NIGERIA NEWSPAPERS: TODAY'S THE GUARDIAN NEWSPAPER HEADLINES [4TH APRIL, 2018.]


Below are the headlines found on The Guardian Online Newspaper for today, Wednesday, 4th April, 2018.

Wed, 04 Apr 2018
A closed-door meeting by President Muhammadu Buhari, Vice President Yemi Osinbajo and 22 governors of the All Progressives Congress (APC) to resolve the controversy over tenure extension for the John Odigie-Oyegun-led executive ended in a deadlock yesterday.
The meeting which was held in the council chambers of the Presidential Villa, Abuja started around 2:14 p.m. and lasted for over two hours. The governors of Yobe and Katsina states were absent.

Prior to the arrival of President Buhari at the venue of the meeting, governors of Kogi, Edo, Benue, Ondo and Adamawa states were engaged in a heated argument. It was not clear what the argument was about.

Governors Yahaya Bello (Kogi) and Rotimi Akeredolu (Ondo) were seen arguing strongly. Bello, in a loud voice, was heard saying in Hausa language, Ba za mu yarda ba, meaning “we won’t accept.”

While some of the governors in the APC want their National Chairman, Odigie-Oyegun and other executive members to continue in office for another one year, President Buhari categorically declared at the APC National Executive Council (NEC) meeting in Abuja that their continued stay in office after the expiration of their first tenure was unconstitutional.

Ahead of their recent NEC meeting, the APC chairman had, while fielding questions from State House correspondents, stated that the crisis over his tenure elongation was already history.


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But addressing members of NEC at the APC Secretariat in Abuja, President Buhari said: “It is important for me to speak quickly on the contentious issue of the tenure of our national and state executive officers.

As we all know, a motion was moved in the last National Executive Committee meeting of February 27 to the effect that when the tenure of the current executives expires in June this year, they should be allowed to continue for one year.

“This motion was duly carried by the majority of members present at the last NEC meeting, even though some of our party members have since spoken up vehemently against it, others have even taken the matter to court.

Wed, 04 Apr 2018
The nation’s economy may be exiting a six-month apathy and cautious mode imposed on it by the standoff between the federal legislature and the executive, as the decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will be ready today.
President Muhammadu Buhari had in November 2017 sent a list of five nominees to the Senate for confirmation to fill the vacant positions in the MPC.

Two of them are also to serve as deputy governors of CBN. But the list was caught in the web of political standoff, which delayed the lawmakers’ action on it for about six months.


Within this period, which analysts have described as characterised by uncertainty, both local and foreign investors transacted in the nation’s financial market with caution.

Updates on policies appeared static, particularly the local debt refinancing and long-speculated interest rate cut.

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But two weeks ago, the lawmakers sheathed their sword and confirmed the nominees, giving a leeway to the ongoing MPC meeting, the communiqué of which is due today.


The first quarter of 2018 was a period of mixed fortunes for the capital market, with a minimal net effect in capitalisation and the all-share index at the end of March, compared to the beginning of the year.

Market operators attributed the mixed fortunes to a lack of policy pronouncements.

At several trading sessions in the last three months, which also marked the height of concerns over policy meetings and direction, the capital market, where most portfolio investors play, lost billions.

Specifically, trading yesterday, the first in April and second quarter of the year, sustained the mixed fortunes in the first quarter as equity transactions declined, following price losses.

This made the all-share index to fall by 1.6 per cent, losing 648.87 points or 1.6 per cent to 40,855.64 from 41,504.51, while the market capitalisation consequently dipped by N234 billion from N14.992 trillion recorded a few days ago to N14.758 trillion.

On March 20, the market capitalisation depreciated by N52 billion from N14.964 trillion recorded on Monday to N14.912 trillion; lost N236 billion or 1.53 per cent from N15.666 trillion to N15.430 trillion on March 7; and lost N139 billion or 0.9 per cent on February 12, from N15.476 trillion to N15.337 trillion.

Analysts attributed these developments to the recurring feelings of insecurity by investors, as they seek a direction and speculate within the period of the absence of MPC meetings.

Wed, 04 Apr 2018
Nigeria has steadily overtaken Angola as the top oil and gas producer in Africa, with an increased out put of 91,500 barrels per day (bpd) in February 2018.
  
Angola, which is Nigeria’s rival in terms of crude oil production in sub-Saharan Africa, surpassed Nigeria with over 200,000 bpd since 2016 due to the renewed militancy in the Niger Delta, which led to drastic drop in the country’s output.
  
For instance, while Nigeria’s crude oil output in second quarter of 2017 stood at 1.485 million barrels per day, Angola’s production was 1.635 million barrels per day.


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Angola upstaged Nigeria with 1.668 million barrels per day in the third quarter of 2017, while Nigeria’s output was 1.572 million barrels per day.
  
But Nigeria began to surpass Angola in crude oil production from December 2017 with an output of 1.569 million bpd.
  
For example, while Angola produced 1.548 million bpd in December 2017; 1.562 mbpd in January; and 1.498 mbpd in February, Nigeria’s oil output was far higher with 1.569mbpd in December, 1.641mbpd in January and 1.732mbpd in February.
  
According to secondary sources, total OPEC-14 crude oil production averaged 32.19 mbpd in February, a decrease of 77 thousand barrels per day over the previous month.
  
While production mainly decreased in Venezuela, the United Arab Emirates (UAE) and Iraq, this was partially offset by higher production in Nigeria and Angola.
The Minister of state for Petroleum Resources, Dr. Ibe Kachikwu, said that the Federal Government is targeting three million barrels per day of crude oil.

