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Jonathan, Daukoru laud NCDMB as ERASKON launches factory in Bayelsa
Former President Goodluck Ebele Jonathan and the former Minister of State for Energy and current chairman of Nigeria LNG Board, King Edmund Daukoru have applauded the Nigerian Content Development and Monitoring Board (NCDMB) for the effective implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and the huge impact it had made on the economy.
They spoke on Thursday in Yenagoa, Bayelsa State during the groundbreaking ceremony of a 64,000 litres per day lubricants blending plant being developed at Gbarain, Bayelsa State by ERASKON Nigerian Limited in partnership with the NCDMB.
Former President Jonathan had signed the NOGICD Bill into law in April 2010 when he was in office and he extolled NCDMB under the leadership of Engr. SimbiKesiyeWabotefor the outstanding successes it had accomplished, notably for catalysing the industrialization of Bayelsa State through the deliberate domiciliation of strategic oil and gas projects and capacities. Some of these include the 12,000barrelsper day (BPD)Azikelmodular refinery and the 2,000bpd Atlantic modular refinery, Rungascomposite LPG cylinder manufacturing facility at Polaku, the oil and gas industrial park at Emeyal-1 and the Board’s 17-story headquarters building.
2nd Left, former Minister of State for Energy and Amayanabo of Nembe Kingdom in Bayelsa State, King Edmund Daukoru; Executive Vice Chairman of ERASKORP Nigeria Limited, Mr. Maxwell Oko; former President Goodluck Ebele Jonathan commending the Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote for the outstanding successes it had accomplished with the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
Others are the partnership with a core investor and the Nigerian National Petroleum Company (NNPC) Ltd for the development of 10,000metric tonnes per day methanol production plantin Brass,the development of the Brass Island Shipyard to domicile the repair and maintenance of vessels and LNG carriers and the partnership with NNPC and a core investor for the development of a coastal petroleum products terminal in Brass, Bayelsa State as well as the construction of the Oloibiri Oil and Gas Museum and Research Centre in Ogbia LGA of the state in collaboration with PTDF, Shell, and the Bayelsa State Government.
In his comments, King Daukoru,Amayanabo of Nembe Kingdom in Bayelsa State, who had previously served as the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC) and Group Managing Director of NNPC, expressed delight thatNCDMB’s interventions were transforming Bayelsa state into a haven for value addition in the oil and gas industry and changing its reputation of just being a base for commodity export, with no industrial base. He hinted that the number of derivatives and linkages from the oil industry was limitless, and they create opportunities for employment and economic advancement in the polity. He charged stakeholders of the state and host communities to support investors and companies in their domain and refrain from burdening them with onerous demands, so they can thrive sustainably.
Former President Goodluck Ebele Jonathan assisted by Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote performing the groundbreaking ceremony of a 64,000 litres per day lubricants blending plant being developed by ERASKON Nigeria Ltd in partnership with NCDMB, at Gbarain, Bayelsa State
In his address, the Executive Secretary of NCDMB, Engr. SimbiKesiyeWaboteexplained that the partnership with ERASKON was in line with the Board’s mandate of developing local manufacturing capacity, providing employment opportunities, and increasing local content in the Nigerian oil and gas industry and linkage sectors.
He hinted that Section 70(h) of the NOGICD Act of 2010 mandates the Board to assist local contractors and Nigerian companies to develop their capabilities and capacities to further the development of Nigerian Content in the oil and gas industry.
He remarked that Nigeria’s in-country manufacturing capacity for lubricating oil falls far below the consumption, hence the shortfall is met through importation, resulting in loss of revenue and job opportunities.The ERASKON facility will produce approximately 64,000 litres of lubricants per day and more than 20million liters of products a year, becoming one of the largest lube plants in the country, with the capacity to serve the Niger Delta region and beyond.
According to the Executive Secretary, no lubricant blending plant exists currently in Bayelsa State and ERASKON decided to domicile and domesticate the production and thereafter submitted proposals to the Board, which was approved after a diligent review of the technical and commercial viability.
He confirmed that the blending plant would be beneficial to the host community, state, and the neighbouring states through meeting their needs for lubricant products as well as providing direct, indirect, and induced job opportunities.
The Executive Vice Chairman of ERASKORP Nigeria Limited – the holding company of ERASKON lubricants, Mr MaxwellOko confirmed that the plant would on completion produce high-quality engine oils, transmission fluids, hydraulic fluids specialized four-wheel-drive products, engine coolants, and speciality products such as waxes.
In the second phase of development, the company would go into the manufacturing of industrial chemicals such as drilling and production chemicals as well as transformer and turbine oil,in addition to household products such as detergents and aerosols, he added.
On why the project was sited in Bayelsa State, Okosaid the lubricants facility is making a huge impact in the lives of the communities, promoting development, creating employment and empowering Nigerians. It would also develop local manufacturing capacity and increase local content participation in the industry, he said.
He stated that the blending plant is co-located with the Shell Gas processing facility, Azikel Refinery, the 550MW NationalIntegratedPowerPlant (NIPP) and the transmission station as well as the NCDMB Gas Park. He hinted that “an industrial hub is quietly emerging along the River Nun corridor in the Niger Delta, and we are very excited to be part of the new, bold and innovative story being written. This project will be an important factor in changing the narrative about the Niger Delta.”
The President of the African School of Governance, Kingsley Chiedu Moghalu has admonished state actors against resorting to brutal force in the bid to muscle out separatist agitators.
In the aftermath of Mazi Simon Ekpa, the Finland based Biafran nationalist agitator being caught in legal web and the Nigerian government moving swiftly to seek his repatriation, the former deputy governor of the Central Bank of Nigeria (CBN) has cautioned that ‘We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.’
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The political economist, while expressing his hope in Nigeria, made it clear that “hope is not a strategy”.
He bared his mind in a series of posts on his verified handle on micro-blogging site, X on Friday.
Moghalu wrote, “Despite sustained contemporary difficulties, I am hopeful about Nigeria. But hope is not a strategy. We need to improve state capacity for effective governance.
“We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.
“We must learn to be honest with ourselves and address the root causes of our problems. Why ignore them, when the problem is actually quite solvable? The problem with continuing with this approach is that when the danger crystallizes, those who thought they were benefiting from
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.
The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.
In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”
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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.
Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.
The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.
With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.
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