₦airaland Forum

It's not slowing down,2600 next
https://www.tradingview.com/chart/yKnpRhm8/?symbol=BINANCE%3AUSDTNGN

Gadafii:
Let’s I forget, she also got a remote job if 50k/monthly

https://www.nairaland.com/7959501/woman-brought-2-spoons-husband

Sunday2021:
so you believe that trash?

MatrixReloaded:
It's a fake installation. They will keep riping you to reinstall.

The Group Chief Executive Officer (CEO) of the NNPCL, Mele Kyari has stated that the second phase of repair works of the Port-Harcourt refinery will be completed by the fourth quarter of 2024

He said this during the inspection tour of the rehabilitation project, which also coincided with the 15th Refineries’ Rehabilitation Steering Committee Meeting, comprising the Minister of State for Petroleum Resources, Heineken Lokpobiri, Members of the NNPCL Board, and the MD of the Port-Harcourt Refining Company Limited.

The Group Chief Executive Officer of NNPCL, Mele Kyari, clarified that as of December 15, 2023, approximately 84.4% of Area-5 Plant, a crucial element of the Port Harcourt refinery, and 77.4% of the overall rehabilitation project had been completed.

He said, “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,”
“We are done with phase one. We will complete phase two as promised within 2024, maximum – the last quarter of 2024,”
Refinery when completed to last for 50yrs
Also speaking during the meeting was the Managing Director of the Port-Harcourt Refinery Company, Ibrahim Onoja when the rehabilitation of the refinery is complete it’ll serve the country for another 50 years.

He stated, “This plant you see is a renewed plant that will last Nigeria for decades. We can beat our chest and say we’ve come over 50 years, and we’ll go another 50 years.
“This will give value to Nigeria, create jobs, provide feedstock for industries, revenue, foreign exchange, energy security and more. Phase one of this refinery is 60,000 barrels per day, the other one is 150,000 bpd. So we have a complementary 210,000bpd refinery,”
The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, said the PHRC would produce cooking gas, adding that this would lead to a reduction in the importation of the commodity.

Backstory
Yesterday, the NNPCL reported the completion of the Area 5 section of the Port-Harcourt refinery and the successful mechanical completion and flare start-up.
In March 2021, the federal government approved the contract for the repair of the 210,000-barrel capacity Port-Harcourt refinery for $1.5 billion. The rehabilitation, which was awarded to Tecnimont SPA, an Italian company, was to be done in three phases of 18, 24 and 44 months.

naptu2:
Sukuk is basically an interest free bond. The Federal Government used the bonds as a cheaper way to finance infrastructure. Several roads were built with money from the issuance of sukuk bonds.

Those concrete structures indicate that the road was built or reconstructed with money from the issuance of sukuk bonds. For example, the stretch of road from Marina through Independence Bridge and all the way to the end of Ahmadu Bello Way on Victoria Island was reconstructed with funds from sukuk bonds.


It's cheaper for government because there's no interest to pay.