Business
Oil Marketers Sack Workers Over N650bn FG’s Debt
Oil marketers have commenced a reduction of their workforce due to their inability to pay staff salaries.
Some of the marketers, who preferred anonymity, confirmed to reporters on Wednesday in Lagos that they resorted to adopt a massive sack of their workers as the Federal Government had yet to pay an outstanding N650 billion debts owed them.
They said they did not have any other option to control their increasing debt burden of borrowing to pay salaries than to embark on staff disengagement.
According to them, the majority of marketers are indebted to banks because for funds they borrowed to pay workers’ salaries.
“Retrenchment became necessary as some marketers have already closed their depots, while others have also reduced workers’ salaries by 75 per cent due to their inability to sustain the payments.
“It is a difficult time for the oil marketers because we are currently facing the headwinds in the oil market.
“Some of our members are finding it difficult to pay salaries and other overhead costs,’’ one of the marketers said.
They, therefore, urged the federal government to expedite action on the payment of outstanding debts owed to marketers, in order to help them to sustain their businesses.
Another source said the marketers were under continuous pressure from their banks and the Asset Management Corporation of Nigeria (AMCON), “with looming threats of imminent take-over of our petrol stations and tank farms.
“In the light of the above and after exhausting all formal avenues to secure payment of these debts, we have notified the federal government of the likelihood of disengaging our personnel.
“We are told that President Muhammadu Buhari has signed for the payment of the debt but it is yet to get to the National Assembly for their consent.
“We hope this will be addressed to salvage the situation’’.
It would be recalled that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) on Feb. 20 gave the government a 14-day ultimatum to settle the N650 billion debts owed to its members.
The Executive Secretary of the Association, Mr Olufemi Adewole, had said failure to meet the deadline would compel marketers to disengage their workers.
Adewole alleged that a letter was written to the Presidency on Jan. 24 but the government had failed to respond to the plight of the petroleum marketers.
Business
NIGCOMSAT Seeks Policy To Harness AI Potentials
The Nigerian Communications Satellite Limited (NIGCOMSAT), the country’s satellite operator, has called for immediate promolgation of policy action that will enable the country to harness the potentials of Artificial Intelligence (AI).
NIGCOMSAT, also warned that Nigeria risks missing out on Africa’s projected $1.2trillion share of the global AI economy by 2030.
Managing Director of NIGCOMSAT, Nkechi Egerton-Idehen, disclosed this in a statement issued at the weekend following her participation in the Meeting of the National Council for Communications, Innovation, and Digital Economy.
“Artificial intelligence is reshaping industries, economies, and societies worldwide, with projections that it will contribute up to $15.7trillion to the global economy by 2030. Africa stands to gain $1.2trillion of this if the right policies and innovations are in place”, Idehen said, citing a PricewaterhouseCoopers report.
The NIGCOMSAT MD underscored the transformative potential of AI in agriculture, highlighting its applicability in Benue State, widely regarded as Nigeria’s “food basket.”
According to her, machine learning tools could revolutionize agricultural practices by improving pest detection and optimizing planting schedules using satellite imagery.
“AI offers us the chance to not only flourish economically but also to achieve food security. However, we must ask ourselves if we are prepared to manage this technology responsibly”, she added.
Idehen also noted that internet access remains a significant barrier to AI adoption in Nigeria.
“For AI tools to be effective, basic digital infrastructure is essential. Addressing this gap must be a priority.
“AI is happening. We have the opportunity to manage this technology revolution responsibly, both in Africa and globally, through innovation and governance”, she said.
In August 2024, the Federal Ministry of Communications, Innovation, and Digital Economy released a draft National Artificial Intelligence Strategy, aiming to position Nigeria as a global leader in AI.
Corlins Walter
Business
We Have Spent N1bn On Electrification -LG Boss
The Chairman of Emohua Local Government Council, Chief David Omereji, has said the council has so far spent over N1 billion for the electrification of communities in the area.
Omereji said this while addressing staff of the council at the council headquarters recently.
He said the move was part of his administration’s resolve to ensure peace and development of the LGA.
According to him, the Council spent about N29 million on monthly basis for the maintenance of the Emohua Local Vigilante group known as OSPAC, with each member being paid a stipend of N100, 000 monthly.
He diaclosed that 11 out of the 14 wards are currently enjoying electricity, while efforts are on to light-up the remaining ones.
“I also want to use this opportunity to inform the political class for purposes of records and for the understanding of the people that the Council under my watch have done more than enough”, he said .
The Emolga boss explained that all that have been achieved were through the personal effort of the Council, without support from anybody as rumoured in some quarters.
Omereji further reaveled that a number of other projects, including roads, fencing of schools, hospitals, courts premises, and reconstruction of some abandoned buildings at the Council Headquarters are being undertaken by his administration.
He enjoined the people of the area to support his administration’s drive to bring purposeful development to the LGA.
The Emohua Council boss, who reiterated his hatred for noise making, stated that his works would speak for him, and solicited the support of staff of the council and the entire people of the area.
He noted the fact that some people may not be happy with his achievements, saying that he would remain focused, while advising critics of his government to do so constructively with facts and figures.
King Onunwor
Business
Ogoni Rejects NNPC-Sahara OML11 Deal … Wants FG’s Intervention
The Movement for the Survival of the Ogoni People (MOSOP) has raised some ethical questions over a Financial and Technical Services Agreement (FTSA) between Sahara Energy and West African Gas Limited (WAGL), an affiliate of the Nigerian National Petroleum Company (NNPC).
MOSOP said the agreement was not done in good faith, not in the interest of the Nigerian people, and did not follow due process.
Foremost Ogoni born activist and MOSOP leader, Fegalo Nsuke, who made this known in Abuja, weekend, described the Sahara-WAGL deal as fraudulent, deceptive and an insult on the intelligence and integrity of the Nigerian nation.
Nsuke called on President Bola Ahmed Tinubu to cancel that FTSA between Sahara Energy and WAGL, noting that the agreement is fraught with irregularities and deceptive.
“What Sahara and the NNPC did in the FTSA between Sahara and WAGL is shameful and depicts high level corruption in public service of our country.
“WAGL is an affiliate of Sahara and the NNPC. How then can Sahara go into an agreement with its own affiliate? It’s as good as going into an agreement with itself. This is deceptive and fraudulent”, Nsuke said.
He continued that “Sahara Energy is certainly not a company the Ogoni people want on their soil and we are calling on Mr. President, Bola Ahmed Tinubu, to terminate any deal between the NNPC and Sahara Energy over OML 11, and to allow for an inclusive arrangement that considers a fair treatment of the Ogoni people in the distribution of revenues from natural resource extraction on Ogoni soil.
“The last Ogoni Congress has been unequivocal on the Ogoni demand for justice and has given a clear path to resolve the three decade old conflict between all critical parties.
“It will be good to explore this path to peace and development for Ogoni and for our country”.
Nsuke accused Sahara Energy and the NNPC of frustrating the progress made by MOSOP to achieve a permanent solution to the Ogoni problem.
He urged a presidential intervention with deep consideration for a fair treatment of the Ogoni people in order to permanently address the problem.
He noted that Sahara Energy should give up on the Ogoni area to allow for an engagement in the interest of the country and the people.
Recall that MOSOP and Sagara Energy have recently been engaged in a row in what MOSOP describes as an unholy relationship between Sahara Energy and the NNPC over OML 11.
MOSOP expressly rejected Sahara Energy and called for a fair treatment of the Ogoni people in natural resource extraction in Ogoni.
It noted that Ogoni people, led by MOSOP, paid the sacrifice to take the oil from Shell, hence “the position of MOSOP must be taken into consideration in decisions relating to resumption of oil production in Ogoni”.
-
Sports3 days ago
MASGULF FC A PLACE TO HAVE FUN, KEEP FIT – PRESIDENT
-
Rivers3 days ago
Group Berates NLNG, PH Refinery over Marginalization Of Wakrike
-
Business2 days ago
NIGCOMSAT Seeks Policy To Harness AI Potentials
-
Sports3 days ago
NOVELTY MATCH: IKWERRE LAWYERS BEAT MEDICAL PRACTITIONERS 3-0
-
Niger Delta3 days ago
Stakeholders Caution Delta Over Propose Mangrove Forest Sale
-
Rivers2 days ago
Group Urges Consistency, Diligence In Nigerian Youths
-
Niger Delta3 days ago
NEMA Distributes Relief Materials To Flood Victims In A’Ibom
-
Sports3 days ago
President lauds CG, CDS for Training sponsorship