ibuneBusiN£$S 119 :::: -- ______________=N!g"e"'fi=°an :=-T::.:r=Ib UD = e=---_ _ _ _ __
Friday, 5 October. 2012]
Plro]posed oil bill taxes are fair Matthe" >Ulllbltr ,..itb
" M
A&':.p cy fl e Jort
stine Investment. EJtxon. the second
biggest offshore: operator
INJ5~IIR for "'!trltleum
• R(;SOl1r ca. Mrs
In Nlg.erI8. has said Il could not Invest In more deepwater proJecls If the
'\lisol1-
Petroleum Induslry Bill
Maduel'e. ha., Enid lhal
(PIB) was passed In Its
taxes on <!eep ,rrshore
curren' form. If Nigeria Is 10 maintain curren I 011 reserve levels and achieve ambilions of high er producUon. It wUl b~ dependen I on offshore development because the onshore Niger Oelta has already been extensIvely explored over Ule lasl 50
Dlezanl
oil proj~l.!i pmj10scd by the Fed~r1.al (,overnment 8n~ cO"lJpetlUve and CI)IIS'dl:rate.~ rduling ', ' ml,llInLS by foreign 0,11 fi LJ, :- rs that the levi es a '- I! loa high. Shell !Hgerla Managl~t n rector. MuiJu SU<" rIO$1U warned
lhat tllX' le-rm3 In a landmark 1>11 hili are so uncompc(llIvc th at tbey r1sk relld~'1nh )ffshon: 011 ami gas r roJects unvlable , III d could
In Africa's top encrgy producer, opening the way for lawmake rs to debate Ute long awaited legislation. The bill. which Is meant to afrecl everything from fiscal terms to the Slate 011 finn, has already been delayed for nve years. preCisely because of these sort of disagreeme nts between Lhe admlnlstraUon, oil
majors and lawmakers, BUllons of dollars of Investment Into exploration and produclton Is on hold unUi It passes, Allson-Madueke said the lotal ~government take· In the draflmeaning Its tolal share of all revenues after all llLXes and royal lIeswas 73 percent. up from 6 1 per cenl to current deals Willi 011 maJors,
-Ministe r
·The proposed Increase of goyernment take to about 73 per cent Is not only competitive, but conside rate when we look at the scale of other enlltles around lhe world like Norway, Indonesia and even Angola wIth cven hIgher government take,- Allson-Madueke stated . She added lhat
cUlTent deepwater tenus were negoUated In 1993, when 011 prices were Just 820 a barrel. 011 companies argue the nscal terms on 011 drUllng In Nigeria sbould be substanllally better than In other regIons 10 compensale Ulem for the ex.tra risks and cosls posed by piracy, kidnapping, Industrialscale oil theft and corruption,
"",,"s.
Both houses of parliamenl have Ol1lslll;:o a first readlng of a ne'" draft of Ute bill meant to overhaul the 011 Industry
8am!iW4~
unveils low-cost dlUJ 81M phone
O lu ....aa ~!ln Ayan t o kon . I.ago s
AMSUNC last wed III I.agos. un,ellell Its new ChiefHl'.r(,E I)c~dualSIM phonl:. an ultra-low cost solu (:In d ' signed to catn fqr Ult lIef;ds of COSI-cons~"OU5 mobile phon~ users, Ilto the Nigeriar nark.:! The Samsu n , Chief Hero E )!lIlO SlIpports G PRS .:1 '.1al band technotog) aile has a IOOOmAh bat ny that provides lI "er~ \11th I t hours of talk U TIe: and 550 hOUT!! of !-Iandby lime, The Java enabled
Bnd to enjoy more fealUres and acuvlUes such as gaming. video and music anyllme, anywhere . vla their devices - said OdeJayl "AI Samsung. we ullderbland that consumer habits and consumption patterns are changing. thus. we strive 10 smarten up mobile phones and bring smartphone- Ilke experiences to rea ture phone users. -The: Chief lIero E )500 Is not only designed to pTO\' lde the best mobile Internet experle-nce at a very compeUUye price. but It also bMngs togeUler rich
device al,H' fea ures a I ,S- TFT s"re,'r, MP3, and I'M rad io, Ie delh'er tbe LJ 't lmate com m u It I I II t Ion ex~rtenct to ' If en, Speaking at lhe launch of I Ie :II vice at the Samsung E :tl erlence Store 10 Illena on WedJlesda~. Mr iblodun Od'J"yl. Hl' t d of MarkeUnI !!-hlnd Held
