All Posts in "Month: October 2024"

LIRS Harvests Awards,Subair Emerges Most Outstanding Public Sector CEO

 

 

 

 Mohammed Shosanya

 

 

The Executive Chairman, of Lagos State Internal Revenue Service, LIRS, Mr. Ayodele Subair has been named the Peak Performer FEST 2024 Most Outstanding Performance as a Public Sector CEO of the year.

 

 

He received the prestigious award at the Peak Performer (TPP) Fest held at the MUSON Centre, Onikan, Lagos.

 

 

 

The event highlights Subair’s unwavering commitment to excellence and innovation within the public sector, sterling transformative initiatives that significantly enhance service delivery,a statement said.

 

 

 

 

His leadership has been pivotal in driving transformative policies and improving service delivery within the agency.

 

 

 

A standout moment of the festival was the LIRS emerging as a major highlight of the event, winning four awards for its exemplary performance in revenue collection and taxpayer engagement strategies. The agency has continually demonstrated innovation in enhancing its operations, thereby contributing significantly to the state’s economic development.

 

 

 

According to the statement,the LIRS was recognised as the ‘most outstanding revenue collection agency of the year’, most outstanding performance as women-friendly revenue collection, as well as most outstanding performance in public engagement among others.

 

 

Accompanied by the LIRS directors, Subair, who received the five awards on behalf of the agency, dedicated them to the state governor, Mr Babajide Sanwo-Olu and the tax-paying Lagosians, saying that the awards would encourage the LIRS to perform much better as it’s always a good feeling when you have recognition for all the hard work and efforts you put into your work.

 

 

 

Imploring the people to support the state more by paying their taxes when due, the LIRS boss noted:“Because a lot of people don’t even connect the dot, people feel that when they go to the US or UK, they are very happy with what they see, good roads, light, security and so much support from the government but somebody has got to pay for it and the only way we can achieve such greatness is when all of us pay our parts.

 

 

“We have a lot of ideas and innovations that we apply because nobody wants to pay tax in any part of the world. Nigeria is not different from other parts of the world. So, we spend a lot of time in advocacy because we realise that a lot of our citizens don’t avail themselves with all the various laws and procedures.”

 

 

He noted that payment of taxes is part of a social contract between the government and citizens as it helps the government to provide efficient infrastructure and qualitative social services.

 

 

He added:”We have to show the people where the money goes to encourage them to pay their taxes as and when due. So, we have a lot of the projects that are going on. So, nobody who lives in Lagos would deny the fact that there are a lot of groundbreaking projects going on in Lagos, so many of them – the Blue Line, the Red Line, all the good roads, security.”

 

 

The Convener of The Peak Performer Festival, TPP Fest, Dr. Abiola Salami, said the award was instituted to appreciate individuals and organisations doing great things in Nigeria.

 

 

He noted that despite the challenges facing the country, “A number of things are going right in Nigeria, and on our continent, it is not all gloom and doom.

 

 

Salami said:“So when things are going right, let us say it. Of course, when things need to be improved, we should say it as well, but not by pontificating or knocking down the people who are not doing things right but by providing solutions to help them because generally, if people know better, they do better.”

 

According to him,TPP Fest focuses on deepening insights to help individuals and organisations thrive and succeed.

 

 

 

Others honoured with the Legacy Awards included Dr. Biodun Shobanjo, Chairman of Troyka and Insight Communications; Sir. Ademola Aladekomo, Chairman of SmartCity Resorts; Adire textile designer, Mrs Nike Okundaye-Davies; Mr Foluso Philips, founder, Phillips Consulting; Dr John Momoh, chairman of Channels Television, and Dr Cosmas Maduka, CEO of Coscharis Group.

 

 

 

 

 

 

 

Online Editor by — October 10, 2024 in Next Level 0
Africa’s Huge Gas Reserves Give Solutions To Prevailing Challenges,Says Seplat Boss

 

 

Mohammed Shosanya

 

 

 

Africa has abundant gas reserves, and these rich reserves offer immediate solutions to the continent’s immediate and prevailing challenges if well leveraged,the Chief Executive Officer, Seplat energy Plc, Mr. Roger Brown,has said.

