TheNewsGuru

Tag: GOLD

  • World Athletics Under-20 Championships: FG to reward gold medalists with $5,000

    World Athletics Under-20 Championships: FG to reward gold medalists with $5,000

    The Minister of Youth and Sports Development, Sunday Dare, on Saturday announced cash rewards for Nigerian athletes who won medals at the ongoing World Athletics Under-20 Championships in Nairobi, Kenya.

    Toyin Ibitoye, Special Assistant (Multimedia) to the minister, disclosed this in a statement saying the cash rewards would see the athletes receiving 5,000 dollars for a gold medal.

    ”The sum of 3,000 dollars is for a silver medal and 2,000 dollars for a bronze medal.”

    He recalled that the minister had pledged to handsomely reward athletes who did well at the championships even before the start of the competition.

    NAN reports that, at the end of Day 4 of competition at the five-day-old championships Nigeria had won three gold and two bronze medals.

    The medal haul has moved Nigeria to third place on the medals table behind hosts Kenya and Finland.

    Nigeria’s 4×400m mixed relay team started the gold rush before Imaobong Uko (women’s 400m) and Udodi Onwuzurike (men’s 200m) won the finals of their events in dominant fashion.

    Favour Ofili (women’s 200m) and Chinacherem Nnamdi (men’s javelin) won Team Nigeria’s bronze medals.

    There are expectations of more podium finishes for Team Nigeria in the men’s and women’s 4×100m relays and the women’s 4×400m relay on Sunday, the championships’ final day.

    NAN reports that medal-winning athletes of Team Nigeria at the just-concluded Olympic Games in Tokyo were also given cash awards.

    This is however the first time athletes to the World Athletics Under-20 Championships would be financially rewarded for their performances.

  • Sports festival: Delta claims first gold; Oyo, Taraba readmitted

    Sports festival: Delta claims first gold; Oyo, Taraba readmitted

    Delta State picked their first gold medal at the ongoing 20th National Sports Festival (NSF) tagged “Edo 2020” on Sunday, after winning in the 80km road race for women.

    TheNewsGuru.com, TNG, reports that Ese Ukpeseraye of Delta prevailed over 12 other cyclists to pick the first gold medal at the 20th NSF.

    Two sisters, Comfort Ayuba and Grace Ayuba, settled for the silver and bronze medals respectively to win for Edo, after winning the second and third positions in the race.

    The competition in the cycling event will continue on Monday with the men and women 1000 metres individual pursuit for two gold medals.

    Meanwhile, Oyo state and Taraba have been readmitted into the festival.

    Teams from both states were barred from participating in the festival following their failure to adhere to the COVID-19 guidelines for the games.

    The games organisers rescinded the decision after the authorities from both states arrived with the certificates in line with the COVID-19 Protocols for the games

  • FG discovers gold deposits along Abuja-Nasarawa Highway

    FG discovers gold deposits along Abuja-Nasarawa Highway

    Gold deposits have been discovered along the Abuja, Nasarawa axis through the National Integrated Mineral Exploration Project being undertaken by the Federal Ministry of Mines and Steel Development.

    Minister of Mines and Steel Development, Olamilekan Adegbite, disclosed this while playing host to the Governor of Nasarawa State, Abdullahi Sule, in Abuja.

    The minister in a statement issued in Abuja on Wednesday by his media aide, Ayodeji Adeyemi, told his guest that the FMMSD would develop the mineral resources in Nasarawa.

    He said his ministry was resolved to avoid a repeat of the Zamfara experience (where bandits were largely in charge of the gold mining) in Nasarawa State.

    He added that the NIMEP project which had cost the ministry N15bn had generated many geoscience data that had foreign investors excited about the mining prospects across the country.

    Adegbite was quoted as saying, “Nasarawa State is the home of solid minerals in the country. We had an earlier discussion about recent discovery of precious minerals in the Nasarawa, Abuja axis.

    “As you probably might be aware, we have been talking about this for a while; there is a programme we call NIMEP executed by the ministry where government has put about N15bn into exploration for minerals, one of which is gold.

    “We have done this exploration across the country and we have discovered a very nice track of gold deposits especially between Abuja and Nasarawa where we share borders.”

