The hottest and most trending news articles for this week in all categories are captured in one shot. Find articles ranging from News to Sports, to Politics, to Entertainment, to Economy, to Metro plus, and many other categories. See below the top news for the week:
NEWS
- FG engaging foreign countries to deal decisively with insecurity — Lai Mohammed
Minister of Information and Culture, Lai Mohammed, said, yesterday, the Federal Government was having constructive and meaningful engagement with friendly countries, member states of ECOWAS and other regional blocks to effectively and decisively deal with insecurity in the country. Besides, he said the war should not be left to the government alone, and called for all hands to be on deck, if the war against insecurity was to be won.
The minister stated these at the opening ceremony of a two-day national conference on “Culture, peace and national security and the role of the media,” organised by the National Institute for Cultural Orientation, NICO, in Kano. Mohammed, who was represented by the Director, International Cultural Relations in his ministry, Mrs. Memunat Idu-Lah, however, reiterated the commitment of President Muhammadu Buhari’s administration to tackle security challenges confronting the nation.
He called on media practitioners to accord national interest priority in the discharge of their constitutional duties and shun fake news, hate speech and misinformation capable of worsening the security situation. Earlier in is remarks, Executive Secretary, National Institute for Cultural Orientation, NICO, Ado Yahuza, said the media could lead the fight against insecurity in the country by consistently sensitising Nigerians, adding that there can be no development in an environment confronted with violence and criminality.
- Igboho: Appeal Court Sets Aside N20bn Judgement Against DSS
The Court of Appeal sitting in Ibadan on Tuesday set aside the judgment of an Oyo State High Court sitting in Ibadan, which awarded the sum of N20 billion as damages to Yoruba secession agitator and activist, Chief Sunday Adeyemo, aka Sunday Igboho against the Department of State Security (DSS). Justice Muslim Hassan in his lead judgment in the appeal filed by the Attorney General of the Federation, Department of State Services and Director, Department of State Services in Oyo State, to contest the judgment of the lower court. It will be recalled that Justice Akintola had awarded the sum of N20 billion as damages against the Attorney General of the Federation, Abubakar Malami( SAN), and the Department of State Services (DSS) over the invasion of Igboho’s Ibadan residence on July 1, 2021.
The appellants filed six grounds of appeal; asking the court to determine if the trial judge was right to determine the issue of fundamental human rights; if the trial judge was right to assume jurisdiction of the case against a Federal Government agency; if the originating motion of the respondent was competent; if the respondent was right to take up arms against the government in his quest for self-determination; if the trial judge was right to enter judgement in favour of the respondent and if the trial judge was right to award damages to the respondent.
Justice Hassan had in his judgment held that Justice Ladiran Akintola, acted on the wrong principles of law in awarding the cost to Igboho, adding that the judgment of the lower court was not supported by any evidence but by two affidavits. He said Justice Akintola cannot assess damages using his own conceived parameters as there was no evidence that quoted the value of damages at Igboho’s residence. The court further held that there was no evidence including an autopsy to support the claim that two people were killed in the activist’s residence during the invasion.
Justice Hassan also ruled that the lower court assumed jurisdiction of the case to look at the enforcement of the fundamental human rights suit filed by Igboho without looking at the merit of the case, adding that the court should not have assumed jurisdiction of the case without looking at its merit. According to Justice Hassan, the case did not qualify under the enforcement of human rights because there is a threat to national security.
- Pipeline Protection: Akeredolu Knocks FG For Permitting ‘Non-State Actors’ To Bear Arms
Ondo State Governor, Rotimi Akeredolu (SAN), has criticised the Federal Government for permitting “non-state actors to bear heavy assault weapons while denying the same privilege to the states and federating units” with joint security outfits like the Amotekun CorpsAkeredolu stated this is a statement he signed on Wednesday and made available to Channels Television by his Chief Press Secretary, Richard Olatunde. The chairman of the South-West Governors’ Forum and the Southern Governors’ Forum condemned the decision of the Federal Government to award a contract for the protection of pipelines in the South-South to a private security company.
The Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, had on Tuesday described as the right decision, its resolve to award the contract for the surveillance of pipelines to a company that a former leader of the Movement for the Emancipation of Niger Delta, Government Ekpemupolo, popularly known as Tompolo, has an interest in.
Kyari, who spoke at the 49th session of the state house briefing at the Presidential Villa, Abuja, said, “We need private contractors to man the right of way to these pipelines…We don’t have access to that and therefore, we put up a framework where contractors were selected through a tender process for people who can do it, not everyone can do it and Tompolo is just mentioned, we’re dealing with corporate entities.
In 2020, concerned about the worsening security situation in the South-West geopolitical zone, the governors of the six states inaugurated the South-West security network codenamed Amotekun. The South-East governors followed suit in 2021 and inaugurated a regional security network popularly known as Ebube Agu. But the Federal Government has denied both regional outfits a license to bear arms. Akeredolu in his statement on Wednesday said state government-owned security outfits actually need permission to bear assault rifles and not non-state actors or private security firms.
- NNPC can’t justify N6.34tn petrol subsidy – Customs
The Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (retd.), has stated that the Nigerian National Petroleum Company Limited (formerly Nigerian National Petroleum Corporation) cannot justify the volume of Premium Motor Spirit (petrol) being consumed in the country daily to warrant the over N6.34tn subsidy payment on the commodity annually.
Ali, in his presentation to the House of Representatives’ Committee on Finance at the continued hearing on the proposed 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper in Abuja on Thursday, argued that the NNPC cannot scientifically prove the 98 million litres/day consumption it was claiming, alleging that the nation’s oil company was supplying an excess of 38 million litres of PMS daily. The committee had asked Ali about the like deficit of between N11tn and 12tn in the 2023 budget as proposed in the 2023-2025 MTEF/FSP.
