Sabinews Daily Morning News Update for November 21, 2014
National News
Power tussle tears Anambra market leaders apart
Bridge Head Market in Onitsha, Anambra State, a commercial city, has been thrown into crisis following the emergence of two parallel groups laying claims to the leadership of the market association.
Trouble started when a group started imposing levy and collecting money from traders in the market. Read more
Chime may dump PDP for APGA
The rivalry engulfing the Enugu State chapter of the Peoples Democratic Party (PDP) took a new dimension yesterday following an alleged plan by Governor Sullivan Chime to join the All Progressives Grand Alliance (APGA) with his loyalists ahead of 2015 polls.
Reliable sources from the camp of the governor said that the decision. Read more
EU, U.S. Berates Katsina Gov over Violence Inciting Speech
The Katsina State Governor, Ibrahim Shema was roundly condemned in strong terms by the European Union (EU) and United States on Thursday for his political campaign speech which was viewed as being tailored to motivate violence against political opponents.
Urging Nigerians to work towards ensuring peaceful elections in 2015, while briefing newsmen in Abuja, Mr Michel Arrion, EU Ambassador and Head of Delegation to Nigeria and ECOWAS, called on political actors in the country to desist from using hate speeches and shun violence. Read more
Abia guber: Otti pledges to abolish non-natives policy
A governorship aspirant on the platform of All Progressives Grand Alliance (APGA) in Abia State, Dr. Alex Otti, has assured residents of the state that if elected, his administration will abolish the non-natives policy
Addressing party faithful from the 17 local government areas of the state on Tuesday during a reception organised in his honour by the leadership of the party at the APGA’s state secretariat in Umuahia, Otti described the policy as criminal, adding that before the state was created, Abia was part of Imo State as well as old eastern region. He assured that all residents would be treated equally. Read more
NYSC DG’s exemplary conduct
The recent visit of the Director-General of the National Youth Service Corps (NYSC), Brigadier-General Johnson Olawunmi, to a youth corps member on hospital bed in Benin, the Edo State capital, is a paradigm shift in the relationship between the helmsmen of the NYSC and the corps members under their supervision. The DG, who was in Edo State as part of his tour of Orientation Camps for 2014 Batch ‘C’ corps members, visited Mr. Oluwagbenga Babatunde at the University of Benin Teaching Hospital, Benin, when he learnt of his involvement in an accident on his way to the Orientation Camp in Bayelsa State. The NYSC boss used the occasion to stress the importance of the lives and safety of corps members and immediately directed the payment of Babatunde’s hospital bills. He also promised to grant his redeployment request to promote his full recuperation after surgery, and vowed that the scheme would continue to do everything it could to safeguard all corps members and respond promptly to anyone of them who is in distress. Read more
PDP Calls for Emergency Rule in Nasarawa
Following the incessant cases of communal clashes in Nasarawa State, the state chapter of the Peoples Democratic Party (PDP) has called on the federal government to, as a matter of urgency, declare emergency rule in the state to quell the crisis and security challenges.
Addressing journalists in Abuja, the state PDP Chairman, Yuhana Ilaya, said the security situation in the state had worsened in recent weeks following the importation of large number of mercenaries who have now embarked on wide spread destruction of villages, towns and communities across Nasarawa South and North senatorial zones. Read more
NUJ condemns abduction of 15 journalists
The leadership of Nigeria Union of journalists has condemned in strong terms, the recent abduction of 14 journalists in Delta State, while also demanding for immediate release of the kidnapped The Nation Newspaper reporter in Abia State.
NUJ President, Mr. Mohammed Garba, who spoke while addressing newsmen in Abuja on Thursday, condemned the cases of impunity and undue harassment of media practitioners in a build to 2015 general elections. Read more
APGA Adopts Jonathan as Presidential Candidate
The All Progressives Grand Alliance (APGA) has formally taken a decision to adopt President Goodluck Jonathan as its presidential candidate and to campaign for his re-election.
The party has therefore fixed its special national convention for December 17 where it hopes to elect new national officers to run the affairs of the party. Read more
Boko Haram kills 45 in Borno village
Boko Haram militants Wednesday killed 45 people in Azaya Kura village of Mafa LGA of Borno State.
Local officials and witnesses said the insurgents also destroyed most of the houses in the village and seized foodstuff and animals. Read more
Fed Govt relocates 3,000 pupils from Northeast
Following the persistent threat to lives in schools in the North Eastern part of the country, the Federal Government has approved the transfer of 3000 students from various Unity schools in Adamawa, Borno and Yobe state to other states.
The Minister of Women Affairs and Social Development, Hajia Zainab Maina who disclosed this yesterday at the programme to mark the 2014 Universal day of the African Child also appealed to the Boko Haram sect to allow peace to reign in the country as there can’t be development without peace. Read more
Economy
Banks, PEFs’ll finance Nigeria’s infrastructure needs –Wigwe, Access GMD
Group Managing Director and Chief Executive, Access Bank Plc, Herbert Wigwe, has expressed optimism in the ability of local banks, pension funds and private equity firms to bail the nation out of its huge infrastructure if adequately explored.
Speaking at the closing ceremony of the recently concluded African Summit of the Institute of International Finance (IIF) held in Lagos, Wigwe assured that local banks, private equity firms and pension fund administrators have extensive financial capacity to pool resources that will help the country wriggle out of its perennial infrastructure quagmire. Read more
FG Battling to Stabilise Naira-NEC
Indications emerged on Thursday after the National Economic Council (NEC) met that the Federal Government was battling to stabilise the Naira following the drop in oil prices.
The National Economic Council (NEC) on also raised alarm over the dwindling Excess Crude Account (ECA) occasioned by the drop in oil price. Read more
N780bn Added To National GDP in 3 Years – Minister
The minister of Agriculture and Rural Development, Dr Akinwumi Adeshina, has said the agricultural transformation agenda has added N780 billion within the past three years to the nation’s economy.
He also disclosed that, Nigeria’s food import bill has continued to decline from N 1.1trillion in 2011 to N 634 billion by December of 2013, and continues to decline while national food production expanded by an additional 21 million MT within three years. Read more
Oil and Gas
Dangote prescribes leeway to sliding oil price challenges
President of the Dangote Group, Alhaji Aliko Dangote, has identified local processing of crude oil and consumption as solution to tackling the challenges posed by the declining oil price in Nigeria.
Dangote gave this advice in a paper titled: “Global Energy Policies and Power Play- Emerging Regional Dynamics”, delivered at the just concluded yearly conference of the Nigerian Association of Petroleum Economists (NAPE) and made available to The Guardian Thursday. Read more
Nigeria must adjust to ‘permanent’ oil price shock-Finance Minister
Nigeria will have to adjust to oil prices heading lower for some time to come, Finance Minister Ngozi Okonja-Iweala said on Thursday in an interview in which she also cut the outlook for economic growth next year.
Africa’s largest economy relies on oil exports for 70 percent of government revenues and has been hit hard as crude prices have fallen to four-year lows below $80 a barrel after trading above $115 as recently as June. Read more
Enforcement of Law on Shipment of Oil and Gas to Start in 2015
In order to safeguard and to benefit maximally from oil and gas exports from Nigeria, as well as monitor crude oil produced at any point in time, starting from the next quarter in 2015, no shipment of oil and gas will be allowed to leave the shores of this country until it fulfills all legal weights and measures requirements. Read more
Shell completes sale of OML 24 to Newcross for $600m
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has completed the assignment of its 30 per cent interest in Oil Mining Lease 24 (OML24) and related facilities in the Eastern Niger Delta to an indigenous firm, Newcross Exploration and Production Limited.
The firm which puts total cash proceeds for Shell amount to some $600m stated that the divestment of its onshore fields is in line with the aspirations of the Federal Government to attract indigenous firms into business. Read more
Oil, Gas Producers, Exporters Owe FG N55bn Statutory Fees
The oil and gas producers and exporters in Nigeria owe the federal government total statutory fees of N55 billion ($300million) since 2012.
The chief executive officer of Nigerco Nigeria Limited (NNL), consultant to the federal ministry of industry, trade and investment on weight and measures, Alhaji Yusuf Yabaji Sani, made this disclosure during a meeting with journalists yesterday in Abuja. Read more
World News
Japan PM Shinzo Abe dissolves parliament for election
Japan’s Prime Minister Shinzo Abe has dissolved parliament, paving the way for a snap election.
Mr Abe is seeking a new mandate for economic reforms and is delaying an unpopular increase in sales tax. Read more
Asia stocks dulled by weak economic reports
Asian stock markets were lackluster Friday as positive economic news from the U.S. was tempered by weakness in Europe, China and Japan. Read more
Angry Mexicans protest over 43 missing students
Tens of thousands marched in the capital Thursday demanding that authorities find 43 missing college students, seeking to pressure the government on a day normally reserved for the celebration of Mexico’s 1910-17 Revolution.
Officials had canceled the traditional Nov. 20 Revolution Day parade, and marchers carrying “mourning” flags with Mexico’s red and green national colors substituted by black suggested the country was in no mood for celebration. Read more
Woman arrested with a gun outside White House
A 23-year-old Michigan woman was arrested outside the White House armed with a gun just minutes after Present Barack Obama concluded his address on immigration Thursday night.
Plainclothes Secret Service officers spotted April Lenhart walking with a holster along the north fence of the presidential residence on Pennsylvania Avenue at around 8pm. Read more
Power
Hike in Electricity Tariffs Looms as $3.30 Gas Price Takes Effect in December
The new domestic price of $3.30 approved for gas supply to power plants by the Nigerian Electricity Regulatory Commission (NERC) and changes in other key factors that are often considered by NERC when setting electricity tariff may lead to another increase in rates paid by consumers for electricity services across the country. Read more
FG signs agreements to boost power generation
The Federal Government has signed agreements with generation and distribution companies, independent power producers, international oil companies and the Nigeria Gas Company for the supply of gas.
This is to further boost power generation which hit a historic high of over 4,500MW recently in the country. Read more
Sports
NFF refuses to pay players draw bonus
Following Nigeria’s 2-2 draw with South Africa in Uyo on Wednesday, which subsequently ruled the country out of the 2015 Africa Cup of Nations, sl10.ng can exclusively reveal that the players and officials were not paid their match bonuses.
Each Super Eagles player gets $10,000 for a win and $5,000 for a draw, with Coach Stephen Keshi earning 100% of that. But sources inside the Eagles camp have informed sl10.ng that none of the players nor officials received a dime for the match. Read more
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