Onshore-Off Shore Dichotomy: Labour cautions against moves

Labour leaders from oil producing States in Nigeria has cautioned that the renewed agitation for the re-introduction of the on-shore off-shore dichotomy portends great danger for the unity of the country describing it as uncalled for and unnecessary diversion. The labour leaders stated their position in a communiqué issue at the end of the Joint Meeting of Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) Oil Producing States Forum held in Uyo, Akwa Ibom State capital.

The six point resolution signed by the chairmen and secretaries of the NLC and TUC of the oil producing states posited that even the 13% oil derivation was inadequate and should be reviewed upward. The meeting tasked the Federal Government must be courageous enough to review out system of fiscal federalism such that states and local governments would be effectively motivated to grow their economies in their areas of comparative advantage rather than continue to depend on federal allocation.

The labour leaders blamed the poverty level, unemployment and insecurity in the country to many years of misrule and corruption and accordingly urged the Federal Government to demonstrate its determination, capacity and willingness to fight corruption being the bane of security in the country.

NNPC makes Oil discovery In Lake Chad Basin

Nigerian National Petroleum Corporation (NNPC) has announced the discovery of crude oil in about 3350 square metres in the Lake Chad Basin.

Vice President Sambo said during a meeting convened with experts within the NNPC and other public sectors at the State House, Abuja that the federal government is happy that surveys have indicated the presence of oil in the Chad Basin. Sambo expressed the appreciation of the Federal Government to the NNPC in the positive progress they are making in the exploration of hydrocarbon at the Lake Chad Basin. He noted that the budget provision is based on activity assessment and that the efforts so far expended and the achievements recorded so far will lead to the realization of the targeted goal.

The Group Managing Director of NNPC, Mr. Andrew Yakubu said that on the submission of the report of the investigation into the exploration of oil in the area, NNPC commissioned its subsidiary and consultants to start the exploration. The consultants include Chinese companies that had worked in similar ventures in Niger and Chad where crude oil has been found in commercial quantity. He noted that due to the high technology employed for the exploration, the area was divided into four phases and that work is currently ongoing on the fifth phase. Yakubu further added that three major sub-basins in the Lake Chad area namely Biu, Maiduguri and Barga had been identified and marked as low risk while work is currently going on in that area. But he pointed out that lack of security and adequate funding are the major challenges being faced in the speedy execution of the project.

The Lake Chad Basin, in the far North Eastern Borno State of Nigeria, is the hotbed of terror attacks and other forms of violence by the Islamic sect, Boko Haram.

Subsidy Scam: Three Oil marketers declared wanted

The Economic and Financial Crimes Commission (EFCC) have declared three oil marketers who are involved in the fuel subsidy scam wanted. They are Abdul Afeez Olarenwaju Olabisi of Fargo Petroleum and Gas Limited, Abubakar Peters Ali Jeldi, managing director of Nadabo Energy Limited and Ikechukwu Onuabuchi Nworgu of Star Inspection Services Nigeria Limited.

According to the acting head of media and publicity of the commission, Wilson Uwajuren, they were declared wanted by the commission for offences bordering on Criminal Conspiracy, Forgery, Obtaining Money by False Pretenses and Money Laundering running into several billions of naira.

The statement described the trio as “Olabisi, 31, hails from Kwara State and speaks Yoruba, Hausa and English languages fluently. His last known address is Fargo Petroleum and Gas Limited”.

“Jeldi, 34, is of the Igala stock from Kogi state, North Central Nigeria. He speaks his native Igala, Hausa and English languages fluently.  His last known address are 4B Louis Solomon Close, Victoria Island, Lagos and 15 Ogbunike Street , Lekki, Lagos”.

“Nworgu, 46, hails from Abia State . He speaks Igbo and English fluently. His last known address is Star Inspection Services Nigeria Limited, 4A, Lander Close, Off Liverpool Road, Apapa – Lagos

IBB, Abdulsalami, Tinubu jostle for PHCN Assets

Retired Generals Ibrahim Babangida and Abdulsalami Abubakar, (two former heads of state) as well as former Governor of Lagos State Ahmed Bola Tinubu, are the promoters of some of the bidding consortiums jostling for the 18 companies unbundled from the Power Holding Company of Nigeria (PHCN). Also topping the list of promoters is an oil magnate, Sir Emeka Offor; business mogul, retired Colonel Sani Bello; as well as allies of Vice-President Namadi Sambo.

North South Power Company Limited, which is believed to be promoted by Babangida, passed the technical evaluation for the Shiroro Power Station and would participate in the financial bid stage. North South Power Company was the only consortium that submitted bids for Shiroro, while Dangote Power and Super Tech belonging to business mogul, Aliko Dangote and Professor Jerry Gana, respectively, submitted late bids and were automatically disqualified.

Integrated Electric Nigeria Limited, promoted by retired General Abubakar as chairman, Mr. Tunde Ayeni and Dr. Shola Ayandele, is contesting with other bidders for Eko, Ibadan and Yola Distribution Companies. Oando Gas and Power, Lagos State Government, Tinubu and Honeywell are also bidding for the Eko and Ibadan Discos. The Oando Consortium, believed to be promoted by Oando Gas and Power, Lagos State Government and Tinubu.

13% oil derivation should be spent on host communities – RMAFC

The Chairman of the Revenue Mobilization Allocation and Fiscal Commission, Engr. Elias N. Mbam, has stated that the 13 per cent derivation from monthly allocation paid to oil-producing states should be exclusively spent on oil-producing communities. Mbam said this should be the case because the oil- producing communities suffer most from the impact of environmental degradation occasioned by oil exploration in their domain.

Mbam observed that the clarification became necessary in view of the fact that a larger percentage of the 13 per cent derivation fund meant for the development of host communities is unjustifiably spent in the development of state capitals and other urban centres thus negating the principle behind derivation.

Mbam lamented that the law establishing States and Local Governments Joint Account is an encumbrance on the successful operations of the 13 per cent derivation principle since the law confers absolute control of the Fund on governors rather than local council chairmen who govern the host communities.