₦airaland Forum

The Standard and Poors, an international rating agency, has said that Nigerian economy remains strong with a stable macro-economic outlook

The Minister of Finance, Dr Ngozi Okonjo-Iweala, disclosed this at a joint press briefing with the Central Bank Governor, Malam Sanusi Lamido Sanusi.

The briefing was held at the Annual Meeting of the World Bank and the International Monetary Fund in Washington DC.

Okonjo-Iweala, the Coordinating Minister for the Economy, said that the rating had also confirmed the Fitch rating in 2012, which put Nigerian economy in the positive light.

“We have the outcome of the 2013 rating which is a very positive one; the rating confirms the ongoing rating stance which is BB minus with a stable outlook.

“So, they have confirmed that rating we had last year stands, which means that many positive things are happening in this economy.

“They have also acknowledged the challenges we have of course and they have look at those, but the summary is that in spite of these challenges, they think that the Nigerian economy is strong and the macro-economic indicators strong.

“The monetary policy and fiscal stance are strong enough for us to maintain a very good rating we had before,’’ she said.

On the fiscal side, she said that the rating agency said Nigeria’s GDP growth remains strong in 2013 through 2016 buoyed by non-oil sector growth.

She said the rating agency noted that Nigeria’s debt stock remained relatively low while foreign reserves remained strong.

“The agency also views the economy positively in the light of the redeemed N1.7 trillion Non-Performing Loans purchased by the Asset Management Company of Nigeria (AMCON), which will be finally written off its books.”

Standard and Poor’s, equally views non-oil sector development, especially growth in agriculture, retail, telecoms and power as positive.

Commenting, Sanusi said the agency’s assessment of the Nigerian economy aligns with the difficult global economic environment, which had seen countries like the United States being downgraded.

Sanusi said the external factors were almost beyond policy control, but that the current stable rating would be upgraded if the current fiscal and monetary policies were maintained and institutions further strengthened.

Sanusi said that for Nigeria to have retained its rating of BB, at a time countries such as the United States had its rating downgraded, showed that the Nigerian economy was being managed very well.

Efforts by some traditional rulers in Osun State to appeal to Osun Baptist Conference about its stand against merger of some of the schools established by Baptist missionaries under the new public schools re-classification policy of the state government, on Thursday, ended in a deadlock.
Sources informed Saturday Tribune that the traditional rulers met the chairman of Osun Baptist Conference, Reverend (Dr) Paul Kolawole and some leaders of the denomination in the secretariat of the conference in Osogbo to convince the missionaries to cooperate with the state government on the issue of schools merger.
However, the peace parley was deadlocked due to the insistence of Osun Baptist conference that it would not allow any move that will alter the status and identification of its school.
Following the resumption for the 2013/2014 academic session, members of Baptist had staged a protest at the entrance of Osogbo Baptist Girls School over the decision of the state government to merge Fakunle Comprehensive High School, Osogbo with the school.
Besides, Baptist members also opposed attempt to merge a Muslim school in Iwo with Baptist High School, Iwo, locking students and teachers out of the premises of the institution.
At the meeting on Thursday, which was said to have been initiated by the Olokuku of Okuku, Oba Abioye Oyeronke; the Oloyan of Oyan, Oba Kilani Adekeye; the Akinrun of Ikirun, Oba Rauf Adedeji and the Onirun of Oke-Irun, Oba Isaac Ilori, the monarchs were said to have implored the Baptist to allow state government have its way on the issue of schools merger.
While defending the position of Osun Baptist conference on the matter, Reverend Kolawole was said to have told the monarchs that the denomination had lost nearly all its schools to government and was not ready to give up its girls school in Osogbo.

Another source hinted that the clergy man, even commended all developmental moves of state government, but contended that the Baptist would not allow Osogbo Baptist Girls’ School merged with a mixed school, or any of its remaining schools’ merged with Muslim schools.

According to the source at the meeting,who pleaded anonymity, “The monarch had to wait for the conference chairman, who was in Ede,when they arrived the secretariat. At the meeting, they asked why Baptist are working against the state governor, but the chairman of the conference explained that Baptist are not in anyway working against the governor. He even commended the governor for his efforts to put in proper shape social infrastructures in the state.
“But he said the Baptist denomination has lost many of the schools established by its missionaries to state government and was not ready to allow any move that can wipe out its heritage.
“The chairman also informed the monarchs that the move by government, if allowed, will leave the conference with no educational heritage, which will be unacceptable to members,” he concluded.
Rev. Kolawole was said to have informed the monarchs not to see the opposition to school merger as Baptist’s affairs alone, adding that the state leadership of Christian Association of Nigeria (CAN) were also having reservations over the issue of new education policy as it affects all Christians in the state.

