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.
The Ooni of Ife, Oba Adeyeye Ogunwusi, has acquired 30 square miles of land in Ile Ife for cocoa, oil palm and rubber plantation.
The monarch stated that the agricultural investment would create jobs for no fewer than 40,000 youths, adding that this move would further reduce crime rate in Ile Ife and the state.
Ogunwusi, who said this in a statement made available to newsmen in Osogbo by the Director, Media and Public Affairs of Ooni’s Palace, Mr. Moses Olafare, said he would dedicate the year 2016 to youth development.
This project, Olafare explained, was apart from the resort being built by the monarch where about 3,000 youths were currently engaged.
The statement read, “Kabiyesi has dedicated the new year 2016 to turn around the fortunes of the youth by unfolding a new vista of hope in terms of gainful employment. Already, no fewer than 3,000 youths are engaged at ongoing project site of Ife Grand Resort, spanning over 1000 acres of land established by the monarch to provide job opportunities for the people.
“Specifically, the targets of Ooni Ogunwusi are beyond the shores of Ile Ife and critical arrangements have reached the advanced stage to take the unemployed youths off the streets, with a view to checking the growing crime rate in our society.
“To achieve this feat, 30 square miles of land had been acquired at Ife reserve to drive massive agricultural revolution which would pave the way for cocoa, oil palm and rubber plantation. This scheme would create job opportunities for no fewer than 40,000 people.”
The Nigerian Communications Commission (NCC) has concluded plans to commence the implementation of national roaming agreements among Nigerian mobile telecommunications networks. Consultations are ongoing over appropriate legal and regulatory framework with relevant stakeholders in the industry.
National mobile roaming is the ability of a cellular customer to automatically make and receive voice calls, send and receive data, or access other services, including data services, when travelling outside the coverage area of the home network, by means of using a visited network.
When the national roaming regime is finally enthroned, a subscriber of one network without signal will automatically be handed over to another network which has signal in the state, town or village.
The implication is that, so long one has a mobile phone you will always get network anywhere one found him/herself.
The telecom regulator has come out with a consultation paper on national mobile roaming which will guide the stakeholders to make contributions towards the final document. National Mobile Roaming is a feature in several communication licences but it has not yet been utilized in Nigeria.
NCC believes a national roaming agreement effectively multiply a carrier’s ability to cover those areas where they do not have the presence of their own network, without actually having to deploy infrastructure. Prior agreement between operators enables the subscribers to roam into another network in case the home network is not available.
The Trade Union Congress of Nigeria and the Nigeria Union of Petroleum and Natural Gas Workers have stressed the need for strict compliance with the new pump price of Premium Motor Spirit, also known as petrol, as the product is still being sold above the regulated price in many parts of the country.
The Federal Government through the Petroleum Products Pricing Regulatory Agency had last week announced that retail filling stations belonging to the Nigerian National Petroleum Corporation would from January 1, 2016 sell petrol at N86 per litre, while other marketers would sell the product at N86.50 per litre, as against the old pump price of N87.
The Chairman, TUC Rivers State, Mr. Chika Onuegbu, said in a telephone interview, “I think that with what the government has done, you will not expect the marketers to hurriedly comply, given the character of the marketers we have in Nigeria. These are people that even when the fuel was N87, at every opportunity they had, they wanted to sell at N130 or N140.
“The way to ensure that they sell at the new price is for the Department of Petroleum Resources, the NNPC, and the security agencies to collaborate and enforce the price. Then, state governments should set up a task force to monitor the marketers, the distribution of petroleum products and ensure that petroleum products meant for their states get there and that they are sold to the people at the correct prices.”
He said the marketers were manipulating the prices because of lack of collaboration in the enforcement of the new price.
The Federal Government has said it will not listen to calls that the National Youth Service Corps scheme should be abolished.
The Minister of Youth Development and Sports, Mr. Solomon Dalong, who made this known in Lagos during an inspection tour of the Lagos State NYSC orientation camp in the Iyana Ipaya area on Tuesday, said the NYSC had come to stay, adding that its merits outweighed its disadvantages.
He pointed out that the scheme had not only enhanced the socio-cultural and ethnic integration in the country but had also promoted national unity.
While pledging the Federal Government’s continued support for the scheme, the minister said that plan was in place to train interested graduates in skills acquisition after the mandatory one-year service.
He said such graduates would be provided with a start-up capital at the end of the training, which according to him would indirectly stimulate interest in education.
Dalong expressed satisfaction at the state of the Lagos NYSC orientation camp, and thanked the Lagos State government for its support for the scheme.
Responding, the Director General of NYSC, Brig. Gen. Johnson Bamidele Olawumi, expressed gratitude to the minister for his visit and promised that his administration would do its best to uplift the NYSC scheme towards the economic growth and development of the country.
Details in the 2016 budget have shown that the Federal Government has allocated N311.38 billion to the Nigerian Army, Navy and Air Force for the 2016 fiscal year.
An analysis of the allocated amount indicates that N65.03 billion will be used for the purchase of various military aircraft, combat equipment, trucks and maintenance of boats among others.
Out of the N311.38bn, the sum of N139.8bn, made up of capital expenditure of N120.01bn and recurrent expenditure of N19.78bn is allocated to the Nigerian Army.
For the Nigerian Navy, the sum of N85.97bn is allocated for its operations. This amount is made up of N60.33bn for recurrent expenditure and N25.64bn for capital spending.
The Nigerian Air Force has a total budget of N85.61bn, made up of N62.15bn for recurrent expenditure and N23.46bn for capital expenditure.
For the Nigerian Army, the budget document states that the sum of N5.64bn has been budgeted for the purchase of defence equipment; N2bn for kitting of armed forces personnel; and N1.96bn for the purchase of trucks.
Similarly, the sum of N2.07bn is being proposed for security votes including operations while N7.24bn has been budgeted for the construction of military barracks.
For the Navy, the budget document states that the purchase of defence equipment will gulp N18.29bn while the sum of N372.95m and N734.06m are budgeted for the maintenance of aircraft and sea boats respectively.
In the same vein, the document indicates that the government is planning to spend N1.7bn to purchase surveying equipment, N296.88m to fuel aircraft; N645.35m for sea boats and N706.07m for security votes, including operations.
The Managing Director of the International Monetary Fund, Christine Lagarde, has said that the organisation was keen to assist the Federal Government of Nigeria in tracing stolen funds, plugging revenue leakages and restructuring the tax system.
Lagarde, who is in the country on a four-day working visit, also said that Nigeria had all the potential to overcome the current economic challenge of falling commodity prices without resorting to the IMF for financial support.
The IMF boss reportedly said this during a closed-door meeting with President Muhammadu Buhari at the Presidential Villa, according to a statement by the President’s Special Adviser to the President on Media and Publicity, Mr. Femi Adesina.
Buhari, on his part, said he had told all heads of Ministries, Departments and Agencies of government that under his leadership, they must give full account of all funds allocated to them.
He said his administration would look inwards, enforce regulations to stop financial leakages and adopt global best practices in generating more revenue to mitigate the effects of dwindling oil prices on the Nigerian economy.
The President said that the Federal Government was reviewing its operational costs and had directed all the MDAs to cut down on their overheads.
According to him, the Federal Government will welcome the technical support and expertise of the IMF for its plans to diversify the Nigerian economy and further unleash its growth potential.
After her meeting with Buhari, the IMF boss said with the determination and resilience so far displayed by Buhari and his team, Nigeria did not need any loan from her organisation and that she was not in the country to negotiate loans with the Federal Government.
The household oral care brand from Procter & Gamble, Oral-B has restated its commitment in helping Nigerians have stronger teeth and improved overall oral health in 2016 and beyond. The brand which has a strong bond with dental associations in the recent years made this known during the post-Health Week Executive debrief session in Lagos and the National Oral Health Week 2015 held in Abuja.
At the National Oral Health Week organized by the Federal Ministry of Health, held in Abuja, The Honourable Minister of State for Health, Dr. Osagie Enahire had also made a similar appeal to Nigerians to see their “oral health as closely integrated with their general health system as the mouth is the gate way to the body and several oral diseases are related to non-communicable diseases such as diabetes mellitus and hypertension.”
Speaking at the Executive editorial debrief session following the 2015 National Oral Health Week, the Brand Manager of Oral B for Sub-Saharan Africa, Aliza Leferink, pointed out that “healthy teeth and gums are fundamental to overall health and well-being. And we want Nigerians going into 2016 and beyond with stronger teeth, which comes from forming a great daily care habit, consistency and the right toothpaste use.”
“Maintaining healthy teeth can be achieved by following a number of simple principles, and Oral-B wants to help Nigerian consumers on their way to better oral-care-routines.” Aliza advised that firstly, one should brush twice a day and floss daily. Most people find it difficult to brush at night. But this is one of the most effective ways of preventing germs, gum disease and tooth decay in the long term. Brushing at least twice a day will help to prevent acid build up from the breakdown of food by bacteria.
