Dr Chris Ngige, Minister of Labour and productivity

By Joan Nwagwu

President Muhammadu Buhari has approved the immediate and indefinite suspension from Office of the Managing Director/Chief Executive of the Nigeria Social Insurance Trust Fund (NSITF), Mr Adebayo Somefun.

Sen Chris Ngige, Minister of Labour and Employment, in a statement by Charles Akpan of the Press and Public Relations in the ministry, named other officers suspended to include Jasper Ikedi-Azuatalam, Executive Director (ED), Finance and Investment, and Mrs Olukemi Nelson, ED, Operations.

Also suspended are Alhaji Tijani Darazo Sulaiman, ED, Administration, Mr Olusegun Olumide-Bashorun, General Manager, Administration/Human Resources/Maintenance, and Mr Lawan Tahir, General Manager, Finance.

Others asked to go are Mr Chris Esedebe, General Manager, Claims and Compensation, Mr Olodotun Adegbite, Deputy General Manager, Investment and Treasury Management, and Mr Emmanuel Enyinnaya-Sike, Deputy General Manager, Finance and Accounts.

The statement also named Mrs Olutoyin Arokoyo, Deputy General Manager/Acting Head, Legal, Ms. Dorathy Zajeme-Tukura, Deputy General Manager, Administration, and Mrs Victoria Ayantuga, Assistant General Manager, Internal Audit.

The minister said that their suspension from office arose from the preliminarily established prima facie infractions on the extant Financial Regulations and Procurement Act, and other acts of gross misconduct.

During the period of their suspension, the officers will face a Joint Board and Audit Investigative Panel that had been set up to look into the financial and procurement breaches, as well as gross misconduct in the NSITF from 2016 to date.

The gross misconduct has invariably put the contributions of stakeholders in a perilous state. The affected officers have also been directed to hand over to the most senior officers in their respective departments, the statement said.

It quoted Ngige as specifically directing that Dr Kelly Nwagha, General Manager. Health, Safety and Environment Department, to assume the position of Managing Director/Chief Executive Officer, being the most senior General Manager in the organisation.

It said that officers assuming the new positions would take charge from Monday, July 6, 2020, until further notice.

Ngige charged the Chairman of the Board, Mr Austin Enajemo Isire, to ensure that the investigative panel commenced work as soon as possible.

He also charged him to ensure that the Board facilitated the smooth running of the Fund by creating the enabling environment and all the necessary staff adjustments and movements, in order to guarantee that services by staff to the contributors were not affected. (NAN)

Source: NAN News

Lt.-Gen. Tukur Buratai

By Muftau Ogunyemi

The Chief of Army Staff, Lt.-Gen. Tukur Buratai, said the Nigerian Army will remain professional, apolitical and focused on its constitutional mandate.

Buratai made the pledge while commissioning some projects at the 32 Artillery Brigade, Owena Cantonment in Akure, Ondo State.

The News Agency of Nigeria (NAN) reports that four projects were commissioned at the cantonment, which included renovation and fencing of brigade headquarters and the guard house.

Others were 32 Artillery Brigade Medical Centre, the renovation of 3xCBQs and the ground breaking of the poultry farm owned by Owena Cantonment Barracks Investment Initiative Programme (BIIP).

Buratai, who was represented by Maj.-Gen. Anthony Omozoje, GOC, 2 Div. Ibadan, said that the Nigerian Army would not deviate from its core mandate as prescribed by the constitution.

He said that the Nigerian Army had reiterated its commitment to ensure that the country was free from any form of terrorist acts.

We have vowed to put more efforts to curtail any form of terrorism in the country by remaining professional, apolitical and focused on our constitutional mandate, he said.

Buratai said that the renovation of staff quarters, guard quarters and medical centre was to encourage the personnel and to uplift the standard of living of Nigerian Army personnel.

I wish to put it on record today that every barracks in Nigeria today is being impacted to uplift standard and improve infrastructure, Buratai said.

He appreciated Governors Oluwarotimi Akeredolu of Ondo and Kayode Fayemi of Ekiti for their support to the Nigerian Army and 32 Artillery Brigade.

Also speaking, Brig.-Gen. Zakar Abubakar, Commander 32 Artillery Brigade, said that the COAS approved N61.2 million for the purchase of state of the art equipment for the medical centre.

I appreciate your benevolent support to the welfare of the troops and remain indebted to your cause. This singular act has saved the brigade from avoidable deaths and hardship, he said.

Abubakar added that the command would empower 100 widows of victims of North-East insurrection that would be trained by the Small and Medium Enterprise Development Agency (SMEDAN).

To this end, a philanthropist, a friend of the barracks, Chief Bibopiri Ajube, has promised to finance the first phase.

As a take-off, 100 widows will be drawn from 32 Artillery Brigade, 60 from Owena Cantonment, 30 for Naquora Barracks and 10 for 322 Artillery Brigade, Benin.

The philanthropist, has approved the sum of N10million for the take off of the project. Today, each of the widow will be given N50,000 and N5 million will be used to commence the infrastructural development of poultry farm in the three barracks simultaneously, he said.

