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NNPC: Peace at last? Kachikwu meets Baru, discuss opportunities in petroleum industry

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The Minister of State for Petroleum Resources, Dr Ibe Kachikwu and Group Managing Director of NNPC, Mr Maikanti Baru, met on Tuesday and discussed opportunities to further develop the nation’s oil and gas sector, The Guardian reports.

They met in Abuja at the ongoing Nigerian Economic Summit at the Energy Policy Committee session.

The News Agency of Nigeria (NAN) reports that the duo had been involved in controversies over alleged misapplication of funds at the NNPC, leading to the intervention of President Buhari.

Baru, who led a session, came‎ first at the venue of the programme, while Kachikwu walked in some few minutes later.

As soon as the Minister of State entered, Baru stood up, approached him and exchanged pleasantries with him.

According to The Guardian, Kachikwu also suggested that he be represented at the second session of the dialogue by Baru, a request the organisers declined because Baru was to chair a session as it would affect his participation.

Kachikwu left while the breakout held and did not return until the end of the closing session.

Baru stood in for him as the Chairman of the session, and when he returned, he joined as the co-chairman.

At the end of the programme, they both exchanged pleasantries further, took some photographs, chatted and walked out of the hall together.

On the opportunities in the Nigerian oil and gas industry, Kachikwu said the industry had enormous potentials evolving on a daily basis.

He, however, said that the operating environment was tough, adding that the Federal Government was looking at areas it could provide incentives to boost returns for investors, to attract more investors into the industry.

He said that the Federal Government was putting in place modalities to increase the scope of its earnings in the industry.

He said that the environment was improving, adding that companies that had suspended their big projects were beginning to look at the potentials of reviving them.

Kachikwu further stated that the Federal Government was currently conducting a study to determine reasons why only nine marginal oil fields awarded were involved in production out of the 24 awarded over a decade ago.

He said that the essence of the investigation was to determine factors preventing the oil fields from producing.

This, he said, was designed also advance the Nigerian oil industry forward.

He said, “Financing is key. We are still yet to develop a model that enables local players to access financing very easily.

“And in an environment where we do not have a lot of reserves, it would be very tough.

“We are going to be looking at all kinds of guarantee platforms, whether there is money to be set aside over a shorter time period with lower interest rates, whether they are international communities that are ready to invest on basis of guaranteed returns of certain barrels.

“We are going to see how we would work to come up with a model that would help people. And that is going to come after we do a study.

“We are doing a study right now to find out why the 24 minus nine marginal fields are not producing oil, did not get to development. Let us be sure it is only financing. If it is more of technical skills, then I think we have got to address that differently.

“If it is more of financing, community development, or quarrels among shareholders, which is a major problem with these teams.

”A lot of funny bedfellows come together and once they finish, they spend the whole time quarrelling in court and nothing happens. We are going to look at all those.

Kachikwu assured that the forthcoming marginal oil field bid rounds would be transparent and would ensure that oil producing communities not just participated in the process, but also got the most advantage from the oil fields.

“Even when you do transparency, you have to have some level of inclusive or inclusion. How do you get some of these communities to participate.“

He further disclosed that the Ministry of Petroleum was developing models that would enable the President to choose what he wanted to do and how he wanted to go about the marginal fields’ bid round.

“The key issue is that it must be transparent so that people could see before they go in, what is expected, how the government wants to run this and hopefully win on the basis of very well-defined goals.”

Kachikwu also called for a whittling down of the powers of the Minister of Petroleum Resources, in favour of a stronger industry regulator.

“One thing I can say for sure is that whatever models of the Petroleum Industry Bill we are pushing, we need to begin to see an independent regulator with fairly enormous powers and with less of a political interface so that the individuals can do their work.

“I am all for whittling down substantially, the powers of the minister so that these institutions can work well.

”The reality is that no one stays as a minister forever. It is something we are working on with the National Assembly.

“We are still working to make the independence stronger,” he added.

