₦airaland Forum

Real estate remains a booming opportunity for Africa-focused investors for good reasons. The growth of Africa’s cities creates a demand for increased volumes of high-quality commercial and residential real estate.

The rise of the urban middle class drives retail property development, particularly as modern shopping malls spread across the continent.

A growing number of multinational companies are searching for office space in the newly emerging cities. The rise of regional tech hubs and an expanding oil and gas sector creates job opportunity with no place to house the employees.

Africa’s population boom is also a burdening factor on Africa’s cities. A need for mass market affordable housing, high-end properties and all in-between stems from the diversity in the multiplying populations, including middle to high-income locals and young entrepreneurial.

As an investor, these five countries offer the greatest investment opportunity in real estate (provided you find the right developer as a partner):

Angola

Angola is Africa’s fifth largest economy with Luanda and Huambo as its major cities. Despite the recent construction of new properties across the both cities, primarily Luanda, the country suffers from a lack of good quality office and residential space. Surveys reveals that the majority of the near 300,000 square meters of office space brought to the market during 2014 – 2015 was already pre-leased or sold before officially opening. Although oil prices have fallen, the oil sector remains the primary occupier of local real estate with no signs of letting up. Prices for office space, accordingly, are the highest in Africa at $150/m2 per month in Luanda (the 2nd highest in Africa is comparatively $65/ m2 less).

A growing industrial property market – largely associated with the oil sector – is fully occupied, particularly in the Luanda port area. Some space is available in Viana to the east of the city but with strict criteria for potential tenants (i.e., many potential tenants cannot get access to space). Officials are consequentially looking to boost warehouse space, especially as port activity increases in the near future.

The retail market, although in its infancy, also provides a high return on investment with prices at $120/m2 per month and a rapidly expanding middle class in Luanda.

The residential market may be the least attractive in the country. “In the country” is the key word. Downward pressure on residential prices from falling oil prices still means that you pay more than 3x the price for a house compared to the 2nd most expensive market in Africa.

Nigeria

[b]Nigeria is Africa’s largest economy with Lagos and Abuja as its major cities. You get mix reviews from developers in Lagos and Abuja on the effects of recent construction. Capital has been poured extensively into both cities. Yet the prices in both markets are consistently at two of the most expensive. Lagos office space rents for $85/m2 per month while the Abuja office space, despite being in a market nearly 1/4 the size of Lagos, still rents for US$72/m2 per month.

As Africa’s sixth fastest growing economy (according to IMF projections 2015-2019), Nigeria is likely the most attractive market for retail property. Private equity funds have been active in this space in Nigeria for several years but prices remain high. It is home to the 3rd and 4th most expensive market for retail space at $80/m2 and $72/m2 per month in Lagos and Abuja respectively. New construction was delayed a little prior to the election but has resumed to normalcy with prices not projected to significantly drop until late 2016, if not later, as population growth in Lagos remains one of fastest in Africa. Housing prices accordingly still sit at the top of the range, only ‘outpaced’ by the aforementioned Angola. An executive house with 4 bedrooms goes for $8,000 and $8,500 per month in Lagos and Abuja…again, in Angola, the same property costs about $25,000.
[/b]


Egypt

Egypt is Africa’s third largest economy with Cairo, Alexandria and Giza as its major cities. Egypt is not Africa’s fastest growing economy – not even breaking the top 20 in Africa for the next five years. But its retail market is booming and looks to stay so in the near future. The drop in the retail sector during the Arab Spring hurt the growing sector back in 2013 through 2014.

The return to growth in 2015 begins with regaining lost production to match pre-Arab Spring numbers and then expanding at a rate that could surpass pre-Arab Spring projections. Cairo retail space accordingly is renting for $100/m2 per month with some insiders estimating that the price could rise in the short term as consumer spending grows and retail development slowly catches up to match the demand.

Office space rents for $35/m2 per month in Cairo, making it one of top 15 expensive cities. But the presence of a significant amount of office space and rather slowly re-emerging economy (especially if you exclude the retail sector) limits the upside for this subsector. The industrial and residential market are similarly in the same situation with pretty moderate prices compared to other major African cities.

Mozambique

Offshore natural gas and a growing middle class underscores the changing real estate landscape in Mozambique and the country’s global reputation. It is projected as the 2nd fastest growing economy in Africa over the next five years, only trailing Ethiopia. Maputo is its major city (and capital). Although rather small for a major African city (with less than 2 million people), real estate prices show little sign of dropping.

Office space rents for nearly $40/m2 per month. Demand rapidly increases as banks, telecoms, and diplomatic/aid agencies consume the limited amount of good quality properties. The arrival of oil and gas executives has effectively led to the conversion of high luxury houses into office space until property developers can satiate the sector’s appetite.

The Mozambican government’s plans to invest heavily in the country’s industry and manufacturing market is pushing up industrial real estate as companies rush in. Prices at the ports, particularly for warehouses, is one of Africa’s most expensive. But most estimates and talk coming from government officials suggest this subsector may not be anywhere near as attractive as the office space subsector as the government may fit a good amount of the bill which should create downward pressure on prices.

Retail, although in a similar infancy stage, has a greater upside as consumer spending skyrockets. Retail space rents for $40/m2 per month in Maputo, which makes it one of the ten most expensive African cities for such space. Beyond that, it is also a city that will rapidly see rising incomes post-gas production and export in the near term.



South Africa/Kenya

Both countries are still ‘top opportunities.’ Retail space is attractive in both countries, specifically in Johannesburg (SA), Cape Town (SA), and Nairobi (Kenya). Retail space is the 5th most expensive at US$60/m2 per month in both Johannesburg and Cape Town and 8th expensive at US$48/m2 per month in Nairobi. Although attractive on the surface, insiders suggest that recent strikes in the South African market and the terrorism in Kenya has slowed the demand from potential retail tenants as the local economies flush out the internal issues. Office space prices moderated in the past 12 months in Kenya as business has been hesitant to expand until the government addresses its suddenly re-emerging terrorism concern. All that being said, we are discussing Africa’s 2nd largest and 8th largest economies in South Africa and Kenya respectively with Kenya as the projected tenth fastest growing economy in Africa through 2019. What seems risky to today will pay dividends in the long run…at least the numbers suggest so.



http://venturesafrica.com/five-african-countries-that-offer-the-greatest-investment-opportunities-in-real-estate/

The National Bureau of Statistics on Sunday released the country’s labour statistics report for the first quarter of this year, stating that the unemployment rate had increased from 6.4 per cent at the end of the fourth quarter of 2014 to 7.5 per cent.

In the report made available to our correspondent, the NBS stated that the increase in the number of the unemployed by 861,110 persons or 18.43 per cent between the fourth quarter of 2014 and the first quarter of this year was responsible for the increase in the unemployment rate.

It stated that in the first three months of this year, the labour force population increased to 73.4 million from 72.9 million in the fourth quarter of 2014, representing 0.69 per cent increase.

This, it noted, implied that 504,596 economically active persons within the age bracket of 15 to 64 entered the labour force.

The report stated, “Within the same period, the total number in full employment (did something for at least 40 hours) increased by 0.88 per cent. The number of underemployed in the labour force during the review quarter, however, declined by 6.46 per cent, resulting in a reduction in the underemployment rate to 16.6 per cent (12.2 million) from 17.9 per cent (13.1 million) in Q4 2014

“The number of unemployed in the labour force, on the other hand, increased by 861,110 persons or 18.43 per cent between Q4 2014 and Q1 2015 resulting in an increase in the unemployment rate to 7.5 per cent in Q1 2015 from 6.4 per cent in Q4 2015.

“Accordingly, there were a total of 17.7 million people between ages 15 and 65 either unemployed or underemployed in the labour force in Q1 2015.”

