The Nation Newspaper

Tag: February

  • CBN’s PMI report shows manufacturing expanded in February

    The February 2019 Purchasing Managers’  Index (PMI) survey conducted by the Statistics Department of the Central Bank of Nigeria (CBN) showed that the manufacturing sector grew within the period.

    At 57.5 points, the production level index for the manufacturing sector grew for the 24th consecutive month in February 2019. The index indicated a slower growth in the current month, when compared to its level in the preceding month. Nine of the 14 manufacturing sub-sectors recorded increased production level, three remained unchanged while two recorded decline.

    The report released yesterday relied on data supplied by  purchasing and supply executives of manufacturing and non-manufacturing organisations in all 36 states in Nigeria and the Federal Capital Territory (FCT) and covered the period February 11 to 15.

    The apex bank makes no representation regarding the individual companies, other than the information they have provided. The data contained herein further provides input for policy decisions.

    At 56.9 points, the new orders index grew for the 23rd third consecutive month, indicating increase in new orders in February 2019. Twelve sub-sectors reported growth, 1 remained unchanged, while 1 contracted in the review month.

    The manufacturing supplier delivery time index stood at 58.2 points in February 2019, indicating slower supplier delivery time. The index has recorded growth for twenty-one consecutive months. All 14 sub-sectors recorded improved suppliers’ delivery time in the review period.

    The Manufacturing and Non-Manufacturing PMI Report on businesses is based on survey responses, indicating the changes in the level of business activities in the current month compared with the preceding month. For each of the indicators measured, this report shows the diffusion index of the responses. The diffusion index is computed as the percentage of responses with positive change plus half of the percentage of those reporting no change, except for supplier delivery time, which is computed as the percentage of responses with negative change plus half of the percentage of those reporting no change.

    A composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally contracting.

  • Kia records 195,962 sales in February

    Kia Motors Corporation announced its February 2018 global sales figures for passenger cars, recreational vehicles (RVs) and commercial vehicles, recording a total of 195,962 units sold, decreasing 9.1 per cent from 2017.

    In February, sales in Korea totaled 37,005 units, representing a decrease of 5.5 per cent compared with the same month last year.

    The company’s overseas sales also dropped by 9.9 per cent compared to the previous year, posting 158,957 units.

    The decline in both Korea and overseas markets were largely due to the timing difference of the Lunar New Year (which fell in February 2018 vs. January 2017)

    Kia’s best-selling model in the overseas markets during February 2018 was the Sportage compact SUV with 32,845 units sold. The Rio was the second best seller with 30,183 units sold, followed by the K3 compact sedan (known as ‘Forte’ in some markets) with 21,961 units sold.

    The company plans to gain new momentum by revealing All-New Ceed, Ceed Sportswagon, and upgraded Optima at 2018 Geneva International Motor Show.

  • Ekiti 2018: APC delegates to be unveiled in February

    Ekiti 2018: APC delegates to be unveiled in February

    The All Progressives Congress (APC) in Ekiti Statehas said delegates for the primary in next year’s governorship will be unveiled in February.

    Ekiti State APC Deputy Chairman Mrs. Kemisola Olaleye spoke yesterday when an aspirant, Mr. Debo Ranti Ajayi, visited the party’s secretariat to declare his intent to run for governor.

    Mrs Olaleye said 27 governorship aspirants officially informed the party of their intent to contest.

    Ajayi, a former commissioner for Budget and Planning, staged a road show from Ijigbo Roundabout to Ajilosun APC secretariat, where he unfolded his development agenda before party leaders.

    The aspirant promised to transform Ekiti State from an economy that depends on federal allocation to one of self-sustainance based on massive production of goods and services.

    Mrs. Olaleye promised the readiness of the party to conduct a credible, transparent, free and fair primary among the aspirants.

    She said: “We will hold a credible, transparent, free and fair primary whenever the National Working Committee (NWC) gives us the green light. By February, we will paste the list of eligible delegates who will vote in our primary.”

    The deputy chairman said APC had no favourite among the party’s aspirants, who he described as “children of the same family”.

