NEWS REVIEW FOR MONDAY, JANUARY 21, 2019

OIL & GAS

Oil licensing: Nigeria lags as Angola, others move ahead

While many oil-producing countries, including Angola and Norway, are extending efforts to ramp up their production and reserves, Nigeria has failed to hold any oil licensing rounds since 2007

https://punchng.com/oil-licensing-nigeria-lags-as-angola-others-move-ahead/

 

NNPC’s Insistence on Ending Fuel Importation

Despite likelihoods of a slip, the Nigerian National Petroleum Corporation (NNPC) insists its goal of weaning Nigeria off imported petroleum products, especially premium motor spirit (PMS), otherwise called fuel, would be met. Chineme Okafor wonders if the self-imposed deadline is sacrosanct

https://www.thisdaylive.com/index.php/2019/01/20/nnpcs-insistence-on-ending/

 

Report Reveals How IOCs Steal Nigeria’s Crude Oil

A new report on the age-long crude oil theft in Nigeria has revealed how International Oil Companies (IOCs) in the Niger Delta region steal and siphon large volumes of crude oil from the country undetected by her authorities.

https://www.thisdaylive.com/index.php/2019/01/21/report-reveals-how-iocs-steal-nigerias-crude-oil/

 

NNPC partners African transport union to halt petroleum leakages

The Nigerian National Petroleum Corporation on Sunday said it would collaborate with members of the African Union of Transportation and Logistics Organisation to halt incidents of cross-border leakages of petroleum products.

https://punchng.com/nnpc-partners-african-transport-union-to-halt-petroleum-leakages/

https://www.vanguardngr.com/2019/01/nnpc-mulls-collaboration-to-end-cross-border-fuel-smuggling/

https://www.thisdaylive.com/index.php/2019/01/20/nnpc-enlists-continental-transport-union-to-check-fuel-smuggling/

 

Refinery: FG’ll source forex from Dangote —Emefiele

The Federal Government will soon start sourcing foreign exchange (forex) from Dangote Group, as soon as the latter’s refinery, petrochemicals and fertiliser projects come on stream.
https://www.vanguardngr.com/2019/01/refinery-fgll-source-forex-from-dangote-emefiele/

 

 

Emefiele: Dangote Refinery, Fertiliser Plant Will Transform Nigeria

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has described the $9 billion Dangote Refinery and the fertiliser plants, which are under construction at the Lekki Free Trade Zone, as transformational projects for Nigeria.

https://www.thisdaylive.com/index.php/2019/01/21/emefiele-dangote-refinery-fertiliser-plant-will-transform-nigeria/

 

Benedict Peters : Colossus in murky oil, gas waters

Only a few Nigerian had been able to venture into the Nigerian oil and gas industry, start an exploration and production company from scratch, sustain the business, break even and make profit. One of such Nigerian is Benedict Peters, Founder and Executive Vice Chairman of the Aiteo Group.
https://www.vanguardngr.com/2019/01/benedict-peters-colossus-in-murky-oil-gas-waters/

 

Ijaw group kicks over PTI junior staff recruitment

Ijaw Peoples Development Initiative, IPDI, has called on the Federal Government to probe the recent employment of junior staff by the Petroleum Training Institute, PTI, Uvwie Local Government Area, Delta State.
https://www.vanguardngr.com/2019/01/ijaw-group-kicks-over-pti-junior-staff-recruitment/

 

Oil price hits $62.70, $2.70 in excess of budget benchmark

For the first time in 2019, the price of oil has risen from $60.00 to $62.70 per barrel as Organisation of Petroleum Exporting Countries, OPEC, intensifies efforts to withdraw excess oil from the volatile market.
https://www.vanguardngr.com/2019/01/oil-price-hits-62-70-2-70-in-excess-of-budget-benchmark/

 

FG to probe ASUU expenditure, defends oil subsidy regime

The Federal Government is to investigate past expenditure of the Academic Staff Union of Universities (ASUU).

https://guardian.ng/news/fg-to-probe-asuu-expenditure-defends-oil-subsidy-regime/

 

OTHER NEWS

PenCom plans to commence micro-pension scheme

The National Pension Commission plans to commence the micro-pension scheme for the informal sector.

https://punchng.com/pencom-plans-to-commence-micro-pension-scheme/

 

Minimum wage: FOBTOB seeks adoption of previous committees’ reports

Workers in the food and beverage sector have demanded the adoption of reports of previous committees on national minimum wage, saying it will quicken the passage of the Minimum Wage Bill.

https://punchng.com/minimum-wage-fobtob-seeks-adoption-of-previous-committees-reports/

 

FG, ASUU resume negotiations today

The President of the  Academic Staff Union of Universities, Prof Biodun Ogunyemi, says  ASUU will suspend its 10-week-old  strike if the Federal Government agrees to release   N50bn to revitalise public universities and N20bn  to pay lecturers their allowances in their meeting on Monday.

https://punchng.com/fg-asuu-resume-negotiations-today/

 

The pathetic destiny of pensioners in Nigeria

OUR collective sense of compassion may have become so dulled, overtime, to media reports and media images of emaciated senior citizens, collapsing after waiting endlessly in queues under the hot tropical sun, for verification and payment of pension entitlements.
https://www.vanguardngr.com/2019/01/the-pathetic-destiny-of-pensioners-in-nigeria/

 

Analysts project MPC to maintain status quo despite inflation concerns

THE Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, is expected to retain the monetary policy rate, MPR, at 14 percent as well as other policy rate at the end of its meeting holding this week in spite of concerns over the two month upward trend in inflation rate.
https://www.vanguardngr.com/2019/01/analysts-project-mpc-to-maintain-status-quo-despite-inflation-concerns/

 

Minimum wage will lead to inflation – Sekibo

The Managing Director/Chief Executive Officer of Heritage Bank, Mr. Ifie Sekibo, has said that a new minimum wage will increase liquidity and money supply issues and lead to inflation in the country.

https://www.dailytrust.com.ng/minimum-wage-will-lead-to-inflation-sekibo.html

 

An NSITF without a Board

Five months to the end of the tenure of the present administration, Nigeria Social Insurance Trust Fund (NSITF) has remained without a board to enable it carry out its statutory functions.

https://www.thisdaylive.com/index.php/2019/01/20/an-nsitf-without-a-board/