₦airaland Forum

Nigerian banking stocks slumped the most since June 2016 a day after the re-election of President Muhammadu Buhari, as some investors showed disappointment at the defeat of his market-friendly opponent.

An index of Nigeria’s 10 largest banking stocks dropped 4.6 percent by the close in Lagos Thursday, while the country’s benchmark stocks index retreated for a third day.

The Lagos market’s biggest laggers by index points were Guaranty Trust Bank Plc, which dropped 6.9 percent, Zenith Bank Plc, which fell 4 percent and Nigerian Breweries Plc, down 4.5 percent
“We are seeing investors react negatively in the short term” to the election results, Olabisi Ayodeji, an analyst at Exotix Capital, said from Lagos.

Buhari easily won a second term as president of Africa’s biggest oil producer with promises to revive an anemic economy and tackle security
threats including a devastating insurgency by Islamic State. His main opponent, Atiku Abubakar, who was seen as favored by investors, has rejected the results of the weekend vote.


"The legal challenge to last weekend’s vote promised by his main rival, Atiku Abubakar, is the least of his worries. Add to that a listless economy, Islamist State attacks wreaking havoc in the northeast and an explosive cocktail of worsening poverty and rapid population growth," Bloomberg stated in a recent article.


The 76-year-old former general came to power in 2015 on a wave of optimism after becoming Nigeria’s first opposition leader to win at the ballot box, with promises of fighting endemic corruption and ending the economy’s addiction to oil. So far, progress has been slow.

“President Buhari can expect an even briefer honeymoon than he did in 2015,” said Matthew Page, a former U.S. State Department specialist on Nigeria, who’s based in Cambridge, U.K. “Unless Buhari experiences an epiphany and adopts a more dynamic, reform-minded, and business-friendly strategy, we can expect Nigeria’s socioeconomic situation to stagnate during his second term.”

In his first four years, Buhari was a strong proponent of a statist economy. He called on the central bank not to let the naira weaken and made clear he disagreed with the pledges of multimillionaire Abubakar to privatize inefficient and loss-making oil refineries and the Nigerian National Petroleum Corp., which dominates the local energy industry.

His administration’s drive to clean up business practices brought him into conflict with some foreign companies. South Africa’s MTN Group Ltd. is fighting claims that it owes $2 billion of backdated taxes, which have dragged its shares down. And the government is suing firms including JP Morgan Chase & Co. and Royal Dutch Shell Plc in Europe for what it says was a corrupt oil deal in 2011. All companies deny the allegations.

http://www.todaysecho.com/business/buharis-victory-sparks-fall-in-bank-stocks-unprecedented-since-2016/

Green Book has been named best picture ahead of Black Panther, during an Oscars ceremony that lacked a host but was filled with diversity and historic wins.

Black Panther won in 6 categories, including Best Picture at the SAG Awards, eliciting hopes that the comic adaptation could also win at the Oscars

Green Book, the feelgood comedy drama, starring Mahershala Ali and Viggo Mortensen and directed by Peter Farrelly, had been dogged by problems during awards season, and some people have questioned the veracity of its supposed true story, about the friendship between pianist Don Shirley and his chauffeur Tony Lip.

Ali also took home the award for best supporting actor, dedicating his win to Shirley, whose family have come out against the film’s portrayal of him. The actor, who also won for Moonlight in 2017, has become the first black man to win the best supporting actor award more than once. Green Book also won the Oscar for best original screenplay.



Roma, the intimate Netflix drama that many had predicted would make Oscars history as the first foreign-language best picture winner, took home three awards, including best director for Alfonso Cuarón. Cuarón’s younger years inspired the film, which tells the story of a domestic worker’s relationship with the family who employs her. “As artists, our job is to look where others don’t,” Cuarón said. “This responsibility becomes even more important at times when we are told to look away.”

Roma became Mexico’s first winner for best foreign language film, while Cuarón also picked up the award for best cinematography. The night was also a game-changing moment for Netflix, containing their biggest Oscar wins to date.

In the night’s other big shock, predicted best actress winner Glenn Close lost out to Olivia Colman for her role as Queen Anne in Yorgos Lanthimos’s dark comedy The Favourite. “It’s genuinely quite stressful,” she said, arriving on stage. “This is hilarious – I’ve won an Oscar!” She thanked co-stars Rachel Weisz and Emma Stone, naming them “the two loveliest women in the world to go to work with”. Despite The Favourite entering the night with 10 nominations, it was the only award given to the film.

See the full list of winners here: http://www.todaysecho.com/oscars-green-book-wins-best-picture-ahead-of-black-pantherfull-list-of-winners/

Once again, Nigeria is at the crossroad of history. President Muhammadu Buhari, who broke history as the first opposition figure to unseat a ruling party through the ballot box, is battling to prevent the return of a resurgent PDP; the party he defeated four years ago.

There have been several polls and analyses, including one from Today’s Echo that clearly predicted a win for Atiku Abubakar. The write-up on this publication mentioned brand appeal, party cohesion, and the backing of the international community and former presidents as some of the factors that will guarantee an Atiku win.

What many analysts and citizens fail to realize is that this election is not about Buhari and Atiku, neither is it between APC and PDP. It is between two different ways of doing things. To be succinct; it is between an old, familiar order and a new one that many Nigerians still find difficult to adjust to. This article does not in any way aim to promote Buhari, nor does it excuse some of the misdemeanours of this government, but to describe how things have changed and why it has been difficult for us to change with them.

Before things get better in an already flawed system, they will first get worse. For a long time, the most common method of wealth distribution in Nigeria was through a network of allies and family members in a largely informal manner, creating a black economy that is opaque to scrutiny and promotes nepotism at all levels. This has put pressure on highly-placed government workers to misappropriate funds to satisfy their dependencies, who in turn pump the money back into the economy by patronizing other businesses. A young man without a job for instance, but who has a corrupt relation can live large in this economy and even stimulate the growth of some businesses with his patronage.
This kind of economy is unsustainable and cannot lead Nigeria to self-dependency. It encourages consumerism and is susceptible to external forces, which is why the economy nosedives every time oil prices go down.

When the APC came into power, one of the first things to be implemented was the Treasury Single Account(TSA), which centralizes government revenue and accounting in a way that opens it up for scrutiny. This is one of the greatest threats to the old system of doing things. TSA plugged leakages and made it almost impossible to steal from the treasury. This blocked the magnitude of extra-income for many public officers and forced them to cut down drastically on spending. It also made it difficult for the private sector to bribe public officials. The processes for contracts and licences have become more transparent and this government has produced a new crop of billionaires by merit instead of the briefcase businesses that we saw thriving under the past regimes.

The second thing the government did was to go after past officials that have been involved in fraud. It is only natural that most of the victims would be from PDP; a party that was in power for 16 years. It is also natural that this will have a significant impact on the economy. In the early days of the administration, the economy was plunged into a recession that was caused by many factors including falling oil prices. This was after several years of oil boom under previous PDP regimes. What made the recession worse was the shortage of dollars in the system. As government cracked down heavily on corrupt officials and businessmen, those that had previously stolen huge sums of money and had converted it to dollars refused to spend out to their loot in fear of being hounded for corruption. This is a clear case of corruption fighting back.

Let us get the facts straight; It is true that this government has presided over one of the worst recessions in Nigerian history, but it is also true that it is taking Nigeria out of it. As statistics show, the Nigerian economy has been growing since late 2017. The growth rate is slow, but its climbing steadily. Latest data from the Nigerian Bureau of statistics indicate that growth rate increased to 2.38 per cent in the last quarter(Q4) of 2018 from 1.81 in the Q3 of the same year. The Nigerian economy is also outperforming international media projections. For instance, Bloomberg’s projection for Q4 2018 was 2.10 per cent.

Although it will take a little more time before the effects of these improvements are felt significantly on the streets, we are beginning to see the signs in the rush for employment by corporate organizations at the beginning of 2019. It is just unfortunate that the time when the economy is just picking up has coincides with the elections. With a little patience, Nigerians will soon start enjoying the dividends of a resurgent economy.
It is pertinent to note that I have opted not to use Buhari in my above analysis but use government instead. The biggest problem Nigerians have against Buhari is his personality. Many have used words like austere, aloof, uncharismatic, unintellectual, conservative and rigid to describe the man, who spent several months in and out of the hospital. People say he allowed himself to be controlled by a nepotistic, kleptocratic cabal. This is just an allegation that cannot be proven. What is obvious is that Buhari has left the operation of the economy largely in the hands of a highly efficient deputy called Yemi Osinbajo.

The beauty of democracy is that everything does not have to be in the hands of the president. We are already used to personality-focussed democracy. What is emerging right now is a democracy focussed on building institutions rather than people. Is it not a good thing that Buhari does not interfere with the running of the party, the Independent National Electoral Commission (INEC), and even the Economic and Financial Crimes Commission (EFCC).

