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Emmysteve's Posts

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BusinessRe: Down, Down Goes Capital Market by Emmysteve(op): 3:00pm On May 23, 2016
It will take over 40yrs to correct the damage Buhari will do to the Nigerian economy after his first term as Prezd. Mark my word!- @Uchez2
BusinessRe: Down, Down Goes Capital Market by Emmysteve(op): 2:57pm On May 23, 2016
Apology to all the zombies. I am sorry for bringing all these disastrous records of your dullard here since assuming office.

Buhari is a disaster.
BusinessDown, Down Goes Capital Market by Emmysteve(op): 2:54pm On May 23, 2016
“TOTAL transactions at the nation’s bourse decreased by 17.87 per cent from N117.27 billion recorded in February to N96.31 in March (2016). In comparison to the same period in 2015, total transactions decreased by 47.66 per cent from the N184.02 re­ corded in March 2015.” This report by the Nigerian Stock Exchange (NSE) is the smmary of the performance of the capital market during the first year of President Muhammadu Buhari administration. According to the CEO of the Exchange, Mr Oscar Onyema, the flagship index, the All Share Index (NSE ASI), declined by 17.4 per cent in 2015 and closed the year at 28,642 points. “This was due to a combination of factors including political risk, currency volatility, and uncertainty in global crude oil prices”, he added. Looking at the sectoral indices,all the market indices performed poorly, particular­ ly when compared with their 2014 performance, except NSE Industrial Index which recorded a marginal increase of 1.3 per cent. The Banking Index was the worst hit as it plunged by 23.6 per cent, followed closely by the NSE 30 Index and NSE Main Board Index, which went down by 17.6 per cent apiece. The market for new equity listings was flat too, with only four new equity listings, one on the Main Board, and three ETFs. In contrast, five companies were delisted in 2015, bringing the number of listed companies and number of listed equities to 184 and 190, respectively. The total volume of equities traded declined through 2015 by 28.8 per cent to N952.8 billion ($4.8 billion), and a foreign and local participation rate of 54.24 per cent and 45.76 per cent, respectively, in total value traded. Average daily turnover was also down by 28.5 per cent. The report on Domestic & Foreign Portfolio Participation in Equity Trading, just released by the Exchange, equally reflects the down­ grade of the nation’s sovereign ratings by international rating agency as ‘monthly foreign outflows outpaced inflows , although the outflows decreased by 40.20 per cent from N31.84 billion in February to N19.04 billion, while foreign inflows increased by 40.77 per cent from N10.94 billion in February to N15.40 billion in March. Recall, that Standard & Poor’s (S&P) during the year revised Nigeria sovereign credit outlook down to negative from stable, B+. S&P noted that the decline in oil prices has hurt Nigeria’s economy, adding that “Ni­ geria’s monetary policy has also weakened the country’s credit profile”. Also JPMorgan Chase & Co. as well as Barclays Plc dropped Nigeria’s bonds from their local-currency emerging market indices. Specialist African funds including Alquity Investment Management and Duet Asset Management also lowered their exposure to the capital market as a result of unclear policy direction. It took several pleas before Index provider, Morgan Stanley Capital International (MSCI), agreed to keep Nigeria in its benchmark frontier-market index after threatening to exclude the country because of the government’s capital controls. ‘MSCI won’t implement changes for Nigerian securities in its benchmarks, in­ cluding the MSCI Frontier Markets 100 Index, in its semi-annual review next month,’ the New York-based index provider said in a statement. It, however, added that the country, would be placed under a ‘special treatment, and some individual stocks that no longer meet MSCI’s criteria may be deleted from the indexes.’ The MSCI is a market-capitalisation-weighted index designed to provide a broad measure of stock performance throughout the world, with the exception of US-based companies. MSCI threatened last month to remove Nigeria from its benchmarks because inadequate liquidity in the foreign-exchange market is making it difficult for foreign investors to buy and sell securities. But Mounir Gwarzo, the Director General of the Securities and Exchange Commission (SEC), said both the Commission and the Nigerian Stock Exchange(NSE) engaged the index provider on how to clarify whatever issues it had against the Nigerian capital market. The SEC boss lamented that the downgrading of Nigeria’s sovereign credit rating by Standard & Poor’s have negative impact on investors’ confidence in the country. His words: “Both we and NSE are talking to them (MSCI). NSE has been talking to them for quite some days. We have also tried to speak with them .We have set up a small group of people who also engage them, tell­ ing them the implications, not only to NSE; not only to the capital market, but to SEC. “We also need to tell them that if they do that (exclude Nigeria), the implication will have multiplying effects. Apart from the economy, it will also affect the status of SEC as board member of IOSCO (Interna­ tional Organisation of Securities Commissions), as the Chairman of AMERC (Africa Middle East Regional Committee) and as a member of executive management of IOSCO because of the repercussions. So we are not taking it lightly. We also think, with the engagements from the regulators, we will be able to clarify whatever issues they might have. “Certainly the Standard & Poor’s (S&P) downgrade can pose some negative implica­ tions in terms of investors’ confidence. The state of the market is not only unique to Nigeria, it is unique to everywhere. Yes, it might reduce confidence of investors. But investors almost everywhere in the world know what is happening”. Commenting on the impacts of Buhari’s administration on the market in the last one year, Pabina Yinkere, an analyst with Vetiva Capital Management Ltd., said: “The government has not come up with a definitive policy for the economy. The continued lack of clarity is affecting the stock market, she said. “While Buhari, has prioritized stamping out corruption, investors have been irked by his support for the central bank’s currency-trad­ ing restrictions that are choking businesses of the dollars they need to pay foreign sup­ pliers. More than two stocks declined for every one that rose. The overall index has plunged more than 21 per cent in the last one year, the most in sub-Saharan Africa after the Zimbabwe Industrial Index”.
www.sunnewsonline.com/down-down-goes-capital-market/
PoliticsRe: Incredibly Accurate Predictions Ayodele Fayose Made In December 2015 by Emmysteve(m): 12:10pm On May 23, 2016
Least we forget same Fayose predicted the emergence of Dogara as house Speaker.
PoliticsRe: Nigeria’s Unemployment Crisis Worsens; Rate Jumps By 518,000 In 3 Months — NBS by Emmysteve(m): 9:11am On May 23, 2016
hucienda:
Na wa oo.. bad news everywhere...

