Blog

NAN-HE-6
Inflation
By Chinyere Joel-Nwokeoma
Lagos, Nov. 23, 2016 (NAN) The retention of Monetary Policy Rate (MPR) at 14 per cent will increase inflation rate and the banking sector non-performing loans (NPLs) profile,’’ some financial experts said on Wednesday.

They told the News Agency of Nigeria (NAN) in Lagos that the retention of MPR was not in the best interest of the country, saying that it would escalate the inflation rate.

The experts spoke on the outcome of the Monetary Policy Committee (MPC) meeting   held on Nov. 21 and 22 in Abuja.  NAN reports that the MPC at the meeting retained the interest rate at 14 per cent and also retained the Cash Reserve Requirement (CRR) at 22.5 per cent.

NAN reports that the liquidity ratio was also retained at 30 per cent.

In his remarks, Dr Glenn Prince-Abbi, the Executive Consultant/Chief Executive Officer, Espera Global Corporation, said that the decision to retain all the key indicators was worrisome.

According to him, it will increase inflation rate and worsen the present economic recession.

Prince-Abbi said that reduction in the interest rate would improve the cost of doing business and boost companies profitability.

He said that the headline inflation which was already at a ceiling breaking of 18.33 per cent would remain or even worsen with the MPC decision.

“The action of the MPC to retain all the key indicators is worrisome.

“It does appear to me that the Central Bank of Nigeria (CBN) believes ever so strongly that no form of actions on adjusting monetary policy instruments is needed to work in synch with the ongoing fiscal policy propositions by the government,” he said.

Prince-Abbi wondered how the nation’s economy could get out of recession with high interest rate that determines the cost of money used in the production process.

“How can we depend strictly and solely on fiscal policies to make the necessary adjustments and keep sacrosanct and untouchable fundamental monetary instruments,” he queried.

According to him, the high interest rate regime which is retained has not allowed any form of reduction in the costs that producers are already contending with.

Prince-Abbi said that the monetary policy instruments alone could not engender or trigger economic growth, but could only contribute to stifling growth and worsening unemployment.

He said that high interest rate regimes, as part of the monetary policy engineering, were adopted by the national economies partly to check over-supply when such arises.

“This stringent policy of high interest rate tends to be a cautionary measure taken by the CBN without examining the easing a lower interest rate would tend to allow for producers and all the actors within real sector within the economy.”

Also, Dr Uche Uwaleke, the Head of Banking and Finance Department, Nasarawa State University, Keffi, told NAN that the ripple effect of the present MPC stance would compound the problem of NPLs.

Uwaleke said that banks NPLs would increase because high interest rates would make repayment of loans more difficult.

“The stock market, which is currently on a bearish trajectory on account of waning investor confidence, will be worst hit,” he said.

Uwaleke said that portfolio investors were bound to revise their portfolios in favour of the government securities.

He said that share prices would plunge further when investors dispose their shares to invest in government bonds and treasury bills whose yields were currently high due to high policy rate of the CBN.

Uwaleke said he wished that the MPR and reserve ratios were slightly reduced by the apex bank.

He said that the decision of MPC to retain MPR and reserve ratios at their present high levels might help to curtail the pressure in the forex market.

“It will slow down the pass on effect of high exchange rate on foods and other imported items.

“Unfortunately, this tight monetary policy stance jeopardises the country’s chance of exiting the present economic recession.

“It will be difficult to jump start growth in an economy where the average commercial banks’ lending rate is over 20 per cent with many businesses choking under high cost of doing business.

“The high MPR at 14 per cent implies high cost of borrowing, not only by individuals and firms, but also by the government that is depending on deficit financing to bridge infrastructural gap.

