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Showing posts from May, 2019

Southwest Airlines Was ‘Let Down’ by Boeing, Analyst Say

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  Southwest Airlines stock is trading down on Tuesday, following a downgrade by Evercore ISI, which lamented that the company is “a growth airline that has invested for growth, yet can’t grow. Southwest stock (ticker: LUV) is up 8.5% year to date, but has fallen nearly 5 percent in the past 12 months. Airlines in general have turned in a fairly mixed performance in 2019: Although no major players have managed to keep pace with the market, the level at which they’ve lagged as varied, in part due to their exposure to Boeing ’s (BA) MAX 737. That’s not surprising given that after March’s deadly Ethiopian Airlines crash, the aircraft has been out of service for months, which has caused big disruptions to airlines, like Southwest, that have fleets that are heavily reliant on the planes. Southwest has held up better than some, but is still feeling the pinch. That left the stock with a market-trailing year-to-date gain, despite raised dividends and rumors that Warren Buff

Fresh Trouble In APC As Deputy Chairman Attacks Oshiomhole, Asks Him to Resign

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Fresh crisis seems to have hit the All Progressives Congress (APC) as the Deputy National Chairman, North, Sen. Lawali Shuaibu, on Tuesday called on the party’s National Chairman, Adams Oshiomhole, to resign immediately. This order to vacate the office of the national chairman is not unconnected with the loss of Zamfara State by the APC to the opposition Peoples Democratic Party (PDP) following a ruling by the Supreme Court. In a letter dated May 27, 2019, which was addressed to Oshiomhole, Shuaibu held that in advanced democracies, people who fail to add value or build over and above what they met on assumption of duty show some civilised examples, “they honourably resign.” The six-page letter titled ‘APC: Its fortune and misfortune, time to act!’ added: “It is my honest opinion that your ability to ensure this party flourishes is deficient as you lack the necessary composure and you also don’t posses the capabilities and the requisite experience to run a politica

Banditry: Military’s Prepared to Protect Kano, Brigade Commander Assures Nigerians

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The Commander 3 Brigade, Nigerian Army, Brigadier-General Bamidele Ali Alabi, has said   the military is well prepared to protect Kano State against any form of banditry, kidnapping, armed robbery, cattle rustling and terrorism. The army boss stated this on Tuesday while receiving the executive members of the Correspondent Chapel, Kano State chapter of Nigerian Union of Journalists (NUJ) in his office at Bukavu Barracks.   According to him, the military is combat-ready to deal with   bandits perpetrating criminal activities in neighbouring states of Zamfara, Katsina, Kaduna and Sokoto, who are planning to infiltrate   Kano. “Kano State is not a place that you allow things to escalate. We operate by the rules of engagement. Already, the Chief of Army Staff has approved a joint-task force in Kano and Jigawa State, and we have been operating in synergy with sister security agencies. "We always allow the police to move in first; and when our services are neede

223 Companies Jostle for NNPC Natural Gas Liquids Bid

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No fewer than 223 companies have indicated interest for the Nigerian National Petroleum Corporation (NNPC) 2019-2021 natural gas liquids (NGLs) bid. The corporation opened 2019-2021 NGLs bid in Abuja on Tuesday, explaining that through a transparent competitive bidding and evaluation process, it intends to enlist companies with proven investments in gas utilisation, storage, distribution and marketing infrastructure. Group Managing Director, NNPC, Dr. Maikanti Kacalla Baru, in his welcome address, stated that the occasion marked the beginning of yet another landmark event in the corporation’s bid to maximise the value of the nation's natural gas liquid resources for the benefits of Nigerians and other stakeholders. Baru noted that as a corporation, "We have 223 companies competing and there are more local participants this time around. Our current pursuit is to continuously grow our domestic gas supply and utilisation while also maximising value from our

Osinbajo Differs With Emefiele On Hard Time, Says Nigeria Is Becoming Self Sufficient

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Head of the National Economic Team of Nigeria, Vice-President Yemi Osinbajo, has differed with the Central Bank Governor (CBN), Godwin Emefiele’s assertion that tough time awaits Nigerians. Speaking to journalists Tuesday after inaugurating a number of projects executed by the outgoing Government of Ibrahim Hassan Dankwambo in Gombe State, the vice-president said the government is looking out on many different issues and have set in place realistic and visible measures to ensure that Federal Government is able to diversify the economy away from oil. According to him, “Our special economic focus which we have in all the six geo-political zones starting from the Enyimba city as well as the Lagos Economic zone in Lekki among others, are industrial zones that we know will bring in the type of investments expected in industry and will of course produce significant number of jobs.” He said the same thing is happening in the agro-allied value chain and stressed that “of co

I Will Do Better in Second Tenure, Says Ortom

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Benue State Governor, Samuel Ortom, on Tuesday said he would improve on his performance in office as he prepares for second term in office. He said his first term was bedeviled by paucity of funds and the herdsmen attack on the state which he said would be a thing of the past as he is determined to take the state to a higher level in his second term. Ortom stated this while interacting with journalists in Makurdi to mark the end of his first tenure in office. According to him, "When we assumed office in 2015, we inherited some financial burden and some security challenges, and that was what prompted us to enact some laws. We inherited the issue of herdsmen and farmers’ crises and we decided to initiate an executive bill into a law. "These laws, particularly the anti-open grazing law, made us to face a lot of challenges from Miyetti Allah and other Fulani organisations which have a different agenda. It is a win-win law that must be obey in the land

Inability to Pass Water Resources Bill, My Greatest Regret, Says Minister

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The Minister of Water Resources, Suleiman Adamu, has revealed that his biggest regret during his tenure as minister was his inability to ensure the passage of the Water Resources Bill which is currently before the Senate. Adamu, who spoke at a valedictory press briefing in Abuja on Tuesday, also said he wished to have celebrated the enactment of the bill into law. He said:   "Unfortunately, this is not to be, as you would recall that while the bill had a smooth sail in the House of Representatives, it unfortunately became unnecessarily controversial in the Senate. It is my strong belief and hope that the ninth Senate will be more dispassionate about the intent, letter and spirit of the bill and accelerate its passage." "The benefits of the bill are for the development, management and efficient use of the nation’s water resources in line with global best practices." Adamu further said the dismal situation of water supply sanitation sector had

Nigerians, CSOs Commemorate National Day of Mourning Nationwide

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Ahead of the inauguration on Wednesday, Nigerians and over 100 civil society groups (CSOs) on Tuesday commemorated the ‘National Day of Mourning’ in remembrance of the thousands of lives lost to banditry, kidnapping, Boko Haram terrorism as well as farmers/herders’ clashes. With the tags for this year programme which are #NationalDayofMourning, #NigerianLivesMatter, #NotJustNumbers, #StopTheKillings, #WeAreAllWeHave the protesters took to the streets in different states in the country simultaneously to express their grievances about the incessant killings nationwide. From mass killings in Zamfara State, in Numan, Adamawa State; herdsmen massacre at Nkiedonwro in Plateau State; victims of electoral violence; Shiites massacre in Zaria, Kaduna State; herdsmen killing in Benue State and Boko Haram attack in the North-east region, they tasked the government to rise to the occasion and protect the lives of Nigerians. Championed by the Chairman of the

APC Administration Leaves N250bn Debt Behind, Bauchi Gov-elect Laments

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As Peoples Democratic Party (PDP) takes over the leadership of Bauchi State on Wednesday, the party has lamented that the outgoing All Progressives Congress (APC)-led administration is leaving behind a debt of N250 billion as well as other liabilities yet to be verified. The N250 billion debt profile left behind by the out-going administration of Governor Mohammed Abubakar included debt and loan, PDP said. The state Governor-elect, Bala Muhammad, who made the disclosure while receiving the report of the Senator Adamu Gumba-led Transition Committee on Tuesday at the Command Guest House in Bauchi, declared that his administration would probe the outgoing APC administration in order to recover all the money belonging to the state but was misappropriated. The governor-elect, who could not hide his disappointment over the issue, also lamented that the same administration which promulgated a law to recover misappropriated funds has at its twilight repealed same, decl

FG Sanctions 15-hour Traffic Diversion from Presidential Inauguration Venue

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The Presidential Inauguration Committee on Tuesday announced plan to divert traffic for 15 hours on some routes leading to the Eagle Square, where President Muhammadu Buhari and Vice President Yemi Osinbajo would be sworn in for a second term on Wednesday. The committee headed by Secretary to the Government of the Federation (SFG), Boss Mustapha, said the diversion would take effect from 12 midnight on Tuesday and 3 p.m. on Wednesday. According to the list, the routes are National Assembly; Aso Drive by DSS Headquarters- DPO; Mpape; NITEL Junction by Ahmadu Bello Way; FCDA by Finance Headquarters; Kur Mohammed by Benue House Plaza; Gana-Transcorp Hilton Hotel; FCDA by POWA; Goodluck Ebele Jonathan expressway (Intersection into Three Arms Zone) and Nigerian National Petroleum Corporation Tower. Others are Federal Secretariat Phase III under the bridge; behind Foreign Affairs under the bridge; Bayelsa House; Water Board/Deeper Life junction. The committee Tues

Borno Gov’s Steward Commits Suicide

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Suicide, which is fast becoming a common currency in Nigeria, on Tuesday visited the Borno State Government House as the official steward of the state Governor, Kashim Shettima, hung himself. It was a pitiable situation as the lifeless body of the steward, John Achagwa, dangled on a Neem tree at the back of the Presidential Lodge in the Government House in Maiduguri. The crowd which gathered to watch Achagwa lifeless was unprecedented as many had come to get a parting gift from Shettima who would vacate office tomorrow after eight years in office. The cause of the suicide remains a mystery as people could not put a finger to want might have made Achagwa to take his life. Some of his colleagues who spoke on the condition of anonymity told journalists that the deceased had maintained unusual quietness since he resumed work last Monday. One of them said: “He didn't utter a word since morning. He just kept to himself. We were together till about 2p.m. until

Boko Haram: VSF Inaugurates 147 Public Buildings in Yobe

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  Victims Support Fund (VSF) on Monday inaugurated 147 public buildings put at a total cost of N1.45 billion in Yobe State. This is part of efforts to reconstruct the Boko Haram affected state after various degrees of destruction from the decade-old crisis. Speaking at the inauguration of some of the projects in Potiskum, one of the largest towns in the troubled state, the Executive Director of VSF, Prof. Sunday Ochoche, said: “We have expended about N1.45 billion in building projects across Yobe State in our effort to rebuild the Northeast geopolitical zone after the destruction from the insurgency.” He disclosed that the projects were executed across 11 local government areas in the state. Ochoche said the renovated structures included hospitals, primary and secondary schools, local government secretariats, local education authority buildings, a local government lodge and deep water boreholes. He noted that the intervention was aimed at prom

Pollution: 60 Bayelsa Towns Present Spillage Evidence to Probe Panel

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The Bayelsa State Oil and Environmental Commission (BSOEC) set up to investigate the level of devastation by the exploration of oil in the state on Monday said it had received spillage evidence from at least 60 communities and groups in the state. The 10-man panel is headed Archbishop of York, Dr. John Sentamu, and was inaugurated by the state Governor, Seriake Dickson, in March this year. Archbishop Sentamu, in his remarks, decried the lack of political will on the part of the Nigerian Government in addressing the environmental devastation in the Niger Delta region, saying the time had come for total cleansing and remediation of the affected communities. "Change must happen even though the laws have not been effective and the issue of compensation has not been addressed. In some communities we visited, it looked like a bomb had been dropped but it was oil spillage. "The rest of the international community cannot just turn a

Sirika Inaugurates Maiduguri Airport Terminal Building …Says 134 projects out of 157 completed in four years

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The Minister of State for Aviation, Hadi Sirika, on Monday in Borno State inaugurated the rehabilitated Maiduguri International Airport building, which was abandoned four years ago. Sirika, during the inauguration, hinted that the President Muhammadu Buhari-led government, upon assumption of office, embarked on 157 projects   between 2015 and now, and have so far completed 134 of them hundred percent.   He revealed that the Maiduguri terminal building rehabilitation commenced in 2013 and was abandoned, but President Buhari told us that we should first complete all abandoned and uncompleted projects, and this is one of them. The minister stated that the project underscored the importance of Borno as a state and Northeast as a region, because being ravaged by insecurity, "we place importance to this airport which we have completed as well as other facilities to ensure safe and secure operations in this airport.” According to him, "So

Insecurity: Activate Traditional Self-defence System, Afenifere Tells South-west …Commends Obasanjo, others’ forthrightness

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Disturbed by the spate of insecurity characterised by killings and kidnappings in the Southwest, the pan-Yoruba socio-political group, Afenifere, on Monday called on the people to activate their traditional and communal self-defence system in the face of threats. The call was part of the communique issued at the end of the General Assembly of the organisation held at the Akure, Ondo State residence of its leader, Chief Reuben Fasoranti, which was attended by leaders from the South-west geo political zone. The communique was read by the National Publicity Secretary of the group, Yinka Odumakin, and entitled: ‘We must stop this genocide’. Afenifere said Yoruba land was under serious siege with the activities of the Fulani marauders in form of killings, kidnappings and rape. The socio-political group reiterated the warning that Nigeria should not wait till the matter degenerated to the level of another civil war. The group said: &q

2019 Poll: Kogi Gov Dumps His Deputy, Picks Chief of Staff

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  The Governor of Kogi State, Alhaji Yahaya Bello, may have finally dumped his deputy, Chief Simon Achuba, and allegedly picked his Chief of Staff, Mr. Edward Onoja, as running mate. It was gathered that his decision to pick his Chief of Staff was to ensure absolute loyalty as there appears to be cool war between the governor and his deputy. Media investigation revealed that posters and flayers of the governor and his Chief of Staff as his running mate littered streets of Lokoja indicating that Bello must have finally dumped Achuba. The deputy governor in the last two years have been absent from all government functions and has not been paid his salary and entitlements for over 24 months. Also, power supply and water were disconnected from the deputy governor's quarter by the governor. Source close to the Government House alleged that the choices of Onoja by the governor was part of the agreement before Bello took over the mantle

SEC Backs FG's Project ‘Light House’ to Boost Revenue

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The Securities and Exchange Commission (SEC) has pledged its cooperation with the Ministry of Finance on Project Light House, which its steering committee was inaugurated at the weekend by the Minister of Finance, Mrs. Zainab Ahmed, to help government's revenue drive. Project Light House is designed to dwell on data mining and analytics techniques to identify tax defaulters, establish their tax liabilities and send notifications to appropriate authorities for necessary action. Already, the initiative which aggregates data from multiple sources, including bank accounts, land registry records, company registration data, tax filings, Customs records and asset ownership records had as at June last year   identified a batch of over 130,000 high net worth individuals and companies whose tax records are not up to date due to detected underpayments. In pledging SEC's support to the initiative, its acting Director-General, Ms. Mary Uduk, also commended the minis

Aisha Attacks Buhari Govt Again, Insists N500bn SIP Failed In The North

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Wife of President Muhammadu Buhari, Aisha, at the weekend picked hole in the implementation of the federal government’s Social Investment Programmes (SIP), saying it has failed in the North. The SIPs are the N-Power, Conditional Cash Transfers, National Home-Grown School Feeding and Government Enterprise and Empowerment Programmes (GEEP). The first lady, while speaking at an interactive program for women at the State House, Abuja, lamented the inability of women in the North to benefit from the programme. Her lamentation came days after the Presidential Adviser on Social Investment, Mrs. Maryam Uwais, revealed that N470.8 billion was released by the Government for the programme. Uwais had claimed that the federal government, annually, budgets N500 billion for social investment. Aisha, speaking at the event said: “Concerning the N500 billion voted for SIP, that was part of 2015 campaigns where they promised to give out N10,000, feed pupils in primary schools and give N5

Ngige: FG, States Now Owe Arrears of New Minimum Wage *NUPENG, TUC risk clampdown over violation of law

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The Minister of Labour and Employment, Senator Chris Ngige, has said both the federal and state governments are already owing arrears of workers' salaries by the virtue of the N30,000 new Minimum Wage law which took effect from April 18, 2019. The minister also disclosed that the Trade Union Congress (TUC) and the National Union of Petroleum and Natural Gas Workers (NUPENG) risk proscription for breaching an important aspect of the Trade Unions Act which deals with rendering annual account on workers' check off dues. Speaking in an interview with journalists in Abujaat the weeked, Ngige said the federal government had constituted a committee with the task of working out   a new template that would help make the consequential adjustments needed to commence the payment of the N30,000 minimum wage. He also explained that negotiations would soon commence the actual template to be used for the payment of the new wage. According to Ngige, this is goi

Okorocha Asks NJC, FCT CJ to Ignore EFCC’s Petition against Judge

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  Imo State Governor, Chief Rochas Okorocha, has urged chairman of the National Judicial Council (NJC) and the Chief Judge of the Federal High Court (FHC) in Abuja to discountenance the petition written by the Economic and Financial Crimes Commission (EFCC) against Justice Taiwo Taiwo for lack of merit. In the said petition, EFCC had alleged professional misconduct and abuse of judicial powers against the judge for granting an order enforcing Okorocha’s fundamental human rights. Okorocha, in the letter to the NJC chairman and FHC Chief Judge titled: ‘Re:   EFCC Reports Justice Taiwo to NJC over Restraining Order on Okorocha, Saraki’, stated that “contrary to the impression being created by the EFCC through its chairman, the order granted by Justice Taiwo was made pursuant to two fundamental human rights suits that I filed before the court.” He added that the move against him by the EFCC “smacks of political vendetta and persecution.” The gover

Massive Onslaught On Traffic Robbery Suspects in Lagos

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The Surveillance Patrol Strategy introduced by the Lagos State Commissioner of Police, Zubairu Muazu, targeted at tackling the menace of Traffic Robbery in the state has recorded other significant achievements with the arrest of over 10 traffic robbery suspects over the weekend and recovery of firearms and ammunition. According to the statement issued by the state Police Public Relations Officer, DSP Bala Elkana, "On May 4, 2019, at about 5:30am in the morning, Surveillance Patrol Team from Ketu Police Station, foiled a robbery attempt at Kosofe bus stop. “The leader of the gang popularly known as Gabazine and two other members of the gang were arrested.   One Samsung phone snatched from a victim was recovered and handed over to the owner. On     May 25, 2019, the same surveillance team on undercover operation at the same spot arrested two traffic robbery suspects attempting to rob some unsuspecting road users. Two jack knives and a toy pistol were recovered. On th