Fuel Subsidy Scam: Tukur Stands Surety for Son

Fresh facts emerged that the National Chairman of the Peoples Democratic Party (PDP), Alhaji Bamanga Tukur, may have stood as surety for his son, Mahmud, to travel abroad despite repeated explanations by Tukur that he would not interfere in his son’s trial.

Mahmud is among the suspects who were recently arraigned by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding the Federal Government of billions of naira in the fuel subsidy scam.

 There had been pressure for the PDP national chairman to resign his position, following the arraignment of his son and others suspects but he had assured those calling for him to step down that he will not interfere in his son’s trial since he was old enough to defend himself.

However, indication that Tukur may have had a rethink emerged when some directors of OM&Ts, who recently regained their freedom after meeting their bail terms, approached an Ikeja High Court, seeking the permission of the court to travel abroad.

Those who applied for the release of their international passports to enable them travel abroad alongside Tukur’s son are Abdullahi Alao, son of the prominent businessman, Alhaji Abdulazeez Arikesola-Alao, and Mr. Felix Ochonogor.

The three defendants were in July arraigned before Justice Adeniyi Onigbanjo by the EFCC. Their offences bordered on conspiracy, obtaining money under false pretence, forgery and use of false documents.

http://www.thisdaylive.com/articles/fuel-subsidy-scam-tukur-stands-surety-for-son/122963/ 

FG: Overhaul of Power Sector will boost Industrialization

The Federal Government has reiterated its determination to overhaul the power sector with a view to boost industrialisation in the country. Vice-President Namadi Sambo gave the assurance while receiving the Director General of the United Nations Industrial Development Organisation (UNIDO), Dr Kandeh Yumkella, who paid him a courtesy visit in his office at the State House, Abuja.

 Sambo, who commended the United Nations for its developmental agenda, said the Federal Government’s transformation agenda was geared towards addressing power-related issues, especially in the use of a holistic approach.

 A statement by the Senior Special Assistant to the Vice-President on Media and Publicity, Mallam Umar Sani, said: “Part of the strategies being employed was the use of Public Private Partnership (PPP) avenue to develop small and medium hydro-power projects.”

 The Vice-President, “stated that studies have been completed for 10 hydro-power plants and 17 more are undergoing such studies and that transaction advisers are being appointed. He said Nigeria has over 200 existing dams and that the combination of water, power and irrigation will lead to boost in both small and big business.”

 Sambo further stated that the wind-to-power pilot scheme was currently ongoing in Katsina State for 10 megawatts, stressing that government was trying other alternatives sources of energy, including waste-to-power to ensure a revolution in the power sector.

NUPENG: Nationwide strike on hold

The Nigerian Union of Petroleum and Natural Gas Workers said it had put hold the nationwide strike the union members scheduled to commence on Thursday August 23, 2012. The President of the union, Mr. Achese Igwe, who made the announcement after a meeting with federal government, said the ongoing strike in Abuja would however continue.

The meeting between NUPENG, representatives of the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and government, took place in the Office of the Secretary to the Government of the Federation (SGF).

 Those present at the meeting included the SGF, Senator Pius Anyim; Minister of Labour, Mr. Emeka Wogu; Minister State for Finance, Dr. Yerima Ngama; Permanent Secretary, Ministry of Labour, Mr. Tunji Olaopa; acting President of the NLC, Comrade Promise Adewusi; NLC Deputy President, Comrade Joe Ajaero; NUPENG President, Comrade Igwe Achese; Secretary General, TUC, Comrade John Kolawole; and some representatives of petroleum tank farms.

 At the meeting, the parties agreed that the status quo shall remain until negotiations are concluded. The implication is that fuel scarcity in Abuja would remain unresolved while the union would hold off halting supply of petroleum products to other parts of the country.

NUPENG had threatened to embark on a nationwide strike if the government refused to pay subsidy claims of marketers. The union had on Thursday last week started an industrial action in the Federal Capital Territory. The strike has led to fuel scarcity in the FCT.

Sanctions bite Iran as Asian Oil Market offer relief

The planned visit by Manmohan Singh, the first by an Indian prime minister in more than a decade, puts into sharp relief the sanctions-easing strategies by Iran — and the political complexities for Washington that limit its pressure on Asian powers needing Tehran's oil. Tehran tries to offset the squeeze from Western oil sanctions by courting energy-hungry Asian markets.

Oil purchases by India, China and South Korea — which decided to resume Iranian imports — have not covered Tehran's losses after it was tossed out of the European market in July. But they have given Iran a critical cushion that brings in tens of millions of dollars in revenue a day and means that Iran has dropped only one ranking, to stand as OPEC's third-largest producer.

The U.S. has pressed hard for Iran's top customers — China, India, Japan and South Korea — to scale back on crude imports, with some success, offering in return exemptions from possible American penalties. But Washington cannot push its key Asian trading partners too fast or too aggressively and risk economic rifts. Still, it's clear the U.S. is unwilling to risk trade wars with key Asian trading partners, even over the showdown with Iran.

For Iran, however, there's a parallel fight: Trying to keep the oil flowing to its key Asian customers, possibly through deals to sell at below-market prices.

Petroleum Minister urged to sanction Agip boss over Nigerian Content

Niger Delta Indigenous Movement for Radical Change, NDIMRC, has urged the Petroleum Minister, Mrs. Diezani Alison-Madueke, to call the Vice-Chairman/Managing Director of Nigerian Agip Oil Company, NAOC, Mr. Ciro Pagano, to order over the Nigerian Content Act, imploring Economic and Financial Crimes Commission, EFCC, to also investigate activities of the company.

The group, in a statement by its President, Nelly Emma, praised the Petroleum Minister for her transparency in the industry and encouragement of indigenous companies, but urged her to sanction Agip boss, over his alleged continued subversion of the Nigerian Content Law.

The group noted that two years on after President Goodluck Jonathan signed the Nigerian Content Bill into law; Agip was still carrying on its operations as usual and has allegedly refused to carry indigenous companies along. It assured the minister of its preparedness to fully support her actions in enforcing the Nigerian Content Law to the letter.