The coup in Gabon is fueling a modest increase in the prices of crude oil due to seemingly threats to exports from the country which produces about 200,000 barrels a day (bpd) of crude oil, making it the second-smallest OPEC producer.
Earlier on August 30, a cohort of senior military officers declared that they had assumed control following the announcement by the state election body that President Ali Bongo, had secured a third term. Note that Bongo’s Father had ruled as president before him for 42 years.
According to a report by Wall Street Journal, since Gabon’s coup announcement, global crude oil prices have seen a modest increase due to seeming threats to exports from the country.
“The coup and the threat of disruptions to Gabon’s oil exports are supporting oil prices, but only modestly as the nation is a minor OPEC oil producer, DNB Markets analyst Helge Andre Martinsen says. Brent crude oil is up 0.3 per cent at $85.19 a barrel.
“The nation’s output stands at a modest 190,000 barrels a day, but it has been the only African OPEC member to hit its production quotas. So far, there has been no sign of disruption to Gabon’s oil output. Still, the coup serves as a reminder of the geopolitical risk in the oil market, Martinsen says.”
It is important to note that as of 12:50 PM (GMT+1) on Wednesday, August 30, Brent crude price was at $86 per barrel.
The Gabon coup is raising supply concerns alongside Hurricane Idalia in the United States, which has raised oil supply concerns as well.
Meanwhile, on Wednesday, Amena Bakr, OPEC’s chief correspondent posted on Twitter that so far, it appears that oil production from fields in Gabon is not affected by the military coup.
Similarly, Assala Energy, which is wholly owned by Carlyle Group (CG.O), said its oil production in Gabon has been unaffected by the military coup in the country.
“We can confirm that all our personnel are safe, our operations continue as usual and our production is not affected,” a company spokesperson said.
The private equity fund’s non-U.S. energy arm first invested in Assala in 2017 when it acquired Shell’s (SHEL.L) ageing operations in Gabon for $628 million.
However, earlier this month, Carlyle agreed to sell Assala to French producer Maurel & Prom (MAUP.PA), which owns and operates oil and gas assets in Africa, Europe and Latin America, including three licences in Gabon, for $730 million.
[NationalDaily]
The United States Presidential Precinct has appointed Toyosi Ogunseye as its new president and chief executive officer (CEO).
Ogunseye, who is the second president and CEO of the organisation, takes over from Neal Piper, the founding director.
Jim Murray, the organisation’s founder and board chair, said Ogunseye’s appointment will guarantee a bright future for the Precinct.
“Toyosi’s experience combined with partnerships and resources that we have established over the past ten years will guarantee a bright future at the Precinct,” he said in a statement on Wednesday.
“We began this search process by looking far and wide; little did we know that after six months of exhaustive outreach and networking, one of our own would be stepping in to lead.
“I am grateful for Toyosi’s longstanding commitment to the Precinct. We have much to look forward to.”
Commenting on her appointment, Ogunseye, who was a 2014 Mandela Washington Fellow, said she is honoured to lead an organisation that opened its doors to her nine years ago.
“I’m honoured to have this opportunity to lead such an impactful organization 9 years after I first walked through its doors,” she said.
“I look forward to innovative collaborations with our staff, Board, program alumni, and community partners in Williamsburg and Charlottesville.
“Working together, we will expand and elevate tools and resources that have distinguished the Presidential Precinct as a transformative public diplomacy organisation.”
Ogunseye has two decades of leadership experience in journalism, most recently serving as a senior news editor for news and commissioning at the BBC.
Prior to joining BBC, Ogunseye was the first female editor in the 50-year history of Punch Newspaper.
Ogunseye, who recently concluded her term as vice-president of the World Editors Forum, is a board member of the World Association of News Publishers.
[TheCable]
The Minister of the Federal Capital Territory, Nyesom Wike, has dared his party, the Peoples Democratic Party, to expel him.
Speaking on the possibility of getting expelled from the PDP for anti-party activities, Wike dared those contemplating the move saying, “Nobody can expel me.”
Wike stated this Wednesday evening when he featured on Channels Television’s programme, “Politics Today.”
The immediate-past governor of Rivers State stressed that he had yet to see any leader in the PDP who had the authority to expel him from the party.
