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The Federal Government has assigned portfolios to all the 47 career ambassadors cleared by the Senate, Daily Trust gathered. A document seen by our reporter listed the envoys and their portfolios as Abia: Obinna Chukwuemeka Agbugba (Togo), Adamawa: Salisu Umaru (Senegal), Paragalda Ilyasu Audu (Turkey), Akwa Ibom: Inyan Udo-Inyang (Gabon), Anambra: Okeke Vivian Nwunaku (Spain), Nonye Udo (Austria); Bauchi: Liman Munir (Congo), Benue: Ndem Jane Ada (Sweden), Demenongu A. Agev (Equatorial Guinea), Borno: Mohammed Hassan Hassan (Kenya), Toko Ali Gongulong (Sao Tome & Principe), Lawan Abba Gashagar (Mali), Cross River: Martin Nyong Cobham (Thailand), Odeka Janet Bisong (Zimbabwe), Delta: Janet Omoleegho Olisa (Jamaica), Edo: Itegboje S.Sunday (Permanent Mission in New York), Queen I. Worlu (Cuba). Others are: Ekiti: Olatunde Adesesan (Angola), Emmanuel Kayode Oguntause (Benin), Enugu: Lilian Ijeukwu Onoh (Namibia), FCT: Adamu Onoze Shuaibu (Rwanda), Gombe: Manaja Tula Isah (Israel), Habu Abubakar Gwani Ibrahim (Zambia), Imo: Ngozi Ukaeje (Portugal), Kenneth C. Nwachukwu (Cameroon), Jigawa: Bello Kazaure Huessini (North Korea), Kaduna: Enoch Pear Duchi (Ireland), Kano: Garba Baba (Poland), Rabiu Akawu (Algeria), Katsina: Usman Bakori Aliyu (China), Ibrahim Hamza (Iran), Kebbi: Umar Zainab Salisu (Botswana), Kogi: Momoh Sheidu Omeiza (Liberia), Kwara: Kadiri Ayinla Audu (Permanent Mission, Geneva) and Olufemi Abikoye (Ghana). The federal government also assigned Nigerian mission in Indonesia to Balogun Hakeem from Lagos, Nasarawa: Inusa Ahmed (Ethiopia), Niger: Ibrahim Isah (Australia), Ogun: Bankole Adegboyega Adeoye (Belgium), Sonaike Adekunbi Abibat (Philipines), Osun: Ibidapo-Obe Oluwasegun (Port of Spain T&T), Oyo: Ogundero Sakirat (Washington), River: Eric A. Bell-Gam (Argentina), Sokoto: Attahiru Halliru (Niger), Taraba: Rahmatu A. Dunama (Burkina Faso), Yobe: Musa Saban Mamman (South Sudan) and Zamfara: Kabiru Bala (Mozambique). Read more at http://www.dailytrust.com.ng/news/general/47-career-ambassadors-assigned-portfolios/177017.html#ALLcUm6xjxHsgoTl.99
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The Ekiti House of Assembly on Tuesday passed the 2017 N93.4bn Appropriation Bill presented to it two weeks ago by Gov. Ayo Fayose. The assembly passed the budget as presented by the governor. The Appropriation Bill is tagged: “Budget of Consolidation for Higher Heights.’’ In passing the 2017 Appropriation Bill, the House considered the report of its Finance and Appropriation Committee. NAN reports that the bill was presented to the House by the governor for legislative consideration on Tuesday, Dec.6,2016. It subsequently passed through necessary parliamentary procedures. During the Second Reading, members spoke on the policy thrusts as highlighted in the details of the budget estimates. It was committed into the Committee of the Whole House, scrutinised page-by-page by the members and later passed into law. The speaker, Mr kola Oluwawole, in his remarks, said the budget had sensitively taken care of all areas that the administration would look into in 2017. “I want to commend the Committee of Finance and Appropriation and other members for a job well done”, he said. The speaker adjourned sitting till Feb.20 (NAN) Read more at http://www.dailytrust.com.ng/news/general/ekiti-assembly-passes-n93bn-budget-adjourns-till-feb-20/176937.html#7f5o4bc7rpkJc4yj.99 |
President Muhammadu Buhari says about 150,000 refugees have returned to Nigeria from across the borders, saying "Our sleeves are rolled up to face the challenges head-on along with our strategic partners." Buhari disclosed this at the Aso Rock Presidential Villa in Abuja on Monday while receiving the United Nations High Commissioner for Refugees, Mr Phillipo Grandi. President Buhari stated that Nigeria appreciated the continued collaboration of the United Nations. He said Nigeria was guided by global best practice and standards in rehabilitating millions of internally displaced persons (IDPs) spawned by the Boko Haram insurgency. He said the nation was making efforts to domesticate the Kampala Convention, which legally binds governments to protect the rights and wellbeing of people forced to flee their homes by conflict. President Buhari commended the military for creating a safe passage which, he said, had made it easier to help the displaced persons. He said different mechanisms had been put in place to care for the displaced in the areas of nutrition, health, physical and spiritual rehabilitation, among others. Grandi, who had visited Cameroun, Niger, and Chad, as part of his tour of the Lake Chad Basin region, commended Nigeria's determination to resolve the current humanitarian crisis. Read more at http://www.dailytrust.com.ng/news/general/150-000-refugees-have-returned-to-nigeria-buhari/176742.html#h7pXw9CRhtsmw9sz.99
