This is for one polling unit abeg.

I regret doing NYSC.

How can a Permanent Secretary in a Ministry not do NYSC and me i suffered in Buniyadi.

God Punish all of them.

Some members of the National Assembly have set their sights on a fat new pie: President Muhammadu Buhari’s N500B Social Investment Programs (SIP).


Officials of the Budget and Planning Ministry, which is responsible for disbursing the fund, say the Senators and Representatives have tabled a list of their demands regarding how they can share of the money.

The sources say the legislators are demanding that unless they are allowed to select the beneficiaries of the SIP as well as award and take contracts under the scheme, they would simply terminate the program, which is designed to benefit ordinary Nigerians including the most vulnerable and the poorest, as well as unemployed youths.

One Senator from one of the Niger Delta States, Bayelsa to be precise, threatened to “kill the entire program,” if Senators are not allowed to choose beneficiaries of the N-Power jobs for unemployed graduates, while a Representative from Kano State (the chairman house committee on poverty alleviation) specifically demanded contract benefits. According to a Kano State government source, it took the intervention of the governor of that state to call the Representative to order.

Similarly, some Senators have demanded of the Presidency that Senators be allowed to nominate 50 beneficiaries each for N-Power. That is in opposition to a selection system that would guarantee equal opportunity for all Nigerian youth by means of an online application process. That system has already allowed in 200,000 Nigerian previously unemployed graduates who got in without needing to press any buttons whatsoever.

The Presidency has explained that the beneficiaries of all the SIPs are being produced through that fair online application process, which is also easily audited and cross-checked.

In several instances, some of the National Assembly and other partisan political operatives have been reported to be selling illegal application forms to unsuspecting Nigerians and charging illegal fees in the process.

Said a government official, “They simply don't understand that President Buhari would not tolerate any form of diversion of the resources. Many of them still think it is business as usual. Why are National Assembly members so desperate and when did it become a duty of the legislator to implement or execute policies?”

An informed source explained that if the Buhari administration ever succumbs to the demand of legislators to choose beneficiaries, not only would they produce bogus lists, they would also exploit them by taking significant percentages of their stipends and other monetary proceeds.

While it is true that the SIP budgetary allocations in the 2016 budget is the largest of its kind in the country, similar efforts of its kind are known to have been compromised in the past by political opportunists who see such programs as opportunities to enrich themselves rather than to deliver services to the targeted demographics.

It would be recalled that already all the SIPs of the current government have taken off. They include the employment of 200,000 graduates; the National Homegrown School Feeding program, in seven states; and the Conditional Cash Transfer (CCT), which is being paid to beneficiaries in nine states and is aimed at one million Nigerians in its first budget cycle.

There is also the Government Economic and Enterprise Program, (GEEP), which giving interest-free soft loans to Nigerians in over 13 states of the federation in sums ranging from N10,000 to N100,000 each. GEEP is meant to benefit about 1.6m Nigerian traders, and artisans, as well as market men and women.

Source: http://www.nigerianeye.com/2017/02/legislators-want-control-of-n500bn-sip.html

transparency is very important, that way no one will want to rock the boat and damage something that already works.

Congrats to him.

Pictures of him with the Nigeria U17 team in 2012 and when he signed for Genk in 2015

Shame to Wailers

GossipHeart:
Just wasted their time bombing nothing.

Bitterness detected.

GossipHeart:
Just wasted their time bombing nothing.

Bitterness Detected.

REVEALED: Samson Saisia, NFF, Yemi Idowu and the Nigerian U23 Dream Team Olympic Journey

Nigeria’s under-23 Olympic football team made international headlines few days ago for the wrong reasons after stories emerged of how the team was ‘stranded’ in Atlanta and had to be ‘rescued’ by Delta Airlines. Little did many know that the real hero was Yemi Idowu, a Nigerian businessman, sports philanthropist and enthusiast, who spent $ 300,000 from his personal pockets to provide an aircraft to fly the Dream Team from Atlanta long before Delta Airlines provided an alternate flight plan.

THE GENESIS

The Nigerian Football Federation (NFF) was well aware that the National U-23 was an Olympic Team and the Olympics takes place every four years. They were also aware that a tradition exists where Team Nigeria departs for major international sports competitions together.


It is also a norm that the Federal Government through the Ministry of Sports hand over officially all the contingent from all sports federations that qualified for the Olympics, including NFF to the Nigerian Olympic Committee.

Around early July, about a month to the beginning of the Olympic games, the NFF under Amaju Pinnick informed the sports minister that they will be taking the U-23 Team to Atlanta in the US for Pre-Olympic camping and from there they will proceed to Rio in Brazil.

The Sports Minister Solomon Dalong made it clear that there was no money for the Atlanta trip, and advised them to camp in Nigeria before flying to the Olympic games in Rio. The NFF however stated that they had full sponsorship for the Atlanta camping, and thus they didn't need any money from the federal government.

THE ILL-FATED ATLANTA TRIP

As at the time the NFF dispatched the under-23 Team to Atlanta, USA, the sports minister was not informed.

Few weeks after their stay in Atlanta there were reports that the Nigerian U-23 was about to be thrown out of their Camp in Atlanta. Meanwhile the media officer of the team who was left behind in Nigeria insisted that the U-23 got an invitation by the city of Atlanta to play in a competition.

Is it not curious to wonder how a team that had full sponsorship to travel to Atlanta, and also allegedly have been invited by the city of Atlanta will get thrown out of the hotel due to unpaid bills?

Few days into the Atlanta stay, the news about the ejection of the under-23 team from their Atlanta hotel spread like wild fire.

Suddenly the supposed sponsors were nowhere to be found and the U-23 team coach Samson Siasia started the outcry about their ejection. However this failed to extract money from the federal government as they wished, but somehow the team managed to survive several weeks in the hotel in Atlanta.