The Buhari regime has its security flops and I believe the government must be regretting some of its actions and inactions. It is true that things have deteriorated in some cases. However, things have gotten a lot better in many cases. In 2015, Boko Haram held 17 Local governments across three states. Today, they are not presiding over any. Also, armed robbery has reduced in the urban centres. One of the issues that caused a dent on the image of the government was the poor handling of the farmers-herdsmen clashes in 2018. It is pertinent to note that the framing of reportage by bloggers and some media outfits aggravated the crisis, making it seem like the government supported one side. Since August, 2018, cases of herdsmen attacks have become quite rare.

With his genius, Osinbajo spearheaded what will go down as one of the most economic recovery projects in Nigerian history if allowed to completely unfold. Through the Economic Recovery and Growth Plan(ERGP), the economy is gradually coming back. Latest reports from both NBS and the World Bank indicate that the diversification policy of the government is working as the non-oil sector now contributes a bigger quota to the economy. In Q4 2018, non-oil sector grew by 2.7 per cent against 0.76 per cent in Q1 2018. Recession is bad everywhere and would have been worse in Nigeria without pro-active moves from the government; Venezuela is a classic example.

Osinbajo and his economic team have helped to cushion the effect of recession by implementing a massive, innovative set of Social Investment Programmes (SIPs), which include the National Home-Grown School Feeding(NHGSF), Tradermoni, N-power and Conditional Cash Transfers.

Through Tradermoni and its brother, Marketmoni, the Federal government has provided soft, non-collateral loans that can be paid back in bits to over 1.1 million traders and artisans. Under the NHGSF provides jobs for 95,422 cooks, who feed about 9.4 million pupils in 49, 837 schools across the country. Under the N-power scheme, 500,000 youths have been provided internship placements with government stipends in various sectors including construction, education and technology. Under the CCT, the government has spent N15 billion on N1.8 million vulnerable women across 20 states, enhancing the livelihood of 326,000 households.

If you are highly placed, or upwardly mobile, you may not be a beneficiary of these programs because they are not for you. With time, everybody benefits but it is only fair that the most vulnerable in the society benefit first.

This bottoms-up approach to governance is alien to us and differs from the top-first, trickle-down approach we are used to. This election is, therefore, a choice between the two different systems of doing things. We can go back to the old system that rewards the big guys on whose generosity the poor rely? We can also stick to the new, more sustainable system that gives first to the less privileged.

http://www.todaysecho.com/2019-presidential-election-a-case-for-buhari-osinbajo/

Dayo Ifayemi writes from Ibadan

The Senate President and Director of the Atiku Abubakar’s presidential campaign, Bukola Saraki has accused the ruling All Progressives Congress(APC) of plotting to postpone the presidential election rescheduled for February 23.
Saraki, a prominent chieftain of the PDP spoke during a meeting of the PDP National Executive Committee(NEC) at its National headquarters on Monday. The party’s presidential candidate, Atiku Abubakar and National chairman, Uche Secondus were among prominent party members present at the meeting.
“We know all that drama you saw yesterday, all the Nollywood caucus meeting of APC yesterday, was because they are looking for another postponement. They don’t want election to hold on Saturday,” Saraki said

Watch the video here: http://www.todaysecho.com/apc-held-caucus-meeting-because-they-want-another-postponement-saraki/

Nigerians head to the polls on February 16, 2019 to vote for the presidential candidate of their choice. Despite optimistic conversations about choosing from a new crop of politicians, Nigerians realistically have only two major options available. The battle is between President Muhammadu Buhari of the All Progressives Congress (APC) and former Vice President, Atiku Abubakar of the People’s Democratic Party (PDP).

Although both candidates come from the North and are septuagenarians, they are different in almost everything else. Buhari is a socialist-oriented conservative who believes in government frugality while Atiku is a liberal capitalist, who favours free market policies. They also have different support bases: Buhari has his stronghold in the North-West and North-East while Atiku is more popular in the South-South and South-East.

One year ago, it would have been easy to conclude that Buhari would be re-elected for a second term but the political calculations have shifted a great deal since the businessman-politician from Adamawa emerged the PDP candidate in October 2018.
Current realities indicate that the two contestants are neck to neck in the contest, which makes this probably the most difficult election to predict in the history of Nigeria.

Today’s Echo examines the 10 major factors that will determine who emerges winner after February 16.

1. Branding
Both candidates have created different themes for their campaigns and have consistently pushed their messages to Nigerians. However, the question remains, which brand has more distinctly communicated its benefits to the Nigerian people?
Buhari’s campaign slogan; ‘Next Level’ resonates well with those who are already supporters of the government. A lot of people believe the government has made significant efforts and therefore, it is time to step things up to the next level. However, statistics and reality have shown that the economy has been in bad shape for the past three years.

Atiku’s campaign slogan ‘Get Nigerian working again’, depicts that all is not certainly well but he is the person who can fix things. His brand also relates with his unique selling points, which are his business experience and liberal disposition.
Atiku’s branding resonates better with those who are not already supporting a particular candidate. This opens up the population of Nigerians who are dissatisfied with the current situation but are not sure who to vote for. To reach this demography, made up majorly of young people, Atiku’s campaign team have been using the Social media. This is probably why his campaign seems to be increasing in momentum.
Verdict: Atiku’s campaign has stronger branding

2. Popularity
It is very difficult to really gauge how popular the two candidates are, especially outside their strongholds. Both of them have been campaigning across the country with huge crowds at their rallies. We have however, seen a shift in response to campaigns by the PDP in recent times, especially in certain areas perceived as APC strongholds. The huge crowd at the Kano rally is a good example.
A Buharimeter poll conducted by the Centre for Democracy and Development (CDD) in May 2018 reveals that 40 percent of Nigerians approved of the President’s performance; a decline of 17 percent from 2017. Nevertheless, some presidents in the United States have won re-election with lower ratings. The opposition has also grown in popularity since May 2018 and this is reflected in several recent online polls in which Atiku has defeated Buhari. In a presidential poll conducted by Today’s Echo on its website, 38 per cent of respondents say they are voting for Atiku while 28 per cent say they are voting for Buhari. 34 per cent of the respondents say they are voting for the other candidates.
Verdict: From our observation, Atiku is slightly more popular.

3. State Apparatus
The influence of state institutions is a vital determining factor of elections in Africa. This is clearly an advantage for President Muhammadu Buhari. In Nigeria, past incumbents have won elections partly because they control state institutions, including the military, police, and other law enforcement agencies. This is because of the tendency for people to withdraw in the face of harassment by state forces. Even when they have not been deliberately deployed to harass the opposition, certain members of these state agencies feel it is their duty to protect the incumbent. The degree to which they determine the course of election will be determined by how the government use them. Hopefully, Democracy has grown to the level where state institutions are not deployed to significantly influence elections.
Verdict: Buhari clearly has an edge here.

4. Party Cohesion
The extent to which a party is cohesive and organized is a vital determining factor of its success in elections. Internal strife within the PDP contributed to Goodluck Jonathan’s loss in the 2015 presidential election.
As at May 2017, it was difficult to believe the PDP would even have a chance to give APC a fight. Things have changed since July 2018 when the party held a national convention and chose Uche Secondus as its National Chairman. The party has been experiencing more cohesion since then.
The opposite has been the case for APC, which has been battling with crises since the emergence of Adams Oshiomole as National Chairman. First was the gale of defections which swept many prominent politicians including Abubakar Atiku, Bukola Saraki, Rabiu Kwankwaso and Aminu Tambuwal to the PDP. Next was the multitude of crises arising from the chaotic gubernatorial primaries. Several APC state chapters including Zamfara, Imo, Ogun, and Rivers now have bitter internal crises that have jeopardised the chances of the party in the governorship elections. Between the candidates, who benefits from these crises in the APC? Your guess is as good as ours.
Verdict: Atiku!

5. Money
Money is a vital factor in election because it is used to obtain resources for the mobilization of electorate. It can also be used in vote buying and bribery of election officials. The two candidates seem to be balanced in this.
Being the incumbent, Buhari and the APC have access to state resources but his austere personality may however, create a restraint on the use of those resources. However, he is supported by several APC governors, including in Lagos, which has the largest internally-generated revenue.
Atiku is one of the richest men in the country and can easily mobilize considerable resources. He is also supported by 15 PDP governors, including some from oil-rich states. Money has not been an issue for both parties.
Verdict: draw

6. International Community
Key pronouncements from international bodies and Western figures are results of close observations on Nigeria and may influence the outcome of elections. Towards the 2015 presidential elections, many international media agencies correctly predicted the emergence of Buhari.
Although, International institutions and Western countries have explicitly declared their neutrality in the 2019 election, the body language of some Western institutions indicate a careful and quiet condemnation of the government. This does not mean they support the opposition directly but that they are more optimistic about regime change than the continuation of the incumbent.
The international community, including the United Kingdom and the United States, recently expressed concerns over free and fair elections in Nigeria when President Buhari abruptly suspended the Chief Justice, Walter Onnoghen, who is facing corruption charges after accusations he did not disclose his assets, including several foreign bank accounts.
According to the Economist Intelligence Unit(EIU), the research arm of the Economist magazine, a general election on February 16th is expected to yield a change in government, implying that Atiku will win.
In September 2018, before Atiku emerged as a major contender, London-based HSBC released a report, saying Buhari’s second term poses risk to Nigeria’s economic development.
According to HSBC, “a second term for Mr. Buhari raises the risk of limited economic progress and further fiscal deterioration, prolonging the stagnation of his first term, particularly if there is no move towards completing reform of the exchange rate system or fiscal adjustments that diversify government revenues away from oil.”
The ruling party’s want of support from key international entities is reflected in its aggressive reactions to statements emanating from outside the country. Highly inciting utterances from prominent party members, like El-Rufai’s ‘body-bags’ comment are also clear indicators. The ruling has also kicked against the composition of foreign observers, accusing some of them of affinity with Olusegun Obasanjo.
Verdict: Atiku clearly leads here.

