Buhari Depletes Excess Crude Oil Account for FG, States

President Muhammadu Buhari

President Muhammadu Buhari has approved that the Excess Crude Account be emptied and shared among the three tiers of government.

This was done  in his resolve to end the lingering crisis of unpaid workers’ salaries in the country, especially in several states of the federation and local government councils.

The amount to be shared is  about $2.1 billion (N413.7bn) in fresh allocation between the states and the federal government.

“The money is sourced from recent NLNG (Nigeria Liquefied Natural Gas) proceeds to the Federation Account, and its release was okayed by the president,” the presidency official explained.

Jonathan left N7trillion deficit for Nigeria, Joda, Buhari’s Transition Committee Chairman Says

Ahmed Joda, the Chairman of the transition committee put in place by President Muhammadu Buhari to interface with the former administration of President Goodluck Jonathan for a smooth handover of power on May 29, has stated that the former president left behind a N7 trillion liability.

This figure contradicts claims by officials of the administration that the country’s debt profile stood at N1.3 trillion.
Mr. Joda made the disclosure in an interview he granted the Daily Trust newspaper, published on Sunday. Mr. Buhari’s deputy, Yemi Osinbanjo, had said shortly before the handover of power that the new government would be inheriting a debt of $63 billion.

However, the former Minister of Finance, Ngozi Okonjo-Iweala, promptly rose to the defence of Mr. Jonathan’s administration, saying of the $63 billion debt, the administration only incurred $21.8 billion. She also said the $63.7 billion cited by Mr. Osinbajo included multilateral and domestic loans by successive federal and state governments since 1960.

Speaking on Sunday, however, Mr. Joda said, “We were told at the beginning of the exercise that the government was in deficit of at least N1.3 trillion and by the end people were talking about N7 trillion; everything is in a state of collapse. “The civil service is bloated and the military and police, if you are a Nigerian, you know what they have been facing for a long time; everywhere is in a mess and these things have to be fixed”.

Murray-Bruce advises Buhari to sell off presidential jets, appoint Minister for common sense

Newly sworn-in lawmaker who is currently using the social media to champion what he termed: ‘common sense revolution’, Senator Ben Murray-Bruce, has again posted series of tweets where he advocated for President Muhammadu Buhari to dispose jets in the presidential fleet.

In the strings of tweets posted @benmurraybruce on Monday morning, the Bayelsa-born
businessman claimed that, “The Annual cost of maintaining Presidential Fleet (₦5.3 Billion) can pay for 10k NYSC Corpers to start a business at 500k each #commonse
He went on to urge President Buhari to sell off the country’s 11 presidential jets, insisting that maintaining them at the cost of ₦5.3 Billion per annum was antithetical to the nuggets of ”common sense”.

While urging Nigeria’s leaders to emulate President Joyce Banda of Malawi who discarded her nation’s presidential jet so she can as well board private airlines, the Senator queried: “Does it make #commonsense that our presidential air fleet is larger than the combined fleet of the Queen of England and the British PM?”

He further used his Twitter handle to throw up the need for a common sense revolution in the country, stressing that he wish President Buhari would appoint a minister for ”common sense."

Source: Dailypost

How Sultan of Sokoto made me Speaker – Dogara

Speaker,  House of Rep Hon. Yakubu Dogara

Speaker of the House of Representatives, Hon. Yakubu Dogara, yesterday, dedicated his victory to the support and fatherly backing of the Sultan of Sokoto, Alhaji Sa’ad Abubakar III.

Dogara defeated his opponent, Hon. Femi Gbajabiamila, who was earlier elected by the leadership of the All Progressives Congres in the June 9 House of Representatives speakership mock election.
Speaking at a thanksgiving service held in his honour at the Church of Christ in all Nations (COCIN), Tafawa Balewa, Bauchi State, Sunday, the lawmaker said his victory wouldn’t have been possible without the support of the royal father.

According to him, “this victory that we celebrate here today won’t have been possible without God, the Sultanate and others across the country.
“For us who are Christian minorities in the North, we should acknowledge that this victory we are celebrating here today was made possible by the intervention of the Sultan and others. We should know that there is new thinking in the North.

“We owe it a duty to make sure we unite our own part of the country and other parts of the country.

Why Fixing Refineries Can Save Buhari’s Economic Plan

If reports at the weekend are anything to go by, the Transition Committee set up by President Muhammadu Buhari, to among other terms of reference, advise his government on “quick fixes” which will result in tangible, visible and practical measures, has recommended that the country’s refineries should be privatised and fuel subsidies removed.

The recommendation is reform-minded and is in lockstep with several analysts, within and outside the oil sector, who for years have advocated the privatisation of the refineries and full deregulation of the petroleum downstream sector.

Even the Petroleum Industry Bill (PIB), which was first drafted by the administration of former President Olusegun Obasanjo and sent to the National Assembly, provides for the deregulation of the downstream oil sector, privatisation of the refineries, and establishment of regulatory bodies responsible for enforcing the relevant sections of the legislation.

However, the recommendation to sell the refineries is not a “quick fix”. For one, the unions in the Nigerian National Petroleum Corporation (NNPC) and its officials who have abused the inherent loopholes in the subsidy regime, would move against it.

They were instrumental to the pressure that was brought to bear in 2007 on the late President Umaru Musa Yar’Adua, who reversed the sale of the Port Harcourt and Warri refineries to private investors just before his predecessor left office. The same unions threatened again to embark on strike in 2013 when the Jonathan administration toyed with the idea of privatising the refineries.

A “quick fix”, by this we mean in the short to medium-term, pending the passage of the PIB, will be for Buhari to ensure that the refineries are functioning at 60 to 80 per cent of installed capacity so that at least 50 per cent of the country’s petrol requirement is produced locally. It is estimated that Nigeria consumes some 35 million to 40 million litres of petrol a day.

Okonjo, Nigeria’s Wahala by... Abba Mahmood

Dr Ngozi Okonjo-Iweala

Most people assume Dr Ngozi Okonjo-Iweala is an Economist. Very few people know that she read urban and regional planning which makes her a town planner primarily and not an Economist. She came from the World Bank with the discredited and outmoded theories of the Bretton Woods institutions that have consistently failed every nation where these theories were applied.

 Ngozi Okonjo – Iweala was not satisfied with being Finance Minister, she added a nebulous title called ‘Coordinating Minister of the Economy’ effectively taking over the duties of the president and especially the constitutional duties of the vice president, as well as putting her hands into the affairs of virtually every federal ministry.

No one would have cared if there was good performance. But the tenure of Okonjo – Iweala has seen the greatest plundering of Nigeria’s assets and resources. She dabbled into every aspect of the nation’s life, including going to Chibok to lay the foundation for classroom reconstruction when the community already had a school built by their state government and were only waiting for the federal government, which has the sole responsibility for security constitutionally, to help bring back their abducted girls, now more than a year in the hands of terrorists.


Today, the power sector has been privatised but the government also gave those private companies billions of public sector money in the name of intervention. Power outage is getting worse by the day, meanwhile conclusively proving that the electricity companies were sold to those lacking technical or financial skills to raise efficiency. There are no jobs for thousands coming out of schools annually. And, to make matters worse, while the oil price was very high, there was no saving by the government, instead the savings by the previous governments were depleted very fast, with virtually nothing to show for it.

The hottest place in hell should be reserved for Governors – Ben Murray-Bruce

Bayelsa state, senator-elect, Ben Murray Bruce has stated that the hottest place in hell should be reserved for Nigerian governors who have failed to pay the salaries of their workers.

Murray-Bruce who is chairman of Silverbird Group stated this in a series of tweets against the conduct of governors on his official Twitter page. “The hottest place in hell should be reserved for Governors who live large at public expense while workers with children have not been paid!,” he wrote.
It would be recalled that Governor Rochas Okorocha of Imo, Rauf Aregbesola of Osun, Isa Yuguda of Bauchi are some of the governors who fall into this category.
“As far as I’m concerned, until all state workers are paid their salary, no governor, no commissioner, no special adviser should collect salary or allowance,” Murray-Bruce stated.

