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Real Reason We Chose Angola Over Nigeria For $6bn Energy Projects – TotalEnergies CEO

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By Kayode Sanni-Arewa

The inconsistency in policymaking decisions led to the diversion of the $6billion in energy projects to Angola over Nigeria, the Chief Executive Officer (CEO) of TotalEnergies, Patrick Pouyanne, has explained.

Pouyanne, who spoke with panellists of the Africa CEO in Kigali, Rwanda, explained that Angola is a country with a more stable policy framework, which he said every business concerns would first consider before starting investment.

Although the oil multinational boss said the Niger Delta is the most productive region in West Africa, he noted that the erratic policy environment has made investment untenable.

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TotalEnergies has not conducted oil exploration in the region for 12 years, Pouyanne revealed, adding that “Nigeria loves to open topics without closing them”.

He further stated, “You love to debate. There is always a new legislature in Nigeria about a new petroleum law. When you have such permanent debates, it’s difficult for investors looking for long-term structure to know what direction to go.

“In reality, the Niger Delta is the most prolific part of West Africa. But if you look at what happened, because of these debates, there has not been a single exploration in Nigeria for 12 years.”

He added, “It’s important to have a debate and then settle it and put a framework on the table that investors can trust.

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“We have countries that have perfectly integrated policies like Angola. So, we go to Angola and announced a very large $6 billion projects in the beginning of the week because there their framework is stable. So we know where we go,” Pouyanne said.

Insecurity, lack of talent stifling investment, in addition, Pouyanne said that insecurity and the lack of human capital are two of the main issues facing investment in the country.

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Galatasaray technical director opens up on nature of Osimhen’s contract

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Galatasaray technical director Okan Buruk has confirmed the presence of a clause in Napoli’s Victor Osimhen loan deal.
Buruk explains that the January clause in Victor Osimhen’s contract allows the player to explore opportunities with various interested clubs during the January transfer window.

This statement came during an interview on the official website of the Turkish champions, where Buruk discussed various topics related to the team.

During the interview, Buruk explained that Osimhen would like to stay at Galatasaray until the end of the season.

He noted that although there is a transfer clause in force, the player has expressed his intention to stay at the club, which he reiterated from the beginning of his arrival.

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He stated, “Osimhen wants to stay here until the season is over and he has said this consistently. Although there is a clause regarding January transfers, ultimately it is the player’s decision and he feels committed to staying.”

Reflecting on how the club secured Osimhen’s services, Buruk shared: “I traveled to Milan when I had the chance. Because I lived there for three years, I feel comfortable there. We didn’t talk about football during my visit; instead, we enjoyed dinner together for two days, which helped foster a good relationship. After a match against Adana Demirspor, we had a video call at the airport to discuss the options, and after careful consultation with our transfer committee and the president, we completed the transfer.”

Osimhen joined Galatasaray on the final day of the summer transfer window after negotiations with Chelsea and Al Ahly failed to materialize. He quickly adapted to his new surroundings and made significant contributions with eight goals and four assists in just nine appearances in all competitions.

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Ondo: Gov Aiyedatiwa says he’s not aware of vote buying on his behalf

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Ondo State Governor Lucky Aiyedatiwa has stated that he was not aware that his political associates bought votes on his behalf.

This is coming a few hours after he emerged victorious in all the 18 local government areas of the state.

According to report, the incumbent governor and candidate of the All Progressives Congress, APC, was accused of vote-buying after his victory in the November 16 election.

However, speaking in an interview with Channel TV on Sunday night, the governor noted that the oppositions are using the vote-buying allegation as an excuse for their loss.

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“I’m not aware of such. The opposition will want to say that to make excuses for their failure, but for us, it is what we worked for; the people have spoken through their votes.

” There won’t be any reason to buy votes because Ondo people know what they want. I’m not aware of people buying votes on my behalf.”

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Uncovered! World Bank exposes $32m missing funds in Nigeria’s water project

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In Nigeria’s water project, the World Bank has discovered $32 million in undeclared payments.

The banks recently released their FY2024 Sanctions System Annual Report, which included this information.

According to the study, the lost monies were meant to improve Nigeria’s water infrastructure but were not properly accounted for, which led to an intervention to protect the project’s integrity.

“INT followed up on risks identified regarding a project in Nigeria’s water sector and flagged to operations the risk, which was associated with $32 million of unaccounted funds.”

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The World Bank worked with the project team, which included the operations manager, financial management expert, and task team leader for Nigeria, in an effort to retrieve the money.

While $6 million is still in the project account to cover expected operating costs, the Central Bank of Nigeria has requested reimbursement of $22 million.

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