Wailers having a feast while zombies continuing to do what they know how to do best- defend the indefensible... A paradox, Nigeria that is.
LMFAO
PoliticsFG Scores Low On Agric Sector by Emmysteve(op): 3:50am On May 23, 2016
AT independence in 1960, agriculture was the largest contributor to the Nige­rian economy, accounting for about 63 per cent to the nation’s Gross Domes­tic Product (GDP), which is typical for developing agrarian nations.

As at that time incomes were derived from the ex­port of major cash crops like rubber, cocoa, palm oil, cashew nuts, ground­nut and cotton, cassava among others and provid­ed about 70 per cent of ac­tive labour for Nigerians. But from the 2013 rebased figures the agricultural sector contributed 21.97 percent or N17.625 trillion ($112.26 billion) of the to­tal N80.22 trillion ($510 billion). This compares with N14.71 trillion ($93.7 billion) in the old non-re­based estimates for 2013.

With the inauguration of President Muhammadu Buhari administration on May 29, 2015, farmers were optimistic that the agricultural sector would experience the much awaited change, expected to transform the sector.

Though, President Mu­hammadu Buhari, has con­tinued assuring the nation that developing the sector and ensuring food security in the country remained a priority to his administra­tion. One year under the President’s watch, agri­culture has experienced tremendous set back as the prices of farm produce have gradually become out of reach for consumers of fresh tomato, rice and gar­ri among others.

