Sabinews Daily Morning News Update for January 22, 2015
National News
LASAA orders TAN to remove Jonathan’s posters
The Lagos State Signage and Advertising Agency (LASAA) has ordered the Transformation Ambassadors of Nigeria (TAN) and its affiliates to remove illegally deployed campaign adverts of President Goodluck Jonathan in the state.
LASAA’s Managing Director George Noah told reporters yesterday in Lagos that two outdoor agencies had their contracts worth N350 million terminated due to the flagrant act by supporters of the Peoples Democratic Party (PDP). Read more
Shekau Burns Nigeria Flag
Leader of the Boko Haram, Abubakar Shekau has released a disturbing video in which he was seen torching the Nigerian flags even as he displayed cache of arms and ammunition seized from the Nigeria Army in Baga, Borno state.
Shekau had also in the 36 minutes video declared the All Progressives Congress (APC) Presidential candidate, General Muhammadu Buhari, and President Goodluck Jonathan as enemies and infidels who Nigerians are celebrating ignorantly. Read more
Jonathan in Kano, Promises to Eradicate Polio in 2015
President Goodluck Jonathan and his campaign team were yesterday overwhelmed by the mammoth crowd that received them at the Peoples Democratic Party (PDP) campaign rally in Kano.
At the Polo Ground, venue of his 2015 presidential campaign rally in Kano, the president said he was greatly delighted at the massive crowd he met in the place despite the type of negative campaign by the opposition. Read more
Kuffour Heads ECOWAS 250-man Observation Team to Nigeria’s Polls
Former President of Ghana, Mr. John Kuffour, is heading the 250-member Election Observation Mission (EOM) of ECOWAS for Nigeria’s 2015 general election on February 14.
This EOM, which is one of the largest foreign observer missions being deployed to Nigeria, would arrive February 10, and would be preceded by a 12-member Long-Term Election Observation Mission (LTEOM), whose members will be deployed from January 22 to February 18 2015. Read more
Bird Flu Not At Epidemic Level – FG
The federal government has allayed the fears of Nigerians over the re-occurence of the outbreak of the Avian Influenza (Bird Flu), saying, “Nigeria is not in a state of epidemic.”
Speaking at a ministerial briefing with journalists on the reported case of the bird flu in Abuja, yesterday, the minister of agriculture and rural development, Dr Akinwumi Adeshina, said, “We are not in a state of any epidemic even though seven states, including Kano, Lagos, Ogun, Delta, Rivers, Edo and Plateau, have so far reported cases of the bird flu. Read more
Fed Govt revokes 1,200 quarry, 44 coal licences
The Federal Government revoked 1,200 quarry licences and 44 coal mineral titles last year, the Director-General (DG), Nigeria Mining Cadastre Office, Mr. Mohammed Amate, has said.
Amate told the News Agency of Nigeria that the office issued over 3,000 quarry licences out of which 1,200 were revoked. Read more
Economy
JP Morgan Index: CBN increases banks’ forex trading reserves
The Central Bank of Nigeria, CBN, yesterday moved to forestall the removal of Nigeria from the JP Morgan’s Government Bond Index as it increased banks’ foreign exchange trading position.
The apex bank also reversed its decision to ban invisible transactions from the official foreign exchange market, thus making it easy for foreign investors to enter and exit from the nation’s financial market. Read more
Int’l Partners Boost Nigeria’s Socio-economic, Political Devt
The international development partners have enhanced Nigeria’s socio-economic and political development process, with continued cooperation and support for the country through financial and technical support.
Two critical areas in which this development cooperation has been most manifest are in electoral support and support in the war against terrorism and insurgency, according to information provided by a journalist and international development communications specialist, Mr. Kelechi Onyemaobi. Read more
Unemployment hindering Nigeria’s growth potential — NIM
The Nigerian Institute of Management has lamented the rising unemployment situation in the country, saying it is undermining the country’s growth potential.
The NIM, in a statement by its President and Chairman of Council, Mr. Nelson Uwaga, announcing the second edition of its Breakfast Forumin Lagos, expressed concern over the unemployment situation and its effect on the entrepreneurial attitude of the youth population of the country. Read more
United Capital unveils financial markets report
United Capital Plc has released its Nigerian Economy and Financial Markets 2015 report. The report provides a detailed review of the Nigerian market in 2014 with projections for the year.
