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[size=13pt]Nigeria Needs $10bn Annually to Achieve 40,000 MW[/size] The Federal Government Thursday said for Nigeria to achieve 40,000 Megawatts by 2020, it has to make an investment of $10 billion annual over the next 10 years. Minister of Power, Prof. Bath Nnaji, however, explained that government did not have such money and said that underscored the need for the Federal Government to partner the private sector to achieve this feat. The Minister, who was represented by the Special Adviser to the Minister, Mr. Chukwuemeka Adinuba, at a symposium organised by the construction and engineering services group of the Lagos Chamber of Commerce and Industry (LCCI), said based on this development, as early as 2005, the government, through the National Assembly, passed the electricity power reform bill into law to confront any stumbling block to the realisation of the Federal Govern-ment’s target to generate 4,000 Megawatt, by year 2020. “In other words, the six power generation companies and the 11 distribution firms will become private sector-owned companies in the first quarter of 2012. The Transmission Company of Nigeria (TCN) will remain government-owned but managed by a firm with a well established record and reputation,” he said. He added: “The determination to do the right thing in the power sector, no matter whose ox is gored, explains our disengagement and redeployment of some chief executive officers and other executives in the Power Holding Company of Nigeria (PHCN) system since a new administration came into being in the Federal Ministry of Power.” He said the ministry had set up a committee to fold up PHCN but expressed regret that it had been confronted by people from all angles the ministry did not expect. “We are determined because we have the support of the President. We have made it clear that the President is not a politician otherwise he would have insisted on PHCN and its supported companies remaining government-owned and managed,” he added. He, however, cautioned that even though the country achieves 40,000 Megawatts, it would not be enough to solve the needs of the country. He cited South Africa as an example, saying that country with a population of about 47 million was still battling with inadequate power supply, adding that with Nigeria’s current population, 40,000 Mega-watt would not be able to meet the power needs of its people. “So, we need to do more than 40,000 Megawatts. As a result we are looking at ways to augment what we presently have. Currently we have two major sources which are hydro and thermal. We are now adding the third source which is coal. “We are building three coal fire power stations in Enugu, Gombe and Kogi. Nigeria’s coal is the highest in terms of quality in the world. It is only coal from Australia that can compete with Nigeria. We are doing 1,000 Megawatts in each station,” he added. Also speaking at the event, the President of LCCI, Otunba Femi Deru, said apart from the investment in the 40,000 Megawatts, there were substantial investments that needed to be made in the other aspects of the supply chain, including the transmission and distribution networks. He said in a developing country, the government had a fundamental responsibility to provide infrastructure and security to stimulate private investment and guarantee real economic growth. “The success or failure of a government should be measured by its performance in these areas. My plea therefore is that while we pursue the reforms, we need to reconstruct our priorities in favour of more investments in infrastructures,” he said. He added that the management of utilities should be insulated from the bureaucracy and political interference in the country and said that the problem with most of the utilities was not so much the lack of resources but the appalling quality of management and scandalous corruption. http://www.thisdaylive.com/articles/nigeria-needs-10bn-annually-to-achieve-40-000-mw/99070/ |
[size=13pt]Ajimobi challenges senators to raise help for Oyo over Ibadan flood[/size] Oyo State Governor, Senator Abiola AJimobi, has challenged senators to raise the issue of the devastating flood in Ibadan as a matter of urgent national attention in order to secure Federal Government’s help on the disaster. He threw the challenge to senators when members of the minority caucus in the Senate paid him a visit in his office in Ibadan yesterday. The senators were in the city to assess the extent of damage done by the flood as well as commiserate with the governor and the people of the state. The visit came after the senators had backed the governor on the call for assistance from the Federal Government over the August 26 flood in Ibadan. The caucus, led by Senator Ganiyu Solomon, visited the city on Friday to have an on-the-spot assessment of the extent of the