News
Osinbajo inaugurates 1.5 billion USD fertilizer plant in Port Harcourt.
Nigeria’s acting President, Prof. Yemi Osinbajo today in Port Harcourt inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion.
The acting President used the opportunity to remind all Nigerians that time has come for them to grow whatever they eat and produce whatever they consume.
“What Indorama is accomplishing today is very much in line with President Buhari’s vision for a country that produces what it consumes and grows what it eats. If you had to sum up our vision for the Nigerian economy in a few words, these would suffice. Grow what we eat, produce what we consume,” he said.
Prof Osinbajo commended Indorama for keying into the Presidential Fertilizer initiative which President Buhari launched last year to make fertilizers cheaper nationwide.
“At the end of last year, the President launched a Presidential Fertilizer Initiative, to ensure the availability of cheaper fertilizer to our farmers, to support what we’re doing in agriculture, in the production of rice and wheat and other staples.
“That Fertilizer Initiative, now well underway, has created significant economic opportunities for companies like Indorama Eleme Fertilizer & Chemicals Limited.
“I have been informed that Indorama will this year alone supply about 360,000 Metric Tons of Urea to Fertilizer blenders, which, in turn, will produce NPK fertilizer for the benefit of farmers across the country.
“This is the kind of economic progress we’re after, in which every unlocked opportunity proceeds to unlock several others, across multiple sectors of the economy.”
The acting President said that the Buhari administration will continue to support Indorama Eleme Petrochemicals Limited, which was privatised in 2006 by the Federal Government.
The plant has also generated lots of job opportunities contributing to the economic prosperity of Nigeria
According to him, the company has turned out to be a huge success story. “I am glad that we’re here today to see one of the success stories of the Federal Government’s privatisation programme,” he said.
“We will continue to support Indorama Eleme Petrochemicals Limited’s expansion ambitions. Our commitment to the privatisation programme is equally assured, and we will continue to do everything to support investors to maximise the potential of their assets,” he said.
Earlier in his address, the Chairman of Indorama Corporation, Mr Sri Prakash Lohia said that the plant which has capacity to produce 1.5 million metric tons of fertilizer per annum is the largest single-train Urea plant in the world.
The Acting President also presented a Certificate of Discharge to the Chairman of Indorama Group, Mr Lohia and the Managing Director, Mr Manish Mundra for successfully accomplishing the post purchase agreement entered into with the Bureau of Public Enterprises on behalf of the Federal Government of Nigeria.
“Following the 2006 handover, the BPE carried out routine monitoring on the enterprise to ensure that the core investor adhered to and implemented the post-acquisition plan it had laid out for the company.”
“Today is the culmination of that process of monitoring and oversight by the BPE. I am delighted that it is taking place on an inspiring and hopeful note, and that we are all here today celebrating a thriving and promising company. We should not take this state of affairs for granted,” he said.
The Plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizers per day or 1.5 MT per annum. The world-scale plant has been built with an investment of USD 1.5 billion, a huge Foreign Direct Investment, funded by the International Finance Corporation (IFC) and a Consortium of 15 European and African banks and Financial Institutions.
Governor Nyesom Wike of Rivers State, in his speech said that for Indorama to invest a whopping $1.5 billion in the state, it shows that the state is safe for investors and their investments. He called on other investors to emulate the footsteps of Indorama.
The fertilizer plant is well supported by Port Terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply.
The plant will bring about a green revolution in the agriculture sector not only in Nigeria but also in other parts of Africa and world at large.
Besides, making the fertilizer products to be available at affordable cost, the plant will boost crop yield to farmers and greatly help in minimizing the food grain deficit in Nigeria.
The plant has also generated lots of job opportunities contributing to the economic prosperity of Nigeria.
The construction of the plant commenced in April 2013 and completed in December 2015. The commissioning activities were concluded in March 2016 and the commercial production started in June 2016.
News
NAF Pharmacist Shines at 97th PSN Conference, Bags Three Prestigious Awards
Air Commodore David Olumuyiwa Babalola, a consultant clinical pharmacist in the Nigerian Air Force (NAF), has achieved an extraordinary milestone in Nigerian pharmacy practice, earning three prestigious honors at the 97th Annual National Conference of the Pharmaceutical Society of Nigeria (PSN).
