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Tag: may

  • South Africa: Former president, Zuma excluded from May elections

    South Africa: Former president, Zuma excluded from May elections

    South Africa’s electoral commission has revealed that it has excluded former president Jacob Zuma from standing in the May 29 general election.

    “In the case of former president Zuma, yes, we did receive an objection, which has been upheld,” commission president Mosotho Moepya told reporters, without giving details.

    “The party that has nominated him has been informed” as have those objecting to the move, he added.

    The decision can be appealed if lodged before April 2.

    According to the electoral commission’s statement,   “any person who was convicted of an offence and sentenced to more than 12 months imprisonment without the option of a fine” cannot stand in an election.

    It would be recalled that Zuma, 81, was forced out of office in 2018 under a cloud of corruption allegations.

    He is campaigning for the opposition uMkhonto we Sizwe (MK) party in an attempt to relaunch his career and weaken his former party, the ruling African National Congress (ANC).

    The general election, after which the victor will appoint a president, is set to be tense.

    The ANC is on the brink of dropping below 50 per cent of the vote for the first time since it came to power at the end of apartheid.

    That would force the party once led by Nelson Mandela to form a coalition to stay in office.

    The ANC is bleeding support amid a weak economy and allegations of corruption and mismanagement.

    Zuma was sentenced to 15 months in jail in June 2021 after refusing to testify to a panel probing financial corruption and cronyism under his presidency.

    Besides his 2021 contempt conviction, he is facing separate charges of corruption in an arms procurement scandal in the 1990s, when he was vice president.

  • Nigeria’s inflation rate jump to 22.41% in May

    Nigeria’s inflation rate jump to 22.41% in May

    Nigeria inflation rate jumped up to 22.41 percent in May 2023, according to Nigeria’s consumer price index (CPI), which measures the rate of change in prices of goods and services in the country.

    The inflation rate increased from 22.22 percent in the previous month to 22.41 percent.

    The country’s May inflation data is contained in the latest CPI report released on Thursday by the National Bureau of Statistics (NBS).

    The latest figure is the fifth consecutive rise in the country’s inflation rate this year, as Nigerians adjust to the effects of the recent petrol subsidy removal.

    According to the NBS report, “in May 2023, the headline inflation rate increased to 22.41 percent relative to April 2023 headline inflation rate which was 22.22 percent”.

    “Looking at the movement, the May 2023 inflation rate showed an increase of 0.19 percentage points when compared to April 2023 headline inflation rate,” NBS said.

    “Similarly, on a year-on-year basis, the headline inflation rate was 4.70 percentage points higher compared to the rate recorded in May 2022, which was (17.71 percent).

    “This shows that the headline inflation rate (year-on-year basis) increased in the month of May 2023 when compared to the same month in the preceding year (i.e., May 2022).

    “Likewise, on a month-on-month basis, the headline inflation rate in May 2023 was 1.94 percent, which was 0.03 percent higher than the rate recorded in April 2023 (1.91 percent).”

    The NBS said in the month of May 2023, the average general price level was 0.03 percent higher relative to April 2023.

    According to NBS, the food inflation rate in May 2023 was 24.82 percent on a year-on-year basis. This is 5.33 percent points higher compared to what was recorded in May 2022 (19.50 percent).

    The statistics body said the rise in food inflation was caused by increases in prices of oil and fat, yam and other tubers, bread and cereals, fish, potatoes, fruits, meat, vegetable, spirit.

    “On a month-on-month basis, the food inflation rate in May 2023, was 2.19 percent, this was 0.06 percent higher compared to the rate recorded in April 2023 (2.13 perecent),” the report said.

    “The average annual rate of food inflation for the twelve-months ending May 2023 over the previous twelve-month average was 23.65 percent, which was 4.97 percent points increase from the average annual rate of change recorded in May 2022 (18.68 percent).

    “On a year-on-year basis food inflation was highest in Ondo (25.84 percent), Kogi (25.70 percent), Rivers (25.02 percent); while Taraba (19.55 percent), Sokoto (19.56 percent), and Plateau (19.89 percent) recorded the slowest rise in headline inflation.”

     

     

  • [BREAKING] May Day celebrations: FG declares May 1st public holiday

    [BREAKING] May Day celebrations: FG declares May 1st public holiday

    The Federal Government has declared Monday, May 1 as Public Holiday to mark this year’s Workers’ Day celebration.

    Dr Shuaib Belgore, Permanent Secretary of Ministry of Interior disclosed this in a statement issued Friday in Abuja stating that the Minister of Interior, Ogbeni Rauf Aregbesola, made the declaration on behalf of the Federal Government.

    The Perm Sec congratulated workers across the country on this year’s celebration, Aregbesola commended workers for their hard work, diligence and sacrifice, noting that their efforts are largely responsible for the greatness of the country and the respect Nigeria now commands in the comity of nations.

