Tag: March

  • Price of imported rice drops in March – NBS

    The National Bureau of Statistics (NBS) said average price of one kilogramme (kg) of rice (imported high quality sold loose) decreased month-on-month in March.

    The NBS said this in its “Selected Food Price Watch (March 2019)’’ report released on its website.

    The bureau said rice price decreased year-on-year by -0.39 per cent and decreased month-on-month by -0.68 per cent to N361.90 in March from N364.38 in February.

    Similarly, the bureau said average price of one kg of yam tuber decreased year-on-year by -21.07 per cent and month-on month by -2.71 per cent to N200.88 in March from N206.48 in February.

    Also, it said average price of one dozen of Agric eggs medium size decreased year-on-year by -12.80 per cent and month-on-month by -0.96 per cent to N459.80 in March from N464.26 in February.

    In addition, it said average price of piece of Agric eggs medium size (price of one) increased year-on-year by 1.73 per cent and decrease month-on-month by -0.74 per cent to N41.91 in March from N42.23 in February.

    According to the report, the average price of one kg of tomato decreased year-on-year by -10.03 per cent and month-on-month by -6.32 per cent to N240.29 in March from N256.50 in February.

    The NBS said field work for the report was done by over 700 NBS staff in all states of the federation supported by supervisors who were monitored by internal and external observers.

    Prices were collected across all the 774 local governments of the federation and the FCT from over 10,000 respondents and locations; they reflected actual prices households stated they actually bought those items.

    The average of all these prices was then reported for each state and average for the country was the average for the state.

    I Will Not be in the Senate to Warm the Bench – Niger Senator-elect

  • Forward march to the past

    •Asking electricity consumers ‘willing’ to pay for meters to do so is a sad reminder of our past 

    Abdication of responsibility: this simply is what the Federal Government has done by saying it would not oppose the wish of any electricity consumer that is willing to pay for meter based on agreement between such consumer and the distribution company (DISCO), and as endorsed by the power sector regulator, the Nigerian Electricity Regulatory Commission (NERC).

    Minister of Power, Works and Housing, Mr. Babatunde Fashola, who made the new government’s position known at the 18th monthly power sector meeting in Abuja, last week, said: “Please recall that government had in the past attempted to intervene in meter supply through CAPMI (Credited Advanced Payment Metering Implementation) which ultimately I decided we should wind down because of the distrust and disaffection it was creating between consumers and DISCOs, with government caught in the middle with numerous petitions by customers who paid for meters that were not delivered within the approved time.”

    He added: “Some DISCOs have come back to say that their customers still want to pay for meters and they can reach agreements with them on how to pay for it. Government will not stand in the way of such an agreement. It is consistent with the intent of privatisation envisioned by the Electric Power Sector Reform Act or at least it does not violate the Act.”

    We wonder what would have informed the volte-face. While we agree that pragmatism should be brought into governance, particularly in resolving the power sector crisis, the government’s new position is pragmatism in reverse. How can the government in one breath say it is the responsibility of DISCOs to provide prepaid meters and at the same time ask electricity consumers who are willing to pay for them to do so, based on some so-called agreement with the DISCOs?

    It is not the business of the DISCOs to tell the government that some of their customers are willing to pay for prepaid meters. Rather, it is their business to invest in the provision of meters as part of their obligation to their customers. The meters are the property of the DISCOs, why should the consumers pay for them? Did the Federal Government make any independent enquiry on the claim by the DISCOs? This claim is not likely to be true. And if it is true, it is because such consumers see themselves as helpless as the government in making the DISCOs  provide the meters.

    It is the frustration with the system that could have led to such demand by the hapless electricity consumers. Much as the DISCOs continue to claim that they do not have meters to go round, reports have it that some people who are willing to grease palms are getting the meters whereas those who paid for them many years back are yet to be supplied. Nigeria is one of the few places where a farmer would go to the market without implements only to get there and be asking his customers to pay to enable him get the farming tools.

    We will continue to insist on things being done the right way, especially in the power sector, because our entire lives depend on it. If we do not get power supply right, we can never get anything else right. Our economic survival depends on it; even our well-being is dependent largely on the amount of stable electricity we have. Therefore, the Federal Government should not be seen to be pandering to the wishes of a few powerful persons who bought electricity firms only to be giving excuses, either after failing to do their due diligence or simply because they never envisaged a situation where they would be told to do business as it should be done.

    Nigerians, as electricity consumers, are customers and we are all familiar with the maxim: the customer is king. The Federal Government should not be seen to be dethroning electricity consumers from their kingship position to be the underdog in the power sector. Something must be wrong for consumers to plead with electricity firms to buy meters that they ordinarily should be provided free. When they do that, it is because they have been pushed to the wall by the outrageous and indefensible bills that are slammed on them by DISCOs.

