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Pastor Divorces His Pregnant Wife, Accuses Her Of Bringing Bad Luck To His Church

pastor-divorces-pregnant-wife

Apostle Kenneth Kiarie of God’s Covenant Holiness Church in Mihang’o, Kayole in Nairobi, has ended his marriage of about three months to his 23-year-old pregnant wife, accusing her of having brought bad luck to his church as the tithe and other contributions are no longer flowing like before. The couple wedded in April this year.

The 30-year-old pastor said that he hurriedly married Marion Wagitu “because being a pastor, I needed a wife officially married in church.” adding that he borrowed money to finance their wedding which has now left him in debt.

The two were said to have fallen in love when Marion, whom he saw as a ‘humble rural girl’ attended his church.

Marion said that the marriage has been a bumpy one, with Kiarie allegedly blaming her for the declining congregation numbers and tithe amounts in his church, because of her odd behaviours in and out of the church.

“He blames me over a Sh70,000 debt he incurred to fund the wedding. He claimed I threw hot tea and stove at him and attempted to beat him in front of his parents,” said Marion, adding that the man of God often left her with Sh5 for cooking oil on grounds that she was a villager.

The pastor is being accused however of of throwing out his newly wedded wife in order to marry another woman. Even before the honeymoon was over, their marriage hit the rocks sometime in July, with both parties pointing accusing fingers at each other.

“He used to tell me that if I left, I would not get a husband, and that he had scores of beautiful girls hanging around him,” says Marion, who is now back at her Murang’a village.

However, Pastor Kiarie denied the accusation and instead accused Marion of destroying their marriage through her weird behaviour, offensive words, attempt to assault him in front of friends and blood relations and accusing him of infidelity.

“Actually, that was the third time I chased her and it has now been successful. She wanted to control me but that is not African. I said we rather separate than have one of us dead,” he explains.

Marion felt offended that Kiarie rarely funded her salon makeover sessions, while Kiarie said: “she even said I never bought her underwear. I don’t consider her sober and I want her sanity checked. I believe nobody can stay with her unless she changes.”

The short-lived marriage has been the talk of the village in Gaturi, Murang’a County and in Kayole. Kiarie says events that followed the wedding left him broke and unable to cater for her and their unborn baby.

“I did not want to send her away. I have never assaulted her, but being a pastor, everybody thinks I am the problem. A wife means a lot to a man, but Marion is not worth living with. She will harm me.”

While Marion claimed that the pastor was pressurized by his parents and siblings to dump her, Kiarie said that she was spoilt by her parents who failed to reach out to the other side and mend differences.

Both admitted that the four months they courted was too short to really know each other.

“We had not shared a house or bed before we wedded,” said Kiarie.

Marion’s father, Gabriel Chege said that he overlooked Kikuyu traditions by allowing the wedding to take place before Kiarie had paid bride price.

Source: SDE.CO,KE. [myad]

 

FCT Police Describes Protest By Shiite Over Detention Of El Zakzaky As Satanic

 FCT Police boss Inalegwu fct-police-boss-mustapha-mThe Feder­al Capital Territory (FCT) Commissioner of Police, Muhammad Mustafa, has warned members of the Islamic Movement of Nigeria (IMN), who demonstrated yesterday, demand­ing the release of their lead­er Ibrahim El-Zakzaky to desist from further actions that will threaten the peace of residents of the capital city.

The commissioner, who briefed news men on the incidence, further warned that that his command will not fold its hands and watch the group disrupt the peace of the residents of the FCT, insisting that the protest was illegal and with satanic intention.

“In view of the current security situation in the country, the command un­equivocally reiterate that while it will continue to be professional in the dis­charge of its constitution and statutory role of pro­tection of lives and prop­erty of all the good people of the FCT and equally recognize the right of citi­zens to express their law­ful grievances, the com­mand will not, I repeat, the command will not fold its arms by permitting some individuals or groups of persons to threaten the ex­isting peaceful atmosphere in the FCT under the guise of expressing alleged griev­ances.

“To this end, I therefore warn those of the Shi’ite group to desist forthwith as the protest is not intended to be peaceful.” [myad]

No one Can Intimidate Us, EFCC Tells Protesters On Dame Patience $15 Million Saga

efcc-in-port-harcourt

“EFCC is a law abiding organization which discharges its duties not minding whose ox is gored. We do not shy away from our responsibilities. Where there is a case, we pursue it to logical conclusion, if there is no case, there is none, we move to other things. The motto of the Commission is “Nobody is Above the Law.”

