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Politics / Why INEC Declared Sokoto Governorship Election Inconclusive by mrakeli62: 6:04am On Mar 11, 2019
The Independent National Electoral Commission (INEC) has declared March 9 Governorship election in Sokoto state inconclusive.

It said the decision was because 75, 403 votes were cancelled which were higher than 3, 413 margin difference.

The State’s Chief Returning Officer, Prof. Fatima Muktar, made the declaration on Sunday in Sokoto, stating that 51 Candidates contested the election.

Muktar, who is the Vice Chancellor, Federal University Dutse (FUD) , Jigawa, declared that it was based on the consideration of cancelled votes that emanated from 136 polling units in the state.

”From the forgoing, the election is declared inconclusive as I cannot take a decision in recognition of the narrow margin according to electoral law,” Muktar said.

She added that the total registered voters were 1, 887, 767 while 1, 033, 081 voters were accredited.

She said the total valid votes were 987, 952 and the total rejected votes were 30, 082, while the total votes cast were 1, 018, 024 at the concluded election.

According to the results declared, Gov. Aminu Tambuwal of the Peoples Democratic Party (PDP), has won the election in 12 out of the 23 LGAs results announced with 3,413 votes margins.

NAN reports that Tambuwal polled 489, 558 votes while his close rival, Alhaji Ahmad Aliyu of the All Progressives Congress (APC) scored 486, 145 votes.

According to her, the PDP has the higher votes in 12 LGAs while APC has 11 LGAs with a margin of 3, 413 votes difference between them.

She said the figure of cancelled votes was 75, 403 at different polling units across the state due to various reasons.

She further explained that other parties shared the remaining percentage of votes cast.

https://www.akelicious.net/2019/03/why-inec-declared-sokoto-governorship.html

Politics / Ethiopian Airline: No Survivor As One Nigerian, 157 Passengers,crew Die In Crash by mrakeli62: 5:04pm On Mar 10, 2019
One Nigerian was among the 157 persons that lost their lives in the Ethiopian Airline crash on Sunday.


The Airline said it was still investigating the real cause of the fatal crash in a press conference held at its Headquarters this afternoon.

In a statement to Akelicious, with attachment of the nationalities involved, the airline said, “It is too early to speculate the cause of the accident and further investigation will be carried out to find out the cause of the accident in collaboration with all stakeholders including the aircraft manufacturer Boeing, Ethiopian Civil Aviation Authority and other international entities to maintain the international standard and information will be provided once the cause is identified.


“Ethiopian Airlines will provide all the necessary support to the families of the victims.”

A senior captain named Yared Getachew with a cumulative flight hour of more than 8000 and with a commendable performance was commanding the flight along with first officer Ahmed Nur Mohammod Nur who had a flight hour of 200.

149 passengers and 8 crew members were on board the flight. The victims were of 35 Nationalities.


The statement explained further that the “crashed B-737-800MAX airplane flew back to Addis from Johannesburg this morning to its yet another flight bound to Nairobi underwent a rigorous first check maintenance in February 04,2019.

“Ethiopian Airlines Group expresses its profound sorrow and deepest condolences to the families of the victims and their loved ones on the tragic plane accident,” it added.

https://www.akelicious.net/2019/03/ethiopian-airline-no-survivor-as-one.html

Business / Dangote Cement’s 12% Revenue Growth Lifts GDP by mrakeli62: 5:11am On Mar 10, 2019
Heavy rains and uncertainties in Nigeria’s political landscape in 2018 were not enough threats to improved profitability for Dangote Cement, a leading cement manufacturing group in Africa, as consumption in the country boosted its revenue to about N901billion. The sterling performance ostensibly accounted for 0.5 per cent of Nigeria’s GDP in the review year. Bamidele Famoofo reports

Manufacturing Sector

The manufacturing sector of the economy was one out of four major sectors in the non-oil sector that helped Nigeria’s Gross Domestic Product (GDP) grow by 2.38 percent in real terms (year-on-year) in the fourth quarter of 2018, according to figures from the Nigeria Bureau of Statistics (NBS).


The statistics bureau noted that nominal GDP growth for the manufacturing sector was recorded at 33.57 per cent, which is 24.37 percentage points higher than the rate recorded in the corresponding period of 2017 (9.20 per cent), but only 0.84 percentage points higher than the preceding quarter’s (32.73 per cent). Quarter on quarter, growth of the sector stood at 6.62per cent, while annual growth was 24 per cent in 2018. The contribution of manufacturing to nominal GDP in Q4 2018 was 10.11per cent, which is higher than its contribution in the corresponding period of 2017 (8.53 per cent) and Q3 2018 (10.01 per cent). For 2018, the sector contributed 9.75 per cent to total nominal GDP, higher than its contribution, of 8.83 percent in 2017.

The growth represents an increase of 0.27per cent points when compared to the fourth quarter of 2017, which recorded a growth rate of 2.11 percent. It also indicates a rise of 0.55 percentage points when compared with the growth rate recorded in third quarter 2018. On a quarter-on-quarter basis, real GDP growth was 5.31percent.

The fourth quarter growth performance implies that real GDP grew at an annual growth rate of 1.93per cent in 2018, compared to 0.82 per cent recorded in 2017, an increase of 1.09percentage points.

During the quarter, aggregate nominal GDP stood at N35.230 trillion, which is higher than N31.275 trillion recorded in Q4 2017, a nominal growth rate of 12.65 per cent. For 2018, nominal GDP was therefore recorded at N127.762 trillion representing a nominal growth rate of 12.36percent when compared to N113.711trillion recorded in 2017.

The manufacturing sector comprises of 13 activities: Oil Refining; Cement; Food, Beverages and Tobacco; Textile, Apparel, and Footwear; Wood and Wood products; Pulp Paper and Paper products; Chemical and Pharmaceutical products; Non-metallic Products, Plastic and Rubber products; Electrical and Electronic, Basic Metal and Iron and Steel; Motor Vehicles and Assembly; and Other Manufacturing.

Dangote Cement

While the improved contribution of non-oil sector and by extension the manufacturing subsector to GDP growth have been applauded by economic pundits, the impact of Dangote Cement in the revival of the near comatose manufacturing space in Nigeria cannot be ignored.

Ostensibly, Dangote Cement, largest capitalised company on the Nigerian Stock Exchange with a market capitalisation of about N3.4trillion was a major contributor to growth in GDP in 2018 with record revenue of N901billion in its financial year ended December 31, 2018.

The ever expanding Dangote Cement Group with established manufacturing plants across major countries in Africa grew total revenue by 11.9 percent from N805.58billion in December 31, 2017 to N901billion in 2018.

Going by the details in the group’s audited financial records for 2018, revenue was largely driven by the Nigerian market where revenue grew by 11.9 percent from N552.36billion in 2017 to N618.30billion. The implication is that consumption of cement in Nigeria in the review year increased by 11.9 percent or about N66billion.

Dangote Cement accounted for 0.5 percent of nominal GDP in 2018 considering the N618.30billion total revenue generated from the local market in comparison to an aggregate nominal GDP of N127.76trillion recorded by Africa’s largest economy in 2018.

Financials

Dangote Cement Plc, Africa’s largest cement producer, announces a group’s revenue of N901.2billion as at December 31, 2018, which represents an increase of 11.9 percent compared to N805.52billion in the corresponding period of 2017.

Group’s earnings before Interest, taxes, depreciation, and amortisation (EBITDA), (used as an indicator of the overall profitability of a business), moved up 12.1 per cent to N435.3billion from N388.15billion in the preceding financial year.

Details of the report indicated that Nigeria EBITDA increased by 10.2 percent from N360.76billion in 2017 to N397.40billion in 2018, while margin also increased by 64.3 percent. Pan-Africa EBITDA surged by 28.2 percent from N38.28billion in 2017 to N49.1billion while margin growth was put at 17.3 percent in 2018.

Dangote Cement explained that the increase in EBITDA was helped by the more favourable fuel mix at Obajana and Ibese, both of which were able to use coal from mines operated by its parent, Dangote Industries Limited.

“The use of expensive LPFO has been eliminated and our reliance on imported coal has ended at Obajana and Ibese, where we are using own-mined and third-party Nigerian coal, with obvious benefits to both margins and foreign currency demands. All of our eight kilns at Obajana and Ibese are now capable running on coal, gas or LPFO, or a mixture of the three. Our two lines at Gboko run on coal or LPFO or a mixture of the two”, the leading cement company in Africa revealed.

Further breakdown of the audited 2018 financial figures showed that earnings per share (EPS) of the cement group went up by 95.9 per cent to N22.83. To reward its shareholders across board, Dangote Cement has proposed a dividend of N16.00 per share which represents a growth of 52.4per cent compared to the dividend paid in 2017.

Speaking on the performance, Group Chief Executive Officer, Joseph Makoju, said: “This is a record financial performance by Dangote Cement, driven by a strong increase in our home market, Nigeria, despite heavy rains and uncertainties about the election. Although Pan-African volumes were unchanged in 2018, I am confident that we will see an increase in 2019, driven by higher volumes in Tanzania, Ethiopia, Congo and Sierra Leone. Now that we have gas turbines operating in Tanzania we will also see increased profitability in the Pan-Africa region and this will help to improve overall Group margins.”

Operating Highlights

Dangote Group revenue was driven by sales volumes which went up by 7.4 per cent to 23.5 metric tonnes (Mt) in 2018 driven largely by the Nigerian operations, which increased volumes by 11.4 percent to 14.2Mt in 2018, including export sales of 0.7Mt. Domestic sales in Nigeria were 13.4Mt, compared to 12.0Mt in 2017, because of higher building activity as the economy recovered from recession.

“In Nigeria, our 13.3Mta Obajana plant sold 6.7Mt of cement in 2017, with the 12.0Mta Ibese plant also selling nearly 6.7Mt. Our 4.0Mta plant at Gboko, in Benue State, was mothballed for most of the year but sold more than 0.8Mt,” the group remarked.

