Tag: Billionaire

  • Billionaire vs the union

    Billionaire vs the union

    There is nothing that the story of oil will not do in this country. It is black but a devious beauty. It is a tale of a beautiful woman or what poets call a femme fatale.

    Nobel Laureate Garcia Marquez in his immortal novel, One Hundred Years of Solitude, wafts the tale of Remedios the Beauty, a celestial vision that titillates the fancies of mortal man.

     Men lose their way, croon and drool in vain, fall and even stalk her bathroom. But the beauty does not fall for anyone. She glides on, tragedy in her wake.

    So we may say of black gold, our black beauty. It is a story that entails both our most famous billionaire and our most famous trade unions.

    Dangote versus NUPENG. Dangote versus PENGASSAN. But normally, if these two forces met in battle, where would the popular army amass? The polls would naturally say the unions have it.

    Dangote outflanks the unions in popular favour today. That is the sorcery of oil. It is what happens when, in the words of Shakespeare, “witchcraft joins with beauty.”  It is, on the surface, a contest between the people and the billionaire.

    The people lost. It is, of course, a false victory.

    The people seem to lose because of what trade unions can mean today. They hark back to American revolutionary cry to yank off the yoke of colonial England: “No taxation without representation.” We have unions without representation.

    First, it was NUPENG, and the fight over trucks. They say Dangote was going to take over their business. They have thousands of Trucks to Dangote’s a fraction of theirs. But they were defending their corruption of the oil tanking business in cahoots with top fang-men in the oil business, including the NNPC. Dangote had come to intrude but they wanted to “chop” alone.

    Dangote may have a few trucks today but, maybe, tomorrow, he will outpace them. They wanted to nip the billionaire in the bud. We are not there yet.

    And if they wanted to fight, it is what the Yorubas call  Ija’gboro, a street brawl. In school, we called it “two fighting.”

    They fought shy of going to court. That is what the United States did to tame Bill Gates, and what the European Union has done to Google. Gates was a boa constrictor. He had no pity.

    Business men are no mice. Hence Philosopher Proudhon says, “all wealth is theft.”  Don’t expect a milk of human kindness from a capitalist. Capital has no bloodstream; hence it can shed blood.

    PENGASSAN is no different. The fight was over labour.

     The man fired 800 workers, a stunning number. PENGASSAN wanted revenge. Rather than take it on Dangote, they took it on the people. Festus Osifo and company’s agenda did everything that made the people hate bad governments and oppressors.

    First, they endangered our daily bread by trying to cut off pipelines that funneled the fuel of the economy.  It was to reduce the wealth of the nation. NNPC said output dropped 16 per cent just in those few days. That meant fuel scarcity, rise in inflation because transporters would pass on the cost down to the consumer. It also means negating the downward trend of inflation in the past few months.

    Two, they would compromise national security. Oil and gas pipelines bake our bread and make us safe. Pipeline busters are often men of the underworld: militants, hoodlums, bandits, etc.

    It shows that they had taken over the role of the criminal. They had turned themselves into corporate fangs. They are the new corporate raider, raiding the peace of the land. Labour union as terror.

    In the past, the labour union was a terror of ideology. We have a name once associated with NUPENG and PENGASSAN. It is Frank Kokori. He is the first name in oil heroism in Nigeria. He may be abstract to many. But when heroes matter, Kokori is named.

    During the tumult of our democracy struggles, the army lost sleep because of him. Whether they slept or rose, they had nightmares about this man.

     Kokori was the secretary, and he was the man who signed off or signed on for strike. If our present oil agitators are seeking their pockets, he was living a cause above oil and gas. Kokori gave up the promise of compromise with Abacha and goons. He shunned bribes or seductions. Not for him a big car, or a holiday in Honolulu, or a mansion in southern France. He wanted peace and food and representation with the people. He wanted the military to vacate power and hand the mandate to democracy’s jewel: the people.

    He did not want Abiola’s ballot to yield to the bullet. He won the election. The people had spoken. They wanted him as president.