Murray-Bruce also stated that: “It’s unacceptable for a governor who inherited a surplus from his predecessor to leave debt for the incoming governor and still want pension for life.”
He noted that he would push for the removal of immunity clause when the 8th Assembly gets underway, adding that, he was not in politics for the money.

“I’m not going to the senate to make money. I have much more than I need. I’m going there to serve God by fighting for the good of Nigerians.”
He then said: “Political parties arent your agent of change. These guys breath in PDP and breath out APC. NASS must Remove Immunity Clause for real change.

Jonathan, ministers jittery as May 29 approaches

President Goodluck Jonathan

THE President, ministers and aides seem to be jitery as the May 29 handover approaches.

Dr Goodluck Jonathan told ministers yesterday to brace for “persecution”. He gave no details.

It was all at a thanksgiving and farewell service in his honour at the Church of Nigeria (Anglican Communion), Cathedral Church of Advent, Life Camp, Gwarimpa, Abuja.

He was relective – he recalled how good the system has been to him – and grateful – for his achievements, which he said ordinary people appreciated.

But Jonathan seemed to betray the nervousness that has gripped his cabinet since it became inevitable that a new administration will mount the saddle on May 29.

He said his ministers would be persecuted, adding: “For ministers and aides who served with me, I sympathise with them; they will be persecuted. And they must be ready for that persecution.”

Jonathan went on: “To my ministers, I wish you what I wish myself. They will have hard times; we will all have hard times. Our ways will be rough.

“But we are happy the ordinary people appreciate what we did and that is most important. It’s not what the elite or the privileged few talk or say about you but what the majority of the Nigerian public think about your actions and inactions that matter.

“We came to Abuja peacefully and we are returning peacefully. I thank the church and Nigerians because they stood by us at our most difficult times.

“Even for election, we had people who supported us all over the country and for the success of the incoming administration.”

Recalling how good the system has been to him as an individual, President Jonathan said he was ready to pay the supreme price for Nigeria.

Dr Jonathan said having received scholarship to study and having been a major player on the nation’s political landscape in the last 16 years, including his six years as President, paying the supreme price would not be out of place.

Oronsaye Report ‘ll save Nigeria N860bn, says Okebukola

Prof Peter Okebukola

Former Executive Secretary, National Universities Commission, NUC, Professor Peter Okebukola, has urged the Federal Government to implement the Stephen Oronsaye Committee report, noting that it can save Nigeria N860 billion in two years.

Okebukola, who disclosed this during the 2013/2014 University of Lagos, UNILAG, Convocation Lecture held yesterday, described government’s recurrent expenditure as haemorrhage, insisting that there was need for urgent implementation of the Oronsaye report.

Delivering a lecture on Taking Advantage of a Depressing Nigerian Economy to Accelerate Socio-Economic Development, he said: “Inflated contracts cost Nigeria N569 billion at the Federal level and N350 billion at the state and local government levels in seven years.”

Recall that in 2012, the Federal Government set up the Oronsaye Committee to look into measures for streamlining operations of its various organs for efficient service delivery.

The report suggested a reduction of the size of government to a manageable level, considering that over 70 percent of resources were channelled into running a government that is unduly large and cumbersome to manage, leaving less than 30 percent for issues such as debt servicing and execution of capital projects.

According to the report, reducing the size of government has become imperative given that a large government has inevitably led to stunted development and a very high level of poverty in the country.

Suggestion for Buhari

The former NUC scribe, however, suggested that the incoming administration of General Muhammad Buhari(retd) should prune down public spending on governance by 45 percent.

Decrying the level of corruption and wastage in the economy, he suggested a benchmark of $45 per barrel of oil for the next two years.

Source: Vangguard

Former Executive Secretary, National Universities Commission, NUC, Professor Peter Okebukola, has urged the Federal Government to implement the Stephen Oronsaye Committee report, noting that it can save Nigeria N860 billion in two years.
Okebukola, who disclosed this during the 2013/2014 University of Lagos, UNILAG, Convocation Lecture held yesterday, described government’s recurrent expenditure as haemorrhage, insisting that there was need for urgent implementation of the Oronsaye report.
- See more at: http://www.vanguardngr.com/2015/04/oronsaye-report-ll-save-nigeria-n860bn-says-okebukola/#sthash.T9vRCgI2.dpuf

My plea for forgiveness not cowardice –Fayose

Ekiti State Governor, Ayodele Fayose

The Ekiti State Governor, Ayodele Fayose, has said his asking for forgiveness should not be taken for cowardice by his opponents, saying his tenure in office will be determined by God.

He said he took the step to seek a genuine reconciliation with the All Progressives Congress, whose 19 lawmakers in the state House of Assembly were plotting his impeachment.

The governor spoke on Sunday at the thanksgiving service organised for him at the Cathedral Church of Emmanuel, Anglican Communion, Ado Ekiti, to celebrate his electoral victory at the Supreme Court.

Fayose said, “I asked for forgiveness for reconciliation and to pursue genuine peace. Waiving the olive branch does not mean cowardice, it is for peace.

“Conspiracy is against God’s will. What better way could one seek peace other than asking for forgiveness.”

The governor advised the APC to emulate President Goodluck Jonathan who conceded defeat and saved Nigeria from disintegrating.

“When I contested for Senate they said I lost and I did not fight anyone. I did not go to the tribunal and I was saying good things about the government then. The opposition should be courageous enough to accept defeat. I follow Jonathan in and out of office. Jonathan gave up for survival of Nigeria. Jonathan prevented the prophecy that Nigeria would break up in 2015.

“I’m enjoying the mandate of God through his people and that cannot be controverted. My sin is because I allowed the common man to breathe the air of hope.

Xenophobic attacks: Nigeria counts losses

Following xenophobic attacks by South Africans against foreigners, particularly those of African descent, Nigerians have been counting their losses with the Nigerian Consul-General, Ambassador Uche Ajulu-Okeke saying the loss by Nigerians included looted shops, burnt shops, two burnt mechanic workshops, 11 burnt cars and two stolen cars, among others.

Speaking with News Agency of Nigeria, NAN on phone, Ambassador Ajulu-Okeke said “Nigerians have compiled damages to their property and it is totalling about 1.2 million Rand or N21 million, which will be sent to the Federal Government for further action”

She said that in Durban, two of the three Nigerians who were wounded during attacks had been treated and discharged from the hospital.

The consul-general said that she would go back to Durban to assess the situation on ground and meet with the provincial authority on security of Nigerians in that Province. “The Nigerian mission in South Africa is on top of the situation. We are working hard to protect Nigerians in South Africa.

“Though, the task has not been easy, we are trying our best. In one of the hot spots at Jeppe, near Johannesburg, the mission assisted about 50 stranded Nigerians to re-settle.

“I have also visited the site of the attacks in Johannesburg to assess the damage and it was enormous,” she said.

She said the Nigerian mission would meet with all Nigerian Union chapters in the nine provinces of South Africa to find strategies on how to check the attacks.

“I am bringing all Nigerians together so that we work out a vigilance and alert mechanism; they will also tell me what their challenges and issues are,” she said.

Okeke said the mission and the Nigerian Union had been working cordially to meet the challenges caused by the xenophobic attacks on Nigerians.

SAFA moves against xenophobia, plan football matches.

Why I’m not proud to call Buhari my president — Aribisala

Dr Femi Aribisala

Dr. Femi Aribisala, a pastor and Vanguard columnist, in this interaction with Vanguard editors, ventilates his passion for President Goodluck Jonathan and explains his position on the person and politics of the president-elect, Major-General Muhammadu Buhari. Excerpts:

What is your perspective on the just concluded presidential election?

This has been the most important political campaign I have witnessed in Nigeria. And the campaign will, to some extent, define the presidency. There were things that needed to be said, emphasized and brought to Buhari’s attention because we needed to remind him that some things would not be acceptable if he becomes the president. Buhari was made to go through a lot of phases. There were some things like the Muslim-Muslim ticket which some of us made so much noise about and they just had to drop it at some point. There were other things that Buhari did which he would not normally do because we made so much noise about his antecedents. Sometimes people simplistically define the process by the result. No! The whole debate is to make him understand that it is not what he had before. It was to make him realize that this is a democratic framework. It was also to sensitize him that certain things would not be acceptable.

How did you come about your claim that INEC rigged the election for Buhari?

There are certain things that are interesting about this election. The first one is that it is one of the most keenly contested elections that we have had in this country. It involved more people. But 10 million less people voted than last time, which gives us some idea as to how true some of the figures we have been having before had been. But the question is: Where did the decline of 10 million come from? I discovered that it came disproportionately in certain areas than it did in others. And to some extent, if you look at the PVC distribution, you can project the election. It is because Buhari could campaign in the South, but the North did not permit same kind of liberty for the president. The president was stoned in Buachi and he was threatened. By the time the pattern of PVC distribution became very known even in war-torn states, it was easy to know that it had been front-loaded. When you then analyze the election result itself, you will discover that some places just had an incredible suppression of voters in spite of high level of interest. Some people had an incredible number of voters. And I am still interested in why more people voted in the governorship election in Katsina than the presidential election.

Why I Conceded Defeat To Buhari – Jonathan

President Goodluck Jonathan

President Goodluck Jonathan has defended his decision to concede defeat to Muhammadu Buhari in the March 28 election, saying he was concerned about allowing his personal ambition scuttle a democratic system he helped nurtured, with the likely consequence of a “collective tragedy”.
Mr. Jonathan said Thursday that he needed to check his ambition, as the consequences of not doing so may have been dire not only for Nigeria, but Africa.

The president made the remarks during separate meetings with the new ambassadors of France, Senegal and Ethiopia. He was responding to commendations for his decision to promptly accept defeat after it became clear Mr. Buhari had won the polls.

“Democracy has to be nurtured to grow. Strong democratic institutions are the backbone and future of our democracy. They must be protected and nurtured. As for me, as a matter of principle, it is always the nation first,” Mr. Jonathan said.
“You need to have a nation before you can have an ambition. It should always be the nation first. You don’t have to scuttle national progress for personal ambition.

Confession Of Wicked Nanny Who Kidnapped Orekoya Boys (MUST WATCH)

Here is the video revealing the confession of the wicked nanny named Mary Akinloye but whose real name is Funmilayo Adeyemi of how she kidnap was carried out. She confessed that the dastard act was masterminded by her family.

Watch and learn from it

Picture of the Evil Nanny Who Kidnapped the Orekoya's Boys

Here is the picture of the notorious nanny that kidnapped the Orekoya's boys. Her name is Mary Akinloye and she kidnapped the boys eight days ago.

Speaking on Channels TV this morning, the Lagos state Police Commissioner, Kayode Aderanti, said she was arrested yesterday night but did not say where she was arrested.

The boys were found naked yesterday in a church close to their home.

Give us FCT ministerial slot – Igbos urge Buhari

Igbo businessmen in the Federal Capital Territory (FCT) have called on the President-elect, Gen. Muhammadu Buhari to consider the ethnic group for the post of FCT Minister.
Speaking at a media briefing in Abuja, the Chairman of Zaudan Pazeri Property Owners Association, Elder Friday Ugoala, said Igbos have massive investments, a factor Buhari should consider.
He recommended that an Igbo man should either be made a minister with an indigene as the minister of state or vice versa.

His words: “It is on record that Igbos are key players in terms ownership of property, merchandise and hospitality outfits in the territory, and can lay a claim to over 70 per cent investment in the FCT.
“We have reasons to demand for the slot of FCT Minister to ensure that our investments are protected. If you consider the outgoing administration of Sen. Bala Mohammed, you will see a lot of litigations that has to do with our investments. We do not want such trend to continue.

We even look forward to a situation whereby those issues in the court would be withdrawn and settled amicably.
“There are two major stakeholders in the FCT, the political and economic stakeholders; the indigenes fall on the political stakeholders because they control over 65 per cent of FCT population. So, it could be justice done to these two stakeholders, if the FCT ministerial slots are given to both of them with due respect to other residents.

Ex-militants among newly elected lawmakers in Rivers Assembly - Premiumtimes

Some of the dreaded Niger Delta militants, who accepted the Federal Government’s Amnesty, have been elected into the Rivers State House of Assembly, PREMIUM TIMES can authoritatively report.
The late President Musa Yar’Adua had in 2009 signed a Proclamation granting Amnesty to Niger Delta militants, who agreed to lay down their arms and embrace peace.

The deal offered an unconditional pardon and cash payments to fighters who surrendered their arms and assembled at screening centers located in many parts of the oil-rich region within 60 days.
It targeted up to 10,000 militants whose attacks in the six Niger Delta states cost the country a third of its oil production and revenue.

The amnesty which came to effect on Thursday, August 6, 2009, saw militant commanders, including Government Ekpemukpolo, alias Tompolo, Sogboma George, Ateke Tom, Farah Dagogo, Ebikabowei Ben, alias Boyloaf, Kile Selky Torughedie, alias the Young Shall Grow; surrendering their arms and returning to normal life outside the creeks.
But based on the result of last Saturday’s election released by the state Returning Officer, Faraday Orumwense, a professor of Material Engineering, the ex-militants are among the 25 candidates of the Peoples Democratic Party, who won the poll.

The ruling All Progressives Congress was only able to win a seat in the 32-members state legislature.
Citing widespread irregularities and violence, Mr. Orumwense declared elections in six state constituencies inconclusive. Among those who will be making laws for the oil-rich state are Farah Dagogo, an ex-general of a dreaded militant group. Mr. Dagogo, an indigene of Tombia community was dragged into the race by the Degema Political Front, a frontline political group and he will be representing Degema State Constituency in the assembly.

Adoki Tonye Smart, who will be representing Port Harcourt 11 State Constituency in the new assembly was a former field commander and second in command to Soboma George.
Late Mr. George was a dreaded militant leader who was shot by a rival gang in the Old Port Harcourt Township, months after he accepted the government’s amnesty. Chisom Promise Dike, who won the Oyigbo State Constituency seat in the assembly, is a strong ally of Ateke Tom, a self-styled General of the erstwhile Niger Delta Vigilante Forces.

Buhari and economy: Which way forward? ...By Henry Boyo

Henry Boyo

Expectedly, goodwill messages have, deservedly, poured in from far and wide to congratulate the clear victor of the 2015 presidential election, Muhammadu Buhari. The President-elect may not be unduly disturbed that President Goodluck Jonathan’s inspirational and totally unexpected early acceptance of defeat, ironically, favourably raised the incumbent’s rating as a statesman beyond the pedestrian perception induced by his performance in governance. 

Indeed, despite the complimentary economic growth rates, regularly, gleefully presented by the Minister of Finance, Ngozi Okonjo-Iweala, sadly, more Nigerians joined the already bloated poverty ranks. The horrid level of insecurity, apparently instigated by ethnic and religious divide, may in fact find their true origin in the pervading level of unemployment and poverty nationwide.

Consequently, expectations are high that Buhari will provide an antidote to poverty, corruption and unemployment. Clearly, Nigeria’s poverty cannot be blamed on an inhospitable climate or shortage of natural resources. In fact, other nations with considerably less natural endowments may be excused for decrying what they consider to be inexplicable inequity by Providence. Clearly, our inability to galvanise our resources for the greater good is actually caused by the application of fiscal and monetary strategies that are antagonistic to consumer demand, and job creation.

