₦airaland Forum

Owerri Chamber to train 100 entrepreneurs on SMEs
By Our Reporter June 14, 2015

Owerri Chamber of
Commerce, Industries, Mines,
and Agriculture, OCCIMA
plans to offer training to
100 budding entrepreneurs
on the establishment and
management of Small and
Medium Enterprises, SMEs.
President of OCCIMA, Mr.
Kevin Mbawuike disclosed
this in an interview with the
News Agency of Nigeria,
NAN in Owerri, said that the
six weeks skills training was to
impart on the entrepreneurs
quality knowledge to drive
their ventures.
Mbawuike explained that
first phase of the training
would hold before the end of
June in partnership with the
Central Bank of Nigeria, CBN
and Bank of Industry, BoI.
According to him, the
participants will undergo
training in planning,
products, human resources
and fund management as well
as marketing.
“Acquisition of skills is the
driving wheel for accelerated
economic growth and wealth
creation, and the youths must
embrace this new order,’’ he
said.
Mbawuike said
entrepreneurs must have
proper knowledge of the
sector, in order to operate
viable SMEs and contribute to
national development.
The OCCIMA president
called on the people to take
advantage of government
funding initiatives under
the BoI, CBN, Micro, SMEs
Development Bank.
He however urged
government to make access
to land easier, to encourage
investment, job creation and
reduction in the high rate
of misconducts among the
youths.
Mbawuike also called on
the federal government to
make the machine leasing
project of the BoI more liberal,
adding that the present policy
was difficult for up-coming
businesses.
“There are many conditions
for people wanting to lease the
machines through the BoI and
such policies are adversely
affecting fresh people wanting
to hire the machines for
business purposes,’’ he said.
He said that it required
committed and exemplary
leadership to change the
direction of people and urged
President Muhammadu
Buhari to muster the political
will to uplift the nation’s
economy

http://nigerianpilot.com/owerri-chamber-to-train-100-entrepreneurs-on-smes/

New owners to inject N15bn in Geometric Power
1
By Our Reporter on July 10, 2015 Business

…As AMCON, banks sign new TIA

By BLAISE UDUNZE

Geometric Power, owners of Aba Integrated Power Project (IPP), has entered into a new Transaction Implementation Agreement (TIA) with its creditors.

The creditors include Diamond Bank Plc, Asset Management Corporation of Nigeria (AMCON) and Stanbic IBTC Bank Plc, pursuant to which Afrigem Integrated Utilities Limited becomes a core investor in the integrated electricity power project.

Afrigem, a West African focused development and investment company with a 720MW pipeline of energy solutions project in the region, is expected to inject N15 billion into the project, making Geometric Power one of the most capitalised private sector driven power companies in the sub-region.

Nigeria’s first indigenous fully integrated green-field electricity project, the Aba IPP is scheduled for commissioning in November. The agreement signing ceremony, which was hosted by Diamond Bank Plc shows details of the investment of Afrigem in the Aba IPP operating companies, the milestones for the restructuring of the existing debt stock of Geometric Power’s project companies, recapitalisation and also, the restructuring of the company.

These are expected to help fast track the commissioning of the plant to take off in November and start the generation and distribution of electricity power to residents of Aba metropolis.

In its three-year growth plan, the sponsors and Afrigem expect to increase the plant capacity from 141MW to 341MW by 2018.

According to the parties, the capital restructuring agreement will also ensure that the project companies, Geometric Power Aba Limited and APL Electric Limited, have the required capital to deliver reliable power.

According to the details made available to Daily Sun, it will also bring on board the expertise of Afrigem’s team in the operations and management of the Aba IPP while the new capital will be applied towards the commissioning of the project and part payment to creditors with enough left to run the company.

Chairman of Geometric Power Limited, Prof. Bart Nnaji, led the signing on behalf of the project sponsors while Mallam Samaila Zubairu, Vice Chairman of Afrigem, led the signing on behalf of Afrigem Integrated Utilities Limited at the ceremony attended by energy consultants, top bank executives and representatives of the various professional parties.

Speaking at the event, Deputy Managing Director and Chief Risk Officer of Diamond Bank Plc, Caroline Anyanwu, stated that the new agreement signals a huge economic leap in the generation and distribution of electricity energy in Nigeria.

According to her, Diamond Bank is very passionate about the project because of the economic ripple effect that uninterrupted electricity power supply would bring to the numerous Micro, Small and Medium Enterprises (MSMEs) operators in Abia State and the country generally.

“I believe that the immense benefits that this new implementation agreement will bring will make Nigeria a better place especially as it will help boost economic production when the power plant starts generating power soon. We commend Geometric Power, Stanbic IBTC and others that have made this to work today. We also commend AMCON for helping to bear the burden when it was very heavy for us but the coming of Afrigem into this integrated project is a good one for all of us and for Nigeria.”

Prof. Nnaji expressed delight at the new development, while stating that Aba IPP remains the first green-field integrated power project developed by a private indigenous consortium which, upon commissioning, will deliver quality reliable 24-hour electricity supply to industries, commercial enterprises, residents of Aba metropolis and bring huge economic revival in the country.

He said, “I would like to applaud everyone who helped to see this come to pass today. We are very happy that this project is on and with this we will bring power to the people of Aba and we hope to see the economic revival that this provision will bring to Nigeria.”

Samaila emphasised the bankability of the project model as the template for growing capacity of reliable power supply, which will accelerate Nigeria’s economic growth, create jobs and unleash the creative energy of Nigerian youths.

According to him, “the integrated power model is the most productive model that will help Nigeria work; we believe it is the foundation for lighting up Nigeria.”

Head, Strategic Accounts of AMCON, Kamila Omokide, stated that the entry of the new investor marks a “beginning of greatness for the project and for Nigeria,” pointing out that the only panacea to Nigeria’s low production capacity is to allow the private sector to be the major drivers of the economy.

