Business
Snake Island To Attract $1bn Private Investment – Official
Published
2 years agoon
By
Editor
The Chairman and Chief Executive Officer of Nigerdock, Maher Jarmakani, has said that the new 45-year concession agreement for Snake Island Port with the Federal Government will attract about $1bn in private investment.
He also said that it will allow for expanded operational scope.
Jamarkani said this in a statement over the weekend.
He also said that the Nigerdock and Snake Island Integrated Free Zone has received approval from the Federal Government for the commencement and expansion of Snake Island Port.
Jamarkani added that the approval was an oversight of the implementation of major infrastructure projects across the country.
READ ALSO: IMF Rates eNaira Performance Low
“This new 45-year concession agreement for Snake Island Port with the Federal Government now allows for an expanded operational scope and will attract about $1bn in private investment.”
Jarmakani expressed happiness to the Federal Government for the development.
“We are immensely grateful for the support the Federal Government has shown to enable the expansion of our operations, which increases our value add to Nigeria’s economy and the actualisation of our long-term vision as a globally recognised maritime operator.
“This Public Private Partnership with the Government will also facilitate job creation and develop critical infrastructure vital for the nation’s growth.”
The statement also said that Nigerdock is a multipurpose port facility sitting on 85-hectare, comprising three terminals located within SIIFZ.
READ ALSO: 13 AAU Staff Sacked For Alleged Fraud, Sexual Harassment
According to him, “In addition to its operations in ship repair, logistics, and free zone solutions, Nigerdock had already been in terminal operations following approval from the Nigerian Ports Authority and Nigeria Customs Service.”
He said that Nigerdock was originally awarded free zone and port Status by the Presidency in 2005, leading to the establishment of Snake Island Integrated Free Zone in the same year.
“The NPA and Nigeria Customs Service also approved direct shipping for the facility in 2017, with the NPA green-lighting cargo handling operations in 2021.”
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Business
Dangote Fuel Sells Cheaper In Togo Than In Nigeria – Falana Laments
Published
10 hours agoon
September 15, 2025By
Editor
Human rights activist Femi Falana, SAN, has lamented that fuel taken from Dangote is cheaper in Togo than in Nigeria.
Falana expressed his concerns on Sunday while responding to questions in an interview on Politics Today, a programme on Channels Television.
He urged the federal government to review the proposed 5 per cent fuel surcharge and ensure that further hardship is not imposed on Nigerians.
READ ALSO:Dangote Refinery Reduces Fuel Price Nationwide, Provides Update On Petrol Distribution
“I guess the government wants to go back to the drawing table and ensure that it is not accused of multiple taxes or double taxation because consumers will pay VAT for buying fuel. They will now put an additional 5 per cent tax.
“I think this is what Nigerians are complaining about. And from what we just read today is that the Dangote fuel taken from Nigeria is now cheaper in Togo than in Nigeria I think about 65 naira.
“So, the government will have to review these developments (the proposed 5 per cent fuel surcharge) and ensure more hardship is not imposed on Nigerians,” he said.
Business
Falana Reveals Those Behind Subsidy Removal
Published
10 hours agoon
September 15, 2025By
Editor
A Senior Advocate of Nigeria, Femi Falana, has once again criticised President Bola Tinubu’s removal of the fuel subsidy.
Speaking in an interview on Sunday’s Politics, a programme on Channels Television, the human rights activist stated that no country in the world has completely abolished subsidies.
“There’s no way you can remove subsidy completely. No country in the entire world has abolished subsidies completely.
READ ALSO:Tinubu Subsidises Kidney Dialysis Cost By 76% In Federal Hospitals
“Even leading Western countries like the United States, the United Kingdom, France and others subsidise electricity, agriculture, and many aspects of the lives of their people.
“So, when the Nigerian Government said it was removing subsidies, as a matter of fact, if I must say this, it was the World Bank and the International Monetary Fund, IMF, that insisted that the government must remove all subsidies,” he said.
Business
‘We Like Greek Gifts,’ Nigerians Blast NUPENG Over Dangote’s Fuel Price Reduction
Published
2 days agoon
September 13, 2025By
Editor
The decision of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to warn Nigerians against accepting Dangote Refinery’s recent fuel price reduction has drawn heavy backlash on social media, with many citizens mocking the union and embracing what they described as “much-needed relief.”