    Rather than succumb to pressure or cheap blackmail from the electricity firms, the government should insist on a business model that can take us out of the woods, not one that can only continue to pamper electricity firms that are not ready to do business the way it should be done in a civilised environment. The government’s new stand on meters is a way to deepen corruption in the provision of meters to power-starved Nigerians.

  • March inflation dips on forex supply, says NBS

    March inflation dips on forex supply, says NBS

    Annual inflation in Nigeria fell for a second straight month in March, showing the early effects of the Central Bank of Nigeria (CBN) intervention on the currency market to meet demand for dollars, the National Bureau of Statistics (NBS) said yesterday.

    Inflation declined to 17.26 per cent in March, NBS said in a report, down from 17.78 per cent in February, which was the first drop in 15 months.

    A Reuters’poll of economists had predicted a decline to 16.70 per cent.

    General price levels in rose for the 12th straight month in January to its highest level in more than 11 years, as the nation battled an economic recession, a currency crisis and dollar shortages, brought on by low oil prices, its economic mainstay.

    The NBS said the second consecutive month of a decline in the headline rate represented “the effects of stabilising prices in already high food and non-food prices”.

    “It is also indicative of early effects of a strengthened naira in the foreign exchange rate market,” it said.

    The CBN has sold over $4 billion on the forward currency market since February in an attempt to improve dollar liquidity and narrow the spread between the official and the black market exchange rates. Black market rates have fallen as a shortage of dollars caused the naira to plummet.

    A separate index showed food inflation at 18.44 per cent in March from 18.53 per cent in February, it said.

  • With March on my mind

    With March on my mind

    In these days when the seasons are becoming less clearly defined, when snow falls in Sahara and you can venture outdoors casually dressed in midwinter as you would on a hot summer day, the coming of spring is still as eagerly awaited as of old.

    Heralded by March, spring is the season of new life, of rebirth and renewal; the return of long days, when the drab uniformity of winter wardrobe yields  to a riot of rich colours on the streets;  when flowers come into full bloom and fill the air with their fragrance;  when,  to borrow from Victor Hugo, “it seems that everything laughs.”

    March also marks the birthdays of many notable Nigerians, starting off with Chief Obafemi Awolowo’s on March 6, which the lady of the house proudly shares with the sage.  Fittingly, Awo’s 108th posthumous birthday lecture was given by the respected historian and author, Professor Banji Akintoye, a member of the Sage’s Brains Trust and a leading member of the opposition in the Second Republic’s Senate. Compared with that legislative assembly, faults and all, what currently passes for a Senate is a sad regression.

    Akintoye spoke on a subject that was always at the core of Chief Awolowo’s thoughts:  the imperative of true federalism in Nigeria multinational state, and the centrality of knowledge in human affairs.  He challenged Nigerian youths to emulate Awolowo who had carved a path to greatness by the time he was 40 years old

    The challenge was not misplaced, considering that in Awolowo’s home state of Ogun, the school-age population reportedly knew much more about Obafemi Martins the international soccer star than they knew about  Obafemi Awolowo. To shut History out of the school curriculum in Nigeria as they have done is to condemn the younger generation to a future innocent of the ennobling achievements of the past as well as its chastening lessons.

    Awolowo was a polymath:  economist, lawyer, journalist, philosopher, parliamentary debater, and  brilliant organiser.  He was also a writer of the first rank, though not generally recognised as such.   Consider his Path to Nigeria’s Freedom his allocutus when he was about to be jailed on a dubious charge of treasonable felony.  Consider before that his 1944 letter to a wealthy fellow Ijebu asking for an unsecured  loan in the staggering amount of £1, 400 to enable him go to study law in the United Kingdom, and this summation in his autobiography AWO on the joys of lawyering.

    “To engage , without bitterness or animosity, in the fiercest contention; to cultivate the habit of always examining  both sides of a problem, and to present the side you espouse with forensic forcefulness and assuredness; to identify yourself with your client and to enter into his feelings as if you were the plaintiff or the defendant or the prisoner at the Bar; to propound and urge points of law which are sometimes difficult, sometimes not all too tenable, or sometimes so fine and abstruse that it is not at all easy to distinguish one point from another; to be utterly fearless and unsparing in combat; to acquire an independence of outlook in all things and to enjoy immunity in all you say and do as long as it is legitimate and within the bounds of professional etiquette; to take part in fostering the cause of justice  and equity in their total impartiality before the very bulwark of the citizens’ liberty and individual freedom – all these and more are the inherent and distinctive attributes of a noble profession  which I love and will forever cherish.”

