NNPC spends N103.4 billion to protect oil pipelines in one year

Corporation loses N57.71b to vandalism

• 2,832 vandalised points recorded in 13 months, 400 in 2016

• Ghana may dump Nigeria, looks
elsewhere for gas supply
It may be virtually impossible for the

Nigerian National Petroleum Corporation

(NNPC) to operate its refineries, crude oil and products pipelines nationwide profitably, unless government takes drastic measures to eliminate all acts of pipeline vandalism, according to an investigation by TheGuardian.

This is coming in the light of a report titled “Report on Improving Local Refining

Capacity in Nigeria”, prepared by the

Managing Director, Matwims Consult Limited, Mark Tubotein, which reveals that the repeated repairs by Petroleum Pipelines and Marketing Company (PPMC) after each act of vandalism for several years calls to question the integrity of existing pipelines that are

over 35 years in operation without adequate maintenance on them.

Before this report, there were revelations by the NNPC that the huge spending by

government for the purpose of protecting

Nigeria’s vital petroleum products’ pipelines seemed not to be having any positive effects on the security of the country’s oil and gas resources after all.

This is because despite spending N103.4

billion for pipeline repairs and management between January and December 2015, data from the NNPC shows that the Federal Government actually recorded crude oil and

product losses of N57.71 billion to pipeline vandalism.

According to Tubotein, the repeated repairs by the Petroleum Pipelines and Marketing Company (PPMC) after each act of vandalism for several years call to question the integrity of existing pipelines that are over 35 years of operation without adequate maintenance on

them.

He noted that reports from the NNPC reveal that as from January to August 2015 alone,

there have been over 1,824 cases of line

breaks on PPMC pipelines. “The corporation at least, spends billions of naira each year to

maintain and secure pipelines with the

assistance of security personnel and

community personnel in the Niger Delta.

With this level of financial expenditure on

dilapidated pipelines coupled with low

capacity utilisation of local refineries, there is no way the corporation can remain profitable.”

He said since the transportation of products through pipelines cost less than the alternative modes, viz, rail, road and sea, “providing marketing companies the access of pipelines for a reasonable fee is essential to protect the consumer interests. All product

pipelines need to be treated as utilities and ‘common carrier principle’ made applicable to all of them. The tariff for the usage of pipelines may be fixed by the regulatory body such as Department of Petroleum Resources (DPR).”

Due to the series of pipeline vandalism,

Nigeria has suffered setbacks in meeting its gas obligation to Ghana and other West African countries through the West Africa Gas Pipeline Company. It was learnt that Ghana has already started making alternative

arrangements to get gas in order to provide regular electricity, which has been epileptic for several months due to the deficit in Nigeria’s supply.

Specifically, NNPC disclosed that a total of 2,832 vandalised points were recorded

between February 2015 and January 2016.

According to data from the corporation, the Mosimi pipeline recorded 103 breaks in February last year; 60 breaks in March; 101 breaks in April; 146 breaks in June; 78 in July; 79 in August; 44 in September; 66 in October; 57 in November; 93 in December; and in January this year, it recorded 59 breaks.

In January alone, Kaduna and Port- Harcourt recorded 59 and 247 breaks respectively,

while Warri recorded 32 incidents.

The government initially hired community

members as guards, but then brought in the security personnel when there was no

improvement with the local guards. Not even the intervention of the security personnel could stop the unrepentant vandals.

It was learnt that NNPC then adopted a new strategy in 2011, reportedly signing pipeline protection contracts worth at least $39.5

million a year. Government had touted the deals as effective tools in the fight against oil theft, yet NNPC’s own data show pipeline losses actually went up after the new contracts started.

In the last five years, things only appeared to get worse. In the Niger Delta, as many as 5,280 oil wells are linked by 7,000 kilometres of pipelines and are vulnerable to attacks by organised gangs.

The NNPC said in its report that pipeline

vandalism, refinery capacity utilisation which is below commercial threshold due to prolonged Turn Around Maintenance (TAM) issues, and products losses, had continued to cost the corporation huge amounts of money.

Although the NNPC has not released the

January 2016 claimable Pipeline Repairs/Management Cost and Crude and Product Losses due to vandalised pipelines, The Guardian learnt that the country has already recorded over 400 breaches on pipelines between January and March.

The corporation said that comprehensive

reform of the pipeline security situation

would unlock several industry upsides which include improved upstream oil production due to reduced pipeline disruptions, improved refinery utilisation due to increased crude oil feed from restored pipelines, and reduction of crude oil and product losses.

