The Nigerian Army on Monday said it has uncovered a factory in Bama, Borno state, where the extremist Boko Haram sect manufactures rockets and Improvised Explosives Devices.
The spokesperson for the Army, Sani Usman, who make the disclosure in a statement, also said “troops of the Seventh Division Garrison of the Nigerian Army engaged in Operation Lafiya Dole on Sunday made remarkable progress by arresting a Boko Haram terrorist kingpin, John Trankil, at Kasuwar Shanu in Maiduguri metropolis”.
Mr. Usman, a colonel, also said by arresting Mr. Trankil, the troops averted what would have been multiple bombings in Maiduguri, the Borno state capital.
The statement said, “Preliminary investigation revealed that the suspect said that nine of them were sneaked into the Maiduguri armed with AK 47 assault rifle each and a Hilux vehicle laden with 20 Improvised Explosive Devices meant to be detonated at some selected targets in the city.
“The Theatre Commander operation LAFIYA DOLE, Major General Yusha’u Mahmood Abubakar, commended the efforts of the troops and renewed calls for troops and the public to be more vigilant and security conscious particularly at all check points, markets, worship centres, motor parks and schools.
“In a related development, troops of 21 Brigade Nigerian Army, while on offensive operations on Boko Haram terrorists location, with the support from the Nigerian Airforce discovered and destroyed the terrorists’ Improvised Explosive Device (IED) and Rocket making factory along Bama-Gonin Kurmi within the outskirts of Bama town, Borno State.
“The items recovered includes gas cylinders, welding machine, pipes and poles. Others include locally made rocket shells, large quantity of assorted chemicals, unprimed IEDs and various technical and laboratory equipment suspected to be stolen from schools’ laboratories around Bama before they were dislodged from the area.”
Premium Times
Monday, November 16, 2015
Video - Nigeria sends army to quell protests in oil-rich south-east region
Nigeria is to send more troops into its oil-rich south-east region. That's to step up security, amid widening street protests by a separatist group.
Nigerian Scholar Dr. Opeyemi Enoch solves 156 year old math problem - wins $1 million prize
A Nigerian scholar and an academic at the Federal University, Oye Ekiti, Ekiti State, Dr. Opeyemi Enoch, has provided proof for the old Riemann Hypothesis, thereby solving a 156-year-old problem that has remained a knotty issue in mathematics. By this feat, Enoch has become the fourth scholar to resolve one of the seven Millennium Problems in Mathematics.
A statement from the university in Ado Ekiti on Sunday said Enoch’s presentation of the solution last Wednesday at the International Conference on Mathematics and Computer Science in Vienna, Austria, became more symbolic coming on the exact day and month 156 years after the problem was brought to light by a German mathematician in 1859.
The Riemann Zeta Hypothesis is one of the seven Millennium Problems set forth by the Clay Mathematics Institute with a million dollar reward for each solved problem for the past 16 years.
According to the statement, “Dr. Enoch first investigated and established the claims by Riemann. He went on to consider and correct the misconceptions that were communicated by mathematicians in past generations, thus paving the way for his solution and proof to be established.
“He also showed how other problems of this kind can be formulated and obtained the matrix that Hilbert and Poly predicted will give these undiscovered solutions. He revealed how these solutions are applicable in cryptography, quantum information science and in quantum computers.”
Three of the problems had been solved and the prizes given to the winners. This makes it the fourth to be solved of the seven problems. The Kogi State-born scholar had previously worked on mathematical models and structures for generating electricity from sound, thunder and oceanic bodies. He also once designed the prototype of a silo for peasant farmers and discovered a scientific technique for detecting and tracking someone on an evil mission.¨In addition, Enoch has succeeded in inventing methods by which oil pipelines can be protected from vandalism and is currently working on mathematical approaches to climate change.
This Day
A statement from the university in Ado Ekiti on Sunday said Enoch’s presentation of the solution last Wednesday at the International Conference on Mathematics and Computer Science in Vienna, Austria, became more symbolic coming on the exact day and month 156 years after the problem was brought to light by a German mathematician in 1859.
The Riemann Zeta Hypothesis is one of the seven Millennium Problems set forth by the Clay Mathematics Institute with a million dollar reward for each solved problem for the past 16 years.
According to the statement, “Dr. Enoch first investigated and established the claims by Riemann. He went on to consider and correct the misconceptions that were communicated by mathematicians in past generations, thus paving the way for his solution and proof to be established.
“He also showed how other problems of this kind can be formulated and obtained the matrix that Hilbert and Poly predicted will give these undiscovered solutions. He revealed how these solutions are applicable in cryptography, quantum information science and in quantum computers.”
Three of the problems had been solved and the prizes given to the winners. This makes it the fourth to be solved of the seven problems. The Kogi State-born scholar had previously worked on mathematical models and structures for generating electricity from sound, thunder and oceanic bodies. He also once designed the prototype of a silo for peasant farmers and discovered a scientific technique for detecting and tracking someone on an evil mission.¨In addition, Enoch has succeeded in inventing methods by which oil pipelines can be protected from vandalism and is currently working on mathematical approaches to climate change.
This Day
Deadlline for MTN to pay $5.2 billion fine extended by Nigeria
African telecommunications giant MTN says Nigeria is extending Monday's deadline for it to pay a $5.2 billion fine.
A statement from the South African-based company says the fine will not be paid until negotiations are concluded with the Nigerian Communications Commission.
MTN CEO Sifiso Dabengwa resigned last week over the fine, imposed for failing to meet a deadline to deactivate 5.2 million unregistered SIM cards, a security issue in Nigeria. Authorities say cell phones are used to coordinate attacks by Boko Haram Islamic extremists as well as in rampant kidnappings and armed robberies.
MTN shares have slumped. Nigeria's 60 million-plus MTN subscribers provide about one third of profits for MTN Group, which has 233 million subscribers in Africa, Asia and the Middle East.
ABC
A statement from the South African-based company says the fine will not be paid until negotiations are concluded with the Nigerian Communications Commission.
MTN CEO Sifiso Dabengwa resigned last week over the fine, imposed for failing to meet a deadline to deactivate 5.2 million unregistered SIM cards, a security issue in Nigeria. Authorities say cell phones are used to coordinate attacks by Boko Haram Islamic extremists as well as in rampant kidnappings and armed robberies.
MTN shares have slumped. Nigeria's 60 million-plus MTN subscribers provide about one third of profits for MTN Group, which has 233 million subscribers in Africa, Asia and the Middle East.
ABC
Friday, November 13, 2015
Video - China pledges to help Nigeria meet development goals
The Chinese government has assured African countries, especially Nigeria of its commitment to see them meet the Millennium Development Goals as outlined by the United Nations. The pledge was made during the presentation of papers by officials of both governments at the Nineteenth Brain storming Session on the UN Sustainable Development Goals in Nigeria.
Thursday, November 12, 2015
Video - FIFA U17 World Cup winners receive heroes welcome in Nigeria
Nigeria's Under-17 team returned home on Wednesday to a rapturous reception after their World Cup success in Chile.
Thousands were at Abuja's international airport to greet the team, who beat Mali 2-0 in Sunday's final.
Fans cheered and hugged the Golden Eaglets players and officials, who also posed for pictures with supporters.
"It gives us great joy to see Nigerians come out in big numbers to celebrate the team's success," coach Emmanuel Amuneke told BBC Sport.
"Football is a powerful force and the win in Chile shows how successful we can be as a nation if we all work together for a common goal.
"We thank everyone for a great welcome and their incredible support during and after the tournament."
Players and officials were driven round the Federal Capital Territory in a motorcade before the convoy arrived at the Transcorp Hilton Hotel.
The squad had dinner with the country's new sports minister Solomon Dalong on Wednesday night at the hotel.
They are expected to reconvene for a presidential reception with president Muhamadu Buhari on a date yet to be announced.
The Golden Eaglets not only successfully defended their crown in Chile, they also took centre stage when it came to the individual honours.
Captain Kelechi Nwakali made his mark on the competition by winning the Golden Ball as the tournament's best player. His three goals and three assists also earned him the bronze boot as the third highest scorer.
With 10 goals - a new tournament record - striker Victor Osimhen won the golden boot as well as the silver ball as the competition's second best player.
BBC
Related story: Video - Nigeria defend title and defeat Mali in 2015 FIFA U17 World Cup Final
Nigeria's 36 new ministers pledge to bring change in Nigeria
Some of the 36 new ministers assumed duties few hours after they were inaugurated on Wednesday by President Muhammadu Buhari.
The ministers were at their various ministries where they pledged to bring about ‘change’ promised by the ruling All Progressives Congress.
The new Minister of Agriculture and Rural Development, Audu Ogbeh, assured the ministry’s officials who received him that he would reduce the $32 billion Nigeria spends in importing food yearly.
Mr. Ogbeh, who was accompanied by the Minister of State, Heineken Lokpobiri, said following the dwindling oil revenue, there is now pressure on the agricultural sector to earn foreign exchange to replace the resource.
He stated that there was an urgent need to intensify research and marketing for food.
“Oil and gas has served Nigeria well. We did not manage the resources well. We can’t blame oil and gas. Now the pressure is on agriculture. How we are going to make it work to ensure yield and harvest is a burden all of us will carry together,” he said.
“We are going to face very serious challenges. We have to earn foreign exchange to replace oil. The demand out there is very high if we can produce the right quantity and quality.
“We have to intensify research, marketing of food. We have to deal with reducing the import burden of food of almost $32bn a year. I don’t know how somebody can explain importing bananas to the country or Irish potatoes from South Africa or vegetables from South Africa into our shores.”
Mr. Ogbeh, a former national chairman of the Peoples Democratic Party, assured that during his tenure the problem of high rate of malnutrition in the country would be tackled.
He said that cancer, liver and kidney failure had increased by 25 per cent in the last 25 years due to food poisoning.
“What is even worse, which we will together deal with, is the nutrition problem. Cancer, liver and kidney failure have increased 25 per cent in the last 25 years. A lot of poisoning is getting into our food system simply from packaging,” he said.
In the Ministry of Transport, the new Minister, Chibuike Amaechi, who said he would fully assume duties on November 17, assured that he would complete all the rail projects began by the previous federal administration.
Mr. Amaechi, a former governor of Rivers State, urged parastatals and agencies under the ministry and the aviation sector to cooperate with him to move the sector forward.
He said he would commence work by looking at the ministry’s budget and its level of implementation.
“Rail transport is the easiest thing to achieve if you get capable hands. We are going to work towards completing abandoned rail projects,” he said.
“They will help create employment and ease mass transportation of people. Our mandate is to deliver quality service to the people in accordance with the change agenda.”
On personal principles, Mr. Amaechi added, “If you come to me to gossip about anyone, be rest assured that l will tell the person concerned that this is what you said and you will be there to defend yourself, wrong or right.
“I am not as bad as they say. A lot of names have been given to me but I believe in principles. I don’t like protocols. When I say I hate corruption, I mean it. I don’t give bribe and I don’t take either. If you want to relate with me don’t give me money and don’t ask me for money.
“Just do your job creditably. Don’t see me on the road and run away. I am not as bad as they paint me. I don’t steal and l don’t befriend thieves and don’t put me in a position that l will not be able to call a thief, thief. Let us be friends because l am here to learn.”
The Minister of State for Aviation, Hadi Sirika, said whatever promise that had been made would be fulfilled and that the era of talking tough without acting had come to an end.
He assured that the new federal administration would deliver on its promises because it was aware of the high hope and expectation of Nigerians.
On his part, the new Minister of Labour and Productivity, Chris Ngige, said he would tackle unemployment effectively during his tenure.
“We will be at the forefront of the battle to stop the scourge of unemployment in the country,” Mr. Ngige, a former senator, said while addressing the workers of the ministry.
“We must, as a people, put on our thinking caps so that we can chart the way forward for employment generation.”
Mr. Ngige, a former senator, said although the new federal administration might not provide jobs for all unemployed people, it would provide the enabling environment for all the sectors to thrive.
According to him, efforts were already on to block all leakages so available resources could be committed to development.
He said, “We are the catalyst, the change agent of the change era; if we block leakages in our system, the country will be better for its resources will be made available for economic growth.”
The new Minister of Power, Works and Housing, Babatunde Fashola, who was accompanied by the minister of state, Mustapha Shehuri, said he would bring together processes and activities of all the three ministries under his supervision.
“We are here to work with you in solving problems on ground as quickly as possible,” he said.
“We want to know if some of those problems are man-made or systemic. We want information on what has been done, what remains to be done, and what are the future plans. We want to continue from there.”
The former governor of Lagos State assured that he would harness the available human resource assets in the ministry and the physical assets, ‘’as all these information will assist us as we hit the ground running. We need to do more so as to regain lost time.”
Mr. Fashola said he would ensure there is improved power supply across the federation.
Mr. Shehuri, on his part, asked for a detailed ministerial briefing document to serve as a guide, adding that it would ensure proper take-off of duties.
The Minister of Environment, Aisha Mohammed, said she would achieve the mandate given to the ministry by Mr. Buhari.
“As the minister of state has reiterated, there is a time frame and within that time frame we have to deliver the dividends of this administration to our people,” she said.
“The one commitment that we can make is that as we read through this brief that you’ve got here, it is about us building on the successes that we have in this ministry and ensuring that the teams that we have are working effectively with the skills that will take it to another level.
“It certainly can’t be business as usual because the President has said it and I hope that the Ministry of Environment will give the support to the Minister of State and myself to make real difference and to be a role model for what we mean by that in the country.
“The country has environmental issues everywhere. There is no part of this country that is devoid of the challenges that we have and what we need to do is to find the resources, those that are within the country and the other two tiers of government, the resources that are outside the borders of Nigeria to make sure that we make a considerable impact with what we have.’’
The Minister of State for Environment, Ibrahim Jubril, appealed to the workers to cooperate with him and the minister.
The Minister of State for Petroleum Resources, Emmanuel Kachikwu, said the outstanding subsidy payments to oil marketers approved by Mr. Buhari would be paid immediately the government gets the approval of the National Assembly.
He assured of constant fuel supply across the country.
Mr. Kachikwu, who said he would continue in office as Group Managing Director of NNPC, added, “One thing is certain, whatever time I spend here, it is going to be spent with a lot of respect for the dignity of people. I am a very respectful person and I give as much as I expect to have.”
He said he would soon engage the executives of the various parastatals with a view to finding out if they have the capacity and ability to deliver the change mantra.
On the pending Petroleum Industry Bill, the minister said: “Government believes in the bill still. Government wants to see the PIB come through. However, government has indicated that there is a need to look at the PIB as was submitted to the sixth assembly and try and tinker with it.
“There are all kinds of issues. One of them is whether we need to yank out the fiscal terms and develop them into a different law, rely on existing laws, amend them or whether we do that as a separate component of law.”
“We will be at the forefront of the battle to stop the scourge of unemployment in the country. We must as a people put on our thinking caps so that we can chart the way forward for employment generation.”
On her part, the Minister of Finance, Kemi Adesosun, at a meeting with senior officials of her ministry, said the federal government had a clear direction towards returning the nation to the path of growth.
She however said that would depend on the management and staff of the ministry.
Okechukwu Enelamah, the minister of industry, trade and investment, who was accompanied by the minister of state, Aisha Abubakar, to the ministry, pledged to start work immediately.
Mr. Enelamah revealed his excitement over his new assignment and asked for the cooperation and support of the officials of the ministry.
The new minister of Solid Minerals, Kayode Fayemi, also assumed duties at the ministry’s headquarters, in Abuja shortly after the inaugural meeting of the Federal Executive Council (FEC) on Wednesday.
Mr. Fayemi who was received by top officials of the ministry, held a meeting with them.
In attendance at the meeting were the Minister of State for Solid Minerals, Abubakar Bwari, the Permanent Secretary of the ministry, and some directors.
Mr. Fayemi told the officials of government’s plan to re-position the ministry as a major contributor to the economic growth of the country, adding that no stone would be left unturned in the bid to achieve the set goals.
Premium Times
The ministers were at their various ministries where they pledged to bring about ‘change’ promised by the ruling All Progressives Congress.
The new Minister of Agriculture and Rural Development, Audu Ogbeh, assured the ministry’s officials who received him that he would reduce the $32 billion Nigeria spends in importing food yearly.
Mr. Ogbeh, who was accompanied by the Minister of State, Heineken Lokpobiri, said following the dwindling oil revenue, there is now pressure on the agricultural sector to earn foreign exchange to replace the resource.
He stated that there was an urgent need to intensify research and marketing for food.
“Oil and gas has served Nigeria well. We did not manage the resources well. We can’t blame oil and gas. Now the pressure is on agriculture. How we are going to make it work to ensure yield and harvest is a burden all of us will carry together,” he said.
“We are going to face very serious challenges. We have to earn foreign exchange to replace oil. The demand out there is very high if we can produce the right quantity and quality.
“We have to intensify research, marketing of food. We have to deal with reducing the import burden of food of almost $32bn a year. I don’t know how somebody can explain importing bananas to the country or Irish potatoes from South Africa or vegetables from South Africa into our shores.”
Mr. Ogbeh, a former national chairman of the Peoples Democratic Party, assured that during his tenure the problem of high rate of malnutrition in the country would be tackled.
He said that cancer, liver and kidney failure had increased by 25 per cent in the last 25 years due to food poisoning.
“What is even worse, which we will together deal with, is the nutrition problem. Cancer, liver and kidney failure have increased 25 per cent in the last 25 years. A lot of poisoning is getting into our food system simply from packaging,” he said.
In the Ministry of Transport, the new Minister, Chibuike Amaechi, who said he would fully assume duties on November 17, assured that he would complete all the rail projects began by the previous federal administration.
Mr. Amaechi, a former governor of Rivers State, urged parastatals and agencies under the ministry and the aviation sector to cooperate with him to move the sector forward.
He said he would commence work by looking at the ministry’s budget and its level of implementation.
“Rail transport is the easiest thing to achieve if you get capable hands. We are going to work towards completing abandoned rail projects,” he said.
“They will help create employment and ease mass transportation of people. Our mandate is to deliver quality service to the people in accordance with the change agenda.”
On personal principles, Mr. Amaechi added, “If you come to me to gossip about anyone, be rest assured that l will tell the person concerned that this is what you said and you will be there to defend yourself, wrong or right.
“I am not as bad as they say. A lot of names have been given to me but I believe in principles. I don’t like protocols. When I say I hate corruption, I mean it. I don’t give bribe and I don’t take either. If you want to relate with me don’t give me money and don’t ask me for money.
“Just do your job creditably. Don’t see me on the road and run away. I am not as bad as they paint me. I don’t steal and l don’t befriend thieves and don’t put me in a position that l will not be able to call a thief, thief. Let us be friends because l am here to learn.”
The Minister of State for Aviation, Hadi Sirika, said whatever promise that had been made would be fulfilled and that the era of talking tough without acting had come to an end.
He assured that the new federal administration would deliver on its promises because it was aware of the high hope and expectation of Nigerians.
On his part, the new Minister of Labour and Productivity, Chris Ngige, said he would tackle unemployment effectively during his tenure.
“We will be at the forefront of the battle to stop the scourge of unemployment in the country,” Mr. Ngige, a former senator, said while addressing the workers of the ministry.
“We must, as a people, put on our thinking caps so that we can chart the way forward for employment generation.”
Mr. Ngige, a former senator, said although the new federal administration might not provide jobs for all unemployed people, it would provide the enabling environment for all the sectors to thrive.
According to him, efforts were already on to block all leakages so available resources could be committed to development.
He said, “We are the catalyst, the change agent of the change era; if we block leakages in our system, the country will be better for its resources will be made available for economic growth.”
The new Minister of Power, Works and Housing, Babatunde Fashola, who was accompanied by the minister of state, Mustapha Shehuri, said he would bring together processes and activities of all the three ministries under his supervision.
“We are here to work with you in solving problems on ground as quickly as possible,” he said.
“We want to know if some of those problems are man-made or systemic. We want information on what has been done, what remains to be done, and what are the future plans. We want to continue from there.”
The former governor of Lagos State assured that he would harness the available human resource assets in the ministry and the physical assets, ‘’as all these information will assist us as we hit the ground running. We need to do more so as to regain lost time.”