    He said; “There is dignity in labour, we have to have dedication and commitment to the work we do because it is vital to nation building”.

    He therefore enjoined workers to imbibe the culture of productivity, saying “the end of work is productivity. It is productivity that leads to satisfactory provision of goods and services and wealth creation. It is therefore the path to national and individual prosperity”.
    The Minister urged workers to raise the bar of their trade in line with the President Muhammadu Buhari led administration’s drive to upgrade the vehicle of governance and make all the people of Nigeria derive maximum benefit from the nation.

    He assured Nigerians that the administration of President Muhammadu Buhari is fully committed to the security of life and property of every citizen and foreigners in the country and will not slowdown in any even as the administration winds down.

    “The Minister commends all security agencies for the successes recorded in the fight against criminals across the country, he encouraged them not to relent but go all out to deter the criminals whenever they raise their heads.

    “He therefore urges Nigerians to be part of the nation’s security architecture by being vigilant and reporting suspicious individuals and activities to law enforcement agencies nearest to them, noting that security is everybody’s responsibility He urges them also to make use of the N-Alert Application on Android and iOS”, the statement added.

  • What I told some Barca players in May – Xavi

    What I told some Barca players in May – Xavi

    Barcelona coach Xavi says several players have been encouraged to leave this summer.

    Xavi knows that he needs to lighten his squad this summer, particularly with new signings needing to be registered, and as a result he left a number of first-team players out of his pre-season squad tour, making it clear that they had to find new clubs.

    “They haven’t been cast aside,” Xavi said. “They’re first-team players and they trained with us before the tour.

    “But I was clear with them all in May. They’re looking for solutions now, and we’re trying to help them so that they can play football.

    “They know it will be impossible for them to play with Barcelona, so they have to find a solution to find somewhere to play.”

  • FG, States, LGs share N605.95bn in May

    FG, States, LGs share N605.95bn in May

    The Federal Accounts Allocation Committee (FAAC) on Wednesday said it shared a total of N605.958 billion as May 2021 revenue to the Federal, States and Local Governments as well as other relevant agencies.

    Mr Charles Nwodo, Director, Information, Ministry of Finance, Budget and National Planning, in a statement in Abuja, said the amount was shared during a virtual conference of the committee.

    The committee, in a communique, noted that the N605.958 billion shared included cost of collection to the Nigeria Customs Service (NCS), Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service (FIRS).

    The committee also stated that the Federal Government received N242.120 billion, the states got N194.195 billion while the LGs received N143.742 billion.

    It added that the oil producing states received N26.901 billion as derivation (13 per cent of mineral revenue).

    According to the committee, the Gross Revenue available from the Value Added Tax (VAT) for May 2021 was N181.078 billion as against N176.710 billion distributed in the preceding month of April 2021.

    This resulted in an increase of N4.368 billion.

    It said: “The distribution is as follows; Federal Government got N25.260 billion, the States received N84.202 billion, and Local Government Councils got N58.941 billion.

    “The distributed Statutory Revenue of N428.198 billion received for the month was lower than the N497.385 billion received for the previous month by N69.197 billion, from which the Federal Government received N175.541 billion, States got N89.037 billion, LGs got N69.644 billion, and Derivation (13 per cent Mineral Revenue) got N24.666 billion.”

    The committee also revealed that Companies Income Tax (CIT), and Oil and Gas Royalties, Import and Excise Duty recorded decreases, while only VAT increased, although, marginally.

    It said the total revenue distributable for the current month was inclusive of Gross Statutory Revenue of N357.888 billion, VAT of N168.403 billion, Solid Mineral Revenue of N7.940 billion, Exchange Gain of N1.727 billion and an augmentation from Non-Oil of N50 billion and N20 billion.

    The committee said this brought the total distributable revenue to N605.958 billion.

  • IPOB shifts sit-at-home order to May 31

    IPOB shifts sit-at-home order to May 31

    The proscribed Indigenous People of Biafra (IPOB) has shifted the May 30 sit-at-home order to May 31.

    The group said the shift of date followed genuine observations about its earlier directive as many of its people observed Sundays as day of worship

    In a statement by the Media and Publicity Secretary Emma Powerful, IPOB however said a partial observation of the Biafra Day would still hold on May 30 but insisted total lockdown and sit-at-home to the following day.

    It advised parents not to send their children to school on that day as no one was expected to be seen outside just as it enjoined motorcycle and tricycles organisations to withdraw from roads on that day.

    The statement reads: “We, the Indigenous People of Biafra (IPOB) ably led by our great and indomitable leader, Mazi Nnamdi Kanu, wish to announce that this year’s Biafra Remembrance Day sit-at-home will now hold on Monday, May 31, and not Sunday, May 30 as earlier directed.

