October 23, 2017

* Putting aside public spat, Kachikwu, Baru chart way forward for oil sector (ThisDay) * Shock as 21,780 Kaduna Teachers fail primary four exams (ThisDay)

* Putting aside public spat, Kachikwu, Baru chart way forward for oil sector (ThisDay)     * Shock as 21,780 Kaduna Teachers fail primary four exams (ThisDay)

SABINEWS MORNING NEWS UPDATE OCTOBER 11, 2017

 

Putting aside public spat, Kachikwu, Baru chart way forward for oil sector (ThisDay)

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, Tuesday put aside their differences, even if temporarily, and discussed opportunities in the Nigerian petroleum industry and ways to grow the sector. In a leaked letter to President Muhammadu Buhari, Kachikwu had listed a litany of procedural breaches against Baru, accusing the latter of not only undermining his position as the chairman of the NNPC board but also of awarding contracts totalling $26 billion without recourse to due process. Read more

Shock as 21,780 Kaduna Teachers fail primary four exams (ThisDay)

About 21,780 out of 33,000 teachers have failed the primary four examination administered to test their competence by the Kaduna State government. Owing to the mass failure, the state is now shopping for 25,000 new teachers as one of the plans to restore quality to education. Governor Nasir el-Rufai of Kaduna State unveiled the planned recruitment when he received a World Bank delegation in Kaduna on Monday, reported the News Agency of Nigeria (NAN). Read more

‘How we consolidated our position through backward integration’ (Guardian)

Africa’s foremost business leader, Aliko Dangote has attributed the success of his businesses to the implementation of a backward integration agenda to promote self-sufficiency in various commodities. Speaking at the Financial Times’ 4th Annual Africa Summit at Claridges in London, Dangote said the strategy has worked and is working, therefore urged other African nations to do same to reduce the Continent’s import dependence. Read more

Trucks, tankers barred from roads in Lagos (Guardian)

Truckers and Petroleum tankers have been barred from parking indiscriminately on Lagos roads, has the stakeholders, in a fresh resolution declared that all tankers, trailers and trucks should remain in truck terminals outside the state. The stakeholders, including the Nigerian Ports Authority (NPA), Nigerian Shippers’ Council (NSC), Nigerian Association of Road Transport Owners (NARTO), the terminal operators and Nigeria Police, among others, recently met in Apapa. Read more

NSE’s market capitalisation plummets by N19 billion (Guardian)

Transactions on the floor of the Nigerian Stock Exchange closed on a downward note yesterday, as major highly capitalized stocks depreciated in price causing market capitalization to plunge by N19 billion. Yesterday, the All -share index (ASI) shed 55.33 points, representing a decline of 0.15 per cent to close at 36,776.60 points from 36,831.93 posted on Monday.Similarly, the market capitalisation shed N19 billion, to close at N12.659 trillion from N12.678 trillion. Read more

‘70 per cent of companies in Cross River operate without EIA’ (Guardian)

Environmental experts have disclosed that over 70 percent of companies in Cross River State do not have Environmental Impact Assessment (EIA) plan.This position was made known recently in Calabar at a two-day workshop on Capacity Building (EIA Training) and Advocacy Against Land grabbing in Cross River by Rights Action/Friends of the Earth Nigeria (ERA) in partnership with Community Forest Watch Nigeria. Presenting a paper on “Appraisal of EIA Forest Land Grabbing in Nigeria”, a senior lecturer at the University of Calabar, Dr. Raphael Offiong said some mining companies have abandoned lots of mining pits that would be of great danger to communities involved in the nearest future because there was no EIA plan. Read more

NPDC’s asset portfolio to hit $5b by 2022 (Guardian)

Nigerian Petroleum Development Corporation Limited, (NPDC), has unveiled plans to increase asset portfolio from the current $3 billion to $5 billion by 2022. Speaking at the opening ceremony of Accrete Petroleum’s office complex in Lagos at the weekend, the Managing Director of the company, Yusuf Matashi, added that the corporation aimed to increase production to 500,000 barrels per day from the current level of 150,000 and   180,000 barrels per day equity. Read more

