Monday 20 November 2017
(The Sun 06/12/13)
Lagos Governor, Mr. Babatunde Fashola has said the state government would rebuild the burnt spare parts market gutted by fire on Sunday night at Olodi-Apapa Area of the state. Fashola, who disclosed this when he inspected the market to assess the level of damage said the state government would assist the traders to build a more organized, safer market. He said: “The rebuilding process would be a synergy between the traders and the government.” The governor was received in the market by traders who brandished placards with various inscriptions and solicited the assistance of the state government to rebuild their burnt shops. He assured that the process of rebuilding the market would be rapid. Fashola, who was conducted round the...
(This Day Live 06/12/13)
The Bankers' Committee Tuesday said it was seeking ways of encouraging participation in the bond market so as to provide the country the opportunity to tap into available pool of funds for developmental purposes. Rising from its 313th meeting, which was held in Abuja, the committee said it was discussing ways of removing impediments to the development of the bond market. Also, it said effort had reached remarkable level on how to encourage the development of affordable housing by banks. As a result of that, the committee expressed support for plans to establish a Mortgage Refinancing Company (MRC) in conjunction with the Federal Ministry of Finance. Addressing journalists at the end of the meeting, Group Managing Director, Stanbic IBTC Bank,...
(Vanguard 06/12/13)
Abuja- The Federal Government is rolling out plans to use space technology to enhance national security, communication, industrialisation and sustained socio-economic development. President Goodluck Jonathan made this known on Tuesday when he inaugurated a 13-member National Space Council (NSC) at the Presidential Villa, Abuja. He said that given the critical place of space technology in national security, communication, industrialisation and sustained socio-economic development, the need to properly structure and drive the national space programme could not be over-emphasised. “This informs why our administration has constituted this council with high calibre membership. “We must evolve clear cut initiatives that will not only fast-track our industrialisation process, but one that will also see us, within the shortest possible period, to be able...
(National Mirror Online 06/12/13)
Information minister, Mr. Labaran Maku has said that going by the development in the solid minerals sector, the sector will in the nearest future, fetch Nigeria more revenue than the oil and gas sector. Maku gave the hint yesterday in his remark shortly after the presentation of the mid-term report for the minerals and metals sector by the Minister of Mines and Steel Development, Musa Mohammed Sada at the ongoing ministerial platform in Abuja. This is even as Sada said recent efforts have resulted in production of about 60.54 million tonnes of mineral products including 58.41 million tonnes of industrial minerals, 0.84 million tonnes of metallic mineral among others, which have translated in increased revenue generation and increased contribution to...
(The Sun 06/12/13)
The Federal Government says all forms of indemnity and compensation paid by airlines to families whose loved ones were involved in an air crash should be on individual casualty, and not on family basis. A statement by the Aviation Ministry on Tuesday said the clarification had become necessary, following complaints that some families, who lost two or three persons in last year’s Dana Air crash, were paid insurance indemnity for just one person, a negation of industry best practice. ”For the avoidance of any doubt, compensation for air crash victims is per passenger, not per family. “In situations where several family members are victims, as is the case with the Dana crash, compensation is to be paid according to the...
(This Day Live 06/12/13)
Leading opposition parties have taken a major step towards concretising their plans for a merger by applying to the Independent National Electoral Commission (INEC) for the registration of a new party, All Progressives Congress (APC). The parties -- Action Congress of Nigeria (ACN), Congress for Progressive Change (CPC), All Nigeria Peoples Party (ANPP), as well as factions of the All Progressives Grand Alliance (APGA) and Democratic Peoples Party (DPP) -- which have been embroiled in inter-party tussle for the formation of the interim leadership of APC, also said they had resolved to ensure that transparency and equity ruled the process. The disagreement was evident as the party filed the application for registration without constituting a pro tem executive as required...
(Voice of America 06/12/13)
Ghana has arrested more than 100 Chinese nationals accused of illegally mining gold in that country. Zambia seized a Chinese coal mine in February over safety concerns. And Gabon is planning to take back assets from three foreign oil companies - including one from China. These moves and others have some analysts pointing to a backlash against Chinese investment on the continent. While experts say the China-Africa honeymoon may be over, divorce is not likely. China became Africa's top trade partner in 2009. Bilateral trade hit nearly $200 billion in 2012. Some Africans believe they are getting the short end of the stick, however, as they export valuable natural resources to China without receiving much in return by way of...
(Ventures-Africa 06/11/13)
VENTURES AFRICA – PIC, South Africa’s sovereign wealth fund, has acquired 1.5 percent of Dangote Cement, Nigeria’s largest listed company, in a deal valued at $289.3 million. PIC bought the shareholding at 179 naira a share. PIC’s latest move is a sign that the JSE’s biggest investor is now committed to diversifying its geographic investment spread. It recently bought 19.58 percent of pan-African bank, Ecobank Transnational, in a transaction worth $250 million. This was its initial main transaction outside of South Africa. In the years past, the fund only preferred to invest in South Africa but ever since he was appointed CEO of PIC, the dynamic Elias Masilela, has opted to investing in other African companies. Analysts told Ventures Africa...
(Ventures-Africa 06/11/13)
VENTURES AFRICA – Siemens has handed over the Geregu II gas turbine power plant to the Nigerian Government, after successfully completing the project. The project, which was completed under the National Integrated Power Project (NIPP) platform, possesses 434 megawatts capacity. Siemens, which has sold over sold over 460 SGT5-2000E gas turbines worldwide, said it supplied three E-class gas turbines as well as the associated generators as part of the construction project. In a statement by the German-based firm, it also explained that the plant would play a vital role in the proposed upgrade of Nigeria’s power output, which is characterized by failing infrastructure. The statement also revealed the scope of delivery for Geregu II includes: three SGT5-2000E gas turbines, three...
(Nigerian Tribune 06/11/13)
Nigerian High Commissioner to The Gambia, Ambassador Esther John Audu, came into national limelight when she served as President of the National Council of Women Societies, after which she became a member of the House of Representatives before her current appointment. In this interview with AJAYI OLUWAPELUMI, she sheds light on the bane of effective business relations between Nigeria and The Gambia. Excerpts. How will you describe the relationship between Nigeria and The Gambia since your appointment as High Commissioner? First and foremost, Gambia is a small country, with a population of 1.7million people. The economy is growing and Nigeria has played a major role in ensuring that The Gambia is what it is today. Nigeria is directly involved in...
(Reuters (Eng) 06/11/13)
LAGOS (Reuters) - Finance Minister Ngozi Okonjo-Iweala held up a sponge cake representing GDP to an audience of amused officials on Monday, as she sought to rebuff critics who say Nigeria's strong economic growth has failed to lift millions out of poverty. Likening Nigeria to a household, she urged the country to focus on the government's plan to become one of the world's top 20 economies by 2020, which she said would be crucial to solving its other problems like high unemployment and poverty. It would mean doubling the current growth rate to 13 percent, she said. "Having this cake does not mean that every problem in your household is solved," she said, holding up a sponge with figurines of...
(This Day Live 06/11/13)
President Goodluck Jonathan Monday met with service chiefs and other members of the security council to consider a brewing diplomatic crisis threw up by the arrest of some Lebanese businessmen and their accomplices for alleged involvement in terrorism. THISDAY checks revealed that the meeting was called against the backdrop of moves by countries sympathetic to Hezbollah, for which the suspects were accused of working for, to seek their extradition from Nigeria to prevent them from going on trial in the country. The State Security Service (SSS) and the military had arrested in Kano, four Lebanese - Mustapha Fawaz, Abdalah Tahini, Tala Ahmed Rouda and Khosai Nouridine - for illegal stockpiling of sophisticated weapons in a house in Kano and their...
(This Day Live 06/11/13)
Public Investment Corporation of South Africa (PIC) Monday bought 255,607,605 shares or 1.5 per cent of Dangote Cement Plc for N45.75 billion. PIC is owned 100 per cent by South African government and it has funds valued at $115 billion under its management. Although no explanation was given by Dangote Cement regarding the acquisition, PIC is now holding 1.5 per cent of the 5.11 per cent of the company’s shares available for trading on the Nigerian Stock Exchange (NSE). DCP has a paid-up share capital of 17.04 billion. But only 5.11 per cent is made available to the investment public while Dangote Industries Limited holds 94.89 per cent. Market analysts said the transaction might be strategic considering the fact Dangote...
(This Day Live 06/11/13)
The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, disclosed Monday that a N16 billion special fund had been set aside to settle depositors of Microfinance Banks (MFBs) in the event of their failure and subsequent liquidation. Speaking in Abuja at the opening of a workshop for MFB operators, the NDIC boss said the fund, which was earmarked to among other things, boost customers' confidence in the system was also meant to augment about N1.6 billion premium commitments by MFBs. He however, decried the low- level of premium collection by the NDIC, saying that it posed a problem for the corporation. Umaru said: "There are some major players- if one or two of them fail, NDIC will...
(AFP (eng) 06/11/13)
Nigeria's Boko Haram Islamists have stormed a neighbourhood in the restive city of Maiduguri, killing at least 11 people with weapons hidden in a coffin, local residents said Monday. There were conflicting reports as to the number of people who lost their lives in the attack that began late Friday. Information has been slow to emerge in the region because the mobile phone network has been shut down by the military amid an offensive aimed at crushing the Islamists. Military spokesman Lieutenant Colonel Sagir Musa confirmed that gunmen launched attacks on Friday evening in the neighbourhoods of Hausari, Fizzan and Gwange. Hausari resident Moh'd Aji said 10 attackers came in a pick-up truck, with a coffin visible in the exposed...
(The Sun 06/11/13)
Barely 24 hours after the Independent National Electoral Commission, (INEC) raised the alarm over indiscriminate campaigns for 2015 by politicians, the commission yesterday said it was already making efforts to ensure that 2015 polls is much better than the 2011 polls, which it re-emphasized was a success. INEC Chairman, Professor Attaihiru Jega made the declaration at the commission’s headquarters in Abuja, when he played host to the team of senior management staff of Federal Radio Corporation of Nigeria, (FRCN) led by its acting Director-General, (DG), Dr. Samson Shaibu. He said INEC had drawn up a comprehensive programme for voters’ education and enlightenment, to mobilize Nigerians for electoral processes, with a view to deepening the country’s democracy. While expressing the willingness...
(The Sun 06/11/13)
No amount of money would make us impeach Rivers State Governor Chibuike Rotimi Amaechi, the House of Assembly insisted yesterday. The Assembly also reaffirmed its unalloyed support to the leadership of the governor, saying that Amaechi had made the state proud with the dividends of democracy. Two lawnakers made the declaration yesterday at the rally organised by Ikwerre Ethnic Nationality at the headquarters of Port Harcourt City Council in the state capital. One of the legislators, who spoke on the occasion, Azubike Wanjoku, advised those plotting to impeach the governor to use the money intended to bribe the lawmakers to construct the East-West Road. Wanjoku, representing Ikwerre constituency, who is one of the 27 pro-Amaechi lawmakers, stated that the governor’s...
(BBC News Africa 06/11/13)
Ghana's police have arrested at least 55 West Africans suspected of illegal gold mining, an immigration spokesman has told the BBC. The arrests suggest that the police's focus has shifted away from Chinese miners to African miners, reports the BBC's Akwasi Sarpong in Accra. More than 200 Chinese workers would be repatriated after their arrest last week, the spokesman said. Ghanaian law prevents foreigners from working in small-scale gold mines. Ghana is Africa's biggest gold producer after South Africa. The raids are popular with many poor Ghanaians who feel that foreigners are taking jobs from them, our reporter says. Immigration spokesman Francis Palmdeti told the BBC that of the 55 arrested, 51 were from Niger, three from Togo and one...
(This Day Live 06/11/13)
The Northern Elders’ Forum (NEF), Monday rejected the proposed constitutional amendment by the Senate Constitution Review Committee that would provide for a single term of six years for the president and state governors. In the same vein, the National Chairman of the United Peoples Party (UPP), Chief Chekwas Okorie, Monday also dismissed the proposal for six-year single term for president and governors as a legislative fraud which must be rejected by Nigerians. According to the Secretary of the NEF, Prof. Ango Abdullahi, “We in the north remain stoutly opposed to the proposal and will never support it because it is a double-edged sword that can make a tyrannical President to continuously oppress the defenceless citizenry without any remedy. “Abdullahi stated:...
(The Washington Times 06/11/13)
The United States must do more than lecture embattled Nigeria, a strong U.S. ally in West Africa under assault from al Qaeda-linked Islamists sweeping across the region. The terrorists have shown they can move quickly and seamlessly, attacking anywhere in the area, as shown by the attacks on the U.S. diplomatic mission in Benghazi, Libya, last year and assaults on the Western-owned oil-and-gas facility in Algeria earlier this year. Hectoring a U.S. ally, as Secretary of State John F. Kerry did with Nigerian President Goodluck Jonathan recently, only emboldens the militants.Oil-rich Nigeria is threatened by the terrorist group Boko Haram, which Muslim cleric Mohammed Yusuf founded in 2002 to establish Islamic, or Shariah, law in the northeastern Nigerian state of...

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