Sabinews Daily Morning News Update for November 19, 2014
National News
Latest Adamawa Village Attack: 10 Soldiers, Scores of Insurgents Killed
As the Boko Haram insurgents continue to extend their operations through suicide bombers, some residents have now resorted to jungle justice for bombers who get caught.
A man reportedly trying to plant explosives at the central motor park in Gombe, Gombe State, was set on fire after an angry mob piled used tires on him. Read more
Kokori: Hoodlums turn against parents, loot, rape
Rape, looting and intimidation have become the talk of town in embattled Kokori community of Ethiope East Local Government Area of Delta State.
This is because cohorts of the arrested notorious kidnap kingpin, Kelvin Oniarah, have turned the community into a jungle of some sort. Read more
FG owes Lagos N51bn road rehabilitation funds —Commissioner
The Lagos State Commissioner for Works and Infrastructure, Dr Obafemi Hamzat, has indicated that the Federal Government owes the Lagos State government N51 billion which is money used mostly for the rehabilitation of federal roads in the state over the years.
The commissioner made this known during a media platform in Lagos, monitored by the Nigerian Tribune, where he insisted that the state government had taken the step because of the need to reduce the sufferings of Lagosians, who, he said, deserved good roads, whether such belonged to the state or Federal Government. Read more
Boko Haram fuelled by desperate politicians —Anyaoku
Former Secretary-General of Commonwealth, Chief Emeka Anyaoku, has disclosed that Nigeria as country is in deep crisis and insecurity as a result of desperation for political power by so call leaders.
Anyaoku, who also carpeted both Christian and Muslim group as the major contributory factor to Boko Haram in the country stated this, while speaking on Tuesday, at a the two-day National Retreat on Human Security in Abuja, organised by National Orientation Agency (NOA), with the theme: “Mainstreaming human security.” Read more
FG doles out N215.5m to filmmakers
Twenty six filmmakers, who applied for the film intervention fund grant made available by President Goodluck Jonathan under the Project ACT Nollywood, knew their fate Tuesday, as they were called to Abuja for the presentation of the grants.
Although sources say the monies will take two weeks to clear, the filmmakers got between N15million and N2million, depending on the magnitude of the film project they proposed. Read more
FDI: Jonathan Scores Self Highest in Nigeria’s History
President Goodluck Jonathan yesterday described himself as one of Nigeria’s leaders that will go down in history to have deliberately pulled the highest level of Foreign Direct Investment (FDI) into the country since independence.
“Under my administration Nigeria has recorded the highest levels of foreign direct investment in our history, and this is a testament, not only in the size of our domestic market, but to a liberalised and market driven economy that is open for all serious and honest business people.” the president said. Read more
70% Jigawa people excluded from formal financial service —CBN
About 70 per cent of adults in Jigawa State are excluded from formal financial service, according to a data available at the office of the Central Bank of Nigeria (CBN).
This was disclosed by the Head of Financial Induction Strategy Coordination Office, Financial Induction Secretariat, CBN, Mr Joseph Attah, while presenting a paper in a day sensitisation workshop on National Finance Inclusion Strategy (NFIS), organised by the CBN for financial institutions and pension administrators in Dutse, the state capital. Read more
Delta Declares Free Interest for Beneficiaries of CBN N2bn MSME Funds
Delta State government said it will pay N90 million to offset the nine per cent interest rate of the Central Bank of Nigeria (CBN) N2 billion micro, small and medium enterprises development funds (MSMEDF) to the state .
Governor Emmanuel Uduaghan who stated this on Monday, during the official disbursement of the first tranche of the funds in Asaba, maintained that his administration would continue to develop human creative capacities for economic values. Read more
Senate confirms Mohammed as CJN
For the first time in the history of the Senate and the judiciary, a sitting Chief Justice of Nigeria accompanied the successor to a confirmatory hearing in the Senate.
Incumbent CJN, Justice Aloma Mariam Mukhtar, in company with the President of the Court of Appeal, Justice Zainab Bulkachuwa, President of the National Industrial Court and other high-ranking judicial officers came with the CJN-designate, Mukhtar Mohammed for his screening and confirmation by the Senate yesterday. Read more
Economy
5TH D-8 SMEs Governmental Meeting Takes Off In Abuja
The 5th edition of the Small and Medium Enterprises (SMEs) of Inter-Governmental bodies of the Eight Developing Countries (D-8) being hosted by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has begun yesterday in Abuja.
The three-day event which was declared open by the Vice President Muhammad Namadi Sambo, who is also the chairman, National Council on Micro Small and Medium Enterprises(NCMSMEs). Read more
Nissan produces Almera, NP300 in Nigeria
Nissan says it has begun the production of Almera and NP300 in its factory in Nigeria, alongside the prestigious Nissan Patrol. The first made-in-Nigeria Patrol rolled off the production line in April after the plant was prepared for global production standards in record time.
The Nissan General Manager for sub-Saharan Africa, Mr. Jim Dando, at a forum with journalists in Lagos on Saturday, said the company was the first car manufacturer to build in Nigeria after the government had introduced a new policy to encourage domestic production of cars. Read more
Oil and Gas
Oando grows Q3 net profit by 76% to N11b
Oando Plc optimized its bottom-line performance in the third quarter as significant improvements in top and midline costs moderated decline in turnover and returned higher earnings to shareholders.
Key extracts of the interim report and accounts of Oando for the nine-month period ended September 30, 2014 showed that while turnover dropped by 12.5 per cent, the group drew on improved input and marketing costs to grow gross profit and operating profit by 70.4 per cent and 97.3 per cent respectively. Net profit after tax rose by 75.7 per cent. Read more
PENGASSAN calls for speedy passage of PIB
Following the announcement of austerity measures by the Federal Government on Monday, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has demanded the passage of Petroleum Industry Bill (PIB) which is expected to encourage much needed investment in the oil and gas sector.
The president, PENGASSAN, Comrade Francis Johnson, stated on Tuesday in Lagos that “the PIB, which provides for legal and regulatory framework as well comprehensive guidelines for the operations and activities in the oil and gas sector, is stuck with the National Assembly. There is need for the legislators to consider the bill and not waste time in passing it to law so as not to further delay or debar investment decisions that can spur development in the nation’s oil and gas sector. Read more
World News
Kafando sworn in as Burkina Faso transitional president
Michel Kafando was sworn in as transitional president of Burkina Faso on Tuesday, faced with the task of leading the West African country to elections in a year following a brief military takeover.
The former foreign minister, who will be barred from standing at the elections, is set to name a prime minister on Wednesday and together they will appoint a 25-member government, according a transition timetable. Read more
Australian dies in Cambodia nightclub fire
Five people have been killed in a nightclub fire in Cambodia, including an Australian tourist, local police have confirmed.
Tom Ricketson, 32 and from Sydney, suffocated in blaze at the Hip Hop club in north-western city of Siem Reap. He had arrived in Cambodia last week.
The four other victims – three women and a man – are believed to be locals. Read more
Shell wins tax battle against Indian
Oil giant Royal Dutch Shell has won a long-running court battle against Indian authorities over a tax dispute involving billions of dollars.
The Bombay High Court ruled in favour of Shell’s Indian unit, which was accused of under-pricing shares transferred to its parent firm by $2.5bn (£1.6bn) in February 2013. Read more
Cuban doctor in Sierra Leone tests positive for Ebola
A Cuban doctor treating Ebola patients in Sierra Leone has tested positive for the disease and will be sent to Geneva for treatment, the official website Cubadebate reported on Tuesday, citing a Health Ministry statement.
Felix Baez had a fever on Sunday and tested positive on Monday, the statement said. He has not shown complications and is “hemodynamically stable,” the statement said. Read more
US Senate blocks Obama’s surveillance reform bill
US Senate Republicans on Tuesday blocked a sweeping overhaul of a National Security Agency (NSA) programme that would have ended the government’s controversial bulk collection of data about Americans.
The vote marks a blow for President Barack Obama, who had supported the reforms, and sets up a showdown in 2015 when crucial surveillance provisions are set to expire. Read more
Power
NERC urges investors to embrace modern technology in power sector
The Chairman, Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, has urged new investors in the power for the need to embrace changes in technology in the Nigerian Electricity Supply Industry (NESI) in order for the system to keep in tandem with the times.
“We expect a high quality document because of the composition of the Technical Working Group (TWG), made up of lawyers, professors, and engineers”. Read more
MSME operators to pay less electricity tariff soon—Aganga
In the bid to reduce the high cost of doing business in Nigeria, operators of Micro, Small and Medium Enterprises (MSMEs) will soon be paying less for electricity consumed in the course of their production activities.
Minister of Industry, Trade and Investment, Mr Olusegun Aganga, dropped the hint while declaring open the D8 SME Governmental bodies meeting, on Tuesday, in Abuja. Read more
CBN settles PHCN legacy debts to gas suppliers
The Central Bank of Nigeria, CBN, yesterday, offset the N36.9 billon legacy debt owed to gas suppliers by the power sector under the defunct Power Holding Company of Nigeria, PHCN, over the last few years.
This debt settled through the CBN was part of the N213 billion intervention funds initiated by the Federal Government to address the hiccups which characterised the posts-privatisastion of the power sector of the economy. Read more
Fed Govt eyes 12,800Mw by 2016
The Head, Power and Energy at Ecobank, Olufunke Jones, has said the Federal Government is putting measures to generate electricity in excess of 12,800 megawatts (Mw) by 2016.
Jones who spoke with The Nation at a forum on power themed “Power Sector Reforms: Sustainable Change for Development,” held in Lagos, said what has happened in the sector for the last one year is the engagement that will fine-tune a framework which will bring about productivity. Read more
Sports
S’Eagles set for last Nations Cup hurdle against Bafana Bafana
Super Eagles hope of qualifying for the 2015 Africa Cup of Nations in Equatorial Guinea is dependent on the outcome of its last group A qualifier against Bafana Bafana of South Africa in Uyo today.
Nigeria, second in the group with seven points, needs an outright victory for it to win the group’s second automatic qualification ticket. South Africa qualified last Saturday with 11 points after its 2-1 defeat of Sudan in Durban thereby opening a four-point lead over second and third placed Nigeria and Congo respectively. Read more
Defeat not an option, Mark tells Eagles
As the Super Eagles of Nigeria confront national team of South Africa the Bafana Bafana in the last qualification stage of African Cup of Nations, AFCON, today, the Senate President, David Mark has told the players and technical crew of the national team that a defeat of the South African team is not an option but a must.
Senator Mark who stated this yesterday during the senate plenary commended the Super Eagles for reviving the hope Nigerians have for the qualification of the national team for the 2015 AFCON to be hosted by Equatorial Guinea. Read more
Shakes makes three changes for Nigeria
Bafana Bafana coach Shakes Mashaba made three changes to the team that defeated Sudan 2-1 for tonight’s final Africa Cup of Nations qualifier against Nigeria.
Mashaba has brought in Tefu Mashamaite for Rivaldo Coetzee, Reneilwe Letsholonyane replaces Andile Jali and Mandla Masango takes the place of the injured Thulani Serero. Read more
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