Tag: Offshore

  • TEE A take Jokes Offshore

    TEE A take Jokes Offshore

    After a series of concerts in Lagos and Abuja, top Nigerian standup comedian, Tee A, is now warming up for a global show, with the announcement of big budget concerts in three cities across two continents.

    It’s a new season for the comedian, who is set to rebound with a tour of London, Johannesburg and Accra this summer.

    Anchored on his television magazine show, Tyme Out with Tee A, the road-show, according to the artiste, becomes necessary due to popular demand.

    “We are going round to deliver the live edition concerts to our fans in Africa, Europe and elsewhere. The demand has been crazy and I’m glad we can now take the show to the passionate fans who have been asking.”

    “The success of past editions makes this even more exciting as the concert tour, for the first time, is moving to London, Johannesburg and Accra. Guests should expect a unique tour comprising live personality interviews, rib-cracking comedy sketches, musical performances and special guest appearances,” said the comedian.

    According to him, the scheduled tour will take place in the last quarter of the year, while details on the dates and venue in each city will be revealed in due course.

    Tyme Out with Tee-A is a two-time award winning family variety show which features celebrity interviews, comedy sketches, fun-based vox pop questions and personality mimicry. The show had featured celebrity guests such as D’Banj, Tiwa Savage, Shina Peters and Daddy Showkey, among others.

    Asides the tour, Tee A revealed a long list of celebrities who will grace the 4th edition of the variety show. They include legendary Afro-Juju artiste, King Sunny Ade, Omotola Jalade-Ekeinde, Ramsey Nouah, Funke Akindele, Yvonne Okoro, Juilet Ibrahim, Sean Tizzle and Toke Makinwa. He noted that previous segments such as Rave of the Moment featuring comedian MC Abbey and Celebrity Close Up with the hilarious Madam Princess will come up stronger in the new season of Tyme Out with Tee A.

  • ‘PIB’ll increase offshore opportunities’

    ‘PIB’ll increase offshore opportunities’

    The passage of fiscal and non-fiscal enablers in the the Petroleum Industry Bill (PIB) could add value to the economics of offshore investments, the Managing Director/Chief Executive Officer, Seplat Petroleum Development Company, Mr Austin Avuru, has said.

    He spoke during his presentation at the IP Week in London.

    Avuru, who spoke on “Petroleum Industry Bill: Increasing Investment Opportunities in the Offshore Nigeria,” said the non-passage of the bill was inimical to the industry’s progress.

    The PIB is supposed to help the oil industry in terms of restructuring the institutional and fiscal framework to promote transparency, efficiency, exploitation activities and maximise economic rent accruing to the government as it hopes to achieve 40 billion barrels of crude reserves and oil production of four million barrels per day by 2020.

    Avuru said foreign direct investment (FDI) to Nigeria dropped from $6 billion in 2009 to $2.3 billion in 2010 even though the “oil sector accounted for over 60 per cent of FDI inflow to Nigeria”.

    He also noted that signing the PIB has become imperative because of the emergence of other oil rich countries in Africa, a situation that has affected FDI inflow to Nigeria.

    Quoting the United Nations Conference on Trade and Development (UNCTAD), he said: “Between 1970 and 1990, Nigeria accounted for 30 per cent of FDI inflow in Africa, but only 16 per cent in 2007 due to emergence of other oil rich countries.”

    Aside from affecting FDI inflow, Avuru said the non-passage of the oil bill has had other adverse effects some of which include push back of “start-up dates for selected oil and natural gas projects, for instance, Bonga North and Sonam field development), to be undertaken by the international oil companies (IOCs), tremendous decline in exploration activities in the last seven years and the fact that only three exploratory wells were drilled in 2011 compared to over 20 wells drilled in 2005.”

    He, however, admitted that there had been some progress on the PIB, which has passed the Second Reading in the National Assembly.

    He noted that there were contentious issues stalling the passage some of which he identified as “power of the minister, the application of Petroleum Host Community Fund (PHCF), the funding of New Frontier Exploration Services and the onerous fiscal terms.”