    Adegbite allayed the concerns of the Nasarawa State Government about the menace of illegal gold mining snowballing in the state due to the large deposits of gold in the state.

    He said the ministry was working with relevant security agencies to avert such unwanted activities from happening.

    On his part, the governor of Nasarawa state said that his state was prepared to work with the ministry to prevent the snowballing of illegal mining in Nasarawa.

    Sule stressed that his administration was indeed concerned about the threat of illegal mining and its associated vices.

  • BREAKING: FG signs gold production agreement with a $10 billion company in Egypt

    BREAKING: FG signs gold production agreement with a $10 billion company in Egypt

    The federal government has signed a gold production agreement with La Mancha, a Luxembourg-Incorporated Private Gold Development and Mining Company that has a market capital in excess of $10 billion.

    La Mancha signed the expression of interest agreement with the Ministry of Mines and Steel Development to invest in gold mining in Nigeria.

    The signing ceremony was coordinated by the Egyptian African Arab Co. for Devpt (EGAAD) in Cairo, Egypt.

    Minister of State for Mines and Steel Development, Dr Uchechukwu Sampson Ogah signed on behalf of Nigeria, while the Chairman of La Mancha, Naguib Sawiris, signed on behalf of the Company.

    Chairman of La Mancha, Naguib Sawiris disclosed that the signing of the document was its way of formally expressing the company’s interest to begin earnest operations in Nigeria.

    He stated that as a company, La Mancha was continually looking at new opportunities to expand its investment in gold mining across Africa, adding that Nigeria possessed enough gold deposits to attract investment.

    At the ceremony, Dr. Ogah noted that Nigeria stands to benefit immensely from the partnership with La Mancha, with portfolio companies such as Endeavour Mining, Golden Star Resources & others, & with a market capital in excess of US$10bn & over 1.2Moz of gold production.

    “Our ultimate goal is to attract investors with the technical and financial competence to invest in our solid minerals sector, from detailed exploration to mining, development, processing and refining to producing standard ores in Nigeria,” Ogah said.

  • Zamfara gold: Only a bastard won’t support resource control – Festus Keyamo

    Zamfara gold: Only a bastard won’t support resource control – Festus Keyamo

    Minister of State for Labour and Employment, Festus Keyamo has said any Niger Delta son that does not support resource control and fiscal federalism is a bastard of the region.

    Keyamo made the statement on Tuesday as Governors of the South South and leaders of the region met to state their position on the sales of gold by the Zamfara State Government to the Central Bank of Nigeria (CBN).

    TheNewsGuru.com (TNG) reports the leaders of the South South region dropped 7 demands on the federal government at the stakeholders meeting that held at the Government House in Port Harcourt with a Federal Government in attendance.

    In his remarks Keyamo said, “The Federal Executive Council has approved the Coastal Rail line from Lagos to Calabar. The loan for the coastal Rail line from Lagos to Calabar is actually being processed now.

    “The other Rail line from Bonny to Maiduguri which is the Eastern flank has also been approved. That rail line begins from Bonny to Owerri, Makurdi and all the way to Maiduguri and the loans are being processed right now with the Chinese.

    “Congratulations to Governor Okowa because the rails incidentally will begin from Warri and it will either go east west or west west but it will certainly begin from Warri.

    “As for the Ports, Governor Okowa mentioned the issue of the deep sea port and as we speak here, I can show you a message from the MD of RCCI, the contract has been awarded already for the Warri port. It is the deep sea port that they want to establish in Warri.

    “For you to have a deep seaport you need at least 14 meters deep of water but the old Warri Port is about 8 meters deep and it will cost about $100 million dollars to dregde.

    “So what we want to do is that we have been mandated to work with traditional rulers like Olu of Warri and others to try and get a location that is at least close to 14 meters deep and that is where I will beg my brother the Hon Minister of Petroleum, because the channel to go in is also barricaded by the NNPC pipelines and some of them are obsolete so we are thinking of sinking or relocating the pipes for the ships to come in because the pipes are already under the water.

    “In a few days time, myself and the Chinese people will leave for Warri to make some of those investigations. Pessu was actually pencilled down for the port but it is 8 meters deep and I am sure Governor Okowa knows about this.

