Friday

Fayemi resumes, promises to diversify economy to solid minerals

Mr Kayode Fayemi, the new Minister of Solid Minerals, on Wednesday in Abuja, promised to diversify Nigeria’s economy from its mono product to solid minerals.
Fayemi made the promise when he assumed duty with the Minister of State, Mr Abubakar Bawa, and the Permanent Secretary of the Ministry, Mr. Istifanus Fuktur.
He said solid minerals were vehicles to diversify the economy and boost the Gross Domestic Product (GDP).
“We will deliver on the promises made by President Muhammadu Buhari to Nigeria to diversify the economy from crude oil to solid minerals.
“Our tenure will not accept business as usual because of the challenges facing our economy; but we are determining to ensure that we justify the confidence reposed on us.
“I am passionate about the solid minerals because of abundance of untapped minerals in my state and other states across the country.
“Our challenges have always been turning the potential into concrete reality; we are going to work with the ministry officials to achieve the set goal of Mr President,’’ he said.
He said the ministry’s earlier budget would be corrected to achieve the task given to the team by the president.
“We need all your support to achieve Mr President’s agenda; at the end of our tenure, solid mineral will be the number one resources generating maximum revenue for the country.’’
He warned the officials of the ministry that his tenure would not accept business as usual.
Also, Bawa called for the support of the staff, adding that adequate motivation would be given to them.
According to him, the current administration emphasised on solid minerals and would be achieved through hard work and commitment.
Earlier, Mr Fuktur, the Permanent Secretary of the ministry who was a former Director of Finance and Account in the ministry, said the ministry had its blueprint and good programmes to move the nation forward.
He said the biggest challenge of the ministry was the Ajaokuta Steel Industry that had been abandoned for decades.
He urged the ministers to revive the industry urgently, adding that rail construction would be needed for the movement of finished products to different locations.
NAN reported that the ministers and the permanent secretary were received by Mr Samuel Oluwole, the Director, Human Resources Management, and other top officials of the ministry (NAN)
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NBA vows to punish corrupt lawyers

The National President of the Nigerian Bar Association (NBA), Augustine Alegeh (SAN), has vowed to punish any member found to be corrupt in the discharge of his duties.
Alegeh gave this warning yesterday, during the National Executive Committee meeting organised to take stock of the bar in the judicial process in the country.
According to him, the bar was re-positioning to work with the new Justice Minister to strengthen the justice system in the country.
The acting Chief Judge in Rivers State, Justice Daisy Okocha, believed the judiciary would be more effective without political interference.
The two-day meeting was flagged off by the Rivers State Governor, Nyesome Wike, in Port Harcourt, Rivers State’s capital in Nigeria’s southern region.
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Lamorde Still Police Commissioner, To Be Posted Soon – Okiro

The Police Service Commission, PSC,  yesterday, said the embattled former Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Lamorde,  who recently proceeded on his terminal leave, is still a Commissioner of Police and will be duly posted as soon as he reports for duty.
Speaking exclusively on phone, the Chairman of the commission, Sir Mike Okiro, said he performed creditably well at the EFCC, adding that the force is proud of him.
According to him, “he is still a serving Commissioner of Police. He will come back to us for re-posting.  He was only seconded to EFCC. He will not be required to go through any process because he was just on secondment.  The moment he reports, we will post him.”
Prodded further to comment on his performance as the EFCC boss, Okiro said: He did very well. He did the Police proud.  He performed his beat and we are happy and proud of him.”
Lamorde, who served as the Chairman of the EFCC for four years,  proceeded on terminal leave last week ahead of the end of his tenure in February 2016.
EFCC chairman, Ibrahim Lamorde
He was replaced in acting capacity with Mr. Ibrahim Magu  who, until his appointment, was the head of EFCC’s Economic Governance Unit, EGU, during the tenure of Nuhu Ribadu as Chairman.
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Editorial: MTN tells investors to hold the line

Sifiso Dabengwa. Picture: MARTIN RHODES
THE RESIGNATION of MTN CEO Sifiso Dabengwa, like everything else in the way the company has handled its Nigeria crisis, came later than it should have. His statement refers to “unfortunate prevailing circumstances”, which seems to vaguely imply that bad luck rather than bad management was the cause of the huge US$5,2bn fine — which is, after all, more than twice the entire group’s profit for 2014.
The clear impression remains that MTN did not take the Nigeria regulators seriously and, having failed to judge the mood in that country, then failed to manage the crisis proactively and transparently.
It makes sense, in the heat of battle, to have appointed Phuthuma Nhleko as executive chairman while the company identifies a successor for Dabengwa. Nhleko served as MTN group CEO for nine years until 2011, and then was brought back as nonexecutive chairman in 2013 to replace Cyril Ramaphosa. If anyone has the experience, authority and credibility to make an impact in negotiations with the Nigerian authorities, it is Nhleko.
And yet, the questions regarding MTN’s governance remain. Did Nhleko and the board apply their minds to MTN’s previous regulatory infractions in Nigeria? Were they aware of the looming crisis?
Did they know, and do they yet know, whether the failure to disconnect millions of unregistered subscribers was a result of negligence, or a calculated gamble to maintain revenues in tough times? Was there an attitude of, to use a traffic enforcement analogy, “everyone’s speeding without being stopped, so we’ll just continue speeding”.
There are broader points to be made about how corporates need to manage a crisis, especially a strategic one where shareholder value could be threatened.
MTN needed to be proactive — not reactive. It said it was not warned of the announcement of the fine, but this is difficult to believe. Surely it had to have been aware, and surely it should then have alerted shareholders to the risks?
Once the fine was known, MTN was cryptic about the reasons and communicated only through spokesmen.
Instead, the CEO needed to seek as many personal media interviews as possible — not avoid them. At such a time, a reputation for being arrogant and inaccessible, which MTN’s executives had developed, becomes detrimental to the business of the company.
After all, MTN’s share price fell 25% in a week — partly as a reaction to the fine itself, but also in part undoubtedly due to the company’s lamentable failure to communicate and manage perceptions.
In a crisis, the corporate instinct is to deny, delay, conceal and avoid. But the opposite response is necessary.
The problem must be acknowledged and regret should be expressed, with an apology if necessary. The CEO must take responsibility and be the public face of the response. There must be maximum disclosure of what happened, and detailed explanation of how it came about. At the same time, the company must make it clear that, though it is under pressure, it is in control. It must have a plan to manage a recovery, and to prevent a recurrence. Shareholders understand that things go wrong: the issue is what is being done about it?
Behind the tactics of response to a particular crisis, there has to be a strategic posture that is both continuous and adaptable.
Does the company understand the environment in which it is operating — and not just the policies and regulations, but also the economic, political and social factors as well? Is it responsive to that environment? What weight should be given to individual personalities in assessing risk? Is there regular and reliable intelligence available?
The bigger and more successful the company — and MTN is very big and has been very successful — the greater the risk when something goes wrong. That is why board oversight and interrogation is so important, informed by an acute consciousness that the multiple jurisdictions where the company operates present varied and complex challenges.
It remains to be seen whether Phuthuma Nhleko can regain the initiative for MTN, while demonstrating a newly proactive attitude by the board. There is a lot of catching up to do.
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N3bn road repairs increased economic activities in Onne seaport –Stakeholders

Stakeholders in the nation’s maritime industry have disclosed that the repair of the East-West road by River state government in conjunction with its partners has boosted economic activities at Onne seaport as well as Oil and Gas centre in the state.
It would be recalled that Rivers State Governor, Chief Nyesome Wike along with Intels Nigeria Limited, INL, and the Nigerian Ports Authority, NPA, repaired the road at cost of N3 billion to boost commercial activities in the oil-rich state.
Governor Wike had on assumption of office, appealed to some firms operating within the Oil and Gas ports complex to join hands to repair the sixkilometre East-West road, especially between Eleme junction in Port Harcourt and Onne port junction, belonging to the Federal Government.
Intels had in response to the call, donated N1 billion while five other firms, comprising the NPA, Indorama Petroleum Limited, West African Container Terminal Limited, Port Harcourt Refining Company Limited and Oil and Gas Free Zones, Onne contributed N2 billion. Some stakeholders, who commented on the repairs of the road, noted that economic activities at the seaports have returned in full swing.

While recounting the harrowing experiences, the stakeholders equated the situation to the gridlock in Apapa, Lagos as business activities were negatively affected, due to poor access port roads. “The untold suffering this development brought on commuters and businesses within and outside the ports came with a huge cost, as profits declined annually.
The long wait for governments at various levels to take responsibility and intervene to save citizens and businesses from hardship were exhaustive and unattainable, leading to the collaborations with Rivers state government”, a stakeholder stated.
It was also gathered that Reynolds Construction Company, RCC, the contractor handling the road repair, has guaranteed the quality of the road, saying it will sustain free flow of traffic.
Meanwhile, the Head, Public Relations and Nigerian Content Development for Intels Nigeria Limited Mr. Isidore Sambol, who reacted on the issue, noted that companies and agencies are committed to their Corporate Social Responsibility, CSR, just as he said, they are not taking away the responsibility of government to its citizenry “It is about identifying with the communities and giving back to the society, being in business for the common good”, Sambol said.
Intels Image Maker also assured that the daily free flow of traffic with minor hitches show the strength and capacity of the contractor, RCC, which is also committed to delivering the job on schedule.
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FAAN gets nod to recruit 720 workers for airside operations

Federal Government has approved the Federal Airports Authority of Nigeria, FAAN, to engage additional 720 personnel to boost its activities. FAAN said that the additional workforce would be deployed to airside of the airports runways to boost safety around the facilities across the country.
Spokesman for FAAN, Mr. Yaubu Dati in a statement said, the Managing Director of the agency, Engr. Saleh Dunoma dropped the hint at the opening ceremony of a threeday workshop to mark the Murtala Muhammed Airport, MMA, 2015 Safety Week held at the international wing of the airport in Lagos state.
Dunoma also hinted that as a result of the growing threats to airports and flight operations, the management was putting appropriate measures and equipment in place to forestall any threat in and outside the airports.
While urging participants to plan ahead to avoid accident, Dunoma assured that FAAN places premium on safety.
The Guest Speaker and FAAN’s Director of Airport Operations, Capt. Henry Omeogu, said the safety week was to provide awareness to stakeholders as well as travellers on the need to observe safety measures at the airport.
Omeogu however frowned at the indiscriminate posting of untrained personnel by the airport authority and airlines to airside, describing the personnel as nothing, but hazards that may cause serious and regrettable accidents in the sector.
He charged the staff to carry out daily inspections and audit of movement areas, directing all airport managers to urgently set up local runway safety teams to prevent incident of incursion and excursion on the runway.
With the theme ‘’Airside Safety, the Very Essence of Aviation, various speakers harped on the need for constant interface among stakeholders to promote safety around the airside.
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NNPC, IOCs, indigenous firms bemoan low oil prices

Operators have bemoaned the prolonged low crude oil prices in the global market, adding that it has stilled investment and development of the industry.
The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu indicated that the price of Nigeria marker crude, the Bonny light fell more than 50 per cent from about $110 per barrel in June 2014. To below $50/bbl today.
In a message to the pre-conference of the Nigerian Association of Petroleum Explorationists, NAPE in Lagos, Kachikwu noted that in 2014 bonny light fetched more than $2 a barrel more than the global benchmark, Brent crude, according to OPEC data.
He disclosed that this year, that premium has plunged to 74 cents, on average-the lowest in a decade.
Some attribute the fall in the value of oil to an unforeseen strength of the US shale market and other alternatives, others blame the surging export from Saudi Arabia.
Kachikwu said that this decline showed no sign of reaching the bottom just yet in the volatile global market. He remarked that for four years, up to June 2014, oil prices had remained consistently above the $100/bbl mark.
Kachikwu maintained that Ali Bin Ibrahim A;l-Naimi viewed as the optimum price to balance the market between crude oil price producers and consumers.
He said while growth in global demand has been subdued in recent years, supply-mainly from non-OPEC producing countries-has increased leading to a surplus of oil in the market.
The GMD said in a recent analysis, Citibank estimated that supply was exceeding demand by 700,000 barrels per day. “This resulted in a build-up of oil inventories.
For example crude oil production in the United States has increased significantly in recent years; the country produced nine million bpd in 2014 compared with five million barrels in 2008
“This has been possible because of years of historically high and stable crude oil prices made shale oil projects mainly in North Dakota and Texas-economically viable.”, he added.
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Glo empowers subscribers with Twin Bash promo

Mobile network operator, Globacom has added more benefits to its data subscribers as it offered as much as four times the value of data they subscribed to and also give them free double airtime to call any network.
The new offer, Twin Bash, which was announced in Lagos by the company’s Executive Director, Legal Services, Mrs Gladys Talabi, offers subscribers that recharge their mobile phone with N200, a 200MB of data worth N800, as well as another N200 airtime to call or send text message to any network.
This is in addition to N200 airtime to call 10 friends and family members. Also the subscriber will get N1, 200 values for data recharge of N200 that is valid for four days.
Talabi also explained that a subscriber, who recharges with N500 data plan, will get 500MB of data, N500 airtime to call or text message to any network and N500 airtime to call 10 friends and family,” she said, adding that this is valid for 10 days.”
She further that henceforth, “every subscriber who recharges with N1, 000 for data will get 1.2 GB of data and not 1GB as it was before now”.
She added that the subscriber will also receive N1, 000 free airtime to call or send text message to any network as well as N1000 free airtime to call 10 friends and family, which will be valid for 15 days.
Also, for a N2, 000 data plan, the subscriber will enjoy 2 GB of data with N2, 000 airtime bonuses to call or send text message to any network and another N2, 000 free airtime to call 10 friends and family adding that this package is valid for 30 days.
With the Twin Bash promo, Globacom has taken subscriber’s data enjoyment on the company’s network to a new height by adding bonus airtime for voice calls to every new data recharge. “It is the novel and quintessential mobile package.
You pay for data and get voice and text message free,” she noted. She explained that the company has invested enormously on network upgrade in the last one year, adding that this has led to significant improvement in the quality of voice and data service.
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Wednesday

PRESIDENT BUHARI CUTS MINISTRIES TO 24


The President, however approved their deployment to the following ministries and1. Dr. Shehu Ahmad – Fed. Min. of Agric & Rural Development2. Arch Sunday Echono – Fed. Min. of Communications3. Alh. Sabiu Zakari – Fed. Min. of Transportation4. Mrs. Ayotunde Adesugba – Fed. Min. of Information & Culture5. Amb. Danjuma Sheni – Fed. Min. of Defence6. Dr. Shade Yemi-Esan – Fed. Min. of Education7. Mrs. Fatima Mede – Budget & National Planning8. Alh. Mahmoud Isa Dutse – Fed. Min. of Finance9. Amb. Bulus Lolo – Fed. Min of Foreign Affairs10. Dr. Amina Shamaki – Fed. Min. of Health11. Mr. Aliyu Bisalla -Fed. Min. of Industry, Trade & Investment12. Mr. Bassey Akpanyung – Fed. Min. of Internal Affairs13. Mr. Taiwo Abidogun – Fed. Ministry of Justice14. Dr. Habiba Lawal – Fed. Min. of Science & Tech.15. Dr. Clement Illoh – Fed. Min. of Labour & Productivity16. Dr. Jamila Shu’ara – Fed. Min of Petroleum Resources17. Mrs. Binta Bello – Fed. Min of Women Affairs18. Dr. Babatope Ajakaiye – Federal Capital Territory19. Mrs. Rabi Jimeta – Fed. Min. of Water Resources20. Dr. Bukar Hassan – Fed. Min of Environment21. Mrs. Wakama B. Asifieka – Fed. Min. of Niger Delta Affairs22. Mr. Istifanus Fuktur – Fed. Min. of Solid Minerals23. Mr. Christian Ohaa – Fed. Min of Youth & Sports24. Engr. A.G. Magaji – Fed. Min. of Works & Housing25. Mr. Louis Edozien – Fed. Min. of Power26. Mr. Jalal Arabi – State House27. Mr. Mohammed Bukar – General Services Office, OSGF28. Mr. Abbas Mohammed – Ecological Fund Office, OSGF29. Dr. Ugo Roy – Council Secretariat30. Mr. Aminu Nabegu – Special Services Office, OSGF31. Amb. Bamgbose Akindele – Political Affairs Office, OSGF32. Mr. Alo Williams Nwankwo – Economic Affairs Office, OSGF33. Mrs. Obiageli Nwokedi – Special Duties Office, OSGF34. Mr. Innocent Ogbonnaya -Career Management Office, OHCSF35. Mr. S.K.Y. Adelakun – Common Services Office, OHCSF36. Mrs. N. Batagarawa – Service Policy & Strategies Office, OHCSF
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Monday

