TheNewsGuru

Tag: Nigeria

  • Nigeria loses $80bn annually to vandalism in Niger Delta – Kachikwu

    The Minister of State for Petroleum, Mr Ibe Kachikwu, has said Nigeria loses over $80bn annually due to vandalism of oil facilities in the Niger Delta.

    Kachikwu made this known in Friday in Yenagoa at the resumed dialogue with Niger Delta stakeholders as part of the visit of Acting President, Prof. Yemi Osinbajo, to Bayelsa.

    He said that no fewer than 10,000 sabotage incidents were recorded annually at oilfields across the region.

    He regretted that within the last decade, estimated 30 billion dollars revenue accrued to the Niger Delta area by way of derivation, but that the region had continued to wallow in abject poverty.

    Kachikwu urged people of the area to contribute ideas toward the resolution of crises in the zone “and add value as well as derive some gain from the natural endowments of the region’’.

    He said that the challenges of the region could be turned into opportunities when peace was achieved, and called on Niger Delta people to give peace a chance for the growth of the region.

    TheNewsGuru.com reports that the Acting President, Professor Yemi Osinbajo is currently on a working visit to the Niger Delta in continuation of peace talks with aggrieved militants in the region.

    TheNewsGuru.com reports that also on the train for the visit with the Acting President is Minister of State for Petroleum, Ibe Kachikwu, Minister of Niger Delta Affairs, Mr Usain Usain, and Minister of State for Agriculture, Sen. Heineken Lokpobiri.

  • Nigeria listed among World’s Most Powerful economies

    Nigeria has been listed among thirty two countries that will be world’s most powerful economies by the by 2030.

    The release by PricewaterhouseCoopers, one of the world’s largest professional-services firms, in its predictions for the most powerful economies in the world by 2030.

    The report, titled “The long view: how will the global economic order change by 2050?” ranked 32 countries by their projected global gross domestic product by purchasing power parity.

    PPP is used by macroeconomists to determine the economic productivity and standards of living among countries across a certain time period.

    While PwC’s findings show some of the same countries right near the top of the list in 13 years, they also have numerous economies slipping or rising massively by 2030.

    Check out which countries made the list. All numbers cited in the slides are in US dollars and at constant values (for reference, the US’s current PPP is $18.562 trillion):

    Netherlands — $1.08 trillion

    Colombia — $1.111 trillion

    South Africa — $1.148 trillion

    Vietnam — $1.303 trillion

    Bangladesh — $1.324 trillion

    Argentina — $1.342 trillion

    Poland — $1.505 trillion

    Malaysia — $1.506 trillion

    Philippines — $1.615 trillion

    Australia — $1.663 trillion

    Thailand — $1.732 trillion

    Nigeria — $1.794 trillion

    Pakistan — $1.868 trillion

    Egypt — $2.049 trillion

    Canada — $2.141 trillion

    Spain — $2.159 trillion

    Iran — $2.354 trillion

    Italy — $2.541 trillion

    South Korea — $2.651 trillion

    Saudi Arabia — $2.755 trillion

    Turkey — $2.996 trillion

    France — $3.377 trillion

    United Kingdom — $3.638 trillion

    Mexico — $3.661 trillion

    Brazil — $4.439 trillion

    Germany — $4.707 trillion

    Russia — $4.736 trillion

    Indonesia — $5.424 trillion

    Japan — $5.606 trillion

    India — $19.511 trillion

    United States — $23.475 trillion

    China — $38.008 trillion

  • Buhari is Nigeria’s stongest brand – Onyeama

    Buhari is Nigeria’s stongest brand – Onyeama

     

    The Minister of Foreign Affairs, Chief Geoffrey Onyeama, has said President Muhammadu Buhari is the ‘strongest brand’ the country currently has to improve on its credibility.

    Onyeama made this known when he addressed newsmen in Eke, Udi Local Government Area of Enugu State, on Thursday.

    According to him, the credibility of the nation has relatively improved since the inception of Buhari’s administration. He, however, said that the improvement was basically because of the reputation of the president.

    The minister said that the international community had high regards for the president whose anti-corruption posture had made impressions on them.

    “The nation’s credibility before the international community has improved but I think it is mainly because of the person of the president.

    “The international community is very impressed with the president’s records so far.

    “He has a track record of real integrity and that is why they are responding so positively to our economic, security and anti-corruption initiatives.

    “So, the strongest brand Nigeria has at the moment is President Muhammadu Buhari,” he said.

    Onyeama said that the gulf countries and other world leaders had realised that African countries needed leaders with impeccable integrity to drive development in their countries.

    The minister said that what the country needed was a peaceful revolution where the masses would become the bosses.

    He said that the All Progressives Congress (APC) had initiated such revolution as government officials were really there to work for the masses.

    “Things are difficult but the people are seeing that the government is determined to bring in full change.

    “They are seeing notwithstanding the economic difficulties that this is a government that is people-centred.

    “It is not about self-enrichment or carting away millions of money belonging to the people out of the country,” he said.

    The minister said that the current administration was after investing in the people, infrastructure and creating jobs.

    “The APC is a progressive party and many people are beginning to buy into that narrative.

    “It will be very easy for government to just go borrow money and get the country into huge amount of debt which will not be good for generations to come,” he said.

    Onyeama said that the Federal Government was making serious efforts to restructure the economy and move it away from an oil dependent one.

     

  • India moves to plant beans, peas, others in Nigeria

    India moves to plant beans, peas, others in Nigeria

    …as both countries move to sign Civil Aviation and Agriculture Agreements

    Mr Jagdeep Kapoor, Head of Chancery, High Commission of India, in Lagos, on Thursday annouced his government’s plans to encourage Nigerian farmers to plant more pulses that would be exported to India.

    Kapoor told the newsmen in Lagos that the initiative would create a source of income for Nigerian farmers, as well as ensure steady flow of the produce to India.

    The Indian Official said that the project would be a priority in India and Nigeria’s 2017 Civil Aviation and Agriculture Cooperation Agreements, which would soon be formalised by both governments.

    “Nigeria and India’s fresh areas of cooperation in 2017 would focus mostly on the signing of the Civil Aviation and Agriculture Agreements, that would soon be formalised by our two governments.

    “And as soon as this agreements are signed, we would swing into action in ensuring their immediate implementation.

    “We believe that the development of Nigeria’s agriculture sector would fast-track Nigeria’s economy into a ‘ fix quick mould’.

    “We believe that the development of Nigeria’s agricuture sector would be a quick way to fix Nigeria’s economy.We are really trying to cooperate with Nigeria in the development of her agriculture sector,’’ he said.

    The Indian official announced his government’s readiness to encourage Nigerian farmers to plant pulses(dal),that would be largely exported to India for industrial and household consumption.

    Kapoor listed such pulses to include dry beans, dry broad beans, dry peas, chickpeas, cow peas, pigeon peas, lentils, Bambara beans, vetches, lupins and pulses.

    The Head of Chancery said that there was currently a growing demand for pulses in India and that Nigerian soil was rich for planting and production of the leguminous crops.

    Kapoor said that his government would be sending some Indian farmers to Nigeria to support Nigerian farmers in the planting of the crops.

    “We are going to be encouraging Nigerian farmers to plant pulses, that are currently needed in large quantities in India. And India is a ready market for these crops today.

    “We know how much Nigerian soil is really good for the planting of these highly-needed crops in India.

    “We strongly believe that the planting of these crops in Nigeria would make Indians have more supply of pulses, generate income that would encourage more young Nigerians into planting these crops for export,’’ he added.

  • Nigeria moves up 9 places on FIFA ranking, now 41st

    The Super Eagles have moved up in FIFA’s monthly world ranking, in spite of Nigeria’s inability to qualify for the just-ended 2017 Africa Cup of Nations (AFCON) in Gabon.

    In the ranking table the world football governing body released on Thursday, Nigeria moved up nine spots to place 41st from its 50th place in January.

    This was after garnering 686 points, as against 619 it had in January.

    But in spite of the movement, the Super Eagles still remain the 7th team in Africa though there are changes in the first six places.

    The Pharaohs of Egypt (23, plus 12) are now the highest-ranked CAF team, while AFCON semi-finalists Burkina Faso (38, plus 15) placed 6th in Africa.

    Burkina Faso are behind Senegal, Cameroon, Tunisia and Congo DR respectively.

    Cameroon’s victory at the AFCON final helped them climb 29 places into 33rd position.

    TheNewsGuru.com reports that the most significant changes for the February edition of the FIFA World Ranking are by virtue of matches played at the 2017 AFCON.

    However, the aforementioned moves for teams at Gabon 2017 were not the only results from a tournament which meant positive ranking results for nations.

