Breaking News! Amosun Market Building In Abeokuta Collapses As Armed Robbers Strike At First Bank

 Breaking News!!! The newly constructed Amosun Market building at Itoku collapsed this morning. Figure(s) of casualties yet to be ascertained.

Mysterious Rain In Jos.... It rained ice blocks

See what someone posted on Facebook

"Mehn Today's rain was awesome in jos. Ice blocks only .Dear God plz can it be fish next time or maybe money thanks"

Gov Ahmed to LG Workers: I Am Concerned by Your Pain

Kwara State Governor, Alhaji Abdulfatah Ahmed says he is deeply concerned by the hardship being experienced by local government workers, SUBEB staff and pensioners in the State due to the delay in payment by LG councils. 

Governor Ahmed in a series of tweets on his personal twitter page, @Governor_Ahmed, said that he will not rest until every worker is paid regularly, stressing that he will continue to uphold the security and welfare of all citizens and residents of Kwara State.

He noted that the ongoing verification exercise in the State is to help the State Government and LG councils cut costs and reduce wage bills, adding that these would clear and end challenges associated with salary arrears.

Governor Ahmed also disclosed that concerted efforts are being made to enhance Internally Generated Revenue (IGR) at both the State and local government levels.

He therefore solicited more patience from primary school teachers, other local government workers and pensioners , noting that the pains caused by salary arrears will soon come to an end. 

PDP Southwest congress will hold as scheduled - Fayose

Ekiti State Governor, Mr Ayodele Fayose has said that the Peoples
Democratic Party (PDP) Southwest Zonal Congress slated for Saturday in
Akure, Ondo State will hold as scheduled.

The governor, who addressed journalists at the PDP National
Secretariat in Abuja today, said materials for the Congress had
already been distributed through the appropriate authority.

He said the party was not aware of any court order, stopping the
congress and as such, machinery is in motion for a hitch-free
congress.

"I can confirm that materials for the Congress have been handed to the
Congress Committee and the committee is set for the Congress.

"Anyone talking about court order is only deceiving himself and it is
now time for the party to operate devoid of any abracabra court
orders.

"I therefore urge all delegates and leaders of our party to converge
on Akure on Saturday for the Congress as scheduled," the governor
said.

While calling on elders of the party to take the backstage and play
advisory role, the governor said; “Those who have occupied exalted
positions in the party should be ready to bow out graciously for the
emergence of new blood burning with ideas, especially the youths who
are not Abuja based but popular at home.”

He said; “In as much as we respect and appreciate all our elders, they
must act in a way that the overall interests of our party and its
members will not be jeopardised."

He said the era of people forcing themselves on the party, using court
orders is gone and anyone interested in party positions must be ready
to face elections.

OSINBAJO ENLIGHTENS AND REASSURES INVESTORS

The Vice President, Prof. Yemi Osinbajo SAN, still in consonance with wooing investors for the country presented an in-depth analysis of some Government Policies to investors at the 7th Annual Pan-Africa 1:1 Investor Conference, which was organized by Renaissance Capital.

The event took place at the Intercontinental Hotel,  Victoria Island, on Wednesday April 11, 2016.

Prof. Osinbajo started his presentation by setting the stage for why The Government is taking some of the policy decisions that are being taken now and why the particular policy options, also why Government thinks such decisions are the best in such circumstances as well as why Government thinks such decisions are good for investors.
Analyzing the economic indices, he said GDP has fallen, household consumption increased despite GDP figures. Manufacturing growth slowed down because of drastic fall in Foreign Exchange Earnings. There is a slow decline in Capital Importation as well as foreign Exchange as a result of decline in Crude Oil prices.

The Vice President, referring to the peculiarity of the Nigerian situation said, in the short run Government will continue to stimulate  household consumption, address problem of fuel shortages, food scarcity and inflation as well as Foreign Exchange. Some of the actions around these include the feeding of 5.5million children which will increase the nutritional value of the children and will consequently affect the agricultural value chain and the entire supply chain all the way.

Continuing he said public works program for rural roads that will connect roads to the markets and consumers as well as affordable housing program are also part of the decisions. These will create employment for some people. Talking about Agriculture and food security, he said Government Intends to achieve self sufficiency in rice production, wheat and tomatoes, by collaborating with some States like Kebbi State for instance. Also he talked about the implementation of deregulation of fuel. To increase foreign exchange earnings The Central Bank will pursue re-evaluation of the Forex. 