In his remarks, Chief Bibopiri Ajube said that he had been helping widows of deceased military personnel for almost 10 years, and chose to empower them because of the sacrifices their husbands made for Nigeria.

Ajube called on all the beneficiaries to use the money judiciously to boost their businesses.

Source: NAN News

By Oluwafunke Ishola/Florence Onuegbu

Lagos State Government on Thursday announced the recovery and discharge of 40 more Coronavirus patients, after they tested negative to the disease twice.

Gov. Babajide Sanwo-Olu said in a statement that those discharged included 38 Nigerians and two foreigners.

Good people of Lagos, today, 40 #COVID-19 Lagos patients; 17 females and 23 males, including two foreign nationals, were discharged from our Isolation facilities to reunite with the society.

The patients: 19 from Onikan, seven from Gbagada; three from Mainland Infectious Disease Hospital, Yaba; eight from Agidingbi and three from LUTH Isolation Centres, were discharged after full recovery and testing negative to COVID-19.

Lets continue to adhere strictly to #PhysicalDistancing and #handhygiene principles #ForACOVID19FreeLagos, Sanwo-Olu pleaded.

Source: NAN News

Fertiliser

By Cecilia Ijuo

The Federal Government has distributed 38,142 kilogramme of improved cashew seeds to Kogi farmers, to mitigate the effects of the COVID-19 pandemic.

Sabo Nanono, the Minister of Agriculture and Rural Development, made this known at the roll-out of inputs to farmers in Lokoja on Thursday.

The programme was organised by the Ministry of Agriculture and Rural Development, in collaboration with the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The ministry also distributed improved seeds of other priority crops like sesame, soybeans, rice, maize, wheat, cocoa and potatoes.

He said the inputs would be distributed through farmer associations, women and youth groups as well as cooperatives, to ensure the country did not experience food shortage as a result of the pandemic.

As you are aware, the restriction of movement of people, goods and services has had a negative effect on food production, income and livelihood of the smallholder farmers, who produce most of the food consumed in the country.

Therefore, supporting them with the much needed production inputs especially seeds, would enhance food production, create employment and enable them to recover quickly from the shock of the COVID-19 pandemic.

The support is to further make them self-reliant while ensuring more sustainable and resilient food system, he said.

According to Nanono, the support is with the following farm inputs: 38,142kg of improved cashew seeds to 3,798 cashew farmers and 27,000kg of certified sesame seeds to 5,400 sesame farmers.

Others are 50,000kg of soybeans seeds for distribution to soybeans farmers and 12,000 bundles of Orange Fleshed Sweet Potato (OFSP) for 1,200 potato farmers.

Equally, we are distributing 15,000 sachets of redforce, 3,000 sachets of glory crop protection, 580 litres of soil amender and 500 litres of organic fertiliser to potato farmers, he said.

The minister said that the distribution of the inputs in Kogi was fourth in the series of palliatives being given out, since the commencement of the programme across the country.

He said during the first roll-out of inputs in Kano, that the ministry, in collaboration with development partners, distributed certified seeds of sorghum, millet, cowpea and rice to 8,200 farmers in 13 states of the federation.

Nanono stated that at the second roll-out in Kaduna on June 8, the ministry supported rice farmers with 27,000 kg and 300,000 kg each of certified seeds of FARO 66.

The minister noted that 300,000 kg of Foundation Seeds of flood tolerant rice varieties of FARO 66

Dr Chikwe Ikekweazu NCDC Boss

The Nigeria Centre for Disease Control (NCDC) says it has not relaxed its guidelines on mass gathering in the coronavirus (COVID-19) protocol.

Dr Chikwe Ihekweazu, Director-General of the Centre, said this at the Presidential Task Force (PTF) media briefing on Thursday in Abuja.

We are on the verge of opening our flights, airports and we have relaxed intercity travel.

We know that we have family, loving people and that over the next few weeks, we will all start having this urge to go and visit our parents, our uncles and our aunts.

We may also restart the funeral activities that we have postponed for months, start the weddings, wine carryings, birthing, baptisms that we have postponed for months.

Yes, its important to do these things and the interstate travel will allow us to do this, but remember we havent relaxed the guidelines of mass gatherings, he said.

The DG said that as more people were infected across the world, it wasincreasingly obvious that transmission among younger people aged between 20 and 40driving the spread of thevirus.

He noted that as the country planned over the next few weeks or months, Nigerians have to remember that there arestill restrictions on mass gatherings.

Beyond that, Nigerians have to show their elderly citizens love andaffection by not exposing them to the virus as much as they possibly could.

For some people, the exposure is inevitable because of the nature of this virus, but we mustnt contribute to increasing the risk.

Looking through social media today, I saw a brilliant campaign in Edo state, titled our elders our pride.

For this to mean something for all of us, we have to put this into action.

The DG added that the NCDC waslooking forward to working with Nigerians and, through the title of the theme of thecampaign in Edo, Our Elders Our Pride, if it means something they could take it to heart.

He urged Nigerians to wear a mask, postpone travel, avoid mass gatherings and wash their hands.

Source: NAN News

Gov. Abdullahi Ganduje of Kano state.

By Muhammad Nur

Gov. Abdullahi Ganduje of Kano State has announced a total easing of the lockdown imposed on the state to check spread of the COVID-19.

Ganduje made the announcement on Thursday in Kano while briefing newsmen on the COVID-19 pandemic at Government House, Kano.

He said, however, that restriction of movement from 10 p.m. to 4 a.m. would continue.

The governor also directed civil servants on grade level 12 and above to resume work from July 6.

Civil servants from grade level 12 and abovecan return to work from 9 a.m. to 2 p.m. but must continue to practice social distancing, he said.

According to the governor, the law banning street begging and hawking is still in place.

He urged Kano State residents to wear masks when going out and to continue to adhere to social distancing in public places.

Source: NAN News

COVID-19

By Abujah Racheal
Nigeria on Wednesday recorded its new highest daily figure of 790 COVID-19 cases, bringing the total infections to 26, 484.

The Nigeria Centre for Disease Control (NCDC) made this known on its official twitter handle.

The NCDC said, as at July 1, Nigeria recorded 13 deaths.

The health agency said that no new state reported a case in the last 24 hours.

The NCDC also said that Nigeria reported a total of 603 deaths in 35 states and the FCT.

The NCDC said that Delta state reported the highest number of cases with 166 new cases while Lagos reported 120 new infections.

Others are Enugu-66, FCT-65, Edo-60, Ogun-43, Kano-41, Kaduna-39, Ondo-33, Rivers-32, Bayelsa-29, Katsina-21, Imo-20, Kwara-18. Oyo-11, Abia-10, Benue-6, Gombe-4, Yobe-2, Bauchi-2 and Kebbi-2.

The centre also said it has introduced an lIVR Self-Assessment Tool.

It said that Nigerians could use the opportunity to complete a COVID-19 self-assessment by dialing 01-700-6232 for an automated call-back if they suspect that them or a loved one may have been exposed to the virus.

NAN reports that the Virology Laboratory at Federal Medical Centre, Owo, Ondo State has been included in the National COVID-19 Molecular Laboratory Network.

This brings the total number of laboratories in the national network to 40.

Meanwhile, the Nigeria daily testing exceed 4,000 for the first time in 125 days,the NCDC exceeded its target and set a record on its daily tests to 4,205 as at June 30.

Source: NAN News

By Sumaila Ogbaje
The Chief of Army Staff (COAS), Lt.-Gen. Tukur Buratai, has solicited the support of traditional leaders in Zamfara to combat activities of bandits and other forms of criminalities in the North West geo political zone.

Buratai made the call when he paid a courtesy call on the Sarkin Katsinan Gusau, the Emir of Gusau, Alhaji Ibrahim Bello, in his Palace in Gusau on Wednesday.

He informed the Emir that he was in zamfara on operational tour of formations and units of 8 Division Nigerian Army to assess the level of their combat readiness in the reinvigorated efforts to combat banditry and associated insecurity in the zone.

Buratai said his visit to the palace was to register his respect and in furtherance of Nigerian Armys excellent civil military relations.

He added that the Nigerian Army was celebrating her 157 years of existence (Nigerian Army Day Celebration 2020) in the neighbouring state of Katsina to reinvigorate the fight against insecurity in the region.

According to him, the commencement of Exercise Sahel Sanity currently going on simultaneously in Kaduna, Katsina, Niger, Sokoto and Zamfara States was aimed at the final defeat of banditry and other forms of criminality.

He however solicited for the support of the traditional rulers by sensitising their people to cooperate with the security agencies by providing the necessary information to help in containing the lingering security challenges in the region and the country at large.

Responding, the Emir thanked the COAS for the visit and promised to give all the necessary support to the Nigerian Army and other security agencies where necessary in order for peace to reign in the zone.

He also prayed for the success of President Muhammadu Buharis government and for the peace and security of the nation.

Source: NAN News

By Perpetua Onuegbu
Mrs Adejoke Orelope-Adefulire, Senior Special Assistant to the President on Sustainable Development Goals (SSAP-SDGs), said that Nigeria was recording successes in the implementation of the SDGs.

At a virtual workshop on Nigeria Integrated National Financing Framework (INFF) on Thursday in Abuja, she said that stakeholders have contributed in no small measure towards these feats.

Orelope-Adefulire explained that INFF was a Nigerian initiative to be driven by the Federal Ministry of Finance, Budget and National Planning and the Office of the SSAP-SDGs.

She said that both technical and financial support would be coming from United Nations Development Project (UNDP), European Union (EU) and other stakeholders.

She added that Nigeria would present its second Voluntary National Review to the High Level Political Forum (HLPF) on July 10 through a virtual meeting at 4 p.m. local time, adding that all stakeholders are invited to be part of it.

She said that the INFF would strengthen commitment of policy makers and foster the commitment of development practitioners and captains of industry in the implementation of the SDGs.

