Sunday 19 November 2017
(APA 09/29/17)
Ahead of Nigeria's 2019 presidential election, the Governor of Ekiti State in south-western Nigeria, Mr. Ayodele Fayose, has declared interest to contest the election against the zoning policy of his political party, the Peoples Democratic Party (PDP). Fayose said in Abuja on Thursday that his action to contest the presidential election was in line with democratic tenets. With his declaration, it brings to two, the number of aspirants for the exalted office. Former Vice President Atiku Abubakar of the ruling All Progressives Congress (APC) has been in field campaigning. President Muhammadu Buhari has yet to declare his position, but some of his supporters have lampooned former vice president of trying to subvert Buhari. Fayose, who is also the Chairman of...
(Reuters (Eng) 09/29/17)
Nigeria’s debut 100 billion naira sovereign sukuk issue launched last week was more than 5.8 percent oversubscribed, the Debt Management Office said on Wednesday, suggesting it may tap this demand more to help fund its budget. Nigeria has a growing consumer and corporate banking sectors and is home to the largest Islamic population in sub-Saharan Africa, with Muslims accounting for about half of its population of 180 million. “With the success of the (sukuk) offer, another window has been opened for the government to raise funds to close Nigeria’s infrastructure gap,” the debt office (DMO) said in a statement. The seven-year Islamic bond, which is structured as a lease and guaranteed by the government, fetched 105.87 billion naira in bids...
(Reuters (Eng) 09/29/17)
More than half the schools in the state at the epicenter of Nigeria’s conflict with Boko Haram are still closed, the United Nations’ children agency said on Friday, as the insurgency drags into its ninth year. The lack of schools could continue to fuel Boko Haram or similar movements in the future. Poor education for Nigeria’s restive northeastern youth left them with few prospects, driving them to join the Islamist insurgency, experts say. The conflict has killed more than 20,000 people since 2009 and embroiled the region in one of the world’s worst humanitarian crises, with at least 10.7 million people in need of assistance, according to the United Nations. “In addition to devastating malnutrition, violence and an outbreak of...
(APA 09/29/17)
Faced with the harsh economic realities in Nigeria, the Federal Government says that it is withdrawing its membership from 90 international organisations in order to meet its obligations to these organisations. Nigeria’s Minister of Finance Kemi Adeosun told journalists after the Federal Executive Council (FEC) meeting on Wednesday in Abuja that Nigeria was spending over $120 million every year as a member of 310 international organizations. She lamented that the government was no longer meeting up with its obligations to these organization. The minister explained that a committee was set up by government to review the rationale of Nigeria’s continued membership of such a large number of international organisations and the financial implications of such membership. According to local media...
(APA 09/29/17)
Japan has contributed an additional $1 million to the United Nations High Commissioner for Refugees (UNHCR) to respond to critical needs of refugees and Internally Displaced Persons (IDPs) in Nigeria. Ms Elizabeth Mpimbaza, UNHCR’s Senior External Relations Officer in Nigeria, said on Thursday in Abuja that the money was given to the agency to cater for the needs of people forced to flee their homes. These people, she said, included Nigerian refugees wishing to return to their north east home from neighbouring countries. Mpimbaza said that the gesture brings Japan’s total contribution to UNHCR Nigeria this year to $3.5 million. She said that Mr. Sadanobu Kusaoke, Ambassador of Japan to Nigeria, reiterated his country’s commitment to support efforts that create...
(Reuters (Eng) 09/29/17)
Listening to her young daughter read aloud from a bright yellow diary in their home in Nigeria, Rebecca Samuel struggled to hold back tears. But these were tears of joy, rather than sorrow. For the first time since 2014 when her firstborn, Sarah, was abducted from Chibok with about 220 other girls - the biggest publicity coup of Boko Haram’s jihadist insurgency - Samuel has hope that her daughter is still alive. The Thomson Reuters Foundation exclusively obtained the diaries last month. Written in captivity by Sarah, now 20, and her Chibok classmate, Naomi Adamu, they document their kidnapping and hardship of life under Boko Haram. “Before, I had faith in God that she was still alive,” said Samuel -...
