Advertisment

news

INVESTMENTS IN LEKKI’LL MAKE LAGOS NEXT BUSINESS DESTINATION IN AFRICA – AMBODE

Published

6 years ago

May 20, 2018

Sahara Weekly

Advertisment

…Inspects Dangote Industrial Jetty, Other Projects In Ibeju-Lekki, Epe, Ojota

…Ongoing Projects In Lekki Free Trade Zone Largest Worldwide, Says Dangote

Lagos State Governor, Mr Akinwunmi Ambode on Sunday inspected the ongoing projects in the Lekki Free Trade Zone, saying the massive investments being jointly made in the axis by government and the private sector was targeted at making Lagos emerge as the next destination for business in Africa.

Governor Ambode, who inspected the progress of work alongside cabinet members, billionaire businessmen, Aliko Dangote and Femi Otedola, among other businessmen, said the investments and the infrastructural renewal in the Lekki-Epe axis simultaneously ongoing were geared towards preparing the State for industrial revolution taking place in Nigeria and by extension the West African region.

He said it was gratifying that remarkable progress had been made since the last time a major inspection tour of the projects was carried out, saying the investment activities at the zone would positively impact on the economy of the State.

He said: “We have just inspected the ongoing jetty project being done by Alhaji Aliko Dangote. You are all well aware that we flagged off the construction of Lekki Deep Sea Port some few weeks ago but more importantly this jetty is being done by the Dangote Group to more or less facilitate the movement of their heavy duty machinery to the petrochemical plant and other projects they are doing in this Lekki Free Trade Zone.”

While reiterating the commitment of the State Government to continue to encourage and support investors to continue to do what is right for the economy, Governor Ambode said no efforts would be spared in providing the conducive atmosphere for investments to thrive in the State.

“What we are doing more importantly, as a government, is to continue to encourage the Dangote Group to do what is right for this country and for us to join hands together and collaborate to really show that Lagos is the next destination for the industrial revolution that is taking place in Nigeria and we are very happy to be doing this with him because we know that with the kind of infrastructure that we are providing around Lagos and the kind of infrastructure he is also providing, this place should be the next destination for anybody that is interested in investing in Nigeria.

“That is what this Lekki Free Trade Zone area is all about; that is why a whole lot of what we are doing in the Epe and Lekki axis in pieces more or less when they come to fruition will really show that Lagos is the next destination for investment in Africa,” he said.

Earlier, Dangote said the combined projects under construction at the Lekki Free Trade Zone was the largest anywhere in the world, and that it was important for the right message about the axis to be communicated to the people to appreciate its impact on the economy.

He said: “What is happening here is the largest project anywhere in the world today and this visit is just to show the Governor the industrial jetty that we have built including the water breaker which is 900meters which is almost like about a mile.

“This is to show what we have done in terms of bringing in our cargo to build the refinery. We have done quite a lot in terms of water protection and also it is environmentally friendly and this is what we have shown the Governor.

“This is just showing that this place is going to really open for business and we are looking for a lot of infrastructure to be built and this place will be the next destination for any investment in Nigeria.”

Also speaking, Lagos State Commissioner for Commerce, Industry and Cooperatives, Mrs Olayinka Oladunjoye, said the jetty when operational next month would facilitate the shipment of equipment to rev up the projects within the Lekki Free Trade Zone.

“This is a jetty that is being done by Dangote and by the end of this month, it will be ready for use. Some of the vessel and equipment that cannot come through the land will be coming in through the jetty and that is why this jetty has been built.

“I can assure the people that once the jetty becomes functional, most of the items needed for the fertilizer plant, petrochemicals, refinery and others will be put in place and this is very contingent to what is happening here. As a government, whatever they need in terms of support in all ramifications will be done,” Oladunjoye said.

Besides, the Governor also inspected the new Ojota Inter-state Bus Terminal under construction, ongoing road projects linking Lagos to Ogun State from Epe axis, among others in the Ibeju-Lekki zone.

Advertisment

news

You’re wicked,$720k for school fees in advance,”U dey take Kogi people play football” -prophet Ikuru

Published

20 hours ago

April 25, 2024

Sahara Weekly

Advertisment

By Collins Nkwocha

The prophetic Hall of fame, prophet Godwin Ikuru of Jehovah Eye Salvation Ministry, Lagos has reiterated that the former governor of Kogi state, Yaya Bello is a heartless, callous and wicked criminal that shouldn’t be allowed to go unpunished.

Advertisment

This is coming after the latest revelation that Bello withdrew $720k from the state funds to pay for his child’s school fees in advance by the EFCC chairman.

The handsome prophet who was visibly annoyed with the revelation by the EFCC boss said ” yaya Bello don pocket Kogi people so Tay e dey take them play football, this is wickedness,you have embezzled to the level that you don’t even know what else to use to embezzle anymore that you had to withdrew $720k for your child’s school fees in advance,you should be ashamed of yourself”.

He praised the EFCC chairman for doing a good job and helping the nation to recover her looted resources.He praised the president, Bola Ahmed Tinubu for helping the nation in the fight against corruption.

Advertisment

news

Keep your mouth shut, you are the real criminal, you don’t have respect for elders, Prophet Ikuru blasts Yahaya Bello

Published

1 day ago

April 25, 2024

Sahara Weekly

Advertisment

By Collins Nkwocha

Advertisment

The prophetic Hall of fame, prophet Godwin Ikuru of Jehovah Eye Salvation Ministry, Lagos has blasted the former governor of Kogi state, Yaya Bello for evading arrest and making nasty comments about the government and EFCC.

The prophet was visibly angry that Bello went into hiding and started attacking the government and EFCC with nasty words.He said “yaya Bello does not have respect for elders,in facts he’s not fit to contest for any political position in Nigeria or hold any political position in Nigeria anymore, he’s a real criminal,yet, he’s still talking, he doesn’t not have respect for elders.Ododo should also be punished for aiding a criminal”

Bello was declared wanted by EFCC after evading arrest, he’s been on fugitive since then,many people advised him to submit himself for investigations and clarifications.Nigerians are eagerly waiting to see how this saga will end.

Advertisment

Business

Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment

Published

3 days ago

April 23, 2024

Sahara Weekly

Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment

Advertisment

… as FG endorses consolidated guidelines

Sahara Weekly Reports That Today, in a move to further revitalise the oil and gas industry’s contribution to the Nigerian Economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony at the Federal Ministry of Finance headquarters in Abuja endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a cornerstone of the Presidential Directive aimed at enhancing the Nigerian oil & gas sector’s global competitiveness whilst stimulating economic growth.

As disclosed during the signing, the Presidential Directives were developed and coordinated by the Special Adviser to the President on Energy, Mrs. Olu Verheijen to ensure a competitive framework for the Nigerian oil & gas industry. These Consolidated guidelines for the fiscal incentives are based on extensive collaboration across Finance and Petroleum Ministries and involved several key regulatory bodies including the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

According to Mrs. Verheijen, these new measures have been designed to deliver a competitive Internal Rate of Return (IRR) for Oil & Gas Projects and attract over $10 billion in new investments within the next 12-18 months. They also underscore Nigeria’s commitment to reaching its long term oil production target of 4 million barrels per day whilst enhancing the reliability of gas supply for to boost export earnings and fuel Nigeria’s industrialization.

Mrs. Verheijen disclosed that among the guidelines signed were the NUPRC Guideline on Hydrocarbon Liquids Content in a Non-Associated Gas (NAG) Field, essential for accurately categorising and quantifying the hydrocarbon liquid content in these fields. Additional guidelines focused on the applicability of tax credits and allowances for Non-Associated Gas Greenfield Development and the Midstream Capital and Gas Utilization Allowance, providing taxpayers with clarity on the computation of these benefits.

HM Edun, in his remarks, thanked President Bola Ahmed Tinubu for signing the directive in February 2024 to engender growth in the Nigerian oil and gas sector, which had stagnated for over the last decade. He also emphasised the potential of the guidelines, saying, “The idea is to create an atmosphere conducive to international competitiveness such that investment comes in. And in this case, we know it’s foreign direct investment”.

The signing ceremony was attended by various stakeholders, including NNPC Limited, Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG), further highlighting Nigeria’s unified approach toward reinvigorating its oil and gas sector.

Advertisment