Saturday, 9 January 2016

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).


Biafra: Kanu Sick and Denied Access To Medical Care – Brother

A brother to the detained director of Radio Biafra, Nnamdi Kanu on Friday told IGBERETV that his brother is currently sick.
Prince Kanu said he got various reports that his brother has been sick and is being denied access to any form of medical care by the State Security Service (SSS).
Director of Radio Biafra, Nnamdi Kanu flanked by siblings and his mother, Ugoeze Nnenne Kanu in court

“Right now, as I speak to you, Nnamdi Kanu is very very sick and he has been denied medical access, that is the information reaching me now,” Prince said.

Prince added: “We have been denied access to see him, his lawyer has also been denied access to him.”

Since his arrival into Nigerian on October 14, 2015, Kanu has remained under the custody of the SSS over allegations of terrorism, terrorism funding, possession of arms and the assisting in the management of an unlawful society.

Although several courts in Abuja has given three different orders for his release, the SSS has failed to obey such orders.

Kanu, on Wednesday, December 23 refused to take his plea before Justice Ahmed Mohammed of the Federal High Court.

He told the court that he lacked confidence in the court and would not sacrifice due process of law for speedy process over the principle of natural process on the alter of a speedy release.

Kanu said he would prefer to remain in detention than to subject himself to a trail that will only amount to a perversion of injustice.

“Your lordship, previous court rulings have been given by courts of competent jurisdiction in this country, Nigeria which were not carried out by the DSS,” Kanu had said.

To Kanu’s objection, the judge stood down from the case and told the court that he will be remitting the case file to the chief judge of the court for reassignment.

Checks by our correspondents also revealed that the case is yet to be assigned to any court.

Also, recently during the presidential media chat on Wednesday, December 30, President Muhammadu Buhari gave reasons why Kanu and the former national security adviser, Sambo Dasuki will not be released despite being admitted to bail by the courts.

Buhari told journalists in the state house these individuals have committed heinous crimes against Nigeria and granting freedom will amount to jumping bail.

“If you see the atrocities these people committed against this country, we can’t allow them to jump bail,” Buhari had said.

Buhari added that despite having two passports – Nigerian and British – Kanu came into Nigeria without a passport.

UNOFFICIAL RESULTS FROM BAYELSA POLL : PDP IN EARLY LEAD

The results of the re-run Bayelsa state governorship election is trickling in bit by bit and IGBERETV will be monitoring the situation and bring the results live.
Voters exercising their franchise in Bayelsa polls today

Elections in the state is expected to take place in 17 wards & 104 communities in Southern Ijaw local government area, where there are 425 polling units. The remaining 101 polling units are scattered across the state.

Our correspondent in the state reports that voting has been concluded in some polling units and collation of results is currently ongoing.

The results we have received so far are below:

18.30
Ward 10 unit 2
Ammasomma
APC – 30
Pdp – 233
Ogbia ward 2 unit 015
Apc – 27
Pdp – 55
Dpc- 2‎
Southern Ijaw Lga
‎Ward,10 unit 4
Constituency 1
APC – 21
Pdp – 97
Sdp – 1
Voided votes 3

17.43
WARD 10, UNIT 16
Presiding Officer – Linda Nwagbu
Accredited Voters-113
No of Valid Votes-112
Invalid votes-1
PDP-81
APC-29
DPP-1
PDC-1

WARD 11, UNIT 7
presiding Officer-Victor Efrum
Total No of Reg Voters-402
Accredited No of Voters-257
Invalid-3
PDP-237
APC-17

WARD 11,UNIT 1
Presiding Officer-Ezekiel
Accredited Voters-66
PDP-49
APC-17

WARD 11,UNIT 8
Accredited No voters-156
Invalid votes-3
PDP-135
APC-15
PDM-2
LP-1

WARD 10, UNIT 15
Presiding Officer-Uwandu Anthony
Accredited Voters-96
No of Valid Vote-134
Rejected Votes-9
PDP-101
APC-33

WARD 10, UNIT 7
PDP-133 Votes
APC-24 Votes

WARD 9, UNIT 13
Presiding Officer-Omenogor Elvis Onyeka
PDP-66 Votes
APC-28 Votes
DPC-3
PDM-1
Total No of Voters-415
Accredited voters-112
Invalid votes 13

WARD 10,UNIT 14
Presiding Officer- Yakubu Bivan
Accredited Voters-150
Invalid Votes-12
PDP-119
APC-27
PDM-1
PPP-1

