All Posts in "Month: November 2024"

NDDC Partners Chevron On Construction Of Warri-Escravos Road

      Mohammed Shosanya

The Niger Delta Development Commission, NDDC,has emphasised the import of its partnership with Chevron Nigeria Limited on the construction of the 70.75km Omadino-Okerenkoko-Escravos Road and bridges in the Warri North Local Government Area of Delta State.

Its Managing Director, Dr Samuel Ogbuku, spoke on the project when he led a delegation of the Commission’s Executive Management and Directors to meet with the Chevron Management led by the Director, NNPCL/Chevron Joint Venture, Dr Segun Kuteyi,at the Chevron headquarters in Lagos.

Ogbuku,according to s statement signed by the spokesperson of the agency,Seledi Thompson-Wakama, restated the commitment of the NDDC to the completion of the Omadino-Escravos Road, which he said would link Warri to Escravos, the hub of oil and gas activities in Delta State.

He added that the construction of the road would boost oil production and other economic activities in the area.

He identified Escravos as an area of special economic priority, stating that NDDC was taking steps to make it more accessible by rallying the support of stakeholders for a broad partnership that would expedite the construction and completion of the high-impact road to the area.

The NDDC boss stated that President Bola Ahmed Tinubu’s administration emphasised stakeholders’ engagement, noting that the Commission had adopted that approach and embraced the Public Private Partnership (PPP) initiative.

Ogbuku noted that the partnership between the Shell Petroleum Development Company of Nigeria Limited and the NDDC in constructing the 25.7 km Ogbia-Nembe Road should be replicated for other projects.

He stated, “We chose the Public-Private Partnership (PPP) model as an alternative funding source for the Commission. So, we have been seeking funding partners to complete our current projects and start new ones.”

According to the Managing Director, “One of the positive fall-outs of the PPP initiative is the signing of a Memorandum of Understanding, MoU, between the NDDC and the Nigeria Liquified Natural Gas Limited, NLNG. They agreed to collaborate on diverse fronts in delivering sustainable development projects.”

Online Editor by — November 21, 2024 in Property 0
TCN Pledges Support For Lagos Electricity Regulatory Responsibility 

       Mohammed Shosanya

 

The Managing Director/CEO of Transmission Company of Nigeria,Engr. Sule Abdulaziz,has promised to support Lagos as it prepares to take up regulatory responsibilities under the new electricity act.

 

 

 

 

He disclosed this when hosted a delegation from the Lagos State government at its corporate headquarters in Abuja on Tuesday,a statement by Ndidi Mbah, TCN’s General Manager Public Affairs,said.

 

 

 

Welcoming the delegation,led by Biodun Ogunleye, Commissioner for Energy and Mineral Resources,Abdulaziz highlighted TCN’s completed and ongoing projects in Lagos, including the ongoing 300MVA, 330/132kV power transformer, 2 x 60MVA 132/33kV at Lekki substation, 300mva 330/132kV power transformer at Alagbon,  100MVA 132/33kV commissioned power transformer at Alausa, Alagbon, ijora substations as well as 2x 60 MVA, 132/33kv at Apapa road substation.

 

 

 

According to him, Lagos is a critical market, and efforts will continue to be be geared towards improving infrastructure for enhanced power supply.

 

 

 

 

He emphasized the agency’s openness to collaboration with states and stakeholders to improve bulk power supply,adding that the Market Operator is working to create a conducive electricity market between TCN and state governments.

 

 

 

 

In his remarks,the Commissioner,Mr. Abiodun Ogunleye explained that the visit aimed to seek TCN’s support and collaboration as Lagos enters a new phase in the electricity market.

 

 

 

He said:”the bill to create the Lagos State Electricity Commission has been passed and awaits the Governor’s assent. So, in preparation for the full implementation,  we’re here to discuss areas of collaboration, learn from TCN, and understand its constraints to develop our strategic plan.”

 

 

He added that Lagos contributes significantly to TCN’s revenue, stating, “We’re an affiliated state with 1% of Nigeria’s landmass but 30% of the population. We contribute about 50% in terms of consumption and revenue to TCN and will take over regulatory responsibility of 60% of TCN markets”.

