*NCC plans to cut off MTN over N1.4trn fine* *EU: Nigeria’s Economic Policies Violating ECOWAS Laws*

*NCC plans to cut off MTN over N1.4trn fine* *EU: Nigeria’s Economic Policies Violating ECOWAS Laws*

 

Sabinews Morning News Update for October 28, 2015

National News

NCC plans to cut off MTN over N1.4trn fine

The telecommunications umpire, the Nigerian Communications Commission (NCC), may soon stop all regulatory services to MTN Nigeria over the N1.4 trillion (about $5.2bn) fine imposed on the network operator.
Although, the regulator is yet to come out with any statement on the matter, but Daily Sun reliably gathered that, from all indications, MTN may bow to the order or face more technical sanctions. Read more

EU: Nigeria’s Economic Policies Violating ECOWAS Laws

The European Union on Tuesday stated that many of Nigeria’s policies in operation contradict the basic rules of the Economic Community of West African States (ECOWAS) trade operations in the sub-region.

The EU Ambassador and Head of EU delegation to Nigeria and ECOWAS, Michel Arrion, made the statement while announcing the fourth EU-Nigeria Business Forum with the theme: ‘Unlocking Opportunities for Diversification.’  The EU envoy, while explaining Nigeria’s disregard for ECOWAS rules, noted that in January 2015, a new Common External Tariff (CET) was enforced by ECOWAS giving 14 months for member states to comply, but stressed that in Nigeria, it is still business as usual in clear disregard for agreements and conventions of the sub-regional umbrella body. Read more

Woman, 62, Nabbed for N7.83m IVF Fraud

The police in Benin City, Edo State has arrested a 62-year old woman, Celina Etomi, who posed as a medical doctor to defraud four women in search of fruit of the womb of the sum of N7, 831,000 million.

Etomi was alleged to have collected the money from the victims with a promise to make them have twin babies through In Vitro Fertilisation (IVF). Read more

Scarcity: Oil marketers to down tools over N291bn debt

Petrol queues may soon reappear across the country as 70 per cent of the oil marketers have suspended fuel importation over the inability of the Federal Government to settle about N291 billion subsidy arrears.
The development may have been responsible for the pockets of fuel queues that resurfaced in major parts of Lagos two weeks ago. Read more

FG Flags Off N200bn Devt Initiative For North-East

Vice President Yemi Osinbajo yesterday in Maiduguri, Borno State capital, flagged off a humanitarian multi-stakeholder engagement roundtable which is supposed to be a prelude to the multi-billion naira Presidential Development Initiative for the North East (PINE), for the Boko Haram-ravaged region.

The two-day roundtable, with participants from the six states of the North East and international development partners, was put together by the office of the vice president and the National Emergency Management Agency (NEMA). Read more

Fire Guts Former Cway Factory, Other Buildings in Lagos

Kessingsheen Plaza which formerly housed Cway  factory, located opposite the Nigerian National Petroleum Corporation (NNPC) bus stop in Ejigbo, Lagos, was on Tuesday gutted by fire, even as other fire incidents occurred in different parts of the state.

Though the fire service battled the flames till late in the night to contain it from spreading, no casualty was recorded. Read more

N108bn Fraud: Akpabio’s Accuser Alleges Threat to Life

An Abuja-based lawyer, Leo Ekpenyong, who petitioned the Economic and Financial Crimes Commission (EFCC) over the N108.1 billion fraud allegedly committed by a former Governor of Akwa-Ibom State, Godswill Akpabio, on Tuesday complained of receiving death threats.

Ekpenyong who said plans had been concluded by his lawyers to intimate the Inspector General of Police(IG), Mr. Solomon Arase, on the development, explained that he had received several threat messages since he wrote the petition. Read more

Presidency to Hold National Conference on North-east

Despite the fact that the war against the Boko Haram insurgents is far from being over, the presidency on Tuesday met with 19 international  organisations and agencies preparatory to holding a national conference on the North-east in December.

The Chairman, Victim Support Fund (VSF), General Theophilous Danjuma (rtd.), gave the hint in Abuja at a pre-conference meeting with development partners where he said the conference scheduled for December, would adopt a plan to be used by stakeholders in the reconstruction and rehabilitation of the northeast. Read more

Energy sector needs $13.5 trillion investment to tackle emission

Over 150 countries representing 90 per cent of global economic activity and nearly 90 per cent of global energy-related greenhouse gas (GHG) emissions – have submitted pledges to reduce emissions.

The International Energy Agency (IEA) said that the full implementation of these pledges will require the energy sector to invest $13.5 trillion in energy efficiency and low-carbon technologies from 2015 to 2030, an annual average of $840 billion. Read more

Oando Extends Losses to N47.8bn in Nine Months of 2015

Oando Plc has recorded a loss after tax of N47.8 billion for the nine months ended September 30, 2015  compared with a profit  after tax of N5.2 billion in the corresponding period of 2014.

The integrated energy company had last Friday declared a historic loss after tax of N183.9 billion for the year ended December 31,  2014  and loss of N35.1 billion for the six months ended June 30, 2015. Read more

Nigeria Ranks 169 out of 189 in World Bank’s Doing Business Report

Nigeria continues to rank poorly among countries on the ease of doing business ranking, a report by the World Bank has shown.

According to data released by the World Bank in its 2016 annual ease of doing business measurement, Nigeria ranked 169 among 189 countries. Read more

Downstream Operators Insist on Deregulation

Operators in the downstream sector of the oil and gas industry have restated their opposition to the regulation of the sector by the federal government.

This is coming as Integrated Oil and Gas Limited has been granted an approval by the federal government to build a private modular refinery. Read more

Fuel Now N100 per litre as Scarcity Hits Ondo

The scarcity of petrol, which was slightly noticed in Akure, the Ondo State capital and some towns  in the state on Monday got worse yesterday as long queue of vehicles were seen at various filling stations.

While some of the independent marketers claimed that petrol was not available for sale, some that are selling sold the product at the rate of N100 per litre rather than the official pump price of N87. Read more

Benue Workers Sack Assembly over Bailout Payment

Benue State workers yesterday protested the non-payment of their salaries from the bailout fund collected by the state government as they drove away members of the state House of Assembly and their consultant who were out to the 23 local government areas of the state for staff verification exercise.

But the Speaker of the assembly, Mr. Terkimbi Ikyange, described the act as ignorance on the part of the workers, adding that they would soon come back to the assembly and request for the exercise after they must have realised the overwhelming merits of its necessity. Read more

Power Generation Drops to 660mw at Egbin Plant

Power generation has dropped from 813 megawatts to 660 at the Egbin Power Plant in Lagos State, an official said yesterday.

The plant, the nation’s biggest power generating outfit, has the capacity to contribute about 1,000 megawatts to the national grid. Read more

Italian, Indian oil giants, others bid for Nigeria’s crude

The new wave of openness and transparency pervading the operations of the Nigerian National Petroleum Corporation, NNPC, received fresh impetus yesterday with the public harvesting of 278 bids submitted by indigenous and foreign firms seeking to secure contract for the sale and purchase of the 26 Nigerian crude oil grades on offer.

The process, which was covered live by all major television networks in the country had in attendance representatives of the bidding companies with officials of the Bureau of Public Procurement, BPP; Department of Petroleum Resources, DPR; Nigerian Extractive Industry Transparency Initiative, NEITI; Nigerian Content Development and Monitoring Board, NDCMB as well as members of the civil society attending as independent assessors. Read more

Refineries can’t access crude oil, says Kachikwu

The refineries are not performing optimally because they are unable to access crude oil for refining, Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Emmanuel Kachikwu, said yesterday.

He said the four refineries are battling with obsolete equipment and are unable to take crude oil for refining into finished products. Read more

US Condemns Boko Haram Attacks

The United States government has condemned in strong terms the attacks by members of Boko Haram at the Jambutu Mosque in Yola, Adamawa state and the central mosque of polo ward in Maiduguri describing the attacks as horrific and indiscriminate.

In a statement made available to LEADERSHIP and signed by the US embassy spokesman in Abuja Mr Sean Mctosh it said that the apparent use of children, particularly young girls to commit these attacks is especially heinous, and provides yet more examples of the horrific measures the terrorist group is using to terrorize civilians in the North-east, Nigeria and the Lake Chad Basin region. Read more

Chile 2015: Eaglets ready for Aussies –Amuneke

The battle for places in the quarter finals of the FIFA World Cup for U-17 boys begins today with Nigeria’s Golden Eaglets seeking to pick one of the tickets as they confront hard fighting Australia in a match that must produce a winner.
The match which is billed for the early hours of Thursday morning going by past records, is expected to be an easy ride for Nigeria but Coach Emmanuel Amuneke cannot afford such luxury as his boys must be ready to assert themselves in the game and come out victorious. The Golden Eaglets have won all five of the two teams’ previous meetings at FIFA U-17 World Cups, scoring 12 goals along the way while conceding just two. Nigeria defeated the Joeys 2-1 when the two sides last faced each other in 2003. Read more

Iwobi Celebrates Arsenal Debut Despite League Cup Defeat

Arsenal’s Nigerian teen star Alex Iwobi is delighted to have made his competitive senior debut for the Gunners in Tuesday night’s 3-0 loss to Sheffield Wednesday.

Iwobi who was an unused substitute for Arsenal in the fourth round of the Capital One Cup played all 90 minutes of the encounter as Arsene Wenger’s men crashed out of the competition. Read more

World News

Kenyans in S Sudan face hurdle in sending money back home

The government is unable to help Kenyans working or doing business in South Sudan send money back home, Treasury Cabinet Secretary Henry Rotich said yesterday.

Juba is struggling to rescue its economy after its foreign exchange reserves ran out following the drop in global oil prices and the civil war that has affected oil production. Read more

Tullow sees first Ugandan oil flowing as early as 2020

Tullow Oil, which expects to get a Ugandan production license this year, hopes to make a final investment decision on the project in 2017 with the first oil flowing from the East African country in 2020, its chief executive said on Tuesday.

“You need a pipeline route firmed down and then you need to get FID (final investment decision). So FID probably in early 2017 and three years later, first oil,” Tullow chief executive Aidan Heavey told Reuters on the sidelines of the Africa Oil Week conference organized by Global Pacific & Partners. Read more

Chinese e-commerce firm enters Kenya

A Chinese e-commerce firm has opened a Kenyan website for traders to buy goods directly from China. Chinabuy yesterday said it will will operate locally as Chinabuy.co.ke and has established a 24/7 localised online customer support which is available in English and Kiswahili.

“Our online platform works to give our customers 24/7 easy access to a vast array of products at very competitive prices. Read more

Gunshots, teargas as NRM votes

Chaos, confusion and drama reigned supreme yesterday during the NRM primaries, leading to cancellation of elections in some areas despite earlier assurances that the ruling party was well prepared to conduct the elections.

In many parts of the country, punches were exchanged, tear-gas was fired and election officials took to their heels, as supporters of rival candidates faced off. Read more

Global warming to increase heat, decrease productivity in SE Asia – report

Rising temperatures and humidity due to climate change are likely to increase the number of days with unsafe “heat stress,” putting Southeast Asia at great risk of significant drops in productivity, a research firm said on Wednesday.

Southeast Asia over the next three decades could lose 16 percent of its labour capacity due to rising heat stress, which could cause absenteeism due to dizziness, fatigue, nausea and even death in extreme cases, the British firm Verisk Maplecroft said. Read more

U.S. weighs special forces in Syria, helicopters in Iraq

The United States is considering sending a small number of special operations forces to Syria and attack helicopters to Iraq as it weighs options to build momentum in the battle against Islamic State, U.S. officials said on Tuesday.

President Barack Obama, deeply averse to over-committing American troops to unpopular wars in the Middle East, could view some of the options as more viable than others as he approaches the final stretch of his presidency. Read more

Notorious jewel thief Doris Payne, 85, charged in earring heist

An 85-year-old international jewellery thief was back behind bars on Tuesday, charged with stealing a pair of $690 earrings from an Atlanta store in the latest caper of her decades-long career as a jet-setting burglar with sparkling taste.

Doris Payne was caught pocketing a pair of Christian Dior earrings from a Saks Fifth Avenue store in Atlanta on Friday, according to an Atlanta police report. Read more

Angry China shadows U.S. warship near man-made islands

China rebuked Washington for sending a U.S. guided-missile destroyer close to one of Beijing’s man-made islands in the disputed South China Sea, saying it had tracked and warned the ship and called in the U.S. ambassador to protest.

The USS Lassen’s patrol on Tuesday was the most significant U.S. challenge yet to the 12-nautical-mile territorial limits China claims around artificial islands it has built in the Spratly archipelago. Read more

Philippines sees bigger role for gas, renewables in new energy plan

The Philippine government is working on a new energy plan it hopes the next administration will adopt to curb the expanding share of coal in its fuel mix for power generation, an official said.

The plan could see the Philippines generating a third of its electricity each from natural gas, coal and renewables between 2016 and 2040, Loreta G. Ayson, undersecretary at the Department of Energy said late on Tuesday. Read more

Indonesia failed to predict severity of El Nino weather – security chief

Indonesia’s state weather agency (BMKG) failed to predict that the effects of the El Nino weather phenomenon this year would be worse than in 1997, the country’s security chief said on Wednesday/

“I must admit there was a mistake in the BMKG forecast that didn’t predict El Nino this year would be worse than 1997. Our forecast was wrong,” said security chief Luhut Panjaitan, who has been tasked by President Joko Widodo to handle the government’s response to the disasterous situation. Read more

Amid Chinese tensions with U.S., French frigate visits China

A French frigate has docked at a port in southern China on a four-day visit to China’s South China Sea fleet, China’s military said on Wednesday, amid tensions between China and United States over the disputed waters.

The Vendémiaire docked at Zhanjiang in the southern province of Guangdong on Tuesday morning for a four day “friendly visit”, the official People’s Liberation Army Daily said. Read more

 

 

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