FG voids NPA, Intels Pilotage Agreement (ThisDay)

The federal government has directed the Nigerian Ports Authority (NPA) to terminate the boats pilotage monitoring and supervision agreement that the agency has with Intels Nigeria Limited, a leading integrated logistics and facilities services provider in the maritime and oil and gas logistics sectors of the country, saying that the contract was void ab initio. Conveying the decision of the federal government to NPA, the Attorney General of the Federation (AGF) and Minister of Justice, Mallam Abubakar Malami (SAN), in a letter dated September 27, 2017 to the Managing Director of the NPA, Ms. Hadiza Bala-Usman, said that the agreement, which has allowed Intels to receive revenue on behalf of NPA for 17 years, violates the Nigerian Constitution, especially in view of the implementation of the Treasury Single Account (TSA) policy of government. Read more

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FIRS budget, others passed (ThisDay)

The Senate Tuesday also passed the N152 billion 2017 budget of the Federal Inland Revenue Service (FIRS). Approving the report of its Committee on Finance, the Senate approved N75.8 billion as personnel cost, representing 49.58 per cent of the total FIRS budget, N46 billion for overheads, representing 30.09 per cent, and N31 billion for capex, representing 20.33 per cent. The personnel budget of the agency increased from N51.8 billion in 2016, to N75.8 billion.“This is due to the planned recruitment of 700 additional staff in 2017 and a salary review by 30 per cent as approved by the Salary, Wages and Income Commission,” the report read. Read more

$25bn contracts: EFCC, ICPC should decide Kachikwu, Baru’s fate –SERAP (Punch)

The Socio-Economic Rights and Accountability Project has asked the Economic and Financial Crimes Commission as well as the Independent Corrupt Practices and other related offences Commission to investigate the controversy surrounding the award of $25bn contracts in the Nigerian National Petroleum Corporation. The Minister of State for Petroleum Resources, Ibe Kachikwu, and the Group Managing Director of the NNPC, Maikanti Baru, have been at loggerheads over the process of awarding the contracts. Read more

N120bn bribery allegations: Sen. Misau charged with spreading injurious falsehood against IG (Punch)

The Federal Government, on Tuesday, through the Office of the Attorney General of the Federation and Minister of Justice, filed two separate sets of charges against the Senator representing Bauchi Central Senatorial District, Isah Misau. One of the two sets of charges, marked FCT/HC/CR/345/2017, filed before the High Court of the Federal Capital Territory in Abuja, stemmed from the running battle between Misau and the Inspector-General of Police, Mr. Ibrahim Idris. In the case filed before the FCT High Court, the prosecution preferred against Misau, a retired Deputy Superintendent of Police, five counts of making “injurious falsehood” against Idris and the Nigeria Police Force based on various allegations of corruption made by the senator against the IGP in the media. Read more

Russia 2018: Ezenwa reveals his secret (Punch)

Super Eagles goalkeeper Ikechukwu Ezenwa has expressed his delight at Nigeria’s qualification for  the Russia 2018  World Cup. Ezenwa said he had  always wanted to play at the  World Cup.The IfeanyiUbah keeper  said he  spent many years working hard with the focus on showcasing his talents at the global stage. “Beating Zambia 1-0 to qualify for the World Cup is really fulfilling. It is a fulfilment of all I have been looking forward to for some time now,” he was quoted by the News Agency of Nigeria as saying on Tuesday. Read more

Eagles reveal teams they will love to face in Russia (Vanguard)

A cross section of players of the Super Eagles including coach Gernot Rohr have revealed the teams they will love to face at the World Cup in Russia next year. The team’s tec hnical adviser, Rohr says he will love to play against his country of birth, that is the defending World Cup champions Germany  who are also through to the World Cup. Read more

Russia 2018: Olofinjana tips Nigeria to reach q-final  (Vanguard)

Ex-Nigerian international, Seyi Olofinjana has urged the Super Eagles to target the quarter-finals at the 2018 FIFA World Cup. The legend was speaking after coach Gernot Rohr led the West African side to the global showpiece after beating Zambia on Saturday. The 2013 African champions became the first African team to qualify for Russia when beating Chipolopolo 1-0 in Uyo. “We’ve been to a few World Cups in recent years, and we need to be looking at progressing further – rather than crashing out in the early stages,” Olofinjana told BBC Sport. Read more

