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Buhari advocates timely completion of NLNG Train 7

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President Muhammadu Buhari on Tuesday charged that the Nigeria Liquefied Natural Gas (NLNG) Train 7 be delivered on schedule so that the Train 8 project could begin.

The President gave the charge at a virtual ground-breaking ceremony of the project in Bonny Island, Rivers State.

He urged the NLNG, the host communities, the Rivers State government and other agencies of the Federal Government to continue to collaborate to ensure the completion and eventual inauguration of the Train 7 project “safely and on time’’.

“As we flag off the Train 7 project today, I look forward to the development and execution of more gas projects by the International Oil Companies (IOCs) and indigenous operators.

“I also look forward to more Trains from NLNG to harness the over 600 trillion cubic feet of proven gas reserves we are endowed with.

“I commend shareholders of NLNG, the Federal Ministry of Petroleum, NNPC, the Nigerian Content Development and Monitoring Board and other stakeholders for very exemplary collaboration which has culminated in this great opportunity.

“I thank the foreign investors for the confidence reposed in Nigeria.

“I assure all Nigerians and potential investors in the oil and gas sector that the Federal Government will continue to create the enabling environment to develop the sector and bring the full benefits of gas closer to our people,’’ he said.

Buhari recounted that the story of Nigeria LNG was one he had been “passionately associated with during the formative years of the project’’.

“As Minister of Petroleum Resources, I kicked off our first foray in LNG Business in 1978. At the time it was already apparent that Nigeria was mainly a gas-rich country with a little oil!

“It, therefore, gives me great joy to see the organisation transform from just a project in the early 1990s to a very successful company with over 20 years of responsible operations and steady supply of Liquefied Natural Gas, Liquefied Petroleum Gas and Natural Gas Liquids into the global market.

“This is proof that Nigeria has great capacity to deliver value to the world by harnessing our natural resources,’’ the president added.

He congratulated NLNG and its shareholders – NNPC, Shell, Total and Eni for proving that a Nigerian company could operate a world class business safely, profitably and responsibly.

He lauded the consortium for clearly setting the stage upon which Nigeria’s vast gas resources would continue to grow well into the future.

According to the president, the focus of his administration is to boost the development of Nigeria’s abundant gas resources, strengthen the gas value chain, develop the much-needed infrastructure and enhance safe operations in the sector as outlined in the National Gas Policy of 2017.

“Through the Decade of Gas initiative, which I recently launched, we will transform Nigeria into a major gas and industrialised nation with gas playing the key role as revenue earner, fuel for industries and necessary feed for petrochemicals and fertiliser plants,’’ he said.

He also expressed delight that the NLNG, as the pioneer LNG company in Nigeria, had conscientiously proven the viability of the gas sector over the years, currently contributing about one 1 per cent to Nigeria’s GDP.

“NLNG has generated114 billion dollars in revenue over the years, paid nine billion dollars in taxes; 18 billion dollars in dividends to the Federal Government and 15 billion dollars in feed gas purchase.

“These are commendable accomplishments by the company’s 100 per cent Nigerian Management Team.

“With this level of performance, I can only hope that the company continues to grow starting with this Train 7 project, but also positioning Nigeria to thrive through energy transition,’’  he said.

In his address, Minister of State for Petroleum Resources, Timipre Sylva, described NLNG as a ‘“blessing to the nation’’.

According to him, it has positively complemented crude oil exploration by monetising flared gas and yielding huge revenue to the nation and to investors.

Sylva added that since NLNG became operational in 1999, the nation had recorded a drastic reduction in operational flare status from 65 per cent to 12 per cent.

“I boldly say that the ground breaking of Train 7 is a guarantee to every stakeholder of more dividends in terms of further reduction in gas flaring, more revenue to the nation and shareholders, more job opportunities, especially at the construction phase and more social investments for the society,’’ he said.

Also speaking, Anthony Attah, the Managing Director and Chief Executive Officer of NLNG, said the Train 7 would increase NLNG’s overall capacity to 30 million tonnes per annum (mtpa) from the current 22 million mtpa.

Attah noted that the project would stimulate about 10 billion dollars Foreign Direct Investments into Nigeria, create 12,000 direct jobs in Bonny Island and additional 40,000 indirect construction jobs.

He said the project would also further the development of local capacity and businesses through the 100 per cent in-country execution of construction works, fabrications and major procurement.

