NEWS

‎NNPC, China Sign $50bn MOU On Oil and Gas Development

Published

8 years ago

June 30, 2016

The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) worth 50 billion dollars with some Chinese companies for infrastructure development in oil and gas sector.

Kachikwu Ibe

The information is contained in a statement issued by the Corporation on Wednesday in Abuja.

It stated that “NNPC wishes to announce the recent landmark strides the Corporation has achieved in its bid to bridge the infrastructure funding gaps in the Nigerian oil and gas sector.

“This comes in the form of a first of its kind road show in China, where MoU worth more than 50 billion dollars will be spent on investments in oil and gas infrastructure, pipelines, refineries, power, facility refurbishments and upstream sector.”

The Corporation named the companies involved to include NORINCO, CINDA, CNOOC, SINOPEC/ADDAX, ICC -NDRC, among others.

It added that ICC-NDRC would develop an overarching master plan for the Nigerian oil and gas sector.

This, it stated, would include detailed feasibility study of current status of existing infrastructure in the industry.

“ICC-NDRC will also develop bankable projects that will attract Chinese investors on this Government-to-Government platform. This initiative will move us to a much more profitable and efficient state.

“The master plan will form the basis of massive inflow of further investment from Chinese companies into the sector.”

Commenting on the show, the Corporation stated that it featured over 300 Chinese and Nigerian businessmen to attract investors from China and the Asian sub-region to invest in the country’s oil and gas sector.

It noted that the Minister of State for Petroleum Resources, Dr Ibe kachikwu, went with a team of top management of the Corporation and some stakeholders in the sector.

The roadshow was a follow-up to the earlier working visit of President Muhammadu Buhari to China in April, it
stated.

It commended the support of the companies and assured them of Federal Government’s transparency in ensuring growth in the sector.

Courtesy: News Agency Of Nigeria (NAN)

Related Topics:China Kachikwu Ibe NAN NNPC

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NEWS

Adebayo Salami Celebrates Five Decades In Nollywood

Published

1 day ago

May 17, 2024

Reporter

Adebayo Salami celebrates five decades in Nollywood | Fab.ng

Veteran Nollywood actor Adebayo Salami, also known as Oga Bello, has been in the movie business for 50 years! To celebrate this achievement, the 72-year-old actor posted a black-and-white picture on Instagram with some of his fellow actors. He thanked God for his successful career and wonderful family. Oga Bello also said that even though actors might get tired sometimes, they never truly retire from their passion for acting.

He wrote, “With over 5 decades of committed practice in Nollywood, I am indeed most grateful to Almighty God for His unending blessings over my career and family. Actor only gets tired, actor does not retire. Get ready for what is coming soon.”

View this post on Instagram

A post shared by Adebayo Salami (@adebayo.salami)

Adebayo Salami’s acting career started way back in 1964. He joined a group called Young Concert Party, led by Ojo Ladipo (Baba Mero). This group’s name changed a few times, from Ojo Ladipo Theatre Group to finally Awada Kerikeri Theatre Group. When Baba Mero passed away in 1978, Salami became the leader of the group. This put him in the spotlight and helped him get noticed.

Salami also made movie history. He appeared in the very first Yoruba film ever made, called “Ajani Ogun.” The lead role in that movie was played by Adeyemi Afolayan, the father of well-known actors Kunle Afolayan and Gabriel Afolayan.

In 1985, Salami didn’t just act, he also produced his first movie, “Ogun Ajaye,” with his Awada Kerikeri group. Since then, he’s become a well-rounded movie talent. He acts, directs, and produces movies all the time, making him a big player in the Yoruba film industry.

It seems acting talent runs in the family! Salami has two sons, Femi and Tope Adebayo, who have become successful actors and movie producers themselves.

Get more updates here.

NEWS

Mayorkun Finally Addresses Nicki Dabarbie’s Ritual Allegations

Published

1 day ago

May 17, 2024

Reporter

Mayorkun addresses Nicki Dabarbie’s ritual allegations | Fab.ng

Afrobeats singer Mayorkun has responded to claims made by social media influencer Nicki Dabarbie. She accused him and his colleague, Skiibii (Abbey Elias), of attempting to use her for a ritual.