    She said Ajayi had the pedigree and qualified to be governor, based on his antecedents in the private and public sectors.

    Ajayi promised to invest in youths and women, who he described as critical stakeholders but have not been empowered enough by successive administrations.

  • Oyo has paid salary till February, says govt

    The Oyo State government has decried a report that it has not paid its workers since the beginning of this year.

    It faulted The Cableng for carrying what it called a faulty survey about states with backlog of salaries.

    A statement yesterday by Commissioner for Information, Culture and Tourism, ‘Toye Arulogun, said the state was shocked by reading the report.

    It said: “The Oyo State Government has observed with dismay a news report with the headline, ‘Kogi, Abia, Oyo among six states that ‘haven’t paid workers in 2017’ in The Cableng, a news medium which is well respected by the Oyo State government. We consider the medium a reliable and credible source of information; it has earned its pedigree from professional conduct and due diligence in its reporting.

    “We are, however, shocked that a medium of such repute published a story that Oyo is one of the states that have not paid salaries this year, based on a survey by a civic tech company called BudgIT.

    “The quoted survey is faulty in its findings with a wide error margin, given the facts on the ground in relation to Oyo State. The reality on the ground casts serious doubts on the authenticity of the report. The methodology and approach of such a survey is questionable as the result is not in tandem with facts.

    “While it is understandable that the report was sourced from another reputable organisation, BudgIT, we believe The Cableng should have gone a step further to ascertain the veracity of the report before going to press, based on our belief that the ‘gates’ in the journalism profession should have helped in preventing this half-truth report.

  • Cross River among states with highest bus fares in February

    Residents of Abuja, Cross River and Adamawa paid the highest bus fares than their counterparts around the country in February, National Bureau of Statistics (NBS) said in a report.

    The comparison is based on the latest report by the NBS’ Transport Fare Watch in February, which covers bus journey within the city, intercity and state per drop on constant routes.

    It also covers charge per person; air fare charge for specified routes, single journey, journeys by motorcycles (okada) per drop and water way passenger transport.

    The report said that an Abuja resident paid an average of N257 for bus journey within the city in February.

    ‘‘Average fare paid by commuters for bus journey within the city increased by 0.01 per cent month-on-month and by 50.42 per cent year-on-year to N122.85 in February from N122.83 in January.

    ‘‘States with highest bus journey fare within city in February were Abuja N257.50, Cross River N223.33 and Adamawa N200.

    ‘‘The States with lowest bus journey fare within city in February were Borno N68.75, Yobe N60 and Plateau N78.57.’’

    The report stated that average fare paid by commuters for bus journey intercity dropped by 1.31 per cent month-on-month and increased by 26.00 per cent year-on-year to N1, 411.87 in February from N1430.63 in January.

    It added that states with highest bus journey within city in February 2017 were Abuja N4, 566.67, Adamawa N3, 350.00 and Niger N2,337.50.

    The report, however, said that the states with lowest bus journey fare within city were Kano N850.00, Ebonyi N750 and Abia N683.33.

    ‘‘Average fare paid by air passengers for specified routes single journey dropped by 0.24 per cent month-on-month and increased by 27.34 per cent year-on-year to N30,718.10 in February from N30,793.43 in January.

    ‘‘States with highest air fare in the month were Edo N40,000, Borno N35,878 and Cross River N35,758 while states with lowest air fare were Kano N25,227.56, Kaduna N23,308.48 and Katsina N21,000.

    ‘‘Average fare paid by commuters for journey by motorcycle per drop dropped by 0.31 per cent month-on-month and increased by 24.53 per cent year-on-year to N93.93 in February from N94.22 in January.’’

    Meanwhile, the report said that states with highest journey fare by motorcycle per drop in February were Rivers N152.50, Abia N151.25 and Edo N150.83.

    It further said that the states with lowest journey fare by motorcycle per drop in the month were Ekiti N53.67, Zamfara N54.09 and Niger N58.00.

    According to the report, average fare paid by passengers for water way passenger transport dropped by 3.84 per cent month-on-month.

