Tuesday, January 30, 2018

Paddy Adenuga: How I NEARLY bought Chevron Netherlands

It was October 2013, two years had passed since I had left the family business in Lagos, Nigeria and moved to London, England to start my own oil trading company. My time in the family business, as a director in the telecoms division and upstream oil & gas company was challenging to say the least but engaging and ultimately rewarding. However, I have never felt comfortable with sitting back and getting a golden pass through life. Whilst the easy thing to do was to be a “good boy and good son” and enjoy all the luxuries of being in a family business – I decided that striking it out on my own once again was the best course of action.
I’ve always loved the oil & gas business, like many other Nigerians. However, what I love about the business, particularly the exploration and production (upstream) side, was the mixture of strategy, operational capability, technical know-how, politics and business acumen which all had to be married with a gambling spirit and sheer luck to be successful. In my decision to move to London, I decided I would only be in the oil & gas business as long as it didn’t pose a direct conflict to the family’s interests. There is striking it out on your own and then there is just being plain foolish. Luckily for me, I had stopped being foolish by then.
The modus operandi of my oil trading business was simple. I kept an office in Lagos with a small team of five to run operations and logistics. I converted one of the bedrooms in my townhouse in London into a study. My team in Lagos under my guidance would get oil trading contracts and I, sitting in London, would either market these contracts to the global oil trading houses to execute in Nigeria on a joint venture (JV) basis or in some instances, I would find the capital to execute the contract from end to end. This formula proved effective and it was good enough to pay my bills and afford me an above modest lifestyle.
One of the traits I took from my parents is that I am highly ambitious and find it hard to sit still. There always has to be a new conquest, a new mountain to climb, or, as is the case most times, a new business to go after. Oil trading was my day job but was never exciting to me except for when I got paid. After days and weeks in London plotting my next move, I came up with an idea and a plan. In the world of upstream oil & gas, especially in Africa, companies that were operators, actively producing oil & gas in commercial quantities that wanted to invest or participate in the oil business were the darlings of the industry. They were like the prettiest girl in high school and every guy wanted her to come to the prom with him.
Most of the oil producing nations in sub-Saharan Africa such as Nigeria, Angola, and Equatorial Guinea would always require any investor into oil & gas assets in their country to either be an oil & gas operator with production on stream or be partnered with an operator, deemed a “technical partner”. This logic makes sense. If you are going to buy prized national assets, you should have the know how to develop and operate them or at least be partnered with an entity that does. I decided that I was going to use a Trojan Horse strategy. I had read ancient Greek literature when I’d attended military academy in Texas and it served as inspiration. I would acquire an oil & gas operating company in Europe (the Trojan Horse), where the political barriers and costs to entry in comparison to Africa would be significantly lower. I would then use this newly acquired company, which would now be of Afro-European in heritage, to become a technical partner to many local and international investors in the upstream oil & gas business in Africa. This company would be the first of its kind and likely the most sought-after oil & gas company on the African continent because of its unique DNA and ownership. After thinking of this idea, I took myself out to a bar a few blocks from my house and ordered myself a nice strong drink. I felt like a genius.

Are there bookshops in Nigeria?- Chimamanda Ngozi Adichie Reaction


 "Are there bookshops in Nigeria?" The question posed by a French journalist last week incensed acclaimed Nigerian novelist Chimamanda Ngozi Adichie.
At an event held in a ritzy Paris government building under crystal chandeliers, Adichie launched a blistering assault on perceived French arrogance.
"I think it reflects very poorly on French people that you have to ask me that question," said Adichie.
"My books are read in Nigeria. They are studied in schools. Not just Nigeria, across the continent in Africa."
The subsequent outrage on social media was perhaps predictable: insults hurled at the French journalist amid accusations of racism and colonial prejudices.
Adichie wasn't done yet. The novelist, who was born in Nigeria but now lives in the United States, followed up with a Facebook post the next day arguing that the bookstore question was "giving legitimacy to a deliberate, entitled, tiresome, sweeping base ignorance about Africa".

Monday, January 29, 2018

Jay Z bashes Trump over ‘shithole’ comment



It’s hard to criticise US President Donald Trump and not get a rebuttal.
Hip hop icon Shawn ‘Jay Z’ Carter bashed Trump on Saturday during an interview on The Van Jones Show on CNN.
The rapper criticised Trump’s reported uses of “shithole” in reference to African countries, saying, “it’s disappointing”.
He said: “Everyone feels anger. After the anger, it’s really hurtful because he’s like looking down on a whole population of people.
“You are so misinformed because these places have beautiful people and beautiful everything.”
Jay Z also commented on Trump’s claim that African-American unemployment record in the US was at an all-time low under his administration.
He said: “It’s not about money at the end of the day. Money doesn’t equate to happiness. It doesn’t. That’s missing the whole point. You treat people like human beings, that’s the main point.”

