Stumbling Dollar, Nigeria’s Militancy Push Oil Prices above $50 FG insists production stands at 1.6m bpd Oando gets N94.9bn 5-year medium term Syndicated loan Chineme Okafor inAbuja,Ejiofor Alike, Nume Ekeghe and Peter UzohoinLagoswithagencyreport Stumbling dollar and attacks on Nigeria’s oil and gas
facilities by the Niger Delta Avengers (NDA), which also tightened crude oil supplies to the international market, pushed up Brent crude oil prices yesterday above $50
per barrel, even though signs of recovering US production capped the gains. Brent crude futures were up 59 cents at $50.23 a barrel, while the US crude futures,
West Texas Intermediate (WTI) were up 57 cents at $49.19 a barrel. Reuters quoted oil traders as saying that the prices rose on a sharp fall in the dollar
on Friday after weak US jobs data sparked concerns over the state of the world's biggest economy, cutting expectations of a near-term cut in US interest rates.
A weaker dollar support fuels demand in the rest of the world as it makes dollar-traded oil imports cheaper. Continued on page 6
Osinbajo Takes over As Buhari Transmits Vacation Letter to N'Assembly… Page 6 Tuesday 7 June, 2016 Vol 21. No 7712. Price: N250
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FG Moves to Dialogue as Militants Renew Threat to Bomb Abuja, Others FG sets up committee for dialogue Youths, soldiers avert bombings of flow stations in Delta
Chineme Okafor in Abuja, Emmanuel Addeh in Yenagoa and Sylvester Idowu in Warri The new militant group, Joint Niger Delta Liberation Force (JNDLF), that threatened to
launch six missiles today, has vowed to target key government institutions, including the State House, Abuja. Continued on page 8
Jonathan: I Did Not Leave Empty Treasury Admits he is being investigated Bolaji Adebiyi in Abuja and Crusoe Osagie in Lagos Former President Goodluck Jonathan yesterday said he did not leave an empty treasury for President Muhammadu Buhari who took the reins of government from him on 29 May last year. “It is not true; there is no way that he (President Buhari) would have inherited
an empty treasury and at the same time give bailout to the states. It’s not possible,” he told Bloomberg TV. The former president, who also said he was under investigation apparently by the federal government, pointedly refuted the Buhari administration’s claim that he left behind an economy that was on its knees. Continued on page 6
DEVELOPMENT IMPACT Tribunal Affirms Bello as Kogi Governor, FOR Group Chief Executive, Oando Plc, Mr. Wale Tinubu, and the Chief Executive Officer, Access Bank, Herbert Wigwe, during signing of the N94.6 billion Medium Term loan between Oando and a consortium of local banks in Victoria Island, Dismisses Faleke’s Petition … Page 9 the Lagos...yesterday