Sabinews Morning News Update for May 11, 2015
There Isn’t Enough Petrol to Lift –NUPENG
Despite last week’s claims by the Nigerian National Petroleum Corporation (NNPC) that it has 1.2 billion litres of petrol in stock, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), on Sunday evening there are no products for its members to load from the various depots.
The union therefore called on Nigerians to direct their questions on the lingering fuel queues in the country to the Federal Government agency, such as the NNPC and the Major marketers in the country, rather than NUPENG whose major work is to lift and supply petroleum products to end users. Read more
Boko Haram survivors face hunger
Since Nigeria’s army began clearing large areas of the country’s northeast from Boko Haram, some of the 1.5 million internally displaced people have started returning home. But thousands could now face severe food shortages as reconstruction lags behind.
Along the main roads heading north from Adamawa’s state capital Yola, some trade has resumed in the towns but ghostly pockets and haunting reminders of the insurgent takeover are evident. Some three months after the fighting ended, the smell of rotting corpses still clings to the air by the headquarters of the Church of the Brethren near Mararaba. Read more
12 perm secs resign in Katsina
Twelve permanent secretaries working in various ministries in Katsina State may have tendered their resignation letters to the state government.
A government source, who spoke on the issue yesterday, identified two possible reasons for the number of resignations. Read more
Elections: PDP Inaugurates Probe Committee
The Chairman of the Peoples Democratic Party (PDP) in Enugu State, Chief Ikeje Asogwa, has inaugurated a five-man committee headed by the secretary of the party in the state, Steve Oruruo and Emeka Igwesi as secretary respectively, with a view to reposition the party after the recent general election.
Other members of the committee include Dr. Chris Iyiani, Mrs. Oby Nwafor and Mr. Armstrong Agbo respectively. Read more
Cross River APC Leaders Tackle Ndoma-Egba
A forum of concerned elders of the All Progressives Congress (APC) in Cross Rivers State has faulted the recent visit by the Senate Leader, Chief Victor Ndoma-Egba to the president-elect, General Muhammadu Buhari.
The forum described the Senate Leader and those that were on delegation as “political gold-diggers.” Read more
Elumelu to Address Industrialists in White House
Former Managing Director of United Bank for Africa (UBA), Mr. Tony Elumelu, has been nominated to address a select group of global industrialists at the White House in Washington D.C., the United States to celebrate emerging entrepreneurs around the globe.
The event, a statement issued by Tony Elemelu Foundation in Lagos yesterday and obtained by an online news medium, Freedom Online, said, Elumelu would be hosted by US President, Barack Obama, today. Read more
Lafarge WAPCO to resettle 1000 villagers in Ogun
Cement Giant Lafarge WAPCO has agreed to relocate no fewer than 1000 villagers from two communities- Oke – Oko and Sekoni- in Ewekoro Local Government Area of Ogun State.
Also to be relocated are a number of deities – community and household gods-worshipped by the villagers. Read more
‘One in 2 young women anaemic’
Nigeria faces one of the largest burdens of micro- nutrient deficiencies with anaemia the most common in women and children, says President of Nutrition Society of Nigeria, NSN, Prof Ngozi Nnam.
Nnam at a press conference in Lagos organised by Unilever Nigeria in partnership with NSN on the impact of iron deficiency anaemia in Nigeria, explained that the major cause of anaemia, approximately 50 per cent of the cases, were due to iron deficiency. Read more
Aba: Motorists accuse FRSC of extortion
Motorists plying Enugu- Port Harcourt Expressway have accused personnel of the Ab Unit of the Federal Road Safety Corps, FRSC, of extortion. They insisted that if the activities of the Corps personnel were not checked, their action would tarnish the image of the agency. Read more
AUN set to enter Guinness World Record
American University of Nigeria’s Office of Sustainability is set to place the institution in the Guinness Book of World Records (GWR) via its unique waste-to-wealth management programme. On Friday, April 24, an unprecedented 485 people ended 20 minutes of simultaneous crocheting, using plastic yarn made from waste polythene.
The Most People Crocheting Simultaneously record, was achieved five years ago in New York City at a Stitch ‘N’ Pitch event organised by the National Needlearts Association, at the Citi Field stadium, New York during which 426 people crocheted for 15 minutes using yarn. The unique thing about this event is the ecological twist where the crocheters’ use plarn, the yarn made from used polythene bags. Read more
Appeal Court Upturns Order Winding-up Afribank
The Appeal Court in Lagos has set aside the judgment of a Federal High Court in Lagos winding-up Afribank Nigeria Plc.
Afribank was nationalised pursuant to the banking reforms carried out by the Central Bank of Nigeria (CBN) under Sanusi Lamido Sanusi, who is now the Emir of Kano. Read more
Why we blew up oil facilities —Urhobo group
Niger Delta militant group, Urhobo Gbagbako, whose recent onslaught has led to destruction of several oil facilities, has stated that it was forced to take the action because of deliberate marginalisation of the Urhobo nation by President Goodluck Jonathan’s government.
It stated that the Federal Government took for granted Urhobo hospitality and peaceful disposition by awarding pipelines surveillance contract in Urhoboland to non-Urhobo people. Read more
CBN May Loosen Forex Trading Restriction Rules
The Central Bank of Nigeria (CBN) has started talks with banks and currency dealers on how to loosen foreign-exchange trading restrictions while still maintaining stability in the naira, people familiar with the discussions said.
The Financial Markets Dealers Association (FMDA), a Lagos-based industry body, met this week to put a proposal together that may be presented to the regulator this week, two of the people, who asked not to be identified because the talks are private, disclosed this to Bloomberg. Read more
Adesina’s Policies’ll Preserve 60% of Nigeria’s Food Produce
The Coordinator of the Nigeria Agri-Business Group and Out-going Chairman of the Nigerian Economic Summit Group (NESG) Emmanuel Itoya Ijewere has said the legacy of the Minister of Agriculture and Rural Development, Dr Akinwumi Adesina will save Nigeria over 60 per cent in food shortages.
He said “this is because Adesina has addressed the issues of food processing and storage,thereby ensuring farmers do not lose their produce after harvest or in the course of transportation as before.” Read more
Fidelity Bank to deepen bond market with N30b fresh capital
Fidelity Bank Plc has completed arrangement to raise N30 billion unsecured bond at 16.48 per cent fixed rate from the nation’s capital market.
The bank had after the endorsement of the shareholders for the offer at the bank’s yearly general meeting this month, received the approval of the Nigerian Stock Exchange for the offer. Read more
Reps’ probe into economy stalled
Two months after the House of Representatives ad-hoc Committee on the State of Economy was constituted, the investigation is yet to begin even as the 7th House prepares to wind down its session.
The Nation learnt that the ad-hoc committee, which is headed by the Chairman, House Committee on Legislative Budget and Research, Opeyemi Bamidele, is yet to receive any terms of reference from the leadership of the House through the Clerk, Sanni Omolori. Read more
AshakaCem Posts N4.6bn Profit Despite N1.5bn Loss to Insurgency
The Chairman of Ashaka Cement Plc, Mallam Suleiman Yahyah, has said the performance of the company in 2014 showed the resilience of the management and commitment of its parent firm, Lafarge Africa Plc to sustenance of investment in the north eastern part of the country.
Despite losing N1.5 billion to insurgents attack last year, Ashaka Cement ended the year with a profit after tax of N4.566 billion, up from N2.824 billion in 2013. Read more
BOI Declares N612m Dividend for 2014
The Bank of Industry (BOI) has declared a dividend of N612 million for the year ended 31st December, 2014.
This is even as the bank stated that it has created over 500,000 direct and indirect jobs from the N127 billion loans disbursed to Medium and Small scale Enterprises within the year under review. Read more
GTBank, oil firm in $50m financing deal
Guaranty Trust Bank (GTBank) is concluding discussions with an oil firm to advance a $50 million loan to help the firm finance its fabrication yard project, it was learnt.
The immediate past Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Ernest Nwapa, who spoke on the sideline of the Nigerian Investment Forum in Houston Texas, United States, said the deal would boost the industry, adding that the details would not be discussed in order not to disrupt the process. Read more
Transcorp seeks N2b tax refund from Fed Govt
Transnational Corporation of Nigeria Plc (Transcorp) is demanding the refund of the N2 billion tax it paid to the Federal Government at its Ughelli Power plant.
Addressing shareholders during the Ninth Annual General Meeting (AGM) of the conglomerate in Abuja at the weekend, its Chairman, Tony Elumelu, said the company had written to the authorities, demanding a refund of the money and hoped the letter would be accorded attention. Read more
Oil and Gas
Oil steady in Asian trade
Oil prices held steady in Asia on Monday after an interest rate cut by China boosted demand hopes in the world’s top energy consumer, while a healthy US jobs report also provided support, analysts said
The US benchmark, West Texas Intermediate for June delivery, eased eight cents to $59.31 while Brent crude for June rose two cents to $65.41 in late-morning trade. Read more
Nigerians seek transparent disbursement of oil revenue
Following an audit report recently released by Nigeria Extractive Industries Transparency Initiative, NEITI, stakeholders have called for effective and transparent disbursement of fiscal allocation of proceeds from the oil sector.
The stakeholders made the call during a three-day workshop by Centre for Public Private Cooperation, CCPC (a non-governmental organization), in collaboration with NEITI and Department For International Development, DFID, in Lagos, to sensitise civil societies in the South West on ways of deepening their advocacies in ensuring transparency in disbursement of fiscal allocation of proceeds from Extractive Industries. Read more
10mw Katsina Wind Farm Project 98% Completed – FG
The Ministry of Power has disclosed in Abuja that the 10Mega Watt Katsina wind farm project has reached 98 percent completion and is now undergoing test run.
Permanent Secretary, of the Godknows Igali said in a statement at the weekend that test run has commenced on the thirty-seven turbines with the five already successfully tested. Read more
Flying Eagles Skipper Warns No Automatic Shirt
Skipper Musa Muhammed has maintained there are no automatic shirts in the Flying Eagles for the U20 World Cup and competition for places has been fierce as the deadline for the submission of a final squad draws nearer.
The Flying Eagles have to announce a final 21-man on Friday, May 15. Read more
Pinnick returns on Tuesday
NFF President Amaju Pinnick will return to the country on Tuesday after a four-week medical trip to the United Kingdom.
A domestic accident four years ago has compelled the Delta State –born administrator to undergo regular ear surgery and the recent exercise has been as successful as previous ones. Read more
Giwa FC hold Enyimba in Aba
Giwa FC continued their impressive run to the season with a vital goalless away draw against Enyimba FC of Aba in the week 8 Glo Premier League at the Enyimba International stadium.
The result means that God’s Elephants occupy second position on the league table with 15 points behind Sunshine Stars. Read more
NFF rejects Bassey’s resignation
The Nigeria Football Federation, NFF, has rejected Paul Bassey’s resignation from the Technical and Development Committee of the NFF.
Bassey, a veteran Sports Journalist and member of CAF and FIFA Media committees had said he would resign from the Committees if Stephen Keshi was hired to coach the Eagles after Nigeria failed to qualify for the Equatorial Guinea African Cup of Nations which was won by Cote d’Ivoire. Read more
Siasia woos Flying Eagles to Dream Team
Hours after Stephen Keshi revealed plans to draft some Flying Eagles’ players into his Super Eagles team after the upcoming FIFA U-20 World Cup in New Zealand, Dream Team VI Coach, Samson Siasia has followed suit with similar plans.
Daily Sun Sports learnt that Siasia, whose national U-23 team is currently preparing for this year’s All Africa Games as well as next year’s Olympics in Brazil has confirmed that he will elevate most of the Flying Eagles’ players to the Olympic squad after the FIFA U20 World Cup in New Zealand. Read more
Heritage Bank Backs 2015 Okpekpe Race
Heritage Bank Limited has extended its Corporate Social Responsibility (CSR) vote for wellness and physical fitness of Nigerians to the 10-kilometre Okpekpe Road Race as the ‘official banker’ of the race organisers.
The annual international event, which will take place on Saturday, May 16, 2015, in Okpekpe, Edo State, has been certified by the International Association of Athletics Federations (IAAF) as a ‘bronze label’ event on its calendar, is in its third edition. Read more
Iheancho is Man City’s future – Kompany
Belgium International Vincent Kompany has hailed Nigerian progidy Kelechi Iheanacho as a very important part of Manchester City’s future after he helped the Citizens U-21 team win the Premier League International Cup.
The Nigerian, who was watched by City’s senior duo of Edin Dzeko and Aleksander Kolarov, showed great composure to score against Porto as he rounded the goalkeeper before placing the ball into an empty net to give Patrick Viera a hard fought 1-0 win and the French man’s first managerial title. Read more
Nigeria for WTF World Championships
Three athletes, led by Beijing 2008 Olympics bronze medalist, Chika Chukwumerije will hoist Nigeria’s flag in the World Taekwondo Federation (WTF)-organised World Championships holding this week in Chelyabinsk, Russia.
The other athletes are United States-based Saturday Bashir and France-based Murtala Mohammed , who will be on duty at the tournament kicking off tomorrow at Traktor Arena in Chelyabinsk. Read more
King Salman Upends Status Quo in Region and the Royal Family
For much of the past decade, change has come slowly to Saudi Arabia, if at all.
The oil-rich kingdom was led by an ailing monarch who worked quietly behind the scenes to preserve the status quo, propping up friendly dictators around the Middle East and depending on a leadership of aging princes at home. Read more
2 Babies Die, 29 Sickened From Bad Vaccines in South Mexico
Mexico’s public health system has suspended infant vaccines and mounted an investigation after two babies died and 29 were sickened in an impoverished community in southern Mexico.
Six of the 29 babies are in grave condition after receiving vaccinations for tuberculosis, rotovirus and Hepatitis B, which are generally administered between 0 and 6 months, according to a national schedule. The cause of the adverse reactions is not known, the Mexican Institute for Social Security said Sunday. Read more
Korean general believed behind 2010 S. Korea attacks dies
The North Korean military general believed by archrival South Korea to have been behind two attacks on South Korea that killed 50 people in 2010 has died. He was 77.
The North’s main Rodong sinmun newspaper said Monday that Kim Kyok Sik died of acute respiratory failure on Sunday. Read more
Raila starts off Okoa Kenya rallies
Cord leaders Raila Odinga and Kalonzo Musyoka on Saturday started their Okoa Kenya amend-the-Constitution campaign in Nairobi and said success would mean more resources to the grassroots.
They said their drive for a referendum was on course and called for support from their followers. Read more
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