Wednesday, December 17, 2014

Adidas to extend kit sponsorship with Nigerian Football Federation

Adidas, has provisionally extended its kit sponsorship deal with the Nigeria Football Federation, NFF, pending a contract renewal.

The Chairman of NFF, Amaju Pinnick, told reporters on Tuesday in Abuja that the football house plans to renew the contract, which would expire at the end of December.

According to Mr. Pinnick, the leadership crisis that engulfed the NFF is responsible for the delay in the renewal of the kit sponsorship contract.

"We requested for an extension which has been granted to us and we will see how we can tidy up and get Adidas back because we have a prime commodity in the Super Falcons playing in the World Cup next year.

"We have thirteen national teams not just the Super Falcons; the truth is, if we don't sit down to do things properly, there is no way you are going to achieve any good result.

"If you jump into a problem, it lingers as a problem.

"So we are taking our time sitting down and looking at it to come out with something that you will see and say I am proud to be a Nigerian".

Adidas, which has been kitting Nigerian national teams for about a decade now, entered into the about-to-expire deal with NFA in 2011.

The total value of the deal is worth about 10 million euro, a massive increase from the 200,000 euro deal of the contract which expired in 2010.

Premium Times

Related story: Adidas drops Nigeria Football Federation

$7.92 billion lost by Nigeria in 1 year due to corruption

A total of $7.92billion in illicit capital flowed of out Nigeria in 2012, according to the latest report released by the US-based non-profit research and advisory organisation, Global Financial Integrity (GFI).

For the year 2012, only Nigeria and South Africa are the two African countries ranked in the top 20 countries for illicit financial outflows. Nigeria was ranked 17th behind South Africa, which ranks 9th with cumulative illicit financial outflows of $29.13 in 2012.

According to the report, “Illicit Financial Flows from Developing Countries: 2003-2012,” emerging economies lost a whopping $991.2billion in facilitating crime, corruption and tax evasion.

However, in the 10-year period between 2003 and 2012, Nigeria was ranked 10th with a cumulative of $157.46billion, surpassing South Africa which was ranked 12th with a cumulative $122.14billion. Also, Nigeria and South Africa are the only two African countries that were ranked for illicit financial outflows in the 10-year period between 2003 and 2012.

“The fraudulent mis-invoicing of trade transactions was revealed to be the largest component of illicit financial flows from developing countries, accounting for 77.8 percent of all illicit flows, highlighting that any effort to significantly curtail illicit financial flows must address trade mis-invoicing,” said the report.

Frontline political activist, Chris Nwokobia, said that the report vindicates the position of former CBN governor, Sansui Lamido, that $20billion was missing from the coffers of the federal government.

According to Nwokobia, when Sanusi said that $20billion was not missing, many dismissed him as playing politics and he was harassed out of office.

“This report is only saying that what Sanusi said was correct. Nigeria has always been corrupt but this is the first time that corruption is driving the wheel of state,” Nwokobia said.

The report, authored by GFI’s chief economist Dev Kar, and GFI’s junior economist Joseph Spanjers, reveals that “illicit financial flows hit a historic high of $991.2 billion in 2012 – marking a dramatic increase from 2003, when illicit outflows totalled a mere $297.4 billion.”

It also notes that illicit outflows are “growing at an inflation-adjusted 9.4 percent per year, amounting to double global GDP growth over the same period.”

“As this report demonstrates, illicit financial flows are the most damaging economic problem plaguing the world’s developing and emerging economies,” said GFI president Raymond Baker, a longtime authority on financial crime. “These outflows – already greater than the combined sum of all FDI and ODA flowing into these countries – are sapping roughly a $1trillion per year from the world’s poor and middle-income economies.”



Fuel scarcity: TOTAL is holding Nigerians to ransom – SSS

The Department of State Services (DSS) has blamed the ongoing nationwide strike embarked upon by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on oil giant, TOTAL Nig. Plc., saying that the company reneged on an agreement with the union.

DSS spokesperson Marilyn Ogar, while addressing the media yesterday on the strike, urged Nigerians associated with TOTAL’s management to compel it to end the suffering they had imposed on Nigerians by keeping the said agreement.

Ogar further disclosed that the matter was brought to the DSS office by PENGASSAN officials in November, following which the Service summoned TOTAL’s managing director Elizabeth Proust, saying the oil giant’s recalcitrance triggered the industrial action.

“The issue is the ongoing strike by NUPENG and PENGASSAN which is biting hard on all Nigerians. We want to state that in November, 2014, PENGASSAN had written the Service to make a formal complaint about the transfer of Elo Victor Ogbonda to Lagos from Port Harcourt by TOTAL after she was elected as a zonal executive of the union,” said Ogar.

“Consequently, this Service summoned the managing director of TOTAL, Elizabeth Proust, on November 5, 2014, to resolve the dispute. It was agreed that Ogbonda would be re-instated, posted back to Port Harcourt and granted leave of absence for the period she would serve as an executive of PENGASSAN.”

Ogar said that PENGASSAN later informed the DSS that TOTAL had reneged on its promise to recall Ogbonda.

“Consequently, this Service contacted TOTAL and was informed that the company will not go back on its sack order. All entreaties to the company failed, thus culminating in the current strike and the attendant fuel scarcity,” Ogar said.



Fuel scarcity continues as oil workers shun FG meeting

- Oil workers insists on meeting with President

The ongoing fuel scarcity in the country may continue as the meeting called at the instance of the supervising minister of labour and productivity, Kabiru Turaki, to broker peace and resolve the industrial action by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has been rescheduled for Thursday, December 18, 2014.

The development followed the inability of the aggrieved oil workers’ unions and their officials to turn up for the meeting earlier scheduled for Tuesday, December 16, at the minister’s office.

However, Kabiru Turaki was absent at the meeting, officials from the Ministry of Petroleum Resources, top directors at the Federal Ministry of Labour and Productivity, including the permanent secretary, Clement Iloh, were all present.

After several hours of waiting for NUPENG and PENGASSAN executives to turn up for the meeting, the permanent secretary then publicly announced the postponement of the meeting to Thursday.

He said, “This meeting was called by this ministry to trash out the issues that must have necessitated this current strike and other problems in the sector. However, this meeting has been postponed to Thursday, December 18 by 11am. We sincerely apologise for this postponement”.

As the strike enters the third day, both unions have hinged the latest strike on federal government’s inconsistent policy in carrying out turnaround maintenance of the nation’s ailing refineries, including effecting reduction in pump prices of petrol in line with the slump in global prices of crude oil.

They also accused the government of not being able to evolve new strategies to combat issues related with pipeline vandalism and crude oil theft, and the delay by the National Assembly to pass the Petroleum Industry Bill (PIB).

Others are the non-implementation of the Nigeria Oil and Gas Industry Content Development Act, expected to reflect Nigerians in management positions and expatriate quota law.

Despite federal government’s self-rating of having accomplished so much in road construction, NUPENG and PENGASSAN have expressed sadness at the appalling state of access roads to refineries and oil depots’ facilities, as well as insecurity all over the country that has reportedly led to the death of their members.

NUPENG president, Igwe Achese, however, told reporters that the union shunned the meeting because “it will lead to nothing at the end of the whole exercise.”

Inside sources told our reporter that the oil workers would only attend a meeting which President Goodluck Jonathan will preside.

According to Achese, government has a penchant for organising meetings when industrial issues have gone from bad to worse but has never shown consistency in implementing resolutions that emanate from such meetings.

He said there has been series of meetings between the oil unions and the minister of petroleum resources, Diezani Allison-Madueke, to resolve these issues but such meetings failed to yield any tangible results.

