Cloned Nigerian Anchor

Author: Chike Ozohili

Kidnappers kill 2, abduct 2 others in Ogun farm

Gunmen, suspected to be kidnappers, on Wednesday shot dead two people and also abducted two others at a farm in Awo Village in the Obafemi-Owode Local Government Area of Ogun.

One of the deceased was an area commander of Ogun security outfit, So-Safe Corps, identified as Saheed Ogunrinde.

The kidnappers were said to have appeared in camouflage and invaded a popular farm in the village which had more than 200 workers.

The kidnappers were reportedly trailed by combined team of policemen and So-Safe Corps operatives.

Confirming the incident, the Commander of So-Safe Corps, Soji Ganzalo, said his men participated in the operation to salvage the situation after the suspected kidnappers had invaded the village.

“A distress call was made to Owode Area Command by the DPO Owode Division that two people were killed and two others were kidnapped in Abule Awo, Orile-Imo on Tuesday.

“The Owode Area Command of So-Safe led by Saheed Ogunrinde moved to the affected location to salvage the situation.

“On getting there, a joint operation was carried out by our men and Nigeria police and all efforts to track the kidnappers proved abortive.

“The following morning, on Wednesday, when our men resumed with the police to search the location which led them to the Interchange Area.

“On sighting our men, the kidnappers opened fire and their bullet hit Ogunrinde, who died in the process.

“His body has been taken to his house at Ajura and buried. His rifle and phone were taken away by the kidnappers,” Ganzalo said.

When contacted, the state police spokesman, Abimbola Oyeyemi, confirmed the incident.

Oyeyemi said one of the suspects had been arrested and that others were being trailed by operatives of the joint operation.

“Two people were shot and one of them died on the spot. They also kidnapped two,“ he said.

Oyeyemi disclosed that one suspect had been arrested.

06/01/2023
NSCDC parade suspected child rapist, vandal in Cross River

The Nigeria Security and Civil Defence Corps on Wednesday in Calabar paraded a man suspected to have raped two siblings aged six years and 11 years.

The Commandant of the NSCDC in Cross River, Mr Samuel Fadeyi, told newsmen that the suspect was arrested following an alarm raised by neighbours.

He said the suspect allegedly drugged the two minors who were hawking cow skin “Ponmo’’ by giving them soft drinks which he had spiked.

He explained that immediately the drug in the soft drinks started having effect on the children, the suspect allegedly defiled them.

“Luck ran out of the child rapist and when we tried to arrest him, his colleague, a suspected cultist and phone snatcher whom we had arrested earlier, tried to help him to escape.

“The suspected cultist was arrested anew alongside the suspected rapist.

“The suspected rapist, however, said he did not commit the crime though he had engaged in such activities in the past. He said he was being accused on account of past incidents.

“We have taken the children to the hospital where they were confirmed to have been sexually-abused,’’ Fadeyi said.

The corps also paraded a suspected vandal, aged 29 years who confessed that he committed the crime and that it was his third time.

Fadeyi said the vandal was arrested in Calabar South for vandalism of electrical installations and theft of armoured cables which he sold to scrap metal dealers.

“The suspected vandal confessed to the crime and he will lead us to his patrons.

“He claimed that he vandalised the installations and stole the armoured cables to be able to feed and begged for forgiveness,’’ the commandant said.

Fadeyi added that both suspects would be arraigned soon.

05/31/2023
Zamfara airlifts 2500 pilgrims to Saudi Arabia

The Zamfara Hajj Commission has airlifted 2,500 out of the 3,100 intending pilgrims from the state to Saudi Arabia in six flights.

The Secretary of the commission, Alhaji Anas Shuaibu, confirmed this to newsmen on Wednesday in Gusau, after releasing six flights to Sultan Abubakar III International Airport, Sokoto.

Shuaibu said the commission had secured Visas for all the 3,100 state intending pilgrims, adding that the remaining pilgrims will soon be airlift to the holy land for the exercise.

He also said that the state government had sensitised the pilgrims on what was expected of them during the pilgrimage.

The secretary further explained that each flight consisted of Hajj officials from the state, medical personnel, scholars and other stakeholders, and each pilgrim had been vaccinated while females were tested for pregnancy before their departure.

According to him, Federal Government agencies, including NDLEA, Immigration and Customs, have also educated the pilgrims on dangers attached to carrying prohibited items.

He however disclosed that only one woman had been sent back to Nigeria based on Passport issue, but she had returned to Madinah for the exercise after resolving her challenge.

He urged the intending pilgrims to fear Allah in all their dealings while in the holy land and beyond.

Shuaibu explained that the state government had put everything in place to ensure safety, comfort and welfare of the pilgrims in the Kingdom of Saudi Arabia, in which decent accommodation was secured in Madinah and Makkah.

He therefore called on the pilgrims to be good ambassadors of the state and the country by avoiding any act that could tarnish their image and that of the nation.

Shuaibu said their current challenge was the hike in petroleum price as they had to transport the pilgrims from Gusau to Sokoto because of the absence of an airport in the state.

The scribe commended the efforts of the state government along with security agencies, first aid groups, individuals and other organisations for their support and cooperation towards ensuring a successful Hajj operation.

The six flights were recorded on Thursday.

05/31/2023
Alleged Misconduct: NAPTIP sacks Deputy Director, 4 officers

The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has dismissed five of its personnel, including a Deputy Director, for alleged misconduct.

This is contained in a statement issued by Mr. Vincent Adekoye, a Press Officer of the agency on Wednesday in Abuja.

Adekoye said the misconduct ranged from corruption, demanding and receiving bribes from suspects and relatives, and leaking confidential information to suspects.

Others are alleged violation of oath of secrecy; stealing and alteration of official records and absent from duty without Official leave.

He said that these offence are all contrary to provisions of the Public Service Rules and other extant laws and regulations.

He said that two other officers were demoted by two ranks for soliciting for bribe from a suspect of human trafficking, while one officer was demoted by one rank for negligence of duty.

He said that the disciplinary actions followed the approval of the Governing Board of the agency at its meeting on May 25.

Adekoye said that at the meeting, the board considered and ratified the decision of the agency’s Senior Staff Committee (SSC) which earlier sat on the disciplinary matters in accordance with the Public Service Rules and other extant laws and regulations.

05/31/2023
FIRS: Nigeria’s Tax-To-GDP rises to 10.86%

Nigeria’s Tax-to-GDP ratio has risen to 10.88 percent from between 5-6 per cent in the last 12 years.

The new ratio was communicated to the Federal Inland Revenue Service (FIRS), via a letter signed by the National Bureau of Statistics (NBS), in collaboration with the Federal Ministry of Finance and the FIRS, using data from 2010 see to 2021.

Special Assistant Media and Communications to the Executive Chairman, FIRS, Johannes Oluwatobi Wojuola, in a statement to journalists Wednesday stated that the revision took into account revenue items hitherto not previously included in the computations; particularly, relevant revenue collected by other agencies of government.

Tax-to-GDP ratio is a measure of a nation’s tax revenue relative to the size of her economy as measured by Gross Domestic Product (GDP). The ratio is a useful tool for assessing the “health” of a country’s tax system, and highlighting its tax potentials relative to the size of the economy. It is the ultimate measure of the effectiveness of a nation’s tax system compared to other countries.

Reacting to the news, FIRS Executive Chairman, Mr. Muhammad Nami, explained that sources which previously put the country’s Tax-to-GDP ratio at between 5% and 6% did not consider tax revenue accruing to other government agencies in their computation. Particularly, revenues collected by agencies other than the FIRS, Customs and States Internal Revenue Service were excluded.

According to Nami, the situation was peculiar to Nigeria as most other countries operate a harmonised tax system (all or most tax revenues are collected by one agency of government) with single-point tax revenue reporting. As such, all relevant tax revenues are included in the computation of the Tax-to-GDP ratio.

“In order to correctly state the Tax-to-GDP ratio, the FIRS initiated a review and re-computation of the ratio for 2010 to 2021. In recomputing the ratio, key indicators that were previously left out were taken into account. This resulted into a revised Tax-to-GDP ratio of 10.86% for 2021 as against 6% hitherto reported,” the statement noted.

The FIRS boss noted that Nigeria’s Tax-to-GDP ratio should have been higher than 10.86% but for certain economic and fiscal policy factors, including tax waivers and leakages occasioned by the country’s fragmented tax system.

“It is important to note that the Tax-to-GDP ratio for Nigeria should be higher, but for the impact of tax waivers contained in our various tax laws (including exemptions to Micro, Small and Medium Enterprises brought-in by Finance Act, 2019), low tax morale, leakages occasioned by the country’s fragmented tax system and the impact of the rebasing of the GDP in 2014”, he explained.

The Service helmsman implored the government to consider reviewing its policies on tax waivers thereby guaranteeing increased revenue to prosecute its programmes and positively move the needle of the country’s tax-to-GDP ratio.

The Statistician-General of the Federation, Prince Adeyemi Adeniran, in his letter to the Executive Chairman of FIRS, described the revision as a facelift to the Tax-to-GDP ratio for Nigeria in comparison with other countries.

He further noted that the NBS had “carefully and diligently reviewed the methodology used for computing the revised estimates, as well as the various items that have been included in the new computation,” and that the NBS as an outcome of its review and meetings with FIRS has adopted the new Tax-to-GDP computation.

05/31/2023
Nigerians groan as Presidency, NNPCL hike fuel pump price to N555PL

Details of the Tuesday meeting between President Bola Tinubu and the Group Chief Executive Officer of the Nigeria National Petroleum Company limited (NNPCL), Malam Mele Kyari, has emerged as the company has rolled out template for new pump price per litre nationwide.

Malam Kyari had on Tuesday had a closed door meeting with President Tinubu, following the controversy generated by inaugural speech comment on removal of fuel subsidy.

Template for hike in fuel pump price per litre as categorized according to geopolitical zone effective, 31 May, 2023.

Under the new prices depending on geopolitical zone, a price per litre will not cost less than N488 but will cost at most N555.

The NNPCL has also directed dealers to reflect the new pump price in the respective geopolitical zones effective today, 31 May, 2023, in line with the released price templated.

“Please implement meter change as approved effective today 31st May 2023. Wayne is to attend to all locations as relates to their area of coverage in our network”, the directive stated.

A statement by Garba Muhammad, Chief Corporate Communications Officer NNPC Limited said as it strives to provide quality service which the company was known for, prices would continue to fluctuate to reflect market dynamics.

“The NNPC Ltd. wishes to inform our esteemed customers that we have adjusted our pump price of PMS across our retail outlets, in line with the current market realities.

“We assure you that NNPC Ltd. is committed to ensuring ceaseless supply of products.

“The Company sincerely regrets any inconvenience this development might have caused,” Muhammad said.

He appreciated the continued patronage, support and understanding of its customers through this time of change and growth.

The sudden increase in pump price per litre contradicted President Tinubu’s explanations of his inuagural speech comment on immediate removal of fuel Subsidy.

He had on Tuesday said that the removal would take effect end of June, 2023, in attempt to allay fears and tempers heightened by acute shortage of fuel and hike in prices by dealers following his inaugural speech comment of fuel Subsidy removal.

Nationwide, following his inaugural speech, queues have returned to the fueling stations. While dealers who are open for operations have hike their pump price up to between N600-N700 per litre, just as most filling stations closed shop.

Commuters nationwide have been stranded as transporters have hiked the fares resulting to chaotic situation just two days on assumption of office by President Tinubu.

Reports indicate that motorists who had queued up overnight for fuel now refused to buy at the newly reflected high pump price per litre.

05/31/2023
Hoarding/Profiteering: Gov Diri warns marketers as fuel price hits N600

Governor Douye Diri of Bayelsa has warned oil marketers in the state against hoarding and profiteering on Premium Motor Spirit (PMS), commonly known as petrol.

The warning is sequel to the sudden hike by fuel marketers of PMS to N600 per litre, following President Bola Tinubu’s pronouncement in his inaugural address that fuel subsidy was gone.

Diri, in a statement issued by his Chief Press Secretary, Mr Daniel Alabrah on Wednesday, warned that his administration would take stern measures against any filling station that flouted the directive.

He said the state government had received reports that some filling stations in the state capital had hiked the pump price of petrol above the usual price of between N193 and N250 per litre to N500 per litre and above.

“Marketers in the state are said to have reacted to the pronouncement of President Bola Tinubu during his inauguration on Monday that the Federal Government subsidy on petrol is gone.

“The Presidency, however, issued a clarification statement on Tuesday that the removal of the subsidy was yet to take effect,” the statement read in part.

The governor said it was wicked for oil marketers to swiftly seek to profiteer at the detriment of the people following a mere pronouncement that had not taken effect.

Diri noted that the pump price of petrol is a significant determinant of the cost of goods and services in the country.

The governor assured that his administration would not allow the people of Bayelsa to suffer undue hardship from the profiteering activities of some greedy businessmen.

Diri said he had directed the state Ministry of Mineral Resources and the petroleum task force in the state to shut any filling station hoarding the product or caught selling above the usual pump price.

He said: “I have directed the relevant Ministry and the state’s task force on petroleum to ensure that all filling stations sell petrol within the usual price range.

“I have equally directed that any filling station that flouts this directive or fails to revert to the usual price be shut down. We will take further stern measures against any station that defaults.

“This directive takes immediate effect,” Diri said.

05/31/2023
Nigerian stock market hits N1.51trn gain

The equities market of the Nigerian Exchange Ltd. (NGX) opened trading for the week on a bullish note driven by investors’ confidence, following the inauguration of President Bola Tinubu.

Tinubu, in his inaugural speech, said on Monday that the former administration did not capture fuel subsidy in the 2023 budget and he would ensure a unified exchange rate as part of measures to boost the Nigerian economy.

Specifically, the market capitalisation recorded a gain of N1.505 trillion or 5.22 per cent to close at N30.349 trillion from N28.844 trillion posted on Friday.

Also, the All-Share Index (ASI) rose by 2,764.47 points or 5.22 per cent to settle at 55,738.35 compared with 52,973.88 recorded at the previous trading.

Accordingly, the Year-to-Date gain moderated to 8.76 per cent.

Index heavyweights, MTN Nigeria, Dangote Cement and BUA Cement drove the market’s strong performance, alongside gains in Tier- one banking stocks such as Guaranty Trust Holding Company (GTCO), Access Holdings, United Bank for Africa (UBA) and Zenith Bank.

Access Holdings in the shares of Transcorp topped the most traded chart with 199.62million shares valued at N2.45 billion.

GTCO followed with 76.38 million shares worth N2.18 billion, while Zenith Bank traded 66.13 million shares valued at N1.92 billion.

UBA traded 81.99 million shares valued at N831.47 million, while Transcorp transacted 95.68 million shares worth N309.24 million.

Analysts at Vetiva Securities Ltd., said that “The market exhibited a favorable response to President Tinubu’s inauguration speech and his proposed plans for the country’s economy.

“This positive sentiment is anticipated to endure in the upcoming session, as investors responded positively to the latest transition of power to the new administration.”

Market breadth closed positive at with 54 advancing stocks that outnumbered four declining ones.

Zenith Bank recorded the highest price gain of 10 per cent to close at N29.70, per share.

Transcorp Hotels and Nigeria Breweries followed with a gain 10 per cent each to close at N8.25 and N42.35, per share respectively.

Jaiz Bank and First City Monument Bank (FCMB) alao went up by 10 per cent each to close at N1.10 and N4.62 per share respectively.

On the other hand, Ikeja Hotel led the losers’ chart by 10 per cent loss to close at N2.16, per share.

NCR followed with a 9.88 per cent decrease to close N2 .76, while Tantalizer dropped by eight per cent to close 23k, per share.

Julius Barger followed with a decline of 7.94 per cent to close at N29, while International Energy Insurance was down by 6.98 per cent to close N1.20 per share.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 106.07 per cent.

A total of 1.08 billion shares valued at N15.80 billion were exchanged in 9,916 deals.

05/30/2023
Subsidy: Kyari meets Tinubu, says fuel queues won’t last

The Nigerian National Petroleum Company Limited (NNPC Ltd) has assured Nigerians that fuel queues in filling stations, following the affirmation of the removal of subsidy, will soon vanished.

Malam Mele Kyari, the Group Chief Executive Officer (GCEO), briefed State House correspondents after meeting President Bola Tinubu on Tuesday at the Presidential Villa, Abuja.

Tinubu, had in his inaugural speech on Monday, commended the past administration for phasing out the petrol subsidy regime, which had increasingly favoured the rich more than the poor.

Kyari said that the Petroleum Industry Act (PIA) stipulated that the price of petroleum should be determined by market forces.

“I know all us must have seen the fuel queues in filling stations across the country.

“It is very understandable that whenever announcements to changes to prices of petroleum happen, both buyers and marketers will like assurance of what exactly this means and typically, consumers will rush to the filling stations to fill their tanks and that is why you are seeing these queues.