    That is a whale of a sentence, but also a beauty.  Only a gifted writer could have pulled it off.

    Former President Olusegun Obasanjo’s 80th symbolic birthday came up on March 5, just one day before the Awo anniversary, symbolic because, like many in his generation, he has no record of his birth.  Because of this gap in his personal history, he celebrated his 65th birthday twice

    The anniversary marked the grand unveiling of his controversial Olusegun Obasanjo Presidential Library, about which I had written scathingly when he embarked on it.  It was gracious of him — unusually gracious, some would say — to thank Chief Olusegun Osoba, former Governor of Ogun State, for allocating the choice real estate on which the majestic edifice stands.

    One day, as Obasanjo was waxing lyrical in his Otta Farm House about how the prize Awolowo had sought in vain had literally fallen into his laps, he who was reared in poverty, I interjected in a fit of impetuosity that, nevertheless, he was condemned forever to live in Awo’s shadow.

    His face tightened, his eyes bulged, and his frame swelled.  I surveyed the room for the nearest exit.  His aides told me later that he must have a high regard for me.  If any other guest had said the same thing to Obasanjo’s hearing and in his home, they said, that person would have left bearing a mark of his rage.

    That was long before his second coming as a two term-president.   Like all great men, he made great mistakes.  But given his cumulative record of achievement and his standing in his own right as a statesman of global renown, I must now take back my taunt that he was forever condemned to live in Awo’s shadow.  To his credit, he never held it against me.

    Dr Onukaba Adinoyi-Ojo, journalist, playwright and public intellectual, was killed in a bizarre accident on March 7, two days shy of his 57th birthday.  He was unassuming, personable, and full of promise.  Incidentally, the accident that claimed his life occurred as he was returning to his Abuja base from the unveiling of Obasanjo’s Presidential Library.

    I gather from those “on ground” that Obasanjo has issued no statement on the passing of Onukaba, his estranged protégé, biographer and collaborator.

    Please, Mr President, say that this is not true.

    Our much acclaimed poet and future Nobelist, Professor Niyi Osundare, turned 70 on March 12.  His     joy on attaining this milestone was somehow muted by the deaths  in quick succession  of the erudite and retiring literary scholar of the first rank, Professor Ben Obumselu, and the great Caribbean poet and Nobel laureate in Literature,  Derek Walcott, both of whom he knew quite well.

    His eloquent tributes to their memory say as much about him as it says of his departed friends.

    Subomi Balogun, corporate lawyer, pioneer merchant banker, founder and chairman of First City Monument Bank and philanthropist, turned 83 on March 12.  The celebration was modest, compared to that of the 80th as well as the 60th, which I had the pleasure of attending in his Ijebu-Ode country home in 1994 at his personal invitation.

    He is still driven by the passion for excellence and Christian doctrine that made him what he is.

    Asiwaju Bola Tinubu, a pivotal figure in the political landscape and prime architect of the grand coalition that swept the All Progressives Congress into power, turns 65 tomorrow.  To take a good measure of his political stature and influence, look no farther than the disarray and the insolvency in which the PDP has been mired since its crushing defeat in the 2016 general election.

    For the 16 years it held power, the PDP advertised itself as Africa’s biggest political party.  It had ample access to resources for all manner of grandiose projects, including a N16 billion, 12-storey national headquarters, for which its well-heeled supporters and governors in PDP-controlled states plonked down more than N6 billion at the launch.

    Today, the project stands abandoned, a monument to excess and misplaced priorities. Within months of losing power, the PDP could not even pay the salaries of the skeleton staff hanging out in its secretariat, for want of a better alternative.

    Then consider that at the time the PDP was threatening to hold power for 60 years in the first instance, Tinubu and his associates in the Action Congress, and later in the Action Congress of Nigeria, constituted the only barrier to the PDP’s total takeover of Nigeria.  Stolen election after stolen election shrank his political base in the Southwest and Edo.  Abuja tightened the screws.

    It was in this hostile climate that Tinubu set out to reclaim, ward by ward, constituency by constituency and state by state his base on which the PDP had foisted its visionless rule by electoral fraud on a scale almost beyond belief.

    They called him “the last man standing” for good reason.

  • Cohbams to drop debut album March

    Cohbams to drop debut album March

    Celebrated Nigerian music producer, Cohbams Asuquo, has announced the release date for his debut album, For You. At a press conference held at Best Western Hotel, Ikeja last Friday, the artiste announced that the 14 track album will be released on Sunday, March 12.

