The Nation Newspaper

Author: The Nation

  • Ericsson earnings top forecast as 5G takes off

    By Agency Reporter

    Telecoms equipment maker Ericsson beat quarterly earnings expectations on Thursday and lifted its market forecast for this year and its sales target for 2020, saying demand for superfast 5G networks was taking off more quickly than expected.

    5G networks are at the centre of a brewing technology war between United States and China as they are expected to host critical functions from driverless vehicles to smart electric grids and military communications, underscoring their importance to national security.

    Washington has put Chinese supplier Huawei on a trade blacklist and led a worldwide campaign to persuade allies to ban the firm from their 5G networks, alleging its equipment could be used by Beijing for spying – which Huawei has repeatedly denied.

    Sweden’s Ericsson, which together with Finland’s Nokia and Huawei sells the bulk of radio access network equipment that is key for 5G mobile services, said it was now targeting sales of 230-240 billion Swedish crowns (23.5 to 24.5 billion dollars) in 2020, up from 210 to 220 billion previously.

    “We see a much faster pace of introduction of 5G than expected,” Ericsson CEO Borje Ekholm told a conference call, citing particular strength in the United States and South Korea.

    “Should we have expected this? To some extent we should have, but the reality is it’s happening even faster than we expected just a few months ago”.

    Ericsson shares jumped as much as 7.4 per cent to a three month high of 89.94 crowns, pulling up Nokia’s shares in their wake.

    The Swedish company’s adjusted third-quarter operating earnings rose to 6.5 billion crowns from 3.8 billion a year earlier, corresponding to an 11.4 per cent margin and beating the 5.2 billion mean forecast seen in a Refinitiv poll of analysts.

    Still, Ericsson kept its target for an operating margin of more than 10 per cent for 2020, citing short-term pressure from some contracts and higher initial costs for new 5G products.

    The company said it expected 5G deployments in China, where it has invested to gain market share, to start “near term”, adding they were likely to have “challenging margins” initially.

    It changed its 2022 margin target to 12-14 per cent from more than 12 per cent previously.

    Activist investor Cevian Capital, Ericsson’s largest owner by shares and third largest by votes, said the targets were conservative and the company could deliver more.

    Read Also: Destruction of telecoms facilities and national security

    “Borje (Ekholm) continues to set targets at a level where it’s basically impossible not to exceed them”, Cevian managing partner Christer Gardell told Reuters.

    Ericsson said it now expected the Radio Access Network (RAN) equipment market to grow by 5 per cent in 2019, up from July’s forecast for 3 per cent growth.

    Ericsson shares were up 6.7 per cent at 0840 GMT, the biggest rise by a European blue-chip stock.

    But they are still down 1 per cent since the firm’s second-quarter results in July, when it warned costs related to winning new contracts for its network business would likely hit profit margins in the second half of the year.

    Credit Suisse said in a research note that Ericsson’s third-quarter results were “better on all metrics”, while Carnegie said the update was “very strong”.

    While some analysts are expecting Ericsson to benefit from Huawei’s problems, Ekholm said the firm had still not seen any impact on sales from the turmoil surrounding its rival, which had instead made some customers more cautious about investing.

    “What it has created is uncertainty in the market and perhaps a certain worry amongst equipment suppliers,” he told Reuters. “So if we see anything, it’s some short-term headwind rather than something positive.”

  • Why I returned to school, by Ayade

    By Nsa Gill, Calabar
    Cross River Governor Ben Ayade has justified his decision to return to university to earn a Master’s degree in Law.

    His decision to return to school has generated mixed reactions at different quarters across the state.

    The state chairman of the leading opposition party in the state, the All Progressive Congress, Sir John Ochalla, slammed the governor’s decision saying, “any serious-minded Governor will not leave governance for school, and that the state had been handed over to an unserious person”.

    But, Ayade through his Special Adviser on Media and Publicity, Christian Ita, responded in a release with the heading, “Cross |River APC ignorant, jaded”.

    It reads: “This morning, I read in the newspapers that the Cross River State Chapter of the All Progressives Congress (APC) had taken issues with the state governor, Prof. Ben Ayade for returning to school to pursue a Master’s degree in Law.
    “The assertions credited to the APC chairman, John Ochala , are as laughable and pathetic as the party itself in the state. The party in the state is notorious for lies.”

    “ Ochala’s statement shows clearly that he has lost touch with reality or that he deliberately wants to misinform the people”.

    “At this point let me remind Ochala and the APC that, in 2017, one of the most influential Governors in APC, Mallam Nasir El’rufai, started a PhD programme in Philosophy in Governance and Policy Analysis at United Nations University-Merit, UNU-MERIT, Netherlands. Till date, El’rufai is still running.