Meanwhile, group manufacturing costs increased by 9.1percent, mostly as a result of increased volumes in Nigeria. Manufacturing costs in Nigeria increased by 7.4per cent from N158.6billion to N170.3billion, on the back of the 11.4 per cent increase in sales volume for 2018.

Although Pan-African volumes remained constant, manufacturing costs increased by 10.6 per cent from N192.7billion to N213.0billion, mainly due to exchange rate impacts as well as input price adjustments.

The naira traded at N359/$1 at the end of 2018 compared to N331/$1 at the end of 2017, a decline in value of 7.8percent. The depreciation also contributed to the overall increase in Pan-African operating costs when these were converted to naira. The average exchange rate and year-end exchange rate for the main currencies applied are as shown in the notes to the financial statements.

Besides, total administration and selling costs rose by 22.0 per cent to N189.4billion, mostly as a result of higher sales and associated distribution costs in Nigeria, which also include increased export sales from the country whose delivery costs are higher. Haulage expenses in Nigeria increased by N10.2billion to N56.7billion from N46.5billion. Haulage costs in Pan-Africa increased by N3.2billion, representing 11.3per cent increase.

Changes

Mr. Olusegun Olusanya resigned from the board after being with Dangote Cement for about 15 years. Another major change on the board in the financial year ended December 31, 2018 was the resignation of the Group Chief Financial Officer and Board member, Brian Egan. The Irish finally quit the organisation on February 28, 2019 after five years with Dangote Cement.

In the interim, Guillaume Moyen, who recently joined Dangote Cement as Group Chief Finance Officer (Operations) will be Acting Group Chief Financial Officer from March 1, 2019.

Outlook

Dangote Cement believes the year 2019 has started well with sales volumes in Nigeria more than 10 per cent ahead of last year in ongoing first quarter. It is also hinging its hope on federal government’s commitment to a strong programme of infrastructure investment and incentivisation that will drive increased road building, including the construction of concrete roads for better performance in 2019.

https://www.akelicious.net/2019/03/dangote-cements-12-revenue-growth-lifts.html

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Politics / Buhari Not Against Card Reader – Omo Agege by mrakeli62: 7:56pm On Mar 09, 2019
Sen. Ovie Omo-Agege has said that President Muhammadu Buhari is not against having the Card Readers embedded in law.

Omo-Agege made the remark on Saturday while speaking with newsmen in Orogun, Ughelli North Local Government Area (LGA) of Delta.

The senator who represents Delta Central at the National Assembly said lawmakers would addressed the card readers issue in the 9th Assembly.

“The challenge the president had at that time was the ECOWAS Protocol, it came very late.

“You cannot make fundamental change in your electoral law six months to the election, otherwise Mr president was not against the spirit of the letters in that amendment,” he said.

Omo-Agege who just won his returned ticket to the senate alleged electoral malpractices in the Saturday’s Governorship and State House of Assembly elections in Delta.

According to him, there are feelers of ballot box and results sheet snatching in Bomadi, Patani, Warri South-West and some parts Udu LGA.

He, however, expressed hope that relevant authorities would do justice on that.

“It will be difficult to give a comprehensive evaluation of the Governorship and State House of Assembly elections in Delta.

“The information I am getting from other LGAs is not very good. It is all about ballot box and results sheet snatching.

” I do not think that it is good for our democracy.

“I expect the Independent National Electoral Commission (INEC) to do the right thing at the collation level.

“INEC made it clear that Card Readers must be used in every polling units not withstanding that the court says card reader is not part of the law.


“Since INEC insist Card Readers must be used, it will be unfair for some to use it and others not to use it.I am hopeful that Great Ogboru will win and some APC candidates in the state House of Assembly,” he said.

The senator commended security agencies for doing a good job noting that the election was purely a grassroots thing.

Meanwhile, collation of results are still ongoing in most polling units in Warri South and some other parts of the state.(NAN)

https://www.akelicious.net/2019/03/buhari-not-against-card-reader-omo-agege.html

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Politics / 51 Governorship, 462 Assembly Candidates To Contest Elections In Sokoto by mrakeli62: 8:00pm On Mar 08, 2019
No fewer than 51 governorship and 462 State House of Assembly candidates are to participate in Saturday’s elections in Sokoto State.

The Head of Voter Education and Public Affairs Department of Independent National Electoral Commission (INEC) in the state, Mr Muhammad Musa, disclosed this to the News Agency of Nigeria (NAN) in Sokoto on Friday.

Musa said out of the numbers, two women would be contesting governorship, while 21 other women would contest for 30 seats in the state assembly.

He said that distribution of election materials to local government areas had been concluded, and that LGA offices of the commission would continue distributing sensitive materials to polling units.

According to him, INEC had conducted series of stakeholders’ meetings , training of ad-hoc staff and other activities in preparation to ensure successful conduct of the exercise.

He called on participating organs, stakeholders and the public to adhere to electoral rules and ensure successful elections .

https://www.akelicious.net/2019/03/51-governorship-462-assembly-candidates.html

Politics / Polls: 50 Reasons Wike Should Be Re-elected –group by mrakeli62: 7:22am On Mar 07, 2019
A non-governmental organisation, Grassroots For Good Governance (GFGG), has said Rivers people have every reason to re-elect Governor Nyesom Wike, on Saturday.

The group also sued for peace in the state, as the governorship and House of Assembly elections approach.

Briefing newsmen yesterday, in Port Harcourt, on 50 reasons Wike should be re-elected, the National Coordinator of the group, Princess Joy Kanu, called on Rivers people to give peace a chance, and allow the will of the people to prevail.

Kanu noted the numerous transformational programmes and projects Wike’s government has implemented, which need to be sustained, and advised security personnel deployed to monitor the elections to remain apolitical.

She said: “Today’s briefing is centred on the re-election of governor Wike, because of all he has done for the people of Rivers State. We call on the people of Rivers State to give peace a chance.

“Our security personnel are advised not to take sidesbut remain neutral in the forthcoming election. What happened during the last elections, especially the killings of innocent people, will no longer be tolerated in Rivers State.”

On his part, the state Coordinator of GFGG, Levi Kenaam, said the governor has achieved a lot of development in the state, stressing that if given another opportunity, he would be able to complete his ongoing projects and even attract more development to the state.

He said: “Governor Wike has become the people’s favourite leader in Nigeria, following high rate of pro-people’s projects execution. These were accomplished through the governor’s prudent management of scarce resources, despite the economic recession.

“Also, these projects have direct relevance to the welfare and economic development of the state. The Wike administration is investing resources in the improvement of the living condition of the people.”

https://www.akelicious.net/2019/03/polls-50-reasons-wike-should-be-re.html

Politics / Turn Out En Masse On Saturday To Vote, Buhari Appeals To Nigerians by mrakeli62: 6:11am On Mar 07, 2019
President Muhammadu Buhari Wednesday in Abuja urged Nigerians to troop out en masse to cast their votes at the governorship and Houses of Assembly elections holding on Saturday.

The president, in a statement he personally signed, commiserated with families that lost their loved ones at the February 23 presidential and National Assembly polls, and encouraged all eligible voters not to be complacent on Saturday, but should rather view the governorship and assembly elections as important as the last presidential poll.


Giving reasons why the electorate should troop out to vote on Saturday, Buhari said governance at the state level is closer to them than the federal government and hence, the need for them to be involved in the process of electing politicians who will govern them in the next four years.

Buhari, who canvassed votes for governorship candidates of his party, the All Progressives Congress (APC), during Saturday election, counseled against ballot stuffing, ballot snatching and other acts that may be inimical to the conduct of credible polls.

Claiming that he had pledged to conduct credible polls and was committed to his promise, Buhari implored Nigerians to ensure that Saturday’s election is better than February 23 polls, advising them further to ensure the emergence of the best candidates at the election.

He said: “The second and final phase of the 2019 general election comes up on Saturday, March 9, with Nigerians voting for governors and members of Houses of Assembly in the states. Let me once again extend my condolences to the families of those who lost their lives or sustained injuries as a result of accidents or criminal violence during the elections.

“The onus is once again on qualified people to turn out in large numbers to exercise their civic rights. With the presidential poll behind us, let us not become complacent, and fail to vote in the gubernatorial poll. The forthcoming elections are as important for good governance as that of the presidency and the National Assembly.

“Indeed, governance at the state level is closer to us, and should touch our lives more directly. That is why it is vital for us to participate in the choice of who governs us at the state levels. I, therefore, urge you to troop out massively on Saturday to elect your governors and state lawmakers.

“As a member of the All Progressives Congress, I recommend those standing on the platform of the party to you, as we are guided by progressive ideals, and we will not disappoint you. Equally, I urge you to comport yourself properly, as you turn out for the election.

“Avoid all deviant behaviours like ballot stuffing, ballot snatching, and any other action that does not conform to best electoral practices. I assure you that the security agencies will be on hand to protect voters, and ensure that the process is not undermined in anyway.

“Let’s make the gubernatorial polls much better than the presidential, which local and International observers have adjudged to be free and fair. May I repeat my appeal to our young people: do not allow yourselves to be used to cause violence or to break the law or otherwise disturb the peace.

“I have pledged a decent and credible electoral system for our country. I stand by that promise.
“Let us together do the right thing on Saturday, so that the best hands can emerge at the states, and take us faster to the Next Level.”

Also speaking at an event in Abuja, the president pledged to work harder in his second term to consolidate his administration’s activities on security, economy, job creation, fight against corruption and upgrade of infrastructure.

According to presidential spokesman, Malam Garba Shehu, in a statement, the president made the promise while hosting leaders of the Arewa Consultative Forum (ACF), whom he said paid him a courtesy visit in the State House.
“This is my last lap. I will try and work even harder than I have done. I assure you that I will not let you down. I pray that my best will be good enough,” he quoted the president as saying.

