₦airaland Forum

A threat by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to shut down crude oil production this weekend in protest against the removal of fuel subsidy has pushed crude oil price up more than $2 to trade at $114.70 Thursday.

The industrial action by the organised labour and other civil society coalitions has not affected crude oil production but the threat by PENGASSAN and the increasing tension was enough to send panic to the international oil market as the country ships about 2.1 million barrels of crude oil per day and is a key supplier to the United States and Europe.

PENGASSAN said it would shut down oil and gas production from Sunday, though industry officials expressed doubts that unions would be able to stop crude exports completely.

“PENGASSAN shall be forced to go ahead and apply the bitter option of ordering the systematic shutting down of oil and gas production with effect from Sunday January 15 (2300 GMT on Saturday Jan. 14), if the Federal Government of Nigeria fails to yield to the popular agitation of Nigerians on her unacceptable approach to fuel subsidy removal,” PENGASSAN said.

Oil industry sources however doubted PENGASSAN would be able to stop crude exports completely because much of production is automated and the country has crude stored in reserves.

However, Reuters reported that worries over Nigerian oil supplies have pushed up global oil prices.


Brent crude futures for February jumped $2.88 to a high of $115.12, trading around $114.70 at 1500 GMT, while US crude oil was up about 1.87 per cent at $102.75.

Apart from the Nigerian crisis, the tension between Iran and the West also supported prices.
As Washington steps up efforts to punish Tehran over its nuclear programme, Japan and South Korea looked to reduce oil imports from Iran and seek alternative sources instead.

Japan, one of the biggest buyers of Iranian oil, pledged yesterday to take action to cut its Iran crude imports after US Treasury Secretary Timothy Geithner visited Tokyo to hold talks with Japanese leaders.

Washington imposed additional sanctions on Iran last month and the European Union (EU) will have a meeting on January 23 to decide on whether to embargo Iran's oil.


Tensions elsewhere in the Middle East also supported prices, traders said, as a Frenchman became the first foreign journalist to be killed in 10 months of unrest in Syria.

“You've got the same potentially bullish factors - Iran, Syria, and Nigeria - in the background. If it weren't for Iran, probably prices would be lower,” Reuters quoted Christopher Bellew, a broker at Jefferies Bache in London, as saying.


PENGASSAN handed down a 48-hour ultimatum to the Federal Government to reverse the price of petrol to N65 per litre.

PENGASSAN President, Comrade Babatunde Ogun, who gave the notice at a press conference Thursday in Lagos, said the shutdown of oil and gas production would be systematic, adding that the union was mindful of the overall effect a total shutdown would have on the nation’s economy.


Ogun, while admitting that shutting down oil and gas installations would result in colossal loss to the nation, said the union was constrained to fully comply with the directive from the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) to go on an indefinite strike.

According to him, it is a bitter option but PENGASSAN remains committed to the ongoing nationwide protests and will continue to work with every concerned Nigerian group to sustain the struggle until government respects the sovereign will of the people.
He explained that the action of the association became necessary following the unhealthy condition in which members operating on the oil field were being subjected to and insisted that all policy and institutional issues including the enactment of the Petroleum Industry Bill (PIB) as condition precedent to deregulation must be given earnest attention.


“There is no emergency attention for our members that are working on the field who have run out of food, medical facilities and other emergency measures. Our members are by this situation being exposed to series of unsafe acts which is unacceptable by our industry health, safety and environment policy,” he added.

Beef already ran to Ghana, the chicken is on the run!

