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Come and invest in Imo State, Governor Hope appeals with WTO, WHO and ITC

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Governor Hope Uzodimma of Imo State has called on WTO, WHO and ITC to consider investing in Imo State. He made this call in Abuja at the just concluded launching of various trade support programs by the World Trade Organization (WTO), World Bank, and the International Trade Centre (ITC) aimed at bolstering Nigeria’s economic landscape.

Acknowledging the importance of entrepreneurship in driving economic prosperity, Governor Uzodimma called for a concerted effort to embrace entrepreneurship as a catalyst for sustainable development in Imo State and Nigeria at large.

According to him, leveraging the expertise and resources provided by these programs, Imo State stands to benefit from increased trade opportunities, improved market access, and enhanced capacity building for local entrepreneurs.

He further disclosed that Imo State can unlock new avenues for job creation, wealth generation, and sustainable economic development, ultimately contributing to the prosperity and well-being of its citizens

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3 days after resumption, Port-Harcourt refinery ‘suspends’ operations

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3 days after resumption, Port-Harcourt refinery ‘suspends’ operations
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3 days after resumption, Port-Harcourt refinery ‘suspends’ operations

Barely three days after the much-publicized reopening of the Port Harcourt Refinery, operations appear to have been suspended.

According to Ekwutosblog, workers and residents near the refinery revealed that there was no activity, neither was loading taking place at the facility’s bays.

Although the Nigeria National Petroleum Company Limited (NNPCL) launched the new plant earlier this week, claiming that hundreds of trucks were loading daily, sources revealed that the trucks carried leftover products from storage, not newly refined fuel.

Investigations also revealed that the refinery is undergoing calibration, which will delay operations until the process is complete.

Workers on-site disclosed that the existing products—referred to as “dead stock”—require separation and cleaning before new supplies can be processed.

During a visit, the facility appeared deserted, with idle trucks and inactive machinery.

Sources also disclosed that calibration will continue into next week before major operations, including kerosene and diesel loading, can resume.

When asked about the lack of loading activity, a worker in overalls said, “They are de-watering, removing the water under the PMS. Maybe there will be loading after that, but we don’t know what time today.”

Another one said: “They are calibrating the meters,”

A major source spoke, “Before the refinery was shut down between 2015/2016, we had dead stock left in the tank, including some Premium Motor Spirit (petrol) DPK (kerosene), and Automated Gas Oil (diesel).

“So, these products were in large quantities in stores in those tanks. During the rehabilitation of the Port Harcourt Refinery, Old Area 5, those products were evacuated from the tanks for storage.

“But for DPK, it is in large quantity but they have not pushed it from the tank where it was kept after refined ready for commercial purposes.

“So, the product that was loaded was dead stock, that is the old product that was in the system. So, after these dead stocks, they will have to clean the tank, remove all the debris before pumping the new project into that tank, and redye it.

“But what they are trying to do at the Port Harcourt Refinery is manual, which cannot match the new digital pumps. Most of the pumps used for the event were refurbished.”

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Tinubu, Macron Witness UBA’s Expansion to Paris and Zenith Bank’s Inauguration in France

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Tinubu, Macron Witness UBA’s Expansion to Paris and Zenith Bank’s Inauguration in France
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President Bola Tinubu and French President Emmanuel Macron signed two agreements on Thursday in Paris, France, that will ensure a partnership on the development of critical infrastructure and the long-term sustenance of agriculture and food security.

Earlier, President Tinubu and President Macron witnessed the signing of the agreement by the United Bank for Africa (UBA) Group Chairman Tony Elumelu and Mr. Antoine Armand, the French Minister of Economy, Finance and Industry for the bank to commence operations in Paris.

Zenith Bank also inaugurated its services in the country during the visit.

The partnership agreements were signed at an economic forum attended by businessmen, captains of industry, governors, and some top government officials of both countries at the Palais des Elysée in Paris, France, during President Tinubu’s state visit.

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Mr. Armand signed the Letter of Intent.

The Minister of Finance, Edun, and Chief Executive Officer of the French Development Agency (AFD), Mr. Remi Rioux, signed another Letter of Intent to support the Renewed Hope Agenda reforms designed to stimulate and strengthen the economy.

The Declaration”, the document states, “ set out the enduring relationship between the AFD and the FRN, and the AFD’s continuing commitment to support the socio-economic growth of Nigeria through financing sustainable projects in urban infrastructure development, transportation network, housing infrastructure, human capital development through improved education specifically in STEM, agriculture, food security and healthcare.

The AFD however reaffirmed its commitment to long-term support of the Renewed Hope Agenda of Mr President on energy access and transition, sustainable agriculture and food security by financing the improvement of agro-logistic hubs. Importantly, the the AFD committed to supporting the real sector by providing capital from MSME in high-impact sectors.

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Oil Business Not Like Selling Cement, Sugar – Fani-Kayode Tackles Dangote

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Oil Business Not Like Selling Cement, Sugar – Fani-Kayode Tackles Dangote
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The former Nigerian Minister of Tourism, Femi Fani-Kayode, has tackled critics of the Nigerian National Petroleum Company Limited upon the recent revival of Port Harcourt Refinery.

This comes as he alleged that some elements within the private sector in the oil and gas industry want to undermine and understate the revitalisation of the Port Harcourt Refinery.

Fani-Kayode made this known in a statement on his official X handle on Thursday, noting that the oil business is not the same thing as selling sugar, spaghetti, and cement, tackling Aliko Dangote, president of Dangote Refinery.

His comments come amid claims against the viability of Port Harcourt Refinery after NNPCL announced that the plant has begun trucking out petroleum products on Tuesday.

Recall that Timothy Mgbere, Secretary of the Alesa community stakeholders, in an interview on Arise Television on Thursday alleged that Port Harcourt Refinery trucked sold out old stock, not freshly refined petroleum products.

However, Fani-Kayode fingered some elements in the private sector of the industry as responsible for the campaign of calumny to discredit the Group Managing Director of NNPCL, Mele Kyari, and President Bola Ahmed Tinubu over the commencement of Port Harcourt Refinery after years of being in comatose.

He stressed that the Port Harcourt Refinery is a great victory for Nigeria.

According to him, what Nigerians need is for NNPCL refineries to flourish, and the same for Dangote Refinery and others.

He said, “The resurrection of the PH refinery is one of the most encouraging things that has happened in the petroleum sector for many years, and the credit for this must go to the President and the GMD of NNPC.

“It is a pity that some elements in the private sector who are new in the field are doing all they can to undermine and understate this great victory for Nigeria.

“The oil business is not the same as selling sugar, spaghetti, cement, or rice, and no matter how hard you try, you cannot muscle your way and create a monopoly on the sale of refined products as you did for other commodities over the years.”.

He added: “NNPC will go from strength to strength, and once its other refineries are working as well, Nigerians will have cause to smile again. Let the new kid on the block flourish, but let the NNPC refineries flourish too. That should be our goal and not a squalid attempt to discredit NNPC and its leadership.

“Every optimistic and true lover of Nigeria’s progress and President Tinubu’s renewed hope agenda must be proud of the GMD Mele Kyari. His tenacity, bravery, ingenuity, and forthrightness have been rewarded with this great feat. Surely this is hope renewed for Nigerians.”.

Ekwutosblog recalls that on Tuesday the NNPCL announced the commencement of petroleum product production at the Port Harcourt Refinery.

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