October 17, 2018

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*FG rules out full implementation of 2016 Budget *FG to reposition sovereign wealth fund

*FG rules out full implementation of 2016 Budget *FG to reposition sovereign wealth fund

SABINEWS EVENING NEWS UPDATE FOR MAY 6, 2016

FG rules out full implementation of 2016 Budget

The Federal Government has ruled out the possibility of full implementation of the 2016 Appropriation Act signed by President Muhammadu Buhari on Friday.

The Minister of Budget and National Planning, Senator Udo Udoma, said this while briefing State House correspondents shortly after Buhari signed the budget at the President Villa, Abuja. Read more

FG to reposition sovereign wealth fund

The Federal Ministry of Finance has unfolded plans to reposition the Sovereign Wealth Fund in line with the infrastructure objectives of the federal government.

The Minister of Finance, Mrs Kemi Adeosun said this in a statement made available to our correspondent by her Media Adviser, Mr Festus Akanbinon Friday. Read more

Oil Prices Erase Losses as Production Outages Grow

Oil futures erased early losses Friday and drove higher as Canadian wildfires spread, further crimping oil production in the top supplier to the U.S., and an attack on a Nigerian production facility hampered output there.

The U.S. oil benchmark had been down as much as 1.8% in early trading but shook off losses beginning around 9 a.m. EDT and climbed higher, recently trading up 0.8% at $44.68 a barrel on the New York Mercantile Exchange. The global Brent contract also reversed an early decline, recently trading up 0.9% at $45.43 a barrel on the ICE Futures Europe exchange. Read more

APC Finally Reconciles Kano Foes, Ganduje, Kwankwaso

The leadership of the All Progressives Congress (APC) has brokered  a peace deal between the governor of Kano state, Dr. Umar Abdullahi Ganduje, and his predecessor, Senator Rabiu Musa Kwankwaso, after securing their commitment to work  together in the interest of the people.

Kano state had been on the boil in recent times on account of a political dispute involving Governor Ganduje and Senator Kwankwaso which had snowballed into a wider conflict threatening to divide the party in the state. Read more

Delta: 16 suspected oil pipeline vandals arrested by Military

To check incessant attacks on the country’s oil pipeline, the Joint Military Force (JMF) in the Niger Delta said it had arrested 16 suspects who allegedly vandalised pipelines and engaged in illegal bunkering in Delta.

Col. Isa Ado, spokesman of Operation Pulo Shield, the task force, made this knownat a news conference at the 222 Battalion Headquarters in Ughelli in Delta on Friday. Ado said that the suspects were nabbed in two separate operations. Read more

Insecurity: Abia Moves to Deploy Bakassi Boys

With rising uneasiness over the menace of Fulani herdsmen, the governor of Abia State, Dr Okezie Ikpeazu, has concluded plans to deploy the State Vigilante Services (AVS) popularly known as Bakassi Boys to communities across the state to assist in providing security.

The governor also vehemently condemned the killing of two butchers by soldiers at the abattoir in the Ogbor Hill area of Aba, which led to huge protests on Thursday in the commercial city. Read more

Attacks: Fayose’s Comment Scares Fulani Herdsmen in Ekiti

Following a statement credited to Governor Ayodele Fayose that he had instructed farmers In Ekiti State to poison their water  to ward off invasion by herdsmen, the Fulani cattle-rearers in the state have resolved to take their case to the Council  of Traditional Rulers.

Fayose was quoted to have made the statement in Ibadan on Tuesday while attending a programme organized by the Nigerian Union of Journalists, Oyo chapter. Read more

US selects 100 Nigerians for entrepreneurship programme     

United States Ambassador to Nigeria, Mr James Entwistle, says 100 young Nigerians have been selected for entrepreneurship and leadership training in the 2016 Mandela Washington Fellowship in US.

Entwistle, stated this in Abuja during a reception organised by the U.S. Embassy for the participants who were selected from six geo-political zones in the country and the Federal Capital Territory. Read more

It is a great pleasure to sign delayed budget – Buhari

Nigeria’s President Muhammadu Buhari on Friday signed into law the 2016 federal budget after months of delay caused by mistakes and discrepancies in the original spending plan. Buhari had last December 22 presented a 6.08 trillion naira (around $30-billion, 26.5-billion-euro) budget to parliament but Friday’s document was slightly lower at 6.06 trillion naira. Read more

Boko Haram: Finally, US ‘seeks to sell’ attack aircraft to Nigeria

Finally, the US government is hoping to sell up to 12 Super Tucano attack aircraft to Nigeria to help in the fight against Islamist militants Boko Haram, Reuters news agency reports. An anonymous source within the administration is quoted as saying that the US also wants to provide more help with intelligence, surveillance and reconnaissance. Read more

Boko Haram: Bindow Govt insensitive to Security Issues, Says Gulak

A former Special Adviser to President Goodluck Jonathan on political matters and a Peoples Democratic Party (PDP) chieftain, Barrister Ahmed Gulak, has said that the current government of Senator Umar Jibrilla Bindow in Adamawa state is not serious about security issues.

He was reacting to the security situation in Michika town of Adamawa state where, before the onslaught of Boko Haram insurgents, the weekly market day used to be one day for all but it  has now been divided into two days due to distrust and suspicion among returnees of the town. Read more

Kogi lawmakers ask N’Assembly to halt planned chamber’s take over

15 out of the 20 members of the Kogi State House of Assembly on Friday advised the leadership of the National Assembly to rescind its decision to take over the affairs of the state parliament as a result of the crisis allegedly orchestrated by five of their colleagues.

Aggrieved five out of the 20 lawmakers had reportedly impeached the Speaker, Momoh-Jimoh Lawal on Tuesday, February 16 and named one of them, Mr. Umar Iman, as his successor. Read more

Saraki assures Nigerians of adequate oversight

Senate President,  Bukola Saraki,  on Friday,  commended Nigerians for their patience while awaiting presidential assent to the 2016 Appropriation Act and promised that the National Assembly will ensure its proper implementation through diligent oversight.

Saraki in company with the Speaker, House of Representatives,  Yakubu Dogara and other top government officials had witnessed the signing of the budget into law by President Muhammadu Buhari. Read more

We are Ready For Dialogue, FG tells Militants

The federal government has condemned the attack on Chevron Valve Platform in Warri South-West Local government area of Delta state, saying it is open to dialogue.

A group known as the Niger Delta Avengers (NDA) claimed responsibility for the attack, threatening to cripple the nation’s economy if the government does not respond to its demand. Addressing journalists in Abuja on Friday, Paul Boroh, special adviser to the president on Niger Delta and coordinator of the presidential amnesty programme, said the government was willing to discuss, no matter the grievances of the group. Read more

Additional Marines arrive at U.S. Embassy in Baghdad

Twenty-five additional heavily armed U.S. Marines arrived at the U.S. embassy in Baghdad within the last several hours, a U.S. official tells CNN.

The Marines were requested by the State Department, which is in charge of security. Read more

Egypt to build 10th prison since coup

The Egyptian authorities yesterday approved the construction of a new prison in the Qalyubia Governorate, north of Cairo. This is the tenth prison to be built in less than three years, since the overthrow of the first democratically elected President Mohamed Morsi.

According to an official Egyptian newspaper, the Minister of Interior Magdy Abdel Ghaffar issued resolution 1923 of 2016, which stipulates the construction of a central prison in the Qalyubia Governorate. Read more

Abadi warns protesters against dragging Iraq into chaos

Iraqi Prime Minister Haider Al-Abadi warned against “the use of the popular protests against corruption and mismanagement to drag the country into chaos.”
He added that the political crisis could negatively reflect on efforts to fight Daesh in the country.
In a televised speech yesterday, Al-Abadi said: “We fear that some may take advantage of the peaceful protests to pull the country into chaos, looting, and destruction.” Read more

Bahrain faces rare US pressure over jailed rights activist

Zainab al-Khawaja, the Bahraini political activist, is still languishing in gaol a month after a promise – made under rare international pressure – that she be freed. The Gulf state, a close military and economic partner of western governments, is ignoring a direct appeal by the US to release her. Read more

The UK’s place in the world and EU membership

“The referendum on membership of the EU offers the UK a once-in-a-generation opportunity to assess critically its role in the world today, and to decide what kind of foreign policy actor it seeks to become in future.” That is the message that all members of the House of Commons Foreign Affairs Committee agree on in its latest report on the implications of the referendum on EU membership for the UK’s role in the world. Read more

 

 

 

 

 

 

 

 

 

 

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