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‘Natural Gas To Become Global Fastest Growing Fuel’ By Emeka Ugwanyi

 

ExxonMobilAmerican oil giant, ExxonMobil, has predicted that natural gas will be the world’s fastest growing fuel by 2040, adding that global energy demand at the same period will grow by 45 per cent while the world’s population will increase by two billion people.

Its General Manager, Deepwater Operations, Nigeria, Mr. Oladotun Isiaka, stated this during the presentation of ExxonMobil’s 2014 Energy Outlook Series in Lagos. He emphasised the indispensable role energy plays in the activities of human beings and the need to reinforce efforts in making it available.

During the presentation of the company’s survey titled “The Outlook for Energy: A view to 2014,” Isiaka stated that energy remains key in global trade and the movement of people across borders adding that billions of people across the world still rely on traditional biomass energy for cooking.

He said the essence of the survey was to give an idea or projection on what the energy sector will look like in the next 30 years. “Our world runs on energy, which is fundamental to our way of life and growing economy. While people’s needs and modern technologies continue to evolve, so too does energy landscape,” he stated.

According to him, ExxonMobil’s energy outlook is shared globally to broaden understanding of the energy opportunities and challenges faced in the years ahead. He said the outlook is vital and important for Nigeria as an energy rich and energy dependent nation.

Fuel Subsidy Resurfaces … The Nation

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About three months after the contentious issue of fuel subsidy removal made the headlines in the country, the Minister of Petroleum Resources, Diezani Alison-Madueke, rekindled the matter on Tuesday at the ongoing 8th edition of the Oil, Trading and Logistics (African Downstream) Expo in Lagos. According to the minister, who was represented at the occasion by the Deputy Director, Gas, Department of Petroleum Resources, Oliver Okparaojiako, “The truth is that heavy subsidy is unsustainable expenditure even in the long term. It generally promotes energy inefficiency and imprudent consumption … To provide a competitive market environment and sustain supply, the downstream should be fully deregulated”.

The last time there was a sustained focus on the matter was around July when the Federation Accounts Allocation Committee insisted that retention of fuel subsidy was a fraud against the country. We understand where the Forum of Commissioners for Finance of the 36 states of the Federation who form the bulk of the committee members was coming from: their share of the revenue from the centre government was dwindling. They wanted the shortfall augmented but could not care from where.

As usual, fuel subsidy came handy, notwithstanding the opposition of the generality of Nigerians to its removal. Indeed, the impression was given then that the country would have collapsed by now if the subsidy had not been removed. Here the country is, still standing, in spite of the hiccups which were not as pronounced then as they are now in the international oil market.

Global demand growth for fuel weakens, says IEA by Akinola Ajibade

International-Energy-Agency-IEAGlobal demand growth for fuel has weakened, the International Energy Agency (IEA) has  said.

The agency warned that the rise in Middle East refining capacity would create huge glut of automotive gas oil or diesel.

According to the global energy watch dog’s monthly report, IEA forecast that the Middle East’s net oil product exports will reach nearly one million barrels per day (bpd) next year from an average of less than 400,000 bpd last year.

Newly built mega refineries are coming into production just as demand growth for their core product – diesel – is beginning to fade, which could leave them searching for outlets, the IEA said.

“The configuration of the plants, designed to maximise diesel production, seems somewhat at odds with market trends that in recent months have shown stronger demand growth for gasoline and jet fuel than for middle distillates,” the agency said in its Oil Market Report.

Coca-Cola Nigeria introduces Fanta apple flavour …. Daily Independent

Coca-Cola Nigeria Limited has launched its new Fanta Apple flavor soft drink into the Nigeria market.coke

According to the company’s Marketing Director, Patricia Jemibewon, the new apple flavoured drink has been specifically formulated for the youthful consumer segment with a great fruity apple taste that Nigerians would love

“The apple-flavoured drink is targeted particularly at the youth and has been developed for Nigerian taste buds. We have had an excellent response on our other variants and with the national launch of Fanta Apple, we are extending our market leadership in the fruit-flavoured sparkling drink segment,” Jemibewon said.

