The Trade Union Congress of Nigeria, TUC, has flayed the federal government over the recent cut of 50k in the pump price of fuel, stressing that the margin was not justifiable given the fall in the price of crude oil in the international market.
The TUC president, Bobboi Kaigama, and Secretary-General, Barrister Musa Lawal, said in a statement in Lagos on Wednesday that the appropriate deed for the Buhari’s government was to have reduced the price of fuel by 40 per cent.
It said: “Considering the drastic fall in the price of crude in the international market, we expected that the pump price of fuel would be reduced by, at least, 40 per cent.
“It is most disappointing that the government reduced the price by just N1 and 50k at filling stations respectively owned by the Nigerian National Petroleum Corporation (NNPC) and the independent marketers”.
Nigeria is set to become a major exporter of fertilizer in the first quarter of 2016 when Indorama’s brand new fertilizer plant begins production.
The Indorama fertilizer project is the world’s largest gas-based single stream urea plant being built in Eleme, Rivers State, by the Indorama Eleme Fertilizer and Chemicals Limited (IEFCL), a sister company of the Indorama Eleme Petrochemicals Ltd. (IEPL).
The company, in its in-house magazine, Impact, disclosed that several critical sections of the plant are going through various stages of commissioning and test-run leading to the plant’s inauguration in 90 days’ time.
An 84km gas pipeline to supply the Natural Gas Liquid (NGL) feedstock and a port terminal at Onne Port Complex are also being completed to complement the fertilizer project.
The Bauchi State Governor Mohammed Abdullahi Abubakar of Bauchi presented a budget proposal of N135. 3billion for the 2016 fiscal year to the State House of Assembly.
The Governor, while presenting the budget proposal to the Bauchi State House of Assembly complex on Wednesday, January 6, said the budget was made up of N65, 498, 008, 456 as recurrent expenditure, and N69, 805, 091, 554 as capital expenditure.
He gave a recurrent estimate of the budget as N67, 136, 820, 593 for recurrent revenue.
According the Governor, the estimate of the budget is made up of Internally Generated Revenue of N9, 998, 136, 773 and statutory allocation of N57, 138, 683, 820.
Governor Abubakar also gave the budget’s recurrent expenditure of a total sum of N65, 498, 008, 456 comprising of personnel cost of N25, 182, 118, 675; Overhead cost N23, 745, 885, 004; consolidated revenue fund charges of N16, 570, 004, 777.
According to him, the consolidated revenue fund charges comprised of Pension and Gratuity N8.5 billion; Public Debt Charges/Debt Services N7.02billion; and Public Officers’ Salary of N1.04 billion.
The Governor said it is projected that Bauchi state will realize capital receipts in the sum of N57, 714, 770, 077 comprising of opening balance N250 million and internal loans N21, 600, 000, 000; External loans N7, 774, 261, 216; Grants and Aids N9, 993, 223, 164; and Other capital receipts/local Govt. Joint Project N18. 097, 285, 697.
The Budget capital expenditure breakdown is Administrative sector N5.4 billion; Economic sector N30.5 billion; Law and Justice Sector N1.9 billion; Regional sector N3.3billion, and social sector N28.5billion, giving a total of N69, 805, 091, 554.
He explained that the present administration came into power at a difficult time when the economy was at the brink of total collapse with public treasuries at all levels of government empty, high level of corruption, and insecurity of lives and property nationwide.
The Federal Airports Authority of Nigeria, FAAN, has said the new terminal building at the Murtala Mohammed International Airport, MMIA, Lagos, which will be completed in 2016 is expected to boost the airport’s passenger capacity by another 15 million in addition to existing capacity of 15 million passengers,
Spokesman of the airport authority, Yakubu Dati told reporters in Lagos on Wednesday, January 6, that FAAN was currently gearing up towards handling the expected 30 millions passengers traffic at the completion of work at the international airport terminal building.
The aviation authority faces the new challenge as it awaits the International Civil Aviation Organization (ICAO) safety audit in March this year. But the agency said there was no room for disappointments.
Dati, who spoke on the activities of the agency on traffic management before and after the yuletide period, said except the Turkish airline’s passengers breach that happened on Christmas day, the yuletide season saw a hitch-free and seamless passengers facilitation.
He said FAAN was alive to its responsibilities in ensuring that its security operatives and other security agencies deployed detective machines such as screening machine, CCTV, full body scanners and personal intelligence to ensure easy facilitation of passengers.
He said, “Let me also emphasise that a safe and secured airport will be in place and will be witnessed this year when the new terminals under construction will be completed and passengers will have that experience they always enjoy outside the shores.
“With the completion of the new terminal in Lagos, the terminal will be able to process additional 15 million passengers which means we will able to service about 30 million passengers. All these are things put together to raise aviation to a new level this year.”
Nigeria Customs Service, NCS Federal Operations Unit, FOU, zone C Owerri on Wednesday, January 6, disclosed that the unit made a Duty Paid Value, DPV, of N2.7 billion in 2015 up from the N1.8 billion generated the preceding year.
The Area Controller in charge of the unit, Victor David Dimka, who disclosed this to reporters in his office, said that the collections represented a geometrical progression of what the unit made in 2014 adding that it would hopefully go higher in 2016 because the officers of the unit are ever ready to work.
With over N72 million recorded as revenue in 2014, Dimka said that N130,144,132 million was made in 2015.
Dimka who took stock of the performance of the unit last year in comparison with that of the preceding year 2014, said that while 466 seizures were made in 2015, 363 was made in 2014, adding that a total of four suspects were convicted in 2014 and one in 2015.
He said that the unit arrested a total 316 suspects in the year 2015 in connection with the smuggling of various contraband goods into the country.
According to the Area Controller, the figure was recorded in contrast to that recorded in 2014 which stood at 104.
The Nigerian Electricity Regulatory Commission, NERC, has said that the new electricity tariff, the Multi-Year Tariff Order (MYTO) 2015, will take effect from February 1, 2016.
The Commission noted that there are inbuilt consumer protection mechanisms and incentives for improved service delivery by the distribution companies and fair return on investment in the new tariff order.
Consequently, the Commission has restated its mandate to the distribution companies (DISCOs) to abide by its order not to connect new customers without first providing them with meters.
The acting Head of the Commission, Anthony Akah, in a statement made on Wednesday, January 6, said the removal of fixed charge under the new tariff regime “was in response to electricity consumers’ complaints and a measure to ensure electricity distribution companies improve on service delivery as their income is dependent on the quantity of electricity used by their customers.”
Akah said that the Commission will continue to engage stakeholders including members of the National Assembly to address their concerns on the new tariff regime, adding that “NERC holds the National Assembly in high esteem and we are sure that both institutions are working to ensure that the national and consumer interests are protected.”
The Commission, in implementing this cost reflective tariff will effectively monitor and enforce all service delivery agreements in the new tariff order, Akah said in the statement.
The new tariff order aside from eliminating fixed charge has a robust mechanism to ensure that electricity distribution companies fully meter their consumers and eliminate “crazy” billing within one year.
Managing Director of the International Monetary Fund, IMF, Christine Lagarde on Wednesday, January 6, said Nigeria must increase the Value Added Tax (VAT) in order to generate more revenue for development.
The IMF Boss, who is in Nigeria on a 4-day official visit spoke when she met Senators and members of the House of Representatives yesterday at the National Assembly.
To step up revenue mobilization of the country, she said the first step should be the broadening of the tax base and reduction of leakages by improving compliance and enhancing collection efficiency.
“At the same time, public finances can be bolstered further to meet the huge expenditure needs. For example, the current VAT rate is among the lowest in the world and well below the rates in other ECOWAS members-so some increase should be considered,” she said.
While urging the Federal Government to be careful on borrowing, she said Nigeria’s debt is relatively low at about 12 per cent of GDP but that it weighs heavily on the public purse.
“Already, about 35 kobo of every naira collected by the federal government is used to service outstanding public debt. Transfers and tax expenditures should also be addressed.”
For example, continuing the move already begun by the government in the 2016 budget to eliminate resources allocated to fuel subsidies would allow more targeted spending, including on innovative social programs for the most needy.
“Indeed, fuel subsidies are hard to defend. Not only do they harm the planet, but they rarely help the poor. IMF research shows that more than 40 per cent of fuel price subsidies in developing countries accrue to the richest 20 per cent of households, while only 7 per cent of the benefits go to the poorest 20 per cent,” she said.