    “It’s funny that a party like APC which prides itself as a major opposition cannot engage the Governor on governance issues but chooses to lie to score cheap political points.

    “If they didn’t see anything wrong with El’rufai returning to school in the faraway Netherlands, what then is wrong if Gov Ayade returns to school to add to his numerous degrees within Calabar, the state capital?”

    “The timing of Gov. Ayade’s decision to return to school is unequivocally perfect. Unlike APC members, the Governor, despite all the resources at his disposal didn’t choose any foreign University.

    Read Also: Between Ayade and his many critics

    “He decided to do it locally thereby boosting the reputation of Nigerian Universities at a time tertiary institutions in West Africa are under attack”.
    “Need I remind Ochala and the APC also that, the Chief Whip of the Senate and member of the APC, Senator Orji Uzor Kalu was an undergraduate student while serving as Abia State Governor.

    “For APC to lie to Cross Riverians that no serving Governor in the history of Nigeria has ever returned to school is unfortunate. Maybe, they just don’t have the guts to commend the Governor for patronizing Nigeria University.

    “Ignorantly, Ochala also lied that Gov. Ayade didn’t go to school while in the Senate. This is very shocking. Gov. Ayade was elected Senator in 2011 and later that year enrolled in Nigeria Law School, Abuja and was called to Barr in 2012.

    “Clearly, APC cannot withstand Gov. Ayade’s unprecedented quest for knowledge hence the lies. It’s instructive to let them know that Cross Riverians know them better now which is why the party was rejected overwhelming in the last general election”.

    “Their infantile attempt at opposition won’t distract Gov Ayade who is committed to making the state the nation’s industrial hub”.

  • Davido deposits N36m to purchase customised jewelry for Zlatan

    By Agency Reporter

    Nigerian singer, songwriter and record producer, David Adedeji Adeleke aka Davido, has deposited the sum of $100K (N36million) to purchase customised jewelry for Zlatan Ibile, Skibii and seven other members of his 30BG (30billion gang).
    The singer rewarded the Nigerian rapper, songwriter and dancer Omoniyi Temidayo Raphael aka Zlatan Ibile, who is also in the United States of America with a customized neck chain and 30 BG pendant.

    Zlatan got his gift from Davido after he attended the 40th birthday of the singer’s big brother and also met his dad, Dr Deji Adeleke.

    The delighted Zlatan took to his Instagram page @Zlatan Ibile to show gratitude to Davido.

    Davido also gifted his older brother an expensive Rolex wristwatch as his older brother, Ayoola Adeleke marked his 40th birthday.

    In the same light, Davido displayed a customized neck chain pendant with the inscription ‘Skibii’ which he bought for Nigerian popular singer, Abbey Elias, aka Skiibii Mayana.

    Read Also: Kaha hosts Davido, Michael Blackson at African Musik Festival

    The 30BG crew was also not left out as seven of the members, Davido’s 30BG, Asa Asika, Special Spesh, DJ Ecool, Tungee, Lati and Tycoon got the special 30BG championship ring.

    In August 2019, Davido purchased a new diamond finger ring known as the 30BG championship ring worth over N54million.

    Davido’s 30BG championship ring has 696 diamonds on it.

    The expensive jewelry was purchased from Zaheer of Icebox Diamond and Watches in Atlanta, U.S.

    Zaheer of Icebox diamond and watches in Atlanta disclosed that Davido’s customised ring was the ‘biggest championship ring he’s ever made with so many carats.’(NAN)

  • PDP makes case for suspended Edo APC council chairmen

    By Agency Reporter

    The PDP has criticized Gov. Godwin Obaseki of Edo for removing four council chairmen, elected on the platform of the APC from office.

    News Agency of Nigeria (NAN) reports that the four council chairmen were removed from office between Aug. 2 and Oct. 10 this year.

    The Chairman of the PDP in Edo, Chief Dan Orbih, said it was wrong and unconstitutional for the governor to remove anyone constitutionally elected by the people from office.

    Orbih was speaking on Wednesday in Benin after receiving an award bestowed on him by the Edo State Chapter of the Coalition of Registered Political Parties (CRPP).

    Represented by the Publicity Secretary of the PDP in Edo, Mr Chris Nehikhare, Orbih said it was disheartening and a rape of democracy for a democratically elected governor to remove an equally democratically elected Local Government Council chairman.

    The party stalwart was referring to the recent suspension of the council chairmen in Edo by the governor. All of the removed chairmen were elected on the platform of the ruling APC.