These were the words of the South South Zonal head of the Economic and Financial Crime Commission (EFCC), Ishaq Salilu, today, Friday when he addressed a group of protesters under the aegis of “Coalition of Civil Rights Organisations, Concerned Youths and the Ijaw Nation Worldwide,” on the controversy dogging the $15 Million which Dame Patience, wife of the immediate past Nigerian President, Dr. Goodluck Jonathan claimed belonged to her.

The protesters had thronged the Port Harcourt zonal office of the Commission where the zonal boss of the anti graft agency insisted that the agency is law abiding which discharges it duties without fear or favour, adding that as a creation of law, it will discharge its responsibilities within the ambits of the law.

Ishaq commended the protesters for the peaceful manner they conducted themselves and assured them that their letter will get to the appropriate authorities.

The protesters carrying placards with various inscriptions, such as “Patience is Innocent,” “How Many First Ladies have Been Tried in Nigeria,” “Mrs. Patience Jonathan Deserves Respect, Stop Embarrassing Her,” “EFCC Stop Victimizing Niger Delta People,” “EFCC How many corrupt Nigerians have been prosecuted and jailed,” and so on. They were led by Sukubo Sara-Igbe Sukubo, a self acclaimed ambassador.
Sukubo said that they were in the Commission to express their unhappiness and submit their letter of protest over what he called ill-treatment of the former first Lady.

“We, as coalition of Niger Delta Civil Rights Organization, Concerned youths and Ijaw Nation World Wide, hereby, demand that the EFCC should stay off Mrs. Patience Goodluck Jonathan, as there is no established legal or political precedent for what EFCC is currently doing to Mrs Patience Jonathan.”

Mrs. Jonathan recently instituted an action against the EFCC claiming that the money placed on “Post-No-Debit category” in the accounts of four companies currently being prosecuted on money laundering charge by the Commission, belonged to her. [myad]

 

Emergence Of Akeredolu As Ondo APC Gubber Candidate Runs Into A Hitch

akeredolu-rotimi-of-ondo-apc

The emergence of the former President of the Nigerian Bar Association (NBA), Rotimi Akeredolu, has run into a hitch, with his opponents, Senator Ajayi Borofice, Olusola Oke, Abraham Olusegun kicking against him.

At a news briefing today, the trio referred to the election and emergence of Akeredolu as grim dirtiness that characterized the process which was not captured and shown to the people of Ondo State in the cinema beamed live on 3rd September, 2016.

“Since we have discovered the dirtiness in the process of the last primary election, it is necessary, as change agents, we speak against the corruption in the process.”

They alleged that there was what they called ‘fraudulent injection’ of three hundred and eighty three (383) names into the delegates list that was used to conduct the primary election, adding that there was also the issuance of delegate tags to non-delegates and allowing the non-delegates to vote in the primary election.
“On investigation, three hundred (300) delegate tags were indiscriminately issued to non-delegates, two designated buses were provided to convey known non-delegates to the voting centre and voted to give undue advantage to one of the aspirants. These, among others were discovered after the charade called credible election.”

The full text of the press statement reads:

You will recall that the All Progressives Congress, Ondo State Chapter, held its Gubernatorial Primary Election on Saturday, September 3rd, 2016. Recall also that three major aspirants here present lodged serious and substantiated complaints against the process of the election.
Gentlemen of the press, since election is a process, this media chat is to once again bring into the public domain the grim dirtiness that characterised the process which was not captured and shown to the people of Ondo State in the cinema beamed live on 3rd September, 2016. Since we have discovered the dirtiness in the process of the last primary election, it is necessary, as change agents, we speak against the corruption in the process. As you are aware, we approached the Primary Election Appeal Committee provided for by the APC Primary Election Guidelines.
As enumerated in our petitions, which we submitted to the Appeal Committee that was duly constituted by the National Executive Council (NEC) with the approval of the National Working Committee of APC and as contained in the Primary Election Guidelines of APC, the following are the planks upon which our appeals are based:
Fraudulent injection of three hundred and eighty three (383) names into the delegates list that was used to conduct the primary election.
Issuance of delegate tags to non-delegates and allowing the non-delegates to vote in the primary election.
On investigation, three hundred (300) delegate tags were indiscriminately issued to non-delegates, two designated buses were provided to convey known non-delegates to the voting centre and voted to give undue advantage to one of the aspirants. These, among others were discovered after the charade called credible election.
It is important to bring into the public domain that on Friday, September 2nd, 2016, a new copy of compromised delegates list was made available to all the aspirants by the Election Committee of APC around 10:30pm. On the receipt of the purported new delegates list, we all made a written protest letter, including Rotimi Akeredolu, SAN transmitted our letters to the Primary Election Committee Chairman informing him of our rejection of the substituted delegates list.
As democrats, having discovered the fraud in the process, we submitted ourselves to the process of redress as stipulated in the Primary Election Guidelines of APC, believing that we are safe in the hands of supposed democrats. The Appeal Committee, within the mandate of their authority, having regards to the preponderance of evidence laid before it recommended that the election be nullified and another election be conducted.
In line with the Electoral Guidelines of APC, the report of the Appeal Committee was submitted to the National Working Committee for final ratification.
Gentlemen of the press, considering our strength in the APC and a total votes of 1,617 in the primary election, as the Apex authority in the administration of APC in Nigeria, we have always assumed sanity and reasonableness on the part of the members of the National Working Committee. We hope the members of the working committee will uphold justice and exorcised corruption from the process.
Yesterday, September 22nd, 2016, the National Working Committee considered the report of the Appeal Committee and puts its decision on the recommendations of the Appeal Committee to vote. The majority of the members of the National Working Committee voted that the recommendations of the Appeal Committee be upheld. To our dismay and in a manner at variance with democratic norms, the National Chairman overruled the majority of the National Working Committee. He rejected the path of truth and upheld the primary election that its process was characterized with corruption.
Let it be known that we are not deterred by the action of the National Working Committee and the undemocratic behaviour of the National Chairman, we are encouraged by the genuine desire of the people of Ondo State for a change that will free them from the economic captivity of the present administration in Ondo State.
We are determined to liberate our people and no undemocratic decision of a party and its leadership will be allowed to misdirect our attention from the goal.
We have a mission, mission to liberate our people, mission to bring about sustainable change, a mission to give government back to the people of Ondo State.
Therefore, we hereby condemn in absolute terms the undemocratic decision of the National Working Committee. Since the party and the official leaders of the party have found pleasure in covering fraud, we owe the people of Ondo State a sacred duty of liberation. This we are committed to and this we shall do.
In the days ahead, we shall consult widely and make public the next line of action that will liberate our people from the present state of hopelessness and despair.
Thank you and God bless you.
. Being the text of a press conference by three of the aspirants for the governorship ticket of the All Progressives Congress in Ondo State – Senator Ajayi Borofice, Olusola Oke, Abraham Olusegun – against the emergence of a former President of the Nigerian Bar Association, Rotimi Akeredolu. [myad]

Kwara Closes Down 10 Substandard Private Schools

Kwara Governor Abdulfatah Ahmed

The Kwara Government has shut down 10 private schools built with wooden slabs and operating without due authorization from the state government.

The Director, Quality Assurance Bureau (QAB) of the Kwara Ministry of Education and Human Capital Development, Hajia Zainab Bello, told the News Agency of Nigeria (NAN) in Ilorin that the schools are unsuitable for child learning.

Zainab said that these schools were closed down due to poor infrastructure and un-conducive learning environment, adding that the pupils could not assimilate well in an untidy environment.

The director assured of the state’s government’s commitment to ensure quality education, stressing that government would continue to close illegal private schools.

“These schools are built with wood slabs and the surrounding could not be said to be suitable for human beings, talk-less of little children.\ The children are packed and sandwiched in the untidy classrooms demarcated with slabs.

“There is no way any child can receive sound education in uncompleted buildings that is why the Quality Assurance Bureau team are fishing out illegal private schools in the state.”

Zainab expressed disappointment at the disobedience shown by some proprietors who went ahead with the schools in spite of several warnings from the state government.

She warned school proprietors that the state government had zero tolerance for unauthorised private schools and that those found would be dealt with to serve as deterrent to others.

The director mentioned the affected schools to include New Creation Nursery and Primary School, Adabata, Habitat Nursery and Primary School, Al- Salam Nursery and Primary School, Allahu Samad Arabic School as well as Almalik Nursery and Primary School.

“Others schools affected are Great Success Nursery and Primary School, Isale Aluko, Aduni Success Islamic and Arabic International Model Center Ajikobi.

Zainab also listed others as Ridwanulkahi Nursery and Primary School, Isale Aluko, Alubarka Nursery and Primary School, Ajikobi and Almubashirina Nursery and Primary School, Ajikobi. [myad]

God Has Done So Much For Me, I Have Reasons To Forgive Those Who Hurt Me – Buhari

Buhari 4

President Muhammadu Buhari went sober in the United States of America, where he thanked God for having done so much for him which gave him reason to ask Him to give him strength to forgive those who hurt him.

The President, who addressed Nigerians professionals living in the US, declared… “I prayed so hard for God to make me President. I ran in 2003, 2007, 2011, and in 2015, He did. God has been very good to me, so I can’t complain. If I feel hurt by anybody, I ask God to help me forgive. He has done so much for me.”
Buhari, who narrated the sordid economic situation he inherited from his predecessor, said however that he is not complaining, adding: “I can’t complain, since I prayed for the job. In the military, I rose from 2nd Lieutenant to Major-General. I was military governor in 1975 over a state that is now six states. I was head of state, got detained for three years, and headed the Petroleum Trust Fund (PTF), which had N53 billion of that time in Nigerian banks.
“After 16 years of a different party in government, no party will come and have things easy. It’s human.”

The President appealed to Nigerian professionals in America and in Daiaspora generally to render helping hands to his government to succeed in revamping the ailing economy.

“We need quality hands to run Nigeria, and we will utilize them. I will like to welcome you home when it’s time. But I’ll like you to be ready.”

The professionals, made up of top flight aeronautics engineers, physicians, I.T experts, a Judge, a top policewoman, entrepreneurs, an Import Specialist at Customs and Border Protection, professors, two straight A students, and many others have converged from different parts of the United States of America in New York to meet with the President.

The parley provided President Buhari opportunity to bring them up to speed on how and why Nigeria got into trouble, with an assurance that with all hands on deck, including the best brains in the Diaspora, the country would bounce back in the shortest possible time.
All the Nigerian professionals pledged to contribute their quota towards re-launching their fatherland to a new dawn. [myad]

Treasury Looters Recruited Militants Against My Government, Buhari Tells Nigerians In America

nigerians-in-new-york-with-buhariPresident Muhammadu Buhari has, for the first time since he assumed power in 2015, identified the treasury looters who are now facing various corruption charges as those responsible for the resurgence of Niger Delta Militants that have been blowing up oil installations to sabotage the economy.
He said: “those who stole Nigeria dry are not happy. They recruited the militants against us in the Niger Delta, and began to sabotage oil infrastructure. “We lose millions of barrels per day, at a time when every dollar we can earn, counts.”
President Buhari, who spoke today  when he had a meeting with various Nigerian professionals living in the United States of America, regretted that despite the huge money earned from oil when the going was good for Nigeria, very little was done to make the country great.
“It is a disgrace that a minimum of 27 states, out of 36 that we have in Nigeria, can’t pay salaries.
President Buhari narrated how Nigeria got to the present sorry state of the economy, saying: “we got into trouble as a country, because we did not save for the rainy day. For example, between 1999 and 2015, when we produced an average of 2.1 million barrels of oil per day, and oil prices stood at an average of $100 per barrel, we did not save, neither did we develop infrastructure. Suddenly, when we came in 2015, oil prices fell to about 30 dollars per barrel.

“I asked; where are the savings? There were none. Where are the railways? The roads? Power? None. I further asked; what did we do with billions of dollars that we made over the years? They said we bought food. Food with billions of dollars? I did not believe, and still do not believe.

“In most parts of Nigeria, we eat what we grow. People in the South eat tubers, those in the North eat grains, which they plant, and those constitute over 60 per cent of what we eat. So, where did the billions of dollars go? We did a lot of damage to ourselves by not developing infrastructure when we had the money.”

Buhari regretted also that the immediate past leader made nonsense of the nation’s once bubbling military, especially in the fight against the Boko Haram insurgents.

“Talking of our military, they earned respect serving in places like Burma, Zaire, Sudan, Liberia, Sierra-Leone, and then, suddenly, that same military could no longer secure 14 out of 774 local governments in the country. Insurgents had seized them, calling them some sort of caliphate, and planting their flags there; till we came, and scattered them.

“We raised the morale of our military, changed the leadership, re-equipped and retrained them; USA, Britain, and some other countries helped us, and today, the pride of our military is restored.

“Boko Haram ran riot, killing innocent people in churches, mosques, markets, schools, motor parks, and so on. And they would then shout Allahu Akbar. But if they truly knew Allah, they would not do such evil. Neither Islam, nor any other religion I know of, advocates hurting the innocent. But they shed innocent blood, killed people in their thousands. Now, we have dealt with that insurgency, and subverted their recruitment base.” [myad]

My Yankari Experience, By Cemal Yigit

yankari-game-reserveI had heard quite a lot about Yankari Game Reserve in Bauchi state from a couple of friends before my last visit sometime last week. I must confess that I was caught in awe. Yankari Game Reserve is a breath-taking place. I could argue that it’s one of the most beautiful places in Nigeria.
From Katsina where I went with my family for the Eid celebrations on the invitation of the Emir of Katsina, we proceeded to Kano and linked Bauchi which happened to be a very smooth ride. And guess what? I drove without any human guide. My only guide was my phone using google maps. Quite strange I know. Even the military men on the road were quite astonished at my guts. Driving all alone with my wife and two children without any guide. The parting word from them is “be careful” and my response was always “I am a Nigerian.”
The ride from Bauchi to the gate of the reserve was also hassle-free. I totally enjoyed all the formalities and documentation at the gate on safety issues and the do’s and don’ts especially by the security personnel on duty. They were very professional, and that in itself gave me some form of assurance that we were going to enjoy our stay.  The distance from the main gate to the resort itself was about 42 kilometers. I mean 42 kilometers with nature’s beauty and serenity. I could sense the excitement on the faces of my kids as we embarked on the trip to the resort itself. You are driving in the middle of the forest, and you meet a lot of animals like monkeys, baboons, bears, colorful birds that I haven’t seen in my life before and many others. It’s more like they are welcoming you to the resort if you ask me.  I was also really impressed with the various signs on the road leading to the resort.
And behold we were right at the gate of the resort. It was a huge shock. And I could see the light in the eyes of my wife and kids. Again, the security men welcomed us warmly and also was another round of checks, documentation and cautions on the dos and don’ts at the resort. Especially with the baboons. The warning was, “don’t attempt to give them food; else they might ruin your stay by always wanting to get more food from you. They can even grab your bag open to take food or snatch your lunch box right from your hand.” It was a funny experience on the side of the baboons. They are more like area boys. And they are everywhere amazingly.
The reception was professional. I was very impressed, likewise my wife. Our guide welcomed us warmly and took us around the various accommodations available, even though we had called earlier to book reservations. There was still that flexibility. At some point, we were all engulfed with the natural habitat, so much so that we were basking in the euphoria of our temporary home for a couple of days.
Yankari can’t be compared to anywhere I have visited in most of the African countries and even Western nations that I have visited. It’s such a huge place that covers an area of about 2,244 square kilometers. The attractions are too many at the resort. But for me, it was the natural warm water springs. It was so clean that even if you dropped a pin, you could see it. The wikki spring has a constant temperature of 31.1 °C through the year during both day and night. In one of my sojourns, my family and I spent over 10 hours in the spring, because of the warmth and relaxing nature. I thought I was on another planet.  I was left in awe with the ambiance. I was also carried away with the hugeness of the place and how it has been effectively managed since 1st December 1962 when it was opened to the public. Yankari was upgraded to a national park in 1991 and managed by the National Parks Service until 2006 when responsibility for the management of the reserve was handed back to Bauchi State Government and managed by the Ministry of Tourism and Culture of Bauchi State