“We greatly believe that the private sector should be the engine of production and investment in this country. Until this is done, we may not be able to realise the productive strength and potential of Nigeria,” Omokide added.

http://sunnewsonline.com/new/new-owners-to-inject-n15bn-in-geometric-power/

Any news concerning obuaku river port and industrial city ? I hope okezie would not abandon it ? he should also follow up with the MoU with Honeywell and other industries

Ponponkon:
Seen! I think this is the best suggestion I've come across on this forum. I will tender it to see if the governor can adopt this approach but you know there Aba Urban Renewal agency on ground and not every manager enjoys interference when assigned to accomplish a task. Anyway,its a suggestion so Let's see how it goes

Mini Dubai springing up in Eastern Nigeria

The Aba Mega Mall has been de­scribed as a mini Dubai springing up in Eastern Nigeria. The project, which cost $300million, has indeed commenced at the heart of Igboland. Ugo Umeseaka, Managing Director of Aba Mega Mall Ltd, owners of the project, spoke to PETER AGBALAKU.

Excerpts”

Sir, I must confess, I am dazed by what I’m seeing here. Who’s the brain behind Aba Mega Mall Ltd?

(Laughing) Ok, Aba Mega Mall Ltd is a brainchild of Greenfield Assets Ltd; Greenfield Assets Ltd is actually the developer of Aba Mega Mall Ltd.

You say the developer of …?

(Cutting me off) Developer of Aba Mega Mall Ltd.

Is this their first project?

No. Greenfield has various projects in the South East. We have projects across virtually from Bayelsa, Rivers, Akwa Ibom – road proj­ects, other infrastructure projects, and power projects in the South-East. And we have some buildings that we’ve done in Abuja, Lagos and indeed all round the country but mostly in the South-East.

Apart from Aba Mega Mall, can you mention specifically any of the proj­ects you have done?

Yes. Before we even go too far, Greenfield is responsible for the 13-kilometre road that leads to the ex-President’s home i.e. 13 kilometres to Otuoke. That’s one of the projects we have in Bayelsa. We’re also responsible for that of bul­let-proofing of NNPC Towers in Abuja.

Ok. So, the whole building is bullet –proofed?

Yes. Anti-shatter glass actually that’s what it’s called. Anti-shatter proofing so that there wouldn’t be any breakages.

What is the concept behind this Aba Mega Mall?

Aba Mega Mall is a concept to move the open-market system into more refined, clean­er, managed spaces. It is just an aspect of what is trending today. It actually represents, gives us an idea and its reflections of the direction Greenfield wants to go.

Greenfield is particularly interested in urban renewal. Our vision is to renew urban centres, improve communities and restart economic ac­tivities in those cities. Our passion beyond Aba Mega Mall is urban renewal. Greenfield is a company focused primarily on urban renewal.

This is your first mega project in this type?

Yes. It is our first flagship project, urban re­newal project among many others that are al­ready on different stages of development. We’re looking at doing the Port Harcourt Enugu-Ex­pressway; we’re about to conclude on what is required to do the Port Harcourt-Enugu axis.


How are these projects funded?

We have our own money. Then we have also partnerships with some foreign investors; then we have our local banks. That’s the structure we have on ground for funding the projects.

What is the worth or projected cost of the Aba Mega Mall project?


We’re also working with Abia State govern­ment – we started with the out-gone govern­ment and we will continue with current gov­ernment to develop a special economic zone in Aba that would have pharmaceutical industries, leather industry (leader cluster) and of course we already have a very strong industry in leath­er – a 60,000-member leather cluster in Aba. And we actually have the mandate with this government to develop a cluster for the leather industry. We’re also working towards develop­ing and industrial cluster for metal industry and the plastic industry.

We’re also looking at the fertilizer, pet­rol-chemical direction as well. We just want to set up a manufacturing cluster where the capacity of Igbo people would be encouraged in the manufacturing area. We want to provide the right environment, the right specifications and the co-ordinating support that is required to enable the South-East and South-South love for industry to be actualized. Our vision is to actually drive this economic empowerment for the South-East through provision of infra­structure, all kinds of infrastructure that would now encourage or release the passion that the Igbo man already has. It’s not that we’re trying to develop something that is not there already. What we’re trying to do is to create the enabling infrastructure that would jump-start and encour­age business activities in Aba. You know Aba people love buying and selling a lot. They have the capacity and also Aba is a very interesting position

Aba Mega Mall is a $300 million project. But we projected that by the date of completion, we would have expended over $300 million.

On Aba Mega Mall alone?

Yes.

Not N300 million, but $300 million?

Yes, it’s a $300 million project.

Is this the total assets of Green­fields Assets Ltd that you are proj­ect or just investment into Aba Mega Mull. I just want to be doubly sure that am hearing right.

No-no-no. That’s the investment we want to bring unto Aba – the total investment we want to bring into that cluster, that Aba Mega Mall.

The industries, the industrial clus­ters you’re talking about including pharmaceutical industries, and so on, are they going to be within the Aba Mega Mall?

No. This is a special economic float. We’re working on identifying at large, we’re talking about 2,000 hectares to 5,000 hectares of land going beyond what we have now. So, for the special economic zone we’re looking at the belt around Imo River where we can also have a waterway.

The special economic zone is a totally dif­ferent project apart from Aba Mega Mall. Aba Mega Mall is what will take $300 million be­cause a lot is going to happen. We’re going to have a licence for a dry port; it is going to be a full-fledged dry port in the Mall. That will make Aba Mega Mall the first mall in the world to have a dry port.

Aba Mega Mall is going to have a 100 to 200 – room hotel, with a 5-Star status. We will have a luxury mall, an amusement park, children’s area, big-screen cinema, facilities and indepen­dent power plant to provide a 24-hour and 24/7 power supply. We’re going to manage the facil­ities plus adequate space for parking all around.

How many stores are you looking at?

We’re looking at 10,000 stores. It may be more but we’re looking at a minimum of 10,000 stores.

You have space for them?