    The suspended council chairmen are Mr Aremiyau Momih of Etsako East, Mr Yakson Musa of Etsako West, Mr Eghe Ogbemudia of Egor and Mr Patrick Aguinede of Esan West.

    It will be recalled that Obaseki has similarly, sacked secretaries in the four councils, citing corruption and abuse of office by the sacked officials.

    Orbih, however, cautioned the governor to reverse the sacking, arguing that removing elected officials by another elected official was undemocratic and ultra vires.

    “These chairmen were not appointed by the governor but were elected by the people in their respective council areas.

    “The governor knows very well that for any action to be taken against the chairmen, such action must emanate from the Edo State House of Assembly after due investigation.

    Read Also: Makinde vs Adelabu: Security heightens as PDP, APC supporters besiege court

    “But the present action of the governor certainly points towards a fallout of the political differences between him and his predecessor.

    “They should not allow their internal crisis or differences to affect the people of Edo State.”

    The PDP chief also called on the governor to appreciate the fact that the Local Government system was recognised by the Nigerian Constitution.

    Orbih advised the governor to also desist from interfering in the financial independence of the councils and allow the chairmen to discharge the duties for which they were elected.

    The Chairmen of the CRPP in Edo, Dr Samson Isibor, described people considered for the award as people who had distinguished themselves in their chosen fields of endeavour.

    He said that the award was given to Orbih in recognition of his contributions to the advancement of democratic values through constructive criticisms and fighting executive corruption.

  • Tinubu, Mohammed, Abdulrazaq, Oyedepo, others for Omu-Aran Day 2019

    By Agency Reporter

    The National Leader of All Progressives Congress (APC), Asiwaju Bola Tinubu, will be the chief launcher at the upcoming Omu-Aran Day 2019 scheduled for Saturday Oct. 19 in Omu-Aran, Kwara.

    Maj.-Gen. Yemi Abidoye (rtd), the Chairman of the Central Planning Committee of the event, disclosed this on Wednesday during an interview with News Agency of Nigeria (NAN) in Omu-Aran, Irepodun Local Government area of Kwara.

    Abidoye listed the highlight of the event as the launching of a N500 million appeal fund toward the growth, progress and socio-economic development of the community.

    According to him, the appeal fund is geared toward fast tracking and accelerating the transformation of the community.

    He said that the community had witnessed tremendous expansion in both human population and infrastructure, hence the need for adequate planning and its sustainability.

    Abidoye said that the one-day event was being planned to generate funds, ideas and map out strategies to achieve the desired transformation of the community.

    “The Omu-Aran Day event is a platform intended to bring together sons and daughters of the community and it’s well-wishers toward actualising our development goals.

    “Government alone cannot shoulder the enormous needs of every community and locality in terms of basic and essential infrastructure.

    “Omu-Aran, as an emerging city, the head post of Igbomina and gateway to some neighbouring states, deserves the best in terms of development.

    “That is why we decided to take the bull by the horn as part of our own corporate social responsibility,” he said.

    Chief Bisi Adeyemi, the President, Omu-Aran Development Association (ODA), said arrangements for successful hosting of the event had been put in place.

    Read Also: Flavor rocks festive period in Owerri, ‘Bridge of Progress’ party

    He thanked the Omu-Aran traditional chiefs and the Olomu-in-Council for giving the needed support toward the hosting of the event.

    NAN gathered that Gov. Abdulrahman Abdulrazaq of Kwara will be the special guest of honour, while a UK-based philanthropist, Rev. Mother Esther Ajayi, will be the lady special guest of honour.

    The Minister of Information and Culture, Alhaji Lai Mohammed,will be the guest of honour, Senator Representing Kwara South Senatorial District, Sen. Lola Ashiru, will be the chairman, while an Ilorin-based industrialist, Hajia Bola Yusuf, will be the lady chairperson.

    Hon. Raheem Olawuyi, a member of House of Representing, representing Ekiti/Irepodun/Isin/ Oke-Ero Federal Constituency will be the chief host.

    Oba Abdulraheem Adeoti, the Olomu of Omu-Aran, is expected to be the royal father of the day, while Bishop David Oyedepo, President, Living Faith Church Worldwide, will be the spiritual father of the day.

  • Bayelsa 2019: We’re not convinced of INEC’s impartiality- Dickson

    By Mike Odiegwu, Yenagoa

    Bayelsa Governor Seriake Dickson on Wednesday said the Independent National Electoral Commission (INEC) has not given a convincing reassurance of its impartiality in the November 16 governorship election.

    Dickson alleged that INEC betrayed the confidence of the Bayelsa people by its collusion with security agencies to rig the last Presidential/National Assembly elections in parts of the state.

