Nigerian crude not abandoned commodity – NNPC

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has stated Nigerian crude oil is not an abandoned commodity. Addressing newsmen after declaring open the 2016/2017 bid for crude oil grades, Baru said the nation’s crude is not struggling or stranded but remains a hot cake in the oil market.

“Nigerian crude has continued to earn premiums and it is hot cake all over for refiners because of the light nature of the crude.

“It induces very high yields on the valuable products that you produce from crude oil. Nigerian crude oil continues to maintain market.

“In fact, contrary to a lot of speculation that a lot of Nigerian crude goes to China, they do not.

“Most of them are consumed and refined in India and Europe, particularly this year and last year; most of Nigerian crude end up in European refineries.’’

He also dismissed as false, the report that the corporation operated a separate crude account.

Okechukwu Enelamah Minister for industry denies helping MTN, in alleged money transfer

Nigeria's minister for industry, trade and investment dismissed accusations on Thursday that he was involved in an alleged illegal transfer of $13.92 billion by South African telecoms giant MTN.

A parliamentary motion named Okechukwu Enelamah earlier this week, saying MTN had used him and others to move the money out of Nigeria between 2006 and 2016.

MTN denied the allegations on Wednesday and Enelamah's office issued a statement a day later saying the accusations were "without merit and baseless".

"At no time was Dr. Enelamah in a position to transfer funds out of Nigeria on behalf of MTN Nigeria, and at no time did Dr. Enelamah transfer any funds out of Nigeria on behalf of MTN Nigeria," the statement added.

Buhari should have declared emergency on economy within first 100 days – Soludo

Charles Soludo, former Governor Central Bank of Nigeria, has reacted to the planned sale of national assets by the federal government. Soludo, in an article titled ‘Nigeria: Sale of assets as dangerous policy myopia?‘, said the suggestion to urgently review legislations that impede the economy and enact new ones was commendable.

The former CBN boss said “The National Assembly and the Presidency should declare an emergency on these legislations and ensure that they deliver on them over the next 100 days for the sake of Nigeria.

“I expected this to have been done within the first 100 days of this administration.

“I am not in the habit of joining issues except when  I consider the matter critical.

“Specifically, I am troubled by the proposal to sell some valuable national assets in order to ‘build reserves and provide funds for immediate spending’ and thus ensure that this recession will be the ‘shortest’ ever.

“Some people had bandied the same suggestion in the past but I largely dismissed it as a joke.

“But when the Senate and NEC joined the convenient but flawed call for asset sale, I have a citizen duty to join others in letting our voice be heard.

“Part of the legacy of the oil resource curse on matters of public finance is a mindset that resorts to easy, albeit lazy approach to ‘quick fixes’ – with a gaze on the short term even when the issues are structurally long-term.”

FG Urged to Concession Major Highways, Railroads

As part of efforts to boost revenue, the federal government has been advised to concession major highways and railway lines in the country to both local and foreign private sector investors.

Analysts at FSDH Merchant Bank Limited gave the advice in their latest monthly economic report.

They also stressed the need for the federal government to involve the private sector to develop the transport network, saying that such partnership would help create jobs and also attract foreign capital into the sector and other related manufacturing sectors of the economy.

“We believe the above measures with the revolution going on in the agro-allied processing activities, and with partnering with the private sector to improve infrastructure, Nigeria will be out of the recession faster than expected,” the report added.

BlackBerry-xit: Why Whatsapp may lose many Nigerian subscribers

IT is no longer news that Whatsapp, the world’s most popular messaging application will not be available on the BlackBerry platform come 2017. What might be news however, especially to the Facebook owned company, is that many Nigerian BlackBerry faithful say they will choose the Canadian mobile brand over Whatsapp.

Although BlackBerry might have lost face all over the world, it is still a dearly beloved brand in the world’s most populous black nation for a variety of reasons. The easy-to-use physical keyboard associated with many of the older blackberry models is one of them. Although Android and Apple devices have relegated the physical QWERTY to the middle ages, it is still a feature loved by many Nigerians.

 Another point to note is the price factor. As a result of the BlackBerry boom in Nigeria few years ago, the country’s major networks designed special services for subscribers who used the brand.   The average customers internet needs can be met with a one-off payment of N1000 a month. This feature, unavailable on other platforms makes the use of data more expensive on other Smartphones. 

