There are indications that Nollywood up and coming actress, Mary Remy-Jason will soon put to bed. This is because the actress and wife of Irokotv boss, Jason is very heavy and from the latest picture obtained by us, she is expected to be delivered of her baby in a matter of weeks from now.
Those in the know informed us that "before the end of July, Mary will put to bed." As we also heard, her husband can't wait to have their first baby.
"He's very excited and he doesn't like his wife to go through any stress. Jason is such a lovely husband and he will be a good father," an industry source told Nigeriafilms.com.
Jason and Mary married in late 2012 in Festac Town, Lagos.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
Eleven people were burnt to death in an accident at the Macmillan area, few metres before Soka Bus Stop, on Ibadan/Lagos Expressway, Ibadan.
The occupants of the Mazda bus, a commercial vehicle, were coming from Ogido in Ogun State and heading to Beere in Ibadan, to attend a Wolimat programme of a family member.
It was also gathered that most of the occupants were dressed in a uniformed ankara for the occasion.
The propeller of the bus, according to the eyewitness, pulled out on the motion and hit the fuel tank, catching flame in the process.
The driver of the bus, in an attempt to save the situation, veered off the road and hit a hip of sand by the side of the road.
The driver and two passengers at the front escaped, but others were not so lucky, as the side door was locked.
The occupants were reported to have struggled with one another in a bid to escape, while the 11 casualties, comprising eight adults and three children, were burnt to death.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
About 175 inmates of Olokuta Medium Prison in Akure, Ondo State early Sunday escaped from the facility when gunmen numbering about 30 attacked the prison located on Ondo Road in the outskirt of the state capital.
It was gathered that the gunmen, who arrived the prison premises located few meters from the headquarters of the 32 Artillery Brigade, Owena Barracks around 12:05 a.m, started shooting sporadically.
Before they arrived the main entrance, the gunmen were said to have destroyed street lights, which led to the prison from the main road with bullets during which one of the officers on duty was hit by a stray bullet. The walls of the prison were equally riddled with bullets.
The gunmen were said to have broken the wall leading to the inmates cells with grenades when their attempts to blow off the main entrance was unsuccessful.
All the inmates at the prison were said to have escaped with the gunmen. Speaking with journalists, the Prison Comptroller for the state command, Mr Tunde Olayiwola, described the attack as unusual, saying the authority would soon bring the culprits to book.
Olayiwola said the incident happened around 12: 05 a.m. just as he dispelled the rumour that the attack was masterminded by the Boko Haram sect.
He said: “We cannot specifically identify those behind the attack, but the attack is unusual. One of our officers was injured during the attack and he is in the hospital right now receiving treatment but I am assuring you that those behind the attack will brought to book.”
The comptroller said the attack was the first of its kind in the history of the prison, saying the prison had not experienced such an attack since its establishment.
However, unconfirmed report said some of the prisoners, who were set free by the assailants have already been arrested by security agents in the state.
It was gathered that some of the prisoners were picked by the security agents at some of the brothels within the capital city and neighbouring villages near the prison, where some of the prisoners were identified and arrested.
As at 8.30 a.m. when THISDAY visited the prison, the situation had been brought under control as men of various security agencies were moved into the facility to help restore order.
The state commissioner of police, Mr. Patrick Dukumor, was one of the early callers while some government functionaries led by the state Attorney General and Commissioner for Justice, Mr. Eyitayo Jegede (SAN), also visited the prison.
The Police Public Relations Officer (PPRO) for the state command, Mr. Wole Ogodo, said the command had contacted the prison authority, stressing that the information gathered on the incident was still sketchy.
Ogodo noted that the incident has nothing to do with terrorism and called on the people of the state to continue with their normal duty assuring them that the police would continue to protect lives and properties of the people of the state.
He said all the security agents within the state were working to track the criminals, adding that the hoodlums will be brought to book.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
As the deadline for the registration of Subscriber Identity Module (SIM) cards expired Sunday, there are indications that telecoms operators are not comfortable with the directive by the Nigerian Communications Commission (NCC) that they should deactivate unregistered SIM cards on their networks at the end of the registration exercise.
