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Tag: urges

  • Embrace fiscal discipline, IMF urges African oil exporting countries

    Embrace fiscal discipline, IMF urges African oil exporting countries

    The Director, African Department of the International Monetary Fund (IMF), Ms. Antoinette Sayeh, has called for fiscal adjustments among African oil exporting countries  in view of the downturn in revenue and limited buffers.

    Ms. Sayeh, who addressed the Africa Region reporters at the ongoing Spring Meetings of the World Bank and the IMF at the weekend in Washington DC, United States (U.S.), said spending cuts should be directed to the extent possible, not only to non-priority recurrent expenditure, arguing that significant cuts in public investments are unavoidable. Where feasible, exchange rate flexibility will also be important, to preserve scarce external reserves, she added.

    Ms Sayeh said the drop in oil prices also provides a unique opportunity to advance politically difficult energy subsidy reforms across the region.

    She said: “From a more medium-term perspective, the current commodity price shock is also a powerful reminder of the need to make more rapid progress towards economic diversification and structural transformation to ensure strong and durable growth.

    “This will require striking the appropriate balance between scaling-up outlays on human capital and infrastructure development and avoiding an unsustainable public debt built-up.”

    Besides, she urged countries in the region seeking to raise funds through sovereign bonds to be wary of exchange rate volatility  – especially with the U.S. dollar, which has recently risen in value.

    On growth, she was very bullish, stressing that countries in the region will expand by 4.5 per cent and will “continue being one of the fastest growing regions in the world-in fact, second only to emerging and developing Asia.”

    Acknowledging that the region’s eight oil exporters including Nigeria, will be hard hit by the falling oil prices, Sayeh stressed the need for spending cuts, diversification of the economy,  exchange rate flexibility and structural transformation to ensure strong and durable growth.

    Oil prices have plunged by more than 50 per cent since June last year, curbing revenue and investment plans in Nigeria which relies on crude proceeds for about 75 per cent of government’s revenue.

    Foreign reserves, which the Central Bank of Nigeria (CBN) uses to defend the naira, have also slumped to $29.514 billion as at last Monday.

    Reacting to these developments, the Federal Government late last year announced a set of austerity measures, which  included cancellation of overseas training for civil servants and the introduction of luxury taxes for certain goods and aircraft, among other cost-cutting measures.

  • Amaechi urges peaceful governorship, assembly elections in Rivers

    Ahead of next Saturday’s governorship and state assembly elections, the Governor of Rivers  State, Rotimi Amaechi, has stated that the eyes of the world will be on the state, stating that the people of the state can collectively set a better example by being law abiding and peaceful.

    Governor Amaechi was reacting to the conduct of last Saturday’s Presidential and National Assembly elections in the state, which he had described as a sham.

    Amaechi, the Director-General of Buhari/Osinbajo Campaign Organisation and the Chairman of Nigeria Governors’ Forum (NGF), also pleaded with the persons he might have offended for forgiveness, stressing that it was not deliberate.

    The governor spoke yesterday in a broadcast to the people of the state on the need for peaceful conduct during the governorship and state assembly elections on April 11, lauding the people for standing by him and his administration in the past eight years through many trying moments.

    He said: “It is with great pleasure therefore that I address you today as we set our eyes on the governorship election, scheduled for Saturday, April 11 2015, to elect the administration to complete the job we started.

    “Elections in Rivers State should be about equity and our peaceful co-existence as a people. It should be about encouraging those who aspire to office to work in the interest of the people. I am optimistic that these elections will be historic for us now that the whole world is watching and waiting to see the outcome.

    “As a nation, we have already set a good example for the whole of Africa in showing that we can decide our affairs devoid of rancour and violence. I am therefore confident that as a state, we can follow this trend as we head to the polls on Saturday for the governorship and House of Assembly elections.

    “As a government, we have worked with you to make history in our state. We believe firmly in the resilient power of the people to determine what is best for them. Over the past eight years, we have worked hard to make this possible. On April 11, we have a choice to continue this progress or endanger it. We call on everyone to turn out on Saturday, April 11, to be counted as history makers.

    “Despite the marginalisation of millions of our people at the Saturday’s presidential and National Assembly elections, we cannot lose faith in our country or in democracy. The frontline contenders for Presidency in the March 28 elections have taught us this much. Our President Goodluck Jonathan who conceded the elections and congratulated the President-elect, Gen. Muhammadu Buhari, and the President-elect, who commended the statesmanship of President Jonathan. Indeed, as good leaders, they have left us a great example and their conduct should define ours in the coming days.

    The Rivers governor also reiterated that his administration was finally winding down to the finish line, stressing that but for the great company of the people of the state and their incredible support, it would have been a much more difficult journey.

    He noted that in the days ahead, Rivers peoples must continue to close ranks for even more battles.

    Amaechi said: “We should never be deterred, because the battles are not ours alone. God is on our side and victory will always be His. You will recall that a few months ago, we embarked on a journey to seek a new direction, not just for our state, but also for our country. That journey culminated in general elections. The first part took place on March 28. The second part will take place on April 11.

    “I was indeed pained when on a visit to Igwuruta town (Rivers State), I met a woman who complained that her children could not go to school, because they could not pay the examination fees introduced by head teachers to address some of their funding issues.

    “May I, in the spirit of the Easter, appeal to all those who may have been offended by my actions or inactions to forgive me. As your governor, elected to serve you, we have always meant well, and will always mean well.”

    The Rivers governor also assured that as his administration would be winding down, he would do everything to ensure that he fulfilled his promises and would give them good reason to be glad that they are Rivers people, proud, resilient and greater together.

  • Okon urges Falcons to step up

    Okon urges Falcons to step up

    Super Falcons head coach, Edwin Okon, is delighted with the progress made by his team since they converged in Abuja for the All African Games (AAG) Qualifiers, Olympic Games Qualifiers and World Cup assignment in March. The coach has been working with a team dominated by a pool of Nigeria Women Premier League stars ahead of the tasks that lie ahead.

    Falcons are yet to play any Grade A international friendly match, a situation that has called for concern from women soccer pundits, as the team have a tough World Cup Group that comprises USA, Sweden and Australia.

    Last Saturday, Falcons were forced to a 1-1 draw by their Malian counterparts in a first leg AAGQ in Bamako – and have been on break as a result of the election.

    ”I’m delighted with the progress of my team since we resumed for the assignments ahead of us. The Malians gave us a good fight, but we can’t complain. I believe we would complete the job here in Nigeria” Okon told SL10.

    Okon said Grade A friendly matches will offer his wards a tough challenge as the side intensify preparations for the World Cup.

    “The Federation have been trying their best, but like Oliver Twist we are asking for more. We need games to sharpen our skills,”said he.

    Okon charged the players to work harder when camp resumes on Tuesday, insisting that the Malians will not be easy to crack.

    ”I’ve spoken to the players on the need to step up their games and prove themselves worthy ambassadors.

    ”Mali will be a tough challenge for us but we will put them where they belong,” the coach added

  • Eschew violence, PCRC urges electorate

    The Police Community Relations Committee (PCRC), Meiran community, Agbado / Oke-Odo Local Council Development LCDA, Lagos State, has urged voters to shun violence in order to ensure a free and fair election.

    The advice came on the heels of a sensitization rally staged by the group aimed at creating awareness on the dangers of electoral violence in the country.

    The rally, which took PCRC members to every nook and cranny of Agbado / Oke – Odo LCDA, commenced and terminated at the Meiran Police Division.

    Speaking during the occasion, Chairman PCRC, Meiran Police Division, Prince Adebisi Osideinde, called on the electorate to participate fully and peacefully in the March 28 and April 11 general elections, to ensure they get the leadership they desire.

    Osidehinde said the campaign with the theme, “Security Awareness for peaceful Elections” was organized at urging Nigerians to eschew ethnicity, tribalism and nepotism in the choice of who governs them. He called on electorate and politicians to draw inspirations from the national anthem of the country, to arise and serve diligently and faithfully.

