This development is an effort to meet the growing demand for non-scheduled flights services in the country.
The plan is contained in the proposed 2016 budget presented by President Muhammadu Buhari to the National Assembly recently.
A breakdown of figures contained in the budget proposal for the ministry indicates that the ministry has allocated N173m for the construction of a general aviation terminal (GAT) at Wing D of the Abuja airport.
Construction of the GAT for private jets operation will gulp N71.5m, while N13.6m has been appropriated for the provision of a GAT protocol lounge and rehabilitation of the fire station at the airport.
The GAT is where non-scheduled flights like private jets, chartered and special airlines’ operations take place at the airport.
Also, the ministry has proposed to construct a new airline office at the airport for N66.5m, while a new accident rescue centre will be built for N45m.
Output is not far below July’s 31.88 million bpd, the highest since Reuters records began in 1997.
Carsten Fritsch, analyst at Commerzbank said:“There is certainly no chance of Saudi Arabia scaling back its oil supply to make space for Iranian oil,” adding the tensions still justify a risk premium on prices because they could escalate, Reuters reports.
“In other words, the existing oversupply may actually grow further in the short term.”
The biggest monthly decline in output came from Iraq, the world’s fastest growing source of supply growth in 2015.
Exports from Iraq’s main outlet, its southern terminals, have slipped from November’s record level which had been boosted by delayed October cargoes, but are likely to reach new highs in the coming months, industry sources said.
Shipments from Iraq’s north by the Kurdistan Regional Government via Ceyhan in Turkey have edged lower, while those by Iraq’s State Oil Marketing Organisation have remained at zero for a third month, the survey found.
Top exporter Saudi Arabia has kept output steady to slightly lower, sources in the survey said, due to less demand from outside the country and largely steady domestic use.
“Directionally, supply is down a little bit,” said a source who tracks Saudi output. Saudi production reached a record high of 10.56 million bpd in June.
Nigerian output declined by 50,000 bpd due to disruptions to exports from the Brass River and Bonny production streams, sources in the survey said.
Output in Iran, eager to reclaim its spot as OPEC’s second-largest producer when sanctions over its nuclear programme are lifted, is edging up, the survey found. Kuwait and Qatar also posted small supply rises.
Indonesia, which rejoined OPEC on December 4 bringing the membership to 13, will be included in the January survey.
The Minister of Environment Amina Mohammed has projected that the nation can generate $7, 5 billion from of grid solar energy.
Mohammed who spoke at the just held Conference of Parties on Climate Change, otherwise known as COP 21, in Paris, France, said: “In particular, we plan to develop around 13,000 gigawatt of off-grid solar power, delivering energy access to the poorest communities in a cheaper and healthier manner with less emission.
“We also plan to create a more efficient, lower carbon oil and gas sector. By ending gas flaring and using the gas for commercial purposes, including power generation, we could generate as much as $7.5bn worth of benefits.”
The Minister said given the climate risks that Nigeria faces, this is the only way in which the government’s ambitious Agriculture Transformation Agenda can be delivered
“Nigeria’s ambitious INDCs aim at reducing emissions by 20 per cent by the year 2030 with support from the international community. This will support the restructuring of the economy in a way that will facilitate inclusive growth with vast opportunities to diversify the energy mix, with emphasis on renewable energy and efficient gas power,” she added.
Transactions on the Nigerian Stock Exchange, NSE, closed south on Tuesday, January 5 as the All Share Index slumped by 0.95 per cent to close at 28,102.14 points from 28,370.32 on Monday, January 4.
Similarly, the market capitalization also fell from N9.757 trillion to N9.665 trillion.
Ecobank recorded the highest gain of the day with N0.84 gain or 5 per cent to N17.64 followed by Fidelity Bank with a gain of N0.07 or 4.83 per cent to close at N1.52 followed by Livestock that gained N0.06 or 4.51 per cent to close at N1.39 per share.