Based on the directive from NCC, which is the telecoms regulatory body, it is expected that all telecoms operators will begin the deactivation Monday, but it appears that the operators are not keen at commencing the deactivation of unregistered SIM cards immediately, for reasons which among others, include the economic implication for the networks.
Our checks revealed that with the registration ending Sunday, the NCC has refused to extend the deadline, despite letters it received from various subscriber associations calling for additional three months extension.
However, it was gathered that the networks might be unwilling to commence immediate deactivation of unregistered SIM cards in accordance with the NCC’s directive for fear of huge revenue losses arising from about 27 million subscribers, who failed to meet the registration deadline that will be taken off the networks.
Some of the operators that spoke with THISDAY did not express any sign of willingness to commence deactivation immediately. Director, Brands and Marketing at Etisalat, Mr. Enitan Denloye, told us that the company would have to meet and take a position on the matter.
At Globacom, a top management official who preferred to be anonymous, spoke in a similar vein.
However, MTN decided to keep mum over the matter, as its General Manager, Corporate Affairs, Mrs. Funmi Omogbenigun, declined to comment on the issue, via an email sent to her by THISDAY.
Director, Public Affairs at NCC, Mr. Tony Ojobo, told us in a telephone conversation that the commission had closed registration of SIM cards across networks Sunday and that its earlier directive to operators to commence deactivation of unregistered SIM cards remained unchanged.
“Where have the subscribers been and what have they been doing since March 2011 when NCC commenced SIM card registration in all the six geo-political zones of the country,” Ojobo queried.
It has been 27 months since NCC commenced SIM card registration across the country, but some subscribers have complained that they were yet to be duly registered even when they had initially registered their SIM cards.
Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, had on June 28, wrote the Executive Vice-Chairman of NCC, Dr. Eugene Juwah, asking for three months extension for SIM card registration, to enable every subscriber register their SIM cards.
Part of the letter, which was made available to THISDAY, read: “We write in respect of the SIM card registration exercise and the notice of instruction for mass disconnection of unregistered subscribers with effect from Sunday, 30th June 2013 to our members.
“We would like to draw your attention that although the SIM card registration has been ongoing for some time, subscribers have embraced the exercise more in the past few weeks leading to the 30th June, 2013 deadline.
“Also, in the light of the security situation in the country and the general logistic problem, it has been very difficult for the subscribers, registration agents and our members (operators) to meet the 30th June, 2013 deadline. We hereby request for a three-month extension of the SIM card registration exercise in order for its overall success.”
Similarly, the President of National Association of Telecoms Subscribers (NATCOMS), Mr. Deolu Ogunbanjo, had equally written NCC, asking for three months extension of the exercise.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
For Master Lucky Emmanuel, a visually impaired student of Ihuogbe Junior Secondary School Benin City, Edo State, the pithy saying that there is ability in disability, played itself out at the weekend as he beat others to emerge tops in the prestigious Kenneth Imansuangbon Essay Competition.
Emmanuel, who is among the 25 winners of the competition that covers two categories, initially won the first prize of N100, 000 with a network computer in the junior category. However, his feat, given his status as a visually impaired student, fetched him an additional N2 million, courtesy of Alhaji Bichi Yar’Adua, chairman, Parents/Teachers Association of Pace Setters College, Wuse, Abuja.
Besides, Miss Edobor Precious, a student of University Preparatory Secondary School, Benin City, won the first prize in the senior category for the third time running.
The annual essay completion was established five years ago by Imansuangbon, who is also the founder, Pace Setters’ Group of Schools, Abuja.
Speaking at the prize presentation, which took place at the Transcorp Hilton Hotel, Abuja weekend, Imansuangbon said the aim of setting up the competition was to discover talents in the rural areas that can make the country greater through essay writing.
He added that six winners emerged from the four designated centres namely, Benin City, Uromi and Ibillo all in Edo State and Abuja.
According to him, the essence of the competition is to encourage the Nigerian child to put in more commitment to his or her study, pointing out that “The Kenneth Imansuangbon National Essay Competition is an engrossing annual event that is continually aimed at discovering the inborn potential of youths as regards creative and persuasive writing skills with a view to enhancing self-realisation and good leadership ability.”
