Below are the headlines found on The Guardian Online Newspaper for today, Thursday, 9 November, 2017.

Thu, 09 Nov 2017
The Inspector General of Police, Ibrahim Idris, yesterday engaged the Senate in a verbal war regarding the legality or otherwise of the lawmakers’ probe of corruption allegations made against him by Senator Hamman Misau.

Idris who appeared in the company of his lawyer, Alex Izinyon, around 2:30 p.m., told the Senate committee headed by Francis Alimikhena that since the case for which the investigation was ordered was already in court, it would be subjudice for him to respond to any queries from the lawmakers.

He said he chose to appear before the committee because he needed to comply with the constitutional provisions which mandate him to honour invitations from the parliament.

But the committee ruled him out of order, insisting that the judiciary lacks the power to stop the Senate from performing its constitutional duties.

The police boss claimed that the existence of the committee is against the Standing Rules of the Senate.

To support his argument, the IGP cited Order 53(5) of the Standing Rules which states that “Reference shall not be made to any matter on which a judicial decision is pending in such a way as might in the opinion of the president of the Senate prejudice the interest of parties thereto.”

Thu, 09 Nov 2017
Mixed reactions yesterday trailed President Muhammadu Buhari’s N8.61 trillion fiscal spending plan for 2018 submitted to the National Assembly on Tuesday.

Oil workers under the auspices of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) urged the National Assembly to reject a plan to sell profitable oil and gas assets in the industry as scraps to fund the 2018 budget.

The workers, who said there are other models to fund the budget, advised government to endeavour to repair assets that are in bad state rather than sell them as scraps to some businessmen and politicians.

The National Public Relations Officer of PENGASSAN, Comrade Fortune Obi said: “The government should critically evaluate the assets to look at their viability and profitability. Assets such as Nigeria Liquefy Natural Gas (NLNG) and shares in the upstream oil and gas JV operations that have become a huge revenue earner for the country should be kept by the government to the benefit of the Nigerian majority.”

The National Association of Polytechnics Students (NAPS) rejected the seven per cent allocated to education, saying it is irrelevant compared to the 26 per cent national minimum budget recommended by the United Nations.

In a statement jointly signed by NAPS National President, Mohammed Eneji and National Public Relations Officer, Ijaduoye Olasunkanmi, they said the Buhari-led administration has no regard for education in the country, as it continues to pay less attention to the sector which should be given priority.

“The global organization recommended the budgetary benchmark to enable nations to adequately cater for rising education demands. But in the proposal presented to the National Assembly, President Buhari allocated only 7.04 per cent of the N8.6 trillion 2018 budget to the education. The total sum allocated to the sector is N605.8 billion with N435.1 billion for recurrent expenditure, N61.73 billion for capital expenditure.”

But the Director-General, Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, and others commended the budget, saying the
presentation would bring better alignment between the private and public sector budgets.

Thu, 09 Nov 2017
The National Assembly has moved the passage of the other three versions of the Petroleum Industry Bill (PIB) to the first quarter of 2018.

Apart from the Petroleum Industry Governance Bill (PIGB) that was passed by the Senate, there are three others, namely: Petroleum Industry Administration Bill that is on licensing; Petroleum Industry Fiscal Bill that deals with the fiscal terms and the Host Community Trust Bill that takes care of communities that oil exploration impacts negatively.

Chairman of the Senate Committee on Upstream, Tayo Alasoadura, who spoke at the on-going 7th Practical Nigeria Content organised by the Nigeria Content and Development Monitoring Board (NCDMB) in Uyo, Akwa Ibom State, said the need to expedite action on the 2018 budget proposal necessitated the shift in date for passage of the PIB from end of 2017 as earlier projected to first quarter of next year (2018).

“We were thinking that we can pass the PIB before the end of the year but with the presentation of the budget to the National Assembly by the President and challenging the lawmakers to pass the proposals before the end of the year, it will be difficult to have enough time to work on the PIB,” he said.

Alasoadura, who agreed that the non-passage of the PIB had led to uncertainties in the oil and gas sector, hinted that the breaking of the PIB into four parts was done to allow for easy amendments in the future.

Meanwhile, Wabote has said that the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and his team would, in the next few days, embark on a mission to the Niger Delta to talk about what government has done to address some of the issues that were raised during the Vice President Yemi Osinbajo’s visit to the region.

The NCDMB boss stated that finding solution to the joint cash call by the government had helped to boost confidence among the International Oil Companies (IOCs) that Nigeria has the capacity to find solutions to most of the challenges confronting the oil and gas industry.

Thu, 09 Nov 2017
OIL prices fell on Wednesday as Chinese crude imports slipped to their lowest level in a year, although traders said the overall market remains well supported because of Organisation of the Petroleum Exporting Countries (OPEC-led) supply cuts. Traders said they were closely eyeing escalating tensions in West Asia, especially between regional rivals Saudi Arabia and Iran. Brent futures were at $63.43 per barrel at 0744 GMT, down 26 cents, or 0.4 per cent. The decline follows Brent rising to an ov 

Thu, 09 Nov 2017
Transanctions on equities on the floor of the Nigerian Stock Exchange (NSE) continued in an upward trend yesterday, as more blue-chip stocks joined the league of gainers, resulting to further rise in market capitalisation by N43billion. 

Thu, 09 Nov 2017
According to one of the organisers and partners, Adewale Adetona: 'LDS was birthed out of the need for the convergence of great minds and consolidation of great ideas that would shape the country's digital landscape. 

Thu, 09 Nov 2017
The chairman noted that the realisation of these synergies is expected to result in improved returns to shareholders and be beneficial to other stakeholders, including employees and customers of Lafarge Africa, Unicem and Atlas. 

Thu, 09 Nov 2017
The court also compels the DMBs to, among other things, disclose the names of the accounts as operated; account number(s); outstanding balances; domiciliary accounts and branches/locations where the accounts without BVN are domiciled. 

Thu, 09 Nov 2017
Meanwhile, of all the e-payment channels available in the country, ATM, web and mobile account for 77 per cent of fraud incidences, according to the Head, Industry Security Services, NIBSS, Olufemi Fadairo. 

Thu, 09 Nov 2017
The World Bank established that a target of $93billion annually is required to meet the infrastructural needs of sub-Saharan Africa. This lack of infrastructure makes it difficult for African markets to grow sustainably. 

Thu, 09 Nov 2017
Why are food prices rising in Nigeria, whereas they have been falling globally' First, as an import-dependent economy, the depreciation in the value of the Naira relative to foreign currencies may have resulted in... 

Thu, 09 Nov 2017
Its National Publicity Secretary, Dayo Adeyeye in a statement yesterday said the All Progressives Congress (APC) led administration was persecuting the opposition for no justifiable reasons. 

Thu, 09 Nov 2017
What I know about Oseloke Henry Obaze, fondly known as OHO, is borne out of a personal relationship spanning over two decades. OHO's character in all this time has been impeccable. 
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