“The person who will suspend me is when I couldn’t produce a governor, three senators, Assembly members. I have not seen that person. Nobody will do it,” Wike said.
“Who will discipline me? I should be the one calling for the discipline of these people who violated the party constitution,” the minister added.
He continued, “The way that the party said there must be rotation and you violated the constitution of the party. Who dares say that they will suspend me? Who is that person? I want to dare anybody who will say that.”
He also said he was working for President Bola Tinubu and not the All Progressives Congress, stressing that he owed nobody any apology.
“I am not working for the APC. I am working for Tinubu who has trust in me to help him deliver the Renewed Hope,” adding, “I owe nobody any apology at all. I was in the PDP and I worked for Ahmed Bola Tinubu to become the President of Nigeria.”
The FCT minister also said the Abuja Metro Line was expected to be ready within the next eight months, adding that his administration would restore the FCT masterplan without minding whose ox is gored, saying the wealthy ones in the FCT are the lawbreakers.
“The Abuja metro line would be ready within the next eight months,” the minister said, adding, “Today in this country, who are the major lawbreakers? Is there any poor man who is doing something to distort the master plan of the FCT? Is there any poor man living in Asokoro, that is living in Maitama or Garki? So, what are we talking about?”
[Punch]
H.E. President Bola Tinubu is watching developments unfolding in Gabon very closely and with deep concern for the country’s socio-political stability and the seeming autocratic contagion appearing to spread to other parts of the African continent.
The President, as a man who has made significant personal sacrifices in his own life for the cause of advancing and defending democracy, remains steadfast in his unwavering belief that power belongs in the hands of Africa’s great people and not in the barrel of a loaded gun.
The President affirms that the rule of law and a faithful recourse to constitutional instruments of electoral dispute resolution must not be allowed to perish from our great continent.
To this end, the President will continue to communicate with other Heads of State within the African Union and beyond toward a comprehensive consensus on the next steps forward.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
Ajuri Ngelale, special adviser to President Bola Tinubu on media and publicity, says his principal is consulting with the African Union (AU) to determine the next course of action about the coup in Gabon.
Ngelale, who spoke on Wednesday during a press conference at the State House, Abuja, said the president “affirmed that the rule of law and a faithful recourse to the constitutional resolutions and instruments of electoral dispute resolution must not at any time be allowed to perish from our great continent”.
More to follow…
The coup leaders in Gabon have placed President Ali Bongo under house arrest, hours after he was toppled.
The soldiers also announced that one of his sons has been arrested for “treason”.
In a televised address, the soldiers who said they represent all security and defence forces in the Central African nation, added that Bongo is “surrounded by his family and doctors”.
Earlier on Wednesday, the soldiers cited institutional, political, economic, and social crises as reasons for the coup.
They added that Bongo’s administration had been reduced to an “irresponsible, unpredictable governance resulting in a continuing deterioration in social cohesion that risks leading the country into chaos”.
As elections were wrapping up in Gabon, the government announced a nationwide curfew and cut off internet access.
Media outlets were also banned over “a lack of objectivity and balance”.
The country’s political opposition described the election as a “fraud orchestrated by Ali Bongo and his supporters”.
The coup punctuated Bongo’s family’s 53-year hold on power.
The 64-year old rose to power when Omar, his father, died after ruling from 1967 to 2009.
The Gabon coup comes barely a month after President Mohamed Bazoum of Niger Republic was toppled by a military junta.
Negotiations instigated by the Economic Community of West African States (ECOWAS) to relinquish power to Bazoum have been ongoing since his deposition on July 26.
Buba Galadima, a chieftain of the New Nigeria People’s Party (NNPP), says Rabiu Kwankwaso was given permission by the party to meet with President Bola Tinubu.
Speaking in an interview with Arise Television on Wednesday, Galadima was reacting to the suspension of the party’s presidential candidate in the last election by a faction of NNPP.
On Tuesday, the NNPP’s board of trustees (BoT) led by Boniface Aniebonam, founder of the party, suspended Kwankwaso over allegations of anti-party activities.
But a faction of the party loyal to the former governor of Kano state reversed the suspension.
The faction also suspended Agbo Major, the national publicity secretary of the party.
Kwankwaso has been photographed alongside President Bola Tinubu on a few occasions in recent times.
