Buhari’s victory signals hope for Nigeria’s dwindling economy

Ayodele Samuel in this report writes on how emergence of General Muhammadu Buhari's as President elect signals hope for Nigeria's dwindling economy.

Since his victory at the poll, General Muhammadu Buhari's emergence as Nigeria's president elect has begin to have positive effect on the nations economy.

Business managers and investors in the country have over the last few months faced heightened anxiety and commercial risks associated with the uncertainty surrounding the 2015 general elections.

They feared the result of the election will decide the fate of the ailing Nigeria's manufacturing sector and the economy.

Buhari's emergence has however boast manufacturers confidence of a stable business environment in the next four years.

Head of Corporate Finance and Capital Markets, SPA Ajibade and Company Mr. Kalu Abosi said the Nigerian economic climate still remains attractive for foreign investments, despite its present challenges.

Abosi, in a lecture titled: "Nigeria-macro Economic Environment and Implications for Foreign Investment," said Nigeria, as the largest economy in Africa, with Gross Domestic Product (GDP) of 549.6 billion dollars, was still attracting foreign investments, especially from private equity funds.

"Amidst the challenging economy, Nigeria's foreign direct investment still remains the third highest in Africa," he said, explaining that better understanding of the vagaries of doing business in Nigeria creates savvier investors.

He also noted that Monthly Foreign Portfolio Investment (FPI) transaction at the Nigeria Stock Exchange, which was N125 billion at the end of 2014, decreased to N99 billion at the beginning of 2015, down by 20.39 per cent from December, 2014, adding that domestic investors gave up approximately 4.48 per cent of trading to foreign investors, reducing from 51.76 per cent to 47.76 per cent while FPI transaction rose from 48.24 per cent to 52.24 per cent.

Abosi added that the present economic challenges faced by Nigeria were not insurmountable as things were not as bad as people made them to appear, noting that the successful outcome of presidential election has grown the country economically.

Also Lagos Chamber of Commerce and Industry (LCCI) Director General, Muda Yusuf argued that the factors that mostly lowered the confidence level of business leaders over the last few months is unpredictable political developments that has engendered uncertainty among economic agents.

Yusuf noted that confidence has been restored through the successful conduct of the poll.

"The more confident entrepreneurs and managers feel about the business environment, the more likely they are to make new investments, create job and impact the economy."

Although the incoming governments will be faced with a lot task, stakeholders in the sector are worried over discontinuation of some economic polices of the out going government.

Yusuf noted that operators in the oil and gas industry are mostly disturbed by the uncertainty surrounding delayed passage of the PIB coupled with the adverse developments in the global oil and gas market.

The Director, Membership and Public Relations, Nigeria Association of Small and Medium Enterprises, NASME, Nerus Ekezie urge the Buhari government to start from where his predecessor stopped.

"We are particular on continuation on most of the sound economic policies, like the agricultural transformation and the various SME development initiatives, including the sustainability of the SME intervention funds and the establishment of the Development Bank of Nigeria, all these must not be stopped," Ekezie said.

While many stakeholders hopes for acceleration of reforms in the oil and gas sector in order to attract more investments in both the upstream and downstream segments of the sector, and wage sustainable war on corruption in the sector.

Another sector, industry watchers are hoping will get full attention of the incoming government includes the controversial National Automobile policy.

Also Nigerians are expecting a sharp reduction in the price of cement, which currently goes for 2000 per 50kg bag.

Nigeria is the country with the highest price of cement in the World,

Chairman Cement Producers Association of Nigeria (CPAN), Prince David Iweta, said the product can be sold even below N1, 000 if the sub sector is adequately sanitized.

He called on the president- elect to declare, at his inauguration, a change in the price of cement from N2, 200 per bag to N1, 000 per bag.

lamenting that the cement industry has witnessed the worst height of corruption and injustice for the past six years after the death of Late President Musa Yar'Adua, Iwata said countries that have attained self sufficiency in cement production all over the world sell cement at N500 per bag. " Nigeria where the federal government has claimed success in the cement industry and net exporter of cement, the product is selling at N2, 200 per bag."

Organised Private Sector(OPS), under the Nigeria Employers' Consultative Association (NECA) implored the President-elect, Major-General Muhhamadu Buhari to ensure the creation of an enabling environment that will position the private sector as the engine of growth.

Its President, Mr. Larry Ettah, said liberalisation, promotion of free enterprise and further privatisation of state – owned businesses will go a long way in fast tracking the development of the economy.

