*FG opposes electricity tariff reversal, backs NERC *Govt fixes fares for Abuja-Kaduna rail service

*FG opposes electricity tariff reversal, backs NERC *Govt fixes fares for Abuja-Kaduna rail service

SABINEWS MIDDAY NEWS UPDATES FOR JULY 22, 2016

FG opposes electricity tariff reversal, backs NERC

The Federal Government on Thursday opposed the court ruling that mandated it and the Nigerian Electricity Regulatory Commission to reverse the 45 per cent increase in power tariffs payable by consumers across the country. It also commended NERC for appealing the judgement, describing the ruling as a setback that posed a challenge, which had prompted misunderstanding in the sector. The Minister of Power, Works and Housing, Babtunde Fashola, disclosed this during the signing of the front-runner Power Purchase Agreements between the Federal Government and 14 solar power development and promoting companies in Abuja. Read more

Govt fixes fares for Abuja-Kaduna rail service

The Federal Government is set to inaugurate the completed Abuja-Kaduna rail project and has fixed the boarding fees for passengers who intend to use the facility. The Minister of Transportation, Rotimi Amaechi, who was accompanied on the final test run of the project by the National Chairman, All Progressives Congress, Chief John Odigie-Oyegun; a former Governor of Ekiti State, Olusegun Oni; as well as other party chieftains in Abuja, stated that the rail line had been completed and was ready for use. Amaechi said President Muhammadu Buhari would inaugurate the project this month, adding that passengers who desired the executive and economy seats would be charged N900 and N500, respectively. Read more

Nigeria naira falls 2 pct in early interbank trades

Nigeria naira fell 2 percent against the dollar in early trade on the interbank market on Friday on thin dollar volumes, data from Thomson Reuters showed. The naira slipped to 298.50 per dollar at 0843 GMT, trading a total volume of $360,000.  Read more

Ramadan in time of national distress

With the sighting of the moon in many parts of the country last Sunday night, The Sultan of Sokoto and President-General of the Nigerian Supreme Council for Islamic Affairs (NSCIA), Muhammad Sa’ad Abubakar, declared the following day (Monday, June 6, 2016) the first day of Ramadan to herald the beginning of this year’s monthlong Ramadan fast. The Sultan implored Muslims to use the period to pray for the success of the country’s leadership as well as peace and stability in the nation. Shortly after, President Muhammadu Buhari relayed his Ramadan message to the nation. Read more

Government abdication of responsibilities

There is, perhaps, no logic that has not been advanced to explain the despicable living condition nonprivileged Nigerians find themselves in today. It is needless fingering the numerous pundits explaining away the crossroads, when it is clear that the mess is the handiwork of leaders, especially those who piloted the affairs of Nigeria between 1999 to date, that thought of nothing else except enjoying petrodollars with members of their families and cronies, without thinking of the well being of the nation-state and the entire citizenry. They never imagined oil price will crash someday; and they never factored the diversification of the economy into their reveling. With the financial crunch that has virtually crippled most states in the country and exposed the rump of their nonviability, governors have been battling to wriggle out of the mess through the privatization of everything in sight. Read more

ICCN Hinges Poor Economy On Low Oil Prices, Forex Restrictions, Others

The International Chamber of Commerce (ICC), Nigerian chapter, at it just concluded 17th Annual General Meeting (AGM), which held at the Metropolitan Club, Kofo Abayomi Street, Lagos, stated that the steep decline in international crude oil prices, foreign currency restrictions and security challenges, among others, had put the economy in a bad shape. The chairman of the Board of the Nigerian arm of ICC, the only organization empowered to set rules that could influence the conduct of businesses all over the world, Mr. Babatunde Savage, while presenting ICCN audited financial statements and report for the year ended 31st December, 2015, remarked that there was lull and uncertainty in the business community because of the reduced government revenue. Another factor, according to him, was pressure on the foreign reserves and Naira exchange rate, which would demand a pragmatic global approach and strategy in rebuilding a diversified and sustainable economy. Read more

BoI, NCDMB’s $100m Pact Will Meet Funding Needs Of Manufacturers-Olagunju

The Acting Managing Director of Bank of Industry (BoI), Mr. Waheed Olagunju, has said that the recently signed Memorandum of Understanding (MoU) pact of $100 million between BoI and Nigerian Content Development and Monitoring Board (NCDMB) would facilitate the disbursement to operators in the oil and gas sector to boost local content development. Olagunju, who expressed optimism of the partnership, which is believed would have a lot of impact on the lives of many Nigerians, said  under the agreement, the bank would serve as the custodian and manager of the $100 million Nigerian Content Intervention Fund (NCI Fund) to meet the funding needs of manufacturers, service providers and other key players in the nation’s oil and gas industry. Read more

Checking religious intolerance

Several legal instruments promote the sanctity of human life and right to freedom of religion. Section 33 (1) of the 1999 Constitution, (as amended) stipulates that “every person has a right to life, and no one shall be deprived intentionally of his life, save in the execution of of the sentence of a court in respect of a criminal offence of which he has been found guilty in Nigeria. Also section 38 of the constitution stipulates that”every person shall be entitled to freedom of thought, conscience and religion, including freedom to change his religion or belief, and freedom (either alone or in community with others, and in public or in private) to manifest and propagate his religion or  belief in worship, teaching, practice and observance”.  Also Article 4 of the African Charter of Human and  Peoples Rights promotes the right to life and Article 8 talks about the right to freedom of conscience, and free practice of religion. Read more

Peter Obi at 55

Former Governor of Anambra State, Mr. Peter Obi is 55. Born on the 19th of July, 1961, he remains a man of strong will and gentle speech, of imposing purpose and simple sentiments. His character and his politics have continued to please the people. He is genial, witty, unassuming, and endowed with a charm that atones for his errors. Simple and unpretentious in appearance and attire, he has steadily established a reputation for political sanctity and love for our country, Nigeria and its people. Read more

America at war with itself

THE United States of America is currently in a state of unprecedented turmoil and terrible siege rarely witnessed in the history of the country. Indeed, America has never had it so bad since the dark era of civil right upheavals in the sixties. The recent mindless shootings, and killings of hapless African American citizens by the trigger–happy white police officers had indeed portrayed America as a law less society with no regard for the sanctity of human life. And to further compound the ugly situation was the most recent shooting of innocent American Citizens by allegedly mentally deranged gun trotting elements suspected to be inspired by terrorist ideology or the so-called Islamic State otherwise known as ISIS. Read more

Vehicle, gun not missing at Tin Can-Customs

The Nigeria Customs Service, Tin Can Island Port Command has denied media reports (not Daily Sun) about the disappearance of a vehicle with arms and am m munition. Speaking at a press briefing in Lagos Thursday, the Customs Area Controller, Yusuf Bashar said a six-round revolver pistol and four shells of ammunition were found in a Toyota Solara sedan vehicle coming in from the United States last Saturday. “Since it was a Saturday, the terminal operator (Five Star Logistics Limited) in charge of the terminal where the ship docked, detected the prohibited items. It was during checks on the vehicle to determine if what was on them manifest is what was shipped. Read more

NCC seeks implementation of NEC’s resolution on taxes

The Executive Vice-Chairman of the Nigerian Communications Commission (NCC) Prof Umar Danbatta has called on the three tiers of government to adhere to the National Economic Council’s (NEC) resolution on the right of way which explains taxes to be charged telecommunication operators in the country. Meanwhile, Minister of Communication Technology, Adebayo Shittu has called on the commission to urgently address the high rate of drop calls and unsolicited massages by telecom operators so that Nigerians would not see them as failures that are not capable of protecting their interests.Speaking when the Minister visited the commission in Abuja, Danbatta lamented that telecom operators are subjected to indiscriminate regime of taxes adding that getting approvals for right of way especially from state and local governments is a major challenge Read more

NIS pulls global effort to tackle Nigeria challenges

Nigeria Innovation Summit (NIS) is set to pull global support in promotion of the nation’s revolution to the global effort at closing digital divide according to the Emerging Media, organisers of the event. Mr. Kenneth Omeruo, chief executive officer (CEO), Emerging Media, said that the economic challenge that Nigeria faces today is one that calls for innovation across different sectors of the economy. To accomplish this, he said more-effective products, processes, services, technologies, and business models are readily made available to markets, governments and society. Read more

The re-opening of unresolved murder cases

Last week, President Muhammadu Buhari directed the acting Inspector General of Police, Ibrahim Idris, to reopen investigation into the unresolved murder of former Attorney-General of the Federation and Minister of Justice, Chief Bola Ige and ex-Deputy National Chairman, South-South, of the Peoples Democratic Party (PDP), Chief Aminasoari Dikibo, with a view to bringing their killers to justice. We recall that the killing of the two prominent politicians caused national outrage with Nigerians calling on the then President Olusegun Obasanjo administration to apprehend and punish the perpetrators of the heinous crime. Nigerians also called on that government to revisit all unresolved murder cases in the country. Read more

Police’s 24 vehicles, promotion and other issues

I was amazed during the week when the new Acting Inspector General of Police (IGP), Ibrahim Idris took on his predecessor in office, Solomon Arase, accusing him of taking away 24 vehicles belonging to the police, after his retirement. He did not stop at that, he equally accused the seven deputies that retired with Arase of making away with about seven or eight cars, each. “When I took over, there was no vehicle, even the vehicle I would use. I discovered the last IG went away with 24 vehicles; the DIGs, some of them eight, some of them seven. The IG’s vehicles included two BMW 7 series, one armoured; and he left me with an old car”. Read more

Boosting tourism in Garden City

Despite the rumble in the National Assembly over Dino Melaye and Oluremi Tinubu’s needless face-off, the abortive coup in Recep Tayyip Erdogan’s Turkey, the controversial hiring of Frenchman, Paul Le Guen, as Super Eagles’ coach or technical adviser, Melania Trump’s speech plagiarism allegation and even the nation’s tottering economy that is fast facing recession, according to IMF, I want to dwell on how to grow the nation’s economy by tapping its tourism potentials beginning with the oil-rich Rivers State. It is absurd that the current National Assembly is fast turning to a circus show where all manner of dramas play out so often. After the alleged sex scandal of some members of the Lower House in the United States, some senators are entertaining Nigerians with another vulgar drama with varying themes of romance, rape, pregnancy, thugs, mad dog, and war. We have had enough of these ugly side shows. Nigerians expect the lawmakers to dwell on serious issues affecting the country than sex and rape. Read more

UBA, Mastercard ink deal on card issuance in 19 markets

will see UBA issue Mastercard credit, debit and prepaid cards across these markets. The partnership will also focus on increased payments infrastructure across Africa, including the roll out of point-of-sale and mobile-point-of-sale technology, to ensure merchants are able to accept the cards when introduced into these markets. Mastercard and UBA are partnering across the 19 African countries in which UBA currently operates: Nigeria, Benin, Burkina Faso, Cameroon, Chad, Cote D’Ivoire, Democratic Republic of Congo, Equatorial Guinea, Ghana, Gabon, Guinea, Guinea-Bissau, Kenya, Liberia, Mozambique, Republic of Congo, Senegal, Sierra Leone, Tanzania, Uganda and Zambia. Read more

How Nigeria can leverage $37Bn IoT security market

Presently, it is almost impossible to go through a week in global technology news without reading something about the Internet of Things (IoT), with the security market edging to over $36billion USD by 2021, according to a new market research report published by MarketsandMarkets. The market is estimated to grow from projected $7.90 billion in 2016 to $36.95 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 36.1%. In an assessment of Nigeria’s readiness to leverage IoT, Idemudia Dima-Okojie, director at Openspace Digital Technologies told Nigeria CommunicationsWeek that, especially with the ongoing innovations in driverless cars and many other innovations over the past decades, IoT is an evolution towards something greater. The major forces driving the IoT security market, according to the report, are rise in security concerns for critical infrastructures such as utilities, smart grids, and manufacturing facilities and stringent regulations and compliance requirements. Read more

Nigeria’s cashew nut production to increase by 30%

Nigeria is expected to record increase in its cashew nut production in coming years due to renewed focus by the government and increasing demand for the commodity across developed countries and Asia. The Chief Executive Officer of the Nigeria Export Promotion Council, Mr. Segun Awolowo, stated this during a recent workshop on cashew processing and market information system in Lagos. According to Awolowo, cashew is expected to yield 175,000 metric tonnes at the end of this year’s trading season, up from a yield of 150,000 metric tonnes in 2015. Read more

Child Marriage: Gambia to jail parents 21 years

Gambia passed a law banning child marriage Thursday and introduced heavy jail terms for anyone who breaks the new rules. Under the new law, a man who marries an underage girl would face 20 years in jail, her parents would get 21 years and an iman who presides over the marriage would also face time in prison. The law also states that anyone who is aware of the marriage of a girl under the age of 18 but fails to report it could be put away for 10 years. President Yahya Jammeh announced plans to push through the new law earlier this month, having previously said that the practice was not required under Islam — the religion of around 95 percent of the country’s 1.8 million population. Read more

Ghana to hold elections December 7

Ghana’s presidential election will now be held on December 7, after parliament voted against an amendment to push the vote forward by one month, the electoral commission said on Friday. Lawmakers late on Thursday rejected a bill seeking to change the date for the polls from December 7 to the first Monday of November for every election year. “Despite the demonstration of our preparedness to deliver a credible and world-class elections on the proposed November 7 date, parliament in its wisdom has decided not to pass the amendment,” the electoral commission said in a statement. “The outcome of the voting therefore sets December 7, 2016 as the day for our presidential and parliamentary elections,” it added. Read more

About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

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