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PoliticsRe: Waiver Not Granted For Bulletproof Cars —okonjo-iweala by karlmax2: 10:07am On Nov 01, 2013
What did lagos state do with the 300 cars after the eko games? and at what cost did cosharis sell it to them.? Were the vehicles even bought?
but the lagos state house of assembly would never probe this.
PoliticsSecurity Forces Kill 21 Suspected Terrorists In Fresh Damaturu Attack by karlmax2(op): 8:22pm On Oct 25, 2013
The spokesman of the 3 Division Special Operation Battalion, Damaturu, Captain Eli Lazarus says 21 suspected members of the Boko Haram sect were killed in the gun battle with security forces that lasted over 8 hours Thursday, 24 October in Damaturu the Yobe state capital.

The spokesman in a statement today in Damaturu says three vehicles were also recovered from the insurgents during a severe encounter with the terrorists in various parts of Damaturu that lasted for several hours.

Other items recovered from the insurgents include; 4 AK47, 1 FN Rifle, 1 Rocket Propelled Grenade and 1 Rocket Propelled Grenade Bomb (RPG).

Others include;1 extra barrel of General Purpose Machine Gun (GPMG), several Improvised Explosive Devices (IED) and 709 rounds of assorted ammunition.

The statement says the 24 hour curfew earlier imposed on the state is to enable security forces pursue the fleeing terrorists and advised residents to obey the curfew time and to divulge relevant information to security agents for the restoration of peace in the state.

Witnesses however said the insurgents burnt down the official residence of the commandant of the Mopol 41 Damaturu among other residential houses in the Mopol Barracks before carting away some arms and ammunition from the Armoury.

Other areas destroyed according to witnesses include; the Police Criminal Investigative Department (CID) as well as the area command located in the heart of Damaturu town.

It was also gathered that some officers and men as well as women and children of the Yobe State Police Command may have been killed in the attack on the mobile base as RPG was launched into some residential houses of the police mobile base.

Hospital sources also said the insurgents went away with two ambulances of the Sani Abacha General Hospital Damaturu as well as assorted drugs during the coordinated attack.

The suspected Boko Haram sect had yesterday launched a coordinated attack in Damaturu first, with attack on the military check point close to the mega station to signal the commencement of the ttack.

http://www.channelstv.com/home/2013/10/25/security-forces-kill-21-suspected-terrorists-in-fresh-damaturu-attack/?utm_source=&utm_medium=twitter
PoliticsCourt Awards Ibori Bribe Money To Federal Government by karlmax2(op): 1:40pm On Oct 25, 2013
The Federal High Court sitting in Abuja has
awarded the ownership of the $15 million former Delta state governor, James Ibori bribe money to the federal government.

The court averred that the Delta state government failed to prove beyond reasonable doubt that the money belongs to it.

The Delta state government claimed ownership of the money allegedly given by Mr. Ibori,  as bribe to stave-off arrest by former chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu.

The EFCC had in July 2012 approached the court through an ex- parte application, requesting for an
order forfeiting the Ibori bribe which had been lying in the vaults of the Central Bank of Nigeria for more than five years to the Federal Government as unclaimed proceed of crime.

The EFCC had urged the court to dismiss the claim by the Delta State government to the alleged bribe and order the final forfeiture of the sum to the Federal Government in line with the provisions of Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006.

http://www.channelstv.com/home/2013/10/25/court-awards-ibori-bribe-money-to-federal-government/?utm_source=&utm_medium=twitter
EducationPrimary School Wall Collapses In Ota, Kills Pupil by karlmax2(op): 10:21pm On Oct 24, 2013
date: October 24, 2013
The wall of a primary school, Ketu Adiye Owe Primary School, Ado Odo/Ota local government area of Ogun state, South West Nigeria has collapsed, killing a pupil with four others sustaining injuries.

The affected classroom, located in an erosion-prone area within the school compound reportedly caved in, while the children were observing their break time.

The injured pupils were said to have been treated in a private hospital before the Local Government Council Chairman, Comrade Rotimi Rahmon, rushed to the school premises shortly after the incident, and directed that they should be taken to the General Hospital.

The local government chairman, who expressed regrets over the unfortunate incident, also directed that the standing wall of the affected classroom be brought down immediately.

He also directed all school headmasters in the LGA to ensure that any structure or object that can endanger pupils are removed from school premises.