“Over the medium term, oil prices are likely to remain much lower than the 2010-13 average of more than $100 a barrel. Why? Because of the huge oversupply in global oil markets.”
“Think of the shale oil boom in the United States, and some historically large producers such as Iraq and Iran coming back to the market. Other factors include OPEC’s strategic behavior and the drop in global demand for oil, especially in emerging economies.”
“Already, lower oil prices have sharply reduced Nigeria’s export earnings and government revenues. Both are likely to remain at depressed levels, reducing the space for policy interventions to address Nigeria’s social and infrastructure needs,” the IMF chief said.
Transactions on the floor of the Nigerian Stock Exchange, NSE, closed on a negative note Wednesday, January 6, as the All Share Index plunged by 3.28 per cent to close at 27,180.76 points from 28,102.14 on Tuesday, January 5.
Similarly, market capitalization also slid from N9.665 trillion to N9.347 trillion.
WAPCO recorded the highest gain of the day with N8.99 gain or 9.36 per cent to N105.00 followed by Berger Paint with a gain of N0.50 or 5 per cent to close at N10.50 followed by NAHCO that gained N0.18 or 5 per cent to close at N3.78 per share.
On the other hand, Dangote Cement topped the losers’ chart with N16.57 loss or 9.75 per cent to close at N153.43 followed by Union Homes that lost 0.47 or 9.46 per cent to close at N4.50 per share, and Skye Bank that lost N0.14 or 9.33 per cent to close at N1.36 per share.
All together, a total of 202,724,225 shares worth N1.481 billion exchange hands in 3,012 deals.
The new year started on a bad note for investors in Nigerian stock market as transactions on the bourse remain in the negative one for three consecutive trading day.
Equities had in the last three days traveled south with N503 billion declined in stocks values.
Market losses of N94 billion on Monday continued on Tuesday with N92 billion dropped, while it depreciated by N317 billion yesterday as a result of massive sell-off in big capitalized stocks such as Dangote Cement Plc, Oando Plc, Zenith Bank Plc, FBN Holdings and Tiger Brands Consumer Goods.
At the end of Wednesday, January 6 trading, the equities market closed on a negative note, as NSE All Share Index depreciated by 3.28 per cent to close at 27,180.76 basis points, compared with the 0.95 per cent depreciation recorded previously.
Oil prices shed more than 4 per cent to new 11-year lows on Wednesday, January 6 as the rift between Saudi Arabia and Iran made any cooperation between major exporters to cut output even more unlikely.
The row over Saudi Arabia’s execution of a Shi’ite cleric has chopped nearly 8 percent off the price of oil in the last three trading days, wiping speculation that OPEC members might agree to production cuts to lift prices.
“There are rising stockpiles and the tension between Iran and Saudi Arabia make any deal on production unlikely,” said Michael Hewson, chief market analyst at CMC Markets.
Benchmark Brent crude futures were at $35.07 a barrel at 1318 GMT, down $1.58 on the day, and reached their lowest since early July 2004, having staged their largest one-day drop in percentage terms in nearly five weeks.
U.S. crude futures were down $1.25 cents at $34.72 a barrel after slipping 79 cents the previous day.
Oil has slumped from above $115 in June 2014 as shale oil from the United States has flooded the market, while falling prices have prompted some producers to pump even harder to compensate for lower revenues and to keep market share.
Adding to this oversupply, Iranian oil exports are widely expected to increase in 2016 as Western sanctions against Tehran over its nuclear program are lifted.
“Shale production and increasing capacity from countries like Russia who need to protect revenue combined with expectations of further Iranian supply mean actual production as well as expectations of future production are rising,” Hewson said.
South Africa owned giant telecommunications firm, MTN, has finally acquired Visafone, the only surviving Code Division Multiple Access (CDMA) operator in Nigeria, owned by the banking magnate, Jim Ovia.
The acquisition of Visafone, marks the final death of CDMA operations in Africa’s largest economy.
Though, MTN is yet to make official announcement of the acquisition, inside sources confirmed the development to Daily Trust.
