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Equity transactions on the Nigerian Stock Exchange (NSE) rebounded yesterday, as virtually all the blue chip companies appreciated in price, causing the All-share index to appreciate by 1.3 per cent. Yesterday, market capitalisation of listed equities rose by N174billion from N13.589trillion posted on Wednesday to N13.763trillion. Similarly, the All-share index, which measures the performance of listed companies, improved by 488.84 points or 1.3 per cent from 38,187.28 to 38,676.12. Seplat topped the gainers’ chart with 23.78 kobo to close at N650.00 per share while FO followed with 2.10 kobo to close at N44.10 per share. International Breweries added 2.00 kobo to close at N56.99 per share. WAPCO added 2.00 kobo to close at N49.10 per share. Guaranty Trust Bank also garnered 1.54 kobo to close at N42.34 per share. Flour Mills added 1.45 kobo to close at N30.45 per share. Conoil gained 1.40 kobo to close at N29.40 per share. Zenith Bank garnered 1.30 kobo to close at N27.32 per share. Dangote Flour gained 1.29 kobo to close at N14.04 per share. Nigerian Breweries appreciated by 1.00 kobo to close at N136.00 per share. National Salt Company of Nigeria added 0.99 kobo to close at N20.79 per share. Cadbury appreciated by 0.55 kobo to close at N15.50 per share. United Bank for Africa garnered 0.47 kobo to close at N11.24 per share. May & Baker also gained 0.25 kobo to close at N2.75 per share. Nestle topped the losers’ chart with 55.99 kobo to close at N1,500 per share. Mobil followed with 6.80 per share. PZ Cussons lost 0.80 kobo to close at N20.40 per share. Custodian and Allied Insurance shed 0.19 kobo to close at N3.79 per share. NEM depreciated by 0.08 kobo to close at N1.57 per share. Neimeth also shed 0.03 kobo to close at N0.66 per share. Meanwhile, Diamond Bank was investors’ delight yesterday with 169 million shares worth N314million. First City Monument Bank followed with 163 million units valued at N297million. TransNational Corporation accounted for 144 million shares valued at N241million. Skye Bank traded 89 million shares worth N50million. Sterling Bank recorded 37 million shares worth N45million. http://www.akelicious.com/2018/01/stock-market-all-share-index.html
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After just seven months together, Nicki Minaj and Nas have called it quits, according to TMZ. The site reports that long distance took a toll on the couple, as they have been living in different cities for most of their relationship. Things reportedly didn’t end on bad terms between the two, although TMZ‘s source says that we shouldn’t expect them to go on being the best of friends, either. This sad breakup news comes just days after a report claimed that Nicki was pregnant with the rapper’s child. The shocking report, which came from MediaTakeOut.com, said that Nicki found out about her baby around Thanksgiving and was planning to announce the news around the time of the Grammys at the end of January. However, TMZ says there is no truth to the baby rumors, and, apparently, the breakup actually went down a few weeks ago. It was a fairly short-lived romance for Nicki and Nas, who were first linked in the spring. After initial reports broke that Nas was trying to win Nicki over following her breakup from Meek Mill, the dating rumors intensified when they cozied up for an Instagram photo in May. Later that month, Nicki admitted to Ellen DeGeneres that she and Nas had been having sleepovers. However, she revealed they hadn’t actually slept together at that point because she was trying to be celibate for a year. No word on if that worked out or not, but by June, it definitely seemed like these two were the real deal. Unfortunately, they just couldn’t make it last. http://www.akelicious.com/2018/01/breaking-nicki-minaj-and-nas-breakup.html
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The Federal Government may increase the price of Premium Motor Spirit (PMS), popularly called petrol to a minimum price of N180 and above anytime soon. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu who dropped the hint in Abuja on Thursday, said the current price of N145 per litre can no longer be sustained. In a presentation he made to a joint committee on Petroleum (Downstream) of the Senate and the House of Representatives, the Minister said the landing cost for petrol stood at N171 per litre. According to him, the Federal Government, through the Nigerian National Petroleum Corporation (NNPC) has been bearing the cost of N26 per litre, representing the difference between N171 and the current official price of N145 per litre. Insisting that independent marketers would not be able to import the product at the current foreign exchange rate, saying the marketers were able to sell for N145 per litre when the exchange rate was N285 per Dollar. The Naira presently exchanges for N365 per Dollar. “We now have to go back and find the solution to this problem in order to ease supply gaps and ensure availability of the product at all times,” the Minister said. Kachikwu, however, proffered three alternative solutions to pump price increase: getting the Central Bank of Nigeria (CBN) to introduce a modulated foreign exchange rate specifically for importers of the product; giving the marketers significant tax adjustments to enable them to absorb the high cost; and a plural pricing system whereby the NNPC would continue to sell at N145 through its numerous outlets while the marketers are allowed to fix their own price. The Minister identified causes of the last fuel scarcity to include diversion of products, logistic constraints, bottleneck associated with clearance, bad road network, insufficient product reserves, smuggling through land borders, supply gaps and enforcement challenges. He stated that the marketers stopped importing fuel since October 2017, as a result of their inability to access foreign exchange from the CBN, leaving only the NNPC to import the product, which has left a wide gap between demand and supply. Dr. Kachikwu lamented that the price of petrol rises with the rise in the price of crude oil in the international, stressing that in such instances, Nigeria spends more to import refined products. In effect, any rise in crude oil price increases the amount the country spends on the importation of fuel. To address the situation, the Minister canvassed the opening up of production lines, specifically the refineries, which he said, would address supply gaps that usually leads to incessant scarcity. “Rising prices in international market affecting domestic prices. What the country needs is to have the refineries working. It’s a shame that after 40 years, Nigeria cannot produce its domestic consumption. “It would take 18 months to address problems of scarcity, price stability and other issues relating to the supply of petroleum products. The pipelines should be concessioned to allow private participation. “There is huge infrastructure deficit in the system because the NNPC ought to be distributing products through their pipes but most of the pipes are damaged. The has necessitated the use of trucks to distribute the product across the country. “Most importantly, fixing the refineries should be the lasting solution. To discuss and address the issues, we have to seek approval from the President,” the Minister said. In his own submission at the hearing, the Group Managing Director of the NNPC, Dr. Maikanti Baru said the last scarcity was caused by rumours of price increase in the media that led marketers into hoarding the product in anticipation of higher prices. Said he: “So there was a frenzy in the movement of products to the hinterland and diversion of products going to the hinterland in anticipation of the increase in price. “The NNPC, or the Petroleum Products Pricing and Regulatory Authority (PPPRA) had no mandate to increase pump price.” The GMD said that the strike action embarked upon by PENGASAN in December was partly responsible for the scarcity, saying issues raised by the association for going on strike had nothing to do with the NNPC. According to him, the strike triggered panic buying by members of the public leading to scarcity of the product. He added that although PENGASAN called off the strike on December 18, the damage had already been done. Baru identified other factors responsible for the last scarcity to be the higher price at which petrol is sold in neighbouring African countries, citing Cameroun where he said petrol sells for N300-N400 per litre. Stating that the NNPC has enough product to bridge supply gaps, Baru insisted the corporation has sufficient stock to go round even without importation. The GMD alleged that about 4500 distribution trucks failed to return to depots to complete their distribution formalities during the scarcity period, meaning that the trucks were diverted. “There was no supply gap because we have Direct Sale Direct Purchase (DSDP) agreement with 10 consortia involved. Three of them rejected their cargoes, which were reallocated to others.” The GMD also hinted that the refineries in Kaduna and Port Harcourt were being reactivated and restreamed and that they have been