Thursday 22 February 2018
(Reuters (Eng) 09/06/13)
ABUJA, Sept 6 (Reuters) - Nigeria's economy grew at a slower rate in the second quarter than the previous quarter, as oil output from Africa's largest producer slipped due to theft and pipeline shutdowns, data showed on Friday. The economy, Africa's second largest, grew 6.18 percent year-on-year in the second quarter, a touch lower than the previous quarter's 6.56 percent, the National Bureau of Statistics (NBS) said. Crude oil output averaged 2.11 million barrels per day (bpd), down from 2.29 million bpd in the first quarter. "While the oil sector experienced production challenges, the non-oil sector output increased in the second quarter," the NBS quarterly report said. "The non-oil sector growth was driven by growth in activities recorded in the...
(This Day Live 09/06/13)
The families of 91 police officers killed in Boko Haram attacks in Kano State were yesterday presented with N35.7 million by the authorities of the Nigerian Police. The families of the deceased were handed over their cheques by the Assistant Inspector -General of Police, AIG, in-charge of Zone One, David Omojola. He said the exercise covered the third batch of victims’ families being assisted by the police. He said the money, which is an insurance coverage for the officers and men is meant to alleviate the sufferings of the deceased families and those who sustained injuries at various times in the course of their duties. According to him, the money should not be seen as compensation to the families of...
(National Mirror Online 09/06/13)
In spite of the emergency rule declared in three states in the northern part of the country, tragedy resurfaced again in Borno State yesterday. About 20 people were feared killed while several others sustained injuries when some suspected Boko Haram members launched separate attacks in Gajiram and Bulabulin Ngawra villages in the state. Bulabulin Ngawra is in Konduga Local Government Area while Gajiram is in Nganzai Local Government Area. The secretariat complex of Nganzai Local Government, two primary schools, a clinic and some residential houses were also set ablaze by the attackers. Nganzai is about 73 kilometres from Maiduguri, the state capital, and Bullabulin Ngawra 45 kilometres away. Both councils are linked and have borders with the terrorists’ camps in...
(Reuters (Eng) 09/06/13)
LAGOS, Sept 6 | (Reuters) - Nigeria's naira weakened to a fresh 20-month low against the U.S. dollar on the interbank market on Friday, as direct central bank forex sales to lenders failed to meet demand, traders said. The naira closed at 164.1 to the dollar, compared with a 163.6 close on the previous day. The local currency fell to 163.7 to the dollar on Aug. 29, its weakest level since Dec. 22, 2011 when it ended at 164.5 to the dollar. The central bank sold dollars to some lenders directly towards the end of trading but the volume was not enough to calm the market and support the local currency, traders said. Nigeria's central bank in July hiked the...
(The Guardian 09/06/13)
As legal team prepares for talks, gulf between what company and impoverished villagers claim happened remains vast. Five years after a Shell pipeline burst twice, massively polluting fishing grounds in the Niger delta, the company will finally sit down on Monday with affected villagers to negotiate compensation and possibly start to clean up what some experts say was one of the largest spills in one of the world's poorest regions. But as Shell's top legal team prepared to fly to Nigeria for talks in a Port Harcourt hotel, the gulf between what the $175bn (£112bn) a year company and the impoverished villagers of Bodo claim happened in 2008 remains vast. Shell admits liability for the spills and, using figures from...
(International Business Times 09/06/13)
One of the most perplexing features of Nigeria's economy is its dependence on fuel imports. The country is Africa's largest oil producer, with output close to 2 million barrels of crude per day; while consumption amounts to just 267,000 bpd. And yet, the country imports a whopping three-fourths of its domestically consumed oil from abroad. The problem is a lack of refineries. Those that exist are theoretically capable of churning out 445,000 bpd of usable fuel, but maintenance problems keep the real output around half that figure. Now, Africa's richest man is stepping in with a possible solution. Aliko Dangote, founder of Dangote Industries, just signed a $3.3 billion loan deal to build Africa's largest refinery in Nigeria's southwest, along...
(AL Jazeera 09/06/13)
Men suspected to be members of Boko Haram storm town of Gajiran in Borno state, killing at least 15, residents say. Gunmen suspected to be members of the armed Boko Haram group have stormed the northeast Nigerian town of Gajiran, opening fire in a market and killing 15 people, the AFP news agency reported. Borno state in the northeast, where the latest violence occurred, is a Boko Haram stronghold and has seen a spate of similar attacks on locals in recent weeks. Residents of Gajiran, speaking to journalists in the state capital Maiduguri, said the gunmen involved in Thursday's attack pretended to be traders attending a local market. "Some of them came aboard trucks while others came on foot to...
(National Mirror Online 09/06/13)
National Chairman of the Peoples Democratic Party, PDP, Alhaji Bamanga Tukur, has been told to stop making inflammatory statements capable of escalating the crises in the party. Chairman, Board of Trustees of the PDP, Chief Tony Anenih, yesterday said the utterances of Tukur and those of the factional chairman, Alhaji Abubakar Baraje, could jeopardise the reconciliatory efforts in the party. Undaunted however, Tukur yesterday described former Vice-President Atiku Abubakar, Governors Rabiu Kwankwaso (Kano), Babangida Aliyu (Niger), Aliyu Wamakko (Sokoto), Sule Lamido (Jigawa), Abdufatah Ahmed (Kwara), Murtala Nyako (Adamawa), Rotimi Amaechi (Rivers) and National Assembly members who have aligned with the new PDP as prodigal sons and daughters. He warned members of the factional party to retrace their steps now or...
(Standard Digital 09/06/13)
The Kenya business community will today host a team of high-profile Nigerian businessmen and women in a forum where an agreement to improve trade ties will be signed. The Kenya National Chamber of Commerce and Industry (KNCCI) will lead the Kenyan side in the talks where an MOU with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) will be signed in a bid to promote trade and investment for growth and prosperity of both Nigeria and Kenya. The Nigerian Chamber of Commerce National President Alh Muhammad Abubakar will lead a group of influential businessmen such as billionaire Aliko Dangote, and 50 other wealthy investors in a fleet of seven private jets in accompanying President Goodluck Jonathan...
(Business Day 09/06/13)
ABUJA — Nigeria is reforming its farming sector to bolster production and draw investment but companies said this week that more needs to be done to tackle entrenched corruption, poor infrastructure and rogue government agencies. Nigeria’s annual economic summit focused on agriculture for the first time, in line with President Goodluck Jonathan’s commitment to fixing Nigeria’s biggest employer. Agriculture Minister Akinwumi Adesina, who has been praised by donors and businesses for his efforts, was keen to stress the success of reforms begun two years ago. He said subsidies used to reduced the cost of fertiliser for farmers were no longer managed by corrupt politicians but instead were given directly to farmers. Food imports had fallen by 850-billion naira ($5.2bn) and...
(Voice of America 09/06/13)
ABUJA — Nigeria is reforming its farming sector to bolster production and draw investment but companies this week said more needs to be done to tackle entrenched corruption, poor infrastructure and rogue government agencies. Nigeria's annual economic summit focused on agriculture for the first time, in line with President Goodluck Jonathan's commitment to fixing Nigeria's biggest employer. Nigeria's Minister of Agriculture Akinwunmi Adesina addresses the 19th Nigerian Economic Summit Group meeting in Abuja, Sept. 3, 2013.Nigeria's Minister of Agriculture Akinwunmi Adesina addresses the 19th Nigerian Economic Summit Group meeting in Abuja, Sept. 3, 2013. Agriculture Minister Akinwumi Adesina, who has been praised by donors and businesses for his efforts, was keen to stress the success of reforms began two years...
(Reuters (Eng) 09/06/13)
LONDON | (Reuters) - Compensation talks will begin in Nigeria on Monday between lawyers for Royal Dutch Shell and for 15,000 Nigerian villagers who say their livelihoods were destroyed by oil spills from pipelines operated by the company. The Nigerians launched a suit against Shell at the High Court in London in March 2012, seeking millions of dollars in compensation for two oil spills in 2008 that polluted the waterways of the Bodo fishing communities in the Niger Delta. The legal action is being closely watched by the industry and by environmentalists for precedents that could have an impact on other big pollution claims against oil majors. A vast maze of mangrove swamps and creeks, the Niger Delta is home...
(This Day Live 09/06/13)
Employees of Power Holding Company of Nigeria (PHCN) Thursday warned the federal government against handing over PHCN facilities to investors without the resolution of labour issues in the sector. Speaking under the umbrella of National Union of Electricity Employees (NUEE), the employees warned investors to steer clear from PHCN facilities pending the resolution of all labour-related issues. The union, in a petition to the Power Minister, Prof. Chinedu Nebo, expressed regret over government’s unwillingness to conclusively address the labour issues in the sector before making public its intention to commence the handover of PHCN facilities to investors. The letter signed by the union’s Secretary, Joe Ajaero, accused government of making bogus statements to earn public trust and credibility, while the...
(This Day Live 09/06/13)
In line with the joint operating agreement (JOA) governing joint venture oil concessions, the Nigerian National Petroleum Corporation (NNPC) has warned investors interested in three shallow water oil blocks offered for sale by Chevron that buyers may lose the right to operate them, Reuters reported Thursday. US-based Chevron is selling minority stakes in joint ventures that operate five oil blocks, in which NNPC is the majority owner. NNPC published a notice in newspapers Thursday saying there had been a “recent high level of interest shown by various investors in the ongoing divestment programme for OMLs 52, 53 and 55 by Chevron Nigeria.” It reminded those considering investing that, although Chevron currently operates the blocks, the state oil firm has the...
(Vanguard 09/06/13)
The Nigerian National Petroleum Corporation, NNPC, Thursday, said it will revoke the operating licenses of the three oil blocks put up for sale by Chevron Nigeria upon their acquisition by a new investor.The Nigerian National Petroleum Corporation, in a notice, Thursday, issued a caveat to proposed buyers of the three oil blocks offered for sale by Chevron, saying that acquisition of the blocks does not guarantee automatic license to operate the blocks. According to a notice by the NNPC, the warning becomes necessary in the light of recent high level interest shown by various investors in the ongoing divestment programme for Oil Minerals Licenses, OML, 52, 53 and 55 by Chevron Nigeria. The NNPC stated that although Chevron currently operates...
(National Mirror Online 09/06/13)
By the end of this year, telecoms operators in Nigeria may have spent an estimated N198bn worth of diesel to run their telecoms installations, especially the base stations, National Mirror investigation has revealed. The cost will be incurred as a result of the increasing cost of purchasing diesel to run their installations in the country, now estimated at N16.5bn monthly in the absence of stable public electricity supply. It was gathered that in spite of about 4,500 megawatts of electricity capacity generated in the country, telecoms operators, whose operations depend wholly on stable power source, continue to stagger under heavy cost of diesel used to run generating sets at their cell sites. According to the Minister of Communication Technology, Mrs...
(Business Day 09/06/13)
Multinational companies operating in Africa are hitting back at claims that government coffers are being eroded by deliberate intragroup mispricing and shifting of profits across borders to pay significantly less tax. Apart from a lack of clarity on what guidelines to use, reports of bribes to resolve tax disputes, poorly educated tax officials focusing only on their bonuses, and a lack of will to follow global guidelines are emerging. Governments are concerned that money they should be receiving is being diverted to other countries, which then receive the tax revenue. This is leading to major moves by tax authorities to ensure transactions between related companies or parties, such as employers and employees, are done at arm’s length. This means these...
(The Nation 09/06/13)
The Commandant, Nigeria Army Peacekeeping Centre, Maj.-Gen. Salihu Uba, on Friday said 700 soldiers would be deployed for Peace Support Operation in Liberia. Uba said at the end of the pre-deployment training conducted for the soldiers at the centre in Jaji, Kaduna State that the personnel, drawn from the 22 Battalion, would serve for six months. The News Agency of Nigeria reports that he commended them for their professionalism, and urged them to be good ambassadors of Nigeria. The commandant assured that the centre would continue to expand its facilities “to provide first class training to troops and participants.” “The vision of the Nigerian Army peacekeeping centre is to deliver realistic training to potential peacekeepers for the multidimensional challenges of...
(National Mirror Online 09/06/13)
Nigerian students have threatened to shut down academic activities in private universities across the country if the Federal Government fails to urgently accede to the demands of striking Academic Staff Union of Nigerian Universities, ASUU, members. . The National Association of Nigerian Students, NANS, said the action became imperative to compel government officials and prominent Nigerians whose children were in private universities to intervene in the matter. The students spoke yesterday during a protest in Ado-Ekiti, the Ekiti State capital. The protest was meant seek end to the over twomonth- old ASUU strike. NANS Director of Action and Mobilisation in the South-West, Mr. Sunday Asefon, said the placards-carrying protesting students were annoyed by the Federal Government’s insensitivity to the plight...
(The Guardian 09/06/13)
Scheme could herald a 'green gold' revolution as mines commit to ban child labour, enforce safety rules and prevent toxic run off. In a bustling area of Nyarugusu, in the heart of Tanzania's gold lands, a stocky man is fanning a dustbin lid of smouldering charcoal, gold ore and mercury on the pavement. Each waft sends a cloud of toxic vapour into the faces of children and adults as they gather to watch. The burning of mercury is a common sight in the streets, homes and cottage-industry mines throughout east Africa. The liquid metal is used to extract the gold and then vaporised to leave behind flakes of the precious metal. But in this dangerous industry, seeds of a gold...

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