At a Christie’s auction in November 2017, the San Francisco billionaire and CEO of Salesforce, Marc Benioff, got in a bidding war ultimately paying more than $7 million to buy a rare carving of the Hawaiian god, Ku. He later donated the idol to Bishop Museum in Honolulu, Hawaii. Commenting on the timing of this…
The Youth Enterprise Support Programme (YES-Programme) is BOI’s approach at addressing the worrisome phenomenon of youth unemployment in Nigeria by developing the capacity of the youths and funding their business ideas. The YES programme is aimed at equipping young people with the skills and knowledge to be self-employed by starting and managing their own businesses.
Participants will be drawn from young aspiring entrepreneurs between the ages of 18 and 35 years, with innovative ideas who must have a minimum educational qualification of an Ordinary National Diploma (OND).
COMPONENTS OF THE YES-PROGRAMME
The YES-Programme comprises the following:
PROGRAMME OBJECTIVES
The YES-Programme has the following broad objectives:
Applicants will register online and will be expected to provide accurate answers to questions. Such answers count towards determining the suitability of the applicants for the training programme. Only the top 1,200 online participants will qualify for the in-class training programme annually.
The in-class trainings will be delivered by BOI accredited partner Training Institutes and shall take place on a bi-annual basis at selected centres spread across the six geo-political zones. Hence, 600 participants shall be trained at the designated locations bi-annually.
The final evaluation and selection of the candidates that will qualify for funding under the YES-Programme, will be by a seven-man panel made up of senior management staff of the Bank and other eminent members made up of successful entrepreneurs, professionals, retired bankers, etc.
FEATURES OF THE FUND
| PROJECTED IMPACT | The fund shall be deployed to support the establishment and/or expansion of an estimated 1,200 enterprises promoted by Nigerian youths across the country. The scheme is expected to create a minimum of 6,000 direct jobs and 30,000 indirect jobs annually, totaling 36,000 jobs. |
| PROGRAM LIMIT | N10.0 billion. |
| SINGLE OBLIGOR LIMIT | Up to N5 million for loan.
Equity investment could also be considered on a case-by-case basis. |
| APPROVAL LIMIT | In line with the Bank’s approval limit. |
| PRICING | Interest Rate: 9% per annum.
Fees: 1% Processing fee. |
| TENOR | 3 – 5 years. |
| MORATORIUM | Six (6) months from date of Loan Disbursement. |
The official launch of the Youth Entrepreneurship Support (YES) Programme took take place at the Transcorp Hilton Hotel, Abuja on Thursday, 17th of March, 2016 at 10:00am. To Apply Please click Here
This interesting prayer was given in Kansas, USA, at the opening session of their Senate. It seems prayer still upsets some people.
When Minister Joe Wright was asked to open the new session of the Kansas Senate, everyone was expecting the usual generalities,
but this is what they heard:
“Heavenly Father, we come before you today to ask your forgiveness and to seek your direction and guidance. We know Your Word says: “Woe to those who call evil good”, but that is exactly what we have done.
* We have lost our spiritual equilibrium and reversed our values.
* We have ridiculed the absolute truth of Your Word and called it Pluralism.
* We have worshipped other gods and called it multiculturalism.
* We have endorsed perversion and called it alternative lifestyle.
* We have exploited the poor and called it the lottery.
* We have rewarded laziness and called it welfare.
* We have killed our unborn and called it choice.
* We have shot abortionists and called it justifiable.
* We have neglected to discipline our children and called it building self-esteem.
* We have abused power and called it politics.
* We have embezzled public funds and called it essential expenses.
* We have insitutionalised bribery and called it sweets of office.
* We have coveted our neighbor’s possessions and called it ambition.
We have polluted the air with profanity and pornography and called it freedom of expression.
* We have ridiculed the time-honored values of our forefathers and called it enlightenment.
Search us, Oh GOD, and know our hearts today; cleanse us from every sin and set us free.
Amen!”
The response was immediate. A number of legislators walked out during the prayer in protest.
In 6 short weeks, Central Christian Church, where Rev. Wright is pastor, logged more than 5,000 phone calls with only 47 of those calls responding negatively. The church is now receiving international requests for copies of
this prayer from India, Africa and Korea.
With the LORD’S help, may this prayer sweep over our nation and WHOLEHEARTEDLY become our desire so that we again can be
called “ONE NATION UNDER GOD.”
10 RICHEST PEOPLE IN THE WORLD IN 2014
As will be considered about these people, “time and chance happens to them all”. In the next 20, 30 years the world will be looking for a list like this. Your action today will determine your worth tomorrow. After going through each of these business moguls’ background, all I could ask myself is how dedicated are you to your course in life. If being wealthy in life does not stop you from gaining eternal life in Christ Jesus, then it will be a lot of havoc done to yourself by taking keeping wrong opinion about riches. God has it in abundance but very few are tapping into it. You don’t have to cheat, kill, steal or serve the devil to get there. Good thing and research can get you there.
Here are the list of the top 10 richest people in the world in 2014.
1) Bill Gates:
Bill Gates is definitely the richest person in the world and he has held the second richest person in the world title for three years and now in 2014, he has acquired the top position in the list. He is the co-founder, CEO, chairman and Chief software architect in the Microsoft which is the world’s biggest program developing company. Bill gates have around $76 billion of worth of property, investment and shares in different companies. starting from zero.
2) Carlos Slim Helu:
This is the person who held the top rank in world’s richest people from 2010 to 2013 and now he has acquired the second position in this list. Carlos Slim is a Mexican businessman and he is involved in number of Mexican companies related to communication, technology, retailing and finance. Wealth of Carlos Slim is worth $68.8 billion and he also saves the title of the most donating person in the world. started from zero.
3) Amancio Ortega:
This is a Spanish businessman who is one of the top retail businessmen around the world. He owns number of companies and he is the CEO of Spanish clothing company; The Inditex Fashion Group which has hundreds of shops and outlets around the world. Amancio has net worth of $63.8 billion and has acquired the 3rd richest person of the world.
4) Warren Buffett:
Warren Buffett is the fourth richest person of the world and has net worth of $63.3 billion in the year 2014. He is the co-founder and chairman of many investment companies and has the name of the most sounded investor around the world. He is the CEO of Berkshire Hathaway, an American multinational company that is most famous for donating its 90% income to the charity.
5) Larry Ellison:
With net worth of $49.3 billion, Larry Ellison is the fifth richest person in the world in this year of 2014. Larry is heavily involved in technology industry around the world and he is the CEO of Oracle which is one of the computer programming companies around the world. Larry was the third richest person in the world last year and now he has acquired 5th position in this list. Have you struggled before, ask him how it feels.
6) Charles Koch:
Charles Koch along with his brother is the world’s 6th and 7th richest person and they own the Koch industries which is a well known name in manufacturing industries around the world. Charles is the CEO of the company and along with their heritage Koch industry; he is also the chairman of number of other companies. His total worth is around $40.1 billion equal to his brother.
7) David Koch:
David Koch is the younger brother of Charles Koch and he is the other owner of Koch industries with his older brother the CEO of the company. The worth of David Koch is also $40.1 billion equal to his older brother.
8) Sheldon Adelson:
Sheldon Adelson is also a well known name in casino business and he has $39 billion worth and the richest person involved in casino and gambling business. Most of his worth comes from the same business but he is also involved in many other investment companies.
The story of Sheldon Gary Adelson, born in the poor Dorchester neighborhood of Boston, Massachusetts, in 1933, is a classic American rags-to-riches story. Sheldon’s father drove a taxicab and sold advertisements, and his mother ran a small knitting store. Sheldon start working at a young age selling newspapers, and by age 12 he owned his first business, selling toiletries.
9) Christy Walton:
Christy Walton is the world’s richest woman in 2014 and in this list, she has acquired 9th position. From the Walton family, she inherited the money after the death of his husband John Walton and currently she owns more than $37.6 billion which is $3 billion more than her brother-in-law, Jim Walton.
10) Jim Walton:
From the same Walton family, Jim is the younger brother of John Walton and he owns $35.2 billion inherited from his father. He is the son of the founder of world’s largest retailer, Wal-Mart. Along with the Wal-Mart directorship; he is the owner and CEO of Arvest Bank, another business of Walton family.
