Fallen Hero- Late Lt. col Muhammed Abu Ali

It could be recalled that Ali’s exceptional gallantry earned him accelerated promotion from Major to Lt. Col in September 2015.

UPDATED: 21 Missing Chibok Girls Released - Presidency

Twenty-one of the more than 200 Nigerian girls kidnapped from a school in Chibok by Boko Haram fighters in 2014 have been released. This is according to Shehu Garba.

The release followed negotiations between Nigeria's government and Boko Haram brokered by Red Cross and Swiss government.

It is confirmed that 21 of the missing Chibok Girls have been released and are in the custody of the Department of State Services, DSS.
"It is confirmed that 21 of the missing Chibok girls have been released and are in the custody of the department of state services," presidential spokesman Garba Shehu said in a statement.

"The release of the girls ... is an outcome of negotiations between the administration and the Boko Haram brokered by the International Red Cross and the Swiss government," Shehu said.

TRUE HEROES OF NIGERIA ARE IN THE GRAVE!

Trailers have killed so many. I wonder who killed more people Boko haram or evitable road accidents especially by trailers and fallen containers.
Worse axis of evil prevails as surremptous murderers. Do we raise army to stop these?
1. Cults: 10 undergraduates die daily unnecessarily through cults in our Schools and universities. = 3,600 per year.
2. Roads: 2 persons die each day in each state & Abuja from Road accidents especially caused by trailers. i.e. 2 x 37 x 365 per yr = 27,010 per yr.
3. Fake drugs & Health: 5 persons die each day in each state and abuja from fake drugs and inefficient, inadequate health facilities. 67,525 per year.
4. Women in birth: average of 2 deaths per day in each state and Abuja reported of women in child birth. No one is speaking for underaged girls who suffer Vistula debilities as they try to give birth in rural areas.2x37x365 = 27,010 per year.
5. Death from avoidable poverty:
At least 5retirees and their children die daily from poverty , sickness, malnutrition etc. as various governments steal also their pension money to pay thugs for election etc. 5x37x365 = 67,525 per year.
6. Death of New born babies.
Average of 5new babies die at birth plus 5abortions daily in each state and Abuja. 135,050 per year.
(A grievous sign that womanhood is feeling the pangs of oppression in this land in silence.)
7. Malaria deaths.
At least 5 killed per day by malaria. And the cost of tratment is above the minimum wage which many states havent paid. i.e. 67,525 per year.
8. Robbery, kidnapping, rape, prejudicial killing and police accidential discharge.
3persons die daily from these in each state and Abuja i.e. 40,515 per year.
9. Pollution.
2 deaths at least in each day in each state and abuja. i.e. 27,010 per year.
With least statistics we have a total of 462,770 or approximately 500,000 (half a million) persons going into early grave unnoticed and not an issue in our State or Federal parliarment or Senate.
Lets make half a million coffins and arrange them at Eagle square so that our blind political leaders will hear. They are too numb to reality by virtue of greed and corruption.
I foresee a generation of youths who shall someday forsake this insanity. I see a younger generation that shall CHOOSE to make positive impact on everyone they meet and everywhere they go. youths who will be a solution provider and not a part of the problem to be solved. i see a new generation of youth who would be a role model worthy of emulation, who will do the right thing at all times regardless of who is doing the wrong thing. I see a generation of youth who will consciously build a great legacy starting now, today and everyday.

By Israel Aanu

10 key numbers to shape Nigeria’s economy in 2015

For more than four years, the Nigerian economy has expanded by an average of 6 percent, despite a home grown banking crisis, global economic collapse, insecurity, energy shortages and lack of movement on important reforms such as the deregulation of the downstream oil sector.

BusinessDay after speaking with analysts, economists and global strategists, has compiled a list of ten other noteworthy numbers (apart from the average 6 percent growth rate) the direction of which will shed light on where Africa’s largest economy is headed in 2015.

200: Naira to the dollar

The strength or weakness of the Nigerian currency is an indicator that affects everyone from real sector manufacturers to offshore carry trade investors looking to buy or sell naira denominated assets.

The Nigerian currency has been selling off versus the dollar since the retreat in oil prices began in mid – June 2014. This forced the CBN Governor Emefiele to devalue the currency by eight percent in November and widen its target trading band to N160-176 against the dollar, although the new level has been breached on the interbank FX market, given dwindling state oil revenues and declining reserves.

“We think an adjustment of the midpoint of the official rate, to NGN200/$1, (from 155 pre-oil price drop and 168 today) implying an overall devaluation of c. 30 percent is probable in the short term.

This could happen as soon as the 20 January MPC meeting,” said Renaissance Capital SSA Economist, Yvone Mhango, in a Jan 08 note.

Any breach of the N200 level will accelerate negative positioning and sentiment against the naira, as well as increase inflation due to Nigeria’s import dependent nature, analysts tell BusinessDay.

$30 bn

Nigeria’s gross Foreign Exchange (FX) reserves stood at $34.4 billion as at 12 January 2015 and is down nearly 20 percent from a year ago.

The CBN has burnt through reserves as it struggles to defend the currency and analysts believe the $30 billion level is a line in the sand, below which investors will lose confidence in the CBNs ability to defend the currency.

For stark comparisons, at the beginning of the 2008 global Financial Crises, Nigeria had FX reserves of nearly $60 bn, while its economy was half the size it is today.

20,000

The Nigerian Stock Exchange (NSE) All Share Index (ASI) has lost nearly N4 trillion in market capitalisation since the sell-off in equities began last June.

The NSE – ASI closed trading on Tuesday 29,889 points and is down 13.76 percent already this year.

A look at its chart and technical analysis of the index shows there may be more sell –off to come, with the 20,000 points level showing up as the next major support level for the index.

$39

During the 2008 financial crises oil prices collapsed from $141 – $39 per barrel in a 6 months period. After which Brent began a gradual climb back to the $100 levels.

Saudi – Arabia, a major player in OPEC has signalled its intention to not cut output to support prices, even if oil hits $20.

Analysts say traders and Nigerian government officials will be watching the $39 mark (where oil bottomed in February 2009) to see if it signals a new bottom for the current shale induced sell-off.

Goldman Sachs reduced its six and 12-month Brent predictions to $43 a barrel and $70, according to a report released Monday.

“To keep all capital sidelined and curtail investment in shale until the market has re-balanced, we believe prices need to stay lower for longer,” Goldman analysts including Jeffrey Currie said in the report.

18 %

The Nigerian Debt Management Office (DMO) sold bonds to fund the government deficit at an average of 13 percent last year.

Analysts believe investors will demand higher yields from the DMO of up to 18 percent, to hold FGN bonds this year.

“The significant back-up in yields in the Nigerian fixed income market is a function of the lower oil price and recent capital flight, but in a sense, it also mirrors the lack of fiscal savings in the country,” Samir Gadio, Head of Africa Strategy, FICC Research at Standard Chartered Bank told BusinessDay.

The DMO has released its provisional issuance calendar for Q1 2015, and seeks to raise (gross) between N215bn (US$1.17bn) and N305bn (US$1.66bn).

The FGN’s budget proposals project a deficit of N755bn for this year, and a contribution from net domestic borrowing of N570bn.

52 %

In the 2011 presidential elections, the incumbent PDP presidential candidate won 58.8 percent of the votes cast to emerge winner.

This year’s contest will be a much tighter race and will see anyone able to muster 52 percent of the votes doing just enough to squeeze through as winner, a political analyst speaking anonymously, told BusinessDay.

10 %

Nigeria’s inflation rate has been in single digits for close to two years and peaked last year at 8.5 percent in August.

“The headline inflation is yet to reflect the impact of the recent currency devaluation, as well as the new electricity tariff, due to the time lag between event and impact,” said research firm Financial Derivatives in a January 12 Economic Bulletin.

Investors will be watching to see if inflation begins to creep up this year to hit the double digits level (10 %) and what actions the CBN may take to mitigate higher consumer prices.

13 %

Nigeria’s benchmark policy rate was increased by 100 basis points to 13 percent after being held at the previous level for up to three years.

A further hike in the MPR in 2015 will be as a result of erosion of reserves and continued oil price slump. Manufacturers already groaning under high borrowing costs will be closely watching this indicator.

“This does not bode well for the 20 percent at the bottom, who are barely able to afford products that we already sell in N10 and N20 packages. They may be unable to afford any attempts by manufacturers to pass on increased costs to the consumer,” Keith Richards, chairman of Promasidor, a Nigerian manufacturer of consumer goods products said.

6,000

The figure (6,000) is the amount in MW of electricity Nigeria hoped to generate by December 2014, which however failed to materialise.

A 50 percent increase in electricity generation from year end 2014 levels of around 4,000 MW to 6,000 MW in 2015 will be significant for economic growth and productivity.

13,000

In its six-year campaign of terror,  the government says Boko Haram has killed more than 13,000 people.

Moving to decisively end this mayhem and war declared on mostly defenceless Nigerians, would give a significant boost to the economy and lives of people living in NE Nigeria.

PATRICK ATUANYA

Boko Haram attacked our building ─ T.B. Joshua

 

The founder and General overseer of the Synagogue Church of All Nations, Prophet T. B. Joshua has said Boko Haram may be responsible for the collapse of a six-storey building in the church premises.

Joshua, who told members of his church on Sunday not to be afraid, said the attack was targeted at him and not at them.

The prophet made it clear that the collapse of the six-storey building at around 11.45am on Friday which led to the death of no fewer than 16 persons was a Boko Haram attack.

Joshua buttressed his claim by showing to his congregation on the Emmanuel TV the chronology of events shortly before and after the accident as captured by the church’s CCTV.

He said, “I received a phone call immediately I got here, just 10 minutes later when I was in the church, that there was a jet hovering over the mountain where I had just left. They said it was hovering at a close range. Before I knew it, I received another phone call that the same jet was now at the church hovering over the building, passing it four times at a very close range before the building collapsed.”

Joshua read to the church a letter which he said was addressed to him by a Boko Haram member, confessing how he had attempted to plant a bomb inside the church.

Joshua said his church was being attacked to scare away members.

“This environment at Ikotun Egbe, we have never witnessed an accident of a building collapse. This is a very stable terrain. I have been here for the past 30 years. I am pregnant with words, but we have left the security agencies to do their job. Let us believe and educate our people and be alive.”

Assuring his congregation that God would bring the perpetrators of the attack to book, Joshua said that the decision of the insurgents to focus on his church might be the end of the Boko Haram’s activities in the country.

Malala Yousafzai meets President Jonathan

Girl-child education advocate, Malala Yousafzai, accompanied by her dad, met with Pres. Jonathan today Monday July 14 at the State House. Speaking during the meeting, president Jonathan said;

“I personally believe that since about 50 per cent of our population are female, we will be depriving ourselves of half of our available human resources if we fail to educate our girls adequately or suppress their ambitions in any way. We are therefore taking steps to curb all forms of discrimination against girls and women, and have also undertaken many affirmative actions on their behalf" he stated. See more photos after the cut...