7. Elite Support
Support from Nigeria’s elite is another crucial factor in determining who carries the day. Former presidents, religious leaders, retired military generals, academic elite, and business leaders have vested interests in various facets of the country. Both Buhari and Atiku have their fair share of support from the elites.
Former presidents, including former dictator, Ibrahim Babangida, Olusegun Obasanjo and Goodluck Jonathan have pitched their tents with Jonathan. Yakubu Gowon, and Abdulsalami Abubakar who heads the Peace Forum have declared their neutrality. For Buhari, a group of retired generals including former Lagos State military administrator, Buba Marwa have endorsed him.
Socio-cultural organizations, made-up of elderly elites from an ethnic group, have also endorsed either Buhari or Atiku. The Afenifere from the South-West have endorsed Atiku, the Ohanaeze from the South-East have also done same. Buhari retains the support of the Northern Arewa Consultative Forum(ACF). Meanwhile, Buhari has not gotten enough support from elites in his Northern base as expected.
Verdict: Atiku has more elites behind him

8. Corporate Nigeria
Corporate Nigeria is the main provider of employment in the country and the driving force behind Nigeria’s economy. The support of key business figures is therefore, vital in the outcome of elections. Although most companies seem to favour Atiku’s proposed policy of free economy because it is good for business, key business figures are also behind Buhari.
Powerful businessmen who support Buhari include Africa’s richest man, Aliko Dangote, and billionaire founder of Forte Oil, Femi Otedola.
Atedo Peterside, former Chairman of IBTC recently wrote a commentary on a presidential poll conducted by the ANAP foundation, which he founded, for the NOI, West Africa's first country-specific opinion survey firm.
According to Peterside, “That PMB actually had an overall lead in our polls is cold comfort for his supporters because further analysis confirms that only approximately one third of the electorate nationwide claimed to be certain to back his candidacy,” he wrote, adding: “Atiku was lagging behind PMB but the fact that the Undecided votes are concentrated outside the two zones where PMB is strongest (NW & NE) must give Atiku cause to believe that PMB’ s lead might not be unassailable after all.”
He also said that contrary to Buhari’s economic ideology, it is not the plugging of Government sector leakages that really jumpstarts economic activity. Rather, it is the institutionalization of an enabling business environment that stimulates all-round business confidence and new investment activity from the private sector that generates economic growth.
Verdict: Corporate Nigeria favours Atiku

9. Governors
Governors are the lifeblood of political parties. They mobilize people from their territories and provide resources to support political campaigns. Both the PDP and APC have their own governors, although APC has more. However, one dangerous trend with APC is a situation where a governor is supporting his party for the presidential election but throws his weight behind the gubernatorial candidate of another party. Such is the case in Ogun and Imo States. Issues got dramatic recently at the Ogun State APC rally when supporters of the governor, Ibikunle Amosun threw water bottles at the president and the National Chairman of the party.
Verdict: Buhari has more governors

10. Religious Leaders
Religious leaders are highly respected figures with hordes of followers who take their pronouncements seriously. Both Atiku and Buhari have their own share of support from religious figures.
Key Muslim figures including the head of the Muslim Rights Concerns(MURIC) have endorsed Buhari. Atiku is also not lacking in endorsement from Muslim figures, with vocal support from prominent leaders like Sheik Gumi.
Christian leaders have also thrown their weights behind each candidate. Christian leaders explicitly supporting Atiku include David Oyedepo of Winners Chapel, Johnson Suleiman of the Omega Fire Ministries and David Ibiyomie of Dunamis. Recently, Tunde Bakare of the latter rain Assembly and a long-time ally of Buhari has castigated his government for its insensitive stance on the Fulani herdsmen attacks. Buhari has his own support base within the Christian community. The Vice President, Yemi Osinbajo is a pastor from the powerful Redeemed Church but Pastor Adeboye has decided to be silent about politics. However, radical Catholic priest, Father Mbaka has been vocal in his support for the president. Lastly, the Shiites, under the umbrella of the Islamic Movement of Nigeria (IMN), are no friends of the president, having faced persecution and oppression from his government.
Verdict: Overall, Atiku seems to have more support of leaders from both major religions.

Conclusion
Just like several international media outfits, we think Abubakar Atiku will win this one. Out of 10 factors we have analysed, he clearly leads in 7.


**To be continued

American actor, singer and songwriter, Donald Glover, who is more known as Childish Gambino stole the show at the 61st Grammy awards ceremony on February 10 with four awards, and he didn’t even show up.

Childish Gambino won Record Of The Year for “This Is America.” The track also won Song Of The Year, Best Music Video and Best Rap/Sung Performance.
Childish Gambino also made history at this year’s Grammys with hip-hop’s first ever wins in the song of the year and the record of the year categories.
“No matter where you’re born or what country you’re from, you connect with ‘This Is America,’” said producer Ludwig Göransson during his acceptance speech on Gambino’s behalf. “It speaks to people, kind of right to your soul; It calls out injustice, celebrates life and reunites us all at the same time.”
Göransson also went on to thank a number of people throughout the industry including rapper 21 Savage “who should be here right now.” The statement was the only one of its kind of the evening, coming on the heels of recent news alleging that 21 Savage was detained by the ICE for overstaying a visa.
Hip-hop dominated this year’s record of the year nominees, which featured the likes of Cardi B, Bad Bunny and J Balvin’s “I Like It” alongside Drake’s “God’s Plan,” Kendrick Lamar and SZA’s “All The Stars,” and Post Malone’s “Rockstar,” featuring 21 Savage. Also in contention was Brandi Carlile’s “The Joke,” Lady Gaga and Bradley Cooper’s “Shallow” and Zedd, Maren Morris and Grey’s “The Middle.”

See the full awards list here: http://www.todaysecho.com/breaking-childish-gambino-steals-the-show-at-the-grammys-doesnt-show-up/

Former Minister of Aviation and prominent PDP chieftain, Femi Fani Kayode(FFK) has accused the ruling APC for practicing witchcraft after the party erected giant brooms in Abuja ahead of the February 16 presidential election.

“They have erected a giant broom at Unity Park near Transcorps Hilton in the centre of Abuja and another one directly in front of the city gate. The broom is the symbol of the ruling APC and a symbol of witchcraft. They are invoking dark forces to stay in power but they will fail,” FFK said in a statement available to Today’s Echo

“They are sick in mind, spirit and soul. The only thing that fuels and invigorates them is the commission of atrocities and the shedding of innocent human blood. They are nothing but evil vampires and, like satan, they came for one purpose alone: to kill, steal and destroy,” FFK also said

http://www.todaysecho.com/symbol-of-witchcraft-ffk-blasts-apc-as-it-erects-giant-brooms-in-abuja/?

