Cheat Sheet Week 44 2008

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Monday 27 October 2008

Pirates hijack oil ship:

Gunmen in the Delta briefly seized the vessel Bourbon Ajax, contracted by Addax Petroleum on Saturday, taking 7 French and 10 Nigerians hostage.Related: A vessel, believed contracted by Total, was also attacked but managed to escape with only bullet holes to the hull. Another unidentified vessel came under attack by pirates robbing people from valuables.

Halliburton Scam – EFCC seeks clues from abroad:

The EFCC is seeking evidence abroad for the Halliburton bribe scandal revealed in 2003 in which some Nigerian government officials had collected $180 million bribe to ensure the company juicy LNG contracts

Nigeria halts 590,000 bpd on militant attacks:

Minister of Petroleum H. Odein Ajumogobia said in an interview that Nigeria has shut in 590,000 barrels of oil/day due to militant attacks while the Warri and Kaduna refineries are operating at “almost zero” capacity because of pipeline disruption.

And then there’s this…Ekiti shuts school over juju scare:

Nursery and Primary School A, Iworoko-Ekiti, in Irepodun/Ifelodun Local Government Area of the state Ekiti were closed indefinitely after a mob attack on a class teacher and the head teacher following the juju issue.

Tuesday 28 October 2008

Nigeria set to eat into savings as oil price drops:

Following the London Brent crude trade near $60 a barrel yesterday Nigeria may be forced to dip into its savings to meet this year’s budget commitments. Nigeria needs oil at or above $71 a barrel to maintain its current account surplus for 2008.

Gov lifts 1% limit on downward stock moves:

Nigeria’s stock exchange said today it had lifted a 1% maximum daily downward price limit on individual stocks, a move which should help restore liquidity to the market.

YRD canvasses African regional tax forum:

Monday at the first Int. Tax Conference in Abuja President YRD, represented by Nigeria’s Minister of Finance, Dr Shamsudeen Usman called for the setting up of an African regional tax forum, aiming at taxation becoming Nigeria’s primary source of government revenue.

Why we won’t hand over officials to EFCC – Rivers:

The Commissioner for Information, Mr. Ogbonna Nwuke, said following the subsisting court order, Rivers Government will not hand over the Commissioner for Finance and the Accountant General to the EFCC

Pfizer keen to settle drug trial lawsuits:

Pfizer Inc said on Monday it hoped to reach an out-of-court settlement with Nigeria over a 1996 drug trial that according to the government caused the death of 11 children and left dozens disabled

Fears Cameroon’s Crater Lake could burst dike:

Contrary to Cameroon government, Nigerian authorities have taking steps to prevent a possible humanitarian disaster ahead of the flooding that would result if a dike failed in a crater lake in neighbouring Cameroon following a new report issued by the UN Office for the Coordination of Humanitarian Affairs [OCHA] and the UN Environment Program [UNEP].

Nigeria might be sanctioned by FIFA:

FIFA may impose sanctions against Nigeria following the country’s unexpected withdrawal from hosting the Under-17 World Cup. Nigeria, by former President Obasanjo, committed itself to an international agreement and entered into guarantees with FIFA.

Juju scare: Ekiti gov chides opposition over propaganda:

The Governor of Ekiti State, Mr. Segun Oni, has warned members of the opposition parties in the state against undue propaganda over the juju issue and urged them to engage in constructive critisme.

Wednesday 29 October 2008

Chevron trial begins:

The Trial over the shootings in May 1998 on a barge at Chevron’s Parabe platform which left 2 protesters dead and several others wounded, started with plaintiff stating that it was a peacefull incident, the defendant claiming it was a hostile, illegal invasion that put workers’ lives at risk.

PENGASSAN strike grounds Chevron-Texaco management:

 Major management decisions of Chevron Texaco have suffered a setback following the strike by Petroleum and Natural Gas Senior Staff Association (PENGASSAN) accussing the company of divesting its 60% stake in Texaco, without resolving all pending labour issues.

Minister accuses foreign ships of violating cabotage law:

Minister of Water Transportation, Mr John Emeka, has accused some foreign vessels of operating within Nigerian waters of disregarding the country’s cabotage law without ministerial waivers.

Nigeria makes u turn on FIFA tournament:

President YRD has changed his mind and rescinded a decision NOT to host next year’s FIFA Under-17 Championship saying in a statement that government had approved nine billion naira for the championship. The
Etisalat plans free calls to win market: Etisalat Nigeria, who launched GSM services in seven cities last week, will offer subscribers free network-to-network calling for at least six months in order to win mobile subscribers.

FG introduces taxes on GSM recharge cards:

FG has introduced taxes for recharge cards issued by GSM operators in the country. Taxes are also to be imposed on other consumables as noodles, soaps and detergents as well as toiletries.

FG to conduct census of Nigerians in US:

The Nigeria Consulate in New York by Mr Ibrahim Auwalu has concluded plans to register Nigerian residents across 20 states including North East and Mid West of the US

US Embassy Begins New Appointment Process:

 United States Embassy in Nigeria will commence a new visa appointment system today, a development that will phase out the previous system of visa appointment.

Thursday 30 October 2008

Yar’Adua sacks 20 Ministers:

President Yar’Adua finally issued the list of cabinet ministers to be dropped. Twenty of them are to go.

Shell’s power plant begins operation:

Shell said yesterday that the Afam gas/power plant has began operations earlier this month stating that the Okoloma gas plant in Rivers state started supplying gas on October 11 and commissioning for the second turbine of the Afam VI power plant is expected early November.

125,000 bpd oil refinery to restart November:

 Next month Warri’s refinery is expected to restart production next when the repair of a ruptured feeder pipeline is due to be completed. The Kaduna plant will remain shut for routine maintenance starting next week and run through to February.

Court adjourns $45 billion tobacco lawsuit to January:

Yesterday a court adjourned a 5.3 trillion naira lawsuit brought by the government against three tobacco firms until January so the prosecution can serve court papers on one of the defendants.

Ribadu sues FG & Police over demotion:

 Nuhu Ribadu, former EFCC Chairman, has sued the Federal Government and the Police Inspector General (IG), Mike Okiro, over his demotion and deployment.

 

Friday 31 October 2008

Nitel asks foreign firms to fix key cable:

Nitel, the formerly stateowned telecoms firm, said on Thursday it had invited two foreign companies to help fix its damaged main gateway for international calls and Internet connections.

President seeks stable 2009 spending:

President YRD wants to keep government spending next year unchanged, despite falling oil prices and stagnating oil production. . Analysts had expected the government to rein in spending after a more than 50% drop in oil prices in the last four months. To fund next year’s spending, Nigeria is expected to significantly increase foreign borrowing to plug the gaps left from falling oil revenues.

Nigeria cuts oil exports:

Nigeria is reducing its crude oil export volume by 5% in line with new quotas announced by OPEC.

President sacks half the cabinet:

After YRD had sacked 20 ministers a presidential aide said the new list of ministers had already been prepared but must be approved by the senate.

Multi-billion-dollar Chinese rail project suspended:

Nigeria has suspended the in 2006 awardedl 8.3 billion-dollar contract to the Chinese firm CCECC to upgrade its decrepit railway system so government can carry out a comprehensive review.

$424 million raised in 3-year, 10-year bonds:

Nigeria raised 50 billion naira in reissued 3-year and 10-year sovereign bonds at its 10th auction this year, the Debt Management Office (DMO) said on Thursday.

 

This Chief’s Briefs Cheat Sheet was compiled for your review by OOL Member:homealonemum
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