Minister Announces Rescue Of 10 People Kidnapped In Abuja, Kidnappers Routed Out Of Den

November 21, 2016

Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello has announced that all the ten persons kidnapped in the Kuje Area Council of the Territory have been rescued alive by the FCT Security Agencies.
According to him, this was sequel to the joint operations carried out by the FCT Security Agencies in which they successfully routed out the notorious gang of hoodlums who specialize in robbing and kidnapping innocent residents in that area.
The Minister who addressed news men today, Tuesday said that the rescued victims have been handed over to the traditional head, the Gomo of Kuje for immediate rehabilitation.
The victims are Fanus Emmanuel (M), Babangida Emmanuel (M), Akimmi Dauda (F), Japhet Kwasu (M), Dorcas Shuaibu (F), Kemu Cheik (F), Hamza Yunusa (M), Umar Godiri (M), Ismaila Yusuf (M) and Abubakar Gomo (M).
The minister, who was flanked at the news briefing by the FCT Permanent Secretary, Dr. Babatope Ajakaiye, Police Commissioner, Director of DSS, Commandant of NSCDC, representative of the Nigerian Army as well as the Chairman of the Kuje Area Council said that the joint operation comprised of the Police Mobile Force, Operatives of the Command Special Anti-Kidnapping Squad, Department of State Security (DSS), Nigerian Army and the Nigeria Security and Civil Defence Corps.
He said that all the structures of the notorious hoodlums are being dismantled and that the FCT Security Agencies have set up a surveillance mechanism in order not to allow such miscreants operate within the entire 8,000 square kilometers of the Federal Capital Territory.
Muhammad Bello expressed sadness however, that an officer of the NSCDC ASC1 Anumudu Uchewho, took ill during the operation and died. He said that his death would not be in vain as he lost his life in the line of duty to safe the lives of ten other residents of the Territory.
Also speaking during the Press Conference, the FCT Police Commissioner, Mohammed Mustapha assured all those resident in the affected villages that the Police Command has commenced a massive deployment to forestall any future occurrence.
He assured that the Security Agents are presently making concerted efforts to arrest the dislodged hoodlums; noting that no stone would be left unturned to get them to face the consequences of their criminal actions.
It would be recalled that Darka Village in Kuje Area Council was attacked in the early hours of Sunday, 13th November, leaving a 28-year old man, Zakariyya Nuhu dead, and injuring one other with six people kidnapped.
Another neigbouring village of Huni-Gade was also attacked on Thursday, 17th November, where four persons were also kidnapped. [myad]

