NIGERIA NEWSPAPERS: Today's Thisday Newspaper Headlines [10th April, 2018].


Below are the headlines found on Thisday Online Newspaper for today, Monday, 10th April, 2018.

Tue, 10 Apr 2018
After months of speculation about his real intention, President Muhammadu Buhari surprised the leadership and stakeholders of the All Progressives Congress (APC) at the party’s secretariat in Abuja Monday when he informed them of his intention to seek re-election in the 2019 polls.
Buhari, who made the declaration at the resumed meeting of the National Executive Committee (NEC) of the APC, took party members completely unawares as they were not expecting him to speak on his 2019 presidential bid.


 
He informed them that his decision to make another bid for the presidency was in response to the clamour by Nigerians for him to re-contest in 2019.
A brief statement by his Special Assistant, Media and Publicity, Mr. Garba Shehu, said using the platform of the NEC meeting to make the declaration was predicated on the president’s decision to give the committee the honour of first notification.

Following the president’s announcement, residents in Kano celebrated, with many youths in the state expressing confidence that Buhari would now be able to complete the projects he had started.
However, the main opposition Peoples Democratic Party (PDP) said it would refrain from commenting on the president’s declaration, saying he had not yet secured the ticket of the APC.
Nigerian stocks also dropped to a three-month low after the president said he would seek re-election in 2019, ending months of speculation about his future after bouts of ill health.

According to Reuters, the stock market, which opened on a losing streak after Lafarge Africa announced a surprise 2017 loss, worsened its decline. The equity market fell near 40,000 points.
Monday’s NEC meeting, however, saw the ruling party reversing its earlier decision to extend the tenure of its executives by one year, and directing that the processes for the conduct of congresses and a convention should commence.

But it wasn’t a winner takes all for those opposed to the tenure elongation, as the NEC approved a waiver that would enable the current party leadership to seek re-election while retaining their various positions.

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The party also approved the aspect of the recommendations of the Governor Simon Lalong-led technical committee, which advised that in the event that there is a problem and the congress becomes inconclusive, the party will ask the current leadership of the APC to remain in office, but in an acting capacity.

Before his presidential declaration, Buhari had thanked the committee for a job well done within the limited timeframe given it for the assignment.
He also encouraged party members to accept the report of the committee and prepare for congresses and a convention to elect new national executive committee members for the APC.

According to him, the work of the technical committee had shown a great sense of commitment to the ideals of the APC, “with a view to consolidating and positioning the party to continue delivering good governance in the overall interest of Nigerians”.
“With the present state of the party and based on the report submitted by the Technical Committee, it is important to focus on how to move the party forward by avoiding actions detrimental to the interest of the party.

“Considering that politics is a game of numbers, we must not be a house divided against itself and must try to note, appreciate and accommodate our differences as far as the law permits.
“Upon my review of the report, my position is to ensure that the party tows the path of unity, legality and cohesion and not that of division.

“Therefore, I am stressing that we should strengthen our internal democracy by organising the party’s congresses and convention where the election of National Executive Committee members would be held.
“This will automatically end the cases filed by members seeking orders of the court compelling the party to hold its congresses.

Tue, 10 Apr 2018
Following the confirmation by the Senate Monday that it was going to debate the approval given by President Muhammadu Buhari to withdraw $1 billion from the Excess Crude Account (ECA) for arms procurement to combat the insurgency and insecurity in the North-east and other parts of the country, the presidency rushed to clarify that the president had not yet authorised the disbursement of the sum.


 
The President of the Senate, Dr. Bukola Saraki, at the weekend, had also revealed that his colleagues were angry that Buhari had given the green light on the $1 billion without recourse to the National Assembly.

But the presidency said Monday in Abuja that Buhari had not authorised the spending of the $1 billion as approved by the National Economic Council (NEC) last December.
The Senior Special Assistant to the President, National Assembly Matters, Senator Ita Enang, in a statement, said the president would not authorise the spending of such money without the approval of the National Assembly.

Enang said the clarification had become compelling in view of “several mis-readings”, which followed the announcement by the defence minister, Mansur Dan-Ali, after a security council meeting in the State House last week, that the president had approved the release of the money to fight insecurity.

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Enang, who said the presidency was conversant with constitutional provisions, which prohibit spending from the Consolidated Revenue Fund (CRF) without the approval of the National Assembly, insisted that “the said sum has not and cannot be approved for spending by Mr. President”.