The prices of some ag­ricultural items have sky­rocketed across the major markets in the country.

For instance between 2014 and April 2015, the price of rice was stable in the market even dur­ing the Christmas period, when it sold for N9,000. Today however, a bag of rice is being sold for about N17,000 while one bas­ket of tomato that used to sell for about N4000, to N6000 before is now be­ing sold for N12,000 and a custard plastic of garri that sold for N250, now sells for N750 over night.

However, some stake­holders and farmers who spoke to Daily Sun scored Buhari’s administration a lean 5 per cent in agricul­ture sector, just because of his appointment of Chief Audu Ogbeh as the Minis­ter of Agriculture and Ru­ral Development.

Yet other stakeholders in support of President Muhammadu Buhari in­sist that one year in office was not enough to judge one’s performance. They said the budget has just been approved and that with time Buhari will turn the sector around.

Managing Director of Universal Quest Limited/National Publicity Sec­retary, National Cashew Association of Nigeria (NCAN), Sotonye Anga, said that one thing Buhari administration has done is appointing Chief Audu Ogbeh as the Minister of Agriculture and Rural De­velopment because he un­derstands agriculture.

However, he said the Ministry of Agriculture has not been funded in the last one year, saying the Ministry has not been able to fund any activities or projects because they have not been with money as the budget was not ap­proved on time.

He added: “If you look at it critically, nothing has been achieved in terms of agricultural productivity rather than the Minister putting together the road­map implementation for agriculture and he has been talking to stakehold­er and everybody prefer to work with him to drive growth in the sector. But you cannot drive growth without money. Funding has hampered productiv­ity. In the last one year, food prices have gone high on almost every products.”

Now that the budget has been approved, he stated that agric sector would see a level of improvement, since this is a critical planting season and farm­ers cannot plant without being funded.

He explained that farm­ers have almost lost whole planting season 2016 be­cause of lack of fund but by 2017 there be accelerat­ed and dynamic improve­ment across the agricul­tural value chain.

The Director of Man­field Farms Venture, Mr. Femi Omoboriowo, said that government has not really done much to un­lock the potential in agric sector.



He said however, the proposed 2016 agricul­ture budget at 1.6 per cent shows that the Nigerian government’s budgetary allocations to the sector is yet to met 10 per cent 2003 Maputo Declaration.

According to him, one thing the past administra­tions failed to do was to implement the Maputo Declaration on Agricul­ture and Food Security and the 10 percent na­tional budget allocation to agriculture development.

He explained: “At the Second Ordinary Assem­bly of the African Union in July 2003 in Maputo, African Heads of State and Government endorsed the “Maputo Declaration on Agriculture and Food Se­curity in Africa.

The commitment was to persuade governments to increase spending in the sector to stimulate agricul­tural growth, reduce pov­erty, and build food and nutrition security.

“After the meeting in 2003, a total of 13 coun­tries have met or surpassed the 10 per cent target in one or more years since then and they include Bu­rundi, Burkina Faso, the Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Madagascar, Ma­lawi, Mali, Niger, Senegal, Zambia, and Zimbabwe but Nigeria is yet to join the league.”

He said one of the Bu­hari’s 5-point agenda was to make Nigeria where entrepreneurship thrives, enterprise flourishes and the government gets out of your way so that you can create value, build the economy and aggressively expand wealth that has not happened.

He added that govern­ment should work on pol­icy inconsistence, which has been one of the major problems confronting the sector by encouraging lo­cal content, making sure that values are added to the local produces in other to make them exportable.
http://sunnewsonline.com/fg-scores-low-on-agric-sector/