www.tribune.com.ng/news2013

THE Bamanga Tukur-led Peoples’ Democratic Party (PDP) is set to declare vacant seats of members of the National Assembly with sympathy for the Abubakar Baraje-led faction of the party.
It was gathered that the Bamanga Tukur-led PDP is repackaging the plan to declare the seats vacant following Thursday’s decision by the Independent National Electoral Commission (INEC) to recognise the Tukur leadership and the dismissal of a case instituted in Lagos by the Baraje faction.
“The G7 governors lost round one and round two in the course of the week. Now the fate of the G7 is not certain because a number of measures are on hand to deal with the situation. The group has challenged the authority of the PDP. The PDP led by Tukur may declare the seats of all new PDP and those who openly or quietly associate with them in the National Assembly vacant,” a source close to the party said.
It was also gathered that some shockers await members of the National Working Committee of the new PDP as members of the mainstream PDP are describing their action as a civilian coup.
“What they did amounts to a civilian coup. They wanted to take over the leadership of the party by force. This sort of attitude is not in line with the disciplined ethics of the Tukur-led PDP and it is very clear that the Board of Trustees and the National Working Committee (NWC) will not tolerate any such thing,” another source said.
Investigations within the mainstream PDP also confirmed that the party had so far followed the disposition of President Goodluck Jonathan, who has insisted that the rule of law must be followed in all instances.
“His government has, so far, followed the rule of law. That is why there is no hard stance or drastic action against the agitators even when they worked against the party. Now, he has told the party to handle the matter in accordance with the rule of law,” sources close to the government said.
It was also gathered that the government has decided to place all security agencies on red alert to ensure that all parties obey the ruling of the courts as delivered by the Lagos court on Thursday.
“The security agencies are on alert to stop anybody who violates the court order and anyone who attempts to disrespect the position of the Independent National Electoral Commission (INEC),” a source said in Abuja on Friday.
Meanwhile, the PDP has said it is extending the olive branch to the aggrieved members of the party in the interest of peace.
In a statement issued in Abuja, the National Publicity Secretary of the party, Mr Olisa Metuh, urged the members to return to the party’s fold.
The members, who include the governors of Niger, Kano, Rivers, Sokoto, Kwara, Adamawa and Jigawa states, appointed fresh officers to run the affairs of the party and later filed a case against the party’s leadership.
The aggrieved members also wrote to INEC urging it not to recognise the Bamanga Tukur-led PDP, but the commission turned down the request.
The statement called on the aggrieved members “to come back home now” since INEC has recognised the Alhaji Bamanga Tukur-led executive as the authentic national executive of the party.

http://www.tribune.com.ng/news2013/index.php

Olorogun Emmanuel Aguariavwodo of the Peoples Democratic Party by landslide. Urhobo wadoo

Eledan: Normally ...it's won't make much economic sense to use cement on roads that don't experience very heavy traffic in term of usage ...such as streets and intra-city roads.

But since Nigeria have completely jettisoned rail-transportation for our cargo haulage transportation...investing in such cement-based roads is not out of place.

Presently....the whole of the access roads inside Tin-Can Apapa is cement based because of the heavy exposure to articulated trucks laden with containers and all sort of heavy cargoes....below is a road made of cement inside Tin-Can.


Despite the heavy abuse suffered by that road in the last 8 yrs....not a crack...talk less of a small hole is on it.

This is an eye opener for me. 8 years no cracks, why are people using asphalt then. Makes no sense

When will the father of all strike start.

FRESH AIR TILL 2019

By Soni Daniel, Regional Editor, North, Henry Umoru & Onozure Dania
Abuja — The fledging leadership of the Abubakar Baraje-led faction of the Peoples Democratic Party suffered major setbacks, yesterday, with the rejection of its list of officials as the authentic leaders of the party by Independent National Electoral Commission as well as defeat at a Lagos High Court in its suit against the Bamanga Tukur-led faction of the party.
INEC said it would not withdraw the recognition it accorded the Bamanga Tukur group since it was privy to the processes that led to his emergence as the National Chairman of the party as well as other officials of his group.
INEC’s clarification
INEC’s clarification followed a letter written by the National Secretary of the New Peoples Democratic Party, nPDP, Olagunsoye Oyinlola, asking the commission to recognise Baraje and members of his National Working Committee as the valid leaders of the party.
INEC in its letter to the Baraje faction, which was addressed to the National Secretary of the faction, Mr. Olagunsoye Oyinlola, said that it stood by the elections that brought both Tukur and his officials into office and would therefore not recognise Baraje and his officials.