The Federal Government is proposing a budget with estimates totalling N19.76tn, while the deficit will hover between N11.30tn and N12.41tn in the 2023 fiscal year. The Minister of Finance, Budget and National Planning, Zainab Ahmed, who appeared before the committee earlier on Monday, had decried that the government might be unable to provide for treasury-funded capital projects next year, especially due to dwindling revenue and annual payment of N6.34tn subsidy on petrol.
However, the NCS boss faulted the NNPC on its subsidy claims, saying, “I remember that last year we spoke about this. Unfortunately, this year, we are talking about subsidy again. The over N11tn we are going to take as debt, more than half of it is going for subsidy. The issue is not about smuggling of petroleum products. I have always argue this with NNPC.”
Ali added, “If we are consuming 60 million litres of PMS per day, by their own computation, why would you allow the release of 98 million litres per day? If you know this is our consumption, why would you allow that release? Scientifically, you cannot tell me that if I fill my tank today, tomorrow, I will fill the same tank with the same quantity of fuel. If I am operating a fuel station today and I go to Minna depot, lift petrol and take it to Kaduna, I may get to Kaduna in the evening and offload that fuel. There is no way I would have sold off that petrol immediately to warrant another load. So, how did you get to 60 million litre per day? That is my problem.
- ‘FG’s plan to borrow N11tr, spend N3.36tr on subsidy, gross insensitivity’
Coalition of South East Youth Leaders, COSEYL, has expressed shock over the alleged plan by President Muhammadu Buhari-led administation to borrow another N11 trillion to finance the 2023 budget. The group said going for fresh loan would further worsen Nigeria’s economic woes as the monies borrowed before now have not been repaid by the Federal Government. COSEYL described the move as a gross insensitivity and a confirmation that Buhari’s lacks the capacity to manage Nigeria’s challenges.
In a press statement issued by its President General, Goodluck Ibem, COSEYL, urged Nigerians to resist any further attempt by the current administration to enslave the country. COSEYL argued that instead of plunging Nigeria into irredeemable debt, it would be better for the President to honourably resign if he felt overwhelmed by the complex challenges of the country.
COSEYL called for the resignation of NNPC boss for the failure of the corporation to remit revenue to the federation accounts. “It’s time for the resignation of the Group Managing Director, GMD of NNPC and her activities properly screened and investigated by an impartial independent audit panel. The gross incompetence and corruption by the NNPC is one of the main reason for the excessive borrowings. We therefore call on the senate not to approve another borrowing but rather institute an impartial Independent Audit and Recovery Panel that will probe and investigate all the monies generated from NNPC, taxes and excise duties, contracts awarded, monies generated from Gold and other solid minerals, Abacha loots and other loots recovered by the government.”
- Presidency lacks commitment to protect Nigerians, Ortom insists
Benue State Governor, Samuel Ortom, has asked President Muhammad Buhari, to rescue the nation from bandits, kidnappers and terrorists. In a statement signed by his Chief Press Secretary, Nathaniel Ikyur, and made available to journalists in Makurdi on Thursday, the governor said the issue of insecurity in the country was a reality that the Presidency does not want people to talk about.
Ortom, who was reacting to a statement issued by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, asked the Presidency to tell Nigerians steps that had been taken to end killings by terrorists in the country. The statement quoted the governor as saying that, “Each time I speak about the dreadful manner in which the Muhammadu Buhari administration has handled the security situation in the country, his media aides and hangers-on come out attacking my personality instead of addressing the issues I raised.
“If the Presidency assumes that I am wrong about my statements regarding the failure of the present government to tackle insecurity, I urge them to hold a referendum to get the feelings of Nigerians towards their ineptitude, complicity, and clear lack of commitment and sincerity in protecting the people. It is sad and unfortunate that the likes of Garba Shehu have zero sympathy for the families of those being killed daily by Fulani terrorists.”
The governor said the presidential spokesman blew the opportunity to prove that he (Ortom) raised a false alarm about the worsening security situation in the country. He added, “Hundreds of our citizens are held captive by terrorists in the forests. I expected Shehu to tell Nigerians what efforts the Federal Government has made to release the hostages.
Ortom insisted that the Presidency has failed the integrity test and should rather accept its failure, apologise to Nigerians, and seek help to salvage the situation. “It is clear that the loud-mouthed presidential media aide is unaware that other states such as Zamfara, Kaduna, Sokoto, and even Katsina, where the President comes from, are under siege. Is that also my false alarm that has given rise to the killings in other parts of this country? In case the likes of Garba Shehu are not aware, the majority of Nigerians wake up to face daily frustrations and live in constant fear of who will be the next victim of terrorists.
POLITICS
- Shettima Sabotaged Jonathan’s Efforts To Forestall Chibok Abduction – PDP
The Peoples Democratic Party (PDP) has knocked All Progressives Congress (APC) vice presidential candidate, Kashim Shettima, for trying to share the stage of fame with former President Goodluck Jonathan after he allegedly “sabotaged and frustrated Jonathan’s administration in its effort to curb insecurity in Borno State”. Shettima was governor of Borno from May 2011 to May 2019 whilst Jonathan was Nigeria’s President between 2010 and 2015. Shettima and APC presidential candidate, Bola Tinubu, had during the week attended the 70th birthday event of the Catholic Bishop of Sokoto Diocese, Mathew Kukah, and they posed in a photograph with the revered cleric.
But the PDP National Publicity Secretary, Debo Ologunagba, in a statement on Thursday slammed the duo for their “disgraceful and hypocritical” act after allegedly vilifying Jonathan. The PDP spokesman also said it is shameful that Tinubu and Shettima now distance themselves from the “abysmal failure” of President Muhammadu Buhari.
“In a desperate design to whitewash their battered public image, identifying with the obvious successes of the PDP and in an attempt to posture as statesmen, the APC presidential candidate, his running mate, Sen. Kashim Shettima, and other APC leaders shamelessly orchestrated a photo opportunity with the distinguished and successful former President Goodluck Jonathan of the Peoples Democratic Party (PDP). This is a patriotic Nigerian leader whose PDP-led purposeful and successful government the APC leaders viciously harassed, constantly insulted, labelled, sabotaged and discredited for their selfish power-grabbing enterprise,” the statement partly read.
“Nigerians have not forgotten how Asiwaju Tinubu callously vilified and pilloried Dr. Jonathan, spewed hate against his administration, and reportedly funded a near riotous protest which was inflamed by concocted economic lies, propaganda, and false statistics to discredit the Jonathan-led PDP administration. Nigerians can equally recall how Sen. Shettima as governor of Borno State sabotaged and frustrated Jonathan’s administration in its effort to curb insecurity in Borno State.
“Records still have it on how the APC vice presidential candidate as governor of Borno State failed to act on a security report and directive to close schools in remote parts of Borno State and relocate students to the more secure capital of Maiduguri to write their GCE examinations; thus creating the opening for the cruel abduction of school girls in Chibok, Borno State. Nigerian will also note how the then Governor Shettima abdicated his duty as a chief security officer and reportedly withheld vital security information in preference to non-state actors including terrorist elements, thereby frustrating the timely rescue of the abducted Chibok girls.”
- We’ll help PDP lose in 2023, Wike replies Ayu
The war of words between the Rivers State governor, Nyesom Wike and his party’s national chairman, Senator Iyorchia Ayu is not abating. And it may not any time soon. On Thursday, Wike threatened to assist the Peoples Democratic Party (PDP) lose the 2023 presidential election. He spoke at the commissioning of a road in Omerelu community of Ikwerre Council. The governor was responding to Wednesday’s comments by Ayu that those asking him to step down were children.
In an interview with BBC Hausa, Ayu had said: “I have not violated any rule; in fact, I am working to bring reforms to the party. I am truly not bothered by the unnecessary controversy being generated. When we started PDP, these children were not around. They are children who do not know why we formed the party. We will not allow any individual to destabilise our party.”
However, in his response, Wike described Ayu as a ‘greedy’ man who was only after his interest. He said it was obvious that Ayu wanted the PDP to lose in 2023 and he was willing to assist him achieve that. According to Wike, “you can imagine what power can do. You can imagine the ingratitude, how people can be ingrates in their lives. I thought as chairman of a party, which wants to win elections, your business is to bring peace to your party.” He continued, “your business is not to divide your party, nor to show arrogance to your party.
“Yes, the children brought you to be chairman of the party. The children brought you to make you chairman. Ayu, you were impeached as Senate President. Ayu, you were sacked by President Obasanjo in his administration as minister twice. Arrogance cannot take you anywhere. Now we have seen that you don’t want the party to win election, we will help you. Ayu, you said you founded this party, but you left the party in 2007. You founded a company, you left the company, people stood and brought up the company to what it is today, you have no moral right to still come and claim that you founded that company, you left with your shares. You abandoned PDP at one time, moved to another party and therefore cannot have equal stake with those who stayed back to rebuild the party.
“You must show integrity, as you sell our party to Nigerians that we want to take over power. You must therefore convince Nigerians that we have the integrity to do so. You are the driver that will drive the vehicle to convey us to go our destination. If the driver has no integrity and cannot show honesty, how do you convince Nigerians? If you tell Nigerians something and cannot do it, is it when you enter into power that you will do it?”
Wike explained that Ayu had, by self-volition, promised to relinquish his chairmanship as a Northerner if an aspirant from the North emerges as presidential candidate of the PDP. The governor told Ayu to be a man of honour and keep his promise by relinquishing that position.
Performing the inauguration of the project, former Southwest Deputy National Chairman of PDP, Chief Olabode George, declared that the issue of the national chairman must be addressed before commencement of campaign for 2023 general elections. According to the life member of the Board of Trustees (BoT), Ayu’s utterances show he is ‘immature’.
- 80% of crude oil being stolen with connivance of N’Delta govs —Adebayo, SDP presidential candidate
Presidential candidate of the Social Democratic Party, SDP, for the 2023 general election, Prince Adewole Adebayo, has said 80 per cent of the country’s crude oil were being stolen with the connivance and quietude of state governors in Niger Delta, adding that the party was out to end the nightmares of the oil rich region.
Speaking with newsmen after commissioning the SDP Campaign Office around Egborode town near Warri, Delta State, Adebayo said resources were being leaked by Niger Delta people, reiterating that the liberation of Nigeria must start from the region. Flanked by the gubernatorial candidate of the party in the state, Olorogun Kenneth Gbagi, Adebayo said: “As l am talking to you, there are people stealing billions of dollars worth of oil. I am not saying injustice of the past but continuous robbery on-going now.
“For the past five months, l have been shouting that 80 per cent of our crude oil is being stolen. Why am I shouting? I am shouting because that is the money that can make a Dubai out of every city in Nigeria that is being stolen by the government elected into office and it is being stolen with the connivance and quietude of the governors, who are from Niger Delta, who go to Federal Executive Council and Federal Allocation Committee and come back to tell you that NNPC has no money but the governors have wads of dollars in their offices.
“So, they are stealing the wealth, robbing the poor. So, what kind of justice are you talking about:? As l am talking, if the Nigerian government wants to stop $4.4 billion from being stolen this month, it can take the decision now. The problems of Nigeria are not external, they are not natural, they are not structural. The government itself is the problem because, for everything that you cry about that makes you to gnash your teeth and shed tears, people in government are making money out of it and government has become callous.
- I Will Allow Nigerians To Vote Who They Want —Buhari
President Muhammadu Buhari has restated why his administration does not interfere in elections, telling governors of the All Progressives Congress (APC) in a meeting on Tuesday that he will allow Nigerians to vote for whoever they want. Speaking at the meeting, which took place in his office at the Presidential Villa, Abuja, he assured that governing party will continue to bequeath strong political institutions that reflect their choices, through non-interference in elections, citing the outcome of polls in Ekiti, Anambra and the Osun States as indicators.
