Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,154,081 members, 7,821,719 topics. Date: Wednesday, 08 May 2024 at 05:12 PM

Tcruz's Posts

Nairaland Forum / Tcruz's Profile / Tcruz's Posts

(1) (2) (3) (of 3 pages)

Business / Ghana Loses $200m In Downstream Petroleum Revenue Annually by tcruz: 1:18am On Jan 22, 2020
The government of Ghana has lamented that illicit activities in the downstream petroleum sector is weighing heavily on the country’s economy, and that the country loses over $200million annually in tax revenue.

Vice President, Dr Mahamudu Bawumia, told Ghanaian Times that the illicit activities, which comes in the form of illegal bunkering, smuggling of petroleum products, and dumping of products meant for export on the local market, has become a source of great concern to the government.

“These activities constitute an emerging threat which impact negatively on our maritime security as well as the nation’s efforts in mobilising tax revenue from the sale of petroleum products,” the vice president. Dr Bawumia said the dynamics of the illicit activities in the petroleum downstream industry required a multi-pronged solution to ensure sanity in the industry, and charged the National Petroleum Authority (NPA) to enhance and sustain the already irritated technological interventions to arrest the situation.

He informed that to stem the tide, the Ghanaian government is commissioning a National Command Centre for Electronic Cargo Tracking System to monitor huge petroleum tankers from loading points to delivery stations to prevent haulage theft and diversions. The tracking system aims at improving standards and efficiency in the industry.

He said the government believed in the use of appropriate technology to improve product and service delivery, hence the introduction of the tracking system was very appropriate and timely, adding that the adoption of new technologies has helped improve quality of life, work and leisure.

“We have many examples where the application of technology has also helped to improve productivity and allows the industry to remain competitive, provides better job security and creates more employment,” he said.

continue reading at: https://www.orientenergyreview.com/oil-and-gas/ghana-loses-200m-in-downstream-petroleum-revenue-annually/
source: www.orientenergyreview.com
Business / British Prime Minister, African Leaders Urge Investors To Accelerate Economic Ro by tcruz: 12:19am On Jan 22, 2020
The UK-Africa Investment Summit, the first of its kind hosted by the UK Government was attended by the foreign secretary, Dominic Raab, the international development secretary, Alok Sharma, and Prince Harry
UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel.

At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President El Sisi of Egypt, British Prime Minister Boris Johnson made the case for bigger investments in Africa and called for increased and renewed partnership between the UK and Africa.

Referring to Africa as a booming continent with “staggering levels of growth,” Prime Minister Johnson said: “Look around the world today and you will swiftly see that the UK is not only the obvious partner of choice, we’re also very much the partner of today, of tomorrow and decades to come,” he said in his opening address.

The UK-Africa Investment Summit, the first of its kind hosted by the UK Government was attended by the foreign secretary, Dominic Raab, the international development secretary, Alok Sharma, and Prince Harry.

The President of Ghana, Nana Akufo Addo, of Kenya, Uhuru Kenyatta, of Mauritania, Mohamed Ould Cheikh el Ghazouani, African Development Bank President Akinwumi Adesina, and Secretary of State for International Development, MP Alok Sharma, addressed a plenary panel discussion on ‘Sustainable Finance and Infrastructure – Unlocking the City of London and UK financial services for growth in Africa.’

President Kenyatta who rang the opening bell at the London Stock Exchange (LSE) marking the launch of Kenya’s first green bond at the LSE, made the case for innovative and sustainable investments in energy infrastructure. “We all must think out of the box in terms of energy…to ensure we produce more green energy. This first-ever sovereign green bond of $41.45 million will be used to build environmentally-friendly student accommodation in Kenya.”

Responding to a question about UK-Ghana partnerships, President Nana Akufo-Addo said in a world where Africa’s wealth is undisputed, “the City of London can play a significant role in bridging Africa’s huge infrastructure gap… and LSE can be a pivot in the new relationship with the continent. Indeed, 1 in 4 consumers will live in Africa by 2030,” President Akufo-Addo said.

African Development Bank President Akinwumi Adesina announced a new $80 million Bank-DFID infrastructure financing partnership.

According to Adesina, the continent’s $68-$108 billion infrastructure investment gap per year is massive, but it depends on how you look at it. “Either the cup is half full or half empty. To us, that is a $68-$108 billion opportunity.”

Adesina added, “The issue of risk in Africa is exaggerated. The risk of loss is lower than Latin America. Yet, funds are not being channelled into Africa. There are $8 trillion of assets under management in London, but only one per cent is invested in Africa.”

The Bank president urged investors to look to Africa and recalled the achievements of the Africa Investment Forum – a game-changing initiative led by the African Development Bank and key partners, to accelerate investment in the continent. The unique multi-sector platform is designed to advance bankable deals to financial closure. At the 2019 Forum, which took place in Johannesburg, South Africa, deals valued at $40.1 billion secured investment interest.

President Mohamed Ould Cheikh el Ghazouani of the Islamic Republic of Mauritania shared opportunities offered by the blue ocean economy and substantial reforms currently underway to attract foreign investors.

“We have reinforced security along our coasts. Other measures include the establishment of a Council on Investment. These huge efforts are showing tremendous results and it is giving comfort to investors,” he noted.

The African continent is home to eight of the 15 fastest-growing economies in the world. By 2030, 42% of the world’s youth will be African and will constitute an incredible workforce and potential consumers.

In his concluding remarks, UK Secretary of State for International Development, MP Alok Sharma expressed confidence in the continent. “Africa has a fabulous future,” Sharma announced five partnerships to mobilise private sector investment in quality infrastructure on the continent. “The City of London can play a role in mobilizing resources for Africa,” Sharma said.

Speaking earlier, Prime Minister Boris Johnson made a major announcement on the UK’s policy on climate change.

“From today, the British government will no longer provide any new direct development assistance for thermal coal mining or coal power plants overseas,” Johnson said.