    *We are all part of the same region, I’m Urhobo like most of you here and when they tell you that the Federal Government should not take loan, tell them that they are taking loans to build railways in other parts of the country, so let us take loan to build our own too so don’t oppose it, we should build our own too with the Chinese loan as well.

    “My elder brother Professor G. G. Darah, let me add to your demands because being here today, also part of you too, making demands from the Federal Government.

    “You didn’t mention the Warri airport which is also very important. Shoreline that was managing the Warri Airport couldn’t pay up all its bills to FAAN. So the Federal Government had to take over the Warri airport, and some of us pursued it here and credit must be given to the Minister of Petroleum and myself because we pursued it all the way.

    “A proposal has been written to the Federal Government for the Ministry of Petroleum to take over the Warri Airport and the President has approved that.

    “They are working on it now and in the next few weeks the Warri Airport will become functional again.

    “So on a last note, I want to say that most of the demands if not all the demands of Governor Okowa as a child of the region who was born and bred in the region, I also support those demands because it is only a bastard who is not born of a father from the Niger Delta that will not support those demands.

    “It is not because we are here today. We will come back home tomorrow and any Niger Delta son that does not support resource control and fiscal federalism is a bastard of the region.

    “So we support it. But I must caution that it must be a collective effort. Do not think that it is the fault from this government. It has always been there. Our son was President. A southerner was President as a Yoruba man.

    “Luckily for us, the Deputy Senate President is the Chairman of the Constitutional Review Committee. Let us take our demands there, let us go and fight our case there.

    “Nobody should dall for the narrative that it is President Muhammadu Buhari that caused the problem why they have not amended the constitution.

    “Let us take all our demands there and let us go and fight it there”.

  • Zamfara gold: South South leaders drop 7 demands on FG

    Zamfara gold: South South leaders drop 7 demands on FG

    Leaders in the South South region of Nigeria have dropped 7 demands on the federal government.

    The leaders made the demands at a Presidential meeting held in Port Harcourt following the sales of gold by the Zamfara State government to the Central Bank of Nigeria (CBN).

    The Chief of Staff to President Muhammadu Buhari, Ambassador Ibrahim Gambari led the federal government delegation to the meeting.

    The six Governors and leaders in the zone in a common position presented by Chairman of South South Governor’s Forum, Gov. Ifeanyi Okowa, made the following demands:

    1. Immediate relocation of headquarters of oil multinational to their operational bases in the South South region.

    2. Immediate relocation of government -owned oil subsidiaries from Lagos and Abuja to the South South region.

    3. Immediate completion of East-West road under construction.

    4. Immediate privatisation of the two refineries in Port Harcourt and the one in Warri for effectiveness.

    5. Call for release of all funds due NDDC and that henceforth, all NDDC projects MUST be done in consultation with State Governors.

    6. Reactivation of sea ports in Calabar, Port Harcourt and Warri. Then, the Lagos to Calabar railine.

    7. True federalism, resource control, fair revenue sharing and State Police, the best ingredients to achieving a better Nigeria.

    South South leaders insist on restructuring, true federalism

    Leaders of the South-South on Tuesday, insisted on restructuring of the country and true federalism, including devolution of powers to the federating units.

    The leaders made the demand at a consultative meeting with a Federal Government delegation with governors, ministers and other stakeholders from the region at Government House, Port Harcourt.

    Chairman of the South-South Governors’ Forum and Governor of Delta, Senator Ifeanyi Okowa, who presented the region’s demand, said that the nation was not at peace because the country had failed to practice true federalism.

    Okowa said that it was time to restore the country back to a true federation with all the attributes and nuances of a federal state.

    “For us in the South-South, the #ENDSARS protest is a metaphor of almost all that is wrong with us, our refusal to properly understand issues, and imbibe and entrench the virtues of justice, fairness and equity.

    “The previous system of true federalism was jettisoned and it created a powerful center controlling and distributing all the resources unevenly.

    “There was now a strong desire to restructure the country in order to guarantee peace, security, stability and progress of the nation.

