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