globemoney:

MTN Nigeria owned by igbos can buy your glo a million times so that is out of the question.Why havent yoruba industries helped wema bank is the question you have been dodging

lol..MTN owned by you market women?Wonders shall never end.

THIS IS INFO FOR GLO:

Globacom Limited (or GLO ) is a Nigerian
multinational telecommunications company
headquartered in Lagos. GLO is a privately
owned telecommunications carrier that started
operations on 29 August 2003. It currently
operates in four countries in West Africa,
namely Nigeria, Republic of Benin, Ghana and
Côte d'Ivoire . [1] As of June 2009, the
company has employed more than 2,500
people worldwide.



Overview
GLO has an estimate of over 34 million
subscribers (April 2016) of which 26 million
are internet subscribers [2] and it is a 100
percent Nigerian owned company. [3]
GLO built an $800 million high-capacity fibre-
optic cable known as Glo-1, a submarine
cable from the United Kingdom to Nigeria[4]
but still provides extremely slow and unstable
internet connection to subscribers.



Ownership
GLO is privately owned by the Mike Adenuga
Group which also consists of ETB , now
merged with the Sterling Bank , Conoil PLC, a
petroleum marketing company, and Conoil
Producing, a crude exploration company. [5]







Strategic business units
Glo Mobile
Glo Mobile, a subsidiary of GLO, is GLO’s
Mobile Network Unit. In the first year of
operation, it had one million subscribers in
over 87 towns in Nigeria and over 120 billion
Naira in revenues. [6] Glo Mobile has now
spread to other African countries , namely
Benin[7] and Ghana . [8]
Glo Gateway
Glo Gateway, a subsidiary of GLO, is GLO’s
International Wholesale Voice and Data
Exchange Trading Business Unit. Due to an
expansion program which took place in 2008,
Glo Gateway now [year needed ] covers 140
countries under its roaming services, and it is
currently connected to 235 networks. [8] 2008
also saw growth in Glo’s data roaming for
mobile phones, laptops and BlackBerry
handsets, which has now spread to 72
networks in 29 countries. [8] This now gives
GLO the largest roaming coverage for voice
and data in Africa. [3] Glo Gateway recently
acquired a license in Côte d'Ivoire.
Broadband access
As a part of GLO’s service offering, Glo Broad
Access will be improved by the laying of the
fibre optic cable for the metro ring, which is
progressing steadily. [citation needed ] The Glo
Broad Access was launched on the 24th of
November 2009. Glo Broad Access offers
landline telephones, broadband internet and
video, all on a single digital wire line.
Glo 1 submarine cable
Glo-1 is the first successful submarine cable
from the United Kingdom to Nigeria, and GLO
is the first individual African company to
embark on such a project. [9][10]
Glo-1 has the potential to provide high speed
internet services, faster, more reliable and
cheaper telecom services. [11] Glo-1 will
potentially facilitate foreign investment and
employment opportunities especially to
Africans.
The 9,800 km long cable originates from Bude
in the UK and is laid from this origin to Alpha
Beach in Lagos, where it will have its Landing
Station. [12] Glo-1 will also improve
teleconferencing, distance learning, disaster
recovery and telemedicine among several
other benefits for Nigerians and the people of
West Africa. [13]
By country
In August 2003, Glo Mobile was launched in
Nigeria. Glo Mobile introduced lower tariffs,
pay per second billing and alongside other
value added services. Although Glo Mobile
was the fourth GSM operator to launch in
Nigeria, within seven years of the company's
operation, its subscriber base has grown to
over 25 million. [14]
In June 2008, Glo Mobile was launched in
Benin. Glo Mobile showed unprecedented
growth through the sale of 600,000 SIM cards
in the first ten days of operation. [15] Glo
Mobile offered Per Second Billing, which
charges subscribers for the exact airtime
used. They also offered other value added
services such as MMS (Multimedia Messaging
Service), Glo Magic Plus news and
information, vehicle tracking, musical ring-
back tones and mobile banking.
In May 2008, GLO acquired an operating
license through its Glo Mobile division in
Ghana and plans to capture 30% of the
current 11 million subscriber market within 18
months of launch. [16] They plan on achieving
this goal by launching with bundled voice and
Internet services for Ghana and through
specifically targeting ‘un-serviced’ areas
outside Ghana’s two major cities, Accra and
Kumasi. Glo Mobile was set to launch in
Ghana the first quarter of 2010. [17] This has
however been postponed to the third quarter
of 2011, and again to 2012. In January 2012,
Glo Ghana opened the "Reserve your number"
campaign, but still without opening the
network. On April 8, 2011 GLO launched the
sub-marine optical fiber GLO1, one part of its
maiden operation in Ghana, to usher in
another major player in the Ghana
telecommunication industry.