Yes. We have more than enough space for them.

Do you think Aba has the capacity and the economy to drive your proj­ect?

Aba, as a city, has the human resource and the drive; the people are resilient and have the drive we need as a catalyst to handle the project. Aba, as a city, cannot handle it alone; Aba, for instance is a city of about 5 million to 10 million persons and we’re talking about an investment that is way beyond that number.

Aba as we know, is already a centre of trade and commerce for the entire states that I men­tioned – Rivers, Akwa Ibom, Cross River, Imo etc, all of them derive their trade and commerce from Aba. Again, Aba has the ability and capac­ity to go beyond becoming a centre for trade and commerce and also for manufacturing for Nigerian and West Africa.

It’s not rocket science, the day is already here. Our mission is to provide the enabling environment to jump-start what is already here. People ask why not Lagos, why not Abuja and we ask: why not Aba? People also ask why not take this beautiful thing to Port Harcourt or to Ibadan? These people are totally wrong in our own understanding. You can start the process of restarting an economy when the fundamentals are there. In this case, the fundamentals are so ripe; Aba is overwhelmingly ripe for industrial­ization and to champion the industrialization of the South-East, Nigeria and also affect the West African states.

So, the question should be: why not Aba? Aba should be the place where it would happen because it has all these things in place. All we need is something to mix all of these together in the same centre. In Aba we have people who do leather works that you cannot match. We have people that manufacture basic metal works that produce all sorts of equipment, they’re here. Moreover, to trade is a skill, everybody cannot trade. But here in Aba, they can buy and sell and look out for products that people want and then sell them at a profit

We’re not trying to force something new into Aba. We’re actually trying to highlight what is already here. And some people say there is no tribe or no ethnic group that is not represented in Aba – Anambra, Imo, Ebonyi etc, whatever it is they’re all here. If you go to Ariaria, you would see the best of Igbo men and women gathered together trying to drive trade. So, in our eyes, Aba is just like Lagos where you have every ethnic representation. I don’t want to say “No man’s land” but basically we’re saying every­body is here and we’re all here with our best. For what Lagos represents in Nigeria, Aba can represent to the South-East and also to Nigeria, and even to West Africa. That’s over view; that’s our vision for Aba.

This will attract a lot of Igbo in the Diaspora. You have the capaci­ty, from what I have seen on ground and what you’ve been explaining to me. So, what really motivated you to come to Aba, apart from the economic aspect?

Another thing if you ask me, apart from the fact that I grew up in Aba here, I had my early education here, my boss would have gone to an­other direction. He would have gone to Abuja; he could have gone to Port Harcourt. So, having grown up here, I was able to convince my boss, so to speak, that this city is viable.

If you ask me, the principal reason, is that Aba requires urgent renewal. At some point Aba was touted as the “Japan of Africa” and the owners of Greenfield believe that Aba can come back and take that status of the “Japan of Africa”. Aba has the capacity as I have always empha­sised to assume that status. It has potentials and it requires help.

We’re not looking for where it is finished and done. We’re looking for areas where there is still a huge gap and people are hungry. We want to maximize their skills. When we came here and reviewed the factors particularly in terms of skill and location, Aba came up tops. Our project therefore is to affect so many lives and rebuild the community and also to encourage other in­vestors and other industries to come to Aba. I’m sure that if we had only one company in Nnewi for instance, nobody will know Nnewi as a cen­tre of manufacturing. But for the fact we have several industries coming together in one loca­tion it all adds up and gives everybody presence.

So, we’re excited to see other companies coming to Aba contrary to what people may think. It’s all going to the same direction; there’s so much to do.

Abia, Eastgate move to realise Aba ICD
July 16, 2015 | Filed under: Breaking News,Maritime | Author: GODFREY OFURUM

The long awaited Aba Inland Container Depot (ICD) at Avor Intigha, Isiala Ngwa North Local Government Area of Abia State, will soon be realised following interest shown by the new administration in the state, BusinessDay has gathered.

According to a source, preparation for the construction and operation of the facility is almost completed by the Abia State government and Eastgate, concessionaire to the project, as the state governor, Okezie Ikpeazu, has also been billed to meet with officials of the Nigerian Shippers’ Council (NSC), Federal Government’s ports economic regulator, to discuss modalities for the realisation of the project.

The new government in Abia is expected to realise the project for the benefit of the people, as the multiplier effect of such a facility cannot be over-emphasised, the source said.

The ICD project was initiated to ease off congestion at the country’s ports as well as fast track clearing services to importers in the country, of which Aba has a large number.

Out of the six ICDs recommended to be built across the six geo-political zones of Nigeria, the Aba ICD was the first to be issued with a certificate of occupancy, a feat Adamu Biu, former CEO of NSC, observed was as a result of the good relationship that existed between the host community and the concessionaire, as well as the doggedness of the management of Eastgate to realise the project.

Based on the arrangement, the Abia State government is to provide infrastructure and other logistics for Eastgate to move in and develop as well as manage the terminal.

Eastgate was issued with a certificate of occupancy in 2008 by the NSC, while the agreement for the commencement of the physical development of the project was signed in 2009.

All the parties to the project, including the Federal and Abia State governments, NSC and the concessionaire – Eastgate Inland Terminal Limited, expressed their commitment to ensuring the realisation of the Aba ICD, believed to be the most viable of the six ICDs proposed for different parts of the country.

The project, which is to be executed under a Public Private Partnership (PPP) arrangement, BusinessDay gathered, has been stalled due to civil service protocols, a situation a source said would, not had cropped up if the project was to be executed by the concessionaire alone.

BusinessDay also gathered that the project estimated to gulp about N70 million, would now be executed at about N100 million, no thanks to the global economic meltdown, which resulted to further devaluation of the naira.

http://businessdayonline.com/2015/07/abia-eastgate-move-to-realise-aba-icd/#.Vaf9i9oo_Fo

The picture shows the fence of the building and the parking space which is not big. Anyway lets hope that there would be sufficient parking space after construction.

betterABIAstate:
it does, it still under construction.