 

 

 

 

He said this during the ongoing Africa Oil Week (AOW) Conference and Exhibition in Cape Town, South Africa.

 

 

 

The Seplat Energy CEO, whilst delivering the independent Keynote during the AOW Gas Forum themed ‘Enhancing Africa’s Gas Capacity’, stated that gas will provide baseload power to facilitate growth in renewable energy which is still a relatively small proportion of the energy mix in Africa.

 

 

 

 

To decarbonize,he maintained that the world needed to move away from coal as a primary source of electricity.

 

 

 

 

Gas will play a critical role in moving away from reliance on coal and oil for electricity,” Brown said.

 

 

 

The Seplat CEO added:“Messages are mixed, but it is vital that providers of capital see gas as an essential fuel source for Africa. Africa’s abundant gas reserves offer immediate solutions to immediate problems. There is therefore significant gas to deliver widespread electrification in Africa increasing the per capita electricity consumption.

 

 

 

“Africa’s development will require significant improvements in access to energy. Lower-cost, more reliable energy will drive job creation, prosperity and development. Gas can support the achievement of many United Nations Sustainable Development Goals (SDGs) through its role in reducing costs, increasing energy access and increasing prosperity.”

 

 

 

According to him,bottled gas could avoid nearly half a million deaths due to biomass cooking, as well as protect habitats from deforestation. “Natural gas is a cheap and immediate input for fertilizers needed to support large-scale agriculture. Gas is essential for basic infrastructure, as no commercially viable, low-carbon alternatives are anywhere near ready for cement, steel and glass production.”

 

 

Brown,who also spoke in a panel session at the conference dubbed “Gas-to-Power: Unlocking Africa’s Potential”, noted that Seplat Energy sees gas as integral to Africa’s gas-to-power system, and can provide 24/7 power where appropriate, or provide overnight baseload to support renewables.

 

 

“Gas is actually decarbonising Africa’s energy system, when compared to the millions of domestic and business generators in use today. It produces half the CO2 emissions of diesel and burns more cleanly without particulates,” he said.

 

 

Using the Seplat Energy ANOH Gas Plant as an example, Brown said when operational, the plant it will support more than 1GW of grid-scale generation, displacing many small-scale generators. 

 

 

 

The impacts,he said,would be enormous, as it will:lower costs and economic benefits to businesses and households;reduce foreign exchange drain wasted on importing fuel and generators;drive higher efficiency and reduced emissions,both CO2 and particulates; and ensure rehabilitation of existing grid capacity idle for lack of gas.

 

 

 

He disclosed that Seplat energy is investing in its midstream gas business to deliver more gas and Liquefied Petroleum Gas (LPG) to the market, whilst capturing more of the essential transition fuel and driving down carbon intensity.

 

 

 

“We have made good progress with our capital investment projects portfolio which includes end of routine flaring, ANOH, Sapele Integrated Gas Plant, which will process natural gas and LPG for delivery into the domestic market. We are working on several investment opportunities in the new energy sector with focus on developing gas-to power and renewable energy businesses,” the Seplat CEO added.

 

 

 

 

 

 

 

 

Online Editor by — October 10, 2024 in Oil&Gas 0
Techeconomy Business Series Debuts

 

 

Mohammed Shosanya

 

 

 

Techeconomy, a Lagos-based media startup, has announced the launch of Techeconomy Business Series [TBS].

 

 

The startup which offers its readers Content-as-a-Service (CaaS) by telling you what is new in Technology, Business and Economy; reflecting on why it matters, how it works and the benefits, is working with ThinkingCap Consulting to innovate on breakthroughs that brands need to thrive.

 

 

 

 

 

TBS debuts with a webinar scheduled for Thursday, October 10, 2024 by 10:00AM (WAT).Participation is free,but you are required to register via: https://rebrand.ly/techeconomy-business,a statement said.

 

 

 

Speaking ahead of the webinar,Peter Oluka, the editor, Techeconomy,said:“As a digital news platform that stands apart for its commitment to truth and accuracy, for the quality of its reportage of technology – business – economy related events, Techeconomy is always looking at avenues to add values and enrich our contents while providing opportunities to businesses and partners to meet their goals.

 

 

 

“The Techeconomy Business Series is designed to explore the intersection of technology and business, providing insights into how technological advancements shape industries, drive innovation, and impact economic growth.

