FG CANCELS MILITARY TRAINING WITH US AS OIL PRICE RISES AFTER HITTING 5-YEAR LOW

FG CANCELS MILITARY TRAINING WITH US AS OIL PRICE RISES AFTER HITTING 5-YEAR LOW

Sabinews Daily Morning News Update for December 2, 2014MORNING NEWS

 

National News

 

FG Cancels Military Training With US

The United States government has announced the cancellation of a military training exercise which was to be held for a Nigerian Army battalion.

The US further claimed that the cancellation was at the instance of the federal government, a decision it described as regrettable. Read more

2015: APC clears 12 aspirants for Fashola’s job

Twelve aspirants have been cleared to contest the All Progressives Congress (APC) governorship primaries in Lagos State.

However, the state Commissioner for Works and Infrastructure, Dr. Obafemi Hamzat abruptly cancelled the formal declaration of his governorship aspiration slated to hold today at The Haven, Ikeja. Read more

Intel Corporation trains 80 Nigerian undergraduates in ICT

As part of the efforts to boost the growth of Information and Communication Technology (ICT) in the Nigerian economy, Intel Corporation, an international ICT organisation, has offered training for over 80 undergraduates with the use of Intel Galileo Board.

The 80 participants were drawn from eight universities in the country which included: Ahmadu Bello University (ABU) Zaria, Kaduna State; Afe Babalola University, Ado Ekiti, Ekiti State; Covenant University, Ota, Ogun State and Ekiti State University (EKSU), Ado-Ekiti, Ekiti State. Read more

FG to slash 2015 budget benchmark

The Federal Government is considering a further reduction in the budget benchmark price of oil from the current $73 per barrel to a much lower price.

The move followed the sharp decline in the price of crude oil in the international market, which saw prices crashing to a five year low of $70 per barrel on Monday. Read more

Ebola: FG sends 504 health workers to Liberia, others

About 250 health workers, out of the 504 volunteers trained by the Federal Government in collaboration with the African Union Commission, will be leaving for Ebola-stricken countries on Thursday.

The Director, Nigerian Centre for Diseases and Control, Abuja, Prof. Abdulsalamin Nasidi, who spoke at the opening ceremony of the two-day departure training for the first batch of the volunteers in Lagos on Monday, said that the Federal Government would dispatch the second batch of 254 health workers in January. Read more

Court refers Jonathan’s eligibility case to Appeal Court

Hearing into one of the suits challenging the eligibility of President Goodluck Jonathan to contest the 2015 presidential election before a federal high court in Abuja was stalled, following plaintiffs’ application that the central questions in the matter be referred to the Court of Appeal for determination.

Counsel for Olatoye Wahab and the other plaintiffs in the suit, Mr Abiodun Owonikoko, told the court that the president and the Attorney General of the Federation were served with the application for referral last Friday and that they still had time to respond and sought for an adjournment on the matter. Read more

FG Not Behind Kano Mosque Attack – Sambo

Following insinuations that the federal government was behind Kano mosque attack, President, Goodluck Jonathan has exonerated his government from the dangerous rumour, saying “what happened in Kano is beyond politics and our government is committed to protecting the life and property of innocent Nigerians.

President Jonathan, represented by Vice President Namadi Sambo, who led the federal government delegation, stated this while on a condolence visit to Kano emir, Muhammad Sanusi II, at his palace yesterday. Read more

INEC Expresses Concern Over 740,000 Internally Displaced Persons

The Independent National Electoral Commission (INEC) has lamented the spate of Internally Displaced Persons from the North Eastern States of Adamawa, Yobe and Borno, which is put at 740,000.

Director General of the Electoral Institute, Professor Abubakar Momoh who quoted the National Emergency Management Agency (NEMA) on the figures however assured that the electoral commission will ensure they participate in the 2015 election. Read more

Man jailed three years for stealing

An Evboriaria Magistrate Court sitting in Ikpoba-Okha local government of Edo State on Monday sentenced one John Osarumwense to three years imprisonment for stealing over 15 gallons of diesel worth N67, 750.

Osarumwense who pleaded guilty to the two count charges preferred against him was however given an option of N200, 000 fine. Read more

Elumelu Launches $100m Entrepreneurship Programme

The Tony Elumelu Foundation has announced the launch of a $100 million Pan-African entrepreneurship initiative – The Tony Elumelu Foundation Entrepreneurship Programme – a multi-year programme of training, funding, and mentoring, designed to empower the next generation of African entrepreneurs.

The programme is the first initiative of its kind to be launched by an African philanthropic organisation and is the largest African sourced philanthropic gift, targeting the entrepreneurial space. Read more

Coca-Cola, NBC Challenge Charges as Judge Insists on Presence of Accused Persons

Coca-Cola Nigeria Limited, its Managing Director, Mr. Adeola Adetunji, Nigerian Bottling Company (NBC) Plc and its Managing Director, Mr. Ben Langat, have challenged the mandate given to Chief Bayo Ojo (SAN) to prosecute them for alleged violation of the Consumers Protection Council (CPC) Act.

They are also challenging the competence of the charge and the jurisdiction of the court to entertain the charge. Read more

 

Economy

 

FG, Brazil to Establish 3 Automobile Training Centres In Nigeria

In its determined efforts to project the Automotive Policy, the federal government through the Industrial Training Fund (ITF) has indicated interest to collaborate with the SENAI of Brazil in establishing 3 Automotive Parts Training Centres in Nigeria.

