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DR. ABBAS WAZIRI CHAMPIONS BAUCHI’S ECONOMIC TRANSFORMATION THROUGH $1.5bn CEMENT PROJECT BY CHINEDU NSOFOR

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DR. ABBAS WAZIRI CHAMPIONS BAUCHI’S ECONOMIC TRANSFORMATION THROUGH $1.5bn CEMENT PROJECT

BY
CHINEDU NSOFOR

 

In an era when Nigeria’s industrial potential is gaining attention on the global stage, Dr. Abbas Waziri stands out as a trailblazer in the nation’s march towards economic self-sufficiency. As a serial entrepreneur and versatile investor, his visionary leadership has not only transformed the business landscape but is now set to reshape the entire economic trajectory of Bauchi State through his latest venture—Resident Cement Company Limited.

 

 

 

On August 7, 2024, at 7:46 PM, Dr. Waziri’s conglomerate took a monumental step towards cementing Bauchi’s future as an industrial powerhouse. Resident Cement Company Limited signed a historic $1.5 billion Memorandum of Understanding (MoU) with the Bauchi State Government to establish a cement production plant in the Gwana District of Alkaleri Local Government Area. This agreement marks the birth of an industrial revolution that promises to not only spur growth in the cement industry but also provide life-changing benefits to the people of Bauchi.

 

 

 

The scale of the project is unprecedented. Once operational, the plant will produce 10 million tonnes of cement annually, beginning with a 3 million tonne capacity in just two and a half years. But beyond the sheer volume of production, Dr. Waziri’s vision extends further. The development also includes the construction of a 100-megawatt zero-carbon emission coal power plant, a dam to provide necessary resources, and essential infrastructure like truck parking spaces. The venture is not just a business initiative but a multifaceted effort to support the host community with social amenities and power supply, heralding a new chapter in sustainable industrialization.

 

 

 

Bauchi State Governor, Sen. Bala Mohammed, who witnessed the signing, lauded Dr. Waziri’s commitment and affirmed his administration’s dedication to ensuring the smooth execution of the project. “Bauchi is open for business, and we are committed to creating an investor-friendly environment that will foster economic growth,” the governor stated. He highlighted the importance of collaboration between the state government, the federal government, and private investors like Dr. Waziri to unlock the state’s vast potential.

 

 

Governor Mohammed’s administration has shown unwavering support for investors, especially those, like Dr. Waziri, who bring significant value to the state’s economy. The governor reassured the public of his efforts to remove administrative bottlenecks and ensure security for investments, further cementing Bauchi as a rising star in Nigeria’s economic landscape.

The MoU was signed in the presence of key government officials, including the State Commissioner for Natural Resources, Mohammed Maiwada Bello, and the Attorney General and Commissioner for Justice, Hassan El-Yakub SAN, who both hailed the initiative as a significant development for Bauchi State.

For Dr. Waziri, this is more than a business venture. It is a chance to fulfill his lifelong dream of creating opportunities for Nigerians, particularly the youth. He expressed deep gratitude to Governor Mohammed for his support and foresight in recognizing the importance of the cement factory to the region’s development. Dr. Waziri also reaffirmed his belief in the state’s vast untapped potential, pledging to work tirelessly to ensure that the project delivers on its promises of economic prosperity and job creation.

This project, the first of its kind in Bauchi, signals the beginning of an industrial renaissance that will uplift the state’s economy, create thousands of jobs, and provide lasting benefits for the local population. With Dr. Waziri at the helm, Resident Cement Company Limited is set to become a cornerstone of Bauchi’s future, contributing not just to Nigeria’s cement industry but also to the nation’s drive towards sustainability and innovation.

As a leader known for his tenacity, business acumen, and dedication to Nigeria’s economic advancement, Dr. Abbas Waziri exemplifies the kind of forward-thinking entrepreneurship that the nation needs. His investment in Bauchi State is more than a business transaction; it is a commitment to transforming lives, empowering communities, and paving the way for a brighter, more prosperous future for all.

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WHY IS PETROLEUM A PROBLEM IN NIGERIA

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NNPC cautions motorists, others against panic buying

WHY IS PETROLEUM A PROBLEM IN NIGERIA

By Dickson Omobola

 

The jigsaw puzzle surrounding the quantity of petrol, otherwise called Premium Motor Spirit (PMS), Nigeria consumes daily just got more puzzling as Sunday Vanguard understands that the figure went down to about 30 million liters per day after President Bola Tinubu’s ”subsidy is gone” statement of May 29, 2023 only to dramatically return to more than 60 million liters.

Multiple sources attributed the ‘magical’ rise to renewed smuggling of the product into neighboring countries where the price of the product is significantly higher than it is in Nigeria.

Until Tinubu ‘removed’ petrol subsidy via the 2023 Inauguration Day speech, the product sold for N254 but rose subsequently to N617 in Abuja and thereabouts in some parts of the country.

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In Lagos where it was cheapest, it sold for about N568 while it sold higher in other South-West states like Ogun, Oyo, Ondo, Osun and Ekiti.