(The Associated Press 09/29/17)
Boko Haram's ongoing insurgency in northern Nigeria has forced the closure of more than 57 percent of schools in Borno state, leaving about 3 million children without an education as the school year begins, the United Nations Children's Fund said Friday. "Children in northeast Nigeria are living through so much horror," said Justin Forsyth, UNICEF's Deputy Executive Director at the end of a three-day visit to Maiduguri, the epicenter of the crisis in the northeast. "In addition to devastating malnutrition, violence and an outbreak of cholera, the attacks on schools is in danger of creating a lost generation of children, threatening their and the country's future." Banki, on the border with Cameroon, has been reduced to rubble. The continuing insecurity...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...
(AFP (eng) 09/28/17)
A leading Nigerian opposition politician on Thursday said he intended to run for president in 2019, becoming the first candidate to stake his claim for the country's top job. Peter Ayodele Fayose, the governor of the southwestern state of Ekiti, formally launched his bid to be the Peoples Democratic Party (PDP) candidate at an Abuja hotel. The 56-year-old has been one of the most outspoken critics of President Muhammadu Buhari and his ruling All Progressives Congress (APC) party. "This is to inform you formally that I will seek to contend the 2019 presidential election," he said in a speech. "I am confident that with your support as my party leaders and supporters I will defeat the incumbent president... in a...
(Bloomberg 09/28/17)
Nigeria plans to sell as much as $5.5 billion of Eurobonds in the next three months to fund capital projects and replace local-currency debt, according to the Debt Management Office. Yields on existing bonds rose. That would bring the amount raised through Eurobond sales by Africa’s most-populous nation this year to more than $7 billion as President Muhammadu Buhari’s administration restructures its debt portfolio to almost double the portion of foreign borrowing in a bid to reduce financing costs. The government wants to raise $2.5 billion in October to help fund 2017’s 7.4 trillion-naira ($20.8 billion) budget
(AFP (eng) 09/28/17)
Two people were killed when a convoy of civilian vehicles hit landmines in northeast Nigeria, a driver and a local militia member said on Wednesday. Babakura Kolo, from the Civilian Joint Task Force helping the military with security, said the blasts happened at Koibe village on the Mafa to Dikwa road in Borno state. "In the first incident which occurred around 12:00 pm (1100 GMT) a car carrying five people hit a mine. Two people died and three others sustained injuries," he told AFP. "Three minutes later a truck carrying passengers hit another explosive, resulting in the several injuries among the passengers. It is not clear how many people were wounded." A driver who gave his name only as Umar...
(Human Rights Watch 09/28/17)
(Abuja) – Cameroon’s military has carried out a mass forced return of 100,000 Nigerian asylum seekers in an effort to stem the spread of Boko Haram, Human Rights Watch said in a report released today. The deportations defy the UN refugee agency’s plea not to return anyone to northeast Nigeria “until the security and human rights situation has improved considerably,” and leaves deportees facing spiralling violence, displacement and destitution. The 55-page report, “‘They Forced Us Onto Trucks Like Animals’: Cameroon’s Mass Forced Return and Abuse of Nigerian Refugees,” documents that since early 2015, Cameroonian soldiers have tortured, assaulted, and sexually exploited Nigerian asylum seekers in remote border areas, denied them access to the UN refugee agency, and summarily deported, often...
(This Day Live 09/28/17)
The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has defended the Bank’s funding of the federal government through quantitative easing (QE), stating that there was no substance in the claim that the central bank was overfunding the government, on the one hand, and mopping up liquidity through special auctions, on the other. Emefiele dismissed the claim at the end of the two-day meeting of the Monetary Policy Committee (MPC) of the CBN Tuesday, where the committee for the 14th consecutive month retained the Monetary Policy Rate (MPR) at 14 per cent. The MPC also retained the Cash Reserve Ratio (CRR) at 22.5 per cent, Liquidity Ratio at 30.0 per cent, and the asymmetric corridor at +200 and -500...
