City Crime

JUSUN Strike Stalls Diezani’s Trial

Published

5 years ago

May 19, 2021

The trial of former Petroleum Minister, Diezani Alison-Madueke, was on Monday stalled due to the strike by the Judiciary Staff Union of Nigeria (JUSUN).
The matter, which was before a Federal High Court in Abuja presided over by Justice Ijeoma Ojukwu was fixed for Monday, May 17, for the EFCC to give a report on its effort at extraditing Alison-Madueke to the country to stand her trial.
Although Justice Ojukwu had, on March 16, been transferred to the Calabar division of the court, the case was fixed for yesterday following the absence of the EFCC’s lawyer, Farouk Abdullah, in court on March 3.
The Tide source reports that the case, which was earlier fixed for report or arraignment of the ex-minister, could not proceed as neither Abdullah nor Diezani was in court.
The Tide reports that the court had, on Dec. 3, 2020, adjourned the ember until March 3 following the inability of the anti-graft agency to fully comply with its orders in the trial of Diezani.
Ojukwu fixed the date after counsel to the EFCC, Abdullah, prayed the court for more time to enable the anti-graft agency ensure full compliance with the court orders.
The judge had, on Oct. 28, 2020, refused to grant ober the EFCC’s application seeking the court order on issuance of warrant of arrest against Alison-Madueke.
Ojukwu held that an affidavit with evidence in support to proof that the earlier court summon granted the agency had failed in the extradition of Diezani must be filed by the commission before another request could be made.
The judge noted that the EFCC had informed the court that the office of the Attorney General of the Federation (AGF) hinted that the arrest warrant was needed to further give the International Police (INTERPOL) the impetus to bring the defendant to Nigeria to answer to charges against her.
The judge, however, said it would give the anti-graft agency a room to put its house in order in the trial of the ex-minister because court orders were not made in vain.
Abdullah had, in an application, urged the court “to issue an arrest warrant against Alison-Madueke, who is believed to be in the UK to enable all law enforcement agencies and the INTERPOL to arrest her anywhere she is sighted and be brought before the court to answer to the allegation made against her before the court.”
He said since the summons had not been able to achieve the desired result, the need for a warrant of arrest could stet be over-emphasised.
The Tide source reports that the court had, on July 24, 2020, ordered the former minister to appear before it and answer to the money laundering charge filed against her by the EFCC.
The judge gave the ruling in an ex-parte motion marked FHC/ABJ/CR/208/2018 brought by Abdullah.
The EFCC had accused the former minister of fleeing the country for the UK in order to escape justice, among others.
It would be recalled that the EFCC Chairman, Mr. Abdulrasheed Bawa, had, in the April edition of the agency’s in-house magazine, disclosed that the anti-corruption commission recovered $153 million from Alison-Madueke.
Bawa said the agency also recovered the final forfeiture of over 80 property in Nigeria valued at about $80 million from the former minister, who has been living in the UK since leaving office some years ago.
The EFCC boss said he would want the former minister to face trial in Nigeria.

City Crime

RSG Ready For 2030 Digital Transformation

Published

4 weeks ago

October 27, 2025

The Tide

The Permanent Secretary, Rivers State Information and Communications Technology (ICT) Department, Mrs. Elizabeth Akani, has said the State Government was set to meet up the 2030 target of the Federal Government towards the actualization of digital economy.

Akani said this at the Rivers State Sensitization Workshops on The Adoption of Nigeria Start-up Act and National Digital Literacy framework (NDLF), in Port Harcourt, weekend.

She noted that the State was ready for both the adoption and domestication of the Act.

According to her, up to 90-95% preparation have been fully covered by the state in readiness to welcoming the digital economy Act.

“Stakeholders talked about adoption and domestication of the Act, it was fruitful. The draft has been sent to the government”, she said.

She also noted that the move was in line with the digital transformation plan of the state and the country at large.

The Convener, Start South, Mr. Uche Aniche, who made case for full ICT Ministry for the state, said such will command the needed growth in the system.

Aniche stated that until they attained the lofty height, all about Tech-knowledge and growth may not fall in place as expected.

Other tech-operators, such as the Code Garden Chief Executive Officer, Mr. Wilfred Wegwu, who welcomed the idea, said it must be done in the nearest future.

Wegwu noted that technology has taken over the world at present, adding that government at all levels needed to key into the system.

He also stated that the system play major roles in various spheres of life, including relationships and collaboration.

He also revealed that the system now was up to forth Industrial Revolution (4IR), according to global shift ranking.

It will be recalled that the State Government has recently ordered to construct ICT centres across the 23 Local Government Area of the state in order to meet up the yearnings of the technology world.

By: King Onunwor

City Crime

Industry Braces For Glut And Investor Demands

Published

2 months ago

September 29, 2025

The Tide

The oil and gas industry is in for a tough year ahead, as it must balance financial discipline, shareholder returns, and long-term investments in the sustainability of the business—while navigating a hypothetical glut.

The warning comes from Wood Mackenzie, which said in a new report that the industry was faced with conflicting trends over the next year that would make decision-making challenging. Among these is an expectation that the market would tip into an oversupply, pressuring prices, while the demand outlook for oil over the long term brightens up, motivating more investments.

“Oil and gas companies are caught between competing pressures as they plan for 2026. Near-term price downside risks clash with the need to extend hydrocarbon portfolios into the next decade. Meanwhile, shareholder return of capital and balance sheet discipline will constrain reinvestment rates,” Wood Mackenzie’s senior vice president of corporate research, Tom Ellacott, said.

The executive added that investors would also influence decisions, as they continue to prioritize short-term returns over long-term investments. This last part, at least, is not unusual in the current investment environment across industries. It could, however, make life even more difficult for oil and gas companies for a while.

The glut that Wood Mackenzie analysts expect is the same glut that the International Energy Agency has been expecting for a while now. Yet that very same International Energy Agency earlier this month issued a warning on the longer-term security of global oil supply, saying the industry needed to step up investment in new production because natural depletion at mature fields was progressing faster than previously assumed.

Per the report, if the industry has to maintain current levels of oil and gas production, more than 45 million barrels per day of oil and around 2,000 billion cu m of natural gas would be needed in 2050 from new conventional fields. It’s worth noting that this is maintenance of current production levels, assuming demand will not rise, which is a risky assumption.

Even with projects ramping up and new ones approved for development and not yet in production, a large gap still exists “that would need to be filled by new conventional oil and gas projects to maintain production at current levels, although the amounts needed could be reduced if oil and gas demand were to come down,” the IEA said.

However, demand could just as well increase, heightening the degree of uncertainty in the industry and making long-term planning even more challenging—especially for companies with higher debt-to-equity ratios. Wood Mackenzie expects those with gearing of above 35% would prioritise resilience over long-term growth, while those with better debt positions would turn to divestments and asset acquisitions to improve the quality of their portfolio.

Share buybacks will also remain on the oil industry’s table as a favorite tool for making shareholders happy, although, Wood Mac notes, these tend to dry up when oil slips below $50 per barrel. Interestingly, the analytics company does not seem to factor into its analysis a scenario where prices might go up instead of down, especially now that President Trump has signaled he would be willing to step up pressure on Russia to bring a swifter end to the war in Ukraine.

If prices do rise, for whatever reason, including failure of the massive 3-million-bpd glut that the IEA predicted to materialize, then the immediate outlook for the oil and gas industry becomes different—but not too different. Companies have already demonstrated they would not return to their old ways of splurging when times were good and tightening belts when times were bad. They would likely stick to spending caution and shareholder return prioritization, regardless of prices.

By Irina Slav

City Crime

ECN Commences 7MW Solar Power Project In AKTH

Published

2 months ago

September 22, 2025

The Tide

As a landmark intervention designed to guarantee uninterrupted electricity supply, the Energy Commission of Nigeria (ECN), has commenced a 7MW solar power project at the Aminu Kano Teaching Hospital (AKTH)

The project is the outcome of ECN’s comprehensive energy audit and strategic planning, which exposed the unsustainable cost of diesel and the risks associated with AKTH’s dependence on the national grid.

Working in close collaboration with the Federal Ministry of Innovation, Science, and Technology under the coordinating leadership of Chief Uche Nnaji, the ECN planned and executed this critical project to secure the hospital’s energy future.

The Director – General, ECN, Dr. Mustapha Abullahi, said “the timing of this intervention could not be more crucial” recalling that only days ago, AKTH suffered prolonged power outages that tragically claimed lives in its Intensive Care Unit.

“That painful incident has strengthened our resolve. With this solar installation, we are ensuring that such tragedies are prevented in the future and that critical medical services can operate without fear of disruption”.

Abdullahi stated that the project is a clear demonstration of the Renewed Hope Agenda of President Bola Ahmed Tinubu in action and reflects ECN’s commitment to making Nigeria’s energy transition people-centered, where hospitals, schools, and other essential institutions thrive on reliable, clean, and sustainable power.

The ECN boss further reaffirmed ECN’s commitment to continued deployment of innovative energy solutions across the nation.

“This is not just about powering institutions; it is about saving lives, restoring confidence, and securing a brighter future for Nigerians”, he stated.