    Avuru expressed optimism that the passage of the bill would help “decrease investors’ risk through a stable regulatory environment, redesign fiscal terms to maximise government take, provide significant opportunities in shallow offshore and deep water terrains while opening a window of opportunity to invest in a stable and commercially prospective oil and gas environment.”

  • Fed Govt places 31 onshore, offshore fields on offer

    Fed Govt places 31 onshore, offshore fields on offer

    For the first time after 12 years, the Federal Government began yesterday the process for the second marginal field licensing round, with 31 on-shore and off-shore fields on offer.

    Minister of Petroelum Resources, Mrs. Diezani Alison-Madueke, who broke the news to reporters in Abuja, also said the government would rehabilitate the four refineries before their privatisation in 2014.

    According to her, the government will conclude the bid process of the marginal field lisencing in the next four months.

    She encouraged indiginuos firms to form consortia to increase their capacity to win the fields, noting that Nigerian companies which have been operating marginal fields licensed in 2001 have done very well.

    Her words: “Over the next two weeks, the Department of Petroleum Resources (DPR) will undertake a road show to different parts of the country about the programme. This will be followed by three and half months of competitive bidding process in line with the Federal Government’s commitment to openness and transparency in the conduct of business activities in the country.

    “In carrying out the exercise, government is determined to ensure that proper technical and financial due diligence is done on companies indicating interest in these assets. In this regard, government encourages companies where possible to bid in consortia to enable the parties leverage upon each other’s strengths.

    Mrs. Alison-Madueke explained that government’s decision to hold the bid rounds is geared towards opening up the oil and gas sector of the industry to a wider participation, with a view to creating a robust and virile industry that will positively impact on the lives and living standards of Nigerians.

    On government’s plan to sell the refineries, she said government wants to rehabilitate them to ensure that it gets some commercial value from the sales.

    “We are moving for the privatisation of the refineries in the first quarter of 2014. At this point in time, the negotiation round for the turnaround maintenance of the Port Harcourt Refinery is now completed.

    She explained that government’s intention was to engage the original contractors that built the Port Harcourt refinery with the TAM, but regreted that negotiations have extremely been a long drawn out one because of the prices they are offering.

  • CIBN seeks offshore practice

    The Chartered Institute of Bankers of Nigeria (CIBN) has reiterated the need for certified bankers in the country to work in other African countries.

    In a statement, the institute said a communique issued at the end of its Annual General Meeting (AGM) called for an inter-country recognition and acceptance of qualifications and certificates of member countries. This, it said, would encourage and promote mobility of labour as well as skills among banks in the continent.

    It stressed the need for the Alliance of African Institute of Bankers (AAIOB) member institutions to participate in the establishment, programmes and activities of the Global Banking Education Standards Board (GBESB), expected to be launched at the World Conference of Banking Institutes (WCBI) scheduled for Nairobi, Kenya in June, this year.

    It stated that the alliance would periodically conduct professional examination moderation exercises to strengthen examination policies, regulations, curricula and practices with a view to ensuring that quality standards and improvement in candidates’ performance are maintained and adhered to, at all times.

    According to the alliance, “a smooth implementation of the Staff Exchange Programme (SEP), which is aimed at, among other things, to enhance cross fertilisation of skills, bonding, mentoring among member Institutes’ personnel would be vigorously pursued”.

     

  • Onshore/Offshore dichotomy: Northern elders slam Adoke

    Onshore/Offshore dichotomy: Northern elders slam Adoke

    Northern elders are angry with the Attorney General of the Federation and Minister of Justice, Mr. Mohammed  Adoke, for declaring  the debate on the onshore/offshore oil dichotomy as closed.
     The Northern Elders Forum (NEF) yesterday said the Attorney General has no right whatsoever to say Nigerians cannot debate any issue of interest to them.
    “Who is he to say that the debate on onshore/offshore dichotomy is closed? Who is he to say that the debate on onshore/offshore dichotomy is closed? By who?” spokesman for the NEF, Prof. Ango Abdullahi fumed yesterday in Abuja in a reaction to the minister’s statement.
    Speaking at the  valedictory session in honour of retiring Justice Francis Tabai of the Supreme Court on Thursday, Adoke had warned the public to avoid overheating the polity through re-opening the debate on the onshore/offshore oil dichotomy in the allocation of revenue.
    But speaking to reporters on the sideline of the inaugural session of the Constitution Review Committee set up by the NEF in Abuja, Prof. Abdullahi lashed out at the minister: “Is he saying that Nigerians have no right to speak on issues which onshore/offshore dichotomy is, for him to say that the debate is closed? On what grounds?
    “It sounds stupid to me. It is a matter of continuous discussion and debate. He has no right to say that the matter is closed.”
    On the forum’s Constitution Review and Political Committees, the former  Presidential Adviser on Agriculture said the North is looking primarily at resource control, sovereign national conference and onshore/offshore dichotomy.
    He said: “Primarily, the issues the North is looking at are  resource control,  sovereign national conference as advocated and then  onshore/offshore dichotomy. These are on the front burner of the constitution review. And the legal think tank here would review those positions and know how the North would approach it.”
    On the 2015 presidential election, he said: “For us here, primarily we are involved first in securing the unity of our people. If our people are not safe and are not secured, 2015 will not make any meaning to us in this group because we believe that a united North will now be able to talk politics with sense.
    “We are already bedevilled by a lot of crises, security challenges, unemployment and poverty.  So with all these ones, I don’t think we have the luxury to be discussing 2015 for now at this level. We believe that if we are organised and united, we may be able to know where the balance stands in 2015.
    “The question is that the issue of politics as we understand it, particularly when it comes to elections, there are rules for elections and the elections will be contested on the basis of rules. So, let it be. And that is what it will be in 2015.
    He noted that the political committee set up by the NEF “is supposed to look at the politics of Nigeria and see how the North will fit into it or how Nigeria will fit into it in 2015.”
     On agitation for state police, he said: “The agitation for state police already has gathered momentum and it is clear that there are certain past leaders of this country that already are championing it. Most of the southern governors are pro-state police and majority of our governors here are not disposed to state police.
    “For us in the committee here, we are going to weigh the propriety of that vis-a-vis national interest. In fact, at the inaugural speech here, the chairman insisted that the North must not do anything that will be unjust to anybody living in Nigeria. We believe in the unity of this country.”
    He added: “To me personally again, the issue of zoning should be thrown away. Contest should be open, and so be it. The question of allocation of positions based on certain region should be thrown away and let people be free to contest.”
    He described the practice of the presidential system in Nigeria as expensive, but he did not say whether the NEF would be calling for a change of the system during the on-going constitution review process.
     “As a group, we feel that we have embarked on a change that has brought disaster to Nigeria. The presidential system of government is a major disaster to Nigerians,” he said, adding: ”I have never seen governance as expensive as what we have on ground today, and even if we are copying the presidential system from the United States, we are bad copiers of the system that operates in the United States today.
    “For example, a senator in Nigeria earns $1.5 million while the President of the United States earns $400,000 a year. So, something must be wrong in the manner in which we understand the presidential system of government, especially if we are copying from the United States.
    “But talking about cost of governance from the little project I am trying to undertake now, I have reached a stage where I can pronounce that the cost of governance under the presidential system that we have is three to four times more than the parliamentary system which we threw away in 1979.”
    Those who attended the meeting included the Convener, Alhaji Yusuf Maitama Sule; Chairman of the session, Paul Unongo; Ustaz Yunus Usman, SAN; Alhaji Bashir Dalhatu; Senator John Wash Pam; Air Marshal Al-amin Daggash; Alhaji Lawal  Yusufari; Barr. Ibrahim Umar; Barr. Salmanu Rilwanu; Barr. Abdulfatah Bello and Barr. Solomon Dalong.
    Others were Barr. Mustapha Bashir Wali; Barr. Simon Orkuma; Gen. Paul Tarfa (rtd); Alhaji Sanni Zango Daura; Barr. R.O. Yusuf; Barr Usman Abashiya; Barr Muhammed Sani Katu; Barr. Moses Tagifek; Kalli Gazali; Capt. Paul Thaha’al and Barr Muslim Maigari.