ConocoPhillips, the stronghold United States oil company is ceasing from oil exploration in Nigeria and thereby to dispose its asset in the country. ConocoPhillips is to raise about $2.5 billion, if not more from the sale of its Nigerian Assets.

ConocoPhillips will hold on to its investment in Brass Liquefied Natural Gas (LNG) project, while selling off its onshore and offshore oil and gas fields in Nigeria.

The state oil company, Nigerian National Petroleum Corporation (NNPC) disputed the prevailing news that the company was divesting from the country as a result of social unrest and political instability. The Nigerian National Petroleum Corporation (NNPC) reiterated that far from the truth that Nigeria remains the place to be as far as oil and gas exploration is concerned.

In the report by The Nation Newspaper, Emeka Ugwuanyi wrote that Dr. Levi Ajuonuma,  Group General Manager, Group Public Affairs Department, NNPC stated that “ConocoPhillips’ decision to sell its assets in Nigeria was not as a result of internal business issues or adverse operating environment, noting that Nigeria remains the destination of choice for investment.”

According to The Nation Newspaper, Dr. Ajuonuma was quoted:

“I confirm that ConocoPhillips their assets in Nigeria but the sale is not as a result of adverse operating environment or internal business issues. You know Nigeria remains Africa’s oil and gas hub and destination of choice for investors.

“They (ConocoPhillips) are re-organising in line with a new business model approved by their board of directors. They are streamlining their assets not only in Nigeria but across the world where they operate.

“Their interest in the Brass LNG project is not affected. They will retain their interest in the project. But if they decide to divest it, there are many investors that will gladly jump to it.”

The Nation further reported that ConocoPhillips “has hired BNP Paribas to help sell the planned assets adding that Nigerian companies that are showing interest to acquire the assets include Conoil and Oando as well as China’s Petroleum and Chemical Corporation (Sinopec), Oil and Natural Gas Corporation (ONGC) of India and Korea National Oil Corporation (KNOC).”

Nigerian government and NNPC have to do a better job in the dissemination of the information that the problems of insecurity and social unrest are not effecting oil and gas exploration in the country. This is important in order to discourage the fight of capital and cold feet of investing in the industry.

Nigeria was not invited to the month of May's G8 Gathering in United States

Ethiopia, Ghana, Tanzania and Benin presidents were officially invited to the forthcoming G8 Summit later this month in the United States by U.S. President Barack Obama. United States will be hosting the next G8 summit and with the tradition of the event, the host nation can invite other world leaders that have issues that can enhanced the gathering. Nigeria, an oil rich nation with a powerful and recognized influence in Africa has always receive invitation to the august meeting. But this time around invitation card was not extended to her.

According to Voice of America: " White House spokesman Jay Carney says Ethiopian Prime Minister Meles Zenawi, Ghana's President John Mills, Tanzanian President Jakaya Kikwete and Benin President Yayi Boni, who is the current chairman of the African Union, will attend the summit for a discussion of food security on May 19 at the U.S. president's mountain retreat – Camp David in Maryland.”

There is no African nation that is a member of the esteemed G8 Group that includes the United States, Canada, Japan, Britain, France, Germany, Italy and Russia. The G8 nations are characterized with developed and industrialized economies, open societies and intimidating Gross Domestic Products. The G8 are member nations of the world's largest economies but having one of the largest economies are not only the criteria for membership for China and Brazil with large economies by any standard have not made it to the well respected group.

G8 leaders pic:White House

Voice of America, further reported, "The Group of Eight holds a summit each year of the leaders of eight of the world's largest economies – the United States, Canada, Japan, Britain, France, Germany, Italy and Russia. The host of each year's summit frequently invites other leaders for an expanded discussion of specific issues. Last month, the United States announced it is providing nearly $200 million in additional humanitarian aid to the Horn of Africa, where a lack of rain is again threatening food supplies.  Last year, the Horn suffered through a severe drought that triggered famine conditions in parts of southern Somalia. Thousands of Somalis died and tens of thousands more fled to camps in Mogadishu or refugee camps in Ethiopia and Kenya, in search of food and water. The United States says it has provided more than $1.1 billion in humanitarian aid to the Horn since the crisis began in 2011."

Nigeria has enjoyed the privileged of being invited to G8 meeting until this time despite not even being a member nation of G20. South Africa is the only African nation that has both memberships in G20 and BRICS nations.