damage caused by the flood. Other members of the caucus included Senators Oluremi Tinubu, Gbenga Kaka, Babafemi Ojudu, Abu Ibrahim, Femi Lanlehin, Gbenga Ashafa, Ayoade Adeseun, Gbenga Obadara, Ifeanyi Ararume, Olubunmi Adetunmbi and Prof. Segun Adeyeye. After visiting some parts of the city affected by the flood, the senators said they agreed with Ajimobi that the state alone cannot address flooding problems in the city. They also agreed that the state would need up to N100 billion to tackle the problem in view of the huge damage to infrastructure and the need to channel rivers. The senators inspected Oke Ayo in Ibadan South West Local Government area; Babanla in Ona-Ara Local government and the collapsed dam in Eleyele Waterworks. Solomon commended Ajimobi for his quick response and management of the tragic incident by providing relief materials and reconstructing some collapsed bridges as well as initiating plans to avert a reoccurrence. The senator promised to assist the state government in accessing financial assistance from the Ecological Fund, which was put in place for such purpose, adding that the notes taken by the senators would be considered at committee level. http://www.thenationonlineng.net/2011/index.php/news/20681-ajimobi-challenges-senators-to-raise-help-for-oyo-over-ibadan-flood.html |
[size=13pt]Customs intercepts 40-ft container of explosives at Lagos port[/size] •Soldiers arrest another man with bomb items in Port Harcourt Officers of the Nigeria Customs Service, Tin-can Island Command yesterday impounded a 40-ft container suspected to be loaded with explosives. The container was seized by Customs officers at Five Star Logistic Terminal, Tin-Can Island port, Lagos.The container with serial number KK FU7662007 was said to have been shipped into the country by an importer who was at large with his clearing agents. The items in the container, were said to have been declared by the importer as children toys, rechargeable lamps and lanterns.The name of a governor in the South-East was written on some of the cartons containing the items. An intelligence source told The Nation that some senior officials of the command swooped on the terminal after a tip off to the effect that a suspicious cargo had been brought into the country from China. The discovery was made a few weeks after the command intercepted a sack loaded with United States of America (USA) dollars. Speaking with reporters at the scene of the incident yesterday, the Area Controller of the command, Comptroller Ekpowei Edike said the shipment was successfully tracked by his officers and men after a re-invigoration exercise embarked upon by the Comptroller General of Customs, Alhaji Abdullahi Dikko. Intense surveillance of the Customs High Command, he said, had paid off in form of the physical examination his officers conducted on the container, which led to the discovery and seizure of the explosive items. He said investigation had revealed that a large quantity of dangerous items suspected to be explosives were found inside the container. ‘’The quantity is frightening and the methods adopted in its concealment paints a horrendous picture of how dangerous the items could be if they found their ways into the public,’’ Edike said. The Customs chief assured that investigations were ongoing and that those who were involved in the illegal importation of the dangerous items would not go scot free. Edike also commended customs officers and men of the command who spent days and nights on the field in making the seizure a success. The affected governor could not be reached for comments at press time, as he was said to have travelled abroad. Efforts made to get his media aides for comment also yielded no result. In a related development, Eagle-eyed soldiers keeping sentry at the gate of the 2 Amphibious Brigade, Bori Camp, Port Harcourt yesterday arrested a middle-aged man with materials suspected to be explosives. The man, whose identity had not been disclosed at press time, was trying to drive into Bori Camp through its Aba road main gate at about 1 pm when the soldiers who were on duty fished him out. The Army Public Relations Officer, Lt-Col Aminu Iliayasu, who confirmed the arrest, also said that the “man was arrested with items suspected could be used to do something harmful.”Iliayasu also said the man was in the custody of the army while investigation continued. http://www.thenationonlineng.net/2011/index.php/news/20685-customs-intercepts-40-ft-container-of-explosives-at-lagos-port.html |
