Tag: cut

  • Group moves to cut capital flight

    Group moves to cut capital flight

    The assembling and manufacturing of scientific instruments, laboratory equipments, chemicals, and furniture would help in reducing capital flights, and push more funds to the economy, President, Scientific Product Association of Nigeria (SPAN), Mr. Julius Famoriyo, has said.

    Speaking during group’s council meeting in Lagos, he said plans are underway to start the assembling of scientific products in the country which would reduce importation of such products and boost economic development.

    He said the association is collaborating with manufacturers of scientific products in Germany and other developed economies to make the products available to local consumers.

    Famoriyo said, such product availability, would be boosted by the upcoming trade exhibition programme holding in Germany from June 15 to 17, under the support of Spectaris, a German high-technology association and the Ministry of Trade in Germany.

    He said this year’s edition of the scientific products fair in Germany, is the biggest in the world, and would provide opportunities for the SPAN members to network, enhance members knowledge local products assembly that meets international standards.

    Famoriyo said: ‘’Through the fair, local marketers of scientific products would meet manufacturers abroad, fashion out ways of developing components, and manufacturing them in the country, which is a major  plus for SPAN’’.

    He said Spectaris, founded in 1881 is based in Berlin and has about 400 members in four branches, namely Photonics and Precision Technologies, Medical technologies, Analytical and Laboratory Technologies and Consumer optics. The SPAN belongs to the Analytical and Laboratory technologies where there are 80 companies.

    On whether government delegation from Nigeria will be at the fair, SPAN Treasurer, Mr Dapo Sonola said the recent change in government will not permit it but they are hoping that the new government would be actively involved in the scientific products industry.

  • Fuel price cut

    •When will kerosene and diesel prices too come down to reflect the new reality?

    Nothing better illustrates the profound disconnect between citizens and the Jonathan administration than the brouhaha over the margin of reduction in the pump price of petrol in the aftermath of the global slump in oil prices. After weeks of strident calls for price reduction, Minister of Petroleum, Diezani Alison-Madueke, would finally announce a N10 cut from N97 to N87 on a litre of petrol on January 18.

    A day after, the Petroleum Products Pricing Regulatory Agency, PPPRA’s executive secretary, Farouk Ahmed, would give a breakdown of how the new price was arrived at. He gave the landing cost of petrol as at the close of business on Friday, January 16 as N74.35 per litre. With the approved distribution margin unchanged at N15.49 per litre, he gave the new market price as N89.84 per litre, leaving N2.84 per litre as subsidy on the new pump price.

    If we expected the petroleum minister and the petroleum price regulator, PPPRA to touch on the pump prices of domestic kerosene and industrial fuel – diesel, nothing of the sort came forth. Indeed, neither the minister nor the PPPRA boss said anything about kerosene price which, like petrol, is supposed to be regulated at N50 per litre but actually sells for anything between N120 to N150 in the open market. As for diesel, mostly used by manufacturers and businesses to power their operations, although its price is officially deregulated, in reality, the price is dictated, not so much by any market fundamentals, but by a powerful cartel that willy-nilly has the end-users at their mercy.

    The big question here is why the Federal Government would accept the basis for the discount on petrol price on one hand, while denying the same basis for kerosene and diesel on the other? The answer is to be found in the grotesque, laisez faire environment of fuel pricing which the Federal Government has promoted and sustained over the years, all in the name of deregulation. Of course, in removing N10 off the price of petrol – being extremely price-sensitive – the Federal Government merely moved, albeit wisely, to take the winds off potential agitations in the wake of the unceasing demands for price cuts.

    Is the measly N10 discount the best the Federal Government can offer? First, we know that crude oil prices have tumbled by more than 60 percent over the last six months. The other known fact is that the Central Bank of Nigeria (CBN) has devalued the naira by some 20 percent in the last few weeks. Whereas the former would ordinarily have translated to lower landing costs, the latter would more than guarantee that products cost would never come down! Here, it seems so easy to appreciate the bind that the Federal Government has thrown the country in the event of its failure to terminate the current regime of fuel importation.

