Wema Bank, Ogun, others seal funding pact on new refinery

Wema Bank and three other companies Petrolex Oil and Gas, Hyundai and Ajayi Legal Partner have signed a deal with the Ogun State Government to build the second largest refinery in sub-Saharan Africa and the largest petroleum product depot in Nigeria.

The Chairman, Petrolex Group, Mr. Segun Adebutu, while speaking at the signing ceremony, said the two projects which will be located in Odogbolu Local Government Area of the state, when completed would generate at least 2000 jobs and greatly increase the socioeconomic condition of the host state.

Commenting on the project, Head of Corporate Banking, Wema Bank, Henry Alakhume, expressed delight at the deal.

According to him, the Bank is proud to support Petrolex Group in the refinery and petroleum depot project, adding that the project will significantly boost Nigeria’s economy and create much needed jobs.

Ogun State Governor, Ibikunle Amosun, assured Wema Bank and members of the consortium of his administration’s commitment to fully support the project.

“We have the political will and we would support the project fully. You can be rest assured that I will get involved, when necessary, in order to ensure that the project is a success,” Amosun said.

Comments

Omagbemi frees Angels, Queens for Fed Cup final

Super Falcons’ Head Coach, Florence Omagbemi, has elected to release players of Rivers Angels and Bayelsa Queens in the Senior Women National Team camp for Sunday’s potentially explosive women Federation Cup final between both teams in Lagos. Omagbemi The member of FIFA Technical Study said the ladies would be allowed to leave the team’s camp in Abuja to travel to Lagos for the big clash, which starts at 1pm at the Teslim Balogun Stadium on Sunday. That decision has freed Angels’ half dozen of goalkeeper Ibubeleye Whyte, defenders Osinachi Ohale, Ugo Njoku and Gladys Akpa and midfielders Chioma Wogu and Glory Iroka to be part of the glamour event, to be attended by the Governors of Lagos, Anambra, Nasarawa, Bayelsa and Rivers States. Bayelsa Queens’ duo of goalkeeper Alaba Jonathan and playmaker Osarenoma Igbinovia will also be on duty. The involvement of the Super Falcons’ stars will certainly boost the quality of the final match, and ensure the two teams do not miss their Falco...

Supreme Court doesn’t need 21 justices – CJN

The acting Chief Justice of Nigeria, Justice Walter Onnoghen, has said appointing more judges or increasing the number of courtrooms are not the solutions to the problem of delayed justice dispensation in the country. The acting CJN said the Court of Appeal and the Supreme Court would remain congested so long as the number of appeals proceeding there from the high courts was not regulated. Justice Onnoghen also argued that it was erroneous to believe that delay at the Supreme Court was as a result of not having up to 21 Justices prescribed by the constitution. He noted hat even the United States of America, with a higher population, had only nine Supreme Court Justices. He argued that the current 17 Justices on the Supreme Court bench were just enough for the country, if the number of appeals proceeding to the appellate and apex courts was regulated. Justice Onnoghen made this argument on Monday in Lagos while inaugurating the newly refurbished building of the Lagos Division o...

Trump ex-aide Paul Manafort 'offered to help Putin'

US President Donald Trump's one-time campaign chairman secretly worked for a Russian billionaire to assist President Vladimir Putin, the Associated Press (AP) news agency reports. Paul Manafort is said to have proposed a strategy to nullify anti-Russian opposition across former Soviet republics a decade ago. AP says documents and interviews support its claims about Mr Manafort. Mr Manafort has insisted that he never worked for Russian interests. He worked as Mr Trump's unpaid campaign chairman from March until August last year, including the period during which the flamboyant New York billionaire clinched the Republican nomination. He resigned after AP revealed that he had co-ordinated a secret Washington lobbying operation on behalf of Ukraine's ruling pro-Russian political party until 2014. Newly obtained business records link Mr Manafort more directly to Mr Putin's interests in the region, AP says. Donald Trump unpaid Campaign Chairman It ...

Welcome to EagleWatch

Search This Blog