The Minister of State for Petroleum, Dr

Emmanuel Kachikwu, had expressed the

determination of the corporation to eradicate oil theft and pipeline vandalism in the next eight months.

The NNPC boss said the measure was part of efforts to enhance transparency and accountability in the oil and gas industry, to boost production capacity of the corporation.

According to him, oil theft and pipeline

vandalism have greatly affected the revenue generation and image of Nigeria at the international arena.

He disclosed that as part of ways to

find a lasting solution to the lingering oil

theft, NNPC would establish a company that would be saddled with the responsibility of securing pipelines in the country.

Text Culled and edited from The Guardian

http://creekinfong.blogspot.com/2016/03/corporation-loses-n57.html

Muslim shopkeeper who wrote loving Easter posts stabbed to death in ‘religiously prejudiced’ attack

A Scottish-Muslim shopkeeper was violently stabbed to death in Glasgow in front of eyewitnesses. The brutal attack took place hours after he wrote a heartfelt Easter message of peace and tolerance to Christians.

Tributes poured in from the local community in

Glasgow and around the world for Asad Shah, who was a popular figure in the city’s multicultural south-side.

Scotland’s First Minister Nicola Sturgeon

attended a vigil to pay tribute to the fun-loving shopkeeper.

A 32-year-old suspect has been arrested in connection with the attack, which took place around 21:00 local time on Thursday. While the suspect’s name has not been released, Scottish police have said that both the attacker and victim

were Muslim, BBC reported.

“A full investigation is under way to establish the circumstances surrounding the death, which is being treated as religiously prejudiced,” Police

Scotland said.

An eyewitness reported seeing a man violently stamp on Shah’s head outside his shop.

The shopkeeper was taken to Queen Elizabeth University Hospital in Glasgow where he was pronounced dead on arrival.

In his last Facebook post before his death, the victim wrote: “Good Friday and a very Happy

Easter, especially to my beloved Christian nation.

Let’s follow the real footstep of beloved holy Jesus Christ and get the real success in both worlds.”

A proud Scotsman, he was a devout Ahmadi Muslim who regularly posted videos from his shop with messages of peace and unity.

http://creekinfong.blogspot.com/2016/03/muslim-shopkeeper-who-wrote-loving.html

5 Things To Know Before Buying Stocks in Nigeria

There is a saying that “investing in stock is easy, but investing successfully is difficult.” Investors, particularly those who lack basic capital market

knowledge, reportedly end up on the losing end of bargains every year. This is not because there is a lack of profit-taking opportunities (there is an abundance of opportunity), but because investors often fail to gather the right information before

sinking their fortunes into the stock market.

To avoid such pitfalls, here are five things you should know before delving in the world of stocks.

1. Why the stock market?The first question fresh investors should ask is why am I choosing to put my money in stocks?

The stock market comes with healthy risks and attractive rewards, both for short and long term players. Investors are said to prefer the stock market because the offer the greatest returns in the short term. But stocks are also very volatile as they are driven by speculations regarding market activities, the value sometimes can fall below the

price you purchased. Hence chasing stocks of companies with good reputation is often your best bet.

2. Hiring a BrokerNow that you understand a bit of what you going into, the next step is to employ the services of a stock broker. A broker, or brokerage firm, is a licensed to access the stock exchange. Once you

have hired one, he or she will receive orders from you (to sell or buy stocks) and process on the exchange. They also help provide guidance on which company’s shares you should consider

purchasing or relinquishing.

3. Building your portfolioGiven that the market is littered with risks and rewards, it is important to keep the word “balance” in mind when building your portfolio. Ensure you have a mix of highflyers (stocks with high growth

rate), slow-and-steady (shares with high prices but steady yields) and a few gamblers (those that can either plummet or soar quickly). This allows you

manage enjoy the gains of investing in stocks as well as absorb unusual shocks.

4. Making MoneyMost people invest to make money, and it’s no different for those who put their money in the stock market. The capital offers two key ways of making

money: the first is by receiving dividends from a company whose shares you acquired. Dividends are small payments made to shareholders by

the investee company. It is done mostly when the company declares a profit for an operating year.

Another way is to cash-in on your shares by selling them. You can turn in a profit when you sell at a higher price than you initially purchased them.

5. AlternativesNo doubt stocks are very attractive to investors, but there are other alternatives that are also very rewarding. Bonds, mutual funds, and treasury bills

are interesting investment prospects to explore.

Some though take a longer time to germinate provide higher and safer yields than stocks.

Investing is a great way to build wealth and enjoy a stable financial status, so you can try other investment products like bonds, mutual funds, treasury instruments and other money market

funds.

http://creekinfong.blogspot.com/2016/03/5-things-to-know-before-buying-stocks.html

Why Instagram Is A Big Deal For Your Business

You must have heard that Instagram is the hottest

trend in social media for businesses. What you do not know is that it is not just a photo sharing app.

Instagram has redefined the way in which we view and share photos to create awareness, association and engagement. There is a lot to gain from having

your business on the platform. Researchers have found out that visuals increase people’s willingness to pay attention to a piece of content and are more likely to remember it than those with only text.No wonder 85% of the world’s top brands are live on Instagram, as shown in a report by Simply Measured. People connect better with photo images and videos than they do with text. Why do you think Facebook spent such a huge fortune on buying Instagram? From a small start-up in 2010 to having

over 300 million active users around the world today, it has become one of the most influential social media tools today.Here are four reasons why you need to put your business on Instagram:

1. Create a brand personality for your business

A brand personality is a set of human attributes a customer can relate to a brand. Instagram allows you to share aspects of your business that

customers will not ordinarily see and these customers love to follow up on day-to-day routines of a business that can tell them certain things about

that brand. Before you know it, your customers become attached to your brand and customer loyalty is generated.

2. Engage your audience

Instagram provides a platform for businesses to tell their stories using visuals and this is what social

media users crave for. They want to be able to share their reactions and experiences with brands they follow. From photos and short videos showing

your business behind the scenes to posting infographics, image quotes, sale promotions and organising competitions, you are able to engage your audience and get them interested in your brand. A report from Forrester showed that

Instagram users have a higher engagement rate of 4.21%, which is 58 times more engagement per

follower on Facebook and 120 times on Twitter.

This simply means that Instagram users are more

likely to like, comment and repost on Instagram

than to Facebook and Twitter.

3. Know your customers

By engaging your audience, you get to develop a more intimate and personal knowledge of your customers. You can interact with them and share

their experiences, and from their reactions and comments, you are able to keep up with trends and what they expect from you as a brand.

4. Your competitors are using it

If your competitors are using it, then why shouldn’t you? As a business, it is important to keep up with

trends and adapt fast as well as you can so you are not left hanging. This is a great way to check out your competitor’s audience, how they relate with

them and how you can also engage them yourself.

These are how top brands are engaging their audience on Instagram and how you can learn from them:

The whole purpose of your business is to market your products to compel a change in people’s behaviour towards purchasing from you and where

else should you be other than where people are spending a lot of time networking and connecting.

Now is the time to pay attention and move your business a step higher by putting it on Instagram.

Don’t forget to tag us in your posts when you do so.

Source 635.gtbank.com

http://creekinfong.blogspot.com/2016/03/why-instagram-is-big-deal-for-your.html

Senate PDP Caucus Asks INEC To Release Results Of Rivers Rerun

The Peoples Democratic Party (PDP) caucus in the Senate on Thursday demanded for the release of the results last Saturday’s rerun elections in River

State by the Independent National Electoral Commission (INEC).

Rising from a meeting held in Abuja, the caucus asked the electoral commission to release all the results collated in polling units, wards and local

government areas of the state at the weekend.

According to a communique issued at the end of the meeting and signed by Senate Minority Leader, Godswill Akpabio, the caucus resolved to visit the

state Governor, Nyesom Wike, and the families of those who lost their lives in the rerun polls. It also condemned the violence which marred the conduct

of the polls.

The caucus called on President Muhammadu Buhari to support the constitution of a commission

of inquiry to investigate the violence which accompanied the rerun elections in the state with a view to bringing perpetrators to justice.

The communique which said the meeting was attended by the National Chairman of PDP, Ali Modu Sheriff, also asked INEC to conduct the rerun election ordered in Imo North senatorial district, noting that the 90 days ordered by the court for the

conduct of the election has expired.

It also advised the commission to re-schedule the rerun election in Kogi East senatorial district just as it passed vote of confidence on Sheriff whom it said briefed the caucus on the forthcoming

congresses and national convention of the party as scheduled.

The communique read: “The caucus noted the reports from the just concluded rerun elections in the state particularly the declaration of results in units, wards and local government area collation

centres and resolved accordingly:

That lNEC should as a matter of urgency release the outstanding results in the state re run elections particularly results that were collated from all polling units/wards/local government areas in their

possession with immediate effect.

