FG to compel IOCs to cut high oil production cost.

THE Federal Government is set to compel International Oil Companies (IOCs) to cut the cost of producing oil in Nigeria.

Minister of State for Petroleum Resources, Dr. Emmanuel Kachikwu, who confirmed the plan said at the present low price of crude oil, it makes economic sense to cut cost.

Consequently, he stated that the cost, which the National Petroleum Policy put at $28.99 per barrel, would be reviewed downward with the IOCs in order to arrive at an acceptable cost. 

He stated: “The nation needs to review the current high cost of producing oil. It does not make sense to produce oil at such high cost, especially now that crude oil price has dropped from over $100 to $50 per barrel. “It will not make sense to produce at high cost anymore. 

We will sit with the IOCs to look at the cost elements in order to take a better decision. It is in the best interest of everyone to bring down the high cost of producing oil in Nigeria.” The National Petroleum Policy, gave a breakdown of the current production cost as follows: $8.81, $13.19, $4.11 and $2.95 as production costs, capital spending, gross taxes and admin/transport per barrel respectively. 

The policy which identified Nigeria as one of the most expensive oil provinces in the world, added that oil price has been very unstable in recent times.

 Kachikwu said further:  “There has also been extreme volatility of oil and gas prices since around 2005, at levels not seen since the 1860s. Prices went down dramatically as US shale production took off. “Two clear messages for Nigeria are that it has to broaden the economy towards a gas based industrial economy; and within the oil sector, Nigeria has to move downstream into the value added sectors of refining and petrochemicals.”

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Naira appreciates in NAFEX, parallel market.

The naira yesterday appreciated significantly in the parallel market and in the Investors and Exporters (I&W) window. At the close of business yesterday, the naira appreciated by N2 in the parallel market while it appreciated by N1.29 at the I&E window.

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window dropped yesterday to N366.59 per dollar from N367.88 per dollar on Monday. 

Also the parallel market exchange rate dropped to N363 per dollar yesterday from N365 per dollar on Monday. Vanguard investigation revealed that the naira appreciation in the parallel market is driven by low demand for dollars amidst sustained dollar supply to bureau de change subsector by the Central Bank of Nigeria (CBN).

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FIFA names refs for Nigeria/Cameroon clash.

World football –ruling body, FIFA, has released appointments of officials for the Matchdays 3 and 4 of the 2018 FIFA World Cup qualifying race (Africa series), with Egyptian top official Gehad Grisha and respected Gambian Papa Gassama to take charge of the two potentially –explosive encounters between Nigeria’s Super Eagles and the Indomitable Lions of Cameroon.

Grisha, full name Gehad Zaghloul Ibrahim Selim Grisha, has been designated to be at the centre for the big clash between the reigning African champions and the three –time African champions in Uyo on Friday, 1st September 2017, to be assisted by Redouane Achik (Moroccan, Assistant Referee 1), Waleed Ahmed Ali (Sudanese, Assistant Referee 2) and Mahmoud Zakaria Mohamed (Egyptian, Fourth Official). Former FIFA referee Felix Onias Tangawarima from Zimbabwe has been assigned as Referee Assessor, with Congolese Jean Médard Kossa as Match Commissioner.

 The match will start at 5pm Nigeria time at the Godswill Akpabio Stadium. For the return leg scheduled for the Stade Omnisports, Yaounde on Monday, 4th September 2017, Papa Bakary Gassama will be at the centre, to be assisted by Jean Claude Birumushahu (Burundian, Assistant Referee 1), Aden Marwa Range (Kenyan, Assistant Referee 2) and Maudo Jallo (Gambian, Fourth Official). Jerome Kelvyn Damon, a former FIFA referee from South Africa, will be Referee Assessor, while Sudanese Osama Ataaelmanan Hassan will be Match Commissioner. The match starts at 6pm Cameroon time.

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My wife, other relatives will kill me if we don’t qualify for world cup- Mikel

John Obi Mikel is nothing if not optimistic when it comes to Nigeria’s hopes of qualifying for the 2018 FIFA World Cup Russia™. Although Africa’s third round of qualifying only reaches its halfway point at the end of this month and beginning of September, the Super Eagles captain believes a place at the global finals is within their grasp.