    “The region demands true federalism and devolution of powers to the states, including creating and managing their own police and security architecture, true fiscal federalism guided by the principle of derivation, revenue sharing and control of resources by each state,” he said.

    He decried the deliberate lack of understanding, empathy and uncompromising attitudes of some Nigerians, who refused to understand the peculiar challenges of the South-South region, especially the degradation of the environment and the pollution of our waters.

    “All we demand and ask for is fairness and equity and as we await actions to restructure the country, we hereby renew our demands for: ‘The relocation of the headquarters of major oil companies in Nigeria to the region; relocation of several NNPC subsidiaries from Lagos and Abuja to the region.

    “The region further requested the completion without delay of the East-West Road and all federal roads in the region; Construction of the Lagos-Calabar railway, reconstruction and rehabilitation of the region’s major seaports notably the Port Harcourt, Calabar and Warri”.

    The leaders also demanded the privatisation of the Port Harcourt and Warri refineries after several failed turn-around maintenance attempts.

    The region called for the release of all funds owed Niger Delta Development Commission (NDDC) and for the amendment of the NDDC Act to place the commission on a first-line charge.

    The stakeholders decried annual flooding challenge in the region and called for the establishment of buffer dams to control flood waters in the region.

    They also called for the completion of the abandoned Gas Revolution Industrial Park at Ogidigben and the stepping down of electricity at the Okpai and Utorogu gas plants.

    Leader of the Presidential delegation and Chief of Staff to the President, Professor Ibrahim Gambari, thanked the people of the South-South for their co-operation, and assured that all issues raised at the meeting would be communicated to the President.

    Gambari apologised for the failure of the meeting to hold on Nov. 17 earlier slated, and said “we are here on behalf of the President as part of the ongoing and continuing conversation on how to make our nation better and I must thank the Governor of Delta, Senator Ifeanyi Okowa, for his tireless effort in ensuring that this meeting held.

    “Our youths took to the streets to express their bitterness on ill-treatment meted out to them by the police and the President, recognising the importance of the demands made by the protesters agreed to implement the five demands.

    “All over the world, people have right to protest but in doing so, the respect for law and order must be adhered to and they must also respect the rights of others.

    “The President commends governors, traditional rulers and other stakeholders for their role in handling the protesters,” he said

    Deputy President of the Senate, Senator Ovie Omo-Agege, on his part, commended the youths of South-South for their peaceful disposition during the protests.

    He assured that all constitutional issues canvassed would be addressed by the Constitution Review Committee and urged the governors to prevail on their Houses of Assemblies to give the necessary concurrence at the appropriate time.

    Inspector-General of Police, Mohammed Adamu, in his remark, said aside the massive economic effects of the protests, 243 public facilities were burnt, 71 warehouses looted, 610 vehicles destroyed, 134 police stations burnt,164 police vehicles destroyed and 136 firearms carted away.

    He added that 65 civilians were killed during the protests and

    37 policemen gruesomely murdered while 196 persons were seriously injured.

    On his part, Director-General, Department of State Services (DSS), Mr Yusuf Magaji-Bichi, said the unity of the country, in spite of the diversity, remained the strength of the nation, adding that all hands must be on deck to ensure that peace returned to the country.

    Rivers State Governor, Nyesom Wike, in a vote of thanks, commended the Federal Government delegation and stakeholders of the region for attending the meeting and urged the federal authorities to ensure implementation of the region’s demands.

  • FG stops South South Governors from meeting over Zamfara gold, Niger Delta oil

    FG stops South South Governors from meeting over Zamfara gold, Niger Delta oil

    Leaders of the South South geopolitical zone have demanded public apology from the Federal Government over botched stakeholders meeting in Port Harcourt on Tuesday.

    Governors of the South South led by its Chairman and Governor of Delta, Senator Ifeanyi Okowa, who were in Port Harcourt for the meeting, had informed the stakeholders comprising traditional rulers, religious leaders, opinion leaders, youths and women from the zone that the Presidential delegation which convened the meeting, had cancelled it.

    Okowa, who spoke for the governors, informed the people that the Presidency gave an emergency security meeting called by President Muhammadu Buhari as reason for cancelling the PortHarcourt meeting.

