Vanguard, WEDNESDAY, OCTOMBER 7 , 2015—37
Mercuria acquires 17% equity of Forte Oil L
By Sebastian Obasi
AGOS—MERCURIA Energy Holding SA, the world’s third largest independent energy traders and asset operators, has acquired 17 per cent equity in Forte Oil Plc, one of Nigeria’s leading integrated energy solutions providers. The equity is valued at $200 million. Through this investment, Forte Oil Plc has secured additional working capital to continue its meteoric growth and dominance in the downstream sector, upstream services, power generation and upstream exploration in its bid to becoming Nigeria’s premier integrated energy solutions provider. Mercuria is said to be joining forces with Forte Oil at an auspicious time when equitable funding and expertise is needed to expand and intensify its market penetration to give the company the leverage to further create a positive impact for all shareholders. The investment, which has been approved by the Nigerian Stock Exchange and the Securities and Exchange Commission is geared towards improving the group’s working capital and would be used for the expansion of the downstream and power generation businesses in
Nigeria as well as positioning itself for future opportunities in the Nigerian oil and gas sector. Mercuria’s core business is sourcing, supplying and trading crude oil and refined petroleum products. From these origins they have expanded the portfolio to encompass petrochemicals, biofuels, environmental products, natural gas and LNG, power, coal, iron ore
and a range of other dry bulk commodities and agricultural products. Forte Oil Plc, formerly known as African Petroleum Plc, markets refined petroleum products for automobiles and machines. It operates various services including retail petroleum product marketing; industrial fuels and lubricants marketing, lubricant production and marketing; vendor managed inventory for
industries; value added peddling; marine supplies; production chemicals, lubricants and greases. It is also involved in the provision of aircraft refueling and defueling services; aviation fuel delivery services; ownership and operation of aviation fuel storage facilities, as well as insecticide, liquefied petroleum gas, and bitumen businesses.
SUMMIT: From left: Mr. Oscar Onyema, CEO, Nigerian Stock Exchange, NSE, Governor Udom Emmanuel of Akwa Ibom State, Dr. Chinelo Anohu- Amazu, Director-General, Pension Commission of Nigeria, PENCOM, and Senator Abubakar Bagudu, Governor of Kebbi State, at the World Pension Summit Africa Special in Abuja.
Jubilation in Rivers APC over Amaechi's ministerial nomination P
ORT HARCOURT—THE Rivers State Chapter of the All Progressives Congress, APC, is excited by the news of the nomination of the immediate past governor of the state, Chibuike Rotimi Amaechi, as a Minister by President Muhammadu Buhari, describing it as a fitting independence anniversary gift to the state. A statement by the State Party Chairman, Dr. Davies Ibiamu Ikanya, yesterday in Port Harcourt said: “With the listing, today (yesterday) of Amaechi as a ministerial nominee despite all the manipulations, witch-hunting and other evil plots by Chief Nyesom Wike and his cohorts, we are elated that, once more, good has prevailed over evil, God over devil, light over darkness and patriotism over nepotism. "By this singular act, President Muhammadu Buhari, has not only given us the best 55th independence anniversary gift, but has also liberated Rivers State from the shackles of a despotic and demonic clique that thought that by propaganda that they C M Y K
could rewrite the history of Rivers State and run down a man whose love for the development and emancipation of Rivers State and Nigeria is infectious. President Buhari has proven that he is not only a man of honour, integrity and principle but also a man who cherishes and promotes friendship and patriotism. "We are proud that Buhari did not allow the propaganda by Wike and his cohorts to sway him from the fact that
Amaechi is a man that he can trust any day and anytime.” Rivers APC assured President Buhari that Amaechi would not only bring honour to his administration but would also work very hard to make his administration one of the best ever in the annals of Nigeria’s history. “As we congratulate Amaechi, we urge him to be steadfast in his drive for a better Nigeria by giving out his best as the failure of the Buhari administration will be blamed on him in view of the risks and sacrifices he made in bringing the
APC government to birth. We thank General Olusegun Obasanjo, Bola Tinubu, General TY Danjuma and all the great minds that ensured that the plots of evil men never prevailed in the appointment of Amaechi as a Minister of the Federal Republic of Nigeria as his non-appointment would have discouraged most Nigerians from working hard to unseat n non-performing government headed by their kinsman”, Rivers APC added.
Court adjourns ex-militants suit against FG, amnesty boss to Oct 21 Federal Y ENAGOA—A High Court sitting in
Yenagoa, Bayelsa State, has adjourned till October 21, for hearing in the suit by some ex-militants, against the office of the Chairman of the Implementation Committee of the Presidential Amnesty programme, and the Federal Government, over their noninclusion in the Amnesty programme. The aggrieved ex-militants,
Asenekir Oyile, Angiama-Owei Oyindoubra, John Government, John Sawyer, Trydy Okpeke, Dollar Motor, Selebi Ayowei, Bobra Angese, Henry Gomeromo and Ekerebi Ombe, in the suit are claiming that the Amnesty Committee erred by refusing to include them in the ongoing Amnesty programme after series of resolutions from meetings with the past and present National Security Advisers to the
President, including late General Owei Azazi and Col. Dasuki Sambo respectively. The ex-militants are asking the court to declare that they were former militants that had accepted Amnesty under the Third Phase and surrendered their weapons to the Federal Government through the Amnesty Office in 2011 under the Peace Initiative of the Federal Government.
Emerhor lauds Buhari on UN presentation By Onoja Innocent
W
ARRI—THE Delta State ALL Progressives Congress, APC, Governorship candidate in the April 11 governorship election, Olorogun Otega Emerhor, has commended President Muhammadu Buhari, for his brilliant presentation at the United Nations, UN, meeting in New York, United States of America. The APC chieftain in a statement by his Director of Media and Political Communication, Dr Fred Oghenesivbe, to mark Nigeria’s 55th independence anniversary, said the leadership quality of the President was emphatically unveiled at the UN where he exhibited uncommon patriotic and diplomatic potential needed for the advancement of the nation in the 21st century. Emerhor posited that President Buhari was on course to restore the country back to prosperity after the economic stagnation experienced during the 16 years of People Democratic Party, PDP, misrule.
Foremost trade unionist, Onyia dies @ 87
A
SABA—A foremost unionist and one of the contemporaries of former labour number one, Pa Michael Imuodu, Ogbueshi Uwachommadu Robert Onyia, has died. The Asaba-born unionist died recently at the age of 87 at his home town. Ogbueshi Ndozi Onyia in a statement on behalf of the family stated that “RU" as he was popularly known, was a sportsman, journalist, politician, trade unionist and notable custodian of Asaba culture.” Late Onyia was was also a pioneer student of Saint Patrick’s College, SPC, Asaba in 1944 and is survived by children and many relations.
Late Robert Onyia