Nigeria Content Online

Ghana ends bid for Kosmos oil fields

Ghana National
Petroleum Corporation (GNPC) has given up efforts to buy a stake in the
Jubilee oil field held by Kosmos Energy following the U.S firm’s
decision not to sell, its chairman said on Thursday.

While state-owned
GNPC’s move to end its interest in Kosmos was expected, it will be seen
as significant by investors concerned that the bitter wrangling over
the Kosmos stake was a sign of state interference in the ownership of
oil assets.

Kosmos, backed by
private equity firms Blackstone Group and Warburg Pincus , owns a 23.49
percent stake in the offshore oilfield, operated by Britain’s Tullow
Oil and holding at least 1.5 billion barrels of light crude.

Last August the
firm called off what sources close to the deal said was a $4 billion
pact to sell the stake to ExxonMobil after resistance from GNPC, which
later made a $5 billion joint bid with Chinese oil giant CNOOC.

However Kosmos has
subsequently said the asset is not for sale and announced plans to
raise up to $500 million via an initial public offering of its shares
in the United States.

“That chapter of
GNPC wanting to increase its stake is closed … Kosmos wants to do an
IPO and it is within their rights to do so,” GNPC chairman At Ahwoi
told a news conference.

“I don’t think we
can force them to sell to us at all cost if they don’t want to do so.
So as far as we’re concerned that ends the matter,” he said, adding
that Ghana would still be interested should Kosmos ever put its stake
on the market.

He said GNPC and CNOOC had been partnered in their bid by London-listed BP.

Ghana on Wednesday
lifted a first crude entitlement of 995,259 barrels from Jubilee,
estimated to fetch about $110 million dollars for the state treasury.
Pricing was based on a benchmark of around $110 dollars.

Ghana was fourth to
lift its entitlement after Tullow, Kosmos and Anadarko together lifted
about 3.7 million barrels. GNPC chief executive Nana Boakye Asafo-Adjei
said the first shipment was sold to Sun International, a subsidiary of
U.S.-based Sunoco Inc.

He said in addition to the crude entitlements, Ghana will also receive quarterly tax payments from the Jubilee partners.

Asafo-Adjei said
daily production from the Jubilee field will normalise at 120,000
barrels in June-July, from about 70,000 barrels currently.

Money

BRAND MATTERS: Consumer lifestyle and brand experience

BRAND MATTERS: Consumer lifestyle and brand experience

It is essential for brands to present attractive offerings that will add value to consumers’ experience.

The present market
realities have made brands adopt strategies aimed at engaging consumers
and also building brand loyalty. The lifestyle of the consumer should
be given utmost priority in service delivery.

Brand offerings
should be able to deliver creativity, excitement, and entertainment, as
it fosters physical and emotional connection with the brand. Today’s
consumers are dynamic and vibrant and they want a brand that can fit
into their lifestyle and give them worthwhile experiences.

In fact, consumers
now want to create the brand and own the brand. They want offerings
that meet their desired taste and the brand they can use as a means of
self expression. This supports the “MSP” i.e. Me Selling Proposition
standpoint, which places a renewed focus on the consumer.

This is perhaps the main rationale for DSTV Mobile’s offering of ultimate mobile TV entertainment for the consumer.

When DSTV Mobile
launched months back in the Nigerian market, it was readily accepted
because it represented entertainment, information, and value added
services to consumers. Hitherto, they watched DSTV in the comfort of
their homes, but with DSTV Mobile, television is in their hands. This
is one visible way to build brand loyalty and followership.

A unique selling
point was a free trial for the subscribers, which is key to creating
value. The strategic intention is to align with the needs of the
upwardly mobile and constantly on the go consumers who desire to have
fun and excitement as they move on in their pursuits.

DSTV Mobile is on
both MTN and Glo networks, making it easier for subscribers to have
first hand information and knowledge about happenings around them. This
is a vantage way to connect and build brand loyalty.

Brands remain
vibrant and relevant when they focus on key consumer segments; it has
become imperative to meet the expectations of today’s consumers with
ideas like DSTV Mobile. The consumer culture is rapidly changing and as
a result, brands should adopt strategies to remain relevant.