    Cobhams hinted that there would be an exclusive album launch event at Civic center, Lagos for about five hundred guests following which he would embark on a tour starting from March 26 in Lekki.

    According to the artiste, For You is his own way of expressing his mind, especially regarding his relationship with God.

    For You is heavenly inspired. All of it is organic. All of it is live with a very strong message. It is a reflection of my thoughts and my relationships and I am sure you may or may not know this about me, but I am very big on acknowledging who God is in my life. And I think that is something that will come through in this project.  It’s a project where I am very expressive about my relationship with my maker. The album is very me,” he stated.

    Speaking further, he said that has been working on the album since the year 2012. “I started working on this project very reluctantly and then we worked on it and I was traveling, recording with seasoned men in Houston, New York and Lagos. The time has come this project and I am very passionate about it because music is a tool for enjoyment, relaxation and it is also a tool for social reformation, consciousness awareness, and many things,” he added.

    For You is produced by Cohbams himself and will be out on online music store, iTunes today for pre-order.

  • White Cane Day: Blind march in Lagos

    White Cane Day: Blind march in Lagos

    Losing one’s eyesight is not the end of the world. That was the message the Federal Nigeria Society for the Blind (FNSB) sought to pass across through its White Cane Day walk at the weekend.

    The programme, the 11th in the series, was supported by Dufil Prima Foods, which provided the T-Shirts and caps worn by over 100 visually-impaired students for the occasion.

    The walk – ‘Fitness Walk for Sight’ – kicked off from the National Stadium down to Costain round-about and back to the stadium.

    According to the FNSB Executive Council Chairman, Asiwaju Fola Oshibo, the event was to enlighten the public about the society’s training activities for the blind.

    He said: “This is a way of telling the public what we do.  We train people who go blind, either as adults or as adolescents. We have a training centre in Oshodi called the Vocational Training Centre, where we train people who lose their sight to make them useful to the society rather than go about the streets begging and we train them in various vocations.

    “Because, we are a non-profit organisation; we depend on members of the public for financial supports and this is a way of sensitising the public to let them see what we do and what we have been doing.”

    Oshibo urged Nigerians not to give up on people visually-impaired persons because they can still live fulfilled lives if trained.

    He said: “The fact that somebody has lost his sight does not mean that is the end of the road. After training and rehabilitation, they can do virtually what a normal person can do.  They can use the internet and the computer; we teach them to be independent; we teach them how to move around with their ‘white cane’.  Our message to the public when you see anybody with the white cane please assist that person whichever way; don’t ignore or abandon them.”

    He noted that the society has not been getting the expected support from the government and he appealed for support from the government and smembers of the public.

    Dufil Prima Foods Public Relations Manager Tope Asiwaju called on socially-responsible companies to keep supporting the society just like Dufil.

    He said: “The organisers and students are happy because of the kind of support we have been giving to them.  We know that this will also alleviate some of those sufferings; some of those basic needs that are required for the physically challenged, but most especially here today, whatever we give to them will help them improve in their studies and well being and of course they feel very happy that the society at large caters for them and that is why we continue to do this,” he said.

    Dufil Prima Foods donated a check of N250, 000 and other gift items to the students.

    Pictures: The blind students on the march.

  • Navy on fitness march

    Navy on fitness march

    Nigerian Navy (NN) personnel at the weekend embarked on a 10km fitness march, to assert their physical alertness in combating criminality.

    The march, which was led by the Flag Officer Commanding (FOC), Western Naval Command, Rear Admiral Fergusson Bobai kicked off from the Naval Air Station, Ojo to Kirikiri and back.

    According to Rear Admiral Bobai, aside keeping the personnel fit for their duties, the march was aimed at deterring criminalities in the command’s area of responsibility.

    ‘’In the face of current security challenges in the country, the need to keep personnel fit for operation cannot be overemphasised. This is why fitness and mental alertness are among the critical element of the Chief of Naval Staff, Vice Admiral Ibok-Ette Ibas’ policy thrust.

    ‘’It is with this in mind that the Nigerian Navy organises the one-day route march every quarter aimed at raising the level of physical fitness of personnel in the command,’’ Rear Admiral Bobai said.

  • Jide Balogun on the march

    To feel accomplished, you don’t have to be the richest man or own the fanciest of things; you only have to be better than the man that raised you. This seems the creed that propels Jide Balogun’s life, a creed that has shaped him into an exceptional businessman.

    But becoming better than his father, Otunba Subomi Balogun, would not be an easy task, considering the brilliant accomplishments of the latter, who happens to be the founder of First City Group. Jide has however carved a niche for himself in the business world. He has toed the right path as an adult, conquering life’s challenges and establishing himself as one of the most respected men on the social scene.