Contrary to the initial report about the deal that MTN is not taking along the purchase of the CDMA company with its liabilities, sources stated the telecoms giant has acquired the struggling Visafone with all its properties, including its spectrum and liabilities.
The United Nations Children’s Fund (UNICEF) – In September 2014 UNICEF began implementing a joint programme with UN Women on Women, Peace and Security (WPS) funded by the European Union (EU). The programme will support the Nigerian Government (Federal level), three Northern Nigerian States namely Adamawa, Gombe and Plateau and selected Local Government Areas (LGAs) to strengthen women’s leadership, advance gender equality and improve protection for women and children in conflict settings.
UNICEF is responsible for implementation of Component 2 of the programme, namely ‘to increase access to reporting mechanisms and protective services for girls and women affected by human rights abuses, including gender based violence, in 3 states of northern Nigeria”. This will entail enhancing avenues for reporting of child rights violation and Gender Based Violence in Plateau and Gombe States, strengthening access to and quality of services for children and women who have experienced violence (including gender based violence (GBV), abuse, neglect and exploitation and strengthening the information management system for collecting data on violations.
We are recruiting to fill the position of:
Post Title: National Consultant for Child Protection and Gender-Based Violence (GBV)
Vacancy number: VN-NGR-01-2016 Locations: Plateau and Gombe States
Contract Type: Special Service Agreement (SSA)
Duration: 11.5 months
Purpose of the Consultancy
The purpose, of this consultancy is to support Government and NGO partners (including community based groups) to strengthen reporting an response for children and women who have experienced violence, including gender based violence.
UNICEF is looking for two national consultants to support the implementation of the programme – one to cover Plateau State and one to cover Gombe State
Major tasks to be accomplished:
Support state and non-state actors to strengthen the child protection system including modelling a pilot in four Local Government Areas
Support the state to launch the their campaign to end violence against children and their priority responses
Organize framings as needed for frontline workers on child protection and GBV in Gombe and Plateau States
Develop a costed advocacy plan for the passing of the Child Rights Act (CRA) in Gombe State in Plateau State support the effective implementation f the Plateau State Child Rights Law (CRL)
In collaboration with the Child Protection Specialist in Bauchi, assist with overseeing the child protection mapping and assessment in Gombe including technical assistance for the research team help organize and facilitate validation meetings and backstop for the research team
Strengthen the information management system for child protection and GBV
Participate in any state level coordination of groups related to child protection and GBV for advocacy for child protection and GBV concerns in Gombe and Plateau States
Minimum Qualification
University degree in Social Science, Law or related field (Masters or equivalent level)
Five years experience of relevant professional work experience on child rights child protection social welfare or GBV/gender Issues”‘
Experience in project management
Excellent planning and organizational skills
Excellent communication skills – both oral and written
Familiarity with the systems strengthening approach to child protection
Experience in working in Plateau/Gombe
Application Closing Date
15th January, 2016.
How to Apply
Interested and qualified candidate should submit their applications, accompanied by updated CV’s in English and a completed United Nations Personal History Form.
Applications should be sent to: nrecruit@unicef.org Please put the position title you are applying for on the subject line of your email.
IITA is an international non-profit agricultural research-for-development (R4D) organization established in 1967, governed by a Board of Trustees, and a member of the CGIAR Consortium. Our R4D approach is anchored on the development needs of the tropics. We work with partners to enhance crop quality and productivity, reduce producer and consumer risks, and generate wealth from agriculture. We have more than 100 internationally recruited scientists from about 35 countries and 900 nationally recruited staff based in various stations across Africa.
We are recruiting to fill the vacant position of:
Job Title: Senior Groundsman
Ref. IITA-HR-NR2015-052 Location: Ibadan
Recruitment Type: National (2-year renewable contract)
Duties
Successful candidate will among other things perform the following:
Assist in landscaping maintenance i.e lawn,hedges, shrubs, and tree;
Assist in fumigation based on insect and weed control;
Perform any other duties as may be assigned by unit Head
Qualification and Experience
Diploma/ Trade Test II with minimum of 3 years working experience or O’level with minimum of 5 years working experience in a related role.
Driving skills would be an added advantage.
The ideal candidate must be able to follow instructions and work independently when necessary
Remuneration
We offer highly competitive salary with equally attractive fringe benefits and excellent working conditions in a pleasant campus environment.