producing three million litres daily. Baru also cited disagreements among the various private operators in the sector as part of the problems that threw up the scarcity, adding that the marketers were busy trading allegations of sharp practices. He said: “For instance, IPMAN said MOMAN and DAPPMA were charging over N133.28/litre but when we asked them to provide evidence of overcharging, they could not provide any. If proven, NNPC would have withdrawn the licenses of the errant bodies.” The Executive Secretary of the Department of Petroleum Resources (DPR), Mordecai Baba Ladan told the committee that at the outset of scarcity, the DPR rolled out its machinery across the country, with the directive from the Minister that defaulters be dealt with. “Almost every marketer/filling station across the country are defaulters. And if all defaulting filing stations were to be shut down, there may not be anyone left. “They horde, sell above official price and also divert products. But we have stepped up our monitoring process now that the NNPC is the sole importer but the corporation cannot do it alone. Virtually all the independent marketers that attended the hearing alleged multiple charges by the Nigerian Port Authority (NPA), NIMASA and some state governments charging 3 kobo per litre wharf landing fee. The Executive Secretary of MOMAN, Mr. Obafemi Olawore said the N800 billion owed marketers by the Federal Government has made it difficult for them to obtain credit from the banks to import the product. He appealed to the government to give key players major roles in the importation business, saying that shutting down errant filling stations won’t solve the scarcity problem but rather aggravate it. Olawore called for total deregulation of the sector to allow more participants from the private sector. Curiously, however, the chairman of the joint committee, Senator Kabiru Marafa who had vowed to grill the Minister and the GMD over secret subsidy payment by the government. Briefing newsmen at the National Assembly on Friday, Marafa had raised questions on who pays the difference of the N26 in the landing cost of N171 against the pump price of N145. The lawmaker said there were indications that a subsidy of N26 was being paid on every litre of petrol sold in the country and wondered who has been paying the subsidy. Marafa had said, “If there is subsidy payment, then who approved it and how much has been paid out as the subsidy so far. If you want to provide the subsidy, it should come through the National Assembly but we have not received any request for subsidy payment from the Executive arm.” Stating that about N10 trillion has been paid out as the subsidy, Marafa had lamented that stakeholders in the Petroleum industry, particularly the NNPC, have not been transparent in the running of the sector. He said these were some of the issues the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, Baru and others would be made to explain to Nigerians at the January 4 hearing. “We are going back to the same circle where only a few persons benefit from subsidy payment at the expense of the Nigerian people,” Senator Marafa had said. Other members of the joint committee are Senators Tayo Alasoadura, Mao Ohuanbunwa, Sabi Abdullahi, Foster Ogola, Yahaya Abdullahi, Rose Oko, Philip Aduda among others. https://www.google.com.ng/amp/thenationonlineng.net/fg-increase-petrol-price-litre/amp/
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Transmission Company of Nigeria ( TCN ) regrets to report another System Collapse at about 14.19Hours yesterday . Preliminary information from NCC indicated that the tripping of Odukpani-Ikot Ekpene 330kV line, cut off generation from Odukpani Power Station to the grid. Restoration of the grid has reached advanced stage. TCN has also commenced investigations to determine the exact cause of the system disturbance and the outcome will publicised. Its General Manager, Public Affairs, Ndidi Mbah made this known in a statement yesterday. The system disturbance happened at a time when work on the Western Gas Pipeline by NGC which caused system collapse at about 21.17Hours yesterday, is yet to be completed. The grid would have withstood the Odukpani infraction, if generation along Lagos Region were available. NGC indicated that a contractor has been mobilised to reconstruct the affected segment of the Western Gas Pipeline, so that gas supply to Omotosho, Egbin, and Olorunsogo I and II can be restored. According to NGC the work would be carried out day and night and is expected to be completed within 24 hours. TCN noted that with the support of the Federal Ministries of Power and Finance, it has embarked on the implementation of Transmission Rehabilitation and Expansion Program that seeks to expand, rehabilitate and stabilize the Grid. TCN appealed for patience and understanding. http://www.akelicious.com/2018/01/tcn-records-system-collapse.html
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A blaze has destroyed every vehicle in a 1,600-capacity car park serving the British city of Liverpool’s indoor arena, according to police. The Liverpool International Horse Show, taking place in the northwest English city’s neighboring 11,000-seater arena, was cancelled due to the fire, which broke out after dark on Sunday, World News reported. Nobody has been seriously injured in the blaze, the local Merseyside Police said, while all horses are accounted for. “Initial investigations indicate that an accidental fire within a vehicle caused other cars to ignite,” the force said, adding that “We believe that all vehicles parked in the car park have been destroyed and advise owners to contact their insurance companies.” Liverpool Mayor Joe Anderson said the blaze started in a four-wheel drive vehicle on the third level. Horses which had been on the first level were moved to the arena, he added. A reception center was set up for people unable to get home due to the fire and locals volunteered to take in or transport those left stranded. “The people of Liverpool never let us down with their generosity and everyone has now been accommodated or given a lift,” Anderson added. All people and horses involved in the show were counted safe, the arena said. The area was evacuated along with some nearby apartments due to the smoke. Twelve fire trucks were sent to tackle the blaze. http://www.akelicious.com/2018/01/1600-vehicles-burn-in-uk-parking-lot.html
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Ekiti State Governor, Ayo Fayose, has vowed not to leave any uncompleted projects behind by the time his tenure expires on October 15. Addressing the people of the state in a broadcast to mark the New Year on Monday, Fayose said he is working assiduously to complete the projects and inaugurate them for public use. Thanking the people of the state for their support since the commencement of his second tenure in office, the governor promised to embark on a thank-you tour to all parts of the state later in the year before he leaves office. He also promised to clear all the arrears of salaries and allowances owed civil servants before the expiry of his tenure. Fayose promised to ensure the continuity of the Urban Renewal progamme of his administration to give the state a face of modernity. He said: “I have opened up the horizon of Ekiti State from a rustic countryside to an emerging urban centre in the provisions of infrastructure notably in road construction, public buildings and socio -economic transformation generally. “During my first tenure in office, I started the dualization of the Ado-Ekiti major motor ways. My government, during this second term, has been able to extend the dualization of roads to most of our local government headquarters. “The icing on the cake is the construction of the multibillion Naira 1.3km Ado-Ekiti overhead carriage which now links Fajuyi park, flying over the Okesa market to the Ojumose road axial. “I am also happy to remark that the public building projects which we started during my first tenure in places like the Government House, the State Secretariat and the Trade Fair Arena, to mention but a few, have continued with a new Governor’s office, a befitting complex for the judiciary and a new residential apartment for the Speaker of the House of Assembly. “My Government will complete these projects including the ultra-modern market in Ado-Ekiti.” On workers’ entitlements, he said: “In the New Year, we shall continue in that same style and redouble our efforts as I do not want to leave Ekiti Government House as debtor of salaries. “I am not also unmindful of the yearnings and aspirations of our people in other areas of government responsibilities but we can only do one thing at a time. “The insufficiency of today will turn out to be abundance of tomorrow if we can improve on our efforts and dedication. “Let us keep hope alive and continue to support government in all its endeavours.” Fayose also expressed gratitude to the opposition for putting government on its toes, saying the constitution guarantees freedom of expression. http://www.akelicious.com/2018/01/i-wont-leave-uncompleted-projects.html
