₦airaland Forum

CFCfan: @ Olumide: I want the regions to control their natural resources. But it has to be a gradual process; let 50% be a start.

k2039: [color=soyouquotedme]When did UNILAG become Fasola's property, I think you meant LASU. [/color]

Lobolintin: based on psychological observatn and consumptn... Lik countles africa countries nw produce oil at comercial quantiy.

naptu2: Oshie Gas Flare, Niger Delta.
https://photos-c.ak.fbcdn.net/hphotos-ak-prn1/67207_490399227789_4916212_n.jpg

Dagogo Joel's arm was burned by the Oshie gas flare when he was a child. The flare--lit since early 70s and adjacent to Joel's home village of Akaraolu -- occasionally spews out flaming liquids on the countryside, and burned Joel's arm while he was fishing with his father.

naptu2: "Oil farming" in the Niger-Delta
https://photos-h.ak.fbcdn.net/hphotos-ak-ash3/68706_490187472789_341332_n.jpg

That's not water, it's crude oil.

naptu2: Lagos oilfield to start production in 2014

January 2, 2013 by Stanley Opara ⁠35 Comments


By 2014, oil is expected to be produced for the first time offshore Lagos State from the Aje gas and condensate field, which lies in Oil Mining Lease 113 in the Benin Basin, about 43 kilometres offshore Lagos.
http://www.punchng.com/news/lagos-oilfield-to-start-production-in-2014/

mapet: really? based on what scientific or economic evidence

NoiseMaker1:
Fashola don blow be dat. He no go look face @all

naptu2:
Re-Barkin Zuwo comment:

Barkin Zuwo was governor of Kano (I think he was also a senator at one time). He was the only northerner who supported increased derivation % for states during the debate about increased derivation % for the states (2nd republic).

Surprised journalists cornered him afterwards and asked him why he supported increased derivation % for states when his state had no minerals. He replied, we have a lot of minerals like coke, fanta, etc.

otokx:
when are we going to stop talking about future castles in the sky?

mfm04622:
What was the context? Did he not understand the mineral or was he joking?

ignis:
This is 2021, Have they started ?

naptu2:
Chief Wahab Iyanda Folawiyo, the Baba Adinni of Nigeria


The late Baba Adinni of Nigeria, Chief Wahab Iyanda Folawiyo, was a member of the donation circuit. He was one of the wealthiest Nigerians of the 1970s, '80s and 1990s and he donated enormous sums of money to charity. He also had a noticeable impact on the development of Lagos State, both through his business activities and through his philanthropy.


Chief Folawiyo attended the University of North London in 1951, where he read Management, specialising in Ship Brokerage. In 1957, he founded Yinka Folawiyo & Sons, which has become the parent company of the Yinka Folawiyo Group of Companies. The group imported cement and sugar from the former Soviet Union, then later introduced building materials from Romania and Bulgaria into the Nigerian market. In 1967, the firm was incorporated as a limited liability company. When Folawiyo and Sons' revenues increased, the firm began chartering vessels to bring in commodities including cement, building materials, frozen fish and fertilizer.


Shipping

To provide logistics support for the firm's trading operations, the group established Maritime Associates (International) as a vessel chartering, clearing and forwarding company. The company was later invited to bid for shipment of agricultural produce from Nigeria to Europe. In 1972, the group established Green Lines shipping company when demand for chartering of ocean liners increased. M.V. Ahmodu Tijani, a 10,826 dead-weight ton carrier was purchased in 1973 as the first ocean liner. By 1980, the firm owned six vessels and had joined the UK/West Africa Lines Joint Service and the Continental West Africa Conference. In the 1970s, regular service was provided between Hamburg/Antwerp and Lagos. The firm later acquired M.V. Bello Folawiyo and M.V. Yinka Folawiyo in the mid 1980s.

Trans-Atlantic International Lighterage was established in the 1970s, it operated within the Lagos Port Complex providing lighterage service with the use of pontoons and barges.

This (shipping) was the business that Folawiyo was most famous for.


Other businesses


In 1971, the United Property Development Company was founded as a real estate investment vehicle. The Nigerian Spanish Cement Company was founded as a bulk cement bagging operation with its own deep water berth. The firm also invested in farming projects across the country including a rice farm in Rivers State which was established as a cooperation between the group and the Rivers State government. The firm also owned farm estates in Oyo involved in livestock and cultivation of fruits.


Electricity and the Lagos Power Project

In 1999, Yinka Folawiyo Power, a subsidiary of the group entered into a partnership with Enron for the development of an independent Power Project. This was the first privately funded power project in Nigeria since the country's independence and after legislation liberalized the sector in 1998. The 270 MW plant became operational in 2001, by then Enron had sold its remaining equity to AES and the Folawiyo Group.

The power plant is located on a barge which is moored off the shores of Ikorodu, near the Egbin Power Station. It is a thermal power plant and it receives gas from the Escravos-Lagos pipeline system. At the time only the National Electric Power Authority (NEPA) was permitted by law to sell electricity to consumers. The Lagos State Government said that it had a deal with NEPA that the power that was generated on the barge would be distributed in Lagos. However, the power was actually fed into the National Grid when the plant became operational.


Crude oil and the Lagos Aje Oil Field


In 1982, the group incorporated a natural energy company, Yinka Folawiyo Petroleum, to focus on gas recovery and gasoline sales. In June 1991, the company was granted an Oil Prospecting License (OPL) 309 as a Sole Risk Contract under the Nigerian government's Indigenous Allocation Programme, put in place to encourage the development of a locally owned and operated Nigerian upstream Oil industry.

Yinka Folawiyo Petroleum owns a 60% interest in the Aje Oil and gas field on OML 113, 24km offshore of western Nigeria. The field is located off the coast of Badagry in Lagos State.

In 2016, Yinka Folawiyo Petroleum announced its first production of crude oil from the Aje Field, the first producing field outside of the Niger Delta in Nigeria.


As a result of the good standing of the company and its commitment to develop the gas potential of the field, the authorities renewed in August 2018 the OML 113 license for a further period of 20 years.


Video: The managing director of the Folawiyo Group, Mr Tunde Folawiyo, visited Governor Akinwunmi Ambode at Lagos House Marina in 2016 to inform him that production had started at the Aje Oil Field and that Lagos had become an oil producing state.


https://www.youtube.com/watch?v=a-TC1UGBDDA


An overflight of the Aje FPSO (Floating Production Storage and Offloading facility).

https://www.youtube.com/watch?v=SgbOdwk84dA


Century Aje

https://www.youtube.com/watch?v=JQWXtLcg3PE



Folawiyo Energy is a midstream Oil and Gas Company focusing on delivering storage solutions for refined fuel products through its privately owned deepwater jetty in Lagos, Nigeria.


Enyo Retail & Supply was established in 2016, following the growing liberalization and evolution of oil and gas industries in Nigeria. It owns a chain of fuel stations across the country.


Philanthropy

Chief Wahab Iyanda was a member of the Donation Circuit.

[quote author=naptu2 post=69122609]The donation circuit was not a formal organisation, but it’s the way that I refer to a phenomenon that occurred in the late 1980s and early 1990s (the Babangida era).

Some of Nigeria’s wealthiest men were often invited to specific events in which they donated large sums of money. These events included fund raising in churches and mosques, university convocations, book launching and fund raising activities by universities, secondary schools, community development associations and charities.

It was usually the same set of people that were invited to these events. The president was usually the special guest of honour (when he was invited), the governor was usually the chief host, the head of the institution was usually the host, Chief Abiola was usually the chief launcher and other members of the donation circuit were usually special guests.

There was a day that I watched the 9 o’clock news and there was an advert for one of these events and the invited guests were listed. There was another advert immediately after and the list of invited guests was almost exactly the same as the list in the previous advert.

ignis:
This is 2021, Have they started ?

naptu2:
Picture 1) Princess Abba Folawiyo.

Picture 2) The former assistant secretary for African affairs, Linda Thomas-Greenfield, visited the AES Barge power plant. Mrs Thomas-Greenfield is now the US ambassador to the United Nations.

Picture 3) Enyo Filling Station

Picture 4) Aje FPSO

ignis:
This is 2021, Have they started ?

naptu2:
Mr Tunde Folawiyo presenting Governor Akinwunmi Ambode with a bottle of crude oil from the Aje Oil Field in 2016.

https://guardian.ng/news/lagos-officially-oil-producing-state-says-ambode/

gratiaeo:
Me i no no say oil de hungry Yoruba people... But wait oo na for only paper una oil field dey
Make laugh no kill me abeg!!!

UselessBuhari:
Naptu2 the Tinubu propagandist, how far?
This is seven years later

Throwback:
As an oilfield professional, I was involved in a very significant part of the well development for Aje 5 well on the Eni Scarabeo-3 semi-submersible rig. That was in H2 2015.

The Aje offshore oilfield is just off the coast of Badagry, and about 20mins chopper flight from Caverton helipad at the airport in Ikeja.