PoliticsRe: We Are Detaining Fani-kayode With A Valid Remand Warrant - EFCC by Emmysteve(m): 10:02am On May 21, 2016
gwales:
The story that fulani herdsmen killed enugu villagers was a scam. There wasn't any fulani attack but just a script written by pdp and ipads.
Yes, you heard me....
OK we heard you zombie.
PoliticsRe: We Are Detaining Fani-kayode With A Valid Remand Warrant - EFCC by Emmysteve(m): 10:00am On May 21, 2016
There must be an end to everything. Keep on with persecution.
PoliticsRe: NBS: 1.5m Nigerians Became Unemployed In 2016 by Emmysteve(op): 9:29am On May 21, 2016
philipzz:
op it more than that oooo oya zombies come and defend grin
Zombies won't see this one
PoliticsRe: NBS: 1.5m Nigerians Became Unemployed In 2016 by Emmysteve(op): 8:26am On May 21, 2016
If 1.5 million people could lose their jobs within 5 months, then I don't think even if APC succeeded in creating jobs for 500,000 would reduce the unemployment rate in the country. Now are we moving forward or backward as a country. Question for the zombies to answer.
PoliticsRe: NBS: 1.5m Nigerians Became Unemployed In 2016 by Emmysteve(op): 8:16am On May 21, 2016
APC: ALL PROMISES CANCELLED
PoliticsNBS: 1.5m Nigerians Became Unemployed In 2016 by Emmysteve(op): 8:15am On May 21, 2016
The Nigerian Bureau of Statistics (NBS) says another 1.5 million Nigerians became unemployed in the first quarter of 2016.

In its unemployment and underemployment report released on Friday, NBS said the country’s unemployment rate grew from 10.4 percent in the last quarter in 2015 to 12.1 percent.

In the third and fourth quarter of 2015, Nigeria saw about the same number of people become unemployed.

The economically active population or working age population (persons within ages 15- 64) increased from 105.02 million in Q4 2015 to 106.0 million in Q1 2016, the report adds.

“In Q1 2016, the labour force population (i.e. those within the working age population willing, able and actively looking for work) increased to 78.4 million from 76.9million in q4 2015,” NBS said.

“This means an additional 1,528,647 economically active persons within 15-64 entered the labour force i.e. were able and willing and actively looking for work between January 1 and March 31 2016.

“Within the same period, the total number in full time employment (did any form of work for at least 40 hours) decreased by 528,148 persons or 0.97%.

“This consists of people who lost their jobs and were either forced or for various reasons chose to move from full time employment to underemployment.

“Within the same period, the number of unemployed in the labour force, increased by 1,449,18 persons (increase of 518,000 between Q3 and Q4 2015) between Q4 2015 and Q1 2016.”

Youth unemployment also rose to 42.24 percent, as 15.2million youths remain unemployed in the economy.

“Accordingly, out of a total youth labour force of 38.2 million (representing 48.7% of total labour force in Nigeria of 78.48mn), a total of 15.2mn of them were either unemployed or underemployed in Q1 2016 representing a youth unemployment rate of 42.24%.
https://www.thecable.ng/nbs-another-1-5m-nigerians-become-unemployed-2016

PoliticsRe: Kano Government Sponsored Pro-Deregulation Rally Ends In Fiasco by Emmysteve(m): 7:32am On May 21, 2016
Politics of deceit and bitterness gone wrong. God punish APC and their zombies. APC is a disaster
PoliticsRe: Breaking News: Another Chibok Girl Rescued (pic) by Emmysteve(op): 7:31am On May 21, 2016
DONMAYOR19:
all the girls must complete before may 29th o
Yessoo. But the script is poorly written
PoliticsRe: Breaking News: Another Chibok Girl Rescued (pic) by Emmysteve(op): 5:04am On May 21, 2016
knightsTempler:
Let bubu send the presidential jet to ferry her to Aso villa for a photo shot...but wait oh doesn't this one have a BH husband?
I gathered she has. The army are about making serious efforts to fly the two of them to Abuja to meet the mr fresident. Lmfao useless and confused Government.
PoliticsRe: Breaking News: Another Chibok Girl Rescued (pic) by Emmysteve(op): 11:51pm On May 20, 2016
Buhari is working.
PoliticsBreaking News: Another Chibok Girl Rescued (pic) by Emmysteve(op): 11:46pm On May 20, 2016
grin

