Wednesday, 12 March 2014

We’ll resist privatisation of refineries – NUPENG

The Nigeria Union of Petroleum and Natural Gas Workers has said that it will resist plans by the Federal Government to privatise the country’s refineries.
The President, NUPENG, Mr. Achese Igwe, said in a statement, “NUPENG takes serious exception to the comments made by the Minister of Petroleum Resources, Mrs. Deziani Alison-Madueke, that the nation’s refineries must be privatised.
“The minister’s comments are uncalled for, unnecessary and a mere diversion from the failure of the ministry to address the problem of scarcity of petroleum products currently being experienced in the country.
“NUPENG will resist any attempt by the Federal Government to go back on the agreement signed with the unions on January 7, 2014 in Abuja that the nation’s refineries will not be privatised.”
It said that in a Memorandum of Understanding signed at the end of the meeting, the two trade unions in the oil and gas sector, NUPENG and PENGASSAN, agreed with the Federal Government to engage in social dialogue to develop viable and workable business models for the nation’s refineries.
The statement added, “The union makes bold to say that billions of naira had been budgeted and purportedly spent on the Turn Around Maintenance of the refineries with nothing to show for it.
“We state that the refineries must be rehabilitated to work optimally, which will account for at least 70 per cent of domestic production, instead of selling the nation’s strategic assets.”
NUPENG said the minister should concentrate more on how the Petroleum Industry Bill  could be passed so that the oil and gas industry would be opened  up for investors to come in and establish more refineries and those already given licences would be encouraged to come on board.
It stressed that the quick passage of the Petroleum Industry Bill would ensure transparency and accountability, and boost investors’ confidence, rather than allowing the current massive importation of petroleum products, which a few cabals were benefiting from at the expense of the nation.
The union said it believed that the transparency agenda of the President on job creation should be enhanced by allowing interested investors to set up private refineries.

NFF budgets N3.9bn for projects, AGM

The Nigeria Football Federation has said it is budgeting about N3.9bn for its 2014 activities different from the Super Eagles’ Brazil World Cup campaign.
The Secretary-General of the NFF, Musa Amadu, announced this in Abuja while defending the football body’s 2014 budget before the Senate Committee on Sports.
Amadu said the budget, when approved, would take care of other national teams’ competitions since the Eagles’ World Cup campaign already has a separate budget.
The News Agency of Nigeria reports that the NFF has already submitted a separate budget of N2.08bn for the World Cup campaign.
“NFF’s events for 2014, as well as overhead costs and capital projects like the furnishing of its new secretariat and personnel matters will also be catered for in the main budget,” Amadu said.
He said the non-approval of NFF’s capital budget for 2013 had thwarted the plan by the federation to relocate to its new secretariat since the completion of the building last year.
The NFF secretary-general also said the association’s Annual General Meeting proposed for Aug. 26 or Aug. 27 in Abuja would gulp part of the money being asked for. He explained that the 2014 AGM was important to the NFA since it was an elective meeting.
Meanwhile, tickets for 60 of the 64 matches at the World Cup this June and July went up for sale to the general public on Wednesday. The tickets released include the three group matches Nigeria will play in Brazil in the preliminary round.
The sale is in the second window of the second sales phase. According to a statement by FIFA Media, no tickets are however available for the Opening Match of June 12 in Sao Paulo. The same applies to the Final of July 13 in Rio de Janeiro, in addition to the two semi-finals in Belo Horizonte and Sao Paulo.
About 345,000 tickets will be available for sale during this period in question.

NCC may force telcos to list on NSE

In  order  to realise the target of $1tn capitalisation by the Nigerian Stock Exchange by 2016, the Nigerian Communications Commission may require the major telecommunications companies in the country to list on the bourse before their licences will be renewed.
Our correspondent gathered from sources on Wednesday that part of the requirements for licence renewal for the telecoms firms would be their listing on the NSE.
Despite the transformation that the Exchange has gone through in recent years, its bid to get multinational oil companies and telecoms firms operating in the country to list on the Exchange has not yielded positive results.
A reliable source at the NCC, who craved anonymity said, “The telcos may be required this time to list on the NSE; it will likely be one of the licence requirements. Although the telcos have always kicked against this, but it will definitely happen one day and the time is now.”
When contacted, the spokesperson of the NCC, Mr. Tony Ojobo, refused to comment on the issue. He, however, said in a text message sent to our correspondent, “Let’s wait till then.”
The Head, Communications Department, NSE, Mrs. Nwando Ajene, confirmed that the telecoms firms might be coming to the Exchange soon.
“We have a series of initiatives we are working on to make companies, especially the telecoms firms to come to the NSE,” she said.
Another source in the NSE told our correspondent, “The Exchange has done much towards realising the $1tn market capitalisation but there are lots yet to be done before we will get there, particularly in the area of getting more companies quoted on the Exchange.
“The moment you can get the companies listed, it will add to the capitalisation of the NSE.”
The Chief Executive Officer, Fatrax Securities Company, Dr. Wale Ositelu, blamed the Federal Government for the refusal of the firms to list their shares, saying, “When these telecoms firms were about commencing operations in Nigeria, the government ought to have mandated them to list on the NSE.
“The Federal Government should have put the necessary modalities in place for their operation in the Nigerian market. This would have been a good avenue to get them listed in the market. Moreover, the government should have probably after three or four years of their successful operation made this known to them as part of the conditions for their operation in the country because they are big companies and they will add value.
“However, the government should begin to look at legislation that will insist that such companies, if they must operate in Nigeria, must be quoted.”

Actress Toyin Aimakhu Collapses At Nollywood Football Match

All eyes was on actress Toyin Aimakhu as she collapsed when Nollywood stars stormed Ghana for this funny but interesting football match. A generation of actors with big tummy and others who do not even have the stamina all filed out for the match. This is one of the funniest scenes I've seen. More photos below...
I just hope they defeated Ghana with all this shakara?

Gusau Accepts The Apology, Returns to Jonathan's Government

Reports coming from Aso Rock, the seat of power in Abuja are pretty sensational and it appears the political calculations of President Goodluck Jonathan and his boys will not be served by the newly sworn in Minister of Defence, Gen. Aliyu Gusau, as they intend to have a "yes man" who will help them win the election.

But President Jonathan is not ready to let Gusau leave his cabinet as he's seen as a big fish and if due care is not taken, the leading opposition party, APC, may grab him and work with him for their victory in 2015.

Consequently, Senate President David have been reaching out to all past leaders to help talk to Gusau to give President Jonathan's government a second chance and withdraw his resignation...

Finally, following the intervention of some ex-leaders and military chiefs, General Gusau has decided to stay in the government but on certain conditions that are being kept secret. But sources in Abuja say he will have a free hand to operate in the Ministry of Defence and if he sense any "foul play", he'll quit completely.

Aliyu Gusau is a no nonsense man. We wait to see how things will unfold in the coming weeks.

PHOTOS: Comedian I Go Dye Building Multimillion Naira Castle

Popular comedian I Go Dye is indeed a Game Changer. The guy is now building his second mulitimillion naira mansion in Benin City. The building is actually a royal castle. Waoh! Check out more photos below...


I Go Dye's castle, a model of "French Luxury Chateaux des Reves" is almost completed. Congrats to him!

Nicki Minaj Shows Off Everything She's Got In New Photos

Female rapper Nicki Minaj is having a séxy holiday in Mexico, she decided to spoil her fans with photos...