Why poverty rate increased in Nigeria — Lai Mohammed

Federal Government has said that no amount of blackmail will make it to surrender the ongoing war against corruption.
This is even as it said that Nigeria poverty rate has increased by the same proportion with annual budget since 1999 because the appropriated funds have mostly ended up in the pockets of few looters.
The Minister of Information and Culture, Alh. Lai Mohammed stated this on Tuesday during his meeting with Abuja Bureau Chiefs in Abuja.
He said that no amount of attacks will deter the administration from prosecuting the war against corruption in its efforts to save the country from collapse, insisting that the Federal Government will not be cowed or distracted on the ongoing fight against corruption.
‘‘ The pseudo-analysts and hack writers will labour in vain in their quest to stop the train of this anti-corruption fight,” the Minister said.
”When I met with the News and Political Editors in Lagos on Sunday, I said, among other things, that the government is aware that in fighting corruption, corruption will also fight back. I also said that those who stole us dry are powerful. They have newspapers, radio and television stations as well as online platforms, and an army of supporters to continuously deride the government’s war against corruption.
”Well, I can tell you today that corruption is already fighting back, and it is fighting hard and dirty. Sponsored articles have started appearing in the newspapers and in the Social Media, while ‘Talking Heads’ have started making the rounds in the electronic media, all deriding the fight against corruption as well as this Administration.
”Not stopping there, they have been creating distractions by sponsoring articles in both local and international media to deride the administration’s policies generally, tag the President a budding dictator and even write off his 2016 budget. We know that the sole purpose of these attacks is to distract attention from the war on corruption,” he said.
‘‘The cost of corruption is evidenced in the rate poverty in the country. Whereas Nigeria’s national budget has increased from just over 900 billion Naira in 1999 to over 6 trillion Naira in 2016, poverty has also increased almost by the same proportion. The reason is not far fetched: Appropriated funds have mostly ended up in the pockets of a few looters.
‘‘When the money meant to construct roads are looted, the end result is that the roads are not built and the people suffer and even die in avoidable road accidents. When the money meant to provide electricity is looted, we all are perpetually sentenced to darkness. When the money meant for healthcare is pocketed by a few, we are unable to reduce maternal and infant mortality.
‘‘These are the costs of corruption. Let us not just talk about corruption in the abstract, let us be counting its cost to our lives, in order to drive home the point that corruption must be tackled decisively for Nigerians to feel the impact of governance.
The Minister said it was saddening that some otherwise credible voices have unwittingly allowed themselves to be railroaded into the bandwagon of pro-corruption orchestra”, while some ”hack writers” are struggling to whittle down the impact of the anti-corruption campaign.
He sensed that though sponsored attacks may not stop, and that they will become more intense and more coordinated in the days ahead, he expressed optimism that ‘‘the good news is that we are winning the war. Nigerians are now talking more about corruption. Nigerians are now counting the cost of corruption to their lives.”
‘Even one of those who benefitted from the ‘Dasukigate’ had the temerity to deride the anti-corruption war as ‘selective’, ”when in saner climes, he should have been so ashamed of himself that he would have apologized to the nation and hunkered down for good”.
Mohammed charged Nigerians not to be swayed by the antics of the sponsored denunciation of the anti-graft war, warning that ”the treasury looters, who have so much resources in their kitty, and their cohorts will throw everything but the kitchen sink at this Administration. But we have no doubt that Nigerians are discerning enough to know the truth which, in the words of President Muhammadu Buhari, is that unless Nigeria kills corruption, corruption will kill Nigeria.”
”Recall that in the so-called Dasukigate, 2.1 billion dollars meant for the fight against Boko Haram was diverted to other uses, including over 4 billion Naira for spiritual purposes, 13 billion Naira for Maritime University land, 2.1 billion Naira for publicity and hundreds of millions of Naira for political patronage.
”That explains why we lost many soldiers to the fight against Boko Haram, which in turn created many widows and orphans, in addition to pushing millions of Nigerians from their communities into IDP camps. This explains why the war dragged on for years until President Buhari assumed office and, within just seven months, strengthened the capacity of the military to decimate Boko Haram,” he added.

Enough of this change mantra Okogie tells Buhari

The Archbishop Emeritus of the Catholic Archdiocese of Lagos, Anthony Car­dinal Olubunmi Okogie, yesterday, urged President Muhammadu Buhari, to re­tool and lead by example on all fronts or risk plunging Nigeria into a state of despondency.
In a statement by the Director of Social Com­munications of the Diocese, Monsig­nor Gabriel Osu, Okogie accused the pres­ident of acting disdainfully towards the judicial authorities while millions of Nigerians are abandoned to face unimaginable social problems.

Buhari-Okogie

Okogie said, “He (Buhari) must retool, re­focus and aggressively face the so­cial, economic (fiscal and monetary) problems we have head-on, without letting the anti-corruption drive look like a political distraction.
“A snail-paced and disordered methodology in governance, his ap­parent disdain for judicial authorities and decisions, a lost today and found tomorrow 2016 Budget debacle, and a rather rudderless and confused Central Bank of Nigeria (CBN) with an unclear monetary policy strategy (inevitably increasing the economic uncertainties being faced by Nigeri­ans), have set alarm bells ringing in my mind and in the minds of many discerning Nigerians.
“Indeed, his perceived discord­ant relationship with the leadership of the Legislature has many naysayers chuckling and remarking that Pres­ident Buhari’s government is head­ing into his comfort zone, a one man show.”
Okogie also noted that “a lot of Nigerians are beginning to feel that Buhari is fast transforming this na­tion into a police state where the president, the Economic and Finan­cial Crimes Commission (EFCC) and the Department of State Secu­rity (DSS) rule the day.
“What they say is given lurid headlines in the me­dia, and it seems to all that some of the defendants cum accused persons are being tried in the press with in­formation conveniently slipping into the hands of the press, presumably from the security agencies, even be­fore such people have been charged to court.”
Frowning at the President’s refusal to heed the court pronouncements on the bail grant­ed to the Director of Radio Biafra and Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu and former National Security Adviser (NSA), Col. Sam­bo Dasuki (retd) the eminent cleric said: “The pro-Biafran activ­ist, Nnamdi Kanu and the erstwhile NSA, Sambo Dasuki, were granted bail by the courts but such bails were disregarded by the security agents under Buhari’s watch.
“Unfortunately, democracy is difficult and this government must realise that democracy pervasive­ly coloured with impunity, arbitrar­iness and highhandedness, cannot be used to fight and correct the finan­cial impunity and reckless abandon of the previous administration, even if it is more difficult to do so; the rule of law must be obeyed and be the or­der of the day.
“If Buhari wants to leave a cred­itable legacy come 2019, he should retool the bureaucracy. For instance, the roof of the Central Bank is leak­ing water.
“Governors, who arm-twisted Okonjo-Iweala into signing out our reserves held by Central Bank, are today ministers in the All Progres­sives Congress (APC) government.
“We are still talking about change and corruption when old things refuse to pass away! These political gimmicks can only car­ry away gullible or naive Nigeri­ans. President Buhari should beam his flashlight on policies and pro­grammes that will lift up the masses.
“Existing industries are almost dead and they call for urgent revital­isation. The budget ought to aid so­lutions to the mass unemployment, rural-urban migration, skewedness in the distribution of income, abject rural poverty and industrialisation of rural economy.
“The 774 local government cap­itals should be linked to their state capitals. Even the mindboggling in­frastructure deficits can take the en­tire tenure to address.”
“The weakness in the bureau­cracy has not been addressed. The problem the APC government is trying to solve is bound to re-occur because it is treatment of effect rath­er than the cause,” he said, adding that causative factors are being to­tally ignored or glossed-over while institutional weakness pervades the Ministries Departments and Agen­cies (MDAs), offices of the Account­ant-General, Auditor-General and the Central Bank.”
Irked by the continuous change mantra, Cardinal Okogie said: “Our Change must change something. How could we continue to talk of change in a static system? How could we be talking of change when the same crew are governors, ministers, senators, and members of the House of Representatives? This is a cyclical devolution of power to the same people who are never out of power!
“What sort of change is the Pres­ident talking about? When will the youth take over when even a gov­ernor does not take a bow and go? When shall we plan for the replace­ment of delinquent leadership? This is what constitutes change. Change is not changing from Jonathan to Buhari.”
Continuing, he said: “Change is be­havioural and pervades all levels of society including the family, the church, the mosque, schools, market women and business men. When we talk of change, we talk of positive-salutary, healthy growth and devel­opment oriented change that cuts across the entire gamut of the so­ciety.
“What sort of change is this that ignores the glaring unequal distribu­tion of national income? It is absurd that the same government that is un­able to pay N18,000 per month to the lowest grade of labour can afford to pay N1.8 million per month to anyone in the economy. Why must tax payers’ money be used to feed Mr. President and his family?
“Why must the tax payers’ mon­ey be used to buy brand new exotic vehicles for the legislature, judges, ministers and governors when they are heavily paid?
“Why don’t they use loan finance or mortgage finance to buy their cars and houses? This is also a form of looting and it is the cause of grounding the economy and calling in an IMF spin-doctor all the time.
“Precisely two years ago this same President Buhari rejected off-hand this use of a spin doctor to heal the ailing economy. He pre­ferred the use of counter-trade and inward looking policies like cutting down costs and flamboyant exotic life styles.
“Today, I am not so sure we have the same Buhari. I do hope he has not changed all the colours of the rainbow. The ruling elites are living a luxurious lifestyle while the mass­es are in abject poverty and yet we are all Nigerians. Enough of this change-conundrum,” Okogie warned.

