The Nation Newspaper

Tag: Nigeria News

  • Nigeria to earn fresh $6.35b in taxes, royalties

    The push by the Management of the Nigerian National Petroleum Corporation (NNPC) to increase crude oil production and grow the nation’s revenue profile gained momentum with the closure of $875.75m alternative financing deal for the Nigerian Petroleum Development Company (NPDC) operated OML 65 through the Funding and Technical Services Agreement with CMES-OMS Petroleum Development Company (CPDC).

    A statement by NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, explained that NNPC Chief Financial Officer, Mr. Umar Ajiya, disclosed that the project, which scope cuts across exploration, development, production and provision of facilities with incremental first oil targeted for Q4 2020, was estimated to have potential reserves of 800 million barrels of oil equivalent (mmboe) with an ultimate recoverable reserve of 244 mmboe and cumulative production of 44mmboe from the Abura Main and Abura SE fields.

    Ajiya explained that over the project’s life, it was expected to generate over $6.35bn in taxes and royalties to the Federation to support Government’s medium to long term economic development agenda

    Speaking at the closing meeting with the financing partners in Dubai, United Arab Emirates, Ajiya, described the contractor financing model as an innovative approach by NPDC to funding its operations in response to the challenging economic environment, saying the approach would fast-track the development of NPDCs under-developed assets.

    He informed that the project was expected to ramp up production at OML 65 from 900barrels per day to 60, 000 barrels per day with average production over field life at 40,000 barrels per day.

    Throwing more light on the financing strategy, the CFO explained that the package entailed comprehensive financing solution that addresses the complex issues involved in growing NPDC’s production, minimizes its cost of capital, and maximizes its value preservation, adding that it also strikes a balance between risk and reward which gives investors a rate of return that is commensurate with funding a brownfield project which has significant exploration risk.

    READ ALSO: Beware of impostors, NNPC cries out

    He said the expectation was that this collaboration between NPDC and CPDC would translate in real terms to the efficient execution of the scope of activities for the optimal development of the OML 65 Asset within cost and schedule, whilst maximizing value to all the stakeholders.

    He said it was projected that the collaboration would enhance operational and financial performance strictly guided by the pre-agreed Key Performance Indicators (KPIs) which remains critical for determining incentive payment due to CPDC.

    On CPDC’s right to provide technical services, the CFO listed the field of consideration in this regard to include: drilling and completion services; building capacity and technology transfer; generating employment opportunities for youths with attendant positive multiplier effect on the nation’s economy, among other considerations.

  • Wines fuelling kidney, heart diseases, says manufacturer

    Most Nigerians are suffering heart and kidney diseases for consuming wines and other alcoholic beverages made for extremely cold countries.

    Chief Executive Officer (CEO) JAMEK Beverages James Iweh said many of the high priced brands were tested in German labs and found to be too harsh for persons resident in Nigeria.

    He stated this at the opening of a new distribution outlet along Ago Palace Way in Okota, Lagos at the weekend.

    Noting that JAMEK was in the business to serve Nigerians quality drinks, Iweh said it was not surprising his company was the sole importer of German brands including Dr. Zenzen and premiere producers of NAFDAC approved cocktail concentrates, wine quality wine and spirits.

    “Our wines are produced to soothe our weather because we make it in compliance with best recommendations. There are so many wines in Nigeria today that are too harsh because of the hot weather but if you drink JAMEK wine, you will see how smooth it is because it won’t gives you headache or heartburn.

    “Germany where we produce our wine is known for not compromising when it comes to quality. Our wines may not be the same price with other wines in the market but we are after the quality of the product and not the quantity.

    “Again whenever I want to produce any wine, I get sample of different wines and take it to Germany and we analyze it, I can tell you today that there are some spirits that people drink in Nigeria that are made for countries whose whether are cold. If I want to produce any spirit, I will make sure it won’t harm your health by giving you heartburn or work against your kidney,” he said.

    According to him, until the people understood the quality, texture and quantity of alcoholic beverages they should consume, they will continue to expose themselves to health hazards.

    Iweh, a discharged soldier, said his passion for winery made him leave the army, adding that he was in the business to deliver quality against most practitioners whose sole motives was profit.