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Former president Olusegin Obasanjo’s son, Adebayo, 11 other senior military officers at the 3 Division of the Nigerian Army, were, Monday, decorated with their new ranks after the Army Council’s approval of 226 for the nationwide exercise.http://www.dailytrust.com.ng/news/general/obasanjo-s-son-11-others-promoted-in-jos/176713.html#cdhjRcG6rueZqwuC.99
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hmmm |
good one |
By Emman Ovuakporie and Johnbosco Agbakwuru ABUJA – THE House of Representatives Ad-hoc Committee on investigation of the activities of federally owned Development Finance Institutions, DFIs, has issued 11-day ultimatum to the Central Bank of Nigeria, CBN, and Bank of Industry, BoI, to submit their audited accounts since 1999 to date. Meanwhile, the Chukwuemeka Anohu-led Ad-hoc Committee will from tomorrow (Tuesday) commence the probe of the DFIs such as BOI, Bank of Agriculture, BOA, the Nigerian Export-Import Bank, NEXIM, and the Nigerian Export Promotion Council, NEPC. Others to appear before the committee at the investigative hearing are the Small and Medium Scale Enterprises Development Agency, SMEDAN, the National Economic Reconstruction Fund, NERFUND, and the Federal Mortgage Bank of Nigeria, FMBN, amongst others. The Committee also summoned all former ministers of finance, agriculture, industry, trade and investment to appear at the public hearing. A statement signed by the Committee’s Chairman, Chukwuemeka Anohu had directed the DFIs to submit 30 hard copies of written memoranda and a soft copy latest today (Monday). Read more at: http://www.vanguardngr.com/2016/12/reps-issue-11-day-ultimatum-cbn-boi-submit-audited-account-1999/ |
Former Governor of Anambra State, Mr. Peter Obi, has been spotted on Bourdillon Road, Ikoyi, Lagos, where the former Lagos State Governor and National Leader of the All Progressives Congress, APC, Asiwaju Bola Ahmed Tinubu resides. Obi, in a widely circulated photograph, was spotted with a friend walking along the Bourdillon Road, without any security detail attached to him, like other politicians would have. Mixed reactions have however, trailed the photos, as there are reports that Obi, former Vice President Atiku Abubakar and Tinubu were forming alliance to float a new Mega Political party ahead of the 2019 Presidential election. See photos below: http://www.vanguardngr.com/2016/12/photos-peter-obi-spotted-bourdillon-rd-without-security-details/
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The Chairman of the Peoples Democratic Party, (PDP), in Benue State, Sir John Ngbede, in this interview expresses opinion that the crisis rocking the ruling All Progressives Congress, (APC), may to its extinction in 2019.. http://www.dailytrust.com.ng/news/politics/apc-may-not-survive-up-to-2019-benue-pdp-chairman/176460.html#5hEfwJM7kr1mmT4u.99
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he deserve it! |
Chai |
Some prominent politicians have been moving from the opposition political parties, especially the Peoples Democratic Party (PDP), to the ruling All Progressives Congress (APC). The gale of defections has brought to the fore, the character of the Nigerian politician. What are the implications of such movement on the Nigeria political system? Our correspondent finds out. At the last count, no fewer than six notable politicians have joined the APC in less than three months. On September 22, a former governor of Plateau State, Senator Joshua Dariye, defected from the PDP to the APC. Dariye, representing Plateau Central Senatorial District, announced his defection in a letter read by the Senate President, Bukola Saraki. Dariye, a second timer at the senate, said the crisis rocking the PDP at the national level was his reason for defection. The Senate President, Bukola Saraki, described his defection as a welcome development. Less than three months later, Chief Yele Omogunwa, another PDP Senator who represents Ondo South Senatorial District of Ondo State, on Thursday, November 24, confirmed his defection to the APC. Sen. Omogunwa confirmed his defection in an interview with the News Agency of Nigeria (NAN) in Akure two days before the Ondo