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OAU, Others To Benefit From Duport Midstream Internship

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By Joseph Kanjo, Benin

Obafemi Awolowo University, OAU, Ile-Ife and five other top Nigerian universities are to benefit from internship of Duport Midstream Company Limited (DMCL), an energy park, as soon as the company kicks start operation.

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Dr. Akintoye Akindele, the Chief Executive Officer of the company who made the disclosure during an inspection tour of the facility alongside other partners in Egbokor, Orhionmwon Local Government Area of Edo State, said 100 students drawn from Engineering departments, OAU, would be taken for internship as soon as the company kicks off operation, April, 2022.

According to him, second phase of the internship would accommodate six hundred students of Engineering departments from six top Nigerian universities, adding that they would be renumerated based on the nation’s minimum wage.

L-R: Kunle Soriyan, CEO, Africa House; Dr Benedicta Oyiana, Partner, Platform Capital; Lerato Molebasti, board bember, Platform Capital South, Africa; Tosin Odunsanya, Director, Duport Midstream; Kenny Nwosu, CEO Norsad Capital; Teshome Nkrumah, Deputy High Commissioner, Canadian High Commission; Dr Akintoye Akindele CEO, Duport Midstream, Oteng Sebonego, Investment Director, Norsad Capital; Gregory Georges, CEO, West Indies Oil Company, Antigua; ,Adeola Ajibade, Partner,  Platform Capital South Africa; Prof. Eyitope Ogunbodede, Vice-Chancellor OAU; Prishani Satyapal, Partner, Platform Capital; Shakti Satyapal, Director, Sustainability Truthing; Dr. A. S. Osunleke, Lecturer, OAU; Oludare Odejobi Ag. HoD. ,OAU; Tomi Amosun, CEO, Summit Oil; Samantha Petersen, board member, Platform Capital South Africa; Oje Ologun, Sector Head, Oil & Gas Access Bank Plc, and Dr Ogho Okiti, Managing Director, BusinessDay newspaper

The CEO who took partners of the company during the tour to various units of the company, said the first phase of the facility, which has a modular refinery operations, gas processing facility, data centre and power plant, would commence operation by April 2022.

“We are proud to announce to give 100 students internship every year to experience this project. For a start, we will offer internship programme to 100 students from Obafemi Awolowo University, Ile-Ife and their emoluments will be based on minimum wage and will be housed in the staff’s quarters. (Sic)

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“Afterwards, it will be extended to top six universities across the country, amounting to 600 students per annum,” Akindele said.

Akintoye Akindele, CEO, Duport Midstream (Left) and Prof. Eyitope Ogunbodede, Vice-Chancellor, OAU, during the inspection.

He added that the project has over 70 percent local content with 95 percent total workforce being Nigerians.

“This is an energy park from a point of view of all the sources such as gas, power, oil and then added data centre technology. 

“We have fused old industry of energy and new of technology to create a carbon-accretive, modern day business that not only impart environment positively, create jobs and also boost confidence of local engineers. (Sic)

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“Hundreds of millions of dollars have gone into this project and this is 99 percent locally funded by government through the Nigerian Content Development Board (NCDMB), by bankers through the First City Monument Bank (FCMB), Union Bank, Zenith Bank and Polaris bank.  percent of that funding has been local shareholders.”

Prof. Eyitope Ogunbodede, Vice-Chancellor of Obafemi Awowolo University, while expressing gratitude to Duport, said the institution is ready to work with the firm.

READ ALSO: OAU Postgraduate Student’s Murder: Hotel Owner Made Audio Before His Arrest — Osun Police

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“I am here as the Vice-Chancellor to represent the management, staff and students to say thank you to the partners of this project. We believe there are mutual benefit we can drive from this partnership.

“We are looking forward to a time when our students will be here to enjoy the good things happening to Nigerian students. We are not only talking of our students, our staff will also want to be here to see how they can work with the company,” Ogunbodede said.

Partners present during the inspection are: Tomi Amosun, Chief Executive Officer, Summit, South Africa; Teshome Nkrumah, Deputy High Commissioner, Canadian High Commission; Prishani Satyapal, board member, Platform Capital, South Africa; Matthew Pratt, Norsad Capital, South Africa;

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Dr. Akintoye Akindele (right) explaining operation of the company to some of the partners.

Others are: Lerato Molebasti, member, Platform Capital, South Africa; Samantha Petersen, Platform Capital, South Africa; Adeola Ajibade, Partner, Healthcare and South Africa, Platform Capital and Shakti Satyapal, Director, Sustainability Truthing, South Africa.

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NNPCL Increases Fuel Price

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The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

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This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

READ ALSO:Fuel Station Manager, Three Others Arrested For Robbery

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

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This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

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Naira Appreciates Against Dollar As External Reserves Swell

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The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

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READ ALSO:Naira Continues To Appreciate Against Dollar On Official Market

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

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The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

 

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Naira Continues To Appreciate Against Dollar On Official Market

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The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

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This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

READ ALSO:Woman Arrested For Killing, Selling Pregnant Nurse’s Body Parts

Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

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Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.

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