To brush the teeth correctly, one should spend at least two minutes using a recommended technique, which includes 30 seconds brushing each section of your mouth (upper right, upper left, lower right and lower left), both morning and night. Start with outer and inner surfaces, and brush at a 45-degree angle in short, half-tooth-wide strokes against the gum line. Make sure you reach your back teeth. Move on to chewing surfaces. Hold the brush flat and brush back and forth along these surfaces. Once you get to the inside surfaces of your front teeth, tilt the brush vertically and use gentle up-and-down strokes with the tip of brush. Finally, brush your tongue in a back-to-front sweeping motion to remove food particles and help remove odor-causing bacteria to freshen your breath”.
Oral-B also demonstrated that the hygiene and condition of the tooth-brush itself is very important for a healthy mouth. Tooth brushes should be changed 3 to 4 times a year. If the toothbrush bristles become frayed and worn, they may lose their effectiveness, and when ineffective, it is not able to get into all of the nooks and crannies of your mouth and clean your teeth and gums as a new toothbrush does. Some studies have shown the typical toothbrush can harbor up to 10 million bacteria, so a good and frequently exchanged toothbrush will help keep your teeth clean and healthy.
Good diet and low sugar intake is another habit that needs to be cultivated. It is advisable to visit the dentist for regular check-ups, preferably every six months to ensure gum and teeth do stay healthy. Most people go to the dentist only when they are in pain. They should go for both prevention and cure!
The Oral-B toothpaste combines three powerful ingredients, stannous chloride, sodium fluoride and a specific Polychelation Technology which address the seven areas dentist check most to help people achieve healthy, beautiful teeth. Through its new advanced toothpaste formulation Oral-B tooth paste creates a protective shield around the teeth and gums. During brushing the paste distributes key ingredients throughout the mouth.
Oral-B brand is a worldwide leader in Oral Care. Oral-B continuously strives to work closely with the dental professionals to deliver high quality products. Oral-B Toothpaste was developed by dentists and helps to protect the 8 most common oral health problems at the same time: Tooth holes, bad breath, gum problems, tooth sensitivity, stains, bacteria deposits, tartar, and enamel erosion.
Indications have emerged that oil exploration has plunged in the United States and Canada due to decline in investments, hence raising hope for the dominance of Organisation of Petroleum Exporting Countries, OPEC.
Baker Hughes latest weekly rig count indicated that oil rigs deployed for exploration “dropped to 698 rigs, two less than the previous week and confirming one of the worst years in a generation for the US rig market.”
According to Energy Voice, “Rigs targeting crude in the US fell by 2 to 536. Natural gas rigs were unchanged at 162, bringing the total of working rigs to 698. Drillers searching for oil this year idled the largest proportion of their rig fleet since at least 1988.”
It indicated that “Drillers in the Permian Basin of west Texas and New Mexico added five rigs in the last week to boost the total to 217, according to the report. In the Haynesville shale, a source of gas in east Texas and Louisiana, one additional rig was put to work.”
“About 70per cent of the vertical rigs in the US have been dismantled this year, compared with 59per cent of horizontal drilling units, according to the report,” it added.
It maintained that two-thirds of oil rigs in the U.S. have been parked since drilling peaked in October 2014.
The report indicated that in Canada, rig count is down by 43 to 83 rigs, with oil rigs down 32 to 12, and gas rigs down 11 to 71.
It maintained that Canadian rig count is down 125 rigs from last year at 208, with oil rigs down 40, and gas rigs down 85.
The Securities and Exchange Commission, SEC, on Tuesday, January 5, disqualified 24 Capital Market Operators, CMOs, for noncompliance and/or the inability of the audit firms to substantiate their claims of compliance.
A list uploaded to the SEC website after capital verification has been conducted showed that 429 CMOs adhered to the minimum requirements while 24 others were disqualified.
A source at SEC, who pleaded anonymity, said that the regulator will not be able to release the list due to the present sensitive nature of the market, as such might further erode investors’ confidence and trigger more sell-off of shares.
“In exercise of the powers conferred on it by the Investment and Securities Act (ISA) 2007, the Securities and Exchange Commission hereby releases the list of Capital Market Operators that complied with new minimum capital requirement after capital verification exercise,” the apex regulator said in the circular.
This list, it further said, “was based on the consideration of the reports on capital verification and the responses received from the affected Capital Market Operators (CMOs).
“In all, 24 CMOs were disqualified for non-compliance and/or inability to substantiate claim of compliance based on queries raised by the audit firms. In addition, 16 new CMOs were added on the list, 10 of which were newly registered companies and six filed evidence of compliance after the release of provisional list which were verified and accepted.”
To facilitate the smooth implementation of the new minimum capital requirements for CMOs, the Capital Market Committee (CMC) set up a market- wide Implementation Committee on New Minimum Capital Requirement for CMOs comprising SEC, the Nigerian Stock Exchange (NSE), the Central Securities Clearing System (CSCS), the Association of Stockbroking Houses of Nigeria (ASHON) and all other capital market trade groups.
The Federal Government has abolished tendering process for the engagement of pre-shipment inspection and monitoring agents for the oil and gas sector.
Minister of Finance, Kemi Adeosun, who disclosed this on Tuesday, January 5, said the cancellation of the exercise was necessitated by a series of complaints as well as petitions alleging that the process had been marred by irregularities.
The decision was premised on the President Muhammadu Buhari’s order in June 2015, that the Federal Ministry of Finance should commence the process of engaging pre-shipment inspection and monitoring agents.
Following the approval of the Bureau of Public Procurement (BPP), a selective tendering process was initiated under which 65 companies were selected and invited to bid.
However, the statement explained that since the inception of the process, numerous complaints have been received by the Ministry suggesting that the method by which the 65 companies were selected was faulty and lacked transparency.
The statement read in part: “The Minister of Finance, Mrs. Kemi Adeosun, has ordered the immediate cancellation of the tendering process for the engagement of pre-shipment inspection and monitoring agents for oil and gas. The receipt of numerous complaints and a petition regarding alleged irregularities in the process necessitated the decision.”
It added that, “a formal petition was received by the BPP, making specific allegations about the process. Under public procurement rules, the receipt of a formal petition requires a suspension of the tendering process to allow for an investigation.
The Ministry of Works, Power and Housing is to expend N20, 692,987,864 on the provision of electricity to its corporate headquarters in Abuja.
The expenditure, which is contained in the 2016 Appropriation Bill, also includes the sum of N45, 463,197 for fueling of its generating plants.
Following the amalgamation of the three key ministries, there seems to have been an attempt to also grant the ministry and its parastatals a huge chunk of the national budget, particularly in the power sector.
For instance, the National Rural Electrification Agency (NERA) has been allocated the sum of N9.7 billion; Electricity Management Services was allocated the sum of N2.2 billion; National Power Training Institute has N1.3 billion; Nigeria Electricity Liability Management Limited has N3.3 billion; Nigeria Bulk Electricity Trading Plc. has N60.7 billion, while the Transmission Company of Nigeria got an allocation of N48.2 billion.
Similarly, the Federal Road Maintenance Agency (FERMA) has been allocated the sum of N46.2 billion, just as the sum of N569,566, 969 has also been allocated to the same ministry for local and foreign travels; maintenance of motor vehicles and transport equipment as well as for fuel and lubricants of its vehicles.
The same ministry has proposed a total of 19 new electricity projects valued at N20.287 billion and 78 road projects estimated to cost N260.838 billion. These projects are located in different parts of the country.
According to an online flight-monitoring platform, the Aviation Passenger Service, APS, nine Nigerian domestic airlines cancelled 29,775 flights in 2015, as the shortage of aviation fuel, bad weather and other operational deficiencies weighed in on operations in 2015.
The grounded flights were out of a total 93,158 flights recorded between January 1 and December 31, 2015 across airports in the country.
Data compiled from the APS, one of the surviving projects initiated by former Aviation minister, Osita Chidoka, showed that while 43,999 flights were “delayed”, only 19,384 flights departed to their destinations “on time”.
The airlines’ flight performance monitor portal showed that Dana Air topped the overall flight performance chart for the year with 40.1 per cent ‘On Time’ performance with the least cancellations.
The airline was followed by First Nation with 39.1 per cent and Arik Air with 25.5 per cent. Discovery Air was rated the lowest performer with 0.1 per cent.
In 2015, the incidence of cancellations and delays were worsened by the strike by air traffic controllers which grounded all domestic flights at that time, leaving passengers stranded at terminals across the country.
Inclement weather had also at the beginning and end of 2015 ravished some parts of the country, causing massive flight delays, rescheduling and cancellations.
This development is an effort to meet the growing demand for non-scheduled flights services in the country.
The plan is contained in the proposed 2016 budget presented by President Muhammadu Buhari to the National Assembly recently.
