Tuesday 12 December 2017
(Business News (Ng) 08/28/13)
Nigerian Electricity Regulatory Commission (NERC) has admitted that consumers are paying inefficient price for electricity but attributed the situation to the unavailability of power supply. NERC Chairman, Dr. Sam Amadi who spoke in Lagos at a public forum between civil society groups and the commission, however assured that tariff would eventually reduce as generation increases. He explained that overtime the fixed charge element in the tariff regime would come down, as the amount of electricity supplied improves. “Power is unlike telecom where all you need to do is deregulate and you say come and buy spectrum which government auctions. Investors build their mast and become operational. “But in power the investor has to determine the market, who will buy the...
(Punch 08/28/13)
The Federal Government has invested additional N3 billion on Nigeria Railway by acquiring two telescopic railway cranes and four new locomotives to enhance service delivery in the sector. The Managing Director, Nigeria Railway Coprporation, NRC Engr. Adeseyi Sijuade disclosed this in Lagos while addressing news men at an event to flag-off container transportation from Lagos to Kaduna and Kano. According to him, the telescopic cranes cost N1 billion each while the four new locomotives cost N250 million each. He said the corporation will from 23rd of August, 2013 commence the haulage of bulk salt and sugar belonging to Dangote Nigeria Plc, to Kaduna and Kano, heralding a re-launch of the intercity container freight operations seventeen years after it grounded such...
(AFP (eng) 08/27/13)
MAIDUGURI, Nigeria — Two attacks by suspected Boko Haram insurgents have killed 24 people in Nigeria's northeast in the latest violence believed to be in revenge against vigilantes, residents and officials said Tuesday. A survivor and a hospital source spoke of 18 people killed in the town of Bama on Sunday. A resident and a military source said six people were killed in Damasak on Monday. The two locations are in Borno state, but are some 200 kilometres (124 miles) apart. The military has encouraged the formation of vigilante groups to help it track down Boko Haram members as it pursues an offensive in the northeast aiming to end the Islamist extremists' four-year insurgency. "They came in military uniform and...
(The Washington Times 08/27/13)
New gory details have emerged in what was first reported as the killing of 35 Muslim worshipers and the wounding of 14 last week in the town of Dumba village in Borno State, Nigeria. News of the tragedy was slow to emerge because the area where it happened is remote and because internet and phone lines had been cut off by authorities in the attempt to disrupt the activities of the terrorist group Boko Haram, suspected of the perpetrating the massacre. It was the second such incident in this month. New reporting today indicates that 44 victims had their throats slit, and the remaining victims had their eyes gouged out. An official of the National Emergency Management Agency (NEMA), speaking...
(Vanguard 08/27/13)
Maiduguri — LAST week reported massacre of 44 persons in Dumba village of Kukawa Local Government Area of Borno State, displaced of over 4000 persons, National Emergency Management Agency, NEMA, said Monday. This came as two babies were delivered in the camp. It would be recalled that suspected Boko Haram members terrorizing some states in the North, stormed Dumba Village located few kilometers away from Baga town and slaughtered 44 persons while many surviving residents fled the area for safety. NEMA in a release by its North-East zonal information officer, Abdulkadir Ibrahim, said over 4,000 internally displaced persons, IDPS, were registered in Baga town by NEMA. He said those displaced were mostly fishermen and farmers from Dumba village which was...
(Reuters (Eng) 08/27/13)
MAIDUGURI, Nigeria | (Reuters) - Nigerian Islamists killed 14 pro-government youth vigilantes in an attack on the northeastern town of Bama, a local official who attended a mass funeral for the victims said on Monday. Sunday's attack was one of a spate of deadly assaults by the Boko Haram Islamist sect this month that raises doubts about whether a military offensive against it since May can succeed. Local vigilante groups run by youth volunteers have been instrumental in helping the military capture Boko Haram members, but they have also made them a target for the insurgents, drawing civilians further into the conflict. Alhaji Baba Shehu Gulumba, chairman of Bama local council, told journalists in the nearest main city of Maiduguri...
( 08/27/13)
Lagos — Heavy rains have unleashed floods in parts of Nigeria, testing the country's emergency preparedness one year after its worst flooding in decades. Some 35,000 people have been affected, most of them in five states, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA). The 2012 floods affected around 7 million people. According to Nigeria's National Emergency Management Authority (NEMA), this year's floods have displaced some 600 people and caused one fatality in the northern Kano State, and about 20 bodies were unearthed at a cemetery in the state's Yan Kaba area. In Katsina State, also in the north, 55 farms were inundated by heavy rains. NEMA spokesman Ibrahim Farinloye said early warning and rapid relocation...
(This Day Live 08/27/13)
President Goodluck Jonathan has said some persons and sections of the country are threatening the nation's unity because of their desperate attempt to wrest power from him. According to him, this desperate attempt to wrest power from him is creating divisions and hatred in the polity. Jonathan, however, did not name the persons and which sections of the country he was referring to. The president, who was represented by the Minister of Justice and Attorney-General of the Federation, Mohammed Bello Adoke (SAN), spoke while declaring open the 53rd annual general conference of the Nigerian Bar Association (NBA) in Calabar, Cross River State. According to the president, some politicians were exploiting freedom of expression, association and information guaranteed by the constitution...
(This Day Live 08/27/13)
With no end in sight to the debilitating strike embarked on by the Academic Staff Union of Universities (ASUU), the federal government, which has been holding negotiations with the union for weeks, with the aim of reaching a compromise on its demands, may be forced to break off negotiations, THISDAY investigations have revealed. Arising from a meeting yesterday in Abuja, members of the committees set up by the federal government to negotiate with ASUU expressed their frustration that they had not been able to make any meaningful progress despite all the offers made to the lecturers and resolved to halt further negotiations. A source, who was privy to the meeting, informed THISDAY that the decision by the federal government’s negotiating...
(The Guardian Nigeria 08/27/13)
SENIOR government officials and business leaders will, next Thursday, meet in Abuja to design ways of expanding business opportunities along Nigeria’s Lagos-Kano-Jibiya (LAKAJI) corridor during the first LAKAJI Agricultural Growth Corridor Investment Summit. The summit forms part of the Nigeria Expanded Trade and Transport Program (NEXTT) to improve trade policy, support trade capacity building and remove bottlenecks to the free-flow of goods, especially agricultural goods, in Nigeria. It will also build on trade and transport activities begun under the USAID MARKETS (Maximising Agriculture Revenue in Key Enterprise and Target Site) Project and on the export promotion activities of the Nigeria Expanded Exports Program (NEEP). “The corridor is rapidly developing and it’s exciting that expert analysis and support to make the...
(Punch 08/27/13)
The Federal Government has said it is ready to grant approval to indigenous shipping firms to export crude oil and stem the nation’s huge capital flight. This is coming 17 years after the liquidation of the Nigerian National Shipping Line, which paved the way for only foreign marine tankers to move the nation’s crude oil. Nigeria is said to have lost over $100bn in five decades by allowing its crude oil to be carried exclusively by foreign owned tankers. The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and the Senior Special Adviser to the President on Maritime Sevices, Mr. Olugbenga Oyewole, spoke about the planned approval for local shipping firms to move crude oil on Friday at the unveiling of...
(Punch 08/27/13)
The President/Chief Executive Officer, Dangote Group, Alhaji Aliko Dangote, has urged the government to begin the production of petroleum products for export as part of strategies to diversify the nation’s export base. He made the call in a keynote address he presented at the 9th All Nigerian Editors’ Conference in Asaba, Delta State, on Friday. Dangote, who was represented by his Chief of Staff, Mr. Joseph Makoju, spoke on ‘Nigeria beyond oil’. He said with the discovery of crude oil in many African nations, the fall of oil prices in the international market, and the exploration of alternative sources of energy such as shale oil, the nation should seek ways of enhancing its economic sustainability. One of the strategies he...
(Nigerian Tribune 08/27/13)
FEW weeks after the killing of 43 people in a mosque in Konduga Local Government Area and another 44 in Baga town of Kukawa Local Government both in Borno State, 14 people were said to have been slaughtered, while 9 others sustained knives or cutlass injuries when suspected Boko Haram sect members ambushed residents of Bama Local Government Area of Borno State at the weekend. Nigerian Tribune learnt that gunmen stormed some houses and resorted to the use of knives and cutlasses to kill their victims because firing gunshots will attract the attention of security agencies and men of the vigilante youths, popularly known as “civilian JTF”. Bama, about 67 kilometres away from Maiduguri the Borno state capital had been...
(National Mirror Online 08/27/13)
If report this month’s report of the Financial Derivatives Company (FDC) is anything to go by, things are not looking up in the real estate market in Port Harcourt, River State. Reasons being that investors and buyers are sceptical about their investments due to the unresolved House of Assembly crisis, Governor Rotimi Amechi and the Nigeria Governors’Forum (NGF) imbroglio and crime in the state. All these issues have impacted negatively on luxury apartments in the Garden city with high record of vacancy ratio. According to FDC report, luxury apartments are the worst hit with only 20 per cent occupancy rate, while small apartments have 80 per cent occupancy rate The report said, “Real estate in PH will likely remain unchanged...
(Punch 08/27/13)
The Federal Government has unveiled plans to establish a special finance institution that will attract funds into the economy at lower interest rates. The Minister of Finance and the Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, stated this on Friday in Ilorin during her visit to KAM Industries Nigeria Limited’s multi-billion naira cold steel rolling mill. She said the bank, which could be established in the next 15 to 18 months, would lend funds to the Bank of Industry, Bank of Agriculture and commercial banks to ensure that interest rates were reduced to a sustainable level for indigenous industries to grow. Okonjo-Iweala said the government was concerned about the high interest rates being charged by banks and was working...
(Vanguard 08/27/13)
Abuja — Minister of Power, Prof. Chinedu Nebo, yesterday, said the investments recorded in the telecommunication sector since the introduction of the mobile telephone services in the country would be dwarfed by investment in the power sector, once the ongoing reforms in the sector took firm footing. He spoke to newsmen after a meeting of the Presidential Action Committee on Power, adding that so far, government had accessed loans from various international lending agencies to fund the expansion of transmission infrastructure to the tune of $1.6 billion. He said: "We have substantial amount of funding coming in form of loans from the World Bank, African Development Bank, Euro Bond Issue and Chinese Exim Bank and NDPHC had already designated $1.6...
(National Mirror Online 08/27/13)
The Federal Government has concluded plans to secure a $1.6bn (N256bn) loan for the expansion of power transmission facilities in the country. The loan is being sourced from the World Bank, African Development Bank, Chinese Exim Bank in addition to the issuance of a Eurobond. Minister of Power, Prof. Chinedu Nebo, announced this to State House correspondents yesterday after the meeting of the Presidential Action Committee on Power, PACP, chaired by President Goodluck Jonathan. He said that the discussion at the meeting was about expanding the transmission network to ensure that there was adequate wheeling capacity to the power generating plants. “The presentation today was by the Transmission Company of Nigeria, TCN, and that was to explain to the PACP...
(CBS News 08/27/13)
Funds for projects to encourage religious freedom, including in Eastern Europe, South Caucasus. Foreign Affairs Minister John Baird and Andrew Bennett, Canada's ambassador for religious freedom, are announcing $1.2 million for projects to promote tolerance for religions around the world. The office, which is modelled on a similar department in the U.S., aims to protect and advocate on behalf of religious minorities under threat, and oppose hatred and intolerance for religion, according to the website of the Department of Foreign Affairs. The government will provide: $553,643 over two years for the promotion of "intercommunity dialogue and conflict mediation" in Jos, Nigeria, and other parts of Nigeria’s Plateau State to develop local mediation capacity and bring together community and religious leaders...
(National Mirror Online 08/27/13)
Edo State Governor Adams Oshiomhole may not be enthusiastic to sign the bill criminalising kidnapping by death, which the House of Assembly recently passed into law. Oshiomhole explained at the weekend that signing death warrants of convicted kidnappers, which he was ready to do, was a signal that the state “is a wrong place for criminal activities” especially as the non-execution of convicted criminals in the last 17 years had not reduced crimes in the state. Receiving the Conference of Non-Governmental Organisations (CONGOs) at the Government House in Benin, the governor said: “There are seven convicts whose cases are being reviewed. I will sign the death warrant of any of them, especially kidnappers, found to have killed any of their...
(Business News (Ng) 08/27/13)
The naira, on Monday, closed flat against the U.S dollar on the interbank market as two multinational oil companies sold about $107 million to some lenders. Exxon Mobil sold $72.2 million, while Italian oil firm, Eni’s Nigerian unit sold $35 million.Naira Vs Dollars. The naira closed at 161.48 to a dollar, after weakening to 162 naira during intra-day trade. Continuous demand for the dollar has mounted pressure on the naira despite measures by the Central Bank of Nigeria (CBN) to tighten liquidity in the banking sector. The CBN sold $300 million at 155.76 naira to the dollar on Monday, compared to $290.5 million it sold the same rate at last Wednesday’s auction. [Nigerian Telegraph]

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