*PDP National Chairman, Dr Bamanga Tukur
The letter with reference No. INEC/LEG/PDP/19/111/245 and dated October 2, 2013, was captioned: Notification of Changes in the leadership of the PDP and request for formal recognition and signed by the Acting Secretary of INEC, Mr. U. F. Usman.
INEC in its reply, which was received by the Baraje faction on October 3, 2013, said, “The commission acknowledges the receipt of your letters dated 1st and 23rd September respectively wherein you requested the commission’s recognition of the Baraje-led faction and newly-elected NWC.
“You will recall that the commission monitored the National Convention and Special National Convention of the PDP held on the 24th of March 2012 and 31st of August 2013 at the Eagle Square, Abuja, after notices to the commission.
“A NWC was elected at the two conventions with Alhaji Bamanga Tukur as the National Chairman. The commission will not withdraw recognition from the leadership of the PDP elected at the conventions duly monitored by the commission.
“Be guided accordingly,” the commission said.
Vanguard learnt that there was jubilation in the Presidency last night following the leakage of the INEC’s letter to its strategists.
At a Lagos High Court, the suit filed by the Alhaji Kawu Baraje’s faction of the Peoples Democratic Party, PDP, against the National Chairman, Alhaji Bamanga Tukur and three others was struck out for want of jurisdiction.
The suit
The suit was filed by Baraje, Dr. Sam Jaja and Prince Olagunsoye Oyinlola on September 1, 2013.
The Baraje’s faction had dragged Tukur and his co-defendants to court praying for an interlocutory injunction to stop them from parading themselves as PDP National Executive Committee members.
Joined in the suit as defendants were Uche Secondus, Deputy National Chairman; Dr Kema Chikwe, Women Leader and Olisa Metuh, National Publicity Secretary.
The counsel to the defendants, Mr. Joe Kyari-Gadzama, SAN, and Mr Emeka Etiaba, had in their earlier preliminary notice of objection, asked the court to strike out the suit for want of jurisdiction.
The counsel had argued during the last sitting that the writs of summons did not comply with the mandatory requirements of Section 97 of the Sheriff and Civil Process Act because they were not endorsed.
The plaintiffs’ counsel, Robert Emukpaeruo, had argued that the court had jurisdiction to hear the suit contrary to the objections raised by the defendants.
In her short ruling, Justice Oludotun Adefope-Okojie, held that the Lagos State High Court had no power to assume jurisdiction over a matter which originated outside its jurisdiction.
She said the applicants had averred in their affidavit that the course of action, which was the special convention of the PDP, arose in Abuja and that the PDP had its registered office in Abuja while none of the defendants are resident in Lagos State.
The judge then held that,”with the defendants not resident in Lagos and the subject matter originating in Abuja, the High Court of Lagos State has no power to assume jurisdiction over this suit. I accordingly make an order striking out the suit,” Adefope Okojie said.
No cause for alarm — G7 Govs, Baraje
In its reaction yesterday, the Abubakar Kawu Baraje led new Peoples Democratic Party, PDP, said that there was no cause for alarm over the ruling by a Lagos High Court which threw out the suit instituted against the Alhaji Bamanga Tukur led National Working Committee, NWC.
In a statement by its National Publicity Secretary, Eze Chukwuemeka Eze, the group said, “We wish to assure our teeming members and Nigerians in general that there is no cause to worry. This is because the ruling has nothing to do with the merit of the case but the place of filing. As advised by His Lordship, we shall hasten to re-file the suit, this time in Abuja, as we are convinced about the merit of our case.
“Finally, we urge all our supporters and members not to despair or exercise any atom of fear and should continue to support the leadership of our great party under the able leadership of Alhaji Abubakar Baraje as we are getting closer to freeing our party from the enclave of undemocratic elements currently holding us to ransom and doing everything within their powers to ruin all that our founding fathers struggled to build.
“With today’s (yesterday) court ruling, we are now very determined to restore PDP to the path of honour particularly now that we have lost our great first National Chairman, Dr. Solomon Lar to the cold hands of death. Let us reiterate that nothing and we repeat nothing will stop us from implementing the visions of both Dr. Solomon Lar and all the founding fathers of our great party to the letter and keeping all undemocratic elements at bar from leadership of our great party.”
www.vanguardngr.com/2013/10/pdp-crisis-inec-rejects-barajes-faction

0lumide: What better way to blame northerners for terrorism than arm a toothless Boko Haram to start blowing up everywhere? Same Boko Haram that was fighting with sticks and cutlasses all of a sudden became the most armed terrorist group in West Africa?

JONATHAN!!!!! YOUR DAYS ARE NUMBERED BOTH ALIVE AND IN ASO ROCK! NIGERIA WILL HANG YOU LIVE ON CNN LIKE SADDAM'S HANGING WAS AIRED!!! WE WILL AIR YOU DESTRUCTION TOO! BLOODY TRAITOR! POWER HUNGRY GREEDY FOOLS!!

After we hang your phada and family, for producing a compound ediot like you, then you can go hang Jonah from your grave.