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Osinbajo inaugurates 1.5 billion USD fertilizer plant in Port Harcourt.
Published
9 years agoon
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Mega IconNigeria’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.
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Politics
APC Secretariat Violence: Oyo Lawmaker Denies Assault, Alleges Smear Campaign
Published
13 hours agoon
April 21, 2026By
Mega IconThe lawmaker representing Akinyele/Lagelu Federal Constituency of Oyo State, Olafisoye Akinmoyede, has denied allegations of violence at the All Progressives Congress (APC) state secretariat, describing claims that he assaulted a party member as false and politically motivated.
An online platform, IMPARTNEWSNETWORK, had alleged that Akinmoyede assaulted one Gafar Oyebade during a meeting convened by the state chairman of the party, Alake Adeyemo, to resolve issues surrounding the executive list of the APC in Lagelu Local Government Area.
However, Akinmoyede, in a statement on Tuesday, said the meeting was peaceful and attended by key members of the state executive, including the chairman, deputy chairman, and secretary, who witnessed the proceedings.
He clarified that contrary to Oyebade’s claim of being the party secretary, the official list presented by the state leadership recognised him as the Public Relations Officer.
According to the lawmaker, following the clarification, the state executive directed the Lagelu Local Government chairman, Fatai Awoyoola, to proceed with the swearing-in of other party officials.
Akinmoyede also faulted attempts to link the incident with the 2019 killing of a former federal lawmaker, noting that a court of competent jurisdiction had already ruled on the matter.
He said, “In Suit No. I/70c/2019, delivered by Justice Mufutau Adegbola on January 23, 2020, all those accused were discharged and acquitted.”
The lawmaker expressed concern over what he described as a deliberate attempt to mislead the public, alleging that Oyebade, a public school teacher under the Oyo State Government, should not be involved in partisan politics.
He described the allegation as a “recycled script” aimed at tarnishing his image ahead of political activities, urging constituents to remain calm.
Akinmoyede also called on journalists to verify information before publication and urged security agencies to take action against individuals who file false reports.
“These tactics surface every election cycle. Those behind them should learn to accept the outcomes of political processes. They failed before and will fail again. Power comes from God,” he added.
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Oyo Reps Member Denies Assault, Dares APC Chieftain to Prove ‘Hospitalisation’ Claim
Published
1 day agoon
April 20, 2026By
Mega IconThe lawmaker representing Akinyele/Lagelu Federal Constituency in the House of Representatives, Hon. Olafisoye Akinmoyede, has denied allegations of assault levelled against him by a member of the All Progressives Congress (APC) in Lagelu Local Government Area, Mr. Gafar Oyebade.
Akinmoyede described the allegation as “false” and “a lie taken too far,” insisting that no physical altercation occurred.
The denial was contained in a statement issued on Monday by his Legislative Aide, Dr. Isiaq Akintunde.
Oyebade had alleged that he was hospitalised following a confrontation during a meeting held at the office of the state party chairman in Oke-Ado, Ibadan, convened to resolve a leadership dispute in the local government.
But the federal lawmaker maintained that the meeting was peaceful and attended by top party officials.
“The meeting was convened to clarify Mr. Oyebade’s position within the local executive, and it was attended by the State Party Chairman, his deputy, the secretary, the publicity secretary, and other key state executives, all of whom witnessed the peaceful proceedings,” the statement read.
He added that contrary to Oyebade’s claim of being the party secretary, the official list presented by the Lagelu Local Government Party Chairman, Hon. Fatai Awoyoola, identified him as the Public Relations Officer.
According to Akinmoyede, the state executive thereafter directed Awoyoola to proceed with the swearing-in of the remaining members of the local government executive.
The lawmaker accused Oyebade of fabricating the allegation to advance political interests.
“I wonder why Mr. Gafar Oyebade, a secondary school teacher, would claim he was assaulted in the presence of the State Executive. This is an attempt to justify money allegedly collected from an aspirant to tarnish my image,” he said.
Akinmoyede further claimed that Oyebade was seen walking freely after the meeting and was not hospitalised as alleged.
He also raised concerns over Oyebade’s involvement in partisan politics, noting that civil servants are restricted from active participation in political activities.
The lawmaker called on security agencies and the media to investigate the incident at the party’s Oke-Ado office to ascertain the veracity of the claims.
Efforts to reach Oyebade for comments were unsuccessful as of the time of filing this report.
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2027: Oseni kicks off Oyo South Senate bid, rallies support for one million Tinubu votes
Published
1 day agoon
April 20, 2026By
Mega IconThe lawmaker representing Ibarapa East/Ido Federal Constituency and Chairman, House Committee on Federal Roads Maintenance Agency, Aderemi Oseni, has declared his intention to contest the Oyo South Senatorial seat in the 2027 general elections.
Oseni made his aspiration known during a high-level meeting with the Ibarapa APC Elders’ and Leaders’ Forum, comprising the G9 and the expanded G64 caucus, held at the party secretariat in Eruwa, Ibarapa East Local Government Area, over the weekend.
The G9 and G64 groups consist of influential stakeholders drawn from Ibarapa East, Ibarapa Central, and Ibarapa North local government areas.
In a statement issued on Monday by his media aide, Idowu Ayodele, and made available to journalists in Ibadan, the lawmaker expressed appreciation to the forum for their support and confidence in his leadership and vision.
He said his ambition to represent Oyo South Senatorial District was anchored on a determination to consolidate and expand his record of performance.
Oseni said, “This aspiration is not built on mere rhetoric, but on the continuity and expansion of a proven track record of quality representation and grassroots-oriented governance.”
While soliciting the support of party leaders, he described his ambition as a divine call to serve the people with renewed dedication.
According to him, “This is not a time for self-glory but a sacred responsibility to intensify efforts towards real development, bring more relief to our people and ensure inclusive governance.”
He pledged not to betray the trust reposed in him by party elders and faithful, stressing that his aspiration is rooted in progressive ideals and a genuine commitment to the development of the district.
Oseni also urged leaders in the zone to mobilise support towards delivering one million votes for President Bola Tinubu in the forthcoming election.
Speaking at the meeting, a leader from Ibarapa East, Chief Michael Morawo, lauded the lawmaker for delivering democratic dividends and strengthening the party structure. He added that Oseni has demonstrated commendable leadership through his performance, noting that his impact in stabilising the party within the constituency is evident.
Similarly, a former council chairman in Ibarapa Central, Chief Theophilus Adenrele, commended the lawmaker for not betraying the trust reposed in him. Also, a chieftain from Ibarapa North, Chief Francis Babalola, described Oseni as a humble leader committed to progressive ideals, dismissing speculations about his possible defection if he does not secure the governorship ticket.
In his remarks, the Chairman of the forum, Chief Timothy Jolaoso, said the lawmaker enjoys widespread grassroots acceptance that cuts across political divides.
Jolaoso said, “All indicators consistently point to Oseni as a candidate with acceptance that transcends party lines. He is not only capable but a man of deep faith with proven empathy for the downtrodden.”
He added, “He possesses the goodwill, financial strength, and public trust required for leadership.”
The elder statesman further noted that Oseni’s performance in the House of Representatives, alongside his role as Chairman of the FERMA Committee, underscores his competence and commitment to development.
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