About two weeks to the exit of President Goodluck Jonathan’s government, the Federal Executive Council (FEC) which he heads, is still persisting in the awards of contracts. The FEC, which is made up of mainly all the ministers and other operatives of the Presidency, today, approved three road construction contracts in the South South zone of the country and one in Ondo state, South West, to the tune of about N30 Billion. Briefing newsmen shortly after the meeting today, the minister of Niger Delta, Dr. Steve Oru said that the roads would be constructed in various locations in Bayelsa state, including Yenagoa, the state capital, at the cost of over N8.8 Billion. The ones awarded in parts of Ondo state would gulped N15.628 Billion and the ones in parts of Delta state would cost N6.675 Billion. Also briefing the newsmen, the Interior minister, Abba Moro said that contract for the production 10 million e-passport, including 32-page, 64-page and Diplomatic passports has been re-awarded to Irish Technology Limited The new briefing was coordinated by the minister of information, Senator Patricia Akwashiki.
The president-elect, General Muhammadu Buhari, has made it clear that he has no particular Senator in mind to become the Senate President and that he is willing to work with any them that eventually clinch the post, irrespective of what part of the country he or she originates from. In a statement in Abuja today, General Buhari described as false, insinuations in the media that he was in support of any particular Senator emerging as Leader or that he belonged to any camp pushing for the emergence of a leader from a particular part of the country. “I am prepared to work with any leaders that the House or Senate selects. It doesn’t matter who the person is or where he or she is from.” Buhari noted that the insinuations were probably born out of people’s expectations based on the way things had happened in the past, but reminded Nigerians that CHANGE had truly come. “There is due process for the selection of leaders of the National Assembly and I will not interfere in that process.” General Buhari said that the media and the public should begin to get used to no more “business as usual. “Nigeria has indeed entered a new dispensation. My administration does not intend to repeat the same mistakes made by previous governments.”
The National Coordinator of the Oodua People’s Congress, Otunba Gani Adams, has said made it clear that General Muhammadu Buhari owes it an obligation to Nigerians to implement the report of the National Conference held last year. Adams, who is also the Convener of the Oodua Progressive Union (OPU), an association of the Yoruba and people who believe in the Yoruba cause in the Diaspora, said in Dubai, United Arab Emirate that the next phase of his struggle is the implementation of the report. Adams, who was a member of the Confab, said the report of the conference, convened by outgoing President Goodluck Jonathan, contained far reaching decisions that are capable of turning around the fortunes of the country if genuinely and sincerely implemented. He said that despite the fact that Jonathan who convened the Confab was leaving power, it would be uncharitable for the report to be thrown away by the incoming Buhari administration. “Throwing the report away will amount to throwing away the baby with the bath water. “We have a report put together by men and women from diverse backgrounds but with sincerity of purpose to move the country forward. “My observation throughout the conference was that once we entered into the venue, we put our differences, nuances and biases behind us and discuss as people who truly have the interest of Nigeria and Nigerians at heart.” Adams said that the most critical aspect of the conference report should be the implementation of true federalism in the country. One of the critical recommendations of the report of the conference, which gulped over N7 billion, was the institutionalisation of federalism in the country. “Even if that happens to be the only aspect we implement, others are going to fall in place naturally. “We as Yoruba race will push vigorously for the implementation of the report of that conference. “It is, perhaps, going to be the next phase of the struggle in Nigeria as the incoming government of General Muhammadu Buhari will be encouraged to implement the report, which is capable of putting Nigeria back on track fully.”
The Nigeria Police Council has confirmed Solomon Arase as the substantive Inspector-General of Police. Arase was appointed by President Goodluck Jonathan after removing the former Inspector-General of Police, Suleiman Abba in April 2015. The new IG, who spoke with newsmen at the State House shortly after his confirmation, said that his main task would be to upgrade the welfare of members of the Nigerian Police Force. According to him, motivation is a key to increase productivity which is why he has made it a topmost priority. The Police Inspector-General gave an assurance that he would bring crime rate to the lowest minimum even as he promised not to renege on his earlier commitment towards ensuring road block free highways in Nigeria. The IGP had warned during a meeting with Commissioners of Police in Abuja that the command of any jurisdiction where roadblocks are found would be held liable and swiftly dealt with in line with Police rules and regulations. According to him, a 16-team task force has now been mandated to comply with his directives on the removal of the road blocks which he had earlier referred to as public nuisances and points of corruption. Arase holds Bachelors and Masters Degrees in Law, Political Science and Strategic Studies. He is also a Fellow of the Nigerian Defence College.