In October 2009, GLO acquired submarine
cable landing rights and International Gateway
Services in Côte d'Ivoire.
History
In 2005, Glo Mobile introduced the Glo Fleet
Manager which is a Vehicle Tracking Solution.
Glo Fleet Manager helps transporters/fleet
operators manage their fleet. They also
introduced the Glo Mobile internet service
which provides subscribers with access to
internet sites which have been customized for
mobile phone browsing.
In 2006, Glo Mobile introduced BlackBerry.
GLO started the sponsorship of the
Confederation of African Football African
Player of the Year Award. The company also
started the sponsorship of Glo Lagos
International Half Marathon.
In 2009, Glo Mobile launched Blackberry
prepaid services which gives subscribers
options to pay daily, weekly or monthly for the
service. Blackberry prepaid service gives
subscribers free yahoo mail access and free
blackberry messenger. The company also
launched 3G High Speed Internet services
through the sale of its 3G modem. Glo Mobile
3G network is available in Lagos, Abuja , Benin
and PortHarcourt .
Sponsorships
GLO sponsors sports events.
Nigerian supporters in GLO-Shirts at
2010 FIFA U-20 Women's World Cup
In Nigeria, GLO sponsored until 2009 the
Nigerian Premier League , Nigerian National
Football Teams, Nigeria Football Federation
(NFF), [18] Glo Lagos International Half
Marathon, [19] Glo People Police Marathon, [20]
Eyo Festival, Ojude Oba Festival , [21] Eleghe
Festival [22] and the Confederation of African
Football African Player of the Year Award. [23]
In Benin, GLO sponsors the FITHEB and CAF
African Player of the Year Award. [24]
In Ghana, GLO sponsors the Glo Ghana
Premier League , the Ghana National Football
Teams [25] and the CAF African Player of the
Year Award.
In November 2009, GLO became an official
sponsor of football club Manchester United .
The sponsorship also includes young players
from Benin, Ghana and Nigeria going to
Manchester to train with the club. [26]
References
1. ^ Nkanga, Efem. "Benin: Glo Launches
Network in Country Today" , All Africa , 5
June 2008.
2. ^ Bello, Muhammed. "Nigerian
Communications Commission" . Retrieved 27
December 2016.
3. ^ a b "Globacom leads Africa, Middle East
mobile market with 5.8m subscribers" , IT
News Africa , 13 May 2007. Accessed 21
August 2015.
4. ^ IT News Africa "Glo One Submarine
Cable Debuts in Lagos" , IT News Africa , 8
September 2009. Accessed 21 August 2015.
5. ^ "Glo makes test call" , TeleGeography,
18 December 2007. Accessed 21 August
2015.
6. ^ "Globacom may acquire NITEL" , Daily
Champion , 16 September 2009. Accessed 27
August 2015
7. ^ Nkanga, Efem. "Benin: Glo Launches
Network in Country Today" , All Africa , 5
June 2008. Accessed 27 August 2015.
8. ^ a b c Nweke, Remmy. "e-Readiness:
Nigeria ranks 94" , Daily Champion , 25 June
2008. Accessed 14 September 2015.
9. ^ "Glo One Submarine Cable Debuts in
Lagos" , IT News , 8 September 2009.
Accessed 11 November 2015.
10. ^ "Glo 1 Submarine cable lands in
Lagos" , Vanguard, 06 September 2009.
Accessed 11 November 2015.
11. ^ Eribake, Akintayo (6 September 2009).
"Glo 1 Submarine cable lands in Lagos" .
Retrieved 27 December 2016.
12. ^ "Nigeria: GLO -1 Berths in Accra" . 29
September 2009. Retrieved 27 December 2016
– via AllAfrica.
13. ^ "The Nation Newspaper Nigeria - Read
Latest Nigeria News" . Retrieved 27
December 2016.
14. ^ Nkanga, Efem (14 September 2006).
"Nigeria: Globacom is 100 Percent Nigerian
Company - Jameel" . Retrieved 27 December
2016 – via AllAfrica.
15. ^ "Cellular-News" . Retrieved 27
December 2016.
16. ^ IT Edge News
17. ^ IT Edge News
18. ^ "Africa: GLO Congratulates Africa On
Ghana's Victory" . 19 October 2009.
Retrieved 27 December 2016 – via AllAfrica.
19. ^ "Glo Lagos Marathon" . Retrieved 27
December 2016.
20. ^ "Nigeria: Glo People Police Marathon -
Fighting Crime Through Sports" . 27 April
2009. Retrieved 27 December 2016 – via
AllAfrica.
21. ^ "Ojudeoba Festival" . Retrieved 27
December 2016.
22. ^ This Day Online Archived
2007-06-21 at Archive.is
23. ^ "hotel luggage carts - Best Moving
Equipment For Football Gear" . Retrieved 27
December 2016.
24. ^ Giwa, Sherifat (1 April 2008). "Nigeria:
Globacom Signs MoU With West Africa's
Biggest Theatre Festival" . Retrieved 27
December 2016 – via AllAfrica.
25. ^ "404:Page Not Found -Ghanafa.org" .
Retrieved 27 December 2016.
26. ^ Goal.com , 2009-11-02.
27. Glo Introduces 4G LTE and Data Plan in
Nigeria
External links
Official website
Content is available under CC BY-SA 3.0
unless otherwise noted.
Terms of Use • Privacy • Desktop
Globacom
Globacom Ltd.
Type Private
Industry Telecommunications
Founded 2003
Headquarters Lagos , Lagos State,
Nigeria
Key people Mike Adenuga (Chairman)
Paddy Adenuga (Group
Executive Director)
Bella Disu (Group
Executive Director)
Products Mobile Networks, Telecom
services, etc
Revenue $ 1.178 billion (2013)
Number of
employees
2,545 (June 2009)
Website www.gloworld.com


