Tag: negative

  • Investors in ‘danger zone’ as returns turn negative

    From a huge gain of some N1.34 trillion 32 days ago, investors in equities for the first time this year have entered the ‘danger zone’ of negative average return.

    This is as a result of the losing streak at the Nigerian Stock Exchange (NSE), which has continued for the 11th consecutive trading session.

    Average year-to-date return on equities plummeted to -3.73 per cent at the weekend, implying that all gains so far recorded this year had been eroded and investors now carry average loss of 3.73 per cent. Compared to net capital gain of N1.34 trillion at the beginning of May 2018, net capital loss for Nigerian equities stood at N273 billion at the weekend.

    Benchmark indices at the NSE indicated steep declines in share prices over the past 11 trading sessions as panic selling exacerbated mild profit-taking transactions that had moderated the market since March 2018. The equities market started last month with a year-to-date return of 7.91 per cent, a slight decline but considerable return compared with 8.53 per cent recorded at the end of the first quarter.

    The All Share Index (ASI)-the common value-based index that tracks share prices at the NSE, closed weekend at 36,816.29 points while the aggregate market value of all quoted equities slumped to N13.336 trillion, their lowest values this year.

    The market witnessed its worst decline last week, losing N908 billion in four trading sessions. The week-on-week average decline of 6.38 per cent eroded positive return and left the market with average negative return of -3.73 per cent at the weekend.

    NSE Chief Executive Officer, Mr. Oscar Onyema attributed the performance of the equities market to the uncertainties in the macro-economic environment.

    “Since the market is a leading indicator, we cannot take our eyes off the ball and must continue to press for positive catalysts that will propel the economy to new heights,” Onyema said.

    He said the government was grappling “with the task of articulating a clear economic blue print for the short to midterm within which credible fiscal and monetary policies can emerge” and underscored the critical importance of the capital market to “sustainability of growth and development in an economy”.

    He spoke at the fifth NSE/LSEG Dual Listings Conference organised by the NSE and the London Stock Exchange Group.

    The profit-taking fluctuations that had started last March worsened considerably into a swinging selloff in last month. Nigerian equities lost N1.15 trillion last month, equivalent to average month-on-month decline of 7.67 per cent.  Nigerian equities had lost N557 billion last March and showed restraint with a modest loss of N44 billion last April.

    Nigerian equities in January hit all-time high market capitalisation of N15.3 trillion while the ASI had risen to 43,041.54 points, its highest index points since last October. The ASI had opened the year at 38,243.19 points while total market value of quoted equities opened the year at N13.609 trillion.

    Nigerian equities had closed 2017 with full-year average return of 42.30 per cent, ranking within the top 10 best-performing equities across the world. Aggregate market value of quoted equities closed 2017 with net capital appreciation of N4.36 trillion.

    Analysts at GTI Capital noted that the selloff was triggered by political uncertainty as preparations for the elections in 2019 continue.

    Analysts said the appreciation recorded by the Dollar in foreign exchange market also contributed to the selloff by foreign investors.

    Analysts at Cordros Capital, who had sounded more upbeat, took a cautionary view at the weekend noting that “while acknowledging potential bargain hunting in the short term, in what follows relatively lower stock prices, we guide investors to trade cautiously and focus primarily on fundamentally sound stocks”.

     

  • Negative sex appeals killing sales, says don

    Professor of Public Relations and Advertising, Lagos State University (LASU),  Rotimi Williams Olatunji, has said the use of negative sex appeals by agencies and advertising practitioners does not inspire consumers to shop for firms’ goods or services.

    Contrary to the impression that the aforementioned stimulates sales, Olatunji said a research he carried out showed that negative sex appeals put off buyers and create apathy. He, therefore, suggested that virtues, such as loveliness, beauty, attractiveness and fun, among others, should be explored as they have very strong appeal.

    Olatunji of the LASU School of Communications, was delivering his inaugural lecture titled: “Advertising, advertisement and the rest of us”, at the university main campus in Ojo.

    He said:“The research I embarked upon showed that the use of negative sex appeals in advertisement is generally considered demeaning, amoral, and sometimes exaggerated and do not necessarily make advertising interesting or appealing. Respondents agreed that attractive female models and positive use of sex appeals in advertising bring benefits to brands.