    Honduras (65, plus 10) and El Salvador (114, plus 24) enjoyed substantial gains, thanks to their performances at the 2017 Copa Centroamericana held from Jan. 13 to Jan. 22.

    But, in spite of the many successes from the Americas and Africa over the preceding weeks, the composition of the top five teams remains unchanged for the February ranking.

    Argentina (1), Brazil (2), Germany (3), Chile (4) and Belgium (5) hold on to their positions, while France (6, plus 1) move past Colombia (7, minus 1).

     

     

    NAN

  • Christians-Muslims forum preaches tolerance, says patriotism key to Nigeria’s survival

    Christians-Muslims forum preaches tolerance, says patriotism key to Nigeria’s survival

    Youths from the two dominant religion in the country, Christianity and Islam have called for religious tolerance among the various religious groups in Nigeria, while also urging Nigerians to pray for the country and her leaders.

    This was the resolution reached by participants at the end of a joint session of Christian/Muslim Intellectual Forum (CMIF) organized by the Centre for Social Justice, Equity and Transparency (CESJECT) in Abuja on Wednesday.

    In a Communiqué issued at the end of the conference, the participants agreed to hold an inter faith praise concert to celebrate the achievements of President Muhammadu Buhari over some of the hydra headed monsters such as terrorism and corruption which confronted the nation before his ascension to power.

    They also agreed to hold a prayer session to pray for the quick recovery of Mr. President to enable him continue his good works of rebuilding the nation.

    The Communiqué was jointly signed by Rev. Steven Onwun Chairman, Communique Drafting Committee and Alhaji Garba Shehu Secretary and Patriot Dan Enyi Member, Communique Drafting Committee.

    The seminar witnessed participants and guest speakers painstakingly dissecting the concept of religion and its applicability in the context of Nigeria and resolved on a series of actions and measures to douse the unnecessary tensions and conflicts the practice of religion often impose in the country.

    The CMIF said patriotism should instead become the new religion, emphasizing that henceforth, state interests and goals should be placed above religious inclinations of individuals.

    According to the communique, the forum recognized the Constitutional freedom of Nigerians to the right of conscience and to subscribe to any religion of their choice and worship.

    However, the participants bemoaned the frequent abuse of this liberty by some clerics and adherents and sued for restraint.

    The communique reads in part, “The forum also reviewed and described as unhealthy the sustained frosty relationship between followers of different faiths and the need for internal soul-searching by adherents of the various faiths to evolve positive measures that would stimulate cordial and friendly inter-faith interface for peace, unity and harmonious co-existence in Nigeria.

    “The young intellectuals of both faiths accepted and elected upon themselves to become vanguards and crusaders of mutual inter-faith relations in their respective communities and places of worship through enlightenment campaigns and conduct opposed to the exacerbation of religious issues/tensions throughout the country.

    “The youths of Christianity and Islam in Nigeria agreed to start action to begin a joint annual national religious feast/carnival where worshippers of both faith would intermingle to collectively beseech God Almighty in prayers, songs and dances for the peace and development of Nigeria.

    The gathering will also offer a platform for interactions, dialogues and discussions of issues/problems afflicting the practice of both religions and proffer solutions. With time, the scope could be expanded to include quarterly joint conferences and seminars to discuss emerging religious issues, affairs or trends.

    “The Muslim and Christian youths reached a consensus that henceforth matters of religion shall not reflect in our social interactions, workplace, homes and anywhere Nigerians converge. And that the practice of religion shall be perceived more as something very personal to the believer or worshipper and shall never be reason for strained relationships, unnecessary politicization and incitement to anarchy.

    “The forum also condemned in strong terms the penchant of some clerics for hate speeches; inflammatory or inciting sermons and resolved from now onwards not to tolerate preachments. Instead, preachers who undermine the essence of love, peace and unity, which are the cardinal values of all religions shall be deserted.”

    The seminar drew participants and discussants from various Faith Based Organizations (FBOs), NGOs and CSOs. It also had six guest speakers invited from various Nigerian Universities who extensively discussed the negative effects of hate speeches and religions intolerance.

  • Wrong time to leave ICC now, UN envoy tells Africa

    Wrong time to leave ICC now, UN envoy tells Africa

    The UN Special Adviser on the Prevention of Genocide, Adama Dieng, has warned African countries that withdrawing from the International Criminal Court (ICC) could have grave implications for victims seeking redress for serious human rights violations.

