|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,316,004 members, 5,103,492 topics. Date: Monday, 19 August 2019 at 10:59 AM
|Politics / Buhari To Sell Nigerian Government NLNG Shares To UAE Buisnessmen. by Symphony007: 10:12pm On Aug 29, 2016|
EXCLUSIVE: Buhari planning to sell NLNG, stake in JVCs to Arab businessmen from UAE
At his wits end over how to raise money and keep the Nigerian economy from collapsing completely, President Muhammadu Buhari is about concluding plans to sell off prized national assets to investors form the Middle East.
Nigerian Times learnt from a highly placed source in the Presidency that the government has been in talks with businessmen form Dubai and Qatar over the sale of its entire 49 percent stake in the Nigeria Liquified Natural Gas Limited.
The deal, this paper learnt, is being brokered by an influential governor from the northern part of the country. Discussions have been on for some time now but our source said the deal would have been wrapped up by now but for the insistence by the businessmen that the Nigerian government provide cast-iron guarantee that their investment would be safe given the restiveness in the Niger Delta region where the assets are based.
“The bombing of oil facilities by the Avengers is a sticking point. The investors do not want to spend billions acquiring the company only to have it go up in flames. They are asking the president to provide assurance that
facilities belonging to the company will continue to be protected by government after they have sealed the deal,” our source said.
President Buhari is said to have given them his word that their investments would be well secured by security agencies, informing them that his government is also exploring a peaceful resolution of the Niger Delta problem.
Aside the NLNG, this paper learnt, President Buhari is also considering divesting 10 per of its stake in the Joint Venture Companies as a way of raising money.
The NLNG was incorporated as a limited liability company on May 17, 1989 to harness Nigeria’s vast natural gas resources and produce Liquefied Natural Gas (LNG) and Natural Gas Liquids (NGLs) for export.
The establishment of NLNG is backed by the NLNG Act.
The company is owned by four shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%); Shell (25.6%); Total LNG Nigeria Ltd (15%) and Eni (10.4%).
It has wholly–owned subsidiaries: Bonny Gas Transport (BGT) Limited and NLNG Ship Management Limited (NSML).
With six trains currently operational, NLNG’s plant, on Bonny Island in Rivers State, is capable of producing 22 Million Tonnes Per Annum (MTPA) of LNG, and 5 MTPA of NGLs (LPG and Condensate) from 3.5 Billion (standard) cubic feet per day (Bcf/d) of natural gas intake. NLNG’s near term expansion plans include construction of a seventh train to complement the existing six train structure, which when in operation will up the company’s total production capacity to 30 million tonnes per annum (MTPA) of LNG.
As the arrowhead of Nigeria’s efforts to eliminate gas flaring, NLNG’s operations have helped reduce Nigeria’s Flaring Profile from 65% to below 25%. The company also supplies about 80% of the annual domestic LPG (Cooking Gas) consumption.
EXCLUSIVE: Buhari planning to sell NLNG, stake in JVCs to Arab businessmen from UAE | The Nigerian Times
|Crime / Re: Police Excavate Oil Discovered At Wells In Residential Areas In Ilasamaja Lagos by Symphony007: 12:59pm On Aug 25, 2016|
So this is the new normal! Residential refineries? But the media will obfuscate this an foreground niger delta youths as the only oil bunkers in nigeria.
|Politics / Re: Wike Kissing His Wife At FIDA Award Event (Photos) by Symphony007: 12:54pm On Aug 25, 2016|
whiteeyes:it's not a joke! This utterly shambolic stereotype of drunken niger deltans is rife in some parts if this country and if left unchecked will continue to fester and affect young people of that extraction where ever they go. Do you think the "drunken fisherman" insult perpetuated on goodluck jonathan was just a random jab? It was a clear case of lexical specificity with roots in his ethnicity!
