Written by Leon Usigbe, Abuja Thursday, 29 July 2010
CENTRAL Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido, says the Federal Government is not pursuing the right economic policies and, therefore, no amount of reform in the banking sector could revive the economy.
He also observed that the about N500 billion yearly subsidy on petroleum was discouraging investments in refineries apart from piling up debts for future generations of Nigerians to pay.
The apex bank’s boss, who made the assertion in an interview with State House correspondents just before the commencement of the Federal Executive Council (FEC) meeting in Abuja, on Wednesday, also regretted the suspension of the Board of the Nigerian Electricity Regulatory Commission (NERC), which, he said, had left the power sector without a regulatory body.
According to him, “we are spending N500 billion subsidies on petroleum products and nobody will invest in refineries if they believe that their business model is predicated on government subsidy. We are borrowing N500 billion on subsidies every year, we are borrowing money and we are leaving future generation to pay the debt and the benefits of these subsidies are far outweighed by the long-term cost to the economy.”
Sanusi, who spoke of efforts to recapitalise the banks and improve their balance sheets, pointed out that the capital market was recovering as government was making progress with reforms.
However, he observed that “the reality is that the government is not pursuing the right economic policies and nothing in the banking reform will fix the economy, unless you fix policy and I say this as an adviser to the government.”
He added that “what is happening is that there is a difference between the real sector and the financial sector of the economy. We are doing what we need to do on the banking system and the banking system is stabilising and with the Asset Management Corporation (AMCON) and once we recapitalise the banks it will improve the balance sheets of bank and the banks will be back up.
“The capital market, as you can see, has been recovering and the government continues to make progress as far as the reforms are concerned. Having said that, the financial system does not live in isolation, you have got to fix the issues of the economy and the CBN is not responsible for that.
“You have an economy in which you do not have power. If you don’t have electricity you cannot attract investors; you cannot improve production. We don’t have power, because the reforms that ought to have carried out in four years have not been done. We keep talking and talking and talking and we have not yet created the right environment and we don’t even have a regulator for power,” Sanusi noted.
Speaking specifically on power, he regretted that the NERC Board, which was suspended last year, was yet to be reactivated thereby denying the power sector of a regulatory agency.
“There is a regulatory agency, NERC, but the commission has been suspended for how many years? It’s not functioning. And how can you have a sector like power when you don’t have a regulator? It has been suspended for how many years?” he wondered.
He also advocated the deregulation of electricity as he noted that the current tariff charged in the country was too low and unsustainable.
“I am saying we have got to have a regulator; we have got to have good input for gas pricing. It will encourage investments, deregulate electricity prices, this N7 is a myth because nobody gets power at that price. Ghana is paying N22. If we increase it to N22 and you increase gas prices, investments will come into power. We have not done. That is the issue,” he declared.
Wednesday, July 28, 2010
NUC threatens to withdraw LAUTECH’s licence •Gives Oyo, Osun 2 weeks to resolve crisis •About 20 varsities may be closed down
Written by Clement Idoko and Emmanuel Adeniyi Thursday, 29 July 2010
THE National Universities Commission (NUC) has threatened to withdraw the operational licence of Ladoke Akintola University of Technology (LAUTECH) Ogbomoso, if, within two weeks, the management of the institution is unable to resolve the crisis rocking the university.
NUC Executive Secretary, Professor Julius Okojie, who handed down the ultimatum in Abuja while speaking at the Mock-Institutional Accreditation Coordination meeting, on Wednesday, called on Governors Adebayo Alao-Akala and Olagunsoye Oyinlola of Oyo and Osun states to resolve the crisis amicably or lose the licence of the university.
The university is jointly owned by Oyo and Osun state governments but has been at the centre of controversy in the last few months over ownership, leading to the dissolution of its Governing Council by the Osun State governor.
The NUC boss was particularly worried that the crisis was coming at the time the commission was oiling its machinery for the conduct of Institutional Accreditation of the 104 universities in the country, adding that the commission had concluded arrangements to begin a pilot scheme of the exercise in six selected universities across the country by next month.
Okojie lamented that as a result of the crisis, students could not go to the university for post-Unified Tertiary Matriculation Examination (post-UTME) test, while lecturers too were no longer teaching, adding that NUC was worried about who the vice chancellor of the university is at the moment.
In the same vein, former NUC Executive Secretary and Chief Trainer of the institutional accreditation, Panel, Professor Peter Okebukola, speaking at the meeting on the proposed institutional accreditation expected to take off before the end of the year, revealed that about five per cent of the 104 existing universities in Nigeria would be closed down by the NUC.
According to the instrument designed for the Institutional Accreditation, which is going to be the first of its kind in the country, universities that score 40 per cent would be placed in F category, indicating that it has failed and would be denied accreditation while those that score between 40 and 49 would be placed on probation for one year to allow them to remedy their deficiencies.
Also, the institutions that score 80 per cent and above would be rated A+ and granted full accreditation for a 10-year lifespan, but those that score 70-79 will fall under A category, even though they would as well enjoy a 10-year lifespan of full accreditation.
Other categorisations include 50-54 per cent, C; 55-59 per cent, C+; 60-64 per cent, B; 65-69 per cent, B+ and would be granted Interim Accreditation for three and five years; full accreditation for eight years respectively.
Okebukola had explained that the institutional accreditation, which would be exhaustive, would be conducted in relation to the set minimum standards, including, institutional vision, mission and strategic goals, governance and administration, resources, quality of teaching, research and learning infrastructure, efficiency and effectiveness, extension service and consultancies, transparency, financial management, stability and general ethos.
“There are some universities in Nigeria that look like glorified secondary schools, but all of them would disappear when the exercise takes off fully. In 2006 when the World Bank and United Nations Education, Social and Cultural Organisation (UNESCO) organised a world conference on institutional accreditation, it was reported that in Chile, as a consequence of institutional accreditation, 36 universities were closed permanently,” he said.
He said the polity in the nation’s universities system would be boosted if the institutional accreditation was sustained.
“We must continue to move in the direction whereby only the fittest will survive in a world of polity in the higher education,” he said.
Meanwhile, the Osun State government has warned against attacks on its citizens working in LAUTECH, Ogbomoso, while calling on Oyo State to embrace peace.
A statement issued by the state Attorney-General and Commissioner for Justice, Mr Niyi Owolade, said the warning had become necessary, following reports of attacks on the office of the acting registrar of the institution, Mr Olusegun Ojo, by some agents of the Oyo State government.
The statement added that the Attorney-General had been informed that certain persons claiming to be officials of the university had locked up the office of the acting registrar, the only principal officer of the university from Osun State.
Owolade called on security agencies to protect lives and property of all Osun State indigenes in Ogbo-moso, while assuring staff and students of the school of the commitment of the state government to ensuring peace in the university.
However, barely two days after Governor Oyinlola dissolved the governing council of LAUTECH and announced the appointment of Professor J. O. Ojerinde as the new acting vice chancellor of the institution, the appointee has rejected the offer, hinging his decision on irregular process of the appointment and personal reasons.
Oyinlola had, on Monday, announced Professor Oje-rinde, an indigene of Oyo State, as a replacement for Professor Nassar Olanre-waju, who was appointed by Governor Alao-Akala.
The governor, prior to the announcement of the acting vice chancellor, had criti-cised the decision of the Oyo State government to disengage Osun State from the joint ownership of the institution, as well as the removal of the erstwhile vice chancellor, Professor Benjamin Adeleke, by Governor Alao-Akala.
In a letter, entitled Re: Appointment as Acting Vice Chancellor, LAUTECH Ogbo-moso, addressed to the Osun State governor, a copy of which was made available to the Nigerian Tribune, Professor Ojediran thanked Governor Oyinlola for considering him worthy for the position, but said he was not ready to take it up.
“I humbly and with gratitude refer to your letter, Ref: EG/OSGH/105 of July 26, 2010 on the above subject matter. I thank your Excellency for your considerations and for counting me worthy of such great and enviable position.
“However, I regret to inform you of my inability to take up the position for two important reasons viz: 1, the process of appointment appears irregular, 2, I feel constrained in accepting the appointment also for very personal reasons,” the letter read.
Meanwhile, the Osun State government has stressed that the appointment of Professor Ojediran as the acting vice chancellor by Governor Oyinlola was normal and regular as enshrined in the edict that set up the university.
It also said it would not allow illegal persons and bodies to run the affairs of the university jointly owned by Oyo and Osun states.
A statement issued by the Chief Press Secretary to Governor Oyinlola, Mr Lasisi Olagunju, in a reaction to reports of Ojediran declining to act as vice chancellor, said the state government understood the circumstances under which he was made to decline to act, two days after he got the appointment letter.