She disclosed that the new Fanta Apple flavor is the result of extensive market research in the beverage sector, which confirms that

Still waiting for the Chibok girls …. Daily Independent

chibokAlmost two weeks ago, the Chief of Defence Staff, Air Marshal Alex Badeh announced that the federal government and the representatives of the Boko Haram group had sealed a ceasefire agreement. Marshal Badeh, reportedly noted that a ceasefire truce was reached with the insurgents, in order to facilitate a safe release of over 200 Chibokgirls, kidnapped by the Islamic fundamentalist group from their school in the midnight of April 15, 2014.The latest development came on the same day representatives of the government, Chad and the insurgents held strategic talks over the release of the girls. Following the announcement of the agreement, public expectations have been high that their captors would soon release these abducted girls.

Of course, this is not the first time Nigerians would receive the news of the release of the Chibokgirls.Only recently, some of the abducted girls were reported to have been released by the insurgents and driven in a bus to an Army Barracks in Maiduguri, capital of Borno State in the North-East region. But the Defence Headquarters later denied this. However, this Newspaper hopes that this time around, the reported news of possible release of the Chibokgirls would be a reality. Indeed, Nigerians are growing weary of the endless promises by the government on the release of the girls. For one hundred and ninety-five days, these girls have been denied the love and care of their parents and the government does not seem to have a definite answer as to when they would be released. Over time the government has been criticised for the poor handling of the Chibokgirls affair and the inability of the Country’s military to contain the activities of the insurgents in the North-East of Nigeria. Even now, some Nigerians believe that the agreement for possible release of the Chibok girls is doubtful, alleging that it may be a ploy to shore up more support for President Goodluck Jonathan’s re-election bid.

Nigeria’s Ministry Of Health, Others Mismanage $29 Million Meant For Vaccination Of Children—Auditors

 

onyebuchi-chukwu-2010-9-20-13-41-16_0Another significant fault the report found was that a number of cash advances were used to pay staff allowances. Cash advances for staff training were also reportedly transferred into the bank accounts of NPHCDA accountants, amounts as high as N91 million (US$600k) going to individual staff members. “The audit noted instances of discrepancies between the cash advance transferred to the accountants’ bank accounts and the amounts withdrawn by the accountants for planned programme activity,” Gavi says.

The Global Alliance for Vaccines and Immunization (GAVI), a public-private global health organization that assists with vaccine procurement, yesterday released the findings from an audit of $29 million USD in funding given to Nigeria between 2011-2013.

The Programme Fiduciary Oversight team of Gavi, which is based in Geneva, found that the Nigerian Federal Ministry of Heath and the National Primary Health Care Development Agency (NPHCDA) were guilty of arrant malpractice and fraud.

The findings, released in Geneva, claim that the funds—intended for procurement of vaccines and health systems strengthening for children in Nigeria—were badly misused.

Jonathan Overrules NFF, Orders Reinstatement Of Keshi … Sahara Reporters

keshi guardian co uk

The President was believed to have given the orders during his meeting with the bosses (Chris Giwa and Amaju Pinnick) of the two warring factions of the Nigeria Football Federation at the Aso Rock Villa yesterday where he asked them to resolve all issues between them by next week and should be sent a report.

The President was believed to have given the orders during his meeting with the bosses (Chris Giwa and Amaju Pinnick) of the two warring factions of the Nigeria Football Federation at the Aso Rock Villa yesterday where he asked them to resolve all issues between them by next week and should be sent a report.

Jonathan at the said meeting also asked Chris Giwa to vacate the court case in Jos, Plateau State, and ordered the immediate return of Keshi who has endeared the President since his nations cup win last year.

It remains to be seen whether the former Togolese manager would accept the invitation to go back to a job he said had given him serious headaches in the last few months. The gaffer threw a sharp parting shot by calling Nigeria “an unserious football country” after his departure earlier this month.

Nigeria’s poor ranking on Global Hunger Index … The Sun

Akinwunmi-AdesinaTHE growing fear of a food cri­sis in Nigeria has been given credence by the country’s poor ranking on the recent Global Hunger Index (GHI) of the Food and Agricultural Organisation (FAO). The index grouped Nigeria among the countries with a high level of hunger threat, with an index of 14.7 compared with Ghana’s 7.8. Higher index scores, the report said, indicate higher levels of hunger threat in the rated countries.

This report should be a wake-up call to the Federal Government on the need to rev up its food sufficiency pro­grammes, to which N720 billion has been committed in the last one year. The document, which focused on “hid­den hunger”, was compiled by the In­ternational Food Policy Research Insti­tute. It placed the level of hunger threat in Nigeria at “serious”, while that of Ghana was described as “moderate”.