He appealed to all residents of the local government to maintain peace as the government would continue to act in the best interest of the people.
http://www.channelstv.com/home/2013/10/24/primary-school-wall-collapses-kills-pupil-in-ota/?utm_source=&utm_medium=twitter
PoliticsRe: Tinubu Cries Bloody Murder – Nigeria Bans Tax Contractors by karlmax2: 8:14am On Oct 24, 2013
This is what all lagosians know already. The massive fraud going on in lagos state is no longer news .
PoliticsRe: Grounding Of Amaechi’s Aircraft Illegal — Reps by karlmax2: 8:02am On Oct 24, 2013
Just like they cleared farouk lawal of any wrong doing.
PoliticsRe: Lekki-epe Int’l Airport To Commence Operation By 2012. by karlmax2: 7:56am On Oct 24, 2013
Nobody is comparing gejs performance with fashole. GEJ is way ahead of him and keeps to his promises. The question is for the apc lapdogs and their propoganda machine. Its going to 2 years since this thread was released since then delta state government has built and started operating it's own airport just yesterday someone posted progress been made by the bauchi state government on its own airport. Where is the progress report at least for the lekki airport. Lie lie and propoganda government...
PoliticsRe: Lagos Light Rail Will Be Ready In June – Fashola by karlmax2: 7:47am On Oct 24, 2013
Asked them they would come with all sorts. Of excuse and same old picture we've been fed with since inception of the project.if na GEJ make this promise some fools would have hard on about it.
PoliticsRe: Lekki-epe Int’l Airport To Commence Operation By 2012. by karlmax2: 7:40am On Oct 24, 2013
Where is the airport is not ready yet if this promise was made by GEJ this news would still be on the front page... 2013 would soon end and contruction of this airport are only seen on the pages of newspaper
PoliticsRe: Lekki Toll Road Buy Back.......my Thoughts...by Senator Musiliu Obanikoro by karlmax2: 8:32am On Oct 22, 2013
We know this already,the lekki- epe Express Road renovation is one of the biggest scam of our time.... The money used for the shabbly done renovation can build 2 new standard roads In the same axes.those of us that stay in this area would protest with our votes come 2015.
PoliticsRe: Fg May Sack Workers In NCAA, Others Over Bulletproof Cars by karlmax2(op): 8:13am On Oct 22, 2013
PoliticsFg May Sack Workers In NCAA, Others Over Bulletproof Cars by karlmax2(op): 8:12am On Oct 22, 2013
THERE are indications that following the revelation of purchase of two bullet proof cars for the Minister of Aviation, Stella Oduah, by the Nigerian Civil Aviation Authority (NCAA) heads may begin to roll in the agency soon.

Apart from NCAA, which is the prime target, staff of other agencies in the sector like the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency (NAMA) are not free from the eagle eyes of investigators as the government is said to be suspecting that they leaked the information to the media.

At the headquarters of NCAA yesterday at the Murtala Mohammed Airport (MMA), Lagos, workers were seen discussing the development in low tones.

Since the issue was blown open by the media last week, several Nigerians have reacted angrily to it by describing the amount involved as outrageous and fraudulent. Some of the analysts also called for the immediate removal of the minister on the ground that the purchase of the expensive security cars did not follow due process.

NCAA has been in debts for several months just as it was revealed that the luxury cars were bought on credit from Coscharis Auto Company while First Bank Plc stood as a guarantor for the agency.

Besides, following the embarrassment the revelation of the controversial deal has caused the Federal Government, the Director General of the NCAA, Captain Fola Akinkuotu, announced plans to launch an investigation to unravel those behind the official information leakage.

Akinkuotu while speaking at a press conference in Abuja described the information leakage as criminal, saying the action posed danger to a sensitive government agency like the NCAA.

The declaration of the NCAA DG to set up a committee to probe the information leakage has created tension within the agency as workers who spoke but did not want their names in print, expressed the fear that the management may use the opportunity to sack innocent people or those they found not to be blindly loyal to them.

Meanwhile, Media Rights Agenda (MRA) and the Public and Private Development Centre (PPDC) have submitted a joint Freedom of Information(FOI) request to the NCAA asking for detailed information on the procurement records for the purchase of the bullet-proof.

In the letter addressed to Akinkuotu, MRA and PPDC asked for the procurement records for the purchase by the NCAA of two BMW 760 Li HSS vehicles with chassis numbers WBAHP41050DW68032 and WBAHP41010DW68044.

Specifically, the groups requested for copies of the procurement and contract records for the purchase of the vehicles, including: evidence of budgetary allocation for the procurement process; the procurement plan for the purchase of the vehicles; evidence of advertisements of the planned purchase in various newspapers, the NCAA website, among others.

And as the Senate resumes plenary today after a two-week break, there are no indication that the crises rocking the aviation industry would be among issues on its agenda.