Group B, in which Nigeria are already four points clear of second-placed Cameroon and five ahead of Zambia and Algeria, certainly makes for pleasant reading. And though four tough games have still to be negotiated, Mikel is upbeat about their prospects of topping the table and claiming the section’s sole spot at Russia 2018.

“We are in a very good position in our group,” the 30-year-old Tianjin Teda midfielder told FIFA.com. “We have two wins from two games, and in our last game we beat Algeria at home. We have a very good young team and the players play good football. If we can win our next match (at home to Cameroon on 31 August) it will edge us closer to qualification.

 I think we can go through.” For the former Chelsea star, the pressure to make it to Russia is immense. And as he explained, that is not simply due to the expectations of supporters in his football-mad homeland. “My wife is Russian,” he said, “and many of our relatives and friends are from Russia. 

They are all expecting Nigeria to qualify for the next World Cup. I think they will kill me if I fail them,” he added, laughing. Crunch ties For all his confidence, Mikel is under no illusions that the remainder of Nigeria’s campaign will be easy. Looming large, after all, are back-to-back meetings with reigning African champions Cameroon, who have drawn both their matches thus far. 

The Super Eagles captain knows that these meetings on 31 August and 4 September will go a long way towards deciding the group’s outcome. “As everyone knows, they are a very good team,” he said of Cameroon. “They are strong and they play with confidence. 

We must get ourselves well prepared for this game and try our best to get on top against them. It won’t be easy but these are important matches. If we win both, we will be almost there.” As might be expected given his role as captain, Mikel has figured prominently in Nigeria’s qualifying campaign thus far. Notably, he scored one and set up for another in their most recent triumph: a 3-1 win over Algeria in November. 

However, injury has kept him sidelined over recent months, causing concern for supporters of both club and country. Mikel, though, has vowed to do everything within his power to be fit for this vital upcoming double-header. “I had maintained good form until this injury,” he said. “So it was a shame. But this is part of the game and now I am focusing on recovery and on coming back stronger. I will do whatever I can to get fit to play for Teda and my national team. “This Nigeria team look up to me for advice. My team-mates miss me and they need me. As the captain, I want to fulfil my role and help them with my experience.” 

A distinguished career Mikel certainly has pedigree that few of his African peers can match. He broke on to the scene at the 2005 FIFA U-20 World Cup, when he helped Nigeria march all the way to the final, where they were edged out by a Lionel Messi-inspired Argentina. In the senior ranks, he helped Nigeria to the 2013 African Cup of Nations title and, more recently, starred for the Super Eagles at Brazil 2014, where they reached the second round for the first time since 1998.

At club level, he won just about everything on offer during a glittering 11-year spell with Chelsea, departing Stamford Bridge having claimed a UEFA Champions League title, two English Premier League crowns and four FA Cups. Such achievements, however, merely serve to whet his appetite for more. “I am glad with what I have done,” he said. “But at the same time, I am not satisfied. I want to achieve more, so I must push harder. The next World Cup in Russia will be a fresh chance for us but, first, we have to make it there. Then the next challenge will be to make sure we enjoy an even better tournament in Russia than we did in Brazil.”

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Nigeria World Cup hope for ailing Ikeme

Nigeria coach Gernot Rohr is hopeful goalkeeper Carl Ikeme, who has been diagnosed with acute leukaemia, will return for next year’s World Cup in Russia.

“It’s unfortunate that Carl Ikeme will be sick for a long time, we miss him, but hopefully he will come back for the World Cup,” Rohr said on Wednesday.


“So, for the moment we will work with the other goalkeepers.” The Wolverhampton Wanderers number one, who made his debut against Tanzania in 2015, played a key role in Nigeria’s 2-1 opening World Cup qualifier victory against Zambia in October last year.

 But in June the 31-year-old was diagnosed with acute leukaemia and immediately began treatment. Rohr said former national goalkeeper Vincent Enyeama will quit Lille when he has fully recovered from a knee injury.

