Blog

NAN-HE-17

Shares

By Chinyere Joel-Nwokeoma

Lagos, Nov. 2, 2016 (NAN) Activities on the Nigerian Stock Exchange (NSE) remained on a negative trend on Wednesday with the All-Share Index dropping 0.11 per cent on a weak third quarter earnings season.

The News Agency of Nigeria (NAN) reports that the index lost 29.40 points or 0.11 per cent to close at 27,223.08 in contrast with the 27,252.48 achieved on Tuesday.

Similarly, the market capitalisation which opened at N9.360 trillion lost N10 billion or 0.11 per cent to close at N9.350 trillion.

NAN reports that Total recorded the highest price loss, dropping by N12.50 to close at N332.50 per share.

Nigerian Breweries trailed with a loss of N1.01 to close at N145 and UACN depreciated by 60k to close at N18.60 per share.

Ecobank Transnational lost 53k to close at N10.18, while Oando dipped by 23k to close at N4.47 per share.

Market analysts attributed the bearish trend to weak third quarter earnings season and negative investors’ sentiments.

NAN also reports that Lafarge Africa topped the gainers’, improving by N2.30 to close at N49.80 per share.

MRS followed with a gain of N2.16 to close at N45.51 and Guinness appreciated by N1.91 to close at N84 per share.

United Bank for Africa gained 20k to close at N4.51, while Champion Breweries added 18k to close at N2.64 per share.

NAN reports that in spite of the drop posted by market indices, the volume of shares traded closed higher with 202.71 million shares valued at N1.26 billion exchanged in 3,337 deals.

This was against the 187.60 million shares worth N1.31 billion transacted in 3,065 deals on Tuesday.

FCMB Group drove the turnover, trading 47.17 million shares worth N51.44 million.

Transcorp traded 22.29 million shares valued at N20.87 million, while Guaranty Trust Bank traded 19.96 million shares worth N471.68 million.

FBN Holdings sold 14.87 million shares valued at N45.12 million, while Sterling Bank exchanged 14.40 million shares worth N12.09 million. (NAN)
JNC/YAZ

NAN-HE-3
Power
By Raji Rasak
Lagos, Nov.2, 2016 (NAN) European Union (EU) will spend 150 million Euros (N50 billion) on the development of power sector in Nigeria, Mr Michel Arrion, the Ambassador and Head of EU Delegation to Nigeria, said on Wednesday.

Arrion made this known at the 5th Edition of EU-Nigeria Business Forum (EUNIBF) pre-event news conference in Lagos.

He said that the grant would be used mainly for the training of young engineers and funding of some technical aspects of the sector.

According to him, EU is collaborating with National Power Training Institute of Nigeria (NAPTIN) to inject young engineers into the sector.

Arrion described energy sector as an important aspect of the Nigerian economy, saying that nothing would work well if the sector was not adequately funded.

“The EU is already financing a transmission project in Kastina State and we have spent over five million Euro, about N1.6 billion, on it,’’ he said.

Arrion said that the forthcoming business forum would focus on creating opportunities for EU and Nigerian Small and Medium Enterprises (SMEs) to create their businesses through the Enterprise Europe Network (EEN).

“We want to identify opportunities in the textile value chain and proffer options for accessing long term finance for the critical power sector in Nigeria.

“The 5^th EUNIBF has been designed to discuss business opportunities and address bottlenecks to investments, particularly in the power sector.

“We will focus on diversification of the economy through SMEs,” he said.

Also, Mr Filippo Amato, the Counsellor, Head of Trade and Economics Section of EU, said that EU has granted over 750 million Euros to Nigeria between 2008 and 2013.

Amato said that 512 million Euros had been spent from 2015 to date.

He said that 2016 business forum would take place in Lagos from Nov.10 to 11 with the theme: “Harnessing Nigeria’s Potential for Economic Growth’’.

Amato said that key speakers lined up for the event include Gov. Akinwumi Ambode of Lagos State and Gov. Nasir El-Rufai of Kaduna State.

Others are President of the African Development Bank (AFDB), Mr Akinwumi Adesina, Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, and Minister of Works, Housing and Land, Mr Babatunde Fashola.

He said that the Minister of Budget and National Planning, Sen. Udoma Udo Udoma and the State Secretary, Ministry of Foreign and European Affairs, Slovak Republic, Lukas Parizek, would attend the forum. (NAN)
ROR/ENN/GOK
Edited by Edwin Nwachukwu/Olagoke Olatoye
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Businessman docked over alleged breach of trust

NAN-H-88

Breach

Makurdi, Nov. 2, 2016 (NAN) A 39-year-old businessman, Aloy Okpale, was on Wednesday arraigned in a Makurdi  Magistrates’ Court on charges bordering on breach of trust and  misappropriation.

