Tambuwal Rejects Plea By Tukur, PDP Governors To Declare Seats Of Defectors Vacant

Speaker of the House of Representatives, Aminu Tambuwal, in the early hours of Friday brushed aside pleas by the leadership of the Peoples Democratic Party (PDP) as well as the party’s governors to declare the seats of 37 PDP lawmakers who recently defected to the All Progressives Congress (APC) vacant.
The speaker’s resistance came at the meeting the PDP’s national chairman, Bamanga Tukur, and members of the party’s National Working Committee (NWC) had with several top lawmakers at the Hilton Hotel in Abuja. The meeting started Thursday evening (Nigerian time) and ended in the early hours of Friday.
Mr. Tukur, who arrived at the venue of the meeting with some members of the party’s NWC, set the ball rolling by telling the lawmakers that the meeting would be frank. Before journalists were asked to leave the venue of the meeting, the PDP chairman stated that the meeting was a family affair. Speaking in a similar vein, the House Leader, Ms. Mulikat Akande, said the meeting would create a synergy between the legislators and the leadership of the party.
Two sources who attended the meeting told SaharaReporters that atmosphere became tense when Mr. Tukur demanded that the seats of the defected lawmakers should be declared vacant. “A majority of the lawmakers shouted him down,” said one source.
Exasperated, the national chairman placed a telephone call to Governor Godswill Akpabio of Akwa Ibom State. Our sources said the governor rushed to the venue of the meeting with his counterparts from Bauchi (Isa Yuguda), Katsina (Ibrahim Shema) and Cross River (Liyel Imoke). Governor Seriake Dickson of Bayelsa also joined the meeting later.
The atmosphere at the meeting was so charged that neither Speaker Tambuwal nor Governor Akpabio was enthusiastic to speak to the media at the end of the parley.
Mr. Tukur’s media aide, Oliver Okpala, did not allow most of the gathered journalists to ask Mr. Tukur any questions at the end of the meeting. Mr. Okpala only allowed a reporter from the government-owned National Television Authority (NTA) to ask Mr. Tukur two inconsequential questions.
Approached by reporters, Governor Dickson stated that Mr. Akpabio was the person to speak. However, Governor Akpabio ran from one exit door to another in order to avoid reporters.
SaharaReporters learned that, prior to meeting with the legislators, Mr. Tukur had met behind closed doors with the party’s governors at the Akwa Ibom Governor’s Lodge in Asokoro, Abuja. A source at the meeting told SaharaReporters that many of the governors were not happy with Mr. Tukur’s management of the political crisis that has torn the party apart.
However, after the meeting, one of Mr. Tukur’s aides, Cairo Ojugboh, told some reporters that the governors had passed a vote of confidence in Mr. Tukur. “What Cairo Ojugboh told the media is a fabrication of what happened at the national chairman’s meeting with the executive governors,” one source said.

Beyonce finally reveals why she featured Chimamanda Adichie in her new album

Multiple award-winning American singer, Beyonce Knowles has explained why she featured Nigerian writer, Chimamanda Adichie in her new album. Explaining why she featured the Half of a Yellow Sun author in one of her songs entitled: Flawless, Beyonce in a chat with UK Mirror said, “I was going through videos on feminity on Youtube, when I came across this video of this incredible Nigerian author, Chimamanda Adichie. “Everything she said is exactly how I feel. My message in this album was finding the beauty in imperfection,” Bey continues. “I had this image of this trophy and me accepting these awards and kind of training myself to be a champion and at the end of the day when you go through all of these things, is it worth it? I mean, you get this trophy and you’re like, ‘I basically starved, I have neglected all the people that I love, I’ve conformed to what everybody else thinks I should be and I have this trophy. What does that mean? “The trophy represents all of the sacrifices I made as a kid, all the time I lost being on the road in the studios as a child and I just want to throw that s**t up!” The star also spoke about her daughter, Blue Ivy and hubby Jay Z, and what she’s up to lately. Hear her, “I have a lot of awards and I have a lot of these things that are amazing and I worked my ass off, I worked harder than probably everybody I know to get those things, but nothing feels like my child singing ‘mummy’.” The megastar mum-of-one then goes on to say she’s striving for for love, happiness and fun. “No, nothing feels like when I look my husband in the eyes, nothing feels like when I’m respected, when I get on the stage and I see I’m changing peoples lives. Those are the things that matter and at this point in my life that’s what I’m striving for – growth, love, happiness, fun.” She also gave one final piece of advice to her fans, “Enjoy your life – its short. That’s the message!” she added.

Sheik Gumi Reacts Says Iyabo Obasanjo As ‘Victim Of Westernization’

Gumi

Sheik Ahmad Abubakar Gumi said today that Iyabo Obasanjo, Chief Olusegun Obasanjo first child who wrote a scathing letter against him on Tuesday, is a victim of Westernization.
The respected cleric made the observation in a social media post, in which he described it as “apolitical, irreligious and un-African,” noting that the letter had exposed the Obasanjo family feud.
“The letter became a distraction from a previous one written by her father addressing very important national issues,” Gumi wrote.  “Obasanjo is not a saint, neither is she one nor most Nigerians are.
But what is worth noting is that, at a crucial time when the nation is gripped by official criminality of bloodshed, financial misappropriation, and moral decadence she now sees the opportunity to blast her father.”
He expressed the view that the letter also shows Iyabo lacks proper religious upbringing.
“This is the segment that stirred my attention. I don't think any person with proper religious upbringing will ever do that to his parent. I once heard in the CNN a British girl calling her Yemeni father an evil man because he took her sister back to Yemen to marry.  Evidently afraid for his daughter the moral decadence of the Western society. Iyabo is a victim of westernization. One thus wonders what the Western life does to humanity.”
The cleric argued that respecting one’s parents is among the Jewish ten commandments which was also endorsed by Jesus, “Thou knowest the commandments, Do not commit adultery, Do not kill, Do not steal, Do not bear false witness, Defraud not, Honour thy father and mother” Mark:10:19: and in Matthew 15:4: “For God commanded, saying, Honour thy father and mother: and, He that curseth father or mother, let him die the death.”

Source: Sahara reporters

Ex-CJN writes Jonathan, accuses president of unjustly treating Justice Salami

A letter from a former Chief Justice shows how President Jonathan turned down advice from the National Judicial Council on the Salami case

President Goodluck Jonathan brushed aside recommendations from the National Judicial Council and the Chief Justice of Nigeria to sack former Appeal Court president, Ayo Salami, ignoring firm arguments by the two authorities that Mr. Salami was innocent of allegations against him.

The two authorities are mandated by law to advise the president on such judiciary matters.

The government accused Mr. Salami of professional misconduct, but he is widely believed to have been punished for political reasons.

A letter to the president by former Chief Justice of the Federation, CJN, Dahiru Musdapher, obtained by PREMIUM TIMES, shows how the top echelon of the nation’s judiciary laboured to have President Jonathan realize Mr. Salami’s innocence in his dispute with Mr. Musdapher’s predecessor, Aloysius Katsina-Alu; and how they advised that punishing Mr. Salami would terribly dent an already integrity-deficient judiciary.

In the four-page letter, dated January 27, 2012,  Mr. Musdapher informed the president how a committee he named to review Mr. Salami’s suspension in 2011 absolved him, and made it extensively clear why ensuring justice on the case- by reinstating Mr. Salami- was crucial for a judiciary bereft of public confidence.

 “Your Excellency, this report is not only before the National Judicial Council, it is also at the court of public opinion,” Mr. Musdapher said of the findings of the review committee. “And Mr. President will agree with me that this recommendation no doubt should challenge our commitment to the redemption of the image and credibility of the judiciary.”

Mr. Musdapher told the president that the committee, led by another former Chief Justice of Nigeria, Mohammed Uwais, found Mr. Salami not guilty of any of the misconducts he was accused of, and recommended his immediate reinstatement.

“There was no evidence before any of the National Judicial Council panels or in any of the petitions to justify any findings that Salami PCA contravened the code of conduct for judicial officers by talking to the mass media,” he said in his etter to the president. “…On the whole, there was no evidence to show any form of misconduct on the part of Salami PCA to justify any sanction or punishment.”

The committee, Mr. Musdapher informed Mr. Jonathan, also recommended that “…in order to maintain the integrity of the judiciary and to assuage public feeling and restore confidence in both the bar and bench, this committee strongly advises the Chief Justice of Nigeria and National Judicial Council to reconsider its earlier decision on the suspension of Justice Salami PCA and reinstate him back to his position as soon as possible and in that way assure the public that the suspension of Justice Salami as the President of the Court of Appeal is not ill motivated.”

The former Chief Justice’s letter to the president came ahead of an official recommendation by the National Judicial Council, that Mr. Salami be recalled.

Both calls were rejected by the president.

Mr. Jonathan’s firm refusal to reinstate the judge, who finally retired October 2013, spurred widespread allegations that the president’s decision was politically-motivated beyond the professional breach the government claimed as its reason for suspending him. Mr. Musdapher’s letter appears to back that claim.

Justice Salami’s suspension in 2011 was linked partially to his refusal to be elevated to the Supreme Court. More specifically, he was punished for speaking to the media and accusing Mr. Katsina-Alu, who was CJN at the time, of attempting to interfere in the Sokoto state’s governorship election case that was before the Appeal court.

He was suspended by the NJC for refusing to apologize to Mr. Katsina-Alu.

Mr. Salami’s case became a sore point for political outfoxing between the governing Peoples Democratic Party, PDP, and the defunct opposition Action Congress of Nigeria, ACN (now All Peoples Congress, APC).

The PDP accused the former judge of working for the ACN, hobnobbing with its leaders and dispensing judgments deliberately skewed in favour of the party. Mr. Salami had presided over the Court of Appeal’s upturning of governorship elections in Osun, Ekiti and Edo States, decisions he based on evidences showing that the sacked PDP governors in those states were beneficiaries of rigged elections.

The PDP said there was evidence of telephone calls between leaders of the ACN, and the judge.

While the ACN, now APC, spoke in defence of Mr. Salami, the ruling PDP, President Jonathan’s party, backed Mr. Katsina-Alu with a spokesperson for the party, Olisa Metuh, recently accusing Mr. Salami of lying against the former CJN.

Reflective of the political tinge of the controversy, Mr. Salami was suspended August 18, 2011, just as the Court of Appeal was hearing a suit brought by the presidential candidate of the defunct Congress for Progressive Change, CPC, Muhammadu Buhari, against President Jonathan’s election.

Mr. Salami’s suspension was approved by the president even while the matter had gone before a court.

After Mr. Katsina-Alu left office, his successor, Mr. Musdapher ordered a review of the case. The Uwais panel found Mr. Salami not guilty, and rather, it criticized Mr. Katsina-Alu in his capacity as CJN then.

Mr. Musdapher’s letter provides an insight into how President Jonathan turned down recommendations for Mr. Salami’s recall, rebuffing detailed presentation from the Chief Justice, and the NJC. The NJC is mandated by the constitution to advise the president on such matters.

In his letter, Mr. Musdapher warned that the judiciary was already suffering a damning public opinion deficit nurtured by perceived impunity and corruption, and that the Salami case, if not well addressed, could only exacerbate that perception.

“And Your Excellency would agree that it is judicial schisms of this nature, and not necessarily the paucity of administrative or judicial infrastructure, that overstretch the ethical and moral fiber of our judiciary, robbing it inevitably of the confidence of the public.”

On May 10, 2012, five months after the letter was delivered to the president, the NJC officially voted 10 to 8, in favour of recalling Mr. Salami eight months after he was suspended.

At the time, judiciary officials who spoke to PREMIUM TIMES said the plan was for the former Appeal Court president to be reinstated and made to serve three months before retirement as his case had severely polarised the ranks of the judiciary.

Weeks later, the Attorney General and Minister of Justice, Mohammed Adoke, said Mr. Jonathan would not act since the matter was already in court, again raising eyebrow since the same government approved Mr. Salami’s suspension even while a court was considering the case. Mr. Musdapher noted that point in his letter.

“Firstly, the National Judicial Council, NJC, took action on the matter when it was subjudice,” he said. “Normally we do not take decisions on matters before us which are pending before the court.”

Throughout the episode, opposition leaders accused the president of being pressured by PDP officials not to heed the recommendation of the NJC.

That concern grew after an Abuja-based lawyer, Amobi Nzelu representing one Wilfred Okoli, rushed to the Federal High Court in Abuja, shortly after the NJC’s recommendation, asking the court to restrain the president from accepting them, because the “recommendations were not binding”.

Mr. Nzelu, who became known after handling the infamous Apo six killings of 2006, said while the NJC had powers to recommend the removal of the President of the Court of Appeal, it lacked power to recommend his reinstatement.

Curiously, officials of the federal government circulated his court papers to the media.

Source: Premium Time

Reps Disrespect Okonjo Iweala Over Nigeria Economy

The House of Representatives finance committee walked out the minister of finance, Ngozi Okonjo-Iweala, Thursday, after a brief but stormy session in which lawmakers tasked the minister with 50 questions on the state of the Nigerian economy.
Mrs. Okonjo-Iweala had earlier presented the budget proposals for 2014 to the Senate and the House of Representatives, before meeting the house finance committee.
The minister said she was indisposed and only responded to her invitation out of respect for the legislature.
But when lawmakers offered to excuse her due to her health, but with a condition she responds to 50 questions in writing within two weeks, the minister backtracked choosing instead to answer the questions at the meeting.
Exchanges between the minister and the committee chairman, Abdulmumini Jibrin, quickly escalated with Mrs. Okonjo-Iweala accusing the committee of being disrespectful.
“With all due respect, I will not tell your committee that I’m feeling fine when I’m not. We have had good working relationship with your committee; I thought we’ll be treated with courtesy, but the way you’re starting is a bit disturbing,” the minister said.
Mr. Jibrin said the committee had ruled that she be allowed to go and respond to the questions.
“We don’t want any haphazard answers,” he said.
The minister insisted on being heard, but was asked to leave.
“I’m sorry Honourable Minister. You can only decide what happens in the Finance Ministry and not in the House,” Mr. Jibrin said.
Read the lawmakers’ 50 questions below:

House Committee on Finance

Questions for the HMF/CME on the State of the Economy

1.     What should you consider as the major economic achievements of this government in the 2013 fiscal year and why? In your explanation, we will need facts and figures in demonstrating such achievements.
2.     You have been credited with many announcements regarding Nigeria’s economy as one of the fastest growing economies in Africa. If the economy is one of the fast growing economies, what is exactly growing the economy? What role does government play in the said economic growth, especially given that as high as 80 percent of the country’s total annual budget spending still goes into recurrent expenditure?
3.     Since your arrival as minister of finance in 2011, you have publicly announced the need to reduce the recurrent expenditure so that more money would be made available to capital spending which is critical to growing and diversifying the country’s economy. How far has government succeeded in making these necessary cuts; and where exactly have these cuts been made in this effort to reduce recurrent expenditure? In other words, based on real amount spent on capital expenditure, how much reduction was made in 2011 against 2010, in 2012 against 2011 and in 2013 against 2012?
4.     You are known to be celebrating a single-digit GDP growth. But speaking recently at a breakfast dialogue with some members of the organized private sector in Lagos, organized by the Nigerian Economic Summit Group (NESG), you were quoted as saying: “We are growing, but not creating enough jobs. That is a very big challenge…We need to grow faster.  I think it needs to grow at least 9 to 10 percent to drive job growth the way we want.” Don’t you agree that a good finance minister managing an economy like ours should be celebrating a GDP growth as high as 20 percent annually? Why is it that our economy cannot grow beyond a single digit? How many jobs are being created as a result of these said growths? In which sectors of the economy are these jobs created? If in private sector, what contributions is government making to further assist these private sector firms?
5.     In the presence of Nigeria’s huge infrastructure deficit, why is it that the country’s debt-to-GDP at about 19 percent in 2012 remains one of the lowest in the world when compared to nations already with world-class  infrastructure and industrial economies such as America’s 105 percent, Brazil’s 65.49 percent, India’s 67.60 percent,  and South Africa’s 40.9 percent?
6.     Since facts don’t lie, have you any disagreements with the September 4, 2013 Global Competitiveness Report of the World Economic Forum for 2013-2014, which ranked Nigeria 120th out of 148 countries ranked in the Global Competitiveness Index, including being ranked far behind some African countries such as Mauritius 45^th, South Africa 53^rd, and Kenya 96^th?
7.     ”For the first time in Nigeria’s 53rd year history, we have successfully privatized the electric power industry,’’ so said the President at a recent meeting in London with some foreign investors. As minister of finance should you agree that the recent privatization of the country’s power infrastructure is worth celebrating as a major economic achievement in 2013, when in reality there is little or nothing to show as an improvement in the country power supply? Also why our rush to wholesale privatization of the power sector when countries like South Africa, generating as high as 42,000MW still have their power sector mostly in public hands?
8.     What was your reaction to the November 12, 2013 statement credited to the World Bank Country Director for Nigeria, Marie-Francoise Marie-Nelly, who said that over 100 million Nigerians are today living in absolute destitution, representing an unheard-of 8.33 percent of the world’s total number of people living in destitution?
9. Nigerians are increasingly perplexed that these days nothing happens without government borrowing. And for most Nigerians, it is frightening how those managing the economy are just dragging us into excessively unproductive debts. More worrisome is the fact that every effort is being made to hide the details of the country’s debt stock from Nigerians. Where are the facts that the country’s current high rate of borrowing is productive, let alone have the ability to be repaid without having to resort to more borrowings?
10. Is prudence in our borrowing simply reduction in borrowing or simply constructive borrowing with government putting necessary measures in place to ensure that domestic debt profile is properly supervised and utilized by curbing corruption?
11. From Debt Management Office (DMO) 2012 Annual Report, the total public debt outstanding between 2008 and 2012 for external stock rose from $3.72bn to $6.53bn, while domestic stock rose from $17.68bn to $41.97bn. The total debt service the same period saw the percentage of external debt service drastically reduced from 11.46 per cent to 5.96 per cent while the percentage of domestic debt servicing grew from 88.54 per cent in 2008 to 94.04 per cent in 2012, drastically increasing the cost of the total debt service since the cost of domestic borrowing is atrociously higher than the cost of external borrowing. How could your debt sustainability analysis rationalize this without seeing some narrow interests being the overriding reason? Could this be the explanation why commercial banks in the country are declaring unheard-of three digit profits and the high Foreign Portfolio Investment and low Foreign Direct Investment?
12.It’s an established fact that the willingness and ability to borrow do not automatically translate into economic growth. If you agree with this fact, how productive are the country’s recent borrowings?
13. Why should our internal debts continue to represent more than two-thirds of Nigeria’s external debt profile, when the cost of servicing domestic debts is ridiculously far more expensive than servicing external debts? Why should government continue to borrow internally when in so doing results in insufficient funds, skyrockets the cost of borrowing and above all, crowds out the real sector from the money market? Shouldn’t the high cost of domestic borrowing override whatever are the assumed benefits? Since both London Interbank Offer Rates (LIBOR) and the US Treasury Bonds rates offer far better interest rates for sovereign borrowings, why have we continued not to take advantage of cheaper interest rates?
14.  Your references to the country’s economic growth profile have always been based on Fitch, Standard and Poor’s, and Moody’s ratings. Are you aware that these same rating agencies are being sued in New York (with case # 652410/2013) by two Bear Stearns hedge funds for fraudulently assigning inflated ratings to securities in the run-up to the 2008 financial crisis? If you do, why do you insist on accepting the rating as reliable.
15. How much exactly has been the amount of money lost in government revenue as a result of import duty waivers in 2011, 2012 and 2013? Provide the names and beneficiaries and justification for same. In your opinion as the minister of finance who oversees the economy, what are the implications to the country’s economy? What efforts have you have made to stop this waiver policy, which is distorting the economy? Our non oil income has dropped in 2013. A case where increased tariffs on various items effectively reduced importation to zero in some sectors. However, those items now find their way into Nigeria through our borders. Does it make any sense to increase these tariffs when we have such porous borders? As an example, officially, Togo imported more rice this year than Nigeria.
16.  It was reported that the FIRS is to engage foreign consultants for tax collection in 2014. Could the Minister clarify this position and what Nigeria stands to gain? Have the FIRS not been working effectively.
17. Do you really believe that Nigeria needs a ‘Sovereign Wealth Fund’ at this critical juncture of budgetary deficits, and having to be borrowing extensively in an effort to address government revenue gaps? Shouldn’t the presence of Nigerian Sovereign Investment Authority (NSIA) simply mean spreading government’s scarce resources thinly? Why will you insist that no matter what we still need to operate a sovereign wealth fund? Sincerely speaking, how sustainable are the objectives of Nigeria’s Sovereign Wealth Fund, particularly in the long-term?
18. You should agree that a lot of Nigerians are interested in the link between NSIA and the government. Since there is no doubt that Nigerian Sovereign Investment Authority is an agent of government — or is it not? The question is: How should we think about the management structure in so far as major decisions are concerned? Where is the line between NSIA, as a commercially minded entity, and the government, especially given government’s policy of having no business doing business? If, for example, government does not get involved in specific investments, then, who appoints the external managers involved in managing some parts of the NSIA funds?
19. Who determines the investment objective and who establishes the risk parameter for the NSIA’s portfolio? In providing answer to this question, it is also important to understand and explain why NSIA recently hired a Swiss national as its chief portfolio investor? Answering this question is important since it should help us to know who determines the maximum draw-down that the government would be comfortable with in extremely negative market environments.
20. What should be your explanations for awarding MasterCard a multimillion dollar National Identity Smart Cards, when there are indigenous ICT companies that not only have what it takes but would have done it cheaper and create local jobs at the same time?
21. Have you taken into considerations how foreign company could use such information available to it to invade the privacy of Nigerians?
22. What are reasons for SURE-P to give preference to Chevrolet cars for SURE-P taxis, when it is known that not only are such cars very expensive to maintain compared with Asian and European cars, but also are also not fuel efficient and not durable on our roads?
23. Honorable Minister of Finance, you will agree that SURE-P is very important to the people of this country, taking into cognizance that it is the only thing they stand to gain from the increase on petroleum product pump prices almost 2 years ago. Who is in charge of the management of SURE-P and who takes responsibility for its successes and failures?
24. You will agree that inasmuch as the interest rate regime is critical to the real sector borrowing decisions, most principal factor in making borrowing decisions is the business’s expected rate of return on investing borrowed money? The question, without efforts to protect local businesses from their foreign counterparts, the high cost of doing business in Nigeria, puts them at such a disadvantaged position that it makes no economic sense borrowing to invest in their local businesses, why should we expect private sector firms to be investing in the economy?
25. You are quoted as saying, ” Very soon, the US would become a net exporter of oil…So, it would be disingenuous for anyone to say that just because the price of oil has hovered at around $100 per barrel, it cannot crash…Lest we forget, as recently as 2008, oil prices crashed from a peak of $147 per barrel to $35 per barrel ina space of months triggered by the global financial crisis. Is the minority leader saying he has forgotten that?” This forces one to wonder from which source should the US become that net exporter of oil, given that the US daily oil consumption was 18.7 million barrels with (10.6 million of which was imported daily) in 2012? Or, should it be from the shale oil which the International Energy Agency (IEA) demonstrates to be at two million barrels daily? In other words, given the IEA global oil price trajectory, can’t we agree that “There are many constraints on supply keeping pace with demand’’ which means that within this decade, oil prices should always hover around $125 per barrel? Answering this question will help us understand why you insist on benchmarking the oil price for the 2014 appropriation at below $79 per barrel? In answering this question, would you also agree that as the global economy shifts from West to Asia, so will the appetite for global oil consumption shift from the West to Asia?
As crude oil continues to sell at $100-$110, how low will production have to fall for us to record a net loss or at what production level can we break even at a 2013 benchmark of $79.
26. Do you agree that the Excess Crude Account as being operated by government is illegal and unconstitutional, especially given how it has been managed?
27. Can you explain with clarity how the ECA is being operated? Also provide a statement of account of the ECA from 2011 to 2013? Also how much have we made in excess of the benchmark price from January 2013 till date.
28. If there is nothing like Excess Crude Account, would you have been demanding lower oil price benchmark for the budget, especially when the executive arm of government around world is known for demanding more money from lawmakers in order to be able to meet government spending obligations, particularly capital spending. Why is the reverse the case in Nigeria only, notably since 2011?
29. With respect to the Excess crude account and our Sovereign wealth fund again, there have been allegations and counter allegations on its legality. Assuming, for the sake of the committee’s enlightenment, the FGN alone saved its own excess in its ECA/SWF (which is about 52% of the Federation account) and the states and LGs get their funds in full compliance with the constitution, what would be the effect on the economy?
30. Do you believe in the fight against corruption? If you do why has EFCC not been proper funded? Without properly funding the commission, how should it be expected to carry out its duties effectively?
31. Can you confirm with figures if we have met our cumulative revenue projections for 2011, 2012, 2013, and if we have, how and if we have not, why? Also provide backup performance information under the various revenue generating agencies—NNPC (Oil and Gas), DPR, FIRS, Customs, Independent Revenue and other anticipated and unanticipated revenues e.g. privatization and sales of government properties etc.
32. As Minister of Finance, are you familiar and comfortable with all the present business arrangements of the NNPC? Why were these business arrangements excluded from the MTEF which used to be the practice? Provide all the present business arrangements, the parties involved, the share of each party, and justifications for such.
33. Provide details of government stake in NLNG. All categories of revenue under the NLNG and total amount generated so far and evidence of remittances.
34. Why do you always prefer a lower benchmark which leaves government with wider deficits and your attitude of no qualms with domestic borrowings at excessively high interest rates to balance deficit as against our position of increasing benchmark to reduce deficit which consequently reduces domestic borrowing, that frees up funds for the real sector of the economy, thereby bringing down the interest rate, increased private sector investments and creating jobs.
35. What is the total amount expended by certain statutory agencies of government without appropriation for 2011, 2012, and 2013? Also provide aggregate appropriated expenditure for the same period. As the Coordinating Minister of the Economy, do you feel comfortable with allegations that almost equal amount of our yearly aggregate expenditure is being spent without appropriation, yet we are crying that the country is running short of revenue?
36. Between May 7 and 9, 2014, it is expected that Nigeria will be hosting World Economic Forum on Africa. Who will finance this event and why? In concrete terms, what are the expected tangible benefits to the country in return to justify hosting such expensive event that will require lots of money for logistics, accommodations, security, especially given that South Africa that recently hosted the event has nothing to show for it.
37.  If you should for any reason say it will attract foreign investors, the question, then becomes, what kind of foreign investors are we talking about here because as we all know, no serious foreign investor needs to attend such a forum in Nigeria in order to recognize that our country should have been one of the world’s favored investment destinations had our perennial infrastructure deficit been addressed head-on?
38. Most of the developing economies like China, India, and Brazil that the world is today celebrating as economic success wouldn’t have become this successful without adopting multi-year development plans. Why after knowing that their successes are as a result of carefully designed multi-year economic planning, we are yet to adopt such a multi-year development model? In other words, why wouldn’t you agree that Nigeria too needs that in order to move faster and more sustainably in its quest for industrialization and economic diversification and job creation for millions of the country’s unemployed young men and women?
39. As the Coordinating Minister of the Economy, can you precisely clarify how much is AMCON’s debt exposure  and what will its defaulting mean to the country’s economy?
40. Why are we using the 10 to 15 years moving average to arrive at your 2014 proposed benchmark as against the traditional 5 to 10 years moving average we have always used? Is it because using the 5 -10 year average will not give you the benchmark price you desire?
41.  This time last year you informed this committee that our external reserve position was about $48 billion and the balance on our excess crude account was about $9 billion. You also said that the plan was to grow these balances to about $50 billion and $10 billion respectively. However we are hearing that the balances have dropped to $43 billion and $3 billion respectively. And you are saying all is well?
42. Crude oil projections for 2013 were 2.53 million barrels per day while actual figures as supplied by the NNPC/DPR/MTEF have averaged about 2.3 million barrels per day giving a shortfall of about 9%. Could this alone have caused such a drastic reduction in our reserves and savings positions?
43. Is any money missing from our anticipated revenue from the NNPC in particular and oil industry in general. If there is, how much? If not, how come such issues emanate from high offices in the executive arm of Government?
44. Referring to the pre-shipment inspection of exports act of 1996 and the Federal ministry of Finance export guidelines. If any good (oil, gas or non oil) is exported from Nigeria the exporter is compelled to repatriate these proceeds through the domiciliary account of a Nigerian bank. What has been the effectiveness of these laws? Is there full compliance.
45. If there has not been compliance, would it not make it difficult for us to build up our foreign reserves? Could we not say that the main thrust of the CBN letter was that our foreign reserves are not growing even though there has been a consistent high selling price of crude due to the fact that huge funds are not being repatriated at all or are repatriated through the black market?
46. Could we say that the issue is not so much that money is missing (which is yet to be determined) but that proceeds that should have found their way back to the Nigerian economy have grown wings or they fly in through the black market, allowing oil industry players have a field day making spreads of up to N7 per dollar in some cases.
47. What is the Minister’s take on the apparent stagnation of the economy as there seems to be very little job creation and growth in small businesses. Even though the Minister has read out growth figures before it is not telling on the average man on the street.
48. Would the Minister say that the various Government initiatives at job creation have not lived up to expectation as they affect only a very small part of the population?
49. Wouldn’t the Minister think that the private sector should be the main driver of job and wealth creation through natural growth of business and start ups being financed by the banking industry?
50. If so, what does the Minister think it would do for the local banking industry if this same pre-shipment inspection law and your own export guidelines are enforced to the letter. The oil industry in Nigeria is worth about $50 billion per annum. If even $10 billion of this passes through our local banks wouldn’t that give the economy a boost with banks now able to fund longer term and bigger projects?

PDP Working Underground To Woo Shekarau Following Clash With Kwankwaso Over APC

A competent source in the know of the Peoples Democratic Party (PDP) survival strategy to redeem its dwindling fortunes has confirmed that the party is working underground to woo into its fold the immediate past governor of Kano State, Malam Ibrahim Shekarau.
The PDP’s emissaries, according to the source, have been meeting with Shekarau’s close associates.
Shekarau is presently in a power struggle over the soul of the All Progressive Congress (APC) in Kano State with Governor Rabiu Musa Kwankwaso.  Aside from their recent feud over gratuity, Shekarau alleged Kwankwaso stopped him from benefiting adequate retirement gratuity.
On the possibility to woo Shekarau to the PDP, our source said it was the only thing that would balance the politics of Kano, adding that Vice President Namadi Sambo was leading the move.
“Mind you we have people from Kano like Ghali Umar Na’abba, Abba Dabo, Akilu Indabawa and others who are with us,” he said.  “Now if we have Shekarau it will give the APC a good fight and [we will] eventually triumph over them, in view of [the] confusion that will [encircle] them. Just wait and see.”
He did not say what would be the outcome should Shekarau, who expressed a lot of progressive positions during the 2011 presidential contest, refuse to join the PDP, stressing that Kwankwaso and Shekarau could not possibly work harmoniously in Kano APC.
“There are wounds and scars beyond what you can imagine. Even yesterday Shekarau protested to the national leadership of APC, because it is Kwankwaso that has taken over [the] machinery and not him.  Kwankwaso’s power is real and there is no place to accommodate Shekarau and his camp,” he said.

Source: Sahara reporters

Instagram launches ‘direct’ individual messages

Facebook’s photo-sharing service instagram now allows users to send photos or videos to up to 15 individuals.

Instagram, which was bought by facebook for $1bn, has announced that users can now send photos or videos to individuals or up to 15 recipients. The original service allowed users simply to publish their own films or photos to a stream that was visible to their followers.

Instagram Direct allows users to send messages to people who follow them, and adds a stream of ‘pending’ requests from other users. “Sometimes you want to be able to share not with everyone but with a specific group – you can’t really do that with Instagram today”, said co-founder Kelvin Systrom. “Instagram Direct is a simple way to send pictures and videos to your friends”.

The rise of instant messaging services such as Snapchat and BBM has made the area a particular focus for a host of new companies but instagram, with 150million users each month, remains one of the largest.

Writing on the instagram blog, the company said, “There are moments in our lives that we want to share, but that will be the most relevant only to a smaller group of people – an inside joke between friends captured on the go, a special family moment or even just one more photo of your new puppy.

Instagram Direct helps you to share these moments”.

The new app will show users who have seen photos they have shared with individuals, and update if they indicate that they like it. The company added: “When you open Instagram , you’ll now see a new icon in the top right corner of your home feed. Tap it to open your inbox where you will see photos and videos that people have sent to you.

To send a photo or video to specific people, tap the camera button to enter the same simple photo or video capture and editing screens.

At the top of the share screen, you’ll see the option to share with your followers (“Followers”) or to send to specific people (“Direct”).

To send using Direct, tap the names of the people you want to send your photo or video to, write your caption, tap “send” and you’re done. After sending, you’ll be able to find out who’s seen your photo or video, see who liked it and watch your recipients commenting in real time as the conversation unfolds. Photos and videos that you receive from people you follow will appear immediately”.

The new app is available in the Play Store for Android and for iOS.

Source: Telegraph.co.uk