Jigawa State Governor, Mallam Umar Namadi, has said the recent incidents of destruction and looting of public and private properties in the state were politically motivated.
The governor disclosed this on Friday while speaking at the flag-off event for the emergency distribution of various food commodities to vulnerable households, donated by the federal government in collaboration with the state government.
He emphasized that political motives, not any public protest, drove these acts of violence.
Governor Namadi expressed his dismay over the violence, pointing out that individuals with political motivations hijacked it and tricked innocent youths into participating in the looting and destruction.
According to him, “Despite repeated calls by the Ulama and other highly respected members of our communities to stop the protest that could have otherwise been peaceful and orderly, it was hijacked by certain crooked individuals and hoodlums.
“More disheartening is how these political miscreants lured and polluted the minds of some of our unsuspecting youths into participating in the unruly protests,” he said.
He condemned the actions, stating that the damage caused to both public and private properties has set the state back significantly.
“There is no doubt this has taken us several steps backward, as public and private properties worth several billions of Naira, including emergency relief materials and agricultural inputs meant to be distributed to the vulnerable segments of the population, were looted or vandalized.
“Notwithstanding, as a humane government committed to lasting improvements in the welfare and economic well-being of our people, we will continue to implement more initiatives, interventions, and social safety net programs in line with our Agenda for Greater Jigawa.”
The governor extended his sympathies to those affected by the recent floods in thirteen local government areas of the state.
EndBadGovernance protests in Jigawa politically-motivated – Gov Namadi
EndBadGovernance protests in Jigawa politically-motivated – Gov Namadi
NNPCL denies selling employment slots
The Nigerian National Petroleum Company Ltd has denied rumours of selling employment slots to Nigerians and anyone who wishes to buy.
In a statement on Saturday in Abuja signed by its Chief Corporate Communications Officer, Olufemi Soneye, the oil firm described such rumours as antics of fraudsters who want to take advantage of unsuspecting applicants.
The national oil company called on Nigerians to disregard such rumours and warned against paying money to anyone for any job in the company.
The statement read, “The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has called on members of the public, especially jobseekers, to discountenance rumours of employment slots for sale.
“The company states that there is no iota of truth in the insinuations that it has employment slots on offer to anyone who wishes to buy, describing such as antics of fraudsters who want to take advantage of unsuspecting applicants.
“It cautions that as a responsible corporate entity, recruitment into the company is a straightforward process and does not involve the sale of slots or inducement of any kind.
“It warns that anyone who pays money to anyone for any job in the company does so at his or her own risk.”
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Declare war on insecurity, economic woes, Obi urges Nigerians
A former Labour Party presidential candidate, Peter Obi, has made a call to action in response to insecurity and economic hardship in the country.
Citing recent cases of kidnappings, including the abduction of medical students in Benue, and a state commissioner and his wife in Edo, Obi stated that it was time to “declare war on this massive insecurity.”
In a statement on X.com on Saturday, Obi wrote, “When I say we should declare war on the economy, power, and insecurity, some people spin the narrative, while others complain. But what else can we do?
“In the last 24 hours, several people have been kidnapped across Nigeria, including about 20 dental students from Maiduguri and Jos in Benue State.
“An Anambra State Commissioner and his wife were abducted in Edo State, and others travelling with them were killed. These are just a few of the many tragic incidents happening across the country.”
The former Anambra State Governor, hence, called for a united battle against the challenges facing the nation.
“We cannot continue living like this,” Obi said. “It’s time for bold action, collective resolve, and a united front against these challenges.”
“We must declare war on this massive insecurity and other ills that threaten our society and work tirelessly to build a safer, more prosperous, and just society for all,” he added.
According Online reported on Friday that not fewer than 20 medical and dental students, along with a house officer, were kidnapped by gunmen in Benue State.
The students were reported to be travelling to the Federation of Catholic Medical and Dental Students annual convention in Enugu when they were ambushed around 5.30pm in the Otukpo area.
Similarly, the Commissioner for Youths Development in Anambra State, Patrick Aghamba, and his wife were reportedly kidnapped in Edo State on their way to Abuja on Friday.
NGX WEEKLY ROUND-UP: Investors gain N846bn as equities market crumbles
Investors in Nigerian equities market endured a torrid trading week on the floor of the NGX losing N846.53bn as market capitalization fell to N55.13trn from N55.98trn the previous week.
This following a loss of N480bn in the previous week.