PoliticsRe: PHOTOS: NLC Protesting In Lagos Today by Emmysteve(m): 1:48pm On May 19, 2016
I feel sorry for this zoo of a country. I saw a headline yesterday that all the 14 APC state refused to comply. Just imagine
PoliticsRe: PHOTOS: NLC Protesting In Lagos Today by Emmysteve(m): 1:45pm On May 19, 2016
googlepikins:
Am sorry for lagos state workers, when they will have problems and cry to labour for help, Labour will say gerrarahere!!
allow the zombies to keep suffering themselves in the name of party affiliation. Suffering and Smiling.
PoliticsRe: FG To NLC: Return To Negotiation Table by Emmysteve(op):
I thought agreement has been reached with the Ajaero abi na Ojoro faction. Lmfao confused government.
PoliticsRe: Hashimu Suleiman Reacts To Fuel Subsidy Removal by Emmysteve(m): 4:18am On May 19, 2016
Bring back his trek
PoliticsRe: Burantashi On His Way To International CRIMINAL by Emmysteve(m): 4:17am On May 19, 2016
BURANTASHI IS THIS MAN'S REAL NAMEhuh
PoliticsFG To NLC: Return To Negotiation Table by Emmysteve(op): 4:15am On May 19, 2016
The Federal Government on Wednesday said it was prepared to reopen negotiation with the Nigeria Labour Congress (NLC) over the fuel price hike.
The Minister of Labour and Employment, Senator Chris Ngige, said in a statement on Wednesday night that the strike action called by the NLC to press for the reversal of fuel price will neither earn more money for the government or repair the refineries.

He, however, debunked claims by the leadership of the NLC that government did not consult the union before announcing the new pump price, adding that government and labour met twice on the issue with organised labour offering its own suggestions on the template presented by the Minister of Petroleum.
Ngige appealed to the NLC leadership led by Ayuba Wabba to return to the negotiating table, saying he has obtained the mandate of the government negotiating team to reopen negotiation with them.
The statement reads: “The Honourable Minister of Labour and Employment, Sen. (Dr.) Chris Nwabueze Ngige is constrained to respond to a number of issues which were raised today (Wednesday) by the President of the Nigerian Labour Congress, Comrade Ayuba Wabba, after he led the NLC to withdraw from the negotiation between the Federal Government and organised labour on Tuesday, May 17, 2016.
“It is instructive to note that most Nigerians have shown great understanding of the fact that the current problem is not a subsidy removal issue, but how to deal with the non-availability of foreign exchange, a situation that leaves the federal government with no other choice than to deregulate the downstream of the petroleum sector which resulted in rise in pump price of petroleum.
“In view of the above, the federal government is fully committed to the quick implementation of the palliatives in the 2016 budget, while developing other ways to alleviate the sufferings of Nigerians.
“The federal government appreciates all the important issues raised by the labour unions and has taken them into consideration. Government is resolute in making sure that the economy is not only strong, but able to provide jobs and opportunities for all Nigerians.

“The federal government went to court to seek an injunction restraining labour from embarking on strike because there is a clear process of declaring labour strike under the law. It is therefore the view of government that those processes were not complied with before the NLC called the strike.”
www.thenationonlineng.net/fg-nlc-return-negotiation-table/
PoliticsRe: Lawal Criticizes Kachikwu For Shaking Hands At FEC Meeting by Emmysteve(m): 1:53pm On May 18, 2016
Those supporting increase in price of PMS are in chain - Senator Shehu Sani.
PoliticsRe: NLC Protest Ongoing In Beere Ibadan (Photos) by Emmysteve(m): 12:47pm On May 18, 2016
Goo
PoliticsRe: No Work, No Pay, FG Tells Workers by Emmysteve(op): 8:29am On May 18, 2016
seunmsg:
NLC and TUC should respect the decision of the industrial court and shelve the planned strike. Negotiating with the government is what will bring about a meaningful solution and not an indefinite strike that can't be enforced due to the division in NLC leadership.
Which useless and senseless industrial court? Tell me what happens after dullard has rubbished several court orders and expect others to obey a Kangaroo court?
PoliticsRe: No Work, No Pay, FG Tells Workers by Emmysteve(op): 11:11pm On May 17, 2016
Welcome to authoritarian system of government led by the dullard himself. The dullard displaying his true color.
PoliticsRe: No Work, No Pay, FG Tells Workers by Emmysteve(op):
Game on

POLL: click LIKE if you think Buhari is a tyrant and SHARE if you think he is dictator.
PoliticsNo Work, No Pay, FG Tells Workers by Emmysteve(op): 11:07pm On May 17, 2016
The federal government has directed all ministers, permanent secretaries and heads of government agencies to invoke the provision of “no work no pay” in respect of workers who participate in the planned strike by a faction of the Nigeria Labour Congress (NLC).

Babachir David Lawal, secretary to the government of the federation, gave the directive on Tuesday, advising workers to shun the exercise in their own interest.

Lawal also called on security agencies to beef up security and ensure that protesters do not prevent workers from gaining access to their offices.

“The attention of all public officers is drawn to the notice issued by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to embark on an indefinite strike from Wednesday, 18th May, 2016,” he said in a statement.

“This notice is regrettably given in spite of an order by the industrial court against the strike action. Government, therefore, calls upon and advises all workers to respect the laws of the land and to desist from participating in an illegal strike action.

“Government undertakes to guarantee the safety of workers and their work places, and expects that normal work will continue in the interest of the nation. Accordingly, security agencies have been directed to ensure unimpeded access to offices, work places and markets.

“Acts of intimidation, harassment, including barricading of gates, locking up of offices, blocking of roads and preventing workers from carrying out their lawful duties will be met with appropriate response by the law enforcement agencies.

“​All workers, whether in public or private sector are further reminded of the Trade Dispute Act, 2004, which provides that ‘where any worker takes part in a strike, he shall not be entitled to any wages or remuneration for the period of the strike and any such period shall not count for the purpose of reckoning the period of continuous employment and all rights dependent on continuity of employment shall be prejudicially affected accordingly.

“​Accordingly, all ministers, permanent secretaries and heads of government agencies are hereby directed to invoke the provision of ‘no work no pay’ in respect of any staff who absents him or herself from work to join the strike action. Attendance registers are required to be opened in all Ministries, Departments and Agencies.”

While the Joe Ajaero-led faction says it will stay away from the exercise, Ayuba Wabba has vowed to mobilise people to protest the increase in the pump price of petrol.

Earlier on Tuesday, Babatunde Adejumo, president of the National Industrial Court, had ordered NLC to suspend action.

The judge gave the ruling following a suit filed by Abubakar Malami, attorney-general of the federation (AGF).

Adejumo ordered parties to maintain the status quo until the hearing and determination of the exparte motion.

He also directed the government to dialogue with the NLC towards an amicable resolution of the dispute.
https://www.thecable.ng/no-work-no-pay-fg-tells-workers
PoliticsRe: FG And Labour Set Up Committee To Review Fuel Price And Minimum Wage by Emmysteve(m): 10:38pm On May 17, 2016
Ojoro faction giving hope to zombies. Meanwhile its 1hr 30 mins to go #IStandWithNLC
PoliticsRe: Poll: Should The Strike Go On? Yes Or No by Emmysteve(m): 9:34pm On May 17, 2016
OP are you Dino Melaye that said he would open register for people to sign before taking it to the president after shamelessly giving 7 day ultimatum?
PoliticsRe: Fuel Hike: ASUU Declares Nationwide Strike by Emmysteve(m): 9:29pm On May 17, 2016
Lets observe one minute silence for all the zombies because they would never like this.

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