 

 

 

 

“The series typically focuses on key topics such as digital transformation, emerging tech trends, and their practical applications for businesses. It covers case studies, expert opinions, and analysis on how companies can leverage technology to enhance operational efficiency, improve customer experience, and scale globally.

 

 

 

 

“Additionally, it offers advice on navigating challenges in tech adoption and fostering a culture of innovation.

 

 

 

“As the saying goes, ‘Business is more than making money- it is an opportunity to meet people’s needs. Business is more than providing services, it is about solving problems’, Techeconomy Business Series [TBS] gives us the opportunity to discover the breakthroughs that brands need to win.

 

 

 

Mr. Destiny Eseaga, the business editor, said:“Our mission is to make content publishing more valuable to the individuals and businesses. Our team works round-the-clock to explore and explain the changing world around us, tilting the lenses on the emerging market.TBS is borne out of that innate desire to add value”.

 

 

 

Eseaga said that the first edition of Techeconomy Business Series’ webinar under the theme: “Nigeria Tech Space: From Independence to Digital Age” is being convened to celebrate Nigeria’s 64th Independence.

 

 

 

 

He added that the faculty, including, Hilary Utuke, Cynthia Alabi, Oluwabusuyi Anonis Fakanlu, and Abraham Great, were carefully selected to discuss the topic and provide participants with insights on how to digitally position their businesses.

 

 

 

Hilary Utuke is the CEO of Korlod Works, a top Digital Marketing firm in Lagos. He’s authored four books including “Digital Strategies for Online Brand Visibility” and created Digital Luminary Pro™, a model helping Nigerian Thought Leaders connect with Millenials and GenZ audiences.

 

 

 

Cynthia Alabi is a seasoned Revenue Growth Expert with over a decade of experience dedicated to driving growth in technology-driven companies. She has developed a unique blend of skills in sales, marketing, and business development, with a strategic focus on supporting and creating customer-centric brands, services, and solutions.

 

 

 

Her exceptional ability to foster business growth in start-ups is buoyed by her expertise in non-technical roles, including customer success, account/stakeholder management, customer service, and enterprise sales. 

 

 

 

 

This diverse experience allows Cynthia to consistently employ a strategic approach to client satisfaction and data-driven decision-making, resulting in outstanding outcomes.

 

 

Oluwabusuyi Anonis Fakanlu, as the co-founder and managing director of CAF LTD/CAF UNIVERSAL LLC, a construction and real estate development company, he leads a team of dedicated professionals who consistently deliver high-quality projects, eco-friendly, energy-efficient, and sustainable projects at a competitive cost.

 

 

With over 24 years of industry experience, he has overseen every stage of projects, from planning and design to construction, management, maintenance, and operation of various buildings and constructions.

 

 

 

Abraham Great is a Management Consultant, Trainer, Destiny Coach, Leadership Expert, Author, Legal adviser, content writer, song writer, artist and a clergyman.

 

 

 

He is the chairman and Chief Executive Officer of Great Dynasty Group – with subsidiaries in the UK, Nigeria, Ireland, and North America.

 

 

 

His professional experience of over sixteen years has seen to the development and management of various organizations, that in turn, provide value, enrich lives and help society become a better place.

 

Anselem Imoh, a project management specialist, will moderate the session.

 

 

Online Editor by — October 10, 2024 in Business 0
Reverse Fuel Price Hike,Nigerians Getting Poorer,NLC Tells FG

 

 

  Mohammed Shosanya

 

 

The Nigeria Labour Congress,NLC has asked the Federal Government to reverse the new hike in the pump price of petrol it announced on Wednesday.

 

 

Its President,Comrade Joe Ajaero,who conveyed this in a statement on Wednesday,lamented that previous increases in the product did not produce any good result,as Nigerians only got poorer.

 

 

According to him,the current hike will further deepen poverty as production capacities dip,more jobs will be lost with multidimensional negative effects.

 

 

 

He told the government to be bold enough to tell Nigerians in advance the destination it wants to take the country with torrents of increases in the pump price of the product.

 

 

He added:”We are dismayed by the latest increase in the pump price of petrol. It looks like the only thing this government is known for is increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.

