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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.
Ahead of the 2027 general elections, the national leadership of the All Progressives Congress (APC) on Tuesday held a high-level strategic meeting with the Oyo State chapter of the party as part of efforts to reposition the APC for victory and prevent internal crisis ahead of the polls.
The development was first scooped by OYOINSIGHT.COM which quoted multiple party sources familiar with the closed-door deliberations.
Sources disclosed that the meeting, held in Abuja, focused largely on a consensus arrangement being considered by stakeholders of the party in Oyo State, in line with political templates reportedly being adopted in Lagos and Ogun states ahead of the next electoral cycle.
Party insiders said the move was aimed at strengthening unity within the fold of the opposition party in the state, minimising rancour during the primaries and presenting a formidable front against rival parties in 2027.
It was further gathered that some members of the state executive committee may have been subtly informed about preferred consensus candidates being considered for elective positions across the state.
Though details of the deliberations were still sketchy as of press time, sources hinted that the national leadership stressed the need for cohesion, discipline and strategic alignment among stakeholders to improve the party’s electoral fortunes in Oyo.
Those at the meeting included the Oyo APC Chairman, Moses Alake Adeyemo; the state secretary, Fatai Adesina Adeniyi; the Publicity Secretary, Olawale Sadare; the Organising Secretary, Aderemi Adepoju; and the Legal Adviser, Sunday Aborisade.
Others were the Women Leader, Adekemi Opatunde; the Youth Leader, Olalekan Oladejo; Joshua Oyebamiji; Tunde Oloyede; Sunday Babalola; Joseph Omoniyi; and Mojeed Adebayo.
As of the time of filing this report, the party had yet to issue an official statement on the outcome of the meeting.
The Chairman of the All Progressives Congress (APC) in Oyo State, Chief Moses Alake Adeyemo, on Monday assured aspirants and party members that the party would conduct transparent, peaceful and credible direct primaries ahead of the 2027 general elections.
Adeyemo declared that no aspirant would be victimised or denied a level playing field, stressing that the party leadership remained committed to internal democracy and progressive ideals.
The former deputy governor spoke while receiving members of the APC Screening and Appeal Committees deployed from the party’s National Secretariat in Abuja at the APC Secretariat in Oke-Ado, Ibadan.
He disclosed that although the party initially explored consensus arrangements across elective positions, prevailing realities indicated that direct primaries would be conducted in some areas, including the governorship contest.
Adeyemo said the party had already put necessary structures in place to ensure a hitch-free exercise capable of strengthening unity within the APC.
He said: “We set machineries in motion for us to achieve the aim of consensus across board but reports available to me indicate that we would have to go by the second option which is direct primary in certain cases including the governorship ticket.
“To this end, we shall work towards organising free, fair and credible exercise in all the affected areas even as we cannot rule out the possibility of some aspirants having a rethink and supporting the consensus arrangement as necessary.
“Where we have more than an aspirant, Abuja would send people to conduct primaries and we at the state level would provide the required support to make everything work out in the interest of our great party.”
The APC chairman explained that all registered party members would participate fully in the exercise at their respective wards on dates to be announced by the National Secretariat.
According to him, affirmation would be adopted in areas where consensus candidates emerge, while voting would be conducted wherever direct primaries become necessary.
“For consensus, members will lend their voices for affirmation while voting will be done in the cases of direct primary,” he added.
Speaking earlier, Chairman of the Screening Committee and former Speaker of the Ondo State House of Assembly, Rt. Hon. Taofiq AbdusSalam, assured party faithful that the committee would carry out a thorough, transparent and unbiased screening process.
He said only eligible aspirants would be cleared to participate in the primaries and eventually fly the APC flag in the forthcoming elections.
Other members of the Screening Committee are Kamal Sanusi (Secretary), Smart Oluwole, Tunde Kolade and Olabamiji Agunloye.
Members of the Screening Appeal Committee are Jibola Oduwole (Chairman), Abimbola Jack (Secretary) and Jelil Jimoh.
The Nigeria Democratic Congress on Saturday zoned its 2027 presidential ticket to Southern Nigeria, declaring that the party’s candidate would serve a single four-year term if elected.
The decision was reached during the party’s national convention held in Abuja amid growing momentum within the opposition platform following a wave of high-profile defections from other political parties.
Announcing the development on its official social media handle, the party stated, “NDC presidential ticket is zoned to the South!!”
The party also resolved that its 2031 presidential ticket would be ceded to Northern Nigeria as part of efforts to maintain regional balance and internal equity.
The convention comes as key opposition figures, including former Labour Party presidential candidate, Peter Obi, and former New Nigeria People’s Party presidential candidate, Rabiu Kwankwaso, joined party leaders and delegates at the Abuja gathering.
Saturday’s convention is expected to ratify several recent decisions taken by the party’s National Executive Committee, including zoning arrangements, amendments to the party constitution, and the election of new national executives.
According to the convention agenda obtained by journalists, discussions centred on zoning, ratification of the amended constitution, and leadership restructuring ahead of the 2027 general elections.
The NDC has in recent weeks witnessed a surge in defections from rival opposition parties, particularly the African Democratic Congress and the Peoples Democratic Party.
On Tuesday, no fewer than 17 members of the House of Representatives defected from the ADC to the NDC.
Their defections were formally announced during plenary at the House of Representatives.
The lawmakers include Yusuf Datti, Uchenna Okonkwo, Adamu Wakili, Thaddeus Attah, George Ozodinobi, Lilian Orogbu, Oluwaseyi Sowunmi, Peter Aniekwe, Mukhtar Zakari, George Oluwande and Munachim Umezuruike.
Others are Emeka Idu, Jesse Onuakalusi, Ifeanyi Uzokwe, Afam Ogene, Murphy Omoruyi and Abdulhakeem Ado.
The defections came barely two days after Obi and Kwankwaso formally joined the NDC from the ADC.
The duo were presented with the party’s membership cards last Sunday shortly after a closed-door meeting with party leaders.
A former Governor of Bayelsa State and NDC national leader, Seriake Dickson, officially welcomed the opposition figures into the party.
Obi had attributed his exit from the ADC to worsening internal crises, external interference and what he described as increasing hostility within party structures.
The former Anambra State governor said Nigeria’s political environment had become increasingly toxic, marked by intimidation, insecurity and sustained scrutiny of opposition figures.
He also lamented that institutions meant to protect citizens were now often deployed against them, while individuals committed to genuine public service faced mounting pressure both publicly and privately.
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