“This year's exercise, which marks the fifth edition in the series, like in time past, does not only open up whole new vistas for young minds to exhibit their writing ingenuity, but also seeks to produce literary icons such as Chinua Achebe, Flora Nwapa, Williams Shakespeare, Zainab Alkali, Cyprian Ekwensi and others for national and international recognition,” he added.
Imansuangbon explained that the 2013 essay competition was open to all students from JSS I to SSS III who are in schools all over the federation and has been categorised into two, the junior and senior categories. He noted that while students from JSSI to JSS III compete in the junior category, students in SSSI to SSS III compete in the senior category.
The title of this year’s competition, which was expanded from the initial two centres to four, is: ‘Politics, Peace and Unity.’ This year, the competition attracted 227 students, both from private and public schools while at the Uromi centre alone, a total of 160 students participated in the competition.
Also speaking at the event, Dr. Aina Emmanuel Olusegun, a Director with the FCT Department of Policy Regulation, described education as a veritable instrument for human development, adding that no society can move forward without education.
Urging the students to always see education as a vital tool for self-development and societal growth, he commended the visionary leadership of the management of Pace Setters’ College for making positive impact on the growth of education in Nigeria.
He therefore challenged the students of Pace Setters and winners of the essay competition to realise that the future of Nigeria belongs to them, warning that they must not waste the huge investments made by their parents in them just as he added that not every child had the kind of opportunity they have.
Earlier in his keynote address, Executive Vice-Chairman, Retail Banking, North, First Bank Plc, Alhaji Abdullahi Ibrahim, urged parents and guardians to always counsel their children and wards so that they would not fall into wrong habits, which they would regret in future.
According to him, the world is so competitive and more sophisticated that only those who are disciplined can cope.
“Always maintain a high standard. Do not mess around with your studies so that whatever degree you obtain, you will be able to defend it because good education remains the key to success,” Ibrahim said.
One of the highpoints of the ceremony was the presentation of prizes to winners of the essay competition.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
It is now almost a year since the federal government contracted and signed a-three year management contract with Canadian firm, Manitoba Hydro International (MHI) to refresh operations at the Transmission Company of Nigeria (TCN) in line with ongoing reforms in the country’s power sector, but THISDAY at the weekend, gathered that “all is still not well” at the TCN.
A top presidential source in Abuja, who gave incisive details on the rivalry of interests in the management of TCN operations, stated that there was an increasing groundswell of opposition to the management contract, which was threatening operations at the transmission company.
The source divulged details of various oppositions to the effective takeover of TCN by Manitoba, as well as the lingering debt profile of the transmission company in taxes and unpaid legitimate claims of its contractors, all of which was put at about $1 billion.
It was equally learnt that the seven-man supervisory board of TCN, which was inaugurated in March 2013 by the Minister of Power, Prof. Chinedu Nebo, may have compromised its responsibilities of providing effective direction and counsel to the management of TCN, following the swell of unwholesome “internal and external” pressures.
Manitoba was contracted for $23 million by the government through a competitive bidding process that was conducted by the Bureau of Public Enterprises (BPE) to run TCN for a period of three years. However, the contract which should have commenced in September 2012, remained dormant as a result opposition to it as Manitoba was denied a “schedule of delegated authority” for several months before Nebo eventually handed it over to them and also set up a supervisory board to oversee the work of the company.
The seven-man board is headed by a former chairman of the Revenue Mobilisation and Fiscal Allocation Commission (RMFAC), Hamman Tukur and it include, Mr. Akinsola Akinfemiwa, as its vice-chairman, CEO of TCN, Don Priestman, Director, Human Resources at BPE, Larai Shuaibu and a representative from the Ministry of Finance.
Other members of the board are Peter Ewesor, from the Ministry of Power and former Governor of Ebonyi State and Minister of Education, Sam Egwu, as an independent member.
“There is no point hiding the fact that the TCN is insolvent. The company owes more than $1 billion in debt of unpaid taxes and claims of its contractors who are unwilling to bid for any of its contracts anymore because they can’t get payments for jobs that they had satisfactorily executed.
"Right now, the company relatively needs about $1 billion annually to stay afloat but it got just about $160 million appropriated to it in the budget for this year; how can it amortise its debts and win back the confidence of local financial institutions to lend finance to its expansion plans?
"That is almost impossible now but I am aware that the president and Minister of Power and Finance have been on the situation; I must tell you also that the president has shown very good commitment to the situation of the transmission network,” the source stated.
Speaking further on opposition to Manitoba’s assumption of duties at TCN, the source said: “It has been effective opposition to the management contract and Manitoba is very careful not get involved in anything that could taint its corporate profile."
“Just imagine that the board is yet to sit for once, three months after it was inaugurated by the minister. From all indications, some members of the board have compromised on their responsibilities as a board and this happened just after some top Nigerian officials of TCN pressured them to disregard Manitoba and management contract on grounds that they can do better to reposition TCN.
These officials had made their opposition to the management contract known to some of the board members and since then, it has been a swelling of opposition to the contract, in fact, Manitoba does not have access to the bank accounts of TCN, they are not in charge of the bank accounts as well as the market funds which is still been administered by the ministry of power.”
Based on the contract which could be renewed for another two years at the discretion of the government, Manitoba is expected to revamp TCN to achieve technical and financial adequacy in addition to providing stable transmission of power without system failure.
Under Manitoba, TCN is expected to become a commercially viable and market-driven company capable of performing optimally and Manitoba is expected to work with existing in-house team to manage the daily operations of TCN which will include major functions such the contentious market operations (MO) and system operations (SO) amongst others.
Meanwhile, barring any last minutes hitches, the federal government will this week begin the payment of severance entitlements to the 43,400 verified workers of defunct state electricity utility, the Power Holding Company of Nigeria (PHCN).
PHCN was unbundled and 17 successor companies created out of it; 16 of these companies are slated for privatisation in the ongoing reform of Nigeria’s power sector, while one of the unbundled companies, the TCN had been placed under management contract by the government.
Minister of Power, Prof. Chinedu Nebo, confirmed to THISDAY in a telephone conversation Sunday in Abuja that plans to begin the payment of severance benefits of the workers had progressed and about 18,000 of the workers would be paid their benefits in the first tranche of payments beginning from
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
Notwithstanding last week’s call by some members of the House of Representatives for the implementation of the cashless policy in phases, the Central Bank of Nigeria (CBN) at weekend, maintained that the policy would be extended to the Federal Capital Territory (FCT) and five other states from Monday.
The states include Rivers, Kano, Anambra, Ogun and Abia.
This came as the bank at the weekend warned those travelling in and out of the country that it is mandatory for holders of cash or negotiable instruments in excess of $10,000 to always declare such amount of funds to the Nigeria Customs Service (NCS) at various airports.
Speaking in an exclusive interview with THISDAY in Lagos, the Deputy Governor (Operations), CBN, Mr. Tunde Lemo, expressed optimism that just like in Lagos State, the initiative, aimed at reducing the dominance of cash in the economy, would also be successful in these states.
The cashless policy was introduced in Lagos in January last year. It specifies charges for individuals and corporate organisations that want to withdraw or lodge cash above prescribed limits. Under the policy, the CBN pegged the daily cumulative cash withdrawal or deposit limit for individual accounts at N500,000 per day and N3 million per day for corporate accounts.
However, the House of Representatives had urged the apex bank to implement the cashless policy in phases.
The motion, promoted by 53 lawmakers, titled: “Need for CBN to Implement Cashless Policy in Phases,” sought to make the apex bank implement the policy in stages, moving from what they described as cash-based to cash-less and finally cashless.
But Lemo explained: “I have a lot of respect for members of the National Assembly, but I think we need to dialogue further for them to know that nothing is changing where we said we are introducing cashless. All of what we are saying is that because of the need to save money and to modernise our payment system, banks are now beginning to say that they will be charging heavy cash users and not allow the poor man to subsidise the expensive lifestyle of the rich man.