As the 2019 presidential election in Nigeria approaches, the political landscape is increasingly dramatic as the major players gear up for a thrilling contest. It is estimated that about 55 candidates will participate in this election. However, the two major parties remain the All Progressives Congress (APC) and the People’s Democratic Party (PDP)
President Muhammadu Buhari of the APC has ruled the country for three years, after defeating the incumbent, Goodluck Jonathan of the PDP in the 2015 presidential election. It was the first time the PDP would lose power since 1999. Buhari is seeking re-election for another four years.
On Sunday, October 7, 2018, the main opposition party, PDP picked a candidate; Atiku Abubakar, who is a former Vice President and a renowned businessman. Atiku had also contested with Buhari for the APC ticket in 2015 and lost.
Despite its large hydrocarbon resources, Nigeria is still a third world country with poor infrastructure, widespread poverty and prevalent unemployment. Statistics are difficult to obtain in Nigeria and elections are hardly won by issues and ideology but rather more by a combination of several factors, including ethnicity, religion, and mobilizing capacity.
As Buhari and Atiku face off in a battle for the reins of Nigeria, Today’s Echo examines how Nigerians will vote and the issues that will determine the winner in this thrilling contest.

http://www.todaysecho.com/todays-echo-exclusive-how-atiku-may-win-the-2019-presidential-election/

Cash strapped university students are being paid as much as £3,500 to be infected with dangerous tropical diseases including typhoid, malaria and pneumonia.
The UK students are among a growing number of healthy volunteers being paid to be infected with exotic bacteria and viruses for scientific research at institutions including Oxford University and Imperial College London.
The UK is a world leader in the study of infectious diseases and the experiments – known as “challenge trials” where human guinea pigs, mainly students, are “challenged” with an infectious disease – have become a popular way to progress the development of new vaccines at a fraction of the cost of field studies.
With the risk of a global pandemic growing, experts say a better understanding of infectious illnesses and how to combat them is urgently needed.
Matthew Speight, a 27-year-old zoology student at Oxford University, earned almost £6,000 in two typhoid challenge trials organised by the Oxford Vaccine Group in 2016 and 2017. Undeterred, this week he is taking part in another trial in which he could contract malaria.
“I am a PhD student, the income I get is significantly below the minimum wage, so the financial incentive is strong,” he told The Telegraph. “The trials pay quite well and Oxford is very expensive. I used the money for my rent.”
Not all participants become ill but in both the typhoid trials Mr Speight took part in he contracted the disease. He described the experience as “the worst of my life”.
“You swallow a cup of bacteria”, said Mr Speight. “[There was] a bit of trepidation, but also a resolve. I thought, I’m here, so bring it on.”
Despite having had a trial vaccine two weeks ahead of time, the student contracted the disease. “Three or four days later I had this crazy fever. It was the height of summer, during the 2016 heatwave. My body and joints ached, I had a strong headache, and I was profusely sweating – I remember the bed being soaked, I had a lot of laundry to do that week. I wouldn’t wish that on my worst enemy.”
Typhoid, a highly contagious disease which spreads rapidly in areas with poor sanitation and dirty drinking water, affects nearly 12 million people a year and kills roughly 160,000.
Although typhoid vaccines do exist, current options do not work well in young children and provide protection for only a few years.
“In the last decade, there has been a recognition that these [trials] are a tool to deal with international challenges in health more rapidly,” said Andrew Pollard, professor of paediatric infection and immunity at Oxford University and director of the Oxford Vaccine Group.
“In a controlled and managed environment you can gain an answer about whether to proceed with a [new] vaccine.”
Over the last eight years, the Oxford study has enrolled more than 450 people, about half of them students. The vaccine developed as a result of the trial is now in the next phase of testing. It has been given to 89,000 children in Nepal, Bangladesh and Malawi and full results are expected later this year.
However, trials on healthy human volunteers have been controversial. A UK drug trial in 2006 went disastrously wrong when six healthy young men ended up in intensive care after reacting badly to an experimental medicine.
But while risk can never be entirely eradicated, scientists behind today’s challenge trials say the risks are minimal and the ethical standards watertight.
Participants are not technically paid for taking a risk but for their time and discomfort. A trial which involves a hospital stay, for instance, will pay significantly more than a study in which participants have to attend short check-up appointments.
“Consent of volunteers has to be central,” said Prof Pollard. “It’s also appropriate that pay is not linked to danger, or we may encourage the vulnerable to take more risks.”
Volunteers have extensive medical checks and are fully informed of the risks before participating. Doctors are also on hand 24 hours a day to monitor all participants and step in as required.
At the end of the trial, volunteers receive a course of antibiotics to eradicate any remaining bacteria, irrespective of whether they became unwell.
Typhoid is not the only disease volunteers are risking in the name of science. At the Liverpool School of Tropical Medicine (LSTM), around 1,250 volunteers have inhaled live pneumococcal bacteria – which can cause pneumonia – as part of a challenge trial.
“There are 90-plus strains of pneumococcal bacteria,” said Dr Andrea Collins, senior clinical lecturer at the LSTM. “Current vaccines in the UK protect adults against 23 strains, and children 13. We are still very much exposed. Our aim is to develop a vaccine with all 90 serotypes.”
Pneumonia is the leading killer of children under five worldwide, with 1.4 million dying from the preventable disease last year.
Volunteers in the study, who are predominantly students from Liverpool’s universities, are paid between £200 and £600 for taking part. But nobody has ever become ill in the trial, which tracks natural and vaccine-derived immunity based on whether participants become carriers of the disease.
Hannah Browne, a 23-year-old medical student at Liverpool University, is currently taking part in one of the pneumococcal vaccine trials in return for £380.
“I was intrigued about rising [disease] resistance so got involved,” she told The Telegraph. “But I’m a student so there was also a strong financial incentive. Every little helps.”
She added that having the bacteria squirted up her nose “tickled a bit” but was not painful.
Similar studies are likely to become more common. The Medical Research Council has established a new programme, Hic-Vac, which provides £100,000 grants to support scientists setting up challenge trials. The project is also creating a global network of researchers to share advice and insights about how to run a successful study.
Back in Oxford, Mr Speight was this week volunteering in yet another trial. This time he will be bitten by a malaria-ridden mosquito during a vaccine study run by the Jenner Institute.
The trial will involve around 40 volunteers, with each person paid between £1,700 and £3,000 for their participation.
“I’m a bit anxious, but even if I get ill, people will be on hand to treat me,” said Mr Speight. “Most people who get malaria don’t have that option. I want to contribute to tackling diseases in any way I can. It’s rewarding, even if it can be a terrible experience.”

http://www.todaysecho.com/british-students-are-being-paid-to-catch-diseases/

Smoking cannabis occasionally may improve men’s fertility by stimulating sperm production, a study by Harvard University suggests.
Analysis of more than 662 men found that those who had never taken the drug were more than twice as likely to have sperm concentrations below a “normal” threshold.
Published in the journal Human Reproduction, the results have taken the scientific community by surprise because previous research pointed to a negative effect for cannabis on fertility.
However, the scientists pointed out that most studies have hitherto focused on heavy drug users or animals.
They believe improved fertility in moderate users may be explained by a boost to the endocannabinoid system, known to play a role in sperm levels, from smoking cannabis.
Dr Jorge Chavarro, from the Harvard T.H. Chan School of Public Health, said: “These unexpected findings highlight how little we know about the reproductive health effects of marijuana, and in fact of the health effects of marijuana in general.
“Our results need to be interpreted with caution and they highlight the need to further study the health effects of marijuana use.”
or the new study, investigators collected 1,143 semen samples from 662 men between 2000 and 2017.
On average the men were 36 years old, mostly white and college educated.
Analysis of the semen samples showed that men who had smoked marijuana had average sperm concentrations of 62.7 million sperm per millilitre (million/mL).
Those who had never smoked a joint had an average count of 45.4 million/mL.
Only 5 per cent of cannabis users had sperm counts below 15 million/mL, the World Health Organisation’s threshold for “normal” levels, compared with 12 per cent of men who had never smoked cannabis.
The authors cautioned that their study does not prove cannabis improves fertility.
They said it was possible that men with more testosterone and better fertility are more likely to try drugs.

As China’s Economic growth slows down in the heat of its trade war with the United States, developing countries like Nigeria, who rely on Chinese loan may become adversely affected.

The first and second economies in the world have drawn daggers, and while they have not gone for each other’s throat, they are definitely attacking each other’s belly.

The United States had long protested that China unfairly devalues its currency, the Yuan, so that Chinese goods are relatively cheap compared to American products. China responded by reminding the Americans that they had put themselves in unfair advantage by determining the rules of international trade in the first place.

However, the conflict intensified when US president, Donald Trump, a Nationalist whose moto is ‘America First’, imposed heavy tariffs on Chinese imports into the US and the Chinese retaliated in kind. These tariffs, coupled by other factors, have slowed down the Chinese economy, which was growing at double digits 1o years ago. In the latest round of talks, both parties have agreed to suspend the punitive tariffs and wait for a 90-day window to resolve the crisis.

According to analysts, China’s economic growth rate went down to 6.5 percent in the third quarter of last year; the lowest ever since 2009. Economist forecast for this year is even more gloomy; at 6.2percent.

All the signs on ground shows that things are not looking good in China as they did two years ago. Car purchases fell last year for the first time in more than two decades. iPhone sales also went down abnormally in China last year. Meanwhile, the stock market in Shanghai has still plunged by more than a quarter from its 2018 high.

China has been shuffling its securities regulators in the past three years, indicating that all is not well in one of the fastest growing economies in the world. Banking veteran Yi Huiman was appointed the new chairman of the China Securities Regulatory Commission on Saturday, January 26.
Bloomberg reported on January 27 that Chinese banks are desperate for capital.

“To prop up the economy, Chinese banks have been lending well in excess of deposit growth. Since the beginning of 2016, as loans outstanding grew 41 percent, deposits rose just 29 percent. That put balance sheets under increasing strain,” according to Bloomberg
Chinese banks have lent out too much money than they should have. Although not yet insolvent, they do not have enough money to fulfil their lending obligations unless they get some money from outside. Chinese Banks simply don’t have the ability to continue lending as much as they do without additional capital.

