Why Not Thank GOD

My mates are getting married.
My mates are getting good jobs.
My mates are succeeding.
My mates are living overseas.
My mates are buying cars.
My mates are building houses.
My mates are this......my mates are that......
It's a pity you literally forgot about your mates in the mortuary, your mates in the psychiatric homes, your mates are roaming on the streets, your mates are jobless, hungry, blind, deaf..........
You might not be where you wish to be but you have obviously
transcended from where you were yesterday. Be thankful.
Do you know: Only 50 days left and we say bye bye to 2013? Some slept yesterday and didn't wake up today? We're sinners but GOD showed mercy? GOD still has plans for you before the year ends? Some mates are there in jail without committing any crime? You ate last night but some didn't or couldn't? You have work and sources for daily living while some have nothing to look up to. You are not alive because you are faithful or because you have never sinned before, but it is the MERCY of GOD that kept you alive. INDEED GOD LOVE'S YOU. Why Can't you just appreciate GOD by saying 'THANK YOU GOD' Than complaining....

Anambra poll: Observer group predicts run-off, tight election

INEC Chairman, Prof. Attahiru Jega
| credits: File copy

A civil rights organization, Election Monitor, has predicted a run-off election in the Anambra state governorship election scheduled for next Saturday (November 16)

About four political parties, Peoples Democratic Party, All Peoples Congress, All Progressives Grand Alliance and Labour Party are to field candidates for the election.

According to EM, the election would be very tight because of the strengths of all the candidates in all the senatirial districts and local governments in the state.

The National coordinator of EM, Mr. Abiodun Ajilola, stated this on Monday in Abuja during the public presentation of its findings from the pre-election opinion polls for the 2013 Anambra State governorship election.

He said, “From the opinion polls we have carried out and from what we have seen on ground, there are four candidates in the Anambra state governorship election that are very formidable. Among these four candidates, each of them has very defined strengths. For one candidate to win at least 25 per cent in all the 14 LGs might not be easy because it is so tight.

“Looking at how things are going, there is a possibility of a run-off in the Anambra State governorship election because it is possible that not one candidate will be able to satisfy that condition, looking at the strengths of the candidates on ground.

“It may not happen this way because election is not all about calculation; there are other things which happen that determine election results. None of the four candidates is small, it’s not going to be easy for one person to hold sway, it’s going to be very competitive. That is why I say there may be a run-off.”

Anambra poll: Observer group predicts run-off, tight election

INEC Chairman, Prof. Attahiru Jega
| credits: File copy

A civil rights organization, Election Monitor, has predicted a run-off election in the Anambra state governorship election scheduled for next Saturday (November 16)

About four political parties, Peoples Democratic Party, All Peoples Congress, All Progressives Grand Alliance and Labour Party are to field candidates for the election.

According to EM, the election would be very tight because of the strengths of all the candidates in all the senatirial districts and local governments in the state.

The National coordinator of EM, Mr. Abiodun Ajilola, stated this on Monday in Abuja during the public presentation of its findings from the pre-election opinion polls for the 2013 Anambra State governorship election.

He said, “From the opinion polls we have carried out and from what we have seen on ground, there are four candidates in the Anambra state governorship election that are very formidable. Among these four candidates, each of them has very defined strengths. For one candidate to win at least 25 per cent in all the 14 LGs might not be easy because it is so tight.

“Looking at how things are going, there is a possibility of a run-off in the Anambra State governorship election because it is possible that not one candidate will be able to satisfy that condition, looking at the strengths of the candidates on ground.

“It may not happen this way because election is not all about calculation; there are other things which happen that determine election results. None of the four candidates is small, it’s not going to be easy for one person to hold sway, it’s going to be very competitive. That is why I say there may be a run-off.”

Nigeria’s debt rises to N8.32tn

Finance Minister, Okonjo-Iweala
| credits: File copy

The nation’s total debt now stands at N8.32tn ($53.42bn), the Debt Management Office has said.

The latest statistics released by the DMO on its website on Monday showed that as of September 30, 2013, the total debt comprised the external debts of the Federal Government and the state governments as well as the domestic debt component of the Federal Government.

This means that the data did not include the domestic debt component of the 36 states of the federation and the Federal Capital Territory Administration.

A breakdown of the debts showed that the external debts of both the Federal and state governments stood at N1.28tn ($8.26bn) as of September 30.

Much of the debts, however, were incurred by the Federal Government from domestic sources as these contributed N7.03tn ($4.15bn) to the total debt stock.

A further breakdown of the domestic component of the total debt stock showed that the Federal Government Bonds contributed N4.22tn or 59.93 per cent of the domestic debt.

The Nigerian Treasury Bills accounted for N2.48tn or 35.31 per cent of the domestic debt component. Treasury Bonds, on the other hand, accounted for N334.56bn or 4.76 per cent of the domestic debt of the Federal Government.

As of June 2011, the total debt of the country stood at $37bn. In terms of instruments, the FGN Bonds accounted for N4.03tn or 58.87 per cent of the Federal Government’s domestic debt stock then.

The Nigerian Treasury Bills accounted for N2.48tn or 36.25 per cent of the domestic debt component.

On the other hand, Treasury Bills accounted for N334.56bn or 4.88 per cent of the total domestic debt owed by the Federal Government.

The Director-General of the DMO, Dr. Abraham Nwankwo, had recently said that compared to the level of foreign debt, the Federal Government had over-borrowed from domestic sources.

While unfolding the nation’s Middle Term Debt Management Strategy, which was approved by the Executive Council of Nigeria, Nwankwo said there was an urgent need to rebalance the structure of the nation’s debt because the interest rate payable on domestic debt was too high.

He said the ratio of the Federal Government’s domestic debt stood at 88 per cent while that of the foreign debt stood at 12 per cent.

Nwankwo said the appropriate ratio should be 60 per cent for domestic debt and 40 per cent for foreign debt, adding that the newly approved Medium Term Debt Management Strategy would seek to achieve this ratio.

One of the ways of doing this is through the establishment of a sinking fund for retiring local debts that get matured. The second way is by borrowing more from foreign sources.

Nwankwo said, “The main objective of the Medium Term Debts is to develop a strategy that would meet the financing needs of the government at a minimum cost, maintain risk at a prudent level and support the development of the market.”

FG to declare two sites as national monuments in Borno

The Federal Government is to declare two sites in Borno as national monuments as part of Nigeria’s centenary celebrations in  2014.

The Coordinator of the National Museum in Borno, Hajiya Aisha Jidda, said this on Tuesday during a courtesy visit on Gov. Kashim Shettima in Maiduguri.

Jidda named the sites as the first Shuhe Tomb in Kukawa, Kukawa Local Government Area and the Shehu Mohammed El Kanemi Prayer House in Ngala, Gamboru Ngala Local Government Area of the state.

“It may interest you to note that since 1959 when the Rabeh’s forte  was declared National Monument in the state,  no other site has been declared.

“Two important sites will be declared as National Monuments to complement the 100 years of amalgamation of Nigeria in 2014,” she said.

Jidda said the enlistment of the sites would boost the tourism potentials of the state.

“Your administration has no doubt recorded tremendous achievements in all spheres of human endeavour.”

The National Museum would like to partner with you in exploring the tourism potentials of the state,” the coordinator said.

FG targets N32bn from private jet owners

Coordinating General Manager (Communications) for Aviation Parastatals, Mr. Yakubu Dati
| credits: http://citizensplatform.net

The Federal Government will rake in about N32bn annually as luxury tax from owners and operators of private jets in Nigeria.

This is if the attempts by the government through the Nigerian Civil Aviation Authority to impose luxury tax on private jet owners and operators sailed through.

The NCAA had in September directed the operators of private jets to pay the sum of $4,000 (N634,000) for every flight departure within the country.

A memo sent to all the private jet operators by the regulatory agency, a copy of which was obtained by our correspondent, indicated that Nigerian-registered private jets would pay the sum of $3,000 (N475,517) for every departure, while foreign registered private jets would pay $4,000 (N634,000) per departure.

Findings by our correspondent showed that there are about 139 private jets operating in the country; made up of 87 jets registered overseas and 52 jets registered in Nigeria.

Usually, private jets record between 350 and 400 flight hours every year.

This would mean that the 87 foreign registered jets would be expected to pay $4,000 each for 400 flight hours, translating to about $139m (N22.06bn), while the 52 locally registered flights would be expected to pay $3,000 each per 400 flight hours, amounting to $62.4m (N9.89bn). This brings the total amount payable to $201bn (N31.95bn).

The NCAA’s memo, dated August 28, 2013, with reference number: CAA/DG/OR/GA/VOL.11/2013/06 and signed by its Director-General, Captain Fola Akinkuotu, was entitled, ‘Order charging certain fees on operations in general aviation.’

It read, “In compliance with the provisions of Section 30 (2) (q) & (s) of the Civil Aviation Act of 2006, the authority hereby orders: All foreign registered aircraft engaging in non-scheduled operations to forthwith pay $4,000 as fees under the provisions of the law set out above for every departure, except round trips without changes in passenger manifest, or return ferry. Such fees shall be paid in advance and prior to departure.

“All Nigerian-registered aircraft engaging in non-scheduled operations shall forthwith pay $3,000 as fees under the provisions of the law set out above for every departure, except round trips without changes in passenger manifest, or return ferry. Such fees shall be paid in advance and prior to any departure.

“This order shall be effective and in force immediately upon the date of issuance. Failure to comply shall result in denial of operations and or privileges.”

The memo is, however, generating controversy in the aviation industry, with some operators arguing that the levies are illegal and threaten not to pay.

But the NCAA has filed a suit at the Federal High Court, Lagos, challenging the reluctance of foreign and locally-registered aircraft operators to pay the levies.

The agency deposed that the payment of the said fees was to take effect from the date of the issuance of the order.

The affected airlines and aircraft operators under the aegis of the Airline Operators of Nigeria described as draconian the policy, which they said amounted to double taxation and an illegality.

Recently, the government had expressed displeasure over the rising number of private jets carrying foreign registration, which accounted for over $10bn annual revenue loss through the payment of charges and taxes abroad.

The government said private jets being used for illegal charter services were ripping the country of huge revenue.

It said these operators also abstained from paying import duties, five per cent Value Added Tax and the five per cent charges to the NCAA.

The Coordinating General Manager (Communications) for Aviation Parastatals, Mr. Yakubu Dati, explained that the government was getting increasingly worried about such infractions by the private jet owners. This, he added, was curtailing “the growth of commercial charter operations, which are registered by the NCAA for specialised services.”

He said, “Out of 139 private jets operating in Nigeria, 87 are registered overseas while 52 are registered locally and when aircraft is registered overseas, it is assumed that it is visiting Nigeria as it is usually registered under a foreign operator and the implication of this is that it will not pay import duty when coming into Nigeria.”

Dati said it was time private jet owners desisted from such illegal operations to enable the government to harness the huge revenue potential from commercial charter jet operations.

He said the government would not hesitate to implement full sanctions against any errant private jet owner.

N3.2tn investments attracted in three years – FG

Minister of Finance, Dr. Ngozi Okonjo-Iweala
| credits: File copy

The Federal Government said on Monday in Abuja that in the last three years, over N3.2tn ($20bn) Foreign Direct Investment had been attracted into the Nigerian economy.

The figure was made public at a world press conference on the 24th World Economic Forum on Africa, which would he hosted next year in Nigeria.

The summit to be held in Abuja will be the first of its kind by the WEF in West Africa.

The N3.2tn investments represent 10 per cent of the entire African continent’s FDI. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, who gave this hint, said the forum with the theme, ‘Forging inclusive growth, creating jobs,’ would further help to stimulate investments in the economy.

She said the forum would offer an unprecedented opportunity for Nigeria to showcase its vast economic potential to the world and deepen dialogue on economic reforms between the international and Nigerian private sector.

The theme, she said, was chosen because it aligned with the medium and long-term aspirations and commitment of the Federal Government.

She said hosting the economic conference next year will not only ensure that Nigeria remained the largest recipient of FDI in Africa, but will also ensure that the investments it attracted were broad-based.

This, she added, would help to generate millions of jobs for the army of unemployed youths in the country.

The minister said, “The WEF is an organisation that has been in existence for more than 25 years.

“The objective is to bring top-class chief executive officers of big organisations in the world together with the government in order to forge a partnership that can lead to investments to the improvement of the private sector in given countries so that we can have improved job creation and an improvement in the standard of living.

“We are very honoured and it’s very clear the reason why Nigeria made the list of this conference and the reason is that they find it very fascinating all the developments that are happening in the Nigerian economy.”

She said international investors were interested in the transformation going on in various sectors of the Nigerian economy, adding that the reforms had created an avenue for more FDI.

“The power sector privatisation is one that hasn’t really been seen elsewhere and so, they are fascinated by the way it was openly and transparently done.

“They are also interested in what is happening in our agriculture and housing sectors, which would soon be launched and various other opportunities, such as the manufacturing sector, consumer goods industry and the creative industries,” she said.

Okonjo-Iweala said compared to other economies, the Nigerian economy had maintained a relative macro-economic stability.

“Inflation rate is coming down; we have strong reserves to underpin the economy, robust growth rate,” she stated.