    A statement by the Chief Press Secretary to the Governor, Mr. Fidelis Soriwei, said that Dickson spoke in a live media chat in Yenagoa.

    The governor challenged INEC and other state institutions to exhibit a high sense of professionalism by conducting free, fair, credible and peaceful elections come November 16 in accordance with expectations.

    The governor regretted INEC declared alleged manipulated results in Nembe Bassambiri where security agencies allegedly colluded with thugs to chase away voters during the last election to concoct results.

    Dickson also called on the security agencies to resettle all internally displaced persons in Bassambiri, Nembe Local Government Area and Peremabiri in Southern Ijaw stressing the need to prevent the disenfranchisement òf voters in the upcoming election.

    He urged the leader of the opposition All Progressives Congress (APC) in the state and Minister of State for Petroleum Resources, Chief Timipre Sylva, to collaborate with the state government in ensuring peaceful elections rather than promoting political violence.

    He said: “The activities of INEC have not given confidence to Bayelsans. People were driven away from Nembe Bassambiri, and they allowed materials to go into volatile areas to declare manipulated results.

    “INEC should do what is right rather than colluding with undesirable elements to perpetrate crime.

    “The security agencies should do the right thing to return the displaced people of Nembe Bassambiri to their community so that they can vote in this election.

    “The leader of the APC, Chief Timipre Sylva, should renounce political violence. He should collaborate with me to ensure violence free polls. He should respect our people, he should fear God, and not take Bayelsans for granted.”

    “I condemn the reign òf brigandage, in the Bayelsa East Senatorial District. Those who carry out the crimes are not facing trial, and that could have a multiplier effect on other areas.”

    Dickson, who also described the APC as a party in distress, challenged the governorship candidates to hold healthy debates on issues of governance to enable the electorate assess their capabilities.

    He said that the decision of the leadership of the APC to give major appointments to defectors into their party could only point to a party without people and structures which is unprepared for election in the state.

    He advised Bayelsans to ignore the sponsored reports of defections into the APC stressing that the elections are not about leaders but the people.

    “I will support a debate between the two leading candidates. We are not arguing for and talking enough. Let them talk so that we can assess them. Running a Government is a serious thing. It is beyond campaign slogans,” he said.

    Read Also: APC accuses Dickson of slander, mudslinging

    The governor, who also commented on the Bayelsa International Airport, said the facility had been registered in the airspace with the technical requirements being concluded and would become operational the next two weeks.

    Describing the airport as one of the best in the country, he said the facility will commence operational flights to and from Lagos and Abuja.

    “The Bayelsa International Airport is going through the final stages. There are many technical issues to be handled. We should be through with the technical requirements very soon.

    “The airport is one of the best, the facilities are among the best in the country, the runway is 3.5 kilometers. We are rounding off the fencing and the final issues.”

    “The Yenagoa International Airport is registered in the airspace. We have entered into agreements with some air lines. Our plan is to operate flights to and from Lagos and Abuja.”

    On the issue of the minimum wage, Governor Dickson assured that his administration would not hesitate to implement any agreement reached on the issue it in line with what is applicable to other states.

  • We’ve recovered more than 200 properties in eight months – ICPC

    By Yusuf Alli, Managing Editor, Northern Operation

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it has recovered over 200 properties within eight months from suspected corrupt individuals.

    He said the assets, including plazas, bungalows and mansions, are either under interim forfeiture or final forfeiture.

    According to a statement by the spokesperson of the commission, Mrs. Rasheedat A, Okoduwa(mni), the disclosure was made by the Chairman of ICPC, Prof. Bolaji Owasanoye.

    Owasanoye spoke at a meeting with the management of the Nigerian Institute of Advanced Legal Studies (NIALS).

    He said ICPC was on course to recover additional 100 assets, to take the number of recovered properties to 300 before the end of the year.

    He said the commission was working with the Federal Ministry of Works, to map out the properties with a view to ascertaining their value and how best they can be put to use by the Federal Government upon final forfeiture.

    He said, “ICPC has recovered over 200 assets under my watch. We are working hard to get to 300 before the end of the year. Some of these properties are under interim forfeiture, while others are under final forfeiture.”

    Read Also: Finance minister to ICPC, others: ‘Recover AMCON’s N5trillion debt’

    Earlier, the Director General of NIALS, Professor Muhammed Ladan, pleaded with the commission to help the agency to secure a temporary office accommodation for its staff.

    Ladan while complaining about lack of office space for the over 317 staff of NIALS said the institute has been squatting at the Supreme Court Complex in Abuja for more than 20 years, and at the University of Lagos for about 40 years.

