... ... 09/05/19 | IYANDA'SBLOG

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09/05/19

Deputy Managing Director at Afrinvest, Victor Ndukauba, has said that Nigeria has a 10 to 15-year window to take advantage of oil revenue.

He was reacting to the fall of Exxon Mobil from the top 10 companies in the S&P index weight – a rating of the top 500 firms in the United States, as well as a few other trends that affected the petroleum industry in August 2019.

Ndukauba reiterated the target of European countries to ban the use of petrol and diesel-powered engines, starting from 2025.

He said, “There is a sense that Nigeria has a 10 to 15-year window in which to optimise oil and gas assets, and use that cash to feed into infrastructure – critically power and transport.

“We have to be extremely deliberate about what we do with our oil resource. We have to be deliberate about attracting capital to exploit, extract and make the most of the resource while there is still a bit of a focus on it.

“We have to be deliberate about leveraging that asset to build infrastructure, open up other segments of our economy and truly begin to push the diversification agenda.

“The rest of the world have determined that oil is a key element of global warming.

“There is a very deliberate push by Western economies to limit the dependence on oil and its derivatives.” 

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Tanzania’s Transport Minister on Thursday said that the country’s air carrier has suspended all flights to South Africa.

Isack Kamwelwe said the intent to halt flights to the troubled state was in a bid to protect passengers, Reutersreports.

He said, “You are aware that there is an ongoing violence in South Africa whereby the youth have taken laws into their hands.

“Due to that, we have decided not to transport passengers to the destination where their lives will be in jeopardy.”

At least 17 people have been killed and hundreds of others arrested since attacks blossomed against immigrants of African extraction.

SaharaReportershad earlier revealed that at least 127 Nigerians had been murdered in South Africa between January 2016 and August 2019. 

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The National Chairman of All Progressives Congress, Adams Oshiomhole, has called for economic sanctions on South Africa and complete takeover of the remaining shares by South Africans in MTN Nigeria as a way of sending a strong signal over the killing of Nigerians in the former apartheid nation.

Oshiomhole disclosed this on Thursday in Abuja at a briefing with journalists.

He also called for the stoppage of the landing right granted to South African Airways and prevent them from flying to any part of Nigeria until the issue was addressed.

He said government should ask Standard Chartered Bank and Stanbic IBTC owned by the South Africans to wind up its operations in the country to enable Nigerian banks expand their operations and maximise profits.

Oshiomhole said, “It is worthy for the Nigerian Government to take steps to take over the remaining shares of MTN that are owned by South Africans so that MTN becomes fully Nigerian.

“This is the moment to show commitment to our citizens and show sympathy to those who have lost their loved one by boycotting South African goods and businesses beginning with Nigerians refusing from today to use MTN services.

“If Nigerians decide at least for the next 30 days as first step to stop using MTN, they would have sent a clear message and pay befitting tribute to the lives of those that were wasted in very crude and barbaric manner by South Africans.”

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Lagos state Commissioner of Police, Zubairu Muazu

The Lagos State Police Command on Thursday arraigned 83 persons, who allegedly participated in the attack and looting of South African-owned mall, Shoprite, in protest against continued killings of Nigerians in South Africa.

The defendants were arraigned before the Lagos State Magistrates’ Court at Yaba on six counts bordering on conspiracy, riotous assembly, arson, stealing, malicious damage, unlawful destruction of property and conduct likely to cause the breach of peace, according to a report by PUNCH.

The police told the court that the defendants attacked the Shoprite malls at Surulere and Sangotedo-Ajah and allegedly stole and damaged properties estimated at N500m.

The prosecution said they committed the offences on Tuesday, September 3, 2019 in contravention of sections 50, 287 of the Criminal Law of Lagos State, 2015 and were liable to be punished under sections 339 (1) (2), 168 (d) and 411 of the same Act.

The defendants, however, pleaded not guilty.

The magistrate, Mr P.A. Ojo, admitted each of the 83 defendants to bail in the sum of N500,000 with two sureties in like sum.

The magistrate said the sureties must be the defendants’ parents or a paternal family member.

The case was adjourned until October 9, 2019, for further hearing.

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A 26-year-old admission seeker, Saliu Oladayo, has been sentenced to death by hanging for killing his girlfriend in Akure, Ondo State.

Confidence Ebere was stabbed to death by Oladayo in May 2018 at Oshinle quarters in Akure, the capital, following a disagreement between the two of them.

SaharaReportersrecall that the culprit after committing the offence, escaped and was also declared wanted by the police.

Oladayo was later apprehended and subsequently arraigned for prosecution in court.

The Ondo State High Court sitting in Akure affirmed the offence of Oladayo through the ruling given by Justice Bola Ademola.

The court said the offence of the culprit was contrary to Section 316 and punishable under Section 319(I) of the Criminal Code cap 37, Vol. 1 laws of Ondo state of Nigeria, 2006.

According to court, all the circumstantial evidence and autopsy report revealed that “Saliu Oladayo, a secondary school leaver, stabbed the deceased on the left side of the chest and her left hand with a kitchen knife during a little misunderstanding at No 2 , Dele Ojo Quarters, Akure at about 2pm on May 15, 2018”.