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     The country was to shut down unless they bowed to the popular will or what Jean Jacque Rouseau called the “collective will.” If the military would not, he would not. Kokori became a vagabond for the people. He moved from place to place, hotel to hotel.

     He never saw wife or family. He never attended parties or funerals. He never had oxygen outside an enclosed place except when he was on the run.

    But he never surrendered until he was betrayed. That is the quintessence of a union leader.

    Today, the folks who control PENGASSAN and NUPENG are money men, so, it is not a billionaire versus the masses, but a big rich man versus a cartel of rich men who masquerade as the people’s conscience.

    The men had the guts to stop our spigot of life, our economic jugular, and yet they claim they love us.

    That is the story of black beauty. It is a dangerous beauty like Marquez’s Remedios the Beauty. It provokes ire and turbulence like the Trojan War that  Helen of Troy gave us, the beauty in the telling of Homer’s epic The Iliad.

     But we can make our black beauty a sublime one, of grace and prosperity like the black beauty Shakespeare serenaded in his Sonnet.

     The bard laments, though, that black beauty has been profaned, just like our crude oil. For him black “beauty (is) slandered with a bastard shame.” He adds that “Sweet beauty hath no name, no holy bower, but is profaned, if not lives in disgrace.”

    PENGASSAN and NUPENG have cast a shame on black gold as crude beauty.

  • Eruani Azibapu: Billionaire investor changing narratives in the Niger Delta

    Eruani Azibapu, President, Azikel Group of companies recently grabbed headlines with the formal launch of the first modular refinery in Yenagoa, Bayelsa State. Austin Ebuipade, in this piece, chronicles the giant strides being recorded by this uncommon investor.

    Former President Olusegun Obasanjo is not known for uttering effusive praise where none is deserved; thus, few weeks ago when he was commending the President of Azikel Group, Dr. Azibapu Eruani for taking the bold step of pioneering investment in what is now Nigeria’s first-ever modular refinery, the entire nation took note.

    Indeed, of the 18 licences issued for such investment by the Obasanjo administration before its exit in 2007, none saw the light of day. Of the 22 licences issued by the President Muhammadu Buhari administration in 2015, only Azikel Refinery which was commissioned in Yenagoa , Bayelsa State on February 18, this year has become a reality.

    Hence, the justifications for the lavish praise for the well-acknowledged capabilities of a serious investor like Dr. Azibapu Eruani whose investment is bringing much hope to the Niger Delta-a region which has seen unspeakable deprivation over the years in spite of its huge endowment of oil resources and arable land for cultivation of high yield agricultural produce for subsistence needs and exportation in order to generate foreign exchange for the nation.

    Azibapu
    Azibapu

    Significantly, the region remains the economic lifeline of Nigeria and that positional advantage dates back to the pre-colonial and post-colonial era, particularly because of the abundance oil and gas reserve in the Niger Delta that has remained the mainstay of the nation’s economy till date.

    Amidst these potentials, the region has continued to grapple with the dearth of infrastructures, unemployment and lack of industries, despite the fact that oil was first struck in commercial quantity in Oloibiri, Ogbia Local Government Area of Bayelsa state, Nigeria.

    However, it is also true that few elite, politicians and others, for fear of the unknown, limit themselves and see development as building houses, while others settled for rural hotel business which is not enduring and unsustainable therefore making it difficult to jumpstart the industrial growth needed in the Niger Delta.

    The burning desire to change the status quo and re-launch the Niger Delta into prominence is the commitment of Eruani as a business leader with no desire for political participation. He is determined to re-invent the oil rich region and give her a pride of place on the global industrial map.

    Dr. Eruani is the President of Azikel Group, a conglomerate in the business of Dredging, Petroleum Refining, Power Generation, Aviation, Construction and Engineering. It comprises of Azikel Dredging Nigeria Limited, Azikel Petroleum, Azikel Air Limited, Azikel Power and Azikel Construction as subsidiaries.