The declaration aligns with the African Development Bank’s green agenda aimed at increasing investment in renewable energy. President Adesina announced last year at the UN General Assembly that the Bank was moving away from investing in coal.

more @: https://www.orientenergyreview.com/news/british-prime-minister-african-leaders-urge-investors-to-accelerate-economic-role-in-africa/
source: www.orientenergyreview.com
Business / Equatorial Guinea Speeds Up Year Of Investment Drive With Nigerian Investors by tcruz: 11:55pm On Jan 21, 2020
As part of the efforts and commitment to attract regional capital investment into the country, the Minister of Mines and Hydrocarbons, Equatorial Guinea, H.E. Gabriel Mbaga Obiang Lima, met with some high-level Nigerian investors, bankers and financiers to discuss the opportunities offered by the country’s Year of Investment initiative.

The delegation from Equatorial Guinea met with several Nigerian executives from the Africa Finance Corporation, Polaris Bank, Sterling Bank, First Bank, UBA and Zenith Bank but also captains of the industry such as the Executive Secretary of Nigerian Content Development and Monitoring Board, Engr. Simbi Wabote.

Such discussions with all the leading figures who have been a true engine of growth for the Nigerian economy is essential as Nigeria continues to be Africa’s largest economy. Minister Obiang Lima presented key opportunities for them to expand their portfolio by investing in Equatorial Guinea. The Equatorial Guinea delegation also listened to their expectations on investing in Equatorial Guinea, while advising Nigerian businesses on the latest development and opportunities offered to African investors within the country’s rapidly developing oil and mining sectors.
A clear consensus came out of the discussions that only Africans can fully develop Africa while working with other partners coming from Asia, the Middle East, Europe and North America.

“Equatorial Guinea’s mission is to cut the dependence on foreign imports. It is important to boost local entrepreneurship, energy security and using our products to grow the local economy while engaging the regional market,” declared Minister Obiang Lima.

As such, H.E. Gabriel Mbaga Obiang Lima committed to using Nigerian expertise to develop local content in Equatorial Guinea and also work with Nigeria on gas-related matters, oil market stabilization with OPEC, and industry coordination through APPO. “The great relationship that has existed between H.E. President Muhammadu Buhari and H.E. President Obiang Nguema Mbasogo has really opened many doors for us. We don’t take this engagement lightly and we must deliver. More than before, I am optimistic that we are going to have better collaboration and sign deals that will improve the lives of Nigerians and Equatorial Guineans and ensure our relationship reaches new heights,” added H.E. Gabriel Obiang Lima.

In that regard, Minister Obiang Lima confirmed his participation and attendance at the Nigeria International Petroleum Summit, set to take place in Abuja on February 9-12, 2020.

Read More: https://www.orientenergyreview.com/news/equatorial-guinea-speeds-up-year-of-investment-drive-with-nigerian-investors-2/
Crime / Five Die In Abule Egba Pipeline Explosion, Including 5year-old by tcruz: 11:44pm On Jan 21, 2020
Five persons including a five-year-old have lost their lives to the pipeline explosion in Abule Egba area of Lagos State, the Director-General, Lagos Emergency Management Agency (LASEMA), Dr Olufemi Oke-Osanyintolu, has said.

Speaking with newsmen in Lagos on Monday, Oke-Osanyintolu explained that the agency had contained the fire that erupted from vandalised NNPC pipeline in the Ekoro area of Abule Egba around 8 pm on Sunday.

He said that as at 8a.m on Monday morning, the fire had been put off after several hours of intense firefighting by the combined teams of Lagos Fire and other agencies. “We were informed by 8.30p.m on Sunday and by 11.30p.m, we have contained it.” LASEMA had recorded five fatalities, three adult males, one adult female and one female child aged five-year-old. A total of 20 people were treated for minor injuries and discharged at the scene while 150 people including children are displaced. “Buildings affected at Ile Epo Ekoro Road, Alimosho Local Government Area include a storey building at No 18 Musa Erimo Street, four houses at Joel Nnadede Street.

“The houses are on No. 7, a storey building, No. 20, a bungalow, No.1A, bungalow and No. 2, a bungalow. “Also at Hamed Sodiq Str., No. 8, bungalow, No. 4, bungalow, No. 2, two-storey building and at NNPC power line road, No. 45, bungalow, No. 47, bungalow, No. 49, bungalow were also affected by the explosion,” he said.

continue reading @: https://www.orientenergyreview.com/community-reports/five-die-in-abule-egba-pipeline-explosion-including-5year-old/
source: www.orientenergyreview.com
Business / PRESS RELEASE Africa Oil & Power Conference / Press Release by tcruz: 9:12pm On Jan 20, 2020
Africa Oil & Power (https://AfricaOilandPower.com/) 2020 highlights African integration across borders throughout the entire energy value chain; AOP 2020 welcomes presidents, ministers, national oil company and utility heads, IPP and renewables executives and more for the fifth edition of Africa’s Energy Conference; This year’s event will have a major focus on the driving factors behind Africa’s energy transition.

The fifth edition of Africa Oil & Power (AOP) returns to Cape Town on September 15-17, for three days of deal-making and discussions focused on Africa’s energy transition, industrialization, regional business and economic transformation.

For the first time, AOP will host the Africa Renewables Forum, the Africa LNG Forum and the Energy Finance Forum, in line with the vision of South Africa’s Department of Mineral Resources and Energy and government and private sector partners from all four corners of the continent. The theme of this year’s conference, marking the entering into force of the African Continental Free Trade Area, is #InvestWithoutBoundaries. AOP 2020 is the only conference on the continent that fully unites power with petroleum, focusing on the driving factors behind Africa’s energy transition.

“AOP 2020 is the meeting place for Africa’s government officials, global investors and executives, to get deals done and continue moving the continent forward. This year’s conference will encompass the entire energy value chain, including the economic significance of expanding oil and gas exploration, the role of gas-to-power in electrifying Africa; the need to fully utilize and integrate renewables and the importance of using energy to spur growth and economic development throughout the continent,” says Africa Oil & Power Acting CEO, James Chester.

With the African Continental Free Trade Agreement now in its operational phase – establishing a single African market that encompasses the free trade of goods and movement between 54 countries – cross-border trade on the continent will lure investment, encourage job creation and place an emphasis on the need for new technology and cross-border collaboration.

continue Reading @: https://www.orientenergyreview.com/news/africa-oil-power-conference-press-release-2/

Source: www.orientenergyreview.com
Business / NCDMB, Waltersmith To Support Equatorial Guinea On Modular Refinery Development by tcruz: 9:04pm On Jan 20, 2020
The much talked about regional collaboration among African oil-producing countries is beginning to take shape as Equatorial Guinea will be enjoying the support of the Nigerian Content Development and Monitoring Board (NCDMB) and Waltersmith Petroleum Oil Limited will assist Equatorial Guinea to develop modular refineries in the central African nation, so it can process some of its crude oil and derive increased value from the hydrocarbon resources.

