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PoliticsRe: Why Tinubu Will Support Atiku Over Buhari by TundeBricklayer: 12:30pm On Oct 10, 2018
Shuku0kukobambi:
It would be assumed that before posting an article to buttress whatever pedestrian view point you want to promote, you would have read it yourself and if you had, you would have comprehended it. What does that write up have to do with Bola Ahmed Tinubu?

Where in the article did it say Atiku loaned Bola Tinubu $200million for OANDO business?
He is trying to inform you that Tinubu and Atiku are more close than Buhari, both have common interest in Oando PLC.

Gabriele Volpi is Atiku's friend who is the biggest shareholder in Oando group.

Read!

Nigerian Oil Company Oando Under Probe By Nigeria’s Securities and Exchange Commission
Nigeria's Securities and Exchange Commission (SEC) is probing Oando, an oil company owned and run by Wale Tinubu, a cousin of former Governor Bola Tinubu of Lagos State. Mr. Bola Tinubu, the national of the All Progressives Party (APC), is also in business partnership with Mr. Wale Tinubu. A petition by two of Oando’s shareholders triggered SEC’s investigation of the oil firm, SaharaReporters learned. The two petitioners are Dahiru Mangal and Italian businessman, Gabriel Volpi.
Nigeria's Securities and Exchange Commission (SEC) is probing Oando, an oil company owned and run by Wale Tinubu, a cousin of former Governor Bola Tinubu of Lagos State. Mr. Bola Tinubu, the national of the All Progressives Party (APC), is also in business partnership with Mr. Wale Tinubu.
A petition by two of Oando’s shareholders triggered SEC’s investigation of the oil firm, SaharaReporters learned. The two petitioners are Dahiru Mangal and Italian businessman, Gabriel Volpi.
Both petitioners have filed at least four lawsuits against Oando following a wrecked business move in which the firm acquired oil infrastructures from CONOCO Phillips in Nigeria. The questionable deal cost Oando $1.5 billion. Mr. Volpi reportedly gave Oando’s Wale Tinubu the sum of $900 million to effect the deal. In addition, Mr. Mangal reportedly contributed $250 million while former Vice President Atiku Abubakar contributed $50 million to the purchase which proved a disastrous investment for Oando. The petitioners are alleging mismanagement and ownership fraud on the part of the company’s operators.

A source at SEC said the commission’s investigators had so far found evidence that Oando had “been cooking its books for the past six years, creating the impression that it was making a profit when in fact the company was swimming in debts and overburdened by mismanagement.”

Mr. Wale Tinubu is believed to be neck deep in Oando’s financial and investment crisis. Our SEC source stated that Mr. Tinubu’s stake in the company fell to a minuscule one percent after he secured funds from Mr. Volpi, former VP Atiku, and Mr. Mangal. Our source added that former Governor Tinubu apparently counted on using his political influence with the Muhammadu Buhari administration to re-inject life into Oando, “but that hasn’t happened.”

President Buhari frequently used Mr. Wale Tinubu’s private jet during the 2015 electoral campaign. In addition, the businessman was reportedly liberal with cash donations to the campaign, according to a political source who spoke to our correspondent.

Oando was once listed on stock exchanges in Toronto and Johannesburg, but Canadian authorities in 2015 halted any trading in Oando's stock.

SaharaReporters contacted Mounir H. Gwarzo, the Director General of the Securities and Exchange Commission, to confirm the scope of the commission’s investigations into Oando, but he responded that the agency would not disclose the details of any ongoing investigation.

PoliticsRe: Why Tinubu Will Support Atiku Over Buhari by TundeBricklayer: 11:58am On Oct 10, 2018
Shuku0kukobambi:
The way you can dish out gist is outstanding. You go don tay for face me I face you house. See gossip!! shocked

Were you perched as a fly in the room when Atiku was loaning Tinubu the money? Why would tinubu even need a loan when you believe he's the landlord of Lagos?
He is right, some of you are just follow follow, lack knowledge of what is happening around you.

Kindly read.