 

 

Online Editor by — November 21, 2024 in Power 0
Recapitalisation:Nine Nigerian Banks Raised N1.7trn Through E-Offering-SEC

 

Mohammed Shosanya

 

 

The Director General,Securities and Exchange Commission, SEC, Dr Emomotimi Agama,says so far about N1.682 trillion has been raised by banks through e-offering in the bank recapitalisation exercise.

 

 

 

 

 

He disclosed this on the sidelines of the recently held Chartered Institute of Stockbrokers Conference held in Ibadan, Oyo State, a statement said on Wednesday.

 

 

 

 

 

He explained that the launch of its e-offering platform was instrumental to the success of the recent banks recapitalization exercise.

 

 

 

 

 

According to him,the amount was raised in 12 applications by nine banks while some applications are still open pending.

 

 

 

 

He said technology is an enabler in the capital market and a prime tool for growth, adding that the Commission would continue to employ technology in different angles to aid its work and ensure a deeper capital market.

 

 

 

 

“What you have seen so far is the use of technology to drive the market with more investors coming into the market. As you are aware, we just launched the e-offering platform that ensured the offering processes for banks for which over 1.7 trillion naira was raised.

 

 

 

 

”That tells you what technology can do, we are also exploring technology for other activities, for monitoring and surveillance and other processes that will bring about a cohesion of all the policies that the SEC has applied to make the market grow bigger than it is today”.

 

 

 

 

Agama emphasized that the Commission has implemented various initiatives to reduce time to market, including streamlined registration processes: Introduction of an electronic filing system and Enhanced regulatory frameworks among others.

 

 

 

 

The efforts,he stated,are aimed at improving the efficiency and attractiveness of the Nigerian capital market, promoting economic growth and development.

 

 

 

 

He added: “A shorter time to market can benefit capital market development in several ways: Increased liquidity: Faster listing allows companies to access capital more quickly, increasing liquidity in the market: Improved investor confidence: Efficient listing processes can enhance investor trust and confidence in the market: Enhanced competitiveness: A shorter time to market can make a jurisdiction more attractive to companies and investors, promoting competition and growth and better allocation of resources: Faster capital raising enables companies to allocate resources more efficiently, driving economic growth”.

 

 

 

He maintained that the one trillion dollar economy is feasible especially with the drive and commitment of President Bola Tinubu in ensuring that other sectors of the economy are in full swing adding that the capital market is available to provide long term funding to boost the economy.

 

 

 

According to him,the nation needs to diversify the economy beyond oil exports, invest in infrastructure, human capital and innovation, enhance the business environment and reduce regulatory hurdles as well as promote financial inclusion and access to credit for SMEs and individuals.

 

 

 

“The Nigerian economy is a very vibrant economy full of promise in view of the natural resources in this country and the ability to harness these natural resources comes from seeking long term financing. The only place you can get long term financing that is enduring the capital market.

 

 

 

“Total commitment, more education, to build trust and confidence, integrity and an inclusive market that will bring everybody together to achieve the objectives of Mr. President.

 

 

 

Agama had recently stated that the guidelines issued by the commission before the banking recapitalisation exercise increased transparency of the process, making it easier for Nigerians to participate.

 

 

 

He also explained that the recapitalisation exercise was a crucial measure by the government to strengthen the banks.

 

 

 

In March,the Central Bank of Nigeria announced new capital requirements for the country’s banks, which were aimed at strengthening the financial institutions and achieving President Bola Tinubu’s $1tn economic target.

 

 

 

The SEC framework was a direct response to the CBN’s recent directive for banks to bolster their capital base.

 

 

 

Speaking on the achievement,Agama explained that the commission provided clarity before the recapitalisation exercise commenced because the current management of the commission is interested in integrity and transparency of processes”

 

 

 

 

He said: “That clarity came out of the regulations that the SEC brought up to support the banking recapitalisation. It is a very important step by the government to strengthen the banks and indeed provide capacity for the banks to lend to the real sector for us to drive the economy, as provided for by the Renewed Hope Agenda Initiative and the design of the President to turn out a $1tn economy”.

