The Presidency has said that Nigerians will be choosing between President Muhammadu Buhari and a coalition of past corrupt leaders, coordinated by ex-President Olusegun Obasanjo.
Personal Assistant to President Buhari on Social Media, Mrs. Lauretta Onochie, on her Twitter page, called on Nigerians to join the Presidency in demanding for explanation of the $16 billion allocated to power projects during Obasanjo’s administration.
“It’s now a clear choice between Pres. Buhari & a coalition of past corrupt leaders coordinated by ex-Pres Obasanjo.
“He failed to answer a simple question posed by our President who inherited a nation in darkness. Buhari is fixing Nigeria with improved power supply and Obasanjo is angry.
“Join the Big Question’, after Spending $16 billion, Not Naira, Obasanjo #WhereIsThePower.
“Join the President and other Nigerians to ask the same question.” she wrote.
President Buhari had recently wondered what Obasanjo achieved after spending $16 billion on power, whereas Obasanjo reacted by saying that he was ready to be probed.
Some people have made it a pastime to talk as if there is no silver lining in the sky as far as the Nigerian economy is concerned. They carry on as if it is doom and gloom all the way, a thoroughfare of woes. This they do, to hoodwink the public, and peradventure gain political advantage for themselves, or their principals.
But facts are stubborn things. Those arrayed against facts may abhor and deride them, but there they are, staring them starkly in the face. Here are some current facts about the Nigerian economy, which naysayers may not be able to do anything about:
According to the National Bureau of Statistics (NBS), the economy has recovered from the slow-down and eventual recession, which started in 2014. There has been improvement with stronger growth for three successive quarters. From contracting by 0.91% in Q1 2017, the economy has grown by 0.72% in Q2 2017, to 1.17% in Q3 2017, and 2.11% in Q4 2017.
The Q1 2018 GDP shows that the economy has recorded a GDP growth of 1.95%, compared to a contraction of 0.91% in Q1 2017.
The growth is driven by Agriculture and Industry, which shows that finally, after more than 50 years of lip service, the Nigerian economy is on the road to diversification. The oil sector’s contribution to GDP is 9.61%, while non-oil sector’s share is 90.39%.
One of the factors responsible for the positive performance of the economy in Q1 2018 was the spending of about N1.5 trillion on infrastructure projects in 2017.
For the past 15 months, inflation has declined consistently from 18.72% to 12.48%. The country is steadily on the road to single digit inflation rate.
The first quarter of 2018 saw a continuous growth in total capital importation into the country, the fourth consecutive quarterly increase since Q2 2017. The total value of capital imported is $6,303.63 million, a 17.11% growth over the figure reported in the previous quarter.
Foreign reserves stand at $47.79 billion, compared to $29.6 billion inherited in May 2015, after about six years boom in oil prices in the international market. The increase came at a time of modest oil prices, showing transparency and accountability by government.
Nigeria’s Stock Market ended 2017 as one of the best-performing in the world, with returns of about 40 percent.
Tax revenue increased to N1.17 trillion, in Q1 2018, a 51% increase on the Q1 2017 figure.
Milled rice production has increased from 2.5MT to 4MT, and rice imports have dropped from 580,000MT in 2015 to 58,000MT in 2016. Millions of dollars have been saved.
These are just little among the good things happening to the Nigerian economy. Only the wilfully blind will not see it, but it does not stop the good work, which continues.
On exiting recession last year, President Muhammadu Buhari had said he would not consider the job done, until the ordinary man feels the impact of the rebounding economy on his life and pocket. We are inexorably on that road, no matter what scoffers may say.
Former Deputy Governor of the Central Bank of Nigeria (CBN), Professor Kingsley Chiedu Moghalu has declared to run for Presidency in the 2019 election under the umbrella of the Young Progressive Party (YPP).
The former CBN, who was also ex United Nations official, made the declaration at an event at the NICON Luxury Hotel, Abuja today, Thursday, 24.
The presidential candidate said that despite invitations from various political parties to contest the 2019 election, his vision for a radically new political leadership for Nigeria – one with a vision and the capacity to build a new and different future for the country – led him to separate himself from the old order of failed and recycled politicians that have run Nigeria aground with poverty, insecurity and corruption as its national legacy.
He threw up some questions as to “Would the party I join share my vision of leadership as one of service and accountability? Would it be focused on the youth and our future while inclusive in its membership? Would it be nationwide in its spread and appeal as opposed to an ethnic or sectional focus? And would the party, from the standpoint of electoral strategy, be a viable platform with a structure to prosecute the struggle for a New Nigeria that is focused on the future and not the past?”
Professor Moghalu explained that due to these reflections, the Young Progressive Party became the right choice for him, a decision which he said was further re-emphasized through detailed consultation, a wide-ranging accumulation of data and information across the country and across a series of hard-nosed operatives, thinkers and doers.
“The Young Progressive Party is a great dare, a tantalizing promise, a notice of evacuation to Nigeria’s recycled political class. So I am here today to announce that in response to the parties of the past, in response to umbrellas that block out the light of hope, and brooms that sweep away truth and replace them with lies, in response to the parties of tired old tricks and tired old systems and tired old men, I and millions across Nigeria will choose the Young Progressive Party – YPP – the party of today and tomorrow.”
The Joint Admission and Matriculation Board (JAMB) has taken over the Computer Based Test (CBT) of the Nigeria Police Force.
The Force, therefore, asked all successful candidates in the last Physical/Credentials screening stage in the on-going recruitment exercise into the Force to attend the CBT to be held on Friday, May 25 in all designated Centres across the Country. A statement by the Force Public Relations Officer, CP Jimoh Moshood said that candidates who were successful in the physical and credentials screening stage have been notified through text messages.
“However, those who did not receive the message can check for their exam centres through the under-listed websites. i. www.policerecruitment.ng ii. www.jamb.gov.ng iii. www.psc.gov.ng According to Jimoh, the candidates’ exam centres are also displayed at every State Command Headquarters in the 36 States of the Federation and the FCT. He said that the Inspector General of Police (IGP) has directed the Deputy Inspector General of Police, Training and Development to monitor the conduct of the examination in some selected centres while the Commissioners of Police in State Commands will monitor the conduct of the examination in centres in their Commands. “Candidates are hereby advised to be of good conduct and not to engage in any examination malpractice, as anyone caught will be arrested, investigated and prosecuted. Candidates and members of the general public who observe any form of improper practice should please call the following phone numbers: 08076036011, 08037036257, 08034360919, 08037855951, 08065823054, 08036753589.
The Central Bank of Nigeria (CBN), has risen to safeguard the interest of customers seeking to purchase foreign exchange for personal obligations and checkmate any attempt at causing panic in the market.
It has, as result, released the sum of $100 million into the Nigerian Forex market, aimed at accommodating the spike in the seasonal demand for foreign exchange to meet various personal obligations, particularly pilgrimage.
The release, which was made today, Thursday, came barely 24 hours after the Bank injected $210 million into the wholesale segment of the market.
Information reaching us said that the apex bank is planning to inject more United States Dollars into the foreign exchange market in the coming days, to checkmate any attempt to trigger artificial scarcity of the greenback.
The Bank’s Acting Director in the Corporate Communications Department, Isaac Okorafor confirmed that the various moves were meant to protect customers from the activities of speculators who might want to capitalize on the increase in demand for foreign exchange at this time to make brisk gains.
He said that the CBN had sufficient foreign exchange to meet genuine needs, even as he cautioned dealers against speculation.
He stressed that the speculators could lose much if they chose to hoard currencies in anticipation of a spike and depreciation in the value of the naira.
It will be recalled that the CBN on Wednesday, expressed displeasure at the action of some banks that reportedly refused to sell forex to customers requiring the currency for the purpose of pilgrimage or Personal and Business Travel Allowance.
A female cleaner at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos State, Charity Bassey, has found the sum of $6,000 and promptly taken it to security officials at the terminal.
The cleaner who is an employee of Lakewood Development Company, was on duty at the departure wing of the airport when she picked up the item from the floor.
She recalled that she was standing in front of the toilet when a passenger drew her attention to something inside the toilet.
“I went in and saw the small black nylon on the floor. It looked dirty and rough, you won’t know it is money that was inside it”, Guardian quoted her as saying.
“I picked it, felt some notes inside and took it to the customer care. I was given a glove to bring out the contents and I counted 60 pieces of $100 dollar bills.
“I do my best to do a good job with clear conscience. This is not the first time I am picking up forgotten items like wallets, phones, small bags and even money. I have always returned them to the frontline desk or customer care desk”.
In his reaction, Managing Director of the company, Sam Nchezor said: “others would have picked the money and walked away, she can’t be traced to it.
“What could only happen is to indict everybody working there, but we thank her for her honesty, for picking up the money and handing it over to the management of ASL.
“We are going to compensate her, give her some money and also increase her salary. It is left for the management of ASL and Federal Airport Authority of Nigeria (FAAN) to reward her. We are proud of her.” [myad]
The Federal Government, states and local governments have shared N701 billion as revenue for the month of April. Details showed that N276.53 billion was allocated to Federal Government, N140.2 billion to states and N108.1 billion was allocated to local governments.
According to the Permanent Secretary in the Ministry of Finance, Mahmoud Isa-Dutse the amounts shared were the outcome of Federal Account Allocation Committee (FAAC) meeting held today, Wednesday.
The Permanent Secretary, who briefed newsmen today, Wednesday, said that mineral revenue increased by N50.7 billion from N360.51 billion in March to N411.2 billion in April. He added that non-mineral revenue also increased by N81.25 billion, from N120 billion in March to N201.3 billion in April.
According to him, Value Added Tax (VAT) collected increased from N80.35 billion in March to N83.4 billion in April.
“Gross statutory revenue of N613 billion received for the month was higher than the N480.59 billion received in previous month by N132.45 billion.
“Crude oil sales volume increased by 64 per cent, compared with 7.72 million barrels from the previous month, resulting in increased revenue from the Federation Crude Oil Export Sales by 226.90 million dollars.
“Also, average crude oil price increased from 65.7 dollars to 66.78 dollars per barrel.
“Performance for the month in review would have been better but for a few production shut-ins and shut-downs at various terminals for repairs and maintenance.”
Isa-Dutse said that the federal, states and local government decided to save some of the month’s revenue for rainy day in view of the significant increase in revenues.
The permanent secretary said that N24.5 billion would be converted and added into the dollars denominated Excess Crude Account, adding: “based on increased revenue for the month and after due consultation, it has been decided that we will take out N24.5 billion and credit it into the Excess Crude Account.
“This brings the Excess Crude Oil Account balance to 1.11 billion dollars and the Excess Petroleum Profit Tax Account is 0.133 billion dollars.”
On the issue of reconciliation of accounts with Nigerian National Petroleum Corporation (NNPC), Isa-Dutse said it was ongoing.
He explained that reconciliation of monies collected by revenue generating agencies was also ongoing.
Nigeria is currently operating on a revenue allocation formula of; Federal Government — 52.68 per cent, State Governments — 26.72 per cent and Local Governments — 20.60 per cent.
Also, 13 per cent of the oil and gas federally collected revenue is given to oil producing states and communities as derivation revenue to compensate for ecological risks of oil production.
This formula was designed during the President Olusegun Obasanjo Administration.
However in 2015, the RMAFC saw the need to review the formula for balanced development of the country, hence it embarked on nationwide sensitisation tour to the 36 states of the federation to campaign for review.
The Civil Rights Groups (CRG) in Nigeria have asked the federal government to kick out Amnesty International from Nigeria over what they called ‘its plan to destabilize the country.’
The Civil Rights Groups which led over 1,000 people to protest against the body at its Abuja office today, Wednesday, alleged that Amnesty International is about to release a report with which it plans to totally destabilize Nigeria.
The leader of the Rights Group, Comrade Danesi Momoh, said: “the false report will among other things, claim that government troops and Civilian JTF routinely detain, rape, starve and kill women as well as minors. It claims that “Instead of receiving protection from the authorities, women and girls have been forced to succumb to rape in order to avoid starvation or hunger.”
“Several patriotic groups had only recently raised alarm that UNICEF is coordinating other international NGOs for evidence shopping as part of a major shift to start accusing the Federal Government and the military of sexual violence. This plot was being executed by UNICEF staff in conjunction with others under a purpose vehicle, Protection From Sexual Exploitation and Abuse (PSEA) Nigeria, with the mandate to tarnish authorities with alleged sexual crimes. Amnesty International has simply resumed the assignment it earlier handed over to PSEA and is now calling these agents of instability from PSEA its researchers.
“We are aware that staff of Amnesty International, UNICEF and the other member-organizations of PSEA were given quotas on the number of alleged sexual abuse/sexual exploitation cases to file towards the realization of these lies packaged as a report.
“The decision of Amnesty International to only base its so-called report on 2015-2018 is suspect and confirms that whoever is financing its PSYOP in Nigeria is angry that the tide was turned against their Boko Haram agents since the current political and military leadership took over the helms of affairs in 2015. It is sickening that Amnesty International can now be using its report to praise the dark era when cities as far south as Kogi state were under siege from Boko Haram terrorists.
“In its long-established tradition of compulsive lying, all its interviewees are unanimous. What is playing out here is another Nayira Testimony of Amnesty International’s Nayirah al-Ṣabaḥ legacy. It should have by now learnt that there are discerning people that see through these lies even before they are told. We are aware that Amnesty International has learnt since the Nayira saga to obscure the identity of its so call witnesses so that it becomes impossible to verify its claims, which would invariably be found to be lies since that is what its agenda thrives on.
“We like to put our military, intelligence and security agencies on notice that this is a pattern we have become all too familiar with. Whenever Amnesty International issues this kind of report it means it has just concluded paying mobilization to its Boko Haram fighters, recruited new suicide bombers and provided psychotropic drugs and explosives – all geared towards helping the terrorists regroup.
“It will not be surprising if there is a sudden spike in attempted Boko Haram attacks and lot diversionary incidents involving Amnesty International-backed separatist, extremist and militant groups operating in Nigeria. This has been the pattern over the years and we see same repeating in the coming days now that the criminal NGO is releasing its report.
“We therefore warn authorities to be vigilant for this spike in attacks.
“They must also begin to build confidence of the population because the war on terrorism has now spread to become the battle for perception as Amnesty International is intensifying efforts at maligning the country’s security architecture so that people will perceive the military in bad light and stop volunteering information that have been crucial to degrading Boko Haram.
“The Federal Government is hereby reminded that the demand made last year for it to kick Amnesty International out of the country has not been withdrawn. Amnesty International, its staffers and so-called researchers are persona non grata and Nigerians shall not be liable for whatever befalls them as a consequence of trying to emasculate the military as part of larger plot to collapse Nigeria.
“Nigerians are not going to sheepishly step on the conveyor belt of Amnesty International’s destabilization agenda to be like Iraq, Yemen, Libya and other countries where Amnesty International has successfully executed its contract of incapacitating the military through webs of lies spun in the name of upholding human rights.
“The protest march of today is merely a rehearsal. It is the beginning of the occupation of Amnesty International until it gets out of our country. With the tenacity the NGO has shown in its bid to destroy Nigeria, we will not pull back like we did the last time its lies made us to occupy its premises. We have had enough of its destabilizing lies and we say Amnesty International must leave Now!”
During the protest today, angry Nigerians stormed the office of the Amnesty International, virtually bringing its activities to a temporarily end.
This development came barely one week after the Nigerian Army panel of inquiry exonerated the military of colliding with terrorists in the country.
Comrade Danesi Momoh who is the National Convener of the Civil Rights Groups, said that the protest march today, Wednesday, was merely a rehearsal, insisting that the International agency must quit Nigeria if it fails to stop such false information.
The Deputy Governor of Bauchi State, Nuhu Gidado, has resigned.
According Channels Television’s report today, Gidado submitted his resignation letter to Governor Mohammed Abubakar earlier today, Wednesday, citing his waning enthusiasm for the job as reason for leaving.
The Christian Association of Nigeria (CAN) has called on Nigeria and other countries to relocate their embassies from Tel Aviv to Jerusalem.
The CAN President, Samson Ayokunle, who made this call yesterday, Tuesday in Abuja in a statement signed by his spokesperson, Adebayo Oladeji, said that the relocation of the capital to Jerusalem should be a “Special Anniversary Present from the God of the Patriarchs.”
Ayokunle commended the Israeli government on the 70th anniversary of their country, adding: “it is our prayers that other countries, including Nigeria will relocate their embassies from Tel Aviv to Jerusalem.
“We appreciate the leadership role of the United States in the landmark historic event. We are happy that countries such as the United States of America, Guatemala, Honduras, Romania and Paraguay have relocated their embassies from Tel Aviv.”
According to the CAN President, the declaration made by President Donald Trump on December 6, 2017 was a fulfillment of Biblical prophecy.
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Economy: Facts Are Stubborn Things, By Femi Adesina
Some people have made it a pastime to talk as if there is no silver lining in the sky as far as the Nigerian economy is concerned. They carry on as if it is doom and gloom all the way, a thoroughfare of woes. This they do, to hoodwink the public, and peradventure gain political advantage for themselves, or their principals.
But facts are stubborn things. Those arrayed against facts may abhor and deride them, but there they are, staring them starkly in the face. Here are some current facts about the Nigerian economy, which naysayers may not be able to do anything about:
According to the National Bureau of Statistics (NBS), the economy has recovered from the slow-down and eventual recession, which started in 2014. There has been improvement with stronger growth for three successive quarters. From contracting by 0.91% in Q1 2017, the economy has grown by 0.72% in Q2 2017, to 1.17% in Q3 2017, and 2.11% in Q4 2017.
The Q1 2018 GDP shows that the economy has recorded a GDP growth of 1.95%, compared to a contraction of 0.91% in Q1 2017.
The growth is driven by Agriculture and Industry, which shows that finally, after more than 50 years of lip service, the Nigerian economy is on the road to diversification. The oil sector’s contribution to GDP is 9.61%, while non-oil sector’s share is 90.39%.
One of the factors responsible for the positive performance of the economy in Q1 2018 was the spending of about N1.5 trillion on infrastructure projects in 2017.
For the past 15 months, inflation has declined consistently from 18.72% to 12.48%. The country is steadily on the road to single digit inflation rate.
The first quarter of 2018 saw a continuous growth in total capital importation into the country, the fourth consecutive quarterly increase since Q2 2017. The total value of capital imported is $6,303.63 million, a 17.11% growth over the figure reported in the previous quarter.
Foreign reserves stand at $47.79 billion, compared to $29.6 billion inherited in May 2015, after about six years boom in oil prices in the international market. The increase came at a time of modest oil prices, showing transparency and accountability by government.
Nigeria’s Stock Market ended 2017 as one of the best-performing in the world, with returns of about 40 percent.
Tax revenue increased to N1.17 trillion, in Q1 2018, a 51% increase on the Q1 2017 figure.
Milled rice production has increased from 2.5MT to 4MT, and rice imports have dropped from 580,000MT in 2015 to 58,000MT in 2016. Millions of dollars have been saved.
These are just little among the good things happening to the Nigerian economy. Only the wilfully blind will not see it, but it does not stop the good work, which continues.
On exiting recession last year, President Muhammadu Buhari had said he would not consider the job done, until the ordinary man feels the impact of the rebounding economy on his life and pocket. We are inexorably on that road, no matter what scoffers may say.