TAN dares Dickson: you can’t ban us from Bayelsa

The Transformation Ambassadors of Nigeria (TAN) yesterday fired back at the Governor of Bayelsa State, Mr. Seriake Dickson, saying he lacked the powers to order its exit from the state.
TAN, the main campaign group of President Goodluck Jonathan, also condemned a statement issued by the Bayelsa Youth Vanguard (BYV) barring the first lady, Dame Patience Jonathan, from accompanying her husband to campaign in the state.

The group in statement signed in Yenagoa by its state Director, Publicity, Chief Nathan Egba, expressed shock and disbelief at the pack-and-go order emanating from the governor.
TAN also reassured the governor of its readiness to cooperate with his government in campaigning for President Jonathan’s reelection in the state.
“We are shocked because we find it hard to understand how an elected Governor of a State would make such a statement in a democratic setting, as we have in Nigeria, as there is nowhere in the Nigerian Constitution that gives any governor such powers.

“TAN in Bayelsa is however, aware of plots by some over-zealous Government officials to portray groups such as TAN, Women For Change Initiative and others in very bad light, in order to make it appear as if they are against the State Government.
“In the same vein, we re-assure our teeming members and supporters not to worry, but rather remain resolute and focused as the Presidential election is less than a month from now”, the statement said.

Frowning on the threat by a youth group barring Dame Patience from attending the forthcoming February 5th Presidential campaign in the state, TAN said such threat was unfortunate.
“TAN, while strongly condemning the threat by the group ,said the statement by the group is unwarranted. The TAN said it is the believe of the group that such probe will expose those behind the shame act, but will also serve to deter others who might want to toes the same line.

“We have noticed that since alleged cold war between the State Government and the First Lady, became a topic for public discourse, more individual and groups in the state have become emboldened to make statement that are clearly disrespectful to the office and person of the First Lady.

“The recent sack from the State Executive Council of associates of the first lady such as the former Commissioner for Local Government, Mrs. Marie Ebikake and the former Special Adviser to the Governor on Federal Projects, Chief Remi Kuku, who is also the Deputy National coordinator of the First Lady’s NGO, Women For Change Initiative did not help matters.

“In addition to the above, the TAN State Director of Logistics, Chief Abel Ebifemowei has been removed from his post as Chairman of the State Environmental Sanitation Authority, as well as a top Civil Servant Mrs. Irene Digitemie who has also been recommended for retirement for allegedly associating with the Women for Change Initiative group.