Recession Lingers As Agriculture, Solid Mineral Show Hope – Bureau Of Statistic

Greenbarge Reporters

November 21, 2016

The National Bureau of Statistics (NBS), has released the third quarter GDP figures, indicating that Nigeria is still deep in economic recession, even as the agricultural and solid mineral sectors are showing consistent growth, indicating hope for quick recovery.
The reports show that vandalism and sabotage of critical installations which negatively affected production output, explained the persistence of the recession, as the non-oil economy posted a very slight growth.
It said that while efforts to resolve the Niger Delta situation are continuing as the Federal Government has opened several channels of communication with all relevant groups in the Niger Delta, urgent fiscal and monetary measures to spur the economy back to overall positive territory, including those targeting manufacturing are in the offing.
In a statement today, Monday, on behalf of the Economic Management Team (EMT), Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu on the latest NBS reports, said: “the third quarter results just released by the National Bureau of Statistics show that the Nigerian economy is still in recession. Growth in Gross Domestic Product fell by -2.24% in the third quarter as compared to the decline of -2.07% experienced in the second quarter.
“The slight deterioration in national economic performance owes largely to the continued poor performance of the oil and gas sector which worsened to -22.01% in the third quarter as compared to -17.48% in the second quarter of 2016. The immediate cause of this, as is now generally recognized, is the steep decline in oil and gas production in the third quarter of 2016 due to acts of vandalism and sabotage of oil export facilities.
“Remote causes include the continued outsized influence of the oil and gas sector on the rest of the economy as typified by its contribution to government revenue and foreign exchange earnings, which continue to be important motors of economic activity. Moreover, due to time lags, it is still too early for policy interventions of the Federal Government to begin to impact fully on economic activity.
“There are however some ‘green shoots’ of economic recovery beginning to emerge.
“To start with, on-going consultations to bring lasting peace to the Niger Delta have enabled an increase in oil and gas production which if sustained at current prices will bring a measure of relief to the economy.
“Other key sectors of the economy showed encouraging signs of improvement.
“The growth in the non-oil economy although still weak at 0.03% showed a return to positive territory after two consecutive quarters of negative growth. This was partly due to the continued good performance of agriculture and the solid minerals, two sectors prioritized by the Federal Government. Agriculture grew by 4.54% in the quarter under consideration of which growth in crop production at nearly 5% was at its highest since the first quarter of 2014. Growth in the solid mineral sector averaged about 7%.
“The financial sector rebounded quite strongly in the period under review growing by 2.85% from a negative growth of -13.24% in the second quarter. The recently approved first tranche of $600m to be borrowed from the African Development Bank will also provide some relief in budgetary terms and supplement capital inflows. Indeed, there was a slight uptick of capital inflows into the economy in the third quarter of 2016 whereas overall capital inflows in the third quarter of 2016 increased by 74.84% over the second quarter.
“The performance of the manufacturing sector continued to be of concern given its key role in value addition and job creation in the economy. It is expected however that with greater local sourcing of raw materials, expected improvements in infrastructure, especially power and reductions in the cost of doing business, this sector will soon experience a sustained improvement in its contribution to the national economy.
“Similarly, while inflation is still high at 18.3% on a year-on-year basis it has begun to level out on a month-on-month basis and should enable the deployment of more policy tools to support growth and employment. Indeed, growth of headline inflation slowed down appreciably from 13.8% in May to as low as 1.70% in September.
“The year to date growth is about -1.58% and is set to improve given some of the points mentioned earlier especially regarding agriculture, oil and gas, and power supply. In addition, there have also been reductions in the rate of contraction of household and government consumption expenditure. Household consumption expenditure fell for instance by -3.25% in the third quarter of 2016 as compared to -6.0% recorded in the second quarter.
“The ratio of investment to GDP also showed a notable improvement rising by 7.6% in the third quarter of 2016 as compared to a contraction of -7.4% in the fourth quarter of 2015.
“The Strategic Implementation Plan for the implementation of the 2016 Budget of Change prioritized capital expenditures for power, roads and rail as well as social investments. In addition to creating jobs and promoting social inclusion, these expenditures will also provide a stimulus by putting money in the hands of people. The usual economic activity that takes place in the Yuletide season will also likely have a positive impact on the wholesale and retail trade sector.
“Overall therefore, it is expected that these factors which will be underpinned by the policies to be unveiled in the Economic Recovery and Growth Plan, ERGP, to be adopted before the end of the year, will lend further momentum to on-going efforts to revitalize and re-position the economy.” [myad]

Obama Describes Trump’s Campaign Rhetoric As Far From Reality In White House

Greenbarge Reporters

November 21, 2016

Outgoing President of the United States of America, Barack Obama has described the campaign rhetoric of his successor, Donald Trump as being far from the reality when he assumes office as President in January 2017.

“My simple point is that you can’t assume that the language of campaigning matches up with the specifics of governing, legislation, regulations and foreign policy.

“I can’t be sure very well, I think like everyone else, we will have to wait and see.” Obama, however, assured that the reality would force Trump to adjust his stance on issues.

“As I have said before, once you are in the Oval Office, once you begin interacting with world leaders, once you see the complexities of the issues, that has a way of shaping your thinking. “Also in some cases, it has a way of magnifying your thinking.

“This is because, you recognize the solemn responsibility not only to the American people but some responsibilities that America has as the largest most powerful country in the world.”

