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African Railway Leaders to Meet over Financing Challenges

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Amidst funding crisis and outcry over likely debt crisis, a rail advocacy group, African Railway Roundtable, alongside a Swiss and South African rail associations, has scheduled a railway financing conference and exhibition for October 24, 2019.

The event scheduled for Abuja, the Nigerian capital, is co-sponsored by the Nigerian Federal Ministry of Transportation, German Friendship Society, South African Railroad Association, Railway Working Group of Switzerland among many other partners.

According to a statement issued by a director of the African Railway Roundtable, Mr Olawale Rasheed, high profile speakers lined up for this event include Ministers of transportation, heads of national railway agencies, finance professionals, Logistic experts alongside critical procurement decision makers; railway manufacturers and other stakeholders.

Commenting on the significance of the event, Mr Rasheed said “railway transport is a sector attracting passionate interest among African leaders with several governments embarking on ambitious railway expansion and modernization,” adding that “financing railway is a major headache for Africa.

“African leaders are challenged by funding and financing constraints in their bid to execute ambitious rail agenda. National capacity is limited. Borrowing raises fear of debt trap. Multilateral sources are equally facing shortfall and capacity crisis. The continent is in search of a workable sustainable financing and funding options to expand and upgrade the railway network system and benefits from the many advantages of railway transport.

“The Railway Financing conference will help participants to develop a greater understanding of the financing possibilities and options. The conference will present various financing paths while at the end forging a combined alternative to satisfying African yearning for an expanded railway network.

“The Railway Financing Conference 2019 is where leading government officials and experts will discuss the major funding challenges facing the railway sector, devise how to finance railway facilities, understand why new financial engineering is the answer  and how new financing options are imperative if Africa is to reap the benefits of expanded railway system,” Mr Rasheed noted.

“A major part of the conference is exhibition pavilion for railway manufacturers and railway agencies to showcase services, products and investment opportunities. We expect exhibitors from all over the world,” the ARR director noted.

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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Expectations Heighten For Reactivation of Nigeria’s Other Refineries

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 By Adedapo Adesanya

After years of laying fallow, the Port Harcourt Refinery began producing and distribute petroleum products Premium Motor Spirit (PMS) or petrol, Automotive Gas Oil (AGO) or diesel and Household Kerosene (HHK) or Kerosene.

This development has raised expectations regarding Nigeria’s other three refineries not yet operational. These include the second refinery in Port Harcourt as well as the Warri and Kaduna Refinery.

The reactivation of these facilities, according to energy analysts, will help push out more supply of petroleum products, which may help cut down high prices that Nigerians pay while also making the country self-sufficient.

The newly operational refinery was built in 1965 and Port Harcourt II was added in 1989, increasing capacity by 150,000 barrels per day, making the total capacity of the Port Harcourt complex 210,000 barrels per day.

The Warri Refinery was built in in 1978 and is supposed to have an upgraded capacity up to 125,000 barrels per day and the Kaduna Refinery, which was commissioned in 1980, was designed with a capacity of 110,000 barrels per day.

Speaking during a brief ceremony to mark the commencement of products loading at the refinery on Tuesday in Port Harcourt, the Group CEO, Mr Mele Kyari described the commencement of the loadout activities as a monumental achievement for Nigeria which signifies a new era of energy independence and economic growth for the country.

The GCEO further thanked Nigerians for their patience and for the legitimate expectations on the Company to deliver on the other refineries.

Meanwhile, President Bola Tinubu on Tuesday extended his heartfelt congratulations to the NNPC on the successful revitalization of the Port Harcourt refinery and charged the NNPC Limited to expedite the scheduled reactivation of both the second Port Harcourt refinery and the Warri and Kaduna refineries.

He said these efforts will significantly enhance domestic production capacity alongside the contributions of privately-owned refineries and make our country a major energy hub, with the gas sector also enjoying unprecedented attention by the administration.

The President underscores his administration’s determination to repair the nation’s refineries, aiming to eradicate the disheartening perception of Nigeria as a major crude oil producer that lacks the ability to refine its own resources for domestic consumption.

