Business
Mbah Ships Coal Camp Auto Parts Market To 9th Mile
The Enugu State government has announced the construction of a new International Motor Spare Parts and Allied Trades Market, at 9th Mile for the use of traders currently at Coal Camp, Enugu.
This announcement was made by the Managing Director, Enugu State Investment Development Authority, Dr. Sam Ogbu-Nwobodo during a meeting with the expanded leadership of the Enugu Motor Spare Parts and Allied Trades Association, Coal Camp, Enugu.
It was gathered the traders have welcome the development, with some of them hailing Governor Peter Mbah over the move.
According to Ogbu-Nwobodo, the market was sited at 9th Mile, along the Enugu-Onitsha expressway in line with the electoral promises of Gov Mbah.
Gov Mbah had promised traders at Coal Camp that his administration would build a world-class market for them.
He further regretted that the present condition of the traders at Coal Camp was pathetic and prone to environmental hazards, stating that no business could thrive in such an unconducive environment.
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“The present condition of the traders at Coal Camp is nothing to write home about. During the last campaign period, they asked the state government to provide them with a more conducive environment that could accommodate all of them. Today, as we speak, work has commenced on the site. The governor is fulfilling the promises he made to the traders, and he is relentless in making sure that their businesses grow,” he said.
On the key facilities that would be in place, he Ogbu-Nwobodo, “It is going to be an ecosystem that supports modern businesses, commercial and light industrial activities. There will be facilities like modern shops and warehouses, police post, fire protection architecture, sufficient conveniences, banks, parks, school, health facility, union centre, recreational facilities, and other things that will enable business growth.”
Ogbu-Nwobodo added that the choice of 9th Mile was strategic because it is a major business hub in the state and the building of the market there would give more impetus for further development around the area, adding that it would create easy access for shoppers coming from the Northern States, Ebonyi and Cross River states, Central Africa, and other locations, saving dealers the stress of navigating through the city before offloading or exporting their goods.
“9th Mile is a major business hub in the state, and this will give more impetus for further development around the area. We should equally recall that there is already a free trade zone built by the state in the area. This site will accommodate all the traders and leave more room for expansion in the future,” Ogbu-Nwobodo said.
On his part, the President, Enugu Motor Spare Parts Dealers Association, Chief Mike Nomeh, said that Enugu had had numerous administrations which did not treat the welfare of traders at Coal Camp with the priority it deserved.
According to him, the relocation of the market was long overdue as they had written to past administrations to look into their welfare, appealing to the Gov Mbah to ensure the speedy delivery of the market as their present location at Coal Camp called for mercy.
“We have been praying for this since previous administrations, but thank God a visionary governor is fulfilling his promises to us. We are looking forward to finding ourselves in this promised land. All the traders at Coal Camp were very happy to receive this news because we have been suffering for a long time. We have suffered neglect in that Coal Camp, and I tell you that everyone is happy with this move by the governor to relocate us to a better place. We are so much grateful to His Excellency,” the president said.
On his part, Eze Benjamin, a sectional/line chairman at the Coal Camp, applauded the governor for the initiative.
He said he had spent over 30 years at Coal Camp and had been yearning for adequate accommodation for all the traders, adding that what was happening was like a dream.
Following the marginal reduction of the pump prices of premium motor spirit (PMS) by the Dangote Petroleum Refinery and the Nigerian National Petrol Company Limited (NNPC Ltd), civil society groups have reacted by calling for further downward review.
Recall that the Dangote Petroleum Refinery had announced a partnership with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, while it reviewed the ex-depot price from N970 to N899.50 per litre.
The move, saw state oil major, the Nigeria National Petroleum Company peg its retail prices at N965/litre.
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However, the civil society groups are of the opinion that the price reduction, fall short of expectations.
According to the Chairman, Centre for Accountability and Open Leadership, Debo Adeniran, the reduced price of N935/litre was still expensive and unsatisfactory.
He pointed out that petrol was just one of the products coming out of crude and that both government and private business could still give out free petrol to citizens while making huge profits from the other products.
In his words, “Well, we believe that if NNPC and the private sector actually give out PMS for free, they will still not run their business at a loss, because the other derivatives of petroleum products can still serve them, and can still make them to break even. So, even at that N900 and something, it’s still expensive.
“Dangote has kind of mooted the idea that it could drop to as low as N650. And if he has mulled this, then it means that it is the state, it is the NNPC that will have been the clog in the wheel of such progress. And you know also that we expected that fuel prices, especially PMS prices, will drop below N200 when Dangote was expected to come on stream.
“So, it’s unfortunate that we are still talking about over N900 and they want us to jump up and rejoice for that. That is not satisfactory. They should just let us see the breakdown of their production cost and why it’s still there. I mean, there are countries like Libya under Gaddafi that gave out PMS for free and they didn’t run anything at any loss. So, I believe that it can still go further down.”
On his part, the Executive Director of the Civil Society Legislative Advocacy Centre, Ibrahim Rafsanjani, commended the reduction of fuel prices by the NNPC and Dangote, but said the government could still reduce the price.
“Dangote’s own is about N899 or something like that. Well first and foremost, we are happy that there is a little reduction in the prices. But also based on analysis and based on facts and evidences, we believe that it is possible for the Nigerian government to further reduce the prices.
“Because if a private company can reduce the price and it still makes profit, we wonder why government-owned enterprises cannot really pity its citizens,” he said.
The Central Bank of Nigeria (CBN) has announced a significant growth in the country’s economy, with a 3.46% increase in gross domestic product (GDP) in the third quarter of 2024.
This marks the third consecutive quarter of expansion, up from 3.19% in Q2 2024 and 2.54% in Q3 2023.
According to the newly published Q3 economic report, Nigeria’s GDP output rose to ₦20.115 trillion, reflecting a notable improvement from ₦18.285 trillion in the previous quarter.
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The CBN attributed this growth primarily to the performance of the non-oil sector, which grew by 3.37% compared to 2.80% in Q2 2024.
The report highlighted transportation, crop production, and other sub-sectors such as financial & insurance services, information & communication, trade, and real estate as major contributors to the expansion.
The non-oil sector accounted for 3.18 percentage points of the total growth rate.
“The expansion of the non-oil sector was driven by the performance of the financial & insurance, information & communication, crop production, trade, transportation & storage, and real estate sub-sectors,” the report stated.
Despite the economic growth, challenges persist. Inflation, particularly in food prices, remains a significant concern, standing at 39.93% as of November 2024.
Rising food and energy costs have also impacted transportation expenses, with intercity bus fares increasing by 20.23% year-on-year to ₦7,117.17 in July 2024, according to the National Bureau of Statistics.
Furthermore, the cost of petroleum, now exceeding ₦1,000 per litre, has driven up logistics and transportation expenses, adding pressure to households and businesses alike.
The CBN acknowledged these challenges, noting that the growth was achieved despite headwinds such as high inflation and rising operational costs.
Enhanced security measures in the Niger Delta have boosted domestic crude oil production, while restrictive monetary policies have helped moderate inflation in some areas.
“The growth recorded in the country is a result of continued efforts to improve the business environment, streamline cumbersome business processes, and deepen the quality of business infrastructure,” the CBN noted.
However, the report comes amid concerns over businesses exiting Nigeria due to persistent economic challenges.
Asharami Synergy, a leading downstream energy solutions provider, has demonstrated its commitment to community development and education by donating essential furniture to Gaskiya Junior School in Ijora, Lagos, Nigeria.
Biztellers reports that the social responsibility initiative was executed in collaboration with Sahara Group Foundation – the social impact vehicle of global energy conglomerate, Sahara Group.
It was gathered that the initiative is part of Asharami Synergy’s ongoing efforts to support education in communities.
The donation includes classroom desks and chairs for the JSS1 classes.
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CEO of Asharami Synergy, Nomnso Dike, said the project will create a more comfortable and functional learning environment and enhance student performance.
“We are delighted at the opportunity to support the attainment of Sustainable Development Goal (SDG) 4, which focuses on ensuring inclusive and equitable quality education. It has been a privilege to collaborate with the management and students of Gaskiya Junior School to deliver this project, and we look forward to future opportunities to enhance academic performance in this historic institution,” Dike said.
According to him, Asharami Synergy’s education-focused social impact initiatives have benefitted over 10,000 individuals. They focus on building capacity and providing the resources necessary to help students learn and grow sustainably.
“Education is the foundation of a brighter future, and at Asharami Synergy, we believe that every child deserves a learning environment that inspires and empowers them” he noted, adding, “This donation is not just about providing furniture; it’s a reminder to the students that their dreams are valid, and we are committed to helping them achieve their goals.”
Vice Principal Academic of Gaskiya Junior School, Sola Oladokun, commended Asharami Synergy for the donation, noting that it would inspire students to perform better with “increased concentration and fewer distractions”.
“These desks and chairs are a game-changer for our students. It’s heartwarming to see their excitement, and as teachers, we are equally thrilled because this will make teaching and learning more effective. We are incredibly grateful to Asharami Synergy and Sahara Group Foundation for this thoughtful intervention,” she added.
Two representatives of the students, Akin Moses and Chukwudi Gift, at the event said the donation would increase their “desire to dream bigger and concentrate better during lessons”.
Also speaking at the commissioning, COO at Asharami Synergy, Adekanmi Adesola, said, “What started as an opportunity to support the communities that host our operations has now come full circle. This donation directly impacts the lives of these students, and we are proud to bring smiles to the faces of the students and teachers.”
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