2015-01-20 14:00
Abuja - Dr Ousmane Dore, the Country Director, African
Development Bank (AfDB), has predicted that the Nigerian economy will
grow by six per cent in 2015 in spite of the oil price shock.
Dore
said in Abuja that the economic prospect of the country was still good,
even though it was going to be affected by the oil price shock.
"The
country’s prospect is going to be affected downward by this major oil
price shock and we still expect growth to be in the range of 5.5 to 6
per cent this year notwithstanding the shock.
"How is the economy
going to be affected by this? It is clearly depends on how the
government is going to react to this shock. The first thing is to see if
this shock or decline is going to be transitory or permanent.
"To the extent that they are permanent, you need to do a major
adjustment to the budget because as you know, the budget is based on
benchmark price for oil.
"As you know today, the price is even
below the 65 dollars per barrel that the government has budgeted, it
means that the government would require a tough adjustment to counter
the impact of the decline on its revenue.
Dore said that should the government failed
to react positively to the oil price shock, the situation might lead to
large borrowing since the country’s economy was largely dependent on
oil export.
He said there was need for government to view whether
the price shock would be transitory or permanent, adding that budget
adjustment was necessary should the fall becomes permanent.
Dore
said a continuous fall in oil prices below the revised benchmark of 65
dollar per barrel could reduce total federally collected revenue of
which oil contributed over 70 per cent.
He said that if the gap
could not be filled by increasing non-oil sources of revenue, the
situation could also force the government to revise its Medium-Term
Expenditure Framework (MTEF).
According to him, this could mean
embarking on additional and expectedly painful spending cuts with
significant consequences on the future development prospects of the
country.
Tuesday, 20 January 2015
Ini Edo is not dating yet!
2015-01-20 14:00
Lagos - Reports have shown that Nollywood actress Ini Edo has not found new love, reports Pulse.ng.
Intimate pictures showing the Nollywood star in the arms of fellow star, Michael Godson, had gone viral on January 19.
The pictures had raised speculations that she had found a new lover.
Reports have clarified that the pictures were taken from the set of a new movie.
These reports come barely three months after her controversial divorce from Philip Ehiagwina.
The actress seems to have moved on with her life, purchasing two expensive cars to start the new year.
Read more at Pulse.ng
Lagos - Reports have shown that Nollywood actress Ini Edo has not found new love, reports Pulse.ng.
Intimate pictures showing the Nollywood star in the arms of fellow star, Michael Godson, had gone viral on January 19.
The pictures had raised speculations that she had found a new lover.
Reports have clarified that the pictures were taken from the set of a new movie.
These reports come barely three months after her controversial divorce from Philip Ehiagwina.
The actress seems to have moved on with her life, purchasing two expensive cars to start the new year.
Read more at Pulse.ng
6 firemen killed in Taiwan bowling alley fire
2015-01-20 14:00
Taipei - Six young firemen were killed on Tuesday as they battled a blaze engulfing a bowling alley in northern Taiwan, officials said.
The men, all in their 20s, were trapped and killed in a "sudden burst of flames", which caused the partial collapse of the building in Taoyuan county. Fire had broken out in the early hours of the morning, when the venue was shut.
Around 90 firefighters had been sent to the scene and two workers were rescued uninjured, the Taoyuan fire department said.
"There was a lot of smoke - we decided that [our firemen] should stop going in and requested our colleagues to pull out, but they did not have time to evacuate during a sudden burst of flames," said fire department official Shih Shou-yang.
Taoyuan mayor Cheng Wen-tsan told reporters that the cause of the fire was under investigation and expressed his sadness over the loss of the firemen.
"Great sadness. Six firemen unfortunately died in the line of duty," Cheng wrote on his Facebook page.
Taipei - Six young firemen were killed on Tuesday as they battled a blaze engulfing a bowling alley in northern Taiwan, officials said.
The men, all in their 20s, were trapped and killed in a "sudden burst of flames", which caused the partial collapse of the building in Taoyuan county. Fire had broken out in the early hours of the morning, when the venue was shut.
Around 90 firefighters had been sent to the scene and two workers were rescued uninjured, the Taoyuan fire department said.
"There was a lot of smoke - we decided that [our firemen] should stop going in and requested our colleagues to pull out, but they did not have time to evacuate during a sudden burst of flames," said fire department official Shih Shou-yang.
Taoyuan mayor Cheng Wen-tsan told reporters that the cause of the fire was under investigation and expressed his sadness over the loss of the firemen.
"Great sadness. Six firemen unfortunately died in the line of duty," Cheng wrote on his Facebook page.
Jonathan holds secret meeting with pastors
Abuja - The dust created with the emergence of Professor Yemi Osinbajo
as the running mate of the All progressives Congress presidential
candidate Muhammadu Buhari is yet to settle, report Premium Times.
Osinbajo’s emergence is still giving President Goodluck Jonathan and the Peoples Democratic Party (PDP) sleepless nights.
During a secret meeting with a number of Pentecostal pastors, Jonathan confessed and admitted that the emergence of Osinbajo as the Vice President of Buhari has destabilize his camp.
Jonathan told the pastors led by Bishop David Oyedepo of Winners Chapel, that everything was okay until APC picked Osinbajo
Osinbajo, a prominent cleric with the Redeemed Christian Church of God, law professor and Senior Advocate of Nigeria, SAN emerged APC's presidential running mate in December.
Read more at Premium Times
Osinbajo’s emergence is still giving President Goodluck Jonathan and the Peoples Democratic Party (PDP) sleepless nights.
During a secret meeting with a number of Pentecostal pastors, Jonathan confessed and admitted that the emergence of Osinbajo as the Vice President of Buhari has destabilize his camp.
Jonathan told the pastors led by Bishop David Oyedepo of Winners Chapel, that everything was okay until APC picked Osinbajo
Osinbajo, a prominent cleric with the Redeemed Christian Church of God, law professor and Senior Advocate of Nigeria, SAN emerged APC's presidential running mate in December.
Read more at Premium Times
Bodies of two kids found at a stream in Enugu
2015-01-20 14:00
Enugu - The Police in Enugu on Monday confirmed the death of two children at a stream located at New Government Reserved Area axis of Trans Ekulu layout in Enugu.
A statement by the Command’s Public Relation Officer, Ebere Amaraizu, said the two children, Emeka Nwafor (7) and Nmesoma Nwafor (4) were found dead inside the stream on January 13.
It said that the remains of the children had been deposited at a hospital for autopsy, as investigation continues.
In another development, the statement said that the Ninth Mile Police Division was also investigating the shooting of a hunter, Benjamin Igu of Umuokpala Egede area of Udi Local Government Area of the state.
It said that Igu alongside the suspect and other hunters had gone for hunting expedition when he was shot.
According to the police, the suspect, a 70-year-old man, claimed that he shot into the bush when he noticed movement thinking it was a wild animal.
The statement said that the victim had been hospitalised and responding to treatment.
Enugu - The Police in Enugu on Monday confirmed the death of two children at a stream located at New Government Reserved Area axis of Trans Ekulu layout in Enugu.
A statement by the Command’s Public Relation Officer, Ebere Amaraizu, said the two children, Emeka Nwafor (7) and Nmesoma Nwafor (4) were found dead inside the stream on January 13.
It said that the remains of the children had been deposited at a hospital for autopsy, as investigation continues.
In another development, the statement said that the Ninth Mile Police Division was also investigating the shooting of a hunter, Benjamin Igu of Umuokpala Egede area of Udi Local Government Area of the state.
It said that Igu alongside the suspect and other hunters had gone for hunting expedition when he was shot.
According to the police, the suspect, a 70-year-old man, claimed that he shot into the bush when he noticed movement thinking it was a wild animal.
The statement said that the victim had been hospitalised and responding to treatment.
'Governors, ministers under investigation for fraud'
015-01-20 12:44
Abuja - The Economic and Financial Crimes Commission (EFCC) has said
some serving and former governors, ministers, heads of service of the
federation, and federal lawmakers are being probed fro fraud, Punch reports.
The chairman of the anti-graft body, Ibrahim Lamorde made the disclosure while playing host to the Metropolitan Police Special Crime and Operations Unit led by Detective Chief Inspector Jonathan Benton in Abuja, on Monday.
He said the commission in conjunction with the United Kingdom Metropolitan Police were investigating the serving and former public office holders for money laundering and looting of public treasury.
He refused to disclose the identities and the total number of the public office holders on the watch list of the commission and the Met Police on the premise that the investigation was jointly carried out by the EFCC and the UK Police.
Read more at Punch
The chairman of the anti-graft body, Ibrahim Lamorde made the disclosure while playing host to the Metropolitan Police Special Crime and Operations Unit led by Detective Chief Inspector Jonathan Benton in Abuja, on Monday.
He said the commission in conjunction with the United Kingdom Metropolitan Police were investigating the serving and former public office holders for money laundering and looting of public treasury.
He refused to disclose the identities and the total number of the public office holders on the watch list of the commission and the Met Police on the premise that the investigation was jointly carried out by the EFCC and the UK Police.
Read more at Punch
Government seeks clemency for 12 sentenced Nigerians in Indonesia
2015-01-20 11:21
Abuja - The Federal Government on Monday appealed to the Indonesian government to show clemency for 12 Nigerians convicted of drug crimes in that country.
The Permanent Secretary, Ministry of Foreign Affairs, Danjuma Sheni, told newsmen after an audience with the acting Indonesian Ambassador, Eko Indiarto, who was invited for discussions.
The Nigerians, namely: Solomon Okafor and Daniels Enemuo, were executed by firing squad for drug crimes, while 12 others are currently on death row.
"Every country determines for herself the kind of action it takes. In the case of Nigerians and as you have just seen, we have protested very vehemently the execution and we are still looking at other options.
"That (recalling Ambassador) may be along the line, but we are looking at other options.
"I have just appealed to the government and people of Indonesia to show some clemency as we move forward with regards to the 12 other Nigerians still on death row in that country.
"We hope at the end of the day, there will be some form of clemency for our people and we do not hope, as of now, that it will have any significant impact on our relationship."
Sheni said Netherlands and Brazil had already recalled their ambassadors to Indonesia following the failure of the Indonesian government to heed their pleas against the execution.
He, however, said he summoned Indiar to to express Nigeria’s displeasure over the execution even after the personal intervention of President Goodluck Jonathan and the National Assembly.
The permanent secretary urged the Indonesian authorities to commute the death sentences to various jail terms.
Two women - one each from Indonesia and Vietnam, two Brazilians, and a Dutch were also executed along with the two Nigerians.
Meanwhile, the Federal Government has said it will continue to negotiate with the Indonesian authorities to reach agreement on a Prisoner Transfer Agreement.
According to it, the agreement may enable other convicted Nigerians to return home to serve their jail terms.
Abuja - The Federal Government on Monday appealed to the Indonesian government to show clemency for 12 Nigerians convicted of drug crimes in that country.
The Permanent Secretary, Ministry of Foreign Affairs, Danjuma Sheni, told newsmen after an audience with the acting Indonesian Ambassador, Eko Indiarto, who was invited for discussions.
The Nigerians, namely: Solomon Okafor and Daniels Enemuo, were executed by firing squad for drug crimes, while 12 others are currently on death row.
"Every country determines for herself the kind of action it takes. In the case of Nigerians and as you have just seen, we have protested very vehemently the execution and we are still looking at other options.
"I have just appealed to the government and people of Indonesia to show some clemency as we move forward with regards to the 12 other Nigerians still on death row in that country.
"We hope at the end of the day, there will be some form of clemency for our people and we do not hope, as of now, that it will have any significant impact on our relationship."
Sheni said Netherlands and Brazil had already recalled their ambassadors to Indonesia following the failure of the Indonesian government to heed their pleas against the execution.
He, however, said he summoned Indiar to to express Nigeria’s displeasure over the execution even after the personal intervention of President Goodluck Jonathan and the National Assembly.
The permanent secretary urged the Indonesian authorities to commute the death sentences to various jail terms.
Two women - one each from Indonesia and Vietnam, two Brazilians, and a Dutch were also executed along with the two Nigerians.
Meanwhile, the Federal Government has said it will continue to negotiate with the Indonesian authorities to reach agreement on a Prisoner Transfer Agreement.
According to it, the agreement may enable other convicted Nigerians to return home to serve their jail terms.
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