State governorship election. The announcement of Omogunwa’s defection by the Senate President on November 30 caused an uproar on the floor as senators engaged in a war of words. The PDP senators staged a walkout over his defection. The senator based his decision to defect on the division in the PDP. But the Minority Leader, Senator Godswill Akpabio, raised a point of order, asking Saraki to declare Omogunwa’s seat vacant because according to him, there is no division in the PDP. On November 16, a former governor of Abia State, Dr Orji Uzor Kalu, also announced his decision to defect to the governing APC from the Progressive Peoples Alliance (PPA). Kalu said at a brief event at the APC national secretariat in Abuja that he joined to rebrand the party in line with the decision of his mother and other family members. On Monday, a former lawmaker representing Kokona/Keffi/Karu Federal Constituency in Nasarawa State, Alhaji Ahmed Wadada, also dumped the PDP for the APC. Wadada, who served two terms on the platform of the PDP from 2003 to 2011, was received by the APC chairman of his Tudun Kofa ward, Tanko Sodangi, in Keffi town of Keffi local government area. Wadada said he decided to join the APC as a result of the disunity in his former party and the concern he had for his people. Penultimate Tuesday, a former Managing Director of the News Agency of Nigeria (NAN), Mr Ima Niboro, also joined the APC. Niboro, a former Senior Special Assistant on Media to former President Goodluck Jonathan, was ushered into the APC at his residence in Udu Local Government Area of Delta. Niboro, a former PDP member, said his joining the APC was meant to align Delta with the government at the national level and to galvanise development. On November 9, the Deputy Speaker of the Nasarawa State House of Assembly, Godiya Akwashiki, left the PDP for the APC. The Speaker, Ibrahim Balarabe Abdullahi, who read Akwashiki’s defection letter during plenary session in Lafia, congratulated Akwashiki (PDP-Nassarawa Eggon West) for taking the decision. Akwashiki identified the crisis rocking the PDP at the national level as the major reason for his defection to the APC.. Similarly, the Deputy Speaker of the Benue House of Assembly, James Okefe, defected to the APC on November 22 after many months of speculation. In the letter which was read by the Speaker, Terkimbi Ikyange, Okefe said he left the PDP because of the crisis rocking it at the center. Last weekend, Governor Ben Ayade of Cross River State met APC bigwigs at a meeting which started during the thanksgiving ceremony organised by the Minister of Niger Delta Affairs, Usani Uguru Usani, in Calabar. A former senate leader, Victor Ndoma-Egba, a former minister of defence and presidential aspirant, Rabiu Musa Kwankwaso, governors Rochas Okorocha of Imo State and Godwin Obaseki of Edo State, who graced the occasion, were said to have convinced Ayade to leave the PDP for the APC. Speculations have been rife over Ayade’s secret ambition to cross over to the APC, having hobnobbed with key national leaders of the party a few months after he was sworn in. But in a swift reaction, Ayade’s media aide dismissed the insinuation that the governor was planning to move from the PDP. Christian Ita, the chief press secretary to Ayade, said the governor was just playing the role of a good host to the array of political, military and business leaders that thronged Calabar to honour a prominent son of the state. Penultimate Wednesday, Governor Ayodele Fayose had, in Ikere Ekiti, indicated that he might use another political platform to pursue his succession battle in the 2018 governorship poll in the state. But following the reactions generated by his assertions, the governor dismissed the defection report as untrue, saying he won’t dump the PDP for the APC or any other party. Though some of the decampees cited the division in the PDP as the reason for their decision to defect to the APC, a former governor of Jigawa State, Alhaji Sule Lamido, attributed the recent massive defection from the PDP to the APC to the fear of possible arrests by agents of the federal government. Lamido, who spoke in his home in Bamaina, said anyone who wanted to enjoy the air of freedom under the present administration must be ready to pitch his tent with the ruling party. However, Dr Mutiullah Olasupo, a senior lecturer, Department of Political Science and International Relations, University of Abuja, in an exclusive interview with Daily Trust on Saturday, identified the quest for relevance and benefit from certain