Archive for nigeriang

Skepticism in Pakistan over Bin Laden’s alleged role

Skepticism in Pakistan over Bin Laden’s alleged role

Pakistani security
officials reacted with skepticism on Sunday to a U.S. assertion that
Osama bin Laden was actively engaged in directing his far-flung network
from his compound in Abbottabad where he was killed on May 2.

Washington said on
Saturday that, based on a trove of documents and computer equipment
seized in the raid, bin Laden’s hideout north of Islamabad was an
“active command and control center” for al Qaeda where he was involved
in plotting future attacks on the United States.

“It sounds ridiculous,” said a senior intelligence official. “It doesn’t sound like he was running a terror network.”

Pakistan, heavily
dependent on billions of dollars in U.S. aid, is under intense pressure
to explain how the al Qaeda leader could have spent so many years
undetected just a few hours’ drive from its intelligence headquarters
in the capital.

Suspicion has
deepened that Pakistan’s pervasive Inter-Services Intelligence (ISI)
spy agency, which has a long history of contacts with militant groups,
may have had ties with bin Laden — or that at least some of its agents
did. The agency has been described as a state within a state.

Pakistan has
dismissed such suggestions and says it has paid the highest price in
human life and money supporting the U.S. war on militancy launched
after bin Laden’s followers staged the September 11, 2001, attacks on
America.

The Obama administration

has seen no
evidence Pakistan’s government knew bin Laden was living in that
country before his killing, the U.S. national security adviser said on
Sunday.

Prime Minister
Yusuf Raza Gilani is scheduled to “take the nation into confidence” in
parliament on Monday, his first statement to the people more than a
week after the incident embarrassed the country.

Pakistani officials
said the fact that there was no internet connection or even phone line
into the compound where the world’s most-wanted man was

hiding raised doubts about his centrality to al Qaeda.

Analysts have long
maintained that, years before bin Laden’s death, al Qaeda had
fragmented into a decentralized group that operated tactically without
him.

“It’s bullshit,”
said a senior Pakistani security official, when quizzed on a U.S.
intelligence official’s assertion that bin Laden had been “active in
operational planning and in driving tactical decisions” of the Islamist
militant group from his secret home in the town of Abbottabad.

On Saturday, the
White House released five video clips of bin Laden taken from the
compound, most of them showing the al Qaeda leader, his beard dyed
black, evidently rehearsing the videotaped speeches he sometimes
distributed to his followers.

None of the videos was released with sound. A U.S. intelligence
official said it had been removed because the United States did not
want to transmit bin Laden’s propaganda. But he said they contained the
usual criticism of the United States as well as capitalism.

Click to Read More Latest News from Nigeria

Gaddafi "shoot ‘n scoot" frustrates NATO in Misrata

Gaddafi "shoot ‘n scoot" frustrates NATO in Misrata

Forces loyal to
Libya’s Muammar Gaddafi are hiding tanks and artillery and using “shoot
and scoot” tactics in Misrata, frustrating NATO air efforts to break a
weeks-long siege of the rebel-held Libyan city.

Despite repeated
bombing raids by the Western alliance, Gaddafi loyalists continue to
lay siege to the city and its vital port — making it one of the
bloodiest battlefields of Libya’s two-month-old conflict.

Rebels say
pro-Gaddafi forces are concealing tanks in buildings and artillery
beneath trees, firing from civilian-populated areas and near mosques.
“NATO can’t strike those places,” said Safieddin, a rebel spokesman in
the city.

Government forces
have abandoned the city centre to the rebels, but are entrenched in the
built-up outskirts, sometimes firing from the open and scuttling for
cover between buildings.

“There are houses
there. It’s not as densely populated as downtown Misrata but still it’s
the city,” said NATO’s senior military officer, Admiral Giampaolo di
Paula.

“So therefore they
are still continuing to use the tactics of shoot and scoot and that’s
why we need to continue to systematically degrade their military
firepower,” he said.