    “On the other hand, negative use of sexual images in advertisement do not necessarily guarantee brand loyalty; do not readily sell the advertised brand, and do not significantly and positively influence purchase decision. Therefore, negative sex appeal does not build brand loyalty.”

    Olatunji advised advert practitioners to step up the use of indigenous languages in advertising, adding that consumers identify with language of the locals.

    “The best language of any human being is their mother tongue, and you cannot use a language better than the indigenous speakers,” he said.

    Olatunji continued: “You will discover that the media has been using indigenous language for broadcasting. For instance, there is a radio station, which uses the three dominant languages, so how do you advertise through such a medium without using the language of the people?

    “Second, foreigners, particularly Europe and America, are teaching their children our languages, but here, Yoruba is becoming extinct. There is something in language that talks about the lifestyle and technology of the people. That’s why I advocate the use of indigenous languages in commercials, especially our Pidging English, which cuts across every tribe. Interestingly, advertising messages through indigenous languages catch more attention than the one in English Language.”

  • Q1 economic growth negative, says NESG

    Q1 economic growth negative, says NESG

    Nigeria’s economic growth in first quarter (Q1) of the year remains negative, the Nigerian Economic Summit Group (NESG) Business Confidence Monitor (BCM) Q1-2017, has said.

    The report is a survey-based quarterly report that tracks actual performance of business activities and reveals the expectations of business managers in the short term.

    The report signed  by  NESG Chief Economist & Head of Research, Dr. Olusegun Omisakin, stated that actual performance of businesses in the first quarter of the year revealed that the business index stood at -5.4.

    He said the negative value was an indication that many businesses experienced sluggish performance during the period relative to the previous quarter.

    The statement, which was made available to The Nation, said on a sectoral basis, two sectors, manufacturing and services, showed positive performances with indices of 14.7 and 4.8.

    On the flip side, the trade sector showed a decline with an index of -10.4, while industrial sector (excluding manufacturing) recorded an index of -0.4, representing mild decline in activities.

    “Indices for the leading business indicators reviewed such as production, operating profit and employment were at positive readings of 9.8, 8.2 and 4.7 respectively, while cost of doing business and access to credit indices stood at negative trajectories of -41.3 and -23.7,” Omisakin said.

    According to him, in terms of future expectations, the BCM revealed a positive index of 34, which indicated positive sentiments and perception of business activities in the next two quarters-Q2 and Q3 2017.

  • Tinubu ‘has no hand in negative report on any senator’

    Tinubu ‘has no hand in negative report on any senator’

    •ThisDay gets knocks for ‘selling its soul’

    All Progressives Congress (APC) stalwart Asiwaju Bola Tinubu commented yesterday on a report in which he was accused of “conspiracy to destroy the Senate”.

    The report was published by ThisDay in its April 2 edition.

    He described the report as “political libel” and spurned it as “balant lie”.

    In a statement signed by Tunde Rahman for the Tinubu Media Office, the former Lagos State Governor, said:

    “After giving substantial time for ThisDay to correct the outright falsehood used as cover story for its Sunday, April 2 edition, we are constrained to correct the record. Those behind the report are practitioners of political libel. That blatant lie was reported as fact breached the minimum standards of journalism. It is sad that ThisDay allowed itself to become an instrument of errant mudslinging.

    “Hopefully, ThisDay was only a dupe in this deception. It would be painful to think the newspaper might have been wilfully complicit in this bald assault against truth. There is nothing wrong with publishing hot news; but hot news should never amount to a rotten lie.

    “The newspaper claimed in the report “PDP Caucus Accuses Tinubu, EFCC of Conspiracy to Destroy Senate” that Asiwaju Bola Tinubu, in concert with the EFCC, has instigated media attacks against the PDP Senate Caucus.

    “The story is such an outright fabrication that it claims the PDP Senators held a special meeting to discuss Asiwaju Tinubu. However, PDP Senators claim no such meeting was ever held and that they hold no special animus toward Asiwaju Tinubu.

