News
‘If there’s no light, I won’t pay NEPA bill’… Twitter reactions to #ChangeBeginsWithMe campaign
“The long-cherished and time honoured, time-tested virtues of honesty, integrity, hard work, punctuality, good neighbourliness, abhorrence of corruption and patriotism, have given way in the main to dishonesty, indolence, unbridled corruption and widespread impunity” — President Muhammadu Buhari.
The launch of the “Change begins with me” campaign on Thursday has elicited wide-ranging reactions from Nigerians on Twitter. The Cable
Blame Nigeria’s Attorney General, not me, lawyer whose suit delays return of $550 million Abacha loot says
Godson Nnaka, the United States-based attorney involved in the controversy over the repatriation of $550 million Abacha loot, has absolved himself of responsibility in the delay of the funds being returned to Nigeria.
Mr. Nnaka was recruited in 2004 by the Nigerian government to recover funds stolen by late dictator Sani Abacha. He had instituted a case in a U.S. district court seeking 40 per cent of the recovered loot. He also asked to be made the funds’ exclusive attorney.
He was kicked out of the fund recovery case after he had spent money and time to find and recover the funds. PremiumTimes
NDLEA seizes N6m cannabis in Kogi
The National Drug Law Enforcement Agency has said it intercepted a vehicle and 35 sacks of Cannabis Sativa otherwise known as Indian hemp, weighing 1,244.4 kilogrammes in Kogi.
Commander of the agency in the state, Alhaji Idris Bello, said that the drug worth N6 million was confiscated on Friday in Lokoja.
Bello said that one suspect, Stanley Duru, a 40-year-old boutique manager from Akure, who claimed to be a passenger in the vehicle, had been arrested in connection with the seizure. Punch
Business News
Conoil Grows Profit by 176% to N2.3bn, Pays 300k Dividend
Conoil Plc yesterday reported a better-than-expected results for the year ended December 31, 2015, recording a growth of 176 per cent in profit and 200 per cent rise in dividend.
Despite the challenging operating environment, Conoil Plc recorded a profit before tax of N3.448 billion in 2015, up by 125 per cent fromN1.532 billion in 2014. The petroleum products marketing firm, rode on the back of cost containment strategy to record a higher growth in profit after tax to N2.307 billion, which is 176 per cent above the N834 million in 2014.
The company’s earnings per share also rose by 177 per cent to 333 kobo in 2015 from 120 kobo in 2014. Thisday
Concession: Why FAAN Cannot Manage 17 Airports
Stakeholders in the aviation sector have expressed doubt about the ability of Federal Airports Authority of Nigeria (FAAN) to manage 17 airports if the four major ones were given out in concession as planned.
THISDAY learnt that only the four major airports in Lagos, Abuja, Kano and Port Harcourt are generating the revenues that are being used to maintain the remaining 17 airports.
In 2015, Nigeria’s four major airports – Murtala Muhammed International (MMIA), Lagos, the Aminu Kano International Airport, Kano, the Nnamdi Azikiwe International Airport, Abuja and the Port Harcourt International Airport generated over N32billion and the money expended on their maintenance was put at over N14 billion.Thisday
Falling Oil Price Not Solely Responsible for Nigeria’s Economic Crisis – NEITI boss
Nigerian Extractive Industries Transparency Initiative (NEITI) has declared that the fall in the price of crude oil in the global market is not the only thing responsible for Nigeria’s present economic crisis, even as he blamed successive managers of Nigeria’s economy for not administering the right therapy.
The Executive Secretary of the NEITI, Waziri Adio, who spoke on Thursday while delivering a keynote address at the 2016 Academics Stand Against Poverty (ASAP) conference in Lagos, said: “The fall in oil price is not the sole culprit for our current economic troubles. Independent
Moulders increase block prices, end strike today
Block moulders in the country have concluded plans to raise the prices of blocks by between 11 per cent and over 30 per cent, following the recent increase in the prices of cement.
The new price regime for blocks is expected to come into effect immediately after the moulders call off their five-day strike on Friday (today).
The announcement came on Thursday just as the Chairman, Cement Company of Northern Nigeria Plc, Mr. Abdulsamad Rabiu, said the high cost of doing business in Nigeria was a major reason for the hike in the prices of cement. Punch
News
Ambode explains N500b bond approval
THE N500 billion bond approved by the Lagos State House of Assembly was a pool fund that will span over a period of time and not just for the 2016 appropriation year alone, Governor Akinwunmi Ambode has said.
Ambode, who spoke to reporters yesterday, said it was relevant to clarify the bond programme because the approval had been technically misrepresented in some section of the media.
The governor said, since 2007, the state has had two bond issuance programme, adding that the one approved by the assembly during the week was the third. He said it would run for between three to five years.The Nation
ONDO GOV POLL: How padded delegates’ list tore APC apart
THE emergence of former president of the Nigerian Bar Association, NBA, Mr. Rotimi Akeredolu, SAN, as the governorship candidate of the All Progressives Congress, APC, is already tearing the party apart.
Signs that all is still not well in the party even after the initial calm that followed last weekend’s governorship primaries are becoming more visible and is threatening the fragile peace in the party.
