NIGERIA NEWSPAPERS: TODAY’S THE GUARDIAN NEWSPAPER HEADLINES [22 MAY, 2018].

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Below are the headlines found on The Guardian Online Newspaper for today, Tuesday, 22 May, 2018.

Tue, 22 May 2018
Political, religious and traditional leaders from the southern part of the country gathered in Awka, the Anambra State capital, yesterday, calling for a restructuring of the federation.They attributed the pockets of agitations across the country to a faulty federal structure, which they said has placed some ethnic groups at the mercy of others.
They stressed that the path to successful nationhood must address lapses. They also agreed on the retention of the existing six-geopolitical zones, saying they should be institutionalised as part of the constitution.This decision, however, met with disapproval from some at the event, who felt the gathering should have defined in simple terms the kind of restructuring acceptable to Ndigbo.
The banned Indigenous People of Biafra (IPOB) had threatened it would disrupt the summit. This might explain the heavy presence of security operatives around Alex Ekwueme Square, the venue of the summit.The News Agency of Nigeria (NAN) reports that heavily armed personnel of the Army, Navy, Police and NSCDC were strategically positioned at roads leading to the venue.
Officials of the Federal Road Safety Commission (FRSC) were also around Aromma Junction and the Alex Ekwueme Square, to ensure a free flow of traffic.Police anti-bomb units were also stationed in and around the venue. Traffic was redirected from the area as workers at the Federal and State High Courts, State House of Assembly and Universal Basic Education Board were searched before passing through the venue to their offices.

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Former Central Bank Governor, Chukwuma Soludo, presented the position of Ohanaeze Ndigbo on restructuring at the summit. He also leads the body’s restructuring committee.Soludo said the proposition would create a peaceful and progressive country. He blamed some of the grievances across the country on a poor political structure.He said: “We demand a new constitution. We demand a constitutional conference backed by law, enacted by the National Assembly, where the people of Nigeria will agree on a new, truly federal constitution. A constituent assembly should be formed to agree on a new constitution for a new Nigeria. Such a constitution, the people’s constitution, should be approved by the people of Nigeria through a referendum to give it legitimacy and validity.”
Among other demands, the summit called for a six-year tenure for the president, five vice presidents to be appointed from the geopolitical zones, rotation of the presidency among the zones, scrapping of the local government system, and creation of additional states for the Southeast.The President of Ohanaeze Ndigbo, Chief Nnia Nwodo, said all the arms of the body accepted the recommendations by the committees that drafted the resolution.
Tue, 22 May 2018
Though the nation’s Gross Domestic Product (GDP) grew by 1.95 per cent (year-on-year) in real terms in the first quarter of 2018, financial analysts have advocated easing of monetary policy for sustainability.
Data released by the National Bureau of Statistics (NBS), yesterday, showed a stronger growth when compared with the first quarter of 2017, which recorded a growth of -0.91 per cent, indicating an increase of 2.87 per cent points. Compared to the preceding quarter, there was a decline of -0.16 per cent points from 2.11 per cent. Quarter on quarter, real GDP growth was -13.40 per cent.
Real growth of the oil sector was 14.77 per cent (year-on-year) in Q1 2018. This represents an increase of 30.37 per cent points, relative to rate recorded in the corresponding quarter of 2017, while the non-oil sector grew by 0.76 per cent in real terms during the period under review.

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The non-oil sector was driven mainly by agriculture (crop production); other drivers were financial institutions and insurance, manufacturing, transportation and storage, information and communication. In real terms, the non-oil sector contributed 90.39 per cent to the nation’s GDP, lower than 91.47 per cent recorded in the first quarter of 2017 and 92.65 per cent recorded in the fourth quarter of 2017.
According to the NBS, aggregate GDP for the first quarter stood at N28.4 trillion in nominal terms. “This performance is higher when compared to the first quarter of 2017, which recorded a nominal GDP aggregate of N26.028 trillion, thus presenting a positive year-on-year nominal growth rate of 9.36 per cent. This rate of growth is however lower, relative to growth recorded in Q1 2017 by -7.70 per cent points at 17.06 per cent, but higher than the preceeding quarter by 2.14 per cent points at 7.22 per cent.”
Speaking on the data, the Chief Executive of Financial Derivatives Company Limited, Bismarck Rewane, said the growth notwithstanding, the economy needs stimulus from the budget that was recently passed, and low interest rate to aid the numbers.He noted that the growth recorded was driven by the services sector, and that interest rate sensitive sectors, like manufacturing and agriculture, need to be complemented with monetary policies.He warned that it could take longer for the economy to recover if the Central Bank of Nigeria (CBN) retains key monetary policy rates, and called for a stimulus.
“The CBN is not in charge of fiscal policy. There is need to maintain price stability. The problem in the country has to do with unemployment, among others, even as growth slowed down in the critical sectors. The sectors that will deal with unemployment need to be stimulated. Vulnerability to shocks needs to be addressed,” he said.He added: “Issues that affect the everyday man need to be addressed. Election is not an issue if unemployment is reduced, as it would reduce dysfunctional behaviours in the society.”
For the Lagos Chamber of Commerce and Industry (LCCI), monetary policies should address access to funds and cost of funds for many domestic investors.According to the President, Babatunde Ruwase, “With commercial banks’ lending rate at between 20-35 per cent, depending on the borrower and other factors such as acceptability of collateral, it is very difficult for the private sector to successfully access fund, especially the SMEs. Investors in many sectors cannot finance projects profitably at an interest rate above 10 per cent. These sectors are majorly agriculture, real estate, solid minerals.”
Tue, 22 May 2018
The Federal Government has kicked-off reconstruction of the 36-kilometre Ikorodu-Sagamu Road awarded to Messrs Arab Contractor O.A.O. Nigeria Limited at the cost of N20.845 billion. 
Tue, 22 May 2018
Stakeholders in the manufacturing sector have called on the Federal Government to reverse the proposed upward review of the excise duty rates on alcoholic beverages and tobacco from June 4, 2018.They submitted that it was with deep regret that this is happening at a time manufacturers in the industry… 