“If you look around the world, there is no country where people will go to the bank to collect the kind of money we collect in Nigeria and this cost a lot money. It cost money to process and move cash. In those days, what we did was to put all of that together as banking charges and everybody is bears the charges. But from July 1, in those other new states, we will raise the level of awareness and let them know that banks will no longer subsidise heavy cash users.
“If the lifestyle will continue, then they will have to bear the associated cost. Nothing is changing; it is not as if we are saying there won’t be cash in those areas, no! The choice is yours. If you still want to carry heavy amount of cash, you can, but bear in mind that the associated cost of carrying heavy amount of cash will be borne by you.”
Meanwhile, in a circular dated June 26 and addressed to all banks and Other Financial Institutions (OFIs), a copy of which was posted on its website, the apex bank all intending travellers to declare any cask in excess of $10,000.
The document signed by Y.B. Duniya on behalf of the acting Director, Financial Policy and Regulation Depart, CBN, said market information at the disposal of the l bank on the implementation and enforcement of section 2 of the Money Laundering (Prohibition) Act (MLPA), 2011 (as amended) had revealed some misinterpretation/misapplication of the provision to mean that carrying of funds/negotiable instruments to or from a foreign country in excess of $10,000 or its equivalent was prohibited.
It therefore stated that it was pertinent to provide guidance to banks and OFIs on the provision of the section.
It stressed that section 2(3) of the MLPA, 2011 (as amended) provides that transportation of cash or negotiable instruments in excess of $10,000 or its equivalent by individuals in or out of the country should be declared to the NCS, while section 2(5) provides that any person who falsely declares or fails to make a declaration to the NCS pursuant to section 12 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap. F34, LFN, 2004 is guilty of an offence and shall be liable on conviction to forfeit the undeclared funds or instruments or to imprisonment of not less than two year or to both.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
As the National Assembly fine tunes the process of passing the Pension Reform Bill, the National Pension Commission (PENCOM) has put the current Contributory Pension Scheme (CPS) at N3.3 trillion.
The commission has also forwarded a 21-point recommendation to a joint committee of the National Assembly where it submitted that the minimum paid up capital for Pension Fund Custodians (PFC) should be N25 billion.
It also added that applicants for PFC licence must be limited liability companies incorporated by financial institutions and its sole duty must be keeping custody of pension and retirement benefits and assets.
The commission, which also suggested that the minimum paid up capital might be subject to review from time to time by the commission, added that besides the financial institution having a minimum net worth of N25 billion, it must also possess annual fidelity insurance cover for the full value of the pension and retirement benefits funds and assets in its custody.
There may also be upward review of the minimum monthly pension contributions by employee from the current 15 per cent to 29 per cent as the commission and other stakeholders in the sector insisted that the current contribution of 15 per cent was no longer adequate to generate the retirement benefits in the land.
The acting Director General of the Commission, Mrs Chinaelo Anohu-Amazu, in a presentation at a public hearing on the Pension Reform Act last week, said the regulatory body on pension management would up the ante of its oversight function on the pension administrators with a view to sanitising the scheme.
Anohu-Amazu told the gathering that the commission had uncovered a number of ghost retirees in the data, leading to "endless verification of the pension records."
She disclosed that some highly placed pension administrators and other agents had been falsifying pension records in their deliberate attempts to loot the funds and frustrate the reform scheme.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
Bello cautions residents on flood plains, low line areas
As the month of July arrives, Lagos State residents have been urged to prepare for high intensity rainfall with wind and thunder storm.
This call was issued Sunday by the state Commissioner for Environment, Mr. Tunji Bello, in the wake of the reports from Nigeria Metrological Agency (NIMET), and the need to sensitise Lagosians as rainy season approaches.
Bello advised residents in the state not to panic whenever it rains as they would experience accumulated water concentration on some part of the roads and highways, depending on the intensity of the rains. “Lagosians are however assured that the accumulated water will recede in no time,” he said.
According to him, it had been raining since January and this has increased the water level of the soil, thereby making infiltration capacity to be very low across the state.
He further explained that concentration of water had led to the saturation of the soil, which would henceforth cause delayed discharge of rain water into the water bodies.
Bello, however, assured Lagosians that whatever flash flood recorded during the rains, it would gradually discharge in less than 24 hours, because of the effectiveness of the drainage channels in the state.
