Sabinews Morning News Update for March 30, 2016
Military kills 25 terrorists, rescues hostages in Borno
Troops of 155 Task Force Battalion 29 Brigade of the Nigerian Army on Monday killed 25 terrorists, arresting two other suspects during a five-hour operation in three Borno communities.
Camps belonging to Boko Haram terrorists in the villages were also destroyed, with 18 hostages rescued. Read more
‘Suspected Cameroon bomber not from Chibok’
The Chibok Community in Abuja on Tuesday said the suspected female suicide bomber that was arrested in Cameroon was not from their community, based on information made available to them by the Federal Government.
The Chairman of the community, Tsambido Abana, told our correspondent on Tuesday that the suspect had never attended a conventional school, noting that the minor, who does not speak English, was believed to be from Bama area of Borno State. Read more
Kidnapped Army Colonel found dead
Authorities of the Nigeria Army have confirmed that Colonel Samaila Inusa who was kidnapped on Sunday in Kaduna was killed by his abductors.
His decomposing body was found yesterday evening, indicating he died a few days before it was found. Read more
Buhari leaves for Washington DC to attend nuclear security summit
President Muhammadu Buhari will today leave Abuja for Washington DC to join President Barack Obama and other world leaders and heads of international organisations at the fourth nuclear security summit which opens there tomorrow.
While in Washington DC for the summit, the President and his delegation, which includes Governor Mohammed Abdullahi Abubakar of Bauchi State, his Kwara State counterpart, Abdulfatah Ahmed; Minister of Foreign Affairs, Mr. Geoffrey Onyeama; National Security Adviser, Maj.-Gen. Babagana Monguno (rtd) and Director-General of Nigeria’s Nuclear Regulatory Agency (NNRA), Prof. Lawrence Anikwe Dim, would also hold bilateral meetings with other participating Heads of Government and high-ranking United States government officials. Read more
PDP wins 13 seats, APC two in Rivers rerun as INEC
The Independent National Electoral Commission (INEC) has released additional five results of the March 19, 2016 rerun elections.
Three Federal and two State Constituency seats were released by the Resident Electoral Commissioner (REC), Aniedi Ikoiwak, at the Commission’s head office in Port Harcourt last night. Read more
Expect more from me, president promises Nigerians
President Muhammadu Buhari yesterday assured Nigerians that his administration would be taking more pragmatic actions in the next few months to improve the nation’s economy and boost their living conditions.
He spoke at the Eighth Annual Bola Tinubu Colloquium held at the International Conference Centre (ICC), Abuja in honourof the national leader of the All Progressives Congress (APC) Asiwaju Bola Ahmed Tinubu who clocked 64 years yesterday. Read more
NIMET warns of more hot days, warm nights, heat waves
With the global average air temperature of the earth hitting 1°C hotter than at the beginning of the 20th century, the Nigerian Meteorological Agency (NIMET) has warned Nigerians to brace for more hot days, warm night and heat waves.
A statement by the Head of Public Relations Unit, Eva Azinge noted that with the long residence of greenhouse gases in the atmosphere, the current warming would continue beyond 2100 even when the emission of greenhouse gases is reduced. Read more
PDP trustees warn Sheriff against tenure elongation
The Board of Trustees (BoT) of the Peoples Democratic Party (PDP) yesterday in Abuja warned the National Chairman, Senator Modu Sheriff, against what it called dangerous consequences of extending his tenure beyond May 21, 2016.
At a press conference addressed by its chairman, Senator Walid Jubrin, the BoT, which is popularly called the conscience of the party, noted that praise singers had been asking Sheriff to continue in office beyond the date approved by the party’s National Executive Committee (NEC). Read more
NSE, CECP plan to set up cancer centre in Nigeria
The Nigerian Stock Exchange (NSE), in collaboration with the Committee Encouraging Corporate Philanthropy in Nigeria (CECP), has concluded plan to acquire Mobile Cancer Centre (MCC) in the country.
The NSE said it had successfully generated the sum of N36.5 million in its 2015 corporate challenge programme, which would be deployed for the acquisition of the MCC in the fight against cancer. Read more
Obasanjo in Kano, Calls for Markets Regulation in Nigeria
Former President, Chief Olusegun Obasanjo, on Tuesday called for the regulation of markets across the country and the provision of the required fire fighting equipment.
Obasanjo said in Kano that the regulation would help in averting future occurrence of fire disaster, specifically Sabon Gari market, where almost the entire market was ravaged by fire. Read more
Benue Clashes: Cattle Breeders, Farmers Agree to End Hostilities
At last, the prolonged violent crises between cattle breeders and farmers in Agatu land, Benue State, which have claimed several lives and property, may have been laid to rest.
This is because the warring parties have agreed to sheath their swords and embrace peace at a town hall meeting held in Abuja to find a lasting solution to the crisis. Read more
IPOB Issues 72-hour Ultimatum over Detained Farmers
As anger rages over the detention of 76 people from Ugwuneshi in Awgu Local Government Area of Enugu State for defending their property and women against the Fulani herdsmen, the Independent People of Biafra (IPOB) on Tuesday issued a 72-hour ultimatum to President Muhammadu Buhari to intervene and free the detainees.
The pro-Biafra group also demanded the immediate release of two women allegedly abducted by the herdsmen who have not been accounted for since they disappeared on their way to their farms. Read more
Ekiti Govt Cries out over Police Invasion of State to Arrest 11 Lawmakers, Others
Armed policemen from Abuja have invaded Ekiti State to begin indiscriminate arrest of Peoples Democratic Party (PDP) leaders, top government officials and 11 members of the state House of Assembly for alleged stockpiling of arms during the June 21, 2014 governorship election.
The policemen were led by one Mohammed Abubakar, a Chief Superintendent of Police (CSP) fron the Force Criminal Investigation Department (CID), Abuja. Read more
Human Rights Watch Slams FG over Silence on 300 Abducted Damasak Children
Global watchdog, Human Rights Watch, has slammed the federal government over its unacceptable silence on the abduction of 300 children from Damasak, Borno State.
In a press statement made available to THISDAY on Tuesday, the organisation urged the government to “take urgent steps to secure the release of about 400 women and children, including at least 300 elementary school students, abducted by Boko Haram from the town of Damasak in Borno State a year ago”. Read more
Unilever records N59.2 billion turnover
Unilever Nigeria Plc has posted a turnover and profit after tax (PAT) of N59.2 billion and N1.19 billion respectively for the year ended December 31, 2015.
The profit margin represents a sharp dip of 51 per cent over the N2.4 billion recorded the corresponding period of 2014.Though same didn’t go for turnover, as the company achieved a 62 per cent leap compared to the N55.7 billion figure of the previous year. Read more
Increased interest rates: Experts predict mixed fortunes for stock market
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) recently raised the Monetary Policy Rate (MPR), otherwise known as benchmark interest rate, to 12 per cent from 11 per cent.
It also increased bank’s Cash Reserve Ratio (CRR) to 22.5 per cent from 20 per cent, in a move aimed at tightening liquidity, which the central bank blamed for the current pressure in the foreign exchange market and other factors such as fuel scarcity, increased electricity tariff and persistent insecurity. Read more
SON, Benue partner on product certification for export
The Governor of Benue, Dr Sam Ortom has expressed his state government’s readiness to partner with the Standards Organisation of Nigeria (SON) on its quality assessment programme to ensure agriculture produce from the state are certified for export.
The Governor in a statement, said certification of produce would boost their State’s export value and also help in checkmating the rejection of Nigerian export produce in the international market. Read more
NSE’s indices plunge by N215 billion
Equity transactions on the trading floor of the Nigerian Stock Exchange re-opened on a downturn yesterday, after the one-day holiday declared to commemorate the Easter celebration, even as virtually all the blue-chip companies suffered price depreciation, causing market capitalisation to plunge significantly by N215 billion.
Yesterday, 27 companies depreciated in value, led by Nigerian German with 9.64 per cent to close at N4.22 per share. Diamond Bank followed with 9.23 per cent to close at N1.18 per share. Skye bank lost 7.07 per cent to close at N0.92 per share. Read more
Low patronage trails Enugu International Trade Fair
Midway into the 12-day Enugu International Trade Fair, which started on March 25, participants have lamented the poor patronage and purchasing power of visitors, occasioned by the harsh economic times.
At the permanent site of the trade fair complex, at Enugu on Tuesday, the Director-General of the Enugu Chamber of Commerce, Industry, Mines and Agriculture Emeka Okereke, said he was “still hope that three to four days to the end of the fair, trading activities would pick up.” Read more
UNEP Report: Ogoni accuse Buhari of being slow on implementation
Ogonis in South Africa, under the auspices of Ogoni Solidarity Forum, OSF, have described the steps taken so far by the President Muhammadu Buhari administration since August 2015 to implement the UNEP recommended clean-up of Ogoni environment as slow and a contrast to the president’s promise to fast-track the exercise.
A statement signed by the International Coordinator of OSF in South Africa, Pastor Barry Wuganaale, said Ogonis in that country wished the plans to commence the implementation of the UNEP report as recently announced by the Minister of Environment, Hajia Amina Mohammed, would not amount to “a public relations gimmick or political rhetoric devoid of any action as it has been in the past”. Read more
A’Ibom community tackles Mobil over ‘paltry’ development grant
The people of Eastern Obolo Local Government Area in Akwa Ibom State have appealed to ExxonMobil Nigeria to increase its annual development grant to the area from “the paltry sum of N250 million to N1.6 billion” as obtained in other of its host communities.
Chairman, Eastern Obolo Traditional Rulers Council, Chief Job Job, made the appeal while speaking with SweetcrudeReports in Okoroete, the traditional headquarters of the Obolo people. Read more
We’ve been selling forex to airlines – CBN
The Central Bank of Nigeria has described claims by some airlines that they are unable to access foreign exchange to repatriate the proceeds of their operations as untrue.
A number of airlines operating on international routes from the country had claimed that their inability to access forex was hampering their operations and was responsible for the increase in airfares, in some cases by as much as 100 per cent. Read more
Fidelity Bank Partners NEPC, LBS to Build Capacity for Exporters
As part of efforts to promote activities in the non-oil sector and also empower exporters in the country, Fidelity Bank Plc has gone into a partnership with the Nigerian Export Promotion Council (NEPC) and the Lagos Business School (LBS) to establish the Export Leadership Institute.
Speaking at a media briefing in Lagos yesterday, the Managing Director/ Chief Executive Officer, Fidelity Bank, Mr. Nnamdi Okonkwo, said the initiative would also help support the federal government’s drive towards diversifying the economy. Read more
Nigeria’s Business Confidence Index Down to 12-month Low
Nigeria’s inflationary pressures intensified in the month of March, pushing all five parameters of the Sales Managers Index to a 12-month low.
A new set of data released on Monday by the London-based World Economics shows Nigeria’s Business Confidence Index down for the seventh consecutive month, reaching the lowest level in a year. Read more
Shareholders of Five Banks to Share N149bn in Dividends
Shareholders of five banks will receive a sum of N149 billion in dividends for the 2015 financial despite the poor state of capital market in 2015. The Nigerian Stock Exchange (NSE) All-Share Index, which measures the aggregate performance of the stock market declined by over 17 per cent in 2015 due to the economic headwinds. Given the challenging operating environment and stiff regulatory environment, it was expected that investors in the banking sector of the market may not earn much for 2015 financial year. Read more
Oil and Gas
Nigerian firm acquires Mart Resources of U.K. in $89.2m deal
Nigerian-based Midwestern Oil and Gas Company has sealed an agreement to acquire Mart Resources Incorporation of the United Kingdom (U.K.) in what analysts described as a veritable bailout option for the financially distressed British firm.
Midwestern’s acquisition was backed by funding from London-listed San Leon Energy, which would allow it to initially receive a 4.05 per cent indirect economic interest in Oil Mining Lease (OML) 18 offshore Nigeria. Read more
Kachikwu, at Senate, pledges to end fuel queues in April
Minister of State for Petroleum, Ibe Kachikwu, yesterday apologised to Nigerians for the pains being inflicted on them by the persistent fuel scarcity in the country.
He lamented that his statement about not being a magician was exaggerated, adding that it was not meant to downplay the seriousness of the problem at hand. Read more
Stakeholders seek deregulation of downstream sector
Stakeholders in the Nigeria’s downstream sector have called on the Federal Government to urgently deregulate and liberalize the country’s downstream petroleum sector for unfettered private sector participation and investment, which is course subject to an appropriate regulatory framework.
They emphasized the need for a level playing field for all operators, including the Nigeria National Petroleum Corporation (NNPC), which they believed would put an end to the perennial problem of fuel scarcity in the country and the hardships suffered by citizens to fuel scarcity. Read more
NNPC’s fuel import reform scheme reduces U.S. petrol export to Nigeria by 10,000bpd
The United States (U.S.) exports of gasoline to Africa decreased by 28,000 barrels per day (bpd) in 2015, compared with 2014 due to lower exports to Nigeria, one of Africa’s largest fuel importers.
The EIA, which made this disclosure in a statement at the weekend, attributed the shortfall in U.S. petrol export to Africa to fuel import programme reforms, which took place in Nigeria recently. Read more
EU, OPEC worry as low oil prices crash investments
The European Union (EU) and the Organization of the Petroleum Exporting Countries (OPEC) were apparently unconfortable with the current trends of crude oil prices which has significantly crashed major investments in the sector.
Arising from twelfth energy dialogue in Vienna Austria recently, the dou confirmed that there has been a growing challenge in energy markets, particularly for oil since the last energy dialogue meeting in June 2014. Read more
’Dangote Refinery will End Fuel Crisis’
As fuel crisis lingers unabated in Nigeria, Dangote Group, which is currently building the world’s largest refinery, has assured Nigerians that when its refinery commences operation, it will put an end to the recurring fuel crisis in the country.
While speaking to journalists in his office in Abuja yesterday, the Executive Director, Stakeholder Management and Corporate Communications, Mansur Ahmed, said by the time the refinery is ready, Nigeria will be transformed from fuel importing country to an exporting one. Read more
Three killed, Several Others Injured in Agip Pipeline Explosion
A pipeline explosion which took place in Olugboboro, Southern Ijaw Local Government Area of Bayelsa State, has left three persons dead and many others injured.
The three persons, who died immediately at the scene of a huge fire outbreak, were reportedly working for an oil service firm which was fixing a damaged pipeline operated by the Nigerian Agip Oil Company (NAOC). Read more
Electricity generation inches up to 2,905 Mega Watts
The nation’s power situation, yesterday, received a slight uplift as power generation inched up to 2,905 Mega Watts (MW), from about 2,600MW recorded on Monday.
The Guardian investigations showed that the slight rise was recorded increased due to gas supply to some power plants which were hitherto faced supply challenges in recent times. Read more
Operators seek govt’s guarantee for $40b facility to stabilise electricity
Players in Nigeria’s power sector yesterday said $40 billion (about N9 trillion) was required to guarantee a 20,000 mega watt (MW) electricity supply in parts of the country.
According to them, the sum was to boost sectoral investment and strengthen the networks across the three-level value chain of generation, transmission and distribution in the medium term. Read more
Military, MDAs Owe Discos N58bn
The 11 electricity distribution companies (Discos) in the country, Tuesday disclosed that the debts owed them by the federal and states ministries, departments and agencies (MDAs) as wmaell as the various military formations across the country had now risen to N58 billion.
Also indebted to the Discos for electricity supplied to them are some of the 774 local government area secretariats as well as the police and paramilitary barracks in the country. Read more
Again, Eagles fail to qualify for Nations’ Cup
They had all the support, both morale and financial, going for the second leg of the Gabon 2017 African Nations Cup qualifier against Egypt in Aleixandre. They promised Nigerians that they would not allow the Pharaohs stop the country from appearing in the 2017 AFCON. But all the boasts amounted to nothing yesterday, as the Eagles put every foot wrong, conceded a second half goal to give the Egyptians a passage to Gabon. Read more
Messi scores 50th Argentina goal
Lionel Messi scored his 50th international goal to help Argentina beat Bolivia 2-0 in a 2018 World Cup qualifier on Tuesday.
The win put Argentina third in the South American group with 11 points from six matches, two points behind joint leaders Ecuador and Uruguay. Read more
Apple to Tighten iPhone Security after FBI Breach
Apple Inc. said on Tuesday that it would increase security on its iPhones, following the breach by the Federal Bureau of Investigation (FBI) after numerous weeks of back and forth engagements.
A court order by FBI had initially compelled Apple to create a backdoor for accessing the files on the phone of Syed Rizwan Farook, the San Bernardino shooter who killed 14 people in the US in December 2015. Read more
Siblings mauled by baboon recover in hospital
A KwaZulu-Natal game farmer is under fire after a baboon attacked and mauled two children at his farm in Richmond, last week.
The Xaba siblings are currently recovering from serious injuries. Read more
Chinese firm, Kenya sign deal to extend high-speed railway
Kenya and China Communications Construction Company (CCCC) has signed an agreement for the construction of the Standard Gauge Railway (SGR) line from Naivasha in northwest Kenya to Malaba in western Kenya.
A statement from the Kenya Railways Corporation (KRC) received on Tuesday said the Chinese firm will develop Naivasha-Kisumu/Malaba SGR project, Kisumu Port and the Inland Container Depot at a total cost of 5.3 billion US dollars. Read more
Egypt releases South African after 15 months in prison
A Lenasia man jailed in Egypt since 2014 has finally been freed.
Sheikh Abdul Bassiouni’s family say the 65-year-old, who holds dual Egyptian and South African citizenship, was released early on Tuesday morning. Read more
China contractor blamed for failed JKIA terminal
The contractor for the bungled Sh56 billion Greenfield Terminal airport project failed to secure funds leading to its collapse, the Star has established.
Kenya Airports Authority management officially terminated the project yesterday, ending Kenya’s dream of having the largest terminal in Africa. Read more
Trump drops pledge to back Republican presidential nominee other than himself
Republican front-runner Donald Trump on Tuesday abandoned a pledge to support a party presidential nominee other than himself, a sign of increasing friction with chief rival Ted Cruz.
“No, I don’t anymore,” Trump replied, when asked at a CNN town hall event whether he still supported a pledge he made last year to support whoever is the Republican nominee for the Nov. 8 election. Read more
Thai authorities to restrict sexy motor shows
After a particularly steamy performance by a female and male model at the popular Bangkok International Motor Show on Thursday worked up a frenzy on social media, Prime Minister Prayuth Chan-ocha has told the Culture Ministry and police to prevent such an incident from recurring – much to the dismay of motor show enthusiasts. Read more
Quebec plane crash kills seven including politician Jean Lapierre
A small plane crashed off an island in eastern Quebec, killing seven people, including former cabinet minister Jean Lapierre.
His wife, two of his brothers and one of his sisters also died when their plane crashed on Tuesday. They were travelling to the Iles-de-la-Madeleine after the recent death of Mr Lapierre’s father. Read more
Even North Korea’s Buddhists are spoiling for a fight
North Korea’s Buddhists have thrown off their religion’s traditional commitment to peace and harmony to express their commitment to the destruction of what they described as “US imperialists” and the “traitors” of the South Korean government.
“The villains’ unprecedentedly hideous provocations are touching off the bitter resentment and anger of all Buddhists in the DPRK,” the central committee of the Buddhist Federation of Korea said in a statement. Read more
Australian university accused of ‘rewriting history’ over British invasion language
An Australian university has been accused of rewriting history after it encouraged students to use the terms “invaded” and “occupied” for the arrival of British settlers.
The University of New South Wales (UNSW) Indigenous Terminology guide, which states that Australia was “invaded, occupied and colonised”, has drawn an angry reaction in some quarters. Read more