The statement added that the president thanked leaders of ACF for what he described as their consistent and dogged support as well as their goodwill.

According to the statement, the Chairman of ACF’s Board of Trustees, Mallam Adamu Fika, recalled some strategic projects being implemented by Buhari’s administration, which he said were important to both the North and the country, listing such projects to include: the Baro Dry Port and Mambilla Hydro Power station.

He quoted Fika as saying: “It is pleasing to note that since then, the Baro Dry Port has been commissioned, while some other projects have been reactivated and are now being implemented.

“We pray that those organs of government charged with the responsibility for the implementation will double their efforts to ensure that these projects are executed fully to their logical conclusion within reasonable time.”

https://www.akelicious.net/2019/03/turn-out-en-masse-on-saturday-to-vote.html

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Politics / Breaking: Court Sacks Okey Ezeh, Imo SDP Guber Candidate by mrakeli62: 3:48pm On Mar 06, 2019
A Federal High Court sitting in Owerri on Tuesday sacked the governorship candidate of the Social Democratic Party (SDP) in Imo State, Okey Ezeh.

The court has also ordered the Independent National Electoral Commission (INEC) and the SDP with immediate effect to replace Ezeh’s name with that of Mr Casmir Anyanwu.

Anyanwu had approached the court to challenge the candidacy of Mr Ezeh for the March 9 governorship election, arguing that he was the legitimate governorship candidate of the party in the state.

He also argued that he emerged winner of the party’s primary election held on Oct. 6, 2018.

Anyanwu had told the court that he polled 855 votes out of 1,409 cast to defeat other aspirants while claiming that Ezeh never participated in the said primary election.

He also alleged that Ezeh was still a member of the All Progressive Grand Alliance (APGA) and therefore did not participate in the election.

Delivering judgment, Justice Tijjani Ringim, said that the SDP had conducted primary elections on the said date.
Ringim also held that in line with Section 133(2) of the Evidence Act, the plaintiff was the winner of the said election.

Ringim further ordered SDP, to replace Ezeh’s name with that of the plaintiff and to submit same to the INEC, in line with Section 87(4b) of the constitution.

Reacting to the judgment, counsel to the plaintiff, Mr S. A. Anyalewechi, expressed satisfaction with the judgment, adding that it was a vindication of Nigeria’s democracy.

Also reacting, Mr Kemdirim Ebere, counsel to Ezeh, expressed his belief in the judiciary as the last hope of the common man, adding that his client might appeal the decision after further deliberation.

Meanwhile, Anyanwu has said that his party would have an open door for an alliance with any party even as the election comes up in a few days.

He stated this on Tuesday while briefing newsmen. Anyanwu said: “Let it be on record that with this judgement, we are all winners; therefore I appeal to all party faithful to remain united and support our common agenda come Saturday election.”

https://www.akelicious.net/2019/03/breaking-court-sacks-okey-ezeh-imo-sdp.html

Politics / Card Readers Mandatory In Saturday’s Polls, INEC Insists by mrakeli62: 8:43am On Mar 06, 2019
The Independent National Electoral Commission (INEC) said the use of smart card readers (SCRs) is mandatory in Saturday’s governorship and State Houses of Assembly elections.
INEC National Commissioner and Chairman Information and Voter Education Committee, Festus Okoye, said this in Abuja yesterday.

Okoye said the clarification became necessary following allegations, since the conduct of the February 23, presidential and National Assembly elections, that INEC was selective in the use of smart card readers.

He said the allegations had led to speculations that INEC might be forced to jettison the use of SCRs in the state and FCT area council polls.


He said: “To clear any doubt or ambiguity, we wish to state that the deployment and mandatory use of SCRs in next Saturday’s elections will not only be uniform but also universal.”

Besides, the Free Lagos Orange Movement (Otoge Lagos) has alleged that National Leader of the All Progressives Congress (APC), Bola Ahmed

Tinubu was making plans with his loyalists to rig Saturday’s governorship and state Assembly elections.

They claimed that Tinubu who is scared of loosing grip of Lagos, is now more than ever desperate to rig the election, and has given all the party members in the council and the state executive council marching orders to ensure that his candidate, Babajide Sanwo-Olu emerges against all odds on Saturday.

The group further called on Lagosians to be vigilant so that the desperados do not endanger nascent democracy through their brigandage and acts inimical to free, fair and peaceful election.

Speaking at a press conference yesterday in Lagos, Co-convener of the movement, Mark Adebayo who spoke on behalf of the other conveners including Spokesperson of Afenifere, Yinka Odumakin and human rights activist, Olisa Agbakoba said the people of Lagos must be given the freedom to choose who leads them.

Meanwhile, Prelate, Methodist Church of Nigeria, Dr. Samuel C. Kanu Uche, yesterday charged the Federal Government and INEC to ensure credible election and create an enabling environment for Nigerians to vote.

He stated this at a media briefing yesterday in Lagos, noting that the Church in the interest of peace, stability and prosperity of the country and its citizens want the government to emulate the United Kingdom, France, Germany, Ghana and other democratic nations by working toward a credible poll.

He said: “ Let us disallow the intimidation of opposition parties, harassment of opponents or the sponsoring of thugs to intimidate opponents on Saturday, March 9.”

https://www.akelicious.net/2019/03/card-readers-mandatory-in-saturdays.html

Politics / Apostle Suleiman Dumps Atiku, Says Nigeria Not Your Father’s Property by mrakeli62: 2:54pm On Mar 04, 2019
The fiery preacher, Apostle Johnson Suleiman, who condemned President Muhammadu Buhari, has dumped Atiku Abubakar, his candidate in the just concluded presidential election.

Suleiman had earlier campaigned for the candidate of the Peoples Democratic Party (PDP) – Atiku, saying that “it is better to vote for a thief!”

But shortly after losing the election, Suleiman attacked Atiku, saying that Nigeria is not his (Atiku) father’s property.

He also told the PDP candidate in the election not to go to court.

He said this in a video watched by our correspondent.

He said: “Election is a game, if you lose, don’t go to court. Go home! When you lose, don’t go to court, go home. It is not your father’s property. If you do not win today, you will win tomorrow. Go home. No man is God. It is only God that can ordain someone to be President.”

It will be recalled that Suleiman had earlier reportedly fought with members of his family, including his father over his choice of Atiku.

https://www.akelicious.net/2019/03/apostle-suleiman-dumps-atiku-says.html

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Politics / INEC Declares Jerry Alagbaso Winner Of Imo House Of Representatives Seat by mrakeli62: 2:25pm On Mar 04, 2019
INEC Declares PDP Candidate Winner Of Imo Rep Seat

Nigeria’s electoral body, Independent National Electoral Commission (INEC), has declared candidate of the People’s Democratic Party (PDP) Jerry Alagbaso winner of the House of Representatives election held in Orlu/Orsu/Oru East federal constituency of Imo State.

The returning officer, Prof. Innocent Madufor, announced the result at its office in Owerri, the state capital on Monday morning.

Resident Electoral Commissioner, Francis Chukwuemeka Ezeonu had on Saturday, February 23, 2019, declared the elections inconclusive due to violence and snatching of ballot boxes.

Madufor, however, declared Alagboso, who polled 21, 273 votes winner of the election. Action Alliance (AA) candidate, Ikenna Ihezuo polled 2,171 votes, while Edwin Iheanacho of the All Progressives Congress polled 20,061 votes.

Alagbaso is returning to the House of representatives for the third time. He was first elected in 2011.

https://www.google.com/amp/s/guardian.ng/news/inec-declares-pdp-candidate-winner-of-imo-rep-seat/amp

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Politics / 2019 Election: What I’ll Do To Ensure APC Wins Kwara Guber – Saraki by mrakeli62: 7:46am On Mar 04, 2019
Gbemisola Saraki, sister to the Senate President, Bukola Saraki, has vowed that the All Progressives Congress, APC, would produce the next governor of Kwara State.


While Gbemisola is a member of APC, her brother is a member of the Peoples Democratic Party, PDP.

The former Senator made the disclosure in a statement she signed and issued over the weekend.


According to Saraki, “We can’t stop until progressives lead all states to the next level of our collective prosperity. So for each and every one of us, we must not relent, we have the elections of next Saturday, March 9 to go.

“In my state, Kwara, we are all out to ensure that AbdulRahman AbdulRasaq of our party, the APC, emerges the next governor of Kwara State, Insha Allah.”

On the reelection of President Muhammadu Buhari, Saraki said: “As Nigerians, we may indeed share different political leanings but we are united in our love for the greatness of our nation, Nigeria.


“To us in the APC and to our supporters, we find in President Buhari and Prof Osinbajo true leaders that have been and are still working selflessly and assiduously to enthrone a nation, where the greatness of our people and our nation remains our primary goal.

“It is my solemn belief that the wind of true change that re-elected President Buhari and Prof Osinbajo would blow across our land in our drive to elect governors and leaders that would epitomise our collective pride and aspiration of responsible, selfless and diligent leaders thus raising the bar of our development in Nigeria.”

https://www.akelicious.net/2019/03/2019-election-what-ill-do-to-ensure-apc.html

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Politics / Sovereign Fund Commits N50 Billion To Boost Power Generation by mrakeli62: 5:42am On Mar 04, 2019
A subsidiary of the Nigeria Sovereign Investment Authority (NSIA), InfraCredit, has opened a N50 billion 600MW Shiroro Hydro Electric Infrastructure Green Bond to boost the plant and power generation nationwide.

Launched in partnership with GuarantCo, KfW Development Bank and Africa Finance Corporation, the deal is covered by the North South Power Company Limited’s (NSP) N8.5 billion 15-year 15.60 per cent Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bonds Due 2034, operator of the 30-year concession programme.

In a statement, the Executive Vice Chairman/CEO, NSP, Dr. Olubunmi Peters, relished the milestone move.