“So, domestic investments are bound to decline with adverse consequences for an economy that has officially recorded a contraction in GDP for three consecutive quarters this year,” Uwaleke said. (NAN)
JNC/GOK
Edited by Olagoke Olatoye

NAN-H-43
Rail
By Sumaila Ogbaje
Abuja, Nov. 23, 2016 (NAN) Mr Usman Abubakar, Chairman of Nigeria Railway Corporation (NRC), says the country’s railway system is back on track and now traverses about 3,000 kilometres across the country.

In an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja, Abubakar said the NRC was currently working at 90 per cent with regular movement in most stations.

He said that the Federal Government had resolved to continue to develop the rail system such that a journey from Abuja to Kaduna would take just one and a half hours.

Abubakar said that NRC had developed a 25-year-development programme, which had started with installation of the Kaduna-Abuja standard gauge.

He said that the corporation planned to extend the standard gauge to other parts of the country.

“ There are about 3,000 kilometres of rail line in Nigeria and I can tell you that it is working 90 per cent.

“In some stations you see trains every two weeks and in some one week and still moving and that is why I said that the Railway system is back on track.

“We will continue to work until we cover every state capital and the major commercial and business towns in the country.

“This is a 25-year-Development Programme and we are going to see that work starts from Lagos to Ibadan and possibly Kano-Kaduna, Calabar- Port Harcourt and others that are going to come up.

“This is a programme that will link North and South and coastal areas, so that Nigerians can have a comfortable ride, moving passengers and freight across the states of the federation.

“This is the beginning and it will continue until we achieve our objective.’’

On safety, the NRC chairman said that security and safety were the major advantage of the railway system, adding that the possibility of train accident was minimal or non-existence.

According to him, security is the major selling point of travelling by rail in this country because as we have highway robberies, those are basically non-existent on the railway.

He explained that the government had put adequate security measure in place to checkmate activities of vandals.

Abubakar said that so far, there had been minor cases of vandalism on the Abuja-Kaduna rail line. (NAN)
OYS/AOS/MO
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Edited by Bayo Sekoni/Morayo Omolade

NAN-DS-2
Cows
Maiduguri, Nov. 23, 2016(NAN) The Nigerian Army on Wednesday handed over 316 cows suspected to have been rustled by the Boko Haram terrorists to the Borno Government for upkeep.

Col. Mustapha Anka, the Deputy Director, Army Public Relations Department, handed over the cows to Alhaji Kakashehu Lawan, the Commissioner for Justice at a ceremony in Maiduguri.

Anka explained that the cows were arrested as part of investigation into alleged large scale rustling by the Boko Haram terrorists.

He said that the hand over followed a directive from the General Officer Commanding (GOC) 7 division of the Nigerian Army, Brig.-Gen. Victor Ezugwu.

He added that Ezugwu was concerned about the condition of the cows and asked that they should be handed over to government for proper upkeep.

He said “on behalf of the 7 division of the Nigerian Army, Maiduguri, I hereby hand over the cows to you for proper upkeep.

“The 316 cows were arrested in collaboration with some individuals in the society as part of an ongoing investigation into large scale rustling by suspected Boko Haram terrorists, ” Anka said.

He lamented that the army had challenges taking care of the cows, a development he said necessitated the need to hand the cows over to the state government for care.

“We observed that the cows were getting sick and dying due to lack of proper care, since the suspected rustlers have been taken to Abuja for investigation.

“It is based on this premise that the GOC directed that the cows be handed over to the state government for upkeep, pending the conclusion of the case.”

Receiving the cows, Lawan thanked the army for the gesture.

He said that the state government was already in possession of 150 cows, suspected to have been rustled by the terrorists.

He said “I think that today’s ceremony can be traced to a resolution of the State Security Council meeting last month which approved the taking over of 150 cows earlier arrested from suspected Boko Haram terrorists collaborators.

“The cows were kept by the 195 Battalion of the Nigerian Army before the council directed their handover to the state for proper care.”

