Business News
Adesina says Nigeria will stop importing fuel by 2019
Published
3 years agoon
By
Chris Pemu
Nigeria will stop importation and exportation of petroleum products by 2019. Special Adviser to the President on Media and Publicity, Femi Adesina made this disclosure while speaking on a television programme.
The presidential spokesman said that importation and exportation of fuel has a high effect on the lingering fuel crisis because the country does not produce the product locally and the refineries do not work, which makes room for little hitches in the inflow.
“When you import fuel and do not produce fuel locally or the refineries do not work once in a while fuel scarcity should be expected, as long as you have those variables not under your total control you can’t rule that out.
Adesina explained that the Minister of State For Petroleum Resources, Dr Ibe Kachukwu, has drawn a timetable leading to 2019, noting that part of the plan is that Nigeria will stop importing but exporting.
Concerning the unemployment rate in the country which the National Bureau of Statics recently released a data saying that unemployment has increased in the 3rd quarter of 2017, Mr Adesina said that there is an increase agricultural sector especially rice farming, mining and solid minerals.
He further explained that shortly after the Buhari-led administration came into power the country entered into recession and oil prices went down but within a year the country came out of recession, he added that as the economy starts to settle gradually jobs that were lost will be regained.
How this might work
If the Federal Government focus on the total overhaul its four existing refineries with a combined installed capacity of 445,000 bpd there would be an impressive improvement in local production of petroleum products in the country.
The Dangote Angle
With the expectation of the completion of the Dangote Refinery in 2019, it will be playing a big part of Nigeria’s petroleum plans as it is expected to produce a significant role in satisfying domestic demand for petroleum products. The Dangote refinery is expected to produce 650,000 barrels per day for supplies.
Christopher B. Pemu has a degree in Political Science from the University of Lagos. He joined Nairametrics in 2014 as News Editor and later as Managing Editor. He currently serves as the General Manager of Nairametrics.He takes pleasure in traveling, enjoys world politics and in sport, he loves watching football and tennis.


Tech News
Netflix competes with TikTok, launches rival product
Netflix has launched a new feature that will allow users to watch, react,r share short clips and more.
Published
11 hours agoon
March 4, 2021
Netflix, the world’s leading video streaming platform has launched a new feature called “Fast Laughs” that will allow users to watch, react or share short clips as well as add the show or movie to a Netflix watchlist or you can simply tap the “Play” button to start watching the show immediately.
Similar to Tiktok or Instagram’s Reel, Fast Laughs features full-screen videos that you can swipe through vertically, and places the engagement buttons on the right side of the screen. These buttons let you react to the clip with a “LOL” (crying/laughing) emoji or share it via iMessage or other social media apps, like WhatsApp, Instagram, Snapchat, or Twitter. The only difference is that there is no comment button yet.
Users can access the feed through the bottom navigation menu by clicking on the Fast Laughs tab. The clips will start playing automatically when one ends another begins.
The feature will include a full-screen feed of funny clips from Netflix’s big comedy catalog including films like “Murder Mystery”, series like “Big Mouth’’, sitcoms like the ‘Crew’’ and stand-up from comedians like Kevin Hart and Ali Wong.
Fast laugh is currently available for iPhone users in select countries, and Netflix will be testing on Android soon.
Business News
Apapa gridlock: Sanwo-Olu explains how his administration solved the problem
The Governor said the electronic Call-Up was designed to permanently address the movement of trailers in and out of the ports.

Published
11 hours agoon
March 4, 2021
The Lagos State Governor, Babajide Sanwo-Olu, has explained how his administration in partnership with the Nigerian Ports Authority (NPA) and other stakeholders in the maritime sector was able to get the heavy articulated vehicles off the road around the Apapa axis and improve traffic along that corridor.
This is as the governor has warned that the state government would resist any attempt by individuals and maritime operators that may want to reverse the progress being recorded along the Apapa corridor.
This disclosure was made by Sanwo-Olu on Wednesday while speaking at the formal hand over of newly improved 3 traffic-prone junctions along the Lekk-Epe expressway.
The Governor said the electronic Call-Up System launched, last Saturday, in the Apapa seaports was designed to permanently address the movement of trailers in and out of the ports, and bring about traffic improvement along the corridor.
What Governor Babajide Sanwo-Olu is saying
While sharing the details, the Governor described the progress recorded in Apapa as a hard-won, disclosing that it took the State Government over a year to bring together all stakeholders on the discussion table to agree on a far-reaching approach to permanently address the problem.
Sanwo-Olu said, “What we are seeing is the beginning of the lasting solution we have brought to Apapa. Our appeal is that we are not out of the problem completely yet. Our citizens can now see that a journey that took them three hours can, indeed, take between 15 and 20 minutes to commute. Everyone can now see that when we work together, indeed we can solve our problems internally.
“We have taken some troublesome people that are benefiting from the gridlock out of the way. Whatever they were earning illegally has been taken away from them. We know they will want to make an attempt to fight back. We will not stop at anything to ensure that anybody that tries to retract the progress or wants to take us back to gridlock in Apapa will be fought against. We will bring out their names and shame them.”
The Governor vowed that any corporate organisation, security operative, NPA or State Government official who attempts to circumvent the newly instituted traffic procedures around the Apapa seaports would be named and shamed publicly.
The Governor said the State was serious about bringing a lasting solution to the Apapa congestion, stressing that the Government could no longer condone the careless attitude of truckers clogging the highways with heavy-duty vehicles.
He said part of the State’s efforts was to approach the Federal Government for the unbundling of the inefficient Presidential Taskforce on Apapa gridlock and took over the traffic management in the area.
Sanwo-Olu added that State Government also met with stakeholders, including the Federal Ministry of Transportation, Maritime operators and seaports unions.
He said: “I commend NPA’s Managing Director and management for working with us on this agenda. My appeal is to other stakeholders in the maritime sector who have not signed up on the electronic Call-Up System we have embarked on. I call the big logistics companies, including Sifax, Dangote, Flour Mills, Tunde Folawiyo and others, to come and collaborate with us on this progress.
“Let us have a system that our citizens will be proud of. We will stop at nothing to sustain the progress achieved. Our team will be working round the clock to keep the system working. This is one of our modest efforts to deliver what we promised in solving traffic and transportation challenges. We will not relent in doing anything required to ensure traffic improvement in Apapa.”
What you should know
- Following the withdrawal of the Presidential Task Force on port congestion, the Lagos State Governor, Babajide Sanwo-Olu, set up a Special Traffic Management Team to resolve the traffic gridlock in and around the Apapa corridor.
- The Electronic Truck call-up system, Eto, which was designed and launched by NPA for the management of truck movement and access to and from the Lagos ports and to end the gridlock in and around the ports, formally took off last weekend.
- During the implementation of the new system, all trucks doing business at the ports will be required to park at the approved truck parks until they are called up into the port through the Eto app.
ATTEMPTS TO BRING BACK GRIDLOCKS ON APAPA CORRIDOR WILL BE RESISTED, SANWO-OLU VOWS
•Threatens To Publish Names of Uncooperative Stakeholders
•Governor Hands Over Three Improved Junctions, Ogombo Drainage In Eti Osa@jidesanwoolu#LASG
More.. https://t.co/3ymNJHJFDz pic.twitter.com/luC8xgDoRj— The Lagos State Govt (@followlasg) March 3, 2021
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