[size=13pt]FG to sack security chiefs over collusion with Boko Haram[/size] Panic as soldiers nab man with bomb in PH By Kingsley Omonobi, Abuja and George Onah Port Harcourt The federal government is likely to sack some security chiefs over their collusion with Boko Haram, Saturday Vanguard has learnt. It was also gathered that the Presidency has commenced investigation into how and when a ‘confirmed and hardened’ adherent of Boko Haram, Mr. Ali Tishau, who was in police detention on allegations of terrorism, was released to the Defence Intelligence Agency (DIA) on the request of a former Chief of Defence Intelligence (names with-held), found his way to the African Independent Television (AIT) to grant an interview where he claimed that ‘Nigeria police hid bomb warnings from the Presidency’. Also, there was a Boko Haram scare at the 2 Amphibious Brigade in Port Harcourt, Rivers State, yesterday, following the arrest of a man who was driving into the barracks with items suspected to be materials for bombs. It was not known whether the bombs had been assembled for detonation within the barracks. However, spokesman of the brigade Major Iliyasu in a text message to the press said, “between 12 noon and 1 pm today (Friday), soldiers on guard arrested a middle-aged man at the gate of the 2 Amphibious Brigade in Port Harcourt as he tried to drive into the barracks. “He was arrested with items suspected could be used to do something harmful. Disclosure of the items found and identity of the suspect or where he comes from would surely jeopardize investigation.” Saturday Vanguard gathered that the arrest was made possible by the high alert, which the soldiers had been placed, leading to the closing of all exit and entrance gates in the cantonment. The Ikwerre Road-end of the barracks which used to serve as exit gate has been permanently locked while the Aba Road-end serves as the exit and entrance gate, where vehicular and movements and pedestrians are thoroughly frisked. In Abuja, Presidency sources told Saturday Vanguard that from the content of a document made available to the office of the National Security Adviser (NSA), Tishau’s arrest and instigation of Boko Haram was a topic of discussion at a meeting of the National Security Council which subsequently ordered his arrest on 20th December 2010. Thereafter, he was detained, interrogated and arraigned at the Chief Magistrate Court 1, Abuja on 28th of March 2011, but he was granted bail. Following Police incontrovertible evidence that he was a kingpin of the Boko Haram sect, Tishau was re-arraigned at the FCT High Court on 7th May 2011 where he was again granted bail. Saturday Vanguard was told that the Police also rearrested him for security reasons, to face further prosecution. Meanwhile, it was learnt that, “On the 27th of June 2011, the Chief of Defence Intelligence, Major General Babagana Mongonu, requested the Police force in writing, to hand over the suspect to the Defence Intelligence Agency (DIA), to enable the agency conclude their own investigation of Tishau, which was obliged by IGP Hafiz Ringim on 27th July 2011, with a proviso that the suspect be returned to the Police in line with normal security practice. “It was therefore shocking and a surprise to see the Mr. Tishau being interviewed on Television” the source said, adding that, “it is now clear that some top shots are working for interests other than that of the nation.” On its part, the Nigeria Police force yesterday washed its hands over insinuations that ‘it hid the bomb warnings from the presidency’, pointing out that there is no iota of truth in the claim that the self acclaimed Boko Haram member gave useful information to the Police on the spate of bombings that occurred recently. It was gathered that the change of baton at the DIA, resulting in the appointment of Major General Sani Yakubu Audu as the Chief of Defence Intelligence, was a precursor to the expected changes. Curiously, government’s decision for DIA is said to have met with stiff resistance, until President Jonathan put his feet down and ordered that government’s order be obeyed. The resistance, it was learnt, would have led to a crisis of confidence in the country’s security sector. According to a statement signed by DCP Olusola Amore, Force Public Relations Officer, the suspect, Mr. Ali Tishau was released to a sister organization for investigation in the spirit of information and intelligence sharing. “To date, he has not been returned to the Police” he said adding, “The alleged panic mood among the security chiefs is the figment of imagination of those peddling insinuations, as security agencies were building synergy to contain the present security challenges facing the nation”. Continuing DCP Amore said, “In continuation of the efforts of the Nigeria Police force to combat illegal movement of arms, ammunition, illegal movement of immigrants along our border with Niger and other countries, the IGP held a meeting on Thursday September 22, 2011 at Force headquarters, which comprised Customs, Immigration, SSS and sister security agencies from Niger Republic”. “This is in order to fashion out a workable strategy and feasible ways to address and combat trans-border crimes, criminal elements and unlawful possession of prohibited firearms within the region, while taking cognizance of the current terrorism as well as political upheavals within and outside some of our neighbouring states”, he said. http://www.vanguardngr.com/2011/09/fg-to-sack-security-chiefs-over-collusion-with-boko-haram/ |