    We must say that we consider the argument by labour and some notable trade associations in favour of a return to the old price of N65 per litre persuasive. An offer of a paltry 10 percent discount only on petrol price is at best tokenistic. How about the Federal Government seeking to make a fetish of the PPPRA template also feigning ignorance of its make-up? That, to be sure, must be galling.

    Of course we know what the template, directly linked to the current wholesale reliance on fuel imports, contains. Apart from the Cost and Freight (C&F) values which are subject to foreign exchange fluctuations, the other elements have the trappings of the rentier economy which the downstream sector is fabulously known for. Domestic sufficiency in products refining, aside insulating the economy from the vagaries of currency movements, would appear the best strategy to sound the death knell of that rentier segment. That route, unfortunately, is what the Federal Government seems least prepared to take at this time, or ever.

  • ITF to cut down unemployment rate by 20%

    The Industrial Training Fund, ITF, has revealed on-going plans to slash the current rate of unemployment in the country which currently stands at about 23.9 per cent to around 3.5 per cent by training two million youths yearly under various strategic and collaborative platforms.

    The agency’s objective was disclosed to the media by its Director General, Dr. Juliet Chukkas Onaeko, in Lagos, where she noted that new strategies have been adopted to help deliver the agency’s mandate of generating an adequate pool of indigenous trained manpower to drive the nation’s economy.

    Onaeko pointed out that a situation where expatriates were invited to take up indigenous job positions because Nigerians lacked the requisite skills for those available jobs has become unacceptable and ITF was determined to bring an end to the negative trend.

    “We will first ascertain the specific gaps in the various sectors of industry to help us achieve 100 per cent job security for trainees. A lot of companies complain that our citizens lack requisite skills to be employed in their establishments we want to train and produce people who can fill these positions and at home and outside the country,” she said.

    According to her, Nigeria with a population of over 160 million basically made up of youths can afford to export professional labour in the soft skills sector after filling the available positions in existing industries in the country, however, for that to happen they must be trained, certified and equipped with relevant industrial and vocational skills.

    “With our universities graduating over one million youths every year, some of whom find it difficult to fit into the soft skills sector where most job opportunities are available, we have decided to provide the platform to further equip them with industry specific skills in collaboration with indigenous firms and international training partners to reduce the rate of unemployment to 3.5 per cent from where it is currently,” she said.

  • Warri Wolves cut Bazuaye’s salary

    Warri Wolves cut Bazuaye’s salary

    Former Flying Eagles and U-23 player, Daddy Bazuaye, who was recruited by Warri Wolves at the beginning of the season, has become the latest player to be issued a warning following his below performance and as a result of this, his salary and cumulative wages have  been reduced to 50%.

    A statement by the Media Manager of the Club, Moses Etu revealed that the Club has warned him to sit up or have his contract terminated.

    “The club had earlier on warned five of their players and Daddy Bazuaye is the sixth person to be warned to be committed to the course he has chosen. At the commencement of the season, much was expected of him but unfortunately, he has not been able to justify the confidence the management have for him. He is, therefore, advised to wake up and help the club as it is expected”.

  • World Bank, AfDB: African conflicts may cut  foreign investments

    World Bank, AfDB: African conflicts may cut foreign investments

    THE spate of bombings in Nigeria and Kenya is sparking concern that investors may begin to shy away from the continent unless the violence eases, the African Development Bank (AfDB) and World Bank have said.

    While Standard Chartered Plc Chief Executive Officer for Africa, Diana Layfield, said the violence won’t halt the bank’s expansion plans, industries, as tourism are already feeling the impact.

    Makhtar Diop, the World Bank’s Vice President for Africa Region, said at the African Development Bank’s yearly meeting in the Rwandan capital, Kigali.

    “Conflicts in Africa are having an impact on investment in some countries, particularly in the tourism sector. These events are slowing down economic growth, with infrastructure being destroyed and people being displaced,” Diop said in an interview during the AfDB meeting, at the weekend.

    Tourist arrivals in Kenya fell by almost a fifth last year as the country was hit by a series of bombings, including an assault by the Somali militant group al-Shabaab on the Westgate Mall in Nairobi that killed at least 67 people. Tourism is Kenya’s second-biggest source of foreign currency.

    About 90 people were killed in bombings in Abuja, on April 14 and May 1 that were claimed by Boko Haram, the Islamist group that kidnapped more than 200 schoolgirls last month. Nairobi, was rocked by two attacks this month in which at least 15 people died.

    While retail investors factor in increased political risks, there seems to be no change in appetite from companies with long-term commitments in industries such as infrastructure, Alastair Herbertson, an investment specialist at Cape Town-based Investec Asset Management, said.

    Standard Chartered is planning to open 13 new branches in Nigeria, Ghana, Kenya and Zambia this year, Layfield said in an interview.

    “Our belief in the medium-term and long-term prospects of those economies isn’t diminished,” she said. “We still remain incredibly focused on growing our presence in both Nigeria and Kenya.”

    Companies looking to make their first commitments in Africa may be particularly sensitive to the violence, said Stuart Culverhouse, chief economist of Exotix Partners LLP in London, said on May 21.

    “For new investors that have never looked at Africa before, this probably just reinforces their prejudices,” Culverhouse said. “I think countries have to work so much harder to keep that international interest alive.”

    Lingering tensions and political instability “could affect investors’ willingness to undertake planned projects” in Africa, the AfDB said in its African Economic Outlook released last week.

    While the security problems in Nigeria and Kenya are still relatively contained, there’s concern they will spread, Andrew Alli, chief executive officer of Africa Finance Corp., said. “It’s extremely worrying, the levels of increasing violence on the continent,” Alli said.

  • DIKE VOWS  TO MAKE  FINAL CUT

    DIKE VOWS TO MAKE FINAL CUT

    USA-BASED Bright Dike has said he hopes to make the final cut to the Nations Cup after he was picked for a training camp in Portugal.

    “I am excited with the prospect of playing at Africa Cup of Nations for Nigeria. I will do my best to make the final cut,” the Portland Timbers forward told MTNFootball.com.

    He posted an encouraging performance when he made his Eagles debut against Venezuela last month.

    The player from the major League Soccer of the USA further said he will arrive Faro in time to be available for a January 2 friendly against Catalonia in Spain.

    “I hope I will play against Catalonia,” he said. A total of 32 players made up of 23 overseas-based players and nine from the Nigeria Premier League will open training camp in Portugal from December 27.

  • ‘They beat, raped and cut us with blade’

    ‘They beat, raped and cut us with blade’

    What does it feel like to fall victim of human traffickers? Victims tell tales of rape, horror and much more, reports Assistant Editor (Investigations)JOKE KUJENYA, who encountered them at a forum on modern slavery.

    FOR seven years after her husband’s death in 2002, Mrs. Comfort Arinze, 41, and her only son George, then 14, daily went to Lagos Island from their Bariga, Lagos mainland home to sell her wares. One day, she had in her home a visitor, who gave her the impression that she was the angel God sent to liberate her from poverty.

    Arinze said: “Everybody in our Bariga area of residence loved this woman we all call Anty Rosa. She was really nice. And she was a mother of two lovely children, a boy and a girl. They were also well brought up so we had no cause to be suspicious of her. We believed her to be an international businesswoman because anytime she came around, she would bring gifts for us. Then one day, she came to visit my son and me. She commended me for bringing up my son in a good way despite my predicament. She told me how other women in my shoes would have been jumping from bed to bed with men and noted that it was because I was not doing such that she had made up her mind to help us. I was very happy. I actually thought she was going to give us money to boost our trade. But she said she had decided to take my son and me abroad so he could go and study and that I would not only be there to offer him due parental guidance; but that, on the side, I will also be doing business to be able to sustain him.”

    Her joy knew no bounds. Sleep eluded her that night. Her son was all smiles. Within one week, Auty Rosa arranged international passports for them. She took them to Italy. Shortly after their arrival, two ladies and a man came to welcome them and ushered them into a car. That night, they slept and nothing gave them any cause to worry. The next morning trouble began. Some men came to call her son that they were to take him to where he would work. She did not object.

    Barely 30 minutes after her son left, some women came to tell her that Auty Rosa asked her to dress up for work. It soon dawned on her that she had been tricked into prostitution. The son was also to be a gigolo.

    After about one week, when Auty Rosa saw that she would not bend, she sent them out of the house.

    It took the intervention of anti-human trafficking agents for them to find their way back to Nigeria.

    If Mrs. Arinze’s story is touching, then the account of another victim of human trafficking, Ms Isoke Aikpintayi, now 32, the sixth of her mother’s eight children, is bound to evoke emotions. Until her ‘recruiter’ as they are called, came to lure her away from the comfort of her mother’s home, Isoke, who told her story in pidgin English, used to help her mother sell fruits after school in Benin.

    In her narration, presented at a forum on human traficking, entitled: “I just want to be free”, she said: “I am the sixth of my parents’ eight children. We did not have plenty money, but we were content. One day, a woman came with a promise of better life for me. Everyone thinks it is all Benin girls that easily take to prostitution. No; that is not true. But when this woman told me that the fruits I sell in Nigeria cannot fetch me as much money as the one I would sell in Italy, all my family gladly gave their consent. A few days later, we were on board to Tarino Airport in Italy.”

    She and other girls were abandoned at the airport and a supposedly strange woman helped them out. It later turned out she was the one the ‘recruiter’, who brought them from Nigeria, had ‘sold’ them to.

    She added: “The woman offered to give us accommodation for the night. We followed her. The next morning, some ladies came up to us, I mean those of us that arrived the previous night, and said it was time we went to work. I told them that we were not with them but waiting for our own ‘Madam’. Then, they dropped the shocker that they actually belonged to our ‘Madam’. I was about to ask another question when they told me to keep quiet. And that was how my suffering began. They just threw some ‘rubbish clothes’ on me to wear that I must be ready for ‘work’ in a few minutes. The girls who had been there before us were told to offer us ‘lessons on behaviour and comportment. One of them said: ‘Today, you have to go to work in these dresses’, as she threw those crazy dresses, pants and all she had on her on me. And then, they suddenly became unfriendly. And by one week, they had become madly aggressive.

    “ When they realised I was going to prove stubborn, they beat me. Then, they marched us out of the house and made us to accompany other girls to ‘work’ on the street with our so-called working dress. On the streets, a few other new girls and I refused to allow the men that came touch us. When we got back to the house, they beat us and brought in some men to rape us, cut us with blade, poured cold water on us and made us to suffer. The torture was so bad I had to scheme a way to run away from the home. It was in the process of running away that I came across good spirited Nigerians that took me to the organisations that eventually helped me to return to Nigeria.”

    These accounts were some of the revelations made at a two-day workshop organised by the Women’s Optimum Development Foundation (WODEF) held in Ibadan, Oyo State.

    Unlike the duo, a woman whose name was given simply as Genny is slaving her way in Italy to fend for herself and others back home. She has paid off her ‘recruiter’.

     

    Genny’s account from Italy

     

    “I got to Italy when I was 22years of age. I had gone through so many bad situations. The women that brought me here and her mafia gang treated me so badly. They lied to me. But now, I am 30 and I had to change my name to Genny. Today, I send at least between €3, 700 to €5,000 to my family back in Nigeria every three months. I can’t make such back home. A house is being built for me in my village. I deal mostly with white guys because they pay you and are not fraudulent like other men of colour. Again, the white guys love the way we, Nigerian girls, do it. Well, we often jazz it because that helps a lot to get them what they want.