 

Online Editor by — November 20, 2024 in SEC 0
House Seeks N500bn For DisCos’ Recapitalisation

      Mohammed Shosanya

The House of Representatives has directed electricity distribution companies (DisCos) in Nigeria to undergo a recapitalisation exercise to the tune of N500 billion.

The lawmakers explained that the  measure is aimed at strengthening their financial capacity to effectively deliver reliable electricity services to Nigerians.

The resolution of the House was reached on Wednesday following the adoption of a motion titled:“Need to Address the Activities of Distribution Companies in Nigeria”, sponsored by Hon. Ayokunle Isiaka, who represents Ifo/Ewekoro Federal Constituency in Ogun State.

Soliciting support for his motion, Hon. Isiaka stressed the growing concerns over the operations of electricity distribution companies (DISCOs) across the country, noting that their activities have increasingly threatened Nigeria’s economic stability and the welfare of its citizens.

He expressed disgust that despite Nigerians paying for electricity meter installations, DisCks often demand additional payments for meter replacements under questionable circumstances, further compounding the financial burden on consumers.

“The  House expresses concern that consumers, who had previously paid for electricity meter installations, are now being pressured into making additional payments for replacements. This practice imposes undue financial strain on households and businesses already grappling with economic hardships”,he added. 

An All Progressives Congress (APC) lawmaker had raised concerns over what he described as the “sabotage of economic development” by electricity distribution companies (DISCOs).

He accused the companies of exploiting essential services to the detriment of citizens, thereby stifling economic growth and progress.

He further lamented that despite consistent regulatory oversight and demands for accountability by the House Committee on Power, DISCOs have continued to operate with impunity and a blatant disregard for consumer rights.

Sequel to the adoption of the motion,the House presided over by the Speaker, Tajudeen Abbas urged DISCOs to “Undergo recapitalization of not less than N500bn and only those with the required financial muzzles that can provide maximum satisfaction to consumers are allowed the space to continue to operate.”

The House further directed the Federal Ministry of Power to classify Distribution Companies (DISCOs) as non-state actors and to take urgent measures to address their reckless practices, which pose a significant threat to the nation’s economy.

The House has directed its Committee on Power to investigate the activities of electricity distribution companies (DISCOs) in Nigeria. This move is aimed at ensuring accountability and safeguarding consumer rights.

To address concerns over transparency and fairness,the House further mandated the committee to spearhead awareness campaigns to educate consumers about their rights.

Besides,the committee is tasked with examining the implementation of stringent regulations governing the operations of DisCos,with the goal of fostering equitable and transparent practices in their dealings with consumers.

Online Editor by — November 20, 2024 in Power 0
Reps Probe N30bn Unsettled Insurance Claims

