News

Wike Blames FG For Delay In N120bn Bonny-Bodo Road Completion

Published

4 years ago

September 13, 2021

Rivers State Governor, Chief Nyesom Wike, has blamed the delay in completion of the N120billion Bonny-Bodo Road on failure of the Federal Government to pay N60billion counterpart funding for the project.
He asserted that every fund expended so far on the Bonny-Bodo Road project had been provided by the Nigerian Liquefied Natural Gas Company Limited (NLNG).
Wike stated this at the send-off ceremony of former NLNG managing director, Tony Attah, which held at the company’s corporate headquarters in Port Harcourt, last Saturday night.
The governor, who was accompanied by the Governor of Edo State, Godwin Obaseki, maintained that since the N60billion counterpart fund for the 38-kilometre Bonny-Bodo Road would be paid from the federation account, it would be wrong for the Federal Government to continue to claim glory for the funding of the project with the NLNG.
“The Bonny-Bodo Road is not funded between the Federal Government and NLNG. I don’t agree. With due respect, it is funded between NLNG, all the states of the federation, and the Federal Government.”
The Rivers State governor noted that if the Federal Government was committed to the even development of all parts of the country, it ought to have provided the N60billion counterpart funding for the speedy completion of the Bonny-Bodo Road.
“If this nation is a country that all of us belong to and all of us mean well for ourselves, that is one project that ought to have been completed by now, because of the economic interest that will benefit all of us.”
He eulogised Attah for the convivial relationship the NLNG, under his watch, maintained with the government and people of Rivers State.
The governor said that Attah would be remembered for overseeing the commencement and completion of NLNG corporate headquarters’ building in Port Harcourt, and for ensuring that all fabrication works for the company’s $10billion Train 7 were done in Rivers State.
According to him, 7.5 per cent Value Added Tax (VAT) from the NLNG Train 7 project, would be used to transform the state.
Based on the convivial relationship Attah nurtured and sustained with the state government, the governor said it was also possible for all those working for the International Oil Companies (IOCs) to cultivate better relationship with state governments in the Niger Delta.
The governor remarked that by ensuring the speedy completion of the NLNG headquarters in Port Harcourt, Attah had proved that the claim of insecurity in the Niger Delta by IOCs was indefensible.
“IOCs will say there is insecurity in Port Harcourt, insecurity in Warri, insecurity in Bayelsa but there is no insecurity in taking the oil and gas.”
The governor declared that posterity would forever be kind to Attah for all his good deeds as the managing director of NLNG.
According to him, any government that was committed to the development of the country must engage technocrats like Attah.
“NLNG will never forget you (Attah). The Amanyanabo of Bonny will never forget you. Rivers State will not forget you. You have done very well. And I want to tell you by the powers conferred on me in the next award of the state; you are going to get the second highest honour as far as Rivers State is concerned.
“I want to thank you for what you have done for Rivers State. I want to thank you for what you have done for the people of the Niger Delta.”
The governor enjoined the new NLNG Managing Director, Dr. Philip Mshelbila, to emulate his predecessor, and sustain the existing cordial relationship with the state government.
He implored Mshelbila and the board of the NLNG to collaborate with the Rivers State Government to develop a vast reclaimed expanse of land opposite the NLNG corporate headquarters in Port Harcourt.
“Everybody should come back here. This is where it is happening. Philip, opposite you, we have sand-filled the area, provided infrastructure. Come and partner with us. Chairman (NLNG board, Edmund Daukoru, the Amanyanabo of Nembe), you are from Niger Delta, tell your people to come and get a place here. They should not be living in Lagos and flying in and putting the cost on your head. Let them come here. The safest place is here. Rivers State is very safe.”
The governor used the occasion to reaffirm Rivers State Government’s ownership of 45 per cent stake in OML 11, which was formerly operated by Shell Petroleum Development Company (SPDC).