The President noted that non-interference in elections gives credence to the political process, ensures participation and inclusiveness, and shows that the governing party respects the electorate. He said under his leadership, the APC will continue to respect Nigerians by ensuring that their votes count and the people’s voice matters in choosing political leaders at different levels.
In a statement issued by Femi Adesina, Special Adviser to the President (Media & Publicity), quoted Buhari as saying: “I want Nigerians to know that we respect them, and for us to show that we will allow them to vote who they want. For the 2023 elections, President Buhari said the government will also ensure that Nigerians don’t get intimidated, or humiliated by those in positions, or the more privileged. President Buhari urged the party’s political leaders to intensify efforts in “thinking, meeting and strategizing for the 2023 elections.’’
- 2023: SERAP, 6 other CSOs ask political aspirants to publicly declare assets
Ahead of 2023 general elections,some civil society organisations in the country have asked political aspirants and parties to publicly declare their assets. They also called on the to declare the utilization, and retiring of thelr 2019 campaign funds in compliance with sections 85- 90 of the 2022 Nigerian Electoral Act, as a sign of good faith and commitment to publishing same after the 2023 elections.
The groups which include Connected Development,CODE,Socio-Economic Rights and Accountability Project,SERAP, Enough Is Enough,Budgit,Yiaga Africa,Programme Leadership Support Initiative,CJID and Accountability Lab Nigeria,said these at a news conference, Thursday,in Abuja.
Executive Director, CJID,Dr Tobi Oluwatola, and Mr Oluseun Onigbinde,Global Director,BudgIT Foundation, speaking, equally demanded financial accountability from the Independent National Electoral Commission,INEC. According to them,there was also the need for the National Assembly to oversee full operational independence of INEC ahead of the 2023 elections and yield to numerous calls for transparency regarding its budget and auditing of its finances.
These they noted, will “strengthen democracy in Nigeria through inclusive and accountable leadership with integrity and enhancing public trust in governance.” They tasked all political parties and political aapirants to declare plans to address negative behaviours that lead to violence, such as vote buying and publicly reject vote buying before and during the 2023 elections.
The groups asked aspirants and parties to reinforce Nigeria’s value system in line with the National Pledge, “To be faithful, loyal and honest. To serve Nigeria with all my strength. To defend her unity, and uphold her honour and glory.” They urged the parties and aspirants to equally,”Adopt a Gender Equality and Social Inclusion (GESI) approach in their campaigns and political engagements toward inclusive governance, and a plan to advance the Gender and Equal Opportunities Bill.”
ECONOMY
- Osinbajo Proposes Debt-For-Climate Swap Deal In US Lecture
Vice President Yemi Osinbajo has proposed a Debt-For-Climate (DFC) swap deal to allow African countries help advance the course of global net-zero emissions targets and facilitate energy access. According to a statement signed by the Vice President’s spokesperson, Laolu Akande, Osinbajo made the proposal during a lecture on a just and equitable energy transition for Africa at the Center for Global Development in Washington D.C, Prof Osinbajo.
He stated that “debt for climate swaps is a type of debt swap where bilateral or multilateral debt is forgiven by creditors in exchange for a commitment by the debtor to use the outstanding debt service payments for national climate action programs. “Typically, the creditor country or institution agrees to forgive part of a debt, if the debtor country would pay the avoided debt service payment in a local currency into an escrow or any other transparent fund and the funds must then be used for agreed climate projects in the debtor country.”
Justifying the rationale behind such a debt swap deal, the Vice President submitted that the commitment to it would “increase the fiscal space for climate-related investments and reduce the debt burden for participating developing countries. He added that to make this efficient “there are of course significant policy actions necessary to make this acceptable and sustainable.”
- Dangote refinery gets 300,000 barrels/day from NNPC
The Nigeria National Petroleum Corporation Limited will have the first right of refusal to supply the Dangote refinery with about 300,000 barrels of crude oil per day for the next 20 years. The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, disclosed this to journalists when he appeared at the 49th Session of the State House Ministerial Briefing organised by the Presidential Communications Team, at the Presidential Villa, Abuja. A supply of 300,000 per day in 20 years brings the total supply to 2.1 trillion by the NNPC.
According to him, the corporation had succeeded in locking down the huge supply as part of the Federal Government’s means of guaranteeing sufficient petroleum products supply for Nigeria.
“We have secured the right to sell up to 300,000 barrels of crude oil to the Dangote refinery for the next 20 years. Not only that, by right, we also have access to 20 per cent production from that plant,” he said.
He alleged that stolen crude oil products were now stored in places of worship such as churches and mosques. He also noted that various law enforcement agencies had arrested 122 persons involved in pipeline vandalism and oil theft from April to August of 2022.
This was as he justified the government’s recent move to hire private entities to safeguard the network of oil pipelines crisscrossing the country. According to him, the NNPC operatives discovered that stolen petroleum products were stored in places of worship with the consent of the clergy, members and neighbours. He claimed that in one instance, at least 295 illegal connections were spotted on a 200km stretch of pipeline.
- 2023: FG to borrow N11tr, spend N3.36tr on subsidy
Ahead of the 2023 budget presentation, the Federal Government, on Tuesday, insisted that petroleum subsidy would remain in place until mid-2023. In addition, the government will borrow over N11 trillion and sell national assets to finance budget deficit next year. The Minister added that the Federal Government is proposing an aggregate expenditure of N19.76 trillion for the 2023 financial year, a 15.37 per cent increase from the amount earmarked in the 2022 budget, with a projected deficit of N11.30 trillion, 54 per cent higher than the previous budget’s estimated deficit.
This was disclosed by the Minister of Finance and National Planning, Zainab Ahmed, while appearing before the House of Representatives Committee on Finance in Abuja, to defend the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
She also said the government’s budget deficit is expected to exceed N12.42 trillion if it should keep petroleum subsidy for the entire 2023 fiscal cycle. According to the Minister, the government is proposing to spend only N3.36 trillion for petrol subsidy in 2023 based on the 18-month extension announced early 2022.
Recall that last week, the Minister had disclosed that government was spending N18.39 billion daily on PMS. Zainab said the Federal Government was projecting the total revenue of N8.46 trillion, out of which N1.9 trillion is expected to come from oil-related sources while the remaining is to come from non-oil sources.
Meanwhile, the Federal Government is expected to peg crude oil price at $70 per barrel with projected daily oil production fixed at 1.69 million barrels per day at an exchange rate of N435.57 per dollar, while real Gross Domestic Product (GDP) is projected at 3.7 per cent and inflation at 17.16 per cent.
- W’Bank ready to help Nigeria phase out subsidies
The World Bank Group President, David Malpass, has said that the bank is ready to support Nigeria in phasing out regressive fuel subsidies while increasing social assistance for the poor and vulnerable. He also stressed the need for a unified exchange rate in Nigeria, which would significantly improve the business-enabling environment in Nigeria, attract foreign direct investment, and reduce inflation.
According to a statement published on the Bank’s website on Thursday, Malpass said this when he met with Vice President Yemi Osinbajo of the Federal Republic of Nigeria. The statement read in part, “President Malpass encouraged a decisive move toward exchange rate unification and stabilization by Nigeria, highlighting the economic benefits for the Nigerian people. President Malpass emphasized to Vice President Osinbajo that a unified exchange rate will significantly improve the business enabling environment in Nigeria, attract foreign direct investment, and reduce inflation.”
The statement noted that Malpass and Osinbajo discussed Nigeria’s Energy Transition Plan. It added that Malpass welcomed Nigeria’s commitment to achieving universal energy access and reducing GHG emissions while maintaining reliable baseload. He further stressed the importance of integrating climate and development, as well as the need for an enabling policy and regulatory environment alongside strengthened institutions in the energy sector.
The statement also noted that Malpass and Osinbajo discussed the importance of increasing domestic revenues through broadening Nigeria’s tax base and increasing the efficiency of tax administration. In January this year, the Federal Government ignored warnings from economists and multilateral agencies such as the World Bank and the International Monetary Fund, deciding to retain the controversial fuel subsidies for another 18 months following threats of protests by the Nigerian Labour Congress and other interest groups. In a recent report, it was disclosed that the cost of fuel subsidy was estimated to increase by 369.93 per cent from 2021 to 2023.
- Navy disagrees with Petroleum Ministry, others over quantity of stolen oil
The Nigerian Navy has said it was impossible to have up to 200,000 barrels of crude oil stolen and ferried through Nigeria’s waters. This is contrary to the position of the Ministry of Petroleum Resources and other agencies under it which gave the figure at between 200,000 – 400,000 barrels per day, bpd. The Ministry and other government-owned institutions have repeatedly screamed over the massive crude oil theft in the Nigeria’s territorial waters, adding that it culminated in huge revenue losses to the government.
But speaking in a television interview on Monday night, the Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo, said it was practically impossible for such quantity of crude to be stolen daily, given the deployments of Navy Ships and other operational platforms spread across the nation’s maritime domain.
Explaining further, the CNS said oil losses could be as a result of metering errors on the operating platforms, while the volume of crude oil shut-ins from non-production are often added to oil theft data instead of accounting for them as oil losses by the authorities. “This should not be. Some sources also claim that about 200,000 – 400,000 barrels per day are being considered stolen. Most of these claims are definitely outrageous and they are unrealistic,” he insisted.
Buttressing the fact that it is practically impossible to steal such volume of oil without being detected, Admiral Gambo said, “Let us even briefly analyse this. For instance, 100,000 barrels of crude oil is equivalent to 15,800,000 litres of crude, which requires a five-ton barge making 3,160 trips per day to convey this product out of the creeks.
BUSINESS
- FG vows to make Nigeria Africa’s largest wheat producer, exporter
As Nigeria and other African countries suffer wheat shortage, the Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, Tuesday, vowed to ensure Nigeria ranks Africa’s largest wheat producer and exporter. Abubakar made the declaration in his keynote address delivered at the Stakeholders Validation Workshop of the National Wheat Strategy Document for Self-sufficiency in Nigeria held in Abuja.
He said this lofty dream can be achieved if Sudan and Ethiopia can do it why can’t Nigeria achieve more and export to rest of the world. He said: “The wheat industry has been a serious concern to the government of this country because our national requirement of wheat is 5.7 million metric tonnes annually while our production is only 420,000 metric tonnes as against the 71,000 metric tonnes.
“According to the Central Bank of Nigeria statistical report of 2020, Nigeria imported over $6 billion worth of wheat from 2016 to 2020. This is quite worrisome and unsustainable for a crop that could be produced locally to meet our national demand and beyond.
However, the Minister said 10 years is too long to achieve self-sufficiency in wheat production and others. In a goodwill message, the Director General of Nigeria Country Department of the African Development Bank, Lamin Barrow, who was represented by Chief Agro-Industry Officer, AfDB, Nigeria, Engr Tabi Karikari, expressed optimism that Nigeria would emerge top in wheat production. Barrow also made it known about several interventions made by the AfDB in Nigeria’s agricultural sector.
- Investors lose N283b in August amid uncertainty, low purchasing power
Despite improved earnings and dividend announcements from listed companies, uncertainty in the global economy, coupled with prevailing macroeconomic challenges in the country, especially insecurity and low purchasing power, the 2023 election fear has continued to take a toll on the equities sector of the Nigerian Exchange Limited (NGX) as investors lost N283 billion or 1.07 per cent of the market value in the month of August.