Past and present Nigeria Presidents and military Heads of State have put heads together to properly plan the inauguration of General Muhammadu Buhari on May 29 as President of the Federal Republic of Nigeria. Already, invitations have been sent out to G8 Presidents, ECOWAS Presidents and other world leaders, even as activities for the inauguration have been lined up. Rising from a valedictory meeting today, members of the National Council of State (NCS) decided to rally round out-going President Goodluck Jonathan to ensure a successful inauguration which is expected to begin on May 22. Those who attended today’s NSC meeting, presided over by President Jonathan, were General Yakubu Gowon, Chief Olusegun Obasanjo, Alhaji Shehu Shagari, General Muhammadu Buhari, General Ibrahim Badamasi Babangida, Chief Ernest Shonekan and General Abdulsalami Abubakar. Most of the state governors, Secretary to the Government of the Federation (SGF), Senator Anyim Pius Anyim and others were in attendance. Briefing newsmen shortly after the meeting, governors Gabriel Suswam and Babangida Aliyu said that members of the Council commended President Jonathan for setting the tone of the future electoral behaviours amongst the leaders. The former leaders wanted leaders conceding defeat in elections to be made as part of the nation’s political tradition, even as they emphasised the need for the functionaries of Jonathan administration to prepare proper hand over note which would be made on May 28. The Council was also briefed by the National Security Adviser (NSA), Sambo Dasuki on the fight against Boko Harma. He assured the Council members that Sambisa forest, which extends to part of Mali, would be cleansed of the Boko Haram insurgents before the May 29 inauguration.
President Goodluck Jonathan, President-elect, General Muhammadu Buhari and former Nigeria Vice President Atiku Abubakar have paid glowing tributes to the eldest son of late Nigeria’s first President, Dr. Nnamdi Azikiwe in the person of Chief Chukwuma Bamidele Azikiwe who died yesterday. In a condolence message to the family of late Dr. Azikiwe and government and people of Anambra State, President Jonathan said that the late Azikiwe, who was also the Owelle Onitsha, lived a fulfilled life by sustaining the humanitarian and leadership legacies of his father as a mobiliser, leader, philanthropist and a highly respected voice in his community. The President prayed to God to grant the soul of the deceased peaceful rest, and comfort the family he left behind. The President-elect, General Buhari also in a condolence message described the death of Ambassador Chukwuma Azikiwe as a sad development and that it was an exit of a great Nigerian who was brought up in the best tradition of national unity and genuine African values. Buhari said that with the demise of Chukwuma Azikiwe, “a gentleman has left a turbulent world.” He said that Ambassador Azikiwe was a thorough –bred Nigerian citizen who chose a private life after a distinguished diplomatic career in Nigeria’s Foreign Service. According to the President-elect, it was Ambassador Azikiwe’s humane and refined qualities that made it possible for him to step into “the big traditional shoes of his great father – Dr. Nnamdi Azikiwe as the Owelle of Onitsha.” He noted that with the demise of the Owelle, he had lost a friend who cared for him and often found the time to visit him in Kaduna. While condoling with the Azikiwe Family, General Buhari urged the Obi of Onitsha, Igwe Nna’meka Ugochukwu Achebe and the entire people of Onitsha Royal Kingdom to take heart and bear the loss with fortitude. Similarly, former Vice President Atiku expressed shock at the death of Ambassador Chukwuma Azikiwe Atiku said that Chukwuma Azikiwe epitomised the very best of the late Zik’s zeal and passion for a united Nigeria. “He gave him a Yoruba name despite being of Igbo bacground and supported his pursuit of a career in Nigeria’s Foreign Service.” Atiku who is Turaki Adamawa said that Ambassador Azikiwe belonged to the vanishing tribe of Nigeria’s core diplomats who steered the ship of Nigeria’s foreign policy during the difficult times of Nigeria as a frontline state struggling for the decolonisation of the African continent. The former Vice President condoled the Obi of Onitsha, Igwe Nna’meka Achebe and the entire Onitsha people on the sad exit of the Owelle and prayed to God to grant his soul eternal rest.