Residents along flood plains, low line areas and other coast lines, like Ajegunle, Owode-Onirin axis, Owode-Elelede, Kuramo beach, Alpha beach, Okun-mapo, Okun Ajah, Mende-Maryland, Ijora-Badia, Iwaya were urged to be extremely careful or possibly vacate their residence temporarily once they notice gradual accumulation of rising water and move to higher grounds “as the state is not ready to lose any life during the rainy period.”
“Lagos is a coastal state and as such, is susceptible to flash flood anytime there is rain of high intensity, however what is of utmost importance to this administration is to ensure that, whatever flash flood experienced is effectively discharged into our channels that have been dredged and cleaned, in anticipation of this year’s rain.
“Lagos residents are further encouraged to relate effectively with deployed Resident Engineers and Drainage Maintenance Officers, whose phone numbers was recently published in the print and electronic media to alert them whenever they have flooding challenges,” he said.
The commissioner also advised Lagosians to be safety conscious during this period, stating some safety measures as “Avoid going out during the rains expect only when it is compulsory. Be conscious when driving do not over speed and ensure that your vehicles are in good condition and do not drive through flooded areas as it might be difficult to identify its depth; but rather refrain from during through the flooded areas.”
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
The shareholders, in the Brass Liquefied Natural Gas (LNG) project in Brass Island of Bayelsa State, said they have resolved the funding structure challenges, thus attaining a major milestone in the efforts to sign the Final Investment Decision (FID) for the multi-billion dollar project.
Speaking at the weekend in Lagos, during a send forth party organised for the most senior representative of ConocoPhillips and General Manager in charge of Brass Facilities, Mr. Joao De Oliveira, the Chairman of the Board of Brass LNG, Dr. Jackson Gauis-Obaseki, said the resolution of the funding structure challenges was part of the decision reached at a recent meeting held by the shareholders in London.
He assured the retiring ConocoPhillips manager that the project would be delivered soonest.
“You have delivered on the Engineering Procurement Contract (EPC). The confidence reposed in you has been justified. I assure you that the project has reached a point of no return and must happen. The shareholders have agreed on major issues including the funding structure,” Gauis-Obaseki said.
Gauis-Obaseki said with the conclusion of the agreement on funding, the only immediate hurdle facing the Brass LNG project was the resolution of issues surrounding gas supply. He, however, stated that the shareholders had already known those that would supply gas for the project, adding that the only outstanding issue was for the shareholders to meet among themselves on the one hand and then with the federal government to provide the comfort that would be required.
“The shareholders have agreed on the structure for funding and what remains is the internal mechanics. We know today the contractors that will build the plant. That was not known before. We have only one hurdle and that is the finalisation of issues surrounding gas supply. But we know those that will supply the gas. And the gas is not imported; it is in Nigeria. What is left is for the shareholders and the suppliers to put their acts together and engage the government as required. No matter what happens, this project will be done,” Gauis-Obaseki added.
Gauis-Obaseki also assured De Oliveira that his efforts in delivering the EPC for the Brass LNG project would not be in vain.
Also speaking, the Group General Manager in charge of Liquefied Natural Gas (LNG) and Power at the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, said the local shareholders and the Brass LNG project had enjoyed immense technical benefits from ConocoPhillips, through De Oliveira’s style.
“We would love if you had taken this project through the FID but as destiny would have it, you decided to retire,” Baru said.
The Brass LNG project is designed to produce 10million metric tonnes of LNG per year. The NNPC holds 49 per cent equity in the project, while United States owned oil company, ConocoPhillips; French oil giant, Total and Italian company ENI hold 17 per cent stake apiece in the project.
However, the NNPC plans to divest 17 per cent of its stake in the project after the FID.
Of the 17 per cent to be divested, Bayelsa and Rivers State Governments are proposed to take five per cent each, while the remainder would go to NNPC’s strategic investors.
ConocoPhillips is also planning to divest its stake. With a pre-FID expenditure of about $1billion, a lot of early works have been completed on the site, demonstrating the faith of the shareholders in the project.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
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