On the other hand, Stanbic IBTC topped the losers’ chart with N1.53 loss or 9.26 per cent to close at N15.00 followed by Unity Bank that lost 0.10 or 8.93 per cent to close at N1.02 per share, and Nigerian Breweries that lost N6.46 or 5 per cent to close at N122.74 per share.
All together, a total of 195,969,167 shares worth N1,892 billion exchange hands in 2,975 deals.
The value of the naira strengthened to N262 against the dollar on Tuesday, January 5.
The greenback which sold at N265 yesterday gained value selling at N262 as demand for forex dropped.
The volatility in the money market all through 2015 had left the economy in shambles with uncertainty trailing exchange rates and the CBN struggling to save the local currency from the lingering plunge.
The Central Bank of Nigeria, CBN, has said it will be selling $10,000 each to the 2699 licensed Bureau de Change operators, BDCs at the first dollar sales of the year on Wednesday, January 6, 2016.
This decision is coming as the naira gained grounds to hit N262 against the dollar on Tuesday, January 5.
The Acting President of the Association of Bureau de Change Operators of Nigeria (ABCON) said its members have begun to pay up the N250,000 renewal fee.
CBN Director, Corporate Communications, Ibrahim Mu’azu yesterday confirmed that there would be dollar sales to BDCs, contrary to reports that the apex bank will stop sales of foreign exchange to BDCs.
The apex bank last week had published the list of 2,699 BDCs whose licenses have been confirmed having introduced the new requirements in a bid to correct observed deficiencies in the operation of BDCs in the country.
CBN had reviewed the mandatory cautionary deposit for BDCs to N35 million, while the application fee was raised to N100,000, the licensing fee to N1 million, the annual renewal fee for the forex dealers was also increased to N250,000.
Last month, CBN published revised guidelines for the operations of BDCs which ordered BDCs to close all branches within 90 days, saying branch operations is no longer allowed in the subsector.
The Nigerian stock market has shed N92 billion on the second trading day of the year, Tuesday, January 5, due to profit taking.
The market capitalization which opened at N9.757 trillion, slumped by N92 billion, to close at N9.665 trillion, yesterday.
Similarly, the All-Share Index depreciated by 268.18 points or 0.95 per cent to close at 28,102.14 on Tuesday.
Analysts at the United Capital said bargain hunting is expected to greet the market this week as investors take position on low-priced stocks with significant upside potential coupled.
“However, pockets of selling on the back of recent gains will likely offset gains in the week with the benchmark likely to close marginally negative,” they said.
Market breadth closed negative with 15 gainers and 28 laggards recorded. ETI recorded the highest price gain by 5 per cent or 84 kobo, to close at N17.64 per share. Fidelity Bank gained by 4.83 per cent or 7 kobo to close at N1.52, while Livestock appreciated by 4.51 per cent or 6 kobo to close at N1.39 per share.
Africa Prudential leaped by 3.17 per cent to close at N2.60, while CCNN appreciated by 3.11 per cent to close at N9.96 per share.
The Nigerian National Petroleum Corporation, NNPC, on Tuesday, January 5, announced that the country’s three refineries located in Kaduna, Port Harcourt and Warri have attained a combined daily production of 6.76 million litres of petrol per day.
The state-run oil firm, in a statement by its spokesman, Ohi Alegbe, disclosed that the figure is projected to surge to over 10 million litres per day by the end of January 2016.
The statement which gave a breakdown of petrol production from the plants indicates that while Port Harcourt refinery which was re-streamed a week earlier is producing about 4.09 million litres daily, the Kaduna refinery is contributing about 1.29 million litres and Warri which was re-streamed on Sunday is adding a yield of 1.38 million litres of petrol daily.
This an improvement compared with the 1.5 million litres Kaduna refinery was producing as at Christmas day, 2015, while the Warri refinery which was then undergoing restreaming, was producing noting.
NNPC confirmed that the PMS volumes from the refineries which are currently operating at an appreciable percentage of their nameplate capacities will help stabilise the fuel supply and distribution situation in the country.
