SALUTARY IMPACT
Saturday, 21 May 2016
Four FUTA Students Killed In Auto Accident
According to Vanguard, Four students of the Federal University of Technology, Akure, died in a road accident on the Akure-Ilesha expressway in Ifedore Local Government Area of Ondo State on Saturday.The spokesman of the Police Command in Ondo State, Mr Femi Joseph, confirmed the incident andsaid that 11 others sustained various degrees of injuries.The students were returning from Ibadan after attending a religious programme.Joseph further confirmed that the remains of the students were deposited at the Ondo State Specialist Hospital, Akure, where those injured were hospitalised.No fewer than 15 students were in the Hiace bus when the accident happened.The police spokesman said that preliminary investigation had revealed that the accident involved a Hiace bus carrying the students and a motorcycle.“The accident happened when the bus’ driver lost control while trying to avoid the motorcycle that suddenly appeared on the highway.“The bus somersaulted several times after trying to manoeuvre its way,’’ Joseph said.He said policemen and marshals ofthe Federal Road Safety Commission were at the scene to assist the deceased and those injured.Mr Segun Oladele, President of the FUTA chapter of the Students’ Union Government (SUG), who alsoconfirmed the deaths, said that those injured were responding to treatment.
Stop Blowing up Oil Installations Buhari Tells Niger Delta Aven
Nigeria's President Muhammadu Buhari has urged militants in the Niger Delta blowing up oil installations to drop their confrontational stance and work with his government to review the Amnesty Programme initiated by the Yar'Adua regime.
Speaking at a meeting with the Global Director (Upstream) of the Royal Dutch Shell Group, Andrew Brown, Buhari said he'd directed the Chief of Naval Staff to reorganise and strengthen the military Joint Task Force (JTF) in the Niger Delta so as to deal the resurgence of militancy and the sabotage of oil installations in the area.
Mr. Buhari also told Mr. Brown that the operations of the JTF were being enhanced with increased support and cooperation from the United States and Europe in the areas of training, intelligence, equipment and logistics.
“We have to be very serious with the situation in the Niger Delta because it threatens the national economy. I assure you that everything possible will be done to protect personnel and oil assets in the region,” Buhari said
nigerianbulletin
Speaking at a meeting with the Global Director (Upstream) of the Royal Dutch Shell Group, Andrew Brown, Buhari said he'd directed the Chief of Naval Staff to reorganise and strengthen the military Joint Task Force (JTF) in the Niger Delta so as to deal the resurgence of militancy and the sabotage of oil installations in the area.
Mr. Buhari also told Mr. Brown that the operations of the JTF were being enhanced with increased support and cooperation from the United States and Europe in the areas of training, intelligence, equipment and logistics.
“We have to be very serious with the situation in the Niger Delta because it threatens the national economy. I assure you that everything possible will be done to protect personnel and oil assets in the region,” Buhari said
nigerianbulletin
Friday, 20 May 2016
More Details on How Chibok girl was rescued by Nigeria Army
One of the 219 schoolgirls kidnapped from their school dormitory in Chibok, Borno State, in April 2014, has been rescued from Sambisa Forest. This came as troops of 7 Division of Nigerian military special clearance and rescue operations, otherwise known as Operation Crackdown, Tuesday, cleared Boko Haram terrorists out of their Njimia camp within Sambisa forest. The girl, Amina Alli, was reportedly found near the edge of the large forest, close to Cameroon’s borders. The girl is said to have escaped while on a mission to gather firewood to prepare meal for one of the leaders of the Boko Haram leaders keeping her. A statement by Colonel Sani Kukasheka Usman, Acting Director, Army Public Relations, confirmed that one of the abducted Chibok schoolgirls was among those rescued by troops at Baale, near Damboa.
Read more at: http://www.vanguardngr.com/2016/05/how-troops-rescued-missing-chibok-schoolgirl/
Read more at: http://www.vanguardngr.com/2016/05/how-troops-rescued-missing-chibok-schoolgirl/
Thursday, 19 May 2016
Sevilla Beat Liverpool to Win Europa League
Spanish football club on Wednesday came back from a goal down to trounce Liverpool in Basel in the Europa league final.
sturridge_goal.jpg
Daniel Sturridge put the Reds ahead with a fantastic curling effort in the first half before Kevin Gameiro equalized 17 seconds into the second half with a simple tap-in.
Once they leveled Sevilla dominated and minutes later went ahead through Coke's brilliant first-time hit. Coke then beat the offside trap for his second which killed off Liverpool.
Sevilla are the first team to win a major European title three years in a row since Bayern Munich won the European Cup three times between 1974 and 1976.
nigerianbulletin
sturridge_goal.jpg
Daniel Sturridge put the Reds ahead with a fantastic curling effort in the first half before Kevin Gameiro equalized 17 seconds into the second half with a simple tap-in.
Once they leveled Sevilla dominated and minutes later went ahead through Coke's brilliant first-time hit. Coke then beat the offside trap for his second which killed off Liverpool.
