Business
NMDPRA Licenses Edo Modular Refinery for Operations
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued operational licence to Edo Modular Refinery and Petrochemical Company Limited, Ologbo in Ikpoba-Okha local government area of Edo State.
The NMDPRA is the Technical and Commercial Regulator of Midstream and Downstream Operations in the petroleum industry with its issuance of operational licence being the final stage of approval from the regulatory authority that would make the plant operate as a refinery.
The Chief Executive Officer of NMDPRA, Ahmed Farouk in a ceremony, handed the certificate to AIPCC, the parent company of the Edo Refinery.
Farouk, who was accompanied by the Executive Director (ED), NMDPRA, Hydrocarbon Processing Plant Installation and Transport Infrastructure (HPPITI, Mr Francis Ogaree, handed over the operational license to the refinery Head, Technical Operations, Segun Okeni.
Farouk assured the management of the refinery that the regulatory authority is a business enabler and would be ready to give the refinery all the necessary support in all its projects.
A statement by Okeni made available to journalists in Benin City on Tuesday said the company is out to make her contributions to the petroleum refinery and gas processing subsector adding that the AIPCC is developing three other projects and one of such would be completed in the next one year.
On the alleged non-allocation of crude from the Nigerian National Petroleum Corporation Limited (NNPCL), Okeni revealed that the refinery is finalising arrangements with an indigenous oil company to access crude oil for optimal production capacity.
“We are finalising a major crude supply agreement with an indigenous oil company.
Although the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and NMDPRA have been supportive but once we find a source of crude they will normally give us urgent approval.
However with this licensing, NUPRC ought to consider existing local refineries in the bidding round for marginal field”, he said.
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,410 Sell ₦1,420
Great British Pound (GBP) Buy ₦1,890 Sell: ₦1,910
EURO (EUR) Buy ₦1,580 Sell ₦1,605
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
Central African CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,357. 61
Great British Pound (GBP) ₦1,840.10
EURO (EUR) ₦1,571.70
Swiss Franc (CHF) ₦1,673.58
Chinese Yuan (CNY) ₦201.37
West African CFA (XOF) ₦2. 39
West African Unit Account (WAUA) ₦1,853.65
Saudi Riyal (SAR) ₦361. 59
South African Rand (ZAR) ₦83.85
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1,416 Sell ₦1,423
GREAT BRITISH POUND (GBP) Buy ₦1,890 Sell: ₦1,910
EURO (EUR) Buy ₦1,590 Sell ₦1,610
CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN Exchange Rates
US DOLLAR (USD) ₦1,357. 65
GREAT BRITISH POUND (GBP) ₦1,834.04
EURO (EUR) ₦1,567.00
SWISS FRANC (CHF) ₦1,671. 98
JAPANESE YEN (JPN) ₦8.53
CHINESE YUAN (CNY) ₦201. 34
WEST AFRICAN CFA (XOF) ₦2. 39
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,858.02
SAUDI RIYAL (SAR) ₦361.62
SOUTH AFRICAN RAND (ZAR) ₦84.23
Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
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