Blackface threatens to drag 2face to court for stealing his song

Former member of ‘Plantashun Boi’, Ahmedu Augustine, popularly known as Blackface, has threatened to drag his former friend and multi-award winning artiste, Innocent Idibia (2face) to court for allegedly stealing his song.
Blackface accused 2face of stealing “Let Somebody Love You”.  2face released the song with Bridget Kelly,  an American singer and songwriter from New York City,  as part of his Ascension album in 2014.
On Monday, Blackface took to social media to make the allegation.
“You singing #LetsomebodyLoveYou without telling me when you know its my song isn’t going down without the world knowing what you and you manager efe been doing …am coming for una,don’t get it twisted”
“Since you decided to hide you know I still let you know a piece of my mind @official2baba and well meet in court about my publishing”
“Suddenly your manager @EfeOmorogbe is a song writer on my song? So you can split publishing 4ways with Bridget Kelly?with my name misspelt?”
“y not ask dat u wana record my song?I was out in d wilderness n u never called becos u wish me dead so my properties be urs? @official2baba”
Plantashun Boiz were a Nigerian hiphop and RnB music group. It consisted of 2face Idibia, Faze and Blackface.
The group was formed during their college years in Enugu, at the Institute Of Management And Technology (I.M.T Enugu). The group was managed by Owoyemi Akinwale Nathaniel (Natz), Ifeanyi Oji (Odogwu), and Obasi Leonard (Baba Leo). As a result of the Plan B reunion album, Plantashun Entertainment Ltd. Management was born in 2007. The Plan B album was distributed by T Joe.
The band released two successful albums Body and Soul in 2000 and Sold Out in 2003. The band broke up in 2004, to be briefly reunited in 2007 for just one more album Plan B.
After the Plantashun Boiz split up in 2004, Blackface led a solo musical career. He released the hip hop album Ghetto Child in May 2004 collaborating with a number of artists. The album contains “Hard Life” featuring Alabai as the first single. He also recorded a full album for his crew D Tribunal called What We Are.
After Ghetto Child, he released Evergreen, Jungle Fever, Me, Musiq and I, Dancehall Business and the prospective Defender. In 2013, he made a collaborative album 200 with Maine Eazz.
2face Idibia released his debut solo album Face 2 Face (2004), which established him as a viable solo artist.
Following the release of his debut album, he released his second album Grass 2 Grace in 2006, which contained hits “One Love”, “True Love, “4 Instance”. He is the founder of Hypertek Entertainment.
In 2006, his song “African Queen” was used in the soundtrack for the film Phat Girlz, which was released internationally.
He released a promotion album in 2008 called The Unstoppable releasing the single “Enter the Place”. Problems with album distribution in 2007 caused as shift of the release date of the album from 2008 to early 2009. In 2010, 2face released an “international edition” of the same under the title The Unstoppable International Edition making him the first Nigerian artist to have an appropriately priced international album.
2face released two more singles from the international version of his Unstoppable album. The international edition of the album won two awards at the 2010 SoundCity Music Video Awards. He also won the Channel O Music Video Awards Best African Western award and the MTV Africa Music Awards for Best Male and Artist of the year.