He chided government for abandoning the Turnaround Maintenance (TAM) policy of the refineries, adding that their major grouse was poor supply of crude oil to service the refineries while several oil vessels with fuel products are at the seaport waiting to be discharged for sale in Nigeria.

“We cannot be party to a meeting that will ultimately lead to nothing at the end of the day. What we want to see is a situation where government makes commitment by implementing some of these demands we have raised, not series of meetings.

“It will surprise you to know that in the past eight months, we have been meeting with the minister of petroleum resources and other stakeholders in the petroleum industry, yet these meetings yielded nothing.

“You heard the ministry of petroleum resources bragging that there are over 17 oil vessels at the seaport waiting to discharge fuel, how do you explain the turnaround maintenance initiated by the government itself.

“We want to see regular supply of crude oil to the refineries so as to stop the importation of fuel from other countries which do not even have oil deposits in their soil. What is government doing about the turnaround maintenance it initiated and the Petroleum Industry Bill before the National Assembly?” he queried.

Leadership

Tuesday, December 16, 2014

Displaced Nigerians from Boko Haram violence might not be able to vote in Presidential elections in 2015

At least 1.5 million people displaced by the Islamist insurgency in north-east Nigeria may not be able to vote in elections if the law is not changed, an electoral official has told the BBC.

Discrepancies in the law needed to be resolved in "very good time" or people could be disenfranchised, he added.

Ex-military ruler Muhammadu Buhari will challenge President Goodluck Jonathan in the February election.

Boko Haram's insurgency has mainly affected opposition strongholds.

Last year, Mr Jonathan imposed a state of emergency in the north-eastern states of Adamawa, Borno and Yobe in a bid to curb the insurgency.

However, Boko Haram has stepped up attacks since then and has declared an Islamic state in areas it controls.'Staggered voting'

BBC Nigeria reporter Will Ross says it is not clear whether the elections will take place at all in states under emergency rule.

But the Independent National Electoral Commission (Inec) said it was determined to ensure that the elections took place in all parts of the country.

The vote could be held on a staggered basis and areas could be secured with "proper deployment" of the security forces, Inec spokesman Nick Dazzang told BBC Focus on Africa.

Inec was distributing voter cards to displaced people, many of whom were living in camps, but discrepancies in Nigeria's Electoral Act needed to be "reconciled", he added.

It stated that people could "transfer" their registration to where they were living but it also stated that they needed to vote where they were registered, Mr Dazzang said.

"We are concerned that the way the law is structured now, unless it is amended in very good time, some of them will be disenfranchised," he told BBC Focus on Africa.

Our reporter says the election is expected to be one of the most keenly fought since the end of military rule in 1999 - and that has prompted some warnings of potential violence.


BBC


Related story: Video - The state of Nigerian governance and Boko Haram

Aliko Dangote to invest $2 billion in oil refinery

Aliko Dangote, Africa’s richest businessman, is increasing the size of his investment in an oil refinery, petrochemical and fertilizer plant by more than a fifth to $11 billion despite a looming slowdown in Africa’s biggest economy, reported the London-based Financial Times.

The project could eventually revolutionise Nigeria’s energy sector by slashing fuel imports, eliminating costly rackets associated with subsidies and crude oil swaps, and add billions of dollars in value to petroleum exports.

Mismanaged for years, Nigeria’s state-owned refineries work at a fraction of installed capacity. Therefore the country, Africa’s leading oil producer, imports most of its petrol and diesel requirements.

Dangote has deep pockets and a long record as an industrialist, having converted his trading empire into a vast conglomerate, which produces cement, sugar, flour and other basic commodities and is estimated to be worth more than $22 billion.

Speaking to the Financial Times at his headquarters in Lagos, he said the refinery and petrochemicals project should be completed by the end of 2017 and thereafter have a lifespan of decades.

