Chamberlain Oguchi, former Illinois State basketball star is heading to London Olympic Games under the banner of Nigerian National Basketball Team. The graceful and energetic basketball player Oguchi will be a great asset to Nigerian team in London 2012 Olympic Games.
Oguchi while at Illinois State University (ISU) was the 2009 Missouri Valley Conference Newcomer of the Year. He was the leading Redbirds player averaging 15.2 points per game.
This is the first time in history that Nigeria qualified for Olympics in men’s basketball after defeating Dominican Republic. In the Olympic Qualifying Tournament in Venezuela, Nigerian National Team defeated Dominican Republic 88-73.
Nigeria players, including Chamberlain Oguchi (9) and Ike Diogu (6), celebrate after upsetting Greece during the quarterfinals of the FIBA Olympic Qualifying Tournament on July 6. / By Leo Ramirez, AFP/Getty Images
Although, Chamberlain Oguchi was born in United States he is no stranger to Nigerian National basketball team. Oguchi has been playing for Nigerian National basketball team since he was 19 as reported by wjbc f Illinois news.
“It still hasn’t quite sunk in yet, that we’re going to the Olympics. Just being a part of this is monumental. I can’t explain how excited I am to do this,” Oguchi said as he expresses joy and satisfaction on Nigeria qualifying for 2012 London Olympic Games.
The Nigerian community in Houston, Texas is bubbling with excitement on the success of a home town boy. And Nigerian Americans are proud of their own going back home to represent our fatherland at the Olympic global arena in London.
Illinois State's Champ Oguchi advances the ball against Drake on Jan. 14, 2009, at Redbird Arena in Normal. (The Pantagraph/CARLOS T. MIRANDA)
Chamberlain Oguchi is the son of proud parents, Chief and Mrs. Godwin Oguchi (Ichie Ezediobi). His parents are residents of Texas and migrated to United States from Umuoji, Anambra State, Nigeria.
“For us to be able to accomplish what we’ve accomplished and knock off some of the top teams in the world, it was huge. The whole team felt like it was time for Nigeria to come together and qualify for the Olympics,” Champ Oguchi said as he prepares with his team mates for the next battle in London soil.
On July 29, Oguchi's Nigerian Basketball team will open Olympic play against Tunisia, at 3 a.m. CT (9 a.m. in London).
Economic perspective and analysis by Afripol Organization www.afripol.org
The West African energy giant, Oando Plc of Nigeria is set to raise the sum of 21 billion naira ($140 million) by selling shares in the capital market. The capital raised will be used to finance ventures in energy sector and
The West African energy giant, Oando Plc of Nigeria is set to raise the sum of 21 billion naira ($140 million) by selling shares in the capital market. The capital raised will be used to finance ventures in energy sector and"refinancing the acquisition of upstream assets, providing operational capital to fund the operation of the upstream business, and short and medium term investment in its gas and power business segment."
Oando Plc headquartered in Lagos, Nigeria is the biggest indigenous energy firm in Nigeria that market oil products and involve in oil exploration at its acquired upstream assets, the segment that will receive the largest chunk of the proposed capital infusion.
Oando Plc will raise the capital "through a Right Issue of 301,694,878 ordinary shares of 50 kobo each at N70.00 per share on the basis of one 1 new ordinary share for every 3 ordinary shares of 50 kobo each held as at the close of business on Friday, 18 December 2009." Two powerful and resourceful companies in the capital market: Vetiva Capital Management Ltd. and Stanbic IBTC Bank Plc will participate in the selling of the shares to raise the proposed capital.
The capital market venture was announced by the CEO and Group Managing Director, Mr. Wale Tinubu at the end of the meeting of the executive board of directors. According to Mr. Wale the company planned to raise the capital for the refinance its acquisition of upstream assets.
The achievements of Wale Tinubu, the erudite and efficient chief executive officer must be acknowledged as a driving force at Oando Plc for his vision and leadership. Under his strategic leadership Oando‘s growth has been tremendous thus appreciating the shareholders’ dividends.
During the press conference Wale reaffirmed, "the size of the business we run at Oando Plc would require a substantial amount of capital. We are doing things in several stages. The one we are doing now is Right Issue which is a small amount of N20 billion for the recapitalisation process. Then we will be proceeding to do a much larger international equity Issue which would occur at the beginning of the second quarter. Then there is going to be two debt issues. One is a local five year debt issue which we are working on right now and the mandate has been signed, it’s in the final stages."
Wale further emphasized: "the final thing would be the bond issue. We are in the process of fund raising the debt restructuring 5 year term for N60 billion. Then we would do an international equity and debt raising of N75 billion which would come in the 1st week of April (second quarter). The bulk of the money is going into our gas and upstream division for the upstream, we have our crude oil. You are aware; we have diversified heavily towards increasing our production in the crude oil sector."
The bold move made by Oando Plc buttressed the company’s growth and strong confidence even in the turbulent oil industry especially in Nigeria with her unending problems in Niger Delta. The issue of Niger Delta has a global effect on the oil price and energy sector but with relatively less impact on the oil-marketer Oanda.Oando Plc is listed on both Nigerian and Johannesburg Stock Exchanges, and has been concluding the arrangement to be listed in London Stock Exchange.
Recently it was reported by Reuters that "Dow Jones Capital Markets Report reported that Oando Plc had signed Memorandum of Understanding with Gazprom OAO. The two companies have agreed to collaborate on the development of oil and gas assets and infrastructure in the West African sub-region and the Gulf of Guinea."
Oando Plc is growing rapidly by increasing the number of oil rigs and "All Africa reported that Oando Plc has increased its fleet of oil drilling rigs to three with the acquisition of a USD 53.5 million rig, named the Constitution. Constitution, a swamp barge rig, has capacity for approximately 15,000 psi pressure output, about 3,000 horse power as well as the ability to undertake drilling operations, work over and high pressure/high temperature (HPHT) wells of over 30,000 ft drilling depths. The facility was purchased in July 2008, and was recently delivered to the Company. "
Emeka Chiakwelu, Principal Policy Strategist at Afripol, recently speaking at Energy Workshop noted that "Energy industry is capital intensive and continuously needs injection of large resources. The growing energy companies in Nigeria and Africa must be willing to look beyond the continent to raise capital that Africa cannot provide." Therefore Oando Plc is moving in the right direction.
Oando Plc is gradually but steadily making impact in the energy industry, therefore the infusion of the 21 billion naira will strengthen and energized its business prospect.
Oando’s stocks are doing well in the stock market in spite of the global economic downturn. Oando Plc must widen its scope beyond Africa and venture into new territory particularly in East Asia and Latin America. And the company must spend more resources in public relation to become an international household name, thus deemphasizing its Nigerian localized image.
Oando Plc has the potential and the credibility to become a major player in the global energy industry in 21 century. With this enormous injection of proposed capital Oando Plc is geared up for growth and expansion.