NEWS MIRROR

Chevron's CEO, Kennedy Nigeria would transiting effectively from fossils  to zero carbon fuel, once it has good regulatory frameworks in place, the Managing Director, Chevron Nigeria Limited, Mr Rick Kennedy has said.  He said sound regulatory policies are key to implementation of oil, gas and electricity programmes globally, adding that Nigeria need it badly, if its wants to stimulate growth of the economy.  Rick Kennedy stated this while delivering a special industry goodwill message at the Association of Energy Correspondents of Nigeria (NAEC) Strategic International Conference in Lagos with the theme “Energy Transition, PIA, Petroleum Pricing and the Way Forward for the Downstream Sector”. Represented by the company 's Manager, Communications,  Victor Anyaegbudike, Kennedy maintained that for Nigeria to sustain economic growth which has raised the quality of life for millions of people around the world, what is needed is a competitive envi...

Dr. Joy Ogaji, Executive Secretary of APGC Utility firms, also known as Power Distribution Companies ( DisCos) are indebted to the Power Generation Companies( GenCos) to the tune of N1trillion, the Executive Secretary, Association of Power Generation Companies (APGC), Dr Joy Ogaji has said.. She said inability of the firms to pay up their debts, has resulted in the low output of the electricity generation companies. Speaking during a panel session at the Association of Energy Correspondents of Nigeria annual conference themed, “Energy Transition: Shaping the Future of Nigeria’s Energy Industry, An Appraisal of PIA, Evolving Benefits and Challenges. Ogaji said the issue has made it for the companies to procure materials necessary for their operation and also meet the needs of the citizens. While speaking on the dilemma in the ‘Power Sector : Issues, Challenges, Opportunities And Strategic Key Solutions’, she argued that the GenCos were owed N2trillion, not N500billion as  reported i...

By Akinola Ajibade The Academic Staff Union of Universities ASUU, appears to have throwned decency into the wind, as it planning to extend its strike for another six months. If this happens, students would be spending a whole year at home with their parents and guardians, in view of the fact that they have already spent six months outside schools, due to strike. The decision by the executive members of the union to extend the strike for another six months may not be unconnected with " no work, no pay" stand of the Federal Government, a development, which does not augur well with the striking lecturers. Recall that at the last meeting between the Nimi Briggs led reconcilliation committee, ASUU 's  officials made attempts to compel the government to pay them their six months salaries as one of the conditions for suspending the strike. The Minister of Education Adamu Adamu had objected to such demand while featuring at a media interactive session coor...

Yusuf  The Federal Government can leverage on the power sector to improve its contributions to the nation's Gross Domestic Product( GDP), the Chief Executive officer, Centre For The Promotion of Private Enterprise (CPPE) Mr Muda Yusuf has said. This is coming on the heels of contractions experienced in some critical sectors of the economy in the second quarter of 2022 The Nigerian Bureau of Statistics(NBS) report had it that the highest contraction was in oil refining which was 42%, rail transportation 38%, crude oil and gas 11.8%, metal ores 25.5%, electricity vehicle assemblies 7.8%, electricity and air-conditioning 7%; motion pictures and music 6%, textiles 2.8%. Yusuf, in a statement signed and made available to News Mirror, urged the government to address the challenges of the massive oil theft which is affecting the oil output,adding that the safety of the oil facilities is also very paramount to reverse the under performance of the oil and gas sector. He said the...

By Akinola Ajibade Abuja Electricity Distribution Company (AEDC) is embarrassing the Niger state government, by disconnecting light to its state house, secretariat, general hospital,  and the office to the Secretary to the government over N1.3billion debt. This follows the decision by AEDC to disconnect government house, ministries, departments and agencies, including the Minna General Hospital due to non-payment of N1.3billion accumulated bills accumulated by the government. The firm's regional Public Relations Officer, Alhaji Mohammed Adamu,explained that the state government defaulted after initial agreement to offset outstanding sum running into several billions of Naira. However,Secretary to the State Government (SSG), Alhaji Ibrahim Ahmed Matane in an interview, said AEDC is merely trying to embarrass everyone because the state government have not defaulted in paying monthly N57 million as agreed. “The AEDC is claiming that the government is indebted to the tune o...

Pantami By Akinola Ajibade Nigeria's Information and Communications Technology ( ICT) sector has excellently contributed 18.44 per cent to the country's Gross Domestic Product( GDP)  in the second quarter of 2022, the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami),has said. The Minister, in a statement, made available to the media at the weekend, said that digital economy is growing under the present leadership of the ministry. In the statement signed by Dr.Femi Adeluyi, Technical Assistant (Research and Development) to the Minister of Communications and Digital Economy, the ministry is expressing joy over the state of the digital economy in the country. It added that:”The report by the NBS indicated that the ICT sector contributed 18.44% to the total real GDP in Q2 2022. This is the highest contribution of ICT to the GDP and is truly unprecedented and marks the third time that the sector has achieved an unprecedented contributio...

E- Commerce  By Akinola Ajibade Nigeria's e-commerce spending is projected to rise from its current $13billion to $75 billion in 2025, the Minister of Industry, Trade and Investment, Mr Niyi Adebayo has said. He said the $13billion was the yearly derived from e-commerce, adding that the figure would reach $25 billion, in view of the increasing interest in such means of transactions. He spoke in Abuja during a stakeholder programme on e-commerce and digital trade policy for Nigeria. According to him, the market outlook for Nigeria’s e-commerce shows that the number of online shoppers in the country, which was at 76.7 million in 2021, is expected to hit 122.5 million by 2025. “The figures from the Nigeria Inter-Bank Settlement System (NIBSS), also shows that Nigeria’s e-payment transactions increased by 85.5 per cent year-on-year to N171.99 trillion in August 2021,” he added. Nigeria,he said,is currently working to establish a strategy on e- commerce that will boost growt...

By Akinola Ajibade Moved by the need to reduce the problems facing nation' s aviation sector, a development, which has made travelling  a task as airlines have increased the fees for local and foreign flights, the  Central Bank of Nigeria CBN has released the sum of $265 million to airlines operating in the country, to settle outstanding ticket sales. A breakdown of the figure indicates that the sum of 230 million dollars was released as special Foreign exchange intervention while another sum of 35 million dollars was released through retail S.M.I.S auction. Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi said that  Governor, Godwin Emefiele and his team were concerned about the development and what it portends for the sector and travellers as well as the country in the comity of nations. Nwanisobi reiterated that the Bank was not against any company repatriating its funds from the country, adding ...

Osodeke  By Akinola Ajibade State Universities have come hard on the  President of the Academic Staff Union of Universities (ASUU), Prof Victor Emmanuel Osodeke, saying that his statement about the quality of their teachings was ill-borne.  They are Osun and Ekiti State Universities respectively.  This is coming on the heels of an interview granted ' Arise Television' during the week by Ozodeke. During the interview, Osodeke, a Prof of Soil Science at Michael Okpara University of Agriculture, Umudike-Owerri, Imo State was said to have referred other universities that announced resumption despite the union’s ongoing strike as “quacks. Responding to questions on the impact of the Nigerian government’s “No work, No Pay” rule on the universities and whether it is responsible for some universities’ decision to suspend the strike, Mr Osodeke, a professor, said the universities that pulled out of the strike are not members of his union. He said: “When you are pr...

GMD, NNPC Limited, Mele Kyari By Akinola Ajibade The Nigerian National Petroleum Company Limited (NNPC) and Nigeria Upstream Petroleum Regulatory Commission ( NUPRC) would no longer award oil blocks and marginal fields to companies without discretion.  The Chief Executive officers of the two major stakeholders ( regulator and operator respectively) spoke differently at the 2022 Strategic International Annual Conference organised by the National Associaton of Energy Correspondents (NAEC)held on Thursday, in Lagos recently. While speaking at the event, the Chief Executive officer, NUPRC, Mr Gbenga Komolafe maintained that the signing of the Petroleum Industry Act (PIA) into law  by President Muhammed Buhari in August 2021 has put an end to the problems in the Marginal field exercise, before the establishment of NUPRC. Represented by the  Head, National Oil and Gas Excellence Centre (NOGEC), Abel NSA, Komolafe said that the marginal fields award was initiated to ...

Power generation plant  By Akinola Ajibade Electricity generating companies are currently  owed about N1.7 trillion, the Executive Secretary, Association of Power Generation Companies,(APGC), Dr Joy Ogaji has said. She said the companies are owing gas suppliers about N1trillion and banks N700bilion( loans servicing) totalling N1.7trillion since 2013. Speaking, yesterday in Lagos, during the panel session at the Association of Energy Correspondents of Nigeria (NAEC) Strategic International Conference, Ogaji said that liquidity and gas are impediments to the operation in the generation value chain in Nigeria. She stated that the power generation companies are still servicing loans used in acquiring the  defunct assets of the Power Holding Company of Nigeria(PHCN) , adding that the sub-sector is facing a myriad of operational problems. Ogaji She urged the Nigerian Bulk Electricity Trading Company (NBET) to intensify efforts to ensure remittances by th...

L-R: Mr. Olu Philips, NAEC Chairman, Mrs. Audrey Ezigbo, Vice Chairman and CEO of Falcon Corporation and Conference Chairman, Mrs. Lola Oyenekan, JV Coordinator of HEOSL and Dr. Sola Adebawo, GGM, Corporate Affairs of HEOSL at NAEC conference held in Lagos.

Minister of State for Petroleum, Timpreye Slyva,  By Akinola Ajibade The more than 200, 000 population in Nigeria are more concerned with the positive impacts, which the removal of fuel subsidy would bring to them socially and economically, not several meaningless talks and conferences on the issue, the President, Petroleum and Natural Gas Senior Staff Association of Nigeria(PENGASSAN), Comrade Festus Osifo, gave this indication during  a panel session at the Association of Energy Correspondent of Nigeric( NAEC) strategic International Conference in Lagos. He said major developments in the areas of power generation, health care delivery, among others are of utmost importance to Nigerians, when subsidy is finally removed by the Federal Government, in 2023. According to him, Nigerians are not against the removal of subsidy on Premium Motor Spirit (PMS) but that government must get the nod of the citizens by regularly discussing the issue  with them and what they...

By Akinola Ajibade Abu Dhabi and the entire United Arab Emirates were full of excrements over the appointment of the Nobel Laureate,  Wole Soyinka as the Arts Professor of Theatre effective September 1, 2022.  Soyinka, who won the 2016 Nobel Prize in Literature, according to Gulf News,  is expected to join other members of the faculty at NYU Abu Dhabi in the last quarter of this year.  A playwright, poet, essayist, and public affairs commentor, with a deeper knowledge of socio-economic and political environment locally and internationally, Soyinka is rs reportedly joining the “NYUAD Theater Program as a full-time faculty member, thereby offering the community direct access to one of the world’s greatest thinkers.” NYUAD: Kongi Booster For Abu Dhabi Varsity Soyinka’s appointment is aligned with NYUAD’s Academic Strategy and its mission as a university in and of Abu Dhabi and the UAE. He will play a key role in continuing to enhance the University’s standing within the...

By Akinola Ajibade Investors in the nation's capital market are having unclaim dividends of N177billion as at 2021, the Director -General, Securities and Exchange Commission( SEC), Mr Lamido Yuguda, has said. He said the dividends have increased from N168 billion recorded in 2020, a development, which is not good enough for investors. He said this in Abuja, while speaking on some of the outcomes of the second Capital Market Committee meeting.  While responding to a question on the amount of unclaimed dividends at the Nigerian Stock Exchange, Yuguda said, “The unclaimed dividends that we have as at the end of last year was about N177billion. “And, unfortunately, this was an increase over the number at the end of 2020, which was N168bn.” Speaking on what the commission is doing about the increasing unclaimed dividends in the market, Yuguda said that  SEC is working with registrars in order to distribute dividends through electronic means. Yuguda said: “The commission has done a ...

By Akinola Ajibade A senior official of Federal Competition and Consumer Protection Commission( FCCPC) in  Katsina State, Julius Haruna( Mr) is dead,  following a fisticuff with a female colleague in the establishment, the Director, Legal Secretary of the Board of FCCPC, Tam Tamunokonbia has said. Her name is Muibat Taiwo Abdulsam ( Ms)  While Haruna was an Assistant Director in the Commission, Abdulsam was not.  Confirming the incident in a statement,  Tamunokonbia said that the matter is still under probe.  He said although “investigations are at early, findings have shown that Haruna was involved in a dispute which escalated to, and included physical contact with  Abdusalam, another employee of the Commission.” He explained that the State Police Command is investigating the matter. “The deceased is currently deposited in the morgue of Katsina General Hospital and awaiting an autopsy, while Abdusalam has been  detained by the state P...

By Favour Ajibade A 25-year old man says anger made him to stoned his two children to death. Known as Elisha Tari, the suspect confessed to the police that he was infuriated by the actions of his children and therefore threw  stones to kill them. While being paraded before the police in  Adamawa State yesterday ( Monday), Tari confessed that he smoke Indian Hemp, drink alcohol and inhale stuff, adding that he once had a psychological problem. Tari said: " I was once tied in chains some time ago. Neither do I take tramadol or any hard drugs. All I can say is that I have a psychological problem. My wife left her matrimonial home two months ago and all efforts to bring her back proved abortive.  Adding that: " I was cooking when the children approached. I asked them when their mother would return.  I asked them to say 'God', but instead they said 'fire' and kept saying fire, fire instead of God. This made me furious, picked up  stones and hit them on their heads ...

By Akinola Ajibade Their names and how they broke the LAUTECH record to be awarded fully funded scholarship at the Louisiana State University (LSU), Los Angeles, United States Nigerians are breaking barriers, by winning fully funded scholarship abroad, a development, which indicates that given all facilities on ground in the country, they have what it takes to rule the world. Recently, four graduates of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, South West Nigeria, were awarded  scholarship to study at Louisiana State University (LSU), Los Angeles, United States. The graduates are directly admitted into PhD programme with their first degrees. In a statement from the Principal Assistant Registrar, Public and Alumni Relations Unit of the University, yesterday ( Tuesday) the four are all Chemical Engineering graduates. He said that it was the first time that four graduates of Chemical Engineering in LAUTECH were admitted into a PhD programme in the same academic...

By Akinola Ajibade The recent recapitalisation exercise in the pension industry will bring about increased effectiveness and efficiency as well as improved service delivery in the sector, the Director-General, National Pension Commission, Mrs. Aisha Dahir-Umar, has said. She spoke at the 2022 workshop organized by PenCom for  journalists in Lagos recently.  According to her,  PenCom would continue to develop and implement innovative polices, with a view to  foster safety and fair returns on pension fund investment as the pension industry and financial system evolves. Represented at the event by the PenCom's Head of Corporate Communications Department, Mr. Abdulqadir Dahiru,  Dahir Umah said that the  Commission is taking strategic steps, in order to  encourage workers in the informal sector of the economy to participate in the Micro Pension Plan and further expand the Contributory Pension Scheme (CPS). Speaking further, she said the theme o...

  DSC 4918; L-R, Dangote Cement Zambia, Director, Lynda Mataka, President/CE of Dangote Industries limited, Aliko Dangote, Zambia Minister of Commerce, Trade & Trade: Chipoka Mulenga, Zambia High Commissioner to Nigeria, Oscar Shitima, During the Zambia Minister Visit the President/CE of Dangote Industries Limited, in his Residence, Victoria Island Lagos.  By Akinola Ajibade Zambia needs the President,  Dangote Group of Companies,  Aliko Dangote to establish a  fertilizer plant in the country and further help in developing agriculture in Africa,  its Minister of Commerce and Industry, Mr. Chipoka Mulenga, has said. He made this statement,  during a tour of 3.00 million metric tonnes Dangote Fertilizer plant in Lagos recently. Mulenga, who led a delegation from Zambia to the plant, said that a collaboration between Dangote Group and the Zambian government in the area of establishing a fertilizer plant is inevitable, if the southern Afric...