“And also for marketers, they will like to see exactly what this means in terms of how are we going to sell the products if subsidy on PMS is removed?

“And the combination of the two is what you are seeing -the obvious dislocation on distribution and we believe that this will go away very quickly.

“And as you may be aware, PIB which was accented in 2021 and became an Act, made it clear that the price of petroleum must be priced at the market,” Kyari stated.

He said, however, that the government also decided to provide for subsidy in the 2022 Appropriation Act and also for half year in 2023.

According to him, while the PIA is clear that petroleum should be priced, but it did not say that government cannot put its money in any way it wants.

“Therefore, we, as a commercial company established by the PIA, we are doing it strictly as business; delivering value as supply of last resort by virtue of the law but at a cost to the federation.

“And that cost includes the cost of subsidy; this subsidy cost should have been money that will be given to the NNPC, may be on monthly or daily basis.

“However, since the provision of the N6 trillion in 2022 and N3.7 trillion in 2023, we have not received no payment whatsoever from the federation; that means they are unable to pay and we continue and continue to support the subsidy from the cash flow of the NNPC.”

He also explained further:“That is when we net off our physical obligations of taxes and royalties, there is still a balance we are funding from our cash flow and that has become very difficult, and it affects our other operations.

“We are not able to keep some of this cash to invest in our core businesses and the end result is that it can be a huge challenge for the company.

“And we have highlighted this severally to government; that they must compensate NNPC; they must pay NNPC for the money we have spent on subsidy.’’

The NNPC Ltd boss said that by virtue of the law and the Appropriation Act 2023, funding was no longer available while the country could no longer fund the subsidy and no longer able to pay NNPC.

“Therefore, we are pleased to note the president’s commitment to the removal of subsidy because they cannot afford it anymore.

05/30/2023
Fuel scarcity: Price hits N520 in Edo, Delta

Fuel pump price is now between N400 and N500 in Edo and Delta, in a few filling stations opened for business as long queues resurfaced on Tuesday.

The sudden hike in fuel pump price and long queues is because of President Bola Tinubu’s pronouncement that he is removing fuel subsidy.

In Edo and Delta on Tuesday, most filling stations within Benin metropolis and Asaba Township, refused to open for business while the few filling stations dispensing fuel, are selling at prices ranging between N450 and N520 per litre.

In Benin, it is reported that few filling stations which included NNPC mega station on the Sapele, Buvel, and ‘Madam 200’, were dispensing the petroleum product for prices ranging between N190 and N200, but with long queues.

The other few independent marketers, seen attending to customers, were selling for between N450 and N500, but also experienced long queues.

A motorist, Mrs Evelyn Boswell, told newsmen that she had been to about four filling stations without success.

“I am worried because I need to pick up my children from school. If I can just get five litres, that will be enough to bring them from school.

“If the situation remains like this, they will have to stay at home until the product is available,” Boswell said.

Mr Johnson Ikpe, a motorist, said “nobody cares about the poor people in Nigeria. The scarcity has left us stranded. I can’t even get to my workplace. I am stranded.”

According to him, these filling stations have this product but they are hoarding it. Some of them who sold for between N200 and N210 on Monday morning, later sold for between N400 in the evening after the president’s speech.

Commercial bus drivers have also increased transport fares by 100 per cent depending on the routes.

In Asaba, Delta, motorists have appealed to the Federal Government to intervene and quickly resolve this emerging artificial fuel scarcity across the states of the federation.

Mr Andy Obi, however, described the removal of fuel subsidy as a good development, but noted the timing for the implementation was not good.

”We have not even recovered from the economic hardship occasioned by the impact of the introduction of the new naira notes and now removal of fuel subsidy is being implemented.

”I will appeal to the federal government to intervene in the pain of struggling to get fuel, not just getting but buying it at a very high rate,” he said.

On his part, Mrs Cynthia Eze, said, “I left my home since morning and I have visited about six different filling stations without any success of getting fuel to buy.

”I’m appealing to government for intervention because, it will be disastrous for the masses.”

While most filling stations have refused to open for business, the few filling stations selling fuel, are dispensing at prices ranging from N350 and N500 respectively.

Some of the filling stations currently selling include Total, Rain Oil, Dwell Pet, Marc Merg, Matrix, Mobile, North West.

05/30/2023