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NAFEST 2016: Nigeria Takes Steps To Diversify Economy

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By Dipo Olowookere

Nigeria’s Information and Culture Minister, Mr Lai Mohammed says, Nigeria has made very deliberate effort to move her economy away from oil.

He said the trend all over the world is that creative industries are becoming creative economies, and no country wants to be left behind.

He made this known during a press briefing in his office ahead of the forth coming National Festival on Arts and Culture to be held in Uyo, the Akwa Ibom State capital.

He said the administration of President Muhammadu Buhari has strategically included the creative industries, as well as tourism, among the core areas for the diversification of the nation’s economy.

“There is no doubt that over the years, the festival, which later became known as the National Festival on Arts and Culture, has helped tremendously in bring us closer as a people. The festival has succeeded in re-awakening our consciousness and drive to leverage on the abundant potentials in the cultural industries for youth empowerment and wealth creation,” the Minister said.

Explaining the cultural uniqueness and socio-political advantage of the festival for the nation, Mr Mohammed said, “Some 46 years after the civil war, the festival is more relevant than ever. There is an urgent need to bring us closer together as a people, amid widening divisions along ethnic, religious and social lines. The fact that contingents from different parts of the country come together annually, irrespective of their ethnicity or religion, to showcase their arts and culture and leverage on their comparative advantage is very healthy for our country.”

The Minister said the festival has evolved from being an instrument of unity to being a platform to help raise the level of economic activities in the country.

The 2016 edition of NAFEST will mark the 29th edition of the festival that began in 1970 after the Nigerian civil war. The event started off as the Unity Festival, since it was part of efforts to reunite the country after the 30-month internecine war.

The 2016 festival which comes up from October 2, to 9, 2016 in Uyo.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Tinubu to Visit France Wednesday to Strengthen Bilateral Relationships

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By Adedapo Adesanya

President Bola Tinubu will embark on a state visit to France on Wednesday and stay in the European country for the next three days in honour of an invitation from President Emmanuel Macron.

The presidency disclosed this in a statement on Tuesday signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.

The statement said  President Tinubu will “be received on Thursday at the 350-year-old French military museum, Les Invalides and Palais de l’Élysée, by Mr Macron and his spouse, Brigitte, for initial ceremonies that will dovetail into bilateral meetings.”

“The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria,” the statement said.

“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication. They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.

“Brigitte and Nigeria’s First Lady will discuss the latter’s passion for empowering women, children, and the most vulnerable through the Renewed Hope Initiative,” it added.

The President will travel for the visit with his wife, Mrs Oluremi Tinubu, and other senior government officials. They will be hosted at a state dinner by the French leader before their departure.

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Excitement as NNPC Tankers Lift Petrol, Others from Port Harcourt Refinery

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By Aduragbemi Omiyale

Some trucks belonging to the Nigerian National Petroleum Company (NNPC) Limited have been sighted lifting premium motor spirit (PMS), otherwise known as petrol, at the newly-renovated Port Harcourt Refinery in Rivers State.

The facility commenced processing crude oil processing on Monday of about 90,000 barrels per day, representing 60 per cent of its installed capacity of 150,000 barrels per day.

The plant began production three years after the government approved $1.5 billion for its rehabilitation.

On Tuesday, trucks stormed the refinery to load petrol and other petroleum products in preparation for competing with the Dangote Refinery, which commenced PMS production in September 2024.

The Chief Corporate Communications Officer of NNPC, Mr Olufemi Soneye, in a statement today, said trucks began loading petroleum products which include Premium Motor Spirit (PMS) or petrol, Automotive Gas Oil (AGO) or diesel and Household Kerosene (HHK) or Kerosene, while other product slates will be dispatched as well.

Speaking during a brief ceremony to mark the commencement of product loading at the refinery today, the chief executive of the form, Mr Mele Kyari, described this as a monumental achievement for Nigeria which signifies a new era of energy independence and economic growth for the country.

He thanked President Bola Tinubu for his unwavering support and understanding towards the rehabilitation project and for his persistence in ensuring energy security for the country.

Mr Kyari also expressed deep appreciation to the NNPC board and the entire staff for their support and commitment, which crystallized into the streaming of the refinery, commending the contractors for doing a great job in ensuring that the refinery is delivered despite all challenges.

In his remarks, the Chief Executive of the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, congratulated the NNPC for the milestone and assured of his agency’s continued support towards the completion of rehabilitation work at the other refineries.

The refinery rehabilitation project is an Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) project aimed at restoring the refinery to full functionality and renewal.

It has achieved over 16 million manhours with zero Loss Time Injury (LTI).

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Navy Arrests Three, Seizes 20,000L of Cameroon-Bound Smuggled Petrol

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Petrol Product Marketers

By Adedapo Adesanya

The Nigerian Navy has arrested three individuals suspected of attempting to smuggle 20,000 litres of petrol into the Republic of Cameroon as the country continues to battle oil theft.

The arrest took place on Monday during a routine night patrol on Mbo River, according to the Nigerian Navy’s Forward Operating Base, FOB, in Ibaka, Akwa Ibom State.

This was disclosed by the Commanding Officer of the Nigerian Navy Forward Operating Base, Ibaka, Captain Uche Aneke.

“The suspects were arrested at about 7 p.m. while our operatives were conducting a stop-and-search during a routine patrol.

“Upon intercepting the wooden vessel, which was laden with about 1,000 cartons of different brands of beer and other goods, we discovered 100 drums of PMS carefully concealed under the cartons,” Captain Aneke added.

The seized items, along with the suspects, were handed over to the Nigeria Security and Civil Defence Corps (NSCDC) for further investigation.

Captain Aneke also reiterated the Navy’s commitment to combating maritime crimes and issued a stern warning to those involved in illicit activities.

“I warn individuals or groups involved in smuggling or any form of criminal activity within Nigeria’s waters to desist immediately.

“Criminal elements in the FOB Ibaka area of operations under the Eastern Naval Command Area of Responsibility will continue to be detected using advanced surveillance equipment and intelligence.

“Nigeria’s waters and the Nigerian coastal areas are not for illegal activities.”

Receiving the suspects and exhibit, the Assistant Superintendent of Corps, NSCDC, Akwa Ibom Command, Mr Willie Sunday, confirmed the transfer.

“We will further investigate and possibly prosecute the suspects,” he added.

Oil theft has been one of Nigeria’s main challenges. It has led to a drop in revenue earnings and has forced the Nigerian government to step up security efforts in the Niger Delta.

Latest data from the National Bureau of Statistics (NBS) showed that Nigeria’s oil production averaged 1.47 million barrels per day in the second quarter of the year, compared to 1.45 million barrels per day in the first quarter.

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