On April 19, 2024, Nicki Dabarbie accused Mayorkun and Skiibii of plotting to use her for a ‘money ritual’. She supported her claims with pictures and videos describing the incident.

Mayorkun took to his X page to deny all the allegations. He stated that he had never met Nicki Dabarbie and was unaware of her existence before the allegations.

Mayorkun mentioned that he initially wanted to let the court handle the situation, but the spread of false information prompted him to speak out. He stressed that he did not know Dabarbie and warned fans about the dangers of cancellation culture and its potential harm to his life and career.

He wrote:

“You know, I was going to let this remain as a court case but when I checked the comments under some of the blogs where these ridiculous allegations were posted, I was quickly reminded of how gullible most people are on the internet and how they are ready to run along, spreading any negative news without any form of clarity.

“Just for the record, I never met that person on the said day, still never seen that person till this day, never knew about that person’s existence not until those allegations came up.. yet she claimed I put ‘something’ in her drink. A lot of people believed that story, and you think I’ll let this libelous claim fly? No!”

You know, I was going to let this remain as a court case but when I checked the comments under some of the blogs where these ridiculous allegations were posted, I was quickly reminded of how gullible most people are on the internet and how they are ready to run along, spreading…

— MAYORKUN (@Mayorkun) May 15, 2024

He added,

“I wanna re-instate, I have never seen this person before, even as I am typing this! I still haven’t set my eyes on this person.. Like, what else can I say? How else can I prove this? There’s no need for me to ask for an apology where I won’t get any. I just needed to say this publicly and get it off my chest.. cos if it was a case of ‘cancellation’ as many people are quick to do, I for don go back to dey find work for bank.”

He stated that he would pursue additional charges against her, even though she is currently in prison on unrelated charges.

Earlier, Mayorkun had threatened to file a N1 billion lawsuit against Nicki Dabarbie.

Get more updates here.

MOVIES

“Stop Making Films Where Nigerians Travel Abroad Dey Mumu” – Yul Edochie Tells Filmmakers

Published

2 days ago

May 17, 2024

Reporter

Yul Edochie - stop films where Nigerians act foolish abroad | Fab.ng

Nigerian actor Yul Edochie is calling out Nollywood movies for a tired trope. He’s criticising films where Nigerian characters travel abroad and then act immature or foolish.

Edochie believes these portrayals are a bad look for Nigerians. He argues that Western movies typically show their characters going abroad and becoming more resourceful or successful. He wants Nollywood to showcase a more positive and realistic image of Nigerians on the global stage.

“We sell ourselves short with such storylines. Oyibo people will never make a movie where a white man is foolish on African soil. Instead, they’ll make the white man smarter than all the Africans in the movie,” the actor posted on Instagram on Thursday, May 16, 2024.

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A post shared by Yul Edochie (@yuledochie)

He added, “It’s intentional; they use movies to sell themselves as superheroes, while we use ours to run ourselves down.”

Edochie isn’t mincing words. Films like “Osuofia in London,” “Mr Ibu in London,” and “30 Days in Atlanta” are examples of what he’s criticising. These movies all follow the same pattern: Nigerians travelling abroad and then acting out of character.

Edochie is urging Nollywood filmmakers to move away from these stereotypes.

He wants them to portray Nigerian characters abroad in a more well-rounded way. He believes Nigerians can be shown as intelligent, resourceful, and successful on the international stage, not just goofy or immature.

“Let’s make movies where a Nigerian goes abroad and becomes the focal point for Oyibo people.

“He or she always walks with shoulders high, with so much pride and dignity, always on Nigerian wears, and teaches Oyibo people beautiful things they never knew about us.

“Offers traditional solutions to problems and becomes a leader over there.

“Let’s sell ourselves as superheroes as well,” he said.

Yul Edochie isn’t new to the Nollywood scene. He started his acting career in 2005, appearing alongside veterans like Justus Esiri and Enebeli Elebuwa in the movie “The Exquires.” His big break came in 2007 with a starring role alongside A-listers Genevieve Nnaji and Desmond Elliot in “Wind of Glory.”

Interestingly, acting runs in the family; Yul Edochie is the son of Nollywood legend Pete Edochie. He’s also passionate about sharing his knowledge and experience. In 2015, he even founded the Yul Edochie Film Academy in Lagos.

Check out more updates here.