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Thursday, 05 May 2022 21:38

Tragedy struck at the early hours of Thursday, when one of the officers of the Lagos State Traffic Management Authority, LASTMA, suddenly slumped and died in the process while on duty at Ojota post, Lagos according to Vanguard.

An eyewitness,  Mr Ibrahim Ajao, said the tragic incident which occurred at about 7.30 am attracted the attention of passers-by and sympathisers who tried to save the life of the officer by applying first aid all to no avail.

The identity of the deceased officer , a middle-age man, could not be ascertained as of press time.

The immediate and remote cause of death was also not known.

Meanwhile a senior LASTMA officer who confirmed the death on condition of anonymity, said the body has been deposited at the Lagos State University Teaching Hospital LASUTH, Ikeja.

 

 

 

 

 

Thursday, 05 May 2022 07:56

Telecommunications companies under the Association of Licensed Telecom Operators of Nigeria (ALTON) have asked for upward reviews in voice calls, short message services (SMS) and data costs.

ALTON said this in a letter addressed to the Nigerian Communications Commission (NCC), citing the rising cost of running a business.

According to ALTON, the proposed upward review of the price of calls will increase from N6.4 to N8.95, while the price cap of SMS will increase from N4 to N5.61.

The group said rising energy and other costs had increased their operating expenses by 35 per cent.

It added that the introduction of the recent excise duty of five per cent on telecom services had further increased the burden of multiple taxes and levies on the industry.

“As the commission may be aware, the power sector under the supervision of its Nigerian Electricity Regulatory Commission of the power sector in November 2020 undertook a review of electricity tariffs to cater for the economic headwinds reported above,” the letter reads.

“In view of the foregoing, ALTON considers it expedient for the telecommunications sector to undergo periodic cost adjustments through the commission’s intervention to minimise the impact of the challenging economic issues faced by our members. Details are hereunder:

“Upward review of the price determination for voice and data and SMS. Given the state of the economy and the circa 40 per cent increase in the cost of doing business, we wish to request an interim administrative review of the mobile (voice) termination rate for voice; administrative data floor price, and cost of SMS as reflected in extant instruments.

“With respect to voice and SMS cost, ALTON respectfully requests the commission to consider a mark-up approach to address the upward price adjustment desirable for the industry. We have enclosed herein and marked ‘Annexure 1’ to our proposal in that regard.

“For data services, we wish to request that the commission implements the recommendations in the August 2020 KPMG report on the determination of cost-based pricing for wholesale and retail broadband service in Nigeria. Excerpts from the report are attached and marked ‘Annexure 2’ to provide a further illustration.

“In implementing the said recommendations, however, we recommend that the 40 per cent increase in the cost of doing business be factored in to arrive at a cost price per GB in view of the current economic situation.”

The group also highlighted other demands to the commission such as to explore other penalties for operators other than punitive monetary sanctions, extend the payment timeline of relevant regulatory levies and fees, prevail on the federal government to sign the executive order declaring telecoms infrastructure as a critical national infrastructure to mitigate cost spent replacing damaged and stolen infrastructures, among others.

It added that the Mobile (Voice) Termination Rate (MTR) for voice, administrative data floor price and cost of SMS as reflected in extant instruments should also be increased.

“For large operators, a new interim MTR of N5.46 from N3.90 reflecting 40 per cent increase in the cost of business,” ALTON said.

“For small operators, the new interim MTR of N6.58 from N4.70 reflects a 40 per cent increase in the cost of business.”

 

 

 

Thursday, 05 May 2022 07:51

Debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year to N861.14bn in December 2021 amid the lingering problems plaguing the sector since it was privatised over eight years ago, according to the Central Bank of Nigeria data.

The PUNCH had reported in July 2020 that the core investors in the distribution companies were looking to restructure the loans advanced to them by banks for the acquisition of the power assets.

In November 2013, the nation’s distribution and generation companies were privatised through the Bureau of Public Enterprises, fetching about $3.2bn for the Federal Government, as the Discos and Gencos were sold for $1.7bn and $1.5bn, respectively.

The Federal Government officially privatised the six successor power generation companies and 11 distribution firms that were unbundled from the defunct Power Holding Company of Nigeria.

The acquisitions by the core investors were financed mostly by debts, a significant portion of which was provided by local banks.

Power generation firms and independent power producers increased their total debt to N522.2bn in December 2021 from N443.37bn in December 2020, according to figures obtained from the CBN.

Transmission and distribution firms owed banks N338.94bn as of December 2021, up from N319.85bn a year earlier.

The PUNCH had reported on Tuesday that the crisis rocking Nigeria’s power sector seems to be expanding annually despite efforts by the Federal Government and the private sector in managing it.

From power generation to transmission down to distribution, there have been diverse concerns, as well as in other arms of the business such as in the regulation of the industry.

These concerns have made stakeholders express doubt over the viability of the privatisation of the distribution and generation arms of the industry over eight years ago, which has yet to impact considerably on Nigerians.

They stated that the recent takeover or re-acquisition of some power distribution companies by a Deposit Money Bank, the Asset Management Corporation of Nigeria and another investor, for instance, showed that all was not well with the Discos.

Chris Akamnonu, who served as managing director in three Discos in the Southeast and Southwest for about 13 years, said: “The situation is more complex than the ordinary person sees. The entire experiment may not be yielding the desired results; that is the frank truth.”

 

 

 

Thursday, 05 May 2022 07:21

President Muhammadu Buhari and Secretary General of the United Nations (UN), Antonio Guterres, Wednesday, met at the State House, Abuja.

The President received the UN scribe and his delegation at the forecourt of his office at around 3:03pm.

After the brief welcome ceremony, Buhari led Guterres to his office where they had a meeting before returning to brief the media.

During the briefing, the President underscored the significance of the visit at a time the global attention is focused on the Russia-Ukraine war.

Buhari spoke on the effort to deal with terrorism and the role of the world body.

In his remarks, Guterres said his visit was a solidarity with victims of terrorism.

The UN chief, who said he postponed his visit to Nigeria because of the war in Ukraine, added that he was keen to carry on his habit of the last two years of identifying with Ramadan.

On Monday, Guterres visited a rehabilitation centre for victims of Boko-Haram and an Internally Displaced Persons (IDPs) camp in Maiduguri, the capital of Borno State, where he said with what he had seen, Nigeria would be able to defeat terrorism.

 

 

 

 

Thursday, 05 May 2022 07:11

Aviation stakeholders have disclosed that the collection of helicopter landing charges in the country would begin on May 9.

Also, it was gathered that stakeholders in the sub-sector and helicopter operators have been briefed on the concessionaire’s mandate and informed of the planned collection of landing fees.

The body and Helicopter Services Operators in Nigeria, met yesterday, at the Port Harcourt International Airport, Omagwa, to deliberate with the management of Naebi Dynamic Concepts Limited, the concessionaire empowered by the Federal government of Nigeria to collect Helicopter landing charges as well as monitoring and surveillance of Helicopter movements in the country.

Managing Director of the firm, Stanley Chike, in a brief interview, confirmed that the collection of Helicopter landing charges would begin on the 9th of May, 2022.

Chike noted: “Stakeholders would kindly recall that, the date of collection as stated, comes 90 days, after the inauguration of the consortium precisely on the 4th of February, 2022.”

 

 

 

Thursday, 05 May 2022 07:06

National working committee of the Peoples Democratic Party (PDP) has postponed its LGA congresses to elect national delegates for the presidential primary.

The LGA congresses were scheduled to take place on May 5 across the country.

In a statement issued on Wednesday, Debo Ologunagba, PDP spokesperson, said a new date for the exercise would be fixed soon.

“The National Working Committee (NWC) of the Peoples Democratic Party (PDP) has approved the postponement of the Party’s Local Government Congress to elect one LGA National Delegate earlier scheduled for Thursday, May 5, 2022,” the statement reads.

“A new date for the LGA Congress will be announced in due course. The NWC regrets any inconveniences the postponement may have caused.”

On April 30, the screening committee of the PDP vetted 17 presidential hopefuls on its platform, but disqualified two.

The PDP had also fixed May 28 for the election of a candidate to represent the party in the 2023 presidential election.

Meanwhile, the national executive committee (NEC) of the PDP is expected to meet on May 10 to discuss issues affecting the party, including zoning of its presidential ticket.

For the All Progressives Congress (APC), the congresses were scheduled to hold from May 7 to May 9.

However, the party, in a statement on Wednesday, said the exercise will now hold at a later date.

“Congresses to elect local, state and national delegates hold 12th-14th May,” APC said.

 

 

 

 

Wednesday, 04 May 2022 08:00

The  Directorate of Politics and Governance, a political department set up by the Redeemed Christian Church of God (RCCG), has begun canvassing support for Vice President Yemi Osinbajo’s presidential bid, the People's Gazette reports.

Over the weekend, Timothy Olaniyan, the head of the department that had previously denied mobilising support for the vice president’s ambition, said Mr Osinbajo, being a “child of God,” remained the only aspirant capable of changing the governance narrative in Nigeria.

“As of today, Pastor Yemi Osinbajo is not just a pastor; he is still a child of God,” he said.

Speaking to journalists at the inaugural conference of a political movement called New Era Nigeria (NEN), Mr Olaniyan said the country deserved an honest leader.

“It is high time our eyes were opened. What we want is not those baits, we want somebody that would make a promise to our children and fulfil it,” he explained.

“If you tell me education will be free, I want you to get there and make it free so that we will not continue to build up youths who have no future.”

In March, RCCG created the department to mobilise support for members of the mission seeking elective office, a move that further blurred the thin line between religious prejudices and the state in Nigeria.

Weeks after the department’s creation, general overseer of the church, Enoch Adeboye, said he was politically neutral and would not mobilise support for any political party because they are all his “sons.”

 

 

 

Wednesday, 04 May 2022 07:58

Kautukari, a community in Chibok LGA of Borno state, is currently under attack by suspected fighters of the Islamic State of West Africa Province (ISWAP). 

A resident told TheCable that the insurgents invaded the community around 6pm on Tuesday and started shooting randomly.

The suspected ISWAP fighters are reportedly setting houses ablaze while locals are fleeing into the bush for safety.

Soldiers stationed at a military forward operation base (FOB) in Kada, two kilometres away from Kautukari, were said to have been dislodged.

TheCable, however, understands that troops have been mobilised from the army’s 117 battalion in Chibok town to the area.

Kautukari is 17km away from Chibok town.

Efforts to reach Onyema Nwachukwu, army spokesman, for comments on the incident were not successful as he didn’t respond to calls or text message.

Meanwhile, the development comes months after suspected Boko Haram insurgents attacked Kawtakare, Korohuma and Pemi in Chibok LGA.

Four persons were reportedly killed in the attack while a total of 110 building were set ablaze by the insurgents.

During the attack on January 14, the insurgents were said to have invaded the area with different of weapons and started shooting sporadically.

“They first went to the market area as today is our market day, and they looted almost everything,” one of the villagers had said.

“After that, they set the market on fire. And then they started burning the houses. They also burnt this big church in the village.”

 

 

 

Wednesday, 04 May 2022 07:57

Nigeria had to buy emergency supplies of Canadian potash in April after the country was unable to import the key fertilizer from Russia due to the impact of Western sanctions, head of Nigeria's sovereign investment authority NSIA said.

Uche Orji, head of NSIA, declined to comment on prices. However, spot prices today are up more than 250% for deliveries to west Africa compared to last year, according to commodities pricing agency Argus Media, dealing a further blow to the country's finances.

The move shows one of many unintended negative consequences of sanctions to punish Russia for its invasion of Ukraine, which it calls a "special military operation".

The International Monetary Fund said last week that the invasion had delivered a further "huge negative shock" to sub-Saharan Africa, driving food and energy prices higher and putting the most vulnerable people at risk of hunger.

The extra pressure comes as many countries are still reeling from the protracted Covid-19 pandemic.

Nigeria has for years been battling double-digit inflation, which quickened to 15.92% last month, and its population of 200 million will face even higher food costs this year and the next as the agricultural sector passes on the higher costs of imported wheat, diesel and fertilizer.

"Russia was unable to deliver so we bought spot from traders in Canada. The Canadian High Commission in Nigeria helped start the conversation with producers," Orji told Reuters.

NSIA negotiates imports of raw fertilizer materials like potash as part of the Nigerian government's programme to develop its capacity to produce blended fertilizer.

Orji said Nigeria has enough potash inventories to cover 40% of blending demand and bought three cargoes of Canadian potash, which should arrive within the next month. Normally, the country takes five Russian cargoes a year.

Western sanctions and self-sanctioning by many global companies and financial institutions have created chaos for anyone dealing in products of Russian origin and sent many energy and commodity prices to record highs.

Russia's Uralkali, a major global producer of the crop nutrient, has been Nigeria's exclusive supplier since 2019.

Uralkali declined comment. A spokesperson for the Canadian government said it "is aware of the challenges being experienced with accessing potash as a result of the Russian invasion of Ukraine, and we are working closely with our Nigerian counterparts to explore sustainable solutions."

The potash producer has not itself been targeted by sanctions so far but Russian businessman Dmitry Mazepin left the board and cut his controlling stake in Uralchem after he was hit by EU sanctions in March. Uralchem owns the majority of Uralkali.

Orji said there were ongoing discussions to see if a Russian delivery could still be made.

The price of potash has been on the rise since last year after the EU imposed some sanctions on Belarus, the world's third biggest producer after Russia and Canada.

The price skyrocketed in early March following financial sanctions on Russia, hitting a record $1,125 per tonne at the end of April for product on a delivered basis to South Africa, according to commodity pricing agency Argus Media. Combined, Belarus and Russia account for 38% of global potash supplies, which are now uncertain.

Nigeria imported about 200,000 tonnes of potash last year, one of three key ingredients for fertilizer blending, according to the local fertilizer association FEPSAN. Nigeria's raw material imports meet just under 40% of Nigeria's needs, the rest is sourced domestically, and local blended output was 1.5 million tonnes last year, nearly equal to domestic consumption.

"The Canadian potash will hopefully arrive just in the nick of time for the planting season, which starts as early as end-May in some parts," FEPSAN executive director Gideon Negedu said, adding the association has a strategy to prioritise crops that need more potash.

 

 

Tuesday, 03 May 2022 09:35

Death toll at the collapsed three-storey building in Lagos has risen to 10, an official has said.

Margaret Adeseye, director of the Lagos State Fire and Rescue Service, via the agency’s Twitter handle on Monday said that responders were already concluding their operations.

A three-storey building collapsed at 24, Ibadan Street, off Herbert Macaulay Way, Ebute-Metta on Sunday night.

The incident happened when the residents had gone to bed, according to the National Emergency Management Agency (NEMA).

Adeseye said that 10 bodies had been recovered – six males and four females.

“24 (twenty-four) were rescued with varying degrees of injury and all in stable condition, including 2 (two) who are responding to treatment,” she added.

The fire service director said the responders are about to reach ground zero of the search and rescue operations.

“All the first and major responders are still collaborating to mop up the incident scene,” she said.