WARD 9, UNIT 5
Presiding Officer-Ajoku Christy
Accredited Voters-94
PDP-60
APC-29
DPC-1

WARD 11,UNIT 5
Presiding Officer- Grace Kazum
Accredited No of voters-77
PDP-47
APC-30

WARD 9, UNIT 21
Presiding Officer-Nkamdi Cynthia
Accredited Voters-187
PDP-151
APC-25
DPC-1
APA-1
PPA-1
Invalid votes-7

WARD 11, UNIT 16
Accredited Voters-85
Invalid votes-9
PDP-64 Votes
APC-12 Votes

WARD11,UNIT 23
Presiding officer-Umujeme Tony
Accredited No of Votes-84
Rejected-8
Valid votes-76
PDP-57
APC-18
MPPP-1

WARD 9, UNIT 1
Presiding Officer-Nwachukwuwu Happiness
Accredited voters-115
Invalid votes-8
Registered voters-290
PDP-94
APC-12
ADC-1

14.41
Unit 5, Ward 10, Yenagoa
APC 52
PDP 90
Counting of votes (PHOTO CREDIT: Michael Obasa)

14.39
Oyeke Open Space, Unit 9, Ward 10,Yenegoa LGA
APC 78
PDP 61
Voided votes 2
Total votes 147

Disclaimer: Please note that the results below are not final; the information may be updated any time.
This is a developing story…

Earlier today, armed thugs caused havoc in Ekeremor town, Ekeremor local government area bringing all electoral activities to a halt.

Also, in Southern Ijaw local government, precisely in Amassoma Grammar School, men of the Joint Task Force have repelled efforts by armed political thugs who attempted to hijack electoral materials meant for some units in the ward.

What You Don’t Know About The Legendary ALABUKUN POWDER And Its Maker (Photos)

What You Don’t Know About The Legendary ALABUKUN POWDER And Its Maker (Photos)
Alabukun

Jacob Sogboyega Odulate, the Blessed Jacob, sat at the work table in his laboratory, writing the notes which contained the formula for what would ultimately be known as his famous patented medicine, Alabukun Powder.

This was in the year 1918. It was early in the evening of another hectic day at his place of work, a functional combination of office, consulting room and laboratory-cum workshop. His single minded pursuit of the goal of establishing an indigenous medical/pharmaceutical brand was legendary. He had displayed the same purposeful determination when at the age of 14, he decided to uproot himself from his ancestral town of Ikorodu and he had embarked on an exploratory journey which took him three months on foot to establish a domestic and commercial base in Abeokuta. His very modest, but cherished “headquarters” was built in the Sapon area of Abeokuta, a mere walking distance from the site of his future three-storey landmark home in Ijemo Agbadu.

With the day’s work finished, he supervised the ritualistic tidying-up of the office, a task in which some of his children were willing and excited participants.

Soon it would be time to join his friends for a few games at tennis at the Abeokuta Tennis Club, and then go off to his home to join his wives and children for dinner. His face, which could sometimes bear the disconcertingly combined countenance of both a firm disciplinarian and a mirthful father in equal measure, was today aglow with joy. He, a black man and member of the Yoruba ethnic group had triumphed against the seemingly insurmountable obstacles that the British colonial authorities had placed in the path of ambitious “natives”. He had penetrated the fortress of British-dominated commercial enterprise in nascent Nigeria, to become one of a very small group of Nigerian entrepreneurs in the colony. He had reasons to smile.

From the modest, but gradually escalating proceeds of the sale of Alabukun Powder, Alabukun Mentholine and other locally made products – all produced by him – the Blessed Jacob was able to realize his overarching desire, which was to underwrite all the expenses associated with sending his children to the land of the erstwhile colonial rulers, Britain, to further their education. One after the other, his offspring went off to study at Durham, Newcastle, USA and London to qualify as educationists, medical doctors, lawyers and engineers. They returned to Nigeria to join the pool of highly educated and successful professionals for which Abeokuta has been particularly famed in Nigeria history. Alabukun’s offspring have prospered and have made immense contributions to Yorubaland and to Nigeria in their various professions and spheres of endeavour.

The enduring success of the Alabukun brand is now interwoven into the fabric of modern Nigeria medical history. The Alabukun Powder in particular is displayed and sold in thousands of pharmacies, markets and roadside stalls all over Nigeria. In many states in Nigeria, Alabukun powder is considered to be the obligatory cure-all for almost every ailment. In neighbouring countries such as Benin Republic, Ghana and Cameroon, the eye-catching Alabukun brand is to be seen advertised everywhere. Alabukun products are sold in several towns and cities in the USA, the UK, in Europe, Brazil, Jamaica, and yes, even as far away as China. You can buy Alabukun products on-line, off-line, under-bridges and over-expressways.

