by Odemuyiwa Olalekan

A comprehensive analysis of the economy of Nigeria will gives us a precise outlook of the persisting economic conditions of the country. Thus, the defective infrastructure facilities have hampered the constant growth of the country, yet efforts are made to revive those sick industries of the country through foreign collaborative and investment. The agriculture and oil has been on the top of the priority list of economic growth of the country, efforts are made to modify other industries.

The core inflation rate in Nigeria increased 12.20 percent in March of 2016 over the same month in the previous year. Core inflate rate in Nigeria averaged 9.42 percent from 2007 until 2016, reaching an all time high of 19.28 percent.

The present Nigeria state has also fail to align what is known to be public good to her economy;

as public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others. It can also be described as something that is useful for entire population as is education and infrastructure. This is in contrast to a common good which is non-excludable but is rivalrous to a certain degree. It is observable that there is total denial of public goods for citizens by the government not even going on electricity which is the strong hinge for infrastructural development and any other form of development.

A very pivotal one to be concerned of all now is the new petrol pump price to N145 per litre. To Nigerians with this increment is wickedness taken too far with a concocted flimsy excuse of dealing with black marketers just to support their harsh action. Along with a quote ‘one only show out what it’s in the mind’. This policy is stringent for the compliance of the masses, as the federal government can afford anything that comes their way and deceiving us with change propaganda, they were able to achieve this because no dissatisfaction was shown by the citizens, no protests since all was in agreement with the TUC, NLC and other government parasitical that hide in the cover of seeking interests for all.

The current administration is missing it out with no general direction and vision at the spot of destroying the illegal refineries instead of been confiscated to serve the general purpose of supplying oil to every household, industries at a sensible pump price for being a oil producing state. Which lead to the question ‘What has the current administration done for the benefit of the masses?’ consequently to, not forgetting the issue of corruption fighting which have been what the government have said or shown to be embattling ever since gain power. To the notice of all, it can be said categorically that the government not fighting corruption but only gathering funds. 

How can we talk about corruption fighting where the judicial system itself corrupts and not totally independent as so called to be? As a trial of a senate leader that happens to be a party member of the presidential seat taking ages to be given verdict to but in the market where a stealer of food item or other commodity face the immediate wrath of jungle justice. This government fight no corruption but harbouring of corrupt leaders which we all aware of them don’t even know maybe a treaty has been signed with them.

All what the government have done and still doing is presenting the conundrum faced by the masses in an absurdity manner. A good life or either a good government should have time to think, rethink and re-audit what steps it about to take and the aftermath effect or consequences on the life or nation. For it is a bad thing for good policies should be implement by a bad government and a good thing for a bad policies to be implement by a good government.

I wouldn’t end this article without my perspective of possible solutions for the present Nigerian economy.

· Government should always seek public opinion first because they govern/rule people and not animal. 

· Government should replicate the good things they see in other countries as travelling out is routine for them. 

· Government should seek foreigners or investors about infrastructure, electricity e.t.c also and not only for loan alone. 

· Make the judicial system free and independent with fast respond deadlines for hearing of cases that has to do with corruption because it is a national and partial criminal issue. 

· Lastly here, which is a paramount for all is for them to create or establish a body for price control i.e. price control board for all commodities because the masses at the losing end.

- Odemuyiwa Olalekan

Marbel Mark, 31, from Edo State but married to a man from Delta State, has petitioned Edo Police Command, urging investigation into the acid bath she suffered in the hands of some persons now at large.

The incident happened in October 2015, when the victim, based in Spain, with her seven year-old daughter, visited Nigeria.

Trouble started when she was said to have visited a native doctor at Sakpoba Road, Benin shortly after her arrival in Nigeria. Though the relationship between the woman and the native doctor could not be ascertain, it was said that the wife of the latter became jealous of the alleged ‘close relationship’ between the Marbel and her husband and decided to fight Marbel.

She accused her of having an affair with her husband but Marbel refuted the allegation vehemently, insisting that the relationship between her and the husband was purely business. But of course the wife did not believe her story and continued to protest.

According to Vanguard, the wife feared Marbel may be using her connection abroad to make her husband dump her. It was learnt that the situation took a turn for the worse when the native doctor’s wife called Marbel’s husband in Spain to report the matter to him.

It was gathered that the incident caused problems between Marbel and her husband.

Tragedy struck, however, when Marbel went to the salon to fix her hair, as unknown persons stormed the place and bathed her with acid. The incident caused pandemonium as people ran helter-skelter, a situation which gave the suspects the opportunity to escape.

Marbel was rushed to the University of Benin Teaching Hospital (UBTH) for treatment before she was flown back to her base in Spain for surgery. In the midst of the tragedy, Mabel was said to have sued her husband for divorce, which was said to have been granted by a court in Spain.

Though the reason for the divorce is unknown, it was gathered that Marbel’s husband and the native doctor’s wife continued their communication to the discomfort of the victim. However, Marbel, who is still receiving treatment in the Spanish hospital, is appealing for justice from Edo State Police Command.

Speaking to Vanguard on telephone, she lamented:
“I have spent so much hospital bills to save my life due to the wickedness of somebody. I have petitioned the state Police Command through my lawyer. I am only appealing for justice. The police must apprehend the person that bathed me with acid and those that sent them. I have spent all I have on hospital bills so I cannot equally be denied justice in Nigeria. 

I only came on holiday but look at what I got in return. I need the prayers and help of everyone, particularly the police so that those behind this will be apprehended. I am in pains and those behind this should not go unpunished.

And I appeal that the investigation should be accelerated because justice delayed is justice denied. Life has become so frustrating but I thank God for his mercies.''

The matter is now being investigated by the homicide section of the Edo Police. It was said that the wife of the native doctor has been interrogated and some other persons questioned also.

Spokesman for the state Police Command, Abiodun Osifo, said:
This is a crime against God and humanity and we must not condone it. How can somebody bath a fellow human being with acid? Even if the person is your enemy, does that make sense? Such people must face the law no matter where they are hiding. You cannot run forever.”

Their food supply has been cut off by our gallant soldiers, they've been trapped inside the inner part of the dreaded Sambisa forest. Consequently, Boko Haram sect now seems willing to broker a deal with the federal government to release the remaining kidnapped Chibok girls in return for escaping prosecution.

According to sources, only a third of the Chibok girls are alive with the Boko Haram leaders.

The Times of London also reported this. The paper reported that senior members of the terrorist group said it was prepared to negotiate a surrender and release the hostages on the condition they would not be not betrayed by the government or killed for giving up arms.

“We want to surrender because things are getting worse,” said Amir Muhammad Abdullahi, who is reportedly Boko Haram’s second in command. He said no side was winning the battle and that only a third of the girls remained as “the rest have been martyred”.

Two Chibok girls have been found in the last one week – one of them called Amina Ali Darsha Nkeki – was found near Sambisa forest.

Oil marketers have given an indication that the pump price of petrol will crash in the next one month. In fact, some stations belonging to independent marketers in Abuja and Lagos are beginning to sell petrol below the N145 given last week by the Federal Government as the benchmark price per litre.

The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore; the President of Independent Petroleum Marketers Association of Nigeria, Chief Obasi Lawson, and an executive member, Reconciliation Committee of the Independent Marketers, Mr. Dibu Aderibigbe, in separate interviews, said the cost of petrol would fall in the near future as a result of the competition.

Olawore said, “I just returned from Abuja and I discovered that there are two retail outlets around Jabi that were selling at N137 per litre. This is because they needed to offload the stock and get more.

“So, when we get to the point where everybody has the product as we are doing now, those who want to quickly turn their tanks round will choose the price they want to sell. I am very confident that in spite of the unfavourable exchange rate, we will get to the point where prices will be moving up and down.”

Lawson also stated that the current partial deregulation policy of government would liberalise the oil and gas industry and engender competition that will warrant a reduction in price.

He said, “In less than one month, we will start reaping the benefits of the new policy.

This new policy of the Federal Government that effected the change in price of the PMS is a welcome development and the PMS prices will start coming down very soon.”

Similarly, Aderigbigbe stated that the price of petrol would fall soon because independent marketers were gearing up to import the product in large volumes.

He said, “Independent marketers are going to import large volumes of petrol and any filling station that sells at high prices may lose customers. In fact, competition will be high and I can assure you that within the space on one month or two, the price of petrol will fall to the point that people will start making choices.”

The marketers have continued to laud the partial deregulation of the downstream industry, stressing that the initiative would not only liberalise the sector but also force down the pump price of petrol as a result of competition.

To make funding available for petrol importers, it was gathered that the Federal Government had to pair the upstream arm of the oil giant, Total E&P with its downstream company involved in the sale of the Premium Motor Spirit (petrol) at filling stations.

Specifically, some senior officials at the Federal Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation told our correspondent that the government had paired Mobil upstream with its downstream firm.

They stated that other major marketers were also linked up with selected IOCs in order to access the United States dollars at reasonable rates.

“The pairing of upstream and downstream companies by the government is to ensure that the downstream businesses access forex at considerable rates, which are far better than what you get at the parallel market,” an official at the Petroleum ministry, who spoke on condition of anonymity said.

In one of the latest bulletins of the NNPC, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated that he had been able to get the buy-in of the upstream companies operating in Nigeria to support the growth of the downstream sector.

Kachikwu, in the bulletin, said, “This specifically is to enhance domestic supply of refined petroleum products by seeking the upstream companies to make available additional funding to support the importation of products being an innovative solution to address the current challenges in fuel supply and distribution.

“I have tied Total upstream to Total downstream; Mobil upstream to Mobil downstream; Agip Eni to Oando; and Shell to ConOil, to provide the needed funding.”

When Punch asked if marketers had started getting forex from upstream oil companies, Olawore confirmed that Presidency had kept its words, adding that some majors had benefitted from the initiative.

Rival militant groups clashed and attacked an oilfield operated by Eni's Nigerian subsidiary, Agip Oil Company (NAOC) at Ikeinghenbiri community in Southern Ijaw council, Bayelsa.

According to Sahara Reporters, residents of the community have fled their homes following the clash. They say the militants were fighting for the control of the Ogboinbiri-Tebidaba crude trunk line which passed through their community.

A resident of the community identified as Ebidimo Joseph said “We understand it is a conflict between two armed groups for the access to the crude pipeline, one group claims to be working to safeguard the pipeline and said the other group are vandals; they have been shooting.

The sound of the gunfire is scary, and there is no sign of the Joint Task Force soldiers who are supposed to be patrolling the area, we have not seen any soldier,” Joseph said According to Joseph, the pipeline was set ablaze while the two groups engaged each other in the gun battle adding that there was no way to ascertain if there was any casualty yet.

Ten people have been confirmed dead and five critically injured in a ghastly crash at Abia Tower roundabout, Umuahia, Abia State capital. The fatal crash involving a commercial bus belonging to Peace Mass Transit with Plate Number AKL-895YY and a truck occurred this afternoon. Two of the five survivors are in very critical, life threatening condition. The bodies have been deposited at the Federal Medical Centre, Umuahia. See photos from the accident after the cut...

This kidnapping of a thing is becoming a fad. A child kidnapper was caught at Owode Ajegunle Ikorodu road area of Lagos today (Tuesday). In the last few months over five children was said to have gone missing in the same area the child reportedly went missing.

But the female kidnapper was nabbed as she was trying to escape with two children she abducted in front of a primary school. A woman who saw her identified one of the children she was carrying, she suspected a foul play and immediately called the child's mother.

The mother of the child replied immediately that she has been searching for the child...

The woman alerted people in the area and the kidnapper got mobbed. She was eventually rescued by Police. The kidnapper reportedly said she sells each child to her buyers for the sum of 50,000 Naira.

The Economic and Financial Crimes Commission, EFCC, has arrested the Principal Private Secretary, PPS, to former President Goodluck Jonathan, Hassan Tukur.

He was picked up by operatives of the anti-corruption agency from his resident in Abuja.  Tukur is said to be one of the most powerful persons in the administration of Jonathan.

According to SR, it was not clear why he was arrested, but the commission has been investigating how some huge amounts were stolen and diverted for political purposes under Jonathan's watch.

The EFCC is already prosecuting a former National Security Adviser, NSA, Sambo Dasuki and many other top politicians. EFCC also has in its custody Femi Fani-Kayode, who served as the director of publicity for the Jonathan campaign organisation during the 2015 election.

An EFCC source disclosed that the Billions they are discovery as loot in recent times is mind blowing.

A factional president of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, says his faction will not be participating in tomorrow May 18th planned strike action against the increased pump price of petrol. Speaking to newsmen in Abuja today, Ajaero said the present economic hardship many Nigerians are facing will increase if the strike holds.

He accused the Ayuba Wabba led faction of the NLC of asking for a loan of N2 billion they took to buy houses to be written off by the government ...

"When you are asking that the loan given to you in 2012, which had not been paid back should be written off, we believe that the action has already been sold out before it takes off. So, we will wait for our group to meet. But definitely, it appears that by ideology and every other thing, we can no longer meet. We thought we should have managed this in the interest of Nigerians but from the look of things, it appear we have to go our different ways. We have condemned the increase and called for negotiation and reversal. It was on the basis of our calls that this meeting was summoned for us to meet and find the way forward.” While insisting that his group will not participate in the strike, Ajaero said, “If we wanted to be serious about an action, you can’t call for an action on Wednesday. It is only an action that is sold out that is called for Wednesday so that by Friday, you say you have strike lethargy and call it off."

The largest cruise ship in the world – measuring more than four football pitches in length with a maximum capacity for 6,780 passengers – has docked in Southampton for final preparations before its maiden voyage. A small crowd of well-wishers, welcomed the £800million Harmony of the Seas as it arrived just after dawn today.

Tens of thousands of people are expected to visit the coastal city this week to catch a glimpse of the gigantic vessel before it carries paying customers for the first time. After sailing from a shipyard in Saint-Nazaire, France, and spending the day yesterday cruising the English Channel, Harmony of the Seas sailed up Southampton Water and arrived at Southampton shortly after 6:15am.

It will depart on a short cruise on Sunday – a four-day taster voyage to Rotterdam, in the Netherlands – and on 29 May will make its maiden voyage to Barcelona, where it will be based for 34 seven-night tours of the western Mediterranean this summer. It will sail between Florida and the Caribbean this winter. Royal Caribbean International’s 18-deck ship has set new records for length (1,1188ft), gross tonnage (227,000), width (215.5ft), passenger capacity (5,479 at double occupancy or a maximum of 6,780) and staterooms (2,747).

With a crew of 2,100 from 77 countries, the floating city boasts seven 'neighbourhoods', a 10-storey slide that is the tallest at sea, 23 swimming pools, 20 dining venues, 52 trees, surf simulators, robot bartenders, a casino and climbing walls.

See the photos below...

Credit: UK Daily Mail

A 9ja400 reader sent this in but I'll leave out the name of the school because I wasn't able to confirm it happened there. Read below...

Hello chibuzor, this is a picture of a five month old still born that was found in the toilet of a hostel of a supposed Christian school in Benin city. On the 15th of May 2016 which was a Sunday the cleaners found the aborted child there and alerted the school authorities. The schools clinic evacuated the child and took it for verifications before discarding.
The Vice Chancellor summoned the students on the 16th of May asking the students not to narrate the hideous event to anyone not even their parents nor any social media platform and they will be rewarded appropriately if they all kept mute on the issue. The sum of #500,000 will be given to lure the student who did this to come out. The same school that publicized their core values as transparency and all is now trying to cover up terrible acts like this and dash out huge amounts of money when they can barely afford several amenities for the students.

Osinbajo takes over as Buhari proceeds on leave - http://goo.gl/Z0xSXq

Assets declaration: S/Court orders Saraki to go back to CCT for his trial - http://goo.gl/2NIg5O

Buhari: Babangida killed the Naira with SAP - http://goo.gl/jpcibn

Jonathan: My administration did not negotiate with Boko Haram - http://goo.gl/jDKICm

 

Lassa fever hits Imo: Medical Doctors, 30 others quarantined - http://goo.gl/AbbDTK

How police caught my uncle who planned to use me for money ritual - http://goo.gl/YgugiD

Today's AUTHORITY ICON on Page 3 is CHIOMA AJUNWA-OPARA, MON - http://goo.gl/qcysQL

 

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