It discusses the outlook for different sectors, inherent opportunities as well as strategies for navigating the financial market. The report is an invaluable tool for investors covering Global economic review and outlook, Africa update and outlook, oil price dynamics and Nigeria 2015 outlook, domestic macro-economic trends and outlook, capital market review and outlook as well as specific sector reviews and recommendations. Read more
World Bank earmarks $200m for FADAMA III projects
World Bank Task Leader, Abimbola Adubi, disclosed this yesterday during a courtesy call on Governor Idris Wada in Lokoja, Kogi State.
He was there for the Bank/Federal Government supervision mission on the implementation of FADAMA III additional financing project in the state. Read more
United Capital Launches Economy and Financial Markets Report
Investors and operators looking for economic and financial data to make investment decisions now have a new source as United Capital Plc (formerly UBA Capital Plc), has released its ‘Nigerian Economy and Financial Markets 2015 report.
The report, which was released yesterday in Lagos, provides a detailed review of the Nigerian market in 2014 with projections for 2015, commencing with a Global perspective and review of key African markets. It discusses the outlook for different sectors, inherent opportunities as well as strategies for navigating the financial market. Read more
Oil and Gas
Folarin asks oil workers to obey rules
The governorship candidate of the Peoples Democratic Party in Oyo State, Teslim Folarin, on Wednesday hosted members of the Nigeria Union of Petroleum and Natural Gas Workers and the Nigeria Petroleum Tanker Drivers in Ibadan, the Oyo State capital, where he enjoined them to always get approval from the relevant government agency before siting fuel stations.
Folarin said that by playing according to the rule, local oil investors would enjoy friendly relationships with the people and the government. Read more
Oil Price Plunge Will Weaken Critical Industry Projects – NNPC
The group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Joseph Dawha, has said that the ongoing decline in crude oil prices would weaken operations in Nigeria’s oil and gas sector and particularly cause interruption in about three deep-water projects in the country.
Dawha, who expressed the apprehension at the Offshore West African Conference in Lagos, with the theme, ‘Managing West African’s Major Projects’, said that this year’s theme was carefully chosen to address the decline in oil projects affecting West African countries and ways to proffer better solution. Read more
Subsidy on petrol now N2.84 per litre –PPPRA
Despite the recent reduction in the pump price of petrol from N97 to N87 per litre, the Federal Government has claimed it still pays N2.84 as subsidy on every litre of the product consumed.
According to the latest petrol pricing template published on the website of the Petroleum Products Pricing Regulatory Agency, the Expected Open Market Price of Premium Motor Spirit, otherwise called petrol, is N89.84 per litre, while the regulated price is N87 per litre. Read more
World News
Sierra Leone: Schools to reopen in March
In an effort to facilitate the reopening of schools to achieving new heights and moving beyond pre-Ebola gains in the country’s educational system, the Ministry of Education, Science and Technology (MEST) held a consultative meeting Wednesday 21 January at State House with other line ministries and development partners to discuss ways and putting in measures for the reopening of schools within the shortest possible time. Read more
Jamaica marijuana reform bill ready
Jamaica’s Cabinet has approved new laws to decriminalise possession of small amounts of pot and pave the way for a legal medical marijuana industry on the Caribbean island.
Justice Minister Mark Golding said he expects to introduce the much-anticipated legislation in the Senate by the end of this week. Read more
Nepal Steps up Security Fearing More Trouble in Parliament
Nepal stepped up security in the capital and put police on alert Thursday, anticipating trouble both inside parliament and on the streets because of planned protests by the opposition against governing coalition plans to push through a draft of a new constitution.
Chief government administrator of Kathmandu Ek Narayan Aryal said thousands of police in riot gear and armed with bamboo batons were guarding the area around the Constitution Assembly and areas of the capital Kathmandu. Read more
El Salvador woman jailed over abortion pardoned by Congress
El Salvador’s Congress on Wednesday pardoned a woman accused of abortion and later sentenced to 30 years in prison for homicide in a landmark case that has put the country’s harsh laws under the spotlight.
The vote may signal similar relief for other women who have been convicted and sentenced to jail for abortion, which was criminalized in El Salvador in 1997. Read more
Japan says looking at all possible ways to free hostages
Japan said Thursday it was considering all possible ways to gain the release of two hostages held by the Islamic State group, as two people with contacts there offered to try to negotiate.
The Islamic State group, in a video message seen Tuesday, said it would kill the hostages within 72 hours unless it receives $200 million. Based on the video’s release time, that deadline would come sometime Friday. Read more
Republicans drop abortion bill debate amid internal divisions
In an embarrassing setback, House Republicans abruptly decided on Wednesday to drop planned debate of a bill criminalizing virtually all late-term abortions after objections from GOP women and other lawmakers left them short of votes.
The decision came on the eve of the annual March for Life, when thousands of anti-abortion demonstrators stream to Washington to mark the anniversary of the 1973 Supreme Court decision that legalized abortion. It also came with GOP leaders eager to show unity and an ability by the new Republican-led Congress to govern efficiently. Read more
President pushes currency, fuel reforms for ailing Venezuela
President Nicolas Maduro shook up complex currency controls on Wednesday and also prepared Venezuelans for a rise in the world’s cheapest fuel prices in response to a recession worsened by plunging oil revenue.
The socialist-run OPEC member’s economy shrank 2.8 percent in 2014 while inflation topped 64 percent, the socialist leader announced in a speech to parliament, in what is almost certainly the worst performance in Latin America. Read more
ISIS gaining ground in Yemen, competing with al Qaeda
The Syria-based terror group ISIS is active and recruiting inside the Middle Eastern state of Yemen, already a hotbed of terrorist activity, CNN has learned.
The disturbing information comes from a Yemeni official, who told CNN on Wednesday that ISIS has a presence in at least three provinces in southern and central Yemen, and there is now a “real competition” between ISIS and the Yemen-based terror group al Qaeda in the Arabian Peninsula, or AQAP. Read more
Power
FG Clears Extra 1,669 PHCN Workers for Severance Payments
The federal government yesterday said it was about to clear an additional 1,669 former workers of defunct Power Holding Company of Nigeria (PHCN) for payment of their severance entitlements and pension, following its privatisation of successor generation and distribution companies of the PHCN in November 2013.
The Minister of Power, Prof. Chinedu Nebo, said in Abuja that the reports that a significant number of the former PHCN workers had not been paid their severance entitlements were not true. Read more
Jonathan Inherited Only 2,800MW, Says Nebo
Senate President, Senator David Mark and Governor Gabriel Suswam of Benue State yesterday appealed to Nigerians to ensure that the forthcoming general election is violence-free.
Both men, according to a statement, spoke at the flag-off of the Senate president’s re-election campaign at Och’Idoma’s Palace Square in Otukpo, Benue State. Read more
Sports
Premier League Dominates Football’s Rich List
Real Madrid has topped the list of football’s richest clubs by income for the tenth year running, but the Premier League is now dominating the chart.
England’s top flight clubs have shown their dominance among the highest-earners, with all 20 teams making it into the rich list’s top 40. Read more
Siasia Lists Etebo, Tonbara for Tunisia
Head coach of Nigeria’s Under-23 football team, Samson Siasia has named 21 players including Oghenekaro Etebo and Tiongoli Tonbara to face Tunisia in a two-legged friendly.
Etebo plays for Warri Wolves while winger Tonbara is on the books of Bayelsa United.
The games, which will be held in Tunis, are to serve as tune-up matches for Nigeria’s under-23s as they shape up for the upcoming All Africa Games qualifiers. Read more
Pillars get N100m largesse, set for Ghana
Kano State government has approved N100million to Kano Pillars FC to prosecute the 2014 CAF Champions League campaign.
Vice Chairman of the Continental Campaign Committee, Alhaji Ibrahim Galadima, who disclosed this to National Mirror in Kano yesterday, said the fund would help the committee to execute the team’s preparation for the continental competition. Read more
ACC: NCF Changes Nigeria Training Tour
Ahead of next month’s U-19 Africa Cricket Championship (ACC) in Tanzania, Nigeria Cricket Federation (NCF) has altered the preparation plans of the Nigeria’s U-19 team for the championship.
The Nigerian contingent which was earlier scheduled to embark on a training tour to Dubai from January 26 will now be heading to Kenya for their training tour in preparation for the tournament. Read more
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