 

 

“Even following the logic of market forces , we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly.

 

 

“We challenge the government to go to the drawing board and present us with a blueprint for an inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy.

 

 

“It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities”.

Online Editor by — October 9, 2024 in News 0
Hike:Fuel Marketers Get New Ex-Depot Prices As Stakeholders Kick

 

Mohammed Shosanya

 

 

The Nigerian National Petroleum Corporation Limited,NNPCL,Wednesday unveiled a new ex-depot prices of petrol to fuel marketers in the country.

 

 

According to the NNPC,the new ex-depot prices for petrol are as follows:

– Calabar (Cross River State): N1,050 per litre

-Lagos State: N1,010 per litre

– Port Harcourt (Rivers State: N1,045 per litre

-Ogara (Delta State): N1,040 per litre

– Koko (Delta State): N1,040 per litre

-Warri (Delta State): N1,040 per litre

 

 

The new ex-depot prices came after the pump price of petrol was increased again in the early hours of Wednesday.

 

Premium News reports that the new pump price of fuel has been reflected in Abuja,Lagos and other parts of the country .

 

 

Stakeholders,who spoke with Premium News lamented the current hike in petrol prices by NNPC will significantly impact everyday Nigerians,worsening the high cost of living in Nigeria.

 

President Bola Tinubu, had on Monday May 29, 2023, during his inaugural address at Eagle Square, Abuja, shortly after he was sworn in as the 16th President of Nigeria, announced that his administration will remove the subsidy on Petroleum products, proclaiming “Subsidy is gone”.

 

Meanwhile,the Chief Executive Officer of Centre for the Promotion of Private Enterprise,Dr.Muda Yussuf,has criticized the latest hike,saying the increase in petrol price is regrettably ill timed and does not reckon with the prevailing difficult economic conditions.

 

 

In a statement on Tuesday,he said social, economic and political considerations matter in policy choices,but commercial considerations should not completely override these considerations.

 

 

 

There is always a place for political economy in the interest of the vulnerable segments of society, he said.

 

 

He said:”The Nigerian economy is not ripe for full blown deregulation and market pricinples on all fronts.The social cost of such policy choices are typically very high. This is an economy with very weak social safety nets.Over one hundred million people are wallowing in various variants of poverty.

 

 

 

“There is also an issue of policy sequencing. The present administration has presented an Economic Stabilisation Bill to the national assembly. The Bill is expected to bring some relief to the citizens and businesses. It would have been better to allow the proposed mitigating measures to be activated and gain traction before coming up with the petrol price hike”.

 

 

 

According to him,what the economy needs at this time are measures to ease the current economic and social challenges; not policies that would aggravate them.

 

 

 

He emphasized the need to urgently cut import duties and taxes by a minimum of 25% on all industrial raw materials, passenger buses of 18 seater and above and cars of 2000cc engine capacity and below.

 

 

He also said customs duty exchange rate should be fixed at a maximum of N1000/dollar to reduce current prohibitive cost of imports,while relevant legislation should be amended to that effect.

 

 

He added:”The government must be ready to trade off some revenue in the current situation.There is a need to seek to achieve the maximisation of welfare function for citizens and productivity function for businesses. The government should not be too fixated on revenue maximisation”.

Online Editor by — October 9, 2024 in Oil&Gas 0
Odegbami Seeks Fnancial Assistance For Ex-Nigerian Goalie,Peter Fregene