At the virtual meeting, Dr Zainab Ahmed, Minister of Finance, Budget and National Planning, said that the ministry was working with relevant MDAs to ensure the implementation of key fiscal priorities with focus on improving revenue generation.

She added that the ministry was focused on optimising collections and targeted reform measures to ensure the necessary fiscal space for implementation of Government policies and the achievement of the SDGs.

The Minister noted that specific cross-sectoral programmes and projects aimed at achieving the SDGs had been incorporated into the national budgets and would be included in future budgeting frameworks.

Nigeria, like all other United Nations (UN) member countries is at a critical crossroads when it comes to addressing the financial gap for implementing the SDGs and ensuring resilient inclusive and sustainable growth.

The Development of INFF is crucial, particularly in the context of the response to COVID-19 pandemic, as it will support us in moving towards the Nigeria we want and the Nigeria that our citizens deserve, Ahmed said.

Stakeholders at the virtual meeting included the Minister of State, Budget and National Planning, Mr Clement Abba and the United Nations Resident and Humanitarian Coordinator in Nigeria, Mr Edward Kallon.

The participants pledged to support the course of the implementation of SDGs in Nigeria.

Source: NAN News

NASS Complex

By Emmanuel Afonne

A group of lawyers with the name Coalition of Public Interests Lawyers and Advocates (COPA), has advised the National Assembly (NASS) members not to indulge in actions capable of portraying them as usurpers of executive functions.

Mr Pelumi Olajengbesi, convener of COPA gave the advice in a statement following Tuesdays rowdy session as lawmakers and Festus Keyamo, Minister of State for Labour trade words over sharing of 774,000 employment slots.

Olajengbaesi while reacting to the development said that the session would have been had with professional decency, and cordiality extended to the Minister and Senior Advocate of Nigeria as against the raucous show exhibited by the lawmakers.

It is, however, apparent from yesterdays revelatory drama that the lawmakers are intent on usurping the powers of the executive as represented by the Honourable Minister through arm-twisting and by exerting control over the employment programme.

It is not in contention that legislators have and can exercise the right of review over executive actions or programmes; it is part and parcel of the checks and balance feature of our constitutional democracy.

The enabling provision of the constitution, to wit; Section 88, which so empowers the legislators to review programme such as the recruitment program, however, stops-short of enabling the legislature from exerting control over such matters.

Its part and role stops at censoring, querying or reviewing executive actions and does not empower them to usurp this roles or programmes even where in its wisdom the executive are not handling it quite well.

Simply put, the legislators have the right to ask questions, demand explanations, and or, make suggestions, but may not take charge of the execution of such programmes directly or through any delegated authority stemming from it.

In view of this, the attempt by the National Assembly through one of its committee to usurp executive power and exert itself improperly on the special federal recruitment exercise underway is truly deserving of public condemnation, Olajengbesi said.

He urged the lawmakers to toe the line of fair hearing based on democratic principles and values to guarantee natural justice.

Olajengbesi added: In consideration of this factor, any attempt aimed at muzzling Mr Festus Keyamo, SAN, as he goes about his ministerial power and function within the confines of the law must be promptly subdued.

Failure to subdue and defeat such brazen attempts opens the floodgates to habitual high-handedness and lawlessness in our administrative system, and this must not be allowed. (NAN)

Source: NAN News

Cellphone

By Hawa Lawal

The free e-learning portals for all students in primary and secondary schools following the closure of schools nationwide to prevent the spread of COVID-19 pandemic is a boost for cellular phone sellers in Abuja, the News Agency of Nigeria (NAN) survey reveals.

At the launching of the portals schoolgate.ng and mobileclassroom.com.ng. in Abuja Minister of State for Education Chukwuemeka Nwajiuba, said that all students in Nigeria had been granted free-access to e-learning.

The platforms are subscription-free for Nigerian students in primary and secondary levels during the period of this lockdown as necessitated by COVID-19 pandemic. E

Following this development, a cellular phone sellers at the GSM village, Abuja, Mr Saint Dozea, observed that sales of smart phones and other accessories have improved.

He said that as many schools, mostly primary schools in Nigerian, began pushing for online coaching, parents were encouraged to buy phones, laptops and other accessories to catch up with their learning.

Mrs Grace Aregbesola, a mother, told NAN that since the lockdown, she had bought four cell phone tablets to ease her childrens learning.

She said that the prices were on the increase, noting that the first two fairly used tablets she bought at N65, 000 is now selling for N80, 000 two weeks after.

Its crazy, my children will always take my tablet to press the buttons and disrupt my workings and I dont have any choice than to look for money and buy their own.

Aregbesola said that she had to buy at a high price due to the overriding importance of the wellbeing, health and safety of her children and for them to catch up with the standard of education.

She, however, expressed concerns that some students were living in homes that might not have access to Wi-Fi or limited access to internet and some parents could not afford the device to use for schoolwork.

Mr Geoffery Azuka, an engineer and also a parent, noted that during COVID-19, most parents had stopped their children from attending lesson classes and most children were now restricted to the use of mobile applications.

