The Pacesetter Frontier Magazine

Author: Editor

  • Sowero granted N20m bail

     

    A Chief Magistrate Court sitting in Abuja has granted bail to Sahara Reporters’ publisher, Omoyele Sowore in the sum of N20m.

    Four other activists, who were arrested with Sowore on New Year’s Eve in Abuja for holding a protest against bad governance, were also granted bail in the sum of N1m each.

     

    Sowore and Juwon Sanyaolu, Peter Williams, Emmanuel Bulus, and Damilare Adenola are standing trial for alleged unlawful assembly, criminal conspiracy, and inciting public disturbance.

     

    Chief Magistrate Mabel Segun-Bello while ruling on the bail application on Monday filed admitted Sowore to bail in the sum of N20million and two sureties in like sum.

     

    The court also ordered Sowore to remain in Abuja and must physically report to the court registrar every Monday and Friday pending the hearing and determination of the case against him.

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    The court further ordered that one of his sureties must be a civil servant not below grade level 12.

     

    Sowore, who was earlier declared a prisoner of conscience by Amnesty International in 2019, was detained for several months by the Buhari regime for allegedly calling for a revolution.

     

    He was denied bail several times and even re-arrested inside the Federal High Court. However, he was released after domestic and international pressures  in December 2019

     

    Source: www.punchng.com

  • Insecurity: CONES warns Buhari that refusal to tackle insecurity will cost Apc the 2023 elections

    Conference of Nigerian Elders (CONES) has warned that the insecurity situation in the country would cost President Muhammadu Buhari and the All Progressives Congress (APC) the 2023 elections.

     

    The group, in a statement, yesterday, by its representatives, Tunde Banjo,  Achike Nwachukwu and four others, said security of lives and property was deteriorating daily and expressed shock over Buhari’s refusal to relieve the service chiefs of their appointments and rejig the security apparatchik.

     

    The group said the security heads were not indispensable, regretting that their inability to contain insecurity since their appointments had portrayed the Federal Government in bad light.

     

    “We wish to say it is not normal for a whole country to be speaking with one voice that the service chiefs should not only be sacked, but also that the entire security architecture be rejigged, and Mr. President would remain adamant and less concerned.

     

    “Nigerians are tired of the alarming insecurity in the country and the seeming inaction of Mr. President in addressing the situation.

     

    “Those responsible for action or inaction which has heightened the insecurity must go and new and effective hands injected into the system.

     

    “CONES wishes to appeal to President Buhari to, to as a matter of urgency, sack the current service chiefs without further delay.

     

    “Our position is because we have seen that the president may lose the support of Nigerians over the embarrassing security situation we are facing if he doesn’t act fast enough. No part of Nigeria is safe today,” he said.

     

    While acknowledging that President Buhari gets daily briefings on the security situation in the country by the security heads, the elders claimed that “most of those reports are not true reflections of the situation on ground. Already, there is low morale in the military over the continued stay of the service chiefs whose tenures in their various offices have since lapsed.

     

    “Who knows if there are invisible hands out there in the service frustrating the fight against insurgency and insecurity in the country deliberately due to the continued stay of the service chiefs?

     

    “We appeal to the president to hearken to the call by majority of Nigerians as reflected in the country’s parliament recently that it is time for him to do the needful.

     

    “We are in a democracy where any decision of government or leaders is taken from the popular view. Majority of Nigerians have since spoken in this regard and as a democrat, our president should listen,” he said.

     

    However, the Defence headquarters (DHQ), yesterday, said the armed forces have checkmated Boko Haram and their operations in the North East.

     

    Despite claims that the insurgents have been decimated, some parts of the North East still come under attack.

     

    One of the most recent violent attacks by Boko Haram was at Zabarmari in Jere Local Government Area of Borno State where more than 40 farmers were killed.

     

    In an interview with newsmen, Coordinator of Defence Media Operations, John Enenche, said the Federal Government and the military since 2015 had checked the intensity of terrorist activities across the country, particularly in the North East.

     

    He said the initial delay in tackling the menace made it gain momentum — Boko Haram taking over territories and setting up administrative structures — before they were knocked off in 2016.

     

    Enenche said the open display of power and authority by Boko Haram no longer happens in the North East, and that no single district or community could be said to be under the control of the insurgents.

     

    “The issue of bombings that spread to other places like Abuja, Kano, Niger and Kogi states, including their slipper cells, no longer exist.

     

    “What about suicide bombing, which is one of the signs of terrorism? It was rife and even at our checkpoints, they come and detonate bombs as well as public gatherings; all these have been nipped properly.

     

    “If you put all these together, I can tell you terrorism has been checkmated. However, the signs are still there with isolated actions here and there; common with terrorism,” he said.

     

    Enenche said history has shown that terrorism “is a very resilient type of enemy activity,” adding that the type of terrorism in Nigeria is not “a smart one,” but rooted  in the state of mind of a group of people.

     

    Source: www.sunnewsonline.com

  • DSS warns about alleged Plot to incite religious violence across the nation

    The Department of State Services has warned about a plot by some elements working with external forces to incite religious violence across the country.

     

    It stated that the masterminds planned to foment religious crises in Lagos, Sokoto, Kano, Kaduna, Plateau, Rivers, Oyo, and in the South East.

     

    Part of the plans, according to a statement on Monday by the DSS spokesman, Dr Peter Afunanya, was to cause inter-religious conflicts as well as use their foot soldiers to attack some worship centres, religious leaders, personalities, key and vulnerable points.

     

    The statement was titled, ‘Plot to incite religious violence in Nigeria.’

     

    “Consequently, Nigerians are advised to be wary of these antics and shun all divisive tendencies aimed at inciting or setting them against one another,” it added.

     

    While pledging to collaborate with other security agencies to thwart the plot, the service warned the plotters to desist from their nefarious plan in the interest of peace, security and development of the country.

     

    The secret police admonished the citizens and residents to report any attempt to breach the peace around them to the nearest securi ty agencies.

     

    Source: www.punchng.com

  • Lagos shuts down Airport bridge at Toyota on Oshodi-Isolo expressway over a recent tanker explosion

     

    The Lagos State Government has shut down Airport Bridge at Toyota on the Oshodi-Isolo Expressway over a recent tanker fire that affected the bridge.

     

    The state Commissioner for Transportation, Dr Frederic Oladeinde, in a statement he personally signed on Sunday, said the closure of the bridge to vehicular movement was to enable the government to conduct structural engineering tests on the bridge.

     

    He noted that alternative routes had been created for motorists pending the outcome of the tests and the reopening of the bridge to traffic.

     

    According to Oladeinde, motorists from Mile 2 to Cele on Apapa-Oshodi Expressway will make use of Aiye and Osolo Way to Asa Afariogun through 7&8 to access International Airport Road.

     

    The commissioner explained that motorists from Toyota would use the service lanes by Armed Forces Resettlement Centre to BOC Gases on old NAFDAC Headquarters.

     

     

    “In the light of this development, the state traffic management officials shall be deployed to the aforementioned corridors to control and manage traffic flow along the axis during the course of the diversions.

     

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    “The Lagos State Government is assuring the motoring public that the Airport Bridge shall be opened for use as soon as the tests or requisite intervention makes it safe and secure to do  so,” he added.

     

    Source : www.punchng.com

  • 2023 Election : APC declares it’s readiness to win future elections, vows to take over Delta State in forth coming election

     

    All Progressives Congress (APC) in Delta has declared its readiness to win future elections in the state, beginning with the March 6  local government elections.

     

    The party said it was poised more than ever before to sack the Peoples Democratic Party (PDP) from Government House, Asaba in the 2023 general election.

     

    Chairman of the caretaker committee of the party, Jones Ode Erue, made the declaration while inaugurating the state Non-Working Committee, State Working Committee (SWC) and the 25 local government caretaker committees in Asaba.

     

    Erue said the APC in Delta State is now more united, adding that with the successful inauguration of the party organs, APC has reconciled all aggrieved members to work in one accord.

     

    He said there were no more factions or tendencies that hitherto pursued narrow and selfish interests in past, which had accounted for the party’s poor electoral fortunes.

     

    “We are all united now to take over the governance of Delta State from the PDP, led by Governor Ifeanyi Okowa,” he said.