conceived interests as the major reasons for the defections. Dr Olasupo said the defections fragmented and weakened the opposition parties and promoted money-politics, which gives room for political nomadic movements and political parties without ideology to thrive and develop. He said, “It should be noted that since 1999, when the current democratic dispensation began, Nigeria has witnessed a plethora of defections by politicians. The defection rate is widely believed to be more than any other time in the nation’s political history. Party defection is not a strange phenomenon in Nigeria, it characterized previous republics, though at a minimal and reasonable level. “Today, reasons for this are not far-fetched as supposed loyal party activists do this with reckless abandon as if this is a new virtue for relevance in party politics.” Dr Olasupo added, “The question now is why do politician change party? It is simple. Basically, politicians change political parties to be better positioned to benefit from certain conceived interests. Unfortunately, these interests are more personalized and since most political parties in Nigeria today are formed without some clear ideological divide, every defecting politician or groups of politicians are able to fit into the new welcoming party. “Thus, it is all about interest as political parties in Nigeria are formed by amalgamations of power fisted and out of favour individuals who wish to contest for elective positions and win power at all costs. Therefore, the current wave of change of political parties or party defections is geared towards certain imagined or real outcome. “But party defection has insidious implications on the political development of Nigeria. One of the greatest fears of the current defection from other parties to the APC is that it is leading to a further fragmentation of opposition parties from where politicians have defected. It also creates chances for the emergence of new political parties that lack strength and focus on the political scene. “As a result, this situation of defection leads to mushrooming of political parties and reinforces the weakness of opposition parties. This does not augur well for the development of party politics because it promotes money-politics, which eventually give room for political nomadicism and political parties without ideology to thrive and develop.” Read more at http://www.dailytrust.com.ng/news/politics/top-politicians-in-hot-race-to-apc/176353.html#dllJUOjQZGhcHLyp.99
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Kaduna State Governor Nasir el-Rufai yesterday accused the administrations of former presidents, late Umar Yar’Adua and Goodluck Jonathan of “blowing” $40bn foreign reserve and $27bn excess crude account left by the administration of former President Olusegun Obasanjo. The governor was fielding questions from State House correspondents after a meeting of the National Economic Council (NEC) presided over by Vice President Yemi Osinbajo. He said: “When I left government as minister in 2007, we left $40bn in (foreign) reserves and $27bn in the Excess Crude Account. That was what we handed over to Yar’Adua. “Coming back as the governor of Kaduna State, the people that came after us have blown the money. They blew all we left behind, blew what they earned and borrowed, leaving President Buhari and his team to clear the mess. Nobody is even talking about that.” The governor also stated that Nigerians were not being charitable for accusing Buhari’s administration of having impoverished them. Read more at http://www.dailytrust.com.ng/news/general/yar-adua-jonathan-blew-67bn-el-rufai/176275.html#hrhUmx8tGA0QJ61M.99
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The Federal Government has said that it is not responsible for the pains Nigerians are currently passing through. The Minister of Budget and National Planning, Udoma Udoma, stated this on Thursday while fielding questions from State House correspondents after a meeting of the National Economic Council (NEC) chaired by Vice President Yemi Osinbajo. The minister said President Muhammadu Buhari's administration was a rescue team determined to take the country out of economic woes. According to him, the government is particularly determined to change Nigeria from being a consuming country to a producing one. Udoma said: "We did not and are not responsible for the current economic situation we find ourselves. We are actually a rescue team; a team working on rescuing Nigeria from the position we find ourselves in. "Under President Muhammadu Buhari, we are determined to take Nigeria out of the situation. The situation started long before we came. Read more at http://www.dailytrust.com.ng/news/general/we-re-not-responsible-for-your-woes-fg-tells-nigerians/176204.html#V7QAuBZU37xSohpR.99 |