A close source told The Guardian that the initial plan to quiz Oduah and chief executives of Aviation parastatals over the state of the nation’s aviation sector, is not listed in today’s Order Paper.
http://www.ngrguardiannews.com/index.php/news/426-national/136345-fg-may-sack-workers-in-ncaa-others-over-bulletproof-cars
PoliticsRe: Govt Bans Tax Contractors In States, Igp To Enforce Policy by karlmax2(op): 7:57am On Oct 22, 2013
Tinubu's Alpha-beta should take note
PoliticsGovt Bans Tax Contractors In States, Igp To Enforce Policy by karlmax2(op): 7:54am On Oct 22, 2013
GOVT BANS TAX CONTRACTORS IN STATES, IGP TO ENFORCE POLICY
  Monday, 21 October 2013 22:54
Written by Mathias Okwe, Assistant Business Editor, Abuja

•  Moves to end multiple taxation
•  Bars federal MDAs from collection

IT is now a crime for any state in the country to engage anybody or an organisation other than the Board of Internal Revenue Service (BIRS) to collect approved taxes.
  These taxes are to be published soon by the Joint Tax Board (JTB), an umbrella body of all tax jurisdictions of the three tiers of government in the country.
  The new policy, which is with immediate effect, will henceforth attract serious penalties for any state that contravenes it. Accordingly, the JTB has been instructed to “immediately monitor compliance or otherwise by all tax authorities and report cases of infraction to the National Economic Council (NEC) for action.”
  This is one of the high points of the new road-map for the implementation of NEC’s resolutions on harmonisation of taxes and levies across the federation developed following complaints  to the Federal Government by operators of the real sector under the aegis of Manufacturing Association of Nigeria (MAN) in the country that the multiplicity of taxes and levies country-wide numbering over 79 were impinging on their expansion and was equally responsible for the shutdown of some businesses in the country.
  The implication of the new policy to states and the Federal Capital Territory (FCT) Administration is that it will lead to downturn in their internally-generated revenue (IGR) which at the moment is buoyed by the appointment of tax contractors who in most instances are not tax professionals and who introduce all manner of levies to raise revenue for the states. 
  Normally, the compensation for these contractors is based on a percentage, hence the more revenue they raise, the more their level of reward. This understanding is the attraction for the contractors to introduce illegal levies and employ thugs who sometimes manhandle citizens to force compliance.
  The immediate past Executive Chairman of the Federal Inland Revenue Service (FIRS), Mrs. Ifueko Omogui-Okauru, campaigned vigorously against the syndrome and even sought a law to outlaw the practice which normally renders the statutorily recognised tax administrators in the states redundant and leaves tax-payers at the receiving end.
  Stakeholders, comprising Federal Government’s representatives led by the Co-ordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala and state finance commissioners as well as representatives of local councils in Nigeria, met yesterday to adopt the tax policy in Abuja.  
  The policy stated in part: “Tax authorities should desist from engaging the services of consultants, and agents to assess and collect taxes and levies listed in the Taxes and Levies Act as this is in contravention of Section 2(1) of the Act. States should be strongly advised to discontinue this action immediately.”
  Another major outcome of the new tax road-map is the resolution banning Federal Ministries, Department and Agencies (MDAs) from collection of taxes and levies because this is a violation of the Taxes and Levies Act.
   The resolution said: “Mr. President is to issue an Executive Order to all federal MDAs to stop collection of taxes and levies in violation of the Taxes and Levies Act and also directing the Inspector-General of Police to dismantle all road-blocks across the federation for tax collection. Commissioners of Police will be required to ensure compliance within states.”
  This action, under the road-map is a short-term measure and is expected to be concluded by the end of 2013. To enforce this, the NEC Secretariat is mandated to work with the Head of Service and the Office of the Accountant-General to prepare the draft Executive Order and a memo for the Vice President to convey the decision of NEC to the President.
  Okonjo-Iweala had earlier while disclosing the discussion of the review resolution appealed for the understanding and co-operation of the states in the final adoption of the resolution, saying that the scourge of multiple taxation was harmful to the nation.
  She gave a background to the committee’s task and the expected outcome of its assignment: “As we all know, the issue of multiple taxation is one, which has been on the front-burner for many years now in Nigeria. Despite several attempts by the government to tackle this issue, it has remained unabated - affecting both big and small businesses and the movement of goods and services in the country.
  “This is particularly harmful to the economy because multiple taxation increases the cost of doing business in Nigeria, discourages local trade and investment and also gives a negative perception of the Nigerian business environment to foreign investors. According to the MAN report, some states have as many as 97 different taxes, levies and charges that are imposed on businesses. This is simply not economically viable - the costs to the government of administering these various taxes and the costs to business of paying these taxes outweigh their benefits to both the private businesses and the government. A recent World Bank report shows that for every 100 naira that businesses have to pay in taxes, they pay about 35 naira in compliance costs. This is a waste of capital that could be reinvested in these businesses to grow them and create more jobs for our economy. By streamlining and harmonising taxes across the federation, we would increase Nigeria’s productive potential.
  “In addition, the multiplicity of taxes on the transportation of goods impairs the integration of internal markets and the establishment of a fully integrated economic space within Nigeria. By impairing the integration of the national market, these mobile levies also reduce competition between companies located in different states in Nigeria. With increased competition, we could bring down prices for consumer goods produced by these companies and make our local companies and exports more competitive in the global market.
  “The implementation of these recommendations will not only increase economic efficiency but also make enforcement simpler. Reducing the total number of taxes paid, increasing transparency as to how and what to pay, and facilitating procedures for filing taxes, will be essential to reducing high compliance costs and in so doing, increase Nigeria’s tax compliance rate and also the revenue. This is going to be a historical piece of work. We are very happy to embark on it because it is something that needs to be done. I know that uncertainty in the tax environment makes it difficult for businesses to thrive. Therefore, we have to have a transparent process that makes it easy for people to know what taxes and levies to pay and to harmonise these activities across the country.”
  Okonjo-Iweala then challenged the stakeholders that they must view the task set before them as an important component of the President’s transformation agenda.
  The Acting Chairman of the FIRS, Alhaji Kabir Marshi and the Secretary, JTB, Alhaji Mohammed Abubakar Lawal, in separate presentations expressed delight at the development and said the new resolution would bring sanity to the tax profession in the country. 

http://www.ngrguardiannews.com/index.php/news/426-national/136351-govt-bans-tax-contractors-in-states-igp-to-enforce-policy
PoliticsNigeria 4 Other Countries Virtually Certain To Join UN Security Council by karlmax2(op): 10:18am On Oct 17, 2013
UNITED NATIONS (AP) — The U.N. General Assembly elects five new members to the Security Council on Thursday and the winners are virtually certain because there are no contested races — Nigeria, Chad, Saudi Arabia, Lithuania and Chile.

Chad, Saudi Arabia and Lithuania have never served on the U.N.'s most powerful body while Nigeria and Chile have both been on the council four times previously.

Security Council seats are highly coveted because they give countries a strong voice in matters dealing with international peace and security, such as Syria, sanctions against Iran and North Korea and the U.N.'s far-flung peacekeeping operations.

The 15-member council includes five permanent members with veto power — the U.S., Russia, China, Britain and France — and 10 nonpermanent members elected for two-year terms.

Seats are allocated by region, and regional groups nominate candidates. There are often hotly contested races. In 2007, for example, a runoff between Guatemala and Venezuela went 47 rounds before Panama was finally offered, and elected, as the Latin America candidate.

This year, there were initially two candidates for a West African seat but Gambia dropped out last week in favor of Nigeria.

To win, each country must obtain support of two-thirds of all General Assembly members present, or a minimum of 129 votes if all 193 members participate.

Because balloting is secret, there is intense lobbying for votes by candidates, even in uncontested races, to ensure they get the minimum number needed for victory.

Winners will assume their posts on Jan. 1 and serve through the end of 2015.

The five winners on Thursday will replace Azerbaijan, Guatemala, Morocco, Pakistan and Togo.

http://bigstory.ap.org/article/un-elect-5-new-security-council-members
PoliticsRe: Fitch Affirms Nigeria’s 'BB-' Rating, Stable Outlook by karlmax2(op): 10:05am On Oct 17, 2013
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PoliticsNigeria Inflation Drops To 8 Percent by karlmax2(op): 10:03am On Oct 17, 2013
The figure is the lowest in five years although experts predicted a lower rate.

