$500m Ondo modular refinery spurs high hopes

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The need to have more refineries in Nigeria has been a front-burner issue not just to the Federal Government but private investors in the country’s oil and gas industry.

Nigeria currently has four refineries, which are located in Port Harcourt, Kaduna and Warri, with a combined installed capacity of 445,000 barrels per day but the refineries have continued to operate far below the installed capacity for many years.

The country relies heavily on importation to meets its fuel needs.

The need for modular refineries, particularly in the Niger Delta area of the country, has never been so urgent and the government has been encouraging investors to look at this direction.

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In view of this, the Ondo State government has partnered with Crown Refinery and Petrochemical Limited to build a modular refinery in the coastal area of the state.

The state, in partnership with the firm, has agreed to establish the modular refinery and unlock job opportunities for residents.

It was gathered that the state would provide only the land while the company will provide the equipment and the personnel, some of whom would be employed from the state.

To set the ball rolling, the state and the company recently signed a Memorandum of Understanding on the multimillion-dollar project proposed to be sited in Ugbonla and Ogboti coastal towns in the Ilaje Local Government Area of the state.

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It was learnt that the project would foster the development of the area and consequently boost the economy of the state, as it was projected to employ over 2,000 people, both directly and indirectly.

The state Governor, Arakunrin Oluwarotimi Akeredolu, SAN, while receiving the MoU from the Secretary to the State Government, Mr Sunday Abegunde, who had earlier signed the document with the representatives of the company, expressed delight over the development.

Considering the number of benefits both partners would get from the project, Akeredolu pledged to give the necessary support to the project.

According to him, the door of the state is open to all genuine investors to do business with it, and his administration is committed to making the state a business hub for investors.

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He said, “Ondo State is safe for investors; we will do everything to ensure that this project is successful. Ondo State is strategically positioned among the Niger Delta States and Lagos State, which is the nation’s economic nerve centre, to make all business-minded investors reap bountifully from their investments in the state.”

Earlier, the Chief Executive Officer, Crown Refinery and Petrochemical, who led the team to the governor’s office, Mr Kassim Adeleke, said the company had approached some states for the establishment of the project but was not welcomed.

According to him, the company’s core business is to refine crude oil into petroleum products.

He explained that the refinery would be designed to process both imported paraffin and Nigerian crude into petroleum products, oils and lubricants.

Adeleke said, “The proposed initial design capacity of the plant is about 30,000 barrels per stream day, which is expected to be completed within 36 months. This can be scaled to 60,000 bpsd.

“We are going into the business of refining crude oil. The government of Ondo State would provide the enabling environment and incentives to support us as we actualise this vital investment.

“Apart from the project having the capacity to refine crude oil, it will also be producing 120,000 tonnes of base oil and 25,000 tonnes of lubrication oil on a yearly basis.

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“The company will also be providing several infrastructural projects in the states and would create about 2,000 direct and indirect employment opportunities for indigenes of the state. It would also give scholarship to indigent students in the host communities.”

He said in Ondo State, he found professionalism, swift decision making, friendly communities and passion, such that in less than one year of opening talks with the state government, the company was set to commence the project.

Giving more details to journalists about the project, Adeleke said $500m would be spent at the initial stage, saying the money would be sourced from the development partners of the company.

He also allayed the fear of the negative environmental effects of the project, saying every necessary factor had been taken care of.

“We are still going through the due diligence process and the final figures will be made public when that is completed. The initial cost of the project is $500m, bearing in mind ancillary projects, like power and other infrastructure developments,” he added.

Apart from the government partnering the company, there was an indication that the residents of the communities would welcome the development as there was no opposition to it from any quarter.

Some of the residents of the communities even volunteered to accompany the representatives of the company to the sites where the projects would be sited.

A local chief in one of the communities, who did not want his name in print, expressed the support of the residents to the project. But he urged the management of the company to consider the indigenes of the area for employment for the project.

“We will be happy if this project is finally sited in our community; it will bring development to our community. We want to appeal to the management of the company to consider our children for employment whenever the work begins,” he urged.

The Chief Press Secretary to the Governor, Mr Segun  Ajiboye, said the project was part of the commitment of the government in promoting economic development in the state.

He said, “It was part of our investment drive to provide employment and boost the internally generated revenue of the state; it is going to be a laudable project.”

A financial analyst, Mr Kunle Akinloye, commended the government and the company for initiating the partnership.

He said the project would largely benefit the state in the area of IGR and employment generation.

“Modular refinery is a very big project; if well implemented, the government would rake in money in terms of IGR while a lot of people would be employed and make a living from it,” he added.

Another public affairs commentator, Mr Oluwaseun Ojo, who described the project as laudable, urged the government to put into consideration the environmental impact of the project on the host communities.

He said, “We have to commend the state government for allowing this kind of project to come up in this state. However, the government and the company must prevent environmental hazards, which the refinery may cause to the health of residents of the host communities.

“The government must not look only at the benefits of the project but the environmental impact must also be considered too.”

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$500m Ondo modular refinery spurs high hopes - Brand Spur

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation...

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


$500m Ondo modular refinery spurs high hopes - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


$500m Ondo modular refinery spurs high hopes - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

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Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

$500m Ondo modular refinery spurs high hopes - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

$500m Ondo modular refinery spurs high hopes - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation Study 2021

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


$500m Ondo modular refinery spurs high hopes - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


$500m Ondo modular refinery spurs high hopes - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

$500m Ondo modular refinery spurs high hopes - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

$500m Ondo modular refinery spurs high hopes - Brand Spur
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