Two graphic examples came earlier this week.

After after two
days of NATO bombing raids, pro-Gaddafi forces rained artillery on the
port as an aid ship docked to evacuate hundreds of African migrant
workers and wounded Libyan civilians. Five people were killed, rebels
said, and hundreds were left stranded on the dock.

On Saturday,
pro-Gaddafi artillery strikes destroyed four fuel storage tanks in
Misrata, insurgents said, leaving the city facing fuel shortages.

“NATO is working, but Gaddafi’s forces are also working,” said a second rebel spokesman in Misrata, named Abdelsalam.

“Piece by piece”

“NATO has been more successful at destroying troops and military vehicles on the move than static forces,” he said.

“Every tank or
rocket battery destroyed by NATO is immediately replaced. Add to this
that they have been hiding tanks in the sand and inside buildings and
that they fire artillery rounds from under trees.” Rebels and residents
say the government forces’ snipers and mercenaries, many of them
sub-Saharan African migrants forced to fight, are holed up in
buildings, firing freely.

Libyan officials
deny that government forces are attacking civilians in Misrata, and say
they are fighting armed gangs linked al Qaeda. Media access is limited,
making it difficult to verify reports from battle zones.

Human rights groups
say hundreds of people, including many civilians, have been killed in
the fighting in Misrata, about 200 km (130 miles) east of the Libyan
capital, Tripoli.

Much of the city centre is in ruins.

Critics say NATO’s
inability so far to silence the guns demonstrates the limits of waging
war from the skies — amply demonstrated in the 1999 NATO bombing
campaign in then-Yugoslavia to force the withdrawal of Serb forces from
Kosovo. It took 78 days, and the credible threat of ground forces,
before Slobodan Milosevic’s forces retreated.

Click to Read More Latest News from Nigeria

Ogun election tribunal starts work today

Ogun election tribunal starts work today

Members of the
Election Petition Tribunal for Ogun State are expected to arrive
Abeokuta, the Ogun State capital, today to look into some petitions
which have been submitted by aggrieved losers and their parties at the
just concluded general elections in the state.

NEXT gathered at
the weekend that about six petitions have been received by the
tribunal, which is expected to use the magistrate court complex located
in the Isabo area of the town as its operational base.

Incumbent senator
for Ogun Central, Iyabo Obasanjo-Bello who contested under the platform
of the Peoples Democratic Party (PDP) but lost to the candidate of the
Action Congress of Nigeria (ACN), Gbenga Obadara, was among the
petitioners who were seeking redress at the tribunal. Also, the Peoples
Democratic Party (PDP) filed a suit against the Independent National
Electoral Commission (INEC) and candidates of both the Peoples Party of
Nigeria (PPN) and the Action Congress of Nigeria (ACN) before the
tribunal over the April 9, 2011 national assembly election.

Although the
current speaker of the house of representatives, Dimeji Bankole, said
he had accepted his loss at the last election in good faith, his party
still went ahead to file a petition on his behalf to challenge the
victory of his opponent, Segun Williams of the Action Congress of
Nigeria (ACN), who won the seat to represent Abeokuta South federal
constituency at the house of representatives.

The PDP filed a
total of five petitions, while the ACN and its candidate in Yewa
North/Imeko-Afon federal constituency, Adeniyi Akanbi filed only one
petition to challenge INEC and the candidate of Peoples Party of
Nigeria (PPN} Rasaq Adewusi, who was declared winner of the election in
that constituency.

The PDP candidates
who joined the suit with their party at the tribunal include Mohammed
Odunowo, who contested for the Ogun East senatorial seat and lost to
the ACN’s Gbenga Kaka; Babatrunde Fadun who contested for the Ogun West
senatorial seat but lost to the ACN’s candidate Babalola Odunsi and Mr
Ajibade, who lost the house of representatives election to Mr Adewusi.

