*Stakeholders Seek Nigeria’s Withdrawal from OPEC* *Airlines Urge FG to Cut Cost Of Aviation Fuel*

*Stakeholders Seek Nigeria’s Withdrawal from OPEC* *Airlines Urge FG to Cut Cost Of Aviation Fuel*

Sabinews Midday News Update for January 20, 2015MIDDAY NEWS


Stakeholders Seek Nigeria’s Withdrawal from OPEC

Stakeholders in Nigeria’s oil and gas sector have queried the relevance of Nigeria’s membership of the Organisation of Oil Exporting Countries (OPEC) and urged President Goodluck Jonathan to withdraw the country from the cartel.

These stakeholders gathered at the weekend in Lagos at a symposium organised in honour of a former Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Ayodele Marinho, who celebrated his 80th birthday. Read more

Airlines Urge FG to Cut Cost Of Aviation Fuel

Airline owners, under the aegis of the Airline Operators of Nigeria (AON), have urged the federal government to reduce the cost of aviation fuel following the continuous drop in crude oil price which has seen the black gold’s worth down by over 60 per cent. Read more

N87 per litre not favourable to Nigerians – NLC

The leadership of the Nigeria Labour Congress (NLC) has lauded the Federal Government’s decision to reduce the pump price of fuel from N97 to N87 per litre but noted that the N10 reduction was insignificant.

General Secretary of the union, Peter Ozo-Eson, in a statement reacting to the reduction, said prior to this decision, government had substantially devalued the naira, thus ensuring that the full benefits of falling crude price were not passed on to Nigerians. Read more

NEDG releases timetable for presidential debates

The Nigeria Elections Debate Group on Monday in Abuja said the 2015 presidential debates would hold between January 28 and February 5.

The Chairman of the Board of Trustees of NEDG, Mr Sola Omole, disclosed this to newsmen after a meeting of the board, hosted by the former Chairman of Daar Communications Plc, Chief Raymond Dokpesi. Read more

Resolving the Cooking Gas Supply Logjam

The price of crude oil at the international market dropped from $115 per barrel in June 2014 to less than $50 at the weekend, representing over 50 per cent slump and with the interconnectivity of the energy market, the plummeting crude oil price also affected the price of Liquefied Natural gas (LNG) and Natural Gas Liquids (NGLs). Read more

Nigeria’s Rising Debt Profile Worries Industrialists

The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern over the rising debt profile of Nigeria, noting that the nation can never achieve meaningful economic growth and development if its debt profile is on the high side.

LCCI president, Alhaji Remi Bello, explained that ‎the chamber is  deeply concerned about the growing budgetary appropriation for debt servicing in the country, stressing that Nigeria’s debt has grown from N712billion in 2014 to N943billion in 2015. Read more

Dolphins FC sign Nigerian defender from Libyan club

Nigeria Premier League club, Dolphins FC of Port Harcourt, are already preparing big for their campaign in the CAF Confederations Cup as they have announced the signing of Onyekachi Bartholomew Akakem from Khaleej Sirte FC of Libya to further bolster their team.

The new recruit is described as a versatile player who fits well as a central defender and as a defensive midfielder. Read more

West Ham eye Nigerian defender

West Ham are reportedly eyeing a move for £4m-rated Nigeria international defender Azubuike Egwuekwe.

With Winston Reid seemingly set to leave The Hammers with his contract running out in the summer and a new deal unlikely to be signed, manager Sam Allardyce has already started looking for a replacement for the New Zealand stopper. Read more

Kwara to Name New Head Coach

Nigeria Professional Football League outfit Kwara United is likely to name its new head coach before the end of the week.

The team is reportedly set to unveil a new tactician after agreeing terms with a gaffer, whom SL10 sources claims will move the team forward in the elite league. Read more

INEC creates additional 441 polling units in Ondo

Additional 441 voting centres, carved from polling booths that have more than 500 voting strength, have been created out of the 3009 units in the 203 political wards of Ondo State, the Resident Electoral Commissioner (REC), Olusegun Agbaje disclosed yesterday.

