Governor Obaseki officially joins PDP – Newsjaunts
Oil prices appreciate Friday after OPEC oil cut pledge

Oil prices rose more than one per cent on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well.
Brent crude LCOc1 futures rose 61 cents, or 1.5 per cent, to $42.12 a barrel by 0639 GMT, the highest in more than a week.
U.S. West Texas Intermediate (WTI) crude CLc1 futures climbed 60 cents, or 1.5 per cent, to $39.44 a barrel.
Both contracts rose about two per cent on Thursday and are heading for weekly gains of nearly nine per cent.
Plans by Iraq and Kazakhstan to make up for overproduction in May on their supply cut commitments supported the market.
The promises came out of a meeting by a panel monitoring compliance by the Organisation of the Petroleum Exporting Countries and its allies, a grouping called OPEC+.
Prices are showing “solidity at these levels, as oil markets ignore the concerns rolling across other asset classes at the moment,” said Jeffrey Halley, senior market analyst at OANDA.
“That suggests that prices are supported by physical buyers (which) is welcome as it implies that physical demand across the globe is recovering, with its implications for economic growth,” he added.
Brent moved into backwardation on Thursday for the first time since early March, with the August contract rising to 9 cents above September LCOc1-LCOc2 on Friday.
Backwardation occurs when near-term contracts are trading at higher prices than outer months, compared with a contango market structure where outer months trade at higher prices.
Fears about dwindling storage capacity had sent the market into steep contango, as wide as $5, as coronavirus lockdowns hit near-term demand and Saudi Arabia and Russia glutted the market with crude in April.
Comments from global oil traders Vitol and Trafigura on a rebound in oil demand in June, reported by Bloomberg, also buoyed the market, ANZ said.
Traders shrugged off another build in U.S. crude inventories to a new record.
Crude stocks USOILC=ECI rose by 1.2 million barrels last week to 539.3 million barrels, compared with expectations from a Reuters poll for a decline of 152,000 barrels.
On the technical side, CMC Markets chief strategist Michael McCarthy pointed to strong resistance in the WTI contract between $40 and $41.
Analysts see that level as the point at which more U.S. producers will revive shut-in wells.
(Reuters)
Nigerian agency clears N1.16trn IT-related projects

NITDA
The National Information Technology Development Agency (NITDA), through its IT project clearance mandate, had assessed and cleared 62 IT related projects worth N1,168,145,213,150 from January to May.
The Director-General of NITDA, Mr Kashifu Inuwa, disclosed this in a virtual meeting monitored in Abuja, organised by the agency’s subsidiary, Office for Nigerian Content (ONC) development.
Inuwa, represented by Dr Usman Gambo, Director, IT Infrastructure Solutions, said clearing of the projects was a prove that President Muhammadu Buhari’s administration was committed to digitalise government services, as most of the projects were service based.
The meeting which focused on “Harnessing Indigenous Solutions for Public Sector Innovation and Digital Development”, was targeted at assessing the nation’s digital experience.
“The assessment shows that about N64,878,725,488 was generated from software products and software enabled projects.
“This has shown that more can be achieved with a deeper collaboration between the public and private sector going forward using technology as a driver for public services.
“For successful development and delivery of government digital services, it is significantly important that innovative Nigerian companies are engaged very early in the project from the conceptualisation and design stages”, he said.
He added that the effect of the pandemic on the economy, governance and public service delivery has spurred a greater urgency for the development of government digital services and digital economy for the country.
Inuwa further said that NITDA would soon issue frameworks for the development of government digital services, public-private sector partnership in its products.
According to him, there is an urgent need for government to accelerate the delivery of government digital services for the benefit of Nigerians.
The director-general said that collaborations would deepen the opportunity for learning and create domesticated solutions for societal problems.
The National Coordinator of ONC, Mr Kassim Sodangi, in his remarks said the key objective for clearing IT projects was to ensure consolidation of Federal Government’s adopted solutions.
“We want to encourage solutions beyond issuing procurement notices, adverts, while Ministries, Departments and Agencies will be able to sit down with indigenous content providers to discuss and come up with a plan or strategy to drive the development of the solution,” he said.
Sodangi added that indigenous content development and adaptation was the pillar of ONC which focused on building local capacity, adopted and deployed as central plan for the development of digital economy.
The coordinator also said that they would assess the Public Procurement Act, explore and examine the Presidential Executive Order 003 and 005 as it affects planning, execution of projects and promotion of Nigerian content in contracts, science, engineering and technology.
“These documents will form the fulcrum for discussing on what can happen and what are the opportunities in the bylaw and policy that will drive the development of co-creation and co-planning of projects.”
He urged MDAs to synergise and explore the frameworks, policy and laws available which could be incorporated in designing programmes and solutions addressing our local problems.
Scores of APC Members decamped to PDP in Ogun
Members of the All Progressive Congress in Abeokuta South Local Government earlier today dumped the broom party for the Peoples Democratic Party.
Due to Covid-19 pandemic restrictions the decampees were represented by selected people from the fifteen wards in Abeokuta South Local Government.
The defection process was witnessed by Alhaji Fasiu Ajadi, Hon Akeem Amosun, Hon Dele Oyetoro, Alhaji Ola, Hon Jamiu Animoowo, Hon Kamorudeen Sodipo, Chief Taofeek Aare, Mr Jamiu Adebayo, Mr Segun Shodeinde and Mr Moruf Olajide.
The decampees promised to work with stakeholders of the Peoples Democratic Party to achieve success as the All Progressive Congress is no more progressive or democratic.
Ladi Adebutu Group Debunks Decamp Rumour – tells fabricators of the rumour to retrace their steps
Strengthen Democracy In Nigeria – ELFON President tells Nigeria Leaders
Democracy day: Nigerians in U.S. advocate ideology based politics

