Governor Ifeanyi Okowa of Delta State has reminded the rampaging Niger Delta Avengers that the continued bombing of oil installations will hurt the rgion more that the federal government they are aggrieved with.
Okowa, who spoke during his maiden audience participatory on the Delta Television and Radio Asaba, said that the attacks on pipelines had greatly depleted the state’s monthly revenue from both the federation account and internal sources.
He said that the 13 per cent Derivation Fund accruals were equally affected by the reduction in crude oil production owing to the resurgence activities of the militants as more than 250, 000 barrels of oil per day was being lost or shut in.
He therefore appealed to the people to prevail on those behind the attacks to desist from the act and embrace the option of dialogue as the state was the worse for it when the quantum of oil produced form Delta is drastically reduced.
“The last monthly allocation to Delta State was just N3billion (three billion naira) whereas the state has a monthly wage bill of N7.5 billion. Where are we going to source the shortfall from?”
The governor said that all the people particularly in the waterside areas and creeks should prevail on their children and youths to give peace a chance and cooperate with the government’s effort to negotiate a restoration of peace especially in the oil producing areas of the state.
He said that the high-powered Advocacy Committee headed by the Deputy Governor, Kingsley Otuaro has been visiting different communities in the state government’s efforts to restore peace and ensure security in the state and the Niger Delta as a whole.
He noted that Shell Petroleum Development Company (SPDC) had moved out of the state blaming it on security concerns in Warri area, noting that relocation by Shell meant a huge revenue loss to Delta in terms of tax or royalties as well as loss of jobs for numerous local hands. [myad]
President Muhammadu Buhari has said that he does not dictate to the Economic and Financial Crimes Commission (EFCC) and other anti-corruption agencies on who to arrest and who to get off the hook.
“When you look at the way that the EFCC and other law enforcement agencies have acted in recent times, you will notice that they are not under any kind of direction of influence of the President.
“They are given the independence to act; they are given the authority and backing to act in their own and to use their own discretion appropriately at all times. You don’t get any situation where the president says go get that person or back off that person.
The president who spoke through Vice President Yemi Osinbajo at the inauguration of the National Prosecution Coordination Committee (NPCC) with the power prosecute high profile financial and other criminal cases in the country at the presidential villa, Abuja, added: “it is a very serious responsibility because it also involves making sure that people are treated fairly or that people are not pursued by reason of bias or any other such consideration.”
President Buhari said that the committee also has similar powers to that of EFCC as he said “that is the sort of responsibility placed on your own shoulders as well, the responsibility to exercise prosecutorial power independently and without any direction except of course from the learned Attorney-General who is the constitutional and prosecutorial authority in the country.”
The president also charged the committee to ensure that the system was fair to all.
“When the system is fair everybody buys into it and it is not difficult for people to relate with it and support it”, he added.
Explaining that government took into consideration the legal skills and integrity of the committee members when constituting it, the president stated that every prosecuting organ or agent had the responsibility to put in place a system that “we ourselves would not be afraid to be subjected to”.
He said : “Given the nature of economic crimes and the enormity sometimes of the money that is involved and the influence of those who may have to be prosecuted, you need more than legal skills. You need men and women of strong character and courage who will not only be able to turn down inducements of any kind but also act without consideration for tribe, friendship, religion or any other parochial considerations.
“This is a very important committee because the administration itself is committed to ensuring that we are able to deal with not only question of corruption which is a big item on our agenda but also other economic crimes. Terrorism has assumed different shapes and proportions of late, and the vandalism that we see in parts of the Niger Delta, which has affected so many different things including oil production, power supply.
“We are in a very crucial time in our social development and a committee such as this is very necessary and historic because I do not know of any other of such committee in the history of this country,’’
The committee which is headed by the Attorney General of the Federation and Minister for Justice, Abubakar Malami has other 19 members outside the attorney-general.
Speaking after the committee was inaugurated, the Attorney General and Justice Minister said that the committee comprised 12 ex-officio and eight external members of proven integrity and competence.
“The aim is to ensure effective investigation and prosecution of high profile criminal cases in Nigeria.”
He added that the committee is not a duplication of the existing anti-corruption agencies, but that its mandate is to corroborate with the anti-graft agencies for effective services.
Other members of the committee included: Taiwo Abidogun-Solicitor-General/Permanent Secretary, Ministry of Justice; Dipo Okpeseyi, SAN; Chukuma Machukwu (SAN); Professor Bolaji Owasanoye, the Executive Secretary of the Presidential Advisory Committee on Anti-Corruption; M.S. Diri, Director of Prosecution,Ministry of Justice; Mr. Pius Oteh, Esq; Okoi Obono-Obla Esq; Mrs. Juliet Ibekaku; Mr. Abiodun Aikomo, Esq; Kehinde Oginni, Esq;. Salihu Othman Isah-Special Adviser, Media & Publicity to the Attorney-General; Al-Amin Ado Ibrahim, from the Office of the National Security Adviser (NSA); Nafiu Yakubu; Tunji Oluborode, Esq; Eric Onokif Ifere Esq; Mrs. Diane Okoko; Temitope Adebayo, Esq; DIG Abdulrahman Yusuf, RTD and Sylvester Imhanobe, Esq, Secretary to the Committee. [myad]
Kano state governor, Dr. Abdullahi Umar Ganduje, has sacked the Secretary to the State Government (SSG), Engineer Rabiu Sulaiman Bichi. The governor quickly appointed Usman Alhaji Usman to replace him.
The governor has also approved the appointment of Alhaji Ibrahim Mohammed Kankarofi as the new principal private Secretary to the governor.
In a radio announcement on Saturday morning by head of civil service, Alhaji Auwalu Mohammed Naiya, Director General media and communication to the governor, Alhaji Halilu Dantiye, was posted as Permanent Secretary and replaced by Salihu Tanko Yakasai as new DG media.
The former SSG is a close confidant and ally of Senator Rabiu Kwankwaso and was very influential during the administration of his former boss.
He was instrumental to the numerous successes recorded by former Governor Rabiu Kwankwaso.
Since taking over last year, the current Governor had retained the SSG and the Accountant-General, Dr. Danjuma Mahmoud, whom he inherited from Kwankwaso’s administration.
He has been under pressure from his camp to replace them since the beginning of the cold war between him and his former boss.
Some staff at the SSG’s Office were however taken unawares of the removal of Engineer Rabiu Bichi. [myad]
The relocation of the Nigerian Military Command Centre to Maiduguri, since May 2015, contributed to the success in the fight against insurgency in the North Eastern part of the country.
As at February 2016, the total number of persons rescued by the Nigerian troops during the ongoing operations in the North East came to 11,595
Since December 2015, the well-motivated and rejuvenated Nigerian Military have regained all Nigerian territories previously under Boko Haram control.
Prioritized regional cooperation in the fight against Boko Haram insurgency and violent extremism, through the operations of the 8,500 strong Multi-National Joint Task Force in N’Djamena, the capital of Chad, currently headed by a Nigeria military general.
Nigeria has provided $21million USD to the Task Force since June 2015 and is committed to an additional $79 million USD, bringing the total of Nigeria’s commitment to the Task Force to 100 million USD.
Cohesive international support in the fight against terrorism and assistance to victims and communities affected by terrorism, following President Buhari’s meeting with G7 leaders and other world powers.
In May 2016, Nigeria hosted a Regional Security Summit to boost military operations against Boko Haram and forge a global support for the rehabilitation of the IDPs and rebuilding of the North East.
In June 2015, the United States announced a 5-million-dollar support for the fight against the terrorists in the sub-region.
In April 2016, during the visit to Ms Samantha Power, the U.S Ambassador to the UN to Nigeria, Cameroon and Chad, the U.S Government further announced an additional $40 million USD for humanitarian assistance in the sub-region
Recruitment of additional 10,000 persons into the Nigeria Police Force is ongoing. The recruitment will address the manpower gap which currently exists in the Nigeria Police
Overhaul of the dysfunctional topmost hierarchy of the Nigerian military which resulted in optimal result and degradation of the Boko Haram elements.
Was able to bring back our hitherto military allies; which saw the United States and UK governments commit their resources to the fight against the insurgents after previously backing out of negotiations with the previous administration. The Israeli government has also indicated interest in the fight against insurgency.