       Mohammed Shosanya
The House of Representatives has directed its Committee on Insurance and Actuarial Matters to conduct a forensic investigation into over ₦30 billion in unsettled group life insurance claims affecting the Nigeria Police Force,the Head of Service, and the Ministry of Defence.
The House raised concerns over unsettled claims attributed to the lack of actuarial valuations, gap analyses, and non-compliance with key legal provisions, including Section 57 of the Insurance Act, 2023, and Section 4(5) of the Pension Reform Act, 2014, among others.
The resolution of the House was sequel to the adoption of a motion titled “Breaches and Other Infractions by Some Federal Government Institutions on Insurance and Actuarial Matters Using Forensic Auditors,” moved by Hon. Sulaiman Gumi, representing Gummi/Bukkuyum Federal Constituency of Zamfara State.
Speaking in support of the motion,Gumi highlighted several challenges plaguing the insurance industry. He noted that conventional insurance is hampered by outdated laws, a shortage of professional loss adjusters, irregular payment of loss adjusters’ fees, and the non-remittance of premiums, particularly to reinsurers.
According to him,lack of innovation, inconsistent government policies, and insufficient cooperation within the industry.
These issues,compounded by poor governance and weak regulatory oversight stemming from obsolete laws, have contributed significantly to the collapse of many financial institutions, especially microfinance banks,Gumi observed.
He emphasized the industry’s challenges, including the lack of effective collaboration with the Central Bank of Nigeria (CBN) and the Asset Management Corporation of Nigeria (AMCON) to ensure financial stability in the Nigerian economy.
He said the cumbersome processes involved in resolving institutional failures and reimbursing depositors, which further complicate the sector’s growth.
He said: “The House is deeply concerned about the lack of transparency and accountability in Nigeria’s insurance practices. This has led to over ₦30 billion in unsettled claims for group life insurance policies covering the Nigeria Police Force, the Office of the Head of the Civil Service (for federal civil servants), and the Ministry of Defence (for the Nigerian Armed Forces). These unresolved claims can be attributed to the absence of actuarial valuations, failure to conduct gap analyses, and non-compliance with key legislative provisions, including Section 57 of the Insurance Act, 2023, and Section 4, Subsection 5 of the Pension Reform Act, 2014, among other factors.”
“We are aware that over $1bn that should have been retained in Nigeria if all insurance practitioners are given the option of the right of first refusal (insurance being more about risk bearing and sharing) is being taken abroad, which affects the nation’s economy, thereby always weakening our insurance sector and depleting our foreign reserve.
“These breaches and infractions have given rise to excessive cession and retrocession of businesses in breach of the Local Content Act to the extent that 90 per cent of the risks of some Federal Government organisations are placed outside the country.”
He noted that this development has causes untold hardship for millions of families of deceased Federal Government personnel, who are the rightful beneficiaries. “These families have been left to suffer because they have not received the entitlements of their breadwinners,” he said.
He added: “In instances where payments are made, unauthorized deductions are often imposed, thereby shortchanging the beneficiaries.”
He expressed concern that letters from the House Committee on Insurance and Actuarial Matters to Ministries, Departments, and Agencies (MDAs), including the Nigerian Ports Authority, the Nigerian National Petroleum Company Limited, and the National Emergency Management Agency, requesting relevant documents or inviting them to address these issues, are being treated with disregard.

 

Online Editor by — November 20, 2024 in Insurance&Pension 0
NNPC’s Utapate Crude Grade Enters Global Oil Market

         Mohammed Shosanya

 

The Nigerian National Petroleum Company Limited has unveiled its latest crude oil grade, the Utapate crude oil blend,before the international crude oil market.

 

 

 

 

Olufemi O. Soneye,Chief Corporate Communications Officer NNPC Ltd conveyed this in a statement.

 

 

 

The NNPC Ltd and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd,had in July, 2024 introduced the Utapate crude oil blend, following the lifting of first cargo of 950,000 barrels which headed for Spain.

 

 

At a ceremony held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market.

 

 

 

“Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told a packed audience of European crude oil marketers.

 

 

He added that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities.

 

 

 

He said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf of gas.

 

 

 

“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.

 

 

 

He said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects.

 

 

 

Also speaking,the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities.

 

 

 

He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted to optimise value for both its producers and counterparties across the globe.

 

 

 

He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries.

 

 

 

Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.

 

 

The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.

 

 

The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.

 

 

The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.

 

 

 

 

The entry of the Utapate crude oil blend into the market is coming barely a year after the NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).

 

 

This remarkable achievement signals the commitment of the NNPC Ltd to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets,the statement quoted.

 

 

 

Online Editor by — November 20, 2024 in Oil&Gas 0
Okpebholo Dissolves Governing Councils Of Edo Tertiary Institutions

        Mohammed Shosanya

 

 

Edo State Governor,Senator Monday Okpebholo has approved the dissolution of the Governing Councils of all state-owned tertiary institutions.

 

 

 

 

He also approved the disengagement of the Management Staff of Edo Specialist Hospital and Stella Obasanjo Hospital, Benin City with immediate effect.

 

 

 

 

Both approvals were conveyed in a  special announcement dated November 20, 2024 and signed by the Secretary to the State Government, Umar Musa Ikhilor, Esq.

 

 

It said:“It is hereby announced for the information of the General Public that the Governor of Edo State, His Excellency, Senator Monday Okpebholo has approved the dissolution of the Governing Councils of all State owned Tertiary Institutions in Edo State with immediate effect.

 

 

“Accordingly, all affected members of the Governing Councils of all State owned Tertiary Institutions are to handover all Government properties in their possession to their respective Heads of the Institutions.

