Court strikes out Badeh, ex-CDS bail application
Adetunji crowned as 41st Olubadan of Ibadanland
Woman in court for bathing neighbour with faeces
Escaping Boko Haram terrorists meet waterloo in Sambisa
I have little expectation from new FIFA President – Odegbami
Sack of VCs unconstitutional, unfair, Fayose insists
DSS releases detained ex-APGA Chairman, Victor Umeh
Corruption: Brazilian Police detain ex-president Lula
Kano governor, Ganduje loses mother
Breaking: Why we attacked Agatu – Fulani herdsmen
What’s Going On with Other Oil Producers?

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North Korea leader orders nuclear arsenal on ‘standby’
Leader Kim Jong-Un has ordered North Korea’s nuclear arsenal to be readied for pre-emptive use at any time, in an expected escalation of military rhetoric following the UN Security Council’s adoption of tough new sanctions on Pyongyang.
Arsenal title hopes hit as Cech faces lengthy absence
Arsenal’s hopes of capturing their first Premier League title in 12 years took a huge hit on Friday with news that goalkeeper Petr Cech faces up to a month out injured.
Staff Audit in govt, labour’s interest – Bello
Kogi State Governor, Alhaji Yahaya Bello has assured the people of the state that the ongoing staff verification exercise is in the interest of workers and the State Government, saying the exercise has become imperative to ascertain the integrity of the government payrolls.
UN rights chief warns FBI risks ‘unlocking a Pandora’s Box’ in Apple case
An FBI bid to force Apple to unlock an iPhone risks setting a dangerous precedent that could have serious global ramifications for human rights, the United Nations rights chief warned Friday.
MTN clarifies accounting provision for fine
The Management of MTN Nigeria has clarifed that the R9287 million set aside in the recently released MTN Group Financial results is in accordance with the Principle of Prudence in generally accepted accounting standards.
We’ll beat Egypt – Onazi
Onazi was mindful of the disappointment Eagles’ non-qualification for the 2015 Afcon caused Nigerians. “I believe this time around we will be matured about it and we know how the emotions were when we couldn’t make it to the last edition of the Nations Cup. We will be very direct and serious about it.”
NNPC returns to profitability July, says Kachikwu
ABUJA — THE Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday, disclosed that the Nigerian National Petroleum Corporation, NNPC, would return to profitability by July 2016, the first time the company would be making profit in 15 years.
Speaking at the Oloibiri Lecture Series and Energy Forum, organized by the Society of Petroleum Explorationists, SPE, Nigeria Council, in Abuja, Kachikwu also stated that within the next one week, the overhaul of the NNPC would commence, which would see the NNPC unbundled into about five companies, while the sub-sets of the NNPC would be unbundled into about 30 companies.
Kachikwu noted that over an average of six to seven months, the NNPC had been able to move from an average loss position of N160 billion every months, but by January 2016, the loss had dropped to N3 billion.
According to him, the corporation is moving in a direction now where by June, July, for the first time in about 15 years, it will be profitable.
He said: “I am happy that we are getting the cooperation of everybody within the system, that is the only way we can guarantee work for those who work there and career paths that are sustainable.”
Kachikwu, who is the Group Managing Director of the NNPC, maintained that the expected return to profitability would be just a tip of the iceberg, noting that when the NNPC and its subsidiaries were unbundled and when the more than 30 companies come on stream with their own managing directors, the country would be able to compete effectively in the global oil industry.
He said: “That is just a tip of the iceberg because by the time these 30 companies are unbundled and the Managing Directors will set programmes, you are going to meet us in an active world. It means we are all going to compete, we are going to make these things work.”
He explained that the overhaul of the NNPC and its subsidiaries, which would be the first in about 20 years, would eliminate titles such as ‘Group Executive Directors’ and replace them with chief executive officers and other people who were expected to take responsibility for their titles.
Benchmark to cut capital expenditure
Kachikwu also disclosed that the Federal Government and the NNPC were concerned about issues of financing and cost and had set a benchmark to cut capital expenditure (CAPEX) by 30 per cent and operating expenditure (OPEX) by 20 per cent.
He said: “We are achieving those in some areas, in some areas we are not. But at the end of this year, as we get into being able to raise the finances abroad, the sheer reality of oil industry competition would force down those prices. Because the reality is that if you are not able to bring a barrel of oil at a competitive price into the market place, you are dead on arrival. Unfortunately also, the market is becoming very much challenged.”
Speaking in the same vein, Speaker of the House of Representatives, Yakubu Dogara, promised that the National Assembly would expedite the passage of the Petroleum Industry Bill (PIB).
Dogara, who was represented by the Chairman, House Committee on Gas Resources, Mr. Agbedi Frederick, said the passage of the PIB would enhance the restructuring and deregulation of the downstream sector.
According to him, the PIB will enhance competition in all segments, including open access to the pipeline as well as providing a robust tariff mechanism for all players.
We have deployed enough officers to end Agatu crisis -IG
The Inspector- General of Police, Mr Solomon Arase, said on Thursday in Makurdi that the force had deployed enough policemen to end the clashes between Agatu farmers and herdsmen in Benue.
PFN congratulates Adeboye at 74
PENTECOSTAL Fellowship of Nigeria, PFN, has felicitated with the General Overseer of Redeemed Christian Church of God, RCCG, Pastor Enoch Adeboye, on his 74th birthday anniversary.
Melaye berated over alleged uncomplimentary remarks about Edo gov’s wife
Chairman, Senate Committee on the Federal Capital Territory, Senator Dino Melaye, has been berated over his uncomplimentary remarks about the wife of Governor Adams Oshiomhole of Edo State, Mrs Iara Oshiomhole.
Ohanaeze to visit Buhari with charter of demands
THE Ohanaeze Ndigbo has resolved to visit President Muhammadu Buhari at the Presidential Villa in Abuja with a charter of demands.The resolution was adopted after a meeting of some members at the private residence of one of their leaders in Enugu, yesterday.
Believe in Eagles, Siasia appeals to Nigerians
Coach Samson Siasia has invited 22 home –based professionals and 20 overseas –based players for Nigeria’s 2017 Africa Cup of Nations qualifying double-header against the Pharaohs of Egypt this month.
Lagos schoolgirls’ abduction: Negotiation over ransom ongoing
LAGOS—Tension is still mounting at Babington Macaulay Junior Seminary, Ikorodu, Lagos, following the delay in the release of the three Senior Secondary School girls abducted by gunmen Tuesday night.
Attacks escalate as Trump clashes with rivals
Donald Trump unleashed fiery, off-color rhetoric at Thursday’s Republican debate after enduring a day of intense criticism by party leaders, as conservatives agonize over embracing his divisive candidacy or derailing his march to the nomination.
Edo 2016: Cat and mouse games
The emerging contest in the two leading political parties in Edo State is laced with much intrigues, shadow boxing and conspiracy theories

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