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Mobil, Other Oil Firms Not Exiting Nigeria -Kachikwu …As FG Gives Condition For Fuel Subsidy Removal
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, says that no International Oil Company (ICO) is planning to exit Nigeria contrary to reports in some section of the media.
Kachikwu made this known while briefing newsmen after facility tour of ExxonMobil Erha Floating Production Storage and Offloading vessels (FPSO) in Lagos yesterday.
“I have confirmed that it is not true, there are going to be here for a long stay, they will be here over the next 50 years, they are looking for more, they are doing all kinds of things, they just begun the exploration campaign first time in four years because of the new cash call policies we put in place.
“That is not a sign of somebody who is exiting. But different from not exiting is to be aggressive. ExxonMobil needs to be more aggressive in terms of development policies,’’ he said
He added that ExxonMobil needs to be more aggressive with business as Bonga Southwest was almost on FID, Egina just kicked off and Agip is struggling to get Zabzaba online.
“So, I need to see a very robust development,’’ he advised
Mr Richard Laing, ExxonMobil Executive Director, Production commended the minister for making out time to visit the facility and reiterated that the company had no plans to exit Nigeria.
“We are happy with Nigeria, We have our differences, and we don’t agree on everything, we are happy and content. We are delighted over the minister’s visit and we are happy that he has come back to his spiritual home.
“As the minister said, the corporation has been here for many years, we intend to stay, we have ambitious growth programmes to build wealth and grow business to make more profit, key into the gas commercialisation project.
“We fully support what the minister said and we look forward to working with him,’’ he said.
Meanwhile, the Federal Government has given conditions for the removal of subsidy on premium motor spirit, also known as petrol.
The conditions include: provision of alternative cushioning measures mutually agreed between stakeholders to protect the economically vulnerable members of the population.
Finance Minister, Zainab Ahmed, stated this at the press briefing marking the end of the 2019 Spring Meetings of the World Bank and the International Monetary Fund, IMF, in Washington DC, USA, yesterday.
She however said the Federal Government is yet to arrive at such measures.
She said there is no immediate plan to remove fuel subsidy, contrary to speculations that have led to the emergence of fuel queues in some parts of the country.
According to her, “At the IMFC meetings, the Managing Director requested for a mandate to pursue some negotiations with Governors for temporary financing options for ensuring that the Fund remains adequately resourced by maintaining the current resource envelope of the Fund through borrowed resources. This arose partly due to the delay in completing the 15th general review of quotas.
“While Governors endorsed this position, we called for an ambitious timetable for the 16th General Review of quota which should result in increased quota shares for dynamic economies in line with their relative positions in the world economy, while protecting the voice and representation of the poorest members.”
She further called for the normalisation of trade relations among the contending parties and called for concerted efforts to support multilaterism and avoid protectionist sentiments.
She added, “There is no imminent plan to remove fuel subsidy. We are here to discuss with the global community on various policy issues.
“One of the issues that always come up in the report, especially by the IMF as a corporate body is how we handle fuel subsidies. IMF is saying fuel subsidies are better removed so that you can use the resources for other important sectors.
“In principle that is a fact. But in Nigeria, we don’t have plans to remove fuel subsidy at this time because we have not yet designed buffers that can enable us remove fuel subsidy and provide cushions for our people. So there is no plan to remove fuel subsidy.
“We will be discussing with various groups . If we have to, what are the alternatives? We have not yet found viable alternatives . So we are not yet at the point of removing fuel subsidy.
“We also met with the World Bank Power Sector team and discussed the way forward on the Proposed USD1 billion Nigeria Performance Based Loan (PBL). We agreed to bring relevant MDAs together to ensure that we advance this in a timely manner.
“We will also discuss the Country Portfolio Performance of Nigeria which currently stands at $9.8 billion with the Nigerian Country team at the World Bank and how we could manage the portfolio for optimum results.”
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China Alerts Rivers, A’Ibom, Abia Govs To Economic Triangle
The Mayor of Housing, My-ACE China, has alerted the Governor of Rivers, Akwa Ibom, and Abia states to what he calls an emerging ‘Economic Triangle’ within their states.
Mr China, a real estate success strategist who has won numerous local and international awards, has thus drawn the attention of the governors of the concerned states to the emerging development and has urged them to intentionally accelerate the emergence of the economic triangle.
Speaking to newsmen in Uyo, Akwa Ibom State capital at the conclusion of his business trip to the state, Mr China, who is the managing director of the Housing and Construction Mayor Limited, said the envisaged economic corridor would compete favourably with the Lagos economic hub or even better.
