Category: Business

  • Rayfield Gardens City Estate Wins 2024 Gate Africa Estate Cup

    Rayfield Gardens City Estate Wins 2024 Gate Africa Estate Cup

    By David Ogar

    Rayfield Gardens City Estate emerged victorious as the best footballing community in the 2024 Gate Africa Estate Cup, defeating Olubadan Estate 2-0 in the Oyo State capital last weekend.

    The two-day tournament, featuring eight top estates in Ibadan, was organised by Gate Africa Technology, a platform that regulates access control, management, and payment processing for estates across Africa.

    Tournament Highlights

    In the third-place match, Goshen Estate secured a 3-1 win over Aerodrome Estate to claim the final spot on the podium.

    The tournament’s Most Valuable Player award went to Egbeleke Usman of Goshen Estate, while Jolayemi Michael was recognised as the Best Goalkeeper.

    Organisers Applaud Teams

    Gate Africa’s CEO, Tunde Buremo, commended the participating teams for their discipline and coordination throughout the competition.

    “This tournament has proven the value of teamwork, collaboration, and sportsmanship. At Gate Africa, we believe in fostering community growth, and this competition will become an annual event to further promote sports development at the estate level. We have also taken feedback from the estates and will include more sports in future editions,” Buremo stated.

    Lead Organiser of the Gate Africa Estate Cup, Adeniyi Lawal, emphasised Gate Africa’s role as the go-to solution for estate management needs, particularly in access management and payments in Oyo State.

    Local Impact

    Chairman of the Local Organising Committee and Director of 3SCFansTV, Idris Animashaun, expressed joy at the initiative’s success.

    “This initiative fosters local cooperation through sports while uplifting the sporting landscape in Ibadan. It is exciting to see the continuous improvement of sports in our city,” Animashaun said.

  • NNPC Reopens Port Harcourt Refinery, Begins Distribution of Petroleum Products

    NNPC Reopens Port Harcourt Refinery, Begins Distribution of Petroleum Products

    By Ben Nsemo

    The Nigerian National Petroleum Company (NNPC) Ltd. has officially recommenced operations at the Port Harcourt Refining Company (PHRC), marking a critical milestone in the nation’s drive towards energy independence.

    The re-streamed facility has started processing crude oil and distributing petroleum products to the market.

    On Tuesday, the refinery in Port Harcourt began the truck-out of products, including Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Household Kerosene (HHK), among others. The event was celebrated during a brief ceremony attended by key stakeholders.

    Speaking at the occasion, NNPC Ltd.’s Group CEO, Mele Kyari, described the commencement of product distribution as a “monumental achievement” for Nigeria. He said it represents a step forward in achieving economic growth and energy self-sufficiency.

    Kyari acknowledged the unwavering support of President Bola Ahmed Tinubu, whose administration, he noted, has been instrumental in driving the refinery’s rehabilitation project. He also expressed gratitude to the NNPC Ltd. Board, staff, and contractors for their dedication in overcoming challenges to deliver the project.

    “Today’s milestone is a testament to our commitment to restore the nation’s refineries to optimal capacity. We deeply appreciate Nigerians for their patience and look forward to completing work on the remaining refineries,” Kyari stated.

    The Chief Executive of the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, commended the achievement, assuring that his agency will continue supporting efforts to revive other refineries.

    The PHRC rehabilitation project carried out under an Engineering, Procurement, Construction, Installation & Commissioning (EPCIC) framework, has so far recorded over 16 million man-hours without any incidents of Lost Time Injury (LTI), underscoring the project’s emphasis on safety and efficiency.

    With the successful re-streaming of the Port Harcourt Refinery, the NNPC Ltd. takes a significant step towards ensuring stable petroleum product supply and reducing Nigeria’s reliance on imports. The company remains committed to restoring all its refineries to full functionality.

  • NNPC Ltd Highlights Progress on Port Harcourt Refinery Amid Clarifications

    NNPC Ltd Highlights Progress on Port Harcourt Refinery Amid Clarifications

    By Ben Nsemo

    The Nigerian National Petroleum Company Limited (NNPC Ltd) has addressed Nigerians, expressing gratitude for their support following the successful restart of the Old Port Harcourt Refinery, which had faced years of inactivity.

    In a statement by Olufemi Soneye, Chief Corporate Communications Officer, the company dismissed claims alleging that the refinery is not operational. It confirmed that the facility currently operates at 70% of its 60,000 barrels-per-day capacity, with output including:

    • Straight-Run Gasoline (Naphtha): Blended into 1.4 million litres of Premium Motor Spirit (petrol).
    • Kerosene: 900,000 litres daily.
    • Diesel (AGO): 1.5 million litres daily.
    • Low Pour Fuel Oil (LPFO): 2.1 million litres daily.
    • Liquefied Petroleum Gas (LPG): Additional volumes.

    The refinery’s gasoline production involves blending components sourced from Indorama Petrochemicals to meet required specifications—a standard industry practice.

    NNPC also announced significant progress on the new Port Harcourt Refinery, set to begin operations soon, while urging Nigerians to focus on the milestones achieved under President Bola Tinubu’s administration.

    The company stressed the need for collective support to strengthen Nigeria’s energy sector and counteract misinformation.