    Irked by the information, the stakeholders expressed displeasure with the development, describing it as disrespect to the people of the region and called for an immediate public apology from the Presidency.

    They said that the action of the Federal Government amounted to treating the South-South and its people with disdain, and warned on the consequences of undermining the zone.

    But in a solemn appeal to douse tension, Governor Okowa implored the people to remain calm in the face of the disrespect and embarrassment caused by the cancellation of the meeting.

    He said that the governors were as pained as the other stakeholders over the disappointment, and assured that the governors would definitely convey the feeling of the people of the region to the Presidency.

    “We understand the anger in you, and on our own part as governors, we are also angry because the South-South zone is a very important part of this nation.

    “There is no doubt that we the governors also feel insulted and we feel very sad and touched at what has happened.

    “We felt it was necessary to consult with you as critical stakeholders because if we had acted on the information without consulting you, that would have added to the insult already meted to us.

    “Together we call for a public apology because the meeting was not called at our instance; it was called at the instance of the Presidency.

    “Some of us didn’t sleep trying to put things in order to make this meeting a reality.

    “We will convey this message to the Chief of Staff to the President that as a region we deserve public apology, particularly to our traditional rulers and opinion leaders and also to the Governors that you voted into office.

    “This is the least we expect before this meeting can be reconvened,” Okowa stated.

  • ‘Zamfara gold sales may hamper passage of PIB’

    ‘Zamfara gold sales may hamper passage of PIB’

    Financial expert, Mr Pedro Omontuemhen has argued that the sales of gold by the Zamfara State Government to the Central Bank of Nigeria (CBN) may hamper the passage of the Petroleum Industry Bill (PIB).

    TheNewsGuru.com (TNG) reports Omontuemhen expressed this fear on Monday at the Pre-Conference Workshop held ahead of the 38th Annual International Conference of the National Association of Petroleum Explorationists (NAPE) even as South South Governors meet to debate this issue.

    Omontuemhen, a Partner with PricewaterhouseCoopers lamented that already Nigeria has suffered a loss of over $30 billion investments in the oil and gas sector due to the delay in the passage of the PIB.

    He stated that the country cannot afford any further delay in the passage of the bill that is currently before the National Assembly as an Executive Bill, and which has suffered delay for almost 20 years, and had led to uncertainties in the petroleum industry.

    “Investment in the oil and gas sector has reduced and Nigeria has lost about $30 billion investments due to the uncertainties in the regulatory environment.

    “As a country, we need to urgently pass the PIB into law so that we can attract Foreign Direct Investment to the oil and gas industry, ” Omontuemhen said.

    He warned that the PIB would face challenges despite the assurance given by the legislature and the executive on its quick passage.

    According to him, opposition to the bill may likely come from Niger Delta governors who have expressed dissatisfaction with the alleged freedom given to Zamfara State to manage its gold resources.

    TNG reports details of the outcome of the meeting of the South South Governors over the Zamfara State sales of gold are still sketchy at the time of filing this report.

    Meanwhile, Mr Roger Brown, Chief Executive Officer, Seplat Petroleum Development Company Plc at the pre-conference workshop said the COVID-19 pandemic had made it imperative for the oil and gas companies to develop innovative ways of survival.

    Brown said these include reduction in cost of crude oil production to $10 per barrel, capital efficiency, utilisation of technology and strategic partnership among companies.

    He also called on the government to look for further ways of supporting indigenous companies in the sector and create a conducive operating environment.

    Earlier, Mr Alex Tarka, President, NAPE, said the Nigerian economy lost billions of dollars to the lockdown necessitated by the COVID-19 pandemic and crash in the price of crude oil.

    Tarka said Nigeria should therefore brace up for the impact of the second wave of Coronavirus on its economy as some countries had introduced fresh lockdown measures to contain the disease.

    TNG reports the Pre-Conference Workshop of the 38th Annual International Conference of the NAPE has as its theme “Levers for Optimal Cost Reduction in Nigeria’s Oil and Gas Production: Positioning for the New Normal”.

  • Isoko group queries Zamfara gold deal with CBN

    Isoko group queries Zamfara gold deal with CBN

    A flagship socio-political organization of the Isoko nation known as the Isoko Advancement Network (IAN) has warned that the inequalities in the handling of the exploitation of natural resources in Nigeria can trigger youth restiveness in the Niger Delta.