According to Enang, what the president did, in accordance with best practices, was to call a meeting involving the Minister of Defence, service chiefs and the Inspector-General of Police (IG) to collate the needs of each security service, following the NEC approval, but with a view to presenting it to the National Assembly for appropriation.

He added that following the collation of the needs of each security service, the president would now present the sum to the Federal Executive Council (FEC) for consideration and communicate the figure to the National Assembly for appropriation.

“This may be done as usual upon Mr. President consulting with the leadership of the National Assembly, before originating the communication to the National Assembly.
“As of now, the process of approving the money for use is inchoate and still undergoing executive standard operating procedure before laying same before the National Assembly for appropriation.

“The processes now being worked on is to fast track these procedures so that it may be forwarded to the National Assembly while it is still considering the 2018 Appropriation Bill for incorporation as Mr. President’s supplementary request under the 2018 budget, or if completed after the 2018 budget, it may be forwarded as a Supplementary Appropriation Bill.
“That stated, Mr. President has not approved the sum for release for procurement or application howsoever.

“In any case, before any sum is released from the Consolidated Revenue Fund, there must be (a.) An Appropriation Act, (b.) vote of charge, and (c.) a warrant, which is legally predicated on an appropriation authorisation sub-head under the Act,” Enang said.

Tue, 10 Apr 2018
Royal Dutch Shell Plc has said it paid $4.32 billion to the Nigerian Government in 2017, representing an increase of 19 per cent from the $3.64 billion the oil giant paid in 2016.
The Shell’s Sustainability Report 2017, which was released yesterday, showed that the $4.32 billion paid to Nigeria was the highest paid by the oil giant to any government in the 29 countries covered by the report.

By the report, government includes any national, regional or local authorities of a country, and includes a department, agency or entity that is a subsidiary of a government, which includes a national oil company.


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Shell said it prepared the report in accordance with The Reports on Payments to Governments Regulations 2014 as enacted in the UK in December 2014 and as amended in December 2015.
The oil giant said the report includes payments to governments made by Royal Dutch Shell plc and its subsidiary undertakings.
The company however, added that payments made by entities over which Shell has joint control are excluded from this report.


 
According to the company, payments made to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals, oil and natural gas deposits or other materials (extractive activities) are disclosed in this report.
The report, however, excludes payments related to refining, natural gas liquefaction or gas-to -liquids activities.

The multinational oil firm said in its yearly sustainability report that out of the $4.32 billion paid in 2017, $3.197 billion was paid to the Nigerian National Petroleum Corporation (NNPC) for production entitlement.

The payments include production entitlements, which are the host government’s share of production in the reporting period derived from projects operated by Shell.
Production entitlements also include the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its sovereign jurisdiction (home country).

The payments also include taxes paid by Shell on its income, profits or production, which include resource severance tax, and petroleum resource rent tax, including those settled by a government on behalf of Shell under a tax-paid concession.
The report also showed that crude oil theft from pipelines of Shell Petroleum Development Company (SPDC) increased by 50 per cent, to roughly 9,000 barrels per day (bpd) in 2017 from 6,000 bpd in 2016.

While sabotage-related oil spill incidents rose to 62, from 48 in 2016, the report however indicates that the volume of crude oil spilled fell to 1,400 tones, from 3,900 tones in 2016
Also, Shell’s operational spills in Nigeria rose by one to nine in 2017, but the volume of oil spilled fell to 100 tones from 300 tones in 2016, according to the report.
The report further revealed that theft and sabotage account for 90 per cent of the oil spills in the Niger Delta.

Tue, 10 Apr 2018
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, Monday said the country’s foreign exchange (FX) reserves had risen to $47.3 billion as of April 5.
The last time the country recorded FX reserves at this level was in July 2013.

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Speaking at a seminar for Finance Correspondents and Business Editors in Uyo, Akwa Ibom State, Emefiele, who was represented by the new Deputy Governor, Corporate Services, Mr. Edward Adamu, was also upbeat that the reserves would continue to rise to about $50 billion “sometime later this year”.


 
At $47.3 billion, the country’s reserves are still below that of South Africa’s whose gross reserves currently stand at $50 billion.

Accretion of the country’s reserves in recent months have been driven by its successful Eurobond offerings, coupled with higher oil production and prices.
At the two-day seminar, Emefiele was also optimistic that inflationary pressure would continue to ease, anticipating that it may return to very low double digit or high single digit levels during the year.