President Obama, who spoke in Lima at his final international news conference as U.S. president after attending the Asia-Pacific Economic Cooperation Forum, said: “I’ve said before, if these issues were easy, that ensuring prosperity, jobs, security, good foreign relations with other countries, if all that was simple, then it would have been done by every previous president.

“I’m a very pretty good presidential historian and I’ve looked at my 43 predecessors. “I’ve seen that for all of them, even the best ones that you end up confronting the realities and I think that is a good thing that is interesting.”

He said that he could not guarantee that the president-elect won’t pursue some of the positions that he has taken.

“But what I can guarantee is that reality will force him to adjust how he approaches many of these issues; that’s just the way this office (U.S. presidency) works.”

The U.S. President, who had been assuring world leaders about a Trump’s presidency until now, however, asked them to adopt a “wait and see” approach about the president-elect.

“What I expect from world leaders is the same thing that I have said in a number of press conferences, which is the president-elect now has to put together a team.

“He has to put forward specifics about how he intends to govern and he hasn’t had the full opportunity to do that yet.

“So people should take a wait-and-see approach in how much his policy proposal, once in the White House once he’s sworn-in, matches up with some of the rhetoric of his campaign.”

On the chance of the Democrats in producing future Presidents, Obama expressed optimism, saying that former Democratic nominee Hillary Clinton won the popular vote.

He, however, said that Democratic Party’s message needed to speak to a broad number of Americans and not limited to a segment, adding, that was the secret of his victories.

Obama’s tenure as the 44th president of the U.S. will end on Jan. 20, 2017, when Trump will be sworn-in as the 45th president.

(NAN). [myad]

It Is Dangerous For Litigants To Chose Judges To Adjudicate On Their Matters – Justice Idris

Greenbarge Reporters

November 21, 2016

“If all judges are to excuse themselves from cases simply because litigants criticized their rulings and judgments, the judiciary would soon find itself in a situation where litigants chose the judges to adjudicate on their matters and this is not in the interest of the law.”
This was the verdict as delivered by Justice Mohammed Idris of the Federal High Court, Lagos, in a case between Ecobank and Honeywell.
Counsel to Ecobank, Mr. Kunle Ogunba (SAN), had applied to the Judge to either excuse himself from adjudicating on the matter or await the decision of the Chief Judge of the Federal High Court, Justice Ibrahim Auta, in respect of Ecobank’s petition against Justice Idris.
As reported in the media, Ecobank wrote to the Chief Judge of the Federal High Court asking that the matter between it and Honeywell be withdrawn from Justice Idris, citing a lack of confidence and bias against Justice Idris.
In response, counsel to Honeywell, Bode Olanipekun informed the court that he only became aware of the petition written by Ecobank in the media on November 16, 2016.
In his ruling against the request by the Ecobank counsel when the case came up for trial, Justice Idris assured the parties that he would exercise fairness and impartiality in the discharge of justice in the matter.
The judge adjourned the case to December 1, for trial. [myad]

Buhar Flies To Equatorial Guinea For Africa-Arab Summit Wednesday

Greenbarge Reporters

November 21, 2016

President Muhammadu Buhari is scheduled to fly to Malabo, Equatorial Guinea on Wednesday, November 23rd, to attend the 4th Africa-Arab Summit.
A statement today, Tuesday, by the special adviser to the President on media and publicity, Femi Adesina said that the summit will be attended by Heads of State and Government from Gulf and African countries, and will endorse the Malabo Declaration and Action Working Plan for 2017-2019 to promote trade and economic ties.
The statement said that the two-year plan had sought to implement priority projects in trade, investment, transportation, communication and energy in Africa.
It said that apart from attending the Summit, President Buhari wil also hold discussions with Arab leaders, aimed at reviewing agreements to strengthen partnerships that bolster agriculture and infrastructure development in Nigeria through long term concessionary loans and technological skills transfer.
It said that President Buhari will also explore the opportunity of the summit to seek support for the ongoing fight against Boko Haram and the humanitarian situation in the North east.
“Jointly organised by the African Union Commission and the League of Arab States, the summit focuses on promoting development by strengthening trade, investments, transport, communication and energy among Gulf and African states.” [myad]

2016 World Day Of Remembrance For Road Crash Victims, By Chude Ojugbana

Greenbarge Reporters

November 20, 2016

Truly, life has its special way of producing reasonable and unreasonable coincidences or even a mix of both, depending on how one’s lenses are polarized.

Specifically, about a week before the November, 20th commemoration of 2016 World Day of Remembrance (WDR) for road crash victims, as the Management of Nigeria’s lead agency on road safety, Federal Road Safety Corps (FRSC) was busy effectively co-ordinating activities in respect of annual memorials for road crash victims and drawing public attention to the huge preventable road deaths, suddenly, a worrisome headline appeared in many Nigerian newspapers, “Missing Nigerian Journalist Found Dead.”

According to a major online media, Sahara Reporters, “Mr. Adeparusi left his Kugbo, Abuja apartment on his motorcycle at around 1:00 p.m on Sunday. After not returning home, Mr. Adeparusi’s neighbours, friends and colleagues placed several calls to his mobile phone that went unanswered. His employers, Naij.com noted that this was unusual, as Mr. Adeparusi was a “very professional and clear-headed individual; not the kind of person to wander off.” He was subsequently declared missing and was found dead on Tuesday in an apparent motorcycle accident”.
The sad narrative of the late Adeyinka Adeparusi, a renowned photojournalist who died on the spot of the road crash and his later discovered in a morgue in Abuja is not an isolated case. It happens every day on the roads of Nigeria and in most African countries. Adeparusi’s death coming in the week of 2016 WDR which is dedicated to improving vital post crash actions with emphasis on Medicare, Investigation and Justice should not be dismissed as mere coincidence but a disturbing urgency that calls for a candid reflection on the plight of an average African road user that is usually denied of all the above mentioned necessities in the event of a road crash.
As Nigeria joins other governments and nongovernmental organizations around the world to commemorate the 2016 WDR by remembering the millions of lives lost or hurt by traffic crashes, the awful truth is that after eleven years of UN recognition and 21 years of observance of Remembrance Day by road safety interest groups, these important events are yet to attract appropriate political will of the Nigerian government on its worrisome road tragedies. Yet, Nigeria remains a country where every road user is a probable road victim with long list of Policy makers including Ministers, Federal Legislators, Governors, top government officials and their family members lost to preventable road deaths.
It is fair and good to recognise that Nigeria has a purposeful National Road Safety agency, FRSC that its staff and Management have demonstrated knowledge for addressing road traffic injuries especially with innovations and expressed best efforts but what is the capacity of the agency in terms of human, facility and financial resources to address the needs of over one hundred and forty million Nigerian road users. Candidly put, as we remember the hundreds of thousands of road deaths in Nigeria on this 2016 WDR especially those that occurred in the year including the late Ocholis, former Minister of State for labour, the two children of a serving Senator, many innocent youths, noble Nigerians and loved ones that their lives were abruptly terminated through road crashes, it is hard to be satisfied with the level of attention extended to the disturbing road death statistics by all tiers of government especially given that road crashes claim more lives on daily basis than any known insurgence or war situation in Nigeria’s post independence. How did the Nigerian road safety crisis get to this depressing situation and what can be done, one may ask? Certainly, it is a shared blame that requires a collective response approach by all stakeholders including all road users.
Sadly, given the many challenges that confront Nigeria in recession, what is increasingly clear is that the road safety situation may get worse if necessary remedial steps are not speedily taken. Indeed, as with every recession, vehicles will not be well maintained, roads will experience increasing deterioration and the commercial driver population will drastically increase as many workers in Nigeria have already found it expedient to use their personal cars to augment their income. With such a situation that puts more pressure on our roads and over stretches the limited facilities of the FRSC with negative consequences of increased road crashes, there is great need for the Nigerian government and its citizens to speedily embrace the recommendations of the 2016 WDR in strengthening vital post crash actions by enhancing rescue facilities for the FRSC and expanding capacity of those that can provide care for road crash victims.
However, with Nigeria in a recession era, it is difficult to imagine that the FRSC, an age long underfunded agency will be protected from the effects of the massive contraction on government spending. Thus, we must expand our thoughts on how to take care of crash victims whilst urging the Presidency and Legislature to explore cum encourage innovative funding options for road safety in a manner which will ensure that all those that make commercial gains from road development and road use should compulsorily fund road safety including companies that contribute to increased motorization and alcohol beverage manufacturers that grossly increase road risks.
On the specific call by 2016 WDR for enhanced Medicare for road crash victims, the FRSC and the Federal Ministry of Health have done well to address the problem of hospital rejection but what about victims that need prompt attention on road crash scenes? On this, there is no reason for road users to allow Nigeria’s temporary economic decline to destroy their Good Samaritan instinct in helping people in need at road crash spots. This is where it becomes necessary to restate that the earlier recommendation of the 2007 Accra Declaration on road safety for compulsory First aid knowledge by drivers and the call by Nigeria’s Minister of State for Health, Dr. Osagie Ehanire to make persons who apply for driver’s license for the first time to undergo a ‘First Aid course’ before being issued a license is overdue for implementation especially in such recession period. On this, the need for the Ministry of Health to encourage all NGO’s working on other health related issues to support the FRSC on first aid training for persons that live in communities along major highways is an urgent call that will assure that first care and response for crash victims are not left as burden for only FRSC officials.
In a country like Nigeria that road traffic injuries have become top killer disease where there is increasing number of persons that leave their homes to use the roads but never return, some are later declared missing or found in the morgues, ignoring the theme of 2016 WDR will further worsen a situation that affects all. The present huge statistics on preventable road deaths which is major threat to the nation’s ambition to meet the Sustainable Development: SDG target 3.6, which aims to reduce global road traffic deaths and injuries by 50% by 2020, should be a major concern for every road user.
The commemoration of 2016 World Day of Remembrance in Nigeria will be incomplete without advocating and appealing to President Muhammadu Buhari, a Nigerian leader that enjoys the trust and confidence of the International Community to lend his voice on the sad issue of preventable road deaths. Indeed, President Buhari’s call on global partners of the UN Decade of Action on Road Safety, major International Donors, Jean Todt, UN Special Envoy for Road Safety and local philanthropists to support his government’s good intentions will not only help change the complexion of road safety funding but help reverse the statistics of Road Traffic Injuries in African’s most populous nation.
May, the souls of Adeyinka Adeparusi and the many innocent victims of our past collective disappointment on road safety, rest in peace!
Chude Ojugbana is a Project Adviser, PATVORA Initiative Road Safety NGO & Country Ambassador, International Road Federation, IRF. Geneva. [myad]

FG Employs 200,000 Graduates, To Start Earning N30,000 Monthly Salaries From December

Greenbarge Reporters

November 20, 2016

The Muhammadu Buhari government has finally employed 200,000 graduates for the government’s N-Power Corps programme, to be trained in skills that will enable them exit after two years to economically viable job and business opportunities.

Participants will be provided teaching, instructional, and advisory solutions in four main focus areas, and will be paid a monthly stipend of N30,000 during the programme. The four main focus areas are in basic education, agriculture extension services, public health and community education (civic and adult education).

A statement from the senior special assistant to Vice President Yemi Osinbajo on media and publicity, Laolu Akanded said that the deployment of the 200,000 unemployed graduates selected in the first batch has been selected and that their names have now been sent to state governments and the FCT for deployment to specific programme assignments.

