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Alaoji NIPP, seven others down from low gas pressure

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Alaoji National Integrated Power Plant (NIPP) Gas Turbine 1, 2, and 4 suffered load trip due to low gas pressure. The Power Generation Report by the Ministry of Power, Works and Housing, which showed this, revealed that at least other seven out of the 27 power plants in Nigeria suffered the same fate. They were shut down on April 9 due to gas, line and frequency management constraints, the report sighted by New Telegraph at the weekend showed.

The Trans Amadi Gas Turbine (GT) 1 and 2 were out due to line constraints while GT 3 was due to a fault. GT 4 tripped on generator differential lockout. Also, ASCO Power plant GT1 was shut down due to leakage in the furnace, while Ihovbor Nigerian National Integrated Power Project (NIPP) GT 1 was out due to gas constraint. GT2 was also out due to a malfunctioning gas regulating valve. While Alaoji NIPP Gas Turbine 1, 2, and 4 tripped due to low gas pressure, GT3 was shut down due to generator air inlet filter trouble.

Afam IV and V Gas Power Plant GT13-16 were out on blade failure. GT17 tripped on loss of excitation. GT18 was out on inspection and maintenance, while GT19 and 20 are awaiting major overhaul. Sapele Steam’s ST1 tripped on low drum level, ST2 was shut down for maintenance, ST3 was out on stator winding problem, ST4 and 5 are awaiting major overhaul while ST6 tripped on gas control valve not following reference point.

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HuCaPAN seeks laws to regulate employment agencies

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Human Capital Providers Association of Nigeria (HuCaPAN),an umbrella organisation of registered/licensed recruiters, has called on the Federal Government to make effective regulatory laws to regulate the activities of recruitment agencies in the country.

The Association’s President and former Executive Secretary of the Association of Food, Beverage and Tobacco Employers, Mr. Aderemi Adegboyega made this call while speaking at the Association’s 7th Annual General Meeting (AGM) held recently in Lagos.

He said the association has made several efforts at ensuring that the Nigerian workforce was treated with respect and dignity, noting that the quest for labour flexibility led to the current manpower structure in most companies where over 60 per cent of the workforce has paled into informal and agency employment.

He cited the case of a Nigerian telecommunications giant that does not employ any staff directly. He pointed out that though agency work and outsourcing in Nigeria is a legal and approved business model, the Federal Ministry of Labour and Employment insists that such activities must follow laid down regulations to ensure and fair labour practice to the citizens.

He further said that as part of the Association’s efforts towards ensuring that Nigerian workers are engaged in decent work and properly treated in their workplace, it has collaborated with International Labour Organisation (ILO), Nigeria Employers Consultative Association (NECA) and the Federal Ministry of Labour and Employment to embark on a project which gave birth to the Code of Conduct for PEAs that has become the standard practice for Employment Agencies in the country.

Established as an employment providing professional organisation, HuCaPAN aims to develop and promote standards and ethical practices n recruitment, deployment and management of outsourced personnel among Service Providers in the country, among other numerous objectives.

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U.S. stocks drop on tech sell-off

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US stocks pared a weekly gain as a selloff in chipmakers entered a third day, with investors concerned there’s been a slowdown in smartphone demand. The dollar extended its weekly gain and treasury yields marched toward 2.95 per cent. Makers of computer chips and hardware tumbled, with Apple Inc., headed for its biggest rout since early February following a downgrade based on its deteriorating outlook in China.

The Nasdaq 100 Index was off more than 1.5 per cent. General Electric Co. rose on solid results. U.S. Treasury yields pushed to session highs as inflation worries persisted. American crude bounced back from a decline sparked by Donald Trump’s complaint that prices kept artificially very high by OPEC will not be accepted.

The rally in metals markets stuttered, pushing the Bloomberg Commodity Index down for a second day. According to Bloomberg, the late-week selloff in equities damped the mood among investors looking to earnings season to break stocks out of a two-month range. While companies that have beaten estimates pushed higher, those that missed were punished far more severely.

The chipmaker selloff also highlighted market risks, from a potential slowdown in global growth to the implications of the ongoing trade dust-up between the U.S. and major economies. While investors debate the cause of the decline in sovereign debt, bond market gauges showed an increase in expectations for U.S. inflation after the recent torrid gains in metals from aluminum to nickel.

Trade remains in focus with the US Treasury Department considering using an emergency law to curb Chinese investments in sensitive technologies. In Europe, a miss by Reckitt Benckiser Group Plc, the maker of Durex, dragged down personal and household-goods stocks in the Stoxx Europe 600 Index. Telecoms advanced as Ericsson AB surged after first-quarter earnings beat estimates. U.K. shares outperformed as the pound weakened after Bank of England Governor Mark Carney dampened expectations for a rate hike next month

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Group hires pioneer executive secretary

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Women in Successful Careers (WISCAR) have appointed Mrs. Fabia Ogunmekan as its pioneer executive secretary. WISCAR is a non-profit organisation focused on empowering and developing professional women to contribute to economic development and nation building in Nigeria and Africa. As the group’s executive secretary, Ogunmekanwouldoversee thedayto dayadministrationof WISCAR’sstrategyimplementationand programmes management. Prior to joining WISCAR, she served as alumni engagement manager at the Tony Elumelu Foundation.

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