Pictures of Market Bombing that kills at least 34 in Nigeria

"Gunmen armed with explosives killed at least 34 people in northeastern Nigeria when they attacked a cattle market and burned it to the ground, residents and officials said Thursday. The attack Wednesday night in the city of Potiskum was said to be in reprisal for an incident earlier in the day, when a gang sought to rob the market but were fought off by traders who caught one of the attackers, police said. The man who was caught was doused in petrol and a tyre was placed around his neck before he was burnt to death, according to police and residents."  - AFP

Nigeria map Potiskum Dikwa [Al Jazeera]

Dead cows lie amid burned posts Thursday, May 3, 2012, following a raid by gunmen in a cattle market in Potiskum, Nigeria. (AP Photos/Adamu Adamu)

Dead cattle seen Thursday, May 3, 2012 following a raid by gunmen in a cattle market in Potiskum, Nigeria..(AP Photos/Adamu Adamu)

AFP

blast at Gombomru local market in Nigeria's northern city Maiduguri on February 7, 2012. press tv

According to a new methodology calculation developed by Oxford University, the ten poorest countries in the world are found in  Africa.  South of Sahara Africa is the poorest region, followed by South Asia.

Multidimensional Poverty Index, or MPI is the new methodology calculation will replace the Human Poverty Index.  United Nations will cease to use the Human Poverty Index  and its next tracking and measure of poverty known as Human Development Report will utilise the new computation, MPI.

Human Poverty Index  are measured on Life span and Standard of living. With Multidimensional Poverty Index,  the calculation will be lengthen in scope to connote children school enrollment, proximity to drinking water, electricity, shelter, Nourishing meals  and other basic needs of existence.

The ten poorest countries using the new  MPI according to Oxford University Report are:

1. Niger

92.7% Living In Poverty

65.9% Living On At Least $1.25 A Day

89.5% Deprived Of Sanitation

2. Ethiopia

90% Living In Poverty

39% Living On At Least $1.25 A Day

61.5% Deprived Of Adequate Schooling

3. Mali

87.1% Living In Poverty

51.4% Living On At Least $1.25 A Day

36.2% Deprived Of Electricity

4. Burkina Faso

56.5% Living On At Least $1.25 A Day

35.4% Deprived Of Nutrition

55.1% Deprived Of Adequate Schooling

5. Burundi

84.5% Living In Poverty

81.3% Living On At Least $1.25 A Day

93.4% Living On At Least $2.00 A Day

6. Somalia

81.2% Living In Poverty

69.1% Deprived Of Sanitation

70% Deprived Of Drinking Water

7. Central African Republic

86.4% Living In Poverty

62.4% Living On At Least $1.25 A Day

82% Deprived Of Electricity

8. Liberia

83.9% Living In Poverty

83.7% Living On At Least $1.25 A Day

83.9% Deprived Of Cooking Fuel

9. Guinea

82.4% Living In Poverty

70.1% Living On At Least $1.25 A Day

54.2% Deprived Of Adequate Schooling

10. Sierra Leone

81.5% Living In Poverty

53.4% Living On At Least $1.25 A Day

52.3% Deprived Of Drinking Water

Pictures: Suicide bombing at Thisday Newspaper at Abuja and Kaduna

" suicide bomber detonated a car loaded with explosives Thursday at the office of a major Nigerian newspaper in the country's capital and another man threw a bomb near another newspaper office in Kaduna, killing at least seven people in the attacks, witnesses said. The attack in Abuja struck the offices of ThisDay, an influential daily newspaper. The bombing in Kaduna struck a building housing offices for ThisDay, The Moment and The Daily Sun ewspapers, witnesses said. At least 26 people were injured in the attacks. No group immediately claimed responsibility for the attacks, though they mirrored others previously carried out by a radical Islamist sect responsible for hundreds of deaths in Nigeria this year alone." - Huffington Post

Shattered vehicles are seen at the site of a bomb explosion in the Morroco district in Suleja, outside Nigeria's capital Abuja on February 19, 2012. Another attack on April 26, 2012 that killed three people at a newspaper office is believed to be a suicide attack. Photograph by: Afolabi Sotunde , Reuters

The body of a victim lies covered on the ground after a bomb blast in front of the office compound of Nigerian newspaper This Day in the northern city of Kaduna . REUTERS/Stringer

A car destroyed by the bomb sits outside the premises of ThisDay Newspapers bombed in Abuja on April 26, 2012.

People look at a tree uprooted and a vehicle destroyed by the bomb outside the premises of ThisDay Newspapers bombed in Abuja on April 26, 2012.

Debris is strewn inside the bombed office of ThisDay, an influential daily newspaper in Abuja, Nigeria

Rescue workers tend to an injured man at the site of the bombed office of ThisDay, an influential daily newspaper in Abuja, Nigeria, Thursday, April. 26, 2012, . (AP Photos/Gbemiga Olamikan)

Police Anti-bomb officers stand on the burnt engine of the Jeep used by the suicide bomber that ravaged ThisDay Newspapers in Abuja

President Jacob Zuma had married his sixth wife and whole world looks in awe

"Africa's polygamous President Jacob Zuma married for the sixth time on Friday, taking his long-time girlfriend Bongi Ngema as his newest bride and fourth current wife in a private ceremony at his rural home. Ngema, an activist and former information technology worker, is well known in South Africa and has already accompanied the president on foreign visits. The ceremony raised few eyebrows in a country where polygamy is legal and an integral part of Zuma's Zulu culture. The two had a traditional Zulu wedding and "the bride and groom later participated in the traditional competitive celebratory dance," the presidency said in a statement. Zuma has 21 children, including a seven-year-old son with Ngema. The president is also married to Sizakele Zuma, Nompumelelo Ntuli-Zuma and Tobeka Madiba-Zuma. They all attended the ceremony. His marriage to Home Affairs Minister Nkosazana Dlamini-Zuma ended in divorce. Another wife Kate Mantsho-Zuma committed suicide in 2000. There is no official position of First Lady in South Africa. The presidency said none of the wives had a constitutional role or received any state funds. "     -Reuters

All the president's women: President Jacob Zuma cuts his Birthday cakes with his wives, from left: Gloria Ngema, Nompumelelo Ntuli, Thobeka Madiba and Getrude Khumalo. (Siyabulela Duda)

President Jacob Zuma and his fiance Ms Bongi Ngema cut a cake as they take part in a traditional wedding ceremony known as Umgcagco at his home in Nkandla, KwaZulu Natal. (AFP Photo/Elmond Jiyane).

Wife number six: South African president Jacob Zuma has married Bongi Ngema in a traditional wedding ceremony known as Umgcagco at his home in Nkandla, KwaZulu Natal. Picture: AFP Source: AFP

President Zuma dances with his new bride. AP/Simphiwe Nkwali-The Times

President Jonathan in Berlin, Germany

"President Goodluck Jonathan, on a visit to Germany centered on strengthening economic ties, conceded Thursday that investors ask about the country's "security challenges." But he offered assurances that his government "is working very hard and that we'll bring this under control." Jonathan said after meeting German Chancellor Angela Merkel that Nigeria could envision foreign help with "training our manpower" and providing technology to monitor terrorists. Nigeria's president is vowing that his government will rein in the threat from a radical Islamic sect that has waged an increasingly bloody sectarian fight in the country. Boko Haram, whose name means "Western education is sacrilege," is blamed for killing more than 430 people this year alone in Nigeria."  - AP

German Chancellor Angela Merkel, left, welcomes Nigerian President Goodluck Jonathan, right, with military honors at the chancellery in Berlin, Germany, Thursday, April 19, 2012.Building in the background is the Reichstag, whichs hosts the German parliament. Photo: Clemens Bilan / dapd

German Chancellor Angela Merkel, right, and the Nigerian President Goodluck Jonathan address the media during a press conference as part of their meeting at the chancellery in Berlin, Germany, Thursday, April 19, 2012. Photo: Michael Sohn / AP

Chancellor Angela Merkel of Germany talks with Nigerian president Goodluck Ebele Jonathan as they take in the view from the roof of the Office of the Federal Chancellor and across the area of administrative government on April 19, 2012 in Berlin, Germany. President Jonathan is visiting Germany for bilateral discussions between the two nations.Photo provided by the German Government Press Office (BPA). (April 18, 2012 - Photo by Pool/Getty Images Europe)

German Chancellor Angela Merkel and Nigerian President Goodluck Jonathan speak to the media after talks at the Chancellery on April 19, 2012 in Berlin, Germany. The two leaders discussed economic cooperation between their two countries as well as security issues. (April 18, 2012 - Photo by Sean Gallup/Getty Images Europ

Nigerian President Goodluck Jonathan wears a chain of golden scorpions as he gestures while speaking to the media after talks with German Chancellor Angela Merkel at the Chancellery on April 19, 2012 in Berlin, Germany. The two leaders discussed economic cooperation between their two countries as well as security issues. (April 18, 2012 - Photo by Sean Gallup/Getty Images Europe)

Dr. Ngozi Okonjo-Iweala said that the top job will go to United States candidate, Dr. Kim but Africa has proven that she ‘can contest this thing'

During the Nigeria's budget proceedings this Monday morning, Dr. Ngozi Okonjo-Iweala made the prediction that the United States man, Dr. Tim Yong Kim will land the top job and lead World Bank. But she quickly added that the victory would not base on merit.

Her words, “You know this thing is not really being decided on merit."