The bourse recorded losses in all the five trading days of the week.
The market capitalisation decreased by N846.53bn as market capitalization fell to N55.13trn from N55.98trn the previous week.
Similarly, the All-Share Index (ASI) fell by dipped -1.51% to close the week at 97,100.31 points from 98,592.12 points the previous week.
Nigerian equities market began the week on a low on August 12, 2024 as investors lost a massive N404bn at the end of trading session.
Similarly, the equities market market continued its bearish trend on Tuesday August 13, 2024 as investors lost N278bn at the end of trading session.
The bearish trend in the Nigerian equities market continued unabated on Wednesday August 14, 2024 as investors lost N80bn at the end of trading session.
For the fourth consecutive trading day, the bearish trend in the Nigerian equities market continued on Thursday August 15, 2024 as investors lost N84bn at the end of trading session.
READ ALSO:NGX: Oando, ABCTRANS, others drag equities market down as investors lose N84bn
The equities market ended the week in the red for the fifth consecutive day on Friday August 16, 2024 as investors lost N4mn at the end of trading session.
A total turnover of 2.033 billion shares worth N42.155 billion in 45,157 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.679 billion shares valued at N49.017 billion that exchanged hands last week in 47,451 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.377 billion shares valued at N25.652 billion traded in 20,132 deals; thus contributing 67.73% and 60.85% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 276.729 million shares worth N6.026billion in 6,848 deals. The third place was the Services Industry, with a turnover of 101.217 million shares worth N682.062 million in 2,475 deals.
Trading in the top three equities namely Guaranty Trust Holdings Company Plc, Veritas Kapital Assurance Plc and Japaul Gold & Ventures Plc (measured by volume) accounted for 674.233 million shares worth N16,055 billion in 3,977 deals, contributing 33.16% and 38.08% to the total equity turnover volume and value respectively.
RT BRISCOE recorded the biggest share price increase percentage gaining 33.86% followed by TOTAL which increased its share price by 19.69% per in the process.
JBERGER also increased its share price by 18.18%.
On the flip side, CUTIX recorded the biggest decline in share prices by percentage shedding 17.50% followed by BUA CEMENT for the second consecutive which shed 14.82% of its share prices.
OANDO also shed 11.70% to close at N35.85 from N40.60 at the beginning of the week.
By: Babajide Okeowo
The post NGX WEEKLY ROUND-UP: Investors gain N846bn as equities market crumbles appeared first on Latest Nigeria News | Top Stories from TVN.
State governors must face scrutiny like national leaders – Okai
Activist and political analyst, Usman Okai Austin, has urged Nigerians to direct their scrutiny and accountability demands towards their state governors with the same fervor they apply to questioning members of the National Assembly and the Presidency.
Okai emphasized the need for citizens to engage their governors on pressing issues affecting their states, particularly in light of the current economic hardships faced by many Nigerians.
In a statement he issued on Saturday, Okai said: “If only we can hold our governors accountable the way we question our National Assembly members and the presidency, we might see a significant change in governance at the state level.”
While acknowledging that President Bola Tinubu, despite not being his preferred choice, has made efforts to explain his policies and decisions, Okai pointed out the lack of transparency and accountability from many state governors.
“The President has faced scrutiny and has, on several occasions, addressed the nation regarding his policies. Senate presidents have openly expressed their positions on national issues, and many lawmakers provide accounts of their stewardship. But what about our governors?” he questioned.
Okai lamented that state governors often evade public discourse, particularly on issues related to economic hardship and governance.
“Many of them are quick to blame the President for the nation’s challenges, yet they fail to disclose vital information about their states. How much funding comes into the state in terms of federal allocations, intervention funds, and internally generated revenue? What is the state wage bill, and how is state income and expenditure managed?” he asked.
He highlighted a growing public outcry regarding the financial entitlements of senators, noting that while they earn significant sums, many lawmakers are increasingly engaging with their constituents.
“People are calling for the prosecution of senators for earning 21 million naira a month as running costs. Today, senators are even more in contact with their people than the governors. I am not excusing the lawmakers, but the reality is that some of them go home every week to address the needs of their constituents.
“What about the governors? They are accused of looting security votes, siphoning local government funds, misappropriating state assembly entitlements, and denying state judges and their staff their rightful benefits,” he added.
He further challenged the governors to be more transparent with their constituents.
“How many governors are bold enough to open their state books for public scrutiny? It is time for citizens to demand answers and hold their governors accountable for their actions and inactions,” he urged.
