Hello Nigeria, this is Breaking Radio.
From the headlines and news of major local and international news sources, Breaking presents the Breaking Radio from Lagos; Nigeria’s mega city.
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You can head over to breaking.com.ng on your mobile phone for direct links to news on one page. It is 29th July 2016. and I bring you the headlines of the day.
Nigeria July Inflation Accelerates to Highest in Almost 11 years
Nigerian inflation accelerated for the ninth consecutive month in July, adding to pressure on the central bank to continue raising interest rates even as the economy deteriorates. The inflation rate in West Africa’s largest economy increased to 17.1 percent from 16.5 percent in June, the Abuja-based National Bureau of Statistics said in an e-mailed statement on Wednesday. That’s the highest rate since October 2005, according to data on the Central Bank of Nigeria’s website. The median of 16 economist estimates compiled by Bloomberg was 17.3 percent. Prices rose 1.3 percent in the month.
The central bank maintained restrictions that block importers of selected items from steel products to rice from accessing the foreign currency inter-bank market even after removing a naira peg on June 20. Fuel shortages also pushed up consumer prices, adding to inflation pressure caused by the more than one-third loss in the value of the naira since it was allowed to float.
“Inflation will continue to accelerate, reaching about 20 percent later this year,” John Ashbourne, a London-based economist at Capital Economic Ltd., said before the data was released. “One of the big factors right now is the devaluation of the naira.”
Nigeria slump deepens as economy shrinks 2.1% in second quarter
Nigeria slides into recession as economy contracts by 2.06 pct in Q2
Economy: FG Says Remaining Part of 2016 will be Better
Nigeria’s foreign reserves fall to $25.45 billion
Nigeria’s main car plant idled as dollar crisis bites
Aero Contractors suspends workers indefinitely
Nigeria’s annual inflation rises to 17.1 percent in July
Funds for Ogoni clean-up are intact – Amina Mohammed
Nigerian Slump Deepens as Economy Shrinks 2.1% in Second Quarter
And the stock market is having a hard time as Bloomberg reports that
The Nigerian Stock Exchange has seen a reduction in activity by almost half this year even after the central bank allowed the domestic currency to float.
When the Central Bank of Nigeria removed the 197-199 naira to dollar peg on June 20 after more than a year, “we saw significant activity in the market and then it tapered off,” Oscar Onyema, chief executive officer of the bourse, said in an interview from the commercial capital, Lagos, on Wednesday. Foreign investors “want to see that there is credibility in this floating rate regime. They also want to see clarity in the allocation of foreign exchange.”
Transactions for the first half of the year decreased by 44 percent to 624 .4 billion naira ($2 billion) from a year earlier, according to data from NSE’s website. “We have seen total reduction in market activity, both domestic and foreign, the foreign even more,” Onyema said.
Innoson Vehicle Manufacturing shuts Down Production
Innoson Vehicle Manufacturing, Nigeria’s main domestic vehicle assembly company has shut down production due to forex related issues.
Investigation reveals that Innoson Vehicle Manufacturing (IVM) cannot buy imported automotive components, a situation that has left its Vehicles without engines – an apt metaphor for the problems bedeviling Nigeria since the advent of the Muhammadu Buhari led administration.
This revelation came as GDP figures on Wednesday confirmed that Nigeria’s economy slid into its first recession in 25 years in the second quarter, shrinking by 2.06 percent after a 0.36 percent contraction in the first three months of the year.
“Production had stopped as we are waiting for the imported items for which there is a forex issue,” chairman Innocent Chukwuma said at the firm’s plant at Nnewi, in southern Nigeria.
Launched in 2010, IVM last year raised its annual production target for 2016 from 4,000 to 6,000 vehicles due to a “Made in Nigeria” campaign that generated strong sales to the police, state agencies and churches.
Those ambitions are now looking shaky if promises of government assistance fail to materialize, Chukwuma said.
