Sunday 22 April 2018
( 09/23/13)
Notwithstanding his constant denial that he has made up his mind to seek re-election in 2015, President Goodluck Jonathan has already kick-started his campaign in the United States. A major outfit, the Goodluck Jonathan Support Group (GJSG), run by his foot soldiers has berthed in America. The group's national coordinator is President Jonathan's political adviser, Ahmed Ali Gulak, and it is oiled by the chairperson of a federal government agency. GJSG was recently inaugurated in Abuja. The launch of the US chapter of GJSG by Gulak came three days to the visit of President Jonathan to the country where he had gone to attend the meeting of the United Nations General Assembly. But the presidency has denied that it gave...
(Vanguard 09/23/13)
Lagos — The death toll from last week's attack in Borno State that saw insurgents dressed as soldiers, set up checkpoints and gun down travellers on a highway, has risen to, at least, 142. Abdulaziz Kolomi, an official with the Environmental Protection Agency in the state said, yesterday, that "we recovered 55 bodies on Wednesday and 87 on Thursday". The previous toll from the attack late Tuesday in the Benisheik area was 87. The insurgents, suspected to be from Islamist extremist group, Boko Haram, also burnt scores of homes and buildings in the assault and left corpses littering the roadside. The motivation behind the assault was not immediately clear, but Boko Haram members have repeatedly carried out revenge attacks against...
(This Day Live 09/23/13)
The Nigerian equities market rose by 41 per cent or N3.338 trillion, one year after market making (MM) was introduced by the management of the Nigerian Stock Exchange (NSE), THISDAY checks have revealed. MM is the process whereby a broker-dealer provides continuous two-way quotes (comprising buy and sell prices and sizes) to the market for the securities that they make markets on during the trading day. One way of the two-way quotes, indicates the price and size the broker-dealer is willing to buy a particular security, called the 'bid' while the other way indicates the price and size he is willing to sell that same security, called the 'ask', or 'offer.' The MM became operational September 18, 2012 and checks...
(Ventures-Africa 09/23/13)
VENTURES AFRICA – Nigeria, Africa’s second largest economy with a gross domestic product (GDP) of $263 billion, is one of the world’s fastest-growing economies. According to the World Bank and Euromonitor International, the country’s middle class has risen by 28 percent while its GDP based on purchasing power has increased by 21.67 percent in the last four years. The rise in consumer spending, coupled with the convenience of online transactions, has boosted the growth of Internet-based businesses in the country. Industry Players. Nigeria’s Internet business industry is estimated to be worth $250 million. General merchandise online retailer Jumia, co-founded in June 2012 by a Ghanaian Harvard Business School graduate, Raphael Afaedor, together with Berlinbased Internet start-up incubator, Rocket Internet, is...
(The Sun 09/23/13)
President Goodluck Jonathan has indicated that as from next year, working-class Nigerians will have easy access to car and housing loans to shield them from corruption in the effort to own these items. The president said the pressure to acquire these facilities lures workers both in the public and private sectors to indulge in untoward practices. In pursuit of this lofty initiative, a mortgage refinance company established by the Federal Ministry of Finance with majority private sector involvement will address the acute housing shortfall in the country. This reintroduction of car and housing loans will, hopefully, elicit more commitment from the potential beneficiaries and encourage honesty and hard work. Nothing poses a challenge to workers as much as accommodation and...
(The Sun 09/23/13)
The House of Representatives, over the weekend denied the rumour making the rounds that the diplomatic passport of the Speaker, Hon Aminu Tambuwal has been withdrawn by the Presidency. This came as the lower chamber restated that it had no knowledge of plots by the lawmakers to impeach Tambuwal. Spokesman of the House, Zakari Mohammed, said the chamber was only concerned about the successful implementation of the 2013 budget and not impeachment of the speaker. The factional Chairman of the Peoples Democratic Party (PDP), Alhaji Kawu Baraje, had raised the alarm over plots to impeach the leadership of the National Assembly. Baraje who attributed the purported plan to the free access to the two chambers of the National Assembly, granted...
