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Page 4 Nigeria’s $20bn oil investment dips by 20% – Chevron From Mohammed Shosanya, Lagos Total Investment in Nigeria’s oil and gas industry, which stood…

Page 4

Nigeria’s $20bn oil investment dips by 20% – Chevron

From Mohammed Shosanya, Lagos

Total Investment in Nigeria’s oil and gas industry, which stood at $20billion in 2014 has dropped by 20 percent this year, President of Chevron Africa and Latin America exploration and production, Mr.Ali Moshiri, has said

Moshiri disclosed this in Lagos yesterday at the ongoingý annual conference of the Nigerian Association of Petroleum Explorationists (NAPE).

He also said Nigeria accounted for $20 billion out of the $600 billion investment in the global oil and gas industry in 2014.

He said in 2015, investment in Nigeria’s oil and gas industry has dropped by 20 percent, adding that Nigeria was the top producer of liquid hydrocarbon and number three in gas production in Africa.

He stated that Nigeria’s number three position in gas is due to lack of gas infrastructure and not because of gas resources.

According to him, Nigeria has much more gas resources to the extent that the country could be number three or four around the globe, but added that the problem is lack of gas infrastructure.

“But when you talk about investment, total industry investment in 2014 was about $600 billion and Nigeria had around $20 billion. After the price crash, there is tremendous reduction in global investment. Now the question you may ask: is that reduction because of cost efficiency or is that reduction because of investment? They are not doing the same thing they did before and it is cheaper. As you can see, investment in Nigeria has significantly dropped by 20 per cent,” Moshiri explained.

Moshiri said Nigeria had tremendous capacity and resources to produce far above 2 million barrels of crude oil per day, but added that much investment would be required.

He disclosed that $20 billion investment would be required yearly for the country to replace its current production levels.

Moshiri said many projects were locked up in Nigeria because of cost and identified Bonga South West project as one of the projects.

He said the current slump in crude oil prices should not be a surprise to anyone as he had witnessed four of such decline in his 40 years in the oil and gas business.

Osun, Ondo top states with genital mutilation

From Abdul-Hameed Oyegbade, Osogbo

Osun, Ondo, Oyo states top the list of states with female genital mutilation prevalence in Nigeria, the United Nations Fund for Population Activities (UNFPA) has said.

UNFPRA representative Mrs Ratidzai Ndhlovu disclosed this in Oshogbo during a meeting organised byý the UN agency in collaboration with Shericare Foundation (SCARF), a pet-project of Osun State first lady Mrs Sherifat Aregbesola.

“The prevalence of female genital mutilations in Osun state stands at 76.6 percent, followed by Ondo (74%), Ekiti (72.3%) and Imo (68%), Oyo (65.6%) and Kwara (56.8%),” Ratidzai said.

She said 85 million girls born between 2000 and 2010 are at risk of mutilation and that 8,000 girls are mutilated daily.

She said the event was taking place in Osun because FGM practice is

common in the state.

Mrs Aregbesola described female genital mutilation as primitive and very worrisome. She promised that all hands would be on deck to ensure that the practice is eradicated in Osun.

‘Troops to capture Sambisa before Dec deadline’

From Ibrahim Sawab, Maiduguri

The Theater Commander of the Operation Lafiya Dole, Maj.-Gen. Yusha’u Abubakar, yesterday said Sambisa must be captured before the end of December deadline having liberated villages around the forest.

Abubakar, who visited the librated Bita village in Gwoza local government area of Borno State, said though his troops are yet to reach the promised land but he is happy that they are well progressing.

Our correspondent and other three journalists were yesterday at Bita village which is situated 15kmsaway from the Sambisa forest, where they saw destroyed camps and burnt varieties of cars and other items.

Also there, they severally heard vibratory gunfire which was said from troops engaging Boko Haram militants.

The commander, while inspecting some destroyed Boko Haram camps in surrounding librated village, said he was at Bita village in order to be close to his men officers at front line.

“The Chief of Army Staff, Lt.-Gen. TY Buratai gave directives that you must be close to your troops. You must be able to see what they are doing; guide them, look at their challenges, encourage and give them the moral to fight the war,” he said.

“For us to be here in Bita, it implies that we have done a lot of job by capturing, clearing and taking care of all those camps that were under Boko Haram. And, we are using this as a staging area for further offensive operations and objectives,” he said.

Abuja airport arrest: Our brother is not Boko Haram – family

From Balarabe Alkassim, Bauchi

Family of the alleged Boko Haram suspect arrested recently at the Abuja airport has said the man is not a member of the terrorists group.

Bello Chindo was arrested by security at the airport as one of the 100 suspects declared wanted by the Nigerian Army.

A senior brother of the arrested suspect Sodangi Chindo, his brother has nothing to do with insurgency or any criminal activity, while addressing journalists in Bauchi yesterday.

“Detained suspect Bello Chindo was wrongly arrested by the Army on 7th November 2015 at the Nnamdi Azikiwe International Airport Abuja, and he has nothing in common with the wicked Boko Haram insurgents,” he said.

He said Bello was dropped by his senior brother at the airport on his to Cotonou via Lagos to purchase Tokunbo vehicles for some of his customers.

He added that the family were shocked and terrified over Bello’s arrest and advised authorities concern to release him or to conduct proper investigation to avoid harming him.

Chindo said his brother is an indigene of Bauchi state and was born and raised at Dogon Karfe in Jos Plateau state.

He said that his brother attended Roman Catholic Mission Primary School Giring, G.S.S Gangare and studied Sociology at the University of Abuja.

He added that Bello is a motor mechanic and have been with his brother Musa Chindo who is working with Ali Motors at Area 11Garki Abuja for over 10 years.

“He has never been to Maiduguri throughout his life. And we have never known him to have any sympathy with any insurgency all over the world,” he said.

He said his picture is not among the 100 suspects declared wanted by the armyý.

Kogi: Osinbajo campaigns for Audu

From Itodo Daniel Sule, Lokoja

Vice President Yemi Osibanjo yesterday stormed Okene in Kogi state to canvass support for the All Progressive Congress governorship candidate, Prince Abubakar Audu in the November 21 governorship election in the state.

The vice president on arrival headed for the palace of the paramount ruler of the area, the Ohinoyi of Ebira land, Alhaji Ado Ibrahim where he commended the people for sustenance of peace in the area.

Osibanjo who later moved to the campaign ground, told the crowd of supporters that turned out at the rally to vote massively for APC candidate in the forthcoming election.

The vice president in his address said people of Kogi cannot afford to remain in the opposition, adding they should align themselves with government at the centre.

The governorship candidate, Audu at occasion begged the electorate to vote for him, promising that he will provide the dividend of democracy to the people if voted into power.

Audu said the PDP regime had misruled the state and promised to bring the Kogi out of its present state of underdevelopment.

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