The REC who spoke at a stakeholders meeting hosted by the State Police Commissioner, Isaacs Eke in preparation for next month’s general elections, said the creation of the new centres was done for ease of logistics during the exercise. Read more

SEPLAT Gets January 30 Deadline for Takeover of Afren

As the initial deadline given to the Nigerian independent exploration and production (E & P) company, SEPLAT Petroleum Development Company, to indicate whether or not it intends to make a firm offer for the takeover of the United Kingdom-listed Afren Plc, expired on Monday, the company has received an extension to the deadline.

Seplat confirmed earlier this month that it had made a preliminary approach to take over Afren and that it had issued a January 19 deadline to firm up the deal. Read more

Posters: Fashola Accuses Jonathan Of Impunity

Lagos State governor Babatunde Fashola yesterday described the indiscriminate pasting of campaign posters of President Goodluck Jonathan in the state without making payments to local governments and relevant agencies in charge of advertising as an act of impunity.

Fashola who spoke at the All Progressives Congress (APC) campaign held in Oworoshoki area of the state said the act of pasting posters in Lagos by the ruling Peoples Democratic Party (PDP) without recourse to the relevant agencies is unconstitutional. Read more

Product still sells for N97 in Lagos, dealers lament in Benin

Despite the announcement of a reduction in price of petrol from N97 to N87, most fuel stations across Lagos State shunned the directive of the Federal Government, as the product still sells at the old price.

Minister of Petroleum, Diezani Allison-Madueke, had on Sunday night, announced the reduction, saying it was in view of recent reduction in the global price of crude oil, just as she directed the Petroleum Product Price Regulatory Agency (PPPRA) to immediately effect the change. Read more

Police Investigate Bombing of Politician’s Car

Lagos State police command is investigating the alleged bombing of a car belonging to a a politician in Ajegunle area of the state.

LEADERSHIP gathered that the car was said to have been parked on a street in the area when residents heard a loud sound and thick smoke billowing from the car in the morning. Read more

Osun PDP sacks Odeyemi as party’s spokesperson

The State Working Committee of the Peoples Democratic Party in Osun State  has sacked Mr. Diran Odeyemi as its director of publicity.

This was contained in a statement made available to our correspondent in Osogbo on Monday by the Secretary of the party, Mr. Bola Ajao. Read more

Global unemployment to hit 212 million by 2019

The International Labour Organization has warned that a slowdown in economic growth means more jobs will be lost over the next four years and calculated that 212 million people will become unemployed by 2019.

According to the ILO’s World Employment and Social Outlook – Trends 2015 report, more people will be unemployed than in the onset of the credit crisis in 2007. Read more

China’s growth slowest in 2 decades

China’s economic growth slowed to 7.4% in 2014, the weakest expansion in more than two decades, and is forecast to slip further over the next two years.

The numbers released today are still miles ahead of growth rates in major industrialised economies, but represent a sharp decline from sizzling double digit growth in previous years. Read more

Outlook email taken down in China, as Gmail block continues

Microsoft’s Outlook email service seems to have been taken offline over the weekend, weeks after Google’s Gmail was taken offline.

Outlook appears to have been taking down using a “man-in-the-middle” attack, according to Greatfire.org, the Chinese internet monitoring group. Such attacks allow those carrying them out to listen in on emails — users are usually alerted to the fact by a pop-up, but not always, and stopping people doing so will mean not using email at all. Read more

Israel Arabs declare nationwide strike 

Leaders of Israel’s 1.7 million Arabs declared a general strike throughout the country on Tuesday in protest at the recent deaths of two Bedouin men in confrontations with police.

Former member of parliament Taleb al-Sana, chairman of an umbrella organisation of Arab Israeli groups, said that schools and businesses would close from the Galilee in the north to the Negev desert in the south. Read more

Turkey: 20 detained for allegedly eavesdropping on Erdogan

Turkey’s state-run news agency says police have launched raids in Ankara and three other cities, detaining some 20 people suspected of illegally eavesdropping on President Recep Tayyip Erdogan and other senior officials.

Anadolu Agency says the suspects, detained early on Tuesday, are linked to Turkey’s telecommunications authority and to its scientific and technological research center. They are suspected of wiretapping phones, included encrypted ones used by government officials. Read more


Follow us @sabinewsnaija




About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *