Sunday, 10 January 2016

Pastor Adeboye of RCCG Shocks Everyone as He Talks about His Impending Death

 Pastor Adeboye of RCCG Shocks Everyone as He Talks about His Impending Death Pastor-Adeboye

The annual Holy Ghost Congress of the Redeemed Christian Church of God (RCCG) ended with cold biblical references by the General Overseer, Pastor E.A Adeboye about death which left his audience in cold shock.

Millions of worshippers in attendance roared in disapproval as Pastor Adeboye, hinted at his possible passing.

The one-week programme ended on Saturday, with a three-in-one service, comprising anointing, communion and impartation. Ministering on the transfer of anointing, Adeboye said he would not be too young at 73 to go back to his creator. He would be 74 in March.

He was explaining why the transferred anointing is always more potent than the index case, using Moses and Elijah as examples. Using the scripture, Adeboye pointed that where Moses, who got his anointing directly from God failed, Joshua, who got his fire from Moses, excelled.

He also cited the case of Prophet Elijah who performed 7 miracles while Elisha who got his anointing from Elijah when God was taking him away, performed 14 miracles.

Adeboye equally explained that the beneficiaries got the transferred anointing when their masters were about passing away.

He said he would anoint his wife and other very senior pastors who, in turn, would anoint other pastors, from where the worshippers would experience their own anointing fire.

After the explanation, he looked at the congregation and said:
“you may be wondering if I am about to go. Will it be too early for a 73-year-old man to die? If I go now, who will say it is too early? ”

At this point, the worshippers, who were at the beginning rejecting his passing in a murmur, roared their disapproval loudly from all the four corners of the new auditorium.

Smiling, Adeboye added, “I am not too young to die.” Again, the crowd screamed their disapproval.
He later calmed everyone down, saying:

“okay, it is not now (I’m not dying now).”

To which the crowd roared a thunderous “Amen.”

BREAKING!!! Defection: APC Bars Arthur Eze, Obi, Obiano

BREAKING!!! Defection: APC Bars Arthur Eze, Obi, Obiano PMB Obiano 
Confusion Over Anambra Central Senate Seat Persists

Following the mass defection of stalwarts of Peoples Democratic Party (PDP) to the All Progressives Congress (APC), indications have emerged that the national leadership of the ruling party has ruled out the admission of billionaire oil-magnate, Prince Arthur Eze, former Governor Peter Obi and incumbent Willie Obiano, into the party.

The development comes on the heels of fresh confusion over the authentic candidates to contest the rerun election for Anambra Central Senatorial district, which was ordered by the Court of Appeal after the nullification of the election of erstwhile Senator Uche Lillian Ekwunife on December 6, 2015.

Sources close to Ekwunife, who recently defected to APC, confided in The Guardian that the former senator decided to jump ship to avoid the myriad of leadership crisis bedeviling the PDP both at national and state levels.

While declaring for APC, Ekwunife said her election “was mischievously cancelled”, stressing that the Appeal Court turned itself to a Father Christmas by granting a relief not sought for by the All Progressives Grand Alliance (APGA) candidate, Victor Umeh, the petitioner.

She recalled how a Federal High Court Abuja had prior to the Appeal Court judgment, upheld her candidacy in a suit filed by Chief Sylvester Annie Okonkwo, challenging the validity of her nomination and wondered why the court should rule that she was not duly and legitimately nominate as the PDP candidate.
“The outcome of what we witnessed was a conspiracy between some elements in PDP and the state government”, she added; lamenting that “even if I were not the valid candidate, the right thing for the court was to declare whosoever came second in the PDP Primaries as the authentic candidate, thereby replacing me as it is purely a party matter.”

Apart from the confusion as to who, between Ekwunife and Chief Okonkwo, was the authentic PDP candidate for the Anambra Central Senatorial district, APGA is also troubled by two contending candidates between Umeh and Barrister Obi Okafor of the Maxi Okwu faction.

Last week, stakeholders in Anambra Central Senatorial district, after a meeting at Njikoka, endorsed Ekwunife for the Senate seat, even as they declared that the zone cannot toy with the idea of having “a non-ranking senator in the senate at this point in time.”

