Archive for nigeriang

‘Nigeria’s economic risks are exaggerated’

‘Nigeria’s economic risks are exaggerated’

“Its
challenges notwithstanding, the outlook for Nigeria financially remains
positive and investors should see most of them as opportunities, as
they reflect significant underinvestment in the past.

“Most
of the challenges Nigeria face can be seen as opportunities.
Infrastructure spending would clearly be a strong gateway to unlock
substantial economic development opportunities, and we believe this is
a strong case for seeing the economic environment as an enabling one
for private sector investment,” Afrinvest, an investment banking firm,
said in its assessment of the nation.

It
says the government’s willingness to improve its economic management
can be seen from the reforms targeted at various sectors.

“Power
reform is a key priority for the present administration, according to
its latest economic action plan. We believe the execution of this
detailed reform plan will result in the revival of the country’s power
sector.”

Other
positive initiatives, Afrinvest said, include the Asset Management
Company of Nigeria, the Nigerian Local Content Programme, the Petroleum
Industry Bill, and electoral reforms (with the appointment of a
credible respected electoral head, a drive for credible voter
registers, and biometric machines for accurate vote counting).

“Our outlook for Nigeria remains positive from a political standpoint, as we expect successful elections in 2011.”

A long way to go

However, the firm says the nation has a long way to go.

“Nigeria
is still battling acute infrastructure deficiencies, particularly with
power supply (where it remains one of the lowest-ranking countries,
with insignificant urban and rural penetration), the lack of good
roads, poor health and education systems, low broadband penetration,
low air penetration, high corruption levels, and high import levels.

“However,
the country has great potential yet to be unlocked, and a wealth of
natural resources yet to be explored. Even though corruption remains a
major concern, we have seen a noticeable improvement, as illustrated by
the Corruption Perception Index.”

Fundamentals remain strong

The
overall economy grew 6.7 percent in 2009, while non-oil growth was 8.3
percent. Growth has been largely underpinned by the agriculture sector,
which accounted for 43 percent of Nigeria’s GDP. While oil is a major
contributor to government finances, it only accounts for 17 percent of
GDP. The average inflation rate peaked at 13.7 percent in August 2010,
up from 12.4 percent in 2009, and 11.6 percent in 2008. Although it was
primarily driven by exogenous factors, such as food inflation,
expansionary fiscal policies have yet to translate into serious
inflationary pressures.

Foreign
and domestic debt remain relatively low, following the write-off of a
significant amount of external debt by the Paris and London Clubs of
creditors in 2005 and 2006 – although domestic debt is on the increase,
rising to 12.4 percent of GDP in 2009 from 9.3 percent in 2008.
Nigeria’s external debt in 2009 was 2.0 percent of GDP.

Putting into perspective where Nigeria was and where Nigeria is today, Afrinvest concluded that the time to invest is now.

“Now is the time, time to buy Nigeria, time to buy Nigerian banks. The
Nigerian market remains very cheap from a valuation stand point when
compared to its emerging market peers. The capitalisation of the
Nigerian Stock Exchange is back to 2006 levels, despite its GDP being
1.5 times bigger in 2009. After peaking at 62 percent of total market
capitalisation, the banking sector ended 2009 with a contribution of
only 42 percent.”

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Peru’s Mario Vargas Llosa wins Nobel Literature Prize

Peru’s Mario Vargas Llosa wins Nobel Literature Prize

Peruvian, Mario
Vargas Llosa, has been awarded the 2010 Nobel Prize for Literature.
Peter Englund, a professor and permanent secretary of the Swedish
Academy, made the announcement on Thursday morning.

The Academy said
the prize was awarded to Llosa “for his cartography of structures of
power and his trenchant images of the individual’s resistance, revolt,
and defeat.”

Born on March 28,
1936, in Arequipa, Peru, Llosa is one of the most acclaimed writers in
the Spanish speaking world with over 30 novels, plays, and essays to
his credit.

Apart from being a
writer, Llosa is also a noted journalist, academic, essayist, and
politician who contested for the Peruvian presidency in 1990. His
interest in professional politics has, however, waned, though elements
of politics are still in his writings.

He has also had a
career in lecturing, teaching in universities in the US, South America,
and Europe. He is currently at Princeton University, New York, where he
was told by telephone on Thursday that he had won the prize.

Llosa’s honour comes 28 years after South America’s last winner of the prize, the renowned Gabriel Garcia Marquez, won in 1982.

‘The Time of the
Hero’; ‘Conversation in the Cathedral’; ‘The War of the End of the
World’; and ‘The Feast of the Goat’ are some of the popular works by
the latest Nobel literature laureate.

Llosa’s works have
been translated into about 31 languages including French, English,
German, Swedish, Chinese, Hebrew, Arabic, and Croatian.

His international
breakthrough reportedly came with the 1960s novel, ‘The Time of The
Hero’ which built on his experiences at the Peruvian military academy,
Leoncio Prado. The book was considered controversial in his homeland
and 1,000 copies were burnt publicly by officers from the academy.

The 74-year-old author is the 102 winner of the prize, which has
been awarded since 1901. Four Africans, Nigeria’s Wole Soyinka; South
Africa’s Nadine Gordimer and JM Coetzee; and Egyptian, Naguib Mafhouz,
are past winners of the prize, which wasn’t awarded on seven occasions.

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Opposition parties criticise police ban on rallies

Opposition parties criticise police ban on rallies

The Conference of Nigeria Political
Parties has expressed outrage over the ban placed by the Federal
Capital Territory Police Command on public rallies, demonstrations,
processions, road shows and other public meetings.

“For us freedom of assembly and freedom
of association are the hallmarks of democracy, guaranteed by the 1999
Constitution of the Federal Republic of Nigeria, African Charter on
Peoples and Human Rights and UN Declaration of Human Rights,” the group
said in a letter to the Inspector General of Police, Hafiz Ringim, and
signed by its spokesperson, Osita Okechukwu..

“We find it cogent to remind the Police
that the obnoxious Public Order Act, a colonial instrument of
oppression in the hands of the Police, was repealed in a profound
judgment delivered by Justice Anwuli Chikere of Federal High Court and
upheld by the Appeal Court in a suit instituted by the CNPP.”

The group should not resort to strong
arm tactics which neither detect nor prevent crime. It stated that a
vigilant and mobile police force with modern equipment could have
forestalled the mayhem of the independence anniversary, which claimed
innocent lives, wounded many and rubbished the image of the country.

“We, therefore, call on the Inspector General of Police as a matter
of urgent national importance to cancel the ban and embark on the
process of installation of modern equipment to fight.”

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‘Jonathan will accept defeat in the primaries if he loses’

‘Jonathan will accept defeat in the primaries if he loses’

The director
general of Goodluck/Sambo Campaign Organisation, Dalhatu Tafida, said
yesterday, in Abuja, that President Goodluck Jonathan will accept
defeat if those challenging him win the primaries of the Peoples
Democratic Party (PDP).

He stated this while reacting to the call by some northern elders for Mr. Jonathan to resign or be impeached.

Mr. Tafida, who
briefed a group of journalists barely 24 hours after he spoke with
others, said the presidential election is not a matter of life and
death, stressing that if any of those aspirants opposing the president
emerge victorious, he will accept the result.

At present, there
are four other presidential aspirants on the platform of the ruling
People’s Democratic Party (PDP) besides Mr. Jonathan. They are former
military president, Ibrahim Babangida; former vice president, Atiku
Abubakar; and former national security adviser, Aliyu Gusau. Others are
the Kwara State governor, Bukola Saraki; and Sarah Jubril.

“If the opposition
succeeds, we will follow them. I am been fair to others; if they win,
we shall follow them. Let us not overheat the political temperature,”
Mr. Tafida said.

Preaching the
gospel of peace, the former Nigerian envoy to the United Kingdom denied
plans by the president to influence laid down procedures.

“Why do we want to
manipulate things? God has already decided who will be president. Let’s
give peace a chance. We have passed a stage where power changes hand in
a room where an individual presides. Power must be through open,
transparent elections. We must give equal opportunities to all. A
presidential election is not a game of life and death,” Mr. Tafida
said.

He enjoined all
members of the PDP in the race to remember that “there is politics
after presidential elections, let us be careful.”

Word for the Northern leaders

Warning against
politicizing the October 1st twin bombing in Abuja, the director
general said the incident was a national tragedy, a catastrophe, and a
national embarrassment, and insisted that no matter the grievances, 50
years in the life of any nation comes but once.

He said it was time
to review the state of development in the country with those with whom
it was nearly at par at independence, including Malaysia, South Korea,
Thailand, and South Africa.

According to Mr.
Tafida, over 12 innocent Nigerians died as a result of the bombings,
adding that instead of the Northern Political Leaders Forum (NPLF), led
by former finance minister, Adamu Ciroma, to be sober, they are trying
to make political gains from the incident.

