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Senate Chides IOCs For Neglecting Petrochemicals

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The Nigerian Senate has criticised international oil companies for not investing in the petrochemical industry.

The Chairman, Senate Committee on Local Content, Natasha Akpoti-Uduaghan, said the committee would invite the international oil companies on the need to invest in petrochemicals.

Petrochemicals refer to a wide range of other products made from petroleum, including plastics, fabrics, fertilisers, paints, and medicines.

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The global petrochemicals market size was valued at $619bn in 2023 and is expected to grow at a compound annual growth rate of 7.3 percent from 2024 to 2030, a report by Grand View Research has revealed.

READ ALSO: Reps Meet Tompolo, Inspect Arrested Vessels

According to a statement on Friday by the Nigerian Content Development and Monitoring Board, Akpoti-Uduaghan spoke at a meeting with the NCDMB in Abuja.

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“The committee chair criticised the international oil companies in Nigeria for not investing in the petrochemical sub-sector and other associated manufacturing activities, whereas IOCs in other oil-producing jurisdictions make such investments and contribute significantly to those economies.

“She announced that the committee would invite the IOCs and other relevant agencies of government, with a view to compel the companies to create tangible value in the Nigerian economy beyond the extraction and sale of crude oil,” the statement read partly.

Akpoti-Uduaghan was quoted as saying, “We need to get them round the table and tell them what we want as a country as against watching them export crude oil only.”

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She assured all that the committee would not antagonise the board and other entities under its supervision but would collaborate towards effective implementation of the board’s mandate for the benefit of Nigerians.

She had expressed concern “over the parlous state of the economy, particularly the alarming level of unemployment which has fuelled an increase in criminality”.

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The Senator emphasised the need to deepen the implementation of the Nigerian Oil and Gas Industry Content Development Act, to create employment opportunities from the activities in the oil industry and catalyse other sectors of the economy.

READ ALSO: CHEATERS: How DisCos Over-bill Customers By N105bn In 9 Months

The Kogi Central lawmaker had requested the board to submit performance reports on the implementation of the NOGICD Act, specifically on the Board’s third-party investments, capacity-building programmes, expatriate quota management and research and development, while seeking recommendations on the sections of the NOGICD Act that needs to be amended by the National Assembly.

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In his comment, the Executive Secretary NCDMB, Felix Ogbe, explained that most oil conglomerates have different arms, which include the downstream companies which make such investments in the petrochemicals and linkage sub-sectors.

He, however, noted that most operating companies in Nigeria do not have such subsidiaries in the country, hinting that the board is willing to support indigenous firms that are interested in such ventures.

Ogbe said, “The board lacked the mandate to compel the IOCs to change their business model in Nigeria, but was collaborating with some oil companies to develop the Nigerian Oil and Gas Parks Scheme which is designed to manufacture oil and gas equipment and components as well as other manufacturing and research and technology programmes”.

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Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan

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Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.

Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.

He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.

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READ ALSO: Wale Edun Opens Up After Sack

Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.

“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”

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He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.

He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.

Watch the video here

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Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

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Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection

It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

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Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

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Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

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Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

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Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

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READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

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Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

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I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

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