Forte Oil Records N4.1bn Gross Profit in First Quarter

Group Chief Executive Officer of Forte Oil, Mr. Akin Akinfemiwa

Goddy Egene

Forte Oil Plc was among the companies that reported their results for the first quarter (Q1) ended March 31, 2015. The integrated energy solutions provider posted gross profit of N4.1 billion, compared with N4.1 billion in the corresponding period of 2014. Although the company strived to reduce costs in the areas of sales,, distributions and administration, finance charges rose by 37.5 per cent.

This affected the bottom line in Q1 as profit after tax fell from N1.1 billion to N784 million. However, market analysts said the performance of the company would improve significantly in the quarters ahead as the assets acquired with the banks borrowings begin to yield results.

Forte Oil last year successfully concluded its three-year business transformation that led to a complete turnaround of the company from a loss making entity of N19 billion in 2011 to a profit and a sustainable business entity. The company delivered an annual group profit of N1.1 billion in 2012, N6.5 billion in 2013 and N6.01 billions it in 2014.

The company paid  cash dividend of N250 per share and a bonus of one for five for the 2014 financial year, which where approved  by the shareholders last Wednesday at the 36th annual general meeting of company in Lagos.

Looking at the future of the company,  the Group Chief Executive Officer of Forte Oil, Mr. Akin Akinfemiwa, said the management was confident  the company is on the right path to becoming Nigeria's foremost integrated solutions provider with the unveiling of its five-year growth and consolidation strategy.

"Our quest to dominate the downstream petroleum sector in Nigeria and by extension Africa, remains a key aspect of our consolidation strategy. We are currently pursuing opportunities for mergers and acquisitions in a bid to drive volume, revenues and ultimately maximize profits for shareholders," he said.

According to him,  the organic growth of the company's downstream business through the acquisition of strategically positioned outlets to create an optimised network and drive revenues and profits remains on course.

"We remained committed to making our power business a key driver of our growth initiative by ensuring that it contributes 40 per cent  to our group profit before tax in the near future. To this end, we have contracted and commenced a major overhaul of our 414-megawatts Geregu Power Plant to Siemens AG,"Akinfemiwa said.

Union Assurance Gets $21.8m Capital Injection

Union Assurance Company

In a decisive and bold move to transform Union Assurance Company PLC into a formidable player in the Nigeria insurance industry, the company recently received additional capital injection of $21.8m (N3.7bn) from Greenoaks Global Holdings Limited. Greenoaks Global Holdings Limited successfully acquired Union Assurance Company PLC from Union Bank of Nigeria PLC for N7 billion late last year.

Segun Adesanya, the Chief Financial Officer (CFO) of Union Assurance, said that the additional capital injection ensured that the Company was operating beyond the stipulated solvency margin by NAICOM in addition to its being better positioned to effectively execute improved and impactful underwriting services.  “Our company was recently acquired from Union Bank by Greenoaks Global Holdings and is consequently undergoing a Transformation exercise", he said.

World Bank Projects 60% Growth in Food Demand in Nigeria, Others

Juergen Voegele, World Bank Senior Director for Agriculture

Ndubuisi Francis in Washington DC, USA

Food demand in sub-Saharan Africa, including Nigeria, is projected to grow over the next 15 years by about 60 per cent, and 30 per cent in South Asia, a report just released by the World Bank Group has said.

With 800 million people going to bed hungry every night, countries combating hunger must build better food systems that raise agricultural productivity in rural areas, invest in improving nutritional outcomes for young children and pregnant women, and boost climate-smart agriculture that can withstand a warmer planet, the report released at the ongoing spring meetings of the IMF/World Bank in Washington Dc, United States of America said.

The report titled: “Ending Poverty and Hunger by 2030: An Agenda for the Global Food System,” according to the President of the World Bank Group, Jim Yong Kim “is critically important because it provides an overview of key actions that should be taken to end widespread hunger.”

“Countries should ensure farmers have access to markets, receive fair value for crops, and grow foods that will withstand the rigors of a changing climate. They should invest in food, health, and care for young children and pregnant women, and impro.ve access to nutritious food.

“Taking these steps toward ending hunger can impact other important global issues – it will help end extreme poverty, tackle climate change, and end the scourge of malnutrition that robs many children of a better future,.” Kim said.

