Business
NNPCL Invites Doubters to Tour Port Harcourt Refinery
The Nigerian National Petroleum Company Limited (NNPC Ltd) has insisted that the Old Port Harcourt Refinery is up and running, with loading operations in full swing.
The Group Chief Executive Officer, Mr Mele Kyari, gave the confirmation at the commissioning of the NUPENG Towers in Lagos on Wednesday.
In a goodwill message at the event, Kyari extended invitation to human rights activist and lawyer, Mr Femi Falana, and all those in doubt, to join the NNPC Ltd on a tour of the refineries in Port Harcourt, Warri, and Kaduna to verify their status.
He also shed light on the controversy around products blending, stating that blending was not a crime as it is an integral part of the refining process. “If you don’t blend, you will bring out off-spec products which will destroy your vehicles.
Every refinery blends because what is on specification in the United States of America will be off-spec in Nigeria and elsewhere. Blending is necessary to bring products to the specification of different countries or regions,” he explained.
Kyari also congratulated NUPENG on the successful completion of the NUPENG Towers and urged the union to continue to prioritize dialogue and co-operation in its relationship with NNPC Ltd and the Federal Government.
He disclosed that the President’s interventions in the oil and gas industry by way of Executive Orders were yielding positive results, with more investments coming in and prospects of more jobs in the industry.
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Business
NPA initiate trucks movement code to ease traffic at Lagos ports
The initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.
The Nigerian Ports Authority (NPA) has introduced a movement code to streamline the movement of empty containers into seaport terminals and reduce traffic congestion caused by container trucks along the Apapa and Tin Can Island port corridors.
The Guardian reported that under the new policy, the movement code will serve as a unique identifier generated by a holding bay for every empty container uploaded to the Electronic Call-Up (ETO) platform.
The code must correspond with the details captured on the ETO system before trucks are granted access to port terminals.
In a notice issued to stakeholders, the NPA said the movement code has become a mandatory requirement for completing the truck-container matching process.
Truck drivers are required to obtain the code from designated holding bays before proceeding to the ports.
According to the authority, the initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.
Business
Okonjo-Iweala lauds Cardoso for stabilising Nigeria’s monetary environment
Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”
The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has commended the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, for stabilising Nigeria’s monetary environment.
Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”
Speaking at the forum, Okonjo-Iweala commended Cardoso on the work that he and his team have done on currency and monetary policy stabilisation.
However, she emphasised that Nigeria must sustain broader macroeconomic reforms.
“Nigerians have to feel the dividends of reform in the real economy,” she added.
The forum brought together policymakers, business leaders and development partners to discuss strategies for strengthening Africa’s resilience amid growing global economic uncertainty.
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