[size=13pt]Nigeria’s unity not negotiable – Mark[/size] BY HENRY UMORU, ABUJA SENATE President David Mark said yesterday that the unity or indivisibility of Nigeria was not negotiable, just as he pleaded with Nigerians not to despair because benefits of a united nation far outweigh the reversed order. Speaking when he led members of the 3rd regular course of the Nigeria Defence Academy (NDA) alumni association 1967 set on a courtesy visit to the Oba of Benin , Erediauwa 11, the Senate President said that irrespective of the security and other challenges confronting the nation, Nigeria as a country must strive towards ensuring that the unity of the country remains our watchword. In a statement signed yesterday by his Chief Press Secretary, Paul Mumeh, Senator Mark who urged both the government and the led to brace up to the challenge of nationhood, stressed that Nigerians have accepted democracy as a way of life, adding, ‘’we must do our best to perfect the process so that we can all reap the dividend of democracy. ‘’The unity and progress of Nigeria through a democratic process is the desire of all citizens. We must therefore provide a suitable environment for democracy to thrive” He reiterated the resolve of the 7th National Assembly to commence immediately the process of amending the 1999 constitution to correct the imbalances assuring that traditional rulers would be given a place of pride in the proposed arrangement. His colleagues who have served in various military formations he said have continued to contribute their quota to unity and development of the nation. Responding, the Oba of Benin, Oba Erediauwa who thanked the delegation for their continued contribution to nation building, however urged them not to relent in their various endeavour. According to Mumeh, the Senate President who also paid a courtesy call on Governor Adams Oshiomhole of Edo State, implored government at all levels to make the welfare and security of the citizenry their watchwords. He told the governor to uphold the tempo of development in the state so that the citizenry continues to reap their investment on democratic government. In his remarks, governor Oshiomhole said he has recorded modest achievements that have earned him the respect from the people, promising not to rest on his oars in that stead. http://www.vanguardngr.com/2011/09/nigeria%E2%80%99s-unity-not-negotiable-mark/ |
They were warned on NL on this thread: https://www.nairaland.com/nigeria/topic-706047.0.html |
LBD28:sent. |
^Thanks. |
Pukkah:Unfortunately i doubt anything will change till the whole system collapse for as long as majority of Nigeria only think along ethnic/region divides, many people keep thinking we should leave GEJ and not criticize him because he is a man from our region. Some people never see and will never see anything wrong with GEJ because he is the lucky man from the south. The question I think we need to ask ourselves is, what benefits has the North received for having their men in power for more than 35 years? Or what development went to Ogun state (lets not even talk of the whole SW or the entire South) for having Obj in power? When we ought to be demanding for good governance, these people are using us to fight along ethnic/zone/region divides while they rob us dead, unfortunately many of us cannot see the big picture, we are the big looser for it. |
@Demdem I get your point, I was looking at an holistic solution. Yeah a serious attempt at reducing this high cost of governance wont be bad too, but I doubt Mr president is also thinking along that line judging from the comments of Madam Iweala. |
Demdem:Yes I agree he is the president and a lot rest on his shoulder, but even if he has the will and the balls to attempt these changes, I do not see the 469 members of the legislature working with him. This constitution we are operating 1st need to be thrown into the bin to start with and we need to seriously look into our system of government again, then we can deal with the operators of this system. Majority of Nigerians need to stand up everywhere and shout 'enough is enough' to start with. |
These are hard facts! Unfortunately, this is beyond GEJ or any other politician for that matter, yet things cannot continue like this. According to our finance minister, in 4 years time she would only manage to reduce the cost of running government by 4%. If something drastic doesn't happen soon, then I will say we are doomed as a Nation. |
STATEMENThttps://www.facebook.com/notes/goodluck-jonathan/66th-united-nations-general-assembly-speech/283350445025931 |
