General
Subsidy Removal: Youths Hail Kyari’s Transparency Drive, Call for Patience
By Modupe Gbadeyanka
The chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, has been commended for promoting transparency, probity, accountability, and good governance in the Nigerian oil and gas industry vis-à-vis his handling of the recent fuel subsidy removal initiative.
This commendation came from Nigerian youths under the aegis of the Nigerian Youths Alliance (NYA) through a statement co-signed by their national president, Ifeanyi Ogbu, and secretary, Yemisi Oluwadamiro, in Abuja, on Wednesday.
They specifically praised Mr Kyari for his transparency in the company’s payment of an interim dividend of N123 billion to the Federation Account Allocation Committee (FAAC) for the month of June, barely two months after the federal government stopped subsidy payments.
While calling on Nigerians to be patient with the government over the temporary pains caused by the removal of the petrol subsidy, the young citizens urged the NNPCL chief to remain focused and avoid distraction sponsored by oppositions, anti-democratic elements and corrupt individuals who had fed fat by milking the country with the subsidy payment scheme.
According to the statement, “As Nigerian youths, even in these trying times, we must recognize, commend and encourage the efforts of our patriots who are having sleepless nights to ensure this nation works.
“Without mincing words, we know that at this time, fuel subsidy must go if this country must rise from its dying state and survive.
“Many oil marketers and corrupt individuals had become billionaires overnight at the expense of Nigerians with the continued payment of subsidies and these funds could have been channelled to better the lives of Nigerians and grow the economy.
“These individuals, by their sheer unconscionable criminality, subverted the noble idea behind the subsidy programme, which was for government to subsidize the cost of petrol to make it affordable to the masses.
“Rather than keep to the terms of the deal with the government, these marketers and their crooked allies repeatedly divert and smuggle petroleum products to neighbouring countries where they sell at higher rates and thus make more profit even after collecting subsidy money from the Nigerian government.
“Though it comes with sacrifices, Nigerians must know that there is no gain without pain.
“Therefore, we commend the bold and audacious initiatives of the President Bola Tinubu administration.
“The removal of the fuel subsidy is not about the president or the group chief executive officer of the NNPC Limited, but about the good and wellness of Nigerians.
“It’s however sad that oppositions and some corrupt elements who are angered that their ill source of wealth has been blocked with the removal of subsidy have continued to sponsor hatred and lies against the hardworking chief executive of the NNPCL, Mallam Mele Kyari.
“We are, however, not surprised because every genuine change for growth meets strong resistance and force, and someone must bear the brunt.
“In the history of the oil company, Mr Kyari has proven to be a man of selfless service, integrity, outstanding astute industry technocrat, and professional par excellence.
“Nigerians will attest to the fact that Kyari’s achievements have surpassed all his predecessors for the past 20 years.
“He has distinguished himself to be a visionary and professional manager with a towering repertoire of the inner workings of the industry, having served in various positions over the years.
“In barely two months since the government stopped payment of fuel subsidy payment, he delivered a whopping N123 billion to FAAC. This is commendable.
“Before his assumption of office as the GMD of the defunct NNPC, there were a lot of unresolved and knotty issues lingering and hampering the sector from achieving its potential. He stepped in and proffered solutions to them.
“Even before the passage of the Petroleum Industry Act 2021, which he promoted, Kyari convinced Nigerians of the new direction of the NNPC by making the financial books open transparently for public probity, which has changed the opacity in the system.
“NNPC financial books have never been opened transparently for public scrutiny over the years, but Kyari changed the narratives.
“He has effectively deployed his wealth of experience to spearhead giant innovations which have helped in repositioning the NNPC today.
“In his bid to put an end to the business of oil thieves, in 2022, Kyari introduced the “Crude Theft Monitoring Application” (CTMA) to check the theft of Nigeria’s oil. The CTMA, which has been helpful in preventing oil theft, has application options for reporting incidents, with prompt follow-up and responses and another one for crude sales documents validation.
“Not quite long after Kyari assumed office, the stifling Covid-19 pandemic hit the world economy, which adversely affected the petroleum industry real hard; the price of crude oil dropped sharply in the international market, which affected our revenue earnings drastically but with resilience and careful handling of its affairs, we were able to come out stronger.
“While we plead with Nigerians to be patient as the dividends for their current pains will come soon, we urge the new NNPCL and its management to remain focused and sustain their good works even as the country navigates through these trying moments.”
