How Diezani Emerged First Female OPEC President

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has been elected as the first female President of the Organisation of the Petroleum Exporting Countries, OPEC, at the 166th meeting of the OPEC Conference in Vienna, Austria.

Her election comes as oil prices plunged further after the members of OPEC admitted that the cartel had lost its power to determine the price of crude oil in the world market.

Against popular expectation, the organisation rose from its crucial meeting in Vienna, Austria with the decision to leave its crude oil output unchanged at 30 million barrels per day.

The decision was taken mainly because of the awareness that non-member states, especially United States and Middle East nations now have the capacity to produce and export commercial crude oil to the world market.

Specifically, members of OPEC felt it would not make sense to effect a cut in its output as that would not impact positively on the global oil market.

Alison-Maduke takes over from Libya’s Vice-Prime Minister for Corporation, His Excellency Abdourhman Atahar Al- Ahirish, and her tenure takes effect from January 2015. Before her emergence, she was the Alternate President of the Organisation.

The Conference also elected His Excellency, Dr Mohammed Bin Saleh Al Sada, Minister of Energy and Industry of Qatar and Head of its delegation as Alternate President.

Speaking at the meeting, Alison-Madueke said the US Shale oil and gas had a lot of impact on all major oil and gas producing economies stressing that it is a major game changer for all stakeholders in the energy mix across the globe.

The Petroleum Minister noted that in the months ahead, OPEC would provide a veritable platform for member countries to find a remedy and deal with the issue frontally noting that there are no quick fixes to the sliding oil prices.

The newly elected OPEC President stated that the burden of falling oil prices is impacting on both OPEC and non OPEC member countries.

Alison-Madueke said that the current trend would make Nigeria to look very stringently again at the Petroleum Industry Bill, PIB, which is already before the National Assembly to ensure that the enablers therein are explored to make it more and more competitive in the global energy market.

On the plans by the Federal Government to prepare for the global fall, she said Nigeria has no recourse at this point in time other than to fully develop her gas infrastructure for domestic use.

The OPEC conference however confirmed the readiness of member countries to respond to developments which could have an adverse impact on the maintenance of an orderly and balanced oil market.

OPEC also directed its secretariat to step up its close monitoring of developments in supply and demand as well as non fundamental factors such as speculative activity and keeping member countries fully briefed on developments.

OPEC source, who preferred not to be named, stated in a telephone interview that the Alison-Madueke’s election was based on the confidence of the international community on Nigeria.

He stated, “Nigeria is a big player who deserves to be recognised and given increased responsibility in OPEC.”

“Moreover, past leaders, including Dr, Rilwanu Lukman, who served in that capacity did not disappoint OPEC member states,” he stated.

The minister, who is expected to work closely with the Secretary General would serve in that capacity for one year.

Specifically, she is expected to work towards the accomplishing the goals and objectives of OPEC, the intergovernmental Organisation that was created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

The five founding members were later joined by nine other members: Qatar (1961); Indonesia (1962) – suspended its membership from January 2009; Libya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973) – suspended its membership from December 1992-October 2007; Angola (2007) and Gabon (1975–1994).

OPEC’s objective is to co-ordinate and unify petroleum policies among member countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations, and a fair return on capital to those investing in the industry.

OPEC’s formation by five oil-producing developing countries in Baghdad in September 1960 occurred at a time of transition in the international economic and political landscape, with extensive decolonisation and the birth of many new independent states in the developing world.

The international oil market was dominated by the “Seven Sisters” multinational companies and was largely separate from that of the former Soviet Union and other centrally planned economies.

But OPEC developed its collective vision, set up its objectives and established its Secretariat, first in Geneva and then, in 1965, in Vienna.

It adopted a ‘Declaratory Statement of Petroleum Policy in Member Countries’ in 1968, which emphasised the inalienable right of all countries to exercise permanent sovereignty over their natural resources in the interest of their national development. Membership grew to 10 by 1969.

OPEC rose to international prominence during this decade, as its member countries took control of their domestic petroleum industries and acquired a major say in the pricing of crude oil on world markets.

