Author: Saint Augustine

Former President of Nigeria, Olusegun Obasanjo has said that he regretted his inability to privatize the Nigerian National Petroleum Corporation (NNPC) alongside other government concerns that were privatized under his administration. Obasanjo who made this position known at the opening ceremony of a two-day maritime stakeholders’ conference, with the theme,” Building a Sustainable Maritime I9ndustry in Nigeria”, organized by the Federal Ministry of Transportation in Lagos on Monday stated that if he had known that the corporation would be badly managed and breed corruption as it was doing today, he would have privatized it. He observed that the Nigerian Liquefied…

Worried by the increasing proliferation and engagement of prohibited firearms that threatens security in parts of the country, and as part of initiatives aimed at ensuring adequate protection of lives and property of the citizens, the Inspector-General of Police, (IGP) Solomon Arase has directed all Commissioners of Police in State Commands and the Federal Capital Territory (FCT) to activate mechanism for the mop-up of prohibited firearms within their areas of responsibility. In a statement issued by the Force Public Relations Officer (FPRO), Force headquarters, Abuja, ACP Olabisi Kolawole, Arase listed the prohibited firearms under the Firearms Act to include; Artillery,…

London think-tank, Chatham House, has reported Nigeria’s economy may be heading for harder times, as it loses over N5.724 trillion annually to oil theft, fraud and piracy in the country’s oil industry. Quoting the report, the United States’ Deputy Ambassador to the United Nations, UN, Ms. Michele Sison, put the overall damages incurred by Nigeria’s oil industry at about $1.5 billion each month, translating to N5.724 trillion annually. According to the ambassador, the report revealed that the country is currently losing 400,000 barrels of crude daily to pirates in the Gulf of Guinea, depressed oil prices, rampant corruption, and pipeline…

Former President,  Olusegun Obasanjo has advised the Federal government to avoid the temptation re-establishing another National Shipping Line for the country with government fund as it will not be sustainable in the long run. Obasanjo who gave this advice Monday during the opening session of the ongoing Maritime Stakeholders’ Conference with the theme,” Building a Sustainable Maritime Industry in Nigeria”, holding in Lagos recalled that Nigeria had a horrible experience running the liquidated Nigeria National Shipping Lines (NNSL) as well as the liquidated Nigerian Airways adding that while the plans to re-establish the National Shipping was a laudable one, the…

The Archbishop of Onitsha Ecclesiastical Province, His Grace Most Rev. Dr. Valerian Maduka Okeke‎ has commended the Governor of Anambra State, Chief Willie Obiano for his doggedness, abilities and the clear vision with which he is piloting the affairs of the state that is yielding positive results. Archbishop Okeke made the commendation at St Pius X Seminary Feast Day/ Investiture of Seminarians at St Pius x Spiritual Year Seminary, Akwu-Ukwu, Idemili South Local Government Area, Anambra State. The Archbishop noted that Governor Obiano had distinguished Anambra in the area of security as one of the safest states in Nigeria; being…

Contrary to the fears entertained by most Nigerians that the $38 per barrel oil price benchmark for the 2016 budget signed into law recently by President Muhammadu Buhari may not be practicable, a financial analyst, Mr. Johnson Chukwu has said that problem of volume variance and not that of price variance may be the only problem government will have with regards to the implementation of the 2016 budget. Chukwu who made this position known in a chat with Primetime Reporters in Lagos the challenge the country would have was not in terms of price as according to him, oil had…

The Chairman, Association of Igbo Maritime Practitioners of Nigeria, Mr. Uchechukwu Aniezechukwu has blamed the dwindling customs revenue on lack of conducive environment for investors to do their business. Aniezechukwu who made this observation in a chat with our correspondent in Lagos said that people did not have confidence on the policies of the government notwithstanding the FOREX restriction to some import goods in the country by the Central Bank of Nigeria (CBN) adding that people were not convinced on what the policy thrust of the government was thereby making them cautious with their investment. He recalled that whereas it…

A maritime stakeholder, Sir Tony Anakebe has given a thumb down to the administration of the President Muhammadu Buhari one year after assuming office as President of the Federal Republic of Nigeria saying he is yet to meet the expectations of the practitioners in the maritime sector of the economy. Speaking in a chat with newsmen in Lagos, Anakebe recalled that on assumption, the expectations of the stakeholders were very high as they hoped that was going to bring change in every aspects of the economy but were disappointed to note instead, a lot businesses had gone underground as a…

The rank of the labour unions in the country has been split in two over the new pump price for Premium motor spirit, also known as petrol recently announced by government. The split was caused by the position of the two main unions in the country’s oil and gas sector which on Friday voiced their support for government decision to arrive at the new N145 per litre for the product. The unions, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas workers (NUPENG), made their positions known in a…

The Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu has decried the misrepresentation of the size of the 2016 budget among Nigerians saying that there was need to actually dissect the budget size properly. Chukwu who was speaking in an exclusive interview with Primetime Reporters in Lagos stated that this had become necessary as there were some element of confusion among Nigerians about the budget size. He disclosed that the budget of N6.06 trillion was made up of N1.57 trillion which was the capital expenditure of the budget which according to him was the critical aspect of the budget…