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chai! senate sef! |
magu magu... |
wicked govt... |
sai baba |
The Senate will today screen the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu. It was gathered that Magu who has been in acting capacity since November last year will be screened on the floor of the Senate today. Four other members of the commission namely Moses Ndasule, Mamman Lawan, Imam Najib Galadanci and Adebayo Rafiu Adeleke nominated alongside Magu would be referred to the Senate Committee on Anti-Corruption and Financial Crimes. The screening of Magu has been pending since July. It was scheduled for last Thursday but was postponed to today. A statement by the Senate President Media Office confirmed that the screening would be conducted today. http://www.dailytrust.com.ng/news/general/senate-screens-magu-today/176036.html#IJw0BX2SOPoGiYwP.99
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Governor Rochas Okorocha of Imo State has explained the fight of Governor Nyesom Wike of Rivers State in the just concluded re-run elections.http://www.dailytrust.com.ng/news/politics/rivers-re-run-wike-would-have-gone-had-pdp-lost--okorocha/176138.html#Wj48ZduwsEDLyKRH.99
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A total of N565billion stolen funds have been recovered by the government and included in the 2017 budget. This is revealed in a revised Medium Term Expenditure Framework (MTEF) submitted to the National Assembly last week. President Muhammadu Buhari is expected to present a proposed budget of N7.28 trillion for 2017 at a joint session of the National Assembly today, an increase of about 19.95 per cent over 2016 budget of N6.07 trillion. The MTEF, however, showed that the amount included $320million equivalent to N97.6 billion Abacha loot being expected from the Swiss government. Minister of Budget and National Planning, Senator Udoma Udo Udoma said yesterday the money was almost ready. “It is virtually at hand... We believe we will get it,” he said during a meeting with the Senate Committees on Finance, Appropriation and National Planning on MTEF/Fiscal Strategy Paper (FSP). The recovered funds included N261billion domestic recoveries and another N205.5 billion tagged “other FGN recoveries.” Minister of Information and Culture, Alhaji Lai Mohammed in June revealed that the government had recovered cash totalling N78.3billion, $185million, 3.5million Pounds Sterling and 11, 250 Euros. The Federal government targeted collectible revenue of N10.4trillion from gross oil revenue of N5trillion, dividend payment (NLNG) N61billion, Solid minerals N2.5billion, gross non-oil revenue N5.06trillion, Non-federation account levies N53billion, education tax N188.7billion and National Information Technology Development Fund N24billion. Also, the Federal government is proposing to borrow N2.3trillion to finance deficit in the 2017 budget. While N1.2 trillion is expected to be sourced locally, N1.067trillion would be sourced from abroad. For debt service, the Federal government proposed N1.6 trillion for both domestic and foreign debts. In the document, N115billion was budgeted for the National Assembly for the 2017 fiscal year same as in 2016. On borrowing for 2017 budget, Udoma said the government would take N1.067trillion equivalent to $3.5billion from World Bank and Euro bond. Also speaking, the Director General of the Budget office, Mr. Ben Akabueze said the N1.2trillion domestic loan for the 2016 budget has been fully drawn. Similarly, the House of Representatives yesterday commenced consideration of the 2017-2019 MTEF/FSP ahead of President Muhammadu Buhari’s budget presentation today. The consideration was sequel to a motion by House Leader, Femi Gbajabiamila, who said the MTEF was submitted in line with Section 11 (2) of the Fiscal Responsibility Act, 2007. He said the Act also provides that MTEF should contain a macro-economic framework setting out the macro-economic projections for the next three financial years. After debate on the motion, with some lawmakers arguing that some of the projections were not feasible, the House referred the two documents to the committees on finance, appropriations, national planning and economic development, legislative budget and research and, aids, loans and debt management