Post info for MTN...thief

oodualover:

Let them close their account and stop beating their hairy chest here.
GTB does need ibos.

They will be the ones to cry blue murder when reality hits them straight in the face.GTB had taken the brunt of taking Innoson to where he is now as per IVM and none of these Ojukus applauded them but a little altercation and their usual tribalism came to the fore...Igbos are clowns.

Cooly100:


Which Yoruba ICT company is bigger than Computer Wa...Group alone, who manages the software used by almost all the banks in Nigeria? It is owned by an Igbo...

See yoy life...so because Igbos are covetous... and they want to leave Nigeria...Your tribes man starved and killed millions so that the would stay?

Now who is getting frustrated....?

Hahahaha..

lol..you could not name any Igbo company in ICT except your one and only zinox which Glo will buy one million times not to talk of Yorubas' Omatek,Main one etc.Trading does not build an economy,industry does and Yoruba has this.Anybody can be a trader even last mumu but only the gifted are industrious like the Yorubas.May God forgive us.

Electricdangerr:
[s][/s]

Freefool, Ogun state is owing nothing. The dead Imo state is owing 10 month salaries, yet have the money to erect statues everywhere. Abia is owing 6 month salaries, don't have to search for other sad beast states cos am not even interested in your dead region.

ABIA l Governor Owing 6-Month Salaries, Secondary Schools Shutdown
http://leaders.ng/abia-l-governor-owing-6-month-salaries-secondary-schools-shutdown/

They are owing salaries even though most of them run away from the state to the SW, they still cant pay salaries. You are all doomed forever.