From the list of the 10 richest people in the world in 2014, they all have something in common. They are Billionaires. I will like to add that going to the grave for this people is going to be a pleasure since there grave will be empty some how if not totally empty.
YOU WILL GET CANADIAN IMMIGRATION details at your finger tips when you contact La Comfy – info@lacomfytravels.com
Meet our consultant for every assistance you may need, in no time you will forget you ever had challenges about travelling to Canada.
Canada and Nigeria established diplomatic relations at Nigeria’s independence in 1962. In Nigeria, Canada is represented by its High Commission, which opened in Abuja in 1999. Canada also has a Deputy High Commission, which opened in Lagos in 1999. Canada was previously represented in Nigeria by a High Commission located in Lagos from 1960 to 1997, when it was closed due to the political situation. Since 2004, Canada has an Honorary Consul in Port Harcourt. Nigeria is represented in Canada by a High Commission, which opened in Ottawa in 1973.
Canada enjoys strong and increasing bilateral relations with Nigeria, which is one of two strategic partners for Canada in sub-Saharan Africa. We share values such as multiculturalism, institutions such as federalism and Commonwealth membership, and people-to-people ties which provide a solid foundation for increased engagement.
Recent high-level visits have served to strengthen the bilateral partnership:
Canada welcomes Nigeria’s leadership in African and global affairs, most notably through its significant contribution to international peace operations. Nigeria is the second largest troop contributing African nation and the fifth largest globally, with over 4,700 personnel deployed in Sudan and Liberia alone. Nigeria contributed over 1,000 military personnel and several aircraft in support of the UN Security Council-mandated African-led International Support Mission to Mali (AFISMA).
Canada recognizes and appreciates Nigeria’s leading role in the 15-member Economic Community of West African States (ECOWAS), which is among the strongest and most coherent of Africa’s international institutions. ECOWAS plays a key regional role in resolving armed conflict and political crises, as in Côte d’Ivoire, Guinea, Guinea-Bissau, Liberia, Mali, Niger and Sierra Leone; handling security issues such as illicit trade in small arms and light weapons, terrorism and human trafficking; and promoting regional economic integration.
Nigeria is Canada’s largest bilateral merchandise trading partner in sub-Saharan Africa, and trade between Nigeria and Canada has increased more than threefold since 2007 despite the drop in 2013 mainly due to decreased oil imports. In 2013, Canada’s bilateral merchandise trade with Nigeria totalled $1.6 billion. Canada’s exports to Nigeria have increased significantly since 2003 and were $463.3 million in 2013. Canadian merchandise imports from Nigeria consist of mineral fuels and oils, cocoa, rubber, lead and processed foods, totalling US $1.2 billion.
The Canadian business presence in Nigeria is substantial and multi-faceted. Canadian interests cover a full range of key sectors, including oil and gas, telecommunications, and manufacturing equipment, aeronautics, energy, and engineering and education services. New areas with high potential for growth are mining technology as well as transportation. Recent and ongoing efforts to reform the banking sector stand to establish a more conducive foreign investment environment, creating potential opportunities for Canadian firms.
Canada signed a Double Taxation Agreement with Nigeria in 1992. On May 1, 2013, Prime Minister Harper announced the conclusion of negotiations towards the Canada-Nigeria Foreign Investment Promotion and Protection Agreement (FIPA), marked by the signing of a letter of Intent by Minister Fast and his Nigerian counterpart, Minister Aganga. The FIPA was signed by Minister for International Development Paradis and Minister Aganga on May 6, 2014 during the Minister’s visit to Abuja.
Canadian and Nigerian officials have exchanged proposals for an Air Transport Agreement. Canada’s primary interest – the ability to offer code-shared services between the two countries on airlines of third countries – continues to pose a challenge for Nigeria. Further discussions are likely to take place later in 2014.
In the area of development cooperation, Foreign Affairs, Trade and Development Canada (DFATD) is focusing its support, which totalled $43.39 million in fiscal 2012-2013, on strengthening health care delivery at the community level, preventing and treating major illnesses that contribute to maternal and child mortality, and helping to eradicate polio. This assistance is aimed at reducing the maternal mortality rate in Nigeria, which is high at 630 deaths per 100,000 live births in 2010. The neonatal, infant and under-five mortality rates are similarly high and the country has the second highest rate of newborn deaths worldwide.
To promote sustainable economic growth, Canada is developing new programming aimed at increasing employment and business opportunities for Nigerians. Support is also provided in the area of democratic governance. Canada provided support to the 1999, 2003 and 2007 elections and also has an ongoing project running until 2015 to support the long-term electoral cycle. Since September 2010, Canada sponsored technical assistance to Nigeria’s Independent National Electoral Commission. Canada continues to provide support to groups and institutions that work to strengthen democracy, accountability, good governance, and religious freedom in Nigeria.
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* 3GB – N4,200
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And you have 24/7 internet access , No period limit.
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HOW DO YOU BUY IT?
To buy these data packages, subscribers are requested to make payment using any of the
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1) Online Payment via Quickteller or other Internet Cash Transfer Platforms. 2) ATM Cash
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You may have to do this, if you find yourself in a little mid-week or mid-day slump, take a few moments to re-energize yourself with these inspiring quotes from some of the world’s greatest thinkers. Sometimes, all it takes is a little reminder to boost your spirits and refocus your day.
Happiness is an attitude. We either make ourselves miserable, or happy and strong. The amount of work is the same.
Francesca Reigler
When one door of happiness closes, another opens, but often we look so long at the closed door that we do not see the one that has been opened for us.
Helen Keller
“You have brains in your head. You have feet in your shoes. You can steer yourself, any direction you choose.”
Dr. Seuss
Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.
Steve Jobs
Instead of wondering when your next vacation is, you ought to set up a life you don’t need to escape from.
Seth Godin
The problem with the rat race is that even if you win, you’re still a rat.
Lily Tomlin
A man should never neglect his family for business.
Walt Disney
Don’t say you don’t have enough time. You have exactly the same number of hours per day that were given to Helen Keller, Pasteur, Michaelangelo, Mother Teresea, Leonardo da Vinci, Thomas Jefferson, and Albert Einstein.
Someone once told me that ‘time’ is a predator that stalks us all our lives. But I rather believe that time is a companion who goes with us on the journey and reminds us to cherish every moment because it will never come again.
Jean-Luc Picard
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.
Charles Darwin
Opportunity is missed by most people because it is dressed in overalls and looks like work.
Thomas Edison
You miss 100 percent of the shots you don’t take
Wayne Gretzky
Do or do not. There is no try.
Yoda
Those who say it can not be done, should not interrupt those doing it.
Chinese Proverb
Whatever the mind of man can conceive and believe, it can achieve. Thoughts are things! And powerful things at that, when mixed with definiteness of purpose, and burning desire, can be translated into riches.
Napoleon Hill
You are not your resume, you are your work.
Seth Godin
Far and away the best prize that life offers is the chance to work hard at work worth doing.
Theodore Roosevelt
Even if you are on the right track, you’ll get run over if you just sit there.
Will Rogers
Yesterday’s home runs don’t win today’s games.
Babe Ruth
If you work just for money, you’ll never make it, but if you love what you’re doing and you always put the customer first, success will be yours.
Ray Kroc
When writing the story of your life, don’t let anyone else hold the pen.
Harley Davidson
A professional is someone who can do his best work when he doesn’t feel like it.
Alistair Cook
Happiness is not something you postpone for the future; it is something you design for the present.
Jim Rohn
Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.
Thomas Jefferson
I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.
Michael Jordan
People inspire you or they drain you – pick them wisely.
Hans F. Hansen
The Pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.
John Maxwell
Whether you think you can or whether you think you can’t, you’re right!
Henry Ford
When you change your thoughts, you change your world.
Norman Vincent Peale
A man is but the product of his thoughts. What he thinks, he becomes.
Mahatma Gandhi
There are two primary choices in life: to accept conditions as they exist, or accept the responsibility for changing them.
Denis Waitley
I hope you find these quotes as inspiring as I find them. Let me know your thoughts and also please share your favorite inspirational quote in the comments below.
HOW to Start MINI IMPORTATION BUSINESS
Right in your bed room
Import With As Low as N25,000 And Make More Than N150,000 in a month.