Just last year, 2012, the descendants and family of the Blessed Jacob marked and celebrated the 50th anniversary of the passing on of this towering man. In a manner in which he would have been proud, the celebrations were modest and without fanfare. None of the governors of the various states in South West Nigeria in which the Blessed Jacob made huge contributions was present. Both Ogun State and Lagos State were in no way officially represented at this significant anniversary. However, we owe nobody any grudge because for a particular reason the family had decided to make the anniversary a low-key affair.

Happily, his children, his grandchildren, great grand-children and great-great grandchildren as well as the descendants and relations of the multitudes of his beneficiaries, patients, friends and employees, were all there to celebrate the history of this under-appreciated icon.

And so, one year after this 50th anniversary, what are the physical edifices and buildings that can serve as a present and future testimony to his legacy, to his industriousness, to his trailblazing entrepreneurship?
Even then a befitting memorial, indeed, a legacy, solid, towering structure such as a house has severally suffered from uncaring and insensitive official arm.

First to go was the magnificent family residence in Ijemo Agbadu with its unique granite-hued frontage and castle-like grounds which for more than half a century housed living quarters for family and friends alike – DEMOLISHED!

Secondly, in 2013 the building (the first two-level building in Abeokuta, Sapon) the original birthplace and home of the Alabukun brand was – DEMOLISHED!!

Thirdly, the storey-building that the Blessed Jacob built on the east side of Ikorodu Road and which for decades was the most significant landmark on that road before one reached the landmark Ikorodu Roundabout was also pitifully – DEMOLISHED!!!

This sad history of willful disregard and disrespect for the legacies of those who came before us and who contributed so much to the nation that we today call Nigeria is abundantly exemplified in the tragic fate of Alabukun’s properties. We, the descendants of the glorious Blessed Jacob are so grateful and proud of his life. The education that he bestowed upon us, the wonderful example he showed in his personal and business life, his immense generosity and kindness of spirit, these are what we and our own descendants will never forget.

For those who find themselves in power today, and for those who were in power when all of the destructive acts described above were committed, we have only this to say:

The act of destruction of the physical properties of those who did so much to make our nation great can never desecrate their names or their legacies. It is those who permit such destruction who should ask themselves this: “Is this the way to honour the past? Are we proud to announce to the world that we allowed history to be corrupted and eroded like this?”

Finally, sad as we may feel about this story of demolition as chronicled above, we, the descendants, especially his children, are proud and grateful to God that our magnificent Patriarch, Papa Chief Jacob Sogboyega Odulate – ALABUKUN – The Blessed Jacob – left us a legacy that can never be forgotten in the history of Nigeria. In life and in death he stands up in the development of Nigeria.

What a man! What a hero! What a legacy!

For more information on the life of this great man, I refer you to the book “Reaching for the Stars” an autobiography of one of his children – Chief Folake Solanke SAN.

Nnamdi Kanu: See What Buhari Told Ojukwu’s Mother in A 1984 Cartoon

By: Amadi  Okoro Amadi

In February 1984, one of those clamped in jail by the Buhari military administration was the late Igbo leader, Emeka Odumegwu Ojukwu. This cartoon of that era depicts the mood of that moment over the matter.

For crying out loud, Ojukwu wasn’t even part of the government that Buhari outstaged in a coup – which was Shagari’s government by the way – so what formed the basis of Ojukwu’s arrest? Corruption?

When you undertake a wholistic study of Nigeria’s political history, you’ll see that the same hate for Igbos that drove Buhari against Ojukwu in 1984 is what drives him against Kanu today.
Imagine arresting Ojukwu who was never part of the government!

PMB Ojukwu
Amadi writes from Port harcourt

The Strong Men Behind Buhari (Photos)

The Strong Men Behind Buhari (Photos) PMB TweetAs one who presides over the most populous country in Africa, President Muhammadu Buhari is no doubt an influential man. It is not out of place that millions of people within and outside the country might want to get his attention for one favour or the other. Expectedly, not many people will get that needed access to him.
There are, however, a few individuals who are very close to the President and, hence, wield huge influence in their own rights. These are apart from members of his immediate family that consists of the First Lady (sorry, the President’s wife), Hajia Aisha Buhari, and the children.