 Enyeama was Ikeme’s predecessor in the Super Eagles before he quit international football two years ago after a major falling out. “He has to change clubs because his club has bought two new goalkeepers. It’s finished for him at Lille,” the Nigeria coach said. “Unfortunately, he is injured, he has had operation for cruciate ligament, he will be out for another two, three months before he comes back to play.”

 The Franco-German coach further said he will be happy to have the experienced Enyeama back in the Eagles. “If he is fit again, the door (to my team) is open for him,” he said. “We are in touch, we need the best players and the goalkeeper position is an important position,” he added.

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Morata put off Tottenham because he feared Kane competition – Pochettino

Kane and Morata Morata, 24, joined champions Chelsea from Real Madrid last month for a reported fee of £58 million ($76.8 million, 64.7 million euros).

Pochettino spoke to Morata about a move to Spurs two years ago and said the Spain international was deterred by the presence of the prolific Kane at White Hart Lane. “Morata talked about myself, in the media he said: ‘Mauricio called me.’ That was two years ago or more,” Pochettino said, in comments published by several British newspapers on Wednesday. 

“He said to me: ‘Why do you want me if you have Harry Kane?'” Unlike their Premier League title rivals, Spurs are yet to make a significant close-season signing and the new campaign is just over a week away. 

Spurs have mounted stirring title challenges in both of the past two campaigns and Pochettino said the strength of his first XI was deterring potential new recruits. “You know, if you go to try to sign a striker, they will say: ‘Eh gaffer, you want me for what? To be on the bench?’ I can’t compete with Harry Kane or Hugo Lloris or different players,'” he said. “It’s so difficult to convince good players to come and then be on the bench. Then the problems start.”

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Neymar tells Barca teammates ‘he is leaving

Neymar’s potential world record move to Paris Saint-Germain moved a step closer on Wednesday as the Brazilian informed his Barcelona teammates he is leaving the club, a Barca spokesperson told AFP.

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Tonto Dikeh’s estranged hubby signs singer, Praiz

DESPITE the crisis rocking   his marriage, Tonto Dikeh’s estranged hubby, Olakunle Churchill, shocked many critics, Tuesday, when he unveiled popular singer, Praiz Adejo, as one of his foundation, Big Church Foundation, ambassadors for the 2017 project year.The signing of the deal was done at the Ikoyi, Lagos boardroom of the foundation.

At the unveiling board conference was the current Ambassador for Women and Child, actress Rosaline Meurer, who has been at the centre of Tonto Dikeh’s marital mess, the Foundation Executive Manager of Abuja branch, Tomiwa Yebo, Foundation coordinator/ PR, Mr. Raphael Cudjoe, Head of IT, Clay-Multi Media Department, Maureen Cyril of GoodGirl Foundation, Ivy Cypriel of Crown and Glamour TV among  others.

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Rosaline Meurer, Funke Akindele, others for Humanitarian Celebrity 2017 award.

NOLLYWOOD actress, Rosaline Meurer who was alleged to have wrecked Tonto Dikeh’s marriage to her former hubby, Oladunni Churchill, is in high spirit at the moment.

The model-turned actress has been nominated for the Humanitarian Celebrity of the Year Award. She was nominated alongside other notable actresses including Funke Akindele-Bello, Toyin Abraham, Chika Ike, Mr. Jollof, Rosaline Meurer and Beverly Osu.

Meurer took to her Instagram page, yesterday, to break the good news, saying “a nomination is a recognition. I am humbled to be identified, let’s join hands to make it a reality! Keep reaching out, keep touching lives and be consistent with the work of charity.”

The award, organized by LA Mode Magazine Initiative will hold on October 1, at  Oriental Hotel, Victoria Island, Lagos. A brand Ambassador, Big Church Foundation, owned by Tonto Dikeh’s ex-hubby is also committed to charity works and has been doing a lot to give back to the society.

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Sympathisers throng Faleti’s home, as more eulogise pour in.

SCORES of sympathisers, yesterday, thronged the home of the late renowned author, poet, broadcaster and actor, Pa Adebayo Faleti, who died on Sunday

Women, who besieged Faleti’s premises located  at Olororo area of Ojoo, Ibadan, Oyo State, wept uncontrollably, while men were seen in groups discussing his sudden demise.