    The group expressed disappointment with the leadership of the National Assembly for blowing a muted trumpet when the matter regarding the sale of gold worth N5 billion by Zamfara State to the Central Bank of Nigeria was raised on the floor of the Senate by the Deputy Senate President, Senator Ovie Omo-Agege.

    In a statement signed by the Chairman of IAN, Chief Paul John Odhomor, the group noted that the deafening silence of the Senators by deliberately refusing to debate the issue on the floor of the Senate sends dangerous signals to the people of the Niger Delta region that contributes so much to the national GDP.

    The statement reads: “The IAN is aware that solid mineral is one of the items in the Exclusive Legislative List of the 1999 Constitution (as amended) like oil and gas. It is incredible that the man from Gusau can sell gold directly to the apex bank and an Isoko man from the Niger Delta cannot sell crude oil and gas directly to the NNPC.

    “The IAN frowns at this negative development and warned that this kind of inequalities in the handling of the exploitation of natural resources in Nigeria can trigger youth restiveness in the Delta. The IAN noted that the youths of the Niger Delta region are already agitated as there was no justification for the criminalization of their activities with oil and gas facilities in the region while their Zamfara counterparts approaches the vault of the CBN as off takers of their gold.

    “The Isoko Advancement Network called on the Federal Government to implement relevant policies towards solid mineral exploration and exploitation with a view to improving the balance sheet of the Country”.

  • Wike rubbishes Zamfara gold comments ascribed to him

    Wike rubbishes Zamfara gold comments ascribed to him

    The Rivers State Government has rubbished comments ascribed to Governor Nyesom Wike in connection with the Central Bank of Nigeria (CBN) purchasing N5 billion worth of gold from the Zamfara State Government.

    TheNewsGuru.com (TNG) reports the Rivers State Government made this known via a statement released on Sunday by the Rivers State Commissioner for Information and Communications, Paulinus Nsirim.

    According to the statement, Governor Wike never expressed unhappiness with the decision of the CBN to buy gold from Zamfara State or demanded that gold should be made a national cake or that he too would proceed to own a gold well in Zamfara State.

    The statement reads: “The attention of the Rivers State Government has been drawn to a completely false and misleading story circulating in the Social Media, that Governor Nyesom Wike of Rivers State made some remarks in connection with a report that the Central Bank of Nigeria will purchase N 5billion worth of Gold from the Zamfara State Government.

    “The purveyors of this barefaced fallacy suggested in their warped story, that Governor Wike was unhappy with the decision of the CBN to buy Gold from Zamfara State.

    “They claimed that Governor Wike who lamented that the same privileged attention has not been given to the oil from Rivers State, demanded that Gold should be made a national cake, adding that he too would proceed to own a gold well in Zamfara State.

    “Let us state here categorically that Governor Wike never made such a statement. Infact, we note with a sense of relief, that no major, mainstream News media or Press Organization, either print, electronic or online, attached to Government House, Port Harcourt, carried this concocted story.

    “So it is a wonder where the mushroom, less than credible social media outlets got the comments, which they claimed Governor Wike made “while addressing the Press.”

    “It has indeed become the ugly penchant in recent times, of some cynical and dubious detractors, to drop or insert Governor Wike’s name in their calculated crusade to ignite unprovoked conflict with the hidden ploy to disrupt the recently emerging warm cordiality which has defined the relationship between him and some leaders across geopolitical divides in the country.

    “These naysayers have also commenced a devious gambit to insidiously tarnish the overwhelming goodwill which the burgeoning image and reputation of Governor Wike has been enjoying across the country and this latest story is simply the latest installment of their failed efforts.

    “Those familiar with Governor Wike will know that he does not need to resort to such churlish and petty grandstanding portrayed in the silly story, to speak up on any matter whatsoever.

    “The write up is thus just another figment of the convoluted imagination of its authors. They goofed big time on this one.

    “Nigerians are therefore advised to completely disregard the story, especially now that the Federal Government, the CBN and the Zamfara State Government have all come out to speak clearly on the matter and set the records straight”.