Introduction of the motor cycle battalion (This is so that the Nigerian Army can travel to remote areas that were not accessible to cars/trucks)
Realigned our partnership with regional allies by embarking on foreign visits which resulted in bilateral and multilateral agreements to tackle insecurity back home.
No more roadblocks and curfews, which normally impeded free flow of movement.
Continuous monitoring of activities in the region of war through the use of satellite images and geographical information system is helping in fighting insurgency and strategizing against the enemy.
The trips to our neighbouring countries showed the resolve of the President to push Boko Haram elements out of existence by going for the jugular of the group, cutting their arms, food supply routes. Support has thus been mobilized through the Multinational Joint Task Force.
Another major stride is the Trans National Organized Crime (TNOC) where the president got partnership with regional allies in the fight against the proliferation of Small Arms and Light Weapons.
As part of the reconfigured military partnership, the United States donated 24 mine-resistant armoured vehicles (MRAP) which had protected the Nigerian troops from the menace of Improvised Explosive Devices. Today we have less causalities.
Reached out to the G7 countries and achieved the following: intelligence sharing; technical military training; arms deals/donations
Overhauling of NIMASA. A reversed policy of the past administration where national infrastructural assets were given to militia leaders to protect as against established bodies like the Nigerian Navy was stopped.
The President Buhari government has drafted the army to partner with other security agencies in ensuring the security of our national infrastructure and this is already yielding the desired results.
A major ring of pipeline vandals in Lagos state were captured recently in a joint operation by security forces led by the army.
The government has renewed its fight against oil bunkering
The Nigerian Navy has recorded tremendous success lately in apprehending vessels used by oil thieves. This operation has improved security on our water ways and it has also helped improve the revenue of government.
Deployment of sophisticated weapons to ensure vandalism is contained by setting up a pipeline security force in stamping out the menace.
Effective Management of the Separatist Biafran Movement
Improving the technical capacity of Nigerian Police Force. We now have a forensic lab and GSM tracking device. We now have a more IT integrated Police force.
Restructuring of Nigerian Immigration to stop cross border crimes.
NSCDC has become more proactive in the prevention of pipeline vandalization, with arrest of several pipeline vandals.
Joint operations involving various security outfits in curbing the menace of the herdsmen in the country has been set up.
The use of surveys and updated mappings across the country as strategies for preventing threats among ethnic groups in Nigeria.
CORRUPTION
Right from the moment he won the Presidential Election in 2015, the impression of the President as a ‘‘no nonsense and incorruptible leader’’ sent a signal to looters of public funds, with many of them returning funds that had been stolen under the previous administration.
To create a frame work for prosecuting the war against corruption and institutionalize probity, President Buhari set up an Advisory Committee on War Against Corruption.
The anti-corruption battle is gaining ground with several high profile cases already in the courts. The administration is being guided by the rule of law in the prosecution of corruption cases.
President Buhari enlisted the support of multilateral institutions like the World Bank and IMF, security agencies, Western countries and other friendly nations to locate and repatriate stolen assets.
At a London summit on anti-corruption, President Buhari announced that Nigeria will begin the full implementation of the principles of the OPEN contracting data standards.
In the first quarter of 2016, President Buhari embarked on trips to the Middle East to sensitize the governments on the need to repatriate stolen assets and hand over the looters for trial in Nigeria. In January, Nigeria and UAE signed Judicial Agreements on Extradition, Transfer of Sentenced Persons, Mutual Legal Assistance on Criminal Matters.
In March 2016, the Federal Government and the Swiss Government signed a Letter of Intent On the Restitution of Illegally-Acquired Assets forfeited in Switzerland. Under the agreement, Switzerland will repatriate $ 321 million USD illicitly acquired by the Gen. Sani Abacha family.
In March 2016, the Presidential Committee set up to probe contracts awarded by the Office of the National Security Adviser (ONSA) from 2011 to 2015 announced the recovery of over N7 billion from indicted companies and individuals.
ECONOMY
Implementation of the Treasury Single Account (TSA) has provided greater visibility of government revenues and cash flows. Between June 2015 and April 2016, the Federal Government TSA collection clocked N3trillion.
To further instill fiscal discipline, President Buhari directed the closure of all multiple accounts in Ministries, Departments and Agencies of government, thereby plugging loopholes for leakages with new technology.
The opaque accounting structure of the NNPC has been reconstructed to be more transparent with the closure of more than 40 accounts. As a corporate entity, NNPC is now accountable and more transparent in operations, publishing its monthly financial reports.
The President also resolved the lingering shadowy oil swap deals that had cost the country billions of dollars and left it at the mercy of a few rich Nigerians.
To alleviate the suffering of Nigerians in September 2015, President Buhari directed the Central Bank of Nigeria to disburse N689.5 billion as bailout to 27 states of the federation to pay salaries.
To stimulate the economy and reduce poverty, in April, 2016, President Buhari approved deferment in the payment of the bailout as states were still reeling under the burden of the fall in commodity prices.
Records of more than 34,000 ghost workers draining the nation’s resources were expunged from the Federal Civil Service, saving N2.29 billion monthly.
In 2015, President Buhari ruled out the appointment of a government delegation for pilgrimage to Saudi Arabia. By this decision, the government saved about one million U.S dollars and N30m of local expenses
Enforcement of the Bank Verification Number: Also the BVN has ensured that the menace of “ghost workers” are being identified and dealt with, while looters with multiple accounts can no longer hide their loot undetected.
Social Protection: Groundwork for social intervention/palliatives for the poor is being put in place as data is being collated by the economic planning office of the VP in conjunction with the World Bank.
Reorganization/restructuring of the Nigerian National Petroleum Corporation (NNPC) into a focused, accountable and transparent institution with autonomous Units (Upstream; Downstream, Gas & Power; Refineries; Ventures and lean Group Headquarters)
Reduction of operational deficits in NNPC by over 50% as at March 2016 as a result of Increased Transparency and Commercial focus
Conduct of NNPC outstanding Annual Audits from 2011 to 2014, and the publication of Monthly Financial and Operations Reports to ensure transparency
Introduction of third party financing in order to eliminate direct funding of cash calls by the Federal Government
Renegotiation of existing service contracts under Joint Venture and Production sharing contracts (PSC) Operations by about 30% leading to operational efficiency improvements and cost reductions
Elimination of the Offshore Processing Agreement (OPA) through the introduction of the Direct Sales and Direct Purchase (DSDP) scheme with reputable off-shore refineries thereby yielding annual savings of US$1 billion
Resuscitation of Port Harcourt, Warri and Kaduna Refineries presently producing about 7 million litres of products per/day
Repair of products pipe lines and the resuscitation of supply of products from Atlas Cove-Mosimi- Ibadan- Ilorin after a six year lull
Repairs of Escravos/ Warri and Bonny/Port Harcourt crude oil pipe lines
Introduction of a Price Modulation framework for downstream petroleum product pricing to encourage responsiveness to market dynamics
Guided deregulation of the downstream sector to allow market forces determine product price and eliminate subsidy payments
Introduction of the initiative on refinery co-location to increase domestic refining capacity and minimize the drain on scarce foreign exchange for product importation
Commenced policy reforms for gas monetization, flare out and infrastructure development, to fast track power supply and economic diversification.
POWER
Under President Buhari, the Federal Government agreed to a 50 million Euro (about N11.15 billion) loan agreement with French government for capacity-building and upgrade of power training facilities in Nigeria.
Nigeria signed a $237 million agreement with World Bank to improve power.
Chinese solar power manufacturers agreed with the Federal Government to set up solar panel manufacturing business in Nigeria.
President Buhari has signed an agreement with the Chinese government to improve Nigeria’s power infrastructure
ENVIRONMENT
Presidential approval for the Implementation of United Nations Environmental Programme (UNEP) report 2010 for the clean-up of Ogoniland with regards to oil pollution and inclusion of stakeholders in the process of implementation.
Continuation of the implementation of the Great Green Wall project to fight and contain desertification in Northern Nigeria initiated by past administration.
JUDICIARY
Since assumption of office, President Buhari has maintained a clear stance on the rule of law and respect for separation of powers.
The President has focused on the strengthening of institutions with key appointment of professionals.
Appointment of 30 new Federal High Court Justices
NATIONAL IMAGE
On assumption of office, the President undertook some foreign trips both within and outside Africa to re-establish Nigeria’s position in the global arena and solicit support for Nigeria and Africa.
President Buhari has continually pushed the agenda for enhancing Nigeria’s global image by always demonstrating Nigeria’s credentials in the 2015 general elections, which saw the country scoring high on peaceful transition.
President Buhari strongly supported the emergence of a Nigerian, Dr Akinwumi Adesina, as President of the Africa Development Bank.
Office of the Special Adviser to the President (Media & Publicity). [myad]
President Muhammadu Buhari, has frowned at child and forced marriage as well as other form of exploitation of children by Nigerians and called for immediate stop to such attitude.
The President who made this call Friday during the National Children’s Day Celebration at the Eagle Square, Abuja, said that there is urgent need for all stakeholders, including parents and communities at all level to protect children against any form of violence.
Buhari who was represented at the occasion by the FCT Minister, Malam Muhammad Musa Bello, said the Federal Government was resolute in its efforts at rescuing all the missing Chibok Girls.
He cited the recent rescue of Amina Ali Nkeki and Sarah Luka all of Chibok, as evidence that government was unwavering in its resolve in that regard.
The President said, no child or indeed any other Nigerian should be put through the brutality of abduction, violence or forced marriage in whatever form, stressing that every girl has a right to education and choice of life.
President Buhari who emphasized the commitment of his administration to protecting the rights of children as enshrined in the Child Rights Act, 2007 as well as in the 1999 Constitution of the Federal Republic of Nigeria, said his government would continue to fight the scourge of child abuse, child abduction, child labour and child trafficking among others.
He directed the Ministry of Women Affairs and Social Development to liaise with other agencies to work out appropriate programmes including actions and measures that would help in tackling violence and abuse against children.
He wished children happy celebration, even as he advised them to be responsible citizens by respecting constituted authorities as well their parents, teachers and elders.
He called on parents to teach their children to live a life of honesty, dedication and love for the country.
In her address, the Minister of Women Affairs and Social Development, Hajiya Jumai Alhassan who was also represented at the occasion by the Ministry’s Permanent Secretary, Hajiya Binta Adamu Bello assured that the government would not leave any stone unturned in protecting the rights of the children. [myad]
The embattled Chris Giwa appears to have lost control over his attempt to control the Nigeria Football Federation (NFF) even as he has just been banned for five years by the Confederation of African Football (CAF) In the letter signed CAF’s Secretary-General, Hicham El Amrani, the African soccer ruling body said that the ban was sequel to the reportage of the crisis in the NFF. The matter was taken to CAF by the NFF Board led by Amaju Pinnick. El Amrani said that after studying the case as reported to it, it decided to ban Giwa and his co-travellers in the factional NFF. Others affected by the ban are Muazu Suleyman, Yahya Adama, Sanni Fema and Johnson Effiong. The letter, addressed to Pinnick and titled: “RE- CONVEYANCE OF SANCTIONS BY NFF DISCIPLINARY SANCTIONS EXTENSION AT THE CONTINENTAL LEVEL,” reads in full: Dear President, Following your previous correspondence dated May 16th and subsequent exchanges, CAF has well noted the decision of the NFF’s Disciplinary Committee dated May 12th placing five(5) year ban from all football related activities for the following people. Christopher Giwa Muazu Suleyman Yahaya Adama Sani Fema Johnson Effiong Following receipt of the documentation and details on the case, CAF hereby confirms the extension of such sanctions at the continental level. Please accept, dear President, our most sincere regards. CONFEDERATION AFRICAINE DE FOOTBALL Hicham El Amrani, Secretary General. [myad]
The United States of American Government has said that it was encouraged by President Muhammadu Buhari’s decision to host the security summit for leaders committed to ending the activities of Boko Haram.