|Politics / Re: Wike Kissing His Wife At FIDA Award Event (Photos) by Symphony007: 12:27pm On Aug 25, 2016|
adekayo1234:cut the crap and stop all this stereotypical and tribalistic bullshit! What was the aim of your comment other than insulting and demeaning a whole tribe of people and all this from a harmless topic that is totally unrelated to you vitriol.
|Literature/Writing Ads / Re: Ask for any of John Grisham Novels, Some From Dan Brown & Sidney Sheldon. by Symphony007: 10:13pm On Jul 12, 2016|
Osmondinho:I'm very pleased to hear that! Were is ur location?
|Food / Re: I Bought The Fake Milo Going Around Nigerian Markets(pics) by Symphony007: 9:35am On Jul 11, 2016|
stefanweeks:it smelt like charcoal mixed with sugar, and it never dissolved but instead became very lumpy. I've been drinking milo since I was a child so I know what it is..
|Food / Re: I Bought The Fake Milo Going Around Nigerian Markets(pics) by Symphony007: 8:37am On Jul 11, 2016|
ify2016:what is this one talking?
|Food / I Bought The Fake Milo Going Around Nigerian Markets(pics) by Symphony007: 8:05am On Jul 11, 2016|
Just a few days after watching a video on Nairaland where some crooks were packing adulterated milo beverage for onward transportation for sale in Nigerian markets, this is the milo I bought and almost drank yesterday... my advice is that until the authorities get an handle on this scourge, you start patronising malls and reputable stores for your beverages to protect your families...
|Education / Re: UNIMAID Graduates 172 First-class Students by Symphony007: 10:34am On Apr 17, 2016|
What a joke!
|Events / Re: Funeral Vs Wedding: Which Is More Expensive?? by Symphony007: 6:49pm On Apr 03, 2016|
|Jokes Etc / Pres.buhari's April Fools Joke On Jonathan(pic). by Symphony007: 1:34pm On Apr 02, 2016|
|Politics / Re: President Buhari At The Opening Plenary Nuclear Security (pics) by Symphony007: 8:59pm On Apr 01, 2016|
Belgian prime minister is not there because he is still in solidarity with his country after they were attacked over a week ago. This old man's country is on fire and he is seated with other leaders of stable nation moping..do you think any of them will be there if they had a pressing challenge in their nation? Failed leader!!!
|Politics / Re: Remember “america Will Know”?, Kerry Said It To Buhari Over $bn Loot Claims by Symphony007: 1:54pm On Apr 01, 2016|
ddippset:the brain rot that comes with defending the indefensible.
|Politics / Re: President Buhari With John Kerry In The US (Photos) by Symphony007: 7:31am On Apr 01, 2016|
This is the equivalent of obama paying a visit to nigeria and we send the foreign minister to have bilateral talks with him...it's sad! Mr president, we need you in the country solving issues that threaten us like we have not seen in a while, the prime minister of Belgium is skipping this summit and sending a minister because he is still handling issues more than a week after a bombing in his country! People are dying everyday in your country and suffering is wide spread and growing yet you travel to where you are not even needed or consequential! ...have some shame and dignity.
|Politics / Re: I Never Said Fuel Scarcity Will End By April 7th - Kachikwu by Symphony007: 7:27am On Apr 01, 2016|
NNPC is still a mess and even a bigger one under he that says he would overhaul it like a magician...africa's largest state owned oil company cannot solve a petrol crisis within it's borders, then how can it solve bigger issues like refining petrol within our borders, and even grow to a point of competing with companies like gasprom?...nigeria, the same today, tomorrow and forever...
