Category: Blog

Construction Work Begins at $450m Tomaro Industrial Park

Construction work has finally commenced on Tomaro Industrial Park, which was pronounced a Free Trade Zone (FTZ) by the Federal Government in line with its effort to industrialise the nation’s economy through building of industrial clusters across the country. During the site tour with journalists yesterday in Lagos, the Chairman/Chief Executive Officer, Integrated Oil and […]

Foreign Investors Eye $450m Tomaro Industrial Park

Foreign investors from China and Europe have indicated interest in the $450 million Tomaro Industrial Park, which would generate about 2,000 direct employment for Nigerians. Meanwhile foundation work for the project has commenced with the piling work for the platform that will hold the project’s storage tanks. Chairman of Eko Refinery and Petrochemical, the promoters […]

Grant Signing Ceremony Between USTDA and Eko Petrochem and Refining Company Limited/Official Presentation of Tomaro Industrial Park

1. From left: United States of America Ambassador to Nigeria, Mr. W. Stuart Symington; Acting Director, US Trade and Development Agency (USTDA), Mr. Thomas Hardy, Chairman, Integrated Oil and Gas Limited, Capt Emanuel Ihenacho, Managing Director, Integrated Oil and Gas, Mr. Tony Ihenacho and the Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Hon. Emmanuel […]

Commercial Prospects for Modular and Full Scale Refineries

As a result, OTL Africa prioritized the topic for discussion at the 10th Africa Downstream Week especially as refining capacity in the continent is grossly inadequate. The session was sponsored by Integrated Oil and Gas Limited, while the company’s Chairman, Captain Emmanuel Ihenacho presided over the panel of discussants made up of Dr. George Nicolaides, […]

Fuel Subsidy Removal Necessary – LCCI DG

The Director-General of the Lagos Chamber of Commerce and Industry, Mr. Muda Yusuf, has backed the “inevitable” decision of the Federal Government to liberalise the petroleum downstream sector. “In an economy with huge deficit in economic and social infrastructures, it (subsidy) was simply scandalous.  It is in the overall interest of the economy and citizens […]

IPMAN Commends FG on New Price of Petrol

The Vice President, Independent Marketers Association of Nigeria, Alhaji Abubakar Maigandi, has commended the Federal Government on the new pump price of petrol. Maigandi told the News Agency of Nigeria on Wednesday in Abuja that the decision would help to put to an end the persistent petrol scarcity in the country. “This is a good […]

Labour Kicks as FG Raises Petrol Price to N145

Following months of uncertainty in which Nigerians endured debilitating shortage of petrol, the Federal Government on Wednesday finally ended the subsidy regime on the product and approved an increase in the pump price. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed this to State House correspondents at the Presidential Villa, Abuja. Kachikwu […]

BREAKING NEWS: FG Removes Subsidy

The Federal Government on Wednesday officially ended the subsidy regime on premium motor spirit, popularly known as petrol, and will allow market forces determine the cost of the product. This was reached during an extensive meeting held at the headquarters of the Nigerian National Petroleum Corporation in Abuja. Officials, who attended the meeting, said the […]

NLC Vows to Resist Fuel Increase

The Nigeria Labor Congress, NLC, has vowed to resist the increment in petroleum product announced today by the Federal government. Minister of state for Petroleum Resources, Ibe Kachikwu, announced that the Federal Government was removing oil subsidy and put the new figure for petrol price at about N145 liter. The statement from NLC which was […]

FG Increases Fuel Pump Price

The Federal Government has approved an increase in the pump price of petrol as part of efforts aimed at ending fuel queues across the country. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed this on Wednesday while briefing State House correspondents at the Presidential Villa, Abuja. He said while the Petroleum Products […]