Farmers told to access CBN intervention fund

The All Farmers Association of Nigeria (AFAN) in Lagos on Friday advised members to develop agri-business proposals to access the N200 billion Central Bank of Nigeria’s (CBN) intervention fund.
Mr Femi Oke, the State Chairman of the association, gave the advice in an interview with NAN in Lagos.
He said that members needed to develop agri-business in order to take advantage of the CBN fund.
NAN recalls that the CBN, in collaboration with the Federal Ministry of Agriculture, introduced the Commercial Agriculture Credit Guarantee Scheme (CACS) in 2009 to finance agriculture value chain.
The value chain begins from input supply to cultivation and finally to marketing.
The CACS was originally introduced to fast-track the development of the economy through credit facilities at a single digit interest rate.
Oke said that the fund has been available but that farmers and agribusiness owners were not utilising it.
He said that the fund was an avenue for farmers to develop their productivity through the use of modern technologies.

“We are happy with the intervention fund by the CBN being disbursed through commercial banks.
“Although the fund has been in existence, but farmers are not taking advantage of it.
“All they need to do is forward a credible business proposal through any commercial bank.
“The fund repayment plan is at a single digit interest rate which is very good because farmers cannot deal with double digit interest rate,” Oke said.
The chairman, however, called on the Federal Government to advise commercial banks to desist from collecting/making other charges, which discourage farmers from accessing the fund.
He alleged that the banks were making the process too difficult for farmers thereby scaring them away.
NAN reports that a farmer is entitled to N5million and above.
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Ben Carson goes hip hop for Black voters

Carson, the lone African-American in the 2016 presidential race, unveiled the 60-second spot, titled “Freedom,” on Thursday, a day before it was scheduled to begin airing in eight markets — Atlanta, Detroit, Houston, Miami, Birmingham, Ala., Jackson, Miss., Little Rock and Memphis — at a cost of $150,000, according to ABC News.
Ben Carson Photo: AFP
Carson’s campaign enlisted a rapper, Aspiring Mogul, for the ad in the hopes of reaching young African-American voters “in a language that they prefer” and “in a cultural format that they appreciate.”
“Reaching them on a level they appreciate and follow, and see if we can attract their consciousness about the election,” Doug Watts, Carson campaign spokesman, told ABC. “They need to get involved and express their voice through their vote.”
Listen to Carson’s rap ad:
“This happens to be a group that we feel pretty strongly is ready and prepared to start working for Ben Carson,” Watts added.
The ad mixes audio from a stump speech by the soft-spoken retired neurosurgeon with Mogul’s get-out-the-vote rhymes.
“Vote and support Ben Carson, for our next president, it’d be awesome,“ Mogul sings. “If we want to get America back on track, we gotta vote Ben Carson as a matter of fact.”
On Twitter, the reviews of Carson’s rap ad weren’t exactly kind.
Carson, the current Republican frontrunner, is not the only GOP candidate turning to radio at this stage in the campaign.
Donald Trump spent $300,000 on radio ads that are slated to run in Iowa, New Hampshire and South Carolina in the next several weeks.
The real estate mogul unveiled two of them on MSNBC’s Morning Joe Thursday. Sadly, neither of Trump’s ads feature rap.
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BET brings Hit Urban Lifestyle Festival to Africa