He promised that the state government would take proper care of the cows, pending the completion of the case. (NAN)
ABI/DUA/HA
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Edited by Dada Ahmed/Hadiza Mohammed-Aliyu

Commission embarks on verification of projects in Lagos

NAN-HG-2

Verification

By Vivian Ihechu

Lagos, Nov. 23, 2016 (NAN) The Fiscal Responsibility Commission (FRC) has began the verification of some capital projects in selected health institutions in Lagos State to ascertain the level of work done.

Alhaji Moshood Tijani, Head, Monitoring and Evaluation, FRC, made this known to the News Agency of Nigeria (NAN) on Wednesday in Lagos.

Tijani explained that the exercise was part of its functions to ensure transparency and accountability in the management of government finances.

“The exercise started on Monday. The verification team included some members from various departments of the FRC and Mr Aminu Idris, who represented the Federal Ministry of Health.

“The hospitals verified were the National Orthopaedic Hospital (NOHI), Igbobi; Federal Medical Centre, Ebute-Meta, and the Lagos University Teaching Hospital, Idi-Araba,’’ he said.

According to Tijani, the exercise will also aim at collating challenges as identified by the institutions and making the necessary recommendations to the appropriate ministries and offices.

“The main function of FRC is to ensure the good management of national resources, such that in managing the resources that are accrued to the various government agencies, there is transparency and accountability.

“We are here to physically verify selected projects in 2014 and aspects of revenue remittance in these institutions.

“We are to assess the situation, look at where the projects are sited, level of work, challenges in execution, as well as proffer solutions and make recommendations to the Presidency, relevant ministries and National Assembly.

“This is in accordance with our vision to create an enduring framework for effective and transparent financial management in Nigeria.

“We want to ensure there is that value for money as appropriated by the government for execution of projects.

“We have a template that they should give us; a template on when the project started, how much have been given and what is or was required to complete the project,’’ he said.

At the NOHI, the projects inspected included the Administration Block, Accident and Emergency building, General Out-Patient building (GOPD) and the Theatre.

Commenting on the projects, Tijani said: “The Administration block is about the only project, out of the four that we came to inspect, that is completed and ready for use.

“The Admin building looks very fine outside but the finishing on the floor tiles is poor; the contractor did not do a good job, perhaps due to poor supervision.

“At the Theatre complex, from our inspection, it is about 90 per cent complete and the quality of job there is quite good; we are happy with that.

“It is the kind of project that will be of benefit to the generality of the people, who are unfortunate to have cause to make use of this hospital,’’ he said.

The team leader added that: “Work at the GOPD is more or else on hold; we are of the view that the management of the hospital should do everything possible to get the contractors back on site.

“We feel that particular attention should be paid to the theatre building, which is almost complete, because it is of more importance for public use than the Admin block.’’

At the FMC Ebute-Metta, some of the projects verified included the digital equipment in the CT Room of the radio diagnostic unit, SCD project laboratory, neonatal screening machine and oxygen plant.

Tijani also told the management of the institution that the exercise would synchronise the budget allocation and expenditure on projects within a time limit.

“We specifically mentioned projects within 2014, but while looking at that, there is no way we cannot go back because most of the projects started some years earlier.

“We want to test the efficiency of the allocation process for capital projects by budget office, and the utilisation of those allocated funds.

“This will be in terms of how well you execute these projects and how you are able to access those funds and the timing of completion,’’ he said.

Responding, Dr Olubukola Aseru, the Acting Medical Director, FMC Ebute-Meta, said: “We at FMC have been able to manage the resources within our limits.

“We do not have outstanding projects especially as our space does not allow for sprawling projects.

“However, we categorise our medical and diagnostic equipment, buy incrementally and replace when the need arises.

“We also try to increase the services that we provide, by having one or two more equipment, better than what we have had before.

“However, we need funds to develop our permanent site in Badagry.’’

Tijani commended the management of FMC Ebute-Meta for their ingenuity and prudence.

