Tagged: Nigeria

I Don’t Have A House Outside Nigeria- Dangote

Africa’s richest man and foremost business mogul, Alhaji Aliko Dangote, has disclosed that despite his wealth, he has no residential property outside Nigeria. Dangote, whose 2015 net worth was put at $21.6billion, according to Forbes, also revealed how the late Chief M. K. O. Abiola discouraged him from investing in the media. The business mogul stated this during an interactive meeting with senior media executives in Lagos at the weekend. He said, “Somebody asked me, how many houses do you have abroad? I said, well, to tell you the good news, I don’t even have a nine-inch block outside Nigeria, and...
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Nigeria Is Broke Because Some People Have Stolen So Much- Oshiomole

Edo State Governor, Adams Oshiomhole has called on President Muhammadu Buhari to go after those who have stolen the country’s money. Addressing newsmen after the meeting of the governors on Wednesday, Oshiomole noted that the country’s financial issues was not just because oil prices had fallen but because some people had deliberately milked the nation’s treasury dry. His words, “I think the media is not being accurate, the country is bankrupt, not just the states. The Federal Government’s finances are even worse, considering that they borrowed over N4 trillion. The entire funds for pension scheme...
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Ayeyemi Named New CEO Of Ecobank

Pan-African bank Ecobank Transnational Incorporated has named Ade Ayeyemi as its new group chief executive. Nigerian Ayeyemi, currently head of Citigroup’s sub-Saharan Africa division, will replace …

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Nigeria Moves Up To 42nd Position In FIFA Ranking

Nigeria has moved up to the 42nd position in the latest list FIFA global rankings released on Thursday. The Eagles however, remain the seventh ranked African side behind Algeria, Cote d’Ivoire, Ghana, Tunisia, Cape Verde Island and Senegal. Algeria continue to be the top-ranked African side and are 21st in the world. Cote d’Ivoire are in 24th position in the world and second in Africa. They are followed by Tunisia, Ghana, Senegal, Cape Verde Island, Nigeria, Guinea, Congo DR and Cameroon. The next world ranking will be published on July 2, 2015.
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FG Paying $800 Million To Oil Suppliers To End Crisis

Oil suppliers say Nigeria's outgoing government has agreed to pay $800 million to end a fuel crisis crippling the economy just days before the inauguration of a new president Friday in Africa's biggest oil producer. Chaos reigned Tuesday at Nigerian airports, where most flights were cancelled due to the shortages. Cars and other vehicles formed queues of more than 2 kilometers (1 mile) outside of gas stations. Banks closed at lunchtime and cellphone companies warned they would be forced to shut down service countrywide for a lack of diesel to fuel generators. The Independent Petroleum Marketers Association...
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Nigeria Loses N5tn Annually To Oil Theft

The Chief Executive Officer, Nigerco Nigeria Limited, Yabagi Sani said the country is experiencing an annual operational losses of $25bn (about N5tn) from the oil and gas sector. He said the losses were being incurred through crude oil theft and non-adherence to principles and standards as stipulated in the Weights and Measures Act. Yabagi’s firm is currently implementing the legal metrology system in Nigeria on behalf of the Weights and Measures Department of the Ministry of Industry, Trade and Investment. He said implementation of legal metrology in the oil and gas sector of the Nigerian economy would...
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Nigeria Slashes 2015 Fuel Subsidy By 90% Following Oil Price Slide

Nigeria will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices. The government had said it would gradually phase out fuel subsidies which are a significant burden on public finances, but cutting subsidies risks aggravating a fuel crisis in the country. Major cities are experiencing a crippling gasoline shortage as oil importers feel the pinch from unpaid government subsidies, a plummeting local currency and tighter credit lines triggered by lower crude prices, oil traders and local industry sources say. While Nigeria is Africa's biggest oil...
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Plain Truths From Renewal By Pat Utomi

You are right again, Einstein. The old thinking that created this problem will not fix it. Nothing is more desperately needed than a new way of thinking about our problems in Nigeria, but there are ever present dangers if old ways still hold sway. In the area of the greatest urgency, saving the country from an impending bankruptcy, wiping the unemployment scourge and boosting confidence in future prospects, through inspiring our youths to recreate the future, challenges of approach remain. Has change really come? It is common talk amongst those who know that if we do not do an extraordinary job of cutting our...
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We Will Shut Down All South African Businessess In Nigeria Including MTN, DSTV- Tolu Adesanya

The South African government has been given 48 hours to stop xenophobic attacks on foreign nationals and their shops or else their companies abroad will be shut down. An official with the newly elected All Progressive Congress (APC), Tolu Adesanya, confirmed to eNCA that they handed down a memorandum to the South African embassy in Lagos on Wednesday. In the memorandum, the APC party officials and members of civil society groups have demanded that South Africa take swift action against attacks on foreign nationals. Adesanya said that Nigeria will shut down South African businesses if their demands are not...
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US Aims To Broaden Ties With Nigeria

United States Vice President, Joe Biden, has affirmed his country’s readiness to expand collaborations with Nigeria on issues of common concern. These include economic and security matters. …

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Africa Rising – But At What Cost To The Nigerian Youth? (#AfricaNot4Sale)

Nigeria is reported to have a population of over 170 million and is seen as Africa’s most populous nation. It is also important to note that 70 percent of the population comprises of youths between the ages of 16-35 years. Now with the current life expectancy of 35-45 years, it becomes only fair that the largest segment of the population should be at the helm of power and the decision makers in the country. The youths took a stand and voted for candidates of their choice without fear or favour. The dissatisfaction of the people was shown in their votes. But how many young...
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The 2015 Elections And The Rouse Of Ethnic Militias In Nigeria By Orukotan Ayomikun Samuel

Nigeria is a pluralistic society moving towards quite another matter. In former times, national leaders had rallied their political forces with the exhortation that unity in diversity must not be compromised for political differences or social inequality. It is so disheartening these days that Nigeria is slowly but surely dividing along ethnic climes, religious sentiments and tribal life by its so-called flesh and blood. This strategy of conquest by disparagement employed by our kith and kin will continue to weaken our fragile democratic institution, diverse cultural values and relic continental...
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Nigeria’s Security Council Gives Condition For Elections To Hold In North East

*No news on abducted Chibok girls-Minimah People of the troubled zone of North-east will exercise their voting rights in the coming elections only when all the structures of government and governance there are reinstated. This was the outcome of a meeting of the National Security Council presided over on Tuesday by President Goodluck Jonathan. The meeting, which was held at the Presidential Villa in Abuja, lasted several hours. The chairman of the Independent National Electoral Commission (INEC), Professor Attahiru Jega, briefed the council on the readiness of his commission for the elections. Jega,...
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Oshiomole Accuses PDP of Wrecking Nigeria’s Economy

Governor Adams Oshiomole of Edo State has said the Peoples Democratic Party-led Federal Government has destroyed the nation’s economy. Speaking to a coalition of women from across the 18 local government areas of the state, led by Evelyn Igbafe, who paid him a solidarity visit, Tuesday, Mr. Oshiomhole said, “PDP has mismanaged the economy. You can all see that you need about N220 now to buy $1. When PDP took over power in 1999, $1 was between N60 and N65. “They have destroyed the economy. After 16 years PDP cannot give light to Edo people and upon the darkness, they are using their might to collect...
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The 2015 Elections: There May Be Another Country By Nnaemeka Oruh

The tension is palpable. Naked fear walks through the land unchallenged, waylaying people at every turn. While a deadly group of religious bigots has laid siege on our land and seem not to be letting go of its asphyxiating hold on us, it was not the major reason for the fear that now roams through the streets of our land. After all, the deadly group has for now confined its activities to a particular part of our land. This fear is a fear born out of something else. Something that defies geographical boundaries. Something that is omnipresent. It reaches out to all of us,...
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Cars Are Made in Africa… (Must Read)

Kiira Motors Corporation, Uganda Originally developed by students from Uganda’s Makerere University for a project headed by Massachusetts Institute of Technology (MIT), the sedan hybrid electric …

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ECOWAS Observers Arrive for Elections

The Economic Community of West African States (ECOWAS) has deployed 12 members of the Long-term Election Observation Mission (LTEOM) to five of Nigeria’s six geopolitical zones to monitor the country’s general elections. According to a statement from the regional body at the weekend, the team, which is part of a larger 250-strong ECOWAS Election Observation Mission (EOM), headed by former Ghanaian President John Kufuor, has met key Nigerian political stakeholders including the Independent National Electoral Commission (INEC) and the National Human Rights Commission. “The observers have also consulted...
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Nigeria Keeps Playing the Boko Haram Blame Game By Siobhan O’Grady

Goodluck Jonathan’s national security advisor has a simple message for the Nigerian military: “If you don’t want to fight … get out of the army.” Speaking at the Royal Institute of International Affairs at Chatham House in London on Thursday, Sambo Dasuki said the cowardice of Nigeria’s army is the reason why a multinational military base in Baga fell to Boko Haram terrorists earlier this month in a bloody attack that deeply embarrassed Jonathan’s fragile government. “We had a lot of cowards, and it turned out there was a problem in the recruitment process,” he said. “We’ve had a lot...
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CNN Report On Nigerian Soldiers Satanic- Defence HQ

The Defence Headquarters have expressed outrage against recent reports by the CNN on the activities of Boko Haram in the north-east zone of Nigeria (Click to Watch Report), describing the reports as satanic and crafted to destroy the Nigerian Army. A statement posted on the website of the Nigerian Military took umbrage on the idea of CNN making reports on Boko Haram insurgency in the north-east, while quoting supposed Nigerian soldiers, stating that no soldier would speak to a foreign news medium without authorization. Read Defence Headquarters' statement below:   Credit: www.newspotng.com
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Nigeria may not Change after 2015 Elections by Kingsley Ohajunwa

Don’t misunderstand the title; it’s only a prediction of what may be the state of affairs after the much talked about and anticipated 2015 general elections. Are you among those who are optimistic about a better Nigeria after 2015 elections? Good! Your optimism may just pay off. But then again nothing concrete can ever be achieved by mere wishing or better still by mere good hopes or optimism. Such concrete things have to be deliberately, strategically and in this case honestly worked for. So if anyone comes with a negative or contrary opinion, perhaps such a person may have a foresight to the future and...
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Tell Nigerians Why They Are Still in Darkness, Buhari Challenges Jonathan

All Progressives Congress (APC) presidential candidate, General Mohammadu Buhari, at the weekend, challenged President Goodluck Jonathan to explain to Nigerians why they are still living in darkness, despite several promises he made in the past. The APC presidential candidate, in a statement issued by Buhari Support Organisations (BSO), maintained that President Jonathan, before now, had promised that “if voted  into power, within the next four years, the issue of power will become a thing of the past. “Four years is enough for anyone in power to make significant improvement and if I can’t...
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