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Business News

NLC, SERAP disagree over Dangote refinery

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The Nigeria Labour Congress (NLC) has berated the Federal Government over the fuel scarcity in the country, saying government’s energy policy was defective.

The NLC, which spoke through its Secretary-General, Dr. Peter Ozo-Eson, warned the Federal Government against allowing Dangote Group to monopolise the oil refinery sector.

According to Ozo-Eson, the Dangote Group currently monopolises the cement sector. He said that such must not be allowed to happen in the oil refinery sector.

The NLC Secretary-General blamed the Federal Government for the current fuel scarcity in the country.

He said the Federal Government failed to pursue a comprehensive policy that could improve local crude oil refining capacity and that the government was pursuing a wrong policy in the energy sector.

Ozo-Eson stated that the Federal Government did not think its energy policy through, noting that the country would continue to have energy crisis anytime there was a rise in the international prices of crude oil and fluctuations in the exchange rate.

Ozo-Eson explained that every member of the Organisation of Petroleum Exporting Countries had refineries.

 He noted that the government would be failing in its responsibility if it allowed multi-billionaire businessman, Alhaji Aliko Dangote, to have monopoly in the downstream sector.

He said, “A monopoly in the oil refinery sector will kill Nigerians; a recent survey showed that prices of cement in Nigeria are the most expensive anywhere in the world.”

However while reacting to the NLC statement, the Socio-Economic Rights and Accountability Project (SERAP)  criticised the NLC for its warning about impending monopoly in the oil refinery sector.

The SERAP Director, Adetokunbo Mumuni, said,

“I don’t think the NLC is serious. About 18 licences were issued to people to construct refineries more than two years ago and those who were given the licences failed to commence any work. So, it is not a question of Dangote monopolising the sector, it is a question of who has the wherewithal and commitment to commence work?

“Let the NLC suggest other people that have shown their wherewithal to also construct refineries. The Goodluck Jonathan-led administration issued licences to 18 companies but no one has yet to build. Let the NLC do its work properly and stop giving Nigerians the wrong information. This is the way I see it.” He said.

The Dangote refinery upon completion in 2019 will be the single largest refinery in the world. With an annual refining capacity of 10.4 million tonnes (Mt) of gasoline, in addition to 4.6Mt of diesel and 4Mt of jet fuel.

It will also produce 0.69Mt of polypropylene, 0.24Mt of propane, 32,000t of sulphur and 0.5Mt of carbon black feed.

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Granting of license for private refineries to private investors has not yielded any result this is why the Buhari-led administration has vowed to encourage the construction of modular refineries. The administration also promised to end importation of petroleum products into the country by 2019. How this plays out, time will tell.

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Modular mini refineries may be in units from 4000 to 30,000barrel per day (bpd)  though some are as low as 1000 bpd capacity. Lubricating oil, waxes and asphalt may not be produced in a modular mini refinery

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Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via [email protected]

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.

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Netflix users increase by 16 million in Q1 2020

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.

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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.

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Lagos, Sanwo-Olu, Businesses that must remain closed after May 4

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.”

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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.

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