Why I Fought On The Side Of Ojukwu, Biafra – Lt. Fola Oyewole

Why I Fought On The Side Of Ojukwu, Biafra – Lt. Fola OyewoleLt.-Oyewole-2Retired Lt. Fola Oyewole, 77, a Nigerian Military Officer of the Yoruba stock, fought on the side of Biafra during the ncivil war. Before then, he was, because of the first coup 50 years ago, imprisoned in Lagos and in the Enugu but was released by Lt Col Ojukwu.
He wrote his own war account too, entitled “The Reluctant Rebel”, which joined other civil war narratives like ‘The Biafra Story’ (1969) by Frederick Forsyth, ‘Why We Struck’ (1981) by Adewale Ademoyega, ‘Sunset In Biafra’ (1975) by Elechi Amadi, ‘The Nigerian Revolution And the Biafran War’ (1980) by Alexander Madiebo among others.
In this interview with Ademola Adegbamigbe and Femi Anjorin (Idowu Ogunleye snapped the photos), the retired army officer narrated what happened during the first coup, his participation in it and why he, despite being Yoruba, fought on the side of Biafra like other non Igbo officers like Lt Col. Victor Banjo, Major Wale Ademoyega and others.
Q: On January 15, it will be 50 years that the military struck, how will you assess the journey so far? Because there is always this stock phrase that the military spoilt Nigerian politics?
A: Well I don’t subscribe to that and maybe you will understand why I said that. I do not think that the military really spoilt Nigeria. More importantly, you will find out that right from Aguiyi Ironsi to the time the military sort of ended its intervention, if they had ended it at all, the military hadn’t any say in what is happening it is always the civilians dictating the pace, advising the military.
Q: It was on the allegation that you were among the people that planned that coup that you were detained by the federal government… we want you to assess the situation then, that really prompted the military to strike?

A: I was not one of the master planners of the coup. It will interest you to know that by half past eleven on the night of Janaury 14th, 1966, I had no clue about the coup. No clue whatsoever.

Q: So why did they link you?

A: Precisely, I was friendly with Emmanuel Ifejuna who was the brigade general and then after they had planned and done everything possible as the saying goes, some of the people who agreed to what they had agreed decided not to take part, it is a matter of getting anybody who could help and by virtue of my position, I had a telephone in my house which was the same thing that happened to most people there. The original planners started telephoning. Where are you.. I want to see you. It was an emergency period. I was second in command to the Transport Brigade in Apapa and we were on 24-hour alert. (So, like they will say something like this.. something is happening in Ogbomosho blah blah blah, can you help out? We did get instructions 24 hours).

It didn’t come as a surprise, so that is what happened. They drove to my house at about twenty five minutes to twelve and asked me to come to Ifejuna’s house. I got there and I saw a lot of officers, sitting down and they had even finished what they were talking about, and they said, you stay and I will brief you.

Q: Were you effectively court martialled before you were detained?

A: No.. No.. No… there was no trial, no court-martial nothing. I tell you, I got picked up before 8 o clock on Saturday morning and a group of senior officers interviewed me. I told them what I know and they said go and wait, that was the beginning of it all.

Q: There is a political tilt on how the coup was carried out and it has been generating controversy till today. Critics said the coup was lopsided. Ladoke Akintola was killed in the West, then Zik and Mike Okpara “were not around”. The argument was that they got wind of what was going to happen and left. There is this argument as to why were leaders from other parts killed and the Igbo leaders allowed to escape? What is your position?

A: I wouldn’t subscribe to that argument. They said Zik was ill, he was going for treatment and then he left the country and at the time of the coup, he wasn’t there, whether he got wind or he didn’t get wind of it, I would not know. Those who planned the coup must have taken a decision but it does appear that it was not in totality deliberate. I give you a specific example, the signal commencing the action in Enugu was delivered that morning and it did say: “Arrest, secure the key points and wait for further instructions”. And if you are in doubt, that was why Fani Kayode was arrested in Ibadan and brought down to Lagos, they wanted to kill him but what stopped them from killing him in his house in Ibadan was because of the instructions (waiting for further instructions) and he was brought down to Lagos.

Q: This interview is meant for people that are under 50 because even some people who witnessed what happened have forgotten. Tell us what happened before and after the coup happened and the pogrom leading to the Biafran war…

A:From that 15th of January, I was in prison, so it was all about they say, they say, they say.
Q: Looking at that time and now, have the factors that led to the coup and pogrom gone?

A: For me I wouldn’t think so. This question of quota system, being fair to this side and outside, taking advantage is still there. It is probably even worse. That’s the way I look at it. It is unfortunate, otherwise the country should have moved forward better than we are now. That’s the way I look at it.

