ONE WORD

Nigeria, others’ crude-spot dwindles as traders await new programmes Nigeria is said to be producing 1.78 million barrels of crude oil per day (bpd), Minister of State for Petroleum, Dr. Emmanuel Kachikwu, said on Wednesday. Spot activity dwindled on Monday as traders awaited the new March Nigerian and Angolan loading programmes that are expected to emerge this week, while India’s IOC mopped up some cargoes via a tender. Less than five cargoes of Angolan crude remained from the February programme. BP was said to be offering a cargo of February-loading Nigerian Escravos at dated Brent plus $2.10 a barrel, according to a Reuter’s report. Vitol was said to be offering a cargo of Bonny Light at dated Brent plus $2 a barrel. India’s IOC awarded its March 1-10 tender to Total and Chevron, traders said, for two VLCCs. Chevron was said to be sending Agbami and Escravos while Total would be sending a cargo of Nigerian Akpo and another grade that was not known. India’s IO...

FG is repositioning maritime industry to grow the economy — SGF update by Vanguard By Godwin Oritse The Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, has said that the Federal Government has successfully worked hard through the Nigerian Maritime Administration and Safety Agency, NIMASA, to reposition the Nigerian maritime industry for the nation’s economic growth. Mr Boss Mustapha, the Secretary to the Government of the Federation (SGF) The SGF, who spoke at the NIMASA Corporate Dinner and Merit Awards held at Eko Hotels, Lagos last weekend pointed out the nation was beginning to see another opportunity through which it could harness its vast resources. Mustapha, who was represented by the Minister of Budget and Planning, Senator Udo Udoma, equally noted that the current management of NIMASA had, in about three years of President Buhari’s Administration, turned around the Agency and placed it on a good position to continue to contri...

NIMASA, Shipowners, cadets disagree on sea time training update by Vanguard By Godfrey Bivbere A disagreement has erupted between the Nigerian Maritime Administration and Safety Agency, NIMASA, Ship Owners Association of Nigeria, SOAN and Cadets of the National Seafarers Development Programme, NSDP, over sea time training for Nigerian cadets. Students undergoing training at the Maritime Academy of Nigeria While NIMASA and the Cadets insist that only sea time training on-board ocean going vessels are recognised at the global level, SOAN is of the view that their vessels should be used for the mandatory training requirement. Speaking with Vanguard Maritime Report on the issue, Executive Director in charge of Finance and Administration at NIMASA, Bashir Jamoh, said the agency is not going to place graduate cadets of the National Seafarers Development Programme, NSDP, on ships in the Cabotage area. Jamoh, who disclosed this in a chat with Vanguard Maritime Repo...

MFM seek first win as NPFL Week Two games hold today MFM FC. Photo/ Twitter/Skolatunbosun<br /> Still smarting from their opening day 0-2 defeat by Enyimba in Aba, former runners up, MFM Football Club of Lagos go into today’s Week Two game of the Nigeria Professional Football League (NPFL) sure of getting their first three points of the season. Although some of their top performers have left for greener pasture elsewhere, the Olukoya Boys believe they have the weapon to gun down Kwara United in the Group A game billed for the Agege Stadium. Ironically, the MFM gauntlet is being championed by former Kwara United forward, Michael Ohanu, who has pledged to gun down his erstwhile employers. Ohanu, who spent three years at Kwara United, joined the Olukoya Boys from El-kanemi Warriors during the transfer window. “We lost that match, so we are determined to put in our best and work very hard to win this one in our home. “Kwara United drew their last home game an...

Airtel set to buy Telkom, targets May/June for IPO Airtel Bharti Airtel is in talks to buy Telkom Kenya, which will help the Sunil Mittal-led telco emerge stronger in the east African market and improve overall valuation of Airtel Africa in the run-up to its initial public offer (IPO), likely in May-June, people aware of the development said. Telkom Kenya is the third-largest telco in Kenya with over five million users, behind market leader Safaricom with over 30 million and Airtel Kenya, with 10 million-plus customers. It is 60 per cent owned by UK private equity firm Helios Investment Partners and the rest by Kenya’s government. According to Economic Times (ET) of India, Bharti Airtel is learnt to be in preliminary talks with Helios, though it will probably inform the Kenyan telecom regulator only if discussions lead towards a potential deal, said one of the persons cited above. A Bharti Airtel spokesman declined comment and ET’s queries to Helios Investment did not ...

Idris and transitioning of Nigeria’s troubled police Buhari (middle), Idris and Adamu To his relief and that of most Nigerians, Mr. Ibrahim Kpotun Idris, has finally been transitioned from Inspector-General of Police to an ordinary civilian by way of belated retirement. And as he joins other former top cops to reflect on his service years and how far he was able to shape The Nigeria Police, Idris would discover that what he did and did not do while in office would continue to be subject of public conversation. Already, the former IGP’s extra 12 days in office have become a trending topic. Did Ibrahim Idris, whose flip-flops in office included the hasty charge against Senator Adeleke for examination malpractice, revise his birth date? What happens to the salaries and emoluments he received in those bonus days from Nigerian taxpayers? Nearly three years ago, Idris’ voice was heard when he assured Nigerians at his inauguration that “we are going to do everything possible to...

‘Why we are supporting MSMEs with various intervention schemes’ [FILES] Osinbajo Vice President Yemi Osinbajo, has said Micro, Small, Medium Enterprises (MSMEs), are the most important business component for economic growth and there should be supported for growth, Osinbajo said this at the weekend while launching the MSME clinic in Minna, Niger. “The MSME clinic is a response to the fact that we recognise that MSMEs are the most important business component of our economy. “In any economy, what small businesses contribute is really the super structure of the economy. And that is why the President decided that we must have this clinic in every state of the Federation and so for the past two years we have been going round flagging MSME clinics state by state and one-stop shop”, he added. He noted that having MSMEs clinic in each state had become necessary to facilitate the work of MSMEs, adding that most small businesses find it difficult to travel all the way to...