 

 

 

“It is hereby announced for the information of the general public that the Governor of Edo State, His Excellency, Senator Monday Okpebholo has approved the disengagement of the Management Staff of Edo Specialist Hospital and Stella Obasanjo Hospital, Benin City with immediate effect.

 

 

 

“In view of the above, the Management Staff of the aforementioned hospitals are to handover all Government properties in their possession to the most senior officer in their various Institutions”

 

 

 

 

Online Editor by — November 20, 2024 in News 0
Ondo Guber:Ajayi Sues Aiyedatiwa,Deputy Over Qualifications

      Mohammed Shosanya

 

 

The candidate of the Peoples Democratic Party(PDP), in the last governorship election in Ondo State,Agboola Ajayi,has sued the APC governorship candidate, Lucky Aiyedatiwa, and his deputy, Olayide Adelami.

 

 

In the suit filed before the Federal High Court sitting in Akure, Agboola challenged  the qualification of the duo to participate in the just concluded poll.

 

 

Ajayi had, through his attorney, M. Ndoka SAN, challenged the eligibility of Adelami to contest as the Deputy Governorship candidate of APC.

 

 

He is also praying the court to disqualify APC from the ballot.

 

 

 

In the originating summons,the PDP candidate, Ajayi, said the first defendant (Adelami) is known by multiple conflicting and irreconcilable names of Adelami Owolabi Jackson and Olaide Owolabi Adelami.

 

 

Ajayi prayed the court to disqualify the APC deputy governorship candidate, Adelami, and the governorship candidate, Aiyedatiwa.

 

 

 

He also prayed the court :”That the first defendant,(Adelami) is constitutionally disqualified from contesting the election as Deputy Governorship candidate of APC.”

 

 

 

He  also sought “A declaration that the APC has no validly nominated Governorship and Deputy Governorship candidate for the 2024 election.”

 

 

 

The applicant,who came second in the November 16 governorship election in the state, asked for an order disqualifying the defendants from participating in the election and order and restraining the Independent National Electoral Commission(INEC) from publishing their names or allowing them to participate in the election.

 

 

 

The counsel of the first defendant(Adelami), Dr. Remi Olatubora told the court that the West African Examination Council (WAEC) result of his client has the name Adelami Owolabi Jackson in 1974 and that a degree certificate from Ambrose Ali University issued in 1982 has the name Adelami Olaide Owolabi.

 

 

 

He further explained that the grievance of the plaintiffs is not about discrepancies in the name but rather the order or arrangements of the names.

 

 

 

 

He  told the court that the plaintiffs have no right to file the suit in accordance with section 29(5) of the Electoral Act 2022 because they are neither members of All Progressives Congress(APC) nor participated in the governorship primaries that produced Adelami and Aiyedatiwa as deputy governorship and governorship candidates of the party respectively.

 

 

 

Olatubora said: “The plaintiffs lack the locus standi to file the suit or seek the reliefs set out in the originating summons.That the suit as a matter of law does not qualify as a pre-election matter, and this court lacks jurisdiction.”

 

 

He added that the suit is incompetent having been commenced by originating summon instead of a writ of summons as the suit is based on the allegation of fraud.

 

 

 

Justice DD Adegoke fixed judgment on the suit for a later date.

 

 

The applicant was represented in court by M. Ndoka SAN,while the first defendant(Adelami) was represented by Dr. Remi Olatubora SAN and Idris Abubakar SAN.

 

 

 

Governor Aiyedatiwa (the second defendant) was represented by Mr. Tayo Oyetibo SAN, while All Progressives Congress (APC) was represented by Mr. Ebun-Olu Adegboruwa SAN.

 

 

 

 

Online Editor by — November 20, 2024 in Politics 0
Tinubu Sacks Nmandi Azikwe Varsity Council,VC

        Mohammed Shosanya

 

President Bola Ahmed Tinubu has approved the dissolution of the Governing Council of the Nnamdi Azikiwe University in Awka, Anambra State, and the removal of Prof. Bernard Ifeanyi Odoh, the new Vice Chancellor, and Mrs. Rosemary Ifoema Nwokike, the registrar.

 

 

 

The council, led by Ambassador Greg Ozumba Mbadiwe, included five other members: Hafiz Oladejo, Augustine Onyedebelu, and Engr. Amioleran Osahon, and Rtd. Gen. Funsho Oyeneyin.

