Peoples Daily Online

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www.peoplesdaily-online.com

Vol. 10 No. 7

Tuesday, January 8, 2013

Jonathan may lose 2015 election — Asari Dokubo

. . . putting the people first

Safar 22, 1434 AH

N150

John Mahama: PDP BoT: Opposition boycotts Odds favour Anenih swearing-in

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NNPC borrows N240bn to pay fuel debt ...15,000 bpd of oil as collateral By Aminu Imam, with agency report

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he Nigerian National Petroleum Corporation (NNPC) has obtained a $1.5 billion (N240 billion) syndicated loan to help it pay debts to international fuel traders, a senior banking source with knowledge of the deal revealed yesterday. The deal, which was struck at the end of last year, is seen as crucial to easing the burden on big commodity traders, who were facing the prospect of painful multimillion dollar write-offs, oil trading sources told Reuters. The loan, provided by several Nigerian and international banks and brokered by Standard Chartered, will be paid back over five and half years. The NNPC has put up 15,000 barrels per day (bpd) of its oil production as collateral, the source said. Standard Chartered and the NNPC declined requests for official comment, according to Reuters. Had Nigeria defaulted on these loans it could have restricted the future borrowing capacity of Africa's second largest economy and would have worried credit agencies like Fitch and Standard and Poors, which recently upgraded Nigeria, said Reuters. Standard Chartered and the NNPC declined requests for official comment. When Peoples Daily reporter attempted to contact the NNPC’s Acting Group General Manager, Public Affairs Division, Mr. Fidel Pepple, to comment on the loan, he neither Contd on Page 2

L-R: Nasarawa state Governor, Alhaji Umaru Tanko Al-makura, presenting a plaque to Chief Executive, Martin Press Services Ltd, Mr. Lawrence Martin, during the latter's visit to the governor yesterday in Lafia.

Families of crash victims on Dana’s test flight By Lawrence Olaoye and Suleiman ldris

Reps query clearance, to reopen inquest next week

couple of families of victims of the June 3, 2012 Dana air crash were among the few passengers who braved the odds to fly with the airline at the weekend when it

resumed flight operations in the country, Peoples Daily checks have revealed. This is just as the House of Representatives has queried the clearance given to Dana Airlines

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to resume flights, raising concerns over safety issues among others. The House has also resolved to reopen its inquest into the crash when it resumes session next week.

Further checks yesterday at the five points of sales occupied by the airline at the Murtala Mohammed Airport (MMA2), Lagos domestic wing indicated that Dana will have to deploy the

best of persuasive marketing messages to get travelling Nigerians to return to the airline noted for its excellent customer relations before the unfortunate Contd on Page 2


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