Mr. Fashola said he would ensure there is improved power supply across the federation.
Mr. Shehuri, on his part, asked for a detailed ministerial briefing document to serve as a guide, adding that it would ensure proper take-off of duties.
The Minister of Environment, Aisha Mohammed, said she would achieve the mandate given to the ministry by Mr. Buhari.
“As the minister of state has reiterated, there is a time frame and within that time frame we have to deliver the dividends of this administration to our people,” she said.
“The one commitment that we can make is that as we read through this brief that you’ve got here, it is about us building on the successes that we have in this ministry and ensuring that the teams that we have are working effectively with the skills that will take it to another level.
“It certainly can’t be business as usual because the President has said it and I hope that the Ministry of Environment will give the support to the Minister of State and myself to make real difference and to be a role model for what we mean by that in the country.
“The country has environmental issues everywhere. There is no part of this country that is devoid of the challenges that we have and what we need to do is to find the resources, those that are within the country and the other two tiers of government, the resources that are outside the borders of Nigeria to make sure that we make a considerable impact with what we have.’’
The Minister of State for Environment, Ibrahim Jubril, appealed to the workers to cooperate with him and the minister.
The Minister of State for Petroleum Resources, Emmanuel Kachikwu, said the outstanding subsidy payments to oil marketers approved by Mr. Buhari would be paid immediately the government gets the approval of the National Assembly.
He assured of constant fuel supply across the country.
Mr. Kachikwu, who said he would continue in office as Group Managing Director of NNPC, added, “One thing is certain, whatever time I spend here, it is going to be spent with a lot of respect for the dignity of people. I am a very respectful person and I give as much as I expect to have.”
He said he would soon engage the executives of the various parastatals with a view to finding out if they have the capacity and ability to deliver the change mantra.
On the pending Petroleum Industry Bill, the minister said: “Government believes in the bill still. Government wants to see the PIB come through. However, government has indicated that there is a need to look at the PIB as was submitted to the sixth assembly and try and tinker with it.
“There are all kinds of issues. One of them is whether we need to yank out the fiscal terms and develop them into a different law, rely on existing laws, amend them or whether we do that as a separate component of law.”
“We will be at the forefront of the battle to stop the scourge of unemployment in the country. We must as a people put on our thinking caps so that we can chart the way forward for employment generation.”
On her part, the Minister of Finance, Kemi Adesosun, at a meeting with senior officials of her ministry, said the federal government had a clear direction towards returning the nation to the path of growth.
She however said that would depend on the management and staff of the ministry.
Okechukwu Enelamah, the minister of industry, trade and investment, who was accompanied by the minister of state, Aisha Abubakar, to the ministry, pledged to start work immediately.
Mr. Enelamah revealed his excitement over his new assignment and asked for the cooperation and support of the officials of the ministry.
The new minister of Solid Minerals, Kayode Fayemi, also assumed duties at the ministry’s headquarters, in Abuja shortly after the inaugural meeting of the Federal Executive Council (FEC) on Wednesday.
Mr. Fayemi who was received by top officials of the ministry, held a meeting with them.
In attendance at the meeting were the Minister of State for Solid Minerals, Abubakar Bwari, the Permanent Secretary of the ministry, and some directors.
Mr. Fayemi told the officials of government’s plan to re-position the ministry as a major contributor to the economic growth of the country, adding that no stone would be left unturned in the bid to achieve the set goals.
Premium Times
Wednesday, November 11, 2015
Video - Nigerians turning waste to wealth
As Africa's most populated country, Nigeria produces huge volumes of waste each year, yet the country doesn't have an organised waste management system. There is however a group of savvy entrepreneurs who are managing to turn this waste into wealth.
Related story: Video - Recycling incetive introduced in Lagos, Nigeria
Nigerian political party PDP apologizes for past mistakes
The opposition Peoples Democratic Party has apologised to Nigerians for some of the mistakes the party made while it was in power between 1999 and 2015.
The party’s apologies were conveyed by the Chairman of the planning committee of the PDP National Conference, Raymond Dokpesi while addressing the media Tuesday in Abuja.
“We are aware of the errors of the past 16 years, as human beings, we must have made mistakes and we could not meet the expectations of Nigerians, for that we tender an unreserved apology,” Mr. Dokpesi said.
“Make no mistake, the PDP is aware that there were errors made along the way.
“We admit that at certain times in our past, mistakes have been made, we did not meet the expectations of Nigerians,” he said.
Mr. Dokpesi, who also announced that the party’s national conference would hold at the Thisday Dome in Abuja on Thursday said the PDP had learnt from its mistakes and that the conference was planned to find ways of reviewing issues fundamental to the promotion and sustenance of good governance and democratic ideals in Nigeria.
Mr. Dokpesi identified some of the mistakes made by the PDP to included a deviation from the vision and principles of the founding fathers of the party.
He also said the party’s decision to abandon its zoning formula greatly led to its predicament.
“The first fundamental mistake was made in 2010-2011 by not allowing the North to complete its tenure,” he said.
He also said the decision to block other party members interested in running for the presidency against former President Goodluck Jonathan and the abandonment of internal democracy as well as the inability to ensure that the party was supreme in all matters contributed to the problems of the PDP.
Mr. Dokpesi said the national conference would show Nigerians that the leadership of the PDP “mean business” and “are determined to turn things around”.
He said as a fallout of the matters arising from the last general elections, it had become necessary to bring together the different stakeholders of the PDP in a National Conference that would critically review the current state of affairs in the party and suggest modalities that would allow the party return to power at all levels of governance across the country.
HANDING OVER TO THE YOUTH
Mr. Dokpesi said the PDP would reinvent itself by transforming into a youth-oriented party.
In that regard, he said over 50 per cent of delegates for Thursday’s national conference were youth selected from the 774 local governments across Nigeria.
“We have decided that 774 youth below the age of 35, who must have a university degree or equivalent, are delegates to the conference,” he said.
He added that another batch of 774 female members who must also fall within the youth age bracket were also invited.
He said the National Working Committee of the party was determined to return the PDP to the ordinary members ahead the next national convention of the party, billed for March 2016.
“The young generation would be the centre of focus for the new PDP,” he said.
Premium Times
The party’s apologies were conveyed by the Chairman of the planning committee of the PDP National Conference, Raymond Dokpesi while addressing the media Tuesday in Abuja.
“We are aware of the errors of the past 16 years, as human beings, we must have made mistakes and we could not meet the expectations of Nigerians, for that we tender an unreserved apology,” Mr. Dokpesi said.
“Make no mistake, the PDP is aware that there were errors made along the way.
“We admit that at certain times in our past, mistakes have been made, we did not meet the expectations of Nigerians,” he said.
Mr. Dokpesi, who also announced that the party’s national conference would hold at the Thisday Dome in Abuja on Thursday said the PDP had learnt from its mistakes and that the conference was planned to find ways of reviewing issues fundamental to the promotion and sustenance of good governance and democratic ideals in Nigeria.
Mr. Dokpesi identified some of the mistakes made by the PDP to included a deviation from the vision and principles of the founding fathers of the party.
He also said the party’s decision to abandon its zoning formula greatly led to its predicament.
“The first fundamental mistake was made in 2010-2011 by not allowing the North to complete its tenure,” he said.
He also said the decision to block other party members interested in running for the presidency against former President Goodluck Jonathan and the abandonment of internal democracy as well as the inability to ensure that the party was supreme in all matters contributed to the problems of the PDP.
Mr. Dokpesi said the national conference would show Nigerians that the leadership of the PDP “mean business” and “are determined to turn things around”.
He said as a fallout of the matters arising from the last general elections, it had become necessary to bring together the different stakeholders of the PDP in a National Conference that would critically review the current state of affairs in the party and suggest modalities that would allow the party return to power at all levels of governance across the country.
HANDING OVER TO THE YOUTH
Mr. Dokpesi said the PDP would reinvent itself by transforming into a youth-oriented party.
In that regard, he said over 50 per cent of delegates for Thursday’s national conference were youth selected from the 774 local governments across Nigeria.
“We have decided that 774 youth below the age of 35, who must have a university degree or equivalent, are delegates to the conference,” he said.
He added that another batch of 774 female members who must also fall within the youth age bracket were also invited.
He said the National Working Committee of the party was determined to return the PDP to the ordinary members ahead the next national convention of the party, billed for March 2016.
“The young generation would be the centre of focus for the new PDP,” he said.
Premium Times
Nigeria rejects report stating it has world's worst airport
Unhelpful staff, demands for bribes, lack of seating, broken air-conditioning and a tent for an arrivals hall. Nigeria's Port Harcourt International Airport was recently voted the worst in the world.
The damning verdict came from a travel website, sleepinginairports.net, based on feedback from thousands of travellers on criteria such as terminal services and facilities, cleanliness and comfort.
As well as the dubious global honour, Port Harcourt, Nigeria's oil hub, was described as "the dirtiest and most corrupt airport in Africa".
The capital, Abuja, and financial hub, Lagos, were judged seventh and 10th worst on the continent.
But the country's aviation regulator, the Federal Airports Authority of Nigeria (FAAN), disputed the ranking.
FAAN spokesman Yakubu Dati called it "unfounded" as the domestic terminal at Port Harcourt was undergoing renovation and a new international terminal was being built.
Lagos' Murtala Muhammed International Airport has also undergone similar renovation, while Chinese engineers are building a new terminal at the Nnamdi Azikiwe airport in Abuja.
"While we regret any inconvenience experienced at these airports, including Port Harcourt International Airport, due to ongoing construction projects, we promise all airport users that services at these airports will surely get better at the completion of these projects," he told AFP.
Nigeria's aviation industry has evolved since the liquidation of the state-run Nigeria Airways in the early 2000s because of mismanagement and corruption.
With more than 20 functional planes in 1979, the national carrier was left with just two in 1999, prompting the government to throw open the skies to the private sector.
Carriers such as Arik Air, Dana Air, Aero Contractors, Med-View, Kabo and Overland Airways have since emerged as key players.
Arik, which has a partnership for maintenance with Lufthansa, is dominant with a strong presence on domestic and regional routes, as well as longer-haul flights to London, and Johannesburg.