(Daily Post 09/28/17)
The federal government has announced plans to build international rail lines that would connect Nigeria with neighbouring countries. The Minister of Transportation, Rotimi Amaechi, made this known at a seminar in Abuja, while speaking on the strategy being adopted by the ministry in the rail sector. Amaechi, whose speech was read by the ministry’s Director of Media, Yetunde Sonaike, said the Federal Government was working assiduously to implement the 25-year railway master plan. He stated that in the plan, the Federal Government “would complete the total rehabilitation of all the narrow gauge rail lines and put them to use. The Federal Government is currently discussing with General Electric on the concession agreement. “The government will construct and complete some standard...
(Cnbc Africa 09/28/17)
Analysts are warning that militants could soon wreak havoc on Nigeria's oil industry, plunging the African petrostate back into a cycle of sabotage. Nigeria, Africa's largest oil producer, has seen a period of relative calm in its restive southern delta region over the last year. Early in 2016, a series of spectacular attacks carried out by a mysterious group called the Niger Delta Avengers cratered Nigeria's oil production, exacerbating an economic crunch triggered by low oil prices. Nigeria's oil output has rebounded to 1.8 million barrels a day more quickly than anticipated this year. That has frustrated OPEC's efforts to drain a global crude glut through coordinated output cuts. A reversal would likely put upward pressure on oil prices. "It's...
(Bloomberg 09/28/17)
Coca-Cola Co.’s Nigerian operation will invest $600 million by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks. The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavored and condensed milk, iced tea and bottled water to meet demand in Africa’s most populous country, Peter Njonjo, the president of the West Africa operation, said in an interview at his office in Lagos, Nigeria’s commercial hub. “Our objective is to provide whatever beverages you need across your life stages,” he said. The money is part of a pledge by Coca-Cola to invest $17 billion in Africa by 2020. Global Chief Executive Officer James Quincey...
(Daily Post 09/28/17)
Former President Goodluck Jonathan has denied that he offered a bribe to Governor of Imo State, Rochas Okorocha, ahead of the 2015 presidential election. In a statement released by his spokesman, Ikechukwu Eze, Jonathan said he did not offer “huge sums of money and an influential ministry” to Okorocha in order to make him dump the All Progressives Congress (APC) for the Peoples Democratic Party (PDP). “We offer to quickly dismiss these claims as lies, because we are clear in our minds that such conversation never happened. “We are wondering whether this truly came from the governor because we are sure that even governor Okorocha himself did not believe that anybody would accept these claims. “In the first place, it...
(This Day Live 09/28/17)
Nigeria has decried the obsolete and old-fashioned composition of the United Nations (UN) Security Council, describing it as undemocratic. The country’s Permanent Representative to the UN, Prof. Tijjani Bande, speaking to newsmen in New York recently, said there was urgent need to reform the body. The Security Council is the UN’s most powerful organ with the primary responsibility of maintaining international peace and security as well as accepting new members to the UN. It is vested with the powers to establish peacekeeping operations and impose international sanctions. The council has the authorisation for military action through Security Council resolutions and remains the only UN body with the authority to issue binding resolutions on member states. However, Bande said the UN...
(This Day Live 09/28/17)
The federal government has decried the position of the United States that the proscribed Indigenous People of Biafra (IPOB) is not a terrorist organisation. The Nigerian authority outlawed the group which is demanding an independent state of Biafra and declared it a terrorist organisation, following the outcry that trailed the military exercise: Operation Python Dance II, launched by the military in Abia State, on September 11. Giving his insights on BBC Focus on Africa wednesday night, the Minister of Information and Culture, Lai Mohammed, described the US position on IPOB as “unfortunate.” Mohammad said terrorism has no boundary and called on all nations to work together to ensure it is defeated. “It is (US opinion) unfortunate, because if countries decide...
(Daily Post 09/28/17)
Cameroon government has sent 100,000 Nigerian refugees packing. The Human Rights Watch (HRW), which made this known, yesterday, said the deportation defied a plea by the United Nations (UN) refugee agency not to return anyone to the North Eastern, where Boko Haram has killed thousands of people, “until security and human rights situation improved considerably.” The group, which investigates allegations of human rights abuses worldwide, said the report was based on interviews with more than 60 refugees. It noted that soldiers tortured, assaulted and sexually exploited Nigerian asylum seekers and denied them access to the UN refugee agency. “The Cameroonian military torture and abuse of Nigerian refugees seems to be driven by an arbitrary decision to punish them for Boko...

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