Following the restrictions placed on some items in the Nigerian foreign exchange market as well as the ban on the usage of naira denominated cards outside the country, some Nigerians have resorted to buying dollars from neighboring countries.
Some Nigerians go to Togo, Benin Republic and Ghana, among other neighboring countries to source dollars to send via courier or other means abroad, Leadership investigations reveal.
Also, findings show that speculators taking advantage of the high demand for dollars in Nigeria buy the greenback from outside the country to sell it in Nigeria.
The value of the naira had dropped to an all time low of N283 to the dollar last year but has remained stable since last week at N265.
The apex bank had placed various restrictions on the foreign exchange market, having removed 41 items from the eligible for forex list and reduced the annual and daily spending limits.
It had also backed the move by banks to stop accepting foreign currency deposits as well as the recent ban on the usage of naira denominated cards abroad, a move that has been condemned by many Nigerians especially students living abroad.
Confirming this, the acting president of the Association of Bureau de Change Operators of Nigerian (ABCON), Aminu Gwadabe said “there are people that now buy euro in Nigeria and convert it to dollar and bring it back to sell. The people doing this are traders that make it their business and not BDCs”
He noted that the speculators who follow international exchange rates take advantage of the high demand of dollar in Nigeria. This he said may spike activities at the parallel market affecting the value of the dollar.
It is a new year! We have finally crossed over to 2016, and while everything seems to be taking a new turn, it seems as though very little has changed in the tech world. No doubt 2015 witnessed the rise of major startups, local apps, impressive tech trends as well as innovations including wearable to large-screen smartphones. However, with the new year already rolling, we must ask ourselves: what are the possible things in store for Nigeria, with regards to technology?
Looking into 2016, Jovago.com, Africa’s No.1 online hotel booking site predicts trends, innovations or technologies that may be witnessed in the Nigerian tech scene this year.
Strengthened security
With Boko Haram issues stretching into the new year and a rise in crime and other insecurities now prevalent in the country, Nigeria’s IT and physical security will become more connected and that convergence could lead to a safer environment as well as the use of better tech tools to ensure security.
From the use of analytics to track driver behavior, implementation of e-procurement systems, biometrics, security and threat management will certainly evolve and hopefully businesses as well organizations will adopt these improved measures.
Increased power of Social Media
This last year, social media played a key role in influencing several national issues, especially during the election period. Nigerians harnessed the potential of modern communication tools to air their opinions and mobilize protests, successfully preventing a rigged election. Twitter hashtags and social media memes became important tools for mobilization and are likely to become even more prominent as 2016 progresses.
There will be more subscribers on key social media platforms including Instagram, Snapchat and Twitter, as well as sensational blogs such as Linda Ikeji and BellaNaija, where they can give feedback on various posts and topics. The government is already responding to this perceived threat (especially as it affects access to information, media attacks, and cyber crime) and may adopt a social media bill in 2016.
A dearth of start-ups
Last year witnessed the rise of new startups such as Tuteria.com, Printivo.com and Gamsole.com. Although startups in general have now become part of the Nigerian society, spreading from metropolitan hubs to suburban areas, the current state of Nigeria’s economy suggests a dearth in the rise of startups in 2016. Despite the large customer base and talents available, investors are not keen on investing due to the fall in value of the Naira and as such, startup inventors have little or no opportunities to raise venture capital. 2016 may have this sector experience challenges in the area of accessing funds; and even existing startups will find it difficult to thrive.
Dangote Cement P.L.C. is the biggest quoted company in West Africa and the only Nigerian company listed among Forbes Global 2000 Companies. The Company currently has several cement production plants in Nigeria in addition to presence in 14 other African countries. To consolidate its current strategic expansion drive and as part of our growing vision.