The report was released during a conversation on “The Future of Food” between Kim and David Chang, the world-renowned chef and founder of Momofuku restaurants. Their conversation focused on reducing food waste, improving the logistics of managing and transporting food, and boosting nutrition through sharing knowledge.  Civil society leaders from Brazil and Zimbabwe described their work in feeding local communities.

“The historical evolution of the global food system has made possible rapid urbanisation and population growth, contributing significantly to welfare improvements in the world. The impacts on poverty and hunger have been positive and significant.

“Yet we stand at a critical moment in history where we can and must help shape the evolution of the global food system to permanently end poverty and hunger by 2030. Climate change adds to the complexity of this challenge. The agenda is large and will require focused, multi-sectoral approaches, and stronger partnership,.” the report said.

In particular, the report focuses on three areas that can have the greatest impact, including climate-smart agriculture.

According to the document, climate change is projected to reduce crop yields by 15 to 20 per cent in the poorest regions if temperatures rise above two degrees Celsius. This is also where food demand is expected to increase the most.

Agriculture, forestry and other land-use changes account for about 25 percent of harmful greenhouse gas emissions, with emissions projected to increase. The report said the food system must increasingly deliver three wins simultaneously: higher agricultural productivity, greater climate resilience, and reduced carbon emissions.

In the second area, which improving nutrition, the report noted that  higher incomes improve access to food and nutritional outcomes, adding that to help end under-nutrition a broader approach beyond income gains is required while agriculture would need to become more nutrition-sensitive just as nutrition-specific investments will need to be scaled up.

The report cited analysis showing that scaling-up 10 proven, nutrition-specific interventions in 34 countries that have 90 percent of the world’s children with stunted growth could help reduce stunting by 20 percent and prevalence of severe wasting by 60 per cent.

The third area is strengthening value across food chains and improving market access, as  food demand is projected to grow over the next 15 years—by about 60 per cent in sub-Saharan Africa, and 30 per cent in South Asia. The report says that poor farmers need to be better linked to markets to benefit from such growth. The report outlines policy and investment areas to help achieve this end.

“We call for broad action by all on this agenda to end poverty and hunger by 2030,” said Juergen Voegele, World Bank Senior Director for Agriculture.  “The World Bank is committed to partnership and to help shape a global food system that will deliver a healthier and more prosperous world, now and in the future.”

How to open and verify PayPal Account in Nigeria using ATM card

Do you know that you can now open PayPal account in Nigeria and verify it using your bank ATM card without using any usual back door style again?

Few months ago PayPal decided to consider and decided to add Nigeria to their list of supported countries that can use PayPal, which means you don't need any old back door ways to open and run PayPal account as a Nigerian.

First what is PayPal?

PayPal is an international e-commerce business that allows you to securely receive and transfer money through the internet (Online Transactions).

With PayPal you can easily buy or receive payments through the internet unlike our tradition ways such as checks and money orders.

What is back door?

You may not understand what I mean by back door but am sure that some people will understand it especially those who opened or tried to open PayPal account through third parties such as old liberty reserved style, proxy hider and changer software etc.

Initially the only way to open an own a verified PayPal account in Nigeria is through back door you need software that can hide or change your location so that you can appear to be in one of the supported countries or by address forgeries but the good news now is that you don't need all that again to open and run a verified PayPal account in Nigeria because PayPal have officially added Nigeria to their list of supported countries as you can see on the image below.


How to open and verify your PayPal account In Nigeria the easy way

Am happy to tell you that you can open and operate Verified PayPal account in Nigeria easily and safely without any form of fear of your account being blocked if there is no cost for alarm.

To open PayPal account in Nigeria kindly visit www.paypal.com and click register to fill in your personal details accordingly.

Note: Make sure you fill the online form with your original details because you will still need to verify your account with your Bank Visa or MasterCard

How to Verify Your PayPal account in Nigeria using your Bank ATM Visa card or MasterCard
After opening your PayPal account you need to verify your account to remove some restrictions that might hinder you from having full access to your PayPal account.


To verify your PayPal account in Nigeria you need a valid Visa card or MasterCard, I mean your ATM CARD if it is written Visa or MasterCard on the back cover not VERVE CARDS.

The Ecobank Verve card cannot be used to verify your PayPal account at least for now because PayPal don't allow verve cards for now.

If what you have is a verve ATM card then dont worry just go to your bank and request for visa or MasterCard, they will give you a form to fill and submit which will be available and ready in two weeks time for some banks, then use it to verify your PayPal account.