Facebook Founder Zuckerberg's Surprise Visit to Nigeria

Founder, Mark Zuckerberg, yesterday, arrived Nigeria unannounced. The 32-year-old tech enterpreneur surprisingly made a sudden visit and inspection of activities at the Co-Creation Hub, Yaba Lagos... His arrival to Nigeria is not unconnected to the 'Facebook for developers' workshop' for Nigerian engineers, product managers and partners holding today in Lagos.

The event is expected to help the engineers build better applications and monetise them more effectively.

Before his arrival, it was earlier announced that the company's Director of Global product Partnerships, Nigeria's Ime Archibong was to lead speakers to the event where Facebook would unveil a ten-year roadmap that can help improve Nigeria's economy

Facebook is an online social networking service based in Menlo Park, California, United States, which Zuckerberg and his fellow Harvard College students and roommates, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes formed on February 4, 2004.

India's economy grew 7.1% in April-June quarter: ministry

India's economic growth slowed sharply in the first quarter of the 2016-17 financial year, missing expectations, official data released Wednesday showed.

Gross domestic product expanded 7.1 percent year-on-year in the three months from April-June, down from the stellar growth of 7.9 percent in the preceding quarter, according to the statistics ministry.

The numbers also fell short of economists' expectations, with most predicting a slight slowdown in GDP growth to around 7.6 percent for the quarter.

However, India retained its place as the world's fastest-growing major economy, with growth having outpaced Asian rival China for more than a year.

Tanzanian designer Mustafa Hassanali set to headline AFWL 2016

Tanzanian Minister, doctor turned designer Mustafa Hassanali is the headline designer for Africa Fashion Week London 2016.

The Tanzanian designer who is a known creative for avant-garde and couture designs infuses Pan African /cultural themes into his designs. Hassanali a doctor took up designing as a hobby in 1999.

The designer has showcased in 31 cities across 21 countries representing Tanzania as Fashion and Cultural ambassador.Hassanali who is a revered fashion lover was also appointed by the Minister for Information, Youth, Culture and Sports in Tanzania.

The Tanzanian makes his first debut at the fashion event he's set to headline.

About Mustafa Hassanali

Pan African Designer Mustafa Hassanali is a celebrated name in Tanzania who pursues fashion as a religion. His personable and affable demeanor in parallel with his bohemian work of art has made him amidst the premier and popular designers in Tanzania and beyond.

President Buhari Orders NNPC to Find Oil in Northern Nigeria

The Nigerian National Petroleum Corporation has been ordered by the president to intensify efforts to find oil in the north.

President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation (NNPC) to intensify oil search in the north-east of Nigeria.

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru disclosed that the corporation will be escalating exploration activities in the Chad Basin and around Komani River in Bauchi State.

Baru revealed this in Abuja yesterday when he received the Governor of Bauchi State, Barrister Mohammed Abubakar, said NNPC would be working to improve on the findings of oil giant Shell in the area.

While soliciting the support of the state governor to secure pipelines in the state, he assured him that NNPC would work hard to ensure that it meets obligations to the Federation Accounts Allocation Committee on time.

Verizon buys Yahoo for $4.8 billion after long sale process

Verizon announced on Monday morning it will buy Yahoo for $4.83 billion in cash. It is the end of a closely scrutinized, six-month sale process.

Yahoo first put itself up for sale in February and it fielded multiple bids from many different types of buyers — supposedly as many as 40 at one point. Those included AT&T; Quicken Loans founder Dan Gilbert with financial backing from Berkshire Hathaway CEO Warren Buffett; and private equity firms TPG and Vector Capital Management.

According to Re/code, Yahoo informed the other bidders on Saturday that Verizon had won the process.

“Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL,” said Yahoo CEO Marissa Mayer in a press release. “The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo. This transaction also sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social.”

Buhari has authorized discussions with Niger Delta militants – Kachikwu

Minister of State for Petroleum, Ibe Kachikwu on Monday disclosed that President Muhammadu Buhari has authorized the opening of discussions with the Niger Delta militants.

Speaking in China on Monday, Kachikwu told Bloomberg that due to the dialogue with the militants, the country is bringing to experience good fortune in the area of oil production.

The Minister explained that Nigeria’s daily oil production which surged back to 1.9 million barrels after dipping to about 1.4 million per day between May and June will reach a high of 2.2 million barrels per day by July after the Forcados terminal must have been repaired.