He also encouraged them to regularly make their returns to the TSA, as stiffer penalties were being worked out for defaulters.

At the LUTH, some of the projects inspected included the Biomedical Engineering building, Children Emergency Centre, Interns Accommodation, as well as equipment in some wards and the Assisted Fertility Centre.

The verification team expressed satisfaction at some of the projects that were near completion and tasked the hospital’s management to efficiently supervise other projects that were still ongoing.

Tijani said there was also need for better collaboration and communication among the various units and departments in the institution for improved healthcare delivery. (NAN)

VIV/MST/MST

Edited by Muhammad Suleiman Tola

NAN-HG-1

Awareness

By Talatu Maiwada

Abuja, Nov. 23, 2016 (NAN) Aids Health Care Foundation, an NGO, said on Wednesday it had concluded arrangement to embark on a three-day Awareness Campaign Tour/Silent Protest Against Sexual Violence beginning Nov. 25.

The event, which is expected to hold in the Federal Capital Territory (FCT), will end on Nov. 28.

A statement released by Ms Kemi Gbadamosi, Senior Manager, Public Relations and Communications, AHF, in Abuja on Wednesday, described the campaign, with the theme: `The Girls ACT’, as a strategy aimed at preventing new HIV infections among young women and girls.

“Statistics released by the UN reveal that nearly 300,000 new infections occur annually among young women and girls of 15 to 24 years of age in sub-Saharan Africa.

“Also 1 in 3 women and girls have suffered some form of sexual or gender-based violence,’’ she said.

According to the senior manager, the tour will target young women and girls with HIV and sexually transmitted infections.

She stated that the tour will offer services on personal hygiene, menstrual hygiene, psycho-social and medical test services.

“The idea behind the mobile caravan campaign is to take services to young women and girls, who are mostly out of school and those, who will not visit a health facility.

“Our goal is to reverse the trend of high new HIV infections among girls of 15 to 24 years of age by empowering them with information.

“Such information will enable them to make informed choices and decisions with respect to their health and overall well-being,’’ she said.

She explained that the Silent Protest will be a peaceful solidarity march against sexual violence aimed at raising awareness on Post Exposure Prophylaxis for victims of rape in order to reduce HIV infections.

Gbadamosi said that the silent protest would serve as a call for stiffer penalties for perpetrators of rape and for the full implementation of the Violence Against Persons Prohibition (VAPP) Act.

She added: “It is a symbolic show of solidarity for those, who have suffered sexual and gender-based violence as it has continued to thrive and put a lot of people at risk.

“Daily, we are inundated with reports of sexual assaults on both the young and old women.

“We, however, believe that putting the discourse on the front burner will empower victims and send a strong message to perpetrators.’’

She said the NGO would embark on the tour and silent protest in partnership with UNAIDS,  the National Agency for the Control of Aids (NACA), among other organisations. (NAN)

TIM/OSA/YEE

Edited by Shittu Obassa/Emmanuel Yashim

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NAN-H-42
Locomotive
By Sumaila Ogbaje
Abuja, Nov. 23, 2016 (NAN) Mr Fidet Okhiria, the Managing Director, Nigeria Railway Corporation (NRC), says the corporation will soon deploy a 150-kilometre-per hour locomotive on Abuja-Kaduna rail gauge to meet passengers’ demand.

Okhiria, who disclosed this to the News Agency of Nigeria (NAN) on Wednesday in Abuja, said engineers were currently in China for the final factory acceptance test.

He said once the design specification was confirmed by the engineers, the corporation would start making arrangements for its shipment and subsequent deployment.

According to him, the second locomotive for the rail line is also expected to be on track in the next two weeks since the engineers have also gotten the parts.

He added that “very soon, we will get the 150km per hour locomotive being shipped, engineers have just gone for the final factory acceptance test.

“We received information that it has been done and for the second locomotive that is coming in the next two weeks, we will put them on track.

