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Salaye Ara'e - New Intriguing Yoruba Movie 2018 Starring Ronke Odusanya, Wale Akorede.

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Nigeria, China suspend talks over $50b oil bid
CHINA’s bid for Nigeria’s six billion barrels of oil from the reserve blocks may have been consigned to the shelves, as talks over the interest have been stalled, over alleged dispute on bid offer. China, last year, offered to invest as much as $50 billion to acquire a large stake in Nigeria’s oil sector, a bid which included incursions into some oil blocks held by Royal Dutch Shell, ExxonMobil and Chevron. “We have not had any discussions with China for several months,” Emmanuel Egbogah, Presidential Adviser on Energy, told Reuters in Abuja yesterday. “We have made our position clear. We told them we want a fair market value for our oil.” Egbogah declined to specify how much Nigeria was seeking for its oil, which usually sells at a premium in the physical crude markets because it can be more easily refined into fuel products than Middle Eastern grades. He however reiterated that China was unlikely to be given all the reserves it wanted. The last reported talks between the two countries occurred when Chinese Foreign Minister, Yang Jiechi’s visited Nigeria in January. Egbogah said Nigeria remained open to talks with China, but no date had been set for another round of negotiations.

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