BUA Group has emerged the loser as the Nigerian Ports Authority (NPA) waded into its sugar war with Dangote Industries Limited and Flour Mills of Nigeria Plc.
Indeed, the NPA has banned the importation of sugar from Free Trade Zones (FTZ), thus taking sides with Dangote Industries Limited and Flour Mills of Nigeria Plc in their sugar war against BUA Group over control of the refined sugar market.
The Chairman of Dangote Industries Limited, Aliko Dangote, and his counterpart at Flour Mills of Nigeria Plc, John Coumantaros, recently accused BUA of setting up a sugar refinery in an Export Processing Zone (EPZ) in Port Harcourt, Rivers State, thereby posing a threat to the attainment of the National Sugar Master Plan (NSMP) as well as the sustainability of the country’s local sugar industry.
According to the duo, the country has enough refining capacity to meet national demand and therefore does not need additional sugar refining capacity.
In a joint petition to the Minister of Industry, Trade and Investment, Niyi Adebayo, dated January 28, 2021, the duo protested against the recent commissioning of the BUA Sugar Refinery.
BUA, however, wrote a counter-petition, accusing Dangote and Coumantaros of calling to question the authority of President Muhammadu Buhari’s powers and the diligence of the Ministry of Industry, Trade and Investment.
But in a letter dated April 8, 2021, the NPA announced a ban on the importation of refined sugar and its derivatives from the country’s free trade zones (FTZs).
This in essence means BUA will not be able to sell its refined sugar from the Port Harcourt refinery in Nigeria.
NPA’s letter to terminal operators in Lagos and Port Harcourt on the matter reads: “It has recently come to our notice that due to the recent location of a sugar refinery in a free trade zone, refined sugar is being imported into the Nigerian Customs territory under the concession granted to enterprises in the free trade zones to export 100 per cent of their output to the Nigerian Customs territory, and this is a real potential threat to the goals of the Nigerian Sugar Master Plan (NSMP).
“The Nigeria sugar industry is governed by the Nigerian Sugar Master Plan (NSMP). The NSMP provides a framework for motivating investment in the local production of refined sugar by securing the Nigerian sugar market for investors in the backward integration program (BIP).
“Your terminal is hereby informed by this letter that, in order to protect our national interest and ensure the returns in the federal government’s investment in the NSMP are realised, and in line with extant laws and regulations of the federal government of Nigeria, the importation of refined sugar and all other sugar derivatives from the free trade zones into the Nigerian Customs territory is here prohibited by the honourable minister, ministry of industry, trade and investment.
“In view of the above, your terminals are by this letter directed to ensure strict compliance with this directive. Please accept as always the assurances of our esteemed regards.”
The letter was signed by Buba Jubril on behalf of the Port Manager, Lagos Ports Complex, Apapa.
BUA Chairman, Abdulsamad Rabiu, had earlier said that his sugar refinery did not contravene the Nigeria Export Processing Zones Authority (NEPZA) Act or the operations of the Export Processing Zone.
He said : “The same NEPZA Act upon which this project is based, gives the permission to process, add value, and export at the same time. Companies under this act are allowed to process and if they so wish, sell 100 per cent of their production in Nigeria with payment of duties based on the current raw materials tariff.
“As a matter of fact, Aliko Dangote of Dangote Industries, who is one of the complainants alleging and attacking this approval has also applied and obtained the same approval for his refinery project in Lekki, Lagos State where he is currently enjoying the same benefits of being in an Export Processing Zone (EPZ).
“What BUA Sugar is doing is legal and within the confines of the law. We have not done nor are we doing anything wrong.”
Rabiu further explained that the EPZ under which its Port Harcourt sugar project is sited went through a rigorous two-year review process before it was forwarded to the Ministry of Industry, Trade and Investment, for approval of President Muhammadu Buhari, adding that the president alone was constitutionally empowered to approve EPZ licences.
“Anything that is done to attack this project in any way, form or any guise, attacks Mr President’s approval and we will do everything to ensure our rights are not trampled upon,” he added.
