INSPECTION TOUR OF SOUTH-SOUTH ZONE : FASHOLA PREACHES PEACE AS ONLY VIABLE MEANS TO ACHIEVE ECONOMIC RECOVERY, PROSPERITY

* “Everybody wins when there is peace and nobody wins when there is conflict”, he says
* Commends National Assembly, South-South Parliamentarians for support on Infrastructure Development
*Underscores role of FG , Federal Controllers of Works as partners in progress not competitors with States

The Minister of Power, Works and Housing, Mr. Babatunde Fashola SAN has advocated peace in the country as the only means to achieve the overall development of the country saying in the atmosphere of peace everybody wins while nobody wins in a situation of conflict.

Fashola, who spoke while touring on-going Federal road projects across the five South-South States of the country, said in spite of political and ideological differences, the most important objective of the nation was to develop Nigeria for the benefit of all Nigerians.

Crude Oil prices rise to $57 as Saudi Arabia discusses supply cuts

Oil prices rose on Thursday after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to lower global supply.

The Organisation of  Petroleum Exporting Countries (OPEC) promised in November to cut output to help prop up prices.

Under the deal, Saudi Arabia agreed to cut output by 486,000 barrels per day (bpd), or 4.61 per cent of its October output of 10.544 million bpd.

“Aramco is approaching all its customers for possible cuts from February and discussing likely (supply) scenarios,” one source told media referring to state oil giant Saudi Aramco.

NIGERIA RULING CLASS: FANTASTICALLY CORRUPT, FANTASTICALLY BINEPT, FANTASTICALLY INCOMPETENT, AND FANTASTICALLY INSENSITIVE - JAYE GASKIA

President Buhari and British PM Cameron

I know that the most topical issue in Nigeria for a while now and particularly today, at least for the ordinary citizen is the lingering phenomenon of unavailability, scarcity and significant spike in the price of petrol. And for very obvious reasons, not the least today’s astronomical hike in the pump price of the product, this issue will continue to dominate public discourse and shape public action for some time to come.

So knowing and understanding this why do I appear to be focused on corruption and the congenital and historically intrinsic incompetence and ineptitude and insensitivity of the Nigeria ruling class? The reason is simple. The substrate of corruption powered by impunity has contributing significantly to the nurturing of the incompetence, ineptitude and insensitivity of Nigeria’s ruling elites is what has brought us to this penkelemesi, that is this state of peculiar mess to borrow from the immortal expression of one of Nigeria’s first republic leaders, the late Adelabu of Ibadan.

OPEC Unglued: Saudi Arabia Won’t Freeze Oil Growth Unless Iran Has To

No Iran, no deal

Oilfield

The much ballyhooed Doha, Qatar, meetings to freeze production among some OPEC and non-OPEC members, such as Russia, ended without agreement April 17.

The stumbling block: Saudi Arabia’s unwillingness to go forward on holding production steady without cooperation from Iran. After sanctions related to development of nuclear capabilities were lifted in January, Iran has been trying to ramp up volumes. The country's ability to sell oil on the global market had been hobbled since 2011.

By midday April 18, West Texas Intermediate (WTI) had fallen by about 3%. But Doha was a scene reminiscent of Lucy’s propping up a football in Charles Schulz’s famous "Peanuts" comic strip. WTI prices hit more than $42 per barrel April 13 before a more jaded Charlie Brown figured out who was propping up the market.

Crude Oil Price: Doha talks fail, new attempt to reach production agreement possible in June

Oil producing constructions did not manage to sign an agreement to freeze oil production at the January level following six hours of negotiations in Doha on Sunday, but they might hold another round of negotiations in June, Nigerian Minister of State for Petroleum Resources Emmanuel Ibe Kachikwu told reporters.

OPEC and non-OPEC members will probably hold negotiations in June, he said.

Participants in the meeting, including the Nigerian minister and Oman Oil and Gas Minister Muhammad al-Rumhi, said countries need more time to agree on the conditions of an oil production freeze.