Abia State will make Ndi Igbo proud. May God Bless Ala Igbo !!!

The mall does not have enough parking space. I just hope they planned this mall well.

betterABIAstate:
Umuahia mall

Shells Petroleum $3-5 Billion Assa Gas Plant in Imo State Set to Kick Off

Construction work is said to have begun at the $3.6 billion Shell
Petroleum Development Company’s (SPDC’s) major Gas plant
project at Assa North – Ohaji South in Imo State.
Meanwhile, Shell Petroleum, the owner of the multi-billion dollar
gas plant, and Bortir International Company Limited, a subsidiary
at the Dangote group of companies have opened a partnership
deal on utilization of gas from the project.
On Tuesday both companies led by Walter Weilenger, project
manager, Shell and Ahmed S. Yakassai of the Dangote group,
inspected the project site at Ohaji Local Government Area of the
state.
BusinessDay checks indicate that the major gas plant is sited on
200 hectares of land provided by Imo State, which was according
to a request in June 2012 by the Managing Director of Shell, Mutiu
Sunmonu.
Sunmonu had appealed to Governor Rochas Okorocha for the state
to provide the land as part of its collaboration for the project,
expected to be commissioned in 2018, beginning with the phase
one.
On its part, the Imo State Government has assured Shell Petroleum
Development Company and Borkir International Company Limited
(a subsidiary at Dangote Group), of its guarantee of security and
cooperation to ensure the project took-off and functioned
effectively.
“As you come to Imo, we would like to partner with you. We have
set up a committee to liaise with Shell on the development of Assa
Gas Plant. Imo Government is solidly behind you,” Okorocha said.
In his speech, Walter Weilenger, project manager of the Assa
North-Ohaji South Gas Plant project, Shell Petroleum Development
Company Limited, thanked the state government for a warm
welcome; and assured that the project would bring a lot of benefits
to the people of Imo State.
In June 2012, Sunmonu, Shell MD had said the gas plant would
supply domestic gas to power energy plants across the country as
well as generate massive job opportunities for Nigerians, adding
that the project which would be executed in two phases will be
completed in 2018.
While soliciting the collaboration of the state government in
handling of the project, he urged the government to play its part by
providing 200 hectares of land for the project, including an
enabling environment for the expatriates and workers to ensure a
healthy collaboration between SPDC and the host communities.
Sunmonu then promised that his company would always live up to
expectation in the area of its Corporate Social responsibility (CSR)
in the course of executing the project.

http://businessdayonline.com/2015/07/shells-3-5-billion-assa-gas-plant-in-imo-set-to-kick-off/#.VajFsTNw3EI

There is a NIPP power plant in Egbema which would definitely benefit from this gas plant.

asha80:
I really want them to enumerate what Imo would benefit apart from taxes and flow of cash within the area and Imo at large...is it an electricity booster via gas?

Seven Energy Supplies Gas to Alaoji Power Plant
Posted by Maureen Nzeogu Oil & Gas, Trending News Thursday, May 28th, 2015

Accugas, a wholly owned subsidiary of Seven Energy International Limited, has commenced the supply of gas to the Alaoji Independent Power Project, Abia State.
Accugas, one of the two suppliers with an initial contractual commitment to supply 30 million cubic feet per day (mmcfpd) gas to the 504-megawatt capacity power station commenced this month.
Alaoji project, the largest of the National Integrated Power Projects (NIPPs), has the first phase commissioned in March 2015.
Phillip Ihenacho, chief executive officer, Seven Energy, said reliable supply of gas to the NIPPs had been one of the core obstacles to their completion, and the consequent addition of significant generation capacity into the grid.
“Seven Energy is pleased to be able to provide this solution, ensuring that Alaoji has access to the gas it needs to commence electricity generation. Seven Energy is committed to providing the gas that will support the generation of electricity across Nigeria through our expanding gas distribution network.
“The addition of Alaoji to our gas supply network means we are now delivering affordable and reliable gas to three of Nigeria’s power stations. As a core of Seven Energy’s strategy to meet growing domestic energy demand, the Company has continued to invest in the expansion of its gas infrastructure in the southeast Niger Delta region, from its processing hub in Uquo, Akwa Ibom State,” he stated.
Steve Tierney, managing director, Accugas, said Alaoji’s decision to choose Accugas as one of its initial gas suppliers is a further endorsement of the quality and reliability of the service the company delivers to its customers.
“By ensuring our network is strategically located to deliver gas to the NIPP’s coming on stream in the south east of the country, and having proven our ability to deliver almost 100 per cent uptime of service, we expect to continue to expand our customer base in the coming months. Alaoji power station joins a growing list of gas off-takers, including Ibom Power Company, the United Cement Company of Nigeria, Notore Chemical Industries Limited and Calabar NIPP, who now rely on Seven Energy for the supply of gas to meet their power and industrial needs,” he explained.
Seven Energy International Limited’s upstream assets include licence interests in the Uquo Field and the Stubb Creek Field (southeast Niger Delta), an indirect interest in oil mining leases (OMLs) 4, 38 and 41 through a strategic alliance agreement with the Nigerian Petroleum Development Company (northwest Niger Delta) and licence interests in OPLs 905, 907 and 917 (Anambra Basin).
Its midstream infrastructure assets, focused on southeast Niger Delta, include the 200mmcfpd Uquo gas processing facility and a gas pipeline network of 227 km with distribution capacity of 600 MMcfpd.
Seven Energy and its subsidiary company, Universal Energy Resources Ltd, had earlier announced the commencement of crude oil production from the Stubb Creek Field, in Akwa Ibom State, following approval to embark on the delivery of oil through ExxonMobil’s Qua Iboe Terminal.
This feat came barely few weeks after Seven Energy commenced the supply of natural gas to Notore Chemical Industries, a leading fertiliser and agro-allied company in Africa, and few days after the company also commenced the supply of gas to the 560-megawatt-capacity Calabar Power Station built under the NIPP.