    Noting that drugs and alcohol abuses were a global challenge, Iweh said they were driven by lack of self control by individuals who do not understand they should drink responsibly.

    “Alcohol is good for the body when you drink responsibly. It prevents brain disease and it blows away fats surrounding your heart. But when it is abused, it has damaging effect on the kidney. That is why at Jamek, we produce more of non-alcoholic fruit wines. Our fruit wine are fermented for 21 days to extract all traces of sugar as against the 17 days others do their,” he said.

    On how the company would check adulteration of its products, he said they were using top-notch technology and the double-cork approach.

    He said: “There is no way JAMEK wine will be imitated and we won’t know when we see it. I have an app in my phone and if I enter any wine store and scan a bottle of my product, I will see the barcode, otherwise, it is fake.

    Again, our products are very protected as the corks are doubled and it can never be faked in Nigeria.

    READ ALSO: Palm wine seller killed for demanding N3m compensation from daughter’s lover

    “I am the franchised owner of all my products because they are all NAFDAC rated and we do what we call Good Manufacturing Practice (GMP), by inviting NAFDAC to be part of the production and that is why they also investigate the companies that produce for us.

    “JAMEK Cocktail is the first ever approved wine by NAFDAC in Nigeria. It is made up of mango and other fruits.

    When you talk about cocktails, you talk about content that is refined and concentrate not flavored. “Concentrate drink is different from flavored drink because it’s pure fruits and NAFDAC did not belief this and they told me they are going to prove whether the cocktail is fruit concentrate.

    “So in 2015, NAFDAC travelled to Germany to visit the company that produces it and there they saw mangoes and other fruits being brought in and produced fresh without adding any sweetener. That was when they approved the cocktail and gave us a number, making it the first cocktail that will ever be approved in Nigeria.

    “I am into wine business not just because of making money alone but also to produce what will be of great health benefits to human body as well as creating jobs for people,” he said.

  • ‘I stole two-month-old baby out of desperation to have male child’

    A 39-year-old lady, Mercy Momoh has been arrested by the operatives of Ekiti Police Command for allegedly stealing a two-month-old baby in Ado-Ekiti.

    Momoh, who hailed from Edo state, was arrested on Saturday at her residence located at Odo-Aremu area, along old governor’s office in the state capital.

    The baby was stolen from his mother, Mrs Funmilayo Sunday on Friday around 1pm at the State Secretariat.

    It was gathered that the suspect tricked the baby’s mother, Funmilayo Sunday, to follow her to the State Secretariat under the guise to help collect some relief materials being given by government to flood victims.

    The suspect, on getting there, sent the baby’s mother to help her procure recharge card but ran away with the baby before the arrival of the woman.

    The command spokesperson, Caleb Ikechukwu, who confirmed the arrest to journalists on Saturday in Ado-Ekiti, said investigation is still on going to unravel the proper situation.

    He said: “It is confirmed that the woman who stole Two-Month-Old baby has been arrested by the operatives of the Ekiti Police Command.

    “The suspect is Mercy Momoh, a 39-yr-old lady from Edo State. She was apprehended through intelligence made available to the police and would be prosecuted after conclusion of investigation.

    “Investigation is still on going. More details will come to reveal what really transpired.

    “The Nigeria Police would no longer reveal to the public the means which they effect the arrest of criminals because criminals these days now always take advantage of such information.

    “And acting on that information on how they can be arrested they now devise other means of carrying-out their nefarious act without being arrested.

    “All I can tell you is that the woman that stole the infant baby has been arrested and investigation is still ongoing

    “We call on members of the public to be careful when dealing with strangers. The suspect was apparently nice to the victim, that was why she got the baby easily. Citizens should not be carried away by kind strangers”, Ikechukwu said.

    READ ALSO: Housewife remanded in prison for allegedly pouring hot water on 10-month-old baby

    But, a Police source who spoke on condition of anonymity with The Nation said the police were informed of the incident by the mother of the baby on the same day, at about 4.30pm.

    She disclosed that the police detectives immediately swung into action, and on a tip off, traced the suspect to her residence, where she was arrested around 11pm, on Saturday.

    According to her, the suspect confessed that she stole the baby because of her dire need of a male child.