Nigerian football legend, Segun Odegbami,has sought financial assistance for ailing ex-Nigerian goalkeeper, Peter Fregene.
Odegbami disclosed in a statement that Fregene is hospitalised in Sapele, Delta state, and urgently needs medical attention and financial assistance.
He said his colleague is “waiting for help to be moved by ambulance” to the Ohara Teaching Hospital.
According to him, although “Tony Ojesina covered the ambulance costs, more funds need to be paid before he can be moved” to the teaching hospital.
He bemoaned the lack of a functional welfare scheme for retired athletes” in Nigeria.
He said in the full statement:
“I am frustrated because I am publishing this ‘horror’ picture (a picture of Fregene in a hospital bed), wishing I could do what needs to be done for a colleague without having to resort to yet another public appeal to the same few Nigerians that have, through the years, intervened in the matter of ill-health of a few retired, suffering Nigerian football heroes.
“By now, we must have exhausted any remnant of ‘goodwill’ we have with Femi Otedola, Mike Adenuga, Babajide Sanwo-Olu, Babatunde Fashola, Benson Ejindu, Allen Onyema, and a few other Nigerians who often came to the aid of a few lucky sports heroes several times in the past.
“Even if they have not complained, we are ashamed to go back to them again.Why don’t we have, or why can’t we set up, even on our own, a simple welfare scheme for active and retired athletes across all sports in the country, to take care of our declining health in old age, long after our sports careers?
“The danger now is that the number of retired ageing sports heroes languishing in poverty, neglect and ill health is legion already, and growing. Their stories are ugly and shameful.
“The government has demonstrated time and again that sport is not a priority. 64 years after Independence they cannot and will not see it differently, period.
“So,Peter Fregene is a reminder to us all again. As I look at him lying comatose on a hospital bed in Sapele and experiencing the suffering he must be going through, my frustration is mounting.
“It appears doing something for, and beyond, Peter is a responsibility that ‘fate and metaphysical aid’ seem to have put around my neck. So, we shall see, as our people would say when they do not know what’s coming next.
“So, what is the situation with ‘Apo’ now? He is still waiting for help to come in order to be moved by ambulance to the Ohara Teaching Hospital, Ohara, Delta State. He has been waiting since yesterday.
“I hope Globacom that have been taking care of his every need in the past year would respond once again and come to his aid.
“A friend sitting next to me yesterday as I discussed Peter with his wife on the telephone last night, Tony Ojesina, immediately paid for the cost of the ambulance that would convey him there. But he still has other bills to pay before he can be moved.
“Fregene was the first-choice goalkeeper for the Nigeria national football team from 1968 to 1971. He was then recalled for the 1982 African Cup of Nations finals. He also represented Nigeria at the 1968 Olympics in Mexico”.
Online Editor by — October 9, 2024 in Sports 0
Accountants Seek Resuscitation Of Refineries,National Airline

         Mohammed Shosanya
The Institute of Chartered Accountants of Nigeria [ICAN),has implored the Federal Government to fix the nation’s refineries and encourage private sector investment in the sector.
President of ICAN,Chief Davidson Chizuoke Alaribe,Diamond President of ICAN,gave the charge on Tuesday at the 54th Annual Accountants Conference [AAC] of the Institute of Chartered Accountants of Nigeria [ICAN] in Abuja.
He said: “I urge you to take decisive action in addressing critical economic challenges.The government must focus on fixing the nation’s refineries and, at the same time, encourage private sector investment in that sector.
“This will ensure an adequate supply of fuel at affordable prices, reducing our dependence on imports and creating stability in the energy market.”
Advocating the resuscitation of a National Airline through private sector participation, Alaribe expressed the need for the government to give greater encouragement and support to Small and Medium-sized Enterprises (SMEs), which is the backbone of any economy and hold the key to sustainable economic growth.
He emphasized the indispensablility of good governance in the nation’s quest for economic recovery and development.
He said: “We are also aware that the journey towards excellence is continuous and demands our relentless commitment.
“In this year’s theme, we are set to probe the theme ‘Governance Reimagined: Mapping the Future’. This is a visionary concept that seeks to transform the governance landscape in Nigeria.
“As it is strongly evident that effective governance is the cornerstone of strong institutions and a prosperous society.
“Given the intricate nature of our interconnected world, it is imperative to critically rethink conventional governance structures, reimagine models, and adopt innovative approaches to address emerging challenges.
“It has therefore become exigent that we prioritise institutional reforms, citizen engagement, technology-driven governance, economic diversification, and human capital development, to create a more resilient, equitable, and sustainable future for all.
“A report by World Bank, states that countries with strong governance frameworks have GDP growth rates that are 2.7 times higher than those with weak governance.
“Additionally, Transparency International reports that countries with higher governance standards have lower levels of corruption and higher levels of public trust.
“The 2023 Global Risks Report by the World Economic Forum highlights that over 68% of global risk experts believe that governance failures are a top concern for the next decade.
“In Nigeria, governance remains both a challenge and an opportunity. The Nigeria Governance Index reveals that although progress has been made, substantial work is still needed to enhance the economic growth of Nigeria.
“For instance, at the end of Q2, 2024, The Nigeria’s Unemployment Rate is 4.0%, this rate is based on the number of people actively looking for job as a percentage of the labour force, emphasising the need for more job creation through good governance.
“The theme of this Conference – Governance Reimagined: Mapping the future and the plenaries, is aimed at exploring issues such as Economic Reforms, Social Contract and Nation Building, Human Capital Development, Agribusiness and Value Chain, Export Business among other sub-themes that are all geared towards creating opportunities and charting a part for building a boisterous and formidable economy.”
He also urged the Federal Government to revisit the current exchange rate determination process, adding that “A thorough review will help establish a true value for our Naira, which is essential for strengthening our currency, boosting investor confidence, and enhancing the overall economic stability of our nation.”
Alaribe also advised Nigerians to change their orientation towards the consumption of foreign goods and reassess what he described as “our borrowed culture.”
“Distinguished leaders, it is imperative that we, as a nation, begin to change our orientation and reassess our borrowed culture.
“We must embrace what we produce and export to the global market such as our shoes, clothes, and other local products rather than continuing the misconception that foreign goods define social class.
“It is disheartening that Nigerians are often advised to rearrange their excess luggage at foreign airports, a consequence of over-reliance on imported goods, which places undue pressure on the Naira.
“We need to teach our children to value and consume Nigerian and African foods, which will reduce the importation of foreign baby foods and foster economic resilience.”
He urged the delegates to develop a comprehensive framework to address governance challenges and pave the way for Nigeria’s exponential growth.
He said:”This prestigious gathering offers us not only an opportunity to reflect on the challenges that lie ahead but also a platform to envision innovative strategies that will redefine governance for the future.
“The resolutions and outcomes of past conferences have influenced the political and economic landscape of Nigeria and beyond.
“And this year, we look forward to once again charting a course that strengthens our governance systems, enhances the role of accountancy, and contributes to the broader progress of our nation.”
Online Editor by — October 9, 2024 in Oil&Gas 0
Oando,Aiteo Face Probe Over Alleged Environmental Violations