23 Likes 2 Shares
|Politics / Re: CBN Governor Highlights Whats Wrong With The Nigeria Economy - A Must Read by Symphony007: 7:23am On Apr 01, 2016|
What is wrong with the Nigerian economy is the lack of coherence and masterplan from the leadership since April 2015 which is driving away foreign investors, making local ones sit on their cash, which like a domino has affected every other area of our economic web. There was just no plan for a transition, when you turn tea in a cup to the right for a length of time overtime all momentum goes to the right, if there is a sudden switch to the left, their will be a tempest in the teacup and some will still but over time, things will return to normal and all momentum shifts to the left, muhammadu buhari spilled the tea and still does'nt know how to clean it up...
|Politics / Re: A Picture Is Worth A Thousand Words by Symphony007: 7:11am On Apr 01, 2016|
Sadly, this is just the start of the suffering installed for nigeria, because any blind man can see the unseriousness and lack of urgency in government as the country moves from crises to crises....the only heart warming sight in this catastrophe will be the gnashing of teeth from the drivers of our economy in the board rooms of lagos who pontificated about the cluelessness of the "fisherman from the Niger delta", well, they better revise their dictionary cause cluelessness just got a new meaning! By the way, I see prof. Tam David west is now a mute! Stay tuned....
|Politics / Re: Building Nigeria, Not An Overnight Operation, US Tells Buhari by Symphony007: 7:04am On Apr 01, 2016|
The United States does not care about nigeria or the well bring if her citizens, they only care about the continued sustainance of their stooge muhammadu buhari who they help put to office and to make sure he never looks east for a warm hug like Goodluck jonathan did which made him persona non grata.
|Politics / Re: Bodies Of 3 Boys Allegedly Killed By Naval Officers In Arepo Discovered, Communi by Symphony007: 5:18pm On Mar 31, 2016|
Consider this the first and last time you'll hear of this issue. There will no investigation, enquires or questions asked..that is the failed state we live in.
1 Like 1 Share
|Politics / Re: Nigerian Beans To Be Allowed Into Europe by Symphony007: 5:15pm On Mar 31, 2016|
Useless lie! Nigeria has been exporting beans to Europe since but it was stopped as the EU food agency found that the beans contained too much pesticides and did not meet standards, but now the ban has been lifted after Nigerian authorities reverted back to the old standard of exports....stupid lies to justify the ineptitude and frivolous travels of this president.
263 Likes 30 Shares
|Politics / Re: Yussuf Buhari Pictured With A Friend by Symphony007: 2:27pm On Feb 23, 2016|
And he is chilling inside a private jet! So much for our austerity and frugal president!
26 Likes 4 Shares
|Politics / Another Buhari Lie(pics) by Symphony007: 5:23pm On Feb 05, 2016|
Buhari bans his wife and family members from using aircraft in the presidential fleet
Friday, 24 July 2015 10:59
PRESIDENT Muhammadu Buhari has barred his wife and the members of his family from using the aircraft in the presidential fleet as part of an ongoing campaign to cut down of government spending at to arrest abuse of public facilities.
Elected on a promise to fight graft in public life and combat the growing menace of nepotism and abuse of office, President Buhari has been cutting perks for officials. When he travels abroad, he uses a much smaller entourage than was previously the case and those not officially invited are made to pay their own flight costs and clear their hotel bills.
Taking this campaign a step further, President Buhari has insisted that his wife Hadjiya Aisha Buhari and his children use commercial flights when travelling. Members of President Buhari's family will now use commercial flight, unless it becomes compelling for them to fly in a presidential aircraft.
Earlier this month, the president made sure that when his wife and three children performed the lesser hajj to Mecca, they used Emirates Airlines to make the trip. It is believed that the president is worried about security reports on the high cost of maintaining the presidential aircraft and the abuse of the privilege by some highly-placed Nigerians.
During the administration of President Goodluck Jonathan, about N9.08bn (£29m) was spent yearly to maintain the 10 aircraft in the Presidential Air Fleet. Members of President Jonathan's family and his close associates regularly used the aircraft in the fleet for routine trips that could have been made using commercial flights.
One presidency source said: “President Buhari has adopted a strict policy on the use of presidential aircraft in order to save cost. His wife and relations have been restricted from the use of the aircraft in the presidential fleet.
“A situation where the aircraft were used anyhow by some friends and associates of the president during the administration of ex-President Goodluck Jonathan can no longer be applicable in this dispensation. For example, the wife of the president, Hadjiya Aisha Buhari and three children travelled for the lesser hajj in Saudi Arabia on Emirates Airlines."
