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Nigeria has saved N254bn on cassava substitution for bread baking - Minister


Dr. Akinwumi Adesina, Nigeria's Agric Minister
The Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, said Nigeria saved N254 billion through the substitution of cassava flour in bread baking

Adesina made this known at the 2013 Ministerial Platform, a mid-term report on the progress and achievements of President Goodluck Jonathan’s administration, in Abuja yesterday.

According to him, the country has also trained master bakers on the application of the cassava flour in bread baking.

He said that government had encouraged market growth by instituting the 40 per cent high quality cassava flour requirements in wheat bread.

He said investment opportunity abound for investors to build new cassava processing plants to capture share in the growing market.

“Processing is a highly lucrative segment of the cassava value chain.

“An initial investment of approximately 30 million dollars is required to set up a plant with 75, 000   tonnes starch capacity or 50,000 tonnes sweetener capacity,” he said.

Adesina said the Federal Government was working to ensure that sufficient cassava raw materials were available for intending processors.

He pointed out that government would facilitate low interest rates for processors and also implement other financial incentives such as tax holidays and capital allowances.

The minister noted that a number of leading indigenous and global firms had indicated interest in   the market for cassava starch in Nigeria.

Adesina said that the Federal Government would establish ‘Staple Crops Processing Zones’ (SCPZ) across the country as incentive to these investors.

“Government has decided to provide the necessary infrastructure such as dedicated power lines and road networks and a one-stop-shop for business set up and registration.

He said that the cassava sub-sector was expected to reach 8.5 billion dollars before the year 2020.
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Fastjet signs MoU with Red 1 Airways to operate in Nigeria.


Fastjet promises to bring low cost airfares to Nigeria.
Fastjet plc (fastjet) on Thursday signed a Memorandum of Understanding, MoU, with Nigeria’s Red1 Airways Ltd, to create a low cost airline operating within Nigeria and to destinations across Africa.
The MoU brings together fastjet’s strong brand, reputation, management experience and economies of scale, and Red1’s extensive local market knowledge within Nigeria.
The airline will be branded Fastjet Nigeria.
Fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under the Fastjet brand commenced operations in Tanzania, November 2012.
The airline has introduced Airbus A319s into its fleet and by adhering to international standards of safety, quality, security and reliability; it claims to have brought a new flying experience to the African market at unprecedented low prices.
Red 1 is a Nigerian commercial aviation business and airline holding company based in Abuja, Nigeria. It is in the process of obtaining an Airline Operating Certificate (AOC) and finalizing plans to start a low-cost airline operation to service Nigeria and the rest of Africa from Nigeria.
A statement by the media handlers of the firms said the capital required for the venture will be the responsibility of Red 1.fastjet plc, which will have a minority shareholding in fastjet Nigeria; while a commercial arrangement will exist between Red 1 and fastjet for the provision of the fastjet Brand, Operational Framework and Management Services.
It added, “Fastjet will provide further details on the signing of binding contracts.
Since launching in Tanzania in November 2012, Fastjet has established itself as a provider of safe, reliable and high quality air travel in Africa; Fastjet Nigeria intends to bring this same level of service to Nigeria, the most populated country in Africa with more than 165 million people.
“The Fastjet Nigeria management team will be led by Red 1, who will oversee day to day operations, while the Fastjet plc management team will bring its extensive experience and expertise of the lowcost airline industry to the partnership. Operating within Fastjet’s growing Pan-African organisation the partnership is planned to provide Fastjet Nigeria with an extensive distribution network.”
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Bank of Agriculture to procure 400 tractors for mechanised farming in Nigeria