THE MESSY TICKETING SAGA

The consultant to the Ministry of Sports, Angie Taylor was responsible for arranging tickets for Team Nigeria members residing outside the country especially those in the US. She arranged tickets for the D'TIGERS, our National Male Basketball Team who were incidentally in Atlanta also and left for Rio four days before the Olympics opening ceremony.

She also arranged for several other athletes outside US.

However NFF's U-23 team rejected the ticketing agent provided by the sports ministry stating that they had their own ticketing agent.

The NFF thus insisted that the Sports Ministry gave them the funds to pay their agent for the tickets.

The sports minister, Solomon Dalung requested for the name of their ticketing agent and his account details so that the money will be paid to him. The NFF however refused to give him the agents account details, stating that they wanted the funds instead.

In a bid to avoid a stalemate following the NFF's insistence to buy their tickets through their ticketing agents the sports ministry approved the release of $174,000 Dollars (About N80 million) through the Nigerian Olympic Committee who remitted the sum to the account of the NFF agent
.
After the payment was made, in a surprise move, the agent again asked for more money claiming that he would not allow the team to leave for Rio if the team's hotel bills were not paid.

The Sports Minister then asked the NFF to talk to their agent and allow the team leave for Rio, since the Olympics was starting in two days. He also stated that whatever the bill was he would settle it in the interest of the country. However the agent, Jairo Pashion, a close associate of Coach Samson Siasia insisted that he will not allow the team to leave for the Olympics.

Coach Samson Siasia was then called upon to talk to the agent, but Siasia said 'it is not my business'.

YEMI IDOWU TO THE RESCUE

At this point a Nigerian philanthropist, Yemi Idowu who was following the saga which was already on local and foreign media sought to save Nigeria from international embarrassment by making new arrangement to charter another plane for the Under-23 Olympic football team.

Yemi Idowu is the son of the Late Nathaniel Idowu, the extraordinary sports administrator and philanthropist who started professional football league in Nigeria.

Yemi after contacting the sports ministry, decided to spend $300,000 from his personal pockets to provide an Embraer EMB135ER aircraft to fly the 18-man Dream Team and officials from Atlanta to Brazil, but Coach Samson Siasia rejected the plane without stating any reason initially.

After rejecting the plane, the Sports Minister, Solomon Dalung put several phone calls through to Siasia, but the coach of the U-23 team refused to speak to the Minister.

The Minister then called team captain, Mikel Obi and asked about Siasia's whereabouts, but Mikel said the coach was not around. The minister then told Mikel to let Siasia know that he called and will like to speak to him. He also told Mikel that if there is any problem he should let him know about it.

It was at this point that stories were twisted that the Minister said Mikel should be in charge of the team and not Siasia.

After all efforts by the Minister to speak to Siasia failed, Siasia then called the Nigerian Vice President, Yemi Osinbajo and said to him that the team was stranded in Atlanta due to non payment of hotel bills and flight to Brazil.

The Vice president immediately called Dalung but could not reach him, then called Information minister, Lai Mohammed and instructed him to reach Dalung on the matter.

Meanwhile the Vice President also instructed the Accountant General of the Federation and directed him to arrange $474,000 immediately for the Team.

Lai Mohammed later conveyed the Vice President's message to Dalung, and the Sports minister explained how Siasia avoided his calls and refused to speak to him.

Lai Mohammed then called Siasia and told him that his Minister was trying to speak to him. Dalung then called Mikel again and asked him to take his phone to Siasia so he could speak to him.

According to eyewitness reports, Dalung was placed on hold for several minutes before Siasia spoke to him. Dalong then asked Siasia why he refused to use the Chartered plane Yemi Idowu paid for, Siasia said 'the plane was too small and it had no space and the boys were complaining'. Dalung then said to him "You are the coach, I have goggled the plane and I think it is good enough why can’t they use it?"

Investigations however revealed that the real reason why Siasia rejected Yemi Idowu's chartered plane was that the number of the contingent were more than the capacity of the aircraft. The Aircraft had a capacity to cater for 25 people but the total numbers of 32 people were waiting in Atlanta.

The Minster then stated that the NOC informed him that the official contingent for the football team plus officials to RIO was 25 that was why Yemi Idowu chartered a 25-seater aircraft.

Unknown to all the extra seven people were Siasia's family members.

The minister then called the Vice President and explained everything to him and the VP was very shocked and disappointed. The VP was also informed by Dalong that there was a plane ready for the team's official contingent that was paid for therefore it is not true that they were stranded.

The Vice President then instructed the Accountant General not to release more money and asked the sports ministry to handle the situation. When all these was going on NFF president, Amaju Pinnick remained quiet and he was not even talking to Solomon Dalung.

The Sports Minster then called Mikel Obi again and the captain said that the agent has provided them an accommodation and booked a flight for them to travel to RIO.

The story of Delta Airline coming to the rescue of a 'stranded' Under-23 team is very false, and it is important for Nigerians to know this.

Noteworthy, Delta Airlines was a co-sponsor of the tournament which the U-23 attended in Atlanta as part of the 20th Anniversary of the 1996 Atlanta Olympic Games, so flying the team out of the camp was not so much a favour as widely publicized.

If there is anyone who truly deserves commendation, it's that great man Yemi Idowu who like his late father has left his footprints on the sands of time.


Oluwole Isaac writes from Abuja Nigeria.

Yemi Idowu's Nath Boys Football Club have won the 2015/2016 Metro Pro League title having won Remo Stars 3-1 on the season’s final day.


Goals from Ademilua Adebayo and Ekene Okolugo’s brace were all the Achieve Yunus coached boys needed to breezed aside the Sky Blue Boys who got their lone strike through Ibeh Nnamdi at the Agege Stadium.

Victory meant they emerged as champions with 34 points to Remo Stars' 33 points.

"It's great to win this crown in my second season. It was very tough because there were no pushovers in all the teams that participated,” coach Yunus said after the game.

"So, it is a victory we are going to savour for a long time to come.”