Assuring the investors, Prof. Osinbajo said Boko Haram has been largely contained and Government will continue to invest in security. Government is working hard on controlling public expenditure and the efficiency unit of the Fedreral Ministry of Finance will play a big role. TSA has helped greatly to give the operators of the public finance system a good view of all Government's receipts and revenue and has therefore helped in managing public finance. 

Furthermore he said key intervention in capital projects, is investment in infrastructure. For the first time, 30% of the budget will be spent on capital projects and will be mainly on power, works, housing and transportation which includes about four rail projects. 

Concluding, the Vice President fervently assured investors that the N6 trillion budget will stimulate the economy. He said foreign exchange challenges will not only be tackled by demand management only but also the issue of supply will be tackled as well. Assuring that regulatory and fiscal issues in the PIB will be addressed to encourage investment in the sector. There will be a dedicated security force that will engage more of technology in addressing the Niger/Delta issue. Government will ensure that the banking system survives he said. 

Fuel Price Increase: Buhari's Government Hates Nigerian Masses -Ogun State PDP

The Ogun State Chapter of the Peoples Democratic Party (PDP) has condemned in strong terms the increase in price of Premium Motor Spirit from N86 to N145 per litre as announced by the Federal Government on Wednesday 11th May, 2016.

In a statement signed by the Publicity Secretary of the party in the state, Mr. Malik Ibitoye, and made available to the media, the party stated that the President Muhammadu Buhari-led government is anti-people and undemocratic.

According to the statement, "the Federal Government of Nigeria under President Muhammadu Buhari of the All Progressives Congress (APC) has once again demonstrated its hatred for the Nigerian masses and the downtrodden people of Nigeria.

"Just a few weeks to the celebration of its first anniversary in office, the Buhari-led government officially increased pump price of Premium Motor Spirit from N86 to N145 to the chagrin of millions of Nigeria.

"It must be noted that the APC-led government has constantly displayed its arbitrariness with the brazen manner it has been churning out anti-people policies one of which is this latest onslaught on the people."

The party stressed that the fuel price increment is arbitrary, anti-people, anti-democratic, retrogressive, adding that it must be condemned by all right thinking persons regardless of party affiliation.

It was emphasised in the statement that "it is unthinkable that Buhari's government would ever thought of foisting increase in fuel pump price on Nigerians, who have been made to go through months of fuel scarcity and hyper-inflation in the last couple of months."

To this end, the Ogun State PDP said that they were not surprised "by what is being revealed daily by the government that promised to change the life of the people for the better, it only confirms what we said repeatedly before, during and after the last general elections in the country."

The party accused the Federal Government, under President Buhari, of succumbing 'so cheaply to the pressure from the oil magnates in the country.'

They added that they were beginning to doubt the ability of President Muhammadu Buhari to rescure Nigeria from the doldrum because, according to them, the president has added more insult upon injury for Nigerians in a country where there is no electricity, no job, and no security.

"Our fears are that it would not stop at that as petrol price may go beyond N200 per litre in the next  few months because we could see the marketers jubilating that they have won the battle," they said in the statement.

They said further: "We want to agree with the Nigeria Labour Congress (NLC) that said in a statement that “the unilateral increase in prices of petroleum products today by government represents the height of insensitivity and impunity and shall be resisted by the NLC and its civil society allies.”

"It added that with “the unjustifiable electricity tariff and other economic challenges brought on by the devaluation of the naira and inflation, the least one had expected was another policy measure that would make life miserable for the ordinary Nigerian."

The party revealed that they were not surprised with what the APC-led Government has done, but that "we only pray that Nigerians would not be further pushed to the precipice as it appears that we have indeed boarded a one chance bus with this apparently insensitive government."

Big Brother Season 8 Contestant Is Dead

Former Big Brother Africa Contestant, Evelyn Eveva Sitali, has died.

The contestant, 29, passed away after undergoing a surgery.

The sad news which was announced on her official facebook page “It’s sad to inform you all of the passing away of Eveva Sitali. She had an accident in 2014 and had undergone many operations on her leg but the last operation she had on Saturday 7th May was unsuccessful and she passed on the 10 of May at Levy Mwanawasa hospital”

Skye Bank contribution to Agric sector hits 10 per cent

The Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Timothy Oguntayo, has disclosed that the bank's agricultural portfolio had reached about 10 per cent from five per cent two year ago, showing its support to the development of the nation's economy.

Oguntayo who said agriculture comprised a significant portion of our portfolio in Skye Bank, noted that  From less than five percent two years ago, the bank has now raised its contribution to the sector to nine per cent and almost hitting 10 percent.

The Skye Bank CEO, who spoke with select journalists on the sidelines of 3rd Ogun State Investors' Forum held in Abeokuta, the Ogun State Capital,said the bank was supporting agriculture in nine states under the pilot agriclutral scheme with focus on rice and cassava production.   

 "We have brought in international participants - those who have done it successfully in other parts of the world – to come and work with clusters of farmers; a group of farmers we have in Ogun State here, we have in Osun State, we have in the northern states."

He said that the pilot agricultural schemes  currently located in nine Nigerian states and centered on rice and casava production, are expected to open up massive economic opportunities for young entrepreneurs and jobless Nigerians. 


Speaking on the Ogun State Investors' summit, Oguntayo said Skye Bank was partnering with the state  in line with its retail focus on developing SMEs through agricultual financing in line with the import substitution strategy of the Federal Government of President Mohammadu Buhari. 

"So, our intervention aligns with the program of the state. And when you talk about SME, you will be talking about agriculture; you’ll be talking about transportation and you’ll be talking about small-scale manufacturing,value chain. And that’s what we are doing with Ogun State and at the same time, we are doing with other states in the federation. 


He however, urged government at all levels to support all private sector's efforts centred on wealth and employment creation as well as other ventures that tend to improve and grow the nation's economy, adding that government only needed to create enabling business environment for investment.

DABIRI-EREWA TO ADDRESS UK PARLIAMENTARIANS ON DIASPORA ON MONDAY

The Senior Special Assistant to the President on Foreign Relations and Diaspora, Hon. Abike Dabiri-Erewa  will on Monday address the UK Parliamentarians in Westminster, London on  Nigeria’s efforts in engaging its Diaspora.

This is the statement announcing the removal of subsidy…..

“We have just finished a meeting of various stakeholders presided over by His Excellency, the Vice President of the Federal Republic of Nigeria.
The meeting had in attendance the Leadership of the Senate, House of Representatives, Governors Forum, and Labour Unions (NLC, TUC, NUPENG, and PENGASSAN).

The meeting reviewed:

1. The current fuel scarcity and supply difficulties in the country.

2. The exorbitant prices being paid by Nigerians for the product. These prices range on the average from N150 to N250 per litre currently.

3. The meeting also noted that the main reason for the current problem is the inability of importers of petroleum products to source foreign exchange at the official rate due to the massive decline of foreign exchange earnings of the federal government. As a result, private marketers have been unable to meet their approximate 50% portion of total national supply of PMS.

Following a detailed presentation by the Honorable Minister of State for Petroleum Resources, it has now become obvious that the only option and course of action now open to the government is to take the following decisions:

1. In order to increase and stabilise the supply of the product, any Nigerian entity is now free to import the product, subject to existing quality specifications and other guidelines issued by Regulatory Agencies.

2. All Oil Marketers will be allowed to import PMS on the basis of FOREX procured from secondary sources and accordingly PPPRA template will reflect this in the pricing of the product.

Pursuant to this, PPPRA has informed me that it will be announcing a new price band effective today, 11th May, 2016 and that the new price for PMS will not be above N145 per litre.

We expect that this new policy will lead to improved supply and competition and eventually drive down pump prices, as we have experienced with diesel. In addition, this will also lead to increased product availability and encourage investments in refineries and other parts of the downstream sector. It will also prevent diversion of petroleum products and set a stable environment for the downstream sector in Nigeria.

We share the pains of Nigerians but, as we have constantly said, the inherited difficulties of the past and the challenges of the current times imply that we must take difficult decisions on these sorts of critical national issues. Along with this decision, the federal government has in the 2016 budget made an unprecedented social protection provision to cushion the current challenges.

We believe in the long term, that improved supply and competition will drive down prices.

The DPR and PPPRA have been mandated to ensure strict regulatory compliance including dealing decisively with anyone involved in hoarding petroleum products.

Thank you.
SIGNED

HONOURABLE MINISTER OF STATE FOR PETROLEUM RESOURCES