He said: “Talking about ‘Economic Triangle’, the only place that can wrest economic power from Lagos is Akwa Ibom, Abia, and Rivers states axis or corridor. This corridor contains more than Lagos has, if they can be interconnected with smooth roads, ports, and if their blue potentials are unlocked. They will not only wrest power from Lagos but would be more lucrative.”
The investor who is behind the emerging Alesa Highlands Green Smart City in Eleme, near Port Harcourt, said the new ‘Economic Triangle’ has a bigger potential due to massive land assets with the corridor plus blue economy and the existing hydrocarbon industry.
Explaining, Mayor of Housing said Aba (Abia State) provides the biggest fabrication capacity in West Africa to supply goods to the Gulf of Guinea; Port Harcourt provides access to the Gulf of Guinea for off-taking Aba products, and the Uyo provides deep sea port at Ibaka and international airport facilities as well as forest reserves for massive agro-economy.
He said with sea ports in Rivers State and deep seaport in Akwa Ibom, and international airports in Rivers and Akwa Ibom, Aba can focus on adequate power supply and fabrication boom to supply a new booming market around the economic triangle.
By doing this, he said, jobs would spill out in huge quantities and more manufacturers would be drawn from all over Africa to boost the fast coming African Continental Free Trade Agreement (AfCFTA). He said Nigeria would thus have two major trade nodes in West Africa; Lagos and the PH/UYO/Aba triangle.
He said goods going to or coming from Chad, Niger, and the rest of Central Africa can head to the Lagos ports or to the Ibaka/PH ports zone in the new economic triangle.
He said with power supply made stable, good roads, excellent security system, and ease of doing business enthroned in the zone, the South-South and South East would become the biggest economic nerve in the near future.
Mayor of Housing called on governors of the three states to be intentional about the new corridor, put away political differences (if any), and create this corridor by agreeing on projects each state would execute with a short period of time so the states would be linked by good roads, communication, security, trade laws, concessions to investors, etc.
He remarked that northerners were already heading to the Onne Port in Rivers State to export goods, saying creating a commission to oversee the development of the ‘Economic Triangle’ would fast-track its emergence.
He observed that people of the three states are peaceful and usually preoccupied with zeal for economic prosperity, saying that if they are linked to such huge opportunities staring at them in the emerging economic triangle, they would totally shun violence and focus on prosperity.
Mr China insisted that the emerging economic triangle would form a big node not only into the Gulf of Guinea economic zone but into Africa because AfCFTA is about production, certification, market availability, and easy transport nodes by sea and air. He said the new economic triangle boasts of all the factors.
“They can only realise this by working together, through collaboration. One state cannot do it but a triangle of the three will create it through seamless interconnection, ports, industrial park, etc. The people will be the richest and internally generated revenue (IGR) will be the biggest in the country,” he said.
News
Tinubu Nominates Ex-INEC Chair Yakubu, Fani-Kayode, Omokri, 29 Others As Ambassadors
President Bola Tinubu has sent the names of 32 ambassadorial nominees to the Senate for confirmation, days after he sent the first batch of three names.
Among them are the immediate past chairman of the Independent National Electoral Commission, Mahmud Yakubu, an aide to former President Goodluck Jonathan, Reno Omokri (Delta), and former Enugu State Governor, Ifeanyi Ugwuanyi, among others.
“In two separate letters to the Senate President, Godswill Akpabio, President Tinubu asked the Senate to consider and confirm expeditiously 15 nominees as career ambassadors and 17 nominees as non-career ambassadors,” read a statement on Saturday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
In the statement titled, ‘Tinubu nominates 32 additional ambassadors,’ Onanuga noted, “There are four women on the career ambassadors’ list and six women on the non-career ambassadors’ list.”
“Among the non-career ambassador designates are Ogbonnaya Kalu from Abia, a former presidential aide, Reno Omokri (Delta), former chairman of the Independent National Electoral Commission (INEC), Mahmud Yakubu, former Ekiti first lady, Erelu Adebayo, and former Enugu governor, Ifeanyi Ugwuanyi.
“Others are Tasiu Musa Maigari, the former speaker of the Katsina House of Assembly, Yakubu N. Gambo, a former Commissioner in Plateau State and former Deputy Executive Secretary of the Universal Basic Education Commission.