           Mohammed Shosanya
The House of Representatives Joint Committee on Environment and Petroleum Resources (Upstream and Downstream) has summoned the Managing Directors of Aiteo Exploration and Production Company, Victor Okoronkwo, and Oando Oil Ltd (formerly Nigerian Agip Oil Company), Bolondi Fabrizio,to appear within seven days.
The development follows their failure to attend hearings related to an oil spillage affecting the Olugboboro community in Southern Ijaw, Bayelsa State, despite three previous invitations.
At the hearing in Abuja on Tuesday,Chairman of the Committee, Hon. Pondi Gbabador, expressed the lawmakers’ frustration with the non-compliance of the oil executives. 
“This is not just about corporate responsibility; it’s about the health and safety of our communities.We cannot allow companies to operate without accountability, especially when lives and livelihoods are at stake”,he said
He emphasized that the Committee had been mandated to investigate the activities of the companies, whose operations are alleged to have severe environmental impacts on host communities. 
“The oil industry is crucial for Nigeria’s economy, contributing significantly to national income, employment, and infrastructure development,” he noted.
“However, these contributions must not come at the expense of our environment or the welfare of our people.The operations of oil companies must be conducted in a sustainable and environmentally responsible manner,” Gbabador added.
He reminded the attendees that the House had passed motions in March and July of 2024, urging Aiteo to conduct an Environmental Impact Assessment (EIA) and for Agip (now Oando) to address an oil spill affecting the Olugboboro community.
The Committee is investigating oil spills in the region and the companies’ failure to comply with environmental standards. “We are here to hold responsible parties accountable,” he declared.
“Our aim is to recommend remedial actions, including compensation for affected communities and measures to prevent further environmental damage.”
Rofikat Odetoro,representing the Ministry of Environment, revealed during the session that Aiteo was operating outside of the approved EIA scope by transporting crude oil via barges instead of pipelines, as initially stipulated.
“This is a clear breach of protocol,” Odetoro remarked. “We were not informed of these changes, which raises serious concerns about compliance and oversight.”
The Committee reiterated the need for transparency from the oil companies, stressing that their activities must align with environmental laws. “We expect these companies to operate with integrity and respect for both the law and the communities they impact,” Gbabador said.
The outcome of the investigation is expected to set a precedent for how Nigeria handles industrial activities and environmental issues moving forward. Odetoro also recommended that Aiteo conduct a post-embargo assessment to evaluate the impact of their operations over the past two years.
“Understanding the long-term effects of their actions is crucial for ensuring future compliance,” she emphasized.
The Ministry has requested technical details and relevant project documents from Aiteo to aid its assessment, but these are yet to be submitted.
“We urge Aiteo to cooperate fully with this inquiry; the future of many communities depends on it,” Gbabador added.
Online Editor by — October 9, 2024 in News 0
NESG Ties Africa’s Economic Growth To Innovation,Digital Revolution