GE Oil & Gas is a world leader in advanced technologies and services with 43,000 employees in more than 100 countries supporting customers across the industry – from extraction to transportation to end use. Our unrelenting commitment to the environment, health and safety, quality and integrity defines us: it’s The Way We Work. We develop smart solutions for our customers across the oil and gas value chain delivering the innovation, customized service solutions, training programs and technology that helps them to maximize their efficiency, productivity and equipment reliability.
Job Number: 2279057 Location: Lagos, Nigeria
Business: GE Oil & Gas
Business Segment: OG-HQ Headquarters
Role Summary/Purpose
This role will be responsible for identifying, positioning and leading efforts to develop the customer portfolio, forecasting and planning opportunities, managing orders, closing sales and securing contribution margin targets for the Downhole Technology (DT) portfolio of GE Oil & Gas, within the Sub-Sahara region.
Essential Responsibilities
Establish a plan for SSA to support existing customers and grow the customer portfolio by developing leads and new opportunities
Develop and maintain a strong network with key individuals within the customer’s organization and leverage to anticipate customer’s needs as well as accurately forecast sales on a monthly, quarterly and annual basis.
As a coach, accelerate the onboarding and development of a Downhole Technology (DT) services business in the region.
Provide technical support and guidance to clients to help them select the appropriate technology that can provide the desired services within the operating specifications
Monitor the market and evaluate competition and customer specific strategic and operational factors to support business decisions
Drive appropriate processes and rigour to ensure that the opportunity pipeline is up to date and accurate in the sales funnel
Ensure a review rhythm around closure of the assigned geographical region key deals.
Coach the local services team to ensure quality and availability of services.
Build and deliver a plan to improve our customer service experience
Comply with Company Safety policies and procedures and continuously promote and satisfy all Environmental Health and Safety (EHS) requirements
Ensure that all business matters are conducted with the highest integrity and in full compliance with GE Oil & Gas policy
Qualifications/Requirements
Technical Bachelor’s Degree from an accredited university. Minimum of 10 years relevant experience in Sales in the Oil & Gas industry
Demonstrated track record of sales / business development growth in Sub-Saharan Africa
Proven Wireline industry experience, with a Cased Hole and/or Open Hole Logging focus.
Willingness and ability to travel 40% time across Sub Saharan Africa
Experience in running Sondex Cased Hole Logging tools with knowledge of Formation Evaluation and/or Production Logging Interpretation.
Must be a self-starter who is driven to completion of sales orders and project execution
Fan Milk Plc is a leading manufacturer and marketer of healthy, nutritious and safe frozen dairy and non-frozen dairy food products with distribution channels across the length and breadth of Nigeria. Fan Milk Nigeria is a well established and fast growing food processing industry offering wide range of products.
We are recruiting to fill the position below:
Job Title: Customer Development Representative
Location: Lagos
Purpose
Create New Exclusive Agents in the Outdoor Channel within the specified period and in the assigned sales territory.
Principal Accountabilities: (Impact & Innovation)
Ensure creation of new Exclusive Agents in the assigned sales territory and achieve set target. Monitor and report sales equipment usage compliance with franchise contracts.
Critical Qualifications/Skills/Experience (IPE Factor: Knowledge)
The ideal candidate:
Must have an outgoing and convincing personality, with a sense of urgency, who can communicate at all levels and persuade key stakeholders into the right course of action.
Minimum of Bachelor’s Degree in Marketing, Business Administration, Economics or other related discipline (2.2) and HND Lower credit.
Ability to Drive a Truck – possession of Class E Drivers Licence.
Must not be more than 30 years with minimum of 2 years relevant work experience.
Is driven by his/her desire to perform.
Has broad experience with a structured approach to customer relationship management and business development.
Has excellent entrepreneurial and commercial awareness.
Possesses a high degree of assertiveness across cultural and educational diversity.
Good knowledge of the FMCG market.
Selling and Negotiation Skills.
Learning & Career Opportunities
In this position, the incumbent will have an opportunity to acquire skills and knowledge in the following areas;
Work as a team member in a large Organisation
In-depth business knowledge of the business
Good (internal and external) communication skills
Local Government relationship and other stakeholder
Business development skills
Application Closing Date
Not Specified.
How to Apply
Interested and qualified candidates should APPLY
The Nigeria Security & Civil Defence Corps (NSCDC), Kaduna State Command has arrested four tankers and six suspects for illegal diversion of fuel with no fewer than148,000 litres in Kaduna.
Parading the suspects and tankers at the command headquarters yesterday, the State Commandant, Alhaji Modu Bunu, attributed the successes achieved so far to information received from concerned and well-meaning individuals on the plans by vandals to perpetrate their antics in the state over the weekend.
Bunu explained that on receipt of the information, the command quickly mobilized its anti-vandal operatives to strategic locations, leading to the arrest.
According to the state commandant, break-down of the vehicles and the content shows that the tanker with registration number KAF 662 ZA contains 30,000 litres, DKA 515 ZP is with 40,000 litres and the third one with registration number BAU 262 XR is containing 45,000 litres which are suspected to have been diverted.
He said one of the tankers was arrested with a waybill for the product from Suleja to Abuja but was arrested in Kaduna.
The Commandant further disclosed that the fourth truck, a DAF 85 was arrested without registration number and was conveying 33,000 litres of PMS suspected to be a vandalized products.
He said, the occupants of the DAF on sighting operatives of the NSCDC abandoned the truck and took to their heels, while the drivers and motor boys of the other trucks were apprehended and presently in their custody.
Makers of 93 Days, a movie dedicated to the memory of Ebola victims and survivors in the country might be facing legal action from the family of the late physician, Dr. Stella Adadevoh, after the family faulted some of the claims that were reflected in the yet-to-be released movie.
In a letter issued by Dr. Ama Adadevoh on behalf of the Cardosos and the Adadevohs in Lagos on Monday, the families noted that even though the script was given to both families for approval, it claimed that some aspects of the movie did not represent the true accounts and role of the late physician during the Ebola outbreak.
Adadevoh stated, “It has been brought to our attention that a movie titled, 93 Days, written by Paul .S. Rowlston and produced by Native Filmworks, Michelangelo Productions and Bolanle Austin-Peters Productions, is in works for imminent release. The movie about Nigeria’s Ebola story and “dedicated to” Dr. Ameyo Stella Adadevoh was not endorsed by the family.
“The Adadevoh and Cardoso families have not consented to the use of the Stella Adadevoh’s name, likeness or image for commercial profit. The families intend to hold the filmmakers legally accountable for any falsehoods and innuendos in the movie, 93 Days with regard to Dr. Adadevoh and her family.”
The families stated that they were committed to ensuring that the true story that pertains to the late physician was told to the public.
Adadevoh was the first Nigerian to have died of Ebola after contracting it from an American-Liberian diplomat, Patrick Sawyer.
She raised the red flag about the viral disease after Sawyer was admitted at the First Consultants Hospital, Obalende, Lagos.
Two suspected terrorists with arms and ammunitions in Kaduna village have been arrested by the Nigerian Army, The troops arrested the suspects in Gidan Waya area of Jema’a local government area of Kaduna State following a tip off.
Some villagers alleged that the suspects have been responsible for the attacks and killings of villagers.Over 11,000 people in Southern Kaduna have been killed by terrorists’ attacks since 2011.
Meanwhile, the suspected terrorists were taken to an unknown location by the troops who have been drafted to flash point in Southern Kaduna.
From sightseeing to adventure, a vacation does not only spice up your life, it takes away the daily pressure that come with living in Nigeria. Even more, people who tend to travel often, tend to succeed more at work and business than those who do not. Curious to know how this happens? Jovago.com, Africa’s No.1 online hotel booking site gives 5 ways travelling can give you the much needed boost at work.
Fosters social skills
Networking is an important skill surviving in any work environment. When you travel, you often find yourself nestled in a new environment with their cultures, languages, society and lifestyle very unlike your own and you would have to find a way to acquire the knowledge you need about these different cultures.