The Chief Executive Officer, InfraCredit, Chinua Azubuike, noted: “With the completion of the Series 1 Guaranteed Green Infrastructure Bond issuance, the company has established a long envisioned link with a more sustainable long-term, local currency financing required to implement its ambitious strategic power generation expansion plan through the capital markets.


“Infrastructure assets like Shiroro Hydroelectric Power Plant generate social, environmental and economic impact such as contributing to greenhouse gas emission reduction, revitalising disenfranchised areas, improving access to services and creating employment.

“Shiroro Hydro is an extremely essential and resilient asset with a 30-year consistent production history. North South Power, with the acquisition of a 30-year concession in 2013, has demonstrated the competence and ability to deliver on its business targets from restoring capacity target to 600MW and a 45 per cent increase in power generation.”

He added: “We believe that a sustainable and inclusive implementation of the eligible customer framework in a manner that generates economic benefits for all stakeholders will accelerate the industry’s strategic growth. With the success of this first-in-kind transaction, InfraCredit has further demonstrated its pioneering commitment to promoting financial inclusion.

Fund Manager, African Local Currency Bond Fund, James Doree remarked: “The first corporate green bond in Nigeria, issued by North South Power and supported by InfraCredit, sets a benchmark for the domestic and regional capital market. North South Power’s ongoing investments in the Shiroro power station since 2013 have restored nameplate capacity with minimal environmental impact and NSP is now able to generate more than 2,000 GWh on a yearly basis.”

https://www.akelicious.net/2019/03/sovereign-fund-commits-n50-billion-to.html

Politics / Nnpc’s $1.7b Debt To FAAC by mrakeli62: 5:37am On Mar 04, 2019
Another round of trouble is brewing between the Federation Account Allocation Committee (FAAC) and Nigeria National Petroleum Corporation (NNPC) following delay by Nigeria Petroleum Development Company (NPDC), an NNPC subsidiary, to offset the $1.7 billion owed FAAC.

According to a document, FAAC was angry that the NNPC had reneged on its pledge to pay the money.

The document, presented to members at the last FAAC meeting in Abuja, reminded members of “a report at its October meeting where NNPC claimed to have obtained government approvals to procure a loan to offset the outstanding $1.74 billion good and valuable consideration on Shell Petroleum Development Company (SPDC) assets acquired by NPDC. The NNPC promised to obtain the financial value of the loan by the end of fourth quarter, 2018.”

A summary presented by FAAC’s Acting Chairman and Accountant General of the Federation (AGF) Mr. Idris Ahmed noted that NNPC lifted 100,000 barrels of petroleum twice as ‘good and valuable consideration’ due for payment in December.

Ahmed told members that “NNPC at the point of lifting crude oil barrels confirmed that the liftings were the option considered by it to offset the $1.74 billion owed by NPDC.”

FAAC members, particularly states decried NNPC’s handling of the NPDC debt.

Ahmed added “the sub-committee was worried that the option of using 100,000 barrels of crude oil lifting per month would take up to 20 years to settle the NPDC debt. There were still outstanding Royalty and Petroleum Profit Tax (PPT) that NPDC was yet to settle with DPR and FIRS. NNPC should come up with concrete and more acceptable option of settling the NPDC debt.”

It was gathered that a representative of NNPC assured FAAC of the corporation’s commitment to liquidate the debt.

https://www.akelicious.net/2019/03/nnpcs-17b-debt-to-faac.html

Education / NOUN No Longer Second Class Varsity, Says VC by mrakeli62: 6:39am On Mar 03, 2019
Vice–Chancellor, National Open University of Nigeria (NOUN), Prof. Abdallah Uba Adamu, has declared that NOUN has grown beyond being referred to as a second class university in Nigeria.

He said the institution had through its innovation and creativity provided qualitative academic services to thousands of students in Nigeria and beyond.

Adamu, who spoke at the 2019 matriculation ceremony at NOUN headquarters in Abuja, on Saturday, said his vision was to make NOUN the foremost university in Nigeria.

No fewer than 17, 000 students, including prison inmates were officially administered matriculation oath for undergraduate and postgraduate programmes. This cuts across 78 NOUN study centres in Nigeria.

Out of this figure, 500 were admitted to study at a study centre owned by the National Union of Road Transport Workers (NURTW), Abuja.

Director, NURTW study center, Prof. Ibikunle Tijani, who represented the Vice-Chancellor on the occasion, challenged the new intakes to seize the opportunity to acquire knowledge and necessary skills for global relevance.

https://www.akelicious.net/2019/03/noun-no-longer-second-class-varsity.html

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Politics / Election Observer Groups Score INEC 80% by mrakeli62: 7:21am On Feb 28, 2019
Some domestic observer groups numbering 20 Wednesday rose in defence of the efforts put in by the Independent National Electoral Commission (INEC) to conduct the last presidential election in the country.


In their assessment of the performance of the electoral umpire, the observer groups rated INEC 80 per cent, which they said was within international benchmark.

But the position of the domestic observers contrasted sharply with that of the Nigeria Civil Society coalition, the Situation Room, which insisted that the conduct of the polls fell below expectations.

Addressing a press conference on Wednesday, the spokesman of the observer groups and National Coordinator of Organisation of Justice for Equity Sustenance, Mr. Tunde Bafunsho, said there is no doubt that the presidential election marked an appreciable improvement on the previous poll of 2015.

In terms of voter turnout, Bafunsho said Saturday’s participation of voters was overwhelming and unprecedented in the history of the country, adding that there was massive participation of women.

“We wish to commend the electoral management body for their immeasurable contributions to the success recorded during the just concluded presidential and National Assembly poll,” the groups said.

They said of particular interest was the separation of presidential and National Assembly collation centers where presiding officers conducted their activities professionally and transparently.

The observer groups advised that with the conclusion of the presidential election and announcement of the winner, the winner must be magnanimous in victory while losers must also accept defeat with dignity.

They said: “Conducting elections anywhere is never an easy task and requires the constructive input of all stakeholders, including political parties, security agencies, traditional rulers, religious leaders as well as the entire citizenry.

“It is our considered view that the postponement of the presidential National Assembly elections originally slated for the l6 of February and 23 or March 2019 respectively, evidently helped in putting certain measures in place that culminated in the success recorded eventually on the February 23.”

Meanwhile the Situation Room has insisted that the election did not meet the preset expectations of Nigerians in terms of quality and credibility.

A statement issued Wednesday by the Executive Director, Policy and Legal Advocacy Centre, and Convener, Nigeria Civil Society Situation Room, Mr. Clement Nwankwo, said from the observations of the group, that a lot of the expectations on its threshold document were not met.

It, however, urged Nigerians not to allow the shortcomings of the presidential poll to dampen their spirit but be prepared to come out in large numbers to vote on March 9 during the governorship and House of Assembly election.
While congratulating Buhari on his re-election, the Situation Room urged candidates, political parties and indeed citizens, who are aggrieved with the processes and outcome of the elections to go to court.

“Nigeria’s constitutional and legal frameworks have provided avenues to ventilate and seek redress,” it said.

https://www.akelicious.net/2019/02/election-observer-groups-score-inec-80.html

Politics / SERAP Writes Petition Over Electoral Violence, Ballot Snatching by mrakeli62: 7:33am On Feb 26, 2019
Socio-Economic Rights and Accountability Project, (SERAP) has written a letter to President Muhammadu Buhari over electoral violence during Saturday’s presidential and National Assembly Election.

SERAP in a letter dated 25 February 2019 signed by SERAP deputy director Kolawole Oluwadare urged Buhari to refer cases of electoral violence, killings in states like Rivers, Lagos and Oyo to the International Criminal Court (ICC).

The organisation noted that this will serve as a deterrent to offenders and justice to those killed during electoral process.

The statement read: “We urge President Muhammadu Buhari to immediately refer to the International Criminal Court (ICC) pursuant to article 13 of the Rome Statute to which Nigeria is a state party, all allegations of election-related violence, intimidation and killings between 1999 and 2019 for investigation and prosecution.

“It is important to do this to send a powerful message that election-related violence, intimidation and killings will not be tolerated under your watch.

“Referral of the cases of election-related violence, intimidation and killings to the ICC would serve as a deterrent and ensure that Nigerians, particularly victims in the states that have repeatedly witnessed violence and whose human rights have been violated are not denied justice and effective remedies.

“The violence, intimidation and killings in some states around the just concluded general elections suggest that the electoral law and criminal law have over the years not been adequately enforced, and deterrence, through criminal sanctions, is failing.

“ Electoral violence a species of political violence–is not only a criminal act but crimes under international law, given its widespread and systematic nature over many years.

“Apart from undermining the integrity of elections and the democratic process, the repeated failure of successive governments to punish electoral violence has created a culture of impunity among politicians who persistently recruit and arm thugs to intimidate and kill political opponents, and citizens who are simply exercising their rights to participate in their own government.

“The election-related violence, intimidation and killings since 1999 also amount to a crime against deliberation and dialogue; against participation and peaceful means of settling disputes, and a blatant violation of the rights to life; bodily integrity; liberty; freedom of opinion, expression and association; to vote and freely choose elected representatives; property; and to not live in fear.

“Persistent violence, intimidation and other human rights violations around elections undermine the free expression of the will of voters and diminish the opportunity of citizens to hold their representatives to account through the electoral process for their exercise of power and spending of Nigeria’s commonwealth.

“Successive governments have failed abysmally to take positive measures to ensure ballot box security and prevent violence, intimidation and other serious violations of human rights for many years, invariably undermining the authority, independence, and efficacy of the Independent National Electoral Commission (INEC) a body created to ensure free and fair elections as well as obstructing and distorting citizens’ right to freely exercising their right to vote and citizenship.”

“SERAP is concerned about reports of violence, intimidation and killings in many states of the country including Bayelsa, Borno, Rivers, Lagos, and Oyo states. At least 30 people have been reportedly killed and several injured during the just concluded presidential and legislative polls. Like previous elections since the return of democracy in 1999, the 2019 general elections of February 23, 2019 have witnessed violence, intimidation and killings in several states.