The PDP filed its
petitions on April 29 while the ACN filed its petition on April 30,
2011. The concerned parties to the various suits were said to have been
served.

Information pasted
at the premises of the tribunal showed that all the petitioners had to
pay N400,000 as security cost before filing their petitions.

However, efforts to speak with the secretary of the tribunal, Mr Eze, did not yield positive results as he declined comment.

“I was not authorized to talk to the press,” he said.

Click to Read More Latest News from Nigeria

Election tribunal to commence sitting in Kwara

Election tribunal to commence sitting in Kwara

The National
Assembly election petitions tribunal in Kwara State has received three
petitions from candidates challenging the result of the April 9
elections results in the state, secretary of the tribunal, Uju
Mesiobi-Emeto has said.

Although many
political parties earlier threatened to challenge election results,
only three were able to meet up with the May 1 deadline for filing of
the petitions.

Mrs Mesiobi-Emeto
however said at the weekend in Ilorin, that the tribunal was ready to
ensure free hearing for all political parties involved in the cases.

The first petition
was filed by the Kwara Central senatorial district candidate of the
Action Congress of Nigeria (ACN), Oloriegbe Ibrahim Yahaya and others
against the winner, Abubakar Bukola Saraki of the Peoples Democratic
Party (PDP) and the Independent National Electoral Commission (INEC).

The second petition
was filed by the Kwara South senatorial district candidate of the ACN,
Ibitoye Anu Ayodeji and others against winner and incumbent senator,
Simeon Sule Ajibola of the PDP and INEC.

The third petition
was also filed by the Kwara Central senatorial district candidate of
the Congress for Progressive Change (CPC), Bilkisu Tinuola Gambari
against INEC and Mr Saraki of the PDP, who won the election in the
district.

Mrs Mesiobi-Emeto
said although the tribunal had expected more petitions, only the three
petitioners were able to comply with the deadline given by law. She
said whoever did not bring their petition before May 1 did not meet the
deadline and would not have their petitions accepted.

“The petitioners
were given 21 days by law to file their petitions, while the respondent
have seven days within which to respond, while the petitioners also
have seven days to reply to the response,” she said. “The tribunal has
a period of 180 days from the day of the commencement of the hearing of
the petition to deliver its judgment on the matter before it.”

Two teams

On the governorship
election petitions, Mrs Mesiobi-Emeto said the tribunal has not
received any complaints, noting that there is still time for the
petitioners to tidy their papers and file them for adjudication.

The election
petition tribunal in Kwara State has two batches of justices sworn in
to adjudicate on election matters in the state.

The members of the
four-man batch ‘A’ of the tribunal, who are expected to adjudicate on
the senatorial, federal house of representatives and state House of
Assembly elections petitions, include A.A. Adebara, E.B. Mohammad, M.A.
Akoja and H.A. Saleeman.

The members of the
two-man batch ‘B’ of the tribunal who will oversee the governorship
elections petition, are H.O. Ajayi and I.B. Garba.

No date has been fixed for the inaugural sitting of the tribunals in Kwara State .

Click to Read More Latest News from Nigeria

Mimiko wants Moferere market completed

Mimiko wants Moferere market completed

Olusegun Mimiko,
the Ondo State Governor, has called on the state’s Direct Labour Agency
to intensify efforts towards completing the ₦150 million Moferere
market in Ondo town.

The Governor, who
made the call at the weekend during an inspection tour of the first
phase of the market, reiterated his administration’s commitment to
providing conducive environment for the people of the state.

The state
government had, in the last two years, constructed new markets in
Akure, Ikare, Owo, Okitipupa, Iju/Ita-Ogbolu among others – in order to
avert the dangers of road-side trading and create conducive environment
with necessary modern amenities for business transaction.

Mr Mimiko thanked
the traditional ruler of the town, the Osemawe of Ondo, Victor Kiladejo
for mobilising the market women to cooperate with the agency so that
the project can be completed on schedule.