The Nation

Monthly Revenue Falls to N490bn Amidst Tumbling Oil Prices

The tumbling prices of oil continued to take its toll on the country’s monthly revenue collection as gross receipts for December further dropped to N490.03 billion compared to N500.07 billion the previous month.
Also, the sum of N15.63 billion was on Friday deducted from the excess crude account (ECA) to augment revenue shortfall for the month, leaving its balance at $2.45 billion from about $3.1 billion last month.
This came on the same day JP Morgan said it would assess Nigeria’s suitability to remain in a key emerging currency bond index because of a lack of liquidity in the African country’s forex and bond markets.
The reality of the ensuing fiscal crisis became even more glaring as unlike in the previous months, no provision was made for the subsidy re-investment programme (SURE-P) by FAAC yesterday. Previously, the sum of N35 billion had been distributed monthly to the three tiers of government.
The mineral revenue in the period under review declined to N381.58 billion compared to N383.14 billion while the non- mineral component also fell to N107.79 billion from N115.16 billion in November.
However, revenue from value added tax (VAT) increased by N12.82 billion to N73.46 billion compared to N60.63 billion in November.
Notwithstanding, a total distributable revenue amounting to N580.37 billion was shared yesterday among the three tiers of government for the month of December. This was lower than the N628.77 billion shared the previous month.
Addressing journalists in Abuja after the monthly meeting of the Federation Accounts Allocation Committee (FAAC), Minister of State for Finance, Alhaji Bashir Yuguda blamed the N10.04 billion drop in gross revenue in December on the drop in crude oil prices which slashed revenue from 87.8 million in October to $77.5 million in November.
According to him, that had resulted in $62.8 million loss in revenue as well as 52 per cent loss in production volume and 31 per cent price drop-all culminating in total revenue loss from the Liquefied Petroleum Gas (LPG) and Natural Gas Liquids (NGL).
The minister added that the persistence of Force Majeure declared by Shell since June, 2014 as well as shut down and shut in of trunks and pipelines at various terminals also had negative impact on overall revenue receipts in December.
He said revenue performance particular the non-oil receipts was further worsened by the fact that the timeline for payment of taxes by many companies was yet to fall due.
Explaining the zero allocation to SURE-P, Yuguda said: “We all know the prices of crude are falling and that’s why you see that zero allocation. We’ve been telling Nigerians to brace up; we’ve come up with measures, we’ve been telling Nigerians that from the month of November, we would start seeing the effect of the falling oil prices. And that’s what we are seeing now.”
Also speaking to journalists at the FAAC meeting, Chairman, Forum of Finance Commissioners, Mr. Timothy Odah said the current situation portends a clarion call for individuals and government to tighten their belt and for economic diversification.
He said: “I think it is good for Nigeria provided that with time it (oil price) will come up because this time around, we should make our budgets-from local governments up to the federal government-rating the country as a non oil nation. That will help us such that anything we have rather than being a shock, it will be a surprise. That’s what we have to learn. It is because we depended so much on oil.”
However, from the net statutory allocation distribution for the month, the Federal Government received the sum of N220.48 billion while the states shared N111.83 billion as well as N86.21 for the local governments.
The sum of N47.22 billion was shared among the oil and gas producing regions under the derivation principle.
For VAT, the federal government got N10.57 billion while the states shared N35.26 billion, leaving the local governments with N24.68 billion.
JP Morgan places Nigeria on negative watch in its bond index…
Meanwhile, JP Morgan said yesterday that it would assess Nigeria’s suitability to remain in a key emerging currency bond index because of a lack of liquidity in the African country’s forex and bond markets.
The bank, which runs the most commonly used emerging debt indexes, said it had placed Nigeria on a negative index watch and would assess its place on the Government Bond Index (GBI-EM) over the next three to five months.
Removal from the index would force funds tracking it to sell Nigerian bonds from their portfolios, potentially resulting in significant capital outflows. This in turn would raise borrowing costs for Africa’s largest economy, although analysts said they did not expect JP Morgan to take such a step.
The bank added Nigeria to the widely followed index in 2012, when liquidity was improving, making it only the second African country after South Africa to be included. It added Nigeria’s 2014, 2019, 2022 and 2024 bonds, which make up 1.8 percent of the GBI-EM Global Diversified index.
David Spegel, head of emerging debt at BNP Paribas, said: “I would be very surprised if Nigeria was ejected from the index entirely given the size of the economy and potential for future capital raising in the debt and equity markets there.
“Eventually the whole oil risk issue will be priced into the market and flows of capital and investment will return to Nigeria.”

Nigeria’s Economy Strong, Stable under Jonathan

The Nigeria Posterity Project (NPP) has stated that in spite of the challenges arising from the dwindling global oil prices, Nigeria’s economy remains strong and stable under President Goodluck Jonathan,
The NPP, a non-governmental and apolitical organisation, said their findings were based on empirical research into the Nigerian economy between 2010 and 2014.
In a press statement signed by its National Coordinator, Louis Ebodaghe, in Abuja on Saturday, the group which comprises intellectuals, economists and social activists, said Nigeria’s economy has turned out to be the best and biggest in Africa, beating South Africa to a second position.
It said: “without being political, statistics have shown that President Jonathan has developed the economy, raising the Gross Domestic Product (GDP) to seven per cent per annum in the past six years, the highest in sub-Saharan Africa so far.”
According to the group, “Nigeria’s economy is now ranked 26th in the world and these figures were obtained from the World Bank record. Foreign direct investments in the first six months of 2014 stood at $9.7 billion. The regime’s automotive policy has injected fresh ideas and vibrancy into Nigeria’s automotive sector.
“The industry which has been moribund for 20 years has bounced back to life with Nissan, Hyundai, Kia, Peugeot and Stallion Motors assembling their products locally in Nigeria, while the innovation of Innonson Motors is manufacturing quality vehicles locally. These have created jobs and boosted the Nigerian economy tremendously.”
The group also stated that “The President’s Agric Transformational Agenda (ATA) has revolutionised the sector leading to increase in food production and the reduction of food importation by 45 per cent as at the end of 2014.”

Thisday

Kwanwanso, Atiku have abandoned Buhari, says PDP

Former Vice President Atiku Abubakar and former Head of State, Maj. Gen. Muhammadu Buhari (retd.)
The Peoples Democratic Party says leaders of the All Progressives Congress have continued to betray their inner aversion towards the candidacy of Gen. Muhammadu Buhari (retd.) and have abandoned his campaigns for the February 14 presidential election.
The PDP’s National Publicity Secretary, Mr. Olisa Metuh, in a statement in Abuja on Saturday, said most leaders of the APC did not believe in the personality of Buhari, resulting in flip-flops and double standards that have been the fate of his presidential campaign.
Metuh said key APC leaders such as former Vice President, Atiku Abubakar; Kano State Governor, Rabiu Kwankwaso; and presidential aspirant, Sam Nda-Isaiah, have since abandoned Buhari.
But the APC Presidential Campaign Organisation dismissed as utterly false and ridiculous the claims by the ruling PDP.
A statement by the Director of Media and Publicity of the campaign, Garba Shehu, stated that there was no iota of truth in the claim that Atiku or other party stalwarts have distanced themselves from the campaign.
According to the statement, contrary to the deliberate falsehood being peddled by PDP, the former vice president is currently out of the country for medical examination, and that he would be actively involved in the campaign once he is back to the country from next week.
Shehu emphasised that Atiku’s commitment to the campaign in Adamawa State and the nation “is total” and that “no amount of PDP’s desperate tactics of deliberate falsehoods would break the unity of the APC leaders.”
The statement said the PDP allegation was a figment of their own imagination in order to weaken the cohesion within the opposition members, adding that the “ruling party is increasingly nervous as the February 14 elections approaches.”

Jonathan, others steal 400,000 barrels of oil daily —Tinubu

The National Leader of the All Progressives Congress, Senator Bola Tinubu, has accused President Goodluck Jonathan of being insincere that he knows nothing about the 400,000 barrels of crude oil which the former Lagos State governor said was being stolen from Nigeria daily.
Tinubu, who spoke at the flag-off of Governor Abiola Ajimobi’s campaign in Ibadan on Saturday, insisted that Jonathan was allegedly responsible for oil theft and that he should be removed by all Nigerians during presidential election.
Leaders of the APC present at the campaign included former Chairman of the party, Bisi Akande; former Governors of Ekiti State, Kayode Fayemi and Segun Oni; former Governor of Osun State, Olagunsoye Oyinlola; Governor Rauf Aregbesola of Osun State; APC Chairman in Oyo State, Akin Oke; and South-West party executives.
Tinubu described the Peoples Democratic Party as “Poverty Development Party,” while calling on market women, teachers and civil servants in Oyo State not to allow the party to return them to the dark days.
He said, “God will not take us back to the bad days again. We will not see PDP here again because God has chased them away. Segun Oni and Oyinlola have realised that PDP is not the right party. Leaders of the party have deceived us for too long but I did not allow them in Lagos.
“In the past, Oyo was a violent state but that has disappeared and we will not go back to the dark days. APC stands for the actualisation of better future for our children.
“Jonathan and his government are stealing 400,000 barrels of crude oil every day in Nigeria. He is telling us that he cannot see that amount of crude oil being stolen in the system, yet he calls himself the President. He is running a government of thieves and we will use our votes to send him away. He is taking away all our wealth.”
Tinubu also spoke about former Governor Rashidi Ladoja’s removal from office, the role he (Tinubu) played to restore him and how Ladoja refused to work with Ajimobi despite his (Tinubu’s) several appeals.
He said he was surprised that Ladoja had to form the Accord Party.
Aregesola, in his remarks, also accused the PDP of bringing suffering and corruption to the country, adding that the administration of the party since 1999 had sent Nigerians to slavery.
He said, “A litre of kerosene is now N120 but the landing cost is just N40.90k. They give to marketers at the rate of N95. That can only be done by a fraudulent government. They feed on fraudulent act perpetrated in the oil industry. PDP is a shameless party and they must go.”
The Presidency however described Tinubu’s allegation as “an idle campaign talk.”
Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, said this in an interview withSUNDAY PUNCH.
Abati warned members and the leadership of the opposition party to refrain from what he called “verbal violence.”
Abati said, “”Opposition members and leaders should be warned to refrain from verbal violence.
They should tell Nigerians what they can do for them if elected. Now that they have seen that their lies about government not fighting corruption is no longer convincing, they are resorting to verbal

Punch