Deregulation has reduced petrol consumption by 30% - Kachikwu

The Minister of State for Petroleum Resources and immediate past Group Managing Director of the NNPC, Ibe Kachikwu has said that the deregulation of the downstream oil sector with the resultant increase in the pump price of petrol has led to the reduction of 30 % in the consumption of the commodity.

Kachikwu said this at the NNPC Towers, Abuja on Friday while handing over to the new Group Managing Director of the corporation, Maikanti Baru.

“We undertook deregulation at the time nobody thought it was possible and if there’s anything we leave for this industry, it must be the legacy of that deregulation.

“Today our consumption of fuel has gone down by 30 per cent; we have no queues in the filling stations; we have one and a half months of self sufficiency; we have strategic reserves in place that we are putting together and we have a funding scheme to enable the downstream to be able to adequately fund itself.

“We have succeeded in removing subsidy and saving over N1.4tn for this country on a yearly basis. We have reduced upstream contracting period from the average of between two and half years to between six and nine months and we have started a massive commercialisation of every aspect of our business,” he said.

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Kachikwu pledges to support new GMD of NNPC

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has assured the new Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Maikanti Baru of his support in moving the company to greater heights.

Kachikwu gave the assurance on Friday while handing over the affairs of the NNPC to Baru. President Buhari had on Monday announced the appointment of Baru as the new GMD of the corporation.

“I want you to know that this is a great task; be focused and see it as a service to the nation, work hard to leave a great legacy.

“It is not how long you stay that matters but how well, look for legacy issues and work on it, I will give you every support that will help you to supersede what I have achieved,’’ he said.

Kachikwu advised Baru to ensure that the series of restructuring which have been done at the NNPC should be sustained in order to move it to the next level.

He explained that the NNPC had achieved a lot in the past 11 months, including the partial deregulation of the downstream sector and the reduction of its operational cost by 30 per cent.

“We need to find structure in which private fund will be used to help our refineries to work at 90 per cent capacity," he said.

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Treasury looters will regret more - Buhari

On Friday at the State House, Abuja, President Muhammadu Buhari received in audience, members of the Northern Christian Leaders Eagle Eyes Forum. The group was led by Pastor Aminchi Habu.

Also on the delegation was the Secretary to the Government of the Federation, SGF, Mr David Babachir Lawal among others.

The group had expressed their concern  on issues of security, unemployment, anti-corruption campaign and the incessant clashes between herdsmen and farmers.

The president told them that those who looted the treasury were now regretting their actions and would regret even more.

“It is saddening that some of those who stole from our national resources put the money in their personal accounts.

“However, it is gratifying that those who stole money and shared funds meant for the purchase of arms for our military are regretting their actions and they will regret more.

“Those caught in corruption will have themselves to blame,’’ he vowed.

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Nigerian Twitter user needs a husband ASAP

Biko help a sister, young Nigerian woman advertises for a serious boyfriend on twitter http://www.lindaikejisblog.com/2016/07/biko-help-sister-young-nigerian-woman.html

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Ahmed Musa don join Leicester City

Naija intaneshonal, Ahmed Musa don join EPL Champions, Leicester City from CSKA Moscow, bot di klob no tok hau moch dem bai am.

Na 4 yiez kontrakt Musa sain na im mek am 4 pleyas we di Foxes don sain fo di niu sizin as dem don ouredi kapcho Nampalys Mendy, Ron-Robert Zieler and Luis Hernandez.

Musa bin sko 13 gols fo di 30 machis we im ple fo CSKA Moscow fo 2015/2016 sizin.

Leicester City rait fo dia websait se wetin mek dem laik Musa bi se im de fast, im get ai fo gol and im fit ple fo wings ou fo front.

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FG's delegation to Shinkafi's funeral (Photo)

The remains of former federal minister, Umaru Shinkafi who died in a London hospital on Wednesday were buried on Friday in Sokoto.

The Federal Government delegation was led by the Minister of Interior, Dambazau.

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Families of electrocution victims demand N140m from power company

Relations of the six people who were electrocuted due to a transformer explosion at Tundunwada area of Lugbe, Abuja are demanding a settlement of N20m for each of the fatalities from the Abuja Electricity Distribution Company, AEDC.

They are also demanding N5m in damages for each of the four persons who sustained injuries from the explosion.

An AEDC power transformer had exploded in the area on Saturday, causing the electrocution of six persons including a pregnant woman.

Ikenna Olelewe who lost his 28 years old brother, James in the incident told The Punch that the families of the victims have been discussing the issue of compensation by AEDC with leaders of the community.

“The community chief pleaded with us to resolve the matter amicably with the AEDC officials, but the resolution depends on how cooperative the power firm is. The affected families have resolved to demand N20 million for each life lost and N5 million each for those injured; we have instructed our lawyer to write to the company and make our demands known,” he said.

A community leader, James Omeje blamed the AEDC for the tragic incident which he attributed to wrong connection.

However the Head, Corporate Communications and Community Relations of AEDC, Oyebode Fadipe said he would not comment on the incident till ongoing investigations were concluded.

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