Day: August 19, 2020

Fresh Economic Recession imminent in Nigeria before December, SPE warns

Efe Wellington

Global body of Petroleum Engineers bemoans country’s heavy dependence on fuel imports, says act worsens forex liquidity challenge, burdens economy Fresh economic recession is imminent in Nigeria before December, apex global body of petroleum engineers and oil industry’s stakeholders, Society of Petroleum Engineers (SPE), has warned. Chairman, SPE Nigeria Council, Engineer Joe Nwakwue, who gave this warning on the sideline of a press conference to herald the 2020 SPE Nigeria Energy Industry Transformation Summit (NEITS) in Lagos, bemoaned the country’s heavy dependence on fuel imports, an act, he said, is…

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CEO Rahamaniyya Oil, Abdulrahman jailed in UK as feud with Sahara Energy worsened

Tim Bauer

  Here are the details of the oil contract in Nigeria between Rahamaniyya and Sahara Energy Resources Limited that led to a 10-month jail term for the oil mogul in UK prison A United Kingdom Court has jailed the Chief Executive Officer of Rahamaniyya Oil and Gas Limited, Abdulrahman Bashir, after he was found guilty of breaching multiple orders of the court in a pending suit instituted by Sahara Energy Resources Limited. Justice Butcher of England and Wales High Court handed a 10 months jail sentence to the oil mogul.…

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World Bank begins annual fiscal rating for Nigeria’s Kwara State

Aliyu Aliyu

  A five-day technical sessions to ascertain Kwara State’s compliance with the FG/World Bank-inspired States Fiscal Transparency, Accountability, and Sustainability (SFTAS) began on Monday in Ilorin, with local officials interfacing with independent verification agents (IVAs) from the office of the Auditor General of the Federation. Kwara State Commissioner for Finance and Planning Florence Oyeyemi Olasumbo who, according to a statement made available to Platforms Africa, said this at the opening session, maintained that the objective of the SFTAS is to strengthen fiscal responsibility and openness in government’s spendings. “She said…

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Mali Crisis: President Keita Resigns After Country suffers Coup, Mutiny

Aliyu Aliyu

  President Ibrahim Boubacar Keïta has resigned his position as Mali President following a military coup in the West African country on Tuesday. It had been widely reported earlier that Malian President and his Prime Minister, Boubou Cissé, were “arrested” late Tuesday afternoon in Bamako by mutinous soldiers supporting the opposition. “We can tell you that the president and prime ministers are under our control. We arrested them at his home ” (at the home of the Head of State), said a soldier, who requested anonymity. “IBK (President Keita) and his Prime Minister are in…

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