Conversely, nations like Singapore, with little or no resources, succeeded in enhancing mass social welfare with well thought out fiscal and monetary strategies that are people-focused. Consequently, if Buhari must succeed, he must quickly reverse the ratio between capital and recurrent expenditure, such that well over 60 per cent of total annual revenue projections would be dedicated to the enhancement of social infrastructure and human capacity. Thus, we must drastically reduce the prevailing humonguos salaries and allowances of public servants, particularly our legislators, who are reported to be amongst the highest paid in the world.

Certainly, Buhari would need to also reduce the duplication of functions by various Ministries, Departments and Agencies as per the recommendations in the Steve Orosanye report, but government must be careful to minimise the inflow of new entrants into a jobless market. Similarly, the President-elect should be wary of increasing the current debt to GDP ratio, as this is a straight road to another unfolding oppressive debt burden.

Buhari must tackle impunity, says World Bank

The World Bank spoke yesterday on Nigeria’s economic future, saying President-elect Muhammadu Buhari’s plan to tackle corruption will have consequences.
The bank projected a drop in the economic growth rate of Sub-Saharan Africa from 4.5 per cent in 2014 to 4.0 per cent in 2015.

The bank’s Chief Economist for Africa, Mr Francisco Ferreira, spoke during a video conference to inaugurate ‘Africa Pulse’, a World Bank Group analysis on issues shaping Africa’s economic prospects. The conference was monitored in Abuja
“I think it is very well spelt because institutions are built in parts on norms; one norm that has to be changed is the norm of impunity.

“I think the decision, hopefully, will have consequences for the future as institutions will be stronger and norms will be cleaner,” Ferreira said.
According to him, the downturn largely reflects the fall in the prices of oil and other commodities.
“The 2015 forecast is below the 4.4 per cent average annual growth rate of the past two decades and well short of Africa’s peak growth rates of 6.4 per cent in 2002 to 2008.
“Excluding South Africa, the average growth forecast for the rest of Sub-Saharan Africa is around 4.7 per cent”, Ferreira said.

Ferreira said an average decline, in terms of trade for Africa is about 18 per cent, a development he said, wouldlead to losses in purchasing power for the region.
He said that the decline in oil and commodity prices were among the challenges undermining the developmental gains made in the Sub-Saharan African.

How elections were rigged, by PDP, APC -Vangaurd

The struggle to win more governorships between the political parties, yesterday, shifted to the media with the two major political parties accusing each other of conspiring with the Independent National Electoral Commission, INEC, and security agencies to rig the governorship elections against them where they lost out.

The recriminations came as INEC declared governorship contests in Abia, Imo and Taraba States as inconclusive.

Meanwhile, the Nigeria Civil Society Situation Room, a coalition of 60 civil society organisations, yesterday urged INEC to clinically scrutinize results from Abia, Akwa Ibom and Rivers States. The coalition in a statement, yesterday particularly affirmed that there was sufficient reason to “question the credibility of the elections results in Rivers and Akwa Ibom States.”

Echoing the CSOs, the European Union, EU, Election Observation Mission, EU EOM, pointed at Rivers and Akwa Ibom States as the two most outstanding states where the elections were marred by violence and deliberate interference.

How elections were manipulated in Akwa Ibom, Rivers —APC

Briefing newsmen in Lagos, yesterday, on the outcome of the elections, the National Publicity Secretary of the All Progressives Congress, APC, Alhaji Lai Mohammed, painted a picture of how, according to him, the elections in Rivers and Akwa Ibom were manipulated by the Presidency and the Peoples Democratic Party, PDP.

He said the party was left with no option than to call for the cancellation of the election conducted in the two states.

Explaining how the elections were manipulated, in the two states, he said: “As you would recollect, our party’s chapter in Rivers had written a petition complaining of the crass partisanship of the Rivers State Commissioner of Police in the Presidential and National Assembly elections held on March 28. Because of this petition, the Inspector-General of Police, Mr. Suleiman Abba posted three Commissioners of Police from the Force Headquarters to oversee the April 11 Governorship and House of Assembly elections in Rivers State but as soon as the President learnt of this development, he directed the IGP to reverse the decision and instead requested that AIG Tunde Ogunsakin be posted to oversee the April 11 elections in Rivers State.