The Bank of Agriculture has signed an agreement with the Agriculture Ministry.
The Bank of Agriculture is collaborating with six tractor companies in Nigeria to procure 400 tractors and other farming implements for mechanised farming.
The Managing Director of the bank, Mohammed Santuraki, stated this on Friday in Kaduna when he visited one of the tractor companies, Tak Continental Limited.
He said that the bank had signed a Memorandum of Understanding with the Federal Ministry of Agriculture to access N3.6 billion for mechanised farming in the country. He said the bank would also inject 35 per cent of the amount as its contribution while the 80 service support centres to be established would also make contributions.
Mr. Santuraki said the bank would build a vendor financier relationship with the tractor companies, to supply tractors and other services to the support stations. He explained that the new stations would offer tractors services and other technical support to farmers at reasonable cost.
The managing director said the overall objective was to increase productivity and food security in the country, make agriculture more attractive, and help to reduce the cost of farm labour.
“It is shameful that 60 per cent of Nigerians are engaged in agriculture, yet the country imports 12 billion dollars worth of food every year,” he said.
Mr. Santuraki said mechanised farming would cut down on the numbers of Nigerians in agriculture, who could make more useful contributions in other sectors of the economy.
“The programme is targeted at people who are experienced in this line of business. It is not a political jamboree we want to support agriculture as a business that is viable and sustainable,” he said.
He commended TAK for its support to Nigeria’s “critical economic sector”.
(NAN)

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Gaddafi’s billions heading back to Tripoli

Late Libyan Ruler, Muammar Ghaddafi

The monies were stashed in South Africa.
The South African Treasury has confirmed that an agreement, to repatriate the millions of dollars held in South Africa by the Muammar Gaddafi regime, has been reached with the Libyan Government.
The Finance Minister, Pravin Gordhan, said the transfer of “what is thought to be about one billion dollars”, would be done under the terms of the UN Protocol.
The asset are in the form of funds held by local banks as well as gold bullion stored at Johannesburg’s OR Tambo International Airport.
Mr. Gordan met with a high-level Libyan Government delegation tasked with locating all asset taken out of Libya by Gaddafi and his aides.
Earlier this month, it was revealed that Mr. Gaddafi’s former Chief of Staff, Bashir Saleh, who is on Interpol’s most-wanted list, had surfaced in South Africa. It appeared he assisted the deposed Libyan leader and his family to stash the money in South Africa.
The official opposition Democratic Alliance said Mr. Saleh was spotted at the 5th BRICS summit in Durban earlier this year. It expressed concern at claims that he is able to fly regularly – without being detained – between South Africa, Swaziland and Niger.
It called for Mr. Saleh to be arrested and a full investigation conducted “so that the world knows that South Africa will not allow itself to become a safe haven for international criminals.”
(PANA/NAN)

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Global Internet access: Google to beam Internet from balloons

Google CEO, Larry Page

CHRISTCHURCH - Google revealed top-secret plans Saturday to send ballons to the edge of space with the lofty aim of bringing Internet to the two-thirds of the global population currently without web access.

Scientists from the technology giant released up to 30 helium-filled test balloons flying 20 kilometres (12.4 miles) above Christchurch in New Zealand, carrying antennae linked to ground base stations.

While still in the early stages, “Project Loon” hopes eventually to launch thousands of balloons to provide Internet to remote parts of the world, allowing more than four billion people with no access to get online.

“Project Loon is an experimental technology for balloon-powered Internet access,” Google said in a statement.

“Balloons, carried by the wind at altitudes twice as high as commercial planes, can beam Internet access to the ground at speeds similar to today’s 3G networks or faster.

“It is very early days, but we think a ring of balloons, flying around the globe on the stratospheric winds, might be a way to provide affordable Internet access to rural, remote, and underserved areas down on earth below, or help after disasters, when existing communication infrastructure is affected.”

It works by ground stations connecting to the local Internet infrastructure and beaming signals to the balloons, which are self-powered by solar panels.

The balloons are then able to communicate with each other, forming a mesh network in the sky.

Users below have Internet antennae they attach the side of their house which can send and receive data signals from the balloons passing overhead.

Some 50 people were chosen to take part in Saturday’s trial and were able to link to the Internet.

The company’s ultimate goal is to have a ring of balloons circling the Earth, ensuring there is no part of the globe that can’t access the web.

“The idea may sound a bit crazy — and that’s part of the reason we’re calling it Project Loon — but there’s solid science behind it,” Google said.

But the company added: “This is still highly experimental technology and we have a long way to go.”

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Insurance industry records N250bn gross premium income

Mr.  Fola Daniel, Commissioner, NAICOM

The insurance industry recorded N250 billion Gross Premium Income in 2012, the Commissioner for Insurance, National Insurance Commission (NAICOM), Mr Fola Daniel, has said.

Daniel made this known at the Chartered Insurance Institute of Nigeria (CIIN) 2013 Annual Dinner on Friday night in Lagos.

The event featured the Investiture of Mr Fatai Kayode Lawal as the 45th President of the institute.

Daniel said that the increase from N157 billion in 2010 to N250 billion was due to the implementation of the Market Development and Restructuring Initiative (MDRI).

“The realities of the past three years show that the number of those insured increased from 500, 000 to 1.5 million in 2012.

“This shows that the number of the insuring public tripled within three years.

“Foreign equity ratio also increased from three in 2010 to 10 in 2012, while capacity in the oil and gas sector, which was less than 10 per cent, increased to 40 per cent in 2012,” Daniel said.

According to him, in spite of these achievements, the industry has a long way to go to meet up with developed countries including South Africa.

The NAICOM commissioner urged the new CIIN president to ensure that his administration would build on the success of the initiative.

He said that the CIIN was in the best position to bring the industry players together to chart the way forward.

He urged that the institute should have a think tank to deliberate on national issues and advise accordingly.

Daniel gave the assurance that the commission would continue to take corrective steps to move the industry forward as part of its regulatory mandate.

He said that the commission’s disciplinary actions were designed to develop the insurance industry.

The Chairman of the occasion, Mr Akintola Williams, urged insurance operators to provide the best way to tackle risks in the face of threats to businesses.

Williams, a former President, Institute of Chartered Accountants of Nigeria, urged all professionals to be in the vanguard of tackling the nation’s problems.

He said that professionals were aware of the Federal Government’s good intentions through its transformation agenda.

Williams hoped that the insurance industry pool of funds would help operators to tackle emerging risks as well as provide a platform to check foreign invasion of the industry.

The immediate past CIIN President, Dr Wole Adetimehin, urged Lawal to keep the institute’s flag flying.

He urged members of the institute and the media to cooperate with Lawal to make his tenure successful.

In his acceptance speech, Lawal promised that his administration would hasten the construction of the College of Insurance and Financial Management.

NAN reports that Lawal was a former Chairman of the College of Insurance and Financial Management Board.

He was also a Chief Examiner of the CIIN.
 (NAN)

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Cashless Lagos: There is moderate shift to e-payment – CBN

Cashless Lagos: There is moderate shift to e-payment – CBN
CBN Governor, Sanusi Lamido Sanusi

In what could be regarded a scorecard to the cashless Lagos exercise, the Central Bank of Nigeria (CBN) has said that there is an over 90 per cent awareness of the cash policy in Lagos state with a moderate shift to e-payment usage by retail and wholesale card users.

Making this revelation in Lagos at the just concluded card expo, Head, Shared Services Office of the CBN Chidi Umeano said the cumulative number of Point of Sales (POS) terminals deployed /connected to Nigeria Interbank Settlement System (NIBSS) CTMS stood at 117,412 as at April 29, 2013.

This according to him, represents an increase of over 249 per cent above the 5,992 recorded as at end of January 2012; stressing that”the target of purchasing at least 10,000 POS terminals per vendor has been met, while the number of registered merchants has reached 184, 182 as at April 29, 2013.”

The apex bank introduced the cash-less policy in 2011 and commenced its implementation in April 2012 in Lagos. Its main objectives were to drive the development and modernization of the Nigerian Payments system in line with vision 20- 2020, reduce the cost of banking services, promote financial inclusion, enhance the effectiveness of monetary policy in managing inflation and curb some of the adverse consequences associated with huge usage of cash in the economy.

With 90 per cent awareness recorded in the pilot scheme, CBN is has said that from July 1st 2013, the policy will be extended to 6 other states; Abia, Abuja, Anambra, Kano, Ogun and Rivers. Umeano listed other achievements under cash-less Lagos as: recording over 90 per cent drop in card related fraud incidences. This he attributed to attainment of changeover from magnetic stripe based payment tokens and channels to CHIP +PIN compliant channel and tokens in 2010.

