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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.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Aigbovbioise Aig-Imoukhuede for Africa Financial Summit in Morocco

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By Aduragbemi Omiyale

The chief executive of Coronation Asset Management, Mr Aigbovbioise Aig-Imoukhuede, will speak at the Africa Financial Summit (AFIS) fixed for Monday, December 9 to Tuesday 10, 2024, in Casablanca, Morocco.

Mr Aig-Imoukhuede, who is also the President of the Fund Managers Association of Nigeria (FMAN), will participate as a distinguished speaker on a strategic panel titled Connecting the Dots Between Investors and Issuers with AI and Fintech, with the session to be moderated by Senior Director at McKinsey and Company, Anass Bensrhir.

He will be joined by the Director General of the Securities and Exchange Commission (SEC) in Nigeria), Mr Emomotimi John Agama; and the Chairman of the Financial Regulatory Authority in Egypt, Mr Mohamed Farid Saleh.

The panel will delve into critical topics such as cultivating a digital investment culture to attract investors and issuers, scaling digital investment products through traditional banking channels, and fostering strong collaboration between fintech innovators and regulators.

Mr Aig-Imoukhuede will share insights on how Coronation is developing digital infrastructure and frameworks to enable wealth creation at all levels—individual, organisational, and public sector—while influencing economic growth across the continent.

“At Coronation, we believe that wealth creation should be accessible to all, and technology is the key to making this a reality.

“Through AI and fintech, we aim to bridge the gap between investors and issuers, laying the foundation for a thriving financial ecosystem across Africa. The discussions at AFIS will be instrumental in driving this transformation,” he stated.

Mr Aig-Imoukhuede is a seasoned leader in the financial sector, with extensive experience in wealth management, investment strategy, and policy advocacy.

His leadership at Coronation Asset Management highlights his expertise in driving innovative investment strategies, advancing wealth management solutions, and fostering sustainable growth across Nigeria’s financial ecosystem and the broader African market.

Coronation’s participation at AFIS reflects its commitment to redefining financial services through innovation and partnerships.

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How to Stop Recycling of Criminals, Ex-Convicts—Onabulo

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By Emmanuel Udom

The president of the Crime Reporters Association of Nigeria (CRAN), Mr Olalekan Onabulo, has explained how the various justice systems could work to stop the recycling of criminals and ex-convicts in the country.

Speaking in his welcome address at the CRAN Public Lecture/Award ceremony held at Sheba Event Centre in Ikeja, Lagos, Mr Onabulo said that there is no denying the fact that the pursuit of justice and security is a shared responsibility that demands collective efforts and collaborations.

He further explained that since recidivism, which is the recycling of criminals and ex-convicts is a hydra-headed monster, which has become a significant source of concern for security agents in the country.

Security operatives are in most cases ambushed, killed or maimed by criminals earlier arrested, investigated and prosecuted who returned to a life of criminalities after their convictions.

According to the CRAN leader, these criminals are emboldened and unrepentant and may want to take their pounds of flesh from security operatives to carry out their professional duties.

Speaking on Justice System Administration and Security in Nigeria: Challenges, Opportunities, and Solutions, Mr Onabulo said all hands must be on deck to address the issue as the whole process seems to have failed and must be redeemed by all and sundry.

”The security operatives, the judiciary and indeed all Nigerians must collaborate and work together to create a safer, just, and equitable society for all,” he stated.

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NIWA to Collaborate With Coastal States to Secure Waterways

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By Adedapo Adesanya

The National Inland Waterways Authority (NIWA) has commenced moves to collaborate with coastal states across the country to increase the safety of Nigerians using the waterways to commute.

According to the waterways regulator, this is part of bids to enhance safety on the nation’s waterways.

This was disclosed by Mr Bola Oyebamiji, the Managing Director of NIWA while speaking at a one-day consultative forum on safety and insecurities on inland waterways, organiwed by the Nigeria Transportation Commissioners’ Forum in Ilorin, Kwara State on Thursday.

He emphasised the critical role that safety and security play in fostering a thriving water transportation system.

The conference, themed Prevalent Safety, Security Hazards and Practices in Inland Waterways: Passenger Transport Safety in Ilorin, Kwara State, sought to address the pressing issues facing the inland waterways sector.

Mr Oyebamiji acknowledged the ongoing efforts by NIWA to improve safety, such as the recent unveiling of the transportation code for public use, and the inauguration of several operational assets including survey boats, gunboats, water ambulances, and a passenger ferry.

He also noted that safety campaigns have been launched across all operational bases, targeting local communities in their native languages.

The NIWA boss highlighted the support from the National Assembly, including the ongoing discussions on establishing coastal guards and the attention safety and security on inland waterways have received from the House Committee on Inland Waterways.

He appealed to the Commissioners for Transportation across relevant states to collaborate with NIWA in areas such as training, safety campaigns, infrastructure development, and financial empowerment.

He also stressed that while the challenges are significant, they are surmountable through collective action, adding that the efforts must be complemented.

The NIWA MD expressed optimism for actionable and implementable outcomes from the forum, which he believes will contribute significantly to ensuring safer and more secure inland waterways in the country.

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