Showing posts from March, 2018

Nigeria to Earn $200bn from Lekki Seaport as FG Earmarks N90bn for Economic Zones

President Muhammadu Buhari has expressed commitment to a conducive business environment that would aid investments in the country even as it emerged that Nigeria is expected to rake in over $200 billion from the operations of the Lekki Deep seaport in Lagos State.
Speaking at the official commencement of the construction of the Lekki Deep seaport in Lagos on Thursday, Buhari said the project is in line with the Economic Recovery and Growth Plan (ERGP) whose aim is to support game-changing infrastructure projects.
The president, who was represented by Vice President Yemi Osinbajo, said when completed, the project would generate up to 170,000 direct and indirect jobs in the economy.
According to him, “The promoters of this project are targeting about 1.5 million 20-foot equivalent units container capacity annually, which we expect to grow to about 2.7 million and 4.7 million TEUs when the project operations commence. With this, the Lekki Deep seaport will become one of the largest deep…

Court Discharges Wife of Jonathan's Cousin, Stella Aziboala of Criminal Charges

*Orders husband, company to respond to two of the charges

Mrs Stella Aziboala, wife to a cousin of former President Goodluck Jonathan, was on Thursday discharged of all the nine count charges leveled against her, by the federal government.

Her husband, Robert Aziboala was however not as lucky as the the Federal High Court, Abuja trying them over corruption allegations ordered that he open his defence in two of the 9 count charge.

Trial judge, Justice Nnamdi Dimgba, in discharging Stella, in respect of counts 2 and 3, held that, "Just because Mr. Azibola is a spouse of the 2nd defendant, is not enough to charge her. Criminal liability is personal; it is not vicarious".

The Economic and Financial Crimes Commission had in 2016, preferred a 7-count charge against Aziboala, his wife,Stella and their company,One Plus Holding Ltd, over an allegation that they received $40m contract from the embattled former National Security Adviser, Col Sambo Dasuki.

The prosecution closed its …

Senate Rejects Kaduna's $350m Foreign Loan Request


Plateau PDP Elders Back Danjuma’s Call for Self-defence

Elders’ forum of the Plateau Central Peoples Democratic Party (PDP) on Thursday thrown its weight behind the call by General Theophilus Danjuma (rtd) for self-defence in the face of incessant attacks and killings by suspected Fulani herdsmen, saying such was not a call to anarchy because the Nigerian constitution provides for self-defence.
Addressing a press conference in Jos, Chairman of the forum, Chief John Mankilik, who was flanked by other members of the forum, said: “We totally agree with Retired General Danjuma as he spoke the minds of the bewildered people of Nigeria to the menace of the Fulani herdsmen.”
The forum observed that “a trend seems to emerge in the Middle Belt states of Nigeria, such that there is a correlation between President Muhammadu Buhari’s visit and bloodshed during such visits. And we are concerned that if this is the change Nigeria bargained for?
“In Plateau State, our heritage is betrayed, our patrimony is ambushed, our future is compromised, our land i…

President Buhari in Lagos For Two-Day Working Visit

President Muhammadu Buhari has arrived in Lagos State on a two-day working visit. The President was received on Thursday morning by the state governor, Akinwunmi Ambode, as well as the Minister of Information and Culture, Lai Mohammed, among other government officials. On his arrival, he would inaugurate the Ikeja Bus Terminal which is expected to commute more than 100,000 residents across 23 bus routes in the state. He is also expected to attend the official flag-off ceremony for the construction of the Lekki Deep Sea Port project and inspect the ongoing construction works at the Eko Atlantic City, Victoria Island. The President is also scheduled to attend a colloquium organised to mark the 66th Birthday of the National Leader of the All Progressives Congress (APC), Bola Tinubu. In an earlier statement, the state government announced Thursday a work-free day in order to have a hitch free movement and reduce traffic.

