The Nation Newspaper

Tag: petrochemical

  • Bayelsa hails Fed Govt for siting new fertiliser, petrochemical plant in Brass

    Bayelsa hails Fed Govt for siting new fertiliser, petrochemical plant in Brass

    The Bayelsa Government has commended the Federal Government for citing a multi-billion dollar private sector-driven fertiliser and petrochemical plant in Brass.

    Bayelsa State Governor Seriake Dickson spoke when he led the Amanyanabo of Twon Brass, Commodore Alfred Diete-Spiff (rtd), and a team of private investors on a thank you visit to the Acting President Yemi Osinbajo.

    Dickson said: ” We are also here to discuss other issues concerning the take-off of the project.”

    The Brass is a Local Government Area in Bayelsa State, with headquarters in the town of Twon-Brass on Brass Island along the coast. It has a coastline of approximately 90 km on the Bight of Bonny.

    Dickson told state House Correspondents on Tuesday that the project would create enormous jobs and transform the economy of the state and the country at large.

    The governor assured investors of adequate security.

    “We came to discuss issues on the Brass Fertilizer Project billed to take off in Bayelsa. That is a big ticket investment running into billions of dollars.

    “The government team is here, the traditional ruler is here because the project is taking place in his domain.

    “We are here to assure the Federal Government and investors that Bayelsa as they all know is one of the safest states in the Federal Republic of Nigeria. We have worked hard in the last five years I have been governor to bring that about.”

    The governor also commended the Federal Government for its new approach in pursuing integrated development in the country based on partnership and collaboration evidenced by the fertilizer plant.

    Dickson noted that the Acting President’s dialogue on behalf of President Muhammadu Buhari with  Niger Delta stakeholders, saying that a new understanding was emerging for the stability, security and development of the region.

    “It is when we bring big ticket investments, create jobs and we affect the economy and create other legitimate options through which young people can survive that some of the crises that we see here will be addressed.

    “This is a good way to begin to address that and that is why I am here to assure the Federal Government and investors for the steps so far taken.”

    The governor also commended the Federal Government for directing oil producing companies that did not have offices in Bayelsa to open offices in the state.

    He recalled that the story of oil exploration began in Bayelsa but lamented that it was shocking that no oil company had an office in the state.

    Dickson expressed concern that the state had been denied the economic benefits of oil production.

    “There are no jobs, no employment, they don’t even pay much tax, and a number of them don’t even pay tax at all.

    “The Federal Government has said that they should go back. So, we expect to work with the Federal Government and engage with all the oil producing companies to see how they can begin to have respectable presence.”

    Dickson also commended the Federal Government for its decision to establish modular refineries in the Niger Delta region.

    Dickson said it was yielding a lot of revenue for the country as one of the most profitable partnerships the Federal Government had gone into.

    “You have other big ones like the Gbarain/Obie gas plant project in Bayelsa owned by Shell, there are other ones.

    “But this one is a fertiliser petrochemical company, And they will do a lot of skills development and skills transfer, a lot of jobs will be created and there will be a boom in the local economy, state economy and ultimately affect the national economy positively.”

    He said the Bayelsa government would engage the oil companies to ensure that they did their businesses without inhibitions.

  • We’ll make Nigeria petrochemical hub of Africa, says Jonathan

    We’ll make Nigeria petrochemical hub of Africa, says Jonathan

    President Goodluck Jonathan yesterday said he would make Nigeria the petrochemical hub of Africa.

    Jonathan, who was in Akwa Ibom to perform the ground-breaking ceremony of $1.5 billion Methanol Industry and commissioning of Uquo gas Processing Plant, stressed the need for the establishment of more petrochemical industry in the country in order to create wealth and boost the country’s foreign exchange earnings.The president stated that it was only through the private sector that the economy could grow, explaining that it was not the business of the government to get directly involved in the building of industries but government can provide an enabling environment for private sector to thrive.

    He said the facility  will boost power generation in the country by between 750 and 1,000 megawatts (Mw) of electricity.

    He said: “Today’s commissioning is the beginning of a gas value chain that will affect the lives of Nigerians and boost the nation’s economy. With an added 1,000 megawatts of electricity to our national grid, our production capabilities are bound to expand, increasing the size and breath of our economy.

    “This means that the hairdresser can do her hairdressing, the welder can do his welding, and the factory can carry on production. It means that the people in the office can function because their computers will have power and all those things have an impact on the ability of each individual to produce optimally.

    “Private sector involvement is key because it touches on our economy. Both factories have to use gas and Nigeria is known to have more gas than even crude oil but over the period we have not been maximising our gas access.

    “We even have gas plants but we don’t have enough gas to power them. Of course the issue of the Quantum petrochemical Complex is significant because we have been saying that we will make Nigeria the petrochemical hub of Africa. So we need more of private sector investment. We must consume our gas. That is the only way Nigeria will appreciate the value.

    “We cannot continue to export raw crude oil and raw gas. When you export raw gas you create job and wealth in other places. You imagine the number of jobs the petrochemical industry will create. Private sector involvement is important.”