‘‘Nigeria has ridden on the back of oil for over 50 years, but with this Train 7 project, Nigeria is now set and I believe it is now time to fly on the wings of gas,’’ he said. (NAN)

 

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Constituency Projects: Oyebanji Joins Senate Leader On Tour Of Project Sites in Ekiti

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Ekiti State Governor, Biodun Oyebanji and Senate Leader, Sen. Michael Opeyemi Bamidele
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Ekiti State Governor, Biodun Oyebanji has commended the members of the State Caucus in the National Assembly for their dedication to the advancement of development in the State.

The Governor praised their efforts in initiating constituency projects that directly tackle pressing needs and improve the lives of citizens.

Oyebanji gave the commendation in Ado-Ekiti, the State Capital on Tuesday when he joined the Senator representing Ekiti Central Senatorial District and Leader of the Senate, Senator Michael Opeyemi Bamidele, on a tour of his constituency projects spanning various local government areas within the senatorial district.

The Governor said he is delighted at the remarkable partnership between the state government and National Assembly members, which according to him is now yielding positive results for the people of the state.

He explained that the projects are testimonials to what is possible when there is unity of purpose between the Executive and the legislative arms of government, commending Senator Bamidele’s commitment to grassroots development, dedication to service, and relentless pursuit of initiatives that directly impact the people.

While expressing his gratitude to Senator Bamidele, the Governor lauded the Senate Leader’s proactive approach to governance and his ability to mobilize resources to effectively implement impactful projects that uplift the socio-economic status of the people.

Governor Oyebanji reiterated his administration’s support for the projects and pledged continued collaboration with National Assembly members to advance sustainable development in the state, adding that he was confident that with the Senator’s visionary leadership and collective efforts of all stakeholders, Ekiti would continue to experience greater strides in development and prosperity.

“I am excited, happy and extremely grateful to God for this partnership that is working in the interest of Ekiti people, like the Senate Leader said, this is what we have when there is unity of purpose and collective ownership of vision to develop the state. A vision to run with the Renewed Hope Agenda of Mr President, and this tells me that I need to dig deeper in ensuring that there is continuous unity among the stakeholders in the National Assembly, “ the Governor said.

Earlier in his remarks, Senator Bamidele who thanked the Governor for his support and cooperation in realizing various development projects, said the purpose of the inspection is to assess the progress and impact of the projects across his constituency.

The Senate Leader, while emphasizing the significance of teamwork between the executive and legislative arms in driving positive change and progress in the state, restated his commitment to representing the interests of Ekiti people and working closely with the state government to address the people’s needs.

Senator Bamidele attributed various development projects in the state to purposeful and exemplary leadership provided by the Governor and assured the people that he would continue to work tirelessly to ensure the advancement of the interests of the people and promote development within the state.

“Part of the reason why this is going on is because am at peace with myself, am at peace with the state government and I don’t have any reason to want to isolate myself from what the state government is doing and we thank God Almighty”. He asserted.

Projects inspected included EKSU internal roads and the newly built medical student’s hostels, the newly built state Library in Ado Ekiti, the Mini stadium and sports complex in Erijiyan Ekiti, Intensive Care Unit and Amenities Center at Aramoko General Hospital, Ijero township road, newly built Iyin Ekiti General Hospital Intensive care Unit and Amenities Center, Iyin – Ilawe road, among others.

 

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Infrastructure: FG Approves Dualisation of Ado-Ikare Road – Bamidele

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Senate Leader, Senator Michael Opeyemi Bamidele
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After three decades of outright neglect, the Leader of the Senate, Senator Opeyemi Bamidele has revealed that the federal government has approved the dualistion of Ado-Ekiti-Ikere-Akoko road, a 31-kilometre highway that connects Ekiti State to Federal Capital Territory through Ondo, Edo and Kogi States.

The highway, according to the senate leader, was equally captured in the 2024 Appropriation Act purely enacted to implement strategic infrastructure projects that will create limitless opportunities for Nigerians across 36 states of the federation.

He spoke about the road reconstruction during a feedback session with one of the country’s foremost legal icons and Chancellor of Afe Babalola University, Ado-Ekiti (ABUAD), Chief Afe Babalola on Monday.

The Ado-Ekiti-Ikere-Akoko, one of the 12 federal roads connecting Ekiti State to Kogi, Kwara, Ondo and Osun States, has suffered neglect even before democratic transition in 1999.

With Bamidele’s intervention, however, President Bola Ahmed Tinubu approved the dualisation of the road considering its strategic significance to Ekiti and other states directly and indirectly bordering it.