Brands should also
identify key gaps in the lives of their consumers and bridge these
through innovation and value service. Nigerian consumers have a passion
for football, including foreign football clubs, and this is one area in
which DSTV offers enormous benefits.

Through the mobile
television in their hands, and as long as they are connected to DSTV
Mobile, they cannot miss any of the exciting matches. DSTV Mobile makes
subscribers optimise the quality of their viewing time and also get
premium content and programming on their phones.

Consumers are
attracted to brands that simplify their lives. This is one thing that
DSTV Mobile has done so well. Subscribers will not only be loyal to
such brands, but will ultimately create a community of brand loyalists
by enlisting others to share the same experience. This makes the brand
stand out as one of the very few that matters in the marketplace.

Any brand that keys in to the lifestyle of consumers ultimately creates an enduring experience for them.

Money

Market rebounds after weeks of negativity

Market rebounds after weeks of negativity

The value of equities at the Nigerian Stock Exchange (NSE)
yesterday rebounded significantly after two weeks of negative performances.

The NSE market capitalisation of the 201 First-Tier equities
closed on Thursday at N8.125 trillion after opening the day at N8.059 trillion,
reflecting 0.82 per cent or N66 billion gains.

The market also gained N16 billion on Wednesday after the first
upturn in two weeks. Meanwhile, a total of N505 billion has been lost in the
last ten trading days.

The number of gainers at the close of trading session yesterday
closed higher at 37 stocks compared to the 24 recorded on Wednesday, while
losers also closed lower at 18 stocks as against the 42 recorded the previous
trading day.

Analysts at GTI Capital, a stock broking firm, said, “There
appears a likelihood of the free fall in the market indicators abating soon.
This is based on the fact that magnitude on percentage change in the market
index significantly waned on Tuesday,” adding that “another strong point in
support of this assertion is the attractiveness of most stocks in the market
which we believe will buoyed investment ecstasy soonest.”

Virginus Agada, a stockbroker at Eurocomm Securities Limited, a
stock broking firm, said the market may not see significant recovery this
quarter because of political risk, but will rebound after elections.

“With the level of progress in the political scene, I believe
the market will pick up after the election. You’ll notice that the market
recovered a little after major political parties picked their candidates.

“Although the political risk is currently hindering participants
from coming into the market, things should change after election. International
communities are also watching as events unfold,” Mr. Agada said.

Company report

In the meantime, GlaxoSmithKline Nigeria has notified the
Exchange that its board of directors has recommended to its shareholders a dividend
of 90 kobo per share and an additional one-off special dividend of 30 kobo per
share in commemoration of the company’s 40th anniversary.

The dividends are to be paid to members whose names appear on
the register of members at the close of business on Thursday, April 28.

The register of members and transfer of books of the company
will be closed from Friday, April 29 to Thursday, May 5; both days inclusive.

In a related development, Afromedia reported its first quarter
unaudited results for the period ended December 31, 2010 to the market.

On quarter-to-quarter analysis, the company’s turnover grew by
46.5 per cent from N661.67 million in similar period of 2009 to N969.41 million
but fell short of management forecast figure of N1.03 billion by 5.7 per cent.

Meanwhile, the company’s profit after tax dropped by 16.4 per
cent from N161.09 million in 2009 to N134.67 million.

Money

Shell nears deals for Nigeria oil blocks: sources

Shell nears deals for Nigeria oil blocks: sources

Royal Dutch Shell is close to completing the sale of its stake in four
Nigerian onshore oil blocks after receiving bids from several foreign and local
companies, industry sources close to the deals said.

Shell said last year it had received interest from a number of bidders for
the four blocks it owns along with partners Total <TOTF.PA, Eni and
state-oil firm NNPC as it looked to dispose of non-core Nigerian assets.

The Anglo-Dutch major has not revealed which blocks were for sale but
several industry sources have said negotiations are ongoing over blocks OML 30,
34, 40 and 42, which are all onshore developments in the Niger Delta with
sizeable proven reserves.

