Bishop Kukah Wonders Why Nigeria Is Described As World Poverty Capital

October 4, 2019

Bishop Matthew Hassan Kukah | Credit: The Kukah Centre

The Bishop of Sokoto Catholic Diocese, Bishop Mathew Hassan Kukah has wondered why Nigeria should be described as world capital of poverty when many citizens live in opulence.

According to him, a country whose citizens spend billions of naira in organising parties for burials, birthdays and other social activities cannot be the world headquarter of poverty.

Bishop Kukah, who spoke today, October 4, as keynote speaker at the 3rd Annual Conference of the Guild of Corporate Online Publishers (GOCOP) at the Sheraton Hotel in Ikeja, Lagos, said that the problems of Nigeria’s economy started before the nation’s Independence in 1960.

He said that the colonialists did not structure the country for meaningful economic development, even as he said that the military incursion into the nation’s partisan politics after the civil war worsen the developmental challenges.

The Bishop, who said that despite the efforts of the government of President Muhammadu Buhari, things are still not working as insecurity, including kidnapping and Boko Haram insurgency, blamed the problem of lack of development to inconsistencies in government policies.

Bishop Kukah challenged politicians, especially members of the National Assembly to relinquish half of their pay and allowances to provide employment for Nigerians.

Saudi Bounces Back After Attacks, Resumes Oil Production

Editorial staff

October 4, 2019

Saudi Arabia has bounced back after drone attacks fortnight ago, resuming oil production is full force.

The country’s Minister of energy, Prince Abdulaziz Bin Salman, who made the announcement today, October 4, said that the production was restored to levels seen before the attacks on the country’s key oil installations.

Prince Abdulaziz Bin Salman who spoke at the Russia Energy Week, remarked: “we are even beyond 9.9 million barrels per day (bpd) of stabilized production capacity, we are at 11.3 million barrels per day and as we have said before by end of November we will be back up and running.”

The September 14 attacks on Saudi Aramco’s key oil-processing facilities in Abqaiq and Khurais had temporarily interrupted the supply of an estimated 5.7 million barrels of crude oil per day — around five percent of global supply — and two billion cubic feet of gas.

The US Energy Information Administration estimates that Saudi Arabia was producing 9.9 million bpd of crude oil in August.

“By our agreement with OPEC+ we should have been producing 10.3 million barrels per day, we elected to voluntarily cut our oil production to lower level than that.”

OPEC and allied producers led by Russia, a group known as OPEC+, agreed last year to cut oil supply by 1.2 million barrels per day (bpd) to support prices. The cuts came into effect on January 1.

“I want to move on… we in the energy industry in Saudi Arabia, we have got a few challenges, we have got an IPO and we want to make sure it’s a successful IPO,” Prince Abdulaziz said.

Energy leaders from across the world have convened in Moscow for a week to discuss matters ranging from the global energy outlook to challenges in the development of renewable energy.

On the second day of the Russian Energy Week, a featured panel on maintaining energy connectivity in an unstable world saw Prince Abdulaziz and Novak highlighting the future demand.

“The demand for oil will be lower in 2019 from 2018 and the growth will be 1.8 million barrels per day, last year it was 1.5 million barrels per day, and the demand is affected by the status of the global economy,” Novak said during the panel discussion.

“There are some concerns about recessionary forces that are seen, however that is a gloomy picture that’s been drawn where people are adding more fire to this sense of skepticism about the future … The only way to overcome this negative perception is a quick resolution to the trade issue,” said Prince Abdulaziz.

“By our agreement with OPEC+ we should have been producing 10.3 million barrels per day, we elected to voluntarily cut our oil production to a lower level than that,” he added.

Prince Abdulaziz on Wednesday said that the OPEC+ alliance, the group of OPEC and non-OPEC countries committed to maintaining oil supply cuts to support prices, as having gone beyond a temporary arrangement and “gone to a long-lasting relationship.”

“We have now gone beyond that temporary arrangement and gone to a long-lasting relationship between OPEC and non-OPEC countries,” Prince Abdulaziz said. “We are mindful of our responsibilities to our consumers,” he added.

“We lack predictability on the oil market and it is very difficult to make any forecasts … We need to be focused on coordination of our efforts … to make sure that the possible upcoming volatility can be mitigated by joint action,” Novak said on Wednesday.

Prince Abdulaziz started off his keynote discussion at Russia Energy Week on Wednesday by lauding the OPEC+ agreement, as well as the strategic energy alliance between Saudi Arabia and Russia.

“We are in alliance because there is a great deal of rationale in our alliance,” said Prince Abdulaziz.