In the North, South-South and South-East, it was a different ballgame as the price of petrol skyrocketed above N615 while independent marketers sold above N800.

The quantity of petrol consumed daily in Nigeria has for a long time been a controversial issue with many stakeholders saying it was shrouded in secrecy especially since the quantity determined the amount to be paid as subsidy which many people including government officials benefited from.

According to the Nigerian National Petroleum Corporation Limited (NNPCL), in the first three months of 2022, Nigeria recorded an average daily consumption of 64.14 million liters, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed in September 2022 that Nigeria’s average daily petrol consumption was 66.8 million liters.

However, at the beginning of 2023, the Group Chief Executive Officer of the NNPC Limited, Mele Kyari, said there was no credible data to ascertain the daily consumption of petrol in Nigeria while also stating that there was credible data on the actual volume of petrol evacuated from the depots.

Analysts believe the figures quoted are often that high because the bulk of the petrol earmarked for the local market is usually taken by smugglers across the borders, especially to neighboring countries, where the price of the product is very high because they don’t produce oil.

The smuggling of the product across the borders guarantees huge profits for those involved while subsidy also guarantees huge returns for marketers and government officials among others in the system.
But following the Inauguration Day pronouncement of Tinubu (subsidy is gone), daily consumption of petrol in Nigeria, according to sector regulator fell significantly.

Analysis of daily truck-out data published by the NMDPRA revealed that petrol consumption had reduced by more than 24 million liters per day on average.

The average daily consumption in May 2023 was 69.54 million liters which fell to 49.48 million liters in June, representing a 28.3% drop.

In July, this margin increased further to 34.61%, the equivalent of 24.06 million liters, and average daily consumption for the month fell further to 45.74 million liters.

The price of petrol in neighboring Benin Republic and Cameroon immediately soared, confirming the claim that both countries, among others, were befitting from the Nigerian subsidy regime.

Outside beneficiaries
Part of the reason adduced by the Nigerian government to cancel the subsidy regime is the fact that apart from the cabal using the regime to rip off government, nationals of neighboring were also beneficiaries.

But critics say the fact that government cannot police its borders in such a way that smuggling of petrol across the borders is stopped does not justify ending the subsidy regime that helps poor Nigerians to modulate the prices of other items that they need petrol to carry out.

Nigeria’s land borders are huge, covering an

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Popular Businessman decries media bullying over property in Ogun

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Popular Businessman decries media bullying over property in Ogun

An Ogun State -based real estate practitioner, Mathew Elisha has condemned what he described as media bullying in an attempt by a man to forcefully take over his land in the Ologede community in Atan area of Ado- Odo / Ota Local Government .

The business man stated this ,while reacting to a viral video on the internet ,where he was accused of forcefully taking over a community land ,which was dedicated for the construction of a primary school .

One of the residents , Olalekan Abatan accused Mathew of erecting a structure on the land ,where the community was planning to build a primary school

The real estate practitioner described the accusation against him as untrue and malicious ,adding that it was aimed at inciting the public against him.

 

He clarified that ” To begin with ,the land they are talking about is not in Igbele Ajana .It is in Ologede .It will be wrong for them to say that the land was given to them by the Ogedengbe family . ”

He also stated that ” I am very disappointed in the said Abatan. Already he had instituted a case at the Customary Court. Why is he resorting to media blackmail again .

He had initially reported to the police and after thorough investigation by the Divisional Crime Officer in charge of the station .He abandoned the matter at the police station and ran to the court .Now he has resorted to media blackmail .”

Mathew explained that ” I bought the land a long time ago from the Solabi Family . I started construction and I had three courses already on the land .
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The land became a subject of litigation between the Solabi Family and the Asalu family . The Asalu Family won at the high court and I stayed away from the land .

The Solabi Family approached the Appeal Court and the matter was decided in their favour The family also won at the Supreme Court . I returned to my land .Nothing had been built on it. I am surprised that they are claiming that the land was donated for primary school .

Abatan even confirmed to the police that there was already a construction on the land ,when it was donated to them. He added that the Ogedengbe family claimed to have erected the building on the land .”

The businessman noted that ” What they are saying is not only untrue but a malicious attempt by the said Abatan to incite members of the public against me .

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BREAKING! Opay Begins Charging Of N50 Electronic Transaction Fee

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BREAKING! Opay Begins Charging Of N50 Electronic Transaction Fee

 

 

 

 

OPay is set to apply a transfer fee of N50 for transactions exceeding N10,000.

 

 

BREAKING! Opay Begins Charging Of N50 Electronic Transaction Fee

 

 

OPay has introduced a new fee for electronic transfers into both personal and business accounts, in accordance with the regulations set forth by the Federal Inland Revenue Service.

 

 

 

Beginning September 9, 2024, there will be a one-time charge of N50 for transfers of N10,000 or more.

 

 

On Saturday, OPay communicated to its valued customers:

 

“Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations.”

 

 

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