    “At some point, I paid off my ‘Madame’ and now, I am my own ‘Madame’. Men are crazy about me and I am not willing to back off. As I continued to suffer as a victim in the hands of the woman and her gang, I began to do my own research. I got to know that the money I was promised would never come as my ‘Madame’ was using me. I knew I could not go back home empty-handed because life was tough for family and me before she came to promise us help; then, I realised the help was not coming. I am lucky to be alive and smart. Other girls suffer and die and are not as lucky.”

     

    Nigeria tops the list of countries involved in the crime

     

    The Director of Training and a Superintendent of Police (SP), National Agency for Prohibition of Trafficking in Persons (NAPTIP), Mr. Aondoaver Kuttuh, who said Nigeria tops the list of countries engaged in this illicit trade, shared the experience of a female victim of human trafficking. She, along with an unsuspecting Nigerian girl, had been given the lure of a better life in Europe. The young girl, whose picture was shown on a multi-media at the forum, had been taken through deadly routes to get to somewhere around Egypt. She had been tortured and mass-raped. All her money had been taken from her and she was left with no other option than to get to the end of her journey. Then, they got stuck in the desert. They were made to wait for days on end for the next available ‘vehicle’ or anything mobile to take them into London, according to the lie she was told. Then, one bright sunny morning, one of her ‘recruiters’ had come to her to announce the good news to her that “today, you shall enter London and there begins your dream life”.

    She said her hope was rekindled and she put behind her all the pains of the recent past. She just wanted to begin a new life. Towards afternoon, the ‘recruiter’ came to call them that it was time to board the vehicle. They all rushed out and to her dismay what she saw standing ahead of her was a big lorry with heaps of high bags of loads having human beings tucked in-between the ropes through which they would be hidden across the borders.

    According to Kuttuh, the girl retorted: “Not on my life will I get on this thing…” And that was the turning point for her. Her ‘recruiters’ warned her that if she missed that truck that was the end of their contract with her. But she was ready to die than to be on such a vehicle. Within minutes, the vehicle got loaded and that was how she was left in the desert and she began to trek to nowhere in particular.

    He said: “At the time our agency met her, she was ready for anything even death. But thank God, she was rescued and eventually rehabilitated. And there are many other unfortunate incidents like that. And where these girls don’t have money to pay on the journey again, the ‘recruiters’ turn the girls to money-making machines as men are made to sleep with them for the money that will be collected by the traffickers. That is the prostitution aspect. They will only give the girls some stipend and they dare not complain. These evil recruiters are still on the prowl, deceiving many innocent young men and women across our country.”

    He said the operators of the underground business use force and deception to get their targets. He added that human trafficking, according to the Palermo Protocol, of 2000, Italy, is a high-profit, low-risk criminal activity. He said it is a low-risk but high-profit type of crime.

    Kuttuh said international traffickers earn over $3billion annually and rank number three, that is, coming behind drugs and gun running, according to the United Nations Office on Drugs and Crime (UNODC). He said over 5, 000 victims or potential victims have been rescued by NAPTIP and other partners since 2004 to date.

    Convener of WODEF and veteran newscaster Mrs. Bimbo Oloyede appealed to women and girls to be vigilant when being offered chances to travel abroad.

    Oloyede said: “As we all know, the traffickers use deceit at the ‘recruiting’ point. They never disclose their intention to exploit the victims. What the victims often consent to is to go and make more money but not to be exploited. And we also know that little children cannot consent, not just because they are minors but because they are incapable of giving their consent. This is where we must speak out because of the innocent children. Under-age often willingly give their bodies out as a means of not wanting to be hindered from getting to their destinations. In seeking an end to this wickedness of man and humanity, we must all arrive at a mitigating soft-landing that would move up the years of litigation from the now about 14 years to 21years of imprisonment for the traffickers.”