Ambassador David Pressman, the United States Alternate Representative to the United Nations for Special Political Affairs, said on Friday that Buhari’s hosting of the regional security summit in Abuja recently was a masterpiece in the war against the insurgents. In a statement, Pressman said that the US Government was encouraged by President Buhari’s decision to host the security summit for leaders committed to ending the activities of Boko Haram, saying: “the United States is encouraged that under Nigerian President Buhari’s leadership, a Security Summit of regional leaders, committed to carrying out a ‘sustained, comprehensive approach’ against Boko Haram was organised. “This, couples with rights-respecting security operations and civilian efforts to restore stability, promote governance and economic development to break the cycle of violence in all countries where Boko Haram is active. “The UN system, including the Special Representatives for West Africa and the Sahel and Central Africa, should continue to assist the Lake Chad Basin region to implement such a comprehensive strategy.” According to the statement, it is only a comprehensive strategy that mobilises stakeholders, including development and humanitarian actors, that can address terrorism in the region. It also urged the UN to mainstream preventing violent extremism and counter-terrorism issues throughout its core work on peace and security and sustainable development. According to the statement, activities of the Boko Haram crisis have disrupted farming and trade and cut off communities from the means they require to subsist and to survive. It said: Today, an estimated 4.2 million people are in need of emergency food assistance in the Lake Chad Basin region and 2.6 million are displaced within Nigeria and the neighbouring countries. “From Mauritania and Mali to the Lake Chad Basin, to the Horn of Africa, we see the complex challenges exacerbated by climate change on peace, stability, and security.” [myad]
The governments of Nigeria and Niger have pledged to deploy all their know-how to attain self sufficiency in agriculture, away from the notorious oil. President Muhammadu Buhari who received a Special Envoy of President Mahamadou Issoufou of the Republic of Niger at the State House, Abuja on Friday, made it clear that time has come for the two countries to boost the growing bilateral ties between them, especially in the field of agriculture. President Buhari said that his government will closely look at the message from his Nigerien counterpart, which he said was aimed at enhancing and deepening the existing cooperation in agriculture. The President, who hoped for good rains in both countries to make for bumper harvest this year, said that good crop yield will avert the spectre of hunger. The President also used the occasion to congratulate the government and people of Niger on the successful conclusion of the country’s election and the swearing in of President Issoufou for a second term in office. The Special Envoy of President Issoufou and Senior Minister of Agriculture and Animal Husbandry, Albada Abouba, said that he had been sent to convey his country’s gratitude to Nigeria for its continuing support and cooperation, especially in the field of agriculture. He said President Issoufou was optimistic that existing bilateral ties will continue to get better under the current leadership in the two countries. [myad]
The Director-General of the Debt Management Office (DMO), Dr. Abraham Nwankwo has predicted a brighter economy for Nigeria with the hope that the naira and foreign exchange reserves will recover soon doe to government’s economy diversification.
Speaking on Friday at a Breakfast Meeting with Finance Correspondents Association of Nigeria (FICAN) in Lagos, Dr. Nwankwo said governments’ efforts at revalitalising the agriculture sector, solid minerals, manufacturing and taxation will have massive impact on the economy in the next three to five years.
He said that with government’s diversification project in full gear, Nigeria’s economic growth and development will no longer be determined by movement in the prices of crude oil.
He said that a lot of revenues will be derived from taxation going, adding that the country’s low comparative tax revenue to Gross Domestic Product (GDP) ratio which stands at about seven per cent, against 18 per cent average in most developing countries, would be improved on as the country begins to gain strength in production.
He said that by simply paying taxes by individuals and corporate bodies, government can secure the needed fund to fund major developmental projects.
“You can see that in the manufacturing sector, some factories are operating below capacity. But with the ongoing implementation of President Muhammadu Buhari policy on diversification of the economy and revatilising the power infrastructure, the sector will pick up and create more jobs for the people.”
Nwankwo said achieving self-sufficiency in power will enable government generate more income; companies will be able to pay more taxes, thereby helping government diversify its revenue bases.
“In the next five to seven years, solid minerals will be exported. It is possible that in the next five to seven years, the whole picture of Nigeria will be a complete turnaround because of government’s economy diversification plan. The difference between Nigerian and other countries facing similar economic challenges is that those countries do not have the same opportunities we have in Nigeria. Nigeria is near 100 per cent idle capacity, meaning the flexibility to grow the economy is high.”
He urged Nigerians not to be depressed because of drop in crude oil prices, adding: “we have no reason to be depressed just because crude oil price is down. We have to see the varieties of opportunities available for the country to grow the economy based on a well-diversified and sustainable manner. We as responsible stakeholders in the economy, should emphasise these opportunities.
“Indeed in other countries, the major source of revenue is taxation. Taxation should also be explored. Government should be able to sustain itself with taxation revenues. Now with the better tax compliance, and effective sanctions for defaulters, we have a room to boost public revenue from taxation.”
The DMO boss said that government has made significant progress in agriculture adding that in the next five to seven years, Nigeria would have reduced its reliance on imported foods, tackled unemployment and created huge jobs for the people because production is synonymous with job creation.
He said the 2016 budget focus is to address structural challenges in the economy while providing the enablement to create diversification and self-sufficiency growth.
“This is the first time that the budget specified that all borrowed funds will be for capital expenditure. The sharing of internal and international borrowing is almost 50/50. We have been borrowing locally, but we have to take advantage of the relatively low cost of funds externally. We do not want to borrow too much from the domestic economy, so that we do not crowd-out the domestic environment,” he said.
He said that given the challenges the economy is going through, much depends on what the media reports. “The media is critical, because what the media tells the international community will determine investment flows into the country. It is our responsibility to continue working hard to ensure the resilience our economy exhibited is sustained, until we achieve the turnaround that will come with diversification,” he said.
Nwankwo said the Nigeria economy is not supposed to be oil dependent given the level of natural resources abundant in the country. “We have to remind ourselves, that in the first instance, our economy was not supposed to be dependent on oil, yes, historically, oil revenues, has dorminated our foreign exchange earnings up to 90 per cent and above, and public revenue about 70 per cent, but for many years, oil has contributed less than 20 per cent to the GDP,” he said.
He said the Manufacturing, Commerce emerging sectors like Entertainment, Music, Nollywood and ICT contribute over 80 per cent to the GDP and should be supported.
FICAN Chairman, Babajide Komolafe, praised the efforts being made by the DMO to support government’s diversification effort.
He said the role of DMO in economic development cannot be over emphasized, adding that FICAN will continue to support the DMO to achieve its goals within the economy. [myad]
President Robert Mugabe of Zimbabwe has pardoned all convicted female prisoners regardless of offences, with the exception of a few serving life sentences.
“A full remission of remaining imprisonment is, hereby, granted to all female prisoners regardless of offences committed, save for those sentenced to life imprisonment and to death.”
These were contained in an amnesty published in Government Gazette No 36, general notice. 85/2016.
It is reported that Chikurubi Female Prison, which was home to 246 prisoners, released 139 inmates yesterday. Some of the prisoners were due to serve lengthy jail terms for murder, fraud and armed robbery.
Those who remained behind are inmates still on remand and a few foreigners, who will be released to their respective governments.
Mosline Chakamufuna (25), who was sentenced two weeks ago to 10 years in prison for murdering her child, was one of the beneficiaries of the presidential pardon.
She joins Adlaidy Murombo (21), who was jailed for 10 years in 2014 for attempted murder, after striking her uncle with an iron bar in the eye.
Zimbabwe Prisons and Correctional Services (ZPCS) acting public relations officer, Superintendent Priscilla Mthembo said more than 2 000 inmates were likely to benefit from the latest presidential pardon.
“We don’t have the total figure at the moment because the verification process is still going on, but we expect over 2 000 prisoners to be released under the amnesty order issued by the President,” she said.
For male prisoners, Mugabe pardoned all those who are under the age of 18 regardless of offences committed, and those over the age of 60, who have served two-thirds of their prison terms and all inmates in open prison.
Terminally-ill prisoners, who were unlikely to survive their prison terms, were fully pardoned regardless of offences.
At Chikurubi Farm Prison, there was still uncertainty, as prison officers were still compiling names of beneficiaries, particularly those jailed for stocktheft, who have served a third of their sentence.
The officer-in-charge of the male prison, Superintendent Tonderai Magwaza, said so far, he had vetted 190 prisoners, who would be released.
Male inmates convicted of murder, rape, armed robbery and treason were not part of those pardoned.
The jail, which has a holding capacity of 560 inmates, currently has 681 prisoners.
Mthembo said the amnesty had the effect of decongesting the 46 prisons around the country, which were currently overpopulated by nearly 16%.
Currently, the correctional facilities have a population of 19 900 inmates, although their total holding capacity is just 17 000. [myad]
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Governor Ifeanyi Okowa of Delta State has reminded the rampaging Niger Delta Avengers that the continued bombing of oil installations will hurt the rgion more that the federal government they are aggrieved with.