Galadima said Kwankwaso’s suspension was not the decision of the NNPP because Major who spearheaded it, is not a member of the national caucus of the party.
“Let us establish one fact. Is Major Abgo speaking for himself or speaking for the BoT? Let us establish his own credentials first,” Galadima said.
“I told you who the national exco of the party met in Abuja today and I rolled out who have been here.
“Did Agbo tell you who, himself and who did meet in Lagos? Are they members of the party? And I also said that there is no locus. Do two people only make up a party? Which other member of the BoT was there in that thier meeting?
“State chairmen that we expelled were the ones at that meeting. Preemptive. So, there is no even locus and he is not supposed to know because he is too small to know whether Kwankwaso took permission from the party or not to meet with other interest groups because he is not a member of the national caucus of the party. So, how can he know?
“Kwankwaso took permission from us when he was going to France. Thirteen members of the national caucus of the party met and he put down this issue that the president wanted to see him, what is our opinion?
“And each and everyone of us that was there except myself that did not speak on that day because I knew what led to that meeting.
“He came to inform us that the president invited him to see him and he could not go without taking a permission from the party.
“He (Kwankwaso) came back and told us that the president had asked him to tell his party that he would want to work with them.
“When we agree that we can work together then we will meet with the APC to do the modalities of working together.”
The Lagos Metropolitan Area Transport Authority (LAMATA) says the blue line rail system will commence passenger operations on September 4, 2023.
In June, LAMATA announced that the blue line would be open for passenger operations in August 2023.
Recently, the agency announced that passenger operations will commence on Wednesday.
Speaking on Wednesday, Abimbola Akinajo, the agency’s managing director, said LAMATA has decided that the passenger operations should start on September 4.
Akinajo said Babajide Sanwo-Olu, governor of Lagos, will be on the train for the inaugural operation of the blue line rail system.
“The reason I’m talking to you today is that we said August (for the commencement of train service),” she said.
“We were supposed to be starting today. We decided that we will start on Monday.
“From LAMATA’s perspective, we will be starting commercial operations on September 4.
“For the inaugural ride, we will be hoping that the governor will come and ride with us.
“The first train ride will be at 9am. Mr governor will take the inaugural train ride with members of the public.”
The LAMATA MD said the train operations will start with 12 trips for two weeks, which will be increased to 76 trips per day.
Jubril Gawat, senior special assistant on new media to the governor, wrote on X: “A full journey from Marina to Mile 2 will cost N750. Zonal fares will be between N400 and N500 (for people not making the complete full trip)”.
“The transportation palliative announced by Governor Sanwo-Olu will also cover the train system, meaning that the highest fare for the full trip will be N375,” he said.
In January, former President Muhammadu Buhari inaugurated the first phase of the blue line rail project in Lagos.
Prior to the inauguration, Sanwo-Olu launched a test run of the project which is designed to run from Mile 2 (on the mainland) to Marina (on the island).
The Kano State Hisbah Board says it has procured furniture and other materials for the wedding of 1,800 intending couples under its mass wedding scheme.
Sheikh Aminu Daurawa, Hisbah commander-general, said this when he inspected the items for the wedding on Wednesday in Kano.
He said the government budgeted over N800 millon for purchase of clothing materials, food items, furniture and other necessities for the wedding.
“Each bride will receive a set of bed, mattress and pillows, as well as N20,000 to start up a business. Some philanthropists have pledged to contribute their quota to ensure the success of the wedding.
“One thousand eight hundred couples will benefit from the gesture, which would go a long way in curtailing societal vices and poverty in the society, as many marriages were being postponed, due to inability of parents to sponsor the wedding,” Mr Daurawa said.
Mr Daurawa said the wedding date would be announced.
He added that criteria had been set for the selection of the beneficiaries adding that those who divorced their spouses on flimsy excuses after the marriage would be made to pay back by the government.
(NAN)
The Akwa Ibom government has closed down a Chinese mining firm, Ruitai Mining Company, for failing to produce an operation licence.
Uno Etim Eno, the commissioner for environment and mineral resources, disclosed this to journalists in Uyo.
Mr Eno said the firm could not provide authorisation documents for titanium ore mining in Ibeno.
He said the Chinese company had been mining titanium ore secretly in the area, before it was intercepted and ordered to produce relevant documents.
Mr Eno added that during inspection, it was discovered that the firm could not produce a mining licence as well as an Environmental Impact Assessment (EIA) report to show impact of its operations on the host community.
“The joint ministerial inspection team included the permanent secretary, Mrs Iquo Abia, on arrival at Ibeno community, were conducted round the mining site by the chairman of Ibeno Local Government Area, High Chief Williams Mkpa. The team discovered black clay-like minerals contained in sacks of 50kg, which was identified by the miners as titanium ore,” said the commissioner.
Mr Eno added, “On critical examination of the site amidst tight security, the managing director and director of the company, Zeng Zhonghuan and Huang Ying, were not available at the site. The available staff members could not provide any information or documents.”
Mr Uno said that the ministry of environment discovered that the company was an exploration company while the board of directors are all Chinese nationals not eligible to acquire the small-scale mining licence as claimed.
“Ruitai mining company should terminate its mining operations forthwith, until due clearance legitimising its operation is completed with the state government,” said Mr Eno.
(NAN)
More...
The House of Representatives ad hoc committee investigating non-remittance to the National Housing Fund (NHF) and utilisation of the funds from 2011 has summoned concerned chief executive officers of insurance companies.
Rep. Dachung Bagos, the committee’s chairman, issued the summon following their failure to appear before the committee in Abuja on Tuesday to explain the unremitted fund.
He said the insurance companies should come and explain why they still owed over N267 billion of workers’ investment to NHF in 2019.
Mr Bagos said the National Insurance Commission (NICON) must show proof of insurance companies who were in default of remitting workers’ investments to the Federal Mortgage Bank of Nigeria (FMBN).
He said the insurance companies should come along with all the amount they had remitted to FMBN, adding that they should also provide evidence of sanctions to those who had defaulted.
According to him, in 2019 alone, 54 insurance companies have not remitted N267 billion.
“They need to tell us where the money is. This figure does not include 2020 to 2023.
“We have the law but are not working with the law. Rather, we complain on a daily basis,” he said.
Mr Bagos said the 10th House of Representatives will address the issue, adding that all the concerned CEOs must appear by September 5.
Rep. Kama Nkemkanma (LP-Ebonyi), a committee member, said: “What we are talking about here involves billions of unremitted money; I will want us to be more serious.”
He called on the CEOs of insurance companies to appear rather than send their subordinates, saying there was a need to get to the bottom of the problem.
Rep. Timilehin Adelegbe (APC-Ondo), also a committee member, said the non-remittance of workers’ NHF contributions was not something to joke with.
He said: “For any outstanding unremitted fund, the CEOs should be held responsible, and if they fail by the next hearing, we will publish their names.”
(NAN)
The Lagos State Government has disbursed a total of N2.017 billion in retirement benefits to 644 retirees.
Based on a report by the National News Agency of Nigeria, on Wednesday during a 101st batch Retirement Bond Certificate presentation for retirees in Lagos State, Babalola Obilana, the Director-General of the Lagos State Pension Commission (LASPEC), made the announcement.
According to him, the payment made on Wednesday represented the retirement benefits accrued to these retirees for their past service prior to the inception of the Contributory Pension Scheme in 2007.
Obilana emphasized the significance of the occasion, which aimed to honour and recognize the exceptional retirees who had dedicated their time, energy, and talents to serving Lagos State.
- “It is indeed an honour to recognize and commend the retirees’ hard work and commitment demonstrated throughout their years of service to Lagos State. This retirement bond certificate presentation is not just a formality; it is a moment to reflect upon the remarkable contributions you all have made.”
The Permanent Secretary of the Lagos State Ministry of Establishments, Training, and Pensions, Olawale Musa, lauded Governor Babajide Sanwo-Olu for prioritizing the welfare of the public service workforce, even in retirement.
Musa encouraged retirees to exercise prudence in managing their funds and to make careful choices when considering investment opportunities.
He also reassured the retirees that they could reach out to LASPEC or the ministry for pension-related information or further clarifications.
- “I applaud our retirees for their exceptional contributions and unwavering dedication to the development of Lagos State and pray that their retirement be filled with joy, fulfilment, and new experiences,” Musa remarked.