Q: It was quite surprising that the people who really carried out the coup were not allowed to govern…

A: In planning the coup they had an idea, they know what they wanted and went ahead and achieved it but they did not have the power. So what can you do?

Q: Now let us come down to your book, Reluctant Rebel. What prompted you to write it?

A: When you find out that there is life in you. In the last two years I have been trying to do some writings, I can’t do so, but in prison there is nothing to do but eat, sleep. I wrote everything in prison.

Q: Were you not monitored?

A: Yes and No. You, find a way!

Q: What were the challenges that you faced in writing the book?

A: I faced none because the face that keeps reccurring or that I was remembering, I document it. I didn’t need any reference book. I didn’t need anything. The book is a narrative of a personal experience.
Q: Do you still feel the same perception about the coup? I mean this is a coup that you do not know anything about, just because some people backed out and you were now drafted in.

They said Zik was ill, he was going for treatment and then he left the country and at the time of the coup, he wasn’t there, whether he got wind or he didn’t get wind of it, I would not know. Those who planned the coup must have taken a decision but it does appear that it was not in totality deliberate. I give you a specific example, the signal commencing the action in Enugu was delivered that morning and it did say: “Arrest, secure the key points and wait for further instructions”. And if you are in doubt, that was why Fani Kayode was arrested in Ibadan and brought down to Lagos, they wanted to kill him but what stopped them from killing him in his house in Ibadan was because of the instructions (waiting for further instructions) and he was brought down to Lagos.

A: I was not the only one. There are some other people who didn’t know until that day. For instance on the night people were briefed, a colleague was in the briefing and he told them, look I have to consult my family. They looked at him and said ok, go and consult your family. Just by the corridor, they told somebody: “Follow him maybe he will be the first casualty of the coup”! Of course, what do you want him to decide? So simple. That gentleman is still alive today.

Q: In what area did you take part in that coup?

A: Arrest, seize facility and others…

Q: In your book, you write that after the coup, you were detained in Lagos and then transferred to the East but Ojukwu released you. We wonder why you didn’t run away?

A: Where do you want to run to? In Nigeria I was absolutely persona non grata, is it heaven you want to run to? Apart from that I and my other Yoruba colleagues had the fortune of having a chat with Chief Obafemi Awolowo when he came to the East. He and leaders of south east I cant remember all of them. On behalf of Nigeria, they came to plead with Ojukwu and we had the fortune of meeting him (Awo) because my late uncle M A Oyewole was Awo’s friend. So when he was leaving Lagos, he jokingly told him, you must come back with my son. So when he came to the east, Awo started looking for me. Eventually he left a message where I would meet him and I did. I told my colleagues and we all went and we saw him and in the course of the discussion, we did ask if we could come home and he said ‘not now, don’t try it’. So what do you do? And the easterners were not chasing us, so why not stay where you are accepted? So we stayed.

Q: You didn’t run away. But why did you decide to fight on the side of Biafra?

A: Now there was a trade I learnt- that is soildiering. What will I be doing in Biafra if I did not fight? I only practiced my trade. It is as simple as that. You could not just be walking around town doing nothing.

Q: But Ojukwu asked people who wanted to leave to go to the federal side..

A: That is before the war. If you remember early 1966 before the war till late 66 during the pogrom, by the time the war started, non easterners were in the east, they had not gone.

Q: In the book you said you do not believe in secession.
A: Yes.

Q: Despite that, you have it in your book that Ojukwu had genuine grievances, yet you fought on Biafran secessionist side, help us reconcile those positions…

A: You might have your objections but the powers that be, this was what they wanted, you have no choice. Mark you, I was not the only one who, given the chance, didn’t believe in secession, more so because we were not ready, we did not have enough arms. We had manpower, yes, credible manpower was there, but manpower alone doesn’t do it.

Q: You were at a point, according to your book, with Captain Adeleke, another Yoruba soldier, who was he?

A: He was a colleague. He is the one who said he wanted to consult the family and we were friends, we both worked in Apapa before the crisis.

Q: I want you to describe what happened to other Yoruba people or non Igbo who fought on the Biafran side – Lt Col. Victor Banjo, Major Wale Ademoyega, then Major Kaduna Nzeogwu an Igbo from Opanam in Delta?

A: They were detained like myself, and Nzeogwu was detained, that was a common factor.

Q: In the book, you applaud Ojukwu’s performance in Aburi, explain to us what actually happened because there is this argument that he bamboozled Gowon.