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BREAKING: NNPC Sacks All Top Management Staff With Less Than 15 Months To Retire
As part of further reorganization for effective operations, the Nigerian National Petroleum Company Limited (NNPC) has sacked top management staff who have less than 15 months to retire from the national oil company.
The development is coming days after the oil company announced the removal and replacement of three of the its Executive Vice Presidents (EVPs).
Those impacted by the previous shakeup included Abdulkabir Ahmed, who was hitherto in charge of gas, power and new energies; Adokiye Tombomieye, who headed the upstream segment as well as Adeyemi Adetunji, who was in charge of the downstream.
They were replaced by Olalekan Ogunleye as EVP gas, power and new energies; Oritsemeyiwa Eyesan for the company’s upstream operations, while Adedapo Segun took charge of the downstream.
In a brief statement Tuesday morning, the NNPC stated that the new reshuffling was in line with its aspiration to rejuvenate its workforce.
“In our bid to pursue effective organisational renewal to support the delivery of our strategic business objectives, it has become imperative to rejuvenate our workforce.
“Consequently, in addition to the recent exit of three executive vice presidents, other members of management staff with less than 15 months to statutory retirement will be exiting the company effective 19th September 2023,” the statement said.
The NNPC noted that the move was in line with its commitment to scale up its capabilities through targeted talent management and equal opportunity for all Nigerians.
BREAKING: Tinubu Nominates Cardoso As CBN Governor
President Bola Tinubu has nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).
A press statement by presidential spokesman, Ajuri Ngelale, disclosed on Friday evening that Cardoso will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.
“This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.
“Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate,” he stated.
The new Deputy Governors include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
“In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all,” Ngelale stated.
We Help Nigerians Transform Their Dreams Of Studying Abroad Into Realities – Braimah
There is no gainsaying the fact that studying abroad opens doors to limitless opportunities. From getting a comprehensive and in-depth understanding of your desired choice of course – which positions you better than your peers – to the networking opportunities it provides, studying abroad can be the door to a better future.
On this premise, thousands of Nigerians dream of studying abroad and pursue that dream. Like every other dream for greatness, studying abroad is accompanied by several challenges including complex visa processes, financial constraints, and many more that often make some give up the dream or fail at it.
To help Nigerians, especially the youths, nurture their dreams of studying abroad, Redefined Consults Limited, a reputable educational consulting company with a team of dedicated and experienced travel professionals has helped many Nigerians process their applications seamlessly.
Having been in the global education competitive landscape for a while, Redefined Consults Limited understands the unique needs of its clients as well as the challenges that come with those needs, hence the need for a personalised approach to all applications they handle.
From choosing the right destination and university to advising on the courses that make application easy, up till the moment of obtaining a visa and settling into their new academic home, Redefined Consults makes it a core need to guide every client they have worked with through every step of the process.
The Founder and Team Lead, Redefined Consult Limited, Sheriff Braimah told our correspondent: “At Redefined Consults Limited, we recognise that education is not just about academics; it is also about personal growth and cultural enrichment. That is why we go beyond the conventional role of a consultancy firm. We are driven by a passion for excellence and a genuine desire to make a positive impact on the lives of individuals seeking quality education,”
He explained that the United Kingdom, Malta, Ireland, Canada, Australia, Malaysia, and China are some of the most sought-after travel destinations for Nigerians who desire to study abroad, and the educational consulting firm makes it a priority to research schools in these destinations, have a clear understanding of their requirements and provides the knowledge while helping them navigate the opportunities offered by each destination.
“With a core understanding of students’ recruitment, some of the services offered by our company include visa counseling and assistance to ensure a smooth and seamless process. Over the last three years, we have successfully helped more than 200 students achieve their dreams of studying abroad with the help of eight experts who are professionals and know their onions.
” If studying abroad is a dream you have had for a while but do not know how to pursue it or you have failed, Redefined Consult Limited is your hope to achieve that dream. With a proven track record of transforming study abroad dreams into reality, yours could be the next success story to tell,” Braimah added.