Some Nigerians based in the United States have urged the nation to jettison tribalism, ethnicity and embrace ideology based politics to move the nation forward.
The Nigerians voiced mixed feelings as the nation marked her 21st Democracy Day anniversary.
Speaking with the News Agency of Nigeria (NAN) in New York, they said the country had made progress since the return of democracy in 1999.
According to them, Nigeria is not where it was 20 years ago in the areas of civil liberty, rule of law and socio-economic development.
However, they pointed out some shortcomings, especially “lack of ideology” in the nation’s politics with a call for reforms and change of mindset.
Dr Seun Sowemimo, a New Jersey-based bariatric surgeon, noted the stability in the system since 1999 as something worth celebrating.
“One of the positive things is that at least there has been stability in government.
“There has been one democratically elected government handing over to the other, and that is something we can point at,” he said.
Sowemimo, however, noted that the country had a lot of “maturing to do” in terms of building a strong ideological base for its politics.
“The politics in Nigeria has been very complex in terms of our mix of ethnicity.
“Our politics has been largely tribal, and we have not been able to base it on philosophies and ideas.
“It is more about affiliating ourselves with where we feel the next block of power will come from, and a lot of that has to do with ethnic origins.
“We have to continue to dialogue with ourselves, educate and orientate ourselves that for us to achieve great things we have to improve the level of our politics,” he said.
Speaking in the same vein, Mr Ugo Nwaokoro, former Deputy Mayor of the City of Newark in New Jersey, differed with the notion that Nigeria is complex.
“People often say Nigeria is complex. No! Nigeria is not complex. It is just the mind of our people to be sincere in governance.
“Another problem with us is our ethnic and religious differences, which should not be. Those things can actually be our strength.
“Diversity is a big source of national strength. But how you use it is what matters.
“If we keep seeing ourselves based on the ethnic groups we are from, then there is a problem,” he noted.
Nwaokoro, a writer and policy strategist, also called for attitudinal change among the political elite and the masses to advance the nation’s democracy.
On his part, Mr George Onuorah, a New York-based social justice activist and community leader, pointed out that the challenges in Nigeria’s democracy were not peculiar.
He noted that democracy is “an imperfect system of governance as evidenced from what we can see in so-called advanced democratic countries.”
However, Onuorah called for restructuring of the political and governance systems in the country to “reflect how we live, relate and interact”.
He also advocated investment in civic and voter education, and discouragement of politics based on ethnic, religious and selfish considerations.
Mr Obed Monago, Chairman of the Board of Trustees, Nigerians in Diaspora Organisation, Americas, said Nigeria had made great improvement in the area of freedom of expression.
“Nowadays, people are freer to express themselves with little or no fear of retribution as opposed to the days of Dele Giwa, the late Editor-in-Chief of Newswatch magazine.
“But we can do better if we are able to overcome the obstacles of ethnic, religious and tribal sentiments in our politics,” he said.
Monago also emphasised the need for national rebirth, with a call on Nigerians to sink selfish interests for the good of the country.
Also speaking, Mr Basil Njoku, a community leader, wished Nigerians would exhibit the same level of unity and patriotism in politics as they do in sports.
“The bane of Nigeria’s democracy is the problem of tribalism. We are balkanised into regions.
“We have not been able to come together to understand ourselves as an entity.
“I have not seen Nigerians profess their country except when the nation is in an international soccer competition.
“When there is a goal, a Yoruba does not care whether it is an Hausa man that is with him; they hug and you see the passion.
“I wish we can replicate that in the politics and governance of the day whereby we see ourselves as one and our destiny as one,” he said.
Njoku, who is the President of Mbano National Assembly, an association of U.S.-based Imo indigenes, called for inclusive governance at all levels to foster unity in the country.