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One Anuoluwapo Joshua, a 28-year-old woman has been arrested by the police in Ogun State for allegedly stealing a three-year-old baby, identified as Akamaka Patience Francis, during a monthly Holy Ghost Congress at Redemption camp. The camp is located along Lagos-Ibadan Expressway. Abimbola Oyeyemi, Ogun state police spokesman, said in a statement on Sunday that Joshua stole the child in July, last year while mother went to pack her clothes in the new auditorium of the church. According to Oyeyemi, an Assistant Superintendent of Police, the suspect brought the child back to the church three days ago during the children end of the year party from where she was sighted. The police hung around until the suspect came for the child, and was immediately arrested. “The suspect allegedly stole the child on July 2017, during the monthly Holy Ghost congress of the Church, but luck ran out on her on December 29, when the child was sighted inside the youth center at RCCG Redemption camp during the party”. “On receiving the information, the DPO, Redeemed division, SP Olaiya Martins led detectives to the center where they waited until the end of the program, when the suspect came out to pick the child and was promptly arrested.” Quizzed, she confessed to the crime and said she lured the baby out of the parent’s sight and took her to Ofada in Obafemi Owode local government of the state, where she’s been nursing the baby. “Investigation further revealed that the suspect had earlier got pregnant for somebody in Lagos, but travelled to the north, where she claimed she was delivered of a baby girl. “When she came back from the north, she didn’t come with the baby, which made the man who impregnated her to put pressure on her to bring his child. “But, she later informed her relatives that she was going to Nasarawa state to bring the child, and instead went to the redeemed camp, where she stayed for some days, before succeeding in stealing the child.” However, Ahmed Iliyasu, Ogun state police commissioner, has ordered the immediate transfer of the suspect to the state criminal investigation and intelligence department for further investigation and prosecution. http://www.akelicious.com/2018/01/woman-steals-three-year-old-baby-at.html
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President Muhammadu Buhari was joined by Governor Tanko Al-makura of Nasarawa State, Minister of Education, Adamu Adamu, and Group Managing Director of NNPC, Dr. Maikanti Baru, to pray for the quick recovery of his son, Yusuf who had a bike crash Tuesday night, around Gwarimpa in the Federal Capital Territory, Abuja. The prayer was led by the Chief Imam of Aso Rock Mosque, Sheik Abdulwahid Suleiman at Friday’s Jumat Service. Others in the prayer session were presidential aides, villa staff among others. Suleiman, who urged the first family to accept the tragedy in good fate, again prayed for God’s guidance and protection of the first family and all Nigerians, also prayed for peace and tranquillity in the country. http://www.akelicious.com/2017/12/buhari-others-pray-for-yusufs-quick.html
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A newly married lecturer of the Abia State Polytechnic, Aba, Abia State, identified as Daniel has been reported dead. Daniel reportedly died some distance from popular Ukwuapu, Umule road in Osisioma local government area of the state. Our correspondent gathered that the deceased was going home when a loose iron from a fast moving truck fell off and hit him. According to eyewitnesses, the late lecturer was alighting from a commercial tricycle when the incident happened. “The deceased, who married his long- time girlfriend early this month, planned to travel out of the country to celebrate the Christmas and New Year celebration with his family,” a family source said. http://www.akelicious.com/2017/12/abia-state-polytechnic-lecturer-dies.html
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Crude oil price has risen by $20 per barrel above Nigeria’s benchmark of N45 a barrel in the 2018 proposed yearly budget.In the proposed N8.6 trillion ‘Budget of Consolidation’ presented by President Muhammadu Buhari to the National Assembly for approval, crude oil benchmark price was put at an average of N45 per barrel, based on low benchmark price of $35, medium ($45) and high ($55) scenarios, while production was set at 2.3 million barrels per day. At the close of Tuesday trading hour, global benchmark, Brent crude oil price was $65.25 a barrel, while the West Texas Intermediate (WTI) settle at $58.47 per barrel.What this means is that, at Nigeria’s production peg of 2.3 million proposed in the 2018 budget, the country will be making an excess crude oil earnings of $46 million per day (N16.5 billion), if crude oil price remain at $65 a barrel in 2018. Brent crude oil has remained at above $60 a barrel level in the last few days, sparking talks that this could be the new floor under oil prices and that $70 a barrel oil in short term is now not only a producers’ wildest dreams, but a reality.This also shows that the crude oil production capping embarked upon by members and non-members of the Organisation of the Petroleum Exporting Countries (OPEC) is yielding positive result. For example, as of November 2017, the OPEC and participating non-OPEC producing countries achieved an impressive highest conformity level of 122 per cent, following the pattern of high performances in the past months.This, OPEC said is coupled with the aforementioned amendment of the Declaration of Cooperation, is an unequivocal demonstration of the steadfast commitment of participating countries to continue working towards the achievement of the goal of rebalancing the market and putting it on a sustainable stable footing. According to OPEC, The Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) expressed great satisfaction with the results and sustained level of high conformity with the voluntary production adjustments, and encouraged all participating countries to achieve full conformity for the benefit of producers and consumers alike. The Minister of State for Petroleum Resources, Ibe Kachikwu, Nigeria was capable of meeting and exceeding the 2.3 million barrels per day crude oil production and oil revenue benchmarks in the proposed 2018 budget before the National Assembly for approval.“First, the 1.8 million barrels per day was not a cap fixed for Nigeria by OPEC, but an expectation,” he explained. “Also, Nigeria’s oil output does not include condensate production of 350,000 barrels per day. So, between 1.8 million bpd and 350,000 bpd, we are doing 2.2 million barrels per day. We can produce more than the 1.8 million bpd if we have the capacity.” Group General Manager, Corporate Planning and Strategy, Bala Wunti, said the current production capacity for the country was more than 2.3 million barrels per day, noting, however, that due to the insecurity in the Niger Delta region, the full production capacity has not been achieved over the years. “The 2018 crude oil national production projection for Joint Ventures, Modified Carry Arrangement or External Financing, Production Sharing Contracts, Independents, Marginal Fields and Service Contracts is about 2,298,000 barrels per day,” Wunti said. He added that the 2018 price projection on the long term price assumption was based on price scenarios of $35 (low), $45 (medium) and $55 (high), stressing that most price forecasting agencies thought that the medium price scenario had the highest probability of occurrence which the 2018 budget was hinged upon. “Consequently, a conservative price projection of $45 per barrel was used as benchmark for crude price for 2018 budget,” Wunti stated. http://www.akelicious.com/2017/12/oil-price-inches-towards-70-44-above.html
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After the two-day holiday in commemoration the Christmas and Boxing Day, equity transactions on the floor of the Nigerian Stock Exchange (NSE) re-opened on a downward note yesterday. The nation’s bourse witnessed heavy price losses as virtually all the blue chip stocks, particularly Dangote Cement and Nigerian Breweries (NB) suffered losses, while market capitalisation plunged by N225 billion.Specifically, at the close of trading yesterday, the market capitalisation of the listed equities dropped by N225 billion or 1.7 per cent from N13.708 trillion recorded last week Friday to N13,483 trillion. Also, the All-Share Index plummeted by 632.57 points from 38,522.14 to 37,889.57.On the price movement chart, Dangote Cement topped the day’s highest price loser, shedding 950 kobo to close at N230 per share, while Nigerian Breweries followed with 596 kobo to close at N134.04 per share. Okomu Oil lost 356 kobo to close at N67.69 per share; Presco shed 350 kobo to close at N68.50 per share; PZ Cussons 76 kobo to close at N20.62 per share; while Ecobank TransNational Incorporated dropped 49 kobo to close at N17.00 per share. WAPCO also depreciated by 48 kobo to close at N43 per share and Unilever lost 46 kobo to close at N40.22 per share, while Dangote Flour declined by 16 kobo to close at N11.85 per share. On the other hand, Mobil oil topped the gainers’ chart with 831 kobo to close at N178.31 per share; Cadbury gained 142 kobo to close at N15.75 per share; and Dangote Sugar added 51 kobo to close at N20.15 per share.Eterna Oil share also appreciated by 12 kobo to close at N4.35; Fidelity Bank garnered 11 kobo to close at N2.49 per share; NEM added 0.06 kobo to close at N1.56 per share, while Continental Reinsurance gained 0.05 kobo to close at N1.40 per share. Others are Honeywell Flourmills and African Prudential, which gained 0.04 kobo each to close at N2.19 and N4.18 per share respectively.On the activity chart, TransNational Corporation emerged investors’ toast with 107 million shares worth N154.8 million, while Fidelity Bank followed with 94 million units valued at N220 million. Skye Bank accounted for 51 million shares worth N25.8 million and AIICO Insurance traded 40 million units valued at N20 million, while FBN Holdings exchanged 37 million shares worth N340 million. http://www.akelicious.com/2017/12/dangote-cement-nb-lead-stock-markets.html