    “We are usually not in the position of agreement with PDP members. But on this rare occasion, we have no contention with them.  Asiwaju Tinubu is a former Senator. He has a special affection for the Senate as an institution. It is not within him to belittle the institution or members of that institution who happen to be in the opposing political party.

    “Moreover, his brand of politics does not lend itself to engaging in wanton character and personal attacks. There is significant policy difference between our progressive school of thought and the often reactionary ideas of the PDP.  There are more than enough serious issues over which to grapple the PDP.  Asiwaju TInubu’s politics are driven by his policy views. He will gladly wrestle against the PDP on substantive political differences. But engage in personal attacks, rumor-mongering and mudslinging, never.  We leave that for others. The gutter is no place to build a better nation. We seek higher ground.

    “So that there is no confusion on the core issue here, we categorically deny any hand in any negative personal report on any senator.

    “In that the PDP leadership disavows such a meeting, we must question the source of ThisDay’s fictional account. More importantly, we can only conclude that the impetus for this liar’s account can only be a malign one.”

    In TInubu’s view, “the false story is motivated by venal political objectives that dare not come out of the shadows”.

    “Those behind the report know they cannot show themselves for what they truly are. Their tactics are underhanded because their objectives are equally so.  They lie because the awful objective they seek cannot be gained by telling the truth.

    “Some malefactors want to use the name of Asiwaju Tinubu to stir opposition in the Senate to the confirmation of Magu as EFCC chairman. By trying to paint Magu as Tinubu’s partner in mudslinging, the false story seeks to induce senators to oppose Magu as a way of thwarting Asiwaju Tinubu.

    “The authors of this screed thus revealed their moral barrenness.  The fight against corruption is a cardinal battle this nation must win or forever forego its greater destiny.  Despite the importance of this matter, someone is trying to exalt his narrow personal interests above the long-term interests of the nation. Someone so brazen and self-absorbed is a dangerous instrumentality when placed in a position of power.

    “That person will undermine the very institutions of democracy to get his way. In this very story, they have tried to break down both the Senate and the press in one swoop. Sadly, they seem to have already conquered at least one important press organisation. ThisDay apparently has shunned the ethics and ways of responsible journalism.  One can only hope that the newspaper received enough in return for selling its journalistic soul.”

    The statement dismissed the report as a “fable”

    It said: “The anatomy of the report is that of a fable that never should have been told.  The report centered on a meeting that never held. The reporter neither stated who attended the meeting nor alluded to any formal statement issued after the meeting.”

    The PDP caucus had earlier denied ever meeting to discuss Tinubu and the EFCC.

    The Southeast Caucus Leader, Senator Enyinnaya Abaribe, who has been named the spokesman of the party’s caucus said: “It is far from the truth. We did not at any time discuss Senator Tinubu at any meeting and nobody accused the EFCC of anything.”

    Besides, when the party’s caucus and its leaders met, there was no mention of either Tinubu or the EFCC.

  • Fitch revises Nigeria’s outlook to negative

    Fitch Ratings yesterday revised the Outlook on Nigeria’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) to negative from stable and affirmed the IDRs at ‘B+’.

    The issue ratings on Nigeria’s senior unsecured foreign currency bonds have also been affirmed at ‘B+’.

    The country ceiling has been affirmed at ‘B+’ and the short-term foreign and local currency IDRs have been affirmed at ‘B’.

    The revision of the outlook reflects tight forex liquidity and low oil production that contributed to the country’s first recession since 1994. The economy contracted through the first three quarters of last year and Fitch estimates gross domestic product (GDP) growth of -1.5 per cent last year as a whole.

    Fitch said: “We expect a limited economic recovery in 2017, with growth of 1.5 per cent, well below the 2011-15 annual growth average of 4.8 per cent. The non-oil economy will continue to be constrained by tight foreign exchange liquidity. Inflationary pressures are high with year on year CPI inflation increased to 18.5 per cent in December. Access to foreign exchange will remain severely restricted until the Central Bank of Nigeria (CBN) can establish the credibility of the Interbank Foreign Exchange Market (IFEM) and bring down the spread between the official rate and the parallel market rates.