http://energynews-ng.com/seven-energy-supplies-gas-to-alaoji-power-plant/

Oando Set To Increase Gas Production
Posted by Maureen Nzeogu Oil & Gas, Trending News Thursday, June 4th, 2015

Oando is set to increase gas production by 20 million cubic feet with the construction of three gas-compression plants in Aba, Abia State; Port Harcourt, Rivers State and a third to be located in central Nigeria worth about $36 million (N7.2 billion).
In an interview in Lagos, Bolaji Osunsanya, chief executive officer, Oando gas and power, said with domestic gas demand projected to reach 5 billion cubic feet daily in the next two years, Oando is targeting big energy users such as cement and steel plants, who currently rely on diesel to generate at least 1.5 megawatts of power per factory, to switch to gas.
Osunsanya noted that compressed to become more than 200 times smaller than its original volume, gas could be delivered to companies connected to pipelines during supply disruptions.
He further said that the company is building a business to truck natural gas to industrial users whenever they are cut off from pipeline supply. “We’re basically creating a market for the future, markets that otherwise you won’t have been able to use pipelines to serve. Today, it is possible to truck compressed natural gas there. The technology can be utilised on all modes of transportation. Today it is trucks, but there is a future for rail and for barges, so we can wheel compressed natural gas through the rivers upstream,” he said.
Another subsidiary, Oando Energy Resources, OER, a couple of weeks back expressed optimism of meeting its medium-term new production targets of 100,000 barrels of oil equivalent per day (boepd) and reserves of 500 million barrels of oil equivalent (MMboe) by 2017.
OER, said such high expectations is being driven by its reserves, exploration drive and vision of becoming a leading exploration and production player in the Nigerian oil and gas sector.
The company further said that it is well on track to meeting these production targets with its recent announcement of an 82 percent increase in reserves despite the downturn in the sector. The company’s proved and probable net reserves, 2P reserves were significantly increased from 230.6 million barrels of oil equivalent, MMboe to 420.3 MMboe at an economic value of $545 million to $1.8 billion.

http://energynews-ng.com/oando-set-to-increase-gas-production/

Thanks bro and God bless you

BuddahMonk:
RareDiamond God bless you my brother, only if you will accept my pleas and always ignore that guy messing up Imo state thread.

God bless you once again nwanne madu

Masters Energy floats industrial city in Abia State
By Sulaimon Salau on July 7, 2015

AN integrated energy firm, Masters Energy has commenced works on its multi-billion naira industrial city located in Onuaku, Uturu, Abia State. The project, which is at advanced level of construction, is expected to commence operations by September.

Taking-off with integrated plastic making factory, noodles production and the organic fertiliser plant in the first phase, the industrial city will also have lubricant blending plant, storage facility, aluminium profile factory and pipeline manufacturing plant among others, when fully completed.

The Manager, Corporate Affairs, Masters Energy, Emmanuel Iheanacho, at the facility tour to the site at the weekend, said the project would become the industrial hub of the South-East region when completed. Iheanacho, expressed the company’s commitment to local content, adding that the Managing Director and Chief Executive Officer of the company, Uchechukwu Ogah was passionate about growing the local economy.

According to him, the industrial city will create about 14,000 jobs (direct and indirect) when fully completed, adding that it has already employed about 200 staff and over 800 contract workers, totalling over 1000 workers on site.

“What drives us at Masters Energy is the need to empower people and grow the domestic economy because creation of jobs will reduce crime rate and raise the local capacity,” he said Iheanacho also noted that the project would also save the nation of huge capital flight and have direct impact on the livelihood of indigenes of Abia, Enugu and Ebonyi States.

Other facilities expected in the industrial city includes; an Information Communication Technology (ICT) centre, high-tech laboratory facility, a well-equipped hospital, police\security base, fire fighting station and residential quarters for workers.

Iheanacho however assured on the quality of products that will be coming out of the city, “because we will follow the international standards with our state-of-the-art laboratory monitoring the quality of the inputs,” The Administrative Manager, Masters Energy, Emmanuel Arukwe, said safety is key in their operations, adding that the company has recorded zero-incidence since it started construction in 2011.

He noted that adequate programmes have been extended to the host communities as part of its Corporate Social Responsibility (CSR). These include the donation of an auditorium for Abia State University; award of scholarships; electricity supply network; and health care centre, among others.

Masters Energy, an integrated oil and gas firms, has diversified into various sectors of the economy to emerge an one of the fastest growing industrial conglomerate in the country. The firm had also in 2006 acquired over 143 hectares of land in Rumuolumeni, Port Harcourt, Rivers State, for the construction of an ultra modern integrated oil and gas logistics centre, tagged, “Masters Energy City”.

Within the Energy City is a petroleum products storage facility of 158,000 metric tonnes storage, which has significantly bridged the supply gap of petroleum products in those areas.

http://www.ngrguardiannews.com/2015/07/masters-energy-floats-industrial-city-in-abia/

You have started this your madness again

chinolization:
Donatus Okpara the slum dweller aka emmysoftyou, I just hope you want to cry this afternoon LOL

Anambra Govt sends Emissary to Eagle Farm, Promises to Boost Agric

By Our Reporter on July 8, 2015 Oriental News

From ALOYSIUS ATTAH, Onitsha

Anambra State governor, Chief Willie Obiano has reinstated the desire of his administration to provide farmers with adequate support to enhance agricultural productivity in the state.

The governor, who chose Agriculture development as one of the four pillars of development and a top priority of his administration, made this known when he visited Eagle Food Processing Industry at Umuchu in Aguata Local government Area of the state recently.

Governor Obiano, who was represented by the Commissioner for Agriculture, Hon Afam Mbanefo, said that the visit was to look at the situation on ground at Eagle Food, a National Productivity Order of Merit (NPOM) Award winning farm which is a leading mega farms in the state with over 300 employees.