Some of these assets hold over 300 million barrels of proven oil reserves
and bids for the largest block have exceeded $1 billion, industry sources said.
Shell confirmed on Wednesday four blocks were still on offer but had no further
comment.

Shell has said it hopes indigenous companies would bid and analysts believe
local players, who are likely to be partnered by foreign oil companies or
independent investors, will have the best chance of securing the blocks.

Oil services firm Petrofac said this week its Nigerian partner Seven Energy
was bidding for one of the blocks, while local players Oando, Vertex Energy,
Niger Delta Ltd and Conoil are all involved in current bids, sources said.

None of these companies were available for comment.

Shell has more onshore oil reserves in Nigeria than any other foreign oil
company but it has also suffered some of the toughest challenges working in the
vast and volatile wetlands of the Niger Delta, the heart of Africa’s largest
energy industry.

Sabotage attacks on pipelines and oil platforms by militants who say they
are fighting for a fairer share of the wealth created in their back yard, have
cut out large chunks of Shell’s output in the past, some of which will never be
restored.

Communities in the Niger Delta blame Shell
for years of oil leaks, gas flaring and other side effects from an energy
business they benefit little from. Shell was forced to abandon its oilfields in
Ogoniland in 1993 due to protests over pollution and a lack of investment in
local infrastructure.

Shell has said it views Nigeria as a key part of its business and the sale
of these assets, which make up a small portion of its business in the country,
is not the beginning of a wider departure from Africa’s most populous nation.

REUTERS

Money

Williams hopes to play again soon after scary moment

Williams hopes to play again soon after scary moment

Serena Williams is receiving daily blood thinning injections to
get rid of the clots that are still in her lungs, the former world number one
revealed on Wednesday.

In her first public appearance since she underwent emergency
treatment at a Los Angeles hospital for a pulmonary embolism, Williams
described the experience as “the scariest moment in my life” but said she was
on the road to recovery and hoping to make comeback. “I had swelling in my leg
which is a tell tale sign of embolism and I could not breath,” Williams told
the Today show on Wednesday. “I remember thinking, I’m walking but I cannot
breathe, that forced me to the emergency room.”

Williams said she had no idea of how ill she really was until
doctors discovered the life-threatening clots during a CAT scan. “Mine went
from my leg to my lung. It travelled fast,” she said. “I still have several
clots in my lung and they are still there. They have to eventually dissolve.
I’m taking it a day at a time.” Williams has not played competitively since
winning last year’s Wimbledon championship in July. Shortly after the victory
she cut her foot on broken glass at a restaurant in Germany.

Possible return

The American has had two operations on her foot since then but
recently developed a haematoma, which she believes was caused by the
combination of her prolonged break and frequent flights. “Because I’m on blood
thinners and on the injections…I must have hit something,” she said.
“Usually, your blood naturally clots around it (but) since I was on blood
thinners it wasn’t able to clot. So what started as a golf ball ended up being
a grapefruit in my stomach.”

Williams has won 13 grand slam singles titles during her glittering career
but has slipped to 11th place on the world rankings during her extended
absence. The 29-year-old said she was recovering from the scare at her
Californian home but was confident of regaining full fitness and returning to
the courts later this year. “I’m feeling better every day,” she said. “Luckily
enough I was able to catch it soon enough that my career won’t be affected. I
love tennis and now, more than anything, I have so much to look forward to.”

Sports

Martins, Ike Uche back in Eagles for Ethiopia

Martins, Ike Uche back in Eagles for Ethiopia

Super Eagles coach Samson Siasia has handed a national team
recall to the duo of Obafemi Martins and Ikechukwu Uche ahead of this month’s
2012 Africa Cup of Nations qualifier against Ethiopia.