Very correct.Poverty is chasing them to the SW.I am sure this Ojuku sleeps in his 2x2 shop like millions of his brothers and sisters in Lagos.

Cooly100:


Can you in your entire life...predict how much is generated daily in Computer Village, Aspanda, Alaba, Building material market Alaba Suru and orther mega markets in Lagos alone?

Igbos went to their place in 1967, guess who starved and killed millions of children to make them return to Nigeria...Is this yoruba man...who was in jail at that time...

All what is garnered in these spots are not up to the financial giveaway or takehome dough of just 1 Yoruba ICT coy.As for the war,covetousness of the Igbos caused that.Blame your natural longthroat.

goldviaggra:
You stand by ritualists skull miners and other criminals. Well done.

Anything you call them is better than using factory babies for rituals everyday and eating factory babies skulls which is synonymous with Igbos.

[quote author=Killitoff post=63480347][/quote] Even UNO confirms their poverty...lol

uglyafonja:



Ogun state that is filled with salary earners....

We are talking of individual money and this slowpoke is talking about State IGR...

The IGR that does not reflect on the people...

Go to Abeokuta and you will see what is called poverty....

Milking the poor people dry in the very name of boasting with high IGR....A typical life of an AFONJA..


How much do the company pay those AFONJA workers......

A common Igbo distributor in those company makes more money than 20 workers in those company


GTB will lose full time..

They should go to Ibadan or ogun and collect people salaries

Success of a bank is mainly determined by the patronage of industries which Yorubas have in abundance not kobo kobo loan that Ibo traders take.
The advanced countries are mostly not traders like the Igbos but owners of industries and salary earners like the Yorubas.Trading does not develop an economy, industries do.
Talking about poverty,everybody even the UNO knows there is massive poverty in Igboland reason everybody is running away from there.

uglyafonja:



Ogun state that is filled with salary earners....

We are talking of individual money and this slowpoke is talking about State IGR...

The IGR that does not reflect on the people...

Go to Abeokuta and you will see what is called poverty....

Milking the poor people dry in the very name of boasting with high IGR....A typical life of an AFONJA..


How much do the company pay those AFONJA workers......

A common Igbo distributor in those company makes more money than 20 workers in those company


GTB will lose full time..

They should go to Ibadan or ogun and collect people salaries

Success of a bank is mainly determined by the patronage of industries which Yorubas have in abundance not kobo kobo loan that Ibo traders take.
The advanced countries are mostly not traders like the Igbos but owners of industries and salary earners like the Yorubas.Trading does not develop an economy, industries do.

Uchihaitaci:

,
Are you mad ?

I think you are totally insane... Read my comments again you big f00l.

I am just being civil with you but I think you are really going over the bend.Are you inside any factory there?

Uchihaitaci:


You are a slowpoke, read all my past posts before commenting on one. i was responding in kind to a very tribalistic attack. Dont be daft man!!!

I will advise you not to be daft too.Thought you are one of those pushing for endGTB tag.The resultant effect might not be palatable to bothYorubas and Igbos.GTB had been helping a lot of Igbo bizness men to stand on their feet and prosper,I do not know why a little altercation like this will facilitate some people playing the ethnic card. Igbos should remember that Yorubas own,rule,dominate and conntrol Lagos and this is where the Igbos had made it more than anywhere in the world.Tell me what will happen if you are told not to open your shops for 2 months or more.
A tiger never shouts its tigritude.

Uchihaitaci:


Nah bruv, you sound lika dunce.. is it the armed robbery , rape , ATM fraud, mortgage fraud, pension fraud, indentity theft proceeds that you guys generate that will keep a bank afloat?