Oil crash: Nigeria producing at $5 per barrel loss

Oil theft more dangerous than price slide —Producers

As oil prices continue on the downward slide, Nigerian oil firms may be producing at up to $5/barrel loss, as average production costs for independent and marginal field producers is between $30 and $35/barrel.
Oil prices, yesterday, resumed their free fall, with Brent crude, similar to Nigeria’s sweet crude grade, falling 2.6 per cent to $31.34 a barrel following a 10 per cent rise on Friday, while U.S. oil shed 95 cents to $31.24.

File Photo: Crude Oil

To compound the producers’ woes, a significant proportion of what is produced is lost to oil thieves and pipeline vandals, which they insist are even more dangerous than the bearish run oil prices
Industry chiefs, who spoke exclusively with Vanguard on phone, argued that the turbulence in the international oil market deserves urgent attention.
Specifically, they insisted that the Federal Government needs to be talking with Nigerian producers very fast, if it must save indigenous companies from running aground and plunging the economy into deeper crisis than it is in already.
Impact on producers
Speaking on the impact of the oil crash on the producers, Chairman, Petroleum Technology Association of Nigeria, PETAN, Mr. Emeka Ene, said:
“Current price is below Nigeria’s average of between $30 and $35 per barrel. Most marginal field producers are producing above $30/barrel, and with pipeline vandalism activities, costs will shoot up by another $10/barrel, so oil production now is not sustainable.”
Ene, who spoke against the backdrop of oil crashing to 13-year lows of below $28/barrel last week, noted that the bearish run may soon fizzle out, whether shale or conventional oil is being produced at above $25/barrel. As such, the southward run is not favourable to any producer.
He also revealed that “a lot of Nigerian companies are out of work because they cannot compete with the multinationals, so government needs to have a serious talk with stakeholders in the industry.”
Oil theft, pipeline vandalism
Whether oil prices go bullish soon or not, other stakeholders feel that the benefits of the rise will be lost on Nigeria, if the government does not deal decisively with the twin incidence of pipeline vandalism and oil theft.
The President, Nigerian Association of Petroleum Explorationists, NAPE, Mr. Nosa Omorodion, maintained that “government needs to address the issue of oil theft and pipeline vandalism very fast because, even if price stabilises tomorrow or whenever, we will still not be able to reap the full benefits of that rise.”
He further argued that “oil theft and vandalism remain recurring and very worrisome because these issues are much bigger than oil slide, which is mostly driven by speculation, while these activities affect planning and are more cankerous than price slide. Operators are risking their assets including human resources to produce the oil, only to have it stolen thereafter.”
Against this backdrop, Omorodion, whose association is responsible for finding and producing oil, revealed that NAPE is planning a national seminar this month end to holistically address the issue of oil slide.
He said: “We are going to assess the length and breadth of the oil and gas industry because the price slide is not only affecting petroleum, but also other sectors of the economy.”
Apart from the impact on cost of production, the NAPE boss noted that “The current price is affecting so many things, as nobody is drilling for exploration now, and no one is thinking about fancy technology to boost production. Also, exploration will suffer as no company is exploring for new wells to grow reserves, and many small scale producers, which are mostly Nigerians, will shut down.”
Going forward
Currently, most producers, both OPEC and non-OPEC including the U.S., Saudi Arabia, Russia, Iraq and a host of others are producing at optimal capacities, which indicates that the downward glide may not let up soon. Also, some analysts have predicted that price may glide to below $20 or even $10/per barrel before rebounding.
Furthermore, with Iran’s oil also up in the market and expected to be ramped up systematically, compounded by the melt down in demand being fueled by the crisis in China, crude prices are facing more pressures. But producers recognise that the global economy is in need of some succour but differ on the best ways to go about it.
Noting that Nigerian service companies, who are the hardest hit by the crashing oil prices and provide about 650 value services across the industry, Ene insisted that Nigeria has the weapon in these companies to cushion the market turbulence but has not fully appreciated it.
According to him, “Nigeria has a thriving local oil industry, and if properly supported, can push down cost of production to $10 per barrel. About 10 to 15 years ago, industry cost was below $10 per barrel and nothing much had changed.
On his part, Omorodion believes that now is the time for oil companies to be at the most cost efficient by prioritising between wants and needs, while government becomes more fiscally disciplined and diversifying the economy.
But Ene argued that the solution is not in prescriptivism, like the majors calling for as much as 40 percent cuts in cost of services thereby killing off the companies, adding that government needs to identify and reduce unrealistic economic toll gates.
In his opinion, “The whole system is heated up, and cost of borrowing is very high. So far, conversation has been restricted to major operators and has not included the service companies driving operations in the industry.
“If we must produce oil at $10/barrel, government needs to be talking to Nigerian companies, who have invested in people and technology and are not repatriating their profits.”
Furthermore, he noted that a lot of the systemic costs being borne by indigenous firms contribute to the high cost of production, such as what he described as “Federal Government agents charging unrealistic charges like asking for $10million for permits need to be looked into.”

How Nigeria Can Survive Without Oil

Governor Abdulfatah Ahmed of Kwara State has said Nigeria can survive without oil if most Nigerians could transform agricultural practices into agric-business.
Gov. Ahmed
The governor disclosed this through his Chief Press Secretary, Abdulwahab Oba at a lecture organised by the Arewa Consultative Forum, titled, “Northern Nigeria economy free of oil revenue.”
The governor said the practice of agric-business be focused on value addition to develop the economy and provide jobs.
He stressed that for this to be possible, the demand-driven approach which would allow farmers know the markets available for their produce be introduced.
Ahmed highlighted the benefits of agric-business, saying the pursuit of an agriculture-based economy should be premised on good governance and growth of the right institutions.
He said, “On-going agitation for resource control and allocation and the consequent clamour for fiscal federalism demonstrate the need to free our region’s economy from oil revenue.
“Additionally, northern Nigeria’s immense agricultural resources strongly recommend a revival of the agro-based wealth that the region once enjoyed.”
The governor warned that agribusiness should not be implemented in the centralised and ad-hoc manner that commercial agricultural policies had been executed in the past.
Suggesting that Northern states employ a holistic measure in revolutionising agriculture, he said, “I propose an approach that fully explores specified value chains by providing inputs to farmers and connecting them to consumers through the financing, handling, processing, storage, transportation, marketing and distribution of agro products.”
In his remarks, the Governor of Kaduna State, Alhaji Muktar Yero, called for unity among the 19 Northern States governors and elders in the region.
He stressed the need for the improved economic relations among the states in the northern part of the country based on their historical antecedents.

How Nigeria can survive current economic challenges – Okupe

Former Senior Special Assistant to ex-President Goodluck Jonathan on Public Affairs, Dr, Doyin Okupe, on Tuesday, advised the President Muhammadu Buhari-led Federal Government to increase Nigeria’s Value Added Tax (VAT) to 15 per cent, following the fall in the price of crude oil.
Okupe, however noted that for this increment to happen, FG must apply justice and equity, where each state of the federation must benefit only from its own contribution.

Okupe

Okupe who took to his Facebook page said: “I am always amazed when people including very knowledgeable and highly placed persons speak of diversification of the Nigerian Economy whenever there is a threat of fall in revenue from crude oil sales as it is presently.
“For the avoidance of doubt the Nigerian economy has hither to been significantly diversified to a commendable level. About a decade ago the contribution of revenue from sale of crude to Gross Domestic Product (GDP) was in excess of 60 per cent while its contribution to National income was well over 90 per cent.
“However by January 2015, the contribution of revenue from crude to National income has come as low as 68 per cent, while that to GDP was less than 20 per cent. This is the truest incontrovertible evidence of the fact that the economy has been substantially diversified.
“This truth is evinced by the fact that the total income from crude sale was about $73billion. (2million barrels×365×$100/barrel). With a revised GDP of $500 billion, the actual contribution is approximately 15 per cent. Diversification does not directly increase government income proportionately as does direct income from sale of crude oil.”
VAT increment
Continuing, he said, “Since governments worldwide do not do business, increase in government income or revenue can only come from taxation,
Royalties,Bonds,licenses and sale of assets.  In our present situation, therefore, while we must continue to encourage growth of the real sectors of the economy, government must pay serious and special attention to maximising efforts at tax collection. The The Internal Revenue Service (IRS) collected over N4 trillion in 2015. Many believe this is just about 60 per cent of what is due.
“We may also in view of current realities, need to actually increase our Value Added Tax (VAT) to 15 per cent. But here, justice and equity must apply. Each state of the federation must benefit only from its own contribution. That is if N100 billion is collected from Kano, it stays in Kano and 50 per cent is remitted by Kano state to the federation account.”
“Our country is blessed with great human resource. We now need to invest in human development programmes, encourage entrepreneurship and encourage small and big businesses to pay correct and due taxes. Nigeria can and will survive in spite of current economic challenges,” Okupe advised.
He called on government to pay serious and special attention to maximizing efforts at tax collection.
Dr. Okupe, in a post on his Facebook wall, said the government made N4 trillion from tax through the Federal Inland Revenue Services.
“In our present situation therefore, while we must continue to encourage growth of the real sectors of the economy, government must pay serious and special attention to maximizing efforts at tax collection.
“The FIRS collected over N4trillion in 2015. Many believe this is just about 60 per cent of what is due. We may also in view of current realities, need to actually increase our VAT to 15 per cent.
“But here justice and equity must apply. Each state of the federation must benefit only from its own contribution. That is if N100billion is collected from Kano, it stays in Kano and 50 per cent is remitted by Kano state to the federation account,” he said.
He explained that Nigeria’s economy had always been diversified in his post.
Okupe argued that diversification does not directly increase government income proportionately as does direct income from sale of crude oil.
According to him, since governments worldwide do not do business, increase in government income or revenue can only come from taxation, royalties, bonds, licenses and sale of assets.
“I am always amazed when people including very knowledgeable and highly placed persons speak of diversification of the Nigerian economy whenever there is a threat of fall in revenue from crude oil sales as it is presently.
“For the avoidance of doubt the Nigerian economy has hither to been significantly diversified to a commendable level.
“About a decade ago, the contribution of revenue from sale of crude to GDP was in excess of 60 per cent, while its contribution to National income was well over 90 per cent,” he stated.

Nigeria to earn N3trn annually from Maritime Security Agency — DG

ABUJA — THE Director- General of the proposed Maritime Security Agency, Mr. Jacob Ovweghre, weekend, lamented the huge amount the country is losing daily to pipeline vandalism and crude oil theft, stating that the passage of its bill currently before the National Assembly would help boost Nigeria’s revenue by N3.1 trillion annually.
 