By Akinola Ajibade The Chairman, Senate Committee on Industries, Mr Tokunbo Abiru says no country can achieve meaningful developments without industrial growth.  He lauded Nigeria for working to achieve growth in this sphere, adding that with time, the country be better economical. He spoke during the inspection of the newly  constructed Ikorodu/Sagamu road in Lagos last weekend,  stressing that the remaining portion of the road would be completed soon. Abiru,  who represent Lagos East Senatorial District at the Red Chamber, was accompanied on the inspection tour by officials from the Federal Ministry of Works.  They include Director, Highway Southwest, Engr. Adedamola Kuti and representatives of the firm handling the road,  Arab Contractors, led by its  Area Manager, Huzem Monuir. The road, was beautiful as well as motorable. In fact, motorists are having hitchfree journey on Ikorodu/Sagamu road, which hitherto was a nightmare for for comm...

By Akinola Ajibade Security operatives have arrested a fourty-nine years old man for impregnating his 14 years old biological daughter recently. The suspect, named Amoda Bola was on August 17, this year, alledgedly had carnal knowledge of his daughter, who has been living with him for some years, in his residence at Idi Oro street, Ode Remo, Ogun state. The arrest of the suspect ( Amoda) followed a complaint received by the officials at Ode-Remo police station,  that a man has impregnated his biological  daughter. Upon the report, the District Police Officer( DPO) i Ode Remo Division, CSP Olayemi Fasogbon immediately swung into action, as ordered his detectives to arrest the suspect. On interrogation, the suspect denied the allegations that he impregnated his daughter. However, he later confessed to have committed the offence,  following confrontation from his daughter (name withheld) that her father was responsible for the pregnancy, which she is carrying. Ac...

By Akinola Ajibade The management of the Niger Delta Power Holding Company (NDPHC)  will commence  probling  on Nigeria Bulk Electricity Trading Company ( NBET) $33million monthly power generation deal with Azura soon. NDPHC's decision to conduct  investigation into the contract, follows the outrage expressed on the issue by the House of Representatives Committee on Finance last Friday. The committee was said to have been shocked that NBET was dragging the country into Power Purchase Aggregments that were detrimental to it and as a result, demanded that NBET should be investigated in order to avoid a much bigger problems to the sector. According to the committee, immediate  review of the Gas Purchase Aggrement ( GPA) between the Federal Government and a certain company for the supply of gas to its Calabar power plant is needed in order to know how the contract was executed.  The reason being that the said company was discovered to have been using the same...

By Akinola Ajibade The  recently restored licences of the fifty two radio and television stations would be revoke again, if they fail to pay their debts on or before Tuesday, August 23rd, the National Broadcasting Commission ( NBC) has said. The debts were licensing fees, which  according to NBC have accumulated over a period of years. The Commission ordered them to pay their debts latest 6.00pm Tuesday next week, following the decision by the Director-General, Mallam Balarabe Shehu Ilela to grant them extension on compassion ground. IPI Nigeria President, Musikilu Mojeed said:   " We are glad to report that the Director-General, NBC, Mallam Balarabe Shehu Ilela has graciously agreed to grant an extension on compassionate ground". Adding that: " Even though this  is a temporary relief, we are hoping that all parties will engage in the next few days, with a view to arriving at a lasting solution on the matter. We thank the Minister of Information, Alhaji Lai Moha...

Obaseki By Akinola Ajibade Edo  Governor, Mr Godwin Obaseki, has given police  seven days  ultimatum to conclude  investigation on the suspected ritual dens in the state. He gave the ultimatum in Benin, the state capital,  through his Special Adviser,  Mr Crusoe Osagie. The ultimatum was given during a joint briefing organised by the government at  the  police command headquarters. According to Osage, there was a  need for the police to quickly unravel the controversies surrounding the issue due to the insinuation in some quarters that the place was a morgue and not a shrine. Recall that News Agency of Nigeria (NAN) had reported this week( Thursday)  that the government bursted a  shirne, suspected to be used by ritualists for criminal activities. The report further said that three suspects were arrested with 20 mummified bodies. “There are a lot of speculations going around that the place is a quack morgue where they pr...