Specifically, the overall market capitalisation of listed companies closed on August 31, 2022 at N26.880 trillion from N27.163 trillion when it opened for trading in August 2022. Similarly, the NGX All-Share Index depreciated by 1.07 per cent to close at 49,836.51 basis points on August 31, 2022 from 50,370.25 basis points it opened for the month trading.
Although the price of many blue-chip firms have fallen below fair value and are currently trading at a very low price compared to their fundamentals, investors are showing apathy towards the stocks. The equities market in August witnessed a hike in the inflation rate (19.64 per cent as of July 2022), even as the Central Bank of Nigeria (CBN) increased its Monetary Policy Rate (MPR) to 14 per cent and alongside scarcity of foreign exchange that has led to apathy from foreign investors.
A review of sectoral indices during the month indicated that the NGX Industrial Index suffered the highest decline in August, dropping by 13.8 per cent to 1,777.14 basis points from 2,062.30 basis points it opened for trading. Oil & Gas Index index depreciated by 4.3 per cent to 532.15 basis points from 556.28 basis points it opened for trading in August.
On the other hand, NGX banking index added 2.4 per cent to close at 387.41 basis points from 378.21 basis points, while NGX Insurance Index rose by 7.9 per cent to close at 180.23basis points in August from 167.04 basis points it closed for trading in July. Reacting on the development, an analyst at PAC Holdings, Wole Adeyeye, said some investors migrated from stock market to fixed-income market in a move to take advantage of high yields, which was triggered by the recent hike in policy rate.
EDUCATION
- Indefinite strike: FG summons varsity councils, vice-chancellors as parents grumble
The Federal Government has invited pro-chancellors, vice-chancellors and chairmen of governing councils of federal universities to a meeting in Abuja on September 6 as part of efforts to resolve the ongoing strike by the Academic Staff Union of Universities. The meeting was convened by the National Universities Commission, which stated that participants would review actions of the government on the strike.
The letter inviting the heads of the universities to the meeting was signed by the NUC’s Deputy Executive Secretary, Administration, Chris Maiyaki and obtained by one of our correspondents on Tuesday. This came to the fore as the strike by ASUU entered the 198th day amid the decision of the university lecturers to declare a comprehensive industrial action. Stakeholders, particularly parents, berated ASUU and the government, lamenting that the future of their children was being toyed with. ASUU on February 14 began the strike due to what it described as “failure” on the part of the government to meet its demands.
The demands include the payment of earned allowances, payment of revitalisation funds to universities, creation of visitation panels and implementation of the University Transparency Accountability Solution instead of the Integrated Payroll and Personnel Information System for the payment of workers in the ivory towers. The government set up a committee headed by Prof Nimi Briggs to look into the demands of the union and review the 2009 ASUU-FG agreement. ASUU leaders, who walked out of a meeting with the government on August 16, alleged that no offer was made to them.
But the Minister of Education, Adamu Adamu, in an interview with journalists, said non-academic unions had agreed to end their strike. The minister said university lecturers insisted that they should be paid for the period they did not work, a request he said the government was not ready to grant.
ASUU, after its National Executive Council meeting in Abuja on Sunday and Monday, said it had decided to declare “a comprehensive, total and indefinite strike” because of the government’s failure to meet its demands. In its invitation letter, the NUC the meeting on September 6 with pro-chancellors and vice-chancellors would review actions taken on the strikes by university unions with a view to reaching a consensus.
- Nigeria now has 20 million out-of-school children, says UNESCO
United Nations Educational, Scientific and Cultural Organisation (UNESCO), in its latest global data, said Nigeria now has about 20 million out-of-school children. It said there are 244 million children and youth between the ages of six and 18 worldwide who are still out of school. According to the statistics, India, Nigeria and Pakistan have the highest figures for out-of-school children globally. The figure in Nigeria was between 10.5 and 13.5 million. But with insecurity and kidnapping of school children, most parents are not disposed to sending their wards to school.
UNESCO announced the figures in a statement, part of which reads: “The new estimates, published online by the UNESCO Institute for Statistics (UIS) and Global Education Monitoring (GEM) Report, showed that sub-Saharan Africa remains the region with the most children and youths out of school. It is also the only region where this number is increasing; out-of-school rates are falling more slowly than the rate at which the school-age population is growing.
According to Director of the UNESCO Institute for Statistics, Silvia Montoya, efficient use of available data is important to address the gaps towards achieving the fourth goal of the Sustainable Development Goals (SDGs).
UNESCO’s Assistant Director General for Education, Stefania Giannini, said: “Global out-of-school numbers are lower than we thought, but far too many children are still missing out. Countries have committed to benchmarks to slash out-of-school numbers by over half by 2030. We must identify solutions during the Transforming Education Summit called by the United Nations Secretary-General, this September, so that countries can deliver on these pledges. All children should have access to quality education.”
HEALTH
- 6,068 Nigerian doctors move to UK under Buhari
No fewer than 6,068 medical doctors moved to the United Kingdom since the regime of President Muhammadu Buhari, started in 2015. According to data obtained from the General Medical Council of the United Kingdom, the total number of Nigeria-trained doctors who migrated to the UK as of August 30, 2022 stood at 10,096. Nigerian doctors who got medical qualifications in schools outside the country are not included in the data.
The data revealed that 233 Nigerian doctors passed the examination to practise in the UK in 2015. The number increased to 279 in 2016, while the figure was 475 in 2017. In 2018, the figure rose to 852 while it further increased to 1,347 in 2019. In 2020, the figure was 833 despite the fact that the GMC closed operations during the COVID-19 pandemic.
The figure for 2021 was put at 932. So far in 2022, the data revealed that 1,107 Nigerian-trained doctors have been licensed to practise. Presently, Nigeria has the third highest number of foreign doctors working in the UK after India and Pakistan.
In an interview with The PUNCH on Tuesday, the Publicity Secretary of the Nigerian Association of Resident Doctors, Alfa Yusuf, described brain drain as a menace bedevilling the health sector.