The report added that the fact that the number of people that became unemployed (861,110) in the first quarter of 2015 exceeded the number that entered the labour force within the same period (504,596) was an indication that some persons previously working in full employment lost their jobs, while others previously underemployed and doing temporary, or part-time work ended whatever they were doing and accordingly now did not have anything to do for at least 20 hours a week during the reference period.

The NBS had last month revised the country’s labour statistics, stating that as a result, the number of those unemployed had dropped from 16.07 million or 23.9 per cent in 2011 to 4.67 million or 6.4 per cent at the end of the fourth quarter of 2014.

The bureau had, following the recommendation of a committee chaired by Prof. Sarah Anyanwu of the University of Abuja, adopted 20 hours per week for the computation of the unemployment rate as opposed to the 40 hours per week previously used.

The Statistician-General for the Federation, Dr. Yemi Kale, had during the review said the old methodology presented a major challenge to the bureau as those who worked for less than 40 hours were classified as unemployed.


http://www.punchng.com/business/business-economy/unemployment-rate-rose-to-7-5-in-q1-nbs/

National Standard Finance is delighted to announce its first major investment in Nigeria as part of its recently announced Economic Stimulus plan for Nigeria.

Omega-Butler Refineries from the UK and National Standard Finance, LLC have teamed up to are build and finance a “turn-key” construction of modular mini oil refinery starting with capacity of 1,000,000 metric tons per year (20,000 barrels per day) in Port Harcourt, Rivers State.

This will be the first module; further modules will be built once the first module becomes profitable, making 100,000 bpd in total.

Employing the most progressive technologies of deep crude oil processing, the Refinery is designed for production of environmentally friendly Motor Fuels (Petrol and Diesel, matching strict requirements of Euro-3&4 standards) and high quality Bitumen suitable for roads construction.

With the Yield of light oil products around 90%, this Mini Refinery outperforms the industry standards. It will deliver the initial requirement of the local community and reduce the current reliance on imported gasoline and motor fuel.

The rest will be sold in advance to existing customers of Omega-Refineries all over the world.


To reduce capital expenditures against costly traditional technologies, innovative Mini Refinery is engineered with three integrated Process Units:
• DOR Unit (Deep Oil Refining) with patented Visbreaking-Termakat® Technology to achieve high Yield of light products;
• CDT Unit (Catalytic Distillate Treatment) to produce high-octane Petrol and Diesel with low sulfur content;
• DGF Unit (Desulfurization and Gas Fractioning) for gas treatment, sulfur production and environmental protection.

To expedite start-up of the Mini Refinery into operation, the Project Schedule is divided in two stages, which allows launching Deep Oil Refining (DOR) Unit and Desulfurization and Gas Fractioning (DGF) Unit, combined with supporting infrastructure of the Refinery, in extremely short time – 12 months. The second stage, including Catalytic Distillate Treatment (CDT Unit), will be finished overall in 24 months.

This approach will allow efficient allocation of investments and revenue stream from the first stage operation will facilitate to finance overall construction of the Refinery.

Rivers State Government will provide the 40 hectares of land and Omega-Butler, a UK based refinery and LNG company as 80% owners of the project are providing the project construction funding from National Standard Finance. Omega-Refineries will Build, Operate, Manage and provide the necessary expertise to keep the refinery profitable for decades to come.

Omega-Refineries will be responsible for selling the refined products into our existing market in Nigeria through local retailers. We expect 100% of the refined products be pre-sold in advance through a forward contracts.
Project Cost and Economic Benefits

Overall value of the Refinery upon completion will be in the range of U.S. $1 billion. Overall Budgetary Price of the Mini Refinery is U.S. $480 million. (Lump sum “turn-key” delivered, for two stages of construction, including cost of local amenities. This is 50% less than the cost of a second hand ready-made refinery of conventional refinery of similar capacity, even without the waste management capacity of the Port Harcourt Refinery). Full scope of Engineering, Procurement, Construction, Supervising and Project Management Services is included in Budgetary Price (within Battery Limits of the Refinery).

Break-even period for investments is expected to be five years. The Refinery will create an estimated 500 full-time jobs and 1,000 ancillary jobs resulting in a total of 1,500 new high quality jobs in Rivers State and Nigeria. This does not include local suppliers and sub-contractors.

Value:
Value of the completed refinery, including the crude oil allocation and refinery license is estimated at US$1.750 billion.
Conclusion:
National Standard Finance, together with Omega-Butler, with the help of the Rivers State Government will be an invaluable partner and contributor to this project by making sure the refinery is well managed and profitable, including selling all refined products into existing market through national retailers in Nigeria well in advance of production. Omega-Butler Refineries will also give priority of training and employment to local people from Port Harcourt and environs and to indigenous companies.

Global Sovereign & Infrastructure Investors
National Standard Finance, LLC is a leading multinational institutional alternative investment company and asset manager that specializes in sovereign (government) and infrastructure investing. National Standard is capitalized by a consortium of large North American financial institutions and some of the world’s leading global investment banks with combined financial assets exceeding US $2 Trillion which provide us with the financial backing to tackle the most complex and challenging financial transactions. National Standard maintains offices and staff across the global markets we serve.

A pioneer with best in class capabilities in global sovereign and infrastructure financial markets, National Standard is partnered with sovereign and sub-sovereign governments, helping design and fund infrastructure development programs. This includes leading government sponsored finance agencies and many of the world’s elite institutional investors, to create a progressive global capital syndicate dedicated to financing critical infrastructure and sovereign capital requirements around the world.

The sector focus is credit-worthy essential infrastructure assets, including but not limited to transportation, energy (Power, Oil & Gas), social programs including low income housing, healthcare and other mission critical assets sponsored by sovereign partners and executed by world-class private sector partners.
National Standard’s mission is to provide long term flexible private infrastructure capital [debt, leasing & equity] to select international markets, massively underserved by deleveraging international banks, formerly the backbone within these segments.

National Standard’s Africa operations (National Standard Finance Africa) are managed out of Johannesburg, South Africa and is managed by Michael Tichareva, Principal and Managing Director of National Standard Finance Africa and Kajiya Kantumoya, Director of Investments for Africa.



http://www.ngrguardiannews.com/2015/05/new-refinery-plus-1500-new-jobs-coming-to-rivers-state-and-nigeria/

[img]https://qzprod.files./2015/05/buhari.jpg?w=1600[/img]

When the World Economic Forum’s Africa summit opens in Cape Town on Wednesday, the center of attention will not be Jacob Zuma, president of the host nation, or any of the politicians, philanthropists, or business leaders among the 1,250 delegates—from 75 countries—attending the continent’s biggest business and economics gathering of the great and the good. The man on everyone’s mind will not even be there: Muhammadu Buhari, the newly sworn-in president of Nigeria.
Sure, there will be much discussion on the continent’s challenges and opportunities. There will also be much deal-making on the sidelines: business leaders say the regional WEF gatherings are more conducive to clinching deals than the annual conclave in Davos, which is better suited to higher-altitude deliberations on global issues.
But it’s a fair bet that the majority of those gathered in the Cape Town International Convention Center will have their eyes turned toward Aso Rock, the presidential palace in Abuja. As Africa’s biggest country—and, as of last year, its largest economy—Nigeria’s fate has an enormous bearing on practically everyone at the WEF event.
The question they will be asking is, can Buhari solve Nigeria’s many chronic problems? The former military dictator has barely returned to power—this time, with a popular mandate—but neither his country nor his continent can afford to give him much time to settle in. His swearing-in last week was attended by a palpable sense of expectation, mixed in with a driving urgency, across Africa.
As an economic forum, it is inevitable that much of the conversation among the WEF delegates will be about Nigeria’s economic woes—demonstrated just last week by a fuel crisis that nearly overshadowed Buhari’s investiture—and its huge opportunities. (One early test for Buhari: paying salaries to government employees.)
The departure of the his do-nothing predecessor, Goodluck Johnathan, has automatically given rise to a sense of optimism about Nigeria’s economy. Cape Town will be an opportunity to parse Buhari’s policy pronouncements and his appointments to key government positions.
But no discussion about Nigeria can long evade the topic of Boko Haram, the terrorist group that has bedeviled the country—and its neighbors—for much of the past year. Here too, Buhari has aroused optimism by reorganizing the command structure of his security forces, and pledging to step up the campaign against the terrorists. (Boko Haram has welcomed the new president with fresh violence in Maiduguri.)
But it will take more than military operations to subdue the terrorists. There are thousands of fighters in Boko Haram’s ranks, and Buhari will need to find a way to amnesty many of them, as well as find a way to reintegrate them into the very Nigerian society they have long traumatized.
How to achieve that will be the subject of a WEF panel I will be moderating, entitled, “Silencing the Gun.” Among my panelists is Hafsat Abiola-Costello, a Nigerian human-rights activist, and scion of a prominent political family. I am looking forward to her thoughts on how Buhari should deal with the challenge of militancy.
Along with Abiola-Costello, all the Nigerians attending WEF should brace themselves for lots and lots of questions about their new president, and his government. In his absence, they will be his proxies.
As for Zuma, he will not go entirely unheard. South Africa’s president is expected to participate in two WEF sessions: on how to fix the continent’s infrastructure, and how to engage its youth.


