Sabinews Midday News Update for December 17, 2014MIDDAY NEWS


Alison-Madueke appointed GECF president

Barely three weeks after her election as the first female President of the Organization of the Petroleum Exporting Countries (OPEC), the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has been appointed as the President of the Ministerial Meeting of the Gas Exporting Countries Forum (GECF), the first woman to be so appointed by the body.

The appointment was announced yesterday in Doha, Qatar, at the ongoing 16th Ministerial Conference of the GECF. Mrs. Alison-Madueke who could not attend the meeting because of her involvement in the ongoing negotiations to end the oil workers’ strike was represented at the meeting by the Nigerian Ambassador to Qatar, His Excellency Shuaibu A. Ahmed. Read more

Fitch Revises Nigeria’s 2015 Growth Projection to 5.2%

Fitch Ratings, a global rating agency has revised downwards Nigeria’s 2015 growth projections to 5.2 per cent from 6.4 per cent as a result of the dwindling price of crude oil in the international market.

The rating agency pointed out that Nigeria and some other oil producing countries in the region would face worsening current account and fiscal balances next year. Read more

Liberia: Oil Block Generates US$22m

The Government of Liberia has announced that it is generating US$22 Million from the leasing of Oil Block-16 to three companies – Liberty Petroleum Corporation of Liberia, Pillar Oil Limited of the United States of America and Millennium Oil and Gas of Nigeria.

President Ellen Johnson-Sirleaf through a communication read on the floor of the plenary of the House of Representatives at the Capitol on Tuesday, 16 December seeks the authorization of that august body to ratify the Block-16 agreement between the Government and the three companies. Read more

Nigeria Face Cote D’Ivoire, Mali

Nigeria will take on Mali and Cote d’Ivoire in friendly matches in Abu Dhabi in the New Year, according NFF boss Amaju Pinnick.

Pinnick revealed to that plans have been concluded to camp the home-based Eagles in Abu Dhabi. Read more

Makinde, Oyo PDP guber aspirant defects to SDP

A Peoples Democratic Party (PDP) governorship aspirant in Oyo State, Seyi Makinde, has officially announced his defection to the Social Democratic Party (SDP) and emerged as the governorship candidate of the party.

With his declaration as the SDP candidate, the state now has five governorship candidates, former governor Rashidi Ladoja (Accord) Adebayo Alao-Akala (Labour), Abiola Ajimobi (APC) and Teslim Folarin (PDP) ahead of February 28 gubernatorial polls. Read more

Supreme Court Dismisses Suit Against Jonathan’s Eligibility

The Supreme Court yesterday dismissed the appeal filed by a chieftain of Peoples Democratic Party (PDP), Dr Umar Ardo, challenging the decision of the Court of Appeal, which stopped him from joining in the appeal challenging President Goodluck Jonathan’s eligibility to re-contest in 2015.

The court dismissed the motion after it was moved by Ardo’s lawyer, Dr. Amuda Kannike (SAN), seeking to withdraw the appeal. Read more

Pan-Atlantic varsity lauds bank’s support for entrepreneurship

Diamond Bank Plc has been commended by Pan-Atlantic University’s Enterprise Development Centre (EDC), for its robust and unwavering support for young and upcoming entrepreneurs in the country.
Speaking at the Global Entrepreneurship Week in Lagos where the bank was recognised as a sponsor at a National Scale, Peter Bankole, Director, EDC, said that Diamond Bank, through its array of MSME-friendly products and propositions, has contributed significantly to the development of the sector in recent years, noting that the Bank’s robust initiative for MSMEs has aided a lot in stimulating employment in the country. Read more

‘Developing Nations Losing $1 Trillion Yearly to Dirty Money’

Crime and corruption are draining a record $1 trillion a year from poor and middle-income nations with the disappearance of dirty money hitting some of the world’s poorest regions hardest, a report has revealed.

A record $991 billion in unrecorded funds left 151 developing and emerging economies in 2012, up nearly five percent from a year earlier, according to US-based watchdog Global Financial Integrity (GFI) that exposes financial corruption. Read more



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