Coming one year before the United Nations’ 2015 deadline for achieving the Millennium Development Goals (MDGs), the report noted that regard­less of the progress made by countries listed as having high level of hunger such as Nigeria, “hidden hunger” is a critical aspect of the food insecu­rity problem that has often been over­looked. This is hunger related to mi­cronutrients deficiency. This aspect of hunger is reported to afflict about two billion people around the world

2015: OPEC sees little output change, says don’t panic … The Vanguard

OPEC’s oil production is unlikely to change much in 2015 and there is no need to panic at the crude price drop, OPEC’s secretary general said yesterday, adding to indications the exporter group is in no hurry to cut output.

opecAbdullah al-Badri also said output of higher-cost oil supplies such as shale would be curbed if oil remained at around $85 a barrel, while the Organisation of the Petroleum Exporting Countries enjoys lower costs and will see higher demand for its crude in the longer term.

Oil’s drop below the $100-mark, the level many OPEC members had endorsed, has raised the question of whether OPEC will cut supply when it meets in November. Badri said OPEC’s output was unlikely to change much next year, adding to signs a decision to cut in November is unlikely.

“I don’t think 2015 will be far away from 2014 in terms of production,” Badri told reporters in London at the annual Oil & Money conference. “There is nothing wrong with the market.” Brent crude LCOc1 has dropped more than a quarter from above $115 per barrel in June as abundant supplies of high-quality oil such as U.S. shale have overwhelmed demand in many markets, filling stocks worldwide.

Keshi to return as Eagles coach …. Daily Independent

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Indications have emerged that Stephen Keshi will return as the head coach of the Nigeria Super Eagles, supersport.com can report.

Supersport.com learned from an inside source at the NFF on Thursday morning that Nigeria president Goodluck Jonathan has ordered that the former Nigerian international be reinstated as the head coach of the African champions.

The source added that the president had an emergency meeting with troubled NFF president Amaju Pinnick on Wednesday night and advised that Keshi should return as the national team gaffer.

“I can confirm to you that Stephen Keshi will return as the head coach of the Super Eagles because of the presidential intervention.

“The president (Jonathan) met with all football stakeholders last night and he told them that Keshi must return as the Super Eagles coach with immediate effect,” the source revealed to supersport.com

How to locate a lost phone by Chima Oleru

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A smartphone is more than just a device that makes calls. For many, it’s an indispensable part of our daily lives, containing calendars, financial information and treasured photos – things that aren’t easily replaced when a phone is lost or stolen. Fortunately, most smartphones are now equipped with GPS, allowing you to locate them and (if retrieval isn’t possible) remotely wipe your sensitive information. Although options are limited once your phone is gone, a little foresight goes a long way. Installing a phone-locator app now can save a lot of time and worry in the future.

 Find your iPhone

For iPhone users, the Find My iPhone app is a must-have. Although it debuted as part of Apple’s Mobile Me subscription service, the iOS 4.2 update it made it free for current-generation devices. With Find My iPhone, you can see the approximate location of your phone on a map, send a message to it (even if it’s turned off), change the password and lock the device to keep intruders from accessing your personal data, and reset the phone to factory settings (removing all of your personal information, photos and videos) if you don’t think you’ll be able to get it back. Setup is pretty easy – just tap “Settings,” then “Mail, Contacts, Calendars,” then “iCloud.” Tap “Account” and sign in with your Apple ID; after signing in, tap the switch next to “Find My iPhone” and toggle it on. If your phone ever goes missing, log in to iCloud.com and click “Find My iPhone” to get started.

The Power Sector Intervention Fund and Matters Arising by Ayodele Oni

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To guarantee effective gas supply to power generation companies and find a sustainable resolution to electric power sector challenges in Nigeria, the Nigerian government announced a N213 billon power intervention fund to cater to the legacy gas debts and address the revenue shortfall in the power sector. Whilst outlining the scope of the issues that the N213 billion facility is designed to address, the current minister of petroleum resources stated that the fund would be used to (a) settle the legacy gas debts which stands at N36 billion, (b) execute agreed metering programs and (c) procure transformers by distribution companies and execution of maintenance programs and procurement of equipment by generation companies.

Use of Funds

Settlement of Legacy Gas Debts

From transactional experience, the writer is aware that the legacy debt owed to, particularly, international oil corporations (“IOCs”) is a major problem in the subsector as many of these IOCs are unwilling to negotiate gas sale arrangements with or make gas available for off-take (by the successor power generation companies) as they claim that they are owed several sums (estimated at over N200 billion), particularly by the Power Holding Company of Nigeria (“PHCN”) (now in liquidation).. 