 

 

The sacking of the governing council and officials followed reports that the council illegally appointed an unqualified vice-chancellor without following due process,Bayo Onanuga,Special Adviser to the President (Information & Strategy),said in a statement on Wednesday.

 

 

 

After the controversial appointment, the Federal Government stepped in to address tensions between the university’s Senate and the governing council of the 33-year-old institution, the statement said.

 

 

 

The government expressed concern over the council’s apparent disregard for the university’s governing laws in its selection process.

 

 

Besides the statement quoted that President Tinubu has also approved the removal of Engr. Ohieku Muhammed Salami as the Pro-chancellor and Chairman of the governing council of the Federal University of Health Sciences in Otukpo, Benue State.

 

 

The decision followed Salami’s illegal actions, including suspending the Vice-Chancellor without following the prescribed procedures.

 

 

Despite the Federal Ministry of Education’s call for the unlawful suspension to be revoked, Engr. Salami refused to comply. Instead, he resorted to abusive and threatening behaviour towards the Ministry’s Directors, including the Permanent Secretary.

 

 

The Federal Government reiterated that the primary responsibility of university councils is to ensure the smooth operation of university activities in accordance with the act establishing each university.

 

 

 

President Tinubu warned the councils not to create distractions in their universities as his government is focused on improving the country’s education standards,the statement added.

 

 

 

 

 

Online Editor by — November 20, 2024 in Education 0
Asharami Synergy Unveils New Retail Station In Rivers

 

  Mohammed Shosanya

 

 

Asharami Synergy Limited,a Sahara Group downstream company, has commissioned a new retail station in Omagwa, Rivers State, in line with its commitment to driving access to quality petroleum products.

 

 

 

Situated strategically along the Airport Road in Omagwa, the station, which features a storage capacity of 45,000 litres each for Automotive Gas Oil (AGO, also known as diesel) and Premium Motor Spirit (PMS, also known as petrol) is equipped with two pumps and four discharge nozzles for PMS and AGO.

 

 

 

According to a statement,the facility also has ample space for sundry services in a bid to ensure consumers get more “miles and smiles” as well as the energy to “go further” with Asharami’s world-class products.

 

 

 

“The Asharami Omagwa Retail Station is fully operational, offering a range of premium products and services. It’s a one-stop shop that also gives our esteemed customers eat-in and take-out restaurant services, shopping, as well as the Asha lubricants and Asha Service experience which will ensure premium care for all classes of automobiles and engines,” said Oladimeji Williams, Head, Government Relations and Business Development at Asharami Synergy.

 

 

 

At the commissioning,Willaims said the new station represents an important step in Asharami Synergy’s expansion plan aimed at reaching and serving more communities responsibly. “This station is strategically positioned close to the airport, serving as the gateway for powering socio-economic development in the community and those close to it, while enabling Asharami Synergy to integrate all aspects of its downstream business towards ensuring efficiency and value for our customers,” he stated.

 

 

 

Williams commended the Federal Airport Authority of Nigeria (FAAN) and the Omagwa community leaders for their support and collaboration throughout the project’s duration, describing it as a “seamless and productive process that highlights Asharami’s corporate stewardship and social impact” in the community.

 

 

 

Also speaking at the event, Mrs. Ifesinachi Ezike, Regional General Manager (South South), FAAN, emphasized the broader significance of the new station, stating, “This occasion marks a significant milestone not just for Asharami Synergy but for the airport and the entire community. It marks not just an opening of a new facility but the beginning of a renewed commitment to enhancing the travel experience of all our passengers and stakeholders”.

 

 

 

In a move that underscores its commitment to sustainability and community development, Asharami Synergy also commissioned a solar-powered borehole during the launch.

 

 

 

The borehole is set to improve access to clean and reliable water for residents, marking a tangible contribution to the local community.

 

 

 

“At Sahara, we are always making a difference—not just through our business operations; we are unwavering in our commitment to driving sustainable development and building partnerships that enhance the well-being of our host communities,” Williams added.

 

 

 

 

Online Editor by — November 20, 2024 in Oil&Gas 0