As far as the Buhari Presidency is concerned, one of the men that can be said to be very close to the President so far is Vice President Yemi Osinbajo, who currently supervises the nation’s economy. Osinbajo is always at the service of the President. He represents him very often both within and outside the country. The relationship between the two top government officials so far is very cordial. In fact, I don’t think Osinbajo’s loyalty to the President is to be questioned.

Another man that is very close to the President is his Chief of Staff, Abba Kyari. The closeness may be due to the position he currently occupies, but the lesson must not be lost that something must have qualified him for that appointment.
Since his assumption of office, Kyari, who has a trademark of always wearing white ‘agbada’ and wine cap, has not been far from the President. He is in charge of arranging the President’s day-to-day activities. Despite that Kyari’s office is a bit far from the President’s (about 200metres), the COS can trek that distance to and fro more than six times in a day either to consult with Buhari or attend one meeting or the other.
While making his way to the President’s office or back to his office, he will pass through the corridor of the Briefing Room, where journalists always hang out to search for scoops. No matter how busy he is, he will pause a bit to crack jokes with the reporters and quickly leave as fast as possible. Kyari is no doubt one of the President’s men. There is no way those who wield influence in the Villa for now will be identified without mentioning Governor Nasir El-Rufai of Kaduna State. I can even state without fear of contradiction that he is so far the most frequent state governor in the Villa. If he is not visiting the President, El-Rufai will be consulting with Vice President Osinbajo. I am aware that he was instrumental to some of the appointments so far made by the President. He wields big influence that is not commensurate to his small stature.

Governor Adams Oshiomhole of Edo State also wields enormous influence in the Villa. He is also a regular visitor, coming closely behindEl-Rufai. Most times, after consulting with Buhari, Oshiomhole will brief State House correspondents. His interviews had always been focusing on how officials of the last administration allegedly stole the nation blind.
Since the wind of change that blew through the Villa during the last presidential election, many other things have changed. The change permeated through the seat of power from who occupies the President’s seat to ministers and even Villa guests. The hitherto known faces have given way for the new ones.
By the time Buhari inaugurated his cabinet, most of his 36 ministers are those who are entering the Villa for the first time. A few of them who had been here before had either done so because of the public offices they occupied before or because they belonged to the then-ruling Peoples Democratic Party before they parted ways with others under that green-white-red umbrella.
There is, however, someone in the present cabinet that keeps reminding us of one of the ministers that served under former President Goodluck Jonathan. That person is the Minister of Finance, Mrs. Kemi Adeosun. She keeps reminding us of Jonathan’s Minister of Communication Technology, Mrs. Omobola Johnson.
Both ladies look alike in stature, and also in the way they walk and talk (with foreign accent). Incidentally, both of them are Yoruba ladies, though from different states. While Johnson is from Ondo State, Adeosun is from Ogun State.
Unlike her predecessor in office, Dr. Ngozi Okonjo-Iweala, whose trademark is her headgear that she places delicately on her head as if it will fall down with a slight push, Adeosun rarely tie headgears. In fact, I heard her telling one of her female colleagues recently that she resorted to holding her headgear after many failed attempts to tie it correctly. The female minister collected the headgear from her, carefully folded it and placed it on her (Adeosun’s ) shoulder. Those who specialise in tying headgears for fees may find a good business in her.

Since their inauguration, Adeosun had the first opportunity to address State House correspondents on Tuesday, albeit, briefly. It was at the press conference addressed by the Managing Director of the International Monetary Fund, Christine Lagarde, shortly after a closed-door meeting she had with Buhari. The lot fell on Adeosun to introduce Lagarde to journalists at the Briefing Room of the Council Chamber.
The following day, however, she had more time to spend with reporters. She had the opportunity of briefing journalists of the outcome of the Federal Executive Council meeting presided over by Buhari. The venue was the same. She was introduced by the Minister of Information and Culture, Alhaji Lai Mohammed.
In my opinion, these are the prominent people mentioned above that can really make “CHANGE” to take its effectiveness.

BREAKING! Bayelsa Decides: Heavy Shooting In Ekeremor, Nembe; Scores Injured; Election Suspended

Sporadic gunshots is on going in Ekeremor town, Ekeremor Local Government.

Security already overtaken by armed thugs thereby leading to stoppage of election in the town.

Also in Amassoma Grammar School, in Southern Ijaw local government, there has been a standoff between members of the Joint Task Force JTF and political thugs who attempted to hijack materials meant for some units in the ward.

Four of the armed thugs now arrested and their operational vehicle seized.