The aftermath of the primaries has claimed a Senatorial Chairman of the party, Chief Gboyega Adedipe, who stepped down following Akeredolu’s emergence. Vanguard
ICPC arraigns Orubebe over ‘N1.97b fraud’
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday said it had arraigned former Niger Delta Affairs Minister Godsday Orubebe, before a Federal Capital Territory (FCT) High Court, in Maitama District in Abuja, for alleged N1.97 billlion fraud.
The commission accused Orubebe of allegedly diverting the votes meant for the compensation of owners of properties on Eket Urban section of the East-West Road in Eket, Akwa Ibom State.
Orubebe, who had failed twice to appear in court, is facing a six-count charge before Justice Olukayode Adeniyi. The Nation
BBOG protesters not a security threat, Soyinka replies IG
Nobel laureate, Prof. Wole Soyinka, on Thursday, warned against the use of force against the #BringBackOurGirls campaigners, saying that the group should be given their space to protest.
He also noted that protests by the group could not be too much as long as the Chibok girls remained Boko Haram captives. Punch
Why INEC postponed Edo poll to September 28
The Independent National Electoral Commission on Thursday postponed the Edo State 2016 Governorship Election to Wednesday, September 28.
The decision was announced to journalists on Thursday night, about eight hours after the commission had insisted that the election would hold as scheduled on Saturday, September 10, despite warnings from security agencies.
But the leadership of the main opposition party in the country, the Peoples Democratic Party, led by Senator Ahmed Makarfi, has reiterated its earlier position that the Saturday, September 10, election date should remain sacrosanct. Punch
Drama as Police Arraign Audu’s Son for Robbery
The first son of the late former Governor of Kogi State, Alhaji Mohammed Audu, was yesterday arraigned before the Magistrate Court 11 in Lokoja for alleged armed robbery.
Mohammed was arrested on Wednesday night when he honoured the invitation of the men of the Special Anti-Robbery Squad at the ‘A’ Division office in Lokoja where he was subsequently detained and charged to court yesterday.
Other charges preferred against Mohammed, according to the Police First Information Report, included criminal conspiracy, causing grievous harm, mischief and attempt to commit culpable homicide contrary to section 97 (1), 248, 327, 298 (c) 229 of the Penal Code.Thisday
Business News
Sokoto Cement declares N1.2bn profit for 2015
The Cement Company of Northern Nigeria (CCNN) also called Sokoto Cement has declared the sum of N1.2 billion profit after tax. It also declared the gross dividend of 10 kobo per share to its shareholders for the year 2015.
Declaring this at the company’s annual general meeting held in Abuja, yesterday, the company’s managing director, Alhaji Ibrahim Aminu, said: “Despite the challenges that we face, we declared the dividend of 10k per share and profit after tax is N1.2bn. This is not bad. We have not posted any loss.”
He added that the company spent an average of N6bn yearly on energy. DailyTrust
FG to withdraw 20% equity in Lagos Free Zone
THE Federal Government has disclosed plans to withdraw its 20 percent equity holding in the Lekki Deep Sea port development, which is aimed at developing Lagos Free trade Zone at Lekki axis of Lagos State.
The Federal Government holds 20 percent equity in the project, representing, $118 million; the Lagos State Government, holds 18.5 percent, while the Tolaram Group of Singapore has 61.5 percent.
The Minister of Transport, Mr Rotimi Amaechi said this, yesterday, after a two day conference of the African Ports Evolution (APE) held in Accra, Ghana. Vanguard
Kano Disco losses N108m to vandalism in 6 weeks
The Kano Electricity Distribution Company Plc (KEDCO) said it has lost transformer oil, aluminum conductors, cables and other valuable materials worth N108, 831, 550m to vandals within the period of six weeks.
The company’s spokesperson, Mohammed Kandi, said in a statement that the spate of vandalism, energy theft and meter bypass which had recently risen in KEDCO’s areas of operation was unbearable.
The statement said that the appalling development had caused the company huge losses and setbacks within a period under review, calling on the customers, who bear the brunt, to protect installations in their areas. DailyTrust
FG stops customers from buying transformers
Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, SAN (right), and Managing Director/CEO of Abuja Electricity Distribution Company (AEDC), Engr. Ernest Mupwaya, during a courtesy call by the latter to the former, in Abuja on Wednesday.
The federal government has ordered electricity Distribution companies (Discos) to stop customers from buying transformers, saying that is the Discos’ responsibilities.
The Minister of Power, Works and Housing, Babatunde Fashola, issued the order when he received the new Managing Director of Abuja Electricity Distribution Company (AEDC), Mr Ernest Mupwaya, yesterday. DailyTrust
Cross River opens garment factory, employs 300
The Cross River State Governor, Prof. Ben Ayade, on Thursday approved the employment of 300 applicants as workers in the Calabar Garment Factory built by his administration.
The governor announced the employment after applicants from the southern senatorial districts of the state had participated in a job screening exercise by the garment factory.
In a statement made available to our correspondent, the governor said the gesture was not only in fulfilment of his dream to create jobs for citizens of the state but to inspire young people who were not from privileged homes. Punch
FG Okays loans from World Bank, China, Japan
The Federal Government has approved plans for external loans from the World Bank, China and Japan.
It specifically said Nigeria would take loans from institutions such as the World Bank, African Development Bank, Japan International Cooperation Agency, and Export-Import Bank of China, Bloomberg reported on Thursday. Punch