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.

Even as I am still studying the 2024 fiscal budget as presented to the National Assembly last week, I cannot wait as I am compelled to ask : what is exactly wrong with us as a country? I ask this question because it is hard for me to understand some of the recent happenings in our nation, in these critical times. The recent news about a budget provision of N15 billion for the construction of a new residence for the Vice President is both shocking and disheartening, considering the many important challenges facing our nation. Just recently in the Supplementary Budget, the sum of N2.5 billion was included for the renovation of the Vice President's residence in Abuja, which means that he already has a residence. Again, during the budget presentation, I heard the sum of N3 billion was allocated for the renovation of the Vice President's residence in Lagos. If we total all these sums, we would have budgeted the sum of N20.5 billion for the housing of the Vice President at this critical time when we are not just the world’s poverty capital, but more people are falling into poverty, with so many Nigerians not knowing where their next meal will come from. Our health facilities have collapsed, and unemployment is skyrocketing. I am convinced that 99.9% of Nigerians can only dream of living in the current residence of the Vice President. Several people employed in the universities are not being paid. Just to give an example, the salary of a professor in a Nigerian university is about N400,000, which without removing tax is about N5 million a year. What we have budgeted for the housing of the Vice President who is already luxuriously housed is, therefore, the annual salary of about 3000 professors! This is the finance needed to develop the much-needed human capital.The budget of N5 billion for student loans, which is yet to be disbursed is only a tiny percentage of the cost of the Vice President’s new home. We are projecting to use four times the amount for educating ALL Nigerian indigent students to house the Vice President, and we are being told there is nothing wrong with us. I am sure the major teaching hospitals in Nsukka, Lagos, Ibadan, and Zaria did not receive this much capital vote in the budget this year. We have had leaders that were exemplary in the past. Most Nigerians may not know that the popular 1004 flats in Lagos, was a land allocated for the building of a Presidential Mansion for the then Head of State, General Murtala Mohammed.He sternly turned down the offer and instructed that the land should be used to build blocks of flats for civil servants. That is the kind of sacrificial leadership worth emulating. Our leaders must therefore stop the recklessness and insensitivity to the plight of the masses.We need leaders who show compassion and are willing to sacrifice for common progress and development. Such compassionate and frugal leaders are critical in our journey to the New Nigeria. -PO

Kyari confirms Port Harcourt refinery to take off in December 2023
Mele Kyari has confirmed that the Port Harcourt refinery will take off in December 2023.

He said this while meeting with the Speaker of the House of Representatives, Tajudeen Abbas on Thursday, November 23.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited said the rehabilitation of the state-run refineries is ongoing and that by December 2024 Nigeria would stop petrol imports.

He said:

“I can confirm to you that by the end of December this year, we will start the Port Harcourt refinery; early in the first quarter of 2024, we will start the Warri refinery and by the end of 2024, the Kaduna refinery will come into operation.
“This is the commitment we are giving today, and you can hold us accountable for this. In 2024, many of the initiatives including the rehabilitation of our refineries and also the efforts of small-scale refineries, and the upcoming Dangote refinery, will make Nigeria a net exporter of petroleum products in 2024.
“We will no longer be talking about fuel importation by the end of 2024. I am very optimistic that this will crystallize.”
Meanwhile, Tajudeen Abbass called for the privatization of refineries due to the fact that some businesses are not meant to be run by the government.

He said:

“There is a need to make these refineries have multi-dimensional uses. If there is no crude oil, are there other activities that can make the workers active so that what they earn is deserved? I need you and your management to look at how we can turn around these decades of losses.
“One way to do so is to find a way to privatize these refineries. We have spent so much money and time deceiving ourselves that some businesses can be run by the government.
“In the case of the refineries, we have now realized that some sectors of NNPCL business can only be handled by the private sector and our refineries are one of those.
“The inadequacies will become manifest as soon as the Dangote refinery comes on board because the competition will be there, and inefficiencies of the refineries will become more naked.”
In August 2023, the National Assembly announced that it would probe the alleged N11.3 trillion expenditure by the Federal Government on Nigeria’s refineries’ turn-around maintenance between 2010 and 2020.

According to the House of Representatives Committee Chairman on Public Accounts, there is concern over the deplorable state of Nigeria’s refineries despite the significant amount of money spent on their maintenance over the past decade.

What you should know
Note that the NNPCL plans to provide the 650,000 barrels per day Dangote oil refinery, with up to six shipments of crude oil in December for testing, based on information from industry sources both at NNPCL and Dangote refinery.

The six shipments, totalling 200,000 barrels per day, are set for December as part of a one-year agreement.

Calabar1stSon:
Common sure 2 odds you never fit predict correctly.

BlackhatMentor:


Please shut up.


Money is the greatest motivation for delving into this field like it or not.

If you want solve problem go learn assembly language

chatinent:
Hi,

Chatinent here.

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Email in case for personal data: chatinent@gmail.com

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--------------------------------


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2. Shopify/Amazon/eBay Store

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