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e-Governance Bill Will Promote Accountability, Transparency—Oyo Stakeholders

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By Aduragbemi Omiyale

Some stakeholders in Oyo State, including the state government, have called for a speedy passage of the National Digital Economy and e-Governance Bill, submitting that it would ensure accountability and transparency in governance.

At a stakeholder engagement meeting on the National Digital Economy and eGovernance Bill in Ibadan on Tuesday, participants agreed that the e-governance bill would smoothen government activities and boost government-citizen engagement.

The Minister of Communications, Innovation and Digital Economy, Mr Olatunbosun Tijani, appealed to Nigerians to give the bill the needed support for passage.

Mr Tinubu, speaking at the event through Banke Ajagunna, noted that the importance of the bill cannot be underestimated as it will enhance the digital economy and build trust between the government and the people.

According to him, the consultative engagement is going on in all the states of the federation to seek the input of stakeholders on the bill, and submitting it is a significant step forward in Nigeria’s digital transformation journey.

This bill, according to him, aims to drive economic growth through digital technology, improve public service delivery, and create a competitive environment for the Nigerian digital economy.

He noted that in a bid to migrate Nigeria into a smart country, the federal government through his ministry proposed the National Digital Economy and e-Governance Bill.

The Minister said the bill offers numerous opportunities for businesses to innovate and expand, with improved digital infrastructure and a supportive regulatory environment. Individuals will also benefit from improved access to digital services and better governance through e-governance initiatives.

He highlighted the advantages of the E-governance bill to include Economic Transformation and Establishment of a regulatory foundation to encourage digital commerce, cross-border trade, and innovation, positioning Nigeria as a major player in Africa’s digital landscape.

“It will facilitate the digital transformation of government services to make them more transparent, accessible, and responsive to citizens,” Mr Tijani stated.

He also said the bill will ensure Digital Access for All, saying, “it will promote infrastructure and digital literacy programs to make digital services accessible across Nigeria, including underserved regions.”

Speaking earlier, the Senior Special Assistant on ICT and E-Governance to the Governor, Mr Bayo Akande hailed the federal government’s National Digital Economy and E-Governance Bill.

Mr Akande, who observed that the nation is overdue for a digital economy, which is the order of the day, added that this bill will drive economic growth through digital technology.

“Despite advances in technology, Nigeria’s digital economy faces critical challenges, Nigeria lags behind countries with robust e-governance frameworks that empower citizens and protect consumer data. Without intervention, Nigeria risks losing economic opportunities in an increasingly digital world,” he stated.

“Though Oyo has already started to introduce digital methods in the governance space of the state, as the state recently deployed Business Process Automation, in a bid to make Oyo state government services go paperless, the bill is a step in the right direction,” the aide to Governor Seyi Makinde of Oyo State noted.

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Labour Party Disassociates Self From Interim Executive Committee

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By Modupe Gbadeyanka

The national leadership of the Labour Party (LP) has affirmed Mr Lookman Abiodun Jagun as the leader of the party in Ogun State.

Mr Jagun was appointed as the leader of the Caretaker Committee for Ogun State chapter of the opposition party by its highest organ, the National Executive Committee (NEC).

In a statement issued by the National Publicity Secretary of Labour Party, Obiora Ifoh, it was emphasised that any other group parading itself as the leadership organ of the party in Ogun State was not recognised by the national leadership.

There has been a group known as the Interim Executive Committee (IEC) of the Labour Party claiming to be in charge of the party in the state.

But Labour Party stated that this group is not known to it as “the Interim Executive Committee is an aberration and it is unknown to both the constitution of the Labour Party and the national leadership of the party.”

The Labour Party has a structure and a valid constitution that governs its operations and all members are expected to abide by the party’s constitution.

“The party does not permit or encourages members to arrogate powers and functions to themselves, without recourse to the constitution or the national leadership.

“Faithful party men and women in Ogun state are advised to be wary of the antics and activities of the self-styled IEC, as they do not enjoy the support or validation of the National Leadership of the Labour Party.

“We also urge every member and intending members to subject themselves to the ongoing e-membership registration and revalidation exercise to be able to participate in the activities of the party, including the congresses that will commence in February 2025 across the nation,” the statement said.

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