PDP Apologises To Nigerians, Begs For Another Chance

The Peoples Democratic Party (PDP) on Monday begged Nigerians to forgive it for the mistakes it made while the party was in power prior to the 2015 general elections. Giving a keynote speech on Monday, at an event in Abuja with the theme: Nation-building: Resetting The Agenda, National Chairman of the party, Uche Secondus, admitted that although the party did its best while in government, it was not void of mistakes. He added that the ability to admit one’s mistakes is key to moving forward as he appealed to Nigerians to put all the party’s wrongs behind and support it in the coming elections. “I hereby admit that the People’s Democratic Party made many mistakes and it is human, we are not spirits,” he said. “The ability to admit is a key for moving forward, it is a key for learning. We admit that we have made several mistakes. We also admit that by the grace of God, we have passed through all our challenges, with experience that no other party can boast of. “Consequently, we were ro…

2019: Atiku Launches 60 Seconds Worldwide Media Campaign

Inabali Media has launched an independent but specialized global campaign on behalf of former vice President, Atiku Abubakar, ahead of the 2019 presidential elections. Speaking to a team of select media organizations at the launch, CEO of Inabali, Phrank Shaibu, declared that the time had come for Nigerians to know the ‘real’ Atiku. He said these include the leadership embodied by the former Vice-President and qualities that saw him grow into a remarkable entrepreneur, father, husband, Africa’s most powerful Vice-President, and an astute politician. “The Wazirin Adamawa has not just spent time seeking the highest office in the land,” he said. “The difference between him and others in the pack, including but not limited to the incumbent is that Atiku has spent all of this time updating his knowledge base and upgrading his skill set. “He understands the economic trends, he knows about security issues, he has been a part of the solution process in the educational sector, he speaks the l…

Morocco Top Ranked Investment Destination in Africa For 2017

Quantum Global Research Lab releases new 2018 Africa Investment IndexTop five investment destinations attracted a combined net FDI of $12.8 bn in 2016
Morocco is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2018 (AII) by Quantum Global’s  independent research arm, Quantum Global Research Lab.

According to the AII, Morocco ranks first on the Index based on its increasing solid economic growth, strategic geographic positioning, increased foreign direct investment, external debt levels, social capital factors and overall favourable business environment.

Prof. Mthuli Ncube, Managing Director, Quantum Global Research Lab commented:

“In spite of the improvements to oil production and prices, African economies are turning their attention towards diversification to stimulate industrial development, and to attract investments in non-oil strategic sectors. Morocco has been consistent in attracting an inward flow of …

Middle East Tensions Support Crude Oil Price at $70 Per Barrel

Crude oil prices slipped slightly on Monday but a rebound in stock market and the escalating Saudi Arabia – Iran tensions capped the losses and supported Brent crude futures at over $70 per barrel.
Concerns of a looming trade dispute between the United States and China had also weighed on global markets.
Global stocks came off six-week low on optimism that the United States and China are set to begin trade talks, easing fears about a trade war between the world’s two largest economies.
Brent crude futures traded at $70.23 per barrel, while the West Texas Intermediate (WTI) crude futures traded at $65.63.
United States President Donald Trump last week signed a memorandum that could impose tariffs on up to $60 billion of imports from China.
The market also found support from rising Middle East tensions. Reuters reported that Saudi air defences shot down seven ballistic missiles fired by Yemen’s Iran-aligned Houthi militia on Sunday, some of which targeted Saudi capital Riyadh. Beyond trade con…

Ohanaeze Youths Align With Danjuma, Vow to Protect Igbo Communities

In a direct response to the recent call by the former Defence Minister, General Theophilus Danjuma (rtd), for Nigerians to defend themselves against killer herdsmen, the Ohanaeze Ndigbo Youth Council (OYC) on Monday asked youths in the Southeast to form security rings to guide and protect their communities and farmlands. The group's President, Mazi Okechukwu Isiguzoro, in a statement in Enugu, said Danjuma’s stance had further affirmed an earlier call by the Ohanaeze youths to respond to any further unprovoked attack by killer herdsmen. Danjuma had recently asked Nigerians to use whatever means at their disposal to defend themselves against killers, accusing the military of alleged collusion. According to him, “We hereby tell Igbo youths to form security rings to guide and protect their communities and farmlands, and deal decisively with anybody destroying their farmlands in form of cow grazing and or bearing arms but not known as a licenced security person. 
“We warn that nob…