They were both included in the 24-man list released by Siasia on
Wednesday in Abuja. Martins hasn’t featured for the Super Eagles since the
conclusion of the last FIFA World Cup in South Africa, no thanks to a dip in
form. But his recent run of games along with his cup-winning strike for
Birmingham City in their Carling Cup final victory over Arsenal ensured he got
a look-in from Siasia. Uche, for his part, hasn’t featured for the Super Eagles
since 2009 no thanks to two career threatening knee injuries. Although the Real
Zaragoza forward was included in the provisional list of players ahead of last
year’s World Cup, his match rustiness, owing to his long injury layoff, ensured
that he was excluded from the final 23-man squad for the tournament by former Super
Eagles helmsman Lars Lagerback.

He however recently made a return to action for the Spanish
first division side, and even got to score a goal in his side’s 2-1 win over
Athletic Bilbao at the start of the month. He now looks set to fight for a spot
in the Super Eagles attack ahead of the all important game against the
Ethiopians scheduled for March 27 at Abuja’s National Stadium. But getting into
the match-day squad won’t be a stroll in the park for Uche and Martins as they
will face stiff competition in the form of Everton’s Victor Anichebe, who’s
also staging a return to the Super Eagles after missing out of the World Cup,
Denmark based Peter Utaka and Warri Wolves’ Ekigho Ehiosun who made a scoring
debut in the win over the Sierra Leoneans. Solomon Okoronkwo, who now plays for
Norwegian side Aalesund after ending his three year romance with Russian side
Saturn Moscow, will also fight for a shirt in the Super Eagles’ attack.

Reunion

It will be a reunion of sorts with Siasia for the 24-year-old
Okoronkwo who was an integral part of the Nigerian sides that finished second
respectively at the 2005 FIFA Under 20 World Cup and the football event of the
2008 Beijing Olympics. Another player who will be reunited with Siasia is
Israel based central defender, Efe Ambrose, who was in the 2005 Flying Eagles
side.

Other members of the 2005 Flying Eagles side in the 24-man list
are: Heartland of Owerri’s Chibuzor Okonkwo, Xanthi of Greece’s Adefemi
Olubayo, Marseille’s Taye Taiwo, Ukraine based Dele Adeleye, and Chelsea’s
Mikel Obi. Inter Milan’s Joel Obi, who made his Super Eagles debut in the
international friendly against Sierra Leone, is also in the side, and he will
be joined by Obiora Nwankwo who could be in lone for his senior debut.

Other players in line for debut appearances against the Ethiopians are AC
Milan youngster Nnamdi Oduamadi, who is a natural right winger, as well as
central midfielder Fengor Ogude of Norwegian side Valerenga. The Super Eagles
presently trail Guinea on the log table after two round of matches. With four
round of matches to go until the end of the qualifiers, the Super Eagles must
win their remaining games to stand a chance of qualifying for the Cup of
Nations ahead of the Guineans, who grabbed a 1-0 win last time out in October
2010.

Sports

Flying Eagles arrive Dubai for Egypt, Saudi friendly

Flying Eagles arrive Dubai for Egypt, Saudi friendly

Nigeria’s U-20 male football team, the Flying Eagles, has
arrived in Dubai, United Arab Emirates, from Antalya, Turkey, in continuation
of the team’s preparation for this year’s African Youth Championship.

The team will play Egypt’s U-20 team today while also keeping a
date with Saudi Arabia’s U-20 side on Sunday, March 13, before returning to
Nigeria on March 14. Sam Ameobi, the younger brother of Shola Ameobi, is
expected to feature in today’s game as Coach John Obuh said he wants to give
the 19 year old a chance to prove his worth.

The Flying Eagles have been in Turkey for over three weeks
preparing for the tournament previously billed to start in Libya on March 18
but the current unrest in the North African country has forced the
Confederation of African Football to postpone the tournament indefinitely. The
team, though undefeated in most of their tune matches, have also not been too
successful outside the 3-0 whiplash of FC Aktov, a Premier League club from
Kazakhstan last week Thursday.

Gunning for glory

The Flying Eagles are gunning for an unprecedented sixth title
at this year’s championship but have been handed a tough draw which sees them
pitched alongside Africa and World Champions, Ghana, and also the duo of
Cameroun and Gambia. The football federation is yet to pick a new host for the
tournament, but there are speculations that last FIFA World Cup host, South
Africa, looks favoured to host the championships, which also doubles as the
qualifiers for Youth World Cup to be staged in Colombia later this year.