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The federal government has raised a total sum of N7.3 billion in the past 10 months from its savings bond introduced in March 2017 to boost domestic investors’ participation in the bond market. The government, this year, planned to use the savings bond to finance the budget deficit but investors’ appetite for investment in the savings bond diminished in the fourth quarter of 2017. The December allotment figure shows that N246.41 million had been raised, which is the lowest savings bond the Debt Management Office (DMO) generated this year over drop in coupon rate. Analysts attributed the drop in savings bond coupon to improved macro economy. The Managing Director, Highcap Securities Limited, Mr. David Adnori said, “The savings bond coupon rate dropped due to improvement in macro economy as interest rate is on decline in the economy. Rates on bonds and Treasury Bills (T-Bills) are all declining”. The coupon rate allocated were 11.738 per cent for FGNSB DEC 2019, which is a two-year bond and 12.738 per cent for FGNSB DEC 2020, representing a three-year bond. For November allotment, the figures show that N256 million had been raised through 12.091 per cent (FGNSB NOV 2019) two-year bond and 13.091 per cent (FGNSB NOV 2020) three-year bond. Subscription in November was the second lowest as investors’ appetite started dropping. Before November and December, the average coupon rate on FG’s savings bond was pegged at an average 12 per cent to 13 per cent, with a two-year and three -year bonds. In October, the saving bond allotment dropped by 5.6 per cent to N389.19 million from N412.7 billion, following the slowdown in coupon rates. The coupon rate assigned to a FGNSB OCT 2019 and FGNSB OCT 2020 in October was at 12.059 per cent and 13.059 per cent respectively, while in September, the coupon rate was at 13.817 per cent (FGNSB SEP 2019) and 14.817 per cent (FGNSB SEP 2020)respectively. Before the last quarter of 2017, there was increased participation at the debt market in the first quarter as demand for T- Bills, FGN Bonds and the Savings bond increased relative to supply Specifically, in March the debt office had raised N2.068 billion from the 13.01 per cent two years debt with 2,575 total number of successful subscriptions. According to LEADERSHIP findings, data from Debt Management Offie (DMO) showed that the initial auction of the savings bond still had the largest participation in the first quarter and started dropping in the second and third quarter. At the end of first quarter in April, DMO raised N1,288.02 billion that comprises of N419.33million and N868.69 million for a 12.794 per cent and 13.794 per cent, two- year and three-year savings bond respectively. In May, it raised N791.15 billion with yields rising to 13.189 per cent for the two-year paper and 14.189 per cent for the three-year allotment. The yield remained the same in June but the amount raised dropped to N607.26 million. However, an increased yield failed to spike interest in July, as only N400.57 million was raised from the two-year and three-year paper, although the yield for the papers were raised to 13.386 and 14.836 per cents respectively. By August, investors’ interest in the savings bond increased along with the yield offered. The two-year bond was offered at 13.535 per cent, while the three-year Savings bond was offered at 14.535 per cent, just as the DMO was able to raise N738.14 million through the Savings Bond. Analysts maintained that many retail investors traded with caution following the yuletide celebration, while some diverted funds to the equity market, foreign exchange market, as yield on savings bond and T-Bills are not attractive. http://www.akelicious.com/2017/12/fg-raises-n7bn-from-savings-bond-in-10.html
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The federal government has disclosed that less than 30% of Ministries, Departments and Agencies (MDAs) have functional websites and less than 25% have functional telephone numbers and e-mail addresses. The acting director general of the Bureau of Public Service Reforms (BPSR) Dasuki Arabi made the disclosure yesterday. He said the shortcomings have not only created a huge constraint to doing business in Nigeria, but it’s responsible for the country being ranked 169 out of the 190 economies in the World Bank Doing Business Rankings. According to him, in line with global best practice, institutional websites provide the means through which relevant information for starting business process could be obtained. He said, “The Federal Government has adopted and bought into the scorecard which would serve as peer review mechanism amongst the MDAs to boost compliance to Standards for government website and improve Operationalization of the Executive Order E001.” Continuing, Arabi said “The Steering Committee for the scorecard with membership drawn from key government agencies, namely: Office of the Secretary to the Government of the Federation, Office of the Head of the Civil Service of the Federation, Federal Ministry of Communication Technology, Federal Ministry of Justice, National Information Technology Development Agency. Others are; SERVICOM, Nigeria Internet Registration Agency, Galaxy Backbone and Bureau of Public Service Reforms identified 70 MDAs to participate in the pilot deployment of the scorecard which the Secretary to the Government of the Federation approved vide Circular Ref. SGF/OP/S.3/XII/64.” he added. According to the BPSR boss, by next month, the preliminary activities towards the deployment of the scorecard for the pilot MDAs which are categorized into three groups namely: the Core Ministries, focal MDAs identified by the Presidential Enabling Business Environment Council (PEBEC) and MDAs with huge customer interface would commence. He said a jury comprising of government agencies, Non-Governmental Organisations, Private Sector and Civil Society Organisation (CSO) will carry out scoring and assessment of the participating MDAs bi-annually i.e. mid-year (April/May) and end of the year (October/November). “The members of the Jury are: Office of the Accountant General of the Federation, Federal Civil Service Commission, Office of the Head of the Civil Service of the Federation, Office of the Secretary to the Government of the Federation, Presidential Enabling Business Environment Council, Federal Ministry of Communication Technology, Galaxy Backbone Plc, National Information Technology Development Agency, Nigeria Internet Registration Association, Right to Know (R2K) Nigeria, Independent Service Delivery Monitoring Group, Nigeria Computer Society, AFRICTA, Flutterwave and Bureau of Public Service Reforms. “At the end of the main event, the best ranked MDA would be presented a plaque of recognition and/or other incentives such as a week training program for MDA’s website administrator, sponsored website hosting for the MDAs etc,” he noted. http://www.akelicious.com/2017/12/only-30-mdas-have-functional-websites-fg.html
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The Xiaomi Mi A1 is undoubtedly one of the best budget phones you can buy right now, as long as you live somewhere where it is sold. It's Xiaomi's first Android One device, meaning it runs completely stock Android with no modifications. Xiaomi promised that it would receive Oreo by the end of 2017, and while the final update still isn't ready, some owners have been invited to a private beta test. Indian news site Telecomtalk had a chance to test the private beta, and reports that several updates have already gone out over the course of testing. All the usual Oreo improvements are present, like the redesigned Settings app, adaptive icons, Picture-in-Picture, and the Autofill API. The site reported that app load times are much quicker, and animations are more smooth. The Oreo update also adds quick charging support to the A1. I'm unable to verify if the charger included with the A1 supports quick charging (I had to send my review unit back), so you may have to buy a new adapter/cable to take advantage of the faster speeds. Xiaomi is still promising that the update will be ready by the end of 2017, so unless it is delayed, it should be released within the next six days. http://www.akelicious.com/2017/12/android-80-oreo-in-beta-testing-for.html