The statement said asking the deputy vice chancellor of the university to act as the vice chancellor was an administrative procedure made automatic by the university’s statutes, adding that with the decision of Ojediran, on Wednesday, the university no longer had a legal vice chancellor to oversee its affairs.
Olagunju added that it was in an effort to avoid usurpers claiming the vice chancellorship of the university that the policy makers of the institution made it clear that the deputy vice chancellor should act as vice chancellor whenever the latter proceeded on leave or was otherwise unable to function for whatever reason.
THE National Universities Commission (NUC) has threatened to withdraw the operational licence of Ladoke Akintola University of Technology (LAUTECH) Ogbomoso, if, within two weeks, the management of the institution is unable to resolve the crisis rocking the university.
NUC Executive Secretary, Professor Julius Okojie, who handed down the ultimatum in Abuja while speaking at the Mock-Institutional Accreditation Coordination meeting, on Wednesday, called on Governors Adebayo Alao-Akala and Olagunsoye Oyinlola of Oyo and Osun states to resolve the crisis amicably or lose the licence of the university.
The university is jointly owned by Oyo and Osun state governments but has been at the centre of controversy in the last few months over ownership, leading to the dissolution of its Governing Council by the Osun State governor.
The NUC boss was particularly worried that the crisis was coming at the time the commission was oiling its machinery for the conduct of Institutional Accreditation of the 104 universities in the country, adding that the commission had concluded arrangements to begin a pilot scheme of the exercise in six selected universities across the country by next month.
Okojie lamented that as a result of the crisis, students could not go to the university for post-Unified Tertiary Matriculation Examination (post-UTME) test, while lecturers too were no longer teaching, adding that NUC was worried about who the vice chancellor of the university is at the moment.
In the same vein, former NUC Executive Secretary and Chief Trainer of the institutional accreditation, Panel, Professor Peter Okebukola, speaking at the meeting on the proposed institutional accreditation expected to take off before the end of the year, revealed that about five per cent of the 104 existing universities in Nigeria would be closed down by the NUC.
According to the instrument designed for the Institutional Accreditation, which is going to be the first of its kind in the country, universities that score 40 per cent would be placed in F category, indicating that it has failed and would be denied accreditation while those that score between 40 and 49 would be placed on probation for one year to allow them to remedy their deficiencies.
Also, the institutions that score 80 per cent and above would be rated A+ and granted full accreditation for a 10-year lifespan, but those that score 70-79 will fall under A category, even though they would as well enjoy a 10-year lifespan of full accreditation.
Other categorisations include 50-54 per cent, C; 55-59 per cent, C+; 60-64 per cent, B; 65-69 per cent, B+ and would be granted Interim Accreditation for three and five years; full accreditation for eight years respectively.
Okebukola had explained that the institutional accreditation, which would be exhaustive, would be conducted in relation to the set minimum standards, including, institutional vision, mission and strategic goals, governance and administration, resources, quality of teaching, research and learning infrastructure, efficiency and effectiveness, extension service and consultancies, transparency, financial management, stability and general ethos.
“There are some universities in Nigeria that look like glorified secondary schools, but all of them would disappear when the exercise takes off fully. In 2006 when the World Bank and United Nations Education, Social and Cultural Organisation (UNESCO) organised a world conference on institutional accreditation, it was reported that in Chile, as a consequence of institutional accreditation, 36 universities were closed permanently,” he said.
He said the polity in the nation’s universities system would be boosted if the institutional accreditation was sustained.
“We must continue to move in the direction whereby only the fittest will survive in a world of polity in the higher education,” he said.
Meanwhile, the Osun State government has warned against attacks on its citizens working in LAUTECH, Ogbomoso, while calling on Oyo State to embrace peace.
A statement issued by the state Attorney-General and Commissioner for Justice, Mr Niyi Owolade, said the warning had become necessary, following reports of attacks on the office of the acting registrar of the institution, Mr Olusegun Ojo, by some agents of the Oyo State government.
The statement added that the Attorney-General had been informed that certain persons claiming to be officials of the university had locked up the office of the acting registrar, the only principal officer of the university from Osun State.
Owolade called on security agencies to protect lives and property of all Osun State indigenes in Ogbo-moso, while assuring staff and students of the school of the commitment of the state government to ensuring peace in the university.
However, barely two days after Governor Oyinlola dissolved the governing council of LAUTECH and announced the appointment of Professor J. O. Ojerinde as the new acting vice chancellor of the institution, the appointee has rejected the offer, hinging his decision on irregular process of the appointment and personal reasons.
Oyinlola had, on Monday, announced Professor Oje-rinde, an indigene of Oyo State, as a replacement for Professor Nassar Olanre-waju, who was appointed by Governor Alao-Akala.
The governor, prior to the announcement of the acting vice chancellor, had criti-cised the decision of the Oyo State government to disengage Osun State from the joint ownership of the institution, as well as the removal of the erstwhile vice chancellor, Professor Benjamin Adeleke, by Governor Alao-Akala.
In a letter, entitled Re: Appointment as Acting Vice Chancellor, LAUTECH Ogbo-moso, addressed to the Osun State governor, a copy of which was made available to the Nigerian Tribune, Professor Ojediran thanked Governor Oyinlola for considering him worthy for the position, but said he was not ready to take it up.
“I humbly and with gratitude refer to your letter, Ref: EG/OSGH/105 of July 26, 2010 on the above subject matter. I thank your Excellency for your considerations and for counting me worthy of such great and enviable position.
“However, I regret to inform you of my inability to take up the position for two important reasons viz: 1, the process of appointment appears irregular, 2, I feel constrained in accepting the appointment also for very personal reasons,” the letter read.
Meanwhile, the Osun State government has stressed that the appointment of Professor Ojediran as the acting vice chancellor by Governor Oyinlola was normal and regular as enshrined in the edict that set up the university.
It also said it would not allow illegal persons and bodies to run the affairs of the university jointly owned by Oyo and Osun states.
A statement issued by the Chief Press Secretary to Governor Oyinlola, Mr Lasisi Olagunju, in a reaction to reports of Ojediran declining to act as vice chancellor, said the state government understood the circumstances under which he was made to decline to act, two days after he got the appointment letter.
The statement said asking the deputy vice chancellor of the university to act as the vice chancellor was an administrative procedure made automatic by the university’s statutes, adding that with the decision of Ojediran, on Wednesday, the university no longer had a legal vice chancellor to oversee its affairs.
Olagunju added that it was in an effort to avoid usurpers claiming the vice chancellorship of the university that the policy makers of the institution made it clear that the deputy vice chancellor should act as vice chancellor whenever the latter proceeded on leave or was otherwise unable to function for whatever reason.
After Bakassi, Cameroun moves to claim Obudu •It’s an empty threat -Cross River govt
Written by Oluwole Ige, Calabar Thursday, 29 July 2010
STILL basking in the euphoria of the ceding of Bakassi Peninsula to it through the World Court ruling at The Hague in 2002, indication has emerged that Cameroun has perfected plans to claim the ownership of Obudu Cattle Ranch Resort in Obanliku Local Government Area of Cross River State.
However, the Cross River State government has described such claims as an empty threat, saying “it can never happen, because it is a day dream.”
Reacting to the development in Calabar, on Tuesday, the Director-General of the Cross River State Border Communities Development Commission (SBCDC), Mr Leo Aggrey, said the matter was still considered an unsubstantiated rumour by the state government.
According to Aggrey, “the Camerounians are threatening to take over the Obudu Ranch Resort, the Cross River State tourism haven. This is quite surprising and we are not treating this matter with levity. I have already forwarded a memo to the state governor, Senator Liyel Imoke, concerning this new threat.”
He, however, described the development as an “empty threat” as anything serious on that would have been decided at the International Court of Justice (ICJ) at The Hague ‘’as was the case with the oil-rich Bakassi.’’
Aggrey, who noted that the nation’s loss of Bakassi to Cameroun was painful in terms of potential revenue from the area and the displacement of Nigerians resident in the area, maintained that “the state government would not fold its arms and allow Obudu Cattle Ranch to be illegally claimed again.”
On Bakassi, Mr Aggrey said the state government had continued to accord priority attention to the needs of the displaced Bakassi people in respect of their plight, stating that a number of projects had been outlined for them to cushion the effects of their relocation.
The DG said although the State Emergency Management Agency(SEMA) had addressed certain needs of the displaced persons, a lot more needed to be done to assuage them, stressing that his commission had outlined areas of priorities and needs that the government was poised to address for the displaced.
‘’Bakassi matter is a creation of the partition for Africa. And the Cross River State government is very passionate about the Bakassi people and the boundary areas of the state,’’ Aggrey added.
STILL basking in the euphoria of the ceding of Bakassi Peninsula to it through the World Court ruling at The Hague in 2002, indication has emerged that Cameroun has perfected plans to claim the ownership of Obudu Cattle Ranch Resort in Obanliku Local Government Area of Cross River State.
However, the Cross River State government has described such claims as an empty threat, saying “it can never happen, because it is a day dream.”
Reacting to the development in Calabar, on Tuesday, the Director-General of the Cross River State Border Communities Development Commission (SBCDC), Mr Leo Aggrey, said the matter was still considered an unsubstantiated rumour by the state government.
According to Aggrey, “the Camerounians are threatening to take over the Obudu Ranch Resort, the Cross River State tourism haven. This is quite surprising and we are not treating this matter with levity. I have already forwarded a memo to the state governor, Senator Liyel Imoke, concerning this new threat.”
He, however, described the development as an “empty threat” as anything serious on that would have been decided at the International Court of Justice (ICJ) at The Hague ‘’as was the case with the oil-rich Bakassi.’’
Aggrey, who noted that the nation’s loss of Bakassi to Cameroun was painful in terms of potential revenue from the area and the displacement of Nigerians resident in the area, maintained that “the state government would not fold its arms and allow Obudu Cattle Ranch to be illegally claimed again.”
On Bakassi, Mr Aggrey said the state government had continued to accord priority attention to the needs of the displaced Bakassi people in respect of their plight, stating that a number of projects had been outlined for them to cushion the effects of their relocation.
The DG said although the State Emergency Management Agency(SEMA) had addressed certain needs of the displaced persons, a lot more needed to be done to assuage them, stressing that his commission had outlined areas of priorities and needs that the government was poised to address for the displaced.
‘’Bakassi matter is a creation of the partition for Africa. And the Cross River State government is very passionate about the Bakassi people and the boundary areas of the state,’’ Aggrey added.
Tuesday, July 27, 2010
2011: S/South endorses Jonathan •Pressure on Northern govs to dump zoning
Written by Bolaji Ogundele, Dipo Laleye, Isaac Shobayo, Leon Usigbe and Idowu Samuel Tuesday, 27 July 2010
POLITICAL stakeholders in the South-South region on Monday unanimously endorsed President Goodluck Jonathan to contest the 2011 presidential election just as it called for the support of the North and other geopolitical zones.
In a 13-point communiqué read by Professor Julius Ihonvbere at the end of a one-day summit with the theme “Dynamics of the 2011 Presidential Election in Nigeria – The South-South Perspective,” the South-South urged President Jonathan to immediately declare his intentions to the Nigerian people.
The communiqué noted that the Nigerian constitution gave full rights to President Jonathan to aspire to the position of the president, arguing that the zone, in spite of its enormous contributions to the country’s GDP, was yet to produce a president in 50 years of Nigeria’s existence.
While acknowledging the resolutions of the Northern Political Summit in Kaduna State recently, the summit commended them for patriotism and commitment to fair play.
The communiqué acknowledged the efforts of the late President Umaru Yar’Adua (GCFR) at repositioning the country by entrenching due process, rule of law and fight against corruption, saying their support for President Jonathan and Vice-President Namadi Sambo was to enable them to actualise the late president’s reform agenda.
The South-South stakeholders expressed confidence in President Jonathan’s resolve to give Nigerians credible electoral reforms, by appointing a world-acclaimed social crusader, Professor Attahiru Jega, as the country’s electoral umpire, and called on all Nigerians to support the full implementation of the Justice Uwais Committee recommendation which includes total independence of INEC.
The summit particularly acknowledged the power sector agenda of President Jonathan, his crusade against corruption, historic achievement in the improvement in the country’s foreign reserves and his efforts at ensuring security for all Nigerians.
The summit resolved as follows:
“To work assiduously and in unison with other geopolitical zones in Nigeria to ensure the country remains one, indivisible, secular entity, where all peoples, irrespective of ethnicity, religion, party affiliation, of equal rights and privileges as enshrined in the Nigeria Constitution.
“Summit recognises that it is time to collectively transcend primordial sentiments and dispositions in the conversations of national affairs in order to build strong, viable and democratic blocs for peace and progress. The South-South can only make progress when the leaders, communities and constituencies unite, work together, strategise together and speak with one voice.
“The summit acknowledges and commends the efforts of the governors of the South-South region towards bringing development and unity to the region.
“The summit appreciates and acknowledges the enormous efforts and contributions our detribalised and great democrat, the late President Umaru Yar’Adua (GCFR) at entrenching due process, the rule of law and fight against corruption for peace in the Niger Delta region through the amnesty
programme, reforms in the power and energy sector, as well as electoral reforms, as well as giving a level playing field for all politically-inclined Nigerians to attain their aspirations.
“The summit, however, notes with deep sorrow and regrets that the inevitable call of nature could not allow our late president to accomplish these reformatory agenda.
“Arising from the above, the summit resolves to support the winning team of President Goodluck Ebele Jonathan (GCFR) and Vice-President, Mohammed Namadi Sambo (GCON) in their quest to take the reform agenda to a logical conclusion for the benefit of all Nigerians.
“Summit believes in President Jonathan’s resolve to give Nigerians credible electoral reforms, which began by appointing a world-acclaimed social crusader and defender of equity, honesty and integrity, Professor Attahiru Jega, the country’s new chairman of the Independent National Electoral Commission (INEC) and calls on all Nigerians to support the full implementation of the Justice Uwais Committee recommendation which includes total independence of INEC.
“Summit notes with delight, the power sector agenda of President Goodluck Jonathan, his crusade against corruption, the historic achievement in the improvement in our foreign reserves and his earnest practical efforts at ensuring practical security of all Nigerians at home and in the disapora.
“In addition, summit acknowledges and commends the untiring efforts of Mr. President to reposition Nigeria and rekindle the confidence of the international community in Nigeria’s political system.
“Summit acknowledges and fully appreciates the resolutions of the recently held Northern Political Summit in Kaduna and urges all Nigerians to support President Goodluck Jonathan in the onerous task providence has bestowed on him to move Nigeria forward beyond 2011.”
“Summit commends the Northern Political Summit for their patriotism, clear vision, commitment to fair play and justice and undiluted appreciation of the rights and liberties of all Nigerians.
“Summit believes in the incontrovertible position of the Nigerian constitution that gives full rights to President Goodluck Jonathan above all other considerations to aspire to the position of the president at the 2011 elections, more so, the zone, in spite of its enormous contributions to the Gross Domestic Products (GDP), is yet to produce a president or head of state in the 50 years of Nigeria’s existence as a sovereign nation.
“Summit hereby unanimously calls on Dr Jonathan to openly declare his interest in the 2011 presidential election without further delay, while assuring him of total and undiluted support of the entire South-South, summit calls on all other geopolitical zones, organisations, communities and constituencies to support quest to deepen, widen and consolidate democracy by supporting Jonathan for president,” the communiqué read.
Meanwhile, as the Northern Governors’ Forum meet today in Kaduna, to decide on the zoning formula of the Peoples Democratic Party (PDP), indications have emerged that the governors are under intense pressure to reject the zoning formula.
Their position is crucial to the political future of President Jonathan, who has not declared whether he will run for the 2011 elections or not.
At their last meeting, the governors could not make a decision on the zoning issue, but they resolved that they should go back to their states to consult with the elders in their domain and reconvene today for a final push on the matter.
However, the Niger State government has said it will abide by the decision of the forum when they meet in Kaduna today.
He also said in Minna, on Monday, that zoning or no zoning, Governor Mu’azu Babangida Aliyu would contest the 2011 goverorship election.
Director, Media and Publicity to the Governor, Alhaji Ibrahim Abdulkhadir, said the people of Niger State had expressed their preference for zoning to be retained, adding that “our decision cannot be binding on the majority.
“We will follow the decision of the majority,” Abdu-khadir said.
He said the decision of Governor Aliyu to contest, “zoning or no zoning,” was informed by the fact that the people had told him to continue in office beyond 2011 and the governor himself was prepared to continue to serve the people.
At a mass rally in Kontagora, last year, Governor Aliyu was endorsed as the PDP candidate for the 2011 election.
The governor, last month, forwarded his letter of intent to the PDP secretariat.
The state PDP had already zoned the governorship of the state to Niger East senatorial district, the area of the incumbent governor.
Ahead of today’s meeting in Kaduna, the Plateau State coordinator of President Goodluck Jonathan Support Group, Mr Bulus Dareng, has said nothing would make the state and the entire North-Central change their position on zoning.
Speaking with the Nigerian Tribune in Jos, Dareng, who said Plateau State had since made its position known on zoning through its governor, Jonah Jang, added that various stakeholders in Plateau State had, at different fora, equally frowned on zoning.
