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Monday, February 2, 2015
/newtelegraph
Vol. 1 No. 348
@newtelegraph1 www.newtelegraphonline.com
12 pages of the new york times }23
Investors shun $5bn gas pipeline project Adeola Yusuf
I
nvestors are reluctant in bankrolling the $5 billion Abuja-KadunaKano gas pipeline project due to the volatility in the oil and gas sector oc-
casioned by the sustained price rout in the international crude oil market, New Telegraph has gathered. A source at the Nigerian National petroleum corporation (NNPC) said
at the weekend that work on the project, which is the first Public-PrivatePartnership (PPP) on gas in Nigeria, was behind schedule as a result of the banks' position, which is also informed by the de-
valuation of naira. “The September 2014 deadline set to achieve a milestone on the project failed because of the troubled oil and gas market. As we speak now, we are reviewing our initial bank-
ability assessment and we are likely to continue to review this because of the dynamic nature of the gas supply situation. “We know that in order to secure bank-ability we CONTINUED ON PAGE 7
N150
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12 days to go... Nigeria votes
2015
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s vote
2015
}14 & 15
Bodies litter Borno, Yobe as Boko Haram strikes
}5
lArmy cracks down on 188 soldiers for cowardice
Quick Read L-R: Speaker, Sokoto State House of Assembly, Hon Abubakar Tureta; Speaker, House of Representatives and All Progressives Congress (APC) governorship candidate for the state, Hon Aminu Tambuwal and the state Governor, Alhaji Aliyu Wamakko, at a campaign rally in Gada Local Government Area...at the weekend.
FG kits police for general elections Emmanuel Onani Abuja
T
he Federal Government has begun retooling the police to
enhance their operational efficiency ahead of this month's general elections. Towards this end, President Goodluck Jonathan, at the weekend, inaugurated the first batch of 2,
554 patrol vehicles for distribution to police formations nationwide. Jonathan, represented by Vice-President Namadi Sambo, said in Abuja that in addition, the Federal
Government had spent a total of N125 billion within a period of five years on the police. It has also trained 65,000 officers and men in areas CONTINUED ON PAGE 6
Travel Advisory
Your guide to local and international flights }4
Editorial
Looming defections amid campaigns }19 Soludo to Okonjo-Iweala: N30trn stolen }8 under your watch