http://qz.com/416033/hello-africa-a-welcome-letter-from-our-team/

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http://lindaikeji..com/2015/06/lol-nigerians-wont-kill-someone-with.html

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Lol...I can't with Nigerians!!


http://lindaikeji..com/2015/05/hilarious-check-out-caption-on-this.html

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Here is how a reputable Nigerian online news outfit reported the visit to Nigeria of Guinea's President Alpha Conde.

QUOTE:

"President Conde will be meeting with top Nigerian captains of Industry in Lagos in an attempt to lure investments to his mineral-rich country. He is also expected to hold a private session with the National Leader of the All Progressive Congress, Bola Tinubu"
UNQUOTE: elombah .com

Now, I do not know why in the absence of the Nigerian Government officials, the leader of APC and God Father of President-elect Buhari, Chief Bola Tinubu was receiving foreign head of state at the VIP wing of the Murtala Muhammad airport. Aside from the obvious national security issues raised, there's concern that those we elected are stooges of the vested interest. Granted that the President elect is out of the country on a private visit to U.K. Why wasn't the Vice President-elect Pastor Yemi Osinbajo not the one welcoming this visiting head of state?


In recent news, a PDP Stalwart Kashamu Buruji's home was and is still beseiged by officials of Nigeria Drug, Law Enforcement Agency (NDLEA) trying to arrest and extradite him to the U.S. to answer charges related to trafficking of heroin into the United States.
Even though Buruji's party is People's Democratic Party, he might as well be a member of All Progressive Congress. I know some reading this may be naive enough to think that there are no Kahumu Burujis in APC. Also the gullible ones reading this, especially the ones that voted for this kind of CHANGE may think the "Burujis" in APC have been banned from having access to foreign heads of state or are banned from using the proposed "Bola Tinubu Airport" in Lekki.


I know its depressing to note that the possibility exists that an airport may be named after Jagaban while all Awo got was a University named after him. Very sad day indeed.


In an advertorial in a full page National Newspaper after the results of the Presidential elections were announced, Buruji had in an unprecedented fashion heaped praises on the leader of APC as his hero and the undisputed new leader of the Yorubas (New Awo)
When I saw that advert, I was not surprised because both Chief Bola Tinubu and Kashamu Buruji have one thing in common.
Both had been indicted at some point for trafficking heroin by the District Court of Northern Illinois, U S.A.
While we are still on the subject of having things in common. The visiting President of Guinea and the incoming APC Government led by Rtd. General Buhari have both enlisted former British Prime Minister Tony Blair as their "unpaid" adviser.
Also, the country of Guinea has been under the threat of Latino drug cartels that are seeking new West African client states since their key smuggling route to Europe had been destroyed by French military action in Mali.
Rtd. General Buhari who himself is not squeaky clean considering his involvement with the Emir of Gwandu's 53 suitcases but a stand-up "guy" with upright character was in my humble opinion deliberately sidelined by the Jagaban in this private business talk with the visiting President of Guinea. It is also my opinion that the side-lining of the Vice-President who is a Pastor of the Redeemed Christian Church by Jagaban was deliberate. We all know that as a pastor of the redeemed Church, Prof. Yemi Osinbajo may be averse to some kinds of shady business, reason why he may have been sidelined in these talks with President Conde. I am not saying that Prof. Osinbajo is squeaky clean but I am sure you get my drift.


Right now, I won't be surprised if the construction of the Lekki Airport is intensified and the completion within the next couple of years. That too in my humble opinion will be a deliberate attempt by Jagaban to reduce by half his travel time by road to Murtala Muhammad to receive visitong foreign dignataries or sidelines f you are an un-apologetic freedom fighter for truth, you might conclude its a modern way of by-passing the Security at the Murtala Muhammad airport.


The PDP never had a dominant leader and God-father like Bola Ahmed Tinubu. The closest person was an Octogerian in the person of Chief E.K. Clark. Very un-faur to try to draw any comparison between the two. For one, E.K. is a statesnan who served hus country well. He played the role of confidant and mentor to outgoing Presudent Goodluck Jonathan. Say what you like about E.K. Clark, he would never have been emboldened to receive foreign head of states while side lining Vice President Namadi Sambo.


If this is what we voted for.... so be it. And if it is not the decent thing to do is what I am doing right now. I am not a soothsayer but I have a feeling we will be doing a lot of this in the next 4 years or so.
Finally, may I seize this opportunity to wish the President-elect Goodluck in his onerous task of fulfilling his campaign promises such as making a barrel of crude oil sell for $100; paying unemployed graduates 5,000 a month for 2 years; making the exchange rate for $1 to equal 1 Naira, to scrap the Presidential fleet etc.


http://lindaikeji..com/2015/05/man-shares-his-opinion-on-bola-tinubu.html

Press statement from the EFCC denying that GEJ starved the commission of funds...
The attention of the Economic and Financial Crimes Commission has been drawn to a report in The Sun newspaper of Tuesday, May 26, 2015, entitled, Jonathan Starved EFCC of Funds- Lamorde, in which the Executive Chairman of the Commission, Mr. Ibrahim Lamorde was quoted as indicting the out-going Jonathan administration of poor performance.
The Commission takes exception to this report which is pure fabrication by the author for reason best known to him.
In the first place, Lamorde who is currently out of the country did not speak with the media and could not have made the comments attributed to him by The Sun newspapers.

The occasion that provided the basis for the false report by The Sun was a media briefing by Mr. Wilson Uwujaren, spokesperson of the EFCC, who addressed more than 40 journalists from over 30 media organizations at the Commission’s monthly media briefing in Abuja on May 25, 2015. At no time during the event did Uwujaren comment on the performance or lack of it, by the Jonathan administration let alone accusing it of poor performance or starving the Commission of funds.

He was only asked a question on the Commission’s view on the focus which the in-coming Buhari administration places on the fight against corruption, to which he responded that the Commission, like most Nigerians who are bothered about the problem of corruption, welcomes the focus which he believes will further empower the EFCC in the pursuit of its mandate of fighting economic crimes and corruption. It is a great disservice to society when journalists fabricates and twist issues to serve motives that are not altruistic.



http://lindaikeji..com/2015/05/jonathan-did-not-starve-efcc-of-funds.html

Get ready for a new economic order. In the world 15 years from now, the U.S. will be far less dominant, several emerging markets will catapult into prominence, and some of the largest European economies will be slipping behind.