“While the security
agencies are busy trying to unearth the details of the natural tragedy,
the provocative comments of some of our yesterdays men, laced with
ethnic chauvinism, suggest that they do not mind if Nigeria explodes if
they don’t acquire power at all cost in the 2011 primaries and general
elections,” he said.

Also on Thursday,
the Nigerian Alliance for Credible Leadership (NACL) asked the NPLF to
concentrate on how to unite the country, rather than making
inflammatory statements over the bombing incident.

Call to arm

NACL national
coordinator, Lawal Daku, said at a press conference in Abuja that the
said statements credited to Mr. Ciroma and the deputy director general
of the Ibrahim Babangida 2011 Campaign Organisation, Kanti Bello,
asking Mr. Jonathan to resign or be impeached were uncalled for.

“If people like
Ciroma who had ample opportunity of affecting positively the lives of
Nigerians when they were in power, put the interest of the masses
before their own, we will not be where we are today. We remain in total
darkness the likes of Ciroma put us into.

“It is in this
light that we are baffled at the inflammatory comments of supposedly
statesmen like Alhaji Adamu Ciroma and Senator Kanti Bello. We are
making this clarion call to them not to start fanning the embers of
war,” Mr. Daku said.

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Travellers differ on stiffer security at airport

Travellers differ on stiffer security at airport

Passengers and
users of the Murtala Muhammed International Airport (MMIA), Lagos, on
Thursday, expressed diverse concerns over the recently introduced
stringent security measures adopted by the Federal Airports Authority
of Nigeria (FAAN).

While some agreed
with the necessity of the newly introduced security measures aimed at
checking any form of terrorism following the October 1, 2010 twin-bomb
blasts in Abuja, other travellers believe that the development has
“unbearably” added to the regular traffic jam experienced on roads
leading to the airports. At peak periods, the Lagos airport narrow
roads are often characterised by high vehicular congestion as workers
and travellers move to or leave the airport. “I never thought that the
situation in Abuja would warrant this depressing screening being
carried out by these officers,” said James Ani, an airport staff. “They
may be right but it is highly unbearable considering the time we spend
on this traffic.”

The screening is
jointly carried out by operatives of the Nigerian Air Force, Police
Anti-Bomb Squad, Immigration, National Civil Defence Corps, and
Aviation Security, on all the routes leading to the airports. According
to Mr Ani, this has added to the plights suffered by commuters on the
roads. He called on the airports authority to deploy more men to the
roads in order to fast track the process of the checks.

Go to the airports early

On the other hand,
Samuel Oluwalana, a passenger at the airport commended the initiative
and called on other airports users to comply with the security
operatives. “It is laudable despite what some people will say when you
look at the traffic that this must have caused,” he said. “It is better
to be late and be alive than to lose your live to a bomber or a
terrorist while in haste to get to the airport.”

NEXT, on Thursday,
reported the new security measures at the airport with the officers
stationed on roads at about two kilometres away from the international
terminal, where they enforce thorough screening of both commercial and
private motorists using the roads. Richard Aisuebeogun, the Managing
Director of FAAN, in a statement on Thursday, urged on the public to
assist the agency in its fight for a safe and secured airport, adding
that with respect to the prolonged traffic, travellers and airports
users should endeavour to get to the airport “two to three hours” ahead
before their stipulated departure time to avoid missing their flights.

“We also want to advise members of the local communities and all
stakeholders to report any strange or unusual activities within the
airport environment to security agencies nationwide,” he said. “We
appeal to all airport road users to cooperate with the officials
involved in the screening exercises, to ensure smooth facilitation, and
undue delays.”

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The Independence Day Bombings

The Independence Day Bombings

On 1st October in
the midst of celebrations for Nigeria’s 50th anniversary of
independence from Britain, three bomb blasts rang out in central Abuja
a mere one block from Eagle Square where President Jonathan was
scheduled to address the nation. At least 12 people are confirmed dead
and more than 30 injured in the central area of the national capital.
Nigeria’s security services have arrested several people in connection
with the bombing.

MEND has issued
public statements claiming responsibility. If indeed MEND did
perpetrate the crime then this is a drastic shift from MEND’s claims to
be championing the cause of the poor, disadvantaged and downtrodden
people of the Niger Delta. The demands it has consistently proclaimed
for resource control, better policing, and community development in the
Niger Delta do not appear to be linked to the Abuja bombings.

Since the general
amnesty was proclaimed one year ago which has seen 20,000 former
militia surrender and enter retraining programmes, MEND has allowed the
amnesty programme to proceed without engaging in further violence
despite not subscribing to the amnesty. The bombings have an obvious
inconsistency with MEND’s ceasefire and political agenda which it has
consistently pronounced.

If indeed MEND is
responsible then there are good reasons to suspect that these crimes
indicate a developing rift in MEND. MEND has indicated that the
bombings were carried out in retaliation for the arrest of Henry Okah
in South Africa. However, the timing of these claims seems odd. MEND
gave notice of these bombings days before Okah was arrested. The
bombings in defence of Okah seem to be a belated justification. What
then was MEND’s motive in setting of the bombs that killed so many
innocent people?

MEND also claims
that the South African security forces acted at the request of the
Nigerian authorities. The Nigerian Federal Government categorically
denies that it made any request to have Okah’s residence searched or
Okah arrested. Okah appeared before the courts in South Africa on
Monday 4th October and in the material presented to the courts and made
available from the South African Government there is no indication of
any link to the Nigerian Government.

These bombing
cannot be construed as a Niger Delta related incident. They are a
direct threat on the nation and require President Jonathan to act
clearly and decisively to protect Nigeria’s citizens.

Former MEND
commanders from the Niger Delta who availed themselves of the amnesty
have vehemently denounced the bombings. This is a responsible and
credible action but is unlikely to deter opportunists and copy-cat
incidents. Threats to explode devices at Government House at Akwa in
Anambra State and at NNPC headquarters in Abuja are likely to be
followed by similar such security alerts.

There were security
failures in locating the bombs. Despite at least 30 hours warning of
the blasts the State Security Services failed to locate the devices. In
a woeful defence of their failure the SSS spokesperson blamed the rain
for the security service’s inability to locate and remove the devices.
Clearly President Jonathan needs to address this catastrophic failure
in the security services. The appointment on Monday 4th October of
former general Owoye Azazi as National Security Adviser is a decisive
step in the right direction. Further reform of the security sector
should follow.

It is unlikely that
these bombings were the work of MEND but if so then MEND has betrayed
its cause, and any sympathy the public and particularly the people of
the Niger Delta may have had with it have been blown away with the
blasts.

The people of Abuja
will have to live with much tighter security that will inevitably cause
inconvenience through traffic jams as car boots are searched, delays in
security searches at offices and hotels, and far more rigorous and
intrusive airport clearances. This is the price of vigilance and it is
a great shame that Nigerians have lost some of their freedoms through
these acts of sabotage and death.

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Council chairman, 38 others in court over kidnapping

Council chairman, 38 others in court over kidnapping

The transition
chairman of Ukwa west local government, Henry Nwokengbede is one of 39
suspected kidnappers arraigned yesterday before an Umuahia senior
magistrate court presided over by Adiele Ogbonna, for kidnapping and
related offences.

Security officials
said the arraignment of the suspects was part of their intensified
efforts to free Abia from the clutches of kidnappers. The suspects,
including 14 females, were arrested on September 30 when soldiers
launched an offensive against kidnapping gangs around the Ukwa west
area of the state in search of the 15 children abducted on their way to
school.

The suspects were
charged under Section 3 (C) of the Prohibition of Terrorism Law of Abia
state, “for being aware or reasonably having been aware that some
persons, names unknown are being kidnapped or held hostage in your
various communities, fail to disclose the place to the police within
reasonable time.” However, no plea was taken when the charges were read
and the matter was adjourned to October 12, while Mr Nwokengbede was
directed to appear on October 26.

The Inspector
General of Police, Hafiz Ringim, said the end had finally come for
criminals who have been holding Abia hostage. He said the minister of
police affairs will visit Abia to handle the political aspect of the
ongoing efforts to clear Abia of all criminals.

“I have the
mandate; I have the order to flush out all the criminals in the
shortest time,” he told Abia State governor, Theodore Orji during a
courtesy visit, adding that the increase in number of police and army
personnel in the state was a sign that there was no longer a hiding
place for hoodlums.

He said the
kidnappers and other criminal elements have to choose either to come
out of the forests and surrender or “we will meet them in the forest
and they will face annihilation.

“We shall not go
out of this place (Abia) until we achieve the success we are determined
to achieve,” Mr Ringim said, adding, “we are law abiding and we will on
no account violate fundamental human rights of any body.”

Mr Orji said he supported Mr Ringim’s position that there should be no mercy for the criminals who only want quick money.

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>PDP stops state chapters from visiting headquarters

>PDP stops state chapters from visiting headquarters

The national
leadership of the Peoples Democratic Party (PDP) has barred delegations
from the state chapters of the party from visiting the Abuja
headquarters to lodge complaints.

The national
working committee of the ruling party, at its meeting on Wednesday
night, resolved not to receive any delegation henceforth except it
receives prior notice and approve the visit. The committee also
directed state chapters and stakeholders who have any complaints, to
channel them to their zonal offices, which will handle them or refer
them to the national headquarters for further attention. “The National
Working Committee directs that henceforth, no state delegation will be
received at the National Secretariat without prior notice and approval
by it,” a statement signed by the party’s spokesman, Rufai Alkali, said.

“All State
Chapters, groups and stakeholders in the States are advised to lodge
all complaints with their respective zonal offices who will resolve the
matter or refer same to the NWC where necessary.” The committee said it
has received news of the order of the High Court of the Federal Capital
Territory dissolving the Anambra State Congresses committee and has
filed an appeal. The party said a motion for stay of execution of the
order has also been filed.

It noted that there
was an earlier order by the High Court of Anambra State directing the
PDP to hold congresses in Anambra State, which is still Subsisting.

“Consequently, the NWC has directed the South East zonal Working
Committee to conduct the primaries to select PDP Candidates for the
forthcoming Ward and Local Government Electionsin Anambra State,” it
said.

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PPA factions quarrel over Kalu’s presidential ambition

PPA factions quarrel over Kalu’s presidential ambition

A faction of the Progressive Peoples
Alliance (PPA) said, on Thursday, that former Abia State governor, Orji
Uzor Kalu, will not be given the ticket of the party to contest the
presidential election.

Mr. Kalu had recently declared his intention to vie for the presidency.

The deputy national chairman of PPA,
Benjamin Oburota, said in Abuja that Mr. Kalu has since ceased being a
member of the party. He said that the former governor led some members
of the party to join the ruling Peoples Democratic Party some months
ago.

“Is it possible for a non-member of a
political party to fly its presidential flag?” he asked, adding that
Mr. Kalu had long severed his ties with PPA. Mr. Oburota alleged that
the former governor thrived in dictatorship and under-hand deals, and
that the party no longer accommodates him.

He blamed the former governor’s
brazenness in the political scene on the Economic and Financial Crimes
Commission(EFCC) and the judicial system which, he said, are slow in
prosecuting him.

“This has created room for Kalu to roam the streets rather than cool his heels in prison,” he said.

Dispute over membership

Referring to the recent invasion of
Thisday newspaper premises by Mr. Kalu, accompanied by court bailiffs
and policemen, Mr. Oburota said that the act further exposed the
desperation of the former governor in seeking to re-establish his
relevance.

But the chairman of the other faction
led by Larry Esin, dismissed Mr. Oburota’s assertion, saying Mr. Kalu
has the right under the country’s constitution to contest the
presidency.

According to Mr. Esin, the leader of
the other faction, Lisu Akerele, is no longer a member of the PPA,
having resigned from the party last year.

He added that Mr. Oburota is neither the chairman of the Independent
National Electoral Commission (INEC) nor the chief law officer of the
federation to interprete the constitution and the electoral law.

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Jonathan’s Kebbi campaign coordinator resigns

Jonathan’s Kebbi campaign coordinator resigns

The battle between
President Goodluck Jonathan and some northern leaders over the October
1 bombings took a new twist yesterday as the Kebbi State coordinator of
the Goodluck Support Group (GSG), Nasir Abubakar, resigned his position.

In a letter dated
October 6, 2010 and addressed to the Director General of the Goodluck/
Namadi Campaign Organisation, Mr. Abubakar said the President’s actions
following the bomb blasts caused his resignation.

“My resignation is
as a result of the stand of Mr. President on the issue of zoning and
lately his position absolving MEND of responsibility despite their
repeated claim of responsibility for the unfortunate incidence of
October 1st, 2010 in which lives of innocent Nigerians were lost and
several others severely injured,” Mr. Abubakar said.

The Kebbi State
politician said his support for Mr Jonathan “was based on the
circumstances of his first emergence first as Acting President and
subsequently as commander in Chief in strict adherence to the letter
and spirit of our constitution.”

Mr. Abubakar’s resignation is, however, believed to be a fallout of
the ongoing struggle between the Kebbi State governor, Saidu Dakingari
and his predecessor, Adamu Aliero who has since joined the Congress for
Progressive Change, the party under whose platform former Nigerian head
of state, Muhammadu Buhari, is contesting for President.

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