Come 12 December, the spectacular global celebration of urban culture, music and lifestyle, from entertainment channel BET will be making its African debut.
Dubbed, BET Experience Africa, the inaugural event will bring together lovers of urban culture and music, that would be treated to an all day long, non-stop entertainment fest at the Ticketpro Dome, Johannesburg, South Africa.
American R&B Superstar Maxwell has been announced as the headline act at the BET Experience Africa where there will be a showcase of great food, fashion, music, comedy, dance, sport and much, much more.
Alex Okosi, Senior Vice President & Managing Director, Viacom International Media Networks (VIMN) Africa, said both VIMN Africa and BET are proud to introduce the incredibly successful BET franchise to African audiences for the first time.
“We are proud introducing BET Experience to African audience. It will be a celebration of so many rich and varied faces of the urban lifestyle experience under one roof,” Okosi said.
Inspiring, immersive and hugely entertaining, BET Experience Africa will feature stunning live performance on a central Sound Stage, while stand-up routines from comedy stars will keep the audience laughing.
From the court-side seat, the fun-packed Celebrity Basketball Game wil have top celebrities battle each other for sporting supremacy.
Fashionistas will revel in the Fashion & Beauty catwalk, while checking out the hottest trends on the Sneaker scene. For inspiration, there will be BET’s informative and instructive Genius Talks, curated by experts and opinion formers in various fields.
The day will be rounded off with the BET Experience Concert, with superstar artists headlined by Grammy Award winning Maxwell, alongside other international and African performers.
Further talent taking part in BET Experience Africa will be announced at a later date.
BET Experience Africa is promoted in partnership with Glen 21 and inspired by the BET Experience, held annually in Los Angeles.
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Family rolls out plans to immortalise Ayinde Barrister

The children of the late fuji maestro, Dr. Sikiru Ayinde Barrister, have concluded plans to immortalise their father by establishing a foundation, a museum and launch of his biography.
They also condemned in strong terms insinuations that the children are divided over their father’s property.
The family made this known to newsmen at a press conference on the activities outlined for the 5th year remembrance of the late fuji musician.
Late Dr. Sikiru Ayinde Barrister.
Speaking at the conference, their spokesperson, Sulaiman Balogun, emphasised that the children of the deceased are well to do and need not depend on the wealth of their late father to the extent of causing a rift among them.
“My father showed us money, but he always encouraged us to work hard for our own. By this, none of his children depended on his wealth, and we are all comfortable, he taught us not to rely on his wealth and be self reliant.
“More importantly, his name alone open doors for us, when we mention the name, doors open for us and we have no reason to fight anything, he left a will which is his name that open doors to us.”
Balogun also reiterated that, plans have been formalised to immortalise Ayinde Barrister, and part of the plan is the launch of an autobiography of their late father of fuji music, adding that, they will also turn the fuji chamber to a museum where his fans and lovers can come to see some of his works. 
“Since his demise on the 16 December. 2010 in London, fans in collanoration with family have continued to organise programmes and events such as Barrybration, visits to the homeless, Ramadan lectures to remember him. 
“But this year, on the 16 December, which makes it five years since he passed on, this year shall be remarkable to celebrate the progenitor of fuji music. On the 17, we shall have the launch of the most comprehensive biography of Barrister. 
“This biography will bring to the fore the very important information and exclusive details of the life and times and eventual death of Barrister. 
“The family has made available necessary information, materials and photograph to Mr Akin Akinteye, the author for the right of compilation and authorship of the most comprehensive biography of the music legend.”
He also disclosed that a foundation to cater for the less privileged in the society, will be set up because that is wish of the Barrister. 
Flanked at the event by his siblings, Al Maroof, Samsideen and the author of the book, Akin Akinteye, Balogun said there will also be a music concert which will be the gathering of frontline fuji musicians and hip hop artistes.

The family promised to reach out to all including all the fan club, and other fathers of fuji music, noting that, invites will be sent soon to them.
Akin Akinteye, author of the book while explaining the motivation behind writing it said, he has always been a fan of Barry, since he was 10.
He said Barry celebrated culture, morals and tradition through his music and that is was what motivated him to write the book.

In the same vein, the Ekerin of Isolo Kingdom, High Chief Surakat Lawal described the late fuji icon as an institution that should be celebrated for his moral conduct and philanthropic gesture to the less privileged.
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