Travelling tests your social skills: ability to communicate freely, patience, tactfulness, and etiquette. If you can pass this test while travelling, it becomes so much easier to scale through similar tests in your career with ease.
Fuels Creativity
Travelling has a way of opening the mind and enhancing creativity. Most people who work in offices or other corporate environments agree that they find it easier to focus on their jobs after a vacation and they find themselves becoming much more creative. This is because have a clearer perspective about almost everything and become less pessimistic.
Creativity is all about finding new, different ways to get things done and handling the impromptu challenges that arise on a journey gives you the skills to solve them.
Advances travelers’ link with technology
While the main idea behind going on vacation is to break free from work, ironically, travel has a way of forcing you to rely on technology while breaking free of corporate hassles at the same time.
Most travellers in Nigeria usually they have to book their hotel rooms or flight tickets online and rely on apps and news websites to keep up with events going on at home. All these help improve their adoption of technology which eventually helps at the office.
Improves the way they organize
This mostly applies to people whose jobs are in Human Resource, Accounting, or Logistics. Whether you are travelling solo or with family and friends, there are certain things you need to put in place.
Before you set out for the trip, ensure your passports and IDs are all updated. Sort out where to stay, what to do, where to eat and they type of fun you want to have. In the process of sorting out all these, you improve your organisational skills. You find that it becomes easier to follow procedures, create and tick off checklists and this also helps you at work positively.
Entries have opened for application for the second annual Tony Elumelu Entrepreneurship Programme (TEEP) for start-up businesses based in Africa. The application portal which opened on Friday January 1, 2016 will run through midnight on March 1, 2016.
Successful applicants who complete the programme will receive the local currency equivalent of Naira 850,000 as non-returnable seed capital, and are eligible for a further Naira 850,000 in the form of either debt or equity, depending on business need and other criteria.
Selected entrepreneurs will join the existing cohort of 1,000 Tony Elumelu Entrepreneurs, from 51 countries, who formed the inaugural 2015 cycle of the programme and have thus far, received considerable benefits from their participation, including 12 weeks of training on how to set up and manage businesses with mentoring and financial support offered by The Tony Elumelu Foundation.
Asides this, successful applicants will also have access to additional external funding through the platform provided by the Foundation as well as network opportunities across the continent and business sector.
Calling for a broader participation, the chief executive of the TEEP, Parminder Vir OBE, said “we encourage women and men with business ideas from all sectors, from every region, city, town and village across Africa, to apply.
Mr Nduka Obaigbena, President Newspapers Proprietors Association of Nigeria and Chairman, Editor-in-Chief, THISDAY Newspapers Group, yesterday wrote the Economic and Financial Crimes Commission, EFCC to further clarify the payments of N670 million compensation to Thisday newspapers and members of Newspapers Proprietors Association of Nigeria, NPAN, following Boko Haram attack on Thisday office and confiscation of copies of newspapers and circulation vans of newspaper houses.
In his letter, Mr Obaigbena explained how the compensation was arrived at following an agreement for out-of-court settlement and how the payment was made by the office of the National Security Adviser, NSA.
He told the anti-graft commission that the newspaper houses “were victims of a horrendous terrorist attack and should not be victimized any further as the terrorists will be celebrating what we are now being put through.”
According to him, “We do not deserve further trauma because some official(s), outside of our control, may or may not have followed due process. All victims of terrorist attack deserve a fair and just compensation. The fact that we have received some remedy should be reason to accelerate compensation for all victims of Boko Haram attacks across Nigeria, however big or small. We never wished this upon ourselves. The central purpose of government is the security of life and property of all citizens. And the United Nations Declaration of Human Rights, the United Nations Covenant on Civil and Political Rights as well as other international law instruments and conventions of which Nigeria is a signatory underscores this – and in fact requires that we receive effective remedy and compensation”.
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