A: If you listen to the Aburi accord or the proceedings as a whole, you will duff your cap for Ojukwu whether he is a villain or whatever you want to call him, call him. He really dictated the pace of the discussion, he was prepared for it, he kind of put together all the things and if you listen, the moment he started talking, others kept quiet and when he finished, they will say ok ok ok. To give you a full grasp of what the theme was, you need to read the comment of the super perm sec who led us to were we are today.

Q: Was it Philip Asiodu?

A: The group – Asiodu, and the rest. Their recommendations, what they brought back from Aburi was agreed to be implemented but when they came here they tore it into pieces.

Q: Ok, was after the agreement was signed in Aburi? They came back to Nigeria….

A: To put it in whatsoever you can say political implementation. They desired to analyse it, it was an agreement not suggestion, that’s where our problem sort of started.

If you listen to the Aburi accord or the proceedings as a whole, you will duff your cap for Ojukwu whether he is a villain or whatever you want to call him, call him. He really dictated the pace of the discussion, he was prepared for it, he kind of put together all the things and if you listen, the moment he started talking, others kept quiet and when he finished, they will say ok ok ok. To give you a full grasp of what the theme was, you need to read the comment of the super perm sec who led us to were we are today.

Q: Kindly let us into what the agreement was? Because there was this talk of confederation, federation…And some critics said that was where Ojukwu bamboozled Gowon…

A. At the conference, Ojukwu spoke his own views, and they were entitled to theirs too, and fortunately or unfortunately they agreed. So what do you bamboozle?

Q: Do you have any reason to disagree on the war accounts of people like Frederick Forsyth, Wale Ademuyoga, Elechi Amadi?

A: It is their opinion. I only sympathise with them, they were writing after so many years after the event and in all modesty I will say I wrote more accurately than many of them. I wrote immediately after the war. I have nothing to refer to. I did not copy anybody and I wasn’t getting wiser after the event. I only reported what I saw. They have their own opinion, that’s how they see it.

Q: How will you describe the experience, in such traumatic detention circumstance, it is difficult to have power of recollection, how did you navigate?

A: That is the easiest thing to do, especially when I started writing it. What really prompted it, was the account being given by a lot of these igbo people- of what happened or what did not happen only to exonerate themselves. What is all these story telling, rather than keep quiet? That’s why I wrote. I wrote my book 1971-72 which wasn’t published until 1975. I don’t think any soldier wrote before 1980. Everything settled down. The difference is clear!

Q: Whats your view on the war accounts by Ojukwu himself and even Obasanjo?

A: I refuse to read, I don’t want to read. You cannot say Obasanjo was not telling the truth or Ojukwu was not, but if you want to value or know the value of Obasanjo’s book, go and read Alabi Isama, you find the difference. I am proud to say nobody has come up to say anything opposite in what I wrote. It was more or less reporting.

Q: Awolowo was accused of being behind the blocking of food supply to the easterners which really affected the civilian populace, what is your view on this?

A: Well he is the only one who has the view on it. I don’t have any view.

Q: Critics have been arguing about whether or not what he did was right…

A: Is any thing right in war?

Q: People who were in charge of Biafran propaganda said oh, the federal side took the advice of Awolowo and stopped food to the East….

A: Awolowo said, hunger, is the legitimate instrument of war so what else do you want to say? You want to be feeding your enemy so that he can fight you? Anything you have, you use it.

Q: Awo defended himself . I want your reaction to that. He argued that the Biafran soldiers (you were with them), were seizing food meant for the civilian population, that’s why the civilians were having kwashiorkor and soldiers were looking robust. How will you react to that?

A: O ma se oo (It is a pity!). I didn’t look robust anyway. If anything, civilians were donating food to the soldiers. It is not true. It is the civilians. They know they have a stake, and they said, lets maintain these soldiers so that they can fight for us. And where is the food anyway? In Biafra, Ojukwu introduced what we called land army because there was no food. So land army will say, yes we have this area now, it will be good for cultivating corn-if it is corn, plant.

I wouldn’t subscribe to the argument that soldiers were taking food from civilians, where is the food? The ones available it was like let us share, for instance which was an argument I put up on fuel price, fuel subsidy. I used to produce petrol for Biafra-I, Fola Oyewole. Yes. It is like brewing ogogoro, put it in something, fire it, and it would produce steam, pass it through cold water. So if you have a small river around your camp, about one third of the crude you put is petrol, the second third or there about is kerosene, without doing anything and the next is diesel, because we didn’t know what to do, we threw away the rest, but people who do know can tap it into something.

The point is the kerosene I got, I didn’t need. I gave to people of Owerri Nkwo Orji, the village where my camp was. Then I was chief so to say, I gave them anytime I boiled- petrol, kerosene, so everybody was looking after everybody so to say. If you snatched food from civilian, who do you want to control? Who do you want to command? It doesn’t make sense.

The 7 Untouchable People In Nigeria, Pastor Enoch Adeboye…

The 7 Untouchable People In Nigeria, Pastor Enoch Adeboye…adeboye

“There are 7 untouchable people in Nigeria who cannot be criticized no matter what they do.

“One has to be ready for a backlash before attempting to criticize any of them as they have a teeming population of supporters. Any person who criticises any of these seven men in Nigeria is attacked with vehemence by their supporters. Anybody who says anything uncomplimentary about any of these seven figures does so at his peril. So, who are they and why is it suicidal to criticise them?

See list below:

1.Sir Ahmadu Bello
2.Chief Obafemi Awolowo
3.Chief Chukwuemeka Odumegwu-Ojukwu
4.Dr Nnamdi Azikiwe
5.Pastor Enoch Adeboye
6.Bishop David Oyedepo
7.Muhammadu Buhari

First published by The Punch

Dede One Day: Family Releases Statement; Announces Burial Date

Dede One Day: Family Releases Statement; Announces Burial Datedede one day

Family of Late Comic Nollywood Actor Mr Onwuzurike Onyehidelam popularly Known as Dede One Day has released a statement announcing date and details of his Burial.

According to the release made available to IGBERE TV, Dede One will be laid to rest on Saturday 13th February 2016.

Christian wake keep will Hold on Friday 12th 2016 at Umuarusilam, Umuagwu Mbieri in Mbaitolu Local Government Area of Imo State.

It will be recalled that Dede One Day died why performing on stage last December in Abia State after a long time battle with high blood pressure.

Saturday, 9 January 2016

NNAMDI KANU LIVES IN LONDON; SAHARA REPORTERS LIED ABOUT AMMUNITION FOUND IN HIS HOUSE

EXPLOSIVE!!! NNAMDI KANU LIVES IN LONDON; SAHARA REPORTERS LIED ABOUT AMMUNITION FOUND IN HIS HOUSE

 

In my last column on this topic, I wrote and open letter to Sahara reporters, I submitted my investigative facts and thus no one could deny Sahara reporters effort as a paid media to nail innocent Kanu and perverse justice. I have only received praises for an effort on course to critically impact true and quality journalism from Nigerians.  Before I go on, I will like to set the records straight. Nnamdi Kanu has not killed anyone neither has anyone killed for him, Nnamdi Kanu’s IPOB have been law-abiding with praises from all angle even in the face of provocations and civilian massacre of her members. Nnamdi Kanu who lives in London, I wonder where Sahara reporters got search warrant to search his home and found ammo and guns they reported. There is a conspiracy to frame IPOB as a terrorist organization and cause undue character assassination of her leader Kanu.  Sahara reporters spearhead this with other paid Nigerian media houses.
 
Meanwhile, I commend them for their effort in nailing past regime which they perceived to be corrupt. However, a new regime has taken over- yet they still fight the past regime when much work is needed on this new regime. They have turned puppets and media warriors of Buhari, this is purely an unpatriotic act of persecution that must be called to order, being media prosecutor of a tyrant. They must face the reality and forfeit sheer hatred of Jonathan’s government because it has gone.

The hatred has not made Sahara reporters Buhari’s media warrior alone but persecutors and prosecutors, enforcer of illegality and character assassins. If Sahara reporters believe that dictatorship is the best for Nigeria hence does the dirty works of a dictator, by rebellious report on people opposed in one way or another to enable easy imprisonment or murder of them by TyrantBuhari. In light of this, they try to justify the dictatorial acts of Buhari through propaganda against Kanu, IPOB etc.

There have been gossip and persecution by Sahara reporters than journalism; I will kindly cite few gossips that really stroke the cord for this piece. Buhari vehemently disobeyed court orders, voiced his resolve to kill the judiciary and dictate who to release or not, who to kill or spare with rule of law trampled, this all in effort to murder or illegally imprison Kanu. Until Alison Madueke was reportedly arrested by Buhari, sahara who never reported her travel schedules floated one on how she intended to run away. Olisa metuh was arrested the news of his intended escape was floated by you.