Sorry it has gotten to you quoting an unknown newspaper to ensure badluck pays your salary

[quote author=Rhino.5dm link=topic=829031.msg9805054#msg9805054 date=1324404364]This budget was prepared by Yar Adua, so all you ignorants criticizing GEJ should have rethink. Besides, Aso Rock is a community. Infact, that amount is too small for Nigerian president. How much Obama dey chop/day? How much be common 1 billion wey people dey cry for? Wretched Nigerians!![/quote]Shut up! thats about 2.7million a day that is ridiculous. . what are they eating even if its 10 cows a day. .You cant compare America to Nigeria, at least the poor still get food stamps, we have millions of people starving here barely able to get 2 square meals and you justify this wastefulness

Good initiative, looking forward to it reducing my travelling stress

‎​Just read this about Muammar Gaddafi's Leadership in Libya.
1.There was no electricity bill in Libya; electricity was free for all its citizens
2. There was no interest on loans, banks in Libya are state-owned and loans given to all its citizens at 0% interest by law
3. Home considered a human right in Libya –Gaddafi vowed that his parents would not get a house until everyone in Libya had a home. Gaddafi’s father has died while him, his wife and his mother are still living in a tent
4. All newly weds in Libya receive $60,000 Dinar (US$50,000) by the government to buy their first apartment so to help start up the family
5. Education and medical treatments are free in Libya. Before Gaddafi only 25% of Libyans are literate. Today the figure is 83%
6. Should Libyans want to take up farming career, they would receive farming land, a farming house, equipments, seeds and livestock to kick-start their farms –all for free
7. If Libyans cannot find the education or medical facilities they need in Libya, the government funds them to go abroad for it – not only free but they get US$2,300/mth accommodation and car allowance
8. In Libyan, if a Libyan buys a car, the government subsidized 50% of the price
9. The price of petrol in Libya is $0.14 (N22) per litre
10. Libya has no external debt and its reserves amount to $150 billion – now frozen globally
11. If a Libyan is unable to get employment after graduation the state would pay the average salary of the profession as if he or she is employed until employment is found.
12. A portion of Libyan oil sale is, credited directly to the bank accounts of all Libyan citizens
13. A mother who gave birth to a child receive US$5,000
14. 40 loaves of bread in Libya costs $ 0.15
15. 25% of Libyans have a university degree
16. Gaddafi carried out the world’s largest irrigation project, known as the Great Man-Made River project, to make water readily available throughout the desert country
So What's d Problem? The long rule?

Finally, there is a law regulating the relationship between property owners and their tenants in Lagos State.
Governor Babatunde Fashola gave his assent to the Tenancy Bill on Wednesday, thus giving a margin of relief to millions of Lagos tenants who daily carry the burdens created by landlords.

After suffering many setbacks occasioned by those against the passage of the Bill, notably the estate agents, the governor's assent was a long time coming.

The most combative section of the law, while presenting a "big relief" to prospective tenants, is tough on the landlords.

"It shall be unlawful for a landlord or his agent to demand or receive from a sitting tenant rent in excess of six (6) months (one year in the case of a new tenant) in respect of any premises," says the section of the law dealing with Advance rent.

Likewise, it is also unlawful for a sitting tenant to offer or pay rent in excess of six months, as it is for new tenants to offer or pay rent in excess of one year.

The state attorney general, Ade Ipaye said defaulters "shall be liable to a fine of N100,000 or three months imprisonment."

The law has many more interesting provisions like the prescription of a fine of N250,000 or six months imprisonment for forceful ejection. It also stated clearly the length of quit notice applicable to the different classes of tenants.

Mr Fashola acknowledged the government's social role of mass housing programme, saying his administration was not unaware of this and plans were underway for low-cost mortgage financed houses in the state.

He pleaded with "few privileged landlords to make some sacrifice to help the poor and less privileged members of the society".


"The issues at stake in the new laws are serious moral issues that require voluntary compliance rather than strict enforcement from government. The problem of corruption cannot be fought in the country with this kind of situation that requires a tenant to pay two or years rent in advance. How many employees get two years salaries in advance to make such payments? Does the landlord lose money if he collects his money as at when due?" Mr Fashola asked.

"It is important that the public know that we executive and the legislative too are to be affected by this law because many of us are property owners; I want to believe that this is a bill that demonstrates what all Lagosians want; we are a government of methods, when we see certain problem, we get to the challenge," he said.

According to Governor Fashola, landlords need not panic because the law also protects their interest by making it impossible for tenants to shirk their own responsibilities.

The law however exempted property owned by educational institutions for staff and students, residential promises provided for emergency shelter, property made available for rehabilitative or therapeutic treatment, and residential premises in a care or hospice, or mental health facility.

