FUEL SCARCITY HITS LAGOS, OGUN AS NIGERIA LOSES $500B INVESTMENTS TO DELAY OF PIB

FUEL SCARCITY HITS LAGOS, OGUN AS NIGERIA LOSES $500B INVESTMENTS TO DELAY OF PIB

Sabinews Midday News Update for December 10, 2014MIDDAY NEWS

 

Fuel scarcity hits Lagos, Ogun

Fuel scarcity has hit Lagos and some parts of Ogun State, as long queues  resurfaced across the states.

When the Nigerian Tribune went round on Tuesday, in Lagos and its environs, long queues were seen in almost all the petrol stations that were selling the products while many remained under locks and key. Read more

Petroleum minister decries absence of standard operating procedure

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has decried the absence of adequate Standard Operating Procedure (SoP) in the oil and gas industry.

Speaking at the 16th Biennial Conference on Health, Safety and Environment (HSE) organised by Department of Petroleum Resources (DPR) in Lagos, she stated that: “A review of the number and nature of accidents in the last few years confirmed our genuine belief that safety control in the industry is not only imperative but requires new approaches and emphasis. Read more

Importers call for paradigm shift as oil prices nosedive

Importers have called on the Federal Government to take agriculture and solid minerals seriously in the face of dwindling oil revenues and naira devaluation, which are hurting businesses.

They warn that until the country’s leaders return to pre-independence era where agriculture was given a place of priority in the country, Nigeria would continue to drift downwards in its effort to sustain itself. Read more

Mauritians elect new parliament

Mauritians have begun voting in legislative elections with rival parties promising to boost the economy and battling over the proposed strengthening of presidential powers.

The issue of constitutional reform makes the polls some of the most important since the Indian Ocean nation gained independence from Britain in 1968. Read more

ETI appoints non-executive directors

Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange of the appointment of four new non-executive directors on its 15-member board, and the retirement of one non-executive director.

The new board members are Dolika Banda of Zambia, Graham Dempster of South Africa, Sheila Mmbijjewe of Kenya, and Alain Nkontchou of Cameroon. These new board members collectively bring 120 years of experience in banking and finance to the leadership of the world’s largest pan-African bank. Read more

Nigeria loses $500b investments to delay of PIB

Nigeria has lost investment opportunities valued at$500billion to other emerging nations in Africa and other parts of the globe  due to the inability of National Assembly to pass  Petroleum industry bill (PIB)into law in   the last two years ,Nigeria Natural Resources Charter which was launched in Lagos yesterday has revealed .

The report  which  was endorsed by some experts including, Mr. Gbite  Adeniji, Prof Adeola Adenikiju,  Mr Demola Adeyemi-bero, Mr bode Agusto, Mr Odein Ajumogobia, Prof Ademola,Ariyo, Prof Asisi Asobie, Prof Akpan Ekpo, Dr. Jubri  Ibrahaim,Dr. Otive  Igbuzor,Mr Tunji Lardner,Mrs.Lois Machunga . Dr Ebi Omatsola, and Prof Ukoha Ukiwo etc called for the splitting  of PIB for easy passage. Read more

Navy redeploys senior officers

The Chief of Naval Staff (CNS), Vice Admiral Usman Jibrin, has approved the redeployment of a number of senior officers in the Nigerian Navy. This followed the recent promotion of some senior officers in the service.

The affected senior officers, according to Director, Navy Information, Commodore Kabir Aliyu, include Rear Admiral JA Akinwale, Chief of Administration, Defence Headquarters, who has been moved to the Naval Headquarters as Chief of Policy and Plans, while Rear Admiral A O A Ikioda would take over as Chief of Administration at Defence Headquarters. Read more

UniIever Nigeria appoints finance director

Unilever Nigeria Plc has notified The Nigerian Stock Exchange of the appointment of Mrs. Adesola Sotande-Peters as the new Finance Director of the Company with effect from 1 January 2014.

Mrs Sotande-Peters had her college education at Friends School, Saffron Walden, Essex (1991-1992) passing out with ‘A’ Levels Mathematics, Physics, Chemistry, General Studies. From 1992-1995 she was at The American International University in London, graduating with a BA Business Administration & Economics, Grade Point Average 3.0. Read More

Court restrains Umeh from APGA chairmanship

An Abia State High Court sitting in Igbere, Bende Local government Council of the state has granted an order of ex-parte restraining the interim National Chairman of the All Progressive Grand Alliance (APGA), Victor Umeh, from parading himself as national leader of the party,

The order of the High Court, presided over by justice U. Ononogbo followed a suit brought by Chief A.C.R. Onubuogu on behalf of Lucky Erondu and four other applicants against Umeh and two others, Chris Ejike Uche and APGA, as co-defendants. Read more

South African judge approves Oscar Pistorius appeal

A South African judge on Wednesday allowed prosecutors to appeal to seek a murder verdict against Oscar Pistorius, who was found guilty on a lesser charge of culpable homicide for killing his girlfriend.

Prosecutors welcomed the decision. Read more

Germany Under-20 Star Rejects Nigeria

Hoffenheim defender, Kevin Akpoguma, will reject an invitation to play for Nigeria’s youth teams as he is an integral member of Germany’s Under 20 squad.

Akpoguma, whose mother is German, has been given a chance to display his wares to coach Samson Siasia at the Under 23 national team screening exercise. Read more

World Bank lends US$200mil to Nigeria phone firm for tower deal

The World Bank’s private sector arm has lent US$200 million (RM697.21mil) to Nigerian phone tower company IHS to help to fund its purchase of about 2,100 tower sites from the country’s No 4 mobile operator Etisalat Nigeria.

Privately-owned IHS raised US$2bil (RM6.97bil) in equity and US$600mil (RM2.09bil) in debt in November and the money from the World Bank’s International Finance Corporation (IFC) is part of this. Read more

 

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