Nigeria’s Composite Price Index, CPI, measuring the average change in the prices of goods and services, otherwise called inflation rate, decreased further as expected in September, shedding 0.2 percent from the previous month to reach 8 percent year-on-year basis.
Financial Derivatives Company, FDC, a Lagos-based diversified financial institution, had predicted the rate to drop to about 7.83 percent for the month of September, extrapolating the economic indicators of August.
But Inflation Report for the month released on Wednesday by the Statistician General of the Federation, Yemi Kale, in Abuja, showed that the decline in the headline Index, when compared with the level of the preceding month, was largely attributable to a slower rate of increase in food prices, as the recent harvest season continued to constrain rising food prices.
The Report showed further that after trending lower in the first half of the year (from 11.3 percent in January to 5.5 percent in June), the core sub-index again trended upwards for the third consecutive month, while the rate of increase was tempered by moderations in the “housing, water, electricity, gas and other fuels” division as well as the “furnishings, household equipment and household maintenance” division.
In the month under review, the NBS report revealed that the headline index increased by 0.75 per cent on month-on-month basis, an increase of 0.5 percentage points from 0.25 per cent recorded in August, indicating the first uptick in the CPI on a monthly basis in four months.
A further analysis of the CPI trend revealed that the urban composite CPI was recorded at 147.9 points in September, indicating an 8 percent increase from levels recorded in September 2012, though 0.4 percentage points lower than the 8.4 per cent recorded in August this year.
The NBS stated that the percentage change in the average CPI for the 12-month period ending September 2013 over the average of CPI for the previous 12-month period was recorded at 9.5 per cent, lower than the average 12-month rate of change of 9.8 percent recorded in August.
It also reported that the corresponding 12-month year-on-year basis average percentage change for the urban index was 10.4 per cent, while the corresponding rural index was recorded at 8.8 percent.
A further analysis of the country’s food index, showed that in the month under review, the rate of increase in food prices moderated for the second consecutive month, as produce from the on-going harvest continued to put downward pressure on the food sub-index with the 9.4 per cent rate recorded in September, representing 0.3 percentage points lower than 9.7 per cent recorded in August.
On a month-on-month basis, however, the food sub-index was reported to have increased by 0.9 percent in September, up from 0.5 per cent recorded in August by 0.4 percentage points, with the highest price increases recorded in the oils and fats, and bread and cereals classes, amongst others.
The report also showed that the average annual rate of rise of the food sub-index for the 12-month period ending in September 2013 was 10.1 per cent when compared with the same period in 2012. This was marginally lower than the 12-month average year-on-year change for the period ending in August (10.2 percent).
“All items less farm produce” or core index, which excludes the prices of volatile agricultural products, increased for the second consecutive month in August to 7.2 percent, up by 0.6 percentage points from the 6.6 per cent recorded in July,” the statistics agency stated.
A further decomposition of the core sub index of the “all items, less farm produce” or core index on a month-on-month basis, showed that it increased for the third consecutive month in September to 7.4 per cent, up by 0.2 percentage points from 7.2 per cent recorded in August, compared to the month-on-month basis, which showed that the core sub index was recorded at 0.6 per cent, lower than 1.3 percent recorded in August by 0.7 percentage points.
The Bureau pointed out that the increase in the core sub-index was as a result of price increases across various class items particularly actual and imputed rental prices,books and stationeries as a result of the start of the new school year, and accommodation services, amongst others.
The average 12-month annual rate of rise of the index was recorded at 8.9 per cent in September 2013, down 0.5 percentage points from 9.4 per cent recorded in August 2013.

http://premiumtimesng.com/business/146749-nigeria-inflation-drops-8-percent.html?utm_source=rss&utm_medium=rss&utm_campaign=nigeria-inflation-drops-8-percent
PoliticsRe: Fitch Affirms Nigeria’s 'BB-' Rating, Stable Outlook by karlmax2(op): 9:59am On Oct 17, 2013
Nigeria economy is growing and remains strong even in the mist of adversities ,hate ,distractions.

While alot of foreigners and wise young Nigerians are taping into this current government policies, the. Ingnorant once are busy insulting the president on the internet.
PoliticsFitch Affirms Nigeria’s 'BB-' Rating, Stable Outlook by karlmax2(op): 9:45am On Oct 17, 2013
17 Oct 2013



•Inflation rate slides to 8%

By Obinna Chima   and James Emejo 

Fitch Ratings has affirmed Nigeria's long-term foreign and local currency IDRs and senior unsecured bond ratings at 'BB-' and 'BB' respectively.

The global rating agency also stated that the country’s outlook remains stable.
A statement from Fitch yesterday also affirmed Nigeria's short-term foreign currency IDR at 'B' and the country’s ceiling at 'BB-'.

Fitch’s rating on Nigeria came just as it put the world’s largest economy, the US, on notice for a possible downgrade as lawmakers on Capitol Hill reached a compromise with the White House yesterday to resolve the country’s debt ceiling crisis.

Fitch still has the US rated AAA, the highest possible grade, but the country is now on “rating watch negative,” meaning that there is increased possibility of a downgrade in the near future.

According to Fitch, although Nigeria’s Gross Domestic Product (GDP) growth slowed to 6.4 per cent in the first half of 2013, the country’s economic indicators showed resilience in the face of exogenous shocks from the severe flood in 2012 which hit agricultural output; security problems especially in the north earlier this year; and increased oil theft and vandalism; and the consequent repair shutdown which caused oil output to contract for the second year in a row.

Nigeria’s non-oil sector slowed, but still grew by 7.9 per cent in 2012 and 7.6 per cent in the first half of 2013.

Fitch predicted that: “Non-oil growth should pick up in H213 (second half of 2013) as normal weather has resumed and the authorities have responded to security problems.

“Reforms to the electricity and agriculture sectors could start to boost potential growth. Inflation has been in single digits all year, the lowest in five years and the longest stretch of single digit inflation since 2008. Policy rates are unchanged.”
It also stated that the Central Bank of Nigeria  (CBN) had the aim of achieving single-digit inflation and maintaining exchange rate stability, adding that public finance had remained comfortable.

“Fitch estimates a general government deficit of around 1.8 per cent of GDP this year and next. Both oil and non-oil revenues are under-budget and the Excess Crude Account (ECA) has been tapped to compensate. Capital spending also remains under budget.

“The draft 2014 budget plans ambitious fiscal consolidation, with lower oil production and benchmark oil prices and lower spending than the 2013 budget.
“However, Fitch expects that oil production will likely fall short again, and the final budget that emerges from the National Assembly (NA) is likely to be more expansionary,” the global rating agency declared.