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Wholesale marketplaces were created so that business owners could find profitable offers and make deals on B2B platforms worldwide. In addition to buyers and sellers, there are traders, distributors, logisticians, and other professionals on such platforms. Let’s take a closer look at these professions. Traders purchase goods in order to resell them at a higher price; speculation is allowed on B2B marketplaces and is a legal instrument. Distributors are the official representatives of the manufacturer, meaning you can purchase original products at the lowest price. Most often, goods are purchased in China and then transported by sea to European countries or North America. We suggest you try the Globy Platform, where the most reputable Asian distributors are registered. Logisticians can also register on Globy. They provide services for the transportation of goods by sea. The following are the advantages of Globy, which are mentioned most often:
- quick registration on the portal;
- website with simple navigation and management;
- excellent choice of reliable suppliers;
- most relevant products in the catalog;
- free registration;
- no commission.
Some B2B platforms process payments, but Globy allows participants to make money payments outside the platform using one of the secure methods. In addition, Globy does not charge a commission when concluding a purchase deal. To start working on the platform, you need to register in accelerated mode or fill out a form with your company’s details. You can be sure that your banking details, personal, and contact information are protected. Third parties can only see the information that you leave open. When registering, do not forget to enter your company’s contact information (messenger, phone, email) so that new partners can contact you. You can pay attention to the fact that the Globy catalog contains items without specifying a price, but the product profile contains the vendor’s contacts. You can contact the seller to discuss the deal details, determining the price of the product.
Logistics Tool on Globy
There is often a situation when the supplier does not provide transportation services and the buyer has to search for a carrier on their own. In fact, this problem is solved simply. Globy has a special tool that helps you quickly find a charterer. You would open the freight calculator and fill in all the fields in the suggested form. You would specify the sending and destination port, and don’t forget to specify the dates and choose the container size. If you want to place containers in an optimal way, then use the load calculator, which is also available for free on the official website. You can use these tools only after registration. You can log in quickly if you have a Google account or a LinkedIn profile. After entering the data, the freight calculator will process your request and provide a list of prices. You can select a suitable line and contact the charterer to discuss the details of the contract. It is recommended to choose a sea delivery with a minimum number of intermediate stops, in which case the cargo will arrive at the destination port faster.
Receiving Cargo at the Destination Port
Buyers should remember that you can check the cargo when it arrives at the port. If the rules of transportation were violated, there was a long delay, or the goods were damaged, you can refuse the cargo, explaining the reason. You can discuss a price reduction with the supplier if the product has lost its proper appearance or the packaging is damaged. You can evaluate the cargo yourself or with the help of third-party experts. It is best to carefully check the documentation when receiving the goods at the port. All documents must be executed in accordance with international law. You can register on Globy today, find the goods you need, and use the logistics tools for free. More than fifty-five thousand users have already been registered on the platform, which indicates the high authority of Globy. If you have any questions, you can ask them in the Help Center on Globy website.
By Adedapo Adesanya
Shipping giant, Mediterranean Shipping Company (MSC), has signed a 45-year concession agreement with Nigerian maritime company, Nigerdock, to develop, operate and maintain a new container terminal at Snake Island Port in Lagos.
A statement by MSC on Thursday noted that the new container terminal would be completed by 2028 with a 910-meter quay, six Ship-to-Shore (STS) cranes, two ship berths, three barge berths, and up to 18 meters of draft.
The dedicated MSC terminal would be part of the company’s announced $1 billion investment in infrastructure and logistics in Nigeria.
“We are thrilled to take this step forward in our partnership with MSC to develop a world-class container terminal within Snake Island Port.
“This gives the world’s leading shipping line a home in Nigeria and brings significant foreign direct investment into the country to accelerate growth in the maritime and logistics industry,” it said.
Global shipping companies are pushing to secure long-term footholds in emerging markets as supply chains are reconfigured worldwide.
MSC said the terminal, to be built by ITB Nigeria and DEME Group, is expected to be ready by 2028.
It will occupy 30 hectares (74 acres) and feature a 910-metre (3,000 ft) quay capable of handling ship‑to‑shore cranes and mobile harbour cranes, serving both deep-sea vessels and barges.
MSC President, Mr Diego Aponte, said: “Completing this key phase in the development of Snake Island Container Terminal with Nigerdock and our trusted partners demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa.
“The new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping centre.
“Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience.”
Snake Island Port is an 85-hectare facility operated by Nigerdock, a maritime and logistics company, and comprises three terminals serving the Lagos port complex.
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