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We’re repositioning NPA for efficiency, safety – MD

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The Acting Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has pledged management’s determination to reposition the nation’s seaports for greater efficiency, safety and accountability.

Bello-Koko made the pledge in a statement signed by Mr Olaseni Alakija, General Manager Corporate and Strategic Communications, on Monday in Lagos.

The Acting MD, while speaking at the just-concluded strategic retreat organised for NPA top management, said that the organisation was currently poised to creating and sustaining competitive advantage by offering its best in port operations.

The statement said that the retreat was designed to allow management staff to strategise and come up with “smart actionable steps“.

This, according to Bello-Koko, is with the view to ensuring growth, competitiveness and future readiness of the nation’s seaport systems.

“As part of efforts to position the agency towards greater efficiency, safety and accountability, the management has outlined factors that will enhance such prospects, as well as the capacity to garner greater market share.

“This will include infrastructural renewal and expansion, the introduction of barge operations, automation of truck transit through the electronic call up system and improvement in the sources of revenue and collection.

“Others include plugging income leakages and reducing overhead costs, elimination of monopolistic conduct, formulation and implementation of policies aimed to incentivise patronage of the Eastern Ports and encouraging competition,” he said.

Bello-Koko said that management was also keeping up with the dictates of Consolidated Revenue Fund and Fiscal Responsibility Act, compliance with international best practices, elimination of red tape, boosting workers’ morale and capacity building, among others.

He disclosed that these initiatives had laid the groundwork for some milestones with great potential for more as some of the reforms continue to transform into success evidenced by improved cargo throughput and revenue growth.

“Because excellence is a moving target, we cannot afford to rest on our laurels, we must redouble our commitment to continuous improvement as an organisational culture.

“Surpassing internal and external stakeholders’ expectations, which constitute a cardinal objective of this management, will require your unalloyed support as heads of directorates, divisions, locations, departments, port sections and units.

Bello-Koko said he expected that the retreat would churn out specific, realistic, measurable, achievable and time-bound goals and objectives by which NPA would be benchmarking itself in the next five years.

He said that the last time an event of this magnitude was held to chart a new direction for NPA was over a decade ago where the organisation’s present vision, mission and core values were crafted.

“We must, therefore, go beyond rhetoric to churn out implementable strategies aimed at making us equal to the exigencies of the very competitive edge and sector that we operate in,” he said.

Bello Koko pointed out that the disruptions caused by the outbreak of COVID-19 pandemic present a learning curve, especially for organisations such as NPA that operate in a sector that was global in scope to be constantly ready for dynamics in the form of increasing competition and innovation.

“Improving the turnaround time of vessels and reducing cargo dwell time is critical to attracting more vessels to our seaports.

“Optimising the business opportunities that the landlocked countries with whom we share borders presents a critical success factor in actualising our growth projections.

“The need to attract larger vessels and maximally benefit from the economies of scale that come with them show that the ongoing efforts to have deep seaports in Lekki, Badagry and Akwa Ibom, among others, are steps in the right direction,” he said.

He noted that in the meantime, NPA is constantly scaling up its responsibility of dredging the country’s channels to safely berth vessels of reasonable sizes whilst encouraging the use of flat bottom vessels (FBV) in areas of low draught.

He said that the current management would leave no stone unturned in its commitment in implementing the outcome of the retreat.

A highpoint of the event was the presentation of awards of excellence by Renner & Renner, in which the MD was honoured with the visionary leadership award.

The Executive Director Engineering, Prof. Idris Abubakar, was also honoured with the exemplary leadership award.  (NAN)

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Business & Economy

Tinubu To Present 2024 Supplementary Budget To NASS

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President Bola Tinubu Presenting 2024 Budget Proposal to the Joint Session of National Assembly
President Bola Tinubu Presenting 2024 Budget Proposal to the Joint Session of National Assembly
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President Bola Tinubu will soon present the 2024 Supplementary Budget to the National Assembly (NASS).

“I submitted the last budget to you,” the President said when he addressed a joint sitting of the National Assembly on Wednesday.

“You expeditiously passed it. We are walking the talk. I will soon bring the Year 2024 (Supplementary) Appropriation Bill. That is just for your information,” the President said in his terse speech at the joint sitting to mark the Silver Jubilee Of Nigeria’s 4th Republic.

In his response, Senate President Godswill Akpabio, said, “Thank you, Mr President, we will be expecting the Supplementary Appropriation Bill of 2024 as soon as possible.”