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Super Eagles star Ahmed Musa named to Premier League XI for…… (Allnigeriasoccer)

Leicester City striker Ahmed Musa has been named to a Premier League XI for the shortest players in the English top-flight by Sky Sports. Manager Gordon Strachan has blamed Scotland’s World Cup qualifying exit on the nation’s footballers being genetically small, and the British television sports brand compiled a list of shortest and tallest combined Premier League XIs. Read more

North Korean special forces use paragliders in simulated attack on South Korean-US military HQ (Telegraph)

North Korean special forces have carried out an exercise in which they used paragliders to simulate infiltrating behind South Korean lines and launch an attack on the headquarters of the joint South Korean-US military command. Officials of Seoul’s Defence Ministry told Yonhap news that the exercises were conducted over a number of days in mid-September and were the first time that the tactic had been tested by the North. Special forces troops used paragliders to land on a training ground where a mock-up of the South Korea-US Combined Forces Command in Seoul had been constructed. Read more

Turkey’s Erdogan blames US envoy for diplomatic crisis (Memo)

President Tayyip Erdogan blamed the US ambassador to Turkey on Tuesday for a diplomatic crisis between the two countries and said Ankara no longer considered him Washington’s envoy. In a blunt and personal attack on outgoing Ambassador John Bass, Erdogan suggested Bass acted unilaterally in suspending visa services in Turkey after the arrest of a US consulate worker, and said “agents” had infiltrated US missions.The US State Department defended Bass, saying he had the “full backing” of the US government and his actions were coordinated with the State Department, White House and National Security Council. Read more

China’s Communist Party makes final preparations for key congress (Reuters)

China’s Communist Party opened a meeting on Wednesday to make final preparations for a key party congress later this month, state media said, a five-yearly event where President Xi Jinping is expected to further tighten his grip on power. … The seventh plenary session of the party’s Central Committee will review draft reports on the work of the party, its discipline and anti-corruption commission, and amendments to be made to the party’s constitution, all of which will be delivered at the 19th Party Congress that opens on Oct. 18, the official Xinhua news agency said. Read more

Commanding Officers of USS McCain Relieved of Duty Following Deadly Collision (Nbcnews)

The command officers of the USS John S. McCain were relieved of duty by Navy brass on Tuesday, following the ship’s August collision near Singapore with a merchant vessel that resulted in the deaths of 10 sailors.The ship’s commanding officer, Cmdr. Alfredo J. Sanchez, and the executive officer, Cmdr. Jessie L. Sanchez, were said to have exercised poor “judgement” and “leadership,” respectively, according to a statement from the U.S. Pacific Fleet. “Both were relieved due to a loss of confidence,” it said. Read more

Madrid scorns Catalan leader’s independence statement (BBC)

Spain’s deputy prime minister described Mr Puigdemont as someone “who does not know where he is, where he’s going”. Prime Minister Mariano Rajoy is due to hold an emergency cabinet meeting to discuss the government’s next steps. Mr Puigdemont signed a declaration of independence on Tuesday, but halted implementation to allow negotiations. There had been speculation that the Catalan president might declare independence and put the move into effect, plunging Spain into an even deeper political crisis. Read more

Asian shares higher after Wall Street sets new record high (Washingtonpost)

Asian stocks advanced Wednesday after Wall Street’s main index closed at a fresh record high and Spain’s Catalonia crisis eased after an independence leader backed away from plans to break away immediately.KEEPING SCORE: Japan’s Nikkei 225 index rose further a day after its highest close in 21 years, adding 0.2 percent to 20,870.24. South Korea’s Kospi rose 0.6 percent to 2,449.53 and Hong Kong’s Hang Seng climbed 0.2 percent to 28,545.98. The Shanghai Composite in mainland China edged up 0.2 percent to 3,387.54. Australia’s S&P/ASX 20 advanced 0.6 percent to 5,770.10. Shares in Southeast Asia were mostly higher. Read more

 

 

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