to scrutinize and make recommendations to the House. N/Assembly wears new look Meanwhile, our correspondents observed that the National Assembly premises wore a new look ahead of Buhari’s budget presentation. It was observed that some major parts of the building, especially the White House, where the two chambers of the federal legislature are located, were painted yesterday, while the grasses around the premises were trimmed. Daily Trust further gathered that all civil servants and many other support staff at the National Assembly were asked not to come to work today as the president presents the budget estimates. Read more at http://www.dailytrust.com.ng/news/general/fg-n565bn-recovered-loot-forms-part-of-2017-budget/175859.html#PK11BbiQH7VSVy9R.99
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Another senior Army officer has been killed by suspected Boko Haram terrorists. The officer, O. Umusu, a Lieutenant Colonel and Commanding Officer, 118 Task Force Battalion in Borno State, was killed alongside his security details, by an Improvised Explosive Device, IED, in an ambush, Monday evening. This came as the Defence Headquarters, Tuesday,warned Nigerians to to be wary of people entering their communities as menial workers, saying it was a new strategy employed by the dreaded Boko Haram terrorists to get at their targets. Military insiders said the officer and his men were returning from Maiduguri towards Baga. The incident happened between Sari and Gudumbali. Their remains were evacuated to 7 Division Medical Services and Hospital, sources said. The incident brings to four the number of lieutenant colonels the Army is losing in two months. Also the Defence Headquarters, Tuesday,warned Nigerians to to be wary of people entering their communities as menial workers, saying it was a new strategy employed by the dreaded Boko Haram terrorists to get at their targets. In a statement, late yesterday, by Brigadier General Rabe Abubakar,its Director of Information, the Defence Headquarters insisted that the terrorists, in their desperation to get at their targets, have resorted to disguising as menial workers. The statement read:”The Defence Headquarters wishes to alert members of the public of another antic being employed by the escaping Boko Haram terrorists that were smoked out of Sambisa forest by the combined efforts of the Nigerian Armed Forces. “Available information indicates that some fleeing Boko Haram terrorists are now disguising as menial workers to melt into communities and towns with a view to organising terrorists attack against our innocent citizens. The unfortunate recent incidents in Madagali and Maiduguri are instructive. “The Defence Headquarters therefore advises citizens to be on the alert and be wary of these tricks of the defeated terrorists who are hell-bent on remaining relevant inspite of their lost battle. “This sensitisation becomes necessary now to create security awareness to our citizens to be conscious of some strange faces that could take menial jobs in their communities or towns, especially now that festivities are around the corner. “ Read more at: http://www.vanguardngr.com/2016/12/another-army-colonel-killed-boko-haram-terrorists/
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By Emeka Anaeto, Babajide Komolafe, Ediri Ejor & Prince Okafor LAGOS—Nigeria’s hope of returning to economic recovery brightened, yesterday, as crude oil price hits an 18-month high of $58 per barrel. With the proposed 2017 budget based on crude oil price of $42.5 per barrel and 2.2 million barrels daily production, this development translates to additional N500.4 billion revenue inflow outside the budgetary estimates. The federal government is proposing a budget of N7.28 trillion for the year 2017. The aggregate revenue to fund the 2017 budget, according to the budget framework, is expected to increase over the 2016 estimate of N3.855 trillion by about eight per cent or about N313billion. Thirty-three per cent of the amount is expected from oil sources while the balance is derivable from non-oil sources in consonance with the government’s renewed focus on diversification of its revenue base. Though the 2017 budget came against speculation that 2.2 mbpd oil output was too ambitious given the Niger Delta crises which had forced down output to about 1.4mbd mid this year, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu already indicated that the various negotiations with the Niger Delta leaders have yielded stability leading to uptick in output to about 1.9mbpd in November with