(National Mirror Online 09/23/13)
Financial analysts have expressed fear that the Central Bank of Nigeria, CBN, may officially lower its targeted trading range for the naira amid declining oil production and dwindling foreign reserves. For many months, the CBN has been trying to keep the naira within the targeted +/- 3 per cent band around N155, but the unit has hovered around the N162 to N163 level in recent months, due to strong demand for dollars. It touched a 20-month low of N163.70 to the dollar three weeks ago. While the CBN had said it would not devalue, market watchers say the apex bank may be forced to adjust the exchange rate if the current situation where losses to oil theft and illegal bunkering...
(Punch 09/23/13)
Equipment vandalism, which has continued to plague power distribution in the country, is showing no sign of abating and experts have warned that new investors in the 10 distribution companies across the country are facing the challenge. Some senior officials of the Power Holding Company of Nigeria, said the menace had assumed a wider dimension since the middle of last year with its attendant huge financial losses. A total of 69 distribution transformer substations belonging to the Ikeja Distribution Company were reportedly vandalised in 2012, while various electrical items were also stolen. Similarly, the Manager, PHCN Ikeja Business Unit, Mr. Lateef Olaleye, noted with dismay that the vandals were disguising as cart pushers to vandalise electrical installations in the district...
(This Day Live 09/23/13)
Worried by increasing congestion, allegations of arbitrary charges by terminal operators and delay in goods delivery at the Tin Can Island port, the Nigerian Shippers Council (NSC) has intervened in a bid to find a lasting solution to the crisis, reports Francis Ugwoke. The past few months have been very traumatic for importers and their agents doing business at the Tin Can Island port. Apart from the chaotic traffic situation on the road leading to the port, freight forwarders have been having nightmare locating their containers and taking delivery out of the seaport. Both terminal operators and service providers have been blamed for this problem. The terminal operator, Tin Can Island Container Terminal Limited (TICT) and Cotecna Limited which is...
(This Day Live 09/23/13)
The National Human Rights Commission (NHRC) has launched a probe into last Friday’s gun duel in Abuja between security agents and suspected members of the outlawed Boko Haram terrorist group. Some seven persons were said to have been killed during a raid by a combined team of soldiers and State Security Service (SSS) operatives on an uncompleted building in Abuja believed to have been inhabited by suspected terrorists. However, official account on the raid in which no fewer than 12 persons were arrested and scores of others injured, has stirred controversy as some of the victims claimed they were not Boko Haram members but illegal occupants of the building. The security agencies had claimed that they carried out the raid...
(Vanguard 09/23/13)
There were indications last night that the peace talks slated for October 7, 2013 between the Presidency and the leadership of the People's Democratic Party, PDP, on one hand and the protagonists of the breakaway faction, might not hold after all. Vanguard learnt that there were fears that the Presidency was suspicious that the forces behind the nPDP were not sincere in resolving the crisis. The suspicion of the Presidency stemmed from allegations that the faction was merely trying to buy time to consolidate its position and destabilise the mainstream party while bracing for the 2015 election. The G7 on the other hand is believed to have written off the series of peace talks as a ploy by the Presidency...
(AL Jazeera 09/23/13)
Witnesses dispute official account of clash with Boko Haram fighters, just days after deadly attack by group in Borno. At least seven people have been killed in the Nigerian capital Abuja in what security forces said was a shootout with Boko Haram, but witnesses at a hospital said it was an attack on unarmed squatters. The incident happened in a building near a walled-off residential compound for legislators on Friday. Nigeria's SSS intelligence service said its forces had been searching an area behind the Apo Legislative Quarters for weapons after a tip-off from arrested members of the anti-government Boko Haram group when they came under fire and shot back. It mentioned injuries but no deaths. If Boko Haram, which wants...
(Business News (Ng) 09/23/13)
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has declared that it will embark on industrial strike in Akwa Ibom state today (Monday) over plans by Mobil Producing Nigeria Unlimited to sack its members. The union in a statement issued on Sunday by its General Secretary, Isaac Aberare, said the strike was as a result of the labour contract staff policy in Mobil Producing Nigeria Unlimited that have been systematically separated and replaced with new contracts. It said such negates the collective bargaining agreement signed with NUPENG. “It is pertinent to note that these new employees use Mobil Producing Nigeria Unlimited tools, equipment, machinery and vehicles to carry out their daily routine, yet they are denied the benefits...
(CNN 09/23/13)
(CNN) -- Africa is in the middle of an amazing demographic shift. Our continent is the only one where the size of the younger generation is rising significantly. Our population is already 16 years younger than in China, and this is only the beginning. Within less than three generations, four out of ten of the world's youth will live on our continent. This demographic dividend -- and the energy and enthusiasm it brings -- offers us a unique advantage which other continents facing the prospect of a rapidly aging population and dwindling workforce can only envy. In a world changing with breakneck speed, it is young people who are best equipped to identify and deliver fresh solutions to our problems...
(AL Jazeera 09/21/13)
Witnesses dispute official account of clash with Boko Haram fighters, just days after deadly attack by group in Borno. At least seven people have been killed in the Nigerian capital Abuja in what security forces said was a shootout with Boko Haram, but witnesses at a hospital said it was an attack on unarmed squatters. The incident happened in a building near a walled-off residential compound for legislators on Friday. Nigeria's SSS intelligence service said its forces had been searching an area behind the Apo Legislative Quarters for weapons after a tip-off from arrested members of the anti-government Boko Haram group when they came under fire and shot back. It mentioned injuries but no deaths. If Boko Haram, which wants...
(Voice of America 09/21/13)
Nigerian officials say the death toll from an attack by Islamist militants earlier this week has risen to 143. An official with the Environmental Protection Agency said authorities have been collecting corpses since the attack took place Tuesday in northeastern Borno state. Militants believed to be from the group Boko Haram burned scores of homes and buildings in and around the town of Benisheik. Residents said the militants also pulled people from their cars to kill them. Local witnesses said that the Boko Haram fighters were better armed than soldiers who tried to fight them, and that the militants looted the town, taking away food and numerous vehicles. In a separate incident on Friday, Nigerian officials said nine suspected members...
(Voice of America 09/21/13)
WASHINGTON, DC — Can the United States take a trade law that’s helping to increase African exports, and make it better? That’s what African and American politicians, economists and policy makers are discussing as they consider the future of the African Growth and Opportunity Act, or AGOA. The legislation, which expires in two years, drops duties and tariffs on thousands of products from the continent. Supporters say it’s generated hundreds of billions of dollars in trade and investment opportunities. Most African development specialists and policy makers would like to see AGOA extended, at least for another ten years. Some would like to add other low income countries outside Africa or include a wider range of products. A new study by...
(AFP (eng) 09/20/13)
ABUJA, September 20, 2013 (AFP) - Nigerian forces battled Boko Haram insurgents in the capital Abuja Friday as the military sent troops to a town where the Islamists slaughtered at least 87 people, casting doubt on claims that the group's rebellion has been contained. Boko Haram fighters opened fire on security agents in the capital who -- acting on a tipoff from arrested insurgents -- were searching for a weapons cache purportedly hidden in an unfinished building. They began "digging for arms" shortly after midnight, said Marilyn Ogar, spokeswoman for Nigeria's main intelligence branch. They then "came under heavy gunfire attack by...Boko Haram elements within the area, which prompted immediate response from the security team," she said in a statement...
(Voice of America 09/20/13)
ABUJA — Nigerian forces and members of Boko Haram clashed in a shootout near the main residential compound for lawmakers in Abuja on Friday, state security services said, the first clash involving Islamist militants in the capital this year. A security team was searching for weapons after a tip-off from arrested members of Boko Haram, a militant group that wants to impose sharia law in northern Nigeria and has been responsible for hundreds of killings this year. Boko Haram is seen as the gravest security threat to Africa's top oil producer. Although its activities are mostly located hundreds of miles away from its southern oil fields, its small presence in the political capital worries officials. "Some persons were injured and...
(National Mirror Online 09/20/13)
The Senate has summoned the Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo- Iweala, and the Minister of State, Dr. Yerima Ngama, to appear before the committee on finance and appropriation to explain the level of implementation of the 2013 Budget Act. The ministers are also to clear the air on the statement credited to Ngama that the 2013 budget is unimplementable because of the dwindling federal revenue. The summons was consequent upon the adoption of the motion by the Deputy Senate Leader, Senator Abdul Ningi (Bauchi Central), and 17 others on the “2013 budget and alleged over bloated revenue estimates.” The motion followed the newspaper report credited to Ngama that the Federal Government would not...

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