The Nation July 21, 2015

Page 1

Newspaper of the Year

•Why I won’t appoint ministers till Sept, by Buhari •Ondo workers set for strike tomorrow over salaries •PDP, Kwara bicker over Fed Govt’s N2b bailout •Ekiti police arrest Senator’s aides over tribunal violence •Nigeria’s widest circulating newspaper

VOL. 10, NO. 3282 TUESDAY, JULY 21, 2015

Jonathan NEWS approved Page 4 N1.45b legal fee, says BPE

P4 P7 P59 P7

•www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

N150.00

•INSIDE: NIGERIA’S OIL REVENUE MAY DROP TO $52B FROM $88B, SAYS IMF REPORT P11

Obama renews U.S. support for anti-Boko Haram battle •Buhari recalls U.S., EU backing for fair poll RESIDENT Barack Obama has renewed United States (U.S.) support for Nigeria’s fight against terrorism. Obama spoke yesterday after hosting President Muhammadu Buhari at his Oval Office in Washington D.C., where he lauded his guest’s efforts at restoring “safety, security and peace” to Nigeria. The U.S. President’s meeting with Buhari came less than eight weeks after Buhari assumed duty, underscoring the importance the U.S. attaches to good relations with Nigeria. Obama had extended his invitation for a visit to Buhari almost immediately after he was declared the winner of the March 28 election. Speaking after his meeting with Obama, President Buhari said Nigeria would be “ever grateful” to the U.S. for its support of free and credible elections in Nigeria, adding that the U.S.’s and the

P

•President Obama with President Buhari in the Oval Office of the White House in Washington, DC...yesterday. From Augustine Ehikioya, Abuja

European Union’s (EU’s) pressure to ensure that the general elections on March 28 and April 11 were “fair and credible, led us to where we are

now.” Obama, who met with Buhari at the White House just days ahead of his trip to Kenya and Ethiopia, said Nigeria “is, obviously, one of the most important countries in the world.”

Speaking to reporters at the outset of the meeting, Obama said the U.S. hoped to partner with Nigeria “so that Nigeria ends up being not only an anchor of prosperity and stability in the western part of the continent, but can also be an

PHOTOS: AFP

outstanding role model for developing countries around the world.” He said he would discuss with Buhari how the two nations can cooperate on counterterrorism and how the U.S. “can be helpful in addressing

some of the corruption issues that have held Nigeria back.” Obama said Buhari, as President, has “a very clear agenda” to both contain the spread of militants and keep the Nigerian economy growContinued on page 4

Revealed: How Nigeria lost $2b in oil deals •SEE ALSO PAGES 2,3&55

?

WILL THE CHIBOK GIRLS EVER RETURN?

NPDC, FIRS, banks, workers, contractors demand payments

I

T burst onto the scene with a bang, shaking the elite oil industry. By the time it left the scene – with a whimper – after four years, it took with it billions of dollars that should have gone into the Federal treasury. Now, creditors, including members of its staff and contractors, who are owed a fortune, are wondering what happened to all the cash. But the promoters of Atlantic Energy Drilling Concepts Nigeria Limited (AEDCNL), which entered into a Strategic Alliance Agreement (SAA) with the Nigerian Petroleum Development Company (NPDC), seem to be quiet. Among them are prominent business-

SOME OF THE FIGURES

$2m

•Cash calls that should have been paid to NPDC

$540m

$500,000

•What Atlantic Energy is owing banks

By Adekunle Yusuf, Assistant Editor

men Jide Omokore and Kola Aluko. The SAA, which paved the way for AEDCNL to operate some oil blocks during the administration of former President Goodluck Jonathan, has left

$20m

•Debts owed to members of the staff

•The amount the firm is owing service providers

the country short-changed by about $2 billion. Besides, there are hundreds of millions of dollars in bank loans. After four years in the alliance, everything suggests that NPDC and At-

lantic Energy owe Nigerians a lot of explanations regarding how some oil blocks – OMLs 26, 30, 34, 42, 60, 61, 62 and 63 – were handled between 2011 and 2014. Not all the proceeds of the crude oil lifted in the four years seem to have been accounted for. The SAA covered four oil blocks: OML 26 – FHN; OML 30 Shoreline; OML 34 – Niger Delta Oil, and OML 42 Neconde — all sold by Shell /Agip and Total. It was obvious that the NPDC signed the SAA without due process as stipulated in the government’s procurement laws and policy. Continued on page 4

•E-BUSINESS P13 •TRANSPORTATION P17 •MARITIME P18 •SPORTS P23 •POLITICS P45


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The Nation July 21, 2015 by The Nation - Issuu