Metro Pro League Chief Executive Officer, Victor Akinyooye while urging corporate bodies to partner with the league assured that more innovations would be witnessed in the new season.

"Metro Pro League has come to stay as fans home and abroad are keen about the league,” Akinyooye said. “People follow it week in, week out and we won't let them down in anyway.”

This victory is another huge achievement for Mr. Yemi Idowu the renowned industrialist and businessman who owns Nath Boys Football Club. This is the 3rd Regional League Championship that his Nath Boys team has won since it was formed in 2010.

Metro Pro League Chief Executive Officer, Victor Akinyooye while urging corporate bodies to partner with the league assured that more innovations would be witnessed in the new season.

"Metro Pro League has come to stay as fans home and abroad are keen about the league,” Akinyooye said.

“People follow it week in, week out and we won't let them down in anyway.”

Other teams that participated in the league for Lagos privately owned clubs are 36 Lion, The Saints FC, Pepsi Academy and Bridge FC.

kendrick9:
Buhari is the worst president i've seen since my lifetime... absolutely incompetent

Its just sad that you are saddened by success against insurgents. Very Sad.

Doesnt matter if you divide first or multiply first.

Parenthesis is the same as Bracket, while the term "of" referred to exponent.

Why I support President Buhari on exchange policy

Many times my late father used to take a position on national matters which I did not understand. I used to spend long hours arguing with him on economic and tribal matters but he would simply stand his ground and be officious which was very annoying.

I had just returned from England full of ideas and I wanted to improve his business for him. This old man had sent his children overseas to study and he simply refused to allow us to practice what we learnt. He was happy to allow us to run the business but there were some "no go areas" which I did not understand.

After watching Nigeria for over 25 years and seeing the "boom bust" cycle happen twice, I now have a better understanding of third world economics and politics. I am now very weary of international agencies like IMF, World Bank and all these high sounding economists on CNN who prescribe policies like road side medicine peddlers who sell "cure all" medicines for all diseases.

I definitely agree with President Buhari PMB that devaluation of the Naira will only bring hardship upon all Nigerians and it will not solve the problem at hand. Any devaluation will only make a few richer and the masses poorer.

Engineers and Scientists follow an exact science. When they advise you on certain steps in a sequence it is possible to predict the outcome in a deliberate way. An Aeroplane will always take off and land with such certainty that we are willing to take the risk of flying even for holidays. The same thing applies in the medical field. Engineers and Scientists are all able to prove what will NOT happen with some accuracy and they will back up their position with data and research.

Unfortunately Social Scientist and Economists are not in the same business. They are busy peddling their trade of faulty medication all over the market place without fear of reproach. They occupy all the news media like CNN, BBC , CNBC etc and spend hours analyzing and advising people, companies and countries on economic policy and even political policy. They are quick to advice on Syria and Iran but when it fails they simply move to another topic without anybody calling they to order.

They are also quick to advise Egypt and Nigeria on currency Managment but nobody notices how they have failed.

Egypt is now suffering from this misdirected policy while Nigeria was saved this embarrassment by the steadfastness of our own PMB. Please read the article below.

http://www.reuters.com/article/us-egypt-dollars-blackmarket-idUSKCN0XI1W9

It is likely that a wise president would have posed the following questions in the event of devaluation :

1. Will Organised labour ask for an increase commensurate to the inflation figures... ? Yes
2. Will it increase production and export? Definitely but not in the near term.
3. What is the predicted gap between the parallel rate and the official rate after devaluation to say N280 to the dollar? (No one knows)
4. Have the prices of goods and services doubled since the parallel rate has practically doubled? (NO)
5. Will the prices of goods and services double once we devalue to N280 officially? (definitely)
6. Will it cause widespread inflation? No Brainer.

PMB said on Thursday that he is not convinced that devaluation will solve our problem. This article reinforces his position.

Where devaluation is not matched with increased supply of dollar on a "willing seller willing buyer" basis, in my opinion will not solve the problem. Therefore we should avoid it unless we are sure devaluation will increase dollar supply. It will only increase poverty for already the impoverished Nigerian.

Yes it a well known economic principle that devaluation encourages export. But in the short term, there is nothing to export. The few exporters we have already bring their export proceeds through the back door and sell on black market anyway. Besides as my father said Nigeria already suffers from some cultural and structural defects that can not be fixed by international economic "Dictaks" alone.

If devaluation brings this difficult outcome for Egypt, it will surely be worse for Nigeria as we are NOT structurally diversified as Egypt. We are far more import dependent than Egypt.

Another proponent of devaluation are the state governments who think they will benefit if we devalue, thinking they will have more naira to pay salary and provide social services. But I think it will short lived . The resulting inflation will wipe out the benefit in no time.

I support PMB on devaluation. Perhaps we should take our time to observe the patient before taking the surgeon's knife to start an operation where we are unsure of the final outcome.

Perhaps creating a third tier interbank rate that allows people to inflow funds to settle expenses ,credit cards bills, school fees etc will reduce the pressure on the roadside market. But the transactions should be subject to international rules and anti money laundering AML rules. Spending money on Amazon, Konga, and other online purchases up to a limit depending on the category of customer . A limit of $500 per week up to a maximum of $4,000 per annum will definitely be enough for many young people and it will prevent people from buying cash on the road side to pay international fees ACCA annual dues etc. This will greatly reduce the pressure on the currency for now and it will satisfy the majority of normal people who do millions of simple transactions daily. It will also allow many people to remit funds to Nigeria for their family and friends.

Copied.

Dont mind the wailer.

boriswole:
Your Language shows your frustration, but you cant argue with facts.
once we stop bleeding through unprofitable crude swaps and our economy strengthens, maybe we can afford a minimum wage increase.
The truth is that the country cannot afford it.
How will governors who cant pay N18,000 pay N56,000. if you think that makes sense then i will understand your angle is not about making sense, it is about wailing.