In his ruling, Justice Ademola said Oladayo was found guilty of the offence and sentenced him to death by hanging.

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President of South Africa, Cyril Ramaphosa, on Thursday said that 10 persons have so far been killed including two foreigners in the latest violence to hit the country. 

The three-day World Economic Forum, which was supposed to be Co-chaired by Chairman of Zenith Bank, Jim Ovia, was supposed to be an opportunity for Ramaphosa to sell the country’s struggling economy to investors but unchecked killings that climaxed into looting and vandalisation of foreign-owned shops on Sunday, spoilt that plan.

Ramaphosa however, stopped short of naming the nationalities of the slain persons, according to Reuters.

He said, “Over the past few days, our country has been deeply traumatised and troubled by acts of violence and criminality directed against foreign nationals and our own citizens.

“People have lost their lives, families have been traumatised. We know that at least 10 people have been killed in the violence, two of whom were foreign nationals.”

Ramaphosa was forced to cancel his speech at the economic summit Thursday, to address protesting women outside the venue of the conference.

Official voices in the country have begun to shift from their claim that the killings were all about criminal element and not an intentional targeting of foreign elements.z

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Following latest xenophobic attacks on Nigerians and other African migrants in South Africa and reprisals on South African businesses in Nigeria, the Action Democratic Party has said that the two countries cannot afford to endure a strained relationship.

ADP posited that Nigeria and South Africa must unite to avoid crisis and further cruel acts against their citizens.

The party in a statement by its Lagos State Publicity Secretary, Prince Adelaja Adeoye, called on President Muhammadu Buhari to take a tough stand on the matter and ensure that it does not occur again.

The ADP said, “Africa must unite, close ranks and avoid any internal crisis that is capable of setting them against one another.

“Africans should be their brothers keepers and not be wild, crude and show barbaric attitude towards one another.

“We call on President of South Africa, Cyril Ramaphosa, to immediately put machinery in place to secure the lives and properties of Nigerians in his country as both Nigeria and South Africa cannot afford or endure a strained relationship.”

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Social commentator and activist, Deji Adeyanju, has called on Nigerians living in South Africa not to come back home despite ongoing xenophobic attacks on them in that country.

Adeyanju, in a video posted on the social media, advised Nigerians living in South Africa to defend themselves against attack but never come back home due to the terrible state of things in Nigeria.

Air Peace had offered free flight to Nigerians willing to come back home following the attacks on them in South Africa. See Also Breaking News BREAKING: Air Peace To Evacuate Nigerians From South Africa For Free

Adeyanju said, “I read the news about Air Peace volunteering to bring Nigerians back from South Africa but my opinion to my brothers in South Africa is that they shouldn’t come back because Nigeria is even worse.

“Cows have more value here and they are killing people every day and the government is not doing anything or saying anything.

“Don't come back, I don't advise any of you to come back to this country because if you do, you will regret it.

"Stay and fight and defend yourself because after all, we are all Africans.”

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Director-General of the National Youth Service Corp, Brig. General Shuaibu Ibrahim, has warned serving corps members to avoid careless usage of the social media in order not to endanger their service year.

Ibrahim sounded the warning on Thursday when he visited the 2019 Batch B (Stream II) members at the Orientation Camp, Ikare Akoko, Ondo State.

He said corps members should not ridicule what NYSC stands for by misinforming the world through "unguarded use of the social media".

He said, “You should not because of the surmountable challenges you are facing at a particular time destroy the laudable scheme which the Federal Government has invested huge resources in to attract negative statements on the social media.

“As a nation, we know that we are passing through challenges. NYSC wants you participate in the programme so that you can proffer solutions and not to add more burden to its existence by using the social media negatively.

“Our administration has vowed to deal ruthlessly with recalcitrant corps members who put our corporate identity to disrepute by dressing shabbily, casually and inappropriately.”

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A Federal High Court in Ikoyi, Lagos has remanded two men who allegedly broke into a sealed warehouse and stole substandard electric cables confiscated by the Standards Organisation of Nigeria.

The suspects are Chukwuma Nwodo, 31, and Abor Ikechukwu, 21.

Justice Nicholas Oweibo on Thursday made the order following their arraignment on a two-count charge of conspiracy, unlawful destruction of SON seal and stealing.

Babatunde Alajogun, who represented the Attorney-General of the Federation, told the judge that the defendants committed the offences on or about August 21, 2019, at a warehouse behind Bengass Motor Park, Ojo-Alaba.

He said, “They conspired to destroy the seal of the Standards Organisation of Nigeria which was used to seal up the warehouse containing substandard cables using welding equipment.”

The offences, the prosecutor added, contravened Sections 3(a) and 3(6) of the Miscellaneous Offences Act, 2004 and punishable under Section 3(a) of the same Act.

However, Nwodo and Ikechukwu pleaded not guilty.

The judge ordered for the two men to be remanded in prison custody and adjourned the matter until October 24 for trial. 

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