“I believe they are doing something but if they can’t do anything we’ll lay off some workers,” Chukwuma said. From The Street Journal
Fulani herdsmen reject Fayose’s anti-grazing law
Foreign Reserves tumble as Buhari leads Nigeria to Recession
Enugu Herdsmen Attack: CLO accuses Buhari of sponsoring killings
Halliburton: Returned $32.5m Missing From FG Coffers
Nigeria In Economic Recession, Says FG
Fayose, ASCSN Knock Buhari, Say Nigerians Are Getting Poorer
Alleged Missing $4.6m: Police Arrest Sylva’s Ex-speech Writer
No Room For Caretaker In Pdp Constitution – Sheriff
Pdp Tasks Buhari On Economic Crisis As President Visits Osun
Nigeria waiting for Ndigbo – Okorocha
Prince Akenzua to Oshiomhole: You have no right to impose a governor on us
Makarfi-led PDP Condemns Suit against Justices Abang, Auta
NLC alleges fresh plot by government to thwart new minimum wage
Return My Late Son for Burial, Father Tells Stella Oduah
Space Agency Advises Nigerians Not to Panic over Today’s Eclipse
Delta Community Cries Out over Heavy Military Presence
APC harvests more PDP key members
Police: Eight Dead Victims of Zamfara Blasphemy Killings are ‘Suspects’
Restructuring: Let’s go our ways in peace –Rufai Hanga
Do not think of Deploying Troops to the Niger Delta – Colonel Warns
Herdsmen reject Fayose’s anti-grazing law
Economic recession: PDP calls for Buhari’s resignation
Nigerian govt renames Solid Minerals Ministry, approves new mining roadmap
Nigeria will boil if Zakzaky dies in DSS custody – Shi’ites
Ondo: APC releases delegate list to governorship aspirants
Kano: Ganduje, Kwankwaso And Unending Feud
Wike suspends 4 commissioners, others
Crocodile smile: Troops conduct more raids, arrest 5 suspected militants
Brazil President Dilma Rousseff Removed As President
“Mama Boko Haram” Reveals Whereabouts of Chibok Girls
Guard arrested for fingering, sucking employer’s daughter’s breasts in Lagos
Father Tells Stella Oduah to Return Late Son’s Body for Proper Burial
Boko Haram ready for peace, will announce Chibok girls’ whereabouts in 24 hours – Aisha Wakil
US begin talks with CAN over criticisms trailing Kerry’s visit
Nigerians Regret Voting for Buhari and APC – Former President of NANS
Mikel, Nacho, Musa and Others in High Spirits as they Train with Coach Gernot Rohr
Edo Monarch places Curse on Subjects Over Gifts from Godwin Obaseki
Edo guber: Monarch places curse on subjects who vote against Obaseki
Kuje riot: NPS plans forensic test on recovered handsets
Nigerian Paralympians leave for Rio today
Brazil sacks President for budget padding
Panic as contractor dumps expired malt in Ogun community
Sheriff vows not to recognize Markafi, says “no Caretaker Committee in PDP constitution”
APC must win Ondo governorship election – Tinubu
Economic recession: You are incompetent, resign now – PDP dares Buhari
Dogara fighting me over my refusal to support his emergence as Speaker – Bauchi Governor
Budget padding: Jibrin drags Dogara, others before Buhari’s committee on corruption CBN reinstates 9 banks suspended from forex market
4.58 million Nigerians became unemployed under Buhari – NBS
Presidency reacts to NBS report, insists economy performing better than IMF’s prediction
Police arrests pastor for camping, having sex with 30 underage girls
Stella Oduah yet to inform me of my son’s death – Estranged husband
Police arrest five over attack on Benue monarch
No DPO was shot dead in Rivers – Police dismisses rumour
Guard arrested for fingering, sucking employer’s daughter’s breasts in Lagos
Relax abortion laws for Boko Haram victims – UN urges FG
I was charmed – 13-year-old girl impregnated by grandfather in Lagos
The Academic Staff Union of Nigerian Universities (ASUU) wednesday served the federal government with a strike notice over the failure to fully implement the 2009 agreement signed by the government or “risks another full blown nationwide strike.”
From The Punch,
The Peoples Democratic Party in Osun State has urged President Muhammadu Buhari to urgently address the problem of hunger caused by economic crisis ravaging the country.
The chairman of a faction of the PDP in the state, Mr. Soji Adagunodo, who said this in a statement also tasked the President to address the problem of the growing insecurity in the country.
The PDP said more Nigerians were being forced to resort to stealing food and to engage in other shameful acts in order to survive, adding that a responsible leader must act fast before the situation would become unbearable.
