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Wednesday, 3 February 2016
Direct Sale-Direct-Purchase of crude oil products saves FG $1 billion- Dr. Kachikwu
The Minister of State for Petroleum/Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Ibe. Kachikwu, yesterday appeared before the House of Representatives’ Ad-Hoc Committee set up to investigate the NNPC’s offshore processing and crude swap arrangement for the period from 2010 to date stating that the Federal Government did not pay any subsidy on petroleum products in January 2016.
He also said that the country would save $1 billion from the newly introduced Direct-Sale-Direct-Purchase, DSDP, arrangement in Nigeria’s crude oil for products transaction which is supposed to start next month
He explained that the DSDP was adopted to replace the Crude Oil Swap initiative and the Offshore Processing Arrangement in order to introduce and entrench transparency in the crude oil for product transaction by the corporation in line with global best practices.
Kachikwu stated that the DSDP option eliminated all the cost elements of middlemen and gave the NNPC control of sale and purchase of crude oil transaction with its partners, thereby saving one billion dollars for the Federal Government.
He said:
“When I assumed duty as the Group Managing Director of NNPC, I met the Offshore Processing Arrangement (OPA) and like you know, there is always room for improvement.
“I and my team came up with the DSDP initiative with the aim of throwing open the bidding process. This initiative has brought transparency into the crude-for-product exchange matrix and it is in tandem with global best practices.”
Vanguard
He also said that the country would save $1 billion from the newly introduced Direct-Sale-Direct-Purchase, DSDP, arrangement in Nigeria’s crude oil for products transaction which is supposed to start next month
He explained that the DSDP was adopted to replace the Crude Oil Swap initiative and the Offshore Processing Arrangement in order to introduce and entrench transparency in the crude oil for product transaction by the corporation in line with global best practices.
Kachikwu stated that the DSDP option eliminated all the cost elements of middlemen and gave the NNPC control of sale and purchase of crude oil transaction with its partners, thereby saving one billion dollars for the Federal Government.
He said:
“When I assumed duty as the Group Managing Director of NNPC, I met the Offshore Processing Arrangement (OPA) and like you know, there is always room for improvement.
“I and my team came up with the DSDP initiative with the aim of throwing open the bidding process. This initiative has brought transparency into the crude-for-product exchange matrix and it is in tandem with global best practices.”
Vanguard
Tuesday, 2 February 2016
INEC fixes dates for rerun elections into N’ASS, state assemblies
The Independent National Electoral Commission on Tuesday announced dates for the conduct of rerun elections into federal and state constituencies and senatorial districts across the country.This followed the nullification of about 80 elections in 16 states of the federation by the Court of Appeal.
All the affected elections, according to the commission, are to hold between February 13 and March 19, 2016.
Notice of the rerun election was contained in a statement issued and signed by the Secretary of the Commission, Mrs. Augusta Ogakwu.
All the affected elections, according to the commission, are to hold between February 13 and March 19, 2016.
Notice of the rerun election was contained in a statement issued and signed by the Secretary of the Commission, Mrs. Augusta Ogakwu.
Tope Aluko, who made allegations on the 2014 Ekiti election says his life is now in danger
Former Ekiti state PDP Secretary Tope Aluko, who made startling revelations about the 2014 governorship election in Ekiti state on Channels TV last Sunday says his life is now in danger following the allegation. He alleges that Ekiti state governor, Ayo Fayose, has given orders to some miscreants to get rid of him at all cost.
Dabota Lawson files for divorce from husband Sunny Aku
Former beauty queen Dabota Lawson has filed for divorce from her husband Sunny Aku.
According to popular blogger Stella Dimokokorkus, Dabota Lawson has officially filed for divorce from her husband of two years because she can no longer 'live in fear of the unknown'.
In the report, Dabota Lawson moved out of her matrimonial home over four months ago. In the divorce papers Dabota Lawson revealed that Sunny Aku was still technically married when they had their wedding in December 2014. As a result of this revelation she cannot continue the marriage.
According to popular blogger Stella Dimokokorkus, Dabota Lawson has officially filed for divorce from her husband of two years because she can no longer 'live in fear of the unknown'.
In the report, Dabota Lawson moved out of her matrimonial home over four months ago. In the divorce papers Dabota Lawson revealed that Sunny Aku was still technically married when they had their wedding in December 2014. As a result of this revelation she cannot continue the marriage.
Dasuki’s trial stalled again
The trial of the immediate past National Security Adviser, Col. Sambo Dasuki (retd.), and his co-defendants for alleged diversion of N13bn, part of funds said to be meant for procurement of arms, was stalled before Justice Peter Affen of the Federal Capital Territory High Court in Maitama, Abuja, on Tuesday.
Tuesday’s proceedings could not go on due to the failure of the operatives of the Department of State Service to produce the ex-NSA in court on time and the need for the other co-defendants to respond to an application by Dasuki to stop the trial.
Tuesday’s proceedings could not go on due to the failure of the operatives of the Department of State Service to produce the ex-NSA in court on time and the need for the other co-defendants to respond to an application by Dasuki to stop the trial.