Application Closing Date
19th January, 2016
How to Apply
Interested applicants should forward their applications with detailed curriculum vitae saved with their names in Microsoft word format. The application must include the names and e-mail addresses of three professional referees which must include either the Head of applicant’s current or previous organization or applicant’s direct Supervisor/Superior officer at work and evidence of current remuneration package.
Airtel Nigeria (Airtel Networks Limited), a leading mobile telecommunication services provider in Nigeria and a member of Airtel Africa Group, is committed to providing innovative, exciting, affordable and quality mobile services to Nigerians, giving them the freedom to communicate, rise above their daily challenges and drive economic and social development. The company made history on August 5, 2001 by becoming the first telecoms operator to launch commercial GSM services in Nigeria and has scored a series of many “firsts” in the highly competitive Nigerian telecommunications market including the first to introduce toll-free 24-hour customer care; first to launch service in all the six geo-political zones in the country; first to introduce affordable recharge denominations; first to introduce monthly free SMS and first to introduce monthly airtime bonus.
We are recruiting to fill the position of:
Job Title: Channel Manager
Location: Lagos
Job Description
Purpose of the Job:
To sustain and enhance targeted gross revenue and gross acquisition in respective SME business by effective implementation of planned sales and channel management strategies.
Key Responsibilities
Acquisition, management and retention of SME/SMBs directly and indirectly through channel partners:
To identify and recruit suitable channel partners who will drive the effective acquisition of SME customers
Ensure adherence of channel partners to all guidelines as this will help ensure their profitability and sustain demand. Responsible for the implementation, acquisition & retention strategy for prospective and existing accounts in the zone
Grow the usage of Corporate products in the states
Create exceptional opportunities to sell non voice products such as data, blackberry, leased circuit, dedicated internet etc…
Create opportunities to run presentations of Corporate products to SMB /SME all segments in the Zones, directly and through channel partners
Responsible for SME/SMB account development and relationship management process for accounts in the channel guided by the signed service level agreement.
maximize sales through effective execution and implementation of placement and distribution strategies
Encourage and develop opportunities to have Airtel presence in all RETAIL & SME COMPANIES in the zones.
3rd Party Channel Management:
Visit a minimum of 3 channel partners per week. Such visit should be targeted as ensuring availability of POS materials, reviewing performance against target, reviewing product knowledge of field sales agents and taking corrective actions as required
Facilitate and coordinate the recruitment, training and development of Field Sales agents
Constantly ensure field sales employees are optimally deployed by advising channel partners and dealers on route planning, territory management, etc.
Market & Competitor Analysis:
Monitor the activities of competition in our target market and customer segment and develop or recommend counter measures to win competition.
Cross Functional Liaison and Support:
Co-ordinate with learning & Development and marketing or product, process and behavioral trainings of field sales employees and channel partners
Work with service delivery and support bill delivery and collection in the zone.
Target Allocation, Forecasting, Reporting:
Accountability for ensuring that agreed target are cascaded across channel partners and field sales agents
Responsibility for managing performance variances and reallocating targets as required
Timely report, of all activities (Daily, weekly, monthly, quarterly etc.. and as required)
Acquisition – Performance Vs. Target and against all product lines
Lost Opportunities
Prospect and funnel management initiatives,
Service queries and challenges.
Channel Branding and Visibility:
Ensure appropriate branding is carried by all active outlets within the territory.
Identify visibility opportunities for Airtel brand within the territory.
Others:
Presence at relevant events, ensuring expected benefits are realized
Reduce debt portfolio and churn in your segment
Carry out all other functions as directed by the Zonal Business Manager.
Desired Skills and Experience
Skills & Knowledge:
Sales channel management or Key account management, Presentation, report writing and basic computer skills.
Educational Qualification:
A University Degree in Business Administration, Marketing or related course.
Relevant Experience:
3 -5 years preferably in FMCG, Consumables & telecom
3-5 years’ experience in managing sales channel or Key Accounts.
Personal Characteristics & Behaviour:
Achieving Results, & Delighting the Customer
Analytical
Team Player; Independent, Confident, and Objective
Attention to detail/ excellent oral and written communication skills
Good presentation skills
Ready to achieve beyond set target
Committed to common goals and values of the organization.