On service charges, the law said tenants will now be "entitled to a written account, at least, every six months, from the landlord or his agent on how such moneys were disbursed."

Also, under the new law, tenants will be able to sue for "unreasonable increase" in rent.

Read More: http://234next.com/csp/cms/sites/Next/Home/5739744-146/fashola_signs_tenancy_bill__.csp

Is it just me, or becomrich has been scarce lately,

hey buddy just checking up on you

The position of the Chief Economic Adviser is still vacant, a good person to fit into that position to me is Prof. Soludo

But will our President go with the able Prof

Since Senate is yet to confirm the new ministers we need to work together find a way to stop some individuals that won't make a difference to Nigerians.

Now is the time to prevent some of the individuals undergoing screening

This is not surprising. It is either the area boys around the airport have bn given some change or want some change just like they hail people from abroad. However the way we are handling corruption is unimagineable, some governors that have bn investigated for 4yrs are out of power and walking freely. The economy is not growing, yet keep hearing all these funny promises and believe it. Obasanjo himself has said the present government is not fighting corruption so what else. Nigeria needs urgent helpm

Another bomb blast swept under the carpet, keeps getting worse until it kills hundreds of pple before our government sees it as serious. RUBBISH!

I can't see what the issue is here, I only see people scared of change and afraid their country will be taken over by foreigners. The koreans have said after 3yrs the land, tech, will be handed over to the state.are they the UN to come and provide food for you they are investors did u see where this investment can provide up to 125,000jobs at the end of the 3yrs all we need to do is study their proposal which sounds very ok to me, than remain on the same position because of sentiment on land that most likely is not serving any major purpose now. Kudos fayemi!

It seems all along Bank-ole didn't want to spend the weekend at EFCC hence the reason he avoided going with them last friday, but eventually he will be spending at least 1wk with EFCC.

Is this really EFCC operatives and an accused persons relationship like?

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haha i laugh at Bank-ole The reason he didnt want to go was because he knows if EFCC carries you on a friday you dont get out until MONDAY. Smart dude doesnt want to be embarassed. .but not for long buddy

Stealing is a crime, you should have known that as a lawmaker

@poster
You are talking to people that can't see above their nose . . .nice research @post

Why all the excitement, its the same President we had yesterday, 3months ago, 1yr ago. . .he just got a 4yrs extension so what

@poster,
If your title was states first ladies will make more sense, this nigerian first ladies doesn't make any sense to me. Learn to be corrected, and not wallow in your 'smartness'

I'm sure it can't be more than 50-100m

Barely 24 hours to the inauguration of Senator Ibikunle Amosun as the new governor of Ogun State, out-going governor, Otunba Gbenga Daniel Friday night travelled to London, fuelling speculation that he may have fled to avert arrest for alleged corruption.
Daniel left aboard a British Airways flight to London. A British Airways official confirmed to THISDAY that Daniel was aboard the flight to the United Kingdom last night.

The trip, coming less than 24 hours to the swearing in of his successor is rather curious, given the controversy that has been trailing his administration, particularly as regard alleged corruption.
Daniel left when he still enjoys immunity from arrest as an incumbent governor. He loses the immunity by May 29 when his tenure expires.

A few days ago, he admitted that he left behind a debt of N49 billion.
In a move targeted at Daniel, some of the top officials that worked with him particularly the Director-General of the Bureau of Lands & Survey, Gbenga Ogunnoiki, had been under investigation for some time now by the Economic and Financial Crimes Commission.
Although EFCC officials declined comments Friday night on Daniel’s curious trip, they, however, admitted they had been discreetly investigating Daniel.
Daniel had lamented that despite his efforts at taking the state to a greater height, he was constrained to leave behind N49, 232,597,163.67 debts.