Yusuf expressed fear that it may get to a stage where Nigeria will have to be scouting for doctors in the country. The President of the Nigeria Medical Association, Uche Ojinma, had, in an earlier interview with The PUNCH, noted that the brain drain being witnessed in the country would worsen the health sector.
The Minister of Health, Ehanire Osagie, had claimed that Nigeria has enough doctors. Osagie, however, could not be reached for comments as calls and messages sent to him via his known telephone number were unanswered. Other popular destinations for Nigeria-trained doctors include the United States, Canada, Qatar, Saudi Arabia and Australia.
WORLD
- Man Arrested For Attempted Shooting Of Argentina Vice President
A man attempted to shoot Argentine Vice President Cristina Kirchner near her home in Buenos Aires on Thursday, a shocking incident that prompted a wave of sympathy from Latin American leaders. “Cristina remains alive, because, for a reason that has not yet been technically confirmed, the gun which contained five bullets did not fire despite the trigger having been pulled,” Argentina’s President Alberto Fernandez said in an address to the nation. This is the most serious event that has happened since we restored democracy” in 1983, Fernandez said.
Footage of the incident showed the man pointing a handgun at close range at Kirchner, who was the country’s leader from 2007 to 2015 and is now facing corruption charges. The incident took place in Buenos Aires’ upscale Recoleta neighborhood.
Security Minister Anibal Fernandez said a suspect had been arrested on Thursday night but investigators still needed to examine the crime scene and circumstances surrounding the incident.
Local media reported that the suspect was a 35-year-old Brazilian national. President Fernandez declared Friday a public holiday to allow people to “express themselves in defense of the life of democracy and in solidarity with our vice president.”
- Biden Slams Trump ‘Extremist’ Assault On Democracy
US President Joe Biden took fierce aim Thursday at Donald Trump and his “extremist” supporters, labeling them enemies of American democracy in a prime-time address that sought to fire up voters ahead of key midterm elections. Speaking in Philadelphia, the cradle of US democracy, the president launched an extraordinary assault on those Republicans who embrace Trump’s “Make America Great Again” ideology — and urged his own supporters to fight back.
“Donald Trump and the MAGA Republicans represent an extremism that threatens the very foundations of our republic,” thundered Biden, speaking near the spot where the Declaration of Independence and the US Constitution were adopted more than two centuries ago. They embrace anger. They thrive on chaos. They live not in the light of truth but in the shadow of lies.” There is no place for political violence in America. Period. None. Ever,” warned the 79-year-old Democrat — in a reference to last year’s assault on the US Capitol by hardline Trump supporters refusing to accept his defeat.
With control of Congress in the balance come November, Biden appealed directly to mainstream Republicans to join forces with Democrats and repudiate Trump’s brand of politics — which still holds sway over much of his party. And he made it clearer than ever that Democrats intended to make the midterms a referendum on Trump, saying the Republican Party was wholly “dominated, driven and intimidated” by the former president and his MAGA agenda.
Biden’s speech — billed as an address on the “battle for the Soul of the Nation” — harked back to an article he published in The Atlantic magazine in 2017, after a deadly white nationalist rally in Charlottesville, Virginia, that he says spurred his presidential run. “We are living through a battle for the soul of this nation,” Biden wrote then.
After his election in 2020, the veteran politician initially planned for more dialogue with moderate Republican lawmakers, and through economic and social policies aimed at the middle class. But the talk of reconciliation has died down, as polls seem to indicate the Democratic leader is better served by being more aggressive.
- Myanmar’s Suu Kyi Sentenced To Three Years For Electoral Fraud – Source
A Myanmar junta court sentenced ousted leader Aung San Suu Kyi to three years in jail for electoral fraud during 2020 polls her party won in a landslide, a source with knowledge of the case said Friday. Suu Kyi was “sentenced to three years imprisonment with hard labour”, the source said, adding that the Nobel laureate, 77, appeared to be in good health.
Detained since the putsch last year, Suu Kyi has already been convicted of corruption and a clutch of other charges by a closed junta court and sentenced to 17 years in prison. The military alleged widespread voter fraud during the November 2020 election, won resoundingly by Suu Kyi’s National League for Democracy (NLD) party, although international observers said the poll was largely free and fair.
The military has since cancelled the result and said it uncovered more than 11 million instances of voter fraud. In a speech broadcast last month, Min Aung Hlaing did not mention a date for fresh polls but said they could only be held when the country was “peaceful and stable”. More than 2,200 people have been killed and over 15,000 arrested in the military’s crackdown on dissent since it seized power, according to a local monitoring group.
- IAEA Chief Says Integrity Of Ukraine Nuclear Plant ‘Violated’
The head of the UN nuclear agency on Thursday said the “physical integrity” of a Russian-held Ukrainian nuclear plant had been “violated” following frequent shelling, on his team’s first visit to the facility. Russian forces seized control of the Zaporizhzhia nuclear plant in southern Ukraine, Europe’s largest, and the surrounding region shortly after the February 24 invasion. Both sides have traded blame for recent shelling near the plant lying on the frontline, sparking fears of a nuclear disaster.
A 14-strong team of inspectors from the International Atomic Energy Agency arrived at the facility on Thursday to conduct “security and safeguards activities” after a risky journey across the frontline and early-morning shelling of the area. “It is obvious that the plant and physical integrity of the plant has been violated several times,” IAEA head Rafael Grossi told reporters after returning to Ukrainian-controlled territory.
Grossi said part of the IAEA mission will stay at Zaporizhzhia “until Sunday or Monday” to continue the assessment, without specifying their number. The Argentine described the visit as productive and said he gathered lots of information.
Wearing bright blue flak jackets and helmets, the IAEA team crossed into Russian-held territory, reaching the facility at around 1200 GMT. After the inspection, in a video released by the Russian RIA Novosti news agency, Grossi said: “We have achieved something very important today and the important thing is the IAEA is staying here.” A dawn shelling attack on the area had forced one of the plant’s six reactors to close.
