Tag: Nigeria

  • Nigeria, Zambia will be like Cup final-Yobo

    Nigeria, Zambia will be like Cup final-Yobo

    Nigeria’s Captain Joseph Yobo has vowed that the Super Eagles will approach their next match against champions Zambia with more determination.

    Yobo told newsmen shortly after a last-minute loss of concentration at the Nations Cup in South Africa, had caused his team to fritter away aone-goal lead gainst Burkina Faso with just three minutes left for play.

    Nigeria led all the way from the 23rd minute, when Emmanuel Emenike scored, only to concede a goal in the last seconds of the match against Burkina Faso in group C of the tournament.

    The draw has put Nigeria in a tight corner, especially in its next match against Zambia on Friday.

    Zambia drew its opening match with Ethiopia, meaning it will also be desperate for a victory in its next match, a situation that will make Nigeria to work extra hard.

    “The match against Zambia is going to be like a Cup final because we want to make sure that we qualify for the next stage,’’ Yobo said after the Burkina debacle.

    He conceded that the 1-1 draw with Burkina Faso was far from what Nigeria had expected, adding: “as far as the result is concerned it wasn’t the best start for us. We were supposed to win this game; it is like a lost game to me.’’

    Yobo, however, praised Burkina Faso, saying the team deserves credit for finding the equaliser.

  • Nigeria raises OPEC’s December output to 30.37m bpd

    Nigeria raises OPEC’s December output to 30.37m bpd

    Increased oil production from Nigeria contributed to raising the Organisation of Petroleum Exporting Countries’ (OPEC’s) December 2012 output to an average of 30.37 million barrels per day (mbpd), indicating a decline of 0.46 mbpd from 30.83 mbpd recorded in November, report has shown.

    OPEC, in its January 2013 monthly oil market report, said secondary sources revealed that total OPEC crude oil production averaged 30.37 mb/d in December showing a decline of 0.46 mb/d over the previous month.

    “Crude oil output saw an increase from Nigeria and Angola while production fell in Saudi Arabia, Iraq, and Iran,” the report said.

    According to the report, preliminary data indicates that global oil supply dropped 0.10 mb/d in December 2012 compared to the previous month. The decline in OPEC crude oil production in December impacted the global oil output which was partially offset by the increase in non-OPEC supply. The share of OPEC crude oil in global production declined slightly to 33.6 percent in December. The estimate is based on preliminary data for non-OPEC supply, estimates for OPEC natural gas liquids (NGLs) and OPEC crude production from secondary sources.

    The market report said that in 2013, non-OPEC supply is forecast to increase by 0.93 mbpd over the previous year to average 53.92 mbpd. The current supply expectation indicates an upward revision of 85,000 bpd to total non-OPEC supply, while anticipated growth was revised up by 30,000 bpd from a month earlier. The upward revision to total non-OPEC supply was due to the carry-over of some of the revisions introduced to the 2012 supply estimates, as well as to various updates to individual supply profiles. On a quarterly basis, non-OPEC supply is expected to average 53.84 mbpd, 53.61 mbpd, 53.91 mbpd and 54.49 mbpd, respectively.

    The reports also noted that global fiscal uncertainties still persist. It said: “For the past weeks, the outcome of negotiations in the US to avoid the ‘fiscal cliff’ – a term that describes the automatic spending cuts and tax increases set to take place at the beginning of 2013 – has been a major uncertainty hanging over the United States economy. Despite recent data showing an improvement in the country’s economy, the lack of clarity about the outcome of these talks over the past months led to a deceleration in business spending and investments at the end of the year, as well as a decline in consumer confidence.”

    On world oil demand, the report said: “World economic turbulence has affected oil demand in the past few years. Nevertheless, its effect on this year’s oil demand is not expected to be as sharp as last year, but instead considerably milder. As in the previous year, oil demand will grow in 2013, but not without some degree of uncertainty. The US economy is seen to achieve 2.0 percent growth, leading to more stable oil consumption.

    “The Euro-zone was able to somewhat contain its unknown fate of uncertainty. The spill-over effect on other economies will certainly be felt, especially in China. Given the positive momentum in some Organisation of Economic Cooperation and Development (OECD) economies, China’s exports and investments are picking up and showing better results. The OECD region will consume less oil than last year; however, the decline will be reduced by almost a half.

    “The non-OECD region will consume about one million barrels per day more than last year. It is worth noting that some parts of the non-OECD region will experience less economic prosperity than anticipated. Their demand will grow, but at a slightly slower pace than last year. The transportation and industrial sectors will consume most of the oil this year, and most of the growth will be related to both industries.”