    “The spot rate for the naira has settled at a range of N305-N315 per USD in the official market, while the Bureau de Change (BDC) rate depreciated to as low as N490 per USD in November 2016. In an effort to work with the CBN to help the parallel market rates converge with the official, BDC operators subsequently adopted a reference rate of N400 per USD. However, dollars continue to sell on the black market at rates of well above N400. The authorities have communicated a commitment to the current official exchange rate range, but the availability of hard currency at those rates is severely constrained.

    “Trading volumes in both the spot and derivative markets increased following the June changes to the official foreign exchange market, but remain low, at of $8.4billion in December, compared to $24billion in December 2014. Gross general government debt increased to an estimated 17per cent of GDP at end-2016, from 13 per cent at end-2015, although it remains well below the ‘B’ median of 56 per cent and is a support to the rating. However, the country’s low revenues pose a risk to debt sustainability. Gross general government debt stands at 281per cent of revenues in 2016, above the ‘B’ median of 230per cent.

    “Nigeria’s government debt is 77per cent denominated in local currency, which makes it less susceptible to exchange rate risk, but the share of foreign currency debt is increasing. Additionally, the government faces contingent liabilities from approximately $5.1billion in debt owed by the Nigeria National Petroleum Corporation (NNPC) to its joint venture partners.”

    Fitch forecasts that Nigeria’s general government fiscal deficit will remain broadly stable this year at 3.9per cent of GDP, just below the ‘B’ category median of 4.2per cent.

    It said the country is likely to experience a recovery in oil revenues, but will continue to struggle with raising non-oil revenues. Total revenues will rise to just 7.4 per cent of GDP, up from 6.2 per cent in 2016, but still below the 12.4per cent of GDP experienced in 2011-15.

    Import and excise duties have experienced a boost from the depreciation of the naira, but corporate taxes and  value added tax (VAT) will continue to underperform, owing to issues with implementation and compliance. On the expenditure side, growing interest costs will increase current spending.

    Fitch forecasts the cost of debt servicing in 2017 will reach 1.4per cent of GDP, up from an average of 1.1per cent over the previous five years.

    The banking sector has experienced worsening asset quality as a result of the weakening economy, problems in the oil industry, and exchange rate pressures on borrowers to service their loans.

    The CBN reported that industry non-performing loans (NPLs) grew to 11.7per cent of gross loans at end-June 2016, up from 5.3per cent at end-December 2015.

  • How negative emotions can lead to cancer

    How negative emotions can lead to cancer

    Is there a link between cancer and unexpressed anger? A traditional medicine practitioner, Dr Godwin Ihesie, tells OYEYEMI GBENGA-MUSTAPHA more on this.

    Cancer is caused by the suppression of toxic emotions; primarily anger, hate, resentment and grief. Suppression of these toxic negative emotions increases stress hormone cortisol levels, which directly suppress immune system function. When the immune system is not functioning properly, normal cells mutate into cancer cells as revealed in the six phases of cancer.

    A homeopathic doctor, Dr Godwin Ihesie, urged people to do away with negative emotions such as anger, hate, resentment and grief. These negative emotions are causes of cancer, especially breast cancer.

    Dr Ihesie said the root cause of cancer is by negative emotions; more so,  cancer in the right breast is spurred by conflicts with the opposite sex. Cancer in the small intestines is a result of prolonged depression. Anger, he also said, can result in cancer in the large intestine. People should learn to let go and not suppress toxic emotions- primarily anger, hate, resentment and grief.

    “Cancer absolutely has emotional roots. There are so many evidences suggesting that repressed anger, hate and resentment play a crucial role in the development of cancer. Increased stress hormones caused by emotional triggers suppress the immune system, which can lead to cancer. Stress is known in the traditional and alternative communities as a major cause of inflammation. It is one thing everyone agrees on, Inflammation has been discovered at the base of all known diseases. Stress kills through cancer or heart attack or autoimmune disease. None should allow it to control his or her life. Balanced emotions equal a balanced physiological system,” said Dr Ihesie.

    Explaining further, he said when it comes to cancer, there are obvious mind-body links. Stress, pessimism and other emotional factors have been proven to play a role, increasing the risk of cancer, metastasis and early mortality. In particular, stress has been shown to depress the immune system, increase inflammation and affect the bodies on the molecular level, even damaging the DNA.

    He cited a researcher at the American Academy of Anti-Aging Medicine (A4M) Fellowship, integrative medicine pioneer Isaac Eliaz, M.D., L.Ac., who discussed how negative emotions hinder immune response and fuel cancer formation and metastasis.

    “The negative effects of stress have been studied in a variety of cancers including breast, ovarian, and digestive tract. In one study cited by Dr. Eliaz, breast cancer risk doubled for women after a divorce, separation or the death of their spouse. In addition to reducing our body’s resistance to cancer, stress, depression and isolation also increase metastasis. The best way out is to ensure negative emotion do not reside in the body,” said Dr Ihesie.

    Way out

    “At some point most of us learned that it is a good idea to forgive people. We learned that it is “holy” or “spiritual”.  But there is a more basic reason to forgive people: when you don’t forgive them, it ruins your life’’. Dr Ihesie said the law of the universe is that humans attract what they focus on. If you are focused on fearing whatever may come, you are sending a strong message to the Universe/Nature to send you whatever you fear. Instead if you can get yourself into feelings of joy, love, appreciation or gratitude, and focus on bringing more of that into your life, you are going to avoid the negative stuff automatically. Find something to be happy about every day, and every hour if possible, moment to moment, even if only for a few minutes. This is the easiest and best protection you can have. If nothing else, be joyous that you are alive,” he stated.

    He continued: “Studies have it that hostility and resentment tear down the immune system and double the risk of heart attack, cancer and other non communicable disease (NCDs) such as diabetes. So, it is good to eschew all animosity, bitterness because bitterness makes one sick.

    “To forgive someone, you don’t have to agree with what they did. You just  want your life to work. Is it easy? Usually it is not. But you don’t forgive people for their benefit. You do it for your benefit,” he advised.

  • Ebola: Laboratory test of suspected patient proves negative, says FG

    Ebola: Laboratory test of suspected patient proves negative, says FG

    • Suspects poisoning, intoxication

    The cause of the recent death of the University of Calabar undergraduate in mysterious circumstances at the UNICAL Teaching Hospital remains unknown, it was learnt yesterday.

    There were fears that he may have died of Ebola.

    However, latest results from further laboratory test carried out on his remains  were negative  for all known pathogenic viruses, the Permanent Secretary, Ministry of Health, Mr. Linus Awute, said in a statement.

    This, according to him, has thrown up the possibility of poisoning or intoxication with a chemical.

    Awute said that the Nigeria Centre for Disease Control (NCDC) will continue with investigation in collaboration with the National Agency for Food and Drug Administration and Control (NAFDAC).

    Results of the first round of laboratory tests proved negative for Ebola Virus and Lassa Fever virus.

    The additional tests were carried out at the Redeemers University African Centre of Excellence for Genomics of Infectious Diseases at Ede, Osun State.

    The permanent secretary said:  “Further tests were conducted to establish any bacterial or fungal infection involvement and this also proved negative.

    “The possibility of poisoning or intoxication with a chemical cannot be ruled out at this stage.

    “The Nigeria Centre for Disease Control (NCDC) will continue with this investigation in collaboration with National Agency for Food and Drug Administration and Control (NAFDAC).

    “On the basis of these finding Accident and Emergency (A&E) Unit where the patient was admitted has been decontaminated and will remain closed throughout this weekend.”

  • Negative image affecting Ekiti, says Fayemi

    Negative image affecting Ekiti, says Fayemi

    Former Ekiti State Governor Kayode Fayemi has said all the negative news from the state was affecting its economy.

    The former governor spoke yesterday when he visited the Hausa community to show his sympathy over the losses it  incurred in the violence that rocked Ado-Ekiti last week.

    Fayemi, who visited the Hausa at Shasha, on the outskirts of Ikere-Ekiti, where they had been relocated, promised that the incoming All Progressives Congress (APC) administration would assist them.

    The ex-governor  inspected the burnt Erekesan Market.

    He visited the Ewi of Ado-Ekiti, Oba Adeyemo Adejugbe, to commiserate with him.

    The former governor, who was accompanied by some officials of his administration, said his visit was to identify with the people during these trying times.

    He urged all Ekiti people to unite and fight against kidnapping and other  crimes for the state to witness peace and development.

    Fayemi said kidnapping is unacceptable and must not to be allowed to fester for the state to be investors’ haven.

    He said the negative image Ekiti has acquired in recent times is affecting  its economy.

    Fayemi said: “Some of my colleagues and friends would have accompanied me to Ekiti but many of them declined the invitation as result of the spate of violence and kidnapping.

    “I don’t think Ekiti deserves this negative label, which is why I am calling on well meaning indigenes to join hands with those who are willing to return peace to the state.”

    Fayemi expressed sadness that the good relationship that existed between indigenes and Hausa settlers had become strained.

    He called on stakeholders to join hands to end the twin-monsters, “which is strange  to the culture of the land”.

    Oba Adejugbe thanked Fayemi for his visit, urging the former governor not to rest on his oars in ensuring that peace reigns in the state.

    The monarch said a committee had been set up  to take an inventory of the property damaged during the clash.

  • Will negative attack work?

    Will negative attack work?

    Finally, 2015 is here and Nigerians are ready to make their most important decision as a collective. Will it be for change or for the status quo? And candidates, canvassing for votes, also have a choice of campaign strategies. They may choose the moral high ground, be positive, and persuade the voters that they have viable programmes to solve the problems facing the nation. Or they may choose the path of infamy, personalise issues, and resort to negative attack that demonises their opponent.

    A strategy of negative campaign can be understood in various ways. First, it works if you try to define your opponent negatively and he or his campaign is always put in the defensive position. Second, as a result, the candidate who is so effectively baited spends an undue amount of time correcting his rival’s definition of him with little or no time to put out his programmes and agenda. Third, to the extent that the attack is effective and the negative portrayal sticks with the opponent, voters may come to wonder if he is up to the task.

    But all is not positive for the negative campaigner. Voters are neither ignorant nor naïve and there is a limit to how anyone can take them for a ride. On the flip side of negative campaign is that a candidate who indulges in it exposes himself to the charge that it is the last resort for him because he has nothing else to run on. After all, it is well known that candidates turn negative when the issues are hostile to their campaign.

    Thus, if a candidate cannot run on his record and he or his campaign chooses to demonise his opponent, voters are capable of seeing through the ploy. If a candidate has no clue as to the yearnings and aspirations of voters, he may try to scare his opponent by making a monster of him and confusing voters as to the qualities and qualification of his opponent.

    Negativism has emerged as the main campaign strategy of the ruling party as soon as General Muhammadu Buhari emerged as the standard-bearer of the All Progressives Congress (APC) and Professor Yemi Osinbajo as his running mate.  But it is quite capable of harming instead of helping President Goodluck Jonathan’s reelection bid. The reason is simple. The tactic of the campaign is to exploit the fault lines of religion and ethnicity. It was done successfully in previous elections, especially in the first and second republics. In 1983, especially, the National Party of (NPN) made religion and ethnicity the joker of its campaign. It appealed to raw emotions of its supporters, among other infamous calculations, referring to Chief Obafemi Awolowo, the Christian candidate of the Unity Party of Nigeria (UPN) and his supporters as the Kaffir even when the chairman of the NPN was a practising Christian.

    The tactic was immoral then and its architects were shameless. We cannot be sure how effective it was then because though the NPN was declared the winner; there was an undeniable massive rigging across the land, the fallout of which ended the Second Republic. Now the descendants of the tacticians of that era are the new negativists of this and they are no less unethical. Surely the offspring of the cobra cannot be anything but poison. And true to their nature, they can only poison the well of democratic elections. That is, if they are allowed to.

    Thankfully, there is a big difference between 1983 and 2015. In 1983, the political party system was pathetically ethnicised with the NPN controlling most of the North, the UPN the West, and the Nigerian Peoples  Party (NPP) the East. Thanks to the formation of the APC, we now have two major political parties with a national spread. And though, the negativists will try because it is the only game they know, they cannot truthfully and fairly categorise the parties in ethnic or religious language.

    And try they have! What, I ask, has the metaphor of light and darkness to do with the election of a president? Is it that one party is the party of light and the other is the party of darkness? Or that one of the candidates belongs to the light while the other belongs to darkness? The imagery cannot be starker. But what does it connote? And how does it come to this? When you start dichotomising so arbitrarily and characterising so pejoratively, without any basis in fact, you invariably expose your own dark instincts. And people are intelligent enough to see through.

    We are told that one candidate is a semi-literate “jack-boot” and the other is a super-literate with a Ph.D. Assume for the purpose of argument that the facts are not in conflict with the demeaning characterisation. The question that follows is not original with me. It was nicely stated by online commentators with different styles: “And so what?” they asked. How has the “super-literate” Ph.D. performed in office? And how has his paper qualification impacted the lives of Nigerians? We are told that Nigeria is the largest economy in Africa. How has this “fact” transformed the lives of citizens?

    The question does not escape the analysts of the World Bank Nigeria Economic Report who raised the question why a country the size and wealth of Nigeria can have such a huge poverty rate. An answer is not far-fetched. The wealth is not distributed equitably. PDP claimed that it has made many millionaires and billionaires and it is true as was seen in the in-your-face display at the recent fundraiser for its presidential campaign. Has it percolated down to the masses? If it did, the rate of poverty would be considerably lower.

    We have depended on the sale of crude oil and importation of refined oil for the better part of the new civilian dispensation. Now that the United States has abandoned our crude oil, and the world price of crude has plummeted to less than $60 a barrel, there is no doubt that our poor are going to become even poorer and the rich is going to get richer on the back of the poor. What has a Ph.D. got to do with it if a leader is bereft of ideas?

    True to their nature, negativists are not perturbed when they are caught in obvious contradictions and inconsistencies. They are proud of their academic qualifications but unashamed when they make a mockery of the same. Thus one who bellyached at the prospect of a Muslim/Muslim ticket (after once suggesting an El-Rufai/Fashola ticket), and claimed credit for nudging the APC against such “insensitivity” cannot now see why there should be a Muslim/Christian ticket when the APC has opted for it. How do you even start reasoning with a person when consistency, which is the very presupposition of reasoning, is compromised?

    We are now asked to dismiss Yemi Osinbajo as a pseudo Christian because, after careful and prayerful reflection, he has chosen to share with Muhammadu Buhari a promising ticket to salvage the country. And once again, we are reminded of the metaphor of light and darkness, which now appears to be a talking point of the campaign. We have entered again that dangerous realm where serious issues of national importance are deliberately shunned aside while peripheral issues are amplified with sentiments and emotions. If the opposition spends time responding to negative attacks, it has little or no time to present its well-thought agenda to the people.

    It is certainly legitimate to ask questions about the performance of a candidate in previous office(s), and it is incumbent and respectful to voters for him to come clean. But if a simple courtesy is not extended to a candidate to address those issues and critics start making pronouncements and judgments concerning who and what he is, and proclaiming him guilty in lieu of trial, then we would have been unfair not only to the candidate but to the electorate who deserve to have an open mind to make their voting decisions. In the final analysis, the voters will decide if they prefer the status quo or they desire change in their circumstances.

     Happy New Year!

  • Fayose denies making negative comment on Omisore’s chances

    Fayose denies making negative comment on Omisore’s chances

    The Ekiti State governor- elect, Mr Peter Ayodele Fayose, said he did not  make a damaging comment on the chances of the Osun State Peoples Democratic Party (PDP) governorship candidate, Iyiola Omisore, to win the August 9 governorship poll as reported by social media recently.

    According to a statement issued in Ado Ekiti yesterday by Fayose’s Chief Press Secretary, Mr Idowu Adelusi, and made available to the press, Fayose said his “preoccupation for now is for Omisore and the PDP to win the election and I am doing everything possible to see that it becomes a reality.”

    He said the PDP would take over Osun State after the August 9 election .

    He urged the Osun PDP members to remain united and ignore any negative news item, particularly on the social media, with the intention of causing disunity among the PDP leaders.

    Fayose urged all voters in Osun State to secure their permanent voter cards in order to have the opportunity of casting their votes for Omisore in the election.