Also, at the joint sitting which coincided with the first anniversary of the Tinubu administration, the President confirmed ‘Nigeria, we hail thee’ as the “latest national anthem”.

Tinubu said, “You sang out the latest national anthem, ‘Nigeria, we hail thee’. This is our diversity, representing all characters and how we blend to be brothers and sisters.”

The President pleaded with both the Senate and the House of Representatives to continue to collaborate and work together with the administration to build the country on the path of sustained progress and development.

“We have no other choice; it is our nation. No other institution or personality will help us unless we do it ourselves. No amount of aid from foreign countries or any other nation (will fix us), they take care of themselves first. Let us work together as we are doing to build our nation, not only for us but for generations unborn,” he said.

 

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We Have No Magic Wand, Tackling Inflation Will Take Time — Cardoso

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Yemi Cardoso,CBN Governor
Yemi Cardoso,CBN Governor
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The Governor of Central Bank of Nigeria, Mr. Olayemi Cardoso has urged the citizens to be patient over the fight against current inflation and hike in food items in the country.

Cardoso disclosed this while briefing journalists at the end of the Monetary Policy Committee, MPC, meeting in Abuja.

The CBN governor mentioned that there was no magic needed to solve inflation in Nigeria but rather patience.

Also, Cardoso noted that despite pressure from food inflation, the general inflation rate was “moderating”, pointing out that “the tools the Central Bank is using are working”.

He stated, “I have several times and I will say again, there is no magic wand. These are things that need to take their time.

“I am pleased and confident that we are beginning to get some relief and in another couple of months we will see the more positive outcomes from the Central Bank have been doing.”

He added, “The committee thus reiterated several challenges confronting the effective moderation of food inflation to include rising costs of transportation of farm produce, infrastructure- related constraints along the line of distribution network, security challenges in some food producing areas, and exchange rate pass-through to domestic prices for imported food items.

“The MPC urged that more be done to address the security of farming communities to guarantee improved food production in these areas.

“Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply in a freely functioning market system.”

The Central Bank of Nigeria has also blamed the recent volatility of the country’s foreign exchange market on seasonal demand for dollars.

“Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply in a freely functioning market system,” a communique issued by the committee on Tuesday stated.

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Port Harcourt Refinery Begins Full Operations Next Month

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Port Harcourt Refinery
Port Harcourt Refinery
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The 210,000-barrel-per-day Port Harcourt refinery is expected to commence operations by the end of July, following multiple delays.

National Public Relations Officer of the Independent Marketers Association of Nigeria, Chief Ukadike Chinedu, revealed this new timeline on Monday. He noted that the refinery’s operation would boost economic activities, reduce petroleum product prices, and ensure an adequate supply.

In December last year, Minister of State for Petroleum Resources, Heineken Lokpobiri, announced the mechanical completion and flare start-off of the Port Harcourt refinery, the largest in the region.

The refinery consists of two units: an older plant with a 60,000-barrel-per-day capacity and a newer plant with a 150,000-barrel-per-day capacity. The refinery was shut down in March 2019 for the first phase of repairs after the government enlisted Italy’s Maire Tecnimont as a technical adviser and appointed oil major Eni as a technical adviser.

On March 15, 2024, NNPC Limited’s Group Chief Executive Officer, Mele Kyari, announced that the Port Harcourt refinery would begin operations in about two weeks. He made this statement during a press briefing following his appearance before the Senate Ad hoc committee investigating the various turnaround maintenance projects of the country’s refineries.

“We achieved mechanical completion in December,” Kyari stated. “We now have crude oil stocked in the refinery and are conducting regulatory compliance tests. The Port Harcourt refinery will start within two weeks.”

However, two months later, the refinery had yet to commence operations.

In an interview, IPMAN’s Ukadike emphasized that the work done on the refinery represented a complete overhaul rather than mere rehabilitation. He assured that every effort was being made to meet the July deadline.

Ukadike said, “When we visited, the MD informed us that the refinery was nearly ready and would start production by the end of July. The overhaul is extensive, with all the armoured cables replaced and everything almost brand new. The maintenance turnaround is massive, with work being done day and night. All hands are on deck to meet the target. By the end of July, the refinery should be operational.”

When asked about the government’s previous unfulfilled promises to restart the refinery, Ukadike acknowledged the delays but noted that no reasons were given for missing the last deadline in April

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