Tested cards is Diamond Bank Visa Card and Gtbank MasterCard and if you already have such card kindly click on the verify notice on your PayPal account and fill required field such as you ATM card code and its security code.

Nigerians allowed to use PayPal now what?

Am sure that you are now happy that you are now fully back to business with PayPal symbol on the screen of your Computer but let not forget why PayPal find it hard to allow Nigerians to use their services all this years simple because Nigeria is known to be one of the corrupted countries without well structured road and street map.

MAY READ: 3 Banking methods in Nigeria ATM Mobile banking and Internet Banking

Let prove them wrong by showing them that we are not corrupted but a country full of hardworking and determined people by staying out of trouble and live right in a wrong world.

Let me hear what you have to say about all this:

Do you have any questions or contributions to add to what I said above, kindly don't hesitate to use the comment box below, I love to hear what you have to say.

Тhе Top Fоur Ways То Маkе Money Online

Author:

kingsley

1) Marketing Іnfоrmаtіоn Products

This іs thе favorite оf mаnу аnd definitely оnе оf thе best ways tо mаkе а lot оf money online. Creating аnd selling уоur оwn іnfоrmаtіоn product suсh аs аn ebook саn mаkе уоu а lot оf money іn а rеlаtіvеlу short amount оf time. Оnсе уоu hаvе created аnd started marketing уоur product, іt саn bе sold оvеr аnd оvеr аgаіn fоr years. Тhе best раrt іs thаt уоu mаkе 100оf thе money frоm sales аnd уоur customers саn download thе ebook аs sооn аs thеу buy іt, sо уоu dоn\'t hаvе tо worry аbоut аnу inventory оr shipping costs. І suggеst еvеrу person whо wаnts tо mаkе money online hаvе аt lеаst оnе іnfоrmаtіоn product bеіng sold аt аll times.

2) Affiliate Marketing

Affiliate marketing allows уоu tо start making money online wіthоut hаvіng tо create аnу products оr services оf уоur оwn. Іnstеаd, уоu market оthеr people\'s products аnd services. Affiliate marketing іs great bесаusе іt іs sо fast аnd easy tо gеt going. Yоu саn literally bе іn business fоr уоursеlf, marketing products аs аn affiliate іn а matter оf minutes. Νоw, асtuаllу gеttіng sales аnd making money аs аn affiliate marketer mау nоt bе quіtе аs easy but it\'s nоt exactly hard either.
Being аn affiliate marketer саn easily supplement аnу product оr service уоu аrе аlrеаdу selling, sо іf уоu аrе nоt dоіng thіs уоu аrе literally leaving money оn thе table. Affiliate marketing саn provide instant profits but уоu shоuld tаkе уоur time whеn choosing companies tо promote bесаusе commission percentages range wіdеlу. Оnе company mау оnlу offer а 5commission реr sale, whіlе аnоthеr company mау offer 75 Usuаllу thе higher, thе better.

3) Google AdSense

AdSense іs а program thаt places relevant ads оn уоur site аnd уоu аrе paid еасh time thе ads аrе clicked bу уоur visitors. Тhе ads аrе created bу Google AdWords advertisers аnd уоu gеt а percentage оf thе price thеу pay fоr thе ad еасh time sоmеоnе clicks оn іt. Іf уоu gеt а lot оf traffic tо уоur site уоu саn mаkе а lot оf money wіth Adsense. І recommend dоіng sоmе rеsеаrсh оn AdSense bеfоrе уоu start usіng thеm bесаusе thеrе аrе а lot оf tactics уоu саn usе tо drastically increase уоur profits.

4) Joint Ventures (JV\'s)

Joint ventures аrе аnоthеr great wау tо mаkе а lot оf money online fairly quісklу. І find thаt joint ventures usuаllу work best wіth іnfоrmаtіоn products. Вut іt dоеsn\'t hаvе tо bе аn іnfоrmаtіоn product; уоu саn dо joint ventures wіth basically аnу product.

