Sad News: Fuel Tanker Explodes at berger

berger explosion.jpg

A tanker laden with petrol has exploded on Otedola bridge axis of Berger along Lagos-Ibadan expressway.

The Lagos State Traffic Management Agency (LASTMA) says over 20 vehicles are affected in the inferno.

In a tweet on its official Twitter page, the agency said the tanker suffered brake failure.

“A tanker which had brake failure loaded with PMS caught fire on the Otedola Bridge INW Berger. The number of vehicles affected is 20+, the traffic situation is at standstill, all alternative routes advised at the moment,” it said.

Please pray for Nigeria.

Easy Workouts to Lose Weight Fast


You don’t have to kill yourself at the gym every day to slim down. There are easy exercises to lose weight that you can do at home or on the go.  In fact, sometimes easy workouts work better.

So before you try CrossFit, join a hardcore boot camp class, or sign up for heavy duty HIIT program, find out how fast weight loss exercises can speed up weight loss and then incorporate one of these workout routines into your schedule.

Easy Exercises to Lose Weight Fast

To lose weight, you need to create a specific calorie deficit. For example, you might want to reach a 500-calorie deficit each day to lose one pound per week. Or you might set a goal to reach a 1000-calorie daily deficit to lose 2 pounds per week. Either way, you need to control the number of calories you eat and burn more calories with movement to reach your target.

Many dieters start an intense workout plan to slim down. But, sometimes it’s better to do easy exercises to lose weight fast. There are four ways that easy exercise can help you to slim down:

  • Improve daily non-exercise movement.Easy workouts are designed to increase your heart rate to burn calories, but they shouldn’t wear you down. So you don’t feel the need to take a nap or lay on the couch all day after doing a workout. This helps you to stay active throughout the day and boost the number of calories you burn from NEAT.
  • Exercise every day. When you do easy workouts, you can exercise every day. Hard exercise, on the other hand, requires a recovery day following the session. When you work out daily (instead of 2-3 days per week) you may be able to burn more calories from exercise.
  • Maintain a consistent exercise program.Even though intense exercise is effective for weight loss, hard workouts put your body at a higher risk for injury and burnout. And you’re not likely to burn enough calories for weight loss while you’re recovering on the couch. Easy workouts are usually safer for your body and may allow you to be more consistent, week to week and month to month.
  • Keep hunger levels steady. Hard workouts often increase hunger levels. And sometimes they even increase your sense of entitlement to food. For example, you might feel that you deservea high-calorie meal or treat after hard exercise because you earned it with your effort. But easy workouts are less likely to leave you starving. The result is that you may eat less with an easy fitness program.

If you are healthy enough for vigorous activity, hard workouts are good for your body. High-intensity exercise helps to build muscle and burn fat. But easy workouts can speed up weight loss, too.

2 Easy Workouts to Lose Weight Fast

There are two easy workout routines listed below. Choose a fitness plan based on your current level of fitness and health.

1. Easy Exercise Routine for Beginners

This plan works well for people who don’t exercise at all. The easy exercises will jolt your metabolism out of lazy mode and get it moving again. But to make this plan work, you need to keep your workouts short and manageable. That way, you never have an excuse to skip a session.

For this plan, you’ll exercise 1-3 times each day, but each workout won’t last long. You don’t need to change clothes, you probably won’t get too sweaty and you don’t need any extra equipment.

The workout looks like this:

  • 7 minutes fast walk
  • 7 minutes of easy lunges and easy push ups
  • 7 minutes fast walk

You can do this workout at a local park, at your office, or in your home. Set reminders on your smartphone to remind yourself to complete your sessions. Or better yet, recruit a friend to hold you accountable.

Need more of a challenge? Swap brisk stair climbing for walking. If you are at work, climb the office stairs, do lunges on the landing and push-ups against the wall.

Why this easy fitness plan works: The duration of the workout makes it easier to tolerate and more likely that you’ll stick to the plan.

And even though the workouts are short, you are still burning substantial calories in a short period of time. Done properly three times per day, you can burn up to 300 – 500 calories. If you do this easy workout around mealtime, you’ll probably also shorten the amount of time you spend eating which will help you to decrease the amount of food you want to consume.

2. Easy Exercise Routine for Regular Exercisers

This plan works for people who already exercise. The purpose of this plan is to bump your body out of its regular routine for faster weight loss. You’ll do this by adding more activity to your day, but you’ll keep the extra sessions easy so that your body and brain don’t get burned out.

Your easy workout will consist of adding 30-45 minutes of easy enjoyable activity at the opposite end of your day as your normal workout. If you work out in the morning, add a brisk evening walk to your schedule. Do you exercise in the evenings? Consider biking or walking to work in the morning.

Why this easy fitness plan works: It’s common for people who exercise regularly to do the same routine week after week. If you do the same exercises at the same intensity all the time you’ll get the same results. Your body hits a plateau. This plan increases your activity level without added stress or strain to your joints. So you burn more calories without taxing your body.

Boost Your Easy Exercise Routine for Faster Weight Loss

Your new easy exercise routine will help you burn more calories. But you can lose weight faster by adding these challenges:

  • Skip dessert for a week. Grab a small serving of berries instead
  • Skip the drinks that cause weight gainband drink water instead.  Not a fan of water? Learn to make flavored water to curb your cravings.
  • Dump starch. Instead of eating empty calorie white foods like bread, white rice or pasta, fill up on a variety of lean protein and good carbs.

Turn Fast Weight Loss into Long-Term Success

If you stick to your easy workout routine, you should see some change in the scale or in the way your clothes fit after a week or two. Then ask yourself this question: was it worth it?

If the answer is yes, then keep your easy fitness plan going. You may even want to make it more challenging by adding moderate exercise and high intensity sessions. Then start tracking your diet to make sure you eat the right amount of protein to lose weight and maintain muscle.

If the answer is no, don’t worry. Even an easy exercise plan requires a big commitment. You may not have been ready for the investment. But don’t give up entirely. Choose a few parts of the plan that seem manageable and try to incorporate them into your schedule. Your weight loss will happen more slowly, but at least it will happen.

Cossy Ojiakor reveals that her married neighbor who beat her and his wife did it for his “pretty Hausa house girl”


Busty Nollywood Actress, Cossy Ojiakor  who has been in the news lately after she was allegedly battered by her neighbor has revealed why the incident happened.

Cossy who got the beating of her life after she tried to stop her neighbor from beating his wife and daughter has just revealed that he did so because of his house help who he has a fondness for.

Cossy said the man is so into the house help that no one dares do anything to her, else they will receive severe beating. She also said this has emboldened the help and she has become rude and selects which errands she wants to go on.

So far, Martin Obinka Maruche is yet to be arrested for battery after he left Cossy with wounds on her breasts, back, thighs, and had her bleeding from a broken fingernail.

Cossy wrote: “Do you know why Martin Obinka Maruche @martinsmaruche1kobokolized wife, daughter and me with his Original Italian Belt. Well… It is all because of a pretty Hausa house girl that has well rounded boobs. She is a sweet sixteen..of about 18/22yrs. Madam have tried to take Amira the house girl back to my neighbor Alhaji wife, who introduced the girl… It was war……. And Amira refused to go. Well no one shouts on Amira the house girl without getting kobokolized with original Italian belt, and she is so choosy with works assigned to her,….. Introducing Amira the powerful house girl……. Hmmmmm. Anyway It is almost a WK now and he has not been apprehended by the ilaso police station. Guess I may have to transfer this case. Anyway I saw him this morning. I was so afraid. I locked up my car and stay put. Am traumatized. I almost thought he will break my car and get to me…… Details shortly….”

Paul Okoye Tells Nigerians To Talk About Herdsmen Killings Even If Super Eagles Wins Argentina


Singer, Paul Okoye like every other Nigerian is also anticipating Today’s Match, but he’s not happy with what the country has turned into, Sharing a photo on his page minutes ago the father and Husband has advised Nigerians to Pour out their mind and cry out even if the super eagles win today.

Here is what he wrote below;

I know we can’t wait for the game ….. but pls Nigerians, let us use this opportunity to tell our leaders that they have failed us 😡 … they don’t value human beings anymore😡and pls don’t be distracted, if by the grace of God Nigeria wins …. pls congratulate the players and pour out your mind and speak out at the same time …. it’s about time we let the whole world know that, as we celebrate we are also mourning 😡 God help us all 🙏

Meanwhile, Nollywood actor, Yomi Fash-Lanso who went all out to campaign for President Buhari in 2015,has written an open letter to the President following the killings and bloodletting in different parts of the country.

Read his letter below;

I won’t bother you sir Mr President Muhammad Buhari – Chief Security Officer – of our SOVEREIGN NATION under GOD. NIGERIA. @muhammadubuhari
I would’ve loved to write you a letter but I know you won’t get it even if it’s through DHL, UPS, FEDEX etc cetera, thus my reason of putting it up here on my page, and tagging you because I know that via this medium you’ll get it, or your page handlers will pass the message to you.

I’m a born and bred in Nigeria man. Lagos state to be precise, and I’ve lived all my life in this beautiful country because I LOVE my country. Not because I can’t afford to CHECK OUT with my family. So you’ll understand my STAND.

I followed you from 1984 – 2015 because of your INTEGRITY, ANTI CORRUPTION CAMPAIGN, TENACIOUS STAND and your ONE NIGERIA advocacy you’ve always preached. Mr President I was one amongst millions of young Nigerians that put their LIFE, CAREER and FAMILY on the line to campaign for you when you showed interest in Nigeria politics because WE believe you can put Nigeria back on the RIGHT PATH, and we were so happy when you eventually won in 2015. Some even lost their precious lives celebrating your victory.

But! What went wrong SIR?

Sir, are you still in CONTROL of SECURITY and SAFETY of LIVES and PROPERTY in Nigeria?

Sir, are you now TRIBALISTIC as been alleged by some quarters in Nigeria?

Sir, are you carrying out a FULANI AGENDA as been alleged by some quarters in Nigeria?

Sir, are the lives lost – been BRUTALLY and MERCILESSLY SLAUGHTERED since 2015 not Nigerians?

Sir, are you so sure that some POLITICIANS are the ones BEHIND the mishaps befalling Nigeria?

Sir, are the Miyetti Allah people that own up to the plateau, benue and other state killings ABOVE THE LAW?

Sir, is life of a COW worth more than that of a HUMAN?

Sir, is it a norm that farmers crops and vegetations which are source of SURVIVAL for them be DESTROYED because COW REARERS need to GRAZE the LAND?

Sir, are you accepting the fact that COW REARERS are KILLERS in disguise?

I’ll stop here sir while I and millions of Nigerians that CAMPAIGED and VOTED for you wait for answers via ACTIONS.

Your humble citizen
Yomi FashLanso

Teenage Actress, Regina Daniels Dazzles In Super Eagles Jersey


17-year old teen actress, Regina Daniels who has a large followers on Instagram has rocked her Nigerian Jersey ahead of the Super Eagles World Cup match with Argentina in Russia today.

Regina Daniels took to her Instagram page to share some photos of herself squatting as she rocked the Super Eagles’ jersey to support the players playing a crucial match in a couple of hours.

The light-skinned student had her first name boldly written at the back of the over-sized jersey.

It is hoped that Nigeria makes it out of the group alongside Croatia.

See more photos:

Meanwhile, Juliet Ibrahim who is already in Russia for the much anticipated football match has sent her best wishes to the Super Eagles;

She wrote on her twitter page;

Best of luck today #supereagles #juju is in town to make sure that no one tries any BS! Las las is for me to jump on the field and shake my bum bum to distract them all… #worldcup #Nigeria #RussiaWorldCup2018

Khloe Kardashian finally speaks out on Tristan Thompson cheating scandal


She clapped back at fans calling her a hypocrite

We’ve been so caught up in the emotional turmoil of Love Island (catch up on the latest here) we’ve kind of forgotten about all the IRL drama going down in the celeb world of late.

Cast your minds back to April 2018, before that pesky love rat Adam Collard had snaked his way around the whole Love Island villa and public enemy number one was Khloe’s boyfriend Tristan Thompson.

You may remember, just days before Khloe was due to give birth to their first child, video footage emerged of Tristan seemingly kissing a mystery woman. It then transpired that Tristan had allegedly cheated on Khloe in New York.

Screen Shot 2018-06-26 at 11.37.46 AM

There has since been lots of speculation over whether Khloe would leave Tristan, with latest reports suggesting the couple are staying together and raising their daughter True in LA.

Now Khloe has addressed the situation for the first time, snapping back at a fan on Twitter who labelled her a hyprocrite.

© Twitter

Khloe had some strong words when a Twitter user going by the name Queen Persia said she was ‘disappointed’in Khloe. “I love, adore & root for @khloekardashian but I’m so disappointed she stayed with that wasteman Tristan. she preaches about women knowing their self worth and when to walk away but when it’s time to walk the walk, she’s a hypocrite.”

© Twitter

Khloe then replied: “Not exactly Queen Persia, you have no knowledge of what goes on in our household or the enormous rebuilding this takes to even coexist. I’m proud of my strength. I appreciate your opinion and I hope you hold that same opinion to everyone else who has stayed in situations.”

Apple and Samsung end patent fight after seven long years


Apple and Samsung have finally settled a seven-year-long patent dispute, bringing to an end the long-running battle over the design of their rival smartphones.

The terms were not disclosed.

But it comes weeks after a US jury ordered Samsung to pay Apple $539m(£403m) in damages for copying features of the original iPhone.

The fight started in 2011, when Apple sued its South Korean competitor, seeking more than $2bn in damages.

The suit was the first of many that saw the two companies square off in courts around the world.

In 2012, a US jury awarded California-based Apple $1.05bn in damages for the copied features, which included design elements like the screen that displays icons in a grid.

Samsung appealed part of that award, taking its case all the way to the Supreme Court, arguing that damages should be limited since patent infringement involved only certain features.

In 2016, in a unanimous decision, the Supreme Court agreed, handing a victory to Samsung.

But the justices did not rule on the patents themselves, leaving that decision to a lower court.

That battle went to trial in May, ending in defeat for Samsung, which had argued that it owed only $28m. Instead the jury set the award at $539m – about $140m more than the figure it had appealed.

How banks outsmart the market, making profits despite bad loans

CBN-Governor-Godwin-Emefiele.jpg                                                                           Emefiele, CBN governor

BUSINESS environment in Nigeria worsened in 2016 when the economy plunged into recession. So, for most of 2017, Nigeria struggled to exit the bad economic condition. “If the economy is doing very well, some of those businesses that are defaulting on their loan obligations will also be doing well. If the economy is not doing well, then those underlying businesses would also not be doing well, thereby finding it difficult to pay back their loans,” Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru said while giving a clear picture of the situation.

Incidentally, lenders needs to extend new loans for greater development and provision of faster stimulants for economic recovery, but most of them  got their fingers burnt as those who borrowed money from them could not pay back.

When a borrower stops paying back money borrowed, it is regarded by the lender as a Non-performing Loan (NPL). An NPL by definition is the sum of borrowed money of which a debtor has not been able to meet up in scheduled payments for at least 90 days, and is either in default or close to being in default. Once a loan is non-performing, the odds that it will be repaid in full are considered to be substantially lower, while the NPL ratio is the amount of NPLs over total loans, usually expressed as a percentage. Such loan in effect reduces current profits because the banks will account for expected losses known as impairment charges. These are basically money that is put aside by a bank in case its customers cannot make the required loan repayments, but which will leave a huge dent in a company’s profits.

Historically, bad loan kills banking business across the world, yet banks exist to give loans. For decades, the Nigerian banking industry has suffered so much under the yoke of NPLs.

Incidentally, they cannot stop lending because the business of banking is the business of taking money from those who have, and making it available at a cost, to those who don’t have, but need it for investment and other purposes.

However, when banks go out of this intermediation role to make money from other sources, it becomes a subject of argument whether the banks are being innovative or compromising professional ethics and standards.

The central bank is aware of this when it set a rule that says lenders with “NPL ratios above 10per cent shall not be allowed to pay dividend.”

Apparently, the apex banking regulator is aware that it is a misnomer to have huge hole dug by NPLs in the books of a bank while the same lender claims to be recording jumbo profits and giving out dividends to shareholders.  This reality was captured by the Acting Chairman of the Economic and Financial Crimes Commission ( EFCC) Ibrahim Magu during a session with the Association of Chief Compliance Officers of Banks in Nigeria, May 2018.

His words:“We must work together to save this country. Most of the banks are sitting on the water. In fact, some of these banks are almost collapsing.”

So, it is interesting to have a good number of banks with huge NPLs declaring impressive profits in 2017 and first quarter of 2018.

Some stakeholders see this as innovative, arguing that thinking outside the box in this case is when a lender discovers other possible ways of delivering value to shareholders in periods when traditional methods fail. Others argue that these banks are cutting corners, and violating credit management and professional banking rules. This view is supported by Kuru when he explained that at the point when some transactions that resulted in bad loans were entered into, some of the banks did financial engineering. “They raised the interest payable and instead of the obligor paying N4billion, it becomes N7billion.  So there are some loans that are unrecoverable.”

To this end, “There must be due diligence, even in this practice of private banking. There must be accountability; there must be transparency in our transactions. You don’t have to wait until anything goes awry before you begin to find a solution to it,” Magu on his part warns.


The Dollar-Yuan superiority war


China has never veiled its intention to have its currency, the Yuan, take the centre stage in shaping global economy because of its belief that this would enable it have a better control of its domestic economy as many of the countries and companies that trade with China usually go through a third currency, especially dollar. As far back as 2009, former Governor of China’s  central bank, Zhou Xiaochuan, while delivering a speech at the Council on Foreign Relations, said, “The desirable goal of reforming the international monetary system, therefore, is to create an international reserve currency that is disconnected from individual nations.” So, having the Yuan as a major player on the global scene is a strong state policy for the communist country.

The dream inched close to becoming a reality on November 30, 2015 when the International Monetary Fund (IMF) gave the Yuan the status of a reserve currency. A major success was also recorded on October 1, 2016 when the Bretton Wood institution included it in its Special Drawing Rights (SDR) basket, which determines currencies that countries can receive as part of IMF loans. The basket is also a collection of reserve currencies that serve as an alternative to the US dollar. The inclusion of Yuan marked the first time a new currency had been added to the basket since the Euro was launched in 1999. The basket already includes the Euro, Japanese yen, British pound, and U.S. dollar.

According to Bloomberg, one major benefit of being a reserve currency is that the Renminbi, another name for Yuan, would be used to price more international contracts. Most of the commodities exported by China are priced in the U.S. dollars which means that the wellness of the Chinese economy cannot be divorced from the value of its currency vis-à-vis the dollar. Another benefit is that the currency would be in higher demand as many central banks would have to hold it as part of their foreign exchange reserves. This would result in the lowering of interest rates for bonds denominated in the currency.

Speaking on the decision to include the Chinese currency in the SDR basket, Siddharth Tiwari, former IMF’s Director of Strategy, Policy, and Review Department, said “The Renminbi’s inclusion is an important milestone in the integration of the Chinese economy into the global financial system. The IMF’s determination that the Renminbi (RMB) is freely usable reflects China’s expanding role in global trade and the substantial increase in the international use and trading of the RMB. It also recognizes the progress made in reforms to China’s monetary, foreign exchange, and financial systems and acknowledges the advances made in liberalizing, integrating, and improving the infrastructure of its financial markets. We expect that the inclusion of the RMB in the SDR basket will further support the already increasing use and trading of the RMB internationally.”

Nigeria to drive youth entrepreneurship with technology

As BoI restates commitment to support SMEs
In a bid to achieve a knowledge-based economy in the near future, the federal government has unveiled plans to drive and support youth entrepreneurs in the country deploying the use of technology.

The Vice President, Yemi Osinbajo, stated that the federal government has concluded plans to build technological hubs in the six geopolitical zones, pointing out that it is the way to shape the future of the country.

The Vice President at the Student Innovation Challenge (SIC) South West regional demo day held at the University of Lagos, said “The best of technological companies started from the universities and this is why we have decided to build technology hubs in the six geopolitical zones starting at the University of Lagos.

“Everybody knows where the smart money is looking and we all know that the universities are the best place to get the very best talents because we believe it is what is needed to shape the future of the country.”

Meanwhile, the Bank of Industry (BoI) has reaffirmed its commitment to provide financial assistance and support for the establishment of large, medium, small and micro enterprises in the country.

According to Osinbajo, “We have partnered with the United Nations Development Programme (UNDP), the BOI, MTN and other agencies to organise the student challenge to find the best of students’ innovation, technology ideas, creative ideas from students across Nigeria. We want to gather many of the great ideas as much as possible for them to get a chance to be supported or tested commercially. It is absolutely the exciting time to be alive. The best days are here and the future is here.”
Earlier, the Managing Director, BOI, Olukayode Pitan, noted that the gathering was a reflection of the changing attitude in Nigeria towards innovation and galvanizing support for start-ups, pointing out that these are the choices Nigeria must make if economic development is to yield real dividends for the Nigerian masses and address the social and economic challenges.

“It is laudable that this platform allows the younger generation to showcase entrepreneurial insight, talent and innovation. The Bank of Industry (BOI) is Nigeria’s oldest, largest and most successful development financing institution. Our vision is to transform Nigeria’s industrial sector by providing financial and business support services to enterprises,” he said.

He noted that the technology sector is a budding industry that shows a significant amount of promise, harnessing the innovation and ingenuity of the nation’s vastly young population while also solving local and global problems at scale.

“I am elated that BOI is associated with the Student Innovation Challenge (SIC) because the initiative is a testament of the current paradigm shift being witnessed in Nigeria’s technology and business ecosystem. The challenge is particularly worthy of commendation because it is focused on students in tertiary institutions and creates access that allows the youth brainstorm on entrepreneurial and innovative ideas,” he added.

H explained the mandate of the bank, saying the DFI seeks to provide financial assistance and support for the establishment of large, medium, small and micro enterprise.

“The Students Innovation Challenge provides a medium in line with executing this mandate. I would like to encourage all participants who have been selected to pitch their ideas today to put their best foot forward.

“This platform creates access to actualize your ideas, do not misuse it. In every competitive contest, there would be one “victor” but many winners. To those of you whose ideas are not selected, do not be dismayed, go back and strategize. Do not give up or lose hope. You are already a winner for being here”, he added.

Vconnect introduces platform to support SMEs

A service marketplace company, Vconnect has introduced an online platform, aimed at connecting small and medium scale businesses with customers as part of efforts to promote effective marketing.The platform,, is an online mall of customers, where qualified service professionals can find and connect with real customers at any given time.

Specifically, with the use of Internet, businesses can now leverage the power of having an online presence by increasing sales, saving money on advert and getting more customers as compared to getting customers on an offline store.

Speaking at a business summit to launch the platform in Lagos, Chief Executive Officer, Vconnect, Deepankar Rustagi, said the company is poised to solve the issue of finding a reliable service provider in the industry.

Hence, it has created a way of ensuring trust between service professionals and customers on the platform with providing national identity documents and taking a pledge to provide quality services.

Rustagi noted that professionals find it hard to acquire new customers because there is a deficit of trust in our markets. “We are trying to bridge that gap bringing the right profile and qualified service professionals so people can hire them seamlessly with the help of Internet,” he said.

He revealed that there is a breakage insurance cover for customers who deal with fracture equipment, stating that what we have as target is that every individual seeking a service professional should get three quotations seamlessly within two hours on our platform.

According to him, the service is currently restricted to customers and businesses within Lagos with intent to expand by mid August to Abuja and Port Harcourt.

‘How to curb delisting of firms in stock market’

To reduce the persistent delisting of firms’ on the Nigerian Stock Exchange (NSE) to the barest minimum, investors have stressed the need for government to fast-track the acceleration of its industrialization plan.This will help to resuscitate the ailing manufacturing industries and other services sector.

Delisting is the process of removing a company from the official list of the stock market, either voluntarily or by compulsion.

The exchange, however, listed only five new companies- The Initiatives, in 2016 and Transcorp Hotels, Global Spectrum Energy Service, Jaiz Bank and Med-View Airline in 2017.

The investors, who spoke in an interview with The Guardian, argued that for Nigeria to become a strategic economic frontier in Sub-Saharan Africa and across the globe, it must have vibrant manufacturing sector that would help spur activities in the stock market.

According to them, if the manufacturing sector of any economy were not recording a significant improvement, the companies operating in the environment would find it difficult to grow and make profit.

This, according to him would continue to reflect on the company’s financials and share prices in the stock market.

Specifically, an independent investor, Tony Ibeh, said: “If the manufacturing sector of any economy were not recording a significant improvement, the share price will drop in the stock market and nobody would come to such market to raise capital because the market cannot support it.

“Regulators must seek to provoke more domestic demand in the economy so that the demand can drive supply for consumer companies to make profit and make it cheap for people to borrow and companies can employ more people, hire and train more workforces.” He added.

The former Secretary General of the Independence Shareholders Association, Adebayo Adeleke explained that one of the two biggest socio-economic challenges facing the nation is the issue of job creation.

He argued that Nigeria cannot create jobs without having a strong manufacturing base and industrialised economy.

He wondered why government would subsidize dollar for pilgrimage, while manufacturing sector that creates job and stimulate economic growth is neglected.

He added that if the processes and procedures involved in the implementation of the industrialisation plan is strengthened, it would spur economic growth, facilitate job creation and repositioning Nigeria at a competitive level in international trade.

Furthermore, Adeleke pointed out that manufactures are facing untold hardship due to harsh operating environment, noting that if government fails to revive the sector, more firms’ would be delisted from exchange .

“We need to get our priorities right in this country, it is true that we are highly religious, a situation where government is subsidizing the rate if dollar for people who wants to go on pilgrimage selling dollar to them at N197 per dollar and then giving about N316-N320 rate to manufacturers.

“These are people that who keep the engine of business running, employ other people and make them productive, get more products in to the system, make life more affordable for every body. Don’t you think we are getting things essentially wrong?

“Some of these companies cannot just cope, probably the volume of business they are doing is not that large and that is why some of them are delisting, even though some are voluntary, they are facing difficulties and challenges.”

MAN kicks against Nigeria’s ratification of African free trade agreement

Nigeria’s’ possibility of ratifying the free trade agreement –African Continental Free Trade Area (AfCFTA) – before the end of the 180 days deadline set by African Union (AU) member-countries, after the deal was signed on March 21, may suffer another setback as local manufacturers have dissociated themselves from the outcome of the consultations being presented for Federal Executive Council (FEC) approval.With Nigeria’s Chief Negotiator, Ambassador Chiedu Osakwe and technical drafting group set up by the Federal Government expected to submit the outcome of the consultations for presidential approval this week, the Manufacturers Association of Nigeria (MAN) said the issues raised by major stakeholders, including those expressed by manufacturers, still remained unattended to.

The manufacturers are, therefore, asking government to provide details of how concerns bordering on the tariff lines and product lines (categorised using HS codes) that have been agreed for liberalisation, as well as the exclusion and sensitive lists, implementation of market access without negotiating the rules of origin and other safeguard measures, would be addressed once the AfCFTA is ratified.

President Muhammadu Buhari had declared that his administration was not disposed to entering into any agreement that would make the country a dumping ground and jeopardise its security architecture following concerns expressed by MAN and other private sector players.

Specifically, MAN noted that the draft of the consultations, held with the private sector, remains shrouded in secrecy as no technical paper was presented for validation by the affected stakeholders before presentation to the Federal Executive Council (FEC) for approval and ratification of the trade agreement.

The presidential committee on AfCFTA had last week met to discuss findings from the consultations held with stakeholders across the country’s six geo-political zones, with a draft report expected to be presented this week.

MAN President, Dr. Frank Jacobs, who addressed journalists yesterday in Lagos, said the Nigerian Office of Trade Negotiations’ (NOTN) version of the outcome of the stakeholders’ engagements and sensitisation did not adequately reflect the overall proceedings and factual expressions at those meetings.

According to him, local producers are worried that rather than squarely addressing those critical issues, all efforts were geared towards extolling the laudable objectives of the AfCFTA.

Jacobs noted that Nigeria should lead the process of ensuring that concerns of the private sector are addressed.

However, the Director-General of MAN, Olusegun Ajayi-Kadir, said the people needed to know what is being signed by the government and trade.

‘I Enjoyed Every Bit Of The World Cup’ – Ighalo

Following the exit of Super Eagles from the ongoing FIFA World Cup in Russia, the Nigerian striker, Odion Ighalo, has taken to his social media to react on the last match against Argentina. He is thankful to God for no injuries and also thanks God for the situation (pictures attached). It can be recalled that Ighalo during the tournament is known to disable comments, and only enabled it for a while after Nigerians victory against Iceland. However, to the surprise of many, he enabled comments in this his recent posts. Perhaps waiting to hear Nigerians feelings.