Others are: that Credit/ Settlement Risk has been reduced by shorter clearing cycle; establishment of payment system Policy and oversight office in CBN which is saddled with the effective monitoring and regulation of the payments system among others.

According to him, 4 notable organizations as key stakeholders seized the opportunity to appraise critique and review the impact of the policy- level of awareness and also its adoption within the state. These organizations were; Enhancing Financial Innovation & Access (EFinA), Electronic Payment Practitioners of Nigeria (ePPAN), Financial Derivatives Company Limited and Lagos State Chambers of Commerce and Industries.
The Sun.
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Gay bill: Britain may suspend aid to Nigeria


British Prime Minister David Cameron
British Prime Minister, David Cameron, on Friday said his government might consider cutting off aid to Nigeria over same sex marriage bill passed by the House
of Representatives on Thursday.  The Senate had passed its own version in November 2011.

Cameron spoke on a British Broadcasting Corporation programme monitored in Lagos.

He said he would take up the issue with President Goodluck Jonathan soon.

The prime minister said he would restate his government’s strong objection to the passage of the bill.

The prime minister was reacting to a question by a Nigerian resident in London, Bisi.

“When we meet with Nigerian politicians and leaders, we will be clear about those things we agreed on. We have to be clear where we disagree. We will make clear where we stand on those issues,” he said.

When asked whether Britain would consider stopping a projected 50 per cent increase in aid to Nigeria or cutting it outright, Cameron said, “Nothing is off the table. We need to have these conversations. We also have some very important objectives with Nigerians, for instance on how to deal with the appalling rates of poverty in Northern Nigeria, which are part of the problems confronting the country.”

Britain and some Western Nation had previously expressed opposition to the bill.

Cameron had in October 2011 threatened to cut off aid to countries which ban gay and lesbians.

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Facebook friends tackle Jonathan over mid-term report


Goodluck Jonathan
Facebook friends of President Goodluck Jonathan have taken to his fan page to register their displeasure over the mid-term assessment carried out by himself on his administration.

His allies said it was wrong for the President to have undertaken such a sensitive assignment by himself. They argued it was the masses, not Jonathan and his team, that are in the best position to do so.

The President had stirred up the hornet’s nest on Wednesday, when he posted a message on his Facebook fan page asking his friends to click on a link to get a soft copy of his mid-term report.

The President had stated, “Dear friends, two weeks ago, my team and I gave a mid-term report of the Transformation Agenda of this administration. Though the event was televised live, I know that Nigerians would want to take ownership of the Transformation Agenda and so I have ensured that a soft copy of the report is now available on the National Planning Commission’s site www.npc.gov.ng. Please read the report and let me know what you think we have done well and how we can do better. I thank you and may God bless Nigeria. GEJ.’’

The first set of commenters tackled the President on his reason for asking them to get a soft copy of the mid-term report. According to them, Jonathan should have honestly admitted that Nigerians wouldn’t have had power supply to watch the televised presentation of the mid-term report presentation.

One Florinda Adole notes that Jonathan should have said, “Though the event was televised live, I know that Nigerians would not have light in their houses. So I have ensured that a soft copy of the report is now available.”

But as comments poured in with many disagreeing with the President on his achievements since the inception of his administration, one Nwanneka Omenye Agha says she had long dismissed Jonathan’s report card, adding that he should withdraw his self-assessment from the public domain.

 She notes, ‘”My amiable President, I am not reading any report card. I have scored you myself. In fact, we are to give you your report card and not the other way round. You better withdraw that statement (report).”

In another post, Anyichukwu Patrick asked, “Mr. President, when you were a lecturer, did your students give you marking scheme with which to score them after an exam?’’

They also questioned the motive of a president and his administration who, according to them, had a penchant for reeling out only positive figures and statistics which are not commensurate with the reality in the country.

A particular friend of the President, Yinka Olugbile, told Jonathan that the impact of his Transformation Agenda was boldly written on the faces of millions of Nigerians who cannot afford decent living.