The prosecutor, Cpl. Owochio Adama told the court that the case was reported by one Kelvin Idikwu at ‘B’ Division Police Station, Makurdi on Oct. 16, 2016.

The complainant reported that early 2015, he entrusted N148, 000 to the accused person to supply him building materials.

He said that the accused did not supply the materials, but converted the money to his personal use.

The accused person pleaded not guilty to the offences levelled against him.

The Magistrate, Mrs Franca Yuwa, granted the accused person bail in the sum of N100,000 with a surety in like sum and adjourned the case till Dec. 1, 2016 for further mention. (NAN)

DAJ/OU/OU

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Edited by Obike Ukoh

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NAN-H-61
Chandlers
By Uche Eletuo
Lagos, Nov. 2, 2016 (NAN) Some ship chandlers on Wednesday said they were being confronted with low business, loss of jobs and sought Federal Government’s intervention to remedy the situation.

The chandeliers, who decry the impact of the economic recession, stated this in separate interviews with the News Agency of Nigeria (NAN) in Lagos.

NAN reports that a ship chandler is a retail dealer who specialises in supplies or equipment for ships

They said that their challenges ranged from economic recession, import prohibition, which forced some shippers to route their cargoes to ports in neighbouring countries.

A Client Officer with Allison Shipping Ltd, Mr Bernard Kalu, said that the diversion of ships from Nigerian ports to Lome and Cotonou ports was depriving them of jobs.

“Since the inception of the import ban and the unending economic recession, the whole thing has been inactive.

“Many of us are closing shops and a lot of us thrown into the labour market without prior preparations,’’ Kalu said.

According to him, our members scrabble for the little available jobs at paltry sum without recourse to the cost of executing them.

He said that with Federal Government’s intervention in the area of trade facilitation and by dismantling all official bottlenecks, shippers would come back to Nigerian ports.

A Manager with Red Line Logistics, Mrs Roda Briggs, said, “If the Federal Government wants to create jobs, chandling is a veritable avenue’’.

“The number of people earning their living in the sector before now are many.

“With the recession and its economic downturn, many have lost jobs that are hard to come by,’’ Briggs said.

She urged the regulators to create a robust business environment that would attract the shippers back to the ports. (NAN)

EUC/AJA
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(Edited by Adeleye Ajayi)

Foundation advocates psychological intervention in the management of HIV/AIDS

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HIV/AIDs

By Talatu  Maiwada

Abuja, Nov. 2, 2016(NAN) Aids HealthCare Foundation (AHF), an NGO, has advocated the inclusion of psychologists and psychiatrists in the management of HIV to improve the mental health of patients.

Dr Kema Onu, Site Coordinator of the foundation, made this call in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

According to him, the scourge was becoming more of a mental health challenge in our communities than an infectious disease especially among young girls.

“We need specialists like psychologists and psychiatrists in our HIV and AIDs facilities across the country to counsel persons who are living with the virus especially the young girls.

“We have realised that it is now more of a mental health issue than an infectious disease, and if they get it right psychologically they will live longer.

“Arresting depression and risk of suicide is crucial to achieving mental stability than just giving out drugs especially to young girls who are not married and are advancing in age,’’ he said.

Onu said lots of people living with the virus have lived happy and productive lives hence the need for support groups where such experiences could be shared among newly infected persons.

He said that most young girls tend to travel outside their environment and change their contacts due to stigmatisation and discrimination.

He added that such mental instability could affect their social life, lead to self-withdrawal, hostility and the condition reshapes the way they see life, talk and accept men.

According to Onu, one of the benefits of anti-retroviral drug was that it suppresses the viral load of a positive person to an undetectable level.

“When an individual has an undetectable viral load between three to six months there is 96 to 97 per cent chance reduction in infecting the next person, even without the use of condom.

“Every young girl should know that if a man does not love them because they are HIV positive, then such men do not deserve them,’’ he added.

Onu said that most couples and partners could live healthy in a sero-discondant relationship whereby one partner is positive and the other is negative as well as the availability of fertility options.

He added that when the positive partner was consistent in their intake of anti-retroviral drugs and the use of condom then the risk of transmission becomes significantly reduced. (NAN)

TIM/MST/MST

Edited by Muhammad Suleiman Tola

Osun Assembly summons 2 steel companies over poisonous emissions
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Assembly
By Victor Adeoti
Osogbo, Nov. 2, 2016 (NAN) The Osun House of Assembly on Wednesday summoned the managements of two steel companies over poisonous emissions constituting health hazards to people in their host communities.
The Speaker, Mr Najeem Salaam, summoned the steel firms at the plenary following a matter of urgent public importance brought by a member representing Ife North constituency, Mr Babatunde Olatunji.
The speaker identified the companies as Ife Iron and Steel Company, Ile-Ife and Fonis Steel Company, Ikirun.
Summoning the companies, the Speaker said that the impact of emission been generated by the steel companies was causing health problems for residents of their areas of operation.
Olatunji said that although the companies brought some economic benefits to their host communities, it should not be to the detriment of the people’s health.
Another member, Mr Folorunso Bamisayemi, recalled that he had raised the matter in 2013 but the affected companies failed to take appropriate steps to prevent the poisonous emission.
The lawmakers accused the companies of deliberately taken the residents for granted without considering the danger their operations posed to the lives of the people.
Salaam assured that the House would do the needful to preserve the lives of the people of the state.
The Speaker then directed the Clerk of the House to invite state and federal environmental agencies and the management of the steel companies to find solutions to the matter. (NAN)
VE/FF/WOJ
(Edited by Fela Fashoro / Wale Ojetimi)

NAN-HE-1
Power
By Yunus Yusuf
Lagos, Nov. 2, 2016 (NAN) The Eko Electricity Distribution Company Plc (EKEDCP) on Wednesday said it had spent over N1.44 billion on projects expansion to boost electricity supply to customers in the last three years.

The EKEDCP Chief Executive Officer, Mr Oladele Amoda, disclosed this at a news conference in Lagos to mark three-year post privatisation of handing over distribution companies to owners.

The News Agency of Nigeria (NAN) reports that the Federal Government on Nov. 1, 2013, handed over the transactions of the five generation companies and 11 distribution companies to private owners.

Amoda said that the company embarked on massive rehabilitation and reinforcement of its dilapidated network, adding that over 400 transformers had been installed in various locations to reduce low shedding of supply.

He said that the company also embarked on new construction of five injector substations within its network to beef up supply to major areas of the state, expected to be completed in the third quarter of 2017.

“We have commenced construction of five 33/11KVA injection substations in Surulere , Ikoyi and Ajah axis which will cost the company over N1 billion.

“ EKO disco had made modest improvement in electricity supply in the last three years of post-privatisation but still confronted with little challenges.

“Over N1.44 billion had been spent on various projects expansion within the company to boost electricity supply to customers in the last three years,’’ NAN quotes him as saying.

The EKEDCP boss said that over N53 billion would be required for effective metering of customers within its network.

Amoda said that over N5 billion had been spent on metering of maximum demand and non-maximum demand customers to date.

He said that about 6,000 meters had been pencilled down for roll-out to different customers, while 67,000 had been installed out of 187,000 meters delivered by the manufacturer.

Amoda said that energy theft and vandalism of equipment posed serious challenges to the company, adding that billions of naira had been spent on replaced vandalised equipment.

He said that the money that was meant for expansion and development of the network was used to replace vandalised equipment, which posed serious concern to the company.

The chief executive said that in spite of the successes recorded, the company was still faced with liquidity challenges which stood at N900 billion gap due to high rate of foreign exchange.

He said that policies of government on foreign exchange had made international lenders skeptical of giving loans to power industry in the country.

According to him, the inability of Federal Government Ministries, Departments and Agencies (MDAs) to pay their outstanding debts of over N11billion being owed to EKEDCP as at July 2016.

He said that the debt had affected the company greatly.

“To enhance productivity of the workforce, staff had undergone training and are still going through training in different areas in business process development.

“In strategic customer relationship, safety, technical efficiency and revenue cycle management.

“We have invested over N55.2 million on staff training and capacity development,’’ NAN quotes Amoda as saying. (NAN)
YO/ENN/AJA
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(Edited by Edwin Nwachukwu/Adeleye Ajayi)

NAN-H-83

JAMB

By Chinyere Nwachukwu

Lagos, Nov. 2, 2016 (NAN) The Joint Admissions and Matriculation Board (JAMB) says it will adopt “pin vending”  for the 2017 UTME test, advising intending candidates to get familiar with the new approach.

Dr Fabian Benjamin, the board’s Head of Media and Information, told the News Agency of Nigeria (NAN) on Wednesday in Lagos that it would no longer use scratch cards.

