Connect with us
nairametrics
UBA ads

Business News

Reactions trail Peter Obi’s emergence as Atiku’s running mate

Atiku Abubakar has picked Peter Obi as his running mate for the 2019 General election.

Published

on

Peter Obi

After much public speculation, Alhaji Atiku Abubakar, the PDP presidential flagbearer, has picked Peter Obi as his running mate for the February 2019 general election.

Peter Obi who was a two-term Governor of Anambra State, emerged Atiku’s running mate; this is coming after speculations by Nigerian among four other seemingly befitting candidates – a one-time CBN governor, Prof. Charles Soludo, ex-Managing Director of Asset Management Company of Nigeria (AMCON), Chike Obi, Deputy Senate President, Senator Ike Ekweremadu, and Former Minister of Agriculture, Akinwumi Adeshina.

The choice of Peter Obi

As events unfold daily, Nigerians can predict likely outcome based on the calibre of candidates contending for the seat of the President, as well as their running mates, in the 2019 general elections.

Peter Onwubuasi Obi has been in the political scene since 2003, serving successfully for two terms as the Governor of Anambra State; having won a case over his opponent, Senator Chris Ngige, who was earlier declared the winner in 2003.

Then President Goodluck Jonathan, appointed Obi as Chairman, Securities and Exchange Commission (SEC) a few months before he tenure ended.

GTBank 728 x 90

Before assuming position of a governor in 2006, Peter Obi had also served as the Board Chairman of Fidelity Bank Plc. This earned him recognition as the youngest Board Chairman of a bank.

Reactions on Twitter

There is no doubt an obvious air of relief and affirmation over Alhaji Atiku Abubakar’s choice. Atiku is gradually conquering general misgivings, having made moves in the past weeks applauded by many.

Even more

app

More hearty cheers

Coronation ads

2 Comments

2 Comments

  1. olufemishield

    October 13, 2018 at 7:30 pm

    This is a poorly-written news article. Poor grammatical structure, poor punctuation… Not befitting of the reputation associated with this platform.

    @Ugodre, I think some of these your newer writers need immense guidance. They need tutelage on how to write well.

    If Nairametrics does have an editor, someone like Onome or Emmanuel can do a great job as one. Having read Emmreadl’s bio for instance, I can see he studied Philosophy which is a very analytical discipline. This even shows in his writing. Philosophers make very good editors, by the way. And he even has a Masters degree.

    Onome, on the other hand is an Economist and a great writer as well. He can do great.

    I have especially followed these two authors on your platform because I really think they are special. You already have talented writers. Use them to develop the upcoming ones.

    This is just my opinion/suggestion.
    You may not even approve this comment. But consider what I’ve said. I’m just a concerned reader of Nairametrics.

  2. Anodebenze

    October 15, 2018 at 12:23 pm

    Peter Obi,giant slayer,the former governor of my home state anambra state,a single minded man,a man who does not a sh–t about anybody,big shot political godfather,we took all of them in political warfare and defeated all of them.
    He single handed created the apga power structure in Nigeria,he took on pdp in war,those who are in pdp in anambra state are alex ekueme and chuba okadigbo,The late chuba okadigbo and atiku political friend.
    He went to nnewi and picked a female deputy governor,ojukwu’s hometown,i doubt if ever consulted ojukwu in any thing>peter Obi,when they started messing with him,he went to supreme court and won, a fighter, a man with hard skin,he believes, this good for my state.
    All I read is that he is a performer,the only criticism is that,those in pdp are complaining that they were not consulted,to me,the nexr election is less than 6 month,they should support atiku and obi

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Commodities

Five oil majors reduce value of their assets by $50 billion in Q2

Energy demand at one point was down by more than 30% globally.

Published

on

Five oil majors (including Exxon Mobil and British Petroleum) reduced the value of their assets by $50 billion in Q2, 2020. They also reduced their production rates as the COVID-19 pandemic caused a downward trend in energy demand.

What this means: The cut in asset valuations and reduction in crude oil production by these oil majors showed the depth of damage the COVID-19 pandemic caused on the global energy sector in Q2, 2020.

Energy demand at one point was down by more than 30% globally and still remains below pre-pandemic levels.

Some of these conpanies’ executives said they took these austerity measures because they expect demand to continue to be on the downward trend in the meantime. This is in view of the fact that people around the world are traveling less, even as many global industries are not in full capacity. The pandemic has already killed more than 700,000 people.

Of those five oil majors, only Exxon Mobil (XOM.N) did not book sizeable impairments, Reuters reported. However, an ongoing re-evaluation of Exxon Mobil plans could lead to a reasonable amount of its assets being impaired, and signal the removal of 20% or 4.4 billion barrels of its oil and gas reserves.

GTBank 728 x 90

Oil major BP (BP.L) took a $17 billion hot. It said its plans in the coming years would be a focus on renewables and fewer fossils.

About two weeks ago, Nairametrics reported how Exxon Mobil and Chevron posted their worst losses in modern history, as the COVID-19 pandemic and a glut in crude oil reduced the demand for energy products in the second quarter of 2020.

Continue Reading

Hospitality & Travel

US gives reasons it warned citizens against travelling to Nigeria, lists 12 high risk states

The US government has issued a level 3 Travel Health Notice for Nigeria due to COVID-19.