Nevertheless, Fitch expected that general government debt would remain stable at just over 20 per cent of GDP, barely half that of the country's peers.

Continuing, Fitch said: "Nigeria's sovereign and overall external balance sheets, current account surplus, debt service ratio and external liquidity are all stronger than 'BB' category medians.

“Foreign reserves rose steadily in early 2013 but have been falling since May due to reduced oil output, prompting ECA draw-down, and global market turbulence, which has reduced foreign appetite for Nigerian paper (though net inflows have continued).

“However, the Petroleum Industry Bill (PIB) remains stalled in the National Assembly. Strong vested interests will make structural reform a continual struggle, especially with elections in 2015.

“Nigeria's ratings remain constrained by weak governance, low per capita income and vulnerability to oil price volatility. The government is responding to the Boko Haram insurgency mainly with security measures.”

Commenting on Fitch’s rating, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said: “This confirms that Nigeria's economy is resilient just like the Nigerian people are resilient.

“What's important about the rating is that while acknowledging all the challenges the economy faces, it points to and applauds the strengths such as progress in the power sector, increased focus on agriculture, strong investment in local manufacturing and other areas."

As an affirmation of Fitch’s assessment of Nigeria’s macroeconomic indicators, the National Bureau of Statistics (NBS) yesterday announced that the country’s composite Consumer Price Index (CPI), which measures the rate of inflation, dropped further to 8.0 per cent in September compared to 8.2 per cent in the previous month.

NBS attributed the 0.2 per cent drop in inflation to largely slower rate of increase in food prices as the recent harvest season continued to constrain rising food prices.
NBS, in its latest CPI data, which was released by the Statistician-General of the Federation, Mr. Yemi Kale, stated that prices trended lower in most food classes except for dairy products including milk, eggs and cheese and oils and fats classes, when compared to figures recorded in August.

It stated that the year-on-year rate for the headline index continued to trend downwards from the 9.0 per cent recorded in January.

It noted however that the “core sub-index has trended upwards for the third consecutive month (after trending lower in the first half of the year). The rate of increase was however tempered by moderations in the housing, water, electricity, gas and other fuels division as well as the furnishings, household equipment and household maintenance division.”

It added: “In September, the headline index increased by 0.75 per cent month-on-month, an increase of 0.5 percentage points from 0.25 per cent recorded in August. This was the first uptick in the CPI on a monthly basis in four months.”

Meanwhile, urban inflation increased by 8.0 per cent to 147.9 points in the period under review, compared to previous levels in September last year.

Notwithstanding, the urban index for the month was also 0.4 percentage points lower than the 8.4 per cent recorded in August, while the corresponding Rural National CPI recorded an 8.0 per cent year-on-year change in September, lowering marginally from the 8.1 per cent in August.


http://www.thisdaylive.com/articles/fitch-affirms-nigeria-s-bb-rating-stable-outlook/161853/
PoliticsNational Conference: Political Parties Have No Business Coming – Odumakin by karlmax2(op): 2:48pm On Oct 15, 2013
Odumakin has reiterated his organization’s support for a national conference only if it will be devoid of the influences of political parties, claiming the political parties as presently constituted will create a diversion at the conference.

Speaking on Sunrise Daily, he reiterated that people need to understand the importance of this conference for the future of Nigeria as a lot of people are mistaking it for the constitutional conferences held in the past.

According to him, they are two different things. While the constitutional conference is political with a sole purpose of drafting a constitution, the national conference is a business of the ethnic nationalities to sit and first agree if they want to continue to live together and then decide under which constitution. He noted that this is the first time it is going to happen in the history of the country and therefore should not be politicized.

He claimed “there is nobody that is in any party who does not have a nationality where he or she comes from. In fact, when the Soviet Union collapsed, everybody went to his state; they didn’t collapse into trade unions or political parties but into their nationalities. Other interest groups can be represented but mainly we need a national conference of ethnic nationalities”.

Odumakin believes Nigeria is on track with the call for national conference claiming that all scepticisms expressed so far by Nigerians have not questioned the need for the conference but the sincerity of the facilitator.

Allaying fears generated by makeup of members of the advisory committee, he says “if you look at the men and women who have been put in this committee, most of them are people who have track record”. He cited examples of the Chairman of the committee, Senator Okurounmu who between 1999 and 2003 as a senator sponsored a bill calling for the national conference.