“Candidates, wishing to sit for the 2017 examination, should start getting themselves familiar with the newly adopted process of pin vending by the board.

“We must make ourselves open to change like it is obtained in other climes.

“We are no longer going back to the use of scratch card; that method is outdated.

“Candidates wishing to register for the examination will just make online payment and get a pin with which they can upload their data.

“This new pin vending will be accessible through the options of web payment, ATM issued cards like Visa, Verve, and Master card, online Quick Teller, mobile application and Bank Branch case/card.’’

Benjamin assured that the board was working hard to redress all challenges experienced by candidates during its 2016 UTME as it was preparing for the 2017 diet.

He said that all hands were on deck to ensure a hitch free conduct of the examination across the country.

“Preparations are on to ensure that all the technical hitches that manifested in the 2016 Unified Tertiary Matriculation Examination (UTME) do not arise again.

“That is not to say that the examination will be completely hitch-free.

“But we are deploying resources to correct the ones identified already.

“In the course of the examination, should there be any other new challenges, we will act promptly.’’

The spokesman also said that the board would begin validation of UTME centres across the country soon.

“We shall be going round to the proposed centres to check the state of their facilities and also to ensure that such facilities could accommodate a minimum of 250 candidates,’’ he said.

NAN reports that some candidates, who sat for the 2016 examination, complained of various technical hitches.

Such challenges ranged from incomplete upload of questions from servers to poor backup facilities in some centres among others.

NAN also recalls that the board’s Registrar, Prof. Ishaq Oloyede,  recently announced the scrapping of the use of scratch card, describing it as outdated.

He said the board decided to do away with the method because of its consistent subjection to fraudulent practices. (NAN)

CCN/AIB/MO/

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Edited by Abdulfatah Babatunde/Morayo Omolade

NAN-AE-5

Farmers
Dutse, Nov 2, 2016 (NAN) Farmers in Jigawa on Wednesday appealed to the state government to ensure early distribution of fertiliser and improved seeds for enhanced productivity.

A cross section of farmers, who spoke with the News Agency of Nigeria (NAN) in Dutse, said the delay could adversely affect their produce.

Malam Sani Shehu, a wheat farmer in Kafin-Gana said that they were told that the government would provide them with some farm inputs adding that they were still waiting.

Shehu said that going by nature of wheat, farmers must plant before the end of November because wheat planting was best done during cold season.

Bello Surajo, a rice farmer in Miga, appealed to the government to direct service providers to distribute fertilisers and improved seeds at the appropriate time.

Surajo explained that late arrival of farm inputs often experienced would not be useful to farmers during the dry season.

He said that farmers in the area were ready to contribute in ensuring food security in the state but they must be encouraged by the government.

Another farmer, Yahaya Adamu in Sintirima urged the government to monitor distribution officials and ensure that right people were given the fertilisers and seeds.

He commended the present administration for giving agriculture a top priority. (NAN)
MS/MNA/AFA
Edited by Maureen Atuonwu/Felix Ajide
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NAN-H-81

Training

By Kate Obande

Abuja, Nov. 2, 2016 (NAN) The United Nations Children Education Fund (UNICEF) has called for the training of teachers on girl-child development to enable the girls to overcome timidity in the society.

Mrs Azuka Menkiti made the call in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

She said that improved capacity of teachers on girl-child development would enable them deliver effective learning for girls.

Menkiti explained that the training was essential as it would allow teachers to spend more instructional time with the girls, interact with them and groom them to become great women in the society.

“There is need for improved capacity of teachers’ to deliver effective learning for girls and to ensure that they spend more time with the girls.

“Girls are the future mothers and they have to be well groomed.

“The teachers should be able to help them build their self confidence which will go a long way in curbing the abuse the girl-child faces in the society.’’

According to her, the female children are more vulnerable to abuse in the society.

Menkiti explained that girl-child teachers should be able to enlighten the girls on how to be self confident and avoid occasions that could lead to any form of abuse, particularly rape.

She said that the training should focus on the development of teachers’ IQ, best classroom practices and awareness on the importance of self confidence in girls.

Menkiti told NAN that UNICEF has plans to embark on such training for some of the teachers in the northern part of the country.

According to her, the training will be done on the platform of their phase 3 Girls Education Project (GEP3) which is being implemented in Katsina, Zamfara, Sokoto,  Bauchi and Niger. (NAN)

KTE/MO/

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Edited by Morayo Omolade