Saturday 24 June 2017
(Bloomberg 07/02/13)
Armed with machetes and clubs, vigilantes in Nigeria’s northeastern city of Maiduguri are setting up roadblocks and conducting house-to-house searches to aid the army’s fight against Islamist militants. While the military welcomes the public’s support in the battle against the Boko Haram Islamist group, human rights activists say vigilantes’ activities may worsen violence and lead to abuses against innocent civilians. So far the vigilantes have seized more than 100 suspected insurgents in Maiduguri, the Borno state capital that has borne the brunt of Boko Haram’s violent campaign to impose Shariah law on Nigeria, according to Abubakar Malum, a leader in a group that calls itself the Civilian Joint Task Force. “The activities of the vigilantes is a step in the...
(Voice of America 07/02/13)
ABUJA — A Nigerian committee set up to negotiate with insurgent group Boko Haram is calling for Islamic leaders to help bridge the gap between the government and militants. But Islamic leaders say Boko Haram violence is unfairly associated with the Muslim religion. On April 24, Nigerian President Goodluck Jonathan formally set his “Amnesty Committee” to work. Their job was to find a way to negotiate with Boko Haram, a militant group that has killed thousands since it began violent operations in 2009. Less than three weeks later, the president said Boko Haram had captured territory and declared emergency rule in three northeastern states, Borno, Yobe and Adamawa, and sent thousands of troops to fight the group. At a conference...
(AFP (eng) 07/02/13)
Nineteen people died Tuesday when a MI-8 helicopter crashed in Russia's Yakutia region in eastern Siberia, the latest disaster to hit the country's accident-prone aviation industry, an aviation committee said. "There were three crew members and 25 passengers on board," the Interstate Aviation Committee said in a statement. "Nineteen people died, the aircraft burnt down," said the statement, citing the surviving crew members. Of the 25 passengers 11 were children, the emergencies ministry said in a separate statement without providing further details. The people died when the helicopter performed a hard landing, apparently in bad weather conditions, 45 kilometres (28 miles) northwest of the small town of Deputatsky in the Yakutia region in Russia's north. A plane with rescuers and...
(Ventures-Africa 07/02/13)
VENTURES AFRICA – Nigeria’s Dangote Cement Plc has assured stakeholders that it will continually ensure the stability of its cement price without compromising on the quality in a bid to guarantee high quality construction output at an affordable rate, The assurance came at the sensitization of stakeholders organized by the Standards Organisation of Nigeria (SON) ) – sponsored by Dangote Cement Plc – on the importance of using high standard building materials to avoid building collapses and substandard infrastructure output as they try to maximize profits. Dangote Cement’s Group Executive Director, Sales and Marketing, Knut Ulvemoen said the delicate nature of building industry does not allow for compromise on quality of materials used in the construction industry. He lamented the...
(Ventures-Africa 07/02/13)
VENTURES AFRICA – Foremost African entrepreneur, Alhaji Aliko Dangote has assured investors of having a good Return on Investment (ROI) in Nigeria.While speaking to a group of entrepreneurs in his office in Lagos, Alhaji Dangote said investors have little to worry about on the current challenges faced by the country as “they are necessary steps needed for the nation to rank among the best industrially in years to come.” Dangote, who is also member of Nigeria’s National Economic Management Team, urged local investors to complement the efforts of the Nigerian government in being among the best 20 developed countries in 2020; by engaging in manufacturing and investing in employment-generating businesses to empower Nigerians. He added that the situation in Nigeria...
(Voice of America 07/02/13)
President Obama is on the last leg of his three-nation tour of Africa, aimed at promoting U.S. trade with the continent. As Washington turns a fresh eye toward a continent that Obama describes as about to “take off," U.S. government officials and investors alike will find that geopolitical rival China has already made huge strides there. China’s footprint in Africa is huge. The 20-story African Union tower (in Addis Ababa, the capital city of Ethiopia) which Beijing donated to the continental group is a testament to the size of Beijing’s ambition. “Every country, as it achieves global greatness, seeks to leave behind major landmarks that become evidence of its ascendance into global power," said Wole Soboyejo. Winston Wole Soboyejo spoke...
(This Day Live 07/01/13)
Nigeria’s external reserves, which upswing had been restrained due to the volatility in crude oil prices as well as recent pressure faced by the naira, dipped by a total of $532 million to $48.150 billion in the second quarter of 2013. Data compiled from the Central Bank of Nigeria’s (CBN’s) website showed that the amount represented a decline by 1.09 per cent in the second quarter, compared to the $48.682 billion the reserves which are mainly derived from the proceeds of crude oil earning stood as at April 2nd. The naira continued its downward slide against the dollar last week as it was hurt at the interbank market. Specifically it fell by N3.50 to close at N162.50 to a dollar...
(This Day Live 07/01/13)
Holders of unlisted securities will have cause to cheer from tomorrow as a platform for them to trade those securities, the NASD Plc over-the-counter (OTC) market will become operational. The platform will be launched today in Lagos while trading will commence tomorrow. The special guests expected at the launch include: Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala; Minister of Industry, Trade and Investment, Olusegun Aganga, and Governor of the Central Bank of Nigeria(CBN), Mallam Sanusi Lamido Sanusi, while the keynote address would be delivered by , Chairman of Securities and Exchange Commission (SEC), Suleyman Ndanusa. According to the Chief Executive Officer (CEO) of the NASD Plc, Mr. Bola Ajomale, the NASD OTC market is to...
(This Day Live 07/01/13)
More facts have emerged on why former President Olusegun Obasanjo may have assumed an anti-President Goodluck Jonathan stance, even as the 2015 intrigues continue to gather steam. A source privy to a recent meeting where Obasanjo had expressed his displeasure to some close allies on how President Jonathan has been relating with him, said it all started when Obasanjo indicated his intention to resign as the chairman, Board of Trustees (BoT) of the Peoples Democratic Party (PDP) in April last year, a situation President Jonathan allegedly handled poorly. According to the source, the former president had expected the president to engage him in order to seek clarification on why he was leaving the office beyond the excuses he had advanced...
(National Mirror Online 07/01/13)
Senate President, David Mark, yesterday wept over the untimely death of Senator Pius Ewherido, whom he described as a forthright and vibrant parliamentarian. A statement from the Senate President’s media office, said Mark lamented that Ewherido, who until his death represented Delta Central senatorial district under the Democratic Peoples Party, DPP, in the upper legislative chamber, was one of the foremost and hardworking senators in the seventh Senate. He noted that Ewherido has, within his short but eventful membership of the Senate, displayed patriotism, commitment and has truly distinguished himself as a parliamentarian of a very high standard. “We have lost a true friend and colleague. We lost a vibrant and a very articulate senator. We have lost a patriotic...
(Daily Trust 07/01/13)
The Nigeria Navy, an integral force in federal government's battle against the increasing cases oil theft, may not be able to contain the scourge, Sunday Trust's investigations have revealed. Reliable naval sources confided in this publication last week in Port Harcourt that efforts of the Joint Task Force, comprising the Army, Navy and paramilitary agencies, in combing the creeks to arrest oil thieves have not been rewarded with prompt prosecution of the suspects. More significant, the sources added, the barons behind the crime are wealthy, influential and untouchable Nigerians whose continued engagement in the illegal trade would always make nonsense of the efforts of the task force. "Apparently, government lacks the political will to take on the big men behind...
(Bloomberg 07/01/13)
Shittu Ibrahim ekes out a living for his two wives and 11 children by selling tomatoes he grows to passersby along a highway that runs through the Kadawa Valley near Kano, the biggest city in northern Nigeria. With no way to find new customers, about two-thirds of his crop rots. Now the country’s central bank and Africa’s richest man, Aliko Dangote, have teamed up to establish a $25-million tomato-paste factory that could boost income for Ibrahim and the 8,000 farmers who live in the valley. “We are doing this only to feed, as you can see, I can’t afford the luxuries of life,” the stocky 56-year-old said as he sat on a stool on June 6 outside his mud-walled house,...
(National Mirror Online 07/01/13)
The West Africa Regional Manager, Emirates Airlines, Manoj Nair, has urged Nigerian Airlines to partner their foreign counterparts in developing Nigeria’s aviation industry. Nair who gave the advised during an interactive session with newsmen at the Murtala Mohammed International Airport, Lagos, noted that Nigeria was an important market in the West Africa sub-region, and that Emirates would need the partnership of the local airlines for connectivity for its Nigerian publics. He said that Emirates was bent on ensuring that Nigerian passengers have seamless travel experience across the world. “The key focus area for us is that our customer based connects well to the network that we have got as well as making sure that our vast network is connected to...
(Reuters (Eng) 07/01/13)
(Reuters) - Gunmen shot dead two civilians and then used explosives to free 175 inmates from a prison in Nigeria's southern town of Akure overnight, a prison official said on Sunday. Islamist sect Boko Haram and al Qaeda-linked group Ansaru have been behind several prison raids in recent years. It was not clear whether they were behind this jail break at Olokuta prison in Ondo state or whether they had members held there. "The unknown gunmen numbering over 20 came at about midnight into the Olokuta prison through the main gate after using dynamite," Prison Comptroller Tunde Olayiwola told Reuters. "The gunmen shot and killed two people while trying to get in ... Some of the escaped prisoners have been...
( 07/01/13)
Nigeria and Ghana are leading investments in agriculture in West Africa, as Agricultural investment in the world’s largest cocoa-producing region will grow “very significantly” by 2050, according to the Organization for Economic Cooperation and Development OECD. West African urbanization is increasing at the fastest rate in the world, due to population expansion and people moving from rural areas to cities Karim Dahou, an executive manager at the OECD’s directorate for financial and enterprise affairs, said last week in an interview at a conference in London. Population in West Africa has doubled every 20 years since 1960 and in cities the number of people has tripled, he said. “In West Africa, the natural resources are conducive to huge agricultural output, there’s...
(Ventures-Africa 07/01/13)
VENTURES AFRICA – US president Barack Obama at the weekend unveiled a $7 billion new US-led plan to increase access to electricity in Africa. Obama swore to assist Africa in bringing “light where there is currently darkness.” Obama made these remarks after visiting Robben Island, where Mandela, who is currently in hospital, spent almost two decades of his 27-year stay in jail. Electricity generation in Africa is acutely inadequate and unreliable. According to Eco Power Africa, Nigeria for example, a vast nation of 150 million people, has a generating capacity of 4,000 MW. “By comparison, New York City alone has a generating capacity of 13,000 MW. The shortfall encompasses both the generation and transmission infrastructure,” Eco Power Africa said in...
( 07/01/13)
Nigeria’s economic managers are probably peering nervously at the ticker price for bonny light crude oil right about now. While the nation’s $275 billion economy depends on oil revenues for only about 15 percent of economic output, according to NBS data, the price of crude has an outsized impact on everything from the naira exchange rate, to consolidated government revenues. “Several pressure points have developed in the Nigerian economy in recent weeks, which may expose the Achilles heel in the credit story, namely its vulnerability to a sharp and sustained decline in oil revenues,” FBN capital analysts, led by Gregory Kronsten, said in note released June 27. Global bonds, stocks and commodities have slumped beginning May 22 after United States...
(Voice of America 07/01/13)
CAPE TOWN, SOUTH AFRICA — U.S. President Barack Obama has outlined a new model for U.S. engagement with Africa, supporting greater economic opportunity and democracy, and African-led solutions to security. At the University of Cape Town, Mr. Obama presented a broad picture of his goals for U.S.-Africa policy, including assistance, trade and investment, health, and security cooperation. The speech was framed around the legacy Obama said former president Nelson Mandela has left for the continent. The most frequently used words and phrases in President Obama's speech in Cape Town on June 30, 2013. Courtesy of wordle.netThe most frequently used words and phrases in President Obama's speech in Cape Town on June 30, 2013. Courtesy of wordle.net. ​Earlier he and his...
( 07/01/13)
A growing trend of ailments plaguing the Nigerian populace, including non-communicable diseases (NCDs) such as hypertension, cancer and diabetes, is offering huge growth prospects for pharmaceutical companies challenged to manufacture drugs to address the situation. As growth opportunities continue to move away from traditional pharmaceutical markets (Europe and Latin America), most multinationals companies (MNCs) like Sanofi-Aventis, Novartis, Pfizer, and GSK Nigeria, have Africa in the sights of their expanding global footprints, with pharmaceutical spending in Africa, including Nigeria expected to reach $30 billion by 2016. This revelation, contained in the IMS Health Market Prognosis report titled “Africa: A ripe opportunity” showed that the pharmaceutical spending is driven by a 10.6 percent compound annual growth rate (CAGR) through 2016, second only...
(The Associated Press 06/30/13)
CAPE TOWN, South Africa (AP) — President Barack Obama on Sunday will announce a new initiative to double access to electric power in sub-Saharan Africa, part of his effort to build on the legacy of equality and opportunity forged by his personal hero, Nelson Mandela. Obama, who flew from Johannesburg to Cape Town Sunday, will pay tribute to the ailing 94-year-old Mandela throughout the day. The president and his family will visit Robben Island, where the anti-apartheid leader spent 18 years confined to a tiny cell, including a stop of the lime quarry where Mandela toiled and developed the lung problems that are ailing him today. The White House said Obama's guide during his tour of the island will be...

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