PUTIN WOOS AFRICAN LEADERS AT SHOWCASE SUMMIT, SAYS RUSSIA IS BETTER PARTNER THAN 'COLONIAL' WEST. (PHOTO).

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 Putin woos African leaders at showcase summit, says Russia is better partner than 'colonial' West President Vladimir Putin told African leaders ​on Wednesday that Russia was their best partner, accusing what he cast as a colonial West of still trying ‌to exploit the continent's resources and using debt to hold back development, Reuters reported. The Kremlin chief was speaking at the third Russia-Africa Summit in Moscow, a two-day event attended by African leaders and government delegations from 48 countries, during which he will hold one-on-one talks with many of the 22 individual African leaders ​attending on everything from trade to security, arms deals and grain supplies. "Africa is increasingly asserting itself as one of the key players in the global economy and politics. However, the emergence of a multipolar world is, of ​course, no easy task; it faces resistance from countries that are not prepared to accept this reality: those who are accustomed to ​thinking i...
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SENATE PROBES N11. 35TN SPENT ON REHABILITATION OF REFINERIES. (PHOTO).

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 Senate Probes N11.35tn Spent On Rehabilitation Of Refineries


The Senate has raised an ad hoc committee to investigate all the contracts awarded for the rehabilitation of all state-owned refineries said to have gulped N11.35tn in 13 years.


It also mandated the panel to interrogate the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission, Nigerian National Petroleum Corporation Limited and the Bureau of Public Enterprises on the best approach to commercialise state-owned refineries.


Nigeria’s four refineries in Kaduna, Warri and Port Harcourt had become moribund for years despite the series of repairs executed under various Turn Around Maintenance contracts that had gulped huge amounts.


Karimi, in his motion, expressed concern that the state-owned refineries have been serious drain pipes of public finance, depriving citizens of the joy of being an oil-producing nation.


He said between 2010 and now, Nigeria is estimated to have spent N11.35trillion, excluding other costs in other currencies which include $592, 976, 050.00, 4, 877, 068.47 Euros and 3, 455, 656.93 Pounds, on the renovation of refineries, yet they are unproductive.

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