Sevilla are the first team to win a major European title three years in a row since Bayern Munich won the European Cup three times between 1974 and 1976.
nigerianbulletin
Buhari dazed as UK exposes Amaechi’s loots, probes APC’s Campaign Funds
A leading Newspaper in the United Kingdom, UK, ‘The Mail Daily’ , has on Sunday, May 15, published a report revealing how the former Governor of Rivers State and current Transportation Minister, Rotimi Amaechi, looted Nigeria’s treasury.
The report added, that President Muhammadu Buhari’s ‘fantastically corrupt” friend, spent over $140 million on the president’s 2015 campaign and has been accused of stealing £500 million.
“But although, Buhari is seen by some as leading the battle against corruption, but worrying allegations swirl around one of his close allies,” the British Newspaper said.
“Rotimi Amaechi, who traveled with the president to the summit, is Nigeria’s transport minister and is said to have bankrolled Buhari’s presidential campaign.”
Recall, that Amaechi has been indicted by a judicial commission of inquiry in Rivers State for looting the treasury of the state, when he served as Governor for eight years.
However, Amaechi had denied the allegations of corruption and refused to appear before the judicial panel of inquiry to defend himself.
This revelation is coming, following a remark last week by UK Prime Minister, David Cameron, in which he described Nigeria as one of the most corrupt countries in the world, tagging the West African giant as “fantastically corrupt”.
Local media in Nigeria had tagged Amaechi the ATM of Buhari’s presidential campaign and his party the All Progressives Congress, APC.
Amaechi is praised by APC leaders for single-handedly funding the governorship campaigns of at least five APC governors, including that of former speaker, Governor Aminu Tambuwal of Sokoto State.
“Amaechi remains in his post despite being accused of misappropriating £338 million by a commission investigating the sale of state assets,” the UK Mail observed as it questioned Buhari’s sincerity in fighting corruption.
“Separately, Amaechi is accused of diverting £140 million of state funds into Buhari’s presidential campaign, with reports he paid for media, consultants and private jets.
“The allegations come as the president stands accused of enjoying a lavish lifestyle, while many millions suffer in poverty.
“A leaked draft budget for 2016 showed the Nigerian government earmarked £16 million for the refurbishment and maintenance of the president’s official residence, Aso Rock Guest House, in the capital Abuja.
“There was also a request for £13 million for building a VIP wing at a hospital used by families of the president and his ministerial team,” the paper noted.
http://www.weeklypostng.org/2016/05/buhari-weeps-as-uk-exposes-amaechis.html?utm_source=dlvr.it&utm_medium=facebook&m=1
The report added, that President Muhammadu Buhari’s ‘fantastically corrupt” friend, spent over $140 million on the president’s 2015 campaign and has been accused of stealing £500 million.
“But although, Buhari is seen by some as leading the battle against corruption, but worrying allegations swirl around one of his close allies,” the British Newspaper said.
“Rotimi Amaechi, who traveled with the president to the summit, is Nigeria’s transport minister and is said to have bankrolled Buhari’s presidential campaign.”
Recall, that Amaechi has been indicted by a judicial commission of inquiry in Rivers State for looting the treasury of the state, when he served as Governor for eight years.
However, Amaechi had denied the allegations of corruption and refused to appear before the judicial panel of inquiry to defend himself.
This revelation is coming, following a remark last week by UK Prime Minister, David Cameron, in which he described Nigeria as one of the most corrupt countries in the world, tagging the West African giant as “fantastically corrupt”.
Local media in Nigeria had tagged Amaechi the ATM of Buhari’s presidential campaign and his party the All Progressives Congress, APC.
Amaechi is praised by APC leaders for single-handedly funding the governorship campaigns of at least five APC governors, including that of former speaker, Governor Aminu Tambuwal of Sokoto State.
“Amaechi remains in his post despite being accused of misappropriating £338 million by a commission investigating the sale of state assets,” the UK Mail observed as it questioned Buhari’s sincerity in fighting corruption.
“Separately, Amaechi is accused of diverting £140 million of state funds into Buhari’s presidential campaign, with reports he paid for media, consultants and private jets.
“The allegations come as the president stands accused of enjoying a lavish lifestyle, while many millions suffer in poverty.
“A leaked draft budget for 2016 showed the Nigerian government earmarked £16 million for the refurbishment and maintenance of the president’s official residence, Aso Rock Guest House, in the capital Abuja.
“There was also a request for £13 million for building a VIP wing at a hospital used by families of the president and his ministerial team,” the paper noted.
http://www.weeklypostng.org/2016/05/buhari-weeps-as-uk-exposes-amaechis.html?utm_source=dlvr.it&utm_medium=facebook&m=1
Wednesday, 18 May 2016
Go to work Or No Work no pay As FG tells NLC
According to LIB, Despite threats by the Ayuba Wabba faction of NLC to continue with its planned strike action today May 18th, the Federal Government has advised all workers in the Civil service to resume for work today, saying the no work no pay rule will be invoked in all ministries, agencies and department. Speaking after a meeting with labor yesterday May 17th, Secretary to the Government of the Federation, Babachir Lawal said:
"The National Industrial Court has given an injunction that no strike by NLC and TUC should hold tomorrow (today). It is therefore clear that anyone embarking on strike tomorrow (today) is doing so illegally and government is assuring all Nigerians to come out and do their jobs tomorrow (today). It the duty of government to provide security for her citizens and anyone who tries to coerce any worker to do their bidding would be made to face the law of the land. We had full cooperation with the Trade Union Congress of Nigeria and they said they are not going on strike.For them, it is a complete return to work tomorrow (Wednesday).