Read More

Bomb Blast Rock Kano Central Mosque, Scores Feared Dead

Another bomb blast has occurred at Kano Central Mosque today during Juma’at prayers. Many people observing their prayers are feared dead.
Kano Central Mosque is where the Emir of Kano usually leads prayers on Friday.
More details later.

Read More

Youths Are Veritable Tools for Peace, Development- Onoja

A member of the Peoples Democratic Party (PDP) from Benue State, Chief Mike Onoja has said that Nigerian youths can help tremendously to foster peace, unity, development, free and fair elections by engaging in a positive attitudes and actions.

Chief Mike Onoja who stated this in Abuja, said the youths are vibrant and more effective than the elderly and should be engaged in more productive ventures, rather then been used as political thugs by politicians.  

The former Permanent Secretary, Federal Ministry of Defence who is aspiring to represent the people of Benue South Senatorial District in the Senate in 2015, said he is in the race to give the people of his Senatorial District quality representation.

While calling on the people of the state to support his candidature, he assured he’ll use his influence to attract federal government’s presence to the senatorial district and Benue State in general.

Chief Onoja also condemned the agitation for automatic ticket for Peoples Democratic Party (PDP) Senators to return back to the National Assembly in 2015, describing it as undemocratic and unfair. 

He said those calling for automatic ticket for serving Senators do not mean well for the people of Nigeria. He stressed that the only bases for Senators to be re-elected are their outstanding performance, adding that Senators should be bold enough to stand before their people to seek their mandate if they think they’ve lived up to the people’s expectations.

Chief Onoja further debunked the alleged reports that he has dropped his Senatorial ambition, saying, “It is not possible for me to drop my Senatorial ambition, I have been cleared by the screening committee and I have my certificate of clearance and in the next few days I am going to tour the Senatorial districts to let them understand my vision for running. And somebody of my standing and caliber cannot stat a project and not end it properly. I have to bring it to its logical conclusion, because I know the implication of dropping out”.       

“The youths can ensure transparent elections by making sure that the election is not rigged and by protecting the masses by ensuring that their votes count. The youths are more active and more vibrant in the process of voting than the elderly people. And if you do not really have the support of the youths, it will be difficult for you to carry out the elections properly. And so they can aid positively in protecting voter’s rights by not been involved in rigging and malpractices and contribute their own development to the process. Because without the youths you cannot have a very credible election, because they are more vibrant and useful in the electioneering process.

 “The issue of automatic ticket is undemocratic. What the automatic ticket issue seeks to address is whether you performed well or not, automatically you should be given the ticket. It does not take into cognizance the performance of the particular Senator. It doesn’t work that way, you have to go to the people and seek their mandate. You cannot stay in Abuja and give somebody an automatic ticket without considering the wishes of the people. It is undemocratic, it is unfair and unthinkable. Your ticket should be based on your performance and then if the zoning in your own state still favours you, then you can go and seek the people‘s mandate for a re-election. If you are not performing and you want an automatic ticket, it’s unfair, it’s undemocratic, it’s not practiced anywhere in the world”.

Read More

FG Refutes MURIC's Allegation of Jewish Symbol on N100 Note

The Federal Government of Nigeria (FG) has refuted an allegation of in-scripting a Jewish sign on the centenary N100 notes by Muslim Rights Concern (MURIC). The Director of MURIC, Prof. Ishaq Akintola had in a statement said that Pres. Jonathan was attempting to turn Nigeria into a Zion state through the introduction of a Jewish sign on the yet to be introduced N100 centenary commemoration note.
The Presidential spokesman Reuben Abati,while reacting to the allegations said:

"Our attention has been drawn to a press statement issued by the Muslims Right Concern and signed by Prof. Ishaq Akintola who is the Director of the group which made a number of allegations against President Jonathan while alleging that there is a Jewish symbol in the proposed commemorative new N100 note which will be officially issued on December 19. I find Prof. Akintola’s allegations rather curious and they can be dealt with as follows:

First, he needs to be told that President Jonathan is not anti-Muslim as he alleges. President Jonathan is the President of all Nigerians, whatever may be their beliefs. It is not true that President Jonathan is using the highest office in the country to promote Zion nation. I think that is a most unfortunate statement coming from Prof. Akintola of MURIC and for which they owe President Jonathan an apology.