On the removal of the word “sovereign”, He called on Nigerians not to jump the gun but allow the advisory committee finish their job and present their recommendations. He also stated the suggestions of the Afenifere to the committee on fulfilling their mandate.


http://www.channelstv.com/home/2013/10/15/national-conference-political-parties-have-no-business-coming-odumakin/?utm_source=&utm_medium=twitter
PoliticsRe: Jonathan Commissions Geregu-II Power Station by karlmax2: 2:13pm On Oct 03, 2013
Symphony007: So you all know that i'm not a bitter, constant persimist or jonathan hated. I am currently watching the commissioning of the geregu power station in kogi by pres. Jonathan. It is quite an impressive facility and will no doubt give a boost to our power situation. When good things happen in our country, we should be glad but constructive critisim should not be looked upon as being anti-jonathan.

You can watch it live on NTA or AIT.
true confession! before 2015 people like you would be screaming for GEJ. This is a man u and your likes on nairaland would have nigerians belive his not working but lies don't last long the truth always prevails.
PoliticsWorld Bank To Invest $1Billion In Nigeria’s Power Sector by karlmax2(op): 12:35am On Oct 03, 2013
Posted by: Channels Television Posted date: October 02, 2013

The World Bank has decided to invest in Nigeria’s power sector with the sum of $1 billion.

This grant is expected to accelerate the post privatisation process of the power sector.

The international finance corporation, a member of the World Bank says it will make long term loan financing available to the sector because of the potentials it presents.

This amount is to be shared among three distribution and generation companies that won the privatisation bid.

IFC is set to provide financing to mobilize funds for one power generation company and also planning to invest in another power generation company, with further plans to support up to three power distribution companies. These projects will add 1, 500 MW to Nigeria’s grid and are part of the World Bank Group’s intervention in the sector, which is built into the Group’s Energy Business Plan.

http://www.channelstv.com/home/2013/10/02/world-bank-to-invest-1-billion-in-nigerias-power-sector/?utm_source=&utm_medium=twitter
PoliticsRe: Boko-Haram Shekau Appears In New Video, Says ‘I Am Alive’ by karlmax2: 1:14am On Sep 26, 2013
tmotmo: Boy, I think you don't think before you write, the links are there for you or whosoever. I am also sure the sites the links will take you to were not created by my parent nor yours.

No justification for what Shekau and co. are doing, infact the muslims will be happy if he could be stopped(because 95% of his victims are muslims).

In view of all this the fact that Adoiph Hitler is a catholic christian could not be washed away, mumu check details and stop your religious bigotry.
according to you adolph hitler was a catholic christian!! But it took millions of reaL young christians from france,britain,usa,canada.and a predominately catholiC christian russians to Crush him and his evil nazI beliefs which u and your fellow brianwashed bEings confuse for christianity.. If your religion is peacefull why can't the islamic countries like saudi arabia, iraN,libya,sudaN, syRia,afganisTan,pakistan,somalia etc borrow a leaf from these predominately christian countries that committed both human and financial resources to stop a fellow christian terrorist (hitler) according to you!, to maintain world peace and freedom( which includes ur right to practice. Ur islam)but instead these islamic countries I mentioned are neck deep in sponsoring and protecting terrorists the likes of osama ben ladin (killed in pakistan a muslim country) and shakau( killed in bornu a sharia state in nigeria).
PoliticsRe: ACN/APC Fracas And Security Report In Ado Ekiti by karlmax2: 6:16pm On Sep 20, 2013
amarilo: If it not good for you move to your village. Simples!!!!! Ekiti state cannot be feeding you people all the time. SW is for Yorubas so sud off.
shut up ora isa w
PoliticsRe: ACN/APC Fracas And Security Report In Ado Ekiti by karlmax2: 6:16pm On Sep 20, 2013
amarilo: If it not good for you move to your village. Simples!!!!! Ekiti state cannot be feeding you people all the time. SW is for Yorubas so sud off.
shut up fayemi ora isa
PoliticsRe: SURE-P Is Broke, Kolade Tells Senate by karlmax2: 10:07am On Sep 20, 2013
taharqa: FOOOL. I always laugh when many of u EMPTY HEADS make Assertions in public, and what is worst, with some Swag. But your own mistake here is that you quoted me while insisting on yr right to be fooolish..... So cos SURE-P is supposed to be funded by parts of d 97-65 differential, d NA Assembly wud not make Appropiations for it, right. Gran OLODO!! You certainly do not know, at yr age and afta leaving d Univ, that NO MONEY can be used anywhere in Naija without d express approvals of d NA. You certainly do not know that SURE-P, just like other Invention Funds like UBEC and TETFUND, hv Separate Sub-heads in a proposed budget and MUST be SEPARATELY approved by d NA b4 d various MDAs can begin to access it . You don't know such very simple stuffs about d budgetary process, and you decide to quote me? You no dey fear?? OLODO gan
i dont know why u are engaging dem just allow dem to wallow away in their ignorance.
PoliticsRe: Court Strikes-Out Fashola’s Suit To Stop Jang As Governors’ Forum Chair by karlmax2: 9:59am On Sep 20, 2013
lawyer: Olodo people. Can't you guys read! Withdrawing the Suit is different from striking out the suit! It hadn't been struck out oooo! The level of Negativity on this Nairaland is getting too much! No post makes sense anymore without it ending up in a tribalistic argument and unnecessary beef!
na you be the olodo here is another article this time read it SLOWLY