“SERAP therefore urges you to move swiftly to implement these proposed recommendations as a way of demonstrating your government’s commitment to end the culture and legacy of election-related violence, intimidation and killings in the country, ensure prosecution of suspected perpetrators and justice for victims as well as ensure the safety and security of Nigerian voters, observers and other people in subsequent elections.

“We also urge you to consider setting up a complementary national mechanism in the form of a commission of inquiry to investigate election-related violence, intimidation and killings between 1999 and 2019 in order to gather evidence relating to allegations of serious violations of human rights and crimes under international law and ensure the effective prosecution of politicians and others responsible for arming political thugs to commit these atrocities.

“Citizens are entitled to the internationally recognized right to a free and fair election, expressed in the principles of the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ to which Nigeria is a state party. The African Charter has been domesticated as part of our domestic laws.

“Establishing a commission of inquiry to investigate election-related violence, intimidation and killings since 29 May 1999 would help Nigerians to know exactly those behind these egregious violations of human rights and to bring suspected perpetrators and their sponsors to justice as well as contribute to preventing and deterring such incidents in future elections.

“The proposed commission should be led by a retired justice of the Court of Appeal or the Supreme Court of Nigeria. The activities of the commission must be open to the public and all the governors of states that have repeatedly witnessed election-related violence, intimidation and killings should be summoned to give a public account of the number of abuses that have been recorded in their states over the years.

“The commission should make recommendations including on the prosecution of those found to have perpetrated directly or indirectly or are complicit in committing these criminal acts and serious violations of human rights.

“SERAP also notes that Nigeria is a key member of the Economic Community of West African States (ECOWAS), which has “accountability, economic and social justice and popular participation in development” as part of the fundamental principles contained in its Revised Treaty. In a similar way, Nigeria is a state party to the UN Convention against Corruption. Article 1(c) of the Convention states the purpose of the treaty as including: ‘To promote integrity, accountability and proper management of public affairs and public property.’”

https://www.akelicious.net/2019/02/serap-writes-petition-over-electoral.html

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Politics / Breaking: Buhari Defeats Atiku In Kano With 1.07m Margin by mrakeli62: 7:07am On Feb 26, 2019
The All Progressives Congress (APC) Presidential candidate, President Muhammadu Buhari has defeated the Peoples Democratic Party’s (PDP), Alhaji Atiku Abubakar in Kano State with over 1,073,195 margin.

The Collation Officer for the Presidential election in Kano, Prof. Magaji Garba, announced this on Tuesday following the collation of the result from the 44 local government areas of the state.

He said that the APC Presidential candidate scored 1,464,768 to defeat the PDP candidate who scored 391,593 votes.


He added that, “the total registered voters in the state are 5,391,581, while total accredited voters are 2,006,410.

“The total votes cast during the election on Saturday is 1,964,751 and the total valid vote is 1,891,134, while the total rejected vote is 73,617.”


Below is the breakdown of the result as announced by the electoral officers from all the 44 Local Government Areas of the state.

Ajingi
APC: 21,458
PDP: 5,267

Albasu
APC: 26,412
PDP: 10,285

Rano
APC: 23,855
PDP: 7,055

Kibiya
APC: 18,085
PDP: 11,023

Gezawa
APC: 29,954
PDP: 8,246


Gwale
APC: 50,834
PDP: 12,283

Bebeji
APC: 26,023
PDP: 8,190

Minjibir
APC: 27,725
PDP: 5870

Garko
APC: 22,356
PDP: 2,840

Kabo
APC: 29,482
PDP: 8,955

Kiru
APC: 29,739
PDP: 12,205

Doguwa
APC: 25,454
PDP: 7,013

Shanono
APC: 24,173
PDP: 8,469

Danbatta
APC: 31850
PDP: 6947

Wudil
APC: 28755
PDP: 5108

Bichi
APC: 42714
PDP: 11050

Dawakin Kudu
APC 39,261
PDP 10,751

Kura
APC 34,996
PDP 9,047

Kumbotso
APC 53,923
PDP 11,366

Takai
APC 38,477
PDP 5,877

Nasarawa
APC 84,289
PDP 16,140

Makoda
APC 24,749
PDP 3,234

Fagge
APC 31,010
PDP 15,492

Kano Municipal
APC 65,579
PDP 15, 523

Tarauni
APC 52,585
PDP 7,323

Dala
APC 65,047
PDP 16,711

Rogo
APC 32,991
PDP 12,465

Tofa
APC; 19,984,
PDP; 7732

Garun Malam:
APC, 23810,
PDP 4861.

Gaya
APC: 25,864
PDP: 6,577

Kunci
APC: 20372,
PDP: 4,983

Bagwai
APC: 23,375,
PDP: 10584

Bunkure
APC: 27,232
PDP: 9528

Karaye
APC: 23023
PDP: 8265

Rimin Gado
APC: 20,589
PDP: 10,305

Madobi
APC: 26110
PDP: 13113

Dawakin-Tofa
APC: 37417
PDP: 6507

Tudun Wada
APC 38,865
PDP 10,707

Gabasawa
APC: 24420
PDP: 6130

Sumaila
APC 34,609
PDP 4904

Tsanyawa
APC 25,823
PDP 5399

Gwarzo
APC 33,581
PDP 10,682

Ungogo LGA
APC: 51,842
PDP: 10,475

Minjibir LGA
APC: 27,725
PDP: 2840

Grand Total
APC 1,464,768
PDP 391,593

https://www.akelicious.net/2019/02/breaking-buhari-defeats-atiku-in-kano.html

Politics / Oyo APC Petitions INEC Over Ajimobi’s Defeat by mrakeli62: 1:26pm On Feb 25, 2019
The Oyo State Chapter of the ruling All Progressive Congress (APC) has petitioned the Independent National Electoral Commission over what it described as anomalies that led to the defeat of the Governor Abiola Ajimobi in his bid to return to the Upper Chamber of the National Assembly.

A petition attached with a police report has been delivered to the registry department of the electoral umpire.

The document was delivered by the Oyo State APC Director of Research and Strategy, Dr Azeez Olatunde at about 12:30, Monday.

According to sources, the document had earlier been brought to the commission’s office on Sunday when the party got winds of some anomalies in some voting areas in the district but was not collected and told to be represented on Monday.

Olatunde who was upbeat about the result noted his party did not lose the election but robbed of victory as political thugs were uses to unleashed mayhem on party supporters in some parts of the state which led to the death of a young boy.

Dr Kola Balogun of the PDP was declared winner by the returning officer, Professor Wole Akinsola after polling 105,720 votes while Ajimobi (APC), incumbent Senator Adesoji Akanbi and Dr Fola Akinosun (ADP), polled; 92, 218; 49, 437; and 13, 149 respectively.

https://www.akelicious.net/2019/02/oyo-apc-petitions-inec-over-ajimobis.html

Business / Fake $100 In Circulation, ABCON Warns by mrakeli62: 4:26am On Feb 23, 2019
The Association of Bureaux De Change Operators of Nigeria (ABCON) on Friday alerted members of the public about ongoing security investigation into fake $100 bills allegedly imported into Nigeria from India.

ABCON President, Alhaji Aminu Gwadabe, disclosed this in a statement after the association’s National Executive Council (NEC) meeting in Lagos.

Gwadabe said the $100 bills were majorly counterfeit. He said some of the fraudsters’ objective was not only to make profit, but to undermine Nigeria’s chances for automatic membership of the Financial Action Task Force (FATF) after assessment of the country’s financial system scheduled to hold before March.


The ABCON boss said the issue of fake dollar in circulation had been observed and reported to relevant security agencies, adding that the ABCON, had in the interest of the economy and Bureaux De Change (BDCs) businesses, secured Central Bank of Nigeria (CBN) and Economic and Financial Crimes Commission (EFCC) backing to begin nationwide campaign against fake currencies in the country.

He said rising cases of fake currencies in circulation had led to huge losses to BDC operators and the economy.

Gwadabe said ABCON would continue to educate members of the public on how to identify fake dollar bills in order to protect the image of the country in the eyes of foreign investors.

“It is part of our objectives which in enshrined on our constitution as an association to eliminate the incidences of fake currencies circulation thereby enhancing the image of the country and transparency in our operations,” he said.

Gwadabe said the ABCON NEC had released a guide to all BDCs on how to detect a fake dollar bill.

He disclosed that there are seven dollar bills of $1, $2, $5, $10, $20, $50 and $100 and seven steps to authenticate each of them.

“The weight of each bill is one gram, 2.61 inches wide and 6.14 inches length. It is 75 per cent cotton and 25 per cent linen. Your finger can feel thickness and texture. “Besides, the portrait water mark is partly overlapped by the Treasury seal, while the $100 bill is printed on the right side of the bill.

The strip is thin, faint and runs vertically from top to bottom to the left of the watermark portrait. Also, the 3D security ribbon, also called the thread, is bright blue and vertical on the bill,” he said.

Continuing, Gwadabe explained that the raised printing feels rough on right shoulder of Benjamin Franklin portrait while the colour shifting ink works under ultra violet light.

He added that the dollar bill undergoes micro printing, which is the production of recognisable patterns or characters in the bill at a scale that requires magnification to read with the naked eye. To the unaided eye, the text may appear as a solid line.

https://www.thisdaylive.com/index.php/2019/02/23/fake-100-in-circulation-abcon-warns/?amp

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Politics / I Didn’t Order Disruption Of Fg’s Tradermoni –amosun by mrakeli62: 5:36am On Feb 22, 2019
Ogun State Governor, Ibikunle Amosun, said he never ordered anybody to disrupt the Federal Government’s social security scheme, also known as Tradermoni, in the state.