He enjoined the President- elect to partner the organised private sector along, through dialogue and consultation, on the formulation and execution of key economic policies.

Ettah cautioned that though the tasks ahead were onerous but they were, however, not insurmountable as security, the economy and employment must be accorded priority in the agenda of the new government.

Manufacturers are however hopeful that the change of government will bring fortunes to the dying sector.

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Plot to unseat Wada gathers momentum in Kogi

The race to the Lord Lugard House in Kogi State is gathering momentum, although the Independent National Electoral Commission, INEC, is yet to roll out timetable and lift the lid on campaigns, gladiators are oiling their machines for the contest ahead. Ayodele Samuel writes.

The Peoples Democratic Party (PDP) may be on its final lap of taking charge at Lugard House as the All Progressives Congress (APC) members, who have found their bearings are bent on using every available strategy to unseat incumbent Governor, Captain Idris Wada.

Kogi State has been a stronghold of the Peoples Democratic Party, PDP in the last twelve years after the party defeated the now defunct All Nigeria Peoples Party ANPP in 2003, but the last general election might be proving otherwise for the PDP.

The party lost its three senatorial districts and nine House of Representatives seats to the APC, leaving it with only three federal lawmakers in the party.

Since after the impressive outing of the APC at the last election, the party has begin to map out strategies towards winning the governorship election expected to hold in October.

An APC chieftain, Alhaji Ibrahim Linco Ocheje said based on the result of the Presidential/National Assembly election, which the APC won and the recent state assembly election for which APC won 11 seats, the party would coast to victory with no hassling.

He said APC won in areas where more than two third of the state population resides, adding that they are still areas for APC to win during the governorship election.

However who flags the party ticket has began to generate internal wangling in the APC.

While the APC parades a handful of governorship aspirants, including former governor Audu Abubakar; Air Vice Marshal Saliu Atawodi; former Accountant General of the state, Ubolo Okpanachi; Obadofin Yakubu; a former commissioner in the state Baba Ali, a former speaker and acting governor of the state Asiwaju Clarence Olafemi, Yaya Bello, Senator Alex Kabiri, among others.

Audu and Bello seems to be garnering more support on the street of Lokoja and Okene.

Audu who has the control of the party structure and enjoys cordial relationship with national leaders of the APC has since been receiving torrent of encouragement in his ambition to rule the state again.

Bello who hails from Okene and chairman of the Kogi Youth Arise Group expressed confidence that his party was 100 per cent sure of taking over governance of the state from the ruling PDP next year. Bello banks on the zoning agitation of stakeholders in Kogi central zone clamoring for the governorship ticket.

A close source in his camp said "if APC wants to win the state, it should produce a candidate from the central senatorial district. Kogi central has never produced a governor since the creation of the state."

Bello a leading contender from the Zone assures that the APC victory at the poll will be landslide.

"It is going to be a landslide; everybody has seen the performance of the present administration and just like everyone yearned for change, Kogi State deserves more than change," Bello told reporters.

While some blocks in the APC wants Audu to take a back seat in the governorship race for a younger candidate to emerge, an APC stalwart in Yagba East LGA, Akinola Abdulrasaq however berated those urging Prince Audu not to contest the 2015 Governorship elections, describing them as "enemies", working against the interest of the party.

Akintola described those opposed to Audu's participation in the electoral process as political saboteurs and enemies of Kogi State.

"Those opposing Audu's candidacy are either agents of PDP or dishonest party leaders, Audu has been tested and each time he proved himself."

Another APC chieftain, Abubakar Kaka Ede said only Prince Audu can confront the current PDP structure in the state. "It is only Prince Audu candidature that can wrestle power from PDP in Kogi State."

Ede who doubles as the coordinator of SAS Frontiers, a support group within the APC, said Audu will bring lots of commitments and support to the APC and thousands of Kogites who are apolitical will throw their weights behind APC because of their trust and confidence in the person of Prince Audu."

Ede berated some leaders within the party opposing the current leadership of the party for "their selfishness and greed not minding the interest and wellbeing of the generality of Kogites."

Audu's media aide, Suleiman Abdulmalik said the people have always wanted Prince Audu to govern the state.

"I can assure you that the people of the state want Prince Audu Abubakar as their next governor.

"The standard set by Audu has not been met by any of his predecessors; all the major infrastructures you see in Kogi State were built by him.