He said the recent pronouncement of Ambassador Yahaya Kwande that Plateau State was in support of zoning was just a ploy to deceive the country, adding that the people of the state had spoken and declared their support for President Jonathan to contest in 2011.
“There is nothing like monolithic North any more. What some people call the North is just 19 independent states capable of taking decision individually. We are talking of democracy, the myth of the North is no longer there and nobody has a blank cheque for the North,” he said.
According to him, the group canvassing for zoning in the North was speaking for itself, not for the North as a whole. If you check their backgrounds, its members were those who wanted the status quo to be maintained for their selfish interest.
“Those who want the status quo maintained are the ones behind zoning, they want to keep recycling themselves to the detriment of the common man and we have matured enough as a nation to abandon zoning.
“Anybody who is still talking about zoning in these modern times does not wish the country well,” he said.
Dareng advised former heads of state, General Ibrahim Babangida and General Muhammadu Buhari, to stay away from politics and play an advisory role, adding that it was morally wrong for them to be scheming to become president again.
Meanwhile, the Good-luck Nigeria Group (GNG), has written to the Northern Governors’ Forum, explaining why its members should support the call to do away with the zoning policy of the PDP and pave the way for Jonathan to run in the 2011 presidential election.
Addressing a press conference in Abuja, on Monday, its national coordinator, Mr Cyril Ezeani, said the group was uncomfortable with the apparent opposition of sections of the North to the possible participation in the election by President Jonathan.
He said the North should realise that it was no longer monolithic and wondered why those who claimed to be speaking for the region on the issue believed they had the mandate of the entire region.
The group argued that the presence of President Jonathan today in the seat of power was by providence, which, it said, had “given us once in-a-million-years opportunity to get things right in this country.”
It added that “the current shadow boxing over the zoning of political offices by persons and groups who try to present themselves as speaking for the North is ill-advised, retrogressive and designed to embarrass the majority of our northern brothers and sisters who see no merit in the incoherent clamour of a vocal few.
“The primary concern of all well-meaning Nigerians today is to be part of a new Nigeria that places higher national interest above temporary political contrivances which only emphasise the things that divide us, undermine trust and a feeling of oneness,” he said.
The GNG further observed that the zoning in PDP, which some people in the North were clamouring for, had been virtually non-existent, as it had been violated since 1999.
“We should also ask which North is insisting on zoning. There are three geopolitical zones in the so-called North and Nigerians would like to know whether it is the North-East, North-West or North-Central that is said to be talking.
“Nigerians will also be interested to find out if there has been a conference of the North at which a vote was taken and some people were thereafter mandated to make their position known to other Nigerians.
“Our group will not raise any issues if the North that is insisting on ‘zoning’ is a purely imaginary entity, existing as a figment of some people’s imagination.
“It is not within our purview to question the contents of anyone’s imaginative faculty.
“We shall only observe that there are northern members of other political parties besides the PDP and the growing pretence that there is some monolithic North which has taken a position on key national issues is a delusion for which some people need a quick and lasting cure.
“We are here to assure the world that there is no such entity and no such consensus,” the group declared.
POLITICAL stakeholders in the South-South region on Monday unanimously endorsed President Goodluck Jonathan to contest the 2011 presidential election just as it called for the support of the North and other geopolitical zones.
In a 13-point communiqué read by Professor Julius Ihonvbere at the end of a one-day summit with the theme “Dynamics of the 2011 Presidential Election in Nigeria – The South-South Perspective,” the South-South urged President Jonathan to immediately declare his intentions to the Nigerian people.
The communiqué noted that the Nigerian constitution gave full rights to President Jonathan to aspire to the position of the president, arguing that the zone, in spite of its enormous contributions to the country’s GDP, was yet to produce a president in 50 years of Nigeria’s existence.
While acknowledging the resolutions of the Northern Political Summit in Kaduna State recently, the summit commended them for patriotism and commitment to fair play.
The communiqué acknowledged the efforts of the late President Umaru Yar’Adua (GCFR) at repositioning the country by entrenching due process, rule of law and fight against corruption, saying their support for President Jonathan and Vice-President Namadi Sambo was to enable them to actualise the late president’s reform agenda.
The South-South stakeholders expressed confidence in President Jonathan’s resolve to give Nigerians credible electoral reforms, by appointing a world-acclaimed social crusader, Professor Attahiru Jega, as the country’s electoral umpire, and called on all Nigerians to support the full implementation of the Justice Uwais Committee recommendation which includes total independence of INEC.
The summit particularly acknowledged the power sector agenda of President Jonathan, his crusade against corruption, historic achievement in the improvement in the country’s foreign reserves and his efforts at ensuring security for all Nigerians.
The summit resolved as follows:
“To work assiduously and in unison with other geopolitical zones in Nigeria to ensure the country remains one, indivisible, secular entity, where all peoples, irrespective of ethnicity, religion, party affiliation, of equal rights and privileges as enshrined in the Nigeria Constitution.
“Summit recognises that it is time to collectively transcend primordial sentiments and dispositions in the conversations of national affairs in order to build strong, viable and democratic blocs for peace and progress. The South-South can only make progress when the leaders, communities and constituencies unite, work together, strategise together and speak with one voice.
“The summit acknowledges and commends the efforts of the governors of the South-South region towards bringing development and unity to the region.
“The summit appreciates and acknowledges the enormous efforts and contributions our detribalised and great democrat, the late President Umaru Yar’Adua (GCFR) at entrenching due process, the rule of law and fight against corruption for peace in the Niger Delta region through the amnesty
programme, reforms in the power and energy sector, as well as electoral reforms, as well as giving a level playing field for all politically-inclined Nigerians to attain their aspirations.
“The summit, however, notes with deep sorrow and regrets that the inevitable call of nature could not allow our late president to accomplish these reformatory agenda.
“Arising from the above, the summit resolves to support the winning team of President Goodluck Ebele Jonathan (GCFR) and Vice-President, Mohammed Namadi Sambo (GCON) in their quest to take the reform agenda to a logical conclusion for the benefit of all Nigerians.
“Summit believes in President Jonathan’s resolve to give Nigerians credible electoral reforms, which began by appointing a world-acclaimed social crusader and defender of equity, honesty and integrity, Professor Attahiru Jega, the country’s new chairman of the Independent National Electoral Commission (INEC) and calls on all Nigerians to support the full implementation of the Justice Uwais Committee recommendation which includes total independence of INEC.
“Summit notes with delight, the power sector agenda of President Goodluck Jonathan, his crusade against corruption, the historic achievement in the improvement in our foreign reserves and his earnest practical efforts at ensuring practical security of all Nigerians at home and in the disapora.
“In addition, summit acknowledges and commends the untiring efforts of Mr. President to reposition Nigeria and rekindle the confidence of the international community in Nigeria’s political system.
“Summit acknowledges and fully appreciates the resolutions of the recently held Northern Political Summit in Kaduna and urges all Nigerians to support President Goodluck Jonathan in the onerous task providence has bestowed on him to move Nigeria forward beyond 2011.”
“Summit commends the Northern Political Summit for their patriotism, clear vision, commitment to fair play and justice and undiluted appreciation of the rights and liberties of all Nigerians.
“Summit believes in the incontrovertible position of the Nigerian constitution that gives full rights to President Goodluck Jonathan above all other considerations to aspire to the position of the president at the 2011 elections, more so, the zone, in spite of its enormous contributions to the Gross Domestic Products (GDP), is yet to produce a president or head of state in the 50 years of Nigeria’s existence as a sovereign nation.
“Summit hereby unanimously calls on Dr Jonathan to openly declare his interest in the 2011 presidential election without further delay, while assuring him of total and undiluted support of the entire South-South, summit calls on all other geopolitical zones, organisations, communities and constituencies to support quest to deepen, widen and consolidate democracy by supporting Jonathan for president,” the communiqué read.
Meanwhile, as the Northern Governors’ Forum meet today in Kaduna, to decide on the zoning formula of the Peoples Democratic Party (PDP), indications have emerged that the governors are under intense pressure to reject the zoning formula.
Their position is crucial to the political future of President Jonathan, who has not declared whether he will run for the 2011 elections or not.
At their last meeting, the governors could not make a decision on the zoning issue, but they resolved that they should go back to their states to consult with the elders in their domain and reconvene today for a final push on the matter.
However, the Niger State government has said it will abide by the decision of the forum when they meet in Kaduna today.
He also said in Minna, on Monday, that zoning or no zoning, Governor Mu’azu Babangida Aliyu would contest the 2011 goverorship election.
Director, Media and Publicity to the Governor, Alhaji Ibrahim Abdulkhadir, said the people of Niger State had expressed their preference for zoning to be retained, adding that “our decision cannot be binding on the majority.
“We will follow the decision of the majority,” Abdu-khadir said.
He said the decision of Governor Aliyu to contest, “zoning or no zoning,” was informed by the fact that the people had told him to continue in office beyond 2011 and the governor himself was prepared to continue to serve the people.
At a mass rally in Kontagora, last year, Governor Aliyu was endorsed as the PDP candidate for the 2011 election.
The governor, last month, forwarded his letter of intent to the PDP secretariat.
The state PDP had already zoned the governorship of the state to Niger East senatorial district, the area of the incumbent governor.
Ahead of today’s meeting in Kaduna, the Plateau State coordinator of President Goodluck Jonathan Support Group, Mr Bulus Dareng, has said nothing would make the state and the entire North-Central change their position on zoning.
Speaking with the Nigerian Tribune in Jos, Dareng, who said Plateau State had since made its position known on zoning through its governor, Jonah Jang, added that various stakeholders in Plateau State had, at different fora, equally frowned on zoning.
He said the recent pronouncement of Ambassador Yahaya Kwande that Plateau State was in support of zoning was just a ploy to deceive the country, adding that the people of the state had spoken and declared their support for President Jonathan to contest in 2011.
“There is nothing like monolithic North any more. What some people call the North is just 19 independent states capable of taking decision individually. We are talking of democracy, the myth of the North is no longer there and nobody has a blank cheque for the North,” he said.
According to him, the group canvassing for zoning in the North was speaking for itself, not for the North as a whole. If you check their backgrounds, its members were those who wanted the status quo to be maintained for their selfish interest.
“Those who want the status quo maintained are the ones behind zoning, they want to keep recycling themselves to the detriment of the common man and we have matured enough as a nation to abandon zoning.
“Anybody who is still talking about zoning in these modern times does not wish the country well,” he said.
Dareng advised former heads of state, General Ibrahim Babangida and General Muhammadu Buhari, to stay away from politics and play an advisory role, adding that it was morally wrong for them to be scheming to become president again.
Meanwhile, the Good-luck Nigeria Group (GNG), has written to the Northern Governors’ Forum, explaining why its members should support the call to do away with the zoning policy of the PDP and pave the way for Jonathan to run in the 2011 presidential election.
Addressing a press conference in Abuja, on Monday, its national coordinator, Mr Cyril Ezeani, said the group was uncomfortable with the apparent opposition of sections of the North to the possible participation in the election by President Jonathan.
He said the North should realise that it was no longer monolithic and wondered why those who claimed to be speaking for the region on the issue believed they had the mandate of the entire region.
The group argued that the presence of President Jonathan today in the seat of power was by providence, which, it said, had “given us once in-a-million-years opportunity to get things right in this country.”
It added that “the current shadow boxing over the zoning of political offices by persons and groups who try to present themselves as speaking for the North is ill-advised, retrogressive and designed to embarrass the majority of our northern brothers and sisters who see no merit in the incoherent clamour of a vocal few.
“The primary concern of all well-meaning Nigerians today is to be part of a new Nigeria that places higher national interest above temporary political contrivances which only emphasise the things that divide us, undermine trust and a feeling of oneness,” he said.
The GNG further observed that the zoning in PDP, which some people in the North were clamouring for, had been virtually non-existent, as it had been violated since 1999.
“We should also ask which North is insisting on zoning. There are three geopolitical zones in the so-called North and Nigerians would like to know whether it is the North-East, North-West or North-Central that is said to be talking.
“Nigerians will also be interested to find out if there has been a conference of the North at which a vote was taken and some people were thereafter mandated to make their position known to other Nigerians.
“Our group will not raise any issues if the North that is insisting on ‘zoning’ is a purely imaginary entity, existing as a figment of some people’s imagination.
“It is not within our purview to question the contents of anyone’s imaginative faculty.
“We shall only observe that there are northern members of other political parties besides the PDP and the growing pretence that there is some monolithic North which has taken a position on key national issues is a delusion for which some people need a quick and lasting cure.
“We are here to assure the world that there is no such entity and no such consensus,” the group declared.
Nigeria’s system may collapse -Jonathan
Written by Dipo Laleye, Minna Tuesday, 27 July 2010
PRESIDENT Goodluck Jonathan on Monday warned that “unless Nigeria retraces its steps and takes the right steps very soon, the system will collapse.”
President Jonathan was particularly concerned about the high level of corruption, illegal acquisition of wealth and non-payment of taxes by Nigerians; issues he argued could lead to the collapse of the system.
In a message to the 4th National Diaspora Conference, which opened in Minna, Niger State, he said that Nigeria could not continue to deceive itself when the country was not producing but depending on imports for its day to day needs.
“We must pay our taxes and stop relying on petrol money,” President Jonathan said in the address read by the Secretary to the Government of the Federation, Alhaji Yayale Ahmed.
“Change is a must, the time is up” he added, stressing that, “Nigeria is genuine; Nigeria is not fake; those who are not genuine, those who are fake will definitely be shown the way out.”
President Jonathan challenged Nigerians to cultivate the habit of “doing things correctly” so that foreigners could be attracted to the country, adding that without the necessary environment, “the brightest brain will be an idol of sympathy.”
In his response to the criticism that had greeted the plan by the government to celebrate the nation’s 50th Independence, President Jonathan said the country had every cause to celebrate because “we have survived despite our diversities and we should celebrate our survival.”
He urged Nigerians in the diaspora to join the government in revamping the nation, saying that what they were able to do in a foreign land should be done at home for the overall growth of the national economy and the country in general.
Niger State governor, Dr Mu’azu Babangida Aliyu, in an address, observed that over $10 billion was remitted to Nigeria annually by Nigerians in the diaspora, saying with the situation, it was possible to float diaspora bonds “as financial tool to bridge the financing gaps in the country.”
Aliyu told the banking sector in the country to take advantage of the ongoing banking and financial sector reforms by the Central Bank of Nigeria to sanitise its operations so as to earn the confidence of Nigerians in the diaspora.
Chairman of the House of Representatives Committee on the Diaspora, Honourable Abike Dabiri-Erewa, in a goodwill message delivered at the event, said a bill providing for the establishment of a National Diaspora Commission had been passed by the House.
She added that the bill had now been sent to the Senate for similar action before it would be sent to the president for his assent.
Dabiri-Erewa stated that the proposed commission, when established, would not be bogged down by bureaucratic bottlenecks of the ministry as it would, to a large extent, be made autonomous.
A communiqué is expected at the end of the conference on Wednesday.
PRESIDENT Goodluck Jonathan on Monday warned that “unless Nigeria retraces its steps and takes the right steps very soon, the system will collapse.”
President Jonathan was particularly concerned about the high level of corruption, illegal acquisition of wealth and non-payment of taxes by Nigerians; issues he argued could lead to the collapse of the system.
In a message to the 4th National Diaspora Conference, which opened in Minna, Niger State, he said that Nigeria could not continue to deceive itself when the country was not producing but depending on imports for its day to day needs.
“We must pay our taxes and stop relying on petrol money,” President Jonathan said in the address read by the Secretary to the Government of the Federation, Alhaji Yayale Ahmed.
“Change is a must, the time is up” he added, stressing that, “Nigeria is genuine; Nigeria is not fake; those who are not genuine, those who are fake will definitely be shown the way out.”
President Jonathan challenged Nigerians to cultivate the habit of “doing things correctly” so that foreigners could be attracted to the country, adding that without the necessary environment, “the brightest brain will be an idol of sympathy.”
In his response to the criticism that had greeted the plan by the government to celebrate the nation’s 50th Independence, President Jonathan said the country had every cause to celebrate because “we have survived despite our diversities and we should celebrate our survival.”
He urged Nigerians in the diaspora to join the government in revamping the nation, saying that what they were able to do in a foreign land should be done at home for the overall growth of the national economy and the country in general.
Niger State governor, Dr Mu’azu Babangida Aliyu, in an address, observed that over $10 billion was remitted to Nigeria annually by Nigerians in the diaspora, saying with the situation, it was possible to float diaspora bonds “as financial tool to bridge the financing gaps in the country.”
Aliyu told the banking sector in the country to take advantage of the ongoing banking and financial sector reforms by the Central Bank of Nigeria to sanitise its operations so as to earn the confidence of Nigerians in the diaspora.
Chairman of the House of Representatives Committee on the Diaspora, Honourable Abike Dabiri-Erewa, in a goodwill message delivered at the event, said a bill providing for the establishment of a National Diaspora Commission had been passed by the House.
She added that the bill had now been sent to the Senate for similar action before it would be sent to the president for his assent.
Dabiri-Erewa stated that the proposed commission, when established, would not be bogged down by bureaucratic bottlenecks of the ministry as it would, to a large extent, be made autonomous.
A communiqué is expected at the end of the conference on Wednesday.
Tuesday, July 6, 2010
Reps set to recall Melaye, other suspended lawmakers •As Speaker apologises to students
Written by Idowu Samuel, Abuja
MEMBERS of the House of Representatives, who are sympathetic to 11 of their colleagues, suspended for the rest of the legislative year, have commenced moves to recall them through a House pardon, the Nigerian Tribune has gathered.
Female members of the House, who initiated the move, have been lobbying their male counterparts to put pressure on the House leadership on the need to pardon Honourable Dino Melaye and other members of his group, who are currently serving a suspension imposed on them by the House.
The lawmakers are intervening because of the harsh political realities, staring the suspended lawmakers in the face, especially the possibility that they may not be able to seek re-election in the 2011 general poll.
Honourable Fatimat Raji Rasaki, who is the Vice Chairman, House Committee on Women Affairs, led the group of members of the House, pleading for the return of the suspended lawmakers, especially one of the female legislators, Honourable Doris Uboh, whom she said was manhandled by the sergeant-at-arms during the fracas that broke out on the floor of the House about two weeks ago.
Speaker of the House of Representatives, Honourable Dimeji Bankole, had, on Monday, alluded to this, when he raised the hope on the possible recall of the lawmakers.
Bankole had visited the City Royal Secondary School, Nyanya, Abuja, to apologise to students of the school, who witnessed the fracas in the House of Representatives, during their excursion and told correspondents that the issue of the suspended lawmakers was being reconsidered.
Moral Prefect of the school, David Sunday, had, in his opening remark during the Speaker’s visit, urged the House leadership to imbibe the spirit of humility as demonstrated by the speaker, who came to beg the students for forgiveness, urging members of the House to allow peace to reign and forgive the lawmakers who were suspended.
He said he believed that the visit of the speaker to the school would not be in vain, but would result in a peaceful atmosphere in the House by forgiving all the lawmakers who were suspended.
Honourable Bankole, while responding said, “it is a wonderful idea and we would consider it. Well, we are adults and we have the responsibility of managing ourselves and I can assure you that we will come up with amicable resolution.”
He told the students that the lawmakers were suspended for the crisis in the House because of their alleged failure to adhere strictly to the rules of the House, noting that the fracas in the House would have been averted had the affected legislators conducted themselves in an orderly manner and in line with the rules of the House and the Constitution of the Federal Republic of Nigeria, which they swore to uphold.
He said: “I came to apologise to the students, who were in the House of Representatives on the particular day that we are talking about. I also want to use the opportunity to explain to you that there are laws in this country that are to be obeyed.
“All laws are to be obeyed and I believe that in your school here, you also have your own laws, whereby if you have complaints you can go and report to your teachers. You should never take the rules or the laws into your own hands, because when you do that it leads to chaos.
“On that particular day, I believe a few of our colleagues flouted the rules of the House, and actions were taken based on the rules of the House.”
He advised the students to always obey the rules of the school since, according to him, their failure to do so might predispose them to breaking the laws of the nation, when they got out of schools, and which might expose them to punishments.
He described a school as a learning ground, where corrections were made, stressing that there was no excuse that any of the suspended lawmakers could put up for their disorderly conduct before being suspended, having sworn to obey the constitution and the rules of the House.
MEMBERS of the House of Representatives, who are sympathetic to 11 of their colleagues, suspended for the rest of the legislative year, have commenced moves to recall them through a House pardon, the Nigerian Tribune has gathered.
Female members of the House, who initiated the move, have been lobbying their male counterparts to put pressure on the House leadership on the need to pardon Honourable Dino Melaye and other members of his group, who are currently serving a suspension imposed on them by the House.
The lawmakers are intervening because of the harsh political realities, staring the suspended lawmakers in the face, especially the possibility that they may not be able to seek re-election in the 2011 general poll.
Honourable Fatimat Raji Rasaki, who is the Vice Chairman, House Committee on Women Affairs, led the group of members of the House, pleading for the return of the suspended lawmakers, especially one of the female legislators, Honourable Doris Uboh, whom she said was manhandled by the sergeant-at-arms during the fracas that broke out on the floor of the House about two weeks ago.
Speaker of the House of Representatives, Honourable Dimeji Bankole, had, on Monday, alluded to this, when he raised the hope on the possible recall of the lawmakers.
Bankole had visited the City Royal Secondary School, Nyanya, Abuja, to apologise to students of the school, who witnessed the fracas in the House of Representatives, during their excursion and told correspondents that the issue of the suspended lawmakers was being reconsidered.
Moral Prefect of the school, David Sunday, had, in his opening remark during the Speaker’s visit, urged the House leadership to imbibe the spirit of humility as demonstrated by the speaker, who came to beg the students for forgiveness, urging members of the House to allow peace to reign and forgive the lawmakers who were suspended.
He said he believed that the visit of the speaker to the school would not be in vain, but would result in a peaceful atmosphere in the House by forgiving all the lawmakers who were suspended.
Honourable Bankole, while responding said, “it is a wonderful idea and we would consider it. Well, we are adults and we have the responsibility of managing ourselves and I can assure you that we will come up with amicable resolution.”
He told the students that the lawmakers were suspended for the crisis in the House because of their alleged failure to adhere strictly to the rules of the House, noting that the fracas in the House would have been averted had the affected legislators conducted themselves in an orderly manner and in line with the rules of the House and the Constitution of the Federal Republic of Nigeria, which they swore to uphold.
He said: “I came to apologise to the students, who were in the House of Representatives on the particular day that we are talking about. I also want to use the opportunity to explain to you that there are laws in this country that are to be obeyed.
“All laws are to be obeyed and I believe that in your school here, you also have your own laws, whereby if you have complaints you can go and report to your teachers. You should never take the rules or the laws into your own hands, because when you do that it leads to chaos.
“On that particular day, I believe a few of our colleagues flouted the rules of the House, and actions were taken based on the rules of the House.”
He advised the students to always obey the rules of the school since, according to him, their failure to do so might predispose them to breaking the laws of the nation, when they got out of schools, and which might expose them to punishments.
He described a school as a learning ground, where corrections were made, stressing that there was no excuse that any of the suspended lawmakers could put up for their disorderly conduct before being suspended, having sworn to obey the constitution and the rules of the House.
Salary increase may cause inflation -MPC •As external reserves decline by $25bn •Declining reserves not a problem -CBN
Written by Samuel Ibiyemi and Gbola Subair, Abuja
THE Monetary Policy Committee has said that the proposed salary increase for the civil servants had the tendency of increasing inflationary pressure on the economy, just as the apex bank said the declining external reserves posed no threat to the Nigerian economy.
Governor of CBN, Mallam Lamido Sanusi, addressing a press conference after the 71st Monetary Policy Committee meeting in Abuja, on Monday, stated that the down trend in the domestic price level could be attributed to a number of factors, including the continuing underperformance of the monetary aggregates with the associated constraints demand, adequate food supply, stable exchange rates and improvement in the availability of petroleum resources, amongst others.
Notwithstanding this, the MPC reiterated its earlier position on the threat of inflationary pressure arising from several factors, including the effect of salary increase in the civil service and the rising food prices against the backdrop of famine in neighbouring Niger Republic.
However, the apex bank has reiterated the readiness of the Monetary Policy Committee (MPC) to continue to monitor price developments, with a view to taking appropriate measures to stem any inflationary threat and ensure that the downside risk of inflation growth was minimised.
The CBN governor said the external reserves were $34 billion in 2008, but went down to $9 billion in 2009, thus showing a decline of $25 billion.
With $9 billion external reserves, the CBN governor said this could finance imports for 16 months, adding that there was no cause for alarm on the development.
According to him, Nigeria should count itself lucky for the external reserves, citing the example of the United States, whose external reserves could only finance imports for three months.
Explaining the reason for the declining reserves, Mallam Sanusi said Nigeria’s external reserves swelled up when oil price was about $140 per barrel and a daily production of about 2 million barrels per day, adding that with oil price as low as $40 per barrel, nothing short of declining external reserves should be expected.
Reviewing the domestic economic conditions in the first quarter of 2010, the CBN boss said the year-on- year headline inflation declined to 11.0 per cent in May 2010 from 12.5 per cent in April and 11.8 per cent in March.
Similarly, the CBN governor said core inflation fell to 8.8 per cent in May 2010, from 9.8 per cent in April and 9.5 per cent in March.
He said the capital market was still showing some signs of recovery as the all-share index increased from 20,827.17 in December 2009 to 25,554.35 as of June 23, 2010.