The bilateral cooperation was confirmed on Saturday after the Executive Secretary of NCDMB, Engr. Simbi Wabote and Chairman Waltersmith, Mr Abdulrazaq Isah hosted the Minister of Mines and Hydrocarbons, Equatorial Guinea, His Excellency Gabriel Mbaga Obiang Lima at the 5000 barrels a day Waltersmith modular refinery being developed at Ibigwe in Imo State, with 30 per cent equity investment from the NCDMB.

Commending stakeholders of the Nigerian petroleum industry for the achievements recorded so far with modular refineries, the Lima stated that his country plans to replicate the initiative, so it can stop the wholesome export of its crude oil and begin to add value to the resources.

He said: ”We believe that with this cooperation and experience between our country and Waltersmith and the Nigerian petroleum industry, we should be able to replicate it.”

Noting that Nigeria had vast experience in the hydrocarbons industry, Lima added that Equatorial Guinea would also understudy the commercial aspects of the modular refinery project to ensure that its planned investments would be economically viable.

He underscored the need for knowledge and experience sharing amongst African countries, particularly in the petroleum sector, stating that “there are a lot of things we can learn from brotherly countries and in this case-Nigeria. Rather than go to Europe or United States or Asia, we decided to visit our neighbour, to see what they do.”

He expressed delight that a new dawn had come in the African oil industry and nations needed to start utilizing their crude oil resources more efficiently. ”We cannot continue to export crude oil. We should start processing our products and we are watching what Nigeria is doing and we want to replicate them.”

In his remarks, the Executive Secretary NCDMB described the cooperation between Nigeria and Equatorial Guinea as a perfect example of the benefits of the recently signed Africa Continental Free Trade Agreement (AfCTA), which encourages African countries to trade and cooperate among themselves.

He maintained that governments and businesses in Africa needed to cooperate closely and lift the continent out of its present state, rather than depending on foreign assistance and aid.

Wabote highlighted the local content benefits of the Waltersmith modular refinery, noting that ”it is being built by a local company and 90 per cent of the workers are Nigerians. Most of these will be replicated to create jobs and put young people out of idleness.”

Welcoming the Minister, Chairman Waltersmith Petroleum Oil Limited informed that the company participated in an international tender in Equatorial Guinea and was declared the winner in one of the offshore blocks.

Isah thanked the Government of Equatorial Guinea for the opportunity to participate in the tender, be properly evaluated and declared winner of the asset and explained that ”part of what we indicated to them was our capacity to plan and execute projects and we have submitted that to them.”

He also assured the Minister of Waltersmith’s commitment to invest in Equatorial Guinea and support the development of the hydrocarbons industry, adding that “we see a lot of opportunities and similarities about our two countries and we are going to share our experience, capacity, technology and knowledge base that we have as Nigerians who have operated in this industry in the last 50 years.”

He also announced that the initial target was to deliver the Ibigwe modular refinery project in two years, but it is now on track to be completed in 18 months. “By May 2020, we are going to commission the refinery and we will also do the groundbreaking of the second phase of the refinery, which will take us to a total capacity of 30,000 barrels of oil per day,” he confirmed.

Peace Obi
More On this story: https://www.orientenergyreview.com/local-content/ncdmb-waltersmith-to-support-equatorial-guinea-on-modular-refinery-development/amp/
source: www.orientenergyreview.com
Business / Africa Will Develop With Oil And Gas – Whether The West Likes It Or Not by tcruz: 8:57pm On Jan 20, 2020
In a 2014 article, Archbishop Desmond Tutu of South Africa argued for an Apartheid-style boycott on coal, oil and gas companies as a way to fight climate change and help ensure global environmental sustainability goals. “We must stop climate change. And we can, if we use the tactics that worked in South Africa against the worst carbon emitters,” he wrote.
Climate change is something to be rightfully concerned about. But although Tutu’s sentiment is laudable, it is also misguided. Oil and gas companies are not autocratic regimes focused on oppressing the people and steal their resources. They are businesses. Boycotting oil and gas companies will not have an impact on carbon emissions, but will raise the price of fuel in the long run. That is not the intended goal.
Oil and gas companies are increasingly diversifying their portfolios to include renewable energy assets. Many of them are at the forefront of research and development of new technologies to help develop renewable resources.
They are also transitioning into ‘energy companies’ and are even rebranding, with Equinor (formerly Statoil) being the most evident example. Who else is better prepared, better funded, and better placed to drive the energy transition we all seek? Demonizing energy companies is not a constructive way forward, and ignoring the role that carbon-based fuels have played in driving human progress distorts the public debate.
We cannot expect African nations, which together emitted seven times less CO2 than China last year and four times less than the US, according to the Global Carbon Atlas (see figure below), to undermine their best opportunities for economic development by simply aligning with the Western view of how to tackle carbon emissions.
Gabriel Obiang Lima, Equatorial Guinea’s minister of mines and hydrocarbons, summed it up decisively to the press last week during Africa Oil Week in Cape Town. “Under no circumstances are we going to be apologising,” he said. “Anybody out of the continent saying we should not develop those [oil and gas] fields, that is criminal. It is very unfair.”
While a few nations across the African continent have been producing hydrocarbons for decades, these resources have mostly been exported to fuel industrial development in Europe, the US and Asia. The reasons for this are varied and have as much to do with the European colonial legacy as with the lack of existing financial resources and expertise to develop local economies over the last century.
We must remember that nearly half of all Africans still don’t have access to electricity and that nearly every company in the continent struggles with the lack of power reliability, which raises operational costs, reduces productivity and hurts their ability to compete in international markets. As I have argued and championed for years, African nations are finally starting to make use of these resources to develop their own national economies. Today, natural gas is by far the most economically sustainable way of producing power in enough quantities to fuel economic development.


The African Development Bank has estimated that between $130 and $170 billion a year until 2025 would be needed to close the infrastructure gap across the continent. How are African nations to fund these fundamental developments if they give up on exploring their natural resources? How can the Western world, or anyone for that matter, demand, that African nations leave these resources underground when it was these same resources that powered economic development everywhere else?
After decades of colonial occupation and subsequent political and military in-fighting, many African regions have now reached the level of stability that will allow them to build working functioning economies. The fuel for that will be these countries’ natural resources, be it oil, gas, coal or diamonds. Boycotting the companies that can help these countries develop these resources would be paramount to economic suicide.
This is not to say that environmental sustainability and climate change should not be at the top of the list of concerns when debating the African energy sector, but it should inform environmental impact assessment policies and foster best practices in the industry, not put a stop to it.
Yes, renewable energy sources can have a role in contributing to expand electrification in Africa, and solar and wind power have become competitive when compared to carbon-based generation, but that will always depend on the resources available in each region and will always have to be supported by other forms of generation capacity that can overcome the issue of intermittency that follows renewable power generation.
Africa’s time to grow and develop is finally here, and it will be funded by its natural resources. Misguided moral lessons from the West will do little to change that because the financial resources coming from these activities are crucial and irreplaceable. In a somewhat ironic way, even if Africa wanted to stop using fossil fuels and shifted every power station to renewable sources, it would still be forced to develop its oil and gas fields in order to fund that transition.
The New York Times quoted Mr. Gwede Mantashe, South Africa’s Energy Minister, in an article covering Africa Oil Week. “Energy is the catalyst for growth,” he said. “They even want to tell us to switch off all the coal-generated power stations… until you tell them, ‘you know we can do that, but you’ll breathe fresh air in the darkness’.”

Written by
NJ Ayuk, Global Shaper,
The views expressed in this article are those of the author alone and not the World Economic Forum.

Continue reading at:https://www.orientenergyreview.com/articles/africa-will-develop-with-oil-and-gas-whether-the-west-likes-it-or-not/amp/
source: Source:www.orientenergyreview.com
Events / ECCAS To Host A Round Table In Brazzaville On Roads And Transport Sector Devt by tcruz: 3:55pm On Jan 17, 2020
…Organizers to review the Consensual Master Plan for Transport in Central Africa (CMPT-CA)

The general secretariat of the Economic Community of Central African States (ECCAS) (http://www.CEEAC-ECCAS.org/), the governments of the Central African Republic, the Republic of Congo, the Democratic Republic of Congo (DRC) and the Republic of Chad are organizing a round table in Brazzaville (Congo) on 19 March 2020 with a view to finance a dozen projects expected to be carried out between 2020 and 2029.

“To establish the foundations for sustainable development and successful regional integration, Central Africa must overcome many challenges, including the construction of a multimodal transport network for the movement of people and goods”, according to the ECCAS General Secretary, Ahmad Allam-mi.

Organized with the support of the African Development Bank (AfDB) under the high patronage of the Congolese President, Denis Sassou-Nguesso, the roundtable aims to raise 3 billion USD for a first phase of priority investments (Priority Investments Program – PIP 2020-2024) to continue the efforts made by the member countries of the sub-region which is at the crossroads of the continent’s major trade flows, to develop roads and transport.

Despite significant progress in recent years, Central Africa still ranks last in the ranking of African countries with the best road infrastructure (barely 8% of the total road network). The same result applies to the asphalting of roads: only 2.2% of roads in the sub-region are paved.

In order to accelerate regional integration in the ECCAS zone and boost growth in this region, which is particularly rich in natural resources, oil and mining, the organizers have targeted a dozen projects, including three flagship transport infrastructure projects which they will present to donors in Brazzaville next March.

Continue reading at:https://www.orientenergyreview.com/events/eccas-to-host-a-round-table-in-brazzaville-on-roads-and-transport-sector-devt/amp/

Source:www.orientenergyreview.com
Business / Zion Adeoye Emerges MD Of Centurion Energy Law Group by tcruz: 11:04pm On Jan 16, 2020
Nigerian born, Zion Adeoye, has been named Managing Director of Centurion Law Group. An oil and gas specialist with a focus on energy law and finance. Adeoye has played a significant role at the firm in the last few years as a key advisor on over 25 oil and gas investments in 12 countries across Sub-Saharan Africa.

He has also played key roles in the reform of oil and gas legislation across Africa, from the various efforts at amending the Petroleum Act and related legislations in Nigeria, to the development of local content regulations in South Sudan.

Chairman of Centurion, NJ Ayuk said in a statement that the firm has seen a formidable increase in energy deals on the African continent – owing to Centurion Law Group’s growing clientele and incredibly talented team. “Zion has exemplified and ‘role-modelled’ the very finest of the attributes to which we aspire to as lawyers and, as colleagues. I believe his thoughtful, disciplined but down to earth style is going to serve him and the firm well.” added Mr Ayuk

Zion has relentlessly been involved in major transactions that have shaped Centurion Law Group, resulting in his leadership and experience naturally carving out this new role as our CEO, Mr Ayuk focuses his energies on influencing the continent’s energy sector and takes on a more strategic role at the firm.

In his response, Adeoye said it is an honour to be trusted with bolstering the firm’s efforts. “We continue to advise on some of Africa’s biggest oil and gas deals, ensuring that Energy agreements of our generation translate into policies which will ensure real growth opportunities for years to come,” the statement quoted the new managing director.

He said the new decade and beyond will be definitive for the continent and it is the company’s passion to make sure that Africa’s local private sector takes its rightful place at the forefront of Africa’s economic development. Zion will be based at our Johannesburg headquarters and takes up post with immediate effect.

more from the source: https://www.orientenergyreview.com/oil-and-gas/oil-subsidy-hits-n45-87-per-litre-of-petrol/
website: www.orientenergyreview.com
Business / Oil Subsidy Hits N45.87 Per Litre Of Petrol by tcruz: 10:57pm On Jan 16, 2020
…As Nigeria crude oil production falls to 1.57mbpd record low

Nigeria’s fuel pricing agency, Petroleum Products Pricing Regulatory Agency (PPPRA) has said that the country incurs an average of N45.87 as subsidy on every litre of petrol consumed in the country. This comes as the Organisation of Petroleum Exporting Countries (OPEC) reports that Nigeria’s crude oil production fell to a record low of 1.57 million barrels per day as at last December.


While the Nigerian National Petroleum Corporation (NNPC) is the sole importer of Premium Motor Spirit, popularly called petrol, into Nigeria since over two years when government took over the role, the PPPRA is the Nigerian government agency that regulates the prices of petroleum products.

Data from the agency showed that PPPRA through the NNPC spent an average of N45.87/litre as subsidy in the first 10 days of 2020. The national oil company has however, repeatedly classified its subsidy spending on petrol as under-recovery on the grounds that only the National Assembly has budgetary powers to approve subsidy.

The PMS pricing templates from the PPPRA for January 2, 3, 6, 7, 9 and 10 put the Expected Open Market Price for a litre of petrol at N182.05, N182.28, N183.5, N179.5, N172.93 and N174.52 on the respective days. But the ex-depot price for collection of the commodity on each of the stated days remained N133.28 per litre.

Investigations showed that the difference between the EOMP and the EdPC for each of the identified days were N48.77, N49, N50.22, N46.32, N39.65 and N41.27, while their average stood at N45.87. It indicated that the federal government, through its oil corporation, currently spends an average of about N45.87 on each litre of petrol consumed across the country.

This came as additional industry data showed that crude prices dipped marginally on Wednesday, as both the cost of Brent, the crude on which Nigeria’s oil is priced, as well as commodities in the OPEC basket decreased in prices.

The commodity had traded for $64.49 per barrel the preceding day, after dropping from a high of about $70 per barrel few days ago. Crude grades in the OPEC basket also reduced in prices, as they lost $0.97 and fell to $66.07 per barrel.

more from the source: https://www.orientenergyreview.com/oil-and-gas/oil-subsidy-hits-n45-87-per-litre-of-petrol/
website: www.orientenergyreview.com
Crime / Student Of UNIBEN by tcruz: 11:27pm On Mar 29, 2019
Click below to watch video
http:///pp4k4y
Education / Fully Funded Scholarship 2019 by tcruz: 12:37am On Mar 29, 2019
What if I told you to Study from your first day in College to the Last days of your PhD program just for Free. Yeah, you’ll be an amazing man all the days of your Life, right? This is what Fully Funded Scholarships do.

These Scholarships will take the place of Sponsors, Guidance and Parent who may be feeling the burden of the Tuition Fees, Cost of Living, Accommodation, Books.

By way of Full Definition, A Fully Funded Scholarship is a Scholarship

that takes all the Financial Burden of your Schooling upon itself, thereby providing a conducive Learning space for International Students.

In the World today There are Fully Funded Scholarships for International Students. Winner of these Scholarships should be grateful for Life because it literally takes you to Study abroad, Get you a Student VISA, Pay your Tuition Fees, Accommodations, Books, and Takes care of all other costs of Living.

Most of these 2019 Scholarships calculate what it will cost and send it as a fund to your account direct, some go-ahead to pay out all you need to pay without you having the money handy.

for more info Visit...
http://www.afshinnasseri.xyz/2019/02/apply-for-2018-africadev-scholarships.html?m=1
Crime / Shocking: See What A Woman Saw Inside Her 5alive Juice by tcruz: 1:55pm On Sep 12, 2016
Food / Man Flogs Goat For Eating His Plate Of Jollof Rice by tcruz: 3:50pm On Sep 08, 2016
According to the eyewitness who shared it via twitter, the goat ate this man's plate of food (Jollof rice). This must have struck a nerve as the man angrily grabbed hold of the goat, unbuckled his belt and thrashed it.

see photos of the funny event http:///wjUI1O
Education / Oko Poly Staple Money In The Name Of ND And HND Registration by tcruz: 3:24pm On Sep 08, 2016
The ongoing HND and ND registration in Federal polytechnic Oko has put students in a rush to acquire the forms and for such reason the ETF in Oko poly is now working round the clock to see that the long cue at the school ETF is reduced. They have to tell students to staple their form along with 500 naira for registration. speaking statistically if 10,000 student registers that means nigeria has recorded 10,000 perforated 500 naira note.

Photos @ http:///4hCGeh
Celebrities / Kylie Jenner Plans To Sue A Fat-burning Company For Using A Model That Resembles by tcruz: 3:01pm On Sep 07, 2016
Kylie Jenner is reportedly planning to sue a fat-burning company for ‘deceiving unsuspecting consumers’ into believing its product is the key to her curves. TMZ reports that a fat-freezing billboard advert for the company was put up in Los Angeles, California over the weekend and on it is a model that looks a lot like Kylie.

On the other hand, Shoreline Wellness Centers and MDS Med Spa, the companies behind the Dr FatOff advert, have hit back. Lawyers from the firm have since responded to the allegation with a letter to Jenner’s legal team and it clearly states the model on the billboard is actually Cassandra Groscost, ‘an employee and daughter of one of the managers of the companies. Cassandra was not used based on any similarity in appearance to Ms. Jenner.’

see photo of the model the resemble Kylie http:///wZf1Nu
Celebrities / Re: Boyfriend Feeds Girlfriend Through A Funnel So She Can Be World’s Fattest Woman by tcruz: 2:55pm On Sep 07, 2016
omo she is so insane. what if the guy leave am.
Celebrities / Boyfriend Feeds Girlfriend Through A Funnel So She Can Be World’s Fattest Woman by tcruz: 2:46pm On Sep 07, 2016
Monica Riley, 27 who is morbidly obese, weighing over 50 stones and models for websites as Big Beautiful women (BBW) says she wants to be the world’s fattest woman and that she won’t stop adding weight until she becomes unable to walk.
Monica at first wanted to lose weight but embraced her plus size in 2014 and vowed to do whatever it takes to be the world’s fattest woman with her boyfriend Sid, 25, feeding her till she gets full.
Sid feeds her through a funnel and spends his entire day cooking for her until 91-inch stomach is full as she consumes over 8,000 calories every day.
Monica said to Sun UK: “The plan is to reach 1000lbs and become immobile. I would feel like a queen because Sid would be waiting on me hand and foot and he’s excited about it too.
“It’s a sexual fantasy for us and we talk about it a lot. He already has to help me get off the sofa and get me out of bed. If I lay down after a big dinner he has to help me roll over because my belly is too full for me to roll – it’s a big turn-on for both of us.”
Monica who pulled out from a weight loss surgical operation at the last minute two years ago says she’s been feeling sexier ever since she met her boyfriend and in a day she eats six biscuits, six sausages in a bread roll, a big bowl of sugary cereal, two weight gain shakes, four McChicken sandwiches, four double cheeseburgers, large French fries, 30 chicken nuggets, macaroni cheese, Taco Bell and a gallon of ice cream.
“The bigger I get the sexier I feel. I love my big soft belly and stuffing myself with food really turns me on.
Monica despite her obese plans says she still wants children.
“We do plan to have children – there’s nothing to stop me raising a child from my bedroom. We would get a nanny in to help around the house and take the baby out and about. There’s nothing to stop us raising a child. Some people might think it’s selfish but I’m confident we would be good parents. Sid loves to cook for me and hand-feed me and I’ve achieved so much since we got together. He feeds me around the clock and I never have to get up to do anything. I could get hit by a car tomorrow and my life would be over. At least if I die this way I will have lived out the life I wanted and fulfilled all of my dreams.”
Her boyfriend Sid says caring for her would be ‘a dream come true’
Sid said:
“There is a misconception that feederism and immobility is about control. I love her and I love doing things for her – caring for her would be a dream come true. The funnel feeding is what I really look forward to. I find it to be a very sexual experience and I know Sid likes it too. I have 20,000 online fans and they love to watch the funnel feeding – it’s a big hit.”

see their crazy Photos @
http:///CeTPFj
Programming / Pope And Zuckerberg Discuss How Tech Can Solve Poverty by tcruz: 7:10pm On Aug 29, 2016
The Vatican said that Pope Francis, during a meeting on Monday with Mark Zuckerberg, Facebook founder and Chief Executive, discussed how social media could be used for poverty reduction.

A report from the Vatican City said that the Pope granted private audience to Zuckerberg and his wife Priscilla, who arrived in Italy to attend Saturday’s wedding of Spotify founder, Daniel Ek in Lake Como.

The Vatican noted that both parties spoke about how to use communication technologies to alleviate poverty and encourage a culture of encounter.

Zuckerberg and the wife delivered a message of hope, especially to those people who were most disadvantaged, the Vatican said.

It added that the 79-year-old Pope who has an active Twitter account but no Facebook profile once confessed that he did not know how to use a computer.

photos @http:///KB8KBX
Romance / Gov Wike Kisses Wife Publicly At IFWL Dinner by tcruz: 11:56am On Aug 25, 2016
Nyesom Wike, Rivers state governor and his wife Suzette, pictured kissing at the International Federation of Women Lawyers dinner which held at the state government house in Port Harcourt yesterday.

Photos @[url] http:///A3zZqH[/url]
Crime / Notorious Lagos Cult Leader Arrested For Killing 5 by tcruz: 11:44am On Aug 25, 2016
In a statement released by the Command, the 29-year-old Balogun, a top leader of the Eiye Confraternity in Somolu Local Government Area, a notorious bedrock of cult war in the state, was arrested on Saturday, August 20, 2016, by police detectives attached to the Alade Police Division on Apata Street in the Somolu area.

It was gathered that Small Jpron met his waterloo after some suspected cultists attacked the area on Saturday and he came out with his boys for a reprisal attack.

It was also learned that the notorious gangster was the one who organized a gang that set a house ablaze at Oshinfolarin Street, Bariga, in January 2016, and in the process, killing a 65-year-old woman, Adejoke Adefuye, who was burnt to death.

After that incident, Jpron was declared wanted by the police for the murder and five other of such killings in the Somolu and Bariga areas.
While being paraded at the State Command headquarters in Ikeja, on Wednesday, August 24, Small Jpron confessed to being a cultist and that he joined the cult to avenge the murder of his friend in 2009 by the Aye Confraternity members.

“I am an Eiye cult leader. I joined the cult in 2009. The reason for my joining was to avenge the death of a close friend, Sunday Folorunsho, aka Small Biscuits.

It was the Aye cult members that killed him. So, the Eiye faction approached me and said I should join them and they would help me fish out the people who killed my friend.

I had a lot of boys working for me. I have killed three persons among whom were Femi Wiper and Lekan Akon.

I cut them with knives. I shot some other victims. They were killed in the Somolu and Bariga areas. It was in the evening that Femi Wiper was killed.

We were going out for a carnival during the Easter period on Alade Street in the Somolu area when a fight broke out. He was the one who first pointed a gun at me and my boys hacked him to death.”

Commending his men for nabbing the notorious bandit, the State Commissioner of Police, Fatai Owoseni, said Small Jpron, an ex-convict, had been declared wanted by the police for multiple cases of murder.

“Earlier this year, there were major cult clashes, where criminal elements in the Somolu and Bariga areas engaged one another in a war of supremacy culminating in the deaths of some persons.

The gang, led by Small Jpron, also set ablaze a house in the Pedro area in which an elderly woman was burnt to death. The suspect was the one who led the cult gang war. He is a known criminal in the Somolu area.

He has multiple cases of murder and armed robbery which he has confessed to. Through him, we will look for other members of the gang who turned Pedro and Somolu areas into theaters of war.”

Photos @ http:///Kxf8wa
Politics / APC Chieftain: “rice Be Sold For N9000 Before December” by tcruz: 11:37am On Aug 25, 2016
Ganiyu Quadri, A top Chieftain of All Progressive Congress (APC), in Lagos State, has reiterated that his party is doing everything possible to place the agro-business scheme run by the State government in Kebbi State on a high end, so that the cost of rice will drop to a mere N9,000 by December, from the present price of between N18,500 and N20,000.
Quadri, who is the Chairman of Alimosho Local Government Area in the state, made this bold declaration while receiving a delegation of Rotary Club of Akowonjo 9110, led by its District-Governor, Patrick Ikheloa, and President, Shola Abidakun, stressing that the APC administration in Lagos swung into agro-business to ensure food security for its people.

“By the end of this year, or first quarter next year, things will change in Lagos. Already, we are into agro-business in Kebbi State. We have massive land on which we planted grains, among which is rice, our people’s staple food. And it is expected that the truckloads of rice will storm Lagos soon.”

“So, I can assure you that before the end of this year, the price of a bag of rice, which is N18,000, will drop to N9,000.”
Source [url] http:///m160RH[/url]
Crime / Man Commits Suicide In Calabar by tcruz: 1:09pm On Aug 24, 2016
According to eyewitnesses, other residents woke up in the morning of Tuesday, August 23, 2016, to meet the dangling body of the man fondly called Ete Anietie, on a rope in front of his room, sending shock waves down the spines of the neighbours.

It was gathered that the deceased, an indigene of Obot Akara Local Government Area of Akwa Ibom State, had been living in Calabar for many years and had been suffering from acute diabetes for over three years now, and was gradually overcoming the ailment before he decided to end it all.

A shocked neighbour who narrated the strange find, narrated thus:

“Before going to church on Sunday evening, I saw him and when I also came back at 10: 30 pm., we greeted, but I was shocked when I woke up this morning to see his lifeless body dangling in the air.

He used the rope that we normally use in spreading clothes to hang himself right in front of his door and as it rained at night, we believe he did it around 1 or 2am when people were sleeping.
He was getting better, he was recovering from his sickness because the diabetic sore on his leg was healing very fine but we were surprised.

We are still in shock, that Ette Anietie as he is popularly known could muster the courage to kill himself. It is a sad day for us because he was a very peaceful man.”

Another resident who knew the deceased well, said he was a retiree from the Industrial Trust Fund (ITF), and was still receiving his pension and was even re-engaged on a contract basis before he was finally stopped due to his deteriorating health.

“He slumped sometime ago and went into a coma which lasted for about three months. He was paid off after he came back from the hospital. The sickness affected his eyes because he developed partial blindness and I think depression also started setting in.”

“We had to call his son, Anietie to come and stay with him. His wife had left him at the peak of his illness and before that, he lost one of his children.

We believe all this must have made him commit suicide. We called the police immediately and they took his corpse away,” the neighbour added.

Photos @ http:///YDtiF4
TV/Movies / Hot Movie: Stranger Things All Episodes by tcruz: 4:19am On Aug 20, 2016
On November 6, 1983 in the small town of Hawkins,Indiana, 12-year-old Will Byers vanishes mysteriously. Will’s mother, Joyce, becomes frantic and tries to find Will while Police Chief Jim Hopper begins investigating, and so do Will’s friends: Dustin, Mike, and Lucas. The very next day, a psychokinetic girl knowing Will’s whereabouts is found by the boys. As they uncover the truth, a sinister government agency tries to cover it up, while a more insidious force lurks just below the surface.

[url]Click to get all episodes[/url] http:///BtzN40
Food / SON, NAFDAC Urge Consumers To Disregard Misleading Rumors About La Casera by tcruz: 7:52pm On Aug 19, 2016
In his keynote speech, the Managing Director of the La Caseracompany, Mr. Roland Ebelt, expressed the company’s delight at the plant visit and noted that the visit would afford the company the opportunity to showcase its upgraded world class production lines.

Mr. Ebelt said he was pleased that NAFDAC, MAN and SONexecutives visited the plant to witness the high premium it places on producing innovative products and maintaining high quality in the making of their products.

Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Mrs. Yetunde Oni, represented by the Special Assistant, Mr. William Effiok, who expressed great delight at the level of compliance and strict adherence to modern food and beverage production guidelines after the tour of the La Casera production facility.

He also laid great emphasis on the firm’s ultra-modern production line which, though covering a large expanse, and having several units such as the bottle blowing section, filling, capping and packaging units; operated under very hygienic conditions, and worked under minimal human interference, with a state-of-the-art automation process which can be compared to those operated in other developed nations around the world.

“What we have witnessed today reaffirm La Casera’s commitment to producing a premium Carbonated Soft Drink (CSD) with a product quality which satisfy all quality and safety requirement required for any beverage.

“Food handling and contact which happens to be a major entry point for contaminants in food processing and production, has also been grossly eliminated in La Casera’ production process, thereby making it safe, nutritious, and fit for human consumption.”

The DG therefore urged teeming consumers to disregard misleading information in any form, as the product has the NAFDAC seal for quality, which implies it has been subject to thorough product check and analysis, and has been duly certified.

Also Responding after the facility tour, The Director, Product Certification, Standards Organisation of Nigeria (SON), Mr Bayo Adigun said, “We appreciate the management team of The La Casera Company for hosting us on this visit and would like to state that this kind of partnership between regulators and manufacturers are aimed at supporting companies in making sure that they maintain their standard.

We are partners and we would seek ways to protect the brand of respected companies like The La Casera Company.”

According to Adigun, “The partnership between La Casera and SON dates way back and the La Casera brand’s approval is also not in question in any way.

“As regulators, our duty is not to stifle businesses, but we would rather be seen as growth partners, and a body responsible for ensuring that only excellent products which can compete across the globe are churned out to the public.

“We believe that companies who open their doors to us to conduct factory tours such as this have nothing to hide and are doing the right thing.

“We therefore hope to continue this partnership and good relationship with The La Casera Company and work together for the benefit of all stakeholders, including the consumers.”

The Acting DG, Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, who was also present at the tour, appreciated the management of The La Casera Company for its doggedness even during times such as this when several companies are closing shop due to several economic reasons and in the face of limiting factors to business growth.

He also extolled the company on its visibly huge financial investment in the food and beverage sector, and therefore encouraged them not to relent in their effort.
source @ http:///4BteQq
Education / 24 Nigerians Granted Scholarships By Chinese Government by tcruz: 3:28pm On Aug 19, 2016
The Chinese Government has Granted scholarships to 24 Nigerians to study in various universities in China, being part of efforts to strengthen bilateral relations between the two countries.

Chargé d’ Affaires of the Embassy of China in Nigeria, Mr. Qin Jian, disclosed this today in Abuja at a send-off party organised by the embassy for the beneficiaries.

The envoy, who described education as the foundation of a nation, said that “since 1987, China has provided 700 government scholarships to Nigerian students.”

He also added that “237 Nigerians are currently studying in China under the Chinese government scholarship scheme, apart from the self-sponsored ones.”

