Showing posts with label news. Show all posts
Showing posts with label news. Show all posts

Scores Feared Dead As Suicide Bomber Attacks In Adamawa

Bomb

Scores of people were ​feared ​killed ​Monday when two female suicide bombers attacked a busy motor park in Madagali town of Adamawa State.
A witness, Danladi Buba, said the two female suicide bombers detonated bombs at a mini market near a motor park around 9am, killing many people.
“About 30 people were killed with 16 others injured,” Mr. Buba said.
When contacted, the Brigade Commander of 28 Task Force Brigade, Mubi, Victor Ezugwu, confirmed the incident, saying the casualty figure was yet to be established.
“Two female suicide bombers struck at a garage in Madagali and detonated their devices, and we lost some beloved country men,” Mr. Ezugwu, a brigadier-general, said.
He said the injured had been taken to hospital while the military had cordoned off the area.
The brigade commander said the situation had been brought under control.

The attack followed a series of gun and bomb attacks, between Sunday and Monday, by suspected Boko Haram militants on Maiduguri, the capital of neighbouring Borno State.

PHOTOS: 4.3kg Worth Of Cocaine Found In Car Steering Wheel

Drugs dealers are getting more creative. South African Police posted this photo of 4.3g of cocaine found inside the steering wheel of a car, on their official twitter account. The 36-year-old suspect was charged to court last week...





An Open Letter To President Buhari; By Femi Fani Kayode

Former Aviation Minister Femi Olu-Kayode shared the letter on his Facebook page this afternoon. Read below 
 Mr. President, as one of your most loyal and faithful subjects who has nothing but the utmost respect for your person and your office, I am constrained to write you this open letter. This is because there are a number of issues that I believe that it is important for you to clarify and to come clean on.
I say this because some of your assertions of late are at best contradictory and at worst patently dishonest. Whichever side of the political divide we are on I believe that we can all agree on one thing: that the prosecution of the war against terror is not something that any of us should play politics with. This is especially so given the fact that human lives are at stake and the very existence of our nation is under threat. Like much of the rest of the world our country is going through hell at the hands of the jihadists and Islamist terrorists.

There is no gainsaying that we must all come to terms with the fact that the Islamic State in the Levant (ISIL), Al Qaeda, the Taliban, Al Shabab, Boko Haram, Hamas and another group that the internationally-respected Global Terror Index has described as the ''Fulani militants'' (aka Fulani herdsmen) are nothing but bloodthirsty murderers and the lowest form of life.

They are indeed the scum of the earth, the troublers of humanity and the vermin of hell. It is with this in mind that I urge you to take the war against terror far more seriously than you are doing and plead with you to stop passing the buck.

Your penchant for blaming your failings in this regard on the previous administration is simply nauseating and it does not serve you well.
You continuously contradict yourself when it comes to this matter and frankly such flip flops are unworthy of the office that you presently occupy.
We your subjects look up to you for consistency, strength, unequivocal commitment, a firm resolve and the ''leadership from the front'' that you promised during your presidential campaign in this war. We do not want and neither do we need doublespeak, lame excuses and buck passing.

Permit me to point out a few examples of your contradictory assertions and your buck passing in this short intervention. Initially you claimed that your predecessor in office President Goodluck Jonathan never bought any arms and that instead he squandered and stole all the money that was appropriated for the procurement of arms.

Yet when the British Minister of Defense visited you in the Presidential Villa the other day the story changed. You did a U-turn and gleefully told him and the wider world that President Jonathan bought arms with raw cash.
One wonders which story you shall come up with next and which one you will conjure up in the future. Kindly tell us what the position is: is it that Jonathan did not buy arms at all and stole all the money or is it that he used cash to buy arms? You cannot have it both ways. It is either one or the other.
Quite apart from your glaring doublespeak on this matter there was another issue which you ought to have raised with your highly esteemed and respected British guest.
You forgot to tell him that his was one of the countries that not only refused to sell weapons to us during the course of this bitter conflict but that also helped to impose and enforce the international arms embargo on our country even though we are at war.
This resulted in the unnecessary death of thousands of our people because we found it difficult to procure the weapons to protect them.
Your guest’s country insisted on towing the American line and doing this to us even though we were fighting a war against a relentless, well-motivated, well-funded and well-armed fighting force that Global Terror Index has described as the ''deadliest terrorist organization in the world''. One is forced to ask: with friends like this who needs enemies?
Given the fact that the embargo was in place one wonders how we were supposed to procure arms unless we did so with raw cash on the black market.
The alternative was to buy none at all, to do nothing and to allow Boko Haram to take Abuja, Port Harcourt, Enugu and Lagos. Perhaps that is precisely what your western friends and allies wanted but thankfully it never came to pass.
Despite the challenges and constraints President Jonathan faced, instead of losing any more ground, he rose to the occasion and retook no less than 22 local government areas and virtually pushed Boko Haram out of Nigeria. The only place that they occupied by the time the election took place was Sambisa forest.
Jonathan achieved all this with those arms that he bought with raw cash. This is apparently what you are now complaining about. Permit me to remind you that it is those same arms that Jonathan bought with raw cash that your army is still using till today.
Yet sadly since you were sworn in as President seven months ago you have lost some of those same local government areas that were earlier recovered and they are now back in the hands of the terrorists.
Despite this you keep telling the international community and the Nigerian people that we are ''making progress'' in the war against terror.
As a matter of fact you went as far as to say that we had ''won the war'' against Boko Haram and your Minister of Information, Mr. Lai Mohammed, echoed that grotesque mendacity and reiterated that sentiment by adding the words ''technically won'' (whatever that may mean) to the equation.
Sadly, two days later, on Christmas day, in what can only be described as an eloquent response from the terrorists, scores of innocent civilians were killed by Boko Haram in Borno state and a whole community was burnt to the ground.
Again on Sunday 27th of December Maiduguri, the capital of Borno state, came under heavy attack from the terrorists. So much for having ''won the war against Boko Haram'', whether ''technically'' or otherwise.

Instead of conceding that you had told the Nigerian people a pernicious lie, curiously the next thing that you did was to tell them that you would ''persuade Boko Haram to drop their arms''. One is compelled to ask: why would you have to persuade them to drop their arms if you had already defeated them and won the war against them?
In any case this would be the first time in the history of modern warfare that a sitting President has sought to destroy and defeat a vicious and relentless terrorist organization and win the war against terror simply with the awesome and devastating weapon of persuasion.
Perhaps you should recommend that same tactic to the Americans and the rest of the international community as an effective and credible weapon to adopt in their war against ISIL, Al Qaeda, Al Shabab, Hamas and all the other jihadist groups that plague the world.
Whilst you are at it perhaps you could also persuade Boko Haram to free the Chibok girls. It is disturbing to note that despite all your campaign promises and assurances that once you are elected President the girls would be rescued or returned, nothing has been done or heard about any of them ever since you were sworn in.
Worst still the Bring Back Our Girls Group, which was essentially an appendage of your election organization, together with its distinguished leaders and conveners, appear to have gone very quiet. I guess they are busy trying to persuade Boko Haram to drop their arms too.

The truth is that it is time for you to free yourself from your monumental delusions and to get real. Sadly you appear to be detached from reality.
Instead of fighting the war against terror you are making it worse by slaughtering one thousand Shia Muslims in Zaria on December 12th, locking up their leader Sheik Ibrahim El Zakzaky and opening yet another war front in our country.
The last thing that we need is for Hezbollah or the Iranian Republican Guard to rise to the occasion, take up the challenge, jump into the fray and decide to protect and avenge their Shia Muslim brothers and sisters in northern Nigeria.
Yet despite the reprehensible and indefensible actions of your military commanders in Zaria you have refused to show any remorse for what was undoubtedly a war crime against fellow Nigerians and you have not prosecuted the officers and military personnel that were involved in the butchery.
Instead the homes of the victims and those that share their Shia faith have been burnt to the ground in Zaria and their graves and burial sites have been dug up and desecrated.
Instead of fighting Boko Haram you are fighting and killing your own people. Worse still you have refused to defend our country. I say this because a few days ago the Cameroonian military invaded our country, violated our territorial integrity and savagely murdered over 70 innocent Nigerians in their village before burning it down.

Your government refused to acknowledge that this event even took place, despite the media reports. You did not console or express condolences to the families of the victims or retaliate against the Cameroonians.
You did not even warn them or demand an apology or reparations from them. This is heartless and shameful. It could not have happened under Jonathan, Obasanjo, Babangida, Shagari, Abacha, Abubakar, Shonekan, Mohammed, Balewa or indeed any other former Nigerian President or Head of State.
If any of them had been in power and the Cameroonians cultivated the effrontery to do such a thing there would have been consequences.
Yet you did nothing to avenge this affront or to defend our honor. What happened to the gallant and brave General Buhari that courageously led our troops into victory in Chad in the early 1980's?
What happened to the honest and forthright man that we all admired and looked up to because of his military exploits in Chad?
What happened to the war hero that gave the Chadians a ''bloody nose'' for daring to attack a Nigerian village and that almost took Ndjamena, the Chadian capital?
What happened to the man that proved to the Libyans and their Chadian proxies that Nigerians knew how to fight? It appears that you have changed and that you are no longer the man that you used to be.