“As you can see,
our people are very happy, they are excited because they know that this
government is a government that stands by its words. Let me use this
opportunity to appreciate the team that is working on this site for the
job well done. I want to appeal to you to put in more efforts and
ensure that this project is completed on schedule,” he said.

The Senior Special
Assistant to the governor on Direct Labour, Mobolaji Tunde-Suara, who
conducted other top officials of government round, said the Moferere
market had over 600 open stalls for traders, administrative offices,
security posts and conveniences.

She explained that 110 stalls had been allocated for goat sellers,
and 150 stalls for fowl sellers. The yam section gets 100 stalls while
sellers of used cloths and perishable items got about 250 stalls.

Click to Read More Latest News from Nigeria

Ohakim’s acceptance of defeat is sign of maturity, says aide

Ohakim’s acceptance of defeat is sign of maturity, says aide

The readiness of
the incumbent governor of Imo State, Ikedi Ohakim, to accept defeat and
his pledge not to challenge the victory of Rochas Okorocha in last
Friday’s governorship election is a commendable gesture from a patriot
who wants the best for his state. The Imo State commissioner for
information and strategy, Elvis Agukwe, has said.

According to Mr Agukwe, “It takes maturity for Ohakim to offer a hand of fellowship to the governor-elect.”

Major roads and
streets in Owerri, the Imo state capital, were shut down on Saturday by
jubilant residents of the state following the declaration of Mr
Okorocha as governor-elect for the state by the Independent National
Electoral Commission (INEC).

Mr Okorocha’s
victory followed the eventual conclusion of the governorship election
in the state that went into supplementary polling.

Apparently,
reactions to Mr Okorocha’s victory reflected the expectations of the
people as several bottles of champagne were freely popped by roadsides
and commercial taxi drivers and tricycle operators offered free rides
to jubilant commuters. Not to be left out of the celebration, popular
restaurants, and even local food joints, dished out free food and
drinks in the spirit of the moment.

‘The sanctity of agreements’

To win the
election, Rochas Okorocha, who ran under the platform of the All
Progressives Grand Alliance (APGA), polled a total of 336,859 votes to
defeat Ikedi Ohakim of the Peoples Democratic Party (PDP), who garnered
290,496 votes and Ifeanyi Araraume of the Action Congress of Nigeria
(ACN) who bagged 107,068 votes.

In the first
official reaction after Mr Ohakim congratulated Mr Okorocha and pledged
not to pursue the matter in court, the state commissioner noted that
the governor’s gesture was a testimony to the fact that the election
was beyond him as a person.

“I said it before,
and I repeat it now, the election was beyond Ohakim as a person. It was
about the future of Imo State and the sanctity of agreements. The
people have spoken, we have accepted the verdict,” he said.

He made it clear
that in days to come the people of Imo would miss Mr Ohakim as,
according to him, the country still yearned for his leadership.

“Nigeria has not
heard the last of Ohakim. He may have finished with the task of being a
governor, but I believe we still need his services in the future,” he
said.

Man of peace and destiny

Mr Agukwe said he
disagreed with the notion that Imo people rejected Mr Ohakim, noting
that the margin of victory, about 46,000 votes, did not confirm that
assertion. He said what happened was that godfathers, whom he described
as “political deities”, conspired to scuttle the second term ambition
of the governor because they were refused the key to the treasury of
Imo State.

“These were people
used to squandering the state’s resources and they refused to come to
terms with Ohakim’s resolve to ensure that Imo people benefit from
their sweat,” he said.

The official
however commended Imo people for remaining calm and peaceful throughout
the period of election, noting that the fact that no blood was shed was
due to the peaceful disposition of the governor.

“Ohakim as a man of
peace and destiny demonstrated that he was not desperate to remain
governor. That’s why he restrained his supporters in the face of
extreme provocation,” he said.

He called on the people to extend the same cooperation to the
incoming governor to ensure the sustenance of the “legacy of peace”
left by Mr Ohakim.

Click to Read More Latest News from Nigeria

Go to court, Delta PDP tells Ogboru

Go to court, Delta PDP tells Ogboru

The Delta State
chapter of the Peoples Democratic Party (PDP) has told the
gubernatorial candidate of the Democratic Peoples’ Party (DPP) in the
just concluded general election in the state, Great Ogboru, to
challenge the outcome of the polls won by the incumbent governor,
Emmanuel Uduaghan, if he is dissatisfied with the result.

Chairman of the PDP
in Delta State, Peter Nwoboshi told newsmen at the Benin Airport over
the weekend that the victory of the incumbent governor was a clear
testimony of the wish and will of the electorate.

“This is the fourth
time that PDP has defeated Ogboru, not the third time and I think it is
a clear statement to him that he is not wanted by the people of Delta
state,” Mr Nwoboshi said.

He challenged Mr
Ogboru and all others who are opposed to the Independent National
Electoral Commission’s (INEC) announcement of Mr Uduaghan as governor
to prepare their legal arsenal and meet the party in court. Mr Nwoboshi
added that the PDP was not afraid of any of its opponents.

“I think twice
beaten, twice shy. But this one is not twice beaten. This is four times
beaten, four times shy,” the party chairman said. “PDP is rooted in the
state and whatever you are having represents the wish of the people and
the will of the people. Ogboru has tested his might four times and he
had lost four times. So it is the acceptability of PDP in Delta state
that is in place.”

Nothing to fear

On the criticism
trailing the gubernatorial election, which some opposition politicians
said were rigged, Mr Nwoboshi said it was a case of a bad workman
blaming his tools.

“Politics is a
profession. You have to be grounded in it. You have to learn the
intricacies of politics,” he said. “In every election, these people are
bound to be quarreling with their tools that this person rigged, this
person did not rig. These are people who are not strong.”

Mr Nwoboshi also
condemned militants in the Niger-Delta region who threatened to disrupt
oil installations because of what they viewed as the imposition of Mr
Uduaghan on the people of the state. He said majority of the militants
in the Niger-Delta are with the state government, same as the ordinary
residents of the state.

“We are all
Deltans. Nobody was brought from outside, so nobody is afraid of the
other person,” he said. “There is no cause for alarm.”

The senator elect
for the Delta North senatorial district, Ifeanyi Arthur Okowa,
attributed the secret of the PDP’s victory in the state to hard work
and an ability to reach out to the people.

“We have worked
very hard, reaching out to the people during the elections and the
campaigns. Our opponents usually run,” he said.

Mr Okowa urged those who lost in the polls to take it as “the way God wants it”.

“We thank Deltans
for what they are doing. We hope that as they have chosen us, we will
continue to do our best to meet their yearning and we hope that we are
able to develop our state and leave a better state for us all,” Mr
Okowa said.

Click to Read More Latest News from Nigeria

Olorunsogo power plant to start operation in November

Olorunsogo power plant to start operation in November

The federal government yesterday said it would deliver an additional 750 mega watts of electricity to the national grid from the multi-million dollar Olorunsogo Phase 11 National Integrated Power (NIPP) by November this year.

The construction cost of the Olorunsogo NIPP is pegged at about $600 million by the federal government.

Other onging NIPPs are Omotosho, Ondo State; Ihovbo, Edo state; Alaoje, Abia state; Egbema, Imo state; Gbaran, Bayelsa state; Calabar, Cross River state; Omoku, Rivers state; Geregu, Kogi state and Sapele, Delta state.

Fielding questions from journalists after a working tour of the project, in Olorunsogo, Ogun state, Vice President Nnamadi Sambo said the government was committed to delivering stable electricity supply to Nigerians before the end of President Goodluck Jonathan’s administration.

“In another six months from now, the entire project would be completed and have 750MW added to the national grid,” he told journalists.

Improving the economy

Mr Sambo said, “We have just signed a contract with Nigerians and that is why we have to ensure that we deliver power to Nigerians”, adding that the government of Mr. Jonathan was in a hurry to improve the social and economic lives of the citizenry. He said “We have no time to waste to improve our social staus and change the fortunes of Nigerians,” reassuring the electorate of government’s commitment to delivering on their election promises.

“I want to say to Nigerians that we are not resting. And that we have done our studies and we shall deliver on our promises and not fail Nigerians,” he added. The VP expressed satisfaction over the progress of the work so far and said he was pleased to note that three of the four gas turbines had already been test run.

While thanking the Ogun State governor, Gbenga Daniel, who accompanied him on a tour of the project, the VP assured him of the federal government’s commitment to ensuring that the state benefits maximally from the power project.

In his welcome remarks, Mr Daniel said the people of the state “are happy for this project because the people have been told that they will get priority attention”.

The governor maintained that power remained central to the economic growth of a nation and urged the federal government to do more to put smiles on the faces of the electorate. He further expressed hope that the NIPP project would be completed in order to make electricity available to “our people”.

Stable power supply

Nuhu Wya, minister of state power told our correspondent, during the inspection of the project, that the contract for the execution of the project was signed in 2007 by the federal government to boost power generation in the country.

While also reassuring the Ogun State government of government’s commitment to ensuring that the people of the state are the primary beneficiary of the power project was doing everything possible to deliver stable power supply to Nigerians. The Olorunsogo NIPP is a combined circle facility with four gas and two steam turbines designed for maximum power generation efficiency. He further explained that “combined circle means that the exhaust gas from the gas turbines is recovered at about 650 degrees centigrade and used through the heat recovery steam generator to fire a steam turbine to generate additional power”.

The effect, he said, “is that the exhaust heat that would otherwise be lost is recovered and used to generate additional electricity without bearing more gas”.

According to him, the process increases the efficiency from about 35 percent to 50 percent. Mr Wya added that three of the four gas turbines were already running, stating that the 750MW will “contribute additional 20 percent of the total power available to Nigeria. This is a significant contribution to the available 4000MW”.

Click to Read more Financial Stories

Time to leverage on consumer research

Time to leverage on consumer research

One major thing I find surprising as a professional is that our country is not data driven. There is no data bank where you can readily access information on a specific project. This clearly explains the absence of periodical research that seeks to gain brand related knowledge, attitudes and behavioural intentions of the consumers. Consumer research is one area that some companies have not adopted to measure the ratings and performance of their brands. Consumer research is a potent tool to measure consumer perception and views about the brand and its performance in the market place.

Consumer research assists to determine the ratings of the brand in terms of awareness, consumer preference, consumer purchase intention and other key variables that impact on the brand. It determines the value consumers give the brand and build relationships and touch points that are fundamental to the brand health.

The good thing about consumer research is that it uncovers some unique information that the brand custodians are unaware of. I remember during a focus group discussion for O!Noodles several years ago in the north, some of the students stated that noodles was not only food to them but a breakfast cereal before going for lectures. This provided another angle to the consumer consumption pattern for noodles. This demonstrates, to a large extent, the important role of consumer research in developing the brand message. Spontaneous consumer insights are key to delivering brand promise and ultimately meeting consumer needs.

Consumer research also helps in establishing the key benefits and values of the imperative to measure the brand communication campaign and determine the next level. In communicating to an identified audience, through specific brand messages, consumer research tests the ease of recall and also ascertains whether the brand message resonates with the consumers. Consumers can and do create links between brands and their self concepts as this makes them engage their favourite brands.

A brand needs to assess the current reality. How does the consumer view the brand? What does its symbol represent to the various segments of the target audience; does the brand identity accurately reflect the consumer perception? These are key questions that consumer research helps in proffering solutions to.