    “The modification is following genuine observations about our earlier directive as many of our people observe Sundays as a day of worship.

    “There will be partial observation of the Biafra Day on May 30th. But there will be a total lockdown and sit-at-home on Monday 31st of May.

    “We therefore, expect Biafrans all over the world to stay indoors on May 31 for the respect and honor of our fallen heroes and heroines who paid the Supreme price for us to live.

    “It is our right to remember them for defending the genocidal attacks given to our people between 1967 and 1970 by Fulani Jihadists supported by British government.

    “Consequently, all commercial activities must be shut down on 31st of May throughout the land of Biafra. There should be no vehicular movement on that day on Biafra roads. Transport companies must withdraw from the road on that day.

    “National Union of Road Transport Workers (NURTW); National Associations of Road Transport Owners (NURTO); and others are expected to fully comply with this directive.

    “In the same vein, artisans and traders must close shop on that day. Airports, Seaports, Banks and financial institutions should all shut down in honour of our fallen heroes and heroines.

    “Okada and Tricycles organizations are also advised to withdraw from roads on that day. There shall be no social gatherings or events including burials, weddings on that day from 6am to 6pm.

    “Parents are advised not to send their children to school on that day as no one is expected to be seen outside. Full compliance is expected from all.

    “Biafrans in Diaspora are to hold peaceful rallies in their countries of abode.”

  • Why we can’t increase electricity tariff in May – Minister

    Why we can’t increase electricity tariff in May – Minister

    The Minister of Power, Engr. Sale Mamman, has dismissed rumours of a major hike in electricity tariff, clarifying there is no plan to significantly raise tariff.

    In a statement in Abuja, the Minister said instead of significant hike in electricity tariff, Nigerians should expect an increase efficiency in the sector to reduce tariffs while managing headwinds from foreign exchange and inflation.

    The clarification came amidst reports of possible major increase in the price of electricity that has dominated the public space.

    Mamman explained the order issued by NERC on the 26th of April 2021 titled “Notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies” was a routine procedure.

    He said the review planned by NERC is in accordance with Section 76 of the Electric Power Sector Reform Act of 2005.

    According to him: “The tariff for customers on service bands D & E (customers being served less than an average of 12hrs of supply per day over a period of one month) remains subsidized in line with the policy direction of the Federal Government”.

    The Minister said Section 76 of the Electric Power Sector Reform Act of 2005 provides clear guidelines for the periodic review of tariff (based on market data and submissions from licensees).

    The guidelines include the provision that the Commission shall give notice of activities related to tariff “in the Official Gazette, and in one or more newspapers”.

    “The Multi-Year Tariff Order (MYTO) per NERCs regulation obtains inputs from operators in the market every 6 months to perform minor reviews and a major review is required every 5 years. Thus, as in January a minor review will occur in June. Given the timing for the Extraordinary review has also elapsed, a review will occur for consideration in January 2021,’ the statement said.

    Mamman said the Buhari administration remained faithful to the adopted resolutions from the Joint FGN-NLC/TUC Technical Committee on Electricity Tariffs which makes recommended for “NERC to conduct an extraordinary review of the MYTO to further review factors and align them with current evolving realities.”

    The reason this recommendation was posited by the Committee was to ensure that efficiencies could be derived from an extraordinary review to further reduce tariff.

  • NNPC calms nerves, says no increase in petrol price in May

    NNPC calms nerves, says no increase in petrol price in May

    The Nigerian National Petroleum corporation (NNPC) says it will not increase the ex- depot price of Premium Motor spirit also known as petrol in May.

    The Group Managing Director, Malam Mele Kyari, made this known at the end of a closed door meeting with Petroleum Transport Drivers (PTD), National Association of Road Transporters Owners (NARTO) and oil marketers in Abuja on Monday.

    TheNewsGuru.com, TNG reports that ex-depot price is the price marketers buy products from depot owners; it determines the pump price at filling stations.

    Meanwhile, queues resurfaced in most filling stations around the Federal Capital Territory with visibility of black marketers along the major highways.

    “We want to inform oil marketing companies that NNPC will not increase the pump price of PMS in May.

    “I am giving the assurance and I ask Nigerians to go about their normal businesses; we have over 20 billion litres of petrol in our custody.

    “Many of you are aware of this and with the assurance with tanker drivers and NUPENG, there is no need for panic buying of the product.

    “Petrol will be available in all the depots in the country including NNPC dispatched depot across the country, so nobody should panic in buying the product,” he said.

    On the strike by PTD, he said the strike was associated with NARTO’s inability to increase their compensation which was not resolved last week.

    “We have given commitment to both NARTO and PTD that we will resolve the issue within a week and come back to the table to have a total closure on the issue.

    “We also have a robust engagement with our oil marketing partners in respect of increase in the volume product that is check in the Nigerian market.

