Friday, February 10, 2017
Video - Boko Haram reportedly battling financial crisis and internal split
Boko Haram is reportedly struggling to survive. The United Nations maintains the group is broke and facing an internal split. CGTN's Kelechi Emekalam has more on what a financial crisis could mean to the militants' survival.
Nigerian seeks ban reversal from EU for beans export
Plans are in top gear by the Nigeria Agricultural Quarantine Service (NAQS) to get the European Union EU lift its ban on exportation of beans from Nigeria to its member countries.
The Coordinating Director of the agency, Dr. Vincent Isegbe, who disclosed this at the opening of a two- day training workshop on Plant Health Inspection and Certification of Vegetables for exporters and farmers, said all hands are on deck to ensure that the EU lifts the ban before 2019.
Noting that the EU ban on Nigerian beans has severely affected the economy, Isegbe said there was a need to avoid future rejection of Nigeria’s agricultural commodities even as he pointed out that the agency is doing its best to revert the situation.
According to him, the EU has promised to reverse the ban if necessary measures were put in place before 2019.
“We have had issues in the past concerning beans where the European
Union suspended Nigeria for three years from beans export. That is not good for us because it means that all the farmers who are producing beans can no longer export the quantity that they used to export.
“All the traders in between, the warehouse people, the transporters and we, who are involved in the inspection and certification, that aspect has been broken down because they cannot generate any revenue along the value chain anymore.
“The good news is that the EU said if we can put the process in place earlier than 2019, they will reverse their decision. So that is where we are,” he said.
Isegbe, said NAQS is fully committed to ensuring that the country agriculture produce meets international standards and export quality.
He said the training is centered on vegetables because it is one of Nigeria’s most exported commodity.
According to him, because of the sensitive processes involved in the handling of vegetables, there is a need to put in place stringent inspection and certification procedures that will sustain its export especially at a time the government is placing emphasis on non-oil exports.
“Vegetables are a delicate product and because it is almost ready to eat, it needs more stringent inspection and certification procedures since most times we eat it fresh as salad. So, such ready to eat commodity will need special attention.
“Now that the revenue from oil is falling, we need to go back to our first love which is agriculture. We were doing well in that area in the 1960,s and early 70’s but in the 80’s, upward, there has been a reduction in agricultural produce for export. That is why we are emphasising that the process that will enable our commodities to be accepted internationally, we have to put it in place,” he said.
Also speaking, Zonal Coordinator, South West Zone S. A. Ikani S.A said in recent times, vegetables from Nigeria are been intercepted by the importing countries especially United States of America due to the menace of White Flies (Bemisia Tabacci).
He said the constant interception is fast becoming an embarrassment to the agency and the nation as a whole hence, the need to organise the training for farmers and exporters to be more experienced in the process involved in the production and handling of vegetables from the farm down to the port of exit.
The Coordinating Director of the agency, Dr. Vincent Isegbe, who disclosed this at the opening of a two- day training workshop on Plant Health Inspection and Certification of Vegetables for exporters and farmers, said all hands are on deck to ensure that the EU lifts the ban before 2019.
Noting that the EU ban on Nigerian beans has severely affected the economy, Isegbe said there was a need to avoid future rejection of Nigeria’s agricultural commodities even as he pointed out that the agency is doing its best to revert the situation.
According to him, the EU has promised to reverse the ban if necessary measures were put in place before 2019.
“We have had issues in the past concerning beans where the European
Union suspended Nigeria for three years from beans export. That is not good for us because it means that all the farmers who are producing beans can no longer export the quantity that they used to export.
“All the traders in between, the warehouse people, the transporters and we, who are involved in the inspection and certification, that aspect has been broken down because they cannot generate any revenue along the value chain anymore.
“The good news is that the EU said if we can put the process in place earlier than 2019, they will reverse their decision. So that is where we are,” he said.
Isegbe, said NAQS is fully committed to ensuring that the country agriculture produce meets international standards and export quality.
He said the training is centered on vegetables because it is one of Nigeria’s most exported commodity.
According to him, because of the sensitive processes involved in the handling of vegetables, there is a need to put in place stringent inspection and certification procedures that will sustain its export especially at a time the government is placing emphasis on non-oil exports.
“Vegetables are a delicate product and because it is almost ready to eat, it needs more stringent inspection and certification procedures since most times we eat it fresh as salad. So, such ready to eat commodity will need special attention.