Baru listed the opportunities in the forthcoming marginal oil fields bid round, adding that a successful completion of the process would present a veritable opportunity for Nigeria to grow it is crude oil output and create employment. The Guardian NG

Catalonia: Spanish government demands Catalan leader clarify whether independence has been declared

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Reuters     Spanish Prime Minister Mariano Rajoy on Wednesday demanded that the Catalan regional government clarify whether it has formally declared independence before Madrid takes any steps to take over control of the autonomous region.

The Spanish cabinet is to decide its response to Catalan moves to declare independence, but the prospect of dialogue to ease Spain’s worst political crisis in four decades already seemed isolated.

The fraught situation became more confused on Tuesday when Catalan leader Carles Puigdemont made a symbolic declaration of independence from Spain and instantly suspended it to allow for talks with the Madrid government.

Such a declaration had been widely expected after the Catalan government said that 90 per cent of Catalans voted for a breakaway in an Oct. 1 referendum that Spain had declared illegal and most opponents of independence boycotted.

However, Spain responded angrily to Puigdemont’s speech, saying that the Catalan government could not act on the results of the referendum.

“Neither Puigdemont nor anyone else can claim, without returning to legality and democracy, to impose mediation.

“Dialogue between democrats takes place within the law,” Deputy Prime Minister Soraya de-Santamaria said.

Prime Minister Mariano Rajoy spoke to other political parties to seek the greatest possible support for the government’s response.

Puigdemont’s speech also disappointed supporters of independence, thousands of whom watched proceedings on giant screens outside parliament before sadly leaving for home.

Financial markets, however, were encouraged that an immediate declaration of independence had been avoided.

Although Puigdemont’s climb-down appeared to lessen the immediate risk of a head-on confrontation between the Catalan and Madrid governments, Spanish media said it was still possible that Rajoy could take strong measures.

This includes possibly suspending Catalonia’s autonomy and forcing new regional elections.

The Catalan government said if Madrid invoked this option, using Article 155 of the Spanish constitution, it would press ahead with independence.

“If the government implements 155, it means there is no willingness for dialogue and so obviously we would have to be consistent with our commitment to the people of Catalonia.

“We have given up absolutely nothing.

“We have taken a time out which doesn’t mean a step backwards, or a renunciation or anything like that,” Catalan government spokesman Jordi Turull said.

Kogi workers strike Continues, Adeniyi calls for dialogue

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The six-week-old strike has crippled the state economy

Civil servants in Kogi state are still reacting to irregular payments of their entitlements and the governor who was said to have turned deaf ears to their plights while spending fortunes on his new manor is now running from pillar to post in order to drag the aggrieved workers back to their respective duty posts.

It was reported that Governor Yahaya Bello, was alleged to be unperturbed with the state civil servants plights as he was said to be busy putting finishing touches to the manor of his dream.

“It is however not surprising as the civil servants in Kogi State cannot keep up with the pains anymore while the governor looks unconcern.”

Reports has it that a former Director in Kogi Ministry of Works, Mr Emmanuel Adeniyi has called for dialogue between the state government and workers, to end ongoing strike by civil servants.

Adeniyi, who spoke in an interview with the News Agency of Nigeria (NAN) in Lokoja on Wednesday, said it was important for the state government to start a process of dialogue to end the six-weeks-old strike.

According to him, the strike has crippled economic and other activities in the state, stressing that both parties must dialogue so as to resolve all contending issues.

http://www.newsheadline247.com/2017/08/19/kogi-governor-bello-builds-multi-million-naira-mansion-amidst-cries-irregular-salary-payments/

He said that activities of the state government should not be allowed to remain paralysed for long, because of its long term effect on the economy.

Adeniyi also appealed to the labour union to appreciate the predicament of government, so as to arrive at an amicable solution.

The former director said there was no reason why workers should be on strike and urged governments in the country to always give priority to workers salaries, allowances and welfare.     Additional reports from NAN

Ambode backs Tinubu on devolution of powers, federalism

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The Lagos State Governor, Akinwunmi Ambode, on Tuesday said the State Government stood solidly behind the position of a National Leader of the All Progressives Congress (APC), Bola Tinubu, on the issues of devolution of powers and the need to entrench true federalism.

