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Bedeviling PIB with Obnoxious Provisions


Finally, the much-awaited Petroleum Industry Bill was passed by the two chambers of the National Assembly, recently. Of the 319 clauses and eight schedules that make up the bill, the ones concerning the host communities and the frontier development of oil have sparked national conversation, threatening to stir up a storm should reservations arising therefrom are not addressed before President Muhammadu Buhari’s assent. For them, giving three per cent, rather than the 10 per cent demanded, to host communities, stretching the definition to oil infrastructure transit communities and using other people’s oil profit to grope for oil in unlikely or impossible places, bring to remembrance some of the on-going open grazing controversy in the country. Chris Paul reports ....

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Nigerian Newspapers: 10 things you need to know this Thursday morning


Daily Post Nigeria
Published
Good morning! Here is today’s summary from Nigerian Newspapers:
1. Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa yesterday said the agency had recovered $150million from former Petroleum Resources Minister, Diezani Alison-Madueke. Bawa made this known during an interview in a television station on Wednesday.
2. Catholic Bishops in the South East have raised the alarm that Nigeria is in great danger, calling on President Muhammadu Buhari to, immediately, adopt a new spirit and approach to governance and issues of security. They made the call after an emergency meeting chaired by Archbishop Anthony Obinna of Owerri Ecclesiastical Province. ....

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Breaking News | EFCC lists items seized from former Petroleum Resources Minister, Alison-Madueke


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Abdulrasheed Bawa, the Chairman of the Economic and Financial Crimes Commission, EFCC, has revealed that among items seized from Diezani Alison-Madueke, Nigeria’s former Petroleum Resources Minister, are $153 million and  80 choice property valued at $80m.
This revelation was contained in the April edition of the anti-graft’s magazine, EFCC Alert.
The EFCC boss, in the publication, noted that bringing the former minister to justice was still far from reality, given the fact that she was out of Nigeria’s jurisdiction, acknowledging the challenges associated with bringing her home to face justice.
“There are several cases surrounding Diezani’s case. I was part of that investigation, and we have done quite a lot. In one of the cases, we recovered $153 million; we have secured the final forfeiture of over 80 properties in Nigeria valued at about $80 million. We have done quite a bit on that. ....

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Whither Crude Oil Price


ENERGY
On a good day, the increases recorded in the price of crude oil in the past week should call for celebration, considering the fact that the 2021 budget was benchmarked on $40 per barrel. Unfortunately, its impact on price of petroleum products at home, especially the highly combustible Petroleum Motor Spirit (PMS) with its accompanying inflammable discourse, policies, politics and public response, may have informed the nervous attitude by both the President Muhammadu Buhari administration and the Nigerian people to this otherwise good development. Chris Paul reports
The drone attack on a Saudi Arabian oil facility, early March, had caused the price of Brent to hit the roof at $71.28 per barrel at the international market, barely a few days after the crucial meeting of the Organisation of Petroleum Exporting Countries (OPEC), and non-OPEC members had resisted pressures to increase output. ....

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N-Power: 30,000 beneficiaries hired as agric enumerators – Presidency

The Presidency says no fewer than 30,000 erstwhile N-Power beneficiaries have been hired as agric enumerators. The News Agency of Nigeria (NAN) reports that the N-Power, cash-for-work programme, inaugurated by President Muhammadu Buhari in 2016 with 500,000 of direct beneficiaries, is spread across the key industries targeted by the programme – Agriculture, Health, Education, and […]
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