“Now that the revenue from oil is falling, we need to go back to our first love which is agriculture. We were doing well in that area in the 1960,s and early 70’s but in the 80’s, upward, there has been a reduction in agricultural produce for export. That is why we are emphasising that the process that will enable our commodities to be accepted internationally, we have to put it in place,” he said.
Also speaking, Zonal Coordinator, South West Zone S. A. Ikani S.A said in recent times, vegetables from Nigeria are been intercepted by the importing countries especially United States of America due to the menace of White Flies (Bemisia Tabacci).
He said the constant interception is fast becoming an embarrassment to the agency and the nation as a whole hence, the need to organise the training for farmers and exporters to be more experienced in the process involved in the production and handling of vegetables from the farm down to the port of exit.
Video - Nigerian soldiers caught on camera beating up disabled man
Two Nigerian soldiers have been arrested and charged with assault after they were filmed beating a disabled man with sticks in a busy street.
The army said the reason for the assault, in Onitsha in Anambra state on Tuesday, appeared to be because the man was wearing a camouflage shirt.
It said the soldiers had been charged "in line with our zero tolerance for acts of indiscipline".
Many Nigerians complain that soldiers are rarely punished for excesses.
Human rights groups have persistently accused Nigeria's military of abuses against civilians, especially in north-east Nigeria, where it has been fighting a long-running insurgency by militant Islamist group Boko Haram.
Wearing camouflage clothing is a sensitive issue in Nigeria because militants and criminals have often worn camouflage clothing either to carry out attacks or impersonate soldiers for other criminal purposes.
Section 110 of the Nigerian criminal code says it is an offence to unlawfully wear uniform of the armed forces or dress "having the appearance... of such uniforms".
Footage of the assault on the disabled man in Onitsha, in southern Nigeria, had been circulating on social media before the army commented.
It said the "ugly incident" was "an isolated case which is not [a] true reflection of the Nigerian army".
News of the soldiers being charged came a week after another soldier was jailed for seven years for shooting dead a civilian at a market in the city of Maiduguri, in the north-east, last year.
The soldier, who was not identified, was found guilty of manslaughter.
In court, he argued that he acted in self-defence after the man he killed, named as Umar Alkali, tried to wrestle his rifle from him. The military court rejected this argument, deciding that he had used disproportionate force.
800% over-subscription recorded by Nigerian's $1bn Eurobond
The Federal Government, yesterday, said that it had issued the $1 billion Eurobond with 800 per cent over-subscription, as foreign investors demanded for $7.8 billion, reflecting investors‘confidence in the nation’s economy.
In a statement yesterday, the Ministry of Finance said that the 15-year bond was priced at 7.875 per cent and will mature on February 16, 2032. According to the statement by Director of Information, Ministry of Finance, Salisu Dambatta: “The notes will bear interest at a rate of 7.875 percent and will mature on February 16, 2032 with a bullet repayment of the principal.
The republic intends to use the proceeds of the notes to fund capital expenditures in the 2016 budget. The notes represent the republic’s third Eurobond issuance, following issuances in 2011 and 2013. “The notes were approximately eight times over-subscribed with orders in excess of $7.8 billion compared to a pre-issuance target of $1 billion demonstrating strong market appetite for Nigeria.
This is despite continued volatility in emerging and frontier markets and shows confidence by the international investment community in Nigeria’s economic reform agenda. “The offering attracted significant interest from leading global institutional investors.
The notes will be admitted to the official list of the UK Listing Authority and available to trade on the London Stock Exchange’s regulated market. The republic will apply for the notes to be eligible for trading and listed on the Nigerian FMDQ OTC Securities Exchange and the Nigerian Stock Exchange. “The pricing was determined following a roadshow led by Mrs. Kemi Adeosun, the Minister of Finance, Senator Udoma Udo Udoma, the Minister of Budget and National Planning, Mr Godwin Emefiele, Governor of Central Bank of Nigeria, Dr. Abraham Nwankwo, Director-General of the Debt Management Office, DMO, and Mr Ben Akabueze, Director -General of the Budget Office, to key global financial centres.”
Thursday, February 9, 2017
Video - Nigerian designer creates cool sneakers for big feet
With a love for shoes and the goal to create a manufacturing sector for quality footwear in Nigeria, entrepreneur Babajide Ipaye created Keexs - an Africa-inspired brand with a social brief. Take a look.
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