- Chinese City Of 21 Million Shuts Down Over New COVID-19 Outbreak
Around 21 million people in the Chinese city of Chengdu effectively went into lockdown on Thursday as authorities raced to snuff out a new Covid-19 outbreak. China is the last major economy wedded to a zero-Covid policy, stamping out virus flare-ups with snap shutdowns, mass testing, and lengthy quarantines.
Chengdu, in the southwest, became the latest city to announce a shutdown, saying in an official notice that residents must “stay home in principle” from 6:00 pm (1000 GMT) on Thursday to combat a new wave of infections.
Each household will be allowed to send one person out to buy groceries and essential goods per day, provided they have tested negative in the previous 24 hours, the notice said. It said that all residents would be tested for the virus between Thursday and Sunday, and urged them not to leave the city unless “absolutely necessary”.
ENTERTAINMENT
- Rapper Ice Prince Arrested For Assaulting Police Officer
The Lagos State Police Command on Friday morning arrested popular rapper, Henry Zamani, better known as Ice Prince, for an alleged assault on a police officer who stopped him for driving without license plates. The Lagos Police Command spokesman, Benjamin Hundeyin, in a tweet, alleged that the rapper threatened to throw the officer into a river at the point of arrest. The PPRO, who posted a photo of the rapper in handcuffs, said he will be arraigned today.
“At 3 am on Friday, @Iceprincezamani was stopped for driving without license plates. He agreed to be taken to the station,” he said. He, thereafter, abducted the police officer in his car, assaulted him, and threatened to throw him in the river. He has been arrested and would be arraigned .”
SPORTS
- Premier League Clubs Shatter Spending Record In £1.9bn Spree
Premier League clubs shattered their single-season spending record during an incredible £1.9 billion ($2.1 billion) spree during the summer window. Deloitte’s Sports Business Group estimated the gross spending by the 20 English top-flight clubs during the transfer window that ended on Thursday was the highest in the history of the competition.
Despite the cost-of-living crisis gripping Britain, Premier League teams needed just one window to break the £1.86 billion mark set in the summer and winter transfer periods combined during the 2017-18 season. According to Deloitte, the gross spend on a total of 169 players was also 34 percent higher than the previous record for a single window of £1.4 billion in the summer of 2017.
It was 67 percent higher than last year’s total Premier League summer window spend of £1.1 billion. “Gross spend was so high among Premier League clubs this summer that, before this season’s January transfer window had taken place, the 2022/23 season already has the highest transfer spend since the two-window season began, exceeding the previous record by 3 percent (2017/18’s £1.86 billion),” Deloitte said.
Nine Premier League clubs spent over £100 million each as expenditure recovered dramatically after two seasons of decline caused by the financial fall-out from the coronavirus. In total, the Premier League spent more than Spain’s La Liga, Italy’s Serie A and Germany’s Bundesliga combined. New ownership at Chelsea, with Todd Boehly’s consortium taking over from Roman Abramovich, acted as a catalyst for the increased spending. With a £255 million splurge, Chelsea spent more in one window than any team in Premier League history.
METRO PLUS
- FG Begins Kara Bridge Repairs Saturday, Announces Traffic Diversion
The Federal Government says it will commence repair works on the Ogun- bound lane of the Kara Bridge along the Lagos-Ibadan Expressway effective Saturday, September 3, 2022. The Lagos State Commissioner for Transportation, Frederic Oladeinde, in a statement, said he received a notification from the Federal Ministry of Works on the ongoing reconstruction works along the Berger-OPIC Axis of the Lagos-Ibadan Expressway Project for an emergency fixing of the expansion joints that got damaged.
“The notification explained that the urgent repair work needed to be carried out on three of the expansion joints to prevent accidents and vehicular damages, hence the need to inform the residents and motorists on the outbound Lagos-Ibadan Expressway,” the transport commissioner said on Friday.
Oladeinde said the state government will collaborate with the Federal Road Safety Corps (FRSC), the Lagos State Traffic Management Authority (LASTMA), and the Ogun State Traffic Compliance and Enforcement Corps to provide adequate diversion and effective traffic management systems during the period of the repair works. He advised the general public to drive with caution along this route during the period of the repair and exercise patience, adding that interventions will be put in place to minimize inconveniences.
Oladeinde appealed for the cooperation of the general public with the stationed traffic control Officers by adhering to traffic laws and regulations in order to prevent avoidable gridlock and ensure a free and steady flow of traffic while the repair works last.
- Over 1,000 Katsina Flood Victims Get Relief Materials From NEMA
At least one thousand flood victims cut across 13 LGAs in Katsina State on Thursday benefited from relief items distributed by the National Emergency Management Agency (NEMA). The items were handed over to the state government by the Minister of Humanitarian Affairs, Sa’adiya Umar Farouk in the company of the Director General of NEMA, Mustapha Kabir Ahmed at the Katsina Native Authority premises.
Although the minister didn’t give the cost of the materials, Mustapha Ahmed told reporters that the relief items were deployed in seven trailer loads comprising food and non-food items. He, however, called on beneficiaries to desist from building structures on water channels and ensure that they clear their drainages and water channels regularly to avert future recurrence.
The NEMA DG recalled that the agency had since before the commencement of this year’s seasonal rainfall, issued warning messages across the possible flood risk areas in the federation for residents to be on the alert.
The 17 assorted relief items delivered for the distribution include; 3,000 bags of 10 kilograms of rice, 3,000 bags of 10 kilograms of maize, 3,000 bags of 10 kilograms of beans, 100 kegs of 20 litres of vegetable oil, 200 cartons of seasoning cube, 300 bags of 20 kilograms of iodized salt, 1,000 bags of 50 kilograms of cement and 100 bags of 25 kilograms of nails.