    A medical doctor per excellence, Eruani’s work careers span through civil/public service, the oil and gas industry and the later politics which he quit some 12 years back. He is an industrialist, celebrated entrepreneur and a medical doctor by training from the University of Port Harcourt, Rivers State.

    In his quest to assume leadership in business and commence the journey of the re-industrialisation of the Niger Delta, he returned to class at the Lagos Business School (LBS) where he bagged the Own Management Program Certification. From there, he proceeded to the London Business School where he obtained Certification in Senior Executive Programme as well as Wharton Business School, University of Pennsylvania where he studied Advanced Business Management and Leadership.

    He is a thoroughbred industrial leader, deep thinker, a focused leader imbued with strands of sagacity to re-industrialise the Niger Delta and Nigeria. He made a difference even while serving in government when he took up appointment as a Special Adviser on HIV/AIDS and Community Health and later Commissioner for Health in Bayelsa State when he was awarded the most innovative commissioner in his time.

    With over a decade in the competitive world of business, Eruani’s trajectory started with the humble beginning of selling sand from an umbrella, then to  caravan with the sand product sourced from local divers; and much later, driven by commitment to succeed and not despising the days of little beginning, he boosted the business with one dredging machine. Today the Azikel Group with the support funding from the Exim Bank and other International Financial Institutions has fleet of ultra-modern equipment with which it has continued to drive the wheels of industry in the Niger Delta region.

    Pertinently, development in the region was slow particularly owing to the challenge posed by the terrain that is below sea level. However, the Azikel Group was able to stockpile and met the demand for aggregate sand supply. That underscores the several sand filling, reclamation and regeneration of land in the state and region, signifying how critical land preparation is if any meaningful development must thrive in the region. Azikel Dredging Limited successfully sand filled, reclaimed and regenerated several lost land to tidal erosion. Others which were below sea levels but had been reclaimed include the sand filling of the multi-purpose Peace Park for the Bayelsa State Government, provision of over three million cubic metres of sand for construction of the East/West road, reclaimed and regenerated massive landmass for the take-off of the Federal University, Otuoke, reclamation work to regenerate lost ancestral land in Abalama and Bakana, Rivers state and several others for the international oil companies (IOCs).

    For Eruani, the critical success made in dredging propelled him into investing in other sectors. This gave birth to Azikel Air Azikel Power and Azikel Petroleum. It is no gainsaying that beneficiaries abound in the state, the entire Niger Delta and Nigeria as the detribalised Nigerian from Ogbia extraction of Bayelsa State continues the handshake across the Niger. Driven by the power of a grand vision, he is relentlessly pushing to fulfill his objective and goal centred on being the pivot of re-industrialising the Niger Delta, generating employment and creating financial freedom on a sustainable template for all Nigerians.

    Azikel Air has also impacted many lives through employment generation as well as rendering quality services. It actually began operation by providing helicopter services for multinational oil chief executives and expatriates workers onshore and offshore oil platforms and rigs that traverse the Niger Delta region. Today, the firm has stepped up operations to satisfy her numerous clients/passengers by providing quality services with her ultra-modern and reliable fixed wings charter services within and outside the shores of the country.

    Fired by the ‘Yes, we can’ conviction and a belief that electricity supply can be made stable in Nigeria, Eruani inaugurated Azikel Power during the Federal Government’s NIPP/Privatization process and made a bid for the acquisition of the Gbarain power plant. Unfortunately, he lost in the bid and came second as the reserved bidder. This lost bid, rather than dampen his spirit, challenged him to make a bid for a Greenfield licence. The resilience was to pay off as, in the last quarter of 2015, the Buhari/Yemi Osinbajo administration granted him a 500 MW on grid power licence.

    At the ground breaking ceremony of the refinery some weeks back, an elated Governor Seriake Dickson of Bayelsa State said he was proud that a Bayelsan, a ‘son of the soil’, a major player in the private sector has chosen to re-industrialise the state and Niger Delta by investing at home. Dickson also signed the certificate of occupancy for the landmass designated for the Azikel Petroleum Refinery and the Azikel Power Project.

