Business
NNPCL Privatises Pipelines Rehabilitation … Builds PH Refinery Storage
The Nigerian National Petroleum Company Limited (NNPCL) says it has constructed a 150 million litres storage facility for the Port Harcourt Refining Company ahead of full operations of the plants.
It said the storage facility was constructed in Atlas Cove, adding that the company had signed Build, Operate and Transfer agreements for the rehabilitation of pipelines and storage facilities nationwide.
The Atlas Cove Jetty is a major installation of NNPCL for receipt and distribution of petroleum products to the western part of Nigeria and is located within the precincts of Tarkwa Bay in Lagos State.
The national oil company further revealed in a documentary made available to The Tide’s source that its retail arm distributed about 14 billion litres of white products in 2023.
White products include Premium Motor Spirit, popularly called petrol; Automotive Gas Oil or diesel; and Dual Purpose Kerosene, otherwise referred to as Kerosene.
It further stated that an aviation arm had been created that would supply fuel to three international carriers, adding that more airlines would be served in due course.
Outlining its strides in the downstream sector in 2023, the company stated that “the directorate overseeing trading, shipping, refining and retail witnessed extraordinary achievements”.
It added that from concluding crude oil swap arrangements to achieving mechanical completion of the Port Harcourt refinery, NNPC Ltd’s downstream sector marked 2023 with triumphs.
The firm said, “A major breakthrough unfolded with the mechanical completion of the Port Harcourt refinery. As operations gradually pick up, efforts are on the way to ensure that the new Port Port Harcourt refinery, Kaduna and Warri refineries follow suit”.
It stated that key infrastructures were being put in place ahead of full operations of the Port Harcourt refinery.
“Ahead of full operations, NNPC Ltd has put in place 150 million litres fully automated storage capacity at Atlas Cove. NNPC Ltd also inked Build, Operate and Transfer agreements for the rehabilitation of pipelines and storage facilities across Nigeria”, the company stated.
In the documentary, the Managing Director, Port Harcourt refinery, Ibrahim Onoja, said, “The rehabilitation is so structured. It is based on a very firm foundation that we knew from the beginning that it will deliver. We started this process by setting up a governance process to ensure that the rehabilitation is a success”.
On December 21, 2023, the Federal Government announced the mechanical completion of rehabilitation work on the Area-5 Plant of the Port Harcourt Refining Company in Rivers State.
It stated at the time that the first phase of the plant had been completed, as the facility would start refining 60,000 barrels of crude oil daily after the 2023 Christmas break.
The Port Harcourt Refinery, situated in Nigeria’s oil-rich Niger Delta region, has been in operation since 1965. The Alesa Eleme refinery complex is situated in Rivers State, Nigeria, approximately 25km east of Port Harcourt.
The Federal Government approved a $1.5bn budget for the renovation and modernisation of the refinery complex in March 2021.
The NNPCL, early this month, stated that it had commenced the supply of crude oil to the Port Harcourt refinery to test-run it, as it also stated that it was seeking to engage reputable and credible operations and maintenance companies to operate and maintain the plant.
Meanwhile, in its documentary on Wednesday, the NNPCL stated that its downstream retail arm distributed 14 billion litres of fuel last year, adding that the company was making inroads into the supply of aviation fuel.
“Powering its way through, NNPC Ltd’s Retail arm, with the largest network in Nigeria, distributed over 14 billion litres of white products in 2023. Its 900 retail outlets played a pivotal role in achieving this feat”, the oil company stated.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter