Jonathan’s Declaration: Things are Getting Better

 President Goodluck Jonathan


By  Ahamefula Ogbu       
President Goodluck Jonathan Monday took stock of what has been achieved within one year of his administration. His conclusion: Nigeria is making progress in spite of the numerous challenges confronting her.

A major highlight of his address to mark Democracy Day was the renaming of the University of Lagos after the late Bashorun MKO Abiola, the acclaimed winner of annulled June 12, 1993 election, who died in military custody while trying to claim the mandate.

The school will now be known as the Moshood Abiola University of Lagos, although students of the institution protested the name change immediately after the broadcast.

Jonathan identified the problems of the country as insecurity, unemployment, lack of will to develop the potentials which abound in the country, insatiable appetite for imported good "and the propensity of few of the elite class to resort to foul language and violence in their quest for power".

But he assured Nigeria that the country was being steered in the right direction.

He gave a sector-by-sector assessment of economy, promising that in no distant time, visible changes that will touch on the life of the average Nigerian would be felt.

The president said the credit rating of the country has been stable in the face of global downturns which has adversely affected other economies.

He said for the first time in Nigeria, the external reserves this month hit an all time high of $37.02 billion while commitments to foreign direct investment into the country have hit N6.6 trillion which described as an indication of the confidence that investors globally have in the economy.

“There are challenges, yes, but we are working hard to address those challenges. And, by God’s grace, we will succeed. My confidence is bolstered by the results which we have achieved in different sectors within the last twelve months. Our democracy is stable. Its foundation is strong and firm. Its future is bright.

“We need a lot more introspection, even as we look forward. We must take steps to heal the wounds of the past and work together, as a people with a shared destiny under one flag. We must strengthen our collective memory, draw strength from our history, and build bridges of unity to take our country to greater heights,” Jonathan charged.

He noted that his administration was strengthening agencies to fight corruption and had already moved to amend the laws to enable them discharge their functions with more effect, adding that checks instituted by his administration had led to saving N100 billion from wasteful spending while efforts are on to sustain the fight.

On the ports and business environment, Jonathan said that reform has led to reduction of agencies at the ports from 14 to seven while new measures have led to reduction in the time goods were cleared from months to seven days.
He added that the aim was to attain 48 hours clearing period which was the global standard. The ports, he saidd, now work 24 hours a day.

“I want to reassure all Nigerians that this administration remains committed to waging a sustained battle against the menace of corruption. In the last one year, we have taken specific steps to reduce opportunities and avenues for corruption, and to strengthen the capacity and integrity of our institutions.  For example, our ports reform programme has reduced the number of agencies at the ports which hitherto frustrated the speedy clearance of goods at the ports.

We have also cleared the stretch of trailers and lorries blocking the Apapa Expressway. We have put an end to the fertilizer and tractor scam that once dominated the agricultural sector. Our review of the pension payment system has also blown the whistle on corrupt practices which are now being addressed.

“Within the last one year, we set up a committee to identify leakages and waste in the Ministries, Departments and Agencies. I am confident that the implementation of the recommendations of that committee will help to eliminate corruption channels within the system, and improve the efficiency of the public service. In January, we announced a policy of deregulation in the downstream sector, but this was misunderstood by naysayers and reduced narrowly to a fuel subsidy removal initiative, whereas the policy was designed to completely eliminate the grand corruption in the downstream sector, and create the necessary incentives for private sector investment.

“We have strengthened the leadership of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC). Both agencies are being re-positioned for more effective service delivery. We will continue to strengthen the law enforcement and anti-corruption agencies for optimal performance.  We will also need the support of our courts. The courts have to do more,” he explained.

Jonathan who paid tributes to the Nigerian military for subjugating themselves to civil authority unlike in some smaller African countries which has now seen to an unbroken 13 years of civil rule and a further proof of the confidence in democracy in spite of the perceived differences.

In an apparent justification of the naming of University of Lagos after Abiola, he said: “When General Abdusalami Abubakar handed over the baton of authority to President Olusegun Obasanjo, in 1999, it was a turning point for Nigeria. We did not arrive at that turning point by accident.

Many Nigerians laid down their lives for the transition to democracy to occur.  Some were jailed. Media houses were attacked and shut down. But the people’s resolve was firm and unshakable. 

This is what we remember. This is what we celebrate. On this day, I recall especially the martyrdom of Chief M. K. O.  Abiola, whose presumed victory in the 1993 Presidential election, and death, while in custody, proved to be the catalyst for the people’s pro-democracy uprising. The greatest tribute that we can pay to him, and other departed heroes of Nigeria’s democracy, is to ensure that we continue to sustain and consolidate our democratic institutions and processes, and keep Hope alive.”

He appealed to Nigerians to have faith in his leadership as he was committed to making the necessary changes that will turn the fortunes of Nigeria, pointing out that he promised Nigerians free and fair elections in 2011 and achieved it which had repositioned the country in the comity of nations and will likewise deliver on any of the promises he has made to the nation.

On the remaining leg of addressing electoral violence, he said his cabinet had taken decisions on the recommendations of the White paper on the matter and will soon expedite action on Electoral Offences Tribunal as a way to check the violence which attends elections.

On the security challenges, he said things took the nation by surprise but stated that he has built and will continue to improve the security infrastructure of the country so that the security agencies would be better able to deal with the situation, adding: “I want to reassure you that we are making progress. But we can also do a lot more. We must. And we will.”

He enumerated measures he is taking on the economic front, particularly reforms in the agricultural sector where he aims to make Nigeria not only self sufficient in food production but as net exporter of finished and processed agricultural good.

“Today, progress has been made. The country’s credit rating is positive, in contrast with many nations being downgraded.  In 2011, our economy grew by 7.4 per cent. As at mid-May 2012, our foreign exchange reserves had risen to $37.02 billion, the highest level in 21 months. We have stabilized and improved our fiscal regime. We brought the fiscal deficit down to 2. 85 per cent of GDP from 2.9 per cent in 2011. We reduced recurrent expenditures from 74 per cent to 71% and reduced domestic borrowing from N852 billion in 2011 to N744 billion in 2012. We cut out over N100 billion of non-essential expenditure and increased our internally generated revenue from N200 billion to N467 billion. 

“For the first time in over a decade, we now have a draft Trade Policy which provides a multi-dimensional framework to boost our trade regime and facilitate the inflow of investments. We have generated over N6.6 trillion worth of investment commitments. The total value of our trade is also much higher than the value estimated the previous year due to deliberate government policies. To facilitate the ease of doing business in Nigeria, we have a policy in place to make visa procurement easier for foreign investors, with safeguards to prevent abuse.

“The goal of our administration is to ensure that every Nigerian can find gainful employment. Given my dissatisfaction with the prevailing unemployment situation in the country, our administration has embarked on an ambitious strategy of creating jobs and job-creators through the launch of several initiatives mainly targeted at the youths and women.

“In October 2011, we launched the Youth Enterprise with Innovation in Nigeria Programme, designed to encourage entrepreneurship and provide grants for small and medium scale enterprises. Over 1,200 Nigerian youths have benefitted from this initiative.

We have also launched the Public Works Women and Youth Empowerment Programme, which is designed to employ 370, 000 youths per annum, with 30 per cent of the jobs specially reserved for women. Let me make it clear here that our YouWIN programme is designed to nurture and mentor young entrepreneurs to become major players, employers and wealth creators in business.

“We are gradually reducing the footprints of government in business activities through privatization, liberalization and deregulation based on our recognition that the private sector should be the engine of growth in our economy. To ensure that the private sector is well positioned for this task, our administration has embarked on key structural reforms in the Power Sector and at the Ports.

“To improve reliable power supply, our administration is judiciously implementing the Power Sector Roadmap, which is at an advanced stage, to fully privatize power generation and distribution while reducing the cost of electricity to rural households and the urban poor.

“The commitment of this Administration to the provision of regular and uninterrupted power supply remains strong and unwavering.  We all agree that adequate and regular power supply will be the significant trigger to enhance this nation’s productive capacity and accelerate growth.  It is for this reason that I remain optimistic that the reforms we have initiated, the decisions we have taken so far and the plans we intend to faithfully prosecute will yield the desired results,” he said.

While insisting on the privatisation of the power sector, he reasoned that it was right for them to repair all the power stations and the transmission lines before handing over to private investors through strict adherence to the privatisation policy of the regime.

“Our approach is two-pronged:  First, is the immediate repair of power plants, as well as transmission and distribution infrastructure in the short term.  The second is the building of institutions and the provision of enablers to attract investors. We have revived and are accelerating the completion of the National Integrated Power Projects. We are also building about 4000km of transmission lines and hundreds of substations.

We have completed the design for the construction of both Mambilla and Zungeru Hydro power plants which will add about 3, 000 MW to the national grid.

“By mid 2010, the national power output was about 2, 800 MW. By the end of 2011, we reached a peak of more than 4, 000 MW. A National Gas Emergency Plan has also been launched to redress the problem of gas supply which arose essentially due to poor planning.

“For long-term power availability, we have strengthened a number of key institutions such as the Nigerian Electricity Regulatory Commission, the Bulk Trader, the National Power Training Institute of Nigeria, and others.  We are also working with the World Bank to provide guarantees for gas and power providers.  The signing of MOUs with World Leaders in power equipment – General Electric of USA and Siemens of Germany as well as US and China Exim Banks for financial investment, is a clear indication of the level of confidence which the world investment community has in our power sector road map.

“In the Oil and Gas Sector, our Administration has charted a new course that will ensure enduring transparency and accountability. We are re-drafting the Petroleum Industry Bill (PIB) to ensure it meets the aspirations of all Stakeholders given the current realities and future expectations in the global energy landscape. Work on the PIB will be concluded in June 2012 and formally submitted to the National Assembly. Additionally, Special Task Forces dealing with Governance and Control, Petroleum Revenue and National refineries are finalizing their work to ensure probity across the oil and gas sector, and self-sufficiency in refined petroleum products.

“In the Downstream Sector, the Nigerian Content Development Act, since inception in 2010, has boosted the local production of line pipes, in-country fabrication tonnage and engineering support services. As a result, retained in-country spend has grown from approximately US $1bn to a current estimate of US$4bn, and over US$3 billion Foreign Direct Investment has been brought in for upgrading and building new yards, altogether generating over 120,000 direct and indirect jobs,” he explained.

He said the policy of the agriculture was “directed at promoting local production, substituting for imported foods, and adding value to our locally produced crops. We are recording successes already. Government’s policy to ensure rice self-sufficiency by 2015 is already paying off. New rice mills are being established by the private sector to mill locally produced rice.

Ebony Agro Industries located in Ikwo Local Government Area of Ebonyi State has rolled out its high quality parboiled rice. In Kano, Umza rice mill has taken off and can hardly meet demand, while in Benue State Ashi rice has hit the market. Consumers are buying more of Abakaliki and Ofada rice too”.

Alonso Tips English, French for Euro Glory

Spain national football team player Xabi Alonso signs autographs before a public training session in Schruns

AFP

Spanish midfielder, Xabi Alonso said on Tuesday he believed two-time winners France and England could do really well at the upcoming European Championship, which kicks off in Warsaw on June 8, reports AFP.

The 30-year-old - an integral part of Real Madrid's La Liga title win last season - said it would be foolish to underestimate the French and the English at the tournament which is being co-hosted by Poland and Ukraine and runs till July 1.

"France and England are in that bunch of teams who are capable of going far," said Alonso, a member of both the Euro 2008 and 2010 World Cup winning sides.

"They are part of that group because of the players they have and their respective histories.

"They have this competitive instinct and even if they aren't talked about much with respect to this competition, they are more than able to attain their target (of winning it)," added Alonso, who has won over 90 caps since making his debut in 2003.

Alonso, who had a successful spell at Liverpool with the highlight the Champions League win in 2005, admitted that the season just past had left him and his team-mates exhausted but they had recovered since.

"The season in terms of club competitions was really intense," said Alonso referring to their successful battle to unseat bitter rivals Barcelona as champions while they also reached the Champions League semi-finals.

"We had to battle till the end in order to achieve our target, but we have had time to disconnect and because of that I feel fine personally."

Spain are due to fine tune their preparations for Euro with two more warm-up matches - they beat Serbia 2-0 last Saturday - against South Korea in Berne, Switzerland, on Wednesday and China in Seville on Sunday.

The Spanish will then fly to Poland on June 5 and play all their group games in Gdansk, against Italy on June 10, then Ireland on June 14 and round off their group games against 2008 quarter-finalists Croatia on June 18.

Insight: As governor, Romney picked winners and losers of his own

(Reuters) - It would be a triumphant moment for any governor: A cutting-edge company announces plans to build a new plant that will create hundreds of high-paying jobs and bolster one of the state's most prominent industries.
For Mitt Romney, the June 2006 announcement by drugmaker Bristol-Myers Squibb served as a signature accomplishment as his four-year stint as Massachusetts governor drew to a close and a U.S. presidential bid beckoned.
The new facility came with a price tag: Romney and other state officials agreed to $67 million in tax breaks and other inducements to ensure the New York-based company picked Massachusetts over rival states like North Carolina.
Now as he mounts his second White House bid, Romney is hammering President Barack Obama for playing favorites with green-tech companies rather than letting businesses succeed or fail on their own. Romney is the presumptive Republican challenger to face Obama, a Democrat, in the November 6 election.
"Obama is giving taxpayer money to big donors and then watching them lose it," Romney's campaign said in an Internet video released on Tuesday.
It's a powerful line of attack that connects failed ventures like Solyndra, the bankrupt California-based solar panel maker that defaulted on a $535 million loan from the U.S. Energy Department, with the trillion-dollar budget deficits and sluggish U.S. economy of the past four years.
But it might invite unfavorable comparison with Romney's tenure as governor of Massachusetts from 2003 to 2007. During that time, Romney pursued a hands-on approach to economic development that favored some industries over others and, in some instances, singled out individual firms for special favors.
Romney, a former private equity executive, backed tax breaks for film makers and biotech and medical-device manufacturers. His administration promoted venture capital-style funds that extended loans to start-up companies, some of which subsequently went out of business.
As the state's top salesman, he led the effort to lure desirable employers through tax breaks and other incentives.
"That's what governors do - they have to pick winners and losers," said Boston University professor Fred Bayles. "It's a calculated risk that governors and state politicians take in an effort to get jobs."
Sometimes, as with Bristol-Myers Squibb, Romney's efforts panned out. Other times they did not.
A $2.5 million state loan helped lure Rhode Island biotech firm Spherics Inc across the state line to Massachusetts in 2005. Romney's economic development secretary, Ranch Kimball, touted the move as "a tangible result of the combined and coordinated efforts of the public and private sectors to highlight the benefits of locating in Massachusetts."
The company shut down three years later, laying off all of its employees and defaulting on $1.5 million of the loan, according to MassDevelopment, the state development authority.
Critics on the left say Romney would have been better off investing in education and transportation to boost the state's business climate over the long term. Critics on the right say he should have concentrated on lowering business taxes overall, rather than aiding selected industries or companies.
'MAKES NO SENSE'
"It makes no sense to give tax breaks to some companies and not others when the solution lies in making the tax code m ore investment friendly," said David Tuerck, who heads the Beacon Hill Institute, a conservative Massachusetts think tank.
American Bridge 21st Century, a Democratic research group, noted that while Romney the candidate opposes government intervention in business, many of the companies he owned during his time as head of private equity firm Bain Capital took advantage of government subsidies.
"In many ways Romney's whole approach to the economy is hypocritical," said American Bridge president Rodell Mollineau.
Romney's defenders say he was just doing his job as governor. Though a hub of innovation and research, Massachusetts has a high cost of living and a reputation for being hostile to business that often put it at a disadvantage compared with other states.
In such an environment, incentives are sometimes needed to lure marquee employers, but they were never the primary emphasis of Romney's salesmanship, Romney backers say.
"States are different from the federal government in that we are absolutely competing for businesses with other states," said Jim Stergios, who worked to streamline regulations as a member of Romney's administration. "Do you go back to Bristol-Myers Squibb and say, 'I know North Carolina is offering you $70 million and we're not going to offer you anything?' You've got to be in the game."
Campaigning for governor in 2002, Romney said he would not rely on special breaks or other "corporate welfare" to stem an exodus of manufacturing jobs.
"There are some companies that are only interested in tax breaks. Let them go to Alabama," Romney said at a news conference in October 2002.
Less than three weeks after taking office in 2003, Romney announced a new $15 million green-energy fund to help renewable-energy businesses in the state. A solar-panel company, two fuel-cell firms, a methane-gas facility and another firm got a total of $9 million in state funds in help.
'MAJOR ECONOMIC SPRINGBOARD'
In remarks at Konarka, a Lowell solar-panel firm that got a $1.5 million state loan, Romney said he hoped the green-energy fund "can become a major economic springboard in the renewable energy sector," according to a news release at the time.
Romney also signed off on a $12.5 million Emergency Technology fund for the state to help high-risk technology startups. The program since then has aided companies like E Ink, which developed the technology used in Amazon.com's Kindle e-reader, but has also lost money on some of its investments.
Along with Spherics, the program lost an undisclosed amount of money on a $2 million loan to biotech firm Acusphere, according to MassDevelopment.
Romney campaign officials say it is inaccurate to compare either fund with the Obama administration's loan program that backed Solyndra and other green-tech companies. Republicans have criticized Obama's program as a costly boondoggle that rewarded politically connected businesses and interfered with market forces.
Romney campaign officials point out that both funds were overseen by independent agencies, not political appointees. Romney used existing money from an underused trust to set up the green-energy fund, and he vetoed the venture-capital portion of the technology fund before it was restored by the Democratic-controlled state legislature.
"Governor Romney is proud of the record he had of making Massachusetts a pro-business environment that added jobs," said a Romney campaign official who spoke on condition of anonymity.
Romney also centered a 2003 economic-development bill around tax credits for biotech and medical-device manufacturers that create jobs. It is hard to tell if they had an impact.
Employment in the biotech sector rose 25 percent from 2002 to 2006, according to the Massachusetts Biotechnology Council, a trade group. But federal statistics indicate that the state lost 4 percent of its pharmaceutical-manufacturing jobs and 20 percent of its medical-equipment manufacturing jobs during that period.
Overall, Massachusetts ranked 47th out of 50 states in job creation under Romney's tenure.
Romney's economic-development efforts did not move the needle much one way or the other, said Leigh McIlvaine, an analyst with Good Jobs First, a left-leaning research group that tracks economic-development subsidies.
"He was betting just as blindly as anyone else was during that time," McIlvaine said.
Romney backed a much bigger tax break for the movie industry in November 2005, signing a bill that would give tax credits of up to $7 million for productions that film in the state.
Subsidies like these have been criticized as inefficient, while backers say they are needed to support a home-grown film industry and can boost tourism.
The program had generated about 1,700 in-state jobs through 2010, costing the state $142,500 in lost tax revenue for each job, according to the Massachusetts tax office. The state had gotten back 13 cents for every dollar it gave up in tax revenue.
In the case of Bristol Myers-Squibb, backers can point to tangible results. The $750 million facility, completed in 2011, now employs 350 people. It employed 1,000 contractors at the height of construction, according to the company.
The state issued $34 million in bonds to build new sewage facilities at the site, a former Army base, and agreed to modify an existing tax credit so the company could get back $33 million from the state. Labor leaders agreed to build the facility at reduced rates. The town where the plant was built agreed to allow it to be taller than local limits would have permitted.
Robert Lynch, an economics professor at Washington College in Maryland, said that broadly speaking these types of incentives have not been shown to make a difference.
"They probably could have spent the money more effectively in other ways," Lynch said

Italy Quake: Search for Survivors in Emilia Romagna

The epicentre was near Modena, close to a similar quake nine days earlier

BBC

Rescuers in northern Italy are continuing to comb through the rubble for more survivors after a strong earthquake killed at least 16 people, reports the BBC.

About 350 people were injured after the magnitude 5.8 quake hit the Emilia Romagna region - the second deadly tremor in just over a week.

A woman was pulled out alive in the evening in Cavezzo, but officials say at least one more person is missing.

The quake on May 20 killed seven people and left thousands homeless.

The 6.0 magnitude tremor also caused significant damage to Emilia Romagna's cultural heritage, destroying churches and historic buildings.

The number of people made homeless has now gone up from 6,000 to 14,000 after the two quakes, the Italian government says.

The woman who was saved in Cavezzo reportedly spent 12 hours in the rubble in her kitchen. The 65-year-old managed to survive because a piece of furniture had toppled over, preventing her from being crushed by the wreckage.

She was taken to hospital.

Prime Minister Mario Monti said earlier his government would do everything possible to restore normal life to the area, which was "so special, so important, so productive for Italy".

Government troops are now deployed in the affected areas, and an emergency cabinet meeting will be held on Wednesday.

All through the day the search went on for a 65-year old woman, who lay buried in the rubble of her home.

Then nearly 12 hours after the quake struck, she was pulled out alive. Rescue workers helped by a sniffer dog had found her in her living room, trapped under the collapsed wreckage of the floor above.

With damaged apartment blocks and other structures in every other street, the authorities had cordoned off virtually the whole of the centre of the town and its residents had abandoned their homes.

Then late in the evening, a huge machine capable of tearing down entire buildings rumbled into the streets and went to work.

It began demolishing a four-storey office block that was too badly damaged to save. And it went on ripping and tearing at the masonry far into the night.

In the shock of the earthquake and in the operation to clear away the wreckage that it left behind, the shape of this small town is being changed forever.

Tuesday's quake struck 40km (25 miles) north of Bologna at a depth of 9.6km (six miles) at about 09:03 local time (07:03 GMT).

Thousands of residents ran out of buildings after the tremor, which was felt as far away as Venice and the Austrian border.

The towns of Mirandola, Medolla and Cavezzo were closest to the epicentre, but the northern cities of Milan and Bologna were shaken too.

Among the dead were four people in Mirandola, including two who were in a factory that collapsed. Three people also died in San Felice, and two in Cavezzo.

In Mirandola, the San Francesco church collapsed, leaving only its facade standing.

Three people were killed at a factory that had only been cleared for re-entry on Monday, following the earlier quake, the Corriere della Sera news website says.

A parish priest in the town of Rovereto di Novi is reported to have been killed by a falling beam when he went back into his church to save a Madonna statue.

"It's a disaster, I've never seen anything like it," Cavezzo Mayor Stefano Draghetti was quoted as saying by Reuters.

Christopher Gilbert, a Londoner living in Modena, told the BBC that he had felt "a rolling earthquake lasting around 15 seconds".

Chris Brewerton, living in Mantua, about 58km north of Modena, told the BBC: "The chair starts shaking and there's a feeling of waves below me.

"I rush out into the garden; the shutters and garage door are banging, the ground below me swaying."
Industry hit

There have been several aftershocks since, including a large one at about midday which sent people out into the streets in cities up to 100km away, the BBC's Mark Duff reports from northern Italy.

In Pisa, offices were evacuated as a precautionary measure while there were moments of panic in Venice, where a statue fell to the ground.

Pictures from the worst-affected areas show factories and office blocks reduced to rubble.

Calls to emergency services have overloaded the telephone network in some areas, causing a system blackout. Train services have been halted in some parts of northern Italy.

FG Begins Payment of 2012 Fuel Subsidy Claims

 Minister of Finance, Ngozi Okonjo Iweala


By Kunle Aderinokun and Ejiofor Alike
A potential fuel shortage in the country following the suspension of subsidy payments to importers of petroleum products has been averted as the payment of verified claims to the affected marketers has started.  This followed the suspension of payment of 2011 subsidy arrears.

This is coming as the Federal Ministry of Finance has said that it had spent N451billion out of the N888 billion budgeted for the payment of subsidy in this year’s budget, on the payment of arrears for 2011 alone to beneficiaries.

The ministry also said that next month’s meeting of the Federal Accounts Allocation Committee (FAAC) would decide on the resumption of the payments for the arrears of 2011, adding that it would pay only verified marketers.

It was however gathered that the ministry, through the Debt Management Office (DMO), has started issuing Sovereign Debt Notes (SDN) to marketers for 2012 subsidy to enable them collect their money from the Central Bank of Nigeria (CBN).

To avoid what it called “extra budgetary expenditure”, the ministry had suspended payment of arrears of 2011, after the claims overshot the budget.

The arrears of 2011 were in respect of the import permit issued to marketers in December 2011, which also covered the first quarter of 2012.
But to avert fuel crisis, the DMO has begun to release the SDN for the payment of subsidy for 2012, which covers the second quarter of 2012.

Marketers, who spoke to THISDAY, confirmed that payments for 2012 subsidy has commenced.

“They have started releasing payments for 2012 subsidy, while the arrears for the 2011 remain suspended, pending the resolution of the contentious issues. Marketers have also been asked to come to the DMO for their Sovereign Debt Notes for 2012,” said one of the marketers.

However, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said yesterday that while her ministry would be ready to work with relevant agencies for the common good of Nigerians, it would not be stampeded into making hasty payments on fuel deliveries that had not been substantiated or verified.

In a statement by her Senior Special Assistant, Mr. Paul Nwabuikwu, the minister noted that in line with this focus, her ministry would continue to pay all marketers whose claims of fuel importation had been verified as genuine, adding that speculation that prudence in subsidy payments would cause fuel scarcity was wrong.

“Indeed, to say that the Ministry’s efforts to learn lessons from the past and reform the way payments are made will lead to fuel scarcity is simply not the case,” she said.

She disclosed that based on PPPRA and NNPC’s claims, N451 billion of the N888 billion subsidy budget for 2012 had already been spent on arrears for 2011.
“Since the NNPC/PPPRA’s estimate for the 2011 arrears was N232 billion, this means that more than double the projected amount has already been spent and those agencies are still bringing in more claims,” she said. 

She said this is clearly not sustainable, adding that her ministry has a responsibility to ensure that the lapses that may have led to this unhealthy situation are not repeated.

“That is the least that the ministry owes the Nigerian people. In line with the directive of the President, the ministry will continue to work towards the improvement of the fuel subsidy regime based on the lessons learnt from our recent experiences.

The ministry is determined to put in place a strong framework for the fuel subsidy regime that is both transparent and sustainable,” she explained.

She stated that the “ministry’s approach to improving the subsidy regime is predicated on ensuring that the country’s finances are managed in a manner that clearly protects the interests of the Nigerian people; putting in place a system that ensures that only the genuine claims of genuine

marketers are honoured and also performing its functions in an efficient and proactive manner to ensure that Nigerians get fuel at the right time and at the right price”.

The NNPC had earlier raised the alarm that the Ministry of Finance was about to plunge the country into fuel crisis, by providing in the 2012 budget, fuel subsidy based on the daily consumption figure of 19 million litres, instead of the actual figure of over 33million litres that the ministry gave to the Federal Government.

But the ministry insisted that the issue of underestimation did not arise because the NNPC and PPPRA which had the responsibility did not provide any basis for estimation of consumption.

OTC Market: NASD Finalises Trading Rules

Trading session at NSE

By Goddy Egene

The NASD Limited, which was has been granted an Approval-in-Principle (AIP) by the Securities and Exchange Commission (SEC) to operate Over-the-Counter (OTC) market in Nigeria, is finalising its trading rules and is targeting the last quarter of this year to commence operations.

NASD Limited was formed in 1998 to promote and operate an OTC market open to all interested registered securities dealers in Nigeria. It has been working towards putting in place an organised OTC market in place. SEC gave its approval last year.

It had planned to commence operations late last year but that was not possible as it was sourcing for funds and how to get a trading platform among other issues.

However, the Chairman of Technical Committee of NASD Limited, Mr. Victor Ogienwonyi, told THISDAY last Monday that the trading rules were being finalised and operations would likely begin in the last quarter of the year after getting the final approval of SEC.
According to him, since getting the AIP of SEC, the promoters of the project had been working round the clock to ensure a smooth take-off of operations.

According to him, N500 million had been raised by the company from 51 operators while vendors for the trading platform had been streamlined to three from the 11 that applied to supply the platform.

He disclosed that a permanent office had been secured for the company on Marina, Lagos, while key staff members had been recruited.

“We are finalising our trading rules and hope to take off fully by last quarter of this year after getting approval from SEC. We intend to have an all-asset trading platform that will trade from simple money market instruments like commercial paper through equities to bonds, including simple derivatives like foreign exchange options and futures.

“Our intention is to trade all non listed Public Liabilities companies (PLCs) in a very transparent manner; thereby expanding the market for securities and complementing the Nigerian Stock Exchange (NSE)”, he added.

Before now, Chairman of NASD Limited, Mr. Tola Mobolurin, had said that the NASD would provide capital raising windows to all qualified public sector and corporate entities especially small-to-medium sized companies seeking to raise capital and for investors seeking to trade existing securities on a transparent platform.

“It would also provide a liquidity window for investors and fund managers who invested in public unquoted companies and expand opportunities for Pension Fund Administrators who are required to invest only in publicly traded securities,” he said.

Tags: Nigeria, Business, Featured, OTC, NSE

Kudos, Knocks as FG Re-names UNILAG After MKO Abiola

Kudos, Knocks as FG Re-names UNILAG After MKO Abiola

 Late Chief Moshood Kashimawo Olwale (MKO) Abiola

By  Chuks Okocha  , Adibe Emenyonu, Linda Eroke, Funmi Ogundare, Chiemelie Ezeobi   and Sheriff Balogun 

Many have read several meanings into the presidential gesture of re-naming the 50-year old University of Lagos, after the late Chief Moshood Kashimawo Olwale (MKO) Abiola, fondly regarded as the June 12 hero and democracy icon, which many believe prefaced the birth of the nation’s  democracy.

While some think it is a political masterstroke to break into the South west political bloc, others see it as playing to the gallery, as it upturns the trend in the past where the Federal Government shied away from discussing the Abiola phenomenon in the Nigerian political space. Yet, others think it is mere red herring tactic to divert attention from the core issues of governance.

But more curiously, the gesture seems to have provoked avalanche of mixed reactions, many of which are condemnatory of the Federal Government .

The first kick came from the students of the University of Lagos (UNILAG), Akoka,  who, yesterday, trooped out to protest the renaming of the institution after the  Chief Abiola.
The students who defied the early morning rain, marched from the gate of the institution through the Yaba neighbourhood and back to the school protesting the change of name.

Although the protest was peaceful, it almost turned violent when one of Unilag security officers, arrested one of the protesting students and took him into custody. A full riot was however averted when the security officer was arrested and handcuffed to a burglary proof.

The protest was quickly and effectively managed by DECOMPOL Operations Nine as aggrieved protesters at Yaba, Shomolu and Ikorodu Roads were pacified and persuaded to return to campus and embrace dialogue.”
The acting president of the students union, Mr Idowu Odumose, described the name change as an act of injustice.
“It is an injustice to the institution. The change cannot be done unilaterally without amending the act setting up the university,’’ he told NAN.

In the same vein, the Acting Vice Chancellor, University of Lagos, Prof. Rahmon Bello described as a surprise the Federal Government’s decision to rename the institution.
Bello made the remark while addressing protesting students. 

A Professor of Law and Jurisprudence of the institution, Akin Oyebode who has taught in the institution for 40 years,  queried the timing of the action, saying that the presidency cannot just change it now when UNILAG is planning to bury its late Vice Chancellor, Prof. Babatunde Olatokunbo Sofoluwe.

Chairman of the Academic Staff of Universities (ASUU) of the  institution, Dr. Karo Moses Igbinaka calmed the students, stressing that UNILAG is a brand that has been built over the last 50 years. .

“The decision to rename the UNILAG was mainly PDP. UNILAG is a university established by an act of parliament and you cannot just wake up one day to say you want to rename it.  The President recently established nine new university in the country, he can afford to rename those ones if he so wishes. UNILAG is not what you can just change overnight.”

But expectedly, the President’s announcement excited the Abiola family which, yesterday, said they were ecstatic over the renaming of the University of Lagos (UNILAG) as the Moshood Abiola University.

In a telephone interview with the News Agency of Nigeria (NAN), Mr Abdul Abiola, son of the late politician said there was nothing wrong with the naming of the university after his father.

``We are shocked by the reactions trailing this development. My late father believed so much in education.”
Abiola’s first child, Lola Abiola-Edewor and Hafsat Abiola-Costello said that the Federal Government should be commended for recognizing the contribution of the late politician to the return of democracy in the  country.

Abiola-Edewor however condemned the protest by some students  saying that the gesture was long overdue.
Like her brother, she said: “I really do not understand all of the hues and cries. Nigerians had demanded severally that MKO be immortalised and asked why nothing had been done till date. What I cannot understand though is how renaming of UNILAG has degenerated into such a controversy. University of Ife was renamed Obafemi Awolowo University  and it has remained,” Abiola-Edewor said.

Abiola-Costello however tasked the Federal Government on the alleviation of poverty amongst Nigerians.

In the same vein, the Save Nigeria Group (SNG) has said Abiola deserved the highest honour in the land.

“While acknowledging the place of Abiola in the political history of Nigeria, we deplore the renaming of the University of Lagos after him,’’the SNG said.

But according to a former special assistant to the late Chief M.K.O. Abiola, Lisa Olu Akerele, the gesture is not even enough to honour the late politician, describing it as "mere tokenism and not far-reaching enough."

A constitutional lawyer, Prof. Itse Sagay (SAN), said the president should be praised for his effort to immortalise Abiola, adding that he, however, made a wrong choice in choosing UNILAG.

Sagay said: “The president should be praised for his effort to immortalise Abiola. It was done out of good intention but he chose the wrong institution.

Mr Bamidele Aturu, a human rights activist, said the president had the power to change the name of the institution¸ stressing that nothing was actually wrong with the name change.

He said: “The renaming itself is not the problem it is was a populist gesture. This must not been seen as a way to garner the sympathy of the people of the South West.
Yet, Mr Wale Ogunade, President, Voters Awareness Initiative, said the proper way to honour Abiola would have been to recognise June 12 as a national holiday.

“MKO Abiola is not known to be an educationist. The best way to have honoured him is for the Federal Government to recognise June 12 as a national public holiday”, he said.

Also, the Edo Consultative Forum (ECF), Tuesday, commended the Federal Government for the gesture.
In a statement signed by its Director of Media and Publicity, Mr Matthew Aramunde, it said the honour was overdue, stressing that the history of Nigeria democracy would not be complete without noting Abiola's contributions.

It questioned the protest against the gesture, asking, “How would the re-naming of UNILAG after M.K.O. Abiola affect the results and grades of the students? 

“UNILAG is the property of the Federal Government of Nigeria, it can change the name as it pleases any time.
“The students should protest against the killings in the north. They should protest against those mentioned for corruption and not the change in the name of their school,’’ 

But tailing off into the political, former President, Academic Staff Union of University [ASUU] Prof. Festus Iyayi argued that the best way to immortalise Abiola was to concentrate on development and for President Jonathan not to contest the 2015 election, but focus on raising the living standard of Nigerians in all aspect of life.

But former Edo State governor, Chief John Oyegun said “for me it is very good. It is high time a major national monument is named after Abiola.

Tags: Featured, News, Nigeria, NILAG After MKO Abiola

NTA Newsline TV Broadcaster Sele Eradiri Dead At 57

Sele Eradiri

By SaharaReporters, New York

Sele Eradiri, the Nigeria Television Authority broadcaster who featured on a weekly popular program "Newsline" is dead. Ms. Eradiri died at the Lagos University Teaching Hospital early this morning according to former colleagues.
A former colleague who did not want to be named told Saharareporters that Eradiri had been laying sick at LUTH after her condition deteriorated shortly after returning from a successful surgery in India a few months ago.
Born on March 13, 1955, Ms. Eradiri attended the Florida Atlantic University in Boca Raton from where she graduated in 1983

University Of Lagos Students Protest "Democracy Day" Name Change By President Jonathan

By Saharareporters, New York

 A decision announced earlier today by President Goodluck Jonathan of Nigeria to rename one of Nigeria's most prestigious universities after deceased politician, Moshood Kashimawo Abiola has backfired as students on the institution engaged in mass protests in Lagos to resist the name change.
The students shut down the school’s entrance gate, preventing vehicles from entering the campus as they gather in numbers to march on campus protesting the change of the institution’s name from  University in Lagos, University of Lagos [UNILAG] to Moshood Abiola University of Lagos [MAU]
By the early morning Democracy Day broadcast by President Goodluck Jonathan today,  University of Lagos popularly known as [UNILAG]  will now change to Moshood Abiola University of Lagos [MAU].

UNILAG Students Protest School's Change of Name

29 May 2012

Font Size: a / A

University of Lagos, Akoka

Students of the University of Lagos, have embarked on a protest march to kick against the Federal Government's decision to rename the institution after the late politician,Chief MKO Abiola, the presumed winner of the June 12, 1993 election.

The name change was announced by President Goodluck Jonathan during his nationwide Democracy Day speach Tuesday morning.

Angry UNILAG students have taken to the streets to protest the name change and are heading towards Alausa, the seat of the Lagos State goverment to express their displeasure with the development.

Details to follow...

Rihanna's topless moments

It is safe to say that this delectable star has had quite a number of topless moments and from the looks of things, she actually enjoys them.

Ukraine’s Parliamentarians Fighting 28 May, 2012

• 
  

It is now certain that it is not only in Nigeria that we have fighting lawmakers. Here is a glimpse of Ukrainian parliamentarians battling it out.

Adoke Explains $1bn Malabu Oil Deal

Minister for Justice, Mohammed Bello Adoke

By  Tobi Soniyi 

Attorney General of the Federation (AGF) and Minister for Justice, Mohammed Bello Adoke (SAN),  Sunday in Abuja said the Federal Government only brokered a deal to resolve the long standing dispute between Malabu Oil & Gas Limited (Malabu) and its partners, Shell Nigeria Ultra Deep Limited (SNUD) over the ownership and right to operate block 245.

In a statement he issued, Adoke disclosed that Malabu agreed to relinquish all interest and rights in OPL 245 for the sum of US$ 1,092,040,000 billion as full and final settlement of any and all claims, interests or rights relating to or in connection with block 245.

He said the Federal Govern-ment and some of its ministers who played a part in resolving the dispute were not engaged in round- tripping as claimed in some reports.

The minister said Federal Government only intervened at the instance of Malabu to resolve a crisis which started in July 2001 when block 245 initially allocated to Malabu was revoked.

He also listed various attempts including litigation, out- of- court settlement and arbitral proceedings embarked upon to resolve the dispute.He said: “In 2010, when this administration came to power, Malabu again, petitioned the Federal Government to implement the terms of the out-of-court settlement of 30th November 2006 on the basis of which they had discontinued their Appeal.

“Government also took cognisance of the pending cases instituted by SNUD against Federal Government of Nigeria  and/or Malabu, including Bilateral Investment Treaty (BIT) arbitration No. ARB/ 07/18 pending at the International Centre for the Settlement of Investment Disputes (ICSID Arbitration) to enforce SNUD’s rights to exclusively operate block 245 as Contractor on the basis of the 2003 PSC between Nigeria National Petroleum Corporation NNPC and SNUD and the financial implications of defending these actions on the public purse and opted for amicable resolution of the dispute.”

According to him, to resolve all the contending claims in a satisfactory and holistic manner, due regard was given to the Terms of Settlement of November 30, 2006 which had been reduced to Orders of the Court, the underlying policy of encouraging the participation of indigenous oil and gas companies in the upstream sector of the oil industry and the fact that Shell had substantially de-risked Block 245.

He explained that to accommodate all these interests, a resolution agreement dated April 29, 2011 between the Federal Government of Nigeria and Malabu Oil and Gas Limited was executed wherein the FGN agreed to resolve all the issues with Malabu in respect of Block 245 amicably and Malabu also agreed that in consideration of receiving compensation from the FGN it would settle and waive any and all claims to any interest in OPL 245.

He said: “In furtherance of the Resolution Agreement, SNUD and ENI agreed to pay Malabu through the Federal Government acting as an obligor, the sum of US$ 1,092,040,000 Billion in full and final settlement of any and all claims, interests or rights relating to or in connection with Block 245 and Malabu agreed to settle and waive any and all claims, interests or rights relating  to or in connection with Block 245 and also consented to the re-allocation of Block 245 to Nigerian Agip Exploration Limited (NAE) and Shell Nigeria Exploration and Production Com-pany Limited (SNEPCO).”

According to him, the Federal Government, its agencies and officials in relation to Block 245 only acted as facilitator of the resolution of a long standing dispute between Malabu and SNUD over the ownership and right to operate Block 245.

He said the Federal Government was not aware of any subsisting third party interest in Malabu’s claim to OPL 245 and neither did any person or company apply to be joined in the negotiations as an interested party.

He said government had demonstrated its commitment to attract investment in the oil and gas sector of the economy and encourage genuine investors (local and foreign) by creating the enabling environment for their business to thrive.

The resolution of the lingering dispute over Block 245, he said, was in furtherance of that objective.

Adoke said FGN, its agencies and officials should not be dragged into a purely commercial dispute between Malabu and its purported partners.

It is his view that the allegation of round-tripping levelled against the FGN is without basis and cannot be substantiated having regard the role it played as mere facilitator of an amicable settlement between two disputing parties over a long standing dispute with obvious economic implications for the country.

Excerpts from the statement read: "The attention of the office of the Attorney General of the Federation has been drawn to recent media reports containing allegations of round-tripping against the Federal Government as a result of the settlement agreement it brokered between Malabu Oil and Gas Limited (Malabu) and Shell Nigeria Ultra Deep Limited (SNUD) over their long standing dispute over the ownership and right to operate Block 245.

“In view of the misrepresentations and obvious mischief in reporting the role of the Federal Government, its agencies and officials in the settlement of the dispute, it has become necessary to issue a comprehensive response to these allegations so as to set the records straight and properly explain the role played by the Federal Government, its agencies and officials in accordance with this administration’s commitment to transparency and accountability in governance.

“It will be recalled that in furtherance of the Indigenous Exploration Programme Policy introduced by the Federal Government in the early 1990s to encourage effective development of indigenous capability in the upstream sector of the oil industry, Malabu and other indigenous Oil and Gas companies were allocated Oil Blocks which they were expected to develop in partnership with international oil companies as Technical Partners.

“Malabu was allocated OPL 245 in April, 1998 and in accordance with the terms of the grant, it appointed SNUD as its Technical Partner. The two companies executed relevant Agreements including a Joint Operation Agreement in 2001. Records indicate that SNUD took 40% participating interests in the venture in a farm-in- agreement and also signed agreement with Malabu as its technical partner for the venture.

“Although, Malabu was issued a licence for Block 245 in April 2001, the same licence was subsequently revoked by the Federal Government on 2nd July, 2001. Exxon-Mobil and Shell were invited in April 2002 to bid for OPL 245 despite a subsisting contractual agreements between Malabu and SNUD with respect to OPL 245. Malabu was dissatisfied with the revocation and contended that the circumstances leading to the revocation of its licence on Block 245 was less than transparent and smacked of inducement and connivance from SNUD, its technical partner.

“Malabu also contended that the subsequent re-award of OPL 245 to SNUD by the Federal Government was done under questionable circumstances. It then petitioned the House of Representatives Committee on Petroleum to look into the matter.

It is apposite to note that the House of Representatives Committee on Petroleum found no rational basis for the revocation and reprimanded Shell for its complicity. The Committee also directed the Federal Government to withdraw the re-award, it made to Shell and return OPL 245 to Malabu, the original allotee of the Block.

“Malabu also instituted Suit No. FHC/ABJ/CS/420/2003, before the Federal High Court (FHC), Abuja to enforce its claim to OPL 245. Although, the suit was struck out by the FHC, Malabu lodged Appeal No. CA/A/99M/2006 before the Court Appeal, Abuja, Division. During the pendency of the Appeal, an amicable settlement was entered into between Malabu and the Federal Government and in compliance with the Terms of Settlement executed by the Parties on the 30th of November 2006, OPL 245 was fully and completely restored to Malabu in consideration for its withdrawal of the Appeal.

8.SNUD, apparently dissatisfied with the Terms of Settlement between the Federal Government and Malabu commenced arbitral proceedings against the decision of the Federal Government to restore/re-allocate OPL 245 to Malabu at the International Centre for the Settlement of Investment Disputes in Washington DC, and made representations to government on the impending arbitration. It also commenced a suit against the Government before the Federal High Court, Abuja.

9.Although, several meetings were held between the Presidency, Ministry of Petroleum Resources, SNUD and Malabu, to  resolve the dispute, no satisfactory outcome was achieved. Attempts were also made in 2007 to resolve the dispute by a Committee comprising the Honourable Minister of State, Petroleum Resources, the Attorney General of the Federation and Minister of Justice, Minister of Energy, Group Managing Director, NNPC and DPR, the issues could not be amicably resolved before the administration of Late President Umaru Musa Yar’Adua GCFR came to power.

“It is also important to note that SNUD had entered into a Production Sharing Contract with the NNPC in 2004 upon which their claim to OPL 245 was anchored and had paid $1million out of the $210 million signature bonus to the Federal Government, and kept the balance of $209 million in an Escrow Account with J.P. Morgan pending the resolution of the dispute between Malabu and the Federal Government.”

Police Headquarters


By Christopher Isiguzo   and Ibrahim Shuaibu 

Enugu State Command of the Nigeria Police Force yesterday said it foiled an attempt by suspected armed robbers to rob a commercial bank at Ovoko in Igboeze South Local Government Area  of the state late last week.

The disclosure also came on the heels of the killing of three persons and injuring of one other by suspected gunmen at Gidan Hamisu Gurgu relaxation spot at Gaida quarters of Kano Municipality at the weekend.

A statement made by the Public Relations Officer (PRO) of the Enugu Police Command, Ebere Amaraizu, said one of the robbers was killed while a police officer, Sgt Ozievie Ayebabogna, was injured during the gun duel which ensued between the policemen who were on duty at the bank and the criminals.

Amaraizu, who disclosed that the injured policeman was responding to treatment at a nearby hospital, stated that the command had commenced investigations into the attempted robbery.

The statement added that the Commissioner of Police in the state, Musa Daura, had applauded the “gallantry of the police men on guard duty.”

Meanwhile, an eyewitness said the gunmen had arrived on a motorbike, took position and opened fire sporadically on overcrowded spot mainly patronised by pokers, explaining that the incident occurred around 6p.m.

The gunmen attacked came barely an hour after the visiting Vice-President Namadi Sambo, left the city that witnessed unprecedented security presence in the streets.

According to the account the gunmen armed with assault rifles and were heard speaking fluent local dialect threatened to wipe off all those consciously transgressing against God in the city.

Eyewitness said: “My neighbour, Abdullahi was among the dead, two others I cannot identified after the violent attack lay dead while a man who sustained life threatening injury was being rushed to the hospital as many fled for
safety.

Spokesman of the Police in the state, Deputy Superintendent  of police (DSP), Rilwanu Mohammed Dutse, confirmed the shooting incident, adding that
the command has commenced investigations.

He explains that “we learnt that three people were shot dead by unknown gunmen Saturday evening at Filin Kashu relaxation spot at Gaida, and that one other person sustained injury.”

It could be recall that the bloody attack at a relaxation spot patronized by pokers brought to four number of such violence since the ancient city of Kano came under attack January 20

Women on Rise in Mexican Drug Cartels

Mexican Army soldiers guard Irasema Lopez Garza, partner of Carlos Oliva Castillo, aka "La Rana", alleged leader of the Zetas

The high mortality rate in Mexico's drug war has seen women progress quickly in the shadowy underworld of the cartels and they are increasingly taking on key management roles, a new book says.

"Female Bosses of Narco-Traffic," by Arturo Santamaria, a researcher at the Autonomous University of the State of Sinaloa, traces the ascent of women in drug trafficking organizations, reports AFP.

"The narco-traffickers will become stronger as a result of this," wrote Santamaria. "They will be more difficult to fight because the women appear to be acting smarter."

An estimated 50,000 people have been killed since 2006 in a government crackdown on organized crime that has set off turf wars among rival groups even as they fight off the Mexican military's counter-narcotics units.

Santamaria said the dead have been mainly males belonging to the cartels, which has led to a changing of the guard with younger men and women rising to the top of drug trafficking organizations.

"Widows, daughters, lovers and girlfriends of the men, who are part of the same criminal families," have had to lend a hand, he said.

Interviews with researchers and journalists reproduced in the book tell their story.

"After they killed my father, my brother remained," recalls one of these women. "But he was gunned down in the most recent shootout, and now I have taken the reins."

In the northwestern state of Sinaloa, Mexico's main poppy and marijuana producing region and home to leading drug lords, many young women grew up around the business.

"They absorbed it from the time they were girls. They know what it is and how it works," said Santamaria.

Women were initially recruited into the business to extract juice from poppy, a delicate process requiring gentle handling.

"After that, they started transporting drugs, laundering money and engaging in so-called narco-diplomacy," using their charms to corrupt government or police officials, said Santamaria.

"Later, they started getting involved in operations," he said.

They learned how to manage people, run operations and move money, skills that ultimately prepared them to take over entire operations.

As of October last year, 46 female cartel leaders have been arrested by Mexican authorities, according to the country's attorney general's office.

In the United States, 2,143 Mexican women have been arrested over the past decade for involvement in drug trafficking.

Santamaria said women act with more caution and use deadly force more sparingly than men.

"Maybe this is because they are mothers and have children," argued the researcher, while cautioning that younger women were apt to be as bloodthirsty as men.

Zetas, the dominant cartel in western Mexico, has recruited women as hired killers more actively than other cartels. Unlike the Sinaloa cartel, which prefers to stick within known families, the Zetas hire all over the country.

Manuel Clouthier, a businessman and politician from Sinaloa, said he believed women in the drug trafficking business were more responsible, more loyal and, therefore, more effective.

San Franciscans Celebrate Golden Gate Bridge Anniversary

A tanker is seen passing through under the Golden Gate Bridge

Tens of thousand of people came to San Francisco's waterfront to mark the 75th anniversary of the Golden Gate Bridge, the distinctive orange vermilion structure that attracts some 10 million visitors each year.

According to AFP, the city hosted a massive celebration complete with music, dance vintage cars and motorcycles, as well as a fireworks display showcasing the iconic bridge at the entrance to the San Francisco Bay.

The celebrations took place 75 years to the day after the bridge was opened to the public: to pedestrians on May 27, 1937, and to traffic the next day. At the time, the Golden Gate was the world's longest suspension bridge.

Dreamt up by engineer, Joseph Strauss, the bridge distinguishes itself by its unique colour, chosen by architect Irving Morrow and dubbed International Orange.

The paint originally ensured visibility for passing ships and served as a sealant to protect the bridge from the salty mist from the Golden Gate Strait after which it was named, the entrance to the bay from the Pacific Ocean.

Construction of the bridge took four years. Some 1.7 miles (2.7 kilometres) long, it is 90 feet (27 meters) wide and its two towers reach 746 feet above sea level. Traffic is suspended 220 feet above the water.

Pedestrians and cyclists can access the bridge along with motorists.

But the span also has a grim history as a popular place to commit suicide.

An estimated 1,600 people have died there in instances where the body was recovered, with many more unconfirmed, according to the Los Angeles Times.

Last year alone, 37 people died after jumping off the bridge -- the fourth highest number since it opened, the newspaper said, citing data from bridge authorities.

Events marking the bridge's anniversary are also taking place all year long, and a new visitor centre was opened in early May at the southern entrance.

Ex-Japan PM, Kan, to Speak at Fukushima Probe

Naoto Kan was prime minister when the March 11, 2011 earthquake and tsunami struck

Former Japanese Prime Minister, Naoto Kan is to testify before a parliamentary commission into the Fukushima disaster on his handling of the crisis, which began in March 2011.

Questioning is expected to focus on Kan's response in the hours and days after tsunami damage tipped three nuclear reactors into meltdowns, reports the BBC.

The panel has already heard from lawmakers and nuclear industry experts.

The commission is due to deliver its report in June.

On Sunday, Trade and Industry Minister Yukio Edano - who was the top government spokesman at the time - told the commission there had been no attempt to mislead the public about the severity of the crisis.

He said the government had not fully understood the extent of the damage to the plant.

He also said that Japan had refused a US request to place its nuclear experts in the prime minister's office, citing sovereignty issues.
Fuel pond fears

Naoto Kan is expected to face questions on his early efforts to contain the crisis.

He has been criticised for being hesitant to take emergency powers into his hands at first and then for interfering too much, says the BBC's Roland Buerk in Tokyo.

A breakdown of trust between Mr Kan, bureaucrats and the plant's operator Tepco is said to have hampered the operation, our correspondent adds.

At the Fukushima Daiichi plant itself, the reactors are now stable, Tepco says.

But there is concern about the spent fuel pool on the top floor of the badly damaged reactor number four building.

If it collapses, it could cause another catastrophe, officials have warned. But Tepco says it has reinforced the structure against another earthquake.

Meanwhile, tens of thousands of residents remain evacuated from an exclusion zone around the plant.

UN Council Condemns Syria Govt over Massacre

UN Security Council chambers

The UN Security Council strongly condemned the Syrian government for using artillery in a massacre in which at least 108 people were killed and 300 others injured, reports AFP.

UN officials said the slaughter in Houla -- the subject of an emergency Security Council meeting -- claimed the lives of 49 children and 34 women.

Russia, Syria's main ally, signed up to the Security Council statement which "condemned in the strongest possible terms" the killings in the village near the protest city of Homs.

The statement said the deaths had been confirmed by UN observers and were the result of "attacks that involved a series of government artillery and tank shellings on a residential neighbourhood."

The 15-nation council made a new demand for President Bashar al-Assad to withdraw heavy weapons from populated areas -- in line with the peace plan of UN-Arab League envoy Kofi Annan -- and said that "those responsible for acts of violence must be held accountable."

UN Secretary General Ban Ki-moon and Annan have called the Houla massacre a "flagrant violation of international law".

Thousands of people took part in nationwide protests against the Houla killings on Sunday.

The London-based Syrian Observatory for Human Rights reported that a Syrian military offensive on Sunday left 33 people dead in and around the restive town of Hama, bringing the nationwide death toll for the day to 48.

Britain and France had proposed a UN statement making an even stronger condemnation of the Assad government. But Russia would not agree on the wording and demanded a special meeting before approving the statement.

The Syrian government has denied any responsibility for the deaths and Russia still does not accept that the Damascus government is to blame, its diplomats said.

"It still remains unclear what happened and what triggered what," Russia's deputy UN ambassador Igor Pankin told reporters after the meeting.

"There are substantial grounds to believe that the majority of those who were killed were either slashed, cut by knives, or executed at point blank distance," Pankin said before the meeting.

"It is difficult to imagine that the Syrian government would not only shell... but also use point-black execution" against dozens of women and children, he said.

The government was "not at all" to blame for the Houla massacre, Syrian foreign ministry spokesman Jihad al-Makdissi insisted earlier. Syria's UN envoy Bashar Jaafari said accusations of government responsibility were part of a "tsunami of lies" against Damascus.

A UN source told AFP that an investigation had found that an artillery barrage of Houla on Friday was followed by an attack by militia fighters shortly after.

Major General Robert Mood, head of the UN Supervision Mission in Syria (UNSMIS), gave details of the UN investigation by video conference. He said the opposition Free Syrian Army had given a death toll of 116 but that UN observers had seen 108 bodies.

Mood said there were signs of tank shelling, mortar fire and "physical abuse," and said the deaths were from "shrapnel" and gunfire at "point-blank" range, diplomats at the closed-door UN meeting said.

"The evidence is clear, the evidence is not murky, and there is a clear footprint of the government in this massacre," Germany's UN envoy Peter Wittig told reporters.

Special envoy Annan is to go to Damascus on Monday, the Syrian foreign ministry said. He has said he will renew condemnation of the Houla killings as he seeks to rescue his six-point peace plan.

There are now more than 280 unarmed military observers in Syria to monitor a cessation of hostilities that started on April 12 but lurches closer to collapse each day.

UN leader Ban said the Houla massacre has added to pressure on the UN observers, as some in the conflict-stricken country blame them for an increase in violence. He said the observers were now in a "perilous" position.

US-EXIM Bank to Provide $1.5bn in $10bn Power Deal

Minister of Power,   Barth Nnaji,

By  Damilola Oyedele 

The United States EXIM Bank has signed a Memorandum of Understanding (MoU) with the Federal Government provide $1.5billion as its commitment towards the March 2012 deal with London firm, General Electric to provide 10,000 mega watts of electricity by the year 2020.

The Minister of Power, Prof. Barth Nnaji, made the disclosure in Abuja at a recent meeting with Trade Union Congress (TUC) and the National Electricity Regulatory Commission (NERC), which was initiated by the Minister of Labour and Productivity, Chief Emeka Wogu.

Nnaji added that 10 power plants would be completed between now and the end of next year through partnership with the Independent Power Producers (IPPs), while training would be provided for electricity workers to man the power plants and new sub-stations being built.

He admitted that there was a trust deficit on the part of Nigerians towards the government reforms in the power sector.

“Give us a chance. In fact I will make you a promise; starting from next month, you will begin to see power grow in this country and it will not be reversible. The kind of change we enjoyed after the liberalisation of the telecommunications sector is the same we would have with these reforms in the power sector,” he said.

The meeting was held to clarify the reforms in the power sector after the TUC made queries concerning power issue in Nigeria during the last May Day celebrations in Abuja. Officials of the NLC were absent at the meeting.

Explaining what has been termed as electricity tariff hike which is due to kick off on June 1, 2012, Chairman of NERC, Dr. Sam Amadi, said it was not an increase, but “rather many people would pay less than what they are currently paying for consumption.”

He added that the reforms were also meant to eliminate estimation billing and to increase supply of power so that the regulatory agency can do its work the way it should be done.

Amadi also gave the assurance that all Nigerians would receive meters before the expiration of 18 months; meanwhile he said instead of estimation billing which has been the practice for those who do not have meters, the feeder that supplies each building would be checked to know how much power went through it.

Even though part of the campaign is that the urban poor would pay less, Amadi did not give clear criteria for the agency’s definition of the urban poor.

President General of the TUC, Comrade Peter Esele, however said Nigerians were tired of being given timelines as to when power supply would be constant in Nigeria, “which is why the reforms are being received with skepticism by Nigerians.”

“Not ensuring that power supply is stable before carrying out reforms that could lead to an increase amounts to putting the cart before the horse. If, after spending billions of dollars, the sector is still not attractive, why should we trust the government now? We have not been given reasons why the billions did not improve the sector. I tell you, if Nigerians get 13 hours of stable power daily, they will be willing to pay more,” he added