PoliticsRe: South-East 'Has A Strong Case' But Atiku’s Running Mate To Come From South-West by TundeBricklayer: 8:52am On Oct 10, 2018
xpmode:
Mind you Yoruba voted for PDP both in East, South and North
4.7 million votes are for Southeast not East generally, how many Yorubas are in southeast 2011?
PoliticsRe: Just In, 2018 Sub National Salary Survey -photo by TundeBricklayer(op): 8:47am On Oct 10, 2018
Please also check states with star on them on the table and read the note below the table for better understanding.
PoliticsJust In, 2018 Sub National Salary Survey -photo by TundeBricklayer(op): 8:42am On Oct 10, 2018
Sub national salary survey 2018, Check your state grin cheesy

Lalasticlala

PoliticsRe: South-East 'Has A Strong Case' But Atiku’s Running Mate To Come From South-West by TundeBricklayer:
Olatundextd:
Come see wareyy..u4 tell m said na 2.7m be Igbo way vote i n SW and na 1.3 be Yoruba way dey SW..mumu
Ode Igbos, Yorubas and other tribes voted for PDP in 2011 in West, Yorubas also voted for ACN, even with Yoruba and others that votered in 2011 it's wasn't up-to 4.5 million votes , While Igbos in Southeast gave PDP 4.7 million votes, this to show Igbos vote more than Yorubas, same thing happened in 2015, with voter apathy in the east over Mbaka's comment Igbos gave PDP votes more than what Yorubas gave APC not minding their brother is on the ticket

PoliticsRe: SE need to apologize to SW before they are relevant in 9ja politics by TundeBricklayer:
qarada:
Was that what happened during Abiola vs Tofa or Falae vs Obasanjo. You Igbos n delusion sha
Yorubas voted for Abiola because he is their son, Tofa is from North, Abiola won Anambra which has the highest voters in the east, Abiola also grab some votes from other southeastern states, not minding Tofa's VP is Igbo same thing happened in Southsouth states, During Obasanjo vs Falae Yorubas supported Falae while others tribes supported Obasanjo, I don't know why Yorubas are very tribalistic and greed, tomorrow you will accuse Igbos of being domineering
PoliticsRe: SE need to apologize to SW before they are relevant in 9ja politics by TundeBricklayer: 6:15am On Oct 10, 2018
[s][ Politically, SW region is more important than SE when talking about election in Nigeria.

Please am not here to argue. The votes are there. Details are there.

APC has a Combo of Hausa/Yoruba.

What do you expect if PDP present Hausa/Igbo.

That is total failure for PDP before election. 2015 results will never be the same. SW will vote same way SE votes in 2015 if Atiku present SE vice president.

Can you imagine Buhari having over 1 million lead in Lagos and over 200,000 lead in small Ekiti. That will be total disaster.
_____________________

For SE to become relevant in Nigeria politics, they need to trace back their step and apologize to their brother SW.

I want you to remember that SE votes will always be useless as long as North and South West vote goes the same way.
______________

No reasonable politician will leave a region with 14 million registered voters for a region with 7 million registered voters..

And also, if power comes to SW in 2023, to have Igbo presidency, that will be 2039. 8 SW + 8 North.

IGBO WILL ALWAYS BE IN TRAP OF NORTH AND SOUTH WEST[/quote][/s]

Most of you are very ignorant and dumb, Igbos vote more than Yorubas, 14million vote will shared among major parties, go through voting pattern since we enter democracy, west is only region their voting block always shared among major parties, this is because of numbers of non indigenes in west unlike other regions.
PoliticsRe: South-East 'Has A Strong Case' But Atiku’s Running Mate To Come From South-West by TundeBricklayer:
Buterflyle0:
The votes from SE are about 7m the votes from SW are about 14m

Atiku and PDP ain't stupid. They feel they already have SE in the bag so will take you guys for granted and discard you again.

Wahala dey for una
14million from west will be divided, large numbers of Easterns are in West, go through voting pattern in west it always divided, Yorubas by tradition hardly vote for PDP, 2011 the supported ACN, 2015 Yorubas supported Buhari because he used Osibanjo as VP, Igbos and other minorities from Niger delta supported GEJ, state like Lagos with highest registered voters APC got 792,460 and PDP got 632,627, If PDP use Igbo as VP Igbos will massively vote for PDP

Below 2015 table, with five state in the southeast Igbos gave PDP more than what Yorubas gave APC in Southwest

PoliticsRe: South-East 'Has A Strong Case' But Atiku’s Running Mate To Come From South-West by TundeBricklayer: 9:15pm On Oct 09, 2018
ORIENTATION101:
atiku carry your vice president carrot to south east we dont need it.
Are you claiming southeast now huh
PoliticsRe: South-East 'Has A Strong Case' But Atiku’s Running Mate To Come From South-West by TundeBricklayer: 9:09pm On Oct 09, 2018
Bolustical:
So, who did the SW for in 2003, 2007 and 2011 Presidential elections? APC abi?

