Gerard Izuora U.S. oil prices rose for a fourth session on Tuesday to near a three-week high hit a day earlier, supported by signs of robust production curbs by OPEC and non-OPEC countries and a slight fall in U.S. production. U.S. West Texas Intermediate crude for April delivery was up 10 cents at $64.01 a barrel even as the contract hit $64.24 on Monday, its highest since Feb. 6. London Brent crude had yet to start trading after settling up 19 cents at $67.50. Saudi Arabian oil minister Khalid al-Falih indicated on Saturday that its crude production would be…
Author: Orientalnews Staff
Source: Bloomberg Lines of cars and trucks snaking around blocks in the center of the Nigerian capital, Abuja, highlight the state’s failure to fix a problem that’s bedeviled Africa’s biggest oil producer for decades: fuel shortages. A new round of gasoline scarcity that’s gripped Africa’s most populous nation since December comes at a bad time for President Muhammadu Buhari’s government. During his campaign to win office in 2015, he promised to solve the problem. With three years of his four-year tenure gone and elections looming next year, there’s little sign he will. “It’s something Nigerians have come to expect,” said John…
Yemisi Izuora US oil and gas major Shell has raised concern of a potential supply shortage developing in the mid-2020s in the global liquefied Natural Gas, LNG, market unless new LNG production project commitments are made soon. Releasing its annual LNG Outlook Shell said that in a context where “LNG buyers continued to sign shorter and smaller contracts”, Japan remained the world’s largest importer of clean gas in 2017, while China moved into second place as Chinese imports surged past South Korea. “Total demand for LNG in China reached 38 million tonnes, a result of continued economic growth and policies…
The Juju Music is witnessing a big shake up; one that will likely shake it to its basic foundation. Ambassador Segun Nabi, the erstwhile Lagos State Chairman (otherwise known as Governor) of the Association of Juju Musicians of Nigeria (AJUMN), has convened a movement, a coalition of forces to take Juju Music back to the forefront in the Nigerian music, show biz and entertainment industry. Segun Nabi, who’s the convener and President of the movement justified the need for the movement saying the younger ones in the Juju music industry are no longer encouraged and motivated to move up…
Hyacinth Chinweuba The Chairman of the All Progressives Congress Governors’ Forum, Governor Rochas Okorocha of Imo State, says President Muhammadu Buhari would soon address the nation on whether he will seek re-election in 2019. Okorocha stated this when he briefed State House correspondents after a closed-door meeting between the President and the APC governors held on Thursday night at the Presidential Villa, Abuja. He said the President would also address the caucus of the APC on the matter. He said: “We discussed so many issues that affect the nation, our party and Mr. President’s ambition to run for 2019 elections.…
Joseph Bakare Former National Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, has declared that the National Assembly cannot take away the independence of the electoral commission through electoral Act amendment. Jega, who spoke at a youth event organised by the Youth Initiative for Advocacy Growth and Development, in Abuja, said that the most important issue in the conduct of elections is the independence of the electoral commission. According to him, the Federal Government and INEC should not hesitate to approach the court to determine the validity of the electoral act amendment bill passed by the National…
Yemisi Izuora The House of Representatives Committee on Banking and Currency has commended the intervention project of the Central Bank of Nigeria at the Administrative Staff College (ASCON), Topo, Badagry, Lagos. Speaking during the oversight visit of the Committee to CBN intervention projects in the South West geo-political zone, the Committee Chairman, Hon. Jones Onyereri, who led other members of the Committee, said that the Committee was impressed with the progress made in delivering on the project and the use of Nigerian contractors in the project “We are impressed because we didn’t think we can get this kind of outcome…
Yemisi Izuora Ekiti State Governor, Mr Ayodele Fayose has expressed concern over the reported abduction of 94 pupils of the Government Girls Technical College, Dapchi, Yobe State, and appealed to the federal government to ensure that the remaining girls are found and stop lying to Nigerians that the Boko Haram insurgency had been “completely defeated.” The governor, who also described the new report by Transparency International (TI) revealing that the perception of corruption in Nigeria worsened between 2016 and 2017, as another vindication of his position that the All Progressives Congress (APC) government of President Muhammadu Buhari was not fighting…
Yemisi Izuora Kaduna State Government has exempted Its teachers from Pay-As-You Earn tax deductions pending when its new salary structure comes into implementation. The states education commissioner Malam Jafaru Sani announced the tax waiver for public secondary and primary school teachers in the state at a press briefing on Thursday in Kaduna. Sani said that the government would from March 2018 stop the deduction of Pay As You Earn from the salaries teachers until the new teachers salary structure for the teachers comes into effect. The commissioner said that the new salary structure was being worked out by the office…
Yemisi Izuora The Council of State has approved a fresh one billion dollars to further boost the nation’s agricultural sector. Briefing Journalists after the meeting, , Governor Ibikumle Amosun of Ogun explained that the amount would enhance the Federal Government’s diversification programmes. The meeting which was presided over by President Muhammadu Buhari had in attendance, three former Heads of State, Gen. Yakubu Gowon, Gen. Abdulsalami Abubakar and former President Olusegun Obasanjo. According to him, an appreciable part of the one billion dollars is expected to be distributed around agricultural schemes, with conditions set out for the beneficiaries to meet before…