Application Closing Date
19th January, 2016.
How to Apply
Interested and qualified candidates should APPLY
A career at Guaranty Trust Bank offers you a chance to make a difference in your life and the lives of people in your immediate community. Throughout our history, we have continued to help our staff realize their dreams, whilst creating opportunities for them to fulfill their personal and professional potential.
We are recruiting to fill the position below:
Job Title: Graduate Banker
Location: Lagos
Requirements
Minimum of B.Sc Degree or H.N.D from a reputable institution.
Minimum of Second Class Lower Division from any discipline.
Must not be more than 30 years old.
Application Closing Date
22nd January, 2016.
How to Apply
Interested and qualified candidates should send their resume to:recruitment@gtbank.com
Note
Use the job title as the subject of the mail.
Applicants are to submit only ONE application as multiple applications may result in disqualification.
Applicants will be responsible for applications submitted on any other Email address.
Only candidates residing in Lagos will be shortlisted and contacted for an interview (Application not complying with this instruction shall be disqualified.)
The senator representing Ogun Central Senatorial District at the National Assembly, Prince Lanre Tejuoso, has defended the position of the law making body not to operate Treasury Single Account, TSA.
The lawmaker said the legislature by reason of its existence is not a revenue generating body or agency hence there is no need to remit its statutory allocation to a TSA.
Tejusoso said this yesterday while speaking with newsmen at an empowerment programme organized by him for the people of the senatorial district in Abeokuta.
He however said the NASS was in support of TSA saying any government agency or parastatal generating income for the country must remit it to the TSA.
“I believe TSA is for institutions and parastatals that generate income. When you make money it must go to government coffers. The NASS does not make money.
“Once their budget has been determined, to determine how much to be spent for the whole year, they just spend money. I think its a little misunderstanding in terms of nomenclature. Any entity that is making money for Nigeria must operate TSA.
“If NASS is doing anything that can make money for Nigeria, it can go to TSA,” Tejuoso said.
The Minister of Science and Technology, Dr Ogbonnaya Onu, has said that science and technology has the capacity to bring Nigeria out of poverty, create wealth as well as diversify its economy.
The minister made this assertion when a top management delegation of the Nigerian Economic Summit Group (NESG) led by its chairman, Kyari Bukar paid him a courtesy visit in his office, yesterday, in Abuja.
Addressing the delegation, Dr Onu said that science and technology is the future of Nigeria, stressing the present administration’s determination to turn the nation’s fortunes using science and technology.
He said: “We are determined to make sure that we use technology to diversify our economy, create jobs for our people and grow our economy. This administration will work very hard to make sure the sector is given adequate attention because science and technology is the future of our country. It has helped other countries move away from poverty so it will also help us to move away from poverty because with the enormity of resources we have in the country Nigeria should not be poor.”
The minister of Information and Culture, Alhaji Lai Mohammed, has assured that he will continue to place emphasis on the welfare of the ministry’s staff in order to boost their morale and enhance their productivity.
Speaking yesterday during the handing over of two keys of newly-acquired buses to the Joint Staff Union of the ministry in Abuja, the minister said that he is committed to look at the best way to relieve the hardship of workers.
Lai Mohammed said, ‘’We believe that it’s morally wrong of us to expect workers to come early to work when they are using staff buses that are 20 years old. These vehicles will break down on the way to work and many of our people also live quite far away from the office.”
Alhaji Mohammed, who was accompanied by the permanent secretary, Mrs Ayotunde Adesugba, and other top officials, said the ministry had commenced the process of phasing out old staff buses and replacing them with new ones for the convenience of staff.
“A couple of weeks ago, we decided in our meeting that the vehicles in the pool are getting very old and we said that we would be gradually replacing those vehicles as the funds are available.”
The minister assured that the presentation of the vehicles marked the beginning of the numerous welfare packages that would be unveiled for the workers in due course.
A Federal High Court in Abuja yesterday ordered that former Peoples Democratic Party (PDP) Chairman Haliru Mohammed Bello who appeared in court in a wheel chair, to be restricted to the Abuja Clinics, where he is on admission.
The court also ordered that his son, Abba Mohammed Bello be remanded in Kuje prison, Abuja.
