by Kikelomo Okereh

A strong sense of enthusiasm ran through the people of Kogi State as the Nigerian National Petroleum Corporation (NNPC) recently led a team of Chinese investors and engineers from the China State Engineering Construction Corporation (CSECC) to appraise the physical environment of the proposed location of the Kogi State Refinery and kick start preliminary project design activities.

The state was recently selected as one of the sites for the proposed three Green Field Refineries being planned by the NNPC in alliance with the CSECC.
The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC) Engr. Austen Oniwon said that, upon completion, the proposed Greenfield Refinery would be integrated with an industrial hydrocarbon park designed to convert natural gas and refined petroleum products into hydrocarbon derivatives.

Engr. Oniwon who was represented by Engr. Adebayo Ibirogba, Group General Manager, Greenfield Refineries of the NNPC, noted that the proposed Kogi Refinery would attract new industries to the state and with the dredging and maintenance of sufficient navigable drafts on the River Niger, the State would become investors haven.

The GMD however, called on the Kogi State Government to participate in the development of the project as a co-investor assuring that aside financial returns, the refinery would create job opportunities for up to 3,000 construction workers and an estimated 2,000 workers to run the industrial complex.

Moving swiftly, the Governor, Idris Ibrahim presented a Certificate of Occupancy for a 450 hectares stretch of land across the bank of the River Niger in Itobe village, Ofu Local Government Area of the state as a proposed site for the refinery.
He assured the joint delegation of NNPC and CSECC that the State Government was prepared to provide a conducive environment for the smooth operation of the refinery while assuring the security of lives and equipment.
The leader of the Chinese delegation and Vice President of CSECC International Division, Mr. Yu Zhende in his remarks stated that the Corporation was ready for the economic partnership which would generate employment opportunities and stimulate the economy of Kogi state.

Currently ranked the 6th largest Engineering and Construction Company in the world, the CSECC will not only assist in sourcing for funds on competitive terms for the project but is also expected to ensure that bona fide Chinese investors take up at least 25% of the equity holding in the project.

When completed the Kogi State Refinery is expected to produce about 300,000 metric tons of Liquefied Petroleum Gas per annum. The NNPC projects and the availability of such a volume of LPG will trigger a massive increase in the consumption of cooking gas as the preferred domestic household fuel, replacing firewood, charcoal and kerosene.

Uganda's central bank will intervene if necessary to ensure its markets remain stable after Somali Islamists detonated bombs in the capital Kampala, the bank's deputy governor said recently.

Louis Kasekende said it was likely some investors would be rattled by the twin blasts after Somalia's al Qaeda-inspired al Shabaab movement threatened more attacks if Uganda did not withdraw peacekeepers from the Horn of Africa nation.

He said the central bank would closely monitor day-to-day movements in prices, interest rates and exchange rates.
"I know definitely there will be some people who will be unnerved by this but they should trust us," he told Reuters.
"If need be we shall take measures to ensure stability in the forex market and in the domestic market," Kasekende said on the sidelines of a central bank conference in Kenya.

He said he expected east Africa's third largest economy to recover from a difficult 2009 and for growth to continue strengthening in 2011.

"We expect a recovery in growth in 2010 and definitely higher growth in 2011," he said.
Official forecasts predict the economy will expand by 6.4 per cent in the current financial year, which started this month, and at an average rate of seven per cent thereafter.

Stakeholders in the maritime industry have been called upon to support the bold moves by APM Terminals Apapa Limited to modernize operation at the Apapa Container Terminal of the Lagos Port Complex, Apapa.
This call was made recently by the Chairman Board of Trustees of the nation's umbrella body of all practicing freight forwarders, the National Association of Government Approved Freight Forwarders (NAGAFF), Mr. Usman Sanusi.
Sanusi made the call when he led other senior officials on a courtesy call to the Managing Director of APM Terminals Apapa, Mr. Martin Dirks.

Sanusi said that his association was impressed with the quantum of construction work being carried out at the terminal expressing believe that APMT was on track in changing the face of port operation in Nigeria.

Shortly after being conducted round the APMT facility by the Managing Director, Sanusi stated: “It is a very interesting visit. We have come to observe first-hand to see for ourselves. There are a lot of changes and a lot of development going on and I can now really say that it will be good for stakeholders and the media to come over to see the extent of development. Whatever problem that the terminal may be having right now is in the short term because surely in the long run all the issues will be surmounted. APMT has an ambitious programme to tackle the bottlenecks in port operation and there is also a deliberate attempt to forge a synergy between APMT and customs so that there will be a seamless flow of cargo in and out of Apapa port”.

While conducting his visitors round the terminal, Managing Director of APM Terminals Apapa Limited, Mr. Martin Dirks disclosed that the volume of containers coming into Nigeria has increased significantly compared to the low volumes recorded last year.

He said that the terminal handled 32,000 TEUs in June 2010.
“This is the highest volume so far for any month in 2010 and the highest June volume in three years”, Dirks stated.
He said that the issue of abandoned NPA scrap equipment which have been taking up space at the terminal since the inception of port concession has finally been resolved with the federal government.
Dirks disclosed that more modern cargo handling equipment have been ordered by his company to ensure effective handling of containers at the terminal and to be able to handle the new generation of vessels that will start visiting Nigeria later this year.

He said that the new customs building with 14 container examination bays was built with the aim of addressing recurring problems at the terminal.
The NAGAFF delegation was made up of the association's top executive members including its BOT Chairman, Mr. Usamn Sanusi, Legal Adviser, Barrister Fred Akokhia, National Vice President Western Zone, Sir Uche Nwabude, Deputy President of NAGAFF, Mr. Obun Anene and Chairman Apapa Chapter, Dr. Fred Ajuzie.