The President Jonathan and president Elect, Muammadu Buhari’s transition committees have said that members of the two committees are working in harmony and that there is no conflict as recently reported in some media.
The two committees whose members met today at the Presidential Villa, Abuja, strong denied that there was a rift between them.
The committees, headed by Vice President Namadi Sambo for the out going government and Ahmed Joda for the in-coming government have been at each others neck with the All Progressives Congress (APC) recently accusing the Presidency of not cooperating with the Joda-led committee, an allegation denied by the Namadi Sambo-led committee.
Alhaji Joda who led some members of his committee to meet with the Namadi Sambo committee told newsmen that his committee had been getting all necessary cooperation from the outgoing government.
“Our committee has never said to anybody that there is no cooperation. We have never said that and we are waiting for the reports, until when they come.” [myad]
Vice President Mohammed Namadi Sambo has made it clear that all decisions and project implementations in both the Niger Delta Power Holding Company (NDPHC) and the National Council on Privitatization (NCP) were taken on the basis of sound professional advice and to ensure that it succeeded in providing power for the benefits of Nigerians and the economic development of the country.
Vice President Namadi Sambo said today at the commissioning of the Gwagwalada 330/132/33kva transmission substation build under the National Integrated Power Projects, commended the Ministry Of Power, the Niger Delta Power Holding and the Contractors handling the project for the successful and timely completion of the project.
According to Namadi Sambo who represented President Goodluck Jonathan at the event, the Federal Capital Territory (FCT) as well as the National Grid had experienced remarkable system stability, especially during disturbances that had in the past resulted in total system collapses.
“This new level of system stability has been directly attributed to the installation of these extensive transmission works implemented by the National Integrated Power Projects (NIPP)” He added
He called on Nigerians to solidify the current administration’s great achievements by being patriotic, adding: “by protecting these public assets entrusted in your care as part of your civic responsibility, you are guarding them against misuse and vandalization so that generation yet unborn will not only benefit from these projects, but shall build on the legacies we have bequeathed unto them. It is only when these assets are preserved that our great efforts will be consolidated.”
While reiterating his firm belief and respect for Democracy and its norms and values, the Vice President reaffirmed their administration’s commitment to the progress and prosperity of Nigeria, saying: “we shall continue to make our contributions to the development of our dear country as patriotic citizens. We are confident that posterity shall place us on the right side of history.”
Earlier in his address, the Minister of Power, Professor Chinedu Nebo said that the completion of the Gwagwalada sub-station and other power projects across the country is part of the great achievement of the Jonathan administration and represent the dividend of the Transformation Agenda in the Power Sector.
The minister reminded Nigerians that the Niger-Delta Power Holding Company belonged to them all as it is owned by all the three tiers of government, adding that it is as result of that most of the projects being commissioned were not cited in the Niger-Delta.
He pleaded with those vandalizing the gas-to-power infrastructure in the country to give Nigeria a chance to celebrate the achievements of the current administration.
“Today we did not only have the capacity to generate 6,000 megawatts of power if we have the Gas but also to wheel out, through transmission, about 5,500 megawatts.” He added
The Managing Director of the Niger-Delta Power Holding Company, James Olotu said that the Gwagwalada 330/132/33kv Transmission substation runs from Ajaokuta substations, stopping at Apo and Katampe and Shiroro lines with a distance of about 450km of lines.
“The whole essence of this infrastructure is to ensure and assure efficient and effective power delivery on durable power plants into this location radiating the power in Lokoja, Gwagalada, Abuja main and all the way to Apo and Katampe thereby assuring quality supply of power when on this grid into these communities and enhancing the quality of life of the Nigerian citizenry.” [myad]
Lekoil Limited has announced a loss of $11.9 million, about N2.38 billion for its 2014 financial year. With this performance, Lekoil, an oil and gas exploration and development company with a focus on Nigeria and West Africa, has posted a total loss of $30 million (N6.01 billion) for two consecutive years, 2013 and 2014. In its 2013 financial year, the company posted a loss of $18.1 million, an equivalent of N3.62 billion.
The company, in a statement announcing its audited result for the year ended, December 31, 2014, however, failed to state the reasons for the loss. Directors of the company on the other hand, stated that the ability of Lekoil to continue to operate as a going concern is dependent on the continuing of exploration and evaluation activities on Oil Producing License, OPL 310. The directors also added that it is important that ongoing development activities on Otakikpo continued as planned and the availability of sufficient cash resources to fund ongoing operations.