[size=13pt]Gang violation suspect identified – Minister[/size] The Minister of Youth Development, Mallam Mobolaji Abdullahi, said on Thursday, that one of the suspects in the gang violation of a yet-to-be identified female had been identified. Reports say the five men who violated the young woman recorded the act, which was later uploaded to the Internet. The incident, which is believed to have occured in Abia State sparked outrage nationwide. He, however, expressed doubts that the suspects would be convicted based on the available evidence. Abdullahi said this in Lagos at a meeting with youth organisations. The minister said, “More than 70 per cent of the information we have on the violation will not be said here for obvious security reasons. But I can tell you we have information on it. “The girl is not a student of Abia State University. She was violated in an off-campus residential area of students. “One of them (suspects) has been identified conclusively.” Although the faces of the rapists are not seen in the video, the minister said the National Human Rights Commission was on top of the situation. He said, “Some legal experts have told us that it may be difficult to convict the rapists because the video does not reveal the face of the victims. “The National Human Rights Commission is working with the Ministry of Youth Development. The commission, which is headed by a competent lawyer, is on top of this case. “This is law, if we can not press for violation, there are other charges that we can press. I can assure you that justice will be done.” The minister, at the meeting, fielded questions from some of the 50 selected participants, among whom were Fela Durotoye and Omotola Jolade-Ekeinde, on national issues bearing on youth. He promised that his ministry would organise a conference for not just potential violation victims but potential rapists, to address the ugly trend among youths. He also reiterated his plan to review the National Youth Service Corps, saying corps members would no longer be posted to banks and other private institutions. He said, “We are looking into possibility of stopping corps members from serving in bank and other private institutions. Some people have said it is correct while some have said it is not. But any private institution that wants a corps member must sign an undertaking that it will employ such corps member after his service.” The minister, who admitted that corruption was a menace in the country, said the prevalence of corruption could not be wholly blamed on the government but the kind of the nation’s society. “The issue of corruption has to do with the kind of society we live in. This is a society where the respect given to people depends on the type of car they drive. The society still turns back to say people are corrupt,” the minister said. http://www.punchng.com/Articl.aspx?theartic=Art201109234144737 |
Odunnu:Sorry no vex. na my fault. We were having our normal couple 'discussion' while she was making that post, she was going to write something beautiful for you then i took the discussion to a new level and she forgot all she wanted to write and just clicked reply. No vex, we still love you. |
@Beaf I got your report. I was told you were banned for 120hrs for posting an Unclad picture of 2 men taking an oath (I think Alausa is the name for one of the men). |
[quote author=BABE! link=topic=741076.msg9199982#msg9199982 date=1316712066]The thought of this happening is giving me a headache sef--- Na crase? I'd hear the news; go to my mum's house/ hospital to scrutinize the damage my wife had caused. I wouldn't lay a finger on my wife though. In fact, I'd start acting extra nice to her; I'd do all the house chores; buy her super-expensive gifts for job well done. Exactly after two weeks she beat my mother, I'd go to her mother's house with two hefty guys. Fifteen minutes later, the guys and I would leave the house in handcuffs, and her mother will leave in an ambulance. Shikena.[/quote]Am suspecting a male guy just stole BABE!'s password or . . . ![]() |
^Ok. Thank You. I will go through them. |
[quote author=alj_harem link=topic=490918.msg9195002#msg9195002 date=1316653802]Mods now as u can see tribalism has started again thanks to aloy-emeka, High_chief, htzta, lax90, asha80, etc among others oh yes pointB, south-east, ngohaiha/andre uweh as well I hope you people have the decency enough to delete their post I do not hope to start my own because it would be worse than ever before and i can really be terrible, call me a kid na your wahala be that the ibo people would never learn as u can see and I don try hold myself from the way they rubbish the yorubas and hausas everyday pls just to let u know in advance. thanks your truly, alj harem uche. [/quote]You have been told on several occasions to always supply the link to your complaints. You do not expect use to go through all the threads on these section to find your complaint, do you? ![]() |
