Nigeria Finalises $6bn Crude Oil Deal With 10 Firms –NNPC

Nigeria is on the verge of signing a $6 billion deal with 10 companies for crude oil exchange for refined products to take off by July 1 2017.

The Nigeria National Petroleum Corporation (NNPC) on Thursday, said that the contract terms will see at least 300,000 barrels per day (bpd) of crude oil being swapped for imported gasoline and diesel and other products.

A senior NNPC official told Reuters that the deal, which is a review of similar contract signed in the first quarter of 2016 will accommodate only three of the firms which participated in the previous exercise.

Already, four of the 10 groups have reportedly finished the signing formalities, while the rest were expected to do same on or before Monday.

The NNPC, which is due to give its final approval said the deal would this time seek to have zero tolerance to fuel with high sulphur.

“We are workibg towards having no toxic petroleum products as we are switching over to higher quality, lower-sulphur fuels that will create less toxic fumes,” the official said.

Nigeria, with four state owned refineries, none of which can produce to half their full capacity relies on imported gasoline, kerosene and other petroleum products.

Sulphur levels were a major sticking point in the negotiations with the companies as the Ministry of Environment and the Standards
Organization of Nigeria were said to be insisting that all imported fuel from the swap arrangement must meet international standard of 1,500 ppm for prime motor spirit (fuel) and 500 ppm for diesel.

The list of companies contains several companies from 2016, including Varo Energy, Societe Ivorienne de Raffinage (SIR), Total and Cepsa.

While Italy’s ENI and India’s Essar, which won 2016 were absent from this year’s list, Socar and Mercuria are new additions.

NNPC has been forced to increase its fuel imports to around 80 percent of Nigeria’s consumption, as the independent marketers cry of scarcity of dollars haven affected their businesses.

 

President Buhari handed over to me- Osinbajo clarifies

Acting President Yemi Osinbajo last night via his twitter handle, addressed the speculations making the rounds that President Buhari did not properly hand over power to him. Responding to a twitter user who asked why President Buhari did not hand over the affiars of the country to him, Osinbajo said President Buhari did transfer power to him and that he had sent a letter to the Senate in compliance with S.145 (1) of the 1999 Constitution (as amended). That section of the constitution reads:
“Whenever the President transmits to the President of the Senate and the Speaker of the House of Representatives a written declaration that he is proceeding on vacation or that he is otherwise unable to discharge the functions of his office, until he transmits to them a written declaration to the contrary such functions shall be discharged by the Vice-President as Acting President.”

There have been an uproar over the non-reference of Osinbajo as acting president in the letter President Buhari sent to the senate notifying them of his trip to the UK for his medical follow-up. President Buhari had in the letter stated that he was handing over to Vice President Yemi Osinbajo who would coordinate the activities of government in his absence. Some Nigerians felt this was an oversight and that Osinbajo should have been addressed in the letter as Acting President.

Buhari is not harassing Jonathan's family, he's only allowing the law to take it's course

The Presidency through Femi Adeshina (the special Adviser to the President (Media & Publicity) has responded to ta news headline in a national newspaper of Wednesday, April 26, entitled: Buhari's Government Harrassing My Family, Says Jonathan.

Photo: Voters take to their heels as political thugs attack in Akwa Ibom

Photo shows voters running as political thugs cart away ballot boxes at a polling unit in Akwa Ibom state yesterday afternoon.

Music Alert: [@its_mr_Legend] Mr Legend ft Ebube - Prayer Request. Prodby [@E_Temple]

Another nice track from Mr Legend, this is a gospel hip hop....

Download , listen and share .....

Download here

Music Alert: Efa – “Fall In Love” ft. Plantashun Boiz

Efa releases a new single titled “Fall In Love” featuring the legendary boy-band Plantashun Boiz after a short break.

Cynthia Morgan – “German Juice” [@cynthiamorgan1]

Northside INC’s Cynthia Morgan debuts a new Tony Ross produced track titled “German Juice”.

The number is Miss Morgan’s first music release of 2015 following her 2014 singles “Don’t Break My Heart”,  “Lead Me On”,”I’m Taken” and “Popori”; consume it and share your thoughts

Twitter: @cynthiamorgan1

Download Here

Music Alert: Phyno – “Une” (Prod. by Major Bangz) [@Phynofino][@Majorbangz1]

Phyno is out with fresh new single he titles Une. Produced by Major Bangz. 

Download great tune from the man of the year. #Une 

Phyno di godi okay.. Lol!

Download Here

Music: G-teck ft Hype Mc - Money Minded [@Zicky_Gteck][@Sparkinz_Gteck] [@mrhypemc]

Dynamic Hip-hop duo, Zicky and Sparkinz who make up the music duo
popularly known as G-teck teams up with Hype Mc on a new song titled
‘Money Minded’.

"Money Minded” has enjoyable lyrics and Hip-Hop sound that will make
you put it on repeat. 

VIDEO: D’banj – Feeling The Nigga (Remix) ft. Akon [@Iamdbanj] [@Akon]

The hotly anticipated D’baines directed visuals for the remix of “Feeling The Nigga” by D'Banj  featuring Akon has finally landed as part of the celebration of Dapo’s 10th year in the music industry!!!

Watch are you waiting for? Consume the music video and tell us if it is a hit or miss! 

Download Video Here

Korede Bello – Godwin [Prod by. Don Jazzy] [@koredebello] [@donjazzy]

Brand new from Mavin’s young Star Korede Bello Aka Mega superstar . This song was produced by Don Dorobuchi himself Don Jazzy… Personally I like the song and I think Korede Bello will go far in the industry … listen and tell me what you think bellow

DOWNLOAD HERE

Did you know? Your twitter/Facebook account can get you a quick cashloan of up to N100k

AAre you in a fix for a loan to pay some bills or buy some discounted products with no one to lend you? All this is set to change this season with Sterling Bank’s innovative Social Lender

With Social Lender, cash requests are offered to members of Sterling Bank social media communities with a valid Sterling account. Cash requests are guaranteed based on your Social profile &reputation.

QuickLotto is Now Bigger and Better: Come in, Play and Win

Ladies and gentlemen, this is the time to brace up and start winning Big Money without stress. It is very real and happening live on QuickLotto.Net. In fact, ladies too are winning big in Millions. The game is 100% guaranteed by the Nigerian National Lottery Commission, so there is nothing to fear.

Hype Mc [@mrhypemc] JOLIBA Feat Slim Brown [@slimbrown]

Mr. Raw's Raw Deal Records signed artiste Hype Mc (@mrhypemc) unveils his first single of the year which features Slim Brown (of No Tym Records). The song is titled "Joliba" and was produced by Emcee. 

For the benefit of those who don't know, Hype MC, real name Ukeje Matthew, is the younger brother of the super star indigenous rapper, Mr Raw Nwanne (formerly known as Nigga Raw). Check on his new material featuring Slim Brown below:

Photos: Meet Our Girl Of The Week [@muna01]

OlShe has a distinctive personality, she is especially kind and caring to others. She is a lady who above all else knows the value of having fun, She is a lady that you can trust and count on to brighten your day. She is a lady who can inexplicably make you feel really good just by being around her.

She have qualities that delight or appeal to the senses and often the mind.

She is a Nigerian rap / hip-hop artist, songwriter, pageant winner, television presenter and model.

Her name is MUNA and she's our "Girl Of The Week"

Follow her on : Twitter @muna01

                        Instagram @munachiabii
See more photos after cut.

Photos: Rapper 2shotz settles with Police after unlawful detention

Rapper 2shotz this morning settled with the police at Lamgbasa Police station, four days after calling them out on instagram for unlawfully detaining him overnight in a police cell over traffic violation His initial story which he shared on instagram here caught the attention of the Lagos Police Command who called him over to their office for redress. Below is what 2shotz wrote: 

Photos: Meet Our Girl Of The Week [@SwaggDivaM]

Speaking about beauty? Here's our girl of the week Mz Swagg Diva.

She's from Eastern Part of Nigeria and she's a designer,a song-writer,a rapper and a singer.

Check out her pics.

Follow her on TWITTER @SwaggDivaM

Okada riders ‘besiege’ Tuface

Okada riders laid siege for hours last weekend to Rumours, Tuface Idibia’s Nite club, located in Festac Town, during the awareness campaign of his Vote Not Fight Campaign and official launch of his two new albums, a remastered Face 2 Face and 10.0, in commemoration of the 10th year anniversary of Face 2 Face, his debut solo effort which was released in 2004.

#VoteNotFight.... 2face Idibia speaks out [@2faceidibia]

The music star took to his twitter handle to warn against violence and the need to respect the choices and opinions of others in the weeks to come. More tweets after the cut...

Photos: Meet Our Girl Of The Week [@mizsthicknesz]

Imagine waking up early in the morning and you see this beautiful black lady standing before you.......

Hmmmmmmmmm.............

Let's not go there.....Lolz 

I present to you,our first GIRL OF THE WEEK this year....... Mz Dee.

She's our own Naija babe......

She's a fashion designer.

Check her out....