"It is not the same with the NLC however. They have two factions, one agreed completely with the position of the TUC. Government, therefore, calls upon and advises all workers to respect the laws of the land and to desist from participating in an illegal action. Government undertakes to guarantee the safety of workers and their workplaces, and expects that normal work will continue in the interest of the nation.
"Accordingly, security agencies have been directed to ensure unimpeded access to offices, workplaces and markets. Accordingly, all ministers, permanent secretaries and heads of government agencies are hereby directed to invoke the provision of ‘no work no pay’ in respect of any staff member who absents himself or herself from work to join the strike. Attendance registers are required to be opened in all Ministries, Departments and Agencies.”he said
"The National Industrial Court has given an injunction that no strike by NLC and TUC should hold tomorrow (today). It is therefore clear that anyone embarking on strike tomorrow (today) is doing so illegally and government is assuring all Nigerians to come out and do their jobs tomorrow (today). It the duty of government to provide security for her citizens and anyone who tries to coerce any worker to do their bidding would be made to face the law of the land. We had full cooperation with the Trade Union Congress of Nigeria and they said they are not going on strike.For them, it is a complete return to work tomorrow (Wednesday).
"It is not the same with the NLC however. They have two factions, one agreed completely with the position of the TUC. Government, therefore, calls upon and advises all workers to respect the laws of the land and to desist from participating in an illegal action. Government undertakes to guarantee the safety of workers and their workplaces, and expects that normal work will continue in the interest of the nation.
"Accordingly, security agencies have been directed to ensure unimpeded access to offices, workplaces and markets. Accordingly, all ministers, permanent secretaries and heads of government agencies are hereby directed to invoke the provision of ‘no work no pay’ in respect of any staff member who absents himself or herself from work to join the strike. Attendance registers are required to be opened in all Ministries, Departments and Agencies.”he said
Buhari’s wife donates N55 million to parents of Chibok girls and some major headlines
As culled from KFbers, these are the major headlines on Tuesday 2016. we have got loads of interesting stories in tonight's #MajorHeadlinesYouMissedToday feature...enjoy!
Buhari’s wife donates N55 million to parents of Chibok girls
President Muhammadu Buhari’s wife, Aisha, on Tuesday in Abuja, presented a N55 million cheque to parents of Chibok school girls and Buni Yadi school boys, who were abducted and murdered respectively by Boko Haram.
Mrs. Buhari presented a cheque of N30 million to parents of the Chibok girls and N25 million cheque to parents of the Buni Yadi boys.
She said the presentation of the cheque was part of her promise that proceeds from the book she
launched on “Essentials of Beauty Therapy’’ would be used to empower parents of the Chibok girls and Buni Yadi boys.
Senate withdraws ‘anti-social media’ bill
The Nigerian Senate has withdrawn the frivolous petition bill sponsored by Bala Ibn Na’Allah believed to have been aimed at restricting freedom of expression.
The withdrawal of the bill followed the report of the upper chamber’s Committee on Human Rights and Legal Matters submitted by David Umar on Tuesday.
The report made it cleat the bill amounted to violation of citizens’ rights, and contradicted extant laws, imposing duty of investigation on petitioners and serving as stumbling block to the fight against corruption.
The introduction of the bill sparked widespread outrage across the country.
FG warns civil servants against strike
Babachir David Lawal, Secretary to the Government of the Federation
The Federal Government has warned civil servants in the country not to participate in Wednesday’s nationwide indefinite strike called by the Nigeria Labour Congress and the Trade Union Congress.
A statement signed by the Secretary to the Government of the Federation, Babachir David Lawal warned civil servants against participating in the strike, adding that any worker who participated in the strike would not be entitled to his or her wage.
The statement read:
”The attention of all Public Officers is drawn to the notice issued by the Nigeria Labour Congress (NLC) to embark on an indefinite strike from Wednesday, 18th May, 2016. This notice is regrettably given in spite of an Order by the Industrial Court against the strike action.
”Government, therefore, calls upon and advises all workers to respect the laws of the land and to desist from participating in an illegal strike action.
”Government undertakes to guarantee the safety of workers and their work places, and expects that normal work will continue in the interest of the nation.
”Accordingly, Security agencies have been directed to ensure unimpeded access to offices, work places and markets.
”Acts of intimidation, harassment, including barricading of gates, locking up of offices, blocking of roads and preventing workers from carrying out their lawful duties will be met with appropriate response by the law enforcement agencies.
”All workers, whether in public or private sector are further reminded of the Trade Dispute Act, 2004, which provides that “where any worker takes part in a strike, he shall not be entitled to any wages or remuneration for the period of the strike and any such period shall not count for the purpose of reckoning the period of continuous employment and all rights dependent on continuity of employment shall be prejudicially affected accordingly.”
”Accordingly, all Ministers, Permanent Secretaries and Heads of Government Agencies are hereby directed to invoke the provision of “no work no pay” in respect of any staff who absents him or herself from work to join the strike action.
”Attendance registers are required to be opened in all Ministries, Departments and Agencies.
Lagos now officially an oil producing state – Ambode
http://www.kemifilani.com/2016/05/buharis-wife-donates-n55-million-to.html?m=1
Buhari’s wife donates N55 million to parents of Chibok girls
President Muhammadu Buhari’s wife, Aisha, on Tuesday in Abuja, presented a N55 million cheque to parents of Chibok school girls and Buni Yadi school boys, who were abducted and murdered respectively by Boko Haram.
Mrs. Buhari presented a cheque of N30 million to parents of the Chibok girls and N25 million cheque to parents of the Buni Yadi boys.
She said the presentation of the cheque was part of her promise that proceeds from the book she
launched on “Essentials of Beauty Therapy’’ would be used to empower parents of the Chibok girls and Buni Yadi boys.
Senate withdraws ‘anti-social media’ bill
The Nigerian Senate has withdrawn the frivolous petition bill sponsored by Bala Ibn Na’Allah believed to have been aimed at restricting freedom of expression.
The withdrawal of the bill followed the report of the upper chamber’s Committee on Human Rights and Legal Matters submitted by David Umar on Tuesday.
The report made it cleat the bill amounted to violation of citizens’ rights, and contradicted extant laws, imposing duty of investigation on petitioners and serving as stumbling block to the fight against corruption.
The introduction of the bill sparked widespread outrage across the country.
FG warns civil servants against strike
Babachir David Lawal, Secretary to the Government of the Federation
The Federal Government has warned civil servants in the country not to participate in Wednesday’s nationwide indefinite strike called by the Nigeria Labour Congress and the Trade Union Congress.
A statement signed by the Secretary to the Government of the Federation, Babachir David Lawal warned civil servants against participating in the strike, adding that any worker who participated in the strike would not be entitled to his or her wage.
The statement read:
”The attention of all Public Officers is drawn to the notice issued by the Nigeria Labour Congress (NLC) to embark on an indefinite strike from Wednesday, 18th May, 2016. This notice is regrettably given in spite of an Order by the Industrial Court against the strike action.
”Government, therefore, calls upon and advises all workers to respect the laws of the land and to desist from participating in an illegal strike action.
”Government undertakes to guarantee the safety of workers and their work places, and expects that normal work will continue in the interest of the nation.
”Accordingly, Security agencies have been directed to ensure unimpeded access to offices, work places and markets.
”Acts of intimidation, harassment, including barricading of gates, locking up of offices, blocking of roads and preventing workers from carrying out their lawful duties will be met with appropriate response by the law enforcement agencies.
”All workers, whether in public or private sector are further reminded of the Trade Dispute Act, 2004, which provides that “where any worker takes part in a strike, he shall not be entitled to any wages or remuneration for the period of the strike and any such period shall not count for the purpose of reckoning the period of continuous employment and all rights dependent on continuity of employment shall be prejudicially affected accordingly.”
”Accordingly, all Ministers, Permanent Secretaries and Heads of Government Agencies are hereby directed to invoke the provision of “no work no pay” in respect of any staff who absents him or herself from work to join the strike action.
”Attendance registers are required to be opened in all Ministries, Departments and Agencies.
Lagos now officially an oil producing state – Ambode
http://www.kemifilani.com/2016/05/buharis-wife-donates-n55-million-to.html?m=1
Nigeria Labour Unions Embark on Indefinite Strike Over Fuel Price Hike
Despite the order from industrial court restraining NLC from embarking on strike. The Nigeria Labour Congress, NLC, and Trade Union Congress, TUC, have resolved to embark on an indefinite strike to protest the recent hike in pump price of petrol.
According to Vanguard, this was the resolution the groups made at a meeting held at NLC headquarters in Abuja.
The strike will start by 12 mid-night on Wednesday, someone at the meeting reportedly said.
“Our decision not to suspend the strike was further fuelled by today’s injunction by the Industrial Court,restraining us from proceeding on the strike expected to begin tomorrow,”the person said.
He also disclosed that the two bodies were still studying development and may not honour the meeting expected with the government at the office of the Secretary to the Government of the Federation this evening.
Vanguard
According to Vanguard, this was the resolution the groups made at a meeting held at NLC headquarters in Abuja.
The strike will start by 12 mid-night on Wednesday, someone at the meeting reportedly said.
“Our decision not to suspend the strike was further fuelled by today’s injunction by the Industrial Court,restraining us from proceeding on the strike expected to begin tomorrow,”the person said.
He also disclosed that the two bodies were still studying development and may not honour the meeting expected with the government at the office of the Secretary to the Government of the Federation this evening.
Vanguard
Buhari Invites Jonathan to Aso Rock
As reported, President Muhammadu Buhari has invited former President Goodluck Jonathan to visit Aso rock this week.
DAILY TRUST reports that Buhari may ask Jonathan for help in stopping the attack on oil installments by the new militant group, Niger Delta Avengers.
DAILY TRUST reports that Buhari may ask Jonathan for help in stopping the attack on oil installments by the new militant group, Niger Delta Avengers.
Tuesday, 17 May 2016
Toyin Aimakhu's ex, Seun Egbegbe Warned By Nigeria Police
Violence against women is not acceptable for whatever reason. According to LIB, Like I said, the police take these violations against women seriously. All you need to do is report..:-). Read the press statement below...
Nollywood filmmaker, Seun Egbegbe was arrested two weeks ago, detained and later released on bail in respect of his threat message against Toyin Aimakhu. He was told to report when Toyin Aimakhu arrives Nigeria and was summoned by the police in Lagos yesterday.
Toyin who was also at the station in company of her lawyer, Bosun Osifowora stated that Seun Egbegbe's threat has affected her business and colleagues and producers are afraid to call her for movie shoots because of the threat since they were aware of his violent nature.
While at the Commissioner of Police’ office, Seun recounted his position, prostrated and signed an undertaking never to hurt or disturb Toyin whether privately or in company of people. He also undertook to make a new video to that effect with Goldmyne TV where the initial threat video which went viral was broadcast.
He is also to report fortnightly at the CP's office in Ikeja and he has been placed under watch. Toyin Aimakhu who is back in the country is set to officially start a new reality show and an NGO on domestic violence against women
Nollywood filmmaker, Seun Egbegbe was arrested two weeks ago, detained and later released on bail in respect of his threat message against Toyin Aimakhu. He was told to report when Toyin Aimakhu arrives Nigeria and was summoned by the police in Lagos yesterday.
Toyin who was also at the station in company of her lawyer, Bosun Osifowora stated that Seun Egbegbe's threat has affected her business and colleagues and producers are afraid to call her for movie shoots because of the threat since they were aware of his violent nature.
While at the Commissioner of Police’ office, Seun recounted his position, prostrated and signed an undertaking never to hurt or disturb Toyin whether privately or in company of people. He also undertook to make a new video to that effect with Goldmyne TV where the initial threat video which went viral was broadcast.
He is also to report fortnightly at the CP's office in Ikeja and he has been placed under watch. Toyin Aimakhu who is back in the country is set to officially start a new reality show and an NGO on domestic violence against women
Davido's Baby Mama Was Not Bounced From Imade's Birthday
According to KFB, Imade Adeleke, the daughter of singer, Davido was a year old last weekend and while several celebrities were in attendance, the mother of the celebrant, Sophia Momodu was reportedly absent.
According to the folks at an entertainment blog, Sophia was ‘bounced’ from gaining access into the birthday party.
While many were attempting to come to terms with the far-fetched report, Instagram news aggregator – Instablog reposted the news on the photo-sharing platform.
This caught the attention of both Davido and Sophia, and from their comments on Instablog’s page, we learned two things.
1. Sophia Momodu has made peace with the family of Davido and has ‘moved on’
She wrote on Instagram: “So many beautiful things happened last weekend u didn’t post any of it. Then u come & post false news.. It better be for the likes. @instablog9ja if I can move on from the drama surely you can too.”
2. Sophia Momodu was not ‘bounced’ from her daughter’s birthday
Davido wrote: :She is in full custody of our daughter Biko ! And no one was bounced … Bless”.
let’s now move on.
According to the folks at an entertainment blog, Sophia was ‘bounced’ from gaining access into the birthday party.
While many were attempting to come to terms with the far-fetched report, Instagram news aggregator – Instablog reposted the news on the photo-sharing platform.
This caught the attention of both Davido and Sophia, and from their comments on Instablog’s page, we learned two things.
1. Sophia Momodu has made peace with the family of Davido and has ‘moved on’
She wrote on Instagram: “So many beautiful things happened last weekend u didn’t post any of it. Then u come & post false news.. It better be for the likes. @instablog9ja if I can move on from the drama surely you can too.”
2. Sophia Momodu was not ‘bounced’ from her daughter’s birthday
Davido wrote: :She is in full custody of our daughter Biko ! And no one was bounced … Bless”.
let’s now move on.
FG threatens to shut Abuja airport over safety concerns
The Federal Government yesterday dropped hints of closing down Abuja airport as a precautionary measure because of the bad state of the runway. The Minister of State, Aviation, Senator Hadi Sirika, who dropped the hint at the 2016 Aviation Stakeholders Summit in Abuja, also said the government would concession the Abuja, Lagos, Port Harcourt and Kano international airports in the first phase of its concession programme. He said that government was committed to upgrading the existing facilities at the airports as well as developing new strategy for repositioning the sector. Sirika said: “The thinking is that just like every other place in the world, we will concession our airports and we are beginning with the big four, Lagos, Abuja, Port Harcourt and Kano. “It would have been ideal to take them to some level of acceptance for them to attract more. But I think we just get those guys who believe that in Nigeria they can create a hub geographically given by God. “To come and put in their money and create this hub, build these airports, concession them, run them and make money out of them.” He said that the current facilities at the airports did not meet international standards and best practices in the aviation industry, adding that private sector involvement was the way forward. According to him, if the government is able to concession the four airports successfully in the first phase, it will pay attention to providing infrastructure and developing domestic airports for optimal performance.
Read more at: http://www.vanguardngr.com/2016/05/fg-threatens-shut-abuja-airport-safety-concerns/
Read more at: http://www.vanguardngr.com/2016/05/fg-threatens-shut-abuja-airport-safety-concerns/
Monday, 16 May 2016
Dollar shortage stalls fuel imports
Another fuel crisis looks set to rock the country as some vessels are stuck off Nigeria, unable to unload their cargoes of petrol and diesel.
At least 75 ships with two and a half million tonnes of fuel are waiting for importers in the country to find the dollars they need to pay for the cargoes, according to ship tracking data and fuel traders.
Some of the vessels arrived a month ago and their frustrated owners have almost given up hope and started to offer their fuel to buyers outside Nigeria, several traders told Reuters.
Our correspondents on Sunday gathered that a number of marketers who were given petrol import allocations for the second quarter of the year had not been able to source foreign exchange for importation.
An official of one of the major petroleum products marketers’ associations said on condition of anonymity, “I am not surprised that vessels are stuck. What I believe likely happened is that so many of our members were given allocations for the second quarter – some for April, some for May and some for June.
“But because they have not been able to source foreign exchange, the people will not deliver until they are sure of getting their money. A number of those that were given second quarter allocations have not been able to source forex.”
The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, said he did not know if some vessels were stranded due to lack of dollars or not.
He, however, said, “In any situation, there will be challenges and some people will not face any challenge. Some are importing; some are not. But the most important thing is, ‘Is the product available?’ I think so. It means those importing probably are more than those not importing.
“Foreign exchange is a challenge; there is no doubt about that. But people will import. It is their business, and they won’t want their business to collapse.”
A slump in world oil prices has hammered Nigeria’s state income and because crude sales are the government’s main source of revenue, the fall has caused crippling shortages of dollars within the economy that have been hurting businesses for months.
In a bid to break the impasse and head off more fuel shortages, the Federal Government raised the price cap for petrol by 67 per cent, officially sanctioned importers to use the parallel market to find the hard currency they need to get cargoes off the ships and allowed any Nigerian company to import fuel.
The Executive Secretary, Depot and Petroleum Products Marketers Association, Mr. Olufemi Adewole, had on Friday said, “The crux of everything we are saying borders on foreign exchange. Sourcing for foreign exchange is the key challenge. Marketers have been told to source for foreign exchange.”
Nigeria consumes 45 million litres of petrol a day, or roughly 280,000 barrels, which would require the market to provide some $18m a day.
The naira has already weakened due to the spike in demand for dollars from fuel importers. Last week, the US currency fell to 360 naira on the parallel market, whereas the official exchange rate has been held firm just under 200.
“The risk is that the parallel rate will depreciate even more, giving the marketers a pretext for yet further price increases at the pump,” said Alan Cameron, an economist covering Africa with Exotix Partners.
In an effort to address the looming fuel shortages, the Nigerian National Petroleum Corporation has begun talks with at least three international firms to swap more of its crude for petrol, according to traders and oil executives.
According to the marketers, some of whom got their petrol import permits from the Petroleum Products Pricing Regulatory Agency last week, the secondary or parallel forex market in Nigeria does not have enough United States dollars to meet their needs.
A senior official of one of the oil majors that got import permits last week stated that the pressure exerted on the parallel market by the PMS importers was the major cause of the continued crash of the naira against the dollar in the past few days.
“How much dollar can all importers access from the parallel market in Nigeria? As I speak with you now, some of us are making contacts with our partners in countries like Ghana and Liberia for forex,” the official, who spoke on condition of anonymity, said.
Punch
At least 75 ships with two and a half million tonnes of fuel are waiting for importers in the country to find the dollars they need to pay for the cargoes, according to ship tracking data and fuel traders.
Some of the vessels arrived a month ago and their frustrated owners have almost given up hope and started to offer their fuel to buyers outside Nigeria, several traders told Reuters.
Our correspondents on Sunday gathered that a number of marketers who were given petrol import allocations for the second quarter of the year had not been able to source foreign exchange for importation.
An official of one of the major petroleum products marketers’ associations said on condition of anonymity, “I am not surprised that vessels are stuck. What I believe likely happened is that so many of our members were given allocations for the second quarter – some for April, some for May and some for June.
“But because they have not been able to source foreign exchange, the people will not deliver until they are sure of getting their money. A number of those that were given second quarter allocations have not been able to source forex.”
The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, said he did not know if some vessels were stranded due to lack of dollars or not.
He, however, said, “In any situation, there will be challenges and some people will not face any challenge. Some are importing; some are not. But the most important thing is, ‘Is the product available?’ I think so. It means those importing probably are more than those not importing.
“Foreign exchange is a challenge; there is no doubt about that. But people will import. It is their business, and they won’t want their business to collapse.”
A slump in world oil prices has hammered Nigeria’s state income and because crude sales are the government’s main source of revenue, the fall has caused crippling shortages of dollars within the economy that have been hurting businesses for months.
In a bid to break the impasse and head off more fuel shortages, the Federal Government raised the price cap for petrol by 67 per cent, officially sanctioned importers to use the parallel market to find the hard currency they need to get cargoes off the ships and allowed any Nigerian company to import fuel.
The Executive Secretary, Depot and Petroleum Products Marketers Association, Mr. Olufemi Adewole, had on Friday said, “The crux of everything we are saying borders on foreign exchange. Sourcing for foreign exchange is the key challenge. Marketers have been told to source for foreign exchange.”
Nigeria consumes 45 million litres of petrol a day, or roughly 280,000 barrels, which would require the market to provide some $18m a day.
The naira has already weakened due to the spike in demand for dollars from fuel importers. Last week, the US currency fell to 360 naira on the parallel market, whereas the official exchange rate has been held firm just under 200.
“The risk is that the parallel rate will depreciate even more, giving the marketers a pretext for yet further price increases at the pump,” said Alan Cameron, an economist covering Africa with Exotix Partners.
In an effort to address the looming fuel shortages, the Nigerian National Petroleum Corporation has begun talks with at least three international firms to swap more of its crude for petrol, according to traders and oil executives.
According to the marketers, some of whom got their petrol import permits from the Petroleum Products Pricing Regulatory Agency last week, the secondary or parallel forex market in Nigeria does not have enough United States dollars to meet their needs.
A senior official of one of the oil majors that got import permits last week stated that the pressure exerted on the parallel market by the PMS importers was the major cause of the continued crash of the naira against the dollar in the past few days.
“How much dollar can all importers access from the parallel market in Nigeria? As I speak with you now, some of us are making contacts with our partners in countries like Ghana and Liberia for forex,” the official, who spoke on condition of anonymity, said.
Punch
Sunday, 15 May 2016
Femi Gbajabiamila Speaks On Fuel Subsidy
Over the years, I have been vociferous and faithful in my near fanatic opposition to the deregulation of the downstream oil sector if what it meant was the removal of fuel subsidy. If deregulation could be achieved without subsidy removal I was on board. I argued passionately against its removal at a time when most economic experts, talking heads and commentators were for it and when it was fashionable to support it. I have attached a copy of a rather caustic and scathing article and letter I wrote in 2010 to then Acting President Jonathan. I was at that time in the opposition and the then Leader of the Action Congress in Parliament. I will restate my position at the time.
I felt there was something wrong with the notion that a country blessed with a natural resource should lack that resource or any of its by products. I believed that the citizens should have a marked advantage in the utility and consumption of that product over citizens of other countries not so blessed and to that extent the pricing of that product found in the country's backyard should be different from international pricing. I gave examples such as the cost of tea in China, coffee in Brazil or coal in Sunderland. I felt as I still do, that there was something intrinsically whopped to have a natural resource in one’s backyard and at same time import same for consumption. Didn’t make sense to me. I argued then and still argue that if subsidy was to be removed we must put the cart before the horse and get our refineries working so as not to import our own God given resource. Then perhaps after that we could entertain a debate on subsidy removal. Even then many of us would still have argued for subsidizing even the production as opposed to its importation
During the 2012 subsidy debate, I argued vociferously and with a strong conviction, that the idea of palliatives was irrelevant as the palliative measures proposCont... palliative measures proposed by the government then such as infant mortality, child care, transportation etc were things that belonged to citizens as of right and which government under Chapter 2 of the constitution were obligated to provide and therefore government was in no way doing Nigerians a favour as you cannot give me something that’s already mine or at least should be and call it a palliative.
I further argued that subsidy connoted something negative only in Nigeria and not in other countries that subsidized one thing or the other for the benefit of citizens. There is and has been for years subsidy for transportation in the UK, Agricultural Subsidy in the US and oil is subsidized in practically all major oil producing countries and we don’t hear as much as a whimper. Why then Nigeria. ? Proponents argued because it is riddled with fraud and corruption and benefits only 1 percent of the populace. I bellowed back , well then why don’t you block the loopholes for the perpetration of the fraud and corruption ? Why must the innocent 99% and poor masses suffer or be penalized for the inefficiency of government and the corruption of a few. Is it possible to argue that a government with all the might and power at its disposal cannot deal with this 1%. ? I couldn’t get a reasoned answer.
For me every spirited attempt to justify a removal of subsidy failed the common sense test or question of why Nigeria the 5th or 6th largest producer of crude (and the finest one at that) would be importing what it produced. There was definitely something nonsensical about such a proposition.
This was the position I held on to steadfastly over the years. It is now 2016 and if my position has changed to an extent, I owe It to my primary and larger constituents and indeed all Nigerians explanation for the change.
I was at the Presidential Villa Wednesday 11th where a stakeholders meeting involving the leadership of the National Assembly, Governors, Labour LeadershipCont... I was at the Presidential Villa Wednesday 11th where a stakeholders meeting involving the leadership of the National Assembly, Governors, Labour Leadership, State Minister of Petroleum, Ministers of Information and that of labour. The meeting was chaired by the Vice President. It was a consultative meeting ostensibly to get the buy in of stakeholders. I was pumped and ready to challenge any proposition for an increase in pump price and my position was known to most people I spoke with. However by the time the Hon Minister for petroleum finished his doomsday prognosis and gave a graphic account supported with facts and figures of where we where and where we would be in a matter of months if we did not alter the approach or fundamentally change the status quo, I had no option but to capitulate. It was the first time I had been confronted with such a gloomy picture. I found myself between a rock and a hard place. The facts were incontrovertible and the prognosis and consequences dire. We were in an economic cul-de-sac and the country was spiraling down fast due to no fault of this present administration. In fact it was clear that any responsible administration needed to apply the brakes, bring this to a screeching and painful halt and at least for now remove subsidy and deregulate. It was a short term remedy which all things being equal would produce a long term solution when the economy would have recalibrated. I struggled with my inner angel and knew this was the only way out. It was made abundantly clear to all seated that in 2 months there would be no federal allocation to states and no state would be able to pay salaries, including buoyant ones. The Nigerian nation was on tenterhooks. That’s how bad a picture it was. Indeed I was the first to ask questions after the presentation still looking for a way out when I knew there was none.
Whilst I still believe in the principles I held on to so passionately years ago, including the need to bring any Cont... Whilst I still believe in the principles I held on to so passionately years ago, including the need to bring any deregulation exercise in conformity with the law and the constitution, I believe this is such a time when we should look at the times we are in and our practical situation as a country. I believe (without sounding Trumpist) that Nigeria will be great again but we must rejig and reboot our economy and take another look at the subsidy regime. Many will say but why did some of us kick in 2012 and if it was not good then why is it good now. It’s a great question and they are right some but again the times are different. In 2012 we were earning a lot of money from oil. Oil was selling at about 100 dollars or thereabout. We had foreign exchange and petro dollars to continue with subsidy. Now things are different. The economy is comatose and Nigeria is on life support. Oil is selling at below 40 dollars and the currency (dollar) needed to purchase the refined petrol is no longer available.
I want to plead with my constituents and all Nigerians to work with government. You are the most important stakeholders never mind those of us that gathered around a long table and cushy chairs in the Vice Presidents Office on Wednesday 11th to make this far reaching decision. We did so only in a representative capacity. I urge that you please give this government the benefit of doubt and lets take a chance on whether or not the analogy and parallel often drawn by proponents of deregulation in the oil industry to telecommunications industry may end up a truism and that the price of fuel in a lasses faire, free market will come crashing in months. Lets consider it a temporary sacrifice for the greater good with the hope that as promised we will be better off in the long term. This problem is not peculiar to Nigeria. It is instructive that other oil producing countries eg Bahrain, have been hit hard by the crash in oil price and are towing same line and reviewing deg Bahrain, have been hit hard by the crash in oil price and are towing same line and reviewing their subsidy policies.
With this new development I intend to fight with all I have for a review of the minimum wage of all workers in Nigeria . Our country was built on social justice and I cannot, no matter the realities, accept a situation where the cost of living will be increased without a corresponding increase in wages. The sacrifices that we need to make must be comprehensive. Indeed I believe the “wealthy” must not only pay their fair share of taxes, if need be there must be an upward review of taxes paid by the highest income earners to enable government review the wages of those on the lower rung. It is time to be our brothers’ keepers.
I know this is a painful road to take and I hate that I have to flip flop on this one, but isn’t what they say “no pain no gain”.
Femi Gbajabiamila
Leader of Nigeria's House of Representatives, Abu[truncated by WhatsApp]
Nothing can stop PDP Convention – Fayose
The Governor of Ekiti State, Ayodele Fayose has stated that despite some of the problems the party seems to be facing at the moment, its national convention has been slated for May 21, 2016 in Port Harcourt, Rivers State . Governor Fayose who was responding to the purported dissolution of the National Working Committee of the party by a group of concerned party members led by Professor Jerry Gana, insisted that those against the leadership of Senator Ali Modu Sheriff have lost relevance in the party as they no longer have fresh ideas to bring forward.
Read more at: http://www.vanguardngr.com/2016/05/nothing-can-stop-pdp-convention-fayose/
Read more at: http://www.vanguardngr.com/2016/05/nothing-can-stop-pdp-convention-fayose/
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