Astute global observers and analysts have never doubt that the outcome will be different. United States owns the process and since the formation of World Bank after the end of Second World War, it has never had a non-American citizen as the president.

(Antoine Antoniol/BLOOMBERG)

Okonjo-Iweala and Columbia’s Jose Antonio Ocampo could be said to be the first to challenge an American nominated candidate for World Bank presidency.  Ocampo eventually bowed-out from the race to enable Okonjo-Iweala redouble her momentum. But the reality remains that United States is the juggernaut that determines how the process will go and who will get the top job.  And the presidents of World Bank position have always go to an American. A different outcome cannot be envisaged at this time and certain things never change.

"So we have won a big victory. Who gets to run the World Bank – we have shown we can contest this thing and Africa can produce people capable of running the entire architecture, will never ever be the same again". That’s how Nigeria's Okonjo-Iweala surmised the process, thus giving credence to the effort that Nigeria and Africa had made in the uphill struggle to gain the top leadership at World Bank.

Okonjo-Iweala is making an intelligent prediction but by the end of the day, World Bank board of directors will name the president and that may confirmed her prediction.

George Clooney arrested outside Sudan's embassy in Washington DC for calling on Omar Al-Bashir's Sudan to cease the violence and allow humanitarian aid into the country.

Hollywood "Movie star George Clooney was led away in handcuffs after storming the Sudanese Embassy protesting the actions of the country's president Omar Al-Bashir, an alleged war criminal. Clooney made the rounds in Washington this week, hoping his superstar wattage will help shine a light on the situation in Sudan. The actor testified before the Senate Foreign Relations Committee and held private meetings with the Secretary of State and President Obama about the African nation's dire humanitarian situation and the Obama administration's policy. He led a protest today outside of Sudan's embassy calling on Omar Al-Bashir, an alleged war-criminal, to stop the violence and allow humanitarian aid into the country    Also among those arrested as a mob of reporters and cameramen looked on were Clooney's Father Nick Clooney; President of United to End Genocide and former Congressman Tom Andrews; Congressmen Jim McGovern, D-MA, Al Green, D-TX, Jim Moran, D-VA., and John Olver D-MA; Martin Luther King III, NAACP President Ben Jealous; and Enough Project Co-Founder John Prendergast, according to a police statement."   - ABC News

Journalist Nick Clooney and his son actor George Clooney are arrested by members of the U.S. Secret Service Uniform Division during a protest outside the Sudanese Embassy March 16, 2012 in Washington, DC. (Alex Wong/Getty Images)

Actor George Clooney embraces activist Dick Gregory during a protest at the Sudan Embassy in Washington, March 16, 2012. (Cliff Owen/AP Photo)

Actor George Clooney, left, and his father Nick Clooney, take part in a protest at the Sudan Embassy in Washington, March 16, 2012. (Cliff Owen/AP Photo)

Actor George Clooney, center, Rep. Jim Moran, D-Va, back, and Clooney's father, Nick Clooney, right, are arrested during a protest at the Sudanese Embassy in Washington, March 16, 2012. The demonstrators are protesting the escalating humanitarian emergency in Sudan that threatens the lives of 500,000 people. (Cliff Owen/AP Photo)

Rep. Jim Moran, D-Va. is arrested during a protest at the Sudan Embassy in Washington, Friday, March 16, 2012. (Cliff Owen/AP Photo)

(Win McNamee/Getty Images)

Actor George Clooney, center, and Rep. Jim Moran, D-Va., left, are led to a police vehicle after being arrested during a protest at the Sudan Embassy in Washington, March 16, 2012. (Cliff Owen/AP Photo)

Actor George Clooney, center, followed Rep. Jim Moran, D-Va, lower left, are placed into a police vehicle after being arrested during a protest at the Sudan Embassy in Washington, March 16, 2012. (Cliff Owen/AP Photo)

Washington Metropolitan Police officers try to keep the news media, protestors, and bystanders away from a police vehicle after they placed actor George Clooney in it following his arrest during a protest at the Sudan Embassy in Washington, March 16, 2012. (Cliff Owen/AP Photo)

ARISE Magazine Fashion Week bonanza in Nigeria

"ARISE Magazine Fashion Week in Lagos, now in its second year, highlighted the work of mostly African or Africa-influenced designers. The 77 designers offered a range of outfits blending traditional fabrics with international aesthetics. Africa-influenced fashion, from Yves St. Laurent's 1960s collections to Proenza Schouler and Derek Lam's Spring 2012 shows, have been featured in designs for decades. Now, however, more and more African fashion designers are using both their heritage and international trends to gain attention on the world stage." CBS/AP

Pictures Credit: EMMANUEL AREWA/AFP/Getty Images