Fami fani-kayode is on the list and hopefully you are preparing them for the gossip of his planned escape before arrest, kindly tell us where FFK is going to go now he has not been arrested. You deceive gullible people into hating their own; presenting victims of a dictator as though they were caught fleeing. To Fami Fani-kayode, Metuh and others, it’s important to note that Kanu was arrested for criticisms of Buhari and his government, they have enjoyed democracy all along but with the emergence of TyrantBuhari, there is need to seal lips or face tyranny and jail. It is a pity that the judiciary has been subdued that even court orders are secured for purpose of injustices. There is need to submit to this emerging dictatorship  because the press that should fight this war, now fine tune and promote tyranny, Sahara reporters has murdered journalism. There is significant threat on democracy from Buhari, court orders are not obeyed, the judiciary is being intimidated and subdued, the excessiveness of the executive is obvious and the constitution is violated. In the face of this evil, Sahara reporters have chosen to gossip about IPOB and how gun is being brought to IPOB meetings and how radio Biafra transmitter was mounted. One would begin to ask what journalism is all about to Sahara reporters. The gossip and unprofessionalism is alarming that it woke my sleeping pen.

Justice should be the banner of journalism and here I seek to teach them how to create a better world. Journalists have a lot before them, this moment in Nigeria, the need to avert this looming war and find solution to Biafra agitation, the need to reduce the tyranny of former dictator we thought had repented, the need to sustain democracy and rule of law Buhari is killing and the need to logically sue for peace through referendum or dialogue for a way forward. Disappointedly, Sahara reporters have failed woefully to be professional journalists, instead they have chosen to be gossipers and media warriors of a dictator, gossiping from one end to another in what holds no water neither contributes anything positive to the polity, It should be on record that this paid media firm has lost focus and now serves as a puppet media that promotes dictatorship that will neither profit anyone.

Buhari’s violation of the constitution of your country might seem like nothing because Nnamdi Kanu is seen as an enemy that should be illegally jailed or murdered. The bane of man is acceptance of evil that is upon another man, but with time, the tyrant will be fully fledged and the monster rearing out its ugly head now will devour everyone or lead everyone into untold anarchy.  Re-channel the time for gossip and persecution, put more time in securing lawful state, in pushing for the observance of rule of law that every man might be protected by law. IPOB is a lawful organization that has never killed or killed for, broke Guinness world record of hosting peaceful protest in most countries and have most disciplined members. Finally, when IPOB chooses to take up arms, the world will know and it shall never be done in secret. As of now, IPOB will continue to peacefully and lawfully agitate for Biafra until all peaceful options are exhausted. Save your gossip for the reality and save your irrelevant stories that divert attention instead face the war against the tyrant and disobedience of court orders which is rather unhealthy for the society and the world at large.

CRUDE OIL NOW SELLS FOR $27 MAY FALL TO $18 SOONER – OPEC

CRUDE OIL NOW SELLS FOR $27 MAY FALL TO $18 SOONER – OPEC

The Organisation of Petroleum Exporting Countries (OPEC) basket price for oil may be closer to the predicted $18 than thought, with the oil currently trading at $27.85 per barrel. According to OPEC secretariat calculations released on Friday, “the price of OPEC basket of thirteen crudes stood at 27.85 dollars a barrel on Thursday, compared with $29.71 the previous day”.

Brent crude was 45 cents lower at $33.78 a barrel after sliding during European trading to a low of $32.16, a level last seen in April 2004. US West Texas Intermediate (WTI) was initially down by 3.9% to $32.40, its lowest since the 2008 global economic crisis WTI but eventually settled down at $33.27 a barrel.
 
The global oversupply has continued to pull oil prices to new lows, leading to approximately 70 percent reduction in value than when the downturn began in June 2014. John Kilduff, founding partner at Again Capital, told CNBC on Monday that oil prices could go as low as $18 per barrel, following the Saudi-Iran tensions which fuelled soaring prices on Monday.
 
“I think you’re going to get as low as $18 and maybe get as high as $48. … It’s going to get really ugly,” he told CNBC. “The Iranians doubled down again, if that’s even possible, by saying that they could put 500,000 more barrels on the market within weeks after the sanctions get lifted.” With current rate of decline, oil prices may sink to $18 earlier than expected. Global oversupply is currently within 500,000 to 2 million barrels per day, and could reach 3 million if Iran lives up to its word to add up to one million bpd as soon as possible. In all of these, Nigeria’s budgetary benchmark for 2016 fiscal year, still stands at overly optimistic $38 per barrel. The new OPEC reference basket of crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).