12,000 square kilometres of arable land suitable for the cultivation of food and cash crops, adding that the state has the highest palm oil plantations which the Indonesian investors could leverage.
Abiodun said his administration was adopting a multi-dimensional transportation system that would help in fast-tracking the economy of the state, expressing the hope that Indonesia, with its feat in the sector, would work with the state to achieve its transportation objectives.
While assuring conducive environment for investment, the governor assured the Indonesian ambassador that Ogun State has put in place what investors need in terms of ease of doing business and availability of adequate manpower.
On electricity, however, he said the state was working towards providing adequate electricity in all its industrial clusters, inviting Indonesian companies and investors from other parts of the world to come and explore potentials that exist in the state.
Speaking earlier, Harahap said Indonesia has made significant inroad in the areas of technology, infrastructure, agriculture, medicine, among others, noting that his country has a lot of interesting information on Ogun State and was ready to do business with the state.
According to him, the state government’s desire to bequeath a modern transportation system that would herald more development was well known to Indonesia, adding that the country was ready to invest in modern railway and would collaborate with the state in developing its cargo airport.
The ambassador further disclosed that Indonesian companies have built landmark infrastructure in many parts of the world ranging from bridges, heavy machines, blue-chip equipment, solar systems, among others.
“Indonesian investors are interested in joint ventures with their Nigerian counterparts in agriculture and housing development,” he said.
Business
We will sell fuel at N935/litre from today – IPMAN
We will sell fuel at N935/litre from today – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the price of petrol will drop to N935 per litre by Monday, following a new arrangement by Dangote Refinery.
Newstrends reports that Dangote Refinery recently slashed its fuel price by 7.27 per cent, reducing it from N970 per litre to N899.50k per litre for oil marketers.
IPMAN attributed the price reduction to a decrease in Dangote Refinery’s fuel ex-depot price and a uniform pricing structure, which will enable marketers nationwide to sell at the new rate.
Alhaji Maigandi Garima, IPMAN’s National President, disclosed the development during an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday. He commended Dangote Refinery for the initiative, describing it as a timely intervention.
He said, “Dangote refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899.50.
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“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday.
“We have been loading from the Dangote refinery and the refinery is saving us in this festive period.”
He added that the new arrangement reflects a significant drop from the previous ex-depot price of N970 per litre at Dangote Refinery.
Garima noted that deregulation of the downstream sector has fostered healthy competition, paving the way for a steady decline in fuel prices.
“That is the reason why we have been asking the government to allow private sectors to participate in the refinery business.
“Very soon, more refineries are coming up and the country will see a lot of price reduction in the downstream sector,’’ he added.
Reflecting on the 2023 yuletide period, Garima recalled that petrol was sold at N2,000 per litre in parts of the Northern and Eastern regions due to reliance on imported fuel.
He noted that prices in those areas are now capped at N1,100 per litre due to the functioning refineries in the country.
We will sell fuel at N935/litre from today – IPMAN
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
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