Med-View recently got the nod to fly Lagos-London from November 20.
- Safety fears -
British Airways, Virgin Atlantic, Lufthansa, Air France-KLM, Gulf carriers Emirates and Qatar Airways and African airlines South African and Ethiopian are among international carriers flying to Nigeria.
On domestic routes, fuel shortages regularly lead to flight cancellations while air crashes, such as a Dana Air flight that came down in Lagos in 2012, killing 147, have generated safety fears.
In airports themselves, decaying or non-existent facilities have failed to make good impressions.
In 2012, the government awarded contracts to remodel Nigeria's 22 airports, including the construction of new terminals at four international airports, with the help of a $500 million loan from China's Nexim Bank.
On completion, the projects are expected to help grow passenger traffic to 16 million passengers per year, from 14.1 million in 2012.
Aviation experts, however, say the extent of works do not correspond to the money spent.
"The remodelling of the airports has been on for four years, but regrettably, not much is on ground in terms of modern facilities," said a former senior official of the Nigeria Airspace Management Agency on condition of anonymity.
The chairman of commercial carrier Arik, Joseph Arumemi-Ikhide, shared a similar view and called on the government to focus on infrastructure, from terminals to luggage conveyor belts.
"With this and good fuel supply the airlines can operate efficiently," he said.
Niyi Akinnaso, a US-based university teacher and newspaper columnist, said familiar Nigerian problems of mismanagement and corruption were holding the sector back.
The $500 million Chinese loan would not have been necessary if there were proper accountability in revenue collection, he argued in a recent article in The Punch newspaper.
He said the Federal Airports Authority of Nigeria rakes in more than $2 billion a year from passenger surcharges and other fees, including a $60 surcharge from every international ticket.
Yahoo
Related story: Port Harcourt International airport in Nigeria voted world's worst airport
The damning verdict came from a travel website, sleepinginairports.net, based on feedback from thousands of travellers on criteria such as terminal services and facilities, cleanliness and comfort.
As well as the dubious global honour, Port Harcourt, Nigeria's oil hub, was described as "the dirtiest and most corrupt airport in Africa".
The capital, Abuja, and financial hub, Lagos, were judged seventh and 10th worst on the continent.
But the country's aviation regulator, the Federal Airports Authority of Nigeria (FAAN), disputed the ranking.
FAAN spokesman Yakubu Dati called it "unfounded" as the domestic terminal at Port Harcourt was undergoing renovation and a new international terminal was being built.
Lagos' Murtala Muhammed International Airport has also undergone similar renovation, while Chinese engineers are building a new terminal at the Nnamdi Azikiwe airport in Abuja.
"While we regret any inconvenience experienced at these airports, including Port Harcourt International Airport, due to ongoing construction projects, we promise all airport users that services at these airports will surely get better at the completion of these projects," he told AFP.
Nigeria's aviation industry has evolved since the liquidation of the state-run Nigeria Airways in the early 2000s because of mismanagement and corruption.
With more than 20 functional planes in 1979, the national carrier was left with just two in 1999, prompting the government to throw open the skies to the private sector.
Carriers such as Arik Air, Dana Air, Aero Contractors, Med-View, Kabo and Overland Airways have since emerged as key players.
Arik, which has a partnership for maintenance with Lufthansa, is dominant with a strong presence on domestic and regional routes, as well as longer-haul flights to London, and Johannesburg.
Med-View recently got the nod to fly Lagos-London from November 20.
- Safety fears -
British Airways, Virgin Atlantic, Lufthansa, Air France-KLM, Gulf carriers Emirates and Qatar Airways and African airlines South African and Ethiopian are among international carriers flying to Nigeria.
On domestic routes, fuel shortages regularly lead to flight cancellations while air crashes, such as a Dana Air flight that came down in Lagos in 2012, killing 147, have generated safety fears.
In airports themselves, decaying or non-existent facilities have failed to make good impressions.
In 2012, the government awarded contracts to remodel Nigeria's 22 airports, including the construction of new terminals at four international airports, with the help of a $500 million loan from China's Nexim Bank.
On completion, the projects are expected to help grow passenger traffic to 16 million passengers per year, from 14.1 million in 2012.
Aviation experts, however, say the extent of works do not correspond to the money spent.
"The remodelling of the airports has been on for four years, but regrettably, not much is on ground in terms of modern facilities," said a former senior official of the Nigeria Airspace Management Agency on condition of anonymity.
The chairman of commercial carrier Arik, Joseph Arumemi-Ikhide, shared a similar view and called on the government to focus on infrastructure, from terminals to luggage conveyor belts.
"With this and good fuel supply the airlines can operate efficiently," he said.
Niyi Akinnaso, a US-based university teacher and newspaper columnist, said familiar Nigerian problems of mismanagement and corruption were holding the sector back.
The $500 million Chinese loan would not have been necessary if there were proper accountability in revenue collection, he argued in a recent article in The Punch newspaper.
He said the Federal Airports Authority of Nigeria rakes in more than $2 billion a year from passenger surcharges and other fees, including a $60 surcharge from every international ticket.
Yahoo
Related story: Port Harcourt International airport in Nigeria voted world's worst airport
President Muhammadu Buhari swears in new cabinet members
Nigerian President Muhammadu Buhari swore 36 ministers into his cabinet on Wednesday, nearly six months after he was sworn in.
Until now, although the senate had approved all 36 nominees, no one knew which portfolio each of the ministers would be assigned.
Buhari won March elections after vowing to crack down on corruption in Africa's biggest economy and top oil producer. He has been criticized for waiting until September to name his ministers at a time when the economy has been hammered by the fall in oil prices.
Buhari's cabinet is smaller than that of his predecessor, Goodluck Jonathan, who had 42 ministers. Under the constitution, the president must include a member from each of the country's 36 states.
Lengthy process
Garba Shehu, senior special assistant to the president on media and publicity, told VOA last month the selection process had taken this long because President Buhari, unlike previous presidents, has high expectations of his cabinet.
Professor Kabiru Mato, director of the political science department of the University Abuja, said Nigerians are anxious to know who will occupy some of the key cabinet posts, including the finance and foreign ministries, and especially whether Buhari will make good on his plan to take over the oil ministry, which accounts for nearly 70 percent of all Nigerian government revenue but which had been plagued in the past by corruption.
“After the swearing-in, the president will now allocate responsibilities or assign each of these 36 ministers to the various ministries and departments of government that they are supposed to serve. And after the portfolios are assigned, then the president said he’s going to have his first federal executive council meeting,” he said.
Mato said Nigerians do not know which ministers are going to occupy which departments because Buhari did not submit the nominees with their assigned portfolios at their senate confirmation hearing.
As a result, Mato said, much of what Nigerians know about the portfolios has been based on speculation. Some said the cabinet is made up of many familiar faces who helped elect Buhari.
Key ministries
Among the candidates for the key ministry of finance is Okechukwu Enyinna Enelamah, a former Goldman Sachs banker who heads Nigeria's biggest private equity firm, African Capital Alliance.
Mato said the new cabinet ministers will carry big responsibilities.
“Whoever the president nominated and confirmed by the senate, it is assumed that that person is going to be an agent of change. He’s also going to play a credible role that Nigeria is no longer going to be run with business as usual where people who are appointed to lofty cabinet positions are only to serve their aggrandizement as against providing their skills and entrepreneurship and expertise in moving the nation forward,” he said.
Mato said he hopes President Buhari will make good on his suggestion that he will to take over the oil ministry.
“The president’s body language seems to suggest that he’s going to appoint a minister of state for petroleum while he sits in as overall supervisor of the petroleum sector. I think that would be a very wise decision based on the fact that he desires to put some very tight control measures in the way and manner that national resources from the sale of oil, which of course constitutes more than 80 percent of the total income of the country,” Mato said.
VOA
Until now, although the senate had approved all 36 nominees, no one knew which portfolio each of the ministers would be assigned.
Buhari won March elections after vowing to crack down on corruption in Africa's biggest economy and top oil producer. He has been criticized for waiting until September to name his ministers at a time when the economy has been hammered by the fall in oil prices.
Buhari's cabinet is smaller than that of his predecessor, Goodluck Jonathan, who had 42 ministers. Under the constitution, the president must include a member from each of the country's 36 states.
Lengthy process
Garba Shehu, senior special assistant to the president on media and publicity, told VOA last month the selection process had taken this long because President Buhari, unlike previous presidents, has high expectations of his cabinet.
Professor Kabiru Mato, director of the political science department of the University Abuja, said Nigerians are anxious to know who will occupy some of the key cabinet posts, including the finance and foreign ministries, and especially whether Buhari will make good on his plan to take over the oil ministry, which accounts for nearly 70 percent of all Nigerian government revenue but which had been plagued in the past by corruption.
“After the swearing-in, the president will now allocate responsibilities or assign each of these 36 ministers to the various ministries and departments of government that they are supposed to serve. And after the portfolios are assigned, then the president said he’s going to have his first federal executive council meeting,” he said.
Mato said Nigerians do not know which ministers are going to occupy which departments because Buhari did not submit the nominees with their assigned portfolios at their senate confirmation hearing.
As a result, Mato said, much of what Nigerians know about the portfolios has been based on speculation. Some said the cabinet is made up of many familiar faces who helped elect Buhari.
Key ministries
Among the candidates for the key ministry of finance is Okechukwu Enyinna Enelamah, a former Goldman Sachs banker who heads Nigeria's biggest private equity firm, African Capital Alliance.
Mato said the new cabinet ministers will carry big responsibilities.
“Whoever the president nominated and confirmed by the senate, it is assumed that that person is going to be an agent of change. He’s also going to play a credible role that Nigeria is no longer going to be run with business as usual where people who are appointed to lofty cabinet positions are only to serve their aggrandizement as against providing their skills and entrepreneurship and expertise in moving the nation forward,” he said.
Mato said he hopes President Buhari will make good on his suggestion that he will to take over the oil ministry.
“The president’s body language seems to suggest that he’s going to appoint a minister of state for petroleum while he sits in as overall supervisor of the petroleum sector. I think that would be a very wise decision based on the fact that he desires to put some very tight control measures in the way and manner that national resources from the sale of oil, which of course constitutes more than 80 percent of the total income of the country,” Mato said.
VOA
Tuesday, November 10, 2015
President Muhammadu Buhari sacks anti-corruption chief
No reason was given for the removal of Ibrahim Lamorde, the chairman of the Economic and Financial Crimes Commission (EFCC).
In August, Mr Lamorde denied allegations that $5bn (£3.3bn) had gone missing at the commission.
Mr Buhari won Nigeria's presidential elections in March, promising to fight corruption in the country.
In August, a Senate committee said it was investigating charges that assets and cash recovered by the EFCC had been diverted.
At the time, Mr Lamorde told the BBC the charges were a smear campaign.
He led the EFCC for four years until his dismissal on Monday.
President Buhari's spokesman Garba Shehu said later on Monday that assistant Police Commissioner Ibrahim Mustafa Magu had been appointed as the EFCC acting commissioner.
President Buhari - the former army general known for his authoritarian style - was elected in March on a platform of cleaning up Nigerian politics, the BBC's Martin Patience in Lagos reports.
More than five months after he came to power his new cabinet is finally expected to be sworn in later this week. The reason for the extraordinary delay is that President Buhari wants to try to ensure that new ministers will not use their offices for personal gain, our correspondent says.
He adds that this has won Mr Buhari widespread support in Nigeria where many are tired of the corruption, which they believe is preventing the country from realising its full economic potential.
BBC
Monday, November 9, 2015
Video - MTN CEO resigns due to $5.2 billion fine imposed by Nigeria
MTN Group Ltd. Chief Executive Officer Sifiso Dabengwa unexpectedly resigned from Africa’s biggest mobile-phone operator to take responsibility for a $5.2 billion fine in Nigeria that’s wiped almost a fifth off the market value of the company.
Dabengwa will be replaced by former CEO and Chairman Phuthuma Nhleko, 55, for as many as six months while the company searches for a permanent successor, Johannesburg-based MTN said in a statement on Monday. Nhleko, who led MTN for almost nine years until 2011 and increased subscriber numbers 30-fold through rapid international expansion, said he will deal with the Nigerian Communications Commission personally about the penalty. Talks are at an advanced stage, according to people familiar with the matter, who asked not to be identified as discussions are private.
Nhleko said he will “pro-actively deal with the Nigerian regulator and will continue to work with them in addressing the issues.” MTN shares traded 1.8 percent higher at 160.35 rand as of 11:43 a.m. in Johannesburg.
Dabengwa, 57, resigned over the weekend after consultation with the board and his financial compensation hasn’t been decided, spokesman Chris Maroleng said by phone, describing the move as an “honorable gesture.” The company has until Nov. 16 to pay the Nigerian fine, which was imposed for missing a deadline to disconnect 5.1 million unregistered subscribers and is based on a charge of 200,000 naira ($1,008) for each unregistered customer.
“We’ve been anticipating this but not the timing,” Arthur Goldstuck, an analyst at World Wide Worx, said by phone. “One can only assume his role in the negotiations was not effective.”
MTN shares have declined about 16 percent since the Nigeria penalty was made public two weeks, valuing the company at 289 billion rand ($20.4 billion).
“The departure of Sifiso Dabengwa is the beginning of a clearing out that is necessary to regain the confidence of investors,” Goldstuck said.
MTN expanded into markets such as Iraq and Syria under Nhleko and now has more than 230 million customers in 22 countries. Nigeria is the company’s biggest market with more than 62 million subscribers, or almost a quarter of the total. The NCC last week approved the renewal and extension of MTN’s license for another five years until 2021 pending the payment of $94.2 million.
“Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect,” Dabengwa said in the statement. He didn’t answer calls to his mobile-phone seeking further comment.
“Sifiso leaving is a loss to the industry,” Shameel Joosob, CEO of MTN competitor Vodacom Group Ltd., said by phone. “I see this issue as a bump in the road. They will probably negotiate a settlement on the fine.”
Bloomberg
Nigeria wins World Scrabble Championship
The 32-year-old beat Englishman Lewis MacKay 4-0 in the final in Australia.
Nigerian President Muhammadu Buhari was among those to congratulate him, saying he has "done the country proud".
Mr Jighere said on his Facebook page that he felt he was playing with the "whole continent" behind him.
He added that it "still baffles" him that he managed to win, given how tired he felt as he had "not slept well in about a week".
Wellington Jighere put down:
Dacoit - a member of a class of robbers in India and Burma
Yow - Australian slang for keeping a look-out
Katti - an alternative spelling for a weight used in China
Aah - an expression of surprise
Lewis MacKay put down:
Jomo - an alternative spelling for zhomo, an animal bred from a yak and a cow
Yex - an Old English word for sobbing
Guiro - a musical instrument made from a gourd
Wemb - an obsolete alternative spelling of womb
Onely - an obsolete alternative spelling of only
He told the Guardian newspaper that he had training to deal with the fatigue from the jet lag, but also had to cope with 32 rounds of matches in four days before getting to the final in Perth.
Mr Jighere and the five other members of the Nigerian team only arrived in Australia the day before the tournament started, so had little chance to get over the 20-hour flight or the seven-hour time difference.
President Buhari phoned him in Perth to "rejoice" with him over the performance and pass on his congratulations to all the players, who finished the competition as the best team.
According to the president's spokesman, Mr Jighere "pledged to bring more glory to his fatherland".
Mr Jighere will be coming home with a $10,000 (£6,600) prize but now has to find a job.
He recently finished his national service following his graduation from university, but took a few months off from looking for work in order to prepare for the championship.
President of Nigeria's Scrabble federation Sulaiman Gora told the BBC on the telephone from Nigeria that Mr Jighere is a quiet person whose "greatest strength is humility".
Mr Gora, who also heads the Pan-African Scrabble federation, said that the "whole country and the whole of Africa is celebrating this success".
In 2008, Ivorian Elisee Poka won the French-language Scrabble World Championship and this year Schelick Ilagou Rekawe from Gabon reached the final of that competition. He lost to New Zealander Nigel Richards, who does not speak French.
BBC
Video - Nigeria defend title and defeat Mali in 2015 FIFA U17 World Cup Final
A very good Final at the FIFA U-17 World Cup Chile 2015 between the Nigerians and Malians was a worthy end to a fantastic event.
Friday, November 6, 2015
South African government concerned about $5.2 billion imposed by Nigeria on MTN
The South African government has expressed concerns about the $5.2 billion fine imposed on MTN by the Nigerian communications regulator.
Video - President Muhammadu Buhari warns Nigeria's cabinet against corruption
Nigerian President Muhammadu Buhari has warned his incoming cabinet ministers against committing any acts of corruption while in office.. Earlier in the year, President Buhari campaigned on a pledge to stamp out endemic graft in Africa's largest economy.
Britain plans to deport 29,000 Nigerians
Britain is working with the Federal Government on the planned deportation of 29,000 Nigerians from the United Kingdom, an exercise that is expected to commence soon after fulfillment of all legal obligations.
The UK stated that it would continue to maintain dialogue with the FG “on this important and sensitive matter which is of vital importance to our relations.”
The UK High Commission in Nigeria told our correspondent in Abuja that the removal of persons who did not have a right to remain in the UK is carried out in conjunction with relevant Nigerian authorities including the Nigeria High Commission in London.
The acting Nigeria High Commissioner in London, Olukunle Bamgbose, had informed Vice President Yemi Osinbajo, during his visit to London in October, 2015, that the UK government had placed deportation tag on 29,000 Nigerians.
He expressed worries over the removal policy of the UK government, noting that the migration policy came as a result of the migration crisis created by the troubled regions in the world.
“I think about 29,000 Nigerians have been designated to be deported. We are insisting that due process must be followed before Nigerians are really removed from the UK to Nigeria,” Bamgbose had said.
But responding to inquiries by our correspondent, the Press and Public Affairs Officer, UK High Commission, Joe Abuku, said the UK had always worked with FG to facilitate visas for large numbers of travellers between the two countries and “to ensure the return of the small minority who choose not to return when their visa expired.”
He did not confirm the number of Nigerians that would be affected by the deportation exercise, but stressed that those concerned would be removed “after we have determined nationality.”
PUNCH
The UK stated that it would continue to maintain dialogue with the FG “on this important and sensitive matter which is of vital importance to our relations.”
The UK High Commission in Nigeria told our correspondent in Abuja that the removal of persons who did not have a right to remain in the UK is carried out in conjunction with relevant Nigerian authorities including the Nigeria High Commission in London.
The acting Nigeria High Commissioner in London, Olukunle Bamgbose, had informed Vice President Yemi Osinbajo, during his visit to London in October, 2015, that the UK government had placed deportation tag on 29,000 Nigerians.
He expressed worries over the removal policy of the UK government, noting that the migration policy came as a result of the migration crisis created by the troubled regions in the world.
“I think about 29,000 Nigerians have been designated to be deported. We are insisting that due process must be followed before Nigerians are really removed from the UK to Nigeria,” Bamgbose had said.
But responding to inquiries by our correspondent, the Press and Public Affairs Officer, UK High Commission, Joe Abuku, said the UK had always worked with FG to facilitate visas for large numbers of travellers between the two countries and “to ensure the return of the small minority who choose not to return when their visa expired.”
He did not confirm the number of Nigerians that would be affected by the deportation exercise, but stressed that those concerned would be removed “after we have determined nationality.”
PUNCH
Video - Nigeria beat Mexico to make it to the FIFA U17 World Cup Final
The Nigerians and Mexicans lived up to all the hype and attacking promise in a thrilling last four at Chile 2015.
Wednesday, November 4, 2015
Nigeria cancels oil swap bidding
Nigeria's NNPC said on Tuesday it had cancelled bidding for new crude oil swap agreements and will instead directly sell crude oil to refiners, and purchase refined oil products from them.
State oil company NNPC said in a statement that the move was "designed to enshrine transparency and eliminate the activities of middlemen" in the swap scheme.
NNPC had shortlisted 44 companies for the swap agreements for 2016, also called "offshore processing arrangements" (OPAs), but said most of them did not directly operate refineries.
Getting oil products from such companies, NNPC said, would "constitute a significant value loss" for the country.
"Only bona fide owners of refineries identified in the ongoing OPA tender evaluation process will be further engaged," NNPC said in the statement.
Oil-rich Nigeria is reliant on imported gasoline, kerosene and other petroleum products. In addition to the swap arrangement, it also relies on an import subsidy scheme that is itself fraud-ridden and expensive.
Efforts to revamp its own long-neglected refineries this year have met with limited success.
NNPC is currently relying on interim swap agreements made in September after it cancelled the original 2015 deals because they were "skewed in favour of the companies."
The current swap agreement partners are NNPC trading subsidiary Duke Oil, an NNPC joint-venture called Calson, which is with Swiss trader Vitol, and another called Napoil, which is with commodities trader Trafigura.
Sources told Reuters that a non-incorporated joint venture between oil major BP and Nigermed Ltd was involved in such a deal and that Duke Oil's agreement would be done through Sahara Group.
Of these, Vitol, through Varo Energy, and BP directly operate refineries.
Other companies that put in bids for OPA agreements and have direct links to refineries include Litasco, Eni, Cepsa, Totsa, Essar, Saras and Eneos.
Reuters
State oil company NNPC said in a statement that the move was "designed to enshrine transparency and eliminate the activities of middlemen" in the swap scheme.
NNPC had shortlisted 44 companies for the swap agreements for 2016, also called "offshore processing arrangements" (OPAs), but said most of them did not directly operate refineries.
Getting oil products from such companies, NNPC said, would "constitute a significant value loss" for the country.
"Only bona fide owners of refineries identified in the ongoing OPA tender evaluation process will be further engaged," NNPC said in the statement.
Oil-rich Nigeria is reliant on imported gasoline, kerosene and other petroleum products. In addition to the swap arrangement, it also relies on an import subsidy scheme that is itself fraud-ridden and expensive.
Efforts to revamp its own long-neglected refineries this year have met with limited success.
NNPC is currently relying on interim swap agreements made in September after it cancelled the original 2015 deals because they were "skewed in favour of the companies."
The current swap agreement partners are NNPC trading subsidiary Duke Oil, an NNPC joint-venture called Calson, which is with Swiss trader Vitol, and another called Napoil, which is with commodities trader Trafigura.
Sources told Reuters that a non-incorporated joint venture between oil major BP and Nigermed Ltd was involved in such a deal and that Duke Oil's agreement would be done through Sahara Group.
Of these, Vitol, through Varo Energy, and BP directly operate refineries.
Other companies that put in bids for OPA agreements and have direct links to refineries include Litasco, Eni, Cepsa, Totsa, Essar, Saras and Eneos.
Reuters
Tuesday, November 3, 2015
Video - Farmers in Nigeria seek more incentives
Nigeria's President, Muhammadu Buhari says he plans to boost agriculture to create jobs and reduce the country's reliance on costly food imports.
Boko Haram post pictures of their rocket making factory
The group has used rocket-propelled grenades in the past and many Nigerians have been asking where the weapons have been coming from.
The photos seem to indicate that members of the group have the technical know-how to manufacture weapons.
The pictures are believed to have been taken in a college in Borno state.
They were sent as a Whatsapp messages to the BBC Hausa service using a telephone number from Cameroon, and have also been published on sites linked to so-called Islamic State, which Boko Haram has joined.
Analysts say it looks as though the machinery is from Bama, a town in north-eastern Nigeria recently recaptured from Boko Haram.
An inscription on one of the machines shows the abbreviation of Government Technical College Bama (GTCB).
The equipment appears to have been donated to the college by the Educational Trust Fund (ETF) in 2005.
It is not clear when the pictures were taken, or whether the equipment has been moved from Bama.
The army has recaptured most of the towns previously under Boko Haram control but the group still carries out frequent attacks, especially in Borno State, where Bama is located.
BBC
Nigerian fraudsters posing as anti-fraud bankers
Nigeria's central bank has warned that fraudsters are taking advantage of a major crackdown on fake bank accounts.
Customers had until the end of October to register their fingerprints and photographs at their local bank.
The bank says messages claiming to help reactivate registration are fraudulent and actually trying to get people's personal information.
Huge sums are allegedly stolen from Nigerian banks as a result of forgery and illegal withdrawals.
Customers who registered were given a Bank Verification Number (BVN) to use at cash machines, and for online and mobile transactions.
Banks are using the verification number along with customers' biometric information to check they are genuine.
Potentially millions of people could now be blocked from these services as less than half of Nigeria's 52 million bank account holders had registered on Friday, according to Central Bank of Nigeria (CBN) spokesman Ibrahim Mu'azu.
On Monday, he released a statement saying that "unscrupulous individuals" are trying to get people to reveal their personal details to use to defraud them.
He wrote that an example message says: "Dear customer, due to the new BVN policy by the CBN your account has been deactivated and to reactivate, call……".
He reminded customers that "neither the Central Bank of Nigeria and deposit money banks nor their employees or agents would ever call bank customers or send e-mail/text messages requesting for passwords, card details or personal identification number (PIN)".
BBC
Customers had until the end of October to register their fingerprints and photographs at their local bank.
The bank says messages claiming to help reactivate registration are fraudulent and actually trying to get people's personal information.
Huge sums are allegedly stolen from Nigerian banks as a result of forgery and illegal withdrawals.
Customers who registered were given a Bank Verification Number (BVN) to use at cash machines, and for online and mobile transactions.
Banks are using the verification number along with customers' biometric information to check they are genuine.
Potentially millions of people could now be blocked from these services as less than half of Nigeria's 52 million bank account holders had registered on Friday, according to Central Bank of Nigeria (CBN) spokesman Ibrahim Mu'azu.
On Monday, he released a statement saying that "unscrupulous individuals" are trying to get people to reveal their personal details to use to defraud them.
He wrote that an example message says: "Dear customer, due to the new BVN policy by the CBN your account has been deactivated and to reactivate, call……".
He reminded customers that "neither the Central Bank of Nigeria and deposit money banks nor their employees or agents would ever call bank customers or send e-mail/text messages requesting for passwords, card details or personal identification number (PIN)".
BBC
Half of the banks accounts in Nigeria risking closure for failing verification process
Nearly 20 months ago, Nigeria’s Central Bank called for the country’s 52 million bank account holders to undergo a registration process to obtain a unique Bank Verification Number (BVN ) which would serve as the first national numeric identifier.
The Central Bank hopes giving everyone a unique number, similar to the U.S.’ social security number, could help reduce banking fraud such as identify theft and help improve security in the country’s financial systems overall.
But despite calls to action and an extensive media campaign to get Nigerians to register, the Central Bank says it has failed to achieve a registration target of 50% and as such, more than 26 million account holders may be losing access to their accounts.
The problem seems to be that the process of registering for the Bank Verification Number was not as smooth as advertised. The Central Bank sold it as a simple process which could be completed within 24 hours but several days after registering, many were still waiting to have their own unique number generated.
The registration process involves the collection of biometric data and a photograph after which account holders are issued unique Bank Verification Numbers which, in addition to biometric data, will be used to authenticate and confirm transactions.
Launched in February last year, the Central Bank announced that the registration process would end by June 30, 2015. However, with Nigerians largely unresponsive, the Central Bank was forced to move the deadline for registration to October 31 after which it has insisted no further extension will be granted. The penalty for failing to register for the Bank Verification Number is a loss of access to the bank account.
Long queues and confusion were a recurring theme throughout the account verification process as banks often seemed unprepared for the mass exercise. Taking the Nigerian diaspora into consideration, the Central Bank ensured that the verification process could be undertaken in Nigerian embassies but the process seemed to lack organization and in London, the embassy was forced to call in the police to quell the disorder after huge crowds showed up.
The Central Bank has now extended the deadline for those in the diaspora to January 31, 2016.
Quartz
The Central Bank hopes giving everyone a unique number, similar to the U.S.’ social security number, could help reduce banking fraud such as identify theft and help improve security in the country’s financial systems overall.
But despite calls to action and an extensive media campaign to get Nigerians to register, the Central Bank says it has failed to achieve a registration target of 50% and as such, more than 26 million account holders may be losing access to their accounts.
The problem seems to be that the process of registering for the Bank Verification Number was not as smooth as advertised. The Central Bank sold it as a simple process which could be completed within 24 hours but several days after registering, many were still waiting to have their own unique number generated.
The registration process involves the collection of biometric data and a photograph after which account holders are issued unique Bank Verification Numbers which, in addition to biometric data, will be used to authenticate and confirm transactions.
Launched in February last year, the Central Bank announced that the registration process would end by June 30, 2015. However, with Nigerians largely unresponsive, the Central Bank was forced to move the deadline for registration to October 31 after which it has insisted no further extension will be granted. The penalty for failing to register for the Bank Verification Number is a loss of access to the bank account.
Long queues and confusion were a recurring theme throughout the account verification process as banks often seemed unprepared for the mass exercise. Taking the Nigerian diaspora into consideration, the Central Bank ensured that the verification process could be undertaken in Nigerian embassies but the process seemed to lack organization and in London, the embassy was forced to call in the police to quell the disorder after huge crowds showed up.
The Central Bank has now extended the deadline for those in the diaspora to January 31, 2016.
Quartz
Monday, November 2, 2015
Video - Nigeria launching identity datatbase
Nigeria is trying to launch a new national identity database and card for the fourth time after three failed previous attempts. The government says it will help improve national planning, access to public services, and security. Al Jazeera's Yvonne Ndege reports from Abuja.
Video - Nigeria beat Brazil in FIFA U17 World Cup to reach semi-final
The Golden Eaglets of Nigeria are through to the semi-final of the FIFA U17 World Cup ongoing in Chile after they thrashed one of the tournament favourites, Brazil, 3-0, on Sunday night.
Five minutes of magic in the first half was all Nigeria needed as the Eaglets punished the Brazilians with three successive goals.
It was Victor Oshimen that got the curtain raiser as he broke the deadlock in the 29th minute to score his eighth goal of the tournament.
Kinglsey Micheal doubled the advantage for Nigeria moments later with a nice volley while a long shot from range from Udochukwu Anumudu in the 34th minute effectively killed the game.
Brazil came all out with the attempt get back into the game in the second half but the Eaglets held their own to become the first team to make it to the semi final.
The second half had very few clear-cut opportunities, with Funsho Bamgboye and Evander going closest for either side.
With the win, the Eaglets will head to Concepcion for Thursday’s semi-final against the winner of tomorrow’s quarter-final between Ecuador and Mexico.
Nigeria has never lost a semi-final match in the history of the FIFA U17 World Cup.
Premium Times
Friday, October 30, 2015
Video - Nigerian government working house Lagos' booming population
Authorities in the Nigerian commercial capital of Lagos are working to overcome a severe housing shortage as the city's population continues to grow at a rapid rate. With the current population of 20 million expected to increase to 25 million in about fifteen years, finding a solution is proving challenging.
Obafemi Martins and Kelechi Iheanacho join Super Eagles squad
Strikers Obafemi Martins and Kelechi Iheanacho are in Nigeria's squad to face Swaziland in a two-legged World Cup qualifier in November.
"It was a bit of a shock, but a nice shock," Martins, who was last called up in March 2013, told BBC Sport.
"I'm very happy, because I have always worked hard, supported and respected all the players picked by the coaches."
Iheanacho has been selected only days after starring for Manchester City in the cup win over Crystal Palace.
The 19-year-old scored and made two assists in his side's 5-1 victory on Wednesday, a performance which brought high praise from his club manager Manuel Pellegrini.
Super Eagles coach Sunday Oliseh needed to bring in strikers following the recent decision by Emmanuel Emenike to retire from internationals.
Martins last played for his country in March 2013 for a 2014 World Cup qualifier against Kenya.
Despite being his country's most in-form striker last year, alongside Ikechukwu Uche, he was omitted from the Brazil 2014 squad.
However his good form has continued this season - he has struck 15 goals for MLS side Seatlle Sounders - and Martins is determined to make the most of his Super Eagles recall.
"I thank coach Oliseh for this great opportunity. I'm just looking forward to going out there and playing for Nigeria again," he said.
Another player returning to the international fold is Lazio midfielder Ogenyi Onazi, who missed Nigeria's last competitive game against Tanzania in September due to suspension.
Former Nigeria international Oliseh has also kept faith in English Premier League trio of John Mikel Obi, Odion Ighalo and Alex Iwobi.
But there is no place in the squad for Kenneth Omeruo or West Ham's Victor Moses, who pulled out of Nigeria's friendlies against DR Congo and Cameroon two weeks ago.
Swaziland will host the first leg of the World Cup qualifier in Lobamba on 13 November, with the return leg at the Adokiye Amiesiamaka Stadium in Port Harcourt four days later.
The winner will advance to the final group phase to decide Africa's five representatives at the tournament in Russia.
Nigeria squad:
Goalkeepers: Carl Ikeme (Wolverhampton Wanderers, England); Ikechukwu Ezenwa (Sunshine Stars); Dele Alampasu (Club de Sportivo Feirense, Portugal)
Defenders: Abdullahi Shehu (Uniao da Madeira, Portugal); Kalu Orji (Enugu Rangers FC); Elderson Echiejile (AS Monaco, France); Chima Akas (Sharks FC); Leon Balogun (FSV Mainz, Germany); Godfrey Oboabona (Caykur Rizespor, Turkey); Efe Ambrose (Celtic FC, Scotland); Austin Oboroakpo (Abia Warriors)
Midfielders: Ogenyi Onazi (SS Lazio, Italy); Paul Onobi (Sunshine Stars); John Mikel Obi (Chelsea FC, England); Rabiu Ibrahim (AS Trencin, Slovakia); Wilfred Ndidi (KRC Genk, Belgium); Sylvester Igbonu (FC UFA, Russia)
Forwards: Ahmed Musa (CSKA Moscow, Russia); Moses Simon (KAA Gent, Belgium); Odion Ighalo (Watford FC, England); Ezekiel Bassey (Enyimba FC); Alex Iwobi (Arsenal FC, England); Obafemi Martins (Seattle Sounders, USA); Kelechi Iheanacho (Man City, England)
BBC
"It was a bit of a shock, but a nice shock," Martins, who was last called up in March 2013, told BBC Sport.
"I'm very happy, because I have always worked hard, supported and respected all the players picked by the coaches."
Iheanacho has been selected only days after starring for Manchester City in the cup win over Crystal Palace.
The 19-year-old scored and made two assists in his side's 5-1 victory on Wednesday, a performance which brought high praise from his club manager Manuel Pellegrini.
Super Eagles coach Sunday Oliseh needed to bring in strikers following the recent decision by Emmanuel Emenike to retire from internationals.
Martins last played for his country in March 2013 for a 2014 World Cup qualifier against Kenya.
Despite being his country's most in-form striker last year, alongside Ikechukwu Uche, he was omitted from the Brazil 2014 squad.
However his good form has continued this season - he has struck 15 goals for MLS side Seatlle Sounders - and Martins is determined to make the most of his Super Eagles recall.
"I thank coach Oliseh for this great opportunity. I'm just looking forward to going out there and playing for Nigeria again," he said.
Another player returning to the international fold is Lazio midfielder Ogenyi Onazi, who missed Nigeria's last competitive game against Tanzania in September due to suspension.
Former Nigeria international Oliseh has also kept faith in English Premier League trio of John Mikel Obi, Odion Ighalo and Alex Iwobi.
But there is no place in the squad for Kenneth Omeruo or West Ham's Victor Moses, who pulled out of Nigeria's friendlies against DR Congo and Cameroon two weeks ago.
Swaziland will host the first leg of the World Cup qualifier in Lobamba on 13 November, with the return leg at the Adokiye Amiesiamaka Stadium in Port Harcourt four days later.
The winner will advance to the final group phase to decide Africa's five representatives at the tournament in Russia.
Nigeria squad:
Goalkeepers: Carl Ikeme (Wolverhampton Wanderers, England); Ikechukwu Ezenwa (Sunshine Stars); Dele Alampasu (Club de Sportivo Feirense, Portugal)
Defenders: Abdullahi Shehu (Uniao da Madeira, Portugal); Kalu Orji (Enugu Rangers FC); Elderson Echiejile (AS Monaco, France); Chima Akas (Sharks FC); Leon Balogun (FSV Mainz, Germany); Godfrey Oboabona (Caykur Rizespor, Turkey); Efe Ambrose (Celtic FC, Scotland); Austin Oboroakpo (Abia Warriors)
Midfielders: Ogenyi Onazi (SS Lazio, Italy); Paul Onobi (Sunshine Stars); John Mikel Obi (Chelsea FC, England); Rabiu Ibrahim (AS Trencin, Slovakia); Wilfred Ndidi (KRC Genk, Belgium); Sylvester Igbonu (FC UFA, Russia)
Forwards: Ahmed Musa (CSKA Moscow, Russia); Moses Simon (KAA Gent, Belgium); Odion Ighalo (Watford FC, England); Ezekiel Bassey (Enyimba FC); Alex Iwobi (Arsenal FC, England); Obafemi Martins (Seattle Sounders, USA); Kelechi Iheanacho (Man City, England)
BBC
Thursday, October 29, 2015
Nigeria issues 'Most Wanted' list of Boko Haram suspects
Nigeria's army has published photos of nearly 100 people whom it says are its most-wanted Boko Haram suspects.
The army urged the public to phone special hotlines if any of the suspects were spotted, as it steps up efforts to hunt down the Islamist militants.
President Muhammadu Buhari, who took office in May, has given the military a mid-November deadline to defeat them.
Boko Haram has lost most of its territory this year but increased suicide attacks and bombings since May.
It began its insurgency in 2009 in north-eastern Nigeria, but has since spread its activities to neighbouring Chad, Cameroon and Niger.
Boko Haram is allied with the Islamic State (IS) group which is fighting for a global caliphate - a state governed in accordance with Islamic law.
The photos on the list appear to have been sourced from Boko Haram propaganda material, including videos, reports the BBC's Bashir Sa'ad Abdullahi from the capital, Abuja.
Its leader Abubakar Shekau appears twice on the list, despite previous claims by the army that he had been killed and claims by Chad's President Idriss Deby in August that the group had a new leader who was open to dialogue.
The army say it will circulate the banner across the country to help it track down the insurgent leaders.
Appeals for public co-operation are written in English as well as Hausa and Kanuri, the two main languages in Nigeria's north-eastern areas where Boko Haram is most active.
BBC
Video - Nigeria Golden Eaglets beat Australia 6-0 in FIFA U-17 World Cup
The Nigerian Golden Eaglets beat their counterpart from Australia 6 0 thereby advancing to the FIFA U-17 World Cup Chile 2015 quarter-finals.
They are to play Brazil who edged past New Zealand by one goal in Vina Del Mar.
The match which will be played on Sunday will be a battle between world’s number one in the U-17 category which is Nigeria’s Golden Eaglets and Brazil the number two.
Reigning FIFA U-17 World Cup champions Nigeria advanced to a quarter-final meeting against Brazil on the back of a hat-trick from the impressive Victor Osimhen, ending Australia’s run with a one-sided 6-0 victory in Vina Del Mar.
The tale of the first half was compacted into a three-minute period as Nigeria scored twice sandwiched either side of a gilt-edged opening for Australia.
It was 2-0 at the interval, and the game was still a contest until the final 17 minutes before Nigeria ran riot against an Australian side looking flat after surviving the ‘group of death’.
The Aussies started in pro-active fashion, but it was Funsho Ibrahim Bamgboye who hit the post with a rasping shot from the edge of the penalty area as Nigeria’s first effort narrowly failed to break the deadlock.
That moment came on 22 minutes as Osimhen showed just why he is the tournament’s leading goalscorer by bursting forward with pace and power on the left, before turning his defender and sliding the ball impressively inside the far post.
Australia could have drawn level immediately with Cameron Joice seeing his shot saved, while Lucas Derrick pushed the follow-up wide as a golden opportunity was spurned.
Almost immediately Nigeria were two in front as Funsho Bambgboye went to ground in the penalty area, and Kelechi Nwakali coolly slotted home the resultant penalty.
The two goals seemed to inspire the Nigerians who took a greater hold as the half wore on creating several half-openings around the Aussie goal.