He stated this while receiving a compendium of financial statements of the state from 2003 to 2010 as well as the government’s cash flow from January to March 31, 2011, from the state Accountant-General (AG), Mr. Seye Senfuye.
The ceremony was a valedictory State Executive Council (SEC) meeting held at the Governor’s Office, Abeokuta Friday.
According to him, his administration had done what was expected of it in terms of infrastructural and human capital development.
The financial statements showed that the state government owed N49, 232,597,163.67 as at March 31, 2011, including cash-based liabilities of N26, 453,260,717.13 and contingent liabilities at N22, 779,336,446.54.
Daniel, who said his administration had done its best, lamented that his efforts were thwarted by what he described as insensitivity and un-cooperative attitude of some members of the state House of Assembly. The Assembly members, according to Daniel, failed to approve his moves to access bond from the capital market.

Daniel commended the AG and his team for working tirelessly to publish the state’s statements of accounts and challenged them to distribute the public document to all agencies and parastatals including EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and several others

Read More: http://www.thisdaylive.com/articles/24-hours-to-handover-ogd-in-dramatic-flight-to-london/92186/

THE Economic and Financial Crimes Commission (EFCC) has summoned the outgoing Speaker of the House of Representatives, Honourable Dimeji Bankole, to appear before an investigative panel over the N10 billion loan rocking the House.

Sources in Abuja told the Nigerian Tribune that the EFCC, in a letter signed by the head of operations on behalf of the commission’s chairman, Mrs Farida Waziri, asked Bankole to appear before the investigative panel probing the alleged loan, which pitted honourable members against Bankole on their resumption on May 3.

Some members of the House had threatened to impeach Bankole on account of the N10 billion loan which stalled the payment of allowances of Rep members for the last quarter in the outgoing session.

Sources in the National Assembly told the Nigerian Tribune that Bankole was being investigated in respect of a petition sent to the EFCC by a group which complained that the country was being shortchanged over the alleged loan obtained by the House of Representatives under Bankole.

It was gathered that the letter summoning Bankole asked him to appear on Thursday (tomorrow) by 10.00 a.m.

Said the source: “Basically, the summon extended to Bankole has to do with a petition brought to the commission about two weeks ago over the N10 billion loan. The commission wants to get to the root of this matter and that is why a panel has been set up to question him.”

Another petition by workers of the Nigerian Telecommunications Plc (NITEL) has also linked Bankole’s father, Chief Alani Bankole, with what they called illegal purchase of the NET building, Lagos.

It was gathered that NITEL staff petitioned the EFCC some weeks ago, asking it to probe the source of the N4 billion used by Alani Bankole to buy NITEL House, Lagos.

“It (Bankole’s invitation before the EFCC) is aimed at straightening the issues contained in the petitions. The EFCC is being asked to determine the source of funds used by Chief Alani Bankole to buy the NITEL House in Lagos and the source of the N10 billion loan said to have been obtained by Honourable Bankole on behalf of the House of Representatives.

Read More: http://tribune.com.ng/index.php/front-page-news/22493-n10bn-loan-efcc-summons-bankole-for-questioning

@Dolemite

Stretch your hands out, look at your hands.go out and take a look at your car. Everything has to be created by someone. Your car was made by man, you were made by God

My advice to you is since you believe you could be created by a super chicken, that's a good start, don't you feel you should show some respect to whoever the superchicken is. Don't you feel you should know why the superchicken created you (destiny)

You need to seat and find your superchicken - christianity, islam, anything, but there is a God my friend, don't wait till judgement day before you confirm, you have more to lose then.

God help you see the truth

Dolemite:
There is no god so what are they talking about? oooh, um. . .im sorry. . .there IS a god, and he wants you to donate ALL your worldly possessions to me, you can't take that with you. . .

Simple question for you. .How do you think you were created?? and everything else you see?

let me guess by evolution

Not unexpectedly, names of former and outgoing governors have dominated lists of ministerial nominees sent by the state chapters of the ruling Peoples Democratic Party (PDP) to the national secretariat, THISDAY checks have revealed.
This follows the directive of the National Working Committee (NWC) of the PDP which last week wrote to its 36 state chapters and the Federal Capital Territory (FCT) to each submit three names to be considered as ministers and seven others for special advisers and other federal appointments in the in-coming government.


