Authorities in South Africa are overwhelmed by looters in the latest round of xenophobic attacks by residents of Jappestown, an area close to Johannesburg. There has been rampant looting of shops, torching of buildings and properties belonging to foreigners, who have been the target, including Nigerians in the riots. Elsewhere rioters have blocked roads and burnt tyres obstructing the movement of persons and vehicles. The police have been caught in running battles with the culprits across parts of Johannesburg. A police statement said 41 people have been arrested following the incidents. Police also fired rubber bullets at looters in another Johannesburg suburb, Turffontein. The chaotic clashes followed the deaths of three people in a fire in an “old building”. While the officials were still investigating with emergency services, people that were around started taking advantage of the situation and looted shops, police spokesman, Mavela Masondo said. The Nigerian and Zambian governments have since issued statements condemning the incidents and cautioning their citizens. Nigeria’s foreign minister is on record as saying South Africa had failed to protect Nigerian businesses whilst Zambia has instructed bus companies and drivers to step down all travel to South Africa till further notice.
Forte Oil is planning to delist its shares from the Nigerian Stock Exchange, following the proposed takeover offer by Ignite Investments and Commodities. The Vanguard quoted various sources as saying that the move by Ignite Investments to propose a takeover offer is to enable it to acquire a controlling stake in Forte Oil. The company has told its shareholders and other stakeholders that the proposed offer by Ignite Investments to other shareholders of Forte Oil is still under review by the relevant regulators and has not been formally launched.
The latest data from the office of Nigeria’s Vice President, Yemi Osinbajo, shows that power generation by the country’s electricity companies reached an average of 3,862MW between January and August, from a monthly average of 3,531MW in the previous months. The constrained revenue during the period rose to ₦395.43 billion, as the country’s power grid or electricity transmission system, suffered a major collapse last Friday, plunging the country into a blackout. Though, the power generation has remained low and insufficient to meet the country’s energy demand. The data specifically showed that the country, in January, lost ₦41.37 billion; February, ₦44.38billion; March, ₦49.35billion; April, ₦49.14billion; May, ₦45.25billion; June, ₦50.30billion; July, ₦57.62billion; and in August, ₦58.01 billion. Last Friday’s collapse of the grid, the ninth between January and August this year, was confirmed by the distribution companies whose coverage areas were rocked by the blackout. The Transmission Company of Nigeria explained that the system collapsed was due to high voltage caused by a massive drop of load by the electricity distribution companies. Within the period under review, the privatised power sector lost the ₦395.43 billion revenue due to constraints, which include the shortage of gas, grid unreliability and distribution limitations. The inability of the FG to block the leakages rampant in its revenue-generating agencies continued in 2018, leading to a financing gap of ₦3.644 trillion in its 2018 budget, the implementation of which ended sometime in June this year. According to the documents from the VP’s office, the deficit represented 2.85 percent of the country’s GDP in 2018.
The founder of Process & Industrial Development, Michael Quinn, has named key Nigerian government officials who played different roles in the process that led to the contract. This is coming amid denials by officials of the President Buhari administration of complicity in the botched gas contract. Quinn named two former presidents, the late Umaru Yar’Adua and Goodluck Jonathan, and the late petroleum minister, Rilwan Lukman, as privy to the contract. Other top government officials he named in the negotiations for the contract include former petroleum minister, Diezani Alison-Madueke; former energy minister, Olatunde Odusina; former presidential adviser on petroleum, Emmanuel Egbogah; former GMD of the NNPC, Shehu Ladan, as well as his counterparts between 2011 and 2012. The then manager (Gas) of National Petroleum Investment Management Services, Labi Ajibade; the MD, Addax Petroleum in 2010, Neil Hitchcock; then Permanent Secretary, Ministry of Petroleum Resources, Goni Sheikh; the director (legal) of the petroleum ministry, Grace Taiga, and a representative of the ministry’s head of policy (Ibrahim). Quinn also named the then Group General Manager/Special Technical Adviser to NNPC (GED, Power & Gas, NNPC), David Ige; representatives of the Department of Petroleum Resources, Ogwu Jones and Sunday Babalola; the then technical assistant to the petroleum minister, Taofiq Tijani; the then general manager of planning, gas and petroleum of NNPC, Uno Adeniji; then manager, gas and petroleum, NNPC (Umar); the then technical adviser to the GMD of NNPC, Nuhu Tizhe; the then assistant legal adviser to the petroleum minister, Belgore; Debo Spaine of Addax Petroleum, and Mohammed Kuchazi of P&ID. However, mentioning of these official does not imply any wrong-doing on their part, Quinn said.