That's according to the U.S. Department of Agriculture's latest macroeconomic projections that go out to 2030, displayed in the chart below. The U.S. will just barely remain the global leader, with $24.8 trillion in annual output. The gray bar represents the $16.8 trillion gross domestic product projected for 2015, and the green bar shows how much bigger the economy is expected to be 15 years from now. The country, worth 25 percent of the world economy in 2006 and 23 percent in 2015, will see its share decline to 20 percent.

China's GDP will grow to more than twice its size today, helping the Asian powerhouse to almost entirely close its gap with the U.S.

https://media.gotraffic.net/images/iPn8SIWm3_pY/v1/-1x-1.png

India, ranked eighth for 2015, will climb past Brazil, the United Kingdom, France, Germany and Japan to take third place in the world ranking. The International Monetary Fund calls India "the bright spot in the global landscape." The country will have the largest workforce in the world within the next 15 years, the IMF notes, and among the youngest.

Other nations won't be so lucky, particularly among developed economies. Japan, which was a roaring economy until its asset bubble burst in the early 1990s, has already slogged through decades of stagnation and will likely continue to see very little growth over the next 15 years. That will push Japan down a spot in the rankings by 2030, according to the USDA estimates.
Japan is "an important lesson in how quickly you can downshift your status of what a structure of an economy delivers," said Bruce Kasman, JPMorgan's chief economist.
France will slide three spots, while Italy drops two.

In the overall ranking, Jamaica will surrender the most ground, bumping down 13 places to 136. Countries with the biggest advances -- like Uganda, which will climb 18 spots to rank 91 -- are concentrated in Africa, Asia and the Middle East.
It's important to take estimates stretching out so far with a note of caution, though.
"There are lots of uncertainties," said Kasman. "Whether China grows at 4 percent or 6 percent matters an awful lot for where it looks like it's going to be in the global economy. Whether India grows at 3 percent or 8 percent -- these are huge differences when you compound them over long periods of time."

The USDA is not the only -- and hardly the most widely-followed -- ranking of global economic growth, though it does offer the advantage of particularly long-term outlooks. The International Monetary Fund's economic outlook only projects out two years. Look out for it later this month.

And if 15 years is too far out for you, take a look at the fastest-growing economies just for this year.
(The graphic in this story has been corrected to reflect the accurate order of the world's 20 largest economies in 2030 according to the USDA's forecasts. The projections show that the 19th-largest economy will be Nigeria and the 20th-largest will be the Netherlands.)


http://www.bloomberg.com/news/articles/2015-04-10/the-world-s-20-largest-economies-in-2030

The Legal Practitioners Disciplinary Committee has expelled a Senior Advocate of Nigeria, Chief Kunle Kalejaye, from further practising as a lawyer.

The LPDC disbarred Kalejaye after finding him guilty of professional misconduct. A five-man panel of the LPDC, led by the President of the Court of Appeal, Justice Zainab Bulkachuwa, conducted the investigation.

The LPDC found Kalejaye guilty of misconduct while representing the Peoples Democratic Party and its then candidate, Prince Olagunsoye Oyinlola, at the Osun State Governorship Election Petition Tribunal, where Oyinlola’s victory in the 2007 poll was being challenged by the then candidate of the Action Congress of Nigeria, Mr. Rauf Aregbesola.

Kalejaye was said to have engaged in a “confidential, private and confidential telephone conversation” with the Chairman of the Osun State Governorship Election Petition Tribunal, Justice Thomas Naron, without the knowledge of the other party.

He allegedly engaged in the unprofessional act between March and June 2008 and the Justice Naron with whom he committed the misconduct had since February 20, 2013 been compulsorily retired by the National Judicial Council.

The Presiding Justice of the Court of Appeal, Ekiti Division, Justice Paul Galinje, who read the directive (judgment of the LPDC), held that the prosecution, the Nigerian Bar Association, proved its three count complaints against Kalejaye.

The NBA was represented by Jibrin Okutepa (SAN).

He held that Kalejaiye violated the provisions of sections 1, 15, 30, 31, 34 and 55 of the Rules of Professional Conduct for Legal Practitioners (2007).

The panel directed the Chief Registrar of the Supreme Court to delete his name from the roll (list) of legal practitioners in the country.

The committee also directed that its decision should be served on the President of the Nigerian Bar Association, the Chief Judges of all the states of the federation, the Chief Judge of Federal High Court, Chief Judge of the High Court of the Federal Capital Territory, the Inspector General of Police and all the states’ Commissioners of Police.

It also directed that the decision be published in the media.

Kalejaiye’s lawyer, Niyi Owolade, a former Attorney General of Osun State, had objected to the LPDC’s decision.

He said his client was about filing his appeal at the Supreme Court.

Under the Legal Practitioners Act, Kalejaiye has up to 28 days to appeal the decision, failing which it will become effective.

Kalejaiye represented the PDP and Oyinlola at the Governorship Election Petition Tribunal which heard the petition by the ACN and its candidate in the 2007 governorship election, Aregbesola.

The LPDC rejected Kalejaiye’s defence to the effect that his telephone number was cloned.

The committee held that while Kalejaye was able to show, by expert evidence, that spoofing as a general phenomenon was possible, he failed to show that spoofing was possible on the MTN network which owned the lines with which Kalejaiye and Naron communicated.

He was said to have only demonstrated such possibility with Etisalat and Glo networks.

The committee also faulted Kalejaiye’s documentary evidence, mostly newspaper publications (including advertorial sponsored by Kalejaiye), faulting the authenticity of the call log from MTN.

The committee said it would have been more helpful had Kalejaiye applied and got his call log from MTN to prove that the one tendered by the prosecution was not the actual one.


http://www.punchng.com/news/oyinlolas-lawyer-loses-practising-licence-over-election-case/

[img]https://twitter.com/ElderGOrubebe[/img]

[img]https://twitter.com/ElderGOrubebe/status/600612393094352901[/img]


http://www.bellanaija.com/2015/05/19/godsday-orubebe-reportedly-defects-from-pdp-to-apc/

President-elect, Muhammadu Buhari, on Wednesday explained why he went to court to challenge results
of the presidential elections he lost in 2003, 2007 and 2011.

Buhari, who stated this when Delta State All Progressives Congress members visited him in Abuja, said he took the decision because he believed Nigeria must be free.

Buhari said, “Going through the court is not easy, both materially and physically, and I maintained that consistency because my view about my country is that Nigeria should be truly free.”

He condoled with the delegates over the killing of some people during the last general elections.

The president-elect added, “I understand why many of you, who were denied the opportunity to choose those you want to represent and lead you are taking the line I took in the last 12 years in line with our constitution.

“Whether you get it or not, the most important thing is that you believe in the system and you should continue to try until the system is perfect.

“I express my condolence to you for the people murdered and I assure you that my objective of remaining consistently in partisan politics is to make sure that Nigerians are given their inherent right to choose whoever they want to lead them.”

The president-elect said he would never support anybody who undermined that right of Nigerians.

He added that arming unemployed youths and sending them to kill their own people was the worst thing anybody, aspiring to leadership, could do.

According to him, he will concentrate on what Nigerians would be proud of, adding that Nigerians would be respected.

Buhari explained that the first objective of the APC would be security, adding that insecurity destroys the economy.

The leader of the delegation and the APC governorship candidate in the state, Olorogun Otega Emerhor, alleged that the Peoples Democratic Party disenfranchised the people of Delta State and the South-South at both the presidential and governorship elections.

He stated, “As our submission to the tribunal in respect of the governorship and state Assembly elections will demonstrate, in truth, majority of Deltans were ready for the change you represent and were geared to vote massively for you and APC.

“Unfortunately, a grand design executed by the PDP in the South -South and South-East and particularly Delta, Rivers and Akwa Ibom states, made sure that no proper elections took place.”

He alleged that result sheets were confiscated and results fabricated, alleging that PDP resorted to violence and intimidation.

Emerhor said, “Our election petition shows that while announced voter accreditation was over 1,017,796, the actual card reader accreditation report shows only 709,700.

“As you are aware, Delta State, along with Akwa Ibom and Rivers states are rich in oil resources and the PDP is determined to hold on to these states at all cost in order to utilise the huge revenue base of these states to re-launch itself to national reckoning.



http://news2.onlinenigeria.com/news/general/414097-revealed-reasons-why-i-challenged-2003-2007-2011-polls-in-court-buhari.html

mkpakanaodogwu:
the in-laws were too loud and noisy.

Yes they were

Afam4eva:
I'll blame the man's family for starting the trouble. We all know Omugwo is reserved for the wife's family, so it beats me why his mother, out of jealousy will want to be the one to go for Omugwo. Parents have to understand that one their son marries, he makes his own decision and is not subject to the whims of his family. I also think that his wife's family escalated issues by locking up the Father of the man. That is a very idiotic action to take. I cab understand the mans inability to do something.

I agree

mkpakanaodogwu:
Moderation is the key

Explain Please

The Nigerian Deposit Insurance Corporation has asked a Federal High Court in Lagos to place on the “undefended list” a suit it filed to recover an alleged debt of N34m from the Senior Special Adviser to President Goodluck Jonathan, Dr. Doyin Okupe, and two others.

A plaintiff usually applies to put a matter on undefended list when he believes the respondents have no valid defence.

Okupe’s co-respondents in the suit filed by the NDIC before Justice Saliu Saidu are Value Trust Investment Limited and its Director, Mr. Ray Ahazie.

The corporation had instituted the action in 2007 to recover the alleged debt being the outstanding of a loan facility obtained by the respondents from Gulf Bank Plc in October 2000.

The corporation, in a statement of claims by its lawyer, Dr. Abiodun Layonu (SAN), said the respondents obtained the loan from the bank to facilitate a contract to supply the Bayelsa State Government with 10,000 metric tons of imported rice.

It, however, stated that though the said rice was successfully imported on December 28, 2000, the ship was unable to berth at the Apapa Port in Lagos until January 3, 2001 because the port was then congested.

The corporation stated further that when the ship arrived at Port Harcourt on July 26, 2001, an unpaid agency fee in the sum of $155,000 prevented it from berthing.

According to the NDIC, the said delay in the delivery of the bags of rice led to some becoming caked and some becoming stained.

Bayelsa State Government was said to have refused to take delivery of the rice, following which Gulf Bank was forced to commence an open market sale of the goods and in the process discovering that a good number of the bags of rice were spoilt.

The bank said that at the end of the sale it was able to recoup only N454, 574,150 of the loan advanced to the defendants leaving an outstanding sum of N70,425,850.

The outstanding sum was said to have been attracting interest since 2001.

The matter was said to have been referred to the Economic and Financial Crimes Commission in September 2005 where the sum of N196,642, 996 of the debt with interest was waived, leaving only an outstanding of N44m.

The NDIC however claimed that following the waiver, the defendants were able to pay only N10m out of the N44m bringing the debt down to N34m.

But since then the defendants were said to have allegedly abandoned the debt or refused to liquidate it.

NDIC in its suit before the Federal High Court is seeking to reclaim the indebted sum with 21 per cent interest per annum till it would be finally liquidated.

The corporation also wants the court to put the cost of instituting the legal action on the defendants.

At the resumed hearing of the case before Justice Saidu, counsel for the NDIC, Mr. Oburume Ayeteno, informed the court that the corporation had filed an application to place the suit on the undefended list, adding that he was ready to argue same.

In response, however, Okupe’s lawyer, Mr. Yemi Gbonegun, said he had already filed a statement of defence to the claims.

The document was however not found in the court’s records following which Gbonegun sought for an adjournment to be able to re-file it.

The court adjourned further proceedings till July 8.


The Nigerian Deposit Insurance Corporation has asked a Federal High Court in Lagos to place on the “undefended list” a suit it filed to recover an alleged debt of N34m from the Senior Special Adviser to President Goodluck Jonathan, Dr. Doyin Okupe, and two others.

A plaintiff usually applies to put a matter on undefended list when he believes the respondents have no valid defence.

Okupe’s co-respondents in the suit filed by the NDIC before Justice Saliu Saidu are Value Trust Investment Limited and its Director, Mr. Ray Ahazie.

The corporation had instituted the action in 2007 to recover the alleged debt being the outstanding of a loan facility obtained by the respondents from Gulf Bank Plc in October 2000.

The corporation, in a statement of claims by its lawyer, Dr. Abiodun Layonu (SAN), said the respondents obtained the loan from the bank to facilitate a contract to supply the Bayelsa State Government with 10,000 metric tons of imported rice.

It, however, stated that though the said rice was successfully imported on December 28, 2000, the ship was unable to berth at the Apapa Port in Lagos until January 3, 2001 because the port was then congested.

The corporation stated further that when the ship arrived at Port Harcourt on July 26, 2001, an unpaid agency fee in the sum of $155,000 prevented it from berthing.

According to the NDIC, the said delay in the delivery of the bags of rice led to some becoming caked and some becoming stained.

Bayelsa State Government was said to have refused to take delivery of the rice, following which Gulf Bank was forced to commence an open market sale of the goods and in the process discovering that a good number of the bags of rice were spoilt.

The bank said that at the end of the sale it was able to recoup only N454, 574,150 of the loan advanced to the defendants leaving an outstanding sum of N70,425,850.

The outstanding sum was said to have been attracting interest since 2001.

The matter was said to have been referred to the Economic and Financial Crimes Commission in September 2005 where the sum of N196,642, 996 of the debt with interest was waived, leaving only an outstanding of N44m.

The NDIC however claimed that following the waiver, the defendants were able to pay only N10m out of the N44m bringing the debt down to N34m.

But since then the defendants were said to have allegedly abandoned the debt or refused to liquidate it.

NDIC in its suit before the Federal High Court is seeking to reclaim the indebted sum with 21 per cent interest per annum till it would be finally liquidated.

The corporation also wants the court to put the cost of instituting the legal action on the defendants.

At the resumed hearing of the case before Justice Saidu, counsel for the NDIC, Mr. Oburume Ayeteno, informed the court that the corporation had filed an application to place the suit on the undefended list, adding that he was ready to argue same.

In response, however, Okupe’s lawyer, Mr. Yemi Gbonegun, said he had already filed a statement of defence to the claims.

The document was however not found in the court’s records following which Gbonegun sought for an adjournment to be able to re-file it.

The court adjourned further proceedings till July 8.



http://www.punchng.com/news/ndic-moves-to-recover-n34m-debt-from-okupe-2/

The President-elect, Muhammadu Buhari, has denied backing one of the aspirants to the Senate Presidency, saying he is willing to work with any leader of the Senate irrespective of what part of the country he or she originates from.

In a statement in Abuja on Wednesday, Buhari described as false, insinuations that he was in support of any particular Senator’s emergence as Leader or that he belongs to any camp pushing for the emergence of a leader from a particular part of the country.

“I am prepared to work with any leaders that the House or Senate selects. It doesn’t matter who the person is or where he or she is from,” the President-elect said in the statement by the Director, Media and Publicity, APC Presidential Campaign Council.

He added that these insinuations were probably borne out of people’s expectations based on the way things had happened in the past, but reminded Nigerians that change had truly come.

“There is due process for the selection of leaders of the National Assembly and I will not interfere with that process,” he said.

Buhari added that the media and the public should begin to get used to no more “business as usual.”

The President-elect added, “Nigeria has indeed entered a new dispensation. My administration does not intend to repeat the same mistakes made by previous governments.”



http://www.punchng.com/news/buhari-denies-backing-senate-presidency-aspirant/

ahsekeena:
The man's family are all maaaaaaaaaad!!!!!




Every woman wants her own mother to come for omugwo and not the MIL!




She is a very wicked and foolish MIL.




The man should just take his wife home and tell his parents and in-laws to stay away. Let him get a care giver to help wifey out.



U know,no family is more important than the family u have created. His wife and kids should be on top of his priority list. Village people always embarass themselves,dunno why.

so you are saying the wife's mum should always be the person to come for omugwo?

I was thinking it could be rotated, one person after another

The Nigerian government says a 10MW capacity wind farm is almost complete and has already begun functioning on trial basis. Situated in the Northwestern state of Katsina, the project is the first wind-based energy development in the country and the largest in West Africa.

The 10MW wind power project can provide power for over 2,200 homes, according to industry calculations. The farm is situated in Rimi village, 25 km south of Katsina City. It is made up of 37 turbines, each with a capacity of 275kW. The state government first envisioned the project, inspired by the high wind velocity in Katsina, and gained the support of the federal government. The project was funded by the Japanese International Cooperation Agency (JICA), and developed by French company Vergnet S.A.

The Permanent Secretary of Nigeria’s power ministry, Godknows Igali, said the plant is 98 percent complete. He told journalists that five of the turbines in the wind farm have been successfully tested, and confirmed that the transmission line was ready. Igali added that wind energy is an integral part of the National Policy on Sustainable Energy and Energy Efficiency, and described the wind farm as part of several other clean energy projects being planned or executed in the country.

About 80 million people in Nigeria lack access to electricity; it is one of the key hindrances to human and economic development in Africa’s largest population and biggest economy. However, the present government has initiated several measures to remedy the energy crises. Among them is the liberalization of the power industry to inspire public private partnership in the sector. The country has also been attracting interest in the harnessing of its renewable energy sources, particularly solar energy. Last year, Gigawatt Global, announced that it was building a 100MW PV station in the north. Motir Seaspire, a US investment consortium, also signed an MoU recently with the Nigerian government to deliver up to 1,200MW of solar-powered electricity in the country by 2017.



http://www.ventures-africa.com/archives/62622

President Goodluck Jonathan and Vice President Namadi Sambo are to take the president elect and his, Muhammadu Buhari and Professor Yemi Osinbajo on a tour of the Presidential Villa on the 28th of May, 2015 as part of the final activitiesfor the handing over ceremony.
Governors of Niger and Benue state, Babangida Aliyu and Gabriel Suswam who addressed state House after yesterday’s National Council of state meeting said the council also approved a template for subsequent handover and take over.
Governor Aliyu said that the Council also ratified the programme of both the transition committees of the outgoing government of President Goodluck Jonathan and the incoming administration of president elect, Major General Muhammadu Buhari for final transmission of power on May 29.
According to him, yesterday’s meeting was a valedictory session for President jonathan.
He said that that 28th May remains the handover of notes to the incoming government at a dinner while 29th is the inauguration proper.
Governor Aliyu said there will also be a lunch and a gala night on the same day of the inauguration.
Explaining further on the issue of the handover notes on May 28, governor Aliyu said that “it is only a technicality. One is inauguration, the formality of the new president taking over. Technically, the 29th is for the man taking over.”
He said “For handing over documents, you don’t wait until that 29th because after the inauguration, the transition committee may continue. If you recall, when President Jonathan came on board, he inaugurated the Genetal Danjuma’s committee to look at all the documents that were handed over to them and make recommendations. So it is a continuous thing.”
“The handing over of documents from the outgoing President to the incoming President ‎will take place on the 28th and the inauguration on the 29.
“Invitations have been sent out to all the presidents of African countries ‎including presidents and prime ministers of the G8, multilateral heads like the United Nations, Commonwealth, ECOWAS, African Union. We expect a beautiful ceremony on the 29th.
“We also reiterated that there will be no African time. This idea of inviting people ‎and the invitee arrives before the inviter is not good for us. And therefore we must set examples for people to follow as leaders and those of us we organise this event we must stick to the details of the timing of the activities.” He added.
In his remark, Governor Suswan noted that during the meeting, council decided that going forward, there should be proper templates in which all transition committees must follow on handover to new administrations.
“The council decided that henceforth there has to be a template in which transition will follow, we have never had it. This is the first time one is going to be developed, so that there is no speculation as to what needs to be done as everything will be in a template.
“There is a transition whether it is from the same party to the same party or from one party to another. It is the same template. You will recall that we have never had a template in which to follow and how we go about our transition but what is going to happen this time around is going to be permanent.”
During the council meeting, the National Security Adviser Colonel Sambo Dasuki also briefed members on the security situations in the country among which was the issue of Boko Haram and the level of successes ‎recorded so far by security forces.
Suswan who briefed on the security issue said, the present administration has handled the insecurity in the north east to a level that would give less problem to the incoming government.
He said ” the summary of what the NSA presented to council was to say that Nigeria is now better prepared than it was three years back in fighting any form of insurgency because outside the immediate surrounding countries, the international community have also keyed in to giive serious assistance.
“So moving forward is not going to be like what happened before where these insurgents had a fiilled day where our military where put in a bad light. Our military is well equipped now, there is better training for them to cope with terrorism. Terrorism was alien to this country and so once it came, we needed to counter the terrorists.
“That has been done and so Nigeria is fully ready as a country to fight any insurgency moving forward. But that the incoming administration will pick up from the solid foundation that has been laid in addressing security challenges, there is a new ways of doing things and he believes that the incoming administration will have less problems than the outgoing administration.”
According to the Benue State governor, “So Nigerians should have confidence that insurgency will soon be a thing of the past and he assured Council of State that before May 29th‎ at least, the enclaves which is Sambisa forest will be properly combed and anihiliated and that will at least put paid to the incessant gorrila style attacked that have been raging in the past.”
Council also deliberated on the of Fulani herds men which he noted needs to looked into the incoming administration.
“There is a document that states what needs to be done that will reduce the clashes which has resulted to a number of IDPS in places like Niger, Benue, Taraba, Nasarawa. These are places you have incessant clashes between the herdsmen and farmers. Suswan noted.
Yesterday’s meeting was attended by all living former heads of state and most state governors or their representatives.
President Elect, Muhammadu Buhari was also attending the National Council of state meeting for the second time in three months after a long spell of absence.
He attended the council of state meeting late january where it was decided that the elections be rescheduled to allow the military enough time to reclaim some areas lost to Boko Haram in the North East.
Yesterday’s meeing was the first since Buhari defeated president Jonathan in the March Presidential elections.
Former presidents and heads of state in attendance at tuesday’s meeting are, Shehu Shagari, Olusegun Obasanjo, Ibrahim Babangida, Abdulsalam Abubakar and Ernest Shonekan.
The National Council of state comprises the President, former presidents, former chief Justices of the Federation, state governors, the attorney General of the federation and the Minister of the Federal Capital Territory


http://www.vanguardngr.com/2015/05/jonathan-to-take-buhari-on-a-tour-of-villa-28th-may/

musicwriter:
@ducii.
Greed and jealousy is the No.1 cause of all this. Greed and jealousy from the man's family.

But I mainly blame the man of the family. The man himself should take control of his family and not allow his family members to marry her wife. Once married he have created a separate family different from his parents. Himself and his parents should know this.

It is kind of difficult, I think the main issue is because they are from the same village, so they know each others business most of the time.

The President-elect, Muhammadu Buhari, will get his handover notes from President Goodluck Jonathan on May 28.

He will also be conducted round the Presidential Villa, Abuja alongside the Vice President-elect, Yemi Osinbajo, by the outgoing President on the same day.

These were parts of the transition programme that was approved on Tuesday at a meeting of the Council of State presided over by President Goodluck Jonathan.


http://www.punchng.com/news/buhari-gets-handover-notes-on-may-28/

bigfrancis21:
This is quite a serious issue. Traditionally in Igbo culture, the wife's mother is the rightful person who goes for Omugwo. In some families, like my family for example, it can be shared between both mothers, but the wife's mother visits first, then next the man's mother.

The blame is on everybody in the family. This is a simple matter gone wrong along the line.