Adagunodo said, “Nigerians are groaning under the economic hardship prevalent in the country, and as such the President must do something instead of running after shadows.
“Workers as well as pensioners are in pitiable conditions because their salaries are not paid as of when due and when the government manages to pay, they are paid half salary.
“All the mega schools (Governor Rauf) Aregbesola is flaunting were funded through the Universal Basic Education Scheme under former President Goodluck Jonathan, so he cannot take the glory for such projects.”
Meanwhile, the spokesperson for another faction of the PDP in the state, Mr. Diran Odeyemi, has called on Aregbesola to table before the President the series of woes facing the state rather than presenting himself as a fulfilled and a performing governor.
The faction also called on the governor to disclose the cost and source of the fund with which Osogbo Grammar School, expected to be inaugurated by Buhari was built.
The opposition party said the state had earmarked N480m for the President’s visit including the N140m allegedly spent on the ceremony of the 25th anniversary of the creation of the state held last Saturday.
“What other prove do we need to show that Osun State is in quagmire with a huge debt portfolio and the state spends N2.5bn monthly on debt servicing,” he added.
And Fulani herdsmen reject Fayose’s anti-grazing law
Fulani herdsmen from Ilorin, the Kwara State capital, but resident in Ekiti State under the aegis of Jamu Nate Fulbe Association of Nigeria have criticised the new grazing law signed by Governor Ayodele Fayose. According to the Speaker, Ekiti State House of Assembly, Kola Oluwawole, any herdsman caught with firearms and any weapons whatsoever during grazing shall be charged with terrorism.
But the legal adviser to the herdsmen, Mr. Umar Imam, on Wednesday argued that herdsmen who carried light weapons such as cutlasses, knives, catapult and arrows within the time stipulated by the new law should not be charged with terrorism.
He added that this contradicted the Terrorism (Prevention) Act, 2011.
Imam said, “The law of the federation on terrorism is very clear and no one can be charged for terrorism for carrying lesser arms like cutlasses, catapults and knives during the grazing period as contained in the Ekiti new law.
“I have made it in my submission during the public hearing on the bill in the Ekiti State House of Assembly that these Fulani herdsmen used to use these lesser weapons for certain purposes that can make grazing easier.
“I also told them that movement at night while relocating from one place to another was to ensure that they don’t wreak havoc on the people during the day while relocating to other towns. I expected the state government to have taken care of these in the new law rather than total banning.
“What the state government ought to have done is to allow whoever wants to relocate at night to take permit from a certain government’s authority or inform their Seriki (their leader), but banning them from moving at night may not help the situation, it will make their job difficult,” Imam said.
Mahmoud, who agreed with the time for grazing, however, criticised the outright banning of night movement, saying it would make their jobs difficult and create more confusion.
“We agree with the governor on the grazing period of between 7am and 6pm, but we should be allowed to carry lesser arms and relocate at night.
“How can somebody who wants to carry his cattle numbering hundreds from Ekiti to places like Lokoja, Ibadan or Ilorin moves during the day? These places are densely populated and it will create traffic congestion and confusion everywhere. The government must look into all these,” he added.
From the North, The Breaking Times reports that The Executive Secretary, Kano State Emergency and Rehabilitation Agency (SERA), Alhaji Aliyu Bashir Nukkel, confirmed that property worth over N1.9 Billion had been lost to flooding in Kano this year.
Data from the National Emergency Management Agency (NEMA) also showed that 18 persons have lost their lives to flood in Kano in recent times, while 22 local government areas have been affected in the state.
Here comes the eclipse
The National Space Research and Development Agency (NASRDA) wednesday advised that Nigerians should not panic over the annular eclipse due to occur in different parts of the country.
In a statement signed by the agency’s Head of Media and Corporate Communication, Mr. Felix Ale, in Abuja, said the eclipse would be experienced between the hours of 7:15a.m. and 10:03a.m. with slight variations in actual timing across the country.
He said: “The agency has arranged a viewing centre at the Obasanjo Space centre, along airport road, Abuja, to enable members of the public, pupils and students from various schools to view the eclipse.
Ale, said the agency would provide specially designed viewing instruments for Nigerians who wish to watch the eclipse between those hours
According to him, eclipse is an astronomical event, and an occurrence of nature for man to behold but cannot be viewed with the naked eyes as this can cause permanent damage to the human eyes.
And your SIM registration data is going to the another government agency.
The Daily Post reports that
The Nigerian Communications Commission (NCC) has agreed to release the commission’s data from the ongoing Subscriber Identification Mode (SIM) cards registration exercise to the National Identity Management Commission (NIMC).
Prof. Umar Danbatta, the Executive Vice Chairman of NCC, stated this when he received the Director-General of NIMC, Mr Aliyu Aziz, who paid him a courtesy visit in his office.
He said that the release of the data to NIMC was to give a boost to efforts of the Federal Government toward harmonising biometric data capturing by different agencies in the country.
Danbatta said the decision to release the data was in line with government directive to transfer validated data to sister agencies.
Economic recession worse than expected – National Bureau of Statistics
Nigeria’s economy came under renewed tension, yesterday, as fresh reports on key fundamentals, including Gross Domestic Product, GDP; inflation, employment-unemployment, capital importation, among others, were worse than expected. National Bureau of Statistics, NBS, said, yesterday, that Nigeria’s GDP at constant basic prices, contracted in the second quarter 2016 (Q2’16) by 2.06 per cent after shrinking 0.36 in Q1’16. It said the non-oil sector declined due to a weaker currency, while lower prices dragged the oil sector down. A slump in crude prices, Nigeria’s mainstay, has depressed public finances and the value of the Naira, causing foreign exchange shortages. Crude sales account for about 70 per cent of government revenues. But the Presidency has allayed the fears of Nigerians that the sharp drop in GDP, which had plunged the country into economic recession would not persist. The Vanguard
The inflation in Nigeria has taken its toll on practically everything. Daily Post reports that the price of cement has risen nationwide. A bag which hitherto sold for about N1, 600, now sells for N2,200 and above.
2nd Vice President, Nigeria Institute of Building (NIOB), Mr. Kunle Awobodu attributed the increase to the cost of production and the devaluation of the naira.
The insecurity in Nigeria persists and the CLO accuses Buhari of sponsoring Fulani Killings
Piqued by the slaughter of 17 hapless natives of Enugu State in the past four months by rampaging Fulani herdsmen, the Civil Liberties Organization, CLO, yesterday, alleged that President Muhammad Buhari’s inaction on the killings suggests that he is behind the dastardly acts.
CLO said had a similar orgy befallen another country in Africa, Europe and other parts of the world, Buhari would have been the first to condemn the killings while he turns a blind eye on the endless killings of his fellow country men and women. Continuing, CLO, also vowed to follow, inch-by-inch, the arrest last Monday, of one herdsman, Ibrahim Adamumale, 20, nabbed in Affa, Udi Local Government Area of Enugu State for allegedly being in possession of a sophisticated gun, an AK-47 rifle with 24 rounds of live ammunition.
CLO’s anger was against the backdrop of the arrest by operatives of the Inspector-General of Police, IGP’s Intelligence Response Team, IRT, on the alleged masterminds of April 25 Nimbo massacre of 13 natives, based on credible technical intelligence. The suspects arrested in the Nimbo attack were: Mohammed Zurai, Ciroma Musa, Sale Adamu, Suleiman Laute, and Haruna Laute. They lamented that the country has never been polarized along ethnic lines as it is now. Member, CLO Board of Governors, Alhaji Danjuma Gambo said: ”We are wondering whether the president, who ran for office, four consecutive times never had an agenda for Nigeria. With a little above one year in office, the country is now in a terrible mess where people can no longer sit down peacefully in their own ancestral homes. “The development that a herdsman was arrested by Police last Monday is not the first. Exactly four months ago, the same Fulani herdsmen attacked Nimbo, killing about 13 persons. This is apart from burning of houses, raping of women and children and destruction of farmlands. The five suspects arrested in the Nimbo massacre made confessional statements to the killings in Nimbo. Will the investigation take eternity when the same police said the suspects have made confessional statements? The Inspector General of Police should account for the five suspects and tell us where they are four months after the investigation. “Police in Enugu must tell us how the suspect got the sophisticated AK-47 rifle and also prosecute him to bring closure to these cases. Justice should be seen to be done. Buhari has never condemned herdsmen activities and his body language suggests that he sponsors their activities.”
These are just some of the news and reports over the last twenty four hours.
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