Africa has been given four slots, meaning that only the semi finalist at
this year’s event will get a chance to represent the continent at the World
Championships. Meanwhile, as the Flying Eagles get ready to return back to the
country this weekend, the Nigeria Football Federation is already seeking
assistance from state governors that would help foot the bills for the camping
of the team as they await a new date for the championship. Sources close to the
NFF revealed that both the Rivers State Governor, Rotimi Amaechi, and his
Taraba State counterpart, Danbaba Suntai, have both been approached for this
purpose.

Sports

United eye hat-trick of cup defeats for Arsenal

United eye hat-trick of cup defeats for Arsenal

Two weeks ago, Arsenal were dreaming of a quadruple, but by
Saturday evening, after their FA Cup quarter-final against Manchester United at
Old Trafford, they could be reduced to chasing just the Premier League title.

Arsenal were surprisingly beaten in the League Cup final by
Birmingham City, knocked out of the Champions League by Barcelona and missed a
chance to close on United in the Premier League when they drew 0-0 at home with
Sunderland. Manager Arsene Wenger, bristling with fury at the red card for
Robin van Persie that he felt contributed to their 3-1 loss in the Nou Camp,
must refocus his energy as he seeks his first trophy since winning the FA Cup
in 2005. With United also standing in the way of the Premier League title and
the two teams due to meet in the Emirates next month, Saturday’s game is a
chance to gain a psychological advantage.

Tough luck

Arsenal have not won at Old Trafford since 2006, losing there in
the league, Champions League and FA Cup, a 4-0 thrashing in 2008. They are
likely to be without Cesc Fabregas after the captain aggravated a hamstring
strain against Barcelona and will definitely miss first-choice goalkeeper
Wojciech Szczesny after he dislocated a finger. With Theo Walcott also likely
to miss out and Andrey Arshavin struggling for form, it looks a tough task for
Arsenal, also beaten 1-0 at Old Trafford in December. “We’ve we got to pick
ourselves up, we have to go there on Saturday and get a win,” midfielder Jack
Wilshere said. “We are still in two competitions and we want a trophy.”

United have also experienced a mini-slump with back-to-back
league defeats at Chelsea and Liverpool but they remain a formidable force at
home, where they have won 13 and drawn one of 14 league games this season. The
record 11-times Cup winners will be without winger Nani on Saturday after he
suffered a cut shin in the 3-1 Liverpool defeat but Alex Ferguson’s team plans
are likely to remain a secret if the manager maintains a media blackout he
imposed in the wake of the two league defeats.

Other matches

Reading are the only remaining club from outside the Premier
League in the competition after the Championship (second division) side beat
Everton at Goodison Park to reach the last eight for the second successive
season. They face a tough task to go any further, however, as they visit
Manchester City on Sunday. City have probably given up any realistic hope of
winning the league but the Cup offers a great opportunity for their first
silverware since 1976.

After waiting 48 years for a cup success, Birmingham are now
eying two in one season as they host Bolton Wanderers on Saturday. Birmingham
climbed out of the relegation zone with a 1-1 draw at Everton on Wednesday and
manager Alex McLeish faces a difficult juggling act with a series of crunch games
against relegation rivals on the horizon.

Two more clubs taking a break from the relegation fight are Stoke City and
West Ham United, who meet in the Midlands on Sunday. Stoke, who have never
reached the final, lost to Chelsea in the quarter-finals last season but have a
better chance this time to make the semis for the first time since 1972. West
Ham, who lost to Birmingham in the League Cup semi-finals, are back in the
relegation zone and will have mixed views on another drain on their resources.

Sports

‘Falcons will make good in Germany’

‘Falcons will make good in Germany’

Even though this year’s Women World Cup taking place in Germany
in June will be a tough one for Nigeria, the Super Falcons will not be
pushovers. This is the view of team coach, Eucharia Uche.