“Professor Nora Ladi Daduut, a former senator from Plateau; Otunba Femi Pedro, a former Deputy Governor of Lagos State; Femi Fani-Kayode, a former aviation minister from Osun State; and Nkechi Ufochukwu from Anambra State are on the nomination list,” the statement read.
Also on the list are former First Lady of Oyo, Fatima Florence Ajimobi, former Lagos Commissioner, Lola Akande, former Adamawa Senator, Grace Bent, former governor of Abia, Victor Okezie Ikpeazu, Senator Jimoh Ibrahim, businessman, lawyer and Senator from Ondo State, and the former ambassador of Nigeria to the Holy See, Ambassador Paul Oga Adikwu from Benue State.
Among the nominees for career ambassador and high commissioner-designates are: Enebechi Monica Okwuchukwu (Abia), Yakubu Nyaku Danladi (Taraba), Miamuna Ibrahim Besto (Adamawa), Musa Musa Abubakar (Kebbi), Syndoph Paebi Endoni (Bayelsa), Chima Geoffrey Lioma David (Ebonyi) and Mopelola Adeola-Ibrahim (Ogun).
The other nominees are Abimbola Samuel Reuben (Ondo), Yvonne Ehinosen Odumah(Edo), Hamza Mohammed Salau (Niger), Ambassador Shehu Barde (Katsina), Ambassador Ahmed Mohammed Monguno (Borno), Ambassador Muhammad Saidu Dahiru (Kaduna), Ambassador Olatunji Ahmed Sulu Gambari (Kwara) and Ambassador Wahab Adekola Akande (Osun).
“The new nominees are expected to be posted to countries with which Nigeria maintains excellent and strategic bilateral relations, such as China, India, South Korea, Canada, Mexico, the United Arab Emirates, Qatar, South Africa, Kenya, and to Permanent Missions such as the United Nations, UNESCO, and the African Union.
“All the nominees will know their diplomatic assignments after their confirmation by the Senate,” it read.
Last week, Tinubu sent three ambassadorial nominees for screening and confirmation.
The nominees were Ambassador Ayodele Oke (Oyo), Ambassador Amin Mohammed Dalhatu (Jigawa), and Retired Colonel Lateef Kayode Are (Ogun).
All three are in the pot for posting to the UK, USA, or France after their confirmation.
“More nominees for ambassadorial positions will be announced soon,” Onanuga revealed.
News
Investment In Education Remains Top Priority For Gov Fubara – SSG
The Secretary to Rivers State Government, Dr. Benibo Anabraba, has reiterated that the administration of Governor Siminalayi Fubara remains committed to improving access to quality education at all levels.
Dr. Anabraba gave the assurance while receiving the Deputy Registrar/Zonal Coordinator of the West African Examinations Council (WAEC), Mr Ayanfemi Adeniran-Amusan in Port Harcourt during a courtesy visit.
He emphasised that Governor Fubara remains resolute in sustaining investment in the education sector to improve the quality of teaching and learning.
According to him, “We appreciate the work you are doing and know that our students are amongst the highest in ranking.
“His Excellency, Sir Siminalayi Fubara, takes education very seriously. He is sponsoring the free registration of students for the West African Senior School Certificate Examination (WASSCE) in Government Schools.
“Also, Governor Fubara has approved the establishment of Computer-Based Test (CBT) Centres across the State’s three senatorial districts and the 23 LGAs. The project is intended to improve access to digital learning and examination facilities for students so that our children are at breast with digital literacy, a prerequisite for today’s students.
“We are currently working assiduously to get those centres, both mega and mini, across the three senatorial districts and the 23 local government ready in order to meet up with your deadline,” he said.
The SSG also conveyed the assurances of the Governor to WAEC on Government’s willingness in providing land for its Zonal Office.
Earlier, the Deputy Registrar/Zonal Coordinator of the West African Examination Council, Mr Ayanfemi Adeniran-Amusan, promised to collaborate with the State Government in matters concerning education development.
In another development, the Secretary to State Government, Dr Benibo Anabraba, also met with officials of the National Agency for the Prohibition of Trafficking in Persons, NAPTIP, led by the Assistant Director of Intelligence, Rivers State Command, Barr. Ikediashi Nwamaka.
The SSG while appreciating the Agency for its effort in the protection of vulnerable persons, also raised Government’s concern on the activities of orphanages and care homes in unwholesome practices such as child trafficking, abuse of underaged girls also known as baby-factory, and the lack of regulations on surrogacy.
He however assured that the Rivers State Government has already put plans in place towards legislation to regulate these acts against vulnerable persons, particularly women and children.
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