Nigeria defeats Luxembourg 3-1 in football friendly

Nigeria's Super Eagles rounded off their two-game international friendlies with a comfortable 3-1 win over the Red Lions of Luxembourg on Tuesday.

Goals from Brown Ideye, Kelechi Iheanacho and Odion Ighalo ensured Nigeria won their second straight game in four days.

A sparse crowd at the Stade Josy Barthel in Luxembourg City watched the Super Eagles take on the Luxembourg side for the first time at full senior level with Nigeria doing the early running.

Luxembourg did have a sight at goal early in the game but did not make hay as Nigeria dominated for majority of the first half.

Aminu Umar was a live-wire down the right for Nigeria as they pressed forward to get a goal. Kelechi Iheanacho had a chance to get Nigeria ahead but was denied by a well-timed tackle as Luxembourg goalkeeper Moris Anthony was kept busy.

Nigeria eventually got the first goal in the 35th minute of the game. A mazy run by Aminu Umar created a chance for Ogenyi Onazi whose shot was parried by Anthony but Brown Ideye was on hand to tap home his first international goal in three years.

The Super Eagles continued their dominance in the second half and were rewarded when Moses Simon capitalised on a poor clearance by the Luxembourg goalkeeper to square the ball to Kelechi Iheanacho to score his second goal in two matches to put Nigeria 2-0 up in the 68th minute.

Luxembourg thought they had clawed their way back into the game when Kenneth Omeruo’s mistake in defence gifted youngster Vincent Thill the opportunity to reduce the deficit in the 89th minute.

Odion Ighalo though sealed the game for Nigeria in added time to make it 3-1 and earn the Super Eagles a comfortable win.

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Nigeria partners with Russia for nuclear technology

Nigeria yesterday signed Memorandum of Understanding, MoU, with the government of Russian Federation, on cooperation in construction of centre for nuclear science and technology in the country. 

The MOU, which was signed between representatives of the two countries, Mr Sergey Kirienko, Director Russian Rosatom State Corporation and Dr Erepano Osaisai, Chairman/Chief Executive, Nigeria Atomic Energy Commission, was part of the high points of Nigeria’s participation in the ongoing 2016 ATOM Expo, in Moscow, Russia. International Forum, ATOM EXPO is the largest exhibition and business venue for meetings and negotiations of the world leaders in nuclear energy. 

Immediately after signing the MOU, Dr Osaisai said that Nigeria’s intention to acquire nuclear technology followed the realization that nuclear energy contributes quite a chunk of global electricity. 

He noted that Nigeria, with its huge population, could not afford to miss out in the current trend. He also admitted that the project would come with a huge cost but added that the cost of not having clean energy and adequate electricity would be higher for those who failed to join the fray. 

Osaisai said: “Nuclear acquisition has come to stay. It is well known that it contributes quite a chunk of global electricity. ‘’Although Nigeria does have other sources of energy, but this is about a balanced and diversified energy basket. 

Nuclear happens to be the one we considered. “The preference is because it is environmentally friendly and leads to a better conservation of other resources.” 

Recall that Nigeria was first in Africa to establish a research reactor when in 2004, it enabled a Chinese-origin research reactor at Ahmadu Bello University. The country is also reportedly seeking collaboration with the International Atomic Energy Agency, IAEA, to develop plans for up to 4,000 MW of nuclear capacity by 2027.

Vanguard

President Buhari gives go-ahead on flexible Naira

Faced with an economy nearing recession and inflation at the highest in almost six years, Nigerian President Muhammadu Buhari has backed down on his refusal to allow the naira to weaken.

Buhari has given the central bank the go-ahead to introduce a more flexible exchange-rate system even as he remains opposed to devaluation of the naira, said Garba Shehu, his spokesman.

“The president is opposed to devaluing the naira, he has said so repeatedly,” Shebu said in an interview on state-controlled NTA Television on Monday. “He has given them leeway to introduce what he has called ‘flexibility in managing’” the currency’s value, he said, referring to the central bank.

Buhari said at the weekend he supported a stable currency, though he would keep “a close look at how recent measures affect the naira and the economy.” The comments, made four days after the Central Bank of Nigeria said it planned to introduce a more flexible exchange-rate regime, left traders guessing whether he supported those measures.

“We see this as a welcome development as it will help reduce the uncertainties regarding the expected policy framework on foreign-exchange flexibility announced by the CBN governor last week,” analysts at Lagos-based Investment One said in an e-mailed note Tuesday. “We see the move towards a market-determined exchange rate from both fiscal and monetary authorities as a catalyst for increased economic activities.”

Nigeria has held the naira at 197-199 per dollar since March 2015, even as other oil exporters from Russia to Colombia and Malaysia let their currencies drop amid the slump in crude prices since mid-2014. Foreign reserves dwindled as the central bank of Africa’s largest oil producer defended the peg, while foreign investors, fearing a devaluation, sold Nigerian stocks and bonds.

Three-month non-deliverable naira forwards have weakened 35 naira to 285 per dollar since the central bank announced its change of direction, suggesting traders anticipate the currency may trade near that level in the event of a devaluation.

Central bank Governor Godwin Emefiele said on May 24 policy makers were considering a two-tier currency system, with the naira trading nearer a market-related level in the interbank market while the central bank would continue to allocate dollars to strategic industries at a fixed rate. He said the new system would be implemented “in the coming days.”

Bloomberg