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Osinbajo Commissions Fertilizer Plant, BUA Cement Factory in Edo

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  • Osinbajo Commissions Fertilizer Plant, BUA Cement Factory in Edo

Vice President, Yemi Osinbajo on Tuesday inaugurated the 60,000 metric tonnes per annum Edo State Fertilizer Plant, Auchi; and a two million metric tonnes per annum BUA Cement Plant at Okpella,in Etsako West and Etsako East Local Government Areas of the state.

Inaugurating the BUA cement plant, the vice president said: “The construction of this plant is of course a big boost to the Nigeria economy, it will provide thousands of direct and indirect jobs both for skilled and unskilled workers from the commencement of the construction of the plant to the smooth running of the operations process.”

According to him, at the level of production obtained, it also means the consolidation of the Nigeria’s self-sufficiency in cement and a big boost to our export capacity.

“I am happy to note that for the construction of power production facility for this plant, the BUA group has used the most modern and efficient gas turbine which combines low and economically value cost with a very high degree of reliability.”

In Auchi, Osinbajo inaugurated the Edo Fertilizer Plant and Chemical Company Limited, a public, private venture which has the capacity to produce about 60,000 metric tones of fertilizer per annum.

The vice president who was accompanied by the Ministers of Agriculture and Rural Development, Chief Audu Ogbeh; and Industry, Trade and Investment, Dr. Okechukwu Enelamah, commended the foresight of the Edo State Governor, Mr. Godwin Obaseki, for creating the enabling business environment which saw to the revitalisation of the fertilizer plant which had been non-functional for about 14 years.

Osinbajo expressed delight at the 500 direct jobs that have been created by the investment, stressing that much more employment opportunities would result from the ancillary economic activities that would be generated by the fertilizer plant.

Commending the governor for having the right attitude to development, he called on leaders across the country in different areas to dedicate themselves to activities that will improve the lot of their people.

“The President Muhammadu Buhari administration is committed to making it easy for investors to do business in the country. We want to achieve this through the promotion of transparency and efficiency. We want every state to be involved in this drive and create the enabling environment for business to thrive in their domain,” Osinbajo said.

He said the revitalisation of fertilizer blending plants across the country was the direct consequence of the presidential initiative to diversify the economy from crude oil, boost farming activities as well as develop the agricultural value chain.

The vice president added that agricultural activities in the country could be enhanced significantly if there was improved access to inputs, hence the drive to make fertilizer which is a major farm input, easily available and accessible to farmers in Nigeria.

Osinbajo explained that the blending plant would also complement Obaseki’s agricultural development initiative which is aimed at improving investment in agriculture via public private partnership (PPP) as well as creating jobs for youths across the three senatorial districts of the state.

In his remarks, Obaseki said the inauguration of the fertilizer plant signified a milestone in his administration as the facility was never operated for a day after it was fraudulently launched by the opposition party about 14 years ago.

He said what the opposition could not do for nearly a decade, his government, with the support of the Edo people, has done it in only about nine months.

The governor said: “The aim of revitalising this plant is to make the state self-sufficient in food production and enable farmers get fertilizer at affordable prices. We in Edo State are determined to make food available in the country.”

He added that the facility would go a long way in providing fertilizer for neighbouring states such as Kogi, Delta, Ondo and Anambra, among others as it was the only blending plant in the region.

Obaseki commended the leadership role played by the federal government in the execution of the Presidential Fertilizer Initiative as well as the management of WACOT for partnering the Edo State Government in revamping the plant.

“This achievement is an open call to other investors to bring in new technology, create more jobs and expand our economic opportunities,” he said.

The governor called on the traditional ruler, Otaru of Auchi; the community where the plant is located, to ensure the protection of the facility against vandalism as it creates a large range of opportunities for businesses in the community and the state.

Also speaking the Group Managing Director of WACOT, Mr. Rahul Savara, commended the Vice President for ianuguration the plant and governor Godwin Obaseki for fostering the partnership between the state and his company.

He said the presidential fertilizer initiative has made local production feasible and sustainable in the country, assuring that the Edo Fertilizer and Chemical Company would be made up of 95 per cent indigenous workers.

Speaking of the numerous benefits of having a fertilizer blending plant in the state, the Deputy Governor of Edo, Rt. Hon. Philip Shaibu said: “Many jobs will be created, it will boost business activities, farmers will no longer go through undue hardship before they get fertilizer to buy and productivity will increase. We are keying into the federal government policy to make fertilizer affordable and available in the country.”

In his remarks, the Otaru of Auchi, Alhaji Aliru H. Momoh, Ikelebe the III, said the inauguration of the plant demonstrates Governor Obaseki’s zeal to improve the economy as well as industrialise the state.

“The governor brought in people to revamp this plant and told us at the palace that within three months, it will become functional, we taught it was a joke, but thanks to Allah that we are here to witness the commissioning of the plant,” the traditional ruler said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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