“We are proactive, some of my engineers are already in China and they are going to come back with the pack for the second locomotive next week,’’ he stated.

The NRC boss said that railway stations were always far from the heart of the cities to allow people to move closer to the station in order to help create and expand the city.

He noted that the measure was to avoid demolishing people’s houses and paying compensation, adding that the out of town station encouraged development of towns and cities.

According to him, it is advisable to locate train stations away from city centres, saying the old Kaduna station that is now in the city was originally outside the city.

“However, within the next two years, the station you called out of town would be a major centre of activities.

“It is always like that because we don’t want to demolish houses because we cannot pay money for compensation.”

Okhiria said Nigerians had accepted the railway system, especially the Abuja-Kaduna line, adding that there had been continuous increase in passengers traffic on daily basis.

He assured that more locomotives and coaches would be deployed to the rail line in the coming year for passenger service, noting that NRC was developing the freight angle.

A passenger, Hajiya Halima Saidu, a business woman based in Kaduna, who spoke to NAN commended the corporation for effective service on the Abuja-Kaduna line.

Saidu, who said she was travelling on the train for the first time, described the train movement as smooth and fast.

She called on the Federal Government to develop more of the kind of Abuja-Kaduna rail line in every state for easy movement of people.

According to her, if more railways are provided, the pressure on the roads will reduce and the number of road accidents will also reduce.

Mr Innocent Ajiji, the Deputy President, Nigeria Union of Railway Workers, who also rode on the train, said it was smooth to ride on light rail unlike the narrow gauge train.

According to Ajiji, it is faster and it moves smoothly because it doesn’t make a lot of noise like the narrow gauge train.

“If Federal Government can change the system into standard gauge, I think we will have a better rail system,’’ he said. (NAN)
OYS/HA
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Edited by Hadiza Mohammed-Aliyu

Safe Driving: FRSC sensitise stakeholders in Bayelsa

NAN-H-37
Driving
By Christian Ogbonna
Yenagoa, Nov. 23, 2016 (NAN) The Federal Road Safety Corps (FRSC) in Bayelsa on Wednesday said it would continue to sensitise stakeholders on safe motoring to protect their vehicles from damage and unnecessary loss of lives.

In an interview with the News Agency of Nigeria (NAN) in Yenagoa, the State Sector Commander, Mr Wobin Gora, said that the ongoing sensitisation by the corps was aimed at reducing accidents on the highway.

Gora emphasised the need for motorists to comply with all highway traffic rules and regulations.

“Sensitisation has been on-going, we have organised series of town hall meetings with the stakeholders in some communities in Bayelsa.

“We have been going to motor parks, markets, Churches and Mosques to enlighten them.

“The corps has advised drivers to shun driving while under the influence of alcohol, making or answering calls while driving, over-loading, speeding and dangerous over-taking.

“We know that during the Yuletide some drivers want to make quick money, but you cannot make money when you begin to trade with your life.

“FRSC is also calling all commercial vehicle owners to install the speed limiting device; this device can go a long to ensure that you get to your destination safely.

“Install one speed limit device today and stay alive; the device is very important because it has the capacity to reduce fuel consumption when speed is reduced,” Wobin said. (NAN)

OOC/AOS/MST
Edited by Bayo Sekoni/Muhammad Suleiman Tola

NAN-AE-2
Feeds
Damaturu, Nov. 23, 2016 (NAN) The Yobe Livestock Pilot Development Programme said it had introduced new species of exotic grasses for cultivation to boost animal feeds in the state.

Dr Mustapha Gaidam, the Programme Manager, disclosed this in Damaturu in an interview with the News Agency of Nigeria (NAN) on Wednesday.

“We have introduced Nappier, Centrosema and Stylothensis grasses as well as Lablab and Mucuna beans.

“The Programme has established demonstration farms  to identify favourable areas for mass production of these grasses,” Gaidam said.