Meanwhile, a family source disclosed that a meeting will soon hold to plan a befitting burial for the late actor.

This came as notable Nigerians, especially from the South-West paid tributes to the late veteran broadcaster and actor, saying his death was as a huge loss to the country’s creative sector.

The veteran poet, who translated the National Anthem into Yoruba, died in his residence on Sunday.

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Young Nigerians push for removal of political age limits.

Hundreds of young Nigerians marched on the country’s parliament on Tuesday, calling for lawmakers to remove age barriers on political posts, including the presidency. Nigeria’s 1999 constitution stipulates that the president has to be at least 40, while senators and state governors have to be aged 35 or above.

Young Nigerians march to protest against age barriers on political posts in Abuja, on July 25, 2017. Hundreds of young Nigerians marched towards the country’s parliament on Tuesday, calling for lawmakers to remove age barriers on political posts, including the presidency. Nigeria’s 1999 constitution stipulates that the president has to be at least 40, while senators and state governors have to be aged 35 or above

But with an increasingly young demographic in Africa’s most populous nation and a majority of voters (55.4 percent) in the 18-35 age group, the restriction is seen as unfair.

About 500 protesters, wearing white T-shirts and brandishing placards proclaiming “#NotTooYoungToRun”, marched two kilometres (1.5 miles) to the National Assembly.

A sit-in was planned outside the parliament building until lawmakers vote on a constitutional amendment to lower the age.

Protest leader Samson Itodo said they needed a two-thirds majority in the 109-seat senate and the 360-seat House of Representatives to vote in their favour.

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N-Delta talks: Name FG’s team before August 1 — Clark

UGHELLI— CONVENER of the Pan Niger Delta Forum, PANDEF and Ijaw national leader, Chief Edwin Clark, has asked President Muhammadu Buhari to, as a matter of urgency, constitute a team to engage in talks with stakeholders in the Niger Delta before August 1, adding that youths of the region were becoming impatient over the delay in the talks.

This came as Niger Delta activist, Ann-Kio Briggs said that there was no ongoing talks between the Federal Government and any representative of the region. Speaking to Vanguard yesterday, Chief Clark who expressed fears that youths from the region were fast losing confidence in them (elders), disclosed that he has been receiving series of telephone calls over the delay in talks with the Federal Government,  adding that since the November 1, 2016 meeting, PANDEF has not met with the Federal Government. 

Frowning at the pace of activities at the Maritime University, Okerekoko, Delta State, which is supposed to commence academic activities this year according to acting President Yemi Osinbajo, Clark said: “They said the school will resume this year, July is almost ending, when will the staff be employed, what is the situation? “So, between now and August 1,  we are asking Mr. President to name a team and we will  name our team because the boys are impatient and they have been disturbing me with telephone messages and some of them have even issued  notices to disown us.

“We cannot be in a situation where the Federal Government is not listening to us, our boys will soon lose confidence in us and we cannot carry on with that situation. So we are asking the acting president to open discussion with us.” On her part, asked if the attacks on security operatives in the region are connected to the delayed talks, Ann-Kio Briggs said: “There are no delayed talks as there are no talks going on. “What attacks can affect peace talks? The only war in the region is the war of environmental genocide, neglect and the war of political, economic and developmental injustice of over 50years that the Nigeria government, IOCs and the non Niger Delta oil well owners have waged against our people, land, and rights.”

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BREAKING: President Buhari meets with APC governors and leaders in London.

President Muhammadu Buhari on Sunday, July 23, met with some All Progressives Congress (APC) governors and leaders in London - The delegation included the APC party chairman, John Oyegun; governors of Imo, Kaduna, Kogi, Nasarawa and minister of transportation, Rotimi Amaechi - President Buhari described the negative reports about him as lies President Muhammadu Buhari on Sunday, July 23, received a delegation of All Progressive Congress (APC) governors at the Abuja House, in London. NAIJ.com gathered that the Imo state governor, Rochas Okorocha, said the president was very cheerful and has not lost any bit of his sense of humour. In a telephone conversation with Femi Adesina, the president's media adviser, following the meeting of the APC governors and leaders with President Buhari, he said the president was delighted to receive the delegation and asked each governor about affairs in his state. Read 

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