“Our governors must be held to the same standards as our national leaders. It is our right and responsibility as citizens to ensure that our leaders are working for us,” Okai said.
State governors must face scrutiny like national leaders – Okai
Oil firm denies importing substandard products
Matrix Energy Group has denied claims of importing substandard petroleum products into the country, insisting that its products have consistently met approved specifications.
The oil marketing and trading company clarified in response to an online publication that Matrix Energy is one of the biggest fuel importers via Malta, a tiny European country.
The Chairman of Dangote Industries Limited, Aliko Dangote, had alleged some personnel of Nigerian National Petroleum Company Limited, oil traders and terminals have opened a blending plant in Malta.
This was immediately denied by the group chief executive officer, NNPCL, Mele Kyari.
Nigeria’s petroleum importation from Malta surged significantly to $2.8 billion in 2023, compared to zero between 2017 and 2022, and a mere $13.32 million in 2016.
However, in its official reaction, the management of Matrix Energy, affirmed that it has never imported or distributed any substandard cargo in the company’s two decades of operation.
A statement signed by the Head Corporate Communications, Matrix Energy Group, Ibrahim Akinola, on Saturday, explained that the company did not discharge 200,000 metric tons of PMS into its facility in July 2024 as claimed by the news report.
The statement read, “Our attention has been drawn to a recent online publication where our name was featured. We would have loved to ignore the tissue of lies spewed in the publication but the need to set the records straight and facts from sensation behoves us to address the matter, as well as the need to protect and uphold the integrity of the brand and reputation we have meticulously built over the past 20 years.
“Matrix Energy Group is a wholly indigenous and independent oil marketing and trading company, with substantial investments in strategic infrastructure, including vessels, oil and gas terminals, trucks, and retail outlets across 28 states, including the Federal Capital Territory.
“We have consistently imported products that meet the approved specifications, and we have never been found wanting. Our commitment to quality is reflected in the fact that none of our customers have ever rejected our products; indeed, demand for Matrix products often exceeds our capacity to supply, a testament to our reputation for reliability.”
According to the statement, the company said it has followed laid down procedures issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in importing fuel products and has never been found wanting.
It added that the recently introduced Utapate crude oil blend from OML 13 was obtained through a bidding process and any company that wins the tender is operating within the law.
The statement added, “The Nigerian Midstream and Downstream Petroleum Regulatory Authority is the sole regulatory body empowered by the Petroleum Industry Act to issue import licenses and enforce the Standards Organization of Nigeria product specifications.
“Contrary to the claims made in the aforementioned publication, we did not discharge 200,000 metric tons of PMS into our facility in July 2024. While we have the capacity and customer base to handle such volumes, Matrix Energy has never imported or distributed any substandard cargo in our two decades of operation. Our quality test has never been doubted by the regulators and Nigerians who have found a partner in us.
“It is important to note that the Nigerian National Petroleum Corporation Limited recently introduced its Utapate crude oil blend from OML 13. NNPC traditionally tenders its free crude cargoes, and any company that wins the tender is operating within the law. Matrix Energy like other companies also won the tenders.”
The company also denied any wrongdoing by its Chief Executive Officer, Abdulkabir Adisa, stressing that its CEO, “Is a talented and dedicated Nigerian with the right to associate freely as well as trade freely in any part of the world. As he stated in his presentation before the Nigerian Senate, we are not aware that Nigerian companies have been banned from bringing in legitimate and standard products from outside the country and until such is done, we will continue to serve the public with the best quality products.
“Those who know our CEO understand that he is far from lazy; rather, he is deeply committed to making a positive impact.
“His selection by Mr President to serve as a member of the Economic Coordination Council is a recognition of his dedication to shared values and his commitment to the betterment of Nigeria in the Renewed Hope Agenda, for which he remains deeply grateful.
“Matrix Energy Group remains steadfast in our commitment to supporting Nigeria by ensuring the availability of petroleum products at competitive prices, in alignment with Mr President’s vision for the country.”
Beef up security around 500,000-hectare farmland, ex-military officers tell FG
Ex-military officers and a security expert have expressed concern over the 500,000-hectare farming scheme established by the Federal Government.
The scheme is part of measures by the FG to address food insecurity in the country.
President Bola Tinubu had in his New Year address stated that the government would cultivate about 500,000 hectares of farmlands to combat hunger nationwide.
A Senior Special Assistant to the President on Media and Publicity, Mr Temitope Ajayi, disclosed that the programme would enlist farmers in mostly northern states where agricultural activities were predominant.
However, some security experts, including a retired general and captain, have tasked the FG to address insecurity holistically if it wants the scheme to succeed.
According to the experts, insecurity poses serious threats to the farming scheme, saying that the farmers and their farms are exposed to danger.
They called on the Federal Government to have special security plan for the protection of forests, farms and the farmers.
A retired Brig.-Gen., Bashir Adewinbi, said the prevailing insecurity would mess up the programme if not critically addressed.
According to Adewinbi, the 500,000-hectare farming scheme will only achieve its purpose if the Federal Government nip the insecurity in the bud.
Speaking with Saturday According, Adewinbi said, “The FG has a laudable idea on the 500,000-hectare farming scheme, but there is a need for adequate security so that the effort will not go to waste.
“Either forest guard or any other security measures, the FG must address insecurity issues for the idea to develop and serve the intended purpose. Leaving insecurity unaddressed can make a mess of the idea.
“Besides, it is a wrong idea to concentrate the 500,000-hectare farming scheme in the North. It is not good enough. It will not solve the problem. Herders are not causing much havoc in the north compared to what we are experiencing in the \South”.
Commenting on the scheme, a security expert, Dickson Osajie, called for the establishment of a robust forest guard system to safeguard Nigeria’s forests and protect lives and property.
According to Osajie, the absence of dedicated forest guards leaves vast forest areas vulnerable to criminal activities and terrorism.
He said, “Any given nation that wants to succeed in the protection of lives and property must understand that forest guard is mandatory to protect our forests because most of these criminal elements take their shelter in the forest and our government spaces.
“If you have a wide landmass of forest, and there are no forest guards, then it is an invite for forest criminals and terrorists to come and occupy such territory.
“The only sense of forest guard is to protect even our vegetation, our trees and our forest from invasion or from arson or any incidents. That is why we have a forest guard to also protect the forest to look out for terrorists that seek refuge within that forest.”
Osajie also advocated that the forest guards should be armed with weapons to effectively counter the threats posed by terrorists and other aggressors.
Lending his voice to the matter, retired Group Captain Sadiq Shehu, said the farm project might fail if the Federal Government didn’t put security measures in place right from the planning stage.
According to Shehu, there is no need for the creation of forest guards, stating that the police and officers of the Nigeria Security and Civil Defence Corps would provide adequate security for the farms if they are trained.
He said, “There is a concept they called Crime Prevention Through Environmental Design, every public project should have the CPTED concept.
“Nigeria likes to duplicate agencies and institutions. You don’t need to design any outfit and call it forest guards. It is just a new way of raising money to spend. Where is the special squad for school safety launched by the police?
“The Nigeria Security and Civil Defence Corps also said it has a special squad for school safety but where are they? We don’t need any duplication in the name of forest guard. The police and civil defence can do the job if you train them.
“The people handling the farm project should consider safety and security from planning, right from the design stage.”
Speaking on the need to protect farmers in the South-West, the Commander for Osun Amotekun Corps, Mr Adekunle Omoyele, said the security network was committed to preventing any attack on the farmers.
Omoyele, a retired Chief Superintendent of Police, said the South-West forests needed to be guarded to prevent infiltration.
He said Osun Amotekun was working on intelligence gathering to guarantee safety of lives and property in the state.
Omoyele disclosed that the security outfit has mapped out some border areas exposed to infiltration that could lead to attack on the farmers.
“We have big forests in Osun, and the state shares borders with other states with forests as well. We have mapped out some areas in our forests that are exposed to infiltration to prevent invasion or any breach.
“We have set up mechanisms to prevent attacks on our farmers, we rely on intelligence and coordination.
“Our own Amotekun is a true system of community policing. Our officers are those who know the terrain and can track any suspect. They know the farmers and can detect intruders So, we are going to exploit that.”
400 terrorists, others at large two years after Kuje jailbreak
Two years after the attack on the Kuje Medium Custodial Centre in the Federal Capital Territory, over 400 escaped inmates remain at large, including several terrorists.
Despite ongoing efforts, security agencies have been unable to recapture the fugitives.
According to data on the Nigerian Correctional Service’s website, over 400 inmates who fled during the jailbreak on July 5, 2022, are still unaccounted for. The figure includes Boko Haram terrorists.
The jailbreak, claimed by the Islamic State in West Africa Province, saw over 900 inmates break free from the facility.
In response, Nigerian authorities launched a manhunt, recapturing 421 inmates in the immediate aftermath.
The identities of the remaining fugitives were shared with the International Criminal Police Organisation and circulated among various security agencies.
Concerns have been raised about the potential implications of these individuals remaining at large.
A security expert Oladele Fajana, who spoke to our correspondent on Friday pointed out that poor data management was a key factor slowing down the process of recapturing these individuals.
“Without a comprehensive and well-maintained database, tracking and apprehending escapees becomes more challenging”, he noted.
Fajana emphasised the problem of porous borders, suggesting that escapees could easily cross into neighbouring countries, complicating efforts to recapture them.
He said, “Poor data management is responsible for the slow recapturing of these fleeing inmates. Also, the issue of close borders is a challenge because the fleeing inmates could easily go there. The government should make sure that the database of every citizen is captured so that he or she can easily be traced or arrested in case of any crime.”
Tell Nigerians truth about fuel subsidy, Bode George urges Tinubu
A chieftain of the People Democratic Party, Bode George, has called on President Bola Tinubu to come out and tell Nigerians the truth about fuel subsidy.
George, a former deputy national chairman of PDP said Nigerians deserved to know if the Tinubu government was still paying subsidy on fuel through the back door or not.
There have been speculations that the Federal government had returned fuel subsidy with the former governors of Bauchi and Kaduna States, Isa Yuguda and Nasir El-Rufai accusing the government of now paying more for fuel subsidy than before.
Recall that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun revealed that Nigeria currently spends $600m on fuel importation monthly.
But George while featuring the Morning Show of Arise Tv on Friday, bemoaned what he called the lack of transparency by the Federal government regarding the payment of fuel subsidy.
“I’m so miffed about the goings on about this particular industry. On one side you hear the subsidy is still there, on another side you hear that there is no subsidy, who is telling the truth? Let us know the truth for God’s sake, it is our fundamental right and if the people know what the truth is, they will support you to succeed.
“The NNPCL is owned by the Federal government which means it is owned by all Nigerians, we want to know what exactly is going on there. I’m not in that field of operation, but I’m educated enough to listen to A and listen to B and then conclude in mind if there is need to support the operations or the policies of the government we will and if there are shortfalls in what they are telling us, we will say,” George said.
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Lassa fever, others may trigger next pandemic, says WHO
The World Health Organisation has listed more than 30 pathogens that are likely to cause the next pandemic in the African region.
This was revealed in its latest report titled, ‘Pathogens prioritisation: A scientific framework for epidemic and pandemic research preparedness.’
Among the viruses and bacteria are Lassa fever, Mpox, Ebola, dengue fever, respiratory virus, Severe Acute Respiratory Syndrome, and Chikungunya virus, among others.
Lassa fever is endemic in Nigeria and the annual peak of Lassa fever cases is typically observed during the dry season (December–April). Thus, the number of infections is expected to rise further until the end of the dry season.
Mpox outbreaks are caused by different viruses called clades.
“Clade 1b has been confirmed in Kenya, Rwanda, and Uganda, while the clade in Burundi is still being analysed.
At the same time, cases of clade 1a have been reported this year in DR Congo, the Central African Republic, and the Republic of Congo, while clade 2 has been reported in Cameroon, Côte d’Ivoire, Liberia, Nigeria, and South Africa.
Recently, the WHO prequalified TAK-003 as a new vaccine for dengue amidst a surge in mosquito-borne viral infections across Africa, Asia, and the Americas.
The prioritisation work underpinning the report involved over 200 scientists from more than 50 countries, who evaluated the science and evidence on 28 virus families and one core group of bacteria, encompassing 1652 pathogens.
The epidemic and pandemic risk was determined by considering available information on transmission patterns, virulence, and availability of diagnostic tests, vaccines, and treatments.
The list was compiled by 200 scientists from more than 50 countries after reviewing a shortlist of 1,652 pathogens.
The Coalition for Epidemic Preparedness Innovations and the World Health Organisation however, called on researchers and governments to strengthen and accelerate global research to prepare for the next pandemic.
The Chief Executive Officer of CEPI, Dr Richard Hatchett said, “WHO’s scientific framework for epidemic and pandemic research preparedness is a vital shift in how the world approaches countermeasure development, and one that is strongly supported by CEPI.”