Sometimes I pity you Ibo guys turning everything to tribal wars.GTB and Innoson have been doing bizness for a long time.It was even GTB that brought him up to this level.Don't you know that if you successfully boycott GTB because of ethnicity, Ibos will lose more because they are mostly traders who depend on the buying strength of others especially Yorubas.They will boycott your wares and your banks and trust that you will lose more than the Yorubas because Yorubas have massive industries that can sustain their banks and influence on the white people and Asians coys in their lands.If you continue your no-brain hashtag,we would start one that will spell doom for the entire Igbo race.We do not always act irrationally because deep thinking is a great asset.A stitch in time saves nine.

mbos:
Now those who said the DNA test was false where are you

don Carlos said


Woe be unto those
That shed innocent blood of Jah people
Whoa oh, ah yeah, whoa oh

Jah shall clean, out the bad weeds, yeah
And separate them from the good
'Cause the day of harvest is near
Whoa, whoa, wooy, wooy, whoa oh

Jah shall clean, out the bad weeds, yeah
And separate them from the good
'Cause the day of harvest is near
Whoa, whoa, wooy, wooy, whoa oh

Woe be unto those that say they're of Israel
And they are not
Woe be unto those that say they're Jews
And they are not
'Cause they shall be cast away
Like the chaff that the wind, driveth away, I say
Oh yeah, oh well

Why do you want to be Jews for God sake?
Don't you want to be Christians again?

Stingman:


All your leaders from A to Z are all ex-convicts...True or false? Is that easy for you to understand...? What were they fighting for...? They were trying to emancipate themselves from the evil federation...slavery...but you Yoruba Muslims prefer the caliphate...

Better than been an Igbo slave and coward.

Stingman:


Liar, coward...Do you have tail?

What did you do to the people that made all your leaders ex-convicts...including your former and new Aare Kakanfo?

I do not have have to remind you that you are an Ojuku.Face the topic and do not carry the goalpost. Do not do an Ojuku on me.Do you know that Ojuku is universally known as MISS OJUKU..lol

Stingman:


Which truth? Are you hearing voices in your head, while you are alone? Or can't you read?

THIS TRUTH:
If you really care,go back to when we were practicing regionalism.Which region was the best in all ramifications especially economy...THE YORUBA WESTERN REGION OF COURSE...We even borrowed your people money 2 times because of their laziness.Yorubas made Igbos

imhotep:

you want Igbos to leave Lagos by fire by force

Abakaleke,the real Lagos of the Igbos will determine Igbos fate.

BIAFRONIGERIAN:


We've been here before ojujuwa fell down from palmtree. This place belongs we

SE has been in the SW even before Aworis discovered Lagos.Ojukus and gibberish

The funny thing is you will be carried to your Abakaleke when you kick the bucket and dumped in your real Lagos

Stingman:


I can now see you love clowning...

What were you doing when they got to Ore...all the way from Enugu? The FG was prostrating, begging the world powers to come to their aide...Even what all the weapons they couldn't still win for 3 years... They had to use starvation as they are cowards...who can ONLY threaten little children, woman and the most vulnerable...Shame.

Yorubas did not join your stupid war not until you stepped on the tail of the lion.

Stingman:


Why didn't you borrow your cousins in Port Novo money, to be like you?

I bet you will choose a person from Contonu before an Igbo person...just like Buhari voted a man from Niger as OAU secretary general instead of an Igbo from his country Nigeria...

Kiss the truth...

Thank God you accepted the truth.

Yorubas made Igbos

Stingman:


Who are they?...Are the Igbos included...? The had grown balls to even fight a physical war...Guess who worked with the others to starve children to death, when the cowards coudn't match the Biafran soldiers...They are the Yorubas..

They had to do that so they do not wipe you off the face of the earth.Remember you stepped on the tail of empire builders..Yorubas.. who fought for 100 years home and abroad without defeat.You remember how 170+ plus Afonjas decimated battalions of Ojukus at Ore.It would have been disastrous if only 500 Yoruba soldiers invade your weakling soldiers in your alaigbo and finish off all of them.Would you like that?

Stingman:


Lagos and entire Nigeria is the way it is now because God blessed Nigeria with the Igbos...

Without the Igbos Lagos wouldn't be any different from Port Novo, Benin republic. They are your cousins and they also have seaport like you. Why are they not like you? Same as the north...They wouldn't have been any different from Chad and Niger...

But you envious people can't see it...

You can also use sports as an example...These people you always want to bring down, makeup 75% of your national team in almost all the sports...

If you really care,go back to when we were practicing regionalism.Which region was the best in all ramifications especially economy...THE YORUBA WESTERN REGION OF COURSE...We even borrowed your people money 2 times because of their laziness.Yorubas made Igbos.

Stingman:


NA also small thing OBJ did to Ibeto cement, so Dangote will have no competition..then to SLOK Air, Capital oil ...

Why can't you people be able to compete? In education hey bring cut off mark. In civil service they bring quota system...but in the army, navy customs and Immigration, they use something else to suppress the talented Igbos...What a useless country....

That is why we call you cowards and weaklings.You cry over little things.Why don't you brace up like real men and fight your war without bringing Yorubas into your madness.They did more than this to Abiola,Bi-Courtney etc but Yorubas fought their wars like the warriors they are.Grow some real balls,Ojukus

Stingman:


Believe me, these yogo and gala sellers make more money than your agbo sellers!

Ojuku said more than that but ran away in the dead of the night.Everybody knows you dominate 90% of the economy of Nigeria and Lagos with your mouths just like Ojuku.Have you paid your accumulated rent to your real landlord,Shukueku?

nairaland20:


They have already dominated ur land nd u can't do anything about that apart from insulting them online... Go to Lagos nd Chase igbos out. Coward only hv strength online.

They have really dominated and we are begging Ambode not to de-dominate them from selling fan yogo and gala in the traffic

BIAFRONIGERIAN:
Isreali Prime Minister Benjamin Bibi Netanyahu, recognises Biafrans yesterday in Jerusalem, calls them part of the Israelites who are scattered all over the world. 
He made this known in his speech while addressing the media on the need for every country to support trumps declaration of Jerusalem as Israel capital.

I use this opportunity to acknowledge the few countries who supported the declaration including Prince of Saudi Arabia,Czech Republic and our  biafra brothers in Nigeria,he said 

He also said that its time for the Jews who are scattered all over the world to come home and help make Isreal great.





https://edujandon.com/2017/12/isreal-prime-minister-yesterday-recognized-biafra-as-part-of-israelites-scattered-allover-the-world-4.html/

That is very good even prince of Saudi is a jew...


I use this opportunity to acknowledge the few countries who supported the declaration including Prince of Saudi Arabia,Czech Republic and our biafra brothers in Nigeria,he said

anonimi:

Thanks for the compliments and sorry for the offensive part of my comment. Cheers.

You are welcome, thx.

anonimi:


What can I say to someone who has low aspiration
Do you think this is how oyinbos hold their public servants accountable such that their countries are so nice we risk death in the Sahara desert, slavery in Libya and death in the Mediterranean Sea to be underemployed second class citizens in their cold countries?

lol...low aspiration?..only if you knew me.I really like what you are doing,putting them on their toes.So they would know they are being kept tab on.I am just saying the reality here.I am not a politician and I do not like them because they have affected our lives mostly negatively but Tinubu had been a little different because of the positive results we are witnessing in Lagos.Keep up with the criticisms because I believe you want the best for everybody.

anonimi:


He has more than enough budget to play with hence his theft and looting is not easily noticed by his mumu citizens.




www.nairaland.com/attachments/3213410_123734029141739986671921817315194288314944n_jpeg30240e3a3f628f43ccda99d6a1027a5c


www.nairaland.com/attachments/2761086_thief_jpegfa5a8983f640aa30ef083e7a4f98b900

As much as I do not like Tinubu,don't you think he is better than all the other politicians joined together? What we need is result.The greedy politicians will always steal but with negative result on their states and nation but Tinubu's case has been totally different,he had been very lucky and had brought development to Lagos even when he systematically steals.Lagos is the fifth economy in Africa and going to be the third very soon.I wish Tinubu more 'stealing'if it will continue to make Lagos grow positively. I think Tinubu is playing out his destiny which is to grow whatever he lays his hands on.Give him Nigeria and watch it grow.It is his destiny.We cannot fight God.I like what you are doing so that they will know they are being monitored.