     

    The chairman tasked the caretaker committees for the 25 local governments to take the message of total reconciliation to the grassroots to have a more harmonious and cohesive platform to defeat the PDP.

     

    He, however, admitted that reconciliation was not a tea party, and charged party faithful to reach compromises and be ready to shift ground in the interest of APC in Delta State.

     

    Erue urged the local government executives to go back to their various localities and inaugurate caretaker committees for the different wards.

     

    He tasked the grassroots leaders  to ensure the membership strength of the party is increased by over 100 percent in the forthcoming national revali dation exercise.

     

    Source:www.sunnewsonlin.com

  • Covid 19 : Pope Francis loses his personal doctor to covid 19

    Pope Francis’ personal doctor Fabrizio Soccorsi has died from COVID-19 related complications, the Vatican’s newspaper, L’Osservatore Romano, said at the weekend.

     

    Soccorsi was appointed in 2017. He was 78.

     

     

    The deceased was hospitalised in Rome on December 26 2020 for a previous oncological disease. It’s unclear when he was last in direct contact with Pope Francis.

     

    In an interview with Italy’s Canale 5 channel on Sunday, Pope Francis said the Vatican will begin COVID-19 vaccinations next week and he is in line  to take it

     

    Source : www.thenationonlineng.net

  • ASUU : Institutions are not ready for safe reopening

    Branches of the Academic Staff Union of Universities on Sunday assessed COVID-19 protocols in the universities and said the institutions were not ready for safe reopening.

    The chapters of the union, in separate interviews with The PUNCH, commented on the directive of the National Universities Commission that universities could resume on January 18, but must adhere to COVID-19 protocols in hostels and lecture halls.

     

    ASUU said although its members were ready to start work, government had not put measures in place for safe reopening of the schools.

    ASUU’s concern came amid coronavirus cases and deaths, which rose to 99,063 and 1,350 respectively on Saturday.

     

    The union Chairman at the Obafemi Awolowo University, Osun State, Dr Adeola Egbedokun, in an interview with one of our correspondents, said classroom and hostel situations in universities did not in any way conform with COVID-19 protocols.

    Egbedokun further said no preparations had been made so far for the safe re-opening of the universities and urged parents to insist on safety before re-opening.

    No preparation for COVID-19 protocols, insist on safe reopening, OAU ASUU tells parents

    He said, “COVID-19 is very real and this second wave is as real as described. We cannot afford to toy with our health and the health of our dear students in the name of resumption, which is politically motivated.

    “There are no preparations for safe re-opening of the universities and I think parents must insist on safe re-opening. The current classroom and hostel configurations in our universities do not in any way conform with the PTF (Presidential Task Force) on COVID-19 protocols. There is no way universities can achieve that. I have said this elsewhere, that rather than for government to have addressed the obvious deficits in the public universities during the lockdown and strike, they were playing to the gallery.”

    But the OAU spokesperson, Abiodun Olanrewaju, said the university management was ready for resumption and had put in place “a lot in relation to the COVID-19 protocols” in a bid to ensure safety.

    Holding physical lectures now will be disastrous, says FUNAAB ASUU

    ASUU at the Federal University of Agriculture, Abeokuta said the university was not ready to cope with COVID-19 challenges.

    The Chairman of ASUU-FUNAAB, Dr Adebayo Oni, in an interview with one of our correspondents on Sunday, stated, “The lectures halls are overcrowded. As of today, in my own campus, I have not seen any facility for hand washing Who is to provide sanitisers? Do you expect lecturers to provide sanitisers for themselves?

    “Fumigation of the environment from time to time should be done, How do you cope with students surge and the challenge of power supply ?”

    Oni said the union had observed that conducting physical lectures with students would be more disastrous.

    He described as alarming, figure of COVID-19. He said, “It is definitely a threat to the resumption of academic activities .

    “The fact is that under this circumstance and looking at the threat of the figure, going physical with students would be more disastrous. Conducting physical session, physical lectures with students would be more disastrous.

    “The truth of the matter is that we now propose a mixed model of online teaching and probably some level of physical teachings.

    “Even the online teaching also comes with its own facilities which are not readily available.

    “We don’t want to be pessimistic to say that it is not going to be workable. However , it is going to be at the risk of our lives and the lives of our students if the required facilities are not provided by the government.

     

    “The truth is that the facilities to cope with the pandemic are not available in our institutions. It appears the government is not ready and our institutions are not helpful.”

     

    COVID-19: Nothing on ground to show ATBU ready for resumption, say lecturers

    Also, the Chairman of the Abubakar Tafawa Balewa University branch of ASUU, Dr Musa Babayo, in a text message sent to our one of our correspondents, said that the government and institutions did not show any sign of seriousness in handling COVID-19 issues when the union was on strike.

    He said that ASUU in the ATBU had yet to see any tangible improvement in students’ hostel accommodation, classrooms and other things needed for COVID-19 protocols.

    Babayo who said that if the Federal Government had released funds to universities, proper arrangements for the protocols would have been made by the institutions.

    He said, “The coast is now very clear since has ASUU suspended its strike and it has gone further to show how government and institutions are not serious in the handling universities, particularly the issues of COVID-19.

    “When you talk about ATBU and resumption whether ASUU is satisfied, I can tell you that we have yet to see any tangible improvement, whether in hostel accommodation, classrooms and other things needed for COVID-19 protocols.”

    But the Public Relations Officer of the university, Bauchi, Abdulkadir Shehu, told one of our correspondents that the resumption of students of the institution had yet to be announced.

     

    He said, “Yesterday (Saturday) fumigation of the school at both the Yelwa and Gubu campuses commenced and it will soon be concluded.”

     

    We are concern about second surge – UNIJOS ASUU

    The Chairman of ASUU at the University of Jos, Dr Lazarus Maigoro, said the association was concerned about the second wave of COVID-19.

    He, therefore, urged the management of the university to ensure compliance with COVID-19 protocols on resumption.

    Maigoro who expressed concern over the second wave of COVID-19 said his members expected the university authority to comply with the COVID-19 protocols to contain the spread of the disease in the institution

    The Senate of UNIJOS will on Monday (today) hold a meeting to decide whether the institution will reopen for academic activities on January 18, 2021.

    The institution’s Deputy Registrar, Information and Publications, Abdullahi Abdullahi, disclosed this to one of our correspondents in Jos on Sunday.

    Abdullahi said, “We don’t know yet when UNIJOS will resume. The Senate will be meeting tomorrow (Monday) and that is where they will decide when the institution will reopen.”

     

    ‌Second wave more ferocious, we won’t expose our members to health hazards – UNICAL ASUU chair

    At the University of Calabar, the union Chairman, Dr John Edor, told The PUNCH that the association would not allow its members to be exposed to health hazards.

    Edor stated, “As a union, we are not too quick to talk. We are not too fast to become meddlesome. They have said schools are permitted to resume on the 18th of January, 2021. If by then we see that the necessary things are not put in place for the resumption, the union will come up with a position because we are not ready to expose our members to health hazards.

    “That was why we went on strike, asking for revitalisation of public universities. Revitalisation simply means conducive theatres, conducive hostels, offices, laboratories and libraries.

    “That is why we are saying let us wait till 18th of January and see how prepared Nigerian public universities are in the face of the second wave of COVID-19 which has come up with a more ferocious variant.”

    At the University of Port Harcourt, ASUU Chairman, Dr Austen Sado, said there would be a spike in coronavirus cases.

    He stated, “We have not been invited to inspect any facility in order to determine its suitability. So, we will wait until we get clarification on the resumption, then we will know whether there are things to contend with.”

    Asked if he feared a spike ahead of the school resumption, he said he had seen some measures put in place by the university, but that the possibility of an increase in cases existed.

     

    UNIPORT purchases 400 thermometers

    The university had directed students to resume on January 27, saying appropriate measures had been put in place to check the spread of COVID-19 in the classrooms and hostels.

    The Public Relations Officer of the university, Sammy Kpenu who disclosed this to one of our correspondents on Sunday afternoon, said one of such measures was the purchase of 400 thermometers to check temperatures.

     

    UNILAG Senate decides resumption date Wednesday

    But Registrar of University of Lagos, Mr Oladejo Azeez, said the decision on resumption of academic activities would be taken by the school’s Senate on Wednesday.

    Azeez in an interview with The PUNCH, said the Senate would meet virtually on Wednesday to discuss and decide on the modalities of students’ resumption and academic activities.

    He said, “Irrespective of what the Federal Government has said, the resumption of students or of academic activities is the prerogative of Senate. Senate of the university will decide and the meeting of the Senate is coming up on Wednesday; a virtual meeting. The law places this in the hands of the Senate and until Senate meets, there is no way anybody can say anything on resumption.”

    The management of the University of Ibadan said everything would be done to ensure that there was not spike in cases of COVID-19 among students and staff.

    The Director of Public Communication of the university, Mr Olatunji Oladejo, said this in an interview with one of our correspondents in Ibadan on Sunday.

    But ASUU Chairman at the Usmanu Danfodiyo University, Sokoto, Dr Abubakar Sabo, said he doubted if universities in Nigeria could meet the guidelines for preventing COVID-19.

    Abubakar, who spoke to one of our correspondents in Sokoto, stated that he was not aware of measures being put in place by the management of the UDUD towards the resumption date.

    “The Federal Government and university authorities must ensure that, there is no spike on our campuses. I have doubt, if our universities can meet up with the standard and best practices to check the pandemic.”

     

    Crowded classrooms: Our struggle for expanded infrastructure justified, says UNILAG ASUU

    While reacting to this issue of social distancing on campus, chairman,, UNILAG branch, Dr Dele Ashiru, explained that the union had been justified over their agitations for expansion of infrastructure in Universities across the country.

    He said, “ASUU has been clamouring for the expansion of infrastructure in the universities. This is a testimony to the justification of our struggles over the years because the situation as it is now leaves more to be desired.”

    We haven’t seen any measure in ABU – Lecturers

    The Ahmadu Bello University branch of ASUU said although its members were ready to work, it had not seen any measure put in place by the university.

    ABU’s ASUU Chairman, Prof. Rabiu Nasiru, told one of our correspondents in Kaduna on Sunday that the lecturers were prepare to go back to work.

    He, however, expressed concern that no adequate measures had so far been taken by the ABU management against the spread of the virus in the institution.

    He said, “I haven’t seen any measure taken so far by the management of ABU, but since the senate of the university is meeting on Tuesday, once Senate meets, I know those issues will be rais ed and it will be discussed. But for now, I have not seen any measure taken.”

     

    Source : www.punchng.com

  • Crude Oil : Price of Oil hits $56

     

    The sustained increase in global crude oil prices has pushed up the landing cost of imported petrol closer to the current pump prices of the product in Nigeria, and appears to have triggered a return to petrol subsidy era, ’FEMI ASU reports

    Since November 13, 2020 when the pump prices of Premium Motor Spirit (petrol) were last increased in the country, the price of the international oil benchmark, Brent crude, has been on an upward trajectory, rising from $41.51 per barrel to close at $51.22 per barrel on December 31.

    Fuel marketers had in December expected another upward adjustment of PMS prices to reflect the further rise in crude oil prices.

    However, a N5 reduction in petrol price, effective December 14, was announced by the Federal Government – a development that left them reeling in shock and questioning the deregulation of petrol price.

    Crude oil price accounts for a large chunk of the final cost of petrol, and the country has continued to spend so much on petrol imports for many years amid low domestic refining capacity.

    The Minister of State for Petroleum Resources, Timipre Sylva, had said in September last year that the Federal Government had stepped back in fixing the price of petrol, adding that market forces and crude oil price would determine the cost of the product.

    The Federal Government removed petrol subsidy in March 2020 after reducing the pump price of the product to N125 per litre from N145 on the back of the sharp drop in crude oil prices. The price reduction lasted till June.

    Nigerians saw increases in the pump prices of petrol in four months, rising from N121.50–N123.50 per litre in June to N140.80-N143.80 in July, N148-N150 in August, N158-N162 in September and N163-N170 in November.

    Brent, the international oil benchmark, has risen by about 35 per cent since November 13 when the pump price of petrol was last increased. It closed at $55.99 per barrel on Friday, its highest level in 11 months.

    Going by the petrol pricing template of the Petroleum Products Pricing Regulatory Agency, the landing cost of petrol rose from an average of N143.60 in December to N158.53 per litre on January 7, with the expected open market price (retail price) being N181.53 per litre.

    The product is currently being sold at between N160 and N165 per litre at many filling stations in Lagos.

    The cost of petrol quoted on Platts rose to $480.25 per metric tonne (N139.67 per litre, using N390/$1) last Thursday from an average of $430.107 per MT (N125.09 per litre) in December. The cost of petrol averaged $391.75 per MT (N113.24 per litre) in July, according to PPPRA’s template.

    Apart from the increase in global crude oil prices, the devaluation of the naira last year also led to a significant rise in the cost of imported petrol.

    The PPPRA used an exchange rate of N306.90/$1 on January 14, 2020 to calculate the cost of petrol, while N387.63/$1 was used on July 31.

    The naira closed at 393.50 against the dollar on Friday at the Investors’ and Exporters’ Foreign Exchange Window, and 472/$1 at the parallel market.

    As of January 7, the cost of petrol plus freight stood at $500.72 per MT, translating to N145.62 per litre.

    Other cost elements that make up the landing cost include lightering expenses (N4.57), insurance cost (N0.21), Nigerian Ports Authority charge (N2.38), Nigerian Maritime Administration and Safety Agency charge (N0.23), jetty throughput charge (N1.61), storage charge (N2.58), and financing (N1.33).

    The pump price is the sum of the landing cost, wholesale margin and the distribution margins. The wholesale margin is N4.03 while the distribution margins comprise transporters allowance (N3.89), retailer (N6.19), bridging fund (N7.51), marine transport average (N0.15), and admin charge (N1.23).

    The NNPC, which has been the sole importer of petrol into the country in recent years, is still being relied upon by marketers for the supply of the product despite the deregulation of the downstream petroleum sector.

    Private oil marketing companies have continued to lament that their inability to access foreign exchange at the official rates has hampered efforts to resume petrol importation.

    If the pump price of petrol is left unchanged amid the rise in oil prices, it means the NNPC would again bear the latest subsidy cost on behalf of the government as it did for several years before its removal last year.

    There is currently subsidy, but it is being absorbed by the government through the NNPC,” the National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, told our correspondent.

     

    He recalled that he said in December that petrol pump price was moving closer to N180 per litre, adding that with the current price of crude oil, petrol subsidy would gulp about N800m daily with an average consumption level of 40 million litres.

    He said, “Because of the volatility of petrol in the Nigerian political landscape, government does not have the boldness to allow full deregulation of petrol because of the spiral effects on Nigerians, and bearing in mind that Nigerians are in very hard times.”

    Osatuyi said, “But the government is supposed to come out and present the subsidy to the National Assembly. They should tell Nigerians that we are going back to subsidy. But because of the loans from the IMF and World Bank that they got with the condition that petrol should be deregulated, I believe the government is trying to manage the problem.

    “If we are going to do genuine deregulation, there must be a level playing field for the players. We are not where we are supposed to be; there is still some dark, hidden elements in our ‘deregulation’.

    “We are practising monopolistic deregulation – where one player is on the field and it is the goalkeeper, the defender and the referee.”

    The President, Petroleum Products Retail Outlets Owners Association of Nigeria, Dr Billy Gillis-Harry, stressed the need for deregulation to be properly done.

    He said, “The concern I have is that we are not getting it right. We must think inwards and grow our local production capacity. I don’t know why our refineries should not work.

    “Deregulation is the way to go; we want the sector to be deregulated. But we need to do it rightly. There should be a level playing field for all operators; everybody should be able to access forex at the same rate.”

    While opposing the return to subsidy, he said, “We call on the government to fast-track the regulatory process to ensure that deregulation is in place.”

     

    The Source had reported on September 8, 2020 that the Federal Government’s removal of petrol subsidy and the increase in electricity tariff were in line with reforms being sought by the International Monetary Fund and the World Bank.

    “The recent introduction and implementation of an automatic fuel price formula will ensure fuel subsidies, which we have eliminated, do not reemerge,” the Federal Government told the IMF in the letter of intent dated April 21, 2020 with respect to its request for emergency financial assistance of $3.4bn.

    In July, Sylva said in a statement that the Federal Government had reached  a conclusion that it could no longer bear the burden of petrol subsidy.

     

    Source : www.punchng.com

  • Insecurity : “The Nigerian government has failed on security” – Falana

    Lagos lawyer Femi Falana’s wife, Mrs Funmi Falana, on Sunday said the president, Major General Muhammadu Buhari (retd.), and the 36 state governors should resign from office if they were helpless on the insecurity in the country.

    Falana, who is also a human rights activists, said governments had failed on security and something needed to be done, lamenting that “Nigerians are afraid to go out, Nigerians fear for their lives, they are afraid for their security. It is very sad. Nobody ever envisaged that Nigeria will get to a situation like this.”

    The human rights lawyer, who spoke in Iyin Ekiti, Ekiti State, during her yearly New Year celebration with motherless children, called on states yet to domesticate the Child’s Right Law to do so.

    She said, “There is the need to do something about the security of the citizens. A government that is unable to guarantee the security of the citizens is a failed government, so if they cannot protect the Nigerian people, the governments have failed.

    “We are using this opportunity to remind them that it is the constitutional responsibility of the government under Chapter Two of the constitution to provide security for the people. It is as if they are helpless, if they are helpless, let them resign and let us know that we don’t have government,” Falana said.

    Falana said that her yearly celebration with the children “is our way of giving back to the needy in the society because these people really need the expression of our love and also to let them know that they are important in t he society.”

    The matron of the children’s home, Mrs Olayinka Ajayi, said Falana’s contributions in the last few years had made significant impact in the lives of the children.

     

    Source : www.punchng.com

  • Forbes : Dangote’s networth drops by $900m within 24 hours

     

    The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, saw his total net worth drop by $900m on Friday as his flagship company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange.

    Bloomberg Billionaires Index, which is a ranking of the world’s 500 richest people, showed that his wealth fell from $18.4bn on Thursday to $17.5bn on Friday, making him the 114th wealthiest man in the world, down from 106th the previous day.

    Dangote’s net worth had risen from $15.5bn on December 13 to close the year 2020 at $17.8bn. It further gained $600m in the first seven days of 2021, but lost all of it and more last Friday.

    The share price of Dangote Cement Plc, the country’s biggest listed company and Africa’s largest cement producer, tumbled by 8.13 per cent to close at N225 on Friday from N244.90 on Thursday.

    Dangote was the only Nigerian on the list of 500 billionaires and retained his position as Africa’s richest person as of Friday.

    “The majority of Dangote’s fortune is derived from his 86 per cent stake in publicly traded Dangote Cement. He holds the shares in the company directly and through his conglomerate, Dangote Industries,” Bloomberg said.

    His most valuable closely held asset is a fertiliser plant with capacity to produce up to 2.8 million tonnes of urea annually, according to the international news agency.

    “A $12bn oil refinery that is currently being developed in Nigeria isn’t included in the valuation because it’s not yet operational and construction costs are calculated to outweigh its current value,” it said.

     

     

    Source : www.punchng.com

  • Crude Oil : Nigeria’s oil export revenue increases as the price of a barrel rises above $55

     

    The international oil benchmark, Brent crude, extended its gains on Friday, rising above $55 per barrel, in what is a potential boost to Nigeria’s crude oil export revenue.

     

    Brent crude, against which Nigeria’s oil is priced, hit an 11-month high of $55.41 per barrel as of 2:50pm Nigerian time on Friday, trading more than $15 higher than the Federal Government’s benchmark for the 2021 budget.

     

    The 2021 budget, which was signed by the President, Major General Muhammadu Buhari (retd.), on December 31, was based on an oil price benchmark of $40 per barrel and a production level of 1.86 million barrels per day.

     

    The upturn in oil prices was supported by Saudi Arabia’s pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases, according to Reuters.

     

    “The surprise Saudi cut is keeping bulls at the helm. It will take a brave man to bet against the current bullish run of play,” said Stephen Brennock of oil broker PVM.

     

    Saudi Arabia this week pledged extra, voluntary oil output cuts of one million barrels per day in February and March as part of a deal under which most OPEC+ producers will hold production steady in the face of new coronavirus lockdowns.

     

    However, analysts said oil prices could see a correction in coming months, if their rallies were not backed by stronger fuel demand.

     

    Severe mobility restrictions around the world to contain a surge in COVID-19 cases still weighed on fuel sales, weakening the prospect of energy demand recovery in the first half of 2021.

     

    “Oil markets are expected to stay in a bullish tone towards February,” said Kazuhiko Saito, chief analyst at commodities broker Fujitomi Co.

     

    “But concerns over slower demand in gasoline and other fuels in the United States and other parts of the world due to wider restrictions to contain the spreading COVID-19 pandemic may limit gains.”

     

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    The pandemic claimed its highest US death toll yet, killing more than 4,000 people in a single day, while China reported the biggest rise in daily cases in more than five months and Japan may extend a state of emergency beyond the greater Tokyo region.

     

    A rally in global shares also lent some support to oil prices, with Japan’s Nikkei hitting a three-decade peak, as investors looked beyond rising coronavirus cases and focused on hopes for an economic recovery later in the year.

     

    As a sign of tighter supply following Saudi Arabia’s cut, seven North Sea crude cargoes were bought and sold in the trading window operated by Platts on Thursday. Normally, just one or two cargoes change hands each day.

     

    Source : www.punchng.com

  • Paternity Scandal : “What you don’t know about my troubled marriage” – Moyo Thomas

     

     

    The lady at the centre of the trending story involving the Managing Director of First City Monument Bank, FCMB, Mr. Adam Nuru over the paternity of her two children, Mrs Moyo Thomas has finally come out of her shell to reveal the circumstances that led to her separation from her late husband, Mr. Tunde Thomas.

     

    For over a week, social media have been awash with allegations of infidelity against Moyo leading to doubts about the paternity of her two young kids. She was accused of having an affair with Adam while she was still living with Thomas and that her kids are products of the illicit affair while she worked with Adam in FCMB before her relocation to the United States in 2017. Thomas was said to have died as a result of the trauma suffered from the scandal while Adam during the week stepped down from his seat as the bank MD to go on vacation to allow for a proper investigation of the swirling allegations. Though Moyo’s friends and family members had spoken in her defence, but in a statement personally signed by her and made available to Saturday Sun yesterday, Moyo told her story herself.

     

     

     

    “I write in reference to all the allegations and accusations that have recently been making the rounds on the internet and various social media platforms. I have refrained from responding to this matter for various reasons, one of which is to preserve the memories of Tunde who departed to be with his maker on December 16, 2020. Memories, not only to me, but to his children, who are still young, and to everybody who had a relationship with him.

     

    “Just like any marriage, Tunde and I had a lot of differences in our marriage, some of which even led to police intervention . But I remain committed to keeping only positive memories of him. No one can ever understand what transpired between us or what each of us experienced in the marriage; like they say, it is he who wears the shoes that knows where it pinches. In all of it, I never for once wished him bad. His untimely and sudden death is still a shock to me as it is to many others.

     

    “On no occasion did I ever tell him he was not the father of our two children. It is therefore deliberate falsehood and certainly malicious to allege and insinuate that I informed him that the children are not his. The children still bear his name. Only God knows why he died in an untimely period. It is not in my place, or anyone’s place to play God and talk with certainty as to the cause of his death, without proven medical facts.

     

     

     

    “Despite our separation, we never allowed our differences affect the relationships we respectively have with the children. He still had conversations with the children like any father will, up until his sudden and unfortunate death. It is quite sad and disheartening to see the pictures of these innocent children splashed all over the internet with very disparaging and weird comments.

     

    “I do wish his family and friends the fortitude to bear the unfortunate loss and I ask that we all be allowed to grieve his loss in peace. He has now been laid to rest and we implore all and sundry to please respect our privacy and allow those grieving his loss, including the children and I, to do  so in peace.”

     

    Source : www.sunnewsonline.com