Oil Glut Worsens As Opec Market Share Battle Begins – IEA
A global oil glut is building as OPEC kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant U.S. shale production, the International Energy Agency (IEA) said yesterday. The West’s energy watchdog said in a monthly report that although higher-than-expected oil demand was helping to ease the glut, growth in global oil consumption was far from spectacular.
Buhari’s Inauguration: Expect Low Key Ceremony – APC Transition Committee Chairman
The inauguration of the President-elect, General Muhammadu Buhari would be low key, the chairman, All Progressives Congress, APC Transition Committee Chairman, Chief Timipre Sylva said, yesterday. Speaking to journalists in Abuja, Sylva cited the dwindling economy as the reason for the decision.
$330,000 Fraud: Accused Failed EFCC’S Lie Detector Test – Witness
A polygraph expert, Mr Chinedum Enanya, yesterday told an Ikeja High Court that a court registrar, Oluronke Rosolu, who is facing trial for allegedly aiding a Lagos socialite, Fred Ajudua, to defraud Major- Gen Ishaya Bamaiyi (retd) of $330,000, was deceptive in her responses and her involvement in the crime when a “lie detector test” was carried out on her at the Economic and Financial Crimes Commission (EFCC).
Enanya, an operative attached to the Polygraph Unit of EFCC, told the court that he conducted the “lie detector test” on Rosolu on January 17, last year.
Lead Poisoning Kills 28 In Niger – FG
The Federal Government, yesterday, announced the outbreak of lead poisioning in some villages in Rafi Local Government Area of Niger State, which has claimed 28 lives.
Minister of State for Health, Fiddles Nwankwo, who briefed newsmen over the incident in Abuja yesterday, noted that most of those affected were children below five years.
He further said that a technical team confirmed the outbreak of lead poisoning in the area.
Nwankwo linked the outbreak to some new-found illegal mining sites, which contained more leaded ores but were often brought home for crushing and processing.
50 Year-Old Woman Miraculously Gives Birth To Twins After 14 Years Of Barreness
Mrs Roseline Akinsola, 50, on Monday delivered a set of twins after 14 years of childlessness. The News Agency of Nigeria (NAN) reports that Akinsola, who works at the Ekiti State Christian Pilgrims Board, was full of praises to God for answering her prayers.
The mother of two girls, who weighed 4.2kg and 2.3kg, advised other couples in need of children not to lose hope. In an interview with NAN, she expressed gratitude to God for giving her the children after several years.
Aregbesola Denies Son’s Arrest For Money Laundering
The allegation was clarified in a statement by the Director,Bureau of Communication & Strategy,Office of the Governor, Semiu Okanlawon.
“It has become pertinent to inform Nigerians and others generally that there is no iota of truth in the story being peddled around by some misguided elements claiming that a son of Governor Rauf Aregbesola of Osun, Kabir Aregbesola was arrested at the Muritala Muhammed International Airport in Lagos yesterday Tuesday May 12, 2015 with a huge sum of money in foreign currencies.
“We have discovered the the authors of the wicked and malicious lie are doggedly pursuing their agenda by engaging in an aggressive push for the falsehood to reach a larger population especially using the social media.
“The younger Aregbesola neither traveled anywhere nor had any encounter with any security personnel today. It is obvious the evil minds at work are out to drag an innocent young man’s name into this dirt in order to get at his father.
“Obviously, part of the game plans of those behind this orchestrated lie is to whip up sentiments especially among the workers in Osun whose salaries are being delayed as part of the fallout of the national revenue crisis and demonise the governor.
“Aregbesola has maintained a life of a moderate family man with a set of highly disciplined children who cannot be found wanting on issues of morals and societal values
“Members of the public are therefore urged to dismiss the falsehood because it is just another handiwork of mischievous minds.”
Meanwhile the Osun State chapter of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have issued a 14-day ultimatum to Governor Rauf Aregebsola to pay all outstanding salaries owed workers or risk a strike action.
Kate Henshaw Caught On Camera Kissing Ruggedman
Kate [has been] seen planting a kiss on the rapper’s cheeks.
The duo met at the exclusive listening party hosted by Tunde and Wunmi Obe at their mansion in Lagos over the weekend to launch their new album.
6 Die In Philadelphia Train Derailment
Rescue workers on Wednesday searched through twisted metal and debris after an Amtrak train derailed in Philadelphia, while investigators sought the cause of the accident that killed at least six people and injured scores of others.
According to Reuters, authorities said they did not know why the New York City-bound train carrying 243 people derailed at about 9:30 p.m. Tuesday (0130 GMT Wednesday), sending all seven cars and the engine off the track. One car was tossed upside down and three on their sides, and passengers and luggage were sent flying, survivors said.
British Navy Rescues 400 Migrants From The Sinking Overloaded Ships In The Mediterranean
THE British Navy has found and rescued over 400 migrants from the Mediterranean and has put them in Her Majesty Ship, Bulwark.
The Royal Navy’s flagship was alerted to four rubber dinghies, just 30-foot in length, in a ‘perilous state’ 40 miles off the coast of Libya.
Its passengers – including pregnant women and children – were expected to be taken directly to either mainland Italy or Sicily with a diplomatic source insisting there was ‘no chance’ they would be given asylum in Britain and all 400 would be registered in Italy.
The 400 rescued are said to be ‘just the tip of the iceberg’ as British defence sources said they expect hundreds, or potentially thousands, more migrants to be rescued in the coming weeks.
The latest rescue means the 19,000-tonne assault ship has been involved in the rescue of approximately 600 people since it was sent on search and rescue missions in the Mediterranean.