This means China cannot loan out money to other countries as it used to. This is a source of worry for third world countries, like Nigeria, which is leveraging Chinese funding to execute $3.4 billion worth of projects. In September 2018, President Muhammadu Buhari was in China to secure an additional $328 million from the Asian economic powerhouse.

Nigeria’s increasing dependence on Chinese loans
Under President Muhammadu Buhari, Nigeria in increasingly dependent on loans to fund infrastructure projects and a large percentage of this is coming from China. Most of Nigeria’s borrowing from China is coming from the Chinese Export-Import Bank (Exim)
In August 2016, the Federal Government announced that it was seeking a loan of $20 billion from the China Exim bank to finance infrastructural projects at a time when foreign debt stood at $11.26 billion. One of the downsides of this is that the Chinese government gave stringent conditions to Nigeria for the loan, including the appointment of Chinese officials to oversee the utilization of the fund.

A breakdown of projects financed by Chinese loans:
Mambila hydro-electric power plant – $4.8 billion; railway modernisation coastal project (Calabar-Port Harcourt-Onne Deep Seaport segment) – $3.5 billion; Abuja mass rail transit project – $1.6 billion; Lagos-Kano railway modernisation project (Lagos-Ibadan segment double track) – $1.3 billion; Lagos-Kano railway modernisation project (Kano-Kaduna segment double track) – $1.1 billion; and others – $6 billion.

In February 2016, Minister of Transportation, Rotimi Amaechi announced that the government has secured a $7.5 billion loan from China for the construction of standard rail gauge from Lagos to Kano. Again in August 2018, during the FOCAC Round Table meeting in Beijing, Buhari announced that Nigeria has signed an additional $1billion loan from China for additional rolling stock for the newly constructed rail lines as well as road rehabilitation and water supply projects.

Today, Nigeria’s foreign debt has increased to $22 billion and China accounts for the bulk of that debt.

Rationale
Buhari has argued that the money borrowed from the Chinese has been efficiently utilized, citing ongoing projects under his administration that are being financed by loans from China.

In September 2018, the Federal Government in response to concerns about its growing Chinese debt, said through the Debt Management Office, that it borrows from China in order to take advantage of a cheaper source of finance. The DMO also reveals that the loans come with concessions which them very attractive.

“Given the country’s infrastructure deficit, which needs to be urgently addressed, the loans from China Exim, which provide financing for critical infrastructure in road and rail transport, aviation, water, agriculture and power at concessional terms, are appropriate for Nigeria’s financing needs and align properly with the country’s Debt Management Strategy.” The DMO said.

Dangers on the horizon
In October 2018, the MarketWatch warned about the time bomb of Chinese overfunding to Developing economies. It also warned that the terms of these loans may not be transparent enough and that it is probably only the officials involved directly in negotiating these deals that actually know and understand the terms of obligation for both borrower and lender.

“China is not a member of the Paris Club, so there is no reason to assume that the usual approach to official debt negotiations is relevant to understanding what may happen. If, as I suspect, widespread debt-servicing difficulties are on the rise among many of the world’s poorest countries, China’s tendency to favor collateralized loans raises particular challenges,” The Marketwatch said.

As the Chinese economy slows down and Chinese banks gasp for need of cash, it is highly unlikely that China will be interested in any new request for funds from Nigeria. It is also expected that the Chinese will now be more eager to recover their loans back which means stricter economic policies on Nigeria. This is worrisome for Nigeria as the country does not seem to have diversified its debt portfolio properly in the past three years, but instead focussed more on Chinese funding.

In short, the Nigerian government has become addicted to Chinese money. When the money stops coming, or reduces significantly, which may happen soon, is the government poised to adapt to the new changes?

Most of the projects funded by Chinese loans are not completed. The Lagos-Ibadan rail line was due to be commissioned last year December, but completion has been postponed to February 2019.

Moreover, these projects are being executed by Chinese companies, which is one of the conditions for the loans. The Lagos-Ibadan rail line for instance is being handled by the Chinese Civil Engineering Construction Company (CCECC). This is a smart move by the Chinese to ensure double capital flight back to China inform of business revenue and loan repayment. Now, with the pressure on Chinese banks for capital, these companies may also be under pressure to ramp up tax remittances back home.

Is the government seeking alternative funding for the projects? What will be the fate of these projects and other infrastructure commitments when funding stops?

As Nigeria heads into the presidential election in February, it is doubtful if any of the top contenders understands the enormity of the challenges awaits him when he resumes in May.


http://www.todaysecho.com/exclusive-chinas-slowing-economy-may-hurt-nigeria/

While fielding questions from participants at an interactive session organised by Good Leadership Initiative on Sunday in Lekki, Lagos, Vice President, Prof. Yemi Osinbajo said it is extremely dishonourable for the Senate President, Bukola Saraki and Speaker of the House of Representatives, Yakubu Dogara to label TraderMoni, one of the social investments programme of the current administration as vote buying.
“I don’t want you to believe some of the propaganda of the opposition on TraderMoni. First, I think it will be very useful if you follow what this TraderMoni is about. You know, The Senate President and the speaker of the House of Representatives were most dishonourable in describing the TraderMoni as vote buying. I say it is dishonourable because this is a programme authorised by the National Assembly. It is in the budget,”Osinbajo said.
“Both the Senate President and the speaker must have approved it before we could even spend money on it. Besides, after approving i t, they delayed the budget and we started implementing the budget in August. So, I don’t understand how anybody, who after approving it, but then defecting to another party will then describe a major government programme as vote buying. I think it is extremely dishonourable and I dont think we should countenance that propaganda from them at all.
He went further to justify the TraderMoni scheme as necessary in taking people out of poverty.
“The TraderMoni is a programme is run by the Bank of Industry. I do not carry money into the market place and give people money. It is purely electronic.
“There is a young Nigerian company called Eyo Owo, and other Nigerian companies that do enumeration. So what they do is, they go into the market, look for the petty traders, take their data and all of that. They ensure that the profile is right for those individuals who will be given the TraderMoni. When they have done that, they have an back-end, where they vet and then begin to make disbursements.
“We start with N10,000. These are petty traders whose inventory is usually no more than N2,000 or N3,000. When you look at somebody who is selling plantain or somebody who is selling a tray full of eggs.
“The problem many of s have is not just a problem in this side of the world. It is a problem of the elites. They don’t understand poverty, they haven’t seen it and they haven’t experienced it. So they can easily say ‘What is N10,000?’
“When they get the N10,000, once they pay back, it is automatic, they get N15,000, when they pay that too, they get N20,000, all the way up to N100,000. The whole idea is that these guys are at the bottom of the pyramid in our commercial value chain and they are the vast majority of people who trade in our country”.
“People keep talking about getting Nigerians out of poverty, how do we do it? What has worked in India and Bangladesh is what we are doing. Of course it is not vote buying.
“We used to give out MarketMoni before TraderMoni. 400,000 people got it and nobody heard of it because I didnt show up there. Once I showed up, the profile of the programme improved. Everybody now knows MarketMoni because I decided to join them in launching it in several states.
He concluded by telling the audience not to listen to funny individuals who are trying to put the efforts of the FG in bad light.

http://www.todaysecho.com/osinbajo-it-is-dishonourable-for-saraki-dogara-to-label-tradermoni-as-vote-buying/

Vice President of Nigeria, Professor Yemi Osinbajo has finally revealed the cause of the crash of his chopper on Saturday, February 2, 2019 at Kabba in Kogi State.

On Sunday, while addressing participants at a dialogue session organised by Good Leadership Initiative, at Pistis Conference Centre, Lekki, Lagos, the VP appreciated everyone for their concern and expressed that the crash was not as a result of a mechanical fault.
Talking about the safety measures being taken to forestall similar occurrences in the future, he said:
“The truth is that I can’t say for certain what will happen as a general rule, but yesterday’s (Saturday) incident was not a mechanical problem, it was more of a weather or environmental problem that caused the crash. It will be difficult to say what anyone will do about those kind of situations.

“I think that, generally speaking, these kind of things occur but God is Almighty and He is sovereign. I believe that the incident demonstrated that God has a plan and purpose for each and everyone of us and it is not yet time”.
Immediately after the crash, Caverton Offshore Support Group Plc, the public limited company holding Caverton Helicopters Limited and Caverton Marine Limited, released another helicopter to Vice President Yemi Osinbajo.

Source: http://www.todaysecho.com/osinbajo-speaks-on-cause-of-helicopter-crash-says-it-is-not-yet-time-to-die/

Are you a business owner, corporate executive, young entrepreneur or an aspiring leader? Register to join the Session with VP Osinbajo, which takes place on Sunday 3rd of February 2019 in Lekki, Lagos. You will have the chance to interact and ask questions.

Attendance is strictly by invitation. Registration is free!

This dialogue with Vice President Yemi Osinbajo is put together by Good Leadership Initiative (GLI), a non-partisan and not-for-profit organization with a mandate to promote the emergence of capable Nigerian professionals across all cadres of governance.