[quote author=Ileke-IdI link=topic=490918.msg9191929#msg9191929 date=1316617637]I dont understand how I requested for something and it was TOTALLY ignored. The least that could have been done would be to give some kind of response. I understand if the request cannot be made, but atleast respond. Simple etiquette. Anywaz. . . .[/quote]Sorry madam Ileke, I have recommended the thread to the home page managers. If they find it suitable, they will add it. ![]() |
[size=13pt]Terrorism: Jonathan urges world leaders to unite[/size] https://vml1.s3.amazonaws.com/wp-content/uploads/2011/09/Jonathan-un.jpg BY DANIEL IDONOR NEW YORK— PRESIDENT Goodluck Jonathan Wednesday urged world leaders to unite in the global war against terrorism, so as to ensure a peaceful world in the future. Delivering an address at the 66th session of the United Nations General Assembly, UNGA, in New York, United States, President Jonathan said “We must win the war against terrorism because it infringes on the fundamental rights of all peoples to life and safety from fear”. He lamented “the increasing use of terror in various regions of the world as a form of political action” and warned that such action “poses serious threat to international peace and security”. He commiserated with the “UN family for this barbaric and heinous attack against those who have dedicated their lives to helping others,” and reassured the world of the country’s preparedness to tackle terrorism. Jonathan said “for us in Nigeria, terrorist acts, rather than intimidate, will only help to strengthen our resolve to develop appropriate national strategies and collaborate even more closely with the international community in the fight against this menace”. He disclosed that “as part of Nigeria’s efforts to fight terrorism, I signed into law the Terrorism (Prevention) Bill 2011 and the Anti-Money Laundering (Prohibition) Amendment Act on the 3rd of June this year. The new laws not only outlined measures for the prevention and combating of acts of terrorism, but also prohibit the financing of terrorism and laundering of the proceeds of crime. Nigeria will continue to work with the UN and other partners in this global fight”. The president reaffirmed Nigeria’s readiness to collaborate with the international communities in the fight against terrorism saying that “Nigeria is working closely with the UN Counter Terrorism Implementation Task Force, CTITF, the Counter Terrorism Executive Directorate, CTED, as well as relevant international bodies and friendly countries to sharpen our response mechanisms. In this connection, the UN Counter Terrorism Implementation Task force is launching its first project in Abuja in November 2011, aimed at conflict prevention and countering the appeal of terrorism to youth through education and dialogue”. The president said “in addition, Nigeria is a member of the new global body, the Global Counter-Terrorism Forum (GCTF), initiated to galvanize and pull our efforts together to fight the scourge in all its ramifications. We pledge to continue to work with all stakeholders, as we enlarge and intensify our partnerships”. Jonathan who spoke on the nation’s successful April polls and other sundry issues affecting the world declared that “for the world to move from a culture of response after conflict to that of a culture of prevention, the international community must muster the political will to promote preventive diplomacy, in particular through mediation”. He stressed that the measure “will necessarily entail re-dedicating greater human and financial resources to institutions and mechanisms that already exist within and outside the UN system for conflict prevention and resolution”. Going forward, President Jonathan proposed “the establishment, under the Secretary-General’s Office, a Conflict Mediation Commission, to be charged, among others, with the collation of information on conflict situations across the world, identify the dramatis persona and develop appropriate strategies for initiating resolution of such conflicts”. The Commission he explained further “will also develop rules of engagement, including sanctions which would apply to those who may obstruct efforts to resolve conflicts peacefully”. http://www.vanguardngr.com/2011/09/terrorism-jonathan-urges-world-leaders-to-unite/ The president recalled the challenges Nigeria has been facing in the past few months with the “upsurge of terrorist attacks in parts of our country.” |
[size=13pt]Nigerian cocoa output to double by 2015: minister[/size] [img]http://234next.com/csp/cms/sites/dt.common.streams.StreamServer.cls?CONTENTTYPE=image/jpeg&STREAMOID=VWJqITl9cN0VQaUtizRVyy6SYeqqxXXqBcOgKOfTXxQ90uUnMrqN9YkWXbNqS2OGnW_PgxgftuECOcfJwS6Jtlp$r8Fy$6AAZ9zyPuHJ25T7a9GKDSxsGxtpmxP0VAUyHL6IDcZHtmM2t7xO$FHdJG95dFi6y2Uma3vSsvPpVyo-[/img] Nigeria's cocoa production will double in the next four years, while wheat and rice imports are set to fall as Africa's most populous nation strives to be more food self-sufficient, the country's agriculture minister told Reuters. Nigeria, the world's fourth-largest cocoa producer, has had stagnant output over recent decades due to poor infrastructure and a focus on its oil business, the mainstay of sub-Saharan Africa's second-largest economy. Agriculture Minister, Akinwunmi Adesina, said cocoa production would rise to 500,000 metric tonnes by 2015, from around 250,000 metric tonnes now, aided by improved infrastructure and financing. "We need to get our farmers the right kind of cocoa seedlings, revamp our plantations and improve the quality of our cocoa that is supplied by our farmers, that means that we must provide them with better fertilizers," he told Reuters in the capital Abuja. "We have a programme with the Central Bank of Nigeria (CBN) where we have leveraged from commercial banks 450 billion naira for lending to private sector, to farmers, fertilizer companies, food manufacturers." A series of previous agriculture ministries have promised to boost cocoa production above 500,000 metric tonnes but have failed to deliver. Agriculture contributed around 40 percent of GDP last year and provides around 70 percent of employment, according to the national statistics bureau. However, the sector has been on the decline since the 1960s and Nigeria remains a net importer of food, while oil exports account for around 95 percent of foreign exchange revenues. Adesina has pledged to grow more rice, which he says Nigeria spends 356 billion naira a year on importing, and reduce wheat imports by 10 percent, replacing the lost product with cassava as an alternative for flour mill owners. "We don't have comparative advantage in wheat production. We are currently spending 635 billion naira importing wheat into this country but yet we have farmers producing cassava." "It is very clear that substitution of 10 percent cassava flour for wheat flour is fine for bread and for confectionary and it will create a huge amount of jobs here in Nigeria that alone will mop up around 500,000 metric tonnes of cassava roots in this country and stabilise prices for farmers." Flour mill owners would be offered incentives to use cassava, he added. Poverty President Goodluck Jonathan has said agriculture is the key to reducing unemployment and poverty in Nigeria, where most of the 140 million inhabitants live on less than $2 a day and spend around 80 percent of their income on food. The knock-on effect for real incomes from food production is particularly apparent as food makes up around 50 percent of consumer inflation. The CBN has made keeping inflation under control a priority of monetary policy. "We need to very quickly raise the production of food that will lower the cost of food for people in the market and therefore real wages will rise, so that is our goal. It is not just food for food sake it is food for the whole economy, to reduce inflation and for boosting jobs," Adesina said. Unemployment is feeding unrest in Nigeria with increased ethnic and religious tensions in the central "Middle Belt", where the largely Christian south meets the mostly Muslim north, killing hundreds in the last three months. Meanwhile, a radical Islamist sect in the remote northeast has been behind almost daily shootings and bombings, including a suicide attack at the U.N. building in Abuja last month that killed at least 23 people and wounded more than 100. "I think while there is no question we have a number of ethnic and religious undertones but I think the fundamental problem is we have a lot of unemployment," the minister said. "Youths don't want (unrest) they want employment." The minister's plans are heavily reliant on success in other areas of the economy, including the gas sector to boost fertilizer production and improve quality and the power and transport sectors to improve infrastructure to attract foreign investment. The petroleum minister has laid out a road map for harnessing Nigeria's gas reserves, the seventh-largest in the world, and has agreed deals in principle to build two fertilizer plants and five fertilizer blending plants. Persistent power outages are a major brake on Nigeria's economy and the solution is long-term. The power ministry hopes to double power output to 6,000 megawatts by 2013 but this only scratches the surface of the 40,000 megawatts the country needs. Political wrangling and corruption have prevented Nigeria from utilising its vast energy resources for domestic needs in the past several decades. REUTERS http://234next.com/csp/cms/sites/Next/Home/5743173-146/nigerian_cocoa_output_to_double_by.csp |
[size=13pt]Nigeria slip down in FIFA rankings[/size] Nigeria dropped five places to 43rd in the latest FIFA rankings released on Wednesday by the world football governing body. The team moved up five places in the August edition but losing to Argentina on September 6 negated any advantage they would have got in their victory over Madagascar in a 2012 Africa Cup of Nations qualifier two days earlier. Ivory Coast, who are rated best in Africa, dropped one place to 16th while Egypt and Ghana also lost places to stay at 36th and 37th respectively. Nigeria were directly placed behind Burkina Faso and Senegal, who were 41st and 42nd respectively. Senegal moved up seven places to gain their new status. Algeria (46th) and Cameroon (48th) completed the African teams in the top 50 of the rankings. Meanwhile, Spain displaced the Netherlands to regain their top spot of the rankings. The leaders only lost the position once since winning the 2010 World Cup in South Africa. With England having taken a tumble (8th, down 4), Germany (3rd, unchanged) now sit directly above Uruguay (4th, up 1), who occupy their highest-ever position on the global ladder. Other movers towards the summit were Portugal (5th, up 3), Italy (6th, up 1) and Brazil (7th, down 1). FIFA said the highest climbers of the month won one or more of their FIFA World Cup or continental qualifying matches. It added that the latest rankings were the result of 170 Grade A international matches, of which 109 were FIFA World Cup or continental qualifiers and 61 were friendlies. http://www.punchng.com/Articl.aspx?theartic=Art20110922354146 |
[size=13pt]Naira depreciates to lowest level in two years[/size] The naira on Wednesday fell to its lowest level in over two years against the United States’ dollar. This, according to foreign exchange dealers, is as a result of the continued inability of the Central Bank of Nigeria to meet the demand for the dollar; a development which they said had stretched for straight 21 days. At the inter-bank market, the naira closed at N157.92 to the dollar, down from Tuesday’s figure of N157.20. Traders told Reuters that the current position of the naira was its weakest since August 14, 2009, when it hit N158 per dollar. Out of $560.54m requested for by dealers at the official window on Wednesday, the apex bank only sold $350m at N154.42 to the dollar. The CBN had the preceding day sold $350m at N153.91 as against $467.6m demanded by dealers. “The initiatives taken by the CBN both in raising MPR and other measures of tightening our fiscal policy may mean well but are telling on the forex market,” the Managing Director and Chief Executive Officer, Atlass Portfolios Limited, Mr. Ubale Yahaya, told our correspondent. “The naira for some time now has persistently fallen against the dollar and this is not good for our currency.” The CBN, among its other reforms, had on Monday raised the Monetary Policy Rate by 50 basis points from 8.75 to 9.25 per cent. Meanwhile, traders stressed that the pressure on the naira was largely due to the actions of the regulatory bank, as they argued that the apex financial institution had over time refused to meet the demands of dealers. “The central bank has consistently allowed the depreciation of the naira at its auction in past months and with a large inventory of unmet demand, putting further pressure on the available dollar stocks at the inter-bank market,” a dealer told Reuters. According to traders, the inter-bank market usually takes a cue from the trends at the bi-weekly foreign exchange auction. They however, noted that local unit of US energy firm, Exxon Mobil, sold about $50m to selected banks, but it was not enough to provide support for the naira. The traders expressed worries that the local currency might continue its downward plunge if the apex bank failed to intervene. “The naira is going to continue to experience steady depreciation until the end of the year as long as there is strong demand and the CBN fails to meet market expectations,” another trader, who pleaded anonymity said. http://www.punchng.com/Articl.aspx?theartic=Art20110922322340 |
[quote author=sholly_boy link=topic=266144.msg9193343#msg9193343 date=1316630473]@@OAM4J kindly send me the form please[/quote]sent. You can also download it here: http://www.nigeriacrb.com/Police%20Report%20Form.pdf |
Recall that I informed you that inflation dropped from 10.2% in June to 9.4% in July. I am pleased to say that the inflation rate again dropped to 9.3% in August as confirmed by the CBN and independent international organizations. This is as our economy grew by 7.72% in the second quarter. As we tighten fiscal and monetary policies and direct resources to education (which has the highest allocation in the budget), power and roads, we will also see similar growth in our developmental indices. GEJhttp://www.facebook.com/jonathangoodluck/posts/239381299445585 |
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