Buhari Offers Advice To South African Authorities, Nigerians In That Country

Editorial staff

October 3, 2019

President Muhammadu Buhari has advised the authorities in South Africa to be proactive in detecting early signs of violence between the citizens of that country and people from other countries.
The Nigerian leader, who along with his South African counterpart, Cyril Ramaphosa, spoke to news men today, October 3 in Pretoria, South Africa, also advised migrants and companies operating In that country to adhere to the local laws.
“Police must be on alert not to allow violence to escalate.”
President Buhari said thatthe business world had turned out more dynamic over the years, with foreigners competing with locals in businesses that were initially considered low.
He said thatthe panacea would only be for security agencies to show more interest in market operations, players and likely areas of tensions.
The President likened the situation of Nigerians in South Africa to Ghana where competition at low levels of the economy breeds intense competition, noting that it will keep growing with population explosion.
The President told Nigerians living in various parts of the world, especially in South Africa, to adhere with the laws of the country they reside, and ensure compliance with market laws.
“Like it is said, ‘when you are in Rome behave like the Romans’. Always be law abiding.”
Earlier in his remark, the President condemned attacks on Nigerians and the burning of their properties in South Africa, describing it as “unacceptable’’, while assuring the South African government that their citizens and businesses in Nigeria will always be protected from harm. He also condemned the reprisal attacks in Nigeria.
“In my discussions with President Ramaphosa and the Bi-National Commission meeting, we reviewed wide range of issues at national, regional, continental and global levels.”
He said some of the issues were on trade, investment, mining, security, police affairs and environment. “Our two countries have also agreed to unequivocally address the challenges in our relations including the recent people to people challenges that saw attacks against foreign nationals, including Nigerians, and their properties, which we strongly condemned.’’
In his remarks, President Ramaphosa said the attacks on foreigners in South Africa, including Nigerians, were regrettable, assuring that his government will work hard to see an end to such attacks. He also condemned reprisal attacks in Nigeria.
He said President Buhari is the first president to embark on a state visit in South Africa since they came into power.
“We will work together to promote cohesion and best values. What happened did not reflect our values. We both condemn the attacks and the reprisal in strongest terms. We will set up mechanisms for early signals”.
President Ramaphosa said his country will also create a more enabling environment for Nigerian businesses to thrive in South Africa, acknowledging that more South African companies operate in Nigeria, while Nigerians were mostly in Small and Medium Scale sectors in his country.
“We have large corporations operating in Nigeria while you have small and medium enterprises from Nigeria here in South Africa.” He promised to deepen the reforms in his country to open the space for more Nigerian business to “address the imbalance.
“The rule of law must be obeyed by all citizens. Nigerians in South Africa must obey the rule of law, while South Africans in Nigeria must obey the rule of law.”
Nigerian Minister of Foreign Affairs, Geoffrey Onyeama and South African Minister of International Relations and Cooperation, Dr Naledi Pandor, signed agreements on the minutes of the 9th session of Bi-National Commission.

As Buhari Prepares To Present 2020 Budget, Senate Increases It To N10.729 Trillion

Editorial staff

October 3, 2019

File photo of PRESIDENT MUHAMMADU BUHARI (L), PRESENTING THE 2016 APPROPRATION BILL TO A JOINT SESSION OF THE NATIONAL ASSEMBLY IN ABUJA ON TUESDAY (22/12/15).

It has been confirmed that President Muhammadu Buhari will, on October 8, present to the joint session of the National Association, the 2020 budget, even as the Senate increased the yet to be presented budget from N10.002 trillion to N10.729.4 trillion.
The Senate also increased the oil benchmark from $55 per barrel to $57 per barrel, representing a $2 increase.he Senate on Thursday passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted to it by President Muhammadu Buhari last week.
The Senate, acting on the report of the Senator Solomon Adeola-led Senate Committee on Finance.
The upper chamber
The Senate also increased the 2020 revenue target by the Nigeria Customs Service (NCS) by N557.4billion, that is, from N942.6 billion to N1.5trillion.
It however retained the exchange rate at N305 per dollar and oil production benchmark at 2.18mbpd as proposed in the MTEF/FSP by the executive.
The Committee also recommended the adoption of N1.5 trillion as the amount for new borrowing by the Federal Government in 2020, as a result of reduction of N200 billion which was sourced from the increase of revenue target of the Nigeria Custom Service.
The Committee further called for an urgent review and amendment to the Fiscal Responsibility Act (FRA Act) and the various laws of the revenue generating agencies to align with current realities.
This information form part of the recommendations of the National Assembly Joint Committee on Finance report on 2020-2022 MTEF/FSP which was considered by the Senate in Abuja today, October 3.
The Committee’s recommendations which were approved by the Senate are as follows:
“Following intensive engagement with NNPC and relevant information obtained during the session, the Committee recommends the adoption of 2.18mbpd as daily production output in 2020. In view of concerted effort by NNPC and security agencies the menaces of oil theft and vandalization, the 2.18mbpd would be realizable.
“The Committee recommends the adoption of $57/barrel as crude oil benchmark price for the fiscal ear 2020.
“The revenue target of Nigeria Customs Service (NCS) of N942.6 billion for 2020 should be increased to N1.5 trillion, as a result of the performance of NSC in last 9 months with 3 months still outstanding.
“The NCS revenue as at September stood at N1 trillion against the budget figure of N969. 8 billion for the year 2019. The Joint Committee commends the NCS for exceeding the targeted revenue despite the global economic challenges and closure of the Nigerian boarders.
“The sum of N557.4 billion from the revenue increment of NCS be used to reduce borrowing by N200 billion and increase capital expenditure thereby decreasing the size of the budget deficit from N1.7 trillion to N1.5 trillion and also increase the total capital available to MDA by N357 billion, from N1.01 trillion to N1.367 triilion.
“The exchange rate of N305/$ should be maintained for economic stability. While more work should done by the Honourable Minister of Finance and all economic advisers and her team on improving the economic growth by increasing the GDP and reducing the inflation rate to single digit.
“The saving on income accruing from the increase of the benchmark amounting to N172 billion which represent the Federal government potion of the $2 added to the benchmark be used to pay salaries and emolument of the proposed 30,000 new employees.
“Proper investigation be carried out on the e-collection stamp duties domicile with Central Bank of Nigeria for the past years so as to show probity and accountability and of course increase the revenue base of the country.
“Immediate amendment of the National Assembly Act on Production sharing Contracts (PSC) with lOCs. Proper investigation be carried out on NNPC so as to ascertain the actual cost associated with the Joint Venture agreements.
“More Government Owned Enterprises budget be added to the nation’s budget to ensure proper checks and balances among all Federal Government agencies.
“Debt Management office (DMO) should put more efforts and strategies in managing the foreign and local debts.
“Total estimated expenditure of the Federal Government should be increased from N10.002 trillion to N10,729.4trillion.
“National Assembly should expedite action on the passage of the finance bill which will be brought along with the National Budget into Law for easy implementation of the 2020 budget, most especially in the area of VAT.
“The Committee calls for an urgent review/amendment to the FRA Act and the various Laws of the revenue generating agencies to align with current realities.
“The Committee recommends earmarking 1% of the Consolidated Revenue Fund to finance the Basic Healthcare Provision Fund to be classified as Statutory Transfer.
“The Committee recommends the adoption of N1.5 trillion as the amount for New Borrowing as a result of reduction of N200 billion which was sourced from the increase of revenue target of the Nigeria Custom Service.
“However borrowing must be project tied. ln borrowing more government must remain focused and ensure that it used to fund critical projects that will increase productivity and contribute to finance financing such debt.”

Guild Of Corporate Online Publishers Return Dotun Oladipo As President

Editorial staff

October 3, 2019

Publisher of The Eagle Online has been re-elected as the President of Guild of Corporate Online Publishers, GOCOP. He was returned unopposed at the Guild’s annual general meeting today, October 3 in Lagos through affirmation alongside other members of the executive committee who were first elected in 2017.
Other officers re-elected are Maureen Chigbo, Publisher of Real News Magazine (Deputy President); Danlami Nmodu, Publisher of Newsdiaryonline (General Secretary); Collins Edomoruse, Publisher of Metrowatch Online (Deputy General Secretary); Olumide Iyanda, Publisher of QED (Publicity Secretary); Segun Adeleye, Publisher of World Stage Online (Financial Secretary) and Janet Mba Afolabi, Publisher of Scroll Magazine as Treasurer.
The election of the new executive committee for another two-year term (2019 – 2021) was superintended by Ken Ugbechie, Publisher of The Economist and assisted by Akeem Oyetunji, Publisher of Prompt News Online.
The new executive will be sworn in tomorrow, October 4, during the Third Annual Conference of GOCOP, holding at Sheraton Hotel, Ikeja, Lagos.

Nigeria Set To Clash With South Africa Again

Editorial staff

October 2, 2019

Nigeria and South Africa will clash once again, this time in the 2020 Tokyo Olympic Games qualifying tournament.

The two rival countries have been placed in Group B for the November 8-22 championship in the draw that was made today, October 2 in Egyptian city Alexandria. They are in the same group with Ivory Coast and Zambia, while Group A comprises hosts Egypt, Mali, Cameroon and Ghana.

Teams are restricted to Under-23 footballers and the finalists and the winners of the third-place play-off will represent Africa in Japan, where teams can use three ‘over-age’ players.

Nigeria have won gold (1996) and silver (2008) at Olympic football tournaments, Cameroon gold (2000) and Ghana bronze (1992).

South Africa and Nigeria stood out during a three-round qualifying competition for the tournament in Egypt, with all matches scheduled for Cairo.