To find out more and register, visit http://www.goodleadershipinitiative.com/#faq

It is very easy if you have your money. If you are the one that goes to them, then it is seen as a commercial affair and you are billed.

10 minutes interview on Business Morning for instance, costs at least 500,000 naira

The oil and gas industry is the lifeblood of the Nigerian economy. According to a Nigerian Energy Sector report done by Proshare, the industry contributes about 16.05% to Nigeria’s total GDP, and accounts for over 74% of the national budget revenue. The industry has been divided into upstream, midstream and downstream. The upstream sector of the industry, which consists of the exploration and production of crude oil is the major revenue earner for the government.

A 2016 KPMG Nigeria oil and gas industry brief puts the upstream oil sector as the single most important sector in the economy, accounting for over 90% of the country’s exports and about 80% of the Federal Government (FG’s) revenue.

Though, the upstream sector is dominated by International Oil Companies (IOCs) which account for more than 70% of Nigeria’s production, indigenous oil companies have within the last five years become increasingly involved. A couple of Nigerian oil and gas companies have acquired assets left behind by IOCs ongoing divestment. Although there have been challenges, indigenous firms have generally done well with the assets they have acquired, thereby increasing optimism in the ability and capacity of local content.

With indigenous firms now accounting for about 12 per cent of Nigeria’s 1.8million bpd total oil production, five of these local players are leading what is called ‘the indigenous revolution’ in the Nigerian upstream sector.


See full list here: http://www.todaysecho.com/five-indigenous-companies-revolutionising-the-nigerian-upstream-oil-and-gas-industry/

Oil prices are climbing higher this week as the United States escalates its stance against Venezuela with sanctions against its state-owned oil corporation. This gives the Nigerian government more optimism that it will meet up with the 2019 budget, which is benchmarked at $60p/bl.
This will also make more money available for the Nigerian government, which is spending about N242 Billion on the 2019 elections
According to CNBC, International Brent crude oil futures were at $60.05 per barrel, up 12 cents, or 0.2 percent on Tuesday morning. This is expected to go higher as the sanctions bite harder in the coming days.

http://www.todaysecho.com/2019-budget-more-oil-revenue-for-fg-as-us-targets-venezuelas-petroleum-industry/

According to US National Security Adviser(NSA), John Bolton, the measure blocks about $7 billion in assets for Petroleos de Venezuela, S.A. — the parent company of the US-based Citgo oil company, and would result in more than $11 billion in lost assets over the next year.
“The United States is holding accountable those responsible for Venezuela’s tragic decline,” US Treasury Secretary, Steve Mnuchin said.
“PdVSA has long been a vehicle for embezzlement, for corruption for Venezuelan officials and businessmen. Today’s designation of PdVSA will help prevent further diversion of Venezuela’s assets by Maduro, and will preserve these assets for the people of Venezuela where they belong,” Mnuchin added.
Venezuela has been enmeshed in crisis, following widespread demonstrations against president Nicholas Maduro and the declaration of opposition, parliament-backed Juan Guaido as interim president. The United States and several South American counties have recognized Guaido as Venezuela’s leader while Maduro continues to hold on to power.
Venezuela has the world’s biggest proven oil reserves and is a member of the Organization of the Petroleum Exporting Countries (OPEC).
There have been concerns that the execution of the 2019 budget may encounter serious threats as the price of oil hovered below the $60 benchmark in December 2018.
While the problem in Venezuela has been tragic for the South American country, it may be a blessing in disguise for the Nigerian government.

As the trade war between the United States and China intensifies, both countries are beginning to feel the heat. It is particularly worrisome for China as the world’s second largest economy slows down under the weight of economic tariffs on trade with the US.

According to analysts, China’s economic growth rate went down to 6.5 percent in the third quarter of last year; the lowest ever since 2009. Economist forecast for this year is even more gloomy; at 6.2percent. This is not to say that the United States is also not bearing the brunt of the conflict. Economists are less optimistic about U.S. expansion this year too, though they’re nearly unanimous in feeling a recession can be kept at bay until at least 2020.
What Donald Trump has done to hurt China is his policy of imposing high tariffs on Chinese goods, which has led to a plunge in Chinese imports into the United States. With no market to sell their goods, the Chinese are looking elsewhere, to Europe and developing economies.
All the signs on ground shows that things are not looking good in China as they did two years ago. Car purchases fell last year for the first time in more than two decades. iPhone sales also went down abnormally in China last year. Meanwhile, the stock market in Shanghai has still plunged by more than a quarter from its 2018 high.

http://www.todaysecho.com/china-us-war-chinas-economy-slows-down-under-the-weight-of-trumps-sanctions/

Moreover, reports wafting into the media space this morning indicate that Chinese banks, although not insolvent, do not have enough money to fulfil their lending obligations unless they get some money from outside. Chinese Banks simply don’t have the ability to continue lending as much as they do without additional capital

This means China cannot loan out money to other countries as it used to. This is a source of worry for third world countries like Nigeria, which is leveraging Chinese funding to execute $3.4 billion worth of projects. In September 2018, President Muhammadu Buhari was in China to secure an additional $328 million from the Asian economic powerhouse.

Furthermore, China has been shuffling its securities regulators in the past three years. Banking veteran Yi Huiman was appointed the new chairman of the China Securities Regulatory Commission on Saturday, January 26.

Nevertheless, the Chinese economy remain strong despite the downturns. The Yuan is strong and growth rate remains high despite the decline. Analysts believe this current crisis is a test of the endurance of the evolving Chinese economy.

The Chinese know the trade war with the US is hurting them badly, that is why they have indicated reainess to renegotiate.
The U.S. and China will hold a pivotal round of talks this week in an attempt to end their trade war. The meetings are scheduled to commence on January 30. Bloomberg predicts 3 scenarios:

The U.S. and China agree to hold more talks
China comes to table with a game-changing offer
Negotiations break down and Trump walks away

Commendations have been pouring in for a British Special Forces soldier who participated in fighting terrorists and rescuing victims during a terrorist attack on a hotel in Nairobi.
MSN news reports that, the elite soldier, who is in Kenya training the country’s special forces, was on an “admin run” when al-Shabaab terrorists stormed the nearby hotel complex, killing 14 people, including a British charity worker
According to media reports, the SAS operative was off-duty, shopping nearby when the incident happened. He dashed to his car, picked up his military equipment and dashed to the scene.

Former British soldier, Chris Ryan, who served in the elite regiment for 10 years, said: “He was out shopping on an admin run.
“He had his equipment in the car, so when it all kicked off he sprinted back to his car and quickly got kitted up before heading straight towards the firefight.
“When he arrived in the hotel he started organising the entire operation, directing the police and army.
“Then he went in there on his own to neutralise the enemy and rescue the hostages.
“His actions certainly saved many lives and shows the manner of these men, who are extremely brave and always ready.”
Pictures and video from the scene show the SAS operative in jeans and body armour, holding a gun, as he escorts bystanders out of the DusitD2 hotel to safety.
The weapon he is seen clutching is a Diemaco C8 Carbine – standard issue for Special Forces soldiers.
Chris, who served in the highly-secretive regiment for 10 years, said footage of the soldier showed he is a highly trained fighter who instinctively knew what he needed to do to save lives.
And he praised his “creativity” in instructing Kenyan forces to block off roads and exits and storm the hotel on his own.
Best-selling author Chris, whose books are inspired by his SAS bravery, said: “That’s just what the guy does, it’s his nine to five job.
“He’s trained to the highest level to react to these types of situations. And counter terrorism operations are just bread and butter to him.
“The calibre of these types of soldiers is such that the other side, al-Shabaab, wouldn’t stand a chance if they came up against this guy.
“He is trained to react to the threat. He will instinctively locate the threat, identify it and then neutralise it.
“His tactic is to shoot the enemy before they get a chance to shoot themselves.
“You can see from the videos that he wasn’t cowering anywhere, he was aggressively moving on to targets, on the prowl hunting these animals down.
“He was dominating the firefight, switching everything from their surprise attack to them being hunted, because they’ve now got a professional solider in the thick of it going after them.”
Chris said he was impressed – but not surprised – at how the soldier took control of the situation, directing the Kenyan police and army as he engaged with the terror gang.

http://www.todaysecho.com/off-duty-british-soldier-who-stormed-scene-of-kenya-terrorist-attack-commended/

On January 08, 2019, the second edition of the Aiteo-CAF Awards, was held in Dakar, Senegal. Liverpool forward, Mohammed Salah and South African playmaker, Thembi Kgatlana emerged African male and female players respectively at the event, sponsored by Aiteo, Nigeria’s largest indigenous oil and gas company.

Few things arouse interest and passion more than the round leather game in Africa. Besides the excitement it generates, football presents an alternative reality for Africans.
A critical look at football sponsorship in Africa shows that Aiteo, MTN, and Globacom are some of the few African companies that have invested heavily in football on the continental.