He observed that the situation at the Umuchu farm was wonderful and quite impressive by all standard.

Hon Mbanefo who was conducted round the farm by top officials of the company led by the Managing Director, Prince Ugochukwu Okpalaeke, said that he was impressed to see that Eagle Food has a huge poultry farm with hundreds of thousands of birds, a functional mill and other sections like piggery, fishery, cattle rearing, palm produce processing plant, cultivation of yam, cassava, maize, vegetable plants, banana plantation, among others.

He said that the Obiano administration has since its inception last year intensified massive campaign for the people, particularly the youths to embrace agriculture as a measure to reduce unemployment and also enhance food security in the state, adding that the visit to the Umuchu Farm was part of the efforts being made by Governor Obiano to support famers and propel interest into Agriculture among the people in the state.

Maintaining that the farm was great and amazing, he observed that the facilities, stock and huge products of the Umuchu Farm carry the message of what the state government wishes to achieve with farmers in the state, noting that the governor would certainly be happy and proud with the news about Eagle Food when the report is presented to him.

The commissioner commended the management of the NPOM winning farm and assured that having come to see things there, efforts should be made by his office to see that government attends to some teething problems of the farm, adding also that the government would see how to take advantage of the huge facilities in the farm as well as the wealth of experience of the managing director to assist young farmers in the state.

Speaking, Prince Okpalaeke who commended the governor for the visit, gave a brief history of the Farm, echoing that it was commissioned in the late ‘80s by the then governor of old Anambra State, the late Group Captain Emeka Omeruah, adding that the farm boasts of massive experience of over 30 years of operating a poultry, processing of palm produce, cultivation of yam, cassava, maize, vegetable plant, banana plantation, cattle rearing, piggery and fishery business, among others.

He lamented that the Farm could have gone into vegetable refinery, frozen chicken, fish and pock meat if there was enough support from government pointing out that the farm has enough capacity and experience to go into refining oil and frozen products if it was helped in the area of sourcing fund for the farm.

“We have a palm produce processing plant already and all we need to transit into refining vegetable oil is fund to procure some equipment, that is why we are seeking the attention of our governor, His Excellency, Chief Willie Obiano, to come to our aid and bail us out with a source than can guarantee us soft loan to take off the refinery, the project can accommodate not less than 200 employees when it takes off,” he said.

He also said that the farm needs more help in the areas of procuring tractors to enhance cultivation works plus egg hashing machine, adding that like every other industry in the country, Eagle Food was heavily suffering from poor power supply as the farm consumes not less than four drums of gas daily.

“We are spending a lot of money on gas and sometimes we find it difficult to cope, so if government can improve on power supply our business will definitely improve”, he assured.

The Anambra leading farmer said that the people of the state were lucky enough to have a governor who is so passionate about development of Agriculture and called on the good people of the state to take advantage of the governor’s interest to buy into the business of farming and endeavour to start off even on a small scale measure.

“I started with 50 birds in 198”, He said that the management of Eagle Food was very appreciative of the governor’s visit to Umuchu.

http://sunnewsonline.com/new/anambra-govt-sends-emissary-to-eagle-farm-promises-to-boost-agric/

A New Abia Beckons

05 Jul 2015

By Ojo Maduekwe

The inauguration of the administration of Dr. Okezie Victor Ikpeazu on May 29, signalled the rebirth of a new Abia State. So far, the goodwill from Abians at home and abroad, and also from Nigerians across the country, are evidence of the trust placed on Governor Ikpeazu, to which the governor has justified with thoughtful engagements since assuming office.


Accepted that some people feel it is proper to give the new government sometime to solidify on its promises, especially on rebuilding Aba, before raining encomium on Governor Ikpeazu; nonetheless, the governor’s immediate actions have not left anyone in doubt as to his commitment in keeping his word to the people of Abia state.


Focused on improving the living standard of every resident in the state, Governor Ikpeazu, poised to ensure that his campaign promises materialise from words into concrete infrastructure, more security, and, respect to the state civil servants that are the engine of government, has without doubt, started well.


From setting up of the office of Aba Urban Renewal, inaugurating the construction of seven roads in Aba to cutting down by 50 per cent his salary and travel allowance, the governors actions are based on the vision of opening up the state for business through the repositioning of Aba as Nigeria’s SME capital. An economic team is working tirelessly to help realise this vision.


For those who still see refuse dumps in Abia, Governor Ikpeazu’s vision to transform the state into a centre of commerce where business is conducted seamlessly, and in a secure and clean environment, has kicked off. Beneath the piles of dirt are great opportunities recognised by the new government. In no distant future Abia would be one of the cleanest states in Nigeria, and among the biggest contributors to the national coffers by virtue of its increased Internally Generated Revenue (IGR).


Work is ongoing, and structures are being laid. The government has commenced an Integrated Payroll Verification System aimed at checking the menace of ghost workers in the state; while tax collection has been stopped until the tax system is automated and harmonised.


The Abia State Economic Advancement Team which is chaired by the governor, has been tasked with the job of increasing the states monthly IGR profile from the current average of N350 million to N1.5 billion within the next one year. In carrying out this task, the team will focus less on new taxes while channelling more energy towards plugging existing leakages.


In an effort to meet the new IGR benchmark of N1.5 billion, there are existing structures the new government would build upon. For instance, when the new Umuahia City, designed to include sophisticated malls, recreational parks, housing estates, and an International Conference Centre capable of boosting the states revenue through tourism is amplified with the rapid rebuilding of Aba, Abia state will wear a new look.


With a total seating capacity of about 9,000, that includes a main hall, four conference halls and a banquet hall, the centre is complete with a VIP lounge, gallery, offices and a huge parking space. A lot of revenue would be generated by the new government from this building that would be hosting some of the biggest events the country has ever seen.


In the South-east, before the centre in Umuahia, there were no good places to hold conferences of world class standard. The International Conference Centre, when fully functional would fill the gap and be what the Calabar International Convention Centre is to the state of Cross River.