Chelsea releases statement on John Terry
After John Terry announced that he will be leaving Chelsea at the end of the season. He said he would not be receiving a new one from the club, which surprised many Chelsea fans. But reports coming from Chelsea Football Club indicate they never at anytime made it clear to him that they won't be renewing his contract. They only told him that nothing is on the table at the moment. So maybe Terry made his emotional statement on Sunday with the hope that Chelsea will give him a new contract after the club is castigated by fans. See Chelsea’s statement after the cut...
I didn't negotiate with fake Boko Haram-Jonathan
Following claims by the present administration that former president ,Goodluck Jonathan's administration negotiated with fake Boko Haram members,Jonathan has rubbished those claims.Speaking recently the press centre of the Cercle DIPLOMATIC in Geneva,he said
We did not negotiate with fake Boko Haram. I agree that within that period, especially whenever there was a problem, people volunteered all manner of assistance. It is just like what, my successor, President Buhari said in a recent media chat that if his government gets credible leaders of the sect, they would be willing to discuss with them.
We did not negotiate with fake Boko Haram. I agree that within that period, especially whenever there was a problem, people volunteered all manner of assistance. It is just like what, my successor, President Buhari said in a recent media chat that if his government gets credible leaders of the sect, they would be willing to discuss with them.
Why we transferred Fr Mbaka —Catholic Church
The Catholic Church has explained the reason for the transfer of controversial Catholic priest, Rev. Father Ejike Mbaka from Enugu to Emene.
The Church said the essence of his transfer was to make him more useful for the Lord.
In a reaction through the Secretary-General of the Catholic Secretariat of Nigeria, Reverend Father Ralph Madu, yesterday, the church said the posting was not meant to be punitive but a “normal church procedure.”
The Church said the essence of his transfer was to make him more useful for the Lord.
In a reaction through the Secretary-General of the Catholic Secretariat of Nigeria, Reverend Father Ralph Madu, yesterday, the church said the posting was not meant to be punitive but a “normal church procedure.”
Govs live like emperors, divert council funds –Obasanjo
Former President Olusegun Obasanjo yesterday,Feb 1 point accusing fingers to some state governors in the country of living like emperors while demanding sacrifice from the citizens for Nigeria to survive the prevailing hard times.
Obasanjo spoke at the inaugural conference of the Ibadan School of Government and Public Policy at the University of Ibadan, where he was the chairman on the occasion.
Obasanjo spoke at the inaugural conference of the Ibadan School of Government and Public Policy at the University of Ibadan, where he was the chairman on the occasion.
Basketmouth signs endorsement deal with Swedish company, Rebtel
Basketmouth has just signed another endorsement to become the face of Sweden based communication company, Rebtel.
He flew in to Sweden a few weeks ago to finalise the deal.Rebtel is a Swedish VoIP company founded in 2006 by Hjalmar Winbladh and Jonas Lindroth. Its services include international calling, messaging and mobile money delivered in apps for Android, iPhone and Windows Phone. – Wikipedia
Just of recent he sign an endorsement with malta Guiness
He flew in to Sweden a few weeks ago to finalise the deal.Rebtel is a Swedish VoIP company founded in 2006 by Hjalmar Winbladh and Jonas Lindroth. Its services include international calling, messaging and mobile money delivered in apps for Android, iPhone and Windows Phone. – Wikipedia
Just of recent he sign an endorsement with malta Guiness
Olamide poses with Ooni of Ife
Nigerian rapper, Olamide is becoming a regular feature among top notch societal personalities and government personalities.
Olamide was captured in a picture fit to be titled ‘three kings’, which showed him comfortably seated between the Ooni of Ife, Enitan Ogunwusi and His Royal Majesty, Oba Saheed Ademola Elegushi.
Olamide was captured in a picture fit to be titled ‘three kings’, which showed him comfortably seated between the Ooni of Ife, Enitan Ogunwusi and His Royal Majesty, Oba Saheed Ademola Elegushi.
Jay Z's label Roc Nation sues Rita Ora for $2.4 million
Jay Z's label Roc Nation has sue Rita Ora Months after she filed a lawsuit against Jay Z’s label Roc Nation for neglecting her music, the company has filed a $2.4 million counter suit.
In her lawsuit filed in December, Ora accused Roc Nation of not letting her release new music.Rita Ora was supposed to release five albums with Roc Nation after signing to them in 2008.So far,only one has been released ..
Now,Roc Nation is now counter suing to recoup the $2.4 million they claim to have poured into marketing for Ora’s still unreleased sophomore album.
TMZ reports (emphasis mine):
The label claims it signed Rita in 2008 when she was unknown and invested millions in her career. In return she had to deliver 5 albums, but the label says it only got one.
Jay Z is allegedly willing to release Ora from the label, according to her attorney Howard King.
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In her lawsuit filed in December, Ora accused Roc Nation of not letting her release new music.Rita Ora was supposed to release five albums with Roc Nation after signing to them in 2008.So far,only one has been released ..
Now,Roc Nation is now counter suing to recoup the $2.4 million they claim to have poured into marketing for Ora’s still unreleased sophomore album.
TMZ reports (emphasis mine):
The label claims it signed Rita in 2008 when she was unknown and invested millions in her career. In return she had to deliver 5 albums, but the label says it only got one.
Jay Z is allegedly willing to release Ora from the label, according to her attorney Howard King.
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