There is a very complex thing called currency conversion that allows you to compare prices even though we dont use the same currency.
you should try learning it.

naija247:
It amazes me to see this kind of analysis. How can you compare the price of PMS in Nigeria to that if other countries? Do we all use the same currency? Is the minimum wage in all countries the same?

Your Figures are wrong.

Where is your source?

No need to conjure up figures, the writeup has enough sources and links to show i did not dream up the numbers. Petrol in Nigeria is the 12th Cheapest in the world.

great664:
Foolishness is a curse! OP now go back to the drawing board and rate those countries Minimum wage with our 18,000. Don't know who to blame in your case, your Zombiemsm has no cure again.

Now check the image below and google Non OPEC member minimum wage too...

cc Steadymind

By Daramola Babalola

On the 12th of May, 2016 Nigerians woke up to the detestable reality that they will now have to pay ₦145 per litre for Premium Motor Spirit (PMS), otherwise called petrol representing a 40% increase from the previous pump price, ₦86.50



While some are mobilizing for '#occupyNigeria season 2', labour unions in the country are currently planning to commence an indefinite nationwide strike action that will 'shutdown the economy' on Wednesday in a bid to protest the increase in fuel price.

Following the harsh economic realities Nigeria is currently facing, many Nigerians have labelled the Federal Government as being insensitive to the plight of its citizen by making fuel too expensive for consumption.

But really, how expensive is fuel in Nigeria, compared to other countries? and is the Nigerian government really insensitive? We are about to find out.

At ₦145/Litre, is fuel too expensive in Nigeria?
As surprising as it may seem, Nigeria is ranked 12th as per cheapest price of petrol in 173 countries even with the new ₦145 per litre price according to Globalpetrolprices.com

In Nigeria, fuel now costs ₦145/L and with the current exchange rate that is fluctuating between ₦320-₦360 to a dollar, it means we are paying about $0.44/L

It may however interest you to know that in United States, fuel is sold at the pump price of $0.65/L ( ₦214/L), In South Africa $0.84/L (₦277), In Russia $0.55/L (₦181/L), $0.91/L (₦300/L) in Canada, $0.92 (₦303/L) in Ghana, and it costs $0.93 (₦306/L) in China.

Some will argue that the countries above are not petroleum exporting countries (OPEC) like Nigeria, but what about OPEC member countries like Angola, where PMS is sold at $1/L (about ₦330), In Iraq at $0.64/L (₦211), In Venezuela pump price is $0.60/L (₦198/L) with President Nicolas Maduro calling the approximately ₦198/L pump price 'one of the cheapest in the world'.

Even in the oil rich, United Arab Emirates (UAE) PMS is sold at $0.45/L which is about (₦148/L) which is more expensive than the price in Nigeria.



According to Globalpetrolprices.com In Hong Kong, the pump price is set at $1.85/L (about ₦610/L) making the country the most expensive seller of gasoline in the world.



With the facts and figures above, at ₦145/L fuel is not expensive, it's actually one of the cheapest in the world, but because of the poor living conditions of millions of Nigerians, it appears expensive and thus, many Nigerians struggle to afford it.

That is why the government needs to provide welfare programs, kill that disease called corruption, invest in electricity, education, fix refineries, provide jobs and reduce poverty in the country

Is Nigeria the only country increasing pump price?

Again, the answer is a 'BIG NO'.The excruciating increase in pump price is not even limited to Nigeria alone, major oil rich countries of the world have increased their fuel price this year, some even by over 50%.

See examples below

Saudi Arabia 40% increase
In December 2015, Saudi Arabia increased fuel price in the country by 40%
http://www.aljazeera.com/news/2015/12/saudi-arabia-hikes-petrol-prices-40-pump-151228154350415.html
Oil rich Saudi Arabia, last year announced a record $98bn budget deficit due to 'rock-bottom global petroleum prices'
Like Nigeria, Saudi Arabia suffered a sharp drop in revenues as oil prices have fallen more than 60 percent since mid-2014 to below $40 a barrel.
To address the situation, the Gulf kingdom increased fuel price by 40%

Venezuela increased fuel price in February, 2016
President Nicolas Maduro in February increased fuel price to $0.60 (₦198) as Venezuela's economy was pushed to the brink by the collapse in the oil price, which accounts for about 95% of the country's export revenues.
He said the price over 50% rise was "a necessary measure, a necessary action to balance things, I take responsibility for it."
http://www.bbc.com/news/business-35600921?SThisFB


Fuel price increased in UAE in May, 2016
The oil rich, United Arab Emirates also increased pump price about 2 weeks ago.
Fuel is now sold at $0.45/L in UAE, which is about ₦148/L in Nigerian Naira, ₦3 more than the pump price in Nigeria today.
http://english.alarabiya.net/en/business/energy/2016/04/28/Fuel-prices-in-the-UAE-will-increase-in-May.html

Qatar increased fuel price by 30% in January, 2016
The oil rich country that last increased petrol prices in 2011, also increased pump price in January, 2016 to $0.36 (₦118) which is the 5th cheapest pump price in the world.
http://dohanews.co/qatar-increases-petrol-prices-from-midnight-tonight/


50% increase in pump price in Bahrain in January, 2016
As a result of the unprecedented drop in global oil prices, which has seen the price of oil per barrel decline by over 60%.
The government in Bahrain followed the steps of fellow Gulf Cooperation Council (GCC) member countries the country increased fuel price by 50% in January.
http://bna.bh/portal/en/news/705611

I could go on and on, to give more examples of oil rich countries like Nigeria that have increased pump price in 2016, Nigerians need to understand that this is not a Nigerian, Kachikwu, APC or PDP problem, this is a global problem we are dealing with affecting even the oil rich countries of the world.


We need to stop seeing the Federal government as insensitive, wicked, heartless, unfeeling, inconsiderate, thoughtless and hard-hearted for increasing the pump price to ₦145/L. We need to temporary sacrifice for the greater good, with the hope that as promised we will be better off in the long term.

To cushion the current challenges, the Federal Government must also sincerely provide social provisions for millions of poor Nigerians who will suffer from the fuel hike. Some of the oil rich countries listed above have increased fuel price this year, but due to the several welfare packages provided, the citizens can ease through this rough patch.

I am glad about the N500 billion social intervention programmes provided in the 2016 budget, which includes jobs, social safety allowance for the most vulnerable people, free schooling for students, soft loan to traders, investment in infrastructure etc. Hopefully Buhari's 'anti-corruption' centered government can channel the funds with 100% sincerity and accountability.



But why did the fuel price have to increase?

For that barber down the street who relies on petrol most times to power his small generator to keep his business running, it will be difficult for him to understand how the fuel price increase will benefit him in the long run. Infact, he will most likely rant everyday about the hardship the government is causing him.

I'm sure many have wondered why a country like Nigeria, blessed with oil suffer for it? But unfortunately, Crude oil price is an internationally traded commodity , the prices are not set by the countries that produce it. Neither do oil producing countries get a discount in the international market for producing this product.



While many think the current increase in fuel price is about removal of fuel subsidy, this notion is totally wrong because it was brought about by the non-availability of foreign exchange to import petroleum products. infact, there is no provision for subsidy in the 2016 budget according to the Vice President, Yemi Osinbajo.

Oil is selling at below 40 dollars and the currency (dollar) needed to purchase the refined petrol is no longer available, that is just simply the problem here.

Oil and gas make up more than 90 percent of exports in Nigeria, providing the critical source of Nigeria’s foreign exchange.

It’s that simple; a collapse in oil prices could lead to the same in Nigeria’s foreign exchange which is crucial to support consumption of imports. Foreign exchange rates also influence capital flows- investment funds that move into and out of a country. If oil prices continue to drop it would have an adverse effect on the country’s currency value, making it less attractive to foreign investors.

Since our local consumption of fuel is almost entirely imported. The NNPC exchanges crude from its joint venture share to provide about 50% of local fuel consumption. The remaining 50% is imported by major and independent marketers.

However marketers have drastically reduced their importation for several months due to a scarcity of FOREX, thus the need for them to source independent of CBN to be able to meet the nation’s demand arose.

Now any Nigerian entity is free to import the product, subject to existing quality specifications and other guidelines issued by Regulatory Agencies.

All oil marketers will be allowed to import PMS on the basis of FOREX procured from secondary sources.

It is expected that this new policy will lead to improved supply and competition and eventually drive down pump prices.

In addition, this will also lead to increased product availability and encourage investments in refineries and other parts of the downstream sector.


The difference between Jonathan's attempt to increase fuel price in 2012 and this? - And why the anti-₦145/L protests will fail
Former President Goodluck Jonathan ran into trouble after he removed fuel subsidy on New Year’s Day in 2012.



This took fuel price from ₦65 to ₦141 at filling stations. This led to massive protests by civil-rights groups, labour unions, and Nigerians generally. APC, the opposition party at that time, took political advantage of the situation by identifying with the suffering and criticizing the Jonathan administration for removing subsidy.

Four years later President Buhari officially removes fuel subsidy. Millions of Nigerians are angry. Nigerians are understandably accusing the present administration of cowardice, deception, and hypocrisy, but how true is this?

How much was oil price in 2011? Oil price was $113 per barrel. Today, oil price is just about $40 per barrel after going below $30 early this year.

And the exchange rate? Under Goodluck Jonathan’s leadership, the exchange rate was $1 to N162. Today, exchange rate is officially N199 to a dollar; N320-N360 in the parallel market.

And foreign reserves? Nigeria’s foreign reserves stood at $35billion in January 2012 and $29.61billion as at 28 May 2015, the eve of hand over to President Buhari. Today, foreign reserve is $27.1 billion, amid myriad of restrictive measures to stem the steady slide in the economy’s external sector.

Under the previous administration, Nigeria was enjoying an economic-growth rate of 6% averagely. Thanks to Foreign Direct Investment (FDI) riding on the back of a devalued Naira. President Jonathan also, largely, had the right economic mix. But corruption and terrorism were two of its greatest challenges. There were allegations of massive corruption, particularly what was reported to be a fuel-subsidy scam right under Goodluck Jonathan’s nose.

Rather than tackle these allegations by investigating and prosecuting those involved in the scam, President Jonathan decided to remove subsidy as the solution to the problem. The administration claimed removing fuel subsidy would free up funds for capital projects. But Nigerians had little or no trust in the administration. The administration was incompetent and corrupt. How can it be trusted to save for the future? This was a fundamental issue. So ‪#‎OccupyNigeria‬ shot down Nigeria’s economy in January 2012, not simply because Goodluck Jonathan increased fuel price but mainly because millions of Nigerians did not trust the administration with the money it claimed it would “save” for the future.



Today there are strong reasons to believe that if fuel-subsidy removal had been allowed in 2012, most of it would have ended up in private bank accounts.

Under the Buhari administration, though partly due to some of its own reactive and over-restrictive economic policies, the Nigerian economy is sick. There is scarcity of foreign exchange. Oil marketers are finding it extremely difficult to import petroleum products into the country. FDI has nose-dived. The low international-oil price meant there was no need for it.

Now that fuel prices have increased internationally, we expected the government to subsidize to alleviate people’s suffering. The Buhari administration says ‘No. We don’t have enough foreign exchange to do so.” Oil marketers are having difficulties opening letters of credit to import petroleum products. The result is that NNPC alone has had to supply over 90% of petroleum products since October 2015. This has not always been so.

NNPC used to supply 48% of petroleum products. Since NNPC does not have what it takes to supply so much, there will continue to be fuel scarcity. To tackle the scarcity problem, the government painfully decides to free up the oil-supply system by allowing the international-oil price determine fuel price locally without any fiscal intervention. Oil marketers are now accessing foreign exchange (through secondary sources) to import petroleum products into the country since ₦145 naira per litre provides some reasonable profit margin after supply costs.