"His past work will surely speaks for him, he's has been a grassroot politician that enjoys confidence of party members."

Although Audu has lots of battles in clinching the party's ticket, fallout of the APC primary election might give a boost to the PDP if not well managed.

"No cause for alarm"- Wada's aide

While the Kogi PDP had suffered from a mass exodus of many of its prominent members before the election, incumbent Governor Idris Wada might have a walk over in picking the PDP's ticket, despite rigorous campaign in some quarters that the PDP should come up with a fresh candidate, the governor said no cause for alarm over his re-election, looking assured for his victory at the poll.

Although the ruling PDP in Kogi State is presently in a bad shape, however the last state house of assembly election Kogi State shows that PDP is not dead in the state.

The party won 14 out of the 25 seats, leaving the APC with 11 seats.

Political pundits in the state believed Wada has lost grip of the party following mass defections of major stakeholders ahead of the last general election, Wada's Special Assistant on Media, Jacobs Edi in a phone conversation with our correspondent said those who left the party were "trouble makers" blinded by selfish ambitions.

"Am worried for the defectors because the APC has rejected them, so they have to come back to PDP because they won't get anything in the APC. Their leaving the party won't be a factor because those going to the APC are the trouble makers of the PDP, who have little or no electoral values."

Edi said Governor Wada is firmly in control of the PDP structures in Kogi State and he has maximum support of the people in his re-election bid.

While dismissing allegation of poor performance, Edi said Captain Wada has performed and impressed the people of the state in the last four years, "they will vote for progress because they are seeing what the governor is doing.

"I can assure that in Kogi State, no cause for alarm for us, the governor has performed better but that will not make the election a walk over , you cannot expect a walkover but Captain Wada would win."

Edi dismissed the APC victory at the presidential election saying it's wrong to permutate the party's fate on the last election.

"You saw how the election turned around after the presidential election, the PDP won the majority at the state House of assembly and I can assure you of how the PDP will win the governorship election anytime."

As residents of the state look forward for saner and fairer electoral process in October, hopes are high on who occupies the Lord Lugard House after the poll.

PDP members rejects Taraba ministerial nominee, says its political miscalculation

 

Coalitions of  organized forums within the Peoples Democratic Party, PDP in Taraba State has rejected the choice of Senator Joel Ikenya as Minister Nominee  saying it's a political miscalculation that could robbed the party of victory at the poll.

In a protest letter to President Goodluck Jonathan and PDP National Chairman, Alhaji Adamu Mu'azu said its unfair  and ill-time for the PDP to nominate Ikenya  from same Southern Taraba that produced the PDP governorship candidate, Darius Dickson Ishiaku .
The letter was signed by leaders of PDP Fans Club Ahmed Sani; PDP Concern Members,  Mrs Christy Jushua; PDP Taraba Youth Congress, Mr. Peter Ezra; Goodluck Sambo Support group Mr. Musa Adi and  Alhaji Abuduallhi Adamu for Neighbor to Neighbor 2015 in Taraba State.
According to the groups  "available records have shows that since 1999 to date there was never a time when a gubernatorial flag bearer and ministerial nominee came from the same zone in Taraba state."

The groups wondered if the PDP does not want the supports of the Taraba North and Central zones which fortunately have the highest numbers of eligible voters and PVC collection.

" its clearly shows that Taraba State PDP is in deep political crisis and confusion by sacrificing the state to the opposition by this unpopular decision of nominating Ikenya as a minister."

The group said "the insensitive decision will undoubtedly affects the voting behavior and chances of the PDP to win the forthcoming general election."

"Our dilemma in this arises from the fact that instead of uniting our party, the nomination of Ikenya who was the gubernatorial flag bearer of the Action Congress of Nigeria ACN in the 2011 election at this time would cause a serious disaffection and tension in our party.

 The injustice done to our party delegates and candidates in Wadata Plaza Abuja on the bogus primary election conducted is still fresh in the minds of our party members and teeming supporters.

The groups however appeals to President Jonathan through the instrumentality of our great party to look into this miscalculation and injustice done to Taraba state politically especially the wrong timing despite growing tensions and uncertainties in the PDP Taraba state chapter.

"We  urge the President and our great party to reconsider this  decision on the ministerial  nominee from Taraba state in order to save  the soul of our great party from pending disintegration and subsequently defeat at the poll."

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Photos: Imo state Governor Rochas Okorocha's amazing transformation of Imo state educational system

The dynamic governor of Imo state recently went on tour of some of his renovated schools in the state and took out time to school the students some Economics fundamentals. And he should know, being a successful businessman himself before joining politics. Above are photos of some of the governor's over 305 newly built precast ultra-modern schools, and renovated ones before and after they've been been renovated. Today, education is absolutely free from Primary to university in Imo state for all indigenes. Books, uniforms, school sandals and canvas also freeand students are even paid stipends for coming to school...#
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See what Muhammadu Buhari promised Nigerians if elected

APC presidential candidate General Buhari has this to promise us
"My dear friends, this is very important to note: it doesn't matter if you are Igbo, Yoruba, Ijaw,Hausa, Idoma, Efik, Ikwere, Urhobo, Igala and, no, it doesn't matter if you are a Christian, Muslim, Animist or Atheist: we need a new direction under a new leadership.

The task ahead will be very challenging and daunting, but it is surmountable. This is what leadership is about; my only desire is to prove to you that Nigeria can truly work. Allow me to prove to you that in your lifetime, you can be proud of this country.

Let me make you this promise today: we will protect your children; we will protect your wealth. We will make this country work again. This is why I am running for the office of the President of Nigeria. This is my promise."

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PDP shares 20bn to govs, as Jonathan begs

Jonathan Begs PDP govs to save him from impeding loss at the poll. Distribute N20 billion to govs. Governors from the PDP states and other key leaders of the party met with President Goodluck Jonathan yesterday night at the Villa. The meeting which extended to the wee hours of this morning, took place at the First Lady Conference Hall in the Villa. All the PDP govs were in attendance exept the Gov of Bauch, Isa Yuguda and his counterpart from Jigawa state, Sule Lamido. They were not also represented at the meeting. The National Executive members of the party were led by its Chairman, Alh. Muazu who also moderated the meeting. Other noticeable key members at the meeting include Chief. Chief Tony Anenih and Chief Edwin Clark who arrived together in an FG marked SUV car around 11 pm. There was only one agenda at the meeting; to use the opportunity created by the new poll date to canvas more supports for the failed administration of Mr. Jonathan. A reliable source at the meeting told me that some of the issues reviewed included the inglorious exist of key figures like Gov Amechi and the Kano state governor from the party. Drama ensued when Muazu tactically blamed the wife of Mr. President for beginning the problem which led to Amechi's gradual exit from the party. It took the intervention of Edwin Clark to save the situation. The chairman also ask Mr. Fani-Kayode and Oliseh Metu to tread softly in their propaganda which seems like giving General Buhari more popularity by the days. He asked the party to be more issued based in its campaign rather than attacking Buhari if the party must get good supports from the North. When the President finally stood up to talk, he thanked all the members present particularly the Governors and the NEC of the party. He assured them of his total support and enjoined everybody to work together for the party to win the Presidency. Quoting him, "The win at the poll is for all of us. We must work hard to save the party and all our contestants. It is true, the report out there is call for greater concern and this is why we must use the new window in the poll shift to talk to Nigerians, woo them and even beg them where necessary." His speech was brief and straight to the agenda of the meeting. Chief Anenih also begged the members present to redouble their efforts in their different states so as to win the coming election, he said, "it is either will win or perish together." Edwin Clark was more vociferous in his remark, the dark boggy man asked rhetorically why Mr. Jonathan seems not acceptable despite all his laudable achievement. It was silence, until the Gov Of Ekiti state interjected, Na conspiracy against us. Laughter pervaded a corner of the hall where some governors of the Northern state were. Edwin Clark continued, "please my people I beg you this election is a must win for our president and all of us." At about 3pm Doyin Okupe in company of Akin Osuntokun came in with a long list and immediately moved towards the president for a small conversations. He dropped the list in front of Mr. President and located an empty sit at one corner of the hall. The president pushed the list towards the direction of Gov Akpabio of Akwa Ibom State and left the meeting with the Vice president around 4.05 am. At this point, Akpabio took over the meeting and he announced that Mr. President has approved the distribution of N20 billion among some state governors. He also announced that the following states (Kano, Lagos, Rivers and Kaduna) would take N2billion each to woo voters in this states. Another 2billion was also set aside to buy some political and public analysts to talk more about Mr. President and his achievement over the last 6 years. Some TV stations such as AIT and Channels would do the Job. The meeting agreed to reduced negative adverts on Buhari, but Gov. Ayo Fayose of Ekiti and his counterpart from Ondo saw it differently.
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Confession of Lagos Area Boys: PDP agents paid us N. 3m to stone Buhari

From Ayodele Samuel, Lagos

Some street urchins in Idumagbo area of Lagos Island have alleged that they were paid the sum of 300,000 to pelt All Progressives Congress, APC, presidential candidate, Gen Muhammadu Buhari during his visit to the Oba of Lagos on Friday.