Uche, who beat the coaches of the Falconets and Flamingoes to
emerge 2010 Coach of the Year at the AIT Football Awards held in Portharcourt
on Tuesday, said the Falcons, who also won the team of the Year at the AIT
event, will mount a serious challenge for the title. Drawn in Group A alongside
defending champions, Germany, France and Canada, the Nigerian ladies have a
tough task ahead of them in the opinion of Nigerian football fans. This belief
is predicated largely on the strength of the 8-0 spanking of the Falcons by
Germany last year after the Nigerian team won the African Women’s Championships
in South Africa.

Different ball game

“Things will be different this time around. No team is going to
beat us by that margin at the World Cup. My ladies are fired up and we will do
our best,” said Uche whose team engages Namibia on April 2 in a tune up match
for the World Cup. On the award won by the Falcons, she said it is deserved. “I
am happy we won the award,” she said. “It is an honour deserved giving the
performance of the ladies. I thank the organisers of the award for recognising
hard work and excellence. My girls have tasted victory and now they know what
it means to win.”

Nigeria has been to all the editions of the FIFA women’s World Cup since its
inception in 1991 but has yet to make it past the quarter-final of the
tournament. Africa’s other representatives, Equatorial Guinea, the team Nigeria
beat to clinch the Africa Women’s Championship, are in Group with Brazil,
former champions, Norway and Australia.

Sports

Super Eagles move up one spot in FIFA rankings

Super Eagles move up one spot in FIFA rankings

A low quality
make-shift friendly match with West African neighbours, Sierra-Leone
counted for so little as the Super Eagles moved just a step up in the
latest rankings released yesterday by world football governing body,
FIFA.

The Super Eagles now occupy the 39th spot in the world rankings.

Though the Eagles
won the friendly against the Leone Stars 2-1, they still remain the
fourth best team in the African continent behind the likes of Ghana,
Cote d’Ivoire and Egypt.

Ghana dropped one
spot to become 16th in the world, but are still the highest ranked
African team with Cote D’ Ivoire as Africa’s second best team; 25th in
the world. Current African champions, Egypt are rated third in Africa
while occupying the 35th spot in the world.

Minor changes

According to FIFA, a total of 55 friendly matches were taken into account for the March edition of the world rankings.

Not many changes
were recorded as world champions, Spain still leads the overall
standing followed by the Netherlands in second and Germany in third
position.

Spain has been the top-ranked team in the world since winning the World Cup last July when it knocked Brazil from the top spot.

Even worse for the
Brazilians is the fact that they have now been overtaken by fierce
rivals Argentina, who now occupy fourth spot in the world rankings
ahead of the five-time former world champions.

England, Uruguay, Croatia, Portugal and Greece complete the list of the top ten teams in the world.

Task ahead

Meanwhile, the
Super Eagles stand a chance of making an upward movement on next
month’s rankings, which will be released by the world body on April 13,
as they have a competitive match ahead of them later this month.

The team will take
on Ethiopia in an Africa Cup of Nations qualifying match at the Abuja
National Stadium on Sunday March 27 with the knowledge that anything
other than a victory over the East Africans will end Nigeria’s dream of
qualifying for the tournament to be co-hosted by Equatorial Guinea and
Gabon.

With just four
round of matches to go until the end of the qualifiers, the Super
Eagles need a convincing victory over the Ethiopians to put back their
Nations Cup participation aspirations back on the track as they
currently trail Guinea on the log by three points.

Naming the squad

Only the top placed
teams from each of the qualifying groups are guaranteed a ticket to the
biannual African championship. But Super Eagles coach, Samson Siasia
has already promised to crush the Ethiopians who are currently ranked
124th in the world and 33rd in Africa.

The list of players to be invited for the must win match will be announced today by Siasia at a press conference in Abuja.

Already there are
speculations over those that may likely make the team list with the
likes of Obafemi Martins, Victor Anichebe and defender, Efe Ambrose
expected to make a surprise return to the Super Eagles team.

The FIFA world rankings are determined by points awarded from match
results in a three-year period, with more recent games given greater
weight while teams get additional points for playing relatively strong
opponents.