Apart from the former and outgoing governors, checks revealed that the list is also populated by state party executives, candidates who lost in their bids to secure people’s mandates during the April elections as well as top party supporters.
On the list of Kaduna State obtained by THISDAY, former governor Ahmed Makarfi leads eight other politicians whose names have been submitted to Abuja. They are Suleiman Uthman Hunkuyi, state party chairman Ya'u Usman, Abdulkadir Jibrin, Hajiya Mairo Habibi, former Deputy Governor of Kaduna State James Bawa Magaji, Mr. Hassan Hyat, Mrs. Charity Shekari and Hamisu Abubakar Mairago.


As at the time of filing this report, the name of the 10th person was being debated, but THISDAY learnt that either Senator Isaiah Balat or Architect Nuhu Wya, the current Minister of State for Power, would have his name forwarded.
In Oyo State, though the full list could not be ascertained at the time of going to press, the names of outgoing governor Adebayo Alao-Akala and his deputy Taofeeq Arapaja have both made the list. They are joined by Jumoke Akinjide and Senator Kamoru Adedibu.


For Zamfara State, outgoing Governor Mahmud Aliyu Shinkafi who also lost in his re-election bid, leads other party stalwarts such as former Sokoto Governor Malam Yahaya Abdulkarim, state PDP secretary Musa Zubairu, Barrister Adamu Umar and Ambassador MZ Anka in the list.


Others are Senator Hassan Muhammed Gusau who lost in his bid to return to the senate, outgoing SSG Muhammad Bawa Gusau, chairman of Bakura local government council Malami Dambo, state commissioner of Works Ibrahim Ajiya Shinkafi and state commissioner of Education Ibrahim Danmaliki.
In Lagos State, the defeated PDP governorship candidate, Dr. Shamsudeen Ade Dosunmu, tops the list believed to have been drawn up by Chief Bode George.


Others on the list are Bode Oladele, a former aide to ex-President Olusegun Obasanjo, and senatorial candidates in the last elections W. Abainwonda (Lagos East), Tolagbe Animashaun (Lagos Central) and Moshood Salvado (Lagos West).
The state party chairman, Kosedo Setonji, secretary O Shelly and former Lagos State commissioner, Dr. Segun Ogundimu also made the list, in addition to Owolabi Salis, a former governorship aspirant.


The name of Senator Musiliu Obanikoro, Nigeria’s High Commissioner to Ghana, is conspicuously missing from the list.
However, some of the nominees may be in for a shocker as President Goodluck Jonathan is said to have indicated that he would want seasoned technocrats to hold key positions in his next cabinet.
THISDAY had reported last week that Jonathan was planning a leaner cabinet by limiting ministerial appointments to the minimum of 36 prescribed by the Constitution.

9jaganja:
Hausas will vote anything Hausa, , Now I see it is a North VS South Issue for this people. I also see trouble if they don't win, They will cry sharia again,

look at you, have you thought why ACN won SW in the NASS and after fielding a Hausa man (Ribadu) a party with a southerner is winning all their votes.

works same way everywhere stop pointing fingers

did u have 24hrs last week. .dem give u food you chop am thinking another one will come tomorrow.

if he has anything to do with your 24hrs light, dont you see it as abnormal and a bribe on the eve of an election

in 2015 wat would you want from santa for your vote?

BB is clearing 90% of the North

this is going to be a tight race

BB supporters even tho in the south CPC was not voted much, we still got 30% of the votes here and about 90% of the votes in the North.

Matter of hours the whole country will be surprised how BB will form the next government in this country

why should you think because thieves did not win, the NASS election is not credible, cant you see how transparent the elections was. My friend for your information Mark won his seat back

Tadeus:
You misunderstand me, I was just surprised about the result, with their performance while they are at office, none of them make it back to the office. Even the daughter of great politician in Nigerian succeeded in loosing the election.



Can we say that NAS election is free and fair, ?

you are a F.O.O.L

CHANGE is here!

everywhere ACN is winning PDP in the elections, my prediction is we have a controlled NASS

with this Ribadu might be the next President also