The statement said that the names of the successful ones would also be published this week on the N-Power internet portal, while the participants would start receiving SMS messages informing them of their selection as from tomorrow, Monday.
It said that state governments and the FCT are encouraged to post the names of the successful first batch applicants in their local government areas while there would be further public announcements.
It said that between now and the end of the month, the states and the FCT would be engaged in deploying the graduates who would formally start working and earning their stipends on December 1, 2016.
“Of the 200,000 first batch, 150,000 of them would teach, 30,000 would work in the Agric sector and 20,000 in Healthcare delivery covering the three specific programme assignments.
“The N-Power Volunteer Corps is an expression of President Muhammadu Buhari’s commitment to invest in the human capital development of Nigerian citizens, particularly our young people. The N-Power programmme is also an innovative means to enhance ailing public services in the area of basic education and primary healthcare. Also in the agric sector, it is aimed at achieving self-sufficiency by giving our farmers relevant advisory services.
“The Federal Government of Nigeria hereby congratulates all 200,000 successful applicants in the first batch, and they are encouraged to take this opportunity seriously by learning the skills that will brighten their future. They are also implored to serve their communities with commitment and dedication.
“For those who have not been selected at this time, there is a waiting list based on the total number of applicants, and subsequent batches will absorb more of the qualified applicants.
“All together, the N-Power will engage and train 500,000 young unemployed graduates. It is a paid volunteering programme of a 2-year duration that engages graduates in their immediate communities, where they will assist in improving the inadequacies in the education, health, and agriculture sectors.
“As part of the programme, the participants would own tablets that will contain information necessary for their specific engagements, as well as information for their continuous training and developments.
“Besides the N-Power programme for undergraduates, there are other schemes for non-graduates. These are: N-Power Knowledge, which would select 25,000 young Nigerians and N-Power Build 75,000, all of whom shall be trained and paid during the duration of the scheme.” [myad]

Nigeria Army’s Operation Crackdown Will Soon Take Over Sambisa Forest From Boko Haram

Greenbarge Reporters

November 20, 2016

The Chief of Defence Staff, General Gabriel Olonisakin, has said that the move to take over the Sambisa Forest from the notorious Boko Haram insurgents has commenced with the establishment of an operation tagged: “Operation Crackdown.”
General Olonisakin who fielded questions today, Sunday in Maiduguri, the capital of Borno state, from newsmen after he inspected some military fighting equipment at the headquarters of the Threatre Command, Operation Lafiya Dole, said that alongside the operation crackdown, “Operation Safe Corridor Initiative,” has been put in place for the terrorists to surrender.
“That is the corridor for them, terrorist to surrender. That corridor is always open. However, we will not wait until they surrender, that is why operation crackdowns, to ensure that we take over the Sambisa, clear the terrorists from those places and make the place safe for development.”
The Chief of Defence Staff said that he was in Maiduguri for operational visit to encourage the troops to continue the fight and commend their efforts so far.
He also commended the Chief of Army Staff, Lieutenant General Tukur Buratai, for ingenuity and creativity in the war against insurgency in the North East.
Before embarking on the inspection, the Chief of Defence Staff had met behind closed doors with the Chief of Army Staff; Commander, Theatre Command, Major General Lucky Irabor, and senior military officers at the headquarters of the Threatre Command.
General Olonisakin also visited wounded soldiers at the 7 Division Hospital at Maimalari Cantonment. [myad]