You people are just politically senile.

2011 presidential election southeast was 4.9 million for PDP southwest pulled 2.7 million for PDP and 1.3 for for ACN mind you Igbos also voted for PDP in West

EducationEnugu Beats 17 States To Win NNPC Science Quiz Competition by TundeBricklayer(op): 8:20pm On Oct 09, 2018
Enugu has emerged winner of the 2018 Nigerian National Petroleum Corporation (NNPC) National Science Quiz Competition.

The state led 17 others with 75 points, while Ogun and Edo states came second and third with 70 and 65 points, respectively.

Speaking at the event which took place at the Amphitheatre, NNPC Towers, Abuja on Tuesday, Mikanti Baru, Group Managing Director of NNPC, said past winners of the competition who are gainfully employed are excelling in their various endeavours.

He said: "I had charged the Corporation’s Group Public Affairs Division to assess the extent to which the objectives of the flagship CSR projects are being met to improve on its impact on the target audience.

"I feel humbled to report that all the past winners of the quiz contest that are professionally engaged are doing very well. A few examples will suffice. Sunday Aliu, one of the contest's pioneer winners who works in Total Nigeria EP was part of the team that built Egina Floating Production Storage and Offloading (FPSO) unit which has some relevance to Nigeria’s crude oil production."

Okeke Tony Kabilan, a student of Spring of Life International School, Enugu was this year’s winner of the annual competition. Igban Emmanuel, a student of Ambassadors College, Otta, Ogun State came second, while Alikah Joseph Ehiagwina, a student of Bosco Science Academy, Ukhun, Edo State was third.

Also present at the event was former Head of State General Yakubu Gowon, former military Head of State, General Abdulsalami Abubakar, Governor Atiku Bagudu of Kebbi State and Governor Godwin Obaseki of Edo State. Ibe Kachikwu, Minister of State for Petroleum also delivered an address.

Abia, Bauchi, Benue, Delta, Edo, Enugu, FCT Abuja, Gombe, Imo, Kaduna, Kebbi, Lagos, Ogun, Osun, Plateau, Rivers, Sokoto and Taraba states competed at the finals. Three states were picked from each geopolitical zone.
http://saharareporters.com/2018/10/09/enugu-beats-17-states-win-nnpc-science-quiz-competition
Lalasticlala

PoliticsRe: APGA Picks John Ogbor As Presidential Candidate For 2019 Election by TundeBricklayer: 11:36am On Oct 09, 2018
seunmsg:
Excellent. Igbos have no excuse not to vote for this great son of theirs. They have always complained of marginalization and Fulani born to rule mentality and Yoruba slavery. This is the time for all ipobs and Igbo supremacist to walk the talk. No Ibo person should vote for the born to rule Fulani candidates represented by Buhari and Atiku. A vote for Gen. John Ogbor is a vote for Ojukwu, Nnamdi Kanu, Biafra and IPOB.
Hypocrisy at the peak

Yourubas have no excuse not to vote for their sons and daughters

These are list of presidential candidates from Southwest that have emerged from different political parties to contest next year election

Olusegun Mimiko - Zenith Labour Party (ZLP)

Fela Durotoye - Alliance for New Nigeria (ANN)

Omoyele Sowore - African Action Congress (AAC)

Eunice Atuejide - National Interest Party (NIP)

Tope Fasua - Abundance Nigeria Renewal Party (ANRP)

Alistair Soyode - Yes Electorates Solidarity (YES)

Eniola Ojajuni - Alliance for Democracy (AD)

Adesina Fagbenro-Byron - Kowa Party (KP)

Williams Awosola - Democratic People’s Congress (DPC)

Gbenga Olawepo-Hashim - Alliance for People's Trust
PoliticsRe: Atiku Is A Case Study On Corruption In USA By Homeland Security. Pics by TundeBricklayer: 8:32am On Oct 09, 2018
Lordofthewest:
Ipob so dumb they always support criminals...smh
And you support and adore drug baron caging Lagos huh huh

PoliticsRe: Atiku Shops For Running Mate In South East by TundeBricklayer: 6:39am On Oct 09, 2018
Iblad0994:
We are discussing about Atiku, and yes, I never absolve Tinubu of any blame also.
So stick to the bone of contention and stop dilly dallying like a dangling rope
But you adore Tinubu, tomorrow he will be among those calling Atiku corrupt man, just like what Obasanjo is doing, my friend that's hypocrisy from you guys, even Buhari is corrupt
PoliticsRe: Atiku Shops For Running Mate In South East by TundeBricklayer: 6:28am On Oct 09, 2018
bestpunterever:
what you guys don't understand is that Atiku can't defeat Buhari in the north, didn't Atiku contest in 2011, did he win any state? No kwankaso would have even been a formidable opposition in the north for Buhari.
2011 was between Jonathan, Buhari, Ribadu and Shekarau
Below is 2011 presidential result, you can zoom to see how both region east and west voted.

PoliticsRe: Atiku Shops For Running Mate In South East by TundeBricklayer: 6:22am On Oct 09, 2018
Iblad0994:
So you think Atiku is the man to save the country right. I don’t even know why we southerners are thinking this way. It’s just a common knowledge that both Buhari and Atiku are old men without any capabilities of ruling this country. Come to think of it, if we allow Atiku to become president , that means we are allowing probably 8years of irresponsible leadership from this old northern corp of leaders. Atiku is corrupt to the bone and it beats my imagination that people keep anchoring for an Atiku. It just saddens me, I think Nigeria deserves everything we get Caz we just can’t think right.

Attached is a link of the United state senate committee using Atiku corruption as a case study in the US senate.

https://www.hsgac.senate.gov/imo/media/doc/FOREIGNCORRUPTIONREPORTFINAL710.pdf

Ask yourself if this is the kind of president you want for Nigeria.
Yoruba political leader

PoliticsRe: Atiku Shops For Running Mate In South East by TundeBricklayer:
PaChukwudi44:
Buhari will lose massively in the North central and lose a huge number oof votes from the NE/NW.The SS/SE will make up for the SW
Also don't forget , there are large numbers of Igbos, and minorities from Niger delta and middle belt across southwest states especially Lagos, Ogun, Oyo and Ondo. Same will happen in 2019 APC will win all western states but PDP will grab enough votes in west because of Igbos and other minorities, in 2015 we experienced voters apathy in southeast because of Mbaka's factor, and GEJ was reluctant with eastern voters he was busy dishing out money to western leaders and north and ignored east, and didn't do much in infrastructures unlike now Igbo and other minorities are bitter with PMB, during 2011 presidential election state like Anambra gave PDP 1.1 million votes, Imo 1.1, Abia 1.3 million Enugu 802.144, Ebonyi 480.492. Igbos will vote massively across the country if they see their own as VP to Atiku.
Below is 2015 and 2011, for those that said Igbos have no electoral value are very ignorant.

PoliticsRe: Atiku Is A Case Study On Corruption In USA By Homeland Security. Pics by TundeBricklayer: 4:42pm On Oct 08, 2018
Buterflyle0:
Bunch of liars.

I will always bust you guys and your lies with facts.
Hypocrisy to criticize Atiku of corruption and worship Bola Tinubu

PoliticsRe: Atiku Is A Case Study On Corruption In USA By Homeland Security. Pics by TundeBricklayer: 4:37pm On Oct 08, 2018
Buterflyle0:
Lmao you are hungry . I am not a BMC and I am not paid for anything.

Unlike you who is always grovelling for something to fall from the pockets of E Money. grin

I am a successful entrepreneur in business and growing.

How was your last security man Job? Have you dumped it as you dumped your ever woeful imaginary music career?

PoliticsRe: Hypocrisy To Call Atiku Corrupt Man At The Same Time Worship This Man -photo by TundeBricklayer(op): 4:21pm On Oct 08, 2018
M

PoliticsHypocrisy To Call Atiku Corrupt Man At The Same Time Worship This Man -photo by TundeBricklayer(op): 4:05pm On Oct 08, 2018
Hypocrisy to criticize Atiku of corruption, which he is not yet convicted at the same time praise and worship BAT

Political Leader of west

PoliticsRe: Atiku Is A Case Study On Corruption In USA By Homeland Security. Pics by TundeBricklayer: 3:45pm On Oct 08, 2018
Buterflyle0:
Okay the PDP presidential primaries have come and gone and a winner and Presidential flag bearer for the party has emerged. He is Alhaji Atiku Abubakar.

I am happy for PDP for choosing to field him as the opponent to President Buhari because in so many ways, it clearly sets us back to the scenario of 2015 which is the issue of Corruption vs Integrity.

Under same scenario in 2015, we know how that played out especially with the help of card readers which ensured that PDP no longer were able to inflate vote figures.

Same PDP in the form of Bukola Saraki the senate president recently tried to eliminate the card readers from the new modified electoral act but Buhari insisted it should be clearly included in the electoral act before he would endorse it. After much back and forth, it was included.

PDP in the past has been tagged as a party with a religion of looting and Nigerians were hoping that this time around, after being given 4 years break from power they would come back refined and more appealing to the many decent Nigerians who abhor all forms of corrupt practices but sadly they seem to have failed in this regard.

Right from their Primaries, it was evident that they just did not care about what people thought about them as they brazenly bribed delegates with large sums of dollars out of desperation and this speaks badly of where they are headed and why.

Between $2500 and $10,000 was shared per delegate by the aspirants of which Atiku was the largest bribe giver.

It is also on record that Atiku had been indicted on money laundry charges by the United States of America in conjunction with Homeland security. Anyone who knows how the homeland security works in USA would know that they are directly responsible for who is allowed in or out of the United states.

Once you are on their radar and red flagged, you have absolutely no hope of getting into the United States of America until your charges have been dropped and they have cleared you.

Atiku for many years (since 2008) has refused to step a foot in the united States based on the reason above. His partners in the money laundry crime have all been arrested, charged and jailed except him. Even his 4th wife resident in the USA who was an accomplice was arrested and jailed.

As it stands, Atiku is a wanted man in the United States of America.

His case was so deep, it became a case study on Corruption for homeland security in the USA.

For a party like PDP to still brazenly want to frolick with a known wanted man and a prolific looter of Nigerias Commonwealth, it shows that this party is far from turning over a new leaf and are still hell bent on continuing with their looting religion but this time, under a new ATM with no pin code called Atiku.

Obasanjo had his fair share of his thieving ways and has never forgiven him till date, now PDP have embraced this internationally known thief as their figure head for 2019 presidential polls. Talk about bad image laundering.

Anyway, attached is from the united states homeland Security with emphasis (mine) on Alhaji Atiku Abubakar.

You be the Judge!

let's get more input from the front page.

Goodmorning Gavelslam, Modath, ThrowBack, Midolian what say you?
Your Lord and political leader in Southwest

PoliticsRe: Atiku Abubakar And Ngozi Okonjo-Iweala Posters Flood Social Media by TundeBricklayer: 3:27pm On Oct 08, 2018
[s]
Klinee:
My friend it's better you align with Hausa person as a South Easterners than Delta Igbo person, those guys are not Igbo and the worst part of it, they don't wish well for South Easterners.
I live with them and I know what am saying.
[/s]
Senseless post, sorry!
PoliticsRe: Atiku Abubakar And Ngozi Okonjo-Iweala Posters Flood Social Media by TundeBricklayer: 3:05pm On Oct 08, 2018
[s]
KingKingKing:
Before u say anything further remember Okonjo is from Delta state SS, If this comes through then the South East are once again Schemed out of things at the centre!
[/s]
You are from west what is your business huh Are Igbos complaining, or you just want to play your divide and rule game huh
BusinessRe: Made-in-nigeria Cylinders Unveiled At World LPG Forum by TundeBricklayer(op): 1:06pm On Oct 08, 2018
Peter Obi's family are doing great
BusinessMade-in-nigeria Cylinders Unveiled At World LPG Forum by TundeBricklayer(op): 12:58pm On Oct 08, 2018
Oil and gas major Techno Oil Limited has unveiled its TechnoGas LPG cylinders at the 31st World LPG Forum rounding off at Houston, Texas in the United States.
With the unveiling, Nigeria has joined the league of nations manufacturing LPG cylinders for export.

One thousand and five hundred participants from 72 countries and 89 companies exhibited products, with Techno Oil as the only African company that exhibited its cylinder products.
A despatch by Techno Oil to NAN on Sunday, quoted Mr Gbite Adeniji, senior special adviser to the minister of state for Petroleum Resources as expressing delight that Nigerian companies are steadily making appearances on the world stage.
“I’m pleased to have visited your lovely stand and I’m highly impressed with what I saw of your products,’’ Adeniji said at the Techno Oil exhibition pavilion.
“The cylinders look high quality. I continue to be impressed with your entrepreneurial spirit and commitment to the oil and gas sector.’’
Similarly, the Managing Director of Ultimate Gas Ltd., Alhaji Auwalu Ilu, lauded the management of Techno Oil for flying Nigeria’s flag at the global event.
He said he was impressed with the quality of the cylinders, and implored Techno Oil to continue to make Nigeria proud on the world stage.
Executive Director, Commercial, Nigerian Products Marketing Company, Mr Billy Okoye, hailed Techno Oil’s remarkable achievement in manufacturing cylinders.
Also speaking, Deputy Director/Head, Downstream, Department of Petroleum Resources, Mrs Ijeoma Onyeri, said she lacked words to describe the initiative made by Techno Oil in manufacturing cylinders locally.
She told the company to sustain the quality of its products and ensure safety in its manufacturing operations.
In a speech at a ceremony to unveil the cylinders, the Executive Vice-Chair of Techno Oil, Mrs Nkechi Obi, flanked by the Managing Director of the company, Mr Tony Onyeama, and other senior management staff, said she was excited that Nigeria could now export cylinders.
She said it was a fulfilling moment for her to announce to the world that made-in Nigeria LPG cylinders could now be exported, rather than for Nigerians to continue to import cylinders and deplete its foreign reserves.
“We’re using this forum to announce to the world that TechnoGas cylinders have hit the market and we’re ready to meet every demand, local and international.

She told the gathering that Nigeria had spent billions of dollars importing LPG cylinders from China, India and other Asian countries.

Obi, whose company recently completed the building of Nigeria’s largest LPG cylinder manufacturing plant, said TechnoGas cylinders would help the Federal Government to save resources in importing cylinders and their accessories.
“The era of Nigerians depending on sub-standard cylinders imported from India, China and other countries is over for Nigerian and West African households.
She, however, lamented that the world was leaving Nigeria behind in LPG adoption, in spite of Nigeria’s top position in the league of gas-rich nations.


Obi noted that some industrialists had taken the initiative to promote LPG adoption in Nigeria, in a bid to not only to secure the environment and the future but to save scarce resources expanded by Nigeria annually to import kerosene and other cooking fuels.
She restated her concern on the worsening consequences of using solid gases such as firewood and charcoal in Nigerian homes.
According to the LPG adoption advocate, the World LPG Forum has again raised the stakes for the Nigerian government to realise that there is no better time than now for government to pay serious attention to discouraging Nigerians from using solid gases in cooking.
According to her, while the aim of using firewood, charcoal, animal dung etc. is to get food cooked, the Nigerian woman and her household are unknowingly exposed to inhalation of a myriad of harmful gases on daily basis.
“It doesn’t end there, these gases have far-reaching effects on the environment as they contribute to global warming and climate change.’’
The Techno Oil chief argued that global warming and climate change were directly responsible for increased global temperatures, flooding, food insecurity and desertification.
“A paradigm shift is required and there is no better time than now because up to 70 per cent of Nigerian women spend time cooking, using mostly solid fuels, instead of adopting LPG.
“More worrisome is the fact that Nigeria has one of the highest proven reserves of gas and is also one of the highest exporters of LPG in Africa,’’ the industrialist stated.
Obi said there was need for government to join forces with LPG stakeholders to make Nigerians to embrace LPG in their cooking urgently.
She expressed her optimism that the efforts of some companies and interest groups in LPG adoption had started yielding dividends in Nigeria, citing the building of an LPG cylinder manufacturing plant in Lagos by Techno Oil to boost the LPG value chain.
http://thenationonlineng.net/made-in-nigeria-cylinders-unveiled-at-world-lpg-forum/
Lalasticlala

PoliticsRe: Egina FPSO Contract: Samsung Accuses LADOL Of Peddling Falsehood by TundeBricklayer(op): 12:00pm On Oct 08, 2018
BabaRamato1980, deomelo,subway, sirsubway, oduavangard, ooni, obiofonitsha, demdem, superstar, aigbofa,kyase, babacele, passingshot, madridguy,mclatunji, you guys attention is needed here grin grin Claiming what is not yours in a criminal offence grin cheesy cheesy
PoliticsEgina FPSO Contract: Samsung Accuses LADOL Of Peddling Falsehood by TundeBricklayer(op):
The hope of expected amicable settlement of contractual disagreement that arose in the execution of Total’s multi billion dollar Egina Floating Production Storage and Offloading (FPSO) platform, was dashed, as Samsung has forcefully accused LADOL of peddling falsehood.

Samsung said the allegation by Lagos Deep Offshore Logistics Base (LADOL) that it jointly tendered with Samsung Heavy Industries (SHI) for the $3.3 billion FPSO contract was totally false, adding that the contract was awarded to Samsung Heavy Industries Nigeria (SHIN).

In a document made available to newsmen, SHI stated, “The Egina FPSO Contract was given NOT to SHI-MCI, but to SHIN by TUPNI. SHI-MCI is just one of Subcontractors and MCI is one out of two shareholders of SHI-MCI Joint Venture. Neither MCI nor LADOL is a nominated subcontractor under the main EPC contract.”

It stated, “There was no sum of money allocated for development of the yard in the EPC contract price. As the NC modules and integration of the Egina FPSO were to be executed in the yard, the completion of the yard was essential to the success of the project.

Thus to avert this kind of misunderstanding, Total expressly provided in the main EPC contract that this payment was defined neither an actual cost nor an investment in the yard but merely for purpose of progress weighing. Also, LADOL refers to ‘upgrade’ of its existing facilities. There were no existing facilities. LADOL leased bare land to Samsung and Samsung built a brand new facility.”

The document disclosed that LADOL was not excluded from participation; they had their opportunity but failed to meet with their financial and contractual obligations. Moreover, LADOL is one of the main beneficiaries of Egina FPSO Project.

“SHIN/SHI-MCI have paid huge amount of money in the name of land lease fee and various service charges. In addition, SHI Korea which is the parent company of SHIN provided full guarantee for the debt financing including MCI’s portion, which ultimately gave significant relief in financial burden of LADOL. Samsung didn’t push LADOL to take unreasonable financial
burden for 80% of share. It was LADOL itself which insisted to take 80% of share beyond its financial capacity.”

Samsung said, “SHIN did not unilaterally fix the costs of the facility; the valuation was based on industries practice and quotation from third parties.

“The option of project finance was not feasible with respect to the facility as it was a Green field project without any assets and no guarantee could be provided, except Samsung’s own credit. Hence, the option of corporate finances.”
SHI maintained that, “As earlier mentioned, there was no monetary contribution from Total for the development of the facility. Consequently no fraud or misrepresentation by SHIN. This matter has been clarified by Total in writing and resolved before the Senate.

“It is also noteworthy that at conclusion of the hearings, the Senate, in writing, also commended SHIN’s adherence to its local content’s commitments. In any event the matter is before the Court and would be resolved by the Courts in due course.”
It pointed out that, “It is totally untrue that Total paid Samsung any amount for the upgrade of any facilities. LADOL keeps misleading the Public based on its own allegations about EPC Contract terms and conditions of Egina FPSO Project where LADOL has no authority to access the details.


“Total did not make any investment in the yard. Managing Director of Total did indeed make the referenced statement in the said letter of 14 February, 2018. SHIN, conscious of the fact that LADOL may deliberately misapply/misinterpret this statement consequently, issued a letter to Total on the same date of 14 February, 2018, requesting Total to clarify the purpose of the payment towards providing clarity to the Senate and other relevant parties.

“During the second Senate hearing, Total issued a letter clarifying that Total did not make any investment in the development of the fabrication yard, by a letter dated 21 February, 2018, wherein it stated as follows: “In this regards. Company hereby confirms that the amount assigned for the above work unit in the Contract, has been apportioned from the contract lump sum for the sole purpose of progress measurement for effective project management

“This amount shall not be construed as an investment by the Company in the development of SHI-MCI Worksite, given that this development was to be undertaken by a joint venture and the “the entire investment in new fabrication yard will be financed in the ratio of equity and loan from local or international bank to SO percent and 50 percent respectively” as contained in the Contractor’s Nigerian Content Plan”.

“It is indicative of the bad faith of LADOL to cite the letter of 14 February, 2018 and deliberately refrain from citing the letter of 21 February, wherein Total provided clarity on the payment.

The document also claimed that Samsung did not take LADOL equity in SHI, explaining that, “It financed including guarantee for the debt of LADOL’s and built the facility in Nigeria and cannot remove it or carry it away, and so the facility remains Nigerian for all time. The only issue is ownership of the facility, which LADOL is attempting to seize through abuse of its position as the free zone manager.

“The facility was used to execute the Egina FPSO Project and during the peak period SHI-MCI created over two thousands direct employment. Employment capacity of the facility is not tied to ‘ownership’ but availability of the facility.”

Contrary to allegation by LADOL that Nigerians were intentionally excluded the project execution, SHI stated that the contract provided the opportunity for the company to transfer technology to Nigerians.
Specifically, it disclosed that the company trained more than 600 trainees (welders) as part of Human Capacity Development (HCD), adding that, “In addition, under the Capacity Development Initiatives (GDI), 105 Personnel were sent on 6 months training in Korea. SHIN paid LADOL $2.7million to set up training center – in five years; LADOL has not completed the ground work. LADOL is not excluded from the facility. It is a 30% shareholder in the JV which is the entity that is building the local capacity.”


Concerning the sublease contract termination, Samsung disclosed that, “During the settlement period in the year of 2014, SHI-MCI had agreed to pay advance payment of USD 45 million to GRML for the 5 years sublease.

“The tariff in 2011 LADOL provided to SHI-MCI was USD 4 per square meter, which LADOL asserted that was a mistake, skyrocketed to USD 48 per square meter in 2013 and this jumped once again to USD 74 per square meter in 2014, which has been increased 18 times over last 3 years. As shown earlier in the movie, the tariff, USD 74 per square meter, was based on bare land which did not reflect the market value at that time for a bare land.

“For SHI-MCI’s stable operation and cost competitiveness in future EPC projects, SHI-MCI had no choice but to request reasonable tariff for the remaining period of sublease agreement.

“The right to terminate the sublease is expressly stipulated under clause 14 of the sublease agreement. One of the circumstances for termination is for a ‘Material Breach’, which in turn is defined to include a breach of clause 9 (Sub-lessee’s Covenants).

Ladol has only cited an alleged breach of clause 9.6(b), which only deals with situations ‘where the consent or approval of the Sub-lessor [GRML] is required to any act of the Sub-lessee [SHI MCI FZE] under this Sub-lease Agreement.

http://businessandmaritimewestafrica.com/maritime-development/egina-fpso-contract-samsung-accuses-ladol-of-peddling-falsehood
Lalasticlala
PoliticsRe: The Total Number Of Eligible Voters In The 6 Geopolitical Zones In Nigeria by TundeBricklayer: 9:52am On Oct 08, 2018
adanny01:
Hmmmmm

With your view of the polity, an Igbo will always be left behind in the scheme of things.

The 20% you are peddling for Igbos in Kaduna is a mirage. I am from Kaduna. Even if Igbos are 20% like you said, they wont be allowed to vote in 90% of the polling centres.

In most cases, Igbos in these areas stay indoors. They dont join politics and are most times not allowed to come near polling units. The same way Igbos refuse to participate during religious crisis, the refuse to participate in political activities.
Atiku is from North and Muslim unlike GEJ who is a Christian and from south, it's a different ballgame now not 2015.
PoliticsRe: Update on developments in Anambra state-photos by TundeBricklayer: 8:06am On Oct 06, 2018
onuebonyi:
Why did the colonial masters use Onitsha Igbo dialect to write the first Igbo Bible if it weren't superior?
You are the one causing problem here, please stop this your superiority complex among Igbos
PoliticsRe: Update on developments in Anambra state-photos by TundeBricklayer: 5:04am On Oct 06, 2018
Onitsha got Talent audition

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