    She claimed that due to her inability to bear a male child, her husband got married to another woman and may likely throw her out of the house”, he said.

    The source added that the Commissioner of police, Amba Asuquo, has directed that the matter to be thoroughly investigated without delay, and necessary action taken for justice to prevail in the case.

  • Keystone Bank promotes climate action, sustainability

    Keystone Bank Limited has committed to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change.

    By signing the Principles for Responsible Banking, Keystone Bank joins a coalition of 130 banks worldwide, representing over $47 trillion in assets committing to taking on a crucial role in helping to achieve a sustainable future.

    Taking place at the start of the UN General Assembly, the official launch of the Principles for Responsible Banking marked the beginning of the most significant partnership to date between the global banking industry and the UN.

    “The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy.

    “The Principles create the accountability that can realize responsibility, and the ambition that can drive action,” said UN secretary-general Antonio Guterres at the launch event, attended by the 130 founding signatories and over 45 of their CEOs.

    Executive Director of the United Nations Environment Programme (UNEP) Inger Andersen explained that a banking industry that plans for the risks associated with climate change and other environmental challenges cannot only drive the transition to low-carbon and climate-resilient economies, it can benefit from it.

    “When the financial system shifts its capital away from resource-hungry, brown investments to those that back nature as solution, everybody wins in the long-term,” Anderson noted.

    Read Also: Keystone Bank rewards verve card holders with free petrol

    Executive Director Keystone Bank Limited, Yemi Odusanya, said the institution is convinced that only in an inclusive society founded on human dignity, equality and the sustainable use of natural resources can our clients, customers and businesses thrive.

    According to Odusanya: “By signing up to the Principles, we commit to “using our products, services and relationships to support and accelerate the fundamental changes in our economies and lifestyles necessary to achieve shared prosperity for both current and future generations.

    “The Principles for Responsible Banking are supported by a strong implementation and accountability framework.

    “By signing them, Keystone Bank commits to being transparent on both our positive and negative impact on people and planet. Keystone Bank will focus where it has the greatest impact – in its core business – and set, publish and implement ambitious targets to scale up positive and address any negative impacts in line with global and local goals.

    “Keystone Bank believes that business can and should be an effective steward of our planet as well as a force for good in society at the same time a generator of wealth for shareholders and stakeholders.

    “We recognise that the success of our business, and the sustainability and survival of our planet are tightly aligned with the Principles for Responsible Banking.

    “As industry leaders we are committed to implementing the Principles for Responsible Banking in our business and practices and to being an effective ambassador for these principles with others in our industry and beyond.”

  • Makinde, ALGON trade words over council funds

    The Oyo State chapter of the Association of Local Governments of Nigeria (ALGON) has faulted Governor Seyi Makinde’s claims that the judgment restraining him and the House of Assembly from sacking the council chairmen and members of the Board of the Oyo State Independent Electoral Commission (OYSIEC) has been vacated.

    Makinde had stated on Southwest Political Circuit, a political interview programme on Ibadan-based Fresh FM at the weekend that the judgment has been vacated.

    He spoke through his Special Adviser on Legislative Matters, Hon. Samuel Adejumobi (aka Agbara po).

    The judgment had restrained the governor and the House of Assembly from sacking the elected chairmen, conducting another election or tampering with the funds of the councils. But the chairmen were sacked two hours after the new governor was sworn in on May 29.

    Reacting to the claim on Sunday in a telephone chat with The Nation, ALGON Chairman, Hon. Ayodeji Abass-Aleshinloye, challenged Makinde to produce the evidence that the judgment had been vacated.

    He said the appeal filed against the judgment by the state government was still pending at the Court of Appeal, adding that the appellate court was yet to fix the date of hearing because the judges went on holiday.

    The ALGON boss challenged the state government to name the court that vacated the judgment and the date such decision was taken. He urged Makinde to stop deceiving the public over his alleged wrong steps, stressing that integrity should be the hallmark of a governor.

    Read Also: Makinde: my victory triumph of truth over falsehood 

    Makinde also said that his administration was not borrowing to pay staff of local governments and Local Council Development Areas as claimed by the ALGON chairman.

    He said council funds are intact but that the government was paying salaries from it without borrowing.

