Amid recession, Nigeria loses N2.1trillion to oil vandals Read more: https://www.naij.com/1027247-shocking-amid-recession-nigeria-loses-n2-1trillion-oil-vandals.html

Group Managing Director of Nigerian National Petroleum Corporation (NNPC) Dr Maikanti Baru has said that Nigeria has lost about $7billion which is equivalent to N2.1trillion in the last 10months to vandalisation of oil facilities. Baru made this revelation on Friday, October 28 during his presentation on “Global Oil Prices, Militancy and Terrorism and its Impact on Government Revenue in Nigeria’’ at the 2016 Fiscal Liquidity Assessment Committee Retreat in Abuja. He said that apart from security challenges in the region, politics, judiciary, oil prices and production cost continued to impact negatively on the oil industry. “Over 7000kpd of crude oil has been lost due to vandalism this year. A bulk of the loss is from JV assets. “This implies that 60 per cent of oil production lost is NNPC-FGN equity. “At an estimated price of 45 dollars per barrel, the total 2016 revenue loss to the Federation Account translates to about 7 billion dollars. “This is money that the government could have used to achieve major infrastructural milestones. “This loss is equivalent to a new 7,000mw power plant; new 350kpd refinery; over 30 per cent of National budget; and a new 1,700 kilometre pipeline.” To resolve this, Baru said the NNPC planned to increase security of oil and gas assets, improve its community social responsibility and the Amnesty programme, Daily Post reports. Meanwhile, President Muhammadu Buhari on Thursday, October 27 unveiled the Petroleum Industry Road-map at the Banquet Hall of the State House, Aso Presidential Villa, Abuja. The road-map has been code named 7 Big Wins by the ministry of petroleum and sccording to industry experts, it is a well thought-out seven short and medium priorities aimed at growing Nigeria’s oil and gas industry between 2015 and 2019. Related Stories Court summons Buhari, DSS to witness against arrested judges

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Restaurant in Spain serves food to diners on bare bodies of waiters and waitresses (photos)

A newly opened restaurant in Spain has a kinky twist—diners can eat food placed on the naked bodies of waiters and waitresses A newly opened restaurant in Spain has found a kinky way to attract adventurous diners. It allows them to dine naked and to finish off their meals, mostly desserts, off the naked bodies of waiters and waitresses. A couple dining in the kinky restaurant To ensure privacy and make its diners feel at ease, the restaurant known as Innato Tenerife does not allow diners to bring their mobile phones inside. In addition, tables are well surrounded by bamboo partitions.

Kano university students riot after local life savers failed to save drowning student

Students of Kano State University of Science and Technology, KUST Wudil on Wednesday rioted and barricaded Wudil-Gaya road in Kano State. DAILY NIGERIAN gathered that the riot was sparked by alleged failure of the school authorities to save the life of a drowning student. Thereafter, the students began setting bonfires, vandalising vehicles, buildings and bank facilities. The victim was identified as Farouk Abubakar, a Level 300 student of Biology (Education). Speaking to our correspondent, the president of the Students Union Government, SUG, of the university, Muhammad Muhammad, said the school authorities had contacted local lifesavers, known as Sarkin Ruwa, to rescue the student but said they don’t operate at night. “The incident happened around 6:30pm on Wednesday. When the matter was reported to the school management, the dean of students affairs pleaded with Sarkin Ruwa to save the student but said they could not work at night,” he said. Narrating how the incid...

Tinubu Accuses Buhari's Aides of Planning Interim National Govt

Bola Tinubu has alleged that there are plans to scuttle the forthcoming 2023 presidential election across Nigeria The APC presidential candidate said some people in the corridors of power are behind the plot to deny Nigerians their franchise The former Lagos state governor, however, pleaded with Nigerians not to be provoked into causing violence Ado Ekiti - All Progressives Congress (APC) presidential candidate, Asiwaju Bola Ahmed Tinubu, on Friday, February 3, alleged moves by some people in the corridor of power to foist an interim national government on Nigeria. According to the former Lagos state governor, the plotters hope to achieve their objective by provoking Nigerians through the crisis arising from the naira notes redesign and the current fuel scarcity. He said the plotters were working on the theory that the possible unrest sparked by the crisis would force the Independent National Electoral Commission (INEC) to postpone the coming elections and proceed to ...

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