Sabinews Morning News Update for November 9, 2015
President to swear in ministers on Wednesday
President Muhammadu Buhari will inaugurate a new Federal Executive Council (FEC) on Wednesday.
Special Adviser on Media and Publicity, Mr. Femi Adesina, said that the ministers-designate will take their oaths of office in the Council Chambers of the Presidential Villa before the commencement of the inaugural session of the council. Read more
Terrorist On Wanted List Arrested At Abuja Airport
Aviation officials at the Nnamdi Azikiwe International Airport, Abuja, yesterday arrested a suspected Boko Haram member who was listed among the 100 wanted terrorist kingpins recently published by the Nigerian Army.
The director, Army Public Relations, Colonel Sani Kukasheka Usman, confirmed this in a press statement circulated electronically to newsmen yesterday. Read more
Why I rejected bailout –Udom
Akwa Ibom State Governor, Udom Emmanuel, has explained why he did not accept bailout fund offered states by the Federal Government. President Muhammadu Buhari had approved bailout for states who are owing salaries.
Speaking at the weekend, in a town hall meeting with journalists and other stakeholders in Uyo, the governor said he rejected bailout because he did not want to mortgage the future of Akwa Ibom people. Read more
Balogun of Ibadan dies at 91
The Balogun of Ibadanland, Chief Sulaimon Adegboyega Alao Omiyale, is dead. He was 91.
Omiyale, the next ranked chief to the Olubadan of Ibadan, died on Saturday evening at the University College Hospital (UCH), Ibadan. Read more
NBA wades into face-off between JUSUN and Anambra govt
The Nigerian Bar Association, NBA, has waded into the face-off between the Judiciary Staff Union of Nigeria, JUSUN, and the Anambra State government over non-implementation of the Consolidated Judiciary Salary Structure, CONJUSS, which has led to indefinite strike by the workers.
The chairman of Idemili branch of NBA, Mr. Benjamin Okoko, in a statement in Awka, also dissociated NBA from a statement credited to the provost of Idemili branch of NBA, Mr. Pat Okolo on the strike issue, saying that the said statement did not get the approval of NBA. Read more
Harsh economic environment crashes corporate earnings
Negative economic fundamentals overshadowing Nigeria’s business environment may have begun to take its toll on corporate financial results as third quarter earnings plunged in three key sectors, namely, oil and gas, banking and conglomerates.
Poor results announced by industry leaders in these sectors also worsened the performance of Nigerian Stock Exchange All Share Index last weekend. Read more
CBN moves to halt ‘shylock’ lending
The Central Bank of Nigeria CBN will soon introduce a set of measures that will protect bank customers from unethical interest rates, illegal charges and other manipulations by bank officials. The rules which are in draft form are aimed at protecting bank customers from excessive exploitation by banks. The draft rules are currently being discussed by stakeholders. According to the soon-to-be-introduced rules, the “CBN shall ensure that operators (banks), establish structures to prohibit predatory lending and hence support a positive credit culture in the industry. Read more
Gloomy projections trail Q4 economic performance
Expectations of improved economic fortunes in the fourth quarter (Q4) of the year (2015) may not be feasible afterall, given gloomy indicators, which put the overall performance of the economy low.
Specifically, 2015 economic performance, which has been characterised by a cocktail of macroeconomic challenges, has been riding on the back of sliding crude oil prices; political and policy uncertainties. Read more
Oil and Gas
Nigeria loses $9.1b yearly to oil thieves, others
The Society of Petroleum Engineers (SPE) Nigeria Council has said the crude oil stolen by thieves between January 2013 and April this year stood at 39.3 million barrels while an average of 250,000 barrels of oil per day (bopd) is either deferred or partly stolen through activities of pipeline vandals and thieves representing an average loss of $9.1billion per year at $100 per barrel oil price.
According to the engineers, pipeline vandalism and oil theft have led to a decline in oil production from 2.45 million (bpd) to 2.05 million bpd in the last four years (2010 – 2014). Read more
Port-Harcourt refinery shuts down
Port-Harcourt refinery in Rivers State which produces about 210,000 barrels of crude per day(bpd) has shut down, thus compounding the current fuel scarcity nation-wide.
Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu,disclosed this at the luncheon of the Petroleum Club in Lagos on Saturday. Read more
NEITI recovers $2.4 billion from oil firms in five years
The Nigeria Extractive Industries Transparency Initiative (NEITI) recovered over $2.4 billion from covered entities and another $7 billion as recoverable revenue into government covers within the last five years.
This was disclosed by the out-going Executive Secretary of NEITI, Zainad Ahmed, in Abuja while handing over the mantle of leadership to Dr. Orji Ogbonaya Orji, who will act pending the appointment of a substantive Executive Secretary. Read more
Conoco Phillips: Oando debt profile down to $500m
With about $1.5 billion acquisition of ConocoPhillips, Oando Energy Resource(OER),the upstream subsidiary of Oando Plc, has announced that its debt position now stands at $500 million.
The company explained that the repayment of its $100 million African Export-Import Bank (Afrexim) loan, which was utilized in financing the landmark acquisition of the ConocoPhillips(CoP) Nigerian oil and gas business in July 2014,brings down its debt profile to 44 per cent. Read more
Eaglets are Champions, win FIFA U-17 World cup again
For the fifth time the Nigerian Golden Eaglets became only the second side to retain the FIFA U-17 World Cup with a 2-0 win against Mali in Vina Del Mar. Nigeria won in 1985, 1993, 2007, 2013, and now in 2015 in Chile.
The Nigerian team won the maiden edition of FIFA U-17 World Cup in 1985 in China, the fifth edition of the tournament in 1993 in Japan, the twelfth edition of the tournament in 2007 in South Korea,the fifteenth held in the United Arab Emirates 2013 and again the sixteenth in Chile 2015. Read more
Egyptian Airport Workers Under Scrutiny
Egyptian authorities have intensely questioned airport workers in Sharm El Sheikh in what employees said was a quest to determine whether insiders facilitated the crash of a Russian plane, as the U.S. echoed the U.K. in asserting that terrorism was the most likely cause.
Officials agree there is no physical evidence yet, such as bomb fragments, that could determine conclusively what brought down the plane in Egypt’sSinai Peninsula and killed all 224 people on board on Oct. 31. Certain patterns of metal rupture or types of injuries suffered by passengers would typically point to a bomb or other hostile act. Read more
Kenyan officials estimate 1.4 million will attend papal Mass
An estimated 1.4 million people are expected to attend a Mass celebrated by Pope Francis when he visits Kenya on his first trip to Africa, Catholic church officials and Kenyan authorities said Sunday.
The pope’s visit to Kenya on Nov. 25 to 27 — the first stop in his three-state visit of Africa — will see the pontiff talk about strengthening families, inter-ethnic tolerance and inclusiveness, presidential spokesman Manoah Esipisu said. Read more
Burundi security forces forcibly disarm those with illegal weapons
Security forces in Burundi are conducting door-to-door searches to confiscate illegal firearms in an effort to end a spate of violence in the country.
There has been widespread unrest in the landlocked African country since April when President Pierre Nkurunziza announced he would stand for a third term in office. With several killings reported, thousands have fled the country amid the crisis. Read more
At least three killed in double suicide bombing in Chad
At least three people were killed Sunday when two suicide bombers detonated in a village near the border with Nigeria in western Chad.
Xinhua news agency, quoting Hassan Sylla Bakari, Chad’s comminications minister and government spokesman, reported the attacks occurred in Ngouboua, a remote village near Lake Chad where in February Nigerian terrorist group Boko Haram launched its first documented attack inside Chad’s borders. Read more
Uganda: Ensure Free and Fair Elections
The Ugandan government should ensure a level playing field, free from abuse for all voters and candidates during the 2016 presidential election campaigns. Police brutality and obstruction of the media have characterized past campaign periods in Uganda. These abuses, plus the lack of accountability for election-related abuses, have undermined the voters’ right to a free and fair election in previous years. Read more
Brazil dam burst: BHP boss to inspect disaster zone with dozens still missing
The boss of BHP Billiton will arrive in Brazil on Monday to see at first-hand the devastation wrought by the collapse of a dam at an iron ore mine co-owned by the company that has left at least two dead and dozens missing.
Three days after the rupturing of two dams unleashed a massive flood of mud on nearby villages, authorities were still struggling to determine the cause of the disaster or even recover the bodies of as many as 28 people lost in the torrent. Read more
China’s Xi to attend Asia-Pacific forum in Manila this month
Chinese President Xi Jinping will attend a forum of leaders from the Asia-Pacific Economic Cooperation (APEC) this month, the Foreign Ministry said on Monday, amid rising tensions in the region over territorial disputes.
The APEC meeting will take place in Manila from Nov. 17 to 19. APEC’s members include the United States, China, Japan, South Korea, Indonesia and Canada, and together account for 57 percent of global production and 46.5 percent of world trade. Read more
Catalonia MPs to vote on secession plan in showdown with Spain’s government
Catalonia’s pro-independence regional parliament is expected to launch a secession process in Spain’s wealthiest region on Monday, in a showdown with the central government in Madrid.
Catalan pro-independence parties – which won a majority in the regional assembly for the first time in September elections – will vote on a resolution calling on the assembly to start working on legislation within 30 days to create a separate social security system and treasury, with a view to securing complete independence as early as 2017. Read more
Senior Chinese officer in Djibouti following base talk
A senior Chinese military officer is visiting the Horn of Africa country Djibouti where he inspected a Chinese warship participating in anti-piracy patrols, China’s Defence Ministry said, following a report China wants a military base there.
In May, Djibouti President Ismail Omar Guelleh told French media his government was in talks with China about a base, adding Beijing’s presence would be welcome in the former French colony, which borders Somalia, Eritrea and Ethiopia. Read more
Detention of Egyptian Journalist Prompts Outrage Online
The arrest of Hossam Bahgat, one of Egypt’s leading investigative journalists, by Egyptian military intelligence on Sunday prompted an outpouring of concern, solidarity and outrage on social networks.
Mr. Bahgat was forced to “spend the night in military detention because prosecutors are yet to decide whether to issue a detention order or to release him,” according to Heba Morayef, the associate director of the Egyptian Initiative for Personal Rights, a prominent human rights group that Mr. Bahgat founded before turning his attention to journalism after the country’s 2011 revolution. Read more