SABINEWS MORNING NEWS UPDATE DECEMBER 25, 2018
Buhari, Atiku others urge love, goodwill at Christmas
President Muhammadu Buhari yesterday tasked Nigerians especially Christians to be guided by the principles of love as they celebrate Christmas.He gave the admonition yesterday in a message to mark this year’s Christian anniversary of the birth of Jesus Christ. In a signed statement, Buhari told celebrants that as they “exchange gifts, pray and visit loved ones,” they should also remember “many others who cannot be with their families at this time.” According to him, “Our brave Armed Forces, and other security men and women who make incredible sacrifices to keep us safe, the aged, the sick, physically challenged persons, all deserve our goodwill in this season of love and sharing.
Buhari: My Commitment to Free, Fair Elections Irrevocable
President Muhammadu Buhari yesterday, in his Christmas message to Nigerians, said his promise to conduct free, fair and credible polls in 2019 was an oath, which could not be broken. The president also condemned the killing of innocent Nigerians in Birnin Magaji community in Tsafe Local Government Area and Magami community in Faru District of Maradun Local Government Area of Zamfara State, by suspected bandits, warning that such horrendous violent acts must stop. Buhari in a statement insisted that his promise to ensure the conduct of free, fair and credible general election in 2019 is not a mere lip service, but rather a bond on which the future of Nigerians and the safety of unborn generations is predicated.
NNPC reserves 3 billion litres of petrol for Yuletide
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday assured of uninterrupted supply of fuel during the Christmas and New Year celebrations and beyond, saying it has 60-day fuel in stock. He said the corporation imports about 60 million litres of fuel daily, while it evacuates about 50 million litres daily, leaving an excess supply of 10 million litres. Baru, who toured some filling stations around Abuja metropolis to monitor fuel supply situation and sales, noted that under-recovery of petrol has reduced significantly.He said the corporation has put measures in place to ensure that Nigerians don’t witness another fuel scarcity in the country.
Otedola to sell Forte Oil shares, exit fuel business
The Chairman of Forte Oil Plc, Mr Femi Otedola, has announced his decision to sell all his shares in the firm’s downstream business. This is coming more than three years after the firm sold 17 per cent of its equity to a Swiss oil trading firm. Forte Oil disclosed on Monday the divestment by its majority shareholder in a notice signed by its General Counsel, Mr Akinleye Olagbende. The notice read in part, “Forte Oil Plc hereby notifies the Nigerian Stock Exchange, Securities and Exchange Commission, shareholders and the investing community that its majority shareholder, Mr Femi Otedola, has reached an agreement with the Prudent Energy team, investing through Ignite Investments and Commodities Limited, to divest of his full 75 per cent direct and indirect shareholding in the company’s downstream business.
Wike accommodates new wage in N480b 2019 budget
Governor Nyesom Wike has accommodated the expected new minimum wage in the 2019 Appropriation Bill of N480billion he presented to the Rivers State House of Assembly yesterday. The budget designed to achieve sustainable growth and development is less than the N510billion 2018 appropriation bill. Wike said the 2019 proposals were specifically aimed at promoting economic growth and diversification, creating jobs to reduce unemployment and poverty and as well, improving the living standard of the people.
Buhari: Nigeria recorded many unnecessary deaths in 2018
President Muhammadu Buhari on Monday sent warm greetings to Nigerians, particularly Christians, as they celebrated Christmas, the birth of Jesus Christ. But he quickly acknowledged that 2018 was a mixed year of mindless bloodletting and the recovery of the country’s economy from recession, among other challenges. Buhari personally signed his Christmas message. He wrote, “I felicitate with all Nigerians, particularly our Christian brothers and sisters, on the joyous occasion of this year’s Christmas, which commemorates the birth of Jesus Christ. “Like I have done in the last three Christmas messages to my fellow compatriots as a serving President, I believe this season is another opportunity to reflect on the imagery of the humble, symbolic and divine birth of a young child thousands of years ago in Bethlehem, Judea, and the message of hope, compassion, salvation, reconciliation, forgiveness and peace that Jesus Christ embodies and conveys.”
More Trouble for 2019 Budget as Oil Price Slumps to $53
The implementation of the 2019 budget presented recently to the National Assembly by President Muhammadu Buhari has continued to face increasing threats as oil prices dropped further yesterday, nearing their lowest level this year. The global stock markets also declined after they came under pressure from concern about a United States government shutdown and a worsening world economy. The price of oil has already fallen by more than 30 per cent so far this quarter to its lowest since the third quarter of 2017.
CBN Reverses Directive on $8.1bn MTN Refund
The Central Bank of Nigeria (CBN) yesterday said it had reversed its sanction on MTN Nigeria Limited, imposing a refund of $8.1billion the telecom company had remitted abroad in violation of foreign exchange remittances law of the country. The MTN also confirmed this development in a statement yesterday. The CBN had in August, directed MTN Nigeria to reverse repatriations valued at $8.1 billion done on its behalf by four commercial banks between 2007 and 2015 on the basis of Certificates of Capital Importation (CCIs), which were alleged to have been irregularly issued to MTN Nigeria.
Cricket federation suspends ex-president Onyeama
The General Assembly of Nigeria Cricket Federation has suspended the federation’s immediate-past president, Emeka Onyeama, over allegations of gross misconduct and financial misappropriation, an official said on Sunday in Abuja. Musa Ehizoje, the federation’s Public Relations Officer, disclosed this in a statement on the outcome of the Annual General Meeting held on Saturday at the Abuja National Stadium. “After the report from the NCF Ethics and Disciplinary Committee, the General Assembly unanimously suspended the federation’s former president, Emeka Onyeama, from all of the federation’s activities.
Oladipo gives car to domestic violence survivor
After being named the NBA’s Most Improved Player for the 2017-18 season, Indiana Pacers guard Victor Oladipo decided he could do good after a strong first season in Indianapolis. In winning the award, which was sponsored by Kia, Oladipo was given a new Kia Sportage, but he decided that he could find a more deserving driver. During Sunday’s game against the Wizards, Oladipo gave away the car to domestic violence survivor and advocate Renita Hills.