Award winning actress dons Washington Roberts for Harper's Bazaar feature

Danai Gurira makes the ultimate muse in a look by Nigerian womenswear brand Washington Roberts for a feature inHarper's Bazaar latest issue

The award winning actress chose the 'Annulus Dress' off the 'Kintinkantan' 2016 Collection presented at the 2015 Heineken Lagos Fashion and Design Week.

The Zimbabwean American actress and playwright, best known for her role as Michonne on 'The Walking Dead' and the 'Tony' nominated 'Eclipsed' play alongside Lupita Nyong'o showed off her flawless dark skin in the look.

Senator reacts to Silverbird Galleria shut down

Senator Ben Murray-Bruce has reacted to reports that theSilverbird Galleria has been shut down due to an N11b debt.

The Asset Management Corporation Of Nigeria (AMCON) got a court order from Federal High Court in Lagos, to take over the common sense Senator’s property.

Murray-Bruce in a swift reaction as the news broke, posted a tweet saying “I have been on an international flight and have only just landed. The situation is being resolved and things will be back to normal.”

25 hidden iPhone features that are really, truly hidden

How many times have you seen posts on tech sites about “hidden iPhone features”and thought to yourself, these tricks aren’t really hidden at all.

Each of the tips that follow below, however, are completely hidden. There is no indication that these functions exist in iOS, and we guarantee that most users don’t know about them. In fact, we also guarantee that even the savviest iPhone owners among you will find at least one or two things you didn’t already know. In fact, ran this list past a friend who works at Apple and there were a few things that even he didn’t know.

Senator Ben Bruce's Multi-billion Naira Properties Seized by AMCON in Abuja, Lagos & PH

Outspoken Popular Senator, Ben Murray-Bruce has fallen in trouble with the Asset Management Corporation of Nigeria as his businesses empire across the country has been reportedly seized.

The Asset Management Corporation of Nigeria (AMCON) on Thursday morning, took over the assets of three companies belonging to outspoken Bayelsa State Senator, Ben Murray-Bruce.

Gunmen kidnap 7, including Australians

There was some initial confusion over the number of victims and nationalities of those involved, as police in Nigeria gave conflicting accounts.

Gunmen in southern Nigeria have killed a local driver and kidnapped as many as seven people, at least three of whom are Australian citizens and one an Australian resident, Australian Prime Minister Malcolm Turn-bull said on Thursday.

There was some initial confusion over the number of victims and nationalities of those involved, as police in Nigeria gave conflicting accounts.

Drinking Coffee Could Save You From a Host of Deadly Diseases

Drinking coffee protects the liver against a number of diseases, a major report has concluded.

Until recently, experts warned against having more than a few cups of coffee a day for fear it might cause cancer, but its medical rehabilitation is well under way.

Last week the World Health Organisation withdrew its previous warnings on the link between coffee and bladder cancer, and instead said the drink could, in fact, help protect against certain cancers that affect the womb and liver.

Nigeria can’t say amount of crude oil it produces – NEITI

The Nigeria Extractive Industries Transparency Initiative, NEITI, has stated that the country is not sure of the quantity of crude oil it produces, but can only state the amount of the commodity it exports.

This was disclosed on Wednesday by the Executive Secretary of the agency, Waziri Adio while making a presentation on the NEITI 2013 audit report at the Senate chamber.

He explained that the lack of accurate information on the actual quantity of crude oil Nigeria produces was compounded by the absence of a proper metering system.

“I want to see more people get access to electricity”

Babatunde Fasholahas said that he wants to see sustainable, reliable electricity in Nigeria before he dies.

Fashola also said that Nigeria is a country of promise despite its many challenges.

“I’m a thinking person and I’m always looking for solutions to solutions. When I’ve found one solution, I’m not always convinced that it’s the best solution, so even when I’m implementing it, I’m looking for ways to make it better,” he said on Monday, June 13, 2016, during an interview with Channels Television.

“Generally, the promise of this country keeps me awake. I know that it is a country of so much promise; I want to see some of those promises before I die. I want to see sustainable, reliable electricity; I want to see more people get access to electricity.

Fire guts popular Mararaba market in Nasarawa

Goods reportedly worth millions of Naira were on Tuesday lost to a late night inferno that gutted the popular Mararaba market in Nasarawa State.

Goods reportedly worth millions of Naira were on Tuesday lost to a late night inferno that gutted the popular Mararaba market in Nasarawa State.

Although, the cause of the fire is yet to be determined, the outbreak started at about 8pm.