₦airaland Forum

Wale Edun, minister of finance and the coordinating minister of the economy, says the federal government plans to start selling state-owned assets to private investors in 2026.

According to Bloomberg, Edun spoke on Monday during an interview on the sidelines of the AlUla conference for emerging market economies in Saudi Arabia.

He said the government is currently working on determining which assets will be offered for sale and the timelines for the transactions.

The plan is to offer some assets in 2026,” the minister said.

“What we have put in place has made Nigeria very competitive in terms of the economic conditions and very attractive in terms of the incentives for investors. I think investors are now more comfortable to invest in Nigeria.

“We are interested in private public partnerships, optimisation of our assets by having others come in and invest.”

On January 22, Edun said Nigeria is pursuing a job-rich and inclusive growth, noting that investment remains critical to boosting productivity and expanding the economy.

The minister said the West African giant is still on the path of economic reforms aimed at restoring policy credibility and macroeconomic stability.

olaiya2007:
Start with all the refineries... They need to be put on sale to private investors

olaiya2007:
Start with all the refineries...

They need to be put on sale to private investors

valentineuwakwe:
First thing is the four refeneries...

Presidential fleets......

National stadiums in Lagos and Abuja....

National theatre, iganmu

Possibly Aso Rock

FineUsername:
Those useless REFINERIES should be number 1.

anonimi:
How Indorama sustains manufacturers, boosts Nigeria’s FX earnings

Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.

The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.

Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.

The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.

The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.

https://businessday.ng/real-sector/article/how-indorama-sustains-manufacturers-boosts-nigerias-fx-earnings/

vicfajeze:
Baba Tinubu is really trying,a round applause for him

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.


https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-



https://www.youtube.com/watch?v=4JH8CC_JdUA

anonimi:
Is that why Nigerians should unite with PDP politicians who have consistently supported, promoted and practiced deregulation and privatisation policies? The policies that gave us 16 years of widespread prosperity, less debt and less insecurity due to high employment rates and productivity keeping people too busy to be available for terrorists to recruit.

Elusive001:
Those who condemned Atiku will now make a U-turn

olaiya2007:
Start with all the refineries... They need to be put on sale to private investors

SlavaUkraini:
https://www.thecable.ng/wale-edun-says-fg-will-commence-sale-of-state-owned-assets-in-2026/

RichBoy247:
.
Atiku sold over 100 companies

erniok:
The question is who go buy. Those refineries are outdated technology wise.

esnbrutality:
Bloody liars ..

You guys are shameless...

List the 100 companies... shameless people

jamafa:
PDP created the problem we have now

Economy wasn't stable under PDP

No infrastructure development

Insecurity everywhere. Even at state level. Oyo state as a case study. It's under our watch that a serving governor was removed by mere thug then.

PDP is never a better party ✅

anonimi:
Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

KingRabota:
Make them kukuma auction am on Temu
And give all man him share

erniok:
The question is who go buy. Those refineries are outdated technology wise.

erniok:
The question is who go buy.

Those refineries are outdated technology wise.

Princecalm:
Jul 29, 2015

The Nigerian National Petroleum Corporation has announced that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month rehabilitation exercise conducted by its in-house engineers and technicians.

The corporation, in a statement, noted that both plants commenced preliminary production of petroleum products after successful test-runs, adding that while PHRC was ramping up its operation to about 60 per cent of its 210,000 barrels per day capacity, WRPC production was projected to hit 80 per cent of its installed 125,000bpd capacity.

The NNPC said the Port Harcourt refinery was projected to boost the nation’s local refining capacity with a product yield of five million litres of petrol per day, while Warri refinery would contribute 3.5 million litres of petrol.

Providing insight into the rehabilitation exercise, the NNPC noted that it had to adopt the phased rehabilitation strategy after the Original Refinery Builders, who were initially contacted for the project came up with unfavorable terms.

It said, “Though a decision was taken in 2011 to rehabilitate all the refineries using the ORB of each of the refineries, we were impelled to switch strategy after the ORBs declined participation and nominated some partners in their stead who came up with outrageously unfavorable terms.”

The NNPC stated that the nominated partners, as sole-bidders, came up with humongous price offers after two years of thorough and exhaustive scope of work definition and price negotiations.

It added that the proxies were also unwilling to provide post rehabilitation performance guarantees.

The corporation said, “The phased rehabilitation strategy which entailed phased and simultaneous rehabilitation of all the refineries using in-house and locally available resources in line with the spirit and letter of the Nigerian Content Law, also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.”

The national oil firm said the phased rehabilitation programme, which started in October 2014 after the required funding stream was established, created a 70 per cent reduction in costs which helped largely in mitigating the financing challenges of refinery rehabilitation.

It observed that with the successful re-streaming of the PHRC and WRPC, attention has now moved to the 110,000 barrels per day Kaduna Refining and Petrochemicals Company which was billed to come on stream soon.

http://www.punchng.com/news/pharcourt-warri-refineries-commence-preliminary-operations-nnpc/

saintopus:
Dec 06, 2024
The PH Refinery ships its first export of petroleum products to Dubai.
The company is expected to load the cargo in the coming days onboard the Wonder Star MR1 ship, signalling the commencement of operations at the plant and the exportation of petroleum products.

The ship will load 15,000 metric tons of the product, which translates to about 13.6 million litres.

Although the volume coming from the NNPC into the global market is still small, the development has the potential to impact the Very Low Sulphur Fuel Oil (VLSFO) benchmarks in the future while changing the market realities for Atlantic Basin exporters into Nigeria and other regions.

The sulfur content of the export by NNPC stands at 0.26 per cent per wt and a 0.918 g/ml density at 15°C, according to Kpler, a data and analysis company.

The cargo was reportedly sold at an $8.50/t discount to the NWE 0.5 per cent benchmark on a Free on Board (FOB) basis.

Kpler reported that the development would help displace imports from traditional suppliers in Africa and Europe, as Nigeria’s falling clean product (CPP) imports are already decreasing, dragging imports into the wider West Africa region lower as well.

https://guardian.ng/energy/nnpc-begins-export-from-ph-refinery-as-dubai-firm-buys-first-cargo/

olaiya2007:
Start with all the refineries... They need to be put on sale to private investors