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The Nigerian Army said its troops had been in pursuit of Boko Haram insurgents after repelling insurgents’ attack at Moloi area of Maiduguri. Maj.-Gen. Rogers Nicholas, the Theatre Commander, Operation Lafiya Dole, disclosed this in a statement in Maiduguri. Nicholas said that the troops had successfully repelled the attack while ground troops and the Nigerian Air Force were on hot pursuit, interdicting the fleeing terrorists now in disarray. Nicholas disclosed that the insurgents used Improvised Explosive Device (IED) and gun trucks to attack a military post at Moloi area, an outskirts of Maiduguri. He said the insurgents tried to infiltrate the town to steal food stuffs. “No loss of lives to own troops and normalcy has since been restored. The commander disclosed that the insurgents set two vehicles ablaze and torched thatched houses at the outskirts of the city gate in their retreat. http://www.akelicious.com/2017/12/troops-pursue-boko-haram-insurgents.html
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It was a bleak Christmas for residents of Bwari, in Bwari area council of FCT, Abuja, as no fewer than 10 people were feared dead during a clash between two rival cult groups. It was gathered that the crisis which had been on for about a week, yesterday snowballed into an ethnic crisis between the people of Gbagyi and Hausa extractions when a young man of Gbagyi extraction was gunned down on Christmas Eve by members of a rival cult group. Apart from those who lost their lives in the reprisal that broke out at about 9:00 am Monday, several other people were reportedly injured by cutlass wielding irate youths and some older men who turned the crisis into an ethnic issue. They were later rushed to Bwari General Hospital where they were receiving treatment as at the time of filing this report. According to an eyewitness account, the popular Bwari market, a mosque near the market, houses and a popular modern plaza beside a new generation bank, opposite the headquarters of Joint Admission and Matriculation Board (JAMB) were also torched, during the fracas; leading to loss of properties worth millions of Naira. It was gathered that but for prompt intervention of policemen and soldiers that were promptly deplored to the area, the crisis could have further degenerated. It was further gathered that people of Gbagyi extraction had been bottling up anger since Hawal Musa Ijakoru succeeded his father, the late Musa Ijakoru, as Sarki Bwari, some three months ago. The Gbagyi, it was gathered flawed at a situation where two kings would reign in their community since they already have Ibrahim Yero, who enjoy their support, as Etsu Bwari. It will be recalled that the Gbagyi had been calling for the sack of the Sarki Bwari even during the reign of the deceased monarch so that the community would have only a ruler. Sarki Bwari, it was gathered enjoyed the support of members of Hausa community in the area who allegedly gave him support. As at the time of filing this report last night, there was still heavy presence of security operatives along SCC Road, T-Junction, Market Road and some strategic locations in the area. The crisis also made life difficult for commuters as commercial activities diverted their vehicles from the area, even as many of the residents stayed indoors.It was a bleak Christmas for residents of Bwari, in Bwari area council of FCT, Abuja, as no fewer than 10 people were feared dead during a clash between two rival cult groups. It was gathered that the crisis which had been on for about a week, yesterday snowballed into an ethnic crisis between the people of Gbagyi and Hausa extractions when a young man of Gbagyi extraction was gunned down on Christmas Eve by members of a rival cult group. Apart from those who lost their lives in the reprisal that broke out at about 9:00 am Monday, several other people were reportedly injured by cutlass wielding irate youths and some older men who turned the crisis into an ethnic issue. They were later rushed to Bwari General Hospital where they were receiving treatment as at the time of filing this report. According to an eyewitness account, the popular Bwari market, a mosque near the market, houses and a popular modern plaza beside a new generation bank, opposite the headquarters of Joint Admission and Matriculation Board (JAMB) were also torched, during the fracas; leading to loss of properties worth millions of Naira. It was gathered that but for prompt intervention of policemen and soldiers that were promptly deplored to the area, the crisis could have further degenerated. It was further gathered that people of Gbagyi extraction had been bottling up anger since Hawal Musa Ijakoru succeeded his father, the late Musa Ijakoru, as Sarki Bwari, some three months ago. The Gbagyi, it was gathered flawed at a situation where two kings would reign in their community since they already have Ibrahim Yero, who enjoy their support, as Etsu Bwari. It will be recalled that the Gbagyi had been calling for the sack of the Sarki Bwari even during the reign of the deceased monarch so that the community would have only a ruler. Sarki Bwari, it was gathered enjoyed the support of members of Hausa community in the area who allegedly gave him support. As at the time of filing this report last night, there was still heavy presence of security operatives along SCC Road, T-Junction, Market Road and some strategic locations in the area. The crisis also made life difficult for commuters as commercial activities diverted their vehicles from the area, even as many of the residents stayed indoors. http://www.akelicious.com/2017/12/cultists-kill-10-in-fct.html
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Bank debtors in the country may soon undergo credit rating if hint from the Central Bank of Nigeria (CBN) is anything to go by. According to the apex bank Governor, Mr. Godwin Emefiele, this is one of the decisions arrived at during the Bankers’ Committee Retreat early this month in Lagos, and whoever is found wanting may be barred from accessing credit from any bank in the country. Emefiele, who dropped the bombshell while addressing the press at the conclusion of the meeting said, “we do expect customers who take loans to meet their own side of the bargain because we have a credit registry; their names will go into the black book if they don’t pay. If their names go into the black book if they don’t pay, it means they have ruined their credit ratings. This is because we also agreed at this meeting (the Bankers’ Committee) that we are going to raise the standard of credit bureau and credit reporting in this country. “We are going to raise the standard to a point where there will be credit scoring for people who take bank loans. And when you are scored low or you are scored zero, we are going to use the BVN to block you from having access to any finance in the Nigerian banking or financial services industry.” Emefiele said the plan to blacklist loan defaulters came on the heels of the Bankers’ Committee’s decision to increase financial access to Nigerians, especially operators in the agricultural value chain and the Micro, Small and Medium-scale Enterprises (MSMEs), as part of efforts to grow the economy and create more jobs. According to the CBN boss, the need to increase finance access to the agriculture and the MSMEs segments to grow the economy is imperative, stating that the SMEs constitute 95 per cent of the businesses in the country. Emefiele disclosed that there are plans to ensure that at least N13 billion is disbursed to about 100,000 MSMEs before the end of February 2018. Listing some of the reviews made to the N26 billion fund, he said, “first, it would no longer be equity fund and we agreed that we should tweak it so that it would be some form of preference share arrangement or like a debt structure, which makes it easy for those who want to access it. In terms of pricing, the Bankers’ Committee said it should not be more than five per cent for those who are going to have it.” Aside this fund, Emefiele said the CBN would roll out new regulations before January 1 to banks on SME lending generally. This, according to him, will encourage banks to lend to the SMEs at lower interest rates. He stated: “The reason why banks are showing apathy about bringing facilities to SMEs is risk-sharing issues. They do not want to carry the whole of the 100 per cent of the risk involved.” http://www.akelicious.com/2017/12/bank-debtors-to-undergo-credit-rating.html
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Movement for the Actualisation of the Sovereign State of Biafra, MASSOB, has said President Muhammadu Buhari is the last president of Nigeria. MASSOB also boasted that Nigeria would definitely collapse in 2019. Leader of the group, Uchenna Madu, in a statement he personally signed said while politicians worked towards 2019 election, Biafra agitators would be carrying out referendum. Madu also said the current fuel scarcity in Nigeria was aimed at punishing Christians and Igbos travelling to their homeland. Madu noted that no matter the level of stigmatisation, subjections, mesmerisation, intimidations and economic sabotage against Igbos and Christians, the group will never succumb to pressures of oppressors. According to Madu, “The governance styles and policies, including the ethno -religious sentiments of President Buhari-led federal government is the worst in the fragile history of Nigeria. “MASSOB is truly comfortable with the present system because it justifies and eulogises our self-determination struggle for Biafra actualisation and restoration. “MASSOB also disagrees with President Buhari that Nigeria has survived. Nigeria can never survive the heat of Biafra as long the people of Biafra and Christians are being oppressed and religiously stigmatised. “We also wish to remind President Buhari that he still remains the last president of united Nigeria because Nigeria will certainly collapse in 2019. “In 2018, as politicians are planning and warming up for the 2019 general elections, the coalition of Biafra agitators will be executing the Biafra referendum programmes, even leading agitators of restructuring of Nigeria state will add more value.” http://www.akelicious.com/2017/12/buhari-is-nigerias-last-president-says.html
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There was a mild drama at the Azikoro Police station over the weekend as a suspected armed robber turned himself in after he had accidentally killed his partner during an operation. According to investigation the two –man robbery gang operating around Azikoro Village axis had gone to Bakery Road in the area where they had attempted to rob one Francis Chibueze. However during the attack on Chibueze, one of the robbers Peter Napoleon accidentally shot dead his partner Thankgod Smith. Chibueze who escaped was said to have alerted the Police providing a description of the fleeing robber and the Police moved to the area combing it for Napoleon Napoleon realising that the game was up and unable to handle the killing of Smith went to the Azikoro Police station to confess. According to the Police Public Relations Officer( PPRO) Asinim Butswat, Napoleon During a brief interrogation explained how the incident happened and took the Police to where the gun was hidden. He said investigation is still ongoing to get more information before the suspect would be charged to Court. “On 22 December, 2017, at about 2000hrs a gang of two armed robbers attacked one Francis Chibueze of Bakery Road, Azikoro Village, Yenagoa. Luck ran against the gang as one of the robbers mistakenly shot and killed his partner. The victim Francis Chibueze escaped unhurt. The deceased armed robber was identified as Thankgod Smith ‘m’ 25 years, and his partner who shot him is Peter Napoleon ‘m’ 23 years. Policemen swung into action, and the suspect in hiding panicked and came to the Azikoro Police Station on 23 December, 2017 on his own volition and confessed to the armed robbery and killing his gang member. He led Police Detectives to an uncompleted building in Bakery Road, Azikoro Village, where the gun was recovered.” http://www.akelicious.com/2017/12/drama-in-bayelsa-as-robber-kills.html
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A litre of fuel now sells for N250 in most filling stations owned by the independent petroleum product marketers in Enugu and environs, the News Agency of Nigeria (NAN) reports. A NAN correspondent who visited the filling stations in the city on Sunday observed that the product was sold for N250 per litre. It was however observed that the product was available in abundance in the filling stations though sold above the government regulated price of N145 per liter. NAN reports that the product was still sold for the official price of N145 a litre in Total, Oando and NNPC filling stations as well as the filling stations of other major marketers. The Manager of one of the independent marketers’ filling stations in New Layout, Mr Chidi Ugwu, said the increase in price was due to the recent difficulty in getting the product from the Port Harcourt depot. “When the supply at the Port Harcourt depot normalises, the price will gradually return to normal,’’ Ugwu assured. The situation has led to increase in transport fare in the city as taxis now take N80 for a drop instead of N50. Mr Obinna Nnadi, a commercial bus driver in Agbani Road, decried the situation, saying that the independent petroleum products marketers had subjected Nigerians to unnecessary hardship. “Government agencies concerned must stand up against this yearly exploitation since it is clear that this is man-made and artificial scarcity,’’ Nnadi said. A resident of Achara Layout, Mr Linus Obidike, said that the development had made it impossible for those with relatively large families to travel to their villages to celebrate Christmas. “It is already telling on transporters as they are currently witnessing gloomy business this season. “As I speak to you, I should have travelled but I have shelved it due to the high cost of transportation,’’ Obidike said. http://www.akelicious.com/2017/12/fuel-now-sells-at-n250-per-litre-in.html
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There was a mild drama at the timber market, Onitsha Bridge Head last Wednesday as some members of the Uba Plank and Joisst Association embarked on a peaceful protest against its leadership. The protesters carried placards depicting their displeasure over the activities of their Chairman and other executive members. In their separate speeches, Messrs Ikechukwu Aneke and Kenechukwu Okafor accused the executive led by Mr Tony Chiloli of high handedness which according to them has led to their loss of patronage. They said many customers have resorted to patronizing timber markets in other areas instead of the Onitsha Bridge Head market, due to undue extortions championed by the executive. They called on the State government to intervene in the matter for peace and commercial stability in the State. They expressed dissatisfaction with what they called undue interference of Amalgamated Traders Association in the affairs of the association. The Chairman, Mr Tony Chiloli in a telephone interview said he was not aware of the protest but however described all the allegations against him as false. http://www.akelicious.com/2017/12/timber-traders-at-bridgehead-onitsha.html
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Ogun State governor, Ibikunle Amosun, has urged homeowners in the state to partner with his administration by paying their taxes. Amosun stated this during the distribution of Certificates of Occupancy (C of O) and building plan approvals to another batch of beneficiaries at the Arcade Ground, Governor’s Office, Oke-Mosan, Abeokuta. In a statement, the governor, represented by the Commissioner for Education, Science and Technology, Mrs. Modupe Mujota, called on residents to perform their civic responsibilities by paying their taxes to aid socio-economic development of the state. http://www.akelicious.com/2017/12/partner-with-us-to-fulfill-our-promises.html
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While some of your loved ones might enjoy getting new toys and gadgets, they often get over them quickly. They may often jump right on the next new and fancy thing in a box. What people can’t forget though, is an experience. A long-lasting, memorable gesture – a Christmas experience. In case you are drawing a blank on what Christmas experiences could leave your loved ones in awe of your thoughtfulness, we have made a shortlist. Sign them up for a new skill It could be swimming lessons, piano lessons, karate, or any other skill your loved ones have indicated interest in. Making available the necessary supplies required to partake in such activities will be a dream come true for them. New skills like those listed above have a long learning curve with lasting impact. This means they will never forget the reason they started learning in the first place – you. Sightseeing with family/road trip Have you seen every fun spot in the state you live? Then take your loved ones to a fun park in another state within or outside the country. Kids especially love this. Let them meet new people, see a different culture, and experience fun in a whole new level. If you are up for it, there are lots of exciting places that you can choose from, no matter your budget. The memories from this experience will last for a long time. Gift an FBN Mutual Fund Setting up a Mutual Fund in your loved one’s name is guaranteed to make a difference in their lives in the long run, even when they may not be able to comprehend the essence of the fund immediately. The FBNQuest Gift a Mutual Fund package presents an outstanding opportunity to reward your loved ones thoughtfully and meaningfully. Starting from as low as N5,000, you can begin investing in the future of your loved ones via an FBN Mutual Fund today. Get started here: Gift a Mutual Fund. http://www.akelicious.com/2017/12/3-meaningful-experiences-you-can-gift.html
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marryjesus:
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A member of the Edo State House of Assembly and the Chief Whip, Hon. Osaigbovo Iyoha, on Tuesday paid WAEC enrollment fees for indigent students with disabilities in Ihogbe College, Benin City, Edo State. The representative of Oredo East constituency, handed the cheque for the students to the Principal of the School. The lawmaker who has made this kind gesture a yearly ritual, noted that he is desirous to see that the issue of money does not truncate the education of the students with disabilities. While promising to keep up with this yearly tradition, he said, "I see a bright future in you and as such, I am moved to see that this becomes a reality; that nothing, especially money, prevent then from realising it". "I am glad to hear that some of these students that God assisted me to help, are proud student in some higher institutions of learning today. "I am also using this opportunity to appeal to well-to-do individuals or organisations within and beyond my constituency, to come and assist these students in this regard," he stated. The principal of the school, Mr. William Iyekeplolor while receiving the cheque on behalf of the students, stressed that he was moved by the gesture of the lawmaker. The elated Principal said in his years of teaching and being a Principal, he has never seen an individual with this kind gesture. Speaking, one of the beneficiary, Uzuakpondu Moses, a visually challenged person while appreciating the lawmaker, said his parents have told him not to bother about WAEC as there was no money yet. While he was thinking of how to raise money, he was told that someone is ready to foot the bill. Another benefactor Speaking through an interpreter, Otoibhi Samuel, thanked the legislator for the kind gesture, He said he has been hearing about it and happy to be a beneficiary. He said he's sure speaking the mind of some of the beneficiaries who maybe in similar situation like him http://www.akelicious.com/2017/12/photosedo-lawmaker-enrolls-indigent.html
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The Peoples Democratic Party, PDP, in Oyo State has said it pities Ahmed Bola Tinubu for trying to sell a “rejected” All Progressives Congress, APC to the people of the State. Tinubu had on Saturday, while welcoming a former Governor of the state, Adebayo Alao-Akala, Teslim Folarin and others from the PDP to the APC, said their defection was a sign that the APC had become the only party in the state, adding that the opposition had been finally buried. Reacting to this, the PDP Publicity Secretary in the state, Akeem Olatunji, in a statement said the whole event and Tinubu’s comment betrayed his fear that the PDP had put its house in order. Olatunji said, “Our attention has been drawn to a statement credited to a national leader of the APC, Tinubu, at a function held to welcome defectors who have joined the APC, wherein he expressed his fears indirectly over the continuous rise and dominance of the PDP in Oyo State politics and Nigeria at large. “It is absurd that 90 per cent of the so-called defectors have ceased to be PDP members more than two years ago while the remaining 10 per cent are politicians who make their living through politics and hence the need to be in the ruling party at all times because they lack ideologies and principles. “The PDP in Oyo State actually pities Tinubu for the unenviable job of selling a rejected Oyo APC to the electorate whereas the party hierarchy including the national chairman knows that the Oyo APC is moribund. The Saturday’s official declaration was just a charade to celebrate the birthday of Governor Abiola Ajimobi in an elaborate and wasteful manner.” According to the statement, the absence of key party figures like the APC National Chairman, John Odigie-Oyegun, and the Minister of Communication, Adebayo Shittu, showed that the event was a failure. “It is on record that the only minister from the state, Shittu; senators Monsurat Sunmonu, and Fatai Buhari, Dapo Lam-Adesina and many other political office holders on the platform of the APC boycotted the events to the surprise of Tinubu and Governor Ajimobi; a failed attempt to give a false hope that the APC is still alive in the state when all the indices show that the APC is virtually dead and the undertakers were admitted with funfair last Saturday.” http://www.akelicious.com/2017/12/2019-we-pity-tinubu-pdp.html
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In this concluding part of the interview President Muhammadu Buhari granted Eric osagie, The SunMD/Editor-in-Chief in company of Paulinus Aidoghie in 2012, he explains why he is not super rich despite being former Head of State.Source: https://www.google.com.ng/amp/sunnewsonline.com/im-not-good-at-making-money-buhari/amp/
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Following the commitment of search giant, Microsoft, to commit $50million to the fight against climate change, benefits accruable to Nigeria, and other parts of Africa will include the protection of lives and creation of new jobs. Giving more insight into what Nigeria and indeed Africa stand to benefit from the announcement, the Chief Technology Officer, Microsoft Nigeria, Hakeem Adeniji-Adele, in a chat with The Guardian, said the American technology company sees artificial intelligence (AI) powering the next major transformation in this region. This, he said, will cause a lot of changes and social good, adding that the announcement centred on how AI and cloud technology can be developed to solve some of the most pressing challenges of the present time, “especially as we face urgent challenges affecting our natural world. These challenges will only exacerbate existing issues, from conflict to income inequality to global economic threats. So applying AI to these issues could actually help protect existing livelihoods, or create new jobs.” Accordingly, he said Microsoft believed that AI technology has the power to amplify human ingenuity, and extend their capabilities. Adeniji-Adele said when made accessible to everyone, AI will transform industries, make us more productive, and help solve society’s biggest challenges, including those related to climate. According to him, AI for Earth is about solving the impacts of climate change from water scarcity and quality, to biodiversity, to agriculture, and climate change itself through carbon. He stressed that improving energy efficiency across the grid to help electric vehicles (EV) adoption is just one of the co-benefits seen through AI-enabled efficiencies. Speaking on Microsoft’s commitment to the plan, he explained that climate change is one of the most significant challenges of the present time, “and the future of this planet depends on how we respond. We initially launched AI for Earth in July, with the simple goal of putting our cutting-edge AI tools in the hands of individuals and organizations to build a better, healthier and sustainable future for everyone on the planet. But the world needs more progress, faster. So we’re scaling up our ambition and funding to turn this $2million programme into a $50million programme that can bring AI to bear at the speed, scale and magnitude needed to fight climate change.” He revealed that there are already two AI for Earth grantees in Africa, which include The Jane Goodall Institute, which is already using the Azure cloud in their work in chimpanzee conservation, and the International Centre for Tropical Agriculture (IITA), is using Microsoft AI to help track, predict and adapt to changes that could negatively impact food crops. With concerns over low and poor infrastructure, Adeniji-Adele said Microsoft believed that technologies like AI can actually help overcome those challenges and help countries that are currently less developed grow in a fast but sustainable way, and potentially leapfrog other countries in this green economy. “We’ve seen this in wide scale solar adoption in Kenya, and Ghana with our Affordable Access Initiative grantees already. Matching solar with the Azure cloud, T.V. Whitespaces, low cost sensors and drones can be used to create sustainable micro-grids, support precision agriculture and drive new economic opportunities,” he stated. He explained that AI is an area of computer science that emphasizes the creation of intelligent machines that work and react in a humanoid fashion via speech recognition, machine learning, and problem solving. Microsoft last week announced an expansion to its AI for Earth program, committing an additional $50million to organisations that are working to solve the climate change crisis.Microsoft President and Chief Legal Officer, Brad Smith, said the tech giant first announced AI for Earth back in June, and the initiative promised to provide a bunch of cloud-based tools and AI services to organisations looking to tackle problems relating to climate change. “At the time, Microsoft said it was putting $2million into the programme, in addition to other add-ons, such as providing training on the use of AI. Today, the company announced an expanded strategic plan and a further $50million over the next five years to put artificial intelligence technology in the hands of individuals and organizations around the world who are working to protect our planet.” The news comes on the eve of the two-year anniversary of the Paris Agreement, which was adopted by nearly 200 countries around the world in December, 2015. Smith pointed out that AI is already being used across many industries, from grocery picking/packing to online image searches, and tackling climate change should really be no different. http://www.akelicious.com/2017/12/how-nigeria-others-will-benefit-from.html