    It stated that the fare increased by 19.29 per cent year-on-year to N569.68 from to N592.68.

    ‘‘States with highest fare by water way passenger transport in February were Bayelsa N1,933.33, Delta N1,633.33 and Cross River N1,700.00.

    ‘‘The states with lowest fare by water way passenger transport in February 2017 were kebbi N220.00, Gombe N150.00 and Borno N117.89,’’ it added.

  • Egwin to resume light training February ending

    Egwin to resume light training February ending

    • Rangers’ striker grateful to Enugu Governor, others

    Recuperating Enugu Rangers striker, Ifeanyi Egwin has told SportingLife that by the end of February he would be free to return to football after another check-up by doctors.

    Egwin broke his leg on the final day of the season against El Kanemi Warriors when he was chasing a goal bound ball but the elated forward was seen walking normally with the aid of a stick and he also disclosed that he has started driving his car and also riding the bicycle at the gym.

    The former Dolphins’ striker revealed that he thought he won’t be able to play football again immediately after the incident but that he was grateful to God, the Governor of Enugu State, Ifeanyi Egwin and Enugu Rangers for standing by him throughout his trying periods.

    He said the assurances from the doctors that performed the surgery and the fact that he could now walk about with the  aid of a walking stick speaks volume of the perfect work God has used the doctors to do in his life and that he won’t do anything that would jeopardise his recovery process.

    Egwin said his prayer is for him to bounce back and recover from the unfortunate event so as to contribute his quota to Enugu Rangers’ quest to retain the league and also play on the continent next year.

  • Dickson laments dwindling allocation, says Bayelsa got N2.9b in February

    Dickson laments dwindling allocation, says Bayelsa got N2.9b in February

    Bayelsa State Governor, Seriake Dickson, on Friday, lamented the poor financial position of the state, as it received N2.9 billion for the month of February from the federation accounts.

    A statement issued on Friday by his Chief Press Secretary, Daniel Iworiso-Markson, said the governor stated this in Yenagoa, during the inauguration of three new Special Advisers.

    He called on the Federal Government to take drastic measures to change the harsh economic situation facing Nigerians.

    Dickson explained that the state government got the February allocation after deductions at source, including bonds incurred by the previous administration.

    The governor said it was becoming increasingly difficult for the government to meet its financial obligations.

    He said, “I have not seen anything like what has just been reported to me by the finance team. For this month, what has come into our state is N2.9 billion; it has never been this bad. Meanwhile, our salary obligation to civil servants alone is about N4 billion, so you can see where we are, as a state.

    “Four years ago, when this government started, the first allocation we received was about N16 billion. At some point, it climbed to N18 and even N19 billion. And, that was why we put all your resources in most of these ambitious projects that a number of them, including the Ogobiri bridge, first flyover and several roads have been completed.”

    While advising Bayelsans, particularly the workers to show greater understanding, said the state government would be compelled to take hard decisions after due consultations with stakeholders.

    Delivering his charge to the new special advisers, Dickson stated that they were re-appointed in appreciation of their meritorious service to the state in the last four years.

    He described them as resourceful, tested and tried apostles of the restoration government.

    He, however, urged them to be above board in the discharge of their duties and devise innovative ideas for the government to tackle the challenges of security, information and financial management towards achieving sustainable development.

    The governor assured that his administration would improve on its security infrastructure and strategies to ensure that the state maintains its position as one of the safest states in the federation for investments and other social activities.

  • February date for Nigerian Broadcasters Merits Awards

    February date for Nigerian Broadcasters Merits Awards

    After hosting five editions in Lagos, the annual Nigerian Broadcasters Merit Awards (NBMA) has shifted base to Abuja, organisers have said.

    “It’s about time other regions had the feel of the pioneer award for the broadcasters in Africa/ Nigeria,” said the convener, Mr. Kazeem Popoola in a statement, who added: “However, due to some circumstances beyond our control, this year’s NBMA earlier scheduled for 23rd January, 2016, has been shifted till February 27th.”