    He said: “This election is for and by Nigerian people and it must be free, fair and held in such a way that it will deepen the nation’s democracy such that at the end of the electoral process, Nigeria must be the winner. We call on Agbado / Oke – Odo LCDA residents to eschew every form of violence. The prevalent do-or die attitude is unnecessary, unhelpful and unhealthy for our system of democracy. We must all say “no” to violence before, during and after the elections”.

  • Oshiomhole urges probe of hotel worker’s death

    EDO State Governor Adams Oshiomhole has urged the police  to probe the circumstances leading to the death of Chibuike Ede, an employee of a Five-Star hotel in the state, who was accused of theft and died in their custody.

    Speaking to the family and friends of the deceased, who staged a protest to the Government House, Oshiomhole said: “Let me thank you for coming to the Government House to lay your complaint in a peaceful manner despite the pains in your heart and the murder of your son, your brother and our comrade. I read about this yesterday and the impression I was given was that he was handed over to the Police.

    “Whether or not the young man was a thief, whether or not the money was found on him or he threw it across the wall is not the issue. There is a law; there is procedure to be followed to probe alleged stealing, even alleged murder. The police can listen to complaint from anyone who has cause to complain or report theft or any crime or suspected crime to the police.

    “The responsibility of the police stops at arresting and investigating  a suspect. They do not have the right to kill, to maim, to brutalise and to murder anybody. That is not acceptable. The responsibility of the police in our constitution is clear; to protect life and property and they are law enforcement agencies, they are not to execute people who are suspected of crimes. They are to arraign suspects in court and ensure that suspects are prosecuted according to our laws.

    “Nothing empowers anyone, whether the President, the governor, the police commissioner, the AIG, none of us has the right to order the killing or condone the killing of any Nigerian, even if that Nigerian is a known criminal, only the court can do so.

    The spokesman of the family Mr. Tochukwu Ede, said: “Some days ago, this boy that was brutally slaughtered, Chibuike went to work at the hotel. He called around 5 pm that he had been arrested for allegedly stealing N42,000. This is the same boy that has worked in the hotel for two years now and they pay him N40,000 every month of which N10,000 is removed every month as savings for them. They said the boy stole money, yet they did not deduct the money from his savings with them, which is over N200,000, instead they arrested him.

    “On getting to the station, we gathered money to give to the hotel management so the boy could be released and they said it was no longer N42,000 naira but N48,000. We went and looked for the remaining N6,000 only to return and be told the boy was dead. We went around doing our own investigation, this was a boy that was inside police custody but his body was found at Imaguero College.

    “The police PRO said the boy confessed to the crime. This is a boy that worked in the hotel for two years that they gave best staff award, a boy that returned $3,000 in the same hotel; the same boy you said stole N48,000. They said he was knocked down by a vehicle, yet we didn’t see the vehicle or the driver. We made investigation on Sapele road and gathered that nothing of this nature happened there. They brutally murdered an innocent boy that had a promising future.”

  • Come clean over Nigeria-Morocco diplomatic row, APC urges Jonathan

    Come clean over Nigeria-Morocco diplomatic row, APC urges Jonathan

    PRESIDENT Goodluck Jonathan Administration has been urged to tell the citizenry the cause of the ongoing diplomatic row between Nigeria and Morocco.

    The controversy has forced the kingdom to recall its ambassador and portray Nigeria as a liar.

    The All Progressives Congress (APC) National Publicity Secretary, Alhaji Lai Mohammed, who said this in a statement in Lagos yesterday, added that the president must clarify the thorny issue of whether or not he spoke with King Mohammed VI of Morocco.

    ‘’According to published reports, the Nigerian Foreign Affairs Ministry had said President Jonathan spoke on the telephone with the Moroccan King. But the kingdom, in a very scathing statement, said no such conversation took place.

    “The statement said ‘Morocco is surprised at the incredible twist given by Nigeria to an alleged phone conversation that never took place between HM King Mohammed VI and Nigerian President’.