NGF crisis: Court strikes out Fashola’s suit against Jang
on September 20, 2013 at 12:22 am in News
By Ikechukwu Nnochiri
ABUJA—Justice Peter Affen of an Abuja High Court at Jabi, yesterday, struck out the suit that was filed against the factional chairman of the Nigeria Governors Forum, NGF, Mr Jonah Jang, by Governor Babatunde Fashola of Lagos State.
The action of the court followed decision of the plaintiff to withdraw the suit which he filed on June 5.
It will be recalled that Fashola had on July 17, filed a withdrawal application through his lawyer, Mr Femi Falana, SAN.
He had in the suit, urged the court to stop the Plateau State Governor, Jang, from parading himself as the factional chairman of the NGF.
Aside Jang, others who were listed as 1st to 4th defendants in the suit were the Director General of the NGF, Asishana Bayo Okauru, the factional Sole Administrator of the body under Jang, Mr Osaro Onaiwu and the Board of Trustees of the NGF.
He specifically prayed the court for order of injunction restraining Jang from using the name “Nigeria Governor’s Forum” in respect of any other organization that does not have the 36 governors as members and/or in any other manner inconsistent with the Constitution of the Governor’s Forum.
He equally urged the court to restrain one Mr Osaro Onaiwu (3rd defendants) from parading himself as the Sole Administrator of the Nigeria Governor’s Forum in any manner whatsoever and howsoever.
In a 19- paragraphed affidavit that was personally deposed to by Fashola himself, he told the high court that all the governors had met on May 25, 2013, and participated in a voting process that saw the re-election of Governor Amaechi as the chairman of the NGF.

http://www.vanguardngr.com/2013/09/ngf-crisis-court-strikes-out-fasholas-suit-against-jang/
PoliticsRe: 2015: Why I’m Not Supporting Jonathan- Amaechi…Blasts Uduaghan, Okonjo-iweala by karlmax2: 9:28am On Sep 20, 2013
ibromish: Amaechi has the WILL to turn Rivers to London but the Jesus christ of Okrika (JCO) won't let him,
destruction of waterfront to build SCHOOL (for Rivers indigenes not foreigners) became a hardluck for Faka J. how else do you want him to help you, if you won't ASK why much noise from JCO, Isn't education the BEST LEGACY?
the abonima whalf water front he distroyed in his 1st year in office has he developed it and tuned it to london?
PoliticsRe: 2015: Why I’m Not Supporting Jonathan- Amaechi…Blasts Uduaghan, Okonjo-iweala by karlmax2: 9:15am On Sep 20, 2013
executinal: This is Amaechi concern, if Nigeria is moving forward or not is never his concern rather that money... money and money. Let share the NATIONAL CAKE
money wey okonjo hold tight!! Make dem come collect na. That is all they care about sharing formula. Which okonjo has refused to make it happen for them hence all this bruhaha

Ameachi and his gang should know its not business as usual anymore .
PoliticsRe: Court Strikes-Out Fashola’s Suit To Stop Jang As Governors’ Forum Chair by karlmax2: 8:33am On Sep 20, 2013
chizel: I have always known that nothing good will ever come from fashola,i so much hate him that if it is possible for me to invoke death on him and it will kill him instantly I wuld hv done that long ago.these are the kind of leaders we hv,thinking after acting and for those of u shouting hw could 16 be bigger than 19,have u asked yourself this question,why is it that since after the election that the Amaechi group has never been able to have their so-called 19members in attendance during their meeting?the last meeting they had,they were 12 of them in attendance with 3 gorvernors being represented by their deputies making it 15,so where are the remaining 4?
i have been asking the hypocrites this same question but non of them has even attempted to answer it. While the jang they claim has 16 votes had 18 governors in attendance in his own NGF meeting. Fashole knows amaechi did not win the election ,after he realised this he ran back to court to withraw the case so that he wont be disgraced but jangs lawyer refused and asked the court to strike out the case which the court just did.
PoliticsRe: ACN/APC Fracas And Security Report In Ado Ekiti by karlmax2: 8:14am On Sep 20, 2013
amarilo: You all poster are not from south west so why taking panda oil for anode man headache. If what is happening in Ado is not good for you move back to your village. Simples. Show us pishure o'jare.
look at this tout and who told u were not from sw. U apc sycopants thinks anybody that is against ur 419 leaders are not from the sw,u fools have not learnt ur lessons from the last election in ondo were your so called progressives came a distance third. Ekiti would be another lesson for u guys. Any attempt for fayemi and his thugs to rig this election would be met with fire. Touts parading their selves as progressives. The sw people are now aware of your deciets

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