The centre is digital, with advanced information technology such that events can be recorded and the signal beamed live for people to watch anywhere in the world. Also, the centre is the best not only in Nigeria, but in the rest of Africa. This would help boost tourism-related revenue for the state.


Also, there are yet to be tapped IGR from Aba. As the commercial and industrial nerve centre of Abia, Aba, with its plethora of small and medium scale industries, ranks as the only city in Nigeria with the largest concentration of cottage industries, a reality which has been acknowledged on several occasions by local financial organisations, and international organisations such as the United Nations Industrial Development Organisation (UNIDO), the World Bank and the International Monetary Fund (IMF).


Only recently, the African Development Bank (AfDB) granted approval of a $200 million facility for the state to be used in tackling the challenges of water, sanitation and road construction. With this fund, which Governor Ikpeazu has assured would be applied on the Port Harcourt road, Aba, and other roads, the challenges of refuse dumps and deplorable roads within the city are being tackled. Already, the Office of Aba Urban Renewal has commenced aggressive work on the drainage system in Aba.


Now is the time to invest in Abia state. There are vast opportunities for serious investors. South African chain store giant and owners of Shoprite, Pall Mall, are presently in the state, constructing the Abia Shopping Mall. Talk of the manufacturing industry in Aba, or is it real estate, Abia state is ready for business. Question is, are you?

http://www.thisdaylive.com/articles/a-new-abia-beckons/213881/

RIP Brave Soldier

Diamond Bank, Geometric, Others Seal N15bn Power Deal
09 Jul 2015


The Aba Integrated Power Project (Aba IPP), scheduled for commissioning in November, has entered into a new Transaction Implementation Agreement with its sponsors and creditors pursuant to which Afrigem Integrated Utilities Limited becomes a core investor in the power project.

Afrigem, a West African focused development and investment company with a 720mw pipeline of energy solutions project in the region, is expected to inject N15 billion into the project, making Geometric Power one of the most capitalised private sector driven power companies in the sub-region.

A statement explained that the agreement signing ceremony which was hosted by Diamond Bank Plc, provides Afrigem the milestones for the restructuring of the existing debt stock of Geometric Power’s project companies, recapitalisation and also, the restructuring of the company. These, it explained, were expected to help fast-track the inauguration of the plant.

“Geometric Power led the sponsors of Aba IPP while the creditors include Diamond Bank Plc, Asset Management Corporation of Nigeria (AMCON) and Stanbic IBTC Bank Plc. In its 3-year growth plan, the Sponsors and Afrigem expect to increase the plant capacity from 141MW to 341MW by 2018,” it stated.

According to the parties, the capital restructuring agreement will also ensure that the project companies: Geometric Power Aba Limited and APL Electric Limited have the required capital to deliver reliable power. It will also bring on board the expertise of Afrigem’s team in the operations and management of the Aba IPP while the new capital will be applied towards the commissioning of the project and part payment to creditors with enough left to run the company.

Chairman of Geometric Power Limited, Professor Bart Nnaji, led the signing on behalf of the project sponsors while the Vice Chairman of Afrigem, Mallam Samaila Zubairu, led the signing on behalf of Afrigem Integrated Utilities Limited at the ceremony attended by energy consultants, top bank executives and representatives of the various professional parties.

Speaking at the event, Deputy Managing Director and Chief Risk Officer of Diamond Bank Plc, Caroline Anyanwu, stated that the new agreement signalled a huge economic leap in the generation and distribution of electricity energy in Nigeria.

According to her, Diamond Bank was very passionate about the project because of the economic ripple effect that uninterrupted electricity power supply would bring to the numerous Micro, Small and Medium Enterprises (MSMEs) operators in Abia State and the country generally.


More from: http://www.thisdaylive.com/articles/diamond-bank-geometric-others-seal-n15bn-power-deal/214190/

African Development Bank approves N40 billion for Abia State
By Agwu Okojogho, Umuahia on 02/07/2015

The development programme of the Dr Omezie Ikpeazu-led government of Abia State has received a big boost as the African Development Bank (ADB) has approved a $200 million facility for the state.

The fund which is approximately N40 billion would be committed to building of roads, sanitation and provision of water.

Governor Okezie Ikpeazu made this known yesterday in Umuahia while receiving the General Superintendent of Deeper Life Christian Ministries, Pastor William Kumuyi, at Government House. He hinted that part of the money would be deployed to rehabilitating the dilapidated Aba - Port Harcourt Road which has remained impassable for years.

The governor also revealed that other roads, including Ohanku Road Aba, would equally receive attention.

News Express reports that on assumption of office, Ikpeazu launched the Aba Urban Renewal programme under which the commercial city would be transformed through massive renewal and provision of dilapidated infrastructure.

Under the programme, the governor has commenced road rehabilitation programmes involving reconstruction of seven urban roads and desilting of drainages in Aba.

Already, a Chinese firm, the China Geology Engineering Company has arrived Abia to explore areas the firm could collaborate with the Ikpeazu administration to realise the Aba Urban Renewal programme.

“In Abia State, we are mindful of the challenges that confront us. But big as they may seem, we are also confident that our God is bigger than whatever challenges there may be and that is the reason we are confident that victory is assured,” Ikpeazu said.

Responding to requests placed on his table by his visitors, Ikpeazu promised to provide the church with a piece of land in the state to build their university

as well as construct a 5km access road to the school.

He expressed belief that God would use Kumuyi’s visit to turn things around in Abia, describing him as the father of Pentecostal movement in Nigeria.

Pastor Kumuyi said he was in the state for the annual Gospel Crusade of the ministry and used the forum to commend the Governor for the road construction efforts of his government in Aba, as well as for cutting his salary to ameliorate the plight of workers in the state and called on other politicians and even ministers to emulate him.