    Makinde said ALGON came out with the allegation of borrowing because it did not understand how his administration was handling the prompt payment of salaries which he accused the past administration of having inflated by about N1 billion shortly after the March 9 governorship election which it lost.

     

     

     

  • Ogun may establish two additional universities

    The Ogun State Government has revealed that it may establish two additional universities to address the agitation of the people of the Central and Western Senatorial districts respectively.

    The existing universities – Olabisi Onabanjo University, Ago – Iwoye, and Tai Solarin University of Education(TASUED), Ijagun- are located in Ogun East senatorial district.

    Governor Dapo Abiodun made this known at the weekend during a stakeholders forum in Abeokuta, the state capital, with the theme “Re-positioning education for outstanding performance.”

    Abiodun said he was aware of the demands of the two senatorial districts to have institutions of a university status, adding that this would be done gradually, taking the state’s financial position into consideration.

    “We have been able to settle the Moshood Abiola Polytechnic (MAPOLY) issue. It is a win – win for everybody. If the people of Ogun Central still want a University, they will have it and if the people of Ogun West say they want a university, university they will have. But we are going to take it one step at a time and also consider the financial position of the State,” he said.

    Read Also: Governor Abiodun’s ‘Oko Owo Dapo’

    The Governor, who described the State as the education capital of Nigeria, said more than 10 public and private universities and other tiers of tertiary education are running in the state, assuring that his administration was poised at reposition education in order for the State to regain its lost glory in the sector.

    “In the past, Ogun State’s position used to be in a digit, but now we are at the bottom five. This is unacceptable as the State is known to be first in every facets of our nation life. We cannot continue and we are doing everything possible to reverse the trend.

    “As you all know, during my inauguration on May 29, I declared an emergency in the education sector. We are following it up with the rehabilitation of 236 primary and secondary schools in each of our wards.

    “We set up Committees to resolve issues that affected smooth running of academic activities in some of our tertiary institutions.

    “The Committees have since submitted their reports and recommendations. I want to assure our good people that education which is one of our pillars, will continue to receive due and prompt attention,” the governor added.

    Abiodun, while assuring that teaching and learning conditions in public schools would be improved, added that teachers and non teaching staff would be trained and retrained in latest teaching methods and schools’ administration.

    He promised that their welfare would also remain paramount to ensure improved performance of students in both local and international examinations.

  • IBB charges the Igbos to promote Nigeria unity

    Former Military Head of State, General Ibrahim Badamasi Babangida (IBB) has charged the Igbos to work hard towards promoting the unity and indivisibility of Nigeria.

    He said that Nigerians, Igbos inclusive, should ensure they uphold the ideals of Nigeria’s founding fathers.

    Babangida stated this when he played host to the Igbo Delegates Assembly (IDA) from the 19 northern states and the Federal Capital Territory, Abuja who paid him a courtesy visit at his Uphill residence in Minna.

    He challenged the Igbos to continue to allow their positive impact to be felt amongst host ethnic nationalities in the country urging them to use their spirit of enterprise to promote peaceful co-existence among Nigerians.

    “An indivisible Nigeria is very necessary and we must do everything possible to remain as one family though we differ in tribes and tongue.

    READ ALSO: IBB hails Niger lawmakers on performance

    “The indivisibility of the country is not negotiable and this we must all promote at all times. The Igbos have done well to keep Nigeria together.”

    The delegation led by its President, Chief Chikezie Okezie and the Eze Igbo of Minna, Eze Pampas Ngozi Wahiwe had earlier told General Babangida that the purpose of the visit is to congratulate him on his 78th Birthday and prayed God to continue to grant him strength and wisdom to offer advice that would help Nigeria in solving its challenges.

  • Shock as ladies identify ‘one chance robber’ in public

    Police in Ogun state have arrested one Abiodun Makinde, a suspected ‘one chance’ robber upon being sighted and identified in public by two lady – victims.

    Makinde is believed to be a member of a one chance syndicate that that terrorise commuters along Sango/Owode Idiroko road, Ogun State.

    His arrest followed a distress call by his victims – Gloria Edoh and Saidat Akinola, who reported that they were attacked and robbed when they boarded a taxi from Owode to Sango, but on getting to Olokopupo area of Atan Ota, two men they met in the car, suddenly pulled knives with which they forced them to give up their belongings.