He said the grasses which were rich in nutrition but not common in the state, would be planted to improve animal feeds across the state.

“Livestock farmers will also be trained on cultivation of the grasses,” he said.

The manager expressed optimism that the cultivation of the grasses would check migration by livestock farmers in search of pastures.

“This will improve the production of rich and healthy beef and dairy in the state and boost economic prosperity,” he said.(NAN) 
MM/AMY/AMY

Edited by Abdullahi Yusuf

NAN-H-10
Union
By Adekunle Williams/Solomon Asowata
Lagos, Nov.23,2016 (NAN) The National Union of Air Transport Employees (NUATE) on Wednesday hailed the re-election of Nigerian-born Dr Benard Aliu as President of the Council, International Civil Aviation Organisation (ICAO).
The News Agency of Nigeria (NAN) reports that Aliu was re-elected by acclamation for a second three-year term at the council’s meeting in Montreal, Canada on Monday.
Mr Olayinka Abioye, General Secretary, NUATE, told NAN in Lagos that the unions in the aviation sector were proud to be part of Aliu’s success story.
Abioye said: “We also contributed in our own little way to talk to our friends all over the world that he is a man that can be trusted and should be given the opportunity to serve ICAO again.
“The first thing we will like him to do is that, he must remember where he comes from. He must come back home and help us reorganise the aviation industry.
“If he speaks, I think the Federal Government will listen to him that we cannot go about reorganising our industry the way we are doing it.”
He noted that undue political interference, especially, in the aviation agencies and inconsistent policies had prevented the sector from actualising its potential.
Abioye also said the unions would continue to oppose the concession of the Lagos, Abuja, Kano and Port Harcourt Airports by the Federal Government because of previous experiences.
“We welcome the concession of the airports under the Public Private Partnership (PPP) arrangement but we must learn from our past experiences.
“Today, there are 68 legal cases between the Federal Airports Authority of Nigeria (FAAN) and some other concessionaires in various courts in Nigeria.

“We are saying that no matter the name you call your plans to reposition the industry, you need to sit down and dialogue with the relevant stakeholders.”
He said that the unions had suggested to the government that it should start to experiment the concession with an airport for now.
“We have suggested that we don’t need to concession the four major airports at once, but we can start with one. Let us see how it goes and how it will affect the workers there,” he said. (NAN)
WAC/ASO/DUA
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Edited by Dada Ahmed, Peter Dada

NAN-S-1
Mba
By Victor Okoye
Abuja, Nov. 23, 2016 (NAN) World football governing body, FIFA, has retained Nigeria’s Linus Mba as its Technical Adviser in Africa for Refereeing.

The News Agency of Nigeria (NAN) reports that Mba is one of the finest ‘Gentlemen of the Whistle’ to have come out of Nigeria.

The former FIFA referee is also the NFF Consultant on Refereeing and one of only two Africans retained in that position.

The other is the former Tunisian FIFA referee, Neiji Jouini.

Both men have been involved in FIFA development activities for close to two decades now.

Mba had been a member of the CAF Referees Committee for 10 years and had continued to serve as Referee Instructor for FIFA and CAF.

He had trained referees in virtually all English –speaking National Associations on the African continent.

Mba also serves as Referee Assessor in top grade FIFA World Cup and Africa Cup of Nations qualifying matches and is involved in general referee instruction programmes for CAF.

Jouini has a long –term contract with the Qatar Football Association and works for CAF during a number of championships.

Both men are in the company of the likes of Pierluigi Collina (Italy), Barry Neale (England); Batta Marc (France), Vicar Donald (Scotland) and David Elleray (England) as FIFA Technical Advisers.

The world body works through three Referees Development Officers in Africa–Carlos Henriques (South Africa), El Shenawy (Egypt) and Megassa Sidi Bekaye (Mali). (NAN)
VO/AK/OJO
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(Edited by Akin Makanjuola/Mufutau Ojo)