Amosun, who said he got information, on Tuesday, that some politicians and suspected hoodlums had stormed the popular Lafenwa Market, in Abeokuta, the state capital, and demanded the traders’ permanent voter cards (PVCs) in return for money, said the programme was not Tradermoni, but a ploy to induce the electorate ahead of tomorrow’s election.

Hoodlums suspected to be political thugs were reported to have stormed the venue of the federal government’s Tradermoni scheme at the market, on Tuesday, and disrupted the empowerment programme.

But the governor, speaking with newsmen, yesterday, insisted that the programme was not federal government’s empowerment programme.

He said ‘TraderMoni’ is a structured programme that does not request beneficiaries’ PVC numbers and details.

He argued that as a governor, he cannot sit idly and allow disservice to be done to the lofty idea of President Muhammadu Buhari, allegeing that some politicians were behind the “fake Tradermoni programme” to con voters few days to election.

“Yesterday, you read in the papers that Ogun state governor, Amosun disrupted Tradermoni. Tradermoni is not just done by putting pen to paper.

“Some hoodlums just went there, let me use that English, they called us from the market that some people came o, to say they should bring their PVCs, bring their names, bring their numbers.

“Of course, I know the vice president handles Tradermoni; that’s not how it is done. It is a structured programme.

“Not two days to elections, some people would just carry one paper, give them exercise book, bring your PVC, write your name.

“How can I sit down as a governor and allow that to happen? They called that some people came and asked them to bring their PVCs.

“And I said don’t worry, come and see me. When they came, they told us what was happening, that some people phoned them to bring their PVCs, that they should be writing their names and phone numbers.

“That is not Tradermoni; that would be a disservice to the lofty ideals of why Tradermoni was put together.

“It was just a way to con our people to part with their PVCs. I just told them, ignore them. That was all,” Amosun said.

https://www.akelicious.net/2019/02/i-didnt-order-disruption-of-fgs.html

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Business / Cement Firm Builds N11b Power Plant by mrakeli62: 6:47am On Feb 21, 2019
Ashaka Cement Company, has unveiled plans to inaugurate its N11 billion 16-megawatt power plant.

The firm, a subsidiary of Lafarge Africa, said the power plant project started in 2017 would improve and solve the country’s energy problem.

The Managing Director of the company, Mr. Rabiu Abdullah Umar, unveiled during the 2018 award ceremony for its distributors.

He said the power plant, would not only release additional megawatts to the national grid, but also create employment opportunities, boost operational efficiency and tackle the high energy cost of the largest industry in Nigeria’s northeast.

“Last year, we started our power plant, which is an N11billion project, and we will inaugurate the project soon, signalling the end to the use of generators for our operations.

“So, we are helping to remove ourselves from the demand for energy, and providing our own solution, which means a minimum of 16 megawatts of electricity, will now become available to the public grid for the people in the region to enjoy from.

The power plant is our biggest plan aimed at reducing our costs,” he added.

The power plant, infrastructure, and cement capacity are all testament to this commitment to the development of Nigeria.

We are celebrating a good year and look forward to even better collaboration in 2019.”

Also speaking, the Country Chief Executive Officer, Lafarge Africa, Michel Puchercos, expressed appreciation to all the distributors for their remarkable performance in keeping the Lafarge range of products among the top brands in the market.

“For your commitment to results through the years and in 2018 in particular, Lafarge Africa says a big thank you, and we look forward to a more fruitful year in 2019.

“This year, we are set to change the way we do business with our customers by empowering our customers to become partners.’

https://www.akelicious.net/2019/02/cement-firm-builds-n11b-power-plant.html

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Politics / We Can’t Disobey Buhari’s Order, Buratai Tells Atiku by mrakeli62: 4:30am On Feb 21, 2019
The Chief of Army Staff, Lt. Gen. Tukur Buratai, Wednesday accused the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, of inciting the military to disobey President Muhammadu Buhari’s lawful orders, saying this is an unthinkable proposition in the military.

The president had told his All Progressives Congress (APC) party leaders at a meeting on Monday that he had asked the military and the police to deal ruthlessly with ballot box snatchers, saying miscreants who attempt to disrupt Saturday’s presidential and National Assembly elections would do so at the expense of their lives.


Buhari’s statement received searing attacks from opposition parties’ leaders, one of them Atiku, who at an emergency meeting of the PDP leadership, advised the Army not to obey unlawful orders.

But Buratai took issues with Atiku Wednesday and demanded that the PDP presidential candidate withdraws his advice which he said was tantamount to incitement.

“It is unfortunate to hear persons who are aspiring to rule this country again inciting the army to disobedience,” the army chief said, adding: “We have consistently stated our position in the political dispensation to remain neutral and apolitical.”

He added: “However, direct and public incitement of the Nigerian Military against democracy and constituted civil authority will not be tolerated. I request such persons to withdraw this inciting statement.”

The PDP quickly rose to the defence of its candidate last night in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan, warning the army chief not to drag the troops into politics.

Buratai, who spoke at a meeting with principal staff officers, and military commanders at the Army Headquarters, Abuja, however, said the military remained apolitical, warning that incitement would not be tolerated.

He said: “Let me re-emphasise loud and clear, that the Nigerian Army is a professional army. The foundation of military professionalism is discipline and without discipline an army cannot stand.

“One of our core values is loyalty to constituted authority. Loyalty must be 100 per cent. I shall leave you in no doubt as to our resolve to bequeath a professionally responsive army to Nigeria and Nigerians.”

He warned that officers who are not given to loyalty should resign before the election.

He added: “Should any officer or soldier have doubts as to his loyalty to the Nigerian state as presently constituted, such a person has up to February 22, 2019 to resign. There is no room for indiscipline or disobedience to lawful orders in the Nigerian Army today.”

He said those seeking to undermine democracy should be regarded as enemies of democracy.

Buratai told the officers: “I wish to first remind all of you that the unity of Nigeria is not negotiable. Hence those who seek to undermine our democracy by interfering in our electoral process must be seen as enemies of Nigeria and dealt with appropriately.

“Our role is aptly captured in the 1999 Constitution of the Federal Republic of Nigeria (as amended) and we must defend Nigeria’s territorial integrity as well as act in aid of civil authority when called upon to do so.

“Therefore, commanders must work with all stakeholders, interest groups and agencies to avert any act by any individual, groups or entities that seek to undermine our democratic process.”

Buratai noted that electoral thuggery, ballot box snatching and illegal possession of electoral materials, are acts designed to mar elections.

He warned commanders not to hobnob with politicians, restrict movements within their areas of responsibility and conduct extensive patrols while suspicious persons and vehicles are to be searched.

He directed commanders to deal decisively with any electoral crime or action that would be inimical to national security, and advised them to ensure that they and their personnel do not hobnob with politicians at any level.
The army chief said there would be no military escort for any politician, warning soldiers to stay clear of retired military officers, especially those who are now politicians until after the elections.

He said: “Commanders are to conduct extensive patrols within their Area of Responsibility (AORs). They must ensure that all flash points within the area are dominated.

“Commanders must in conjunction with the Nigerian Police enforce the restriction on movement within their AORs. All vehicles must be searched and suspicious persons or vehicles arrested/impounded and later hand over to the NPF.”
The army chief further directed commanders to ensure they key into the NA Elections Security Monitoring Situation Room to send and receive near real-time information on events, as they occur in their Area of Responsibility (AOR).



PDP: Don’t Drag Army into Politics

The PDP replied the army chief immediately and cautioned him not to drag the army into politics, advising him to refrain from acts or actions that would suggest in any way that the military has become an arm of a political party.

It described Buratai’s allusion to Atiku as well as his threats to officers and ranks to execute the unlawful order by Buhari to participate in the electoral process as an aberration of laws and a recipe for crisis.

The main opposition party said that Buratai should concentrate on his very demanding assignment of protecting the territorial integrity of the nation and ending insurgency rather than dabbling into partisan politics at the risk of national cohesion.

The PDP said Buratai should note that the loyalty of the military is to the state and that the president lacks the powers, under the laws, to deploy soldiers for the conduct of elections.

It stated: “It is imperative to state that by trying to drag the military to participate in the February 23 presidential elections, President Buhari plots to suspend our constitution, assume the position of an emperor, trigger unrest, subvert our electoral process and derail our democracy.”

The party urged Buhari to avail himself to the judgment of the Federal High Court, Lagos on March 23, 2015, wherein the court, presided over by Justice Ibrahim Buba, directly outlawed the deployment of troops in the conduct of elections in the country.

The PDP also said Buhari should also avail himself of the subsisting judgment of the Court of Appeal, which on February 15, 2015, held that the president has no powers to deploy soldiers in the conduct of elections.
It also counselled Buhari and Buratai to end their rationalising military option, as the courts have summarily dismissed their arguments that soldiers are needed to guarantee peaceful elections.

The PDP said it might interest Buhari to know that the judgment was sequel to a suit filed by the APC leader in the House of Representatives, Mr. Femi Gbajabiamila, seeking a declaration that deployment of soldiers during elections is illegal and unconstitutional.

“In case, President Buhari is not aware, as usual, the court directly held that the armed forces have no role in elections and if soldiers must vote, they must do so in their barracks,”it said.

The PDP said the court had held: “The time has come for us to establish the culture of democratic rule in the country and to start to do the right thing particularly when it has to do with dealing with the electoral process, which is one of the pillars of democracy.

“In spite of the behaviour of the political class, we should by all means try to keep armed personnel and military from being a part and parcel of the electoral process.

“The state is obligated to confine the military to their very demanding assignment, especially in this time of insurgencies by keeping them out of elections.”

https://www.akelicious.net/2019/02/we-cant-disobey-buharis-order-buratai.html

Politics / PDP Will Be Defeated On Saturday - Tinubu by mrakeli62: 4:17am On Feb 21, 2019
All Progressives Congress (APC) Presidential Campaign Council Co-chairman Asiwaju Bola Tinubu yesterday urged party members in Lagos to intensify the mobilisation for Saturday’s rescheduled presidential and National Assembly elections.