A breakdown of figures contained in the budget proposal for the ministry indicates that the ministry has allocated N173m for the construction of a general aviation terminal (GAT) at Wing D of the Abuja airport.
Construction of the GAT for private jets operation will gulp N71.5m, while N13.6m has been appropriated for the provision of a GAT protocol lounge and rehabilitation of the fire station at the airport.
The GAT is where non-scheduled flights like private jets, chartered and special airlines’ operations take place at the airport.
Also, the ministry has proposed to construct a new airline office at the airport for N66.5m, while a new accident rescue centre will be built for N45m.
Output is not far below July’s 31.88 million bpd, the highest since Reuters records began in 1997.
Carsten Fritsch, analyst at Commerzbank said:“There is certainly no chance of Saudi Arabia scaling back its oil supply to make space for Iranian oil,” adding the tensions still justify a risk premium on prices because they could escalate, Reuters reports.
“In other words, the existing oversupply may actually grow further in the short term.”
The biggest monthly decline in output came from Iraq, the world’s fastest growing source of supply growth in 2015.
Exports from Iraq’s main outlet, its southern terminals, have slipped from November’s record level which had been boosted by delayed October cargoes, but are likely to reach new highs in the coming months, industry sources said.
Shipments from Iraq’s north by the Kurdistan Regional Government via Ceyhan in Turkey have edged lower, while those by Iraq’s State Oil Marketing Organisation have remained at zero for a third month, the survey found.
Top exporter Saudi Arabia has kept output steady to slightly lower, sources in the survey said, due to less demand from outside the country and largely steady domestic use.
“Directionally, supply is down a little bit,” said a source who tracks Saudi output. Saudi production reached a record high of 10.56 million bpd in June.
Nigerian output declined by 50,000 bpd due to disruptions to exports from the Brass River and Bonny production streams, sources in the survey said.
Output in Iran, eager to reclaim its spot as OPEC’s second-largest producer when sanctions over its nuclear programme are lifted, is edging up, the survey found. Kuwait and Qatar also posted small supply rises.
Indonesia, which rejoined OPEC on December 4 bringing the membership to 13, will be included in the January survey.
The Minister of Environment Amina Mohammed has projected that the nation can generate $7, 5 billion from of grid solar energy.
Mohammed who spoke at the just held Conference of Parties on Climate Change, otherwise known as COP 21, in Paris, France, said: “In particular, we plan to develop around 13,000 gigawatt of off-grid solar power, delivering energy access to the poorest communities in a cheaper and healthier manner with less emission.
“We also plan to create a more efficient, lower carbon oil and gas sector. By ending gas flaring and using the gas for commercial purposes, including power generation, we could generate as much as $7.5bn worth of benefits.”
The Minister said given the climate risks that Nigeria faces, this is the only way in which the government’s ambitious Agriculture Transformation Agenda can be delivered
“Nigeria’s ambitious INDCs aim at reducing emissions by 20 per cent by the year 2030 with support from the international community. This will support the restructuring of the economy in a way that will facilitate inclusive growth with vast opportunities to diversify the energy mix, with emphasis on renewable energy and efficient gas power,” she added.
Transactions on the Nigerian Stock Exchange, NSE, closed south on Tuesday, January 5 as the All Share Index slumped by 0.95 per cent to close at 28,102.14 points from 28,370.32 on Monday, January 4.
Similarly, the market capitalization also fell from N9.757 trillion to N9.665 trillion.
Ecobank recorded the highest gain of the day with N0.84 gain or 5 per cent to N17.64 followed by Fidelity Bank with a gain of N0.07 or 4.83 per cent to close at N1.52 followed by Livestock that gained N0.06 or 4.51 per cent to close at N1.39 per share.
On the other hand, Stanbic IBTC topped the losers’ chart with N1.53 loss or 9.26 per cent to close at N15.00 followed by Unity Bank that lost 0.10 or 8.93 per cent to close at N1.02 per share, and Nigerian Breweries that lost N6.46 or 5 per cent to close at N122.74 per share.
All together, a total of 195,969,167 shares worth N1,892 billion exchange hands in 2,975 deals.
The value of the naira strengthened to N262 against the dollar on Tuesday, January 5.
The greenback which sold at N265 yesterday gained value selling at N262 as demand for forex dropped.
The volatility in the money market all through 2015 had left the economy in shambles with uncertainty trailing exchange rates and the CBN struggling to save the local currency from the lingering plunge.