He, however, called for more vigilance by policy makers to ensure that the country does not slip again into a recession.
The CBN governor said: “We expect a re-doubling of strong policy coordination, collaboration and cooperation which flourished during the very difficult times.
“To sustain our recovery, the need is greater now than ever for a robust policy coordination between the key aspects of the economic policymaking space.

“This would include fiscal, monetary, exchange, and trade policies, which must be targeted at protecting farmers to boost agricultural output, support local companies and enhance manufacturing and industrial capacities, with a view to diversifying the economy away from oil and fossil fuels.
“Those of us who has been entrusted with leadership and policymaking responsibilities must neither become complacent nor over-confident. We must strive to improve and sustain the same policies that have gotten us this far.”

Emefiele reiterated that the central bank has been able to ensure exchange rate stability from over N525 to a dollar in February 2017, to about N360 to the dollar.
Foreign exchange supply has also improved since the establishment of the Investors’ and Exporters’ Window, with autonomous inflows of over $20 billion through this window alone from April 2017 to date, he said.

“As sentiments improve on the macroeconomy and supported by proactive monetary, trade, industrial and fiscal policies, we expect a continued uptick in GDP growth with a positive spill over to improved employment rate.

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“As policies to strengthen the agriculture and industrial sectors become more emergent, growth in these sectors will rise, further bolstering overall economy.
“As we entrench and sustain the transparency in the FX market, as FX reserves accretion continues, and market confidence and improved sentiments remain, we expect that the exchange rate will not only be stable but would begin to appreciate against major currencies.

“The adverse competitiveness outcome which such appreciation may entail would be adequately mitigated by proactive policies to ensure that our balance of payments position is not undermined. 

Tue, 10 Apr 2018
Omololu Ogunmade in Abuja President Muhammadu Buhari last night arrived in London, the United Kingdom capital, where he is billed to hold discussions with Prime Minister Theresa May on Nigerian ' British relations. The president who departed the shores of Nigeria from the Nnamdi Azikiwe International Airport, Abuja, at 4p.m. yesterday, arrived in London at []The post Buhari Arrives London appeared first on THISDAYLIVE. 

Tue, 10 Apr 2018
Ogheneuvede Ohwovoriole in Abuja The Nigerian Communications Commission (NCC) has lauded MTN Nigeria for paying N55 billion as the second tranche of the fine it incurred in 2015, bringing the total sum paid so far to N165 billion, representing over 50 per cent of the fine. The Executive Vice Chairman of the commission, Prof. Umar []The post MTN Has Paid N165bn of Its Fine So Far, NCC Reveals appeared first on THISDAYLIVE. 

Tue, 10 Apr 2018
IG deploys surveillance aircraft in state as killings escalate Paul Obi in Abuja and Wole Ayodele in Jalingo The Nigerian Army on Monday constituted a panel to investigate the allegations of abuse and collusion by its troops in Taraba and other states with suspected Fulani herdsmen and other criminal groups to perpetuate heinous crimes, including []The post Taraba Killings: Army Sets up Panel to Probe Allegation by Danjuma on Soldiers' Collusion appeared first on THISDAYLIVE. 

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Tue, 10 Apr 2018
negotiations in May Omololu Ogunmade and Olawale Ajimotokan in Abuja President Muhammadu Buhari on Monday in Abuja said he declined signing Economic Partnership Agreement (EPA) involving the Economic Community for West African States (ECOWAS) because of his commitment to secure the future of youths and to keep local industries alive. The president made this disclosure []The post Buhari: l Declined Signing Regional Economic Pact to Protect Local Industries, Youths FG, AU to resume AfCFTA appeared 

Tue, 10 Apr 2018
Emmanuel Ukumba in Lafia Six Tiv farmers were reportedly killed by suspected herdsmen in separate attacks on Jimin Nyaku village of Aloshi Chiefdom and Gidan Ayua in Kadarko district both in Keana Local Government Area of Nasarawa State. The attack on Jimin Nyaku village was reported to have occurred at the early hours of last []The post Again, Suspected Herdsmen Kill Six in Nasarawa appeared first on THISDAYLIVE. 

Tue, 10 Apr 2018
Onyebuchi Ezigbo in Abuja The Independent National Electoral Commission (INEC) has expressed concern over the growing incidence of interference in the electoral process as a result of the deployment of counter-technology devices. The commission said given the high stakes involved in conducting elections in developing countries, electoral management bodies should be worried about the twin []The post INEC Worried over Technology Intercepts in Electoral Process appeared first on THISDAYLIVE. 

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