    “This is very serious because, in effect, Morocco has called Nigeria a liar. Therefore, it behooves President Jonathan to personally intervene to address such an international embarrassment.

    “The questions seeking answers are: Did President Jonathan speaks with the Moroccan King? If not, who is responsible for this egregious misrepresentation that has embarrassed a whole country and its leader?” the statement queried.

    The APC counseled that Nigeria, because of its much-acclaimed leadership role in Africa, must not allow such a diplomatic faux pas to go without being addressed, saying other countries are keenly watching the row between Nigeria and Morocco.

    APC added: “Before anyone accuses us of politicising this issue, we make bold to say that we, the APC, and indeed all Nigerians are stakeholders in the Nigeria project. When Morocco branded Nigeria a liar, over whether or not our President spoke with the North African nation’s King, it did not mention PDP or APC. It made a collective reference to Nigeria.

    “This is why we feel strongly that this issue must be addressed urgently. Until then, all Nigerians, irrespective of their political leanings, will remain liars in the eyes of the international community.”

  • Boko Haram: DSS urges vigilance

    Boko Haram: DSS urges vigilance

    The Department of State Security (DSS) has advised  the public to remain  vigilant as the military continues raids on Boko Haram’s   fortresses and hideouts in the Northeast..

    Spokesperson for  the DSS, Ms. Marilyn Ogar said the terrorists have resorted to taking on soft targets, killing and maiming of innocent and unarmed citizens.

    “It has become evident,” she said  “that following the successful sustained air raids and intense combat operations by the military on insurgents’ positions in the Northeast, which have effectively degraded the capacity of the terrorists, its members are now in disarray and have resorted to taking out their anger on hapless civilians and soft targets.

    “This development accounts for the recent spate of attacks recorded in Yobe, Kano, Borno and Plateau States with intent of distracting security forces.

    “Accordingly, this Service wishes to advise members of the public to be vigilant, especially in crowded environment and when travelling. Commuters should desist from boarding unmarked vehicles along the road and only use designated motor parks. “

    The agency asked  motor park managers to ensure proper screening of vehicles, persons and luggage entering their premises,and be on the look out for new faces who show up as drivers and conductors.

    It encouraged residents of recaptured towns and communities to return to their homes,saying “there is no need for people to relocate from any part of the country because of the forthcoming elections as adequate steps have been taken by security forces to guarantee security of lives and property.

    “Members of the public with useful information of untoward activities in their localities are advised to forward same to security agencies. We wish to restate once more, the commitment of security forces to bring to an end the activities of terrorists and unscrupulous elements in our country”.

  • ‘Stakeholder urges review of auto policy’

    ‘Stakeholder urges review of auto policy’

    An auto dealer and Chairman of Oris Velvet Autos, Chief Alfred Omoghiade,  has called on the Federal Government and its agency, the National Automotive Council, to take urgent steps to review the current auto policy in the interest of the nation’s economy.

    In a statement, he said the call was imperative against the background that the auto policy was implemented, is not delivering on its projected benefits, but rather, it is harming the industry and the economy.

    The policy came into effect early July last year with the aim of localising the manufacturing of vehicles with the assembly plants projected to roll out an aggregate of 300, 000 vehicle units within the next two years and specifically, 23, 000 vehicle units of various brands of automobiles produced by the plants between June and December 2014.

    The policy, in the thinking of government, would not only help to reduce the pressure on foreign reserves by discouraging importation, but also lead to massive job creation and enhance the wellbeing of the economy. Accordingly, with the full implementation of the auto policy, tariffs jumped from 20 percent duty on passenger cars (PC) and 10 per cent on commercial vehicles (CV) to 70 per cent and 35 per cent respectively.

    But in his evaluation of the policy at the weekend, Omoghiade, said the Federal Government should as a necessity wade in and review the policy especially in view of the prevailing economic situation.