I have six children, it has not been so easy but to make them comply; I have to make adequate provision for their needs and it is so unfortunate that most of the traders at the GSM village were exploiting every individual, he said.

He said that in spite of spending so high on the purchase of learning equipment, schools were also charging high fees to provide alternative online learning to ensure continuity in teaching and learning.

I bough four tablets at N70,000 as against N60,000 each that I bought one week ago, there is sudden increase because many parents are patronising GSM village.

The patronage has made the traders to increase their price, for instance the TECNO phone Camon 11 that I bought for N80,000 two weeks ago is now N90,000, where do we go from here, he said.

Azuka said that lack of reduction in data tariffs and offline options on learning platforms had also made it very difficult for some parents with more than two children to cope.

I have to buy the tablets rather than share mine with them because my office period sometimes coincides with their learning period.

The online teaching is very beneficial and should be encouraged during the holiday but government must look into the operations and make it less-expensive by ensuring adequate power supply and reduction in data tariffs, he said.

However, in spite of the schools influence and apparent ability to deliver certain kinds of online learning, parents are alarmed by what they call the unrealistic cost of virtual education.

Mr Badmus Ogunwusi, a teacher in Abuja, said that the COVID-19 period had been a difficult time for schools, teachers, parents, young people and all those involved in education globally.

Ogunwusi said that he had hooked up to the online professional development courses and this had led him to buying tablets to cope with the training.

He said that many of the on line programme had made android mobile phones, laptops and palm tops to be more important now than ever and the prices were on the increase on a daily basis.

Also, Mr Alfred Akinoso, a mobile operator told NAN that most of the functionalities wouldnt be possible without optimum data and it was also good money to mobile operators.

The mobile communications business is showing profits increase during this COVID-19 outbreak compared to when there was no pandemic and the profit improvement is a result of the lockdown and the e-learning portals created by government for students, he said.(NAN)

Source: NAN News

Gabriel Suswam

By Kingsley Okoye

Sen. Gabriel Suswan (PDP-Benue) says the National Assembly directs the Electricity Distribution Companies (DisCos) not to increase electricity tariff because of the current economic challenges occasioned by COVID-19 pandemic across the country.

Suswan, Chairman, Senate Committee on Power, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday.

He said that the increase in the tariff had to stop for now even when it was obvious that an increase, given the provision of necessary distribution infrastructure in the electricity market, would help the sector to be solvent.

He noted that an increase in electricity tariff in this period would worsen the economic hardship faced by Nigerians, hence the intervention of the National Assembly to prevail on the DisCos to suspend the increase until first quarter of 2021.

Under a normal situation, increase in tariff increase will help the operators to meet their remittances 100 per cent and government will not need to subsidize.

Now government all over the globe are giving palliatives to their citizens; in America for instance, most of the people who fought for palliatives for not being employed receive some stipends weekly.

Now, here we have people who are unable to feed family because of the COVID-19 pandemic and DisCos is saying it will increase tariff at the same time; we are saying yes, cost reflective tariff is the way to go because we need the sector to be solvent, but the timing is not auspicious.

He also explained that the government had also reduced petrol pump price because it did not want to increase burden on Nigerians, observing that it would not make sense if DisCos increased electricity tariff.

In the interim, government will continue to subidize petrol pump price because that is the responsibility of government, no government will want a situation where their citizen would be overburdened with prices of goods.

So, that was why we stepped in and good enough with the decision we took, the president has agreed with us and said they should not activate the increase until certain things are in place, he explained.(NAN)

Source: NAN News

Zenith Bank tops in Nigeria by Tier-1 capital

By Chinyere Joel-Nwokeoma

Zenith Bank Plc has emerged as number one Bank in Nigeria by Tier-one Capital in the 2020 Top 1,000 World Bank Ranking, published by The Banker Magazine.

The bank, in a statement on Thursday in Lagos, said that it climbed a whopping 29 spots from 425 in 2019 to 386 in the 2020 global ranking of banks.

The statement noted that the bank retained its position as the number one Tier-one bank in Nigeria with Tier-one capital of 2.79 billion dollars.

According to the statement, this figure represented an increase of 16.1 per cent when compared with the 2.40 billion dollars achieved in the 2019 ranking.

It noted that the ranking published in July 2020 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on the 2019 year-end Tier-one capital of banks globally.

Commenting, Mr Ebenezer Onyeagwu, the banks Group Managing Director/Chief Executive, said that the ranking had attested to the banks market leadership.

Onyeagwu said the ranking was the outcome of a well-thought-out strategy of always delighting and creating value for its teeming customers through a broad range of superior product offerings, best-in-class service and top-of-the-range technology.

Tier-one capital describes the capital adequacy of a bank and it is the core measure of a banks financial strength from a regulators point of view, he stated.

Onyeagwu noted that the bank had clearly distinguished itself in the Nigerian financial services industry through superior quality service, unique customer experience and sound financial indices.

The bank, with a knack for setting the pace and raising benchmarks, is a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels, he said.

The bank, as a testament for its resilience and market leadership, announced a profit after tax of N208.8 billion for the financial year ended Dec. 31, 2019, achieving the feat as the first Nigerian bank to cross the N200 billion mark.

It also, for the first quarter ended March 31, posted gross earnings of N166.8 billion and profit before tax of N58.8 billion. (NAN)

Source: NAN News

Gov. Ben Ayade of Cross River.

By Christian Njoku

The Cross River Government has insisted that it has no COVID-19 case, saying that it has nothing to gain by hiding cases of infections in the state.

Gov. Ben Ayade made this disclosure while briefing journalists and members of the state COVID-19 Response Team at the Government House, Calabar on Thursday.

If you have the virus and pretend not to have it, you will only have mass deaths in your state, he said.

He lauded the Nigeria Centre for Disease Control (NCDC) for insisting that only Polymerase Chain Reaction (PCR) test can confirm a positive case of COVID-19 in spite of pressures from different quarters.

As a state, we were the first to lockdown our boundaries. Records have it that Cross River is the only state that invested over 100 vehicles for effective manning of its boundaries and we even went beyond that by producing facemasks, shields and other Personal Protective Equipment (PPE).

So for some people to doubt the credibility of our COVID-19 free status is to imply that all the efforts of the state were not noticed.

At this point, the state has been handed over to the Federal Government; all our boundaries are now opened, following the lifting of the ban on inter-state movement by the federal government.

Residents of the state must know that we no longer have control over our boundaries, we have surrendered to the supremacy of the federal governmentand opened our boundaries, Ayade said.

He added:Cross River that is COVID-19 free will now have an avalanche of cases, I see it coming, therefore, with this message, it means our response team would be back on the road because as long as our boundaries are opened, our eyes will be open.

So, as a resident of the state, if you think by easing lockdown, you are now safer, no, now you are more in danger, this is the time for you to commence a personal lockdown.

Ayade, however, thanked the Federal Ministry of Health and NCDC for being a great example, playing a professional and technical role and given a world class response to the COVID-19 pandemic in Nigeria.

Dr Betta Edu, Chairman of the state COVID-19 Response Team, thanked all the government appointees who came all out and helped in the fight against COVID-19 pandemic.

Edu also commended officials of the state Garment factory who were exceptional in the production of facemasks, shields and Personal Protective Equipments (PPE).

The News Agency of Nigeria (NAN) reports that the governor also gave a cash donation of N30 million to the state COVID-19 Response Team in appreciation of its efforts in the fight against the virus in the state. (NAN)

Source: NAN News

Gabriel Suswam

By Kingsley Okoye

Sen.Gabriel Suswan (PDP Benue) has advised Federal Government to purchase prepaid meters in bulk as a holder of 40 per cent equity in distribution chain to bridge metering gap in the electricity sector.

Suswan gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday while suggesting possible solution to challenge of poor power supply and distribution of prepaid meters by DisCos in the electricity market.

Suswan, who is the Chairman, Senate Committee on Power, also said that government could also decide to divest its equity in the distribution chain if it wanted.

It is another way out , if government wants to divest part of their equity holding, in this power, so they could introduce new monies into the entities.

Another way is for government , as part of their own obligation, holding 40 per cent, to buy mass meters and then put it before the DisCos and ask them to pay over a period of time.

In that way, government can purchase, say about six million meters, and this will ensure that at least every person is connected to the grid; if not all of them between 80 per cent and 90 per cent of them are metered.

If 90 per cent of people consuming electricity are metered, of course the sector will become solvent, because collection will become easy.

Why are they unable to collect, it is because there is infrastructural deficit which includes that of metering as well, so, once these things are put in place and power supply becomes efficient, you and I will not mind the increase in tariff, he said.

He said there was need for enumeration of people connected to the national grid and get them metered.

There are laws that have to be put in place, they need enumeration of people who are connected to the national grid, those people have to be metered, when you meter people you are sure of collection, all of these have not been done.

From Nigeria Electricity Regulatory Commission, statistics shows that 10 million people are connected to national grid, out of which only four million are metered.

So, how do you get the money if you say cost reflective tariff, because you have six million connected to the national grid that have yet to be metered, he said.(NAN)

Source: NAN News

PPPRA

By Nana Musa

Filling stations across the Federal Capital Territory (FCT) Abuja have started to sell petrol at N143 per litre, as announced by the Federal Government, with effect from July 1.

A survey conducted by the News Agency of Nigeria (NAN) on Thursday in Abuja indicated that major marketers at Wuse, Gwarimpa, Maitama, Wuye, Asokoro and Karmo had adjusted their pump to the new price.

Alhaji Suleiman Yakubu, National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria (IPMAN), told NAN that most filling stations had adopted the new price regime, while others would join in due course.

We support the government and its policy, as we also know the government has its citizens welfare at heart. The oil and gas business has been unstable since the pandemic started, Yakubu said.

A manager at a filling station, who pleaded anonymity, described the new price regime as a welcome development.

He said the station recorded some losses when the price of petrol was reduced by government, due to the fall in the price of crude at the international market and the outbreak of the coronavirus.

According to him, the increase in the price of petrol will help the growth of the nations economy.

A taxi driver, Mr Idris Bako, said that the new pricing of petrol was not good for their business, adding that commuters would have to pay more.

During this COVID-19, we carry one passenger at the front and two behind to maintain social distancebut now, the fares will have to increase, Bako said.

NAN reports that since April, the Petroleum Products Pricing Regulatory Agency (PPPRA) had continued to issue monthly pricing directive on premium motor spirit (PMS) to the marketers.

In June, there was a slight reduction as the price was fixed at N121.50 per litre, from N123.50 in May.

The July new price is N20.30 higher than the June price of N121.50 per litre. (NAN)

Source: NAN News

NSE

By Chinyere Joel-Nwokeoma

Uche Uwaleke, Professor of Finance and Capital Market, says the Nigerian Stock Exchange (NSE) will likely close 2020 in red, based on negative real GDP growth rate projections.

Uwaleke, of the Nasarawa State University, expressed the view in an interview with the News Agency of Nigeria (NAN) on Thursday.

He said that the likely outcome was against the backdrop of negative real GDP growth rate projections by the International Monetary Fund (IMF) and the World Bank occasioned by COVID-19.

The NSE All-Share Index is most likely to close the year in the red against the backdrop of negative real GDP growth rate projections by the IMF and the World Bank.

Despite this, I expect to see some bright spots, especially in sectors not severely affected by COVID-19, Uwaleke said.

He said telecommunication stocks would likely outperform the market because of peoples adaptation in the wake of coronavirus.

Uwaleke said that pharmaceutical stocks and insurance companies stocks would offer investors increased returns on their investments.

He cited pharmaceutical stocks such as Niemeth, currently benefitting from government stimulus packages, adding that insurance companies stocks are also usually sought after during periods of uncertainty, as insurance uptake rises for many.

Industrial stocks such as Dangote Cement may not disappoint, especially if the government faithfully implements the Economic Sustainability Plan with a lot of stimulus funds to the housing and construction sectors, Uwaleke said.

According to him, the global response to the negative impact of COVID-19 and how soon the world economy gets started will have an effect on the performance of the market.

A lot will depend on the global response to the negative impact of COVID-19 and how soon the world economy gets restarted, since foreign investors constitute a significant part of activities in the stock market.

Market performance will also depend on the level of both local and foreign investors confidence in the economy reflecting the vagaries in the international crude oil market, given that the economy of Nigeria is substantially powered by the oil sector, he said.

Uwaleke said domestic borrowing by the Federal Government would influence stock market performance generally in thesecond half of the year.

Another factor that will influence stock market performance in H2 2020 will be federal government domestic borrowing with the tendency of portfolio rebalancing in favour of FGN bonds being a safer asset class.

By and large, the performance will be mixed, but more on the bearish side.

Expectedly, any stock market appreciation will witness a decline almost on toe as investors quickly take profit, he said.

Uwaleke said that sell sentiments would likely dominate the rest of the year. (NAN

Source: NAN News

Gabriel Suswam

By Naomi Sharang

Chairman, Senate Committee on Power, Sen. Gabriel Suswam has said that lack of quality data was the basic and most fundamental problem in the power sector.

Suswam, in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday said that there was no data for planning to ensure adequate supply of electricity to citizens.

When you dont have data how do you plan. We have over 200 million and we are planning for two million.

We cant meet up so we need quality data with integrity. Not just people sitting in their rooms and extrapolatingon what is the data.

Lack of data in the power sector is a problem. Once you have data you can now plan and know how many people are on the national grid; how many people are metered and how many people are not metered so that you can meter them and then you can now know exact quality of power you are sending to them.

So we need to be on the same table to plan ourselves properly otherwise we cannot now say that it is okay we are generating 13, 000 megawatts for 200 million.

He said that part of the committees oversight function was to ensure efficientutilisation of funds appropriated to managers of the value chain in the power sector but however, regulating the agencies effectively was a task that needed to be handled by the National Assembly

The Nigerian Electricity Regulatory Commission (NERC) quote and unquote is suppose to be independent body to regulate the power sector.

But in all developing economies similar regulators have not had the independence that they should have and the reason been political.

Because when it comes to tariff, which is an issue in all developing economies, increase in tariff is what people resist vehemently and so NERC is not completely as independent as it is suppose to be. It has to ponder to the people who appoint them.

That is why to regulate the sector effectively will be difficult because there are interference, for instance, the National Assembly just interfered and is based on the political consequence of their action.

We as politicians look at the political consequence, they are looking at the economic consequence. And so if the polity is unstable of course the economy will not operate as well.

So it is difficult to have an independent regulator in the power sector in a developing economy, he said.(NAN)

Source: NAN News

Construction site of AKK gas pipeline project in Ajaokuta

By Edith Ike-Eboh

Residents of Ajaokuta in Kogi state have expressed joy on the construction of the Ajaokuta Kaduna Kano (AKK) gas pipeline project by the federal government.

Some of residents, who spoke to the News Agency of Nigeria (NAN) in Ajaokuta, said the project would bring about development and boost business in the community.

Mr Ahmad Abdulmumin, a trader said that the project was a laudable one but noted that indigenes must benefit from it.

We are happy that government found our place good to site the project; we will support whatever they are doing to make sure the project is not hindered.

We ask government to give our children jobs in the project because if many of our children join this project, they will make sure that nothing spoils it. We are happy and ready to support government, he said

Also, Mrs Sadiya Aliu, a fish seller said that since the contractor came on site, her business had increased.

I am happy that this project is here. I sell different types of fish, and since this work started, I have been getting plenty patronage from the site workers.

I prepare fish pepper soup and it is in high demand. I thank government for this project, it is helping my business, she said.

Also, Mr Emma Ogbaje another trader said that the community was happy seeing the presence of government around their area.

I hear that gas will be very cheap after the construction of this gas pipeline. I will be happy to start using gas to cook. I want the government to engage our youths in this project especially with security, he said.

Mr Emeka Okwuosa, Chairman Oilserv limited, contractor in charge of the project, told NAN that the company had robust programme for host communities of the various areas the pipeline would traverse.

Oilserv is 100 per cent an indeginous company currently employing 600 staff. With this AKK, probably we go to 1500 to 2000 at the peak of the investment matrix.

We will crank up our employment by more than a thousand and the major part of this 1000 will be indigenes of the areas where we pass, we have a clear programme to develop the areas where we will pass, he said .

NAN also reports that the 2.8 billion dollars gas pipeline project is a 40-inch x 614km pipeline that would originate from Ajaokuta, in Kogi and traverse Abuja (FCT), Niger, Kaduna and terminate at Kano.

It is expected to inject 2.2 billion standard cubic feet of gas per day to the domestic market. (NAN)

Source: NAN News

Engr. Emeka Okwuosa, Chairman, Oilserv Ltd

By Edith Ike-Eboh

Mr Emeka Okwuosa, Chairman Oilserv Ltd., says the Ajaokuta-Kaduna- Kano (AKK), gas pipeline project is commercially viable and can service its loan before the stipulated time frame.

Okwuosa in an interview with the News Agency of Nigeria (NAN) in Ajaokuta said thatthe project, worth 2.8 billion dollars, when concluded would bring about a lot of development in the country.

NAN reports that President Muhammadu Buhari on Tuesday virtually inaugurated the Ground Breaking Ceremony of the AKK gas pipeline project in Ajaokuta.

Oilserv, an indigenous Engineering, Procurement and Construction (EPC), Company won the contract to handle the project.

He said, This project is commercially viable, the facility (Loan) being taken is made to be repaid in 15 years but this project can pay itself in 10 years because this is a commercial venture.

We have injected a Chinese partner to build the Chinese content requirement but the Oilserv is the primary EPC Company, our experience is what will help to drive the process a lot.

We also have Oando in the consortium, Oando is Consortium partner, they are not an EPC company, we have worked together for a long time in other project where Oilserv is the EPC company.

He said that the project was not the type that would require government support to be completed adding that every process in gas generated revenue.

When you pipe this gas, you have gas flowing through. It goes to industries, power plants and there are tariffs to be paid even to transport this gas.

If you understand the mechanism of this gas transportation, for every cubic meter of gas that passes by there is an amount that is paid.

In addition to that, the gas itself that passes by would have to be paid for to be used. So, this is a commercially viable project not the kind of a project that government has to support to survive, Okwuosa said.

On challenges that could hinder the completion of the project he said that with the level of experience of the company it would be able to surmount any that might come along while executing the project.

Okwuosa named some of the challenges to include clearing of virgin forest, passing through rivers, breaking rocks and insecurity.

I will not say I have fears. Every project comes with its challenges.

There are challenges to do a project like this in a virgin forest, to go through rivers, rocks, to deal with security, these are challenges, but I dont have fears because we have the knowledge and experience to deal with it.

We are very ready to deliver the project and on time, he added.

The project will create jobs for Nigerians, especially the host community and a robust programme has been created for communities that the pipeline will traverse.

Oilserv is 100 per cent an indigenous company currently employing 600 people. With this AKK, probably we will go to 1500 to 2000 at the peak of the investment matrix.

We will crank up our employment by more than 1,000 and the major part of this 1,000 will be indigenes of the areas where we pass, we have a clear programme to develop the areas where we will pass, he said .

He commended President Muhammadu Buhari for the opportunity to work on the project adding that it was a clear sign that government was ready to support indigenous companies.

NAN also reports that the 2.8 billion dollars gas pipeline project is a 40-inch x 614km pipeline that would originate from Ajaokuta, in Kogi and traverse Abuja (FCT), Niger, Kaduna and terminate at Kano.

It is expected to inject 2.2 billion standard cubic feet of gas per day to the domestic market. (NAN)

Source: NAN News