turkey-cemal-yigit-of-nigeriaI was made to understand that the reserve is home to over 50 species of mammal including African bush elephant, olive baboon, patas monkey, Tantalus monkey, roan antelope, western hartebeest, West African lion, African buffalo, waterbuck, bushbuck, and hippopotamus. And over 350 species of birds.  According to the 2015 Annual report prepared by the Wildlife Conservative Society (WSC), Yankari Game Reserve contains the largest surviving elephant population in Nigeria, and one of the largest remaining in West Africa.
The Yankari Game Reserve is such an interesting place regarding infrastructures, road network, the quality of service, the safety measures in place, the professionalism of the staff and on the whole in location and ambiance. In my opinion, this place is fantastic and could be a huge revenue earner for the Nigerian government if enough publicity could be accorded the place as a number one tourist destination in Africa.
It is indeed the tourist destination of choice in Africa because, in all of my travels around the African continent, I haven’t come across such beauty to behold in all of my trips. This is quite commendable and more can be done.
There was also a humorous side to the whole experience. It’s the experience with the baboons. You are always advised to keep your doors and windows shut at all times because the baboons move around checking for doors that are open, and once they find one, they open and search for food. And if your window is left open, the parent baboons would allow their kids to go inside through the window to get food. I experienced this once, and it was just so hilarious. [myad]

Don’t Try Our Resolve, Police Warn Biafran Republic Agitators On Planned Protest

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Delta State Police Command have sounded a note of warning to members of the outlawed Indigeneous People of Biafra (IPOB) not to try their resolve to quell any form of illegal gathering and procession anywhere, against the backdrop of the planned protest slated for tomorrow, Friday.

The State’s Pofficer, Celestina Kalu. A Suprintendent of Police (SP) said in a statement that the command is ready to deal ruthlessly with any person or group that attempts to cause breach of peace for whatever reason.

“Intelligence report reaching Delta State Police Command indicates that members of the out lawed Indigenous People of Biafra (IPOB) plan to embark on a protest on Friday, 23rd September, 2016.

“The Command wishes to warn IPOB members to stay clear of Delta State as the state does not subscribe to such an agenda.”

Kalu said that the state Police Command and it’s personnel have been fully briefed on the Strategy of Operation (SOP) and rules of engagement and have been deployed and briefed to deal ruthlessly with any person or group of persons who attempts to cause the breach of peace for whatever reason. [myad]

Federal, 36 State Governments Back Nigeria’s Assets Sale To Inject Funds Into Economy

VP PRESIDENT PRESIDES OVER NEC MEETING 1. R-L; Vice President Prof Yemi Osinbajo, Kebbi State Governor, Senator Abubakar Atiku Bagudu, Ogun State Governor, Senator Ibikunle Amosu,  and Anambra State Governor, Chief Willy Obiano as Vice President presides over National Economic Council Meeting at the Council Chamber in State House, Abuja. PHOTO; SUNDAY AGHAEZE. JULY 21 2016..
The Federal and 36 state governments has agreed that one of the ways to generate immediate larger injection of fund into the economy that is now in recession is through asset sales as earlier suggested by the President of Dangote Group, Alhaji Aliko Dangote. This is even as the Nigeria Labour Congress (NLC) and the Trade Union Congress, as well as other individuals have kicked against such plan.
Rising from a meeting today at the Presidential Villa, Abuja, the National Economic Council (NEC), presided over by Vice President Yemi Osinbajo commended President Muhammadu Buhari’s Economic Management Team (EMT) working on plan to generate immediate larger injection of fund into the economy through asset sales, advance payment of license renewals, infrastructure concessioning and the use of recovered funds to reduce funding gaps.
The NEC, made up of the 36 state governors and other relevant stakeholders, is also happy with the implementation of Fiscal Stimulus/Budget Priorities, fast-track procedures through legislation and implementation of Strategic Implementation Plan (SIP) of the budget, meaningful diversification of the economy and cut down on importation.
In general, members of the NEC expressed support for the plans and proposals of the Federal Government to steer the country out of recession.
They acknowledged the current economic challenges and difficulties, even as they endorsed the work of the President’s Economic Management Team and specifically commended the Budget & Planning and Finance Ministers.
The Vice President is the Chairman of the Council, which advises the President on economic affairs of the federation and in particular on measures necessary for the coordination of the economic planning in the country. NEC is composed of Governors of all 36 states of the federation, and the Central Bank Governor.
Here are the Highlights of the Meeting as presented to the media by the governors of Kebbi of Kebbi, Oyo States and Deputy governor of Ogun state after the meeting that lasted over four hours.
A. PRESENTATION ON STATE OF THE ECONOMY BY HONOURABLE MINISTER OF BUDGET AND NATIONAL PLANNING
Highlights of the presentation:
Economy is currently in recession
Dependence on a Single Commodity (Crude Oil) whose price we do not control is a major factor
Oil price collapsed to less than $30 per barrel in Q1 2016 and market expectations are that it will stay lower for longer
However, this crisis is an opportunity to restructure and reset the economy
Measures for Economic Revitalisation:
The President’s Economic Management Team (EMT) working on plan to generate immediate larger injection of fund into the economy through:
Asset sales
Advance payment of license renewals
Infrastructure concessioning
Use of recovered funds etc to reduce funding gaps
Implementation of Fiscal Stimulus/Budget Priorities
Fast-track procedures through legislation and implementation of Strategic Implementation Plan (SIP) of the budget
Meaningful diversification of the economy and cut down importation
*RESPONSE TO THE PRESENTATION AND GENERAL COMMENTS
Council members in response commended the Economic Management Team and generally welcomed the presentation and expressed support for the plan to steer the nation out of recession
Under AOB, Council members expressed confidence in and unanimously commended the EMT and both the Budget & National Planning and Finance Ministers for the presentations to the Council, praising their efforts, competence and capabilities.
B1. PRESENTATION OF DRAFT REGULATIONS ON LAND USE ACT, 2013 BY THE PRESIDENTIAL TECHNICAL COMMITTEE ON LAND REFORM (PTCLR)
The PTCLR presented to Council draft regulations on Land Use Act 2013 which seeks to make provisions to Streamline mortgage transactions and clearly delineate the rights, duties and obligations of a mortgage
Other aspects of the draft are:
Conditions for disposal of proceeds of sale and subsequent mortgages and implied terms of a mortgage
Rights of redemption and remedies and issues on mortgage by companies
Power of Assignment by mortgage and right of transfer and application of insurance money by the receiver
B2 PRESENTATION ON PUBLIC PRIVATE PARTNERSHIP (PPP) INITIATIVES ON AFFORDABLE HOUSING BY HONOURABLE MINISTER OF FINANCE
Highlights of presentation among others:
Target of N1billion fund to operate PPP (N500 billion initial) to create a blended pool of long term funds to intervene in housing development finance and mortgage provision
Funds aims to deliver family housing priced from as low as N2.5 million up to N18 million delivered in a ready to occupy condition with essential services (water and power connected)
The delivery target is 400,000 to 500,000 housing units per annum
The ultimate aim of the programme is to channel funds from savers to borrowers, so that builders have the required capital to construct and prospective buyers can access credit to purchase
The fund will attract low cost local and international capital, including from domestic pension and insurance funds, FG funding, as well as contributions from State Governments and other agencies.
Roles of the States
State to designate a liaison with whom Family Homes Fund can interface
Expedite building plan approval process and security of land title
Invest in enabling infrastructure e.g. Federal roads
Other benefits among others are:
Improved urban planning and development
Employment generation and skills enhancement
Expansion of tax base
C1 REPORT ON EXCESS CRUDE PROCEEDS
Honourable Minister of Finance reported to Council that the balance in Excess Crude Account is USD 2.453 billion as at September 20, 2016.
C2 PRESENTATION ON BEST OPTIONS FOR MANAGING FLOATING FOREX POLICY INTRODUCED BY CBN: A JOINT PRESENTATION BY CBN/HM FINANCE
Highlights
CBN  introduced cautious Monetary Policy orientation as dictated by  consumer price and exchange rate
Adoption of policy tightening measures for flexible forex rate to address persistent pressures occasioned by scarcity and speculative demands
Improving market dynamics by CBN
Interventions to States in the area of salaries and in commercial agriculture
The presentation also noted the following:
Controlling inflation is key to stabilising other macroeconomic indices and the current stance of monetary policy is expected to continue to help lock-in inflation expectations
C3 UPDATE ON BUDGET SUPPORT LOAN FACILITY
Honourable Minister of Finance reported to Council that N50 billion has so far been disbursed to state governments, and the facility is ongoing. [myad]

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