messagIng and mulUmo::dla features. - A5 such, the Samsung ChIef Hero mubJle phone ts a smart dual-81M phone that Is large:lel' at Ule Nigerian nlllrkeV 010 explained. Otller features of the mublle phone Include access 10 Inlernel conlent. and social nelwork st'rvlces, such
Products), 8amBung Electronlal We",1 Arrica, relleralC'dUleC"lnpany's couunJtmcnt lO :novtding mobile phuncs that suit the unlqu~ nle 1s and resources 01 In :l!Vlduals In Nigeria Bn d ndeed, the whole ot AJrf ' a -Mobile han:2/.ets are rapidly b - "oml Ig the cent.re of ollr lifts, even as more am; mil!' users
as F'ace book , Twitter, and Yahoo, Togt'ther with Its preloaded Esklml Link and t'~bt'dded rich muillmt'dia application support, Ihe deVice also possesses multilingual features that enable users send telll messages and multimedia messages In stJme NIgerian
S
desire aee"55
-From ltift. Osun State Commissioner for Enlliromnent and Sanitation. Professor Olubukola OyaU1o!le; CoonUnator. Integruted Eoosystem Management Project, Niger Republic, Professor Emmanuel Oladipo: Director. Bureau of Public Procurement. Osun State. Ifr Ayodele Fatoberu and Director. Ministry of Enllfromnent. AIr Joseph Kolawole, at thejlUt concluded mel!!'ting of enlliron ment .5takeholdersjrom the six South-West states. h eld in Osogbo. OSun State.
om cadets to get training on modem fanning techniques
QVERsoomemtxTS f Osun State Youth Empo wennent Scheme (OYES) wereonTuestlayadmitled Into Odu'a Farmers' Academy loundergo a slxmOlll.h Imen5lve prdcUcal training In modern technkjuC!i of fanning, TIle cadets. made up of young, able men sent by the Osun State governor. Rauf Aregbesola. will be exposed to lbe use: of modem techniques In the culUvation of food and horticultural crops and 1~u1.11g or U\'eSIOC:k. Course.s Uley wtll undergo at the academy toclude commercial crop producUon ImaiZe, waler melon, ~lable. pepper, tomatoes), li ves lock production and short courses on prOlt'ct management and aquaculture, The lllOYeby the Osun StalegovertUllt'J1tlsaJmed a.t engaging the youUI in
mechanisedfannb~whlch coukl help Inul5foml Ule agrtculture state. Governor Aregbesola said lhal with the lnIllllng, the agncuHuraJ potentlalilies of t h e slate would be developed such tl131 food could be made available at chcap rates. He had disclosed thaI the focus of hIs adminlslraUon wou ld be on Industrialising the slate through fanning andproVislo n oressentlaJ faclllUes to belter the standard of the people of ihe stale, Group Managing DtreclorofOdu'a Investmenl Company I.lmltt'd. Mr Adcbayo Jlmoh, wh ile receiving ttle students. said that Ule academy was: t'stabllshed with t h e aim of p r oviding the highest leyel of qualitaUvt' and modem training for new and emerging commercial fanne.rs In viable food
10 atlalnlng food security In Nigeria. Mr Jlmoh said Ihat the cadets would be cxposed
and pracllcal knowledge of farming as an alternative 10 Ihe old tradhlonal way of
Bus! ACTING GROUP BU511USS EDITOR
AHltunle Toyo
......
1IfJOad-"unle@II ..... II.cam
MAlUlME Del. Aderilrlp (MItrtbM fllllo.)
GbeHI 0... sn.if(.lnhL fllllOfl
lABOUR SafI·&. fcgbc!o.l (Auht.nt fdHo,)
PROPERTY & ENVlROrlMEHT
CAPIJAl MUKIT
AVlAlION
Fri4lrrU-'"'Ia.f~,
Soh AdeIloIo (OM! ~I
IN5URAtKI
om Ay.!ae,o 10IIet Ieportn)
BRAHD5 & MARItETIHG ~!lAIhonb"
IT{TEUCOM
MONET MARXn
s.. Ay.IrIobe {Sa""'"
OO&...,......I*~
COMMEJCI & INDUSlIY
mEliGY
t·, ~O~'!~l<:n~''----~':"~''~g~u:"~g~'-'~o:.....________''m~O~d~e§,in~=__~w~a~,~s'-----'-----o~r'---~""""'m~'~n~odl~tl~"'~wI~th~"~V~IOW~_L~~~.;:::::!::::::;:.::::::;::::;~~:;;;;~~~J