Peoples Daily investigation reveals that some agents of the Peoples Democratic Party, PDP, met with some touts who dominate Ita Iga and Idumagbo area to carry out out the act.

Idumagbo, Adeniji Adele, Oyebanji, and other volatile spots on the Island popularly called Isale- Eko are notorious for local touts, usually called Area Boys, move in groups to control various 'junctions'.

Our correspondent gathered that various gangs were paid to scuttle General Buhari's visit to the area.

Isale Eko is the political base of former Minister of State for Defense and PDP chieftain, Senator Musliu Obanikoro.

At Idumagbo Avenue, leader of a gang who refused to tell our correspondent his name said that he was contacted and paid for the 'deal'.

"We were paid to disrupt the visit, the PDP people met with us on Wednesday night and promised us a N700,000 to stone Buhari and Asiwaju whenever they visit the Oba's palace in Idumagbo. They gave us 300,000 advance here on Thursday and we shared it because it's part of our national cake," he said

"At first we gathered at ona owa, entrance to the palace before we were dispersed by security agents attached to the APC convoy who came in a white luxurious bus.

"We latter moved to Transformer Junction and Isogari Idumagbo but it was obviously impossible to carry out the action, so we left for stadium where Kwam1 was performing," he said.

Asked if he informed the said PDP agents that he was unsuccessful in accomplishing the task, he said he refused to pick calls of the PDP agents.

"I said I went to dance Kwam1 how will I pick his call, they are all thieves, if someone gives you money to stone anyone in government take it, they are the same anywhere any day."

Another gang leader in Sari Igunmu who also pleaded anonymity alleged that, "Obanikoro is popular here but we are not enjoying his largesse like APC chieftains in the community.

"I was informed of the deal but was not available and did not witness it; it's not impossible because 'boys' are not happy, we are just seeing posters everywhere no money, so I can't blame them, you should also know that this is Koro's territory, so don't be surprised if they are doing PDP, but all 'boys' here are not interested in party; they are looking for what to eat"

Earlier, Senator Obanikoro had stuck to his guns that Gen Buhari was indeed stoned in Lagos while making his way to the APC Lagos presidential rally on Friday.

He said in a statement signed by his media aide Ohimai Amaize that "based on eyewitness accounts, he is aware of the stoning incident at Idumagbo area of Isale-Eko, Lagos State and the fact that a woman was injured in the ensuing fracas after General Buhari's security detail had to shoot into the air to dispel the irate mob."

Obanikoro had condemned the alleged stoning of General Buhari in Lagos, calling on Lagosians to eschew violence.

"The stoning of APC Presidential candidate, General Muhammadu Buhari today in Lagos is utterly condemnable. The 2015 presidential polls must be about issues and sportsmanship moderated with every sense of decency and civility", he said.

Senator Obanikoro noted that the APC's denial of Buhari's stoning in Lagos was not only pointless and futile but also does not give the APC any advantage.

"When things go wrong, we must acknowledge and condemn it in order to forestall any future occurrences.

The All Progressives Congress (APC) has denied the concocted story by former Minister of State for Defence that the party's presidential candidate, Gen.Buhari, was pelted with stones during the party's rally in Lagos, saying a lie has never worn a bolder face.

APC in a statement issued in Lagos on Friday by its National Publicity Secretary, Alhaji Lai Mohammed said Gen. Buhari and other top leaders of the APC rode in a open bus from the Palace of the Oba of Lagos to the Teslim Balogun Stadium venue of the rally, to great cheers from Lagosians who lined the route.

''Not once was he pelted with stone during the almost two-hour ride. It is obvious that those who were paid by Mr. Obanikoro to stone the General failed to deliver. We therefore urge him to seek a refund of whatever money he paid to his hired hands to pelt Gen. Buhari with stones,'' it said

Confession of Lagos Area Boys: PDP agents paid us N. 3m to stone Buhari

				Confession of Lagos Area Boys: PDP agents paid us N. 3m ... Share This Tags From Ayodele Samuel, Lagos
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