In the same vein, he said market capitalisation equities increased by 24.9 per cent from N4.98 trillion to N6.28 trillion over the same period.
The number of deals, volume and value of shares traded, according to him, also increased by 16.34, 19.23 and 100 per cent respectively.
On the global scenes, the committee noted that market anxiety over the fiscal position of several European area countries was posing new challenges for the world economy, even as global economic recovery remained fragile
To address the weak fiscal position, Mallam Sanusi said governments in these countries had started unwinding the fiscal stimuli by cutting spending.
However, he said such cut in government’s spending might have serious implications for growth and employment and might lead to a double dip recession, with possible effects on the global economy.
The Federal Government recorded $25 billion shortfall in foreign exchange earnings from oil and non-sector in 2009, as inflation dropped to 11 per cent at the end of May 2010.
This is also as the Central Bank of Nigeria (CBN) announced plans to retain Monetary Policy Rate (MPR) at six per cent and projected 7.74 per cent as overall gross domestic product (GDP) for 2010.
Sanusi, at the end of MPC meeting in Abuja, on Monday, said the drop in external reserves to $37.63 billion on June 23 was as a result of the shortfall of $25 billion in the nation’s foreign exchange earnings in 2009.
He blamed the steady fall in foreign exchange earnings on low oil prices and crisis in the Niger Delta.
However, Sanusi said the MPR would remain unchanged at six per cent as a result of the stability in exchange rate and continuing under-performance of monetary aggregates since the beginning of the year.
According to him, developments in interest rates structure indicated that the retail lending rates were still relatively high, though they were declining.
Similarly, he noted that the weighted average savings rate dropped marginally to 2.92 per cent in May 2010 from 3.36 per cent in December 2009, while the consolidated deposit rates declined to 3.30 per cent in May 2010 from 6.13 per cent in December 2009.
He added that the spread between the average maximum lending rate and the consolidated deposit rate widened to 19.27 per cent in May 2010 from 17.34 per cent in December, 2009
THE Monetary Policy Committee has said that the proposed salary increase for the civil servants had the tendency of increasing inflationary pressure on the economy, just as the apex bank said the declining external reserves posed no threat to the Nigerian economy.
Governor of CBN, Mallam Lamido Sanusi, addressing a press conference after the 71st Monetary Policy Committee meeting in Abuja, on Monday, stated that the down trend in the domestic price level could be attributed to a number of factors, including the continuing underperformance of the monetary aggregates with the associated constraints demand, adequate food supply, stable exchange rates and improvement in the availability of petroleum resources, amongst others.
Notwithstanding this, the MPC reiterated its earlier position on the threat of inflationary pressure arising from several factors, including the effect of salary increase in the civil service and the rising food prices against the backdrop of famine in neighbouring Niger Republic.
However, the apex bank has reiterated the readiness of the Monetary Policy Committee (MPC) to continue to monitor price developments, with a view to taking appropriate measures to stem any inflationary threat and ensure that the downside risk of inflation growth was minimised.
The CBN governor said the external reserves were $34 billion in 2008, but went down to $9 billion in 2009, thus showing a decline of $25 billion.
With $9 billion external reserves, the CBN governor said this could finance imports for 16 months, adding that there was no cause for alarm on the development.
According to him, Nigeria should count itself lucky for the external reserves, citing the example of the United States, whose external reserves could only finance imports for three months.
Explaining the reason for the declining reserves, Mallam Sanusi said Nigeria’s external reserves swelled up when oil price was about $140 per barrel and a daily production of about 2 million barrels per day, adding that with oil price as low as $40 per barrel, nothing short of declining external reserves should be expected.
Reviewing the domestic economic conditions in the first quarter of 2010, the CBN boss said the year-on- year headline inflation declined to 11.0 per cent in May 2010 from 12.5 per cent in April and 11.8 per cent in March.
Similarly, the CBN governor said core inflation fell to 8.8 per cent in May 2010, from 9.8 per cent in April and 9.5 per cent in March.
He said the capital market was still showing some signs of recovery as the all-share index increased from 20,827.17 in December 2009 to 25,554.35 as of June 23, 2010.
In the same vein, he said market capitalisation equities increased by 24.9 per cent from N4.98 trillion to N6.28 trillion over the same period.
The number of deals, volume and value of shares traded, according to him, also increased by 16.34, 19.23 and 100 per cent respectively.
On the global scenes, the committee noted that market anxiety over the fiscal position of several European area countries was posing new challenges for the world economy, even as global economic recovery remained fragile
To address the weak fiscal position, Mallam Sanusi said governments in these countries had started unwinding the fiscal stimuli by cutting spending.
However, he said such cut in government’s spending might have serious implications for growth and employment and might lead to a double dip recession, with possible effects on the global economy.
The Federal Government recorded $25 billion shortfall in foreign exchange earnings from oil and non-sector in 2009, as inflation dropped to 11 per cent at the end of May 2010.
This is also as the Central Bank of Nigeria (CBN) announced plans to retain Monetary Policy Rate (MPR) at six per cent and projected 7.74 per cent as overall gross domestic product (GDP) for 2010.
Sanusi, at the end of MPC meeting in Abuja, on Monday, said the drop in external reserves to $37.63 billion on June 23 was as a result of the shortfall of $25 billion in the nation’s foreign exchange earnings in 2009.
He blamed the steady fall in foreign exchange earnings on low oil prices and crisis in the Niger Delta.
However, Sanusi said the MPR would remain unchanged at six per cent as a result of the stability in exchange rate and continuing under-performance of monetary aggregates since the beginning of the year.
According to him, developments in interest rates structure indicated that the retail lending rates were still relatively high, though they were declining.
Similarly, he noted that the weighted average savings rate dropped marginally to 2.92 per cent in May 2010 from 3.36 per cent in December 2009, while the consolidated deposit rates declined to 3.30 per cent in May 2010 from 6.13 per cent in December 2009.
He added that the spread between the average maximum lending rate and the consolidated deposit rate widened to 19.27 per cent in May 2010 from 17.34 per cent in December, 2009
Forgive us, Bankole pleads with students over brawl
By Ini Ekott and Festus Owete
The Speaker of the House of Representatives, Dimeji Bankole, yesterday apologised to students of City Royal School, Nyanya, who witnessed clashes at the chamber a fortnight ago.
Mr. Bankole, who visited the school at the outskirts of Abuja, told hundreds of students and staff of the institution who gathered at the school’s auditorium on Monday morning that, “I want to use this time to apologise to you over what happened. It should not have happened,” he said.
Witnesses to a Sordid Drama
Seventy of the students witnessed the lawmakers’ scuffle on June 22, after arriving for the routine student visits to the National Assembly.
They watched from the over-arching gallery as the Speaker’s order for the suspension of 11 members who accused him of corruption, which rapidly leapt the session into chaos, during which members fought openly and were stripped and ejected.
The suspended lawmakers said Mr. Bankole and his officials have misappropriated N9 billion of the House’s 2009 capital budget, and asked for his removal.
Back in their school that Tuesday morning, the students were told such violent disputes occur elsewhere, the Girls Prefect, Roseline Odoh, recalled. They were, however, tutored that the key lays with the reason for the rift, and not the rift itself.
“It was very painful to us,” said Ms. Odoh. “We later got to know that it happens in other parliaments, but that it depends on why they fight.”
Mr. Bankole said the crisis was caused by a breach of legislative process.
“Let me explain to you why it happened”, he began. “It happened because some of us decided not to obey our set down rules. In every society, and in every organisation, there are rules that guide people, just as there are rules in this school. On this particular day, I believe a few of our colleagues flouted the rules of the House.
Why law and order broke down
“If you take the law into your hands, then you face the consequences,” Mr. Bankole stressed.
“And this is the best time to start learning to respect rules, before going out to join the larger society; otherwise, you may end up just like you saw that day.”
The students urged the Speaker to lead the return of peace to the deeply troubled chamber, and called for the reinstatement of the 11 affected members.
“We want to ask from you that this great mind in you, let it be in all the members of the House. We pray that peace will dwell in the House and most importantly, all those who have erred will equally be forgiven,” the school’s Moral Prefect, David Sunday, requested.
Mr. Bankole said the idea was “wonderful” and will be considered.
“It is the request, a wonderful idea, and we would consider it. We are adults and we have responsibilities of managing ourselves as leaders, and I can assure you that we would come to amicable resolution,” he promised.
The Speaker of the House of Representatives, Dimeji Bankole, yesterday apologised to students of City Royal School, Nyanya, who witnessed clashes at the chamber a fortnight ago.
Mr. Bankole, who visited the school at the outskirts of Abuja, told hundreds of students and staff of the institution who gathered at the school’s auditorium on Monday morning that, “I want to use this time to apologise to you over what happened. It should not have happened,” he said.
Witnesses to a Sordid Drama
Seventy of the students witnessed the lawmakers’ scuffle on June 22, after arriving for the routine student visits to the National Assembly.
They watched from the over-arching gallery as the Speaker’s order for the suspension of 11 members who accused him of corruption, which rapidly leapt the session into chaos, during which members fought openly and were stripped and ejected.
The suspended lawmakers said Mr. Bankole and his officials have misappropriated N9 billion of the House’s 2009 capital budget, and asked for his removal.
Back in their school that Tuesday morning, the students were told such violent disputes occur elsewhere, the Girls Prefect, Roseline Odoh, recalled. They were, however, tutored that the key lays with the reason for the rift, and not the rift itself.
“It was very painful to us,” said Ms. Odoh. “We later got to know that it happens in other parliaments, but that it depends on why they fight.”
Mr. Bankole said the crisis was caused by a breach of legislative process.
“Let me explain to you why it happened”, he began. “It happened because some of us decided not to obey our set down rules. In every society, and in every organisation, there are rules that guide people, just as there are rules in this school. On this particular day, I believe a few of our colleagues flouted the rules of the House.
Why law and order broke down
“If you take the law into your hands, then you face the consequences,” Mr. Bankole stressed.
“And this is the best time to start learning to respect rules, before going out to join the larger society; otherwise, you may end up just like you saw that day.”
The students urged the Speaker to lead the return of peace to the deeply troubled chamber, and called for the reinstatement of the 11 affected members.
“We want to ask from you that this great mind in you, let it be in all the members of the House. We pray that peace will dwell in the House and most importantly, all those who have erred will equally be forgiven,” the school’s Moral Prefect, David Sunday, requested.
Mr. Bankole said the idea was “wonderful” and will be considered.
“It is the request, a wonderful idea, and we would consider it. We are adults and we have responsibilities of managing ourselves as leaders, and I can assure you that we would come to amicable resolution,” he promised.
2011: Jonathan, IBB take battle to London
THE battle for the soul of Nigeria’s Presidency come 2011 has become more intense as both President Goodluck Jonathan and former Military President, Ibrahim Babangida drafted their field workers to London to continue their subtle campaigns towards the next general election.
Under the guise of Nigeria’s 50th independence anniversary celebration, President Jonathan’s foot soldiers stormed the Queen’s City of London last week for a two-day jamboree, which discerning minds understood to be in furtherance of his campaign for the next general election as a way of marketing their principal to the international community.
However, Babangida would not be deceived either as he also promptly drafted his ‘boys’ to London almost at the same time.
The National Chairman of the Peoples Democratic Party (PDP), Dr Okwesilieze Nwodo, had led 18 PDP governors and other bigwigs of the party to London to showcase Nigeria’s achievements of 50 years of self government, where he featured on some television and radio programmes and spoke on the many gains of Jonathan presidency for Nigeria.
The programme was held at the Groovesnor Hotel, Park Lane, London.
Dr Nwodo also explained the irrelevance of zoning in the polity, arguing that the country could not afford to sacrifice merit on the altar of zoning.
The London trip, according to sources, was more of international political campaign than the anniversary celebration which the ordinary man was made to believe it was meant for.
On Babangida’s side, sources close to his Minna Hill Top Mansion told Sunday Tribune on condition of anonymity that the ex-military ruler could not buy such a simple dummy, hence he directed his men to proceed on a trip to London and counter whatever negative campaign the pro-Jonathan group might be selling to the outside world about his ambition.
It was also learnt that the barrage of criticisms trailing the N10 billion set aside for the anniversary celebration was being orchestrated by anti-Jonathan elements, who felt that the allocation was nothing but a campaign fund for President Jonathan.
The source, who attempted to debunk any impression that IBB ‘boys’ were in London on a counter mission, said there was nothing to counter as each group was there to market its ‘product’.
Since the emergence of President Jonathan and the possibility of his contesting the 2011 presidency, opinion had been divided along North/South divide, with many northern groups rooting for the retention of the zoning arrangement to allow one of their own to emerge in 2011 as president.
Within a spate of one week, two groups had staged rallies in Bauchi in support of Jonathan and the other to counter his ambition.
While the North East Progressive Forum would want the PDP zoning arrangement to remain, another group by the name, Goodluck Jonathan Movement (GJM), held its own rally to canvass support for President Jonathan.By Wale Adele
Under the guise of Nigeria’s 50th independence anniversary celebration, President Jonathan’s foot soldiers stormed the Queen’s City of London last week for a two-day jamboree, which discerning minds understood to be in furtherance of his campaign for the next general election as a way of marketing their principal to the international community.
However, Babangida would not be deceived either as he also promptly drafted his ‘boys’ to London almost at the same time.
The National Chairman of the Peoples Democratic Party (PDP), Dr Okwesilieze Nwodo, had led 18 PDP governors and other bigwigs of the party to London to showcase Nigeria’s achievements of 50 years of self government, where he featured on some television and radio programmes and spoke on the many gains of Jonathan presidency for Nigeria.
The programme was held at the Groovesnor Hotel, Park Lane, London.
Dr Nwodo also explained the irrelevance of zoning in the polity, arguing that the country could not afford to sacrifice merit on the altar of zoning.
The London trip, according to sources, was more of international political campaign than the anniversary celebration which the ordinary man was made to believe it was meant for.
On Babangida’s side, sources close to his Minna Hill Top Mansion told Sunday Tribune on condition of anonymity that the ex-military ruler could not buy such a simple dummy, hence he directed his men to proceed on a trip to London and counter whatever negative campaign the pro-Jonathan group might be selling to the outside world about his ambition.
It was also learnt that the barrage of criticisms trailing the N10 billion set aside for the anniversary celebration was being orchestrated by anti-Jonathan elements, who felt that the allocation was nothing but a campaign fund for President Jonathan.
The source, who attempted to debunk any impression that IBB ‘boys’ were in London on a counter mission, said there was nothing to counter as each group was there to market its ‘product’.
Since the emergence of President Jonathan and the possibility of his contesting the 2011 presidency, opinion had been divided along North/South divide, with many northern groups rooting for the retention of the zoning arrangement to allow one of their own to emerge in 2011 as president.
Within a spate of one week, two groups had staged rallies in Bauchi in support of Jonathan and the other to counter his ambition.
While the North East Progressive Forum would want the PDP zoning arrangement to remain, another group by the name, Goodluck Jonathan Movement (GJM), held its own rally to canvass support for President Jonathan.By Wale Adele
Action Congress gets new name
By Dimeji Kayode-Adedeji
The Action Congress (AC) yesterday resolved to change its name to Action Congress of Nigeria (ACN), following a successful merger talk with the All Nigeria Peoples Party (ANPP) and some members of the Peoples Democratic Party (PDP) and Democratic Peoples Party (DPP). Lai Mohammed, the National Publicity Secretary of the party, said this yesterday in Abeokuta, the Ogun State capital, during a meeting of the party national working committee held with members of the Ogun State Chapter, adding that the colour of the new party will be green-white-blue.
“The merger parties have resolved to use the platform of (the) Action Congress, and to make it a national party that will cut across. We have, therefore, resolved to change the name now to Action Congress of Nigeria (ACN),’ Mr Mohammed said.
He added that the broom logo of the AC will still remain its identification, while the Action Congress has been mandated to write officially to the Independent National Electoral Commission (INEC) with the parties’ resolution on the merger attached.
A technical committee has also been put in place with an enlarged meeting scheduled for July 13. “It is good for us; our membership now cuts across,” Mr Mohammed said.
The Action Congress (AC) yesterday resolved to change its name to Action Congress of Nigeria (ACN), following a successful merger talk with the All Nigeria Peoples Party (ANPP) and some members of the Peoples Democratic Party (PDP) and Democratic Peoples Party (DPP). Lai Mohammed, the National Publicity Secretary of the party, said this yesterday in Abeokuta, the Ogun State capital, during a meeting of the party national working committee held with members of the Ogun State Chapter, adding that the colour of the new party will be green-white-blue.
“The merger parties have resolved to use the platform of (the) Action Congress, and to make it a national party that will cut across. We have, therefore, resolved to change the name now to Action Congress of Nigeria (ACN),’ Mr Mohammed said.
He added that the broom logo of the AC will still remain its identification, while the Action Congress has been mandated to write officially to the Independent National Electoral Commission (INEC) with the parties’ resolution on the merger attached.
A technical committee has also been put in place with an enlarged meeting scheduled for July 13. “It is good for us; our membership now cuts across,” Mr Mohammed said.
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