  • AFCON: Burkina Faso vows to shock Nigeria

    AFCON: Burkina Faso vows to shock Nigeria

    Burkina Faso coach Paul Put said he hopes to upstage Nigeria in Monday’s Group C match in Nelpsruit to get off to a winning start.

    Nigeria has not lost to the Stallions in six meetings.

    The Super Eagles has won four and drawn two of these matches, while both sides have clashed only once at the African Cup of Nations in 1978, when Burkina Faso was known as Upper Volta.

    Nigeria ran away with 4-2 victory in that encounter.

    Put said his team will go for a winning start against a Nigerian team known for its individual talent but has struggled to play as a team.

    “We need to win our first game at all costs to give us the confidence we need,” MTNFootball.com quoted the Belgium-born Put as saying on Sunday.

    “Nigeria has players playing in major championships such as in England and Italy, but having individually talented players does not necessarily mean the team is a great one.”

    Nigeria will still be favourites to win this game but both Eagles players Efe Ambrose and Ahmed Musa told MTNFootball.com they will not take Burkina Faso lightly because they wish to begin their campaign also on a winning note.

    “We are going for victory in our first game against Burkina Faso. It is very important to win it because it will put us on good footing,” said Musa, one of 17 players who are making their AFCON debut in South Africa

     

  • Nigeria a giant by 2050?

    Nigeria a giant by 2050?

    Forecasters are at it again. A projection has gone out that Nigeria may, by the year 2050, become one of the world’s leading economies, enjoying a handsome 13th position among 20 nations of the world. The forecast, published last week, came from PricewaterhouseCoopers, an accounting firm. It sounds good, doesn’t it? In fact, the report suggests that even lowly Vietnam could also join Nigeria in outpacing such developed economies as Australia in a mere 37 years. The reason for this, PwC economists believe, is that developed economies are still struggling to recover from the recession of 2008 and 2009, while emerging ones like Nigeria and Vietnam have been “relatively insulated despite the slowdown of 2011 and 2012.”

    According to the projection, the area Nigeria may out-muscle other economies is in purchasing power parity or PPP. Economists say PPP is a theory which states that “exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.” They explain that this simply means “the exchange rate between two countries should equal the ratio of the two countries’ price level of a fixed basket of goods and services.”

    Non-economists, like this columnist, understand this to mean that by 2050, the naira could be strong enough to fetch Nigerians goods and services of appreciable value, not minding the geographical location. By this lay perspective, the miserable, flip-flop tale of our national currency would have since been forgotten, replaced by a respectable profile of power and value. By this same unsophisticated appreciation of the PPP forecast, I should hit the roof for the good times are not so far off.

    But I won’t, for this piece of projection hangs on nothing else but a mighty, big IF. Nigeria can become an economic giant in the world IF…Nigeria can be a giant in the world IF it can put a few things in place. Nigeria can overtake the leading economies, all things being equal.

    That is the language of economists; it is their stock-in-trade.

    The accounting firm’s forecast makes little sense to me, for obvious reasons. It reminds me of the 2020 mantra much trumpeted by the late President Umaru Yar’Adua administration. It was projected that by 2020, which is now only seven years away, Nigeria will be among 20 industrialised nations of the world.

    Industrialised nations are giants. As such, they have power and voice. As giants, they are reckoned with. When their leaders speak, no one pretends not to hear. That was the league our country was projected to join by the year 2020. But as everyone knows, no nation climbs to that platform merely by imagining it just because motivational speakers say whatever your mind can conceive you can achieve. Everyone knows that no nation attains giant status without stable electricity, good infrastructure and, crucially, a credible anti-corruption stance.

    PricewaterhouseCoopers even reckons, though, that nothing is easy. “Nigeria,” it said in that projection, “could be the fastest growing country in our sample due to its youthful and growing working population, but this does rely on using its oil wealth to develop a broader based economy with better infrastructure and institutions as regards rule of law and political governance and hence support long term productivity growth –the potential is there, but it remains to be realised in practice.”

    Now, that’s where the frustration of these forecasts lies. We all, including non-economists, know what the forecasters know. They know, like we do, that our oil should make us wealthy. The economists, like all of us, know that we have a young, schooled, skilled and energetic population, willing to work and turn their country around. We know that we have all it takes to join the big league.

    But just as all that is clear, so is it also beyond question that we are our own biggest enemies. It is paradoxical. Nigeria’s potentials have so far failed to enrich it. Its oil has not lubricated its engines. Rather it has remained a source of perpetual worry, eliciting a pile of questions. Why, for instance, have otherwise lowly nations, without oil, even in Africa, outpaced us in development? PricewaterhouseCoopers believes Nigeria’s oil can support “a broader-based economy” but why has that economy continued to elude us? We know that nothing can be impossible for us and that we can do all things with the riches God has lavishly given us. What we don’t know is why even the simplest of things seem too difficult to accomplish.

    Forecasters seem to wonder why our infrastructure is woeful. They worry about rule of law. They are concerned about governance, about accountability. They know that these things matter.

    Truth is, so do we. We have always known what they know. So, what use are their projections?

  • UK to support Nigeria’s fight against terrorism

    UK to support Nigeria’s fight against terrorism

    The United Kingdom will increase its support to Nigerian military in the fight against Boko Haram and other terrorist groups in the West African sub-region, particularly Mali.

    The new British High Commissioner to Nigeria, Dr. Andrew Pocock, told journalists in Abuja on Friday that London has great interest in Nigeria in view of its size, resources, importance in West Africa, the continent and the world as a whole.

    He said: “Sadly, terrorism in the northern part of the country has taken many lives and is damaging economic and developmental prospects; and increasingly, the daily struggle of too many poor people.

    “Nigeria and the UK have a shared agenda not just to address security in the region, but worldwide. Nigeria is not alone in the fight against terrorism in your country. We are with Nigeria considering our interests here.

    “We have a long history of military cooperation which we hope to expand. Nigeria is not alone, West Africa is not alone and Mali is not alone.

    “The UK has experience of its own, which it is already sharing with the Nigerian authorities. What is happening in Nigeria is part of the Sahelian problem just like what is happening in Mali.”

    Stressing that fight against terrorism requires an integrated political, economic, security and human rights approaches, Pocock said that one of his cardinal objectives in Nigeria is to reduce terror threat in the sub region.

     

  • Nigeria on their minds

    Academics, politicians and business tycoons gathered in Lagos to brainstorm on the state of the nation. AKEEM ALAWOKI and JUMOKE IDOWU were there.

    The gathering was for a few invited guests. They comprised academics, politicians and successful businessmen. It was put together by Chief Tunde Temionu.

    The idea was to discuss the state of the nation in a cheerful atmosphere.

    Though the symposium was to discuss Nigeria; it was also an avenue for merry making.

    The event took place on December 31, last year, at the Private Event Hall of TEM Hotel, Ojota.

    Guests were served with choice foods and drinks immediately they got to their seats.

    For some, it was a re-union of sort. Old time memories were recalled with laughter. They equally exchanged banters.

    The hall glittered with various kinds of ceremonial lights as highlife music was played underground.

    Chief Temionu, clad in a red shirt and a fitting black pair of trousers set the ball rolling. He thanked the guests for honouring his invitation.

    “By this time last year, he said, we talked about the fuel subsidy removal…we agreed that it should be deregulated. This edition is going to be another interactive get-togethere because we are discussing states’ creation,” he said.

    He then introduced the quartet speakers.

    Prof. Kolawole Adebayo from the Federal University of Agriculture, Abeokuta, was the first to make presentations.

    He gave a concise history on the birth of Nigeria and state creation within her territory. Afterward, he said, “No civilian administration has sat down to create a state.”

    Adebayo brought to the fore opinions of some Nigerians who are against the creation of more states and those who support the move.

    “Some of those who are against the creation of more states argue that the existing states are faced with many challenges which include: environmental, industrial and erosion cum agricultural challenges and augmenting the existing states to becoming bigger entities is the solution rather than splitting them further,” he said.

    He said: “Those in favour of state creation opined that it will mean bringing the government closer to the people and that some of the existing states are too large and need to be split into smaller entities”.

    Adebayo, however, advised that whichever path the government chooses to follow, they should ensure that the country returns to agriculture.

    He said:”Agriculture offers the highest level of commerce any country can get. You will recall that when Nigeria used to be an agrarian country, Kano’s groundnut pyramid was feeding not just Nigeria but other countries. Cocoa industry in the South-west did well to build a strong economy for the Western region. Oil palm dis same in the South-East,” he said.

    Prof Adebayo advised the government to put in place a uniform agricultural policy for the development of the country.

    Other discussants were Kwara State University senior don Prof. Innocent Okoye; University of Lagos Head of English Department, Dr. Adeyemi Daramola; and former Deputy Vice Chancellor, University of Lagos, Prof. Olushoga Shofola.

    Prof Okoye thanked the organiser for giving them the opportunity of expressing their views on a national issue.

    “I want to thank Chief Temionu for the opportunity to rub minds even as we enjoy ourselves.”

    He said Nigerians believe in togetherness but some things must be corrected.

    “Most Nigerians are still interested in living together, but they want some changes in the following areas: creation of more states, true federalism, resource control, good leadership; among others,” he said.

    He said the ongoing constitutional review will not solve the problem rather a national conference should be convened.

    According to him, the constituent state must be given the right to control their resources.

    Dr Daramola thanked his fellow speakers for a thorough job and astute delivery.

    Prof. Daramola maintained that more states should not be created.

    “If we create more states, he said, people will keep clamouring for more states that every family will want to have its own state.”

    Prof. Shofola acknowledged other speakers before making reference to the defunct USSR.

    The former Deputy Vice-Chancellor was very brief with his presentation. To him, creation of more will not solve the problem if the states are not autonomous.

    “I believe there must be an resource control (by the state). We should see how to restructure the state to be independent federating unit where each unit has control over everything,” he said.

    Former Lagos State Commissioner for Local Government and Chieftaincy Prince Rotimi Abisoye said: “I do not want anymore state, what I want is good leadership, because if we have good leadership, we will have regular power supply; good roads. What we need to do is to weaken the centre. If we can’t weaken the centre, we can’t move forward.”

  • Nigeria, as it could be made (3)

    I will not dare to think that this grave we dig today shall bloom tomorrow. But it could. Nigeria could become that mass grave we dream to bury the shoots of nationhood and bliss nurtured by men we may never measure up to. But this is hardly about the founding fathers in whose hands Nigeria pirouetted and prospered.

    This is about you and me. This is about our knack for turning logic on its head to complement our innate greed and perversions. If we could help it, Nigeria would die on our watch, today. This minute, every civil dream and seed of State shall evaporate, if we could incite our will to humour our wile.

    We think Nigeria is a mistake. But Nigeria was never a mistake. It is never the mistake. You and I are the mistake. You and I are the emblems of hope serving as crops of wrath where covetousness and deceit whets inhuman appetites.

    As you read, the myth of war and secession holds fast. Despite the bitterness that trails the Nigerian civil war, characters that ought to know better acidly pronounce the necessity of war and violent secession like the next best thing that could ever happen to you and me.

    This myth holds particularly among the youths because it is all they could manage today. War and separation remains appealing to the Nigerian youth not just because politicians, activists and journalists of vulpine intent and intellect claim it’s our next best alternative, our youth lust for war and secession because the idea offers fleeting moments of sentimentality that reinforces their dreams of acceptance and self-worth. Even those who know it to be a farce are loath to jettison that infectious romanticism that gets them giddy as overfed cattle gorging on barn supplies.

    The youth are told that the only times in their lives that they would be worth something and enjoy a hopeful reality is when they agree to serve as cannon fodder for the total balkanization of the Nigerian State.

    They do not know the import of the politics they perpetuate. It’s not about defending the interests of a minority tribe nor is it about paving the way for a more responsible and humane government. It’s about working for some tyrant activist who works for some rich and privileged cabal with all manners of interests.

    Many have made a case for a Sovereign National Conference (SNC). They argue that if Nigeria is to move forward or attain progress of any kind, we must sit down to reconsider and decide if really it would serve everyone’s interest to preserve the Nigerian dream.

    I agree that the nation needs to sit down to deliberate over the most dependable and progressive path forward. However, it would be the greatest fraud and disservice to you, me and posterity if we claim that splitting Nigeria remains the most practicable solution to our grief.

    The very voices that cry for a referendum will get to the SNC to pound drumbeats of dissolution and rancor. Suddenly they will become strange to relate, largely silent or antagonistic to the preservation of the Nigerian State. It is alright for a people to determine what course of action would best serve their interests but it would be suicidal for us all to believe that our travails shall end in a new Biafra, Federal Republic of Oodua or United States of Arewa.

    In every new, independent nation we build, there shall be no secure civilization or the usual securities by which a nation thrives. That is because whatever new States we create shall comprise of ignorant, turbulent proletariat stymied by crushing poverty and interminable penchant to play dumb. Such manner of working class or grassroots would as usual be dominated by the same ruling class whose insensitivity and wile informs our desire to separate.

    Were the nation’s legislature at its best not a coven of rats and perfidious bums, there would be no wisdom in the convention of a sovereign national conference. But the Nigerian legislature is what it is and you and I are to blame for it.

    There is a better life to be had by the Nigerian dream if our youth could endeavour to look inwards and channel that latent reserve we’ve scorned for ages. It is about time we understood that in any new nation we get to create, the current youth shall never become part of the ruling class.

    As it is now in contemporary Nigeria, every new leadership we have in every new nation we create shall effortlessly dominate us and impose upon us their children, relatives and political associates while they make labourers and thugs of the youth by whose blood, bestiality and sweat whatever new nation was achieved.

    The choice is ours to make; we either choose to remain a bunch of fools and clueless agitators or we could choose to leave the current leadership to the madness it perpetuates while we chart fresh paths to the future of our dreams.

    Some of our greatest problems in this country, besides corruption, are racism and greed. However, the Nigerian youth need not be handicapped by these but we seem not to know that. The future of Nigeria lies in our hands. Sovereign National Conference or not, no solution or highfaluting socio-political or economic policy would work under the leadership and citizenship of unrepentant racists and self-aggrandizing characters like you and me.

    It is time to heal. It is time for the Nigerian youth to take its rightful place in the scheme of things. I will never tire from saying that it’s about time we sought and identify our own candidate – the untiringly just and humane candidate. And let it be known that we shall never find such candidate amidst the coven of predators to whom we have learnt to serve as prey.

    In order to heal, the Nigerian youth need to create and unite under a socio-political platform immune to and jealously guarded against the madness of materialism, racism and intractable wile.

    We need to identify the demons that drive the ruling class and dispossess our minds of every vanity that makes us habitable to similar fiends. The tragedy of our generation subsists in our seemingly uncontainable prospects and our desperation to be lorded over and contained, at a price. We are more endowed in intellect and humanity than the current ruling class. Thus let us not continue to serve as disposable pawns in its politics of bitterness and plunder. Rather let us seek to foster such political base as I advocate in the interest of you and me.

    It is time to heal and while the healing of our seemingly vast sores is progressing, the Nigerian youth, irrespective of personal politics and tribe, should learn to live and strive, united in common effort, in pursuit of a common government, sensitive to mutual thought and feeling, yet subtly and silently separate in matters of politics and individuality.

    If this unusual and unpredictable development is to flourish amid peace and order, reciprocal respect and budding intelligence, it will call for that truest and most dependable social surgery I advocate: revolution by the ballot system.

    To be continued…

  • Nigeria retains 52nd position in FIFA ranking

    Nigeria retains 52nd position in FIFA ranking

    There was no movement for the Super Eagles of Nigeria in the January rankings released Thursday by FIFA as the country maintained her 52nd position in the world.

    Like Nigeria, who also maintained ninth spot in Africa, many other countries were static as there were very few changes in the ranking with only 11 matches taken into account, including six that were actually played in 2012.

    World and European champions Spain continue to lead the way ahead of Germany, Argentina, Italy and Colombia, who are still close together in the chasing pack, futaa.com reports.

     

  • ‘Jonathan can’t change Nigeria’

    An Aba-based rights group, Concerned Advocate for Good Governance (CAGG), has said President Goodluck Jonathan lacks the vibrancy to change Nigeria for the better.

    Its National Coordinator, Mr Olusegun Bamgbose, at the weekend said the group, after an appraisal of the Jonathan administration, concluded that the President lacks the charisma and stamina to successfully pilot the affairs of the country, contrary to his 2011 supporters’ expectations.

    Bamgbose said: “This has become obvious in his (Jonathan’s) statements and actions so far. He lacks what it takes to move Nigeria forward. He has failed woefully to match words with action.

    “In the area of economy, he has not distinguished himself as a leader that has what it takes to tackle the economic problem. In the area of employment, the You Win programme has failed right from its inception.”

  • Glo to Eagles Make Nigeria proud

    Glo to Eagles Make Nigeria proud

    LEADING Telecommunication operator, Globacom, has called on the National team, Super Eagles to make Nigerians happy by putting up superlative performance during the forthcoming African Cup of Nations scheduled to begin in South Africa on Saturday, 19th January, 2013.

    Globacom in a press statement issued in Lagos on Monday advised the Eagles to tackle every match from the group stages with determination and zeal to win, adding that this will guide them progressively to the final stages of the competition.

    “The group matches are very crucial and the Eagles must emerge victorious to lead the group,” the statement added.

    Globacom therefore advised the team to work very hard and defeat the Burkinabe’s in the first match in order to make the subsequent group matches less cumbersome.

    The Company also acknowledged and commended the rebuilding process undertaken by the Stephen keshi-led technical crew.

    “We are monitoring the preparation being made by the Nigeria Football Federation and we are calling on Nigerians to support the team right from the first match against Burkina Faso,” Glo added.

    The Telecoms giant wished the Super Eagles a successful outing in the 2013 African Cup of Nations.

    Globacom is the major partner of the Nigeria Football Federation and official sponsor of Nigerian national te