Monday 24 July 2017
(This Day Live 07/14/17)
The World Bank, an international financial institution, thursday said Nigeria would really need Lagos to achieve sustainable growth, citing people-oriented approach of its leadership to governance and infrastructure development. The bank also acknowledged the national, regional and local significance of the state, which it said, was not only the geo-strategic gateway to Nigeria and Africa, but also to the rest of the world. The Country Director of the bank, Mr. Rachid Benmessaoud, thursday gave the account at a meeting with the state governor, Mr. Akinwunmi Ambode at the State House, Alausa alongside other staff member of the bank's country office. The meeting was also attended by the Senior Operations Specialist, World Bank, Mrs. Ngozi Udolisa; Senior Transport Specialist, World Bank,...
(AL Jazeera 07/14/17)
On the 50th anniversary of its bloody civil war, Nigeria is struggling to prevent another. On August 1, 1966, after the collapse of last-ditch attempts by Nigeria's power brokers to prevent the impending civil war, Lieutenant Colonel Odumegwu Ojukwu said only one thing would make the rebels cease fire: "that the Republic of Nigeria be split into its component parts; and all southerners in the North be repatriated to the South and that Northerners resident in the South be repatriated to the North". On May 30, 1967, Oxford-educated Ojukwu declared Biafra an independent state in the southeast of the country, in an attempt to fulfil his dream for an Igbo homeland. On July 6, 1967, civil war broke out in...
(Premium Times 07/14/17)
Nigeria has reached a landmark in the fight against HIV/AIDS as fewer people newly get infected than those on treatment. The Director-General of the National Agency for the Control of AIDS, NACA, Sani Aliyu, said with the feat, the country has crossed the “tipping point” for the epidemic. Mr. Aliyu explained that the tipping point for the epidemic is when more people are going on treatment than people getting newly infected. “We have an opportunity because in the last few weeks we have just crossed the tipping point for the epidemic,” Mr. Aliyu told State House correspondents in Abuja on Sunday. “The tipping point for the epidemic is when we have more people going on treatment than we have new...
(AFP (eng) 07/13/17)
One soldier was killed and several others injured in an attack on military personnel in Nigeria's oil-rich south, a security source said on Thursday, in the second incident this month in the restive region. The attack happened in the early hours of Thursday in the Ogbogbagbene community, southwest of the Delta state capital Warri, according to locals. A source at Nigeria's Department of State Security intelligence agency said it was not immediately clear whether those responsible were "militants or just hoodlums". "But they killed a soldier, injured others and carted away arms and ammunition, as well as a military gunboat," he said, adding that the injured were being treated in hospital. There was no immediate response from the military joint...
(AFP (eng) 07/13/17)
Nineteen people have now been confirmed dead after four female suicide bombers detonated their explosives in Maiduguri, northeast Nigeria, police said. Borno state police commissioner Damian Chukwu said the bombers had targeted mourners at a funeral ceremony in the suburb of Molai Kolemari on Tuesday night. Most of the victims were from a vigilante group called the Civilian Joint Task Force (CJTF), which assists the military in the hunt for Boko Haram. "In all, 12 Civilian JTF members lost their lives with seven villagers and the four female suicide bombers, bringing the total number of deaths to 23," said Chukwu. Another 23 people were injured and taken to hospital for treatment, he added in a statement on Wednesday night. Maiduguri...
(AFP (eng) 07/13/17)
A giant bulldozer digs a deep ditch among the bushes surrounding the University of Maiduguri in northeast Nigeria, turning it into a fortress to prevent further suicide attacks by Boko Haram. About 27 kilometres (17 miles) of trenches are being dug around the institution, known locally as UNIMAID, which has since the start of the year become a main target of the Islamist militants. From the fringes of the university campus, the silent, arid bushland of Borno state stretches out as far as the eye can see. "Suicide bombers usually...
(Agence Ecofin 07/13/17)
The Kano State House of Assembly has passed into law the state Health Trust Fund Bill (KHETFUND) which would guarantee sustainable financing of the health sector in the state. Aminu Garba, the Coordinator and Founder of Community Health and Research Initiative (CHR), who disclosed this on Tuesday, said the bill will be funded through a monthly deduction of 5% tax revenues and one percent from the total statutory allocation to the 44 Local Government Areas of the state. According to him, the Fund would generate over $7 million yearly adding that the passage of the bill was the first phase. “We will now shift our technical support and advocacy for the Executive Governor of Kano State Dr Abdullahi Umar Ganduje...
(Punch 07/13/17)
A former Minister of Aviation, Femi Fani-Kayode, has called on the Acting President, Yemi Osinbajo, to stop lies Nigerians are fed with concerning the true state of health of President Muhammadu Buhari. Buhari’s close allies, the All Progressives Congress chieftains and wife of the President, Aisha Buhari, have indicated that the ailing number one citizen was getting better and would “soon return” to the country feeling “stronger.” A few days ago, Mrs. Buhari made a veil reference to the likely return of her husband, adding that the “hyenas and the jackals” would be thrown out of the “kingdom.” Fani-Kayode, however, in a statement he made available to our correspondent on Thursday thinks otherwise. He said, “I am constrained to tell...
(This Day Live 07/13/17)
The Federal Executive Council (FEC) wednesday put in motion the machinery for the payment of N2.7 trillion owed contractors, pensioners and state governments by the federal government in the past two decades. Briefing journalists at the end of the weekly FEC meeting presided over by acting President Yemi Osinbajo in the State House, the Minister of Finance, Mrs. Kemi Adeosun, said the council approved a process for the validation and payment of liabilities inherited by the federal government since 1994. The minister gave the breakdown of the total verified N2.7 trillion liabilities to include: discounted N1.93 trillion owed contractors and suppliers as well as N740 billion outstanding pensions and promotional salary arrears reconciled by a committee set up by the...
(Reuters (Eng) 07/13/17)
Nigeria supports OPEC's efforts to stabilize oil prices, but it wants to wait before deciding whether join the cartel's cuts in oil production, its oil minister said on Wednesday. "Hopefully, in the next two to three months we can see how predictable the production return has been and then can say we feel stabilized and need to make the corresponding cuts," Emmanuel Ibe Kachikwu told reporters. Nigeria and Libya, whose output has been hit by political turmoil and attacks, are exempt from an the Organization of Petroleum Exporting Countries agreement, which is an effort to reduce a glut of crude oil on world markets.
(Reuters (Eng) 07/13/17)
Nigeria's oil minister will not attend a joint meeting between OPEC and non-OPEC nations in Russia this month due to a prior commitment, his ministry said on Wednesday. Oil Minister Emmanuel Ibe Kachikwu "regretted his inability to attend because of a prior commitment to host Ministers of Petroleum of the African Petroleum Producers’ Organisation countries on the same day in Abuja," the ministry said in a statement.
(Agence Ecofin 07/13/17)
Chinese multinational company, Shandong Ruyi Technology Group Co., is set to invest $600 million in the textile and garment industry in Kano state, according to Isyaku Umar Tofa, the chairman of the state Investment Promotion Agency. Tofa disclosed this during the presentation of Certificates of Occupancy to two investors, by the state governor in Kano. According to him, talks are advancing between the company and officials of the Kano state Investment Promotion Agency and a Memorandum of Understanding on the investment is expected to be signed in the next few months. “We are about concluding talks with them and they were encouraged by the commitment of the Ganduje administration to provide tax incentives as well as free land for their...
(Punch 07/13/17)
The Nigerian Stock Exchange market capitalisation rose by N53bn at the close of trading on Wednesday as 29 stocks gained. A total of 270.855 million shares valued at N2.769bn were traded in 3,940 deals. The equities market recorded a 0.47 per cent gain at the close of trading, to settle the year-to-date return at 22.72 per cent. A total of 15 stocks emerged as losers. The NSE capitalisaton rose to N11.367tn from N11.314tn, as the All-Share Index closed at 32,981.63 basis points from 32,827.98 basis points. 7UP Bottling Company Plc topped the gainers’ list, advancing by 8.82 per cent, to close at N89.23. Neimeth International Pharmaceuticals Plc, Cap Plc, Linkage Assurance Plc and Ecobank Transnational Incorporated Plc followed on the...
(Punch 07/13/17)
The Foreign Commercial Service of the United States Diplomatic Mission to Nigeria has announced the introduction of an innovative technology called ‘Synergy and Aruba’ for use in the Nigerian oil and gas industry. It said the technology was introduced in collaboration with Hewlett Packard Enterprise Nigeria and its leading local partner, Manifold Computers. According to a statement, Synergy and Aruba helps companies operating in the Nigerian oil and gas industry to increase the efficiency of operations, monitor people, manage resources, make real-time decisions, reduce risks, save costs, and increase flexibility, productivity and company bottom line. Speaking during a public presentation of the technology product at an event in Lagos last week, the United States Consul General, John Bray, renewed the...
(APA 07/13/17)
Nigeria’s Minister of Finance Kemi Adeosun has said that the country cannot continue to borrow more money to fund the budget, but will continue to diversify its economy to enable it to generate more revenue to fund the budget. Speaking at the quarterly presidential business forum in Abuja on Tuesday, Adeosun said that the government was determined to deliver on its promises to the electorate. “We have got to get our budget bigger and to do that we cannot borrow anymore. We simply have to generate more revenue, we have to plug the leakages, we have to improve tax collection so that we can manage our borrowing. “So the Voluntary Assets and Income Declaration Scheme (VAIDs) is aimed at improving...
(APA 07/13/17)
The Managing Director of the Bank of Industry (BOI), Mr. Olukayode Pitan, has said that the bank plans to inject N1 trillion (about $3.27bn) into the Nigerian economy through collaboration with financial institutions in the country and development institutions in Africa. Pitan told journalists on Tuesday in Abuja that the synergy would further deepen the bank’s involvement in the development of the nation’s economy. He explained that it will also provide necessary impetus in revitalising key sectors that have been stressed by the global economic downslide. According to him, the intervention is the resolve of the new management to be abreast of advancing the economy in furtherance of keeping the bank’s mandate of providing financial assistance for the establishment of...
(Agence Ecofin 07/13/17)
Dangote Group plans to increase its sugar production to 1.5 million metric tons a year by 2020 from the current 100,000 tons. It also plans to add 1 million tons of rice to current production and have 50,000 cattle producing 500 million liters of milk a year by 2019. To this end, the company will be investing $3.8 billion in sugar and rice and another $800 million in dairy production over the next three years, as it seeks to expand amid a dollar shortages issues. The Executive Director at Dangote’s industries unit, Edwin Devakumar, who revealed these plans in an interview on Tuesday, said: “All raw sugar has to be imported today, same thing for flour milling.” Devakumar added that...
(APA 07/13/17)
The Supreme Court’s ruling to settle the crisis in the former ruling party and the Acting President’s visit to ailing President Muhammadu Buhari dominate the pages of Nigerian newspapers on Thursday. The Guardian reported that the Supreme Court has ended a 14-month leadership squabble within the country’s main opposition — the Peoples Democratic Party — and gave it a new lease of life ahead of an important general election in 2019. The Daily Trust said the visit paid by Acting President Yemi Osinbajo to President Muhammadu Buhari in London may not be unconnected with a number of issues cropping up in the seat of power. The Leadership newspaper also reported that Osinbajo disclosed on Wednesday that ailing President Buhari was...
(AFP (eng) 07/12/17)
At least 15 people were killed when four female suicide bombers detonated their explosives in Maiduguri, northeast Nigeria, police said on Wednesday, in the latest violence to hit the strategic city. Borno state police commissioner Damian Chukwu told reporters the four struck in the suburb of Molai Kalemari on Tuesday night and that most of the victims were civilian militia manning security posts. "The bombers detonated IEDs (improvised explosive devices) strapped to their bodies at different locations of the area, killing 19 people, including the bombers," he said. "A total of 23 people were injured." Bello Danbatta, a spokesman for the Civilian Joint Task Force (JTF) militia and chief security officer at the Borno State Emergency Management Agency (SEMA), said...
(AFP (eng) 07/12/17)
Nigeria's vice-president has returned from a whistlestop trip to meet ailing President Muhammadu Buhari in London and will chair Wednesday's weekly cabinet meeting, his spokesman said. Acting President Yemi "Osinbajo now back in Abuja from London & will be presiding over FEC (federal executive committee) this morning," tweeted Laolu Akande. He also pledged to share "more information" about Osinbajo's encounter with Buhari, describing it as "a very good meeting". Osinbajo, who has been acting president since Buhari left for medical...

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