Meanwhile, the government is taking measures to block leakages through zero budgeting, Single Treasury Account (TSA), and its Anti-Corruption Agenda. We are now talking about refineries, public and private-owned refineries that will eventually make fuel scarcity a thing of the past.

Nigerians asked Jonathan to work on old refineries and build new ones, given the resources available at the time, and first kill the regime of fuel importation. Subsidy would have died a natural death and the process of privatization would have been smoother. Today, some of the refineries are functional again, which were not in Jonathan’s days. Government-owned outlets sell refined fuel today, at a far cheaper rate. Not the private ones.

As labour go all out on Wednesday to attempt to shutdown Nigeria, my prediction is that they will not even achieve up to 5% of what the 2012 #OccupyNigeria protests achieved, the protest is bound to be a massive failure, because more Nigerians trust the sincerity of Buhari's government unlike his predecessor. And while the ₦145/L price remains a hard pill to swallow, it's still the 12th cheapest price in the world, facts only.

Source: http://www.nigerianeye.com/2016/05/at-145l-price-nigerians-buy-one-of.html

Fani-Kayode (N840m), Goodluck Group (N320m), Falae’s firm (100m), Udenwa and Onwuliri (N350m), Nenadi Usman (N36.9m), Okey Ezenwa(N100m)

The Economic and Financial Crimes Commission (EFCC) has uncovered how N3.145b was paid into the accounts of six chieftains of the Peoples Democratic Party(PDP) and Goodluck Support Group (GSG) by the Central Bank of Nigeria(CBN) in the build-up to the 2015 presidential election.

The beneficiaries include a former Minister of Aviation, Chief Femi Fani-Kayode; a former Secretary to the Government of the Federation and leader of the Social Democratic Party, Chief Olu Falae; a former Minister of Finance, Mrs. Nenadi Usman; a former Imo State Governor, Achike Udenwa; a former Minister of State for Foreign Affairs, Mrs. Viola Onwuliri and Mr. Okey Ezenwa.



According to a source in the anti-graft agency, the cash was paid by the CBN into the account of the Ministry of External Affairs Library, from where it was moved into the account of Joint Trust Dimension Nigeria Limited.

“It was from the Joint Dimension’s account with Zenith Bank that the money was shared to various individuals and organisations for purposes that are not stated,” the source said.



The details of how the money was shared are: Fani-Kayode (N840million); Goodluck Support Group (N320million); Achike Udenwa and Viola Onwuliri (N350million); Nenadi Usman (N36.9million);and Okey Ezenwa(N100million).

Giving an insight into how the funds were remitted into the recipients’ accounts, the source said: “Fani-Kayode allegedly received N840million, paid in three tranches into his Zenith Bank, Maitama branch account with No.1004735721.

“The first tranche of N350million hit the account on February 19, 2015; N250milion was also paid into the account on February19, 2015 while N240million was paid on March 19, 2015.

“The balance on this account as at 31st December, 2015 was N189, 402.72.

“The Goodluck Support Group allegedly received N320million

” Chief Falae allegedly received N100m through Marreco Limited, a company where he is chairman. The fund was credited into the company’s United Bank for Africa Plc account No. 1000627022 on March 25, 2014.

“Both Achike Udenwa and Viola Onwuliri got N350million in two tranches. The first tranche of N150million was paid into their joint account with Zenith Bank on January 13, 2015. The second tranche of N200miilion was credited into their account with Diamond Bank.

“Nenadi Usman was paid N36.9billion through her Zenith Bank account no. 1000158311 on 7, Kachia Road, Kaduna. Ezenwa was paid N100million.”

Investigators are probing why the PDP leaders got the cash.

The source said: “Detectives are trying to decipher the motives for the payments.

“But as things stand, the fact that most of the payments were made in the weeks preceding the last presidential election leaves very little to the imagination.”

“One knotty question that confronts the investigators is the figure behind Joint Trust Dimension Nigeria Limited, the account where the fund was warehoused before being wired to the beneficiaries.

“The shadowy figure could help unravel the mystery surrounding the payments, once the veil is lifted.”

Source: http://www.nigerianeye.com/2016/03/fani-kayode-falae-named-in-alleged-n31.html

PHILANTROPIC PROFILE OF MR FEMI OSIBONA
CHAIRMAN, FOURSCORE
NIGERIA

Mr. Femi Osibona is a Grand Patron, Sponsor and benefactor of Little Saints Orphanages and many other Non- Governmental organizations across the globe. He is a philanthropist to the core. He has a heart of Gold accommodating the troubles and difficulties of the less privileged, persons with disability, the elderly and vulnerable children.

Through various outlets of compassion he has brought succour and hope to the down trodden.
Since 1997 He has given scholarships for primary, secondary and tertiary education to over 200 children amounting to millions of naira. He has sent over 100 displaced young adults for vocational training who today are financially independent.

He donated an opulent property , furnished and fully equipped facility of a twin duplex and a bungalow worth over 250 million naira to Little Saints orphanage in Ogudu GRA Lagos. This accommodation has been home to the female undergraduates of the Orphanage as well as babies under care and custody from various courts in Lagos state. This donation is one of its kind and has boosted the morale of these vulnerable children lifting them to a privileged status, thereby re-writing their destiny.

On a monthly basis Mr Osibona organizes soup kitchens consisting of choice menus for orphans and widows in various orphanages and ghettos in Lagos State.

In recent times He has been the major sponsor of the events of the Association of Orphanages and Homes Operators in Nigeria, (ASOHON) donating Generators to orphanages across the country.

The generosity of Mr Osibona is remarkable and worthy of emulation. The corporate social responsibility of his companies is outstanding. He has amazing plans for the vulnerable children and less privileged of our nation. May God equip him to do more and reward him far beyond all our expectations.

-What was the vision behind setting up Fourscore Homes Ltd
Fourscore Homes started in London (Hackney) in 1997. I bought a House on New Cross Road which i renovated, behind it, I bought a plot and I was able to develop that plot into my first real estate project, that was how i started building houses for sale.
I also noticed that many Nigerians at that time were reluctant to go into construction but i believed anything was possible with God on my side.
I developed over 50 projects in London and Manchester, from there, we went to South Africa and built a number of Estates. After developing so many properties abroad, i decided to come back to my country of birth, Nigeria, and contribute my own quota to positive development.
Apart from developing residential houses, Fourscore homes also deals in residential light fittings and other building Materials.

-What does your company stand for? As a business what are your core values?
We are really passionate about value creation, we want everyone who purchases real estate from us to derive maximum value for their money. To achieve this, we go all out to ensure we chaperone the entire process from design to completion, ensuring that we adhere to best practice while minimizing our costs. This way we are able to deliver high quality units at the best value for money.

-The real estate landscape in Nigeria has changed dramatically in the last 20years, would you say more developers are focusing on luxury properties instead of affordable housing?
Yes, many developers build Luxury houses because they believe that the demand for such properties is high, This is however not the case anymore. There is a huge housing deficit of 17 Million Housing units in Nigeria, the world bank recently provided a conservative estimate that this would cost about 60 trillion Naira. This estimate is based on N3.5m Per unit. It is obvious that the deficit is for mass affordable housing and not luxury housing.
However, due to infrastructure deficits, land in areas where there is adequate infrastructure is expensive . Also people generally don’t want to spend money providing roads, electrification etc as this is primarily the responsibility of the government.
Consequently they want to maximise the returns on investment from their "expensive land" and quickly too. That is why you find many people building the kind of houses that will help them maximise return on their investment.

- There is currently an abundance of luxury housing in Nigeria which is out of reach to the common man, what do you think is the solution to creating more affordable housing to meet the pressing demand?
The Government needs to do more with access to affordable single digit Mortgages.
The Government (especially the State governments) who hold land also need to go into partnerships with private developers. A situation where the government will provide land for developers in return for a hugely discounted houses is desirable.
Another thing the government can also do to assist and support is to simplify and speed up approval processes.
Really, the Government should not be involved in building houses that cost N40million in a country where the minimum wage is N18,000. I think anyone who wants to buy a 40 Million naira house should be able to do that himself. Low cost housing should not cost more than 3-5million Naira.

- How has Fourscore Homes played its part in addressing the housing deficit in Nigeria?
Since we arrived in Nigeria, we have built over 400 housing units in Ikoyi, Ikeja, Ogudu, Isheri, Ogun State and Abuja and we are not about to stop.

-Arguably, Nigeria is home to some of the most expensive real estate in the world. Do you think that the value of these properties is sustainable in the long term?
Oh Yes.
What normally determines the price of properties is demand and supply especially for debt free houses which dominate the Nigerian real estate space.
As long as the government continues to develop infrastructure, roads, electrification, etc, upmarket real estate will continue to sustain its prices. If there will be a drop, it will only be marginal.

-Please tell us about some of the properties you have developed, how much would you say they are worth in total?
Remember that we don’t hold on to most of our properties. We develop and sell, but based on the present value of all the properties we have developed, they are worth over 40 Billion Naira.
We developed the Fourscore Mansions in London , the Shalom Apartments in Ikoyi, Nigeria and several housing units all over, Lagos, Ogun state and Abuja.

-What do you think of the Government’s efforts at housing development in Nigeria?
I am aware that Lagos state has done so much at PPP developments.
Lagos state should do more and other states should also do this.
When Government gives out Land to develop mass housing, this goes a long way to reduce the cost of development and definitely brings house ownership within the reach of the masses.

-What is the future of real estate development in Nigeria?
I believe the future is very bright, if the Government gets it right. We need to start from the basics, If the Government performs better in terms of providing the much needed infrastructure, it will attract more foreign direct investments and the sky is the limit.

Statement from the Vice president's spokesman.

Vice President Yemi Osinbajo was in Calabar and Lagos today -Thursday June 25 paying tribute to two eminent Nigerians whose lives reflect the very virtues of integrity, trustworthiness and social justice, which can lift our dear nation. The one is Late Justice P.O.E Bassey and Dr. Christopher Kolade.

He arrived Calabar at about 1030am attending the Justice P.O.E Bassey Memorial Lecture, at the University of Calabar, and left the town about 330pm, heading for Lagos where he spoke at the Convention for Integrity 3rd Annual Lecture.

Prof Osinbajo was well received in Calabar witnessed by the warmth shown him and his delegation by the people and government of Cross River State.

Claims that the town was in a lockdown because of his visit is just another mischievous and baseless report from some of the same social media quarters that misled the nation in the past about his purported exclusion from security meetings. The Vice President did not even spend ten hours in Calabar and could not have locked down the town, as his convoy moved freely among the people in regular traffic as he normally does.

I personally observed several people go about their normal activities and businesses without any hinderance.

He has since returned to Abuja after his trip to both cities.

Signed

Laolu Akande

Edit: Source- http://www.nigerianeye.com/2015/06/osinbajo-did-not-lock-down-calabar.html

What is the principal interest of the Igbos in Lagos? What do we seek to achieve in our sojourn here?

My take is simple. We seek a prosperous Lagos that is economically viable, peaceful....a mini Nigeria of sorts where all people are able to live and pursue their livelihood without let or hindrance.

As a people that thrive on commerce, Igbos want a Lagos where there are government policies that promote the growth of commerce and business. A Lagos where government builds roads, bridges, hospitals and is generally alive to their duties. Education is free in Lagos and our children enjoy this. No Igbo child has been sent away from any public school in Lagos. Lagos state government pays WAEC and NECO fees for all students in Lagos....our children enjoy this too.

What do we really want in Lagos? The truth is that we are strangers here. Lagos belongs to some people, just like Onitsha and Aba. Let's not carry on as if this place is a no man's land. It is not.

All of a sudden, Jimi Agbaje has become an Igboman....we have adopted him as our son.....the same way we adopted President Jonathan in the last election against our strategic interest as a people...a decision that has left us in serious political confusion and our senators begging to be admitted into the APC.

What is the difference between Jimi Agbaje and Akinwumi Ambode? Is any of them Igbo? What is our problem? I believe that we have a fair share here. We live in peace unlike our people in the North. I don't think there are more Igbos in Lagos than there are in Kano, yet we live peacefully here.

Yorubas are highly politically sophisticated people and they understand that it us better for them to have a government in Lagos that belongs to the same party as the party at the centre. Igbos cannot love Lagos more than Yorubas.

This is their land. If anything happens here now, we will all leave and return home. These people own here...this is their home and we must respect their feelings. Every person living in Lagos wants more federal presence in Lagos. We want a 4th mainland bridge, we want so many other things that the federal government can do. In the years past, Lagos hasn't enjoyed much federal intervention because of political
party differences.

Now they have that chance and we want to spoil it for them by being more catholic than the pope. Let everybody vote any candidate he wants but I reject any collective Igbo move to vote against the strategic interests of the people who own the land where we live and make our living.

Lagos has been good to our people. We have succeeded here in business and the professions. Let's not disrespect the people of Lagos. I will not support any move that will create an impression that Igbos are against the interest of the owners of Lagos. Nobody has murdered our people here like what we see in the north. Lagos remains the only state in this country where Igbos hold top government positions.

Even our neighbors and brothers, Rivers State have never given us that privilege despite our huge population and presence there. As for me, I want Lagos to progress and on Saturday, I will proudly vote for Akinwumi Ambode.

And dont mind that Oba, if you Vote for Agbaje, nothing will happen to you in Jesus Name.

Thank you.

More...

The Gubernatorial Candidate of the APC, Akinwunmi Ambode was accompanied by the Vice President Elect, Professor Yemi Osinbajo on a drive through of Alaba International Market earlier today

Source: http://www.nigerianeye.com/2015/04/pictures-professor-osinbajo-and.html

Inec has officially announced 19 of 37 states and FCT.

The results announced have been in sync with independently collated results as announced at the state level for most places.

As at the time of this report, only results from some Local govts in Edo, Yobe and Benue were not announced.

This is how the Total results are likely to go, since whatever comes out of Edo and Benue where APC may lose some of the ground gained is likely to be compensated by results from Yobe.


Source
http://www.nigerianeye.com/2015/03/2015-presidential-polls-buhari-leads.html

APC warns against any attempt to announce fake election results

The All Progressives Congress (APC) has warned against any attempt to tamper with the results of the elections that were concluded nationwide on Saturday, saying Nigerians have voted peacefully and massively and they know who they have voted for.

In a statement issued in Lagos on Sunday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said it has the authentic results from every polling unit where voting took place on Saturday, and will not accept anything contrary to those signed results.



It decried the dangerous kite now being flown by the PDP, through some of their paid media channels, seeking to appropriate unearned victories across the nation.

''We have always said we will accept the result of any free, fair and transparent elections. We stand by that avowal. However, what we will not accept - and which we are sure Nigerians themselves will reject - is any move to rewrite the results and thwart the will of the people under any guise. We will not accept that.

''We have heard of the desperate moves to cancel the results in areas where the APC has beaten the PDP embarrassingly. Nigerians will definitely not accept that,'' APC said.

The party said it is aware of the ongoing efforts to force Electoral Officers and Presiding Officers in Imo State, some of whom are being picked up by the military as we write, to rewrite the results of the
elections in the state.

''We have the results from every polling unit in Imo State and we know that we have won in over 80 per cent in the presidential election. So there must be no shenanigans,'' it warned.

APC also said the same attempts are being made in Sokoto, Enugu, Ekiti, Ondo, Lagos and other states, wondering why anyone will be seeking to reverse the results that are already settled.

''In the Nsukka Local Government Area, INEC officials, instead of collating results, handed over the exercise to PDP Nsukka zone to write. They holed up inside ADADA HOUSE (a Local Government guest house) to write results and change figures, and were provided with security by the police. APC candidates and agents were chased away. In collaboration with INEC, they refused to let the card readers function and no result sheets came to most polling booths.

''In Lagos, they have yet to announce the result of the Apapa Local Government which has been ready since yesterday, apparently in a move to manipulate the outcome. Those who voted will not agree with any attempt to steal their votes,'' the party warned.

Alhaji Lai Mohammed
National Publicity Secretary
All Progressives Congress (APC)
Lagos, March 29th 2015


Source.
http://www.nigerianeye.com/2015/03/apc-says-they-are-monitoring-all.html

The All Progressives Congress APC debuts a Reality TV Show tagged #HouseOfChange, Produced and DIrected by Kunle Afolayan award winning director of October 1.

Staring Prof. Yemi Osinbajo, Olamide, Nice, DJ Jimmy Jatt, Gbenga Adeyinka, Yomi Fash Lanso, Dammy Krane, Omojuwa and Kehinde Bankole.


The Show airs from 9-10PM on SilverbirdTV and on OGTV , OSBC and TVC and others

Welldone, Sit behind your computer and be inciting Violence. How will you ensure No Nigeria.

Coward!

nzeadachie:
ADVERT OO OR NO ADVERT OO, IT'S GOODLUCK OR NO NIGERIA, JIHADI BUHARI CAN NEVER RULE NIGERIA JUST WAIT AND SEE

The Vice presidential Candidate of the APC, Professor Yemi Osinbajo will be speaking on the Popular Channels TV show Sunrise Daily by 8am. Please Tune in.

He is the freaking President, if the kitchen is too Hot he should Leave...

iyke926:




GEJ no be Jesus Christ abeg. Just free that man...he is tryin, bro.

Yeah right!!

Independent Surveys Indeed.

The All Progressives Congress has tagged wednesday 25th March 2015, Green day for change.
Supporters are encouraged to wear a touch of green to show support for the Party's Presidential Campaign.