The South Africans twice scored three goals against Angola and banged five past Zimbabwe in Soweto as they chase a second successive appearance at the Olympics.

Although lacking Samuel Chukwueze and Victor Osimhen, who were on senior national team duty, Nigeria crushed Sudan 5-0 last month after losing the first leg by a solitary goal.

The tournament doubles as the Africa U23 Cup of Nations and the previous two editions were won by Gabon (2011) in Morocco and Nigeria (2015) in Senegal.

Draw

Group A

Egypt (hosts), Mali, Cameroon, Ghana

Group B

Nigeria, Ivory Coast, South Africa, Zambia

Edo Gov Sacks All His Special Assistants, Others

Editorial staff

October 2, 2019

Edo State Governor, Godwin Obaseki, has sacked all his special assistants and senior special assistants.

The sack, which is to take immediate effect, was contained in a letter signed by Secretary to the State Government, Osarodion Ogie.

The SSG said that the governor’s action was in line with efforts to reorganise governance structure to enhance efficient service delivery to Edo people.

He asked the sacked appointees to hand over government properties in their possession. He added that fresh appointments would be announced within 30 days.

Obaseki had appointed 192 special assistants representing each ward in the state and 54 senior special assistants comprising three persons from each local government area.

The governor had also appointed 18 special assistants (females) on gender.

Kogi Guber: SDP Challenges INEC In Court For Disqualifying Its Candidate

Editorial staff

October 2, 2019

The Social Democratic Party (SDP) has gone to court to challenge the Independent National Electoral Commission (INEC) for disqualifying its candidate, Natasha Akpoti from the November governorship election in Kogi State.

The National Chairman of the party, Professor Tunde Adeniran, who spoke to news men today, Wednesday in Abuja, faulted the claim by INEC that Natasha Akpoti’s running mate is under aged for which reason it disqualified the party from contesting the election.

He described such claim as “unwarranted insult, falsification of information and misrepresentation of our party.”

He said that the deputy governorship candidate of the party is not a product of the party’s primary but a nomination of the‘governorship candidate, and that she has the prerogative to change or withdraw this candidate.

“Why was Natasha refused this right?

“There have been growing insinuations and suspicious that the actions of INEC to clamp down on our candidate, Natasha Akpoti, might be linked to influence, manipulations and interests outside of INEC itself. Why is INEC allowing itself to be influenced by other interests in the case of Natasha? Why did the INEC’s spokesman have to lie against SDP on television?

“This unwarranted disqualification action by INEC has further called to question the integrity and credibility of democratic institutions in Nigeria. Why would INEC be ready to undermine or dent the system because of Natasha?

“In conclusion, the SDP has resorted to court action to seek justice and we enjoin Kogi electorate and the teeming supporters of Barrister Akpoti to keep faith because we will overcome. We will get justice and our Natasha will certainly be on the ballot in November 16, governorship election. She will be voted for massively and she will win the election.”

INEC’s National Commissioner and Spokesma, Festus Okoye had, on a television programme, said that the leadership of SDP accepted that the party would not be included on the ballot for the contest because it fielded an underage deputy candidate.

Kwara Governor Hails Corporate Online Publishers For 3rd Annual Confab

Editorial staff

October 2, 2019

Governor AbdulRahman AbdulRazaq of Kwara State has hailed the Guild of Corporate Online Publishers (GOCOP) for the consistency in holding annual conference, with the third coming up on Friday, October 4 at Sheraton Hotel, Ikeja, Lagos.

In a goodwill message today, October 2 to the association through his Chief Press Secretary, Rafiu Ajakaye, the governor said he is proud to associate with GOCOP.

“My government is proud to associate with this organisation for reasons that include your member-groups’ oft-stated commitment to the ethics of journalism and deliberate effort to ensure that national security and peace are major considerations in your work.

Governor AbdulRazaq, who also hailed the choice of the conference theme: “Economy, Security and National Development,” noted that the conference has stood GOCOP out from the crowd of anything-goes online media “at a time our country is faced with enormous challenges arising from the misuse and abuse of the freedom that comes with the internet/social media. Of particular concern is the menace of fake news, impersonation, and distortion of government’s communication.

“In less than a week ago, our administration has had a taste of the evil of fake news, with some mischief makers putting out statements purportedly emanating from the government with the agenda of misleading the public, causing tension in the state, and exposing the government to public ridicule.

“While the majority of Kwarans have come to know how to spot such fake news, especially because we have always been truthful to them, the development remains a threat to public peace and national development.

“It is against this background that I urge GOCOP and other professional online publishers to join whatever efforts designed to checkmate a trend that is itself a threat to ethical journalism which the likes of COGOP, Nigerian Union of Journalists (NUJ), Nigerian Guild of Editors (NGE) and other professional bodies stand for.”

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