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Akwa Ibom to Partner Private Investors on Construction of $6b Harbour

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  • Akwa Ibom to Partner Private Investors on Construction of $6b Harbour

The Akwa Ibom State Government has said it would partner with private investors towards building an harbour worth $6 billion to serve as logistics and supplies centre for oil and gas activities.

The Senior Special Assistant (SSA) on Petroleum Matters to Governor Udom Emmanuel, Obong Essien Esema disclosed this on Wednesday at Ikot Abasi Local Government area of the state after inspecting sites for the proposed harbour.

Esema said that at the moment three private investors had indicated interest to build a world class harbour in the state.

He said that the harbour would have logistics and supplies centre with jetties for oil and gas operations, waiting lounge, warehouses, offices and helipad.

Esema lamented that ExxonMobil and its subsidiary companies operating in the state were being serviced from far away Onne in Rivers because of absence of logistics centre in the state.

The governor’s aide, who inspected undeveloped jetties at Eket, Ibeno and Ikot Abasi local government areas, said that the maritime potential of the state had not been tapped over the years.

His words: “The state governor, Mr Udom Emmanuel, is interested in this project, the project is viable. I came with some officials from the Nigerian Maritime Administration and Safety Agency (NIMASA) to see how the state can enjoy full operations of the agency here.”

Esema, whose office also oversees Akwa Ibom State Local Content Compliance Monitoring Committee, said that building harbour in the state would boost employment of indigenes and yield revenue to the government.

Hear him: “This harbour will boost employment of our people in the seafaring and stevedoring business at the port.”

Also, the Chief Maritime Labour Officer at NIMASA, Mr Lawal Abdullahi, said that Akwa Ibom as at now had no registered and recognised jetty.

Abdullahi noted that NIMASA was aware that there were some persons operating illegal jetties in the state.

He said: “The state has very vast potential and lot of untapped maritime resources. NIMASA is interested to expand its operational office here. Today’s visit is an opener. We have seen the illegality going on here and the revenue leakages.”

He promised that the agency would liaise with the state government to make maritime operations viable in the state.

The German operator of Anchor Marine Services at Ikot Abasi local government area, Mr Wolfgang Hems, said that the state had enough potential to float many viable jetties.

Hems, who is the General Manager of Anchor Marine Services, said that the distance from Ikot Abasi to oil platforms offshore was only 18 nautical miles.

He said that it was costly and risky to run logistics from Onne in Rivers State, which is 80 nautical miles from oil platform offshore.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Government

Kaduna State Denies Taking ₦36 Billion Loan, Blames Past Administration for Debt

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The Kaduna State Government has reacted to a viral report alleging that the state borrowed ₦36 billion over the last six months.

The government made the clarification via a statement signed by the Commissioner of Planning and Budget, Mukhtar Ahmed, who labeled the report as inaccurate and misleading.

The commissioner emphasized that no new loans have been taken under Governor Sani’s administration.

Ahmed blamed loan issues on the past administration, noting that all the loans including World Bank programs such as AGILE, SURWASH, and ACReSAL were received by the past administration in the state.

The government stated that the current naira exchange rate to the dollar, which is over ₦1,600 has affected the repayment of these loans as its value has increased.

This means that Governor Sani’s administration is repaying nearly three times the amount of loans acquired by the previous administration, all thanks to the significant devaluation of the Naira.

“The inherited debt burden from the previous administration consisted of long-term loans. These loan commitments, including World Bank programs such as AGILE, SURWASH, and ACReSAL, were all agreed upon during the previous administration,” the statement noted.

“Previous administration’s loan agreements, based on exchange rates of ₦415-₦480 to the dollar, have now seen the Naira plunge to over ₦1,600 to the dollar, effectively tripling the value of these debts in local currency,” he noted.

The Commissioner frowned bitterly at the online platform for not seeking clarification prior to the publication of the report.

However, he echoed the government’s commitment to transparency in debt management and financial discipline, adding that the state government will not spare those responsible for mismanaging the state’s resources.

“Notwithstanding the erroneous reporting, the government is resolute in its dedication to transparency in debt management and financial discipline, prioritizing the enhancement of the state’s economy without imposing additional financial burdens.

“The state government reaffirmed its resolve to hold accountable those responsible for mismanaging the state’s resources, vowing to reposition Kaduna for the benefit of its citizens,” the Commissioner added.

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FG to Evacuate Nigerians in Lebanon as  Iran Threatens to Fire More Missiles at Israel

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The Federal Government is set to evacuate Nigerians living in Lebanon amid the tension between Iran and Israel.

Investors King had reported that Iran’s Military launched 180 missiles at Israel on Tuesday, killing no fewer than eight Israelites and injuring scores of other citizens.

Responding to the tension, Nigerian government directed its citizens living in Lebanon to contact the country’s diplomatic officers and envoys in the Middle-East country for immediate evacuation.

The Special Assistant to the Nigerian President on Social Media, Dada Olusegun, through his X handle, @DOlusegun, alerted all Nigerians in Lebanon to the attacks and asked them to get in touch with the Nigerian mission for profiling and documentation and subsequent evacuation.

Similarly, the Nigerians in Diaspora Commission (NIDCOM) advised Nigerians living in Lebanon to consider moving out of the country now that commercial flights are still in operation.

Nigerians are also urged to liase with the Nigerian Embassy in Lebanon for necessary guidance regarding their safety.

This was made known via a statement by Director of Media, Public Relations and Protocols Unit, NiDCOM, Abdur-Rahman Balogun, on Wednesday.

Meanwhile, Iran authorities have explained the reason for attacking Israel, saying that the barrage of missiles was in response to the killings of Iran-backed militant leaders, sending Israelis to shelters and prompting alarm across the region.

Reports have it that the Israel Defence Forces said it intercepted the 180 ballistic missiles launched by Iran at Israel on Tuesday evening.

Iranian government has threatened to launch more fierce missiles against Israel if it retaliates the Tuesday attack.

According to the Iranian mission to the United Nations in a message on its X account, “Iran’s legal, rational, and legitimate response to the terrorist acts of the Zionist regime—which involved targeting Iranian nationals and interests and infringing upon the national sovereignty of the Islamic Republic of Iran—has been duly carried out.

Nigerian government said the evacuation of its citizens is necessary following the Israeli government’s warning to residents of 24 more villages in southern Lebanon to evacuate amid increasing tensions.

It was reported that the villages fall within a United Nations buffer zone, created after the 2006 war between Israel and Hezbollah.

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Eight Killed, Several Injured as Iran Launches Missiles Towards Israel 

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No fewer than eight people have lost their lives in a devastating terror attack in Israel.

Israel’s national emergency medical service, Magen David Adom, confirmed that the attack occurred on Tuesday.

The service reported that several others were injured after missiles were fired in Jaffa, south of Tel Aviv.

The two terrorists who carried out the attack were “neutralized,” according to police.

Medics are currently treating several casualties, including unconscious victims.

Reports indicate that emergency services are responding to a shooting incident on Jerusalem (Quds) Street in Jaffa, near a light rail station.

Magen David Adom ambulance service confirmed that multiple people were injured in what appears to be an attack.

Earlier, the President of the United States, Joe Biden, stated that he had convened a national security team, alongside the Vice President, to discuss Iranian plans to launch an imminent missile attack against Israel.

“We discussed how the United States is prepared to help Israel defend against these attacks and protect American personnel in the region,” Biden said.

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