    He announced that the 6th edition of the event will take place at the prestigious BARCELONA HOTEL, Wuse 2 Abuja, while the nominees’ party is billed to hold on Saturday 23rd January, 2016, at new celebrity hangout, HEIRS PLACE/LOUNGE, Ibadan, Oyo State.

    “It’s going to be a gathering of broadcasting heavy weights and society big-wigs. Among the lined-up programmes that will add glitz and glamour to the event, includes a red carpet reception, live studio broadcast, fashion display, command performances from top rated music stars and humour merchants, as well as other side attractions,” said Popoola.

  • US economy adds 295,000 jobs in February

    US economy adds 295,000 jobs in February

    The United States economy added 295,000 jobs in February, while the unemployment rate fell to 5.5 per cent from 5.7per cent, according to Labour Department figures.

    It was the 12th month running that the economy added more than 200,000 jobs, the longest such run since 1994.

    The stronger-than-expected jobs figure led to a jump in the value of the dollar.

    Markets are speculating that the Federal Reserve could raise interest rates in June this year.

    The Labour Department figure showed there were job gains in a number of sectors including construction, health care, and transportation.

    There were also job gains in food and drinks outlets, professional and business services, and warehousing. However, employment in mining was down over the month.

    The figure for the number of jobs created in January was revised down from 257,000 to 239,000.

    In February, average hourly earnings for all employees on private non-farm payrolls rose by three cents to $24.78, with earnings up by two per cent over the year.

    The labour force participation rate fell to 62.8 per cent from 62.9 per cent, as more people made themselves available for work.

    So the American labour market is off to the races, leaving behind the legacy of the financial crisis? Or is it?

    There is certainly some good news in these figures, such as the 12th consecutive month in which employers have added at least 200,000 jobs. It’s also worth noting just how much some of the bad numbers have come down since the worst of the great recession. Unemployment peaked at 10 per cent and is now 5.5per cent.

    A wider measure which includes a number of other groups who are working less than they want to is down from 17 per cent to 11 per cent. But before the crisis it was as low as eight per cent. Another important comparison is the percentage of the adult population who do have jobs. That is still significantly lower than it was throughout the 20 years before 2008.

    So, the situation is improving but it is still work in progress.

    The strong jobs data is likely to raise expectations that the Federal Reserve will be looking at raising interest rates sooner rather than later.

    Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, Ohio, said: “Any sign of undue strength will raise the spectre of rates climbing sooner than expected, and we were already expecting rates to rise this year.”

    Meanwhile, Tom Porcelli, chief US economist at RBS Capital Markets in New York, said: “It’s been looking extremely constructive over the past few months, at the very least it probably gives some people pause for cutting down their GDP expectations this year.

    “We had already generated a million jobs in the previous three months, the economy is generating more job growth than we think it has the ability to do. While the summers have been very robust, at some point we’ll have to see the slowdown to some extent.”

  • February polls: Performance not platitudes

    SIR: Kindly help whisper to President Goodluck Jonathan that he has spent eight years at the presidency: two years as Vice President, and six as president.

    My point? It worries me to hear him still talk of planning on what he will do for Nigerians if re-elected. While first term bids, the world over, are won on account of impressive manifestos, second term bids are basically secured on the altar of scorecards.

    Rather than ride on the high horse of performance, the President is seen touring churches, currying electoral favour from church leaders and founders who ordinarily should know better, but are obviously, copiously blinded by bigotry and fanaticism.

    Why wait till weeks to elections before visiting these churches? No doubt, such eleventh hour visits and entreaties are but desperate, foul moves and stink of corruption. Leaderships of such churches may deny, but selfish benefits rule such visitations. For how long shall religion be allowed to divide us,  used to defraud us, used to defame us, used to disenfranchise us and of course, used to dehumanise us?

    In all known literature, religions promote harmony, peace and unity. I must make haste to say, rather than religion, our common enemies are the evil men and women in our midst, hence, religion should be separated from the state and national concerns- a good case in point is the February general elections.

     

    • Omale Suraj,

     GRA, Ankpa, Kogi State.