The Centres to be established soon would be saddled with the mandate of producing parts for onward supply to more than 22 companies that have already commenced production or had indicated interest to invest in the Nigerian Automobile sector and also train Nigerians in production of Automobile spare parts. This was disclosed by the director – general of ITF, Dr Juliet Chukkas-Onaeko at a one – day Interactive Stakeholders Forum organised by the Abuja Area Office of ITF in Abuja, yesterday. Read more

Naira slides to N184 against dollar

Barely one week after the Central Bank of Nigeria devalued the naira by 8.4 per cent in a bid to reduce the pressure on the falling national currency, the naira on Monday again fell by 3.4 per cent to a new low of N184.10 against the dollar, down from the N178 it fell to on Friday.

The CBN’s Monetary Policy Committee had, on Tuesday, devalued the naira from N155 to N168 per dollar, following several weeks of continued fall that brought the naira to N177 per dollar last Monday. Read more

Enamelware ends 2014 with 16.46% increase in net income

Enamelware Nigeria plc has impressively ended 2014 financial year with a 16.46 percent rise in net income as the company continues to tap into the country’s growing economy, analysis of its financial shows.

The 2014 audited financial statement of thea company showed profit after tax (PAT) increased by 16.46 percent to N86.15 million from N73.97 million the same period of the corresponding year (ended April) 2013, while sales were up 2.39 percent to N2.57 billion. Read more

CBN licenses 7 banks as MMOs

As part of efforts to deepen the financial inclusion in Nigeria for which over 70 per cent of the population is said to be excluded, Central Bank of Nigeria (CBN) has licensed seven banks as Mobile Money Operators (MMOs).

Speaking at the Finance Correspondents Association and Business Editors seminar in Katsina, yesterday,  Head, Payments System Policy and Oversight Division, Banking and Payments System Department of CBN, Mr. Musa Ilopa Jimoh, said that though over 15 million Nigerians have subscribed to operate MMOs, telecommunications companies (telcos) have been excluded from being subscribers. Read more

 

Oil and Gas

 

Oil Price Rises After Hitting 5-year Low

Brent crude oil rose yesterday to above $71 a barrel, recovering from a five-year low it hit earlier as investors looked for a price floor after last week’s OPEC decision not to cut production, reported Reuters.

According to Reuters, Brent hit a low of $67.53 a barrel, the lowest since October 2009, before rising 85 cents to $71.00 a barrel by 1154 GMT yesterday. U.S. crude was up $1.01 at $67.16 a barrel, having slipped to an intra-day low of $63.72, the lowest since July 2009. Read more

‘Nigeria was losing 2.4m barrels monthly’

The Flag Officer Commanding (FOC) of the Eastern Naval Command, Rear Admiral Obiora Charles Mediani, has said Nigeria was losing 2.4 million barrels of crude oil monthly from theft until the Navy stepped in.

He said the theft had reduced to 800,000 barrels per month with the Navy’s intensified surveillance. Read more

 

World News

 

At least 36 shot dead in suspected al-Shabaab attack in Kenya

Gunmen killed 36 workers in an attack on a quarry in Kenya’s Mandera county, which borders Somalia, Kenyan media reported.

Citizen Television said the 36 workers were killed when suspected al-Shabaab militants from Somalia attacked the quarry. Read more

U.N. climate change talks heat up in Lima

With 2014 on track to become the warmest year on record and time running short, more than 190 nations began talks on a new worldwide deal to limit greenhouse gas emissions and keep global warming from causing irreversible damage.

New targets for fossil fuel use were announced ahead of the climate conference by the U.S., the European Union and China, the first Asian nation to make such a pledge. This has injected optimism into negotiations that are supposed to climax in Paris next year with the adoption of a long-awaited climate pact. Read more

Indonesian Tries Canadian Teacher for Child Abuse

A Canadian teacher and an Indonesia teaching assistant have gone on trial accused of sexually abusing a kindergartner on the campus of a prestigious international school.

Neil Bantleman and Ferdinant Tjiong appeared before a judge Tuesday in separate closed door sessions to hear charges against them. Read more

Coca-Cola under fire for ‘sexist’ new ad campaign

The advertising campaign for Coca-Cola’s new high-end milk has been heavily criticized for apparent ‘sexism’.

Featuring pictures of naked women dripping in barely-there dresses made of milk, Fairlife is being launched to much fanfare this month in the United States. Read more

 

Power

 

Meter deadline for DISCOs

The Nigerian Electricity Regulatory Commission (NERC) recently directed   electricity distribution companies (DISCOs) nation-wide to deliver pre-paid   metres to customers who have paid for them within 45 days.  Under the Credited Advance Payment for Metering Implementation (CAPMI) scheme, electricity consumers who voluntarily pay for their metres get rebate on their energy purchases in return. Read more

 

Sports

 

NFF Delegation Set for Canada 2015

The delegation of Nigeria Football Federation to Saturday’s 7th FIFA Women’s World Cup finals, Canada 2015, will depart from Abuja on Thursday morning.

Coach Edwin Okon, who led the Senior Women National Team, Super Falcons, to clinch a seventh African title in Namibia in October, will be joined by Team Administrator, Ruth David and Team Media Officer, Gracious Akujobi. Read more

BBC African Footballer of the Year: Algerian star floors Enyeama

Super Eagles first choice goalkeeper Vincent Enyeama last night failed to emerge as the second Nigerian after Austin Jay Jay Okocha (2003 & 2004) to win the prestigious BBC African Footballer of the Year award as Algerian midfielder Yacine Brahimi was voted tops ahead of him.

Brahimi, 24 becomes the first Algerian to win the award, which is decided by football fans. Read more

Uche is Africa’s Top Liga Marksman

Nigeria international striker, Ikechukwu Uche scored his fourth league goal of the season for Villarreal as the Yellow Submarine put bottom club Córdoba to the sword at Estadio Nuevo Arcángel on Sunday.

Uche’s finish on 70 minutes bordered between the fortuitous and the sublime. Read more

 

Follow us @sabinewsnaija

 

We think you'd love these too...

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *