Business in Ghana

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Posts Tagged ‘Goodluck Jonathan’

Nigeria 2015: The No Choice Election

Posted by Business in Ghana on March 29, 2015

By Adewale Maja-Pearce

I won’t be voting in this year’s election in Nigeria, the fifth since the return of civilian rule in 1999 following many years of the military. It’s partly my fault; partly the fault of the misnamed Independent National Electoral Commission (misnamed because the chair is appointed directly by the president, as he has repeatedly reminded us), which couldn’t find evidence of my 2011 registration despite the obscene amount spent on laptops.

But no matter; I wouldn’t vote if I could. Neither candidate – still less the parties they represent – will lead this country of embarrassing abundance to the Promised Land. Take the incumbent, Goodluck Jonathan of the People’s Democratic Party (PDP), a Christian from the oil-producing Niger Delta in the south. To say that his performance has been abysmal is acknowledged even by his unsavoury handlers who ceaselessly attempt to counter the widespread notion that their boss is clueless – the adjective most used to describe him – thereby confirming the fact.

It is four years since Boko Haram launched its deadly campaign and yet it is only now that he has seen fit to address it, but only with the assistance of soldiers from neighbouring Chad and Cameroon (along with South African mercenaries), a humiliation for a country whose armed forces were once lauded by the UN for bringing peace to Liberia and Sierra Leone. Read the rest of this entry »

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Nigeria Abducted Schoolgirls: RAF Plane Sets Off

Posted by Business in Ghana on May 19, 2014

Taken from the BBC website, this story is too important for Ghana to look askence, hence I am breaching copyright

An RAF spy plane has left the UK to help search for 223 schoolgirls abducted by extremists in Nigeria.

The Sentinel R1 plane, which has a crew of five, took off from RAF Waddington, Lincolnshire, at 09:25 BST on Sunday, the Ministry of Defence said.

Boko Haram Islamic militants took the schoolgirls, who include Christians and Muslims, on 14 April in north-eastern Nigeria, where the group is based.

African leaders meeting in Paris have declared “war” on the group. Read the rest of this entry »

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Exclusive: Nigeria favors local firms in $40 billion oil contract awards

Posted by Business in Ghana on April 23, 2014

By Emma Farge and Tim Cocks, Reuters

DAKAR/LAGOS (Reuters) – Nigeria has awarded most of its long-term oil contracts worth an estimated $40 billion a year to local companies, according to a confidential list seen by Reuters, meaning global traders need to partner with them to access crude from Africa’s top producer.

Global commodity traders, refiners and Nigerian dealers jockey at an annual tender for access to the OPEC member’s prized crude oil, which is easy to refine and produces more high-value fuels.

The contracts cover around 340 million barrels of oil, worth close to $40 billion annually based on current Brent prices, and run for a year, though they can be renewed. They were allocated to just 28 companies, versus around 50 in 2012, the last time they were awarded.

In a break with tradition, no contracts were given directly to global trading houses Glencore Xstrata (GLEN.L: QuoteProfileResearchStock Buzz), Vitol VITOLV.UL, Trafigura TRAFGF.UL or Gunvor, with only Switzerland’s Mercuria winning a contract, according to a list that four industry sources verified as accurate. Read the rest of this entry »

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Pressure on president to switch on more light

Posted by Business in Ghana on November 27, 2012

By William Wallis and Xan Rice, FT.com

A decade of rapid economic expansion on the back of high oil prices and a boom in services has delivered greater prosperity and confidence to parts of Nigeria’s south – notably Lagos, the commercial capital, and more recently the oil-producing Niger delta from where Mr Jonathan hails.

But the development of the mainly Muslim north has been left trailing dangerously, at the same time as the region’s elites are smarting from a loss of political power. It is not entirely coincidental that an Islamist insurgency has taken root, its rank and file peopled by young men with little hope of finding jobs. Read the rest of this entry »

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