    He faulted the implementation of the policy, saying it has failed to yield the expected dividends because the local production of cars and vehicles as key elements of the policy, is not being met just as the nation is losing much revenue at the ports. He also pointed out that the policy has led to job losses at the ports and retarded business activities of other stakeholders.

    He noted that while the policy was a noble vision but that the implementation had been hasty leading to contradictions and no concrete benefits yet to the nation as planned.

    “Having implemented the auto policy this far, it is becoming incresingly clear that the anticipated objectives are not being realised and it is a well thought out suggestion that the Federal Government and the National Automotive Council should take a second look at it and review it accordingly. Based on certain fundamentals in the nation’s economy, the auto policy ought to have been given at least10 years of incubation before its full implementation. This is to ensure that the right enabling environment is in place and consequently guarantee its success.

  • Union urges release of N50b facility

    Union urges release of N50b facility

    The Agro-Allied Commodities Cooperative Entrepreneurship Multi-Purpose Union, has urged the Federal Government to release N50 billion out of the N220 billion Micro, Small and Medium Entreprises (MSME) loan from the Central Bank of Nigeria (CBN) to its members.

    The group said it has utilised and refunded previous credit facilities extended to it by the government, adding that  the government should hasten the release of the fund.

    Its President, Prof. Victoria Adesuyi said it was important to reduce poverty and ensure food sufficiency in the nation.

    Adesuyi who spoke in Abuja, said: “The agro-allied ventures are embraced by the middle and low class Nigerians, therefore we use this medium to solicit for the immediate release of money the for these categories of people who have taken cooperative system seriously as the only channel through which they could team up to create self-help for themselves.

    “Concerning our request for N50billion, it is for our farmers, artisans, marketers, traders, processors, industrialists, agro-allied commodities and service producers all across the nation. It is primarily for the cooperatives.”

    According to her, the union was certified by the Federal Ministry of Agriculture and Rural Development through the Federal Director of Cooperative and Farmers Organisation, Dr. Dickson Okolo in August, last year as well as the CBN in 2002.

    Adesuyi said the union had been under the cover of the Nigerian Agricultural Insurance Corporation (NDIC) since 2002 with partnership with the Nigeria Export Promotion Council (NEPC).

    She added that if the 15 million cooperative members from the six geo-political zones could access the facility, it would contribute positively to the nation’s food security programme and national development.

    Representative of First Bank Nigeria Plc (FBN), Mr. Osaze Owaifo said the bank is known for clear participation on retail business and grassroots lending especially  agriculture.

    He said the bank will give the group the needed requirements to access the loan at nine per cent interest rate.

    Owaifo expressed optimism that the gesture would contribute to better livelihood for the farmers.

    Kogi State Coordinator of the Union, Mr. Mohammed Dansulieman said members were already losing hope on the loan. He said it was important for the government to release the credit in order to sustain the trust of the farmers.

    Southeast representative of the union, Ms Ijioma Chikeze said the members should be registered by the government before they can access the credit.

    Chikeze who is also the Anambra State Coordinator emphasised need for awareness such that women and youths could benefit more from the facility.

    She expressed optimism that the larger per cent of the N50 billion would be accessed by women.

  • Economic slowdown: Dangote urges investors not to relent

    Economic slowdown: Dangote urges investors not to relent

    Dangote Group has urged investors to continue to invest in the economy as Nigeria still remains a fertile ground for growing businesses.

    The Manufacturers Association of Nigeria (MAN) recently said the devaluation of the naira and increase in the interest rate are all contributory factors to the increase in the cost of production.

    In a statement, the President, Dangote Group, Alhaji Aliko Dangote said Nigeria still remains a fertile ground for growing business, adding that it is not resting on its oars.

    He said investors should collaborate with government towards ensuring that the country, which is Africa’s biggest economy, remained robust.

    According to him, the company  is committed in its aggressive growth plan towards ensuring that Nigeria becomes net exporter of cement.

    The statement described Nigeria as a land of hope and opportunities and commended the Federal Government for encouraging private investment in the country through the recent listing of Nigeria top 100 companies.