Bruno Mars leads winners with six awards at Grammys 2018


Bruno Mars won six trophies at the 2018 Grammy awards, including three of the top honours, to emerge the biggest winner on Sunday night. The R&B singer was closely trailed by Kendrick Lamar who made a clean sweep of all the rap categories.

Jay Z, who went into the awards as the highest nominated artiste, went home empty-handed.

Here is the full list of winners.

PHOTOS: The glitz and glam on Grammy awards red carpet


Armed with white roses, celebrities stormed the 2018 Grammy awards red carpet decked to the nines.

The 60th edition of the biggest music awards, which took place in New York, held on Sunday night.

See photos from the red carpet of the event.

Tobi Bakre as First Head of House on BBNaija Season 3

Tobi Bakre has been crowned the first head of house in the ongoing Big Brother Naija reality show.

The housemate emerged winner of the tasks given to all the contestants by Big Brother, popularly addressed as Biggie.

The head of house challenge was split into two parts with the first part carried out on Sunday after the launch and the second part carried out on Monday.
After the fake eviction of the six housemates who could not get bed spaces, Biggie announced the first task which involved padlocks.

Friday, January 26, 2018

NCC to unveil report on mobile call charges

The Nigerian Communications Commission (NCC) says it will play host to a stakeholders’ meeting on mobile voice termination rates February 1.
Findings on cost based study for determination of mobile voice termination rates in the country will be presented at the session.
The study was conducted by PricewaterhouseCoopers (PwC) and it will be unveiled to stakeholders at the Digital Bridge Institute (DBI), Cappa, Oshodi, Lagos.

Tuesday, January 23, 2018

Aisha Buhari: The Critic In The Other Room

           Mrs Aisha M. Buhari, the wife of President Muhammadu Buhari is probably the most loved person in Nigeria today, especially by critics of her husband’s administration. She first came to our notice in this regard when in the course of her ailing husband’s medical vacation in London, she famously declared through BBC Hausa Service that the Buhari administration had been hijacked by a cabal.

Long before anybody raised the issue, she was the first to observe that President Buhari has no business seeking a second term in office the way he was carrying on.

She even added that,

she would not join him for any second term campaign. I had written a piece at the time titled “Aisha and that BBC interview”.

PHOTOS: Islamic Cleric Arrested With Female Private Parts, Kidney, Lap in Lagos


The Lagos State Police Command has arrested an acclaimed Islamic cleric, Abdulfatai Kayode, with suspected human parts on Okedumola Street, Alakuko area of the state.

Female private parts, a kidney, intestines, a heart, lap, among other human parts, were allegedly found in his apartment.

Kayode was apprehended on Tuesday when the state Commissioner of Police, Edgal Imohimi, led operatives to the community.

The suspect said the parts were given to him by a herbalist identified simply as Sadiq for safekeeping.

Wednesday, January 17, 2018

PHOTOS: Islamic Cleric Arrested With Female Private Parts, Kidney, Lap in Lagos

The Lagos State Police Command has arrested an acclaimed Islamic cleric, Abdulfatai Kayode, with suspected human parts on Okedumola Street, Alakuko area of the state.

Female private parts, a kidney, intestines, a heart, lap, among other human parts, were allegedly found in his apartment.

Kayode was apprehended on Tuesday when the state Commissioner of Police, Edgal Imohimi, led operatives to the community.

Check Out The New Lexus LF-1 Limitless SUV


Lexus is showing off a new luxury crossover concept at the North American International Auto Show this week: The LF-1 ‘Limitless,’ which has a sleek, sporty look, and a range of features designed around alternatives tailored to a potential owner’s drivetrain preferences and more.
he Lexus LF-1 is designed to potentially house either a fuel cell, plug-in hybrid, gasoline or all-electric powertrain, and this is something that Lexus is looking at as an example for how it envisions its entire vehicle lineup will operate by 2025 and beyond.

The car also has LED lighting surrounding the grille for signalling to external drivers and people, and its flowing lines are meant to evoke sport performance capabilities as well as versatility.

See more photos below...

Wednesday, January 3, 2018

Benue killings: We’ve arrested eight herdsmen, say police

The police in Benue state say they have arrested eight herdsmen over the death of 10 persons and seven livestock guards in Guma and Logo local government areas of the state.

Moses Yamu, police public relations officer in the state, announced this in a statement issued on Wednesday.

“Eight herdsmen, six in Guma and two in Logo, had been arrested in connection with the attacks,” the police spokesman said.

He added that the command had made additional deployments in the troubled area to forestall further occurrence and restore confidence of the people.

Yamu said the situation in the two local government areas had been brought under control while investigation was ongoing.

“They attacked Tomater village in Sengev council ward, Akor village in Nzorov council ward and Bakin Kwata village in Umanger council ward of Guma LGA,” he said.

“Among those killed were seven (7) members of Benue State Livestock Guards, their vehicle burnt and an uncertain number of persons injured in separate attacks between 31/12/2017 and 02/01/2018.

“Again, Agba-Uko near Azege village and Tse-Aga village of Logo LGA experienced the same fate, where one person was killed, one motorcycle burnt and four persons injured.

“All the injured from both LGAs are currently undergoing treatment in various hospitals in the state.”

According to him, five combined teams of mobile and conventional policemen engaged the armed herdsmen in a gun duel in Guma.

On Tuesday, Samuel Ortom, governor of Benue, said 20 people were killed in the attacks.

The Benue Anti-Open Grazing law came into effect on November 1, 2017, to forestall attacks on Benue communities.

The law stipulates a five-year jail term or an option of N1 million fine for violators

The attack is the first by suspected herdsmen since the law came into effect.

Charly Boy Uurges Nigerians to "Gallant’ in 2018

Charle Oputa, a musician and activist better known as Charly Boy, has urged Nigerians to do away with the attitude of indifference in 2018.

Charly Boy, who championed the #OurMumuDonDo movement in 2017, said Nigerians “must [be] gallant this 2018 before water carry us”.

In a video post on Instagram, he lamented that many were “starving, dying of hunger, frustrated and forgotten” yet continue to endure and forge ahead.

“See how they have turned us to slaves in our father’s house,” he said while sounding a note of warning that: “Henceforth, make una gallant, make una receive sense. We no go take this I don’t care behaviour. Mumu time is over.”

Tuesday, January 2, 2018

Big Brother Naija 3: BBNaija Starts On The 28th Of January 2018


M-Net West Africa has officially announced when the upcoming Big Brother Naija 2018 edition start.

With a return for it third season and that means the countdown is on to your favorite reality TV show obsession come Sunday 28, January 2018 with 24/7 hours show time.

The new Big Brother Niaja 2018 season isn’t far away as M-Net is starting its press announcements and auditions were recently concluded!
Planning on enjoying Big Brother from your couch instead? Yeah, me too. Here’s what you need to know to get ready for Big Brother Naija Season 3!
The hit reality series of Big Brother Naija, hosted by Ebuka Obi Uchendu, will premiere with a special two-hour episode on Sunday, January 28 at 19:00 on DStv channel 198 and GOtv channel 29.

Monday, January 1, 2018

Why Globacom Badly Wants to Acquire 9mobile — But may not get It

THE INSIDER: Why Globacom badly wants 9mobile — but may not get it

Globacom desperately wants to acquire 9mobile — but it would take a miracle for the nation’s second largest mobile network to get its wish, those with inside knowledge of the goings-on have told TheCable.

The company formerly known as Etisalat Nigeria was taken over in July 2017 following a N541 billion debt overhang.

Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator as a result of the debt owed to a consortium of 13 banks, and insisted that the brand name be dropped, leading to the birth of 9mobile.

FLASH: 9mobile Sale Deadline Extended by 16 Days

EXCLUSIVE: 9mobile sale deadline extended by 16 days
The sale process of 9mobile will now be concluded on January 16, 2018 following an approval of the extension of the deadline by the Nigerian Communications Commission (NCC), TheCable can report.
The previous deadline of December 31, 2017 could not be met, as earlier reported by Technology Times, the authoritative online ICT newspaper.
This necessitated a request for extension by the board of directors of Emerging Markets Telecoms Services Ltd, owners of the 9mobile licence.
In a letter to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), Umar Danbatta, executive vice chairman of NCC, acknowledged the risk posed by the year-end deadline for submission of binding offers by prospective bidders for the purchase of 9mobile.
Umar wrote: “The Commission is in receipt of a letter dated 29th November 2017 by which the Board of Directors of Emerging Markets Telecoms Services Ltd. (9Mobile) requested for an extension of the deadline for the submission of binding offers by prospective bidders from 31st December 2017 to 16th of January 2018.
“Having carefully considered the reasons given for the proposed extension in the letter under reference, the Commission confirms that it has no objection to the request and that the extension can be communicated to the Company.

Deaths that shook us as Sunnygist Team in 2017...Onukaba, Eucharia Anunobi’s only child, Tinubu’s son…

Death is inevitable but humans, being mortals, cannot get used to the news of death, irrespective of the frequency it occurs.
People die every day, but who they are and the circumstances surrounding it, are factors that determine the degree of the effect.
While some deaths are received with relatively less sorrow or grief, others shock people to their bone marrows.
Nigeria had its fair share of deaths in 2017, ranging from the casualties of Boko Haram insurgency in the north-east, to the victims of the clash of herdsmen, to people who died of natural causes.
Below are some of the deaths that shook us in 2017.