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Tue, 22 May 2018
Nigerian leaders are not committed per se, but they are disparate elements who are out to loot the treasuries. If they are described as wolves in sheep’s skins, the description is not a misnomer; it is a befitting epithet. Since the inception of President Muhammadu Buhari’s administration in 2015… 
Tue, 22 May 2018
Though the nation’s Gross Domestic Product (GDP) grew by 1.95 per cent (year-on-year) in real terms in the first quarter of 2018, financial analysts have advocated easing of monetary policy for sustainability. 
Tue, 22 May 2018
Spanish LaLiga giants, Atletico de Madrid have confirmed the array of stars, including Fernando Torres in what will be his last game ever for the club, to play the Super Eagles in the maiden edition of the GOtv MAX Cup billed for the Godswill Akpabio International Stadium, Uyo today. 
Tue, 22 May 2018
As the harmonised Petroleum Industry Governance Bill (PIGB) is yet to get to the desk of PresidentMuhammadu Buhari for assent, expert feared the current delay might lead to more investment losses in the oil and gas sector. 
Tue, 22 May 2018
Former National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olisa Metuh, yesterday collapsed in court during his trial at the Federal High Court in Abuja but the trial judge, Okon Abang continued with proceedings. 
Tue, 22 May 2018
Partner, Lagos based finance law firm, Duale, Ovia & Alex-Adedipe (DOA), Ms. Soibi Ovia has lamented the absence of data privacy law in Nigeria.Ovia, said data privacy is an area of the emerging Telecommunication, Media and Technology (TMT) sector that has no regulation so far. 
Tue, 22 May 2018
Women with aggressive breast cancer can be effectively cured in half the time compared to current treatment, minimising harmful side effects, researchers have said.A new trial of patients suffering from HER2-positive breast cancer found survival rates were almost identical among those given six months… 
Tue, 22 May 2018
Midfielder Santi Cazorla is leaving Arsenal after six years with the club. The Spaniard joined the Gunners from Malaga in 2012 and made 180 appearances, scoring 29 times in all competitions. 
Tue, 22 May 2018
The scourge of Boko Haram insurgency in Nigeria’s Northeast region and the bloodthirsty, marauding herdsmen that have killed many; ravaged homes and sacked communities across Nigeria, particularly in Central Nigeria may appear to be the gravest challenge facing Nigeria, but alas, it is not. 

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Tue, 22 May 2018
The Minister of Labour and Employment, Dr Chris Ngige has warned the Nigerian Medical Association (NMA) to steer clear of negotiations between government and the striking Joint Health Sector Unions (JOHESU). 
Tue, 22 May 2018
The Federal Government yesterday launched an upgraded website aimed at bringing governance close to the people.The Secretary to Government of the Federation, Boss Mustapha, who declared the website open, stated that the upgraded website, which cost about N64 million… 
Tue, 22 May 2018
The three years of stewardship of Hon. Ifeanyi Ugwuanyi, governor of Enugu State, appears to be the golden years of workers in the state, whose welfare has taken the centre stage in his development programmes. With a people-centred administration, Ugwuanyi… 
Tue, 22 May 2018
The Benin Zonal Command of the National Agency for the Prohibition of Trafficking in Person (NAPTIP) yesterday said it has arrested an unrepentant trafficker who specialises in recruiting young girls for her own children abroad. It said the arrest was made at the weekend. 
Tue, 22 May 2018
Ahead of the September 22 governorship election in Osun State, a group, Osun Development Association (ODA) has urged citizens in the state to shun all forms of inducements in the search for a successor to Governor Rauf Aregbesola. 
Tue, 22 May 2018
Stakeholders and civil society groups in Nigeria have been urged to urgently address the challenges of food security engendered by climate change to ensure that its citizens do not suffer hunger and starvation in future. 

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