The Nation April 15, 2015

Page 1

Newspaper of the Year

Supreme Court affirms Fayose’s Page 8 victory

MORE •Jonathan rejects Constitution amendment •AND ON PAGES •Deputy sues Mimiko for stopping allowances 4,9&56 •Ladoja heads for tribunal to challenge Oyo results •Orekoya kids’ parents beg for cash to pay ransom

NEWS

•Nigeria’s widest circulating newspaper

VOL. 10, NO. 3185 WEDNESDAY, APRIL 15, 2015

•www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

N150.00

‘Oando’s 82% reserves increase good for shareholders’

T

HERE is good news for Oando Energy Resources (OER) shareholders. OER, the exploration and production (E&P) arm of Oando Group, has shown outstanding performance despite the downturn in global oil and gas industry, posting 82 per cent increase in reserves — a development that will likely have a

By Emeka Ugwuanyi

positive impact on future revenue. In a statement, OER stated that as a result of the slump in oil prices, 2014 ended on a sour note for the sector. The downward trend has continued, with speculations that as much as $1.6 trillion will be wiped out in earnings for producing companies and coun-

tries. But, despite the pessimism, Oando has remained strong by proactively acting on some initiatives to sustain its viability as an investment grade stock. OER has significantly increased its Proved and Probable net reserves (2P) from 230.6 million barrels of oil equivalent (MMboe) to 420.3 MMboe. The new reserves figures are based on an annu-

al evaluation report of OER’s reserve and resources conducted by worldwide petroleum independent company DeGolyer and MacNaughton (D&M). It also indicated the economic value of the company’s 2P has increased from $545 million to $1.8 billion. This reserves increase is further validation that Oando’s Continued on page 4

•INSIDE: ‘DIASPORA REMITTANCES’ GROWTH TO SLOW’ P53 REPS PASS N60B NCC BUDGET P53

Chibok parents to Buhari: you can rescue our girls Kids, others march on Education ministry in Abuja From Grace Obike, Abuja

I

T was a moving spectacle yesterday in Abuja. Kids in red shirts, holding numbered placards on which the names of the Chibok schoolgirls are boldly written, marching on the Ministry of Education. With them were some of the girls who escaped in the night of horror on April 14, last year when Boko Haram insurgents hussled the over 200 pupils off their dormitories into trucks and drove them away into captivity. The world was horrified; it still is —one year after. Parents of the Chibok Girls Secondary School, Borno State, girls yesterday said they were hoping President-elect Muhamadu Buhari would find their daughters. Gen Buhari will take office on May 29 and one of the burning issues he will inherit from the outgoing Dr. Goodluck Jonathan administration is the abduction. Yesterday, there were activities in Abuja, Lagos and in some other major capitals across the world to mark the anniversary of the abduction which attracted worldwide outrage, especially when Boko Haram claimed responsibility and showed a video of the girls in captivity with sect leader Abubakar Shekau saying he would sell them off. Continued on page 4

INSIDE •Govt’ll rescue them, says NSA •Soyinka, others call for action •Saraki: we must be hopeful •Reps insist on girls’ rescue •UN remembers Chibok girls AND MORE ON PAGES 4, 10&11

•ALL FOR THE GIRLS: The kids on their way to the PHOTOS: AFP ministry…yesterday.

It is true that the girls are the victims, the parents and guardians are suffering the agony, trauma and pains, but the embarrassment is that of the government and the people of Nigeria

•One of the escapee Chibok schoogirls (centre) being comforted during the march in Abuja…yesterday.

•LIFE P15 •SPORTS P24 •MONEY P26 •INVESTORS P28 •POLITICS P45 •FOREIGN P60


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The Nation April 15, 2015 by The Nation - Issuu