 “Dear Mr. President, the impact of your ‘Transformation Agenda’ is not written in any report but on the faces and expressed in the voices of Nigerians who are hungry and live in darkness in their hearts and houses. Ask for the opinion of apolitical people, they will be the ones to tell you the truth,’’ he says.

Babayemi Oluwagbenga, on his part notes, ‘’ We want to see a reflection of your lofty ideas on the common men. So far, the only reflection we see is poverty in every home.’’

Another post by Folorunso Seun-Samson says, ‘’I haven’t read it but Sir, the hand writing is pretty written on the wall that Nigerians are starving, unemployment rate is increasing, which is largely responsible for insecurity, kidnapping, robbery, money ritual in certain parts of the country. Corruption level is soaring, as no one has been brought to book since you were elected.’’

An angry fan of the President, Peter Orya, says rather than ask Nigerians to download a soft copy of his mid-term report, the President should proceed to the portal of the World Bank and read the organisation’s report of his administration.

Orya says, ‘’Mr.  President, you did nothing for Nigerians, the World Bank has even indicted you that poverty, corruption and unemployment are killing Nigerians. Please, download and read the World Bank report and don’t allow your aides to mislead and feed you with lies.’’

Scoring Jonathan’s administration below par, Joseph Okunamiri who, obviously, had read the mid-term report says, “You have spent three years in office as President and you have achieved very low success. You don’t need to score marks for your administration. It is the people that elected you into office that will award mark for your performance within three years and not two years as you claimed. You scored below average.’’

But amidst the bashing the President received from his friends, many were quick to point out that his declaration of the state of emergency in the three north eastern states of Adamawa, Borno and Yobe states was a step in the right direction, capable of stemming the tide of terrorism in the country.
The Punch
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Regulating bank lending to states, local councils


Regulating bank lending to states, local councils
Sun Editorial
Worried by the flagrant contravention of the law which requires banks wishing to lend to states, local governments and their agencies to obtain  prior approval of the Finance Minister, the Debt Management Office (DMO) recently issued a strong reminder on the sanctions applicable to the infraction. The DMO, which manages the nation’s domestic and external debts, in a widely publicized advertorial said it has observed that some banks give such facilities without clearance. This reminder is in accordance with provisions of the Act setting up the DMO, and the Fiscal Responsibility Act 2007.

Specifically, Section 24 of the DMO Act provides that “all banks and financial institutions requiring to lend money to the federal, state and local governments or any of their agencies shall obtain the prior approval of the Minister of Finance.” The agency, therefore, requested all banks to henceforth “comply with this requirement.” The Fiscal Responsibility Act, also, aims at transparency and judicious use of funds.

We appreciate the concern of DMO on the flouting of extant laws in respect of bank lending to these two arms of government. The warning is apparently a fallout of the spiralling debt portfolio at these levels of government, which, along with that of the federal government, has shot up the national domestic debt.

We are particularly concerned about the market and liquidity risks   associated with massive bank lending to states and local governments without prior notification of the appropriate authorities. A major drawback of such unbridled lending is its huge cost, especially the financial cost. This includes the cost of servicing the debt over the medium to long-term. If not properly handled, the impact of huge debt servicing obligations on the finances of debtor-states and local governments, and their hapless citizens, could be catastrophic.

States and local councils may seek and obtain loans from banks as part of their domestic capital raising options. However, taking of such facilities should   subscribe to the principles of prudent and sustainable borrowing, and the effective utilisation of such loans. For instance, every commercial bank lending to a state or local government is required to make 50 percent provision on all such loans. This is in line with the Prudential Guidelines of the Central Bank of Nigeria (CBN). Also, the lending bank should furnish DMO with details of the loans. Such lending should, according to DMO Act, be subject to public disclosure of material facts, which must stipulate the purpose of borrowing and the tenor or duration. Even though the idea of regulation of loans that banks may give to states and local governments by a federal agency questions the principle of federalism in operation in Nigeria, we support the directive of the DMO and urge all banks and financial institutions to comply to check the nation’s rising debt profile.

This directive is in the best interest of the country. Given Nigeria’s huge domestic debt, the need to avoid unsustainable indebtedness requires that any borrowing by the two arms of government and their agencies is closely scrutinized by the Federal Ministry of Finance. This will enable the ministry to factor in affected states’ monthly debt service ratio, which by law should not exceed 40 percent of their allocation from the Federation Account in the preceding 12 months.

Many states already have debt overhang. Without checking borrowing by state governments and ensuring effective utilisation of   facilities taken, it will be hard to stop descent to unsustainable indebtedness. Huge debt overhang will stymie the growth of the economy of such states and affect the provision of social services and public infrastructure for the people.

According to figures released by DMO, about 65 percent of Nigeria’s public debt comes from borrowings from commercial banks. The holdings of both the banking sector and the non-bank public to our domestic debt have been on the increase since 2001, according to recent statistics from DMO. At present, our economy does not yet have the capacity to absorb this quantum of domestic debt stock. This is because the bulk of the loans obtained from the banks are not channeled into productive sectors of the economy. Some of the loans are used more for personal political ventures and white elephants. Besides, all hands should also be on deck to ensure that the rules guiding the use of debt instruments such as bonds are strictly adhered to by states seeking to raise funds from the capital market.

Overall, let banks willing to lend to states, local councils and their agencies follow due process in order to check excessive domestic debt profile. Those who ignore this advice can only do so at the peril of the financial health of the concerned states, and the well-being of their citizens.
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World population to hit 10.9 billion by 2100: UN


UNITED NATIONS (AFP) – The world’s population will hit 7.2 billion next month and is projected to reach 10.9 billion by 2100, powered by births in poor countries, the United Nations said Thursday.

But, with the number of future global dwellers linked to fertility, the number at the end of the century could be as high 16.6 billion or even fall to 6.8 billion,, the UN said in its “World Population Prospects.”

Focusing on a conservative projection between these two, population growth is expected to be especially dramatic in the poorest parts of the world.

The population of developing countries is projected to rise from 5.9 billion in 2013 to 8.2 billion in 2050 and 9.6 billion 2100, the report said.

The poorest are projected to double in size from 898 million inhabitants of what the report defines as less developed countries this year to 1.8 billion in 2050 and to 2.9 billion in 2100.

In contrast, the population of the planet’s more developed regions is not expected to change much, shifting upward only slightly from 1.25 billion this year to 1.28 billion in 2100.

The report said the number of people in the richest countries would decline if it were not for an increased migration from poorer areas, projected to average about 2.4 million people a year from 2013 to 2050.

Much of the increase in world population between 2013 and 2050 — when the total is forecast to reach 9.6 billion — is projected to take place in countries with high fertility rates, mostly in Africa.

In fact, half of all population growth between 2013 and 2100 is expected to be concentrated in just eight countries: Nigeria, India, Tanzania, the Democratic Republic of Congo, Niger, Uganda, Ethiopia and the United States.

In more developed parts of the world, 23 percent of the population is already 60 or older, with that proportion projected to reach 32 percent in 2050 and 34 percent in 2100.

Globally, the number of people 60 or older is expected to triple by 2100 to hover near 3 billion, with the proportion of older citizens in developing countries to more than double by 2050 and triple by the end of the century.

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IEA disparages Nigeria’s plan to export refined products


World population to hit 10.9 billion by 2100: UN FG approves free diabetes treatment for children
Projections that Nigeria will begin to export refined petroleum products by 2016 may not materialize after all, as the International Energy Agency, IEA, yesterday, said it expects a significant increase in oil processing with the coming on stream of new refineries in Asia and Middle East.

The IEA in its monthly report said it expects 9.5 million barrels per day of new crude distillation capacity, representing more than a 10th of global demand, to come on stream between 2013 and 2018, forcing less advanced competitors in developed countries, including Nigeria, to close.

It maintained that shorter-than-expected crude supply and large refining volumes would undermine refining margins, making it difficult for marginal players to break even.

The 9.5 million barrels refining capacity, the IEA said is substantially more than the forecast increase in crude production capacity and global demand growth.

According to the IEA, the changes would be already felt from the third quarter of 2013 as global refinery runs may rise by more than two million barrels per day on the back of increased processing by China, Saudi Arabia and Venezuela.

It added that the spike in crude runs would exceed forecast product demand growth of 1.7 million barrels per day.

The IEA said, “While Europe’s economic woes are taking a toll on demand, there are mounting signs that China’s oil use, like its economy, may have shifted to a lower gear. Slower growth in demand than in runs could lead to product stock builds.”

The IEA further stated that global crude supply could struggle to keep up with refining demand due to a number of factors, ranging from seasonal maintenance to North Sea production, Sudan’s struggle to resume production, the annual hurricane season in the United States Gulf and risks to Middle Eastern output due to the Syrian civil war.

It said, “While that would normally prompt refiners to drop their throughputs, market participants may not be equally receptive to such price signals. New refining capacity would likely be the last to cut back on runs if refining economics turned south.

“On the other hand, older plants in mature markets, saddled with comparatively high costs, might feel the heat. That those plants should find it increasingly tough to compete is a widely anticipated outcome of the current downstream restructuring.”

Babatunde Ogun, President, Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, had last year projected that Nigeria will begin the exportation of refined petroleum products by 2016.

According to him, if the refineries are upgraded, the country’s yield will increase and would get more petrol instead of the kerosene.

He said, “If the new two refineries we are expecting come in, by that time we should be talking of exportation and in the next four years we should be exporting refined products.”
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Orosanye Report: FG may scrap 220 agencies, others



former Head of Service of the Federation, Mr. Stephen Oronsaye
Former Head of Service of the Federation, Mr. Steve Oronsaye

The Federal Executive Council may approve the scrapping of 220 out of 541 federal parastatals, commissions and agencies by the time it concludes discussion on the draft White Paper on the report of the Stephen Oronsaye-led Presidential Committee on the Rationalisation and Restructuring of Federal Government Parastatals, Commissions and Agencies, which it started on Wednesday.

Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, told journalists at the end of the meeting presided over by President Goodluck Jonathan that the council began a review of the draft White Paper produced based on the report.

This confirmed The PUNCH’s exclusive report on Monday that work had been concluded on the White Paper and that it was ready for presentation to FEC for deliberation.

Abati was joined at the post-FEC press briefing by the Minister of Agriculture, Dr. Akinwunmi Adesina; Minister of Water Resources, Mrs. Sarah Ochekpe; and the Minister of Mines and Steel, Mr. Mohammed Sada.

The presidential spokesman, who said there was no cause for anxiety in the government’s bid to restructure for efficiency, said a White Paper Drafting Committee set up by the President accepted only 321 out of the 541 federal parastatals, commissions and agencies considered by the Oronsaye committee.

“The Oronsaye Committee considered suggestions, recommendations from different quarters and in total, that committee looked at 541 federal parastatals, commissions and agencies. The white paper drafting committee, out of that, accepted 321; noted some recommendations and rejected some,” the presidential spokesman said.

He said the discussion by council members on the draft would continue during the next meeting.

He said the exercise was not aimed at pushing anybody out of employment but to restructure in such a way that would make the government more efficient.

Abati said, “At the end of the day, FEC will take final decision on this recommendation and when that is done, the White Paper will be made public. I don’t think we should jump the gun, the thing to note is that all of this is being done to ensure efficiency, to reduce the cost of government, to avoid leakages and wastages and to make government far more effective in delivering quality service to Nigerians.

“This is not targeted at pushing anybody out of work, this is not an exercise in making life difficult for anybody. This is just government restructuring for better level of efficiency. People should not be unduly anxious.

“You can be assured that now that it is at the level of the FEC, work will be completed on it very quickly, the White Paper will be released and it will be implemented accordingly.”

Adesina said FEC also approved a National Fertilizer Draft Bill, which is aimed at ensuring quality control in fertilizer production as the country continues to make progress in its bid to export the commodity to neighbouring countries.
The Punch
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