He added that President Buhari is determined to ensure the judicious use of the presidential aircraft to save costs. In addition, President Buhari is also setting a new template for governance and may use commercial flights for some of his own trips.
Another source added: “Do you know that it costs about N747m (£2.4m) to fuel the aircraft in the presidential fleet per annum. President Buhari said his administration cannot afford such a luxury.
“US President, Barrack Obama uses only two Boeing jets and one helicopter, so Buhari is determined to cut costs. In any case, he lives an austere life and if he can ask his wife to fly a commercial jet, then other public officers must emulate his standard.”
It was not yet clear if the president will sell some of the aircraft in the Presidential Air Fleet as being speculated. Nigeria's presidential fleet has more aircraft than most airlines in the country, second in size only to the nation's largest carrier Arik Air.
Buhari bans his wife and family members from using aircraft in the presidential fleet
|Politics / Re: Rotimi Amaechi Submitting Himself To Security Checks By Arik Air - Photos by Symphony007: 8:13am On Jan 06, 2016|
He is not fooling the average Nigerian, he is fooling his fellow brainless APC robots. Flew into port harcourt on a private jet, pic went online and condemnation pour in and all of a sudden you are leaving on a commercial jet and magically the pictures appears online. Government of propaganda, by propaganda for propaganda.
10 Likes 2 Shares
|Politics / Re: Wike Swears In Daisy Wotube-okocha As Chief-judge Of Rivers (photos) by Symphony007: 3:03pm On Jan 04, 2016|
Emperor chibuike ameachi as imperial governor of rivers state shut down the rivers state judiciary and disrupted the state all in a bid to play politics and deny this woman what is due her. Thank God she is getting it today, let him come from abuja and stop it. Minister my foot!
10 Likes 1 Share
|Politics / Re: Wike Is Working, Bulldozer Seen On Woji Road, Port Harcourt by Symphony007: 6:14pm On Dec 30, 2015|
drshrewd:true rivers indigene for where? APC political jobber and hack like you! looking at your topic history just sells you out, but too bad after the rerun, you'll loose your source of livelihood.
|Politics / Re: Wike Introduces Security Stipends To Traditional Rulers by Symphony007: 3:33pm On Dec 30, 2015|
In as much as I don't see the need for this money as it can be put into better use, I commend the governor for the great respect and defrence he has shown to royal fathers in rivers state since he entered office, unlike one bald idiot before him who's priority was insulting traditional rulers old enough to be his father because they did not support his attempts to sell the state over to this western and Northern masters.
|Politics / Re: Wike Is Working, Bulldozer Seen On Woji Road, Port Harcourt by Symphony007: 3:24pm On Dec 30, 2015|
Even the most disingenuous APC supporter will admit in his heart that wike has worked tremendously in his short time in office but crass idiocy and career politicking will not allow them say it, but it does'nt matter because the average open minded rivers resident sees it and they will decide if he stays in office! THEY! Not tinubu, Ameachi, the hausa political complex or the yoruba media complex. Period!!
|Politics / Re: Crowd At Port-Harcourt Airport To Welcome Wike From Abuja (Photos) by Symphony007: 1:49pm On Dec 28, 2015|
searchiing4love:no problem man! Was just interested in the eckankar pic you posted on a thread.
|Politics / Re: Crowd At Port-Harcourt Airport To Welcome Wike From Abuja (Photos) by Symphony007: 6:22pm On Dec 17, 2015|
Whenever the rerun election is held, rivers people will show tinubu and his cronies, just like bayelsa did that their APC madness stops at the benin-ore road.
57 Likes 4 Shares
|Politics / Re: I Have Inspired Many African Leaders —tinubu by Symphony007: 6:30am On Dec 04, 2015|
Halitosis(mouth odour) infested kleptomaniac fool say what?
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2019 Oluwaseun Osewa. All rights reserved. See How To Advertise. 142