Noting that the Peoples Democratic Party (PDP) was jittery, he said the ruling party will defeat the opposition party at the poll and put it to shame.

The former Lagos State governor also explained why Igbo in Lagos should vote for the APC, saying that the government in the Centre of Excellence has never discriminated against them and other non-indigenes in the distribution of the dividends of democracy.

Tinubu, who urged women leaders to mobilise traders for the crucial poll, also advised youths to heed President Muhammadu Buhari’s advice by shunning thuggery, ballot snatching and other forms of violence.

He advised party faithful to accommodate defectors from the rival PDP, saying that they had become legitimate members of the fold whose cooperation are required for mobiliasation for victory.

Tinubu, who urged them to use their index fingers to thumb print on the ballot paper, advised the party agents and canvassers to be vigilant.

He said: “You agents must report early. Be vigilant. Shine your eyes. If an agent goes to ease himself, the canvasser will take his position. A canvasser is also an agent.”

The party said there will be a meeting of party leaders with council chairmen at his Ikoyi residence today to discuss the preparations for the Saturday election.

Exuding confidence, he said: “We will win on Saturday and we will hold a celebration rally next week.”

Tinubu addressed party members, shortly after the stakeholders’ meeting at the party secretariat on Acme Road, Ogba, Ikeja.

The meeting was attended by Governor Akinwunmi Ambode; his deputy, Dr. Idiat Adebule; Secretary to Government Tunji Bello; governorship candidate Babajide Sanwo-Olu, his running mate Obafemi Hamzat; and APC Governorship Advisory Council (GAC) members – Prince Tajudeen Olusi; party chairman Tunde Balogun; one-time Finance Commissioner Olawale Edun; Prince Abiodun Ogunleye; Chief Busura Alebiosu; Chief M.A. Taiwo; Chief Murphy Adetoro; Chief Mutiu Aare; Alhaji Akanni Seriki; Olorunfunmi Basorun; Dr. Yomi Finnih; Chief Muyiwa Sosanya and Cardinal James Odunmbaku.

Other chieftains included: Former Minister of State for Defence Demola Seriki; former Deputy Governor Olufemi Pedro; Oyinlomo Dammole; Ademorin Kuye; APC Vice Chairman (Lagos West) Funso Ologunde; party secretary Wale Ahmed; publicity secretary Joe Igbokwe; his deputy Abiola Salami; Senators Musiliu Obanikoro; Ganiyu Solomon; and Adeola Olamilekan; Southwest APC Women Leader Mrs. Kemi Nelson; Lagos APC Women Leader Jumoke Okoya-Thomas; Mrs. Fausat Gbadebo; Cornelius Ojelabi; Ayodele Adewale; Mrs. Olayinka Oladunjoye; Mrs. Yetunde Arobieke; Sanwo-Olu’s campaign manager Tayo Ayinde; Mrs. Kafilat Ogbara; Arewa leader Kabiru Ahmed; Chris Ekwilo and House of Assembly members-Wasiu Eshilokun; Rotimi Abiru and Tunde Braimoh.

Welcoming the chieftains and party followers, Balogun urged them to pass Tinubu’s message to other members who are busy in their local governments with door-to-door campaigns at the wards.


Tinubu, who told the party congregation that he has not slept for three days, owing to his involvement in preparations for the polls, urged members to gird their loins.

He said: “Are you ready for the polls? Go out on Saturday. Don’t’ be discouraged. Take your PVCs. Go and vote and we will win. Who are we fighting? It is the PDP.”

Reflecting on the postponement of the poll, he said the Independent National Electoral Commission (INEC) ship ran into turbulence, praying that the ship should land safely and happily on Saturday.

Tinubu, who spoke in English and Yoruba, said: “INEC will land safely and happily on this election and APC will win. They destroyed INEC office and materials in Abia. They are finished on poll day. We will bury PDP. They don’t want you to vote. They don’t want you to be around. Their plot has failed.”

He added: “We are not fighting INEC. There is no nation without obstacles. No leadership without challenges. Leadership must address the challenges. We are in a growing democracy. I was governor during the bomb explosion at Ikeja in 2002. It was very daunting. But, we responded and cared about our people. That is the concern of all of us and President Muhammadu Buhari.

“WE are not fighting INEC. INEC is not our opponent. We are going to compete and we will defeat them. They do not have our strength in the Southwest, Northwest, Northeast, Middle Belt. How will they win?”

Warning against hypocrisy and divisive tendencies in the political family, the party leader said leaders were aware of the allegations against a chieftain from Badagry, Mr. Bamgbose, who has refused to work for the party after benefiting from the party’s slot.

Tinubu, who advised members to mobilise vigorously to demonstrate the strength of the APC in Lagos, said defectors to the party should be carried along.

He said: “You should emulate me. I have accommodated Obanikoro, Demola Seriki and Da Silver. This is a good example of leadership. We are a big party. We cannot but offend ourselves. As you beg God for forgiveness, you should learn to forgive your fellow human beings.”

Turning to the women, Tinubu said: “Don’t rest in your local governments. Go to the markets and stalls. Mobilise them to vote.”

He also said members who have problems and complaints should not hesitate to inform their leaders at the ward and local government levels.

Stressing the importance of grassroots mobilisation, Tinubu said: “Get the attendance register at the ward. Call meetings. You know the number of polling units in your areas. Work hard. You must win. Tomorrow, I will hold meeting with the 57 council chairmen at Bourdillon.”

The former governor admonished youths to shun unruly behaviours on poll day to avoid unpleasant consequences.

He said: “Let me warn our boys. You heard President Buhari’s warning on thuggery, ballot snatching. You heard him. I don’t command an Army. The Permanent Voter Card (PVC) is my Army. We must go out to vote for president Buhari and our National Assembly candidates on February 23 and our governorship and House of Assembly candidates on March 9. The warning is: don’t fight.”

Tinubu also warned some restless youths against the harassment of of esteemed party elders during meetings, saying that anyone who is culpable is an agent of the PDP. He said APC is interested in celebrating democracy and not violence.

Urging Igbo in Lagos to vote for the APC, he said: “We appeal to our Igbo brothers from the East. This is the state where you conduct your business. Your children are in our schools. There is no discrimination against them in WAEC, NECO and tertiary fees. This time, we are asking you to help us. We will look at the votes from Ojo, Alaba, Surulere, Amuwo Odofin, Ajeromi Ifelodun.”


https://www.akelicious.net/2019/02/2019-poll-pdpll-be-defeated-on-sat-says.html

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Politics / Rescheduled Polls: INEC Begins Distribution Of Sensitive Materials In Oyo by mrakeli62: 6:04pm On Feb 20, 2019
The Independent National Electoral Commission (INEC) in Oyo State on Wednesday commenced the distribution of sensitive materials at the Ibadan branch of the Central Bank of Nigeria (CBN)

Mutiu Agboke, the Resident Electoral Commissioner (REC) in Oyo State, led the staff of the commission in sorting and documentation of the election materials for each of the 33 local government areas.

Agboke told newsmen at the venue of the exercise that the sorting and documentation were painstakingly carrying out to avoid any mix-up.

He said movement of the materials to the respective local government INEC offices would commence after verification of the materials assigned to each local government.

”The exercise will be on till Thursday and each of the vehicles with the materials will leave CBN to INEC state headquarters to collect Smart Card Readers (SCRs) before proceeding to their respective destinations.

”Each of the vehicles carrying the materials will be escorted by armed security personnel to ensure the safety of the materials, ” he said.

Agboke also said that the materials available for Saturday’s polls were adequate, assuring the electorate that the commission was ready to conduct a transparent and credible electoral exercise.

He urged all eligible voters to come out on Saturday to exercise their franchise.

”Votes of the electorate will count and determine winners of the elections, ”he said.

The distribution of the materials was witnessed by agents of the participating political parties in the state.

https://www.akelicious.net/2019/02/rescheduled-polls-inec-begins.html

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Politics / N’assembly Resumes Plenary Today by mrakeli62: 5:22am On Jan 16, 2019
The National Assembly will resume plenary today after a 25- day adjournment.

The lawmakers had on December 20, 2018 adjourned plenary till January 16 a day after receiving the N8.8 Trillion 2019 budget from President Muhammadu Buhari.


Sources close to the lawmakers said that the highlight of today’s plenary will be the formal presentation of the 2019 Appropriation Bill to both chambers of the National Assembly by Senator Danjuma Goje (APC Gombe) and Hon. Mustapha Bala (APC Kano), Chairmen of Senate and House Committee on Appropriations, respectively.

A ranking Senator who would not want to be named, told our reporter that once the Appropriation Bill is presented before the lawmakers, it will be referred to the relevant committees of both the Senate and House of Representatives to work on.

That in essence means the Bill will pass the first reading today before being committed to second reading that will take the form of committee work during which time ministers and heads of parastatals will be expected to appear before the relevant committees to defend the budgetary allocations to their ministries and agencies.

With election about a month away, Senators and House members who got the re-election ticket of their respective parties may not be at plenary today because there are indications that some of them are still busy campaigning in their respective senatorial districts and federal constituencies.

This was confirmed by some of the legislative aides of the affected lawmakers who told Akelicious that their principals are still busy in their constituencies and may not be around for today’s plenary.

President Buhari had on December 19, 2018 presented the 2019 budget estimate of N8.83 trillion to the National Assembly with N305 billion being earmarked for fuel subsidy during the fiscal year.

The president who presented the budget proposal to the 469 members of the National Assembly at the House of Representatives Chambers said government would continue to subsidise fuel price so as to reduce the burden on the citizenry.

https://www.thisdaylive.com/index.php/2019/01/16/nassembly-resumes-plenary-today/?amp

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Politics / Assembly Increases Bauchi 2019 Budget By N2bn by mrakeli62: 6:50pm On Jan 15, 2019
The Bauchi House of Assembly on Tuesday passed the state’s 2019 Budget Bill, less than a month after it was presented to it by Gov. Muhammed Abubakar.

The legislature increased the budget by N2 billion to bring its overall size to N198, 849, 074, 280.00.

The News Agency of Nigeria (NAN) reports that the governor presented to the house a budget estimate of N196,722, 411, 436.00, on Dec. 20, 2018.

The Chairman of the House Committee on Appropriation, Mr Ibrahim Hassan, said during the passage that the legislature received and considered the report of the committee before passing the budget.

“As regards the newly established government agencies such as the Health Care Trust Fund and Health Contributory Agency, which have adequately received much attention in the 2019 proposed estimates, the government should release funds for their take-off and other logistics support service in order to achieve the desired objectives.

“Just as Section 121 of the 1999 Constitution, as amended, empowers the governor to lay before this honourable House the income and expenditure estimates of the state for the next financial year by way of an appropriation bill, Section 4 empowers the legislature to make laws for peace, order and good governance of the state.

“The committee, therefore, in consideration of the observations and recommendations made by various MDAs, this honourable. House resolved to increase the budget size by N2 billion to fund such vital heads in the budget for the betterment of our state.

“Having thoroughly examined the above, the committee recommended a total budget size of N198, 849, 074, 280.00 only, made up of recurrent expenditure of N82, 654, 333, 859.00 and capital expenditure of N116, 194, 740, 421.00,” Hassan said.

https://www.akelicious.net/2019/01/assembly-increases-bauchi-2019-budget.html

Politics / INEC Commences Recruitment Of Ad-hoc Staff Ahead Of 2019 Elections by mrakeli62: 7:52pm On Jan 14, 2019
With barely a month to the 2019 general elections, the Independent National Electoral Commission (INEC), has commenced recruitment to fill some ad-hoc positions.

INEC disclosed that interested Nigerians can apply for the role of registration Area Technology support.

In a tweet on its verified Twitter handle, the electoral umpire said applicants can also apply for the role of Local Government Area Technology Support.


According to the electoral body, interested applicants should “visit: https:///9Y3i2rI9kS

“INEC Registration Area Tech Support and Local Government Area Tech Support Ad-Hoc RECRUITMENT for the general elections is now open. Shortlisted candidate will provide Tech support at the Reg. Areas and Local Government Area,” INEC tweeted.

https://www.akelicious.net/2019/01/inec-commences-recruitment-of-ad-hoc.html

Politics / APC Says CJN Must Face Trial by mrakeli62: 6:24pm On Jan 14, 2019
The All Progressives Congress has insisted that the Chief Justice of Nigeria, Walter Onoghen, must face his corruption trial at the Code of Conduct Tribunal.

The ruling party said the noise being made by the Peoples Democratic Party and some elements in the bar was an indication of unholy alliance to frustrate the fight against corruption.


This was contained in an address by the National Publicity Secretary of the All Progressives Congress, Lanre Issa-Onilu, on Monday.

“Following the notice of the charges preferred against the Chief Justice of Nigeria, Justice Walter Onnoghen, by the Code of Conduct Bureau at the Code of Conduct Tribunal, the Peoples Democratic Party has been on overdrive vituperating over an issue that should at best be left to the judiciary to resolve,” Issa-Onilu said.

Continuing, he noted, “While we would not want to be lured into discussing issues that are presently before the courts and for which any respectable political party hoping to hold positions of responsibility should restrain itself, we regret to suggest that the PDP’s attempt to hoodwink Nigerians into believing that there is a political motive behind the allegation brought against the CJN might itself be indicative of some unholy alliances.

“The likely affinity existing between the PDP and a section of the judiciary is further accentuated by the nonappearance of Justice Onnoghen before the Code of Conduct Tribunal on Monday, in line with the suggestions made by the PDP governors from the South South on Sunday.

“Are Nigerians expected to see this as a mere coincidence? Is the PDP and their governors acting a script? Haven’t we missed an opportunity to show confidence in an institution headed by the CJN?

“This becomes more worrisome, knowing that the PDP campaigns have been receiving cold shoulders everywhere they have gone to and it has become apparent the party and its presidential candidate are facing imminent defeat in the February 2019 elections and may be searching for some unorthodox means of forcing itself on the Nigerian people.

“If this were not so, the PDP should, before coming to these distracting conclusions, have taken cognisance of the facts of the allegations made against the CJN and his admission to the facts so stated.

“The only logical conclusion in the circumstance is that realising the refusal of Nigerians to allow the deception of the PDP con them into returning the party to power, the opposition party has alongside some pliable human rights activists devised a plot to distract the APC and indeed the good people of Nigeria from addressing the very important issues on the APC’s manifesto in the electioneering process.”


Issa-Onilu claimed that the APC has also noticed “the very dangerous attempt to designate the CJN’s arraignment along ethnic and religious lines, thereby trying to heat up the polity by evoking primordial sentiment which would do the country no good.”

“This is an ungodly ploy when we consider that the CJN was an officer of the federation rather than that of any region,” he warned.

“We therefore urge all Nigerians of good conscience to caution the PDP as the country is bigger than any political party or the interest it represents, and nothing should stop the country’s steady march into sustainable democratic governance.”


In our earlier statement on the CJN’s CCT trial, we had noted the PDP’s shocking and innate proclivity to defend cases of corruption anytime it arises. The call by the PDP’s South South Governors for the CJN’s boycott of the CCT trial further cements our position. Let it be reiterated that nobody no matter how highly placed should be above the laws of the land.

We wish to put on record that the virulent attack that has come from the PDP in the wake of the trial of the CJN over alleged false asset declaration is particularly worrisome and suspicious when the PDP has in fact called for the removal of virtually all heads of government’s arms, particularly the Chairman of Independent National Electoral Commission (INEC) and Inspector General of the Police over frivolous issues.

While the will not be drawn into debates on the legality and sponsored conspiracies of the CCT trial, we insist that our democratic and constitutional institutions must be allowed to operate without interference and undue pressure from partisan and sundry interests as being done by the PDP and its cronies.

The CCT trial is a legal matter, let the law run its course. The CJN must go through the instrumentalities of the courts, more importantly as an institution he represents. Indeed, this is the true test of our constitution, rule of law and will deepen democracy.

Where there are contestations on institutional procedures, we must allow same institutions perform their functions unhindered, autocorrect if necessary and set good precedence on future matters.

This is the only way we can build strong and lasting institutions.

https://www.akelicious.net/2019/01/apc-says-cjn-must-face-trial.html

Business / Analysts See Spike In December Inflation Rate by mrakeli62: 6:22am On Jan 14, 2019
As the National Bureau of Statistics (NBS) releases its December 2018 inflation figures this week, leading research firms in the country, FSDH Research and Financial Derivatives Company (FDC), said in their forecasts at the weekend that the nation’s inflation rate for December 2018 would increase.

FSDH Research expects the December 2018 inflation rate (year-on-year) to rise to 11.69 percent from 11.28 percent recorded in November, while FDC in its bulletin predicts that headline inflation will increase to 11.37 percent in December.

FSDH forecast represents a monthly increase of 0.41 percent between the two months and the highest monthly increase since November 2016.


The expected increase in the inflation rate will reflect higher price increases within the Food and Non-Alcoholic Beverages division and other non-food items due to end-of-year and festivity purchases.

The NBS is due to release the inflation rate for the month of December on Thursday, January 17, 2019, ahead of the Monetary Policy Committee (MPC) meeting scheduled for January 21 and 22, 2019.


The Food Price Index (FPI) report that the Food and Agriculture Organisation (FAO) published for the month of December 2018 remained relatively the same as November 2018.

However, the World Bank has hinted about a possible increase in food prices in 2019 because of severe weather conditions. This may accelerate the inflation rate in 2019 in Nigeria.

The FAO notes that the decline in the prices of dairy and sugar in December were largely offset by the increases in cereal, meat and oils.

FSDH Research’s analysis indicates that the value of the naira depreciated at the Nigerian Autonomous Foreign Exchange (NAFEX) in December 2018, while it appreciated at the parallel market.

The value of the naira depreciated marginally by 0.01% at the NAFEX market to close at US$/N364.18 from US$/N364.16 in November, while it gained 0.14 percent in the parallel market to close at US$/N365.00 from US$/N365.50 in November 2018.

The value of the naira appreciated at the parallel market as a result of newly introduced special ‘Thursday sale’ to Bureau de Change (BDCs) operators.


The depreciation recorded at NAFEX between the two months under review increased the impact of foreign exchange on the prices of imported consumer goods in the domestic market.

Analysts at FDC believe December is a period in which higher festive related spending pushes up aggregate demand in the economy as anecdotal and empirical evidence in December 2018 has validated.

Compounding the demand pull effect of festive spending was the surge in FAAC by 3.12 percent to N812.76 billion. This means that state governments and federal agencies had more liquidity during the period.

Also worth mentioning is that the slope of the inflation curve is getting steeper, suggesting that the 2019 budget inflation benchmark of 9.98% may be unattainable. The average inflation rate in 2018 was 12.14 percent down from 16.54 percent the 2017 average.

https://www.independent.ng/analysts-see-spike-in-december-inflation-rate/amp/

Business / UAE Energy Minister Says Average Oil Price In 2018 Was $70 Per Barrel by mrakeli62: 6:09am On Jan 13, 2019
United Arab Emirates Energy Minister Suhail al-Mazrouei said on Saturday the average oil price in 2018 was $70 a barrel.

The Organization of the Petroleum Exporting Countries and other leading global oil producers led by Russia agreed in December to cut their combined oil output by 1.2 million barrels per day to balance the oil market starting from January.

“Today we look at an average year of around $70 for Brent,” Mazrouei told an industry news conference in Abu Dhabi, adding that this level would help encourage global oil investments. An energy ministry spokesman said the minister was referring to the average oil price in 2018.

https://www.akelicious.net/2019/01/uae-energy-minister-says-average-oil.html

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