Lagos start-up expands with a new online platform WaraGifts.


In a week when eCommerce Konga Nigeria slashed staff, Lagos start-up WaraCake.com, has expanded with a new online platform WaraGifts, providing high-quality gifts.

The new service, WaraGifts, places a lot of emphasis careful selection of merchants who retail unique gift items only. WaraGifts has a vast selection of products for every occasion, each one uniquely created to suit various needs.


https://www.appsafrica.com/lagos-start-up-expands-with-a-new-online-platform-waragifts/


According to CEO, Olatunde Ayilara, “the WaraGifts brand will gradually position itself as a brand delivering unique gifting experiences in Africa”. It’s parent company, WaraCake.com presently dominated the online cake retail space in Nigeria with delivery activities in major Nigerian cities and expansion plans to more countries within the next years.

Having benefitted from the Tony Elumelu Foundation, WaraGifts plan to become a leading player in the gifting space by the provision of quality products, unrivalled services, competitive prices and amazing customer relations.

Partner brands are authentic, trusted and reliable. The product has launches in Lagos Nigeria as of 8th of December 2017 just in tune for the holidays.

Nigeria Refining Push Prompts $3.6 Billion Petrolex Plan
By Emele Onu

December 6, 2017, 2:02 AM PST Updated on December 6, 2017, 5:45 AM PST

Plant in Ogun state will have 250,000-barrel-a-day capacity

Government seeking to end petroleum-product imports in 2 years

Nigeria is set to get another new oil refinery as a government push to end fuel imports attracts investors to the industry.

Petrolex Oil & Gas Ltd. plans to build a $3.6 billion plant with a capacity of 250,000 barrels a day, Chief Executive Officer Segun Adebutu said in an interview in Lagos. The closely held company is working on the “front-end engineering design” and will complete construction in 2021, he said.


Nigeria, Africa’s biggest oil-producing nation, doesn’t have adequate refining capacity and imports at least 70 percent of its needs. A government pledge to end such purchases in the next two years by building local capacity has lured investors including Africa’s richest man, Aliko Dangote, who is constructing a 650,000-barrel-a-day refinery. Meanwhile Saipem SpA and other international companies are in talks to rehabilitate the country’s three existing plants.

Petrolex, whose CEO started an oil and fuel trading business about 12 years ago, has also built a storage-tank farm and other “mid-stream infrastructure” for $330 million, Adebutu said Dec. 4. The inauguration of the tank farm and the start of refinery construction -- both at the same site in Ibefun, Ogun state -- is planned for this month.

The tanks are connected to a pipeline at Mosimi, which will transport products around the country, according to the CEO, who sees a big market in Nigeria’s 180 million-strong population. Petrolex will finance the refinery project with loans from Nigerian banks and international lenders, as well as its own revenue, he said.

The company also plans a fertilizer plant and lubricants facility as well as a liquefied petroleum gas plant, Adebutu said.

Petrolex is targeting listing on the Nigerian Stock Exchange in the next 10 years to ensure the business “outlives its owners” and can fund future expansion, according to Adebutu. “By the next five years we would have achieved a significant amount of our ambition, then begin strategy talks with the stock exchange.”

The company’s current workforce is about 3,000 and Adebutu expects to employ about 10,000 people directly by 2021 when all the energy projects will be “up and running.”

https://www.bloomberg.com/news/articles/2017-12-06/nigeria-s-refining-push-prompts-3-6-billion-plan-from-petrolex

Ihatepork:
November 22nd, 2017 Editor Economy 0 comments

A three-year data dealing with the direction of manufacturing and agro processing investments show that Ogun is elbowing Lagos in new investments.

[b]Data by the Manufacturers Association of Nigeria (MAN), analysed by BusinessDay, show Ogun State has over 70 percent share of manufacturing investments in the country between 2014 and 2016.

In 2014, manufacturers invested N691.77 billion, out of which N514.87 billion went to Ogun State, representing 74.42 percent of the total .

Apapa and Ikeja in Lagos contributed N15 billion and N85 billion to the investments respectively, representing a combined 15 percent of the total.