“The caucus reviewed the decision of NEC of our party, PDP, and agreed that the timetable of the party congresses and national convention remains sacrosanct. This was reiterated by the national

chairman of the party, who attended the caucus and briefed members accordingly.

“The caucus agreed to send a delegation to visit Rivers State with a view to congratulating Wike on the electoral victories, and also to commiserate

with the wounded and families of people who lost their loved ones in the re run elections in the state particularly the youth corps member who was slain

in the imbroglio.

The caucus called on lNEC to as a matter of urgency, reschedule the lmo North re-run senatorial election without further delay as the 90 days ordered by the court had since lapsed.

“It also called on lNEC to reschedule similar rerun elections in Anambra Central and Kogi East senatorial districts.

The caucus condemns in its totality the acts of violence perpetrated by enemies

of democracy during the rerun elections in the state.

A vote of confidence was passed on the

national chairman of the party as well as the leadership of the eight Senate PDP caucus of the National Assembly.

“The caucus called on President Buhari to support the ongoing commission of enquiry investigating the killings in the Rivers State rerun elections with

a view to bringing the perpetrators of the violence/ killings to justice.

The caucus urged the political

class to exhibit tolerance for multi-party

democracy in the nation to discourage political impunity in all ramifications.”

However. the Rivers State chapter of All

Progressives Congress (APC) has apologised to the management of National Youth Service Corps

(NYSC) for the death of a corps member, Samuel Dumebi Okonta.

The Director General of Nigerian Maritime Administration and Safety Agency (NIMASA) and gubernatorial candidate of the party in the 2015

general election, Dakuku Peterside, rendered the apology yesterday in Abuja while leading other party leaders on a condolence visit to the national

secretariat of NYSC.

Dakuku said it was unfortunate that the state had been in the news for negative reasons, adding that it was worst of that a youth corps member was killed during an election in the state.

Okonta, who hailed from Illah community in Idemili North Local Government Area of Delta State, was killed during last Saturday’s rerun elections in the

state.

The deceased served as an Assistant Presiding

Officer (APO II) at Ukpeliede Town Hall, Ward 6, Unit 5 in Ahoada West Local Government Area.

“We have come as a delegation of APC Rivers State chapter to pay our condolence to NYSC on the loss of a patriotic young man who offered to

serve his fatherland, instead of being rewarded, he has been sent to early grave.

He died in the course of national assignment in the

state, I am not sure he bargained for early death.

“We are here to pay our condolence that the death

of a young man who had a great dream, who was promising, who spent the best part of his life acquiring education hoping to contribute his own quota to the development of our country, instead of

being given that opportunity, today he has been killed at the course of national assignment. We are saddened that it happened in our state,” Dakuku

lamented.

He noted that Nigeria owes the families of corps members who had died in the course of conducting election in the country.

“We think that Nigeria owes Okonta a lot and all

those who were injured in the course of election in

state. Rivers is not only the state in the country,

we don’t know why our own case will be peculiar, we feel very bad, we feel saddened, and on behalf

of all our people, we want to say sorry to the entire family of the NYSC.

“We appreciate that you lost one of your own but

first he is a citizen of Nigeria before enrolling in the youth service corps and so it is not your loss alone, it is our collective loss,” the NIMASA DG

said.

He, however, pledged that the party would support the family of slain corps member in all ways.

The Director-General of NYSC, Brigadier General

Johnson Olawumi, who was represented by Director of Corps Welfare and Inspectorate, Mrs. Rhoda Kwaki, noted that Okonta’s death was a huge loss but prayed against any re-occurrence.

Culled from Thisday Newspaper

http://creekinfong.blogspot.com/2016/03/senate-pdp-caucus-asks-inec-to-release.html

The Peoples Democratic Party (PDP) caucus in the Senate on Thursday demanded for the release of the results last Saturday’s rerun elections in River

State by the Independent National Electoral Commission (INEC).

Rising from a meeting held in Abuja, the caucus asked the electoral commission to release all the results collated in polling units, wards and local

government areas of the state at the weekend.

According to a communique issued at the end of the meeting and signed by Senate Minority Leader, Godswill Akpabio, the caucus resolved to visit the

state Governor, Nyesom Wike, and the families of those who lost their lives in the rerun polls. It also condemned the violence which marred the conduct

of the polls.

The caucus called on President Muhammadu Buhari to support the constitution of a commission

of inquiry to investigate the violence which accompanied the rerun elections in the state with a view to bringing perpetrators to justice.