It is time for brands to give voice to the consumer through direct interface to gain deep insights and views about brand performance. Brand goals and visions can only be achieved when consumer views are properly analysed and utilized to impact the overall performance of the brand.

Consumer research assists brands to refocus communication and marketing activities in line with consumer thinking. Insights generated go a long way in aligning brand communication to fit into the needs and aspirations of consumers. Brands can indeed win emotional commitment with consumers through the concrete platforms that consumer research provides.

It has become expedient for companies to know the consumers, feel their pulse and seek to influence their behaviour. Consumer research is a detailed process of embarking on extensive brand information search, brand evaluation and other activities to properly position the brand. It is crucial to know the specific needs consumers want satisfied, and how consumers gather information to select the brand amongst competitors.

Like I stated earlier, we are not data driven in this country and there should be an urgent way out of this. We need to develop a consistent approach to periodical consumer research. We need to understand the consumer behaviour, the decision-making process, and understand the various internal and psychological processes that influence the consumers. The major goal should also be to study the consumer and generate insights with direct implications for the brand communication campaigns.

We need to do a lot more in research because we still lag behind other countries in terms of research information and data gathering. The needs and motivations of consumers should be given utmost priority. Our brand communication efforts should not be based on assumptions and half truths. Even though the cost of conducting research may be high, companies get value for it in the long run in positioning brands appropriately.

Click to Read more Financial Stories

World Bank pledges support for power sector investors

World Bank pledges support for power sector investors

The

World Bank has said it is prepared to provide support to any foreign

investor interested in Nigeria’s power sector. Onno Ruhl, World Bank

country director for Nigeria said the Bretton Woods institution

realises that the power sector is critical to the future of the

economy.

“We will do what we can to give comfort to investors who have the courage to come to invest in the sector in Nigeria,” he said.

According to him, private participation in the power sector was critical in order to see improvement.

“We

will focus on power generation effort and will also focus on getting

private participation in distribution companies especially key

distribution companies that have short term viability in their

horizon.”

He

said key distribution centres include Ikeja and Abuja distribution

centres. According to him, the major issue with Nigeria is the

implementation of the plans that have been drawn up over the years.

Speaking yesterday in Lagos at the bi-monthly breakfast meeting of the

Nigeria British Chamber of Commerce, the World Bank official said it

would be erroneous to think that solving the power problem would

translate to solving other issues in the country.

“It

is government’s business to make it easy for people to do business.

Should the government be more concerned about the power sector or

should it be concerned about social inclusion which is indeed very

important, the power sector is the simplest story as far as I am

concerned.”

Frightening statistics

Reeling

out statistics, he said the Nigeria has over 100 million people under

30 years of age which is more than the entire population of Libya,

Egypt and Tunisia combined. “Nigeria has 75 million people under 20.

Nigeria has 46 percent unemployment between 16 to 24 years of age.

Every year, 800,000 Nigerians pass their JAMB exams and do not get

admission into the university because there is no space for them.” He

said government has to find ways of including these people in the

economic space or they could be sources of social disorder in the years

ahead. He cited the Brazilian example where the government dedicated

about one percent of the country’s gross domestic product to cater for

the bottom 20 percent of the population. He said procedures at the

country’s ports need to be overhauled in order to make it easier for

goods to be cleared at the point of entry. According to him, the

country would achieve more progress by improving the business climate

than it would in the power sector which would take several years to

accomplish.

Improving business climate

“You

can achieve more in the short term by making the business climate

better than in power because power will still take time. Improving the

business climate would have more impact on job creation. We need

government with political guts to do this,” he said.

On the future prospects of Nigeria, he said the country can get it

right if the implementation strategy is well thought out. “Nigeria is a

country with enormous potentials not because it has oil but because of

it has a good balance sheet, because it has a large market which cannot

be ignored and because it has more money in its pocket more than

before,” he said.

Click to Read more Financial Stories