The man in question did not handle the matter as he should have. The man himself is weak. How can he stay there and watch family members forcefully move his family out of the house? Being the man of the house, on seeing that his mother was not happy at the way he spent on his mother-in-law, he should have quickly invited his own mother for Omugwo, or at least bought and sent her even greater things than that of his wife's mother to allay his mother's anger. But then he didn't do nothing. Also, the man's mother is at fault for flouting traditions by insisting to go for Omugwo at the birth of her son's second child. The wife herself seems to be biased as she could have equally invited her mother-in-law for Omugwo after her own mother left.

Next, his father in law should not have locked his in law in the police station no matter what the reason is.

Personally, me myself if I were a mother, I won't be happy to see a son I gave birth to, and raised with all my energy, sweat and blood suddenly become a stranger to me. The man should have known this and balanced the equation on both sides.

I proffer this solution:
- he should bring his immediate family home immediately from wherever they are. They are his own, and nobody, not even any of his family members, has the right to 'seize' his wife and kids.
- he should attempt to make peace with his mother immediately. For a fair treatment, let him have his own mother visit for omugwo. From the next time onwards, it will be shared equally amongst both women - wife's mother visiting first, then his mother. He should also ensure that he buys her even greater things to appease the woman's mind.
- his father in law has to apologize for locking his in law in prison. This is abhorrent and irresponsible no matter what the reason is.

And then peace returns back to the family.

As a side note, Bros himself should become more proactive. The typical Nigerian (Igbo) man isn't that docile but takes charge of his family affairs. He shouldn't sit there and watch his home tear into pieces in such manner. I can only guess that he is the weak type who is controlled by his wife, who often makes most decisions in the family.

I concur with most of your observations

It goes like this…

There is this Bros we come from the same village, he came to Lagos after graduation a few years ago, and started hustling, after a few months he got something he was doing just to keep himself busy although the job was not paying much he kept right at it. After some years he left this job to set-up his own business. Not too long Bros started doing well for himself, buying nice cars, and started to build a house in the village for his parents.
He came back once for a family members traditional marriage, there he met this young girl and fell helplessly in love with this girl, although to the disapproval of his sister (who at the time was friends with the said girl) and family members who had issues with the girls family and the fact that she was about average height, but he refused and continued dating the girl and about 7 months down the line we all assembled for his traditional marriage.

A year after that his wife was pregnant and he chose the US as his choice destination for his child to be born. When his wife came back after giving birth they called his wife’s mum to come to Lagos to help do Omugwo (child rearing duties) for her daughter.

Fast-forward 8 months after helping with omugwo, the girl’s mum was ready to go back to the village Bros bought every wrapper you could think of, bought her a cooking gas to replace the one she had before, also bought clothes for her husband as well, I mean they hired a bus to send the woman back to the village.
The woman getting to the village instead of keeping her cool, decided to invite nearly every passing stranger in front of her house, to come and see what her son-in-law bought for her. She went to our local market and was doing the same thing.
The man’s parents learnt about how their in- law was taken good care of in Lagos, became angry as to why their son will be spending money recklessly like that with no regard, and called their son and allayed their worries to their son, but he told them that it was fine, that he was just showing appreciation to his mother-in- law for the time she took out to come help them.

I think that was where is problems started, because fast-forward 2 years his wife was pregnant again for their second baby, and as soon as he called his family members to tell them of the good news, his mum told him that this time it was her turn to come for Omugwo, although he was surprised by what his mum was saying he didn’t respond to his mother’s request. His mum did not stop there, she went to their in – laws house to inform them of the news, and to also inform them that this time it was her turn to go for the omugwo thing. The lady’s mum said that over her dead body will somebody help her nurse her daughter when she is still alive.

Some months down the line Bros’s wife left for the US to give birth, and before she could even finish giving birth Bros’s mum and dad and his wife’s mum and dad were already in Bros's house in Lagos, Bros’s house was on Fire.
When Bros came back with his wife and saw the chaos that was going on in his house, he told both parents to leave his house, that he was going to take care of his wife himself.

When the both parents got to the village, Bros’s parents went to their in- laws house to make their disapproval of how they are interfering in their family affair known to them, but a fight broke out between both families, and because the girl’s father was a retired principal in the secondary school that was in our village and still had some political affiliations with the local Politicians he was able to get the police to lock up Bros’s father for 2 days.

When Bros heard that his dad was locked up in the police station by his in-laws he did not know what to do, as he did not want people to think he was taking sides, he paid for his father’s bail and his father was released from jail, so that the matter could be resolved at home.

But his family members were not having it especially his younger sister and brothers, they went to Bros's house in Lagos and asked his wife to leave their brothers house and start heading home to her parent’s house in the village before any discussion can begin. Bros sat there and watched them pack his wife and his kids things into a car, and he did not alter a word.

As I am writing, the wife and kids are still in the village they have not been allowed to come back to Lagos, Bros’s family is saying that, over their dead body will their father be put in jail by a stranger, so basically they are saying that the marriage should be broken or annulled that no amount of penalty or fine will appease for their in-law’s wrong doing.

My question is this: in a family who is the rightful person to come for omugwo?
The Husband’s mother or the Wifes’s mother?

he former governor of Central Bank of Nigeria, CBN, and Emir of Kano, Sanusi Lamido Sanusi (Muhammad Sanusi II), has been appointed as the pro-chancellor of the University of Benin, Edo State.
Sanusi received his letter of appointment at his palace on Monday from the Minister of Education, Ibrahim Shekarau. The former CBN boss who raised the issue of the missing money at NNPC, said it is good to always do good.
“I’m saying this because as the governor of the Central Bank of Nigeria then, I came to the rescue of the university by spending N500 million to construct a bridge yearned for by the university for over 30 years.
“If at that time one told me I would reap the reward of that job almost immediately I would not agree, but today, in Allah’s favour, I’m being appointed the pro-chancellor of the university, something that is telling one that he should always think of being good not only to his close people but to everybody far and near,” he said.


http://www.vanguardngr.com/2015/05/jonathan-appoints-former-cbn-boss-emir-sanusi-as-uniben-pro-chancellor/

Special Adviser to the President on Political Affairs, Prof. Rufai Ahmed Alkali has chided the All Progressives Congress, APC, over its recent utterances urging the party to talk less and plan more as the nation moves towards the 29th May inauguration date.
Reacting to the alarm raised by the APC that President Jonathan is running the economy aground before handing over, Professor Alkali said “the allegation is immature, reckless and out of tune with the President’s desire and patriotic commitment to a peaceful transfer of power”.
“Nigerians will recall that shortly after the results of the Presidential elections were announced, President Goodluck Jonathan inaugurated a high powered transition committee to plan and organize a hitch free transition programme for the inauguration of the incoming administration.
Surprisingly, it took the APC more than three weeks to wake up to its responsibility to constitute its own transition committee. How then can they turn round to accuse the government of frustrating the transition programme?

“Since the setting up of the committee, the President and the entire machinery of the Federal Government have been put on the transition mode and all government officers have been giving maximum cooperation to the incoming transition committee”he noted.
He noted that “by the Constitution of the Federal Republic of Nigeria, President Jonathan remains in office up to the 29th of May 2015 when he formally hands over to the incoming President” The machinery of government cannot be put on hold or frozen because the country is in transition,” he said.
On the allegations that government is running the economy aground, Prof. Alkali reminded APC that “governance is a serious business. He further added that with the sudden and unexpected concession of victory to them, it appears that the APC is beginning to face the full reality of managing the great challenges of a complex nation.
“Their recent, frequent and unnecessary attacks on the President clearly shows that they are losing their nerves and are beginning to lay foundation to justify their failures in the near future and we want to remind them that Nigerians are not ready to accept any excuses for their failure. They promised to bring change so they must bring positive change to the well being of Nigerians and urgently too,” he said.


http://www.vanguardngr.com/2015/05/you-cannot-stampede-jonathan-out-of-office-presidency-warns-apc/

Africa’s richest man Aliko Dangote is still interested in investing in English Premier League side Arsenal FC after a failed bid in 2010. Although he denied he was interested in buying a stake in the club at the time, he has now signified interest and claims he has a strategy for investing in the North London club.