The communique which said the meeting was attended by the National Chairman of PDP, Ali Modu Sheriff, also asked INEC to conduct the rerun election ordered in Imo North senatorial district, noting that the 90 days ordered by the court for the

conduct of the election has expired.

It also advised the commission to re-schedule the rerun election in Kogi East senatorial district just as it passed vote of confidence on Sheriff whom it said briefed the caucus on the forthcoming

congresses and national convention of the party as scheduled.

The communique read: “The caucus noted the reports from the just concluded rerun elections in the state particularly the declaration of results in units, wards and local government area collation

centres and resolved accordingly:

That lNEC should as a matter of urgency release the outstanding results in the state re run elections particularly results that were collated from all polling units/wards/local government areas in their

possession with immediate effect.

“The caucus reviewed the decision of NEC of our party, PDP, and agreed that the timetable of the party congresses and national convention remains sacrosanct. This was reiterated by the national

chairman of the party, who attended the caucus and briefed members accordingly.

“The caucus agreed to send a delegation to visit Rivers State with a view to congratulating Wike on the electoral victories, and also to commiserate

with the wounded and families of people who lost their loved ones in the re run elections in the state particularly the youth corps member who was slain

in the imbroglio.

The caucus called on lNEC to as a matter of urgency, reschedule the lmo North re-run senatorial election without further delay as the 90 days ordered by the court had since lapsed.

“It also called on lNEC to reschedule similar rerun elections in Anambra Central and Kogi East senatorial districts.

The caucus condemns in its totality the acts of violence perpetrated by enemies

of democracy during the rerun elections in the state.

A vote of confidence was passed on the

national chairman of the party as well as the leadership of the eight Senate PDP caucus of the National Assembly.

“The caucus called on President Buhari to support the ongoing commission of enquiry investigating the killings in the Rivers State rerun elections with

a view to bringing the perpetrators of the violence/ killings to justice.

The caucus urged the political

class to exhibit tolerance for multi-party

democracy in the nation to discourage political impunity in all ramifications.”

However. the Rivers State chapter of All

Progressives Congress (APC) has apologised to the management of National Youth Service Corps

(NYSC) for the death of a corps member, Samuel Dumebi Okonta.

The Director General of Nigerian Maritime Administration and Safety Agency (NIMASA) and gubernatorial candidate of the party in the 2015

general election, Dakuku Peterside, rendered the apology yesterday in Abuja while leading other party leaders on a condolence visit to the national

secretariat of NYSC.

Dakuku said it was unfortunate that the state had been in the news for negative reasons, adding that it was worst of that a youth corps member was killed during an election in the state.

Okonta, who hailed from Illah community in Idemili North Local Government Area of Delta State, was killed during last Saturday’s rerun elections in the

state.

The deceased served as an Assistant Presiding

Officer (APO II) at Ukpeliede Town Hall, Ward 6, Unit 5 in Ahoada West Local Government Area.

“We have come as a delegation of APC Rivers State chapter to pay our condolence to NYSC on the loss of a patriotic young man who offered to

serve his fatherland, instead of being rewarded, he has been sent to early grave.

He died in the course of national assignment in the

state, I am not sure he bargained for early death.

“We are here to pay our condolence that the death

of a young man who had a great dream, who was promising, who spent the best part of his life acquiring education hoping to contribute his own quota to the development of our country, instead of

being given that opportunity, today he has been killed at the course of national assignment. We are saddened that it happened in our state,” Dakuku

lamented.

He noted that Nigeria owes the families of corps members who had died in the course of conducting election in the country.

“We think that Nigeria owes Okonta a lot and all

those who were injured in the course of election in

state. Rivers is not only the state in the country,

we don’t know why our own case will be peculiar, we feel very bad, we feel saddened, and on behalf

of all our people, we want to say sorry to the entire family of the NYSC.

“We appreciate that you lost one of your own but

first he is a citizen of Nigeria before enrolling in the youth service corps and so it is not your loss alone, it is our collective loss,” the NIMASA DG

said.

He, however, pledged that the party would support the family of slain corps member in all ways.

The Director-General of NYSC, Brigadier General

Johnson Olawumi, who was represented by Director of Corps Welfare and Inspectorate, Mrs. Rhoda Kwaki, noted that Okonta’s death was a huge loss but prayed against any re-occurrence.

Culled from Thisday Newspaper

http://creekinfong.blogspot.com/2016/03/senate-pdp-caucus-asks-inec-to-release.html