Nigeria continued their powerful performance after the break, and although Australia dominated possession for periods, it was the Africans who ended the contest with a third.
Osimhen scored twice in the space of six minutes, the second with another laser-perfect drive into the top corner.
The deflated Aussies conceded to more goals in the dying minutes as firstly substitute Edidiong Michael Essien, and then Samuel Chukwueze, inflicted further pain as Nigeria stormed into the last-eight in confident fashion.
Vanguard
Wednesday, October 28, 2015
Video - Electricity tariff in Nigeria increases by 40%
The Nigerian Electricity Regulatory Commission has implemented the first phase of a multi-year tariff increase system by enforcing a 40% rise in the cost of using the state utility. Nigeria's power grid currently supplies just over 4800 Megawatts of electricity to an estimated population of 177 million people.
Nigerian military rescues 338 civilians captured by Boko Haram
Nigerian troops have rescued 338 people, mainly women and children, held by the Islamist group Boko Haram in their Sambisa forest stronghold in the country's north-east.
The soldiers killed 30 suspected jihadists and seized a cache of arms and ammunition, the military said, adding that 138 women and 192 children were among the survivors.
It is unclear whether any of the hostages rescued were part of the group of 276 schoolgirls kidnapped in Chibok last April.
Elsewhere in Nigeria, troops ambushed and killed four suspected Boko Haram operatives on a suicide bombing mission in the eastern state of Adamawa. The soldiers recovered two AK-47 rifles, mortar bombs, and other “unexploded ordinances”.
Nigerian army public relations director, Colonel Sani Kukasheka Usman told AllAfrica.com that "the successful clearance operations and ambushing of the terrorists has further degraded them and saved the lives of so many innocent victims of their suicide bombings".
The colonel also noted that the raid coincided with the Nigerian army chief Tukur Buratai’s visit to the armed forces’ Mubi headquarters.
President Muhammadu Buhari, who came to power in May on a pledge to crush Boko Haram, has given his military commanders until the end of December to defeat the group, whose insurgency has killed at least 17,000 people and forced more than 2.5 million to flee their homes since 2009.
The Telegraph
The soldiers killed 30 suspected jihadists and seized a cache of arms and ammunition, the military said, adding that 138 women and 192 children were among the survivors.
It is unclear whether any of the hostages rescued were part of the group of 276 schoolgirls kidnapped in Chibok last April.
Elsewhere in Nigeria, troops ambushed and killed four suspected Boko Haram operatives on a suicide bombing mission in the eastern state of Adamawa. The soldiers recovered two AK-47 rifles, mortar bombs, and other “unexploded ordinances”.
Nigerian army public relations director, Colonel Sani Kukasheka Usman told AllAfrica.com that "the successful clearance operations and ambushing of the terrorists has further degraded them and saved the lives of so many innocent victims of their suicide bombings".
The colonel also noted that the raid coincided with the Nigerian army chief Tukur Buratai’s visit to the armed forces’ Mubi headquarters.
President Muhammadu Buhari, who came to power in May on a pledge to crush Boko Haram, has given his military commanders until the end of December to defeat the group, whose insurgency has killed at least 17,000 people and forced more than 2.5 million to flee their homes since 2009.
The Telegraph
Nigeria fines South Africa phone company $5.2bn
Nigeria has imposed a record $5.2bn fine on a South African mobile phone company for failing to register users, raising concerns that regulations are being tightened to compensate for a budget shortfall.
The unprecedented fine has already caused a 16% drop in the share price of MTN, Africa’s largest mobile phone company, and threatens the firm’s future in Nigeria, its biggest and most profitable market.
There are fears that the fine, which came on the same day that regulators acted against another South African company, could deter foreign businesses from investing in Nigeria.
Nigerian regulators accused MTN of failing to deactivate unregistered sim cards in a timely manner, and argue that the fine is designed “to ensure that the wilful non-compliance ceases”.
Unregistered sim cards are seen as a major security threat by the Nigerian government, which is concerned that anonymous numbers facilitate terrorism and crime.
Yet the size of the fine, which works out to more than $1,000 for each of the 5.1 million unregistered cards, is seen as excessive. Last year Nigeria’s parliament recommended that Shell pay a $3.96bn fine for a major oil spill at its offshore Bonga oilfield that caused long-lasting environmental damage.
Analysts suggest that the fine could be a form of income generation for the government, which is struggling after the sharp decline in oil prices. If collected, the fine would represent nearly a quarter of the government’s $22.6bn annual budget for 2015.
“Nigeria’s fiscus is in serious trouble. Whatever way the Nigerian state can recoup lost revenues from oil, then so be it,” said Martyn Davies of market consultants Deloitte-Frontier Advisory. Davies warned that the government’s budget shortfall would make life more difficult for foreign companies already in Nigeria, and discourage others from investing. Already, he said, foreign companies are finding it harder to take money out of the country as regulators interpret the rules more strictly.
The fine has come as a shock to MTN’s shareholders, who know that Nigeria is the company’s largest and most profitable market. Significantly, the company’s Nigerian operating licence is up for renewal next year and there are fears that run-ins with the regulator could threaten this renewal.
MTN’s share price on the Johannesburg Stock Exchange has collapsed since the fine was imposed, with the company losing 16% of its value in just two days of trading. The company is also being investigated by the stock exchange over accusations that it failed to officially alert shareholders to the fine for more than seven hours after it first became public.
Beyond a public statement confirming the fine, MTN has not commented beyond saying that it hopes to reach a lower settlement. Failing that, analysts expect lengthy court proceedings or a dramatic exit from Nigeria.
“The fee is also totally unreasonable and if it did stick, I can’t see how MTN can remain in business. The average revenue per user is around $5 in Nigeria, but they were fined just over $1,000 per unregistered user,” said Stuart Lowman, business reporter for South African site biznews.com.
The fine came on the same day that another South African company got on the wrong side of Nigerian regulators. Stanbic IBTC, the Nigerian subsidiary of South Africa’s Standard Bank, was ordered to withdraw and restate its 2013 and 2014 financial statements amid suspicion of “accounting irregularities and poor disclosures”. Stanbic denies any wrongdoing, but four directors – including the current chairman and CEO – have been suspended until the matter is resolved.
The problems encountered by two of South Africa’s most prominent companies in Nigeria has caused concern. “Both MTN and Standard Bank’s Nigerian operations were hammered on the same day, which may look like an SA-focussed clampdown,” said Lowman.
The two countries are fierce economic rivals, with Nigeria overtaking South Africa to become the largest economy on the continent last year. Yet South African companies are still far better represented in Nigeria than the reverse, which creates its own tensions.
“The perception of South African companies in Nigeria is not good, despite the good practices of many South African companies. The general state of relations is not positive, and this certainly can’t be helping things,” said Davies.
The Guardian
The unprecedented fine has already caused a 16% drop in the share price of MTN, Africa’s largest mobile phone company, and threatens the firm’s future in Nigeria, its biggest and most profitable market.
There are fears that the fine, which came on the same day that regulators acted against another South African company, could deter foreign businesses from investing in Nigeria.
Nigerian regulators accused MTN of failing to deactivate unregistered sim cards in a timely manner, and argue that the fine is designed “to ensure that the wilful non-compliance ceases”.
Unregistered sim cards are seen as a major security threat by the Nigerian government, which is concerned that anonymous numbers facilitate terrorism and crime.
Yet the size of the fine, which works out to more than $1,000 for each of the 5.1 million unregistered cards, is seen as excessive. Last year Nigeria’s parliament recommended that Shell pay a $3.96bn fine for a major oil spill at its offshore Bonga oilfield that caused long-lasting environmental damage.
Analysts suggest that the fine could be a form of income generation for the government, which is struggling after the sharp decline in oil prices. If collected, the fine would represent nearly a quarter of the government’s $22.6bn annual budget for 2015.
“Nigeria’s fiscus is in serious trouble. Whatever way the Nigerian state can recoup lost revenues from oil, then so be it,” said Martyn Davies of market consultants Deloitte-Frontier Advisory. Davies warned that the government’s budget shortfall would make life more difficult for foreign companies already in Nigeria, and discourage others from investing. Already, he said, foreign companies are finding it harder to take money out of the country as regulators interpret the rules more strictly.
The fine has come as a shock to MTN’s shareholders, who know that Nigeria is the company’s largest and most profitable market. Significantly, the company’s Nigerian operating licence is up for renewal next year and there are fears that run-ins with the regulator could threaten this renewal.
MTN’s share price on the Johannesburg Stock Exchange has collapsed since the fine was imposed, with the company losing 16% of its value in just two days of trading. The company is also being investigated by the stock exchange over accusations that it failed to officially alert shareholders to the fine for more than seven hours after it first became public.
Beyond a public statement confirming the fine, MTN has not commented beyond saying that it hopes to reach a lower settlement. Failing that, analysts expect lengthy court proceedings or a dramatic exit from Nigeria.
“The fee is also totally unreasonable and if it did stick, I can’t see how MTN can remain in business. The average revenue per user is around $5 in Nigeria, but they were fined just over $1,000 per unregistered user,” said Stuart Lowman, business reporter for South African site biznews.com.
The fine came on the same day that another South African company got on the wrong side of Nigerian regulators. Stanbic IBTC, the Nigerian subsidiary of South Africa’s Standard Bank, was ordered to withdraw and restate its 2013 and 2014 financial statements amid suspicion of “accounting irregularities and poor disclosures”. Stanbic denies any wrongdoing, but four directors – including the current chairman and CEO – have been suspended until the matter is resolved.
The problems encountered by two of South Africa’s most prominent companies in Nigeria has caused concern. “Both MTN and Standard Bank’s Nigerian operations were hammered on the same day, which may look like an SA-focussed clampdown,” said Lowman.
The two countries are fierce economic rivals, with Nigeria overtaking South Africa to become the largest economy on the continent last year. Yet South African companies are still far better represented in Nigeria than the reverse, which creates its own tensions.
“The perception of South African companies in Nigeria is not good, despite the good practices of many South African companies. The general state of relations is not positive, and this certainly can’t be helping things,” said Davies.
The Guardian
Subscribe to:
Posts (Atom)