Also, the Abia State Overseer of Deeper Life, Pastor Damian Umeh, said the church would continue to pray for the governor and appealed to him to grade the Ohanku and Aba - Port Harcourt Road, the road leading to the ministry’s camp ground in Aba and also provide them with land for building their proposed university in the state.

http://www.newsexpressngr.com/news/detail.php?news=12562&title=African-Development-Bank-approves-N40-billion-for-Abia&scid=46

RIP Brave Soldier

RIP Brave soldier.

Stop deceiving yourself, things are not as you paint them.

meyameya:
[color=#990000]Yes Imo is working but in a dirty environs. The gutters are filled up,nylon littered every corner in Owerri. This government is busy breeding mosquito.

The Industrialization of Imo State: Fulfilling an Electioneering Campaign Promise

Bruno Njoku writes from Republic of Ireland

Establishing industries is a way of adding value to our abundant humans and natural materials thereby creating job opportunities and removing poverty. The dismal lack of industries in the state puts a huge strain on the meagre financial resources of the state and this in some ways perpetuates dependency.
Empowering the youth by creating jobs through industrialization is not a luxury by any means. The economic and social responsibility of any government is to provide opportunities for everyman to make a decent living and the leadership can facilitate this by doing the right thing.
In Imo state, the Government of His Excellency Governor OwelleRochasOkorocha understands this relationship between industrialization and empowerment and little wonder the fulcrum of his economic policy in this second tenure is job creation through massive industrialization of the state.
Ludwig Mies Van Der Rohe once said “I see in industrialization the central problem of building in our time. If we succeed in carrying out this industrialization, the social, economic, technical and also artistic problems will be readily resolved”.
One of the ways to grow the economy of the state in a healthy and sustainable manneris to grow the economies of the local communities by building industries and empowering them with the skills to manufacture improved local technologies for both the local and the export markets.
One time Nobel Prize winner and 26th President of the United States of America once said “Do what you can with what you have wherever you are”.
I want to believe that it is on the above premise that His Excellency OwelleRochasOkorocha has drawn his strength in his plans to industrialize the state within the next four years and even beyond 2019.
It will be recalled that on the 18th of June 2015, the administration demonstrated its seriousness and determination to fulfil its electioneering promise of building multiple industries in the state by hosting a delegation of Chinese businessmen led by the Chinese Consul General in Nigeria Mr Lui Khan at his Douglas House office. During the deliberations, the Governor made bold to say that Imo State is blessed with abundant deposits of natural resources like natural gas, crude oil, lead, zinc, lime stones etc and also it is apt to reiterate at this point that there is no paucity of human resources in the state as we have seasoned technocrats, professionals in various spheres of life that can manage and make this industries work.
In a discussion with His Excellency the Deputy Governor of Imo State Prince EzeakonobiMadumere a few days before the working visit of the Chinese businessmen to Imo State, his Excellency said “we want to empower our people, strengthen them economically, providing them with the kind of enablement that will help them build up their communities and selves.
He noted that if you empower people in the communities, and provide them with jobs, you win their hearts and minds and hold them accountable for the growth of their local economy and welfare. This writer is in concord with this view because when you economically empower a person(s) he is presented with enormous opportunities that could actually be transformative not only for his family and the community but also for the aggregate economy.
When industries are built, jobs are created and the employed earn wages, pay taxes and savings are made and have disposable incomeall these in turn will have a multiplier effect on the economy. This process generates revenue for the state which will pay the rising cost of the social responsibilities of the government (free education, building and the maintenance of good roads, provision of adequate health care etc).
This type of transformational process that improves living standard, growth in productivity and strengthening of the social cohesion as well as the GDP of the nation.This is what the Rescue mission is all about.
The Rescue mission understands that there is a distinction between good jobs for the individuals and good jobs for the society. Publicworks designed to simply increase employment rates without any long term economic productivity goals are rarely good jobs for the society.
Under the current administration of his Excellency OwelleRochasOkorocha, the Executive Governor of Imo State, increasing attention will be paid in the area of job creation by establishing industries across the local government areas of the State reminiscent of the era of Dr Samuel OnunakaMbakwe of blessed memory.
In a recent chat with the His Excellency the Deputy Governor of Imo State, Prince EzeMadumere, he emphasized that job creation is one of the priority areas alongside provision of adequate healthcare that this administration will work hard to give Imolites.
There is need to state here that this administration understands that while job creation and employment covers a broad range of themes-from public employment services to safety nets and entrepreneurship skills development, the success of the job creation policy efforts is by and large measured by its results which is the number job opportunities created and filled.
As a government interested in endogenous economic growth of Imo State through wealth creation, expansion of the production frontiers and diversifying of the economy of the State, it is aware that the provision of excellent infrastructural facilities for fast economic growth can be enhanced by encouraging the right Private Corporate organizations with unrestricted access to develop the State and at the same time encourage Public Private Partnership Initiatives. This is a great way of stimulating massive investments in infrastructure, industries which will have a multiplier effect on the economy of the State.
It is a fact that the diversification of the economy with government assistance eliminates the adverse high costs and risks the government encounter in running the state.
In conclusion, there is the desideratum to suggest that the present government ought to develop a clear set of anti-discriminatory policies in the siting of these industries. The essence of management is to do things right but leadership is all about doing the right things. I believe that it is necessary that the governmentsets up a strong institutional framework(if it has not done so already) to support the enforcement and realization of this ambitious industrialization agenda.
With respect to John D Rockefeller “I believe in the dignity of labour whether with head or hand; that the world owes no man a living, but it owes everyman an opportunity to make a living”. I believe the apologists ofRochanomics and the Rescue Mission are thinking along this line.
A window of opportunity to leave your footsteps on the sands of time beckons my Governor, please take it and give a future to the Imo youths who are being empowered by your free education program.
I wish God’s speed to His Excellency the Governor OwelleRochasAnayoOkorocha and His Deputy His Excellency Prince EzeMadumere as your steer the State for another four years.
Long live Imo State

http://www.imotrumpeta.com/?p=14567