    Explaining the motive behind the refinery project, Eruani said it was part of his big dream to re-invent and re-industrialise the Niger Delta region. When it finally takes off, the refinery will constitute its quota towards alleviating the sufferings of the Niger Delta people and Nigerians from the long human and vehicular queues at filling stations reduce acute short supply of petroleum products, importation of refined crude and the burden of incessant increase in pump price.

    To underscore the importance of the day, the Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Baru Maikanti, noted that: “Of the initial refinery licences granted by President Muhammadu Buhari, Azikel Refinery is in the forefront on delivery of the refinery, having achieved the task in the Phase I, II and III and a record performance of attaining 65 % completion.

    The significance of the ground breaking ceremony was underscored by former President Obasanjo who said he doubted the seriousness of the project at the initial stage as none of the 18 private refineries licences granted in his tenure moved to site. He described President Buhari to be very lucky to have committed persons, particularly Eruani, among the beneficiaries. He said, from all indications, Eruani has shown the way for every serious investor, be it local or foreign, to emulate, noting that there the space was larger enough to accommodate such coupled with a conducive environment provided by government.

    For Eruani, the story wouldn’t be complete without highlighting how the refinery project would impact lives. He estimated that an unprecedented 10,000 jobs would be created in addition to the developmental activities that the state is bound to experience. The Azikel Refinery, he noted, would refine Bonny Light Crude Oil and condensate to produce Premium Motor Spirit (PMS), Kerosene, Jet A 1, Diesel , LPG and Heavy Fuel Oil among other by products.

    “The race towards the finishing line is in sight. We are running with the baton to the finishing line and I am most confident that we will get there. We will be the first ever indigenous refinery to dispense refined petroleum product to Nigerians,” he announced to the guests.

    Well, his hands are already on the plow and there is no going back until his lofty dreams become realities.

  • Yung6ix to drop Billionaire Ambition soon

    Yung6ix to drop Billionaire Ambition soon

    Cashing in on the success of his first album, 6ix o Clock, budding Nigerian artiste, Onome Onokohwomo, aka Yung6ix is set to release his highly anticipated EP titled Billionaire Ambition.

    The artiste who is signed in the Kash Kamp Trick Billionaire Music (KKTBM) label says that the EP is all about expressing himself.

    “Yes, I’m working on my EP titled Billionaire Ambition and it will be out any moment now. The EP is actually supposed to be out there but we did not foresee the success of my latest single, so I just gave it time for it to sink in. We will be putting out another hit any time now. So far, we have eight songs in the EP,” an excited Yung6ix stated.

    According to him, the project so far boasts of five songs, two collabos and one instrumental. “We are just putting finishing touches to it. There will be live instrumentations on it. We had different people coming up to put their talent into it; drummers and other instrumentalists are all featured in the EP. I worked with Ekelly, Gospel on the beat, Baller Tosh, Andre 053, Magnum, Dissally Beatx and a host of others and some other producers from america. It will be a crazy sound,” says the artiste.

    The young artiste who started out as a rapper says that he now does his own style of music which he describes as Afro Hip Music. Growing up in the Nigerian music industry and making successful hit songs, he says, you get to understand that there is a certain type of music that the people accept, and that is afro music.

    “I’m selling hip hop from the afro music point of view, from the Fuji music point of view; from the Nigerian point of view. Basically, what I am influenced by is my own environment and our own sound. All these, I have brought to bear in the new EP. It is just about me expressing myself; making heartfelt music,” he said.

  • Billionaire Thakkar is Future Award Young Person of the Year

    Billionaire Thakkar is Future Award Young Person of the Year

    Africa’s  youngest Billionaire, Ashish  Thakkar has emerged  the Young Person of the year of The Future Africa Award season eight held over the weekend in Port Harcourt, Rivers State.