In this regard, the company said, “Having evaluated these factors, the Directors believe the use of the going concern assumption to be the appropriate basis for the preparation of the 2014 financial statements, for the following reasons: “The Company and its partner on Otakikpo are working on an agreed plan to achieve first oil by mid-2015. On OPL 310 the parties are working on a 2015 provisional plan, which includes completion of interpretation of 3D seismic data and drilling of an appraisal well.
“The Directors are of the view that the current cash balance, together with the cash inflow from Otakikpo production, will be sufficient to fund the development and production activities on Otakikpo and the completion of the interpretation of the 3D seismic data on OPL 310.”
It further stated that economic evaluations, in respect of the Otakikpo estimated net 2P reserves and 2C contingent resources under the Phase I and II development of Otakikpo is a robust project with a NPV (10 per cent) of $77.2 million net to Lekoil. At a $40 oil price scenario on marginal field terms the NPV could rise to $85.2 million if provisional pioneer status is obtained.
Commenting on the company’s performance, Chairman, Lekoil, Mr. Samuel Adegboyega, said: “We are sincerely grateful for the support shown by our investors, the Nigerian government, the local communities we operate in, and our entire workforce who are allowing us to turn our vision into a reality.” He stated that the company’s immediate priority, going forward, is to re-enter the Otakikpo 2 well to start followed by Otakikpo 3 well, and then grow initial production in order to generate the cash required to part fund the further development of the field and to fund ongoing activities on our portfolio.
“Given that Lekoil’s Nigerian subsidiaries are classed as indigenous companies in Nigeria, another of our shorter term objectives is to look to secure Ministerial Consent to the farm-ins, and pioneer tax status which, if granted, will have significant fiscal benefits for the Company as we grow production. “Longer term, we plan to acquire onshore 3D seismic over Otakikpo. We also plan to appraise the shallow water opportunities in the offshore part of field which is already covered by 3D seismic.
“The fall in oil prices from mid-2014 has resulted in us lowering our short to mid-term oil price assumptions in our development plans to levels at or below those prevailing today. For Otakikpo, our analysis reveals that the breakeven price for the project is below $30 per barrel in our base case. This breakeven number can be lowered further if we are successful in our application for Pioneer Tax Status for Otakikpo.”
Also commenting, the Chief Executive Officer, CEO, Mr. Lekan Akinyanmi, said, “Given the current low oil price environment and capital constraints for many smaller Exploration & Production companies, we expect to see many more opportunities over the course of the next 12 months. “However, our main focus during 2015 will be on enhancing shareholder value through the development and monetisation of Otakikpo together with the continued appraisal work to further de-risk the Ogo discovery. [myad]
The Emir of Kano, Muhammad Sanusi II, who was appointed by President Goodluck Jonathan today as the pro-chancellor of the University of Benin, Edo State has ascribed it to the good thing he had done to the university when he was governor of the Central Bank of Nigeria (CBN).
He emphasized that doing good always has its rewards, adding: “I’m saying this because as the governor of the Central Bank of Nigeria then, I came to the rescue of the university by spending N500 million to construct a bridge yearned for by the university for over 30 years.
“If at that time one told me I would reap the reward of that job almost immediately I would not agree, but today, in Allah’s favour, I’m being appointed the pro-chancellor of the university, something that is telling one that he should always think of being good not only to his close people but to everybody far and near.”
The Emir spoke in his palace in Kano today when he received his letter of appointment from the Minister of Education, Ibrahim Shekarau.
Emir Sanusi cautioned governments against establishing too many universities, saying that what Nigeria needs today is quality education that will herald the much needed development.
He pointed out that it is not the number of universities that determined development in a nation but the actual quality of the education in such a country; therefore, in the journey to greatness, government in Nigeria should endeavour to do all it can to ensure that Nigeria education sector received the attention that would help boost the production capacity of the nation.
Sanusi is worried that a greater percentage of the university graduates today do not have the required skills to contribute or participate fully in the development of the Nigerian state and that something very urgently should be done to tackle the unfortunate situation. [myad]
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About two weeks to the exit of President Goodluck Jonathan’s government, the Federal Executive Council (FEC) which he heads, is still persisting in the awards of contracts.