    Dieng, who stated this in a commentary, said the setting up of the tribunal was a “reckoning” for those who had long disregarded the lives and dignity of their people.

    The UN envoy explained that the ideals and values that inspired the creation of ICC still hold true.

    “The establishment of the Court signified a global commitment to protect victims, when national judicial mechanisms lacked the capacity, willingness or jurisdiction to prosecute those responsible for the most serious crimes,” he said.

    Highlighting the significance of the Court, Dieng said that the fact that most of the cases in the continent were submitted by African States themselves, reaffirmed their belief that it would strengthen the rule of law and respect for the fundamental rights and freedoms of the African people.

    He, however, added that in spite of the ICC’s achievements, it is increasingly coming under threat, with recent announcements by Burundi, South Africa and The Gambia to withdraw from the Rome Statute.

    “Other States have threatened to do so, if certain conditions are not met,” he said, noting that key among the concerns raised by these countries included the “lack of fairness in the prosecution decisions of the Court, perceived by some to disproportionately”.

    Drawing attention to the ongoing atrocities in Syria, Yemen, Iraq, South Sudan and in other parts of the world, he underlined that the time is not right to abandon the Court.

    “Rather, States and non-State members should reaffirm their commitment to strengthen the Rome Statute and ensure accountability for these horrendous crimes,” Dieng said.

    He appealed to African countries to work collectively to ensure that the Court could effectively administer international criminal justice without fear or favour, contribute to the fight against impunity, and promote respect for the rule of law and human rights.

    “As someone who witnessed first-hand the horrors in Rwanda, the Former Yugoslavia, Sierra Leone and elsewhere, and who has been closely involved in the delivery of international justice at the International Criminal Tribunal for Rwanda, I know too well the consequences when the international community undermines the efforts of international justice.

    “We owe it to the victims of these horrendous crimes to strengthen rather than undermine the International Criminal Court, and to reaffirm our commitment to the Rome Statute to ‘put an end to impunity for the perpetrators of these crimes and thus contribute to their prevention,” he said.

    According to him, a candid dialogue by the African countries and ICC will enhance mutual trust and cooperation.

    Since the adoption of the Rome Statute in 1998, more than half of the world’s States have joined the Court, 34 among them are African nations, the biggest regional block to date .

    In July 2017, the Court’s founding Statue will mark the 15th anniversary of its entry into force.

    NAN

  • Nigeria working towards producing solar-powered electronic voting machines – Onu

    Nigeria working towards producing solar-powered electronic voting machines – Onu

    The Minister of Science and Technology, Dr Ogbonnaya Onu, has said his ministry is working towards producing solar-powered voting electronic voting machines that would help make subsequent elections in the country free and fair to all.

    Onu stated this while defending the 2017 budget of the ministry before the Senate Committee on Science and Technology on Tuesday, in Abuja.

    The minister also noted that the application of science and technological innovation would help to solve socio-economic challenges confronting Nigeria.

    He said that the dwindling revenue to government had hampered the release of funds to handle projects initiated by the ministry.

    “When we assumed office in 2015, we met an economy that was seriously challenged in many areas.

    “However, we have worked very hard even with very lean resources, to push the economy,” he said.

    According to Onu, Nigeria has all it takes to surmount its enormous economic challenges notwithstanding the current economic situation of the country.

    He said that other achievements of the ministry in 2016 included the fact the National Council of Science and Technology that had not met for 30 years met for the first time during the period.

    “The council is working out how extra budgetary provisions can be made to fund research and innovations not just in science and technology but throughout the country.’’

    The minister disclosed that the ministry had entered into a Memorandum of Understanding with two companies, Nasco Foods Limited and May and Baker to boost the economy.

    “The ministry is also working to produce a solar-powered electronic voting machine to ensure that subsequent elections in the country were free and fair,” he said.

    In his remarks, Chairman of the committee, Senator Ajayi Boroffice, said that the budget defence was aimed at giving the ministry a fair hearing in defence of many things, particularly its level of performance.

    A member of the committee, Sen. Sam Anyanwu, queried the ministry’s overhead for 2016

    “You applied for N22 million for Information Technology Consulting and only N5 million was given while you also applied for welfare package for N20 million and the N20 million was released.

    “ So welfare is more important than information consulting which will help the ministry,” he said.