Like most fans, Dangote believes the club needs a new direction and would like manager Arsene Wenger “to change his style a bit”. He is not just another businessman who wants more money, but also a passionate fan of the club. Thus, if he makes a move to buy, Arsenal fans are likely to support him. Independent polls have already shown that majority of the club’s supporters think Arsenal need new investment.

However, the richest black man is not going to invest in Arsenal just yet. “I still hope, one day at the right price, that I’ll buy the team,” he said in an interview.

“I might buy it, not at a ridiculous price but a price that the owners won’t want to resist. I know my strategy.”

Dangote will only consider buying Arsenal after he is able to take his company to desired level. As his short-term growth plan, his Group has investments worth $16 billion planned for the next few years.

If Dangote will stand a chance of taking up the ownership status at the Emirates Stadium, he will need to convince Stan Kroenke who holds 66.64 percent stake in Arsenal and 29.11 percent held by Uzbek billionaire Alisher Usmanov and London-based financier Farhad Moshiri through Red and White Sec Limited.

If the Nigerian convinces current owners of the club to sell, he will only be parting with 5.1 percent of his fortune as Arsenal is worth $1.3 billion. While a good offer may be welcomed by Red and White, it is unlikely that Kroenke will be swayed by Dangote’s offer. The American entrepreneur has a two-decade-old interest in sports business. The sports mogul bought his first team in 1995 through his Kroenke Sports Enterprises. He owns six professional franchises, including the National Football League’s St. Louis Rams, NBA’s Denver Nuggets and NHL’s Colorado Avalanche.

Same cannot be said about Dangote, who is known for interests in cement, sugar and flour. He is also investing $11 billion in an oil refinery to be located near Lagos. But his multi-billion dollar investments globally focuses on consumer goods, oil and gas and construction. None of his assets is sports-related. Kroenke’s business is sports and it is the only thing he has more than the African billionaire whose fortune quadruples his own.

Whether Kroenke will give up his stake for a good sum remains to be seen, but like Dangote said, he knows his strategy. He will offer “a price that the owners won’t want to resist”.


http://www.ventures-africa.com/archives/62449

Nigerian military says it has rescued 25 more children and women from Boko Haram as part of its ongoing campaign to attack and destroy the armed group’s camps in the northeast.

Army spokesman Colonel Sani Usman said many Boko Haram fighters were killed in a gun battle on Wednesday morning. One soldier was killed and five others were wounded, Usman said.

Al Jazeera could not independently verify the report.

About 700 children and women have been rescued in the past week as soldiers supported by air raids have deployed on foot into the Sambisa Forest, the last stronghold of Nigeria’s home-grown armed group.

Last week the army said they rescued 293 girls and women from the forest.

It is unclear if those rescued include some of the schoolgirls kidnapped a year ago from Chibok town. Some 219 remain missing

According to human rights group Amnesty International, more that 5,500 civilians have been killed and more than 1.5 million people, including 800,000 children, have fled their homes due to the violence in the country’s northeast.

Boko Haram, designated by the US as a “terrorist” organisation, has been fighting since 2009 to establish sharia law in all 36 states of Nigeria, which is roughly equally divided between a mainly Christian south and a largely Muslim north.


http://www.punchng.com/news/nigerian-troops-free-more-women-children-from-sambisa/

Nobel Laureate, Prof. Wole Soyinka, has denied describing Igbo as people who vote based on their stomach.

Some online media had quoted Soyinka as saying Igbo were politically naive while delivering a lecture titled ‘Predicting Nigeria, Electoral Ironies’ at Harvard University Hutchins Centre for African and African American Research in the United States.

He was quoted as saying “Igbo remained unrepentant and resolute towards their strategic objective of secession at worst; or a Nigerian president of Igbo extraction at best.”

However, Soyinka said in a statement on Thursday that it was unfortunate that people could tell lies against him.

The playwright described those peddling the rumour as morons who have ulterior motives.

He said his entire lecture delivered at Harvard University was recorded on video and anyone who was interested could access it on the Internet.

He said, “I have just read a statement attributed to me on a news outlet, evidently one of the Internet infestations. My lecture at the Hutchins Centre, Harvard University, was video recorded. Anyone who believes what I am alleged to have said must be a slowpoke – repeat, a slowpoke.

“It is demeaning, sickening and boring to have to deal with these cowards who cannot fight their own battles but must fasten their imbecilic pronouncements on others. Only the mentally retarded will credit this comment attributed to me regarding the Ndigbo voting pattern in the last elections.

“I strongly suspect the author of this despicable concoction, and may make a further statement, once the source is verified.”


http://www.punchng.com/news/soyinka-blasts-online-media-denies-insulting-igbo/

A disagreement has broken out between the transition committees of outgoing President Goodluck Jonathan and the President-elect, General Muhammadu Buhari (retd) as the President accused the Buhari team of acting like a parallel government and trying to stampede the Jonathan administration out of office.
Addressing State House correspondents after the Federal Executive Council meeting, yesterday, Minister of National Planning who is also a member of the Jonathan Transition Committee, Abubakar Suleiman, said the Buhari transition team was making impossible demands from the government.
Although he did not specify those demands, he however warned that the President’s magnanimity should not be construed as cowardice.

He said: “We did receive from the transition committee of the in-coming government, some terms of reference which we looked at critically and the Federal Executive Council did agree that Dr. Goodluck Ebele Jonathan remains the current President of this country. The in-coming government should avoid creating a parallel government while the government is still on.
“We take exceptions to some utterances to some of the terms of reference that look as if the current government is being stampeded or intimidated.
“Council frowned at most of the statements. Council members are advised to work in line with the terms of reference of the current government.”
Govt cannot be intimidated
According to the minister, after critically examining the terms of reference of the in-coming government, the government resolved that all agencies of government must continue their duties till the end of the regime, adding that government cannot be intimidated.
He said: “This government remains resolute and committed to the various programmes and projects it’s pursuing and the government will continue to do that until the morning of May 29.
“While Council enjoined members to be steadfast, the President also enjoined members to come out with programmes, projects to be commissioned, that needs to be inspected and that members in council should work as government. They should also perform their work without intimidation and that government, especially civil servants, directors, directors-general should see this government as the current government and not do anything that will rock the boat so as not to put this country in a bad light.
Magnanimity should not be taken for cowardice
“The magnanimity of Mr. President should not be taken to be cowardice and that is why Mr. President and indeed council members enjoined Nigerian people to see the olive branch extended to Nigerians and international community as a way of keeping this country intact, as a way of ensuring peace in Nigeria and as such whatever the outcome of the election, what is important is Nigeria’s national interest. And that national interest should be protected, enhanced and promoted at whatever level we are.”
MDAs have submitted hand-over notes
The minister further revealed that most agencies of government have submitted their handing over reports, noting that “as at April 28, almost all the MDAs that were advised to submit briefs, handing over notes have submitted, and these have been compiled except for one or two ministries.
“The committee is having on ground right now two versions of presentations. We have the executive summaries of all the MDAs hand-over notes and the entire hand-over notes from almost all the MDAs. The transition process is on course in terms of hand over notes and briefs; we have covered almost 80 per cent of our assignments.”


http://www.vanguardngr.com/2015/04/transition-dont-take-jonathans-magnanimity-as-cowardice-jonathans-men-tell-buharis/

The federal Government has agreed to pay oil marketers, their outstanding areas to stop fuel scarcity

Details later…



http://www.punchng.com/news/fg-to-pay-oil-marketers-n156bn-on-thursday/