 Two, the MURIC’s director also alleged that Muslims were marginalized in the national conference. Again, this is a very unfortunate thing to say.

The truth is that national conference organised by this administration has been praised and described as probably one of the best of such conferences ever organised in this country. It was a purposeful conference, a conference in which a lot of maturity was displaced. Religion did not become a big issue in that conference. Rather, the conference became a platform for addressing many issues of general concern to various groups, ethnic or religious. MURIC cannot claim not to know that that was a very successful conference.

Three, MURIC is also alleging that the security system in Aso Rock is saturated with Israeli security operatives. This again is a blatant lie. There are no Israeli security operatives saturating the security system in Aso Rock. To convince himself that this is true, we will like to invite Prof. Akintola on a visit to the Presidential Villa, to see whether indeed it is Israelis that are in charge of security.

The security operatives in the Villa are not foreigners, they are Nigerians and there is no connection with Israel whatsoever.” On the Jewish sign said to be on the N100 notes, Reuben Abati said it is a sign of security which would be used by Nigerians to determine if the note is original or fake and is not a religious sign as speculated by Prof Akintola. "The premised of the issue that formed the basis for Akintola’s vituperation is wrong and he is misinformed. The symbol his statement is referring to is the Star of David. There is no where on that proposed note as indicated in the specimen that has been widely publicized where there is any Jewish or Zionist symbol or the Star of David.

The Star of David is a hexagram which is two triangles of equal lines superimposed on each other. The hexagram is a very popular symbol but it is not on that naira note. The symbol that he is referring to is not a Jewish symbol. It is what they call spark security feature. It is an optical magnetic feature which enables the public to authenticate a currency note whether it is genuine or counterfeit. That is the function of that particular design.

That design is not an hexagram and it is not in any way associated with Israel or Jewish or Zionism. It is two squares merged into one with a Manila briquet, which is a symbol of the cowrie money used during the colonial era. It is an attempt on the part of MURIC to cause disaffection because on the design of that note, the value of that note is written out in the three major languages in Nigeria, recognised in the constitution: Yoruba, Igbo and Hausa. No attempt has been made to use this proposed naira note to discriminate anybody and the attack on President Jonathan is undeserved, unwarranted and totally unkind. I believe that MURIC will see the need to quickly apologise for misleading the public and for issuing that kind of statement that can cause disaffection against the President” he said

Read More

Tambuwal picks APC presidential nomination form

The Speaker of the House of Representatives, Aminu Tambuwal, has picked the notice of intent and nomination forms to run for the office of president of Nigeria on the platform of the All Progressives Congress, ‎APC.

Mr. Tambuwal recently defected from the ruling Peoples Democratic Party, PDP. In response, the federal government withdrew his security detail.

Mr. Tambuwal was earlier tipped to run as governor in his home state, Sokoto.

But the speaker received the presidential nomination forms Thursday, his spokesperson, Imam Imam, told PREMIUM TIMES.

“Earlier today, some friends and political associates of the Speaker notified him that they have bought the forms for him,” Mr. Imam said.

PREMIUM TIMES understands that several APC members in the House of Representatives trooped to the party’s Abuja office to purchase the forms on Mr. Tambuwal’s behalf.

Sources in the APC say Mr. Tambuwal is in the presidential race at the prompting of one of the leaders of the party, Bola Tinubu, who is a former governor of Lagos State.

Mr. Tambuwal’s indication of interest brings to five the number of persons who vying for the nation’s top job on the platform of the party.

Others who had earlier picked the forms are former Head of State, Muhammadu Buhari, former Vice President Atiku Abubakar, Governor Rabiu Kwankwaso of Kano state, and newspaper publisher, Sam Nda-Isiah.

The APC has said it will conduct a modified primary election in which delegates will vote for their candidate of choice from their home state, after which a national convention will simply collate and ratify the votes from across the country.

Read More

PHOTO OF THE WEEK: Guess Who's Here!

Read More

Military helicopter crashes in Adamawa state

A Nigerian military helicopter on surveillance mission has crashed in Damariea in Girei Local Government Area of the state. Residents of the area said the helicopter crashed close to the temporary camp of the National Youth Service Corps, NYSC, which is now being used as a camp for Internally Displaced people in the state. Details later.

Read More