The Zamfara State chapter of the Peoples Democratic Party (PDP) has raised concerns over bribery allegations of judges at the governorship election petitions tribunal sitting in Sokoto by a supporter of APC in the state.
The concern was raised by the acting Chairman of the party, Mouktar Lugga, while briefing journalists in Gusau, the state capital, on the alleged bribery.
He cited an audio clip circulating on social media posted by one Anas Anka, said to be an APC supporter, in which he claimed that the tribunal judges had been induced with money to write a judgement in favour of the APC.
Lugga argued that in the viral audio, Anka was heard telling his friends how he was contracted by a top APC stalwart in the state with N100 million to also bribe members of the state assembly to commence impeachment moves against Governor Dauda Lawal.
The PDP also called on the National Judicial Council (NJC) to launch a full-scale investigation on the allegation levelled against the panels of the governorship and state assembly election petitions tribunal.
The party appealed to the Department of State Services (DSS) to invite Anka for questioning over the weighty allegations, saying they were capable of causing chaos and disorder in the state.
Furthermore, it called on a former governor of the state, Senator Abdulaziz Yari, to as a matter of urgency, clear himself of the allegations levelled against him.
APC Kicks, Calls For Probe
Meanwhile, the All Progressives Congress (APC) in Zamfara State has in strong terms dismissed allegations of its involvement in a plan to bribe election petitions tribunal judges in the suit by the ruling PDP.
It also denied claims of an alleged move to mobilise members of the state House of Assembly to impeach the governor as contained in a leaked audio by one Anas Anka.
In a swift reaction made available to journalists in Gusau on Wednesday, the APC State Publicity Secretary, Yusuf Idris, said Anka was never a supporter nor a card-carrying member of the APC in the state.
The APC also called on all the relevant security agencies to uncover those behind the audio clip that went viral where Anka was allegedly explaining that he was directed to give a bribe to the judges of the election petitions tribunal to decide the judgement in favour of the party.
[Channels TV]
On August 30, 2023, the Nigerian Armed Forces acquired TOGAN and BAHA Unmanned Aerial Vehicles (UAVs) from Turkish defense companies. This acquisition is part of Nigeria's broader strategy to modernize its defense capabilities, particularly in the areas of surveillance and intelligence. This reinforcement comes as tensions between ECOWAS and the military dictatorships in the Sahel region show no signs of abating.
Togan UAV at IDEF 2019 produced and delivered to Nigeria by STM (Picture source: Army Recognition)
Turkey has become a key player in the global UAV market, with its drones gaining notoriety for their effectiveness in various conflict zones, notably its famous Bayraktar in Ukraine. Nigeria, facing challenges ranging from counter-terrorism to border security, has increasingly turned to Turkey to meet its UAV needs.
Supplied by Turkish defense company STM, the TOGAN UAVs are small, rotary-wing drones designed for tactical-level reconnaissance and surveillance. These UAVs are equipped with a variety of sensors, including cameras and thermal imagers. As part of a $36.5 million project with ASISGUARD and the Nigerian Ministry of Defense, this marks the second international export of the TOGAN system, with STM also in discussions for potential exports to other African nations.
Havelsan, another Turkish defense and informatics company, has also exported its BAHA UAVs to an undisclosed African country, believed to be Nigeria. Like the TOGAN, the BAHA is a small, fixed-wing UAV equipped for tactical-level reconnaissance and surveillance missions.
The acquisition of these UAVs is not an isolated event but part of a larger pattern of military cooperation between Turkey and Nigeria. Last year, ASISGUARD supplied at least 10 armed Songar drones to Nigerian counter-terrorism units. Both nations have also pledged to strengthen their military relations, focusing on areas such as joint training, intelligence sharing, and defense production.
There have also been rumors about the Nigerian Armed Forces purchasing Russian T-90 tanks, as we reported on Army Recognition on August 25, 2023.
Nigeria continues to strengthen its armed forces with multiple deliveries of foreign vehicles, but it is not just a buyer. Nigeria has indeed launched licensed production of Chinese Dong Feng CSK-131 MRAP vehicles. Recent tensions with military regimes in the Sahel, such as Niger, Mali, or Burkina Faso, have clearly accelerated Nigeria's procurement of equipment.
[armyrecognition]