expectations of continued rise in production level to even surpass the budgeted benchmark. Oil prices, yesterday shot up by over 4.5 per cent to hit $57.89 per barrel, its highest level since July 2015. The renewed price surge came after Organization of Petroleum Exporting Countries, OPEC, and other producers over the weekend in Vienna reached first output cut deal since 2001. The cut was in order to rein in over-supply and prop up prices in the market. Meanwhile, latest survey conducted by S&P Global Platts, has shown that oil production from OPEC for November rose for the sixth straight month to a record of 33.86 million barrels per day, mb/d, while further rises in December are expected as members and other parties to the production cut agreement try to maximize lead time ahead January 1, 2017 when the output cut agreement goes into effect. The survey also indicated that Nigeria, which is exempted from the OPEC cuts, had remained at 1.68 mb/d in November, contrary to the figure given by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who said outpu On current price development, Brent sweet crude futures, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between Sunday and Monday, its highest level in 18 months. U.S. West Texas Intermediate (WTI) crude futures also hit a July 2015 high of $54.51 a barrel. With the OPEC output deal finally signed after a year of negotiations, the market’s focus will now switch to compliance with the agreement. ANZ Bank said that Saudi Aramco, Saudi Arabia’s state-controlled oil company, had informed customers that their allocations would be reduced in January 2017, in line with the recent OPEC production cut agreement. OPEC has said it will slash output by 1.2 mb/d from January. 1, with top exporter Saudi Arabia cutting around 486,000 bpd in a bid to end glut. Glut has dogged oil markets for over two years and pushed the economies of many oil exporting countries, especially Nigeria and Venezuela, into crisis. Read more at: http://www.vanguardngr.com/2016/12/budget-2017-gets-boost-as-oil-price-hits-58/
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The founder of Mavrodi Mondial Movement, popularly known as MMM, Sergey Mavrodi, has warned that millions of Nigerians will suffer, because “the scheme is their only means of livelihood”. In a letter written to the Nigerian government to justify the importance of the popular Ponzi scheme, seen by the News Agency of Nigeria (NAN), Mavrodi warned the federal government should not allow the Ponzi scheme to collapse. NAN said the letter was displayed on the page of all participants of the scheme. He stated that the money being made from the scheme was being redistributed among Nigerians as a way of “restoring social justice”. The letter reads in part: “So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that you would be so kind to answer them. “What are you trying to get? Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves? What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy? “You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones? They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website. “You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either. The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What’s wrong with that? “You have repeatedly stated that “it should be investigated!.. researched!..” It means you know nothing about this System yet; you even haven’t understood how it works. “And finally. If you know what is right for people, why is the life so bad in the country?” He further noted that the MMM “has been working in Nigeria for a year, and according to your estimates, the total number of members now is about 3 million people”. The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have previously warned Nigerians against participating in the scheme while the House of Representatives also ordered an investigation into the operation of the scheme, in October. Read more at http://www.dailytrust.com.ng/news/general/nigerians-will-lose-millions-if-mmm-collapses-founder/175704.html#kckXkWjIOb4DlZWD.99