Lagos Picks 60 Secondary School Students As Potential Wrestlers

Greenbarge Reporters

November 20, 2016

No fewer than 60 secondary school students have emerged as potential wrestlers in Lagos in a three-day Closed wrestling Workshop/Championship organized by the Lagos State Wrestling Association in Epe Division.
The students from about 16 schools in Epe Division were discovered after they were taking through the rudiments of the combat sport which included male freestyle, Greco Roman and female freestyle in the junior and senior categories of the competition that featured about 300 students at Odo Obara High School, Epe.
The Director General of Lagos State Sports Commission, Mr. Adewunmi Ogunsanya described the performance of the budding talents as exceptional, adding that if they could performed excellently well within three days of exposure to wrestling, they would do better after a long period of exposure to the game.
“What we’re doing is to genuinely focus on grassroots development of sports because this is where the talent abounds. The performance of these young wrestlers shows that they have the potentials to make it and improve in the game. We are going to do similar thing in other divisions. The association will take over the tutoring of these 60 wrestlers,” Ogunsanya said.
The Director General emphasized that in the long run Lagos State planned to have in its pool young and promising athletes who will be nurtured to become future stars of not only the state but for the country.
To the Chairman of Lagos State Wrestling Association, Prince Adenekan, there is urgent need for government, private organizations and individuals to support the development of wrestling in Lagos.
Awards and prizes were given to outstanding students wrestlers at the end of the competition. Ikudehindu Abiodun, SS 3 student of Ogunmodede Senior College, Epe was adjudged the best male wrestler, while Ochiko Abraham, a SS 3 student of Army Children Senior High School, Epe was adjudged the best female wrestler of the tournament. [myad]

NNPC, Shell Sign MoU With Nigerian Banks For $2.2 Billion Contractor Financing Support

Greenbarge Reporters

November 20, 2016

Shell Companies in Nigeria, supported by the Nigerian National Petroleum Corporation (NNPC) has signed Memoranda of Understanding (MoU) with eight Nigerian banks under the refreshed Shell Contractors’ Support Fund to improve access to finance for Nigerian vendors and suppliers in the oil and gas industry.

A statement by the Corporate Media Relations Manager of the NNPC, Precious Okolobo, said that under the MoU, signed in Lagos in November, Access Bank, Skye Bank, Zenith Bank, Stanbic IBTC Bank, First Bank, Standard Chartered Bank, First City Monument Bank and Guaranty Trust Bank have set aside $2.2 billion for contract execution by Nigerian firms.

The statement said that the scheme provides support for contractors to enable them finance projects executed for Shell Companies in Nigeria in line with the aspirations of the Nigerian Content Act. To access these funds, the contractors must have a valid purchase order and meet the banks’ risk assessment criteria. This refreshed version is in response to market realities and will offer loans faster and at cheaper rates.

The statement quoted the Managing Director of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, as saying: “supporting SMEs under this scheme is for the mutual benefit of all the parties.

“While the scheme reduces the pressure from requests for advance payments from contractors on us, it also ensures optimum delivery by our contractors, leaving the banks with a de-risked client base in addition to the comfort of domiciliation of payments.”

Finance Manager, Nigeria and Gabon, Guy Janssens, was also quoted in the statement as saying: that funding is key to enable contractors deliver and grow even as he urged the banks to make the scheme work.

Also, the Managing Director, Shell Nigeria Exploration and Production Company (SNEPCo) Bayo Ojulari, advised the contractors to perform in order build trust and grow even as the Group General Manager, NAPIMS, Dafe Sejebo, who was represented by Bunmi Lawson, implored the banks to make the loan facilities available to the vendors when they come for them.

In the same vein, the Chairman of the Petroleum Technology Association of Nigeria (PETAN) , Mazi Bank-Anthony Okoroafor, enjoined the banks to be realistic in their demands in order to engender easier access to the funds.

Responding, one of the Contractors, Moritz Abazie of Strides Energy and Maritime Limited requested that the rates charged should be comparable to that for credit sourced overseas so that they could fairly compete with foreign firms in bidding for jobs.

The idea of a Contractor Funding Scheme started in 2011 with the Shell Kobo Fund, which gave rise to the Shell Contractor Support Fund in 2012. The scheme has been redesigned to address the current economic exigencies and to align it with stakeholder needs by merging the two initial initiatives. To date, the six participating banks have disbursed a total of $1billion to over 220 vendors.

In 2015, 93 percent of all contracts awarded by Shell Companies in Nigeria were undertaken by Nigerian companies amounting to US$0.9 billion. [myad]

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