Mr. Ambode, who spoke at the Fourth Quarter, 2017, Town Hall Meeting, the 9th in the series, held at the SUBEB Proposed Permanent Site in Kosofe Local Government, said the clamour across the country for restructuring was not out of place as the current political structure was seriously hindering Nigeria’s development.

Mr. Tinubu, at a forum held in Lagos recently, backed the calls for devolution of powers and the need for the nation to truly adopt the practice of true federalism, submitting that it was the surest way to correct the nation’s power imbalance and quell the agitations for secession.

Mr. Ambode, while responding to a question raised by a resident on calls for true federalism said, “I support true federalism; I support all the issues raised by Asiwaju; we are on the same page. That is the page of APC; that is where we are and that is what we are committed to.

“Like I have always said, we need to deal with issues that relate to devolution of powers. Like somebody said, if I have more resources, all these items that you are coming to raise here, once you raise it, I will just say done. I need more money.

“So, why should somebody be saying they are the ones in charge of inland waterways when the waterways is transporting my own people and my own services and when there is a law about it.”

Governor Ambode also questioned why despite the existence of Hotel Occupancy and Restaurant Consumption Law enacted by the Lagos State House of Assembly, there were still attempts from the central government to regulate hotels and entertainment centres in the State, a situation he said was an anomaly that should be addressed accordingly.

“We enact a law and somebody says he wants to do another law that regulates hotels inside Lagos,” he said.

“Is it not because of the roads that they put hotel there? That is what devolution of power is saying. If these things are on residual list, let Local Government and States deal with them. That is all that we are asking for. It’s not that we will generate Value Added Tax (VAT) here and somebody will be sharing 50 per cent of the VAT somewhere else.

“So, obviously that is the whole idea behind this agitation for true federalism, devolution of powers and the need to use it to liberate ourselves so that we can get more prosperous; so that our people can be more comfortable and it is all about the welfare of our people.

“Our people have said that we should do this work and we must be able to speak on your behalf on the things that really matter to all of you.”

Mr. Ambode said his administration would not relent in its efforts towards combating security challenges, particularly during the ember months, adding that concerted efforts from the traditional rulers and community leaders, who are closest to the people, were very pivotal to achieving the desired result.

“We are in October and we are going to December, naturally, when it gets to the ember months, somehow traditionally, crime rate go up but in the last two years, we have been able to reduce crime rate when it is coming to December,” he said.

“I want to appeal to all our traditional rulers and other community leaders; there is a need for us to support the Neighborhood Safety Corps. Also our volunteers and the people should now be more vigilant and then cooperate with our security agencies to maintain law and order.

“I want to reduce the crime rate to the barest minimum and I know that we are going to engage a lot of our youths in end of the year activities to make sure that peace continue to reign in Lagos,” the Governor said.

Besides, Governor Ambode also implored the various Non Governmental Organisations (NGOs) to increase their awareness campaign on the dangers of drug abuse, saying that there was an urgent need for them to also join the fight against all forms of domestic and sexual violence.

“Like people already know, we are at the forefront of fighting drugs, sexual abuse and violence against women and children, we will not relent in fighting these menace in the society.

“I believe strongly this is the time to talk to our children; I believe strongly this is the time to talk to our wards and even those who are around us that this time around, the State Government is ready to fight crime in all its ramifications,” he said.

The Governor also commended residents for their continuous support to his administration, saying that it had gone a long way in driving the various infrastructural development programmes implemented by the State Government.

He particularly commended the efforts of some community associations who have taken the initiative to start up projects in their vicinity, assuring that aside recognition from the State Government, his administration would ensure that such projects would be supported to ensure realisation.

Governor Ambode also tasked chairmen of the 20 local government and 37 local council development areas to look into the welfare of persons living with disabilities and the elderly, saying that the all inclusive mantra of his administration must be felt in every part of the State.

The governor, who reeled out some of the major projects embarked on by his administration in the last quarter which include commencement of the reconstruction of Oshodi International Airport Road, construction of Pen Cinema Flyover, opening of the DNA Centre, appealed to residents on inconveniences being experienced as a result of ongoing projects and assured that they would be completed on schedule.