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Former Vice President Atiku Abubakar has observed that Nigeria may continue to search for right solution to fix the economy if the political structure remains faulty. The former spoke Monday in Abuja during the formal public presentation of a book titled “Nigerian Federalism: Continuing Quest for Stability and Nation-Building” edited by Okechukwu Ibeanu and Mohammad J. Kuna under the supervision of African Policy Research Institute (APRI). “My view is that when you get the political structure wrong, you are not likely to get the economy right,” Atiku, who is the chief presenter, said while presenting a speech entitled “Strength and Unity in Renewal: Towards a Rebirth of Nigerian Federalism”. He reiterated his support for those calling for the restructuring of what he called the current “unitary federalism”. “But after 50 years of ‘unitary federalism’, we are now in a position to clearly see that it has not worked well. The federating units in the First Republic had their disagreements but none claimed to lack autonomy of action, and none waited for federal fiscal allocations before it could implement its programs and pay salaries. “The current structure may be working for some elites but it has clearly not worked well for any section of this country and the country as a whole. “We should take deliberate steps to change this structure to serve us better. And we should not dither for too long that we let fear and expediency stampede us into another disastrous policy shift that may not serve us well either,” he added. He said each nation has to work out the best federal system suited for it as there is no ideal federal system or true federalism since federalisms are works in progress. Turaki Adamawa described as “odd and unhelpful” the argument of those who said that Nigeria cannot renegotiate its union and continued to equate every demand for restructuring with attempts to break up the country. “As a democrat and businessman, I do not fear negotiations. That is what reasonable human beings do. This is even more important if a stubborn resistance against negotiations can lead to unsavoury outcomes,” also said Atiku. He stressed that agitations for more states across the country, the clamour for more federal take-over of state institutions, and the clamour for local government autonomy from state governments are inconsistent with establishing a viable and well-functioning federal system. “We already have too many weak and unviable states. What we need are stronger federating units (be they existing sates or zones) with a greater share of resources and responsibilities,” he also said. The book reviewer, Dr Tunji Olaopa, advised each federating unit in Nigeria to create ways to deliver jobs to the jobless and save Nigerians from the current economic hardship, saying the call for Sovereign National Conference (SNC) is stale, while the so-called true federalism has become mere rhetoric. Dr Olaopa described the book as an incredible deep work of scholarship on Nigeria’s federalism. Read more at http://www.dailytrust.com.ng/news/politics/why-nigeria-s-economy-still-suffers-atiku/175675.html#glFMoRjWMxZu2Oh7.99
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*I needed a male child—Woman *I needed to collect my balance—Seller By Anayo Okoli UMUAHIA—POLICEMEN in Abia State have rescued a four-year-old boy, Obinna Ozuoba, from child traffickers. They arrested two suspects, one Rowland Egbe, 30, and a 50-year-old woman, Mrs. Chioma Ohajinmmadu, suspected to be the boy’s would-be buyer. The boy, who was lured with biscuits, has been reunited with his parents, Mr. and Mrs. Uzoma Ozuoba. According to Abia State Police Commissioner, Mr. Leye Oyebade, who paraded the suspects at the Police Officers Mess, weekend, Rowland Egbe was arrested at Obehie in Ukwa West Council, while taking the abducted boy to the would-be buyer. Oyebade said on interrogation, the suspect admitted that he abducted the boy. He then led the police to 16, Uchelekwa Street by Ohanku Road, Aba, where Chioma was arrested. The police commissioner, who described child trafficking as a “crime against humanity,” vowed that his men would fight the cartel until they were conquered. He urged persons interested in adopting children to follow legal process. Confession According to Egbe, he had earlier sold a female child to Chioma through a middle-man, and he was paid N50,000 out of the agreed price of N150,000. However, Chioma wanted a male child, hence his attempt to take Obinna to the middle-man and collect the balance of the agreed price. He said that he knew the boy’s parents and the boy knew him, which was why he easily followed Egbe. According to the female suspect, Chioma, she approached Egbe through the middle-man, now on the run. She said she has only female children and was desirous of having a male child. Read more at: http://www.vanguardngr.com/2016/12/2-arrested-attempt-sell-boy-n100000/ |
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