Instead of being honest with our people you have insisted on selling them a dummy and telling them a lie. You refuse to tell the world that our military is terribly demoralized, our soldiers are suffering heavy casualties and are not being paid their salaries regularly and, worse of all, that you have failed to procure a single bullet or weapon for them to use in the last seven months since you came to power.
Instead of deploying all the power of the state against Boko Haram you have spent all your energy and resources trying to teach the former National Security Advisor, Colonel Sambo Dasuki, and all your other perceived enemies the lesson of their lives by misrepresenting them before the world, subjecting them to state-sponsored tyranny and the most insidious form of persecution, violating their human rights and lying to the world that they stole and shared money that was meant for the purchase of arms.
You have also misled and misinformed the Nigerian people about the rules and conventions that are applied when it comes to the administration of security funds and about the fact that it is the National Assembly alone that has the right to probe the use of such funds as part of their oversight functions.
To cap it all you have claimed you did not receive any benefit from the NSA 's office whilst Jonathan was in power. This is an assertion which we all know is, at best, questionable.
You must be mindful of the fact that God hates liars and He despises those that abuse power. You must remember that the more you scorn God's counsel and mock His admonitions the more your errors will be made manifest and the more your people will suffer.
You must understand that any leader or government that is motivated by bitterness, fear, hate, vengeance and malice will eventually hit the rocks and crash like a pack of cards. You must appreciate the fact that God is watching and that He sees and knows all.
May the Lord have mercy on you and may He forgive you for your many sins and wicked ways. God bless Nigeria.‎

At Last! Petrol To Sell For 85 Naira By January

The Federal government is making plans to reduce the pump price of petrol to about 85 or 86 naira per litre.
Minister of State for Petroleum , Dr Ibe Kachikwu who disclosed this during a tour of the Port Harcourt refinery on Christmas Day expressed hope that the new price regime may come on stream January next year.
He said efforts were on to get the refinery to achieve 60 percent production capacity and to supply about 11 million liters of petrol daily.
fuel-pump
“If you look at the new PPPRA template that we developed and which I just signed off two days ago, when it is announced you will find out that for now ,and I use the emphatic word of the President for now, the price of the refined product will actually be lower than 87 naira, It will be 85. We will probably announce that in January if the prices hold.
“like I said, we have done a modulation calculation and it is showing us below N87. I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January that is when we are looking at.”
“What that does for you is that its modulating. If it goes up you move up, if it comes down you come down. So we take away the fact of having to go find funds to pay for these subsidies that we cannot afford.
“More importantly we try to be as close to the pump price that we have now as possible,” he said.
Kachikwu  who is also the Group Managing Director, Nigerian National Petroleum Corporation, NNPC said government had resolved to scrap oil subsidy because of alleged fraud around it.
“So for the first time people will understand that the pricing modulation I was talking about is not a gimmick. It is for real. The objective is that we cannot afford to continue to subsidize .We can’t even understand where those subsidies were going to. There is a lot of fraud elements in it so we need to cut that of.
The second is the earning capacity of the Federal Government is deteriorating by the day with lower prices of crude “, he said.
He also said there was improvement in security of pipelines with the engagement of private  contractors by the federal government.