DO YOU KNOW THAT MAKING MONEY IS NOW A MARATHON RACE
I offer you the secret @ a very cheap rate and the easiest process
I know that going into importation is not a new business but you can’t imagine how much income in flowing into bank accounts owned by young men like us. With importation you purchase the original product directly from the manufacturers and secondly, you are buying at a price that is very low compared to your very high margin of profit.
Have you imagined making N800, 000 in a month from just ordering for goods? You can guess but what about going through the right channel.
I personally had to change my types of account because of the CBN policy and extra charges on OVERFLOW ON CASH DEPOSIT to my bank account. And size of amount my account can hold both current and savings account.
Order now for THE A-Z OF MINI IMPORTATION BIZ and get a bonus share of how and where to raise N500,000 without stress.
WHY CHOOSE A-Z OF MINI IMPORTATION BUSINESS
QUANTITY ADVANTAGE: the minimum order of MIBs is 1 unit or 1 piece or 1 item. You can import just 1 iphone or 1 radio set or 1 laptop or 1 phone charger. However, I like to order for ladies and gents products. For more people who need the products.
Payment method: is internet banking related and in most cases, you are not charged for making payments.
Secondly, payment is based on preferred system and convenience. You can make payments anywhere and anytime. You can make payments without leaving your room.
Order Cancellation: You do not have to wait for months before your money comes back to you.
Secure Platform: payment is done on secure platforms. If the one you are making payments to is not genuine, he does not receive your money.
And again, most of your payment gets to the seller after the buyer has received products. Wow! This makes it a very strong and reliable way to pay for your orders.
Charges are minimal if any: in most cases there are no charges attached to online purchases.
Order Processing: You do not have to always contact sellers before your order is processed because. It starts as soon as you place order. Only that you must order what you want, besides you can drop some and pick another
Tracking of Orders: is made very simple. As soon as you make your payments, tracking number is issued to you and you can use this to access the status of your product and the destination where it is at any point in time.
Funding required: you do not need much money to go into MIB. You simply need as little as N7,000 to start.
Delivery time: is often shorter (3, 6 days and at times 21 days depending on your sellers) and orders are mostly sent through air/cargo.
Free Shipping: Most of the times, you do not pay for the courier that sends the products to you. The seller has pre-arrangement or contract with the courier to send items to their customer’s free-of-charge.
Receive your orders before you pay: Your payments are not released to the seller until you receive your ordered items. Secured process of saving your transaction has been entrenched by payment platforms to secure your payment.
Would You Be Among The first 20 Lucky People?
If Yes
How Much is Involve To get it for you
After taking survey online I said, I will charge N10,000 for each copy.
But I know N10,000 is a great risk to some and my plan is to join the race of raising YOUNG MILLIONAIRES before year 2020. To be Kind enough I ask you to pay affordable fees
So How Much
I will give the opportunity to the first 20 people at a token of N3,000.
NOTE: After independence anniversary, the price goes up. This is a new and best way discovered, a secret that most importers have not known yet.
So hurry now and get yours, because what you are about to own is worth more than its price. It’s now available to you today at a bonus price.
You can pay to any of these accounts through cash or online transfer
Account Name: SOMOYE OLATUNDE PETER
Account Number: 0016287771
Account Type: current
Account Number: 3021535993
Account Type: Savings
Account Number: 0010289984
Account Type: SAVINGS
Immediately after making a payment,
Text your
To my phone numbers 08060889421, 08088040654
(HOW TO INVEST AND MAKE 10% , 20% AND 30% on investment every month) your money works for you. @N7,500. YOU WILL ALSO KNOW HOW I MADE IT
For 24/7 you can call for Consultation/Tutorial/Seminar/Training/Workshop on online and offline businesses via: Phone; +2348060889421, +2348088040654, BB: 7E36872A
Visa requirements for Nigerian citizens are administrative entry restrictions imposed by the authorities of other states on citizens of Nigeria. According to the “Henley Visa Restrictions Index 2014,” holders of a Nigerian passport can visit 49 countries visa-free or with visa on arrival. Most of these countries allow you to stay for 90 days before departure and you can enter other places with entry permits for few days ( 2, 3,and 7 days) The following countries allow visa-free or visa-on-arrival travel for Nigerian citizens:
ORDER FOR, THE SECRET OF SCOOPING MONEY IN TRAVEL BIZ @N10,000 only
INCLUDING AMERICAN, AFRICAN AND INDIAN OCEAN COUNTRIES
Bangladesh Visa on arrival
Barbados (AMERICAN) Visa not required 6 months
Benin Visa not required
Burkina Faso Visa not required
Burundi Visa on arrival 30days obtainable at Bujumbura International Airport
Cameroon Visa not required
Cape Verde Visa on arrival
Chad Visa not required
Comoros Visa on arrival
Côte d’Ivoire Visa not required
Djibouti Visa on arrival
Dominica (AMERICAN) Visa not required 21days
Fiji Visa not required 4months
Gambia Visa not required 90 days
Georgia Visa on arrival
Ghana Visa not required
Guinea Visa not required
Guinea-Bissau Visa not required 90days
Haiti (AMERICAN) Visa not required 3months
Iran Visa on arrival
Kenya Visa on arrival 90days
Liberia Visa not required
Madagascar Visa on arrival 90days
Maldives Visa on arrival
Mali Visa not required
Nauru Visa on arrival
Niger Visa not required
Palau Visa on arrival 30days
Rwanda Visa required Visa is obtained online.