Out of the N180.12 billion invested in the manufacturing and agro-allied industries in Nigeria in the first six months of 2015, N128.3 billion went to Ogun, representing 71.23 percent. Ikeja and Apapa industrial zones got N15.74 billion and N6.98 billion, representing 8.7 percent and 3.9 percent share of the total respectively.

Similarly, manufacturing investments worth N309.33 billion were made in H2 of 2015, out of which N302.26 billion went to Ogun, representing 97.7 percent of the total. Apapa and Ikeja shared the remaining less than three percent with other industrial zones across the country.

In the first half of 2016, total investments estimated at N54.55 billion were made by manufacturers in the country, out of which N37.51 billion moved to Ogun within the period. This means that 69 percent of all investments within H1 of 2016 were channelled to Ogun State. Apapa and Ikeja shared the remaining 31 percent with other industrial zones such as Edo/Delta, Imo/Abia, Oyo/Ondo/Osun/Ekiti, Kano/Sharada/ Challawa, Kano Bompai, Anambra/Enugu, Bauchi/Benue/Plateau, Rivers, Kwara, and Abia.

In the second half of 2016, MAN survey shows that N313.62 billion worth of investments were directed to Ogun out of the total N448.94 billion. This represents 70 percent of the total. Like in the first half, Apapa and Ikeja industrial zones stampeded for the remaining 30 percent investments with other zones[/b].

MAN is the largest manufacturing association in West Africa with over 2,000 companies as members.

Frank Udemba Jacobs, president of MAN, told Real Sector Watch that manufacturers find Ogun as a good investment destination due to the government’s commitment to industrialisation.

“Manufacturers are happy with Ogun because they get incentives from the government,” said Jacobs.

Manufacturers say they get tax and land rebates in Ogun, which lowers production cost in the long run. It is also easier and seamless to get certificate of occupancy (C of O) in Ogun, a manufacturer in the food and beverage industry told BusinessDay.

There is also a one-stop shop that allows investors to have a single point of contact for their dealings with the various ministries, departments and agencies of the state.

The cost of doing business in the state is also less when compared with Lagos.

“There is less harassment from touts in Ogun and the traffic is light, while there is more available accommodation for staff in the state,” another investor told BusinessDay.

Jon Tudy Kachikwu, chairman of the SME Group of the Lagos Chamber of Commerce and Industry (LCCI), said it takes about 30 days for agro processors and SMEs to get C of Os in Ogun.

“You know businesses are many in Lagos, so there might be some ‘I don’t care attitude’ from some government agencies. Again , people prefer Ogun because of multiple taxation and cost of the environment in Lagos,” Kachikwu, an agro processor and exporter, said.

In the three-year review, more investments moved to Agbara, Igbesa, Abeokuta , Sango-Otta, Ibafo, Mowe, Ijebu-Ode and Sagamu industrial clusters, all in Ogun State.

In 2014 alone, new investors such as Shongai Technologies Limited, Ijako in Sango-Otta, Apples and Pears Limited, Ceplas Farms Limited, Greenlife Bliss Healthcare Limited, and Sumo Steel Limited, berthed Ogun.

In the last three to four years, manufacturers have either moved from Lagos to Ogun or relocated their factories to the state, leaving only administrative offices in Lagos. Some of the companies that have done that include Fidson Healthcare, May & Baker, Pure Chemicals, Eagle Packaging, Nycil Limited, and Dufil, among others.

“Seventy manufacturing companies were established during first four-year tenure of Governor Ibikunle Amosun of Ogun State and both existing and new companies were given some level of incentives and benefits that prompted rapid development in manufacturing sector,” said Bimbo Ashiru, commissioner for commerce and industry, said in 2014.

Analysts say Ogun is benefitting from proximity to Lagos. A research done by The Economist in 2015 showed that an average company in Lagos 956 hours per year in paying taxes. However, things are changing in 2017 as the recent Doing Business Index by the World Bank shows some positive changes in doing business in Lagos.

http://www.businessdayonline.com/industrial-data-show-lagos-losing-real-sector-investments-ogun-2/

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