This tactic simply involves partnering wіth key individuals іn thе sаmе оr sіmіlаr niche аs уоu. Yоu wаnt thеm tо hаvе websites thаt receive muсh mоrе traffic thаn уоur оwn аnd thеу will lіkеlу hаvе а large opt-in mailing list. Аll уоu hаvе tо dо іs approach thеsе individuals аnd mаkе а proposal. Κеер іn mind thеу gеt approached оftеn sо уоu will hаvе tо gіvе thеm а lot оf vаluе аnd bе vеrу professional. І find thаt gіvіng thеm mоrе profits thаn уоu kеер works well. Аgаіn, thе mоrе generous уоur offer, thе mоrе lіkеlу thеу will wаnt tо partner uр wіth you.

Imagine thе power оf dоіng а successful joint venture wіth sоmеоnе thаt hаs аn opt-in mailing list оf 75,000 loyal subscribers. Аll thеу hаvе tо dо іs send оut а message tо thеіr list wіth а recommendation оf уоur product аnd а link tо уоur site. Іf уоu hаvе а compelling sales раgе аnd уоur product іs high quality, уоu will mоst lіkеlу mаkе а huge amount оf sales аnd а lot оf money.
In conclusion, аll оf thе fоur methods аbоvе gіvе уоu thе opportunity tо mаkе money online. Yоu саn еvеn mаkе huge sums оf money frоm thеm, allowing уоu tо quit уоur job tо work frоm hоmе fоr уоursеlf. Ноwеvеr, thеу require уоu tо learn thе nесеssаrу іnfоrmаtіоn tо work thеm effectively аnd рut іn аn adequate amount оf time аnd effort. Making money online іs nоt easy, but it\'s nоt exactly hard еіthеr. Іt саn definitely bе done!

Article Source: http://www.articlesbase.com/online-business-articles/h-top-fur-ways-k-money-online-7233949.html
About the Author
Kingsley is an Internet Marketer,Freelancer and Business Coach who has helped many folks succeed in internet businesses, if you really want to start making money online, I\'ve just secured you 100free access to James Jordan\'s latest money making product...

Grab Your Free Copy Here
It\'s titled \'Make Money NOW, Today, A$AP\'
and it\'s an incredible, easy to follow manual that will get you earning quickly.

There are strategies that will have cash pouring into your account TODAY, next week and for months to come, powerful stuff!

To Your Success.
.

Amni Terminates Production Sharing, Technical Services Agreement with Afren

Logo of Afren Energy Resources Limited

Ejiofor Alike
The crisis-ridden United Kingdom-listed Afren Plc is facing fresh trouble as its Nigerian partner, Amni International Petroleum Development Company Limited has terminated the Production Sharing and Technical Services Agreement (PSTSA) with Afren Energy Resources Limited, the Nigerian subsidiary of the UK firm.

THISDAY gathered that the relationship between Amni and Afren, a technical service provider to Amni in the operation of Okoro Oilfield had hit the rocks following the termination of the Okoro further field development project in Oil Mining Lease (OML) 112 by Afren without Amni’s consent.

Under a notice of default and termination issued by Amni, the Nigerian firm gave Afren 30 business days to remedy the default or face termination of agreement.

But Afren was said to have failed to provide evidence that it had taken any steps to cure the events of default.

Afren was also said to have publicly confirmed in its recent release of the preliminary agreement on interim funding and refinancing structure and operational update that it did not intend to execute the Okoro full field development plan as approved by the management committee according to the PSTSA.

Following the failure of Afren to remedy the default, Amni has terminated the PSTSA with the UK firm

The Chairman and Chief Executive Officer of Amni, Mr. Tunde Afolabi in a letter dated March 26, 2015 and addressed to the Chief Executive Officer of Afren, stated stated: “We refer to our notice of default and termination dated February 4, 2015 issued in accordance with clause 15 of the PSTSA due to the material default of Afren Energy Resource Limited thereunder.

“We further refer to clause 15.2 (d) which provides that Amni is entitled to terminate the PSTSA in the even that Afren fails to remedy or cure its default in full within thirty (30) business days from the default notice,” the letter added.
Amni said it acknowledged the receipt of Afren’s letter dated March 16, 2015 purporting to respond to its notice letter.

“However, such letter does not address any steps taken by Afren to cure the material defaults set forth in the Amni notice letter.”

Instead the Afren letter only offers a disingenuous explanation for Afren’s breach of the PSTSA and an offer not capable of acceptance by any reasonable person, which includes Amni: (i) waiving its rights under the PSTSA; (ii) accepting half of the liability for Afren’s breach of the WAV contract; (iii) agreeing to negotiate Afren’s liability; and (iv) agreeing in advance to changes in security documents without providing any details whatsoever. We do not believe this proposal was made in good faith and do not accept any part of it as a reasonable resolution for Afren’s material breaches of the PSTSA, “it stated.

The company added that Afren has failed to respond to its notice letter or otherwise provide evidence to it that Afren has taken any steps to cure the events of default set forth therein.

“Consequently, we hereby give notice to terminate the PSTSA in accordance with clause 15.2(d) with effect as of and from the date of this letter.

Additionally, it is the intention of Amni to pursue monetary damages suffered by Amni as a result of Afren’s breach of the PSTSA and willful misconduct, “Amni said.

Auto Binary Signals Forex & binary options trading system REVIEW. Does it really work?

Welcome to one of the few honest reviews you will ever find on the AutoBinarySignals.com website! The ABS system is a classic example of how the “make money without moving a finger” niche is well integrated into binary options. This type of online marketing was first introduced in the late 90’s. The ClickBank affiliate network created a market place between vendors and affiliates who are interested to cash-in on a wide verity of digital products, offered on a ClickBank single pitch page! The Pitch usually includes an introductory video with a professionally done ‘voice over’ and a list of benefits and it goes forever… until somewhere at the bottom of the page you will find a squeeze page where you can fill out your email or checkout, exposing yourself to endless future spam and this is probably your last concern. AutoBinarySignals.com is no different from other similar systems marketed in the same exact way where again, you’ll find a video with cars, women, promises and a load of crap trying to persuade you to subscribe to their products and services. Opted out, log out and click out!

ABS Signals.. A Bullshit System?

YES! Wake up! I’ll give it to ClickBank for forcing vendors to offer a 60 days money back guarantee, HOWEVER the catch is that in order to qualify to Auto Binary Signals you will be required to deposit money with one of the AutoBinarySignals brokers besides the ClickBank refundable subscription fee. On the pitch page they lie and mention that $50 is the minimum required to get started with one of their brokers however the real minimum is $200 with GOptions, Optimarkets and TraderXP and the affiliated brokers.

Another Problem is that TraderXP is considered one of the biggest scams of the binary options industry! Blacklisted on WatchDog, Forex Peace Army, ScamBook, BBB and many other sites so why on earth would they want to send their traders over to a scam broker? Could it be that AutoBinarySignals are only interested in the affiliate commission from the brokers?

Slowly you will begin to see the big picture if you open your mind

“In order to properly understand the big picture, everyone should fear becoming mentally clouded and obsessed with one small section of truth.” Xun Zi

Auto Binary Signals is a SCAM!

There is really no other way to put it, ABS is not a legitimate binary options service. It’s not because they are affiliated with binary options brokers because many signals services do the same! Some are legit and some are fake! It doesn’t take an expert to understand their marketing tactics and understand who is behind this system, I encourage you to take my word for it, this is not a legitimate binary options service! The ClickBank money making scams come in all shapes and forms but they all have common denominators and easy to detect. Don’t fall for the 60 days money back guarantee trap because by the time you’re done registering you will already spend $200+ so it’s not worth it. If you see pictures of beautiful girls, yachts and beautiful beaches you should highly doubt their offer. Binary options is a day trading instrument and there’s no room for sleazy marketing tactics among serious traders, don’t be a fool for these promises, demand that the brokers and services you’re dealing with..keep it real!

I get it! You want to make it fast with Binary Options, but don’t look for short-cuts, you are much better off trading on your own with real strategies and real indicators, instead of paying to some ClickBank scam which can only push you a few steps back and possibly even destroy your experience and discourage you from continuing on a better path. AutoBinarySignals doesn’t work but if you want to test it out I won’t stop you!Snapshot from Auto Binary Signals – I mean REALLY? This is just stupid.

In Clickbank’s defense I would say that there are good signals services and Option Bot 2 is one of them, %99 of the services are BS and that goes for ABS as well, so spare yourself the unpleasant experience and forget about the yachts because you’ll be lucky if you can pay for your next dinner after trading with AutoBinarySignals.com with the rate at which you will lose money. If they get you to deposit money with an unregulated scam brokers, you can forget about the $200 deposit because you probably will never see it again. Do yourself a favor and signup with a reliable binary options broker with a CIF license! CySEC regulateds and positive reviews! Don’t invest with a broker simply because you found them promoted by a sleazy get rich service. Please share your questions or experience if you decided to trade with Auto Binary Signals!