He said the State Government was deeply concerned about the traffic situation in Apapa area in recent times, saying that efforts would be put in place to address it, just as he said that 43 major link roads affected by rain would be rehabilitated before the end of the year.

NNPC Board War! Powerful oil magnates back petroleum minister, Kachikwu against Baru

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There is no gainsaying Baru has stung the giants of the oil industry, from their peaceful repose, as he engages Kachikwu in a no holds barred war of ego, power and words.

According to This Republic reports, petroleum industry giants have joined forces to launch a devastating offensive against the NNPC boss, Baru, in solidarity with Kachikwu, who has so far granted them a fair deal and treated them well since he assumed office as Petroleum Minister.

Several other big guns in the country’s oil sector have aligned forces in the wake of Baru’s antagonism of Kachikwu on Buhari’s watch. Among other things, they are unhappy with the way President Muhammadu Buhari has handled the crisis.

This Republic stated in its report that it is an open secret that the presidency favours Baru against his boss, Kachikwu. Thus, the oil moguls’ decision to protect one of their own. Their loyalty to Kachikwu is however, understandable.

It would be recalled that soon after they got their contracts with the NNPC cancelled in the wake of Buhari’s administration, Kachikwu nullified the cancellation and restored Tunde Ayeni and Capt. Hosa Okunbo ‘s contracts back to them thus saving most of them from interminable losses.

Little wonder they are miffed over the unfair treatment being meted to the petroleum minister, courtesy Baru, on Buhari’s watch. Findings revealed that the oil moguls have compiled a dossier and amassed a war chest by which they intend to prosecute wild offensives against Baru.

The impasse between Baru and Kachikwu manifested soon after the latter accused Baru of humiliating him and being insubordinate in a memo written to President Buhari. Kachikwu alleged that the NNPC boss had repeatedly sidelined and disrespected the board of the national oil firm, which is chaired by Kachikwu as the minister of state.

The minister, in the leaked letter, had informed Buhari that against the rules, some over $25bn (about N9 trillion) contracts were never reviewed or discussed with him or the board of the NNPC before Baru gave them out.

The presidency was embarrassed by the content and import of Kachikwu’s memo and had allegedly instructed Baru to issue a prompt rejoinder to the minister’s memo.

Days after Kachikwu’s memo and his visit to the presidential villa in Aso Rock, at Buhari’s behest, Baru, who had maintained stunning and disconcerting silence, has suddenly found his voice.

Following his rejoinder to Kachikwu’s memo, wherein he dismissed some of the minister’s claims, Baru has described his boss’ allegations as “unfortunate” and “unfounded.”  Read More This Republic

Former Plateau Head of Service, Moses Gwom shot dead

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Agency Report       Gunmen on Tuesday attacked Wereh village in Barkin-Ladi, Plateau State, killing former Plateau Head of Service, Moses Gwom, and two other persons.

Sources from the village indicated that the assailants invaded the village at night, shot many people, and ran into the bush.

“The attack lasted about 10 minutes or so,” the source told the News Agency of Nigeria (NAN) on Wednesday in Jos.

Mr Terna Tyopev, the Public Relations Officer (PPRO) of the Plateau Police Command, who confirmed the incident, said that it took place “around 8 pm on Tuesday”.

“The incident took place on Tuesday, that I can confirm. Another thing I can confirm is that a former Head of Service was killed and many others were injured,” he said.

He said that investigation had begun toward unraveling the mystery behind the killings.

The recent attack is the third in the last few weeks in Plateau.

Last week, gunmen killed Alhaji Mohammed Suleiman, the Village Head of Gyangyang in Jhar Chiefdom of Kanam Local Government. Twenty-five others had been killed at Ncha village in Miango, Bassa Local Government, a week earlier.      NAN

ZENITH BANK SPONSORS CFA INSTITUTE RESEARCH CHALLENGE IN NIGERIA

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In its quest to further boost the standard of financial education in Nigeria, Zenith Bank Plc. is to partner the CFA Society Nigeria to sponsor the CFA Institute Research Challenge in Nigeria.

The CFA Institute Research Challenge is the world’s most prestigious investment research competition among university students globally, aimed at promoting best practices in equity research among the next generation of analysts.

The competition promotes ethics and best practices in investment research through hands-on mentoring and intensive training in equity analysis and presentation. The overall objective of the CFA Institute Research Challenge is to provide university students with valuable real-world exposure to the practice of finance to complement the theoretical framework of the university education.

Nigeria is participating in the global competition for the first time and has eight Nigerian universities from across the country participating in this maiden edition. The participating universities are: Ahmadu Bello University, Babcock University, Covenant University, Lagos Business School, Obafemi Awolowo University, University of Abuja, University of Ibadan and the University of Lagos.

The teams are required to conduct a detailed investment research on a subject company and will be presenting their research reports to a high-level panel of investment professionals who will serve as judges with the winner of the 2017/2018 CFA Institute Research Challenge in Nigeria emerging at a national final scheduled for February 2018 at the Civic Centre, Lagos.

The national champion from Nigeria will then join 35 other national champions at the Europe, Middle East and Africa (EMEA) Regional Competition in Dublin, Ireland in April 2018 to compete for a slot in the four-team global final that will hold in Seoul, South Korea in the same month.

On the partnership, the bank said it was proud to sponsor the CFA Institute Research Challenge in Nigeria and that as an institution that strongly believes in the development of human capital, it was one of the ways it could contribute to the development of education in Nigeria.

It added that by partnering with an institution like the CFA Society Nigeria to run this competition, it believes this would go a long way in promoting global best practices among young Nigerian students.
Zenith, Nigeria’s largest bank by Tier-1 capital, has youth development at the core of its corporate social responsibility (CSR) and has sponsored similar initiatives in the educational sector.

Also speaking on the partnership with Zenith Bank, Banji Fehintola, CFA, President of the CFA Society Nigeria said, “CFA Society Nigeria is very excited to secure a multi-year sponsorship from Zenith Bank for this important mandate of our university outreach program.

“CFA Society Nigeria is primarily focused on improving the level of professionalism, ethics and investment knowledge in our industry and our university competitions enable us to invest in the development of the next generation of investment professionals. We are very pleased with Zenith Bank’s partnership in helping us to achieve our mutual agenda of contributing towards the development of our educational system and the investment industry in Nigeria,” he added.

Commenting on the benefits of the competitions to participating teams, Chairman of CFA Society Nigeria’s University Relations Committee, Razaq Ahmed, CFA, added that “each team is paired with an experienced industry mentor in addition to a Faculty Adviser from each university who provide specific guidance to the teams.”

“The teams are also provided free access to research resources such as Bloomberg terminals and online library. It is a huge opportunity for Nigerian students to develop relevant hands-on skills set, explore career choices, get mentorship from experienced investment professionals and interact and compete with their colleagues from across the world,” he said.

The competition provides university students with an opportunity to foster lifelong relationships with the investment industry as students get introduced to investment professionals who act as their mentors, peers from other universities and companies involved in the CFA Institute Research Challenge.
Furthermore, by working in teams and with industry mentors, the competition helps students to develop critical interpersonal skills needed in the investment management industry alongside much needed networking opportunities with finance professionals. The winners of the competition stand the chance to embark on international travels, win CFA Society Nigeria’s access scholarships and prizes, and be taken as interns with Zenith Bank Plc. The CFA Institute Research Challenge is organized in Nigeria by CFA Society of Nigeria.

116 Nigerians killed in South Africa in 2 years as police shot another near Johannesburg Tuesday

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The Nigerian mission in South Africa has confirmed the killing of a 25-year-old Nigerian, Mr Ibrahim Olalekan Badmus, a native of Lagos state.

The News Agency of Nigeria (NAN) reports that the killing occurred less than a week after Mr Jelili Omoyele, a 35 year –old cellular phone technician was shot dead at Doornfontein, near Johannesburg.

Mr Godwin Adama, Nigeria`s Consul General (CG) in South Africa, told NAN on the telephone from Johannesburg that Badmus was allegedly killed on Tuesday at Vaal Vreneging, near Johannesburg.

“Information at our disposal said that the deceased was killed by a South African police officer.

“I led a delegation from the mission to visit the scene on receipt of the information. When we arrived the scene, the place was tensed up because Nigerians there were not happy,” he said.