Held from November 4 to 9, 2024, the conference celebrated Babalola’s exceptional contributions with the Biogenerics Integrity Award, the Pfizer Excellence Award, and the Fellowship of the Pharmaceutical Society of Nigeria (FPSN).
Babalola was recognized as the best overall public-sector hospital pharmacist in Nigeria, clinching the Biogenerics Integrity Award. This esteemed honor, accompanied by a ₦1,000,000 cash prize, celebrates excellence in patient care, career achievements, innovations, training, research, professional service, philanthropy, and leadership in public hospitals.
Adding to his accolades, he was one of four pharmacists nationwide to receive the Pfizer Excellence Award. This award highlights outstanding contributions to hospital and community pharmacy and includes a ₦250,000 cash prize, a commemorative plaque, and a certificate.
Representatives of Pfizer Nigeria presented the award during the conference’s grand closing banquet at Flairmore Event Centre, Uyo.
This achievement makes history as Babalola becomes the first pharmacist in the Nigerian Armed Forces to win a PSN-sponsored corporate award since its inception nearly two decades ago.
In his acceptance speech, Babalola expressed gratitude to Biogenerics Nigeria Ltd and Pfizer Nigeria for their sponsorship, which he said inspires excellence in hospital pharmacy practice.
He also acknowledged the Chief of the Air Staff, Air Marshal HB Abubakar, for fostering an enabling environment for pharmacists within the NAF and for approving the implementation of the Pharmacists Consultant Cadre in the force.
Babalola’s accolades were further crowned by his conferment with the Fellowship of the Pharmaceutical Society of Nigeria (FPSN), the highest honor awarded to pharmacists in the country. This recognition, reserved for individuals who have rendered exemplary and meritorious service, solidifies Babalola’s status as a trailblazer in the field.
As the first pharmacist in the Nigerian Air Force to attain the rank of air commodore, Babalola’s career is marked by groundbreaking achievements.
His latest recognitions underscore his relentless commitment to advancing pharmacy practice in Nigeria and inspiring a new generation of pharmacists.
The investiture ceremony for his FPSN honor is slated for early 2025, promising yet another celebration of his outstanding contributions to the pharmacy profession and the Nigerian Armed Forces.
News
NGO Launches Ibadan Food Bank Project to Combat Hunger Among Vulnerable Nigerians
The Founder and Executive Director of the Temmy Helping Hands and Youth Empowerment Foundation, Mrs. (Pastor) Elizabeth Bakare, on Saturday unveiled the Ibadan Food Bank Project during the foundation’s 2024 annual convention in Ibadan.
The initiative tagged “Let Nobody Go to Bed Hungry,” aims at tackling food insecurity and hunger among Nigeria’s most vulnerable populations”.
Mega Icon Magazine recalled that a recent survey by the National Bureau of Statistics (NBS) has highlighted the severe economic challenges faced by Nigerian households, revealing that two-third of the population struggle to afford healthy and nutritious meals.
The survey titled “Nigeria General Household Survey – Panel (GHS-Panel) Wave 5 (2023/2024)”, noted the worsening multidimensional poverty and the erosion of purchasing power due to the persistent rise in the cost of goods and services.
According to the report, approximately 63.8% of households have been forced to eat only a few kinds of food due to financial constraints. About 62.4% of respondents admitted worrying about food insufficiency, while 60.5% ate less than they thought they should.
“The situation has deteriorated significantly since the last survey, as the proportion of households expressing food insecurity concerns rose from 36.9% in the previous wave to 62.4% in the current one”, the report reads further.
Speaking at the unveiling in Ibadan, during the 2024 annual convention of the foundation, Mrs. Bakare described the alarming rise in hunger caused by the nation’s economic challenges, including the removal of fuel subsidies and the increasing exchange rate, which have led to soaring food prices.
She noted that these conditions have placed immense strain on widows, single parents, orphans, and other underprivileged groups, making it imperative to act swiftly.
The Ibadan Food Bank is set to provide food support to 2,500 individuals monthly, with plans to expand its reach to 30,000 beneficiaries annually by 2029 and 105,000 per annum by 2034.
The initiative incorporates several interventions, such as the free distribution of essential food items, a food subsidy programme offering discounted staples, and a mobile kitchen service providing one free meal daily.
Continuing, it includes outreach to prisons, orphanages, IDP camps, and leprosy centers, as well as educational meal subsidies for schools and centers for people with disabilities. The project also encourages self-reliance through a home farming initiative that offers seeds, tools, and training, and through food processing training to empower beneficiaries with sustainable livelihood skills.
Since its establishment in December 2023, Temmy Helping Hands has already made significant strides in alleviating hunger and poverty. Past achievements include food distributions during World Food Day celebrations and financial support for widows.
Bakare also announced an upcoming initiative, “Make This December One to Remember,” which will provide assistance to 500 vulnerable individuals during the festive season.
She called for partnerships to expand the scope and reach of the Ibadan Food Bank, urging individuals, organizations, and corporations to support the initiative through food donations, financial contributions, and volunteering.
Highlighting various ways to collaborate, she appealed for sponsorship of families or meals, establishment of endowment funds, employee volunteer programs, and media campaigns to raise awareness.
According to Bakare, such contributions would not only transform lives but also demonstrate a strong commitment to corporate social responsibility and sustainable development.
She thanked the awardees for their dedication to humanitarian service, urging everyone to join in the fight against hunger.
“Together, we can ensure that no one in Ibadan goes to bed hungry. Every act of kindness matters,” the Founder added.
The keynote address at the occasion was delivered by Dr. Ibraheem Okunlola Akinwale, an Assistant Director at the National Orientation Agency (NOA), who spoke on strategies for coping with the economic hardship in the country.
Speaking on behalf of other beneficiaries, Princess Oyedele Bolatito, from Oyo State WAZOBIA Widows commanded Temmy Helping Hands and Youth Empowerment Foundation for the laudable initiative, urging others to emulate such kind gesture.
News
Two-Thirds of Nigerians Can’t Afford Healthy Meals — NBS
A recent survey by the National Bureau of Statistics (NBS) has highlighted the severe economic challenges faced by Nigerian households, revealing that two-thirds of the population struggle to afford healthy and nutritious meals. The survey, titled Nigeria General Household Survey – Panel (GHS-Panel) Wave 5 (2023/2024), underscores the worsening multidimensional poverty and the erosion of purchasing power due to the persistent rise in the cost of goods and services.
The report shows that approximately 63.8% of households have been forced to eat only a few kinds of food due to financial constraints. About 62.4% of respondents admitted worrying about food insufficiency, while 60.5% ate less than they thought they should. The situation has deteriorated significantly since the last survey, as the proportion of households expressing food insecurity concerns rose from 36.9% in the previous wave to 62.4% in the current one.
Power Outages and Access to Energy
The survey also sheds light on the nation’s energy crisis, revealing that Nigerian households experience an average of 6.7 power blackouts per week. While 82.2% of urban households have access to electricity, the figure drops to 40.4% in rural areas.
Cooking remains predominantly dependent on traditional methods, with 65% of households using three-stone stoves and 70.2% relying on firewood. However, the use of liquefied petroleum gas (LPG) is reportedly increasing.
Sanitation and Asset Ownership
In terms of sanitation, the report highlights that many households still lack basic toilet facilities, relying on bushes or streets for waste disposal. Access to clean drinking water is often through tube wells or boreholes, reflecting a lack of formal infrastructure in many areas.
On asset ownership, the survey indicates a decline since 2018/19. While two-thirds of households own mobile phones, only 21.3% have internet access. Housing ownership remains significant, with 70.4% of households owning their homes—80.1% in rural areas compared to 49.1% in urban centers.
The NBS report provides a stark reminder of the challenges many Nigerians face daily, from food insecurity and power outages to inadequate sanitation and declining asset ownership. It calls for urgent policy interventions to address these critical issues and improve the living standards of the population.
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