Business News
Six Modular Refineries billed to commence operation, FG says
Six modular refineries have been granted licenses to operate, following the decision of the FG to prioritize the growth of local content.
Six modular refineries have been granted licenses to operate, following the decision of the Federal Government to prioritize the growth of local content in the Niger Delta.
The Details: This was made public by the Senior Special Assistant to the President on Niger Delta Affairs, Mr Edobor Iyamu at a dialogue in the Niger Delta Region. He reiterated President Muhammadu Buhari’s decision to ensure that the Niger Delta benefits from oil exploration in the area.
“The Federal Government had kept its word by ensuring that the refineries were not only given licenses but also encouraged to begin production. The present Federal Government has put conducive environment for investors to open modular refineries in the country,” he said.
[READ MORE: Refinery project: Dangote expects $30 billion group revenue]
Iyamu made a case for the government, noting that 35 modular licenses were issued in the past but nothing was done about it. He argued that the issue of modular refineries was not a fluke and would be utilized adequately this time.
‘So, today as I said we have six modular refineries, and I have been there myself not talking about things I read or saw from newspapers. I went there physically to inspect the modular refineries,” Iyamu added.
Reacting to the development, Ukoha Ukiwo, member of the Nigeria Extractive Industries and Transparent Initiative Expert Advisory Panel pleaded for trust on the part of the government, oil companies and the communities for the refineries to work. He said it would be beneficial for all stakeholders if a better framework was crafted to bring more benefits to the region.
However, Programme Coordinator of the Nigeria Natural Resources Charter, Miss Tengi George-Ikoli stood on the part of accountability, advising the people to hold government accountable for how the oil and gas resources are managed to ensure that communities enjoy benefits from the resources.
[READ ALSO: Full refinery rehabilitation to start by next January- NNPC GMD]
Recall that in 2018, NNPC approved licenses for 13 modular refineries. According to the then Group Managing Director of the corporation, Dr. Maikanti Baru, 35 expressions of interest for the establishment of modular refineries were declared but only 13 were issued licenses by the Department of Petroleum Resources (DPR).
Energy
Nigeria to fix irregular power supply in 40 years- Senate
The four decades is needed due to underfunding and the FG’s failure to fix the challenges of electricity generation.
The Nigerian Senate has said that it will take Nigeria 40 years to fix irregular power supply.
This was disclosed by the Senate Committee on Power on Tuesday after the Minister of Power and his team made a presentation to the Committee, according to Guardian.
The four decades wait, according to the lawmakers, is due to underfunding and the Federal Government’s failure to fix the challenges of electricity generation.
The committee was astonished by the submission of the Minister of Power, Mamman Saleh, that of the N165billion required for capital projects in 2020, N4billion was given as bribe of which only N3billion was cash-backed.
In lieu of this, the Committee dismissed claims made by the minister over raising hope on early provision of constant power supply, while Managing Director of the Transmission Company of Nigeria (TCN), Sule Ahmed Abdulaziz, painted a gloomy picture during the ministry’s budget defense.
A member of the Committee, Danjuma Goje, expressed concern that based on Abdulaziz’s presentation, N165billion was proposed, but the ministry gave N4billion in envelope, insisting that it would take 41 years to deliver constant electricity when N165billion is divided by N4billion.
Backstory
Recall that Nairametrics had earlier reported that it will take nothing less than $100 billion to enable stable power supply in Nigeria.
What they are saying
Mr. Danjuma expressed pessimism over hopes of stable power supply in the country. He went as far as stressing that even if ongoing projects are being completed there is still no hope for stable transmission of power in the country.
Mr. Danjuma was quoted as saying: “Going by the minister’s presentation that transmission gas increased from 5000 to 8000 megawatts, it is not enough. When dishing out figures, we should bear in mind that capacity, transmission, and distribution have increased and that Nigerians, manufacturers, and industrialists want to see stable electricity.”
ENDSARS
#EndSARS: ECOWAS calls for protesters to remain peaceful in their demonstrations
ECOWAS has called on protesters to be peaceful in conducting their protests.
The Economic Community of West African States (ECOWAS), has called on protesters to be peaceful in conducting their protests and urged Nigerian security operatives to exercise restraint in the handling of protests.
This was disclosed in a statement by the organization on Tuesday and comes on the heels of statements by other International bodies and personalities, who have expressed worry over the nature of brutality meted on protesters, especially after the Lekki shootings.
Press Release on #ENDSARS Protests in Nigeria pic.twitter.com/hht0YjVclo
— ECOWAS-CEDEAO (@ecowas_cedeao) October 27, 2020
“ECOWAS Commission notes with concern that demonstrations by Nigerian youth calling for Police reforms, particularly the abolition of the Special Anti-Robbery Squad (SARS) of the Nigerian Police force, accused of misconduct by those demonstrating, have turned violent,” they said.
The body said it recognizes the right to peaceful protests and also called for protesters to be peaceful, due to the rising reported cases of lootings post protests during the curfews.
“While ECOWAS recognizes the right of citizens to freedom of expression and peaceful assembly and protests, it also wishes to stress that those rights should be exercised in a nonviolent manner.
“In this regard, ECOWAS calls on all protesters to remain peaceful in the conduct of their demonstrations. It also urges the Nigerian security operatives to exercise restraint in the handling of the protests and act professionally.”
Bottomline
The tone of ECOWAS’ message is different compared to the rest of other stakeholders including the statement of the Lagos State Governor, House of Reps Speaker, and the Vice President, who all acknowledged that the protests were peaceful and the protesters were attacked and that the violence from the curfews was not done by the protesters but by hoodlums.
The ECOWAS message is also the first statement by West Africa’s most important regional body since the #EndSARS protests started in the first week of October.
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