NEWS: Oil Firms Face Project Delays, Layoffs over Slump in Oil Price

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Budget: Reps committee to meet Okonjo-Iweala, Okogu

On Wednesday, the House of Representatives constituted a 17-member special committee to meet with Dr. Ngozi Okonjo-Iweala the Minister of Finance, on the 2015 budget.

Announcing the reason why the committee was set up, the Speaker, Mr. Aminu Tambuwal,  explained that it had the primary mandate of discussing the crude oil benchmark of the budget with the minister and the Director-General of the Budget Office, Dr. Bright Okogu

The committee is headed by the Chairman, House Committee on Appropriations, Mr. John Enoh, was named minutes after the House rose from a one-hour closed-door session.

The committee was asked to discuss with Okonjo Iweala and Okogu the 2015-2017 Medium Term Expenditure Framework and all the parameters related to the budget.

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Father of attendant set ablaze seeks justice

The father of the 13-year-old bar attendant, Emmanuel Ezekiel, who was allegedly set ablaze by his boss for stealing N1, 500, Mr. Abiodun Ezekiel, has called on the Ogun State Police Command to ensure that the man who killed his son is brought to book.

Emmanuel was said to have been rescued from the fire by residents and rushed to a nearby hospital and was later transferred to the Lagos State Teaching Hospital  for treatment died on the 15th of February as a result of the severity of the burn

Mr. Abiodun, father of the late boy said the money which Shittu claimed his son stole was eventually found, which proved that Emmanuel was innocent, he enjoined the police to intensify their investigations and fish out the killer of his son.

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Oil Firms Face Project Delays, Layoffs over Slump in Oil Price

Contrary to the public posturing by some of the oil companies operating in Nigeria that their projects would not be affected by the slump in the price of crude oil, it was gathered that most of the projects initiated by some of these companies are facing delays or outright cancellation.

Addax Petroleum Development Company, last Monday, sacked over 90 per cent of the contract staff without prior notice, fuelling concern that the slump in oil price is taking its tolls on the company.

The Chinese company, however, said it conducted a detailed review of contractors’ services in line with its business needs, adding that its cost optimisation initiative supports its long-term reflection on how to secure  business sustainability in a challenging economic environment.

Also the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Joseph Dawha, stated that three deepwater projects and one shallow water project would suffer delays or cancellation in Nigeria.

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Microsoft adopts first international cloud privacy standard

Microsoft has become the first major cloud provider to adopt the world’s first international standard for cloud privacy.

Helping to strengthen privacy and compliance protections for its customers in the cloud, the global Information technology ecosystem has recorded a major milestone as .

The new development ensures that enterprise customers can move with confidence to the Microsoft Cloud.

According to Brad Smith, General Counsel & Executive Vice President, Legal and Corporate Affairs, Microsoft, “all of these commitments are even more important in the current legal environment, in which enterprise customers increasingly have their own privacy compliance obligations.

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