Samoa Entry Permit on arrival
São Tomé and Príncipe Visa required Visa is obtained online.
Senegal Visa not required
Seychelles Visitor’s Permit on arrival 1 month
Sierra Leone Visa not required
Somalia Visa on arrival 30days, provided an invitation letter issued by the sponsor has been submitted to the Airport Immigration Department at least 2 days before arrival.
Sri-Lanka Electronic Travel Authorization 30 days
Tanzania Visa on arrival
Timor-Leste Visa on arrival 30days
Togo Visa not required
Tunisia Visa required Not required for tours organised by a travel agency.
Mauritania Visa on arrival
Mauritius Visa not required 90days
Micronesia Visa not required 30 days
Mozambique isa on arrival 30days
Myanmar Visa required Visa is obtained online.
Nauru Visa on arrival
Tuvalu Visa on arrival 1 month
Uganda Visa on arrival
United Kingdom Visa required
United States Visa required
Process your visa through our exotic services provider
Vanuatu Visa not Required 30days
You can contact us at Lacomfy Travels and Tours Ltd for your tickets and reservation or send mails to info@lacomfytravels.com
HOW TO GET VISA TO ANY COUNTRIES IN THE WORLD
HOW TO TRAVEL 100% FREE BY AIR
Call: +234-806-088-9421
Express: +234-808-804-0654, mail ola.moye@gmail.com
For 24/7 you can call for Consultation/Tutorial/Seminar/Training/Workshop on online and offline businesses via: Phone; +2348060889421, +2348088040654, BB: 7E36872A
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WHERE ARE YOU?
I THINK YOU SHOULD KNOW ABOUT THIS. One of the good guys has helped in putting up this write up to solve financial and employment problems. There are things that call for determination and being fully commited. This is not a get rich quick but ones you succeed in engaging in this business, the rest is yours to decide about life. Guess what I am in the business.
Let start by going through the info provided for us today
MAKING MONEY FROM OIL AND GAS: What you should know
PROCEDURES
There are different procedures and you have to understand what the buyer wants and what the seller wants. First thing first is you must know your links/channel. Who am I in contact with? For example, being an agent and facilitator in this business is being like a marketer. As a first timer, the first thing you do is look for is a genuine and credible seller. Once you get a seller then you can start to look for a buyer. Once you get a seller for BLCO, AGO, DPK, PMS e.t.c the seller will give you his spa (seller’s purchaser’s agreement) which contains the price, terms and procedure of delivery. If the procedure is similar to the buyer’s working procedure, the buyer will sign. Also note that you need to put your bank co-ordinates in the spa.
Getting started
Now you have a seller. All you need to do is look for a buyer. You can get buyers and sellers from b2b websites, oil trading platforms or through google search engine. Keywords to use in bracket(buyers of ago, dpk pms, blco in Nigeria) if you don’t have a seller yet, you could also search for sellers on google. Keywords to use in bracket (Sellers of pms, ago, dpk, blco in Nigeria) when the result comes out, begin to filter for a buyer or seller that would suite what you are looking for. BLCO, ALCO, FLCO, jetfuelA1, Mazut, SLCO, REBCO, BITUMEN, jp54, lng, lpg is traded internationally. You can only get buyers outside Nigeria for these products. In the case of local products such as PMS,DPK, AGO, it is advised that you get your sellers by visiting their office in Apapa, PHC, warri e.t.c they are a lot of oil companies in those areas. And again, never over look physical meetings. Greediness also kills this business. Never be too greedy in this business, little drops of water makes an ocean. From time to time, I would post tips on how to trade mazut, jp54, D2, jet A1 fuel, REBCO, SLCO, UREA, SUGAR, BITUMEN, lng and lpg later. If you are already in, lets start trading.
PRICING
Pricing modalities depends on the seller. For NBLCO (Nigerian Bonny Light Crude oil) and other Nigerian oil products, the seller might either do a dollar deal or a Naira deal. You should also know that the major seller of Nigerian Crude is NNPC and what the seller gives is discount. Most of the time dollar deals are done by NNPC and the seller in turn is a representative of NNPC. If the discount is $10 per barrel, the NNPC representative might get $6 and the remaining $4 is shared equally amongst facilitators and agents of both the buyer and seller side. That is to say 50/50which means $2 to the seller’s side, $2dollars to buyer’s side. Most time’s the seller’s side is always closed to the seller leaving the buyer’s side open. The buyer’s mandates always take $1 leaving $1 left for the remaining agent and facilitator to share. You should always know that your commission depends on the discount. If the discount is $10 and the NNPC approved agent decides to take $7 then you are left with $3 to share amongst facilitators/brokers/mandates of both parties.
Jp54, D2, JetA1, mazut, Rebco, SLCO are products of International origin. And they are traded internationally. The seller sells per metric tons. Only those who are already familiar with how to trade local products will know how to trade this. It’s usually traded in dollars. And if you are living overseas and you want to know how products like this are traded, mail me. A metric ton of d2 was about $345 early this year and the discount per metric tons was like $5. That is to say $340+$5= $345.
AGO,DPK,PMS, this are local Nigerian products you can easily trade. Pricing depends on the individual seller and quality of the product. As of today, most NNPC spec ago are going for over 135naira per litre. The seller might decide to sell at 133+2. The +2 is what belongs to the facilitator/mandate/broker/intermediary/consultant/agent. Depending on which category you belong. Always look out for the +. The net price is 133naira while the gross price is 2naira.
WHERE ARE WE GOING HOME OR OFFICE
Intending broker/Facilitator– For intending brokers, first timers, the things you have to do is to get yourself familiar with shipping terms, pricing of products and procedure. You must have an Internet connection, a functional phone line and (a skype ID for video calling) NB: skype is for those that want to trade internationally. Also have a valid current account and a valid current domiciliary account.
Here’s a list of Trading terms in the oil and gas sector you have to be familiar with below
“NOR” Notice of readiness. This is what the captain of the loaded vessel issues to the captain of the empty vessel notifying them of its position and readiness
“SPA” shall mean Seller’s Purchaser’s Agreement
“Marine ATB” authority to Board. This is what the Captain of the loaded vessel issues to the buyer’s supercargo/ inspector on the orders of the seller before they can come on board.
“ATB Format” This is what the buyer gives to the seller for issuance of Marine ATB. It contains the International passport, name of the supercargo/Inspector and company they work for.
“Supercargo” A person that the buyer gives the responsibility to go and confirm product on board a loaded vessel
“TTO” Shall mean Tanker Take Over.
“TTT” Shall mean Tanker to Tanker Transfer
“FOB” Shall mean Free On board
“Pregnant vessel” Shall mean a loaded vessel
“POP” shall mean Proof of product
“QnQ” Shall me Quantity and Quality
“Bill of Lading” The official document, issued at the Loading Port after completion of the loading operations, stating, among other things, the ship’s loaded quality, expressed in Cubic Meters (M3) and in Metric Tons (MT) or barrels per the definitions herein. This document must be signed in original by the ship’s Master.
“Loading Date” The date mutually accepted by both the Seller and the Buyer as the date on which the nominated International Surveyor Company has ascertained the quantity and quality of the Crude Oil pumped into the Buyer’s designated Vessel.