    “We have agreed to work jointly with all the security agencies to contain any possible infractions seen in our borders.

    “We will work as a team to curtail this fraudulent practice with the help of the security agencies,” he added.

    He added that the meeting also discussed issues on payment by Petroleum Equalisation Fund (PEF) to oil marketing companies.

    He said that all stakeholders agreed in making PMS available to marketers.

    Alhaji Yusuf Orthman, NARTO President, commended the NNPC for the intervention and assured that within the next seven days, things will normalise in the adjustment of allowances of PTD.

    “We have requested that they bring three persons so that we discuss the issues but that would not have been possible without this intervention.

    “We hope that within the next seven days things will normalise and I want to assure Nigerians that we are committed to it,” he said.

    Also, PTD president said that the strike has been suspended until the next seven days

    He commended the NNPC and all the stakeholders for their quick intervention.

    “We believe that the condition of service of tanker drivers and others need to be improved and we believe that everything will be resolved as discussed,” he said.

  • PMI: Nigeria’s manufacturing sector records first growth since May

    PMI: Nigeria’s manufacturing sector records first growth since May

    The October Purchasing Managers’ Index for the manufacturing sector stood at 49.4 index points, indicating a reversal of five consecutive months of contraction which started in May.

    This is according to the result of PMI survey released by the Statistics Department of Central Bank of Nigeria (CBN) on Tuesday.

    The manufacturing PMI for the month of September was 46.9 index points.

    The survey revealed that of the 14 subsectors surveyed, six recorded expansion above 50 per cent threshold.

    Subsectors that reported expansion were electrical equipment, transportation, equipment, printing and related support activities, chemical and pharmaceutical products, textile, apparel and footwear, as well as cement.

    The remaining eight subsectors reported contraction.

    They are primary metal, petroleum and coal product, paper products, fabricate metal products, furniture and related products, nonmetallic mineral products, plastic and rubber products and food, beverage and tobacco products.

    The survey indicated that in employment level in the review month two subsectors recorded stationary level of employment while the remaining nine subsectors recorded lower employment levels.

    PMI for the non-manufacturing sector, however, stood at 46.8 points in October 2020, indicating contraction in nonmanufacturing PMI for the seventh consecutive month.

    The survey stated, “of the 17 sub-sectors surveyed, three subsectors reported growth in the following order: electricity, gas, steam and air conditioning supply, art, entertainment and recreation and Health care and social assistance.

    “ Eleven subsectors reported declines in the following order: management of companies; utilities; Information and communication; construction; professional, scientific, and technical services; repair, maintenance/washing of Motor Vehicles.’’

    Other declining subsectors are wholesale/retail trade; educational services; transportation and warehousing; accommodation and food services and real estate rental and leasing.

  • Nigeria met only 19% OPEC+ cut compliance in May – Survey

    Nigeria met only 19% OPEC+ cut compliance in May – Survey

    Nigeria met only 19 percent of its promised reduction in line with the Organisation of the Petroleum Exporting Countries (OPEC) agreed cuts for the month of May 2020.

    OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut. OPEC and its allies in April agreed to cut supply by a record 9.7 million bpd from May 1 in order to lift slump in demand and prices caused by the coronavirus crisis.

    In a survey carried out by Reuters over the weekend, it was discovered that Nigeria, alongside Iraq, did not fully comply with their share of the reduction.

    On average, the 13-member OPEC pumped 24.8 million barrels per day in the month of May, compared with 30.71 million barrels per day in April.

    In the month of May, they delivered 4.48 million barrels per day of the pledged reduction, equal to 74 percent compliance, the survey found.

    May’s output was the lowest by OPEC since 2002, excluding membership changes since then, the survey records show.

    Providing a breakdown, the biggest drop in supply came from Saudi Arabia, which pumped a record 11.7 million barrels in April. Saudi’s supply is expected to drop even further in June after it agreed to cut one million barrels per day

    The United Arab Emirates and Kuwait also cut back sharply, sources in the survey said. Both had also pumped at record rates in April.

    The sharp cuts in May, however, are watered down by the fact that several OPEC members, including Kuwait, the UAE, and Saudi Arabia, produced record-high volumes in April, which flooded the market in the face of a demand plunge.

    For May, Iraq reached just 38 percent compliance with its promised cuts, continuing a trend it also had in 2019.

    Venezuela and Iran reduced output in May, while Libyan supply was steady. All three were exempt from voluntary cuts because of US sanctions or internal issues limiting production.

    Iran is seeing a drop in fuel use because of the coronavirus outbreak, compounding the impact of sanctions on supply. Venezuela, contending with both US sanctions and a long-term decline in output, posted another drop in exports.

    Oil output in Libya has plunged since January 18 due to a blockade of ports and fields by groups loyal to eastern-based commander, Khalifa Haftar. Production averaged 100,000 barrels per day in May, the survey found.