Other federal roads that connect Ekiti to Kogi, Kwara, Ondo and Osun are still deplorable and dilapidated, seriously begging for the attention of the federal and state governments.

Among others, the roads include Ifaki-Otun road, Ifaki-Ilasa-Omuo road, Ado-Ikere road, Ado-Ijan-Ikare road, Ado-Iyin-Aramoko road, Aramoko-Efon-Ijebu Jesa road, Efon-Iwaraja and Otun-Erinmope-Odo Owa road.

At the session on Monday, Bamidele revealed that the dualisation of the Ado-Ekiti-Ikare-Akoko road was captured in the 2024 Appropriation Act and its reconstruction would commence before the end of this financial year.

He explained that the reason for the dualisation of the road “is due to the volume of traffic on this inter-state highway that connects Ekiti to Abuja through Ondo, Edo and Kogi States. It is a decision taken by President Bola Ahmed Tinubu.

“Aside, it is not only that the road was captured in the 2024 Appropriation Act. The Honourable Minister of Works, Senator David Umahi has identified it to the management and staff of the Federal Ministry of Works as a priority federal road, whose reconstruction must take off this fiscal year.

“The federal government has already commenced the design of the road because what was decided was that the road should be dualised from Ejigbo in Ado Ekiti up till 31 kilometres to Ikare Akoko. We will continue from there as a single lane.

“The reason for dualisation is due to the volume of traffic on this corridor. When fully executed, the road will stand the test of time. This was a decision taken not just by the minister, but also by the president, who has tremendous respect for you.”

Bamidele, also, recounted how thousands of students of the Federal Polytechnic, Ado Ekiti trooped out on Monday to protest the deplorable condition of the Ado-Ekiti-Ikare-Akoko road.
Sadly enough, according to the senate leader, the protesting students did not know the federal government had already awarded the contract to dualise the 31-kilometre road.

In his response, Babalola expressed delight about the dualisation of the Ado-Ekiti-Ikare-Akoko road, noting that the news of its reconstruction was the news of the year to him.

He said the news about the dualisation of the primary road directly connecting ABUAD with other parts of the federation “is the news of the year to me in particular and Ekiti people in general.”

Babalola also spoke about the state of Ekiti Airport, lamenting how the airport was inaugurated before former Ekiti State Governor, Dr. Kayode Fayemi completed his second term.

Since the inauguration of the airport project, however, the legal icon observed that no plane had land there due to the failure of Fayemi’s administration to complete the project.

He said: “I am currently financing the completion of the abandoned airport. The airport was inaugurated, but no plane can land there. I am currently financing the airport project to make it functional.”

He, therefore, urged the senate leader to support Ekiti State Governor, Mr. Biodun Oyebanji, noting that both of them “are absolutely committed to the development of Ekiti State.”

 

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FEC Approves N75bn Nigerian Youth Investment Fund Restructuring

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President Bola Tinubu
President Bola Ahmed Tinubu
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The Federal Executive Council (FEC) has approved restructuring the Nigerian Youth Investment Fund with additional provisions for it.

This was revealed by the minister of youth development, Jemila Bio Ibrahim after a meeting of the council at the Presidential Villa, Abuja on Wednesday.

She said the N75 billion fund, which was originally established in 2020, will now be institutionalized.

According to her, it will receive N25 billion from the 2024 supplementary appropriation while the central bank of Nigeria will release additional N60 billion to it.

She said: “Secondly, the Nigerian Youth Investment Fund, initially established in 2020, has been restructured and institutionalized through a legal framework.

“The fund, initially set at ₦75 billion, will now receive ₦25 billion from the 2023 Supplementary Appropriation Act and an additional ₦25 billion from the 2024 Appropriation Act. Additionally, ₦60 billion will be released from the Central Bank of Nigeria’s SME Investment Fund, focusing on agricultural investments. “These measures aim to support young businesses and stimulate economic growth.”

Jamila also said that FEC approved the institutionalization of a 2% youth quota in all government appointments and women representation of 30%.

“I’m delighted to brief the gentleman and women of the press that we have received Council’s approval to institutionalize a 2% youth quota, a third percent representation of young people in all government appointments and an equitable young women representation inclusive of this 30%,” she said.

According to her, it will go a long way in addressing “the long marginalization and exclusion of young people in decision making, and will also go a long way to encourage young people to participate in decision making processes and in civic engagements.”

 

 

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