“Execution Date” The date on which the Seller and the Buyer receive their respective faxed copies of this Agreement, or as may be indicated otherwise in this Agreement.
“Platt’s” Platt’s McGraw Hill, London is the organization internationally recognized and accepted, which publishes official market prices of Crude oil & petroleum products on a daily basis.
“NNPC” shall mean Nigerian National Petroleum Corporation.
“ASTM/IP” Institute of Petroleum now known as the Energy Institute. American Society for Testing and Materials, is the internationally recognized Institute, that approved all Standards, Tests and Procedures used in the Oil Industry and as referred to in this Contract is the latest ASTM/IP Petroleum Measurement Tables latest revised edition in enforce to date.
“Affiliate” shall mean any company or corporation of Seller or Buyer which owns directly or indirectly fifty (50) percent or more of the shares carrying voting rights of such Party (Party company) and any company or corporation other than such Party of which such parent company or such Party owns directly or indirectly fifty (50) percent or more of the shares carrying voting rights.
“API” shall mean American Petroleum Institute. Reference: AMERICAN PETROLEUM INSTITUTE STANDARDS in effect as of JULY 1, 1993.
“Agreement” shall mean the CRUDE OIL Sales / Purchase Agreement of which these specific provisions agreed to between Buyer and Seller form the conditions of sale and purchase.
”CIF” shall mean Chartered Insured freight.
“Cargo” shall mean any particular quantity of the specified Crude Oil loaded into vessel as set out in this Agreement and includes partial cargo loads.
“Part Cargo” shall mean when a Cargo is discharged in more than one Discharge Port or received by more than one receiver at the Discharge Port.
“Completion of Discharge -COD”
shall, with respect to a Cargo, means the final disconnection of vessel’s discharge hose(s) following the discharge thereof.
“Commodity” or “Crude Oil”
shall mean Nigerian origin Standard Export Grade “Bonny Light“ Crude Oil (“BLCO”) in Bulk as specified in Clauses 4 and 6 with Specifications, as specified by NNPC, and set forth in Annex “A” to this Agreement. The maximum API gravity for BLCO is 37 @ 60°F and the Sulphur content is 0.14% (W.T.O.).
“Grade” shall mean grade of the Crude Oil specified in this Agreement.
“Day” shall mean calendar day
“Month” shall mean a calendar month.
“Quarter” shall mean a period of the three (3) consecutive months commencing on the first (1st) day of January, or the first (1st) day of April or the first (1st) day of July or first (1st) day of October.
“Year” shall mean a calendar year commencing on the first (1st) day of January.
“Discharge Port” shall, with respect to a Cargo, mean the port(s) nominated by Buyer and accepted by Seller for discharge of such Cargo in accordance with this Agreement.
“Part Cargo” shall mean when a Cargo is discharged in more than one discharge Port or received by more than one receiver at the port.
“Dollars,” “USD,” or “US Dollars” shall mean dollars of the United States of America.
“LAYTIME” shall mean the time allowed for the vessel’s Cargo to be loaded /discharged without incurring demurrage (36 + 36 hours).
“Barrel” shall mean a volume of forty-two (42) U.S. standard gallons of 231 cubic inches measured at Sixty degrees (60°) Fahrenheit or 158 Litres at 15.55 degrees Celsius.
“Metric Ton” shall mean unit of weight equal to one thousand (1000) Kilograms and one (1) metric Ton of Crude Oil shall be equal to 7.4 Barrels of BLCO.
“Gallon” A unit of volume equivalent to 231 cubic inches or 0.3785 cubic meters, all measured at 60 degrees F
“Parties” shall mean Seller and Buyer jointly.
“SBLC” shall mean Standby Letter of Credit
“LC” shall mean Letter of Credit
“BG” Shall me Bank Guarantee
“Vessel” shall mean the ship, whether owned or chartered or otherwise obtained by Seller and employed by Seller to ship the Cargo to the Discharge Port
“Loaded Vessel Documents” This includes
1 Original Bill of Lading
2 Commercial invoice
3 Tanker Haulage report
4 Tanker time sheet
5 Master’s Report document
6 Certificate of Quality and Quality
7 Certificate of Origin
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