Ovweghre, who addressed newsmen in Abuja, further said once it gets the necessary legal backing, issues of pipeline vandalism and fuel scarcity would reduce drastically,  while fuel price might drop sharply, as it would deploy all its personnel to oil installations across the country to safeguard the assets from acts of sabotage.
He said the agency, which would be self-financing, would help address the issue of unemployment, as it would create an avenue for over three million youths to be gainfully employed.
He said presently, Maritime Security Agency is operating skeletal services and is involved in intelligence gathering, noting that when its bill is passed, its personnel would be deployed to areas notorious for piracy, pipeline vandalism and crude  oil theft to stem the nefarious activities.
He added that its activities would help assure foreign investors that Nigeria’s territorial waters and the country in general, is safe for investment.
He said: “Maritime security is a complex task the world over. It entails protecting all forms of maritime assets, identification and evaluation of special maritime threats and how to comprehensively manage them.
“To achieve the safety of Nigeria’s maritime industry, government must vigorously and robustly explore collaborative synergy with relevant stakeholders and organisations that possess the requisite expertise to enhance the nation’s maritime security.
“It is on this note that we call on President Muhammadu Buhari, who is reputed to be a listening and responsive president, to as a matter of urgent national importance, grant necessary operational approval to the Maritime Security Agency (MASECA) expressly.”

FG ends kerosene subsidy, pegs price at N83 per litre

ABUJA — The Federal Government, weekend, hiked the price of Household Kerosene (HHK) to N83 per litre from N50 per litre, thereby, officially ending subsidy on the product.
The Petroleum Products Pricing Regulatory Agency, PPPRA , in its product pricing template released, weekend, however, stated that the N83 per litre price applies only to the Nigerian National Petroleum Corporation (NNPC), meaning that other petrol stations and dealers can sell higher than the stipulated amount.
Curiously, the hike in the price of kerosene came at a time when the price of crude oil had dropped to record low, with the price of petroleum products, such as kerosene, fuel and diesel, among others, dropping significantly in a number of countries, like the United States.
This also brings to question, the recent reduction in the price of Premium Motor Spirit announced by the Federal Government and which commenced at the beginning of the year.
Again, the PPPRA’s template also showed that at N83 per litre, the Federal Government is making a gain of N10.72 for every litre, as it puts the Expected Open Market Price, which is the Landing Cost plus Total Margins at N72.28 per litre. The expected open market price is the prevailing open market rate for the product in Nigeria, after taking certain costs into consideration.
Giving a breakdown of the price, the PPPRA template put the Landing Cost of  the product at N57.98 per litre, while the total margin due for middlemen was put at N14.30.

WAITING: Queue for kerosene at a Nigerian National Petroleum Corporation, NNPC, Mega Filling Station in Yelwa, Bauchi State, yesterday.File Photo

Further breakdown of the Total Margins showed that retailers margin was put at N5 per litre; Transporters, N3.05 per litre; Dealers, N1.95 per litre; Bridging fund, N5.85 per litre; Marine Transport Average, N0.15 and Admin  Charges, N0.15.
The PPPRA further put official ex-depot price, which is the price depot owners would sell at marketers, at N68.70 per litre, official ex-depot price for collection, N73 per litre while ex-coastal price is N68.02 per litre.
Late December, the PPPRA had on behalf of the Federal Government announced that effective January 1, 2016, Premium Motor Spirit, otherwise known as petrol, would be sold at N86 per litre by the Nigerian National Petroleum Corporation (NNPC) retail stations, while other oil marketers would sell at N86.50 per litre.
Executive Secretary of the PPPRA, Mr. Farouk Ahmed, who made the announcement, said the reduction in the price of the commodity was due to an implementation of the revised components of the Petroleum Products Pricing Template for PMS and household kerosene.
According to him, the revised template, which would be reviewed on quarterly basis, is geared towards ensuring an efficient and market-driven price that would reflect current realities.
He said: “Since 2007, while crude oil price had been moving up and down, the template remained the same. This had made it necessary for us to introduce a mechanism whereby the template would be sensitive to the price of crude oil.
“However, the template is not static, as there would be a quarterly review and if there is any major shift, the Minister of State for Petroleum Resources would be expected to call for a review, either upward or downward, depending on the market condition.“

Buhari is not Nigeria’s messiah, declares Bishop Kwakpovwe

PUBLISHER of the daily devotional booklet, Our Daily Manna, ODM, Bishop Chris Kwakpovwe has cautioned Nigerians especially those who believe that President Muhammadu Buhari is Nigeria’s messiah, pointing out that God’s promised messiah is yet to come.
The cleric noted that Buhari is the forerunner of the messiah who will bring some changes if only he maintained his integrity and do the right things, just as he condemned recent agitations for a sovereign state of Biafra, saying “Biafra is like thick cloud without water or rain.”

Buhari

The bishop, who is also the General Overseer of Manna Prayer Mountain, made these declarations at an interview session ahead of his ministry’s annual world anointing service scheduled for next Friday at the Tafawa Balewa Square TBS, Lagos. The theme of this year’s programme is: “Jehovah Ebenezer – Lord wipe my tears”.
“President Buhari is not the messiah; he is only preparing the way for the messiah who will eventually emerge. Buhari is like the John the Baptist. As a politician, Buhari will bring about some changes if he maintain his integrity and genuinely probe those he ought to probe,” he stated.
Accprding to the bishop, there are certain persons who assisted the president to get to power who he would not be able to probe even when he knows that they are not innocent.
“The messiah who will genuinely transform our country will emerge. Buhari is not the messiah but we should be hopeful that one day, we will sing a new song,” he stated.
Pledging his unwavering believe in the unity of Nigeria, the cleric argued that the peace the country has enjoyed since after the Nigerian Civil War should not be broken by digging up residues of hate for the selfish interest of certain individuals seeking to balkanize the nation.
He therefore enjoined all the pro-Biafra protesters to tread with caution, sheathe their swords and dialogue with constituted authorities on issues that would bring about unity, peace and progress of the country.
In his words: “There is nothing like Biafra. Biafra is like thick cloud without water or rain. There will be no civil war, our brothers in the South East will enjoy President Muhammadu Buhari. They should just allow peace to reign. Whatever challenges, disagreements that may have re-surfaced, are not beyond our collective ability to resolve.”
On the world anointing night, Bishop Kwakpovwe said the annual programme has attracted millions since its inception 11 years ago, adding that this year’s edition will mark the end of a 21-day fasting and prayer, which began on January 9.
He said: “It is a night of 12 mantles and there will be series of testimonies, instant healing from God because God is going to visit His people. God has promised to wipe all tears and He asked me to tell the people to bring 12 mantles and these mantles are prophetic in nature.”

Matt Dixon: York City sign Hull City midfielder on 18-month deal

League Two side York City have signed Hull City midfielder Matt Dixon on an 18-month deal.

The 21-year-old made his debut for the Tigers in the League Cup first-round tie against Accrington Stanley in August.
 

Dixon was captain of the Championship club's under-21 side.
He could make his debut for the Minstermen, who are bottom of the Football League, in Saturday's match against Newport

Nigerian scientist turned opera star

The journey from scientist to one of the world's most sought-after sopranos is not a common one.

Omo Bello was doing research into genetics in her native Nigeria when in 2006, she was awarded a scholarship to train as an opera singer in Francece.

Five years later she graduated at the top of her class from the prestigious National Conservatory for Music and Dance.
Since then, Ms Bello has carved out a striking reputation on the operatic stage all over the world. Here's her story.

Lee Seung-woo Set for Barca.

The transfer rumour mill is in full flow at Barcelona after the club saw its transfer ban lifted this month, and South Korean starlet Lee Seung-woo is set to see his release clause quadruple following a promotion in the team's ranks.  

Lee is once again free to sign for the club after turning 18 on Wednesday, and according to Spanish daily Mundo Deportivo (h/t ESPN FC's Dermot Corrigan), his release clause could increase from €3 million (£2.2 million) to €12 million (£8.8 million).

The teenager moved to the Camp Nou from Incheon United in 2011 and was noted by Corrigan as one of the players whose arrival led to Barcelona being prevented from registering any new players throughout last year.

Lee was evidently eager to celebrate his landmark birthday after taking to his official Twitter account:

It's suggested the striker, who currently represents Barca's Juvenil A team, could make the move up to Barcelona B, part of the natural evolution in his career that opens up the chance of first-team involvement—and the rise in his clause.

In his first season with Barca's Infantil A, Lee scored 39 goals in 29 games to break a record previously set by club-mate Lionel Messi, leading the MailOnline's Pete Jenson to mention him as the "Korean Messi."