    Although Jide decided to toe the line of his business-minded father, it remains unknown to many that Otunba Subomi Balogun does not only play big in the banking industry, he literally dominates the property and real estate business in Lagos, especially in Ikoyi, Victoria Island, Lekki and Ajah axis of the city.

    Determined to make his father proud and extend the family’s business empire, Jide has taken charge of the real estate arm of the family business called PRIMROSE Development Company. The thriving real estate company is set to complete the first environmentally certified commercial building in Nigeria to be called Heritage Place. Otunba Subomi Balogun would no doubt be brimming with pride over Jide’s efficiency and business prowess.

  • Fed Govt to pay states’ March deferred debts

    Fed Govt to pay states’ March deferred debts

    Creditors have got some assurance from the Federal Government on states’ debts that were due for payment last month.

    The debts will be paid, the Ministry of Finance, in a statement, said.

    It said the clarification became necessary following the states’ debt repayment deferral announced last week.

    “Further to the states’ debt repayment deferral for the month of March that was announced last Thursday, the Federal Ministry of Finance has clarified that the debt repayments due to the states’ creditors will be fully paid, notwithstanding the deferral. All creditors, including bondholders, will not be adversely impacted,” it stated.

    It said the deferral is not a bailout but “a responsive measure by the Federal Government to put states in a better position to meet their salary obligations”. The deferral is N10.9 billion.

    All states will receive the relief in this instance, but further deferrals will be “subject to the agreement of a Fiscal Restructuring Plan to be prepared by each state with clear measurable objectives.”

    The statement said the ministry was keen in ensuring that the financial discipline being driven by the Federal Government is replicated in all tiers of government, including elimination of payroll fraud and increased spending efficiencies in overhead.  It called for enhanced financial transparency by the publication of audited accounts and submission of debt profile.

    President Muhammadu Buhari  approved the states’ deferred payment on account of the backlog of salaries owed by many states to their workers and the abysmally low revenue (aboutN299.7billion) available for sharing for the month of March.

    The government said last week that with about 27 states experiencing challenges meeting their salary payments and in response to the obligatory repayments due to the Federal Government from the states in respect of their restructured loans, the Federal Government offered to defer for March, the repayment of their obligations to all their creditors.  The deferral amounted to a total of N10.9 billion.

  • Osun assures workers of March salaries

    Osun assures workers of March salaries

    The Osun State Government has debunked insinuations that it would not pay March salaries because of the N6 million federal allocation it received for February.

    In a statement by the Director, Bureau of Communication and Strategy,  Semiu Okanlawon, the government assured workers of payment of their salaries.

    The statement reads: “Just as the Rauf Aregbesola administration had weathered the storm to pay salaries up to December, the government is executing a well-mapped out strategy to ensure that workers do not suffer.

    “The state received  less than N150 million from October till date, due to the repayment obligations for the infrastructure programmes it has been prosecuting.

    “Despite its obligations,  Osun has paid more than N5 billion in salaries during the same period.

    “Federal Allocation is not the state’s only source of revenue and the  support  of workers has allowed us to stretch our reserves and other sources to pay on mutually agreed terms as well as fulfill our promises to the people.

    “As at today, the process for the payment of January salaries is in the final stages. Osun workers will receive their salaries this week.

    “The state today remains a major projects site employing thousands of our people.

    “Osun is, therefore, fulfilling its obligations to the people and  running government.

    “The state calls all who care to come to visit to see for themselves the moods in the state rather than pander to rumours, conjectures and lies.”

    It added: “Osun, by virtue of its poor allocation, has never had the opportunity of ample resources commensurate to payment of salaries, payment of pensions and gratuities and implementation of capital projects.

    “But due to prudent management of resources, creative infrastructure financing, this government has been able to fulfill its obligations in all these critical areas of governance.

    “The fact remains that Osun, under Aregbesola did not have to wait for the day the state would get N6 million as allocation before proffering solutions towards sustainable economic self-reliance.

    “This is why Osun has reduced the cost of governance, moved aggressively to increase Internally Generated Revenue (IGR),  sought to attract investments through provision of hitherto non-existent infrastructure and enabling environment and instituted performance-driven governance.

    “The government, therefore, calls on its critics not to capitalise on the last allocation to make unguarded statements.

    “We are aware of those whose job it is to confuse the unsuspecting public through their mischievous statements.

    “The question these self-appointed critics should be asked is: if they demand that further funds should not be released to this government, what has happened to all the loads of lies-laden petitions they had sent to the Federal Government?” it added.