EXCLUSIVE! The Real Cabals Who Won't Allow Nigerians Refinaries Work

A cursory survey of media reports on the downstream oil sector suggests that the prevailing popular belief is that a predatory cabal has a vice grip over the business of fuel importation. There is concern, therefore, that this, presumably, vicious class of businessmen would do everything to ensure that refineries will never work, and that the subsidy regime would subsist, while fuel supply will continue to be carefully manipulated to regularly induce artificial scarcity so that bountiful profits can be harvested from the attendant sufferings and economic dislocation deliberately caused by the oil cabal.
Seized fuel trucks
fuel trucks
It would probably be more difficult to find a contrary view to the above popular perception, than it is to find the proverbial needle in a haystack. Besides, the widely reported ‘extreme’ annual subsidy values seem to also confirm that these fuel barons make a kill on the back of fellow Nigerians. Furthermore, despite several allegations that marketers collect billions of Naira as refund of subsidies on fuel supplies which were never delivered, no convictions have, surprisingly, so far resulted from EFCC’s tenuos efforts.
Nonetheless, it will be useful to examine the process of fuel importation more closely to actually identify the real beneficiaries in this business. Indeed, the major oil marketers, Total, Mobil, Oando, Conoil, NNPC inclusive, and a few others have not been fingered for collecting subsidy with fake import papers. However, it may be more difficult to vouch for the innocence of the motley subset of hundreds of indigenous independent marketers, as this class also accommodates the ubiquitous briefcase importer, who is clearly, a more footloose buccaneer.
Sadly, much to the chagrin of the public, the snail speed procedure for prosecuting financial crimes, may, postpone judgment day for fuel subsidy racketeers, while a judicial process that is allegedly compromised may actually also set the guilty free. However, let us examine, hereafter, how profitable the fuel supply business is for bonafide importers, who have to borrow billions of dollars and Naira to finance their operations.
The available data from the National Bureau of Statistics indicates that fuel accounts for over 40% of Nigeria’s total foreign exchange expenditure on imports annually. Thus, the consolidated forex requirement for genuine importers will exceed $5bn annually. Instructively, commercial banks would buy the required dollars, predominantly, from the Central Bank at the official rate and then add between 1-2% premium on their purchases before selling forex to importers; the banks could easily earn up to $100m from such simple exchange transactions.
However, the premium on each dollar sold may well exceed N10 per dollar, whenever dollar is relatively scarce and the parallel market exchange rate is over N220 while official rate remains below N200/$ as is currently the case. It is also not immediately obvious to non business persons, that the same banks lend fuel importers the Trillions of Naira which they subsequently exchange for dollars; presently, marketers would pay between 17-20% interest for the Trillions of Naira borrowed for fuel imports.
Furthermore, importers would also require additional Naira loans to settle port, storage and other ancillary domestic charges. Thus, the already high consolidated cost of importation will still become further compounded with the other bank charges, such as COT, L/C establishment, loan administration, insurance and of course, the legal fees to perfect each contract.
Worse still, ultimately, the ‘now customary’ extended delays preceding government’s release of subsidy refunds to marketers, will also lead to unexpected open-ended additional costs; thus, each cycle of import may attract well over 10% consolidated interest charges, from which banks may earn over N100bn additional income. Ultimately, the relatively modest 3-4% gross margins which marketers projected on shorter turnaround cycles for their imports will become extensively breached because of delayed payments, while the ‘unexpected’ failure of the venture may become a major inducement for hyper stress for genuine fuel merchants.
Sadly, the woes of fuel importers could still be further compounded if the Naira exchange rate also depreciates against the dollar before subsidy claims are finally settled, especially if government foot drags or denies liability for delayed payments and the attendant exchange rate differentials. Indeed, the recent 20% devaluation of the Naira may have inadvertently added over N200bn($1bn) to the annual cost of fuel import; thus, any additional delay in the settlement of the existing claims for payment delays and exchange rate differentials would in turn, further increase the attendant interest burden for marketers.
Indeed, the longer it takes to settle the alleged current outstanding claims of almost N300bn, the heavier will be the ultimate debt burden to marketers particularly if the official dollar rate appreciates above N220 as per current speculation. Expectedly, the reluctance of marketers to commit to fresh orders for fuel supply will inevitably induce domestic scarcity which will also trigger a spiral in the black market price of fuel.
Thus, with the constant abiding threat of negative profit, it is difficult to understand how any sane businessman would wish that such an oppressive business model should continue. Nevertheless, without the steady cash flow from fuel marketing, the existing heavy debt obligations would ground the activities of marketers and increase the burden of maintaining their existing substantial investments in storage and supply infrastructure nationwide, while unserviced overheads and recurrent expenses would deepen their agony and ultimately cripple their businesses.
What shines through from the above narrative is the extreme good fortune of the banks, as heads or tails they win; clearly, therefore unless, this business model changes, the major oil companies, and genuine independent marketers may eventually opt for self preservation and, divest from the downstream fuel business. Comparatively, however, the superior profitability of banks is obvious from the relatively bountiful 10-15% net surpluses generated annually, while, conversely, fuel marketers, will be lucky to post net returns of 2-3%. These divergent relative profit indices are incidentally also clearly reflected in the price earning ratios of the respective equities in both sectors.
Although abolition of price control would minimize interest charges on delayed payments, but in reality, banks profitability will still be sustained especially if shorter turnaround order cycles also lead to increase in loans sought by fuel marketers.
Evidently, the foregoing discussion does not validate the widely held view that marketers form the core cabal that allegedly opposes the abolition of subsidy. Indeed, it is more likely that genuine marketers, would prefer an unencumbered ambience, with prices which are determined by market forces, so that budgeted profit margins will be secure from the destabilising vagaries of a fuel subsidy regime, and marketers will escape the fatal damage that payment delay and Naira devaluation could inflict on their business.
Save the Naira, Save Nigerians

BREAKING! Masterminds Of Jos And Zaria Bomb Blasts Have Been Arrested By Nigerian Troops

EXPLOSION IN ZARIA, KADUNA STATE
The Nigerian military said its troops have arrested the mastermind of last Sunday’s bombing in Jos, Plateau state, and Tuesday’s suicide blast in Zaria, Kaduna state.
The Defence Headquarters said in a tweet on Wednesday that the suspect was arrested at a military checkpoint in Gombe State.
It said the arrest followed an operation by a combined team of the military and DSS operatives.
It did not give further details.
The Plateau attack killed 44 people while the explosion in Zaria killed 26 people.