Dangote had announced lower petrol pump prices in several states alongside a new scheme to deploy compressed natural gas (CNG) trucks directly to filling stations, a move expected to reduce logistics costs.
But NUPENG dismissed the offer as a “Greek gift,” alleging that the refinery was undermining workers’ rights, sidelining the union, and pushing drivers into a rival association.
However, netizens have lambasted the union, querying that during hard times, NUPENG has never supported the masses.
On X (formerly Twitter), Nigerians quickly turned NUPENG’s warning into a trending topic, using humour and sarcasm to lampoon the union.
READ ALSO:NUPENG Accuses Dangote Of Breaching Agreement, Says Nationwide Strike Inevitable
Oloye Somorin Osifeso (@OloyeSomorin) wrote: “We like Greek gifts in my garage.”
Just Jude (@JustJude) asked bluntly: “Is it your deception?”
Oladele (@Oladele) quipped: “As Dangote Refinery dey offer Nigerians Greek gift, why can’t NUPENG too offer Nigerians French gift?”
Agbalaka (@Agbalaka) queried: “Can they tell Nigerians what exactly they are fighting about?”
CBN Gov Akinsola (@Akinsola) joked: “Then give us Trojan gift now 😆. Man do man. Man no go vex.”
Omobalaji (@Omobalaji) teased: “NUPENG, oya surprise us with Arabian gifts.”
READ ALSO:Union Gloves vs Corporate Fists: The Dangote–NUPENG Showdown
Habdulakeem Bahdmus (@BahdmusHabdulakeem) added: “If Dangote is showering Nigerians with Greek gift, NUPENG can also set up a Roman gift now.”
Femi Yekinni (@FemiYekinni) steered it back to reality: “We thank them for their advice. Now, @DangoteGroup pls how do we schedule deliveries to Badagry?”
Curtis Abbi (@CurtisAbbi) slammed the union: “Nigerians will manage the Greek gift. @officialNUPENG9, what gift have you given Nigerians in your entire years of existence? NUPENG should offer Nigerians their own Somalian gift 🤣.”
Akin Adejola (@AkinAdejola) echoed the sentiment: “LOL. I can bet Nigerians don’t mind the gift. NUPENG should gift Nigerians same ‘Greek gift’ too if they have any goodwill. NUPENG is the enemy of progress in the oil & gas sector.”
READ ALSO:NUPENG Tanker Drivers Announce Strike Over CNG Trucks Dispute
Adeola Akinwande (@adeolarewaju9) criticised union leaders: “Does NUPENG remember Nigerians at hard times? They have all failed Nigerians the same way the @NLCHeadquarters has failed. They are living big on unionism and cashing out big time. Without unionism, some of their excos are nobody. They should stop the crocodile tears.”
Okunwa U. U. Azikiwe (@OkunwaUUazikiwe) argued: “Competition has created jealousy by the previous monopoly in the sale of fuel. They have lost control, and it is paining them that they are no longer in control. SMH!!!”
Solihull Abdulkareem (@SolihullAbdul) chipped in: “NUPENG or whatever, do you want the market to be monopoly? You’ve been doing what you want for many years. It’s time for change, just accept it and move forward.”
Temidayo (@Temidayo) asked: “It’s a lie. What benefits has your union provided for Nigerians? Middlemen syndrome has been room for corruption. Your association should go and buy shares in Dangote and work together to make Nigeria great.”
And LegalTech Sam Akanbi (@SamAkanbi) summed up: “Nigerians no longer want your Nigerian gift, we want the Greek gift. If you have a better offer, we’d abandon Dangote’s Greek gift and take yours. But for now, let the Greek gift go round.”
READ ALSO:NUPENG Mobilises Tanker Drivers, Petrol Attendants, Others For October 3 Strike
Recall that NUPENG earlier alleged that Dangote Refinery was forcing truck drivers to abandon its union for a rival group, the Direct Trucking Company Drivers Association (DTCDA).
The union also accused Dangote of undermining collective bargaining rights and violating a Memorandum of Understanding (MoU) signed under government supervision.
Dangote, however, denies the claims, insisting that union membership remains voluntary and that its delivery scheme is designed to cut costs and ease supply.
The federal government has intervened, with the Ministry of Labour and the Department of State Services mediating between both parties.
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