News

Dangote Stops Petrol Sale In Naira, Gives Condition For Resumption

Published

4 days ago

March 21, 2025

The Tide

Nigerians may experience an increase in the prices of premium energy products diesel and petrol as the Dangote Petroleum Refinery temporarily halts the sale of petroleum products in Naira.
“This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in US dollars,” the company said in a statement yesterday.
The $20billion refinery based in Lagos said the sales of its products in Naira have exceeded the value of Naira-denominated crude it has received from the Nigerian National Petroleum Company Limited (NNPCL).
“As a result, we must temporarily adjust our sales currency to align with our crude procurement currency,” the company explained.
The refinery said it remained committed to serving the Nigerian market and would resume the sale of its product to the local market in Naira as soon as it received crude cargoes from the NNPCL in Naira.
“As soon as we receive an allocation of Naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in Naira,” it said.
The announcement by the refinery comes amid its price war with the NNPCL.
As part of moves to reduce the strain on the US dollars, and guarantee price stability of petroleum products, the Federal Executive Council (FEC) in July 2024, directed the NNPCL to sell crude oil to Dangote Refinery and other local refineries in naira and not in United States’ greenback.
In the beginning of March 2025, the NNPCL said its Naira-denominated crude sales agreement with the Dangote Refinery was structured for six months with March 2025 as the expiration date.
The state company, however, said that talks were on to replace the contract, and that over 48 million barrels of crude oil have been made available to Dangote Refinery since October 2024 under the Naira-denominated arrangement.
The NNPCL also said it had made over 84 million barrels of crude oil available to the private refinery since it commenced operations in 2023.
Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational for decades until 2024. The country was heavily reliant on imported refined petroleum products, with the state-run NNPCL being the major importer of the essential commodities.
Fuel queues are commonplace in the country. Prices of petrol more than quadrupled since the removal of subsidy in May 2023 by President Bola Tinubu, from around ¦ 200/litre to about ¦ 1,000/litre, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.
Last December, the billionaire industrialist commenced operations at the facility situated in Lagos with 350,000 barrels a day. The refinery, which was initially bogged by regulatory battles, hopes to achieve its full capacity of 650,000 barrels per day by the end of the year. The refinery has begun the supply of diesel and aviation fuel to marketers in the country and now petrol.

News

Aruna Displaces Assar As Africa’s Top-Ranked Star

Published

4 days ago

March 21, 2025

The Tide

Nigeria’s Quadri Aruna has overtaken Egypt’s Omar Assar to become Africa’s highest-ranked player in the world, now sitting at 18th in the week 12 ranking released on Tuesday.
Aruna moved up from 19th place in week 11 to 18th in the latest ranking, while Assar dropped from 17th to 19th.
Denmark’s Jonathan Groth took over Assar’s 17th place, moving up from 18th.
Despite finishing as runner-up at the 2025 ITTF Africa Cup, Aruna’s impressive performances at the WTT tournaments this year have boosted his ranking.
Aruna remains the only African male player to have reached the semi-finals of the WTT Contender Doha, repeating his 2023 feat earlier this year in January.
This achievement has propelled him ahead of Assar, who beat him to become the champion of the 2025 ITTF Africa Cup.
Aruna’s next tournament is the WTT Contender Chennai which serves off in India from March 23 to 20.
In the women’s singles, Egypt’s Hana Goda maintained her top spot in Africa, moving up one place to 26th in the week 12 ITTF ranking. Her compatriot, Dina Meshref, remained static at 33rd, holding her position as the second-best-ranked female player in Africa.
China’s Wang Chuqin retained his position as the second-best player globally, behind his compatriot Lin Shidong, who continues to hold the top spot. Japanese superstar Tomokazu Harimoto dethroned China’s Liang Jingkun as the third-best player in the world after his semifinal finish in Chongqing.
In the women’s ranking, the top five remained unchanged, with China’s Sun Yingsha holding onto her top spot after retaining her WTT Champions Chongqing title.

News

NSPRI Empowers Agri-preneurs For Independence, Postharvest Loss Reduction

Published

4 days ago

March 21, 2025

The Tide

The Nigerian Stored Products Research Institute (NSPRI) has empowered agri-preneurs with skills to be self-independent and reduce post-harvest losses.

The two-day training was held recently at its Lagos Zonal office on Barikisu Iyede Street, Yaba, Lagos, and centered around post-harvest management, particularly focusing on how to add value to agricultural products such as grains, roots, and tubers.

With a hands-on approach making up a whopping 90 percent of the training, participants got their hands dirty, learning to create value-added products such as bean flour, ground rice, odourless fufu, poundo yam, and flavoured pap.

The training also delved into essential post-harvest management practices and highlighted the importance of packaging in enhancing the value of agricultural goods.

Rounding off the programme, participants were conducted round the NSPRI facility, where participants had the chance to discover even more post-harvest solutions beyond what was covered in the training.

The diverse group of attendees, representing various ages and genders, participated both in person and online.

In his closing remarks, the Executive Director of NSPRI, represented by the Zonal Coordinator, Dr. Shuaeeb Oyewole, expressed heartfelt thanks to the trainees.

He stressed that the skills and knowledge gained during the training could significantly help in reducing agricultural losses, creating job opportunities, and fighting poverty.

He also encouraged everyone to become advocates for post-harvest loss reduction in their communities.

Participants, including Mrs. Olayinka Immanuel, and Mrs. Olubunmi Afolabi, who joined virtually from the United States and Osogbo, Osun State, respectively, expressed gratitude for the training.

Mr. Christopher, a returning participant, commended the training for its focus on practical skills and expressed his eagerness for future sessions.

Everyone left with a commitment to use what they learned to tackle post-harvest losses head-on and to foster entrepreneurship, ultimately contributing to job creation and wealth generation in their communities.