Nigerian stocks ready to rebound after relative selloff by Iheanyi Nwachukwu

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In the recent past, the Nigerian stock market had a relatively big selloff that buoyed investors’ cry, but the market is coming back nicely.
The stock market’s year-to-date (YtD) loss in the negative territory of 5.42 percent as of last Friday, further creates some opportunities for investors to get back in the market with cheaper good stocks.
As third-quarter (Q3) earnings trickle down at the bourse, investors are already pricing into fundamentals of companies that released impressive results, a development that can validate the optimism for a rebound.
Most analysts would put everything on earnings season, because it continues to be a big deal in the market – we are right in the middle of it.
Though the market gyration continued this week like other global markets, the NSE All Share Index and market capitalisation had last week risen by 2.33 percent to close at 39,087.10 and N12.906 trillion, respectively.

What exactly is “clueless” about Goodluck Jonathan? (3) By Femi Aribisala

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By the time you are reading this, by the grace of God, the 218 kidnapped Chibok school-girls may have been released. If not, their release is imminent. A ceasefire with the Boko Haram has been negotiated. Never mind that there are still skirmishes here and there. “Clueless” Goodluck Jonathan has forced the insurgents to consider seriously putting down their arms.

He has done this in spite of the nagging of the opposition about his “cluelessness.” He has done this through the much-maligned Nigerian military; and without mortgaging the nation’s security to foreign troops. Now is the time to give the microphone to Lai Mohammed, who talks about Nigeria’s security as if he were a Chadian. Now is the time to hear from Muhammadu Buhari, who claimed in the past that Boko Haram is a malevolent Southern conspiracy against the North.

What would these implacable critics of Goodluck Jonathan say if the girls were released now? Would they be gracious and eat their words? Don’t bet on it. Don’t expect them to commend the purposeful tactical manner by which the Jonathan administration has forced the Boko Haram, at the very least, to the negotiating table. It is increasingly apparent that if Jonathan is “clueless,” his “cluelessness” is the magic that Nigeria needs at this very moment in time.

The Second Round Of Goodluck Vs Buhari: A Source Of Apprehension By Dr Ahmad Gumi

Nigeria is in such a deplorably inflamed state of insecurity and mutual mistrust between different segments of the society that doesn’t require another dirty second round of GOODLUCK vs BUHARI. In fact that will cause another severe ‘political anaphylaxis’ that can lead to shock and ultimate death of the nation we all aspire to live in… peace with. Sheikh Gumi

Before you start gasping for air in shock or disappointment – the usual reaction from fanatical followers of men and not reason- let me categorically say I am not a fan of any politician nor am I partisan. I know politicians have double personalities. The public image and the true one. My interest is that the nation should heal and my Islam should have it’s proper place in the fabric of its adherents not being framed, maligned or misrepresented. 

Neither Goodluck nor Buhari solicited for my views or counsel before showing their ambition to contest for the presidency this time. Each has his own political advisers and praise singers from across the nation. This puts me at the same length from the two, obliging me to do what I believe is right. I feel it is time we blow the referee’s whistle to end the fight before it starts.

Let us be frank with ourselves, GOODLUCK VS BUHARI is going to be a war of two extreme poles. This polarized situation is what should be avoided at all cost. Whether Goodluck likes to hear it or not, he is seen by most Muslim masses in Nigeria as the most pro-Christian president. The CAN and the wealthy jet trotting pastors the nation is shocked with have never had it better. This has tainted PDP as a CAN party. For that most Christians will still vote for Jonathan despite the deplorable state of the nation and gross misgovernance from share recklessness and incapacity. He is still better to them than Buhari.

On the other hand, Buhari’s popularity surged to messianic peak among the ordinary northern Muslims not because of his incorruptible ascetic-like qualities but the day he debunked the Atiku’s ‘back to status quo’ declaration during the heated Sharia and Anti-Sharia debacle of Zamfara’s Sharia reintroduction. This same reason, Christians are still not comfortable with him. 

My fear here is that what Buhari did was the right thing and should never regret it even if it cost him his presidency. That is his most pleasurable achievement to Allah for standing against for his own faith being tarnished and politicized. The moment he stands for the presidency he has two options, lose the Christian votes or dilute his Islamic credentials by going extra miles to prove he is not an islamist which they all know he is not.