      Mohammed Shosanya
Igniting innovation and fostering digital revolution, stands out as a critical pathway to sustainable economic growth and development in Africa,the Nigerian Economic Summit Group(NESG),has said.
Ms. Ayanyinka Ayanlowo, Acting Head, Strategic Communication & Advocacy,
NESG,conveyed this in a statement on Tuesday.
According to the statement,the 30th Nigerian Economic Summit (NES #30), would focus on igniting innovation and fostering digital evolution, which is a sub-theme of the Summit.
The group said,embracing digital technologies is paramount for driving entrepreneurship, enhancing productivity, and creating new job opportunities in Africa.
This year’s summit will provide an invaluable platform for stakeholders to deliberate on strategies that embrace digital technologies and innovation, which are essential for enhancing productivity, creating new job opportunities, and ensuring inclusive development across the continent,it also said..
It added:”Innovation is the key to competitiveness, enabling African businesses to thrive in the global market.
“By investing in digital infrastructure, education, and supportive policies, Africa can bridge the digital divide and empower its youth, who are pivotal to the continent’s future.
“Digital solutions have the potential to improve access to essential services such as healthcare, education, and finance, fostering inclusive development.
“For instance, telemedicine can revolutionise healthcare delivery in remote areas, online education can democratise access to quality learning, and digital banking can bring financial services to the unbanked populations.
“Ultimately, a digitally evolved Africa can unlock its full potential, ensuring sustainable and equitable progress.”
The NESG said the 30th Nigerian Economic Summit represents a pivotal moment for Nigeria and Africa, adding that  by focusing on innovation and digital evolution, NES #30 will chart a course for a more inclusive, competitive, and prosperous future. 
Online Editor by — October 9, 2024 in News 0
NNPC Refinery Operations:You Lied,Minister Carpets Representative 

      Mohammed Shosanya
Senator Heineken Lokpobiri,Minister of State Petroleum Resources (Oil) has faulted certain claims made on the operations of the Nigerian National Petroleum Company Limited by Engr. Kamoru Busari, Director of Upstream in the Ministry of Petroleum Resources.
Busari represented the Minister on Tuesday at the first edition of Crude Oil Refiners Association of Nigeria ( COREN) Summit in Lagos,where he reportedly told the Nigerian National Petroleum Company Limited (NNPCL) to stop running the country’s refineries and take equity in private refineries.
He added:”We urge the state oil company to take equity in the other upcoming refineries rather than running refineries”
Reacting in a statement,Heineken Lokpobiri stated that the claim that he directed the Nigerian National Petroleum Company Limited (NNPCL) to stop running its own refineries and focus solely on equity participation in other refineries is false.
He said this does not represent my position as Minister overseeing the oil sector,nor does it reflect the stance of the Federal Government.
He clarified that NNPCL is a company governed under the Companies and Allied Matters Act (CAMA), with a functional board and management,adding that the Ministry of Petroleum Resources does not control or run NNPCL, as it operates independently like any corporate entity.
He added:”The oil and gas sector is fully deregulated, and the Nigerian government remains committed to promoting in-country refining. We encourage companies, including NNPCL, to operate independently, following global best practices. While we provide strategic guidance, we do not interfere directly in the operations of these companies.
“I reaffirm our commitment to supporting the growth and independence of NNPCL, ensuring that its operations are in line with international standards for efficiency and transparency and profitability”.
Online Editor by — October 8, 2024 in Oil&Gas 0