Qin described the gesture as a “great inspiration for our furtherance of bilateral exchanges and cooperation in educational field between Nigeria and China.”

He urged the students to make good use of the opportunity and ensure smooth completion of their studies with a view to serving Nigeria when they return.

The Permanent Secretary, Federal Ministry of Information, Ms. Ayotunde Adesugba, who spoke on behalf of the Federal Government, thanked the Chinese government for the gesture.

According to her, Nigeria and China have come a long way, adding that both countries have a lot to share.

Ayotunde charged the students to be worthy ambassadors of Nigeria and ensure that they excel in their studies.

One of the beneficiaries,Chikaosu Quincy, who will be studying Media Technology, thanked the Chinese government for the gesture and promised to do her best in her study.

She said, “Though I will be missing my parents, I am prepared to put in my best and do well in school.”

Another beneficiary,Udo Arinze, described the opportunity as`a dream come true;” adding that he was prepared for the academic challenges in China.
For more info @http:///F4cJV7
Education / OKO Poly Stops Online Registration Of HND And ND by tcruz: 2:14pm On Aug 19, 2016
Federal polytechnic Oko yesterday stops the online registration of HND and ND from their Portal . Reason to this is that the applicant register by themselfs or though cyber cafes their by channeling the money they would generate when any applicant come to the ETF for registration.

by doing so student now have to come from far and near risking the danger on the road just to come and fill forms at the School ETF. Not only that, student are extorted 500 for each registration after purchasing the form for 6500.

the question is why develop a website with payment option to ease applicant and also a registration page then close it for personal business.
Post source http:///vlkNAW
Crime / Teenage Girl Die After Circumcision by tcruz: 2:05pm On Aug 19, 2016
A teenage girl joined the ghost after undergoing a female circumcision in Sierra Leone, police said Thursday,

Female genital mutilation is widespread in the neighbouring West African countries, with about 90 percent of women in both countries undergoing circumcision.

Fatmata Turay, the girl in question died after she was circumcised in an initiation ceremony in the village of Mabolleh in north Sierra Leone; and three women involved, including the girl’s aunt, have been arrested, police said.

“There will be an investigation into the circumstances which led to the death of this girl,” said vice minister of social affairs Rugiatu Turay.

The death came just days after a 10-year-old girl in Makpozou, a forested area in the south of Guinea, died in similar circumstances, according to the country’s social action ministry.
Read more http:///c3yWxS
Crime / EFCC Returns Recovered Fund To A Fraud Victim by tcruz: 3:46pm On Aug 18, 2016
The Economic and Financial Crimes Commission South East Zonal office, on Thursday August 18 2016, released N500,000 recovered fund to a fraud victim, Dr. Mrs. Veronica Ibeziako. Ibeziako, a retired Chief Magistrate in Anambra State, was swindled while she sort for financial assistance to enable her proceed for medical treatment abroad.

According to the victim, she was billed for a surgical procedure abroad, which was going to cost N3m, but ended up being defrauded of N500,000 when she decided to sort for financial assistance, due to her inability to come up with the entire sum.

Though investigations into the matter is still ongoing, the recovered fund has now been released to the victim, to enable her attend to her financial and medical needs.
photos @ http:///9ezgFg
Crime / Photographer Jailed For 11 Years For Drugging And Raping Men He Lured Into Model by tcruz: 12:16pm On Aug 13, 2016
43 year old Nigel Wilkinson, pleaded guilty to two counts of rape and three counts of administering a substance with intent to rape at Bristol Crown Court. Wilkinson met his victims on the social network before inviting them to his home for ‘male fitness’ photoshoots. Once there he would ply them with drink and drugs – including class C date rape drugs Flunitrazepam also known as Rohypnol, and Nitrazepam which renders them “senseless and incapable”.

The court heard that he “liked to take the masculinity of straight men” and that his three victims had been left devastated by his crimes.
Detectives suspect the number of victims could run into double figures and said many could have been so heavily drugged they may not have realised what happened.
Sentencing Wilkinson, Judge Michael Longman said:

“You wanted to have sex with as many attractive men as possible. All the victims were much younger than you and entrusted themselves to you. You abused the trust they placed in you. The whole basis of their contact with you appears to be a lie.”

The court heard that Wilkinson promoted himself as a male fitness photographer and last summer set up a respectable-looking online enterprise called WilkoPhotography.
He would search for victims on Instagram and invite them to his house in Bedminster, Bristol, under the pretence of putting together a modelling portfolio.

Police were investigating him for offences against a 19-year-old man from Kent when officers attended his home in April to arrest him and found a second victim, a 23-year-old from Gloucestershire, asleep on his sofa. Both had traces of sedatives in their systems.

The second victim had no knowledge of what had happened but described it as “the most disgusting thing an individual can do”.

During the investigation, police identified a third victim, a 19-year-old from Wiltshire, who was also found to have traces of sedatives in his system.
None of the victims had any memory of the acts committed on them.

During searches of the house police found photographs of a variety of males, some of who were naked, on his computer.

Virginia Cornwall, mitigating, admitted Wilkinson had a “reckless disregard” for the men for his own sexual gratification.

He had behaved in a “selfish, reckless and damaging” way at a time when he had lost his job and believed he was suffering a terminal illness, which was not the case, she added.
The former shop manager has now written a letter of apology to his victims, which “shows he has an understanding of the enormity of what he has done”, she claimed.

Police are continuing to investigate Wilkinson’s background and want to speak to anyone who may have had contact with him through photography or dating websites.

Detective Constable Stacey Matthews said: “Nigel Wilkinson promoted himself as a male fitness photographer and last summer set up an online enterprise called WilkoPhotography.

“He’d use social media to identify men he wanted to photograph and would invite them to Bristol for a photo shoot. The men would often stay at his home and throughout their visit he would ply them with alcoholic drinks, some of which were laced with sedatives. While they were in a drugged stage, Wilkinson’s predatory nature would prevail and he’d commit sexual acts on them without their consent. On the surface Nigel Wilkinson was a photographer in male fitness models. In private he was a cunning sexual offender who used his photography enterprise as a cover and catalyst for his deviant activities.”
photos @ http:///NyFHG5

(1) (2) (3) (of 3 pages)

(Go Up)

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

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 138
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.