We Did Not Know We Killed So Many People During Lekki Bank Robbery – Suspected Robber
Four members of the armed robbery gang that invaded the Lekki, Lagos State branch of a new generation bank were on Wednesday paraded by the state police commissioner, Kayode Aderanti.
One of the leaders of the gang insisted that the gang had no intention of killing anybody until they saw some policemen in a van after the operation.
The arrested suspects included: Duke Odogbo, Lawrence Kinsley, Ebi Tosan and Ekelemo Kuete, who were all arrested at different locations by men of the Lagos State Police Command’s Special Anti Robbery Squad
The police commissioner, while speaking with journalists shortly before parading the armed robbers, said that the robbers went on a shooting spree after gaining entry into the banking hall.
The police chief said “the robbers went on rampage immediately they gained access into the banking hall and dispossessed members of the staff and customers of their valuables.”
Aderanti also disclosed the identities of the fallen policemen in the Lekki armed robbery operation as Inspector Bethel Agbobu, Odehohwo George and Imoisiu Ikechukwu.
Buhari, Osinbanjo Will Do Their Best For Nigeria – Blair
Former British Prime Minister, Mr. Tony Blair has expressed optimism that the President-elect, Major-Gen. Muhammadu Buhari (rtd) and his running mate, Prof. Yemi Osinbajo would live up to the expectations of Nigerians.
Also, the President-elect, yesterday said he would not interfere in the selection of principal officers of the National Assembly. In a statement by his media aide, Malam Garba Shehu, Buhari described as false, insinuations in the media that he was in support of particular persons to emerge as principal officers of the National Assembly.
Speaking with reporters after a closed door meeting with Buhari at the Defence House, Abuja, Blair said the peaceful and transparent manner the just concluded elections were held has projected Nigeria in positive light in the comity of nations of the world.
Bank Chief Predicts Rebound In Economy, Backs End To Subsidy
THE nation’s economy may have been billed for economic rebound in the second half of the year boosted by a projected rise in the price of crude oil that would be averaging $76 per barrel.
The Managing Director and Head of Africa Macro, Global Research, Standard Chartered Bank, Razia Khan, made the observation during a media interactive session with journalist on Nigerian economy, with focus on possible measures the incoming government may adopt in tackling current economic challenges.
According to Khan, the indication is high that the price of the commodity in the international market would record an upward trend, with some overshooting in fiscal projections for Nigeria in the second half of the year.
“We see oil prices averaging $76 per barrel over the course of this year and we think that this means that by the second half of the year, there is a likely hold that oil prices would be $80 to $90 per barrel.
“But that would only be short-lived. We shouldn’t discount the fact that this is a very deliberate strategy on the part of Saudi Arabia in particular, to move away from the price targeting.
“So, for countries like Nigeria, the important take away is that we have moved away from that world of triple digit oil prices and what we would see going forward is more like double digits oil prices scenario.
“We know about the extent to which Nigeria failed to capitalise properly in the boom years in terms of oil production when the oil prices were high. So, it is not going to be that easy, given the demands from the fiscal side, to rebuild fiscal buffers in a low oil price environment,” the bank chief said.
Lagos Gives Tanker Drivers 48 Hours To Leave Expressway
Piqued by the gridlock in Apapa and other parts of Lagos, the Lagos State Government has issued a 48- hour ultimatum to tanker drivers who parked within 300 meters to fuel depots in the state to leave, pending the availability of fuel for loading.
Hundreds of tankers have been parked on the Eko Bridge down to Apapa and on the Mile 2 Expressway queuing to load fuel that are not available, with commuters in the axis spending hours on a daily basis to get to their destinations.
Old Lady Shocks Real
Superb display! That was what Juventus (Old Lady) put up last night at the Bernabeu to send defending champions Real Madrid out of the UEFA champions league in the semi final.
Juventus will now face star studded Barcelona in the June 6 final in Berlin, Germany.
Real appeared to be on course early in the game after Ronaldo put it ahead with a 23rd minute penalty. Real was unlucky not to have scored a second goal in that first stanza of the match.
Juve however returned in the second half looking more organized and succeeded in getting the equalizer courtesy of Alvaro Morata who was also on target in the first leg. Morata it would be noted is a Madrid player that is on loan to Juventus.
Man Nabbed For Impersonating Senator Bola Tinubu
The police in Lagos has arrested one Emmanuel Eto for allegedly impersonating the National Chairman of the All Progressives Congress, Senator Bola Ahmed Tinubu. The 19 year old suspect who is an ND 2 student of Delta State Polytechnic, Oghara was said to have created a facebook account, using the name and the picture of Senator Tinubu, and defrauded scores of people, especially job seekers.
Daily Times learnt that Emmanuel’s stock in trade was to promise his victims blue chip jobs, especially at the Nigerian National Petroleum Company. He gave them a UBA account number to pay in a fee of N26,850 for application form and processing fee.
Explosions, Gunshots Rock Maiduguri, Borno State Capital
The report from Dailytimes has revealed that there were been sporadic gunshots and explosions at Maiduguri, the capital of Borno State on Wednesday evening.
3 Die After Consuming Ogogoro In Ondo
Despite the ban on the consumption of the local dry gin, otherwise known as Ogogoro in Ondo State, three persons who consumed the substance at Oka Moto Park, in Ondo town have died.
A source in the town, who wanted anonymity, told Daily Times on Wednesday that the deceased, a member of the National Union of Road Transport Workers (NURTW), a local electrician, and one other unknown worker in the motor park, were the three dead people.
The source disclosed that the trio complained bitterly of hurting stomach ache before they all became unconscious, after consuming the local dry gin.