Published

on

US gives reasons it warned citizens against travelling to Nigeria, lists 12 high risk states, Donald Trump, What does Iran’s war with America mean for Africa?, US to stop issuing visa for Birth Tourism, Trump Travel Ban List: Why Nigeria should be excluded  , US spends over $5b in health assistance to Nigeria in 20 years, gives $32.8m for covid-19, Oil Is Back

The United State Government has advised its citizens against travelling to Nigeria due to the Coronavirus pandemic, terrorism, civil unrest, kidnapping, widespread inter-communal violence, and others.

This warning is contained in a travel advisory statement that was obtained from the United State Department of State website.

The statement also disclosed that the Centre for Disease Control and Prevention (CDC) had issued a level 3 Travel Health Notice for Nigeria due to the Coronavirus pandemic. Also, some parts of the country have increased risk.

“Reconsider travel to Nigeria due to Covid-19. Reconsider travel to Nigeria due to crime, terrorism, civil unrest, kidnapping and maritime crime. Some areas have increased risk.’

‘’Do not travel to; Borno and Yobe States and Northern Adamawa State due to terrorism; Adamawa, Bauchi, Borno, Gombe, Kaduna, Kano and Yobe States due to kidnapping; Coastal areas of Akwa Ibom, Bayelsa, Cross Rivers, Delta and Rivers States (with the exception of Port Harcourt) due to crime, civil unrest, kidnapping and maritime crime,’’ the statement said.

GTBank 728 x 90

It stated that violent crimes such as armed robbery, assault, carjacking, kidnapping, and rape, have become common throughout the country. As such, US citizens were advised to exercise extreme caution throughout the country due to the threat of indiscriminate violence.

“Terrorists continue plotting and carrying out attacks in Nigeria, especially in the Northeast. Terrorists may attack with little or no warning, targeting shopping centres, malls, markets, hotels, places of worship, restaurants, bars, schools, government installations, transportation hubs, and other places where crowds gather.

“Sporadic violence occurs between communities of farmers and herders in rural areas.’

The US government acknowledged the fact that it has limited ability to provide emergency services to US citizens in many parts of Nigeria due to the security conditions.

Going further it stated, “Do not travel to Borno and Yobe States and Nothern Adamawa. Terrorist groups based in the Northeast target churches, schools, mosques, government installations, educational institutions and entertainment venues. Approximately two million Nigerians have been displaced as a result of the violence in Northeast Nigeria.

“Do not travel to Adamawa, Bauchi, Borno, Gombe, Kaduna, Kano and Yobe States. The security situation in Northwest and Northeast Nigeria is fluid and unpredictable, particularly in the states listed above due to widespread inter-communal violence and kidnapping.

app

“Do not travel to the coastal areas of Akwa Ibom, Bayelsa, Cross Rivers, Delta and Rivers States (with the exception of Port Harcourt). Crime is rampant throughout Southern Nigeria, and there is a heightened risk of kidnapping and maritime crime, along with violent civil unrest and attacks against expatriate oil workers and facilities.’’

Continue Reading

Energy

World’s largest oil company to pay $75 billion annual dividend, despite plunge in profits

Saudi Aramco is the national energy company of Saudi Arabia.

Published

on

oil company, Just copy Saudi Aramco

The world’s largest oil company, Saudi Aramco reported a 73% drop in profit Q2,2020 profit and still kept its plans to pay $75 billion in annual dividends in a report credited to Bloomberg News

Saudi Aramco reported a plunge in profits for Q2,2020 of 24.6 billion riyals compared to 92.6 billion riyals recorded in the same corresponding year.

Aramco will pay a Q2,2020 dividend of $18.75 billion, most of it to the government of Saudi Arabia, the company’s major shareholder.

READ MORE: Apple becomes world’s largest public listed company, valued at $1.82 trillion

The plunge in profit was due mainly to “the impact of lower crude oil prices and declining refining and chemical margins,” Aramco said in the statement to the Saudi stock exchange.

GTBank 728 x 90

“Strong headwinds from reduced demand and lower oil prices are reflected in our second-quarter results,” said Chief Executive Officer Amin Nasser.

“We are seeing a partial recovery in the energy market as countries around the world take steps to ease restrictions and reboot their economies.”

READ ALSO: Shoprite’s owners to leave Nigeria after 15 years

Quick fact; Saudi Aramco is the national energy company of Saudi Arabia. It produces five grades of crude oil and natural gas liquids.

It also produces refined energy products that include liquefied petroleum gas, ethanol, naphtha,  and other products.

It exports about 75% of its crude oil to foreign markets, most often with its oil tankers. Saudi Aramco has access to crude oil reserves of about 260 billion barrels, the largest in the world.

app

READ ALSO: Nigeria’s Petroleum minister and Saudi Aramco discuss investment options

OPEC’s largest oil exporter, Saudi Arabia has been hit hard by global economic restrictions aimed at curbing the spread of COVID-19.

The Saudis make most of its revenue from crude oil, which has dropped 33% in value this year.

Coronation ads

Continue Reading
Advertisement
Advertisement
first bank
Advertisement
Advertisement
first bank
Advertisement
Heritage bank
Advertisement
beyondperception
Advertisement
devland
Advertisement
GTBank 728 x 90
Advertisement
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement