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Day: May 2, 2019

There are indications that Nigerian singer Davido could finally end up marrying his girlfriend Chioma Rowland, after he wished her happy on his Instagram page on Tuesday, calling her “wifey”.

Davido who maybe planning to spend the rest of his life with Chioma used the occasion to share series of videos and pictures to mark the special day for the birthday girl.

He also shared lovely messages like “Happy Birthday Wifey”, “I’m Not Lucky, I’m Blessed”, “Happy Birthday To the Love of My Life (LOML)”,

“Happy Birthday TO THE LOML ❤️❤️❤️❤️❤️❤️❤️❤️@thechefchi It’s your Birthday All week !!?? WHERE WE GOING ??!!✈️✈️🏝🏝🏝🏝🌍🌍🌍🌍❤️❤️❤️❤️❤️😝😝 💰 God bless you for me ! Can never Imagine Spending the Rest of life With any one ELSE !! I love you BABY !! GREAT THINGS AHEAD !!’

Davido went further to share a video where he was seen kissing Chioma.NAN

Fayemi, El Rufai racing to takeover as Chairman, Governors forum.

Governors Nasir el-Rufai (Kaduna) and Dr. Kayode Fayemi (Ekiti) are contesting for Nigeria Governors Forum (NGF) chairman.

But there are indications that a Southwest candidate may get the job since the outgoing chairman, Zamfara State Governor Abdul-Aziz Yari, is from the North.

El-Rufai is, however, said to have insisted on getting the slot and he is yet to agree to step down for any of his colleagues.

The NGF has had six chairmen in the last 20 years when the nation returned to democracy.

The past chairmen are Alh. Abdullahi Adamu (Nasarawa, 1999 – 2004), Arc. (Obong) Victor Attah, (Akwa Ibom State 2004 -2006), Chief Lucky Igbinedion (Edo 2006 – 2007), Dr. Abubakar Bukola Saraki, (Kwara 2007- 2011) Rotimi Amaechi ( Rivers from 2011 -2015) and Abdulaziz Yari(2015-2019).

According to sources, the NGF poll will hold on May 22 in Abuja ahead of the last National Economic Council meeting for the outgoing governors on May 23.

It was learnt that the governors have started consulting one another on who to elect as their chairman because of the tasks ahead of them, including the need to sustain a harmonious relationship with the President; payment of N30,000 minimum wage and the effects on states’ economy; increasing security challenges; and seeking a new formula for the funding of the Universal Basic Education(UBE).

A governor from Northcentral said: “Many governors are interested in leading the NGF, but the intrigues have left us with two choices – el-Rufai and Fayemi.

“While some do not want el-Rufai for having his fingers in too many pies, others feel his closeness to President Muhammadu Buhari may add value. Most governors in the opposition parties, especially the Peoples Democratic Party (PDP), are opposed to him.

“But Fayemi is rated as a liberal leader who has built bridges across all parties. He is also regarded as a governor who has the ears of Buhari and members of his ‘kitchen cabinet’.

“I think most of us prefer Fayemi to el-Rufai whose leadership style can be likened to that of an headmaster. He is also an academic with an international profile. But in politics, anything can change overnight.

“When we meet on May 22, we will look at all options and choose the best out of the two governors.”

A governor from the Northeast said: “We have a challenge at hand because the outgoing NGF chairman is leaving a big vacuum.

“The truth is that we have never had a successful NGF chairman like Abdulaziz Yari, who is a goal getter. He bailed us out many times by sourcing for funds from the President.

“Governors across all parties were at home with Yari because he succeeded in persuading President Muhammadu Buhari in approving the release of almost N2 trillion to states, including N713.7 0billion special intervention funds to states, London-Paris Club refund and other special funds.

“ The Zamfara State governor might have security and political problems at home and he is probably in a tinder box in his state but he has offered leadership, which is acceptable to all governors across the parties in the country.

“I think he wields much influence in the Presidency and he could assist a state at the press of a button. Most of us were surprised that he is having issues in his state.”

Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.

Spot Brent crude oil futures were at 71.81 dollars per barrel at 0655 GMT, 35 cents, or 0.5 per cent, below their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 27 cents, or 0.4 per cent, at 63.33 dollars per barrel.

“Crude oil prices fell sharply as stockpiles in the U.S. rose to their highest level since 2017.

“This comes as U.S. refineries head into the spring maintenance period, stoking fears that crude oil demand will be soft and stockpiles will continue to rise,” ANZ bank said on Thursday.

U.S. crude stockpiles last week rose to their highest since September 2017, jumping by 9.9 million barrels to 470.6 barrels, as production set a record high of 12.3 million barrels per day (bpd), while refining rates fell, the Energy Information Administration (EIA) said on Wednesday.

Outside the United States, however, oil markets remained tight amid the political crisis in Venezuela, tighter U.S. sanctions against Iran that allow no more exemptions from May, and as the Organization of the Petroleum Exporting Countries (OPEC) continues to withhold supply in order to prop up prices.

Oman’s energy minister Mohammed bin Hamad al-Rumhy said on Wednesday it was OPEC’s goal to extend the cuts, which were started in January, when they next meet in June.

Despite the desire of many OPEC members to keep withholding supply to prop up the market, the group may be forced into action.

“The Venezuelan situation will likely loom large in OPEC deliberations as ministers weigh how many additional barrels may be needed to fill an expanding supply gap that is being driven by geopolitics as opposed to geology,” Canadian bank, RBC Capital Markets, said.

Beyond Venezuela, analysts at Fitch Solutions also warned of risks to supply from Libya, where a civil war is threatening to cut oil fields off from markets.

“The risks here are not inconsiderable, in light of rising instability in a number of key producers, notably Libya and Venezuela,” Fitch Solutions said.

For producers, the tight market conditions mean higher profits.

Analysts at Bernstein Energy said current price levels reflected the average marginal cost for most listed oil producers.

“We have surveyed the 50 largest listed oil and gas companies globally … Based on 2018 annual reports we estimate that the global marginal cost of oil remained stable at 71 dollars per barrel,” Bernstein said in a note on Thursday.

“This is on line with current spot prices but higher than the long-term oil forward strip price of 61 dollars per barrel,” the note said.

“With oil prices rising more than costs, industry margins increased by more than 200 per cent in 2018,” Bernstein said, resulting in industry profitability “at the highest in the last 5 years”

NAN

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