    He said the basement of the Supreme Court being occupied by over 38 staff of NIALS was not comfortable. He then urged ICPC to help procure one of the recovered properties as temporary office for the institute.

    The ICPC boss, in his response, gave the assurance that the Commission would work within the confines of the law to render any assistance it can to the institute in terms of temporary office accommodation.

    He advised NIALS to seek for ways to develop its permanent office.

  • Ace singer Victor AD releases new single, ‘Too Much Money’

    By Agency Reporter

    Fast-rising Nigerian singer, Victor Adere, popularly known by his stage name Victor AD, has dropped a new Afrobeat single for his teeming fans and music lovers.

    The youngster released the hit audio on popular streaming platform, YouTube on Wednesday.

    As the title implies, ‘Too Much Money’ emphasises the importance of having not just money legitimately but enough of it to cater for essential basic necessities.

    “What Money cannot do, too much money can do it, wetin DJ Cuppy money no fit do, Otedola money do am, wetin OBO money cannot do, Adeleke money do am…” the lyrics go in part.

    Victor AD, who grew up in Kirikiri area of Apapa, Lagos and in Warri, began his music career in 2014.

    The 26-year-old vocalist first musical release was “Jowo”, a hit that became Radio Continental’s popular theme song.

    Read Also: Why Nigerian musicians can’t win Grammy award-Artiste

    In 2017, Victor AD released “No Idea”, and the music video for the song was shot and directed by Cinema House Images Director, Dindu.

    He released the acclaimed single “Wetin We Gain” in 2018, a song that launched him into limelight, and the video for the song has reportedly garnered more than 6,000,000 million views on YouTube.

    Victor AD also featured Davido in his third single titled “Tire You”, and appeared on the O2 Arena stage for Davido’s 2019 concert UK.

    He has been nominated for several local and international awards, including Sound City MVP Listeners Choice Award (2018), Best Pop Single and Best New Act( 2018) and Ghana 3Music Awards as Best African Act 2019, among others.(NAN)

  • ‘Hit -and- run driver’ kills 6-year-old Ondo pupil

    By Damisi Ojo, Akure

    There was confusion in Ikaram,Akoko Northwest local government area of Ondo state on Wednesday when an Abuja- Lagos bound Sienna commercial bus belonging to Ever Ready Transport Company reportedly killed a pupil of Muslim Primary School in the town.

    According to a source, the six year-old pupil known as Sunday Promise died instantly while the driver of the bus with Registration No Edo 835 BEN drove off with the intention to escape.

    However, residents pursued the driver until he was caught at Agbaluku-Arigidi Akoko, a distance of about 15km from Ikaram the scene of the accident.

    The driver was apprehended and handed over to police while the vehicle was impounded.

    The Divisional Police Officer(DPO) for Okeagbe-Akoko, Johnson Akintola, a Superintendent of Police, confirmed the incident,adding that the driver of the bus was with them and investigation had commenced on the matter.

    Read Also: Eight mourners die in Yola-Numan road accident

    The Ikare unit of of Federal Road Safety Commission(FRSC)Yinka Akande attributed the incident to over-speeding particularly within the town.

    He cautioned motorists to always slow down whenever they are passing through streets within various towns.

    An Ikaram-Akoko community leader and the chairman of the school Parents Teachers Association,Alhaji Basiru Aminu, attributed the accident to recklessness on the part of the driver.

    He also described the attempt of the driver to run away as callous.

    Aminu appealed to motorists to install speed breakers on all areas around schools to reduce such ugly incidents.

  • JUST IN: FG deports seven Koreans for life

    By Blessing Olaifa, Abuja

    The Federal Government has deported seven Koreans for life, the Nigerian Immigration Service has said.

    The Comptroller General of Nigeria Immigration Service, Muhammad Babandede, carried out the deportation following the approval of the Minister of Interior, Ogbeni Rauf Aregbesola.

    A statement by the Public Relations Officer of Immigration, Sunday James gave the names of the Koreans as Jo Sun Phil, Hang Sung Chol, Che Chin Hyok, and Pak Yong Gon.

    Others: are Ri Yong Il, Ri Hak Su and Ri Tong Nam.

    Read Also: Another 173 deported from Libya

    The statement said they are all citizens of the Democratic People’s Republic of Korea (DPRK) deported from “Nigeria for life.”

    They were deported by the order of the Minister Of Interior based on the powers conferred on him by the Immigration Act 2015, the statement added.

    It noted: “They were deported to their country of origin on the available flight on the 15th October, 2019 through Nnamdi Azikiwe International Airport, Abuja.”