He is planning an additional $2 billion of investment, he said, on top of the $9bn he announced just over a year ago, to double production of polypropylene and to add production of polyethylene, two raw materials used to make plastics.

Nigeria’s economy has diversified over the past 15 years thanks to the rapid growth of services. But it still depends on oil for more than 90 per cent of export earnings, and 70 per cent of state revenues.

The country has been hit hard by the drop in oil prices, with the central bank haemorrhaging foreign reserves before devaluing the official exchange rate for the naira by eight per cent last month.

Dr. Ngozi Okonjo-Iweala, the finance and economy minister, has forecast a percentage point slowdown in growth to below six per cent.

But the economic turmoil in Nigeria has in no way undermined the case for the investment, said Dangote. “Nigeria needs it and Africa needs it.”

He said his company, the Dangote Group, had already begun laying foundations outside Lagos, the commercial capital, and had raised nearly two-thirds of the initial foreign currency requirement needed before the naira began to slide on weaker world oil prices.

“The devaluation will increase our dollar costs. But most people in the oil business have slowed down or suspended projects. So I think we will get very good deals in terms of building. That will compensate,” he said.

He acknowledged that the broader economic impact of the falling oil price was a concern. “But it may also be a blessing in disguise because Nigeria will have to work harder to diversify the economy, especially when it comes to foreign exchange earnings,” he said.

“We as a group had seen this coming,” he said, adding that by the time the plant, which is partly being financed with a loan from the central bank, is up and running, “we won’t require a single dollar from the Central Bank of Nigeria. . . . With our export-orientated goods including cement, fertiliser and petrochemicals, we will be earning as much as $9 billion annually.”

Dangote drew inspiration for the project from India’s Ambani family, whose Reliance Industries faced down sceptics to build the largest refinery in the world at Jamnagar in the late 1990s, giving it a dominant position in the Indian market.

“We won’t make our money back for five to six years. If I deploy that capital in buying blocks to sell oil even with the falling oil price, we could recover the money in three to four years. So the real beneficiary is the government,” Dangote said.

This Day

Related story: Video - Aljazeera speaks with Africa's richest man Aliko Dangote

Monday, December 15, 2014

Former Minister of Education Dr. Oby Ezekwesili suggests Nigerian government no longer commited in rescuing kidnapped schoolgirls

The #BringBackOurGirls group yesterday, lamented the neglect of the Chibok girls by the federal government, even as the whole attention has been moved to the issue of 2015 elections.

Speaking at the daily sit-out of the group yesterday, one of its leaders and the former minister of education, Dr. Oby Ezekwesili said it has become clearer to the people that the government has no plan to bring back the girls after eight months of their abduction.

Ezekwesili further wondered why up until now, nobody has any concrete information as to where the girls are or what is being done to rescue them and other people that have been abducted or stop insurgency.

The BBOG also queried what the Ministry of Youth Development, headed by Boni Haruna is doing to educate the youths of the North against joining insurgency even as they are being neglected, terrorised and even killed by the insurgents.

"For the youths of the Northeast, particularly the Chibok girls, their various rights have been despicably and traumatically violated without adequate relief in sight. The Ministry of Youths has not firmly intervened to ensure that schools there are adquately secured.

"The BBOG is alarmed at the extent to which the state has failed these youths. It is also disheartening to note that the ministry has essentially not been seen to be proactive in the going situation. It has not also offered any worthwhile support for the growing number of displaced youths grappling for survival in displaced persons camps.

"We are extremely concerned too that the ministry whose mandate includes inculcating in the youth human rights values, social justice, equity, fairness and gender equality; has shown no discernable concern about the fate of the abducted 219 Chibok girls, even as the universally recognised season of goodwill approaches," the group explained.

The group also warned that Nigeria is becoming divided into two nations. The people in the Northeast, who are really suffering the insurgency and the other group of Nigerians, who are living their lives and not bothered about what is happening in the Northeast; and that this trend is not good for the country.

Leadership

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