    The Police Public Realtions Officer, Abimbola Oyeyemi, who made this known in a release, stated that while the sum of N37,000 was snatched from one, N480,000 was also forcibly collected from the other by the gang as well as techno phones before shoving their victims off the taxi and sped away.

    Abimbola, a Deputy Superintendent of Police (DSP), added that the two ladies managed to find their way to a hospital for treatment of the injuries sustained but while leaving the hospital, they unexpectedly sighted and identified Makinde as one of the robbery suspects that robbed them and quickly raised an alarm.

    READ ALSO: One chance robbers nabbed for ‘attacking’ woman

    “The alarm they raised attracted the Divisional Police Officer, Atan Ota, Abiodun Salau; a Superintendent of Police(SP) who happened to be on patrol of the area with his men, hurried to the scene and arrested the suspect with help from members of the public.

    “On getting to the station, one woman (name withheld) who had earlier complained of similar incident also identified the suspect as one of the hoodlums who robbed and raped her on the 12th of September and made away with her pants.

    “The suspect has confessed participating in the two robbery incidents,” Abimbola stated.

    According to the Police Spokesman in the state, the Commissioner of Police, Bashir Makama, has directed that the suspect should be transferred to the Special Anti – Robbery Squad (SARS) for proper investigation.

  • Woman arrested for allegedly stealing two-month-old baby in Ekiti

    The Ekiti State Police Command, on Sunday, said it had arrested a woman who was alleged to have stolen a two-month-old baby boy in Ado-Ekiti, the state capital, on Friday.

    The police told newsmen in Ado-Ekiti that the 39-year-old Mercy Momoh was arrested at her residence in Odo area of the state capital by operatives of the command.

    NAN reports that Momoh, who hails from Edo State, was alleged to have stolen the baby from his mother, Mrs Funmilayo Sunday, on Friday, at the state government secretariat.

    She was said to have tricked the baby’s mother into following her to the secretariat under the guise of helping her influence the collection of some relief materials being given to flood victims by the state government.

    The suspect was said to have asked the baby’s mother to help her buy a recharge card and that she should drop her phone and leave the baby with her.

    Momoh was, however, alleged to have disappeared with the baby before the mother returned from the errand.

    The command’s Spokesman, Caleb Ikechukwu (DSP), said that investigations were still ongoing to unravel the circumstances behind the incident.

    “It is confirmed that the woman, who stole a two-month-old baby, has been arrested by the operatives of the Ekiti Police Command.

    Read Also: Five die, many injured in Ekiti road crash

    “The suspect is Mercy Momoh, a 39-yr-old lady from Edo State. She was apprehended through a tip off and will be prosecuted after the conclusion of investigations.

    “The suspect was apparently nice to the mother of the victim and that was why she was able to get the baby easily.

    “Investigations are still ongoing. More details will come on what really transpired.

    Ikechukwu called on members of the public to be careful in their relationship with strangers, adding that they should not get carried away by any act of kindness being shown by them.

    NAN

  • EPL: Liverpool beat Chelsea to maintain perfect start

    Liverpool retained their five-point lead at the top of the table as they became the first team to win their opening six Premier League games in successive seasons with a fiercely-fought victory over Chelsea at Stamford Bridge.

    Jurgen Klopp’s title pace-setters looked on course to win in comfort as Trent Alexander-Arnold’s magnificent free-kick and Roberto Firmino’s header gave them complete control at the interval.

    Chelsea, who had been denied an equalizer when Cesar Azpilicueta’s close-range effort was ruled out for offside by VAR, were in no mood to capitulate and made Liverpool fight every inch of the way to maintain that perfect record.

    Read Also: Free-scoring Liverpool make Premier League history

    Tammy Abraham had chances to increase his tally of seven goals this season, particularly when he was denied by Liverpool keeper Adrian when clean through in the first half, but it was left to N’Golo Kante to set up a grandstand finish with a superb strike with 19 minutes to play.

    Liverpool, however, held on, surviving missed chances from Michy Batshuayi and Mason Mount, to produce an instant response to Manchester City’s 8-0 win over Watford on Saturday.

    BBCSports