    Anyanwu, however, said that the Ministry of Science and Technology was “the only ministry that would bring Nigeria out of recession”, adding that if all agencies under the ministry were properly driven, Nigeria would boost export of commodities.

    “It is an important sector and must be given enough opportunity to perform, especially in terms of funding,” he said.

  • Nigeria will stop importing fuel by 2019 – Kachikwu

    Nigeria will stop importing fuel by 2019 – Kachikwu

    The Minister of State for Petroleum Resources, Ibe Kachikwu on Tuesday assured Nigerians that the country will stop importing fuel by 2019.

    Kachikwu made the remarks at a public hearing on the review of petroleum pricing template for Premium Motor Spirit (PMS) organised by the house of representatives.

    His words: “This has consistently served as a target for this government so that by December 2018, NNPC must be able to deliver on some of the terms given them, one of which is to reduce petroleum importation by 60 per cent,” he said.

    “By 2019, we should be able to exist completely on the importation of petroleum products in this country.

    “Cognisant of the fact that Dangote is building one refinery, we expect to have an excess situation.”

    He said Nigeria must also have the capacity to stop exporting crude oil, adding that selling crude oil is not different from selling agricultural produce in an unprocessed manner.

    “The world is leaving that, every member of OPEC is leaving that because of the prizing, volume and market challenges is now shifting from selling crude to selling refined petroleum products.

    “That is what this country must do and there is a template we are working on.

    He added that the ministry intended to create an enabling environment that would promote local refining of crude oil.

    “The issue is not giving licences to illegality, the issue is how do we ensure that we create an investment environment that pulls individuals from illegal creek activities to legal business activities,” he said.

    “We are looking at modular refineries, about 60 licences were given out just before this government came in and none of that was utilised because it requires a lot of money, land and crude security.

    “But now we are going out to identify refineries, get individuals who can build refineries on the same platforms where our refineries are and identify some key specific modular refineries backed up by foreign investments working with state governments.

    “Hopefully this will address the restiveness you see in the Niger Delta.”

    On the possibility of reducing the fuel pump price, Kachikwu said there was no padding in the petroleum pricing template for PMS currently sold at N145 per litre.

    According to him, 71 percent of the cost is for the production and freight, 18 percent balance is covered by depot charges and retailers margin.

    “In other words the storage tanks, the amount you get by verge of operating a filling station takes another 18 percent, the output of those is already taking you to roughly about 90 per cent.

    “The transportation is less than 10 percent; we probably can do better, the templating is an insignificant 1 per cent or 2 per cent but that’s not where the problem is.

    “The problem is with foreign exchange rate

    “There are two key elements in the template, how much you buy it is internationally fixed, it is not a Nigerian issue the cost of foreign exchange is a monetary policy issue.

    “So at the time we did the template the Central Bank of Nigeria (CBN) monetary policy was N245, that was the basis upon which we calculated the pricing, today N305 is the exchange rate.

    “And what we have tried to do is to ensure that anybody who sells us foreign exchange follows basically the instructions of the CBN in terms of the amount.”

     

  • Nigeria spent over N2.7trn on power from 1999-2015 without results to show – Dogara

    The Speaker of the House of Assembly, Rt. Hon. Yakubu Dogara, on Tuesday said the nation had continually spent huge sums of money on the power sector from the commencement of this democratic dispensation (1999) till date without any tangible result to show.

    Dogara said rather than improve the sector, it has always ended up even with bigger challenges.

    The Speaker noted that former administrations from 1999-2015 had spent over 2.7 trillion on the sector yet Nigerians still live in darkness.

    Dogara spoke at a workshop put together by the House of Representatives to find solution to the recurrent power failure in the country.

    His observation was part of the 23 key issues he raised at the two-day event ongoing at Transcorp Hilton Hotel in Abuja.

    TheNewsGuru.com reports that Dogara was first elected to the House in 2007 on the platform of the Peoples Democratic Party, PDP. He remained in the party until the 2015 general elections when he crossed to the All Progressives Congress, APC and was subsequently elected Speaker 2015.

    In his opening address, Dogara said, “Perhaps the most important question is what happened to the N2.74 trillion spent on the sector from 1999-2015?

    “Why is it that the more we spent on the power sector, the more darkness we attract?

    “I am confident that the array of stakeholders gathered here today are eminently capable of dealing with these and many more related questions and puzzles that exist and will arise in the course of deliberations.”