South African police on Nigerians

Adama said that the mission intervened and calmed down the situation.

“We immediately met with the Station Commander in the area with some selected Nigerians. The police assured that a thorough investigation would be carried out.

“The investigation will be done by the Independent Police Investigating Department,” he said.

According to the CG, an autopsy will be carried out while investigation on the killing is on.

Adama said that the mission urged Nigerians in the area to be calm and law abiding. NAN

Davido calls off ‘Felebration’ performance in honour of late friends

Nigerian artist, David Adeleke, popularly called `Davido’, has cancelled his performance at this year’s Felabration in honour of his late friend Olugbenga Abiodun popularly known as `DJ Olu.’

Bereaved Nigerian popular singer, David Adeleke popularly known as Davido has announced that he would not be performing at 2018 Felabration.

He informed via his Snapchat account.

He said, “To all my fans expecting me at Felabration tomorrow, I’m sorry, I will not be performing anymore. I promise to make it up. I love you guys! Everyone stay prayed up! I love each and every one of you…”

Late Olu

He also quoted from the Bible Matthew, Chapter, 5:4, “Blessed are those who mourn, for they shall be comforted.” A quote which depicts he is currently mourning his late friends

Davido’s snapchat

Davido lost two of his friends; Olugbenga Abiodun aka Olu and Tagbo over the weekend and he has dedicated his two awards to them.

Davido, however, apologise to his fans for his inability to perform at the annual Felabration show, in honour of late Fela Anikulapo-Kuti.

He said: “To all my fans expecting me at Felabration tomorrow I’m sorry I would not be performing anymore. I promise to make it up. I love you guys! Everyone stay prayed up! I love each and every one of you…”

Davido who recently won the 2017 AFRIMMA Awards (Song of the Year and Video of the year,) also dedicated the awards to his late friends on Instagram.

The Afro hip-hop star has lost three of his dear friends; Tagbo, Dj Olu and Chime in the past week due to unclear causes.

Olu and Chime were allegedly found dead in his (Olu’s) car just days after the death of another Davido’s crew member, Tagbo.

Davido  denied his involvement in Tagbo’s demise.

Rohr happy working with Super Eagles

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A Franco-German tactician, Gernot Rohr, has expressed pleasure working with the Super Eagles, following the three-time African champions qualification for Russia 2018 FIFA World Cup on Saturday.

Nigeria became the first African country to qualify for the 2018 FIFA World Cup in Russia after defeating Chipolopolo of Zambia on Saturday in Uyo.

The current Super Eagles re-enacted the feat of the Super Eagles’ class of 1997 that qualified for the France’98 World Cup with a match to spare.

Rohr, in a statement by Ademola Olajire, the Nigeria Football Federation (NFF)’s spokesman on Tuesday, said that he was happy working with the team.

Rohr said, “I am very excited to be working with this team, a blend of the experienced and the young and ambitious ones.

“They are a delight to be with at all times, and I believe we are on to great things.

“At the beginning of the qualifying series, many people said we were going to be chased out.

“We sat down together and we promised ourselves that we would go all out and get the ticket.”

The 64-year-old coach, who was employed 15 months ago, led the team to a 1- 0 defeat of Tanzania in Uyo in September 2016; 2-1 defeat of Zambia in Ndola in October, 2016.

Also, at the start of the 2018 World Cup race, the coach led the team to a 3-1 defeat of Algeria in Uyo in November 2016; a 3-0 defeat of Togo in a friendly match in Paris in June 2017.

His victories also include a 4-0 bashing of Cameroon in Uyo in September 2017 and a 1- 0 defeat of Zambia in Uyo in October 2017, which guaranteed the World Cup ticket.

The only loss was against the South Africa’s Bafana Bafana in Uyo, at the start of the 2019 Africa Cup of Nations qualifiers in June 2017.

Rohr said, “The match was a big wake-up call for us. Now that we have the World Cup ticket, we will go all out for the AFCON ticket and get it.

“When you have a team that has so much self-belief, a lot of things are possible.

“Age is, but a number. I feel young and able and willing to go on working with this group.’’ NAN