Aiteo is taking care of the payment of salaries of the National team coach and other football officials under a deal worth about $7million with the local football authority, the Nigerian Football Federation (NFF) in May 2017. Aiteo also paid special bonuses to players of the National team, the Super Eagles, during their world cup qualifiers. This has led to a remarkable improvement in the Nigerian national team, which qualified for the FIFA World Cup 2018 and the African Cup of Nations 2019 after a string of failures.

Furthermore, Aiteo has invested into local football in Nigeria by taking over the sponsorship of the FA Cup, the oldest football tournament in the country, which was rebranded Aiteo Cup in another monumental deal with the NFF.
Another Telecoms company with a large presence in Nigeria that is investing in African football is MTN. The South African Telecom giant was the title sponsor for the AFCON from 2004 to 2008. According to African Business Review, MTN’s $12.5mil was the biggest sponsorship deal in African sporting history. MTN also sponsored the 2010 World Cup in South Africa, making history as the first African sponsor of a FIFA World Cup.
Some African companies have also invested heavily in the local leagues of their home countries. In South Africa, state-owned telecoms company, Telkom sponsors one of the most important tournaments in the country. The Telkom Knockout is a yearly football competition organized by the Premier Soccer League (PSL). The South-African bank, ABSA has also been heavily involved in the country’s premier league as title sponsors.

https://www.newtelegraphng.com/2019/01/caf-awards-aiteo-others-hailed-for-investing-in-african-football/

Authorities in Las Vegas have issued a warrant to obtain the DNA of soccer superstar Cristiano Ronaldo to see if it matches that found on a dress of a woman who has accused him of rape, according to a law-enforcement official with knowledge of the case.

The authorities sent the warrant recently to the court system in Italy, where Mr. Ronaldo plays soccer, the official said.
Las Vegas police reopened the case in the fall after the woman, Kathryn Mayorga, filed a lawsuit alleging that Mr. Ronaldo raped her in 2009 in Las Vegas and then paid her $375,000 (£294,000) to keep it secret.

Authorities in Las Vegas have issued a warrant to obtain the DNA of soccer superstar Cristiano Ronaldo to see if it matches that found on a dress of a woman who has accused him of rape, according to a law-enforcement official with knowledge of the case.
The authorities sent the warrant recently to the court system in Italy, where Mr. Ronaldo plays soccer, the official said.
Las Vegas police reopened the case in the fall after the woman, Kathryn Mayorga, filed a lawsuit alleging that Mr. Ronaldo raped her in 2009 in Las Vegas and then paid her $375,000 (£294,000) to keep it secret.

An attorney for Ms. Mayorga and a Las Vegas police spokeswoman didn’t respond to requests for comment.
A key piece of evidence in the investigation is a dress from the night in question nine years ago. Las Vegas police found DNA other than Ms. Mayorga’s on the dress, the law-enforcement official said. When the warrant is served in Italy, authorities would be expected to collect a sample of Mr. Ronaldo’s DNA and send it to Las Vegas police, who would assess whether it matches that found on the dress, the official said.
Mr. Ronaldo plays for the Turin, Italy-based club Juventus, which signed him in a $92 million transfer last summer.
The alleged rape occurred in June 2009. Mr. Ronaldo, then 24, was on vacation in Las Vegas and met Ms. Mayorga in the Rain nightclub at the Palms Casino Resort before inviting her to a party in his suite, according to her civil complaint.

It was there that Mr. Ronaldo forced himself on Ms. Mayorga while she begged him to stop, the filing alleges. The complaint adds that “when Cristiano Ronaldo completed the sexual assault of the plaintiff, he allowed her to leave the bedroom stating he was sorry, he was usually a gentleman.”
Ms. Mayorga reported the alleged sexual assault to police on the day it occurred. Under Nevada law, there is no statute of limitations on investigations or potential charges stemming from such reports.

http://www.todaysecho.com/rape-allegation-police-issue-warrant-to-obtain-ronaldos-dna/

Hip hop star, Nicki Minaj has become embroiled in a scandal after her latest boyfriend was exposed as a convicted rapist and serial criminal.
According to Hollywood Life, to say that Kenneth “Zoo” Petty, 40, has a long rap sheet is an understatement. Nicki Minaj’s new man has been arrested twelve times over the years, and each time, he’s gotten a brand new picture, courtesy of the police. While the exact details of each twelve arrests are unknown, it is known that Kenneth has served time for both attempted rape and for shooting a man. His most recent arrest, according to Radar Online, happened on Sept. 12, 2018, when he was reportedly busted for driving with a suspended license.
Kenneth was allegedly charged with two infractions and one misdemeanor for “operating an unlicensed vehicle,” “failure to stop at a stop sign,” and “operating a vehicle while license is suspended or revoked.” He appeared in the Nassau County First District Court on Oct. 25 for an arraignment hearing, and his next court date on the case is scheduled for Jan. 8, 2019. This offense pales in comparison to his arrest in 1995. When Kenneth was just 16-years-old, he was busted for attempted first-degree rape of a 16-year-old-girl. Kenneth, according to official records, used a “knife/cutting instrument” during the attempted rape. Kenneth is now a registered sex offender.
According to TMZ, Petty served four years in New York State Prison before he was released. Years later, Petty was convicted of first-degree manslaughter and served another seven years for shooting a man. He reportedly was released in 2013.
Nicki Minaj has fought back against the rising criticisms about her choice of lover. According to Fox news, Minaj, whose real name is Onika Tanya Maraj, faced intense scrutiny from fans after she shared a photo of herself with Petty on Instagram on Sunday. In the picture, Minaj is seen with her left leg wrapped around Petty as he cradles the backside of her thigh.
This has led to an outpouring of criticisms on the social media.
In response, Minaj wrote on IG recently: "He was 15, she was 16... in a relationship. But go awf Internet. y'all can't run my life. Y'all can't even run y'all own life. Thank you boo."

http://www.todaysecho.com/nicki-minajs-new-boyfriend-exposed-as-convicted-rapist/

Honestly, feminism is very rational but not natural.

Yes, I think every reasonable persons will like a world where anybody can chose whatever they want to be either men or women. The truth is that, our choices will always be guided by reality. Sometimes, we get stubborn and reject the natural path but often times, it comes with sacrifice. If we are ready to pay the sacrifice, we should do it without complaint.


The problem with feminism is that it seeks to create make men and women equal in all ramifications, forgetting that men also have their own natural incapabilities. Men are not naturally suited for raising babies alone., they cant breastfeed. If a woman goes all out for career and the man is left with the kids, he could try his best but will be naturally hampered.
Now remember, there is a third party; children. If you are a woman and you are ok with strangers raising your children for you, fine. Deal with it cos it's the choice yu have made.


Nevertheless, there are homes where both husband and wife are successful career people but usually when they get to a point where they have to decide who should sacrifice a bit of their career, its the woman and when the pressure for finance comes, the man steps in.


I beleive many men would be ok with women who can take care of their responsibilities too but it's the same feminist women that will call such a man lazy whereas many women live off men without compaints

Buhari acts tough:

https://www.vanguardngr.com/2018/12/fg-moves-to-end-revenue-diversion-by-key-mdas/

Three years after the full implementation of the Treasury Single Account, President Muhammadu Buhari has finally moved to plug the existing income leakages from revenue-generating ministries, departments and agencies. This latest directive is in reaction to a forensic report by auditing firm, KPMG, confirming that some Government Owned Enterprises (GOEs) failed to remit N8.1 trillion within a period of five years, an amount equivalent to the country’s yearly national budget.
A recent circular from the office of the Secretary to the Government, titled “New and Improved Performance Management Framework for Government Owned Enterprises (GOEs)”, has detailed measures to ensure that all funds generated by these enterprises are correctly and efficiently swept in the Federation Account.
The circular re-categorised GOEs into self-funded, partially funded or fully funded, as is the practice in other countries in the world, to optimise their contributions towards funding the federal budget. The Presidency has also immediately ordered a major reorganization of the budgeting and remitting processes by no fewer than 30 GOEs. These include:
Nigeria Social Insurance Trust Fund (NSITF)
Nigerian Coal Corporation (NCC)
Nigerian National Petroleum Corporation (NNPC)
Nigeria Electricity Regulatory Commission (NERC)
Nigeria Deposit Insurance Corporation (NDIC)
Nigerian Television Authority (NTA)
Federal Radio Corporation of Nigeria (FRCN)
Voice of Nigeria (VON)
National Communication Commission (NCC)
Nigeria Ports Authority (NPA)
Nigeria Maritime Management and Safety Authority (NIMASA)
Nigeria Export Processing Zone Authority (NEPZA)
Nigeria Oil and Gas Free Zone Authority (NOGFZA)
Nigeria Bulk Electricity Trading Company (NBET)
Nigeria Aerospace Management Agency (NAMA)
Nigeria Meteorological Agency (NIMET)
National Civil Aviation Authority
Nigeria Aviation Handling Company (NAHCO)
National Housing Corporation of Nigeria (NHCN)
Nigeria Railway Corporation (NRC)
Federal Inland Revenue Service (FIRS)
Nigeria Customs Service (NCS)
Federal Road Safety Commission (FRSC)
Nigerian Gas Company (NGC)
Nigerian Tourism Development Board (NTDB)
Joint Admission and Matriculation Board (JAMB)
National Universities Commission (NUC)
Education Trust Fund (ETF)
Petroleum Development Trust Fund (PDTF)
Niger Delta Development Commission (NDDC)
The new measures are aimed at making the companies more efficient, reducing wastage and eradicating corruption.
“Government has noted also that most GOEs remit less operating surpluses to the Consolidated Revenue Fund (CRF) than is required by law and/or financial regulations, thereby imposing avoidable restrictions on government’s ability to implement its developmental agenda,” the circular reads.
Henceforth, the performance contracts of the chief executive officers (CEOs) and other top management staff of these enterprises will include financial indicators and targets.
Also, the office of the Accountant General of the Federation will be required to regularly monitor the revenue and expenditure performance of all GOEs and ensure that they are published monthly.
There shall also be a quarterly Budget performance review of the GOEs by the budget office.
The circular stated that the government will now strictly enforce the peg of expenses, “frequency of board meetings, overseas travels” as well as cut “other potentially wasteful practices.”
The circular also reiterated that it is mandatory for all GOEs to use the Treasury Single Account (TSA) for all financial transactions. According to the circular, remittances are now be collected quarterly instead of annually as was the practice.
The Secretary to the Government of the Federation, Boss Mustapha, who signed the circular, said incentives will be included within these measures to encourage compliance. He also said the government will undertake legislative actions to amend sections of the acts establishing some GOEs to accommodate the newly announced procedures.
Other measures stipulated in the circular include:
“Accounts of all GOEs shall henceforth be audited within 4(four) months after the end of each financial year;
“the computation of the operating surplus shall be reviewed to allow the deduction from the agency’s revenues of only operational expenses, wholly, reasonably and necessarily incurred in its operations;
“annual budgets of GOEs shall be presented to the Budget Office of the Federation for review, further to which they will be submitted to the National Assembly by Mr. President along with the national budget. GOEs shall no longer send their budgets directly to the National Assembly;
“consideration and passage of budgets of GOEs shall going forward, be scheduled alongside the main budget of the Federal Government; and
“agencies with capacities to be self-funding shall be categorised and removed from the National Budget. “
According to the circular, revenue departments to be manned by “Professional Treasury Officers from the Office of the Accountant-General of the Federation” would be created within the GOEs.

Are you a witty and talented wordsmith? Stand a chance to win N30,000 cash at the comfort of your home by participating in this #HopeBeatsCancer copywriting challenge organised by Zenera Consulting, a leading public relations and advertising firm in Nigeria.

In celebration of its 5th anniversary, Zenera Consulting is lending its voice to cancer awareness and is seeking to inspire hope in people living with cancer or who have close relatives fighting the disease.

The #HopeBeatsCancer copy must be original, creative and inspiring. Contestants are expected to post the copy on Instagram, using the hashtags, #ZeneraAtFive #HopeBeatsCancer. Five winners will be selected on November 30, 2018 by award-winning writer, Toni Kan.

Apart from the N30,000 up for grabs, the winners will also be invited to Zenera’s star-studded cancer walk, scheduled for December 1, 2018, in partnership with Inspiration FM, Lakeshore Cancer Centre, Roding Healthcare Limited and Federal Road Safety Corps.

Learn more about the cancer walk here: https://www.vanguardngr.com/2018/11/zenera-consulting-to-celebrate-5th-anniversary-with-walk-for-cancer/

International business news platform, Bloomberg has published a new feature report, alleging that internal quarrels are weakening Nigeria’s ruling party before elections.

Read full report below:

Nigerian President Muhammadu Buhari’s chances of winning re-election in February are facing a potentially insurmountable hurdle: widening divisions in his own party.

Read the rest here: http://www.todaysecho.com/internal-quarrels-weaken-nigerias-ruling-party-before-elections-bloombergopinion/

The Ondo State Government has revealed that it would commence construction on a planned flyover bridge at Ore next week.

The bridge is an effort to divert traffic along the Lagos-Ore-Benin expressway to ease traffic and reduce accidents. The governor of Ondo State, Arakunrin Akeredolu has solicited support from stakeholders, including the FRSC in ensuring a successful construction.

Governor Akeredolu yesterday, met with the Corps Marshal of the Federal Road Safety Corps, Dr Boboye Oyeyemi.

Part of recent statement by the governor, made available to Today’s Echo, reads:

“I just finished discussing with the Corps Marshal of the FRSC, soliciting their support with our government with diverting traffic as we commence the construction of the Flyover Bridge in Ore next week”

http://www.todaysecho.com/ondo-state-government-to-commence-construction-of-ore-flyover-bridge-next-week/

Bekeme Masade, CEO of CSR-in Action, a Nigerian  sustainability advocacy and consulting outfit, has been appointed as a member of the Board of Directors of the Global Reporting Initiative (GRI), the world’s leading sustainability impact measurement and reporting standards body, based in Amsterdam. She will be joining a leading caste of global sustainability professionals.

Bekeme, who is the first West African member on the Board of Directors, will be commencing her 3-year appointment on 1 January, 2019. She was appointed alongside Mr. Jack Ehnes, Chief Executive Officer, The California State Teachers Employees’ Retirement System (CalSTRS), USA and Dr. Jianzhong Lu, China President of Weir Group, China. The GRI board appointment process is rigorous and meritorious and other current board members include Tim Mohin, Chief Executive, GRI, Prof. Alexandra Watson, Vice-Chairman, GRI Board, Dr. Jianzhong Lu, China President of Weir Group, Girish Ramachandran, President, Tata Consultancy Services Asia Pacific, Singapore, Mr. Peter H. Y. Wong, Chairman of General Fiduciary Company Limited, Hong Kong SAR, Dr. Roberto F. de Ocampo, OBE, Founding Partner of Centennial Group International, Philippines and Sandra Guerra, Managing Director, Better Governance, Brazil.

“They are joining at an exciting time, as GRI navigates towards the consolidation of its strategy and uncovers new opportunities for growth,” says Eric Hespenheide, Chairman, GRI Board, a former Partner at Deloitte, who led their global sustainability reporting and assurance practice. Also, according to GRI, the latest “appointments reflect GRI’s multi-stakeholder nature and commitment gender, regional and background diversity.”

Commenting on the appointment, Bekeme expressed her delight, saying, “I am humbled by this appointment. It tells me that the GRI is committed to engaging its most crucial stakeholders honourably and to pursuing an African agenda. I remain convinced that Africa is ripe for advancing and embedding sustainability practices and that the GRI is a valid partner to work with to drive the sustainability agenda even more than ever.”

A social entrepreneur, Bekeme is the Chief Executive of CSR-in-Action, a group made of a consulting firm, a think tank and a training institute dedicated to corporate social responsibility, policy development, advocacy, empowerment and sustainable development in the region.

Bekeme, CSR-in-Action has promoted sustainable measurement and reporting using the GRI framework, specifically, since 2011, and has catalysed the growth of sustainability adoption and transparency through corporations’ production of annual report.

CSR-in-Action produces the pioneer sustainability investment report in Nigeria The Collective Social Report: Nigeria (now The Corporate Sustainable Investor Report), endorsed by the United Nations Framework Convention on Climate Change (UNFCCC), and supported by United Nations Global Compact (UNGC) in 2012; a first of its kind compendium which includes a rating of business sustainability performance.

Bekeme helped establish the Business Coalition for Sustainable Development Nigeria (BCSDN) in May 2014, an initiative affiliated with the World Business Council for Sustainable Development (WBCSD), made up of a coalition of leading businesses across all sectors to drive collective development. She has engaged stakeholders throughout the economic value chain – government, business, civil society organisations and communities – and recently spearheaded the design and development of a Community Engagement Standards to facilitate the Federal Government agenda for promoting peace through equity in oil and gas communities in Nigeria. She is on the board of several non-profit and for-profit organisations and is convener of the annual Sustainability in the Extractive Industries Conference, the largest development focused gathering for extractives now in its eighth year, and producer of The Good Citizen Radio Show.

GRI is an independent international organisation that pioneered sustainability reporting globally. It currently serves a global audience through regional hubs in Brazil, China, Colombia, India, South Africa and the United States. GRI reports are produced in more than

The acting Minister of Finance, Zainab Shamsuna Ahmed has said that over 2,000 former workers of the defunct Nigerian Airways have now received at least 50 percent of their pension.

Part of a statement from Ahmed available to Today's Echo, reads:

"Happy to announce that we are committed to keeping to our promises of ensuring social justice never eludes our people again. Over 2,000 Nigerians now have access to their entitlements, after 16 years."

In October, 2018, the Federal Government began paying the arrears of former Nigeria airline workers.

https://twitter.com/ZShamsuna/status/1061684630120812544