Chinese Banks to Commit $250m to NNPC’s Ajaokuta-Kano Gas Line Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC), yesterday disclosed that its Ajaokuta-AbujaKaduna-Kano gas pipeline project, often called the
AKK Pipeline Project, would receive a funding boost worth $250 million from Chinese banks. The corporation also explained that the gas line which would cost it $2.7 billion to execute had achieved a lot
of milestones in its contracting process. NNPC’s Group Managing Director, Dr. Maikanti Baru, stated these in a statement from the Group General Manager Public Affairs Division of the corporation, Mr. Ndu
Ughamadu, in Abuja, though he did not disclose the identity of the Chinese banks that are willing to do this. The statement however noted that Baru hosted a delegation of the Nigerian Gas Association (NGA) which
was led by its President, Dada Thomas, when he made these disclosures. Baru stated that the corporation got the funding window when it recently signed a $1.78 billion alternative financing agreements with
International Oil Companies (IOCS) in London, for oil production, adding that the Chinese banks agreed to contribute $250 million towards the gas line projects. Continued on page 8
Violence Erupts in Kenya Following Kenyatta's Win… Page
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After Ozubulu: Drug Crisis at Centre Stage, 80 Nigerians on Death Row in Malaysia UN agency: Nigeria produces finest quality of Methamphetamine in the world, barons raked in $939 million in three years Yemi Adebowale The recent massacre at the St. Philip's Catholic Church, Ozubulu, Anambra State, linked to a gang war among the Nigerian Methamphetamine
barons, which resulted in the death of 13 people has brought to the fore the increasing prominent role of Nigerians in the global illicit drug trade. Continued on page 8
All Set for PDP’s National Convention in Abuja Today Onyebuchi Ezigbo in Abuja The National Convention of the opposition Peoples Democratic Party (PDP), seen as a major acid test for the party's quest to take over power at the federal level in 2019, opens this morning in Abuja amid optimism. As at yesterday evening, Abuja was already agog with many of the party's delegates occupying every available space in hotels.
Although the convention is a non-elective one, it is seen as very critical, since it would not only authorise the extension of the tenure of the National Caretaker Committee, but mark the return of unity to the party. Speaking yesterday shortly after inspecting the Eagle Square, venue of the convention, the Chairman of the planning committee and Governor of Delta State, Ifeanyi Continued on page 8
Court Fixes September 11 for Dino's Application to Stop His Recall… Page 10
FROM CHINA WITH LOVE… L-R: Minister of Information and Culture, Alhaji Lai Mohammed, receiving a souvenir from the Chinese Vice Minister, Guo Weimin, after the signing of Memorandum of Understanding between the two countries in Abuja… yesterday
Boko Haram: Troops Carry Out House to House Search in Maiduguri… Page 55