The Minister also said that for Nigeria to begin production of crude oil in a new oil field, it would cost the country about $10 billion per year for over three years.


Wed, 04 Apr 2018

Adebanjo scores Obasanjo low as president
2 hours ago
INEC inaugurates voter education, publicity committee ahead of Ekiti poll
2 hours ago
Weed out corrupt elements in amnesty office, ex-militants advise new boss
2 hours ago
Nigerian crime lords are making millions from mobile phones stolen on the streets of Britain by gangs.

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Mobile phones snatched from pedestrians are advertised as ‘UK used’ iPhones for sale in Lagos, where they are sold at knockdown prices.

Nigeria has not signed up to a global deal blacklisting stolen phones so gangs are continuing to supply tens of thousands of phones to crime bosses in Nigeria.


The phones they steal are first stripped of their data, which is used by gangs to try and hack bank accounts. 

They are then sold in bulk to middlemen who ship them to eastern Europe where technology experts working for criminal gangs steal users’ private information. The phones are then finally sold to crime lords in Nigeria, as well as Algeria and India. 

An investigation by The Sun UK found stolen iPhones from the UK being sold in Computer Village, Ikeja for £560. One store offered an ‘UK used’ iPhone 6 for £230. 

The Sun’s investigation highlights that there are still parts of the world where stolen phones can be unblocked and sold on.

All that is required is a new SIM card — and away you go. A combination of corrupt officials, unscrupulous businesses and a booming demand for Western technology makes Nigeria an ideal place for handlers to send stolen handsets.

Conservative MP Andrew Percy told the newspaper: ‘It is truly shocking to think that violent attacks here in the UK are being used to make black marketeers in other parts of the world wealthy.’  

A Lagos police spokesman said: ‘I am not aware that stolen phones from the UK end up in Lagos. If there is a complaint about a stolen phone in Lagos we shall investigate it.’ 

An explosive documentary earlier this year showed criminals boasting to a BBC journalist of stealing thousands of pounds worth of mobile phones, tablet computers and bags and carrying out smash-and-grab raids on street jewellers. 

One of the gang, a 21-year-old known as Mr X who wore a skull mask, bragged about being able to snatch three smartphones in 20 seconds, comparing it to ‘stealing candy from a baby’.

Mr X, a phone snatcher who claims to live in Islington, North London, boasted about stealing hundreds of devices over the past seven years. 

On the documentary, Mr X took four phones to a buyer, who paid between £70 and £250 for each of them. The buyer then took them to Nigeria, where they fetch even more.

Wed, 04 Apr 2018
I got a credible information last week from some grapevines in Abuja that the much-talked about outstanding sum of $322 million (not $321 million as has been widely reported) stashed away in some secret accounts by former military dictator, the late General Sani Abacha, in Liechtenstein, Luxembourg and Switzerland, routinely referred to as Abacha loot, [] 

Wed, 04 Apr 2018
William Easterly is a Professor of Economics at the New York University, who in a 2006 publication: The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Harm and So Little Good, enunciated that fragile states are plagued by two factors, namely: political identity fragmentation and weak national institutions [] 

Wed, 04 Apr 2018
Nigeria has steadily overtaken Angola as the top oil and gas producer in Africa, with an increased out put of 91,500 barrels per day (bpd) in February 2018. 

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Wed, 04 Apr 2018
Elder statesman, Chief Ayo Adebanjo, yesterday assessed the eight years democratic rule of former President Olusegun Obasanjo and passed a grim verdict: It was a monumental error. He also said that Obasanjo was responsible for the inadequacies of the Peoples Democratic Party (PDP). Adebanjo spoke at the unveiling of his autobiography titled 'Telling it as [] 

Wed, 04 Apr 2018
Equity transactions on the Nigerian Stock Exchange (NSE) for the month of March recorded a total of 10.166 billion shares valued at N136.241 billion in 103,441 deals, representing a 14.88% drop in volume terms and 28.49% rise in value when compared to the preceding month of February. The financial services sector accounted for 5.74 billion [] 

Wed, 04 Apr 2018
Telecommunications Company, 9mobile, has restated its unwavering commitment to integrity and best practices as gold standards across its operations. 'At 9mobile we continuously review our internal control and processes to protect the business as well as the interests of other stakeholders by ensuring we checkmate fraudulent activities that can compromise our operations, Chief Executive Officer, [] 

Wed, 04 Apr 2018
Ahead of the forthcoming governorship election in Ekiti State and the 2019 general elections, the Independent National Electoral Commission (INEC) yesterday resuscitated the State Implementation Committee on Voters Education and Publicity (SICVEP). According to the News Agency of Nigeria (NAN), the electoral umpire explained that the development was part of efforts at ensuring free, fair, [] 

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Wed, 04 Apr 2018
Former militant leaders, underthe aegis of theNiger Delta Reformed Ex-Agitators Association (NDREA), have urged the newSpecial Adviser to the President on Niger Delta and Co-ordinator, Presidential Amnesty Programme,Prof. Charles Dokubo, to weed out corrupt elements in the amnesty office or face the same disgrace as his predecessor, Gen. Paul Boroh (rtd). The ex-militant leaders also [] 

Wed, 04 Apr 2018
The Association of Senior Civil Servants of Nigeria (ASCSN) has rejected plan by the Federal Government to reinstate the Director-General, Security and Exchange Commission (SEC), Mounir Gwarzo. Gwarzo was suspended from office over allegations of financial misappropriation after a properly constituted administrative panel set up by the Finance Minister, Kemi Adeosun, found him culpable of [] 
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