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Delta State Governor Ifeanyi Okowa yesterday signed the 2018 Appropriation Bill of N308 billion into law. He promised that his administration will ensure a full implementation of the budget. He said: “I urge Deltans to cooperate with us because with peace, we will fully implement the 2018 budget. Ours is to make Deltans happy, and we are confident that at the end of 2018, we will be having a 100 per cent performance if not more than”. Speaker of the House of Assembly, Sheriff Oborevwori, his Deputy Friday Osanebi, and other principal officers, presented the budget to Okowa in Asaba. Oborevwori also presented the Delta State Remunerations, Salaries, Allowances, Gratuities and Pensions of Certain Public Office Holders and Bodies Amendment Bill 2017, which was also signed by the governor. Okowa, who lauded the synergy that exists between the three arms of government, described the budget as “realistic and realisable.” He said: “The budget is N308 billion and we are happy that the provision for the capital expenditure is more than what was provided for in the recurrent expenditure.” Okowa, on October 19, presented a budget proposal of N298 billion, but the House increased it by N10 billion. The governor hoped that the Delta State Remunerations, Salaries, Allowances, Gratuities and Pensions of Certain Public Office Holders and Bodies Amendment law 2017 would correct anomalies in salaries and allowances so that people will earn what they are entitled to. http://www.akelicious.com/2017/12/okowa-signs-2018-budget.html
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The Joint Admissions and Matriculation Board (JAMB) has accredited 72 centres in Lagos State for the 2018 Unified Tertiary Matriculation Examination (UTME). The State Coordinator, Mr. Sunday Aladegbaye, told News Agency of Nigeria (NAN) yesterday in Lagos that 63 centres were accredited for the examination this year. He said the increase indicated that more candidates were likely to participate in 2018 Computer Based UTME. “Preparations are in top gear for the examination in the state. “We have accredited 72 centres that have met our requirements for the conduct of the mock and the main examination in 2018. “But this figure can increase,’’ Aladegbaye said. He warned mischief makers to desist from setting up strange centres for registration to defraud innocent Nigerians. “Experience has shown that some group of persons will create a strange website in the name of JAMB and be registering candidates to defraud them. “This is misleading just as it is criminal. “We also wish to reach out to candidates to go to only approved centres for their registration. “We (JAMB) will not be accountable for anything that happens to them.’’ The JAMB official said the board would prosecute any person or group of persons caught operating any illegal or unaccredited registration centre for its examinations. He said the board was prosecuting a fraudster in court for allegedly registering candidates for the 2017 UTME. “He operated the centre at a place very close to our Lagos office on Ojora Way in Lagos. “When he was caught, he did not show any remorse. “We will continue with the case until justice is achieved, to act as a deterrent to others. “We are a credible organisation and feel strongly that things should be done the right way and with due process. “It is only logical that any person or persons willing to do business with JAMB should go through the right channel in order not to cause Nigerians pains,’’ Aladegbaye said. http://www.akelicious.com/2017/12/jamb-accredits-72-centres-in-lagos.html
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The National University Commission has released its rankings for all Universities in Nigeria, both private and government owned. According to the ranking, out of over hundred ranked university in Nigeria, Ahmadu Bello University, Zaria came top, beating University of Lagos to second position. At the 3rd position is Obafemi Awolowo University, while the University of Ibadan came forth. The first private university in top 10 is Covenant University, Ota at the 6th position in the national ranking. Lagos State University, (LASU), Ojo is the best ranked state university at 16th position. Other Universities at the top include: University of Ilorin at 5th, University of Nigeria, Nsukka at 7th, while University of Benin , University of Abuja and University of Port Harcourt occupy the 8th, 9th, and 10th position respectively. Here is the full list of ranking: 1 Amadu Bello University, Zaria. 2 University of Lagos, Lagos 3 Obafemi Awolowo University, Ile-Ife 4 University of Ibadan 5 University of Ilorin Ilorin 6 Covenant University Ota 7 University of Nigeria Nsukka 8 University of Benin Ugbowo 9 University of Abuja Abuja 10 University of Port Harcourt Port Harcourt 11 Federal University of Technology, Minna 12 Federal University of Technology, Owerri Owerri 13 University of Agriculture , Abeokuta Abeokuta … 14 Federal University, Oye-Ekiti Oye … 15 Usmanu Danfodio University Sokoto 16 Lagos State University Ojo 17 Federal University of Technology, Akure Akure 18 Babcock University Ilishan-Remo … 19 Bayero University Kano Kano 20 American University of Nigeria Yola 21 Ladoke Akintola University of Technology Ogbomoso … 22 Afe Babalola University Ado-Ekiti 23 University of Jos Jos 24 Landmark University Omu-Aran 25 Nnamdi Azikiwe University Awka … 26 University of Uyo Uyo 27 Abubakar Tafawa Balewa University Bauchi 28 Michael Okpara University of Agriculture Umuahia 29 Enugu State University of Science and Technology Enugu 30 Rivers State University of Science and Technology Port Harcourt 31 Adekunle Ajasin University Akungba Akoko … 32 Benue State University Makurdi 33 Redeemer’s University Mowe 34 Kwara State University Malete 35 Veritas University Abuja 36 Osun State University Oshogbo … 37 University of Agriculture, Makurdi Makurdi 38 Nasarawa State University Keffi 39 African University of Science and Technology Abuja 40 Ekiti State University, Ado Ekiti Ado-Ekiti 41 University of Calabar Calabar 42 Kogi State University Anyigba 43 Tai Solarin University of Education Ijebu-Ode … 44 Federal University, Dutsin-Ma Dutsin-Ma 45 Ebonyi State University Abakaliki 46 Federal University, Ndufu-Alike Ndufu-Alike 47 University of Maiduguri Maiduguri 48 Umaru Musa Yar’Adua University Katsina 49 Nile University of Nigeria Abuja 50 Bowen University Iwo 51 Al-Hikmah University Ilorin … 52 Delta State University, Abraka Abraka 53 Niger Delta University Wilberforce Island Yenagoa 54 Abia State University Uturu 55 Ambrose Alli University Ekpoma 56 Modibbo Adama University of Technology Yola 57 Federal University, Otuoke Otuoke 58 Imo State University Owerri 59 Olabisi Onabanjo University Ago Iwoye … 60 Federal University of Petroleum Resources Effurun 61 Kaduna State University Kaduna 62 Federal University, Lokoja Lokoja 63 Akwa Ibom State University Uyo 64 Benson Idahosa University Benin City 65 Paul University Awka 66 Federal University, Dutse Dutse 67 Ajayi Crowther University Oyo Town 68 Lead City University Ibadan 69 Bingham University Auta Balifi 70 Baze University Abuja 71 Ibrahim Badamasi Babangida University Lapai 72 Chukwuemeka Odumegwu Ojukwu University Uli 73 Joseph Ayo Babalola University Ikeji-Arakeji 74 Madonna University Okija … 75 Crawford University Faith City … 76 Cross River University of Technology Calabar … 77 Caritas University Enugu 78 Ondo State University of Science and Technology Okitipupa 79 Bells University of Technology Ota 80 Igbinedion University Okada Okada … 81 Elizade University Ilara-Mokin 82 Achievers University, Owo Owo 83 Caleb University Imota 84 Kano University of Science and Technology Wudil 85 Federal University, Lafia Lafia 86 Sokoto State University Sokoto 87 Fountain University Oshogbo 88 Adeleke University Ede 89 Federal University, Kashere Kashere 90 Federal University, Wukari Wukari 91 University of Mkar Mkar 92 Oduduwa University Ile Ife 93 Godfrey Okoye University Ugwuomu-Nike 94 Taraba State University Jalingo 95 Obong University Obong Ntak 96 Yobe State University Damaturu 97 Renaissance University Enugu 98 Salem University Lokoja 99 Wellspring University Benin City 100 Al-Qalam University, Katsina Katsina 101 Novena University Ogume 102 Western Delta University Oghara 103 Gombe State University Gombe 104 Kwararafa University Wukari Wukari 105 Bauchi State University Gadau … 106 Kebbi State University of Science and Technology Aliero 107 Tansian University Umunya … 108 Crescent University, Abeokuta Abeokuta 109 Rhema University Aba 110 Wesley University of Science and Technology Ondo City 111 Samuel Adegboyega University Ogwa more at http://www.akelicious.com/2017/12/ahmadu-bello-university-ranked-as-no-1.html
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