    Jonathan also explained that with the current investment in the petrochemical industry, by year 2020, the country would have reduced gas flaring to an acceptable limit globally.

    He said: “We have not been able to stop gas flaring but with this kind of investment coming into the petrochemical industry then our dream that by the year 2020 we will reduce the gas flaring to an acceptable limit globally will be realised.

    “As a country it is not for government again get to directly involved in the building of industries. We said that we must provide the environment for the private sector to drive the economy. Government is no longer competing with the private sector.

    “With what we are doing now by having robust private sector in the country, the economy of the country and the potentials in terms of having robust GDP will increase. We will continue to encourage private sector in that direction.”

  • Why we’re into petrochemical, agric sub sector, by Dangote

    The Dangote Group is into petrochemical and agriculture industrial sub sector as part of its contribution to unemployment reduction, its President Alhaji Aliko Dangote has said.

    He said if the country is economically empowered through gainful employment, the poverty level would have reduced.

    Dangote spoke at the weekend when a group of business men visited him in his office.

    According to him, no government can succeed without the input of the private sector.

    He hailed the federal government for listening to the private sector and intervening in the critical areas of attention such as the backward integration policy which started with the cement sector and now being extended to agriculture.

    He said government should not be tired of helping the organised private sector by intervening in other areas of their operations in which the inclement climate under which they operate has hampered them from attaining installed capacities.

    “Good enough Nigeria has the resources and the market for any company to survive, only in a few other areas government should intensify efforts to ensure to make the sector attractive to investors.

    “I have always said it that Nigeria is a good place to invest. We have all in abundance. God has blessed this country, what we have naturally in abundance is what other counties are looking for to buy”, he said.

    Dangote expressed optimism on Nigeria’s economic revival through the private sector noting that the current challenges facing the country will soon be a thing of the past.

    He promised more investment in the country to create more jobs.

    Dangote is the President of the Pan African conglomerate. He is also a member of the National Economic Management Team .

  • Govt to revamp industries

    Manufacturing industries in the critical sectors of the economy such as mining, petrochemical, infrastructure and agro-business have been urged to improve on the current standard in order to create jobs and expand the economy. The advice was given by President Goodluck Jonathan at the Gala/Awards Night of Vitaform Nigeria PLC, to mark the 50th anniversary of the company at Muson Centre in Lagos.He was represented by the Minister of Trade and Investment,Mr Olusegun Aganga.

    The President said the general decline in the manufacturing sector will be addressed by his administration but with emphasis on exportation of raw materials and other value added products where Nigeria seems to have comparative and competitive advantage which will, in turn, boost export trade.

    He added that other areas of manufacturing such as food processing, sugar processing, textile production, cement production will not be left out, stressing that the country will boost its non-oil exports to keep the economy expanding.

    “We are doing our best at ensuring success and this has led to a report from the Manufacturers Association of Nigeria (MAN) that some manufacturing industries have been getting 15 hours of uninterrupted power supply. We are trying our best but we still need your support”.

    Speaking on Vitafoam’s achievement and good business, he said Vitafoam Nigeria PLC won so many awards from the Nigerian Stock Exchange (NSE) ever since it got listed in 1978.

    “The company pay its dividends every year without delay and even embraces the standards of the Standards Organisation of Nigeria (SON). Vitafoam has shown integrity and excellence and played the role of good governance in the country,” he said.

    He congratulated the management and staff of Vitafoam Nigeria PLC for being outstanding for 50 years.

    The Chairman, Board of Directors, Vitafoam Nigeria Plc, Chief Sam Bolarinde, said that the company has been able to survive in Nigeria in the midst of many unfortunate incidences and it does call for celebration.

    “If we still hold our heads high till this time, I think we deserve celebration.”

    He promised that Vitafoam will be in Nigeria in the next 50 years and will continue to deliver the best services and quality products.

    In his address, the Managing Director, Vitafoam Nigeria PLC, Mr. Joel Ajiga, said that the Gala/Awards Night was to round up the golden jubilee celebration as different activities had been done to mark the celebration.

    He stressed that the company has visited ten charity homes in Lagos, had a novelty match, a lecture and a book presentation entitled: Vitaform, a journey in resilience.

    While showing appreciation, he said “we honour our distinguished distributors at all levels and we thank everyone for the participation and unflinching support over the years.”

    Speaking on the company’s future plans, he said the company will join solid conglomerate not only based in Nigeria but with other international ties.

    The Gala/Awards Night also featured presentation of awards to distributors who seemed to have improved outstandingly from the last review with four different categories considered, which are Platinum, Gold, Silver and Bronze.

    The winner of the Platinum category, Alh. Idiaka went home with Volkswagen truck, the Gold category was given a Pick-Up Van, the Silver category got Tri-doors Fringe while the Bronze category had Generating set.

    Also honoured were the former Managing Director, Dr. Dele Makanjuola and the Chairman, Chief Sam Bolarinde for their outstanding and lifetime leadership and service.