    Thakkar, 32 from Uganda won the award among 10 contestants drawn from seven Africa countries among which include Peter and Paul, Grace Imesu,  Moctar Dembele from Burkinafaso, Foglagenchi Haritu from Cameroon, Kariuki Gathitu from Kenya and others.
    Thakkar is the Founder and Managing Director of Mara Group. He is a serial entrepreneur who started his first company at the age of 15. Ashish considers himself a native son of Africa with strong Indian roots, of British nationality and a resident of the UAE.
    The award had 16 categories which cuts across advocacy, community service, education, fashion and style, education, science and technology, young media entrepreneur, youth enterprise, entertainment, journalism, sport. and New media
    RiverS State Government, Microsoft, British Council International, United State Consulate, Tony Elumelu Foundation and others sponsored the event.
    The event brought together hundreds of youths drawn from across the country with the Executive Governor, River State, Rotimi Ameachi, the Commissioner For Information, Rivers, Mrs. Ibim Semenitari and the finance counterpart, the publisher of Today’s Woman, Mrs.Onyenokwe Adesuwa  and the Chief Executive Officer, Tony Elumelu Foundation,Dr. Wiebe Boer-.
    Speaking at the event, the executive Governor of River State, Rotimi Ameachi challenged Nigeria youths to sacrifice for the betterment of our country
    Ameachi said that the only people that can engender positive revolution in our country are youths who identify the wrong and they stick out their neck for the needed change to happen.

     

  • Billionaire debtors again!

    Billionaire debtors again!

    •The lenders should be named and shamed as part of ways to clean the Augean stables

    There are several ways to view the report that billionaire debtors earlier blacklisted by the Asset Management Corporation of Nigeria (AMCON) are back in warm embrace of the nation’s lenders. The first is to underscore the farce in the high drama of naming and shaming them; the other is indicative of the extent to which the culture of impunity in the sector has not only endured but metastasised; the third merely acknowledges how far the nation is down the ladder of global best practices.

    Last September, the Central Bank of Nigeria (CBN) had rolled out the names of individuals and corporate bodies barred from further accessing credit from the financial system. The companies were 113 in number, with additional names of 419 directors/shareholders. The apex bank had explained at the time, that it was forced to wield the big stick because of the reluctance of the debtors to meet their obligations to AMCON, after the latter purchased the debts.

    Today, both the CBN and AMCON have enough stories to tell about the toxic loans that were products of bad credit decisions by the lenders oftentimes acting in collusion with unscrupulous borrowers. Indeed, a good number were no more than avenues to steal depositors’ funds – with no considerations about paying back. Aside the fact that the loans were huge, most were granted in grave violation of relevant credit guidelines, and in almost all cases, poorly documented.

    Which was why the idea of shutting the culprits out of credit until they had purged themselves of their pathology was considered a just and fitting penalty.

    We understand that in the shifting terrain of business and the economy, there can be no such thing as a sacrosanct list of debtors. This is at least as far as those who took the loans are willing to engage their creditors for amicable settlement on mutually agreed terms. Asides – we find no merit in criminalising the debts, so long as the debtors are willing to engage.

    There are in fact, indications that some of the debtors on the original list have either made good on their obligations or had their debts restructured. This is where regular, periodic update of the debtors’ list by the CBN would have made eminent sense if only to avail the nation of information on the progress being made, given the publicity that greeted the publication of the list.

    Now to the issue of pathological debtors said to have found ways round the CBN regulation barring them from the financial system despite neglecting to meet their debt obligations. What the development indicates is that nothing has changed – that decisions about credit are still hardly about issues of credit-worthiness of borrowers but other extraneous considerations. It is also indicative of how far the CBN’s message of diligence in credit administration is yet to sink among banks. For an industry that expended a whopping N3 trillion to clear its Augean stables of toxic debts, the development must come as deeply troubling, a test of the apex bank’s resolve to punish bad behaviour.

    Those who gave fresh loans to the class of delinquent borrowers obviously have a case to answer; it seems also about time the apex bank extended the tactic of ‘naming and shaming’ to negligent and delinquent bank directors who approved them.

    This newspaper has long made a song of the need for a credit bureau. The latest development is precisely why the bureau – a veritable instrument for making credit decisions – can no longer wait.